Market Research Blog – Page 1849 – New Product Development

Future Projections: Salt Content Reduction Ingredients Market to Reach USD 11,879.8 Million by 2033, Growing at 9.3% CAGR | FMI Reports

In 2023, the global salt content reduction ingredients market is estimated to be valued at approximately USD 4,882.1 million. Over the period from 2023 to 2033, it is projected to grow at a robust CAGR of 9.3%, reaching a market value of USD 11,879.8 million by 2033. This growth is primarily driven by increasing consumer awareness regarding the adverse health effects of high salt consumption. As individuals become more health-conscious, there is a rising demand for food products with reduced sodium content. Government regulations and initiatives promoting healthier dietary choices have further accelerated the adoption of salt reduction ingredients by food manufacturers.

However, the industry faces significant challenges, particularly in overcoming taste and sensory obstacles associated with reducing salt in food products. Salt not only adds flavor but also enhances the overall taste experience, making it difficult to replicate with alternative ingredients. Additionally, the cost of salt reduction ingredients can be higher than traditional salt, posing financial challenges for smaller food manufacturers and price-sensitive consumers.

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Despite these challenges, the salt content reduction ingredients industry presents promising growth opportunities. The escalating demand for healthier food options and clean label products fuels this growth. Food manufacturers are actively seeking alternatives to salt that can improve the nutritional profile of their offerings while maintaining taste and quality. The rising preference for natural and clean label ingredients provides an excellent opportunity for manufacturers of salt reduction ingredients derived from natural sources.

An emerging trend in the industry is the use of novel technological solutions to enhance salt reduction in food products. Techniques such as microencapsulation, nanotechnology, and flavor enhancers are gaining traction as they offer effective means to retain taste while reducing sodium content. Additionally, plant-based and seaweed-derived ingredients are being explored for their ability to impart umami flavor, replacing salt in various food applications. The industry is witnessing a surge in research and development activities aimed at discovering and commercializing innovative salt reduction solutions, catering to the ever-evolving demands of health-conscious consumers and the food industry.

Key Takeaways from the Salt Content Reduction Ingredients Market:

In 2023, the United States leads the salt content reduction ingredients market with a substantial share of 24.3%, contributing significantly to the global market value.
Germany holds a considerable market share of 8.9% in 2023, accounting for a noteworthy 8.9% of the global market value.
Japan captures 6.1% of the market share in 2023, representing a significant portion of the global market value.
Australia is expected to witness steady growth, with a commendable CAGR of 2.6% during the forecast period.
China shows promising potential for substantial growth, with an anticipated CAGR of 33.9% during the forecast period.
India is poised for remarkable growth, with an estimated CAGR of 5.6% during the forecast period.
The United Kingdom is projected to experience steady growth, with a credible CAGR of 3.1% during the forecast period.
Glutamates dominate the market with a significant share of 51.3% in the salt content reduction ingredients industry by product type.
In the same industry, the application segment “Meat and Poultry” holds a prominent share of 55.3%, indicating its crucial role in shaping the industry’s landscape.

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What are Key Players Doing to Thrive in the Salt Content Reduction Ingredients Market?

The salt content reduction ingredients industry is highly competitive, with several key players vying for market share. These companies are continuously investing in research and development to introduce innovative and effective solutions for salt reduction in various food products. The market is characterized by a mix of large multinational corporations and smaller, specialized companies. Some of the prominent players in the industry include:

Tate & Lyle PLC: A global leader in the food and beverage ingredients industry, Tate & Lyle offers a wide range of salt reduction ingredients, including potassium chloride, sea salt replacers, and flavor enhancers. The company’s extensive portfolio and strong distribution network give it a competitive edge.
Cargill, Incorporated: Cargill is a major player in the agribusiness and food ingredients sector. The company offers innovative salt reduction solutions, leveraging its food science and technology expertise. Cargill’s focus on sustainable and clean label ingredients positions it favorably in the market.
Kerry Group plc: Kerry Group is a well-established name in the food ingredients industry, providing customized salt reduction solutions to food manufacturers. The company’s emphasis on consumer-driven innovation and clean label products enhances its competitiveness in the market.
Ingredion Incorporated: Ingredion is a global ingredient solutions provider known for its starch-based solutions. The company offers a range of salt reduction ingredients, including functional starches and specialty flours, catering to the demand for healthier food options.
Sensient Technologies Corporation: Sensient Technologies specializes in natural and clean label ingredients, including salt reduction solutions derived from plant-based sources. The company’s focus on sustainability and environmentally friendly practices adds to its competitive advantage.
DSM Food Specialties: DSM is a leading provider of nutritional and functional ingredients. The company offers a diverse portfolio of salt reduction solutions, addressing the growing need for healthier food alternatives.

These companies are constantly competing to expand their product portfolios, enhance their technological capabilities, and form strategic partnerships to gain a competitive edge in the dynamic and evolving salt content reduction ingredients market. As consumer demand for healthier and reduced-sodium food options continues to grow, the competition among these players is expected to intensify further.

Key Companies Profiled

Cargill Incorporated
AJINOMOTO CO., INC.
E.I. du Pont de Nemours & Co.
Associated British Foods PLC
Tate & Lyle PLC
Fufeng Group Ltd.
Advanced Food Systems, Inc.
Givaudan SA
Jungbunzlauer Suisse A.G.
Angel Yeast Co. Ltd.
Koninklijke DSM N.V.

