Market Research Blog

Future Market Insights (FMI) recently published global food ultrasound market research report, taking into account the impact of COVID-19 on the market. According to FMI’s analysis, the market is poised to grow steadily, primarily driven by rising food safety concerns by various governments.

Food ultrasound technologies have especially acquired importance in the wake of the COVID-19 pandemic. Since its onset, the FDA has encouraged greater availability of advanced imaging systems, providing significant traction to food ultrasound systems.

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Key Takeaways

• Global food ultrasound market poised to register steady CAGR through 2030
• Asia-Pacific to be a lucrative food ultrasound market, India to be a key revenue engine
• High intensity frequency range food ultrasound systems to emerge as the most lucrative segment
• Meat processing remains lucrative, fruits & vegetables testing to gain significant momentum

“Stringent government regulations to prevent food contamination and adulteration are paving the way for the emergence of numerous regional and global level food ultrasound device manufacturers,” concludes the FMI analyst.

COVID-19 Impact Insights

COVID-19 induced economic disruptions have had a limited impact on global food sales. However, there was a significant increase in demand for instant foods at the pandemic’s onset.

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After emerging wiser from the 2008 financial meltdown, food processors have been highly cautious, prompting them to secure supply chains. This has enabled them to avoid acute shortages. Owing to this trend, the market for food ultrasound systems is expected to remain stable.

Furthermore, a shift towards vegan diets is increasing scope of testing for plant based foods. For instance, over 12% of consumers in the UK have embraced vegan diets since the pandemic’s onset. A quarter of this sample size consist of millennials.

Therefore, increased health awareness combined with secure supply chains is likely to sustain the growth of food ultrasound market throughout the course of the pandemic crisis.

Competitive Landscape

The global food ultrasound market is characterized by the presence of numerous global level manufacturers. Prominent strategies adopted by them include technological innovations, partnerships, collaborations with research organizations and smaller players, acquisitions and new product launches.

In 2015, Hitachi High-Technologies Corporation collaborated with QIAGEN N.V., involving initiatives to deliver important advances in molecular testing. This collaboration aimed to develop new automation based PCR and NGS systems.

In a similar vein, Siemens Healthcare has launched the ACUSON X700^TM Ultrasound System, comprising a 20” LED widescreen display, 180^o articulating arm, one-touch image optimization and customizable measurements & presets.

In 2017, researchers at University of British Columbia developed a laser-equipped spectrometer, complete with statistical analysis to ascertain possible adulteration of ground beef samples, with 99% accuracy.

Fujifilm manufactures the Vevo MD ultra-high frequency machine series, equipped with a Power Doppler, which is capable of visualizing the minutest anatomy which a conventional ultrasound cannot achieve.

More Insights on FMI’s Food Ultrasound Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global food ultrasound market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the food ultrasound market on the basis of food product (meat, beverages, fruits & vegetables, dairy, bakery & other food products) and frequency range (low intensity & high intensity) across seven prominent regions.

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 plant-based meatballs market is witnessing impressive growth due to the rising demand for alternate meat. As people are getting more inclined towards vegetarian or flexitarian diet, the demand for plant-based meatballs products is sky-rocketing across the globel.

As an increasing number of people are moving away from meat to plant-based alternatives to live a cleaner and healthier life, plant-based meatballs market is experiencing surge in demand across the globe. Furthermore, the health-risks associated with various kind of meats such as red meat, and others are encouraging more consumers opting for plant-based meatballs products.

With the growing concern regarding animal life and welfare, more people are choosing to become vegan resulting in further increase in plant-based meatballs products Despite facing decline in market growth due to COVID-19 pandemic, the global plant-based meatballs market is expected to recover its growth rate by the beginning of 2021 creating ample of opportunities for the market players.

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FMI offers an exhaustive overview of the global market, along with its various growth drivers and restraints.

