Banana Bread Market to Hit Record USD 3.6 Billion by 2033, Predicts Future Market Insights Inc.

Banana Bread

The banana bread market is predicted to reach a CAGR of 14.1% during the forecast period and a market value of US$ 3,600.8 million by 2033. It is also foreseen to reach a market value of US$ 959.9 million in 2023. This is mainly due to a growing consumer preference for healthier alternatives. Banana is very beneficial for heart health and the digestive system. It is also helpful in weight management. All these advantages are also coupled with the medicinal properties of bananas, making them a great fit for health-conscious consumers.

Easy availability of banana bread in various platforms ranging from modern trade to online sales channels is another major factor that is anticipated to boost the growth of the banana bread market in the near future. In addition, the increase in penetration of retail sales has augmented the growth of the banana bread market. Furthermore, the availability of banana bread on e-commerce platforms has resulted in the convenience of buying goods without physical constraints to consumers.

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E-commerce offers customers information about product & prices as well as allow benefit comparison & comprehensive value evaluation before the purchase. Also, the increased expenditure of millennials on fast food has resulted in increased demand for banana bread.

Even though banana bread contains important nutrients, such as potassium, most varieties remain high in added sugar, refined carbs, and overall calories. This is another major factor that is expected to hamper the growth of the Banana Bread Market over the analysis period.

Increased consumption of brown sugar, jam, and honey is a major factor expected to hinder the growth of the Banana Bread Market during the forecast period.

Key Takeaways:

  • The United States market showed an astonishingly high CAGR of 0% This could potentially be owing to the rising awareness regarding obesity within the consumer group.
  • FMI calculated that the market in Germany rose at a CAGR of 0% in 2022.
  • The Japanese market rose at a comparatively lower CAGR of 0% in 2022.
  • In 2022, the market in Australia expanded at a CAGR of 4%.
  • The market in China progressed at a CAGR of 1% during 2022.
  • Indian market swelled at a steady CAGR of 1% during 2022.
  • During 2022, the market in the United Kingdom augmented by a CAGR of 6%.

Competitive Landscape:

The banana bread market has an intensely competitive environment due to a high number of participants. Companies are launching banana bread in different flavors, such as sourdough and Algona coffee. They are also expanding into ice creams and chocolates, making banana-flavored ice cream as well.

  • Banana Bread Co.

Banana Bread Co. offers a variety of cakes and pies for special occasions, along with delivery services in the United States. They have also expanded into cookies and other variants of bread and cake. They also offer freshly baked bread and take custom orders.

  • King Arthur Baking Company, Inc.

King Arthur Baking Company, Inc. offers dessert and free service and has expanded into pies, cookies, and excellent and well-known banana bread. Their website also offers tips, tricks, and insight into the company and recipes. They also offer banana bread in whole grain, wheat, and sourdough variations.

  • Papa Joe’s Bakehouse

Papa Joe’s Bakehouse utilizes top-quality ingredients such as fresh fruit and Australian bananas, and they also offer a wide range of products, along with banana bread, such as utility loaves, muffins, and cakes. Their banana breads are vegan and vegetarian-friendly, catering to their consumers’ dietary preferences.

Some Prominent Banana Bread Market Players :

General Mills, Inc., Banana Bread Co., Mama Ka’z, King Arthur Baking Company, Inc., Papa Joe’s Bakehouse, Big Banana Bread, Dank Banana Bread, The Essential Baking Company, Simple Mills, Havana Banana Breads, Wheyhey, and Woolworths Supermarkets, and others.

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Key Segments Profiled in the Banana Bread Industry Survey

By Product:

  • Unflavored
  • Flavored

By Distribution Channel:

  • Hypermarket & Supermarket
  • Convenience Stores
  • Online
  • Others

By Region:

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

About Future Market Insights (FMI)

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

Contact FMI:
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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Thermoformed Tubs Market Envisions Reaching US$ 17,822.6 Million by 2033

Thermoformed Tubs Market
Thermoformed Tubs Market

The thermoformed tubs market is forecast to experience a growth of 5.3% CAGR over the estimated time period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 10,633.8 million in 2023.

While making purchasing decisions, consumers factor in the product cost. The thermoformed packaging, as per SouthPack intelligence, costs 15% less than the price of packaging developed from plastic injection molding. The lower pricing point of the thermoformed tub is expected to push its adoption quotient in the upcoming years.

According to the same source, consumers in large numbers consider the eco-friendly nature of packaging material. To tap into the emerging demand, manufacturers are developing ecologically sound products, like recyclable thermoformed tubs.