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Salt Content Reduction Ingredients Market by Category

By Product Type:

Yeast Extracts
Glutamates (Monosodium/Potassium)
High Nucleotide Ingredients (Disodium Inosinate, Calcium Inosinate, etc.)
Hydrolyzed Vegetable Protein (HVP)
Mineral Salts (KCl, K2SO4, CaCl2, etc.)
Others (Peptide Based Compounds, etc.)

By Application:

Dairy Products
Bakery Products
Fish Derivatives
Meat and Poultry
Beverages
Sauces and Seasonings
Others (Snacks, etc.)

By Region:

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

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Wood Coatings Market is Projected to Achieve 5.9% CAGR Through 2032

The global wood coatings market is expected to augment at a healthy CAGR of 5.9% throughout the forecast period from 2022 to 2032. The expansion of the wood coatings market is attributed to the growth of the housing market as spending on maintenance of decks, fences, flooring, and siding is rising. Furthermore, stringent regulations, increased competition, a rise in unique formulations, and new product advancements are some of the reasons driving the growth of the wood coatings industry.

Rapid urbanization in response to increasing development and population growth is predicted to increase housing demand on a huge scale. As a result, the demand for furniture such as chairs, tables, mattresses, sofas, shelves, and cupboards has risen exponentially, thereby surging the demand for wood coatings. Although, the availability of less expensive and higher-quality replacements, such as wood composites and plastic wood, may limit the wood coatings market’s growth. Furthermore, stringent regulations, rising competition, growth in unique formulations, and new product developments are some of the factors stimulating the growth of the wood coatings market.

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In addition, the availability of cheaper and quality substitutes such as wood composites and plastic wood is likely to hamper the growth of the wood coatings market. Such alternatives are often more durable and require less maintenance in comparison to other wood products. Although several substitutes are available, wood is a primary choice for commercial and residential purposes for clear wood finish due to its wide availability in the market. Clear coat for wood accounts for most of the wood protection demand comprising paints and stains accounting for the largest shares. In contrast, preservatives, which are applied to lumber by wood treatment companies, account for a smaller portion of wood protection demand.

Key Takeaways

Wood coating applications comprise interior wood, small furniture, panels, tables, cupboards, chairs, office furniture, kitchen furniture, doors, and staircases among others. Generally, there are three major types of wood coatings such as evaporative, reactive, and coalescing.
It has been often observed that the wood’s color changes by staining, bleaching, or any other techniques. Once the wood surface is prepared and stained, the coating is applied. It usually consists of several coats of shellac, drying oil, paint, wax, or lacquer.
In the final stages, the surface may be polished with the help of wool, steel, rotten stone, or other materials. It is also dependent on the shine desired by the customer. In addition to that, a final coat of wax is applied over the finish to add a degree of protection. Polyurethane finish is also associated with wood coatings.
Furniture, decking, and siding are the three largest applications of wood coatings in value terms. However, smaller doors, windows, and cabinet applications are expected to achieve faster growth in the near future.
Paint is considered a dominant wood coatings product utilized on siding, windows, and doors, but as compared to other products, stains and sealers are more widely utilized on cabinets, decks, furniture, and flooring. Polyurethane wood finish is predominately used in primers and sealers.
Residential end-user is known as the largest market for wood protection products, driven by maintenance demand for various items such as fences, siding, and decks. Non-residential and non-building uses account for a much smaller market for wood protection products.

Competitive Landscape

Key players in the global wood coatings market are focusing on launching new and innovative types of wood coatings in order to get an edge over the global landscape. The prominent market players are concentrating on mergers and acquisitions to cater to the diverse customer base. Furthermore, technological advancements are making it possible to innovate new wood coatings products for better results in the future.

Top Key Players

Akzo Nobel Coatings nv (Netherlands)
PPG Industries Inc. (USA)
Sherwin-Williams Co. (USA)
DuPont Coatings and Colour
Technologies Group (USA)
ICI Paints (United Kingdom)
BASF Coatings AG (Germany)
Valspar Corp. (USA)

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More Insights into the Wood Coatings Market

North American region is anticipated to dominate the global wood coatings market. The growth of the region is attributed to the increased demand for personalized home design products, as well as rising customer spending, which will act as a major driver for a thick clear coat of wood in North America.

Asia Pacific region is currently known as the largest market for wood coatings, followed by Europe. The expansion of the market is responsible due to rising sustained demand from the developed markets and burgeoning demand from emerging economies will continue to drive the wood coatings market. The wood coatings market is witnessing a major shift of key market players from Europe and the U.S. to the emerging economies of Asia Pacific, comprising China and India.

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Global ACF Supplements Market Poised for Significant Growth, Valued at USD 384.5 Billion in 2032

The global ACF supplements market is experiencing unprecedented growth, with a valuation of USD 163.9 billion in 2022 and projections indicating it will soar to USD 384.5 billion by 2032. This remarkable growth trajectory is underpinned by a compound annual growth rate (CAGR) of 8.9% from 2022 to 2032, driven by continuous innovation and expansion in dietary supplements and pharmaceutical products.

The ACF (animal-derived component-free) supplements market is gaining substantial traction as consumers and manufacturers increasingly prioritize health, safety, and ethical considerations. ACF supplements, which are free from animal-derived components, are added to protein-free cell culture media to initiate cell growth. These supplements are pivotal in producing biopharmaceuticals for therapeutic use, especially as the scrutiny over animal-derived components intensifies due to contamination risks such as HIV, BSE, Hepatitis, and BVD.

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Key Drivers of Market Growth:

Innovation and Expansion in Supplements: The dietary supplements and pharmaceutical industries are witnessing significant advancements, fostering the demand for ACF supplements. Innovations in processing technologies and the introduction of new biopharmaceutical products are key factors propelling market growth.
Shift Toward Vegan and Vegetarian Lifestyles: There is a notable shift among consumers toward vegetarian and vegan lifestyles, driven by environmental concerns, personal health, and animal welfare. This trend is significantly boosting the demand for ACF supplements, which align with these lifestyle choices.
Health Benefits: ACF supplements offer numerous health benefits, including a reduced risk of LDL, heart disease, diabetes, blood pressure, and cancer. The increasing awareness of these benefits, amplified by social media platforms, is driving market demand.
Preventive Healthcare: The rising emphasis on preventive healthcare is another critical factor contributing to market growth. Consumers are increasingly incorporating dietary supplements into their daily routines to maintain overall health and prevent potential illnesses.

Regional Insights:

North America currently holds the largest market share in the global ACF supplements market, followed by Europe. This dominance is attributed to the high awareness of health and fitness and the widespread adoption of vegetarianism. Additionally, consumers in these regions are highly conscious of their nutritional intake and weight management, further fueling market growth.

Asia Pacific is expected to witness considerable growth during the forecast period, driven by increased expenditure on developing natural ingredients, rising disposable incomes, and rapid urbanization. China, in particular, is anticipated to achieve the highest growth rate in terms of production.

Competitive Landscape:

The ACF supplements market features several key players, including STEMCELL Technologies Inc., Kerry Inc., StemCell Inc., Xell AG, InVitria, ScienCell Research Laboratories, Inc., HiMedia Laboratories, ZenBio, Biological Industries, and PeproTech, Inc. These companies are focusing on expanding their market presence through strategic acquisitions and collaborations. For instance, in April 2022, Kerry Inc. successfully acquired the U.S.-based Natreon, Inc., a prominent supplier of branded Ayurvedic botanical ingredients.

Market Segmentation:

The ACF supplements market is segmented based on form, end user, and region:

By Form:
- Dry
- Liquid
By End User:
- Pharmaceutical
- Dietary supplements
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa

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Growth Opportunities:

Emerging economies present significant growth opportunities for the ACF supplements market, driven by higher rates of dietary supplement and pharmaceutical product adoption. The rising GDP, expanding middle-income population, and increasing purchasing power in these regions are expected to fuel market expansion.

Conclusion:

The global ACF supplements market is on a robust growth path, driven by innovations in dietary supplements and pharmaceuticals, a shift toward vegan and vegetarian lifestyles, and the increasing focus on preventive healthcare. As consumers continue to prioritize health and ethical considerations, the demand for ACF supplements is set to rise significantly. Investors looking to capitalize on this burgeoning market should consider the promising growth prospects and the strategic initiatives of leading market players.

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Explore FMI’s related ongoing Coverage in Food and Beverage Domain:

The global calcium supplements market is forecasted to be valued at US$ 8.01 billion by 2032, up from US$ 3.8 billion in 2022, advancing at a CAGR of 7.74% from 2022 to 2032.

The global liver health supplements market size is set to exhibit growth at a CAGR of 5.6% in the forecast period. It is anticipated to be valued at US$ 9.4 Billion in 2022 and US$ 14.7 Billion in 2032.

The liquid feed supplements market size is projected to be valued at US$ 6,155 million in 2023 and is expected to rise to US$ 10,072.6 million by 2033.

The global Vitamin Supplement Market is estimated to secure a valuation of US$ 57.63 billion in 2023 and US$ 133.94 billion by 2033.

Newly-released Elderberry Supplements Market analysis report by Future Market Insights reveals that global sales in 2022 was held at US$ 1.1 Billion. With 8.9% projected growth from 2023 to 2033

The Vegan Vitamins and Supplements market is anticipated to expand at a CAGR of 6.10% during the forecasted period.

The Glucosamine Supplements Market is expected to expand at a CAGR of 4.8%. The industry’s estimated value will increase from US$ 583.6 Million in 2023 to US$ 932.7 Million in 2033.

Choline Supplement Sales to Soar at 8.4% CAGR by 2034 Amid Rising Awareness of Health Benefits of Choline and Surging Demand for Brain Health Supplements

As per Future Market Insights’ latest report, the global choline supplement market value is estimated to reach US$ 612.0 million in 2024. Global sales of choline supplements are set to rise at 8.4% CAGR, totaling a valuation of US$ 1,367.9 million by 2034.

Choline bitartrate supplement demand is forecast to surge at 8.2% CAGR, making it the top revenue-generation ingredient type category. This can be attributed to higher bioavailability, stability, and cost-effectiveness of choline bitartrate.

Several factors are providing impetus for the growth of the choline supplement industry. These include growing awareness of the health benefits of choline, escalating demand for brain health supplements, and a spike in brain and liver diseases.

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Choline supplements are gaining wider popularity due to their brain and liver health-promoting capabilities. These supplements contain choline, which plays a key role in various bodily functions. This nutrient is essential for brain development, metabolism, and muscle control.

Increasing spending on choline supplements due to their potential health benefits will continue to fuel sales growth. Consumers across the world are increasingly consuming choline supplements to boost brain health, enhance athletic performance, improve cognitive functions, and support liver health.

Growing demand for brain health supplements, spurred by an aging population and growing incidence of neurological disorders, is positively impacting sales growth. Similarly, a spike in liver diseases like non-alcoholic fatty liver disease and surging interest in fortified foods will boost market growth.

Escalating consumer demand for gluten-free supplements and rising interest in clean-label supplements derived from natural sources such as sunflower are emerging trends in the market. Another prominent factor impacting sales growth is the surging demand for choline supplements during pregnancy.

Key Takeaways from the Market Study

The global choline supplement market is estimated to be valued at US$ 1,367.9 million by 2034.
Based on form, the capsules segment is set to account for a market share of 5% in 2034.
By ingredient type, choline bitartrate demand is forecast to rise at 2% CAGR.
Based on claim, the non-GMO segment will hold a market share of around 8% by 2034.
Sales in the United States are estimated to total US$ 277.5 million in 2034.
Choline supplement demand in Germany is anticipated to grow at 7% CAGR through 2034.

“The choline supplement industry is witnessing robust growth, spurred by increasing demand for cognitive health products. Strategic marketing and innovation will be key for industry players to capitalize on emerging opportunities,” says a lead analyst at Future Market Insights (FMI).

Who is Winning?

Key choline supplement manufacturers and suppliers are focusing on developing novel solutions for targeted individuals seeking cognitive enhancement and other benefits. They are marketing their supplements to people interested in health and wellness.

Several players are using celebrity endorsements and social media platforms to promote their products and increase their customer base. They are also employing strategies like partnerships, acquisitions, mergers, distribution agreements, and collaborations to stay ahead of the competition.

Recent Development:

In January 2020, Balchem Corporation introduced the new PuraChol line of branded choline products.

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Get More Valuable Insights

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

The study incorporates compelling insights on the global choline supplement market based on ingredient type (choline bitartrate, phosphatidylcholine, citicoline, alpha-GPC, choline chloride), claim (non-GMO, GMO, vegan, gluten-free), sales channel (store-based retailing and online retailing), form (capsule, powders, liquid), & region.

Authored by:

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Explore FMI’s related ongoing Coverage in Food and Beverage Domain:

The global dietary supplement market size is expected to attain a valuation of around US$ 170.1 billion by 2034.

The fertility supplements market is expected to witness a prominent growth rate of a CAGR of 8.3% to reach the value of US$ 4,382 Mn in 2031.

The digestive enzyme supplements market size is projected to be valued at US$ 1.9 Billion in 2023 and is expected to rise to US$ 3.5 Billion by 2033.

The herbal supplement industry is progressing to attain a revenue potential of US$ 194,859.4 million by 2034.

The global calcium supplements market is forecasted to be valued at US$ 8.01 billion by 2032, up from US$ 3.8 billion in 2022, advancing at a CAGR of 7.74% from 2022 to 2032.

The older adults health supplements market is projected to register a CAGR of 6% during the forecast period, up from US$ 140 Bn in 2021 to reach a valuation of US$ 265 Bn by 2032.

The Vegan Vitamins and Supplements market is anticipated to expand at a CAGR of 6.10% during the forecasted period.

Period Cramp Supplement Market to Reach US$ 1,658.4 Million by 2034 Amid Increasing Consumer Disposable Income and Spending on Healthcare

According to Future Market Insights (FMI), the worldwide period cramp supplement market is anticipated to reach US$ 902.5 million in 2024 and US$ 1,658.4 million by 2034. By 2034, the industry is projected to rise at a CAGR of 6.3%.

The demand for period cramp supplements is rising due to increased awareness among women about menstrual health and hygiene, leading to a greater need for effective pain relief solutions. The market is growing due to millennials and Gen Z’s preference for natural remedies, self-care, digital media, and customized products, reshaping the industry and propelling innovation.

Growing awareness of natural approaches and demand for self-care products are projected to surge the growth. The availability of supplements targeting specific menstrual health concerns further fuels expansion.

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The industry is undergoing significant technological advancements, such as data-driven analysis, AI algorithms, and wearable technology, which enable custom suggestions for supplements targeting menstrual symptoms. Rising focus on precision healthcare, providing women with tailored solutions for menstrual health, is set to boost customer satisfaction and growth by 2034.

Key Takeaways from the Market Report:

The global period cramp supplement marketis set to reach a valuation of US$ 1,658.4 million by 2034.
Japan is projected to hold a dominant value share of 4%in the market by 2034.
The United States is projected to reach a valuation of US$ 429.8 millionby 2034.
India is projected to reach a valuation of US$ 26.4 millionby 2034.
Based on form, the capsule segment is set to rise at 1%CAGR by 2034.

“Growing menstrual disorders among women, including endometriosis and PCOS, has significantly increased the demand for period cramp supplements worldwide. The market is influenced by factors such as increasing awareness, aging population, and product innovation, necessitating research and transparency for consumers and manufacturers.”- says a lead analyst at Future Market Insights (FMI).

Competitive Landscape

Natracare, Vitamin Bounty, Pink Stork, Zhou Nutrition, HUM Nutrition, MyOva, Women’s Best, and Moon Juice are key period cramp supplement manufacturers listed in the report. Leading companies are concentrating on surging their portfolios by launching new products. They also use growth strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market.

For instance,

In August 2023,Moom Health, a wellness and fitness services company, introduced a new line of supplements called “cramp/less.”
In 2021, Ami Wellness introduced a new line of products aimed at female period cramp management.

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Get More Valuable Insights

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

The study incorporates compelling insights on the period cramp supplement market based on product type (minerals, vitamins, and herbal supplements others), form (tablets, capsules, powder, gummies, and tea), distribution channel (hypermarkets/supermarkets, convenience store, drug stores & pharmacies, health & wellness stores, other retailers, and online retailing), and region.

Authored by:

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Explore FMI’s related ongoing Coverage in Food and Beverage Domain:

The liquid feed supplements market size is projected to be valued at US$ 6,155 million in 2023 and is expected to rise to US$ 10,072.6 million by 2033.

The overall demand for green supplements is projected to grow at a CAGR of 3.8 %, reaching around US$ 818.0 Million by 2032.

The global Protein Supplement Market size is projected to surpass a valuation of US$ 62,990 million by 2033.

The global Vitamin Supplement Market is estimated to secure a valuation of US$ 57.63 billion in 2023 and US$ 133.94 billion by 2033.

Poly(butylene Succinate) Market Set to Soar with a 12.1% CAGR Through 2033

By 2033, the value of the global poly(butylene succinate) market is projected to rise from USD 115,306.8 thousand in 2023 to USD 361,225.6 thousand. During the assessment period, global sales of poly(butylene succinate) are expected to grow at a 12.1% CAGR.

The global poly(butylene succinate) market is expected to grow due to a number of factors. These include the growing demand for poly(butylene succinate) from the textile, agriculture, medical, and packaging industries, as well as consumers’ preference for eco-friendly materials.

Today, consumers are shifting their preferences towards eco-friendly products, driving demand for materials that align with sustainability values. As a biodegradable and eco-friendly material, poly(butylene succinate) is used in various consumer products, including textiles, personal care items, and throwaway items.

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The surging popularity of on-the-go packaged food items has led to a global rise in convenience food consumption. This surge is set to drive substantial demand for PBS in food packaging, fostering market growth over the forecast period. Rapid expansion of the medical industry is anticipated to fuel global demand for poly(butylene succinate). This is due to rising usage of this material in several medical devices.

Among the petro-based and bio-based PBS, the latter segment is expected to thrive at a higher growth rate. This is due to the growing demand from packaging and agriculture industries. Rising environmental concerns and increasing awareness about plastic pollution will likely boost the demand for sustainable packaging solutions. This is expected to create growth opportunities for global poly(butylene succinate) manufacturers.

Asia Pacific is the leading manufacturer of poly(butylene succinate) owing to the low-cost manufacturing along with vast supply chains in this region. In contrast, the countries from North America and Europe dominate the consumption of PBS due to strict regulations in these markets.

Key Takeaways from the Poly(butylene Succinate) Market Report:

The global poly(butylene succinate) market is set to thrive at 1% CAGR through 2033.
By product type, the bio-based PBS segment is expected to hold around 85% market share by 2033.
By processing method, the extrusion process is predicted to hold about half of the market share by 2033.
Based on end-use industry, agriculture segment is forecast to thrive at 7% CAGR through 2033.
The United States market value is expected to reach US$ 86,868.9 thousand by 2033.
Sales revenue in Germany is projected to reach US$ 42,548.6 thousand by 2033.
China market is poised to exhibit a CAGR of 2% between 2023 and 2033.
Demand in Japan is anticipated to rise at 4% CAGR through 2033.

“Versatile applications of poly(butylene succinate) in multiple end-use industries coupled with sustainable routes for production will surge product demand through 2033. Delay in adoption of regulations mandating recyclable or bioplastics could hamper growth. However, current trends in the market suggest otherwise as a significant share of key market players are shifting to adopt poly(butylene succinate) and other bioplastics, regardless.” – says a lead analyst at FMI

Who is Winning?

The poly(butylene succinate) market is estimated to be slightly consolidated, where top market participants hold about 60% to 65% of the market share. Leading manufacturers of poly(butylene succinate) listed in the report include Mitsubishi Chemical Corporation, Hengli Group Co., Ltd., Anhui Sealong Biotechnology Co., Ltd. and others.

The market has experienced increased activity in product development, with key manufacturers prioritizing product launch initiatives. These key players are committing substantial investments to enhance domestic production capabilities. Additionally, there have been notable advancements in the manufacturing processes of poly(butylene Succinate), resulting in enhanced production efficiencies and cost reductions.

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Poly(butylene Succinate) Market Segmentation

By Product Type:

Bio-Based
Petro-Based

By Processing Method:

Injection Moulding
Extrusion
Blow Molding
Film Casting

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia and Pacific
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 ~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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Pet Skin and Coat Health Supplement Sales Set to Soar at 10.7% CAGR through 2034, Driven by Growing Pet Humanization Trend

The global pet skin and coat health market value is estimated to total USD 450.6 million in 2024 and USD 1,245.3 million by 2034. Global sales are projected to surge at a CAGR of 10.7% throughout the forecast period.

Several factors are expected to stimulate the growth of the pet skin and coat health supplement market over the next ten years. One such factor is the rising pet population globally. Similarly, a spike in pet diseases and an increasing pet humanization trend are set to propel demand through 2034.

Rising disposable income around the world is leading to spending capacity on pet-related products, including supplements that target pet skin and coat health. This is likely to provide a strong thrust to industry growth.

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Pet owners are becoming aware of the importance of supplements on pet health and appearance. This is directing them to spend heavily on pet care products, including pet skin and coat health products.

Many people are treating pets as members of the family, leading to increasing emphasis on their health and well-being. This includes a willingness to spend on pet skin and coat supplements, leading to market growth.

Leading players are focusing on creating new formulations with natural ingredients. Subsequently, they are using effective marketing techniques to attract customers, leading to further industry development.

Companies are investing in research and development to create effective supplements sourced from natural ingredients. Owing to out-of-the-box marketing techniques such as converting pets from just animals to family members point to significant growth for the pet skin and coat health supplement industry.

Key Takeaways from the Pet Skin and Coat Health Supplement Market Study:

The global market is projected to total USD 1,245.3 million by 2034.
Based on form, chewables category is poised to advance at a CAGR of 4% through 2034.
By availability, OTC segment is set to account for a value share of 2% in 2024.
Sales in the United States are likely to total USD 389.8 million by 2034.
China is forecast to record a 1% CAGR between 2024 and 2034.

“Companies which will introduce effective marketing strategies targeting the pet owners with interesting ingredients for supplements will be the winners of the market”, says a lead analyst at Future Market Insights (FMI).

Who is Winning?

WagWell Allergy & Itch Chews, iHeartDogs, PetNC Natural Care, Vet’s Best, Pet Parents USA, and Lloyd & Lucy’s are a few of the leading manufacturers and suppliers of pet skin and coat health supplements listed in the report.

Key players are constantly focusing on launching new products with natural ingredients to meet evolving consumer needs. Similarly, strategies like partnerships, acquisitions, and distribution agreements are becoming popular among companies.

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Industry Update:

In 2023, United States-based Badlands Ranch launched ‘Super20’, a new multi-benefit that supports the well-being of dogs.

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Future Market Insights (FMI), in its new offering, provides a thorough, detailed and unbiased analysis of the global pet skin and coat health supplement market, presenting historical demand data for the years 2019 to 2023 and forecast statistics for the years 2024 to 2034.

The study provides compelling industry insights based on pet type (dog, cat, and others), form (pill/tablet, chewables, powder, liquid/syrup, paste/gel, and others), availability (prescription-based and over-the-counter (OTC)), and sales channels (store-based retailing (hypermarkets/supermarkets, convenience stores, pet stores, discounters, independent grocery retailers, drugstores) and online retailers (company website, e-commerce platform, hyperlocal delivery)) across several regions.

Authored by:

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Explore FMI’s related ongoing Coverage in Food and Beverage Domain:

The global calcium supplements market is forecasted to be valued at US$ 8.01 billion by 2032, up from US$ 3.8 billion in 2022, advancing at a CAGR of 7.74% from 2022 to 2032.

The multi nutritional supplement market was worth US$ 310 Billion in 2020 and is expected to advance at a 5.9% CAGR from 2022 to 2032.

The older adults health supplements market is projected to register a CAGR of 6% during the forecast period, up from US$ 140 Bn in 2021 to reach a valuation of US$ 265 Bn by 2032.

The liquid feed supplements market size is projected to be valued at US$ 6,155 million in 2023 and is expected to rise to US$ 10,072.6 million by 2033.

The overall demand for green supplements is projected to grow at a CAGR of 3.8 %, reaching around US$ 818.0 Million by 2032.

The global Protein Supplement Market size is projected to surpass a valuation of US$ 62,990 million by 2033.

The Glucosamine Supplements Market is expected to expand at a CAGR of 4.8%. The industry’s estimated value will increase from US$ 583.6 Million in 2023 to US$ 932.7 Million in 2033.

The global skincare supplement market size is projected to reach USD 2,780 million in 2024. The industry is estimated to attain a value of around USD 4,500 million by 2034 and witness a CAGR of 8.8% in the forecast period 2024 to 2034.

Booming Cosmetics Industry Fuels 2-Hexyldecanol Market Growth to Reach USD 111 Billion by 2032

The global 2-hexyldecanol market, valued at USD 75 billion in 2022, is poised for significant growth, projected to reach USD 111 billion by 2032. This anticipated expansion, driven by a CAGR of 4% over the forecast period, is largely attributed to increasing demand in the cosmetics industry. As more low-income countries experience growth in their cosmetics sectors, the demand for 2-hexyldecanol, a key ingredient in many personal care products, is expected to rise.

This upward trend in the 2-hexyldecanol market reflects broader economic shifts and increasing consumer spending on personal care in emerging economies. The versatile nature of 2-hexyldecanol, which is used for its emollient and conditioning properties, makes it a valuable component in various formulations, thereby fueling its market demand. With the cosmetics industry expanding globally, particularly in developing regions, the market for 2-hexyldecanol is set to experience robust growth in the coming decade.

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Key Driving Factors:

Surging Demand in End-Use Industries:
- 2-Hexyldecanol finds extensive applications in industries such as cosmetics, pharmaceuticals, and personal care products. The increasing demand for these end-use products contributes significantly to the growth of the 2-hexyldecanol market.
Cosmetic and Personal Care Industry Expansion:
- The cosmetic and personal care industry is a major consumer of 2-hexyldecanol. The compound is valued for its emollient properties, enhancing the texture and feel of cosmetic formulations. As the global population becomes more conscious of personal grooming and appearance, the demand for cosmetics and personal care products continues to rise.
Pharmaceutical Applications:
- 2-Hexyldecanol serves as an essential ingredient in certain pharmaceutical formulations. Its utility in drug delivery systems and topical formulations contributes to its increased adoption in the pharmaceutical industry. As healthcare needs grow worldwide, the demand for pharmaceuticals is expected to rise, positively impacting the 2-Hexyldecanol market.
Growth in Emerging Economies:
- Emerging economies are witnessing rapid industrialization and urbanization, leading to an increased demand for consumer goods, cosmetics, and pharmaceuticals. The 2-hexyldecanol market benefits from this trend as manufacturers cater to the rising needs of these expanding markets.
Research and Development Initiatives:
- Ongoing research and development activities focus on exploring new applications and improving the production processes of 2-hexyldecanol. Innovations in formulations and applications are likely to open up new avenues for market growth.
Stringent Regulatory Environment:
- Stringent regulations in the cosmetic, personal care, and pharmaceutical industries regarding the use of safe and effective ingredients have boosted the demand for high-quality compounds like 2-hexyldecanol. Compliance with these regulations ensures a steady market for the compound.

Key Companies Profiled in the 2-Hexyldecanol Market

BASF SE
Sasol Ltd
Kisco Ltd
New Japan Chemical Co., Ltd
DowPol Corporation
Jarchem Industries Inc
TCI AMERICA
Merck KGaA

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Key Segments Profiled in the 2-Hexyldecanol Market

By Grade:

Technical Grade
Pharma Grade

By Function:

Solvent
Emulsifier
Solubilizer
Others

By End Use:

Personal Care & Cosmetics
Pharmaceuticals
Polymer & plastics
Dyes
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan
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 ~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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Soft Magnetic Composite Market Set to Soar: Anticipated 9.3% CAGR Growth Through 2033

The global soft magnetic composite market is expected to grow from USD 44,459.0 million in 2023 to USD 108,392.0 million by 2033, according to a Future Market Insights (FMI) report. Global demand for soft magnetic composites is expected to rise at a CAGR of 9.3% during the assessment period.

The electrical steel segment is expected to dominate the soft magnetic composite industry through 2033. It will likely hold a volume share of 63.9% in 2023. On the other hand, the iron powder segment is poised to exhibit a higher CAGR of 9.8% through 2033.

Soft magnetic composites are widely used in electromagnetic devices like transformers, electric motors, generators, and inductors. This is due to their excellent properties and advantages, such as lightweight, high magnetic permeability, good machinability, and low eddy current losses.

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Soft magnetic composites (SMCs) have become ideal components in power electronic and electrical distribution systems. Growing demand for electromagnetic devices from diverse industries is projected to boost the growth of the soft magnetic composite market.

In electrical and electronic industries, soft magnetic composites are considered to be essential in multiple electrical devices. The growing demand for high-quality electrical components to achieve optimum solutions influences the consumption of SMCs.

The rising adoption of electric vehicles is acting as a catalyst, triggering sales of soft magnetic composites. This is because these composites find application in electric motors and power electronics.

Electric vehicles are the most eco-friendly since they do not emit harmful emissions. According to the International Energy Agency (IEA), between 2014 and 2015, around a 70% increase in the registration of electric vehicles was recorded, with over 550,000 vehicles being sold globally.

Soft magnetic materials play an important role in the manufacturing of motors for electric vehicles. Hence, growth in the adoption of electric vehicles will likely uplift demand for soft magnetic materials.

Soft magnetic composites have vast applications in magnetic sensors, such as for flat inductors, magneto-electronic components, etc. These sensors require thin SMC films, which are layered in structure. The increasing demand for magnetic sensors for security and automotive applications influences the supply-demand ratio in the SMC market.

Key Takeaways from the Report:

The global market for soft magnetic composites is projected to thrive at a 9.3% CAGR through 2033.
By material type, iron powder is set to hold a market share of 20.4% in 2023.
By application, the motors segment is set to account for a revenue share of 25.6% in 2023.
The United States market value is anticipated to total US$ 11,377.5 Million in 2033.
China is poised to witness a CAGR of 10.3% between 2023 and 2033.

“The soft magnetic composite market is predicted to expand around 2.4X through 2033, amid an 8.1% increase in expected CAGR compared to the historical one. This is due to the growing demand for electrical coils, motors, generators, transformers, inductors, and sensors,” – opines Analyst at Future Market Insights (FMI).

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Who is Winning?

The soft magnetic composite market is fragmented, with leading players accounting for about 80% to 85% share. Some of the leading manufacturers of soft magnetic composites listed in the report are –

Hitachi Metals Ltd
PMG Holding GmbH
Höganäs AB
GKN plc., Höganäs AB
Sumitomo Metal Mining Co., Ltd.
VACUUMSCHMELZE GmbH & Co. KG,
Rio Tinto PLC
Toshiba Corp (Toshiba Materials Co.,)
Hengdian Group DMEGC Magnetics Co., Ltd.
Mitsubishi Materials Corporation
Ames Group Sintering SA
Steward Advanced Materials LLC
TOKUSHU KINZOKU EXCEL CO., LTD.
Fluxtrol Inc.
AIC Engineering Ltd.

Get More Valuable Insights into the Soft Magnetic Composite Market Report:

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the soft magnetic composite market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. The market is segmented based on material type, application, end-use, and regions to understand the global market potential, growth, and scope.

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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Global Demand for Sodium Bicarbonate Set to Grow at 5.2% CAGR, Reaching USD 7.7 Billion by 2033

The market for sodium bicarbonate is expected to reach USD 4.6 billion in 2023, primarily as a result of rising demand from the healthcare industry. The trend, which is expected to generate a projected CAGR of 5.2% between 2023 and 2033 and an estimated total worth of USD 7.7 billion by 2033, is expected to present new opportunities for the market.

One of the primary factors driving the growth of the sodium bicarbonate market is the increasing demand from food & beverage industry. Sodium bicarbonate finds extensive application as a leavening agent in baked goods, providing the characteristic rise and texture to bread, cakes, and pastries. The expanding bakery industry, coupled with the rising consumption of convenience foods, is fueling the demand for sodium bicarbonate. The growing trend of clean label products and the need for natural ingredients in food and beverages are further propelling the market growth. Sodium bicarbonate, with its natural origin and minimal processing, fits well into the clean label product category.

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Another significant factor contributing to market growth is the increasing awareness of sodium bicarbonate’s versatile properties and its eco-friendly nature. Consumers are becoming more conscious of the environmental impact of the products they use, which has led to a surge in the demand for sustainable and environmentally friendly solutions. Sodium bicarbonate, being a natural compound, aligns with these consumer preferences. It is non-toxic, biodegradable, and can be sourced from abundant mineral deposits, making it an attractive choice for industries seeking greener alternatives.

The healthcare sector is also playing a crucial role in driving the growth of the sodium bicarbonate market. Sodium bicarbonate is widely used in the pharmaceutical industry as an active ingredient in antacids and buffering agents. It helps neutralize stomach acid and provides relief from heartburn and indigestion. The demand for sodium bicarbonate is witnessing significant growth, with the increasing prevalence of gastrointestinal disorders and the growing demand for over-the-counter antacid medications.

Key Takeaways from the Market Study

Global sodium bicarbonate market was valued at US$ 4.4 billion by 2022-end.
From 2018 to 2022, the market demand expanded at a CAGR of 2.6%.
China is expected to hold a dominant CAGR of 5.1% during the forecast period.
By End-Use, the processed food segment is expected to constitute a CAGR of 5.1% in 2033.
On the basis of Grade Type, the technical segment is expected to dominate the market with a CAGR of 5.0% in 2033.
From 2023 to 2033, sodium bicarbonate market is expected to flourish at a CAGR of 5.2%.
By 2033, the market value of Sodium Bicarbonate is expected to reach US$ 7.7 billion

“Government regulations and initiatives, across the globe is a major factor that is expected to propel the growth of the sodium bicarbonate market in the near future,” remarks an FMI analyst.

Competitive Landscape

Prominent players in the Sodium Bicarbonate market are

Solvay SA
Merck KGaA
Nirma ltd.
Tata Chemicals Ltd.
GHCL Ltd.
Ciech SA
DCW Ltd.
Seqens group
Tosoh Corporation

Recent Developments

In January 2023, Tosoh Corporation announced the completion of a new production facility for high-purity sodium bicarbonate in Japan. The facility is equipped with advanced technology to meet the increasing demand for high-quality sodium bicarbonate in various industries, including pharmaceuticals and healthcare.
In September 2022, Novacap Group announced the acquisition of a sodium bicarbonate production site from Seqens in France. This acquisition expands Novacap’s production capacity and strengthens its position as a leading supplier of sodium bicarbonate in Europe, enabling it to better serve the growing customer base.
In July 2022, Brunner Mond Group announced plans to invest in a new sodium bicarbonate production plant in the United Kingdom. The new plant will utilize advanced technologies to enhance production efficiency and meet the increasing demand for sodium bicarbonate in various industries, such as pharmaceuticals, food, and agriculture.

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More Valuable Insights Available

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

To understand opportunities in the sodium bicarbonate market, the market is segmented on the basis of grade type (pharmaceutical grade, technical grade, food grade, and feed grade), by end-use (processed food, pharmaceuticals, personal care products, chemicals, agrochemicals & nutrients, detergent, fire extinguisher, leather & dyeing, and others), by form (powder, pellets, slurry, and liquid), across five major regions (North America, Latin America, Europe, Asia Pacific, and 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 ~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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