Market Research Blog – Page 1671 – New Product Development

Beverage Processing Polymers Market to Reach USD 845.4 Million by 2032, Driven by Rising Demand for Alcoholic Beverages and Advanced Filtration Solutions

The global beverage processing polymers market was worth US$ 591.5 Million in the year 2022 and is expected to reach US$ 845.4 Million in the year 2032 at a CAGR of 7.3% between 2022 and 2032.

With alcoholic beverages such as whisky, wine, and beer being used at a notable rate, the demand for beverage processing polymers is expected to substantiate in the years to come.

Polyvinylpolypyrrolidone is a commonly used polymer in wine and beer filtration process. There are nylon 6 polymers used to produce tea bags owing to mechanical properties and resistance against heat.

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Non-alcoholic beverages account for more than 60% of the market share due to growing preference for relaxation drinks, tea, ready-to-drink beverages, energy drinks, and likewise. It’s a known fact that beverages play a vital role in our lives. Almost every single person starts his/her day with consumption of tea/coffee. The polymers are combined with various additives, pigments, and modifiers for catering to the end-users. As per the Tea Association of USA, close to 3.8 Billion gallons of tea were consumed in 2019-2020 in the US alone. Black tea accounts for ~83% of the market share.

The ongoing trend is that of bio-based polymers; which are derived from sugarcane or corn. PHAs (polyhydroxylalkonoates) and PLA (polylactic acid) are the bio-degradable polymers preferred for beverage packaging bottles. Coca-Cola and PepsiCo are making use of bio-based polymers to produce beverage bottles.

At the same time, it needs to be noted that non-bio-degradable polymers are adding to plastic waste. Research states that plastic weighing around 100 Million metric tons get dumped in the marine systems every year. This factor is expected to restrain the beverage processing polymers market going forward. Resorting to bio-degradable polymer would serve dual purpose – curb environmental pollution (due to lower footprint of CO₂) and avoid the further piling up of plastic waste.

Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Beverage Processing Polymers Market’ with its line of expertise in the form of analysts and consultants taking a 360-degree view with macro- and micro-level analysis.

“With growing usage of polymers in microfiltration, osmosis, ultra-filtration, and nano-filtration, the global beverage processing polymers market is bound to witness splendor in the upcoming period”, says an analyst from Future Market Insights.

Key Takeaways from Beverage Processing Polymers Market

North America holds the largest market share due to flourishing food & beverages sector in the US and Canada alike. There is a spike in demand for non-alcoholic beverages like tea and coffee amongst the populace. The NCA (National Coffee Association) states that 70% of Americans consume coffee on weekly basis; whereas ~60% consume every single day. Premium coffee beans are in sizable demand in North America.
Europe is expected to grow on the grounds mentioned above in the forecast period.
Coming to the Asia-Pacific, growing awareness about advantages of intake of tea – like strengthening of teeth and bones, controlling blood pressure, and reduction in risk of cancer could enhance the sales of beverage processing polymers going forward. Also, organic and all-natural ingredients are cold stored, so that their freshness stays intact.

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Competitive Polymers

Tetra Pak, in February 2021, came up with recycled polymers for the key participants in food and beverages vertical.
BASF SE, in 2019, entered into collaboration with SIBUR for developing new-fangled polymer solutions including PP polypropylene and PE polyethylene grades.
Neoma Foods, in June 2022, did launch ‘PepperTea café’ at Hyderabad (India) for delivering traditional Indian tea in several flavors.

What does the Report enclose?

The research study is based on polymer type (PVPP & PVI, PVPP & PS, caprolactum or nylob 6, PES (polyethersulphone), and PVDF), and by beverage type (wine & beer, tea, coffee, carbonated drinks, bottled water, fruit-based beverages, and likewise).
With polymers proving to help in the process of infiltration (beverage sector, in particular), the global beverage processing polymers market is expected to grow on a gracious note in the forecast period.

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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Mussel Extract Market Poised to Reach USD 71.30 Million by 2032, Driven by Rising Demand for Natural Supplements and Holistic Wellness

The global mussel extract market size is predicted to reach US$ 71.30 Million in 2032. The mussel extract market is growing significantly. A mussel is a small sea creature that has two densely packed shells. Mussel extract is derived from mussels. Due to the increase in population and demand for seafood, the aquaculture sector has established several aquaculture ponds to increase the cultivation of fresh mussels for the goal of collecting pearls and other by-products.

The mussel extract market is expanding rapidly as customers become aware of its possible health advantages. Mussel extract, which is high in omega-3 fatty acids, vitamins, and minerals, is gaining favour as a natural supplement for joint health and inflammation reduction. Increased consumer interest in natural medicines and holistic wellness is projected to propel this industry forward.

