Market Research Blog – Page 15499 – New Product Development

APAC Functional Food Ingredients Market Size Estimates and Forecasts by Region, Growth Rate and Trend Analysis by Types and Application 2022 to 2032

In line with increasing incorporation into a variety of fortified F&B products such as fresh produce, packaged foods, dairy products, and functional beverages, functional food ingredients continue to solidify their position in the industry. Ascending sales of healthy or functional drinks is particularly benefiting the growth of functional food ingredients market in Asia Pacific (APAC).

Set to surpass the value of US$ 3.5 Bn by 2022 end, APAC functional food ingredients market will witness a robust CAGR during 2022 – 2032.

Key Takeaways – Functional Food Ingredients Market Study

Growing popularity of omega-3 as a supplement in the Asia Pacific region is expected to boost the growth of the functional food ingredients market, particularly in the spreadable fats and oils food products segment.
- ASEAN is ranked as the seventh-largest economy in APAC, and consumers in this region are more inclined towards intake of nutritional food products that offer various health benefits.

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Multinational companies manufacturing functional food ingredients are taking initiatives to tackle nutritional deficiencies. Companies such as Nestlé and Unilever have started food fortification to add both macro and micronutrients in their food products.
- Nestlé S.A. started fortification of its products such as cereals to target deficiencies in specific global markets. By 2016, the company fortified 200 billion servings of food and beverages, worldwide, while partnering with the HarvestPlus program (bio fortification) and agricultural research partners in India.
- Unilever PLC partnered with the World Food Program to launch ‘Together for Child Vitality’, an initiative to improve the nutrition and health of school-aged children. Unilever PLC fortifies products such as spreads, seasonings, porridges, and bouillons, which are affordable and easily accessible.
Japan is perceived as a highly profitable market for manufacturers of functional food ingredients worldwide.
- In 2017-18, 8-10% of Japanese population was diabetic, which created significant opportunities for manufacturers of functional food ingredients to target this demographic by offering products to mitigate the impact of diabetes.

Consumer inclination towards preventive healthcare remains the key booster to growth of functional food ingredients market in APAC. A new research study of Future Market Insights (FMI) states that growing demand for natural functional food ingredients has been a remarkable trend that would further shape the sales of prebiotic ingredients. This is likely to be among the key factors influencing market growth in APAC.

Know More About Report Inclusions

Future Market Insights, in its new offering, provides an unbiased analysis of the global functional food ingredients market, presenting functional food ingredients historical demand data (2017 – 2021), and functional food ingredients forecast statistics for the period of 2022 – 2032.

The study divulges compelling insights on the functional food ingredients market based on ingredient type (minerals, vitamins, probiotics, prebiotic & dietary fiber, proteins, carotenoids, and omega-3 fatty acids), based on application (beverages, dairy & products, and bakery & confectionery).

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Why Future Market Insights?

• 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

Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

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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Natural Food Colours Market size, Insights, Prospects, Growth Trends, Key Trends, Opportunities and Forecast until 2028

Future Market Insights’ outlook on the natural food colours market studies the growth path of the global market over a 10 year period from 2018 to 2028. According to the report, growing consumer preferences for natural food colours over synthetic variants is anticipated to drive revenue growth in the coming decade. The study forecasts revenue from the sales of natural food colours to cross US$ 7,500 Mn by the end of 2018 and reach a value in excess of US$ 14,000 Mn towards the close of 2028. This translates to a CAGR of 6.5% in the next 10 years.

Growing Health Awareness and Increasing Consumer Demands for Clean Label Food Products Boosting Sales of Natural Food Colours

Over the years, there has been a steady rise in demand for clean label food and beverage products, especially in the infant / children food products category. This has resulted in the launch of clean label F&B products across the globe. This factor is fuelling global demand for natural food colours used to manufacture these products. Consumers are becoming increasingly aware of the ill effects of consuming synthetic raw materials such as food colours, used in the production of various types of food and beverage products. Consumers are particular about verifying food labels and ingredient compositions, and there is rising preference for natural, organic, and non-GMO products. As a result, the adoption of natural food colours has witnessed a sharp rise in the last few years.

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Increasing Government Approvals for Natural Food Colours Acting in Favour of Market Revenue Growth

In the wake of a growing number of petitions by manufacturers of natural colours for the use of natural food colours in their products, governments of various countries have undertaken initiatives to promote natural colour pigments. Governments are also imposing stringent rules and regulations pertaining to the use of clean label and eco-friendly food and beverage products. This is further augmenting growth of the natural food colours market as manufacturers of food and beverage products are increasingly adopting natural food colours in their formulations.

Manufacturers of Natural Food Colours Leveraging Lucrative Market Opportunities to Ensure Sustained Growth and Gain Competitive Edge

The natural food colours market is characterized by the presence of top companies operating in the global market. With consumers moving from synthetic to natural and clean label food ingredients, the global market provides plenty of opportunities for manufacturers of natural food colours to offer cost-efficient natural food colours to cater to different end uses in the food and beverages industry. Attempts by manufacturers of natural food colours to meet the rising demands from consumers are supported by initiatives undertaken by associations such as The International Association of Color Manufacturers (IACM), EU Specialty Food Ingredients, and Natural Food Colors Association (NATCOL) to protect and enhance key stakeholder interests in the global natural food colours market.

Manufacturers of natural food colours are also leveraging technological advances in the F&B industry to improve their production processes. For instance, companies are using the microencapsulation technique in the colour delivery system and in the final product formulation. Manufacturers are also engaged in producing a variety of natural food colours to cater to a wide spectrum of food and beverage products. A breakthrough technology in the natural food colours market is the development of fermented carmine solution. Such innovations and technological developments are anticipated to bolster revenue streams in the global natural food colours market.

Another lucrative opportunity for manufacturers of natural food colours is in the meat industry. Natural food colours are widely used in meat products. For example, natural yellow colour is finding increasing application in pork, meat, and bakery products in Japan. Gardenia yellow – another natural food colour variant – is predominantly used in rice cakes, noodles, and other food and beverage products. Manufacturers are creating new product formulations that are more temperature compatible and stable for specific use in meat products.

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Colostrum Market Analysis by Growth, segmentation, performance, Competitive Strategies and Forecast to 2031

Colostrum is a gift from nature in the form of first food.It constitutes a lucrative market, which has been studied by Future Market Insights (FMI) in details. According to the report, the increasing awareness about various health benefits of colostrum, will enable the market reach a valuation of US$ 3.19 Bn in 2021.

Colostrum helps babies and new-born animals develop and thrive.Studies have shown that taking bovine colostrum supplements can boost immunity, combat diseases, and enhance gut health in adults.It is a pre-milk material developed by all mammals during the birthing process. Colostrum is a mixture ofgrowth and immune factors, as well as essential nutrients, all of which are intended to stimulate a newborn’s immune system, growth and help their digestive health, ensuring their overall health, strength.

Colostrum is beneficial to human body in two respects. First, the immune system is bolstered because of the presence of several immune factors and natural antibiotics. Second, its numerous growth factors provide the organism with a broad-spectrum boost, promoting optimal health and healing. Immunoglobulin, growth factors, and antibodies all play a part in passive immunity, which is the prevention of infection.

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Leading manufacturers of colostrum are focusing on establishing strong distribution channel as they identify the regionsshowcasing high demand for colostrum.They also are establishing their presence on online retail channels such as Walmart, Amazon, and many more to gain maximum traction of the consumers.

Colostrum in pharmaceuticals works like magic when it comes to growth and immunity.Various pharmaceutical manufacturers are offering colostrum as supplements in the form of tablets.The powder form of colostrum also is highly accepted by the consumers. Gym enthusiasts are looking for natural proteins with high nutritional contents are settling down with colostrum. Continuous research and development undertaken by manufacturers are helping the colostrum market to gain high traction.

For instance- in 2019 a clinical trial conducted by BiodanePharma A/S on Bovine colostrum against gastrointestinal toxicity caused by chemotherapy in children with acute lymphoblastic leukaemiaWhen compared to patients in the placebo community, paediatric patients with acute lymphoblastic leukaemia who received bovine colostrum had significantly lower peak scores for oral mucositis.

Rising Demand for Probiotics and Colostrum to Aid Growth

Probiotic products are becoming increasingly common in the fast-growing health sector. Consumption of probiotics such as lactobacillus acidophilus has increased significantly, as it promotes the growth of beneficial bacteria in the gut.By maintaining a stable intestinal climate and balance, probiotics help to prevent diseases like ulcerative colitis and colon cancer.

Probiotics in colostrum are gaining popularity as a way to help children with gastrointestinal issues. The favourable market view is expected to support manufacturers selling probiotics and colostrum products in the near future.

Who is winning?

Some of the key players operating in the Colostrum market are, Colostrum BioTec GmbH, Zuche Pharmaceuticals, BiodanePharma A/S, Agati Healthcare Pvt. Ltd., McePharma, Cure Nutraceuticals Pvt. Ltd., Ingredia Nutritional (Ingredia S.A.), Sterling Technology, Biotaris B.V., NIG Nutritionals Limited, La Belle Inc. and other players.

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Red Berries Market Size (Value & Volume), Future Trends, Opportunities and Sales Channels, Forecast 2026

Red berries are gaining popularity as a natural ingredient, with global demand growing by 1.9% volume in 2016. The all-pervasive, ‘health and wellness’ trend will continue to influence demand positively, as global revenues are expected to surpass US$ 18.5 Mn in 2016, up from US$ 18.1 Mn in 2015.

Beverages will remain the largest application segment for red berries, accounting for 5.3 Mn tonnes of demand in 2016. This is an increase of over 3.5% over 2015. Dairy products, the second largest application segment will grow by 2.8%.

By berry type, grapes will continue to witness highest demand from end-use industries, growing by 3.2% in 2016. This will represent a market value of over US$ 8.9 Mn.

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By product type, juice concentrates will maintain their dominance in 2016 as well, representing over 34.3% revenue share of the market. Juice concentrates volume will grow by 3.6% in 2016, and total US$ 6.4 million in revenues.

Western Europe, the largest market for red berries, will increase its revenue share of the market to 25.5%. North America the second largest market will register impressive growth in 2016.

Ocean Spray Cranberry Inc., Döhler Group, SunOpta, Inc., Hortex Group, Milne Fruit Products, Fruit d’Or, Townsend Farms, Inc., Kerr Concentrates Inc., Maberry & Maberry Berry Associates, Pacific Coast Fruit Products Ltd., NorthWest Berry Co-op and Berryhill Foods Inc. are some of the key players in this market. Leading companies are focusing on expanding their production capacity and launching new product offerings to meet the growing demand for red berries. Developing economies, where there is rapid growth in demand for natural ingredients, are expected to remain a key target market for red berry manufacturers.

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Agar Market Trends, Strong Application Scope, Key Players, Growth Overview and Forecast by 2026

Agar being used as an essential natural ingredient in food and beverages; in technical application; in bacteriological and many other sectors is propelling the demand for agar. Future Market Insights (FMI) estimates global agar volume to surpass 10,968.8 tonnes by 2016 end and represent market value of over US$ 220,838.5.

In global market, the demand for agar is dominated by food and beverage segment which especially includes bakery and dairy products. Companies dealing in agar products are promoting agar as an ingredient which has natural and health benefits. Apart from its wide application in food and beverages industry, its application is also increasing in cosmetics, pharmaceuticals, media culture and medical analytics.

Food and beverage industry is the largest segment which are preferring agar as a thickener and stabilising agent and is expected to account for over 84.0% value share in 2016. Moreover, food and beverage segment is expected to reach 9,216.8 tonnes in 2016 – an increase of 1.5% over 2015.

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The form segment includes strips and powder. With powder segment registering significant revenue generation and estimated to account for 63.5% value share in 2016. FMI estimates global consumption of agar powder to surpass 6,969.7 tonnes by 2016 end, an increase of 1.7% in 2016 over 2015.

In terms of consumption, Western Europe is the largest consumer with the total consumption estimated at 3,012.7 tonnes in 2015. Among all the regions, APEJ is predicted to observe robust growth over forecast period 2016–2026.

Agarmex, New Zealand Manuka Group, Hispanagar, Acroyali Holdings Qingdao Co. Ltd., Industrias Roko, S.A, Neogen, Merck Group, Agarindo Bogatama, Setexam and Norevo Gmbh are the major companies identified across the value chain in the global agar market. Companies are also emphasising on research and development for application of agar in technical applications.

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Animal Feed Additives Market Covid-19 Impact Analysis, Size, Share, Key Trends, Demand and Forecast till 2031

As per ESOMAR-certified consulting firm Future Market Insights (FMI), the animal feed additives market reached US$ 16,364.1 Mn in 2021. With increasing adoption of protein-based animal feed additives, the market is poised to expand at a steady 2.70% CAGR between 2021-2031.

The increasing demand for high-quality and nutritious animal products such as eggs, meat, and milk have underscored the need for a balanced diet in livestock. Driven by this, farmers are heavily investing in animal feed additives to suffice the dietary requirements in livestock, thereby promoting sales in the market.

Moreover, the ever-increasing meat consumption in various countries is generating demand for animal feed additives in animal husbandry and pisciculture.

To promote better health and productivity in animals, governments in various countries have banned the use of antibiotics in animal feed, which is increasing the adoption of plant-based animal feed additives in the market.

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Stringent regulations regarding product labeling are encouraging producers to improve ingredient selection and enhance research and development for launching better products in the market. Increasing awareness regarding a balanced diet in the livestock industry will remain a major factor driving sales in the market.

As per FMI’s regional analysis, the U.S. will dominate the animal feed additives market, owing to the presence of well-established agriculture and livestock industry. Apart from this, the growing population and meat consumption in the country is anticipated to shoulder market growth in the near future.

Key Takeaways from Animal Feed Additives Market Analysis

Amino acids will emerge as the most preferred product type, owing to their health benefits including improved digestion and gut health.
Animal feed additives will be widely adopted in the poultry sector, due to growing demand for eggs and chicken in several countries.
Sales of plant-based animal feed additives will gain traction for improving the texture, taste, and odor of animal feed.
The U.S. is anticipated to witness high demand for animal feed additives due to expansions in the agriculture and livestock industry.
China will exhibit lucrative growth patterns, owing to increasing meat production and consumption in the country.
Prevalence of regional and global market players will shape the sales outlook of animal feed additives in Germany.
Growing population and shifting consumer preference towards protein-rich diet will foster sales of animal feed additives in India.
Japan and South Korea will collectively account for 13% of the total market share.

Competitive Landscape

Ajinomoto Co., Inc., Akzo Nobel N.V., Alltech Inc., Archer Daniels Midland Company, BASF SE, Biomin GmbH, Cargill Inc., Chr. Hansen Holding A/S, CP Group, E. I. du Pont de Nemours and Company, Evonik Industries AG, Invivo Group, Koninklijke DSM N.V., Kemin Industries, Lallemand Inc., Norel S.A., Novozymes A/S, Nutreco, Phibro Animal Health Corporation, Novus International Inc., Tyson Foods, Inc., and Solvay Group are among the leading players operating in the animal feed additives market.

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Aloe Vera Extracts Market 2016: Global Industry Analysis, Size, Share, Growth, Trends And Forecast To 2026

Aloe vera extracts are gaining traction as an essential ingredient in food, cosmetics and pharmaceuticals, with global volume to surpass 60,720.4 tonnes in 2016 end, representing revenues worth US$ 1.6 Bn.

Demand for aloe vera extracts for manufacturing aloe vera gels, cosmetics products, juices, and yogurts will continue its upward momentum in 2016 as well. The all-pervasive health and wellness trend will also boost positive sentiment on aloe vera, with wide-ranging applications in low-calorie fruit juice and packaged drinking water opening up new avenues of growth.

Cosmetics, the largest end-use sector for aloe vera extracts, will account for over 45% of global demand in 2016, with annual volumes totalling 27,458.5 tonnes – an increase of 6% over 2015.

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Among all the product type segments, aloe vera whole leaf extracts will continue to grow at a relative higher rate, representing 41% volume share of the market in 2016. Global consumption of aloe vera whole leaf extracts will surpass 25,280.2 tonnes by 2016 – an increase of 6.2% in 2016 over 2015.

Germany was the largest consumer of aloe vera extracts in 2015, with total consumption at 3,139.2 tonnes. It will further its lead as the largest market in 2016, witnessing a y-o-y volume increase of 5.3%. Demand will continue to grow at a healthy rate in Asia Pacific, where a rapidly growing middle class with increasing disposable income is making a steady shift to natural and organic products.

Lily of the Desert Organic Aloeceuticals, Aloe Farms Inc., Terry Laboratories Inc., Foodchem International Corporation, Natural Aloe Costa Rica S.A., Pharmachem Laboratories Inc., Aloecorp Inc., and Aloe Laboratories Inc. are the market leaders identified across the value chain in the global aloe vera extracts landscape. The global aloe vera extracts market is highly fragmented, with the top eight players accounting for around 6–7% revenue share of the global market in 2015. Leading companies are looking to expand their production capacity and launch new product offerings in a bid to increase market share, expand customer base and achieve a competitive edge.

Long-term outlook: FMI maintains a positive long-term outlook on the global aloe vera extracts market, estimating global revenues to surpass US$ 3.3 Bn by 2026. Volume-wise, the global aloe vera extracts market is anticipated to expand at 7.4% CAGR through 2026.

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Pea Protein Market Insights with Upcoming Trends Segmentation, Opportunities and Forecast to 2031

Increasing consumer interest in dietary protein has bolstered demand for pea protein globally. According to a Future Market Insights (FMI) report, the market is set to reach a valuation of US$ 3.2 Bn in 2021, growing at an exponential rate of over 14.2% through the end of 2031.

Consumers are focusing on plant-based proteins sources due growing interest in vegetarian and vegan diets, clean label trends, and the need to minimize allergens from animal-based products.

Millennial consumers are increasingly concerned about their health and nutrition, which has led to increased adoption of organic and natural food, free of additives, with non-GMO certifications. This trend is expected to increase demand for pea protein in the global market.

A growing millennial population is likely to create opportunities for food and beverage manufacturers. North America and Europe will continue to exhibit high demand for pea protein, while South Asia will emerge as a lucrative region for market players.

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The global rise in obesity and diabetes rate is also influencing consumers to change their dietary habits, creating a conducive environment for pea protein sales.

Companies are therefore focusing on labelling their products appropriately in accordance to strict regulatory guidelines. Organic food products, for example, are identified through their labels, which often certify their 100 purity.

Furthermore, the growing number of private label brands and increasing investments in promotional campaigns and marketing strategies for organic products evoke a sense of authenticity for product purchases.

The pea protein industry is influenced by growth in premium protein lines. Premium product sales are currently mainstream in Japan, and are increasingly distinguishing themselves from private label options. Premium ‘selected’ product versions are aimed at consumers who are willing to pay a higher price for high-quality ingredients.

Key Takeaways from the Pea Protein Market Study:

The U.S. pea protein market leads in North America and accounts for 82% in 2021. Rising awareness towards personal health from millennials aids growth.
Germany leads the Europe market, supported by the presence of key food processing units, accounting for nearly US$ 222 Mn in 2021.
Japan is emerging as a high potential market in East Asia, reflecting a 18% CAGR through 2031, driven by demand in the cosmetic and personal care sector.
Conventional pea protein holds a share of 90.8% of the global pea protein market in 2021, supported by easier access to raw materials.
Protein isolates, driven by high protein content accounted for a market share of 46.3% in 2021 of the global market.

Who is Winning?

Pea protein manufacturers are largely focusing on offering products through various online retailers to meet the needs of the vast global consumer base. Efforts towards complying with quality expectations for pea protein products are gaining traction in the industry.

Some of the leading companies offering pea protein products include Glanbia Plc., Roquette Frères, Cargill Inc., Kerry Group PLC, DuPont De Nemours Inc., The Scoular Company, Puris Proteins LLC, Burcon NutraScience Corporation, Cosucra Groupe Warcoing S.A., Bata Food, Shandong Jianyuan Group, Axiom Foods, Inc., The Green Lab LLC and others.

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Edible Nuts Market Growth Trends, Key Players, Competitive Strategies and Forecasts to 2031

Consumers are increasingly inclining towards healthy and nutrient-rich food items to stay fit and stave off the risk of various diseases. Future Market Insights (FMI), in a new study finds this to be one of the chief drivers of the edible nuts market, which is forecast to surpass US$ 20.28 Bn by 2021. Growth will therefore be driven by consumers selecting snacks that are high in nutritive values.

Among different types of edible nuts, whole nuts are most famous due to their application in confectionery, bakery products, and other desserts. Edible nuts are also multi-nutritional ingredients consumed widely as snacks by consumers going to the gym and focused on body building. These factors are contributing to the rising number of food dishes made with edible nuts as an ingredient in the food service industry.

Digitalization has enabled rapid growth across diverse industries. With the rising usage of the internet besides the easiness of online transactions, many edible nuts manufacturers are choosing online platform for the promotion and selling of their products. Moreover, the majority of consumers prefer buying from online channels, which is encouraging manufacturers to mark their presence on these platforms. Other platforms have also emerged over recent periods like specialty stores and food service platforms.

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Key Takeaways from the Edible Nuts Market Study

Exhibiting Y-o-Y growth at nearly 6.9% in 2021, the edible nuts market will continue exhibiting strong growth through the forecast period
The U.S. has emerged as a key pocket for sales, accounting for over 88% of the North America market based on value in 2021
The demand from the U.K. will continue rising at a high pace. The U.K. is expected to register 10.8% Y-o-Y growth in 2021
Germany and France will remain other key markets for sale of edible nuts in the Europe
Japan and South Korea will emerge as bright spots for sale in East Asia

Who is winning?

Several leading manufacturers are concentrating on providing edible nuts at an optimum price, owing to their increasing demand among consumers. Different companies have implemented integrated production approach to delivering cost-effective products in the market to escalate their industry footprints and to upsurge their production capacity. Prominent players of edible nuts are endowing in research and development to produce organic, non-GMO products from edible nuts.

Various hotel chains and restaurants are also partnering directly with growers of edible nuts for sourcing of high-quality edible nuts to be used in their dishes.

A few of the leading players operating in the edible nuts market Sun-Maid Growers of California, Hines Nut Company, John B. Sanfilippo & Son, are Archer Daniels Midland Company, Mariani Nut Company, Select Harvests Limited, Olam International Ltd, Durak Findik, Grower Direct Nut Co. Ltd, Borges Agricultural & Industrial Nuts, The Wonderful Company LLC, Germack Pistachio Company, Diamond Foods, Inc., Blue Diamond Growers, Nichols Farms, Keenan Farms and other players.

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Fluoropolymer Market Competitive Growth Strategies Based on Type, Applications, End User and Region

The global fluoropolymer market is anticipated to witness significant growth during the assessment period, starting from 2021 to 2031. Fluoropolymer plays a crucial role in several end-use industries including automotive, industrial processing & appliances, healthcare, electrical & electronics, construction and others. Industrial processing & application and electrical & electronics are driving the market growth.

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In the latest edition of the study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors fuelling the demand for Fluoropolymer. The report tracks the global sales of Fluoropolymer in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the rubber, plastics, automotive and construction in general, and Fluoropolymer in particular.

How the Historical and Future Outlook for Fluoropolymer Market will Match Up?

Fluoropolymer consumption is projected to grow by 1.7X during the forecast period. End-use segments are growing at a considerable rate since last few years, which is expected to experience significant growth in the near future.

In terms of regional classification of the market, East Asia and Europe are estimated to dominate at a global level and are expected to continue their dominance in the long run. The increasing consumption of fluoropolymer in the regions owing to rapidly increasing industrial infrastructure and favorable government initiatives will aid the overall expansion. Furthermore, increasing investments by regional governments for industrial development is expected to be one of the key driving factor for the global fluoropolymer market over the coming years.

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Leading manufacturers are expanding their production capacities to satisfy the demand created by end users. Leading manufacturers of fluoropolymer are strategically collaborating with end users especially industrial processing application for ensure long-term supply. According to FMI’s analysis, fluoropolymer sales to grow at 5.3% % CAGR between 2021 and 2031.

Fluoropolymer are used in pump, impellers, coating for heat exchangers, tanks, reaction vessels, autoclaves, container, flue duct expansion joints, diaphragms and among others for various end use application owing to its excellent mechanical properties, chemical resistance properties it preference over other polymers gain traction in the market.

The ongoing crisis on account of COVID-19 outbreak has impacted the global economy and industrial sector to a significant extent due to the disruption in the supply chain and reduce demand from the consumers. The same case has remain true for the case of Fluoropolymer, wherein reduce demand from many end use industries like automotive, has impacted the growth rate of the global Fluoropolymer market to a certain extent in the year 2020.

However, with initiatives taken by regional governments to revive the economic growth and to improve the performance of the industrial sector, will have a positive effect on the fluoropolymer sales prospects.

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Competitive Landscape

Introduction of new and innovative products, solutions and technologies for end-use industries, are expected to remain key focus of market players as they aim to gain competitive advantage. Tier-I companies are planning to venture into collaboration and acquisitions of accompanying businesses to further increase market presence. Companies operating in the market have been focusing on strategic tie-ups and product development to gain competitive advantage. Besides this, capacity expansion have been attracting ample resources of competitors.

For instance, in 2019, Dongyue Polymer announced its plans of launching a 20,000t fluoropolymer project to be located in Huantai County, Zibo City.

Some of the leading companies operating in the market are:

Mitsubishi Chemical Advanced Materials
AGC Chemicals Americas, Inc.
The Chemour Company
Honeywell International Inc.
Huntsman Corporation
Daikin Industries Limited
Dongyue Group Ltd.
Kureha Corporation
Poly Fluoro Ltd.
Amco Polymers
Solvay SA
Saint-Gobain Performance Plastics