Market Research Blog – Page 1018 – New Product Development

Turbofan Engines Market Expected to Grow at a 17.2% CAGR, Projected to Reach USD 5.1 Billion by 2032 | FMI Reports

The turbofan engines market was valued at USD 1.05 billion in 2022, experiencing a 6.3% year-on-year growth. The market is forecasted to expand at a robust Compound Annual Growth Rate (CAGR) of 17.2% from 2022 to 2032, reaching an estimated USD 5.1 billion by the end of the forecast period.

Strong demand is expected to continue in the commercial sector, particularly for wide-body aircraft engines. North America is anticipated to lead the turbofan engines market throughout the assessment period, maintaining its dominant position.

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Keys to success for Turbofan Engine Market Growth

With rapid urbanisation and global passenger traffic, an accelerated and more comfy mode of transportation is obligated. To encounter this demand, the airline business is growing at a rapid pace. A rapid way to transport goods is also required by the burgeoning transportation sector.

The most effectual mode of transportation is air transport. As the airline industry expands, so does the demand for new innovations and fuel-efficient engines. This factor is believed to have a promising potential the turbofan engines market during the forecast period.

Demand for next-generation engines and technological improvements are intensifying in the military sector, which is expected to increase market pressure for turbofan engines over the forecast period.

Key Takeaways

The turbofan engines market increased by 6.3% year on year over the last year.
The APAC turbofan engines market is expected to exceed US$ 16 billion by 2032, growing at a 5.3% CAGR over the forecast period.
Wide-body aircraft are expected to be in high demand in Asia-Pacific markets due to their ability to carry large loads over long distances.
The commercial segment is expected to be the largest and fastest-growing segment, owing to rising demand for technologically advanced engines to replace conventional engines.

Competitive Landscape

The turbofan engines market is much consolidated, with a few companies influencing a substantial portion of total output. GE Aviation, a division of General Electric Company, is a major manufacturer of turboprop and jet engines. The company is expected to dominate the global market due to its superior product technology and diverse product portfolio.

Rolls Royce Holdings Plc., Safran SA, CFM International SA, and others are also market leaders. The key strategy implemented by the turbofan engines market’s major players is the introduction and modernization of advanced technology in order to offer a more diverse product portfolio to their customers.

Key Companies Profiled

GE Aviation
Rolls-Royce Plc.
United Technologies Corporation – Pratt & Whitney Division
CFM International
Engine Alliance LLC
International Aero Engines
Williams International
SE Ivchenko-Progress
United Engine Corporation
EUROJET Turbo GmbH
IHI Corporation
Safran SA

Recent Development

Saudi Arabian Airlines has awarded CFM International, a joint venture of General Electric and Safran Aircraft Engines, a contract for CFM International LEAP-1A engines to power its new fleet of 35 Airbus A321neo and 30 Airbus A320neo planes.
The US Air Force awarded GE Aviation a USD 1.58 billion contract to supply F110 engines for the Boeing F-15EX Eagle II in October 2021. As a result of this decision, GE to be the sole propulsion source for the US Air Force’s entire planned F-15EX fleet.

Key Segments Covered in the Turbofan Engines Industry Survey

Turbofan Engines Market by Type:

Wide Body Aircrafts
Narrow Body Aircrafts

Turbofan Engines Market by End Use:

Turbofan Engines for Commercial Aircrafts
Turbofan Engines for Transportation Aircrafts
Turbofan Engines for Business Jets
Turbofan Engines for Military Aircrafts
Turbofan Engines for Transport Aircrafts
Turbofan Engines for Fighter Jets

Turbofan Engines Market by Region:

North America Turbofan Engines Market
Latin America Turbofan Engines Market
Western Europe Turbofan Engines Market
Eastern Europe
APEJ Turbofan Engines Market
Japan Turbofan Engines Market
Middle East & Africa Turbofan Engines Market

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Used Bike Marketplace Sales Projected to Reach USD 68 Billion by 2032, Growing at a 4.6% CAGR | FMI Reports

The sales of used bikes through bike marketplaces are expected to witness steady growth, with an average Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period. This growth is driven by increasing awareness of bike marketplace platforms, leading to a significant rise in sales from USD 43 billion in 2022 to USD 68 billion by 2032.

Consumers are attracted to used bike marketplaces due to the affordability of second-hand bikes, which typically require less maintenance compared to new models. Additionally, worsening traffic conditions in urban areas are playing a crucial role in boosting used bike market trends, as the growing number of daily commuters look for cost-effective transportation options.