Mussels are raised in both freshwater and seawater to meet the needs of the consumer. The demand for mussel extract is increasing due to the health benefits it gives and the fact that it is a staple in many households.

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Along with the benefits to humans, it is also beneficial for dogs. Many pet lovers prefer mussel extract containing food for healthy bones and increase in omega-3 intakes of dogs, which increases their health and lifespan. Increasing health and cardiovascular risks leads many consumers toward health consciousness to control body fat and keep themselves healthy.

Therefore consumers to be healthy and away from cardiovascular risk prefer the seafood mussel extract in food, which is rich in omega-3, beneficial for heart and also useful in preventing inflammation, caused due to bone degradation, owing to such reasons the mussel extract is expected to grow significantly over the forecast period.

Increasing Demand for Mussel Extract Due to Various Health Benefits

The fame of mussels varies from country to country, with growing health issues such as arthritis, bone diseases, consumers are getting health conscious and moving towards the health beneficial food ingredient such as mussel extract. Mussel extract help in improve nerve cell functioning and increasing bone and tissue sensitivity.

Mussel extract is used in various supplement products such as boosting immunity supplement, dietary supplements, Due to increasing pollution leading to hazardous environment and a very hectic work environment, and consumption of tobacco and alcohol, is expanding infertility in men and woman, mussel extract is beneficial in increasing fertility along with the immune power in consumers.

It brings higher demand to mussel extract market, many manufacturers are already using mussel extract as their curtail ingredient, due to increasing health benefits and consumers demand. There is a higher demand for mussel extract in animal feed manufacturing industry to improve the nutritional content for animal feeds.

Mussel Extract Market: Key Players

Some of the top manufacturers and suppliers of mussel extract are Waitaki Biosciences International Ltd., Maclab, Inc., Nature’s Path Foods, Inc., Great HealthWorks Inc., Navchetana Kendra Agra., etc. are some leading manufacturer of mussel extract.

Opportunities for Market Participants for Mussel Extract

There are a lot of opportunities in mussel extract market, and the manufacturer needs to understand the systemic investment budget along with the planning such as purchasing of the mussel from the aquaculture vendor at a lower rate, paying GST before shipment to avoid huge custom duty. The new players should enter the market with a challenging price rate to sustain in the market.

Players should have maximum outsourcing knowledge, to sell mussel extract as an ingredient to other corresponding manufacturers at a lower rate but, at a same or better quality than other compotators. Players having their own aquaculture farm of mussel, might additionally extract the essential components from mussel and sell it to other manufacturer using mussel extract as a key ingredient in manufacturing their end product.

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

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Mussel Extract Market Segmentation

On the basis of end users:

Dietary supplement
Biopharmaceuticals
Cosmetics and personal care
Pet food
Veterinary medicines
Processed food

On the basis of form:

Liquid
Powder
Paste

On the basis of distribution channels:

B2B
B2C
Modern Trade
Convenience Store
Specialty Store
Departmental Store
Others

About Future Market Insights (FMI)

Barley Flake Market to Reach USD 13 Billion by 2032, Driven by Rising Demand for Nutritious and Versatile Food Ingredients

Global barley flake demand is anticipated to be valued at US$ 7.35 Billion in 2022, forecast to grow at a CAGR of 5.87% to be valued at US$ 13 Billion from 2022 to 2032.

Barley flakes are prepared by husking the kernels of barley grain which are steamed. The steamed grains are further flattened, rolled and then dried to obtain barley flakes. The barley flakes are rich in fiber, proteins, etc., and also contains many essential minerals such as copper, manganese, potassium, selenium, etc. The barley flakes can be cooked in a similar manner like the oat flakes. Barley flakes have a low glycemic index when compared with the other grains and thus might be a suitable food option for the consumers having diabetes. The barley flakes can be mixed with the bakery products such as cookies, bread, etc., muesli, and can be also served as a hot cereal. Barley flakes have high nutritional value, nutty flavor and can be used in various food recipes which might increase its demand in the food industry.

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Barley Flake Demand in Food Processing Industry
The increase in health trends and consumer awareness are some of the important drivers that might increase the market for barley flakes. Due to the busy lifestyle, the consumers are focusing on the use of food products that have high nutritional value and can be easily prepared and thus barley flakes might be a suitable choice as it is rich in nutrients and requires less cooking time. Therefore, as barley flakes are aligned with the consumer requirements, there might be an increase in the barley flake market.

The trend for the use of clean label products might serve as an important driver for the increase in the market of barley flakes. Barley flakes can be incorporated into various food products such as cookies, bread, biscuits, breakfast cereals, etc., and thus can be used as a food ingredient by the manufacturers of the food products to develop innovative and healthy food products and therefore might attract the health-conscious consumers that prefer the use of clean-label food products.

