Market Research Blog – Page 1377 – New Product Development

Dietary Supplement Market Poised to Reach USD 170.1 Billion by 2034, Growing at a 9.5% CAGR | FMI Study

The global dietary supplement market revenue is poised for significant growth, with projections indicating it will attain a valuation of approximately USD 170.1 billion by 2034. This represents a steady compound annual growth rate (CAGR) of 9.5% from 2024 to 2034. The market is expected to reach USD 74.3 billion by the end of 2024, driven by several key trends and factors that are shaping the industry.

Key Trends in the Dietary Supplement Market

The increasing demand for probiotics and prebiotics aimed at enhancing digestive health is one of the leading trends in the market. Government agencies worldwide are focusing on revising food laws, which is likely to impact product claims and labels, influencing consumer choices. Additionally, the growing demand for sports nutrition supplements, particularly among bodybuilders and athletes, is driving market growth as these products help improve endurance and strength.

Market Dynamics and Growth Factors

Probiotics and Prebiotics: The rising awareness of gut health and the benefits of probiotics and prebiotics is driving demand. Consumers are increasingly seeking products that support digestive health and overall well-being.
Sports Nutrition Supplements: With a surge in the number of health-conscious individuals and athletes, there is a growing demand for supplements that enhance physical performance. Sports nutrition supplements are gaining traction for their ability to support muscle growth, endurance, and recovery.
Government and Private Sector Initiatives: Various government NGOs and private organizations are creating awareness about the nutritional benefits of vitamins and minerals, further boosting market demand. These initiatives are particularly focused on reducing nutrient deficiencies among different population segments.
Natural Health Supplements: There is an increasing preference for natural health supplements among consumers, especially sports enthusiasts. These supplements are sought after for their ability to reduce wear and tear, enhance muscular strength, and restore energy levels.

Herbal Supplement Market Insights

The use of dietary supplements among young athletes to decrease body fat, enhance muscle tone, and manage weight is projected to accelerate market growth. Multivitamin and mineral supplements are gaining traction due to the need for essential nutrients among athletes engaged in rigorous exercise. The consumption of multivitamin supplements helps safeguard health and fill nutritional gaps caused by dietary preferences, food allergies, or restrictive diets.

Innovations and Technological Advancements

The dietary supplement market is also benefiting from innovations in microencapsulation and nanoencapsulation technologies. These advancements allow manufacturers to add specialty ingredients to their products, catering to the rising demand for scientifically proven supplements. Microencapsulation technology ensures a proper supply of vitamins and minerals in one’s diet, making it possible to fortify staple food items in developing countries where affordability is a concern.

Country-wise Insights

The US dietary supplement market is expected to witness a CAGR of 6.7% through 2034. Factors such as the prioritization of holistic wellness, increasing consumer interest in supplements for overall well-being, and stringent safety standards by the FDA are driving growth.
China is projected to showcase a CAGR of 7.8% during the evaluation period, driven by government regulations, growing consumer awareness, and the rising geriatric population.
The dietary supplement market in Australia is anticipated to expand at a steady CAGR of 8.4% from 2024 to 2034, fueled by the high influx of tourists, a wellness-focused culture, and the availability of herbal supplements.

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Competitive Landscape

Key players in the dietary supplement market are BASF SE, Abbott Laboratories, Bayer AG, Glanbia Plc, Royal DSM N.V., Now Health Group, Inc., Herbalife International, Amway Corp., ADM, Arkopharma, GlaxoSmithKline plc, and Ayanda.

Leading manufacturers are focused on developing high-quality dietary supplements, coupled with offering gluten-free products with high nutritional value. The increasing demand for value-added products in several countries is expected to create new opportunities.

Recent Dietary Supplement Market Developments

In January 2024, BioAdaptives Inc., a prominent manufacturer and supplier of innovative, all-natural dietary supplements, announced the launch of a specialized research and development Food Lab. It is dedicated to the development of natural powder products and treats for animal and human consumption.
In January 2024, Smart Protein, which is part of The Original Fit Factory’s wellness chain of products and services, announced the launch of an all-new, high-quality active wellness supplement across 142 Tesco stores in the United Kingdom.

Dietary Supplement Market Outlook by Category

By Form:

Soft Gel (Capsule)
Gummies
Powders
Liquid
Bars
Others

By Ingredients:

Vitamin
Minerals
Botanical Supplements
Amino Acid
Others

By Application:

Weight Management
Immune & Digestive Health
General Health
Heart Health
Sports Nutrition
Brain/Mental Health
Bone & Joint Health
Others

By End-user:

Children
Women
Men

By Sales Channel:

Store-based Retailing
- Hypermarkets/Supermarkets
- Conventional Stores
- Drug Stores & Pharmacies
- Other Retailers
Online Retailing

By Region:

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

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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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Military Embedded Systems Market is Expected to Reach a High Valuation of USD 3.6 Billion by 2032 | Future Market Insights, Inc.

The military embedded systems market is expected to develop at an 8.1% CAGR from 2022 to 2032, from USD 1.6 Billion in 2022 to USD 3.6 Billion by 2032. The demand for military embedded systems is driven by an increase in the use of multi-core technology, an increase in demand for commercial off-the-shelf hardware, and an increase in the deployment of electronic warfare systems.

