Market Research Blog – Page 11842 – New Product Development

Wine Market expected at a CAGR of ~5.1% & US$ 846.3 Bn during the forecast period 2022–2032

The global demand for Wine Market is expected to increase at over 5.1% CAGR, surpassing US$ 846.3 Bn between 2022 and 2032. Growth in the market is attributable to increasing consumption of red wine due to its varied health benefits.

Attribute	Details
Wine Market Estimated Size (2022)	US$ 513.8 Bn
Wine Market Projected Size (2032)	US$ 846.3 Bn
Value CAGR (2022-2032)	5.1%
Wine Market Top Players Share in 2021.	10%-15%

According to the World Health Organization (WHO), more people die each year from cardiovascular disease (CVD). As per the WHO, red wine have several health benefits such as weight loss, low blood sugar levels and others. Hence, wine is being promoted as a healthy beverage.

Sales of organic wine are expected to remain high during the projected period. Growing trend for organic products due to increasing health awareness is also favoring the growth in the market. Hence, demand for organic wine from the retail and restaurant is expected to increase at a robust pace overt the forecast period.

Consumption of organic wine is rapidly expanding, especially in Germany and France, according to Future Market Insights. Also, advent of sustainable winemaking processes has encouraged the sales of organic wines.

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Key Takeaways from the Wine Market Study

The U.S. held more than 67.6% of market share in North America in 2021 owing to the upsurge in the number of bars and restaurants in recent years.
Italy wine market is expected to exhibit growth at a CAGR of 4.3% for due to the easy availability of grapes for wine production.
In terms of type, the sparkling wine segment will dominate the market, registering growth at 8.5% CAGR between 2022 and 2032.
In terms of price range, US$ 10- US$ 15 held over 39.1% of market share in the global wine market

“Improving lifestyle, increasing penetration of online sales channel and the internet, and growing consumption of red wine for recreational purposes are some of the factors driving the sales of wine across the globe,” says an FMI analyst.

Who is winning?

Leading manufacturers of Wine are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of wine globally. Major players present in the wine market are The Wine Group, John Distilleries, International Beverage Holdings, Halewood Wines International, Sula Vineyards Pvt. Ltd., Asahi Group Holdings, Ltd., Beijing Yanjing Beer Group Corporation, Castel Frères, Accolade Wines, Constellation Brands, Treasury Wine Estates (TWE), Pernod Ricard, and E. & J. Gallo Winery among others.

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Global Wine Market By Category

By Type:

Sparkling Wine
Dessert Wine
Red Wine
White Wine

By Price Range:

Below US$ 5
US$ 5-10
US$ 10-15
Above US$ 15

By Source:

Organic Wine
Conventional Wine

By Region:

North America
Latin America
Europe
East Asia
South Asia
Ocea
MEA

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About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Herbal Beauty Products Market will reach valuation of US$ 63 Bn by 2022 and is expected to grow at CAGR ~ 6.1% for 2022–2031

Future Market Insights (FMI) delivers key insights on the Europe & Asia Pacific herbal beauty products market in its upcoming outlook titled, “Europe & Asia Pacific Herbal Beauty Products Market: Industry Analysis and Opportunity Assessment, 2016–2026”. In terms of value, it is expected that the Europe & Asia Pacific herbal beauty products market will register a CAGR of 3.7% during the forecast period due to various factors, on which FMI offers vital insights in detail.

Attribute	Details
Estimated Herbal Beauty Products Market Size 2021	US$ 63 Bn
Value CAGR (2021-2031)	6.1%
Herbal Beauty Products Market Top Players Share in 2021.	2%-5%

Consumer preference for clean label beauty care products is shifting significantly due to increasing awareness regarding the benefits of herbal and natural ingredients. Consumers are increasingly opting for greener products owing to presence of toxic ingredients in synthetic cosmetic products, which are known to cause various adverse effects. Moreover, consumers are currently more informed regarding the benefits of using herbal products through promotions, advertisements and activities on various social media platforms. Herbal skin care products improve skin texture, tone and appearance owing to presence of nutrients required to enrich overall skin health. Increasing consumer demand for eco-friendly personal care products has prompted companies to enter into the herbal and natural personal care products market and develop new and advanced products. Manufacturers are continuously launching herbal personal care products with remedial properties and long-term benefits, which is resulting in addressing existing consumer requirements and aiding in expanding customer base.

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Segmentation analysis

On the basis of end-use, the Europe & Asia Pacific herbal beauty products market is segmented into male and female. Female segment is estimated to account for the largest share by 2016 end. Male segment is expected to account for substantial growth over the forecast period. Increasing inclination of male consumers towards personal grooming and outward appearance among is expected to support growth of the male segment over the forecast period.

