Market Research Blog – Page 1098 – New Product Development

Vegan Cookies Market Anticipated to Reach USD 773.31 Million by 2033, Growing at a Strong 8.9% CAGR, According to FMI Report

Forecasts put the vegan cookies market at US$ 359.23 million in 2023 and at US$ 773.31 million by 2033. Increases in veganism’s popularity, and increased interest in vegan baking contribute to the growth of this industry.

The United Kingdom, the United States, Germany, and Japan are expected to emerge as major manufacturers as a result of the rising demand for vegan cookies at a compound annual growth rate of 8.9%.

The growth of vegan restaurants and the availability of vegan options at major fast-food chains are factors that are likely to propel the industry forward. Berlin, the capital of Germany, is home to several vegan eateries, including Lucky Leek, which offers vegan-friendly alternatives to traditional breakfast fare like pancakes and burgers.

A Look into Hypermarket Segment’s 40.4% Vegan Cookies Market Share

Due to increased competition, more vegan food options have entered the market in recent years. For instance, a Starbucks location in South Korea added vegan focaccia bread to its menu, meeting consumer demand for more plant-based options. As the food industry becomes increasingly competitive, producers innovate new goods and invest in larger distribution networks to meet rising customer demand.

In 2018, Bakels established a new 80,000 square foot distribution centre in Bicester, specifically for the storage of finished goods, to meet the rising demand for these components. Moreover, online retailers are emphasising the addition of numerous vegans-based bread items to harness the soaring need and capitalise on the rising demand, with some even establishing their own self-manufactured such products. British supermarket company Waitrose & Partners, for instance, has dedicated entire aisles to vegan baked goods, creating a vast distribution network.

The demand for vegan cookies is being driven forward by rising consumer demand and rising global health consciousness. Products containing these substances have been shown to lower the chance of developing diabetes, some types of cancer, and cardiovascular disease. Bread’s negative health effects have led people to eat less of it recently, which has increased demand for gluten-free, nutritious bread substitutes.

Sales are Being Driven by Progress in Ingredients Production

Since eggs are essential to the structure, texture, and mouthfeel of baked goods, the baking business has a hard time creating satisfying vegan baked goods alternatives. The potential for the baking business to advance is constrained by the difficulty of finding components that could substitute eggs in vegan baked goods.

To be sure, there is still a significant chasm between vegan baked goods and standard bakery items, but advances in vegan baking ingredient manufacture are helping bakeries close the gap. More and more businesses are investing in research and development of vegan baking components that can successfully simulate the look, feel, and flavour of traditional bakery goods.

For instance, stabiliser and emulsifier powerhouse KaTech recently unveiled new bakery concepts designed to solve gaps in the vegan cookies market.

To fulfil the rising demand for healthier vegan bakery items, the company introduced a range of substitute dairy fillings in several versions such as low-fat and reduced sugar. For baked goods, powdered egg replacers are being developed because they can give lightness and volume in addition to the binding medium that eggs traditionally provide.

Vegan cookie producers are also focusing on improving texture and mouthfeel by creating stabilisers. It is anticipated that the increasing number of innovations are expected to help to suit the varied needs of consumers and contribute to the growth of the vegan cookies market.

Key Takeaways

The China vegan cookies market is expected to grow at a CAGR of 7.2% over the forecast period.
Indian vegan cookies market is likely to have a market share of 4%.
Due to the robust increase in demand for bakery items and the developing vegan trend, European consumers are likely to constitute the greatest percentage of the target market for vegan desserts vegan cookies.
Since tourists flock to Europe’s most popular destinations, Germany, Italy, and France present excellent potential for businesses offering vegan treats in convenient packaged forms.

Competitive Landscape

The development of novel products is a widely observed pattern in the vegan cookies industry. Top players in the vegan cookies industry are constantly developing cutting-edge ways to better meet the needs of their consumers.

In March of 2020, Chloe’s Oatmilk Pops, a new range of frozen non-dairy sweets, was released by Chloe’s, a firm based in the United States that specialises in vegan culinary components. These new pops are manufactured with clean-label ingredients that are good for the environment in numerous ways. They include no dairy, are entirely plant-based, are Non-GMO Project Verified, and are gluten-free. As of this writing, you can get your hands on one of three distinct varieties of these oat milk pops, which are the first in the industry.

Global bakery company and ingredient supplier JABEX was acquired by US-based Dawn Foods in March 2021. Buying JABEX allows Dawn Foods to expand its worldwide production footprint, gain access to products that complement its own, and bolster its operations and supply chain in Central and Eastern Europe.

