Market Research Blog – Page 1777 – New Product Development

Sales of Herb Oil Market to Reach USD 3.25 Billion by 2033, Growing at 8.4% CAGR Driven by Demand for Tailored Wellness Solutions

The herb oil market revenue is predicted to be valued at US$ 1,449.1 million in 2023 and US$ 3,255.8 million by 2033. Over the projection period, the herb oil market is expected to surge at a CAGR of 8.4%.

The market is witnessing a surge in demand for herb oil blends tailored for specific purposes, such as stress relief, immune support, and relaxation. As consumers increasingly seek holistic wellness, creating purpose driven combinations can tap into these emerging needs. With the growing popularity of CBD and its potential health benefits, combining CBD with herb oils is a promising avenue. This synergy can offer consumers a more comprehensive approach to well being.

Eco conscious consumers are prioritizing sustainably sourced ingredients. Companies investing in responsible sourcing, organic farming, and transparent supply chains can capitalize on this trend. The rise of customization and personalization is reshaping the herb oil market. Tailoring herb oils to individual preferences or health requirements can set a brand apart.

Exploring unconventional uses for herb oils, such as in cosmetics, aromatherapy, or culinary applications, can unlock new markets and customer segments. Leveraging digital platforms for education, marketing, and sales is crucial. Brands can connect with tech savvy consumers by providing information and guidance on the benefits and usage of herb oils.

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Key Takeaways from the Herb Oil Market

In 2022, the United States took the lead in the herb oil market, commanding a market share of 23.0%.
The United Kingdom is poised for an 8.0% CAGR by 2033.
China is at the forefront, anticipating a 10.0% CAGR surge through 2033.
The basil segment is dominated the market with a market share of 24.60% in 2022.
The personal care and cosmetic segment held a market share of 35.50% in 2022.

“In the herb oil market, continuous growth is expected as consumer demand for natural and holistic products rises. Quality and transparency will be key drivers in this evolving landscape,” says an FMI analyst.

How Key Players are revolutionizing the Herb Oil market?

The herb oil market is transforming, driven by critical players revolutionizing the industry. These market leaders are reshaping how we perceive and utilize herb oils, bringing innovation, quality, and sustainability to the forefront.

These key players focus on sourcing high-quality herbs and employing state of the art extraction techniques. They understand the importance of preserving herb oils’ purity and therapeutic properties, making them more potent and beneficial for consumers. These players often commit to sustainable organic farming practices, ensuring a responsible and eco friendly supply chain.

They are expanding their product portfolios by introducing unique blends and applications for herb oils, catering to a broader range of consumer needs. By embracing technology, they offer convenient packaging and distribution channels, making these oils more accessible to consumers worldwide. Education and transparency are becoming paramount. Key players provide valuable information about benefits, uses, and potential side effects of herb oils, helping consumers make informed choices.

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Product Portfolio

Symrise AG is a global leader in creating and producing fragrances, flavors, and cosmetic ingredients. With a rich history of over 220 years, Symrise specializes in crafting unique sensory experiences that enrich products and captivate consumers worldwide.
Young Living Essential Oils LC is a premier provider of pure, authentic essential oils and wellness products. Their commitment to quality and sustainability sets them apart, ensuring that customers enjoy the benefits of natural, therapeutic grade oils and holistic well being.
Givaudan SA is a renowned global company dedicated to the art and science of flavor and fragrance creation. With a legacy of innovation spanning centuries, Givaudan combines creativity and precision to delight the senses, enhancing various products across various industries.

More Insights Available

Future Market Insights offers an unbiased analysis of the herb oil market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the herb oil market, the report is segmented on the basis of Product Type (Basil, Mint, Thyme, Dill and Other Herbs), Application (Personal Care and Cosmetic, Food & Beverage, Pharmaceutical, Aromatherapy, Industrial and Other Application), Extraction (Distillation, Solvent Extraction, Cold Pressing and Other Extraction Method), across 7 major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).

About Future Market Insights (FMI)

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

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Rising Adoption of Fortified Dairy Products Enhances Market Growth to USD 223.4 Billion by 2032, Fueled by Increased Fortification Technologies | Future Market Insights, Inc.

According to Future Market Insights (FMI), The Global Fortified Dairy Products Market size was estimated at USD 109,485 million in 2021 and expected to reach USD 223,441 million in 2032, at a CAGR of 6.7%.

Nations across the world are recognizing the need of fortifying dairy products and are accepting the idea, which is anticipated to boost sales. However, because fortified dairy products are significantly more expensive than non-fortified dairy products, their adoption is likely to be limited.

Furthermore, when dairy products are supplemented with vitamin D, calcium absorption is enhanced as well as calcium in the blood are maintained. Health-conscious consumers are turning to yoghurt as a better alternative to calorie-dense dairy products like ice cream and milkshakes. The increased use of fortification technology in yoghurt has boosted sales of functional foods with important functionalities.

Producers are focusing on increasing the use of fortified processes for a variety of dairy products, such as yoghurt, cheese, and so on, leading to increased revenues of fortified dairy products and therefore driving the growth of the Market during the forecast period.

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Key Takeaways from Market Study

North America lead the Fortified Dairy Products Market, with a 45 percent share.
The worldwide Fortified Dairy Products market is predicted to grow rapidly in Asia Pacific excluding Japan (APEJ) due to increased demand for healthier foods..
During the forecast period of 2022-2032, the flavoured milk category is predicted to develop at the fastest rate in terms of value, with a CAGR of x.x %.
During the forecast period of 2022-2032, the mineral segment is predicted to develop at the fastest rate in terms of value, with a CAGR of 7.3 %.
Market players are experimenting with new ways on increasing production capacity and also doing research and innovation to create products.

“The Fortified Dairy Products Market is being propelled by increasing technological innovation, which promotes the production of dairy products that are favourable to one’s health.”, –says a lead analyst at Future Market Insights.

Competitive Landscape

Fortified Dairy Products have a strongly competitive global market. The Fortified Dairy Products Market is going forward as producers focus on developing a variety of baked items that will enhance customer demand.

Some of the leading companies offering Fortified Dairy Products are Arla Foods UK Plc, Nestlé S.A., BASF SE, General Mills, Inc., Danone, Dean Foods Company, Bright Dairy & Food Co., Ltd., China Modern Dairy Holdings Ltd, GCMMF Ltd., and Fonterra Group Cooperative Limited.

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

The study divulges compelling insights on the Fortified Dairy Products based on Micronutrients (Minerals, Vitamins, Other Fortifying Nutrients),Type (Flavored Milk, Milk , Dairy Based Yogurt , Milk Powder, Cheese, Other Products), Sales Channel (Drug Stores Departmental Stores, Convenience Stores, Modern Trade, Online Stores, Other Sales Channel).

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Rising Energy Efficiency Demands Propel Global Air Fryer Market Growth to USD 1.88 Billion by 2034 | Future Market Insights, Inc.

The air fryer market value is poised for significant growth, with the global market size projected to reach US$ 982 million in 2024. The demand for air fryers is expected to witness a CAGR of 6.7% from 2024 to 2034. By 2034, the air fryer sales are anticipated to reach a valuation of US$ 1,883 million.

The main catalyst of the air fryer market expansion is the launch of novel items with enhanced designs. Demand for air fryers is expected to be driven by growing health consciousness and knowledge of eating a healthy diet, which is likely to encourage market expansion. Hospitals, hotels, and restaurants are anticipated to have significantly impacted the convection air fryer industry growth. The strong demand for energy-efficient products is expected to expand the market expansion of oil-less fryers.

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Air Fryers Soar as Consumer Awareness Shifts Towards Healthier Lifestyles

Consumers’ growing health and fitness consciousness is augmenting demand for air frying technology. The use of harmful fats, linked to several health problems like heart disease and high cholesterol, can be decreased by utilizing an air fryer, which uses either very little oil or none. This contributes to lowering the chance of fat-related health problems. The increase in awareness of health and wellness pushes the digital air fryer market.

Many dietary preferences can be satisfied with hot air frying appliances. They are a more sustainable and healthful solution because they use less oil than traditional frying. This gives consumers a healthier way to enjoy fried food because they won’t need to ingest a lot of oil.

The demand for air fryers in North America has grown due to the region’s population becoming more health-conscious and adopting healthier cooking techniques. The time-saving features and ease of adoption of air fryers have also drawn busy homes in North America. The popularity of cooking at home is growing, which has increased air fryer sales.

The air fryer industry is expanding quickly in the Asia Pacific. Increased desire for quick and easy cooking solutions results from urbanization and increased disposable incomes. As fried food is so popular in the area, people choose rapid hot air cookers instead of cooking with as much oil to save money on their favorite foods’ flavor and texture.

“Growing health consciousness and the need for convenient cooking are propelling the air fryer market, which is expected to develop steadily. Customer preferences for healthy lifestyles compel the upward trend of the sales of digital air fryers along with technological improvements.” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Takeaways:

The 1200 to 1500-watt segment in the wattage category to grab a share of 35.7% from 2024 to 2034.
In the device type category, the automatic segment acquired a market share of 96.4% between 2024 and 2034.
The United States air fryer sales are anticipated to surge at a CAGR of 4.3% by 2024.
Germany’s air fryer demand is anticipated to develop at a CAGR of 5.8% through 2024.
China’s sales of air fryers are expected to surge at a CAGR of 2.5% until 2034.
India’s air fryer industry is anticipated to boost at a CAGR of 6.8% by 2024.
The United Kingdom commercial air fryer market is likely to exhibit a CAGR of 8.3% by 2024.

