Market Research Blog – Page 1869 – New Product Development

High Performance Fluoropolymer Market Anticipated to Reach USD 8.9 Billion by 2034, Growing with a 5.5% CAGR | FMI Reports

The global market for high-performance fluoropolymers reached USD 4.9 billion in 2023 and is anticipated to grow to USD 8.9 billion by 2034, with a compound annual growth rate (CAGR) of 5.5% from 2024 to 2034. By 2024, the market is expected to reach USD 5.2 billion.

Industries such as electronics, automotive, and aerospace are driving the demand for high-performance fluoropolymers due to their emphasis on sustainability. These polymers are valued for their exceptional durability, chemical resistance, and thermal stability, which are crucial for producing environmentally friendly products. As companies strive to meet consumer expectations and comply with environmental regulations, the adoption of fluoropolymers continues to expand, fostering further market growth.

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There is a growing opportunity in the high-performance fluoropolymer market, particularly in emerging sectors like biotechnology, 3D printing, and renewable energy. These industries have specific requirements such as chemical inertness and high thermal stability, presenting significant opportunities for fluoropolymer manufacturers to innovate and diversify their product offerings.

Key Takeaways from the Market Analysis

The global high performance fluoropolymer market size reached US$ 4.9 billion in 2019.
From 2019 to 2023, the high performance fluoropolymer market experienced a CAGR of 5.9%.
Over the course of the projection period, the high performance fluoropolymer sector in the United States is expected to develop at a CAGR of 5.7%.
Through 2034, the global high performance fluoropolymer market is expected to employ PTFE extensively and grow at a 5.3% CAGR.
High performance fluoropolymer tubing will become more popular, with a 5.2% CAGR predicted through 2034.

“The growing need from end-use sectors including automotive, electronics, and healthcare, where these fluoropolymers are crucial for their outstanding qualities like chemical resistance, thermal stability, and reduced friction, is one factor propelling the global market for high-performance fluoropolymers”, – says FMI analyst.

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Competitive Landscape

Key players in the global high-performance fluoropolymer market are leading the way in innovation by creating innovative products that are customized to match industrial demands. Fluoropolymers with improved mechanical, chemical, and thermal stability are among these developments; they find use in a wide range of industries, including aerospace, automotive, electronics, and healthcare.

Eco-friendly fluoropolymer technologies, such as recycling techniques and bio-based substitutes, are being prioritized in order to solve sustainability issues and conform to changing environmental laws and customer demands.

In an effort to challenge established methods, startups in the high-performance fluoropolymer sector are developing novel compounds and production processes. Their goal is to compete with established companies in the market by carving out a position for themselves through the introduction of revolutionary fluoropolymer products that have sustainable characteristics and better performance properties.

Key Developments

In 2023, Daikin Air-conditioning India revealed plans to open its third production site in India. The new 75-acre facility is located in Sri City, Andhra Pradesh, and is well-positioned to meet the growing local and worldwide demand for Indian-made air conditioning goods.
Daikin India aims to solidify its position as the leading manufacturer and distributor of compressors, refrigeration, air conditioning equipment, and purification systems in India and beyond.

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Key Companies Profiled

The Chemours Company
Asahi Glass Co. Ltd.
Daikin Industries Ltd
The 3M Company
Dongyue Group Ltd.
Solvay S.A.
Gujrat Fluorochemicals Limited
Halopolymer OJSE.
Hubei Everflon Polymer Co. Ltd.
Saudi Basic Industries Corporation (SABIC)
Shanghai 3F New Materials Company Ltd

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the high performance fluoropolymer market, providing historical data for 2019 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the high performance fluoropolymer market, the market is segmented on the basis of product (PTFE, PFA/MFA, FEP, ETFE), Form (Tubing, Film & Membranes, Coating, Others), end use (transportation, medical, industrial processing, electrical & electronics, others), and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East & Africa)

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

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Forecasting the Liquor Confectionery Market to Reach USD 1,002.0 Million by 2033 with a Projected 5.0% CAGR

The liquor confectionery market is anticipated to reach USD 603.0 million in 2023 and is forecasted to grow to USD 1,002.0 million by 2033, driven by a substantial compound annual growth rate (CAGR) of 5.0% throughout the forecast period.

New product launches with different flavoured chocolates, candies and gums are anticipated to positively influence the growth of the market. For instance, Abtey has introduced a new range of products that are prepared from refined alcohol and ganache centres.

The four new variants of coulis including ganache and Cointreau jelly, ganache and rum jelly, mousse and kirsch jelly, and ganache and strawberry jelly. Such developments are expected to create opportunities for growth in the market.

Further, increasing demand for premium liquor chocolates for gifting purposes and for serving as desserts at social gatherings is anticipated to drive the market in the forthcoming years.

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In addition to this, due to growing preference for online retail, manufacturers are launching their products at online retail channels to gain a competitive edge. This has also resulted in high availability of liquor confectionery in various developing countries, thereby augmenting the growth in the market.

“Growing preference for premium liquor-based chocolates across the globe, along with surging demand for liquor cocktail gummies will continue steering the growth in the market over the forecast period,” says an FMI analyst.

Competitive Landscape

Leading players operating in the liquor confectionery market are investing in mergers, acquisitions, and collaborations to expand theior grographical footprint. They are also focusing on promotional strategies to advertise their products on social media channels to improve sales. Key Companies Profiled are:

Hershey’s
Ferrero SpA
Mondelez International
Toms Gruppen
Liqueur Fills
Abtey Chocolate Factory
Neuhaus
Mars
Brookside
Booz Drops

Latest Developments in the Liquor Confectionery Market

Ferrero, for example, signed a USD 2.8 million partnership in 2018 with Nestle’s US Company in the creation of spirits confectioneries. Furthermore, big confectionery makers like Barry Callebaut bought American Almond Products Co. in 2015, allowing the former to extend its product line even further in the coming years.
Mars, Inc. established a partnership with Microsoft Corp. in May 2021 to accelerate Mars’ digitalization by leveraging the Microsoft Azure platform to maximize intelligent manufacturing supply chains and operational speed.
Dot’s Pretzels and Pretzels Inc. were acquired by The Hershey Company in December 2021, bringing production capacity in-house and confirming Dot’s continued expansion and experience to drive snacking innovations in the coming years.
Ferrero announced in April 2022 the acquisition of Fulfil Nutrition’s high-protein, high-vitamin quality bar business, which has direct sales in the United Kingdom as well as distribution channels in Ireland and other markets of Asia Pacific and Europe.

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Key Segments Covered in the Liquor Confectionery Market Report

By Product Type:

Candies
Gums
Chocolates

By Distribution Channel:

Direct
Indirect
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Independent Retailers
- Online Retailers

By Region:

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

About Future Market Insights (FMI)

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

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Shea Butter Market Growth Forecast Steady Expansion to USD 5.58 Billion by 2033

As of 2023, the global shea butter market has achieved a substantial valuation of USD 2.75 billion, underscoring its strong growth trajectory. Projections indicate that the market will continue to expand steadily, with an anticipated compound annual growth rate CAGR of 7% from 2023 to 2033, ultimately reaching a noteworthy value of USD 5.58 billion by the conclusion of 2033.

The upward trend in the market is driven by growing consumer preference for natural and organic skincare solutions.

Recent consumer behavior shows a notable shift towards sustainable and eco-friendly options in personal care, boosting demand for shea butter. Recognized for its moisturizing, nourishing, and healing properties, shea butter continues to rise in popularity as a natural ingredient.

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To capitalize on this trend, key operators in the market, like Cargill, are introducing shea butter as a cocoa butter equivalent in the food industry. Various factors related to cocoa butter products, like uncertainty in supply, premium price, variability in quality, and other factors have increased the demand for shea butter.

On the back of this factor, the demand for shea butter is increasing due to the extensive use in several confectionery products, such as snacks, candy & jelly, toffees, chocolate, and others.

With the concept of premiumization including superior mouthful experience and a far-fetched quality of such end products, the global shea butter market will witness steady growth over the forecast period.

“Growing demand for shea butter as a healthy alternative ingredient to trans-fat products, is increasing with soaring market share. Due to higher availability of raw materials and reduced environment impact as a clean label product, key players are introducing raw shea butter form in cosmetic industry to gain revenue,” says a Future Market Insights analyst.

Competitive Landscape

Key manufacturers of shea butter are focusing on sustainable product developments and also looking for investing in state-of-the-art processing facilities to further help the industry growth.

BASF SE
Bunge Limited.
Croda International
Cargill, Inc.
Archer Daniels Midland Company
Wilmer International
International Oils & Fats Limited
Ghana Nuts Company Limited
Fuji Oil Holdings, Inc.
3F Industries Ltd.
Others

Recent Developments:

Shea Radiance, a renowned brand specializing in shea butter-based body care products, recently launched six new body care offerings. These products have made their debut in 520 Whole Foods stores across Virginia, United States. Expanding Shea Radiance’s reach and offering customers a luxurious and natural body care experience enriched with the nourishing benefits of shea butter.
Fuji Oil Holdings, Inc. announced the sourcing of responsible shea kernels with the policy of preserving green areas of shea trees with minimum or zero deforestation. To reinforce the sustainable development of the industry.
Unilever announced the acquisition of Sundial Brands, including Nubian Heritage and SheaMoisture. To take advantage of market expansion with financial advancement and diversify its ownership ranks.

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Shea Butter Market by Category

By Nature:

Organic
Conventional

By Grade:

Grade A (raw or unrefined)
Grade B (refined)
Grade C (highly refined)
Grade D (lowest uncontaminated grade)
Grade E (with contaminants)

By Application:

Food Processing
Cosmetics & Personal Care
Pharmaceuticals Industry
Others

By Region:

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

About Future Market Insights (FMI)

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

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Global Fish Sauce Market Grows at 6.0% CAGR to USD 31.6 Billion by 2033

The global fish sauce market is set to exceed USD 18.4 billion by 2023, with a projected surge at a notable compound annual growth rate (CAGR) of 6.0% until 2033, aiming to reach USD 31.6 billion.

The increasing demand for fish sauce is driven by a growing consumer preference for ethnic and spicy flavors. Additionally, a shift towards healthier and more natural eating habits is expected to further boost the market’s growth.

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Seafood is low in saturated fats, high in protein and nutrients such omega-3 fatty acids, vitamin A, and vitamin B. Regular seafood consumption has been shown to improve cardiovascular health and reduce the risk of heart attacks and strokes. Furthermore, consumers are willing to try new foods, which is boosting the demand for various flavored fish sauces, such as hot sauce and soy sauce.

On the production front, consistent nominal fish prices have resulted in increasing production of fish and fish sauce products. The major manufacturers of fish sauce will have lower production costs, allowing them to produce on a larger scale.

“Increasing inclination towards ethnic and exotic food, along with wide availability of a hufe variety of sauces and condiments at online retail channels is expected to broaden the scope of fish sauce applications over the assessment period,” says an FMI analyst.

Competitive Landscape

Leading fish sauce makers are attempting to expand their footprint across attractive pockets by introducing new products, developing strategic partnerships with existing players, and purchasing small-scale producers.

Red Boat
TANG SANG HA CO. Ltd
Masan Consumer Corporation
Thai Preeda Group
Nestle
Squid Brand
Teo Tak Seng Fish Sauce Factory Co., Ltd.
Rayong Fish Sauce
Pichai Fish Sauce
Halcyon Proteins
Hung Thanh

Developments in the Market:

In 2018, Nestle ventured into the market in Vietnam by launching their Maggi fish sauce. The company claims to make the sauce from natural products like black anchovy, Phu Quoc, and sea salt which are free of preservatives.
Chin-Su Yod Thong fish sauce was launched in the Thai market by Masan Group and its business partner, the Thai conglomerate Singha Group.
Unilever purchased a controlling stake in Nutrafol, a well-known supplier of hair wellness products, on May 30, 2022. Through Unilever Ventures, Unilever now owns a minority (13.2%) interest in Nutrafol.

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Fish Sauce Industry by Category

By Flavor:

Plain Fish Sauce
Spiced Fish Sauce

By Technology:

Traditional Method
Industrial Method

By Sales Channel:

Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
Online Sales Channel
- Company Website
- E-commerce Platform

By Region:

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

About Future Market Insights (FMI)

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

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Global Beer Market to Hit USD 1,679.5 Billion by 2033 | Future Market Insights Inc.

The global beer market is projected to achieve a valuation of USD 759.1 billion in 2023, anticipated to rise to approximately USD 1,679.5 billion by 2033. Significant growth is expected, with beer sales demonstrating a robust compound annual growth rate (CAGR) of 7.6% throughout the forecast period.

One of the key factors positively affecting the demand for beer globally is the rise in taste for premium alcoholic beverages due to the increasing trend of socializing and gatherings.

The market is further expanding as a result of distilleries using beer as a cocktail ingredient. Additionally, the growing custom of giving beer in personalized bottles is promoting market expansion.

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Through e-commerce channels, key players are introducing flavored beer in unique varieties like botanicals and fruits to cater to the growing millennial population. This is helping to boost the industry together with the expanding trend of buying beer through online distribution channels, which provide easy product availability, extensive catalogs, and quick shipping options.

The Dominant Market Players

The four leading players dominate the market by more than 50%, indicating that it is centralized. Consolidation is taking place as a result of these players acquiring smaller, independent regional brewers. Examples from the recent past include the establishment of Carlsberg Marston’s Joint Brewing Company in 2021, the acquisition of Greene King (at the time the leading independent brewer in the United Kingdom) by CK Asset Holdings in 2019, and the acquisition of Fuller’s by the Japanese brewer Asahi Group Holdings, Ltd.

Heineken N.V., Carlsberg A/S,United Breweries Holdings Limited, Devans Modern Breweries Ltd., Diageo PLC, Carlsberg India Pvt. Ltd., Anheuser-Busch InBev., B9 Beverages Pvt. Ltd., Crown Beers India Limited (AB InBev),Radico Khaitan Ltd., Beijing Enterprises Holdings Limited, Dogfish Head Craft Brewery, Inc., Squatters Pubs and Craft Beers, Sierra Nevada Brewing Co. and The Boston Beer Company, Inc.

Recent Developments

In September 2023, Pineville’s Middle James Brewing Company unveiled a new beer as part of its commitment to promoting mental health awareness. This initiative supports the Rosado family’s broader mission to raise awareness through the Matías Rosado Foundation.
In August 2023, Innis & Gunn, the brewery based in Edinburgh, introduced 12 Moons Lager. This fresh brew was bottled in August 2022 during a full moon and matured for a full year in 75 bottles. With a 5.8% alcohol content, this bottle-conditioned and unpasteurized lager marks the fourth addition to Innis & Gunn’s limited edition lineup for 2023.
In July 2023, the renowned Indian liquor brand Lone Wolf revealed its long-awaited beer offerings, Alpha and Mavrick. These remarkable beer varieties were introduced to the India alcohol market by Onkara Beverages & Hospitality Pvt Ltd, the parent company of Lone Wolf. This launch showcased a splendid blend of innovation and imagination aimed at offering consumers an extensive array of options to delight their palates.
In June 2023, Australia’s iconic beer, Victoria Bitter, presented Victoria Bitter Xtra. It is now available in 250ml bottles with an alcohol content of 6%, a step up from the classic VB’s 4.9%. VX utilizes the same ingredients and maintains the distinctive flavor cherished by Australians for generations, yet it offers a bolder and more intense taste than the classic VB.
In May 2023, Better Beer introduced an extensive range of premium, zero-sugar Arvo Ale. This Pacific Ale is crafted for effortless enjoyment and brims with vibrant tropical notes of passionfruit and citrus, achieved through the infusion of Galaxy and Vic Secret Hops.
In April 2023, Dogfish Head Craft Brewery introduced three new beer selections: the Utopias Barrel-Aged 120 Minute IPA, Mandarin & Mango Crush, and the Off-Centered Variety Pack. These distinct offerings are currently journeying across the United States, available from coast to coast.

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Key Segments Covered in the Beer Market Report

By Product Type:

Ale
Lager
Stouts
Others

By Packaging:

Can
Bottle
Glass
Others

By Production:

Macro-brewery
Microbrewery
Craft Brewery
Other

By Distribution Channel:

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

By Region:

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

About Future Market Insights (FMI)

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

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Global Spirits Market to Expand at a CAGR of Nearly 4%, Reaching USD 90,288.9 Million by 2033

The global spirits market value is estimated to be around USD 59,408 Million in 2023. Further, as per this market report, the market is projected to progress at a CAGR of 4% from 2023 to 2033. By following this moderate CAGR, the overall market value is projected to reach USD 90,288.9 Million by 2033.

One of the key reasons for the growth of the spirit industries or distilleries is the growing customer base for alcohol use. The overall consumption of different types of spirits, particularly among young people, has increased with the influence of Western cultures in emerging nations.

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In these years, a more developed distribution system used by alcohol producers such as online retailers, has boosted the sales of spirits globally. In addition to this, the expansion and emergence of new bars, restaurants, and hotels serving alcoholic beverages have also strengthened their market trend.

Craft spirits consumption has expanded over the past several years due to reasons including the rising popularity of premium alcoholic beverages among the younger generation. So, craft spirit distillers are also concentrating on creating novel products employing a variety of herbs, spices, botanicals, and fruits to diversify their product lines.

Key Takeaways:

The absolute increment of the overall market over the next ten years is anticipated to be US$ 30,881 Million.
The United States alone accounted for almost 32% of the total spirits consumed in the year 2022.
Germany follows the United States in sales and consumption of spirits and contributed to nearly 15% of the market revenue share in 2022.
The demand for spirits in the United Kingdom is higher than in any other country in Europe and could progress at a 6% CAGR through 2033.
The capacity for the production of spirits in China is higher than in other Asia Pacific countries and during the projected period it could register a CAGR of 6.5%.
India is another emerging country for both consumption and supply of spirits which is poised to progress at 4.6% CAR through 2033.
Japan was figured out to have contributed 1.2% in global sales of spirits in 2022 while the contribution of Australia was only 0.9%.
Among the different types of spirits, the whiskey segment dominates the overall market having a 28% revenue share in the year 2022.
Based on distribution channels, the indirect sales of spirit accrued revenue of 71% in 2022.

Competition Landscape

Diageo plc.
Pernod-Ricard SA
LVMH
Jose Cuervo
Patrón
Beam Suntory
Brown-Forman Corp.
Constellation Brands, Inc.
Remy Cointreau SA
Marnier Lapostolle SA
Belvedere SA
Berentzen-Gruppe AG.
William Grant & Sons
The Edrington Group
Kweichow Moutai Group
Wuliangye
Yanghe Brewery
Daohuaxiang
Luzhou Laojiao
Others

Recent Developments by the Spirits Industries

Chivas Brothers made a US$ 88 million investment in July 2022 for the expansion of its strategic single malt distilleries across Europe. To fulfill the rising demand for Scotch across the world, the money invested is expected to be used to upgrade sustainable distillation techniques. This higher investment by the company at its Speyside distilleries is also expected to significantly increase its production capacity.

Bacardi Limited in India introduced their Good Man Premium Brandy in February 2022. It was created with keeping the taste of domestic customers in mind. It is created mostly by combining grape brandies from France and India. Bacardi India’s product release into the brandy and Indian-made foreign liquor (IMFL) categories is considered to be premium blended brandy.

Diageo in India introduced the nation’s first-ever small-batch, artisanal craft whiskey completely made up of Whiskey in June 2021. It is the premiumization strategy of the company, which emphasizes brand refurbishment and innovation, and the brand value strengthened by this launch.

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Spirits by Category

By Product Type:

Vodka
Rum
Whiskey
Gin
Tequila
Other Spirits

By Category:

Mass
Premium

By Application:

Household
Commercial

By Distribution Channel:

Direct Sales Channels
Indirect Sales Channels
- Hypermarkets or Supermarkets
- Specialty Stores
- Independent Retailers
- Online Retailers

By Region:

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

About Future Market Insights (FMI)

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

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Cultivating Growth Vegan Yogurt Market’s Journey to USD 11.7 Billion by 2033 | Future Market Insights Inc.

The vegan yogurt market is anticipated to thrive at a steady CAGR of 5.8% between 2023 and 2033. The market is anticipated to cross a valuation of USD 11.7 billion by 2033, while it is valued at USD 6.7 billion in 2023.

The rising vegan movement all over the world is contributing to the higher production and sales of vegan consumables, such as yogurt and milk. These products are there to replace dairy products.

Vegan yogurt’s popularity with its health benefits provided by higher fiber, calcium, and protein levels is flourishing in its sales.

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A big chunk of the urban population that doesn’t follow a vegan diet also tries vegan Yogurt because of its taste and health benefits. Vegan yogurt is treated as a superfood that is provided in some urban settings.

A section of lactose intolerant people also consume vegan yogurt to fulfill their nutritional requirements, while not comprising their vegan diet.
Social media and internet trends around veganism are pushing the masses to try the vegan diet once. Furthermore, the exceptional campaigns and top-notch advertising has also helped the vegan yogurt companies in selling products.

Key Points

The United States market is another significant market. The market is anticipated to cross a value of US$ 803.6 million by 2033. The regional market is expected to thrive at a CAGR of 5.4% between 2023 and 2033. The growth is attributed to rising veganism and anti-diary movements.

The China vegan yogurt market leads in terms of CAGR and market share. It is expected to thrive at a leading CAGR of 6.9% during the forecast period. The market is likely to reach a value of US$ 5.6 billion by 2033. Growing demand for vegan products, along with the increased lactose intolerant population, is flourishing the sales of vegan yogurt in China

Almond yogurt is likely to thrive in the product category due to its easy availability and high nutritional value. It is expected to thrive at a CAGR of 6.6% during the forecast period.
The household segment tops the end-use category with a CAGR of 3.8% between 2023 and 2033. The growth is attributed to its benefits in the daily diet through increased consumption.

Competitive Landscape

The global vegan yogurt market is highly fragmented, and the leading players are launching high-quality, nutrient-dense products to the market. Furthermore, rising demand has prompted players to expand their production capacity, allowing them to cater to a wider range of tastes and preferences while maintaining nutritional value. Some recent developments include

Market Developments

Epigamia, an Indian startup, announced the debut of a dairy-free coconut milk-based yogurt variety that is unsweetened specifically to meet the needs of Indian consumers.
Danone has introduced its vegan yogurt under its essential dairy and plant-based products. The product is produced through almond milk and coconut milk.

Key Players

Stonyfield Farm, Inc.
KaTech
Epigamia
NANCY’S
Daiya Foods Inc
Kite Hill
Chobani, LLC
COYO Pty Ltd.

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Key Segments

By Product Type:

Soy Milk Yogurt
Coconut Milk Yogurt
Almond Milk Yogurt
Rice Milk Yogurt

By Flavor:

Chocolate
Strawberry
Banana
Pineapple
Mango
Lemonade
Peach

By End Use:

HORECA
Household

By Sales Channel:

Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
Online Sales Channel
- Company Website
- E-commerce Platform

By Region:

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

About Future Market Insights (FMI)

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

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Global Dried Eggs Market Set for 9% CAGR Through 2033 | Future Market Insights Inc.

The global dried eggs market is expected to experience remarkable growth from 2023 to 2033, with projections from Future Market Insights indicating a valuation surpassing USD 2,080 million in 2023 and anticipated growth to USD 4,719.6 million by 2033. This growth trajectory reflects a notable compound annual growth rate (CAGR) of 9% during the forecast period.

Several developing countries such as Argentina, Brazil, and India and making a significant shift from carbohydrate-based foods (rice, grains, and grains) to protein-based foods (fish, eggs, meat) with different consumption patterns. This factor alone has a significant impact on the food market and stimulates demand for eggs and egg-based products, driving the import and export of dried eggs worldwide.

