Organic Feed Market Projected to Surpass US$ 14.3 Billion by 2032

In 2022, the worldwide organic feed market is anticipated to be worth US$7.2 billion. Demand is expected to grow at a 7.7% CAGR throughout the projected period, reaching a worth of US$ 14.3 billion by 2032. In 2022, the organic feed market is estimated to account for 10% of the global animal feed market.

In order to fulfill rising demand for organic food products key players are focusing on organic livestock farming and adopting farming practices to eradicate health concerns. These factors are expected to propel the demand for organic feed. Consumers are well aware about the downside of consuming non-organic meat and are willing to spend on healthy alternatives in order to maintain good health.

Organic feed variants are well developed in North America and Europe due to development in technologies and consumer willingness to spend on organic feed. Asia Pacific is expected to open doors to many opportunities due to abundance of cereals and grains that can form major source of organic feed.

“Increasing demand for organic animal-derived ingredients in functional food products, along with growing preference for sustainably manufactured animal feed to preserve animal health will augment the growth in the market over the assessment period,” says an FMI analyst.

Key Takeaways:

  • Sales of organic feed are expected to increase at 6.6% and 6.3% in North America and the Latin America, respectively, through 2032.
  • Asia Pacific is expected to account for 17% market share during the assessment period.
  • The Europe organic feed market is expected to reach US$ 1.5 Bn.
  • By livestock, demand in the poultry segment will increase at a CAGR of 6.8% through 2032.
  • Based on ingredient type, sales of cereals and grains will continue gaining traction over the forecast period.

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Competitive Landscape

Key organic feed manufacturers are focusing on research & development to offer different products with no chemical additives. Key players are collaborating and developing new product lines to penetrate untapped markets. For instance:

  • New Barn Organics partnered with NestFresh Eggs on its first egg products, the collaboration makes sure that the brand’s deep dedication to superior organic products remains the utmost priority of the brand.

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global organic feed market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on Organic Feed by Ingredient Type (Cereals and Grains, Oil Seeds, Others (Pulses), By Livestock (Poultry, Pigs, Aquatics Animals, and Pets), By Form (Pellets, Crumbles, Mash), By Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).

For additional insights on how growth of the moringa ingredient market will shape up over the next decade, write to media@futuremarketinsights.com

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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 fulfil the unique business intelligence needs of clients worldwide. With a catalogue of more than 500 reports about the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Global Herbal Medicinal Products Industry Sales Forecasted to Surpass US$ 417.99 Billion by 2033 with a Notable 7.7% CAGR | FMI

In a recent ground-breaking study conducted by Future Market Insights (FMI), the Herbal Medicinal Products Industry is on the cusp of remarkable growth, projected to attain a valuation of US$ 199.07 billion by the year 2023. Even more astonishing, global herbal medicine sales are expected to surge to an impressive US$ 417.99 billion by 2033, showcasing a robust compound annual growth rate (CAGR) of 7.7%.

The study reveals a significant shift towards herbal and alternative medicine, with growing global awareness of the holistic benefits they offer. As a result, governments worldwide are making concerted efforts to promote the use of herbal medicine, particularly in the Western world, which has contributed to this meteoric rise in demand.

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According to a recent Future Industry Insights report, certain qualities have been critical in driving growth in the herbal medicinal product market. Sales of these items are expected to hit US$ 171.62 billion in 2021, with a compound annual growth rate of 7.7% forecast from 2021 to 2031.

Growing worries about the side effects of allopathic drugs have resulted in a steady shift in preference for traditional herbal treatments. These treatments are frequently used to cure a variety of maladies, including as neurological diseases, coughs, colds, and flu, sexual troubles, feminine concerns, and metabolic diseases. Herbal medicine is valued for its potential to enhance health and systemic balance without drowsiness or negative side effects.

In 2015, Brazil’s La Politica Integral de Atención Integral a la Salud Indigena de FUNASA supported indigenous communities’ traditional health systems, while the government recognized homeopathic medicines as a medical specialty and incorporated them in the National Health System. Brazil today has approximately 12,000 homeopathic doctors and 300 homeopathic chemists.

According to the World Health Organisation (WHO), herbal medicines are used by approximately 60% of the world’s population for primary healthcare, with this figure rising to up to 80% in underdeveloped countries. Around 75% of these sales are done through direct user-pharmacy contacts. The growth of online pharmacies and mail-order shopping has boosted demand for self-medication even further.

The global geriatric population is growing rapidly due to higher life expectancy rates. The World Bank reports that in 1990, the average mortality rate among the elderly worldwide was around 6%, rising to 9.5% in 2020. Chronic diseases associated with aging populations highlight the need for effective medications.

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Key Takeaways from Herbal Medicinal Products Study:

  • Demand for Chinese medications is expected to grow at an 8.2% CAGR through 2031, owing to investments in the promotion of traditional Chinese medicine.
  • By 2031, retail pharmacies will account for more than 23% of the global market. This is owing to the ease of access to consumer health products.
  • The most profitable market for herbal medicinal goods is Europe, with Germany accounting for around 18% of the regional market in 2031.
  • China is the East Asian market leader, accounting for more than 49% of the market in 2031.
  • In 2031, South Asia will be the third most profitable market, with India accounting for more than 74% of the market.

Competitive Landscape

Herbal medicine manufacturers are primarily interested in strategic expansions and patent filings in order to consolidate growth in a competitive industry.

For example, Arkopharma SA filed a patent in October 2020 for the Arkodigest® No Reflux 100% natural composition to enhance digestion.

Mountain Rose Herbs plans to turn the Phoenix Industrial Park in Eugene, which has 205,000 square feet of operational space and a 12-acre campus, into green space in November 2020 as part of its corporate expansion strategy.

The key market players covered by FMI include:

  • Blackmores Limited,
  • Sanofi-Aventis Healthcare PTY Ltd.,
  • Arkopharma SA,
  • Nutraceutical Corporation,
  • STADA Arzneimittel AG,
  • Himalaya Global Holdings Ltd,
  • Integria Healthcare,
  • Boiron Group,
  • Young Living Essential Oils,
  • Mountain Rose Herbs

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Herbal Medicinal Products Market by Category

Product Type:

  • Ayurvedic
  • Homeopathic Medicines
  • Chinese Medicines
  • Aromatherapy product

Form:

  • Capsules/Tablets
  • Powder
  • Syrups
  • Oil and ointment
  • Others

Distribution Channel:

  • Hospital pharmacies
  • Retail pharmacies
  • Mail order pharmacies
  • E commerce

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani

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
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Biopharmaceutical Contract Manufacturing Industry’s 10.5% CAGR Towards US$18.7 Billion in 2029 | FMI

The Global Biopharmaceutical Contract Manufacturing Industry, valued at approximately US$ 9.3 billion in 2022, is set to experience robust growth at a Compound Annual Growth Rate (CAGR) of 10.5%. It is expected to reach a staggering US$ 18.7 billion by 2029. This meteoric rise reflects the growing trend among pharmaceutical companies to outsource their biopharmaceutical manufacturing operations.

The biopharmaceutical contract manufacturing sector offers a myriad of advantages, including access to cutting-edge technologies, expedited time-to-market for new pharmaceuticals, and enhanced flexibility. These compelling benefits have prompted several multinational corporations to leverage the expertise of contract manufacturing firms.

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Regional Insights:

The U.S. dominates the North American region with a total market share of 91.0% in 2021 and is projected to continue experiencing high growth throughout the forecast period.

Germany is set to exhibit a CAGR of over 11.5% in the European Biopharmaceutical Contract Manufacturing Industry during the forecast period. In this region, the next generation therapy market is believed to be driven by biological treatment options compared to the pharmaceutical option.

China holds 34.8% share in the East Asia market in 2021 and is projected to increase at a CAGR rate of 13.5% during the forecast period. The growth of the Biopharmaceutical Contract Manufacturing Industry in the country is growing because, most of the pharma and biopharma companies are focusing to capitalize on the growth.

Asia Pacific is gaining attention among manufacturers for biologics production at reduced manufacturing cost. Emerging regions offering greater profit margins are major focus points for biopharmaceutical contract manufacturing, globally.”

Key Takeaways of Biopharmaceutical Contract Manufacturing Industry Study

  • Although microbial-based platforms are abundantly used for the production of pharmaceuticals, mammalian-based cell culture is expected to gain traction during the forecast period, owing to higher efficiency and increasing demand.
  • In terms of product type, monoclonal antibodies currently hold a larger share of the biopharmaceutical contract manufacturing market, due to their superior efficacy as well as increasing adoption for the treatment of chronic diseases.
  • North America is anticipated to be the most lucrative region in the global Biopharmaceutical Contract Manufacturing Industry, offering growth opportunities to market players.
  • The commercial application of biopharmaceutical contract manufacturing is expected to contribute a higher share as compared to clinical application by the end of 2029.

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Key Market Players:

  • Catalent Inc.
  • Lonza Group Ag
  • Patheon N.V. (Thermo Fisher Scientific Inc.)
  • Abzena Plc.
  • Sandoz International GmbH (Novartis AG)
  • Fujifilm Diosynth Biotechnologies (FUJIFILM Holdings)
  • Baxter Pharmaceutical Solutions LLC (Baxter Inc.)
  • AbbVie Contract Manufacturing (AbbVie Inc.)
  • Samsung Biologics Co. Ltd.
  • ProBioGen AG
  • Pfizer Centre Source Ltd (Pfizer Inc.)
  • Novasep
  • Biomeva GmbH
  • Kbi Biopharma Inc
  • Rentschler Biotechnologie GmbH
  • Ajinomoto Althea Inc. (Ajinomoto Co., Inc.)

Key Market Segments Covered in Biopharmaceutical Contract Manufacturing Industry Research:

By Platform Type:

  • Mammalian Based
  • Microbial Based

By Product Type:

  • Monoclonal Antibodies
  • Recombinant Protein
  • Vaccine
  • Insulin
  • Growth factor
  • Interferons
  • Others

By Application Type:

  • Clinical
  • Commercial

By Therapeutic Area Type:

  • Autoimmune Diseases
  • Oncology
  • Metabolic Diseases
  • Ophthalmology
  • Cardiovascular Diseases
  • Infectious Diseases
  • Neurology
  • Respiratory Disorders
  • Others

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Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani

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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Hot Sauce Powder Market Anticipated to Reach US$ 7.5 Billion by 2032 with a CAGR of 6.5%

Hot sauce powder is an orange/red powder that is prepared using aged red peppers. The peppers used provide a rich, favorable, and red hot sauce powder. The hot sauce powder can be used in sauces, glazes, dry mixes, topical applications, coatings, seasoning blends, etc.

The Hot Sauce Powder Market is expanding rapidly as spicy flavours continue to enchant customers around the world. The desire for convenient and flexible spice options has increased, resulting in increased usage of hot sauce powder. With several applications in the culinary and food processing industries, the industry is poised for further growth and product innovation.

This might draw food producers, household consumers, etc. because hot sauce powder has so many uses in the food industry. The fact that the spicy sauce powder is organic further enables food producers to incorporate it in their sauces, dips, and other food products, expanding the market by luring consumers who care about their health.

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Increasing Hot Sauce Powder Demand in the Food Industry

Consumers are more focused on consuming healthy organic food products that do not contain any artificial additives. This growing trend for organic and non-GMO food products might boost the hot sauce powder market, as it is an organic, non-GMO food additive, and has a wide range of application in soups, gravies, dips, etc.

Therefore, the hot sauce powder market might attract food manufacturers, restaurants, fast-food retail chains, etc. There are some companies such as AmTech Ingredients that make use of cayenne pepper for the production of hot sauce powder, which is rich in vitamin A, B-complex, and C. It also contains essential minerals such as iron, magnesium, etc., and has antioxidant properties.

Other factors such as busy lifestyles and increase in disposable income have increased the demand for convenience food products all around the world. Ready-to-go meals and frozen food products need ingredients that have a high shelf life so as to avoid the risk of spoilage and to preserve the flavor, because of which, hot sauce powder might be used as it has a long shelf-life and a rich consistent flavor.

This will enable the hot sauce powder market to increase at a faster rate.

The main advantage of hot sauce powder is that, it is present in the dehydrated form, which increases its shelf life. This reduces the problems of storage and refrigeration. The risk of contamination might also be less, which makes it economically feasible for manufacturers to produce hot sauce powder.

During the last few years, the production of pepper has always been more than that of the consumption all across the globe, which can help industries produce hot sauce powder at a feasible cost. But the major restraints are climate change, disease outbreaks, etc., which might increase the cost of pepper, and can further affect the production of hot sauce powder and its market price, thus affecting its demand.

Hot Sauce Powder Market: Participants

Some of the market players in the global hot sauce powder market are

  • High-Quality Organics
  • Firehouse Flavors
  • AmTech Ingredients
  • Ohly etc

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Hot Sauce Powder Market: Key Developments

Ohly launched a non-GMO cayenne pepper sauce powder, ProDry, in January 2017. The company’s main focus was providing consumers with a non-genetically modified food product that is easy to handle and provides consistency during food preparation.

Major market players are also focusing on using pepper that has been grown under sustainable conditions, because of which, health-conscious consumers might get attracted to organic hot sauce powder, which will further increase its demand in the market.

Key Data Points Covered in the Report

Some of the key data points covered in our report include:

  • An overview of the market, including the background and evolution of Hot Sauce powder
  • Macroeconomic factors affecting the market and potential of Hot Sauce powder
  • Market dynamics, such as drivers, challenges and trends
  • Detailed value chain analysis of the market
  • The cost structure of the products and segments covered in the study
  • In-depth pricing analysis, by key product segments, regions and by major market participants
  • Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario
  • Analysis of the market structure, including a tier-wise categorization of key market participants
  • Competitive landscape of the market, including detailed profiles of the top players in this market

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Hot Sauce Powder Market: Segmentation

The hot sauce powder market can be segmented on the basis of application by:

  • Sauces, Dips, Soups, etc.
  • Convenience Food Products
  • Others (Bakery Products, Dietary Supplements, etc.)

The hot sauce powder market can be segmented on the basis of nature by:

  • Organic
  • Conventional

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

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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Soy-based Food Market Projected to Attain US$ 27.1 Billion by 2032

The global soy-based food market is set to witness growth at a CAGR of 5.8% over the forecast period (2022-2032) and top a valuation of USD 27.1 Bn by 2032.

Nutritious value and versatility of ingestible forms act as growth levers for the global soy-based food market. As consumers move towards health-conscious diets, soy food products present an ideal alternative for dairy, meat, and poultry intensive diets.

Prevalence of heart diseases is creating a lateral shift in consumer preference for cooking oil. Heart diseases are a leading cause of mortality in the US, causing about 650, 000 deaths every year. Health-conscious consumers are looking for low bad-cholesterol heart-friendly alternatives to conventional cooking oil. This has changed the soy-based food market outlook very positively.

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Although presence of alternatives such as olive oil is hindering the soy-based food market growth, the manufacturers are expanding their production capacities to distribute their products at competitive pricing.

According to the World Soy Oil Processors Association (SOPA), the global soy oil production in 2019-2020 was more than 56 million metric tons. Soy-oil is a healthier alternative; and the soy-based food market analysis indicates that the successful marketing campaigns are viewing millennials and geriatrics as their target consumer base.

While consumers have been increasingly shifting towards health-centric products, the COVID-19 pandemic has provided further impetus to the soy-based food market trend. Amid nationwide lockdowns in several countries, many leading meat plants have been shut down in order to avoid further contagion of coronavirus. This potential of scarcity of meat supply is influencing consumers to turn to plant-based meat products, with meat alternatives such as tofu witnessing phenomenal sales in developed regions. Such trends have worked in favour of soy food products market and changed the global outlook drastically.

Key Takeaways from Market Study

  • East Asia is expected to dominate the soy-based food market by accounting for the maximum market value share of about 25% by 2022 end.
  • Rising demand for meat substitutes is expected to result in a subsequent increase in the demand for soy-based food in different regions across the globe which is predicted to rise considerably during the assessment period (2022-2032)
  • By product type, tofu is expected to account for a considerable market value share of the global market by 2022 end
  • Presence of soy-based food products as ingredients in non-vegetarian dishes makes them easy to digest and enhances their flavor which is predicted to influence the demand for soy-based meat products in the near future
  • Indirect channel is expected to account for a highest soy-based food market share by 2032 end.

 “Vegetarians who can’t consume meat products are looking for an alternative that provides the same amount of nutritional value owing to which the demand for soy-based food is expected to show an impressive increase in the coming decade”says a Future Market Insights analyst.

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More Insights into the Soy-Based Food Market Report

In its latest report, FMI offers an unbiased analysis of the global soy-based food market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on type (meat substitutes (textured vegetable protein, tofu, tempeh), non-dairy yogurt, non-dairy spread, non-dairy ice cream, non-dairy cheese), application (meat products, dairy products, bakery and confectionery, functional food, instant food), distribution channel (direct, indirect (hypermarkets/ supermarkets, convenience store, independent retailers, online retailers)) and region.

As per FMI reports, North America will retain its lead in the demand for soy-based food products. Rising consumer demand for soy oil and soy-based products boost the sales of soy-based food in the market of the region.

China and East Asia present massive growth potential for soy-based food market. China accounts for around 37% of total soy-based food market share. Japan and Korea, too, dominate the Asia Pacific soy-based food market.

In terms of product type, meat substitutes seem to monopolize the market. High nutritional value, flavor and texture, and easy digestion of soy items push the demand for soy-based meat products.

Indirect sales channels like supermarkets and convenience stores will lead the market. Soy-based meat products, soy-based baked goodies, soy-based exercise supplements are easy to access via indirect distribution channels. With the rise in demand for these products, the indirect sales channels also gain traction in the market.

Recent Developments:

Atlante introduced its vegan yoghurt in the Netherlands in June 2021. The item is currently available in Superunie stores under the Own Label Melkan brand.

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Global Soy-based Food by Category

By Product Type, Global Soy-based Food is segmented as:

  • Meat Substitutes
    • Textured Vegetable Protein
    • Tofu
    • Tempeh
  • Non- dairy Yogurt
  • Non-dairy Spread
  • Non- dairy Ice Cream
  • Non- dairy Cheese

By Application, Global Soy-based Food is segmented as:

  • Meat Products
  • Dairy Products
  • Bakery and Confectionery
  • Functional Food
  • Instant Food

By Distribution Channel, Global Soy-based Food is segmented as:

  • Direct
  • Indirect
    • Hypermarkets/Supermarkets
    • Convenience Store
    • Specialty Stores
    • Independent Retailers
    • Online Retailers

By Region, Global Soy-based Food is segmented as:

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

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

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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Small Molecule API Industry Predicted to Grow at 5% CAGR, Reaching US$ 216.97 Billion by 2032 | Says FMI

The Small Molecule API Industry is poised for impressive growth in the coming decade, with a projected Compound Annual Growth Rate (CAGR) of 5% between 2022 and 2032. According to the latest industry report, the market is expected to reach an estimated US$ 216.97 billion by the end of the forecast period.

In a pharmaceutical landscape marked by innovation and dynamic shifts, the report highlights a significant trend toward outsourcing in the industry. While in-house manufacturing currently dominates the market, the allure of outsourced production is rapidly gaining momentum. This trend is expected to see the outsourcing segment capturing a substantial 50% share of the small-molecule API production during the forecast period.

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The oncology market is growing enormously. High-potency drugs constitute significant new drugs that are under development. Small molecule demand still dominates the API market, however, new biological entity demand is also growing rapidly healthcare expenditure is resulting in new molecule discovery, the evaluation of various molecules for possible disease treatment, and the adoption of an innovative approach to these studies.

As increasing prevalence of chronic disorders like cardiovascular diseases, diabetes, cancer, and infectious diseases, and increasing research on small molecule APIs will boost the market growth. Besides this, government funding for API manufacturing units is also increasing in developing countries like India, Israel, and China. In May 2020, AstraZeneca recovered the global rights to brazikumab from Allergan. Small molecule monoclonal antibody is developed for Crohn’s Disease and Ulcerative Colitis and adds to their growing presence in Immunology

The coronavirus pandemic has changed public medical care needs and spending however this is viewed as a transient effect on the Small Molecule API Industry. The immense COVID-19 patient pool attracted the spotlight on the treatment of these patients, in turn increasing the demand for small molecule API.

Key Takeaways from Small Molecule API Industry Study

  • As a result of increasing healthcare spending and favorable reimbursement policies, the U.S. accounts for over 87% of the North American Small Molecule API Industry
  • A rising focus on health and wellness will enable the U.K. to exhibit a little below 4% y-o-y growth in 2021
  • Germany will account for the maximum sales in Europe. Besides this, the demand from France is expected to rise
  • Increasing investment in research and development within pharmaceuticals will drive sales in China

 “The market is highly competitive, compelling the key players to aim at strategic partnerships. Some of the leading players have been focusing on strategic collaborations to expand their footprint and portfolio” says the FMI Analyst

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The use of external resources (people, equipment, and/or expertise) to facilitate the preparation of Active Pharmaceutical Ingredients (API) or advanced intermediates has become a common practice for most pharmaceutical development organizations. In early development, the reasons to seek external support for the manufacture of API were attributed to a number of factors, including a lack of sufficient internal capacity, a need to source unique technical expertise, or a desire to achieve overall cost reductions.

For organizations that have no internal GMP manufacturing capabilities whatsoever (e.g. biotech companies), outsourcing is, of course, a necessity. However, companies that have some level of internal manufacturing capacity may have options to use outsourcing to their strategic advantage. This outsourcing capability has increased the source of generating more revenue for new emerging companies. For the fast growth of the industry, they follow outsourcing strategies.

In addition, key players in the Small Molecule API Industry are keenly focusing on carrying out strategic activities such as advanced technology for manufacturing, and acquisitions, in order to create a strong position in the market is leading to vigorous developments which is helping the market to grow at a considerable rate.

For Instance, In January 2020, Novartis acquired of operations of Aspen in Japan. This acquisition strengthened Sandoz’s position in the world market of off-patent medicines and generic drugs manufacturing.

Key Participant Insights

Various manufacturers are undergoing partnerships, collaborations, acquisitions, and distribution agreements to improve their market footprint.

For Instance, in December 2020, Pfizer Inc. and PostEra announced a strategic partnership with the goal of accelerating small molecule drug discovery by developing a platform technology based on generative chemistry.

Also, in January 2020, Merck announced its strategic collaboration for an oncology platform with Taiho Pharmaceutical Co, Ltd. And Taiho Pharmaceutical Co., Ltd to expand its focus on small molecule inhibitors for cancer research.

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Key players in the Small Molecule API Industry are focusing on developing novel drugs due to their demand across various therapeutic areas. Some of the key players are

Hoffmann-La Roche Ltd, Albany Molecular Research Inc., AstraZeneca, Merck & Co., Inc., BASF SE, Teva Pharmaceutical Industries Ltd., Sanofi S.A., Pfizer Inc., Nanjing King-Friend Biochemical Pharmaceutical Co., Ltd., Novartis AG, Bristol-Myers Squibb, Boehringer Ingelheim GmbH, GlaxoSmithKline PLC, GILEAD Science Inc.,

Small Molecule API Industry by Category Molecule Type

  • Standard API
  • HPAPI

Production

  • Captive/In-House
  • Out Source

Application

  • Clinical
  • Commercial

Therapeutic Area

  • Cardiovascular Diseases
  • Respiratory Disorders
  • Infectious Diseases
  • Metabolic Disorders
  • Oncology
  • Immunology
  • Neurology
  • Urology
  • Dermatology
  • Ophthalmology
  • General Health
  • Others

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani

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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Innovation, Sustainability, and Water Security: A Deep Dive into the Rain Barrels Market’s Evolution in the USA and Canada

Rain Barrels Market

In the United States, notable beverage brands like Coca-Cola and the World-Wide Fund for Nature (WWF) have taken proactive steps to address stormwater management. They’ve organized rain barrel workshops, with Coca-Cola contributing over 36,000 barrels, resulting in the collection of more than 303 million liters of water to date. While some U.S. states, like California and Hawaii, have regulations governing rainwater usage, the market share of rain barrels in the United States reached 17.5% globally in 2022.

Meanwhile, in Canada, the adoption of rainwater collection is on the rise, particularly in rural areas. Many small-town municipalities are distributing free rain barrels to encourage water-saving practices. This initiative not only decreases reliance on freshwater but also aids in replenishing dwindling freshwater supplies. However, collecting rainwater in Canada’s colder climate presents unique challenges, leading manufacturers to develop innovative solutions for maintaining warm water temperatures in rain barrels. This addresses the obstacle of storing water effectively, especially in regions with limited freshwater resources, such as the Okanagan Valley in British Columbia.

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According to Future Market Insights, the global rain barrels market size is anticipated to cross a valuation of US$ 2,158.8 million in 2023. It is expected to attain a valuation of US$ 3,829.8 million by 2033. The market is anticipated to thrive at a CAGR of 5.9% from 2023 to 2033.

Recently, people are actively searching for environmentally friendly ways to preserve water and lessen their ecological imprint as environmental awareness rises. Utilizing rain barrels can help you use less freshwater by effectively collecting and storing rainwater for a variety of uses, like watering lawns and plants. Rain barrels are a practical and affordable way to preserve water at a time when water shortage is becoming a huge problem worldwide.

The growing consciousness of water scarcity boosts market growth as individuals and groups lessen their reliance on municipal water supplies. Similarly, ease the strain on nearby water resources by collecting and using rainwater. Rain barrels are useful for controlling stormwater runoff. By collecting rainfall, they avoid overflowing storm drains, which result in flooding and contaminate nearby water sources.

Large volumes of water are frequently needed by industries for a variety of activities, including cooling, cleaning, and irrigation. The industry may save a lot of money on water bills and lessen the burden on municipal water resources by reducing its dependency on freshwater sources by deploying rainwater collecting systems. Corporate social responsibility and sustainability are becoming more important in many businesses. By lowering water usage, lessening environmental effects, and showcasing a commitment to sustainable practices, rainwater collection is consistent with these goals. To encourage water conservation and long-term water management in industrial sectors, certain areas have enacted rules or standards. Industries comply with these legal requirements and avert penalties or fines by using rain barrels and other rainwater-gathering devices.

Rainwater harvesting may be used by businesses in drought-prone or water-scarce locations to ensure water supply during dry spells. When freshwater supplies are scarce, industrial operations can rely on a backup water source by collecting and storing rainwater. Rainwater collected in barrels is capable of being utilized in industrial facilities for non-potable uses including irrigation, equipment cleaning, or dust management. Industries can continue functioning while minimizing the demand for freshwater resources by using rainwater for these uses.

Key Takeaways: 

  • The global rain barrels industry size developed at a modest CAGR of 5% from 2018 to 2022.
  • In 2018, the global market size stood at US$ 1,674.4 million.
  • The global market sales accounted for US$ 2,038.5 million in 2022.
  • In 2022, the plastic segment captured 66.2% of industry shares.
  • In 2022, the 75 to 125 gallons segment captured 30.5% of market shares.
  • In 2022, Europe held 24.1% shares in the global market.
  • In 2022, The United States captured 17.5% shares in the global market.
  • Germany captured 7.0% market shares in 2022.
  • In 2022, the United Kingdom held 3.0% shares in the global market.
  • In 2022, India captured 7.3% shares in the global market.

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Recent Developments

ORBIS Corporation introduced a new product in its water and recycling containers line. Backyard rain barrels can be used for household and commercial to save rainwater such as for lawns and gardens.

“A worldwide temperature alteration and changing climatic condition is expanding the requirement for rain water safeguarding, which is speeding up the deals of rain barrels,” comments the FMI expert.

Competitive Landscape

Key companies operating in rain barrels industry profiled by FMI include

  • ORBIS Corporation,
  • Capi Europe B.V.,
  • GRAI GMBH,
  • Koolatron Corporation,
  • ROTO Group UK,
  • WISY AG,
  • The Barrel Makers,
  • Kingfisher Direct Ltd.,
  • Etills Limited,
  • Oaklands Group LTD.,
  • Good Ideas Inc.,
  • Algreen Products Inc.,
  • Bosmere Products Ltd., and
  • Emsco Group among others.

In 2021, ORBIS Corporation offered new frame work for inbound food and beverage applications to protect the product during the transportation process by utilizing full pallet loads of beverage products.

Algreen Products Inc. are focusing on developing sustainable and green products such as castilla rain barrel, Athena rain barrel, cascata rain barrels and others at affordable prices to generate the revenue prospects for upcoming years.

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Key Segments Covered in Rain Barrels Industry Research

Capacity Type

  • 25-75 gallons
  • 75-125 gallons
  • 125-175 gallons
  • Above 175 gallons

Material Type

  • Metal
  • Plastic
  • Wood
  • Concrete & Clay

Head Type

  • Open Head
  • Tight Head

Region

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

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Nandini Singh Sawlani 

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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Monoprotein Market Poised for Robust Growth, Predicted to Reach US$ 4.3 Billion by 2032

The global monoprotein market share is set to witness growth at a CAGR of 3.0% and top a valuation of US$ 4.3 Bn by 2032. Demand for monoprotein is likely to increase as pet owners need to deal with pet’s intolerance to a particular type of food protein, it is difficult to get away from the undesired components for customers.

Monoprotein sales are expected to increase because it is a single protein-sourced product. It is a solution that ensures the distinctiveness and purity of pet food items, as well as the inclusion of essential nutrients for pet health. As a result, these factors are predicted to increase the monoprotein market share between 2022 and 2032.

Furthermore, commodities sold as fish or chicken-based meals today contain a slew of hazardous additives and preservatives. Furthermore, in order to avoid such goods, consumers are turning to monoprotein, which is boosting the monoprotein market throughout the forecast period.

The Monoprotein industry is expanding rapidly as buyers seek specialised dietary solutions for their pets. Single-source protein diets are becoming more popular as pet health and wellbeing become more prominent. Monoprotein pet food delivers nutritional benefits while also addressing specific dietary sensitivities, fueling market growth in the pet food sector.

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The adoption of monoprotein is anticipated to recover the gap in the pet food market where a certain type of food protein is necessary to build immunity and muscle mass for pet’s allergy.

There are many variants like pork, chicken, salmon, and others available as a protein source to those products. As a result, the sales of monoprotein are anticipated to rise. These factors are anticipated to boost the monoprotein market trends & forecast during the forecast period.

Key Takeaways from Market Study

  • The monoprotein market analysis is worth US$ 3.2 Bn sales in 2022.
  • The monoprotein market share is expected to expand at a CAGR of 3.0% through 2032.
  • Global monoprotein demand is projected to grow year-on-year (Y-o-Y) growth of 2.7% in 2022.
  • The monoprotein market statistics are growing with a notable boost towards the production to reach US$ 4.3 Bn by 2032.
  • High product demand from the pet food industry, and tasty and convenient product forms are the factors driving the monoprotein market growth.
  • These factors are some of the influencing factors among consumers, which is driving sales of monoprotein across global markets.
  • Demand for monoprotein grew at 2.4% CAGR between 2017 and 2021.
  • Monge SPA, Purina PetCare (Nestlé S.A.), Brit Mono Protein (Vafo Praha s.r.o.), Country Farms, and Stuzzy Monoprotein (Agras Delic S.P.A.) are expected to be the top players in the industry.
  • Monoprotein market key trends & opportunities rise along with the dog as pet type, adult pet life-stage, flavored monoprotein, raw packaging type, and online retail sales channel are in heavy demand from pet food industry carrying a notable market share.

“A single source of protein for pets with guaranteed tolerability among the animals with food intolerance or allergies is the principle behind monoprotein products. The products come without any added preservatives, or artificial colorants or flavorings, to ensure that there is no chance of harm to the pets and the pet get complete nutrition as well from the product, driving the market growth,” – Future Market Insights Analyst.

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Competitive Landscape

Key monoprotein brands are conducting several types of research and looking for new strategic partnerships, while key business brands are focusing on developing applications in the food industry to generate high-quality food and beverage solutions.

The top players are focusing on new formulations and product innovations to gain monoprotein market growth and attract more customers to the product.

  • In 2020, Monge launched the top-quality and natural super-premium product BWild, which is a Low Grain or Grain Free monoprotein, and launched to fulfil the demand for innovative products in the field of the pet food industry, which also supports the dietary needs of pets.

Monoprotein Market by Category

By Pet Type:

  • Dog
  • Cat
  • Others

By Pet Life-stage:

  • Adult
  • Kitten/ Puppy
  • Others

By Flavor:

  • Unflavoured
  • Flavoured

By Packaging Type:

  • Raw
  • Powdered
  • Dry & Dehydrated
  • Liquid & Gravy
  • Canned
  • Frozen & Freeze-Dried
  • Others

By Sales Channel:

  • Hypermarkets /Supermarkets
  • Convenience Stores
  • Discount Stores
  • Online Retail
  • Others Retail Formats

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

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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United Nations (UN) Certified Food Bags and Antistatic Bags Among Key Players in the Booming European Bulk Bag Market – Reports Future Market Insights (FMI)

The demand for bulk bags is on the rise due to several key factors across various industries. One significant driver is the need for safe transportation of industrial chemicals and mining products in bulk. Bulk bags, including antistatic bags and cross-corner bags, offer a secure and efficient way to handle and transport such materials, ensuring safety and minimizing contamination.

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Additionally, the demand for contamination-free solutions is pushing the adoption of United Nations (UN) certified food bags and bulk bags in the food and agriculture sectors. These bags provide a reliable means to deliver food products while maintaining their quality and safety standards. As a result, there is a growing market for these bags in Europe.

ESOMAR-certified market research firm Future Market Insights (FMI) has conducted a study that analyzes the sales of bulk bags in more than ten high-growth European markets. The study also considers the impact of the COVID-19 pandemic on the packaging industry as a whole and specifically on the demand for bulk bags. This research provides valuable insights into the factors driving the increasing use of bulk bags in various industrial sectors in Europe.

The market for bulk bags in Europe is anticipated to reach US$ 1.6 billion by 2021 and to grow at a CAGR of 3.4% from 2020 to 2030. This growth is being driven by several factors, including the increasing demand for bulk packaging solutions in various industries such as construction, food and beverages, and pharmaceuticals. Bulk bags offer several advantages over other types of packaging, including cost-effectiveness, flexibility, and ease of handling.

Another driver of the market is the growing trend towards sustainability. Bulk bags are reusable and recyclable, making them a more environmentally friendly packaging solution than single-use packaging options. As consumers become more environmentally conscious, the demand for sustainable packaging solutions is increasing, driving the growth of the bulk bags market.

In terms of application, the construction industry is expected to be the largest market for bulk bags in Europe. Bulk bags are used to transport and store construction materials such as sand, gravel, and cement, and their cost-effectiveness and ease of handling make them a popular choice for the construction industry. The chemicals and food and beverages industries are also expected to be major markets for bulk bags in Europe, driven by the need for safe and secure transportation and storage of bulk materials.

In terms of geography, Western Europe is expected to be the largest market for bulk bags in Europe, due to the large construction industry and the strong demand for sustainable packaging solutions in the region. However, the Eastern Europe market is expected to grow at a faster rate, driven by the increasing adoption of bulk packaging solutions in the region and the growing trend towards sustainability.

Despite the growth prospects of the Europe bulk bags market, the market does face several challenges. One of the main challenges is the competition from other types of packaging such as drums, IBCs (Intermediate Bulk Containers), and paper sacks. These packaging options are also popular for the transportation and storage of bulk materials, and they offer their own advantages and disadvantages compared to bulk bags.

Another challenge is the impact of the COVID-19 pandemic on the market. The pandemic has disrupted global supply chains and impacted the demand for packaging solutions in various industries. However, the growing demand for sustainable packaging solutions and the increasing adoption of bulk packaging solutions in various industries are expected to drive the growth of the bulk bags market in Europe in the coming years.

In conclusion, the Europe bulk bags market is a rapidly growing segment of the global packaging industry, driven by the increasing demand for bulk packaging solutions and the growing trend towards sustainability. While the market does face challenges, such as competition from other types of packaging and the impact of the COVID-19 pandemic, the advantages of bulk bags in terms of cost-effectiveness, flexibility, and sustainability are expected to continue to drive their adoption in various industries across Europe.

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Key Takeaways from Bulk Bags Market

  • Increasing focus on improving trade will favour bulk bags sales in Europe, enabling the market to rise at a steady 3.4% CAGR between 2020 and 2030
  • Negatives sales likely in the U.K. amid COVID-19, however, recovery of the market is expected 2022 onwards
  • 2021 and 2022 to remain uneventful years as Germany and France might continue registering declining sales, demand is expected to increase 2022 onwards
  • Despite decelerating sales, Benelux is expected to register a positive growth at little below 1% in 2021

Who is winning?

