Food Aroma Market Forecast to Reach USD 1,595.72 Million by 2033, Growing at a 6.6% CAGR | FMI Analysis

Food Aroma Market
Food Aroma Market

The global food aroma market is predicted to register a CAGR of 6.6% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 842.14 million in 2023 to US$ 1,595.72 million by 2033 end.

The food aroma market is projected to experience solid growth on account of surging investments made in research and development. Ceaseless innovations, accelerated by the soaring demand for diversity in foods and beverages, are expected to influence the market positively.

The emergent trend in the market can be defined as the growing demand for sustainable and natural food aroma. Additionally, escalating demand for novel food items and gastronomic experiences is also fueling the growth of the food aroma industry.

Strong demand for convenience foods, which has engulfed developing countries as well, has sprung forth the consequent demand for food aroma. The fast-paced lifestyle of people residing in urban areas and changing consumer preferences are underpinning the demand for ready-to-eat meals.

Since food aroma products help enhance the aroma and flavor of food, they are gaining immense popularity. Additionally, the availability of innumerable food processing units across the globe is expected to be favorable for the market in the coming years.

Going forward, established companies and new entrants alike are moving toward sustainable natural aromas to cater to the increasing demand from the food industry. For instance, EvodiaBio, a startup, developed its proprietary aroma profile for non-alcoholic beers. The end product tastes as good as its boozy counterpart.

Top Highlights from the FMI’s Analysis of the Food Aroma Market: 

  • Beverages segment is expected to garner a large market share, with respect to revenue generation. The growing popularity of distinct aromas in the F&B industry is pushing the demand for food aromas in the beverages sector.
  • In 2022, the synthetic segment generated a revenue of more than US$ 530 million. The prime factor propelling the growth of this segment includes its less processing time of synthetic aroma substances.
  • On the basis of product, terpene grabbed a market value of US$ 390 million in 2022. The growing demand for terpene can be ascribed to its flexibility and abounding health benefits.
  • Europe region is estimated to register a CAGR of 6% during 2023–2022 for the market in focus. The booming dairy industry is predicted to create many growth opportunities for the food aroma industry.

Market Update: Food Aroma Industry Sees Significant Acquisitions and Collaborations

  • Taiyo International collaborated with ITO EN, which is a distributor of flavorful, authentic, and abundantly nutritious tea, in August 2021. Both companies came together to distribute high-grade matches to multiple industries, including beverage, food, and supplement in North America region.
  • Symrise procured Giraffe Foods Inc., a foremost producer of custom taste solutions for several food industries, in July 2021. With this acquisition, the former company is expanding its flavor and nutrition category in North America.
  • Kerry Group commenced operations at its production unit in India in June 2019. This facility is an investment meant for extending its taste and nutrition profiles.

Food Aroma Market by Category

By Type, the Food Aroma Industry is Segmented as:

  • Natural
  • Synthetic

By Product, the Food Aroma Industry is Categorized as:

  • Benzenoids as Food Aroma
  • Benzyl Acetate
  • Benzoic Acid
  • Vanillin
  • Cinnamyl
  • Benzaldehyde
  • Others
  • Terpene as Food Aroma
  • Limonene
  • Pinene
  • Myrcene
  • Linalool
  • Terpineol
  • Others
  • Musk Chemicals as Food Aroma
  • Muscone
  • Musk Ambrette
  • Musk Ketone
  • Others

By Application, the Food Aroma Market is Segregated as:

  • Beverages
  • Bakery
  • Dairy
  • Confectionery
  • Snacks
  • Other Applications
  • By Region, the Industry of Food Aroma is Segmented as:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

About Future Market Insights (FMI)

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

 Contact Us:
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Vegan Cheese Sauce Market on Track to Reach USD 192.3 Million by 2033 as Plant-Based Diets Gain Popularity

Vegan Cheese Sauce Market
Vegan Cheese Sauce Market

By 2033, the worldwide demand for vegan cheese sauce is projected to have grown from its 2023 valuation of US$ 100.9 Mn to US$ 192.3 Mn.

The increasing number of vegans in the population, especially among the youth, has contributed to the growth of the vegan cheese saucemarket. Now that people know how the dairy business treats animals and the environment, they’re less likely to support it and more likely to opt for plant-based alternatives.

As a result, experts predict that the vegan cheese sauce market is expected to expand at a CAGR of 7.4%, with the United Kingdom, the United States, Germany, and Japan rising to prominence as major suppliers.

Rising numbers of flexitarians and vegans, as well as increased public outcry over the ethical treatment of animals, are expected to fuel demand for vegan cheese sauce over the next few years. Including vegan cheese in one’s diet is beneficial to health. Furthermore, plant-based diets are trending in popularity among lactose intolerant and dairy allergy individuals. Like dairy, plant foods are a good source of protein, vitamins, and carbs.

The hospitality and restaurant sectors have been major drivers of the vegan cheese sauce market, with more and more hotels, restaurants, and fast-food chains identifying their products as vegan cheese sauce and offering appetisers using vegan cheese sauce. Moreover, the expansion of the urban and millennial populations, both of which represent a large and growing market for the product, is a significant element in its development. The younger generation is health-conscious and learning about the advantages of dairy-free alternatives like cheese.