Europe & Asia Pacific herbal beauty products market is also segmented on the basis of distribution channel which includes supermarket, specialty stores, departmental stores, drugstores, online/direct selling, and beauty salons. Among all these segments, supermarket segment is expected to account for relatively higher value share during the forecast period. Specialty stores segment has been estimated to occupy the second largest share accounting for 21.1% value share in 2015.

As far as the types of herbal beauty products are concerned, Europe & Asia Pacific herbal beauty products market is segmented into skin care, hair care, oral care, and fragrance. Among all these segments, skin care type segment has been estimated to represent 45.7% value share in 2016 and expected to remain dominant over the forecast period.
Increasing acne issues owing to increasing humidity and pollution levels is expected to drive growth of the skin care type segment in the market during the forecast period. Skin care segment is sub-segmented into cream & lotion, cleanser & toner, facewash & scrub and others. Among these sub-segments, cream and lotion is expected to account for major value share over the forecast period.

Hair care segment is expected to occupy second largest position on the pie in terms of revenue contribution. The Hair care segment is sub-segmented into powder, hair oil, conditioner, shampoo, and others. The Oral care segment is likely to represent substantial growth over the forecast period. The segment is projected to represent 3.1% CAGR in terms of value growth by 2026 end.

Regional analysis

This report discusses trends driving growth of each segment and offers analysis and insights of the potential of the Europe & Asia Pacific herbal beauty products market in specific region including Asia Pacific (APAC) and Europe. Markets in APAC are expected to record high growth rates in terms of value between 2016 and 2026. Japan has been estimated to be the largest consumer of herbal beauty products followed by China in 2015 across the APAC region.

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Vendor insights

This report covers detailed profiles of key players in Europe & Asia Pacific herbal beauty products market, which includes key strategies, key developments, product offerings and others. Key companies profiled in this report are Bio Veda Action Research Co., VLCC Personal Care Ltd., Surya Brasil, Dabur India Ltd., Himalaya Global Holdings Ltd., Lotus Herbals, Hemas Holdings Plc, Sheahnaz Herbals Inc., and Herballife International of America Inc.

Market segmentation

By Type

Hair Care
- Hair Oil
- Powder
- Shampoo
- Conditioner
- Others (Masks and creams)
Skin Care
- Cleansers & toners
- Cream & lotion
- Scrubs & facewash
- Others (mask)
Fragrance
Oral Care

By End Use

Male
Female

By Distribution Channel

Supermarket
Specialty Stores
Departmental Stores
Drug Stores
Beauty Salons
Online/Direct Selling

By Region

Europe
Asia Pacific (APAC)

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Powder Induction and Dispersion Systems Market Key Factors, Comparison with Prior Studies and Consistency in Demand-2029

The global powder induction and dispersion systems market size is expected to reach US$ 3210.1 Mn by the end of 2029. According to the report, market is expected to expand rapidly in the target market in the coming years due to rapid industrialization, which in turn increases demand for powder induction and dispersion, supports revenue growth for powder induction and dispersion. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.

Powder induction and dispersion system is a highly efficient and versatile powder system that helps remove the formation of dust which may contaminate food products. This therefore makes the environment around the machine clean and safe hence saving money by reducing the loss of power. Preferably these systems are used for processing nutrients of all kinds.

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As COVID-19 spreads around the world, the powder induction and dispersion systems market will continue to experience disruption. In addition, evidence of global supply chain issues can be seen as year-to-date imports. The supply of these goods will suffer as demand is likely to drop in response to the curbs implemented to contain the spread of the virus.

Shutdowns Due to COVID-19 Outbreak will Negatively Impact Growth

Coronavirus outbreak has resulted in sharp decline in consumer demand which in turn, will adversely affect the powder induction and dispersion systems market. Manufacturers expected to get hit the worst. The manufacturers are also expected to sustain or grow sales in the coming months. Lower shopping activity as a result of shutdowns is anticipated to negatively affect demand. Difficulty in obtaining goods or needing to source them from countries with higher production costs can dampen demand for wholesalers of this market.

It includes in-depth insights into the powder induction and dispersion systems market. Some of these are:

The estimated value of the market was at US$ 1890 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
Asia-Pacific powder induction and dispersion systems market is estimated to grow at a healthy pace.
China and India are expected to hold considerable share in terms of revenue in the Asia-Pacific market over the forecast period.
In-line mixing type is projected to witness the fastest growth during the forecast period owing to the availability of aftermarket solutions.
Increasing use of conventional power induction technology in different industries restrains this market development.
Growing demand for powder induction and dispersion systems in various applications coupled with the presence of manufacturers in countries in the region are some of the factors anticipated for fuel growth in the Asia Pacific market for powder induction and dispersion system market.