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Competitive Landscape:

With numerous air fryer vendors, the global market is very competitive. Easy-to-use kitchen equipment is in high demand from consumers. Due to this, air fryer manufacturers are creating more feature-rich and efficient models while also meeting consumer demand. The air fryer providers also implement several growth methods to increase their market share locally and internationally, including joint ventures, product launches, and mergers and acquisitions.

Key Air Fryer Manufacturers:

Koninklijke Philips N.V.
Stanley Black and Decker, Inc.
Breville Group Limited
Groupe SEB
SharkNinja Operating LLC (CDH Private Equity)
Cuisinart Corporation (Conair Corporation)
Meyer Manufacturing Company Limited
GoWISE USA (Ming’s Mark Inc)
NuWave, LLC
De’ Longhi Appliances S.r.l

Noteworthy Developments:

In May 2023, Philips and Croma jointly introduced the Philips Airfryer HD9257/80, a transparent frying window air fryer.
INALSA introduced the Nutri Fry dual-zone air fryer in September 2022. Two baskets with a maximum XL capacity are included with the 2100-watt fryer.

Key Segments:

By Device Type:

Manual
Automatic

By Wattage:

Below 1200 Watt
1200 to 1500 Watt
1500 to 1800 Watt
1800 to 2200 Wattage
2200 Wattage and Above

By End Use:

Commercial
Residential

By Price Range:

Below US$ 25
US$ 25 to US$ 100
US$ 100 to US$ 200
US$ 200 to US$ 300
US$ 300 and Above

By Sales Channel:

Direct Sales
Supermarket/Hypermarket
Department Stores
Specialty Stores
Online Retailers
Other Sales Channel

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

About Future Market Insights (FMI)

Personalized Nutrition Propel Pet Dietary Supplement Market Growth to USD 8.3 Billion by 2033 | Future Market Insights, Inc.

The pet dietary supplement market is predicted to be valued at US$ 4,269.1 million in 2023 and US$ 8,288.4 million by 2033. Over the projection period, the pet dietary supplement market is expected to surge at a CAGR of 7.3%. Pet owners are increasingly seeking tailor-made dietary supplements for their furry companions. Companies utilize advanced technologies and data analytics to create personalized supplement plans catering to each pet’s needs and health conditions.

As the stigma surrounding CBD and hemp products diminishes, these natural alternatives are gaining traction in pet supplements. Pet owners are exploring the potential therapeutic benefits of these substances, leading to a surge in product offerings in this category. An emerging driver is the emphasis on eco-conscious choices in the packaging of pet dietary supplements. Consumers are looking for brands that prioritize sustainable materials and environmentally friendly practices, thus influencing their purchasing decisions.

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Companies are increasingly cutting out the intermediary and selling directly to consumers online. This trend simplifies accessibility and allows pet owners to interact directly with brands, fostering trust and loyalty. Veterinarians are playing a pivotal role in educating pet owners about dietary supplements. Their endorsements and recommendations carry significant weight, leading to increased awareness and sales of these products.

Key Takeaways from the Pet Dietary Supplement Market:

The pet dietary supplement market in the United States will likely hold a 24.9% market share in 2023.
The United Kingdom is poised for a 5.0% CAGR by 2033.
China is at the forefront, anticipating an 11.3% CAGR surge by 2033.
The glucosamine segment to hold a market share of 5.20% through 2023.
FMI predicts the joint health segment to hold a market share of 5.90% through 2023.

“The pet dietary supplement market is poised for exponential growth, driven by increasing pet owner awareness of holistic pet health and the demand for premium, natural products.” Says Nandini Roy Choudhury, Client Partner at Future Market Insights

How Key Players are Revolutionizing the Pet Dietary Supplement Market?

Key players drive a transformative revolution in the ever-evolving pet dietary supplement market. These industry leaders recognize the growing demand for pet health and wellness, resulting in a surge of innovation. They invest heavily in research and development, creating products tailored to the specific needs of dogs, cats, and other companion animals. They prioritize natural and organic ingredients, catering to health-conscious pet owners.

E-commerce platforms and personalized subscription services have also streamlined accessibility, making it easier for pet owners to find the right supplement. Combining science, consumer preferences, and accessibility, these key players are revolutionizing the pet dietary supplement market, promoting happier, healthier pets.

Product Portfolio

Nestle SA, a global leader in food and beverage, offers an extensive product portfolio catering to diverse tastes and nutritional needs. From beloved confectioneries to wholesome cereals and infant nutrition, Nestle continues to innovate, ensuring quality and sustainability in every bite.
Mars Incorporated tantalizes taste buds with a stellar product range, including iconic brands like Snickers, M&M’s, and Pedigree. Their commitment to quality and a wide range of treats for humans and pets alike ensures everyone finds a reason to smile.
NOW Foods is dedicated to holistic wellness, providing a comprehensive selection of supplements, essential oils, and natural products. Their products are crafted to support a healthier lifestyle, backed by quality and purity, offering vitality one bottle at a time.

More Insights Available

Future Market Insights offers an unbiased analysis of the pet dietary supplement market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the pet dietary supplement market, the report is segmented on the basis of Product Type (Glucosamine, Probiotics, Multivitamins, Omega-3 fatty acids and Others), Application (Joint Health, Digestive Health, Weight Management, Skin and Coat Health, Dental Care and Others), across 7 major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).

Scope of Report:

Attribute	Details
Estimated Market Size in 2023	US$ 4,269.1 million
Projected Market Valuation in 2033	US$ 8,288.4 million
Value-based CAGR 2023 to 2033	7.3	%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	Value in US$ million
Key Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia The Middle East & Africa
Key Market Segments Covered	Product Type Application Region
Key Countries Profiled	The United States Canada Brazil Mexico Germany The United Kingdom France Spain Italy Russia Poland Czech Republic	Romania India Bangladesh Australia New Zealand China Japan South Korea GCC countries South Africa Israel
Key Companies Profiled	Nestle SA Mars Incorporated NOW Foods Blue Buffalo Co. Ltd. Ark Naturals Virbac	Novotech Nutraceuticals, Inc. Zoetis PetAg, Inc. VetClassics GNC

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Pet Dietary Supplement Market Segmentation:

By Product Type:

Glucosamine
Probiotics
Multivitamins
Omega 3 fatty acids
Others

By Application:

Joint Health
Digestive Health
Weight Management
Skin and Coat Health
Dental Care
Others

By Region:

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

About Future Market Insights (FMI)

Rubber Track for Defense and Security Market to Cross USD 232.1 Million by 2033, with a CAGR of 8.94% | FMI Reports

In 2022, the global rubber tracks for defense and security market was valued at USD 125.9 million and is projected to reach USD 131.9 million in 2023. Future Market Insights (FMI) forecasts a growth trajectory with a CAGR of 8.94% from 2023 to 2033, estimating the market to reach approximately USD 232.1 million by 2033.

The increasing awareness of the benefits of rubber tracks, such as their durability, low noise levels, and high traction, is expected to drive demand among defense and security personnel. Additionally, the heightened focus on upgrading defense capabilities and the growing need for armored vehicles in response to terrorism and insurgencies are contributing to the market’s expansion.

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Government investments in defense and security are creating significant opportunities for rubber track manufacturers. As the demand for advanced defense equipment rises, the market for rubber tracks is set to experience substantial growth.

Key Takeaways from the Market Study

Rubber tracks for the defense and security market expanded at a CAGR of 7.12% between 2018 and 2022.
North America expanded at 41% of the market share in 2022.
The United States forecasted a 7.5% CAGR from 2023 to 2033.
Based on product type, rubber band tracks dominated 45% of the market share in 2022.
Under vehicle type, IFV/AIFV forecasted 52% of the market share in 2022.
Based on vehicle payload, 15 to 45 tons expanded 44.3% of the market share in 2022.

“Potential for rubber tracks for defense and security through an increase in military expenditure”, – commented a Future Market Insights analyst.

Market Competition

Companies aim to develop cutting-edge solutions during the entire life cycle of a product, from the design and inception phase to the end of its service life. They also strategically locate their main factories in emerging markets to make it ideal to service the developing markets. Some of the new developments of rubber tracks for the defense and security market are-

In 2022 December, GMT Rubber-Metal-Technic Ltd, an internationally recognized designer and supplier of rubber-metal anti-vibration mounted its shock-protection products for clients in the naval and marine industries.
A complete design service was provided using techniques that included computer modeling, multi-directional vibration analysis, and finite element analysis. These methods were used in the creation of individualized solutions for meeting an application’s highly specific needs.

Key Companies Profiled

Soucy Holding Inc.
GMT Rubber Metal Technic Ltd.
LS Mtron Ltd.
TGL SP Industries Ltd.
Cauchos Puntes S.L
William Cook Holding Limited
Northern Plains Track (Camso Group)
Martin’s Rubber Company Ltd.
Mackay Consolidated Rubber Technology
COECA SA
Ocean Rubber Factory LLC

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Rubber Track for Defense and Security Market Segmentation

By Product Type:

Rubber Band Track
Rubber Pin Track
Single Pin Tracks
Double Pin Tracks

By Vehicle Type:

Tanks
APC
IFV/ AIFV
Recons
Others

By Vehicle Payload:

8 to 12 Tons
12 to 14 Tons
15 45 Tons
Above 45 Tons

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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
LinkedIn| Twitter| Blogs | YouTube

Automotive Seat Heater Market to Surpass USD 5,790.8 Million by 2033, with a CAGR of 6.7% | FMI Reports

The global automotive seat heater market was valued at USD 2,871.1 million in 2022 and is projected to experience robust growth, with a CAGR of 6.7% over the forecast period. The market value is anticipated to increase from USD 3,030.0 million in 2023 to USD 5,790.8 million by 2033.

The expansion of the automotive seat heater market is driven by heightened competition in the automotive industry, easy vehicle financing options, and rising consumer incomes and affordability. The growth of the automotive sector also contributes significantly to market expansion.

Key factors fueling the demand for automotive seat heaters include the growing preference for energy-efficient and comfortable vehicles, the shift towards premium passenger cars, and the adoption of advanced technologies like carbon fiber. The benefits of seat heaters, such as immediate warming and relief from back discomfort, further support market growth. Additionally, the rise in aftermarket sales of seat heaters is contributing to the market’s expansion.

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Modern vehicles equipped with seat heaters allow drivers to independently adjust the temperature of the cushion and backrest. Although this technology is relatively new and may not be present in older vehicles, aftermarket modifications are possible through professional auto upgrade services and various seat heating kits.

Seat heaters function through electrical heating elements integrated into the seat cushion or backrest. These materials are designed to be electrically resistant and safe, converting electrical energy into thermal energy to provide comfort. The automotive seat heater market is expected to grow significantly during the forecast period, driven by technological advancements and features like adjustable heating levels and consistent warmth.

Key Takeaways from the Market Study-

The global demand for automotive seat heaters is expected to reach USD 5,790.8 million by 2033.
The market is expected to rise at a CAGR of 6.7% from 2023 to 2033.
The United States is projected to reach a market valuation of USD 1,154.4 million by 2033.
Based on region, China is expected to reach USD 288.9 million by 2033.
Based on application, the driving seat segment reached a valuation of USD 1,902.5 million in 2023.

“Due to increasing sales of electric vehicles, the automobile seat heater market is expected to experience high growth through the forecast period. Seat and steering wheel heaters are standard for most electric vehicles to heat a car area without warming the interior. Regarding additional amenities, it is among the best features electric cars (EVs) provide.” – says FMI Analyst.

Competitive Landscape

Continental AG, Panasonic Corporation, Gentherm Incorporated, and II-VI Incorporated are the leading manufacturers and suppliers of automotive seat heaters listed in the report. Prominent automobile seat heater manufacturers are allocating resources toward ongoing research to provide novel items and augment their manufacturing capabilities to satisfy consumer demand. To increase their presence, they also tend to implement growth strategies such as collaborations, acquisitions, mergers, and facility expansions.

Key Companies Profiled

Continental AG
Panasonic Corporation
Gentherm Incorporated
II-VI Incorporated
Seat Comfort Systems, Inc.
Roadwire LLC
Rostra Precision Controls Inc.
Firsten Automotive Electronics Co., Ltd.
Lear corporation
Guangzhou Tachibana Electronic Co., Ltd.

Recent Developments –

In July 2022, II-VI Incorporated acquired Coherent, forming a global leader in materials, networking, and lasers.
In August 2020, Lear and Gentherm introduced INTU™ Thermal Comfort Seating with ClimateSense™ Technology.

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Automotive Seat Heater Market Segmentation

By Product Type:

Carbon Fiber Seat Heater
Resistance Wire Seat Heater

By Vehicle Type:

Compact
Mid-size
Luxury
SUVs
Commercial Vehicle
Recreational Vehicle

By Application:

Driving Seat
Passenger seat

By Heat Setting:

Fixed Setting
Variable Setting

By Sales Channel:

OEM
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia Pacific
East Asia
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
LinkedIn| Twitter| Blogs | YouTube

E-commerce Expansion Fuels Tilapia Market Growth to USD 23 Billion by 2034, Enhancing Consumer Reach and Market Awareness

The tilapia market is anticipated to surpass US$ 14,460.02 million in 2024 and is likely to attain a valuation of US$ 23,015.4 million by 2034. The tilapia market size is projected to expand at a CAGR of 4.80% from 2024 to 2034.

The tilapia industry profits from retail’s digital revolution as e-commerce and online platforms rise. Businesses embracing these platforms reach a larger client audience while providing quick access to fish products. This digital transition increases market awareness, develops direct-to-consumer partnerships, and establishes tilapia as an easily available and favored alternative for customers looking for different fish selections in the online marketplace.

The market dominance of tilapia is enhanced by consumers’ growing attention to nutrition and health. Its high protein content, low-calorie profile, and omega-3 fatty acids suit changing dietary preferences. A growing number of health-conscious consumers are looking for lean protein sources, which is good for business. Positioned as a healthy and nutrient-dense alternative, tilapia cleverly fits in with the current wellness craze, making it a popular option for those looking to adopt a more health-conscious diet.

Companies in the tilapia industry are actively expanding the range of products they provide to meet changing customer demands. Apart from the conventional fresh fillets, the focus is on creating processed and value-added tilapia products. This calculated diversification creates new revenue sources in addition to taking advantage of changing culinary trends. Businesses that are flexible enough to launch a variety of tilapia products will be in a better position to gain and hold onto market share as customer demands for convenience and innovation continue to change.

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Key Takeaways from the Tilapia Market Growth

The global tilapia market size expanded at a 4.42% CAGR from 2019 to 2023.
The conventional source segment holds 53.4% of market shares in 2024.
The Nile Tilapia (OEROCHROMIS NILOTICUS) segment captured 75.3% of market shares in 2024.
The market size in the United States is projected to rise at a 10.91% CAGR through 2034.
The market size in Germany is anticipated to develop at an 8.9% CAGR through 2034.
The market size in Japan is estimated to surge at a 6.8% CAGR through 2034.
The market size in India is expected to increase at a 6.2% CAGR through 2034.

Competitive Landscape

The tilapia market is packed with rivals constantly engaging and competing for market share and advantageous placement. With the help of vertically integrated supply chains and economies of scale, global and regional aquaculture companies like Regal Springs, Blue Ridge Aquaculture, and Nireus Aquaculture dominate the market. These market leaders frequently set the standard for industry trends by ensuring constant product quality via the use of cutting-edge technology and environmentally friendly processes.

“Success in the ever-changing tilapia market depends on creativity, sustainability, and regulatory flexibility. Businesses need to adopt sustainable practices, create ground-breaking goods, and quickly adjust to regulation changes. Personalized methods and cooperative efforts are essential to prosper in this changing environment and satisfy a wide range of customer preferences.” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Recent Developments

In February 2024, GenoMar introduced a premium tilapia line in Brazil. The GenoMar Genetics group provides tilapia genetics through AquaAmerica, Aquabel, and Genomar. The range was previously accessible in Asia but may now be supplied in Brazil due to the establishment of an innovative breeding facility in Tocantins.
In June 2023, a new tilapia strain was developed in Kenya. Tilapia F8, produced by the Kenya Marine and Fisheries Research Institute (KMFRI) and the Kenya Agriculture Livestock Institute (Kalro), grows rapidly, matures swiftly, and is resistant to fungal and viral infections.

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Tilapia Market Segmentation

By Source:

Organic
Conventional

By Species:

Nile Tilapia (OREOCHROMIS NILOTICUS)
Blue Tilapia (OREOCHROMIS AUREUS)
Mozambique Tilapia (OREOCHROMIS MOSSAMBICUS)
Wami Tilapia (OREOCHROMIS UROLEPIS HORNORIUM)

By Form:

Fresh
- Whole
- Fillet
Processed
- Canned
- Frozen
- Whole

By Sales Channel:

Direct Sales
Retail Sales
- Modern Trade
- Convenience Stores
- Specialty Food Stores
- Wholesale Stores
- Discount Stores
- Online Retail
- Others

By Application:

Food Industry
Pharmaceutical Industry
Animal Feed
Pet Food
Food Service
Retail

By Region:

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

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Automotive Windshield Washer System Market to Surge to USD 34.2 Billion by 2033, with a CAGR of 5.0% | FMI Reports

By 2033, the Automotive Windshield Washer System Market is projected to experience substantial growth, with an anticipated CAGR of 5.0%. The market value is expected to rise from USD 21 billion in 2023 to USD 34.2 billion by 2033, according to Future Market Insights (FMI).

Automotive windshield washer systems use a control switch to spray washer fluid onto the windshield, typically utilizing an electrical pump and jets mounted beneath the wiper blades. These systems can automatically activate the wipers to clear debris and dirt from the windshield.

In colder climates, washer fluid can be pre-heated before being applied to the windshield to prevent ice and frost build-up, eliminating the need for manual scraping or pouring warm water. While such pre-heating devices are often available as aftermarket additions, some automobile manufacturers include this feature as a standard option.

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The integration of Internet of Things (IoT) technology into automotive systems is enhancing windshield washer systems, enabling features like rain-sensing wipers that synchronize with weather forecasts. Mid-sized cars are increasingly adopting these advanced systems. For instance, Volkswagen’s compact sedan, the Ameo, includes rain-sensing wipers, and the Chevrolet Impala from General Motors features additional conveniences such as rear audio controls, folding side mirrors, and rain-sensing wipers.

Market participants are expanding their manufacturing capabilities in emerging economies. Audi AG, for example, has begun producing the Audi Q5 in San Jose Chiapa, Mexico, while BMW AG and Ford Motor Company are also establishing new plants in Mexico and the U.S. Future Market Insights’ latest study, titled ‘Automotive Windshield Washer System Market,’ provides in-depth analysis and future projections, utilizing a bottom-up approach for accurate market insights.

Key Takeaways from Automotive Windshield Washer System market

Europe holds the largest market share with Germany leading from the front. This could be credited to car owners likely to stock the products for keeping windshields crystal clean at the time of long rides. The frequency of travel has increased for both – work and leisure. On these grounds, collaborating with tech companies is on the anvil. The UK and France stand second.
North America holds a significant market share. This could be credited to growing production as well as sales of vehicles along with growing vehicle parc.
As far as the Asia-Pacific is concerned, Japan dominates the market. This could be reasoned with increasing number of automobile manufacturers all across the country.

“Automotive windshield washer system is dependable, inexpensive, long-lasting, and above all – easy to install and assemble. These factors are expected to keep the cash registers ringing for automotive windshield washer system market in the forecast period”, – says an analyst from Future Market Insights.

Competitive Analysis

Lincoln Aviator, in December 2019, did launch heated wiper blades for keeping windshields off snow and ice.
Mitsuba is continuously evolving with centralized control over mechanisms and motors. They do have a global network as a part of manufacturing and development system. They, as such, would be continuing to provide a plethora of lightweight, compact, power-efficient, and quiet products for electrification of vehicles.
DENSO Corporation announced that its two subsidiaries, namely Asahi Manufacturing Co., Ltd. would merge with Nippon Wiper Blade Co., Ltd. in October 2019 for starting DENSO Wiper Systems, Inc.

Key players are:

HELLA GmbH & Co. KGaA, Continental Aktiengesellschaft, Mitsuba Corporation, DENSO Corporation, Trico Products Corporation, Kautex Textron GmbH & Co. KG., ASMO CO., LTD., Mergon Group, Doga S.A., Exo-s, Inc.,

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Key Segmentations

By Capacity:

1.5- 2 liter
2- 3 liter
3- 4 liter
4- 5 liter
Above 5 liter

By Sales Channel:

Original Equipment Manufacturer
Aftermarket

By Technology:

Electrical
Mechanical

By Vehicle Type:

Passenger Cars
LCV
HCV

By Region:

North America
Latin America
Europe
Japan
Asia Pacific Excluding Japan
Middle East and Africa

About Future Market Insights (FMI)

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

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Automotive Battery Management System Market to be Worth USD 37.4 Billion by 2033, with a CAGR of 25.6% | FMI Reports

According to ESOMAR-certified Future Market Insights (FMI), the Automotive Battery Management System Market is set to experience substantial growth, with a projected CAGR of 25.6%. The market value is expected to increase from USD 3.8 billion in 2023 to USD 37.4 billion by 2033.

As electric vehicles (EVs) become increasingly prominent in the clean vehicle sector, the demand for advanced battery management systems is expected to surge. This trend is driven by the rising adoption of battery management systems in electric cars and e-bikes.

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Battery management systems are essential for managing lithium-ion batteries, which offer higher energy densities and longer lifespans compared to traditional batteries. These systems are crucial for electric vehicles, hybrid electric vehicles (HEVs), and electric motorcycles. The ongoing expansion of the electric vehicle market is anticipated to provide significant opportunities for manufacturers of automotive battery management systems throughout the forecast period.

Key Takeaways of Automotive Battery Management System Market Study

Consumer demand across the globe is beginning to bend in favor of electric vehicles, and has strong disruption potential with governments providing purchasing incentives and subsidiaries.
With the dawn of electro-mobility and the resulting increase in EV production, automakers are offering tailored electric vehicles with modification in battery management systems.
APEJ is anticipated to remain the fastest-growing region in the automotive battery management system market during the forecast years, owing to several countries encouraging the usage of EVs. China leads the global fleet of electric vehicles.
Hybrid electric vehicles hold more than two-third of the global EV fleet. Increasing sales of HEVs are foreseen to fuel the demand for battery management systems in the future.
Electric vehicle fleet is significantly low as compared to ICE vehicles. As a result, the OEM sales channel is projected to retain its prominence throughout the forecast period.
Although centralized BMS account for a lion’s share in the global market, modular BMS are expected to witness high growth due to its superior functional benefits over its counterparts.

“In the foreseeable future, advancements in battery management systems will contribute towards extending vehicle range, while simultaneously improving battery life and safety. All major OEMs are ambitiously planning to boost electric vehicle production, which is projected to create significant opportunities for the global automotive battery management system market.” – says FMI Analyst.

Automotive Battery Management System Market: Competition Overview

The global automotive battery management system market is moderately consolidated, with a number of global as well as regional players operating in it.

Key Players Operating in Automotive Battery Management System Market Include:

Continental Ag, Dana Limited, Gentherm, Hanon Systems, Mahle Gmbh, Nxp Semiconductors, Renesas Electronics Corporation, Robert Bosch Gmbh, Valeo, Marelli Holdings Co., Ltd.

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Key Segments Covered in the Automotive Battery Management System Market Report

By Vehicle Type:

Electric Vehicle
Golf Karts
Electric Bikes

By Connection Topology:

Centralized
Distributed
Modular

By Sales Channel:

Original Equipment Manufacturer (OEM)
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Japan
Middle East & Africa (MEA)

About Future Market Insights (FMI)

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

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Consumer Shift Towards Vegan and Organic Beverages Fuels Plant-Based Milk Market Growth to USD 47.9 Billion by 2034 | Future Market Insights, Inc.

The global plant based milk market size has the potential to attain US$ 20.1 billion in 2024. The global sales of plant based milk accounted for US$ 16.1 billion in 2019 and is slated to acquire a valuation of US$ 47.9 billion by 2034. This escalation exhibits a surge at a CAGR of 9.1% from 2024 to 2034.

Transition in Consumer Choices with Boom in Plant Based Milk Adoption

Consumers are consuming plant-based milk more than in the early years, owing to the escalating prevalence of these products. The rise of organic beverages is amplifying as consumers look for the right blend of taste and nourishment.

Customers with lactose intolerance disorder transition towards vegan milk because of their dairy-free characteristics, escalating the plant based milk market growth. The ready-to-drink drinks contain low to negligible cholesterol and since they are low in fat, supporting consumers with weight loss and management. Vegan beverages are high in protein, minerals, and vitamins, catapulting them as a prevalent choice.

Regional Outlook

Asia Pacific prevails in the plant based milk market. Ascending disposable incomes and broadening populations in developing economies like India, China, and Japan augment the plant based milk demand in the Asia Pacific.

The demand for non-dairy milk for example almond milk, soy milk, rice milk, and other dairy substitutes in Asia Pacific surges because of the escalation in people with lactose intolerance and soaring health issues linked with toxic chemicals put in milk products. North America is a significant region for lactose-free products owing to the mass consumption of vegan items.

“The plant based milk industry amplifies with escalating consumer needs for dairy substitutes. Health awareness, environmental challenges, and food habits boost growth of the plant based milk market. Spurring advancements and product portfolios are fundamental procedures for plant based milk vendors to seize the industry share.”, remarks an FMI analyst.

Key Takeaways

The soy milk segment in the product type category to grab a share of 34% in 2024.
In the form category, the powder segment to acquire a share of 19% in 2024.
Germany vegan milk market indicates a CAGR of 11.5% through 2034.
The United Kingdom plant based milk industry reflects expansion between 2024 and 2034 at a CAGR of 10.4%.
Through 2034, China plant based drinks market show escalation at a CAGR of 5.9%.
Between 2024 and 2034, the United States plant based milk industry imply growth at a CAGR of 8.5%.
From 2024 to 2034, India plant based milk market equates at a CAGR of 9.8%.

Competitive Landscape

Prominent plant based milk providers grab capital and amplify their research and development funding for better devices to accelerate their growth opportunities. The plant based milk vendors emphasize broadening their sales and yield profits by rolling out new products globally to fulfill the elevating demand.

Noteworthy Breakthroughs

Reitan and Oatly Inc. declared the evolution of their relationship in January 2023. Reitan possesses and manages around 300 Pressbyrn and 90 7-Eleven convenience shops across Sweden. This partnership aided Reitan to expand its business and grab the attention of novel consumers.
In November 2022, The Planting Hope Company, which is a start-up launched in 2020 that makes and debuts revolutionary organic beverages, declared the introduction of Hope and Sesame’s Sesame Milk for consumers in Canada. The product was available in many foodstuffs stores and on the Amazon website in Canada.

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Key Segments

By Product Type:

The report consists of key product type like, soy milk, almond milk, coconut milk, cashew milk, hemp seed milk, rice milk, oat milk, peanut milk, pea milk, hazelnut milk, macadamia milk, and other product types (spelt milk, banana).

By Form:

Key forms present in the industry include liquid and powder.

By Category:

The market is classified into organic and conventional.

By Flavor:

The report consists of key product type like original/unflavored and flavored (chocolate, vanilla, strawberry, coconut, mocha, berry, hazelnut, and other flavors).

By End Use:

Key forms present in the industry include infant formula, dairy products (milk, cheese, yogurt, butter, spreads, ice cream, frozen dessert), bakery and confectionary, milk and milk-based beverages, and retail sales.

By Sales Channel:

The market is classified into direct sales, indirect sales (modern trade, convenience store, departmental store, traditional store, specialty store, online retailers), and other sales channel.

By Region:

Analysis of the market has been carried out in key countries of North America, Latin America, East Asia, South Asia and Pacific, Western Europe, Eastern Europe, and the Middle East and Africa.

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