Market Research Blog – Page 15273 – New Product Development

Food Waste Management Market Size Estimates and Forecasts by Region, Growth Rate and Trend Analysis by Types and Application 2019 to 2027

Food loss, coupled with ecological risks, is leading to a growing need for sustainability and effective food waste management facilities. The amount of food thrown away is increasing at an astounding rate each year. World Bank reports “What a Waste 2.0: A Global Snapshot of Solid Waste Management to 2050” in 2018 which anticipates more than 3 billion tons of waste to be generated annually by 2050. This signals a sharp increase from the current volume, i.e. 2 billion tons.

According to the United States Environmental Protection Agency (EPA), more than 38 million tons of food waste was generated in 2014, with a mere five percent diverted from incinerators and landfills. EPA estimates that food accounts for 21.6% percent of discarded municipal solid waste generated in the country. Food losses and waste bring to light the inefficiency of food value chains and food systems, which cause a fall in overall food availability.

The increasing food loss and wastage has led to a growing focus on decreasing the total volume of waste produced while increasing efforts to bring about sustainability in food waste management worldwide. The global food waste management market is anticipated to be valued at US$ 54.8 Bn in 2019. Future Market Insights (FMI) projects that the food waste management market will see a significant CAGR of over 6% during 2019 – 2027.

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Key Takeaways – Food Waste Management Market Study

The food waste prevention segment is expected to rank relatively high on the attractiveness index in the global food waste management market. In 2019, the food prevention segment is anticipated to dominate the market.
Food loss and wastage occurs at each node of the supply chain, from primary production to final end consumption.
According to FMI survey, it is observed that around 85% to 90% of the overall food wasted in the developing economies is in the supply chain, including producers, processors, distributors, transportation & logistics, and retailer levels. In developing economies, food loss usually occurs in the earlier stages of the supply chain as a result of limited technology, inadequate infrastructural facilities, unfavorable climatic conditions, and insufficient processing and lack of marketing.
In contrast, developed economies witness food losses and wastage to a substantial extent at the downstream stages of the supply chain.
In 2019, food processing wastes is estimated to dominate the food waste management market by waste type.
Rising preference for animal food production from food waste is expected gain traction in the food waste management market in the foreseeable future. Animal Feed, followed by fertilizers, are anticipated to remain the largest end-use segment globally during the forecast period.
Increase in promotional activities and investments in renewable energy generation are leading to the growing market prospects for food waste management in North America. High demand for renewable energy and development in infrastructure encourages new players operating in recycling and processing food waste market.

Technological Developments to Enhance Prospects for Food Waste Management Organizations

Increasing participation of small and mid-size enterprises in the global food waste management market provides opportunities for innovation in services offered by waste management companies. Through the development of innovative technologies such as shelf-life extension technology, companies operating in the food waste management market are able to expand their global footprint by leveraging the regulatory implications.

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• Comprehensive analysis on evolving purchase pattern across different geographies
• Detailed insights of market segments and sub-segments for historical as well as forecast period
• A competitive analysis of prominent players and emerging players in the keyword market
• Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years

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About FMI:

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Encapsulated Flavours Market size, Insights, Prospects, Growth Trends, Key Trends, Opportunities and Forecast until 2027

Future Market Insights (FMI), in its recent report, estimates the global encapsulated flavours market to register 1.7% CAGR, in terms of volume, during the forecast period 2019 to 2027. Global sales of encapsulated flavours is expected to surpass 200,000 MT by 2027-end.

APEJ to Continue Exhibiting High Growth

In terms of volume, Asia Pacific excluding Japan (APEJ) is expected to remain the most lucrative market for encapsulated flavours, with sales estimated to expand at a high single-digit CAGR through 2027. North America will continue to be the second largest market for encapsulated flavours, in terms of volume.

Based on encapsulation process, spray drying is estimated to remain dominant in the global encapsulated flavours market. In terms of volume, expansion of spray drying segment is anticipated to exhibit the highest CAGR through 2027. Adoption of glass encapsulation process for encapsulated flavours will remain sluggish in the market over the forecast period.

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Chocolate Flavours to Remain the Most Preferred Encapsulated Flavour

Chocolate flavour will continue to be preferred among encapsulated flavours in the global market, followed by general fruit flavours, spice flavours, and citric flavours. In terms of volume, sales of spice flavours are estimated to register the highest CAGR through 2027, followed by exotic fruit flavours, citric flavours, and berry flavours. In contrast, sales of general fruit flavours are anticipated to register the lowest CAGR through 2027.

In terms of volume, encapsulated flavours will continue to witness largest adoption for application in beverages & instant drinks, with sales expected to register the fastest expansion through 2027. Bakery & confectionary is expected to remain the second largest application of encapsulated flavours in the global market.

Convenience Food Segment in North America to Register High Demand for Encapsulated Flavours

Demand for encapsulated flavours in convenience food will continue to rise in North America. Consumer preferences in this region is shifting towards readymade meals, savoury soups, and snacks, resulting into demand for exotic, ethnic, and spicy flavourings. Consumer are now becoming aware of the potential adverse effects of artificially produced food additives, inclining more towards natural products. Flavour encapsulation is considered to be more natural than chemically synthesized equivalents, as it retains the nutritional value of vegetable & fruit ingredients during their conversion into flavours. These factors will continue to sustain demand for encapsulated flavours in North America.

High cost of encapsulated flavours production is the major concern for manufacturers, and this factor may act as a retraining factor for growth of the market in North America. Leading manufacturers in the region are focusing on the development of advanced processing and formulation technologies for production of encapsulated flavours.

Leading Market Players Focus on Expanding Operations in APEJ

With increasing spending on research & development activities, global manufacturers are now facing competition from regional players in APEJ. APEJ has become the preferred destination for leading market players to set up R&D facilities. Consumer in this region have started opting for fizzy, flavoured and plant-based drinks over other beverages. Consumption of milk-based drinks is expected to gain an uptick in APEJ, resulting into demand for flavoured dairy drinks. These factors will augment growth of the encapsulated flavours market in APEJ.

For encapsulation of flavours, high tech machines are required, coupled with skilled labours for operation. APEJ lacks skilled professionals, who are capable of understanding the technology behind flavour encapsulation. This might be a major hindering factor for growth of the encapsulated flavours market in APEJ.

Key market players identified in FMI’s report include Symrise AG, Cargill Incorporated, Nexira SAS, AVEKA Group, Naturex S.A., Archer Daniels Midland Company, International Flavours & Fragrances Inc., Sensient Technologies Corporation, Balchem Corporation, FONA International, Inc., Ingredion Incorporated, FrieslandCampina Kievit GmbH, BUCHI Labortechnik AG, Etosha Pan (India) Pvt. Ltd., Groupe Legris Industries (Central), Tate & Lyle PLC, LycoRed Limited, and Synthite Industries Ltd.

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Sweetener Market Analysis by Growth, segmentation, performance, Competitive Strategies and Forecast to 2027

The US$ 121 Bn global sweeteners market is projected to grow moderately at 3.2% CAGR through 2027. Consumer awareness about the potential health impact of sweeteners is driving the shift toward sugar-free products.

Sucrose remains the preferred product type, accounting for nearly 66% revenue share of the market currently. In terms of revenues, the global sucrose market is estimated to be worth US$ 26.83 Bn. However, the after-taste of sucrose alternative products is impeding demand globally.

Natural sweeteners, the second-largest product type, currently holds a market share of nearly 22% globally. This segment is anticipated to gain market share during the for forecast period.

The key trends in the global sweeteners include increasing investments by companies and geographical expansion by key players. Further, due to the limited number of buyers and sellers in the market, most companies are focusing on cost optimization.

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Food and beverages sector is the largest application segment in the global sweetener market. This segment currently accounts for nearly 70% revenue share. The food and beverage sector will continue to be the largest application segment throughout the forecast period. In terms of revenues, this will represent a market valuation of over US$ 115 Bn in 2027. During the forecast period 2017-2027, demand for food and beverage segment will grow at a CAGR of 3.2%.

In the food and beverage sector, dairy products and beverages are the two largest sub-segments. These two sub-segments collectively account for a revenue share of 40%.

North America Sweeteners Market

As is the case globally, sucrose remains the largest product type in North America as well. Sucrose currently accounts for nearly 55% revenue share of the North America sweeteners market currently. Use of sucrose in the food and beverage sector will continue to boost its demand in the North America sweetener market. In North America, the food and beverage segment accounts for over 71% revenue share of the region; this segment will continue to remain prominent during the forecast period.

APEJ Sweeteners Market

Increasing awareness among the middle class in China and India, is a key factor for the rising demand for sweeteners in Asia Pacific excluding Japan (APEJ). The APEJ sweeteners market is projected to grow at a steady rate, opening new avenues of growth for manufacturers. Considering the sheer volume and scale of demand in APEJ, many manufacturers are working on consolidating their position in this market.

Key companies profiled in the report include Carl Kühne KG (GmbH & Co.), Castelo Alimentos S/A, Aspall Cyder Ltd, White house foods, Spectrum Organic Products, LLC, Higher Nature Limited., Vitane Pharmaceuticals, Inc., the kraft heinz company, Bragg Live Food Products, Inc., Swanson Health Products, Inc., Solana Gold Organics, Amfac, Inc.(American Garden), Mautner Markhof Feinkost GmbH, GNC holdings inc, Eden Foods, Inc., Pompeian, Inc., NutraMarks, Inc., Eden Nuganics, Viva Naturals, Health Connection Wholefoods.

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Organic Milk Powder Market Size (Value & Volume), Future Trends, Opportunities and Sales Channels, Forecast 2027

According to Future Market Insights (FMI), the global organic milk powder estimated valuation at the end of 2017 is about US$ 1,816 Mn. Expanding at a CAGR of 5.4% from 2017 to 2027, the market is expected to reach about US$3,060 Mn from 2017 to 2027 by the end of the forecast period.

The various types of organic milk powder comprise skimmed milk, whole milk, and buttermilk and whey. Among these, the whole milk segment is predicted to hold the dominant share of 53.6% by 2017 and is projected to rise at an impressive CAGR of 5.8% during the forecast period. The dominance of the segment is attributed mainly to the extensive demand for these for a variety of applications, including chocolates.

The various regions for the market for organic milk powder are North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East and Africa (MEA). Of these, North America is expected to the most attractive market, fueled by the prominent presence of certified organic dairy farmers.

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Vast Nutritional Benefits to Fortify Demand

The demand for organic milk powder among health-conscious populations in various parts of the world is attributed primarily to the recognition of a number of benefits they have, such as high-shelf life, assured quality, and nutritional benefits, notably the presence of mega 3 fatty acids. The rising preference of organic milk powder over ordinary milk among people of various age is driven by these health benefits. The growing demand for non-GMO and gluten free ingredients in packaged milk products is a key factor bolstering the demand for organic milk powders.

The growing demand for wholesome foods among families in various countries to act as a nutritional supplement to health drinks is a crucial factor expected to boost the market. The growing number of certified organic dairy farmers in developing and developed countries is a crucial trend expected to accentuate the market in the coming years. The marked consolidation of organic dairy industry, notably in North America, is a prominent trend expected to bode well for the overall organic milk powder market. This has led to a rise in imports volume, especially in the U.S.

Rising Number of Certified Organic Dairy Farmers Unlock Exciting Opportunities

The rising popularity of organic products in various developing and developed regions is expected to stoke the demand for organic milk powder market. However, the notable disparity in the supply and demand of organic milk powder in major regions, is a key factor likely to hinder the growth of the organic milk powder market to an extent. The insufficient supply of organic milk powder can be attributed to the paucity of modern dairy firms, stringent regulatory norms in developed nations to set up organic diary firms, marked transition period for conventional firms to turn into organic firms.

Nevertheless, the rising number of certified organic dairy farmers and recent advancements made in organic farming are key factors anticipated to accentuate the market over the forecast period. The introduction of products with advanced formulations also bodes well for the global organic milk powder market.

Some of the leading players operating in the market include Nestlé SA, Prolactal GmbH, B. Engelhardt & Co AB, Holle babyfood GmbH, Bellamy’s Organic, Ingredia SA, Organic Valley, Aurora Foods Dairy Corp., HiPP GmbH & Co. Vertrieb KG, and Fonterra Co-operative Group, notes Future Market Insights (FMI). A number of players are focused on making constant product launches in order to consolidate their shares in various regions.

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Organic Beef Meat Market Trends, Strong Application Scope, Key Players, Growth Overview and Forecast by 2027

The global Organic Beef Meat Market size is expected to reach US$ 16421.3 Mn by the end of 2027. According to a study by Future Market Insights (FMI), titled “Organic Beef Meat Market: Global Industry Analysis 2014-2018 and Opportunity Assessment, 2019-2027,” the market will show a steady rise at 6.4% CAGR between 2019 and 2027. According to the report, the rising demand for healthier options in Organic Beef Meat 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.

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It includes in-depth insights into the Organic Beef Meat market. Some of these are:

The estimated value of the market was at US$ 9904.0 Mn in 2019. Through the course of the report’s forecast period, the market will show a steady pace of growth.
Regionally, Asia Pacific excluding Japan emerged as a key market for Organic Beef Meat. Middle East & Africa (MEA) will remain steady as key markets for Organic Beef Meat.
The global organic beef meat market indicates North America and Western Europe as dominant regions.
Key players are likely to focus on product innovations to stay relevant in developed markets.

Presence of a Thriving Organic Beef Meat Industry Supports Growth in Developing Regions

Rising production of and the demand for food ingredients has considerably aided the market’s expansion across emerging nations. For instance, the food market in China is forecast to surge exponentially, creating growth opportunities for the organic beef meat market. While the market is still considered at a nascent stage, experts haven’t failed to notice high-volume offering of the category.

Organic meat is obtained from animals or birds raised in an organic system, this organic system is based on the behavioral and physiological needs of animals. Organic beef meat does not have any additives or growth hormones; they offer optimum nutrients thereby gaining higher adoption than conventional food products. Rising consumer preference towards organic food products and the easy availability of organic beef through retail chains is expected to accelerate the global organic beef meat market growth over the forecast timeline.

Impelled by prevailing scenario, hanging lifestyle of people along with rising disposable income in the region has created a progressive impact on the organic beef meat market and is expected to propel the growth of organic beef meat market over the forecast years.

Who is winning?

Some of the leading players operating in the global Organic Beef Meat market are Neat Meat company, organic Prairie, Aurelian organic meat supplier group, Swillington Organic Farm Arcadian Organic Meat Co., River ford organic farmers and Eversfield.

With competition from alternatives soaring high, organic beef meat manufacturers are seeking out diverse strategies not only to stay relevant but gain a competitive edge. As a result of this, leading players are focusing on product innovation and positioning strategies to build a strong brand image. In addition to this, they are strengthening their research and development capabilities to innovate products to attract consumers.

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Chia Seed Market Covid-19 Impact Analysis, Size, Share, Key Trends, Demand and Forecast till 2031

Future Market Insights (FMI) has projected sales of chia seeds to accelerate at a 6.80% CAGR, reaching US$ 194.1 Mn in 2021. Increasing applications of chia seeds in nutrition and dietary supplements, along with growing demand for organic ingredients in food and beverages is expected to drive the market in the forthcoming years.

Sales of chia seeds were dampened to an extent due to the outbreak of COVID-19 pandemic. Chia seeds are exported to various countries, and the lockdown restrictions imposed to curb the virus affected trade and import/export activities across the globe, resulting in drop in sales of chia seeds.

However, the pandemic has resulted in higher awareness regarding the incorporation of healthier ingredients in packaged food products. This is expected to propel sales of chia seeds year-over-year by 5.50% between 2020 and 2021. As per FMI, the total consumption of chia seeds is expected to top 80,579.7 Million Tons by 2031.

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Chia seeds are gaining popularity as ‘superfoods’ for their functional health benefits in improving heart health, supporting bone health, and managing blood sugar levels. Growing preference for healthy packaged food and drink products will continue propelling sales over the assessment period.

The U.S. is anticipated to emerge as a lucrative pocket in the North America chia seeds market, owing to the presence of robust food & beverages and personal care products industries. In addition to this, consumers are actively adopting vegan and gluten-free diets, which is compelling manufacturers to launch non-GMO and innovative chia seeds products. These developments are expected to bode well for the U.S. chia seeds market through 2031.

Key Takeaways:

Based on source, the organic chia seeds segment is expected to account for a dominant share in the global chia seeds market.
In terms of color, sales of black chia seeds are projected to remain high owing to their easy availability in supermarkets and convenience stores.
Demand for whole chia seeds is expected to increase at a steady pace due to increasing preference for natural and organically sourced ingredients for home baking.
Applications in the food and beverage segment will continue gaining traction in response to growing demand for superfoods in packaged food and beverages.
The U.S. is projected to dominate the North America market, with sales growing at a 6.70% CAGR through 2031.
The U.K. will emerge as an attractive market in Europe. As per FMI, demand for chia seeds across Europe is projected to grow at a 6.10% CAGR over the forecast period.
China is expected to command lion’s share in East Asia market, emerging as one of the leading exporters over the assessment period.

Competition Landscape

Sesajal SA De CV, Bioglan (PHARM-A-CARE Laboratories Pty. Ltd.), Nutiva Inc., Navitas Naturals, Spectrum Naturals (Hain Celestial Group), Benexia (Functional Products Trading S A.), Chia Bia Slovakia, s.r.o., The Chia Co., Vega Produce LLC., CHOSEN FOODS INC, Mamma Chia, Now Health Group, Inc., Naturkost Übelhör GmbH & Co. KG, and AgroBolivia (Negocios Europa Ltd.) are among the leading players operating in the global chia seeds market.

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Fermented Dairy Ingredients Market 2017: Global Industry Analysis, Size, Share, Growth, Trends And Forecast To 2027

Demand for nutritional products has soared in recent years, especially in developing countries where malnourishment remains a major concern. Fermented dairy products being a major source of nutrition are gaining traction in both developed and emerging countries. Food and Agriculture Organization (FAO), revealed that approximately 150 million households are currently engaged in milk production across the globe. Over the last three decades, the global milk production has increased by over 50%, from 500 million tonnes in 1983 to 769 million tonnes in 2013.

This growing consumption of milk and milk products is creating significant growth opportunities for dairy product manufacturers who are now incorporating additional value to their products using fermented diary ingredients. Future Market Insights’ latest report projects that global fermented dairy ingredients market revenue will increase at a CAGR of 8.7% during the forecast period (2017–2027).

As per the report, the global fermented dairy market is slated to reach a valuation of US$ 4,856.5 Mn by the end of 2017. Increasing per capita expenditure on dairy products is expected to favour the future prospects of the global fermented dairy ingredients market. The report also assesses that fermented dairy ingredients are likely to face stern competition from cheaper alternatives available in the market.

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In addition, growing consumer preference for alternative products such as probiotics and other supplements is expected to dampen the surging spirit of the global fermented dairy ingredients market to a certain extent. Fluctuating prices of fermented dairy products and unsafe handling process that compromises product safety and quality is also subduing the growth of the market in regions such Europe and Asia Pacific.

By product type, cheese currently accounts for the largest value share of the market followed by flavoured milk. This is primarily owing to the growing interest of dairy ingredient manufacturers to bring new innovative cheese products with unique flavours and improved textures in order to increase the product value. Meanwhile, the yoghurt segment is projected to witness the fastest CAGR, as the global consumption of yoghurt is on the rise.

Among regions, the market in Western Europe accounted for the largest revenue share in 2016, reaching a valuation of US$ 1,366 Mn. Towards the end of forecast period, the region’s market is expected to stand at US$ 3,575.7 Mn, expanding at a CAGR of 9.2%. The abolition of milk quota system and increasing demand for frozen and freeze-dried starter dairy cultures is driving the market for fermented dairy ingredients in Western Europe. Asia Pacific (APEC) and North America are the two other lucrative markets for fermented dairy ingredients. Between 2017 and 2027, the market in APEJ is set to witness a robust CAGR of 10.5%, which is credited to the rising popularity of flavoured milk among consumers across China and Australia.

Some of the leading companies profiled in the report include Koninklijke DSM N.V., E. I. du Pont de Nemours and Company, Chr. Hansen Holding A/S, Cargill Incorporated, Bioprox (A subsidiary of Proxis Développement), Novozymes, Kerry Inc, Archer Daniels Midland Company, Ingredion Incorporated, Arla Foods Ingredients Group P/S, Lake International Technologies, DairyChem Inc., CSK Food Enrichment, CP Ingredients Limited, Epi Ingredeints, Dairy Connection Inc., Socius Ingredients LLC, The Tatua Cooperative Dairy Company Ltd, Koninklijke DSM NV, Corbion. Manufacturers are providing ingredients according to specific requirements of the client. Also, many of the players are actively focusing on launching variety of ingredients in the market to increase their consumer base.

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Demineralized Whey Powder Ingredient Market Insights with Upcoming Trends Segmentation, Opportunities and Forecast to 2027

Irrespective of its use or application, milk remains to be the most essential source of adequate nutrition, enriching consumers’ lives with fats, protein, calcium and minerals. Contrary to its ever-growing demand, milk is not uniformly available in all parts of the world. The “dairy-deficit” parts of the world are compensating to this shortfall by shifting towards alternatives, wherein demineralized whey powder among the top non-dairy products imported in such regions. According to Future Market Insights’ recent report, the global market for demineralized whey powder ingredients is growing steadily, owing to high imports of demineralized whey powder ingredients in regions with short supply of milk & dairy products.

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The report projects that the global market for demineralized whey powder ingredients, which is pegged to reach US$ 491.1 Mn value by 2017-end, will soar at a steady CAGR of 5.1% and bring in more than US$ 800 Mn in revenues towards the end of 2027. During this decadal forecast period, the global demand for demineralized whey powder ingredients will grow on the account of

increasing demand for healthy alternatives for infant foods with synthetic ingredients
rising adoption of additives in food industry
prevalence of complications related to lactation, and
growing need for specialty ingredients in high-performance sports drinks

Rising use of high-added value dairy products in food & beverage end-users has also propelled the consumption of demineralized whey powder ingredients. Surging demand of high-protein bakery products is also instrumenting the market’s growth, while recent developments are anticipating a promising application of demineralized whey powder ingredients as drug carriers in production of pharmaceuticals. The report also anticipates that growth of global demineralized whey powder ingredient market will be restrained due to sheer lack of awareness. Dairy product manufacturers aren’t aware about reusability of by-products in cheese production. These products can be used in production of demineralized whey powder ingredients, which can extend the manufacturing purview of dairy companies.

The global demineralized whey powder ingredient market is also expected to witness hindrances in its growth due to a weak distribution network. Leading as well as emerging players in the global market are facing loses due to poor abilities of distributors. A comprehensive profiling of competitive landscape in the global demineralized whey powder ingredients market is included in this report, which includes companies namely Valio Oy, Eurosérum, Lactalis Ingredients, Dairy Crest Group Plc., Milkfood Limited, Ornua Co-op Limited, Prolactal GmBh, Kaskat Sp Z.o.o., Alimenta Srl, FrieslandCampina International B.v, Hoogwegt, Charotar Casein Company, Dairygold Co-Operative Society Limited, Senel & Co B.V., Kerry Inc, Roosevelt Dairy Trade, Inc., Mahaan Proteins Limited, Almira, Melkweg Holland B.V., Naarden Polska Sp. z o.o.

Key findings in the report project that demand for demineralized whey powder products with 40% demineralized whey will gain traction towards the end of 2027. In terms of revenue, products with 90% demineralized whey will record fastest growth at 5.6% CAGR. Infant food will be largest application of demineralized whey powder ingredients, accounting for nearly 40% of market revenues in 2017. With close to one-third share, North America will dominate global demineralized whey powder ingredient market in terms of value throughout the forecast period. Demand for demineralized whey powder ingredients is expected to witness considerable surge in Middle East & Africa and the Asia-Pacific excluding Japan (APEJ) region.

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Coconut Milk Market Growth Trends, Key Players, Competitive Strategies and Forecasts to 2027

Nutrition-rich foods are becoming top choice of consumers in developing markets, while developed economies are already viewing them as top-grossing products. High nutritional content of coconut milk is garnering the interests of consumers in countries such as the US and Canada. Future Market Insights’ recent report on the global coconut milk market reveals that North America will be a dominant consumer & producer of coconut milk in the years to come. The global market for coconut milk, which is expected to witness sales of over 430,000 MT by the end of 2017, will garner around 25% of these sales from North America.

According to the report, revenues from global coconut milk sales reached US$ 780.4 Mn in 2016, and are estimated to soar towards US$ 830 Mn by the end of 2017. Key findings in the report project that the global market for coconut milk will soar at a healthy 7.3% CAGR to bring in US$ 1,687.7 Mn in revenues during the assessment period, 2017-2027. In terms of volume, the market will exhibit a 6.4% CAGR and record an estimated sales of more than 800,000 MT towards the end of 2027.

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Increasing demand for plant-based, organic beverages among consumers, in developed as well as developing countries, is being observed as the key attributor for growth of global coconut milk market. Besides the healthy content, consumers are also growing inclined towards new tastes, which is why savouring Asian cuisines enriched in coconut milk are gaining popularity across the globe. However, high price of procuring raw coconut meat (in some countries), and growing proliferation of organic substitutes for coconut milk, are likely to restrain the market’s growth to a considerable extent.

Demand for Coconut Milk Powder Losing Traction

One of the vital findings compiled in the report indicate that in 2017, coconut milk in the form of powder is predicted to gain traction, reflecting a market share of 38%. However, towards the end of the forecast period, presence of coconut milk powder products on global market revenues is likely to incur a significant dip. Demand for coconut milk in form of fluids will grow steadily, and dominate with nearly 65% revenue share by 2027-end. Likewise, the demand for conventional coconut milk is expected to gain traction in 2017, but may witness a decline in its global revenue share by the end of forecast period. Organic coconut milk products, on the other hand, will reflect an uptick in global sales, registering a value CAGR of 8.2% through 2027.

Growing consumption of coconut milk is mainly attributed by effective end-use. Household, food services and food & beverage manufacturing are observed as three profitable end-uses of coconut milk. Collectively, revenues from these three end-use applications will collectively account for more than 80% of global coconut milk revenues by the end of 2027. The report also profiles leading producers and manufacturers of coconut milk in the world as key participants in the global coconut milk market, which include Mc Cormick & co., The Whitewave foods, Goya Foods, Charoen Pokphand Foods, Theppadungporn Agricultural Industry,Ducoco Ailmentos SA, Thai Agri Foods, Celebes Coconut Corporation, Pacific Foods of Oregon, GraceKennedy Group, Thai Coconut Public Company Limited, M&S Food Industries, The Sambu Group, Fresh Fruit Ingredients Inc., Chef’s Choice Food Manufacturer Company Limited.

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Plant Based Ice-Creams Market Perspective, Comprehensive Analysis, Growth and Forecast 2021-2031

Future Market Insights’ recent report on the global market for plant-based ice-creams reveals that the rising prevalence of lactose intolerance in creating a vast consumer base for such non-dairy products. Increasing population of lactose intolerant consumers is observed to be driving force for growing consumption of plant-based ice-creams.

Moreover, higher protein content in plant-based ice-creams is making them healthier options among ice-creams. Producers of plant-based ice-creams are focusing towards improving the taste of these ice-creams as consumers are demanding a wide variety of flavours.

Following highlights from the report will elucidate the growth of global plant-based ice-creams market during the forecast period, 2021-2031. According to the report, towards the end of 2027, the global consumption of plant-based ice-creams will reach 500 thousand tonnes, reflecting an estimated value of US$ 2.45 Bn.

Growth of the global plant-based ice-creams market will be marginally lower than its revenue growth as the market is expected to reflect of a volume CAGR of 9.1% and a value CAGR of 9.3% over the forecast period.

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Demand for cups or tubs of plant-based ice-creams, on the other hand, will rise as global sales recorded in this product segment will contribute to nearly 30% of global market value by the end of 2031.

In 2021 and beyond, the global demand for plant-based ice-creams in single-flavour form will be slightly lower than that of blends as the latter form of plant-based ice-cream will dominate with a global revenue share of 51% and above.

The report predicts that fruits, dry fruits (nuts) and beans will be prominent flavours of plant-based ice-creams. By 2031, nearly 140 thousand tonnes of plant-based ice-creams are expected to be consumed across the globe.

Majority of plant-based ice-creams produced in the world will be sourced from soy milk. Through 2031, plant-based ice-creams sourced from soy milk are predicted to register above 10% CAGR in terms of revenue.

Global revenues accounted by direct sales of plant-based ice-creams will be gaining traction throughout the forecast period, registering a value CAGR of 10%. On the other hand, indirect sales channels for plant-based ice-creams are dominating the market with nearly 60% value share, albeit, their global revenue contribution is expected to incur a considerable decline by 2031-end.

By the end of 2031, North America and Western Europe are expected to dominate the global plant-based ice-creams market as these regions will individually attribute to an estimated 34% of global revenues.

The Asia-Pacific excluding Japan (APEJ) region is also accounting for a considerable share in global revenues, however, consumption of plant-based ice-creams is expected to lose traction in the APEJ market towards the latter half of the forecast period.

The report also profiles prominent players in the global plant-based ice-cream market, which include Ben & Jerry’s Homemade Inc., Bliss Unlimited, LLC, LUV Ice Cream LLC, SO DELICIOUS DAIRY FREE (Danone), Oatly AB, Jollyum Co., The Booja-Booja Co., LITTLE BABYS ICE CREAM LLC, Klein’s Ice Cream Inc., and Frankie & Jo’s. Other key players in the market are observed to be Happy cow ltd., Tofutti, Breyers, Dream, Nadamoo, ARCTIC ZERO, Inc., Snowflake Luxury Gelato, Wink Frozen Desserts, Nobó ltd., Imuraya Group Co. Ltd.

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