Licorice Root Market Growth to Exceed USD 2 Billion by 2034, FMI Reports

Licorice Root

The global licorice root market is anticipated to reach a valuation of US$ 980.0 million in 2024, driven by expansion of nutraceutical industry. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.4% between 2024 and 2034, and reaching a total valuation of approximately US$ 2,002.1 million by 2034.

Ongoing research and development activities focused on exploring the therapeutic properties and potential applications of licorice root are expanding the market opportunities, which includes studies on its anti-inflammatory, anti-diabetic, and anti-cancer properties, among others.

The increasing demand for functional food and beverages, which offer health benefits beyond basic nutrition, is driving the inclusion of licorice root extracts as a natural ingredient. The trend is expected to continue as consumers seek healthier alternatives to traditional products.

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There is an increasing preference for herbal supplements among consumers seeking natural remedies for health issues, with growing concerns about synthetic chemicals and their side effects. Licorice root supplements are witnessing increased demand due to their perceived health benefits and minimal side effects.

The licorice root, being a natural plant extract, is gaining traction as a preferred ingredient in various products catering to vegan and vegetarian consumers, as the global trend towards plant based diets and ingredients continues.

The proliferation of e-commerce platforms has made it easier for consumers to access a wide range of licorice root products globally. The expansion of online retail channels provides manufacturers with greater reach and access to a larger consumer base, thereby augmenting the market growth.

Destinations known for traditional medicine practices, such as Ayurveda retreats in India or wellness spas in Thailand, are witnessing an influx of tourists seeking holistic healing experiences. Licorice root based treatments and products play a significant role in such wellness tourism offerings.

Key Takeaways from the Market Study

  • Global licorice root market was valued at US$ 703.9 million in 2019.
  • From 2019 to 2023, the market demand expanded at a CAGR of 6.9%.
  • The market in Japan is expected to expand at a CAGR of 6.3% through 2034.
  • By product form, the extracts segment to account for a share of 70.3% in 2024.
  • The market in India is expected to expand at a CAGR of 7.9% through 2034.
  • In terms of end use, the tobacco industry segment to account for a revenue share 70.9%.

“Companies are continuously innovating to develop new and unique product formulations containing licorice root extracts. The development includes combinations with other natural ingredients to enhance efficacy or create novel product offerings, catering to evolving consumer preferences,” says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).

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Competitive Landscape

Prominent players in the licorice root market are FC Licorice, Norevo GmbH, Zagros Licorice Co., Naturex SA, Sepidan Osareh Co., VPL Chemicals, MAFCO Worldwide LLC, and Aseh Co., among others.

Company Portfolio

  • Maruzen Pharmaceuticals Co. Ltd., based in Japan, is a key player in the licorice root market, particularly in the pharmaceutical and herbal medicine sectors. The company focuses on producing standardized licorice root extracts for medicinal purposes, adhering to strict quality standards and regulatory requirements.
  • Alfarid Corporation Limited, based in Pakistan, is a major supplier of licorice root extracts to the global market. The company specializes in licorice root cultivation, processing, and export, offering a diverse range of licorice products tailored to customer specifications and industry requirements.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global licorice root market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the licorice root market, the market is segmented on the basis of product form (roots, extracts), and end use (food and beverage industry, tobacco industry, pharmaceutical industry, cosmetic industry, dietary supplements), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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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Automotive ABS and ESC Market Set for 11.2% CAGR Growth, Valued at USD 4,069.95 Million by 2033

The global automotive ABS and ESC market size is expected to achieve USD 1,407.80 million. The sales of automotive ABS and ESC are expected to surge at a robust 11.2% CAGR between 2023 and 2033. The automotive ABS and ESC demand is projected to soar to a valuation of USD 4,069.95 Million by 2033.

The automotive ABS and ESC market in automobiles continues to expand steadily. The market growth for automotive ABS and ESC may be attributed to rising incomes and spending power, changing lifestyles, and increasing public awareness of road safety measures.

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Growth Factors and Dynamics of Automotive ABS and ESC Market:

  • The demand for sophisticated safety features in vehicles has increased due to consumers’ growing knowledge of safety issues. The automotive ABS and ESC market is growing because anti-lock braking system and electronic stability control systems are crucial for averting collisions and retaining emergency control.
  • The widespread implementation of anti-lock braking system and electronic stability control systems in automobiles is prompted by the strict safety laws enforced by numerous governments and regulatory agencies globally. The requirement for these safety measures is mandated by these rules, which increases demand for automobiles.
  • The automotive anti-lock braking system and electronic stability control (ESC) technology market has benefited from the growing popularity of electric cars. To ensure safety in tandem with the advent of EVs, automotive ABS and ESC manufacturers implement safety elements to meet the special characteristics of electric drivetrains.
  • Since anti-lock braking system and electronic stability control systems have been shown to improve safety, insurance firms frequently give reduced rates for cars with these features. This incentivizes vehicle owners to buy automobiles with these technologies, increasing the electronic stability control (ESC) technology market growth.

Challenges in the Automotive ABS and ESC Industry:

The main hurdle facing the market is rising costs during the designing and testing stages and the high cost of the raw materials used to manufacture automotive ABS and ESC. These factors may hinder the automotive ABS and ESC market from expanding during the projected period.

Regional Outlook:

When it comes to market share, Europe rules the automotive ABS and ESC market. This is because more cars are being sold in this region and advanced technology has been introduced.

North America is anticipated to develop rapidly because of the automotive market growth and modern technology’s adoption.

One of the markets with enormous growth is Asia Pacific. The demand for anti-lock braking systems (ABS) is rising due to stringent traffic laws requiring ABS on all new automobiles.

Key Takeaways from the Automotive ABS and ESC Market Report:

  • The three channel ABS segment in the technology type category to grab a share of 25.4% from 2023 to 2033.
  • In the vehicle type category, the compact vehicle segment to acquire a market share of 12% between 2023 and 2033.
  • From 2023 to 2033, the automotive anti-lock braking system (ABS)and ESC market in Canada is projected to expand at a CAGR of 9.5%.
  • By 2023, sales of automotive ABS and ESC in the United States are expected to boost at a 12.5% CAGR.
  • A CAGR of 12.2% is projected for automotive anti-lock braking system (ABS)and ESC demand in the United Kingdom between 2023 and 2033.
  • Between 2023 and 2033, the France automotive anti-lock braking system and ESC market is projected to strengthen at a CAGR of 11.38%.
  • The Italy automotive anti-lock braking system (ABS)and ESC market is expected to expand at a CAGR of 10.56% until 2023.
  • A CAGR of 11.3% is anticipated for Spain automotive ABS and electronic stability control market growth between 2023 and 2033.
  • A CAGR of 11.0% is projected by the Germany automotive anti-lock braking system and electronic stability control (ESC) technology market through 2023.
  • India automotive anti-lock braking system and electronic stability control market is anticipated to rise at a CAGR of 11.89% by 2023.
  • China automotive anti-lock braking system (ABS)and ESC sales are expected to climb at a CAGR of 11.38% until 2033.
  • Japan automotive anti-lock braking system and electronic stability control market may exhibit a CAGR of 10.24% by 2023.
  • ASEAN sales of automotive ABS motors to record a CAGR of 9.64% between 2023 and 2033.
  • Australia and New Zealand (ANZ) automotive anti-lock braking system and electronic stability control market to register a CAGR of 9.64% through 2023.

Competitive Landscape:

The automotive ABS and ESC businesses are forming alliances, making strategic investments, and purchasing important technologies. The anti-lock braking and stability control systems used in practically all passenger cars is another factor fueling the market expansion for automotive ABS and ESC.

Novel Advancements:

  • A long-term contract was struck in March 2022 between Haldex and KRONE Commercial Vehicle Group to provide the fourth-generation Electronic Brake System (EBS) platform for trailers.
  • ZF Friedrichshafen acquired WABCO in 2020 to increase its knowledge of commercial vehicle safety systems, such as ESC and ABS. The acquisition aimed to build an extensive array of safety products for passenger and commercial vehicles.
  • To collaboratively develop next-generation safety technologies with an emphasis on autonomous driving capabilities, Hyundai Mobis and Aptiv collaborated in 2019. Their partnership aims to establish integrated safety technology for the upcoming automobile industry.

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Automotive ABS and ESC Market Segmentation:

By Technology Type:

  • Three Channel ABS
  • Four Channel ABS
  • ESC

By Vehicle Type:

  • Compact Vehicle
  • Mid-Sized Vehicle
  • Premium Vehicle
  • Luxury Vehicle
  • Commercial Vehicle
  • Heavy Commercial Vehicle

By Sales Channel:

  • OEM
  • Aftermarket

By Region:

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific
  • Middle East Asia

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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T: +1-845-579-5705
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Dehydrated Onions Market to Experience Remarkable 19% CAGR by 2033, Says Future Market Insights

Dehydrated Onions

The Dehydrated Onions Market is on a remarkable growth trajectory, with substantial increases in estimated market value from US$1.1 billion in 2022 to an expected US$1.6 billion in 2023. Looking ahead, the market is projected to reach an impressive US$ 3.6 billion by 2033, reflecting a significant growth rate from 2023 to 2033. This growth is driven by the rising demand for convenient and flavor-enhancing food ingredients, highlighting the market’s promising future.

The growth of fast-food restaurants, hotels, and food processing industries has raised demand for dried onions, which are used as important ingredients in a variety of cuisines. In addition, direct consumption via family recipes will drive market growth at a CAGR of more than 5.1% between 2021 and 2031.

The Dehydrated Onions Market is rapidly developing as a result of its several advantages, such as increased shelf life, simplicity of use, and preservation of flavour and nutritional value. Because of the increased demand for processed and convenience items, which is driving market expansion, dehydrated onions have various applications in a variety of culinary preparations.