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Foodservice owners look for packaging solutions with excellent physical stress, oxygen or moisture barriers, tamper resistance, and contamination protection, all along with a functional and unique design. Thermoform tubs not only tick all these requirements but also allow easy access and prolonged shelf life. Thus, boosting its adoption among food service businesses.

GEAs introduced FoodTray in October 2019 in collaboration with Roba Group, Van de Velde Packaging, and Schur Flexibles Germany. The launch incorporates thermoforming technology with film and cardboard.

Manufacturers in the food industry are vying for green packaging solutions that help them to lower their carbon footprint. Since thermoformed packaging is being developed with 100% recyclable products, their demand is expected to soar in the upcoming period.

Key participants in the market are improving their market share by acquiring and merging with other collaborative players. Moreover, constant research and innovation are expected to help bring in new offerings, keeping in mind the sustainability demands of customers.

Top Highlights from the FMI’s Analysis of the Thermoformed Tubs Market:

  • The European region dominates the market, accounting for 29.1% of the global market. Due to advanced technologies and the amplified growth of end users, the market is expected to portray profitable prospects in the upcoming years.
  • The North America region accounts for a relatively lower market share of 26.5% than that of Europe. Robust urbanization and a high standard of living in the region are promoting the use of thermoformed packaging.
  • Asian countries like India and China exhibit CAGRs of 6.6% and 6.1% over the forecast period. The above-average growth percentage in these countries indicates significant business and growth prospects, consequently attracting more enterprises.
  • Australian market is in its early stage of development, forming a mere 1.8% of the entire market. Proactive manufacturers are realizing the latent growth potential in the country and advancing early to extract high cumulative gains later on.
  • The PET material gained a 31.6% market share in 2022. This trend is expected to continue in the forecast period as well.
  • The food and beverages segment constituted a 37.6% share of the market in 2022.

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Great Tidings: Top Developments in the Market

  • In May 2018, Luban HP1151K introduced Oman Oil Refineries & Petroleum Industries Company (Orpic) to boost the productivity and performance of transparent thermoformed trays, cups, and containers.
  • Quinn Packaging, in February 2019, released entirely recyclable black plastic food trays.
  • COEXPAN introduced CorePET in October 2019. The product is a 100% rPET sheet designed specifically for the thermoform packaging industry.
  • Mondi Group created a fully recyclable polypropylene film in June 2019 for use in thermoforming flexible films for vacuum packaging and modified atmosphere packaging (MAP). This packaging helps prolong the lifespan of products like cheese and meat.

Key Segments of the Thermoformed Tubs Market

By Material Type:

  • Polyethylene (PE)
  • HDPE
  • LDPE
  • Polyethylene terephthalate (PET)
  • APET
  • CPET
  • Polypropylene (PP)
  • Polystyrene (PS)
  • Polyvinyl Chloride (PVC)
  • Ethyl Vinyl Alcohol (EVOH)
  • Others

By Shape:

  • Round
  • Oval
  • Rectangular
  • Others

By End User:

  • Food & Beverages
  • Electronics
  • Pharmaceuticals
  • Healthcare
  • Personal care & cosmetics
  • Others

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Middle East and Africa
  • Europe

About Future Market Insights Inc. (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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Unlocking Growth in the USD 2.3 Billion Omega-3 Pet Supplement Market: Strategic Opportunities for Capitalizing on 7.9% CAGR through 2034

Omega-3 Pet Supplement Market
Omega-3 Pet Supplement Market

According to Future Market Insights, Inc., the global omega-3 pet supplement market value is estimated to total USD 1,280.7 million in 2024. It is projected to grow at a CAGR of 7.9% during the assessment period, with global revenue reaching USD 2,292.5 million by 2034.

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The humanization of pets drives the global omega-3 pet supplement industry forward. People want good health for their pets. Pet owners purchase supplements to ensure their pets receive the proper nutrition and avoid various health issues.

The humanization of pets is helping to increase sales of pet supplements, especially omega-3 fatty acid-based ones. Similarly, growing awareness about the importance of proper nutrition on pet health will likely benefit the industry.

Omega-3 fatty acids, such as those found in fish oil, have been shown to alleviate symptoms of skin conditions like atopic dermatitis and psoriasis, which can cause irritation, redness, and inflammation. These beneficial fatty acids, including eicosapentaenoic acid, alpha-linolenic acid, and docosahexaenoic acid, play important roles in brain development and reducing inflammation in the body.

Veterinarians frequently recommend omega-3 supplements as a routine treatment for pets with non-specific skin problems. Due to the numerous health advantages of omega-3s, the popularity of omega-3 pet supplements is rapidly increasing. Omega-3s can help maintain skin barrier function, seal in moisture, and keep out irritants, potentially reducing the severity of skin disorders in pets.

The clean label movement, driven by consumer demand for transparency, is making its impact in the omega-3 pet supplement industry. The main aim of the clean label movement is to maintain transparency about pet ingredients among consumers.

Key Takeaways from the Global Omega-3 Pet Supplement Market Study:

  • The omega-3 pet supplement market is projected to grow at a CAGR of 7.9% through 2034.
  • Based on form, capsule segment is expected to dominate the market with a share of 36% in 2024.
  • Based on application, the skin and coat health segment are expected to hold a leading market share of 38% in 2024.
  • The United States is expected to account for a market share of 36.4% during the forecast period.
  • Sales in India are projected to soar at 6.9% CAGR through 2034.

“The omega-3 pet supplement market shows promising growth potential, driven by the increasing pet population and surging demand for healthy pet supplements. Collaborations, mergers, and acquisitions among players indicate a competitive landscape focused on innovation and meeting evolving consumer preferences for pet health and wellness.” Says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).

Who is Winning?

Few leading manufacturers of omega-3 pet supplements listed in the report include Icelandirect, BioThrive Sciences, NutraPak USA, Nordic Naturals, Eukanuba, Iams, Hill’s, and others. These players are constantly looking to develop novel solutions to meet growing demand from pet owners.

The omega-3 pet supplement market has some start-up organizations, particularly around plant-based and algae-derived omega-3 sources. These players are looking to develop plant-based omega-3 supplements. Similarly, strategies like acquisition and mergers are becoming popular in the industry.

Industry Updates,

  • In 2023 Corbion signed a binding agreement to sell its Emulsifier business to Kingswood Capital Management. This allows Corbion to focus more on its core omega-3 ingredients business.

Purchase now and gain full access to the Omega-3 Pet Supplement Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides a thorough, detailed, and unbiased analysis of the global omega-3 pet supplement market, presenting historical demand data for the years 2019 to 2023 and forecast statistics for years 2024 to 2034. The study offers growth projections based on pet type, form, application, sales channel and region.

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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Pouch Equipment Market Set to Achieve US$ 5.26 Billion by 2033 | Future Market Insights

Pouch Equipment Market
Pouch Equipment Market

The pouch equipment market is anticipated to strive at an average CAGR of 5.1% between 2023 and 2033. The market is expected to have a market share of US$ 5.26 billion by 2033 while it is likely to be valued at US$ 3.20 billion in 2023

  • The expanding food and beverages market along with the pharmaceutical industry’s proliferation is expected to let them focus on the packaging requirements. From cosmetics to food and beverages, pouches have served a wide range of sectors. Hence, the expansion of these sectors positively impacts the market.
  • New efficient, fast, and automated machines with one-button usage and high precision are expected to transform the market during the forecast period. Furthermore, end users consuming packaged food and beverages are also helping the market expand its boundaries.

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  • The expanding e-commerce sector and many people buying goods and products online are pushing companies to experiment with designs and graphics. Further, the usage of recyclable, reusable, and bio-degradable materials has pushed the equipment vendors to adjust to the shift in materials used.
  • The latest forecast period is anticipated to perform better than the previous one as the market stived at a CAGR of 3.6% between 2018 and 2022. The covid-19’s impact on economies and supply chains directly impacted the packaging solution industry including the pouch equipment market.

 Key Points

  1. The United States market leads the pouch equipment market in terms of market share in North America. The United States region held a market share of 15.2% in 2022. The growth in this region is attributed to the high industrial automation, increased sales of packaged food items along with the brands introducing bio-degradable pouches. Further, North America’s market held a market share of 24.9% in 2022.
  2. Germany’s market is another important market in the Europe region. The market held a market share of 5.1% in 2022. The growth is attributed to the high tourist footfall along with new brands launching small-sized food items in pouch packaging in the region. Europe’s market held a market share of 27.1% in 2022.
  3. India’s pouch equipment market thrives at a CAGR of 6.3% between 2023 and 2033. The growth is attributed to the large base population, high consumption of pouch-based products such as cosmetic serums, food products like sauces and spices, along with big-in-size goods.
  4. China’s market also thrives at a CAGR of 5.7% during the forecast period. In addition, the flourishing growth is caused by the increased consumption of ready-to-eat food items like chips and other items.
  5. Based on the machine type, the fully automatic machine leads the market as it held a major share of 78.0% in 2022.
  6. Based on the end-user type, the food and beverage segment leads the market as it held a significant market share of 44.2% in 2022.