Key Takeaways

  • The soymilk segment is expected to have a share of 28.2%.
  • Shifting consumer dietary tastes and shifting food and beverage sector trends are boosting global demand for vegan cheese sauce.
  • Japan vegan cheese sauce market is expected to grow at a rate of 5.6%.
  • During the anticipated period, the supermarket segment holds the largest share of the global market. This is mostly because supermarkets provide superior self-service and excellent shopping convenience.

Competitive Analysis

To extend their foothold in the vegan cheese sauceindustry, boost profits, and keep up with the competition, key players have turned to a variety of innovative approaches. Bute Island Foods Ltd., GreenSpace Brands, violifefoods.com, Vtopian Artisan Cheeses., Chicago Vegan Foods, Gardener Cheese Company, Tofutti Brands Inc., Kite Hill, DAIYA FOODS INC., and Nush Foods are only few of the major players in the market.

Key Segments

By Source:

  • Almond Milk
  • Soy Milk
  • Coconut Milk
  • Cashew Milk
  • Others

By End-Use:

  • Food Processing
  • Baked Goods
  • Sauces, Dips and Dressings
  • Snacks
  • Processed and Packed Foods
  • Ready Meals
  • Dairy and Desserts
  • Food Service/HoReCa (Hotels, Restaurant, Cafes)
  • Household/Retail

By Nature:

  • Conventional
  • Organic

By Sales Channel:

  • Direct Sales
  • Indirect Sales
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Speciality Retail Stores
    • Traditional Grocery Stores
    • Online Retailers

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.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Animal Feed Antioxidants Market Set for Strong Growth: Expected to Hit USD 1.05 Billion by 2033 with a 12.56% CAGR | FMI

Animal Feed Antioxidants Market
Animal Feed Antioxidants Market

The animal feed antioxidants market is valued at USD 323.61 million in 2023, is projected to grow significantly, reaching USD 1.05 billion by 2033, driven by a robust CAGR of 12.56%.

The animal feed antioxidants market is anticipated to experience rapid expansion due to the rising need for antioxidants in the animal feed sector as well as the growing desire for sustainable and affordable nutrition to meet the same needs.

Key Growth Drivers:

  • Enhanced Feed Production: Improved feed production methods and rising demand for animal feed antioxidants are major growth factors.
  • Health and Safety Concerns: Increased concern over animal health and feed safety is boosting the market, as antioxidants help extend feed shelf life while preserving nutritional quality.
  • Meat Consumption Trends: Growing consumer preference for protein-rich foods is driving up meat and dairy consumption, consequently increasing the demand for animal feed antioxidants.

Product and Form Insights:

  • Synthetic Antioxidants: Leading the market with over 51% share, preferred for their stability and cost-effectiveness.
  • Natural Antioxidants: Gaining traction due to regulatory trends and growing concerns over synthetic chemicals.
  • Dry Form Antioxidants: Preferred for ease of handling, storage, and incorporation into feed, representing a steady revenue share.

What Is Fueling the Antioxidant Animal Feed Demand?

Antioxidants shield cells from oxidative damage, lower singlet oxygen levels in animals, and prevent lipid peroxidation and oxidative rancidity in animal feed during manufacturing, processing, and storage. The adoption of animal feed antioxidants, particularly those containing antioxidants, vitamins, and minerals, has changed as more attention has been paid to enhancing animal digestive systems.

Animal feed’s freshness, flavour, and color are all preserved by antioxidants. The expanding beef industry around the world is mostly responsible for the increase in sales of animal feed antioxidants. The animal feed antioxidants market is anticipated to rise as a result of rising knowledge about animal health and feed quality and increased demand for animal feed antioxidants products.

Animal Feed Antioxidant Demand in the Asia-Pacific Region

Asia Pacific is considered to be the largest developing market for animal feed antioxidants and additives. Consumption of meat is rising, and commercial farming is expanding in the area, these are the major factors driving the market for animal feed antioxidants.

Animal feed producers are particularly concerned with boosting production capacity to meet the growing demand for animal feed antioxidants and supplements as commercial farming becomes more prevalent. The animal feed antioxidants market expansion in the Asia Pacific is anticipated to be fueled by expanding commercial farming and manufacturers’ expanding production capabilities.

The desire of the manufacturers to grow their market share in the animal feed sector will be what drives the demand for animal feed antioxidants in the Asia Pacific animal feed antioxidants market.

Key Takeaways

  • With a 43% revenue share in 2023, the Asia Pacific region has dominated the animal feed antioxidants market.
  • In terms of product, the synthetic segment of the market for animal feed antioxidants is expected to have a revenue share of about 61% in 2023.
  • Over the projection period of 2023-2033, the market for natural animal feed antioxidants is expected to expand at a CAGR of 7.9%.
  • In terms of livestock, the poultry segment of the animal feed antioxidants market had the highest revenue share in 2023, at over 42%.
  • Between 2023 and 2033, the dairy animal feed antioxidants market for poultry and cattle is anticipated to expand at a CAGR of 8.1%.

Competitive Landscape

In order to expand their market presence and product offerings on the global market, major producers like Cargill and others are concentrating on enlarging their production facilities as well as forming strategic alliances/partnerships with local producers of animal feed antioxidants.

