Market Research Blog – Page 1357 – New Product Development

Hybrid Rice Seeds Market to Grow Beyond USD 10.8 Billion by 2033, Future Market Insights, Inc. Reveals

The hybrid rice seeds market (Marché des semences de riz hybride) is predicted to be worth US$ 5.1 billion in 2023, and rise to US$ 10.8 billion by 2033. Initially, the global market was expanding at a CAGR of 7% between 2017 and 2022.

Many abiotic and biotic factors present a barrier to sustainable rice agriculture. As a result, stress tolerance has been included into high-yielding varieties, which has shown to be a very successful method for creating these varieties that can handle such circumstances. This is boosting the hybrid rice seeds market and reducing the losses brought on by stress-related issues.

The development of hybrid rice seeds that are resistant to microbial infestations and produce larger yields in a relatively short amount of time than inbred types is another focus for hybrid seed producers, which is expected to fuel expansion.

Since rice is a staple food for around 60% of the world’s population, the demand for it is rising along with the worldwide population. In order to meet this rising demand and supply rice to various end users, rice yield per unit area has also increased.

To develop new hybrid rice seeds varieties and encourage farmers to use them, the government and numerous research institutions are working together.

Key Takeaways

By 2033, China is likely to dominate the hybrid rice seeds market, with a size of US$ 4.3 billion.
The hybrid rice seeds market was significantly expanding, with a size of US$ 4.8 billion in 2022.
There is a market opportunity of US$ 5.7 billion in absolute terms, which is driven by the change in consumption patterns.
The market in the United States is anticipated to expand at an adequate CAGR of 3.7% by 2033.
By 2033, Canada is likely to expand in the hybrid rice seeds market, with a size of US$ 75.6 million.
By 2033, the hybrid rice seeds sector is likely to increase in Japan, with a size of US$ 176.2 million.
The Indian market is anticipated to expand at an adequate CAGR of 8.8% by 2033.
Based on grain size, the long grains led the hybrid rice seeds market with a CAGR of 6.2% by 2033.
Based on duration, up to 110 days segment continues to dominate the sector during the forecast period, with a CAGR of 8.4%

Key Strategies in the Industry

Due to the rising need for bigger yields and better-quality produce, hybrid rice seed technology has experienced substantial expansion in the last few years. In order to gain market share in the fiercely competitive market for hybrid rice seeds, businesses must offer better variety, affordable prices, and aggressive marketing.

To remain ahead of the competition, businesses are developing new types and technologies. To reach more clients, they are also concentrating on marketing and advertising initiatives. In order to expand their reach, businesses are also concentrating on enhancing their distribution networks and opening new stores.

Recent Developments

Ricetec Inc. purchased the assets of Ganga Kaveri Seeds in 2019 to expand its product line and draw in more clients.
As of May 2019, Syngenta has released the SYN98 3-line hybrid rice variety in Vietnam. The Syngenta Nam Dinh Research Center has been given approval by the Ministry of Agriculture and Rural Development to start trial production of this variety in December 2017.

Full Market Assessment: Comprehensive Report

Key Segments

By Grain Size:

Long Grains
Medium-sized Grains
Short Grains

By Durability:

Up to 110 Days
111 to 140 Days
140+ Days

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

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

Ginseng Market Projected to Reach USD 1,262.3 Million by 2034: Growth Forecast and Analysis

The global ginseng market (Marché du ginseng) share value is projected to total USD 786.3 million in 2024 and USD 1,262.3 million by 2034. Demand for ginseng will likely increase at a steady CAGR of 4.3% throughout the forecast period.

Ginseng demand remains high in the pharmaceutical sector due to its potential health benefits. As per the latest analysis, the pharmaceutical products segment is estimated to hold a market share of 41.8% in 2024.

Multiple factors are anticipated to drive the ginseng industry forward during the assessment period. These include:

The multifunctional attributes of ginseng
Growing health consciousness among consumers
Rising interest in herbal supplements
Increasing demand for ginseng-based products
Continuous innovation in ginseng products

Today, consumers are increasingly seeking natural and organic products. As a result, there is a growing demand for herbal products like ginseng. This will continue to provide impetus for the growth of the ginseng market during the assessment period.

The varied applications of ginseng, encompassing its adaptogenic properties, immune system support, and potential cognitive benefits, are creating a robust demand among consumers seeking natural and holistic approaches to health. This trend is likely to persist as the awareness of ginseng’s health benefits continues to grow.

Ongoing scientific research into the medicinal properties of ginseng, including its potential impact on stress, immunity, and cognitive function, is contributing to the credibility and marketability of ginseng-based products. This will support market expansion through 2034.

As more studies highlight the potential health benefits of ginseng, consumers are becoming more confident in incorporating ginseng-based products into their wellness routines. This combination of traditional wisdom, anecdotal evidence, and scientific backing has created a compelling narrative around ginseng, driving its popularity in the health and wellness market.

Advances in extraction and processing techniques are influencing the development of ginseng products. Innovations in these areas may lead to the creation of new and more potent formulations, enhancing the overall appeal of ginseng-based offerings.

Ginseng producers leverage online channels for promotion and sales due to the increasing use of the internet and the simplicity of online transactions among consumers. Online merchants are favored by the majority of consumers, driving businesses to establish a strong online presence.

Extensive Market Research: Complete Report and Findings

Key Takeaways from the Ginseng Market Study

The global market for ginseng is set to have a total valuation of US$ 1,262.3 million in 2034.
Based on source, the cultivated ginseng segment will account for a revenue share of over 7% in 2024.
By end-use, pharmaceutical products segment is expected to hold a market share of 8% in 2024.
The United States is poised to exhibit a CAGR of 3% through 2034.
Ginseng demand in India is projected to grow at a CAGR of 1% from 2024 to 2034.

“The ginseng market is witnessing a transformative shift, propelled by a surge in consumer awareness of its health benefits, including adaptogenic properties and immune system support. Notably, the market is diversifying its product offerings, with manufacturers innovating in supplements, teas, and skincare products to cater to varied consumer preferences,” says a lead analyst at Future Market Insights (FMI).

Who is Winning?

A few of the leading players operating in the ginseng market are Organika Health Products Inc., Daedong Korea Ginseng Co., Ltd., Korean Ginseng Export Corporation, Ilhwa Co. Ltd., Korean Ginseng Corp., Shanghai FanPharma Co., Ltd., RFI Ingredients, Inc., Koshiro Co Ltd, Ningbo Gianon Biotech Co., Ltd., Nature’s Way, Sino-Nature International Co., Ltd., and other players.

Due to the rising consumer demand for ginseng, several leading manufacturers are focusing on offering it at the best possible pricing. They are constantly launching new products in lucrative regions as well as using sustainable farming practices. Many companies also employ strategies like collaborations, partnerships, and acquisitions to stay relevant in the market.

Recent Developments:

In December 2022, Korea Ginseng Corp. launched Pure Extract Heaven in the United States market to meet the rising demand for herbs and natural source supplements in the nation.

Get Valuable Insights into Ginseng Market Report

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the ginseng industry, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034. The study provides compelling insights based on source (wild, cultivated), form (raw, powder, extract), variety (oriental, American, Siberian, and others), and end-use (personal care products, dietary supplements, food and beverage processing, pharmaceutical products) across seven major regions.

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:

Global Safety Needles Market Poised for Remarkable Growth, Projected to Reach USD 11,972.7 Million by 2033

The global safety needles market is on a remarkable growth trajectory, set to expand from USD 5,840.7 million in 2023 to an impressive USD 11,972.7 million by 2033. This surge represents a robust compound annual growth rate (CAGR) of 7.4% over the next decade, reflecting a significant shift towards enhanced safety and sustainability in healthcare practices.

Key Drivers of Growth:

Rising Incidence of Needlestick Injuries: In the United States alone, over 5.6 million healthcare professionals face the risk of needlestick injuries annually, with around 1 million incidents reported in the European Union. This growing concern is fueling the demand for safety needles designed to minimize injury risks.
Increased Prevalence of Chronic and Infectious Diseases: The rising incidence of chronic conditions, particularly diabetes, is driving the need for safety needles. Diabetic patients require frequent insulin injections and are increasingly seeking options that offer reduced discomfort and enhanced safety.
Technological Advancements and Government Support: Innovations in needle technology and favorable government initiatives are accelerating the adoption of safety needles globally. This progress is further supported by a growing number of companies entering the market with advanced solutions.

Challenges and Emerging Trends:

Despite the positive outlook, the market faces challenges including incorrect needle injection techniques, complications from hemorrhaging, and patient anxiety. Additionally, the emergence of needle-less innovations and alternative drug delivery methods may impact market dynamics.

On a positive note, there is a growing emphasis on sustainability, with manufacturers prioritizing eco-friendly materials in needle production. Furthermore, the home healthcare segment is emerging as a significant growth area, with safety needles becoming a crucial component in at-home care settings.

Regional Insights:

North America: Expected to lead the safety needles market during the forecast period, driven by an aging population and high healthcare expenditure.
Asia Pacific: The region is anticipated to witness rapid growth, with China showing strong potential to surpass the United States in the future due to its investments in healthcare infrastructure and safety practices.

Safety Needles Market Trends: Discover the Full Details in Our Extensive Report!

Key Market Insights:

The United States held a dominant 27.8% share of the global safety needles market in 2022.
The UK market is projected to grow at a CAGR of 7.0% through 2033.
Japan secured an 8.5% market share in 2022.
India is poised for significant progress with an anticipated CAGR of 11.1%.
Germany held a notable 7.9% share of the global market.
China is expected to experience a swift ascent with a projected CAGR of 9.7%.

Recent Developments:

Noteworthy advancements include Zephyrus Innovations’ Aeroject 3ml safety needle receiving FDA approval in February 2023, and HMD’s introduction of the Single-use Dispojekt Safety Needle in June 2021, designed to enhance protection for healthcare personnel.

Key Companies to Watch:

Medtronic Public Limited Company
Boston Scientific Corp
Becton Dickinson and Company
Smith Medical
Argon Medical Devices, Inc.
Novo Nordisk A/S
Terumo Corporation
NIPRO Medical Corporation
B. Braun Melsungen AG
Abbott Laboratories
Eli Lilly and Company
Retractable Technologies

Market Segments:

By Product: Fine Aspiring Needles, Biopsy Needles, Hypodermic Needles, Pen Needles, Suture Needles, IV Catheter Needles, Blood Collection Needles, Spinal Anesthesia and Epidural Needles, Prefilled Needles, A.V. Fistula, Cannula Needles, Huber Needles.
By Application: Sample Collection, Drug Delivery.
By Distribution Channel: Hospitals, Pharmacies, Private Clinics, Retail Pharmacies & Drug Stores, E-commerce.
By Region: North America, Latin America, Europe, East Asia, South Asia, Oceania, 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:

Kombucha Industry Forecasted to Skyrocket, With Market Value Reaching USD 17.1 Billion by 2033 | FMI

The global kombucha market (Marché du Kombucha) is set for exponential growth, projecting a remarkable CAGR of 17.4% from 2022 to 2033. Starting at an estimated US$ 3.4 billion in 2023, the market is anticipated to reach an impressive US$17.1 billion by 2033, offering investors substantial opportunities for financial gains.

Each year, unsafe alcohol consumption kills approximately 3 million people, accounting for 5.3% of all deaths, according to the World Health Organization (WHO).

The increasing demand for natural and organic beverages may be the cause of kombucha’s rising popularity. Customers’ demand for healthier options is being met by kombucha, which has the natural ability to ferment bacteria and yeast. Particularly the millennial generation is drawn to kombucha because of the shift in society towards healthier eating practices and a decline in the consumption of alcoholic beverages.

Customers’ choices for low- and non-alcoholic kombucha drinks have changed as a result of this. Customers are choosing non-alcoholic drinks over alcoholic ones as they lead better lifestyles, especially Millennials. This raises the sales of kombucha.

Growth Factors:

The introduction of fresh and different flavours, appealing to today’s experimental palate, has driven the market’s expansion even further. Kombrewcha is capitalising on this trend by delivering appealing flavours like blood orange and mango pineapple. This innovation, combined with the convenience of can and bottle packaging, broadens the market appeal and increases customer purchases.

Global Market Is Adjudicated by Regular Flavored Kombucha

As more people are willing to try new things, regular kombucha is in style. Variants of flavoured kombucha bottles are selling better than ever. The market’s dominant category is regular kombucha.

By 2033, the herbs and spices category might potentially control a sizeable portion of the global Kombucha market. Since major companies concentrate on creating flavoured fermented kombucha tea with various distinctive kombucha flavors by blending herbs and spices.

Regional Outlook

Between 2023 and 2033, North America may hold a sizeable portion of the hard kombucha market. In terms of market share, Europe trailed North America because of its robust distribution network and rising consumer awareness in the U.S. The demand for probiotic beverages and other functional beverages is expected to increase among office workers, which could fuel the rise.

During the forecast period, the hard kombucha market is anticipated to develop at the significant CAGR of 18.5% in Asia Pacific. Due to the easy manufacture of kombucha-based drinks and rising alcoholic beverage consumption. Growing health concerns among people and a number of governments increasing discretionary expenditures to promote alcohol could fuel kombucha industry expansion.

Key Takeaways

From 2023 to 2033, the regular category may expand at a CAGR of 16.3% by flavor in the kombucha drinks market.
The glass bottles category might develop at a CAGR of 12.0% from 2023 to 2033, according to the packaging segment.
Between 2023 and 2033, the Chinese kombucha drinks market might expand at a CAGR of 16.8%, reaching US$ 744.8 million.
Kombucha sales in France may have climbed at a CAGR of 15.4% by 2033 and may total US$ 773.4 million.
By 2033, the United States kombucha drinks market is expected to grow at a CAGR of 16.3% and reach US$ 4.6 billion.
By 2033, the United Kingdom market can have grown at a CAGR of 18%, reaching US$ 1.4 billion.
The Germany kombucha market could have expanded at a CAGR of 22.1% by 2033 and may have amounted to US$ 2.8 billion.

Investor Outlook:

For investors eyeing the kombucha market, the long-term perspective is optimistic. Future Market Insights projects consistent sales growth of above 15%, making it a lucrative investment opportunity. As the market expands, targeting diverse consumer groups and emphasizing health benefits will be pivotal for sustained success.

Competitive Landscape

A small number of significant international players have helped to consolidate the hard kombucha market. A number of businesses, including The Coca-Cola Company, Molson Coors Beverage Company, The Humm Kombucha LLC, The Hain Celestial Group, and Revive Kombucha, are concentrating on new product releases and strategic acquisitions to grow and strengthen their businesses.

