Market Research Blog – Page 14633 – New Product Development

Kombucha Market Potential Growth, Share, Demand And Analysis Of Key Players, Forecasts To 2032

The global kombucha market is estimated at USD 575.6 Mn in 2022 and is projected to reach USD 2,380.4 Mn by 2032, at a CAGR of 15.3% from 2022 to 2032. Globally, the market is estimated to create an absolute $ opportunity of about USD 1,804.8 Mn by 2032.

Beverage brands from across the globe are looking to capitalize on the kombucha boon. They are launching new kombucha-based drinks with bold claims of various health benefits. Success witnessed by kombucha brands is majorly steered by the rising consumer preference for functional drinks. It seems that the market has fewer hindrances except mixed clinical evidences on kombucha benefits.

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Be it as it may, the kombucha market has witnessed meteoric rise in popularity in developed markets in the last decade. Bolstered by the strength of health-focused marketing campaigns, the demand for kombucha is poised to surge as soon as economies move past the coronavirus crisis.

The FMI study delves deeper into the prevailing dynamics to offer interesting insights into the kombucha market. Some of these are:

Kombucha is available in a gamut of flavors, ranging from berries to herbs and spices. Growth witnessed in the herbs and spices segment is expected to rise at 18% over the forecast period.
North America and Europe are expected to remain the dominant markets for kombucha. Collaborations between popular kombucha brands and local restaurants and cafes will give significant impetus to the market across these regions.
Expansion of organic retail shops to bode well for the kombucha market. Flavored kombucha is often among the best-selling products in these stores.
Heightened focus on health and wellness among consumers due to COVID-19 outbreak will enable the market gain pace in the coming years.

Market segmentation

The global kombucha market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

Flavour

Regular
Herbs & Spices
Citrus
Berries
Apple
Coconut & Mangoes
Flowers
Others

Sales Channel

Food and Drink Specialty Store
Hypermarket/Supermarket
Convenience Store
Online Retail

Packaging

Glass Bottles
Cans

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Kombucha, Touted for its Many Health Benefits, to Witness Skyrocketing Sales

Success witnessed in the global kombucha market is majorly steered by the rising demand for healthier alternatives to carbonated drinks. The unprecedented outbreak of the novel coronavirus and easy access to information have rendered consumers more aware than ever before. As per data published by an AI powered food intelligence start-up Tastewise, the mention of “immunity” in food searches rose by an impressive 27% between February 2019 and March 2020. Kombucha is among the grocery items that has particularly witnessed uptick interest since the onset of COVID-19. The rising inclination towards the consumption of organic food entails growth prospects for the kombucha market.

Who is winning?

The kombucha market is a consolidated one, with 50% to 60% of its share belonging to a handful of companies. Although several aspiring manufacturers have mushroomed around the world, lion’s share of the market remains with top manufacturers, mostly belonging from the U.S. In order to make their presence felt, a majority of companies are focusing on advertising. Bold claims with regards to the health benefits of fermented tea and marketing their brands as miracle elixir are common strategies followed especially by local manufacturers to strengthen their foothold in the market. Other than this, leading brands are focusing on product launches and expansion to drive their sales.

For instance, Starbucks Corporation began offering kombucha under its brand Evolution Juice, starting 2018.
In 2018, RISE Kombucha ventured into expanding its market across the U.S.

Get Valuable Insights into Kombucha Market

Future Market Insights, in its new report, presents an unbiased analysis of the global kombucha market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. In terms of flavour, the market can be segmented into regular, herbs & spices, berries, citrus, apple, coconut & mangoes, flowers, and others. Based on sales channel the market can be segmented into food and drink specialty stores, hypermarkets/ supermarkets, convenience stores, and online retail. In terms of packaging the market can be bifurcated into glass bottles and cans. Regionally, the market covers North America, Latin America, Europe, Japan, Asia Pacific excluding Japan, and the Middle East and Africa.

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Patchouli Oil Market 2022| Latest Trends, Demand, Growth, Opportunities & Outlook Till 2030

The patchouli oil market, globally, is expected to grow at a CAGR of 2.8% in terms of revenue during the forecast years. Revenue obtained from the global patchouli oil market is projected to reach US$ 86.6 Mn by 2028.

Patchouli oil is extracted from the leaves of the patchouli plant. This extraction is carried out either by steam distillation or hydro distillation. There are two types of patchouli oil depending on the type of equipment used for the extraction procedure – light patchouli oil and dark patchouli oil.

With increased adoption in various end-use industries including cosmetics and personal care—specifically perfumery, aromatherapy, food processing, and pharmaceutical, demand for patchouli oil is projected to grow. However, the patchouli oil demand is anticipated to remain elastic as farmers in the Sumatra Region of Indonesia—largest producer of patchouli oil, are making a shift towards other crops owing to price volatility, thereby impacting the overall development of global patchouli market.

