Market Research Blog – Page 1189 – New Product Development

Swab and Viral Transport Medium Market Set to Surge, Projected to Reach USD 15.60 Billion by 2033 at a 5.8% of CAGR

According to the latest market attractiveness analysis by Future Market Insights (FMI), the global swab and viral transport medium market is poised for significant growth. Estimated to reach approximately USD 8.86 billion by the end of 2023, the market is projected to expand at a compound annual growth rate (CAGR) of 5.8% over the next decade. By 2033, the market is expected to surpass a valuation of USD 15.60 billion.

This robust growth is driven by increased demand for reliable diagnostic tools and advancements in viral transport technologies. The expansion reflects a rising need for effective solutions in medical diagnostics and testing, positioning the market for continued success and innovation in the years to come.

This significant growth trajectory underscores the increasing demand for swab and viral transport mediums, driven by their crucial role in diagnostic testing and disease management. The rise in global health initiatives, heightened awareness of infectious diseases, and advancements in diagnostic technologies are key factors contributing to this market expansion.

The analysis highlights the evolving needs of healthcare providers and the growing emphasis on accurate and efficient testing processes. As the market evolves, stakeholders and industry players are presented with substantial opportunities for growth and innovation.

Companies in the swab and viral transport medium business are producing inventive kits with vials, double-ended flocked swabs, medications, and other items that avoid bacterial or fungal contamination. They are concentrating on a better solution formulation to stop the growth of bacterial and fungal flora. The market is expanding owing to new viral transport medium solutions.

An additional element fueling the market expansion is the rise in the number of novel viruses that have the potential to infect humans and cause a variety of illnesses. According to an article in Nature from 2021, certain respiratory viruses are resurfacing in unexpected ways as pandemic limitations loosen. Infections with the respiratory syncytial virus (RSV), which accounts for 5% of all pediatric fatalities globally, began to rise in April 2021. As a result of the increased need for specimen collection kits and diagnosis, the prevalence of additional infectious illnesses is predicted to propel market expansion.

Manufacturers are creating viral transport mediums for influenza diagnostics as the flu season gets underway. Healthcare in western nations is extremely concerned about influenza-related morbidity and death. To provide swabs and viral transport mediums, manufacturers are expanding their research and development capabilities. Manufacturers are also starting to recognize the advantages of online pharmacies over hospitals and retail pharmacies. To increase their revenue sources, they are working with established e-Commerce companies.

Owing to its highly developed medical infrastructure and high frequency of infectious illnesses, North America is predicted to dominate the global market during the forecast period. During the pandemic, North America saw a spike in laboratory testing, which fueled the market expansion. The market is also growing significantly due to the existence of biopharma businesses, a large number of labs, and research studies on viral infection.

Key Takeaways

The market in the United Kingdom is anticipated to rise, exhibiting a CAGR of 9%through 2033.
The United States is expected to develop at a1%CAGR during the forecast period.
With a CAGR of 0%over the forecast period, Canada is predicted to develop promptly in the market.
In China, the market is expected to proliferate, registering a CAGR of 7%over the forecast period.
Germany is estimated to grow decently registering a CAGR of 7% until 2033.

Competitive Landscape

Top players operating in the swab and viral transport medium market are McKesson Corporation, Cardinal Health Inc., Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Quidel Corporation, COPAN Diagnostics Inc., VIRCELL S.L., Deltalab, Titan Biotech Ltd., Medical Wire & Equipment, and others.

These market players are always inventing and creating new products to suit the various requirements of diagnostic laboratories and research institutions. They are enhancing the design and components used in swabs to enhance their collection efficacy. They are also developing transport mediums that can hold viral specimens for extended periods without compromising their vitality. Additionally, to improve the stability and accuracy of diagnostic samples, they are also combining advanced technologies.

Recent Developments

In June 2022, the start of long-distance drone deliveries in North Carolina was announced by Zipline and Cardinal Health.
In May 2020, in several pharmacies across the United States, Health Mart® pharmacies announced that they would provide free COVID-19 test collection. Health Mart is dedicated to creating cutting-edge public and private collaborations as a member of the McKesson Corporation to assist address the COVID-19 epidemic.

Other Key Players Operating in the Swab and Viral Transport Market

Thermo Fisher Scientific Inc.,
Quidel Corporation,
COPAN Diagnostics Inc.,
VIRCELL S.L., Deltalab,
Titan Biotech Ltd.,
Medical Wire & Equipment

Swab and Viral Transport Medium Market by Category

By Product:

Viral Transport Medium
- Tissue Culture Medium
- Glycerol Transport Medium
Virus Swabs
- Nasopharyngeal Swabs
- Deep Nasal Swabs
- Combined Nasal & Throat Swabs
- Culture Swabs
- Vaginal Swabs

By Application:

Influenza
Respiratory syncytial virus
Mumps Virus
Adenovirus
Rhinovirus
Herpes Simplex Virus
Varicella-Zoster Virus
Other Indication

By End User:

Hospitals & ASCs
Specialty Clinics
Diagnostic Laboratories
Others

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Eye Infections Treatment Market Set to Reach USD 9.9 Billion by 2030 at a 3.8% of CAGR

The global Eye Infections Treatment Market is experiencing notable growth, with worldwide revenue estimated at USD 7.3 billion in 2022. According to recent forecasts, the market is projected to advance at a compound annual growth rate (CAGR) of 3.8% from 2022 to 2030. This robust growth trajectory is expected to drive the market’s value to approximately USD 9.9 billion by the end of the decade.

The increasing prevalence of eye infections and advancements in treatment options are key factors contributing to this market expansion. As the demand for effective and innovative treatments continues to rise, the eye infections treatment market is poised for continued progress and significant growth over the coming years.

The projected growth reflects a rising demand for advanced treatments and therapies for eye infections, driven by increasing incidences of ocular diseases, advancements in medical technologies, and growing awareness about eye health. The market expansion is supported by ongoing research and development efforts aimed at enhancing the effectiveness and accessibility of treatments.

This upward trajectory highlights the importance of continued innovation and investment in the eye infections treatment sector, offering significant opportunities for healthcare providers, pharmaceutical companies, and investors alike.

Key Takeaways of Eye Infection Treatment Market Study

Antibiotics would contribute over 55% of revenue share in the eye infection treatment market owing to their use in treating primary eye infections and post-surgical eye infections.
Eye drop sales capture over 60% market share in the eye infection treatment market.
Conjunctivitis would account for a third of eye infection treatment demand through 2030.
Bacterial infections continue to account for over 3/5^th market share.
Hospitals and retail pharmacies collectively generate over 70% of total returns to shareholders.
The increasing rate of eye surgeries and rising usage of contact lenses continue to push the North American market. European market would be upheld by the expanding geriatric pool.

Demand for eye infection treatment will continue to receive a strong impetus from increasing awareness about different eye infection types and availability of treatment, further complemented by technological advancements on ophthalmology.

Development and Licensing Deals with Multiple Commercialization Partners

Technology developers are laying greater emphasis on developing of novel ophthalmic formulation technologies and engaging with commercialization partners with licensing-out proprietary ophthalmic technologies.

For instance, Nicox S.A. has licensed out ZERVIATE (cetirizine ophthalmic solution) 0.24% to Eyevance Pharmaceuticals LLC for commercialization of ZERVIATE in the US. ZERVIATE is the first topical ocular formulation of antihistamine cetirizine approved for treatment of ocular itching associated with allergic conjunctivitis. In addition, Ocumension Therapeutics is responsible for all development and commercialization activities in Chinese market for ZERVIATE.

Demand for Eye Infection Drugs to Slump Amidst COVID-19 Pandemic

The coronavirus (COVID-19) pandemic has resulted in widened gap between supply and demand of eye infection treatments. As such, it has significantly reduced ocular surgery rate for short-term basis and, in turn, post-operative eye infections.

According to World Health Organization (WHO), national healthcare resources redirection and utilization to contain COVID-19 pandemic is expected to delay and reschedule the treatment of non-critical healthcare conditions for brief period, including eye care services, and ocular surgeries.

Know More About FMI’s Global Eye Infections Treatment Industry Study

Eye infection treatment market, a new study from Future Market Insights, opines on eye infections treatment from 2015 – 2021 and presents demand projections from 2022 – 2030 on the basis of; drug class (antibiotics, antivirals, antifungals, antihistamines, corticosteroids, and glucocorticoids), dosage form (tablet, capsule, ophthalmic ointment, and eye drops), indication (conjunctivitis, keratitis, endophthalmitis, blepharitis, stye or sty (hordeolum), uveitis, cellulitis, and ocular herpes), causative agent (virus, bacteria, fungus, and allergens) and distribution channel (hospital pharmacies, retail pharmacies, online pharmacies, and drug stores) across seven prominent regions.

A Old Full Report Analysis Click Here

Key Segments of Global Eye Infections Treatment Industry Survey By Drug Class:

Antibiotics
- Sulfonamides
- Macrolides
- Erythromycin
- Chloramphenicol
- Aminoglycosides
- Fluoroquinolones
- Vancomycin
- Tetracyclines
Antivirals
- Thymidine-Based Nucleoside Analogues (Trifluridine)
- Thymidine Phosphorylase Inhibitors (Trifluridine)
- Acyclic Nucleoside Analogue of 2’Deoxyguanasine (Ganciclovir)
- Acyclic Guanine Nucleoside Analog (Acyclovir)
- Others
Antifungals
- Polyenes (Amphotericin B (AMB) And Natamycin (NTM))
- Azoles (Miconazole (MCZ), Econazole (ECZ) And Ketoconazole (KCZ))
- Pyrimidines
- Echinocandins (Caspofungin (CFG) and Micafungin (MFG))
- Others
Antihistamines
Corticosteroids
Glucocorticoids

By Dosage Form:

Eye Infections Treatment Tablets
Eye Infections Treatment Capsules
Eye Infections Treatment Ophthalmic Ointments
Eye Infections Treatment Eye Drops
Others

By Indication:

Eye Infections Treatment for Conjunctivitis
Eye Infections Treatment for Keratitis
Eye Infections Treatment for Endophthalmitis
Eye Infections Treatment for Blepharitis
Eye Infections Treatment for Stye or Sty (Hordeolum)
Eye Infections Treatment for Uveitis
Eye Infections Treatment for Cellulitis
Eye Infections Treatment for Ocular Herpes

By Causative Agent:

Virus
Bacteria
Fungus
Allergens

By Distribution Channels:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Drug Stores

Author

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Medical Ventilators Market Set for Robust Growth, Projected to Exceed USD 4 Billion by 2033 at a 9.1% of CAGR

According to recent market research by Future Market Insights (FMI), the global medical ventilators market is poised for significant expansion, with an anticipated market value of USD 1.7 billion in 2023.

The market is projected to grow at a compound annual growth rate (CAGR) of 9.1% from 2023 to 2033, reflecting the increasing demand for advanced respiratory support technologies. By 2033, the medical ventilators market is expected to surpass USD 4 billion, driven by advancements in medical technology and heightened awareness of respiratory health needs.

The impact of the COVID-19 pandemic has further accelerated market growth. As a result of viral infections, many patients have required ventilator support. In response, governments around the world have made significant investments in medical ventilator procurement. For instance, in April 2020, the United States government entered into a US$ 1.1 billion contract with General Health and Philips to bolster ventilator supplies. Additionally, in the same month, the United Kingdom secured 300 new ventilators from China.

The market has been witnessing technological advancements of late. The manufacturers have been enhancing the ventilators with sensors. This would ensure almost no interference from human beings. Thus, the human resource can be streamlined and directed to other important areas of the business.

The surging geriatric population across the globe is also expected to surge the sales of medical ventilators. This age group is prone to almost any kind of ailment, especially respiratory issues and cancer cases.

Thus, the FMI analysts believe that, ‘rapid urbanisation, COVID-19 pandemic, technological advancements, and a lot of other factors are expected to propel the medical ventilators market growth during the forecast period.’

Medical Ventilators Market Key Takeaways:

The market is expected to record a growth rate of 9.1%.
In 2023, the market valuation is expected to be at US$ 1.7 billion.
By 2033, the market value is expected to surpass US$ 4 billion.
As per the regional analysis, North America is expected to be the largest market.
The United States market is expected to grow at 6.8%.
The United Kingdom market is projected to advance at 5.8%.
China’s market is anticipated to surge by 14.7%.
Japan’s market is expected to advance at 9.1%.
The South Korean market is anticipated to grow at 8%.
Based on product type, critical care ventilators are expected to be the leading segment and may surge at 8.6%.
Based on application, invasive ventilators are projected to be the dominant segment and are expected to grow at 7.5%.
Based on the end user, the hospital segment is expected to be the leading segment.

Medical Ventilators Market Competitive Landscape

The key players operating in the medical ventilators market are focusing on product innovation. On that basis, they are looking to integrate their products with the latest microprocessors. There are also huge investments being made in Research and Development, to create the best quality ventilators. The manufacturers are also investing in tactical mergers and acquisitions, to expand their market share. To achieve sustainable goals, the manufacturers are also looking to cut down greenhouse emissions and make use of eco-friendly facilities. To make new strategic moves, the key players are also roping in some of the most astute minds who have been a part of this niche for decades.

Top players in the market:

Cardinal Health
Becton Dickinson and Company
GE Healthcare

Key developments in the medical ventilators Industry:

In October 2022, new research conducted by Cardinal Health highlights rheumatologist’s increasing confidence in biosimilars.
In January 2023, Michelle Quinn was named as the acting General Counsel for Becton, Dickinson, and Company.

Medical Ventilators Market Segmentation

By Product:

Critical Care Ventilators
Transport Ventilators

By Application:

Invasive Ventilators
Non-invasive Ventilators

By End User:

Hospitals
Ambulatory Surgical Centers
Long-Term Care Centers
Home Care Settings

Author

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Global Astaxanthin Market Projected to Achieve USD 665.0 Million by 2034 Driven by Growing Food and Cosmetic Industry Needs | FMI

According to Future Market Insights (FMI), global astaxanthin sales are estimated to be worth US$ 273.2 million in 2024. The market is expected to reach US$ 665.0 million by 2034. It is projected to surge at a CAGR of 9.3% in the forecast period 2024 to 2034.

Astaxanthin’s increasing demand is driven by its use in aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food & beverages industries. It is widely used as a food ingredient for prawns and fish to enhance coloration and commercial value.

Astaxanthin benefits aquatic animals by increasing stress tolerance, performance, immune-related gene expressions, reproductive capacity, survival, and disease resistance. The market is expected to rise due to the consistent demand from the food industry, where astaxanthin is used as a food additive due to its health benefits, such as anti-inflammatory effects and prevention of cardiovascular diseases. Studies have shown that astaxanthin is set to prevent photo-aging, improve sleep, minimize obesity, protect the vocal cord, combat depression, and increase sperm motility.

Natural alternatives are gaining traction due to a number of factors, including greater awareness of the harmful effects of chemicals and expanding usage of synthetic ingredients in topical & culinary items. As a result, leading companies are implementing tactics, including the introduction of new products and alliances with key manufacturers in several sectors to boost the market share of natural astaxanthin-based products.

Key Takeaways from the Astaxanthin Market Report:

The global astaxanthin market is expected to reach a valuation of US$ 665.0 million by 2034.
Japan is projected to hold a dominant value share of 3.5% by 2034.
The United States astaxanthin market is projected to reach a valuation of US$ 177.6 million by 2034.
India’s astaxanthin market is projected to reach US$ 43.0 million by 2034.
Germany is set to hold a dominant value share of 4.1% by 2034.

“The astaxanthin market is experiencing innovation as dietary lutein becomes a potential substitute in the market. Leading companies are incorporating lutein-rich sources into formulations, highlighting a trend toward diversification. They are also exploring alternative natural compounds.” – says a lead analyst at Future Market Insights (FMI).

Extensive Market Research: Complete Report and Findings

Competitive Landscape

BASF SE, Divi’s Laboratories Ltd., Cyanotech Corporation, DSM N.V., Parry Nutraceuticals, and JXTG Nippon Oil & Energy Corporation are key astaxanthin manufacturers listed in the report. Leading companies are concentrating on broadening their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market.

For instance,

In 2020, BGG declared two key extensions of its farm capacity of astaxanthin as the company has seen a surge in its astaxanthin sales lately.

Key Companies Profiled

BASF SE
Divi’s Laboratories Ltd.
Cyanotech Corporation
DSM N.V
Parry Nutraceuticals
JXTG Nippon Oil & Energy Corporation
Fuji Chemical Industries Co., Ltd.
Kunming Biogenic Co., Ltd.
Valensa International Global
Kailu Ever Brilliance Biotechnology Co. Ltd.
Algalif Iceland Ehf
Zhejiang NHU Co., Ltd.
Atacama Bio Natural Products S.A., Inc.
AstaReal Inc
Fenchem Biotek Ltd.
Igene Biotechnology, Inc.
BGG (Beijing Gingko Group)
Cardax, Inc.
Algatechnologies Ltd.
Algaecan Biotech Ltd.
Otsuka Pharmaceutical Co., Ltd.
Yunnan Alphy Biotech Co., Ltd.
INNOBIO Corporation Limited.
Sinoway Industrial Co., Ltd.
KDI Ingredients

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global astaxanthin market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.

The study incorporates compelling insights on the astaxanthin market based on species type (haematococcus pluvialis, chlorococcum, chlorella zofingiensis), production technology (chemical synthesis, natural extraction), form (tablets, soft gel capsules, powder, liquid), grade (>=98%, 95%-97%, <=94%), application (aquaculture, dietary supplements, food & beverages, personal care & cosmetics, pet food), and region.

About the Food & Beverage Division at Future Market Insights (FMI)

Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights (FMI) 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.

About Future Market Insights (FMI)

Contact FMI:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Citrus Pulp Market Set for Expansion: Expected to Reach USD 287.2 Million by 2033 with 5.9% CAGR

The citrus pulp market (Markt für Zitrusfruchtmark) refers to the global trade and consumption of citrus pulp, which is a byproduct of the citrus fruit processing industry. Citrus pulp is obtained from the remnants of oranges, lemons, grapefruits, and other citrus fruits after juice extraction. It is rich in fiber, pectin, and other nutrients, making it a valuable ingredient in various industries.

The demand for citrus pulp has been steadily increasing in recent years due to its wide range of applications. In the animal feed industry, citrus pulp is used as a feed ingredient for livestock, such as cattle, poultry, and swine. It provides essential nutrients, improves digestion, and enhances animal health. Additionally, citrus pulp helps in reducing the dependence on traditional feed ingredients like corn and soybean, making it a sustainable alternative.

The citrus pulp market is anticipated to be worth US$ 180.97 million in 2023 and US$ 287.2 million by 2033. Citrus pulp demand is anticipated to maintain a constant CAGR of 5.9%.

The demand for natural and healthy ingredients is increasing as consumers become more health conscious. Citrus pulp feed is a natural and organic ingredient that contains high levels of fiber, making it a popular choice for health-conscious consumers. In addition, it is low in fat and calories, which makes it an attractive ingredient for weight management products. As the demand for natural and healthy ingredients continues to rise, the citrus pulp market is expected to grow.

Sustainability is becoming a key concern for companies and consumers alike. Citrus pulp feed is a sustainable ingredient that can be used in a variety of applications, including animal feed, food and beverage products, and packaging. It is a by-product of the citrus juice industry, which helps to reduce waste and promote sustainability. As companies and consumers become more conscious of sustainability, the demand for citrus pulp is expected to increase.

Demand for Citrus Fiber Is Growing as Many People Try to Buy Products Free from Harmful Ingredients.

Since scientists have discovered citrus fibers’ health benefits, manufacturers have been adding them to several products to boost sales of citrus pulp. Citrus fiber is used in a wide variety of foods and beverages, including to fruit juices and yoghurts, salad dressings, condiments, sauces, baked goods, meats, and soups. Researchers have found that citrus fiber has numerous health benefits, including the prevention of cancer, improvement of heart health, digestion, stress relief, and skin tone.

Polyphenols, vitamin C, and flavonoids are just few of the bioactive compounds found in citrus fiber that contribute to its health benefits. As clean-label foods and drinks become the norm, consumers are looking to our clients for cutting-edge solutions to meet their needs. Companies that sell citrus fiber tout not only its health advantages, but also its potential to replace eggs and oil, clean label, and its contribution to sustainability by making productive use of post-processed citrus that would otherwise be thrown away.

The rising demand for naturally derived cosmetics is prompting several players in the citrus fiber market to emphasize their continued investment in ingredient innovation for broad cosmetic and personal care applications. Furthermore, the rising interest in natural remedies is driving up demand for citrus ingredients in all sorts of cosmetics. Citrus fibers, which are essential for enhancing the body’s metabolism and digestion, have been seeing a rise in popularity as consumers become more concerned about the safety of the food they eat. Citrus fiber’s inclusion in a wide variety of products across sectors reflects the growing clean label movement’s emphasis on the importance of using ingredients with few or no artificial ingredients.

Key Takeaways:

The availability and demand for citrus pulp around the year, owing to the presence of several citrus fruit juice production facilities, is aiding the long-term prospects of the industry.
Europe market holds a predominant position, accounting for over 30% of the global market share, driven by demand from consumers in the United Kingdom, Germany, and France.
The demand for orange-based citrus pulp is expected to account for a significant market share through the end of the forecast period.
The market is facing challenges related to contaminants and counterfeit products, and fluctuations in yield due to environmental factors.
The demand for citrus pulp in the bakery products segment is estimated to remain the prominent in the near future, driven by growing applications in confitures and fresh fruit pastries.
Citrus pulp feed is used in various end-use applications, including bakery, sauces and seasonings, meat and egg replacement, personal care, and pharmaceutical offerings, among others.
The growing demand for convenience foods is expected to bolster fast growth in the snacks and meals segment.

Competitive Landscape:

The citrus pulp market is highly competitive and fragmented, with several key players vying for market share. Some of the leading companies in the market include:

Fiberstar, Inc.
Cargill, Inc.
Commodity Specialists Company
Agrifiber Products, Inc.
DuPont de Nemours, Inc.
Ingredion, Inc.
Tereos Group
CP Kelco U.S., Inc.
Florida Food Products, LLC
Ceamsa

The market is characterized by intense rivalry among players, with strategies such as product innovation, mergers and acquisitions, and strategic partnerships being employed to gain a competitive edge. Moreover, market players are focusing to expand their production capacities to cater to the growing demand for citrus pulp from various end-use industries.

The market is also witnessing the entry of new players, which is further intensifying the competition. This is expected to drive innovation and result in the development of new and advanced products in the market. Overall, the competitive landscape of the citrus pulp market is expected to remain highly dynamic and competitive in the coming years.

In-Depth Market Analysis: A Complete Report

Key Segments

Nature:

Organic
Conventional

Source:

Oranges
Tangerines/Mandarins
Grapefruit
Lemon and Lime

End Use:

Bakery
Desserts and Ice-Creams
Sauces and Seasonings
Meat and Egg Replacement
Beverages, Flavorings, and Coatings
Snacks and Meals
Personal Care
Pharmaceuticals
Others

Distribution Channel:

Supermarkets/Hypermarkets
Convenience Stores
Departmental Stores
Specialty Stores
Pharmacy/Drug Stores
Others

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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Food Irradiation Market Set for 6% CAGR Growth by 2033, Says Future Market Insights

The food irradiation market (Markt für Lebensmittelbestrahlung) is predicted to be worth US$ 312 million in 2023 and rise to US$ 540.9 million by 2033. Initially, the global market was expanding at a CAGR of 3.3% from 2018 to 2022.

Sustainability is gaining importance in the food industry, and irradiation can help reduce food waste by extending the shelf life of food products. This can mitigate the damaging environmental effects of food production and distribution.

The effectiveness and safety of food irradiation are being guaranteed by regulatory systems from all over the world. As regulatory approvals spread and become more standardized, food irradiation becomes more and more widespread.

Moreover, food preservatives can extend the shelf life of foods. As a result, the market for food preservation goods is advantageous to the worldwide business. Antioxidants and antibacterial substances, two types of food preservatives, have been shown to have potential health benefits.

Opportunities for Expanding Market Profitability

To increase food safety and decrease food waste, emerging regions have aggressively promoted and developed food irradiation technology. Food irradiation is projected to continue to play a significant role in the food business due to the rising demand for safe and high-quality food items.

Key Takeaways

In 2022, the United States accounted for 5.6% share of the food irradiation market.
The food irradiation market was significantly expanding, with a size of US$ 300 million in 2022.
The market offers incredible prospects as a result of consumers’ growing health consciousness, and analysts predict a 1.04x growth rate between 2022 and 2023.
The market in China is anticipated to expand at an adequate CAGR of 3.5% by 2033.
In 2022, Germany accounted for 3.4% share of the food irradiation market.
In 2022, Australia accounted for 0.3% share of the food irradiation market.
By 2033, it is expected that the United Kingdom market expansion is likely to expand at a respectable CAGR of 5.3%.
Based on the source, Gamma radiation is likely to lead the market and continue to lead the market.
Based on technology, ozone treatment continues to dominate the sector during the forecast period.

Critical Approaches Increasing Top Players’ Wealth

To increase the efficacy and efficiency of their irradiation technology, businesses in the food irradiation industry are continually making research and development investments. Technology advancements can give a competitive edge to businesses that can provide quicker, more dependable, and less expensive solutions.
Companies operating in the market must adhere to laws and norms pertaining to food irradiation. By offering dependable, safe, and compliant irradiation services that satisfy industry standards, businesses that can guarantee compliance with regulatory regulations can gain a competitive advantage.

Recent Developments

Scantech Sciences: Scantech Sciences is an American business that offers irradiation solutions for extending the shelf life and ensuring the safety of food. The business announced the release of its new Cesium-137 irradiator in 2021, which is intended to offer a more affordable and effective option for food irradiation.
Providing irradiation solutions for food safety and sterilization is an Indian company called Lanexis Enterprises Pvt. Ltd. To fulfill the rising demand for irradiation services in India, the business declared the installation of a new Cobalt-60 irradiator at its site in Gujarat in 2020.

Comprehensive Market Insights: Full Report Overview

Key segments

By Source:

Gamma Radiation
X-ray Radiation
Electron Beam Radiation

By Technology:

Ultra-high Pressure
Steam Pasteurization
Food Coating
Ozone Treatment
Others

By Region:

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

About Future Market Insights (FMI)

Contact Us:

Global Food Authenticity Testing Services Market Set to Reach USD 10.11 Billion by 2033, Growing at a 6% CAGR

In 2023, the US$ 5893 million for the food authenticity testing service market (Markt für Dienstleistungen zur Prüfung der Lebensmittelauthentizität) is estimated to reach a revised size of US$ 10112.8 million by 2033. This market is expected to expand at a CAGR of 6% during the analysis period.

Consumers have become increasingly skeptical about the authenticity of food products designed to meet specific needs, such as vegan, free-form, and organic. This is due to intentional ingredient substitution, misleading consumers with false claims, and disruptive labeling.

To differentiate their products from conventional offerings, food manufacturers have adopted food authentication techniques to capture significant market share. Consumers are increasingly concerned about food safety and clean labels, so adoption may be on the rise.

The increasing incidence of fraud, false labeling, certification, and adulteration in food products is one factor driving the market growth. Additionally, consumers are becoming more knowledgeable about food quality, increasing market growth.

“The epidemic of economically motivated infestation (EMA) to overcome competition has forced governments to impose strict regulations on food inspection and authenticity regulations, pushing markets toward a multi-billion-dollar valuation.” – says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

The food authenticity testing service market is expected to grow at a CAGR of 6% over the forecast period.
It is estimated that the food authenticity testing service market in North America will remain strong during the forecast period.
Due to its large population, Asia Pacific is expected to be the fastest-growing region for food authenticity testing services
Testing meat speciation authenticity is bolstered by a high incidence of meat consumption
The food authenticity testing services market in China is expected to witness significant growth at a CAGR of around 4.4%.

Competitive Landscape:

The global food authenticity testing service market is dominated by a small number of players aiming to concentrate their presence in emerging markets. They launch products, introduce innovations, acquire strategic companies, and establish laboratories and research facilities in areas that are not developed. By offering innovative products, market players can maintain supply and demand, thus assisting the growth of the overall market.

Several prominent companies dominate this market, including ALS Ltd, EMSL Analytical, Inc., Genetic ID NA Inc., Eurofins Scientific SE, Merieux NutriSciences Corporation, Intertek Group PLC, Microbac Laboratories Inc., SGS SA, Romer Labs, others.

Recent Developments:

In collaboration with Eurofins GeneScan Technologies GmbH in October 2019, UgenTec’s real-time PCR analysis software platform, FastFinder, may be used to develop assay plugins for Eurofins GeneScan Technologies’ portfolio of molecular biology kits. Furthermore, the partnership can help Eurofins scale up its assays with automated results reports and fast sample-to-result times for food, feed, and seed testing.
With the acquisition of Vanguard Sciences Inc. in January 2018, SGS expanded its global network of agriculture and food laboratories by integrating the company’s two food laboratories. Agricultural and food testing is provided by two laboratories, including product testing and research (including testing of processes and products).
SGS announces the opening of its new food testing laboratory in Papua New Guinea. In addition to food safety, quality, and sustainability, SGS offers a comprehensive range of services.

Detailed Market Study: Full Report and Analysis

Food Authenticity Testing Services Market Segmentation by Category

By Food Tested:

Meat & Meat Products
Dairy & Dairy Products
Processed Foods
Other Food Tested

By Target Testing:

Meat Speciation
Country of Origin & Ageing
Adulteration
False Labelling

By Technology:

PCR-Based
Liquid Chromatography-Mass Spectrometry (LC-MS)
Isotope
Immunoassay Based/ELISA
Other Technologies

By Region:

North America
Latin America
Europe
The Middle East and Africa
East Asia

About Future Market Insights (FMI)

Contact FMI:

Chickpea Protein Industry Anticipates Rapid Growth, Aiming for USD 165.1 Million by 2033

The global chickpea protein market (Markt für Kichererbsenprotein) is predicted to register a CAGR of 5.1% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 100.9 million in 2023 to US$ 165.1 million by 2033 end.

Chickpea protein consumption is anticipated to increase due to increasing demand from the food industry. The extensive use of chickpea protein in the food and pastry kitchen industry is expected to positively influence over the next 10 years. An increasing shift in food consumption patterns favoring meat electives and prepared food items is predicted to stimulate market growth.

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

Development of alternative meat formulations for categories like snacks, dressings, etc., is forecast to catalyze market development in the coming years. The affordability, versatility, and nutrient-rich properties of chickpeas are expected to help the market incline forward. The usage of chickpea protein for weight management, safety from chronic diseases, and stimulating other aspects of health is projected to push the market growth in the years to come.

Top Highlights from the FMI’s Analysis of the Chickpea Protein Market:

North America is assessed to lead the global market over the next 10 years. The United States chickpea protein industry is projected to attain US$ 53.6 million by 2033. The CAGR assumed for the United States market is anticipated to be 7% over the forecast period.
In the Europe region, Germany is projected to hold a significant market percentage. The German market is anticipated to attain US$ 13.21 million by 2033. Over the forecast period, the market is expected to expand at 4% CAGR.
The United Kingdom market is predicted to attain US$ 8.3 million by the end of 2033. Over the upcoming years, the market is anticipated to register a 6% CAGR.
In the European region, the Spain market is expected to exhibit significant growth, expanding at a CAGR of 2% over the forecast period. The market is set to achieve a market valuation of US$ 7.1 million by 2033.
Within the Asia Pacific region, China’s contribution is anticipated to stand out. By the end of 2033, the China market is expected to attain US$ 17.8 million. The market is projected to perceive a growth rate of 4% over the forthcoming years.
The protein isolates segment, based on product type, is expected to register a 4% CAGR, up from the 3.6% CAGR observed in the historical period.
The conventional chickpea protein vertical, based on nature, is projected to expand at a CAGR of 5% from 2023 to 2033, lifting from the 3% CAGR witnessed in recent years.

Key Developments Stirring Up the Marketplace

In March 2023, new, innovative food products developed using InnovoPro’s chickpea protein are planned to be showcased in snacks, dressings, dairy, and meat alternatives categories. These newly developed products are expected to be showcased at Natural Products Expo West 2023.
In September 2022, Ingredion Inc. announced its equity stake in InnovoPro, a chickpea ingredient developer.

Exhaustive Market Report: A Complete Study

Chickpea Protein Market Segmentation

By Product Type:

Protein Isolates
Protein Concentrates
Flour
Other Product Types

By Nature:

Organic
Conventional

By End User:

Food Processing
- Bakery & Confectionery
- Meat Alternatives
- Functional Foods
- Dairy Replacements
- Infant Foods
- Other Food Applications
Animal Feed
- Livestock
  - Cattle
  - Swine
  - Poultry
- Pet Food
- Aquafeed
Nutraceuticals
Sports Nutrition
Infant Nutrition

By Processing Type:

Dry Processing
Wet Processing

About Future Market Insights (FMI)

Contact FMI:

Casein Market Expected to Climb to USD 4.9 Billion by 2033, According to Future Market Insights Inc.

The casein market has witnessed significant growth in recent years, driven by the increasing demand for dairy products, especially in the food and beverage industry. Casein, a protein found in milk, has found versatile applications in various sectors, including food and beverage, pharmaceuticals, cosmetics, and industrial applications.

In 2023, the global casein market was worth US$ 2.7 billion. The market is predicted to increase at a CAGR of 6.3% from 2023 to 2033, reaching a value of US$ 4.9 billion by 2033.

Increasing industrial adoption of casein is driving casein market expansion over the forecast period. The growing relevance of protein in the diet is expected to boost casein market growth.

The growing global demand for protein-enriched foods is expected to drive casein market growth. This is due to increased awareness of the benefits of protein, such as weight loss and muscle gain.

Caseins are also becoming more popular in general nutrition due to their great ability to release amino acids gradually. Rising global cheese demand is expected to accelerate the expansion of the casein markets.

Price Hikes for Raw Materials May Hamper Market Growth

Consumer preferences for plant-based protein over dairy-based protein are likely to limit the market growth of caseins. Another key restraining factor for the casein market is the variable supply of the product around the world, which is expected to further impede market expansion for casein.

Increasing manufacturing costs and raw material prices for the production of casein are expected to impede market expansion for casein during the forecast period.

Asia Pacific is Projected to Offer the Largest Casein Market Opportunity

The casein market is being driven by rising disposable incomes and increased consumer health consciousness. The market may benefit from the expansion of big firms in important emerging economies. In the Asia Pacific region, India and China give significant growth potential for the industry’s leading producers.

The two countries’ rising populations are assisting industry expansion in the Asia Pacific area, particularly in the pharmaceutical and food & beverage sectors. The Asia Pacific region’s robust expansion is projected to have a beneficial impact on the global casein market.

The increasing number of R&D activities conducted by corporations and expanding developments in the industry are projected to move the industry forward.

Key Takeaways

Through 2033, the flavouring agent market is expected to grow at a function-type CAGR of 6.2%.
In terms of end use over the forecast period, the market segment for food processing has the highest CAGR of 6.1%.
By 2033, the United States market for casein may have climbed by 5.2% CAGR, reaching US$ 1.5 Bn.
The United Kingdom market may have expanded at 5.5% CAGR by 2033, reaching US$ 228.5 Mn.
China market might have developed at a 7.3% CAGR by 2033, expected to reach US$ 421.2 billion.
Japanese market for casein is predicted to grow at a 5.7% CAGR by 2033, reaching US$ 355.8 billion.
South Korean market for casein is expected to expand at a 6.7% CAGR by 2033, reaching US$ 198.5 billion.

Competitive Landscape

Acquisitions and partnerships and collaborations were among the inorganic growth tactics observed in the market. With the increasing demand for casein in global market, market players are expected to benefit from attractive growth prospects in the future.

Nestlé, Danone, Arla Foods, Groupe Lactalis, Friesland Campina, Fonterra, and Westland Milk Products are among the market’s significant participants.

Recent Developments

Fonterra

The firm opened its new dairy ingredient plant in Heerenveen, the Netherlands, in February 2015. This new facility will manufacture whey and lactose specialty ingredients for use in paediatric, maternity, and sports nutrition products.

Saputo

In May 2015, the company bought Lion-Dairy & Drinks Pty Ltd.’s daily cheese business in Australia. Warrnambool Cheese and Butter Factory Company Holdings Limited, the company’s Australian affiliate, made the purchase (WCB). This acquisition will assist WCB in expanding its foothold in the Australian cheese products market.

Extensive Market Research: Complete Report and Findings

Given Below are the Casein Market Segments

By Derivatives Type:

Sodium Caseinate
Calcium Caseinate
Potassium Caseinate

By End-Use:

Food
Yogurt
Cheese Processing
Ready-to-eat Meals
Dairy Products
Coffee Whiteners
Confectionary
Sauce & Seasoning
Meat Processing (Sausage)
Meat Products
Beverage
Pharmaceuticals
Infant Nutrition
Clinical Nutrition
Sports Nutrition
Personal Care
Skin Care
Hair Care
Cosmetics
Agriculture/Animal Feed/Poultry
Other Industries

By Function Types:

Texturizing Agent
Flavoring Agent
Coating Agent
Binding Agent
Emulsifying Agent
Heat Stabilizing Agent

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Global Superfood Powders Market Projected to Hit USD 13.66 Billion by 2033, Future Market Insights Inc. Reveals

The superfood powders market (Markt für Superfood-Pulver) is forecasted to garner revenue of US$ 13.66 billion in 2033, up from US$ 6.84 billion in 2023, advancing at a rate of 7% from 2023 to 2033.

The superfood powders market is experiencing a surge in popularity as health-conscious consumers embrace the plant-based revolution and prioritize their well-being. With a growing emphasis on nourishing wellness, superfood powders have emerged as a sought-after dietary supplement. These powders, packed with nutrient-rich ingredients, offer a convenient way to incorporate essential vitamins, minerals, and antioxidants into daily routines.

Global demand for superfood powders is on the rise as consumers become increasingly aware of the importance of maintaining a healthy lifestyle. This market is expanding in both developed and developing regions, driven by a growing trend towards health-conscious food and beverage consumption. Millennials are the most significant consumer base fueling this growth.

Superfood blends cater to diverse health needs, from vibrant green matcha powder to antioxidant-rich acai powder and protein-packed spirulina powder. As individuals strive to optimize their nutrition and support overall wellness, the superfood powders industry is expanding, offering a variety of options for those embracing a holistic health journey.

The global superfood powders market is experiencing significant growth, fueled by rising awareness of the importance of a healthy lifestyle. The emphasis on preventive healthcare is leading consumers to seek out functional and nutritious food options, further driving market expansion.

The Rise of Superfood Powders

Superfood powders have gained popularity due to their convenient and accessible nature, meeting the evolving needs of consumers. Moreover, the growing adoption of plant-based diets, driven by concerns over environmental sustainability and animal welfare, has fueled the demand for superfood powders as a crucial component of plant-powered nutrition.

Challenges and Opportunities in the Superfood Powders Market

While the market for superfood powders continues to grow, there are challenges that industry players must address. Considering the abundance of products in the market, educating consumers about the authenticity and quality of superfood powders is a major challenge. Transparency regarding sourcing, production methods, and ingredient purity is essential. Additionally, the cost of superfood powders may pose a barrier for some consumers on a tight budget.

Despite these challenges, there are ample opportunities for innovation and expansion in the market. Consumers’ growing culinary curiosity opens doors for the development of new and unique superfood powder blends. Collaboration between superfood powder manufacturers and food industry players can lead to incorporating these powders into various food and beverage products. Furthermore, leveraging digital marketing strategies and social media platforms can enable companies to reach a broad audience and build brand awareness.

Key Takeaways:

By 2033, the United States of America is likely to hold a value share of 7.7% in the superfood powders industry.
The market in Germany is anticipated to account for 3.4% value share by 2033.
During the forecast period, the organic sub-segment is to remain prominent based on nature.
The market value for superfood powders reached US$ 6.58 billion in 2022, with a CAGR of 2.7% from 2018 to 2022.
Based on sales channel, the convenience store sub-segment is predicted to account for a significant share.

How Intense is the Competition in the Superfood Powders Industry?

The superfood powders industry is characterized by intense competition as companies strive to capture the attention of health-conscious consumers seeking functional and nutrient-dense products. With the market witnessing significant growth, numerous players are entering the arena, offering a wide range of superfood powder blends and formulations.

Key competitors are constantly innovating, introducing new flavors, incorporating unique ingredients, and focusing on quality and transparency to differentiate them. Aggressive marketing strategies, collaborations with influencers, and expanding distribution networks also fuel the industry’s competitive landscape. Amidst this fierce competition, companies that can effectively communicate their product’s benefits, establish trust, and deliver exceptional quality are well-positioned to succeed in this thriving market.

Key Players Profiled in the Market

Aduna Ltd.
Barlean Organic Oils Ltd.
Creative Nature Ltd.
Nature’s Superfoods
Sports Supplements Ltd.

Full Market Assessment: Comprehensive Report

Key Segmentation

By Nature:

Organic
Conventional

By Sales Channel:

Modern Trade
Convenience Store
Specialty Store
Pharmacy Store
Online Retail
Other Sales Channels

By Region:

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

About Future Market Insights (FMI)