The high cost of military-embedded systems, on the other hand, is restricting the expansion of the military embedded systems market. The sales of military embedded systems are predicted to grow as cloud computing, network-centric warfare systems, and wireless technologies open up new doors in the sector.

The demand for military embedded systems is rising as multi-core technology enables designers to adapt to future hardware requirements while staying under budget limits. Due to the widespread usage of multi-core technology in electronic warfare systems, the sales of military embedded systems are predicted to grow.

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Furthermore, due to the increased military embedded systems market, the military embedded systems market is expected to rise rapidly during the forecast period. In addition, the defense sector has recently seen a surge in demand for cloud computing technology.

The rise in portable devices with embedded systems, technological advancements, electronic warfare, network-centric warfare, and wireless technologies will all contribute to increased demand for military embedded systems in the coming years. Every country is now attempting to strengthen its defense and military by incorporating sophisticated technologies, which will play a significant role in the growth of the global military embedded systems market revenue.

In 2019, the U.S. Naval Research Laboratory granted Abaco Systems Inc. (an open architecture and electronic system manufacturing business based in Alabama, U.S.) a contract of 24 million dollars for the development of a high-performance embedded system for electronic warfare.

Electronic jamming capabilities will be provided by an embedded electronic warfare system. The demand for military embedded systems will be driven by such embedded computer system R&D to develop electronic warfare capabilities.

With a projected CAGR of 7.6% by 2032, the United States is expected to overtake other regions as the market leader for military embedded systems. With a predicted CAGR of 7.8% by 2032, Intelligence, Surveillance & Reconnaissance is expected to dominate the military embedded systems market.

Key Takeaways from the Military Embedded Systems Market Report:

From 2022 to 2032, the blade server segment is expected to lead the military embedded systems market in terms of server architecture. Due to the increasing deployment of modern blade servers, this sector is projected to lead the military embedded systems market.
According to the platform, the land segment is predicted to lead the industry with a CAGR of 7.8% during the forecast period.
With a CAGR of 7.8%, the intelligence, surveillance, and reconnaissance (ISR) segment is predicted to lead the military embedded systems market in terms of application.
The U.S. is predicted to lead the military embedded systems market with a CAGR of 7.6% during the forecast period. Increased investments in defense equipment and fighting capabilities, as well as the installation of network-centric infrastructure, are likely to propel market growth in the U.S.
The United States and Canada are the two largest countries in this region, with the United States leading the military embedded systems market in North America. The United States is a technologically advanced country with enormous potential for military electronics investment. North America is the primary distribution center for technologically advanced applications. The United States is a technologically advanced country with large investment potential in embedded system technologies. Market expansion in this region was aided by increased investments in next-generation communication technology and integrated warfare capabilities.

Leading Key Players:

Mercury Systems, Inc.
Curtiss-Wright Corporation
Advantech Co., Ltd.
SMART Embedded Computing
Kontron AG

Recent Developments:

Abaco Systems unveiled its new 3U CompactPCI Robust Single Board Computer in April 2020, built for a wide range of demanding applications in defense, aerospace, industrial, and commercial areas where rugged reliability in hostile environments is critical. The IMP3B CompactPCI is small in size, weight, and power consumption (SWaP). CompactPCI’s military embedded systems market share has grown as a result of the new 3U CompactPCI boards, which are utilized for demanding military applications (such as ISR, C2, weapon and fire control, and avionics).
Kontron AG expanded its modular open systems architecture product range with a new VX305H-40G 3U OpenVPX single-board computer module in February 2020. This module’s advanced processing and networking capabilities will be useful for defensive sensor platforms.
Kontron AG inked a distribution deal with Mouser Electronics in February 2020 for its computer-on-modules (COMs), including COM Express modules based on the Intel Atom E3900 series, Pentium processor N4200, and Celeron processor N3350.
Elma Electronic (Switzerland) collaborated with Curtiss-(US) Wright’s defense solutions business in January 2019 to improve a 3U OpenVPX convergence development platform aimed to support the C4ISR CMOSS.
Mercury Systems, Inc. spent USD 15 million in October 2019 to grow its bespoke microelectronics business, offering cutting-edge commercial silicon technology to the USA Department of Defense (DoD). This advancement will assist the firm in establishing a strong footprint in chipset technology integration and rapid customization, both of which are excellent for next-generation edge processing applications.

Military Embedded Systems Market Segmentation:

By Component:

Hardware
- Processor
- Memory
- Converter
- Graphical Processing Unit (GPU)
- Others
Software

By Application:

Radar
Command & Control
Avionics
Electronic Warfare
Communication & Navigation
Weapon Fire Control System
Others

By Platform:

Land
Marine
Space
Airborne

By Technology:

Mist Computing
Fog Computing
Edge Computing

By Services:

Design, test & certification
Deployment
Renewal
Seamless life cycle support

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Digital Therapeutics and Wellness Market is Projected to Increase at a Strong CAGR of 14.6% by 2033 | Future Market Insights, Inc.