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However, to reverse such market dynamics associated with patchouli oil, global manufacturers are making notable investment to provide sustainable livelihood to Indonesian farmers of patchouli plants. Recently, Givaudan, in its initiative to develop a sustainable patchouli supply chain in Indonesia, is likely to set up patchouli distillation units in the region, along with training patchouli farmers and their families on efficient distillation and agricultural practices.

Joint partnerships between manufactures and farmers in anticipated to translate into good quality patchouli, in the coming years. According to a new research released by Future Market Insights (FMI), the market for patchouli oils in MEA and developing economies of APAC will record comparatively higher growth than in developed markets.

Patchouli Oil Market Structure Analysis

Produced in region pockets of Indonesia, India, China, Malaysia, and Taiwan, patchouli oil is mostly dominated by regional players including PT Mitra Ayu Adi Pratama, PT Aroma Essence Prima, Nusaroma PT, and Eastern Agencies Aromatics Pvt. Ltd, accounting for nearly 45-60 percent market share. However, the multinational players such as Ultra International B.V., Givaudan SA, Takasago International Co., Firmenich SA, and PT Indesso Aroma, having a comparatively larger share in the patchouli oil market than the regional players, hold nearly 20-35 percent market share. Regional players rely on joint partnerships with multinational companies to reach a larger market.

FMI anticipates potential investment opportunities for new players, considering increasing demand for essential oils across several end-use industries, specifically the global fragrance and cosmetics industry in MEA. In addition,

Latin America and Eastern Europe are projected to represent notably low demand for patchouli oil, considering the dormant cosmetics and essential oils market in the regions.
Demand for patchouli oil in MEA is likely to surpass demand in North America and Western Europe, owing to growing demand for clean label and organic products,
Owing to robust distribution networks, demand for patchouli oil in North America and Western Europe is expected to remain promising.

Consumers Demand ‘Clean Labels’ and ‘Purity Certifications’

Paradigm shift towards more organic and natural ingredients in the goods coupled with good manufacturing practices, is estimated to increase the demand for natural and organic patchouli oils in the global market. Moreover, as demand grows for minimally processed, plant derived essential oils such as the patchouli oil offers all-natural alternatives to synthetic food additives and preservatives as effective antimicrobial agents. Manufacturers, on the other hand, could experiment with the average pricing of good containing naturally-obtained patchouli oil. Looking ahead, natural and organic skin care products will be also be boosted by demands for clean label products.

Increasing demand for ‘eco-perfumes’ that no longer have animal notes, are also contributing to the sales of patchouli oil in the global market. Manufacturers are increasingly replacing synthetic perfumes with natural ingredients in perfumes including the patchouli oil, as a fixative. Patchouli oil has found widespread adoption in the perfumery industry, owing to its ability to slow the evaporation process of other volatile oils. Moreover, consumers are also demanding organic certifications natural and pure oil including iFEAT, USDA Organic, and FSSC 22000, translating into higher sales of products with such certifications. FMI anticipated higher demand for organic patchouli oil variants in the coming years, representing an annual growth rate of around 4.4% considering increased efforts by manufacturers to cultivate their own organic patchouli plants and further educate farmers.

Global Patchouli Oil Market: Segmentation

Analysis by Product Type

Light Patchouli Oil
Dark Patchouli Oil

Analysis by Nature

Organic
Conventional

Analysis by Extraction Process

Steam Distillation
Hydro Distillation

Analysis by End Use

Cosmetics and Personal Care
- Hair Care
- Skin Care
- Perfumes and Fragrances
Aromatherapy
Food and Beverages
Pharmaceuticals
Others (Detergents, Household Cleaning, Insect Repellents)

Analysis by Function

Anti-inflammatory
Antidepressant
Flavoring Agent
Mood Harmonizer
Deodorizer
Others

Analysis by Distribution Channel

Direct Sales
Indirect Sales
- Specialty Stores
- Drug Stores
- e-Retail

Analysis by Region

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific
India
Middle East and Africa

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Key Insights Drawn from Global Patchouli Oil Market Report

North America is anticipated to hold around 27.5% share in terms of value in the global patchouli market in 2018, considering a well-established supply chain in the region.
APAC patchouli market is projected to witness rapid growth, and register a CAGR of 3.4% over the forecast period of 2018-2018, owing to the increasing demand for patchouli oil in the growing markets of Asia.
In terms of product type, dark patchouli oil, will find increased preference aromatherapy, pharmaceuticals, and insecticides.

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Vegan Cheese Market 2022 Global Development Countries Trends, Size, Industry Reviews with Leading Players

Newly released data from the global vegan cheese market Analysis shows that the global vegan cheese market enjoyed year-on-year (YoY) growth of 5.7% in 2022 and is estimated to be USD 3,032.0 Mn in 2022 and is expected to witness a prominent growth rate of 9.3% to reach the value of USD 7,352.2 Mn in 2032.

The report examines the factors influencing the market from a global as well as regional perspective. It discovers hidden opportunities for the leading market players. In addition to this, the report identifies the chief growth drivers, restraints, and opportunities.

Additionally, the rise of the vegan cheese business is fueled by rising personal disposable income, altering tastes and preferences, and more adoption of the western lifestyle. Other market growth determinants include an increase in the worldwide vegan population and growing worries about the safety and health of animals. Manufacturers’ increased focus on novel product offerings, combined with increased limits on animal-based food items, will provide the market with even more profitable growth potential.

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Some of the key takeaways from the report are:

The expansion of plant-based food industry will support the growth of the vegan cheese market. With the demand for plant-based alternative rising, the market is likely to report impressive growth through the course of the forecast period.
In terms of distribution channel, the vegan cheese market is broadly categorized into direct and indirect sales channels. Of these, the indirect sales segment holds dominant vegan cheese market share.
Among indirect sales segments, convenience store is likely to emerge as the most attractive segment.
Among product types available in the market, the demand for mozzarella vegan cheese is expected to remain high owing to its versatility of use in different recipes.
On the basis of source, the almond milk segment is forecast to witness highest growth.

Rising Incidence of Lactose Intolerance to Fuel Demand for Vegan Cheese

A considerably large section of population around the world is lactose intolerant. People with lactose intolerance can rarely enjoy delicacies prepared with milk or milk-derived ingredients. It is due to this that the demand for vegan cheese is on a rise. Vegan cheese is a plant-based dairy alternative, particularly suitable for those suffering from lactose intolerance. Against this backdrop, an increasing number of hotels, restaurants, and cafes have started introducing vegan cheese in their menu to attract consumers who prefer vegan diets and those who are lactose intolerant.

Increasing Disposable Income of Consumers Supports their Purchase Decision

In the last couple of years, consumers’ willingness to spend on exotic and humane plant-based diet has greatly increased. In addition to this, a stable increase in the demand for novel food alternatives is noticed. They are motivated by various advertisements and campaigns to obtain essential nutrients from plant-based alternatives, and this decision is supported to an extent by their increasing disposable income.

Who is winning

Despite witnessing impressive growth opportunities, lack of awareness is a key factor limiting the market’s expansion in developing and underdeveloped regions. As a result of this, conventional dairy products continue to remain popular in several potentially lucrative markets. This is a chief factor restraining the market’s expansion.

Nonetheless, the market players are likely to overcome this challenge as they invest in marketing strategies besides innovating healthier and more cost-effective vegan cheese. Also, concerns pertaining to animal welfare is expected to tip scale in favour of veganism, in turn bolstering growth opportunities for the vegan cheese market.

Some of the leading players operating in the vegan cheese market are Daiya Foods, Inc., Follow Your Heart, Go Veggie, Parmela Creamery, Kinda Co., Bute Island Foods Ltd., Vtopian Artisan Cheeses, Kite Hill, Miyoko’s Kitchen, Vermont Farmstead, and Good Planet Foods.

Market Segments Covered in Vegan Cheese Market Analysis

Product Type

Mozzarella
Parmesan
Cheddar
Cream Cheese
Ricotta
Others

Form

Shreds
Blocks and Wedges
Slices

Source

Almond Milk
Soy Milk
Coconut Milk
Cashew Milk
Others

End-Use

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

Nature

Conventional
Organic

Sales Channel

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

Region

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

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Significant Contributions of the Report

Key Trends and Challenges: Detailed analysis on the ‘ins and outs’ of the market with qualitative research and quantitative insights
Recent Drivers and Opportunities: Detailed assessment on the key growth drivers, technological developments, and factors affecting the market over the forecast period.
Segmental Analysis: Extensive research on each segment and sub-segment, compiled by expert research analysts of FMI
Regional Market Forecast: Thorough analysis of each regional market to provide market players with real-time data and reliable statistic to gain a competitive edge in the industry
Competitive Landscape: Comprehensive analysis on prominent players and new entrants eyeing to improve their revenue prospects in the industry

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Cottonseed Oil Market to grow at a CAGR of 3.2% through 2028

The Cottonseed Oil Market is valued at US$ 4 Billion in 2021. The market is likely to grow at a CAGR of 3.2% through 2028, reaching US$ 5 Billion.

Registering decent consumption in retail and industrial sectors, cottonseed oil is gradually gaining ground in the food service provider segment as well. However, according to a new Future Market Insights’ study, the global revenue through cottonseed oil sales will continue to expand at a passive rate.

Towards the end of 2022, the global cottonseed oil sales are likely to cross the valuation of US$ 4 Bn and a majority of it will come from the sales observed in the Asia Pacific region, as reported by the FMI analyst.

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At a mere below-3% year on year revenue growth estimated for 2019 and ahead, the global cottonseed oil landscape reflects a sluggish growth outlook at a global level. The report based on the cottonseed oil market analysis discusses in detail the top two pull factors associated with the declining growth rate of cottonseed oil market revenue.

