Market Research Blog – Page 1378 – New Product Development

Aircraft Ground Support Equipment Market Forecasted to Reach USD 21.2 Billion by 2033, Expanding at a 6.8% CAGR | FMI Reports

The Aircraft Ground Support Equipment (GSE) Market report, published by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—provides a detailed and comprehensive analysis of the sector. The report explores the key drivers, market size, and future outlook for Aircraft Ground Support Equipment, offering in-depth insights into revenue and shipment trends with projections extending to 2033. It also examines the major players in the industry, market distribution, competitive landscape, and regional insights.

The Aircraft Ground Support Equipment market is currently experiencing strong growth, fueled by the increasing demand for air travel and the resulting rise in air traffic. As the number of passengers and flight frequencies continue to climb, airports are increasingly reliant on efficient and reliable ground support equipment to handle critical functions such as aircraft servicing, baggage handling, refueling, and other essential ground operations. This growing demand is further driven by the expansion of airline fleets and the introduction of new routes.

Globally, the aircraft ground support equipment market is expected to reach approximately USD 11.0 billion by 2023, driven by ongoing airport expansion and modernization efforts. By 2033, the market is projected to grow significantly to USD 21.2 billion, reflecting a Compound Annual Growth Rate (CAGR) of 6.8% from 2023 to 2033.

The increasing demand for air travel and rising air traffic are major contributors to the heightened need for ground support equipment. As passenger numbers and flight frequencies rise, airports require more advanced and reliable equipment to efficiently manage a range of operations. Additionally, the expansion of airline fleets and the growth of route networks underscore the need for state-of-the-art equipment in the aviation industry.

The global trend towards airport expansion and modernization is further driving demand for advanced ground support equipment. With airports investing in major infrastructure projects—such as extending runways, expanding terminals, and constructing new facilities—the need for cutting-edge ground support equipment is becoming more pronounced. This includes the adoption of automated systems, electric-powered machinery, and other advanced technologies designed to enhance operational efficiency and improve the passenger experience.

The Asia-Pacific region, in particular, is seeing significant growth in the aviation sector due to increased demand for air travel and expanding airport infrastructure. Countries like China, India, and various Southeast Asian nations are experiencing substantial increases in air traffic, underscoring the urgent need for advanced ground support equipment. Such equipment is essential for maintaining efficient ground operations and ensuring smooth aircraft servicing in these rapidly growing aviation markets.

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Key Takeaways from the Market Study

From 2018 to 2022, the aircraft ground support equipment market demand expanded at a CAGR of 6.4%
Based on equipment, the aircraft service segment accounts for a CAGR of 6.7%
By ownership, the rental segment is expected to expand at a CAGR of 6.5% during the forecast period
North America to emerge as a promising aircraft ground support equipment market, capturing a CAGR of 6.7%
The aircraft ground support equipment market in the United Kingdom is predicted to capture a market share of 35.2%
Asia Pacific to be an opportunistic aircraft ground support equipment market, expected to capture a CAGR of 6% during the forecast period.

Competitive Landscape

The global aircraft ground-supporting equipment market exhibits a notable degree of fragmentation, characterized by the presence of numerous significant players ranging from large corporations to medium-sized enterprises. Within this competitive landscape, industry leaders are actively engaging in strategic partnerships and agreements as part of their concerted efforts to secure and expand their market share.

Key Players

Air T, Inc.
Textron, Inc.
China International Marine Containers (Group) Co., Ltd
Weihai Guangtai Airport Equipment Co., Ltd.
Cavotec SA,
ALVEST Group
MulagFahrzeugwerk Heinz Wössner GmbH u. Co. KG
Tronair, Inc.
Lektro Inc.

Textron ground support equipment has focused on developing electric ground support equipment to meet sustainability goals. They have introduced electric towbarless aircraft tractors, electric belt loaders, and electric ground power units (GPU) that provide cleaner and quieter operations.

JBT Corporation has been investing in advanced technologies for their ground support equipment products. They have developed automated guided vehicles (AGVs) for baggage handling, autonomous tow tractors, and intelligent ramp management systems that optimize aircraft parking and movement on the ground.

TLD Group has been actively involved in developing electric ground support equipment solutions. They have introduced electric aircraft pushback tractors, electric baggage tractors, and electric GPUs to reduce emissions and noise levels. They also offer advanced GSE management systems that enable real-time monitoring and optimization of ground operations.

Know More About What the Aircraft Ground-Supporting Equipment Market Report Covers

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

To understand opportunities in the aircraft ground-supporting equipment market, the market is segmented based on equipment, power, application, and application across five major regions.

Aircraft Ground Support Equipment Market by Category

By Equipment:

Passenger Service
Boarding Steps & Stairs
Airport Buses & Transport
Beds/Chairs Lifts
Aircraft Service
Refuelers
Tugs & Tractors
Ground Power Unit (GPU)
Air Start Units (ASU)
Lavatory Service Vehicles
De-icing Vehicles
Rescue & Firefighting
Air Conditioners
Others
Cargo Loading
Container Loaders
Belt Loaders
Cargo Transporters
Cargo Dollies

By Power:

Electric
Non-electric
Hybrid

By Ownership:

New Sales
Rental/Lease

By Application:

Commercial
Defense

By Region:

North America
Latin America
Europe
Asia Pacific
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Water Treatment Market Expected to Reach USD 137.17 Billion by 2034, Driven by a 7% CAGR | FMI Reports

The global water treatment market is projected to reach approximately USD 137.17 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 7%. This growth is expected to be driven primarily by an increasing demand for water treatment systems in the coming years.

