Artificial Intelligence in Telecommunication Market is Projected to Have a Robust CAGR of 28.5% by 2033 | FMI

The worldwide artificial intelligence in telecommunication market is expected to be worth USD 1,180.9 million in 2023 and USD 14,496 million by 2033, with a CAGR of 28.5% from 2023 to 2033.

The deployment of 5G technology in mobile networks, along with the increasing demand for reliable and effective network management approaches, has fueled the expansion of artificial intelligence in the telecommunications business.

Developing smartphone AI-embedded adoption and rising acceptance of AI solutions in various telecom sectors are predicted to drive consumption of artificial intelligence in telecommunication.

The demand for artificial intelligence in telecommunication is expected to grow as AI is increasingly deployed in customer care applications by telecom companies. Some of the significant trends in artificial intelligence in the telecommunications business are the usage of chatbots and virtual assistants to manage a large volume of setup, upkeep, and troubleshooting support requests.

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Governments throughout the world are hastening the implementation of 5G, recognizing the importance of modernization and demand in driving automation and artificial intelligence in the telecommunications business.

The Internet of Things (IoT), which is powered by cloud computing and AI, and digital change are likely to be propelled by fifth-generation wireless communication technologies across the business. Further, the rise in consumer demand for improved services and a more seamless customer experience is likely to accelerate the deployment of artificial intelligence in telecommunications.

Key Takeaways

  • The market expanded at a 26% CAGR over the last five years.
  • By 2033, North America is expected to account for the second highest portion, with a value of USD 2,100 million.
  • By 2033, the consumer analytics category is expected to have a significant market share, with a valuation of USD 2,350 million.
  • Europe is expected to dominate the artificial intelligence market in telecommunications by 2033, with a CAGR of 26.5% from 2023 to 2033.
  • The Middle East and Africa (MEA) market is expected to be worth USD 500 million.

Competitive Landscape

  • In July 2023, the Telecom Regulatory Authority of India (TRAI) made recommendations for the deployment of artificial intelligence and big data in the telecommunications business. Among the key issues addressed in these ideas are the creation of an AI regulator and a wider scope for TRAI’s contribution to spam control.
  • In August 2023, Alepo released TelcoBot.ai, a generative AI chatbot system designed exclusively for telecommunications companies to optimize productivity, increase customer help and engagement, collect critical consumer information, and prioritize safeguarding data.

Key Players

  • IBM Corporation
  • Microsoft
  • Intel Corporation
  • Google
  • AT&T Intellectual Property
  • Cisco Systems
  • Nuance Communications, Inc.
  • Evolv Technology Solutions, Inc.
  • H2O.ai
  • Infosys Limited
  • Salesforce.com, Inc.
  • NVIDIA Corporation

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global Artificial Intelligence in Telecommunication market presenting a historical analysis from 2018 to 2022 and forecast statistics between 2023 and 2033.

The study reveals essential insights by Deployment (Cloud-based, On-premises), Application (Network Security, Network Optimization, Customer Analytics, Virtual Assistance, Self-Diagnostics, Others), and Region.

Artificial Intelligence in Telecommunication Market: Key Segmentation

By Deployment:

  • Cloud-based
  • On-premises

By Application:

  • Network Security
  • Network Optimization
  • Customer Analytics
  • Virtual Assistance
  • Self-Diagnostics
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia & Pacific
  • East Asia
  • The 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.

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Vegan Dressing Market Poised for Significant Growth, Forecasted to Reach USD 2,453.4 Million by 2032 Amid Rising Health Consciousness and Demand for Plant-Based Diets

Vegan Dressing
Vegan Dressing

The global demand for vegan dressing is projected to experience a substantial increase, growing from USD 1,450 Million in 2022 to an impressive USD 2,453.4 Million by 2032. According to Future Market Insights, this growth corresponds to a steady CAGR of 5.4% from 2022 to 2032, a notable rise compared to the 4.1% CAGR observed between 2017 and 2021.

The increasing awareness of health and wellness, coupled with a surge in demand for plant-based diets and veganism, is propelling the vegan dressing market forward. Consumers are becoming more mindful of their dietary choices, seeking options that promote weight control and provide essential nutrients. This shift in consumer preferences is significantly driving the demand for vegan dressings, making them an ideal choice for health-conscious individuals.

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Market Growth and Trends:

The vegan dressing market is anticipated to show rapid growth, particularly in the adoption of natural and organic ingredients that offer health benefits such as weight management and blood pressure regulation. The trend towards healthy eating habits is expected to fuel the demand for vegan dressings, which are increasingly seen as a healthier alternative to traditional dressings.

From 2017 to 2021, the vegan dressing market experienced steady growth, driven by growing concerns about health and obesity. The rising popularity of salads and other healthy food items has positively impacted the market. Despite disruptions in the supply chain due to the COVID-19 pandemic, the market is recovering and is expected to expand significantly as economies stabilize and consumer demand for nutritious food products increases.

Key Drivers of Market Growth:

  • Health Consciousness: Growing health awareness among consumers is a primary driver of the vegan dressing market. Consumers are increasingly opting for plant-based diets that aid in weight management and provide essential nutrients.
  • Natural and Organic Ingredients: The adoption of natural and organic ingredients in vegan dressings is a significant factor contributing to market growth. These ingredients offer numerous health benefits, including weight control and blood pressure regulation.
  • Convenience and Ready-to-Eat Products: The demand for convenience and ready-to-eat food items is rising, further boosting the vegan dressing market. Vegan dressings are increasingly used in fast food items such as sandwiches and burgers, making them a popular choice among consumers.
  • Consumer Preferences: The increasing inclination towards continental cuisines and the growing awareness of vegan salad dressings are expected to drive market demand. Additionally, the rising number of lactose-intolerant individuals is likely to influence the sales of vegan dressings, spreads, and sauces.

Regional Insights:

  • United States: The U.S. is projected to dominate the North American vegan dressing market, accounting for approximately 81% of the market share by 2032. This dominance is attributed to the growing health consciousness among American consumers and their preference for healthy eating habits.
  • Asia Pacific: The Asia Pacific region is expected to exhibit significant growth in the vegan dressing market. Emerging economies such as China, India, and Japan are anticipated to be lucrative markets for vegan dressing producers due to the increasing demand for high-quality and diverse food products.

Category-Wise Insights:

  • Commercial Applications: The commercial application of vegan dressings, particularly in fast food items, is expected to account for about 60% of the global market by 2022 end. This segment is likely to grow at the highest rate, driven by the demand for vegan dressings in sandwiches, burgers, and other fast food items.
  • Online Retail: The online retail segment is the fastest-growing distribution channel for vegan dressings. As consumers increasingly prefer online shopping for convenience, the demand for vegan dressings through online retailers is expected to rise significantly.

Competitive Landscape:

The global vegan dressing market is moderately competitive, with key players holding 35% to 40% of the market share. Leading companies are focusing on mergers, acquisitions, collaborations, and alliances to expand their market presence. Additionally, the adoption of new technologies to develop innovative products and the expansion of sales channels are creating a larger customer base.

Key Players:

  • McCormick & Company
  • The Kraft Heinz Company
  • Kikkoman Corporation
  • ConAgra Food Inc.
  • Sweet Baby Ray’s
  • Litehouse, Inc.
  • Red Duck Foods, Inc.
  • Majestic Garlic
  • Bear Pond Farm
  • KENSINGTON & SONS
  • Follow Your Heart
  • Daiya Foods Inc.
  • Meridian Foods Limited
  • Amy’s Kitchen, Inc.
  • B&G Foods, Inc.

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Global Vegan Dressing Market By Category

By Product Type, Global Vegan Dressing Market is segmented as:

  • Vinaigrettes
  • Mayonnaise
  • Ranch Dressing
  • Blue Cheese
  • Caesar Dressing
  • Other Creamy Dressing

By Application, Global Vegan Dressing Market is segmented as:

  • Residential
  • Commercial
    • Restaurants
    • Cafes
    • Quick Food Service Outlets
    • Others

By Distribution Channel, Global Vegan Dressing Market is segmented as:

  • Indirect
    • Hypermarket/Supermarket
    • Convenience Stores
    • Independent Retailers
    • Specialty Stores
    • Online Retailers
    • Other Retail Formats
  • Direct

By Region, Global Vegan Dressing Market is segmented as:

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

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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.

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European Bitumen Modifier Market Forecast: Projected Growth to USD 2,276.7 Million by 2034 with a 4.5% CAGR

Europe Bitumen Modifier Industry
Europe Bitumen Modifier Industry

The Europe bitumen modifier industry is anticipated to experience substantial growth, with its market value expected to rise from USD 1,459.2 million in 2024 to USD 2,276.7 million by 2034. This represents a robust compound annual growth rate (CAGR) of 4.5% over the forecast period. The increased demand for bitumen modifiers is driven by their enhanced performance characteristics, which are crucial for improving the durability and quality of road construction and maintenance projects across the region.

The thermoplastic polymers/plastomers segment is expected to dominate the Europe industry, holding a volume share of 38.1% in 2024. On the other hand, the thermoplastic elastomers segment is set to grow at a higher CAGR of 5.4% through 2034.

Multiple factors are expected to drive the growth of the Europe bitumen modifier industry during the assessment period. These include robust infrastructure development and increasing awareness about the benefits of bitumen modifiers. At the same time, the growing preference for sustainable pavements in the Europe construction industry is expected to aid demand. Increasing government regulations regarding road quality, safety, and environmental impact are anticipated to drive growth.

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Bitumen modifiers are witnessing steady demand across Europe, and the trend is expected to continue during the assessment period. This is due to their ability to enhance the performance of bitumen.

Increasing infrastructure projects across Europe, such as road construction and airport runways, are expected to propel bitumen modifier demand. These modifiers increase bitumen’s longevity, resilience, and performance, thereby ensuring the reliability and sustainability of vital transportation networks and infrastructure systems.

European nations like Germany and the United Kingdom are witnessing a rise in building renovation projects. This is anticipated to create a high demand for bitumen modifiers during the assessment period.

Rising need for durable and sustainable infrastructure solutions in Europe due to rapid urbanization is anticipated to foster industry growth. Similarly, increasing heavy load traffic and extreme weather conditions will likely fuel bitumen modifier sales in Europe during the assessment period.

“The bitumen modifier industry in Europe is poised to witness healthy growth due to increasing demand for durable road infrastructure, escalating construction activities, and rising awareness about the benefits of modified bitumen in enhancing road performance and longevity. As industries in Europe continue to expand and modernize, there is a growing need for high-quality infrastructure to support economic development.” – Says an analyst at Future Market Insights, Inc.

Key Takeaways from the Report

  • The Europe bitumen modifier industry is projected to reach USD 2,276.7 million by 2034.
  • By product type, the thermoplastic polymers/plastomers segment is set to total USD 821.2 million by 2034.
  • By application, the road construction segment is expected to hold a value share of 75.7% in 2024.
  • Germany is expected to account for a significant share of about 18.2% in 2034.
  • Revenue in Russia is anticipated to reach USD 367.4 million by 2034.
  • Demand in the Czech Republic is predicted to rise at 6.8% CAGR through 2034.

Competitive Landscape

The Europe bitumen modifier industry is consolidated, with top players accounting for about 75% to 80% share.

Top Key Companies Profiled

  • TotalEnergies
  • ExxonMobil Corporation
  • China Petroleum & Chemical Corp (Sinopec Corporation)
  • BASF SE
  • Sika AG
  • Evonik Industries AG
  • Honeywell International
  • Arkema S.A.
  • KRATON Corporation
  • Innospec Inc.
  • Connect Chemicals
  • The DOW Company
  • DuPont
  • Zydex Group
  • ValoChem

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Europe Bitumen Modifier Industry Segmentation

By Product Type:

  • Thermoplastic Polymers/Plastomers
    • Polyethylene
    • Polyvinyl Chloride
    • Polystyrene
    • Ethyl Vinyl Acetate
    • Atactic Polypropylene (APP)
    • Others (PU, PMMA)
  • Elastomers
    • Natural Rubber
    • Crumb Rubber
    • Synthetic Rubber
      • Polyisoprene Butyl Rubber
      • Styrene Butadiene Rubber
      • Styrene Isoprene Styrene (SIS)
      • Styrene Butadiene Styrene (SBS)
      • Styrene Ethylene Butylene Styrene (SEBS)
      • Others (Silicone, Nitrile Rubber)
  • Thermoplastic Elastomers
    • Styrenic Block Copolymers
    • Polyolefin Blends
    • Thermoplastic Polyurethane
    • Others (EVA, PEBA)
  • Thermosetting Polymers
    • Phenolic Resins
    • Epoxy Resins
    • Urea Formaldehyde Resins
    • Melamine Formaldehyde Resins
    • Polyurea Resins
  • Chemical Modifiers
    • Phosphorous Compounds
    • Maleic Anhydride
    • Elemental Sulphur
    • Fatty Amine Derivatives
    • Others

By Applications:

  • Road Construction
    • Airfield Runways
    • Railway Tracks
    • Roads
  • Roofing
  • Waterproofing

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.

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Website: https://www.futuremarketinsights.com
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Healthcare Contact Center Solution Market is Supposed to Rise at a CAGR of 19.9% by 2033 | Future Market Insights, Inc.

The global healthcare contact center solutions market is projected to be worth US$ 7,999.6 million in 2023. The market is expected to reach US$ 49,256.8 million by 2033, expanding at a CAGR of 19.9% from 2023 to 2033.

The need for patient-centric care, which forces healthcare organizations to adopt contact center solutions for simplified patient contacts, prompt issue resolution, and precise information distribution, is driving this spike.

In addition, using digital technologies like chatbots, virtual assistants, and artificial intelligence improves operational effectiveness, encourages self-service alternatives, and raises the entire customer experience. Through operational simplification and self-sufficiency, this technological integration also reduces healthcare expenses.

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Key Takeaways from the Healthcare Contact Center Solution Market:

  • North America emerges as a prominent player, taking the lead with a market share of 23.2%. This underscores the highly developed technological infrastructure and strategic application in the region.
  • Europe closely follows with a substantial market share of 21.3%, highlighting its significant role in healthcare contact center solutions. The region’s commitment to advanced healthcare communication is evident.
  • The United States stands out with an impressive 23.2% adoption rate, solidifying its position as a major force behind healthcare contact center solutions. Its robust contribution drives industry growth.
  • With an adoption rate of 20.1%, Germany showcases a considerable market presence. This underscores the nation’s commitment to cutting-edge healthcare communication solutions.
  • Japan demonstrates noteworthy market leadership with an adoption rate of 22.3%. This reflects the nation’s dedication to advanced healthcare communication solutions.
  • In Australia, adoption is encouraging at 10.4%, signifying the growing importance of healthcare contact center solutions in the region’s healthcare sector.
  • China’s modest yet promising adoption rate of 5.2% reflects the increasing relevance of contact center solutions within the country’s healthcare landscape.
  • India’s adoption rate of 2.9% highlights the rising significance of healthcare contact center solutions in the nation’s healthcare industry.
  • With a consistent adoption rate of 18.2%, the United Kingdom is in a solid position to compete in the healthcare contact center solutions market.
  • The market demonstrates its potential for growth, innovation, and increased patient participation globally, with adoption rates continuously exceeding 18% for most areas.

Competitive Landscape

Major players compete in the extremely competitive market for healthcare contact center solutions, each with specific advantages and disadvantages, always promoting innovation to meet the changing demands of healthcare organizations. The demand for patient-centered care is surging, driving the quick adoption of cutting-edge digital technologies like chatbots and virtual assistants that AI powers.

Through process automation and self-service integration, these technologies improve efficiency and reduce costs as healthcare expenses rise. Healthcare rules like HIPAA and GDPR, which are becoming more complex, drive the demand for safe and compliant communication solutions. The market is poised to retain fierce competition in the face of these dynamics, and businesses are expanding globally to take advantage of undiscovered prospects.

Cisco Systems: The industry leader in networking and security solutions is Cisco Systems. Their contact center solutions assist healthcare organizations in enhancing productivity, efficiency, and patient satisfaction. The capabilities offered by Cisco’s solutions include analytics, workforce management, and omnichannel support.

Genesys: The leading supplier of contact center solutions is Genesys. Their products are made to assist healthcare organizations in providing better patient care, increasing operational effectiveness, and lowering costs. The solutions provided by Genesys have a wide range of capabilities, such as workforce optimization, predictive analytics, and chatbots driven by AI.

Avaya: The market leader in communications and collaboration software is Avaya. Healthcare organizations may increase the effectiveness and efficiency of their customer service operations with the help of their contact center solutions. The solutions provided by Avaya have a wide range of functions, such as workforce management, omnichannel support, and cloud-based contact center software.

Oracle: The market leader in business software is Oracle. Their contact center solutions are intended to aid healthcare organizations in enhancing patient care, cutting expenses, and adhering to regulations. Oracle’s solutions come with various capabilities, such as analytics, omnichannel support, and cloud-based contact center software.

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Other Key Players

  • Aspect Software
  • Invensys
  • DATAMARK Incorporated
  • Aspect
  • Ozonetel
  • Virtusa Corporation

Healthcare Contact Center Solution Market: Segmentation

By Deployment:

  • On-premises
  • Cloud-based

By Application:

  • For Workforce Optimization
  • For Customer Relationship Management
  • For Interactive Voice Response
  • For Other Applications

By Service:

  • Professional
  • Managed

By Enterprise Type:

  • For SMBs
  • For Large Enterprises

By 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 over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Global Titanium Diboride Market Set for Robust Growth: Projected to Reach USD 114.3 Million by 2034

 

Titanium diboride is a ceramic material known for its exceptional hardness, high melting point, and resistance to corrosion & wear. These properties make it an attractive choice for a wide range of industrial applications, including aerospace, automotive, electronics, defense, and more.

The global titanium diboride market is poised for substantial growth, with projections indicating a compound annual growth rate (CAGR) of 6.7% over the assessment period. Starting from an estimated value of USD 60.0 million in 2024, the market is expected to expand significantly, reaching USD 114.3 million by 2034.

In the aerospace sector, titanium diboride is used in the manufacturing of turbine blades, engine components, and structural parts due to its lightweight nature and ability to withstand high temperatures. Its use contributes to improved fuel efficiency, performance, and durability of aircraft. Titanium diboride finds applications in the electronics industry for manufacturing electronic components, as well as in the defense sector for producing armor materials, protective coatings, and ballistic-resistant materials.

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The use of titanium diboride in armor technology is driving innovation in the development of next-generation protective solutions. These range from personal body armor and vehicle armor to fortified structures and military vehicles.

As threats evolve and become more sophisticated, demand for advanced armor materials continues to expand. Titanium diboride’s unique properties make it a leading choice for meeting these evolving needs, providing enhanced safety and security for personnel and assets in several operational environments.

As titanium diboride is known for its significant thermal conductivity, high melting point, and exceptional resistance to corrosion, titanium diboride emerges as a game-changer in transforming multiple aspects of nuclear technology. The nuclear industry needs materials that are capable of withstanding extreme conditions while maintaining reliability and safety.

The properties of titanium diboride are particularly crucial for applications such as fuel cladding, where optimal temperature management is essential for sustained reactor performance and safety. Its high melting point ensures structural integrity and stability under extreme heat, providing an additional layer of safety assurance in nuclear operations. It can withstand temperatures exceeding 3000°C, which makes it an ideal material for critical components within reactors, including control rods and structural elements.

Key Takeaways from the Report

  • The global titanium diboride market is projected to thrive at 7% CAGR through 2034.
  • By end-use application, the aerospace components segment is expected to rise at 4% CAGR through 2034.
  • By product type, nanostructured titanium diboride is projected to thrive at 7% CAGR through 2034.
  • East Asia is expected to account for a significant share of about 5% in 2034.
  • Demand in India is predicted to rise at 3% CAGR through 2034.
  • China’s market is projected to thrive at 8% CAGR from 2024 to 2034.

“The future growth prospects of the global titanium diboride market appear promising due to increasing demand from aerospace, automotive, and electronics industries. Growth is driven by its superior properties, including high melting point, hardness, and corrosion resistance. Companies are participating in research & development activities aimed at enhancing titanium diboride’s applications.” — says an analyst at Future Market Insights (FMI).

Competitive Landscape

The global titanium diboride market is fragmented, with leading players accounting for about 30 to 35% share. Momentive Technologies, 3M, Höganäs, Plansee, Fisher Scientific (Thermo Fisher), Sigma-Aldrich (MilliporeSigma), Nanografi Nano Technology, Treibacher, Nanoshel, Stanford Advanced Materials, US Research Nanomaterials, Inc., American Elements, Dongguan SAT nano technology material Co., LTD, ChemScence LLC, Guangzhou Hongwu Material Technology Co., Ltd., Hunan Huawei Jingcheng Material Technology Co., Ltd., and Hunan Fushel Technology Limited are the leading companies that offer titanium diboride.

Recent Developments in Titanium Diboride Market-

  • In May 2023, H.C. Starck launched a new grade of titanium diboride powder for additive manufacturing applications, offering improved properties for the aerospace and automotive sectors.
  • In September 2023, Momentive partnered with a leading aerospace company to develop advanced composite materials using titanium diboride nanoparticles for lightweight structural components.

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Titanium Diboride Market Segmentation

By Product Type:

  • Bulk
  • Nanostructured

By End-use Application:

  • Cutting Tools
  • Wear-resistant Coatings
  • Armor Materials
  • Refractory Materials
  • Electrodes and Electrical Contacts
  • Composite Materials
  • Thermal Barrier Coatings
  • Nuclear Applications
  • Aerospace Components

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Central Asia
  • Russia & Belarus
  • Balkan & Baltics
  • East Asia
  • South Asia Pacific
  • 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 ~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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Direct Reduced Iron Market Projected to Reach USD 60,013.60 Million by 2034, Expanding at a 7.60% CAGR

Direct Reduced Iron Market
Direct Reduced Iron Market

The direct reduced iron market value is expected to rise from USD 28,195.90 million in 2024 to USD 60,013.60 million by 2034. This market is analyzed to surge ahead at a CAGR of 7.60% over the next decade.

Significant changes in the steel industry are pushing forward the demand for direct reduced iron. Presently, the steel industry is going through a pivotal shift toward lower-carbon production. This is raising the demand for alternative technologies like direct reduced iron.

The production of direct reduced iron is projected to separate from steel production, as the global steel sector gradually decarbonizes. More iron ore is expected to be processed in places where renewable energy sources are available and where cheap green hydrogen can be produced.

The resultant direct reduced iron is planned to be shipped to places with higher steel demand. Going forward, North America and the Middle East are assessed to become global leaders in DRI trade.

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Key players are investing in new establishments and technologies to propel their growth,” says an analyst of Future Market Insights.

Key Takeaways from the Direct Reduced Iron Market Report

  • Direct reduced iron (DRI) market attained a valuation of USD 23,375.80 million in 2019. By 2023, the market attained a value of USD 26,470.50 million, expanding at a CAGR of 2.50% over the historical period.
  • By form, the lumps segment is predicted to account for a value share of 97.60% in 2024.
  • Based on the production process, the gas-based direct reduced iron is predicted to acquire a share of 71.40% in 2024.
  • India and China are predicted to record a CAGR of 11.30% and 8.40%, respectively, over the forecast period.
  • In North America, the United States is set to expand at a CAGR of 4.20% over the forecast period, whereas Canada is slated to register a CAGR of 4.60% during the same time.
  • In Europe, Spain and France are in line to observe significant CAGRs of 5.60% and 5.30% over the forecast period.

New Developments in the Market

  • In November 2023, JSW Steel Ltd., a prominent maker of alloy in India, announced plans to develop a green steel manufacturing facility by the year 2030. This is in response to the European Union’s (EU’s) Carbon Border Adjustment Mechanism (CBAM).
  • In August 2023, H2 Green Steel signed agreements with Rio Tinto for a flat reduction of iron ore pellets and hot briquetted iron in Sweden.

Profile of Top Players Operating in Direct Reduced Iron Market

  • ArcelorMittal

ArcelorMittal S.A., based in Luxembourg City, is a multinational steel manufacturing corporation. The company develops smarter steels for people and the planet as the metal becomes an even more relevant component in manufacturing.

  • Mobarakeh Steel

Mobarakeh Steel is a private Iranian steel firm that is located 65 km southwest of Esfahan, close to Mobarakeh, Iran. It is a prominent steel entity in the MENA region and has a substantial complex operating in Iran. The company offers extensive services in specialized fields of the steel industry and provides them in all parts of Iran.

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Direct Reduced Iron Market Key Players

  • ArcelorMittal
  • Mobarakeh Steel
  • Essar Steel
  • Qatar Steel
  • Hadeed
  • SIDOR
  • Khouzestan Steel Co.
  • Jindal Steel & Power
  • Gol-e-Gohar
  • Nucor
  • Others

Market Segmentation of Direct Reduced Iron

Bifurcation by Form:

  • Lump
  • Pellets

By Production Process:

  • Coal-based
  • Gas-based

Based on Application:

  • Steel Making
  • Construction

Based on Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

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.

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Global Hall-Effect Current Sensor Market to be Worth USD 2,765.0 Million by 2032: Future Market Insights, Inc.

The hall-effect current sensors market is anticipated to reach USD 1128.0 million in 2022 and increase to USD 2765.0 million by 2032, between 2022 and 2032 at a CAGR of 9.4%. Consumer electronics, the automotive industry, and industrial automation are examples of end-use industries where demand is growing.

From 2016 to 2021, the market for hall-effect current sensors grew by 7.4%. The Hall-effect current sensor is used in a variety of items, including solar inverters, tracking solar panels, conveyor belts, escalators, moving cranes, consumer electronics, and cars. The increased demand for current measurement has increased the demand for Hall-effect current sensors.

The hall-effect current sensor uses the hall-effect principle and is a magnetic sensor that can detect current in any device.

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Global Hall-Effect Current Sensor Market: Market Dynamics 

Rising use of fully programmable current sensors due to the continuous technological advancements and the developmental strategies implemented such as contracts and agreements, product developments, partnerships, and expansions implemented by competitive players are the primary factors driving the growth of the market. 

Also, Hall Effect sensors offer various benefits such as high-speed operations, broad operating temperature range, ease of use, cost-effectiveness, and robust & reliable performance with logic-compatible input and output. These are some necessary features are required for the advanced electronics that we use today. 

Also, the Hall-Effect Current Sensor is a critical component in almost every industry. Like in automotive industry, the Hall-Effect Current Sensor is used for applications such as current control, protection of devices from overcurrent, and power management including control of motor drives, converter control, overcurrent protection, and battery management. Also, the rising demand for electric vehicles is expected to drive the market in near future. 

However, low-cost Hall-Effect Current Sensors with poor performance can thwart the growth of the Hall-Effect Current Sensor market.

Market Competition

Some of the key participants present in the global hall-effect current sensor market include ABB Ltd, Honeywell International, Inc., STMicroelectronics N.V., Allegro MicroSystems LLC., Asahi Kasei Microdevice Corporation, Infineon Technologies AG, Melexis NV, LEM Holding SA, TDK Corporation and Kohshin Electric Corporation among others.

Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as ABB Ltd, Honeywell International, Inc., STMicroelectronics N.V., and Allegro MicroSystems LLC. account for considerable market size, several regional level players are also operating across key growth regions, particularly in the Asia Pacific.

Global Hall-Effect Current Sensor Market: Regional Outlook 

Regionally, the global Hall-Effect Current Sensor market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan. 

The APAC region is expected to be the fastest-growing region for the Hall Effect current sensors market. The major reason is the increasing adoption of Hall Effect current sensors in automotive industries. While North America, an early adopter of the technology exhibited significant growth, the trend is expected to continue over the forecast period. 

In the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D) to increase accuracy and thus is expected to boost market growth. 

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Key Segments Profiled in the Hall-Effect Current Sensor Industry Survey

Hall-Effect Current Sensor Market by Technology:

  • BiCMOS
  • CMOS
  • High Power Dissipation
  • Low Input Density
  • High Current Drive

Hall-Effect Current Sensor Market by Industry:

  • Industrial Automation
  • Automotive
  • Consumer Electronics
  • Telecommunication
  • Utilities
  • Medical
  • Railways
  • Aerospace & Defense

Hall-Effect Current Sensor Market by Region:

  • North America Hall-Effect Current Sensor Market
  • Latin America Hall-Effect Current Sensor Market
  • Western Europe Hall-Effect Current Sensor Market
  • Eastern Europe Hall-Effect Current Sensor Market
  • Asia Pacific Hall-Effect Current Sensor Market
  • Japan Hall-Effect Current Sensor Market
  • Middle East and Africa Hall-Effect Current Sensor Market

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:     

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Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Asia Pacific Bentonite Industry Set for 5.9% CAGR Growth Driven by Rising Demand in Personal Care and Cosmetics Sector

Asia Pacific Bentonite Market
Asia Pacific Bentonite Market

 

The Asia Pacific bentonite industry is estimated to expand at 5.9% CAGR over the forecast period. Increasing demand from the personal care and cosmetics sector is expected to augment the growth in the market over the assessment period.

Bentonite’s excellent features such as water absorption capacity, detoxification, and acne treatment make it ideal for use in various personal care and cosmetics products. Bentonite clay is used in sunscreen, hair cleansers, and softeners. It is also used as a thickener, absorbent, filler, texturizer, and binder in various skin and hair care products and color cosmetics.

Moreover, growing trend of using organic products is compelling personal care product manufacturers to shift towards eco-friendly and chemical-free products that are equally effective. Bentonite is a natural absorbent and does not have any severe side effects on health.

Owing to the eco-friendly nature of bentonite, its increasing application in the personal care industry is anticipated to propel the growth of the Bentonite market in recent years.

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“Increasing demand for organic personal care and cosmetic products across the globe, along with increasing investments in the pharmaceutical sector across India and China will augment the growth in the market,” says an FMI analyst.

Key Takeaways:

  • The Asia Pacific bentonite market is expected to attain a value of over US$ 116,799.7 Th by the end of the forecast period growing at a CAGR of 5.9% over the forecast period.
  • Rising demand for bentonite for usage in sunscreen, hair cleanser, and softener in personal care sector is expected to propel the growth in the market in recent years.
  • Bentonite is used in the pharmaceutical industry owing to its absorption property, high Alkalinity, and Antibacterial properties.
  • China is the second-largest pharmaceutical market in the world owing to this reason China is predicted to be the leading country in terms of Bentonite consumption.

Competitive Landscape

Ashapura Group, Kunimine Industries Co. Ltd, Wyo-Ben Inc, Manek Mineral Group, Arumpo Bentonite Pty Ltd, Organic Industries Pvt. Ltd, Swell Well Minechem Pvt. Ltd., Dae Minerals Co., Ltd, Nova Gas Technologies Inc., Boc Gases Ireland Inc., and various others are some of the key manufacturers of bentonite.

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Asia Pacific Bentonite Market by Category

By Product Type:

  • Aluminum
  • Calcium
  • Sodium
  • Other

By Application:

  • Absorbent
  • Anti-inflammatory agent
  • Carrier/Formulator
  • Oral Care
  • Thickener
  • Others

By End Use:

  • Animal Care
  • Ceramics
  • Crop Protection
  • Personal Care
  • Pharmaceutical

By Country:

  • China
  • India
  • Japan
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • South Korea
  • Rest of Asia Pacific

What are the Opportunities for Bentonite Manufacturers in Asia Pacific?

The combination of bentonite and cyclodextrin has the potential to promote a variety of chemical reactions in aqueous solutions under ultra-sonication, including the synthesis of xanthan, knoevenagel condensation, and octa hydro quinazolinones. It can also function as a catalyst in esterification reactions.

In the chemical industry, a catalyst is extremely important. The chemical sector is expanding due to the strong demand for specialty and commodity chemicals, which will provide opportunities for growth in the bentonite market.

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
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Global Cosmetic Chemicals Market to Reach USD 26.84 Billion by 2032 with a CAGR of 5.4%

Cosmetic Chemicals Market
Cosmetic Chemicals Market

 

The global cosmetic chemicals market, currently valued at USD 15.89 billion, is projected to experience significant growth, reaching an estimated USD 26.84 billion by 2032. This expansion, occurring at a compound annual growth rate (CAGR) of 5.4% from 2022 to 2032, underscores the increasing demand for cosmetic products worldwide. This growth is driven by the rising consumer awareness regarding personal grooming, advancements in cosmetic formulations, and a growing preference for high-quality skincare and beauty products.

Ingredients most commonly used in cosmetics are inclusive of preservatives, emulsifiers, moisturizers, thickeners, fragrances, and colors. They could be devised either naturally or synthetically. One could also derive synthetic chemicals from the natural products like bio- or petroleum-based ingredients. However, manufacturing process involved in synthesizing these chemicals is pretty complex. Moreover, as they are ‘derived’, they are categorized as synthetic. The natural products are inclusive of microbial, animal, mineral, and plant.

Elevance Renewable Sciences, Inc. is a manufacturer of specialty chemicals that develops as well as markets the emollients formulated by using the patented technology from various plant-based products for usage in cosmetics, skin lotions, and hair styling products.

Constructive disruption in cosmetic chemicals market is expected to take place through incorporation of technological advancements. On these grounds, Givaudan is making use of plant cell culture as well as phyto peptides technology for developing skin care products. Extensive research is being conducted by the key participants for developing sustainable products to address customers’ demands with growing inclination toward organic and natural cosmetic products.

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Moisturizers and emollients hold more than 30% of the market share. Emollients are known for softening the skin by prevention of water loss. The applications include skin moisturizers, body lotions, lipsticks, and face creams. They get sold at commercial level in both – synthetic and natural forms. Emollients broadly used include coconut oil beeswax, olive oil, lanolin, glycerine, petrolatum (petroleum jelly), zinc oxide, mineral oil, butyl stearate, and diglycol laureate.

Preservatives are added to cosmetics products during their formulations with the objective of extending shelf life and checking the proliferation of fungi and bacteria. The preservatives commonly used are inclusive of benzyl alcohol, parabens, formaldehyde, salicylic acid, and EDTA (tetrasodium ethylenediaminetetra-acetic acid). Players like COBIOSA do develop as well as distribute chemicals pertaining to skin care formulations. These chemicals are developed from botanicals inclusive of camelina, polyphenols, collagen, algae, and insects as well. Future Market Insights has walked through these findings with future perspectives in its latest market study entitled ‘Cosmetic Chemicals Market’. It has its line of expertise in the form of analysts and consultants to do the things.

Key Takeaways from Cosmetic Chemicals Market

  • North America holds more than 34% of the market share. This could be credited to cosmetic chemicals being increasingly used to manufacture organic personal care products.
  • Europe holds a significant market share in the cosmetic chemicals market. This could be credited to growing demand for the cosmetic products that are formulated through natural ingredients.
  • The Asia-Pacific is expected to grow at the fastest rate in the cosmetic chemicals market due to countries like China and India being subject to rising buying power.

Competitive Chemicals

  • Knowlton Development Corporation, in February 2020, announced that it had completed acquisition of Shanghai Paristy Daily Chemicals.
  • Knowlton Development Corporation (KDC/ONE), in December 2019, entered into partnership with HCT Group for creating end-to-end solutions provider for catering to personal care & beauty vertical. The latter is a leader at the global level with respect to provision of full-service solutions of the cosmetic products related to production, filling, design, formulation, and logistics.
  • Companies do take part in several events as well as exhibitions for promoting the product portfolio and improvising on customer base. On these grounds, Solvay (a multi-specialty chemical company) had attended ‘In-Cosmetics London 2017’ for showcasing company’s formulations related to hair, skin, and body care.

“Growing demand for cosmetic products, that too, formulated with various natural ingredients is expected to drive the cosmetic chemicals market”, says an analyst from Future Market Insights.

The key companies profiled include Akzo Nobel NV, Ashland Incorporated, Active Organics, BASF SE, Berkshire Hathaway Incorporated, Bayer AG, Clariant International Limited, Dow Chemical Company, Eastman Chemical Company, Evonik Industries AG, Emery Oleochemicals Group, FMC Corporation, Novecare, Integrated Botanical Technologies, Pilot Chemical Company, Procter & Gamble Company, Solvay SA and United-Guardian Incorporated among others.

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Key Segments Profiled in the Cosmetic Chemicals Industry Survey

Product:

  • Cosmetic Surfactants
  • Cosmetic Polymer Ingredients
  • Cosmetic Colorants
  • Cosmetic Preservatives

Application:

  •  Cosmetic Chemicals for Skin Care
  •  Cosmetic Chemicals for Hair Care
  •  Cosmetic Chemicals for Make-Up Applications
  •  Cosmetic Chemicals for Oral Care
  •  Cosmetic Chemicals for Fragrances
  •  Cosmetic Chemicals for Other Applications

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Japan
  • 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 ~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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Bioactive Ingredient Market Set to Surge, Expected to Reach USD 395.73 Billion by 2033 with a 7.8% CAGR, Driven by Rising Demand for Natural Dietary Supplements

Bioactive Ingredient Market
Bioactive Ingredient Market

The bioactive ingredient market is expected to be valued at US$ 186.73 billion in 2023 and is likely to surpass US$ 395.73 billion by 2033. The sales of bioactive ingredients are projected to record a CAGR of 7.8% during the forecast period (2023 to 2033).

Dietary supplements are preferred by customers as they are made with natural components that improve health and wellness. As a result of the increased demand for natural-based ingredients, the adoption of bioactive compounds is expected to surge in a diverse range of food products.

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Further, growing focus on food safety issues has raised awareness for transparency and traceability. Hence, key players such as such as Cargill, Incorporated, CP Kelco, Ingredients AG, and Ingredion Incorporated are providing labeled products to capitalize on growing clean label trends.

Subsequently, increasing use of macronutrients including fibers, carbs, proteins, and fats in various ready-to-mix & eat products is driving the demand in the market. On the back of these factors, the bioactive ingredient market is projected to surpass US$ 55.4 Bn by the end of 2032.

Key takeaways from market study

Based on product type, the antioxidants segment is expected to witness highest growth over the forecast period (2022-2032).

North America bioactive ingredient market is expected to witness a lucrative growth rate of 6.8% CAGR during the assessment period.

East Asia is anticipated to account for 17.8% in the global bioactive ingredient market through 2032.

Based on application, functional food & beverages is anticipated to account for around 25.6% of the market share over the forecast period.

Key bioactive ingredient producers are actively exploring the applications through various research institutions, public research universities, and crop institutes across the globe. Also, increased demand for packaged and healthy food products is propelling the demand in the market.” says a lead analyst at Future Market Insights.

Competitive landscape

The global bioactive ingredient market is expected to be consolidated. Key players in the market are focusing on expansion of their product line to strengthen their foothold in the industry. Expansion in emerging economies such as India and China is a key strategy adopted by leading players to increase their revenue.

Some of the key players operating in the bioactive ingredient market are Dupont, Royal DSM, Cargill Inc., Archer Daniels Midland, BASF, Koninklijke DSM N.V., AJINOMOTO CO., INC, Arla Foods, FMC Corporation, Ingredion Incorporated, Roquette Frères S.A., Kerry Inc, Total Nutrition, Inc, Danone SA, Nestlé SA Valio Limited i-Health, Inc. and others

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Future Market Insights, in its new offering, provides an unbiased analysis of Bioactive Ingredient presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

Bioactive Ingredient Market by Category

By Product Type:

  • Probiotics And Prebiotics
  • Amino Acids
  • Omega 3 Lipids
  • Peptides & Proteins
  • Minerals & Vitamins
  • Carotenoids And Antioxidants
  • Phytochemicals & Plant Extracts
  • Fibers & Specialty Carbohydrates

By Application:

  • Functional Food & Beverages
  • Dietary Supplements
  • Personal and Beauty Care
  • Pharmaceutical
  • Animal Nutrition

By Distribution Channel:

  • B2B
  • B2C
  • Hypermarket/Supermarket
  • Specialty Stores
  • Online Retail Store
  • Pharmacy Stores Online Retailers

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • 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.

 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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