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Key Segments

By Cookie Type:

Walnut Vegan Cookies
Oatmeal Vegan Cookies
Peanut Butter Vegan Cookies
Chocolate Vegan Cookies
Molasses Vegan Cookies
Other Cookie Types

By Sales Channel:

Offline
Modern Trade Stores / Big Box Retailers
Traditional Retailers
Mom & Pop Stores
Convenience Stores
Specialty Stores
Other Offline Stores
Online
Company Websites
e-Commerce Platforms

By Region:

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

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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Decaffeinated Coffee Market Set for Robust Growth, FMI Projects USD 39.10 Billion by 2033

According to Future Market Insights’ most recent market estimate, the decaffeinated coffee market is worth USD 20.06 billion in 2023. A CAGR of 6.9% is anticipated in the market during the forecast period.

Millennials prefer decaffeinated, gently roasted, organic, and sustainably farmed coffee beans due to their busy schedules and the greater accessibility of unhealthy beverages in recent years. Numerous cafes, coffee shops, restaurants, and eateries have started to provide menu items made from the aforementioned varieties as a result of the increased popularity of decaffeinated coffee.

Moreover, rapid urbanization and work-centered lifestyles have increased people’s awareness of and dependence on giving their bodies the proper kind of sustenance that is free from any concentration of adulteration. As a result, it is anticipated that the decaffeinated coffee market share would rise.

Additionally, coffee made in compliance with Fairtrade standards encourages commercial partnerships that are primarily focused on communication and openness in order to create more equity in international trade. These partnerships, which also support sustainable growth, enable better trade conditions for decaffeinated coffee producers.

Although organic decaffeinated coffee can be a bit more expensive than traditional decaffeinated coffee, many consumers are willing to pay more for the assurance that comes with knowing their coffee is organic.

The demand for decaffeinated coffee is expected to grow as more people learn about the benefits of organic coffee. With the absence of the traditional caffeine buzz, customers can now enjoy a cup of decaffeinated coffee. In order to promote decaffeinated coffee and educate consumers about its benefits, coffee companies have started to invest money in marketing campaigns.

Key Takeaways

The decaffeinated coffee market is likely to have a CAGR of 6.9% during the forecast period.
Historically, the decaffeinated coffee market had a CAGR of 6.3% between 2018-2022.
The value of the decaffeinated coffee market is expected to be US$ 39.10 billion by 2033.
Based on nature, organic segments hold 3.5% CAGR of the decaffeinated coffee market by 2033.
Based on End Use, the retail segment is anticipated to experience the highest CAGR of 6.7%% over the projection period.
With a CAGR of 3.1%% throughout the forecast period, US market participants are significantly boosting the demand for decaffeinated coffee.
From 2023 to 2033, the decaffeinated coffee market in Japan is anticipated to expand at a CAGR of 3.3%.
During the predicted period, the UK is forecast to expand at a CAGR of 5% in the decaffeinated coffee market.

Competitive Landscape

Many manufacturers who were already producing conventional coffee have added decaffeinated variants to their product selection in order to take advantage of the expansion and keep their customers.

The established supply chain and brand recognition should also be advantageous to the leading decaffeinated coffee players.

Starbucks has also released a number of decaffeinated coffee varieties, such as Starbucks Decaf Pike Place Roast and Starbucks Decaf House Blend.
- The Starbucks Decaf Vanilla Iced Coffee is the result of a partnership between Starbucks and Dr. Pepper Snapple Group. Additionally, Starbucks recently unveiled the new Decaf Mocha Macchiato, a decaffeinated version of its popular Mocha Coconut Milk Macchiato.
To produce decaffeinated coffee, Nestle has undertaken considerable research and development investments. The business has launched several decaffeinated coffee products under its Nescafe brand, including
- Nescafe Decaf Espresso
- Nescafe Decaf Latte
- Nescafe Decaf Mocha.

Nescafe Gold Decaf, a decaffeinated variation of the company’s well-known Nescafe Gold coffee, was also made available.

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Key Segments

By Nature:

Organic
Conventional

By Type:

Regular
Medium Roasted
Dark Roasted
Others

By End Use:

Retail/Household
Foodservice

By Distribution Channel:

Business to Business
Business to Consumers

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Organic Food and Beverages Market Expected to Experience a CAGR of 13% During the Forecast Period 2024 to 2034

A comprehensive evaluation of the food and beverage industry implies that the organic food and beverage market is poised to develop at a robust CAGR of 13.00% from 2024 to 2034. Previous assessments by FMI estimated the organic food and beverage market’s worth at USD 122.30 million in 2019, with current valuation indicating an uptick to achieve USD 278.00 million in 2024. Thematic analysis of organic food and beverages aim at a valuation of USD 639.40 million by 2034.

The demand for organic foods and drinks accelerates swiftly as the worker class sector gets less meal preparation time and becomes aware of the significant amount of inorganic chemicals put in fruits and vegetables. The upsurge in the sales of organic food and beverages is demonstrated by the evolving eating habits among consumers and the adoption of greener shifts in cultivation practices by farmers.

The high production cost and shorter shelf life constrain the organic food and beverage market growth. The premium pricing inhibits the broad adoption, due to limited alternatives to choose from, hamper the market expansion of organic food and beverages. Significant packaging, logistics, and distribution costs to prolong shelf life impede organic food and beverage market growth.

