Market Research Blog – Page 1901 – New Product Development

Driving Growth in the Global Dry Yeast Market Sales Of US$ 102.7 Billion by 2034: Enhancing Nutrition in Animal Foods and Meeting Vegan Demand

The dry yeast market is estimated to be valued at US$ 50.36 billion in 2024. The dry yeast is predicted to rise at a moderate CAGR of 7.4% from 2024 to 2034. The global market is anticipated to reach US$ 102.7 billion by 2034.

Growth is underpinned by rising awareness about the importance of nutrition-enhanced animal foods. As pet ownership rises, consumers are looking for healthier food options. Dry yeast helps achieve this objective. They assist in improving digestion and reduce the risk of diseases.

More recently, veganism has dictated dietary preferences, owing to growing environmental degradation concerns posed due to production of animal-based foods. Additionally, vegan feeds are richer in nutritional content and improve feed quality. This shifting consumer trend is compelling manufacturers to incorporate dry yeast in animal feed production.

Palatability is an important factor while selecting animal feeds. Dry yeast helps in this regard by imparting an umami taste, thereby indulging the sensory experience of animals. Based on these trend, the dry yeast market will experience a major uptick across the aforementioned forecast period.

“Surging popularity of yeast-derived products is compelling manufacturing to diversify existing portfolios by introducing new products in collaboration with other players and expansion of their production capabilities,” Nandini Roy Choudhury, Client Partner at Future Market Insights

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Key Takeaways from FMI’s Dry Yeast Market Report

Active dry yeast shall be the most extensively used culture to enhance pet feeds in the forecast period
Rising veganism trends are accelerating organic dry yeast usage
Global dry yeast market shall surpass US$ 103.7 billion by 2034
Dry yeast market has transitioned from being a niche market to a mainstream market
Europe shall emerge as a revenue powerhouse of the dry yeast market, attributed to surging awareness about healthy foods

Dry Yeast Market- Key Trends

Rising preference for clean label ingredients by consumers shall underpin dry yeast market growth in the forecast period
Humanization of pets is bolstering appetite for high quality and premium pet food options, providing traction to the dry yeast market
Blanket ban on antibiotics usage in animal feeds is auguring demand for dry yeast as an effective substitute
High prices of yeast-based feeds renders them unaffordable to low and middle-income consumers, restricting growth prospects

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Dry Yeast Market- Competitive Landscape

Prominent players in the dry yeast market include Bellarise, SAF Instant Yeast, ADY, Kerry Group, ADM, Sensient Technologies Corporation, Associated British Foods, Red Star Active Dry Yeast and Titan Biotech Ltd., to name a few. These players are concentrating on introducing new products to enhance their product portfolio.

Titan Biotech, for instance, manufactures the Yeast Extract Powder Type 1 for usage in non-alcohol based foodstuffs. Likewise, ADM Animal Nutrition introduced yeast protein for animals in 2018. Recently, in 2020, it also launched the NutriPass L encapsulated lysine supplement for bovine animals, especially for lactating cows and growing cattle.

Dry Yeast Market Taxonomy

Product Type

Active Dry Yeast
Inactive Dry Yeast

Form

Powder
Flakes
Tablet Capsule

Base

Fortified
Unfortified

Nature

Organic
Conventional

Sales Channel

B2B
B2C
Modern Trade
Specialty Stores
Convenience Store
Online Retail
Other Sales Channel

Region/Country

North America

U.S
Canada

Latin America

Brazil
Mexico
Argentina
Rest of Latin America

Europe

EU-5
BENELUX
Russia
Poland
Rest of Europe

South Asia

India
Pakistan
Sri Lanka

East Asia

China
Japan
South Korea

Oceania

Australia
New Zealand

Middle East & Africa

GCC
Turkey
South Africa
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
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Construction Fabric Market Poised for Growth: Projected to Reach USD 28,761.2 Million by 2034 with a 4.6% CAGR

The global construction fabric market value is forecast to increase from USD 18,267 million in 2024 to USD 28,761.2 million by 2034. Over the assessment period, global demand for construction fabrics is projected to surge at a CAGR of 4.6%.

The global construction fabric market is a dynamic and multifaceted industry encompassing nonwoven and woven fabrics utilized across diverse applications like geotextiles, architectural membranes, and scaffolding. Nonwoven fabrics are esteemed for high versatility, finding utility in erosion control and road construction, while woven fabrics excel in structural applications due to high tensile strength. Driving the market forward is the dominance of synthetic materials, notably polyester and polypropylene, prized for their durability, flexibility, and resilience against environmental elements, rendering these indispensable in challenging construction environments.

In the construction fabric market, synthetic materials like polyester, nylon, and PVC dominate due to high durability, weather resistance, and cost-effectiveness. These are preferred for infrastructure projects, commercial buildings, and industrial applications, offering exceptional strength and longevity.