The used luxury bike segment is particularly strong in marketplace sales, offering higher profit margins for vendors. Moreover, the involvement of Original Equipment Manufacturers (OEMs) in the sale of used bikes through these platforms has increased, driven by higher commissions for market players.

However, the report also highlights potential regulatory challenges, as public administrations are increasingly imposing constraints on the environmental impact of older vehicles. With many regulatory bodies mandating limits on the lifespan of vehicles to control emissions, this could present a significant hurdle to the growth of bike marketplaces during the forecast period.

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Key Takeaways

The historical size of the global used bike marketplace in the year 2021 is estimated to be around USD 38.2 Billion.
The yea-on-year growth rate of the used bike marketplace is found to have improved from that of 4% recorded during the time period covering 2017 to 2021.
On the basis of distribution channel, customer to customer method of business is the dominating segment with 62.8% contribution.
Imported bikes accrue almost 63% of the total sales of used bikes through bike marketplace achieved by the global market.
Bikes with an engine capacity ranging between 150 CC to 200 CC is figured out to be the highest selling segment for the sales ofused bikes through bike marketplace.
In consistent with the fact, super bikes are the most popular segment with 25.2% market share and higher profit margin for the sales ofused bikes through bike marketplace.
Used electric bikes for sale through marketplaces has surfaced to be rapidly gaining traction against petrol bikes, by acquiring nearly 31.7% of the total market in a very short time.

Competitive Landscape

Some of the market key playersincludes Droom, CredR, Bikedekho, Bikewale, Mahindra First Choice, Bikers Highway, OLX, Quicker, Use Motorcycle Store, and Bicycle Bluebook among others.

Key Segmentations

By Distribution Channel:

Customer to Customer
Business to Customer

By Source:

Domestic Bikes
Imported Bikes

By Engine Capacity:

Up to 100 CC
100 to 110 CC
110 to 135 CC
135 to 200 CC
Above 200 CC

By Type:

Computer
Off-Roading
Sports
Super Bikes
Cruiser Bikes
Others

By Propulsion:

Petrol
Electric

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)

Recent Developments

CredR is a well-known used bike sales online website that has pledged to deliver used bikes to the homes of its customers by the year 2020. Consequently, CredR Care has now become associated with the on-demand doorstep bike service sector that it provides as a result of this new business approach.

Triumph Motorcycles, based in the United Kingdom (UK), has announced the launch of a used premium bike programme especially for the Indian market and consumers in 2019. In addition, the company also wants to provide clients financing alternatives for its reconditioned or refurbished products to further attract potential buyers.

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Accelerating Growth: Electric Vehicle Sensor Market Anticipated to Reach USD 49,392.50 Million by 2034, Growing at a 16.5% CAGR | FMI Reports

The electric vehicle sensor market is expected to reach a valuation of USD 10,725.11 million by 2024, with its growth closely tied to the increasing number of electric vehicles (EVs) on the road. As sustainability gains momentum, the EV sensor market is thriving alongside the growing electric vehicle sector.

The industry is projected to grow at a robust CAGR of 16.5% through 2034. This surge is largely driven by the rising adoption of luxury electric vehicles, fueled by consumer demand for automation and comfort. EV sensors, particularly those integrated with advanced driver assistance systems (ADAS) and autonomous driving systems, are improving the overall convenience and usability of EVs, boosting market expansion during the forecast period.

By 2034, the electric vehicle sensor market is anticipated to reach USD 49,392.50 million. As consumers become more knowledgeable about electric vehicles, advancements in EV sensor technology are gaining importance. Battery sensors, which provide enhanced safety features, are expected to significantly contribute to the market’s growth.

Key drivers of this expansion include position sensors, temperature sensors, and other sensor varieties that assist with lane changes, parking, and various driving needs, all of which are contributing to the market’s positive outlook.

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Key Takeaways from the Electric Vehicle Sensor Market

The Electric Vehicle Sensor market is expected to be USD 10,725.11 million in size in 2024.
Position sensor is the top product type in the market. Position sensors are expected to account for 42.9% of the market share in 2024.
OEMs are the predominant sales channel. For 2024, OEM sale is anticipated to account for 93.0% of the market share.
India is expected to be a promising country in terms of progress for the market. The country is forecasted to have a CAGR of 18.8% from 2024 to 2034 in the market.
South Korea and Australia are poised to be lucrative countries for the market. For the forecast period, the CAGR for South Korea and Australia is predicted to be 17.9% and 18.2% respectively.
The market is expected to progress at a CAGR of 17.1% in Spain through 2034.

“With government help in addition to increased private funding, the EV sector is thriving. Components of EVs are no different and thus the Electric Vehicle Sensor market represents significant potential for investors,” – says an analyst at FMI.