Regional Outlook

The Asia Pacific’s organic food and beverage market is developing at a rapid CAGR. This is due to diverse factors, such as escalating consumer knowledge of the health advantages of eating organic food, transitioning eating choices, and better economic probability.

Asia Pacific countries are adopting organic food policies at a swift pace, and this trend continues. There is a substantial demand for organic food and drink production in China and India.

“The organic food and beverage market garners a considerable global growth horizon. The market is in the growth stage and its support to the global organic food market to amplified significantly. The escalating price is an essential restraining factor in buying organic food and beverages.” says Nandini Roy Choudhury, Client Partner at Future Market Insights 

Key Takeaways

The fruits and vegetables segment in the product type category to grab a share of 43.6% in 2024.
In the distribution channel category, the hypermarket/supermarket segment to acquire a share of 37.40% in 2024.
India sales of organic food and beverages indicate a CAGR of 10.30% through 2034.
Japan organic food and beverage market reflects expansion between 2024 and 2034 at a CAGR of 9.60%.
Through 2034, China organic beverage market show escalation at a CAGR of 8.70%.
Between 2024 and 2034, Germany organic food and beverage industry imply growth at a CAGR of 8.30%.
The United States organic food and beverage market implies expansion at a CAGR of 7.50% through 2034.

Competitive Landscape

The global market is significantly competitive and fragmented due to the participation of several domestic and international organic food and beverage manufacturers. The prominent organic food and beverage vendors pay a lot of attention to purchasing these smaller producers to stay competitive. In contrast, new organic food and beverage producers primarily focus on product innovation to address customer choices and needs.

Eminent Developments

‘GO Organic!’ was launched as a consumer brand at Fruit Attraction 2023 in Madrid in October 2023 by Dole Food Company, Inc. The creation of Dole Organics was set up as a specialized subsidiary. Dole Organics is committed to strengthening the organic fresh produce market, facilitating cross-sector cooperation, optimizing supply chains, and guaranteeing continuous availability and standardization of organic products.
Organic Oatmilk was the first product released by So Delicious Dairy Free when it entered the oat milk market in April 2023. Made with organic oats and various ingredients, the product comes in two flavors: Original and Extra Creamy.

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Key Segments

By Product Type:

Fruits and Vegetables
Meat, Fish, and Poultry
Dairy Products
Frozen and Processed Foods
Non-dairy Beverages
Coffee and Tea
Beer and Wine
Other Food and Beverages

By Process:

Processed
Unprocessed

By Distribution channel:

Supermarket/Hypermarket
Specialty Stores
Convenience Stores
Online Sales Channel
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia and the Pacific
Middle East and Africa

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Valencene Market Projected to Exceed USD 9.2 Million by 2033, Boosted by Demand for Natural Flavor Enhancers—Future Market Insights, Inc.

According to a recent FMI report, the global valencene market is expected to grow at a CAGR of 5.2%. The market value is anticipated to increase from US$ 5.5 Mn in 2023 to US$ 9.2 Mn by 2033.

Valencene is a natural compound found in Valencia oranges and is used as a flavoring agent in the food & beverage industry. Rising demand for natural food & beverage ingredients and growing awareness about various health benefits of valencene are the major factors driving sales in the global market.

However, the high cost of valencene and stringent regulations regarding its use are restraining growth in this market to some extent. Valencene is used in various applications such as beverages, desserts, savory dishes, and others.

Moreover, valencene is considered to be the primary flavor compound in the popular citrus beverage named Orangina. It is also used as a flavoring agent in a wide variety of food and beverage products, including soft drinks, hard candies, ice creams, and chewing gums.

The valencene market is expected to grow significantly in the next ten years. The compound is already being used in a wide range of products, and its popularity is only expected to increase. There are numerous opportunities for key companies that produce valencene-based products, and the market is set to expand with the easy availability of such products.

On the other hand, there are several factors that may limit its use in food applications. One major issue is its low solubility in water. This means that it cannot be used as a direct flavoring agent in products such as soft drinks or juices.

Instead, it must be added to the product in the form of an oil or emulsion. This can increase the cost of production and may also affect the final flavor of the product. Another factor that can limit the use of valencene is its relatively high boiling point. This means that it can easily be lost during processing, thereby leading to a loss of flavor.

Key Takeaways from the Valencene Market Study:

The North America valencene market is expected to register a 38% CAGR between 2023 and 2033.
The market for valencene in China is projected to grow at a CAGR of 5.8% during the forecast period.
The demand for valencene is projected to grow at a CAGR of 6% in the U.K during the evaluation period.
The demand for valencene is projected to grow at a CAGR of 4.2% in India during the expected time frame.
The demand for valencene in Europe is expected to grow at 6.1% CAGR in 2023.