Grief, Inc., Berry Global Group, Inc., Intertape Polymer Group, Conitex Sonoco, LC Packaging International BV, Bag Corp, Sackmaker J&HM Dickson Ltd., Emmbi Industries Ltd., RDA Bulk Packaging Ltd. Conrop, s.r.o., MANICARDI srl, Sokuflex Behälter GmbH, Bulk Containers Europe BV, DIV Trades d.o.o., TiszaTextil Plastic Processing and Sales LTD., PLASTCHIM-T AD, Pera Plastic Czech s.r.o., Romtextil SA, EUROFLEX FIBC LIMITED, and BLOCKX GROUP are the prominent players in the Europe bulk bags market. The Tier 3 players in the market hold 70-80% in the Europe bulk bags market. In conclusion, key players contribute almost 20-30% of the Europe demand.

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Bulk Bags Market by Category

Product Type

  • 1&2 loops bags
  • Four loop big bag
  • Form stable big bag – Q-bag
  • Anti-static big bag – Antistatic Bag
  • Big bag with valve Cross Corner Bag
  • UN Big bag – Food Bag

End Use

  • Building & Construction
  • Chemicals & Fertilizers
  • Food Products & Agriculture
  • Pharmaceuticals
  • Mining

Country

  • Germany
  • Spain
  • Italy
  • France
  • K.
  • Benelux
  • Nordic

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Nandini Singh Sawlani 

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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Global Radiotherapy Device Industry Targets US$ 12,895.19 Million by 2033 with 6.6% CAGR | FMI Insights

The Global Radiotherapy Device Industry is poised for significant expansion, with a projected value of US$ 6,805.43 million in 2023 set to double to US$ 12,895.19 million by 2033. This remarkable growth is fueled by a compound annual growth rate (CAGR) of 6.6% during the forecast period from 2023 to 2033.

Radiotherapy, a pivotal tool in the treatment of cancer, has witnessed continuous advancements in technology and treatment techniques. The demand for cutting-edge radiotherapy devices is on the rise, driven by the increasing prevalence of cancer worldwide and the quest for more effective and precise treatments.

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Patient preference for minimally invasive techniques: Patients suffering from cancer, especially breast cancer (the second most common cancer in the world) are showing an increasing preference for minimally invasive treatment techniques and this is anticipated to fuel the growth in demand for radiotherapy.

The growing popularity of radiotherapy devices among oncologists: Radiation therapy being the most popular therapy type in cancer management, oncologists across the world are showing an inclination towards radiotherapy devices, given the fact that more than 50% of cancer patients are likely to receive radiotherapy during the course of their treatment – either in primary disease management or for symptom control.

Global Radiotherapy Device Industry – Current Scenario & Future Outlook

The current scenario of the global Radiotherapy Device Industry indicates a growing demand for radiotherapy devices in developing countries owing to ease of regulations and increasing product affordability. The Radiotherapy Device Industry is highly consolidated with companies offering innovative products with latest technological advancements.

The future market outlook leans on minimally non-invasive technology that will generate the necessary demand in the global market. Among regions, North America will rule the global market for radiotherapy devices. Technological advancements coupled with growing instances of different types of cancers will make the global Radiotherapy Device Industry a lucrative destination for investors.

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Global Radiotherapy Device Industry: Segmental Forecast

The global Radiotherapy Device Industry is segmented on the basis of product type into External Beam Radiotherapy Devices (sub-segmented into Linear Accelerators Devices and Proton Therapy Devices) and Internal Beam Radiotherapy Devices (sub-segmented into Brachytherapy); on the basis of end user into Hospitals, Ambulatory Surgical Centres, and Oncological Treatment Centres; and on the basis of region into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa.

By product type, External Beam Radiotherapy Devices will dominate the global Radiotherapy Device Industry in terms of value share, estimated to hold over 75% market share in 2017 and over 85% market share by the end of the forecast period in 2027. This segment will register a high CAGR of 10.7% during the forecast period.

By end user, Hospitals will retain a dominant position in the global Radiotherapy Device Industry with an estimated market valuation in excess of US$ 6,500 Mn by the end of 2027. Oncological Treatment Centres will hold the runner-up position, registering a CAGR of 8.7% during the forecast period.

Among the regional markets, North America will retain its pole position in the global market with a Y-o-Y growth rate of 8.1% in 2018 over 2017. Latin America will witness sluggish growth throughout the forecast period, with a CAGR of 6.4% recorded between 2017 and 2027.

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Global Radiotherapy Device Industry: Competition Dashboard

The Future Market Insights report profiles some of the leading companies operating in the global Radiotherapy Device Industry including Varian Medical Systems, Elekta AB, Accuray, Inc., C.R. Bard, Inc., IBA Ion Beam Applications SA, Koninklijke Philips N.V., Siemens AG, Eckert & Ziegler Bebig, IsoRay, Inc., GE Healthcare, Vision RT Ltd., RaySearch Laboratories AB, Theragenics Corp, Toshiba Medical Systems Corporation, AngioDynamics, Inc., Mitsubishi Electric Corporation, Shinva Medical Instrument Company Limited, and Neusoft Medical Systems Co., Ltd.

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani

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
LinkedInTwitterBlogs | YouTube