Competition Analysis of the Electric Vehicle Sensor Market

Large multinational companies hold a significant share of the market, although the doors are not shut off for new entrants and startups. Partnerships with EV manufacturers are being sought to ease the sale process. Some of the prominent companies in the market include Analog Devices Inc., Denso Corporation, Amphenol Advanced Sensors, and Infineon Technologies AG

Key Players

Analog Devices Inc.
Denso Corporation
Amphenol Advanced Sensors
Infineon Technologies AG
Allegro MicroSystems, LLC
AMS Osram AG
Kohshin Electric Corporation
LEM
Renesas Electronics Corporation
Sensata Technologies
STMicroelectronics
Melexis
Texas Instruments Incorporated
Vishay Intertechnology, Inc
NXP Semiconductors NV

Recent Developments in the Electric Vehicle Sensor Market

In January 2024, the Xensiv TLI5590-A6W magnetic position sensor from Infineon was launched.
In April 2022, it was announced that Denso Corporation’s sensors had found a place in two new electrical vehicles, the Toyota bZ4X and the Subaru Solterra.

Key Segmentations

By Product Type:

Temperature Sensors
Current Sensors
Position Sensors
Pressure Sensors
Speed Sensors

By Sales Channel:

OEM
Aftermarket

By Propulsion:

Battery Electric Vehicles (BEVs)
Hybrid Electric Vehicles (HEVs)
Plug-In Hybrid Electric Vehicles (PHEVs)

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)

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Three-Wheel E-Scooter Market Projected to Grow at a 2.4% CAGR, Reaching USD 1,361.4 Million by 2034 | FMI Reports

The global three-wheel e-scooter market is expected to reach USD 1,074 million by 2024 and grow at a CAGR of 2.4%, reaching around USD 1,361.4 million by 2034.

Three-wheel e-scooters are gaining popularity worldwide due to their user-friendly design and added stability from the extra wheel compared to traditional two-wheel models. These scooters offer greater balance, making them appealing to adults, children, and beginners who may otherwise struggle with two-wheelers. They also reduce the risk of tipping, especially on uneven terrain or during sharp turns.

Manufacturers are increasingly focusing on producing three-wheel e-scooters with lithium-ion batteries to attract more customers. The price of these batteries has significantly dropped, from over USD 1100 in 2010 to around USD 156 in 2020, with expectations for further reduction to USD 100 by 2023. This decline is driven by rising demand for electric vehicles and ongoing research to improve battery life. In contrast, lead-acid batteries have a shorter lifespan and lower energy density, leading consumers to prefer the more cost-effective lithium-ion alternatives.

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KEY TAKEAWAYS:

The European three-wheel e-scooter market will command the largest portion of the market. The rapid development of infrastructure and the industrialisation of new technologies are boosting the growth of the European demand for three-wheel e-scooter.
In 2019, the 36V segment accounted for more than 60% of the three-wheel e-scooter market’s The 36V battery segment’s supremacy can be ascribed to its strong power output and compatibility with electric scooters.
Retro is predicted to be the most profitable area based on application. This is related to a move toward green vehicles for short-distance travel.
Due to its durability and low cost, sealed lead-acid batteries dominated the industry in 2021, accounting for about 62 percent of total sales of three-wheel e-scooter.

Key Players

Invacare
Afikim Electric Vehicle
Hoveround Corporation
Pride Mobility Products
Sunrise Medical Inc.
VAN OS Medical UK Ltd
Energica Motor Company S.p.A.
EV Rider LLC
UK Mobility Group Ltd
Golden Technologies
MERITS Co. Ltd
Hero Moto Corp

RECENT DEVELOPMENT:

Due to increased demand, Hero Electric (India) increased the capacity of its new production facility in Ludhiana (India) in September 2021. By Q2 2022, the company has increased production capacity from 1 lakh to over 5 lakh automobiles.
In August 2020, Okinawa Autotech introduced the R30, a low-speed electric scooter with a top speed of 25 kilometres per hour.

Key Segmentations

Battery Type:

Li-Ion
Ni-Mh
Lead Based
Others

Technology:

Plugin
Battery

Price Range:

Below USD 200
USD 200 – 375
USD 375.1 – 750
USD 750.1 – 1100
Above USD 1,100

Distribution:

OEM
E-Commerce
Others

End Use:

Personal
Rental
Law Enforcement

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Weathering the Storm: Waterproof E-Scooter Market Expected to Reach USD 8.3 Billion by 2032, Growing at a 5% CAGR | FMI Reports

The waterproof e-scooter market is projected to grow at a 5% CAGR, with its value rising from USD 5.1 billion in 2022 to USD 8.3 billion in the coming years. According to FMI research, over 71% of e-scooter models now have water resistance features, up from just 40% in 2021, leading to a boost in sales.

This growth is expected to accelerate, with waterproof e-scooters seeing the fastest sales increase. Enhancements such as better speed and range, a sturdier stem clamp, fourth-generation frames, updated multi-switches, turn signals, motorcycle-grade horns, dual-purpose footrests, and larger rubber decks are driving demand. Some models, like those reaching 62 mph, are competing with high-performance vehicles, further fueling interest in waterproof options. Models like the Dualtron Thunder 2, offering up to 106 miles of range with a high-capacity battery, contribute to the market’s rise, with high-quality battery cells improving energy density and efficiency.

Brands like Xiaomi, Ninebot, and Aovo offer a range of waterproof e-scooters, enhancing revenue as awareness of weather patterns and fuel costs grows.

However, a key challenge persists: no e-scooter on the market is entirely waterproof. While many are water-resistant and can handle rain and snow, consumer demand is increasingly focused on fully waterproof models that can cover longer distances, which remains a major hurdle for the market’s expansion.

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KEY TAKEAWAYS:

By type, two wheel category is expected to lead the waterproof E-Scooter market during the forecast period.
By IP rating, IP65 category dominated the waterproof E-Scooter market, due to its durability to last in every climate.
During the forecast period, the OEM segment is expected to dominate the waterproof E-Scooter market.
With the rising popularity of waterproof E-Scooters and increased spending on waterproof E-Scooter, the United States leads the market.
China waterproof E-Scooter market is forecast to grow at a highest CAGR of 18.7 during the forecast period.
Japan waterproof E-Scooter market is expected to develop rapidly in the global waterproof E-Scooter industry with a CAGR of 13.5% from 2022 to 2032.

COMPETITIVE LANDSCAPE:

Key companies profiled in the waterproof E-Scooter market report include Xiaomi Corporation, Voro Motors, Segway, Apollo Scooters, GOTRAX, Aovopro , INOKIM, and KAABO.

Many players in the waterproof E-Scooter market are focusing on launching stores in several countries as part of a joint venture strategy to expand their global reach. To extend their market share, leading market players are focused on various growth strategies such as research and development, mergers and acquisitions, and the launch of new waterproof E-Scooters.

Key Segmentations

By Product Type:

Unicycle
Two Wheeler
Three Wheeler

By Wattage:

Up to 250 Watt
250 to 450 Watts
450 to 700 Watts
Above 700 Watts

By Battery Health:

Healthy
Good
Bad
Worst

By Distribution Channel:

OEM
E-Commerce
Others

By Type:

Lithium Ion Battery
Sealed Lead Acid Batteries
Nickel Metal Hydride Batteries
Others

By Regions:

Asia Pacific
North America
Europe
Middle East & Africa
Latin America

RECENT DEVELOPMENT:

Partnerships, Product Launches, Collaborations, and Agreements:

Xiaomi released the Mi Electric Scooter Pro 2 in 2021. It’s a customized Mercedes-AMG Petronas F1 Team Edition with a top speed of 25 km/h and a range of 45 kilometers.
In 2022, Aovo launched Aovo M365. It has a large and intelligent battery of 10.4 AH and a 350 W motor. Its brushless motor is one of its distinguishing features. This motor may easily allow your M365 Pro to go 30 to 35 kilometers after charging it 100 percent.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Used E-Scooter Market Expected to Hit USD 979.5 Million by 2034, with a Growth Rate of 3.2% CAGR | FMI Reports

According to a study by FMI, the used e-scooter market was valued at USD 714.8 million in 2024 and is projected to grow to USD 979.5 million by 2034, with a compound annual growth rate (CAGR) of 3.2%.

The shift towards electric vehicles, driven by environmental concerns, technological advancements, and cost-effective fuel solutions, is boosting sales of used e-scooters in new regions.

Key trends in the used e-scooter market include the expansion of electric vehicle components and the optimization of e-scooter transmission systems.

Competitive pricing, cashback offers, and online platforms offering detailed product analyses tailored to specific industries are further driving demand for used e-scooters across multiple regions.

Manufacturers are adopting cutting-edge technologies such as Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) to make e-scooters more advanced and future-ready.

Government incentives, such as subsidies for electric vehicles, are also playing a key role in expanding the used e-scooter market, allowing it to reach new regions.

However, the market was negatively impacted by the COVID-19 pandemic, which led to the shutdown of manufacturing, research and development activities, and retail operations, affecting sales.