Some of the key takeaways from the report are highlighted below-

• Plant-based chicken is expected to lead the global market among all other plant-based meatball products throughout the forecast period
• Soya-based protein sources are expected to gain traction all over the world in the coming years
• Food service sectors are anticipated to remain as the most efficient distribution channels
• Europe is expected to lead the global market in the coming years followed by North America
• Increasing concern for healthy, vegan lifestyle among the consumers is expected to boost the market growth in the near future

“Rising demand for plant-based meat alternatives has been aiding overall growth of the market. With some of the leading brands introducing plant-based meat balls in their menu to cater to health-conscious consumers, the market is expected to witness a flurry of launches in the coming years” says an FMI analyst.

COVID-19 Impact Analysis

The recent outbreak of novel coronavirus has affected the market growth due to several factors such as non-operational manufacturing units during the lock down period, unavailability of sufficient manpower, scarcity of raw materials, financial crisis, job recession, and others.

In the other hand, COVID-19 pandemic has made people more concerned about their health resulting in higher demand for the plant-based protein supply.

Despite facing a few constraints due to the pandemic, the global plant-based meatballs market is expected to grow further in the coming years.

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Who is Winning

In order to capitalize on opportunities prevalent in the global plant-based meatballs market, the key market players such as Beyond Meat, Kellogg’s, Sysco Foodie, Hydrosol, Gardein, Ikea, Zhenmeat, and others are focusing on launching wide varieties of products launching to target broad range of customers.

Beyond Meat has released their extensive range of plant-based meatball products such as pre-formed and ready-to-cook BEYOND MEATBALLS™, BEYOND BREAKFAST SAUSAGE®, COOKOUT CLASSIC™, BEYOND BURGER®, and others.

Sysco Foodie has launched their Sysco Cutting Edge Solutions Products in February 2020, in order to provide several categories of plant-based meat balls products such as Tyson Boneless Thigh Wings, Sysco Classic Fully Cooked Chicken Skewers, Sysco Classic Sous Vide Sirloin Steak, and others. Zhenmeat has launched their diverse range of plant-based meatballs products such as beef patty, steak, pork loin, crayfish and dumplings, and others.

Recently Subway has announced their exciting partnership like exclusive Halo Top Creamery® hand-spun milkshakes and fresh-baked King’s Hawaiian® bread.

As the global plant-based meatballs market is expanding steadily, the competition is expected to become tougher in the near future.

More Valuable Insights on Plant-Based Meatballs Market

In the latest report by Future Market Insights, we offer a thorough unbiased analysis of the global plant-based meatballs market, providing historical data for the period of 2015-2019 and forecast statistics for the period of 2020-2030. In order to understand the global market potential, its growth and scopes, the market is segmented on the basis of product type (plant based chicken, plant based beef, plant based pork), source (soy-based protein, wheat-based protein, pea-based protein, canola-based protein, fava-bean based protein, potato-based protein, rice-based protein, lentil-based protein, flax-based protein, chia-based protein, corn-based protein), distribution channel (hypermarkets/supermarkets, convenience stores, specialty food stores, online retail, HoReCA), across six major regions (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.

Global plant-based hot dog sales grew by over 20% in 2020, signaling that years of steadily building consumer awareness is shifting market dynamics in a segment traditionally dominated by meat-lovers. The newfound commercial success has led to a scramble, with conglomerates, as well as niche manufacturers vying for a pie of the market. In its expansive new study, Future Market Insights’ offers a holistic, yet detailed analysis on how growth will unfold through 2030.

Key Takeaways

• Global plant-based hot dog market to surpass US$ 500 million by 2021-end
• Europe set to capture over 50% revenue share until 2022, South Asia to be fastest growing market
• Soy-based protein formulations to remain most preferred throughout the assessment period
• Plant-based beef to retain lucrativeness, pork garnering significant momentum
• Online sales to witness a prolific upsurge, attributed to shutdowns imposed by COVID-19 pandemic

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“Increasing government support to promote vegan products consumption has attracted manufacturers to lucrative markets, thus broadening scope of the market,” concludes the FMI analyst.