In order to raise production and improve the quality of their products, manufacturers like Archer Daniels Midland Company and BASF are introducing cutting-edge methods and techniques. The animal feed antioxidants market businesses are investing in R&D to create technologies for producing and processing animal feed that are competitive and flexible.

Recent Development

  • In November 2021, the Danish biotechnology firm “Novozymes” may purchase the Indian pharmaceutical firm “Synergia Life Sciences.” Synergia is renowned for manufacturing natural Vitamin K2-7 and probiotics. The deal is sealed by a $150 Mn payment from Novozymes. The acquisition might be advantageous for Novozymes’ functional food division.

Key Segments

By Product:

  • Natural
  • Synthetic

By Livestock:

  • Swine
  • Cattle
  • Poultry
  • Aquaculture

By Form:

  • Dry
  • Liquid

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

About Future Market Insights (FMI)

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

 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
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Shisha Tobacco Market Set to Grow to USD 4.56 Billion by 2034, with a CAGR of 4.1%

The shisha tobacco market, valued at approximately USD 3,049.1 million in 2024, is projected to reach around USD 4,557.0 million by 2034, growing at a compound annual growth rate (CAGR) of 4.1% during this period. This growth is driven by the rising popularity of shisha bars and lounges and the increasing consumer preference for flavored tobacco products. Shisha tobacco offers a wide array of flavors, from fruity and herbal to dessert-inspired options, which appeal to a diverse audience and enhance its market appeal.

Over the past decade, the shisha tobacco industry has experienced significant expansion, supported by evolving consumer tastes and the growing social acceptance of shisha smoking. The market’s development is further fueled by innovations in product offerings and the establishment of more shisha venues. As consumers continue to seek new and varied experiences, the market for shisha tobacco is expected to sustain its upward trajectory, reflecting broader trends in lifestyle and leisure activities.

Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Shisha Tobacco Market’. It has its team of analysts and consultants to look through the bottom-up approach in its primary, secondary, and tertiary modes of research.

Key Drivers of the Shisha Tobacco Market

  • Rising Popularity of Shisha Bars and Lounges: The growing trend of shisha bars and lounges is significantly boosting demand for various flavored tobacco products. These establishments create a social and immersive experience that attracts consumers seeking novel leisure activities.
  • Diverse Flavors and Innovations: The availability of a wide range of flavors, including herbal, floral, and dessert options, enhances the appeal of shisha tobacco. Ongoing innovations in flavor formulations and blending keep the product fresh and attractive to consumers.
  • Perceived Health Benefits: Some consumers view shisha as a less harmful alternative to traditional cigarette smoking, believing that water filtration reduces nicotine content. This perception contributes to the rising popularity of shisha among those looking to reduce cigarette consumption.
  • Aesthetic Appeal and Experience: The visually appealing design of hookah apparatus and the overall aesthetic experience play a significant role in attracting consumers. The elaborate and stylish nature of shisha setups adds to their appeal as a luxury or lifestyle product.
  • Social and Cultural Influences: Shisha smoking has deep cultural roots and is often associated with social gatherings and traditions. This cultural significance drives continued interest and acceptance across various regions, especially in Asia, Africa, and the Middle East.
  • Market Expansion and Accessibility: The proliferation of shisha bars and lounges globally, along with increased distribution channels for flavored tobacco products, enhances market accessibility. This expansion supports market growth and provides consumers with more options.

Key Takeaways from Shisha Tobacco market

  • Market Expansion: The shisha bar and lounge industry is experiencing rapid growth, driving a higher demand for diverse flavored tobacco products. This expansion reflects the increasing popularity and acceptance of shisha smoking across different regions.
  • Diverse Flavors: The market offers a wide range of flavors, including herbal, floral, and dessert options. This variety enhances the appeal of shisha tobacco, attracting a broader audience and catering to various consumer preferences.
  • Historical Significance: Shisha, or hookah, has a deep-rooted history in regions such as Asia, Africa, and the Middle East. This historical context contributes to its continued popularity and cultural significance.
  • Aesthetic Appeal: The visually appealing design of hookah apparatus plays a crucial role in its market growth. The attractive and often elaborate design of shisha equipment adds to its appeal and consumer interest.
  • Perceived Safety: Some consumers view shisha as a less harmful alternative to cigarette smoking due to the belief that water filters out nicotine. This perception has contributed to the market’s growth, although it may change with increasing awareness of health risks.

Competitive Landscape

The competitive landscape of the shisha tobacco market is characterized by a diverse range of players offering various flavored products. Major brands include Al Fakher, Nakhla, Starbuzz, and Fumari, known for their extensive flavor portfolios and premium quality. These companies compete on flavor variety, product quality, and branding to capture market share. Additionally, the market features numerous regional and local players who cater to specific tastes and preferences. Innovations in flavor profiles and packaging, along with strategic partnerships and marketing efforts, are key factors driving competition and growth within the shisha tobacco industry.

Key Players Are:

  • FUMARI
  • Haze Tobacco
  • Al Fakher Tobacco Factory
  • SOCIALSMOKE
  • Japan Tobacco Inc.
  • SOEX
  • Prince Molasses
  • Romman Shisha
  • Mazaya
  • Ugly Hookah
  • Cloud Tobacco
  • Flavors of Americas S.A.
  • Al Amir Tobacco
  • STARBUZZTOBACCO.
  • Nakhla
  • MujeebSons
  • Godfrey Phillips India Ltd.
  • The Eastern Company
  • ALWAHA-TOBACCO
  • Others (As per Request)

What does the Report Cover?

  • The research study is based on product type (strong shisha tobacco, mild shisha tobacco, and light shisha tobacco), by flavor (fruit, chocolate, caramel, mint, blended, and likewise), and by sales channel (direct sales, supermarkets/hypermarkets, specialty stores, convenience stores, online retailers, and other sales channels).
  • With shisha lounges and bars getting popular, the global shisha tobacco market is expected to witness grandeur in the forecast period.

Global Shisha Tobacco Market by Category

By Product Type:

  • Strong Shisha Tobacco
  • Mild Shisha Tobacco
  • Light Shisha Tobacco

By Flavor:

  • Fruit
  • Berry
  • Apple
  • Melon
  • Citrus
  • Tropical
  • Others
  • Chocolate
  • Caramel
  • Mint
  • Blended
  • Others

By Sales Channel:

  • Direct Sales
  • Hypermarket/Supermarkets
  • Specialty Stores
  • Convenience Stores
  • Independent Small Stores
  • Online Retailers
  • Other Sales Channel

By Region:

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

 About Future Market Insights (FMI)

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

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
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Ginseng Extracts Market Set for Steady Growth: Projected to Reach USD 18,146.7 Million by 2034

The global ginseng extracts market is set to witness growth at a CAGR of 4.4% and top a valuation of USD 18,146.7 Million by 2034. Ginseng being a herbal supplement, is used to make functional foods with the extract of its root containing active elements called ginsenosides. The product thus naturally has anti-inflammatory and antioxidants qualities, which helps in improving brain function, strengthening immune system of the body, improving erectile dysfunction, and fighting lethargy.

Additionally, ginseng extracts can be used to address various health issues, including different types of cancer, swine flu, anemia, diabetes, gastritis, asthma, and fever. Panax ginseng, in particular, is beneficial for the intestinal tract; however, its efficacy and quality can vary based on bioavailability and the form in which it is consumed. When taken orally, ginsenosides can be challenging to break down due to liver enzymes and gastric juices.

Once the extracts reach the intestine, they are fermented into more bioavailable metabolites by gut microflora, enhancing energy levels and supporting metabolic balance. Consequently, the medicinal properties of ginseng extracts are driving growth in the market as they become increasingly popular as supplements in the food and beverage industry.

Key Takeaways from Market Study

  • The ginseng extracts market is worth of USD 11,842.6 Million sales in 2024.
  • The ginseng extracts market is expected to expand at CAGRs of 4.4% through 2034.
  • Global ginseng extracts demand is projected to grow year-on-year (Y-o-Y) growth of 7.3% in 2024.
  • The ginseng extracts market is growing with a notable boost towards the production to reach USD 18,146.7 Million by 2034.
  • Innovative applications, research formulations, and medicinal properties are the factors driving growth of Ginseng Extracts market to be the influencing factors among consumers, which is driving sales of ginseng extracts across global markets.
  • Demand for ginseng extracts grew at 4.6% CAGR between 2019 and 2023.
  • Korea Ginseng Corp., Clariant, Korean Ginseng Export Corporation, RFI Ingredients, Inc, and Ilhwa Co., Ltd. are expected to be the top players in the industry.
  • Siberian ginseng type with capsule form segment of ginseng extracts are in heavy demand from beverage industry carrying a notable market share.

Competitive Landscape

Key manufacturers of ginseng extracts are concentrating on expanding their product portfolios through new innovations and investing in research and development. Meanwhile, leading brands in the ginseng extracts market are pursuing inorganic growth strategies, establishing a presence in various countries to increase their market share.

For instance

  • February 2024, Ginsa brands officially launched ginsa, the first-to-industry sparkling ginseng tonic centered around Korean red ginseng, an antioxidant-rich root celebrated for its ability to increase energy, enhance immunity, fight inflammation and improve focus.
  • February 2024, South Korean cosmetics startup FM Biohealth Co. launched a new skincare product that contains ginseng fruit extracts as an active substance.

Leading Ginseng Extracts Brands

  • Korea Ginseng Corp.
  • Clariant
  • Korean Ginseng Export Corporation
  • RFI Ingredients, Inc
  • Ilhwa Co., Ltd.
  • Organika Health Products Inc
  • Nature’s Way Products, LLC
  • Orkla Health A/S
  • Shanghai FanPharma Co., Ltd.
  • Koshiro Company Limited
  • Others

Tap into Expertise: Discuss with Our Analyst on Email: sales@futuremarketinsights.com

Key Segments of Market Report

By Product Type:

As per product type the industry has been categorized into American Ginseng, Oriental Ginseng, Siberian Ginseng , Asian Ginseng, Others

By Form:

The segment is further categorized into Powder, Liquid, Tablet, Capsule, Gel and Others

By Application:

Application in further categorized into Food & Beverages, Nutraceuticals & Dietary Supplements, Pharmaceutical, Cosmetics & Personal Care, Others

By Region:

Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa

About Future Market Insights (FMI)

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

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
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Unlocking Potential: The Growth Trajectory of the Global Pea Milk Market

A recent report by Future Market Insights, a market research and competitive intelligence provider, estimates that sales of pea milk will reach USD 283.5 million by 2032, with a significant growth rate of 10.4% CAGR over the next decade.

Pea milk, made from dry peas, is available in various flavors such as original, unsweetened, vanilla, and chocolate. Its creamy texture and superior health benefits compared to other plant-based milks are key factors driving consumer preference, contributing to the anticipated growth of the pea milk market.

The rising number of vegan and health-conscious consumers globally is significantly boosting the pea milk industry. Additionally, increasing awareness of lactose intolerance, due to insufficient levels of the enzyme lactase, is driving demand for dairy-free and vegan food products. As a result, plant-based milk alternatives are gaining popularity in both mature and emerging markets.

This growth is attributed to a rising number of individuals with dairy allergies. Additionally, increasing health awareness and growing disposable incomes have expanded the pea milk market. The introduction of new healthy ingredients by various market players also plays a significant role in driving this market’s growth.

Key Takeaways from Market Study

  • The United Kingdom is one of Europe’s most promising markets for pea milk. An increasing proportion of the British population will switch to a vegan, vegetarian, or pescatarian diet by 2022.
  • The market for pea milk in the United States is expected to grow rapidly, expanding at a CAGR of nearly 8.2% between 2022 and 2032. The US market is expected to have a market share of 60%.
  • With the outbreak of the COVID-19 pandemic, consumers are re-evaluating and changing their drinking and eating habits. The market is expected to grow at a rate of 9.1% from 2022-2023.
  • PET bottles, which are primarily used in the packaging of drinking water and beverages, are becoming increasingly popular in the pea milk industry.
  • Tetra packs of pea milk are expected to account for 40% of global market demand over the next decade. Sales are being boosted by the high convenience attributed to its lightweight and durability.

Competitive Landscape

Key pea milk manufacturers are emphasizing the penetration of mainstream retail markets by introducing a diverse range of product offerings. In addition, they are focusing on forming alliances with leading players as well as acquisitions.

  • Wunda, a new pea-based beverage from Nestlé, is “epic in everything” that milk is used for. That is, it can be eaten plain, poured over cereal, mixed into hot beverages, frosted, cooked with, and so on.
  • Sproud Original Drink is a plant-based milk that tastes like milk. It is as white as milk and contains no allergens, lactose, nuts, Pea, or genetically modified organisms. Furthermore, it is high in protein and has a very low sugar content. Ideal for a healthy diet.

Key Companies Profiled

  • Ripple Foods
  • Sproud
  • Bolthouse Farms
  • Snappea Foods
  • Qwrkee Foods Ltd
  • Devon Garden Foods
  • VLY Foods
  • Nestle SA
  • Freedom Foods
  • Mighty Pea
  • Drinkstar
  • Asia Pte Ltd

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Pea Milk Market by Category

By Flavor, Pea Milk Market is Segmented as:

  • Original Flavored Pea Milk
  • Vanilla Flavored Pea Milk
  • Chocolate Flavored Pea Milk
  • Barista Flavored Pea Milk

By Packaging Material, Pea Milk Market is Segmented as:

  • Tetra Packs
  • PET Bottles

By End-User, Pea Milk Market is Segmented as:

  • Individual Consumers
  • HoReCa
  • Gyms & Cafes

By Sales Channel, Pea Milk Market is Segmented as:

  • Brick & Mortar Stores
  • Online Retail Channels

By Region, Pea Milk Market is Segmented as:

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

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

Rising Demand for Convenience Foods Fuels Growth in the Frozen Snacks Market

The global frozen snacks market is set for significant growth between 2023 and 2033. According to a research report by Future Market Insights, the market is projected to exceed a valuation of USD 136,981 million in 2023 and reach approximately USD 250,736.0 million by 2033, reflecting a CAGR of 6%.

This growth is largely driven by increasing consumer demand for convenient foods that offer high nutritional value, enhanced flavors, and diverse options, leading to greater consumption of frozen snacks.

As consumers become more aware of the nutritional content in packaged and frozen foods, brands are responding by adding essential nutrients, vitamins, and minerals to meet this rising demand. Consequently, sales are expected to grow significantly throughout the assessment period.

The growing demand for ready-to-eat meals worldwide is driving manufacturers to introduce unique flavors and ingredients in frozen snacks. By launching nutrient-rich convenience foods that utilize organic components and distinct flavor profiles, they aim to boost market sales.

As consumers embrace diverse diets like vegan, gluten-free, and keto, manufacturers are responding by investing in research and development. This focus includes incorporating clean-label and organic ingredients, along with innovative packaging and branding strategies, to enhance sales. These efforts are expected to create significant growth opportunities in the market.

Key takeaways from Frozen Snacks Market:

  • The global frozen snacks industry size increased at a CAGR of 2.6% from 2018 to 2022.
  • In 2018, the global market size stood at USD 119,050.3 million.
  • The market size stood at USD 131,712.70 million in 2022.
  • In 2022, the meat-based segment garnered a 34.6% share of the global market.
  • In 2022, the supermarkets and hypermarkets segment captured a 27.6% share of the global market.
  • In 2022, China captured a 5.8% share of the global market.
  • In 2022, the United States captured an 18.2% share of the global market.

Competitive Landscape

Key players in the global market are investing heavily in research and development to enhance nutritional value and extend shelf life in their products. They are also pursuing strategic partnerships, mergers, and acquisitions to expand their reach and geographical presence. Additionally, the introduction of new products and superior frozen snack options are integral components of the organic strategies employed by these leading companies.

Recent Developments

  • In May 2023, Bikano, a manufacturer of packaged snacks and snacks, introduced a line of frozen snacks into the global market to increase export sales by 40% year over year. Bikano expects to reach Rs 200 crores in revenue in FY 23–24 as a result of this move as it looks to capitalize on prospects in the global market.
  • In April 2022, Cofresh Snack Foods, a snack company in India, expanded its product line by introducing exotic veggies and innovative frozen Indian snacks. The new line-up includes new products like Batata Vada and Aloo Tikki, which are made with potato and chickpea flour, as well as other well-known Indian street foods like Vegetable Kathi Roll, Tandoori Chilli Potato Kathi Roll, and hand-stretched Tandoori Garlic Naan.

Key Players Working in the Global Market for Frozen Snacks:

  • Nestle’
  • ConAgra Foods Inc.
  • Ajinomoto Co. Inc.
  • McCain Foods
  • The Kraft Heinz Co.
  • Cargill Incorporated
  • Tyson Foods Inc.
  • NewForrest Fingerfood BV
  • Rich Products Corp.
  • Nomad Foods Ltd.
  • Others

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Frozen Snacks Market Segmentation

By Product Type:

  • Desserts
  • Confectionery
  • Vegetable & Fruit Snacks
  • Bakery Products
  • Meat Based Snacks
  • Meat Substitute Snacks
  • Seafood Snacks
  • Other Products

By Category:

  • Ready to Eat
  • Ready to Cook
  • Others

By Sales Channel:

  • Offline Sales Channel
    • Supermarkets/Hypermarkets
    • Departmental Stores
    • Convenience Stores
    • Other Sales Channel
  • Online Sales Channel
    • Company Website
    • E-commerce Platform

By Region:

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

About Future Market Insights (FMI)

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

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Global Small Molecule CMO/CDMO Market Poised for Robust Growth, Reaching USD 124,532.4 Million by 2034, Says Future Market Insights

The global small molecule CMO/CDMO market is set for impressive expansion, according to the latest report from Future Market Insights (FMI). The market is projected to grow at a robust Compound Annual Growth Rate (CAGR) of 5.2% from 2024 to 2034, reaching an estimated value of approximately USD 74,998.1 million in 2024 and soaring to USD 124,532.4 million by the end of the forecast period.

Small-molecule Active Pharmaceutical Ingredients (APIs) are integral to the pharmaceutical industry, forming the cornerstone of many medications. These APIs are distinguished by their low molecular weights and chemical synthesis, enabling targeted therapeutic effects through precise interactions with biological systems.

The FMI report emphasizes the growing importance of small molecule CMO/CDMO services in meeting the surging global demand for small-molecule APIs. As pharmaceutical companies increasingly seek to outsource operations to streamline processes, enhance operational flexibility, and access specialized expertise, the small molecule CMO/CDMO sector is experiencing notable growth. This trend underscores a broader shift in the industry towards leveraging external partners to drive efficiency and foster innovation.

With the market’s expansion, small molecule CMO/CDMO providers are anticipated to play a crucial role in supporting the evolving needs of the pharmaceutical industry. They will be instrumental in ensuring the efficient production and development of essential small-molecule APIs, thereby contributing significantly to advancements in medication and therapeutic solutions.

Key factors driving the growth of the global small molecule CMO/CDMO market include:

  • Rising Demand for Customized Drug Development: The growing need for tailored therapeutic solutions and personalized medicine is propelling the demand for small molecule CMO/CDMO services, enabling pharmaceutical companies to develop niche products with precision.
  • Advancements in Pharmaceutical Technologies: Technological advancements, particularly in synthetic chemistry, process optimization, and analytical methodologies, are bolstering the efficiency and cost-effectiveness of small molecule CMO/CDMO operations, driving market expansion.
  • Increasing Focus on API Manufacturing Outsourcing: Pharmaceutical companies are increasingly outsourcing API manufacturing to specialized CMOs/CDMOs to capitalize on their expertise, infrastructure, and regulatory compliance, fostering market growth.
  • Expanding Biopharmaceutical Pipeline: The burgeoning pipeline of small-molecule drugs, coupled with patent expirations and generic competition, is fueling demand for CMO/CDMO services for API development, manufacturing, and formulation.

Future Market Insights’ comprehensive analysis offers valuable insights for stakeholders, including small molecule CMOs/CDMOs, pharmaceutical companies, investors, and regulatory authorities, to capitalize on emerging opportunities and navigate challenges in the evolving landscape.

Key Takeaways from the Small Molecule CMO/CDMO Market Study:

  • By product, the standard API segment held a lucrative small molecule CMO/CDMO market share of 7% in 2023.
  • By service, the process development segment is expected to hold over 8% market value share by the end of 2034.
  • By company size, the mid-sized company segment is set to progress at a 8% CAGR, totaling a valuation of USD 55,615.8 million by 2033.
  • By the scale of operation, the commercial segment is set to expand at a high CAGR of 6%, totaling USD 90,027.3 million in 2033.
  • East Asia is considered the leading region, with a value share of 0% at the end of the forecast period.

Small Molecule CMO/CDMO Trends: Find Out More in Our Comprehensive Report Filled with Key Insights!

Competitive Landscape:

Acquisition and expansion among leading companies or brands is the key strategy of renowned manufacturers in the global small molecule CMO/CDMO market. Companies such as Ajinomoto Bio-Pharma Services and Asymchem are aiming to enhance their presence in the market and compete with other players during the estimated years.

Key Companies Profiled:

  • Pfizer CentreOne
  • Baxter BioPharma Solutions
  • Catalent
  • Lonza
  • Syngene International
  • Boehringer Ingelheim
  • Piramal Pharma Solutions
  • Wuxi AppTec
  • Patheon (Thermo Fisher Scientific Inc.)
  • Adare Pharma Solutions
  • Ajinomoto Bio-Pharma Services
  • Ascendia Pharma
  • Asymchem
  • August Bioservices
  • Cambrex
  • Nanoform
  • PCI Pharma Services
  • Quotient Sciences
  • Societal™ CDMO
  • Siegfried Holding AG
  • Corden Pharma International

Following are a handful of examples of acquisitions made by them to be at the top position:

  • In August 2020, Ajinomoto Bio-Pharma Services added a new 8,500-square-meter production facility to its Visakhapatnam, India site, increasing its capability for manufacturing small molecules.
  • In November 2022, Snapdragon Chemistry, a United States-based chemical technology company that offers experience in continuous manufacturing and early-stage chemical process development services to the pharmaceutical and fine chemical industries, was acquired by Asymchem. It is a contract development and manufacturing organization (CDMO) catering to the global pharmaceutical and biotech industry.

Key Market Segments Covered in Small Molecule CMO/CDMO Industry Research:

By Product:

  • Standard API
  • HPAPI

By Service:

  • Process Development
  • Analytical Method Development
  • GMP Manufacturing Service
  • Scale-Up and Tech Transfer
  • Quality Control and Quality Assurance
  • Regulatory Assistance
  • Technology and Innovation

By Company Size:

  • Large
  • Mid-sized
  • Small

By Scale of Operation:

  • Clinical
    • Phase I
    • Phase II
    • Phase III
  • Commercial

By Region:

  • North America
  • East Asia
  • Western Europe
  • Eastern Europe

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.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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The Rise of Vegan Yogurt: A Healthy Trend Driving Market Growth at 5.8% CAGR

The vegan yogurt market is projected to grow steadily at a CAGR of 5.8% from 2023 to 2033, increasing in value from USD 6.7 billion in 2023 to over USD 11.7 billion by 2033.

  • The rising vegan movement all over the world is contributing to the higher production and sales of vegan consumables, such as yogurt and milk. These products are there to replace dairy products.
  • Vegan yogurt’s popularity with its health benefits provided by higher fiber, calcium, and protein levels is flourishing in its sales.
  • A big chunk of the urban population that doesn’t follow a vegan diet also tries vegan Yogurt because of its taste and health benefits. Vegan yogurt is treated as a super food that is provided in some urban settings.
  • A section of lactose intolerant people also consume vegan yogurt to fulfill their nutritional requirements, while not comprising their vegan diet.
  • Social media and internet trends around veganism are pushing the masses to try the vegan diet once. Furthermore, the exceptional campaigns and top-notch advertising has also helped the vegan yogurt companies in selling products.

Key Points

  1. The United States market is another significant market. The market is anticipated to cross a value of USD 803.6 million by 2033. The regional market is expected to thrive at a CAGR of 5.4% between 2023 and 2033. The growth is attributed to rising veganism and anti-diary movements.
  2. The China vegan yogurt market leads in terms of CAGR and market share. It is expected to thrive at a leading CAGR of 6.9% during the forecast period. The market is likely to reach a value of US$ 5.6 billion by 2033. Growing demand for vegan products, along with the increased lactose intolerant population, is flourishing the sales of vegan yogurt in China
  3. Almond yogurt is likely to thrive in the product category due to its easy availability and high nutritional value. It is expected to thrive at a CAGR of 6.6% during the forecast period.
  4. The household segment tops the end-use category with a CAGR of 3.8% between 2023 and 2033. The growth is attributed to its benefits in the daily diet through increased consumption.

Competitive Landscape

The global vegan yogurt market is highly fragmented, with leading players introducing high-quality, nutrient-rich products. Increasing demand has driven these companies to expand their production capacity, enabling them to accommodate diverse tastes and preferences while preserving nutritional value.

Recent Developments

  • Epigamia, an Indian startup, announced the debut of a dairy-free coconut milk-based yogurt variety that is unsweetened specifically to meet the needs of Indian consumers.
  • Danone has introduced its vegan yogurt under its essential dairy and plant-based products. The product is produced through almond milk and coconut milk.

Key Players

  • Stonyfield Farm, Inc.
  • KaTech
  • Epigamia
  • NANCY’S
  • Daiya Foods Inc
  • Kite Hill
  • Chobani, LLC
  • COYO Pty Ltd.

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Key Segments 

By Product Type:

  • Soy Milk Yogurt
  • Coconut Milk Yogurt
  • Almond Milk Yogurt
  • Rice Milk Yogurt

By Flavor:

  • Chocolate
  • Strawberry
  • Banana
  • Pineapple
  • Mango
  • Lemonade
  • Peach

By End Use:

  • HORECA
  • Household

By Sales Channel:

  • Offline Sales Channel
    • Supermarkets/Hypermarkets
    • Departmental Stores
    • Convenience Store
    • Other Sales Channel
  • Online Sales Channel
    • Company Website
    • E-commerce Platform

By Region:

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

About Future Market Insights (FMI)

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

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
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Global Ayurvedic Supplement Market Poised for Remarkable Growth, Projected to Reach USD 4,708.2 Million by 2034

The global ayurvedic supplement market is on a trajectory of extraordinary expansion, with industry experts predicting a substantial valuation of USD 4,708.2 million by 2034. This robust growth trajectory underscores a rising global fascination with traditional healthcare practices and natural remedies.

In 2024, the market achieved a noteworthy valuation of USD 1,831.8 million, marking a pivotal milestone in its ascent. Over the next decade, the ayurvedic supplement market is projected to experience a strong Compound Annual Growth Rate (CAGR) of 9.9%, reflecting a steady upward trend in the industry.

Ayurveda, with its deep roots in ancient Indian medicine, has increasingly captured consumer interest as people seek holistic wellness solutions. This surge in market valuation highlights the growing global enthusiasm for traditional healing practices and natural remedies.

Several key factors are driving the impressive growth of the ayurvedic supplement market. There is a heightened awareness of natural and organic products, a growing preference for preventive healthcare, and the increasing popularity of holistic treatment methods. Consumers are turning to ayurvedic supplements for their proven benefits and natural origins, seeking alternatives to conventional medicine.

The projected market expansion is driven by the rising recognition of the efficacy of Ayurvedic supplements in enhancing overall health and wellness. Additionally, an increase in lifestyle-related health concerns and a preference for organic and plant-based products are further fueling demand.

Innovative product developments and strategic collaborations among leading industry players are also contributing to market growth. Companies are expanding their product portfolios and reaching broader consumer bases, creating significant opportunities for innovation, research, and market expansion within the Ayurvedic supplement sector.

As the industry continues to evolve and captivate global attention, stakeholders, investors, and consumers are closely observing this upward trend, anticipating transformative changes in the wellness and healthcare landscape.

Key Takeaways from the Market Study:

  • Nutritional supplements are the leading product segment and are expected to hold a 9% market share in 2024.
  • Capsules/tablets segment is set to lead in the form of ayurvedic supplements with a projected market share of 9% in 2024.
  • By distribution channel, e-commerce is leading in the ayurvedic supplements market, with a forecasted market share of 9% in 2024.
  • Japan is predicted to be one of the leading countries in the market. For the 2024 to 2034 period, Japan’s CAGR is 9.1%.
  • India and China are the other Asian countries marked with potential for the market. For the forecast period, the CAGR for China and India is projected to be 8.8% and 8.1%.

“Several businesses have launched products with nature-inspired components because of the market’s apparent high demand for natural ingredients. Additionally, leading market players are focusing on novel product development with an enhanced formulation that is effective due to increasing concerns among people about the side effects of conventional medication.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).

Increased Interest in Ayurvedic Supplement: Explore Our Detailed Report for Key Trends and Insights!

Market Competition:

There are numerous regional, up-and-coming, and established businesses in the ayurvedic supplement market, which is fragmented. Key players have started product launches and marketing activities to broaden the product line. Some prominent companies in the market.

Recent Developments:

  • In March 2021, the Ayurveda brand Maharishi Ayurveda rolled out its digital advertisement campaign, featuring a celebrity face in Milind Soman to promote the product Amrit Kalash.
  • In February 2020, Dabur India Ltd. brought out Dabur Keratex, a hair oil enriched with ayurvedic ingredients to control dandruff and nourish the dry scalp.
  • In September 2021, NatureCode launched a new range of dry herbs and ayurvedic wellness products.

Key Companies Profiled:

  • Maharishi Ayurveda India Products Private Limited
  • Surya Herbal Ltd
  • Gynoveda Femtech Private Ltd.
  • Herbal Health Solutions
  • Dabur India Limited
  • ‎ Emami Limited.
  • Veloce Herbals Pvt. Ltd.
  • Riaan Wellness Pvt. Ltd.
  • Global Healthfit Retail India LLP
  • ‎ Pharma Science
  • The Himalaya Drug Co.
  • Tactus Nutrascience
  • ‎ Relevium
  • ‎Organic Dehydrated Foods Pvt. Ltd.
  • BACFO PHARMACEUTICALS (India) Ltd.
  • Herbolab India Pvt Ltd
  • Green Cross Health Innovation
  • ManSure
  • Banyan Botanicals

Key Market Segments Covered in Ayurvedic Supplements Industry Research:

By Product:

  • Dietary Supplements
  • Nutritional Supplements
  • Men and Women Health Supplements
  • Ayurvedic Skin Supplements
  • Others

By Form:

  • Capsules/Tablets
  • Powder
  • Syrups
  • Oil and Ointment
  • Other

By Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Mail Order Pharmacies
  • E-commerce

By Region:

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

About Future Market Insights (FMI)

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

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