The global digital therapeutics and wellness market is projected to reach USD 7,797.6 million in 2023 and USD 30,553.8 million, growing at an annual rate of 14.6% between the years 2023 and 2033. This means that there’s a significant and steady rise expected in the use of digital solutions for improving health and well-being over the next decade, creating substantial opportunities for businesses and individuals alike.

Demand for digital therapeutics and digital wellness solutions is gaining impetus globally as the need to cut down on exorbitant healthcare prices is increasing. Digital therapeutics are not only non-invasive but also cost-effective alternatives to conventional medicine. With the use of digital therapeutics, patients gain access to personalized as well as affordable health care.

One of the main reasons why the digital therapeutics and wellness industry is expected to grow significantly in the coming years is because more and more people around the world are using smartphones. This means that there’s a greater opportunity for digital health tools and wellness apps to reach a wide audience.

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Additionally, the use of digital health technology is cost-effective for both healthcare providers and patients. This means that it’s a more efficient and affordable way to deliver healthcare services and manage one’s health. People are also increasingly looking for healthcare systems that prioritize their needs and provide patient-centered care, which is another factor driving the growth of this industry.

So, in simple terms, the increasing use of smartphones, the cost-effectiveness of digital health tech, and the demand for healthcare that focuses on patients are all coming together to make the digital therapeutics and wellness market grow in the coming years.

In April 2021, about 4.27 billion people around the world were using the internet, which is more than 60% of the total global population. As more people connect online, we can expect more people to become aware of smart health tracking. Additionally, efforts from governments to create supportive rules and some early indications of insurance coverage, along with the rising number of long-term health issues, are also likely to make the smart health tracking market grow.

Key Takeaways from the Digital Therapeutics and Wellness Market:

North America is projected to constitute more than 29.5% of the global market in 2023.
Another noteworthy market in the digital therapeutics and wellness industry is Europe, which accounted for 21.9% market share in 2022.
The United States gained an important position globally since it contributes almost 18.6% market share.
Germany’s digital therapeutics and wellness industry gained a 9.5% value share in 2022.
Japan’s digital therapeutics and wellness industry contributed a 3.9% market share in 2022.
Australia market acquired a 2.9% market share in 2022.
India’s digital therapeutics and wellness industry is ascending high at a CAGR of 16.5% over the forecast period.
China’s market is projected to expand at a CAGR of 13.2% over the estimated time period.
The United Kingdom market is expected to propel at a CAGR of 15.1% in the years to follow.
Based on type, digital therapeutics, and wellness software procured a market share of 56.8% in 2022.
Based on application, digital therapeutics and wellness for diabetes and prediabetes gained an 18.5% market share in 2022.

Key Players Operating in the Digital Therapeutics and Wellness Market

Noom
Livongo Health
Omada Health
WellDoc
Pear Therapeutics
Proteus Digital Health
Propeller Health
Akili Interactive Labs
Better Therapeutics
Happify
Kaia Health
Mango Health
Click Therapeutics
Canary Health

Market Watch: New Developments in the Market

In March 2020, Ginger procured Live Better’s technology asset. The company emphasizes on mental health tools designed for smartphones.
Philips revealed that it has acquired Wellbeing Digital Solutions (WDS) in April 2021. The latter is a digital therapeutics firm that creates digital solutions to enhance patient engagement and outcome for chronic disorders. With this acquisition, Philips is expected to diversify its digital health portfolio and increase its capabilities in chronic disease management.
Novartis revealed in June 2021 that it came into definitive agreement to procure a digital therapeutics firm called Akili Interactive Labs. The latter company focuses on developing treatments for psychological and neurological conditions. Post this acquisition, Novartis gained access to the digital therapeutics’ platform of Akili, which consists of an array of digital therapeutics programs and a library of clinical evidence.
Merck unveiled in January 2021 that it has come into a definitive agreement to obtain HealthPrize Technologies, which is a digital therapeutics company. The latter company aims to empower patients regarding their medications. With this acquisition, Merck widened its digital health offerings and expanded its visibility in global market.
Illumina revealed in January 2021 that it has come into a definitive agreement to procure GRAIL, which is a digital therapeutics company that focuses on creating and offering multi-cancer early detection products.

Digital Therapeutics and Wellness Industry Segmentation:

By Type:

Software
Devices

By Application:

Cardiovascular Disease and Hypertension
Diabetes and Prediabetes
Obesity and Weight Loss
Smoking Cessation
Others

By Region:

North America
Latin America
Europe
Asia Pacific
The Middle East and Africa

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Digital Map Market is Expected to Reach USD 73.1 Billion, Globally by 2033 at 14.8% CAGR: Future Market Insights, Inc.

The digital map market is estimated to secure a valuation of USD 18.3 billion in 2023 and is predicted to reach USD 73.1 billion by 2033. The market is anticipated to register a CAGR of 14.8% from 2023 to 2033.

How is the Popularity of Digital Map Growing Among End User Companies?