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KEY TAKEAWAYS:

Asia pacific is one of the highest growing regions for used E-Scooter market as developing country like India is booming at the CAGR 12.8% between 2022-2032while Brazil thrives at a CAGR of 9.5% through 2032.
Europe also share its fare amount of share in the used e-scooter market as European countries pledge to limit their carbon emissions. Governments run awareness initiatives so that citizens adopt electric vehicles. This drives more traction for used e-scooter market.
Lithium-ion battery is the biggest segment in the battery type category of used e-scooter market and will be the largest portion in the forecast period, owing to factors like high-performance delivery, longer shelf life and easy installation.
The two-wheeler segment is the largest segment and will hold the biggest portion of the market in the forecast period, attributed to the factors like common and popular use, easy availability and better price ranges coupled with new integrated technologies.
Vehicle manufacturers keep on experimenting with their designs and technology in order to attract the new set of customers, expanding the used e-scooter market.

COMPETITIVE LANDSCAPE:

Some of the used E-Scooter market players profiled in the FMI’s study are xiaomi corporation, glion, voro motors, segway, Apollo scooters, GOTRAX, INOKIM, KAABOO, Razor, Hover and Bird.

The competitive landscape of used E-Scooter is dynamic in nature and allows new competitors to thrive in the market and increase competitiveness. The companies in the market are a part of mergers and collaborations that result in increased distribution channels and market spaces. These companies focus on updating the price ranges, making it accessible to use and increasing the security layers.

Recent Developments in the Used E-Scooter Market

Voro motors have put its new set of refurbished electric scooters at online sale including its latest EMOVE cruiser series, Dualtron and Wolf King with multiple battery options. This pushes the sales of used e-scooter market.
Razor has introduced its used e-scooter series including Eco smart metro and SUP with E300 and E100. This pushes the sales of used e-scooter in the new regions.

Key Segmentations

By Type:

Unicycle
Two Wheel
Three Wheel

By Wattage:

Up to 250 Watt
250 to 450 Watts
450 to 700 Watts
Above 700 Watts

By Battery Health:

Healthy
Good
Bad
Worst

By Distribution Channel:

OEM
E-Commerce

By Battery Type:

Lithium Ion Battery
Sealed Lead Acid Batteries
Nickel Metal Hydride Batteries

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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North America Licorice Extract Market Trends, Growth Drivers, and Future Forecast 2033

As per Future Market Insights (FMI), North America licorice extract market size will increase from US$ 75.4 million in 2023 to US$ 155.9 million by 2033. Overall licorice extract sales in North America are set to surge at 7.6% CAGR from 2023 to 2033.

Growing consumer interest in herbal remedies is driving the market for licorice extract. In recent years, demand for Chinese herbal medicine has increased, especially in the markets of the United States and Europe.

The market for herbal medicines is expanding rapidly as a result of the popularity of Chinese medicine. This in turn is creating lucrative opportunities for licorice extract producers and suppliers.

Discover Growth Potential: Explore our detailed market research study to identify high-potential sectors and strategic business opportunities.

Widening applications in the pharmaceutical industry will elevate licorice extract demand in North America market through 2033.

Immune health supplements are becoming more popular among consumers, particularly among youth. The market of licorice extract supplements is largely influenced by increasing concern for overall health.

Youth is more susceptible to immune system disorders such as allergies, asthma, inflammatory illnesses, and others. This increases the demand for immune system supplements across North American countries.

Consumers are becoming more health conscious. As a result, they prefer to include naturally produced plant-based items in their daily diet that are free of sugar and gluten.

Consumption of plant-based substances with a variety of nutritional and health properties is increasing due to consumers’ growing awareness about living healthy lives. The market for licorice extract will be driven by the rising awareness of immunity-boosting supplements.

Key Takeaways from the North America Licorice Extract Market Report:

North America licorice industry market will reach a valuation of US$ 155.9 million by 2033.
Licorice extract sales across North America are likely to soar at 7.6% CAGR through 2033.
In 2023, liquid licorice extract segment will hold 45.2% share, while the capsules licorice extract segment will account for 37.2% share
Chewable tablets segment will witness a healthy CAGR of 10.2% from 2023 to 2033.
By application, digestive health segment holds a prominent market share of 29.4% in North America market.
The USA licorice extract industry will cross a valuation of US$ 139.1 million by 2033.
Licorice extract demand in Canada is forecast to increase at 8.7% CAGR through 2033.

“Rising awareness about the potential health benefits of licorice extract will continue to encourage its adoption across various industries. This in turn will provide impetus to North America market.” says a lead analyst at Future Market Insights (FMI).

Who is Winning?

Swanson, BioMatrix International, Bio-Botanica Inc., PharmaChoice, Horbäach, NOW® Foods, NIKKO CHEMICALS CO., LTD., Carlyle Nutritionals, Hard Eight Nutrition LLC., Nature’s Sunshine Products, Inc. are leading licorice extract producer and suppliers profiled in the report.

Most of these companies are leveraging advanced technologies to increase their production capacities and reduce costs. They are also using strategies such as mergers, partnerships, distribution agreements, acquisitions, and collaborations to solidify their positions.

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the North America licorice industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study incorporates compelling insights on the North America licorice extract market based on form (chewable tablets, capsules, gummies/chews, powder, and liquid) and application (boost energy, brain health, colon health, digestive health, immune support, liver support, and skin health) across the USA and Canada.

Secure Your Copy Now: Gain full access to the North America Licorice Extract Industry report, including Market Forecast, Company Share Analysis, Competitive Intelligence, DROT Analysis, Market Dynamics, Challenges, and Strategic Growth Initiatives.

North America Licorice Extract Market Segmentation

By Form:

Chewable Tablets
Capsules
- Gelatin
- HPMC
Gummies/ Chews
Powder
Liquid

By Application:

Boost Energy
Brain Health
Colon Health
Digestive Health
Immune Support
Liver Support
Skin Health

By Country:

USA
Canada

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact US:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Truffles Market Global Growth Drivers, Consumer Trends, and Forecast 2033

The global truffles market is on a promising growth trajectory, with an estimated valuation of USD 378.7 million in 2023. According to Future Market Insights (FMI), increasing consumer preferences towards culinary dishes and unique flavors are set to propel the market to USD 906.3 million by 2033, growing at a CAGR of 8.9% during the forecast period.

Key Growth Drivers:

Gourmet Cuisine Popularity: The demand for truffles is driven by the increasing popularity of gourmet cuisine and fine dining. Renowned chefs and food enthusiasts are incorporating truffles into their dishes, elevating the demand for this luxury ingredient.
Truffle Hunting and Tourism: The growing interest in truffle hunting and tourism presents new opportunities for truffle growers and suppliers. Truffle festivals and hunting tours are becoming popular, particularly in the United States and Europe.
Innovative Product Launches: The market is expanding beyond traditional uses with the introduction of truffle-infused oils, sauces, and snacks. These innovative products cater to a broader audience and enhance market reach.
R&D in Truffle Cultivation: Investments in research and development are improving truffle cultivation techniques, leading to higher yields and better-quality truffles. Mycorrhizal seedlings, for example, have revolutionized truffle farming by reducing the cultivation period and increasing production efficiency.
Sustainable Farming Practices: The adoption of organic and sustainable farming practices is gaining traction in the truffle industry. These practices not only ensure environmental sustainability but also appeal to health-conscious consumers.

Regional Insights:

United States: The U.S. is poised to lead in truffle sales, projected to grow at a CAGR of 12.0% and reach a valuation of USD 202.4 million by 2033. The availability of truffle products in grocery stores and online platforms, along with truffle-focused events, is boosting market growth.
China: China’s truffle market is expected to grow at a CAGR of 7.4%, reaching USD 101.4 million by 2033. The rising popularity of gourmet cuisine and an increasing middle class with higher disposable income are key growth drivers.
France: With government initiatives to promote truffle cultivation, France is expected to hold a market share of 15.1% and reach USD 32.8 million by 2033. Efforts include reforesting large areas for truffle production and implementing quality control measures.

Competitive Landscape

The truffles industry is highly competitive with a few key players dominating the industry. These players are focused on innovation, product differentiation, and expanding their distribution channels to gain a competitive advantage. Furthermore, the market is characterized by the presence of both regional and global players, each with its unique strengths and weaknesses.

For instance:

In 2023, Traub Capital Partners (TCP), a private equity firm based in the United States, invested in truffle producer Sabatino Tartufi. Sabatino announced to use the capital to improve its facilities and infrastructure, as well as to improve distribution and brand awareness.

In March 2021, Ilsar Truffles, an Israeli startup using cutting-edge biological technology to grow premium black winter truffles, raised US$ 5 million in a recent financing round led by AP Partners’ private equity fund. This investment is expected to support the company’s expansion plans and strengthen its position in the competitive truffle market.

Companies Profiled

Natura Tartufi;The Truffles Co. d.o.o.; Truffles Northwest; Black Boar Truffle, LLC; Ramelli Corporation; Wiltshire Truffles Limited; The Truffle & Wine Co.; Passione Toscana; Arotz Foods, S.A.; Katankura; La Maison Plantin; LES FRERES JAUMARD; NORCINERIA LUCANA; Pecan Ridge Plantation; SAVITAR TARTUFI SRL; Tartufi Morra

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Truffles Market Outlook by Category

By Product Type:

Black or Perigord truffle (Tuber melanosporum)
Summer truffle (Tuber aestivum var. aestivum)
White truffle (Tuber magnatum)
Oregon Black Truffle (Leucangium carthusianum)
Oregon White Truffle (Tuber oregonense)
Burgundy truffle (Tuber aestivum var. uncinatum)
Others

By Nature:

Organic
Conventional

By Form:

Fresh
Processed
- Dried
- Oil
- Frozen
- Canned
- Others

By End-use Application:

B2B
- Food Processing Industries
- Food Service Restaurants
- Cosmetic and Personal Care Industry
B2C/Indirect
- Store-based Retailing
  - Hypermarkets/ Supermarkets
  - Convenience Stores
  - Independent Grocery Stores
  - Specialty Stores
  - Discounters
  - Other Retailers
- Online Retailing

By Region:

North America
Europe
Latin America
South Asia
East Asia
Oceania
Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Chitosan Oligosaccharides and Glucosamine Market Health Benefits and Industry Forecast 2033

Future Market Insights analysis shows that the worldwide Chitosan Oligosaccharides and Glucosamine market is valued at US$ 2,375.1 million in 2023 and it is anticipated to reach US$ 5,779.9 million by 2033. Over the next decade, global Chitosan Oligosaccharides and Glucosamine are expected to expand their roots at an average CAGR of 9.3%.

Chitosan oligosaccharides and glucosamine are the natural compounds that are found in chitin. These are the biopolymer found in the exoskeletons of crustaceans such as crabs and lobster. these compounds have various the various health benefits and it is used in various applications.

Chitosan oligosaccharides are commonly used as dietary supplements, functional food ingredients, and animal feed additives. Also, it has been studied for its potential therapeutic applications such as cancer, diabetes, cardiovascular disorders, and in the treatment of various other diseases.

Additionally, Glucosamine is used in the treatment of joint pain and inflammation, in patients with osteoarthritis. the cartilage damage and inflammation in joints are reduced by using glucosamine. It has been used in dietary supplements for its potential benefits for healthy skin, hair, and nails.

Key Takeaways from the Chitosan Oligosaccharides and Glucosamine Report:

By 2033, the market for chitosan oligosaccharides and glucosamine is expected to be worth US$ 5,779.9 million.
Over the projection period, the demand for glucosamine and chitosan oligosaccharides is anticipated to grow at a 3% CAGR globally.
According to the form type, the powder market is projected to be worth US$ 4,340.5 million by 2033.
The dietary supplement market is anticipated to grow at a 6% CAGR by application over the forecast period.
By 2033, the United States is anticipated to possess a commanding 0% value share of the global market.
By 2033, the market for chitosan oligosaccharides and glucosamine in India is anticipated to be worth US$ 624.1 million.
During the forecast period, the value CAGR for the China market is predicted to be 8%.

“As the demand for natural and sustainable products continues to grow, chitosan oligosaccharides and glucosamine are expected to remain popular ingredients in various industries. However, it is important to note that more research is needed to fully understand their potential benefits and any potential side effects or interactions with other compounds. Manufacturers and producers finding growth opportunities by focusing on various Applications to meet the consumers expectation preferences.” – says a lead analyst at Future Market Insights (FMI)

Who is winning?

Advanced Biopolymers AS, G.T.C. Bio Corporation, Qingdao Fraken, International Trading Co., Ltd., Yantai Shuangta Food Co., Ltd., Amicogen Inc., Zhejiang Golden-Shell Pharmaceutical Co., Ltd., Koyo Chemical Co., Ltd., Haidebei Marine Bioengineering Co., Ltd., Qingdao BZ-Oligo Biotech Co., Ltd., FMC Corporation, Primex ehf, Panvo Organics Pvt Ltd, Golden-Shell Pharmaceutical Co., Ltd.

Companies that manufacture chitosan oligosaccharides and glucosamine are leveraging advancements in technology and science to enhance the quality and effectiveness of their products. They are also focused on improving their manufacturing processes to increase efficiency and reduce costs while ensuring product safety and quality.