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Who is Winning?

Some of the major players operating in global powder induction and dispersion systems market are Admix Inc., Axiflow Technologies, Charles Ross & Son Company, Hayward Gordon Group, IDEX Corporation, IKA Werke GmbH, John Bean Technologies Ltd., Joshua Greaves & Sons Ltd., Noritake Co. Ltd., Silverson Machines Inc., SPX Flow and Ystral GmbH.

Major industries are estimated to be government & defense, education & research, manufacturing, media & entertainment, healthcare & life sciences, energy & utilities, and earth sciences. These industries have an established base resulting in stable market demand. In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.

POWDER INDUCTION AND DISPERSION SYSTEMS MARKET TAXONOMY

The global Powder Induction and Dispersion Systems market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

Application

Food & beverages
Pharmaceuticals
Cosmetic and personal care products
Chemicals

Type of Mixing

In-tank mixing
Inline mixing

Process

Continuous
Batch

Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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POWDER INDUCTION AND DISPERSION SYSTEMS MARKET – KEY RESEARCH FINDINGS

The global market is expected to reach US$ 3210.1 Mn by the end of 2029.
The continuous processing segment is projected to account for a largest share in the market in terms of revenue in the coming years.
The in-line segment based on the mixing method is projected to exhibit the highest growth over the forecast period.
The pharmaceuticals segment is expected to lead the market, based on application.
Recent developments and advancements in material and device dispersion techniques are projected to create lucrative growth opportunities over the forecast period.
North America is estimated to have the largest share over the forecast period, while the Asia Pacific market is expected to expand at the highest CAGR.

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Robotic Vacuum Cleaners Market expected to reach US$ 13.78 Bn & ~14.50% CAGR through 2022-2031

In 2021, it’s anticipated that the market for robotic vacuum cleaners will surpass a US$ 3.5 Bn worth. Through 2031, a CAGR of more than 14.50 percent is anticipated.

Vacuum cleaner technology has made great strides in recent years. Robotic vacuum cleaner sales are growing because of its capacity to clean an area without involving a human.

Robotic vacuum cleaners can also be equipped with revolving brushes, mopping, and UV sterilisation. Some are made to handle domestic cleaning tasks well. Robotic vacuum cleaner manufacturers are incorporating security cameras, intercom systems, and other features in order to provide higher efficiency and high performance.

Robotic vacuum cleaners are a result of technological advancements enabled by artificial intelligence (AI) and the internet of things (IoT). They can be programmed and operated remotely to execute their cleaning tasks and they are clever enough to do it with minimal human intervention. With their advanced technologies, robots are playing an increasingly essential role in modern society, making human life easier and more comfortable.

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Data Points	Market Insights
Robotic Vacuum Cleaners Market Value (2021)	US$ 3.5 Bn
Robotic Vacuum Cleaners Market Estimated Year Value (2031)	US$ 13.78 Bn
CAGR 2021-2031	14.50%

Market players are concentrating on producing more technologically advanced robotic vacuum cleaners using cutting-edge technology such as artificial intelligence (AI) (Artificial intelligence). Samsung Electronics, for example, released an AI robot vacuum cleaner in 2021 that has improved object identification and operation performance due to artificial intelligence (AI) technology.

The BESPOKE Jetbot AI is a smart robot vacuum cleaner designed to clean itself and empty its dust bin. It is the world’s first robot cleaner to be equipped with Intel’s artificial intelligence (AI) solution (Intel Movidius), which enables the robot cleaner to reason independently like humans.

Key Takeaways from the Robotic Vacuum Cleaners Market Study

In terms of robot type, the in-house robot segment is projected to account for 75.9% of the total robotic vacuum cleaners market share in 2021.In terms of mode of charging, auto battery charging type accounts for 70.9% of the total robotic vacuum cleaners market share in 2021.The US is a key market in North America, accounting for 91.5% of robotic vacuum cleaners sales in the region in 2021.The U.K. will emerge as a highly lucrative market within Europe, exhibiting 7.5% CAGR.

“Customers from diverse sectors are increasingly turning to automated products to save time and energy. Within the household sector, the demand for smart home technology is on the rise. This has created ample prospects for the expansion of the robotic vacuum cleaners market,” says an FMI analyst.

