Forecasting Growth: Postbiotic Pet Food Market to Grow at 4.8% CAGR, Reaching USD 1,321.4 Million by 2034

The global postbiotic pet food market is anticipated to reach a valuation of USD 823.6 million by 2024, growing at a CAGR of 4.8% from 2024 to 2034. By 2034, the market is projected to expand to USD 1,321.4 million.

The postbiotic pet food market represents a promising segment within the broader pet nutrition sector. Postbiotic foods are created from live bacteria that undergo fermentation, breaking down carbohydrates and proteins into easily digestible nutrients. This process mimics the natural diet of wild dogs and cats, thereby improving gut health and digestion.

Incorporating postbiotics into pet foods offers several potential benefits, including enhanced immunity, reduced inflammation, and overall improved health. Postbiotics are becoming increasingly appealing compared to prebiotics and probiotics due to their stability and effectiveness. Unlike live bacteria, which often struggle to survive conventional production methods, postbiotics provide consistent benefits.

Ongoing research and development highlight significant growth potential for the postbiotic pet food industry, driven by rising consumer awareness of gut health and the prospect of better disease resistance and overall health for pets.

As interest in postbiotics grows, scientific research into their benefits is gaining momentum within the pet food industry. Studies are increasingly focused on understanding how postbiotics impact gut health, immune function, and overall wellbeing in pets.

Veterinary professionals and pet owners require evidence-based findings to establish the credibility of postbiotics used in pet food. Scientific validation not only reinforces marketing claims but also builds trust in postbiotics as a reliable dietary solution for companion animals.

To support their formulations, manufacturers are engaging in research partnerships and clinical trials to demonstrate the health benefits of specific ingredients. This approach helps position postbiotics within the evolving field of evidence-based pet nutrition.

Competitive Landscape

To better engage with customers, manufacturers in the global industry are focusing on improving their online presence and investing more in research and development. Multinational companies are also expanding their manufacturing capabilities and acquiring local businesses to diversify their product lines.

Technological advancements in product development and increased spending in emerging markets are anticipated to significantly boost industry growth during the forecast period. These factors present substantial opportunities for manufacturers, driving them to expand their operations and capitalize on the rising demand.

Leading Companies

  • Royal Canin
  • Nestle Purina PetCare Company
  • Mars Inc. Chr. Hansen (Denmark)
  • Kinglike DSM N.V.
  • Dow DuPont
  • Evonik Industries
  • Land O’Lakes
  • Lallemand
  • Bluestar Adisseo Co.
  • Lesaffre
  • Alltech
  • Novozymes
  • Calpis Co. Ltd.
  • Schouw & Co.

Get in Touch for Expert Analysis: Connect with Our Specialist on Email: sales@futuremarketinsights.com

Key Segments of the Report

By Sales Channel:

Postbiotic Pet Food industry is segmented as Supermarkets / Hypermarket, Mass Merchandisers, Pet Food Stores, Veterinary Clinics, Online Retailing.

By Pet Type:

As per pet type, the industry has been categorized Cat (Kitten, Senior), Dog (Puppy, Adult, Senior), Birds, and Others (Rabbits, Hamsters, etc.)

By Form:

form further includes Dry, Tablet / Capsule, Powder, Treats and Chews, Liquid and Gel.

By Region:

Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania and 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

Egg Powder Market Poised for Significant Expansion: USD 4.8 Billion Expected by 2034

Picture background

The global egg powder market (Mercado de huevo en polvo) is expected to be at a valuation of US$ 1,934.2 million in 2024. Egg powder sales are likely to account for roughly 5.8% of the overall protein market this year.

The worldwide demand for egg powder is projected to grow with a CAGR of 9.6% between 2024 and 2034. The global market size of egg powder by 2034, in terms of value, is forecast to be around US$ 4,843.5 million.

Egg powder’s prospects are being bolstered by the growing health & wellness trend, owing to the fact that it is a complete protein that is diet-friendly, lactose-free, and aids in muscle regeneration. Egg powder’s lactose-free property has recently sparked curiosity as a potential replacement for dairy-based whey alternatives.

Furthermore, protein powders in the market were only available in whey and casein protein which are both dairy-based protein powders, making them unsuitable for people with dairy allergies. Egg powder, on the other hand, is lactose-free, making it an excellent alternative to dairy-based protein powders for many people with dairy allergies, driving up demand for egg powder.

Furthermore, dietary supplements and medicines have blurred the lines between where full protein powders can be used. This has resulted in new opportunity for the market players to diversify their portfolio, for food processing and pharmaceuticals.

Key Takeaways from Market Study

  • The market is segmented based on type, wherein whole egg powder is anticipated to account for around 40% of the market share over the forecast period.
  • The North American egg powder market is expected to witness a lucrative growth rate of 5.0% during the forecast period.
  • North America is inferred to account for 2/5th of the global egg powder consumption  through 2032
  • Use of egg powder sold in food and beverages is expected to hold a market share of over 30% in the forecast period
  • The supply chain for the egg powder market was severely hindered by the pandemic, resulting in a sales slowdown. However, with the recovery of the economy and rising consumer demand for healthy and nutritious foods, the business is expected to grow significantly.

“Considering the ongoing trend of consuming innovative clean label products, the egg powder market is extremely likely to see a new wave of application possibilities emerge in the future years,” says a Future Market Insights analyst.

Competitive Landscape

Consumers’ preferences appear to be shifting towards classic and unique flavors and tastes in recent years, as a result egg powder manufacturers have adjusted their focus towards customer-centric product offerings.

This has creates a window of opportunity for producers who are wagered to try out new varieties and develop unique products. Companies have established a roadmap to manufacture products that address consumer needs and regularly launch new in-trend products owing to innovation-driven methods. The lucrativeness of the industry is expected to steadily rise in years to come as innovation adds new dimensions to egg powder manufacturers’ capabilities.

Detailed Market Study: Full Report and Analysis

Egg Powder Market By Category

By Type, Egg Powder Market is Segmented as:

  • Whole Egg
  • Egg White
  • Egg Yolk

By End Use, Egg Powder Market is Segmented as:

  • Food & Beverages
    • Bakery
    • Confectionery
    • Sauces & Dressing
    • Others
  • Personal Care & Cosmetics
  • Pharma
  • Dietary Supplements
  • Animal Feed & Pet Food
  • HoReCa
  • Others

By Sales Channel, Egg Powder Market is Segmented as:

  • Offline Sales Channel
    • Supermarkets/Hypermarkets
    • Departmental Stores
    • Convenience Store
    • Other Sales Channel
  • Online Sales Channel
    • Company Website
    • E-commerce Platform

By Region, Egg Powder Market is Segmented as:

  • 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.

 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 Canned Vegetable Market Projected to Reach USD 35.3 Billion by 2034: FMI Report

Picture background

Climbing consumer preference for healthy and convenient food options is leading the canned vegetable market (vegetales de conservas Mercado) to register a CAGR of 3.9% through 2034. An escalating preference for ready-to-eat vegetable products among millennials and Gen Z generations is potentially pushing the market to increase its valuation from US$ 24,164.8 million in 2024 to US$ 35,267.9 million by 2034.

The market for canned veggies is growing due to customers’ busy schedules and need for quick and readily available food options. Between 2022 and 2032, canning vegetables will become more and more popular as a tasty and convenient substitute. This propensity mainly affects people who live in Tier-1 cities and work while travelling, as they don’t have as much time to cook and instead eat frozen and canned veggies. The global canned vegetable market is expanding due in part to the increasing number of working women who, particularly in wealthy countries, prefer the convenience of canned alternatives for their meals.

From 2022 to 2032, the canned vegetable market is projected to expand at a compound annual growth rate (CAGR) of 3.9%, with a projected market value of US$ 33.0 billion by 2022.

Due to their hectic schedules, customers are compelled to select ready-to-eat meals or other things. Sales of canned vegetables will rise as more people can enjoy delicious, easier-to-prepare meals. Customers can select from a large assortment of canned vegetables to suit their dietary needs.

Due to a fast-paced lifestyle, consumers are continuously looking for quick, inexpensive, and delicious food options. This might lead to a rise in canned food demand between 2022 and 2032.

The tier-1 city workers’ hectic lifestyles are contributing to an increase in the demand for canned veggies. Most urban people spend a significant portion of their time travelling and working, leaving little time for cooking. To save time, many choose to purchase frozen vegetables.

The increasing number of working women is another factor driving the global market for canned vegetables. The majority of female employees in wealthy nations prefer to cook with canned vegetables.

Key Takeaways from Market Study

  • Based on nature, the conventional is anticipated to account for a significant share in the global market in 2022 and is expected to witness a lucrative growth rate during the forecast period
  • Europe canned vegetables Industry is anticipated to dominate the global market with a market share of around 32% in 2022
  • South Asia is expected to witness a lucrative growth rate during the forecast period
  • On the basis of distribution channel, the B2C Channel is expected to hold a dominating share in 2022
  • Online retail store is expected to witness a lucrative growth rate over the forecast period

Who is winning?

Some of the leading companies offering canned vegetables are Del Monte Foods, Inc, Green Giant, Native Forest, Libby’s, Whole Foods Market, Nature’s Greatest Foods, 365 by WFM, Farmer’s Market Foods, Good & Gather, Reese, Old El Paso, Rotel, Goya, Rosarita, Great Value, Cento, and Others.

Get Valuable Insights into the Canned Vegetables Industry:

Future Market Insights, in its new offering, provides an unbiased analysis of the canned vegetables Industry presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the canned vegetables market based on Nature (Organic and Conventional), by Canning Type (Canned in Water, Canned in Oil, and Canned in Juice), by Vegetable Type (Corn, Peas, Beans, Carrots, Potatoes, Tomatoes, Spinach, Mixed Vegetables, and Other Vegetables), by Vegetable Group (Leafy Vegetables, Cruciferous, Marrows, Roots, and Others (Stems, Alliums, etc)), by Distribution Channel (B2B and B2C), By End-Use (HoReCa and Household/Retail), and across seven major regions.

Comprehensive Market Insights: Full Report Overview

Canned Vegetable Market by Category

By Nature:

  • Organic
  • Conventional

By Canning Type:

  • Canned in Water
  • Canned in Oil
  • Canned in Juice

By Vegetable Type:

  • Corn
  • Peas
  • Beans
  • Carrots
  • Potatoes
  • Tomatoes
  • Spinach
  • Mixed Vegetables
  • Other Vegetables

By Vegetable Group:

  • Leafy Vegetables
  • Cruciferous
  • Marrows
  • Roots
  • Others (Stems, Alliums, etc)

By Distribution Channel:

  • B2B
  • B2C
    • Hypermarket/Supermarket
    • Traditional Grocery Stores
    • Convenience Stores
    • Specialty Stores
    • Discount Stores
    • Online Retail

By End Use:

  • HoReCa
  • Household/Retail

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

Rising Trends: Global Vegan Desserts Market Valuation to Reach USD 6,698.4 Million by 2033

The global vegan desserts market is projected to grow from its 2023 estimate of USD 3205.07 Million to USD 6698.4 Million by 2033. Increases in veganism’s popularity, increased interest in vegan desserts, and continued market study all contribute to the growth of the vegan desserts industry. As a result, the forecast calls for an 8.5% CAGR in the vegan desserts market, with the United Kingdom, the United States, Germany, and Japan rising to prominence as producers.

Over the past few years, both veganism’s popularity and the availability of vegan-friendly items have skyrocketed. The market is flooded with plant-based sweet meals that are visually and flavorfully on par with their more conventional counterparts, thanks to the efforts of innovative chefs.

More and more, chefs from all over the world are venturing into the vegan desserts market and coming up with inventive new creations. For instance, Chef Fran Costigan offers not only vegan dessert recipes and publications, but also consultations, cooking schools, and classes, as she is widely regarded as a pioneer in the vegan desserts industry.

The number of people using these services has increased, which has been good for business. Restaurants and cafés are adding vegan desserts to their menus to accommodate the growing number of customers who have food allergies or intolerances, such as egg, dairy, or cholesterol. And the widespread accessibility of plant-based milks and fats has only served to increase the availability and sales of vegan desserts.

In addition, businesses have been prompted to include healthier components in their products due to a growing concern for customer health. Examples include the widespread avoidance of items containing white sugar as people become more informed about the health risks associated with this refined sweetener. As a result, manufacturers have begun to substitute sugar alternatives like sweet potato.

Innovative vegan food packaging is expected to see rising adoption, which is expected to boost the development of the industry.

Sustainable food packaging materials for meat-free items are in high demand because vegan dietary groups are generally concerned with environmental issues. More and more shoppers are placing a premium on accurate product labelling; as a result, vegan food producers like Oatly now include carbon labelling information on their tins and jars. As an added bonus, the American Firm No Evil Foods Sacred Serve is spending money to create cutting-edge sustainable packaging for its goods.

Key Takeaways

  • Given the robust increase in demand for bakery items and the expanding vegan trend, it’s likely that European customers are likely to make up the greatest share of the target audience for vegan desserts. Due to the high volume of tourists passing through Germany, Italy, and France, there is a growing vegan desserts market.
  • Due to rising demand from customers with dietary restrictions (such as egg allergies, lactose intolerance, or excessive cholesterol), vegan desserts are increasingly appearing on the menus of restaurants and cafes.
  • Companies like Nestle are responding to the rising demand for vegan products by introducing non-dairy lines, such as Haggen-Dazs ice cream, to markets like the United States.
  • Increased demand from consumers has led to healthy expansion for vegan milk.

Massive production and the introduction of vegan bakery chains have coincided with a rise in demand.

Because of the dramatic development in veganism’s adherent base and the increasing demand for vegan bakery goods, manufacturers have begun producing vegan baked goods on a massive scale.

Greggs, a major British bakery brand, recently reported a shortage of its new vegan sausage roll offering, indicating a rise in demand for such goods.

Vegan baked goods have seen a dramatic surge in popularity, leading to the opening of vegan bakeries all over the world. When online retailers saw the huge demand for vegan baking supplies during Great British Bake-Off Week, they revealed plans to open a dedicated vegan online baking store in 2018.

New vegan product lines are being introduced by many existing bakeries in response to the rising demand for vegan desserts. Large-scale investments in vegan baking establishments are predicted to increase demand for vegan desserts.

Businesses have been diversifying their offerings to attract a wider range of customers. So, Unilever introduced its Magnum brand of plant-based ice cream to the Swedish and Finnish markets in August of 2018. Currently, the brand is known as Magnum Dairy Free. Another Unilever-owned brand, Cornetto, also offers a dairy-free ice cream option.

Some of the most well-known names in vegan desserts market are:

  • Unilever
  • Danone, S.A.
  • Cado
  • Ben & Jerry’s Homemade, Inc.
  • BOSH!
  • Grupo Bimbo
  • OGGS
  • Daiya Foods Inc.
  • Alternative Foods

Get Strategic Guidance from Our Analyst Contact us on: +1-347-918-3531

Key Segments

By Product:

  • Biscuits/Cookies
  • Cakes & Pastries
  • Custard & Puddings
  • Frozen Desserts (Ice-creams, Yogurts, etc.)
  • Others

By Flavor:

  • Unflavored
  • Vanilla
  • Chocolate
  • Others (banana, strawberry, etc.)

By Form:

  • Liquid
  • Solid

By Distribution Channel:

  • E-commerce
  • Offline
    • Vitamins & Supplements Stores
    • Retail and Departmental Stores
    • Supermarkets
    • Vegan Fairs
    • Others

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

RTD Cocktail Shot Market Set to Exceed USD 9,395 Million by 2034 Amid Rising Demand for Ready-to-Drink Beverages | FMI

Picture background

The outlook for the RTD cocktail shot market over the next decade is promising, with a projected compound annual growth rate (CAGR) of 9.3%. Global sales are expected to reach USD 3,856 million in 2024, rising to USD 9,395 million by 2034.

According to Future Market Insights (FMI), the demand for RTD cocktail shots is expected to surge with growing consumption of cocktails and preference for fresh products. Hence, key playera are trying to capitalize on the trend by presenting a classic cocktail in a container made with natural ingredients.

Further, sales of ready-to-drink cocktail shots are also burgeoning as they do not require preparation. Also, availability of high-quality ready-to-drink cocktail shots are proving to be a turnkey solution that saves time and money.

In terms of packaging, the cans segment is expected to dominate the RTD cocktail host market. Millennials and several craft brew enthusiasts prefer cocktail from a can, improving the demand for canned RTD cocktail shots.

Key Takeaways from Market Study

  • The ready-to-drink cocktail shots market is expected to expand at CAGR of 9.3% over the forecast period.
  • The size of the RTD cocktail shot market is estimated to be USD 3,856 million in 2024.
  • Sales in the United States are expected to surge at a CAGR of 11.3% through 2034.
  • Canada is forecast to register a CAGR of 12.4% through 2034.

“Ease in convenience coupled with busy lifestyle has increased the demand for ready-to-drink cocktail shots. Hence, key players are introducing fresh flavors to capitalize on growing demand,” says a Future Market Insights analyst.

Competitive Landscape

Key manufacturers of global ready-to-drink cocktail shots market are focusing on research & development in order to develop innovative and unique product offering. In addition to this, these key players in the ready-to-drink cocktail shots market are also concentrating on merger, acquisition and joint ventures to expand their geographical presence and to increase the existing production capacity.

  • In 2018, Bacardi Ltd announced the completion of its acquisition of PATRON brand of Patron Spirits International AG, the world’s best-selling ultra-tequila. With this acquisition, Bacardi becomes the leading spirits company in the ultra-segment in the United States, as well as the second largest in terms of market share by value.
  • In 2020, Bacardi Ltd, the world’s largest family-owned spirits company, announced the acquisition of batched cocktail and premium crafted company TAILS.

Leading RTD Cocktail Shot Brands

  • Halewood Wines & Spirits
  • Asahi Group Holdings Ltd.
  • Diageo plc
  • Bacardi Limited
  • Brown-Forman
  • Pernod Ricard
  • Shanghai Bacchus Liquor Co. Ltd.
  • Anheuser-Busch InBev
  • Suntory Holdings Limited
  • Manchester Drinks Company Ltd.

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global ready-to-drink cocktail shots market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Explore In-Depth Analysis- Click Here to Access the Report

Key Segments of Market Report

By Type:

Based on the type, the RTD cocktail shot market is divided into malt-based, wine-based, and spirit-based.

By Distribution Channel:

Based on the distribution channel, the industry is categorized into hypermarkets/ supermarkets, liquor stores, online channels, and bars and restaurants.

By Packaging:

Ready-to-drink cocktail shots come in cans and bottles.

By Region:

The sector has been analyzed with the following regions covered: North America, Latin America, Europe, South Asia, East Asia, Oceania, and 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.

Contact FMI:

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

Rising Demand for Plant-Based Alternatives: Vegan Steak Market to Grow at 7.3% CAGR | Future Market Insights Inc.

The global vegan steak market is valued at approximately USD 598.6 million in 2023 and is projected to grow at a CAGR of 7.3% from 2023 to 2033. According to market forecasts, the total market value is expected to reach USD 1,129.6 million by 2033.

Meat has historically been a key source of nutrients in developed Western European countries, creating a robust market for vegan steaks. Conversely, there has been a recent uptick in demand for traditional protein sources in Eastern economies.

As the trend toward veganism grows in these regions, the demand for vegan steaks and other plant-based protein alternatives is increasing rapidly in both global and local markets. With consumers showing a willingness to invest time in exploring these new food options, vegan steaks are expected to attract a growing number of new consumers in the future.

Key Takeaways from the Vegan Steak Market Study

  • The US vegan steak market size was estimated to be around US$ 168.5 Mn in the previous year. As per the market analysis report, this regional market contributes to around 30.2% of the overall sales of vegan steak achieved around the world.
  • Germany is the second leading market in the demand for vegan steaks which contributes to around 16.9% of the overall sales. In the European region, it is the largest market that generated a revenue of US$ 94.3 Mn in the year 2022.
  • In the Asia Pacific region, Japan is the dominant market in the production and consumption of several plant based food products. As per the market statistics report for the year 2022, this market for vegan steaks in Japan reached a market size of US$ 30.7 Mn.
  • Contrarily, the United Kingdom is the fastest-growing nation in terms of accepting vegan meat steak alternatives by following a CAGR of 8.5%. Such a higher growth rate is predicted to take the vegan steak market share of the UK from US$ 52 Mn in 2023 to US$ 126.5 Mn by 2033.
  • On the other hand, vegan food product businesses in China are surfacing as staunch competitors in the global market in these years. Moreover, the overall market for vegan steaks in China is projected to register a higher CAGR OF 6% from 2023 to 2033 concluding at a total value of US$ 97.4 Mn.

Recent Developments in the Vegan Steak Industry

  • In March 2023, Impossible Foods unveiled Beef Lite, a modified rendition of its plant-based beef substitute that aims to surpass lean ground animal beef in quality. With a protein content of 21 grams, Beef Lite boasts 75% less saturated fat and 45% less total fat compared to 90/10 lean beef from traditional cattle. Additionally, it serves as a valuable source of fiber and is entirely devoid of cholesterol and Trans fats.
  • In February 2023, Waitrose introduced a vegan steak that resembles marbled meat and placed it alongside real meat on the store shelves. The steaks, developed by biotechnicians from the Slovenian start-up Juicy Marbles, feature nuggets of solidified sunflower oil to replicate the appearance of fat marbling. Additionally, beetroot powder gives the “flesh” and juices a red hue.
  • In October 2022, Beyond Meat, a well-known brand for vegan meat alternatives introduced its inaugural vegan steak. This innovative product aims to provide a succulent, tender, and delectable experience akin to biting into slices of steak tips. Each serving of this steak contains an impressive 21 grams of protein.
  • In July 2019, Gardein revealed plans to broaden its selection by introducing eleven additional frozen ready meals. Alongside the groundbreaking Sliced Italian Sausage, Gardein is introducing the first-ever vegan meat product of its kind. The lineup includes a vegan Shakshuka Breakfast Bowl, a Steak & Eggs Breakfast Bowl, and a Lambless Vindaloo Skillet Meal.

Key Players Profiled in the Vegan Steak Market Report

  • Danone S.A
  • The Archer Daniels Midland Company
  • Daiya Foods Inc.
  • Ripple Foods Inc.
  • Impossible Foods Inc.
  • Eat Just, Inc.
  • Beyond Meat, Inc.
  • Amy’s Kitchen
  • Tofutti Brands Inc.
  • Earth’s Own Food Company Inc.
  • Gardein
  • Field Roast

Tap into Expertise: Discuss with Our Analyst on Email: sales@futuremarketinsights.com

Key Segments

By Source:

  • Soy
  • Almond
  • Wheat
  • Others

By Distribution Channel:

  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Online Platforms
  • Others

By End User:

  • Packaged Food Industries
  • Hotels and Restaurants
  • Retail Food Shops
  • Domestic Consumers
  • Others

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

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 Food Grade Carrageenan Market Set to Hit USD 2.6 Billion by 2034, Predicts FMI

Picture background

The global food grade carrageenan market (Mercado de carragenina de calidad alimentaria) will reach a valuation of USD 1.3 billion in 2024, attributed to factors such as emerging markets for processed foods. The trend is set to create new opportunities for the market, leading to a projected CAGR of 7.1% between 2024 and 2034, and reaching a total valuation of approximately USD 2.6 billion by 2034.

There is a growing demand for food products that cater to specific health needs, such as reduced fat or sugar free options, with an aging population globally.  Carrageenan enables the formulation of such products while maintaining desired sensory properties.

The development of clean meat alternatives, such as cultured meat and plant based meat substitutes, presents an opportunity for carrageenan as an ingredient to enhance texture and juiciness, mimicking the sensory experience of traditional meat products.

Carrageenan is used in meat and seafood products to improve moisture retention, texture, and sliceability. The demand for carrageenan in these categories will rise, as consumers seek healthier and more convenient protein options. Collaborations between carrageenan producers, food manufacturers, and research institutions can drive innovation, leading to the development of new formulations, applications, and production methods.

Carrageenan is naturally gluten free, making it a suitable ingredient for manufacturers looking to cater to consumers with gluten sensitivities or those following a gluten free diet. The increasing demand for gluten free products presents an opportunity for carrageenan usage.

The growth of e-commerce platforms and direct to consumer channels provides carrageenan suppliers with new avenues to reach customers, particularly small and medium sized food producers and startups.

Manufacturers are increasingly offering customized carrageenan blends and formulations tailored to specific applications and customer requirements, allowing for greater versatility and optimization in various food products. Consumers are increasingly concerned about the environmental impact of food production.

Carrageenan producers focusing on sustainable sourcing practices, transparent supply chains, and traceability initiatives can capitalize on consumer preferences for environmentally friendly products.

Key Takeaways from the Market Study

  • Global food grade carrageenan market was valued at US$ 7 million in 2023.
  • From 2019 to 2023, the market demand expanded at a CAGR of 6.3%.
  • The market in India to expand at a CAGR of 6.2% through 2034.
  • By application, the food processing segment to account for a share of 25.5% in 2024.
  • The market in China will expand at a CAGR of 5.3% through 2034.
  • In terms of function, the gelling agent segment to account for a share of 34.5% in 2024.

“Ongoing advancements in extraction, purification, and processing technologies for carrageenan production can lead to increased efficiency, cost effectiveness, and quality improvement,” remarks an FMI analyst.

Competitive Landscape

Prominent players in the food grade carrageenan market are DuPont, Cargill, CP Kelco, Ashland Inc., Ingredion, Ceamsa, W Hydrocolloids, Inc., Gelymar, Ina Food Industry Co. Ltd., and ACCEL Carrageenan Corporation, among others.

Top of Form

Company Portfolio

  • CP Kelco offers carrageenan solutions under its GENU Carrageenan brand, providing a variety of refined and semi refined carrageenan products tailored to meet specific customer needs. Their carrageenan portfolio includes options for texture modification, stabilization, and gelling in food and beverage formulations.
  • Ashland Inc. provides carrageenan products under its Food and Beverage Specialty Ingredients division. Their carrageenan offerings are designed to enhance texture, stability, and mouthfeel in food applications such as dairy, desserts, sauces, and plant based products, meeting the demand for clean label and natural ingredients.

In-Depth Market Analysis: A Complete Report

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global food grade carrageenan market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the food grade carrageenan market, the market is segmented on the basis of product type (iota, kappa, lambda), function (gelling agent, thickening agent, stabilizer, other functions), and application (pharmaceutical, beauty and personal care, food processing, other applications), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa.).

About the Food and Beverage Division at Future Market Insights

The food and beverage team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

About Future Market Insights (FMI)

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

Contact FMI:

Future Market Insights Inc.
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

Business Process Automation (BPA) Market is Supposed to Rise at a CAGR of 11.8% by 2033 | Future Market Insights, Inc.

The revenue of the business process automation (BPA) market is expected to increase by USD 13.7 billion by 2023. The business process automation (BPA) market is estimated to reach USD 41.8 billion by 2033, increasing at an 11.8% CAGR from 2023 to 2033.

Managing business workflows and optimizing business processes are two key topics in business process automation. This involves better integration of various business processes and systems, as well as the growing use of cloud-based BPM solutions. Business process management (BPM) has been increasingly important in assisting firms in gaining a competitive advantage as automation levels in enterprises have increased.

Advanced technologies and frameworks are rapidly emerging to enable enterprises to automate their business activities. Businesses’ interest in BPM is expanding in tandem with the development in digitalization, globalization, and digitization of industries.

Explore In-Depth Analysis—Click Here to Access the Report!

Cloud-based business process automation technologies have made BPM more accessible to businesses of all sizes. Cloud-based BPA software’s key characteristics include high scalability, faster deployments to meet service delivery demand, 24×7 continuous availability, and reduced operational costs.

Key Takeaways from the Business Process Automation (BPA) Market Report:

  • By deployment type, the cloud-based BPA software segment is anticipated to account for the leading share in the global business process automation market.
  • On-premise BPA software segment is estimated to grow at a robust CAGR of 7.3% through the forecast period.
  • Among the enterprise size, the large enterprise segment is estimated to grow by 2.8X during the forecast period.
  • By industry, the BFSI industry segment is anticipated to grow at the highest CAGR of 14.5% from 2022 to 2032, followed by IT & Telecom industry.
  • North America is expected to dominate the business process automation market followed by Europe in 2022.
  • South Asia & Pacific region is estimated to be the fastest-growing region during the forecast period.
  • The market in the U.S. is expected to progress at a CAGR of around 10.9% through 2032.
  • In India, the business process automation market is expected to grow by 4.4x during the forecast period.
  • The business process automation market in East Asia is estimated to witness an absolute $ opportunity of US$ 5,583.1 Million in the forecast period.

Competitive Landscape

Market actors are prioritizing research and development efforts to support future technologies. Furthermore, numerous corporations are forging strategic alliances with other businesses to develop their own process automation to better serve customers.

  • In February 2022, Laserfiche, a SaaS provider of intelligent content management and business process automation, and DoubleYard, Inc., a major player in the optical and image character recognition (OCR/ICR) market, announced a collaboration to develop and automate character recognition.
  • In March 2021, Kissflow, a BPA Software firm, established a relationship with Redington, an Indian IT Supply Chain and Distribution Solution Provider, to enhance Kissflow’s NO-CODE platform’s reach in India.
  • In July 2021, IBM acquired myInvenio to provide clients with data-driven solutions that can help them identify the most important business tasks to automate using AI, such as sales, procurement, production, and accounting.

Leading Key Players:

  • TIBCO Software Inc
  • OptimumHQ
  • Microsoft
  • Zoho Corporation Pvt
  • Oracle
  • Process Bliss
  • Process Street
  • Prophix
  • Nintex United Kingdom Ltd

Business Process Automation (BPA) Market Outlook By Category

By Deployment Mode:

  • On-premise BPA Software
  • Cloud-based BPA Software

By Enterprise Size:

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

By Industry:

  • IT & Telecom
  • Retail
  • Government
  • Healthcare
  • BFSI
  • Manufacturing
  • Others

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:     

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

Projected Surge: Middle East Food Premix Market to Grow at 10.1% CAGR, Reaching USD 512 Million by 2033

Over the forecast period, the Middle East food premix market is anticipated to grow at a CAGR of 10.1%. The market value is expected to rise from USD 195 million in 2023 to USD 512 million by 2033.

Premixes are becoming immensely popular because they are becoming highly aware of their health and have more income. Hence, they want to supplement their diets with nutritious meals that are simple to eat and available in both liquid and powder form.

Rising incidence of vitamin deficiency cases and increasing demand for food products fortified with vitamins would push the Middle East food premix market in the next ten years. High consumption of vitamin supplements and surging preference for functional ingredient blends are a couple of other key drivers of the market.

Consumers are seeking products that would help them in enhancing focus & vision and cognitive functions. Customized premixes are hence an absolute choice for the sports nutrition industry. It has been scientifically proven to reduce fatigue and lead to improved concentration, health, and vision.

Key Takeaways from Middle East Food Premix Market Study:

  • The Middle East food premix market is likely to record a CAGR of 10.1% from 2023 to 2033.
  • Based on form, the powder segment is likely to generate more than 70% of share in the Middle East food premix market in the next ten years.
  • By application, the dietary supplements are set to cover around 18% of share in the Middle East food premix market by 2033.
  • In terms of function, the immunity segment is estimated to hold the lion’s share in the Middle East food premix market by 2033.
  • The Middle East food premix market witnessed a CAGR of 9.7% in the historical period from 2018 to 2022.

Competitive Landscape

The Middle East food premix market is highly fragmented and competitive due to the presence of numerous global players. To enhance their market positions, leading companies are employing a range of strategies, including partnerships, expansions, mergers and acquisitions, and collaborations.

For instance

  • In March 2022, micronutrient premixes were introduced by SternVitamin that could improve mental and cognitive function. The business claims that they enhance brain function while lessening the impacts of stress. The premix concepts demonstrate the tight relationship between micronutrients and mental health.
  • In April 2022, at the international Vitafoods Europe exhibition for the nutraceutical industry, Glanbia Nutritionals, a provider of ingredients and service solutions, introduced TechVantage. TechVantage is a functionally optimized nutrition technology platform that will offer customers nutrient solutions with improved solubility, flowability, and stability, as well as the ability to mask flavors and colors.

Key Companies Profiled

Lycored; B&H Biotechnology Co. Ltd; Barentz; Watson Inc.; UFUK KIMYA ILAC SAN. TIC. LTD; Vitamiks Gida San. Ve. Ticaret Ltd.; Fenchem; Archer Daniels midland company; Jubilant life science; Koninklijke DSM N.V.; Sternvitamin GMBH & Co.; Prinova Group LLC; Hexagon Nutrition Pvt. Ltd; Farbest Brand; Glanbia PLC

Get Strategic Guidance from Our Analyst Contact us on: +1-347-918-3531

Middle East Food Premix Market Outlook by Category

By Form:

  • Powder
  • Liquid

By Ingredient Type:

  • Vitamin
  • Minerals
  • Amino Acid
  • Nucleotides
  • Botanicals

By Application:

  • Dietary Supplement
  • Food & Beverages
  • Pharma Over-the-counter Drugs
  • Early Life Nutrition (Baby Foods)

By Function:

  • Bone Health
  • Immunity
  • Digestion
  • Vision Health
  • Energy
  • Weight Management
  • Heart Health
  • Brain Health & Memory

By Country:

  • Saudi Arabia
  • Qatar
  • United Arab Emirates
  • Bahrain
  • Kuwait
  • Oman
  • Israel
  • Rest of the Middle East

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

Strategic Insights into the Palm Oil Market: Growth Forecasts and Revenue Trends Through 2033

The palm oil market is projected to grow at an average CAGR of 4.48% from 2023 to 2033. By 2033, the market is expected to reach a valuation of USD 109.97 billion, up from USD 70.95 billion in 2023.

  • Both refined and unrefined grades of palm oil have diverse applications across various industries, boosting global demand for the product.
  • The resurgence of industries such as food, bakery, and packaged snacks is driving the palm oil market, as it is used in 50% of food products, including fried, baked, and frozen items.
  • The growing use of palm oil as a secondary fuel or biofuel is gaining momentum. Additionally, Southeast Asian economies are shifting from traditional energy sources to sustainable ones, further driving global palm oil sales.
  • Palm oil’s attributes, including its lack of trans fats and affordability, make it a favored choice for local food outlets and eateries. Its applications in palm products and fertilizers also contribute to its rising demand across various sectors.

Key Points

  1. The United States market leads the palm oil market in terms of market share in North America. The North American region held a market share of 13.3% in 202 The growth in this region is attributed to the restoration of the food & beverage industry along with the changing eating lifestyle of people.
  2. The United Kingdom’s palm oil market is another significant market in the European region. Europe, with higher tourist footfall, has an active food industry that cooks all kinds of food items. The rising popularity of ready-to-eat snacks is also fueling the demand for palm oil.
  3. The Chinese palm oil market is anticipated to thrive at a healthy CAGR during the forecast period. Asia-pacific region held a major market share of 72% in 2022. The growth is attributed to increased population, lower per capita incomes, and energy transition programs.
  4. The conventional nature type segment is leading the segment as it held a market share of 98% in 2022. The growth is attributed to the easy accessibility and higher palm oil production
  5. Based on the product type, the fractionated segment leads as it held a major global share of 40% in 2022.

Competitive Landscape

Key players are concentrating on introducing various grades of palm oil tailored for different industries and sectors. The increasing demand for naturally processed palm oil is driving vendors to invest in machinery that yields a higher percentage of pure oil. Additionally, clean label packaging is helping vendors attract a diverse range of end-users.

Recent Market Developments

  • Fuji oil group has introduced the “Responsible Plan Oil Procurement Polic” which sets out a commitment to zero forestation with no peatland available.
  • Asian Agri has revisited its palm oil grades with enhanced formulation and expanded palm oil plantation.

Key Players

  • Archer Daniels Midland
  • Wilmar International Ltd.
  • Sime Darby Plantation Berhad
  • IOI Corporation Berhad
  • Kuala Lumpur Kepong Berhad
  • United Plantations Berhad
  • Kulim (Malaysia) Berhad
  • IJM Corporation Berhad
  • PT Sampoerna Agro, Tbk
  • Univanich Palm Oil Public Company Ltd.
  • PT. Bakrie Sumatera Plantations tbk
  • Asian Agri
  • Agropalma S.A.
  • Boustead Holdings Berhad
  • Fuji Vegetable Oil, Inc.
  • New Britain Palm Oil Limited

Get in Touch for Expert Analysis: Connect with Our Specialist on Email: sales@futuremarketinsights.com

Palm Oil Market: Segmentation

By Nature:

  • Organic
  • Conventional

By Product Type:

  • CPO
  • RBD Palm Oil
  • Palm Kernel Oil
  • Fractionated Palm Oil

By End User:

  • Food & Beverages
  • Personal Care & Cosmetics
  • Pharmaceuticals
  • Biofuel & Energy
  • Others

Key Regions Covered:

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific Excluding 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.

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