A major factor contributing to this market expansion is the rising need for potable water, fueled by a growing global population and escalating pollution levels. Traditional sources of drinking water, such as rivers and lakes, are under severe ecological stress, underscoring the importance of effective water treatment solutions. Ensuring that water treatment systems are both affordable and accessible is crucial to providing clean and safe drinking water across all economic demographics. This trend highlights the market’s focus on addressing environmental challenges while meeting the essential needs of a rapidly expanding population.

Industrialization has significantly worsened water pollution, particularly in urban areas, over the last century. The uncontrolled disposal of chemicals and construction debris has contaminated many water sources, making them unfit for consumption. This has increased concerns about water quality and safety, driving the demand for robust water treatment solutions.

As awareness of the environmental impacts of pollution and the need to protect clean water sources grows, the water treatment market is set to become increasingly important. Developing innovative and cost-effective water treatment technologies will be key to addressing these challenges and ensuring a sustainable supply of safe drinking water for future generations.

The growing demand for clean and potable water is exacerbated by the global population increase and deteriorating pollution levels, which are putting unprecedented pressure on traditional water sources. In response, water treatment systems have emerged as a critical and cost-effective solution to meet the diverse needs of consumers across different economic backgrounds.

Industrialization and Water Pollution:

The process of industrialization, particularly in urban centers, has significantly contributed to the worsening of water pollution over the past century. The unregulated discharge of chemical substances and debris from construction activities has led to the contamination of numerous water sources, rendering them unsuitable for human consumption.

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Water Treatment in Industrial Processes:

Industries also play a pivotal role in driving the demand for water treatment systems. Various industrial processes require specific water quality parameters to be met, such as controlling water hardness levels, pH levels, and total dissolved solids (TDS) content. Different industries source their water from diverse origins, including seawater, freshwater, and groundwater, each with distinct compositional characteristics. Therefore, the implementation of water treatment systems is crucial to tailor raw water to the precise requirements of these industries.

Meeting Environmental and Regulatory Standards:

As environmental awareness continues to grow, businesses are under increasing pressure to adhere to stringent environmental and regulatory standards. This necessitates the adoption of advanced water treatment technologies to ensure compliance with legal requirements and reduce the environmental footprint of industrial operations.

Economic Viability of Water Treatment Systems:

Water treatment systems have become economically viable for a wide range of consumers, from households to large industrial players. The affordability of these systems has widened their accessibility, making clean water a reality for a broader spectrum of society.

Key Players Operating in the Industry:

Hitachi Aqua-Tech Engineering Pte Ltd
Flow-Tech Industrial
Clariant
Toshiba Corporation

Water Treatment Market Key Segment:

By System Type:

Preliminary Treatment
Water Treatment
Membrane Bio-Reactor (MBR)
Reverse Osmosis (RO)
Micro-Filtration (MF)
Nano/Ultra Filtration (NF/UF)
Disinfectants (UV, Ozone)
Sludge treatment
Activated Sludge
Sludge Thickening & Dewatering
Sludge Drying
Other Sludge Treatment Technology

By Application:

Process Water/ Water Treatment
Waste Water Treatment
Zero Liquid Discharge
Desalination

By End Use:

Residential Buildings
Commercial Buildings
Municipality
Industrial
Chemical & Petrochemicals
Oil & Gas
Mining & Metals
Food & Beverage
Pharmaceuticals
Thermoelectric Power Plants
Semiconductors
Pulp & Paper
Sugar Mills
Textiles
Leather

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
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.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Global Electric Motor Market Anticipated to Reach USD 252.6 Billion by 2033 with 6.64% Annual Growth Rate | FMI Reports

The electric motor market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 6.64% from 2023 to 2033. By 2033, the market is expected to reach an estimated value of approximately USD 252.6 billion.

This market’s upward trajectory is remarkable. In 2023, the global electric motor market is anticipated to be worth USD 132.8 billion, marking a noticeable increase from USD 131.4 billion in 2022. This growth is primarily driven by increased government incentives aimed at encouraging the adoption of environmentally sustainable vehicles.

Several key factors are driving this expansion, including a growing demand for high-efficiency motors and technological advancements in machine control within the automotive industry. Energy-efficient motors have become crucial, offering improved performance and contributing significantly to market growth.

Furthermore, the global electric motor market has benefited from the increasing use of efficient motors across a variety of applications. There is particularly strong demand for electric motors in HVAC (heating, ventilation, and air conditioning) systems due to their low noise levels and high torque performance, which is further accelerating market growth.

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Key Takeaways:

Sales of global electric motors market expanded at a CAGR of 5.43% from 2018 to 2022.
The North American market for global electric motor market is likely to have a market share of 28.6%.
The Unites States market for global electric motor market is likely to expand at a share of 17.8%.
AC motors are expected to generate maximum demand for the global electric motor market.
1HP Power Output is said to hold a Dominant Share.
<1HP is the leading category and it is expected to account for 26% of the value share of the electric motor market.
Industrial sector is said to hold a Lucrative Portion of the Market.

“The electric motor market is witnessing significant growth driven by the increasing adoption of electric vehicles, industrial automation, and renewable energy initiatives. The study reveals a promising trajectory for the market, with advancements in motor technology and a growing emphasis on energy efficiency playing pivotal roles in shaping its future. The research findings suggest that the electric motor market is poised for substantial expansion in the coming years.” – says Future Market Insights Analyst.

Competitive Landscape:

Some of the prominent players in the global market are-

Competition Deep Dive
Robert Bosch GmbH
Hitachi, Ltd.
Nidec Corporation
WEG S.A.
Siemens AG
ABB Group
Regal Beloit Corporation
Toshiba Corporation
Johnson Electric
Hyosung Corporation
Schneider Electric SE
Bonfiglioli Riduttori S.p.A.
Kirloskar Electric Company Ltd.
Allied Motion Technologies Inc.
East West Manufacturing, LLC
Hyundai Electric Co. Ltd.

Some of the Important Developments of the Key Players in the Market are:

In January 2023, Hitachi, Ltd. announced that it had been bolstering the global development of its line-building business leveraging industrial robots (“the robotic SI*1 business”) and will merge Hitachi Automation, Ltd. (“Hitachi Automation”) and Kyoto Robotics Corporation (“Kyoto Robotics”), Hitachi Group companies in Hitachi’s Industrial Digital Business Unit, on April 1, 2023, to strengthen the robotic SI business in Japan and ASEAN countries.
In March 2023, ABB Group, focused on electrification and robotics, wants to invest $40 million through a new 90,000-square-foot manufacturing facility in west Albuquerque as the facility will be used to increase ABB’s production of cable products and will include robotics and digital automation technology, according to a Thursday news release from the company.

Key Segmentations

Power Output:

<1 HP
1-5 HP
5 – 10 HP
10 -20 HP
20 – 50 HP
50 – 100 HP
100 – 300 HP
300 – 500 HP
Above 500 HP

Product Type:

AC Motor
- Induction Motor
- Synchronous Motor
DC Motor
- Brushed DC
- Brushless DC

Application:

Pumps
Fans
Drives
Compressor
General Machinery
Centrifugal Machinery
Grinders
Extruders
Robotics
Others

End Use:

Industrial
- Oil & Gas
- Power Generation
- Mining
- Food & Beverages
- Pulp & Paper
- Chemicals
- Air Separation Plant
- Other Manufacturing
Residential
HVAC & Refrigeration
Medical
Municipal Water Treatment
Transportation
- Automotive
- Aviation
- Electric Vehicles
- Railways
- Boats
Others

Region:

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

About Future Market Insights (FMI)

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

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Global Substation Automation Market Expected to Reach USD 55.69 Billion by 2033, Growing at a 6.7% CAGR | FMI Reports

In 2023, the global substation automation market is expected to reach a value of USD 29.12 billion. Over the next decade, this market is projected to grow at a compound annual growth rate (CAGR) of 6.7%, potentially reaching an estimated USD 55.69 billion by 2033. This growth is driven primarily by the increasing need for a reliable and efficient power supply. With the global population expanding and urbanization on the rise, there is an escalating demand for advanced automation technologies to ensure uninterrupted electricity delivery. Moreover, the integration of renewable energy sources into power grids and efforts toward grid modernization are further accelerating the adoption of substation automation solutions.

Despite these growth drivers, the industry faces significant challenges. One major hurdle is the high upfront investment required for upgrading infrastructure and implementing new technologies. Deploying state-of-the-art automation systems—which include sensors, communication networks, and control devices—entails considerable costs. Additionally, integrating these advanced automation solutions with existing infrastructure and legacy systems can be both complex and challenging. Addressing these financial and technical barriers is crucial for the broader adoption of substation automation technologies.

Conversely, the increasing focus on energy efficiency and sustainability presents substantial opportunities for the substation automation market. Governments and regulatory bodies around the world are introducing policies and incentives to promote the adoption of smart grid technologies and enhance overall energy efficiency. Substation automation is essential for optimizing power distribution, reducing energy losses, and enabling real-time monitoring and control.

A significant trend in the substation automation industry is the growing adoption of artificial intelligence (AI) and machine learning (ML) technologies. These technologies are being incorporated into automation systems to provide advanced analytics, predictive maintenance, and intelligent decision-making capabilities. This integration helps utilities optimize their operations, improve asset management, and enhance grid reliability. Additionally, the industry is witnessing the emergence of digital twin technology, which creates virtual replicas of physical substations for simulation, testing, and optimization.

In summary, while the substation automation market faces challenges related to costs and integration, the sector is poised for substantial growth, driven by technological advancements and increasing demand for efficient and sustainable power distribution solutions.

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Key Takeaways from the Substation Automation Market:

The United States holds a market share of 29.7% in 2023, contributing significantly to the global market in substation automation.
Germany captures a market share of 6.5% in 2023, showcasing its presence in the substation automation industry.
Japan secures a market share of 5.1% in 2023, playing a notable role in the global market for substation automation.
Australia demonstrates a CAGR of 1.2% during the forecast period, indicating growth potential in the substation automation market.
China exhibits a CAGR of 7.6% during the forecast period, reflecting its steady expansion in the substation automation industry.
India showcases a CAGR of 8.1% during the forecast period, presenting opportunities for growth in the substation automation market.
The United Kingdom reveals a CAGR of 5.0% during the forecast period, indicating a positive outlook for the substation automation industry.
SCADA-based control system holds a significant share of 46.0% in the substation automation industry.
Commercial and civic power utilities account for 37.5% of the end user market in substation automation.

What are Key Players Doing to Thrive in the Substation Automation Market?

The substation automation industry is highly competitive, with several key players vying for market share and technological advancements. Some of the prominent companies operating in the sector include:

ABB Ltd: A global leader in power and automation technologies, ABB offers a comprehensive range of substation automation solutions, including control systems, protection devices, and communication networks. The company’s extensive product portfolio and strong research and development capabilities position it as a major player in the market.
Siemens AG: Siemens is a renowned name in the field of electrification, automation, and digitalization. The company offers many substation automation products and solutions, including intelligent electronic devices, advanced control systems, and remote terminal units. Siemens’ expertise in integrated automation and digital solutions gives it a competitive edge in the industry.
Schneider Electric SE: Schneider Electric is a global leader in energy management and automation solutions. The company provides advanced substation automation solutions that enable efficient electrical network monitoring, control, and protection. Schneider Electric’s focus on sustainability and innovative technologies positions it as a key player in the substation automation market.
General Electric Company: GE is a prominent player in the substation automation industry, offering a comprehensive portfolio of digital solutions for power transmission and distribution. The company’s expertise in grid analytics, advanced controls, and asset performance management allows it to deliver cutting-edge substation automation solutions.
Eaton Corporation: Eaton is a leading power management company that offers a wide range of substation automation products and services. The company’s offerings include intelligent electronic devices, communication solutions, and software platforms for efficient substation automation. Eaton’s focus on reliability, safety, and sustainability makes it a strong competitor in the industry.

Other notable players in the substation automation industry include Honeywell International Inc., Mitsubishi Electric Corporation, Schweitzer Engineering Laboratories, and Emerson Electric Co. These companies compete through continuous product innovation, strategic partnerships, and a strong global presence to meet the evolving needs of the substation automation market.

Key Segmentations

By Component:

Hardware
IEDs
Bay Controller
Feeder and Motor
Protection Relay
Tele controller / IECs
Circuit Breaker Control & Management
Line Differential
Others
Software
Data Visualization and Monitoring
Data Analysis

By Site:

Process Level/ Electric Control unit
Bay Level
Substation Level

By Rated Voltage:

Low Voltage
Medium Voltage
High Voltage

By Control System:

SCADA based
HMI based
RI/O (Remote Input-Output) based

By Application:

Transmission Substation
Distribution Substation

By End User:

Commercial and Civic Power Utilities
Oil & Gas terminals
Mining & Metallurgy
Manufacturing Unit
Railways

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)

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Cookie Dough Market Set to Grow at 5.7% CAGR, Projected to Reach USD 21.5 Billion by 2033

The global cookie dough market is anticipated to reach a valuation of USD 12.3 billion by 2023, with a projected CAGR of 5.7% from 2023 to 2033.

During this forecast period, the cookie dough market is expected to experience significant growth. The recent coronavirus pandemic led to widespread lockdowns, prompting many people to stay at home and embrace baking as a popular new hobby. This surge in home baking, with individuals experimenting with various cookie and cake recipes, is likely to drive substantial growth in the cookie dough market.

As more individuals adopt healthier lifestyles, low-fat cookie dough is emerging as a key factor in driving the growth of the cookie dough industry. Additionally, increasing concerns about hygiene are influencing market expansion. With growing apprehensions about cleanliness standards in bakeries, consumers are opting to bake their own cookies rather than buying pre-made ones. This shift is likely to significantly benefit the cookie dough market.

Edible cookie dough is becoming increasingly popular. It is made using all the typical cookie ingredients except for the leavening agent, which is added last to ensure the dough is safe to eat. The dough is then heated, chilled or frozen, and packaged for retail distribution. This process allows consumers to enjoy homemade-style cookies with a variety of flavors, offering a convenient and enjoyable treat.

In response to increasing health consciousness, people are now adopting healthier lifestyles but are unwilling to sacrifice taste. Consequently, cookie dough manufacturers are creating healthier alternatives. Today’s cookie dough is often labeled as organic, free from additives and preservatives. Additionally, options such as whole-wheat, multi-grain, and nut-based cookie doughs are available, potentially attracting health-conscious consumers. These products are marketed to appeal to those concerned about their health, all while maintaining high quality and a diverse range of flavors.

Competitive Landscape

The cookie dough market is relatively consolidated, with major players focusing on growth strategies such as mergers, acquisitions, and expanding their distribution networks to strengthen their market presence. Manufacturers employ various competitive tactics, including launching new products, promoting free-from claims, and highlighting organic and natural ingredients.

The use of heat-treated flour and pasteurized eggs to get rid of any potential foodborne bacteria has allowed Pilsbury to launch a new line of safe-to-eat edible cookie dough.
A new sundae variation from the milkshake chain Sonic will have substantial scoops of cooked dough on top. The market for cookie dough is predicted to rise as a result of such additions to diverse foods.

Key Companies Profiled

General Mills Inc.

Nestle S.A.

Cérélia Group

Dawn Foods UK Ltd.

Dough-to-Go Inc.

Rhino Foods Inc.

Neighbors LLC

Gregory’s Food’s Inc.

Cookie Dough & Co. Do-Biz Foods LLC

Mo’s Cookie Dough Ltd.

Foxtail Foods

Michael’s Bakery Products LLC

George Weston Limited

Wewalka; Sara Lee Bakery Group

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Cookie Dough Market by Category

By Nature:

Organic
Conventional

By Ingredients:

Wheat-Based
Bean & Legume
Grain-Based
Root Flours
Nut-Based
Multi-Grain
Others (Seed, etc.)

By Flavor:

Chocolate Chip
Double Chocolate
Snickerdoodle
Peanut Butter
Oatmeal Raisin
Ginger Snap
Lemon Zest
Mint Chocolate
Others (Macadamia, M&M’s, etc.)

By End Use:

Food
Bakery
Confectionery
Dairy
Food Service
Household/Retail

By Sales Channel:

Direct/ B2B
Indirect/ B2C
Modern Grocery Retailers
Hypermarkets/ Supermarkets
Discount Stores
Specialty Retail Stores
Wholesale Club Stores
Traditional Grocery
Online Retailers

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 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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Ready To Drink (RTD) Tea Market Expected to Grow to USD 72.9 Billion by 2033, Registering an 8% CAGR

The ready-to-drink (RTD) tea market is valued at USD 34.3 billion in 2023 and is expected to grow to USD 72.9 billion by 2033, driven by an 8% CAGR over the forecast period.

The global tea market is anticipated to experience growth, according to research forecasts. Tea is offered in a variety of flavors by numerous competitors, with tea bags (dip bags) being particularly popular in several developed regions.

Rising consumer awareness of the health benefits of tea is driving the global ready-to-drink (RTD) tea market. RTD tea is increasingly favored for its potential benefits, including weight loss support, headache and pain relief, cholesterol reduction, and a lower risk of heart attacks.

Key Takeaways:

The ready-to-drink (RTD) tea market is predicted to register a CAGR of 8% with a valuation of US$ 72.9 Billion in 2033.
In the historical period, the market secured a valuation of US$ 33.0 Billion in 2022.
The United States is estimated to lead the global market by securing a share of 2.7% by 2033.
Germany is significantly growing the global market size by capturing a share of 4.9% during the forecast period.
With a share of 3.2%, Japan is anticipated to drive the global market during the forecast period.
Australia is projected to capture a share of 2.7% in the global market by 2033.

How Key Players are Advancing the Global Market?

Key players are advancing the global market through various steps such as:

Product Innovation: Key players focus on providing innovative and unique products that attract consumers’ requirements. These key players are introducing fresh flavor products such as herbs, spices, and tea products with natural ingredients with health benefits.
Marketing and Branding: Key players are expanding their business through marketing and branding their products on various channels. These channels include online platforms, retail shops, and social media campaigns. Through these, relevant audiences can connect quickly and increase their sales volume.
Packaging and Convenience: Key players invest in simple, convenient, attractive packaging. This packaging can preserve goods for long life without toxicity and harmful chemicals.
Focus on Wellness and Health: With rising consumer demand for healthy drinks and ready-to-drink, key players develop functional ingredients. These functional ingredients include vitamins, antioxidants, and adaptogens, advancing market growth.

Recent Developments:

Coca-Cola is a significant company that offers ready-to-drink tea. Recently, the company launched Gold Peak, Honest Tea, and Fuze Tea to expand its business portfolio.
Arizona Beverage Company launched its new ready-to-drink tea, Arnold Palmer Half & Half. The company expands its business portfolio through online platforms and distribution channels.

Key Players Operating in the Global Market

DANONE
HARNEY & SONS FINE TEAS
NESTLE S.A.
SNAPPLE BEVERAGE CORP.
STARBUCKS CORPORATION
BEAM SUNTORY, INC.
TATA CONSUMER PRODUCTS LIMITED
THE COCA-COLA COMPANY
THE REPUBLIC OF TEA
UNILEVER PLC

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Ready to Drink (RTD) Tea Market by Category

By Product Types:

Herbal
Black tea
Green tea
Others

By Sales Channel:

Direct Sales
Indirect Sales

By Region:

North America
Europe
Latin America
Asia Pacific
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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Global Date Syrup Market to Grow at 5% CAGR, Reaching USD 692.3 Million by 2033, with Key Growth in Middle East and South Asia

The date syrup market is projected to be valued at USD 417 million in 2023 and is expected to grow to USD 692.3 million by 2033, reflecting a compound annual growth rate (CAGR) of 5% during this period.

This growth is driven by the increasing use of date syrup in the nutraceutical and food service industries in the Middle East and Africa. Additionally, demand in South Asia is anticipated to rise rapidly over the forecast period.

Which Factors Drive the Global Market?

Increasing Consumers Demand: The rising demand for high nutritional, antioxidant properties, and healthy alternatives is fueling the global market.
Rising Health Awareness: The growing consumers’ awareness of healthy lifestyles and reducing cardiovascular and other chronic diseases are increasing the demand for date syrup. Date syrup contains iron, potassium, fiber, and other minerals to maintain and improve wellness.
Growing Vegan Population: The growing popularity of vegan diets, changing consumer preferences, and rising demand for plant-based syrup drive the global market. Consumers prefer organic products to maintain natural sweeteners without any toxicity.
Expanding Food & Beverages Sector: The food & beverages sector is significantly expanding the global market by offering a variety of date syrup items. It includes baked goods, sauces, desserts, and cereals. Manufacturers are adding exotic flavors and natural ingredients to develop unique products.
Shifting toward Ethnic Cuisines: Date syrup is a traditional dry fruit widely used in the meals of the Middle East and North Africa. The rising popularity of ethnic cuisines and unique flavors is driving global market revenue.

These are a few driving factors that are flourishing the global market during the forecast period.

Key Takeaways:

The date syrup market is estimated to register a CAGR of 5% with a valuation of US$ 692.3 million by 2033.

The United States is anticipated to secure a maximum share of 13% during the forecast period.
Germany is capturing a significant share of 8.9% of the global market by 2033.
In the historic period, the market registered a valuation of US$ 401 million in 2022 with a CAGR of 5.2%.
The food & beverage sector is leading the global market by capturing a share of 38% by 2033.

Competitive Landscape

Leading date syrup manufacturers are well-positioned to supply their products across a range of industries, including food & beverages, nutraceuticals, and cosmetics & personal care.

A significant emphasis is placed on optimizing the supply chain to secure a steady availability of raw materials. Manufacturers strategically locate their facilities in major date production regions to maintain a reliable supply and reduce logistics costs. Additionally, they are focused on expanding production capacity to meet growing demand.

Global companies offer products in various quality grades, allowing them to attract new customers in the food service and food & beverages sectors. Products can be tailored to meet specific customer needs.

Recent Developments in the Global Market

AI Foah, a United Arab Emirates-based company is a large producer of dates in the globe. The company offers a variety of date products such as chocolates, date syrup, and others.
Bascom Family Farms announced its organic maple syrup with natural sweetener. They produce eco-friendly and vegan-friendly products for their customers.

Key Players

Al Foah
Malabar Food Products
Just Dates Syrup
Ario Co
Sun Seas Business Group
BIONA
Parsunday Symbol Co.
BOMBUS
Rapunzel Naturkost
D’VASH Organics
Ratinkhosh Co
EZEEBEE OVERSEAS PVT LTD
Lion Dates Impex Pvt. Ltd.
Ambrosia Delicatessen
ARAT COMPANY PJS
Minoo Industrial Group
Emirates Dates
Date Lady
Others

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Date Syrup Market by Category

By Nature:

Organic
Conventional

By End Use:

Food & Beverage Industry
- Bakery & Confectionery
- Dairy & Desserts
- Snacks & Cereals
- Beverages
- Others
Nutraceuticals
Cosmetics and Personal Care Industry
Foodservice Industry
Retail/ Household
Others

By Distribution Channel:

Business to Business
Business to Consumers
- Hypermarkets/ Supermarkets
- Specialty Stores
- Convenience Stores
- Online Retail

By Region:

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

About Future Market Insights (FMI)

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

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Rising Demand for Natural Ingredients Fuels Galactose Market to USD 46.76 Billion by 2033

The global galactose market is expected to experience significant growth, exceeding USD 28.99 billion in 2023. Future Market Insights (FMI) forecasts that the market could surpass USD 46.76 billion by 2033. This growth is driven by increasing health awareness among consumers, which has heightened the demand for natural food ingredients. As a result, sales of plant-derived galactose are on the rise.

The study forecasts a steady growth rate of 5% in the galactose market from 2023 to 2033. This indicates ongoing expansion and potential opportunities within the industry. With consumers increasingly prioritizing natural and healthy food options, the demand for galactose is expected to remain strong.

Key Drivers in this Industry:

Increasing consumer awareness and demand for galactose’s health benefits
The growing use of galactose as a functional ingredient in food and beverages
Growing consumer inclination towards plant-based and vegan eating patterns
Increasing demand for natural as well as clean-label ingredients in food and beverages
Rise in lactose intolerance and milk allergies, driving the adoption of galactose
Expanding pharmaceutical industry’s use of galactose in drug delivery systems
Rising prevalence of chronic diseases and focus on preventive healthcare
Ongoing research and development for exploring galactose’s potential

Key Challenges Faced:

Limited availability and high cost compared to alternatives
Regulatory constraints on galactose use in specific industries
Potential allergic reactions or sensitivities
Competition from alternative sweeteners and ingredients
Limited consumer awareness impacting adoption

Key Trends observed:

The surge in popularity of galactose-based infant formulas
Growing demand for galactose in the cosmetics industry
Introduction of innovative galactose-based food products
Integration of galactose in sports nutrition products
Adoption of galactose in animal feed formulations

Key Opportunities in this Industry:

Expansion of galactose production capabilities
Development of novel galactose derivatives and formulations
Exploration of galactose’s potential in personalized nutrition
Penetration of galactose in emerging markets
Galactose exploration in nutraceuticals for functional food supplements
Galactose adoption in agriculture for bio-stimulants and plant growth enhancers

Key Takeaways are:

The galactose industry in the United Kingdom is anticipated to rise, exhibiting a CAGR of 6.7% through 2033.
The United States dominated the galactose industry in 2022, holding a 31.3% global market share.
In 2022, Japan had a 1.2% share of the galactose industry globally.
With a CAGR of 4.5% over the forecast period, India is predicted to develop rapidly in the galactose industry.
The galactose industry in China is expected to increase, registering a CAGR of 5.6% over the forecast period.
Germany accounted for 11.4% of the global galactose industry in 2022.

Competitive Landscape:

Key Players are adopting various strategies to maintain their positions in the market and increase their global footprints. These strategies include:

Assessing galactose demand and supply trends in the market
Cultivating and harvesting galactose-rich sources such as dairy products, legumes, and certain seaweeds
Extracting galactose from these sources using various extraction methods
Purifying and refining galactose to ensure high quality and purity standards
Developing and implementing efficient production processes to maximize galactose yield
Conducting research and development to improve galactose production techniques and explore new sources
Monitoring market conditions and adjusting production levels accordingly
Collaborating with suppliers, distributors, and manufacturers to meet the demand for galactose-based products
Ensuring compliance with regulatory standards and guidelines related to galactose production
Marketing and promoting galactose as an ingredient in various industries such as food, pharmaceuticals, and cosmetics

Recent Developments by Few Key Players:

In June 2023, Kyowa Hakko Kirin Co., Ltd. decided to concentrate its resources on Human Milk Oligosaccharides. It mainly consists of glucose, galactose, fucose, N-acetylglucosamine, and N-acetylneuraminic acid.
The acquisition of Schwan’s Company and Kahiki Foods Company by CJ CheilJedang Corp in 2019 allowed the company to broaden its presence in various markets.

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Market Segmentation:

By Source:

Plant Derived Sugar
Synthetic Sugar

By Product Type:

D-Galactose
L-Galactose

By Form:

Powder
Liquid
Crystal

By End Use:

Food
Bakery Goods
Sweet Spreads
Confectionary
Dairy Products
Canned Food
Beverage
Carbonated Drinks
Fruit Drink and Juice
Powdered Drinks and Mixers
Alcoholic Beverages
Pharmaceuticals
Personal Care
Biofuel Industry
Animal Feed Industry

By Region:

North America
Latin America
Europe
Asia-Pacific
Oceania
Japan
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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India’s Alcohol Industry Expected to Soar to USD 112.3 Billion by 2034, FMI Analysis Shows

Alcohol Industry Analysis in India (Análisis de la industria del alcohol en la India) is poised for substantial growth, with a projected valuation of US$ 112,338.9 million by 2034, marking a significant rise from US$ 55,840.0 million in 2024.

During the study period, the Indian alcohol market expanded due to increased urbanisation, population expansion (especially in metropolitan areas), and rising disposable income. During this time, bar and cocktail culture extended across major cities, as did the country’s demand for alcoholic beverages. The Indian alcohol market is predicted to expand in the next years, driven by rising whisky consumption, particularly among urban consumers.

The Indian alcohol market is rapidly developing because to changing customer preferences, a growing middle class, and increased cultural acceptance. In this unpredictable environment, the rising demand for premium spirits and artisanal beverages reflects the country’s changing drinking habits and economic status.

Due to shifting customer preferences, an increase in the middle class’ population, and a rise in societal acceptance, the India alcohol market is rising at an astounding rate. Premium spirits and craft beverages are in high demand, reflecting the nation’s changing drinking culture and economic growth, in this dynamic environment.

The country’s changing demographics will accelerate the expansion of the target market even further. Between the ages of 18 and 25, a large share of the population is in this bracket. Furthermore, the country’s median age is thought to be around 27 years. These demographics are expected to support the expansion of the Indian alcohol market, despite the fact that the legal drinking age varies by state in India. Furthermore, higher expenditure on various lifestyle, food, and beverage items, including alcohol, will almost likely be a consequence of rising per capita disposable income. Again, there has been a major change in Indian lifestyle in recent years, especially among the urban population. With pub and cocktail culture being widely adopted, the future of the Indian alcohol sector is bright.

Though the IMFL segment leads market growth, beer, country liquor, and wine segments follow closely after the category and aid the expansion of the Indian alcohol market.

Key Takeaways:

The Indian Made Foreign Liquor (IMFL) segment is estimated to exceed a value of US$ 40 billion while registering a CAGR of 5.2% between 2016 and 2026.
IMFL will account for 66% of the total market revenue during the period of observation.
Beer, country liquor, and wine will follow closely after the IMFL segment during 2016 and 2026.
Andhra Pradesh and Telangana are the two states that are estimated to contribute significantly to the overall growth of the Indian Liquor Market.
Andhra Pradesh and Telangana have the highest number of alcohol consumers in the country.

Competitive Landscape

Allied Blenders & Distillers Pvt. Ltd., Bangalore’s SAB Miller India Ltd., and Tilaknagar Industries Ltd., among others, are some of the dominant players in the Indian alcohol market profiled in the full version of the report.

Leading market players are keen on product development and facility expansions. These organizations also adopt diverse organic and inorganic business strategies to improve their market position.

More Insights Into the Indian Alcohol Market

In its latest report, FMI offers an unbiased analysis of the global Indian alcohol market, providing historical data from and forecast statistics for 2016 to 2026. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (IMFL (brandy and cognac, rum, whiskies, white spirits, others), Beer (mild, strong), Wine (red wine, white wine, rose wine), country liquor), make (imported liquor, IMFL, foreign liquor bottled in India, Indian made Indian liquor), gender (male, female), ingredients (grains, molasses, fruits, and vegetables), distribution market (government-controlled, open market, auction market), and region.

According to the same reports, based on segmentation, the IMFL category will dominate the market with a CAGR of 5.2%. This category will surpass US$ 40 billion and account for 66% of the overall market revenue. Based on region, the South Zone will likely make substantial contributions to the total market growth. Owing to the presence of a large number of alcohol consumers, Andhra Pradesh and Telangana are estimated to dominate the market. In brief, the adoption of the ‘pub and cocktail’ culture, a growing urban population, shifts in lifestyles, and increasing disposable income will aid the growth of the Indian alcohol market during the projection period.

In-Depth Market Analysis: A Complete Report

Key Companies in India’s Alcohol Industry

Heineken N.V.
Carlsberg A/S
United Breweries Holdings Limited
Devans Modern Breweries Ltd.
Diageo PLC
Carlsberg India Pvt. Ltd.
Anheuser-Busch InBev.
B9 Beverages Pvt. Ltd.
Crown India Alcohols India Limited (AB InBev)
Radico Khaitan Ltd.
Beijing Enterprises Holdings Limited
Dogfish Head Craft Brewery, Inc.
Squatters Pubs and Craft India Alcohols
Sierra Nevada Brewing Co.
The Boston India Alcohol Company, Inc.

Key Segments Covered in the India Alcohol Industry Report

By Product Type:

Beer
- Lager
- Specialty Beer
- Craft Beer
- Low-alcoholic Beer
Spirits
- Whisky
- Rum
- Vodka
- Gin
- Brandy
- Tequila
Wine
Red Wine
Rose Wine
White Wine

By Distribution Channel:

Food Service Industry
- Restaurants
- Hotels
- Bars, Pubs, & Clubs
Retail
- Liquor Stores
- Specialty Retailing
- Government-run Retail Outlets/ State Excise Department
- Online Retailers

By Flavor:

Natural/Un-flavoured
Flavoured
- Citrus
- Ginger
- Apple
- Vanilla
- Berry
- Others

By Price Range:

Economy
Premium
Super Premium

By Packaging Type:

Cans
Bottles
Tetra Pak
Others (Pouches, Miniature)

By Region:

North India
South India
East India
West India
Northeast India

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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Barley Market Set for Steady Growth: Expected to Reach USD 32.9 Billion by 2033

According to a recent analysis by Future Market Insights, a provider of market research and competitive intelligence, barley sales (Ventas de cebada) are expected to increase by a lucrative CAGR of 2.9% over the next ten years. The market is estimated to reach a valuation of US$ 32,901.6 million by 2033 from US$ 24,645.7 million in 2023.

A significant trend driving the barley industry is rising use of barley for the production of alcoholic and non-alcoholic beverages, personal care items, pharmaceuticals, food, and animal feed. In both emerging and established nations, products made from barley have a significant demand due to their numerous functionalities and nutritional advantages. It is hence fueling growth in the global barley market.

A significant number of small-scale competitors are putting high emphasis on innovation than sales. Leading manufacturers with global footprints have increased mergers and acquisitions with small businesses to diversify their product offerings and serve a wide customer base. Rising trend for biodegradable packaging, which is environmentally friendly and made from barley straw is likely to drive growth in the global barley market in the next ten years.

Key Takeaways from Barley Market:

The USA accounted for 15.3% of the global barley market share in 2022.
The United Kingdom generated a share of 4.9% in the global barley market in 2022.
China is set to hold a share of 5.0% in the global barley market during the estimated time frame.
Germany accounted for a share of around 3.5% in the global barley market in 2022.
India barley market is set to generate a share of around 4.3% in the next ten years.

“In the long run, growing focus on products with high nutritional benefits and eco-friendly packaging would propel barley sales worldwide. Key players in both developed and developing countries are anticipated to innovate barley products to create new opportunities,” says a lead analyst at Future Market Insights.

Competitive Landscape: Barley Market

The market for barley is highly competitive worldwide. A few main factors influencing market expansion are introduction of new blends of barley and numerous applications of barley across various industries. Increasing awareness of products with health-promoting properties is another factor that would propels ales.

Leading companies operating in the barley market are GrainCorp Limited, Muntons Plc, Soufflet Group, Cargill, Incorporated, Boortmalt Group, Ireks GmbH, Malteurop Groupe, EverGrain, Crisp Malting Group, Maltexco S.A., Grain Millers Inc., Malt Products Corporation, Global Malt Gmbh & Co. Kg, and Briess Malt & Ingredients Co. among others.

Get More Valuable Insights into Barley Market

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

The study provides compelling insights into the global barley market by product type (barley flour, barley girts, barley malt, barley flakes, whole grain barley, pearl barley), application (pharmaceuticals, alcoholic beverages, food industry, non-alcoholic beverages, animal feed, personal care products), grade (malt grade, standard grade, food grade, specialty grade, pharmaceutical grade, cosmetic grade, feed grade), and region.

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.

Full Market Assessment: Comprehensive Report

Barley Market Outlook by Category

By Application:

Alcoholic Beverages
Non-Alcoholic Beverages
Personal Care Products
Animal Feed
Food
Pharmaceuticals (Supplements)

By Grade:

Malt Grade
Standard
Food Grade
Specialty
Pharmaceutical Grade
Cosmetic Grade
Feed Grade

By Product Type:

Barley Flour
Pearl Barley
Barley Girts
Barley Malt
Barley Flakes
Whole Grain Barley

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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