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PTFE and ETFE are especially favored for modern architectural designs because of their high tensile strength and flexibility. Concurrently, there’s a growing demand for natural materials like linen and cotton driven by sustainability concerns.

Biodegradable and low-carbon footprint materials meet the rising preference for eco-friendly solutions. Innovative products like flax fiber non-crimp fabrics (NCFs) cater to these needs, offering strength, sustainability, and aesthetic appeal.

The global construction fabric market is poised for significant growth driven by several key factors. Increased infrastructure investments, particularly in emerging economies, are boosting demand for durable construction materials.

The shift towards sustainable and eco-friendly building practices is driving the adoption of innovative fabrics like natural fiber composites. Technological advancements in fabric production enhance performance and lifespan, further propelling growth.

Stringent building standards and regulations worldwide necessitate the use of high-quality construction fabrics. The ongoing urbanization and industrialization trends, coupled with the rise in commercial and residential construction projects, are also key contributors to the market’s future expansion.

Key Takeaways from the Report

The global market for construction fabrics is projected to thrive at 6% CAGR through 2034.
By fabric type, the woven fabric type segment is expected to total a value of USD 15,035 million by 2034.
By application, the residential segment is set to hold a market share of 6% in 2024.
North America is expected to account for a significant share of about 1% in 2034.
The United States is anticipated to reach USD 6,529.6 million by 2034.
China is projected to attain a value of USD 4,108.2 million by 2034.
Demand in Türkiye is predicted to rise at 6% CAGR through 2034.

“The construction fabric market is poised to witness healthy growth due to increased infrastructure investments and rising urbanization. The residential application segment is experiencing significant growth, driven by rising demand for durable, sustainable, and cost-effective building materials in new housing developments and renovations,” – says an analyst at Future Market Insights.

Competitive Landscape

Key players in the construction fabric industry are focusing on tying up with small-scale players to co-develop innovative fabrics. A few companies are opening state-of-the-art manufacturing facilities in developing countries to target niche areas. With strict norms promoting sustainability, companies are striving to launch eco-friendly fabrics to comply with the regulations.

Key participants account for about 40 to 45% of the share. Saint Gobain S.A, The 3M Company, Hengli Group Co., Ltd., Freudenberg and Co, Berry Global Group, Kolon Industries Inc., Milliken and Company, Beaulieu International Group, SRF Limited, and Sioen Industries NV hold significant shares in the sector.

For instance,

In April 2024, D’Décor, a Mumbai-based construction engineering company, introduced ‘Sansaar,’ the latest brand by signing superstar Ranveer Singh. The brand aims to enhance sustainability, minimalism, and conscious living.

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Key Segments of Market Report

By Fabric Type:

Nonwoven and woven are two key types of fabric.

By Material Type:

The industry is segregated into natural and synthetic materials. The latter is sub-segmented into nylon, polyester, polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polytetrafluoroethylene (PTFE), ethylene tetrafluoroethylene (ETFE), and others.

By Application:

Residential, commercial, infrastructure, and industrial are four important applications.

By Region:

Information about key countries across North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and the Middle East and Africa is given.

About Future Market Insights (FMI)

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

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

Call for Organized and Healthy Farming Sector to Drive the Seed Treatment Materials Market, Reaching US$ 6.8 Billion by 2032

The global seed treatment materials market was worth US$ 2.6 Billion in the year 2022 and is expected to reach US$ 6.8 Billion by the year 2032 at a CAGR of 9% between 2022 and 2032.

Seed treatment materials basically describe seed treatment chemicals and products used in the seed treatment procedures. Biological seed treatment processes would be allowing expansion of seed biologicals as well as polymer sectors.

Certified commercial seeds are reported to have 99% genetic purity. The market participants have their expansion strategy planned by floating online apps and online portals to educate the farmers regarding plant and seed development laws.

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At the same time, the fact that the active chemicals used in various seed treatment solutions need several approvals prior to commercialization of the product can’t be ignored. This factor may restrain the seed treatment materials market going forward.

Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Seed Treatment Materials Market’. It has its team of analysts and consultants to deploy a bottom-up approach in its primary, secondary, and tertiary modes of research.

“Call for seed dressing, seed pelleting, seed disinfection, and seed coating is expected to drive the seed treatment materials market going forward”, says an analyst from Future Market Insights.

Key Takeaways from Seed Treatment Materials Market

North America holds the largest market share increasing use of pesticides in the US.
The Asia-Pacific is expected to be witnessing maximum turbulence in seed treatment materials market with biological seed treatment being prioritized all across India.
Europe is expected to grow on the back of Spain, Germany, France, and Russia. Cereals like barley, corn, and the fodder plants such as rapeseed, clover, alfalfa are seed treated for preventing anthrax diseases like bare smut and decay. Zinc- and manganese-based seed treatments help in strengthening the crops.