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FMI predicts that the United States, Germany, the United Kingdom, China, and India will dominate the worldwide infant formula market between 2023 and 2033. Across these countries, corporate and public players are stepping up to encourage the use of infant formula to aid in the growth of babies.

The demand for onions is growing as a result of improvements in the technology used to create dehydrated food. The adoption of hoover and air-dried technologies in manufacture and distribution is encouraging for the sector. Additionally, producers of dehydrated onions have noticed opportunities for growth thanks to regulatory licences.

Key Takeaways from the Dehydrated Onions Market Study

  • The U.S. dehydrated onions market will grow from US$ 319 Mn in 2021 to US$ 478.2 Mn in 2031. This represents an absolute $ opportunity of US$ 159.2 Mn in the forecast period.
  • Conventional dehydrated onions account for 87% of the market in 2021, supported by lower costs and easier access to required volumes of raw materials.
  • White dehydrated onions will grow at a CAGR of 4.9% from 2021 to 2031, driven by higher crop and processing yields.
  • The U.K. will emerge as a leading market in Europe, accounting for more than US$ 44 million in 2021, aided by strong demand from the food processing sector of the country.
  • GCC countries will remain major contributors to the MEA market with a share of 39.3% in 2021, supported by relatively high export levels.

Robust Supply Chains to Increase Market Penetration

Global supply chains for dehydrated onions are largely mature, with adequate transportation infrastructure available to facilitate product movement. Dehydrated onions have benefited from existing supply methods since they may reach clients directly without barriers. Most dried onions come in specialized packaging, which makes storing and transportation easier.

For dehydrated products, companies are using the similar supply chain and transportation modes that find use in frozen food. With minor modifications in storage units, transportation can be made easy and hurdle-free, which improves the trade of dehydrated vegetables.

Almost all developed countries (excluding the Middle East) have an established supply chain, due to which, they are able to supply products directly to retail stores and customers on time.

Who is Winning?

Leading manufacturers in the moderately fragmented dehydrated onions market are focusing on capacity expansion, investments into strategic geographic expansion and infrastructure developments for product processing applications.

Some of the leading companies offering dehydrated onions are Olam International, Jain Farm Fresh Foods Ltd, Daksh Foods Pvt. Ltd., Jiyan Food Ingredients, Natural Dehydrated Vegetables Pvt. Ltd., Real Dehydrates Pvt. Ltd., Earth Expo Company, Kisan Foods, Harmony House Foods, Inc. Company, Silva International Inc. Company, Green Rootz, BC Foods Inc., Suszarnia Warzyw Jaworski Sp. J., Pardes Dehydration Company, Murtuza Foods Pvt. Ltd., Darshan Foods Pvt. Ltd., Garon Dehydrates Private Limited, Rocky Mountain Spice Company, R. J. Van Drunen & Sons, Inc., German Foods and other.

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Dehydrated Onions Market by Category

By Nature:

  • Organic
  • Conventional

By Variety:

  • White Onion
  • Red Onion
  • Pink Onion
  • Hybrid

By Form:

  • Chopped
  • Minced
  • Granules
  • Powder
  • Flakes
  • Kibbled
  • Sliced

By End Use:

  • Food Proccessing
    • Dressing & Sauces
    • Ready Meals
    • Snacks & Savory
    • Infant Food
    • Soups
    • Others
  • Food Service Providers
  • Retail/Household

By Technology:

  • Air Drying
  • Vaccum Drying
  • Freeze Drying
  • Microwave Drying
  • Spray Drying
  • Others

By Distribution Channel:

  • B2B
  • B2C
    • Hyper/Super Markets
    • Convenience Stores
    • Specialty Stores
    • Traditional Grocery Retailers
    • Online Retailers

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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Lactose Free Dairy Product Market to See Significant Growth, Forecast at USD 23.98 Billion by 2034

Lactose Free Dairy Product

The global lactose free dairy products market is expected to reach market valuation of USD 13,874.30 million by the year 2024, accelerating with a CAGR of 5.6% by 2024-2034.

Lactose intolerance, affecting approximately 75% of people globally, has spurred a significant shift in dietary preferences. With over 40 million Americans and about one-third of the worldwide population grappling with lactose intolerance, the demand for lactose-free dairy products has skyrocketed.

Recent purchasing habits of consumers indicate that they are prioritizing their health now more than ever before. Taking the cue, manufacturers are rolling out lactose free dairy products with additional nutritional content. Surging uptake of lactose free dairy products at a 5.6% CAGR, is expected to generate market revenue of USD 23,983.50 million by 2034.

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Investment Opportunities for Lactose-Free Dairy Product Providers to Strengthen Market Position

Key players in the lactose-free dairy market are focusing on health-conscious consumers who prioritize products with lower calories and saturated fats. This strategy is driving significant investment opportunities.

To attract a younger demographic, industry leaders are introducing lactose-free dairy products in popular flavors. Hazelnut, for instance, has mass appeal, especially among millennials and Gen Z. Launching products like hazelnut milk is a strategic move to capture this market segment.

The growing use of social media by younger consumers is further encouraging companies to invest in targeted marketing campaigns. These campaigns aim to raise awareness about the nutritional benefits of lactose-free products, such as cheese, yogurt, and milk.

However, the market growth faces challenges due to the higher manufacturing costs of lactose-free dairy products compared to regular dairy products. To mitigate this, key players are focusing on promoting their high-quality, premium-priced products to affluent consumers who are willing to pay for superior quality.

“Lactose free dairy product faces stiff competition from other plant-based food products, which has slowed down the growth potential of the market,”  says Nandini Roy Choudhury, Client Partner at Future Market Insights

Leading Companies Profiled in Lactose Free Dairy Products Market are:

  • Green Valley Creamery
  • McNeil Nutritionals
  • Valio International
  • Alpro
  • Arla Foods Amba
  • Cabot Creamery Corporation
  • Saputo Dairy rProducts
  • The Danone Company
  • Smith Dairy Products
  • Hiland Dairy Foods

Competitive Landscape

Leading lactose free dairy products makers are preferring to create new products to provide customers with a wide range of options, while the less adopting tactics included expanding into new regions and raising knowledge about lactose-free dairy products:

  • In 2020, Valio, a Finnish dairy and food firm, and Palmer Holland collaborated to distribute lactose-free milk powders. This was a critical step in bringing new value-added dairy components to the US market for both parties
  • Danone launched a lactose-free food line in Spain, named Activia, with a few varieties to capitalize on the country’s lactose-free population

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Lactose Free Dairy Products Market by Category

By Product Type:

  • Milk
  • Condensed Milk
  • Milk Powder
  • Yogurt
  • Ice cream
  • Cheese
  • Other Products

By Form:

  • Liquid
  • Semi-solid
  • Powder

By Nature:

  • Organic
  • Conventional

By Sales Channel:

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

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • 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 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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Chickpea Flour Market on Track to Reach USD 5 Billion by 2034 as Health Consciousness Grows

Chickpea Flour Market

The global chickpea flour market is slated to be worth around US$ 2,574.1 million in 2024. The market is poised to grow at an encouraging CAGR of 7.1% over the projected period. The global chickpea flour industry is penned in to garner a revenue of almost US$ 5,093.1 million by the end of this projected period in 2034.

The demand for the product is rising due to its growing appeal as an active component in baked food items or confections and as a result of changes in consumer lifestyle. Moreover, the popularity of chickpea powder as a dietary supplement has further boosted the business in the last few years.

Significant value growth of chickpea-based flour is anticipated over the projection period due to its usage in illness prevention and health maintenance. Likewise, emerging applications of chickpea powder in cosmetics and personal care products have increased the end-user verticals in recent years.

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Key Takeaways from the Chickpea Flour Market Study Report

  • The overall market is predicted to witness an absolute growth opportunity of over US$ 2.5 billion over the next ten years.
  • Interestingly, the United States is observed to be witnessing higher demand for chickpea flour which is driving the market at 7.8% CAGR through 2034 in the country.
  • In Europe, the consumption of chickpea flour in Germany is figured to grow at a CAGR of 7.1% through the projected years.
  • India to retain its centrality in the global chickpea atta market by following a CAGR of 7.5% from 2024 to 2034.
  • Desi or the indigenous form of chickpea flour is estimated to hold 59.3% market share in 2024.

Competitive Landscape for the Chickpea Flour Market Players

The chickpea-based flour market is highly concentrated in a few chickpea-yielding areas or countries located in tropical and subtropical regions. However, the growing production of chickpea or Cicar arietinum in controlled environments of temperate countries of Europe and the North is anticipated to diversify the market.

“Evolving consumer eating patterns and a move toward healthier meals to lower blood sugar levels has upraised the demand for gluten-free substitutes of traditional wheat flour. Inclusion of chickpea powder in the elite group including soybean flour is anticipated to bring in new growth avenues for the market players.” – says a lead analyst at FMI.

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Recent Developments by the Chickpea Flour Industry Participants

  • In March 2023, Supplant Foods Company of India received a patent for a technique for producing high-performance chickpea flour. This innovative process, developed by the company’s researchers and professionals, improves the functioning of chickpea protein by successfully eliminating the chemicals responsible for unwanted off-flavors and removing the color, thereby broadening its use in food and beverages.
  • In June 2023, Ardent Mills, a leading flour-milling and ingredient firm in the United States, announced two new products: Ardent Mills Egg Replace along with its Ancient Grains Plus Baking Flour Blend. The egg replacement solution is made up of only four ingredients, including chickpea flour which is also gluten-free and vegan, with no significant food allergens or soy components. The firm created these innovative, cost-effective solutions for optimal taste, function, and ease of use in bakery applications.

