Future Prospects of the Global Frozen Snacks Market Predicted Valuation of USD 250,736.0 Million by 2033

The global frozen snacks market is expected to experience substantial growth from 2023 to 2033. As per Future Market Insights’ research report, the market is expected to exceed USD 136,981 million in 2023 and is forecasted to reach USD 250,736.0 million by 2033, expanding at a CAGR of 6% over the period.

Growth can be attributed to the convenience offered by these products. As consumers are trying to keep up with their busy schedules, they are preferring packaged food products and frozen snacks as they take less time to prepare. This trend will continue pushing sales in the market over the forecast period.

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As consumer awareness grows regarding the nutritional content of packaged and frozen food products, brands are increasingly fortifying their offerings with nutrients, vitamins, and minerals to meet rising demand. Consequently, sales are anticipated to accelerate significantly throughout the assessment period.

Key Takeaways:

  • By product type, sales in the desserts segment will account for around 2/5th of the total market share over the forecast period.
  • In terms of category, demand in the ready-to-eat frozen snacks segment will remain high through 2033.
  • Offline sales channels will be the most preferred sales channel among consumers over the assessment period.
  • France will dominate the Europe frozen snacks market owing to increasing demand for vegan frozen snacks and ready-to-eat meals.
  • China will account for a lion’s share of the East Asia frozen snacks market due to increasing sales of packaged food products through online channels
  • The U.S. will emerge as a lucrative market on the back of growing preference for vegan and clean-label frozen snacks.

Competitive Landscape

Leading players operating in the global market are investing in the research and development of products to incorporate nutritional values and increase their shelf life. They are also aiming to gain a competitive edge through strategic partnerships, mergers, and acquisitions allowing them to widen their reach and geographical footprint. The launch of new products and superior frozen snack items are among the organic strategies adopted by key players.

“Wide availability of vegan, gluten-free and keto frozen snacks, along with increasing sales through online channels across emerging economies will augment the growth in the market in the forthcoming years,” says an FMI analyst.

Recent Developments Observed by FMI:

  • In May 2023, Bikano, a manufacturer of packaged snacks and snacks, introduced a line of frozen snacks into the global market to increase export sales by 40% year over year. Bikano expects to reach Rs 200 crores in revenue in FY 23–24 as a result of this move as it looks to capitalize on prospects in the global market.
  • In April 2022, Cofresh Snack Foods, a snack company in India, expanded its product line by introducing exotic veggies and innovative frozen Indian snacks. The new line-up includes new products like Batata Vada and Aloo Tikki, which are made with potato and chickpea flour, as well as other well-known Indian street foods like Vegetable Kathi Roll, Tandoori Chilli Potato Kathi Roll, and hand-stretched Tandoori Garlic Naan.

Key Players Working in the Global Market for Frozen Snacks:

Nestle’

ConAgra Foods Inc.

Ajinomoto Co. Inc.

McCain Foods

The Kraft Heinz Co.

Cargill Incorporated

Tyson Foods Inc.

NewForrest Fingerfood BV

Rich Products Corp.

Nomad Foods Ltd.

Others

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Frozen Snacks Market Segmentation

By Product Type:

  • Desserts
  • Confectionery
  • Vegetable & Fruit Snacks
  • Bakery Products
  • Meat Based Snacks
  • Meat Substitute Snacks
  • Seafood Snacks
  • Other Products

By Category:

  • Ready to Eat
  • Ready to Cook
  • Others

By Sales Channel:

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

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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Trends in Non-Alcoholic Beer Market CAGR of 8% Leading to USD 45,019.5 Million by 2033

The non-alcoholic beer market is anticipated to achieve USD 21,345 million by 2023, with growth projected at a CAGR of 8% from 2023 to 2033, culminating in a market size of USD 45,019.5 million by 2033.

Increasing awareness regarding health concerns connected with alcohol consumption is spurring demand for non-alcoholic beverages. Driven by this, non-alcoholic beer is gaining immense popularity over traditional alcoholic drinks.

Wide availability of non-alcoholic beer at supermarkets is expected to augment the growth in the market. Discounted supermarket prices are garnering consumer attention and driving product demand through this sales channel in a number of locations.

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Apart from the health concerns, the millennial generation’s propensity to try different flavors in mixed brews and beverages is also fueling sales of non-alcoholic beers. Consumer interest in ethically and organically derived products is growing, which is anticipated to create opportunities for growth in the market.

Also, the emergence mindful drinking trend will provide impetus to sales in the market. Consumers who want to reduce alcohol consumption no longer have to compromise on taste because the overall quality of no-alcohol alternatives has improved over time.

“Increasing availability of non-alcoholic beers at online retail channels, along with growing interest in malt-grain based non-alcoholic beverages will drive sales in the market over the forecast period,” says the FMI analyst.

Competition Landscape

Leading players operating in the global non-alcoholic beer market are focusing on product innovation and strategic investments to improve sales. They are also investing in mergers, acquisitions, and collaborations to expand their global footprint.

For instance:

  • Carlsberg, a Danish brewer, and Marston’s, a British pub and cask ale company, announced a joint venture in May 2020. The new company supplies Carlsberg beers to Marston’s 1,400 United Kingdom pubs. As well as Carlsberg mass-market lagers and Marston’s cask ale brands including Hobgoblin and Pedigree.
  • Brooklyn Brewery, in December 2020, revealed its plan to enhance its non-alcoholic portfolio with the introduction of Special Effects IPA. Since craft brewers are seeking a 0%-ABV area, the buzz around low-alcohol beers has further been propelled. Thus, creating a beneficial outlook for the non-alcoholic beer industry in the estimated period.

Key Players in the Non-alcoholic Beer Industry

Big Drop Brewing Co.

Anheuser-Busch InBev

Heineken N.V.

Bernard Family Brewery Inc.

Moscow Brewing Company

Carlsberg A/S

Suntory Beer

Erdinger Weibbrau

Arpanoosh CO

Krombacher Braueri

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Non-alcoholic Beer Market by Category

By Product:

  • Alcohol-free
  • Low Alcohol

By Category:

  • Plain
  • Flavored

By Material:

  • Malted Grains
  • Hops
  • Yeasts
  • Enzymes
  • Others

By Sales Channel:

  • Convenience Stores
  • Liquor Stores
  • Supermarkets
  • Restaurants & Bars
  • Online Stores

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Yogurt Powder Sales Forecast: Reaching USD 642 Million by 2034, Fueled by Nutritional and Probiotic Advantages

The global yogurt powder market value is forecast to total USD 333.3 million in 2024 and USD 642 million by 2034. Global demand for yogurt powder is anticipated to increase at a CAGR of 6.8% during the forecast period.

Sales remain particularly high for regular yogurt powder owing to its high nutritional content. The target segment accounted for a revenue share of 46% in 2023 and is set to experience robust growth through 2034.

Several factors are expected to stimulate the growth of the yogurt powder market during the assessment period. These include changing dietary preferences, growing demand for healthy and convenient snack options, and rising health and wellness trends.

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Yogurt powder is gaining wider popularity, both among manufacturers and consumers, due to its convenience and longer shelf life. This, in turn, is set to play a key role in boosting market growth during the assessment period.

Increasing health and wellness trends are having a positive impact on yogurt powder sales globally. Consumers are showing interest in yogurt and yogurt-based products due to high nutritional content and potential health benefits.

Another prominent factor boosting sales growth is the escalating demand for functional foods. Today, consumers are constantly seeking functional foods that offer multiple health benefits. Yogurt power, fortified with probiotics and other essential nutrients, caters to this demand.

How is Increasing Awareness about Health Enabling Yogurt Powder Sales?

Consumers around the world have become increasingly aware about health and wellness. This has remain one of the chief drivers of the yogurt powder market. The probiotic nature of yogurt powder is considered good for digestive system and overall health. This has resulted in its increasing application in the food and beverages processing industry.

Yogurt powder is considered a high source of potassium, vitamin D phosphorous, protein, and calcium. Certain studies have even stressed on its role in the prevention of osteoarthritis. As per the International Osteoporosis Foundation (IOF), approximately 2oo million people around the world are affected by this condition. In fact, nearly 30% of premenopausal women in the United States and Europe often complaints of osteoarthritis

Key Takeaways from Market Report:

  • The global market is forecast to reach USD 642 million by 2034, registering a 6.8% CAGR.
  • Based on type, the regular segment is set to record a CAGR of 6.6% through 2034.
  • By flavor, the plain segment dominated the industry with a share of 63% in 2023.
  • Western Europe’s yogurt powder market is expected to reach US$232 Million by 2033, growing at a steady 7.8% CAGR from 2023’s US$110 Million market
  • China will likely record a CAGR of 7.4% between 2024 and 2034.
  • Yogurt Powder Japan Market expected to hit worth US$ 11.3 million at CAGR of 8% during forecast period 2023 to 2033
  • Sales in the United States are projected to total USD 114.2 million by 2034.
  • Yogurt Powder Korea Market expected to hit worth of US$ 24.3 million at CAGR of 8% during forecast period of 2023 to 2033

“Increasing consumer awareness about the potential health benefits of yogurt and yogurt-based products globally is anticipated to create growth opportunities for the yogurt powder industry during the assessment period.” says Nandini Roy Choudhury, Client Partner at Future Market Insights.

Who is Winning?

The yogurt powder industry has a diverse and dynamic competitive landscape, with leading players like Nestle S.A., Danone S.A., General Mills, Inc., and Lactalis Group holding significant shares.

Top players are constantly innovating to create new varieties added with functional ingredients like vitamins, probiotics, and minerals. Plant-based yogurt powders are gaining momentum in the market amid soaring demand from vegans.