The presence of similar products such as oat flakes and the lack of awareness about barley flakes can serve as a major restraint for the barley flakes market. Oat flakes are very popular among the consumers due to its high nutritional value, a variety of flavors, and can be used in the preparation of beverages, muffins, bars, cookies, etc., and thus can serve as a major restraint for the barley flakes market.

Global Barley Flake: The key market players are King Arthur Flour, Shiloh Farms, Bob’s Red Mill, Honeyville, Inc., Naturally Yours, Vee Green Organic Life Care Private Limited, Helsinki Mylly Oy, Briess Malt & Ingredients Co., Rude Health, etc., are among the others.Global Barley Flake: Key Developments
In 2018, Rude Health had launched a new product named Naked Barley Porridge which is wheat-free, organic and is made up of 100% naked barley flakes.
In 2014, Kellogg had launched a new cereal, Kashi® Organic Sprouted Grains Cereal which is made up of 100% sprouted grains such as barley, amaranth, wheat, oats, spelt and brown rice in the form of whole grain flakes.

Opportunities for Barley Flake Participants:

The improvement in the pre-treatment process might increase the nutritional value of the barley grains which can be further used for the preparation of the barley flakes. The improvement in processes such as steaming, rolling, etc. might help in developing barley flakes at a reasonable price and thus might attract the manufacturers of the food products to develop innovative products using barley flakes and therefore there might be an increase in the market of barley flakes.

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Brief Approach to Research

The analysis will be done a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed Barley Flake understanding and assessment of the flavor, application and encapsulation process of the segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall Barley Flake sizes.

Key Segments Profiled in the Barley Flake Industry Survey
By Nature:
Organic Barley Flake
Conventional Barley Flake

By Product Type:
Hulled Barley Flakes
Dried Barley Flakes
Toasted Barley Flakes
Other Barley Flakes (e.g. pearled, etc.)

By End Use:
Barley Flakes for the Food Industry
Barley Flakes for Beverages
Barley Flakes for Other End Uses (e.g. Animal feed, etc.)

By Distribution Channel:
Barley Flakes Sales via Online Retail
Barley Flakes Sales via Supermarkets
Barley Flakes Sales via Other Distribution Channels (e.g. Specialty Stores, etc.)

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Aqua Feed Additives Market to Exceed USD 2.7 Billion by 2032, Driven by Rising Demand for Nutrient-Rich Aquatic Nutrition

The aqua feed additives market is estimated to surpass US$ 1.6 billion in 2022, and is predicted to reach US$ 2.7 billion by 2032, with a CAGR of 5.5 % from 2022 to 2032.

Some of the key factors driving the rise of the aqua feed additives market share are growing worries about receiving the right vitamin and mineral additives for aquatic animals.

As individuals become more aware of premixes, the demand for aqua feed additives has increased. As a result of the increased demand for mineral-rich aqua feed additives, companies are seeing an increase in sales of aqua feed additives.

Increased understanding of bioavailability in these compounds is another important driver of the aqua feed additives market size. As a result, aqua feed additives manufacturers are increasing production of direct mineral supplements to suit end-user demand.

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The trade of fish and aquaculture products plays a significant role in expanding fish consumption and building a global market for aqua feed additives by connecting various worldwide suppliers and manufacturers.

As adaptive pathogens can be infected by a variety of stress factors, including poor nutritional status, sales of aqua feed additive are on the rise. Antibiotics are also used to treat diseases such as red pest disease, which drives up demand for aquaf eed additives around the world.

The growing demand for high-protein diets is presenting excellent growth opportunities for the aqua feed additives market, particularly in emerging economies like Brazil, India, and China, where per capita income is rapidly rising, resulting in increased sales of aqua feed additives.

Key Takeaways from the Aqua feed Additives Market Study:

The US is estimated to account for more than 60% of the North American market in 2022, due to the rising in seafood consumption.
The aqua feed additives market in the United States is predicted to grow at a CAGR of 2.6 percent from 2016 to 2032, reaching a market size of US$ 0.1 billion.
Due to a considerable availability of raw materials and the presence of large-scale companies, Egypt has a strong demand for aqua feed additives.
According to FMI, the aqua feed additives market in India is worth US$ 1.4 billion and is predicted to grow at a CAGR of 7.2 percent through 2032.

“Key market players are investing much in R&D in order to introduce new products and obtain a competitive advantage. Companies are also pursuing tactics such as collaboration, acquisitions, mergers, and partnerships in order to extend their client base and increase revenues.”- Lead Analyst at FMI.

Competition Landscape of Aqua feed Additives Market

Key players operating in the global aqua feed additives market are focusing on reaching a large consumer base by implementing various strategies such as product innovations, marketing & promotional activity, strengthening distribution channels, and adopting sustainable production.

Some of the leading companies in aqua feed additives market are Cargill, Inc., NK Ingredients Pte. Ltd., Beneo GmbH, Dibaq A.S., Nutreco N.V., Evonik Industries, Biomar A/S, Growel Feeds, Coppens International B.V., Aker Biomarine and others.

Recent Developments in Aqua feed Additives Market:

ADM purchased Neovia (formerly known as InVivo NSA) (France) in January 2019 for USD 1.82 billion (Euro 1.54 billion). This acquisition would give ADM a strong foundation on which to build future expansion.
In November 2018, Cargill invested USD 70 million in Thailand to provide new technologies to the country’s aquaculture and poultry industries.
In June 2017, Nutreco completed the acquisition of Hi-Pro Feeds LP (Canada). The acquired company’s global brand, Trouw Nutrition, would be used to market the acquired company.

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Aqua Feed Additives Market by Category

By Additives Type, Aqua Feed Additives Market is Segmented as:

Amino Acids
Vitamins
Minerals
Antibiotics
Acidifiers
Binders
Antioxidants
Prebiotics
Palatants
Others

By Species Type, Aqua Feed Additives Market is Segmented as:

Crustaceans
Catfish
Salmonids
Carp
Tilapia
Mollusks
Mullet

By Ingredient, Aqua Feed Additives Market is Segmented as:

Corn
Soybean
Fish Oil
Peas
Sunflower Seed
Others

By Region, Aqua Feed Additives Market is Segmented as:

North America
Latin America
Europe
Asia Pacific
MEA

About Future Market Insights (FMI)

Fat Replacers Market Offering Flavorful, Low-Calorie Alternatives for Health-Conscious Consumers

The fat replacers market is estimated to be worth USD 2,732.3 million by 2024 and is projected to reach a value of USD 4,986.3 million by 2034, growing at a CAGR of 6.2% over the assessment period 2024 to 2034.

The fat replacers industry is growing as a global market because end users are eager for healthier, functional and natural products as opposed to traditional fats. New urgent trends which provide the overall market development include a low fat/low calorie product, clean label products. Tycoons like Cargill, Kerry Group, Tate & Lyle are increasing production capabilities and innovating their portfolios to meet out these needs.

Fat substitutes are a safe and effective way to retain food palatability while improving overall calorie control. Fat replacers can be used to develop different food products rich in taste and low in fat content without adding on the pounds.

Eating low-fat foods lessens overall calorie intake, resulting in weight loss. Fat substitutes can drastically improve the diet quality and aid in weight loss and maintenance. Salad dressings made with fat alternatives may encourage people to eat more vegetables and fruits which in turn will boost their immunity.

Obesity and its complications can be effectively tackled by combining a diet with fibre-based fat replacer and healthy lifestyle. Other benefits associated with consumption of fat replacer are enhanced glucose tolerance, higher HDL, lower lipid levels and systolic blood pressure, which would lower the risk of type 2 diabetes and cardiovascular disease

Surge in consumer spending capacity and easy availability of product variants across North America, Europe, and Asia has made it possible for customers to splurge on healthy and nutritious food products. On the back of the aforementioned factors, the fat replacers market is expected to expand at a considerable pace over the assessment period.

“Increasing adoption of fat replacers in the bakery and confectionery sector, along with rising demand for functional foods across the globe will augment the growth in the market over the forecast period,” says an FMI analyst.

Competitive Landscape

Key manufacturers operating in the global fat replacers market are focusing on research & development to offer different varieties of low-fat content replacers. Leading players are also offering products that are organically sourced and non-GMO certified. For instance:

Global ingredient solutions company Ingredion has introduced NOVATION® Indulge 2920 starch a functional native starch to its range of clean and easy co-texturisers. The new offering is a corn-based starch that can help promote lower-fat and lower-calorie consumables as well as the production of healthy foods.

Leading Manufacturers

Cargill Inc.
FMC Corporation
Kerry Group Plc.
Tate & Lyle Plc.
Royal DSM N.V
Ashland Global Holdings Inc.
Archer Daniels Midland Company
Ingredion Incorporated
Corbion N.V
Associated British Foods Plc.

Reduced-Fat Replacers Market by Category

By Type:

Carbohydrate
Lipid
Protein
Others

By Source:

Plant
Animal

By Form:

Liquid
Powder

By Application:

Processed Meat
Bakery and Confectionery
Beverage
Convenience Food

By Sales Channel:

Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
Online Sales Channel
- Company Website
- E-commerce Platform

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Forecasting NPK Fertilizers Market Expansion: Expected to Reach USD 4.44 Billion by 2033 with a Steady 3.9% CAGR

According to a report published by FMI, the global NPK Fertilizers Market will be valued at USD 3.03 Billion in 2023. It is expected to grow at a CAGR of 3.9% during the forecast period, reaching a value of USD 4.44 Billion by 2033.

In addition to improving crop quality and yield, their use reduces application costs. Increasing public awareness of the benefits of NPK fertilizers promotes market growth. In most of the region, commercial feed and high-protein food are becoming more prevalent.

To ensure healthy plant growth, NPK fertilizers (feed-grade and food-grade) are widely used in agriculture. They are available in liquid, gaseous, and granular forms. By ensuring nutrient and water efficiency, it reduces fertilization costs while also increasing demand for NPK fertilizers.

Increased accuracy in cultivating, using, and applying NPK manures, as well as improved crop security provided by NPK manures, are spurring consumer demand for high-quality compost. As a result of the increased consumption of fresh fruits and vegetables, wheat, and rice, among other things, the global market for NPK fertilizers is also growing.

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Growing demand for NPK fertilizers has been spurred by advancements in farming and agriculture techniques. As most leading manufacturers are well aware, consumers demand high-quality food grains and foodstuffs.

Key Takeaways from the NPK Fertilizers (Feed-Grade and Food-Grade) Market

The global market for NPK fertilizers is projected to generate US$ 4.44 Bn by 2033, growing at a CAGR of 3.9%.
It is expected that Asia Pacific will continue to hold the largest market share and grow at a moderate-paced CAGR of 6% predicted to reach US$ 641.31 Mn by 2033.
Phosphorus market is growing at a CAGR of 4.5% and is expected to reach US$ 2.2 Bn by 2033.
The powder segment is projected to be the fastest-growing form of NPK fertilizers (feed-grade and food-grade). In the powder segment, consumers are attracted mainly by its ease of use, consistency, and ability not to alter the desired texture of food products.
China is expanding at a CAGR of 6.6% while Germany is growing at a CAGR of 2.8% in the forecast period.
US registered a market valuation of US$ 769.51 Mn in 2023 and is projected to reach a valuation of US$ 947.27 Mn by the end of 2033.

Competition Landscape in the NPK Fertilizers (Feed-Grade and Food-Grade) Market

To expand their product portfolios and attract consumers from a variety of industries, several manufacturers are introducing multi-performance variants. Among the strategies, companies employ to improve their market position in mergers and acquisitions. These strategies have helped the company become more competitive and improve its market position.

Borealis AG (Austria), Yara International ASA (Norway), Petróleo Brasileiro S.A. (Brazil), The Mosaic Company (US), AkzoNobel (Netherlands), Israel Chemicals Ltd. (Israel), EuroChem (Switzerland), PotashCorp (Canada), Agrium Inc. (Canada), Alltech (US), PhosAgro (Russia), Haifa Chemicals (Israel), Aditya Birla Chemicals (India), SKW Stickstoffwerke Piesteritz (Germany) are some of the key players operating the global NPK fertilizers (feed-grade and food-grade) market.

Recent Developments in the NPK Fertilizers (Feed-Grade and Food-Grade) Market

EuroChem announced in February 2022 that it had begun exclusive negotiations to acquire Borealis’ nitrogen operations.
Sinofert Holdings Limited, a subsidiary of State Power Investment Corporation (SPIC), invests in Sinofert II LLC, a fertilizer manufacturing company in India with the same annual production capacity as SPIC’s existing plant in Sichuan Province, China.
Petrobras’ fertilizer plant will be purchased by the Russian company Acron in February 2022.
The Acron Group has developed new brands of NPK complex mineral fertilizers for cereal crops grown in West and East Africa. These new products are being developed at the company’s Veliky Novgorod site in Russia.

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NPK Fertilizers Market by Category

By Type, the NPK Fertilizers Market is Segmented as:

Nitrogen
Phosphorus
Potassium
Others

By Form, the NPK Fertilizers Market is Segmented as:

Powder
Liquid
Others

By Application, the NPK Fertilizers Market is Segmented as:

Bakery Products
Meat & Meat Products
Dairy Products
Beverages

By Region, the NPK Fertilizers Market is Segmented as:

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

About Future Market Insights (FMI)

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Rising Demand for Eco-Friendly and Healthy Products Propels Botanical Ingredients Market to Reach USD 374.84 Billion by 2034

The botanical ingredients market is slated to progress at a CAGR of 7.3%. This will elevate the market size from US$ 185.91 billion to US$ 374.84 billion from 2024 to 2034. The growing healthcare, cosmetic, and food and beverage markets leverage the demand for botanical ingredients.

Changing consumer lifestyles levitate the demand for eco-friendly products. In addition, consumers demand healthy products, driving the production of botanical ingredients. Hence, this boosts the natural food ingredient market size. The strengthening and diversification of distribution networks will increase the demand for botanical ingredients. Multiple choices can become available to customers, enhancing the natural food ingredient market growth prospects.

Technological infrastructure is growing, assisting leading botanical ingredient manufacturers in producing innovative and sustainable botanical ingredients. It will generate more options for consumers, driving the plant-based ingredient market. The growing concern for sustainability will be another critical mainstream driver for the botanical ingredient market.

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

Key Takeaways from the Market Study

• From 2019 to 2023, the market for botanical ingredients advanced at a 6% CAGR.

• The Indian botanical ingredient market growth will be the fastest, which projects the highest CAGR of 7.1%.

• The United States of America is the largest market by size, estimating the advancement at a CAGR of 4.4%.

• Liquid plant extract is the largest segment based on form, securing 26.5% of the market space.

“Synthetic products can be perfect substitutes for organic products, which can be a serious restraint for the botanical ingredient market,” says Nandini Roy Choudhury, Client Partner at Future Market Insights.

Competitive Landscape of the Botanical Ingredient Market

Leading botanical ingredient manufacturers occupy a large market space, hindering new entrants’ entry path. However, new entrants might enhance their market presence through effective brand positioning.

Key marketers use product launches, partnerships, collaborations, acquisitions, and alliances to maintain their competitive advantage in the market. The following key developments have changed the competitive landscape:-

• In August 2022, Archer Daniels Midland Company partnered with New Culture. The strategic move intended to uplift dairy production. Also, the organization focused on innovating products and commercializing them.

• In May 2023, International Flavors & Fragrances Inc. initiated and completed a divestiture of its Savory Solutions business unit to PAI Partners. This helped the organization eliminate its liabilities and assets, leveraging free cash flow.

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Key Companies Profiled

Archer Daniels Midland Company
International Flavors& Fragrances Inc.
Koninklijke DSM NV
Martin Bauer Group
Bell Flavors & Fragrances
Givaudan
Döhler GmbH
Koninklijke Euroma BV
Botanical Ingredients Ltd.
Nutrasorb LLC.

Botanical Ingredients Market by Category

By Ingredient:

Herbs & Spices
Vegetables & Fruits
Flowers
Leaves
Seeds & Nuts
Barks & berries
Bulbs & Roots
Others

By Form:

Dried Plants
Liquid Plant Extract
Oleoresins
Others

By End User:

Commercial Chains
Residential Uses

By Application:

Food & Beverages
Nutraceuticals & Dietary Supplements
Pet Care Industry
Pharmaceuticals
Cosmetics and Personal Care
Commercial HouseholdsOthers

By Region:

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

About Future Market Insights (FMI)

Animal-based Pet Protein Market Set to Achieve USD 121.9 Billion by 2033, According to FMI

The global animal-based pet protein market size is projected to exhibit modest growth from 2023 to 2033. According to the research report by FMI, the global market is predicted to surpass a valuation of US$ 79,352 million in 2023. It is anticipated to reach a valuation of US$ 121,923 million by 2033. The market is estimated to showcase a considerable CAGR of 4% from 2023 to 2033.

The market for animal-based pet protein is anticipated to grow as a result of rising pet ownership rates and the new trend of pet parenting. The demand for treats, toys, and other pet food products is anticipated to rise as households with cats, birds, and dogs increase. The market is growing as pet owners’ concerns about pet food and the nutritional advantages it provides grow. The demand for animal-based pet protein is anticipated to soar as a result.

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The market’s growth is further aided by the expanding e-commerce market and consumers’ growing propensity for online purchasing. The expansion of online channels is supported by the factors of convenience, ease, discounts, and low prices that online businesses provide. Also, a crucial trend driving the sales of animal-based pet proteins is the growing population of aging pets. Pet food and pet care businesses are expected to use this opportunity to offer goods and services that address the changing needs of aging animals.

Key Takeaways from the Global Market:

The global market expanded at a modest CAGR of 2.4% from 2018 to 2022.
In 2018, the global market size stood at US$ 1,922.5 million.
The global market accounted for US$ 76,300 million in 2022.
The dry type animal-based pet protein segment is likely to account for around 40% value share of the global market by 2023.
The wet pet food type is expected to register a CAGR of more than 4% by 2023.
The online retailers’ segment is predicted to exhibit a CAGR of 5.7% during the forecast period.
India held a massive 19.4% market share in 2022.
China held a market share of 2.9% of the overall East Asia animal-based pet protein market in 2022.
The United States accounted for 24.1% of the total revenue value share in the North America animal-based pet protein market in 2022.

Recent Developments Observed by FMI:

Clara Foods, a biotechnology company, officially changed its name to The EVERY Company in October 2021. Additionally, the business unveiled EVERY ClearEgg, a ground-breaking egg protein product. It is the first egg protein in existence.
New KARMA plant-first formulae were introduced by Mars Petcare, a pet food manufacturer, in June 2021. The two formulae contain a variety of typical pet food proteins, including chicken and white fish. Additionally, the company collaborated with TerraCycle to develop a program for recycling used KARMA packets. Pet owners in the United States were given access to the recycling scheme.

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Animal-based Pet Protein Market Segmentation:

By Product Type:

Dry
Wet
Treats & Chews
Others

By Pet Type:

Cat
Dog
Birds
Others

By Nature:

Organic
Conventional

By Packaging:

Pouches
Bags
Folding Cartons
Tubs & Cups
Can
Bottles & Jars

By Distribution Channel:

Store-Based Retailing
- Hypermarket/Supermarket
- Convenience Stores
- Mom And Pop Stores
- Pet Stores
- Discounters
- Independent Grocery Retailers
- Drugstores
- Other Retail Formats
Online Retailers

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Vegan Sashimi Market Set to Reach USD 218.8 Million by 2033 with Steady 8.5% CAGR

The demand for Vegan Sashimi Market is anticipated to be worth USD 104.9 million in 2023 and USD 218.8 million by 2033. The United Kingdom, the United States, China, and India are expected to emerge as major manufacturers as the market for Vegan Sashimi expands at a constant 8.5% CAGR.

Increasing awareness and concern for the environment, animal welfare and growing number of health-conscious consumers are driving the growth of the vegan sashimi market. Consumers are becoming more conscious of their impact on the environment and animal welfare, and are looking for alternative options that align with their values.

The growing popularity of sushi and sashimi dishes, along with increasing interest in Japanese cuisine, is driving the demand for vegan sashimi. Consumers are looking for alternatives to traditional sushi and sashimi that align with their values and dietary preferences.

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Stringent food safety regulations and labeling requirements can be a major restraint for the demand for vegan sashimi as it can be difficult for companies to comply with these regulations. This can limit sales of vegan sashimi as companies may struggle to meet safety standards and get their products to market.

Limited consumer awareness and availability of vegan sashimi in certain regions can also be a restraint for the demand for vegan sashimi. If consumers in these regions are not aware of vegan sashimi or are unable to find it in their local stores, they may not be interested in purchasing it, which can limit market growth.

Opportunities Abound as Vegan Sashimi Market Adapts to Changing Consumer Preferences

Some major opportunities that are driving the growth of the market include:

The growing trend of fusion cuisine, which combines different culinary traditions, is an opportunity for the demand for vegan sashimi to expand.	The increasing number of health-conscious consumers is an opportunity for the growth of demand for vegan sashimi. Vegan sashimi is considered as a healthy food option as it is low in calories and high in protein.
The increasing demand for convenience and ready-to-eat products is an opportunity for the market growth. Companies can introduce packaged and frozen vegan sashimi products to cater to this demand.	The expanding economy of the Asian countries, especially in Japan and China, is an opportunity for the market to grow.

Competition from Traditional Sashimi Market Poses Threat to Vegan Sashimi Market

Despite the drivers of the demand for vegan sashimi, there are several threats that are restraining the growth. They are:

Limited consumer awareness and availability of vegan sashimi in certain regions can be a threat to the market growth.	Competition from traditional sashimi market can be a threat to the growth of the vegan sashimi market.
The high cost of production, which makes it difficult for some companies to compete with traditional sashimi can be a threat to the growth of the sales of vegan sashimi.	Limited availability of some plant-based ingredients can be a threat to the market growth.

Key Takeaways

The outlook for the market is expected to be positive in the coming years, driven by increasing awareness and concern for the environment as well as health-conscious and cautious consumers.
The growing popularity of sushi and sashimi dishes and the increasing interest in Japanese cuisine is driving the demand for vegan sashimi.
Advances in food technology and ingredient innovation are allowing companies to create products that mimic the taste and texture of traditional sashimi.
Government regulations and incentives that support the growth of plant-based alternatives to traditional seafood are helping to expand the vegan sashimi industry.
The high cost of production and limited availability in certain regions can be a restraint for the market growth.
The growing trend of fusion cuisine, expanding economy of the Asian countries, and increasing demand for convenience and ready-to-eat products can be the opportunity for the growth of the demand for vegan sashimi.

Competitive Landscape

The competitive landscape of the vegan sashimi market is characterized by a significant number of players, both established and emerging. The major players in the market include companies such as Ocean Hugger Foods, Sophie’s Kitchen, Good Catch Foods, and others. These companies are focusing on product innovation and development, as well as partnerships and collaborations, to expand their market share.

On the other hand, start-ups ecosystem in the market is growing, with new companies entering the market and existing companies expanding their product offerings. These start-ups are focusing on creating new and unique plant-based ingredients to mimic the taste and texture of traditional sashimi. They are also focusing on creating innovative packaging and branding to stand out in the market.

Some of the start-ups in the vegan sashimi market include:

New Wave Foods, who create plant-based seafood alternatives using algae and plant-based ingredients.
Wild Type, a startup that uses cellular agriculture to produce lab-grown fish cells for use in vegan sashimi.
Terramino Foods, which creates plant-based seafood alternatives using mushrooms.
Finless Foods, a company that produces lab-grown fish cells for use in vegan sashimi.

The vegan sashimi market is relatively new, and there is a significant opportunity for startups to enter the market and establish themselves as leaders. However, the competition is expected to increase as more companies enter the market and established players expand their product offerings.

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Key Segments

Ingredient:

Soy
Seaweed
Others
Distribution Channel:

Supermarkets and hypermarkets
Convenience stores
Online channels
Others

By Application:

Household
Food service
Commercial

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Detailed Global Vodka Market Projection: Estimated USD 39.96 Billion in 2023 to Forecasted USD 68.25 Billion by 2033, Growing at 5.5% CAGR

The vodka market size is anticipated to reach a value of USD 39.96 billion in 2023 and is expected to expand at a CAGR of 5.5% between 2023 and 2033. It is projected that the vodka industry would be worth USD 68.25 billion by 2033.

The surge in high-end vodka cocktails in developed economies is contributing to increased consumption. Additionally, flavored vodkas such as cranberry, lime, and raspberry are boosting vodka sales. The expected growth in offline alcoholic beverage commerce is poised to accelerate market expansion throughout the forecast period.

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Key Takeaways

From 2023 to 2033, offline trading provided more than 75% of the total market revenue.
With a CAGR of 4.4% throughout the projected period, online trading is anticipated to develop the fastest.
The category for flavored vodka is anticipated to develop at the quickest rate, with a CAGR of 4.5% throughout the projected period.
With a market share of over 35% through the projection period, North America is anticipated to contribute the most to the global market.
The CAGR for the Asia Pacific vodka market is expected to be 6.4% between 2023 and 2033.
Through 2033, Europe held the major market share, accounting for 38% of the total.

An Increase in Demand for Premium Vodka

Global consumers today have more discriminating tastes than they did five years ago. To enhance both their overall appeal and functionality, premium vodkas go through numerous stages of distillation, setting them apart from more common variants.

The popularity of healthier alcoholic beverages, which feature a blend of natural ingredients, reduced calories, and sugar-free formulation, is being encouraged by the rise in health consciousness. Due to rising consumer interest in living a sustainable and healthy lifestyle, the premium vodka category has better possibilities, particularly in the foreign market.

As consumers continue to demand flavored, light beverages like hard seltzers, RTD vodka innovation is rising in developing nations. This is projected to fuel the expansion of the vodka market throughout the forecast period.

Competitor Analysis

Due to the existence of numerous regional and multinational firms that offer a wide variety of vodka variants with cutting-edge flavors while competing to preserve their dominance in the industry under study, the global vodka market is highly fragmented.

Several of the market’s top participants include Diageo Plc, Brown Forman, LVMH Mot Hennessy Louis Vuitton, Pernod Ricard, and Constellation Brands Inc. These companies, along with others, are implementing business strategies such as product innovations, partnerships, and expansion of online and offline distribution networks to improve brand recognition and the portfolio of products they offer, which will ultimately spur market expansion.

Recent Development

Brand Authorization Agreement

Leading beverage alcohol manufacturer Constellation Brands Inc. signed a brand permission deal with The Coca-Cola Company in the United States in 2022 introducing the FRESCA brand to beverage alcohol.

Partnership

With the help of young businessmen Stas Karanikolaou and Zack Bia, Global Brand Equities debuted Sunny Vodka in March 2022 as the newest addition to their lucrative liquid portfolio.

Collaboration

One of the top vodka makers, Roust Group, announced its collaboration with Beijing Soko in October 2020 to introduce Russian Standard vodka to China.

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Key Segments

By Type:

Plain Vodka
Flavored Vodka

By Quality:

Average
Premium
Ultra-premium

By Distribution Channel:

Off Trade
On Trade

By Region:

North America
Europe
Asia Pacific
Central & South America
Rest of Central & South America
The Middle East & Africa

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