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Key Segments Covered by Chickpea Flour Industry Survey Report

By Product Type:

  • Desi
  • Kabuli

Distribution Channel:

  • Food Chain Services
  • Modern Trade
  • Convenience Store
  • Departmental Store
  • Online Store
  • Other Distribution Channel

By End Use Application:

  • Food & Beverage Processing
    • Bakery or Baked Goods
    • Confectionery and Desserts
    • Savory Snacks
    • Ready to Eat Products
    • Pasta & Macaroni
    • Energy & Protein Bars
    • Meat Alternatives
    • Dairy Replacements and Products
    • Mayonnaise, Sauces, Condiments, and Dressings
    • Extruded products
    • Other Food & Beverages (Batter Mixes, Gravy Thickeners, Infant Nutrition)
  • Retail Sales
    • Supermarkets or Hypermarkets
    • Departmental Stores
    • Wholesale Stores
    • Specialty Food Stores
    • Other Stores
  • Ready-to-Drink Beverages
    • Dairy based Beverages
    • Non-dairy or Plant-based Beverages
  • Nutraceuticals
  • Sports Nutrition
  • Animal Feed
  • Pet Food

By Product Claim:

  • Organic or Non-GMO
  • Conventional

By Region:

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

About Future Market Insights (FMI)

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

Contact 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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Pulse Flours Market Projected to Hit USD 38 Billion by 2033, Says Future Market Insights Inc.

Pulse Flours

The pulse flours market is expected to be valued at US$ 19.3 billion in 2023, registering a CAGR of 7.0% to US$ 38.0 billion by 2033. Due to features such as minimal fat, high fiber content, and low glycemic index, the demand for pulse flours is predicted to rise in the near future.

Increasing Adoption of Gluten-free Foods is Propelling Market Growth

Growing consumer health consciousness has resulted in the widespread acceptance of a gluten-free diet. People are becoming aware of its significance and taking considerable steps to incorporate it into their lives.

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Rapid urbanization and rising disposable incomes have resulted in increased integration of pulse flour, which is fueling pulse flour market expansion. Furthermore, governments around the world are offering incentives for increased production of pulse crops, resulting in the widespread availability of pulse flour. Consumer demand for vegetarian diets and cleaner product labeling is growing, which is expected to boost market expansion.

Pulse Price Fluctuations Pose Major Roadblocks to the Market

The main threat to the pulse flours market is the variation in the price of pulses used in the production of flour. The product’s pricing is significantly reliant on the price of pulse in a specific region. Prices are minimal in Asia Pacific countries, particularly India, due to large-scale pulse production and the region’s strong emphasis on agriculture.

The rising population has increased demand for the product, resulting in an increase in low-cost imports of pulses from various economies.

Asia Pacific Region is going to be a Prominent Market

Asia Pacific is a key geographical pulse flour market. The regional market’s expansion has been boosted by rising health concerns and increased demand for gluten-free products, particularly in emerging nations such as India and China. To switch to a healthier diet, customers with higher purchasing power have begun incorporating a variety of flours into their regular meals.

The region’s agricultural growth has improved, which, combined with advances in the food processing and food service industries, has opened up new opportunities for pulse flours and boosted the market’s expansion during the historical era.

Key Takeaways

  • The U.S. pulse flour market is predicted to grow at a moderate CAGR of 6.6% over the forecast period, reaching US$ 10.7 billion in 2033.
  • The U.K. pulse flours market is estimated to increase at a CAGR of 6.3% over the forecast period, reaching US$ 1.3 billion in 2033.
  • The China pulse flour market is predicted to grow at a moderate CAGR of 9.5% over the forecast period, reaching US$ 3.8 billion in 2033.
  • The Japanese market is estimated to grow at a CAGR of 7.7% over the forecast period, reaching US$ 1.9 billion in 2033.
  • Throughout the forecast period, the South Korean market is predicted to grow steadily at an 8.7% CAGR, reaching US$ 1.2 billion in 2033.
  • Pea may grow at a CAGR of 7% in the pulse flour market over the forecast period, depending on product type.
  • In terms of application, the food & beverage category is expected to grow at a CAGR of 6.8% over the forecast period.

Competitive Landscape

Due to the existence of many players, the competitive landscape of the global pulse flours market is extremely fragmented. Players are pursuing methods such as mergers and acquisitions, and cooperation may assist players in gaining important market positions.

Other investments in research and development tactics may also assist vendors in gaining a substantial place in the overall market rivalry. Bob’s Red Mill Natural Foods, AGT Food and Ingredients Inc., Ingredion GmbH, Red River Commodities, Inc., Globeways Canada, Inc., and Archer Daniels Midland Company are the market leaders in pulse flour.

Recent Development

  • Product Launch
  • Ingredion Inc. launched its Prista line of pulse-based ingredient solutions in October 2021. Homecraft Prista P 101 pea flour, Vitessence® Prista P 155 pea protein concentrate, and Vitessence Prista P 360 faba bean protein concentrate are available for plant-protein-based applications such as immediate and ready-to-eat (RTE) products.
  • The introduction of high-performance Prista concentrates and flours is just one of the many ways Ingredion is delivering on its strategic commitments to accelerate plant-based protein growth.

