Market Research Blog – Page 1658 – New Product Development

Global Building Thermal Insulation Market Set to Reach USD 44.23 Billion by 2032, Growing at a 4.3% CAGR

The global building thermal insulation market is projected to maintain a stable compound annual growth rate (CAGR) of 4.3% over the forecast period from 2022 to 2032. This steady growth trajectory underscores the increasing demand for energy-efficient building solutions, driven by rising awareness of energy conservation and stringent building codes and regulations. By 2032, the market is expected to reach a significant valuation of approximately USD 44,233.7 million, reflecting the growing adoption of thermal insulation materials in both residential and commercial construction to enhance energy efficiency, reduce carbon footprints, and improve indoor comfort.

Rising commercial and residential applications to trim down the overall energy costs and increasing consumer awareness about energy consumption are expected to bolster growth in the market.

According to Indian Green Building Council, insulation building saves money and protects the environment at the same time. It enhances general comfort and decreases monthly expenditure. With the introduction of green technologies and green practices, energy savings can reach as high as 40% to 50% in the global market.

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Key Takeaways

The industry’s focus is drastically being shifted from the environmental impact of insulation materials to the advancement of environment-friendly products. This drastic shift is due to changing consumer preferences for more advanced technologies. Furthermore, recyclable thermal insulation packs are also gaining traction due to the stringent government regulations responsible for conventional products like plastic foams.
The growing environment awareness and surging preference for recyclable, green, and biodegradable products by homeowners, businesses, and architects are expected to augment growth in the market across the forecast period.
There is a reasonable surge witnessed in the world for building thermal insulation attributed to the expansion of buildings and the construction sector. Thermal insulation systems help buildings in keeping a check on temperatures and make them consistent by reducing heat transmission between the adjacent environments. These efficient insulations also cut down on carbon emissions by decreasing heat transfer to the outside environment and it also needs way lesser energy to maintain temperature.
Due to the rise in industrialization, thermal insulations are widely installed in commercial buildings in order to save energy, which is expected to spur the market size in the upcoming years. According to the U.S Census Bureau and U.S Department of Housing and Urban Development, 1,295,000 housing projects were completed. The rising construction projects are anticipated to foster the building thermal insulation market in the forecast period.
Affordable insulation services have led consumers to buy DIY insulation products due to their affordability and being less expensive. Such DIY products are available as insulating panels and sprays designed by professionals for specific consumers who cannot afford the high-end insulation services.
Residential construction across the world is gaining significant traction owing to the factors such as migration from rural areas to service sector clusters, the increasing trend of nuclear families, and population growth.

Competitive Landscape

Key market players are anticipating offering DIY insulation products because of their low cost and help reduce consumers’ overall market expense. In addition to that, widespread awareness of energy efficiency in residential buildings is fueling market growth. Prominent players in the market are adopting various innovative technologies that are expected to widen the market growth scope in the coming time.

Key Companies Profiled

Rockwool International A/S
Atlas Roofing Corporation
Dow Building Solutions
Principal Financial Group Inc.
Johns Manville
Huntsman Corporation
Kingspan Group
Owens Corning
BASF SE
Saint-Gobain
Knauf Gips KG
Atlanta AG
GAF Materials Corporation
CNBM Group

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Key Segments Profiled in the Global Building Thermal Insulation Market

Material:

Wool Insulation/Open Cell Building Thermal Insulation
Stone Wool Building Thermal Insulation
Fiberglass Wool Building Thermal Insulation
Plastic Foams/Closed Cell Building Thermal Insulation
Extruded Polystyrene Building Thermal Insulation
Polyurethanes Building Thermal Insulation

Building Type:

Residential Building Thermal Insulation
Commercial Building Thermal Insulation
Industrial Building Thermal Insulation

Application:

Building Roof Thermal Insulation
- Pitch Roof
- Flat Roof
Building Wall Thermal Insulation
- Air Cavity Wall
- External Wall
- Internal Wall
Building Floor Thermal Insulation

Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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 ~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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Global Low-Grade Glioma Therapeutics Market Poised for Robust Growth, Reaching USD 1515.47 Million by 2033

The global low-grade glioma therapeutics market is set to experience significant growth, according to a new comprehensive analysis of the medical therapeutics sector. The latest report reveals that the market is projected to increase from USD 1,038 million in 2023 to a remarkable USD 1,515.47 million by 2033. This growth reflects a steady Compound Annual Growth Rate (CAGR) of 4.57% over the forecast period.

The anticipated market expansion is driven by the rising incidence of low-grade glioma cases worldwide and an increasing demand for innovative and more effective treatment options. Low-grade gliomas, classified as Grade I or II tumors by the World Health Organization (WHO), are known for their slow growth. However, their tendency to infiltrate surrounding brain tissues poses significant challenges for complete surgical removal, emphasizing the need for advanced therapeutic solutions.

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The report highlights a shift in the focus of research and development activities within the pharmaceutical and healthcare sectors towards finding effective treatments for low-grade gliomas. This shift is a response to the complex nature of these tumors and the critical need for therapies that can significantly improve patient outcomes.

Industry experts underscore the importance of innovation in this field, pointing out that the development of new drugs and therapeutic strategies is essential for meeting the growing needs of patients diagnosed with low-grade gliomas. The forecasted growth of the market indicates a positive response to these challenges, with pharmaceutical companies and researchers making concerted efforts to advance the treatment landscape for this patient population.

As the global community continues to witness advances in medical science and technology, the low-grade glioma therapeutics market stands out as a beacon of hope for patients and their families. The coming years are expected to bring forth novel treatments that will redefine the management of low-grade gliomas, ultimately contributing to better survival rates and quality of life for those affected by this condition.

Key Market Drivers:

Increasing prevalence of low-grade glioma: The prevalence of low-grade glioma is increasing worldwide, due to factors such as an aging population and increased exposure to environmental carcinogens.
Rising demand for effective and innovative treatments: There is a growing demand for effective and innovative treatments for low-grade glioma, as the current standard of care is not always curative.
Government support for R&D: Governments around the world are investing in research and development of new treatments for low-grade glioma.

Key Takeaways:

The global low-grade glioma therapeutics market is expected to grow significantly in the coming years, due to the increasing prevalence of low-grade glioma and the rising demand for effective and innovative treatments.
Targeted therapies and personalized medicine are becoming increasingly popular in the treatment of low-grade glioma.
Minimally invasive surgery is also becoming increasingly popular in the treatment of low-grade glioma, as it can reduce the risk of complications and improve patient recovery time.
The high cost of treatment, lack of awareness, and side effects of treatment are some of the key challenges facing the low-grade glioma therapeutics market.

Key Companies Profiled:

Day One Biopharmaceuticals
AnHeart Therapeutics
Beigene
SpringWorks Therapeutics
Servier
Helsinn
Forma Therapeutics
Hoffmann-La Roche
Incyte
Eli Lilly

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Key Segments Profiled in the Low-grade Glioma Therapeutics Industry Survey:

Drug Class:

Trametinib
Dabrafenib
Ivosidenib
Mirdametinib

Route of Administration:

Topical
Oral

Distribution Channel:

Online Pharmacies
Hospital Pharmacies
Retail Pharmacies

Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and 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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Surge in Bioresorbable Polymers Market: Projected to Reach USD 3,937.8 Million by 2033 Driven by Sustainable Healthcare Solutions

The bioresorbable polymers market is poised for remarkable growth, projected to escalate from USD 1,339.4 million in 2023 to USD 3,937.8 million by 2033, at a robust CAGR of 10.9%. This surge is driven by the increasing adoption of sustainable and innovative solutions within the healthcare industry.

These innovative polymers, also known as biodegradable polymers, have garnered attention due to their unique properties and potential to transform medical treatments and procedures that are shaping the market’s future trends.

With growing concerns for patient well-being, reduced healthcare costs, and environmental sustainability, the adoption of bioresorbable polymers is witnessing a substantial surge.

By leveraging bio-based raw materials and engineered industrial processes, these polymers are mass-produced, catering to the rising demand across various healthcare applications.

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In addition to their environmental benefits, bioresorbable polymers offer significant advantages in drug delivery systems that are fostering market growth.

These polymers can be tailored to encapsulate and release drugs in a controlled manner, allowing for targeted and prolonged drug delivery, opening up new possibilities for the treatment of various diseases, as it eliminates the need for frequent administrations and reduces the risk of adverse side effects.

The drug delivery category is expected to remain prominent in the bioresorbable polymers market, with continuous advancements in polymer formulation and manufacturing techniques.

The market for bioresorbable polymers faces challenges in complying with stringent regulatory guidelines and obtaining necessary approvals for medical devices and applications.

Developing and commercializing bioresorbable polymers requires significant investments in research, development, and manufacturing capabilities, which can pose financial challenges for smaller companies and startups.

Despite the challenges that exist in the market, bioresorbable polymers have the potential to revolutionize drug delivery by enabling the controlled and targeted release of medications. This opens up new possibilities for personalized medicine and improved treatment outcomes.

Continued investment in research, development, and manufacturing capabilities, along with supportive regulatory frameworks, is crucial in overcoming these challenges and capitalizing on the opportunities in the market for bioresorbable polymers.

Key Takeaways:

The bioresorbable polymers industry in the United States of America is expected to hold a value share of 27.8% in 2023.
The bioresorbable polymers industry in Germany likely represents a 7.0% value share in 2023.
During the forecast period, the market for bioresorbable polymers in India witnesses a significant growth rate of 12.7%.
The market in the United Kingdom is expected to achieve a CAGR of 8.2% in the market from 2023 to 2033.
By application, drug delivery is projected to be capturing a value share of 37.0% in 2023 in the global market.

How Fierce Is the Competition in the Bioresorbable Polymers Market?

The competition in the bioresorbable polymers industry is increasingly fierce as more players recognize the market potential and strive to capitalize on the growing demand for sustainable healthcare solutions.

Key market players are actively engaged in research and development activities to innovate and introduce new bioresorbable polymer products with enhanced properties and functionalities.

The market is characterized by a mix of established companies and emerging players, each striving to gain a competitive edge.

Established companies leverage their experience, strong distribution networks, and brand reputation to maintain their market share. They often have significant investments in research and development, manufacturing capabilities, and regulatory compliance, which pose barriers to entry for new entrants.

Emerging players, on the other hand, focus on disruptive technologies, product differentiation, and niche applications to carve a niche in the market. These companies often bring fresh perspectives, agility, and innovative solutions, challenging established players.

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Top Key Players

Corbion NV
Evonik Industries AG
Poly-Med Inc.
Foster Corp.
Abbott
KLS Martin Group
3D Biotek LLC.
Sunstar Suisse S.A.
DSM
Futerro

Segmentation Analysis

By Product:

Polysaccharides Bioresorbable Polymers
Proteins Bioresorbable Polymers
Polylactic Acid Bioresorbable Polymers
Polyglycolic Acid Bioresorbable Polymers
Polycaprolactone Bioresorbable Polymers
Others

By Application:

Bioresorbable Polymers in Drug Delivery
Bioresorbable Polymers in Orthopedics
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa

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Gut Health Supplement Market to Surge to USD 27.3 Billion by 2033, Driven by 8.3% CAGR Amid Rising Awareness of Digestive Health Benefits

The global gut health supplement market is valued at US$ 12,304.7 million in 2023 and is set to witness impressive growth during the forecast period. The market is projected to expand at a CAGR of 8.3% during the assessment period, reaching a valuation of US$ 27,312.0 million in 2033.

The gut health supplement market is set to witness robust growth during the forecast period. This is attributable to the increasing consumer awareness of the importance of gut health and its impact on overall well-being.

Changing dietary patterns and the prevalence of processed foods have increased digestive issues and gut-related disorders. To address this issue, people look for natural and practical solutions to support their digestive health. This is expected to drive demand for gut health supplements.

Discover Growth Potential: Explore our detailed market research study to identify high-potential sectors and strategic business opportunities.

The rising geriatric population is also creating growth opportunities for gut health supplement manufacturers. Aged individuals often experience age-related changes in digestion and may require supplements that support gut health and nutrient absorption.

There has been an increasing interest in products like prebiotics and probiotics. This is due to growing health awareness and increasing popularity of preventive healthcare. This will play a key role in boosting the growth of the gut health supplement market.

The rise in antibiotic usage has led to a greater need for probiotics and other gut health supplements to restore and maintain a healthy microbial balance. This is anticipated to bolster sales of gut health supplements through 2033.

North America dominates the market for gut health supplements. At the same time, Asia-Pacific is anticipated to witness high demand due to key participants adopting strategies such as introducing their brands in untapped economies of Southeast Asia.

Key Takeaways from the Report:

The global gut health supplement market is expected to reach a valuation of US$ 27,312.0 million in 2033
The market is expected to surge at a CAGR of 8.3% over the forecast period.
The United States is projected to reach a valuation of US$ 12,304.7 million in 2023.
The capsules segment is the most popular form and is expected to hold a market share of 31.0% in 2023.
Germany is estimated to surge at a CAGR of 7.1% during the forecast period.

“The global gut health supplement market is witnessing substantial growth due to increasing consumer awareness about the crucial role of gut health. Rising cases of digestive disorders, such as irritable bowel syndrome (IBS) and inflammatory bowel disease (IBD), are further contributing to the market growth,” says Nandini Roy Choudhury, Client Partner at Future Market Insights.

Who is Winning?

Alltech, International Flavors & Fragrances (IFF), Anovite, Nestle Health Science, Pfizer Inc., Bayer AG, Procter & Gamble Co., Pendulum, Johnson & Johnson, Herbalife, Nature’s Bounty, Garden of Life, Zenwise, HealthForce, Nutricia NV, Alimentary Health Limited, Lonza Group Ltd, NOW Foods and others are the few leading gut health supplement manufacturers.

Acquisitions and mergers benefit companies by improving their product quality and expanding their market reach. Companies are launching new products to stay competitive and meet the changing consumer demands. Development of advanced gut health formulas will allow companies to attract new customers and retain existing ones while increasing their market share.

Recent developments:

In 2023, Acutia launched Acutia Gut Health. This daily supplement addresses indigestion and gradually improves gut health by combining L-glutamine, a prebiotic, and a postbiotic.

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Future Market Insights (FMI) has released an objective assessment of the global gut health supplement market, presenting past demand data from 2018 to 2022 and projecting forecast statistics for the 2023 to 2033 period.

To understand the growth potential, growth, and scope, the market is segmented based on product type (prebiotics, probiotics, enzymes, polyphenols and others), form (tablets, capsules, liquid, powder premixes, gummies/chewable, lozenges and liquid and gels), sales channel (prescription supplements (Rx)/(institutional sales (hospital and clinics)), over the counter supplements (OTC) and online), and region.

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Gut Health Supplement Market Segmentation by Category

By Product Type:

Prebiotics
Probiotics
Enzymes
Polyphenols
Others

By Form:

Tablet
Capsules
Liquid
Powder Premixes
Gummies/Chewable
Lozenges
Liquid and Gels

By Sales Channel:

Prescription Supplements (Rx)/(Institutional Sales (Hospital and Clinics))
Over the Counter Supplements (OTC)
- Drug Stores and Pharmacies
- Hypermarkets/Supermarkets
- Convenience Stores
- Health and wellness Stores
- Specialty Stores
- Departmental Stores
Online
- Company Website
- 3rd party / Mass Merchandiser

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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Booming Calcium Supplement Market in Japan Poised for Remarkable Growth: Expected to Reach USD 395.8 Million by 2033 with a CAGR of 10% | FMI

The calcium supplement industry in Japan is set to experience significant growth, with projections indicating a market value of USD 395.8 million by 2033, up from USD 153.3 million in 2023. This anticipated surge is driven by a robust compound annual growth rate (CAGR) of 10% over the forecast period. Investors and stakeholders are increasingly eyeing this burgeoning market, seeking to capitalize on the rising demand for health and wellness solutions.

The contemporary generation’s holistic approach to health and well-being has spurred solutions that address dietary inadequacies and lifestyle disorders. Urbanization and sedentary lifestyles have led to various lifestyle ailments, including calcium deficiency, particularly among women. This scenario has significantly boosted the sales of calcium supplements in Japan.

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Growing Demand Among Older Population:

Calcium insufficiency is a prevalent issue among the elderly, with conditions like osteoporosis becoming more common with age. Health specialists recommend calcium supplements to protect bone health, driving substantial market growth. The increasing need for calcium supplements among the aging population underscores the market’s potential for investors.

Market Opportunities:

The rise of eCommerce has expanded the reach of health supplement companies, enabling them to target a broader audience. Additionally, there is a growing emphasis on well-being and self-care, with many individuals turning to supplements to maintain health. Calcium supplements, in particular, are gaining popularity as a convenient solution for strong bones, heart health, muscle function, and nerve health.

As the demand for cruelty-free and plant-based products rises, consumers are shifting from animal-based proteins to plant-based supplements. Plant-based vitamins and minerals are more efficiently absorbed by the body, driving the popularity of such products.

Comparative View of Key Markets:

The calcium supplement industry in Japan is set to exhibit a higher growth rate compared to other regions, such as Korea and Western Europe. The industry’s value in Japan is also projected to surpass that of Korea.

Category-wise Insights:

Soft Gel Pills Dominance:

Soft gel pills are projected to dominate the calcium supplement market in Japan, accounting for 49.8% of the market share in 2023. Their easy-to-swallow nature and suitability for oil- and fat-soluble formulations make them a preferred choice among consumers.

Male Population Driving Demand:

Men’s supplement consumption is expected to capture 39.5% of the market share in 2023, driven by growing health consciousness and an active gym lifestyle. Supplements targeting bone and joint health are particularly popular among men, who are willing to invest in products that help maintain a healthy lifestyle and prevent age-related bone issues.

Competitive Landscape:

The competitive landscape of the calcium supplement industry in Japan is expanding rapidly. Leading companies include Eisai, Morinaga Milk Industry, UNIMAT RIKEN, ORIHIRO, Asahi Group, Otsuka, DHC, Bean Stalk Snow, Dainippon Pharmaceutical, and Kobayashi Pharmaceutical. These firms offer a wide range of calcium supplements catering to various consumer segments and needs.

Recent Developments:

Kyowa Hakko Bio Co., Ltd.: Developed a novel probiotic strain in June 2023 to enhance calcium absorption.
Suntory Beverage & Food Limited: Launched “Calcium Water” in February 2023, offering 300mg of calcium per bottle.
Rohto Pharmaceutical Co.: Introduced a new calcium supplement formulation in October 2022 with nano-sized calcium particles for improved absorption.
Daiwa Pharmaceutical Co.: Released “Boneplus” in April 2022, incorporating vitamin D3, vitamin K2, and magnesium in addition to calcium.

Key Segments

By Form:

Tablets
Capsule
Powder
Soft Gel Pills
Liquid
Others

By End Use:

Men
Women
Children
Infants

By Type:

Child calcium supplement
Adult calcium supplement

By Application:

Online
Offline

By City:

Kanto
Chubu
Kinki
Kyushu & Okinawa
Tohoku
Rest of Japan

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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.

Korea Dietary Supplements Market Set to Reach USD 4.18 Billion by 2033 with a 10.4% CAGR – Future Market Insights

The Korean dietary supplements market is experiencing robust growth, with a projected compound annual growth rate (CAGR) of 10.4% from 2023 to 2033. According to the latest report by Future Market Insights, the market is estimated to be valued at USD 1,561.41 million in 2023 and is expected to soar to USD 4,181.92 million by the end of the forecast period. This significant growth highlights the increasing demand for dietary supplements driven by health consciousness, technological advancements, and evolving consumer preferences.

Growing Health Awareness and Diverse Product Demand

The South Korean market for dietary supplements is witnessing a surge in demand, fueled by a growing awareness of health and wellness. Key trends shaping this market include the increasing popularity of red ginseng, probiotic supplements, vitamins, and collagen products. The convenience and health benefits offered by these supplements have captivated the Korean population, making them an integral part of daily health regimes.

Discover Growth Potential: Explore our detailed market research study to identify high-potential sectors and strategic business opportunities.

E-commerce: A Catalyst for Market Growth

The rise of e-commerce has revolutionized the dietary supplements market in Korea. A significant portion of the population is now opting for online shopping to purchase their dietary supplements, enhancing accessibility and convenience. This shift has opened new avenues for both local and international brands to reach a broader consumer base effectively.

Key Drivers of Market Expansion

Rising Disposable Income Among Youth: The affluent young generation in Korea is increasingly investing in their health and appearance, boosting the sales of dietary supplements. This demographic’s willingness to spend on health and wellness products is a critical driver of market growth.
Emergence of Fitness Trends: As fitness becomes a mainstream lifestyle choice, there is a notable shift towards plant-based dietary supplements. This trend is gaining momentum, with more consumers opting for products that align with their fitness and health goals.
Government Regulation Enhancing Consumer Confidence: The Korean government’s stringent regulations on dietary supplements have significantly reduced the prevalence of counterfeit products. These measures have bolstered consumer trust and assured the quality and authenticity of supplements available in the market.
Rising Popularity of Sports Nutrition: With sports such as football, badminton, and skating gaining popularity, sports nutrition supplements are witnessing increased consumption. These supplements are designed to enhance athletic performance and recovery, further driving market growth.
Growing Pet Ownership: The pet population in Korea has nearly doubled over the past decade. This surge in pet ownership presents substantial opportunities for the pet dietary supplements segment, catering to the health and wellness needs of pets.

Competitive Landscape and Key Players

The South Korean dietary supplements market is highly competitive, with a diverse array of local and international players. Notable companies driving innovation and growth in this sector include:

Korea Ginseng Corporation
ChongKunDang Healthcare
Dong-A Pharmaceutical
Kolmar Korea
Nongshim Health
Il-Yang Pharm
Pulmuone Health & Living
Amway Korea
GNC Korea
Viva Health
USANA Health Sciences
Kyani
DSM Nutritional Products
NOVAREX
Cellromax
Biovea
Nestlé
GlaxoSmithKline

Recent Industry Developments

In August 2023, Hyundai Department Store partnered with Nestlé to introduce Nestlé’s dietary supplements in Korea, exploring joint production opportunities. Additionally, TSI Group’s myHMB product received approval from the Korean Ministry of Food and Drug Safety (MFDS) in October 2023, enabling TSI Group to highlight the health benefits of myHMB in its dietary supplements.

Key Segments

By Form:

Soft Gel or Capsules
- Confectionary Products
  - Gummies
  - Chews
  - Others
- Pharmaceutical Products
  - Chewable Pills and Pills
  - Soft Gel
Powder
Liquid

By Ingredient:

Vitamins & Minerals
Amino Acids
Botanical Supplements
Others

By End Use:

Men
Women
Senior Citizen
Others

By Application:

Weight Loss
Sports Nutrients
General Well Being
Immune Health and Digestive Health
Bone and Joint Health
Heart Health
Others

By Distribution Channel:

Pharmacies Drug Store
Health & Beauty Stores
Immune Health and Digestive Health
Bone and Joint Health
Heart Health
Other

By Province:

South Gyeongsang
North Jeolla
South Jeolla
Jeju

Secure Your Copy Now: Gain full access to the South Korean dietary supplements Industry report, including Market Forecast, Company Share Analysis, Competitive Intelligence, DROT Analysis, Market Dynamics, Challenges, and Strategic Growth Initiatives.

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.

Feed Supplements Market to Reach USD 5.3 Billion by 2033, Growing at 5.5% CAGR – Future Market Insights

The global feed supplements market demand is poised for significant growth, projected to expand at a compound annual growth rate (CAGR) of 5.5% from 2023 to 2033. According to the latest research by Future Market Insights, the market, valued at US$ 3.1 billion in 2023, is expected to reach US$ 5.3 billion by the end of the forecast period. This growth underscores the increasing demand for sustainable and nutritionally enhanced animal feed solutions.

Sustainable Farming and Consumer Awareness Drive Market Growth

In an era where consumer awareness is paramount, the demand for feed supplements is surging. Consumers are increasingly concerned about the health implications of the products they consume, pushing livestock owners to seek environmentally friendly and health-conscious feed supplements. These supplements are essential for enhancing animal health, ensuring the quality of meat, milk, and eggs, and promoting sustainability in livestock farming.

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The global livestock industry, which accounts for 77% of the world’s farming land, is a critical component of agricultural production. In the United States alone, cattle farming contributes significantly to agricultural revenue, representing 17% of the total US$ 462 billion in agricultural cash receipts. The growing population and increasing demand for animal-based products further emphasize the need for efficient and nutritious feed supplements.

Innovative Solutions and Market Dynamics

Key players in the feed supplements market, such as Archer Daniels Midland (ADM) and GrainCorp Ltd., are at the forefront of innovation. ADM’s Animal NutritionTM division offers a diverse range of products designed to optimize animal health and performance. Similarly, GrainCorp Ltd. provides customized feed solutions, enhancing farm productivity and profitability through advanced feed additives like Palm Kernel Expeller (PKE) and Dried Distillers Grains (DDGS).

Technological advancements in molecular biology and gene sequencing are revolutionizing the development of feed supplements. These innovations are creating new opportunities to enhance animal health, improve gut health, and increase overall productivity. The integration of digital technologies in farm management is also expected to boost market growth by improving efficiency and reducing costs.

Rising Demand for Companion Animal Nutrition

The surge in pet ownership worldwide is another significant driver of the feed supplements market. With Americans spending over US$ 50 billion annually on their pets and India experiencing the fastest-growing dog population globally, the demand for high-quality pet nutrition is skyrocketing. Feed supplements are now among the top items on the list for pet owners, ensuring that companion animals receive the best possible nutrition.

Consumer Education and Market Expansion

Despite the evident benefits, consumer awareness about the advantages of feed supplements remains low. Educating consumers about the health benefits of these supplements and their role in enhancing animal health is crucial for market expansion. This gap in awareness presents a significant opportunity for growth, as the demand for biologically advanced products continues to rise.

Regional Insights and Market Opportunities

The feed supplements market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa, with North America leading in terms of market value. In Asia Pacific, countries like China and India are experiencing robust growth, driven by increasing incomes, an aging population, and greater healthcare access.

The report also highlights the competitive landscape, featuring key players like Archer Daniels Midland, Cargill Incorporated, BASF SE, Land O’Lakes Inc., and GrainCorp Ltd. These companies are leveraging their expertise to enhance product offerings and strengthen market presence.

Global Feed Supplements: Market Segmentation

Basis of Product Type:

Vitamins
Protein
Minerals
Others

Basis of Source:

Urea
Molasses
Corn
Others

Basis of Livestock:

Ruminants
Poultry
Swine
Aquaculture
Others

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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.

Glucosamine Supplements Market Set for Significant Growth, Projected to Reach USD 932.7 Million by 2033

The latest report by Future Market Insights projects the global glucosamine supplements market to expand at a CAGR of 4.8% from 2023 to 2033, with its value increasing from USD 583.6 million in 2023 to USD 932.7 million by 2033. This growth marks a substantial leap from the market’s valuation of USD 567.2 million at the end of 2022, presenting promising investment opportunities in the health and wellness sector.

Driving Forces Behind Market Expansion

Several key factors are propelling the growth of the glucosamine supplements market. Increasing prevalence of joint-related disorders, such as arthritis, along with a growing awareness of the benefits of glucosamine in maintaining joint health, is boosting market demand. Additionally, rising consumer expenditure on health products, coupled with a trend towards natural and preventive healthcare solutions, further stimulates market growth.

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Glucosamine supplements are widely recognized for their role in promoting joint flexibility and reducing pain associated with arthritis. These supplements are available primarily in two forms: glucosamine hydrochloride and glucosamine sulfate. Their use is not limited to joint health; they are also being explored for their potential benefits in treating conditions like inflammatory bowel disease, asthma, allergies, and other inflammatory disorders.

Historical Trends vs. Future Projections

From 2018 to 2022, the glucosamine supplements market grew at a CAGR of 2.9%, reaching US$ 567.2 million in 2022 from US$ 505.9 million in 2018. Over the forecast period (2023-2033), the market is expected to grow at a faster pace of 4.8%, driven by factors such as the increasing incidence of chronic diseases like diabetes, cancer, and obesity, and the expanding use of glucosamine in the pharmaceutical sector to manage cardiovascular diseases, diabetes, and hypertension.

Regional Insights

The North American glucosamine supplements market is thriving, driven by the high prevalence of joint disorders and a significant shift towards natural health solutions. The region’s market growth is supported by increasing healthcare spending, rising consumer awareness about glucosamine’s benefits, and robust retail expansion. New product launches and continuous innovation by key players further bolster market growth in this region.

Europe remains a crucial market for glucosamine supplements, with significant demand driven by a preference for natural health remedies. Countries like the UK, Germany, France, and Spain are witnessing a surge in the use of glucosamine supplements. The availability of these supplements as over-the-counter products in many European nations and increasing consumer preference for natural treatments are key factors fueling market growth.

The Asia Pacific region is experiencing rapid growth in the glucosamine supplements market, with China and India emerging as major markets. Factors such as rising disposable incomes, an aging population, and enhanced healthcare access are contributing to this growth. Countries like Japan and South Korea are leading the way with aggressive marketing strategies promoting glucosamine supplements, further driving market expansion.

Industry Applications and Innovations

Food and Beverage Industry: Glucosamine is increasingly being incorporated into food and beverage products, thanks to its anti-inflammatory properties and potential health benefits. It is used in a range of products from snacks to energy drinks, enhancing nutritional value without adding calories or fat.
Dairy Products: In the dairy industry, glucosamine supplements are added to products like cheese, yogurt, and milk to support joint health in livestock. This application ensures healthy joints and bones in dairy cows, enhancing their productivity and welfare.

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Competitive Landscape

The glucosamine supplements market is highly fragmented, with major players like GlaxoSmithKline, Pfizer Inc., Merck & Co., Inc., Sanofi, Novartis AG, and numerous other companies, including Solgar, BioTech USA, Nature’s Best, Mylan N.V., and Teva Pharmaceutical Industries Ltd., competing for market share. These companies are focused on strategic partnerships, product innovation, and market expansion to strengthen their positions. Additionally, the market is witnessing a rise in private label and store brand products, contributing to increased competition and innovation.

Market Segmentation and Insights

By Type: The market is segmented into capsules, soft-gels, tablets, caplets, liquids, powders, and others.
By Product Type: Segments include n-acetyl glucosamine, glucosamine hydrochloride, and glucosamine sulfate.
By Application: Applications cover food and beverages, dairy products, and nutritional supplements.
By Region: Key regions include North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

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.

Vegan Vitamins and Supplements Market Poised for Explosive Growth, Attracting Investors with Projected Value of USD 12,629.6 Million by 2033

According to the latest research by Future Market Insights, the global vegan vitamins and supplements market demand is set to experience substantial growth, expanding at a CAGR of 6.10% from 2023 to 2033. This growth trajectory is forecasted to propel the market value from USD 6,986.1 million in 2023 to an impressive USD 12,629.6 million by 2033. This burgeoning market presents a fertile ground for investors to explore opportunities in the rapidly expanding health and wellness sector.

Market Dynamics and Growth Drivers

The increasing adoption of vegan diets, fueled by rising health consciousness and ethical considerations, is a primary driver behind the growth of the vegan vitamins and supplements market. Consumers are increasingly seeking plant-based alternatives to traditional vitamins and supplements, recognizing the health benefits of natural, cruelty-free products. Social media platforms and online communities play a significant role in promoting vegan lifestyles, making vegan vitamins and supplements more mainstream and accessible.

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Competitive Landscape

The vegan vitamins and supplements market is characterized by intense competition, with key players continuously innovating to capture market share. Prominent companies such as VegLife, DuPont, Jarrow Formulas, Solgar Inc, DEVA, VitaminEnergy, NOW Foods, Natrol®, Garden of Life, Pure Encapsulations, Vitacost, HTC Health, Orgenetics, and Ora Organic are leading the charge. These companies are actively engaged in product launches, acquisitions, and collaborations to enhance their product portfolios and strengthen their market positions.

Regional Insights

North America holds the largest market share, driven by a high number of health-conscious consumers and the growing trend of plant-based diets. The region’s demand for vegan vitamins and supplements is bolstered by increasing awareness of the health benefits associated with plant-based nutrition. The North American market is projected to continue its growth momentum, with a strong focus on product innovation and consumer education.

Europe presents a thriving market for vegan vitamins and supplements, with consumers increasingly favoring health-conscious and cruelty-free products. The region’s stringent regulations on animal testing and a growing preference for natural remedies make it an attractive market for vegan supplements. European consumers’ awareness of health and wellness is driving the demand for vegan alternatives, creating significant growth opportunities for manufacturers.

The Asia Pacific region is emerging as a key growth area for vegan vitamins and supplements, driven by the increasing popularity of sustainable living and health-conscious lifestyles. The region’s rapidly growing population and rising awareness of health and environmental issues are fueling the demand for plant-based supplements. This trend presents substantial opportunities for market players to expand their reach and innovate to meet the evolving consumer preferences.

Historical vs. Future Outlook

From 2018 to 2022, the vegan vitamins and supplements market grew at a CAGR of 4.60%, reaching USD 6,678.9 million in 2022 from USD 5,579.3 million in 2018. The forecast period from 2023 to 2033 anticipates continued growth at a CAGR of 6.10%, highlighting the robust demand and market potential for vegan vitamins and supplements.

Market Segmentation and Opportunities

By Form: The market is segmented into soft-gels, capsules, liquids, tablets, and powder & granules, with each form catering to different consumer preferences and convenience.
By Nature: Products are available in synthetic and organic forms, with organic products gaining popularity for their perceived health benefits and sustainability.
By Distribution Channel: The market is segmented by distribution channels, including store-based retail, specialty stores, online retail, supermarkets, and hypermarkets. Online retail is emerging as a key channel, driven by the convenience of shopping from home and the growing trend of e-commerce.

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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.

The Psychobiotic Supplements Market Poised for Remarkable Growth, Driven by Rising Health and Wellness Consciousness

According to recent research by Future Market Insights, the global psychobiotic supplements market demand is projected to expand at a CAGR of 3.70% during the forecast period from 2023 to 2033. This growth trajectory is expected to elevate the market’s value from USD 140.3 million in 2023 to an impressive USD 201.8 million by 2033. This burgeoning market presents a prime opportunity for investors to capitalize on the increasing consumer demand for health and wellness products.

Discover Growth Potential: Explore our detailed market research study to identify high-potential sectors and strategic business opportunities.

Psychobiotic supplements, a novel category of probiotics, exert beneficial effects on the central nervous system by modulating the gut-brain axis. These supplements enhance gastrointestinal function while providing anxiolytic and antidepressant benefits through immunological, neurological, humoral, and metabolic pathways. The escalating consumer awareness of mental health and overall wellness is a significant driver of the psychobiotic supplements industry.

Competitive Landscape

The psychobiotic supplements market is highly competitive and diversified, with key players such as Lallemand Health Solutions Inc., DuPont, BioGaia, Uplift Food Pty Ltd., Kerry Group, NEURAXPHARM, Nature’s Bounty Co., Life Extension, Bened Biomedical Co., Ltd., and Lifted Naturals leading the charge. These companies are significantly boosting their R&D investments to develop innovative and unique psychobiotic products, striving to gain a competitive edge through novel applications.

Regional Insights

Holding the largest market share, North America’s psychobiotic supplements market is projected to grow at a CAGR of 11% from 2021 to 2028. This rapid growth is driven by the increasing prevalence of mental disorders, rising R&D investments, and growing consumer awareness about the benefits of psychobiotics. The expanding online sales channels further fuel market growth.

Europe is emerging as a lucrative market for psychobiotic supplements, thanks to a large consumer base aware of the potential benefits of these products. The European Union’s population of 450 million presents a substantial market for natural, scientifically-backed remedies for mental and physical well-being.

The Asia Pacific region is quickly becoming a hotspot for psychobiotic supplements. The region’s rapidly growing population and increasing awareness of mental health create a fertile ground for market expansion. Investment from venture capitalists and pharmaceutical companies is surging, driven by the large pool of potential customers and efficient manufacturing processes.

Historical Outlook vs. Future Forecasts

From 2018 to 2022, the psychobiotic supplements market grew at a CAGR of 3.50%, reaching USD 135.6 million in 2022 from USD 118.2 million in 2018. The forecast period from 2023 to 2033 anticipates continued growth at a slightly higher CAGR of 3.70%, highlighting the sustained demand and market potential for psychobiotic supplements.

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Category-wise Insights

Food Industry Support: The food industry plays a crucial role in the growth of the psychobiotic supplements market by integrating psychobiotic ingredients into everyday food products such as yogurt and cereals. This integration makes it easier for consumers to incorporate these beneficial microbes into their diets.
Application Growth: Psychobiotic supplements aimed at athletes and bodybuilders are gaining popularity due to their benefits in improving recovery times, performance levels, and reducing stress and fatigue. These supplements also aid in regulating metabolism and digestion, making them particularly appealing to those pursuing fitness goals.

Investment Opportunities

Investors are encouraged to explore opportunities within the psychobiotic supplements market, given its robust growth potential and consumer demand. Customizable reports are available, offering insights into specific countries or regions, enabling investors to tailor their strategies and maximize returns.

Key Segments

The psychobiotic supplements market is segmented by form (powder, capsules, liquid, tablets), application (food supplements, specialty nutrients, dietary supplements, nutritional supplements, infant formula), and distribution channel (store-based retail, specialty stores, online retail, supermarkets, hypermarkets). Key regions covered include North America, Latin America, Asia Pacific, Eastern Europe, Western Europe, and Japan.

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.