Global Drug Formulation Market Set to Reach USD 1.58 Trillion by 2022, With Oral Formulations Leading Growth at 6.0% CAGR

Drug Formulation Market
Drug Formulation Market

The global drug formulation market is anticipated to grow significantly, with a projected compound annual growth rate (CAGR) of 5.6% from 2022 to 2032. The market for drug formulations is estimated to achieve a valuation of USD 1.58 trillion by the end of 2022, reflecting robust growth and increased market activity.

Oral formulations are expected to be a major driver of this growth, projected to expand at an impressive CAGR of 6.0% during the forecast period. This segment’s growth is attributed to the increasing preference for oral drug delivery systems due to their convenience and ease of administration.

As the demand for efficient and effective drug formulations continues to rise globally, the market is on a strong trajectory for significant expansion over the next decade.

Because it makes it easier to convert active pharmaceutical ingredients (APIs) into completed medications that are safe for people to take, the global drug formulation market is essential to the pharmaceutical sector. Both the rising demand for pharmaceutical products and improvements in the technology of medicine formulation account for the anticipated growth.

Key Takeaways:

  • The global drug formulation market is expected to reach USD 2.87 trillion by 2032, growing at a CAGR of 5.6%.
  • Oral formulations are projected to experience the fastest growth, with a CAGR of 6.0% during the forecast period.
  • Rising demand for innovative drug delivery systems and growing healthcare needs worldwide are key drivers.

Competitive Landscape:

In the medication formulation industry, major players are employing methods such as advanced product launches through approvals and mergers and acquisitions. The major businesses are concentrating on working with the research institutes to gain a competitive edge in the marketplace.

  • A definitive merger agreement between Bristol Myers Squibb and Turning Point Therapeutics was signed on June 20, 2022. This acquisition will expand BMS’s selection of oncology drugs because Turning Point Therapeutics is a precision oncology company that is still in the clinical development stage.
  • AstraZeneca introduced The Evusheld long-acting antibody combo to the public on March 20, 2022. For the pre-exposure prophylaxis (prevention) of COVID-19 in a sizable population, it has received authorization in Europe.

Key Companies Profiled:

  • AstraZeneca plc.
  • Bristol-Myers Squibb
  • Eli Lilly and Company
  • Gilead Sciences, Inc.
  • Merck & Co., Inc.
  • Novartis AG
  • Pfizer Inc.
  • AbbVie Inc.
  • Boehringer Ingelheim International GmbH
  • F. Hoffmann-La Roche AG
  • Johnson & Johnson
  • 3M Company
  • Bayer AG
  • Teva Pharmaceuticals Industries Ltd.
  • Amgen, Inc.
  • Sanofi SA
  • GlaxoSmithKline plc
  • Boston Scientific Corporation
  • Gerresheimer AG
  • Nimbus Therapeutics
  • Antares Pharma, Inc.
  • IDEAYA Biosciences, Inc.

A Old Full Report Analysis Click Here

Key Market Segments Covered in Drug Formulation Industry Research:

By Dosage Form:

  • Oral formulations
    • Tablets
      • Immediate Release
      • Modified Release
      • Chewable
      • Effervescent
    • Capsules
      • Hard Gelatin Capsules
      • Softgel Capsules
      • Others
    • Powders & Granules
    • Lozenges & Pastilles
    • Gummies
    • Others
  • Parenteral formulations
    • Solutions
    • Suspensions
    • Emulsions for injection or infusion
    • Powders for injection or infusion
    • Gels for injection implants
  • Topical formulations
    • Pastes
    • Ointments and oils
    • Creams, lotions, and foams.
    • Gels, tinctures, and powders
    • Sprays and patches
  • Inhalation formulations
    • Pressurized Metered Dose Inhaler
    • Dry Powder Inhaler (DPI)
    • Nebulizer

By Indication:

  • Infectious Diseases
  • Cancer
  • Cardiovascular Diseases
  • Diabetes
  • Respiratory Diseases
  • Central Nervous System Disorders
  • Autoimmune Diseases
  • Gastrointestinal Diseases
  • Musculoskeletal Disorders
  • Dermatological Disorders
  • Other

By End User:

  • Big pharma
  • Small & Medium Size Pharma
  • Biotech Companies

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

Synthetic Biology Market to Soar to USD 31.73 Billion by 2034 at a 23.8% of CAGR

Synthetic Biology Market
Synthetic Biology Market

The global synthetic biology market is set for extraordinary expansion, with a projected rise from USD 3.75 billion in 2024 to an impressive USD 31.73 billion by 2034. This growth represents a remarkable compound annual growth rate (CAGR) of 23.8% over the forecast period.

This rapid growth is driven by the increasing need to enhance practical capabilities, redesign naturally occurring systems, and develop new biological components, tools, and systems. Synthetic biology is becoming an essential driver of innovation in industries that rely on bio-based chemicals, renewable fuels, and cost-effective medications and vaccines.

In addition, the global push for genetically modified crops to meet the food demands of an ever-expanding population is contributing significantly to the market’s momentum. As advancements in synthetic biology continue to revolutionize multiple sectors, the market is well-positioned for sustained growth over the next decade.

At the same time, utmost care needs to be taken to see that government protocols are followed for selling any of the synthetic biology products in the market.

Genetically engineered products, gene synthesis, DNA sequencing, NGS (next-generation sequencing), and bioinformatics are enhancing research in this field of medicine at the global level.

Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Synthetic Biology Market’. It has its line of expertise in the form of analysts and consultants to execute using a 360-degree approach in its primary, secondary, and tertiary modes of research.

“With discovery of novel therapeutic targets to treat diseases like cancer on the anvil, the global synthetic biology market is slated to grow voraciously in the upcoming period”, says an analyst from Future Market Insights.

Bioengineering is an interdisciplinary field of science that combines biology and engineering principles to design and build new biological systems or modify existing ones. It involves the application of engineering principles to biological systems, with the goal of creating new and useful functions that are not found in nature.

Key Takeaways from Synthetic Biology Market

  • North America holds the largest market share with the US being home to maximum biopharmaceutical and pharmaceutical companies.
  • Europe holds a significant market share on the back of Germany. This is evident from the fact that Robert Koch Institute, in the year 2019, had 502,655 people based out of Germany diagnosed with cancer. This calls for high-level adoption of synthetic products amongst the Germans.
  • The Asia-Pacific is expected to be led by China. This could be credited to nigger strategic investment in research in synthetic biology, thereby boosting the bio-economy in the forecast period.

Competitive Biology

  • Novozymes, in January 2021, did launch Frontia GlutenEx with the objective of assisting wheat processors to increase recovery rate of gluten protein and also cut down on consumption of energy.
  • Merck, in February 2021, entered into partnership with BioNtech for supplying lipids for manufacturing Pfizer-BioNtech Covid-19 vaccine (BNT162b2).
  • Merck, in January 2021, completed acquisition of AmpTec to strengthen the product portfolio for manufacturing and developing mRNA to facilitate diagnostics, treatments, and vaccination.
  • Ribbon Biolabs, in January 2022, did raise a series A financing fund worth EUR 18 Million with the objective of enabling production facilities at the commercial scale along with DNA synthesis technology’s expansion in the US.
  • GenScript, in November 2021, did expand the gene synthesis production capacities in the US with 100% automated oligo synthesis along with sequencing platforms.
  • The PABC (Pennsylvania Biotechnology Center), in September 2022, did announce that Thermo Fisher Scientific joined hands as one of the founding sponsors of PABC campus at Doylestown; along with its novel B+Labs incubator in Philadelphia; wherein upcoming life science companies could catalyze the way to commercialization.
  • Medichem and Bota Bio, in August 2022, did commit to promote sustainability while improvising on industrial processes. The latter’s expertise with respect to enzyme engineering would be used for developing enzymes that could be effortlessly incorporated into former’s chemical processes.
  • Codexis, in July 2021, along with Kalsec, Inc., did announce expanding research collaboration for manufacturing Kalsec’s natural hop acid.

Key Market Players:

  • Thermo Fisher Scientific, Inc.
  • Merck KGaA
  • Novozymes
  • Agilent Technologies, Inc.
  • Codexis, Inc.
  • Bota Biosciences Inc.
  • Creative Biogene.
  • Creative Enzymes.
  • Enbiotix, Inc.
  • Illumina, Inc.
  • Other

Key Market Segments Covered in Synthetic Biology Industry Research

By Product:

  • Oligonucleotides
  • Enzymes
  • Synthetic Cells
  • Cloning Technologies Kits
  • Xeno-Nucleic Acids
  • Chassis Organism

By Application:

  • Healthcare
  • Non-Healthcare

By End User:

  • Biotechnology and Pharmaceutical companies
  • Academic and Government Research Institutes
  • Others

At the same time, utmost care needs to be taken to see that government protocols are followed for selling any of the synthetic biology products in the market.

Genetically engineered products, gene synthesis, DNA sequencing, NGS (next-generation sequencing), and bioinformatics are enhancing research in this field of medicine at the global level.

Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Synthetic Biology Market’. It has its line of expertise in the form of analysts and consultants to execute using a 360-degree approach in its primary, secondary, and tertiary modes of research.

“With discovery of novel therapeutic targets to treat diseases like cancer on the anvil, the global synthetic biology market is slated to grow voraciously in the upcoming period”, says an analyst from Future Market Insights.

Bioengineering is an interdisciplinary field of science that combines biology and engineering principles to design and build new biological systems or modify existing ones. It involves the application of engineering principles to biological systems, with the goal of creating new and useful functions that are not found in nature.

Author By:

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

Global Cardiac Ambulatory Monitoring Market to Expand to USD 21.8 Billion by 2031 at a 5.2% of CAGR

Global Cardiac Ambulatory Monitoring Market
Global Cardiac Ambulatory Monitoring Market

The global cardiac ambulatory monitoring market, valued at USD 13.3 billion in 2021, is set for substantial growth, with a projected compound annual growth rate (CAGR) of 5.2% over the forecast period. By 2031, the market is expected to reach approximately USD 21.8 billion, according to a recent study by Future Market Insights.

A key driver of this growth is the increasing adoption of ECG devices, which currently dominate the cardiac ambulatory monitoring market. In 2021, ECG devices accounted for approximately 42.2% of the market share, reflecting the rising demand for efficient cardiac monitoring solutions in outpatient settings.

This steady market expansion is attributed to advancements in technology, the growing prevalence of cardiovascular diseases, and a shift towards more accessible, patient-centric healthcare solutions. As the healthcare industry continues to innovate, the cardiac ambulatory monitoring market is poised for sustained growth in the years to come.

During the projected period, the global market is anticipated to be driven by the steadily rising use of cardiac ambulatory monitoring devices for the treatment of cardiac arrhythmia and other cardiac disorders. Cardiac ambulatory monitors can be used both inside and externally. For instance, implantable loop recorders with a three-year battery life can be placed transdermal. As a result, the electrical activity of the heart is continuously monitored.

Due to the rapid advancement of technology, rising rates of cardiovascular disorders around the world, and an aging population, the market for cardiac ambulatory monitoring is growing at a rapid rate. The market for cardiac ambulatory monitoring devices is anticipated to grow significantly over the next few years as a result of improvements in technology and innovations in cardiac ambulatory monitoring devices.

As cardiac ambulatory monitoring devices are not reaching the customer at their full potential due to associated side effects and the pricey nature of the devices, companies are introducing portable cardiac ambulatory monitoring devices at reasonable costs, and this might significantly improve the usability and adoption of cardiac ambulatory monitoring devices.

Manufacturers releasing products like portable/wearable gadgets with cutting-edge features like Bluetooth connectivity, integral ECG monitors, fitness trackers, and other numerous functions, will help in growing sales of the devices, as a result, the cardiac ambulatory monitoring market will expand during the forecast period.

Key Takeaways from Market Study

  • ECG devices are the leading segment as a product and hold approximately 42.2% market share in 2021. Owing to their lower pricing, these devices can also be utilized in medical operations, along with a variety of other cardiac diagnostic tests, telemetry monitoring equipment, and other tools.
  • Hospitals are the leading segment as end users, and held about 35.0% market share in 2021, due to the rising incidence of CVDs, the rising number of hospital visits, and the rising number of cardiac device implantation procedures.
  • By region, North America is leading the global cardiac ambulatory monitoring market and is expected to continue to do so with a projected CAGR of 4.4% during the forecasted years.
  • The region of Europe is slated to be the second dominant segment in terms of growth, holding a market share of around 25.6% in the global cardiac ambulatory monitoring market, in 2021.

“Rising initiatives to promote a healthy lifestyle, as well as the increasing awareness about the cardiac monitoring devices is set to propel the sales of cardiac ambulatory monitoring devices across the globe,” says an analyst of Future Market Insights.

Market Competition

Major manufacturers concentrate on a range of strategic goals, including regional growth, product development, and strategic alliances and partnerships. For quick and simple diagnosis, new portable monitoring devices are being introduced for heart activity monitoring.

  • Boston Scientific Corporation stated in January 2021 that it has acquired Preventice Solutions Inc. to provide ambulatory cardiac monitors (including short- and long-term Holter monitors), cardiac event monitors, and MCT.
  • In order to increase the production of AEDs for cardiac monitoring and provide related services and accessories, ZOLL Medical Corporation announced in August 2019 that it has acquired Cardiac Science Corporation.

Author By:

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

Teeth Whitening Market Projected to Reach USD 10,766.7 Million by 2034 at a 4.10% of CAGR

Teeth Whitening Market
Teeth Whitening Market

The global teeth whitening market is on track to reach an estimated valuation of USD 7,204 million by 2024. With an expected compound annual growth rate (CAGR) of 4.10% through 2034, the market is anticipated to surpass USD 10,766.7 million by the end of the forecast period.

Companies in the sector are responding to diverse consumer needs by offering personalizable solutions tailored to individual preferences, including products aimed at different age groups. This focus on customization is expected to fuel market expansion and position the industry for sustained growth.

As teeth whitening products continue to gain popularity worldwide, businesses are seeking innovative ways to cater to a broad range of customers, ensuring the market remains vibrant and competitive in the years ahead.

About 47.2% of Americans over 30 in the U.S. have periodontal disease, according to the CDC. Additionally, increasing number of dental aesthetic operations has led to the development of new technology in cosmetic dentistry, and the established healthcare infrastructure is substantially supporting market expansion on a global level.

Due to this there are now more licences and permits available on the market for teeth whitening products, which has increased the variety of products available. Enterprises in the market are focusing on obtaining regulatory approvals in order to advance the sector and offer items that adhere to rules.

Thus, the market for teeth whitening will expand due to the growing usage of these products.

Key Takeaways from Market Study

  • The teeth whitening devices segment accounted for around 0% share of total teeth whitening market in 2021, owing to a rise in the awareness for oral hygiene as well as education of people regarding treatment of periodontal diseases through these devices.
  • The retail sales segment dominates the teeth whitening market with about 0% share in 2021, owed to the increasing need for teeth whitening products.
  • North America accounts for the highest share of 4% of the global teeth whitening market share in 2021, due to the increased incidence of oral cancer cases, increasing influence of social media, and increase in the number of product approvals in this region.
  • Europe is slated to be the second largest region for teeth whitening market, holding a market share of around 2% in the global market, in 2021, owed to the presence of a high number of independent dental practices.

“Increasing incidence of periodontitis and associated diseases, and increasing number of approvals by the regulatory bodies for teeth, are factors set to boost the market over the forecast period,” says an analyst of Future Market Insights.

Market Competition

In order to diversify their product offerings and increase their geographical presence, leading industry participants in the teeth whitening market are concentrating on the development, introduction, and approval of innovative products.

  • American Orthodontics and Ultradent Goods, Inc. established a partnership on February 8, 2021, in which American Orthodontics would exclusively distribute Ultradent’s Opal Orthodontics branded products to orthodontists in the United States.
  • Repair and Protect with Deep Repair toothpaste was introduced by GSK Consumer Healthcare in September 2021 to provide a minty and whitening toothpaste for people who have dentine hypersensitivity.

Key Companies Profiled

  • Procter & Gamble
  • Colgate Palmolive
  • Johnson & Johnson
  • Unilever
  • Ultradent Products Inc.
  • Church & Dwight Co.
  • GlaxoSmithKline Plc
  • 3M Company
  • DENTSPLY international
  • Henkel AG & Co KGaA
  • Others

Teeth Whitening Market by Category

By Product:

  • Teeth Whitening Gels & Strips
    • Carbamide Peroxide with Potassium Nitrate and Fluoride
    • Carbamide Peroxide
    • Hydrogen Peroxide
  • Teeth Whitening Devices
    • LED Lights
      • Corded LED Lights
      • Cordless LED Lights
    • UV Lights
    • Halogen Lights
  • Oral Care Products
  • Others

By Distribution Channel:

  • Institutional Sales
    • Dental Hospitals
    • Dental Clinics
    • Group Dental Practice
  • Retail Sales
    • Retail Pharmacies
    • Drug Stores
    • Hypermarket and Supermarket
    • Online Sales

About 47.2% of Americans over 30 in the U.S. have periodontal disease, according to the CDC. Additionally, increasing number of dental aesthetic operations has led to the development of new technology in cosmetic dentistry, and the established healthcare infrastructure is substantially supporting market expansion on a global level.

Due to this there are now more licences and permits available on the market for teeth whitening products, which has increased the variety of products available. Enterprises in the market are focusing on obtaining regulatory approvals in order to advance the sector and offer items that adhere to rules.

Thus, the market for teeth whitening will expand due to the growing usage of these products.

Key Takeaways from Market Study

  • The teeth whitening devices segment accounted for around 0% share of total teeth whitening market in 2021, owing to a rise in the awareness for oral hygiene as well as education of people regarding treatment of periodontal diseases through these devices.
  • The retail sales segment dominates the teeth whitening market with about 0% share in 2021, owed to the increasing need for teeth whitening products.
  • North America accounts for the highest share of 4% of the global teeth whitening market share in 2021, due to the increased incidence of oral cancer cases, increasing influence of social media, and increase in the number of product approvals in this region.
  • Europe is slated to be the second largest region for teeth whitening market, holding a market share of around 2% in the global market, in 2021, owed to the presence of a high number of independent dental practices.

“Increasing incidence of periodontitis and associated diseases, and increasing number of approvals by the regulatory bodies for teeth, are factors set to boost the market over the forecast period,” says an analyst of Future Market Insights.

Market Competition

In order to diversify their product offerings and increase their geographical presence, leading industry participants in the teeth whitening market are concentrating on the development, introduction, and approval of innovative products.

  • American Orthodontics and Ultradent Goods, Inc. established a partnership on February 8, 2021, in which American Orthodontics would exclusively distribute Ultradent’s Opal Orthodontics branded products to orthodontists in the United States.
  • Repair and Protect with Deep Repair toothpaste was introduced by GSK Consumer Healthcare in September 2021 to provide a minty and whitening toothpaste for people who have dentine hypersensitivity.

Key Companies Profiled

  • Procter & Gamble
  • Colgate Palmolive
  • Johnson & Johnson
  • Unilever
  • Ultradent Products Inc.
  • Church & Dwight Co.
  • GlaxoSmithKline Plc
  • 3M Company
  • DENTSPLY international
  • Henkel AG & Co KGaA
  • Others

A Old Full Report Analysis Click Here

Teeth Whitening Market by Category

By Product:

  • Teeth Whitening Gels & Strips
    • Carbamide Peroxide with Potassium Nitrate and Fluoride
    • Carbamide Peroxide
    • Hydrogen Peroxide
  • Teeth Whitening Devices
    • LED Lights
      • Corded LED Lights
      • Cordless LED Lights
    • UV Lights
    • Halogen Lights
  • Oral Care Products
  • Others

By Distribution Channel:

  • Institutional Sales
    • Dental Hospitals
    • Dental Clinics
    • Group Dental Practice
  • Retail Sales
    • Retail Pharmacies
    • Drug Stores
    • Hypermarket and Supermarket
    • Online Sales

Author By:

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

Global Peripheral Vascular Devices Market Set to Reach USD 8.9 Billion by 2032 at a 6.6% of CAGR

Global Peripheral Vascular Devices Market
Global Peripheral Vascular Devices Market

The global peripheral vascular devices market is projected to achieve a valuation of USD 4.7 billion by the end of 2022, with anticipated growth at a compound annual growth rate (CAGR) of 6.6%. By 2032, the market is expected to expand to USD 8.9 billion, according to the latest study by Future Market Insights.

Peripheral vascular stents are a major driver of this growth, leading the market with a substantial share of approximately 78.5% in 2021. These devices play a critical role in the treatment of peripheral artery disease (PAD) and other vascular conditions, contributing significantly to the market’s expansion.

Crucial information and forecast statistics covered in the Peripheral Vascular Devices market report will arm both existing and emerging market players with necessary insights to craft long-term strategies as well as maintain business continuity during a crisis such as the ongoing COVID-19 pandemic.

Peripheral Vascular Devices Market: Competition Analysis

The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Peripheral Vascular Devices market. Competitive information detailed in the Peripheral Vascular Devices market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Peripheral Vascular Devices market report.

Key players covered in the report include:

  • Abbott Laboratories
  • Boston Scientific Corporation
  • Cook Medical Inc.
  • MicroPort Scientific Corporation
  • Medtronic Plc.
  • Cardinal Health, Inc.
  • Others

Important Questions Answered in the Peripheral Vascular Devices Market Report

  • Which end user remains the top revenue contributor in different regional markets?
  • At what rate has the global Peripheral Vascular Devices market been expanding during the forecast period?
  • How will the global Peripheral Vascular Devices market look like by the end of the forecast period?
  • What innovative strategies are adopted by Peripheral Vascular Devices market players to stay ahead of the pack?
  • What are the restraints affecting the growth of the global Peripheral Vascular Devices market?

Key Offerings of the Report

  • Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
  • Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
  • Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
  • Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
  • Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Peripheral Vascular Devices market

Peripheral Vascular Devices Market: Segmentation

Valuable information covered in the FMI’s Peripheral Vascular Devices market report has been segregated into key segments and sub-segments.

By Product:

  • Peripheral Vascular Stents
    • Self-Expanding Stents
    • Balloon Expanding Stents
    • Covered Stents
  • Drug Eluting Stents
  • Drug Eluting Balloons
  • Peripheral Vascular Bioresorbable Scaffolds

By Indication:

  • Target Artery Instability (TAI)
  • Access Artery Injury (AAI)
  • Peripheral Arterial Disease
  • Arteriovenous Fistulas
  • Peripheral Aneurysms
  • Others

By Artery:

  • Carotid Artery
  • Fem-Pop Artery
  • lliac Artery
  • Infrapop Artery

By End User:

  • Hospitals
  • Ambulatory Surgical Centers/Outpatients
  • Cardiac Catheterization Labs

Author By:

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
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Palliative Care Market Projected to Reach USD 17.73 Billion by 2034, Driven by Consumer Demand for Simplicity with a 2.8% of CAGR

Palliative Care Market
Palliative Care Market

According to the latest reports from Future Market Insights, the palliative care market is currently valued at USD 13.45 billion in 2024. The detailed analysis by our lead analyst highlights key trends and forecasts for the sector.

Palliative care producers are responding to consumer expectations by focusing on simpler labels and more understandable ingredients, which is expected to sustain and potentially boost demand in the coming years. As a result, the market is projected to reach a valuation of USD 17.73 billion by 2034, with a modest compound annual growth rate (CAGR) of 2.8% during the forecast period.

In response to consumer expectations, palliative care providers are increasingly focusing on simpler, more understandable labels and ingredients in their products, which continues to sustain demand. This trend is expected to drive the market’s gradual growth as healthcare providers focus on making palliative care more accessible and effective for patients.

Future Market Insights’ lead analyst provides a detailed analysis of this evolving healthcare market, highlighting the role of consumer preference in shaping the industry’s trajectory over the coming years.

The global market for palliative care is expected to flourish over the forecast period of 2017-2027 due to increasing awareness about physical, social and psychological, needs of patients with life-threatening diseases and their families. Majority of people receiving hospice care are the cancer patients, according to WHO.

Palliative Care Market: Region-wise Overview

Geographically, the global market for palliative care is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America is expected to take greater share in global palliative care market because of good reimbursement and insurance coverage for palliative care services. Countries like Mexico in the Latin American region have more number palliative care centers for children.

Some of the key players and healthcare service providers in global palliative care market are: Center to Advance Palliative Care (CAPC), UCLA Health, National Hospice and Palliative Care Organization, VITAS Healthcare, CHI Franciscan, University of Washington (UW Medical Center & UW Medicine), Seymour Health, KEHPCA (Kenya Hospices and Palliative Care Association) & others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaust analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Palliative Care Market: Segmentation

 

The global palliative care market has been classified on the basis of service type, end user and geography.

Based on service type, the global palliative care market is divided into following:

  • Private residence care
  • Hospice inpatient care
  • Hospital inpatient care
  • Nursing home and residential facility care
  • Others

Based on end user type, the global palliative care market is divided into following:

  • Hospitals
  • Home Care Settings
  • Palliative Care Centers
  • Long Term Care Centers & Rehabilitation Centers

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance

Key Segments Covered in the Palliative Care Industry Analysis

By Service Type:

  • Private Residence Care
  • Hospice Inpatient Care
  • Hospital Inpatient Care
  • Nursing Home and Residential Facility Care
  • Others

By End User:

  • Hospitals
  • Home Care Settings
  • Palliative Care Centers
  • Long-Term Care Centers & Rehabilitation Centers

By Region:

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

Author By:

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.

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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

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Energy Gel Product Market Poised for 7.6% CAGR Growth, Projected to Reach USD 1.41 Billion by 2034

The energy gel product market is evaluated to be sized at US$ 684.54 million in 2024. During the period from 2024 to 2034, the market is expected to progress at a promising clip, registering a CAGR of 7.6%. By 2034, the energy gel product market is anticipated to have reached US$ 1,412.23 million.

Growing Factor:

The sustained domination of the fruit flavour category, driven by different growth tactics across the energy gel market chain, is a key growth contributor. Furthermore, the chocolate segment’s ascent at a solid CAGR of 8.7% reflects its considerable market share and ongoing demand. These factors, combined with favourable regional dynamics in North America, Western Europe, Latin America, and Asia Pacific, contribute to the market’s rapid expansion.

“Popularity of energy gels among sports and fitness enthusiasts propel the global growth of the energy gel products market over the forecast period,” says an FMI analyst.

Key Takeaways:

  • Prevailing diet and fitness trends will strengthen the overall market prospects.
  • The fruit flavor segment is expected to generate a demand of US$ 592.2 Bn.
  • Orange fruit flavor subsegment will observe a 2x increase in valuation.
  • The chocolate segment will generate lucrative opportunities for growth.
  • The energy gel products market in North America will grow at 8.5% CAGR.
  • The energy gel products market in Japan will grow due to their high popularity and availability of a variety of products.
  • Health and fitness trends will drive the target market in the U.K.

Competitive Landscape

Advanced Food Concepts, Inc., Nutrition Works Ltd., Boom Nutrition Inc., Clif Bar & Company, EN-R-G Foods, LLC, Gatorade Company, Inc., Hammer Nutrition Ltd., Powerbar Inc., Zipvit Ltd., and Scientific Sports Nutrition (Pty) Ltd. among others are some of the major players in the energy gel products market profiled in the full version of the report.

Leading market players are focusing on strengthening their market position and their distribution channels by adopting various strategies like mergers and acquisitions. These enterprises are keen on developing their product lines, releasing new products, and expanding their capacity to gain a competitive edge.

According to the latest FMI reports, based on segmentation, the chocolate flavor segment is expected to grow at a CAGR of 8.7% while the orange fruit flavor segment will demonstrate a 2x increase during 2022–2032. In general, the fruit flavor segment is likely to dominate the energy gel products market, accounting for a demand of over US$ 592.2 Bn during the forecast period.

Based on region, the energy gel products market in North America is anticipated to present considerable growth due to the high awareness of health and fitness. The escalating number of sports enthusiasts in the United States further aids the growth of the energy gel products market in North America. The region, hence, dominates the market in the global space with a high CAGR of 8.5%. China, Japan, and the United Kingdom are some other countries that will exhibit notable growth during the forecast period.

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Energy Gel Products Market by Category-

By Flavour Type, Energy Gel Products Market is Segmented as:

  • Fruit
  • Orange
  • Strawberry
  • Raspberry
  • Lemon
  • Vanilla
  • Chocolate
  • Others

By Distribution Channel, Energy Gel Products Market is Segmented as :

  • Supermarket/hypermarket
  • Specialty Store
  • Online Store
  • 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 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
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Hydrolyzed Vegetable Protein Market Growth to Push Value Beyond USD 2.88 Billion by 2033

The global hydrolyzed vegetable protein market is predicted to reach a US$ 1,444 million valuations in 2023. Between 2023 and 2033, it is set to accelerate at a robust 7.2% CAGR. This should culminate in a market valuation of US$ 2,886 million in 2033.

Hydrolyzed vegetable protein is a product of the application of hydrolysis on sources of plant protein. It has the capacity to add a meaty taste to food products without the use of animal meat. Its use is common in the global food & beverage industry, and is likely to soar in the coming years.

The rising use of hydrolyzed vegetable protein is a result of a shift in preferences. Before hydrolyzed plant protein became popular, animal protein was the number one choice. However, in recent years, animal proteins have been criticized owing to their negative effects on health.

Proteins sourced of plants lack the harmful compounds of animal protein products such as saturated fat and cholesterol. This is the prominent factor driving the acceleration of the market for hydrolyzed vegetable protein. Increasing adoption of veganism and vegetarianism are also helping the development of the market.

The United States, the United Kingdom, and China are set to establish themselves as the leading markets for hydrolyzed vegetable protein. Across these countries, hydrolyzed vegetable protein companies are making their presence felt. New companies are also emerging and providing stiff competition to the established names.

According to Future Market Insights (FMI), granules are likely to emerge as the dominant segment on the basis of form. Based on product type, soy protein is set to generate significant demand owing to its benefits over other plant-based protein sources. In terms of distribution channel, FMI expects the direct channel to dominate the market between 2023 and 2033.

Key Takeaways from the Report:

  • Between 2018 and 2022, the market for hydrolyzed vegetable protein progressed at a CAGR of 6.8%.
  • Hydrolyzed vegetable protein sales reached a valuation of US$ 1,341.4 million in 2022.
  • The United States hydrolyzed vegetable protein market is set to expand at a steady CAGR of 6.2% between 2023 and 2033.
  • Soy protein is poised to dominate the market based on product type with a 32.9% share.
  • Direct distribution channels comprise of a 54.6% share in the global market.

“The only thing likely to hold back the acceleration of the market is the lack of studies regarding the potential of hydrolyzed vegetable protein to trigger allergies. If a conclusive study does prove that hydrolyzed vegetable protein does not trigger allergies, it would provide a substantial boost to the market.”-Says an FMI Analyst

Who is Winning?

Innovation in marketing is dominating the competitive landscape in the market for hydrolyzed vegetable protein. Players are also focusing on new product launches and acquisitions to strengthen their grasp on the global market.

Ajinomoto Co., Inc., Glanbia Plc, Tate & Lyle Plc., Cargill Inc., Puris Proteins LLC, DuPont de Nemours, Inc., Scoular, Fuji Oil Holdings, Inc., Innova Flavors, Wilmer International Limited, Axiom Foods, Inc., AMCO Proteins, Burcon NutraScience Corporation, and Roquette Fréres are the leading players in the market for hydrolyzed vegetable protein.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global hydrolyzed vegetable protein market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033. The study divulges compelling insights on the hydrolyzed vegetable protein market based on form (chunks, slice, flakes, granules), product type (soy protein, wheat protein, pea protein, rice protein, chia Protein, flax protein, corn protein), end use (household, commercial, industry, animal feed), and distribution channel (direct, indirect) across seven regions.

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Hydrolyzed Vegetable Protein Market by Category

By Form:

  • Chunks
  • Slice
  • Flakes
  • Granules

By Product Type:

  • Soy Protein
  • Wheat Protein
  • Pea Protein
  • Rice Protein
  • Chia Protein
  • Flax Protein
  • Corn protein

By End Use:

  • Household
  • Commercial
  • Industry
  • Food Industry
    • Snacks & Functional Bars
    • Ready Meals
    • Sports Nutrition
    • Clinical Nutrition
    • Baby Food
    • Meat Analogues/Meat Extenders
  • Animal Feed

By Distribution Channel:

  • Direct
  • Indirect
  • Hypermarket
  • Convenience Stores
  • Traditional Store
  • Online Retails

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:  

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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Oryzenin Market to Witness 8.2% CAGR Expansion, Projected to Reach USD 257.32 Billion by 2033

The oryzenin market is expected to reach US$ 116.48 billion in 2023 and US$ 257.32 billion in 2033. Between 2023 and 2033, the market is expected to register a CAGR of 8.2%. Due to its anti-allergenic and gluten-free status, oryzenin is a great protein for people with allergies or dietary restrictions. A variety of factors have caused oryzenin, a rice protein, to gain prominence in various markets.

Rice protein has also attracted attention due to a growing awareness of sustainable agriculture and the negative effects of conventional livestock farming on the environment. Planting rice generally reduces carbon emissions, which aligns with the eco-conscious consumer and business choices.

Food manufacturers have benefited from oryzenin’s versatility, particularly in the development of meat alternatives and dairy alternatives. In order to create a wide range of plant-based products, the formulation can be easily altered to adapt to a wide range of needs. Additionally, oryzenin is becoming a popular protein source in the sports and fitness industry. Plant-based proteins are poised for sustained growth as oryzenin continues to gain traction in various sectors.

The immune-boosting properties of oryzenin have been cited as one of its potential benefits. Consuming enough protein, including oryzenin, may help support the immune system. Protein plays a crucial role in supporting immunity. Yeast proteins, such as oryzenin, are hypoallergenic and gluten-free, so it is gaining traction as a plant-based protein source. In addition to dairy alternatives, meat alternatives, and baked goods, oryzenin is used in a wide range of other food and beverage products. As these products become increasingly popular, their demand for oryzenin increases as well.

Sustainability is a major concern for consumers, so oryzenin sourcing and production methods will likely become more sustainable in the future. Peas and soy as well as oryzenin’s price competitiveness may affect its market acceptance. Its potential uses in skincare products and nutraceuticals have also been recognized by the pharmaceutical and cosmetics industries. Consumers are becoming more interested in products containing oryzenin due to ongoing research and development efforts to enhance their taste and texture. In the coming years, oryzenin’s market is expected to grow as these factors become more pronounced.

Key Takeaways from the Market Study

  • FMI estimates that the isolates segment accounted for 30.2% of the market in 2022.
  • A market share of 35.6% is expected for the bakery and confectionary segment during the forecast period.
  • A 7.7% share of the market was held by the United Kingdom in 2022.
  • The United States market for oryzenin was responsible for a 28.6% share in 2022.
  • The oryzenin market in India accounted for a 9.5% CAGR in 2022.

“Natural protein sources and product innovation will drive demand for oryzenin. Plant-based diets and health and wellness awareness are expected to grow the market over the next few years,” opines Nandini Roy Choudhury, Client Partner at Future Market Insights. analyst.

Competitive Landscape

Due to the awareness of health and fitness and the availability of protein bars on the market, several market players are setting up manufacturing facilities in emerging economies. Increasing vegan diet demand along with rising middle-class income has fueled the growth of oryzenin consumption.

Market Developments

  • Axiom Foods offers Oryzatein – patented, allergen-friendly protein developed from rice grains, with 80% and 90% protein contents. Soy protein and whey protein can both be substituted for it. A complementary amino acid to obtaining complete proteins is being floated these days, called Vegotein Pea Protein.
  • Bioway (Xi’an) Organic Chemicals Co. Ltd. is a leading manufacturer of organic food/sports supplements, as well as an organic ingredient manufacturer and trader is one of the leading suppliers of oryzenin.

More Valuable Insights Available

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

To understand opportunities in the oryzenin market, the market is segmented on the basis of Product Type (Isolates, Concentrates, Others), Application (Sports & Energy Nutrition, Beverages, Bakery & Confectionery, Meat Analogs & Extenders, Dairy Alternatives) Function (Emulsifying, Texturizing, Gelling, Others) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa).

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Segmentation Analysis of the Oryzenin Market

By Product Type:

  • Isolates
  • Concentrates
  • Other Type

By Application:

  • Sports & Energy Nutrition
  • Beverages
  • Bakery & Confectionery
  • Meat Analogs & Extenders
  • Dairy Alternatives

By Function:

  • Emulsifying
  • Texturizing
  • Gelling
  • Others

By Form:

  • Dry
  • Liquid

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and the Pacific
  • East Asia
  • 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 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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Non-Fat Dry Milk Market Forecasted to Grow at 3.1% CAGR by 2033, Says FMI

The non-fat dry milk market is anticipated to expand steadily between 2023 and 2033, with a predicted CAGR of 3.1%. The estimated market worth is expected to rise from US$ 8.4 billion in 2023 to US$ 11.3 billion by 2033.

This development can be attributed to several crucial factors shaping market dynamics. Non-fat dry milk finds extensive application in the expanding market for functional foods and beverages due to its adaptability and ability to enhance nutritional value. The increasing popularity of plant-based diets has also driven the growth of non-dairy alternatives like non-fat dry milk, providing consumers seeking lactose-free or vegan products with a viable choice.

With increasing health and nutrition awareness, consumers are actively seeking low-fat or non-fat food options. Non-fat dry milk provides a viable solution for those who want to reduce their fat intake while still enjoying the benefits of dairy products. This health-conscious trend contributes to the higher adoption of non-fat dry milk, benefiting the market.

The longer shelf life of non-fat dry milk makes it an attractive choice for food manufacturers looking to improve their product’s stability and reduce waste. This advantage allows manufacturers to stock up on non-fat dry milk and plan production schedules more efficiently, leading to cost savings and enhanced supply chain management.

The ease of reconstituting non-fat dry milk into liquid milk offers flexibility to food manufacturers. They can use it as an ingredient in various applications without the need for fresh milk, which might have limited availability or require specialized storage and handling. This versatility encourages greater adoption of non-fat dry milk in diverse food products, further driving market growth.

Key Takeaways

  • United States Leads the Pack: With a commanding 30.4% market share, the United States dominated the non-fat dry milk industry in 2022. This product’s popularity stems from its adaptability, extended shelf life, and the increasing customer preference for healthier dairy alternatives. As a result, there is a high demand for this product across the nation, reinforcing its strong market position.
  • Germany Displays Strong Development: With an 8.6% market share in non-fat dry milk in 2022, Germany is on a solid development trajectory. The nation’s commitment to producing environmentally friendly and high-quality dairy products has contributed to the steady growth of this market. Additionally, the increasing trend of using non-fat dairy alternatives in various food applications further fuels the demand for these products in the country.
  • Japan Investigates Non-fat Options: Japan’s 4.1% market share in 2022 indicated a surging interest in non-fat dry milk. The demand for low-fat products is on the rise in Japan as consumers increasingly prioritize healthy options and actively seek dairy substitutes. This trend is consistent with the nation’s changing food culture and the pursuit of healthy eating practices.
  • Health Awareness Fuels Demand in Australia: Australia’s 2.3% market share in 2022 showcases the nation’s strong inclination towards health trends, reflected in the growing demand for healthier dairy products like non-fat dry milk. With health-conscious customers on the rise and an increasing preference for low-fat and non-fat goods, the country’s demand for non-fat dry milk is steadily increasing.
  • Potentials are Visible in China and India: With a CAGR of 2.5% and 3.8%, respectively, China and India show great potential for non-fat dry milk. These developing markets are observing a change towards better dietary options, such as low-fat dairy substitutes. In the coming years, both China and India hold significant promise for non-fat dry milk producers, driven by their large populations and increasing disposable incomes.

Competitive Landscape

The non-fat dry milk industry is moderately competitive, driven by several significant factors. One key aspect is the continuous market expansion, which attracts new players and intensifies competition among existing ones. As the demand for functional foods and beverages grows, the significance of non-fat dry milk as a crucial component further amplifies the competitive environment.

Cargill

A global leader in agricultural goods and food ingredients is Cargill. They provide various non-fat dry milk products in high, medium, and low heat options. Due to their large product selection, global presence, and dedication to quality, Cargill is a formidable rival.

FrieslandCampina

Dutch dairy cooperative FrieslandCampina is based in the Netherlands. They are among the biggest dairy producers in the world and provide a variety of non-fat dry milk. Due to its great brand recognition, a wide range of products, and dedication to sustainability, FrieslandCampina is a formidable rival.

Lactalis

The dairy manufacturer Lactalis is based in France. They are among the biggest dairy producers in the world and provide a variety of non-fat dry milk. Due to their large product selection, global presence, and dedication to quality, Lactalis is a formidable rival.

Arla Foods

A Danish dairy cooperative, Arla Foods. One of the biggest dairy enterprises in Europe, they provide a variety of non-fat dry milk. Due to its well-known brand, a wide range of products, and dedication to sustainability, Arla Foods is a formidable rival.

Key Developments

  • In August 2021, Aadvik Foods, the pioneering brand in India that introduced the camel milk industry, unveiled a new product: Donkey non-fat dry milk. By adding this product to its portfolio, the company enhances its distinctive range, which already includes raw camel milk powder, frozen camel milk, goat milk powder, frozen goat milk, and more.
  • In May 2021, Lactalis Ingredients broadened its milk powder selection by introducing a fresh addition – organic whole, non-fat dry milk. This milk is sourced solely from French dairy farms that adhere strictly to the standards of organic farming. These stringent organic specifications ensure a product that is entirely free from neutralizing agents, antibiotics, preservatives, and other additives.

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Non-Fat Dry Milk Market By Category

By Product Type:

  • High-heat
  • Medium-heat
  • Low-heat

By Sales Channel:

  • Modern Trade
  • Traditional Grocery Store
  • Convenience Stores
  • Online Channels
  • Direct Sales

By Application:

  • Home Reconstitutions
  • Dairy Whiteners
  • Bakery and Confectionery
  • Desserts
  • Ice-cream
  • Dairy Blends
  • Snacks
  • Nutritional Supplements

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • 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 5000 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