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Key Segments  

By Product Type:

  • Chickpea
  • Lentils
  • Pea
  • Beans
  • Other Product Types

By Application :

  • Bakery and Confectionery
  • Extruded products
  • Beverages
  • Animal Feed
  • Dairy Products
  • Other Applications

By Distribution Channel :

  • Food Chain Services
  • Modern Trade
  • Convenience Store
  • Departmental Store
  • Online Store
  • Other Distribution Channel

By Region :

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Guar Gum Market Expected to Surge to USD 398.4 Million by 2034, Maintaining 6% CAGR

Guar Gum

The global market for guar gum market products is estimated to be US$ 239.4 million in 2024. In 2023, the market was valued at US$ 227.4 million. It is projected to exhibit a CAGR of 6.00% over the forecast period and reach US$ 398.4 million by 2034.

Post-pandemic, there is a growing awareness about the benefits of plant-based supplements and additives in the general population worldwide. This has opened new doors for companies involved in the nutraceutical and pharma industry to incorporate guar gum to enhance the overall nutritional qualities of their products. Guar gum is a thickening and stabilizing agent derived from guar beans, commonly grown in the semi-arid parts of India.

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Guar gum finds its applications not just in the pharma industry but in the food and beverage processing sector as well. Its surging demand in these industries is attributed to its ability to provide viscosity, stabilize emulsions, and act as a thickening agent in various products. This helps manufacturers of packed food items to enhance the shelf life of their products. Guar gum meets the food and beverage industry’s demand for a natural thickening agent, attracting a substantial amount of eco-conscious consumers.

In oil and natural gas exploration plants, guar gum is used as a thickening agent in hydraulic fracturing fluids to improve viscosity and fluid flow. In countries like the United States, China, Canada, and Mexico, where shale gas exploration activities are at their peak, the demand for guar gum is very likely to increase in the coming years.

“There are still a lot of problems in the guar gum market. The market is still dependent upon India for the cultivation of guar beans. This reliance is very detrimental to the global industry as any disruptions or fluctuations in India’s guar bean production can significantly impact the guar gum market worldwide,” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Takeaways from the Market Study:

  • Function-wise, guar gums as an emulsifier dominate the market with a 57.00% share in 2024.
  • Guar gum is widely used in the food and beverage processing industry, with a market share of 57.00%
  • The guar gum market in Germany is predicted to grow at a CAGR of 11.20% through 2034.
  • The guar gum market in China is predicted to rise at a 3.20% CAGR through 2034.
  • The guar gum market in the United States has the potential to increase at 7.50% CAGR through 2034.
  • The Australian guar gum market is predicted to rise by 5.10% CAGR through 2034.
  • The guar gum market in Japan is predicted to grow at a CAGR of 4.50% through 2034.

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Competitive Landscape:

Companies such as Hindustan Gum and Chemicals, Jai Bharat Gum and Chemicals, Sunita Hydrocolloids, and TIC Gums, Inc. are key players in the guar gum market, contributing significantly to the global market share.

The majority of players in the guar gum market are present in India, as guar is primarily grown in the country. Smaller companies have significant opportunities in the guar gum market, particularly catering to regional food and beverage processing companies.

Key Players in the Market:

  • Hindustan Gum & Chemicals Ltd
  • Jai Bharat Gum and Chemicals Ltd
  • Global Gums & Chemicals Pvt. Ltd
  • Vikas WSP Limited
  • Ruchi Soya Industries Ltd
  • Supreme Gums Pvt. Ltd
  • Neelkanth Polymers
  • Sunita Hydrocolloids Pvt. Ltd
  • Vikas Granaries Limited
  • Dabur India Ltd
  • Rama Industries
  • Cargill, Incorporated
  • Ashland Global Holdings Inc.
  • TIC Gums, Inc.
  • DowDuPont Inc.
  • Lucid Group
  • Guar Resources LLC
  • Agro Gums
  • Shree Ram Industries
  • Shree Sidhbali Gum and Chemicals

Recent Developments:

  • Recently, guar gum was utilized to create a high-water-absorption, biodegradable hydrogel, providing a solution for enhancing soil moisture and supporting crop preservation during water scarcity.
  • In 2023, scientists developed edible ink for food printing using catechu and guar gum, offering advancements in food decoration and packaging.

