Market Research Blog

The vegan food industry has witnessed spectacular gains in the past few years, owing to increasing realization amongst consumers about the perceived ill-effects on human health as a result of excessive animal based food products. The popularity of plant-based confectionery is an interesting trend in this regard. Bouyed by these factors, Future Market Insights (FMI), in its recently published study, opines that global vegan marshmallows market will grow at over 8% through 2028.

The Vegan Society estimates that demand for plant-based meat alternatives surged by nearly 1000% across the U.K in 2017, while 62% of the population purchased plant-based milk in 2020. Such trends are generating credible expansion possibilities for prominent vegan marshmallow manufacturers.

The surging demand is also attributed to increasing preference for clean label and GMO free foodstuffs. High preference for halal and kosher food items is prompting confectionery giants to offer vegan alternatives.

Key Takeaways

• Global vegan marshmallows market to exhibit value CAGR exceeding 8% through 2028
• Premium vegan marshmallows to generate over half of the revenue share by 2020-end
• Vanilla and peppermint top-selling flavors
• Health & wellness stores to register remarkable growth, expanding at a staggering 10.4% CAGR across the forecast period
• North America to remain the dominant vegan marshmallows market, surpassing US$ 100 Mn by 2020-end

“Increasing demand for clean-label certifications, including halal and kosher, across prominent regions is motivating vegan food manufacturers to introduce plant-based marshmallows with unique flavor combinations, positively driving market growth,” says the FMI analyst.

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COVID-19 Impact Analysis

The novel coronavirus pandemic has ushered in a sea change in consumers’ dietary preferences, with sales of plant-based and vegan foodstuffs spiking across all continents. Growing apprehensions about possible infection contraction through zoonotic channels have compelled consumers to abandon meat consumption and choosing safer alternatives.

This precautionary behavior has also penetrated the marshmallows market, with prominent manufacturers augmenting production of different flavored vegan marshmallows. According to a Veganuary survey, 32% of participants revealed that they were consuming more vegan foods across the UK, US, Latin America and Germany since the pandemic’s outbreak.

Hence, the prospects for vegan marshmallows has been broadening since the past several months. The market is expected to further aggrandize in the upcoming forecast period, with consumers expected to rely largely on clean-label and naturally derived foods way after the pandemic has subsided.

Competitive Landscape

The global vegan marshmallows market is characterized by the presence of various prominent vegan product manufacturers who are effectively leveraging the prevailing clean-label products consumption trends to flood regional markets with innovative flavor combinations.

Some leading players profiled in FMI’s vegan marshmallows market research report include Freedom Confectionery, Chicago Vegan Foods, Mr. Mallo Group, The Naked Marshmallow Co., Ananda Foods Ltd. & The Marshmallowist among others.

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More Insights on FMI’s Vegan Marshmallows Report

Ingredient

• Vanilla
• Pumpkin
• Peppermint
• Chocolate
• Others

Distribution Channel

• Hypermarkets/Supermarkets
• Convenience Store
• Drug Stores & Pharmacies
• Health & Wellness Stores
• Online Retailing
• Other Retailers

Pricing

• Economic
• Premium

Region

• North America (U.S & Canada)
• Latin America (Brazil, Mexico, Argentina & Rest of Latin America)
• Europe (EU-4, U.K, BENELUX, Russia, Poland & Rest of Europe)
• APEJ (China, India, ASEAN, Australia & New Zealand, South Korea & Rest of APEJ)
• Japan
• Middle East & Africa (GCC, South Africa & Rest of MEA)

A recent study by Future Market Insights (FMI) opines global vegan supplements market is set to growth at 10.9% CAGR between 2020 and 2028, supported by a growing base of vegan and vegetarian consumers. The rise of the conscientious consumer has led to new opportunities for vegan supplement market players.

Plant-based diets reduce the risks of cancers, coronary disease, diabetes and other lifestyle-based ailments. Also, efforts towards sustainable food production management and ethical consideration in terms of sourcing animal-based ingredients are likely to bolster demand for plant-based product offerings.

As governments set up favorable policies towards plant-based diets, FMI opines bullish prospects for the vegan supplements market.

Key Takeaways

• Surge in demand for botanical ingredient sources owing to clean label trends
• Online retail distribution channels to gain traction as people look to minimize risks
• Demand for vegan supplements in capsule form continues to grow
• Europe maintains its position as the most lucrative market globally

“Varied advantages associated with vegan supplements including lower toxicity, superior bioavailability, and natural smell & flavor is expected to bolster the vegan supplements market through the forecast period,” says an FMI analyst.

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COVID-19 Impact Analysis

Sales of vegan supplements through online channels has picked up since early 2020, following the outbreak of the coronavirus outbreak. On the other hand, sales from brick-and-mortar outlets have witnessed a moderate drop. OTC offerings are expected to witness higher demand with higher levels of health consciousness driving the demand for immunity-boosting offerings.

This trend is also contributing to increasing adoption of plant-based diets, which will contribute to long term growth in the post pandemic era. Revenue from the vegan supplements market is expected to continue growing as lockdown restrictions are eased, with growing sales coming out of sports nutrition applications.

Who is Winning?

The vegan supplements market is largely competitive and fragmented. Key market players are increasingly focused on product development and launch strategies aimed towards bolstering product portfolios and geographical expansion.

Market leaders include General Mills Inc., Garden of Life, Danone S.A., PepsiCo Inc., Blue Diamond Growers Inc., ALOHA, NuGo Nutrition, One Brands, BHU Foods, and G&G Foods among others.

FitLivings in December 2020 introduced its Okinawa Flat Belly Tonic, which is a non-GMO, vegan friendly, powder-based supplement for consumers in the United States.

HealthyCell a leading dietary supplement company has entered into a partnership with KeHE for the distribution of its Vegan Essentials range of products, which comprises a proprietary gel delivery system.

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More Valuable Insights on Vegan Supplements Market

Product Type

• Powder
• Liquid
• Capsules
• Bars
• Others

Ingredients

• Vitamins & Minerals
• Amino Acids
• Botanical Supplements
• Others

Distribution Channel

• Hypermarkets/Supermarkets
• Convenience Stores
• Drug Stores & Pharmacies
• Health & Wellness Stores
• Online Retailing
• Others

Region

• North America (U.S. & Canada)
• Latin America (Mexico, Brazil, & Rest of LATAM)
• Europe (Germany, U.K., France, Italy, Spain, BENELUX, Russia, & Rest of Europe)
• Middle East and Africa (GCC Countries, South Africa & Rest of MEA)
• Japan
• Asia Pacific excluding Japan (China, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand & Rest of APEJ)

About Food Market Division at FMI

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

The sales of functional, probiotic foods, and beverages in recent years have risen substantially owing to higher prevalence of health awareness among consumers. Changing dietary behaviors and the increasing popularity of ready-to-eat foods have been fuelling the demand for citrus yogurt, finds Future Market Insights (FMI) in a new study.

Citrus yogurt manufacturers are increasingly leveraging the potential of their offerings as potential alternatives to ice creams and food spreads, while also focusing on strategies towards product launches and geographical expansion.

According to the U.S. Dairy Export Council, the global fermented beverage and drinkable yogurt sales have grown with a 12% CAGR since 2015. In a recent market study, Future Market Insights (FMI) has stated that the global citrus yogurt market surpassed US$ 1.9 Bn in 2020.

As per the Food and Agriculture Organization of the United Nations, 6 billion people globally consume milk and milk products. However, the vast base of lactose intolerant consumers will generate long term opportunities for non-dairy citrus yogurt products for years to come.

Key Takeaways

• Dairy-based citrus yogurt is estimated to hold major market share. However, plant-based alternatives are estimated to display a stronger growth rate through 2028.
• Sales through hypermarket/supermarket channels will remain dominant, owing to sophisticated and robust supply chains.
• Conventional formulations will hold the lead over organic options, accounting for close to 90% through the forecast period.
• Asia Pacific excluding Japan is a dominant regional market, which is projected to grow to more than 38% of the overall market share by 2028.

“In a fairly fragmented citrus yogurt market, companies are adopting diverse strategies to carve a niche. While product launches remain key focus, some of the market players are focusing efforts toward expansion to strengthen their foothold. To woo consumers there is immense focus on launching additive free products, which will bode well for the market in the coming years,” said a lead analyst at FMI.

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COVID-19 Impact Analysis

The COVID-19 pandemic has resulted in significant changes in the food preferences of consumers around the world. Concerns over health, immunity, and transmission of the virus have bolstered the demand for health foods including probiotic products such as flavored yogurt.

The availability of high-protein product offerings in the sector is a major factor that is likely to drive demand in the short term. Also, plant based variants of citrus yogurts are expected to gain traction through the crisis.

Also, higher demand for RTE foods and, changes in consumer spending habits aimed towards essentials including food and beverage purchases will positively influence the growth of the citrus yogurt sector in the short term.

Who is Winning?

The citrus yogurt market is fairly fragmented and characterized by the presence of small and mid-scale manufacturers. Leading market players are effectively widening product portfolios for long term growth with a focus on natural and clean label ingredients.

Some of the leading players in the citrus yogurt market include General Mills Inc., Kite Hill, Danone S.A., Forager Project LLC, The Hain Celestial Group Inc., Chobani LLC, Nestle S.A., and Daiya Foods Inc. among others.

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More Valuable Insights on Citrus Yogurt Market

Product Type

• Dairy
• Non-Dairy

Form

• Drinkable
• Spoonable

Nature

• Organic
• Conventional

Distribution Channel

• Food Service (HoReCa)
• Hypermarket/Supermarket
• Convenience Store
• Food & Drink Specialty Stores
• Online Retail
• Others

Region

• North America (U.S. & Canada)
• Latin America (Mexico, Brazil, Argentina & Rest of LATAM)
• Europe (EU-4, U.K., Russia, Benelux, Poland and Rest of Europe)
• Japan
• Asia Pacific excluding Japan (China, India, ASEAN, South Korea, Australia, and New Zealand,)
• Middle East & Africa (GCC countries, South Africa, and Rest of MEA)

Clean label pectin is used as a primary ingredient in various food applications such as jams, jellies, sauces, fruits spreads, chews, bakery fillings, juices, toppings, sugar confectionery, fermented dairy products, and plant based products. Driven by the increasing application as stabilizer, the clean label pectin market is forecast to rise at nearly 7% CAGR between 2021 and 2031. Future Market Insights (FMI) presents a positive outlook for the market in its study as focus on healthy eating continues to rise around the world.

Consumers in general have become more curious about the source of the raw material and production methods used for processing various food products. A few of the production methods are observed as less ‘natural’ while some food ingredients are considered as ‘unhealthy’ and ‘unfamiliar’.

The ‘clean label’ trend is expected to have considerable influence on the food industry especially since consumers have become more interested in ingredients used in their food. There is clear inclination for more ‘natural’ methods of production using ingredients derived from organic or natural sources. According to FMI, citrus fruits are highly sought-after sources of clean label pectin. In fact, citrus fruits made for over 43% of clean label pectin produced in 2020.

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Key Takeaways from Clean Label Pectin Market Report

• Clean label pectin market will exhibit 5.8% y-o-y growth in 2021, registering 0.3% improvement than growth recorded last year
• Increasing focus on healthy eating seals America’s dominance. The U.S. to account for a little below 85% of sales recorded in North America
• U.K. emerges as a key market within Europe, exhibiting over 8% y-o-y growth in 2021
• Rising focus on health and wellness to continue driving sales in Germany and France
• While China will continue dominating sales in East Asia, both Japan and South Korea are forecast to register higher rate of growth

“Consumers are likelier to check ingredients list on a food product to ascertain if it is sustainable and environment-friendly. Smaller manufacturers see this as a lucrative opportunity to establish their brand presence in a highly competitive landscape.  With focus on end-to-end clarity rising, more companies are jumping into the clean-label bandwagon, irrespective of their size. Spurred by this, clean label pectin producers will gain from increasing application within the food industry,” said a lead analyst at FMI.

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Demand from Pharmaceutical Industry Poised to Surge

Clean label pectin market is anticipated to register increasing demand from the pharmaceutical industry. Gelling property of clean label pectin has been increasing its use in making gel beads, film coated dosage, and matrix tablets. Clean label pectin is mainly used for medicine for diarrhea, throat lozenges and constipation. It also is used in nutritional and health products which help in weight loss, strengthens skin and hair, enhance iron absorption, and improve heart health.

Increasing Demand for Organic and Clean Label Food Will Accelerate Sales

Consumers are shifting towards healthy, high vitamin, nutrient rich food and avoiding foods with artificial flavour, colour, GMO levels and preservatives. Increasing health awareness and high demand for low sugar fruit products will drive the clean label pectin market. Consumer inclination toward natural and organic food is persistent rising due to rising health consciousness and it is accelerating the growth of clean label pectin. Due to rising demand for organic and clean label products, key players of clean label pectin market are focusing on launching unique clean label pectin products in the market.

For instance,

• In 2020 CP Kelco introduced GENU Pectin YM-FP-2100, a clean label ingredient that provides a medium-to-high viscosity in the fruit drinking yogurt and with ease of pump ability at the fruit prep stage.
• In 2018, DuPont Nutrition & Health launched and developed GRINDSTED Pectin PRIME 541, product which allow food producer to make new tempting reduced-sugar fruit spread and without processing hurdles.

Who is Winning?

Some of the key players operating in the clean label pectin market are CP Kelco, Cargill, Inc, Herbstreith & Fox, Royal DSM, DuPont Nutrition & Health, Brenntag North America, Inc., Silvateam Food Ingredients, Lucid Colloids Ltd. and many more. In order to gain competitive advantage, market players have been focusing on expansion via merger and acquisition strategies. Besides this, product launches are undertaken to strengthen their footprint.

For instance,

• In 2020 Herbstreith & Fox (H&F Group), a producer of pectin base in Germany acquired pectin buisness from Givaudan SA (Switzerland) part of the Naturex portfolio.
• In 2018, Brenntag North America Inc. entered into partnership with Silvateam for the extensive distribution of pectin in the Canada and United States.
• In 2019, CP Kelco launched a new product line, NUTRAVA citrus fiber it is a clean label ingredient which is derived from peels of citrus fruits.

Get Valuable Insights into Clean Label Pectin Market

By Product type

• High methoxyl
• Low methoxyl
  • Amidated (LMA)
  • Non-amidated

By source

• Citrus food
  • Orange
  • Lemon & lime
  • Tangrient and mandarins
  • Grapefruit
• Apple
• Pear
• Plum
• Banana
• Others (Berries)

By end use application

• Fermented Plant based products
• Fermented dairy products, including yoghurt
• Jams
• Jellies
• Chews
• Fruit Spreads
• Sugar Confectionary
• Fruit roll ups
• Fruit Preparations
• Bakery Fillings
• Glazes
• Sauces
• Toppings
• Ripples
• Compotes
• Juices
• Reduced- Sugar beverages

By Region

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

Global lactose demand is set to expand at nearly 4% in 2021, as burgeoning focus on health and wellness create substantial opportunities. While demand for powdered lactose will remain higher than granular lactose, the latter is set to grow at a higher rate. US will continue to be the largest market, however, lactose manufacturers can expect growing opportunities in Latin America and Asia Pacific. These insights are according to the latest edition of the study, conducted by ESOMAR-certified research and consulting firm, Future Market Insights (FMI).

Used as a filler or filler binder in the manufacturing of drugs and capsules, the pharmaceuticals domain has emerged as a lucrative application area for lactose-based products. Developing advanced manufacturing processes and technological innovations in industry to produce quality lactose that are consistently safe and effective has fuelled lactose production worldwide.

In recent years, hundreds of supply shortage incidences have been reported and hence leading to the expansion of advanced technology production facilities will accelerate production capacity and narrow down the supply-demand gap. The ongoing expansion of production facilities with advanced technology accelerates the consumption of lactose and is expected to lead to market growth across the globe.

Key Takeaways

• Lactulose to emerge as the lucrative derivative type, accounting for nearly 30% sales
• United States will continue to account for significant market share among all countries
• Powdered form lactose will continue to outsell lactose in granule form
• Food industry will be the mainstay for lactose demand, but opportunities in animal feed are growing
• UK lactose to mimic broader consumer trends in Europe
• Lactose market players in Japan and South Korea target novel applications

“While food and beverage industry has accounted for bulk of the demand, market players are exploring applications in animal feed and personal care industry ” said a lead analyst at FMI

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Competitive Landscape

Emerging nations represent an exceptional opportunity for the lactose industry. Players are making significant investments to penetrate the untapped markets through affordable offerings. Key stakeholders in the lactose market have commenced significant revamps to their strategies in emergent countries and purpose is to increase access to their products.

In recent years, lactose market has witnessed product launches with the development of lactose by key manufacturers in order to increase their market share globally. Companies are coming up with various lactose based ingredient and derivatives for application in various segments.

• In 2015, Meggle one of key player of lactose, launched triple compound pharma grade lactose CombiLac®, specifically designed to ease oral solid dosage.
• In 2019, Kerry announced to launch Aero Flo brand for inhalation lactose grade. Brand named Aero Flo® for inhalation grades of lactose have been explicitly developed for usage in dry powder inhalers for pulmonary delivery of pharmaceuticals.

Who is Winning?

Some of the key players operating in the lactose market are, Armor Pharma, Avantor, Inc., Ba’emek Advanced Technologies Ltd (Tnuva Group), BASF SE, Davisco Foods International, Inc., DFE Pharma (JV of Royal FrieslandCampina & Fonterra Ltd.), Hilmar Ingredients, Hoogwegt Groep B.V., Kerry plc., Lactose (India) Limited, Merck KgaA, Milei Gmbh, Molkerei MEGGLE Wasserburg GmbH & Co. KG and other players.

Key players are focusing on partnership in order to gain larger market share and to capture new geographical areas to get access to new markets.

• In 2019 LBB Specialties announced that it has signed a strategic partnership deal with Meggle for the distribution of Meggle’s Pharmaceutical Lactose excipients, including lactose for inhalation formulations, in the United States.
• In 2019, MEGGLE Excipients & Technology signed an agreement with Quadra Chemicals Ltd., a leading chemical and ingredient distributor, to represent its lactose excipient portfolio for the pharmaceutical and nutraceutical industries in Canada.

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Get Valuable Insights into Lactose Market

Key Segment

Form

• Powder
•  Granule

End Use

• Food and Beverage
  • Bakery
  • Confectionery
  • Functional Food
• Pharmaceutical
• Animal Feed

Derivative Type

• Lactose Monohydrate
• Galactose
• Lactulose
• Lactitol
• Other (tagatose, lactobionic acid)

Region

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

Increasing consumption of processed food besides the expansion of bakeries and confectioneries are among key factors fuelling the demand for food emulsifiers. According to a new study by Future Market Insights (FMI), the food emulsifiers market is forecast to reach US$ 3.30 Bn by 2021. Demand for effective preservative ingredients in the food sector has remained a constant trend. It has been enabling growth in the market and will continue aiding overall expansion especially as application in processed food and bakeries rises consistently.

FMI has forecast the processed food segment to continue dominating the market through the course of the report’s forecast period, starting from 2021 to 2031. It is expected to account for nearly one-fourth of food emulsifiers sold over the assessment period.

Today, food emulsifier gaining high momentum in the manufacturing of food products due to its desirable qualities that help in preservation of processed and convenience food, besides making them more appealing. The growing market for convenience and processed food is backed by hectic lifestyles, deskbound jobs, increasing women workforce, and socio-cultural aspects. These aspects of changing lifestyle have contributed towards reshaping consumers’ eating habits.  A shift away from three square meals eaten at the family table towards round-the-clock snacking is pushing manufacturer towards adoption of food emulsifier in order to cater supply/demand gap for processed food formats.

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Moreover, manufacturers are also focused on developing novel emulsifier solutions that are capable of reducing calorie content in food products. The market is seeing an increasing number of research and development centres coming up across globe. Companies are trying to expand their production and business footprint by acquiring key companies in the emulsifier segment.

The FMI study delves deep into the prevailing dynamics to offer interesting insights into the food emulsifier market. Some of these are:

• Food emulsifiers market will continue exhibiting steady rate of growth through 2031. FMI projects the market to showcase 4.4% Y-o-Y growth in 2021
• The U.S. will emerge as a chief market globally and account for 88.8% of North America market based on volume in 2021
• The U.K. will exhibit 0.9% Y-o-Y growth in 2021 in terms of volume
• Germany and France to continue offering lucrative growth opportunities
• Japan and South Korea to emerge as attractive markets, however, China will continue leading the East Asia market through forecast period

“Innovation in food products is expected to create remarkable growth opportunity for market players in the years to follow. Also, a broader consumer base for healthy fast food is contributing to the growth of the global market” said a lead analyst at FMI

Who is winning?

Some of the leading companies operating in the market are BASF SE, Adani Wilmar Limited, Archer Daniels Midland Company, Cargill Inc, Dow Corning Corporation, E.I Dupont De Numours and Company, Evonik Industries AG, Ingredion Incorporated, Kerry Group Plc, Koninklijke DSM N.V., and others. Some of these companies are focusing on acquisition as key strategy to gain competitive advantage.

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For instance, in January 2017, Palsgaard acquired a major stake Candon Aditivos para Alimentos, which is a Brazilian ingredient company and supplier of bakery emulsifiers.

Get Valuable Insights into Food emulsifier Market

Food Emulsifiers Market – Key Segments

Product Type

• Lactic esters of fatty acids
  • Sodium stearoyl lactylate
  • Sodium behenoyl lactylate
  • Sodium isostearoyl lactylate
  • Sodium lauroyl lactylate
• Lecithins
• Mono & di-glycerides of fatty acid
• Esters of monoglycerides of fatty acid
• Polysorbates
• Polyglycerol Esters
• Polyglycerol Polyricinoleate
• Others

Nature

• Natural
• Synthetic

Form

• Fine Powder
• Hydrate

End-Use

• Bakery
• Confectionery
• Beverages
• Dairy Products
• Processed Food
• Others

Region

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• MEA

About Food Market Division at FMI

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

Increasing application in dietary supplements will drive omega-3 ingredients market. According to a new study by Future Market Insights (FMI), the market is projected to reach US$ 5.9 Bn by 2021. The study forecasts the dietary supplements segment to account for over 47% of the sales in terms of value in 2021. Rising focus on health and wellness is expected to bode well for the market

According to Food Marketing Institute, 44% of adults do not consume fish or any kind of seafood frequently or occasionally that makes the diet lack omega-3 ingredients. This gives manufacturers of omega-3 ingredients a great opportunity to fulfill dietary requirements.

Omega-3 ingredients can be extracted from various sources for instance animal source (algal, fungus oil, fish oil and krill oil) and plant sources (chia seed oil, sunflower oil, flax seed oil, hemp, soybean oil, canola oil, primrose oil, and camelina oil). Manufacturers are investing heavily in discovering novel source of omega-3 ingredients to gain competitive advantage.

Key Takeaways from the Omega-3 Ingredients Market Study

• Omega-3 ingredients market is expected to register nearly 10.9% CAGR between 2021 and 2031
• The U.S. will emerge as an attractive market, accounting for 78% of sales in North America
• The EU5 has been exhibiting exceptional growth opportunities. FMI forecasts it to register nearly 10% Y-o-Y growth in 2021
• Benelux and Nordic markets also will exhibit impressive growth within Europe market
• China and India will continue exhibiting high demand for omega-3 ingredients

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“Manufacturers are focusing on improving production processes to meet high quality standards. Continuous research & development initiatives undertaken by market players are aimed at discovering alternate sources of omega-3 ingredients,” said a lead analyst at FMI.

Rising Vegan Population Fuelling Demand for Plant-Based Omega-3 Ingredients

A vegan diet does not include two essential omega-3 ingredients in their diet i.e., EPA and DHA as these are primarily derived from animal sources such as fish. As the vegan population is growing rapidly owing to increasing awareness, manufacturers are focusing on the production of omega-3 ingredients from the plant as the source. Manufacturers are striving to discover more such plant sources for omega-3 ingredients for supporting this growing segment of the population.

Rising Focus on Health Fuelling Demand for Omega-3 Ingredients

The increasing concern about health and wellness among the consumers has been fuelling the demand for nutraceutical and dietary supplements. Frequent product launches with multiple health benefits of omega-3 ingredients are among key market trends.

Europe currently holds around 37.0% of the global market. The rising incidence of various chronic ailments has been fuelling the demand in the U.S. Besides this increasing awareness about the health benefits of omega-3 ingredients has been spurring growth in Asia Pacific and the Middle East and Africa.

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Who is winning?

A few of the leading players operating in the omega-3 ingredients market are Croda International Plc, Omega Protein Corporation, Koninklijke DSM N.V., Cargill Inc., Epax Norway AS, GC Rieber Oils AS, Pharma Marine AS, Copeinca ASA, Arista Industries Inc., Polaris Nutritional Lipids, Clover Corp. Ltd., Marine Ingredients LLC, Barleans Organic Oils L.L.C., Algaecytes Limited, Qualitas Health, Cellana, Inc., Qponics Limited, BioProcess Algae, LLC, Luhua Biomarine (Shandong) Co., Ltd, Denomega Nutritional Oils, and other players.

Manufacturers of omega-3 ingredients are also strengthening their technology portfolio to improve quality of their products.

• For instance, Omega Protein Corporation in 2017 has partnered with the Science Center for Marine Fisheries (SCeMFis), a cooperative research center for the production of omega-3 ingredients. Sensing the rising demand for omega-3 ingredients manufacturers are also increasing production quantity.
• In January 2019, Cargill launches omega-3 ingredients for fish feed as they spot greater potential for farmed fish. Cargill is further developing supply chain for effective distribution of these omega-3 ingredients
• In January 2019, Croda International Plc acquired Brenntag Biosector to strengthen its pharmaceutical offerings.

Get Valuable Insights into Omega-3 Ingredients Market

Ingredients

• Alphalinolenic Acid
• Eicosapentaenoic Acid
• Docosahexaneoic Acid

Source

• Animals
  • Fish Oil
  • Algal Oil
  • Others
• Plants
  • Chia Seed Oil
  • Flax Seed Oil
  • Soybean Oil
  • Canola Oil
  • Walnut Oil
  • Mustard Oil
  • Others

Application

• Food Industry
  • Dairy Desserts
  • Bakery & Confectionery
  • Savory Snacks
  • Breakfast Cereals
  • Others
• Beverage Industry
  • Functional Drinks
  • Juices
  • Others
• Dietary Supplements
• Infant Formulas
• Pharmaceutical & Nutraceutical Industry
• Animal Feed

Region

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

Summary

Omega-3 ingredients such as eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), and alpha-linolenic acid (ALA) are long-chain fatty acids that are essential for maintaining good health. Eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA) are precursors for a group of eicosanoids such as thromboxanes, prostaglandins, and leukotrienes which plays an essential role in anti-inflammation, antithrombotic, antiarrhythmic, and vasodilation. According to the inclination of consumers, omega-3 ingredients can be extracted from animal-based as well as plant-based sources.

About Food Market Division at FMI

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

Alternative flours are gaining traction especially since they are known to offset disadvantages of traditional whole wheat or wheat flour. According to a new study by Future Market Insights (FMI), the green banana flour market is set to reach US$ 435.7 Mn by the end of 2021. The rising demand for improved nutritional value in food along with new flavors, textures and aromas, among consumers are enabling sales in the market.

Green banana flour is trending as a gluten-free ingredient for the food industry, which in turn is creating opportunities for key players to capitalize on. Changing buyers values have led to seek more nutrition from natural and high-quality food sources with clean labels. With consumers seeking healthier options, it is seen that these products have appeal across a broad spectrum of potential buyers.

Driven by consumers’ piqued interest, green banana flour is now being made available in a particular flavor or a combination of other fruit flavors. According to FMI, the demand for conventional green banana flour is remarkably high and it is expected to account for over 95% sales in 2021.

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Key Takeaways from the Green Banana Flour Market Study

• Green banana flour market is expected to register 4.6% Y-o-Y growth in 2021
• The U.S. will emerge as a highly attractive market, accounting for over 85% of sales in North America in 2021
• Exhibiting above 6% Y-o-Y growth in 2021, the U.K. will emerge as an attractive market for green banana flour within Europe
• The demand from Germany and France too is forecast to rise at an impressive pace
• Within East Asia, China will exhibit strong growth, followed by Japan and South Korea

“The food industry is actively developing palatable products, allowing people with allergies to gluten and wheat enjoy breads, baked goods, pasta, and other food items made using processed flour. This has been one of the crucial drivers of green banana market. Green banana flour has a very mild raw banana taste; it also has a lighter wheat flour-like texture and needs around 25 % low volume, making it a strong wheat flour substitute, which will continue aiding sales through the forecast period,” said a lead analyst at FMI.

Quality Concerns Pertaining to Food Enabling Green Banana Flour Sales

Rising concerns regarding quality of food products, along with growing awareness about health & wellbeing, are pushing consumers to increasingly opt for healthy and organic products Green banana powder is being sold in its retail format for household purposes in large quantities. Growing purchasing power and increased opportunities for women in the workforce have resulted in less time for home cooking, and higher demand for processed or prepared foods. As a result, there is a rise in consumer expenditure on grocery retail and food.

Not only is it a must for those with gluten allergies to use substitute flours, but it’s also a perfect choice for many recipes to add nutrients. Green banana flour is lower in calories than all-purpose flour at only 100 calories per 1⁄4 cup, which essentially helps minimize the total calorie count without losing flavour or texture.

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Who is winning?

Rising inclination towards vegetable and fruit flours across various regions is fuelling the demand for green banana flour. Manufacturers across the globe are are investing heavily to update their inventories with green banana flour products to cater to the growing demand.

For instance, Zuvii specializes in the production and marketing of gluten-free food ingredients for both retail and commercial sectors. The company offers products such as gluten-free banana flour, pancake and waffle mix, brownie mix, chocolate cake mix, vanilla cake mix, and bundles. The green banana flour produced by the company is claimed to be starch free, and good for the gut due to its probiotic nature.

Some of the key players in green banana flour market are are International Agriculture Group, Made’s Green Banana Flour Co., Kanegrade Ltd., Natural Evolution Limited, Slingan Pty Ltd., NOW Health Group, Inc, NuNatural Inc, Zuvii, Pereg Gourmet Natural Foods, M-Pak, Banatone Food Industries, Stawi Foods and Fruits Limited, Vinayak Ingredients (INDIA) Pvt. Ltd., Hearthy Foods, Saipro Biotech Private Limited, Paradise Fruits, Royal Nut Company, Absolute Organic, KADAC Pty Ltd.

Green Banana Flour Market by Category

Product Type

• Organic Green Banana Flour
• Conventional Green Banana Flour

Process

• Spray Dried Process
• Sun Dried Process
• Freeze Dried Process
• Others

Sales Channel

• Direct Sales
• Indirect Sales
  • Modern Trade
  • Convenience Store
  • Specialty Store
  • Online Retailers
  • Other Sales Channel

Application

• Household
• Food Industry
  • Bakery & Snacks
  • Confectionery
  • Infant Food
  • Filling & Dressings
  • Soup & Sauces
  • Others
• Beverages
• Pet Food & Feed Industry

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

Future Market Insights (FMI)’s report on the global silage additives market projects steady growth in 2021. Consistent demand from food sector is expected as an increasing number of companies seek to improve quality their products. According to the study, the market will continue gaining as food sector recovers post COVID-19. Also the rising demand for animal-based protein sources will emerge as a chief growth driver.

Inherent concerns pertaining to sustaining product quality and improving dietary value are the key complications, challenging the feed processing industry. Silage additives are often considered suitable options due to their high nutritional value and long-shelf life.

With some of the key players now using clean labels as catchwords for advertising, silage additives sales are poised to surge in the coming years. The demand for combination product types will rise at 6.4%, helping them emerge as the most attractive product category.

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Key Takeaways from the Silage Additives Market Study

• Steady growth will continue as silage additives market continue exhibiting above 5% CAGR on average through 2021-2031
• Rising demand for fresh forage backs the U.S. market, enabling it account for 87% sales in North America
• Impressive growth expected, as sales in the U.K. rise at above 7% in 2021
• Backed by increasing focus on fitness, sales will continue rising in Germany and France
• Adoption of novel technologies to support year-round silage production in Japan and South Korea

“Some of the emerging countries have been adopting various initiatives to expand silage production areas. The rising demand for dairy and animal products and increasing focus on feed quality will remain chief drivers of the market,” said a lead FMI analyst.

Rising awareness about animal health, along with increasing awareness regarding environmental well-being, is fuelling the demand for silage additives. Consumption of silage additives is expected to rise in developing countries in the coming years. Focus on improving animal immunity is increasing, which driven by the rising demand for non-GMO products among consumers.  This has been in turn fuelling silage additives demand.

Furthermore, in order to support in the fermentation process, numerous silage additives have been used to increase the nutrient and energy retrieval in silage often with consequent enhancements in animal performance. This has been aiding overall expansion of the market.

Who is winning?

Several top manufacturers of silage additives are concentrating on providing silage additives at an optimum price, owing to their increasing demand among consumers. Different companies have implemented integrated production approach to deliver cost-effective products in the market. Their efforts are aimed at expanding their footprints, while adding on to their production capacity.

A few of the leading players operating in the Silage Additives market are: BASF SE, Chr. Hansen Holding A/S, Biomin, Nutreco, Lallemand Inc., DuPont de Nemours, Inc, Shandong Baolai-leelai Bio-industrial Group, Schaumann Bioenergy GmbH, Micron Bio-Systems, Volac International Limited, Kemin India, Addcon Europe GmbH, Josera GmbH & Co KG, NWF Group, American Farm Products, Cargill, Microferm Ltd. and other players.

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Get Valuable Insights into Silage Additives Market

By Type

• Homofermentative Inoculants
• Heterofermentative Inoculants
• Combination Products
• Acids and Acid Salts
• Molasses or Sugars
• Enzymes
• Non-Protein Nitrogen (NPN) Compound

By Functions

• Stimulation Treatment
• Inhibition Treatment
• Other functions (aerobic stability enhancer, moisture absorbent, and nutrition)

By Form

• Powder
• Liquid

By Silage Crop

• Corn
• Alfalfa
• Sorghum
• Oats
• Barley
• Rye
• Other Crops (wheat, legumes, clovers, etc.)

By Region

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

Rising cases of chronic ailments have been encouraging consumers to adopt healthy eating. There is higher focus towards preventive healthcare, which is expected to fuel the demand for plant-based ingredients such as beet pulp. According to a study by Future Market Insights (FMI), the beet pulp sales are poised to surge considerably in the coming years. The market is expected to surpass US$ 2.5 Bn valuation in 2021.

The demand for dried pulp is expected to be the highest. It is likely to account for over 70% of beet pulps sold. East in transportation and lesser threat of damage or contamination will continue fuelling demand in this category.

Beet pulp is not only rich in nutrients, minerals, and vitamins but is also rich in unique phyto-constituents, which have numerous medicinal properties. It is anti-oxidant, anti-microbial, anti-depressant, anti-fungal, diuretic, anti- inflammatory, expectorant, and carminative, making it “superfood” for today’s generation.

Beet pulp also is a rich source of nitrates and sugar content making it an energy dispenser for consumers. The increasing health and wellness consciousness among the customers is drastically leading to an increasing penetration of beet pulp in end user applications.

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Key Takeaways from Beet Pulp Market Report

• The demand for beet pulp is expected to rise consistently, enabling the market register 5.9% CAGR between 2021 and 2031
• Popularity of plant-based ingredients will drive sales in U.S., enabling it to account for over 88% of beet pulp sold in North America in 2021
• The U.K. market will register a steady 2.5% y-o-y growth in 2021
• Increasing veganism trend will support growth in France and Germany
• Government initiatives undertaken to boost public health will support growth in China, followed by Japan and South Korea

“Livestock owners nowadays have become well aware about the livestock feeds they buy and the nutritional benefits it offers. Nutrition is an important factor in recent times and sales of products failing to qualify consumer expectation often get negatively affected. Thus, the manufacturers of livestock feed have started incorporating high nutritional value in their products. For this purpose, they have started deriving nutrition from sources such as plants to increase the nutritional content of livestock feed, this will boost the beet pulp market” said a lead analyst at FMI

Rise in Livestock Ownership Drives the Beet Pulp Market

The primary driver of the beet pulp market is the increasing number of livestock ownership. The increasing adoption of cows and horses as companion for families is driving the beet pulp market.

Suppertime is the happiest time for livestock, and every livestock owner strives to feed their animals a healthy, flavourful meal. Social comfort, protection, and companionship that animals provide are key factors encouraging them to raise animals. As a result the growing number of livestock owners, in turn fuelling the demand for livestock feed.

Furthermore, a number of businesses are focusing on developing new flavours for their products. The majority of animal feeds contain wheat, corn, and soy, which are combined with animal fats to give it a meaty flavour. Furthermore, safety regulations placed on livestock feed could contribute to an increase in demand for beet pulp market during the forecast period.

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Who is winning?

Some of the key players operating in beet pulp market Amalgamated Sugar, Michigan Sugar, Midwest Agri, Tereos, British Sugar, Nordzucker, Ontario Dehy Inc., American Crystal Sugar, Delta Sugar Company and many others. Key players of beet pulp are building strategies that will make their production line more efficient in order to get more output.

• For instance, Delta sugar company, which is leading manufacturer of in beet pulp market, has focused on effective and efficient production process that produces ±140.000 tons of beet pulp. This Company exports to markets in Europe and in the domestic market.

Get Valuable Insights into Beet Pulp Market

Product Type

• Wet Pulp
• Pressed Pulp
• Dried Pulp
  • Pellets
  • Shreds
• Ensiled Pulp

Livestock Type

• Cow
• Horse
• Sheep
• Goat
• Pig
• Buffaloes
• Mules
• Asses

Category Type

• Molassed
• Unmolassed

Sales Channel

• Direct Sales
• Modern Trade
• Specialty Store
• Departmental Store
• Convenience Store
• Online Retailers
• Other Retail Formats

Region

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• MEA