Competitive Seed Treatment Materials

BASF, in December 2020, came up with three soybean seed treatment solutions – Vault IP Plus seed treatment, Relenya seed treatment, and Poncho XC seed treatment.
Corteva Agriscience, in January 2021, did open a Center of Seed Applied Technologies –(CSAT) in southwestern region of France. CSAT is known for providing Lumivia and Lumiposa for insecticide seed treatment control, Lumidapt (seed-applied growth nutrition for hybrid crops), and Lumflex and Lumisena for fungiside seed treatment control.
Symbiogro is known for providing organic biostimulant ‘Symbiothrive’, which paves the way for micro- and macro-elements. Also, there is symbiosil, which is an organic silicon-based fertilizer containing water-soluble silicon letting plants absorb nutrients.
Napigen does help in developing hybrid wheat crops. In other words, it develops a hybridization method for creation of non-GM hybrid seeds in the non-hybrid agricultural plants.
Syngenta, in March 2021, tabled Vayantis fungicideIt that contains picarbutrazox (the active ingredient). This fungicide treatment is developed for protecting seedlings from the damping-off diseases. The product helps farmers for combating Phythium.
UPL Ltd., in October 2021, put forth a technology-driven seed treatment solution called ‘Electron 3-WM (3 Way Mix) in plant health and seed segment. It’s cost-effective as need for foliar applications at the first stage of plant cycle is reduced.
Bayer, in May 2022, launched ‘Routine Start’. It’s a novel seed treatment solution for safeguarding early-season rice seeds from the rice blast fungus.

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Key Segments Covered in the Seed Treatment Materials Industry Analysis

Seed Treatment Materials Market by Coating Type:

Seed Film Coating
- Matte Finish
- Shine
- Sparkle
Seed Encrusting
Seed Pelleting

Seed Treatment Materials Market by Application:

Seed Polymers
- Petrochemical-Based Polymers
- Biopolymers
Binder & Fillers
Colourant (Dispersed Pigment Color)
Seed Biologicals
- Biological Inoculant
- Biocontrols
- Pheromones
- Biostimulants
Seed Protection
- Insecticides
- Thiamethoxam
- Imidacloprid
- Carbofuran
- Other insecticides
Fungicides
- Thiram
- Carbendazim
- Tebuconazole
- Carboxin
- Other Fungicides
- Other Seed Protection Functions

Seed Treatment Materials Market by Form:

Powder
Liquid

Seed Treatment Materials Market by Treatment Method:

Chemical Seed Treatment
Non-Chemical Seed Treatment
- Biological Seed Treatment
- Physical Seed Treatment
Hot Water Treatment
Dry Heat Treatment

Seed Treatment Materials Market by Crop Type:

Cereals & Grains
- Corn
- Wheat
- Rice
- Sorghum
- Barley
Oilseeds & Pulses
- Soybean
- Canola
- Cotton
- Sunflower
Other Crop Types
- Turfs, Forages, and Alfalfa
- Sugar Beets & Vegetables

Seed Treatment Materials Market by Region:

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

About Future Market Insights (FMI)

Capturing Growth in the Global Licorice Candy Industry Sales of US$ 403.4 Million by 2033 : Innovating Nostalgic Flavors and Expanding Cultural Appeal

The licorice candy market is expected to grow from US$ 279 million in 2023 to US$ 403.4 million by 2033, with a CAGR of 3.1% from 2018 to 2022.

The market for licorice candies has grown due to evolving consumer tastes and preferences, focusing on nostalgic treats and innovative flavors. Manufacturers have introduced a wide range of licorice candy products to cater to changing consumer demands, offering unique and diverse experiences to attract new customers and meet the demands of licorice candy enthusiasts.

The licorice candy market has benefited from its cultural associations and global reach. Licorice candies have longstanding traditions in regions like Scandinavia, the Netherlands, and Finland, contributing to their popularity among both local consumers and international markets.

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Market Opportunities

The licorice candy market presents several opportunities for growth and expansion. Manufacturers can capitalize on the increasing demand for unique flavors and combinations, catering to evolving consumer preferences.

Additionally, there is potential to tap into new consumer markets by expanding distribution networks and exploring international markets. Innovations in healthier and natural ingredient options can also appeal to health-conscious consumers. With cultural associations and a global market presence, the licorice candy market holds promising opportunities for market players.

Key Takeaways

The licorice candy sector expanded at a CAGR of 4% from 2022 to 2033.
By 2033, China’s licorice candy market is projected to expand, with a CAGR of 2.3%.
In 2022, the United States dominated the licorice candy market with a share of 23.4%.
In 2022, Germany expanded significantly in the licorice candy market business, with a share of 12.9%.
Japan emerged as a dominant player in the licorice candy market in 2022, securing a substantial 2.5% market share.

Competitors Winning Strategies

Competitors in the licorice candy market have implemented winning strategies such as introducing innovative flavors and combinations, expanding distribution networks, focusing on healthier and natural ingredient options, leveraging cultural associations, and catering to evolving consumer preferences to gain a competitive edge and capture a larger market share.

Furthermore, competitors in the licorice candy market have also adopted effective marketing strategies, including engaging social media campaigns, collaborations with influencers and popular brands, and targeted promotional activities to enhance brand visibility and attract a wider consumer base.

Continuous product development, packaging innovations, and investments in research and development have allowed competitors to stay ahead in this dynamic market, ensuring sustained growth and customer loyalty in the highly competitive licorice candy industry.

Recent Developments:

The licorice candy market has witnessed recent developments such as the introduction of new flavors and healthier options, expansion into international markets, innovative packaging, niche, and premium offerings, collaborations and partnerships, and sustainability initiatives.
Key players in the licorice candy market are innovating products, expanding portfolios, and investing in branding and marketing to stay competitive in the market.

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What key players are doing in Licorice Candy Market?

The RJ’s Licorice Co.: Known for producing a wide range of licorice candy products, including soft-eating licorice, licorice allsorts, and licorice logs.
The Hershey Company: A major player in the confectionery industry, Hershey’s produces various licorice candies under its Twizzlers brand.
Gustaf’s Licorice: Gustaf’s is a popular licorice brand offering a variety of licorice candies, such as licorice laces, licorice wheels, and licorice bites.
Red Vines: Red Vines is a well-known licorice candy brand that offers classic red licorice twists and other licorice-based products.
Haribo: Although primarily known for its gummy candies, Haribo also produces licorice-based products, including licorice wheels and licorice ropes.

Licorice Candy Market by Category

By Product Type:

Original Black Licorice
Fruit Flavored Candy
Apple
Anise
Grape
Cinnamon
Grape

By Application:

Restaurants and Hotels
Schools and Institutions
Recreational
Sports Centers

By Packaging:

Cans
Jars
Bottles

By Region:

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

About Future Market Insights (FMI)

Driving Innovation in the Global Allergen-Free Food industry Hits US$ 102,699 Million: Strategies for Capturing Rapid Growth and Consumer Preference

The global allergen free food market size is anticipated to reach US$ 102,699 million by the end of 2034. According to a study by Future Market Insights (FMI), the market is expected to depict a strong positive growth trajectory at 7.4% CAGR between 2024 and 2034.

As per the FMI report, the global allergen-free food industry demand is estimated to surpass the valuation of US$ 50,365.7 million by the end of 2024. The industry is well positioned to register at least a 4% higher growth rate than the overall food & beverage sector.

The combined attribute of behemoth size and rapid growth has captivated leading companies in the global food & beverages sector as well as new entrants. This has created perplexed consumer preferences, and brands experience challenges in creating a differentiator in the global allergen-free food market.

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It includes in-depth insights into the allergen free food market Some of these are:

The estimated value of the market was at US$ 50,365.7 million in 2024. Through the course of the report’s forecast period, the market is projected to show an exceptional pace of growth.
North America accounts for a dominant share in the allergen free food market. Europe also holds a sizable market share. East Asia is bound to offer business opportunities to emerging market players.
Key players are likely to focus on product innovations and manufacturing technologies to widen their reach in emerging markets.
Digital advertising and adoption of online sales channel to attract the millennial and Gen Z consumers are some of the key strategies of market players.

“The demand for allergen free food is expected to rise amidst the COVID-19 outbreak as consumers are striving to maintain a strong immunity to tackle the disease. Furthermore, revival of world economy would also result in increase of per capita income, which in turn will give impetus to market,” said a lead analyst at FMI.

Growing Health and Wellness Trend and Rise in Food Fortification will Drive Growth

Consumers have become quite health conscious and majority of them spend a significant portion of their disposable income on fitness and well-being. They have also become increasingly aware that along with exercise, a proper diet is necessary to achieve physical fitness.

Food fortification is enrichment of everyday foods with essential proteins, vitamins, and minerals. Consumer preference for such foods is a result of various factors such as rising incidence of lifestyle-related diseases and weight management.

High protein foods aid in maintaining consumer health. Gluten-free bakery products and snacks comprising protein and vitamin ingredients are gaining popularity among consumers. Thus, the trend food fortification is rising, which will in turn support the expansion of the allergen free food market.

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The demand for organic food products is rising at a higher pace than supply, creating a gap between the demand and supply of organic food. Consumers are looking for produced without the use of any kind of fertilizers, pesticides, and chemical processing. Such farming and manufacturing practices are linked to deterioration of human health and environment.

The organic vegetables and fruits market happens to be the fastest growing one in the global food market. This is indicative of rising prospects for the sales of preservative-free, GMO-free and other allergen free food products.

Who is Winning?

Some of the key players operating in the allergen free food market are Abbott Laboratories, Nestle SA, Danone SA, General Mills, Kellogg Co., Kraft Heinz Company, Mead Johnson Nutrition Company, and Boulder Brands, Inc.

Due to the increasing competition, manufacturers are focusing on product portfolio expansion and improving product traceability. Besides this, some of the leading companies are focusing on entering into collaborations with regional/local manufacturers in the growing markets.

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Allergen Free Food Market Outlook & Key Findings

FMI forecasts the market for allergen free food to grow at an impressive 7.4% CAGR between 2024 and 2034
Weaker brick & mortar retail inventory in first half of 2024, pushed consumers to online stores, which witnessed over 60% amplified demand for allergy-friendly food products
Ad Spend in the first half of 2024 on three leading social media platforms increased by an average of 32% by top 50 brand, comparing against the first half of 2023
Consumers evaluated brand familiarity, labelling and price of at least three brands before making the final purchase decision, revealed in Buyer’s Journey section of the FMI report
Surprisingly, peanut free products were among top three sought after allergen free food product categories, apart from gluten free, dairy free
Finding niches and frequent product launch are strategic priority of new entrants in the market, whereas established brands leverages on existing portfolio

Get Valuable Insights into Allergen Free Food Market

Future Market Insights, in its new report, presents an unbiased analysis of the global allergen free food Market, covering historical demand data and forecast figures for the period between 2024 and 2034. The study divulges compelling insights into growth witnessed in the market. In terms of type, the market can be segmented into salad dressing, & mayonnaise. Based on applications, the market can be classified into food service, home-usage, and industrial. Regionally, the market can be segmented into North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.

About Future Market Insights (FMI)

1-Hexene Market Projected to Reach USD 208.4 Million by 2034, Growing at a 5% CAGR

According to Future Market Insights (FMI), the worldwide 1-hexene market is expected to reach USD 127.8 million in 2024 and USD 208.4 million by 2034. The market is projected to rise at a CAGR of 5% from 2024 to 2034.

The 1-hexene market is a key segment of the global petrochemical industry, playing a vital role in producing polyethylene, a ubiquitous plastic essential to various industries worldwide. 1-hexene, a linear alpha-olefin, is primarily used in the production of HDPE and LLDPE, widely used in packaging, construction, automotive components, and household products.

Demand for 1-hexene is closely tied to the growth of the polyethylene market, driven by factors such as population growth, urbanization trends, and economic development. With the global population expected to surpass 9 billion by 2050, the need for durable, lightweight plastics like polyethylene continues to rise, directly resulting in increased consumption of 1-Hexene.

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Technological advancements have allowed for more efficient and cost-effective production, while catalyst technologies have improved, allowing for higher yields and better product purity. Geographically, Asia-Pacific, driven by China and India’s industrial sectors, is a key consumption center for polyethylene and its derivatives due to robust demand.

Key Takeaways from the 1-Hexene Market Report:

The 1-hexene market is expected to reach a value of US$ 208.4 million by 2034.
The market is projected to surge at a CAGR of 5% through 2034.
China’s 1-hexene market is expected to grow at a CAGR of 5.6% by 2034.
Spain is projected to surge at 3.8% CAGR from 2024 to 2034.
Based on end-use, the chemical industry segment is expected to hold a market share of 26.6% in 2024.

“The 1-hexene sector’s dynamics are influenced by geopolitical factors and trade policies, such as tariffs and trade agreements, which are set to impact supply chains, market access, production decisions, and pricing strategies for manufacturers. This market is vital for meeting the increasing demand for polyethylene-based products globally,” says a lead analyst at Future Market Insights (FMI)

Competitive Landscape

Leading companies in the 1-hexene market are strengthening positions through contracts, expansions, and investments in research and development. They are also signing long-term contracts with raw material suppliers to overcome price limitations.

Market participants are undertaking strategic activities such as new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaborations with other organizations. To survive in a competitive and rising market, the 1-hexene industry offers cost-effective items.

Manufacturing locally to minimize operational costs is a key business tactic used by manufacturers. The competitive rivalry among companies is high due to the presence of several global and regional players.

Industry Updates-

In 2023, Phillips 66 merged with Phillips 66 Partners, acquiring all limited partnership shares in PSXP not previously owned by the company.

In 2023, S&B Engineers and Constructors was awarded a contract by Chevron Phillips Chemical L.P. to design and construct its second United States world-scale unit for on-purpose 1-hexene production.

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Leading 1-Hexene Market Players

Sasol
The Linde Group
Chevron Phillips Chemical Company
SABIC
The Dow Chemical Company
Royal Dutch Shell plc
Qatar Chemical Company Ltd
Idemitsu Kosan Co., Ltd
INEOS Group Limited

Key Segments of Market Report

By Application:

Based on application, the industry has been categorized into polyethylene production, heptanol production, flavors, perfumes, dyes, and resins.

By End-user:

As per end-users, the sector is split into paper, chemical, automotive, packaging, and cosmetics and pharmaceutical industries.

By Region:

Industry analysis has been carried out in key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, 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 ~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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Navigating Growth in the Hemp Seed Oil Market Sales of US$ 617.1 Million by 2033: Expanding Applications and Rising Demand Across Multiple Industries

The global hemp seed oil market is expected to reach a market valuation of US$ 104 million in the year 2023. The global market value for hemp seed oil grew at a CAGR of roughly 5.3 percent over the last half-decade. Meanwhile, over the forecast period of 2023 to 2033, demand for hemp seed oil is expected to expand at a CAGR of roughly 19%.

The global hemp seed oil market is expected to increase at a breakneck pace between 2022 and 2032. The rising adoption of hemp seed oil in multiple end-use sectors such as food and drinks, cosmetics, personal care, nutraceuticals, industrial, and pharmaceutical goods is attributable to this expansion. Furthermore, the increased usage of hemp seed oil in vegan goods is expected to drive hemp seed oil market growth in the coming years.

Hemp seed oil is well-known for its anti-inflammatory properties. Aside from that, there has been a significant increase in the demand for hemp seed oil in sauces and salad oils, cooking oils, nutritional supplements, and baked goods. The main cause for this scenario is greater knowledge of the health advantages of hemp seed oil.

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Hemp seed oil is gaining popularity due to its rich content of omega-3 and omega-6, which offer numerous health benefits. Hemp seed oil helps in reducing inflammation, causing diseases related to the heart and cancer. The rising awareness about hemp seed oil and its various health benefits has resulted in its increased application in cooking oils, sauces and salad oil, baked foods, and nutritional supplements.

Furthermore, the hemp seed oil is gradually finding applications in the pharmaceutical, nutraceutical, and cosmetics industries, which will bode well for the market in the coming years. It has also penetrated the pet care market, besides finding applications in the green building materials market and the biofuel market.

Key Takeaways from Market Study

The North American area’s market value for hemp seed oil is 32.5 million dollars, accounting for 38% of the global market value, with the United States owning a market share of 65 percent in the region.
As hemp seed oil contains no psychotropic chemical components, it is considered safe for use in products for babies, children, and pregnant women.
The European hemp seed oil industry is predicted to grow dramatically in the next years. Consumers are becoming more aware of the nutritional benefits of organic hemp seed products, resulting in its broad incorporation into their daily diet.
As hemp seed has a more stable nature in the air (in terms of denaturation and oxidative stability) than hulled seed, the whole hemp sector is predicted to dominate the market and continue to do so over the projection years.
Due to its strong nutritional profile, hemp seed oil is widely used in the food and beverage sectors across the world. In 2019, this sector accounted for 44.52 percent of the market. Hemp seed oil may be used in a variety of dishes, including smoothies and breakfast toppings.

Competitive Landscape

Many well-established firms are present in the hemp seed oil sector. Because the market is still in its early stages, it offers exciting chances for new entrants. To acquire a competitive advantage, industry leaders use a variety of organic and inorganic techniques. Offering organic certified products is one of the primary strategies used by significant businesses. Aside from that, several suppliers are increasing their emphasis on clean-label claims.

One of the most popular brands of the hemp seed oil is Nutiva. It is made from cold-pressed hemp seeds, and it is rich in antioxidants, omega-3 fatty acids, and fiber. It also has a nutty flavor that many people enjoy.
Another popular brand of the hemp seed oil is Manitoba Harvest. It is made from pure hemp seeds, and it contains no chemicals or preservatives. It also has a nutty flavor and a high smoke point, making it perfect for cooking.

Explore More Valuable Insights

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

The study offers compelling insights based on product type (Bread, Cakes, Pizza Bases, muffins, Hamburgers, and Other Product Types), Application (Bakery, Confectionery, Restaurant, Household), and Sales channels (Direct, Indirect) across seven major regions of the world.

Hemp Seed Oil Market by Category

By Product Type, Hemp Seed Oil Market is Segmented as:

Conventional
Organic

By Grade, Hemp Seed Oil Market is Segmented as:

Food grade
Pharmaceutical grade

By Extraction process, Hemp Seed Oil Market is Segmented as:

Cold pressed hemp seed oil
Refined hemp seed oil)

By End-use, Hemp Seed Oil Market is Segmented as:

Food & beverages
Nutraceuticals
Cosmetics & personal care
Pharmaceuticals
Industrial products

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Harnessing Growth Opportunities in the Biochar Fertilizer Industry Sales of US$ 7,969.50 Million in 2033: Expanding Role in Sustainable Energy Production

The biochar fertilizer market is expected to increase from US$ 3,848 million in 2023 to US$ 7,969.50 million in 2033.

Increasing Need for Biochar in Electricity Production to Drive Market Growth

Char product is made from waste materials such as forest and agricultural trash, as well as other contaminants. This is a type of charcoal that has the potential to be useful in the production of energy in various parts of the world. It is a cost-effective alternative for energy production; thus its use is rapidly expanding over the world.

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This char is also simple and quick to prepare. The rising usage of this char for energy production has profitable possibilities for the market throughout the predicted period.

Environmental protection is getting popular across the world. Many environmental restrictions are being advocated to safeguard the ecosystem from rubbish and carbon pollution. The government has imposed stringent environmental regulations and is encouraging the use of this commodity in a range of uses such as electricity generation, animal feeding, and others.

By decreasing trash, we can achieve a sustainable aim. It can be used as a fertilizer after being added to the soil. Increasing environmental laws support the growth of the global biochar market over the forecast period.

Biochar provides a variety of market benefits and applications. It is cost-effective, reduces waste, is pollution-free, and has low raw material costs. It has a variety of uses, one of which is cattle feed. The usage of this product for livestock feed is growing prominently around the world since it improves animal health and provides organic nutrients.

The usage of this chemical as feed aids in the absorption of toxins from the animal’s body as well as digestion. Farmers in some locations have started giving it to their cows daily. As a result, demand in this industry rises and the market expands during the forecast period.

Key Points from the Biochar Fertilizer Market

The market is expected to surpass US$ 7,969.50 million by 2033.
Rising demand for natural and organic food products, as well as a growing need to improve soil fertility and crop development, are driving up demand for biochar in the agriculture sector.
Biochar fertilizer market is expected to secure a CAGR of 8% during the forecast period 2023 to 2033.
Asia Pacific dominated the biochar fertilizer market.

Key Developments in the Biochar Fertilizer Market

June 2021 – Airex Energy and SUEZ Group have joined forces to boost the capacity of creating biochar from biomass residues from 10,000 to 30,000 tonnes per year.
June 2021 – Wakefield Biochar inked a contract with a wholly-owned subsidiary of Vow ASA (collectively ‘Vow’) to install an industry-scale Bio green system at Wakefield’s factory in Valdosta, Georgia. The US$ 5.15 million turn-key systems that Vow deliver and commission in 2022 include drying equipment, biochar synthesis utilizing proprietary Bio green technology, and the conversion of CO2-neutral syngas into energy for biomass drying.
November 2021 – Vale SA announced a 60-70 million Chinese yuan investment in China Baowu Steel Group Corp. Ltd.’s pilot biochar plant project. The parties committed to collaborating to develop steelmaking technologies that reduce greenhouse gas emissions under the terms of the MOU.
June 2022 – Airex Energy joined the BDO Zone Strategic Partnership as a technology group partner. It comprises some leading bioenergy firms that aid de-risk biobased project development in BDO Zones.
June 2021 – SUEZ Group and Airex Energy collaborated to commercialize the conversion of biomass leftovers into biochar.

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Key Segment

By Nature:

Organic
Inorganic
Compound

By Application:

Animal Feed
Agriculture
Fish farming

By Region:

North America
Europe
Asia Pacific
Central & South America
The Middle East and Africa

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Gypsum-free Lactic Acid: A Market with Huge Potential and Growth Opportunities

The global gypsum-free lactic acid market is projected to reach a valuation of around USD 3.4 billion by 2032, with sales growing at a stellar CAGR range of 9.5% to 11% from 2022 to 2032. Valued at USD 1.2 billion in 2021, the target market will reach an estimated USD 2.4 billion by 2028. This strong market growth can be attributed to elevated demand for gypsum-free lactic acid across multiple industrial verticals including food and beverage, chemicals, pharmaceuticals, and personal care products. Many of these industries prefer gypsum-free lactic acid due to its enhanced sustainability and low environmental impact. These facets will propel the market forward during the forecast period.

Though lactic acid has been used for various purposes for a long time, the industrial manufacturing of lactic acid is energy sensitive and yields enormous amounts of by-products like gypsum which results in a greater carbon footprint of the process. Hence, lactic acid manufacturing enterprises have developed innovative gypsum-free production processes for lactic acid. At present, different sectors utilize lactic acid for its improved sustainability and low environmental impact. Furthermore, lactic acid finds application as a preservative, pH regulator, and anti-microbial agent in packaged food and beverage, chemicals, and personal care products.

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During the assessment period, the market for gypsum-free lactic acid is positively influenced by constant development in manufacturing processes of lactic acid that enable the recycling of all chemicals and elimination of by-products. An upsurge in consumer spending on packaged food products and beverages and heightened demand for a better shelf life of food products to deal with food insecurity are certain factors that aid the expansion of the gypsum-free lactic acid market size. Other factors like growing awareness of environmental conservation, favorable government policies, the prevailing trend of green packing, and increasing demand for gypsum-free products will stimulate the market growth for gypsum-free lactic acid.

Key Takeaways:

High equipment costs, availability of other alternatives, and fluctuation in raw material prices may hinder the growth of the gypsum-free lactic acid market.
North America will likely account for the largest portion of the global gypsum-free lactic acid market size as it will be driven by access to advanced manufacturing technologies.
Increasing consumer spending will propel the Asia Pacific gypsum-free lactic acid market to grow at a robust rate from 2022 to 2032.
Expansive usage of gypsum-free lactic acid in packaged food products like bread, desserts, and jams, among others will strengthen the market prospect.

Competitive Landscape

Nayurework, Henan Jindan Lactic Acid Technology, Jungbunzlauer, and Corbion, among others, are significant players in the gypsum-free lactic acid market profiled in the full version of the report.

Leading market players are focusing on expanding their production capacities to meet the rising demand of consumers. New product releases and establishing facilities in regions with high potential are a few other tactics these participants employ to strengthen their market footprints. These organizations also engage in strategic partnerships, collaborations, mergers, and acquisitions to gain a competitive edge.

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More Insights into Gypsum-Free Lactic Acid Market

FMI offers the latest, unbiased, and detailed analysis of the global gypsum-free lactic acid market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of source, application, function, and region.

According to the reports, based on region, the gypsum-free lactic acid market in North America will present the most significant growth. The target market in this region will dominate the global marketplace. A strong presence of market manufacturers, access to advanced technologies, greater investments in research and development efforts, and rising adoption of biodegradable polymers in varieties of applications will aid the growth of the gypsum-free lactic acid market in North America. Additionally, Asia Pacific will also present notable growth in the gypsum-free lactic acid market as consumer spending continues to increase and industries continue to expand in this region. Heightened demand for gypsum-free lactic acid across countries like China and Japan will fuel the growth of the gypsum-free lactic acid market in Asia Pacific. Thus, North America and Asia Pacific will contribute to the global growth of the gypsum-free lactic acid market.

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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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Navigating Growth in the Citrus Pulp Fibre Market Sales of US$ 322.5 million by 2033: Sustainable Solutions Driving Demand Across Food Processing Industries

The global citrus pulp fibre market value is anticipated to reach a market value of US$ 322.5 million by 2033, expanding with a CAGR of 6.8%. Sales of the fibre pulp are likely to account for a notable part of the demand in the global food processing market in 2023.

FMI predicts that this is due to the prevalent trend of increased consumer preference for plant-based products. Since citrus pulp fibre is a product of citrus fruit processing, it is natural and sustainable, which makes it more appealing for consumers as well as manufacturers who prefer sustainable ingredients in their products. Citrus pulp fibre has a wide range of applications including bakery, beverages, confectionary, etc. The expansion of these industries drives this industry to expand as well.

The seasonal availability of citrus fruit causes price fluctuations and supply uncertainties, which can turn out to be a challenge for suppliers and manufacturers. While citrus fibre has its benefits, it is not the only competitor in the market. It has to face competition from markets such as oat fibre, wheat bran, and cellulose based fibres. This causes an intensely competitive field for the product.

FMI points out that the expanding functional food and dietary supplements industry prefers citrus pulp fibre for its texture stability, nutritional content and its suitability for use in other products. This results in expansion of the citrus pulp market as well.

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Key Takeaways

According to FMI, the United States market is expanding at a CAGR of 20.4%, due to the increasing veganism movement in 2022.
The German market is anticipated to be growing at a CAGR of 6.8% in the year 2022.
The Japanese market is showing promise of growing to a CAGR of 6% in the same year.
FMI observed that the market of Australia grew at a CAGR of 2.1% in 2022.
The Chinese market expanded at a CAGR of 10.8% in 2022, due to consumer awareness towards sustainable products.
India showed a CAGR of 6.9% in 2022, as the effect of the combined causes of sustainability and a growing consumer preference for plant-based items.
The United Kingdom market inflated at a CAGR of 4.5% in 2022, based on research done by FMI. This lower CAGR is due to price and availability fluctuations.

Competitive Landscape

Key players in the citrus pulp fiber market are focusing on providing certified, high-quality citrus pulp fiber to their customers. Manufacturers are also heavily investing in research and development for various citrus pulp fiber applications. Furthermore, sales of citrus pulp fiber have increased in the personal care, animal feed, and pharmaceutical segments as people become more aware of its various uses and health benefits. Manufacturers now can increase their market share by offering segment-specific citrus pulp fiber.

CP Kelco plans to increase its LMA pectin production capacity at its Lille Skensved, Denmark facility by 15% by incorporating advanced technology to extract pectin from a new generation of raw material.
Cargill, Incorporated has come up with CitriPure Citrus Fibres, which are label friendly, offer a nutritional boost, and are obtained without any chemical modification, along with excellent texture enhancement. They are consistently tested and on-trend prototypes are continually created.
CP Kelco, UNITED STATES., Inc. has NUTRAVA Citrus Fiber, which supports dietary fiber intake and is made from sustainably sourced peels, which is a byproduct of the juice industry. It has also released KELCOSENS Citrus Fibre, which is created from upcycled citrus peels, and helps stabilise emulsifier-free skincare products.

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Citrus Pulp Fiber Market by Category

By Nature:

Organic
Conventional

By Grade:

Food
Pharma

By Source:

Oranges
Tangerines/ Mandarins
Grapefruit
Lemon
Lime

By Region:

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

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