Key players, who are using a variety of methods, such as new product releases, the growth of product portfolios, and mergers and acquisitions, have a majority of the market share.

Exhaustive Market Report: A Complete Study

Recent Development

Expansion

A firm called “GT’s Living Foods” has expanded the flavour options for its synergy Kombucha line in 2021. These two new summer variations, California Citrus and Lemon Berry, have drawn interest from potential customers and helped expand the client base.

Acquisition

Tetley Harris Food Group, which was originally a division of Tata Consumers Product firm, was fully acquired by US-based Harris Tea Company in April 2021, according to an announcement. The company strives to provide comprehensive end-to-end services to its clients.

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

Vegan Cheese Market Set for USD 8.2 Billion Valuation by 2034, FMI Analysis Reveals

The global vegan cheese market (Marché aux fromages végétaliens) is poised for substantial growth, with projections indicating that the market will reach a valuation of USD 8,231 million by 2034, up from USD 3,467 million in 2024. This represents a robust compound annual growth rate (CAGR) of 9% over the forecast period. The rising popularity of veganism, coupled with increasing consumer awareness about the environmental and health impacts of traditional dairy products, is driving this growth.

Vegan cheese, also known as cheese substitute, dairy-free cheese, cruelty-free cheese, and plant-based cheese, is gaining massive popularity among consumers. The demand is primarily driven by individuals who are looking for environment-friendly and cruelty-free alternatives that mimic the taste and texture of traditional dairy cheese. This trend is particularly pronounced among vegans, flexitarians, and reducetarians who are motivated by ethical, health, and sustainability concerns.

Several key factors are contributing to the rapid expansion of the vegan cheese market:

The increasing number of people adopting vegan diets is a significant driver of the vegan cheese market. Ethical concerns about animal welfare and the environmental impact of animal agriculture are motivating more individuals to choose plant-based alternatives.
The potential health benefits of plant-based diets, including lower risks of heart disease and lactose intolerance issues, are influencing consumer preferences towards dairy-free cheese.
Manufacturers are continually introducing new varieties of vegan cheese, such as cream cheese, brie, and feta, to cater to diverse consumer tastes and dietary preferences. These innovations are helping to attract a wider consumer base.
Growing awareness about the environmental impact of animal agriculture is driving demand for sustainable food options. Vegan cheese, which requires fewer resources and produces less greenhouse gas emissions compared to dairy cheese, is gaining favor among environmentally conscious consumers.

Country-wise Analysis

The vegan cheese market’s growth varies by region, influenced by local dietary trends and consumer preferences. Here’s a closer look at key markets:

United States: The U.S. leads the global vegan cheese market, with a projected CAGR of 6.9% and a market share of 25.4%. The surge in interest in vegan products, coupled with increasing health consciousness, is driving demand for dairy-free cheese. Key players like Miyoko’s Creamery and Follow Your Heart are expanding their offerings to meet this growing demand.
United Kingdom: In the U.K., the vegan cheese market is expected to grow at a CAGR of 5.3%. Government initiatives promoting the health benefits of plant-based diets and the rising popularity of brands like Violife are key factors supporting market growth. Consumers are increasingly incorporating vegan cheese into popular dishes like pizza, pasta, and tacos.
Germany: Germany’s vegan cheese market is set to expand at a promising CAGR of 7.9%. The country’s growing vegetarian and vegan population, along with increasing awareness of lactose intolerance, is driving demand for dairy-free cheese. The availability of a wide range of vegan cheese options in supermarkets is further boosting market growth.
China: The demand for plant-based cheese in China is projected to grow at a CAGR of 3.9%. Rising consumer awareness about sustainability and health is driving demand for dairy-free cheese. Companies are forming strategic partnerships with food distributors to expand their reach, as seen with Youkuai Group International’s partnership with Usource.
India: The vegan cheese market in India is expected to grow at a CAGR of 6.8%. Increasing income levels and a growing willingness to pay for ethically-produced products are key factors driving market growth. The rising popularity of online shopping for vegan products is also contributing to market expansion.

The vegan cheese market is being shaped by several significant trends and drivers:

The growing adoption of vegan and flexitarian diets is a major driver of market growth. Consumers are increasingly seeking plant-based alternatives to reduce their consumption of animal products for ethical, health, and environmental reasons.
Continuous innovation in vegan cheese flavors and varieties is attracting a broader consumer base. Manufacturers are developing new products to meet the diverse tastes and dietary needs of consumers, including vegan mozzarella, cream cheese, and brie.
Hypermarkets and supermarkets are allocating more shelf space to vegan products, making dairy-free cheese more accessible to consumers. These retail channels also offer discounts and promotions to attract more buyers.
Growing awareness about the environmental impact of animal agriculture is driving demand for sustainable food options. Vegan cheese, which has a lower environmental footprint compared to dairy cheese, is becoming increasingly popular among eco-conscious consumers.

Future Outlook and Opportunities for Vegan Cheese Market:

The global vegan cheese market is set for significant growth over the next decade, offering lucrative opportunities for investors. The rising demand for dairy-free cheese, driven by health, ethical, and environmental concerns, presents a promising investment landscape.