Gossypol Content of Cottonseed Oil Accounts for the Demand on Lower Side

Although the demand for edible oils, especially cold-pressed variants, is observing a steady upsurge across the globe, cottonseed oil remains an exception. The report cites ample presence of a compound – gossypol – in cottonseed as the key factor responsible for the restricted consumption of cottonseed products, including cottonseed oil.

“While constantly ongoing research is likely to result in lowering the toxicity levels of gossypol content in cottonseed, the overall growth of the demand for cottonseed and derived products such as cottonseed oil remains passive worldwide,” adds the analyst further.

Another strong factor restraining the sales of cottonseed oil is its neutral taste and indistinct flavor, unlike that of other edible oil competitors – as indicated by the FMI report.

Market segmentation

Global Cottonseed Oil Market Segmentation on the Basis of Nature

Organic
Conventional

Global Cottonseed Oil Market Segmentation on the Basis of Raw Material

Genetically Modified Cotton
Non-genetically Modified Cotton

Global Cottonseed Oil Market Segmentation on the Basis of End Use

Global Cottonseed Oil Market Segmentation on the Basis of Packaging

Global Cottonseed Oil Market Segmentation on the Basis of Distribution Channel

Industrial
- Food Processing Industry
  - Bakery & Confectionery
  - Sauces, Spreads, & Dressings
  - Shortenings/Margarine
  - Others
- Cosmetics & Personal Care
- Others
Food Service Providers
Retail/Households

Global Cottonseed Oil Market Segmentation on the Basis of Packaging

Bulk
Retail
- Pouches
- Cans
- Tins

Global Cottonseed Oil Market Segmentation on the Basis of Distribution Channel

Direct/B2B
Indirect/B2C
- Hypermarkets/Supermarkets
- Convenience Stores
- Traditional Groceries
- Online Retail

China’s Lead Sustains APEJ’s Top Consumer Position in Cottonseed Oil Landscape

Asia Pacific (excluding Japan), the largest cottonseed producer and exporter – and the potential goldmine for leading F&B manufacturers, processors, packagers, and import-export stakeholders – offers a heap of business opportunities increasing the likelihood for businesses to thrive in this regional market. India and China currently hold an almost equal revenue share in the APEJ market for cottonseed oil; however, according to the report, China is witnessing moderate yearly growth in revenue and thus will reflect higher incremental opportunity in the market, in coming years. At present, China accounts for more than 40% share of APEJ’s revenue, closely trailed by India.

Regional and Local Market Players Hold Important Positions in Cottonseed Oil Market

The global landscape of cottonseed oil is characterized by the active presence of a large number of MNCs as well as regional players, of which the former account for around 50% market value share whereas the latter make up for nearly 30% share of the total market value.

The report closely examines significant players in the cottonseed oil market such as Cargill, Incorporated, Archer-Daniels-Midland Company, Wilmar International Ltd, The Nisshin OilliO Group, Ltd, Bunge Limited, and Louis Dreyfus Company B.V. Moreover, the competition tracking involves some of the important regional and local level companies, including Gabani Industries Ltd., Asha Cotton Industries, PYCO Industries, Inc., and Matangi Cotton Industries.

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Significant Contributions of the Report

Key Trends and Challenges: Detailed analysis on the ‘ins and outs’ of the market with qualitative research and quantitative insights
Recent Drivers and Opportunities: Detailed assessment on the key growth drivers, technological developments, and factors affecting the market over the forecast period.
Segmental Analysis: Extensive research on each segment and sub-segment, compiled by expert research analysts of FMI
Regional Market Forecast: Thorough analysis of each regional market to provide market players with real-time data and reliable statistic to gain a competitive edge in the industry
Competitive Landscape: Comprehensive analysis on prominent players and new entrants eyeing to improve their revenue prospects in the industry

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Cultures Market Size Forecast to Reach US$ 1.3 Bn by 2032|FMI

As per the report by Future Market Insights (FMI), the global cultures market is expected to witness moderate growth, registering a CAGR of 4.1% during the forecast period 2016-2026. By the end of 2026, the global Cultures Market generated sales of nearly USD 1.3 billion in 2022.

A substantial increase in the food-borne diseases worldwide is driving the demand for microbial food cultures. Microbial food cultures such as fungi, bacteria, and mould are largely used by food processing companies. They help in preserving food, remove toxic compounds, thereby ensuring food safety. The organisms used in food cultures also offer health benefits to fermented food products. Also, with the increasing population of health conscious customers, the demand for probiotic and functional food is also increasing. Moreover, increasing demand for antibiotics to fight various microbial infections is fueling the growth of the global cultures market.

Advanced technologies are used by companies for the production of microbial food cultures under strict controlled conditions. Governments of various countries have also introduced regulations based on the characteristics and use of the microbial food cultures. The freeze-dried microbial food culture is also gaining traction in the global cultures market. Freeze-drying produces superior quality culture by providing long-term storage and also helps in retaining the intact structure of the food cultures. This also helps in supply-chain of food products as it increases shelf-life of the product.

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Key Highlights In The Global Cultures Market

The global cultures market is segmented on the basis of application, product type, and region. The product type is further segmented into starter, adjunct, probiotic, and other product types. Among the give product types, a starter is expected to see the highest growth during the forecast period. The starter segment is estimated to bring in more than US$ 455,900 million revenue by the end of 2026.

Based on the application, the global cultures market is segmented into beverages, Sauces, dressings, and condiments, bakery & confectionery, dried processed food, sweet & savoury snacks, frozen and chilled processed food, and other applications. Among these, bakery & confectionery segment is expected to be the fastest growing segment in terms of the application during the forecast period 2017-2026. By the end of 2026, bakery & confectionery is estimated to surpass US$ 366,600 million revenue.

Geographically, the global cultures market is segmented into Japan, Europe, Latin America, Asia Pacific Excluding Japan (APEJ), the Middle East and Africa (MEA), and North America. Europe is expected to witness significant growth during the forecast period. Germany, France, Russia, and the U.K., are anticipated to witness the highest growth in the region. Increasing demand for fermented and probiotic foods, the resulting in the use of microbial food cultures to preserve the food for a long time. Availability of advanced technology and infrastructure is also helping in the research and development of food cultures.

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Competition Tracking

Some of the key companies in the global cultures market include Cargill, Chr. Hansen, DuPont, Royal DSM, Tate & Lyle, Kerry Group, Ashland Inc, Ingredion, Naturex, KF Specialty Ingredients, and Evonik.

Region:

North America
Latin America
Europe
Japan
APEJ
MEA

Product Type:

Starter
Adjunct
Probiotic
Other types

Application:

Beverages
Sauces, dressings, and condiments
Bakery & Confectionery
Dried Processed Food
Sweet & Savoury Snacks
Frozen and Chilled processed food
Other Applications

Lactose Free Dairy Products Market | Scope of Current and Future Industry 2027

The global lactose free dairy products market is primarily characterised by the presence of a large number of regional and multinational companies. According to a recently published report by Future Market Insights titled “Lactose Free Dairy Products Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2019-2027),” the global lactose free dairy products market is estimated to reach a valuation of US$ 17,809.4 Mn by the end of 2027. Sales revenue is expected to increase at a CAGR of 5.3% during the forecast period 2019 – 2027.

Global Lactose Free Dairy Products Market: Drivers

Rise in organic food and beverage consumption is driving the lactose free dairy products market
Mature market for lactose free dairy products and a well aware consumer base is anticipated to boost the growth of new offerings of lactose free dairy products
Prevalence of lactose intolerance in the Latino population is driving consumers towards lactose free solutions in dairy products
Improving global economics is triggering consumer preference for premium products such as lactose free dairy products
High lactose intolerant population in certain regions is expected to create good potential for lactose free dairy products
A growing foreign population in the GCC and South African region is expected to drive demand for lactose free dairy products

An increasing global urban population is expected to drive the lactose free milk and other lactose free dairy products market

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Global Lactose Free Dairy Products Market: Forecast by Nature

On the basis of nature, the global lactose free dairy products market is segmented into organic and conventional segments. The global lactose free dairy products market is expected to be dominated by the conventional segment over the forecast period owing to its competitive price point. However, in terms of value, the organic segment is anticipated to witness high CAGR growth over the forecast period as a result of increasing demand for organic products across the globe.

Global Lactose Free Dairy Products Market: Forecast by Distribution Channel

On the basis of distribution channel, the global market for lactose free dairy products is segmented into supermarkets/hypermarkets, convenience stores, speciality stores and e-retailers. In terms of volume, the speciality stores segment is expected to witness comparatively low CAGR growth over the forecast period. In terms of value, the e-retailers segment is projected to witness high CAGR growth over the forecast period as a result of the increasing penetration of the internet and adoption of online shopping globally.

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Global Lactose Free Dairy Products Market: Forecast by Form

The form segment comprises semi-solid, liquid, and powder segments. In terms of growth, the liquid segment dominates the global market with a CAGR of 5.5% throughout the projected period. This growth can be attributed to a large volume consumption of whole milk. The semi-solid segment is also expected to perform well over the study period owing to increasing demand for yoghurt and cream based products.

Global Lactose Free Dairy Products Market: Forecast Product Type

On the basis of product type, the global market for lactose free dairy products is segmented into milk, condensed milk, milk powder, yoghurt, ice cream, desserts, butter/cheese, infant formula, processed milk products. The milk segment is anticipated to witness comparatively high growth over the forecast period owing to increased demand in the global market.

Global Lactose Free Dairy Products Market: Forecast by Region

In a majority of the developed as well as developing countries, increased per capita spending on dairy products is expected to drive revenue growth of lactates and related ingredients. This growing demand for milk and milk products offers significant growth opportunities for dairy products manufacturers. This is boosting the consumption and sales of lactose free dairy products across various regional markets.

About Food Market Division at FMI

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

Chickpea Flour Market Outlook Cover New Business Strategy with Upcoming Opportunity 2022 to 2032

As per the report by Future Market Insights (FMI), the global chickpea flour market generated sales of nearly USD 4.15 billion in 2022. Chickpea Flour is made by grinding whole dry chickpeas. Being a good source of fiber and protein, and cholesterol free, the demand for chickpea flour is increasing. Chickpea flour also helps to fight various health problems such as obesity, heart disease, diabetes, and cancer, hence the consumption of chickpea flour is increasing. Although chickpea flour is used across the globe, it is especially used in Indian cuisines.

Apart from providing health benefits, chickpea flour also has a subtle flavour which makes it perfect for desserts as well as savory dishes. Moreover, producers of the chickpea flour are also investing in the development of new products in order to serve the large customer base. Chickpea flour is also widely used in producing baked food products, hence the demand for chickpea flour is high among the companies producing backed products.

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Key Highlights on the Global Market for Chickpea Flour

The global market for chickpea flour is segmented on the basis of distribution channel, product type, application, and region. By distribution channel, the market is further segmented into Departmental Store, Convenience Store, Online Store, Modern Trade, Food Chain Services, and Other Distribution Channels. Food chain services are likely to emerge as the largest distribution channel for chickpea flour. By 2026 end, food chain services as a distributor of chickpea flour is estimated to bring in nearly US$ 1,600 million revenue.

Based on the product type, market segmentation includes kabuli and desi chickpea flour. Among these two products, desi chickpea flour is expected to witness significant growth as compared to the kabuli chickpea flour. Desi chickpea flour is estimated to exceed US$ 3,200 million revenue by the end of 2026.

By application, the segments include dairy products, beverages, bakery and confectionery, animal feed, extruded products, and other applications. Among these, chickpea flour is estimated to find the largest application in bakery and confectionery. Towards the end of the forecast period, bakery and confectionery is projected to generate revenue exceeding US$ 2,400 million revenue.

Based on the region, Asia Pacific Excluding Japan (APEJ) is expected to register the highest growth in terms of value throughout the forecast period 2017-2026. APEJ is estimated to exceed US$ 2,400 million revenue by the end of 2026. Chickpea flour is used on a large basis in Indian cuisines, especially in sweet desserts, snacks and various other dishes. Also, high cultivation of chickpea in the region is contributing to the growth of the chickpea flour market. Meanwhile, North America followed by Europe are also anticipated to witness substantial growth in the coming years. Changing eating habits and rising health consciousness among people is driving the market growth in the region.

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Competitive Landscape

Parakh Agro Industries Ltd, Bean Growers Australia, CanMar Grain Products, Best Cooking Pulses, Blue Ribbon, Great Western Grain, Diefenbaker Spice & Pulse, Batory Foods, Anchor Ingredients, The Scoular Company, EHL Limited, SunOpta, ADM, Ingredion, and The Scoular Company, are some of the leading companies in the global market for chickpea flour.

About Food Market Division at FMI

Pulse Flour Market to Witness a Pronounce Growth During 2031

The market for pulse flours is primarily driven by the flour’s health benefits. Pulse flours provide protein, fibre, and agricultural micronutrients while also reducing fat, which is an unusual characteristic in a diet. To improve the health benefits of gluten-free products, a tiny amount of pulse flour can be added.

Pulse flour is attracting consumers all around the world because of its distinctiveness, which is driving the industry. The US, India, and Canada are emerging markets for pulse flours, making it a viable market.

Pulse flours are commonly made from peas and chickpeas. Pulse Flour is ideal for making a wide range of snacks that cannot be made with wheat flour or any other flour. As a result of its diverse benefits, the Pulse Flour market is likely to develop over the forecast period.

Because of capital expenditures for in-house cooking, product uniformity, electricity costs, and stricter waste and environmental restrictions, tortilla and chip makers are switching to Pulse Flour instead of alternative flours.

Pulse Flour, on the other hand, comes with some limitations. Pulse flour quality is solely reliant on the type of pulse utilized and the pulse production technique used, both of which can degrade flour quality. Climate, rainfall, water sources and quality of water, as well as pesticides and manure utilized, all affect the quality of the completed product or flour.

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Key Highlights

Chickpea pulse flour segment is expected to expand at 11.6% CAGR over the forecast period.
Chickpea segment is estimated to account for 33.2% revenue share of the product type segment by 2021 end and is expected to gain 247 BPS in its market share by 2031 over 2021.
Chickpea segment is expected to create absolute $ opportunity of US$ 6,440.5 Mn between 2017 and 2026
The largest share is contributed by APEJ region in chickpea market. This is expected to represent 50.5% of the market in 2021, to reach 54.4%, representing a CAGR across forecast period of 12.6%.

“Rising population and per capita food consumption to fuel global demand. Also, increasing application in preparing nutrition and protein blends creating opportunities for market players “said a lead analyst at FMI.

Who is winning?

Some of the leading companies offering pulse flours are Anchor Ingredients Co. Llc., Archer Daniels Midland Company, Batory Foods, Inc., Bean Growers Australia Limited, Best Cooking Pulses Inc., Blue Ribbon Grain & Pulses Pty Ltd, CanMar Grain Products, Diefenbaker Spice & Pulse, Ehl Ingredients Limited, Great Western Grain Company Ltd, Ingredion Incorporated, Parakh Agro Industries Limited, SunOpta, Inc., The Scoular Company, and others.

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Get Valuable Insights into Pulse flours market

Future Market Insights, in its new offering, provides an unbiased analysis of the pulse flours market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.

The study divulges compelling insights on the pulse flours market based on product type (chickpea, lentils, pea, beans, and other product types), application (bakery and confectionery, extruded products, beverages, animal feed, dairy products, and other applications), and distribution channel (food chain services, modern trade, convenience store, departmental store, online store, and other distribution channels) across seven major regions.

Spirulina Powder Market Expected to Expand More than Three-Fold through 2029

According to a new study by FMI, sales of Spirulina Powder is expected to reach ~US$ 358 Mn in 2019. After the approval from the FDA for use of spirulina in food & beverage products, the demand for spirulina increased. Multiple companies invested in research and development to launch unique and innovative products using spirulina. Spirulina powder is used in various applications such as food and beverage, dietary supplements, pharmaceuticals, animal & aquaculture, and cosmetic & personal care industry. In last two years, multiple products are launched in the food and beverage industry in which spirulina powder is used as a primary ingredient. Natural Blue and Green Color produced from spirulina is in high demand and witnessed a strong market growth in last two years.

Demand for spirulina powder is growing rapidly as it is the super-food, which contains highest amount of protein found in any natural grown food. It also contains highest amount of vitamins, minerals and other essential nutrients, which makes it an ideal dietary supplement. Spirulina powder contains vitamin A, B, C, E, & K, and minerals such as magnesium, calcium, sodium, iron, phosphorus, zinc and manganese.
Sales of Spirulina is increased in past three years due to a positive perception towards the super-food, which consists of enormous amount of nutritional contents. Around 4 gram (1 teaspoon) of Spirulina can give sufficient quantity of protein, vitamin and minerals, which is generally obtained from food consumed in a whole day.

Organic and natural formulations have been consistently increasing trend since the past decade, and the trend is expected to continue over the forecast period. As per the USDA, over 75% of the grocery stores carried organic products in the year 2013. The demand for organic spirulina powder is growing as compared to conventional spirulina powder.

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In 2013, the U.S FDA approved the use of natural colorant made from spirulina. Multiple companies across the globe are producing natural colorant from spirulina such as Blue, Red, Green and Brown. In Europe, ESPA banned the use of synthetic colorant in food products, which helped spirulina powder to gain momentum in the natural colorant market.

Rising Use of Spirulina Powder in the Cosmetic & Personal Care Industry

Spirulina powder contains antioxidants and anti-inflammatory properties, which is witnessing a high growth in the cosmetic industry. Spirulina powder contains vitamins such as A, C & E in large quantities that are antioxidants and provide nourishment to the skin, due to which it is used in moisturizing and skin care creams.

Manufacturers have started using micro-algae in skin problems such as anti-aging, tanning, and pigmentation issues. Spirulina powder is used in anti-aging creams, skin whitening creams and pigmentation reducing products. Spirulina powder also has anti-cancer properties, which will boost the demand of its cosmetic products, as people prefer to take treatment which doesn’t require consumption of medicines.

Cost-Effectiveness

Despite the rise and fall of spirulina production globally, prices are maintained at an optimum level with a variance in prices of maximum 15% year on year. Multiple factors play an important role in identification of market prices such as spirulina powder production cost, processes used, labor cost, electricity and water cost, transportation cost and much more. Due to a subtle process by which manufacturers produce low processing cost, the Spirulina products such as spirulina powder are also found to be cost-effective and benchmark with its parent market prices. Various manufacturers are focused toward providing spirulina powder at an optimum price, owing to their high demand among consumers. Different companies have implemented integrated production approach to deliver cost-effective products.