Competition Landscape: Valencene Market

Key players in the valencene market are Citrus World, Florida Chemical Company, Procter & Gamble Chemicals, and Symrise AG, Isobionics, Evolva, Vishal Essential Oils and Chemicals, Cvista, and Panta Manufacturing Company among others.

North America currently holds the largest market share, and this region is expected to continue to expand during the projection period. This can mainly be attributed to the region’s growing population and rising disposable income levels. Furthermore, the North America valencene market is expected to grow in the next ten years due to the presence of a favorable legal and regulatory environment.

The valencene market is highly competitive with various companies vying for a share of the pie. Leading players in the market consist of large multinational corporations with significant financial resources and marketing clout. They are all well-established companies with long-standing relationships with key customers in the food and beverage industry.

Competition in the valencene market is intense, with each company trying to gain an edge over its rivals. Price is a major factor in this market, as each company tries to offer its products at a competitive price. Marketing campaigns also play a significant role in this market, as they help to create high brand awareness and drive sales. Competition in the valencene market is expected to increase in the next ten years as more companies enter the market and try to gain a foothold.

Get Valuable Insights into Valencene Market

FMI, in its new offering, provides an unbiased analysis of the valencene market presenting historical demand data (2017-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for valencene market based on purity grade (1. <60%, 2. 60%-65%, 3. 66%-70%, 4. 71%-75%, 5. 76%-80%, 6. >80%), by form (food & beverage, personal care & home care), and by region (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).

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Valencene Market Outlook by Category

By Purity Grade:

<60%
60%-65%
66%-70%
71%-75%
76%-80%
>80%

By Application:

Food & Beverage
Personal Care
Home Care

By Distribution Channel:

Online
Offline

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Protein Supplements Market Estimated to Surpass USD 62,990 Million at an 8.5% CAGR Between 2023 and 2033, Says Future Market Insights, Inc.

As per the reports published by FMI, the global protein supplements market is projected to have an average-paced CAGR of 8.53% during the forecast period. The current valuation of the market is US$ 27.78 Bn in 2023. The market value of the protein supplements market is anticipated to surpass a market valuation of US$ 62.99 Bn by the year 2033. A historical market valuation of US$ 25.6 Bn has been recorded by the analysts of Future Market Insights for the concerned market during the base year.

FMI has analyzed that consumers across the globe are largely inclined towards food that is nutrient-dense. A surge in demand for on-the-go food consumption is identified to bolster the sales of protein supplements across 2033. Health awareness programs are raising awareness amongst the urban populace to consume nutritional diets for leading a healthy lifestyle.

Furthermore, young athletes are also highly consuming protein supplements for the benefits of building muscles, increasing strength, immunity improvement, and low blood pressure levels. The working population across the globe is highly reliant on protein supplements owing to the changing lifestyle and busy schedules. However, it is anticipated that the higher costs involved with the manufacturing processes of protein supplements are likely to impede the growth of the market through 2033.

Key Takeaways from the Protein Supplements Market

The protein supplements market has witnessed an approximate surge of US$ 2.18 Bn from the year 2022 to 2023.

The protein powder segment by form category is anticipated to hold dominant shares through 2033. In the base year, this segment accounted for a revenue share of 56%.

The ready-to-drink segment is progressing at a notable rate, registering a CAGR of 8.5% during the period of 2023-2033.

North America has emerged as the leading region with the U.S. holding dominant market shares. The country is expected to surpass a valuation of US$ 2.47 Bn by 2033.

“Demand for energy bars and RTD protein drinks from the health-conscious population is likely to curate lucrative growth opportunities for the key players in the protein supplements market.” – Says an FMI Analyst.

Competitive Landscape in the Protein Supplements Market

Due to the existence of numerous international and regional companies, the market for protein supplements is very competitive. To strengthen their position in the market, major players are implementing a variety of methods, including product portfolio growth and regional development. The key players are adopting various business strategies, such as mergers and acquisitions, to expand their geographic presence and consumer base across the world. Therefore, the market is projected to register significant growth through the forecast period.

Recent Developments

In December 2020, Cargill introduced a pea-based protein and added it to their existing product range for meeting the increasing need for protein supplements in the European region.
In November 2020, Verdient Foods acquired Ingredion. The purpose of this acquisition was to increase the net sales of the firm with the set-up of a manufacturing plant in Canada.
In March 2019, Quest Nutrition entered into distribution deals with BJ’s Wholesale and Sam’s Club for providing products across conventional grocery stores, specialty supplement stores, and convenience stores.
In April 2018, Abbott launched Ensure Max protein for targeting consumers above the age group of 50 years. The product aims towards providing all the protein for maintenance and rebuilding muscles with the right nutrition.