Manufacturers are likely to focus on product innovation and expanding their product lines to cater to diverse consumer preferences. The increasing availability of vegan cheese in retail channels and the growing popularity of online shopping are expected to further boost market growth.

Detailed Market Study: Full Report and Analysis

Key Segments Covered in the Vegan Cheese Market Report

Product Type:

Mozzarella
Parmesan
Cheddar
Cream Cheese
Ricotta
Others

Form:

Shreds
Blocks and Wedges
Slices

Source:

Almond Milk
Soy Milk
Coconut Milk
Cashew Milk
Others

End-Use:

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

Nature:

Conventional
Organic

Sales Channel:

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

About Future Market Insights (FMI)

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

Contact Us:

Global Digital Mobile X-Ray Devices Market Soars with Robust Growth: Projected to Reach USD 7,272.7 Million by 2033

The global digital mobile X-ray devices market is experiencing remarkable expansion, underscoring a significant shift in the diagnostic imaging sector. According to the latest market research, the market, valued at USD 3,610.8 million at the close of 2022, is projected to reach USD 3,873.7 million by the end of 2023. This growth reflects a consistent upward trend and highlights the sector’s dynamism.

Forecasts suggest a compelling compound annual growth rate (CAGR) of 6.5% from 2023 to 2033, driven by rapid technological advancements and an increasing prevalence of chronic diseases globally. The market is anticipated to double in value, reaching an estimated USD 7,272.7 million by the end of the forecast period.

The surge in the adoption of digital mobile X-ray equipment is primarily attributed to technological innovations that enhance diagnostic accuracy and efficiency. These advancements, coupled with a proactive patient base seeking early detection and management of chronic conditions, are significantly improving global healthcare outcomes.

The COVID-19 pandemic notably accelerated the demand for handheld digital X-ray machines, benefiting market players and highlighting the advantages of digital mobile X-rays over traditional systems. The flexibility, precision, and efficiency of these devices have created ample growth opportunities within the sector.

Recent analysis by FMI highlights that leading companies are developing high-end mobile radiography workflows and devices, which have gained considerable popularity. Notably, the integration of artificial intelligence (AI) into handheld X-ray technology has demonstrated exceptional accuracy and sensitivity in detecting imaging abnormalities, further propelling the market’s growth.

The global digital mobile X-ray devices market stands poised for significant advancement, driven by technological progress and evolving healthcare needs. As the sector continues to expand, it promises to enhance diagnostic capabilities and contribute to improved patient care worldwide.

Key Takeaways from the Digital Mobile X-Ray Devices Market Study:

The United States leads in sales of digital mobile X-ray devices, accounting for nearly 27.9% of global revenue. North America, including Canada, held a 31.1% global market share in 2022.
Germany was the dominant market in Europe, contributing approximately 7.1% to global sales in 2022.
In Asia, China is the leading market for digital X-ray device manufacturers, with a projected growth rate of 8.1% CAGR through 2033.
The computed radiography (CR) technology segment led the market, accounting for 52.6% of global revenue share in 2022.
Mobile devices currently lead the market, representing about 91.1% of total sales in 2022.
Sales of X-ray devices for installation in hospitals and medical institutes accounted for nearly 68.7% of total revenue in 2022.

Get the Latest on Digital Mobile X-Ray Devices: Our Full Report Highlights Key Trends and Insights!

Competitive Landscape:

The market is characterized by significant consolidation and competitive activity. Major players are focusing on product development and technological enhancements to stay ahead. Recent developments include:

Agfa HealthCare introduced SmartXR for X-ray AI in December 2020, aiming to enhance digital radiography in field hospitals.
Canon Medical Systems launched the OMNERA 500A Digital Radiography system in the United States in December 2020, featuring intelligent auto-positioning capabilities.
Samsung unveiled the GM85 Fit in April 2022, a new configuration of its premium digital radiography instrument, designed for efficient patient care and FDA-approved.

Key Players in the Digital Mobile X-Ray Devices Market:

Canon Inc.
Carestream Health
General Electric
Siemens Healthcare
Koninklijke Philips N.V.
FUJIFILM Corporation
Shimadzu Corporation
Ziehm Imaging GmbH
MinXray, Inc.

Market Segmentation:

By Product: Mobile Devices, Handheld Devices
By Technology: Computed Radiography, Direct Radiography
By Application: Orthopedic Imaging, Chest Imaging, Dental Imaging, Other Applications
By End User: Hospitals, Radiology Centers, Outpatient Clinics, Other End Users
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:

Plant Based Beverage Market Expands Rapidly at 5.92% CAGR by 2034, Catering to Lactose Intolerant and Vegan Demands

The need for plant based beverage is predicted to rise at a moderate CAGR of 5.92% through 2034. The Marché des boissons à base de plantes is projected to surpass US$ 665.8 billion by 2034. The surge in the trend of veganism is helping to promote the demand for plant based beverages across the globe.

The expansion and the rise in lactose intolerance rates leads the global market for plant based beverages to grow and is subsequently expected to give maximum growth in the near future.

Such goods are mostly preferred by customers looking for low-fat and low-cholesterol solutions. Plant-based drinks are definitely considered to have a healthy choice that are easily available and provide the customers with essential vitamins and minerals.

DSM-Firmenich Opens Innovative Pilot Plant in New Jersey

DSM-Firmenich unveils a cutting-edge pilot plant in Plainsboro, NJ, within its Taste, Texture & Health business unit. The facility aims to enhance collaboration with clients, accelerating the global shift towards healthier, plant-based food and beverage options. Equipped for benchtop development and incorporating consumer feedback, it streamlines the transition from laboratory to small-batch production, with a focus on scaling beverage manufacturing for dairy and plant-based products.

Key Highlights of the Plant Based Beverage Industry

Plant based beverages are becoming more and more popular as healthier substitutes are now more available for dairy milk among consumers.
Venture capital businesses as well as conventional food and beverage corporations have started investing leading to the rising demand for plant based beverages.
Consumer education and advocacy efforts have intensified as an awareness for the increase in ethical, environmental, and health benefits of plant-based diets.

The usage of cruelty-free products has risen as a result of growth in awareness of animal suffering and numerous awareness led by various campaigns that have been held worldwide.

The market for plant based beverages is on the verge of expansion due to a number of additional factors, inclusively holding increase in levels of disposable income and rapid urbanization. This is the healthiest dairy product substitute currently on the market.

Plant-based milk products are however anticipated to grow substantially over the next several years. Drinks made from plants have lesser carbon footprints promoting them to be a sustainable choice and are widely supported.

Key Takeaways from the Market Study

Under source type, plant-based juices is accounted to hold a market share of 67.8% in 2024.
Based on nature, the conventional segment is accounted to hold a market share of 92.1% in 2024.
Based on source, the plant-based juices segment is accounted to hold a market share of 67.8% in 2024.
Germany is estimated to register at a CAGR of 6.3% by 2034.
Japan experiences significant growth, projected at a CAGR of 4.4% by 2034.
Based on the nature, the conventional segment is accounted to hold a market share of 92.1% in 2024.

“The surge in demand for vegan diets and people suffering from intolerance to lactose are the primary drivers for the plant based beverage market,” -says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)

Extensive Market Research: Complete Report and Findings

Competitive Landscape

Major market players like DSM, Bayer AG, Abbott, Nestlé SA compete with up-and-coming companies and start-ups for market supremacy in the fiercely competitive plant based beverage sector.

Regulated by a wide range of plant-based beverage options, making investments in product innovation, and growing their distribution networks, these businesses compete fiercely with one another. The dairy business is seeing increased competition due to the growing demand from consumers for more sustainable and healthful options.

Key Developments in the Plant Based Beverage Industry

In June 2021, Plant Veda, announced the launch of a new line of vegan lassi (an Indian yogurt drink) from cashews and real fruits. The product was free of cane sugar and contains gut-healthy probiotics.
In February 2021, Heartbest Foods, launched its plant-based milk. The plant-based milk was available in plain and quinoa flavors.

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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Oats Market Set to Surpass USD 17,332.1 Million by 2034 with a Focus on Sustainability and Environmental Impact: FMI

The oats market size (Marché de l’avoine) is poised to cross US$ 9,181.7 million in 2024 and is likely to attain a valuation of US$ 17,332.1 million by 2034. The oats industry is projected to develop at a CAGR of 6.6% from 2024 to 2034.

The players in the market are cognizant of how consumers are beginning to weigh sustainability more heavily when making decisions. Oats have emerged as a strategic asset for brands prioritizing sustainable sourcing and production practices, owing to their acknowledged low environmental impact. Conscious customers respond favorably to items that support the environment, which helps to promote oat-based products as ethical options.

Growing knowledge of celiac illness and gluten sensitivity is propelling the oats market’s explosive rise. Oats are a great option for people actively looking for gluten-free alternatives to traditional grains because of their natural gluten-free status. Product portfolios are being restructured by this trend, which is an adaptation to changing dietary preferences. Oat-based and gluten-free goods are becoming increasingly popular.

The rising trend of healthy snacking presents opportunities to innovate oat-based snacks. Granola bites, energy bars, and other savory oat-based snacks are handy, nutrient-dense oat snacks that can capitalize on the market for on-the-go snacking by offering customers healthier options without sacrificing flavor.

Key Takeaways from the Oats Market Report:

The rolled oats product type segment occupied 35.1% of the market shares in 2024.
The conventional nature segment captured 87.5% of the market share in 2024.
The market size in the United States is projected to rise at a 4.9% CAGR through 2034.
The market size in Germany is anticipated to develop at a 1.4% CAGR through 2034.
The market size in the United Kingdom is estimated to surge at a 2.6% CAGR through 2034.
The market size in France is expected to thrive at a 7.2% CAGR through 2034.

“Success in the dynamic oats market requires a sophisticated grasp of the wide range of customer tastes, constant innovation, adherence to regulations, and tactical alliances in line with health trends. To successfully cruise this changing environment, it is important to stress the necessity for a holistic strategy that incorporates flexibility, inventiveness, and a commitment to sustainability.”- says Nandini Roy Choudhury, Client Partner at Future Market Insights

Competitive Landscape

The oats industry is fiercely competitive. Industry titans like Quaker, General Mills, and Kellogg lead the competitive oats market, which is attributable to their wide distribution and well-known brands. Swift firms that focus on trends like organic and gluten-free oats simultaneously disrupt the market with innovation. The competitive dynamics are defined by diversification into beverages and snacks, strategic partnerships, and an increasing focus on sustainability.

Key Players in the Global Oats Market

Quaker Oats Company
General Mills
Kellogg Company
Nature’s Path Foods
Bob’s Red Mill Natural Foods
Post Holdings
Weetabix Limited
Grain Millers, Inc.
The Jordans & Ryvita Company
Nature’s Best Ltd.

Recent Developments

In October 2023, Post Consumer Brands’ Honey Bunches of Oats launched a fresh, imaginative campaign to remind customers that if they enjoy oats, they’ll love them even more in bunches. Produced by Carmichael Lynch, the brand’s creative AOR, the fully integrated campaign, which runs through 2024, features national TV, social media, and digital content and elevates Bunches of Oats with a healthy dose of sardonic comedy.
In August 2023, Quaker Oats, owned by PepsiCo, expanded its Oat So Simple line with the new Caramelised Biscuit flavor. The latest addition makes breakfast more convenient by being offered in both sachet and on-the-go pot styles.

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Global Oats Market Segmentation

By Product Type:

Oat Groats
Whole Oats
Steel Cut Oats
Rolled Oats
Oats Flour

By End Use:

Breakfast Cereals
Bakery Products
Snacks & Savories
Others

By Distribution Channel:

Hypermarkets/Supermarkets
Convenience Stores
Online Retail
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)
Japan

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.
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Ship Repair and Maintenance Service Market Forecasted to Reach USD 53,375.69 Million by 2034, Expanding at a 6.6% CAGR | FMI Reports

The ship repair and maintenance service market is anticipated to reach a valuation of USD 28,169.45 million in 2024, with expectations of growing to USD 53,375.69 million by 2034, driven by a steady Compound Annual Growth Rate (CAGR) of 6.6% over the forecast period.

The expansion of the manufacturing industry and increased industrialization have fueled the demand for logistics services, particularly those based on maritime transport, thereby boosting the ship repair and maintenance services market.

As industrialization accelerates and with a growing preference for cost-effective seaborne trade over more expensive airborne logistics, the market for ship repair and maintenance services continues to expand.

The rise in industrial manufacturing and the effects of globalization have significantly increased the demand for ship repair and maintenance services. Additionally, the reconditioning and transformation of ships are playing a key role in driving market growth.

Government initiatives aimed at enhancing shipbuilding and maintenance practices through tax incentives, coupled with increasing private investments, are expected to further propel the adoption of ship repair and maintenance services.

For ship owners, regular repair and maintenance are essential for ensuring the longevity and safety of their vessels and cargo, leading to long-term savings in both time and costs.

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Key Points

The Asia Pacific region tops the tally when it comes to the consumption of ship repair and maintenance services, while China holds the biggest market share of USD 9.1 Billion in 2023 and highest CAGR of 7.4 during the forecast period.
Followed by China, South Korea to cross a value of USD of 4.2 Billion by 2033.
Being another significant market for ship repair and maintenance services, US thrives at a CAGR of 4.8% during the forecast period while expecting a value of USD 1.6 Billion by 2033.
Oil and chemical tankers segment performs better than its counterparts in the vessel type category as it goes through the regressive routine and carries tons of oil through the longer commercial sea routes. It is expected to thrive at a CAGR of 6.4% during the forecast period.
The service and maintenance of hull is the ship’s watertight enclosure and it tops the service type category with a CAGR of 6.2% by 2033.

Competitive Landscape

The competitors focus on the addition of newer maintenance equipment and technology. Furthermore, the vendors also work on the “One stop shop” model to provide each service type under one roof.

Key players in the ship repair and maintenance services market are: Damen Shipyards Group, Sembcorp Industries Ltd, Cochin Shipyard Limited, China Shipbuilding Industry Corporation, Fincantieri S.p.A., Dae Sun Shipbuilding & Engineering Co. Ltd, Hyundai Mipo Dockyards Co. Ltd, Arab Ship building and Repair Yard Company, Keppel Corporation Limited, United Shipbuilding Corporation, Alexandria Shipyard, Dormac Ship repairs, Astican, and HOSEI CO. LTD

For instance:

Arab Shipbuilding and Repair Yard Company has revisited the business model and added ship recycling in its services. Other than this, the company provides ship repair & conversion, rig repair, and navel repair along with fabrication and engineering.
Dormac Ship repairs introduce its repair services like CNC machining, fabrication, cofferdam repairs, electrical circuit repairing etc.

Key Segmentations

By Vessel Type:

Oil and Chemical Tankers
Bulk Carriers
General Cargo
Container Ships
Gas Carriers
Offshore Vessels
Passenger Ships and Ferries
Mega Yachts and Other Vessels

By Service Type:

General Services
Dockage
Hull Part
Engine Parts
Electric Works
Auxiliary Services

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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Automotive Turbocharger Market Expected to Reach USD 41.5 Billion by 2033, with a CAGR of 9.6% | FMI Reports

The global automotive turbocharger market is projected to reach USD 16.6 billion in 2023, with expectations to expand to USD 41.5 billion by 2033, driven by a robust Compound Annual Growth Rate (CAGR) of 9.6% over the forecast period.

Turbochargers are essential for enhancing engine efficiency by compressing intake air, which improves combustion and power output. As governments worldwide enforce stricter emission regulations, the demand for more fuel-efficient vehicles is pushing automakers to adopt turbocharging technology.

In turbocharged engines, exhaust gases power a turbine that drives an air compressor. This compressor forces additional oxygen into the engine’s cylinders, allowing more fuel to burn and significantly increasing fuel efficiency. By boosting the air pressure entering the engine, turbochargers play a crucial role in improving overall fuel economy.

Variable geometry (VG) turbochargers, known for their high efficiency across various engine speeds, outperform traditional wastegate turbochargers. Their superior performance stems from variable mechanism stator vanes positioned at the turbine rotor blade’s input nozzle, allowing for optimal supercharging efficiency.

When combined with Miller cycle direct injection gasoline engines, VG turbochargers can significantly enhance a vehicle’s fuel efficiency. The use of direct injection, along with cooled exhaust gas recirculation, raises the knocking limit, making VG turbochargers an ideal choice for improving fuel economy.

E-turbochargers, or electric turbochargers, are expected to gain significant traction during the forecast period. Unlike conventional turbochargers, e-turbochargers utilize an electric motor to spool up the turbo, reducing turbo lag. Additionally, they can generate electricity for the vehicle’s network, potentially reducing the alternator’s load on the engine and conserving fuel.

The growing demand for improved engine performance is driven by the need for higher power density and precise torque control, especially in downsized and down-speeded engines. This approach not only enhances fuel efficiency but also maintains dynamic vehicle performance, positioning turbochargers as a vital component in modern automotive design.

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Key Takeaways from the Automotive Turbocharger Market Report:

In the historical period 2018 to 2022, the global automotive turbocharger industry expanded at a CAGR of 8.7%.
The United States automotive turbocharger industry is expected to reach a valuation of US$ 1.8 billion by 2033.
Germany automotive turbocharger industry is expected to top a value of USD 1.4 billion by 2033.
By product type, the VGT segment is expected to dominate the automotive turbocharger industry with a CAGR of 9.8% from 2023 to 2033.
China automotive turbocharger industry is anticipated to cross a valuation of USD 3.1 billion in 2033.

Competitive Landscape:
Several businesses would concentrate on increasing the range of products they offer to cater to demands of multiple vehicle segments. Offering turbochargers for a wider range of engine sizes and configurations is one way to do this. Additionally, turbochargers are being developed for alternative fuel vehicles such as electric and hydrogen-powered cars.

A select range of participants are making investments to create strategic alliances and partnerships with other businesses in the automobile sectors. Manufacturers, suppliers, and IT firms are a handful of these.

They want to create fresh and inventive products by utilizing their resources and experience. To increase their footprint, manufacturing organizations are putting even more of an emphasis on new product launches and acquisition tactics.

Leading Key Players:

Continental AG
Garett Motion Inc.
Cummins Inc.
Mitsubishi Heavy Industries Ltd.
Toyota Industries Corporation
Eaton Corporation Plc
BorgWarner Inc.
IHI Corporation
BMTS Technology GmbH & Co. KG
Weifang FuYuan Turbochargers Co., Ltd.

For instance,

Cummins Inc. was entirely bought Meritor, Inc. in 2022. The latter is a well-known manufacturer of drivetrain, mobility, brakes, aftermarket, and electrical powertrain solutions for commercial vehicles & industrial industries.
Toyota Motor Corp.’s Silicon Valley research branch acquired Renovo, a producer of automotive operating system software, in 2021. The company intends to speed the development of fully autonomous, networked vehicles.

Automotive Turbocharger Market Segmentation:

By Product Type:

Waste Gate
VGT
Twin Turbo

By Vehicle Type:

Passenger Cars
LCV
HCV
Agricultural Machinery
Construction Machinery

By Fuel Type:

Gasoline
Diesel

By Sales Channel:

OEM
Aftermarket

By Actuator:

Hydraulic
Electric
Pneumatic

By Region:

North America
Latin America
Asia Pacific
Middle East & Africa
Europe

About Future Market Insights (FMI)

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

Contact Us: