Market Research Blog

According to a newly published Future Market Insights report, the global rare neurological disease treatment market will exhibit a splendid expansion throughout the forecast period (2017-2026). Revenues from the market are envisaged to exceed US$ 12,000 Mn by 2026-end.

The global fructose consumer market is expected to increase at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2032, from USD 8,267.2 million in 2022 to USD 15,556.5 million in 2032.

The expansion of the fructose consumer market is predicted to be aided by rising demand for sugar-free and low-calorie food products. Fructose is a primary flavor enhancer found in almost all foods and beverages. The fructose industry will benefit from an increase in the consumption of protein supplements, energy drinks, and skin creams.

Key Takeaways

• The demand for low-sugar, low-calorie products is driving the fructose industry forward. Low-calorie and low-sugar foods are gaining popularity because they help people lose weight while still providing an excellent source of vitamins and minerals that are beneficial to their overall health.
• To meet the required level of carbohydrate in the product, many sports nutrition products such as protein shakes, health drinks, and energy drinks contain fructose. Fructose is a popular ingredient since it is easy to digest, low in calories, and a healthier option for diabetics.
• Fructose has a huge potential in the pharmaceutical sector; one of the most important components in cough syrup is fructose; fructose is also present in practically all therapeutic syrups and a few oral medicines. Pharmaceutical businesses commonly employ high fructose corn syrup as a flavoring component in their products.
• Because fructose is a prominent ingredient in baby food and is easy for babies to digest, the fructose market has a lot of room for expansion.

“ The growing fructose market is attributed by the rising trend of fitness and health awareness coupled with rising diabetes cases and rising demand for low sugar and low-calorie food is expected to assist the growth. Rise in usage in various applications like medicinal syrups, baby food, and skincare products is going to increase the reach of fructose market,” says a lead analyst at Future Market Insights.

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Competitive landscape

Fructose is expected to witness a booming growth due to the rising trend of fitness and awareness towards health. With the increasing cases of diabetes, fructose is going to be a natural and healthy option of sweetener in day t day life of consumers. With huge demand as a flavoring agent in medical syrups, oral medication, and baby foods, the Fructose market is now looking to expand to the skin care sector with new technological advancements.

To deliver a better quality sports drink to consumers, companies like HIGH5 have put fructose in their energy drink 2:1 fructose. In comparison to glucose and sucrose, protein shakes and protein powder contain fructose for their beneficial characteristics. The trend to stay in shape, as well as aesthetic and health consciousness, has boosted the sports nutrition business, which is benefiting fructose consumers.

Fructose is a novel component that works as a humectant moisturizer and natural exfoliator in skin creams. It can be used to gently exfoliate the skin and draw moisture to the skin’s surface, giving it a moisturized and healthy appearance. Fructose is a desirable ingredient for skin lotions and moisturizers because of its ability to absorb and retain moisture. With technological advancement and demand for natural ingredients, the use of fructose in skincare applications is expected to rise to assist the growth of this segment.

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

By Source:

• Sugarcane
• Sugar beet
• Corn
• Others (Fruits and Vegetables)

By Product Type:

• High Fructose Corn Syrup
  • High Fructose Corn Syrup 42
  • High Fructose Corn Syrup 55
  • High Fructose Corn Syrup 65
  • High Fructose Corn Syrup 90
• Fructose Syrups
• Fructose Solids

By Application:

• Sports applications (Energy drink, Protein shake)
• Dairy-based Products
  • Ice Cream
  • Milkshake
  • Frozen Desserts
  • Yoghurt
• Beverages
  • Non-Alcoholic drinks
  • Alcoholic drinks
• Baked Goods
  • Biscuits & Cookies
  • Cake, muffins and pastries
  • Bread
  • Others
• Cosmetics & Personal Care
• Medicinal syrups and baby foods
• Others (Confectionery, Candies, Canned Food)

By Regions:

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

High nutritional value and production efficiency poise the global insect protein market to show astounding growth at 28% CAGR between 2019 and 2029. The market is primarily driven by factors such as cost-efficiency, eco-friendly manufacturing processes, and innovation in food and beverages made from insect protein extracts. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends.

It includes in-depth insights into the insect protein market:

• Estimated value of the market is pegged at US$ 322 Mn by 2029. Through the course of the report’s forecast period, the market exhibits a dexterous pace of growth.
• Regionally, Europe emerged as a key market for Insect Proteins. This is attributed to increasing environmental awareness among nutrition-savvy consumers.
• Along with North America, Europe continues to lead demand generation as key markets for Insect Protein.  Middle East & Africa (MEA) registers double digit growth that offers lucrative opportunities for future revenues.
• Beetles exhibit promising growth at the highest rate of more than 20% over the forecast period. Beetles contain high amounts of protein, mineral, low fat, and chitin which are driving the growth of this segment.
• Key players are likely to focus on research and development of new products and strategic supply chain partnerships to stay relevant in developed markets.

“Versatile nature of insect proteins play an important role in generating demand from animal nutrition segment. The mass-adoption is driven by surge in demand for eco-friendly alternatives for animal feed in aquatic and poultry farms. Pets play an important part as owners prefer nutritional food for their beloved pets,” said a lead analyst at FMI.

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Who is Winning?

Some of the leading players operating in the insect protein market are EntomoFarms, Aspire Food Group, Chapul Cricket Protein, Swarm Nutrition, GmbH, AgriProtien Holdings Ltd., InnovaFeed SAS, Protix, SAS Ynsect, EnviroFlight LLC, and Hexafly.

As a result of increasing competition, insect protein manufacturers are focusing on expanding their product portfolio and improving production process. Their expansion strategies are further aided by agreements between them and local players across emerging market. These companies are particularly focusing on catering to changing consumer preference across various applications.

In addition to this, strategic partnerships remain popular among market players. Companies intend to expand their regional footprint through strategic collaborations.

• UK based insect protein product manufacturers, Eat Grub partnered with SOK- Finland’s largest supermarket group. SOK will distribute insect protein based Eat Grub product across 400 of its stores globally.
• Insect-based French snack start-up, Jimini’s forged a strategic partnership with Carrefour to sell its products across 300 Carrefour stores worldwide.

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Insect Type:

• Beetles
• Caterpillars
• Bees, Wasps and Ants
• Grasshoppers, Locusts and Crickets
• Others

Form:

• Whole Insect
• Powder

Application:

• Food & Beverages
  • Animal Nutrition
  • Aquafeed
  • Pet Food
  • Poultry Feed
• Pharmaceuticals & Cosmetics

Region:

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

Against the backdrop of expanding food and pharmaceutical industries, the demand for citrus pectin is rapidly increasing. The globally rising prevalence of diabetes, obesity and cardiac issues has increased consumers’ focus on healthy, natural and fruit-based products, which in turn, is fuelling the demand in the citrus pectin market. The market is anticipated to rise at a CAGR of ~4.6% between 2019 and 2029, Future Market Insights foresees stable growth for the market.

Key Takeaways from the Citrus Pectin Market Study

• Advent of newer technologies and increased attention to clean label product development will enable growth in citrus pectin market. In addition, leading manufacturers are now focusing on strengthening their distribution and supply base in order to ensure that products are easily available to their target customers. This is expected to bode well for the market in the coming years.
• Among product type segments, the High Methoxyl Pectin is currently leading the market. The segment is witnessing high demand in food and pharmaceutical industry since high methoxyl pectin acts as an emulsifier and has texturizing and stabilizing properties.
• The key players are operating in this citrus pectin market are focusing to expand their presence globally through acquisition and collaboration with domestic and regional players.
• Key players are also focusing on expanding their global footprint by launching new products related to citrus pectin. In addition, Tier -1 players are investing in research and development activities and continuously monitoring their product offering in order to offer an excellent quality of product.