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Competitive Landscape

The key vendors focus on experimenting with different material pouches while increasing the efficiency and productivity of pouch production. Moreover, the competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments

  • Suvi Packaging Machine has introduced its automatic packing machine and multi-track seal machine. Other than these, the company has also introduced food packaging machinery, horizontal FFS machines, and automatic filling machines as well.
  • Viscotec has launched high-precision filling pumps with programmable such-back functions.

Key Segments Covered

By Machine Type:

  • Manual packaging
  • Semi-Automatic Packaging
  • Fully Automatic Packaging

By Pouch Type:

  • Stand up Pouches
  • Flat Pouches
  • Vacuum Pouches

By Orientation:

  • Horizontal
  • Vertical

By End-Use Industry:

  • Food & Beverage
  • Cosmetic & Personal Care
  • Pharmaceutical
  • Chemicals
  • Others (Homecare, etc.)

Key Regions Covered:

  • North America
    • The United States
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • The United Kingdom
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Japan
  • Asia Pacific Excluding Japan
    • China
    • India
    • Malaysia
    • Singapore
    • Australia
    • Rest of Asia Pacific Excluding Japan (APEJ)
  • Middle East and Africa
    • GCC Countries
    • Israel
    • South Africa
    • The Middle East and Africa (MEA)

About Future Market Insights Inc. (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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Capitalizing on the USD 20.8 Billion Animal Feed Sweetener Market: Strategic Insights for 8.7% CAGR Growth through 2034

Animal Feed Sweetener Market
Animal Feed Sweetener Market

The global animal feed sweetener market value is estimated to total USD 9,732.1 million in 2024 and is projected to increase at a CAGR of 8.7% during the forecast period. Global animal feed sweetener sales are projected to total USD 20,784.6 million by 2034.

Several factors are expected to drive the growth of the animal feed sweetener industry during the assessment period. These include the booming livestock sector, growing consumption of animal products, and surging demand for high-quality nutritional feeds.

Feed sweeteners are gaining wider popularity due to their ability to enhance food taste and appeal. These additives increase the palatability of feed to gain more nutrition out of it after absorption without any side effects.

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Animal owners purchase feeds with enhanced palatability to ensure their animals receive the proper nutrition and avoid various health issues. Thus, high spending on quality nutritional feeds is expected to boost sales growth through 2034.

The clean label movement is having a profound impact on the industry due to growing consumer demand for transparency. The main aim of the clean label movement is to maintain transparency about food and feed ingredients among consumers.

Increasing awareness about pet food and nutrition has boosted the market for clean-label products. There is an increased interest in natural feed sweeteners, creating new growth windows for the market.

Key Takeaways from the Global Animal Feed Sweetener Market Study:

  • The animal feed sweetener market is projected to expand at a CAGR of 8.7% through 2034.
  • Based on product type, the artificial sweetener segment is expected to dominate the market with a 54.4% market share in 2024.
  • Based on form, the powder segment is set to account for a share of about 41.2% in 2024.
  • China is expected to hold 65.2% in the East Asia region during the forecast period.
  • Demand in the United States will likely increase at a CAGR of 4.2% through 2034.

“The animal feed sweetener market shows promising growth potential, driven by the increasing demand for natural and sustainable ingredient sources. Collaborations, mergers, and acquisitions among players indicate a competitive landscape focused on innovation and meeting evolving consumer preferences for holistic animal health and wellness.” says Nandini Roy Choudhury, Client Partner at Future Market Insights.

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Who is Winning?

Leading players cover the maximum market share and the rest is for the smaller and start-up organizations.

Many players are implementing strategies like partnerships, acquisitions, and mergers to expand their presence and stay ahead. Start-ups are innovating with new ingredients and innovative sources.

Leading Animal Feed Sweetener Brands

  • ADM Animal Nutrition
  • Palital Feed Additives B.V.
  • Purina
  • INDUSTRIAL TECNICA PECUARIA, S.A.
  • EnSigns Health Care Pvt Ltd
  • Norel Animal nutrition
  • Veesure India
  • Kemin Industries, Inc.
  • Henan Znok Livestock Trading Co., Ltd.
  • Indiana Sugars

Industry Updates:

  • In December 2023, ADM announced the acquisition of PT Trouw Nutrition Indonesia, a key provider of nutritional and functional solutions for livestock farming.

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides a thorough, detailed, and unbiased analysis of the global animal feed sweetener market, presenting Historical Demand data for the years 2019 to 2023 and forecast statistics for the years 2024 to 2034. The study offers market growth projections based on product type, form, animal type, sales channel and region.

Report Preview: https://www.futuremarketinsights.com/reports/animal-feed-sweetener-market

Key Segments of Market Report

By Product Type:

The animal feed sweetener market segmentation, based on product type, is divided into natural sweeteners and artificial sweeteners. The natural sweeteners segment is further divided into stevia, palm sugar, honey, maple syrup, molasses, and thaumatin. Similarly, artificial sweeteners category is further categorized into aspartame, neotame, saccharin, sucralose, neohesperidin dihydrochalcone (NHDC).

By Form:

Feed sweeteners come in powder, liquid and crystal forms.

By Animal Type:

Based on animal type, the animal feed sweetener market is divided into ruminant, poultry, swine, and pet animals.

By Sale Channel:

Different sales channels include direct sale (B2B sales), indirect sale (B2C sales)- offline retail, and online retail. The indirect sales segment is further segmented into veterinary (pet) stores, hypermarket/supermarket, speciality store, and discount store.

By Region:

Animal feed sweetener market analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and 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
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Plastic Shrink Wrap Market Anticipates a Significant Industry Share, Projected to Reach US$ 4.67 Billion by 2033

Plastic Shrink Wrap Market
Plastic Shrink Wrap Market

The plastic shrink wrap market is anticipated to expand its roots at an average CAGR of 4.1% between 2023 and 2033. The market is expected to have a market share of US$ 4.67 billion by 2033 while it is likely to be valued at US$ 3.13 billion in 2023

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The rising demand for flexible packaging that covers the maximum area possible is adding value to the market. It is designed to carry a shrink-wrap bag. Furthermore, the usage of it to secure lids and caps is also garnering the attention of manufacturers and packagers.

  • The high protection and durability, and tamper-proofing capabilities are expected to increase its adoption of plastic shrink wraps. Alongside this, high preservation and convenience is delivered through these packaging styles.
  • The new opportunities with expanding e-commerce and regular maintenance are likely to garner market growth. They are temperamental with different ranges of temperatures, forming brittleness when too cold.
  • New high quality with 100% recyclable materials along with durable, versatile, and affordable wraps are anticipated to make the change in the flexible packaging sector. Moreover, the elements like low-density polyethylene, linear low-density polyethylene, and high-density polyethylene are helping different types of applications.

Key Points

  1. The United States market leads the plastic shrink wrap market in terms of market share in North America. The United States region held a market share of13.8% in 2022. The growth in this region is attributed to the high penetration of e-commerce, online shopping, and high number of supermarkets and hypermarkets. North America’s market held a share of 23.6% in 2022.
  2. Germany’s market is another important market in the Europe region. The market held a market share of 5.8% in 2022. The growth is attributed to many businesses advancing their packaging capacity, keeping the bundles and packages clean. Europe’s market held a market share of 20.1% in 2022.
  3. India’s plastic shrink wrap market thrives at a CAGR of 5.4% between 2023 and 2033. The growth is attributed to the expanding warehouses, e-commerce penetrations, and increased per capita income.
  4. China’s market also thrives at a CAGR of 2.9% during the forecast period. The flourishing growth is caused by enhanced manufacturing and packaging lines.
  5. Based on the material type, polyethylene terephthalate glycol (PETG) leads the market as it held a significant share of 66.3%in 2022.
  6. Based on application type, the shrink sleeves segment leads the market as it held a notable market share of 41.1% in 2022.

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Competitive Landscape

The key vendors focus on sustainable material and 100% recyclable products. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments

  • Amcor plc has introduced a broad range of shrinkable thermoforming films that come with the adapted barrier and sealing properties for dairy. The product comes with high O2 barrier to enhance the shelf life.
  • J K Polyfilm has launched the lope shrink film, heat shrink film, shrink wrap film, and VCI film.\
  • r IKEA

Key Regions Covered:

  • North America
    • The United States
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • The United Kingdom
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Japan
  • Asia Pacific Excluding Japan
    • China
    • India
    • Malaysia
    • Singapore
    • Australia
    • Rest of Asia Pacific Excluding Japan (APEJ)
  • The Middle East and Africa
    • GCC Countries
    • Israel
    • South Africa
    • The Middle East and Africa (MEA)

About Future Market Insights Inc. (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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Technological Innovations and Automation Drive Growth in Tube Sealing Machines Market Worldwide

Tube Sealing Machines Market
Tube Sealing Machines Market

The tube sealing machines market is projected to rise to US$ 1.26 billion in 2023. The tube sealing machines market size is estimated to reach US$ 1.97 billion with a CAGR of 4.6% by 2033.