The ongoing clean label trend is prompting companies to shift from artificial flavors and preservatives toward natural ingredients. Similarly, strategies like acquisitions, mergers, partnerships, new facility establishments, and joint ventures are becoming prevalent.

Leading Yogurt Powder Brands

  • Nestlé S.A.
  • Danone S.A.
  • General Mills, Inc.
  • Yakult Honsha Co., Ltd.
  • FrieslandCampina N.V.
  • The Kraft Heinz Company
  • Lactalis Group
  • Kerry Group plc
  • Morinaga Milk Industry Co., Ltd.
  • Chr. Hansen Holding A/S
  • Chobani, LLC

Industry Updates:

  • In December 2023, Ireland-based Kerry Group announced the acquisition of Lactase Enzymes Business from Novozymes A/S and Chr. Hansen Holding A/S.
  • Lactalis Ingredients, a prominent France-based producer and supplier of dairy ingredients, announced its participation in Africa Food Manufacturing event held in Cairo between 26 and 28 May 2024.

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Key Segments of the Market Report

By Type:

In terms of type, the industry is segmented into regular, low-fat, and non-fat.

By Flavor:

Based on flavor, the market is categorized into plain and flavored.

By Packaging Type:

Yogurt powder comes in sachets/pouches, cans/jars, and bulk packaging.

By Application:

In terms of application, the report is divided into food and beverage industry, nutraceuticals and dietary supplements, and cosmetics and personal care products.

By Distribution Channel:

Different sales channels include supermarkets and hypermarkets, convenience stores, online retailing, specialty stores, and others.

By Region:

Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.

About Future Market Insights (FMI)

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

Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The Rise of Processed Superfruits: Health Benefits Fuel USD 202.3 Billion Projection by 2034

The processed superfruit market is expected to reach a size of USD 134.8 billion by 2024, driven by heightened consumer awareness of the health benefits associated with superfruits, including antioxidants, vitamins, and minerals. This awareness is a key factor fueling the rising demand for processed superfruit products.

The adoption of processed superfruit products is forecasted to grow at CAGR of 4.1% through 2034. This expansion is propelled by a consumer shift towards natural and organic products, as preferences lean towards options with fewer additives, preservatives, and artificial ingredients.

By 2034, the processed superfruit industry is expected to surpass USD 202.3 billion. Companies are utilizing diverse distribution channels such as supermarkets, health food stores, online platforms, and specialty retailers to ensure convenient access to processed superfruit products for consumers.

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Superfruits are used for juices that have higher nutritional value than any other juices. According to the definition by Food and Agriculture Organization (FAO), superfruits have great nutritious content and an extra nutritional benefit. Antioxidant capacity is among the most widely recognized biologically active traits of a superfruit.

Key Takeaways

  • The global processed superfruits market is anticipated to witness robust growth driven by the surging demand for antioxidant-rich superfruits. Consumers are drastically preferring natural food products including processed fruits along with it a higher demand for ready-to-eat (RTE) foods and ready-to-drink (RTP) beverages is also witnessed which is expected to bolster growth in the market. The value of natural foods such as food color and flavor, in addition to several other dietary and functional uses, sums up the growth of the global processed superfruits market.
  • One of the major restraining factors is high processing, management, and preservation costs and the incongruency of superfruits flavor is likely to limit the further development of the global processed superfruits market over the forecast period.

Competitive Landscape

The global market for processed superfruits is known to be fragmented and fiercely competitive owing to the presence of several local and regional rivals. Prominent market players are focusing on employing an array of marketing strategies such as partnerships, expansions, mergers and acquisitions, and collaborations.

Recent Developments in the Processed Superfruit Industry

  • Symrise partnered with a leading organic superfruit supplier in South America. This collaboration aims to ensure responsible sourcing practices and ethical labor standards.
  • SunOpta launched a new smoothie line featuring a blend of superfruits and plant-based milk alternatives. This move aligns with the rising demand for vegan and dairy-free options.
  • Kerry Group also launched a new range of natural flavorings that incorporate superfruits. These flavorings cater to the growing demand for unique and exotic flavor profiles in food and beverage applications.

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Key Companies in the Market

  • Symrise AG
  • SunOpta Inc.
  • Kerry Group plc
  • Agrana Beteiligungs-AG
  • Del Monte Pacific Limited
  • Ocean Spray Cranberry Inc.
  • PepsiCo Inc.
  • Dabur India Ltd.
  • Uren Food Group Limited
  • Frutarom Industries Ltd.

Key Coverage in the Processed Superfruit Industry Report

  • Processed Super Fruits Market Analysis
  • Demand Outlook of Processed Superfruits in Europe
  • Fresh Fruit Market Outlook
  • Processed Superfruits Market Strategy
  • Processed Superfruit Companies

Key Segments

By Product Type:

  • Acai
  • Avocado
  • Blueberry
  • Blackberries
  • Camu Camu
  • Cherries
  • Coconut
  • Copoazu
  • Cranberry
  • Dragon fruit
  • Figs
  • Goji berry
  • Jackfruit
  • Kiwi
  • Kumquats
  • Mangosteen
  • Passion fruit
  • Pomegranate
  • Raspberry
  • Soursop
  • Strawberry

By End Use:

  • Food Industry
  • Bakery
  • Confectionery
  • Breakfast Cereals
  • Snacks
  • Baby Food
  • Dairy Products
  • Jams & Jellies
  • Powder Premixes
  • Beverages
  • RTD Juices
  • Energy Drinks
  • Functional Water
  • Carbonated Beverages
  • Sorbets and Smoothies
  • Probiotic Drinks
  • Retail (Household)

By Nature:

  • Organic
  • Natural
  • Conventional

By Form:

  • Liquid
  • Frozen
  • Powder
  • Canned
  • Dried
  • Pulp & Puree

By Sales Channel:

  • HoReCa
  • Retail Sales
  • Hypermarkets/ Supermarkets
  • Discount Stores
  • Wholesale Stores
  • Grocery Stores
  • Specialty food Stores
  • Online Retail
  • Others

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Surging Demand in Industrial and Pharmaceutical Sectors Boosts Methane Sulfonic Acid Market

According to Future Market Insight, the global methane sulfonic acid market is likely to reach US$ 1,215.6 million by 2033, registering a CAGR of 4.6%. This is a considerable increase from its projected value of US$ 775 million in 2023.

Methane sulfonic acid is extensively used in the electroplating industry for metal surface treatment. It is utilized as an electrolyte additive in electroplating baths. It improves the plating efficiency and quality of metal coatings. The increasing demand for metal finishing and surface treatment in the automotive, aerospace, and electronics industries drives the demand for methane sulfonic acid.

The usage of methane sulfonic acid for surface cleaning of tiles, ceramics, and porcelains is increasing. It is also included in scale and rust removers. This increased usage plays a crucial role in driving market revenue growth. In addition, the global popularity of lead-acid and zinc cerium flow batteries is contributing significantly to market growth.

There is a growing demand for the product in the pharmaceutical/medical, technical, and fabrication sectors. The increasing demand for methane sulfonic acid can be attributed to the adoption of environmentally friendly alternatives. These alternatives are being used in place of commercially used electrolytes in batteries. The growing concerns for the environment and sustainability drive this shift. As a result, the global market is anticipated to continue its growth trajectory.

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Multiple unfavorable factors impede market growth. Strict government regulations in many countries pose a challenge to the commercialization of methane sulfonic acid in the market. Additionally, manufacturers are required to meet various certifications, which further contributes to potential delays. This creates a significant obstacle that hampers market growth. Furthermore, the rising costs of methane sulfonic acid may pose an additional hindrance to market expansion.

The global demand for methane sulfonic acid is increasing in the pharmaceutical and medical industries. This trend is likely to open up lucrative opportunities for both established companies and new entrants in the market. Companies also highlight the diverse applications of methane sulfonic acid in various industries. Furthermore, the fabrication industry’s high demand for the product is anticipated to drive market growth during the forecast period.

Methane sulfonic acid has been investigated as an electrolyte component in energy storage devices such as batteries and supercapacitors. Its unique properties make it a potential alternative to traditional electrolytes. As the demand for energy storage solutions grows, methane sulfonic acid could play a role in this evolving market. This is particularly prevalent in renewable energy systems and electric vehicles.

Methane sulfonic acid is widely used as a catalyst and acidifier in chemical manufacturing processes. It can be employed in the production of pharmaceuticals, agrochemicals, dyes, pigments, and other specialty chemicals. The growing demand for these chemicals in various industries is expected to present significant market opportunities.

Key Takeaways from the Methane Sulfonic Acid Market:

  • The methane sulfonic acid industry in the United Kingdom is anticipated to rise, exhibiting a CAGR of 3.1% through 2033
  • The United States held a 20.8% share of the global methane sulfonic acid industry in 2022
  • With a CAGR of 6.4% over the forecast period, India is predicted to develop rapidly in the methane sulfonic acid industry
  • In 2022, Japan had a 6.3% share of the methane sulfonic acid industry globally
  • The methane sulfonic acid industry in China is expected to increase, registering a CAGR of 5.8% over the forecast period
  • Germany accounted for 5.9% of the global methane sulfonic acid industry in 2022

Competitive Landscape in the Methane Sulfonic Acid Market

Key market participants implement diverse approaches to sustain their market positions and expand their presence worldwide. These approaches comprehend:

  • Expanding production capacities to meet growing demand
  • Investing in research and development for improved production processes and product quality
  • Emphasizing sustainability and eco-friendly methods
  • Forming strategic partnerships and collaborations
  • Implementing effective marketing and branding strategies
  • Providing customized solutions and technical support
  • Exploring new applications and markets
  • Monitoring market trends and adapting accordingly
  • Ensuring reliable supply chains
  • Prioritizing customer satisfaction with excellent service

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Recent Developments by Key Players in the Methane Sulfonic Acid Market

In January 2020, BASF unveiled its plan to expand global capacities for methane sulfonic acid to reach 50,000 metric tons per year. The expansion primarily aims to cater to European customers. Additionally, it seeks to serve the swiftly expanding Asia methane sulfonic acid market.