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Impact of COVID-19 on the Market

The COVID-19 outbreak had a wide-ranging impact, including the closure of all non-essential businesses and retailers, leading to a loss of corporate confidence, heightened public worry, and future uncertainty. It has spread indiscriminately over the world, resulting in a hazardous indoor atmosphere. The production rate of these vacuum cleaners had fallen dramatically all over the world as a result of the sudden shutdown of manufacturing factories. Restrictions imposed hampered sales as well as international export and import.

Furthermore, the COVID-19 created new opportunities for robotic vacuum cleaner manufacturers. Due to the need for cleanliness and hygiene in homes and business spaces, industry players saw higher sales of robot vacuums beginning at the second quarter of 2020. Consumers bought robotic vacuum cleaners to keep the virus from spreading in their homes.

Additionally, according to International Federation of Robotics sales value for robots has increased by 32% to USD 11.2 billion and the recent Covid-19 pandemic is further expected to boost the market.

Who is winning?

Leading manufacturers of robotic vacuum cleaners are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of robotic vacuum cleaners globally.

Major players present in the robotic vacuum cleaners market are iRobot Corporation, LG Electronics, Robert Bosch GmbH, Samsung Corporation, Dyson Ltd., Panasonic Corporation, Xiaomi, ECOVACS, Proscenic, Neato Robotics, Inc., Yujin Robot, Co., Ltd., Hayward Industries, Inc., Pentair plc, Milagrow Business & Knowledge Solutions (Pvt.) Limited. Koninklijke Philips N. V, among others.

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Global Robotic Vacuum Cleaners Market by Category

By Robot Type:

Outdoor Robot
In-House Robot

By Mode of Charging:

Manual Charging
Auto-Battery Charging

By Region:

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

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Bottled Water Processing Equipment Market Segment, Expansion of Retail Market with Growth Prospects Analysis-2030

Extensive restrictive measures set up by governments around the world to combat the global coronavirus outbreak are creating logistical challenges for the bottled water processing sector. While this is creating new bottlenecks in the sector, consumers continue to prefer stockpiling of essential commodities. This remains the key factor sustaining demand for bottled water even during the global COVID-19 crisis.

Global bottled water processing market has been projected to reach the valuation of over US$ 392 Bn between 2019 and 2029, as indicated by a new Future Market Insights (FMI) report. Bottled water processing activities will remain strong amid the pandemic, as a lack of adequate clean drinking water continues to be a critical problem across several economies.

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“A key factor driving growth of the global bottled water processing market is the rising demand for high-quality water from consumers with health concerns during the pandemic. Further, attractive packaging and product launches offered by leading players are likely to aid growth in the market,” says the FMI analyst.

Key Takeaways of Bottled Water Processing Market Study

Sales of still water will continue to hold the lead for drinking water applications, while demand for sparkling water is witnessing a higher growth rate.
Demand for PET bottle packaging is set to remain significant owing to lower costs and durability.
Reverse osmosis applications will hold pole position, while ultrafiltration will gain ground as a lucrative application area during the forecast period.
Asia Pacific will hold a major share of the global bottled water processing market, driven by rapid population growth and extensive contamination of drinking water resources in the region.

Bottled Water Processing Market – Key Growth Factors

High consumption of bottled water and tech advances in processing equipment are the primary factors sustaining growth through the forecast period.
Changes in government policies towards water resources drive the market growth through the forecast period.
Rising awareness among consumers on water and wastewater treatment procedures and importance of essential resources support demand.
New flavored product launches for millennial consumer demographics will support the market growth through 2029.

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Explore the full bottled water processing market report with 112 illustrative figures, 128 data tables and table of contents.

Bottled Water Processing Market – Key Restraints

High capital requirements for the development of new production facilities hinder market growth.
Environmental concerns of associated with the production of bottled water, and pollution from plastic bottle waste is having a negative impact on the market.

Impact of COVID-19 on Bottled Water Processing Market

While the COVID-19 virus continues to spread rapidly, the global demand for bottled water is anticipated to stay high. In addition, the growth in demand is also supported by government initiatives to provide populations in remote locations with essential commodities under the lockdown period. The outbreak is expected to generate bottlenecks owing to supply chain disruptions.

The demand for bottled water is unlikely to go down during the pandemic, sustaining sales in the market. Stockpiling activities by consumers would create temporary shortages of bottled water but creating lucrative opportunities in the near future.

Competitive Landscape of Bottled Water Processing Market

Some of the major companies profiled in this FMI report include, but are not limited to, Axeon Water Technologies, Pall Corporation, NorlandInternational Inc., Dow Chemical Co., Seychelles Environmental Technologies Inc., Velocity Equipment Solutions Inc., General Electric, and Liquid Packaging Solutions Inc. Players in bottled water processing market are leveraging consumer concerns about chemical pollutants, and the lack of legislation for the protection of safe drinking water around the world.

