Market Research Blog – Page 1764 – New Product Development

Geospatial Analytics Market is Expected to Reach a High Valuation of USD 34.5 Billion by 2032 | Future Market Insights, Inc.

The global geospatial analytics market is anticipated to be worth USD 10.6 billion. The market will reach USD 34.5 Billion by 2032, increasing at a 12.5% CAGR over the assessment period.

According to FMI, technological improvements in machine learning and artificial intelligence, as well as big data technologies for analyzing geographical data, are driving the geospatial analytics industry. Geospatial analytics gathers geographical data and imagery from earth observation, geographic information systems, global navigation and satellite systems and positioning, location sensors, and mobile devices, structures data visualization, and aids in the tracking of relationships between places and people.

As per the report, geographical information system development will be specifically strong in cities with a well-established base of database and cartography technology. This includes federal government agencies comprising the United States Geological Survey, Forest Service National Oceanic and Atmospheric Administration, National Imagery and Mapping Agency, and Federal Emergency Management Agency.

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The telecom industry is transforming quickly and needs the support of modern spatial technology to enhance its effectiveness and meet the increasing demand. Cell phone utilization is rising in emerging and developed nations, and telecom companies are looking to expand their reach. This quick diversification of the telecom industry is driving the usage of geographic information systems.

The geographic network has proven to be specifically useful in today’s telecommunication industry, as it offers the means to generate highly precise maps, increase asset location, and visualize details more effectively and interactively.

Utilizing geographic information tools at network installation, maintenance, and planning stages, telecommunication operators can lower network construction prices and make sure that their networks are formed in the right places. Thus, the increasing usage of GIS in the telecommunication industry will continue augmenting the growth in the market over the forecast period.

Key Takeaways from the Geospatial Analytics Market Report:

By component, sales in the solutions segment are anticipated to grow at a CAGR of 3% through 2032.
Based on application, demand in the network and location analysis segment is expected to increase at a CAGR of 8% over the assessment period.
In terms of deployment mode, the cloud segment is anticipated to expand at a CAGR of 5% through 2032.
Based on enterprise size, the small and mid-sized enterprises segment is estimated to grow at a robust CAGR of 4% through 2032.
By industry, the adoption of geospatial analytics in the agriculture segment is anticipated to grow at a CAGR of 8%.
South Asia and Pacific is expected to progress at the highest CAGR of around 6% followed by East Asia through 2032.
The market in Japan is expected to progress at a CAGR of around 6% through 2032.
In India, sales are expected to grow at a CAGR of close to 0% over the next ten years.

Competition Landscape:

Alteryx, Trimble Inc., Bentley Systems, Google, Esri, Oracle Corporation, Deloitte, General Electric, SAP, and Orbital Insights are some of the leading players operating in the global geospatial analytics market.

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Geospatial Analytics Market Segmentation:

By Component:

Solutions
Services

By Application:

Surface and Field Analytics
Network and Location Analysis
Geovisualization
Others

By Deployment Mode:

Cloud
On-premises

By Enterprise Size:

Large Enterprises
Small and Mid-Sized Enterprises (SMEs)

By Industry:

Energy and Utilities
Government and Defense
Telecommunication Industry
Mining and Natural Resources
Automotive
Agriculture
Others

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Air Transport MRO Market to Reach USD 130 billion by 2033, with a CAGR of 5% | FMI Reports

The global air transport MRO (Maintenance, Repair, and Overhaul) market is estimated to reach a valuation of USD 79.2 billion in 2023 and is projected to exceed USD 130 billion by 2033, with a CAGR of 5% during the forecast period.

The aircraft engine MRO sector is expected to experience significant growth, driven by the rapid expansion plans of airline and military fleets. Additionally, the aging military aircraft fleet in several countries is creating substantial demand for MRO services, as these nations seek to extend the service life of their aircraft due to budget constraints.

The introduction of new generation engines in aircraft is likely to boost demand for aircraft engine MRO, as these advanced engines require more expensive materials compared to older models.

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Advanced technologies that digitize and automate maintenance activities are anticipated to drive market growth. These innovations are expected to enhance the efficiency of the maintenance process, reduce turnaround time, and improve safety, benefiting engine MRO providers.

Increasing investments in aviation MRO software are set to create new growth opportunities in the global aircraft MRO market. This software includes components such as:

– Maintenance monitoring
– Maintenance scheduling
– Logbook tracking
– Budget forecasting
– Manuals
– Flying time tracking
– Electronic task card management
– Service bulletin management
– Work order administration

Aviation MRO software also facilitates compliance with regulatory agencies like the FAA and ICAO. Its main objective is to streamline maintenance processes and minimize downtime. The software has seen significant enhancements due to advancements in big data and analytics within the aviation industry.

The industry generates vast amounts of data, enabling MRO companies to improve operational efficiency and provide customized solutions tailored to the specific needs of airlines.

Key Takeaways:

North America’s air transport MRO industry is projected to expand with a CAGR of 4.8% during the forecast period.
The demand for air transport MRO in China is expected to capture a CAGR of 4.9% from 2023 to 2033.
By application, the engine segment is anticipated to thrive at a CAGR of 5.5% between 2023 and 2033.
The United Kingdom is expected to record an impressive CAGR of 4.5% throughout the forecast period.

The introduction of advanced technologies and rising investments in aviation MRO software is expected to fuel the market growth during the forecast period- Anticipates an FMI Analyst.

Competitive Landscape

The market for air transport MRO is highly competitive, with several key industry players making substantial investments in increasing their manufacturing capabilities.

The key industry players operating in the market include AAR Corporation, KLM Engineering & Maintenance, Delta TechOps, HAECO Ltd., Lufthansa Technik AG, Turkish Technic Inc., Singapore Technologies Engineering Ltd, Guangzhou Aircraft Maintenance Engineering Company Limited, Sabena Technics, Aeroman, Airbus SAS, SIA Engineering Company (SIAEC).

Some Recent Developments in the Air Transport MRO Market

In February 2021, SIA Engineering Company Ltd. established the Engine Services Division, focusing on research, development, and support for advanced aircraft engine servicing, repairs, wing testing, and more.
In July 2022, Delta TechOps, the MRO division of an airline, announced its signing of a CFM Branded Service Agreement (CBSA) to provide support for LEAP-1B engines. This agreement potentially allows Delta to join CFM’s MRO network for LEAP-1B engines.
AAR, a prominent MRO service provider for commercial and government operators, announced in October 2021, the renewal of their power-by-the-hour (PBH) component pool and repair support agreement with Flydubai. This five-year contract extends and reinforces the partnership initiated in 2016, aimed at delivering comprehensive rotatable component support for Flydubai’s Boeing 737NG fleet.

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Key Segments Profiled in the Air Transport MRO Market

By Application Type:

Airframe
Engine
Component
Line

By Aircraft Type:

Narrow Body Aircraft
Wide-Body Aircraft
Regional Jet
Turbo Prop

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Air Suspension Systems Market to Reach USD 13.0 Billion by 2033, with a CAGR of 9.6% | FMI Reports

The global air suspension systems market is projected to be worth USD 5.2 billion in 2023 and is expected to exceed USD 13.0 billion by 2033. Analysts at Future Market Insights estimated the market’s historical valuation at USD 4.9 billion for the base year.

The increasing use of heavy trucks in construction, logistics, and e-commerce industries in countries such as China, the U.K., Germany, and Japan is expected to drive global demand for air suspension systems.

According to FMI’s analysis, sales of air suspension systems in South Korea and Japan are set to grow by over 4% in 2021. Heavy trucks are predicted to account for over 54.1% of the volume share in 2021, while the trailer segment is estimated to have nearly 32.1% of the volume share by the end of the same year.

Sustainability concerns have boosted the adoption of electric vehicles, increasing the demand for electric buses as public transport worldwide. Consequently, with the rising production of commercial vehicles, the market is expected to grow significantly in the coming years.

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FMI estimates the air suspension systems market will experience a year-on-year growth rate of 5.6% in 2021.

Amid increasing competition, the top five players—Saf-Holland, Hendrickson USA LLC, BPW Group, Guangdong Fuwa Engineering Group Co., Ltd., and TMC Australia—are expected to account for 40% of the air suspension systems market in 2021.

Key Takeaways from FMI’s Air Suspension Systems Market Study

In terms of vehicle type, heavy truck will lead the segment through 2021 & beyond on the back of increasing construction activities across Germany, the U.S., and China
OEMs are expected to be the preferred sales channel over the aftermarket players, accounting for over 86.4% value share in 2021
Germany is anticipated to spearhead the growth across Western Europe owing to the surging commercial vehicle production across the country
The U.S is accounted to be one of the most lucrative market across the globe with increasing demand for luxury buses
India and China will lead the growth of air suspension systems across South & East Asia during the forecast period
U.K. will emerge as a highly lucrative market across Europe owing to the increasing construction activities and surge in production of heavy duty vehicles

“Increasing demand for luxury buses across the globe, especially within Germany, China and India, coupled with expansion of construction industry will propel the demand of air suspension systems, widening growth opportunities for the market players,” – says the FMI analyst.

Competitive Landscape

Prominent players operating in air suspension systems market are focusing on expansion of their customer base through product innovation and new launches.

Increasing need for air suspension systems have urged the key players to form strategic alliance with regional distributors. Partnerships with suppliers and aftermarket players will provide incremental opportunities for the key players.

In January 2021, air suspension specialist, Air Lift Company, announced the acquisition of air tank manufacturer Flo Airride Mfg., Flo Airride. Through this acquisition, Air Lift Company will provide air suspension products to lower their vehicles along with the customization of the product.

Tenneco Inc., a global supplier of clean air products and systems, in 2018, announced the launch of CVSA2 semi-active suspension technology, Monroe® Intelligent Suspension, originally developed for the use of sports car, have been adopted for the SUVs and off-road vehicles.

Some of the key players proliferating in the market are

Continental AG, ThyssenKrupp AG, WABCO, Hendrickson USA, L.L.C., Dunlop Systems and components, Hitachi Automotive, Ltd., ZF Friedrichshafen AG, Magneti Marelli S.p.A., Accuair Suspension, Firestone Industrial Products, Beijing West Industries Co., Ltd., Mando Corporation, LORD Corporation, Air Lift Company, VB-Air suspension

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Air Suspension Systems Market by Category

By Vehicle Type:

Buses & Coaches
Trailers
Heavy Trucks

By Sales Channel:

OEM
- Electronic Operated Systems
- Non Electronic Operated Systems
Aftermarkets
- System
- Components

By Region:

North America
Latin America
Eastern Europe
Western Europe
South East Asia
China
India
Japan
Middle East and Africa (MEA)

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Retread Tire Market Expansion Forecast: USD 20 Billion by 2033, with a CAGR of 6% | FMI Reports

The global retread tire market is projected to reach USD 11.2 billion in 2023 and is expected to grow to USD 20 billion by 2033, with a CAGR of 6% during the forecast period.

This significant growth is primarily driven by the rising prices of new tires, especially for sports utility vehicles, due to increased natural rubber costs and the volatility of crude oil prices. Additionally, the expanding number of commercial vehicles worldwide is anticipated to be a major catalyst for market expansion.

Tire manufacturers are increasingly recognizing the opportunities in the retread tire market and are striving to meet the growing demand. The popularity of retread tires among consumers has led to major tire companies investing in research and development to align with this trend.

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In September 2021, Bridgestone Corporation introduced its latest commercial vehicle portfolio, which featured advanced mobility solutions and innovative tire retreading concepts. The highlight was the Bridgestone Duravis R002 premium tire, known for its exceptional wet grip, optimal fuel efficiency, and durable carcass. Bridgestone anticipates that this retreaded tire will satisfy the performance and reliability needs of commercial vehicle users.

The eco-friendly characteristics and cost-effectiveness of retreaded tires are expected to drive the market forward. Retreading allows for the reuse of existing tires, reducing landfill waste, lowering carbon dioxide emissions, and conserving significant quantities of oil that would otherwise be needed for new tire production. These factors contribute to sustainability and resource conservation in the tire industry.

Key Takeaways from the Retread Tire Market Report:

United States retread tire market is expected to grow with a CAGR of 5.8% during the forecast period.
The market in China is expected to grow with a CAGR of 6.2% during the forecast period.
By vehicle type, heavy commercial vehicle is projected to dominate the retread tire market. It is expected to grow with a significant CAGR of 6.5% during the forecast period.
By process, pre-cure retreading segment is expected to grow with a CAGR of 6.6% throughout the forecast period.

Competitive Landscape:

The retread tire market is highly competitive, with several key industry players investing heavily in the production of these tires.

The key industry players are Continental AG, MRF, YOKOHAMA RUBBER COMPANY, Rosler Tech Innovators, Michelin, Bridgestone, The Goodyear Tire & Rubber Company, Carloni Tire, JK TYRES, Eastern treads, Nokian tyres plc, KRAIBURG Austria Gmb, Pilipinas Kai Rubber Corporation, Kit Loong Commercial Tyre Group, Fortune Tire Tech Limited, Tread Wright Tire, CIO Tyres Pvt. Ltd., Vaculug Tyres, King Meiler Tyres.

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Recent Developments:

Key market players are leveraging organic growth strategies like acquisition, mergers, tie-ups, and collaboration to bolster their product portfolio. This is expected to propel the global retread tire market.

In February 2022, Bridgestone Corporation announced that its ALENZA 001 tire had been selected as the official original equipment for the Nissan Ariya, a compact crossover electric vehicle (EV) sport utility vehicle.
In July 2021, Michelin North America broadened its portfolio of tire retread technologies with the introduction of two new pre-mold retreads. One of these innovations is the Michelin X ONE Line Energy T2 Pre-Mold Retread, designed specifically to improve the total cost of ownership for the line-haul market in North America.
In November 2021, Nokian Tires declared its plans to substantially boost the production capacity of passenger car tires at its factory in Nokia, Finland.

Retread Tire Market Segmentation:

By Vehicle Type:

Passenger Cars
LCV
HCV
Off-Road Vehicle

By Process:

Pre-cure
Mold cure

By Sales Channel:

OEM
Independent Service Provider

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Capture Opportunities in the Vegan Pizza Crust Market Hits to USD 1.87 Billion by 2033: Innovate and Expand with Gluten-Free and Organic Options

The demand for vegan pizza crust market is experiencing strong growth, driven by a number of factors. The increasing demand for vegan options, health and wellness trend, and convenience are driving the growth of the market. The market is expected to be valued at US$ 989.1 million in 2023 and to reach a valuation of US$ 1866.5 million by 2033. The Sales of vegan pizza crust is estimated to grow at a steady 7.3% CAGR, with the U.K., the U.S., China, and India emerging as key producers.

One of the key drivers of the vegan pizza crust is the increasing demand for vegan options. The number of vegans in the world has been steadily increasing in recent years, and this trend is expected to continue. As more people adopt a vegan lifestyle, the demand for vegan pizza crusts is likely to increase. Companies are innovating and creating new and exciting vegan crust options, such as gluten-free, whole wheat, cauliflower crusts, etc to cater to the changing consumer preferences. Gluten-free, organic and vegan crusts are becoming more popular among consumers, and are expected to drive the vegan pizza crust in the future.

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Another driver of the market is the health and wellness trend. Many people are becoming more health-conscious and are looking for options that are lower in fat, calories, and cholesterol. Vegan pizza crusts are typically made from plant-based ingredients, which are often considered to be healthier than traditional pizza crusts made from animal products.

The vegan pizza crust market is relatively diverse with a mix of large established companies and small startups. There is a growing number of startups entering the vegan pizza crust market with innovative and unique vegan crust options. Many of these startups are focusing on niche segments such as gluten-free, organic, and plant-based options to cater to the growing demand for vegan pizza crusts. They are also focusing on sustainable packaging and sourcing of ingredients, which are becoming more important for consumers.

However, the vegan pizza crust market also faces some restraints. One of the main restraints is the lack of awareness among consumers about the availability of vegan pizza crusts. Additionally, the high cost of vegan pizza crusts compared to traditional crusts can also be a restraint for some consumers.

Despite the restraints, the vegan pizza crust is expected to continue to grow in the future as more and more people adopt veganism and become more health-conscious.

Key Takeaways

The increasing demand for vegan options, health and wellness trend, and convenience are driving the growth of the market.
Companies are innovating and creating new and exciting vegan crust options, such as gluten-free, whole wheat, cauliflower crusts, etc to cater to the changing consumer preferences.
Gluten-free, organic and plant-based crusts are becoming more popular among consumers, and are expected to drive the market growth in the future.
The market is relatively diverse with a mix of large established companies and small startups, and is expected to see more startups entering the vegan pizza crust market with innovative and unique vegan crust
Private label brands are becoming increasingly popular among consumers and are expected to drive the market growth in the future.

Competitive Landscape

The competitive landscape of the vegan pizza crust market is relatively diverse, with a mix of large established companies and small startups. The market is characterized by the presence of several well-established players such as Daiya, Tofurky, Dr. Oetker, Follow Your Heart, Caulipower, and Amy’s Kitchen. These companies have a strong presence in the market and have a wide range of products catering to different dietary needs. They also have a strong distribution network and a good brand reputation in the market.

On the other hand, there are also several small and medium-sized startups that are entering the market with innovative and unique vegan crust options. These startups are focusing on niche segments such as gluten-free, organic, and plant-based options to cater to the growing demand for vegan pizza crusts. They are also focusing on sustainable packaging and sourcing of ingredients, which are becoming more important for consumers.

The startup ecosystem in the vegan pizza crust market is relatively new and is still evolving. There is a growing number of startups entering the market with innovative and unique vegan crust options. Many of these startups are focusing on niche segments such as gluten-free, organic, and plant-based options to cater to the growing demand for vegan crusts. They are also focusing on sustainable packaging and sourcing of ingredients, which are becoming more important for consumers.

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Key Segments

Ingredient:

Wheat
Corn
Rice
Others

Type:

Thin crust
Thick crust
Stuffed crust

Distribution Channel:

Supermarkets and hypermarkets
Convenience stores
Online channels
Others

By Application:

Household
Food service
Commercial

Region:

North America
Latin America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)

About Future Market Insights (FMI)

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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According to FMI Sports Betting Market Size, Forecast, Analysis & Share Surpass USD 245,792.4 Million | 2033, At 10.3% CAGR

The sports betting industry is predicted to be worth USD 91,940.9 million in 2023, rising at a CAGR of 10.3% to USD 245,792.4 million by 2033. The expanding prevalence of connected devices, sports betting implementation, and developing digital infrastructure all add to the increasing demand for sports betting.

The increased desire for the digitalization of sports betting might have a positive effect on the online section of the sports betting industry, which is expected to enjoy substantial growth throughout the projected period. However, to provide consumers with new sports betting market options for employment and enriching experiences, several governments are establishing frameworks influencing forthcoming trends in the sports betting market.

One of the important developments in the sports betting market is the expanding impact of technologies including blockchain, virtual reality, and AI, notably machine learning tools. Moreover, the sports betting market is predicted to grow over the forecast period due to rising consumer demand for sports betting, which is being fueled by technological developments.

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Key companies in the sports betting sector are progressively focusing a considerable amount of their efforts on machine learning tools and approaches that have shown promising outcomes in prediction. Further, machine learning aids in accelerating the creation of predictive algorithms and precise forecasting models, resulting in increased betting efficiency.

Sports bettors are likely to become familiar with new machine-learning algorithms that seek to forecast the outcomes of games and races. As a result, during the projected period, the expansion of machine learning is estimated to be a benefit to the global sports betting business.

Key Takeaways

In 2022, North America held a 28.1% market share.
In 2022, the United States captured a 16.5% market share.
India’s market is expected to develop at a CAGR of 13.4%.
China’s market is expected to increase at an 8.2% CAGR.
The football segment accounted for 20.2% of the worldwide sports betting market.

Competitive Landscape

The top sports betting market operators focus on establishing engaging websites and giving exclusive deals to acquire a competitive edge in the sports betting business.

Bet365’s e-sports betting service was available in Colorado beginning in September 2022. The sportsbook company was operating with its betting service on the market after obtaining one of Century Casinos’ master licenses from the state.
William Hill, a sports betting and web-based casino administrator, created its main brand and stated plans to significantly increase its profits in Latvia in May 2022. In addition, William Hill intends to leverage existing media relationships with bespoke creatives based on the Brotherhood brand approach.

Key Players

888 Holdings Plc
Bet365
Betsson AB
Churchill Downs Incorporated
Entain plc
Flutter Entertainment Plc
IGT
Kindred Group Plc
Sportech Plc
William Hill Plc

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More Valuable Insights

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

The study reveals essential insights ByPlatform (Offline, Online), by Betting Type(Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others), By Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others)& Region.

Sports Betting Market: Key Segmentation

By Platform:

Offline
Online

By Betting Type:

Fixed Odds Wagering
Exchange Betting
Live/In-Play Betting
Pari-mutuel
eSports Betting
Others

By Sports Type:

Football
Basketball
Baseball
Horse Racing
Cricket
Hockey
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia & Pacific
East Asia
The Middle East & Africa (MEA)

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Unlock Growth in the Fortified Rice Market Hits to USD 34.50 Billion by 2033: Meeting Global Nutrition Needs with Innovative High-Acyl Solutions

The fortified rice market revenue is projected to be US$ 20.20 billion in 2023 and the market is expected to reach US$ 34.50 billion by 2033, recording a CAGR of 5.5%. High solubility and ability to form an elastic gel at high temperatures of 80°C make it ideal for high-temperature applications. Governments worldwide are increasingly taking action to improve nutritional value in food products.

Acute and chronic malnutrition, as well as vitamin and mineral deficiencies, damage the health, productivity, and development of about half of India’s children. Productivity, development, and health can all be negatively impacted by micronutrient deficits.

It is feasible to solve the problem by adding vitamins and minerals to everyday foods like rice, as well as by supplementing micronutrients and changing up diets. This has led to the fortification of rice, which has emerged as a sustainable & cost-effective measure for providing nutrition to people globally. The worldwide food and beverage sector is anticipated to expand as more fortified rice with high acyl levels is used in milk products, plant-based protein drinks, fruit juices, and other beverages. High-acyl-fortified rice is also used as a suspension element for milk products, plant-based protein drinks, and fruit juices.

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“Due to the sustainable and cost-effective measures, manufacturers are taking measures to provide nutrition to the population, the global fortified rice market is witnessing vibrant growth.” – says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

The fortified rice market is expected to record a CAGR of 5.5% over the forecast period.
According to estimates, the fortified rice market in the China and India remains strong throughout the forecast period.
By 2033, China is expected to hold a 40% share in Asia Pacific and its market size is expected to be US$ 8.82 billion.
Conventionally produced cereal grains are readily available, so the non-organic segment accounted for the significant share in 2023.

Competitive Landscape:

In the fortified rice market, there are numerous international and regional players competing, making it highly competitive. Several prominent companies dominate this market, including Cargill Incorporated, BASF SE, General Mills Inc, Willmar International Ltd, Aroma Fields, KRBL Ltd, Bunge Ltd, REI Agro Ltd, LT Foods, Hain Celestial (Tida Rice), and others.

To gain a dominant market share, companies are focusing on price, quality, ingredients, and promotions. This market is highly consolidated, with these players holding the majority share. To expand their presence and maintain their position in the market, these companies are investing more in research and development to develop consumer-driven fortified rice and ingredients.

Recent Developments:

An American food company, Cargill, submitted an offer to acquire Sanderson Farms in Mississippi. Sanderson’s stockholders approved the deal. It is estimated that the acquisition is worth around US$ 4.5 billion ($203 per share).
On January 20, 2021, that “LT Foods,” an Indian rice milling company based in Gurugram, had acquired a 30% stake in Leev.nu, a Dutch packaged food company. Nature Bio Foods BV (a subsidiary of LT) was acquired as part of the transaction to strengthen Nature Bio’s snacking business.
On August 28, 2019, Ebro Foods, a food processing company based in Madrid, Spain, which produces vast amounts of rice, announced its successful purchase of Tuna Rice from Hain Celestial, a company based in New York. For the acquisition to be completed, Ebro paid $342 million (all cash).

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Fortified Rice Market Segmentation by Category

By Micronutrients:

Vitamins
Minerals
Other Micronutrients

By Technology:

Drying
Extrusion
Coating & Encapsulation
Other Technologies

By Nature:

Conventional Farming
Organic Farming

By Distribution Channel:

Modern Trade
Convenience Stores
Departmental Stores
Drug Stores
Online Stores
Other Distribution Channels

By End-Use:

Residential
Commercial

By Region:

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

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Seize the Opportunity: Leading the Growth in Vegan Protein Foods Market Hits to USD 19.06 Billion by 2033

The global demand for vegan protein foods market is worth US$ 10.32 Billion as of now and is expected to reach US$ 19.06 Billion by the year 2033 at a CAGR of 7% between 2023 and 2033.

The manufacturers of vegan protein foods are into aesthetic and bodybuilding applications using vegan protein. As per study published by the NIH (National Institute of Health) in 2019, wheat is a staple food for people across the globe. The trend of veganism has actually set the ball rolling for vegan protein foods market.

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Aquatic proteins are also tried out. They could be safely used by deploying advanced aquaculture techniques.

Besides, while replacing the eggs in recipes like vermicelli, pasta, cookies, and cakes, it’s advisable to go for pea protein as it does not compromise on protein content. Plus, more than 50% of the people in the US are intolerant to the eggs and various other egg products as per the CDC. This is, in fact, a lucrative opportunity for the people to resort to vegan protein foods.

Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Vegan Protein Foods Market’ through its team of analysts and consultants.

“With demand for more natural and organic foodstuff, the global vegan protein foods market is bound to grow on an astounding note in the near future”, says an analyst from Future Market Insights.

Key Takeaways from Vegan Protein Foods Market

North America holds the largest market share due to almost 3% of the overall population of the US following vegan protein diet. The sports nutrition vertical leads the vegan protein foods market in the US and Canada.
Europe is expected to grow on the back of almost 1% of the population turning vegan. France, Italy, and Germany are leading from the front.
The Asia-Pacific is expected to grow at a notable rate in the vegan protein foods market in the forecast period due to growing awareness regarding the long-term benefits of vegan protein.

Competitive Arena

Beyond Meat tables various meat alternatives like sausages, burgers, and ground beef.
Tofurky does specialize in production of meat alternatives made from tofu and various other plant-based proteins. The products provided include sausages, deli slices, and roasts.
Field Roast is known for producing artisanal grain meat products with plant-based roasts and sausages.
Quorn Foods manufactures a broad range of the meat-free products from mycoprotein (a protein source made from fungus). They include burgers, sausages, and nuggets.
The Meatless Farm Co. makes use of blend of wheat, soy, and pea protein for creating meatballs, sausages, and burgers.
Vivera produces plant-based meat alternatives like steak, sausages, and burgers.
Linda McCartney Foods does produce a broad range of vegan meat alternatives like pies, burgers, and sausages.
Zhenmeat produces various meat alternatives like pork, beef, and chicken by making use of 3D printing technology.
Ojah, a China-based start-up, does produce plant-based meat alternatives like meatballs, burgers, and sausages using soy and pea protein.
Yihai Kerry Group produces plant-based protein products like wheat protein, pea protein, and soy protein.
Good Dot does produce vegan kebabs, sausages, and burgers.
Meatless Farm Co., an Indian start-up, does produce plant-based meat alternatives like meatballs, sausages, and burgers using a blend of pea, wheat, and spy protein for creating products.
EVO Foods churns out plant-based meat alternatives like kebabs, sausages, and burgers using a blend of pea, wheat, and soy protein.
Green Chef does specialize in vegan food products. It offers ready-to-eat snacks, meals, and protein supplements.
ADM, in September 2020, came up with Arcon T (a range of textured pea proteins) for improvising on its product portfolio.
ADM, in September 2020, did launch Prolite MeatTEX and Prolite MeatXT. These fall in the category of textured and non-textured wheat proteins respectively; which do enhance density and texture of the meat alternatives.

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Key Segments

Product Type:

Soy Protein
Wheat Protein
Pea Protein

Form:

Isolates
Concentrates
Hydrolysates

Nature:

Organic
Conventional

Application:

Nutritional Products
Bakery, Snacks & Cereals
Dairy, Confectionary and Dessert
Convenience Food
Beverages
Animal Feed

Region:

North America
Latin America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)

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Exploit Opportunities in the Liqueur Market Hits to USD 181.93 Billion by 2033 with Innovative Applications and Flavor Varieties

The global demand for liqueur market is estimated to reach USD 130.23 billion in 2023 and is projected to reach a revised size of USD 181.93 billion by 2033. The market is expected to register a CAGR of 3.4% over the forecast period.

Due to its unique taste and availability in different flavors, the liqueur is becoming popular as an after-dinner digestive, appetizer, and cocktail ingredient. The liqueur market is also experiencing an increase in demand for different types of liqueurs due to the market’s growing popularity.

During the forecast period, liqueurs are likely to be used in baked goods, confectionery, and desserts, resulting in increased consumption of these products. Liqueurs are also likely to be used in chocolate, truffles, and other recipes, contributing to market growth. The increasing popularity of liqueur types among the youth, such as Grand Marnier, Amaretto, Sambuca, Cointreau, Bailey’s Irish Cream, and Kahlua, liqueur prices are also driven by this factor.

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“The liqueur is also becoming popular as an after-dinner digestive, appetizer, and cocktail ingredient due to its unique taste. The liqueur market is also experiencing an increasing demand for different types of liqueurs.” says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

The liqueur market is expected to record a CAGR of 3.4% over the forecast period.
According to estimates, the liqueur market in North America will remain strong throughout the forecast period.
In 2023, the United States held a 78% share of the liqueur market, and the demand for liqueurs is expected to remain strong in North America.
With a 50% share of the market in Asia Pacific, the liqueur market in China is anticipated to increase by 3.5% in the next few years.

Competitive Landscape:

Several prominent companies dominate this market, including Bacardi Limited, Beam Suntory Inc., Brown-Forman Corporation, Diageo Plc, Davide Campari-Milano S.p.A., GirolamoLuxardo S.p.A, Lucas Bols B.V., Mast-Jägermeister SE, Pernod Ricard SA, Remy Cointreau, DeKuyper Royal Distillers, E. & J. Gallo Winery, Peel Liqueur, Sazerac Company, Stock Spirits Group.

Key manufacturers employ a variety of strategies to compete in an increasingly competitive environment, including the launch of updated products, and the approval of mergers and acquisitions, partnerships, and collaborations.

Recent Developments:

In June 2019, Shipyard launched Low Tide, launched a pale ale with minimal alcohol content. Based on the name, Low Tide has an alcohol content of only 0.5%. According to the firm, the new launch is an alternative for quality low alcohol.
Introduced in 2021, a new zero-alcohol pale ale from Gordon’s. The Ultra-low Alcohol Gin & Tonic Flavoured Drinks contain 0.5% ABV and only 68 calories, compared to 219 calories in a normal gin and tonic.
As of April 2019, Smirnoff released a new fruit-infused vodka line called Smirnoff Infusions, which includes orange, grapefruit, bitters, raspberries, and rhubarbs.

About Food & Beverage Division at Future Market Insights

The food & beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill clients’ unique business intelligence needs worldwide. With a catalog of more than 500 reports about the latest statistics and analyses from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.

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Liqueurs Market Segmentation by Category

By Type:

Neutrals/Bitters
Creams
Fruit Flavored
Others

By Packaging:

Glass
PET Bottle
Metal Can
Others

By Distribution Channel:

Convenience Stores
On-premises
Retailers
Supermarkets

By Region:

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

About Future Market Insights (FMI)

Capture Growth in the Dairy-Free Cream Market Hits to US$ 777 Million by 2033: Meeting Rising Demand with Innovative Plant-Based Solutions

The demand for dairy-free cream market is projected to be worth US$ 413.9 million in 2023 and US$ 777 million in 2033. The United Kingdom, the United States, China, and India are expected to emerge as major producers as the demand for dairy-free cream is predicted to increase at a steady 7.2% CAGR.

The demand for dairy free products has been increasing in recent years, driven by a variety of factors. One of the main drivers is a growing interest in plant-based diets, as more consumers are choosing to reduce their consumption of animal-based products for health, ethical, and environmental reasons. This trend has led to an increase in the availability and variety of dairy-free cream options on the market, such as those made from nuts, seeds, and legumes.

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Another important trend is the rising awareness of the environmental impact of dairy production. Dairy farming has a large carbon footprint and can lead to deforestation and other negative environmental impacts. As consumers become more conscious of these issues, they are increasingly choosing to opt for plant-based alternatives to dairy products, including cream.

The increased prevalence of lactose intolerance and other food allergies is another trend driving the demand for dairy-free cream. Many individuals who are lactose intolerant can’t consume traditional dairy cream and so opt for alternative options.

In response to this increasing demand, many companies have begun to invest in product development and innovation in the dairy-free cream market, creating new plant-based alternatives that are designed to mimic the taste and texture of traditional dairy cream. This includes the use of technology such as fermentation, to make cream-like dairy free products that are as close to the traditional cream as possible.

Key Takeaways

The demand for dairy-free cream is expected to experience significant growth in the coming years, driven by increasing consumer demand for plant-based alternatives to dairy products.
The rising awareness of the environmental impact of dairy production and lactose intolerance are major factors that are expected to contribute to the growth of the market.
The advent of technology such as fermentation is expected to enable companies to produce dairy-free cream that mimics the taste and texture of traditional cream, leading to increased adoption of these products.
The market for organic and natural dairy free products is also expected to grow as consumers are becoming more health-conscious and looking for products that are free from artificial preservatives and ingredients.
Companies in the market are expected to focus on product innovation, brand building, and targeted marketing to gain a competitive edge.

Competitive Landscape

The dairy-free cream market is a relatively new and rapidly growing market, but it is becoming increasingly competitive as more companies enter the space. The market is still highly fragmented, with many small and medium-sized companies and relatively few large players.

The major players in the market are companies that already have a strong presence in the broader plant-based foods market, such as plant-based milk companies. Some of the key players in the dairy-free cream market include companies like Ripple Foods, Califia Farms, and Silk. These companies produce a wide variety of dairy-free cream and dairy free products, such as almond-based and oat-based creamers.

Another group of key players are the traditional Dairy cream producers, who have branched out into dairy-free creams as an alternative offering to their consumers. These companies have an advantage as they already have strong distribution networks, established brands and a wider range of offerings to consumers.

Small and medium-sized companies are also starting to enter the market, with many of them focused on niche segments such as organic, gluten-free, and non-GMO products. These companies tend to be more specialized and often target a specific consumer demographic, such as health-conscious consumers or individuals with food allergies.

Overall, the competitive landscape of the dairy-free cream market is constantly evolving as new companies enter space and existing players expand their offerings. Companies that can differentiate themselves through product innovation, brand building, and targeted marketing are most likely to succeed in this competitive market.

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Key Segments

Product Type:

Soy cream
Almond cream
Oat cream
Coconut cream
Others

Source of Ingredients:

Soy
Almonds
Oats
Coconuts

Application:

Baking
Cooking
Topping

Distribution channel:

Supermarkets
Grocery stores
Health food stores
Online

End-use:

Commercial
Household

Region:

North America
Latin America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)

About Future Market Insights (FMI)