In August 2021, Hydrite Chemical Co. revealed plans to expand production of ATS=™/Thio 25-17™. The expansion is going to take place at Hydrite Chemical Co.’s Terre Haute, IN facility. The capital expenditure is allocated for the installation of an additional sulfur burner and thiosulfate production line. The expanded capacity is anticipated to be operational by the spring of 2023.

Methane Sulfonic Acid Market by Category

By Grade:

  • Industrial grade Methane Sulfonic Acid
  • Pharmaceutical grade Methane Sulfonic Acid

By Product Form:

  • Solid Methane Sulfonic Acid
  • Liquid Methane Sulfonic Acid

By Application:

  • Electroplating
  • Pharmaceuticals
  • Chemical Synthesis
  • Biodiesel Production
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and the 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 over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Surging Demand in Automotive and Medical Sectors Boosts Laminating Adhesives Market to US$ 6.2 billion by 2033

The laminating adhesive market will likely reach an estimated US$ 3.5 billion in 2023. The global laminating adhesives market is projected to amass a revenue of US$ 6.2 billion by 2033, with sales growing at a restored and positive CAGR of 6.1% from 2023 to 2033. Historically, the target market recorded an average CAGR of 4.7 % from 2017 to 2022.

The estimated growth for the forecast period can be attributed to heightened demand from various end-use sectors like packaging, healthcare, food and beverages, manufacturing, and pharmaceuticals, among others. The packaging industry, particularly, generates a strong demand for laminating adhesives. Lamination adhesive is an essential part of the manufacturing process of flexible packaging goods.

The rising awareness of the advantages of flexible packaging such as its lightweight aspect, easier handling, less space requirement, smoother transportation, extended shelf life, protection from damage, and improved printability further promotes the demand for flexible packaging which, in turn, has a positive impact on the laminating adhesive market.

Since packing is one of the important factors that manufacturing enterprises take into consideration before venturing into the production process, the market for laminating adhesives looks at positive growth in the forthcoming years.

In the past few years, more and more businesses in the manufacturing and industrial sectors have been opting for flexible packaging which is transforming the structure of the packing sector. Thus, flexible packaging is taking over the rigid packaging sub-sector.

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This augurs well for laminating adhesives as they are eco-friendly, durable, and also come in solvent-free varieties. Hence, the expansion of the flexible packaging sector and rising demand for eco-friendly adhesives act as primary growth drivers for the laminating adhesive market.

Moreover, immense demand for laminating adhesives from food and beverage packaging, medical packaging, and expansive use of the product across various industries like industrial, automotive, and transportation sectors will underpin the growth of the laminating adhesive market during the projection period.

Key Takeaways:

  • Water-based laminating adhesives will gain rapid traction over the next couple of years owing to the implementation of strict environmental regulations and the high demand for miniaturized electronic products.
  • The growing consumption of packaged food will fuel the use of laminating adhesives in the food packaging sector.
  • The laminating adhesives market in the US will reach a value of US$ 729.9 million by 2033.
  • Asia Pacific will emerge as an opportunistic pocket for the laminating adhesive market owing to surging manufacturing activity in China, Japan, and India.

Competitive Landscape 

3M Company, Coim Group, H.B. Fuller Company, Ashland Global Specialty Chemicals Inc., Evonik Industries AG, Flint Group, Henkel AG & Co. KGaA, L.D. Davis Industries Inc., and Sika AG, among others, are some of the key players in the laminating adhesives market profiled in the full version of the report.

Significant market players are focusing on product development and the launch of new products. These firms also engage in various organic and inorganic business strategies to gain a competitive edge.

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More Insights into the Laminating Adhesives Market 

FMI offers the latest, detailed, and unbiased analysis of the global laminating adhesives market, providing historical data from 2017 to 2022 and forecast statistics for 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type, application, and region.

According to the reports, based on segmentation, the water-based laminating adhesives will grow at 6.0% between 2023 and 2033. This growth is due to more and more manufacturers shifting to water-based technology across multiple sectors like food, construction, electronics, and many others. In terms of application, the packaged food sector will lead the market with a growth rate of 4.6% during this assessment period.

Based on region, the laminating adhesive market in Asia Pacific will exhibit strong growth. It is estimated that the Asia Pacific will lead the global laminating adhesives market. Increasing manufacturing activities in China, India, and Japan aid the growth of the regional laminating adhesives market.

The food and beverages, construction, and electronics industries in these countries will generate high demand for the market. Hence, the laminating adhesives market in Asia Pacific will dominate the international marketplace and contribute substantially to the overall market growth.

Key Segments Covered in the Report

By Product Type:

  • Solvent-based
  • Water-based

By Application:

  • Food Packaging
  • Medical Packaging
  • Industrial Packaging
  • Other End-use

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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Rising Demand from Petrochemicals and Turbine Manufacturers Fuels N-Methyl Pyrrolidone Market Growth

Heightened demand for NMP from the automotive industry to meet the electronic input demand in vehicles is expected to propel product sales. Besides, the rise in industrialization, in addition to the increasing demand for NMP as a drug solubilizer in the pharmaceutical industry is facilitating the market growth.

The global n-methyl pyrrolidone industry is forecast to expand at 4.6% CAGR over the forecast period, as per FMI’s analysis. The industry’s size is predicted to surge from US$ 979.9 million in 2023 to US$ 1,536.4 million by 2033.

Extensive growth in the petrochemical industry is projected to catalyze the demand for NMP in the next decade. In addition, the demand for chemicals from the electronic industry is also forecasted to escalate.

The electronic industry is flourishing on account of the surging production of consumer electronic products. Surging discretionary income of consumers owing to economic growth is also projected to accelerate the N-methyl pyrrolidone industry.

Manufacturers producing N-methyl pyrrolidone must concentrate on electronic grade N-methyl pyrrolidone, which is deployed in lithium-ion batteries. This is projected to enhance their revenue streams and is likely to tap into key opportunities over the predicted time frame.

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The market is, however, fraught with difficulties, resulting from the elimination of the chemical from the production process due to its toxicity. For instance, in 2023, Leclanché developed low-cobalt Li-ion cells having 20% extra energy density. To make this, the company eliminates the utilization of N-methyl pyrrolidone as a solvent.

Top Highlights from the FMI’s Analysis of the N-methyl Pyrrolidone Industry:

  • The N-methyl pyrrolidone (NMP) industry in the United States is estimated to account for 19.8% market share in 2023.
  • In the Europe region, Germany and the United Kingdom are key markets for N-methyl pyrrolidone (NMP). Germany’s market is estimated to account for 4.2% market in 2023. Based on CAGR, the United Kingdom is anticipated to register a 2.9% CAGR over the estimated period.
  • Asia Pacific region is predicted to showcase a healthy growth rate. For instance, India and China are forecasted to expand at 6.5% and 5.9% CAGR, respectively, over this decade.
  • Based on grade, the standard segment is projected to account for 49.2% market share in 2023.
  • In the application category, petrochemical processing is expected to account for 14.1% of the market share.

Key Developments Taking Place in the N-methyl Pyrrolidone Market

  • In December 2020, BASF SE officially declared that the company is set to increase the prices of N-methyl pyrrolidone. The price change was announced for North America and Europe region. It came into effect from the 1st of January, 2021, or as per the existing contracts permit.
  • In late 2020, Tesla’s CEO Elon Musk announced cutting down the costs of the extremely costly part of an EV by developing in-house batteries. The company faces a long process of enhancing its battery factory. This is further complicated by new plans to deploy innovative manufacturing technology known as dry electrode coating. This technique eventually lessens the mixing step and slurry preparation. It further reduces the drying period, and discards the toxic volatile fumes generated from N-methyl pyrrolidone, recycling systems, and solvent recovery.

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Key Companies Profiled

  • BASF SE
  • LyondellBasell Industries NV
  • Ashland Inc.
  • Eastman Chemical Company
  • Balaji Amines
  • Mitsubishi Chemical Corporation
  • Hefei TNJ Chemical Industry Co. Ltd.
  • Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd.
  • Zhejiang Realsun Chemical Co. Ltd.
  • Puyang Guangming Chemicals Co. Ltd.
  • Binzhou Yuneng Chemical Co. Ltd.
  • Binzhou City Zhanhua District Ruian Chemical Co. Ltd.
  • Hefei Tengchao Chemical Material Co. Ltd.
  • Shanghai Poochun Industry Co. Ltd.

N-methyl Pyrrolidone (NMP) Market by Category

NMP Industry by Grade:

  • Standard
  • Electronics
  • Pharmaceutical
  • Others

N-methyl Pyrrolidone (NMP) Market by Application:

  • Petrochemical Processing
  • Paints & Coatings
  • Industrial Cleaners
  • Electronics
  • Agrochemicals
  • Pharmaceuticals
  • Others

NMP Industry by Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • 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.

Contact Us:       

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Rising Demand for Acoustic Insulation Across Industries to Drive Market to USD 26,550.8 million by 2033

The global acoustic insulation industry is forecast to expand at 5.8% CAGR over the estimated time period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 15,061.4 million in 2023. 

The acoustic insulation industry is maneuvering on account of surging consumer interest in acoustic insulation, for residential and commercial purposes. The commercial buildings incorporate retail, offices, cinema, and other leisure outlets to conduct operations of companies. Acoustic insulation materials are widely used in floors, waste-water pipes, walls, ceilings, plant rooms, etc.  

Commercial buildings follow specific guidelines to prevent internal noise, external noise intrusion, and noise from building services. Nonetheless, the kind of insulation required in commercial buildings differs on the basis of the building structure and its requirements. Commercial construction has been expanding at a substantial pace in the Asia Pacific and the Middle East and Africa.  

The market growth may be stalled by oscillating prices of acoustic insulation’s raw materials. Another hindrance to the market is the high capital cost and low awareness of acoustic insulation in emerging economies.  

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These regions are observing high foreign and domestic investments to establish industrial units, multiplexes, malls, hospitals, the IT sector, and the hospitality industry. The Asia Pacific is a lucrative market for foreign companies. This can be attributed to the strong economic performance of economies like Indonesia, China, India, etc. Additionally, Middle Eastern countries are expected to witness growth on account of developing tourism and other non-oil sectors in the region. Thus, fueling commercial construction activities in the Middle East and Africa.  

Top Highlights from the FMI’s Analysis of Acoustic Insulation Market:   

  • The North America acoustic insulation industry is projected to acquire more than 28.1% market share in 2023. The United States acoustic insulation industry leads the regional market as well as the global space. 
  • The Europe acoustic insulation industry gained a 20.8% value share in 2022. The German acoustic insulation industry procured a 9.1% market share in 2022. 
  • The United Kingdom’s acoustic insulation industry is expected to expand at a 4.1% CAGR from 2023 to 2033.  
  • The Japan acoustic insulation industry is projected to gain more than 6.5% market share in 2023.  
  • The India acoustic insulation industry is projected to register 6.5% CAGR and China is anticipated to register 4.1% CAGR over the forecast period. 
  • Based on type, foamed plastic is anticipated to acquire more than 25.4% value share in 2023. 
  • On the basis of the end-use industry, the transportation segment is expected to garner more than 28.4% market share in 2023.  

Innovation Watch: Key Developments in the Market 

  • Insultech, LLC declared that it has completed the expansion of its plant, situated in Yuma, the United States, in July 2020. The company efficiently doubled its manufacturing area at the site. This site is dedicated to producing foil-covered insulation blankets for transportation, industrial, and aerospace applications. 
  • 3M expanded its manufacturing unit in August 2019 at the Latkrabang Industrial Estate of Thailand. The unit is set to develop Thinsulate acoustic insulation material at a large scale to cater to the increasing demand from the Asia Pacific region.  
  • Saint-Gobain procured Pritex, which is a leading player, offering thermal and acoustic insulation solutions, in May 2019. The solution is composed of polymer-based composite materials, made for the mobility market. 

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Key Segments Covered in the Acoustic Insulation Market Survey

By Type:

  • Glass Wool
  • Rock Wool
  • Foamed Plastic
  • Elastomeric Foam

By End Use Industry:

  • Building and Construction
  • Transportation
  • Oil & Gas and Petrochemicals
  • Energy & Utilities
  • Industrial & OEM

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Middle East & Africa
  • Latin America

About Future Market Insights (FMI)

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

Contact Us:       

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Rapid Growth in Polymerization Initiator Market Driven by Fast-Curing Resins and Eco-Friendly Solutions

The global polymerization initiators industry is projected to reach a valuation of US$ 1.3 Billion in 2022, with sales growing at a 4.9% CAGR during the forecast period. Against this backdrop, the polymerization initiators market size will reach US$ 2.1 Billion by 2032.

As per FMI, East Asia is expected to dominate the global polymerization initiators market over the forecast period due to the extensive usage of polymerization initiators in the manufacturing sector in China.  The polymerization initiators market in East Asia is projected to top US$ 759.6 Million by 2032.

Although peroxide is in high demand, sales of persulfate are expected to gain traction during the forecast period owing to its extensive usage in the manufacturing of polymers. The quantity and type of initiators are determined by the type of monomers and the applications in which they will be used.

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These initiators are used in radical polymerization to control heat or light initiation. Polyethylene, polypropylene, and PVC are common plastics used in a variety of end-use industries. The growth in the initiators market will be aided by increasing demand for these plastics.

“Increasing usage of polymerization initiators in the healthcare sector for the formulation of drugs such as benzoyl peroxide, along with surging demand for plastics such as polyethylene, polypropylene, PVC will augment the growth in the market,” says and FMI analyst.  