This growth is driven by several key factors. Firstly, the increasing demand for efficient and automated packaging solutions across various industries, including pharmaceuticals, cosmetics, and food & beverages, is propelling the adoption of tube sealing machines. These machines offer enhanced sealing capabilities, ensuring product safety and integrity, which is crucial in regulated sectors like pharmaceuticals. Secondly, technological advancements in sealing machine designs, such as improved sealing mechanisms and automation features, are further boosting market growth by enhancing productivity and reducing operational costs for manufacturers.

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Evolution of Tube Sealing Machines:

The journey of tube sealing machines began with simple manual devices, which required human intervention at every step of the sealing process. However, with advancements in automation and robotics, modern tube sealing machines have become highly sophisticated, offering increased efficiency, precision, and versatility.

Market Dynamics:

  1. Technological Advancements: The integration of advanced technologies such as robotics, machine learning, and artificial intelligence has revolutionized tube sealing machines. These technologies have led to the development of machines capable of seamless operation, real-time monitoring, and predictive maintenance, thereby reducing downtime and enhancing productivity.
  2. Shift towards Sustainable Solutions: With growing environmental concerns, there is a rising demand for sustainable packaging solutions. Tube sealing machines equipped with eco-friendly materials and energy-efficient processes are gaining traction in the market. Manufacturers are focusing on developing machines that minimize material wastage and energy consumption while maintaining high sealing quality.
  3. Customization and Flexibility: Consumer preferences are becoming increasingly diverse, driving the need for customizable packaging solutions. Tube sealing machines that offer flexibility in terms of tube size, shape, and sealing parameters are witnessing high demand. These machines enable manufacturers to adapt quickly to changing market trends and efficiently cater to the needs of different product categories.
  4. Compliance and Regulations: Stringent regulations governing product safety and hygiene standards in industries such as pharmaceuticals and food drive the adoption of advanced sealing technologies. Tube sealing machines equipped with features such as tamper-evident seals, serialization, and compliance documentation capabilities are essential for ensuring regulatory compliance and product integrity.

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Some of the players in the tube sealing machines market:

  • Adelphi Group Ltd.
  • IMPAK Corporation
  • Axomatic Srl
  • Norden Machinery AB
  • Audion Elektro BV
  • Reagent Chemical and Research

Tube Sealing Machines Market Segmentation

By Tube Type :

  • Plastic Tube
  • Aluminum Tube
  • Laminated Tube
  • Metal Tube

By Technology Type :

  • Automatic
  • Semi-automatic

By End-user :

  • Cream
  • Gel
  • Ointment
  • Shampoo
  • Toothpaste
  • Others

By Region :

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

About Future Market Insights Inc. (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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Harnessing the Tiger Nut Boom: Strategic Investments for a 7.7% CAGR Growth in a USD 580 Million Market by 2034

Tiger Nut Market
Tiger Nut Market

The tiger nut market value is estimated to total USD 275.3 million in 2024. By the time 2034 rolls along, the value of the industry is expected to have more than doubled to USD 580 million. This means the market is forecast to progress at a CAGR of 7.7% over the next decade.

One of the pillars the tiger nut market stands on is the healthy nature of the product. Benefits such as helping digestion and improving blood sugar levels, in addition to perceived effects like improving immunity and sexual drive, help along the market’s progress. With the youth transfixed with healthy products, tiger nut adoption is on the up.

It is not just the food and beverage industry that is helping the progress of the market. The nut is also being used in cosmetics due to its skin-improving qualities. Dietary supplements are making enhanced use of the product.

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Both raw and cooked versions of tiger nuts have a rich history. With importance being given to making snacks healthier, tiger nuts are emerging as a viable option. Tiger nut demand is also increasing through its use in making alcoholic, mainly beer, and non-alcoholic beverages, such as horchata de chufa and kunu, drinks.

Key Takeaways from the Tiger Nut Market:

  • The tiger nut market value is expected to total USD 275.3 million in 2024.
  • Based on type, powder segment accounted for a value share of 57% in 2023.
  • By application, food and oil industry accounted for 45% of the market share in 2023.
  • South Korea is expected to record a CAGR of 10.0% from 2024 to 2034.
  • Japan and the United Kingdom are poised to register CAGRs of 9.4% and 9.0% respectively.

“A common strategy for market players is to improve demand through the oil and milk products. Tiger nut oil is emerging as a healthy substitute for traditional oil while tiger nut milk is becoming popular among the vegan population,” says Nandini Roy Choudhury, Client Partner at Future Market Insights.

Who is Winning?

The tiger nut market is seeing significant partnerships emerge and acquisitions being made. Several players are

focusing on launching new products in eco-friendly packaging to expand their customer base. Recent Developments in the Tiger Nut Market

  • In February 2023, Sweet Aya Bites introduced three new tiger nut products comprising the flavors sea salt, smokey BBQ, and dark chocolate.

Key Industrial Developments

  • In May 2023, WNWN Food Labs launched a vegan milk chocolate that makes use of tiger nuts.
  • In February 2023, United States-based Sweet Aya Bites unveiled tiger nut products in three flavors: sea salt, smokey BBQ, and dark chocolate. With the new products, the company is aiming to strengthen its presence in the region and boost revenue.

Key Companies in the Tiger Nut Market:

  • Tiger Nuts USA
  • Tigernuts Traders, S.L.
  • Ecoideas
  • Henry Lamotte Services GmbH
  • KCB International
  • Others

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Tiger Nut Market Key Segments of Market Report:

By Type:

Based on the type, the tiger nut market is divided into powder, granules, and others.

By Distribution Channel:

Based on the distribution channel, the sector is segmented into business to business and business to consumer. In addition, the business to consumer segment has been subdivided into hypermarkets/supermarkets, convenience stores, online retail, and others.

By Application:

Based on the application, the tiger nut sector is categorized into food and oil industry, cosmetic industry, pharmaceutical industry, and others.

By Region:

North America, Latin America, Europe, South Asia, East 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
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Unlock High Returns: Capitalizing on the Extra Neutral Alcohol Market’s USD 18.1 Billion Surge by 2034

Extra Neutral Alcohol Market
Extra Neutral Alcohol Market

According to Future Market Insights, Inc., the extra neutral alcohol (ENA) market value is projected to expand from USD 10 billion in 2024 to USD 18.1 billion by 2034. Throughout this period, the market is analyzed to record a CAGR of 6.1%.

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Growing demand for spirits, like vodkas, rums, gins, and others, is a prominent driver for the expansion of extra neutral alcohol market. Both consumption patterns, including drinking neat and mixing pure ethanol drinks with other beverages to prepare a cocktail, have been instrumental in the demand for ENA for alcoholic beverages. Players are developing new alcohol varieties to harness this lucrative segment.

The use of ENA is increasing in the processing of chocolate, confectionery, and other food products, where it is used as a food-grade solvent. Players of ENA are strategizing to enter potential markets like India and China, which are likely to increase robustly.

Apprehensions regarding the environment are leading the Indian government to dedicate itself to projects supporting a more sustainable energy future. This is anticipated to create growth opportunities for industry players.

More opportunities are expected to emerge for players who are adept at the production of organic and sustainable extra neutral alcohol. Players are riding the wave of sustainability by highlighting ethically sourced grains and eco-friendly production methods.

The surging use of ENA in various personal care products like hairsprays, perfumes, shampoos, lotions, and deodorants is promoting ENA sales. ENA is used in these products due to its antibacterial properties and preservative capabilities. Additionally, the product is also deployed as a vital carrier of flavor and fragrance.

Key Takeaways from the Extra Neutral Alcohol Market Report

  • The extra neutral alcohol market is predicted to attain a valuation of USD 10 billion in 2024 and proceed at an estimated 6.1% CAGR through 2034.
  • Grain-based segment accounted for a value share of 70% in 2023 and is projected to grow at 5.8% CAGR through 2034.
  • Potable alcohol segment is forecast to expand at a CAGR of 5.6% through 2034.
  • Sales in the United States are estimated to total USD 3.2 billion by 2034.
  • By 2034, the South Korean market is anticipated to acquire USD 1.2 billion.

“Sustainability concerns are expected to guide the efforts of extra neutral alcohol players. Moreover, players are acquiring competent smaller players and investing in the latest technologies to enhance their market share,” says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).

Who is Winning?

Industry participants are raising the production of superior quality, distinguished ENA solutions. To achieve this, they are using specific grains in the ENA formulation or deploying certain fermentation processes to develop ENA. The addressable market for distinct alcoholic concoctions is gradually expanding, which is projected to allow players to diversify their focus.

The cosmetics and pharmaceutical sectors are also witnessing heightened demand for ENA, which is increasing the prospects of ENA producers. Firms are incessantly searching for new ways to elevate their production processes to increase their yields and bring down costs.

Players are investing in the latest technologies to improve their share. Additionally, they are also taking the route of strategic acquisitions, giving them access to the latest markets, technologies, and resources.

Recent Developments Shaping the Extra Neutral Alcohol Market

  • In October 2023, India’s GST Council exempted extra neutral alcohol from GST. Both grain-based and molasses-based ENA are exempted from these taxes.
  • In November 2023, Jagatjit Industries announced that it is going to extend its premium offering by launching Royal Pride Whisky. The product is sold across fine dining establishments and retail outlets in Delhi.

Purchase now and gain full access to the Extra Neutral Alcohol (ENA) Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.

Get More Valuable Insights

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

The study provides compelling industry insights based on the raw material (sugarcane-based, grain-based, and others), type (type I and II), and application (beverages, potable alcohol, flavors and fragrances, pharmaceuticals, cosmetics and personal care, and others) across several regions.

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.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Seize the Moment: Investing in the Dark Rum Market’s Premium Surge to USD 1,510 Million by 2034

Dark Rum Market
Dark Rum Market

The dark rum market value is expected to rise from USD 953.1 million in 2024 to USD 1,510 million by 2034. Global sales will likely rise at a CAGR of 4.7% throughout the assessment period.

Multiple factors are expected to spur growth of the dark rum industry during the forecast period. These include growing interest in premium spirits, expanding cocktail culture, and increasing number of bars and pubs.

Dark rum is presently having its moment in emerging economies like India and China. Players in such economies, in addition to relying on low-cost tags, are finding growth in premium product offerings among growing discerning audiences.

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Providers of alcoholic beverages are seeking a makeover, as they wish to switch their labeling as a favorite college cocktail drink or a staple product found in defense canteens. Such a dynamic shift is the reason why players are finding a sweet spot among connoisseurs who are consistently on the lookout for premium, niche products.

Nowadays, consumers are willing to experiment and attempt to consume innovative, unique blends. Consumers are consuming less but high-quality drinks. Additionally, the surging cocktail trend and increasing adoption of rum as a unique ingredient are creating heightened demand for premium rums.

Key Takeaways from the Dark Rum Market Report

  • The dark rum market is forecast to record a CAGR of 4.7% through 2034.
  • Demand for dark rums with a strength of 40% ABV is projected to surge at a 4.5% CAGR.
  • Liquor stores segment accounted for a share of 75% in 2023.
  • Sales in the United States are set to total USD 268.7 million by 2034.
  • South Korea is forecast to record a CAGR of 7.1% over the forecast period.

“Players take note of inclusivity as they offer premium dark rum offerings to cater to multiple regions after achieving success in mass-produced dark rums that have been on sale in emerging countries,” Nandini Roy Choudhury, Client Partner at Future Market Insights 

Who is Winning?

Players are relying on luxurious rum offerings to make a larger cut in the market. Consumers, especially in developed economies, have displayed a preference for finer drinking experiences.

Discerning population in developing economies is also contributing to the sales of these drinks. Companies are thus trying their hands at unique blends of dark rums. A new variety that is having its limelight moment is spiced and flavored rums.

Certain players, particularly those with target audiences based in specific countries, are experimenting with local ingredients and arranging for small-batch dark rum production processes. This signifies that the consumer base is open to experimental drinking options.

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Latest Developments in the Dark Rum Market

  • Piccadily Distilleries, an independent producer and distributor of malt spirits throughout India, released Camkara recently. Camkara is a limited edition that is aged over the span of 12 years in ex-bourbon barrels. The alcoholic beverage contains 50% ABV and has no added color, sugar, or flavor.
  • Equiano Rum, which is the producer of the first Caribbean and African rum offering, introduced a new product in March 2024. The company made its first vintage debut of Foursquare and Gray’s Rums.

Leading Dark Rum Brands

  • SASMA
  • Captain Morgan
  • Bacardi
  • Malibu
  • Radico Khaitan
  • Amrut Distilleries
  • Others

Get More Valuable Insights

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

The study provides compelling industry insights based on alcohol content {40%, 69%, and 75% Alcohol by Volume (ABV)}, end user (individual consumer, store purchase, HORECA, and others), and sales channel (direct sales, liquor store, and others) across several regions.

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Key Segments of Dark Rum Market

By Alcohol Content:

The dark rum market segmentation, based on alcohol content, is divided into 40%, 69%, and 75% Alcohol by Volume (ABV).

By End User:

The industry is classified based on end users into HORECA, individual consumers, and store purchases, among others.

By Sales Channel:

Different sales channels that sell aged rum include direct sales, liquor stores, and others.

By Region:

Key countries of regions like North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been introspected in the report.

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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