Market Research Blog – Page 1756 – New Product Development

Future Trends: Gypsum-Free Plaster Market Expected to Expand at 3.4% CAGR Through 2032

During the forecast period of 2022–2032, the global market for gypsum-free plaster is expected to grow at an average CAGR of 3.4% and reach a valuation of USD 4 billion. The market for gypsum-free plaster is growing due to elevated environmental consciousness, a more aware global population, and changes in consumer preferences.

One of the most commonly used plaster forms, gypsum-based plaster is preferred over conventional sand cement plaster. This is due to the lightweight, easy-to-apply, able to provide superior finish properties of gypsum. It also makes for a shorter turnaround time. Nevertheless, prolonged usage of gypsum has resulted in severe environmental consequences. This has fostered an environment of growth for the gypsum-free plaster market.

Rapidly evolving construction industry along with a strong emphasis on green and sustainable building will supplement market growth for gypsum-free plasters. At present, a greater part of the world’s population prefers gypsum-free plasters or similar alternatives. This boosts the sales of gypsum-free plaster products in the global market. Furthermore, the introduction of new and innovative products in the gypsum-free category is expected to fast-track the growth of the gypsum-free plaster market.

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“Growing construction activities coupled with an emphasis on green building and stringent regulatory policies will promote growth in the market over the assessment period,” says an FMI analyst.

Key Takeaways:

The demand for green building and sustainability in construction sector will help expand the gypsum-free plaster market
Limelite, a gypsum free product launched by Tarmac, will continue to gain traction due to its ability to battle issues of dampness, trapped moisture, and mold.
Increasing spending on construction ensures gypsum-free plaster market growth in Canada, the U.S. and Mexico.
The U.S spent around US$1,744,801 Mn in the construction sector in April, 2022. This is expected to boost the gypsum-free market in the region.
Asia Pacific presents a lucrative market for gypsum-free plaster products due to evolving construction sector and stress on green building
Emerging economies in Asia Pacific region like China and India are expected to foster market growth

Competitive Landscape

Tarmac, Knauf AG, Global Mining company, Yoshino Gypsum Co. Ltd., Jonoub Gypsum, Saint Gobain, American Gypsum, Georgia Pacific, Zawami Minerals Co., and Gypsona among others are a few of the key players of the gypsum-free plaster market that are profiled in the full version of the report.

Key players in the global gypsum-free plaster market are invested in introducing new and innovative gypsum-free plaster solutions into the global market. Mergers, acquisitions, partnerships, and collaborations are certain strategies that these market players engage in to gain a competitive advantage.

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More Insights into the Gypsum-free Plaster Market Report

In its latest report, FMI offers an unbiased analysis of the global gypsum-free plaster market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type (modified quick binding high strength cement, quick binding cement lute, gypsum free quick binding high strength cement, quick setting high strength cement), application (ordinary portland, white, aluminous, others) and region.

According to market insights, Asia Pacific is presenting a substantial growth in the global gypsum-free plaster market. This is primarily owing to the high demand for green building and rising construction sector in emerging economies like China and India. This is further aided by government initiatives and investments.

Increased spendings in the construction sector as well as stress on green and sustainable building are propelling gypsum-free plaster market growth in Canada, Mexico, and the U.S. Government initiatives in developing public infrastructure and changing consumer preferences are contributing factors to the market growth.

Concerns over the adverse environmental impact due to extensive use of gypsum, availability of novel gypsum free products and rapid development of building and construction sector are propelling market expansion for gypsum-free plaster.

Gypsum-free plaster market still has to overcome certain limitation to continue expanding and growing. Wide range of application provided by gypsum products and lack of easy access to gypsum-free products by developing and underdeveloped regions are challenges that the market has yet to overcome.

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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 ~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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Robust Growth Projected for High Carbon Bearing Steel Market: Expected to Hit USD 269 Billion by 2032

The global market for high carbon bearing steel was projected to be worth USD 139.6 billion in 2022. As a result of the growing need for highly efficient and lightweight bearings in industries like marine, construction, and automotive, it is anticipated that global sales of high carbon bearing steel will rise at a robust compound annual growth rate (CAGR) of 6.9% between 2022 and 2032, approaching USD 269 billion by that year.