COVID-19 Impact Insights

While sales were already on an upward trajectory, the market for vegan products has catapulted even more since the pandemic’s onset, thus enhancing prospects for plant-based hot dogs in the coming future. Currently, at least 1 out of 50 retail packaged meat sales are plant-based.

As consumers look towards options to boost their immunity, consumption of plant-based diets have witnessed a substantial surge. Markets across the U.S, India and China are especially experiencing this increase as they are amongst the most affected countries by the novel coronavirus.

Besides the voluntary shift towards plant-based alternatives, market players are also looking to strengthen existing supply chains so as to offset any possible price shocks which may occur amid fears of a second wave of infections.

Competitive Landscape

Prominent players in the global plant-based hot dog market include Quorn Foods, Morningstar Farms, Daring Foods, Yves Veggie Cuisine, Gardein, Ingredion Inc., Glanbia Plc., Beyond Meat Inc., Nestle SA, Archer Daniels Midland Company, Cargill Incorporated, and Roquette Frères S.A., among others.

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The aforementioned players rely largely on new product launches and strategic collaborations with prominent players, owing to the highly competitive nature of the market. In addition, these players are actively aiding government bodies in promoting vegan products and designing policies promoting the same.

More Insights on FMI’s Plant-based Hot Dog Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global Plant-based hot dog market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the Plant-based hot dog market on the basis of product type (Plant-based chicken, Plant-based beef, and Plant-based pork), source (soy-based protein, wheat-based protein, pea-based protein, canola-based protein, fava-bean based protein, potato-based protein, rice-based protein, lentil-based protein, flax-based protein, chia-based protein, and corn-based protein) and distribution channel (Hypermarkets/Supermarkets, Convenience Stores, Specialty Food Stores, Online Retail, and HoReCA) across seven prominent regions.

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 global dairy ingredients market has expanded significantly since the beginning of 2020, owing to increasing milk products consumption amid heightened concerns over immunity enhancement to counter the novel coronavirus pandemic. Characterized as an essential service, milk production has witnessed a record increase, prompting manufacturers to augment their presence in key geographies.

Key Takeaways

• Emerging economies in the Asia-Pacific, specifically India & China to generate immense green spaces
• Milk proteins segment to expand at a noteworthy rate, owing to increased adoption of whey and casein proteins to manufacture dairy products
• Bakery and confectionery to remain principal application area through 2030
• E-commerce sales channels acquiring popularity amid the COVID-19 outbreak
• Livestock-sourced dairy products to remain dominant, owing to high bovine milk consumption

“Market players are emphasizing on forging strategic alliances with government owned milk co-operatives and milk distribution grids so as to expand their product outreach and deepen penetration,” remarks the FMI analyst.

COVID-19 Impact Insights

The COVID-19 pandemic has escalated sales of dairy ingredient products worldwide. As more consumers drift towards consumption of dairy products owing to perceived nutritional benefits, sales have proliferated credibly in recent months.

Although, the initial months of the pandemic reported a significant downswing due to the imposition of stringent lockdowns. Beverage giant Yakult, for instance, reported a significant drop in sales in the first two months of the pandemic crisis, to the tune of 10% in February.

Fortunately, countries have realized the importance of keeping the industry afloat and are taking steps to mitigate the adverse impact of the pandemic. For example, the Indian government has slashed the goods & services tax (GST) on ghee and milk fat from 12% to 5%.

On similar lines, the Trump Administration announced a US$ 15.5 billion bailout package for the U.S dairy industry. It went a step further by purchasing milk and converting it into commodities which could then be used as global humanitarian aid.

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Competitive Landscape

The global dairy ingredients market is characterized by the presence of numerous manufacturers, rendering the market competitive in nature. Prominent players in the landscape include AMCO Proteins, Fonterra Co-operative Group, Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF), Meiji Holdings Co. Ltd, Nestle S.A, Kerry Group and Ingredia SA among others.

In September 2020, Fonterra Co-operative Group’s Australian division signed an agreement to acquire Dairy Country with the objective of strengthening the former’s AU$ 2.6 billion retail cheese business portfolio. The acquisition was undertaken for AU$ 19.23 million.

In 2017, Nestle Group announced the launch of its MILO cocoa-malt beverage in the Indian sub-continent, which was realized in 2019. This launch has helped Indian consumers have enhanced doses of essential micronutrients such as Vitamins B2, B3, B6, B12, C and D respectively.

More Insights on FMI’s Global Dairy Ingredients Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global dairy ingredients market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the global dairy ingredients market on the basis of type (proteins, milk powder, milk fat concentrates, lactose & its derivatives and other types), livestock (livestock and other stock), application (bakery & confectionery, dairy products, sports nutrition products, infant formulas and other applications) and distribution channel (e-commerce, specialty retailers, supermarket & hypermarket and others) across six prominent regions.

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.

Applications of algal fats in food and beverage, biofuel, and animal feed sectors are key factors that are likely to positively influence market developments. Algae fat products are widely used in dietary supplements for key nutrients such as omega-3. Niche applications in pharmaceuticals are also likely to aid market players in the long-term.

Rising levels of health awareness among consumers, and growing preference for vegan and vegetarian nutritional sources is bolstering the growth of the algal fats market. Environmental concerns and depletion of fossil fuel reserves are likely to benefit the industry.

Key Takeaways from the Algae Fats Market Study

• Global algae fats market to grow at a healthy CAGR through 2030.
• East Asia to reflect strong growth rate, Europe to hold lead in market prospects for the assessment period.
• Algae fats for feed grade variants will witness relatively higher sales, driven by innovations in customized formulations for animal nutritional products.
• Major players are investing in improvements for supply and distribution chains to consolidate regional presence.
• Food and beverage applications, pertaining largely to edible oils will gain traction owing to demand for demand for healthier ingredients.

“Algae fats are natural sources of antioxidants, omega-3 fatty acids, and protein, which is a key factor driving adoption as dietary supplement ingredients. As a result, algae fats are gaining significant traction among health-conscious consumers across the globe,” said an FMI analyst.

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Covid-19 Impact Insights

The covid-19 impact is likely to generate lucrative opportunities for growth in the algae fats market. Lockdown restrictions on algae cultivation industries, and supply chains are key short-term concerns during the crisis. Applications in the dietary supplement sector in offerings for home-consumption, is likely to gain ground.

Demand is likely to continue rising through 2030, despite the threat of the virus on the global economy. Also, the market is likely to display steady growth even post pandemic, supported by increasing levels of health awareness among consumers and health care practitioners, positively influencing demand for the foreseeable future.

Algae Fats Market- Report Scope

Participants in the algae fats market are largely focused on investments into research and development to widen the scope of applications for algae fats. Also, strategic collaborations towards product development and capacity expansions are likely to find importance during the forecast period.

IKEA, under its Space10 initiative has revealed efforts towards the development of dishes with unconventional ingredients, including algae fats, insects and meat substitutes among others, in line with the company’s sustainability strategies.

Unilever has partnered with Algenuity, a biotech startup towards investing in research for new food products incorporating microalgae as a key ingredient for sustainable sources of fats and nutrition, aimed for the commercial market.

Yemoja, a start-up based in Israel has unveiled a new cultivation platform for growing and harvesting algae at commercial scales with photobioreactor technologies. The company has announced plans to develop and produce varied products from the harvest.

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More Valuable Insights on the Algae Fats Market

In a new report, Future Market Insights has given a detailed analysis of the global algae fats market with detailed analysis in terms of historical demand between 2015 and 2019. In addition, the report provides forecast data for the period from 2020 to 2030. The study covers projections of growth for the algae fats market on the basis of type (food grade and feed grade), application (biofuel, dietary supplements, and animal feed), and distribution channels (e-commerce, specialty retailers, supermarket/hypermarket, and others), across 6 key regions.

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.