Probiotic Supplements Market is projected to register a CAGR of 15% during the forecast period 2019-2027

Technological advancements in the field of molecular biology and gene sequencing are allowing researchers and scientists to develop new probiotic formulas that are tailored to consumer requirements. The global probiotic supplements market is projected to register a CAGR of 15% during the forecast period (2019-2027).

Manufacturers are focusing on product differentiation on the basis of functional properties, multi-strain supplements, unique flavors, new product formats (gummies), and novel packaging formats to target specific consumer groups.

Though probiotic supplements have been largely considered to be beneficial for gut health, their potential side-effects such as nausea and headache still continue to limit sales to a certain extent. However, continued efforts in development of specific probiotic strains with significantly less or no side effects will be an important factor shaping sales of probiotic supplements in the near future.

In recent years, the probiotic supplements market has experienced a lot of regulatory backlash. However, rapidly developing preventive healthcare approach and longstanding acceptance of probiotic supplements among consumers, and resurgence of recommendations by health care practitioners for use of these supplements are offering tailwinds to the market growth.

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Key Takeaways – Probiotic Supplements Market Study

  • North America is projected to be a key market, as dietary supplements industry remains concentrated in the region. Demand for probiotic supplements is gaining a boost from consumer inclination towards alternative health practices and preventive healthcare.
  • Several manufacturers are offering probiotic supplements consisting of bacterial strains beneficial for children as well as adults, in order to target diverse demographic groups.
  • Lactobacillus-based probiotics are widely used to maintain female intimate health, making it one of the most preferred products as compared to Bifidobacterium- and streptococcus-based probiotic supplements.
  • Zero-calorie and sweetener-free tags attached to probiotic supplements continue to play a key role in boosting their demand.

Sales of Probiotic Supplements for Kids to Witness Rampant Growth

In recent past, there has been an increase in number of cases of gastrointestinal-related diseases in children. Such cases were usually addressed with over-the-counter medication, which often caused a few side effects. This has created a highly conducive environment for development of relatively-safe probiotic supplements with certain strains of bacteria that are perceived to be good for children’s gut health. Manufacturers are targeting the highly lucrative kids segment by launching products with unique flavours, colors, and shapes that have more consumer appeal.

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Know More About What Report Covers

Future Market Insights, in its new offering, offers an unbiased analysis of the global probiotic supplements market, presenting historical demand data (2015-2018), and forecast statistics for the period, 2019-2027. The study divulges compelling insights on the probiotic supplements market on the basis of end use, bacteria, distribution channel, and region. Based on end use, the segmentation includes women, seniors, and kids. Probiotic supplements for women are expected to account for the highest market share, followed by seniors, over the forecast period.

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.

Human Milk Oligosaccharides Market Global Industry Analysis and Opportunity Assessment, 2017 – 2027

Human milk oligosaccharides (HMO) helps in maintaining infant’s gut microbiota as well as promotes the growth of healthy bacteria and reduce pathogens, preventing infections and others bacterial risks. In recent past, sales of infant nutrition products have increased to a significant extent owing to the continuously rising infant population across the globe. According to WHO, the total world population is estimated to increase by approximately one billion in the next 10 years and will reach 9.5 billion by 2050. Incidentally, demand has been relatively higher to the supply of infant nutrition products. Meanwhile, sales of infant formula are also surging in some of the Asian countries such as China and India, promoting the consumption of HMO alike.  Future Market Insights’ latest report reveals that the global human milk oligosaccharides market is set to surpass a valuation of US$ 76 Mn, registering a CAGR of 14.6% between 2017 and 2027.  This growth will be primarily orchestrated by the increasing application of HMO in infant nutrition products.

In 2017 and beyond, the human milk oligosaccharides market in Europe is anticipated to witness significant revenue growth. Towards the end of 2027, Europe is anticipated to account for over 49% value share of the global market. Manufacturers in Europe are filing claims for regulatory approvals and product safety certifications in order to use HMO for preparing infant formulas. In North America, the HMO market is currently valued at over US$ 6 Mn and holds the second spot in terms of market size after Europe.

FMI’s report, titled “Human Milk Oligosaccharides Market Global Industry Analysis and Opportunity Assessment, 2017 – 2027” also cites that demand for HMO is gaining traction due to a positive perception of its prebiotic properties that help maintain a healthy immune system in infants. In addition, manufacturers are focusing on increasing their production capacities in order to enhance production of HMOs such as 2’-FL (2-fucosyllactose) that can be potentially used as an ingredient in functional food and beverages. zuChem Inc., Glycosyn LLC, Elicityl SA, Jennewein Biotechnologie GmbH, Glycom A/S, Dextra Laboratories Limited, Carbosynth Limited, Inbiose NV, ProZyme, Inc. are the leading companies operating in the global human milk oligosaccharides market.

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Key Excerpts of the Report Include:

  • Among product type, fucosyllactose HMO currently accounts for the largest value share of the market followed by sialyllactose HMO. However, the latter is expected to register a faster growth rate in terms of the market value over the forecast period.
  • By 2017-end, US$ 5.5 Mn worth sialyllactose HMO is expected to be consumed globally.
  • Increasing demand for functional food and beverage products is projected to further facilitate the growth of global human milk oligosaccharides market over the next couple of years.

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.

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Essential Fatty Acids Market Key Players, SWOT Analysis, Key Indicators and Forecast to 2027

Significant health benefits and rapid adoption as a key ingredient for preparing infant formula, adult dietary and nutritional products is fueling the demand for essential fatty acids such as omega-3 and 6 across the globe. A recent study conducted by Future Market Insights (FMI) has revealed that the global market for essential fatty acids is set to witness an impressive CAGR of 9.5% in terms of revenue over the forecast period (2017-2027). During this ten years of the forecast, the dynamics of the market will be shaped by factors such as government policies and regulations, incessantly rising demand and improvement in supply chain management of essential fatty acids.

Future Market Insights’ report titled “Essential Fatty Acids Market: Global Industry Analysis and Opportunity Assessment, 2017-2027” currently values the market at over US$ 4072 Mn and anticipates it to reach US$ 10 Bn towards the end of 2027. While favourable government policies will keep encouraging higher productions of essential fatty acids, the demand for such products will also surge upwards on account of their increasing application in processed and convenience food. Considering the growing awareness amongst consumers about the health benefits of essential fatty acids based food products, use of such product in ready-to-eat or packaged food is expected to grow over the years to come.

As per the report, omega-3 fatty acids are the most popular type of essential fatty acids, which is found in abundance in aquatic beings such fish, shellfish, krill as well as in algae and few genetically engineered plant species. Companies that are based in regions such as Latin America, Japan and the Middle East and Africa (MEA) have a better access to good quality marine based raw materials, enabling them to produce the best quality essential fatty acids. BASF SE, FMC Corporation, The Dow Chemical Company, Koninklijke DSM NV, Enzymotec Ltd., Croda International Plc, Omega Protein Corporation, Aker BioMarine AS, Polaris Nutritional Lipids, Cargill, Incorporated are some of the leading market participants profiled in the FMI report.

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Key Highlights of the Report Include:

  • By 2027-end, the global production of omega-3 essential fatty acids is expected to reach a whopping 417,518 metric tons.
  • Around 97,384 metric tons of essential fatty acids is expected to be used for manufacturing of dietary supplements by the end of 2017.
  • On the basis of source, marine animals will continue to be a key source of essential fatty acids throughout the assessment period. In 2016, essential fatty acids extracted from marine source accounted for nearly 64.4% value share of the market.
  • In terms of value, essential fatty acids in the form of oil accounted for over 50% market share in 2016 end, followed by powdered essential fatty acids. In addition, close to 309,702 metric tons of oil-based essential fatty acids is expected produced by end of the forecast period.

Among regions, Western Europe continues to be the global leader in terms of consumption of essential fatty acids. In 2017 and beyond, Western Europe will remain as one of the key destinations for market players. Meanwhile, North America will represent the largest market for essential fatty acid, as the region accounts for a relatively higher share in terms of production.

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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.

 

Automotive Wheel Coatings Market Report Covers Detailed Industry Scope, Future Scenario and Elaborates Outlook to 2030 : FMI

Advent of new technologies, rising prevalence of autonomous vehicles, and adoption of consumer-centered business models are triggering tectonic shifts in automotive industry. The effect of these trends is also evident in smaller areas of the industry such as automotive wheel coating market.

Increasingly stringent environmental regulations associated with emission of volatile organic compounds (VOC) in tandem with rising demand for performance-based vehicles has influenced market players to dedicate serious R&D efforts in devising cutting-edge automotive wheel coatings.

While automotive wheel coatings market is continuously evolving, manufacturers are maintaining their entire technical portfolio in order to fulfil requirements of customers. This has improved their competitive position in the global market owing to their R&D leadership in this domain.

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Such future-proof solutions enable automotive OEMs to leverage novel, highly sustainable coating technologies – such as waterborne – in tandem with process breakthroughs that enhance plant efficacy and reduce overall expenses. The tendency is sweeping across developing regions, in particular, which are scrambling to achieve reduced VOC emissions.

Automotive Wheel Coating Market Size Study
• Clear/top coating segment to generate substantial revenue through 2030
• Aluminum to remain prominent substrate for automotive wheel coatings
• Application in passenger cars to remain significant over following decade
• About 7 out 10 automotive wheel coatings to be sold through OEMs
• North America to account for majority of automotive wheel coating sales worldwide

“Powdered automotive wheel coatings are substantially effective with nearly 100% powder overspray recoverability, greater resilience to scratching, chipping, and fading, compared to other finishes. The process is cost-efficient, releases negligible VOC into surroundings, and involves minimal material wastage,” says analyst at FMI.

COVID-19 Impact on Automotive Wheel Coating Market

The COVID-19 pandemic has exposed supply chains in automotive industry to significant disruption, bringing global supply strategies to scrutiny. Abrupt shutdowns of manufacturing units in China and its ripple impact, resulting in widespread havoc among global automotive manufacturers, were felt subsequently in the US, Europe, India, and South America.

Such slowdown pressures in automotive industry due to COVID-induced business restrictions has been severely impacting automotive wheel coatings market business. Having outsourced their manufacturing operations to low-cost regions, several automotive wheel coating suppliers and OEMs are striving to create shorter or localized regional supply chains.

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Market Taxonomy
By Product Type
• Primers
• Basecoat
• Clear coat/Topcoat
By Coating Type
• Powder
• Liquid
• Solvent Borne
• Water Borne
By Substrate Type
• Aluminium
• Steel
• Plastic
By Vehicle Type
• 2-Wheeler
• Passenger Cars
• Compact
• Luxury
• Mid-sized
• Premium
• Commercial Vehicles/Light Commercial Vehicles
• Heavy Commercial Vehicles
By Sales Type
• OEM
• Aftermarket
By Coating Chemical Type
• Acrylic Enamel
• Acrylic Urethane
• Acrylic Lacqure
• Zinc Phosphate
• Epoxy
• Epoxy Polyester
• Polyester
• Polyurethane
By Region
• Asia Pacific Excluding Japan (APEJ)
• North America
• Latin America
• Eastern Europe
• Western Europe
• Japan
• Middle East & Africa

Automotive Wheel Coating Market – Competitive Intelligence
Ceramic-based coatings reign supreme in the global sphere of paint correction. Despite being the most diverse protection formula worldwide, potential of ceramic-based coatings are yet to be explored completely. Various players developing ceramic coatings for automotive industry are entering into business landscape, for instance,
• FEYNLAB has developed ceramic wheel coating with true nanotechnology and bonding chemistry that contains about 70% solids content, making it extremely durable to road contamination and brake dust.
• Ceramic Pro has formulated protective coating – Wheel Protection – that is based on nano-ceramic formula. The product helps protect automotive wheels from brake dust that would otherwise bake onto surfaces and result in damages.
• DP Detailing has rolled out ceramic-based wheel coating that is specifically developed for clear-coated wheels. In addition, the formulation is suitable for application in high temperatures.

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Automotive Wheel Coating Market Outlook and Key Findings
• Acrylic enamel to remain preferable coating chemical of choice through 2030
• Preference for steel as coating substrate for automotive wheel coatings to surge in coming years
• Under passenger cars, mid-sized and compact sub-segments to register fastest CAGR over following decade
• Waterborne technologies to emerge as disruptive force in global market
• Market in Asia Pacific excluding Japan (APEJ) to make quantum leaps over decade ahead

To Know More About Automotive Wheel Coating Market:
A new market research report published by Future Market Insights (FMI) on the global automotive wheel coating market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the automotive wheel coating market through seven different segments – product type, coating type, substrate type, vehicle type, sales type, coating chemical type and region. The automotive wheel coating market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of automotive wheel coating and product adoption across several end-use industries

Key Questions Answered in the Report:
1. Which coating chemical type will capture major share of automotive wheel coating market globally and why?
2. What are the factors propelling the global automotive wheel coating market?
3. What will be the revenue size of automotive wheel coating market by 2020?
4. Who are the leading manufacturers in the automotive wheel coating market?
5. Which trends and innovations are expected to shape the global automotive wheel coating market in coming years?

Top Reports Related To Automotive Market Insights
Automotive Pump Market : The automotive pump market is expected to witness a significant growth in 2021, thanks to the implementation of various carbon emission norms across various countries. A study by Future Market Insights (FMI) on automotive pump market has forecast it to reach US$ 106.0 Mn by the end of 2031, growing at a CAGR of 6.1% over the forecast years (2021-2031).

Aircraft Cabin Interior Market : According to Future Market Insight’s (FMI), the global aircraft cabin interior market is forecast to grow at 2.70% in 2021, overcoming the uncertainty about market recovery and performance during a global pandemic. FMI also predicts that the aircraft cabin interior market will exceed the overall market valuation of US$ 14.5 Bn by the end of 2021.

Floral Flavour Market Key Players, SWOT Analysis, Key Indicators and Forecast to 2027

Surpassing global market revenues of US$ 850 Mn in 2019, sales of floral flavours will see momentous growth over the course of following years. During 2019 – 2027, global floral flavour market is poised for a CAGR of over 7%, as projected by a new Future Market Insights (FMI) study.

Consumers are showing interest in unconventional and authentic flavours in their food and beverage products offering unique mouthfeel. The number of products containing floral flavours has increased multifold from 2015-2018, as they account for a sensorial effect and deliver novel and interesting taste experiences to consumers.

Key Takeaways – Floral Flavour Market Study

  • Consumers seek products that have their roots in a pre-industrialized food system that is centered around whole, natural, and unrefined ingredients. Floral flavours match the growing consumer’s interests in authenticity of their products. Thus, floral flavours are witnessing a surge in demand.
  • In 2019, Firmenich SA, a privately-owned flavour and fragrance company, declared hibiscus as the Flavour of the Year, based on the increasing appeal of usage of hibiscus in food and drinks. Hibiscus is gaining traction in the flora flavour industry due to its appealing attributes, like the pleasant aroma coupled with a touch of tangy profile.
  • Besides, the hibiscus-based floral flavour is gaining popularity in applications such as beer, yogurt, chocolates, and tea, especially in the United States, Mexico, Brazil, and Denmark, with growth also taking place in Italy and Spain.
  • Beverages sector contributes more than half of the total floral flavour market share. Floral flavours are appearing in revitalizing, healthy product launches. Lavender, rose, jasmine, elderflower, and hibiscus flavours are witnessing significant demand, predominantly for use in soft drinks.
  • Frequent new launches in the alcoholic beverages category are progressively featuring floral flavours to gain greater consumer traction and achieve marketing differentiation.
  • Europe and North America will be significant in the global floral flavours market over the forecast period. The demand for floral flavours has especially impacted the European flavour industry.

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Consumers are increasingly looking for healthier, authentic, and natural-tasting infused beverages, fusion drinks, and floral-infused RTD coffee. Thus, new entrants seeking to establish their position in the floral flavours market must focus their efforts on the beverage industry.

Botanicals Trending Floral Flavour Space

New floral flavours are emerging to witness increasing demand from the food and beverage industry. With an increasing assortment of floral flavoured mixers and edible flowers, food and beverage manufacturers are experimenting with amalgamation of floral flavours to eventually create unique recipes. The increase witnessed in manufacturers’ investments into floral flavours is indicative of the fact that the botanical flavour trend is here to stay in the long run.

Europe Remains Important Market for Investors

European markets are rapidly witnessing new product launches featuring infused floral flavours in vast products ranging from chocolates, snacks, yogurts, beverages, and many more. In the United Kingdom, Rowntree released fruit and flower-infused pastilles, whereas, in Germany, Alpro launched orange blossom-flavoured apricot soy yogurt. Fermè, an Italian fruit supplier company, launched vegan cheese with fermented cashews preparation, infused with flowers and herbs in the U.K.

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Manufacturers Augmenting R&D Investments to Develop Application-specific Flavours

Key players operating in the flavour industry are investing more in research and development activities to upscale their floral flavour production capacity and to provide consumers with unique blends of floral flavours. Flavour manufacturers are strengthening their partnership with end-user industries to meet the growing demand for innovation in food and drink offerings.

  • In April 2016, Givaudan S.A., a leading flavour manufacturing company in Switzerland invested US$ 126Mn to open an innovation center in Switzerland.
  • In July 2016, Takasago International Corporation invested towards a new development center for flavours and fragrances in Mexico, to enhance its product portfolio and presence in Latin America.

Know More About What the Report Covers

Future Market Insights, in its new offering, provides an unbiased analysis of the global floral flavours market, presenting historical demand data (2016-2018) and forecast statistics for the period from 2019-2027. The study divulges compelling insights on the floral flavours market based on the raw material (hibiscus, lavender, neroli/orange flower, rose, elderflower, jasmine, cherry blossom, chamomile, and violette), end-use (food- dairy, bakery, confectionaries, snacks, fats and oils, and beverages- alcoholic beverages and non-alcoholic beverages), and product type (natural, organic, and artificial) across seven major regions.

 

Coconut Flour Market Key Players, SWOT Analysis, Key Indicators and Forecast to 2026

Key excerpts from Future Market Insights’ latest report on the global coconut flour market projects that by the end of 2026, around 850.8 Thousand Tonnes of coconut flour is expected to be consumed across the globe. Increasing awareness amongst consumers about health benefits of coconut flour is expected to fuel its demand over the next couple of years. Moreover, coconut flour is gluten-free, making it consumable for those who are allergic to wheat or are sensitive to other similar gluten-based substances. Coconut flour has emerged as a good alternative for wheat flour. In recent past coconut flour has also seen a surge in its sales, owing to the rising demand for functional flour.

In terms of production, China is the leading producer of Coconut Flour followed by Poland, Germany, Chile and Austria. Production of coconut flour in Ukraine has also spiralled in last 3 years. Meanwhile, the Western Europe region holds the top position in terms of consumption followed by North America. Most European consumers value quality and prefer natural products that are healthy and carry no side effects, hence the demand for healthy food products such as coconut flour is significantly high in this region. In North America, the U.S. is a major importer of coconut flour and accounts for a sizeable share of the market.

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The FMI report titled “Coconut Flour Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027” reveals that the global coconut flour market is set to expand at a CAGR of 6.6% to reach a valuation of 725.5 Mn by the end of forecast period. In 2017 and beyond, the market is expected to be governed by a number of trends, which include:

  • Soaring popularity of coconut flour tortillas in several parts of the world. From an exotic food item, coconut flour tortillas are now turning into mainstream pantry food.
  • In countries such as Japan and the U.S., people are trying to developing new products using coconut flour as a key ingredient. Tortilla chips made with coconut flour has been a great success and well appreciated by food lovers.
  • Coconut flour is being increasingly used in manufacturing the nutritional bars, chocolate fillings, and other baking products such as pizza base, and bread.
  • Growing demand for coconut flour based food products in the emerging countries such as China and India.
  • Increased availability of coconut flour, owing to setting up of organised retail structures in both developed and developing regions.

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Celebs Coconut Corporation, Nutrisure Ltd., Nutiva, Inc, Bob’s Red Mill Natural Foods, Primex Coco Products Inc., The Coconut Company, Connecticut Coconut Company, Van Amerongen & Son., Healthy Traditions and Smith Naturals are some of leading manufacturers of coconut flour profiled in the FMI report.

US$ 7.53 Billion Europe Malt Extracts Market Driven by Pervasive Health and Wellness Trend

Rising consumer awareness about the high nutritive value of diastatic malt extract will continue to drive the growth of Europe malt extract market Increasing health awareness and rising consumer demand for traditional foods will also influence demand. However, non-availability of substitutes and shortage of malt owing to increasing usage in breweries can impede demand. These insights are according to a new research report by Future Market Insights.

The key trends influencing the Europe malt extract market include,

  • Increasing preference for gluten-free bakery products: Concerns about rising obesity levels is prompting consumers in Europe to opt for gluten-free bakery products. Gluten-free malt extract is used as a colouring and sweetening agent in a variety of products. Owing to this, it is expected that demand for malt extracts will witness steady growth during the period 2016-2026.
  • Government regulation on additive-free products: The industry-wide focus on additive-free products has led to increased demand for malt extracts, as these reduce the need of adding synthetic flavours, resulting in extended shelf life of products.
  • Marketing aligned with ‘health and wellness’: Manufacturers are focusing on selling the ‘health and wellness’ attributes of malt extracts, by creating relevant marketing campaigns.
  • Preference for sugar-free label products: Non-diastatic malt extracts naturally convert to sugar, reducing the need for addition of sugar. Owing to these factors, demand for malt extracts is expected to witness an increase during 2016-2026.

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A Highly Fragmented Market 

Top three players – Group Soufflet, VIVESCIA Industries, and Cargill Incorporated – account for over 28% volume share of the Europe malt extract market. The Europe malt extract market remains quite fragmented fifteen players accounting for nearly 72% volume share. Both established and emerging players are focusing on increasing their production capacity and acquisition of niche players to boost their market position.

The Europe malt extract market was valued at US$ 7.53 billion in 2016. Future Market Insights projects it to grow at 5.6% CAGR during the forecast period 2016-2026, reaching US$ 12.94 billion in revenues.

Barley Remains the Largest Source 

Barley remains the largest source for malt extracts, accounting for nearly 75% revenue share of the market in 2016. In 2016, this segment was valued at US$ 5.63 billion; in terms of volume, demand for barley was worth nearly 9 million tonnes in 2016. Wheat remained the second largest source, followed by rice and rye.

Dry Malt Extracts Continue to Witness Higher Demand

Malt extracts are available in dry and liquid form, with the former accounting for bulk of demand. Demand for dry malt extracts will continue to remain higher than liquid variants throughout the forecast period. While dry malt extract volume is projected to grow at 4.6% CAGR, demand for liquid malt extracts will grow at 3.9% CAGR.

Standard Outsells Speciality 

Future Market Insights has also segmented the Europe malt extract market on the basis of product type into standard and specialty. The standard segment accounted for over 77% revenue share of the market in 2016; this is expected to decrease to 76% by the end of forecast period.

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Beverages Largest Application Segment 

Beverages continue to remain the largest application segment of malt extracts. This segment held 48% revenue share of the market in 2016. Bakery and confectionary remain the other key application segments.

Western Europe Accounts for Bulk of the Demand 

Demand for malt extracts is concentrated in Western Europe, owing to the presence of a large number of manufacturers. Future Market Insights projects Western Europe to remain the dominant region for malt extracts during the forecast period.

Global Consumption of Asparagus Poised to Reach 10 Million MT by 2027-End

Key excerpts from Future Market Insights’ latest report on the global asparagus market project that by the end of 2027, around 10,300,521.7 metric tonnes (MT) of asparagus will be consumed across the globe. The sales of 10 million MT of asparagus are estimated to bring in revenues worth over US$ 37 Bn. Rising awareness among consumers regarding benefits of consuming asparagus is expected to instrument the growth in global consumption. By helping consumers boost their immunity, enhance brain function, and at certain extent, fight cancer, asparagus will continue to be an essential vegetable rich in nutrients.

In terms of production, China is expected to remain the world’s largest asparagus producer throughout the forecast period, 2017-2027. In 2014, China recorded production of half a million metric tonnes of asparagus. China’s contribution to the asparagus market in Asia-Pacific will remain significant. However, brimming demand for asparagus makes Western Europe the largest market, procuring over 40% share of global revenues. North America is also expected to be at the forefront of expansion of the global asparagus market, recording consumption of nearly 2 million MT of asparagus by 2016-end.

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In spite of ample production and growing awareness regarding benefits of asparagus, the market is poised to grow at a moderate place. In terms of volume, the market is projected to showcase a 2.2% CAGR, while global asparagus revenues are projected to soar sluggishly at 3.1% CAGR during the forecast period. The report, titled “Asparagus Market: Global Industry Analysis and Opportunity Assessment, 2017-2027,” has identifies key restraints for the growth of global asparagus sales, which include:

  • Farmers Opting for Direct Marketing – Farmers cultivating asparagus sell their produce by themselves, through traditional village bazaars and roadside outlets. Large and small restaurants as well as common consumers are also preferring to purchase this farm-fresh asparagus through direct marketing of farmers. This practice is impacting the global asparagus sales, but at a moderate extent.
  • High Costs for Processing & Storage of Asparagus – The most crucial inhibitor for growth of global asparagus sales is the need for higher capital investment in storage and processing of asparagus. Cost of packaging, cooling and transportation is relatively high, which reduces the price per pound of asparagus. Reduction in price per pound further leads to monetary losses for manufacturers. Processed asparagus, such as asparagus in brine, soups, mixed vegetable products etc., being sold at higher cost price, is expected to result in lower uptake among some sections of consumers in the world.

Leading manufacturers of asparagus include: Altar Produce LLC, Sociedad Agrícola Virú, DanPer Trujillo S.A.C., Limgroup B.V., TEBOZA BV, THIERMANN SPAGEL FARM, ILIOS – The Greek Asparagus Company, BEJO SEEDS LTD., Spargelhof Elsholz Gbr, Cutter Asparagus Seed, JERSEY ASPARAGUS FARMS, INC., Consorzio Associazione Produttori Ortofrutticoli Foggia, Mazzoni Vivai, and California Asparagus Seed and Transplants, Inc.

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Additional Highlights from the Report –

  • By the end of 2017, the report estimates that over 8.2 million MT of asparagus will consumed globally, raking in US$ 27.7 Bn revenues
  • Towards the end of 2027, over three-fourth of global revenues will be accounted by sales of fresh asparagus
  • Likewise, green asparagus will also hold 75% share of global revenues throughout the forecast period, registering revenue growth at 3.3% CAGR

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.

 

Investments in Cold Storage Infrastructure will IQF Vegetable Market to Surpass US$ 2.4 Bn Valuation by 2031: FMI Report

Consumer awareness is on the rise regarding the consumption of IQF vegetables through various food applications. Most regions are witnessing a surge in demand due to the nutritional benefits of IQF vegetablesAccording to a new report by Future Market Insights (FMI) the IQF vegetables market is set to display a moderate CAGR of 4.5%, reaching a US$ 2.4 billion valuation by the end of the assessment period.

The use IQF vegetables in juice production is surging, which is further used in a range of end-use industries, including personal care and cosmetics. The demand from consumers for cosmetics with natural ingredients is likely to push IQF vegetable juice production for use in foundations, mascaras, creams, and more.

Increasing use of IQF vegetable fast food, including pizzas and burgers is driving demand. Frozen vegetables are commonly used in the preparation of fast food. Many fast food producers, such as Domino’s and McDonald’s Corporation have switched to IQF vegetables in a large number of restaurants based in North America and Western Europe.

IQF vegetables are primarily used in the food and beverage industry. They have also found application in the production of concentrates. Improvements in cold storage facilities for supply chains will remain key to the growth of the industry for the foreseeable future.

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Key Takeaways from the IQF Vegetable Market Study

  • The U.K and Germany have been forecast to hold 38.2% share in the Europe market in 2021.
  • GCC countries are expected to witness the highest Y-o-Y growth rate ranging from 5.4% to 10.2% from 2021-2031, aided by investments in industry infrastructure.
  • IQF tomato products are expected to reflect strong growth, supported by positive consumer perception towards puree products.
  • Broccoli and cauliflower products will register a CAGR of 5.1%, aided by demand in the food service sector across Europe and North America.
  • India and China will emerge as high potential market, supported by a vast consumer base, albeit being restricted by inadequate cold chain infrastructure.

IQF technology has created a novel growth opportunities in the frozen food ecosphere. Vegetables processed by IQF technology have longer shelf lives. The increasingly fast-paced lifestyles of working-class consumers have resulted in high demand for convenience foods, which in turn has helped the IQF vegetable market grow through 2021,” says a lead analyst at FMI

Ready-to-eat Food Applications to Create Growth Opportunities

Globally, the value and volume share of ready-to-eat food applications to the overall IQF vegetables market will rise significantly in the coming decade. This can be attributed to the strong demand for IQF vegetables by end-user industries due to consumer preference for convenience foods particularly in urban areas.

Ready-to-eat food producers in North America, Europe, and APEJ are reflecting faster growth due to the fast-paced life of the working-class population who are using IQF vegetables to reduce output time, while also reducing operational time and costs. Innovation and the launch of new ready-to-eat food products will boost the IQF vegetable market for the foreseeable future.

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Who is Winning?

Concentrates being produced from IQF vegetables is an emerging trend in the global IQF vegetable market. Processes such as heating and drying are consequently gaining traction.

Vegetable concentrate manufacturers prefer IQF vegetables, owing to a long shelf life. Leading producers in the market are largely focusing on capacity and geographical expansion strategies, to leverage unexplored opportunities in emerging economies.

Some of the leading companies offering IQF Vegetable are B&G Foods Holdings Corp., Capricorn Food Products India Ltd, ConAgra Foods, Inc, Dole Food Co., Greenyard NV, J.R. Simplot Co., Kerry Group Plc., Pinnacle Foods, Inc., SunOpta Inc., Uren Food Group Limited, and other.

Get Valuable Insights into IQF Vegetable Market

Future Market Insights, in its new offering, provides an unbiased analysis of the IQF vegetable market, presenting historical demand data (2016-2020) and forecast statistics for the period from (2021-2031). The study divulges compelling insights on the IQF vegetable market based on type (beans, peas, corn and baby corn, broccoli and cauliflower, potato, onion, tomato, and carrot), by application (food, beverage, and concentrate) across ten major regions North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA.

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.

Dietary Fibres Market Key Players, SWOT Analysis, Key Indicators and Forecast to 2032

In a recent study, Future Market Insights (FMI) offers a perspective on the growth trajectory of dietary fibres market for the period between 2022 and 2032. As per the report, global consumption volume of dietary fibres reached 1.8 metric tons in 2021, equaling revenues worth ~US$ 8.47 Bn. Gains will remain driven by increasing consumer awareness regarding the benefits of dietary fibres along with food manufacturers engaging in fibrous NPDs (new product developments).

As healthcare professionals continue to encourage fibre intake as a key to improving long-term health, market players are significantly paying attention to value-added offerings. Big brand companies as well as small high-tech startups are rigorously exploring the potential of dietary fibres in their products, which is likely to promise new beginnings for the market stakeholders.

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Consumers, leading fast-paced lives, have started to keep an eye on dietary recommendations, resulting in a move towards proactive healthcare and lifestyles. As consumers are becoming food explorers and newer trends are emerging at rapid pace, FMI’s analysis infers that the dietary fibres market players are placing betting on R&D investments and new product launches.

Fibre intake has been alarmingly low in various regions, resulting into population-wide deficiency – known as ‘fibre gap’. As science behind dietary fibres expands, this ingredient has been witnessing renewed interest from young consumers for weight management benefits, while aging consumers tend to seek digestive health benefits.

Stakeholders Leverage White Spaces to Drive Sales Opportunities

According to the FMI study, the dietary fibres market is likely to grow at CAGR of ~10.6% during the predefined timeframe. Obesity, diabetes, and other lifestyle diseases are on the rise, especially in developed regions, and as a result consumers are increasingly becoming health conscious and spending on high nutritional products. The study opines that a rise in consumer preference for maintaining a healthy diet and regulating body weight will provide a strong business outlook for the market players.

Use of soluble dietary fibres has been confined in functional F&B industry as a highly nutritive ingredient, while stakeholders are focused on identifying and leveraging the white spaces in their application, which range from pet food to cosmetics. Capabilities of corn fibre as an effective fibre source for pets, lignin as an emulsifier and efficient substitute for whole eggs in bakery products, pectin in food processing, and beta-glucan in cosmetic production are increasingly being explored. As the market continues to benefit from consumer shift towards plant-based ingredients and sugar substitutes, stakeholders are further exploring new sources of dietary fibres, apart from cereals & grains and fruits & vegetables.

As per the study, dietary fibres market players continue to witness growth opportunities in developed markets – Europe and North America, which collectively account for ~60% revenue share. In addition to increasing consumer spending on products with high nutritional value, government agencies in the regions are undertaking awareness campaigns to bring due attention towards the need for maintaining a balanced diet, thereby creating a high demand for dietary fibres. Market stakeholders are further eyeing on newer opportunities in Asia Pacific, particularly in countries such as China, Japan and South Korea, on the back of a notable trend for healthier eating.

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FMI’s study identifies restraints that could possibly represent a threat to the lucrative stride of dietary fibres market. Research studies have found that excessive consumption of dietary fibres and their addition in processed foods can have adverse effects on human health, which may add to reluctance of consumers to adopt such ingredients.

The study opines that dietary fibres market is on an upward swing with increasing number of small players entering into the space with new product offerings that align with consumers’ trends. Leading players continue to put emphasis on filling the fibre gap through R&D activities and product innovations.