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Market Segmentation:

By Product Type:

  • Food Grade
  • Fast Hydrated Gum Oil Drilling Grade
  • Industrial Grade

By End-use Industry:

  • Food and Beverages
  • Fracking
  • Textiles
  • Pharmaceuticals
  • Other End-Use Industries

By Primary Function:

  • Thickener and Stabilizer
  • Binding Agent
  • Other Functional Properties

By Region:

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

About Future Market Insights (FMI)

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

Contact 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
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Soy Protein Isolate Industry Poised for Significant Expansion, Aiming for USD 8.57 Billion by 2034

Soy Protein Isolate

The market size for global soy protein isolate sales is estimated to be worth USD 3,675.1 million in 2024. The soy protein isolate market is expected to reach USD 8,573.2 million by 2034. It is projected to surge at a CAGR of 8.8% in the forecast period 2024 to 2034 due to shifting customer preferences toward natural food proteins.

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Rising awareness of the benefits of protein consumption, such as high muscle mass, better recovery post-workout, and enhanced satiety post-meal, are driving demand for soy protein isolates in the market. The ascending change toward vegetarianism and veganism is a result of people becoming sympathetic toward animals and more inclined toward their welfare. This stands out as the key reason fueling the soy protein isolate market expansion.

Soy isolates are becoming more prevalent in baby food. Soy protein isolate has a substantial market potential in infant foods due to an increase in demand for it across newborn feeds, prepared meals, and packaged foods. The rise in demand for practical and economical meat alternatives among infants is a significant element boosting soy protein isolate demand globally.

Major market participants are marketing soy products with organic labeling since these commodities are derived from raw materials like peas, wheat, and soy that are produced using organic farming methods. The demand for organic soy protein isolates is also expected to increase as more consumers become aware of the numerous health advantages of consuming organic goods. This is predicted to offer profitable prospects for the expansion of the worldwide market throughout the forecast period.

Key Takeaways from the Market Study

  • Global soy protein isolate market is expected to be valued at USD 3,675.1 million by 2024
  • From 2018 to 2022, the market demand expanded at a CAGR of 2.7%
  • From 2024 to 2034, the United States market for soy protein isolate is projected to account for a 25.7% market share.
  • China to experience a 8.5% CAGR and India a 10.5% CAGR from 2024 to 2034
  • By nature, the conventional segment was estimated to acquire a 78% share in 2023.
  • By end use, the meat alternative segment acquired 25% market share in 2023.

Competitive Landscape

Prominent players in the soy protein isolate market are:

Archer Daniels Midland, Cargill Inc, Fuji Oil Holdings Inc., Farbest, Batory Food, CHS Inc., Crown Soya Protein Group E.I., The Scoular Company, Food Chem International, Nutra Food Ingredients LLC, Osage Food Products, and Dupont De Numerous Company are all key players in the food and agricultural industries.

Some key developments of the leading companies in this market are:

  • Archer Daniels Midland (ADM) opened a new extrusion factory in Serbia in 2022. This plant will increase the production of non-GMO granular soy protein. Their new extrusion factory not only boosts the region’s supply of locally produced, non-GMO textured soy protein, which is in high demand in Europe, but it also keeps up with the category’s phenomenal growth in the EMEA region.

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Key Segments Profiled in the Global Soy Protein Isolate Market

By Form:

  • Dry
  • Liquid

By Nature:

  • Organic
  • Conventional

End Use:

  • Meat alternatives
  • Bakery and Confectionery
  • Functional Foods

By Function:

  • Nutrients
  • Emulsifier
  • Fat & water absorption
  • Texturants
  • Other Functions

By Region:

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

About Future Market Insights (FMI)

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

 Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Chocolate Syrup Market Growth: Forecasted to Reach USD 4,501.5 Million by 2034 | FMI

Over the course of the forecast period, the market for chocolate syrup is expected to grow at a CAGR of 4.3%. The industry is predicted to grow dramatically, starting at USD 2,953.5 million in 2024 and reaching USD 4,501.5 million by 2034.

Chocolate Syrup Market
Chocolate Syrup Market

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Market Overview: A Rich Blend of Tradition and Innovation

Chocolate syrup is a ubiquitous dessert staple, gracing everything from ice cream sundaes to decadent milkshakes. This concentrated concoction of chocolatey goodness offers a versatile and convenient way to add a touch of indulgence to various treats. The market is witnessing a resurgence, fueled by a combination of factors:

Demand on the Rise: Chocolate Syrup Market

  • Enduring Popularity: Chocolate remains a beloved flavor across generations. Chocolate syrup provides a familiar and comforting way to satisfy cravings, particularly for busy consumers seeking quick and easy dessert solutions.
  • Versatility Reigns Supreme: Chocolate syrup transcends the boundaries of traditional desserts. It is increasingly used in coffee, cocktails, and even baking applications, catering to a wider range of taste preferences.
  • Rise of Home Baking: The trend of home baking has seen a surge in recent years. Chocolate syrup offers a readily available and shelf-stable ingredient for bakers of all skill levels.

Growing Factors: Chocolate Syrup Market

Several trends are further propelling the growth of the chocolate syrup market:

  • Manufacturers are constantly innovating with new flavors, sugar-free and organic options, and portion-controlled packaging to cater to evolving consumer preferences and dietary needs.
  • Premium chocolate syrups made with high-quality cocoa and natural ingredients are gaining traction, appealing to consumers seeking a more luxurious dessert experience.
  • The rise of online retail platforms provides wider access to a diverse range of chocolate syrups, particularly for younger demographics comfortable with online purchasing.

Key Takeaways: Chocolate Syrup Market

  • The global chocolate syrup market is projected to reach USD 4,200.0 million by 2032, driven by increasing demand for versatile dessert enhancers and premium chocolate syrups.
  • North America leads the chocolate syrup market, with the USA contributing 34.0% of the total revenue, followed by Europe and Asia Pacific regions.
  • The market is witnessing strong growth potential in emerging economies like Brazil, China, and India, fueled by the rising popularity of chocolate-flavored products and expanding distribution channels.

Competitive Landscape: Chocolate Syrup Market

The chocolate syrup market is highly competitive with a large number of players. The key players in the market are Hershey, Nestle, and Mars. These companies have a large share of the market and are well-established brands. There are also a number of smaller companies that have a significant share of the market. This market is expected to grow at a moderate rate over the next few years.

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Key Companies Profiled: Chocolate Syrup Market

  • THE HERSHEY COMPANY
  • Nestlé S.A.
  • Bosco Products, Inc.
  • Walden Farms
  • AH!LASKA
  • THE J. M. SMUCKER COMPANY
  • Santa Cruz Natural Incorporated

Key Segmentation: Chocolate Syrup Market

Segmentation by Type:

  • Conventional
  • Organic

Segmentation by Sales Channel:

  • Hypermarkets/Supermarkets
  • Grocery Stores
  • Convenience Stores
  • Specialty Outlet
  • Online Retailing

Segmentation by Region:

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

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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Bag-in-Tube Market to Reach US$ 8.7 Million by 2034, Driven by Increasing Demand for Innovative Wine Packaging Solutions

Bag in Tube Market
Bag in Tube Market

The bag-in-tube market is anticipated to be worth US$ 5.6 million in 2024. The market is projected to reach US$ 8.7 million by 2034. The market is further expected to advance at a CAGR of 4.5% during the forecast period 2024 to 2034..

A key driver of this growth is the rising demand for innovative and convenient packaging solutions, particularly in the wine industry. According to a new report by Future Market Insights (FMI), wine packaging is expected to remain a prominent segment, significantly contributing to the revenue growth of the global bag-in-tube market.

The bag-in-tube packaging offers numerous advantages, including extended shelf life, ease of use, and reduced packaging waste, making it an attractive option for both manufacturers and consumers. Additionally, the trend towards premiumization in the beverage industry and the growing preference for sustainable packaging solutions are further propelling market expansion. As the market continues to innovate and cater to evolving consumer preferences, the bag-in-tube market is poised for substantial growth in the coming years.

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Key Takeaways – Bag-in-Tube Market Study

  • Metalized PET will continue to be highly preferred in the bag-in-tube market, and is projected to capture more than 60% of the market share during the forecast period.
  • Demand from manufacturers of wine and olive oil is collectively expected to hold around 80% of the global bag-in-tube market share, and its absolute growth is expected to be more than any other segment.
  • Western Europe is expected to dominate the bag-in-tube market, and is projected to register an impressive CAGR .
  • Manufacturers of bag-in-tube can achieve substantial profits by targeting wine and spirit manufacturers as these end users finding bag-in-tube as a lightweight, leak-proof and economical packaging alternative to glass.

Largely Untapped Markets Exist in Asia Pacific and MEA

Bag-in-tube packaging, which is the extended version of bag-in-box, is very new to some markets. While the market penetration of bag-in-tube is very high in Western Europe, it is somewhat low in North America. The largely profitable markets of Latin America and Eastern Europe, where bag-in-tube is in its introductory and developing stages, are the major producers and consumers of wine, offering a great opportunity for manufacturers of bag-in-tube packaging. APEJ, MEA, and Japan have almost a negligible penetration of bag-in-tube, making them highly profitable regions for manufacturers that aim to improve their market positions.

Bag-in-tube packaging is extensively used for packaging wine and spirits, followed by high-end vegetable oil (olive oil) in European countries. The global millennial population is estimated to surpass 30% mark by the end of 2025. Millennials are easily attracted towards innovative packaging like bag-in-tube and bag-in-boxes as they such packages easy to carry and store. This is expected to create lucrative opportunities for bag-in-tube manufacturers worldwide.

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Key Segments Covered in Bag-in-Tube Industry Research

Bag-in-Tube Market by Capacity:

  • Less than 1000 ml
  • 1000 to 2000 ml
  • 2001 to 3000 ml
  • More than 3000 ml

Bag-in-Tube Market by Product:

  • EVOH Barrier + PE
  • Metallized PET

Bag-in-Tube Market by End-use:

  • Wine
  • Spirit
  • Olive Oil
  • Fruit Juices
  • Others

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
LinkedIn| Twitter| Blogs | YouTube