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“Citrus Pectin market is gaining strength from increasing applications in diverse industries such as food and pharmaceutical industries. Increasing usage of hydrocolloids in food and beverages industry is fuelling the demand for citrus pectin. Moreover, developing clean label citrus pectin products is a major focus of market players. This is expected to create growth opportunities for the market in the near future” says an FMI analyst.

Owing to their natural pectin content, citrus pectin enables formation of gels in high-brix, high-acid applications such as preparations for spreads, bakery and yogurt. Using citrus pectin as an alternative to pure pectin is cost-effective and offers a cleaner label. Different grind sizes of citrus pectin are available in the market which helps the formulator in selecting a pulpy or fine texture based on the target application requirements. In addition, citrus pectin enable syneresis control in cultured dairy products.

Along with the provision of increased yields, citrus pectin enables manufacturers to make the most of fat and water in the gel system. Hydration and dispersion are key to citrus pectin’s functionality. For most of the applications, citrus pectin is dispersed with dry ingredients, followed by adding liquids later. Manufacturers are observing such functionalities as opportunities for extending their product lines.

During process of meat extension, the imperative need of retaining added water while maintaining its edibility and texture has fuelled the demand for citrus pectin. The structural perviousness of which aids in texturizing and binding water in meat processing systems. Moreover, citrus pectin is also capable for improving the quality of mechanically deboned meat (MDM). The manufactures operating in citrus pectin market are also focusing to invest in diversification of portfolio of citrus pectin, in order to meet multiple end uses like pet food.

Who is Winning

Some of the market players profiled in the report are Fiberstar, Ceamsa, Herbafood, Florida Food Products, Cargill Inc., Quadra Chemicals, Naturex, Compañía Española de Algas Marinas S.A. (CEAMSA), Herbstreith & Fox, Yantai Andre Pectin Co. Ltd., Lucid Colloids Ltd., DuPont, Silvateam S.p.A., and CP Kelco.Several leading market players are acquiring smaller businesses to expand their footprint and product portfolio. Besides this, acquisition often allows them to gain competitive advantage.

• In 2018, Fiberstar launched new product Citri-Fi 150 to cater to pet food and strengthen its product portfolio.
• In 2018, Cargill Inc. invested US$ 150 million for construction of an HM pectin production in South America.
• In 2019, CP Kelco has increased its regional penetration through collaboration with Azelis. Also, the company doing capacity expansion in Wulian China to support its growth in Asia Pacifica region.

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Product Type

• High Methoxyl Pectin
• Low Methoxyl Pectin

Source

• Oranges
• Tangerines/ Mandarins
• Grapefruit
• Lemon and Lime

Application

• Jams & Jellies
• Beverages
• Bakery Fillings & Toppings
• Dairy Products & Frozen Desserts
• Confectionery
• Meat & Poultry
• Dietary Supplements
• Functional Food
• Pharmaceutical
• Personal care & Cosmetics
• Others

Region

• North America
• Latin America
• Europe
• APEJ
• Japan
• MEA

The global bio vanillin market size was valued at US$ 148.4 Mn in 2022. According to a study by Future Market Insights (FMI), the market will show a steady rise at 7.4% CAGR between 2022 and 2032. According to the report, the rising demand for food products made with nutritive ingredients will stoke growth in the market. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.

It includes in-depth insights into the bio vanillin market. Some of these are:

• Regionally, Asia Pacific exhibits high demand, emerging as a key market for bio vanillin.
• Europe and North America markets will remain strong, exhibiting impressive growth.
• Food and beverages industry will exhibit high demand for bio vanillin
• Key players are likely to focus on product innovations and strategic alliances to stay relevant in developed markets.