Bearing as an equipment is an integral part of numerous industries to achieve optimum and efficient results. Selecting the material during the bearing fabrication is one of the key factors that helps to decide the degree of performance of the bearing.

High carbon bearing steel as a material is witnessing increased adoption & attraction in bearing manufacturing. Numerous attributes of high carbon bearing steel such as high load bearing capacity and extensive temperature range of operation are expected to fuel the growth of the global market.

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High carbon bearing steel enables high level of efficacy in bearings, which further results in the reduction of resistance and increases the mobility or functioning of the component, and further assists in efficient working of the machineries.

High Carbon Bearing Steel Market: Regional Trends

Low manufacturing cost for the fabrication of bearing in China is expected to create substantial growth opportunities for the manufacturers, and is expected to drive the growth of the market. South East Asia Pacific is on the same track as of China in terms of growth as the region is involved in large production of bearings.

Western Europe has substantial production capacity of bearings, which is expected to fuel the growth of the high carbon bearing steel market in the region. With growing automotive and marine industries in North America, the region is expected to hold significant share in the global high carbon bearing steel market. Latin America, Eastern Europe & MEA are considered as the low volume–high growth markets.

High Carbon Bearing Steel Market Top Players

OVAKO
Sanyo Special Steel
CITIC Special Steel Group
Dongbei Special Steel
Juneng
Nanjing Iron & Steel United Co., Ltd.
JIYUAN Iron &Steel

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Key Segments Profiled in the High Carbon Bearing Steel Industry Survey

By Product Type:

High Carbon Chromium Bearing Steel
High Carbon Stainless Bearing Steel

By Application:

Deep Groove Ball Bearing
Cylindrical Roller Bearing
Spherical Roller Bearing
Angular Contact Ball Bearing
Tapered Roller Bearing
Thrust Ball Bearing
Thrust Spherical Roller Bearing

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East & Africa

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Projected Growth: Carbon Brush Market Set to Reach USD 4,503.6 Million by 2033, with a CAGR of 4.5%

The global carbon brush market is anticipated to exceed USD 4,503.6 million in 2033 as opposed to an estimated USD 2,900 million in 2023. The target market is slated to expand at an average CAGR of 4.5% from 2023 to 2033. Carbon brushes find extensive application in motors, generators, and other electrical equipment to transfer electrical current while preventing arching and electrical sparking. Additionally, the popularity of electric vehicles spurs the demand for carbon brushes in the electronic sector. The market for carbon brushes, thus, looks at a bright future owing to the aforementioned factors.

Historically, the carbon brush market recorded a CAGR of 3.4% from 2018 to 2022 and will likely create an absolute incremental opportunity of USD 1,603.5 million during this forecast period. Carbon brushes are made of soft material, are cost-effective, and commutator-friendly. These brushes have a high melting point and offer excellent conduction and temperature resistance. Additionally, proper care and maintenance of carbon brushes can further ensure extended shelf life. The better the quality of the brushes, the better the performance and efficacy of motors and generators. These aspects are expected to foster growth for the carbon brushes market in the international space.

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During the forecast period, carbon brushes will sustain steady growth owing to the high demand for the same from the electronic and automotive industries. Moreover, as sustainability is crucial for the manufacturing industry, carbon brushes will observe greater demand from this sector owing to their energy efficiency. The use of energy-efficient tools like carbon brushes enables sustainable manufacturing. Moreover, though manufacturers now focus on proper maintenance of carbon brushes, the market still witnesses a higher replacement rate which augurs well for the market. Again, technological advancements and surging manufacturing of electric motors across different industrial verticals will aid the expansion of the carbon brush market size in the forthcoming years.

Key Takeaways:

The rising awareness of the advantages of brushless motors over brushed motors will likely impede the growth of the carbon brush market.
An upsurge in energy efficiency requirements and increasing electrification of rail infrastructure will open new avenues of growth for the carbon brush market.
By product type, electro-graphite carbon brushes will observe high sales and bolster market growth.
Based on application, DC motor requirements will create immense demand for the market and account for 33.8% of the market share.
An advancing automobile sector will drive market growth in China.
As a prominent manufacturing center for carbon brushes, the US will witness significant growth during the assessment period.

Competitive Landscape

Mersen SA, Toyo Tanso Co., Ltd., Robert Bosch GmbH, Schunk GmbH, Aupac Co., Ltd., Helwig Carbon Products Inc., and National Carbon Brush Products, among others, are some of the leading players in the carbon brush market profiled in the full version of the report.

In a competitive environment, predominant market players are keen on expanding their production facilities. These companies also focus on product development and the launch of new products. A few other market participants employ mergers and acquisitions to gain a competitive edge. In a recent development, in January 2023, Bosch Power Tools released the GWS 800 Professional angle grinder which aims at making maintenance easy for consumers.

More Insights Into Carbon Brush Market

In its latest report, FMI offers an unbiased analysis of the global carbon brush market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. The report presents a complete breakdown of market drivers, restraints, opportunities, and trends. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type, application, sales channel, end-use, and region.

According to the same reports, based on segmentation, the industrial end-users will dominate the international marketplace. The surging adoption of automation across different industries will drive the growth of this segment. In terms of application, the increasing DC motor needs all over the world will propel the demand for carbon brushes.

Based on region, the carbon brushes market in East Asia will exhibit robust growth. The target market in this region will hold 30.4% of the market share. This growth can be attributed to the development of the carbon brush market in China. The growing automobile sector in China drives the growth of the carbon brushes market in the country which, in turn, drives the market forward in China. North America, too, displays significant growth in the market with a share of 26.1%. In conclusion, the growing demand for carbon brushes from the automotive industry and the contribution of East Asia and North America fuel the global growth of the carbon brush market.

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Key Segmentations

By Product Type:

General Graphite
Metal Graphite
Carbon Graphite
Electro Graphite
Silver Graphite
Resin-Bonded Graphite

By Application:

Motor
Generator & Alternator
Current & Signal Transmission
Grounding Devices

By Sales Channel:

OEM
Aftermarket

By End Use:

Automotive
Electrical Hand Tools
Industrial Application
Household Appliances
Security and Defence
Petrochemical
Energy
Healthcare

By Region:

North America
Latin America
East Asia
South Asia and Pacific
Western Europe
Eastern Europe
Central Asia
Russia and Belarus
Balkan and Baltics Countries
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 5000 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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Website: https://www.futuremarketinsights.com
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Growth Prospects for Blow-Molded Bottles: CAGR of 4.8% Expected by 2033 | FMI Study

The global demand for blow-molded bottles had strong growth, as evidenced by a noteworthy CAGR of 4.2% from 2018 to 2022. Furthermore, FMI surveyed that this growth trend raised the market’s worth to over US$ 90.3 billion by the end of the survey period in 2022.

By the end of this year, 2023, it is anticipated that the global market could reach a worth of over US$ 94.6 billion. Additionally, it is predicted that from 2023 to 2033, the worldwide sales of blow-molded bottles might expand at an accelerated CAGR of around 4.8%. It is predicted that this encouraging development trajectory can create a sizeable market opportunity of US$ 151.2 billion by 2033.

The rising sales of blow-molded bottles worldwide is getting supported by many trends that reflect a change in the global packaging landscape. Given their recyclable qualities and little environmental impact, these bottles have propelled themselves to the forefront of packaging options with a growing emphasis on environmental sustainability.

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The demand among end users has increased due to their tamper-evident packaging options that improve customer confidence and guarantee product purity. Because of their adaptability, blow-molded bottles have found utility in several businesses, including those that produce beverages, cosmetics, drugs, and home goods.

The global blow molded bottles industry is witnessing a transformation these days due to changed customer tastes, increased environmental concern, and changing industrial dynamics.

Key Takeaways from the Global Blow Molded Bottle Market Study Report by FMI

The demand for blow-molded bottles in the United States is expected to progress at a moderate CAGR of 4% during the forecast years. For the United States market players hoping to take advantage of the rising demand in the worldwide market, overcoming issues with regulatory compliance, production effectiveness, and marketing strategies might be crucial.
Many regional markets in Europe are anticipated to shift to recyclable and reusable packaging solutions in the forthcoming years. This forecast draws attention to the industry’s potential for significant growth, particularly in Germany and the United Kingdom.
With the alignment of environmental imperatives, varied industry uses, and industrial preferences for practical packaging, Asia Pacific’s market is expanding significantly nowadays. India, for instance, is figured out to witness an absolute dollar growth opportunity of US$ 6.1 billion over the next ten years.

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Competitive Landscape for the Blow Molded Bottle Market Players

Leading market participants in both the global and regional markets are now facing new possibilities and problems with emerging manufacturers entering the competition.

New market players are striving to stand out from the competition and develop close relationships with consumers by using distinctive forms, sizes, designs, and patterns. As digital printing technology advances, manufacturers could be better able to meet a wide range of consumer expectations by providing customized solutions to diverse sectors.

According to FMI, firms must use sophisticated production techniques and maintain a constant flow of products by developing flexible and effective supply networks. Moreover, they also have to manage changing regional rules and meet rising regional market expectations these days for ecologically friendly packaging.

About Future Market Insights Inc. (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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Growth Trajectory of BFS Syringes Market: Projected CAGR of 9.4% and US$ 2,158.46 Million by 2033

The BFS syringes market is forecasted to experience a growth of 9.4% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 878.48 million in 2023. By 2033, the BFS syringes industry is expected to capture US$ 2,158.46 million by 2033.

BFS technology is most commonly used in ophthalmic treatments, veterinary products, and medical gadgets. The surging adoption of medical gadgets and veterinary products is propelling the use of BFS syringes.

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Parenteral drugs like ophthalmic solutions, injectables, and respiratory therapies need to follow strict regulatory guidelines. To pack these drugs, manufacturers use aseptic packaging like BFS syringes. The demand for BFS products is projected to surge due to expanding geriatric population and prevailing chronic diseases.

Growing demand for sustainable packaging solutions among end-users is expected to favor market growth. BFS procedure requires less demand for plastics and does not deploy external sterilizing. It reduces the carbon footprint and energy use. Further, growing concerns for the environment are expected to support the demand for BFS syringes.

Top Highlights from the FMI’s Analysis of the BFS Syringes Market

India is coming up strong in the BFS syringes industry. Several investors are vying for their share in India’s BFS syringes industry due to several opportunities available in the market.

The United States accounts for considerable sales of BFS syringes. Early deployment of advanced technologies is expected to drive automation in the packaging industry and boost the BFS syringes industry.
BFS polypropylene syringes are expected to observe high preference over the estimated period.
The healthcare and pharmaceutical sector is anticipated to generate significant revenue in the BFS syringes.

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FMI Spots New Developments that are Revolutionizing the BFS Syringes Industry

In 2021, Gerresheimer AG officially declared that it is coming into a strategic partnership with a global technology group called SCHOTT AG. The motive behind this partnership is to develop and manufacture high-quality, uniquely designed primary packaging options for the pharmaceutical industry.
Catalent, Inc. finalized the acquisition of MaSTherCell Global, a firm that specializes in gene and cell therapy development and manufacturing. The acquisition intends to fuel and enhance Catalent’s capabilities in the robustly expanding gene and cell therapy industry.
Unither Pharmaceuticals obtained BFS manufacturing assets of the pharmaceutical firm Zentiva Group in 2020. This development focuses on the expansion of Unither’s capabilities in Europe’s BFS product industry and invigorating its position as a market leader in sterile packaging solutions.
Weiler Engineering, Inc. finalized the acquisition of Multipack Systems, Inc., which specializes in packaging equipment, in 2019. This acquisition intends to expand Weiler Engineering’s capacity in the packaging industry, especially in the BFS product industry.
Nephron Pharmaceuticals revealed its plan to invest US$ 12.5 million in its BFS manufacturing facility in South Carolina, the United States, in 2018. The facility intends to meet the surging demand for sterile packaging solutions and generate employment in the region.

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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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Global PVC Packing Straps Market: Forecasting a Valuation of US$ 213 Million by 2033

The market for PVC packing straps has expanded steadily, with a year-on-year growth rate of 3.8% during the period from 2018 to 2022. The global market value concluded at an estimated value of US$ 134 million by the end of this historical period in 2022.

The net worth of all PVC packing straps is anticipated to reach around US$ 139.8 million in 2023. From 2023 to 2033, if the worldwide market could continue to rise, the market is expected to expand at a promising CAGR of 4.3%. Furthermore, according to FMI, the global PVC packing straps industry could reach a valuation of US$ 213 million by the end of this forecast period.

The PVC Packing Straps Market is poised for significant growth, driven by increasing demand across various industries such as logistics, construction, and manufacturing. PVC packing straps are valued for their durability, flexibility, and cost-effectiveness compared to traditional packaging materials.

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Key drivers fueling market expansion include rising global trade activities, growth in e-commerce, and stringent regulations promoting sustainable packaging solutions. Technological advancements in manufacturing processes are enhancing the quality and performance of PVC packing straps, further stimulating market growth. Market players are focusing on innovation, product diversification, and geographical expansion to capitalize on emerging opportunities and gain a competitive edge.

Key Takeaways from the Global PVC Packing Straps Market Study Report by FMI

In the current year 2023, the total sales of PVC packing in the United States are estimated to be around US$ 27 million. The focus of market players in this country on sustainability, and innovation in response to changing demands is anticipated to retain the dominance of North America.
The demand for PVC packing straps in Europe’s countries is surging with the growing requirement for cost-effective packaging solutions. However, for businesses looking to take advantage of the market potential in Europe, resolving environmental issues, using cutting-edge packaging technologies, and maintaining competitive pricing could be crucial.
China is projected to expand its production and export of PVC packing straps to the global market at an annual average rate of 5.7% during the forecast years. Further, PVC packing strap manufacturers in other Asia Pacific countries also have great chances to expand the range of products they sell during this period.

Competitive Landscape for the PVC Packing Straps Market Players

A few market players dominate the market by incorporating advanced packaging technologies and automation to enhance the efficiency and performance of PVC packing straps.

The competitive environment of the market has started influencing pricing tactics, forcing traditional pipe producers to adopt the production of PVC materials. However, to remain competitive, the start-ups entering the market must ensure that environmental standards are followed and solve issues with plastic waste and recycling.

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Both established and emerging market players have the chance to position recyclable and eco-friendly PVC packing straps as a competitive advantage given the growing attention being paid to sustainability.

PVC Packing Straps Market Outlook by Category

By Thickness:

Below 0.5 mm
0.5 mm to 0.75 mm
0.76 mm to 1 mm
Above 1 mm

By End Use Industry:

Food & Beverage
Pharmaceuticals
Electrical & Electronics
Automotive
Building & Construction
E-commerce
Chemicals & Fertilizers

By Region:

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

About Future Market Insights Inc. (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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Integrated Food Ingredients Market Poised for Growth, Expected to Reach USD 112.85 Billion by 2033

The integrated food ingredients market size accumulated a value worth USD 69,510.0 million in 2023. It is anticipated to reach a market value of USD 112,848.7 million by 2033, growing at a CAGR of 5.2% through 2033.

The market for integrated food ingredients is being pushed forward by factors such as

Growing popularity of food encapsulation technology
Improvements in high-efficiency equipment for mixing integrated food components
A growth in the number of end-use applications is a key macroeconomic variable positively driving the global integrated food ingredients market.
Nutrition and taste convergence, as well as rising demand for natural flavors and fragrances, will help to increase the market’s development rate.
Another important driver is the rising demand for convenience and processed foods, which will accelerate the rate of expansion of the integrated food ingredients industry.
Given their multi-functionality, hydrocolloids have a wide range of applications. This is likely to fuel the expansion of the integrated food ingredients industry.

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Consumer preferences are evolving often because of diet-diversified portfolios, growing urbanization, and the increased availability of foreign direct investment in the food sector. The rise in purchasing capacity, income, and large consumer demand for healthy and nourishing items are projected to present advantageous prospects for global growth and expansion.

Certain varieties of food product interests have become essential to some consumers’ identities. The integrated food ingredient industry and the processed food market have a tight association, with the former providing practical advantages and personalized value-added services based on end-user applications. Consumers today are more conscious of label claims, ingredient lists, and dietary profiles.

Norms regulating the type of ingredient used, a description of all constituents on labels, and other comparable regulations are stifling the expansion of the integrated food ingredients business. Government controls bind them because consumer health is a top issue. Furthermore, more developments are possible if government laws are loosened and more companies are encouraged to come up with better products.

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Key Takeaways

The United States controls the worldwide integrated food ingredients industry with a value share of 18.7% in 2023.
Germany accounts for 6.6% of the overall value of the global integrated food ingredients market in 2023.
Australia has 1.9% of the global market for fermented dairy ingredients.
China is exhibiting a phenomenal CAGR of 10.6% in the global integrated food ingredients industry.
In the global market for integrated food ingredients, India has a phenomenal CAGR of 4.8%.
Japan accounts for 4.0% of the global integrated food ingredients market value

Competitive Landscape

In the integrated food ingredients industry, there are many reputable businesses. Considering the market is still in its early stages of expansion, it provides thrilling possibilities for new enterprises to join. Furthermore, market leaders are employing a variety of organic and inorganic strategies to gain a competitive advantage.

Some of the key players proliferating in the market are

Archer Daniels Midland Company
BASF SE
Cargill, Incorporated
E. I. du Pont de Nemours and Company
Firmenich SA
International Flavors & Fragrances Inc.
Kerry Group
Koninklijke DSM N.V.,
Symrise
Tate & Lyle PLC

Recent Developments

IFF (International Flavours and Fragrances) Inc., a worldwide food, beverage, health, and bioscience leader in February 2023, entered into an agreement to sell its Flavour Speciality Ingredients (FSI) business to Exponent, a UK-based private equity firm for $ 220 million.
BASF, in July 2023, signed an agreement to supply Neopentyl Glycol from Zhanijang to KHUA. This letter of Intent was signed to establish a long-term partnership between both parties.

Key Segments in the Integrated Food Ingredients Market

By Source:

Microbial & Fermented
Artificial
Animal
Plant
Seaweed

By Product Type:

Sweeteners
Vegetable Fats & Oils
Food Hydrocolloids
Food Enzymes
Food Colors and Flavors

By End-Use:

Dairy Products
Frozen Foods
Meat, Poultry, Seafood
Pet Food
Sauces, Dressings, and Condiments
Beverages
Bakery and Confectionery
Snacks

By Functionality:

Stabilizer
Thickener
Leavening Agent
Emulsifiers
Fortifiers
Gelling Agent
Flavoring and Coloring Agent
Preservatives

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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
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Website: https://www.futuremarketinsights.com
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Bio Vanillin Market Set to USD 380.7 Million by 2033, Fueled by Demand from Plant-Based and Vegan Industries

The global bio vanillin market is anticipated to reach a valuation of US$ 191.3 million in 2023, driven by increasing demand from pharmaceuticals and food & beverage industries. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.6% between 2023 and 2033, and reaching a total valuation of approximately US$ 380.7 million by 2033.

One of the major factors contributing to the growth of the bio vanillin market is the growing adoption of plant-based and vegan diets, which has led to an increased need for natural flavoring agents in these products. Bio vanillin, derived from plant sources, is seen as a suitable option for enhancing the taste of plant-based and vegan foods, including dairy alternatives, plant-based protein products, and non-dairy desserts.

Bio vanillin is also used in the fragrance and perfume industry as a key component in creating sweet and aromatic scents. Bio vanillin is expected to witness increased demand, as the fragrance industry expands and seeks natural fragrance ingredients.

The incorporation of bio vanillin into functional foods and nutraceuticals is gaining traction. Bio vanillin can be used to improve the taste and palatability of products that offer health benefits, such as fortified beverages, dietary supplements, and wellness products.

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Ongoing research into the potential health benefits of bio vanillin, such as its antioxidant properties and potential therapeutic uses, could open up new applications and markets for this natural flavor compound.

Bio vanillin manufacturers are increasingly offering customized solutions to meet the specific flavor and aroma requirements of food and beverage companies. The ability to provide tailored solutions can enhance customer satisfaction and loyalty.

Companies in the bio vanillin market are investing in sustainable and environmentally friendly production practices. The investments not only align with eco-conscious consumer preferences but also reduce the environmental impact of production, making bio vanillin a more sustainable choice.

The emergence of new food trends, such as the demand for authentic and ethnic flavors, presents opportunities for bio vanillin. Its ability to enhance the taste profiles of diverse cuisines and specialty foods positions it favorably in these markets.

Key Takeaways from the Market Study

Global bio vanillin market was valued at US$ 178.1 million by 2022-end.
From 2018 to 2022, the market demand expanded at a CAGR of 7.3%.
China is expected to hold a dominant CAGR of 12.1% through 2033.
By application, pharmaceuticals & food & beverage segments to constitute CAGR of 7.1% and 7.0% respectively, through 2033.
From 2023 to 2033, bio vanillin market is expected to flourish at a CAGR of 7.6%.
By 2033, the market value of bio vanillin is expected to reach US$ 380.7 million.

Ongoing research into enhanced extraction techniques from natural resources like vanilla beans, is a major factor that is expected to propel the growth of the bio vanillin market in the near future, remarks an FMI analyst.

Competitive Landscape

Prominent players in the bio vanillin market are Evolva Holding, Firmenich SA, Solvay, De Monchy Aromatics, Advanced Biotech, Givaudan, Omega Ingredients Limited, Takasago International Corporation, Suzhou Function Group Co Ltd., and Apple Flavor & Fragrance Group Co., among others.

Recent Developments

In 2022, Firmenich announced plans to invest EUR 100 million in a new bio vanillin plant in France.
In 2021, Evolva Holding SA announced that it had received a $20 million investment from Mitsui & Co. to support the commercialization of its bio vanillin.
In 2021, Symrise AG announced that it had entered into a joint venture with BioAmber Inc. to produce bio vanillin from plant-based feedstock.
In the same year, Kemin Industries, Inc. announced that it had launched a new bio vanillin product that is made from sugarcane.

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Segmentation Analysis of the Bio Vanillin Market

By Application:

Food & Beverages
- Ice Cream
- Bakery and Confectionery
- Chocolate
- Other foods
Pharmaceuticals
Fragrances
Cosmetics
Others

By Region:

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

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.

Pea Starch Market to Reach USD 241 Million by 2034, Fueled by Growing Demand for Gluten-Free and Plant-Based Ingredients

The global pea starch market value is slated to total USD 130 million in 2024 and USD 241 million. Global sales of pea starch are estimated to surge at a CAGR of around 13.1% during the assessment period.

Several factors are stimulating growth of the pea starch market. These include rising demand for gluten-free ingredients, growing health and wellness trends, increasing interest in plant-based foods.

Pea starch’s popularity has a basis in peas’ public presence. The ingredient has been trusted for ages, whether it be their protein or flakes, and this trust is translating into the pea starch industry.

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The pea starch industry is slated to progress rapidly through 2034. Pea starch’s status as a gluten-free ingredient is winning it a plethora of supporters. In addition to the already gluten intolerant people, many other people are embracing gluten-free diets.

A large contributor to this shift of people is the fitness and gym culture propagating throughout the world. Celebrity fads are also contributing to many consumers turning gluten-free. The status of the product as a non-GMO ingredient is also helping it become more of a common entity in food formulation.

Pea starch is also climbing in popularity as an ingredient in weight loss products. The inclination of fitness enthusiasts is for organic ingredients, and, thus the starch is being used more in weight loss regimes.

The promotion of starch as an alternative is also supposed to add significant value to the market. Pea starch is replacing potato and tapioca starch in numerous food formulations. Similarly, high adoption of pea starch in bakery products will likely boost sales growth

Key Takeaways from the Pea Starch Market

The pea starch market is expected to be USD 130 million in size in 2024.
Based on nature, conventional is expected to account for 81.5% of the market share in 2024.
By end use, bakery products segment is anticipated to account for a share of 24.4% in 2024.
The United States is set to register a CAGR of 6.6% from 2024 to 2034.
Germany and the United Kingdom are predicted to record CAGRs of 5.6% and 4.3% respectively.

“Manufacturers in the pea starch market are relying on technology to get ahead in the market. The streamlining of production processes is a common strategy among industry players.,” says a lead analyst at Future Market Insights (FMI).

Who is Winning?

The pea starch market is highly competitive, with players of all scales looking to establish themselves in the landscape. Top companies in the market are competing with smaller brands to establish themselves in the marketplace. Some of the prominent companies in the market include Axiom Foods Inc., Dakota Dry Bean, Parrheim Foods, and Cargill Inc.

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Recent Developments in the Pea Starch Market

In May 2024, an alliance was struck between BioNeutra Global Corporation, Protein Industries Canada, and others to innovate in pea starch for food formulation.

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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global pea starch market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.

The study incorporates compelling insights based on nature (organic and conventional), grade (feed grade, food grade, and industrial grade), application (thickening and binding, gelling, texturizing, and others), and end use (soups and sauces, snacks and savory, bakery products, food processing industry, cosmetics, pharmaceuticals, and pet food industry) across several regions.

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.

Potato Flake Market Set to Grow to USD 11.92 Billion by 2034, Fueled by Rising Demand in Food Processing and Food Service Industries

The potato flake market is estimated to be worth US$ 8,056.80 million in 2024. Well-established popularity of processed food and snacks is making sure the demand for potato flakes remains strong. There is thus a firm base for the market to progress.

Through the year 2034, potato flake demand is set to progress at a CAGR of 4.8%. The food service industry is making increasing use of potato flakes as a thickening agent, in the preparation of delicacies such as soups and sauces. Mashed potatoes becoming more popular in non-traditional markets, such as Japan and China, which is also seeing the demand advance for the product.

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By 2034, it is forecasted that the market value will have reached US$ 12,824.10 million. Through the forecast period, the number of vegan and vegetarian people is anticipated to rise substantially. With potato-based products being a common fixture in vegan and vegetarian diets, the demand for potato flakes is anticipated to progress strongly in the forecast period.

There are however stumbling blocks in the path of the market. Bad quality potatoes, resulting in mediocre potato flakes, are a risk that market players have to face up to. Alternatives like arrowroot and cornstarch, as thickening agents, also eat into the progress of the market.

“Through the presence of the burgeoning food and food service industry, the demand for potato flakes is inflating. While the market has some inherent drawbacks, investors are investing in expanding production facilities to keep the demand moving. Thus, the market presents opportunities for investors,” says an analyst at FMI.

Key Takeaways from the Potato Flake Market

The potato flake market is anticipated to be US$ 8,056.80 million in value in 2024.
Frozen potato flakes top the form segment in the market. For 2024, frozen potato flakes are expected to account for 56.7% of the market share.
Food service/HoReCa industry makes predominant use of potato flakes. For 2024, food service/HoReCa industry is anticipated to account for 44.1% of the market share.
India is a promising country for the market. The CAGR for India over the forecast period is forecasted to be 7.8%.
Germany is a country poised to be lucrative for the market. For the 2024 to 2034 period, the CAGR for Germany is pegged at 5.5%.
The market is expected to register a CAGR of 3.3% in the United States over the forecast period.

Competition Analysis of the Potato Flake Market

Market players are concentrating on improving production facilities to advance in the market. With the expanding food industry, market players are targeting geographic expansion. Some of the prominent companies in the market include Nestlé S.A., Bob’s Red Mill Natural Foods Inc., Idahoan Foods LLC, and McCain Foods.

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Recent Developments in the Potato Flake Market

In March 2024, HyFun Foods announced plans to set up three new potato processing plants in India.
In February 2024, the Emsland Group laid out plans to more than double its production numbers at its potato processing facility in Emlichheim, Germany.

Key Segments

By Nature:

Organic
Conventional

By Form:

Frozen
Dehydrated

By End Use:

Business to Consumers
- Hypermarket/Supermarket
- Convenience Store
- Specialty Store
- Traditional Grocery
- Online Retailers
Business to Business
- Food Service Industry/HoReCa
- Food Industry
  - Soups & Premixes
  - Bakery
  - Snacks
  - Frozen Food
  - Baby Food
  - Meat Processing
  - Animal Feed

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)

About Future Market Insights (FMI)

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