Market Research Blog – Page 14637 – New Product Development

Citrus Powder Market Comprehensive Shares, Historical Trends And Forecast By 2029

According to a new study by FMI, sales of citrus powder is expected to reach ~US$ 6 Bn in 2019, primarily influenced by the recent reforms coming into fore in the global food sector. In recent years, increasing focus towards cleaning and sanitization has been compelling manufacturers to identify and leverage white spaces in the application of citrus powder, especially in personal hygiene products. Moreover, the consumer proclivity for using chemical-free products with natural ingredients will continue to provide a fillip to sales of citrus powder in 2019 and beyond.

As demand for ‘natural ingredients’ and ‘clean labels’ continue to gain prominence, citrus powder manufacturers are continuously exploring untapped potential of products. FMI’s study finds that significant growth of F&B and cosmetics industry will continue to work to the advantage of the market players.

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The idea of adding citrus powder to different food and beverages products is helping consumers to discover and identify new and refreshing flavors. Apart, from the taste, many consumers are using citrus powder for its nutritional and health benefits. Moreover, the addition of citrus powder to salads, chicken and soups has been a common practice being followed by East Asian consumers for its flavor enhancing and medicinal properties. It further helps elevate the nutritional property of food.

Citrus powder has been garnering significant traction as a viable ingredient in dietary supplements, as it is enriched with vitamin C, phosphorus, minerals and various other health boosting nutrition. Studies have also shown that citrus powder help support heart health, prevent kidney stones, and in weight management.

Opportunities Abound for Market Players in Developing Countries

Being the largest exporters of citrus fruits, the citrus powder market in countries such as Spain, South Africa, China, the U.S. and Mexico has reached its maturity.

According to FMI study, growth opportunities for the citrus powder market players are picking pace in South Asia and Oceania, owing to profound growth of end-use industries including food & beverages, cosmetics & personal care, and others. A sprung in the number of working population, greater awareness of natural ingredients, rapid inclination towards personal grooming, and increased disposable income are further likely to aid in the expansion of citrus powder market in developing countries in South Asia.

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FMI’s business intelligence also underlines groundbreaking insights into the competitive scenario of citrus powder market along with highlights of the manufacturers’ differential strategies. Key players in the citrus powder market will continue to align with global sustainability drive by including ‘organic’ offerings in their existing portfolios, which is likely to help them enhance customer confidence. For instance, LemonConcentrate S.L. – a world class company that belongs to the fruit concentrate sector, – is facing the growing competition of their peers by opening an organic way of farming along with the conventional one. The company is also introducing recyclable packaging materials and providing versatile packaging on the basis of different quantities of citrus powder. Significant improvements in packaging is further likely to increase the shelf life of citrus powder, which has been a major concern among the manufacturers.

In May 2019, Givaudan SA, the world’s largest company in flavor and fragrance industries has expanded their business by acquiring Golden Frog Company which is a Vietnamese flavor company, to increase its regional and local presence. Following the acquisition, the company introduced a range exciting flavors, and the result is likely to lead to expanded customer base.

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.

Citrus Oil Market Insights, Deep Analysis of Key Vendor in the Industry 2029

According to a new study by FMI, sales of citrus oil is expected to reach ~ US$ 3500 Mn in 2019. Growing prevalence of aromatherapy has led to an upsurge in personal care products for both men and women in recent years. Aromatherapy is the use of aromatic substances for relaxation, rejuvenation, and in the treatment of certain minor physical conditions. Practitioners of this method consider that the aroma of natural, organic, and therapeutic oils can have several beneficial effects on the body. Citrus oils can be used in various ways such as in massage, bathing, shower, inhalation, perfume, and others. A recently published report reveals that the global market of citrus oil is projected to reflect a steady CAGR growth over the predicted period, 2019 – 2028.

The citrus oil market will witness a promising growth in the foreseeable future, as consumer awareness regarding the functional properties of citrus oils continue to gain momentum, according to the FMI analyst. In addition, high adoption of natural ingredients in the food and homecare industries is expected to boost the demand for citrus oils in the years ahead.

Increasing consumer preference for plant-derived and natural products is a significant driver for the growth of the global citrus oil market. In addition, organic citrus oils are likely to offer better profit margins, as they are priced higher when compared to conventional variants.

As per the International Trade Centre (ITC) publications, organic bergamot orange oil (cold-pressed and sourced from Italy) was over 2.6X costlier than conventional bergamot oil (2014–2015).

Organic and natural formulations have been on a 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 organic character of food and beverage products and therapeutic oils depends on the way key ingredients such as citrus oils are cultivated. For instance, citrus fruits are considered inorganic if fertilizers and pesticides have been used during cultivation.