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Key Takeaways

Egg allergy is known as the second most common food allergy among infants and young children. Various studies have shown that egg allergy is based on self-reported food allergies that tend to exaggerate prevalence. In addition to IgE-mediated allergies, egg proteins can also cause non-IgE-mediated and mixed Ige-mediated and non-IgE-mediated reactions. Atopic dermatitis and eosinophilic gastroenteropathy are two diseases that fall into this category.
This results in a negative impact on the market and also leads to a significant decrease in demand. Furthermore, high tariffs on imported consumer goods also heightened the price of eggs and egg products, making it difficult for consumers to purchase imported dried egg products from the market.

Egg whites are predicted to be dried in several ways including freeze-drying or hot air drying and can be stored at 2540°C for about 4 months. The gelling properties obtained during storage can result in higher protein morphology and better color in the final product.
Some of the common problems that have been associated with fresh eggs are ingestion, which is expected to cause salmonella bacteria, and secondly, food waste can occur due to the short shelf life. The high use of dried eggs in the food industry is because the product is pasteurized and can easily be substituted for fresh eggs at any time in any recipe by adding water or other food products. Alternatively, you can use it to add molds to cookie dough or make any type of custard.

Competitive Landscape

Key market players focus on the personalization of dry egg products without forgetting laws and regulations. Eggs have different regulations from country to country.

Key Companies Profiled are Interovo Egg Group BV, Sanovo Technology A/S, Agroholding Avangard, Kewpie Corporation, Rose Acre Farms, Rembrandt Enterprises, Michael Foods, Inc., Ballas Egg Products Corp., Henningsen Foods, Wulro BV

Recent Developments Observed by FMI:

In February 2022, Ovation Foods launched Eggsentials, the company’s new shelf-stable dried whole-egg bead. The new product was launched to add a nutrient boost to consumption.
In February 2022, Japan’s top-fifth largest egg producer, Ise-Suzuki Egg, entered India market. The company started operations beginning with the production of egg lakh eggs per month, scaling it every six months.

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Dried Eggs Market Segmentation

By Product Type:

Whole Eggs
Egg Whites
Egg Yolk

By End-use Application:

Food Processing Industry
- Bakery & Confectionery
- Creamy Sauces
- Ice cream and Frozen Desserts
- Mayonnaise
- Noodles & Pasta
- Salad Dressings
- Others
Food Service Providers
Retail/Households
- Convenience Stores
- Discount Stores
- Modern Trade
- Grocery Stores
- Online Retail
- Specialty Food/Sports Stores
- Wholesalers
- Other Sales Channels

By Region:

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

About Future Market Insights (FMI)

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

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Ready To Drink (RTD) Tea Market’s Surge to USD 72.9 Billion by 2033

The ready-to-drink (RTD) tea market is registering a valuation of USD 34.3 Billion in 2023 and is estimated to reach USD 72.9 Billion by 2033. The market is capturing a CAGR of 8% during the forecast period.

Growing Popularity of Green Tea:

People are fond of green tea, which is increasing the global market during the forecast period. The rising consumer awareness of health benefits and weight control with antioxidant properties is fueling the global market. Therefore, many consumers are adopting green tea into their daily routines.

The increasing demand for portable and convenient ready-to-eat drinks drives the global market. Consumers enjoy their cups of ready-to-drink tea with natural ingredients that promote sustainability and reduce toxicity. The changing consumer’s lifestyle, busy schedules, and easy-to-drink changing habits are increasing the adoption of ready-to-drink tea.

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Increasing demand for organic, natural, and various flavored ready-to-drink tea drives the global market. The manufacturers offer ready-to-drink green tea in various flavors, including herbs, fruits, and spices. According to taste and habit, consumers can find their preferred tea.

The growing awareness of healthy digestion, an active body, and better stamina, the demand for green tea is flourishing in the global market. Growing innovations, research and development activities, and promoting sustainability are advancing the global market.