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Key Segments in the Protein Supplements Market

By Source:

Plant based
- Soy
- Spirulina
- Pumpkin Seed
- Hemp
- Rice
- Pea
- Others
Animal based
- Whey
- Casein
- Egg
- Fish
- Others

By Application:

Sports
Functional Food

By Distribution Channel:

Supermarkets & Hypermarkets

Online Stores
Direct to Customers
Others

By Form:

Ready to Drink
Protein Powder
Protein Bar
Others

By Gender:

Male
Female

By Age Group:

Millennials
Geneartion X
Baby Boomers

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Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Sports Drink Market Forecasted to Reach USD 56.8 billion by 2034, Driven by Fruit-Infused Varieties and Hydration Supplements, According to FMI

According to Future Market Insights, the global sports drink market size will reach US$ 30,634.10 Mn in 2023 and further grow at 6.0% CAGR throughout the forecast period (2023-2033). Overall sales of sports drinks are projected to total US$ 43,631.75 Mn by the end of 2033.

Growing health consciousness among consumers coupled with increasing consumption of sports drinks is a key factor driving the global sports drink market forward and the trend is expected to continue during the forecast period.

Sports drinks, commonly referred to as electrolyte drinks, are functional beverages that help athletes replace water, electrolytes, and energy, especially during arduous exercise. They have become an essential part of any workout routine and are mostly consumed by people seeking health benefits from their beverages.

Most sports drinks contain carbohydrates (glucose), caffeine, B vitamins, and electrolytes (sodium, magnesium, potassium, and calcium). These drinks quickly replace fluids lost during exercise and provide maximum energy uptake.

Rising popularity of fitness activities, growing concerns about physical well-being, and increasing number of athletes, especially across emerging nations are expected to boost the sports drink market during the forecast period.

Similarly, easy availability of ready-to-drink functional beverages through various sales channels and growing prominence of functional beverages like sports drinks, among sports enthusiasts and millennials as they help to enhance performance and endurance, and allow them to do vigorous exercises will elevate demand over the next ten years.

Sports drinks are increasingly becoming popular among consumers, especially millennials, as they are paying more attention to staying healthy. These drinks provide energy and stamina, reduce fatigue, increase endurance, and can help to rehydrate after exercise. Further, these sports drinks often have a pleasant taste which makes them appealing to many consumers.

However, a new study conducted by the University of Waterloo has found that sports drinks are not as beneficial for health as they are claimed to be. The study found that these electrolyte drinks do not improve physical performance or hydration in any significant way. This may hamper the market expansion to some extent.

Nevertheless, a positive growth trajectory has been predicted by FMI for the global sports drink market during the forecast period owing to the introduction and popularity of new innovative sports drinks globally.

Key Takeaways from the Sports Drink Market

The overall sports drinks market is expected to be valued at US$ 30,634.10 Mn by 2023.
The North America sports drink market is expected to register a 38% CAGR between 2023 and 2033.
The U.S., China, Canada, Germany, and Mexico are the major countries driving the demand for sports drinks.
The global market for sports drinks is estimated to surpass US$ 43,631.75 Mn by the end of 2033.
Sales of sports drinks market grew at 4.0% CAGR during the historical period from 2017 to 2022.

Competition Landscape: Sports Drink Market

Leading players in the global sports drink market include The Coca-Cola Company, PepsiCo Inc., Gatorade, Powerade, and V8, Powerade, and Body Armor among others. These companies are focusing on research & development activities to come up with innovative products in the market. besides this, they are strengthening their distribution channels and forming alliances and partnerships with other companies to solidify their position in the market.

Get Valuable Insights into the Sports Drink Market

FMI, in its new offering, provides an unbiased analysis of the sports drink market presenting historical demand data (2017-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for Sports Drink Market based on product type (isotonic, hypotonic, hypertonic), form (powered, liquid), packaging material (metal, pet/plastic, glass), distribution channel (offline, online retail), flavor (unflavored, flavored), & region forecast to 2023-2033.

About the Food & Beverage Division at Future Market Insights

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

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Sports Drink Market Outlook by Category

By Product Type:

Isotonic
Hypotonic
Hypertonic

By Distribution Channel:

Offline
- Store-Based Retailing
- Hypermarkets /Supermarket
- Convenience Stores
- Mom and Pop Stores
- Discount Stores
- Specialty Stores
- Independent Small Groceries
Online Retail

By Flavor:

Unflavored
- Flavored
- Citrus
- Berries
- Mocha
- Pomegranate
- Apple
- Mint
- Blends (Mix)
- Cola
- Watermelon
- Chocolate
Others

By Form:

Powdered
Liquid

By Packaging Material:

Metal
Pet/Plastic
Glass

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Fortified Pet Food Market Expected to Expand at 5.8% CAGR by 2034 Amid Rising Pet Humanization Trends

According to Future Market Insights, the global fortified pet food market is expected to reach USD 9,863.78 Mn in 2023 and further growth at 7% CAGR between 2023 and 2033. Overall sales of fortified pet food are poised to total a valuation of USD 16,067.06 Mn in 2033.

Pet food with added vitamins and minerals is becoming increasingly popular among pet owners as it helps them to improve the health of their companion animals. Fortified pet food offers many benefits such as improved nutrition, better digestibility, and enhanced immunity, and it is available in various forms such as dry food, wet food, and snacks.

The growth in the market is also being fueled by the rise in pet ownership rates and growing trend of pet humanization. Today, most pet owners are inclined towards improving health of their animals as they consider them as a part of their family. This has led to increased sales of fortified pet food products and the trend is expected to continue during the forecast period.

Similarly, growing focus on reducing disease development in pets and introduction of plant-based fortified pet food products are expected to boost the market over the next ten years.

As new manufacturers enter the market as well as demand for these products rises, the competitive environment of the fortified pet food industry is anticipated to change in the upcoming years. The current supply of fortified food products is not anticipated to be sufficient to meet the demand in the future, necessitating the entry of new manufacturers.

Small and medium-sized businesses are anticipated to be the new market entrants. These businesses will contend with fierce competition from the market’s established players, but they also stand to gain a sizable market share. Introduction of plant-based fortified pet food products will be a key tool for increasing sales during the forthcoming decade.

Regionally, Asia-Pacific fortified pet food market is predicted to grow at the fastest rate during the forecast period owing to the rising pet ownerships, growing pet spending, and increasing number of pet food manufacturers.

Key Takeaways from the Fortified Pet Food Market Study:

The global fortified pet food market is expected to reach US$ 9,863.78 Mn by 2023, growing at a CAGR of 7% during the forecast period.

Based on species type, dogs’ category is likely to generate the highest revenues in the global fortified pet food market during the assessment period.

North America and Europe together hold the largest share of the global fortified pet food market.

With increasing pet adoption rates, Asia Pacific is set to emerge as the most lucrative fortified pet food market during the forecast period.

Demand for fortified pet food products across the U.S. is likely to surge at a robust pace over the next ten years.

Who is Winning?

Key players operating in the global fortified pet food market include Royal Canin, Nestle Purina Pet Care Company, Mars Inc., Hill’s Pet Nutrition, Inc., Big Heart Pet Brands, and Blue Buffalo Co.

Get Valuable Insights into Fortified Pet Food Market

FMI, in its new offering, provides an unbiased analysis of the Fortified Pet Food market presenting historical demand data (2017-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for Fortified Pet Food based on species type (rabbit, rat, cat, dog, chinchillas, guinea pigs, gerbils, hamsters, ferrets, mice), micronutrients (vitamins, minerals, amino acids, nutrients), and application (basic food, processed food, extruded products) across several regions.

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Key Segments Covered in the Fortified Pet Food Market

By Species Type:

Rabbit
Cat
Dog
Chinchillas
Guinea Pigs
Gerbils
Hamsters
Ferrets
Mice

By Application:

Basic Food
Processed Food
Extruded Products

By Micronutrients:

Vitamins
Minerals
Amino Acids
Nutrients

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Global Sales of Alternative Proteins for Animal Feed Projected to Hit USD 388.5 Billion, Growing at 8.0% CAGR Through 2034

The global animal feed alternative protein market size is expected to reach USD 3.96 Billion and is projected to grow at a CAGR of 7.5% over the forecast period. As the world’s meat consumption rises, the demand for alternative proteins for animal nutrition will increase by the year 2033 and reach a value of USD 8.2 Billion.

Food demand is increasing due to an increasing world population. It is likely that animal protein will continue to be in high demand even as alternative protein sources become available. In order to meet this demand safely and sustainably, the feed industry will need to strengthen its relationships with producers of animal proteins from all species and geographies in order to successfully meet consumer demand.

Sustainability in breeding strategies is a major growth driver among dairy farmers. In the future, cattle husbandry will be industrialized more thoroughly, resulting in the use of compound feeds in appropriate quantities and advanced management practices. As a result, the cattle feed alternative protein market is expected to grow over the forecast period.

Key Takeaways from the Market Study

According to the report, the cattle livestock market is expected to reach US$ 2.6 billion by 2033.
The animal feed alternative protein industry is expected to grow at a CAGR of 7.5% between 2023 and 2033.
Insect Protein is expected to grow at a CAGR of 8.2% during the forecast period.
The global Hamlet Protein market is expected to grow at a CAGR of 8% between 2023 and 2033.
North American animal feed alternative protein sales are expected to grow 21% by 2033.

“Growing consumer awareness of pet health, increasing pet adoption, dairy farming, and technologies is likely to lead to an increase in animal feed alternative protein demand in the future,” comments an analyst at FMI.

Competitive Landscape
Hamlet Protein A/S, E.I. Du Pont De Nemours and Company, Archer Daniels Midland Company, Nordic Soy Oy, Deep Branch Biotechnology, CHS Inc., Agriprotein Gmbh., Darling Ingredients, Innovafeed, Ynsect, Angel Yeast, Calysta Inc., Lallemand, Inc., AB Mauri, Titan Biotech Limited Company, Sojaprotein, Crescent Biotech, The Scoular Company. Cargill Incorporated, Nutraferma LLC.

These firms are pursuing a number of strategies to improve their competitive position and gain market share, including launching new products, expanding their facilities, merging, collaborating, partnering, and acquiring to strengthen their competitiveness. For instance,

As part of its commitment to meet strong demand growth, ADM, a global leader in nutrition, is investing approximately $300 million to expand its alternative protein production in Decatur, Illinois. With the opening of a new protein innovation center, also in Decatur, ADM will enhance its alternative protein capabilities even further. This $300 million expansion will nearly double Decatur’s extrusion capacity of soy protein concentrate.

Powered by partnerships, innovation, and speed, the Decatur-based Protein Innovation Center will meet the growing needs of customers
BioMar and Deep Branch have formed a long-term technical and commercial partnership to enhance the efficiency, profitability, and sustainability of the aquaculture industry, as well as redefine traditional aquaculture feed ingredients. In the near future, the cooperation will focus on optimizing salmon feed by utilizing ProtonTM, a single-cell protein that Deep Branch has developed for the feed industry. Deep Branch creates ingredients for a more sustainable food system using clean and renewable carbon and energy sources.
A clear scale-up roadmap has been developed as the company deploys its proprietary technology across the value chain. Through collaboration with local raw material providers, Deep Branch ensures that customers have access to nutritious, high-quality food and feed.

More Valuable Insights Available

FMI, in its new offering, presents an unbiased analysis of the animal feed alternative protein market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.

The study divulges essential insights on the animal feed alternative protein market analysis report by Product (Insect Protein, Soy Protein Isolates, Soy Protein Concentrate, Fermented Soy Protein, Duckweed, Single Cell Protein, Grain Protein, Fungal Protein, Yeast Protein, Algae Protein, Others, Hamlet Protein, Others), by Livestock (Poultry(Broiler, Layer, Turkey, Other), Swine (Starter, GRower, Swo), Cattle (Dairy, Calf, Others), Aquaculture (Salmon, Trout’s, Shrimps, Carp, Others), Pet Food, Equine) and by By Region – Global Forecast 2022-2032

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Ready To Use Supplementary Food Market Anticipated to Exceed USD 1,646.1 Million by 2032

Ready To Use Supplementary Food Market

In 2022, the Sales of ready-to-use supplemental food are projected to be worth USD 643.2 million. The rising prevalence of undernourished children in developing nations, increased awareness of malnutrition and its preventative measures, and the continued expansion of RUSF products from UN agencies, charitable organizations, hospitals, pharmacies, and others are all factors in the market’s expansion. By the end of 2032, the market for ready-to-use supplementary food items is expected to be worth over USD 1,646.1 Million, expanding at a strong CAGR of 9.9% between 2022 and 2032.

The ready-to-use supplementary food has transformed the treatment of moderate malnutrition by providing essential nutrients, vitamins, and minerals-rich foods. These foods are safe and secure for direct consumption at home and support rapid weight gain in malnourished children. As per WFP and UNICEF estimations, 51 million children under five suffer from acute malnutrition globally. Malnutrition contributes to one million children’s mortality annually. Deficiency and access to essential nutrition required for growth is one of the major causes of malnutrition. Insufficient breastfeeding along with the practices of poor feeding, contributes to malnutrition.

Ready-to-use supplementary food is required to be eaten during a two to three months period, as part of a nutritional treatment program and is ideal for treating children above 6 months and older. The ready-to-use supplementary food is made with nutritious oil seeds/cereals /pulses, vegetable oils, milk powder, sugar, vitamins and minerals. This can be consumed directly by child and thus provides significant consumption for complete recovery from moderate malnutrition.

Global Ready-to-Use Supplementary Food: Market Segmentation

The global ready to use supplementary food market is segmented on the basis of raw materials, as sugar, milk powder/whey milk, vitamins and minerals, peanut/rice/legumes etc.

Raw materials composition for ready to use supplementary food are same however, the substitute ingredients can be used as per the availability and cost effectiveness of raw material. Also, the WFP guidelines for preparation/manufacturing of ready to use supplementary food needs to be strictly followed by the manufacturers.

Ready to use supplementary food market is later segmented on the basis of product type as, paste, compressed bar, and biscuits. Ready to use supplementary food market is lastly segmented on basis of regions as Latin America, North America, Middle East and Africa, Asia Pacific excluding Japan, Japan, Eastern Europe, and Western Europe.

Global Ready-to-Use Supplementary Food Market: Growth Drivers and Trends

Globally rising malnutrition and emergency situations are the major market drivers of ready to use supplementary food products in near future. Increasing various government such as UNICEF, WFP, UNCHR etc. focus on treatment and management of malnutrition is driving market growth for ready to use supplementary food.

Not only global but also the local governments in the developing countries, where malnutrition is major issue are also focusing on allocation of more budget to purchase and distribution of ready to use supplementary food products.

As local governments and NGOs are focusing on local production of ready to use supplementary food products, entry of various global as well as local market players is expected to intensify market growth of ready to use supplementary food products.Besides all this, rising awareness about the ready to use supplementary food products, across the globe is also one of the factor expected to fuel the growth of ready to use supplementary food market over the forecast period.

New trend in the market is procure and use locally manufactured ready to use supplementary food products with the use of locally available raw materials, without compromising quality and nutrient value.

Key Segments profiled in the Ready-to-Use Supplementary Food Industry Report

Ready-to-Use Supplementary Food Market by Type:

Solid
Paste

Ready-to-Use Supplementary Food Market by End Use:

Hospitals & Clinics
Charities
NGOs
Others

Ready-to-Use Supplementary Food Market by Sales Channel

Direct Sales
Retail Sales

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Frequently Asked Questions

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Growth Forecast for Plant-Based Iron Supplements Market at 5.5% CAGR from 2022 to 2032

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The plant-based iron supplements market is expected to grow at a CAGR of 5.4% from 2022 to 2032. The plant based iron supplements market is projected to be valued at US$ 208.5 Million in 2022 and is anticipated to reach US$ 352.9 Million by 2032.

Plant-based products are both healthier and safer than animal-based products. The plant-based iron supplements market is being driven by growing popularity of veganism around the world. Increased adoption of plant-based iron supplements is primarily due to their growing consumer popularity, as well as the product’s versatility in terms of application.

Plant-based iron supplements are linked to lower levels of the mineral in the body. A research study published in the Journal of Nutrition looked at how different types of iron supplements affect absorption. While previous studies have shown that plant-based iron supplements are not well absorbed as animal-based products, this new research shows that they may still have some benefits.

Plant-based iron supplements are usually cost-effective and easier to find than animal-based products, making them a good option for people who are looking for an affordable way to supplement their diet. which has led to growing consumer preference for it and, in turn accelerate the plant-based iron supplements market in the next ten years.

Another factor driving the sales of plant-based iron supplements is the growing popularity of plant-based diets. More and more people are looking to reduce their meat consumption for health, environmental, or ethical reasons. As a result, they are turning to plant-based sources of nutrients like iron. To keep up with the plant-based iron supplements market trends, plant-based iron supplements manufacturers are developing novel ways to incorporate their products into various processed foods.

Key Takeaways: Plant Based Iron Supplements Market

India currently has a plant-based iron supplements market share of around 8% in South Asia.
By type, the ferrous gluconate segment is expected to generate a plant-based iron supplements market share of 4% in 2022.
Based on application, the sports nutrition segment is set to account for a plant-based iron supplements market share of 2% in 2022.
During the forecast period, the plant-based iron supplements market in the U.K. is expected to grow at a rapid CAGR of 0%.
During the forecast period, the Germany plant-based iron supplements market is likely to grow at a high CAGR of 5%.

“Demand for plant based iron supplements is set to surge at a fast pace in recent years owing to a rapidly growing number of vegans and increasing health awareness among consumers. Development of energy-rich offerings and rising need for clean label ingredients, especially in developed countries are projected to spur the market in the next ten years,” says a lead analyst at Future Market Insights.

Competitive Landscape: Plant Based Iron Supplements Market

Top 5 manufacturers of plant-based iron supplements are Naturelo, Garden of Life, MegaFood, and New Chapter. Together, these companies are currently holding 20% to 30% of the plant-based iron supplements market share.

Companies are using plant-based iron supplements to increase their employees’ health and productivity. Iron is an essential mineral that helps to transport oxygen to cells and produces energy in the body. Unfortunately, iron deficiency is common, especially among women of childbearing age.

Supplementing with iron can help prevent fatigue, improve work performance, and reduce the risk of health problems associated with iron deficiency. With increasing research & development activities and technological advancements, companies are finding new techniques to effectively use plant-based iron supplements to their maximum potential.

Plant-based iron supplements are used by companies like Naturelo. The main source of iron in these supplements comes from plants such as spinach and kale. Some products also include other ingredients such as vitamin C, which can help improve absorption. Iron is an important mineral for maintaining health. It plays an important role in helping to transport oxygen in the blood and supports a healthy immune system. Many people do not get enough iron in their diet and so taking a supplement can be helpful.

Get More Valuable Insights on Plant Based Iron Supplements Market

Future Market Insights, in its new offering, provides an unbiased analysis of Plant-Based Iron Supplements presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study provides valuable insight on the plant-based iron supplements market based by type (ferrous sulfate, ferrous gluconate, ferric citrate, ferric sulfate), by form (tablet, liquid, capsules, syrup) by application (additional supplements, sports nutrition, medicinal supplements), and region.

Frequently Asked Questions

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About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.