Factors Fueling the Global Citrus Oil Market Growth

Citrus oil production is a labor-intensive process as sizeable amount of raw materials (fruit/fruit peel) are required to produce minute quantities of oil. This is a major concern as the expenses involved with flavouring agents such as citrus oils, affect the end-product prices. Therefore, the production advantages offered in developing regions, in terms of low costs and favorable climate, are an important driver for the growth of the market.

The importance and scale of imports from developing regions can be gauged by the fact that the New Zealand Institute for Crop and Food research has considered the low cost of production in developing regions as a major threat to the growth of the domestic market.

Due to such production advantages and high presence of oil in the glands of citrus fruits, citrus oils are relatively cheaper than other essential oils. Moreover, in the view of their widespread availability and ease of cultivation, lemon and orange oils are particularly cheaper.

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Owing to the long shelf life of citrus oils, small product size (usually available in small 10/15 ml vials) and the fragmented nature of the market, online platforms are a particularly strong distribution channel for citrus oils. These, especially offer significant benefits to small-scale manufacturers, who might face various challenges such as exorbitant marketing costs. Online platforms reduce distribution costs considerable, and are highly effective in garnering consumer attention.

This study by FMI offers insights into the Citrus Oil market for the forecast period 2019 and 2028. The citrus oil market is projected to record a CAGR of ~ 4% between 2019 and 2028.

About Food Market Division at FMI

Flavour Capsule Cigarette Market to reach a valuation of US$ 26.7 Bn at a CAGR of over 11.5% by 2031

Menthol cigarettes are linked to young people starting to smoke earlier and to an increased risk of addiction. According to a recent study conducted by Future Market Insights (FMI), 54% of all teens who smoke in the U.S. consume menthol cigarettes. FMI estimates the market to reach a valuation of US$ 26.7 Bn at a CAGR of over 11.5% through the end of the forecast period in 2031.

A 2016 study followed the link between menthol cigarette use and nicotine dependence in teenagers and discovered that those who smoked menthol cigarettes were more likely to get addicted to nicotine in comparison to those who didn’t.

The results of a cohort analysis using data from the American Legacy Longitudinal Tobacco Use Reduction project showed that starting with menthol cigarettes was linked to progressing to regular smoking, which resulted into frequent purchases from the smoker, boosting market prospects.

While most capsule technologies are used for hybrid (regular-to-menthol) or menthol-to-menthol spheres, exotic goods with regulatory permits, could point to previously unexplored opportunities. Various regulatory bodies and authorities have played a vital role in the growth or limitation of the flavour capsule cigarettes and will remain important for the foreseeable future.

Key Takeaways from the Flavour Capsule Cigarette Market Study

Menthol capsule cigarettes hold a substantial market share of more than 55% in 2021 with CAGR of 9.3%, owing to consumer preference on a global scale.
Single capsule products represent around 70% of the market in 2021, supported by lower costs and ease of production.
Chile is emerging as one of the most attractive markets, accounting for over US$ 814 Mn in 2021.
Japan is proving to a lucrative market, accounting for more than 41% of sales in East Asia in 2021.
Indonesia reflects high potential for growth, with a CAGR of 15.6% through the end of 2031.

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“Manufacturers operating in the flavour capsule cigarette market are aiming to reduce the health impacts of tobacco by offering consumers a wider choice of new products with a greater variety of flavours. Through this they also intend to increase sales and broaden customer access, which is likely to bolster sales in the market in the foreseeable future,” said a lead analyst at FMI

Flavour Capsule Cigarettes Pose Threat to Smoke-Free Goals

Smoke-free aims are jeopardised by flavoured capsule cigarettes. When these capsules are crushed, they impart a flavour (fruit, menthol or any other flavour) to the cigarette smoke inhaled. This form of cigarette allows users to tailor their smoking experience while reducing the harshness of conventional tobacco smoke.

Non-smokers who are susceptible to nicotine addiction find flavour capsules enticing and are likely make purchases. Tobacco firms have lately made emphasized on efforts to make the globe smoke-free. These statements, however, are at odds with their product advancements, which make smoked tobacco products more enticing to non-smokers.

Who is winning?

Some of the key manufactures of flavour capsule cigarettes are Camel Double, Chesterfield, Craven a Click, Dunhill, Esse, Fortune Tribal, Harmony, Hollywood, Imperial Tobacco (Winston), Insignia, ITC (Gold flake), Kent, L&M, Lucky Strike, Marlboro and Pall Mall.

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Companies are launching a variety of new products in order to attract customers and entice especially younger generations as they are more into trying new flavours to create gate experiences.

For instance, Japan Tobacco Inc. declared in 2018, introduction of two novel products from Winston named “Winston Compact Menthol Purple 5 Box” and “Winston Compact Menthol Purple One Box”.

Get Valuable Insights into Flavour Capsule Cigarette Market

Future Market Insights, in its new report, presents an unbiased analysis of the global flavour capsule cigarette market, covering historical demand data and forecast figures for the period between 2021 and 2031. The study reveals persuasive insights into growth witnessed into the market. Based on flavour, the market is segmented into menthol flavoured, clove flavoured, fruits flavoured and others. Product type are segmented into two sections such as single capsule and double capsule. On the basis of price change, the market can be segmented into economy and premium. Based on distribution channel, the market can be segmented into direct sales and indirect sales. Regionally, the market study covers North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa (MEA).

Plant Based Fish Feed Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2032

As per the recent report published by Future Market Insights (FMI), the global plant-based fish feed market revenues roughly equated US$ 6.8 Bn in 2021, which are likely to see a robust CAGR over the course of next decade. The market growth is likely to be driven by factors including, growing consumption of seafood worldwide, concerns over depleting aquatic species, sustainability, and rising prices of fishmeal and fish oil among others.

The report also opines that the innovative and cost-effective plant-based feeds derived from canola oil, soybean, corn, and wheat bran among others, will replace conventional feed such as fish meal and fish oil in the coming years.

The growing global demand for seafood in recent years has directly impacted the demand for plant-based fish feed. Further, as per the Food and Agriculture Association of the United Nations, the aquaculture industry accounts for more than 50% of the global edible seafood supply. Hence, the market players operating in the aquaculture sector need to find alternative feeds to meet the rising demand for seafood worldwide.

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Ever-rising Seafood Consumption Points to New Opportunities

The global seafood consumption has witnessed a remarkable growth in recent years. High seafood consumption in recent years has created lucrative opportunities in the plant-based fish feed market as aquaculture farmers pin their hopes on alternative feeds. In the current scenario, soybean and corn meals dominate the plant-based fish feed market in terms of market share and value and the trend is expected to continue through the forecast period.

Soybean and corn meals have illustrated strong potential in the last couple of years and are gaining tremendous popularity owing to enhanced digestibility, optimum protein content and omega-3 levels. According to the analyst, state-of-the-art soy products such as soybean protein concentrate (SPC) and fermented soy are likely to emerge as excellent fish feed alternatives in the coming years. Other crucial factor shaping the growing adoption of soybean and corn meals is its price. The aforementioned plant-based fish feed is cost-effective and also replicate the desired nutritional values required for fish.

Technological Advances Merging with Innovations

As the demand for plant-based fish feed is expected to surge in the next decade, existing players pin their hopes on innovation and R&D to consolidate a strong position in the market. Several companies worldwide are increasing investment in the adoption of new technologies to find cost-effective plant-based fish feed alternatives to meet the global edible seafood demand.

Currently, although the production of alternative feeds is at a nascent stage, major companies are relying on sourcing ingredients from these substitutes to develop customized aqua feed for different species based on their nutritional requirement. Investments for developing novel plant-based aqua feed are expected to rise as investors and stakeholders are eyeing the lucrative opportunities and high potential within the plant-based fish market especially in North America and Europe.

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Key Segment

By Product Type:

Soybean Meal
Cottonseed Meal
Corn Meal
Distillers Dried Grains with Soluble
Wheat Bran
Rice Bran
Other Product Types (Canola Meal, Sunflower Meal, etc.)

By Nature:

Organic
Conventional

By End-Use Application:

Commercial
Household

By Form:

Pellet
Powder
Granule
Flake

By Sales Channel:

Direct Sales
Indirect Sales
- Modern Trade
- Convenience Stores
- Specialty Stores
- Online Retailers
- Other Sales Channels

By Region:

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

North America and East Asia to Witness Significant Growth

While North America, Europe, and East Asia currently represent the key regional markets for stakeholders in the plant-based fish feed market, the trend will further continue throughout the next decade. The report attributes this trend to growing investments in R&D activities in these regions.

FMI’s report suggests that the changing investment patterns in North America will influence market growth in the region during the forecast period. Further, apart from innovation, companies are eyeing inorganic growth strategies such as mergers and acquisitions to gain a stronger foothold in the market. However, East Asia has emerged as one of the most lucrative markets owing to the growing middle-class population and increasing disposable income in nations such as China, South Korea, Vietnam, and Japan.

Fusion Beverages Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2032

Future Market Insights (FMI), in its new research study, outlines the uncharted corners and looming challenges prevalent in the global fusion beverages market in the next 5 years. According to the research study, the fusion beverages market is estimated to reach a valuation of ~ US$ 5.7 Bn in 2019, and is set to exhibit growth at ~ 6% CAGR during 2022-2032.

Rising trend of dietary assessments and consumer appetite for artful combinations of ‘taste’ and ‘wholesomeness’ are two prominent factors setting the stage for fusion beverages consumption in future.

The new-age consumers crave flavor experimentation in the food & beverage products they savor while being utmost mindful of the nutritional aspects. In this regard, fusion beverages have successfully carved out their spaces in the consumer wish lists and increasing affinity for functional beverages is further warranting their consumption over the years to come. However, overwhelming demands are likely to pressurize fusion beverage manufacturers to create a culture of consistent innovations and keep up with the changing consumer dynamics.

With consumers putting forth their demands for beverages offering ‘multi-sensory’ experiences, fusion beverages are likely to see new opportunities coming their way in 2022 and beyond.

Tea & coffee and alcohol will continue commanding over ½ of the total market revenues, whereas demand for energy sports & drinks is buckling in the fusion drinks landscape, finds the FMI analyst. Off-trade sales currently account for a significant pie of overall market value, wherein non-alcoholic fusion beverages accounted for over 90% of the off-trade sales in 2021.

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Product Innovation: The Elixir of Growth in Fusion Beverages Market

Manufacturers of fusion beverages will continue to draw upon the growing affinity for natural ingredients, which would further solidify their brand positioning by a wide margin. The transition toward beverages infused with natural ingredients and move away from the ones with added antioxidants is heading towards its peak, placing the onus on manufacturers to use high-quality natural ingredients in their offerings.

With online channels emerging as the ‘one-stop’ platforms for consumers to shop from a wide range of products at favorable prices, manufacturers are strengthening their online presence and focusing on competitive pricing to gain maximum ROI. Product innovation remains the elixir of growth in the market space, given that distinctive offerings will continue to underpin the relevance of manufacturers amid the competitive market space.

For instance, in 2019, The Coca-Cola Company announced the launch of a ‘coffee-infused’ cola drink – ‘Coca-Cola plus Coffee’ – in South Africa. This beverage is likely to be ‘one-of-its-kind’ offering the fusion of rich bold coffee aroma and mild sweetness with subtle caramel flavor, thereby adding to the well-regarded product portfolio of the company.

According to the report, packaging will continue to be a crucial aspect for manufacturers to revitalize their brand personality. Companies active in the fusion beverages space will continue placing emphasis on ‘functional packaging’ – a win-win concept for manufacturers and consumers alike – wherein product transparency, clean label, and brand storytelling are the key considerations.

‘Smart packaging’ is anticipated as a big trend making its way into the global beverage packaging scene, and is likely to unfold in multiple fronts over the years to come. This trend is also likely to spread its roots into the fusion beverages market and bring new implications for the manufacturers to draw inferences from.

This study puts spotlight on the untapped opportunities in the fusion beverages market and finds that the market will grow at a value CAGR of ~ 6% during the assessment timeline.

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By Product Type :

Fused coffee and tea
Carbonated Drinks
Fusion alcoholic Beverage
Fruit Juice
Energy and Sports Drinks
Others

By Distribution Channel :

Off-Trade
- Grocers
- Hypermarkets
- Discounters
- Online stores
- Highly specialized retailers
- Alcohol, confectionery and Off-license stores
- Supermarkets
- Petrol stations
On-Trade
- Bars, Pubs and cafeterias
- Restaurants
- Hotels and resorts
- Temporary retail points, mass events
- Clubs, discos

By Regions :

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

Egg White Powder Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2032

The global egg white powder market is likely to be valued at US$ 1.7 Bn in 2022, and will witness strong growth in revenues in the near future, as indicated by a new Future Market Insights (FMI) study. The demand for egg white powder is increasing rapidly in line with growing applicability in multiple verticals, including food processing, pharmaceuticals, cosmetics & personal care, beverage processing, and dietary supplements.

FMI’s report opines that while North America and Europe will remain prominent markets for egg white powder sales, the attractiveness of East Asian market is rising at a brisk pace. The study anticipates the growth of this market to be propelled by the expansion of food processing sector, coupled with the widening applicability of egg white powder in cosmetic and personal care industry, across East Asia, particularly China, South Korea, and Japan.

Convenient storage, affordability, and lasting shelf life of egg white powder continue to solidify its growing popularity over fresh eggs, among end users. While this remains a strong factor pushing demand for egg white powder, the stakeholders stand still staring at the potential impact of the ‘vegan’ trend, thriving all over the globe. The trend of veganism is observing its second wave of growth in developing countries, which further poses a threat to the egg white powder market, in both, developed and developing regional markets.

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‘Protein Supplements’ – Key Category Pushing Sales

The analysis of egg white powder market on the basis of end use reveals that dietary supplements will continue to account for a prominent value share in the global egg white powder market. While the prevalence of chronic ailments is rising at an alarming rate, nutritional supplements have become an integral part of the lifestyle of a sizeable consumer pool. Moreover, the growing criticality of consuming protein-rich foods as a part of routine diet necessitates the adoption of wholesome protein sources, such as egg white powder.

The FMI study offers deep-dive analysis of the egg white powder market, which suggests that sales in B2B category will remain prominent in the long run, whereas that in B2C category will be modest. Revenue contribution from B2C sales of egg white powder is primarily sustained by hypermarkets and supermarkets, as the availability of protein-rich ingredients at retail and convenience stores is improving rapidly.

Egg White Powder Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global egg white powder market. Some of the examples of key players in the global egg white powder market are Merck KGaA, HiMedia Laboratories Pvt. Ltd., Kewpie Corporation, NOW Health Group, Inc., Taiyo Kagaku Co. Ltd, AvangardCo Investments Public Limited, SANOVO TECHNOLOGY GROUP, IGRECA, JW Nutritional, LLC, Rembrandt Foods, and Rose Acre Farms., Caneggs.com, Ovostar, Deps, and others.

The global market for egg white powder is expected to expand at a CAGR of ~10.9% between the forecast period 2022-2032. For exclusive insights on how the growth of ‘vegan’ trend will influence the market for the egg white powder landscape.

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Key Segments

By End Use:

Food Processing
Cosmetics & Personal Care
Pharmaceuticals
Dietary Supplements
Beverage Processing
Retail

By Grade:

Food Grade
Technical Grade

By Sales Channel:

B2B
B2C
- Store-based Retail
  - Modern Trade
  - Convenience Stores
  - Specialty Sports Stores
  - Online Retail
  - Other Sales Channels
- Online Retail

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
MEA

Eggshell Membrane Powder Market Is Set to Experience Revolutionary Growth by 2029

Future Market Insights (FMI), in its latest study, analyzes the global market for eggshell membrane powder for the upcoming decade-old period of assessment. The report opines that the eggshell membrane powder consumption volume in 2018 was ~ 8,657 MT, which is highly likely to witness a healthy increase by 2019 end, at a 6% Y-o-Y rate. FMI’s analysis suggests that the trend of ‘biowaste repurposing’ is gathering considerable pace at a global level, and will contribute to the growing acceptance for eggshell membrane powder across various end-use sectors.

The umpteen benefits associated with powdered eggshell membrane as a biowaste, use of this natural waste appears to be a promising proposition for multiple industrial domains. Therapeutic effects of eggshell membrane powder on bowel diseases, which constitute the youngest research findings on eggshell membrane, are further greasing the wheels of adoption. It is now emerging as a viable ‘add-on’ in supplements that nourish the bowel health.

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According to the report, research studies attesting the nutritional value of eggshell membrane are strongly complementing the growth of eggshell membrane powder market. With the health & wellness trend spreading its roots across the food & beverages industry, eggshell membrane powder is being embraced as a novel ingredient enhancing the nutritive value of products. However, the evident rise of trends, such as veganism and vegetarianism, is likely to arrest the adoption of eggshell membrane derivatives to a certain extent, leading to a see-saw market scenario over the forthcoming years.

Recent studies indicate that ~600 thousand tons of eggshells are ending up in the landfills, in the U.S. alone, whereas the eggshell waste in European countries is also reaching the massive volume of a million tons. While these numbers critically call for a growing focus of governments on sustainability, ‘reusing’ the biowaste is rapidly emerging as the potential solution, of late. As indicated by the report, the trend of reusing has been a key factor uplifting the growth potential of eggshell membrane powder market in the years to come.

FMI’s conclusive analysis says that although the conventional eggshell membrane powder will continue to remain highly preferred among consumers owing to its fair and reasonable price point, a relatively recent trend that involves growing consumer proclivity for ‘organic’ is likely to gain momentum in the long run. Organic has been quite a buzzword in the global consumer marketplace over the recent past, and consequently a massive inflow of organic variants is likely to be spectated in years to come. However, the ‘conventional Vs organic’ war continues to shape the eggshell membrane powder market, particularly in price-sensitive markets.

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Price Benchmarking – An Addition to Manufacturers’ Arsenal for Retaining their Sphere of Influence

The cosmetics and personal care industry is on the verge of disruption, with natural ingredients infiltrating the space, promising superior outcome. Opportunities are imminent for the companies operating in eggshell membrane powder market, as key cosmetic and personal care brands rely on eggshell membrane derivatives to enhance their product value. The F&B industry is estimated to emerge as a gold mine of opportunities for key market stakeholders through 2029, finds the report. With ‘food fortification’ taking over all other trends in the food & beverages space, the penetration of eggshell membrane powder as an effective ingredient is likely to see a major upturn.

As per the report, the leading manufacturers remain highly focused on commercializing high-quality products at reasonable prices. While the market players continue to stress on regular R&D processes for product innovations, they also invest in comprehensive ‘price benchmarking’ to understand patterns of customer cost sensitivity across different regions. Business expansion also remains a strategic priority of the companies operating in this market, wherein market players are targeting specific regions with high growth potential to expand their operational bases.

Fish Protein Concentrate Market Size By Key Players, Competition Tracking, Applications & Forecast 2031

Increasing awareness regarding health and wellness among consumers, their focus towards the adoption of fitness goals, rising demand of fish protein concentrate in cosmetics, personal care segment, pharmaceuticals are key factors enabling growth in the fish protein concentrate market. Future Market Insights (FMI) predicts positive near-term growth for the market in a new study. According to the report, the market will reach US$ 107.7 Mn in 2021.

Increasing frequency of product launches and the demand for greater sustainability and clean label certifications are creating lucrative growth opportunities for the fish protein concentrate market. These proteins are gradually increasing in demand in the food industry as ingredients often used as meat substitute and on account of their fat-binding properties.

Fish is a low-fat high quality source of protein and a great source of vitamins, minerals, and omega 3 fatty acids. Its consumption therefore associated with good heart and brain function, combating inflammation in joints and providing lubrication to joints. Fish protein concentrates have therefore found their way into the food & beverages industry, which currently accounts for the leading share in the market among end users.

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RFID Tags Increasingly Preferred for Fish Protein Concentrate Packaging

Adoption of RFID technology is increasing since manufactures are seeking an efficient supply chain algorithm, where they could keep a track of their products thus save overall time of transportation and ensure product availability. Fish protein concentrate manufactures also are facing similar issues, which have been tipping scales in favour of RFID labels in the market.

RFID hides away data up to 2 KB identified with the item on which it is labelled. The costs and subtleties of the items with RFID labels are consequently recorded when the client moves toward the counter, without filtering each any item, which saves the hour of the client. In addition, it permits cost count in one sweep, which saves the hour of the client just as the item retailer.

These factors would impact fish protein concentrate market and would give a chance to have a development in products and ventures. Adoption of latest technologies is expected to bode well for the overall market.

Key Takeaways from Fish Protein Concentrates Market Study

Fish protein concentrate market is forecast to register 6.3% Y-o-Y growth in 2021
The U.S. will account for a significant share of sales in North America. FMI has projected the U.S. to nearly 93% of the North America market, in terms of value, in 2021
Within the U.K. the market for fish protein concentrate will exhibit slightly over 4% Y-o-Y growth in 2021
France and Germany will emerge as other key markets in Europe, exhibiting high demand for fish protein concentrate
Within East Asia, Japan and South Korea will emerge as highly lucrative markets for fish protein concentrate

“Increasing number of fish protein manufacturers are focusing on research and development to push product launches. Besides this, there is considerably focus on expanding footprint across emerging countries to gain competitive advantage” said a lead analyst at FMI

Who is winning?

Some of the key players operating in fish protein Market are Janatha Fish Meal & Oil Products, Bevenovo Co. Ltd, Bio-Oregon Protein, Omega Protein Corporation, Colpex International Inc., Shenzhen Taier Biotechnology Co. Ltd., New Alliance Dye Chem Pvt. Ltd., Peterlabs Holdings, Mukka Seafood Industries Limited, Scanbio Marine Group, Apelsa Guadalajara, Siam Industries International, and other.

Key players of Fish protein Concentrate are focusing on partnership in order to gain larger market share and to capture new geographical areas to get access to new markets.

Another recent development in 2018, by Omega Proteins a leading manufacturer was that the company launched Vermilion, a fishing vessel.
In 2020, Paine and partners, LLC, announced that it has signed a deal to purchase, Scanbio Marine group.

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Get Valuable Insights into Fish Protein Concentrate Market

Future Market Insights, in its new report, presents an unbiased analysis of the global plant-based Collagen market, covering historical demand data and forecast figures for the period Based on

By Form

Powder
Liquid

By Type

Type A
Type B
Type C

By End Use

Food & Beverages
Sport Nutrition & Dietary Supplement
Cosmetic & Personal Care
Pharmaceuticals
Others

Region

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

Taurine Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2021-2031

Future Market Insights (FMI), in a new study has forecast the demand for taurine to surge considerably in the coming years. Driven by diverse end-use applications, the global taurine market is set to reach US$ 364.4 Mn by 2021. Growth forecasts continue to remain strong, thanks to rising focus on health and wellness. The market will witness impressive growth opportunities through the forecast period, especially as application continues to surge in beverage sector.

Taurine is increasingly used in various health drinks and energy drinks. FMI has forecast, the beverage segment to account for lion’s share of the global market through the forecast period. Taurine an essential amino acid is structurally as well as functionally for the body. Taurine plays a crucial role in human beings, pet, as well as fish. This is owing to the reason that taurine has such wide and essential applications.

In the European Union and China, taurine is considered essential in fish feed and is also authorized to be used for all species of fishes. There are rising speculations of replacing meat and marine-based products from the fish feed with alternate protein sources. Plant-based protein for instance soybean meal with taurine makes an excellent meal for fish, comprising of all essential nutrients required.

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Key Takeaways from the Taurine Market Study

Taurine market will continue showcasing solid growth through forecast period. It is projected to record 6.9% Y-o-Y growth in 2021
The U.S. will continue exhibiting high demand and account for dominant 82.6% of the North America market
Growth in the U.K. to remain positive as the country is forecast to exhibit 4% Y-o-Y growth in 2021
France and Germany will emerge as lucrative pocket for taurine sales in Europe
While growth rate in Japan and South Korea will remain positive, China is expected to account for leading market share through forecast period

“Surging demand for cosmetic products and health care products has a great impact on the taurine market. Manufacturers of taurine are intensively researching for enhancing production process of taurine to serve the large market which has further potential to grow.”

Alternate Source of Taurine in Development

The increasing vegan population has bolstered the need for an alternate source of taurine, either plant-based or synthetic process. A large number of taurine manufacturers depend on the latter method for taurine production as chemical processes are easy to control and can alter production quantity as per requirement. The synthetic production process of taurine also requires less number of raw material, whereas natural sources such as algae need to be handled well for adequate production of taurine.

Taurine manufacturers are developing these innovative processes and patenting under their name to maintain their market position with high quality of taurine.

Taurine in Energy Drinks

Taurine is a crucial ingredients in energy drinks and is prominently used by key manufacturers such as Redbull, Monster Drink. Energy drinks claims to have several health benefits, owing to which millennials and gen-z are anticipated to gravitate towards these products and taurine will experience a cascading effect of increase in demand in the forecast period.

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Scope of the Report

Attribute	Details
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	USD Million for value and Metric Tons for Volume
Key Regions Covered	North America, Latin America, Europe, East Asia, South Asia, Oceania Middle East & Africa
Key Countries Covered	US, Canada, Brazil, Mexico, Chile, Peru, Argentina, Rest of Latin America, Germany, France, Italy, U.K., Spain, BENELUX, Nordic, Poland, Russia, Rest of Europe, China, Japan, South Korea, India, Malaysia, Singapore, Indonesia, Thailand, Rest of South Asia, Australia, New Zealand, GCC Countries, South Africa, Turkey, North Africa, Central Africa, Rest of MEA
Key Segments Covered	End Use Application
Key Companies Profiled	MTC Industries Inc. Stauber USA. Foodchem International Corporation The Honjo Chemical Corporation Qianjiang Yongan Pharmaceutical Co., Ltd. New Zealand Pharmaceuticals Ltd. Ajinomoto Co., Inc. Kyowa Hakko Bio Co., Ltd. Jiangsu Yuanyang Chemical Co., Ltd. Fuchi Pharmaceutical Co., Ltd Penta Manufacturing Company Mitsui Chemicals, Inc. AuNutra Industries Inc. Hebi City Hexin Chem Ind. Co., Ltd.
Report Coverage	Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Several leading manufacturers of taurine are focusing on strengthening production capacity and distribution channels to expand their footprint in the global market. Leading players also are investing in research and development to produce organic, non-GMO ingredients for Taurine and to develop a novel production process that will also be suitable for consumption by vegan and flexitarian.

Manufacturers are also seen capitalizing on the opportunity in the food processing industry. Taurine is known to act as an emulsifier and flavoring agent in many processed food. Manufacturers are producing baby food formula with taurine as an ingredients that are targeted for neonatal who are born under-weight or premature.

In August 2019, Foodchem International Corporation commenced the expansion project in Jiangxi Province, China owing to the rising demand of taurine.
Qianjiang Yongan Pharmaceutical Co., Ltd., is further planning to expand its production capacity of taurine. For supporting this aim, the company has started strengthening its distribution network by opening warehouses and storage capacity.

Get Valuable Insights into Taurine fiber Market

Future Market Insights, in its new offering, provides an unbiased analysis of the Taurine market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the Taurine market based on End Use Application (Food, Beverage, Animal Feed, Pet Food, Pet Supplements, Dietary Supplements, Cosmetics & Personal Care Products, Agriculture, and Pharmaceuticals), across seven major regions.

Sodium Malate Market is expected to observe a CAGR of 4% over 2022-2032 | FMI

Sodium malate has been gaining ground as a potentially effective cosmetic additive and functional ingredient, within the cosmetic and personal care industry.

Newly released data from Sodium Malate Market Analysis by Future Market Insights show that the global market size of Sodium malate is expected to reach USD 715 Million by 2032. The market is growing at a CAGR of 4% during the forecasted year 2022-2032.

“The market for sodium malate is booming, in parallel with the ever-changing consumer food habits. The increasing tendency to consume more and more processed food and decreasing trend of cooking a meal at home is increasing the demand for food additives and driving the global sodium malate market growth.” says FMI report.

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According to FAOSTAT data, the food and beverages industry generated approximately US$ 12.5 trillion of revenue, which summed up to 17% of world GDP, in 2013. Sodium malate is a sodium salt of malic acid and is used extensively in the food and beverages industry. Sodium malate is used predominantly as a food additive in food products such as bakery and confectionery, desserts, flavoured and soft drinks, meat products, etc. Sodium malate in the food and beverages industry functions as a flavouring agent, acidity regulator, and buffering agent.

Sales Continue to Benefit from Staggering Growth in Processed Food Products Sales

The food and beverages industry is flourishing, owing to the increased consumption of confectioneries and similar processed food products. With the advent of industrialization and increasing population, significantly in Asian countries, the bakery and confectionery industry is rapidly expanding in the region. This is increasing the demand for food additives and thus, driving the global market of sodium malate. According to the report, the food and beverage industry is expected to remain strong over the forecast period of 2019-2027.

According to the report, the increasing demand for cosmetics and personal care products is creating positive outlook in the global sodium malate market. Cosmetics and personal care industry is expected to account for ~30% of the market share by value. Sodium malate is used as a cosmetic additive, functioning as a skin conditioning agent and humectant. Sodium malate is also being used in the formulation of anti-aging, as well as lightening and whitening agents. Moreover, sodium malate is currently being researched for use as a pH adjuster in low concentration. The cosmetic industry has expanded and evolved rapidly over the last decade and is one of the major industries with high potential, which also brings promising potential for sodium malate. The cosmetic industry is well-established in developed markets such as North America, Europe, and Oceania, and is growing in other markets such as Asia and Middle East & Africa, presenting increased opportunity for sodium malate. Especially in developing nations such as India, Brazil, China, etc. the percentage of middle-class population is increasing at a rapid rate and increase in the income of middle-class population is observed. This increased demand for cosmetics and personal care products is expected to create promising market potential in the global sodium malate market.

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Flourishing F&B Sectors to Bolster Sodium Malate Demand for Processed Foods

The research analysis by FMI reveals that the sodium malate market has promising future and increased opportunity in the developing countries. According to UN data of 2018, more than half of the world population is residing in urban areas and is projected to add 2.5 Bn by 2050, which will be approximately 68% of the total world population. Out of this additional 2.5 Bn urban population, 90% will be contributed by Asia and Africa, owing to the high growth rate of the population.

Major industry players of food and beverages, cosmetics, and pharmaceutical industries are entering these low urbanized regions, eyeing the availability of workforce and ease of business. With an increase in urbanization and industrialization, accessibility of consumer goods such as bakery, confectionery, soft drinks, cosmetics, and personal care products is improving in developing nations, ultimately increasing the consumption of these products. Sodium malate used as a food additive, has increasing opportunities in developing nations.

According to the report, use of sodium malate in the animal feed industry is likely to drive the global market insignificantly. Sodium malate is available in feed and/or fodder grade in the industry. Sodium malate is used as a feed ingredient for technological purposes and is being researched for use in new products. Sodium malate is also used as an acidity regulator and flavouring agent for feed products. The increasing population is also resulting in increasing meat consumption, and in order to increase meat production, animal feed is supplemented with various feed ingredients.

Market Segments Covered in Sodium Malate Industry Analysis

Type

Monosodium Malate
Disodium Malate

Application

Food and Beverages
Personal Care
Cosmetics
Animal Feed

Region

North America
Latin America
Europe
Asia Pacific Excluding Japan
Middle East & Africa (MEA)
Oceania
Japan