Key Takeaways:

The ready-to-drink (RTD) tea market is predicted to register a CAGR of 8% with a valuation of US$ 72.9 Billion in 2033.
In the historical period, the market secured a valuation of US$ 33.0 Billion in 2022.
The United States is estimated to lead the global market by securing a share of 2.7% by 2033.
Germany is significantly growing the global market size by capturing a share of 4.9% during the forecast period.
With a share of 3.2%, Japan is anticipated to drive the global market during the forecast period.
Australia is projected to capture a share of 2.7% in the global market by 2033.

How Key Players are Advancing the Global Market?

Key players are advancing the global market through various steps such as:

Product Innovation: Key players focus on providing innovative and unique products that attract consumers’ requirements. These key players are introducing fresh flavor products such as herbs, spices, and tea products with natural ingredients with health benefits.
Marketing and Branding: Key players are expanding their business through marketing and branding their products on various channels. These channels include online platforms, retail shops, and social media campaigns. Through these, relevant audiences can connect quickly and increase their sales volume.
Packaging and Convenience: Key players invest in simple, convenient, attractive packaging. This packaging can preserve goods for long life without toxicity and harmful chemicals.
Focus on Wellness and Health: With rising consumer demand for healthy drinks and ready-to-drink, key players develop functional ingredients. These functional ingredients include vitamins, antioxidants, and adaptogens, advancing market growth.

Recent Developments:

Coca-Cola is a significant company that offers ready-to-drink tea. Recently, the company launched Gold Peak, Honest Tea, and Fuze Tea to expand its business portfolio.
Arizona Beverage Company launched its new ready-to-drink tea, Arnold Palmer Half & Half. The company expands its business portfolio through online platforms and distribution channels.

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Market by Categorization:

By Product Types:

Herbal
Black tea
Green tea
Others

By Sales Channel:

Direct Sales
Indirect Sales

By Region:

North America
Europe
Latin America
Asia Pacific
Middle East Africa

About Future Market Insights (FMI)

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

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Forecasting the Expansion of the Duckweed Protein Market to USD 205.8 Million by 2033

The global market for duckweed protein is expected to achieve a valuation of USD 87.7 million by 2023, with an anticipated CAGR of 8.9% from 2023 to 2033. By the conclusion of 2033, total sales of duckweed protein are projected to reach USD 205.8 million.

Health is a key motivator, encouraging people to switch to a plant-based diet. Consumers are willing to switch meat or dairy a few times a week for a broader variety of plant foods if a manufacturer offers a varied diet comprising a wide variety of fruits, vegetables, legumes, and pulses that has higher nutrition than meat.

Hence, the demand for duckweed protein is expected to increase over the forecast period. An increasing number of consumers want merchants and manufacturers to take the lead in expanding their product offerings and becoming more customer-focused. This initiative has been noticed, particularly in wealthy countries. The overall number of new product launches in the duckweed protein market.

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Labeling has become a significant component of this transition process, with producers promoting and labelling their products to make them appear more desirable and appealing to consumers.

“With growing consumption of plant-based protein and rising vegan trend, the demand for high protein food such as duckweed is accelerating across the globe.” said a lead analyst at FMI.

Who is winning?

Plant-based protein products are expected to see an increase in demand, especially from the fitness industry, according to Future Market Insights. Hence, key players are likely to enhance their manufacturing capacity and capabilities by embracing cutting-edge technologies.

Some of the leading companies offering duckweed protein are Parabel USA Inc., Pontus Water Lentils, Barentz B.V., Hinoman, Ltd, Plantible Foods, Inc. Lempro Inc., Seta Organics and others.

Recent Developments:

In October 2022, Viachem, Ltd, a specialty distributor of life science ingredients and specialty chemicals was acquired by Barentz International, a global life science ingredients distributor.
Recently, Plantible Foods closed its Series A round with US$ 21.5 million. The company also announced that it will soon be launching a new duckweed-based protein to meet growing end user demand.

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Global Duckweed Protein Industry Segmentation

By Forms:

Fresh
Dried

By Species:

Wolffiella
Spiro Dela
Lemna

By End Use:

Food processing
Animal and Fish feed
Others

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

Contact Us: