Market Research Blog – Page 1551 – New Product Development

Dairy Enzymes Market to Reach USD 1,812.8 Million by 2033, Driven by Health-Conscious Consumer Trends

The dairy enzymes market size is projected to be valued at US$ 877.5 million in 2023 and is expected to rise to US$ 1,812.8 million by 2033. The sales of dairy enzymes are expected to grow at a significant CAGR of 7.4% during the forecast period.

Westernization, growing urbanization, rising demand for lactose-free dairy products among developing-economy consumers, and surging lactose intolerance among the population are some of the market growth determinants.

Rising availability and popularity of various types of flavored dairy products, improved distribution channels, high degree of investment into the market combined with a changing consumer tastes and preferences is likely to spur market’s growth.

However, the negative health effects associated with high consumption, such as allergic reactions can possibly pose a significant challenge to the market’s growth.

Consumers’ progressive inclination towards digestive wellness products has experienced a drastic shift in the decade, and probiotic food products have remained a requisite.

According to the ITC Trade Map, the imported volume of yoghurt in the United Kingdom in 2021 is expected to be around 282980 tons, up from 219085 tons in 2019.

The increased number of fast-food chains and food and beverage MNCs, the high youth population and the introduction of improved methods of producing inexpensive rennet are all driving market growth.

Recent advancements in food enzyme discovery technology, such as extracting microbial sources for the dairy market, are expected to spur business growth.

Key Takeaways from the Dairy Enzymes Market

According to FMI’s projections, North America is going to be a significant revenue contributor to the global dairy enzymes market through 2033, growing at a value CAGR of around 7.0% due to factors such as an increasing number of people suffering from lactose intolerance and an increase in digestive disorders, the region presents enormous opportunities for market participants.
When compared to other sources of dairy enzymes, the animal & microorganism segment is estimated to account for the major share. FMI forecasts a 55.23% market share for this segment over the forecast period because of the simpler extraction process. Furthermore, conducting R&D on microorganisms is easier and more affordable than using plant-sourced dairy enzymes.
Japan is a center of research and development for a variety of food enzymes, including dairy enzymes. The revenue is expected to rise soon. During the forecasted period, it is expected to contribute nearly 3.3% CAGR.
By 2030, the dairy enzymes market from the whey protein application segment is expected to be worth more than $100 million. Dairy enzymes, such as protease, primarily work to cleave the peptide bonds of various proteins, resulting in smaller, more easily digestible pieces that propels whey protein uptake, resulting in a significant increase in demand for dairy enzymes.

Competitive Landscape

SternEnzym, Novozymes, Kerry Group, DSM, Dow DuPont, Danisco A/S, Biocatalysts, Amano Enzyme, Advanced Enzymes Technologies, and CHR. Hansen are prominent players in this sector. In September 2021, Novozymes launched five powerful biological solutions to address key challenges for North American farmers seeking to improve yield and fertility while increasing biocontrol application.

Latest Developments

Nurica, a dairy enzyme that naturally harnesses the lactose present in milk in the United States, was launched in June 2021 by International Flavors & Fragrances, Inc. The enzyme aids in the natural production of a higher yield of prebiotic galacto-oligosaccharides (GOS) fibres, which aid in the management of lactose intolerance and the optimization of fibre intake.
Biocatalysts Ltd. announced the release of a new dairy enzyme, PromodTM 517MDP (P517MDP), in April 2021, in order to expand its Kosher and Halal certified dairy protein enzymes.
International Flavors & Fragrances, Inc. announced the launch of Enovera 3001 enzyme as the newest addition to its bakery industry ingredients range in March 2021. The new enzyme provides a label-friendly formulation for strengthening bakery dough without sacrificing texture or taste.

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Key Segments Covered in the Dairy Enzymes Market Report

By Product:

Carbohydrate Dairy Enzymes
Protease Dairy Enzymes
Polymerase & Nuclease Dairy Enzymes
Lipase Dairy Enzymes
Phytase Dairy Enzymes
Other Dairy Enzymes

By Source:

Plant-Based
Animal and Micro-organisms based

By Application:

Dairy Enzymes for Milk
Dairy Enzymes for Cheese
Dairy Enzymes for Ice Creams & Desserts
Dairy Enzymes for Yogurt
Dairy Enzymes for Whey
Dairy Enzymes for Infant formula
Dairy Enzymes for Other Applications

By Distribution Channel:

E-Commerce
Speciality Retailers
Supermarket/Hypermarket
Others

By Region

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Japan
Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Plant-Based Cheese Market to Reach USD 9.7 Billion by 2034, Fueled by Sustainability and Health Trends

The plant-based cheese market is predicted to be valued at US$ 3,068 million in 2024. The market for plant-based cheese is expected to grow at a compound annual growth rate (CAGR) of 12.2% between 2024 and 2034 to reach a value of US$ 9,658 million. This expansion is due to consumers seeking cruelty-free, environmentally friendly, and sustainably produced substitutes for conventional dairy products. It also reflects a trend toward a plant-based diet, as seen by the various product offers, exquisite flavor, and health-conscious consumer base.

It is projected that shifting consumption habits, increased interest in plant-based dairy products, a surplus of capital, and expanding acceptance of Western lifestyles drive the plant-based cheese industry. The food service industry has also made a substantial contribution to the growth of the vegan cheese industry by labeling its goods with vegan cheese and serving vegan cheese-based appetizers. People who are allergic to dairy products or lactose intolerant are increasingly choosing plant-based cheese.

Concerns about animal welfare, the growth in vegans, and the adoption of plant-based goods by those who are allergic to dairy all contribute to the global trend of replacing dairy products with plant-based alternatives.

Vegan cheese has a lower fat content than dairy cheese but offers equivalent vitamins, proteins, and carbohydrates. Eating vegan cuisine has been shown to improve health. The millennial is creating creative ways to use artisanal vegan cheese, which is becoming increasingly common in fast food, hotels, cafés, and restaurants to serve a huge crowd.

The rise in popularity of plant-based diets and veganism is causing rapid changes in the food business. With the increasing availability of vegan cheese, ‘clean’ labeling is becoming increasingly popular. It comprises plant-based starch and oil (derived from nuts), cheese replacements, and fermented cheese. The global plant-based cheese market is expected to grow significantly due to consumers’ increasing adoption of health-conscious dietary habits.

As people become more aware of the benefits of plant-based diets, there is a growing demand for cheese alternatives made from plant-based ingredients. This trend is likely to continue in the coming years, driven by factors such as rising awareness about the environmental impact of animal agriculture and concerns about animal welfare. As a result, the plant-based cheese market is poised for strong growth, offering new opportunities for manufacturers and suppliers in the food industry.

“Demand for plant-based cheese substitutes is rising due to growing benefits and awareness of plant-based diets. Concerns about animal welfare and the negative environmental effects of animal agriculture are fueling the trend of consuming vegan products. Consequently, the market for plant-based cheese is anticipated to rise rapidly, presenting novel prospects for food industry suppliers and manufacturers.” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Takeaways from the Plant-based Cheese Market

The soy milk-based cheese segment is set to capture a significant 38.2% share of the plant-based cheese industry in 2024.
The B2C distribution channel is projected to dominate with an 83.8% market share in 2024.
The United States plant-based cheese industry is expected to experience a CAGR of 8.2% through 2034.
Germany plant-based cheese market is expected to demonstrate a remarkable CAGR of 10.2% through 2034.
The United Kingdom plant-based cheese industry is anticipated to see a CAGR of 8.7% through 2034.
India plant-based cheese industry showcases a healthy CAGR of 8.4% through 2034.
China plant-based cheese market is expected to display an average CAGR of 3.3% through 2034.

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Competitive Landscape

The market for plant-based cheese is extremely competitive, with businesses striving for supremacy through various tactics like pricing plans, advertising campaigns, research and development, and the creation of new products. The fragmented vegan cheese market heavily emphasizes competitive forces and strategic decision-making. Competitors substantially engage in research and development to provide cutting-edge, cruelty-free dairy products to keep ahead.

Organizations strive to enhance their market share and operational efficiency by forming strategic alliances, partnerships, and collaborations. Manufacturers of plant-based dairy products employ a range of marketing strategies, such as collaborations and the introduction of new products, to grow their clientele and get a competitive advantage. Companies may preserve their leadership positions in the industry and remain ahead of their peers by continuously inventing and creating novel ways to interact with their target consumer base.

Recent Developments in the Plant-based Cheese Market

In January 2024, South Korean food technology company Armored Fresh developed a range of plant-based almond products that replicate the taste and texture of dairy cheese while providing essential nutrients and high protein content, potentially revolutionizing the food industry.
In January 2024, The American company The Laughing Cow launched a new range of plant-based spreadable cheese products in response to the growing demand for dairy-free alternatives. These innovative spreads give consumers a guilt-free option for snacking and spreading their favorite foods.

Key Segments

By Source:

Oat Milk
Rice Milk
Corn Milk
Soy-Milk
Pea Milk
Almond Milk
Coconut Milk
Cashew Milk
Flax Milk
Hemp Milk
Other

By Distribution Channel:

B2B
- Hotels
- Restaurants
- Cafes
B2C
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Mom and Pop Stores
- Discount Stores
- Food & Drink Specialty Stores
- Independent Small Groceries
- Online Retail
- Others

By Region:

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

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

About Future Market Insights (FMI)

Plant-Based Sausages Market to Surge to USD 12.9 Billion by 2033, Driven by Health Consciousness

In 2023, the plant-based sausages market is anticipated to be worth US$ 1,228.1 million. By 2033, the market is projected to be worth $12,936.9 million. Throughout the forecast period, the market is anticipated to have a CAGR of 26.5%.

How Does Popularity of Plant-based Sausages Propel the Market Size?

The popularity of plant-based sausages is growing due to several factors in the global market, including:

- Increased consumer demand:More and more consumers are looking for plant-based alternatives to meat products due to health, environmental, and ethical concerns.
- Product innovation:Plant-based sausage manufacturers have been developing new products that more closely mimic the taste and texture of traditional meat-based sausages. It has made plant-based sausages more appealing to consumers looking for alternatives to meat products.
- Widening availability:Plant-based sausages are now available in various supermarkets, restaurants, and other food service establishments. This increased availability has made it easier for consumers to find and try plant-based sausages.
- Support from retailers and food service providers:Many retailers and food service providers now offer plant-based sausages on their menus and stores. This support has helped to increase awareness of plant-based sausages and has made them more accessible to consumers.
- Rising investments:Venture capitalists, food businesses, and other investors are increasingly investing in the plant-based meat sector. The industry’s growth and innovation are being fueled by this investment.

Manufacturers Bring Lucrative Opportunities in the Global Market

There are Several Opportunities in the Plant-Based Sausages Market, Including:

Expansion in new markets:Manufacturers of plant-based sausages can expand their businesses by establishing new markets, such as new regions, retail channels, or food service industries.
Product innovation:There is a significant opportunity for innovation in the plant-based sausage market, including developing new flavors, textures, and formats. Manufacturers can also explore new ingredients and production methods to differentiate their products from competitors.
Partnership and collaboration:Plant-based sausage manufacturers can partner with other companies in the food industry, such as restaurants or food service providers, to expand their reach and increase sales.
Health and wellness trends:Consumers are increasingly interested in health and wellness, allowing plant-based sausage manufacturers to develop products that meet this demand, such as low-sodium or low-fat options.
Convenience and portability:Plant-based sausages can be convenient and portable for consumers looking for quick and easy meals. Manufacturers can explore new packaging formats or product configurations to appeal to this market.
Sustainability and environmental concerns:With the growing awareness of environmental issues, plant-based sausage manufacturers can highlight their products’ sustainable and environmentally-friendly aspects to attract consumers concerned about their food choice’s impact.

Key Takeaways:

The plant-based sausages market is expected to reach a valuation of US$ 12,936.9 million by 2033.
With a CAGR of 26.5%, the global market is increasing during the forecast period.
The United States plant-based sausages market is anticipated to record a CAGR of 3% through 2033.
Historically, the market secured a CAGR of 6% between 2018 and 2022.

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Competitive Background:

In the market, there are very limited key companies. The players innovate several unique and innovative products as per consumers’ requirements. However, these essential players upsurge the market by investing their capital in research & development activities. These players adopt a few marketing strategies: mergers, collaborations, partnerships, and acquisitions.

Other Prominent Players in the Market are:

Beyond Meat
Impossible Foods
Tofurky
Lightlife Foods
Field Roast
The Vegetarian Butcher
MorningStar Farms
Gardein
Amy’s Kitchen
Nestlé S.A.
Kellogg Company
Conagra Brands
Maple Leaf Foods
The Meatless Farm Co.
Moving Mountains
Quorn Foods
Fry’s Family Foods
Yves Veggie Cuisine
Alpha Foods
No Evil Foods

Recent Developments in the Market are:

Beyond Meat: Beyond Meat is a leading plant-based meat company offering various products, including plant-based sausages. In 2021, Beyond Meat launched its new Beyond Breakfast Sausage Links, designed to taste and look like traditional pork breakfast sausages.
Impossible Foods:Impossible Foods is another leading plant-based meat company that offers a range of products, including plant-based sausages. In 2021, Impossible Foods launched its new Impossible Sausage Made from Plants, designed to taste and look like traditional pork sausage.
Nestle: Nestle is a multinational food and beverage company offering plant-based meat products, including plant-based sausages. In 2021, Nestle announced that it was launching a new range of plant-based sausages under its Garden Gourmet brand in Europe.
Tofurky:Tofurky is a company that specializes in plant-based meat alternatives, including plant-based sausages. In 2021, Tofurky launched a new line of plant-based sausages called DIY Sausages, which allows consumers to create their sausages using the company’s plant-based sausage mix.

Field Roast: Field Roast is a company that specializes in plant-based meat alternatives, including plant-based sausages. In 2021, Field Roast launched a new line of plant-based sausages called Signature Stadium Dogs, designed to taste and look like traditional hot dogs.

Plant-based Sausages Market by Category

By Product Type:

Plant-based Chicken
Plant-based Beef
Plant-based Pork

By Source:

Soy-based Protein
Wheat-based Protein
Pea-based Protein
Canola-based Protein
Fava-bean Based Protein- {Potato-based Protein, Rice-based Protein}
Lentil-based Protein
Flax-based Protein
Chia-based Protein
Corn-based Protein

By Distribution Channel:

Retail- {Hypermarkets/Supermarkets, Convenience Stores, Specialty Food Stores, Online Retail}
HoReCA

By Region:

North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East & Africa (MEA)

About Future Market Insights (FMI)

Vegan Protein Bars Market to Reach USD 3.97 Billion by 2033, Driven by Rising Vegan Consumption

The vegan protein bars market is expected to reach US$ 757.5 million by 2023. According to Future Market Insights’ estimates, the market is likely to generate US$ 3.965.7 million between 2023 and 2033, representing a compound annual growth rate of 18%.

The popularity of vegetarian and plant-based diets has increased over the past decade. Several factors have influenced these dietary changes, including concerns for animal welfare, environmental sustainability, and personal health. A growing number of consumers are turning to plant-based options, which is driving the demand for vegan protein bars.

Consumers are increasingly seeking nutritious and functional foods, which has led to substantial growth in the health and wellness industry. For those looking to maintain an active lifestyle or support their fitness goals, vegan protein bars can provide a convenient and healthy snack option.

Sustainable food choices are becoming more popular among consumers, who are becoming aware of how their food choices impact the environment. Protein bars made from plant-based ingredients usually have a lower carbon footprint than those made from animal proteins. Customers who are environmentally conscious may be attracted to this eco-friendly aspect of the product.

Key Takeaways from the Market Study

Based on the report, the vegan protein bars market exhibited a positive growth trajectory of 3.1% between 2018 and 2022.
The growing awareness about the benefits of soy has been a catalyst for the growth of soy-based vegan protein bars in the market. It is estimated that the market will possess a market share of 34.70% during the forecast period.
In the coming years, vegan protein bars are expected to capture 23.5% of the market share in the United States.
Health and wellness have experienced a significant growth rate in recent years, with a market share expected to reach 25.10% by 2033.
Over the period of 2023 to 2033, the Indian market is estimated to hold a market share of 17.4%.
According to forecasts, German vegan protein bars will hold 14.5% of the market share.
Conventional vegan protein bars is expected to hold 87.70% of the market share

Competitive Landscape

Globally, national and international companies primarily produce vegan protein bars. Manufacturers of food and beverages offer a wide selection of protein bars to satisfy consumers’ diverse tastes and appetites. The company offers vegan protein bars, organics, and natural food products to meet the needs of vegan food manufacturers. As well as producing vegan protein bars, producers run smaller operations and export many products.

In May 2023, Beyond vegan shakes, Malaysian brand Metier Food tantalises with new dairy-free protein bars and tempeh chips. Heal Breakfast Protein Bars are among the new products offered by Metier Food’s flagship Heal Nutrition brand. Chocolate Crunch and Fruity Raspberry protein bars are dairy-free and lactose-free.
In July 2023, MadeGood introduced Blueberry, Chocolate Chip, and Cinnamon Bun MadeGood Mornings Soft Baked Oat Bars, the company’s first breakfast product. They are all vegan and gluten-free, free of common allergens, and made from organic and non-GMO ingredients.

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Know More about What the vegan protein bars Market Report Covers

Future Market Insights offers an unbiased analysis of the global vegan protein bars market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the vegan protein bars market, the market is segmented based on nature, flavor, ingredient, and distribution channel industry type across seven major regions.

Vegan Protein Bars Market Segmentation

By Nature:

Organic
Conventional

By Flavor:

Chocolate-Vanilla
Chocolate-Caramel
Peanut Butter
Cherry Cashew
Fruit & Nut
Hazelnuts
Others

By Ingredient Type:

Soy
Pea
Nuts
Hemp
Others

By Distribution Channel:

Convenience Stores
Hypermarkets/Supermarkets
Traditional Grocery Stores
Drug Stores & Pharmacies
Health & Wellness Stores
Online Retailing

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia & Pacific
East Asia
Middle East & Africa

About Future Market Insights (FMI)

Vegan Marshmallows Market to Reach USD 172.6 Million by 2033, Driven by Rising Vegan Population and Innovative Flavors

In 2023, demand for vegan marshmallows are expected to have a net market share worth of $74.6 Mn, but by 2033, it is predicted to rise to over US$ 172.6 Mn. The growing vegan population around the world is driving demand for vegan marshmallows to grow by 9.8% between 2023 and 2033. Concerns about animal welfare will also contribute to a rise in demand for vegan marshmallows.

As a response to the growing demand for clean-label certifications across prominent regions, plant-based marshmallow manufacturers are introducing vegan marshmallows with unique flavour combinations. In the coming years, the global vegan marshmallow market is expected to grow due to the rising consumption of vegan food products.

The growth of the vegan marshmallow market worldwide is attributed to the fact that marshmallows are vegan and can serve as excellent substitutes for milk-based desserts. As environmental concerns over meat consumption gain prominence, consumers are increasingly turning to flexitarian diets.

Key Takeaways from the Vegan Marshmallows Market Study

Global vegan marshmallows market to grow at a CAGR of 9.8%.8% between 2023 and 2033
Peppermint and vanilla are the most popular flavors
North America remains the dominant vegan marshmallows market.
A market size of US$ 6 million is expected for vegan marshmallows in the United Kingdom in 2023, exceeding its market share by 11.4%.

Competitive Landscape for the Vegan Marshmallows Market

In response to the growing demand for clean-label certifications across prominent regions, leading vegan product manufacturers are flooding regional markets with innovative flavors, driving the global vegan marshmallows market.

Plant-based marshmallow manufacturers are introducing vegan marshmallows with creative flavour combinations in response to the increasing demand for clean-label certifications across prominent regions. Due to the rising consumption of vegan food products, the global vegan marshmallow market is expected to grow in the coming years.

Freedom Confectionery, Chicago Vegan Foods, Mr. Mallo Group, The Naked Marshmallow Co., Ananda Foods Ltd., and The Marshmallowist the market is growing and establishing a strong global presence.

Recent Developments in the Vegan Marshmallows Market

In April 2020, Media Sauce Ltd.’s vegan marshmallow specialist Freedom Confectionery will launch the first-to-market concept, vegan marshmallow bars dipped in vegan chocolate.
In February 2020, PEEPS, a brand name for “Just Born, Inc.” introduced flavored candies made with marshmallows in a collaboration with Kellogg’s, a U.S. company.
In September 2020, Freedom Confectionery introduced the vegan marshmallow bar Mallow Out, which is coated in vegan chocolate. A twin-pack format featuring vanilla and strawberry mallows is also on the way. Pusheen the Cat has teamed up with the company to manufacture chocolate-coated gummies.
Mallo Group was able to increase revenue and growth by expanding its product portfolio to include sugar-free, vegan, bio, Kosher, and Halal products through its acquisition of Belgian confectionery giant Mellow Party in 2017.
In February 2016, a variety of sour marshmallow clouds were introduced by Bonds confectionery including strawberry, lemon, cherry cola, and more.
The U.S. version of Stuffed Puffs LLC’s chocolate-stuffed marshmallow launched in April 2020.

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Vegan Marshmallows Market Segmentation by Category

By Ingredient:

Vanilla
Pumpkin
Peppermint
Chocolate
Others

By Distribution Channel:

Hypermarkets/Supermarkets
Convenience Store
Drug Stores & Pharmacies
Health & Wellness Stores
Online Retailing
Other Retailers

By Region:

North America
Latin America
Europe
The Middle East and Africa
East Asia

About Future Market Insights (FMI)

Global Lactose Market to Reach USD 4.17 Billion by 2033, Fueled by Growing Demand Across Sectors

As of 2022, the worldwide sales of lactose market was worth US$ 2,312.5 million. The market is anticipated to expand at a CAGR of 6% from 2023 to 2033, reaching a total of approximately US$ 4,169.8 million by 2033 due to the ongoing consumer movement towards lactose products.

This kind of sugar in lactose may benefit diabetics due to its low glycemic index. Lactose makes it easier for the gut flora to be balanced. It encourages the growth of the beneficial gut bacteria lactobacilli and bifidobacteria. Furthermore, it guards against potentially hazardous microorganisms that cause intestinal infections. Thus, these advantages are anticipated to increase the demand for lactose in the upcoming years.

The market’s growth is mostly a result of the rapidly rising demand for lactose in several industries all over the world. As of 2022, for instance, the demand from customers for lactose has increased significantly over the previous 10 years, and the industry as a whole has expanded along with it, particularly in North America as well as Europe. The anticipated total production, with a growing trend, is 510 000 tonnes. Another notable factor that is predicted to have a considerable impact on the lactose market’s growth over the course of the forecast time frame is the pharmaceutical industry’s quick expansion.

It provides the body with a consistent supply of energy because of its sluggish hydrolysis. Additionally, it encourages the formation of beneficial bacteria like bifidobacteria as well as lactobacilli, which helps to a healthy intestinal ecology and the digestion of minerals like magnesium, calcium, and zinc. Because of these improvements, revenues increased over the anticipated period.

Key Takeaways from the Market Study

Global lactose market is expected to be valued at US$ 2,921 million by 2023
From 2018 to 2022, the market demand expanded at a CAGR of 3.3%
North America is expected to hold the highest market share, with the United States accounting for 32% of revenue
By end-use type, the pharmaceuticals segment is expected to constitute a 46% market share in 2023.
On the basis of derivative type, the lactulose segment is expected a 26% share in 2023.
From 2023 to 2033, lactose market services are expected to flourish at a CAGR of 6%.

“Owing to the varied benefits of lactose and the demand for powder milk for infant powder is accelerating the demand in the global lactose market.” remarks an FMI analyst.

Competitive Landscape

The key players in this market include BASF SE, Davisco Foods International Inc., Armor Pharma, Hilmar Ingredients, Hoogwegt Group B.V., Kerry Group Plc., Lactose India Limited, Merck & Co. KgAa, Milei GmbH and Ba’emek Advanced Technologies Ltd. among others.

Recent Developments:

The B2B powdered cheese company and its related assets are being purchased by Kerry Group plc from Kraft Heinz for US$ 107.5 million. Kerry anticipates growing its client base, manufacturing capacity, and scale in the snacking market as a consequence of this transaction.
The first-ever electric milk truck in New Zealand, the Milk-E, has been welcomed by Fonterra Co-operative Group Limited. One of several initiatives helping the Co-op’s aspirations to become a sustainability leader via fleet decarbonization is Fonterra’s Milk-E program.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global lactose market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the lactose market, the market is segmented on the basis of lactose market by form (granule and powder), by end use (food and beverage, pharmaceutical and animal feed), by derivative type (lactose monohydrate, galactose, lactulose, lactitol, other), and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

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Pet Dietary Supplement Market to Double to USD 8.29 Billion by 2033 | FMI

The pet dietary supplement market is predicted to be valued at US$ 4,269.1 million in 2023 and US$ 8,288.4 million by 2033. Over the projection period, the pet dietary supplement market is expected to surge at a CAGR of 7.3%. Pet owners are increasingly seeking tailor-made dietary supplements for their furry companions. Companies utilize advanced technologies and data analytics to create personalized supplement plans catering to each pet’s needs and health conditions.

As the stigma surrounding CBD and hemp products diminishes, these natural alternatives are gaining traction in pet supplements. Pet owners are exploring the potential therapeutic benefits of these substances, leading to a surge in product offerings in this category. An emerging driver is the emphasis on eco-conscious choices in the packaging of pet dietary supplements. Consumers are looking for brands that prioritize sustainable materials and environmentally friendly practices, thus influencing their purchasing decisions.

Companies are increasingly cutting out the intermediary and selling directly to consumers online. This trend simplifies accessibility and allows pet owners to interact directly with brands, fostering trust and loyalty. Veterinarians are playing a pivotal role in educating pet owners about dietary supplements. Their endorsements and recommendations carry significant weight, leading to increased awareness and sales of these products.

Key Takeaways from the Pet Dietary Supplement Market:

The pet dietary supplement market in the United States will likely hold a 24.9% market share in 2023.
The United Kingdom is poised for a 5.0% CAGR by 2033.
China is at the forefront, anticipating an 11.3% CAGR surge by 2033.
The glucosamine segment to hold a market share of 5.20% through 2023.
FMI predicts the joint health segment to hold a market share of 5.90% through 2023.

“The pet dietary supplement market is poised for exponential growth, driven by increasing pet owner awareness of holistic pet health and the demand for premium, natural products.” Says Nandini Roy Choudhury, Client Partner at Future Market Insights

How Key Players are Revolutionizing the Pet Dietary Supplement Market?

Key players drive a transformative revolution in the ever-evolving pet dietary supplement market. These industry leaders recognize the growing demand for pet health and wellness, resulting in a surge of innovation. They invest heavily in research and development, creating products tailored to the specific needs of dogs, cats, and other companion animals. They prioritize natural and organic ingredients, catering to health-conscious pet owners.

E-commerce platforms and personalized subscription services have also streamlined accessibility, making it easier for pet owners to find the right supplement. Combining science, consumer preferences, and accessibility, these key players are revolutionizing the pet dietary supplement market, promoting happier, healthier pets.

Product Portfolio

Nestle SA, a global leader in food and beverage, offers an extensive product portfolio catering to diverse tastes and nutritional needs. From beloved confectioneries to wholesome cereals and infant nutrition, Nestle continues to innovate, ensuring quality and sustainability in every bite.
Mars Incorporated tantalizes taste buds with a stellar product range, including iconic brands like Snickers, M&M’s, and Pedigree. Their commitment to quality and a wide range of treats for humans and pets alike ensures everyone finds a reason to smile.
NOW Foods is dedicated to holistic wellness, providing a comprehensive selection of supplements, essential oils, and natural products. Their products are crafted to support a healthier lifestyle, backed by quality and purity, offering vitality one bottle at a time.

More Insights Available

Future Market Insights offers an unbiased analysis of the pet dietary supplement market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the pet dietary supplement market, the report is segmented on the basis of Product Type (Glucosamine, Probiotics, Multivitamins, Omega-3 fatty acids and Others), Application (Joint Health, Digestive Health, Weight Management, Skin and Coat Health, Dental Care and Others), across 7 major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).

Scope of Report:

Attribute	Details
Estimated Market Size in 2023	US$ 4,269.1 million
Projected Market Valuation in 2033	US$ 8,288.4 million
Value-based CAGR 2023 to 2033	7.3	%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	Value in US$ million
Key Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia The Middle East & Africa
Key Market Segments Covered	Product Type Application Region
Key Countries Profiled	The United States Canada Brazil Mexico Germany The United Kingdom France Spain Italy Russia Poland Czech Republic	Romania India Bangladesh Australia New Zealand China Japan South Korea GCC countries South Africa Israel
Key Companies Profiled	Nestle SA Mars Incorporated NOW Foods Blue Buffalo Co. Ltd. Ark Naturals Virbac	Novotech Nutraceuticals, Inc. Zoetis PetAg, Inc. VetClassics GNC

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Pet Dietary Supplement Market Segmentation:

By Product Type:

Glucosamine
Probiotics
Multivitamins
Omega 3 fatty acids
Others

By Application:

Joint Health
Digestive Health
Weight Management
Skin and Coat Health
Dental Care
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia & Pacific
East Asia
The Middle East & Africa

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Omega-3 Ingredients Market to Hit USD 20.6 Billion by 2033 Despite Regulatory Challenges

Omega-3 ingredients are highly sought after because of how well-liked they are among consumers. Omega-3 ingredient sales reached US$ 7.4 billion in in 2023, rising at a CAGR of 10.8% over the projection period. By 2033, the omega-3 ingredients market is anticipated to bring in US$ 20.6 billion.

Market for Omega-3 Ingredients Growing Consistently

Omega-3 ingredients are quickly taking over the dietary supplement food pyramid. Suppliers are developing tactics that emphasise the preventative role of polyunsaturated fatty acids (PUFAs) in reducing the prevalence of chronic diseases, even as the omega-3 ingredients market continues to profit from the increased consumer knowledge.

Remunerative Opportunities for the Manufacturers

The marketing activities of market participants in omega 3 ingredients are being supplemented by several government programmes to encourage proper intake of omega-3 ingredients.

The omega-3 ingredients market’s demand-side developments continue to be positively influenced by suppliers’ continued focus on ensuring a continuous product supply. The Omega-3 ingredients generated from fish oil continue to dominate market sales, making up about 90% of total sales of omega-3 ingredients.

As the vegan movement continues to spread and consequently fuel the demand for vegan supplements, components derived from plants are set to take centre stage.

Suitable Sources Uphold Supply Efficiency Provides the Manufacturer with Potential

The health and wellness trends have already been embraced by consumers in developed countries, and current trends in relevant consumption behaviours have increased. The outlook for the market for omega 3 ingredients in these economies is still positive as public awareness of their health benefits, including the inclusion of PUFAs in a regular diet, increases.

North American Outlook

The omega-3 ingredients market with the largest revenue share was dominated by North America. This is due to the existence of well-known producers of pharmaceuticals based on omega 3. The presence of significant pharmaceutical businesses in this area fuels demand.

The market in North America is anticipated to rise as a result of rising omega-3 intake in the pharmaceutical industry and expanding research and development efforts on the product.

Asia Pacific Outlook

The Asia-Pacific region places unmatched priority on omega-3 in baby nutrition, which has resulted in a huge market for omega-3 ingredients. The Asia-Pacific market is being driven by the rising demand for baby nutrition, which is being backed up by the benefits it offers to pre- and post-natal health.

The capacity of the product to support long-term health along with the growing significance of omega 3 DHA for the development of the baby nervous system, vision, and brain are predicted to propel market expansion for omega-3 ingredients in the next years.

Key Takeaways

Eicosapentaenoic Acid may experience growth in the ingredient category for the omega-3 ingredients market at a CAGR of 10.4% throughout the projection period.
Dietary Supplements may expand in the market’s application category with a CAGR of 9.8% over the forecast period.
The U.S. market is expected to expand at a CAGR of 9.8% and reach US$ 3,7 Bn.
During the anticipated period, the Brazil market is expected to expand at a CAGR of 11.8% and reach US$ 1.1 Bn.
The Chinese market is anticipated to increase at a CAGR of 15% and reach US$ 2.2 Bn during the anticipated time period.
The Japan market for omega-3 ingredient is projected to expand with a CAGR of 9.0% and achieve US$ 1.2 Bn during the forecasted period.
The market in South Korea is anticipated to grow at a CAGR of 9.3% and reach US$ 82.9 Mn over the anticipated timeframe.

Competitive Landscape

The omega-3 ingredients market is dominated by a select group of companies, including Archer Daniels Midland Company, BASF SE, Cargill Inc., Koninklijke DSM N.V., and Corbion NV. The impact of strategic alliances, investments, mergers, and acquisitions can be seen most clearly in the market for omega-3 components.

The deployment of new advertising campaigns by businesses like Koninklijke DSM N.V. and BASF SE is expected to have a substantial impact on the segment growth. Additionally, omega-3 fatty acids are becoming more and more important on a global scale.

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Recent Development

GC Rieber VivoMega, a producer of Omega-3 concentrates, declared in October 2021 that it would be enlarging its production facilities and storage tanks to make room for more components in the following years.
AlgaeCytes Limited declared plans to erect its first industrial facility in Dessau, Saxon-Anhalt, Germany, in May 2021. AlgaeCytes Germany GmbH, a subsidiary of the Company, will own and run the factory.
KD Pharma Group unveiled Alga3, a vegan, sustainable omega-3 supplement, in September 2021. Omega-3 concentrates in a variety of forms can be produced thanks to KD Nutra’s cutting-edge technology and production versatility. As a result, the business can adjust the EPA and DHA ratio to meet the demands of each individual customer, and there is an Alga3 plant-based alternative for any kd-pür fish oil.

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Beet Pulp Market to Reach USD 595.3 Million by 2033, Driven by Rising Demand for Nutrient-Rich Animal Feed

The global beet pulp market is expected to be worth $268.30 million in 2022. Changing customer preferences for safer food for livestock will help the market reach a total of US$ 595.3 million by 2033, with a CAGR of 8% from 2023 to 2033.

There are several nutritional advantages to beet pulp for cattle. It helps the many bacteria that live in the horse’s hindgut as beet pulp is a prebiotic. It provides about 1,000 kcals per pound, and thus it can be used to help underweight horses put on weight. Volatile fatty acids, or VFAs, are waste products produced when bacteria digest beet pulp in the hindgut.

These byproducts are ingested and transformed into energy. The amount of glucose or insulin is not increased as a result of this energy, which is gradually released for a more constant supply. Given its high calorie density and beneficial effects on the microbiota, beet pulp is commonly employed as a component in industrial grain concentrates.

North America holds the majority of the worldwide market for beet pulp due to its high production and consumption rates. The adoption of new rules governing employers and manufacturers, together with improvements to health care facilities, will all boost productivity and drive revenues to new heights.

The Asia Pacific region’s beet pulp market is also profitable, and it is expected to develop significantly because to rising demand for active swine feed and dairy feed segments in emerging economies such as India and China. More milk producers are switching from standard bovine feed to a compound feed that is more nutritionally balanced as they realize the full benefits of increased output from nutrient-rich feed, which is driving the market for cow feed to rise fast.

Key Takeaways from the Market Study

The global beet pulp market is expected to be valued at US$ 279 million by 2023
From 2018 to 2022, the market demand expanded at a CAGR of 2.4%
From 2023 to 2033, the United States is projected to account for an 88.4% market share.
The Indian beet pulp market to experience a CAGR of 8.1% from 2023 to 2033
By product type, the dried beet pulp was estimated to acquire more than 40% share in 2022.
By livestock, the cow segment acquired a market share of 28%.

“Beet pulp helps livestock maintain their weight, and feeding it is a smart method to supply extra calories without introducing a lot of starch or sugar. Benefits as these will propel the global demand during the forecast period.” remarks an FMI analyst.

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Competitive Landscape

Prominent players in the beet pulp market are:

Amalgamated Sugar
Michigan Sugar
Midwest Agri
Tereos
British Sugar
Nordzucker
Ontario Dehy Inc.
American Crystal Sugar
Delta Sugar Company
Nippon Beet Sugar Manufacturing

Some key developments of the leading companies in this market are:

Standlee Smart Beet provides horses with a high calorie fiber source. These beet pulp can be fed to adult horses at a rate ranging from 0.05 to 0.2% of their body weight per day, depending on activity rate. It is advised for underweight animals, performance horses, elderly horses, the horses sensitive to carbs, and pregnant and nursing mares.

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Future Market Insights offers an unbiased analysis of the global beet pulp market providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the beet pulp market, the market is segmented on the basis of beet pulp by product (wet pulp, pressed pulp, dried pulp, ensiled pulp), livestock (cow, horse, sheep, goat, pig, buffaloes, mules, asses), category (molassed, unmolassed), sales channel (modern trade, specialty store, departmental store, convenience store, online retailers) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

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Chocolate Couverture Market Anticipated to Expand at 4% to 5% CAGR by 2032

The Chocolate Couverture Market (Markt für Schokoladenkuvertüre) is witnessing significant growth as the demand for premium chocolate products continues to surge worldwide. Couverture refers to high-quality chocolate with a high cocoa butter content, making it ideal for professional chocolatiers and confectioners. The market is driven by the increasing consumer inclination towards luxury and indulgence, coupled with the rising popularity of artisanal chocolates.

The global market for chocolate couverture is estimated to be close to $7.5 billion by the end of 2022. Chocolate Couverture sales are projected to increase at a CAGR of 4% to 5% during the forecast period 2022-2032. It is estimated that the increasing use of chocolate coatings in hotels, cafes and restaurants for the production of desserts, chocolate-based beverages, ice cream and others will boost demand in the world market.

Chocolate couverture is processed from the cocoa beans which contains an exceptionally high amount of cocoa butter. The specialty of chocolate couverture is attributed to the crystallization characteristics of cocoa butter. Basically, the processing or tempering of chocolate couverture involves a careful selection of crystals of cocoa butter which are inherently in the stable form and preserving them in the chocolate.

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Purists Trend Remolding Chocolate Couverture Market

Lately, a lot of focus is being laid on the provenance of the chocolate products. Hence, chocolate couverture from single-origin such as Ghana and Côte d’Ivoire have gained traction in the chocolate couverture market. Industrial chocolate couverture manufacturers are focusing on strengthening their trade relations with major cocoa producing countries.

The demand from the foodservice sector who are increasingly featuring gourmet and pure chocolate based cuisines is also expected to drive the demand for chocolate couverture. Chocolate couverture decorations have become an essential part of the chefs’ aisle to attract consumers. Chocolate and confection manufacturers are increasingly emboldening the purity of dark chocolate as a part of their branding strategy which has led to a rise in demand for chocolate couverture as opposed to traditional chocolates.

The rise in personalized and theme-based chocolate confection has also paved a way for the growth of the chocolate couverture market. For instance, there has been an increase in demand for 3D printed chocolates which requires a very highs quality chocolate couverture. On the other hand, consumer pull towards health consciousness has caused many consumers to cut down chocolate confection products which may hinder the growth of the chocolate couverture market. This trend has also led to stagnancy in the overall chocolate market.

Chocolate Couverture Market: Regional Analysis

Chocolate couverture manufacturers are focusing on expanding their presence in Asia, especially in regions such as ASEAN and India. Asian consumers’ growing focus on premium and high-quality chocolate coupled with their rising disposable income pave way for Asia to become the next powerhouse in the chocolate couverture market. In Eastern Europe, the chocolate couverture consumption is on the rise in regions such as Turkey and Poland. Turkish confectionery products have witnessed a significant growth in the confectionery market. Asia and Eastern Europe have also witnessed a rise in the number of artisanal chocolatiers, leading to an increase in demand for chocolate couverture.

Chocolate Couverture Market: Key Participants

Some of the market participants in the chocolate couverture market are:

Barry Calbaut AG
The Margaret River Fudge Factory
Struben Couverture Chocolate Factory
Cocoa Processing Company Limited (CPC)
Von Geusau
Chocolats Marionnettes
Fardoulis Chocolates
Max Felchlin AG
ICAM
Chocolate Trading Company Ltd

The research report presents a comprehensive assessment of the Chocolate Couverture market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as product type, application, and end use.

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Chocolate Couverture Market Segmentation

The chocolate couverture market is segmented into type, nature, and end use and sales channel.

On the basis of form, the chocolate couverture market is segmented into-

Buttons/discs
Slabs
Blocks

On the basis of type, the chocolate couverture market is segmented into-

Dark
Milk

On the basis of nature, the chocolate couverture market is segmented into-

Organic
Conventional

On the basis of end use, the chocolate couverture market is segmented into-

Industrial/Food and Beverage Processing
Baked Goods
Confectioneries
Chocolate Confectioneries
Sugar Confectioneries
Ice Cream and Frozen Desserts
Beverages
Bakeries and Pastry Shops
Confectionery Shops
Restaurants and Hotels
Household (Retail)

On the basis of sales channel, the chocolate couverture market is segmented into-

Direct Sales/B2B
Indirect Sales/B2C
Intermediate/Bulk Distributors
Brick & Mortar Retailers
Online Retailers

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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