Rising Demand from Food and Beverage, Fragrance and Pharmaceutical Industries Supports Growth

The demand for bio vanillin will accelerate in the coming years. To a large extent, favourable growth opportunities witnessed in the market is driven by the long-standing position of vanilla as one of the most opted flavours in the food and beverages sector. It is used in a wide assortment of confectioneries such as pastries, ice-creams, custards, waffles and others. While the demand for flavouring agent is unlikely to phase out, consumers are shifting away from synthetically produced flavouring agents at a swift pace. This leaves manufacturers with little choice but to include bio-based flavours. As a result of the prevalent trends, bio vanillin market today holds a strong position in the global food and beverages sector. In addition to this, the market will gain from the burgeoning demand for fragrances with sweeter undernote.

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Who is Winning?

Some of the leading players operating in the bio vanillin market are ENNOLYS, Omega Ingredients Ltd, Givaudan SA, Advanced Biotech, Firmenich SA, Comax Flavors, Apple Flavor & Fragrance Group Co., Evolva Holding SA, Lesaffre, Alfrebro, LLC, Solvay SA, Archer Daniels Midland Company, Aurochemicals, Camlin Fine Sciences Ltd. Borregaard, and Camlin Fine Sciences Ltd.

Amidst growing competition, manufacturers in the bio vanillin market are focusing on product launches and strategic alliances to gain competitive edge.

• Recently Solvay, a leading provider of ethyl-vanillin and vanillin ingredients, unveiled its novel bio-sourced ingredients called Rhovanil® US NAT at IFT 2021. Solvay’s bio-sourced ingredient will be available for US customers.

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Future Market Insights, in its new report, presents an unbiased analysis of the global plant-based beverages market, covering historical demand data and forecast figures for the period between 2022 and 2032. The study divulges compelling insights into growth witnessed in the market. In terms of (give segment-based and region split)

By Application

• Food & Beverages
  1. Ice Cream
  2. Bakery and Confectionery
  3. Chocolate
  4. Other foods
• Pharmaceuticals
• Fragrances
• Cosmetics
• Others

By Region

• North America
• Latin America
• Europe
• APEJ
• Japan
• Middle East & Africa

According to the recent FMI report, the sales for meat alternatives is expected to witness a value of US$ 6,378.9 Million in 2031, rising at a CAGR of around 12.7% through the end of 2031.

Meat substitutes have been on the market for quite some time. However, it was only after the spread of veganism and flexitarianism that these products began to acquire traction. Previously, there were few meat substitutes available on the market. However, as the vegan movement has grown, new players have entered the market for meat replacements, releasing novel goods that taste exactly like meat.

Furthermore, meat alternatives have their department in retail establishments, which raises customer interest and so creates and improves sales opportunities for market participants. The global meat alternatives market is expected to account for around US$ 5,660.1 Mn in 2021.

Key Takeaways from the Meat Alternatives Market Study

• Soy, wheat, faba bean, pea, lentil, rice, and other plant-based proteins are gaining significant market share. These segments are expected to increase rapidly during the next few years. The demand for these plant-based ingredients is increasing as they are increasingly used in innovative vegan meat alternatives.
• Cultured meat is still in its early stages of development and is projected to remain so for at least a few more years. Technological developments have paved the way for cultured meat to become a viable meat substitute in the future, but not right now.
• Insect protein contains nearly the same amount of protein as beef protein and has a greater iron concentration. As a result, it is regarded as a very good source of meat alternatives. In North America, the insect protein was only introduced after the FAO released a report in 2013. The number of companies producing these items has risen dramatically.
• Meat substitutes can be found at most grocery stores and supermarkets. Meat substitutes are available at quick-service restaurants. In some supermarket stores, meat alternatives are beginning to coexist with real meat in the aisles. While meat alternatives distribution isn’t yet up to par, significant businesses are working hard to extend their networks. Carrefour, a European grocery chain, for example, entered the bug market with a line of buffalo worm pasta and granola. Eat Grub, a London-based food firm, is selling bags of roasted crickets at Sainsbury’s and Ocado.

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While the concept of meat alternatives has only recently gained popularity, it has been discussed for quite some time. Many products that were not promoted as meat replacements have been available on the market for a long time.  For instance, textured soy protein has been on the market for a long time. The texture, taste and protein content have all been replicated meat, although not completely but partially. However, as the vegan and flexitarian populations have grown, the demand for meat alternatives has expanded significantly.

“Although the traditional meat sector is not slowing down, demand for meat alternatives is steadily increasing. Product development has contributed to the expansion of the meat alternatives industry. Consumers are becoming more interested in the companies’ innovative offers. In the meat alternatives sector, product introductions are expanding by double digits year after year,” says an FMI analyst.

Who is Winning?

Some of the key players operating in the meat alternatives market are According to market research analysis Ingredion Inc., Archer Daniels Midland Company, Cargill Inc., CHS Inc., Wilmar International Ltd., AGT Food & Ingredients, Inc., Beyond Meat Inc., Cargill Inc., CHS Inc., E. I. DU PONT DE NEMOURS AND COMPANY, Glanbia plc, Hügli Holding AG, Impossible Foods Inc., Ingredion Inc., MGP Ingredients, The Kraft Heinz Company, AGRANA, among others.

As the number of consumers opting for meat alternatives is growing, several major meat product manufacturers are entering the market. To meet shifting customer demand, market participants in the meat alternatives market are focusing on innovation, product launches, and increasing their distribution networks.

• In June 2019, Beyond Meat, Inc. launched a new product for the meat alternatives market, Beyond Beef which started selling in grocery stores across the U.S. Beyond Beef is plant-based ground beef that is made from a combination of proteins such as peas, rice and mung bean and various other spices and is ready to cook.
• Impossible Foods, Inc. launched Impossible Burger 2.0 at the  International Consumer Electronics Show in Las Vegas out textured wheat protein for soy protein concentrate which has switched
• In 2019, TUNO, a seafood alternative by Atlantic Natural Foods LLC, was launched in the supermarkets of the UK. Morrison became the first retailer in the UK to stock TUNO.

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Product Type:

• Seitan or Wheat gluten
• Tofu
• Quorn
• Risofu
• Tempeh
• Algae/ Mycoprotein
• Insects
• Textured Vegetable Protein
• Fermented proteins
• Fish Protein
• Cultured or ‘clean’ meat
• Others (Yaso, Nato and Miso)

Nature:

• Organic
• Conventional

Source

• Plant-based Protein
  • Soy-Based
  • Wheat-Based
  • Canola- Based
  • Faba Bean- Based
  • Potato- Based
  • Pea-Based
  • Rice- Based Lentil- Based
  • Flax- Based Chia- Based
  • Corn- Based
• Insect Protein
• Mycoprotein

Storage:

• Refrigerated
• Frozen
• Shelf-Stable

Distribution Channel:

• B2B
• Retail
  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Independent Small Groceries
  • Wholesalers
  • Online Retail
  • Other Retail Formats
• HoReCa (Foodservice Sector)

According to the recent FMI report, the sales for pea starch is expected to surpass a value of US$ 115 Million in 2031, rising at a CAGR of around 7.2% through the end of 2031.

Due to applications such as thickening and texturizing, binding, gelling and other applications pea starch is widely used in a number of industries such as the food and beverage industry, pet food, cosmetics and pharmaceutical industry. Hence owing to the applications in a wide variety of industries pea starch market is expected to show significant growth.

For the past few years, a huge consumer base around the globe are suffering from food allergies. Thus, the demand for allergen-free and healthy food has shown significant growth which has positively affected the sales of pea starch. Moreover, pea starch is also used as an additional ingredient in a variety of gluten-free food and beverage preparations.

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Key Takeaways from the Pea Starch Market Study

• Pea Starch is widely consumed in food processing functions of thickening and binding, gelling and texturizing among others. While thickening and binding applications are dominating the application segment holding nearly 35% market share. However, gelling applications is expected to grow with a significant CAGR of 8.5% over the forecasted period.
• Pea starch is widely consumed in food processing end-use which is accounting for around 25% of the total market value. However, increased potential in the bakery products industry has led to an exceptional CAGR of around 9.8%.
• As the focus on food nutrition grows, non-GMO and clean label attributes are gaining traction. As a result, organic pea starch, which is rising at a rate of close to 8%, are posing a significant threat to conventional pea starch, which owns more than 85% of the market share.
• Due to a robust and active food processing industry, North America and Europe are the major markets for pea starch accounting for more than 54% of the global market. However, lucrative opportunities are now emerging in the APEJ and Latin American markets, which are developing at a CAGR of 9.7% and 8.0%, respectively.

“Manufacturers are seeking to produce pea starch-based products in order to meet rising customer demand for nutritious and sustainable foods. They are also providing convenience and on-the-go foods with a healthy twist to satisfy the demand of millennial customers, contributing to the worldwide pea starch market’s rise,” says the FMI analyst.

Increased use for human consumption and application as a stabilizing agent in food processing is expected to drive growth in food-grade pea starch throughout the forecast period. Industrial grade pea starch, on the other hand, is predicted to expand at a faster rate of over 8%, with textile, adhesive, and cosmetic applications in packaging. These trends will be aided by the use of pea starch in the manufacturing of bioplastics.

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Who is winning?

Key players operating in the global pea starch market are focusing on reaching a large consumer base by implementing various strategies such as marketing and promotional activity, strengthening distribution channels and adopting sustainable production.

Some of the leading companies offering pea starch are Axiom Foods Inc., Dakota Dry Bean, Parrheim Foods, Cargill Inc., Vestkorn, Roquette, Sanstar Bio-Polymers, Emsland Group, American Key Products and others.

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By Nature :

• Organic
• Conventional

By Application :

• Thickening and Binding
• Gelling
• Texturizing
• Others

By Grade :

• Feed Grade
• Food Grade
• Industrial Grade

By End-Use :

• Soups and Sauces
• Snacks and Savory
• Bakery Products
• Food Processing Industry
• Cosmetics
• Pharmaceuticals
• Pet Food Industry

By Region :

• North America
• Latin America
• Europe
• Japan
• APEJ
• MEA

Newly released data from nucleotides market analysis shows that global demand of overall nucleotides market enjoyed year-on-year growth of 5.8% in 2021 to total US$ 559.9 Mn and it is expected to grow with a CAGR of 6.1% over the forecasted period.

The market will considerably gain from the increasing scope of application in food and beverages industry and pharmaceuticals sector. The rising awareness among consumers about the adverse health impacts of savoury ingredients is tipping scales in favour of nucleotide-based flavour enhancers. In the coming years, therefore, the market will report strong growth, driven by the increasing applications across diverse sectors.

It includes in-depth insights into the nucleotide market. Some of these are:

• The estimated value of the market was at US$ 501.1 Mn in 2021. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
• Regionally, North America has emerged as a key market for nucleotide.
• In addition to this, Europe is expected to remain steady as key markets for nucleotide.
• Among key technologies used in the market, TaqMan allelic discrimination is identified as the most sought-after technology.
• Key players are likely to focus on product innovations to stay relevant in developed markets.

“The increasing scope of application of nucleotide, especially in nutraceutical products will aid the market’s expansion. As a result of high demand for nutritive food products, developed regions will emerge as key market places in the nucleotide market,” said a lead analyst at FMI.

Rising Use of Nucleotide to Offer Better Nutrition in Food will Boost Growth

The use of nucleotide in various food products to offer better nutrition has considerably increased in the last few years. Nucleotide often helps in conditions such as stress or poor diet by optimizing immune system functions. The rising awareness about the benefits of the product will result in higher adoption across the world. According to studies, the persistently rising demand for food fortification creates growth opportunities for the market.

The steadily surging prevalence of nutrient deficiency and malnutrition around the world are two leading causes fuelling the demand for nucleotide. To cater to the rising demand, manufacturers are therefore coming up with nucleotide premixes that ensure better health benefits. These strategies adopted by the market players are bolstering growth opportunities for the market.

Who is Winning?