For instance,

In 2021, T.C. Bio Corporation launched a new line of chitosan oligosaccharide products called ChitoMax. These products are designed for use in various applications, including dietary supplements, cosmetics, and agricultural products, and are unique because they are produced using a proprietary extraction process that preserves the natural bioactivity of the chitosan oligosaccharides.
In 2020, Golden-Shell Biochemical launched a new chitosan oligosaccharide product called Gd0.3. This product is designed for use in animal feed to improve animal health and growth.

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Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global Chitosan Oligosaccharides and Glucosamine market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study incorporates compelling insights into the Chitosan Oligosaccharides and Glucosamine market based on Source (Shrimp, Crab, Krill, Others), Form (Powder, Liquid), and Applications (Food & Beverages, Dietary Supplements, Pharmaceuticals, Cosmetics & Personal Care) across various regions.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Citrus Molasses Market Production Trends, Market Growth, and Industry Forecast 2033

The market for citrus molasses was predicted to reach US$ 687.2 million in 2022. Sales are predicted to reach US$ 1507.06 million by 2033, with a CAGR of 7.4% from 2023 to 2033 due to the increased demand for citrus goods.

The livestock population is predicted to grow in the next years in order to meet expanding livestock sector demand for dairy, meat, products, and farming. The need for feed is anticipated to rise along with the number of animals. The rising awareness among consumers about eating healthily has boosted the need for immunity and natural components in animal feed. The market for citrus molasses in the animal feed sector is anticipated to rise as a result.

Owners of livestock and pets are more concerned than ever with the wellbeing of their animals. This is a major factor in their increased investment in high-quality animal feed. need for livestock feed has increased globally as a consequence of consumers’ need for more accurate livestock feed. Consumers are growing more knowledgeable about the allergies and intolerances of their dogs, which is expected to open up opportunities for the production of citrus molasses.

Citrus molasses is manufactured in large numbers and consequently readily available on the market. This is a crucial element in the market’s success in attracting customers. The low cost of citrus molasses is due to its availability and the lack of extra processing needed. This makes the product extremely desirable for use in final applications, particularly in the market for animal feed and biofuel. The excellent nutritional value increases market value together with affordable rates.

Key Takeaways from the Market Study

Global market for citrus molasses is expected to be valued at US$ 738.05 million by 2023
In terms of global share, conventional citrus molasses has the dominant market share, accounting for 81% of the market in 2022.
By application, the pulp production gained significance and is likely to grow with a 6.1% CAGR from 2023 to 2033.
With an 71.2% market share in citrus molasses market in 2022, the United States is expected to continue to be one of the most profitable markets during the forecast period.
Germany holds a sizeable portion of the European citrus molasses market and is anticipated to expand at a CAGR of 3.3% during the anticipated period.
Mexico is predicted to have a CAGR of 6.23% during the forecast period and had around 26.2% of the Latin American market in 2022.

“A multitude of new businesses have entered the market in an effort to attract clients by providing distinct citrus molasses product offers as a result of the rising demand for citrus goods.” remarks an FMI analyst.

Competitive Landscape

Prominent players in the citrus molasses market are:

Lemon Concentrate S.L.
Louis Dreyfrus Company B.V.,
Citrusuco S.A.,
Citromax Group,
Sucocitrico Cutrale Ltd.,
Yantai North Andre Juice Co. Ltd.
Vita-Pakt Citrus Products,
Peace River Citrus Products
Rio Grande Juice Company
Citrus Processing India (P) Ltd.

Some key developments of the leading companies in this market are:

Louis Dreyfus Company B.V. (LDC) published its consolidated financial accounts for the year 2022 in 2023, in the midst of fresh and continuing socioeconomic, geopolitical, and environmental turbulence. The Group continued to contribute to maintaining crucial food and agribusiness supply networks operating in a reliable, responsible, and safe manner. As part of the Group’s decarbonization journey, LDC also declared a 33.6% reduction target for its Scope 1 & 2 emissions rates of greenhouse gasses by 2030 as contrasted to 2022 as its baseline year.
In 2022, Citrosuco, a Brazilian company that makes 20% of the orange juice consumed worldwide, recently unveiled the launch of Evera, a cutting-edge division that will generate natural ingredients for a variety of industries using an approach that reuses orange waste, such as peels, husks, seeds, leaves, and flowers.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global citrus molasses market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the citrus molasses market , the market is segmented on the basis of citrus molasses by nature (conventional, organic), sales channel (b2b/ direct sales, b2c/ indirect sales), end use application (animal feed, pulp production, biofuel) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

Secure Your Copy Now: Gain full access to the citrus molasses Industry report, including Market Forecast, Company Share Analysis, Competitive Intelligence, DROT Analysis, Market Dynamics, Challenges, and Strategic Growth Initiatives.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.