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The global spirulina powder market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

By Nature

Organic
Convention

By Application

Food & Beverage
Dietary Supplements & Pharmaceuticals
Animal & Aquaculture Feed
Cosmetics & Personal Care
Others

By Sales Channel

Direct Sales
Retail Sales
- Modern Trade
- Specialty Stores
- Pharma & Drug Stores
- Online Retail
- Other Retailing Formats

Usage of Spirulina Powder in Fish and Animal Feed Creating Demand

Spirulina powder has found application in animal feed, pet food and fish food since, animals and pets can easily digest spirulina powder and even don’t get any allergy or medical problems after consuming spirulina powder. Spirulina powder, which is rich in protein, vitamin and minerals can increase the health of animals & fish and also help in fighting various medical problems in animals. Spirulina powder is used as food for fish for several years due to the food preference, which also reduces the cost of production of fish at commercial scale. Use of Spirulina powder as a food for animals and fish is increasing and which is creating a demand for the product and helps in the overall development of food chain.

This study by FMI offers insights into the spirulina powder market for the forecast period of 2019-2029. The spirulina powder market is projected to record a CAGR of ~6% during the predefined period.

Frozen Ready Meal Market Expectations & Growth Trends Highlighted Until 2032

The global frozen ready meal market is set to witness growth at a CAGR of 8.2% and top a valuation of USD 89.7 Bn by 2032.

In recent years, ready-to-eat food has emerged as one of the most diverse divisions of the worldwide ready-meal market. A rise in convenience patterns, as well as a simultaneous increase in need for customised meal options, has resulted in strong desire for frozen packed meals. The frozen food and beverage industry is perceived as a yet another shop for consumers on the go, with everything from frozen desserts to appetisers and meals available.

Because of its microbiological and fungal-free qualities, frozen ready meals are in high demand in developed countries. Frozen packaged food manufacturers are now incorporating nutrient advantages alongside taste to appeal to a broader clientele seeking health and flavour.

Advances in technology to conserve frozen and partly prepared food, as well as substantial changes in the retail business, all promise positively for market players in the near future. The frozen ready meal industry would be worth more than USD 89.7 billion by 2032.

Frozen convenience meals sold by food supply chain companies remain a major source of income. Convenience stores are expected to extend their frozen ready meal range in the near future, while online sales will tap into previously undiscovered market opportunities.

In industrialized nations, where demand is higher than in other countries, frozen ready meals are now becoming incredibly common. The spike in the number of individuals working in rising economies such as China and India, and the trend toward longer and more unpredictable working hours, has led in a gradual shift away from the traditional model of daily cooking. Frozen ready meals are likely to grow in popularity in such countries as a result.

Convenience meals are growing in popularity in the packaged food industry due to its easy and portability. Organic convenience foods are also becoming more famous as they are certified natural things that may be used to substitute a full meal and are better than normal ready meals due to component differences.

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Key Takeaways from Market Study

The frozen ready meal market is expected to expand at CAGRs of 5.4% and 6.2% in US and the Middle East & Africa, respectively, through 2032.
The European frozen ready meal market is currently pegged at 25.2% share of total market.
The frozen ready meal industry in Asia – pacific region, except Japan, is predicted to increase at a healthy 4.7 percent.
Customer demand for healthy, nutrient-dense foods is boosting sales of frozen ready meals in various regions throughout the world.
Frozen chicken and frozen snacks contributed for more than 60% of the worldwide frozen ready meal markets in 2022, according to product type segmentation.
Covid-19 pandemic outbreak benefited the frozen ready meal business due to its ease. Because many singles were limited to their homes and apartments, they had to depend on fast and ready-to-eat meals to sustain life. Due to the covid shutdown and social distancing practises, diners as well as other businesses were shuttered, increasing market demand for frozen ready meals.

“Targeting the food and beverage business would result in large earnings for frozen ready meal producers. Because of the increased consumption of healthy diet goods around the world, the health alternatives business could be a prospective market for frozen ready meals.” says a Future Market Insights analyst.

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Competitive Landscape

To improve the quality of products, major makers of frozen ready meals are concentrating heavily on research.

Campbell Soup Co: The company confirmed a complete restructuring in 2018 which will strengthen its presence in the rapidly changing foodservice sector. Campbell’s main business operations, such as its important soups, pre – cooked meal, shelf-stable beverage portfolio, and large snacks portfolio, are now grouped under this new company.

Conagra Brands: In the year 2019, Pinnacle Foods acquired the company. Pinnacle’s takeover of specialised gluten-free confectionary companies such as Udi’s and Glutino may boost Conagra Brands. With this purchase, the company will combine two catalogues with commercial growth to build a USD 12 billion corporation with leading brands in the frozen, snacks, refrigerated food, and grocery sectors.

McCain: In 2018, the business formed a relationship with Forno de Minas, a well-known cheese manufacturer. McCain bought 49 percent stake in Forno de Minas in this deal.

Product Type:

Vegetarian Meals
Chicken Meals
Beef Meals
Other Meals

End-User:

Food Chain Services
Modern Trade
Departmental Stores
Online Stores
Other Distribution Channel

Region:

North America
Latin America
Europe
Japan
APEJ
MEA