Some of the leading players operating in the nucleotide market are CJ CheilJedang Corporation, Star Lake Bioscience Co., Inc, ThermoFisher Scientific Inc., F. Hoffmann-La Roche Ltd, Promega Corporation, Agilent Technologies Inc., NuEra Nutrition, Meihua Group, Biorigin, DSM Nutritional Products Ltd., Affymetrix Inc., Lallemand Inc., Nanjing BioTogether Co., Ltd., and Ohly GmbH.mention the leading companies).

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As a result of increasing competition, nucleotide manufacturers are focusing on innovation and product development. Several new players are focusing on product launches in food and dietary supplements segments.

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By Technology:

• TaqMan allelic discrimination
• SNP by pyrosequencing
• Gene chips & microarrays
• Others

By Application:

• Food & beverage additive
• Animal feed additive
• Pharmaceuticals
• Diagnostics research
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

According to Future Market Insights (FMI), high demand for convenience food will push sales in the processed beef market by 7.6% CAGR between 2021 and 2031. Despite being at a nascent stage, competition is soaring in the market. As a result, companies are increasingly focusing on product innovation and ascertaining health claims in their food items to gain competitive edge.

global processed beef market recorded year-on-year (YoY) growth of 8.9% and is accounted for US$ 112.11 Bn in 2021 to reach the value of US$ 232.37 Bn in 2031.

In the global food and beverage industry, innovation and new product creation are based on strong natural, health, and sustainability credentials. Products manufactured with healthier components and labelled with assurances of little processing or demonstrable health advantages from natural ingredients appeal to consumers, particularly in developed economies with higher income and an ageing population. In reaction to this trend, of start-ups and established companies alike within the processed beef market are focusing on innovations.

Furthermore, the health halo surrounding plant-based components and goods, as well as consumer demand for natural and plant-based products might have a negative influence on the processed beef sales. While people are becoming more informed and savvy about their food choices, they are increasingly opting for chemical-free meals such as organic processed beef. As a result, customer preference for natural and organic processed beef is on the rise.

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Key Takeaways from the Processed Beef Market Study:

• North America processed beef market leads the global market, accounting for 31.9% of overall processed beef sales in 2021.
• Chilled processed beef will remain in high demand. It accounted for a share of 79.2% in the global market in 2021.
• Based on nature, demand for organic processed beef will grow at a CAGR of 9.2% during the forecast period (2021-2031).
• In terms of buyer type, household and residential segment accounted for 57.5% of the market share in 2021.
• Among sales channel, sales via supermarket/hypermarket is anticipated to grow at a CAGR of 6.3% during the forecast period.

“The top competitors in the processed beef market are introducing novel technologies to facilitate the production of processed beef with enhanced shelf life, texture, and flavor. Besides this, some are expanding their footprint in emerging nations to gain competitive edge,” said a lead FMI analyst.

Convenience Offered by Processed Beef is the Key Factor Driving Sales

The increasing income of consumers has fueled demand for processed beef products. Furthermore, consumers choose convenient foods that do not require additional time for cooking or preparation due to the hectic nature of city living. The increasing popularity of ready-to-eat meat is also a major driver of the global processed beef market.

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Who is winning?

Some of the leading companies offering processed beef are JBS SA, Hormel food, Harim Co Ltd, Tyson Foods Inc., Danish Crown A/S, Cargill Meat Solution Corp., WH Group, BRF SA, Smithfield Foods, Inc., SYSCO Corp and others.

In order to gain competitive edge, manufacturers are focusing on making processed beef healthier. Besides this, they are focusing on acquiring international certification to woo consumers from around the world.

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By Form

• Chilled
• Frozen
• Shelf Stable

By Nature

• Organic
• Conventional

By Buyer Type

• Food Processor & Manufacturers
• HoReCa Sector
• Household and Residential Buyers

Sales Channel

• Traditional Grocery Stores
• Supermarket/Hypermarket
• Internet Retailing
• Convenience Store
• Discounters
• Other Sales Channel

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Oceania
• Middle East & Africa
• Japan