Key Takeaways:

  • Based on type, the peroxide segment is projected to hold approximately 44% of the total market share in 2022.
  • In terms of applications, total demand in the polyethylene segment is forecast to reach US$ 610.3 Mn by 2032.
  • The azo compounds segment is anticipated to grow at a 5% CAGR through 2032.
  • India is expected to lead the South Asia polymerization initiators market due to increasing utilization in the healthcare and automotive sectors.
  • China is expected to account for 77% of the East Asia polymerization initiators market share in 2022.
  • East Asia will emerge as an attractive market, creating an incremental dollar opportunity of US$ 308.2 Mn during the forecast period.

Competitive Landscape         

Key market participants of the polymerization initiators market elaborated in the report include

  • Arkema
  • United Initiators
  • Nouryon
  • LANXESS
  • Adeka Corporation
  • Fujifilm Wako Pure Chemicals Corporation
  • Chemorous
  • Otsuka Chemical Co Ltd
  • PAT Impex India
  • Jinan Qinmu Fine Chemical Co., Ltd.

Key market players are investing in mergers and acquisitions to expand their production strategies and improve sales.

For instance:

  • In 2019, United Initiators announced that its Sodium Persulfate plant would be operational with commercial sales in Huaibei, China. This expansion will help in serving the client base of China & Rest of Asia Pacific in the coming years.

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More Insights into the Global Polymerization Initiators Market Report

In its latest report, FMI offers an unbiased analysis of the global polymerization initiators market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, growth, and scope, the market is segmented based on type, application & by region ( North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

Polymerization Initiators Market by Category

By Type:

  • Peroxide
  • Persulfate
  • Azo Compounds
  • Others

By Application:

  • Polyethylene
  • Polypropylene
  • PVC
  • Polystyrene
  • ABS
  • Others

About Future Market Insights (FMI)

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

Contact Us:       

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Neon Gas Market to Reach US$ 439.1 Million by 2032 Driven by Rising Demand in Laser Applications

The global demand for the neon gas market is expected to increase at a 7% CAGR, reaching US$ 222.9 Million in 2022. Increasing applications in semiconductors and lighting sectors will continue boosting the market, pushing the market size to US$ 439.1 Million by 2032.

Growing adoption of neon gas in lasers for various applications including healthcare, sensors, and defense is expected to propel the sales of neon gas over the forecast period.  Neon gas is primarily used in the production of lasers along with other gasses.

The lasers segment is expected to account for more than three-fourths of the neon gas produced globally. Growing usage of lasers in the production of various devices including sensors, lighting technologies, and defense equipment is expected to contribute to the growth of the market in the forthcoming years.

Ukraine is one of the largest suppliers of neon gas across the globe. The country is anticipated to cater to more than 70% of the global demand for neon gas with its abundant reserves.

However, the ongoing invasion of Russia over Ukraine has affected to production and supply chain.   This has resulted in a shortage in the supply of neon gas which has increased its prices to an extent.

In response to this, manufacturers are increasing their production capacities to recover the supply of neon gas.

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However, the availability of neon gas is one of the primary concerns for the manufacturers. Low availability of the product causes a frequent shortage in supply causing a spike in prices.

This is compelling consumers to adopt cheaper solutions.  Argon Gas is an example of such an alternative.

Argon gas is present abundantly and can be extracted with low-cost methods as compared to neon gas. The availability of cheaper alternatives is expected to hamper the overall growth in the market.

“Growing demand for neon gas in electric and electronics sector across the globe, along for technological advancements in the production of neon gas will augment the growth in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

  • Based on applications, sales in the lighting segment are slated to increase at a 6.1% CAGR over the forecast period.
  • In terms of supply mode, demand for neon gas cylinders is projected to increase at a 7% CAGR through 2032.
  • China will account for 83.1% of the East Asia neon gas market share, with sales growing at a 7.7% CAGR through 2032.
  • Germany will dominate the Europe neon gas market, holding 31.1% of the Europe market share over the forecast period.

Competitive Landscape

The list of Key Players Covered in the Neon Gas Market are:

  • Air Products & Chemicals Inc.
  • Air Liquide
  • The Linde Group
  • Axcel Gases
  • Mil-Spec Industries
  • Electronic Flurocarbons LLC,
  • Specialty Chemical Products Inc.
  • Dakota Gasification Co.
  • Boc Gases Ireland Inc.

Key manufacturers are planning to expand their production capacities to fill the gap in the supply of neon gas owing to the Russian invasion.

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More Insights into the Neon Gas Market Report 

In its latest report, FMI offers an unbiased analysis of the global neon gas market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on application (lasers, electronics, lighting, and others), supply mode (cylinders, bulk & micro bulk, drum tanks, and on-site), and regions.

Key Segments Covered in Neon Gas Industry Research

Supply Mode:

  • Cylinders
  • Bulk & Micro Bulk
  • Drum Tanks
  • On-Site

Application:

  • Lasers
  • Electronics
  • Lighting
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Rest of MEA

About Future Market Insights (FMI)

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

Contact Us:       

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube