Contract Lifecycle Management Market – Sailing Towards Efficient and Automated Contract Management Processes

‘Smart Contracts’ to Gain Momentum as Software Companies Lean Towards Novel Technologies

In the past few years, automated technologies have played a pivotal role in shaping the current landscape of several industrial sectors. At present, automated technologies are an integral component of law firms and legal teams worldwide. One aspect that has experienced notable adoption and progress is legal contract lifecycle management. The surge in adoption of advanced contract lifecycle management processes is primarily boosted by demand for transparency and efficiency by clients from legal teams. In addition, regardless of the type of business, organizations get into several contracts on a regular basis. The nature of the contract could vary from binding suppliers and purchasers to creating legal bonds with other parties. Thus, it is essential for companies to implement contract lifecycle technology to achieve efficiency in contract management and upgrade the outdated processes. The growing adoption of technology including Artificial Intelligence (AI) in contract lifecycle management solutions is likely to mold the future landscape of the contract lifecycle management market.

Many global companies are spread across different industry verticals and different regions of the world. These companies have to comply with different set of rules and regulations for different regions. The contract lifecycle management market is witnessing incremental growth, as companies are coming up with better solutions, which helps them to comply with all the latest compliance and regulatory guidelines in case of any updates or changes in industry regulations.

One of the key developments in the contract lifecycle management landscape reflect a rise in usage of cloud based contract lifecycle management solutions. Improved security, unlimited data storage and access to this stored data from anywhere is showing a remarkable growth in the contract lifecycle management market.

Cloud based contract lifecycle management solutions are expected to hold almost 70% of the market share by 2029, and these solutions are gaining popularity by helping users to outline fast growing company’s rules and policies. Thus the cloud based software solutions are anticipated to trigger the growth of the contract lifecycle management market.

Many companies deal in hundreds of contracts with different lifecycles, which makes it very difficult to manage all of these manually. Contract lifecycle management software helps to keep all of a firm’s contracts together in a single electronic repository. This contract lifecycle management software repository gives contract managers direct access to the contracts they need to manage. This repository also ensures compliance with governance and audit requirements. Moreover, this contract lifecycle management software supplies data from the contract to the transaction systems to execute ordering, purchasing, or invoicing transactions accurately, and also supports the risks and obligation entitlements in the contract portfolio. Hence, there is a rise in demand for this software, which drives the growth of the contract lifecycle management market.

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Each region or country has a different set of rules or regulations, which leads to heavy burden of international regulations for compliance teams. This situation can result in some non-compliance and manual errors, or result in some regulations getting overlooked. Contract lifecycle management software helps companies cope up with all the latest rules and compliance in case of any updates or changes in industry regulations. Thus, by using contract lifecycle management software, companies can avoid massive penalties associated with non-compliance. Thus, an increase in the growth of contract lifecycle management market is expected during the forecast period.

Active Participants in the Robotic Gripper Market Seek IoT and AI integration to provide next-generation & innovative products

Since the underlying idea of gripper was presented during 1969 at Stanford University, it has taken huge strides as far as development and becomes a basic part of industrial robots utilized today. At present, the automation trend has immersed a wide scope of industrial spaces globally, as makers are enthused about improving effectiveness, manufacturing, and lessening overall expenses at the same time. In this way, smart advances comprising the Internet of Things (IoT) and Artificial Intelligence (AI) are continuously entering the conflict and assuming a basic job in changing the cutting edge modern environment. Consequently, attributable to fast progress in AI and grasping advances, the need for versatile robotic grippers has flooded at a creditable pace as of late. Makers working in the robotic gripper scenario have altogether expanded their attention on creating cutting-edge and innovative grippers to satisfy the developing need, particularly from the automotive and the semiconductor & electronics sector. Moreover, the beginning of Industry 4.0 will generate lucrative prospects for robot gripper makers in the approaching years.

Foremost Aspects Determining the Robotic Gripper Market

  • End-users demand efficacy, agility, and safety to expand robotic grippers

Robotics technology end-users are ceaselessly centering to expand efficiency, diminish operational expenses, and look after quality. Makers of robotics technology are routinely occupied with r&d exercises to satisfy the needs of end-users. Amid the disparate efficacy, safety, agility, and needs of the robotics technology are huge necessities created from the end-users’ side.

Robotic gripper makers are concentrating on the advancement of grippers by the incorporation of IoT. Likewise, application-explicit advances are being consolidated. For example, the improvement of soft grippers for food generation and processing sector, wherein, fragile yet adaptable treatment of an assortment of food products, could be completed with the equivalent gripper.

  • Alluring industrial robotics scenario offers huge gains for robotic gripper makers

The industrial robotics sector is seeing progressing quick automation all over industrial operations. The infiltration of automation is additionally upheld by the diminishing expenses of robotic technology in recent decades. Robotics assume an imperative job in developing markets as a significant aspect of business productivity. Amid strong market competition, wherein general operational productivity and generation yield assumes a crucial job, automation is aiding organizations to keep up the competition in the market. As a fundamental robotic constituent, robotic grippers have encountered critical improvements in design, attributable to which organizations can accomplish expanded proficiency and efficiency, in this way helping in increasing the general business ROI.

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  • Automotive sector propelling the need for robotic grippers

The appearance of robotics has changed the automotive industry scenario altogether by empowering automakers to oblige the behemoth need for automobiles. Specifically, RPA (robotic process automation) has essentially helped in improving back-office activities. Robotic end of arm devices has enhanced the large scale manufacturing of automobiles that necessitates the management of repetitive operations without mistakes. Leading vehicle makers are effectively sending shared cobots or robots, and announcing higher operational yields with essentially diminished misfortunes in blunders or other technical failures. Robotic gripper makers have presented the automotive business-specific grippers which perform undertakings which are generally ergonomically trying for laborers.

Quickly Rising ‘Eco-Friendly’ &‘Compact’ Trends Boosting Innovations in Commercial RAC PD Compressor Market

Makers are redoing commercial RAC PD (Refrigeration & Air Conditioning Positive Displacement) compressors as per humid settings – tropicalized rotary technology – for upgraded effectiveness against refrigeration compressors or conventional rotary compressors. The tropicalized rotary compressors give stable activity at conditions surpassing 52 degrees Celsius and chill surrounding 20% quicker when contrasted with their customary counterparts.

These compressors with BLDC (brushless DC motor) provide more extensive rotational recurrence, guaranteeing quick cooling, better adequacy, and an extraordinary decrease in vibrational levels. An extra acoustic coat is given with the compressor to arrange clamor levels. The double-revolving engine controls the speed of the compressors to keep up the ideal degrees of temperature, monitoring energy and diminishing power costs. These compressors guarantee stable activity following stage contrast of 180 degrees in mutual compression of the twin rotating engines. Moreover, multiple-blade shaft compressors pivot inside the cylinder housing, compelling the refrigerant utilizing the cylinder and packing it likewise.

Key Aspects Determining the Commercial RAC PD Compressor Market

  • A growing figure of Retail Stores in the market

Over the past ten years, there has been a fast increment in retail stores worldwide. Extension of existing offices and setting up of novel stores are required to build the interest for commercial refrigeration systems, which thus, expanded the requirement.

A considerable change in expectations for everyday comforts, combined with the enhancing macro-economic landscape, has prompted a huge increment in various organized retail stores globally. The fast development of the organized retail sector portrayed by the increasing number of hyper-markets, super-markets, and so on is likely to boost the development of retail shops that thus, is assessed to drive the overall market sales.

  • Governmental initiatives to help the use of environment- friendly refrigerants

A few government offices and associations are concentrating on the decrease of HCFC outflows from refrigerants that is likely to be the foremost aspect for the development of the worldwide market for commercial RAC PD compressor. For example: In the Clean Air Act the Title VI, executed by the EPA (Environment Protection Agency), the U.S. was commanded to lessen the utilization of HCFCs (R-22) by 90% less the gauge through January 1, 2015.

As per the EPA rules, the utilization of HCFCs is likely to go down 99.5% through 2020 and supplanted by elective natural refrigerants. The foremost players in the market have just propelled upgraded products to fulfill these guidelines whereas some level III class players are endeavoring to accomplish compatible advancements through different exercises, for example, partnerships and R&D.

  • An increasing number of warehouses and cold supply chain facilities

Around the world, nations are reinforcing their cold supply chain infrastructure to lessen the wastage of food & beverages. In the U.S., as per the GCCA (Global Cold Chain Alliance), refrigerated warehouse limit expanded at a 9% CAGR amid 2018-2024. The quick extension of cold warehouse capacities all over the world is likely to boost the requirement for refrigeration compressors

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Remarkable Need for Stainless Steel IBCs Offers a Plethora of Prospects in the IBC Rental Business

Transportation of risky liquids and chemicals is an overwhelming undertaking and includes a high level of hazard to human lives in addition to the surrounding. Accordingly, guidelines and strong provisions were detailed to control and screen the transportation of harmful substances. Throughout the most recent decade, IBCs (intermediate bulk containers), particularly stainless steel IBCs have increased huge acknowledgment as one of the most efficient and reliable approaches to transport liquid substances particularly chemicals. Moreover, aside from the safe transportation of harmful substances, IBCs likewise provide effective distribution warehouse storage. The developing implementation of IBCs for chemicals bulk transportation combined with increment in the worldwide export volume has made several prospects for the IBC rental business market participants. Additionally, IBC end-users are slowly perceiving the potential advantages of leasing IBCs as far as the elimination of wasteful drum disposal, storage, and freight costs, save on labor, and efficient use of space. Therefore, the IBC rental business has seen an important development as of late and the trend is likely to proceed in the approaching years.

The beginning of this market has assumed a basic job in changing the general transportation scenario for low-capital end-users of IBCs, providing noteworthy long haul benefits. The need for IBC rental administrations saw a remarkable development from end-users that reliably confronted obstacles comprising, underutilized IBCs, unexpected deliveries, and seasonal fluctuation inducing space limitations in warehouses and more. Along these lines, as leasing IBCs tackles the previously mentioned issues and concurrently improves inventory management essentially, it comes out as a suitable option for clients who don’t exclusively depend on IBCs for their transportation prerequisites.

The market has advanced as of late as per the developing end-user implementation patterns. Consequently, the dynamic market players provide adaptable rental plants to their consumers which are a success for the two parties. Moreover, a few of the different advantages of leasing IBCs, for example, no disposal costs, no capital investment, and adaptable rental projects provided by the organizations are probably going to fuel the market development within a reasonable time-frame. The advancing commercial and industrial scenario in both developing and developed regions will additionally contribute towards the development, inferable from higher demand for chemicals from the paint & coating, construction, and different related industrial verticals.

In the previous decade, hardened steel IBCs have gathered a huge measures of popularity attributable to a scope of advantages they provide over cylindrical drums. Moreover, stainless steel IBCs are simpler to empty and fill, generally easy to drain and clean, and in particular, provide ideal space usage. Moreover, as these are simpler to deal with, the danger of mishaps is altogether lower. Therefore, there was an impressive interest in the ongoing years and the trend is set to proceed in the coming years. As these are profoundly adaptable, reusable, and impervious to erosion, rental need for the equivalent from the end-use sectors comprising synthetic & natural rubber, food & beverage, paints & dyes, and chemicals amid others will keep on seeing fast development.

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Quick Incursion of Processed Foods Holds Bigger Gains in Sales of Hydroxypropyl Distarch Phosphate

Hydroxypropyl distarch phosphate (HDP) assumes a basic job in upgrading the physical parts of consumables, because of better unsusceptibility against starch and acid degrading enzymes – in vivo and in vitro – and against local starch. HDP is a synthetically altered resistant starch that doesn’t discharge glucose through the small intestine, helping into lower insulin and glucose to the reaction of the consumable. Accordingly, HDP helps in forestalling the generation of novel fat cells, guaranteeing a balanced appetite in the body.

HDP, combined with quick gastric purging, catalyzes glycogen restoration and enhanced continuance without the unwanted eventual outcomes of the fast carbs. HDP shows a low glycemic file (GI), suggesting it won’t prompt overweight issues, in contrast to dextrose, fructose, and maltodextrin. Likewise, HDP guarantees fat-burning by activating thermogenesis the same proteins.

Flours utilized in bakery products are blended in with HDP for the arrangement of bread portion of greater volume, because of higher peak thickness and bigger breakdown. HDP, adjusted with ideal cross-connecting, is an incredible substitute for wheat flour to upgrade rheological attributes of batter. Moreover, consideration of HDP in food and beverages contributes to diminished cholesterol, and blood triglyceride content that generally brings about peripheral artery disease, strokes, and heart attack.

HDP is turning into a prevalent ingredient in beauty care products attributable to emulsifying, and surfactant attributes. HDP balances out emulsions at any temperature, improving the emulsion procedure. Corrective firms are incorporating HDP in beauty products following enhanced aesthetics, reduced greasiness, and immediate viscosity.

HDP is increasing gaining force in pharmaceuticals for prompt discharge tablet details whereby the drug must be available inside a short timeframe length to the absorptive territory. For enhanced tolerance convenience, HDP guarantees the manageable arrival of drugs. Likewise, medical experts are using HDP as plasma volume expander gainful for patients experiencing cancer, heavy blood loss, and trauma. Conversely, it is relevant to take note of that, HDP empowers quick maturation by the intestinal bacteria upon its admission, making it unacceptable for people sensitive to dynamic aging of oligosaccharides.

Expanding populace and altering dietary trends of individuals is boosting the need for processed food, which thus, is making propsects for the market. The huge populace and rising spending intensity of the populace are fueling the processed food market in Asian nations and other developing nations. Higher GDP development of China and India are seen over the most recent years and will keep on over the approaching years. These high development economies are making prospects for the food sector to develop at a decent pace. Expanding food utilization will eventually reflect in the developing need for food additives. HDP is devoured in processed food in a huge amount. Along these lines, high development in the processed food sector will boost the need for HDP.

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Market players are concentrating on expanding the manufacturing of HDP, in an offer to cut spaces separated from their local industry. For example, Cargill Inc. provides items in different business fragments – industrial products and services, nutrition, and food. Green Stone Swiss Co. Ltd. is a growing portfolio all over various fragments, comprising herbal extracts, pharmaceutical ingredients, and others. Emerging and organized market participants are tapping void areas in South-East and Middle East Asia, because of flooding interest for halal grade consumables amid the territorial demographic.

Foremost Makers of Valve Seat Inserts to Bank Majorly on Innovative Product Developments

Makers working in the automotive sector have reliably adjusted to the developing industrial and technological innovations scenario. In the recent few decades, there has been a huge flood in various automotive vehicles globally. Moreover, the need for rough terrain vehicles and industrial machinery saw an enduring development which thus, has impacted the market development. As of late, as the implementation of aluminum cylinder heads expanded, it gathered noteworthy popularity amid automotive makers as-sintered valve seat inserts could productively deal with high thermal and mechanical stress created by present-day engines.

In the ebb and flow situation, buyer trends have assumed a significant job informing the market as customers are inclining towards valve seat inserts produced using durable and thermal resistive materials. The need for valve seat inserts created by powder metallurgy watched a consistent development, attributable to their solid advantages comprising, improved component complexity, reduced costs, and enhanced performance.

As per the European Powder Metallurgy Association, these are manufactured through powder metallurgy offer an assortment of advantages including increased component complexity, improved performance, and cost-saving. Also, modern engines created by OEMs and tier 1 makers put a lot more elevated levels of thermal and mechanical stress on valve seat inserts. Consequently, to deal with the more serious conditions inside these motors, the OEMs are furnishing motors with sintered valve seat inserts. Conversely, auxiliary alloy-based and cast chrome valve seat inserts won’t satisfactorily withstand the needs of the environment. Nickel-based composites and others (high-grade material) are essential for market development in the approaching years.

Worldwide automotive sales and production are dependent upon repetitive trends and imponderables to influence the market execution soon. The market players are extending aftermarket contributions to catch an incentive from existing vehicle parc and aftermarket exports. A move by producers to sell valve seat embeds by new channels, transcendently e-commerce will provide a prominent lift to the market. For example, the organizations, for example, Federal-Mogul, TRW, Mahle, amid others are offering valve seat inserts through online accomplices, for example, IndiaMART, Alibaba and so on.

Makers are vigorously concentrating on chopping down the manufacturing, as various varieties in the product offering up are demonstrating costly and muddled while motivating forces and promoting supports are stressed. The ascent of the rental armada and ride-sharing landscape in the market space will straightforwardly affect the manufacturing of valve seat inserts market and vehicles. As of late, the OEMs plot intends to dispatch new EVs to hit yearly sales of 23 Mn electric vehicles by 2023. Thusly, the aftermarket will be the key field where makers can locate their triumphant imperative against the setting of a huge automotive fleet.

Foremost companies working in the worldwide market represent noteworthy market size with a 40-45% of market share and are primarily occupied with the product innovation and capacity expansion to take into account the developing need. For example, as of late, Nippon Piston Ring upgraded production capacity to help yield of valve seats altogether in India to profit by the reinforcing car and motorcycle generation in the nation.

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Relentless Technological Innovation Shaping the Future of Outboard Engines Market

With mounting concerns of enormous carbon emissions, cars are becoming greener, more electrified, and even enabling self-parking; and significant attention has also been paid to the marine scene in the recent years. Whether it be outboard or inboard, the marine engine had been considered to be reliable, clean, and efficient. However, as the emission regulations get tougher, manufacturers of outboard engines are likely to dive headfirst into new technologies or derive models from automotive and industrial sectors. In addition to offering efficient and low-cost outboard engines through technological innovations, manufacturers are targeted towards additional desired features such as digital positioning systems, automatic trim, and digital throttle. Color also plays an imperative role in enhancing the efficiency of outboards engines; white engines run about 25 degrees cooler than the black engines in harsh environments – a key focus area of the manufacturers.

The growing demand for outboard engines has been given a boost from a recent economic recovery of reactional boating activities, which has generated high demand for new engines as enthusiasts upgrade engines in old boats. Sensing a steady growth in the world of marine leisure and transport, engine manufacturers are focusing on game-changing technologies to improve boaters experience and add real value to the engines. As today’s consumers lead a hectic lifestyle with relatively less time to develop driving skills and compile practical experience on the water, the reliance on automatic controls and features has been growing exponentially, thereby compelling manufacturers to innovate their products. Apart from enhancing portability and offering customized size of the outboards engines, manufacturers are currently incorporating a range of technologies such as direct-injection two-stroke, EFI four-stroke, and carbureted four-stroke to offer good fuel economy, convenience, and even environment friendliness.

Mass Customization Trend Leads to User-Selectable Features

High-tech engineering in line with digital advancements are pushing outboard engines on a trajectory towards greater innovation and market domination, which is further due in part to broader changes in boating landscape and overall marine industry. Increased inclination towards recreational water sports and marine tourism along with consumers’ expectations for their boats to operate like cars has been resulting into significant changes, and outboard engines are no exception. In the era of customization and digitalization, consumers expect, outboard engines in particular, to have user-selectable features which can be easily controlled via Bluetooth or Wi-Fi connection. To that end, the level of electronic sophistication in new outboard engines is expected to grow rapidly, providing more intuitive user experience.

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However, as with any product, enhanced feature-rich technology inevitably adds to the final costs. Therefore, a perfect balance needs to be struck between the cost and features that helps lower the overall cost of ownership. While manufacturers are differentiating their products and services through innovation and pricing, more focus needs to be placed on stringent environmental regulations and fuel economy norms to gain s distinct competitive edge.

Orthopedic Surgical Robots to Become Ubiquitous in Total Knee Replacement Surgeries: PMR

The convergence of robotics and the healthcare sectors is no longer the concept from the future, as robots are already performing surgical tasks in various branches of the medical field, especially in orthopedics. The integration of technologically-advanced tools in orthopedic surgeries is increasing rapidly, and this is creating a positive outlook for the orthopedic surgical robots market.

Persistence Market Research recently published a market study and it found that the global market for orthopedic surgical robots surpassed the US$ 1 billion mark in 2018, and it is likely to witness double digit growth between 2019 and 2029. With the rise in awareness about the potential benefits of incorporating advanced technologies such as Artificial Intelligence (AI) in improving the accuracy and speed in diagnostics, ultimately to boost surgical outcomes, the demand for surgical robots in orthopedics is expected to increase rapidly in the coming years, projects the PMR study.

In 2018, adoption of orthopedic surgical robots in total knee replacement surgeries accounted for nearly 45% revenue share of the global market, and its share is likely to increase up to 46% by 2029, according to the key findings of the PMR study. A mounting number of hospitals and clinics across the world are focusing on adopting surgical facilities equipped with advanced robotic tools, and this will further bolster the sales of orthopedic surgical robots in this segment.

The PMR study finds that the number of robotic-assisted total knee replacement surgeries is increasing at a rapid pace, and with the significant improvements in the surgical outcomes attained with orthopedic surgical robots, the demand will further surge in the coming years. Leading players in the orthopedic surgical robots market are introducing innovative and high-tech features of orthopedic surgical robots to best suit the specific surgical requirements of total knee replacement procedures to improve their profitable sales in the coming future.

Orthopedic Surgical Robots to Enable Lowing Operational Costs in Minimally Invasive Surgeries

With advent of advanced technologies to perform surgeries without the need for large incisions and a high number of cuts, patients are showing inclination towards undergoing minimally invasive surgical procedures rather than the traditional methods. This is reflecting positively in the growth of the market for orthopedic surgical robots, as a mounting number of computer-assisted electromechanical devices are employed to perform minimally invasive orthopedic surgeries with great geometric accuracy. In addition, healthcare organizations are also achieving a significant reduction in the surgical costs along with improved efficacy with the incorporation of orthopedic surgical robots, which is likely to better the growth prospects of the market in the coming years.

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The PMR study finds that a large number of hospitals are boosting their adoption of technologically advanced surgical robots that can perform various types of joint replacement surgeries. In 2018, around 60% of the end users in the of orthopedic surgical robots market were hospitals, finds the PMR study. However, the demand is rising from specialty orthopedic clinics, which are aiming to offer better surgical outcomes than hospitals with a lower rehabilitation time and improved quality of life for patients post-surgery.

The Rising Demand for Naturally-Sourced Cosmetics Boosts the Production of Marula Oil

Although pocket-friendly, chemical-based cosmetic products are receiving backlash from consumers due to potential side effects on the skin, and the hair. Realizing the situation, manufacturers are turning to naturally-sourced cosmetic formulations that pose nil after effects. And marula oil gels along well as a vital natural ingredient in various skin care, and hair care products.

Locally extracted in Southern Africa – Namibia, South Africa, and Zimbabwe, marula oil is being utilized in food items or for medicinal applications in the native regions. As marula oil reveals immense skin- and hair-protecting properties, manufacturers are including marula oil in several cosmetic formulations.

Analysts at Persistent Market Research suggests that the sales of marula oil is estimated to peg ~US$ 39 Mn in 2019 and is anticipated to click ~US$ 60 Mn in 2029 at a moderate growth. Surging employment of organic ingredients in the cosmetics vertical is a prime driver for market progress. In addition, the deployment of innovative technologies is set to reduce the turnaround time for the production of marula oil – the next leg of growth.

Marula Oil Becoming a Key Ingredient in Skin Care Products

PMR finds that the inclusion of marula oil is significantly high in skin care products – ~71%. Marula oil, following the abundance of antioxidants as well as anti-inflammatory and anti-bacterial features, shields skin from different external adversaries. Presence of advanced moisturizing and rich steric acid content in marula oil aids in retaining the moisture in the skin. Marula oil diminishes wrinkles on the skin owing to the affluence of essential omega fatty acids. As a consequence, marula oil comfortably fits into the increasing demand for anti-aging skincare formulations.

Facial skin products, particularly moisturizers, are observing wide acceptance among consumers across the globe. In addition, consumers are always seeking customization in skin care products. Marula oil offers a multitude of skin favorable aspects, allowing manufacturers to satiate the customization requisite.  

Increasing Application of Organic Cosmetics in Europe Catches the Eyes of Marula Oil Producers

The consumption of marula oil is highest in Europe with the region accounting for about two-fifths of the market revenue, suggests PMR. The usage of cosmetic products is facing an uplift in Europe, especially Germany, France, and the UK in tandem with the intensifying trend of organic culture. Marula oil is sourced naturally either from soft kernel seeds or hard nut shells, and exhibits affluent skin and hair benefits. Consequently, marula oil aligns with the growing preference of organic cosmetic products.

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Individuals in Europe, particularly millennials, are looking for products that aid in sustaining the appearance of their skin, paving way for anti-aging formulations. With the fad of animal-free items taking charge in a majority of countries, cosmetic manufacturers are adding natural ingredients, such as marula oil, to their offerings to satiate the demand.

Allergy-Free Lentils a Perfect Alternative to Meat and Dairy Proteins

Lentils, belonging to the legume family, are characterized by high protein and fiber content with low fats. As the preference for protein-affluent food items is increasing, especially among athletes, the demand for various protein ingredients is set to snowball. With the consumers’ consumption pattern shifting towards meat-free products, the lentil market easily fits into the rising shift. Lentils are abundant in essential amino acids beneficial for enriching the functionality of the immune system, and avoiding various viral infections. Sufficiency of iron in lentils aids in maintaining oxygen pumping throughout the body.

Consumers are looking for healthier and cost-friendly protein source substitutes. Although plant-based protein sources, including soy, and wheat, provide ample amount of proteins, they encompass gluten not suitable for individuals having allergies. Lactose present in milk results in allergic responses leading to nausea, diarrhea or vomiting. As such, lactose intolerant individuals tend to look for alternatives to milk proteins.

Persistent Market Research, in its new market intelligence report, suggests that the global lentils market is estimated to peg ~US$ 120 Mn in 2019 and is spectated to grow at a CAGR of ~5% to reach ~US$ 200 Mn by the end of 2029. High sensitivity towards existing plant-based protein sources in tandem with boycotting of red meat remains the goldmines of demand growth.

Surging Demand for Lentils in Clean Label Food Products

Consumers across the globe are taking a deeper dive while purchasing food products. As a consequence, food products revealing synthetic labels are receiving backlash from a majority of the consumers. Due to harmful health impacts of synthetic additives, and preservatives, manufacturers in the food & beverage industry are opting for naturally sourced ingredients to comply with the clean label demand of consumers.

Lentils are sourced naturally from legumes, as such, lentils qualify for the clean label ingredients. Bakery & confectionery products, and snacks are considered to be the most consumed food products globally.  Consequently, the usage of lentils-based proteins in myriads of health & nutrition food products is accelerating. Furthermore, clean labeling enhances the transparency between consumers and manufacturers – a factor boosting the demand for lentils in clean label products.

Lentils In Line With the Rising Vegan Trend in Europe

With the fad of plant-based food intensifying manifolds in Europe, lentils are entering into the vegan diet regime of a majority of consumers as a protein booster. Surveys find that Germany was the most innovative vegan market the previous year, with the UK veganism recognized as the biggest food trend.

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Five of the top ten countries worldwide with the highest rates of vegetarianism belong to Europe, including Austria, the UK, and Switzerland. As such, market vendors are eye disruption in the European region.  Pasta is among the favorite meals of consumers in Italy. As the Italian consumers are highly inclined towards plant-sourced food items, vegan pasta comprising of lentils are witnessing a major uplift. Furthermore, HoReCa (Hotels, Restaurants, and Cafes) are introducing a greater count of vegan food items in their menus, driving lentil vendors to target the eatery outlets.