The popularity of digital maps is rapidly growing due to various benefits and advanced features among end-user companies as follows:

Enhanced Navigation and Geolocation: Digital maps provide correct navigation and geolocation services to optimize business operations. The end-user companies can easily track delivery routes, service locations, and sales territories to save costs and improve efficiency.
Real-time Data: The adoption of digital map is rapidly growing as it provides real-time data, including weather updates, customer feedback, traffic conditions, and others. It allows quick decisions, optimizes workflow, and responds to changing circumstances.
Customization and Personalization: Businesses are adopting customized digital maps for internal use to enhance their brand image and improve consumers’ experiences.
Data Visualization and Analysis: Digital maps are easy to use by companies as they provide visual data and complex information simultaneously. It identifies tracks, patterns, and insights to make it easier for companies. These companies can make decisions, strategies, and resource allocations.
Integrated with Other Systems: The demand for digital maps is rapidly growing with integrated with other businesses, including enterprise resource planning and customer relationship management. It improves data flow and streamlines processes and promotions.
Mobile Accessibility: Digital maps are adopted in smartphones and tablets due to easy access with features including sales team, service technique, and empower field works. Companies can get local information efficiently with mobile accessibility with digital maps.

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Key Takeaways:

The digital map market is estimated to secure a valuation of USD 73.1 billion with a CAGR of 14.8% during the forecast period.
Historically, the market secured a valuation of USD 10 billion with a CAGR of 12.7% between 2018 and 2022.
Based on type, software solutions are leading the global market by registering a share of 43.2% during the forecast period.
Based on application, outdoor mapping is secure a maximum share of 75.2% by 2033.
The United States is dominating the global market by capturing a share of 16.5% during the forecast period.

How are Key Players Adding Value in the Global Market?

The number of key players in the region highly fragments the market. These key players play a vital role in the global market by investing vast amounts in research and development activities. These players focus on customers’ requirements and innovate unique and improved products to their satisfaction.

Key players are adopting various marketing tactics to upsurge the global market collaborations, mergers, acquisitions, partnerships, and product launches. These strategies allow these players to flourish in the market at another level.

Key Players in the Global Digital Map Market are:

TomTom NV
HERE Technologies
Apple Inc.
Alibaba Group
Navinfo Co., Ltd
INRIX Inc.
Baidu, Inc.
MapBox Inc.
Environmental Systems Research Institute (ESRI)
Alphabet Inc.

Recent Developments in the Global Market are:

Google Maps introduced various updates to enhance mapping capabilities, such as integrating augmented reality. The company also expands the services such as indoor maps for airports, large buildings, hotels, and shopping malls.

Digital Map Market by Category

By Type:

Software Solutions
- Web-based
- Desktop
- Mobile App
Maps (data)
Services

By Application:

Indoor Navigation/Positioning
- Airports
- Retail Stores
- Health Care Facilities
- Other
  - Educational Institutes
  - Museums
  - Other Commercial Buildings
Outdoor Maps
- Automotive
- Mobile & Internet
- Government & Utilities
- Real Estate/Construction
- Others
  - Energy & Mining
  - Agriculture

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Food Certification Market Forecasted to Achieve 10.4% CAGR by 2034 as Awareness of Safe and Ethical Food Production Rises | FMI

According to the latest analysis, the global food certification market (Mercado de Certificación de Alimentos) value is expected to grow from USD 11,053.9 million in 2024 to USD 28,405.7 million by 2034. It will likely exhibit strong growth during the forecast period, with overall demand rising at a CAGR of 10.4%.

Several factors are expected to drive the food certification industry forward during the assessment period. These include:

Food certifications play a crucial role in ensuring the safety, quality, and sustainability of food products.
Consumers are becoming conscious about the food they consume and are actively seeking products with certifications that validate specific attributes such as organic, non-GMO, fair trade, gluten-free, and animal welfare.
Certification bodies are also evolving to offer a wide range of certification programs tailored to different sectors and specific requirements. Furthermore, regulatory bodies and government agencies are implementing strict regulations and guidelines to maintain food safety standards and protect consumer interests.
The global food certifications market is expanding as many countries and regions adopt certification programs. Additionally, advancements in technology, such as blockchain-based certification systems, are emerging to enhance transparency and traceability in the food supply chain

The rising importance of food certifications like BRC Food, IFS FOODs, ISO 2203, FSSC FOODS, HACCP, Global GAP, and others is expected to boost the global market. Each certification serves a specific purpose to maintain product safety, quality, and integrity across different sectors.

Food certifications are essential for manufacturers, retailers, and regulatory bodies, ensuring that food products meet specific safety standards, quality, and ethical production practices. They also reduce risks associated with foodborne illness, contamination, fraud, and noncompliance with regulations.

As consumer awareness grows regarding health, sustainability, and ethical concerns, the demand for certified products is expected to increase globally. Emerging regions such as the Asia-Pacific and Latin America present key opportunities for these certifications.

Growing health-conscious consumers and middle-class populations are projected to further drive demand for safer and higher-quality food certification products. Hence, the target market is projected to thrive rapidly through 2034.

Key Takeaways from the Food Certification Market Report:

The global food certification market is estimated to be valued at USD 11,053.9 million in 2024.
The market is expected to surge at a CAGR of 10.4% by 2034.
In the United States, the food certification market is expected to exhibit a CAGR of 8.6% by 2034.
India is expected to grow at a CAGR of 8.5% during the forecast period.
Based on application, the dairy products segment is expected to reach USD 3,933.3 million in 2034.

“The food certification market consists of certification bodies, inspectors, and consultants who verify compliance with standards. These bodies serve both manufacturers who rely on these certifications to differentiate their products and consumers who trust them to make ethical and informed decisions. Growing consumer awareness about food safety and quality is expected to play a key role in boosting the food certification industry through 2034.” says Nandini Roy Choudhury, Client Partner at Future Market Insights

The popularity of Multi-Domestic Food Service and E-Retail Chains to Shape the Market

With the rapid shift to processed and convenient food, food certification remains of paramount importance. The emergence of e-commerce platforms and online food delivery services is estimated to propel the need for food certification worldwide.

The advent of multi-domestic food services, especially in India and China, is compelling governing bodies and agencies to monitor the safety and quality of food. The imposition of several food certification policies is helping the growth of the market.

There are several companies adopting food certification methods to meet the burgeoning demand for halal and ‘free-from’ certification food. Food producers are adopting these methods to maintain their position in the industry and to garner consumers’ trust. This particularly is going to aid the market growth in the coming years.

Demand for halal food products from the Muslim countries in the Middle East has amped up the demand for food-certification of meat products. Hence, food certifications continue to gain traction as a necessity with the globalization of the food sector.

Competitive Landscape

The competitive landscape of the food certification market is characterized by a diverse array of certification bodies, auditors, and consultants globally. Key players offer a wide range of certification services related to food safety, quality, and sustainability.

Regional and national certification companies play significant roles in specific markets, providing local expertise and support. The market is dynamic, with ongoing innovations in certification standards and increasing demand driving competition among industry players to maintain credibility and relevance in the evolving food industry.

For instance,

In November 2022, SCS announced the launch of the plant-based certification program. The program advances plant-based options and recognizes development in different buyer items.
In September 2022, Intertek Group PLC presented a vegan food certification mark to guarantee total belief in item claims.

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Key Companies Profiled in the Food Certification Industry

SGS SA
Bureau Veritas SA
Thermo Fischer Scientific Inc.
ALS Limited
AsureQuality Limited
UL Registrar LLC
Aspirata Auditing Testing And Certification (Pty) Ltd.
Dekra SE
Lloyd’s Register Group Services Limited
Indocert
Intertek Group Plc.
Eurofins Scientific SE

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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global food certification market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.

The study incorporates compelling insights on the food certification industry based on certification type (BRC Food, IFS Food, ISO 22000, FSSC 22000, HACCP, Global GAP, Organic, Kosher, Halal, and others) and application (bakery & confectionary, dairy products, processed & packaged food, infant food, alcoholic & non-alcoholic beverages, functional food, meat & poultry products and seafood) across several regions.

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Asparagus Market Projected to Surpass USD 30,884.4 Million by 2033, According to FMI

The asparagus market (Mercado de espárragos) is expected to be valued at US$ 23,992.8 million in 2023. The market is expected to reach US$ 30,884.4 million by 2033. The industry is estimated to expand at a CAGR of 5% from 2023 to 2033. The market is a dynamic sector of the global agricultural industry, influenced by diverse factors ranging from consumer health trends to technological advancements.

One significant trend shaping the asparagus market is the increasing demand for organic and sustainably grown produce. Consumers are seeking healthy options and environmentally friendly choices, leading to a rise in organic asparagus farming practices. Sustainability initiatives, including efficient water usage and reduced chemical inputs, are becoming integral to asparagus cultivation.

Another key factor driving the asparagus market is globalization. Asparagus is grown in various countries and regions worldwide, allowing for a year-round supply to meet the demands of diverse markets. This globalization has also led to challenges such as market competition and price fluctuations. Countries like Peru and Mexico are major exporters, catering to the off-season demand in North America and Europe.

In recent years, food processing and packaging innovations have expanded the market beyond fresh asparagus. Ready-to-eat meals, canned products, and asparagus-based supplements are gaining popularity, diversifying the industry and creating new revenue streams.

Ongoing research and development are uncovering novel applications for asparagus extracts in pharmaceuticals and cosmetics, adding a new dimension to the market. Despite challenges, the asparagus market continues to adapt and flourish, driven by evolving consumer preferences, sustainable practices, and innovative product development.

The asparagus market in the United States remains to be shaped by a variety of variables. Health-conscious customer choices drive consumption, as asparagus is a healthy vegetable with vitamins and minerals.

Key Takeaways from the Asparagus Market Report:

The asparagus market in the United Kingdom is expected to develop at a 2.9% CAGR from 2023 to 2033.
The market in China is anticipated to continue to rise at a 6% CAGR until 2033.
The asparagus market in Japan is expected to expand at a 5% CAGR.
The South Korean asparagus market is expected to grow at a 4.8% CAGR until 2033.
Green asparagus is predicted to emerge as a key segment. From 2023 to 2033, the CAGR is expected to be 4.5%.

“With robust financial backing, developments in technology, and a growing middle class interested in healthy eating, the forecast for the asparagus market in China remains beneficial, with prospects for both internal consumption and global commerce,” Nandini Roy Choudhury, Client Partner at Future Market Insights.

Competitive Landscape:

Technological advancements in farming techniques, post-harvest processing, and adherence to stringent quality standards provide a competitive edge. Branding, marketing strategies, and the development of diverse asparagus-based products influence the market.

Teboza, a Dutch firm, released the Tasty Spears asparagus concept in July 2021. The company hopes that by introducing Tasty Spears, customers will be able to enjoy well-nourished, fresh asparagus throughout the year.
The New Zealand Asparagus Council and Tauranga-based Robotics Plus collaborated with New Zealand asparagus growers in September 2021 to build a business-scale automated computerized asparagus harvester. The new reaper would help farmers access significant overseas markets by addressing labor shortages.

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Segmentation Analysis of the Asparagus Market:

By Type:

Fresh
Canned
Frozen

By Color:

White
Green

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia & Pacific
East Asia
The Middle East & Africa

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Acai Berry Market Growth Accelerates: 8.5% CAGR Expected, Reaching USD 4.27 Billion by 2034

The acai berry market (Mercado de bayas de acai) is expected to reach a value of US$ 1.89 billion in 2024 and US$ 4.27 billion by 2034. The market is projected to expand at a CAGR of 8.5% through 2034. The industry is growing due to health consciousness, product diversification, global foods trends, e Commerce accessibility, and effective marketing strategies.

Over the next ten years, it is expected that public awareness of the potential health benefits of acai berries will increase, leading to a surge in demand for the fruit. Due to the high antioxidant content of acai berries and growing public awareness of their health advantages, the market for dietary supplements and pharmaceuticals has expanded rapidly.

Acai is used in a variety of cosmetic products, such as lip balms, face wash, moisturisers, and others, which helps to diversify the market.

Furthermore, acai berries are being utilized by the food sector to create healthy snacks and sweets, which is anticipated to increase the demand for acai berries soon. The production and consumption of acai berries have significantly increased due to this trend, propelling the market’s expansion.

Due to the several health advantages of acai berries and the rising popularity of various food and beverage items, the market is expected to develop steadily in the forthcoming decade.

“The market for acai berries is anticipated to expand gradually due to the growing awareness of the health benefits associated with them. The use of acai berries in various food and beverage items is becoming popular among health-conscious customers.

This leads to increased demand for acai-based supplements, juices, smoothies, and health-conscious snacks and sweets,” –Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Takeaways from the Acai Berry Market

The United States acai berry industry is projected to experience a CAGR of 6.2% through 2034.
The demand for acai berries in Germany is expected to rise at a CAGR of 6.8% through 2034.
The Chinese acai berry market is anticipated to witness a CAGR of 9.5% through 2034.
The United Kingdom’s market for acai berries showcases a CAGR of 5.9% through 2034.
The Indian acai berry market is expected to grow at a CAGR of 10.3% through 2034.

Competitive Landscape of the Acai Berry Market

Acai berry extracts are added to supplements by nutraceutical businesses, which expands and diversifies the market. Global market access, quality standards, and sustainable practices are advocated by market participants such as wholesalers and farmers.

Consumer education and awareness efforts on acai berries’ health advantages help boost the acceptability of by-products and the market demand. The market players use various tactics, such as innovative product launches, imaginative marketing campaigns, and smart partnerships, to bolster their branding.

Success in this context mostly depends on the caliber of the products and the companies’ ability to engage and resonate with the target audience effectively.

Firms that can negotiate and follow new regulations are expected to have a competitive advantage. The regulatory framework is more than just a barrier; it influences the competitiveness of the acai berry industry.

Exhaustive Market Report: A Complete Study

Key Companies in the Acai Berry Market

Sambazon, Inc
Acai Roots, inc.
Acai Frooty
Nativo Acai
Acai Exotic LLC
Jamba Juice Inc
Sunfood
Phyto Nutraceutical’s
Naked Juice Company
The Coca-Cola Company

Key Segments

By Form:

Pulp
Dried

By Application:

Food and Beverage
Nutraceuticals
Cosmetics and Personal Care
Others

By Region:

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

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Yogurt Market Valuation to Surge to USD 79,147.2 Million by 2033, Growing at a 5.9% CAGR

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The global yogurt industry (Mercado de yogur) is anticipated to surge from US$ 44,808.5 million in 2023 to US$ 79,147.2 million in 2033. It is anticipated to expand rapidly between 2023 and 2033, with a CAGR of 5.9%.

Yogurt’s nutritional benefits, which include the reduction of type 2 diabetes, colon cancer, and osteoporosis risk, are expected to drive growth on a global scale. It can also help promote good digestion and strengthen the immune system.

Sales are expected to be boosted in the medium term by elements including accessibility of a wide range of tastes, awareness of yogurt’s nutritional content, and surging public awareness of the significance of a healthy diet. This is further motivating producers to focus on creating goods with unique flavors and health advantages.

Yogurt can also be found fortified with extra vitamins and minerals, making it a nutritious snack option. Recipes frequently incorporate yogurt to add taste and texture. It can be used as a taco or salad topping, as well as a substitute for sour cream or mayonnaise in dips.

Protein shakes and cereal bowls both frequently contain yogurt. Yogurt comes in a wide range of tastes, including savory flavors such as ranch and buffalo, as well as fruity and sweet ones. Yogurt sales will increase during the projected period, according to Future Market Insights, as online platforms quickly supplement in-store purchases.

Demand for yogurt is rising along with the desire for portable snacks. Yogurt manufacturers strive to advance their industries and make goods with consistent, superior potencies at affordable prices by developing new technology.

Key Takeaways from Yogurt Market Study

The USA yogurt market is anticipated to remain dominant with 4% of the global market share during the estimated time frame.
The global yogurt industry witnessed growth at a CAGR of 4% between 2018 and 2022.
China yogurt market is predicted to reach a valuation of US$ 2,643.7 million by 2033.
India yogurt industry is anticipated to expand at a significant CAGR of 9% over the forecast period.
The United Kingdom yogurt market is set to register a lucrative CAGR of 1% in the next ten years.

“Due to significant demand for low-fat, low-sugar desserts, the yogurt market is anticipated to surge during the forecast period. Macroeconomic factors such as rising need for ice cream alternatives among kids and high health consciousness might have a positive impact on the market,” says a lead analyst at Future Market Insights.

Competitive Landscape: Yogurt Market

Due to the presence of several local and regional competitors, the yogurt industry is extremely fragmented and competitive on a global level. Key companies are using a variety of marketing tactics such as partnerships, purchases, mergers, and collaborations to stay on top. Stakeholders in the yogurt sector are more interested than ever in sustainability and certification.

For instance,

The new Silk Greek yogurt was presented by Danone, a French multinational food products company in August 2021. There are four flavors to choose from: lemon, vanilla, blueberry, and strawberry. The business hopes to provide its clients with plant-based yogurt options with this launch.

Get More Valuable Insights into Yogurt Market

In its latest offering, Future Market Insights offers a thorough study of the yogurt market, covering historical demand data (2018 to 2022) and forecast data from 2023 to 2033.

The study provides compelling insights into the global yogurt market based on product type (yogurt drinks, Greek yogurt, set yogurt, frozen yogurt), distribution channel (hypermarkets, retailers, convenience stores, specialist retailers), and region.

Detailed Market Study: Full Report and Analysis

Yogurt Market Outlook by Category

By Product Type:

Yogurt Drinks
Greek Yogurt
Set Yogurt
Frozen Yogurt

By Distribution Channel:

Hypermarkets
Retailers
Convenience Stores
Specialist Retailers

By Region:

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

About the Food & Beverage Division at Future Market Insights

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed 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.

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.

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Surge in Ready-to-Drink Demand Drives Premixed Bottled Cocktails Market to USD 68 Billion by 2033

The premixed bottled cocktails market is projected to reach a valuation of USD 21 billion in 2023, with expectations to grow to USD 68 billion by 2033. The market is anticipated to expand at a CAGR of 12.5% over the forecast period.

Factors driving the increased demand for premixed bottled cocktails include:

Growing demand for ready-to-drink cocktails

Rising demand for convenience food products

Growing consumer preference for healthy drinks with low alcohol content

Rising adoption and consumption of premixed cocktails

The premixed bottled cocktail market is expected to be fueled by evolving global beverage trends, ongoing market developments, and research and development efforts by leading companies in the food and beverage sector, contributing to industry growth. Rising consumption of flavored drinks and a growing preference for ready-to-drink products, driven by busy lifestyles and demanding work schedules, are anticipated to boost product demand in the coming years.

The North American market is expected to experience significant growth during the forecast period, driven by the rising popularity of flavored ready-to-drink cocktails in the USA, Canada, and Mexico. This trend is anticipated to boost demand for premixed bottled cocktails in the region.

In 2023, the Asia Pacific region held a substantial share of the global premixed bottled cocktail market. This market is projected to grow at a moderate rate over the forecast period, fueled by increasing demand for convenience products in China, South Korea, Japan, India, and other South Asian countries, which is expected to drive sales of premixed bottled cocktails.

Competitive Landscape

Key market players are focused on manufacturing premixed bottled cocktails to increase their market share. Both domestic and international companies are investing in and leveraging advanced technology to expand their operations and secure a substantial portion of the market revenue.

Global Premix Bottled Cocktails: Key Players

Some of the key players manufacturing premix bottled cocktails are as follows –

Hub Punch
Courage+Stone
Campari Bottled Negroni
Crafthouse Cocktails
Watershed Distillery
Hochstadter’s Slow & Low
Empower
Belmonti Bellinis
Austin Cocktails
Wandering Barman
Siponey
Amor y Amargo
Drnxmyth

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The Report Covers Exhaustive Analysis on

Premix bottled cocktails market segment
Premix bottled cocktails market dynamics
Premix bottled cocktails market size
Premix bottled cocktails supply and demand
Current trends/issues/challenges pertaining to premix bottled cocktails market
Competition landscape and emerging market participants in premix bottled cocktails market
Technology related to production/processing of premix bottled cocktails
Value chain analysis of the premix bottled cocktails market

Regional Analysis

North America (USA, Canada)
Latin America (Mexico, Brazil, Rest of Latin America)
Europe (Germany, United Kingdom, France, Italy, Spain, BENELUX, Poland, Russia, Nordic, Rest of Europe)
East Asia (China, Japan, South Korea)
South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
Oceania (Australia, New Zealand)
Middle East & Africa (GCC Countries, South Africa, Rest of MEA)

Global Premix Bottled Cocktails: Market Segmentation

Primary Ingredient:

Malt-based
Wine-based
Spirit-based
Others

Additive Ingredient:

Alcoholic
Non-alcoholic

Bottle Size:

Less than 250 ml
250-350 ml
More than 350 ml

Alcohol Content:

Less than 5%
5-8%
More than 8%

Sales Channel:

Liquor Store
Hypermarket/Supermarket
Convenience Store
Online Retail
Others

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Automotive Garage Equipment Market Projected to Exceed USD 63.1 Billion by 2033, Growing at a Steady 8.94% CAGR | FMI Reports

The global automotive garage equipment market, valued at USD 24.4 billion in 2022, is expected to grow to USD 26.8 billion in 2023. According to Future Market Insights, the market is projected to expand at a robust Compound Annual Growth Rate (CAGR) of 8.94% from 2023 to 2033, reaching an estimated USD 63.1 billion by 2033.

This substantial growth is driven by several key factors, including an increasing number of vehicles on the road, a rising demand for vehicle maintenance and repair services, and advancements in automotive technology. The automotive garage equipment market encompasses a wide range of tools, machinery, and diagnostic instruments used in repair shops and service centers to diagnose, maintain, and repair vehicles.

One of the major drivers of this market growth is the expanding global vehicle fleet, which leads to a greater need for regular maintenance and repair services, especially as vehicles age. As the number of older vehicles on the road increases, the demand for garage equipment and related services also rises, contributing to market expansion.

Technological advancements in the automotive industry, such as the integration of electronic systems, advanced driver assistance systems (ADAS), and the development of hybrid and electric powertrains, are further driving the need for specialized garage equipment. Manufacturers are innovating and developing new tools—including diagnostic devices, battery chargers, tire changers, and wheel alignment systems—specifically designed to service modern vehicles with complex electronic and hybrid components.

Additionally, the growing focus on vehicle safety, performance, and environmental sustainability is boosting demand for garage equipment that addresses emissions, fuel efficiency, and safety features. Automotive repair shops and service centers are increasingly investing in equipment such as emission testers, brake testers, and wheel balancers to meet regulatory standards and fulfill customer expectations.

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Key Takeways for Automotive Garage Equipment Market

Market Growth: The global automotive garage equipment market is experiencing substantial growth, with an estimated value of USD 26.8 billion in 2023 and projected to reach approximately USD 63.1 billion by 2033, driven by a CAGR of 8.94%.
Rising Vehicle Parc: The increase in the number of vehicles on the road, including older models that require regular maintenance, is a primary driver of market demand for garage equipment.
Technological Advancements: Innovations in automotive technology, such as electronic systems, advanced driver assistance systems (ADAS), and hybrid and electric powertrains, are fueling the need for specialized garage equipment that can service and repair these advanced vehicles.
Increased Vehicle Maintenance Needs: As vehicles age, the demand for maintenance and repair services grows, driving the need for a wide range of garage equipment, including diagnostic tools, battery chargers, tire changers, and wheel alignment systems.
Emphasis on Safety and Compliance: There is a growing focus on vehicle safety, performance, and environmental sustainability, leading to increased demand for equipment that can diagnose and address issues related to emissions, fuel efficiency, and safety features.
Regulatory Standards: Automotive repair shops and service centers are investing in equipment to ensure compliance with regulatory standards and meet customer expectations for vehicle safety and performance.

Recent Developments:
In June 2023, ISTOBAL showcased its new M’WASH3 PRO rollover at Autozum 2023, the leading Austrian trade show for the car wash, service station, and dealership industry, held at Messezentrum Salzburg (Stand 09-0200).

The company is exhibiting for the first time at a show and on the international market. This innovative high-end equipment is aimed at increasing profitability in carwashes and improving the user experience through efficient and connected technology.

Leading Key Players:

MAHA Maschinenbau Haldenwang Gmbh & Co. KG
Snap-on Incorporated
Robert Bosch GmbH
Continental AG
Forward Lift Company (Dover Corporation)
VisiCon Automatisierungstechnik GmbH
Standard Tools and Equipment Co.
Symach Srl
Nussbaum Automotive Solutions
SAMVIT GARAGE EQUIPMENT

Automotive Garage Equipment Market Segmentation:

By Vehicle:

2 Wheelers
Light Vehicles
Heavy Vehicles

By Equipment:

Lifting Equipment
Body Shop Equipment
Wheel & Tire Alignment
Vehicle Diagnostics & Testing
Washing Equipment
Other Tools

By Garage:

OEM
Franchisee Garages
Independent Garages

By Region:

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

About Future Market Insights (FMI)

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

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