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BOTTLED WATER PROCESSING EQUIPMENT MARKET TAXONOMY

The global Bottled Water Processing market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

Equipment

Filter
Bottle washer
Filler & capper
Blow molder
Shrink wrapper

Technology

RO
UF
MF
Chlorination
Washing
Filling

Application

Flavored water
Mineral water
Still water
Spring water

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Air Purifier Market expected to reach US$ 10 Bn & ~11.3% CAGR through 2022-2031

In 2021, it’s anticipated that the market for air purifiers would surpass a US$ 10 Bn worth. Through 2031, it is anticipated to expand at a CAGR of almost 11.3 percent.

Air Purifier Market Base Year Size (2020)	US$ 10 Bn
Air Purifier Market Value CAGR (2021-2031)	11.3%
In-mold Labels Market Top Players Share (2021)	42%

North America is predicted to dominate the global air purifier market. Due to the increased incidence of airborne illnesses in the U.S., there is a significant demand for air purifiers. Americans are using air purifiers increasingly frequently to ensure healthy home air quality.

The most effective way to remedy poor air quality appears to be with air purifiers.

The air purifier market has seen a lot of claims made by manufacturers in order to promote their brand and level up the competition. As a matter of fact, consumer purchase patterns are often influenced by company claims.

To attract a larger audience of customers, manufacturers and brand owners have concentrated on enhancing the effectiveness and efficiency of their products. For instance, LG said that it will create a unique cover for the PuriCare Wearable Air Purifier in 2020 that would employ its UVnano sterilisation technology to kill 99.99 percent of germs in just 30 minutes.

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Global Air Purifier Market Outlook Compared to Growth Registered in 2016-2020

The outbreak of the novel COVID-19 dampened sales prospects due to restrictions impos4ed on, which also caused disruptions in supply chains activities across various industries. Contrary to this, the unprecedented pandemic outbreak also made people more cautious about air they breathe.

The focus on disinfection and living in a hygienic environment was at its peak during COVID-19, which has helped the air purifier market to recuperate from the pandemic-induced restrictions.

In the coming years, the demand for air purifier will get stronger, especially as consumers exhibit higher willingness to maintain healthy indoor air quality. Driven by this, the global air purifier market will exhibit 11.3% CAGR between 2021 and 2031 in comparison to 8.5% CAGR exhibited in 2016-2020.

The demand for air purifier for home and offices is predicted to increase significantly over the forecast period. Increasing online penetration of leading air purifier manufacturers will also aid growth in the market.

High installation of air purifiers in schools, hospitals, and other institutions is likely to remain a chief growth driver. The demand from commercial sector will rise as well. More than 80% of the overall revenue from air purifiers is expected to come from the commercial sector. This is owing to manufacturers’ growing efforts to diversify their economies and develop innovative products.

Key Takeaways from the Air Purifier Market Study

In terms of technology, HEPA filters account for a major share in the air purifier market. Demand in this category is expected to grow at a CAGR of 4.3% in 2020.
Leading companies in the air purifier market will cover nearly 42% of sales.
The U.S. will account for maximum demand in North America, sealing its dominance in the global market.
Demand in the U.K. will grow at an impressive pace, pushing overall growth in the Europe market.

“As competition continues soaring, market players are likely to focus on making air purifiers smarter. They are integration concepts of artificial intelligence to enable improve machine-human interaction,” says an FMI analyst.

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Impact of COVID-19 on the Market

The current pandemic outbreak has created numerous challenges on the part of supply side and demand side. The temporary restrictions imposed by regional governments on the movement have impacted supply chains drastically. Besides this, the shift from discretionary spending to essential goods has further negatively impacted the market growth.

On the flip side, the change in consumer buying habits has encouraged a shift from store based retailing to online retailing, facilitating a wider market reach. This is expected to aid in the global market recovery.

Who is Winning?

Leading manufacturers of air purifier are focusing on aggressive promotional strategies, advertisements, and new product launches to drive sales growth of air purifier globally.

Major players present in the air purifier market are Koninklijke Philips N. V, LG Electronics Inc., Xiaomi Corporation, Afpro Filters B.V., Dyson Ltd., Godrej Appliances, Condair Group AG, Daikin Industries, Ltd., Honeywell International Inc., Whirlpool Corporation, Japan Air Filter Malaysia Sdn. Bhd., Hitachi Limited, Dyson Technology Ltd, and Panasonic Corporation among others.

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Global Air Purifier Market by Category

By Technology Type:

HEPA
Electrostatic Precipitator
Ion and Ozone Generators
Activated Carbon
Other Technologies

By Coverage Area:

Below 250 Sq. Ft.
250-400 Sq. Ft.
401-700 Sq. Ft.
Above 700 Sq. Ft.

By Region:

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

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Phycocyanin Market Growth Ratio, Macro and Micro Economic Indicators wit8h Consumer Insights-2031

Phycocyanin possess anti-inflammatory, anti-oxidants, and hypolipidemic properties due to which it is in high demand in the cosmetics industry. Future Market Insights (FMI) in a study has forecast the global phycocyanin market to reach US$ 136.5 Mn in 2021. Phycocyanin consists of antioxidants such as Beta-carotene and Vitamin A, C and E in large quantities, which are helpful in providing skin nourishment. Increasing awareness regarding various health benefits of phycocyanin besides its anti-cancer properties will fuel its use in cosmetics products.

This is because consumers nowadays are likelier to choose treatment that doesn’t require consumption of medicines. The demand for more natural ways of preventing chronic ailments will bode well for the market. Cosmetics made from phycocyanin witnesses a high demand in the due to their wide use in spa, cosmetics such as American ginseng extracts and herbal treatment.

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Lately, manufacturers have started producing cosmetic products from phycocyanin that are capable for improving cutin degeneration and also has properties of skin nourishment and preventing from ultraviolet irradiations. Further, there is also growing market in the areas of skin whitening, anti-aging and pigmentation reducing products.

Despite rising demand from cosmetics industry, the food and beverages sector will continue dominating the market through the forecast period. The rising demand for food containing natural colors and in general aversion towards artificial ingredients and additives will strengthen phycocyanin presence in the food sector. FMI has projected the food and beverages industry to account for nearly 85% of the overall market in 2021.

Key Takeaways from the Phycocyanin Market Study

The global phycocyanin market is set to 7.1% Y-o-Y growth in 2021, driven by increasing application across diverse industries The U.S. remain an attractive market, accounting for over 82% of phycocyanin sold in North America in 2021 Demand from U.K. will rise considerably. The U.K. market for phycocyanin is expected to register 7% Y-o-Y growth in 2021 Germany and France will emerge as other attractive markets in Western Europe China and India will emerge as lucrative pockets in Asia Pacific excluding Japan Japan market will record 5.7% Y-o-Y growth in 2021 in terms of value

“In order to gain competitive advantage, market players have been focusing on research and development initiatives. This is especially common among new entrants intending to seal their position with the launch of innovative products in the market,” said a lead FMI analyst.

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Who is winning?

Several top manufacturers of phycocyanin are concentrating on providing phycocyanin at an optimum price, owing to their increasing demand among consumers. Different companies have implemented integrated production approach to delivering cost-effective products in the market to escalate their industry footprints and to upsurge their production capacity. Prominent players of phycocyanin are endowing in research and development to produce organic, non-GMO products from phycocyanin.

A few of the leading players operating in the Phycocyanin market are Chr. Hansen Holding A/S, Cyanotech Corp, DDW Inc., DIC Corporation, Dongtai City Spirulina Bio-Engineering Co., Ltd., Fuqing King Dnarmsa Spirulina Co., Ltd., GNT Holding B.V., Sensient Technologies Corp., Parry Nutraceuticals Limited, Döhler GmbH, Naturex S.A., Naturalin Bio-Resources Co., Ltd, Far East Bio-Tec Co., Ltd., Fraken Biochem Co., Ltd. and other players.

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Termite Bait Products Market is estimated to grow at a CAGR of 5.6% during 2022-2031

According to FMI, the market for termite bait products would generate US$ 1.39 billion at a CAGR of 2.2 percent in 2021. The market is anticipated to experience a CAGR of 5.6 percent between 2021 and 2031.

The demand for termite bait products has grown as a result of actively increasing expenditure in research and development (R&D) operations to create a better and long-term solution. Additionally, the changing consumer mindset toward adapting for solutions that are safe for the environment and surrounds is probably going to aid the market expansion for termite bait goods.

The termite bait products industry, driven by soaring demand, represented 6.4% of total sales recorded in the global pest control services market in 2020.

Estimated Termite Bait Products Market Value (2021E)	US$ 1.39 Bn
Estimated Termite Bait Product Market Value (2031E)	US$ 2.39 Bn
Value CAGR (2021-2031)	5.6%

A CAGR of around 5.6 percent is anticipated for the termite bait products market through 2031, surpassing a valuation of US$ 2.39 billion. The ability to broaden their product offerings and give specialised solutions to numerous industries has been made possible by the advancement of technology. The market’s growth is now being significantly hampered by the lack of proper awareness of termite bait products. To raise awareness of the products that are offered, however, a number of businesses are working together. For instance, Insect Science debuted brand-new videos on its YouTube channel in 2021 that explain and demonstrate new products. The videos included an in-depth explanation of how the gadget functions and how to install it successfully.

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Moreover, businesses are launching diverse product lines that are targeted towards particular species.

As time and study permit, businesses are also developing diverse product lines that are centred on a particular species of termite and its behaviour. For instance, the 2nd Edition-Moisturized White Bait, a new product line from Termites DIY Baiting System Malaysia, was introduced in 2017 and is intended to completely eradicate a termite colony and offer a long-term solution.

The market for termite bait products will be driven by an increase in demand in the construction sector and the launch of products with high strength and low cost.

Key Takeaways from the Termite Bait Products Market Study

Surging application in agricultural land and crops and building infrastructure will drive sales in the termite bait products market.
The U.S. is expected to account for over 82% of sales in North America market by 2031.
Italy will account for maximum sales of termite bait products in Europe.
In terms of bait system, demand for on ground bait systems is expected to grow at a CAGR of over 11.3% during the forecast period from 2021 to 2031.
Subterranean termites are expected to account for over 40% of sales in the market on the basis of termite type.

“Leading companies are actively engaging in promoting and launching new products. To create awareness about termite bait products and expand their global, the market players are focusing on strategic collaborations,” says an FMI analyst.

Who is Winning?

Leading manufacturers of termite bait products are focusing on aggressive promotional strategies, advertisements, and new product launches to drive sales globally.

Major players present in the termite bait products market are BASF, Bayer, Decke Global, Dow, Earth Corporation, Ensystex, Exterminex, Exterra, Green Termite Bait Systems, PCT International, Pestman Co. Ltd., Shenzhen Golden Cat Environmental Technology Co., Ltd, Shouxin, Spectrum Brands, Inc., Sumitomo Chemicals Co., Ltd, Syngenta, Terminix, Termites DIY, and TrapAll among others.

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Impact of COVID-19 on the Market

The sudden COVID-19 epidemic halted all activities, negatively impacting the economics of all markets. It also had a negative impact on the sale of termite bait. Furthermore, the temporary halt in trade between developed and developing countries resulted in a shortage of raw materials, hurting industrial capacity.

However, with the growing concerns regarding personal health and rising demand for safe environment, the sales of termite bait products has picked up. The demand for products containing organic ingredients is expected to increase at a higher rate.

Market by Category

By Bait System:

On Ground
In Ground
- Invasive
- Non-Invasive

By Termite Type:

Subterranean Termites
Formosan Termites
Dampwood Termites
Conehead Termites
Others

By Region:

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

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Layer Pads Market Share and Growth Factors Impact Analysis 2031

As per Future Market Insights (FMI), the global layer pads market is poised to expand at 5.6% CAGR, topping the shipment of ~750’000 Tonnes between 2021 and 2031. The market is expected to register year-on-year growth of 5.4% in 2021.

Growing preference for sustainable layer pads to protect the good during transit will propel the sales of layer pads.

In response to the growing demand for sustainability, companies are manufacturing corrugated and chipboard layer pads to meet the surging demand from chemical and beverages industries. Higher use in packaging and transit of hazardous chemicals worldwide also will spur the sales of layer pads.

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FMI has predicted the sales of paperboard layer pads to grow considerably over the forecast period. However, as plastic layer pads are economical and are durable, some of the end-users will continue preferring plastic layer pads in place of eco-friendlier alternatives.

On the flip side, stringent regulations imposed by on the use of plastic are expected to push the sales of paperboard layer pads. Driven by these factors, sales of layer pads are expected to reach US$ 1.17 Bn through 2021.

Key Takeaways from FMI’s Layer Pads Market Study

In terms of end-user base, almost 80% of layers pads sold are used in beverages industry
Food and agro products industry is expected to be the second largest end user, contributing sales of US$ 125.1 Mn through 2021
The U.S. is expected to lead the North America layer pads market on the back of increasing demand from beverages industry
Expansion of manufacturing and packaging industries is expected to propel the sales of layer pads in India
South Korea is expected to account for 8% of global layer pads market
In terms of material, while plastic is expected to hold lion’s share, sales of paperboard layer pads are expected to gain pace over the coming years

“Increasing demand for protective packaging and growing preference for online shopping have compelled industries to shift their focus to sustainable and durable packaging solutions. This is expected to create ample opportunities for layer pads manufacturers to capitalize on,” says an FMI analyst.

Layer Pads Market by Category

Material Type:

Plastic
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polycarbonate (PC)
- High Density Polyethylene (HDPE)
- Polyethylene (PE)
- Other Plastic Material
Paperboard
- Chipboard
- Solid Fiberboard
- Corrugated

End User Base:

Food & Agro Products
Beverages
- Alcoholic Beverages
- Non-Alcoholic Beverages
Electronics
Chemical
Others (Manufacturing)

Shape Type:

Die Cut Shape
Flat Shape

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Competitive Landscape

As per FMI, top players are expected to account for over 15%-20% of global market share in 2021. Key players are focusing on collaboration with e-commerce and local vendors to increase their revenue generation.

Some of the key players are also introducing sustainable paperboard layer pads, to attract revenue. They are also collaborating with local and international beverages companies to expand their customer base and gain competitive edge.

As per Future Market Insights, Smurfit Kappa Group, DS Smith, International Paper, KapStone Paper and Packaging Corporation are identified as top layer pads market players.

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Texturized Vegetable Protein Market Sales Channel, Geodemographic Study and Independent Variable-2031

The rising awareness among consumers about a multitude of health benefits of plant-based sources of protein has been aiding the market for texturized vegetable protein. Future Market Insights (FMI) in a new study has forecast the market to reach US$ 1.03 Bn by the end of 2022. Growth forecasts continue to remain positive for the market, thanks to increasing number of vegetarian population worldwide.

Continuously increasing demand for food & beverage products which provide nutritional benefits with sensory taste is one of the major factor driving the demand for texturized vegetable protein. Due to increasing awareness regarding animal cruelty and environmental damages caused by excessive consumption of might the demand for texturized vegetable protein is expected to increase.

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These protein sources also contain lower amount of saturated fat and cholesterol as compared to meat products hence are considered to have more health benefits. Among products available, the demand for soy protein is expected to be the highest. As per FMI, the soy protein segment is forecast to account for over 80% of the market through 2031.

Key Takeaways from the Texturized Vegetable Protein Market Study

The North American texturized vegetable protein market leads in terms of market size and accounts for 30.1% of the global texturized vegetable protein market in 2021. The Soy Protein texturized vegetable protein market is expected to have a market share of 70.0% of the global texturized vegetable protein market in 2031. In the nature segment, Conventional holds 97.9 % of the texturized vegetable protein market.

In the end-user segment, Industry holds the maximum market share of 76.1% in 2021 of texturized vegetable protein market where Meat Analogues holds 42.8% globally in 2021. Soy protein has a major share by product type and is anticipated to grow significantly over the forecast period. North America have a large number of companies and thus, majority of companies are emphasizing on offering non-GMO products, which are processed through extrusion-based technology, with enhanced functional properties so that their product can comply with strict requirements of clean label products.

“Benefits of opting vegan proteins are now gaining popularity due to which many big companies are investing in the production and innovation of texturized vegetable protein. Several manufacturers are acquiring or merging with key companies to expand their product portfolio and increase their market share. E-commerce and online stores are easing entry barriers and distribution costs. These factors are expected to make competition fiercer within the market” said a lead analyst at FMI

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Who is Winning?

The global population is increasing at a rapid rate and it is expected that the population will be around 9.5 Bn by 2050 from 7 Bn in 2017. The situation is set to put quite a strain on the food and supply of raw material, resulting in the need for alternate protein sources. Key players operating in the market are adopting various strategies, which include expansion of production capacity and launch of various products.

A few of the leading players operating in the texturized vegetable protein market are Archer Daniels Midland Company, CHS Inc., Roquette Frères, Beneo GmbH, Danisco A/S, Vestkron A/S, Cargill Inc., FUJI OIL CO., LTD., Puris Proteins, LLC., MGP Ingredients, Inc., Crown Soya Protein Group, Sotexpro SA, Wilmar International Ltd., Gushen Biotechnology Group Co., Ltd., Ingredion Inc.

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Texturized Vegetable Protein Market Key Segments

Product Type

Soy Protein
Wheat Protein
Pea Protein
Rice Protein

Nature

Organic
Conventional

Form

Chunks
Slice
Flakes
Granules

End Users

Household
Commercial
Industry
- Food Industry
  - Bakery
  - Snacks
  - Ready Meals
  - Sports Nutrition
  - Clinical Nutrition
  - Baby Food
  - Meat Analogues
  - Others
- Animal Feed

Distribution Channel

Direct
Indirect
- Store Based
- Hypermarket
- Convenience St.
- Traditional Store
- Online Retails

Region

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

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