Beauty Supplement Market Global Sales Forecast to Reach USD 4.456 Million by 2033

The global beauty supplement market value is projected to increase from US$ 2,679 million in 2023 to US$ 4,456 million by 2033. Over the forecast period, sales of beauty supplements are set to soar with a compound annual growth rate (CAGR) of 13.6%.

Several factors are anticipated to drive growth of the beauty supplement market. These include growing focus on improving aesthetic appearance, rising interest in preventive healthcare, and development of novel products with natural ingredients.

Beauty supplements are becoming an ideal means of improving skin health and beauty. These supplements contain collagen, antioxidants, vitamins, and other bioactive substances that facilitate healthy growth of cells.

As individuals search for natural ways to enhance their physical appearance and become more health-conscious, the market for beauty supplements is expanding. Hence, a positive growth trajectory has been predicted for the target business.

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In tandem with this, there has been a notable surge in people’s concerns with their physical appearance. Social media, beauty standards, and celebrity culture have made people more aware of their appearance and interested in maintaining and enhancing it.

Beauty supplements can be a convenient and non-invasive complement to regular skincare and haircare routines. They can help with problems such as brittle nails and hair loss.

The trend to look young, along with a rise in disposable income of consumers worldwide, is another prominent factor driving the beauty supplement industry. Further, growing awareness about the need for self-care is also contributing to increasing women’s adoption of beauty supplements globally.

The present-day beauty supplement market has increased significantly due to enormous investments made in research and development to produce novel items. Customer preferences in beauty supplements have been profoundly impacted by the emergence of social media platforms and beauty influencers promoting radiance-boosting vitamins.

Key Takeaways from the Global Beauty Supplement Market Study Report:

  • The global beauty supplement market is set to total US$ 4,456 million by 2033.
  • Based on key ingredients, collagen segment is set to hold a value share of 16% in 2023.
  • By form type, tablet segment is expected to account for 36% of the total revenue in 2023.
  • The United States alone accounted for 26% of the global consumption of beauty supplements.
  • Demand for beauty supplements in the United Kingdom is poised to grow 5.4% CAGR through 2033.

Who is Winning?

To grow their market share, key firms are implementing collaborations, mergers, and acquisitions. They are also launching a number of innovations and diversifying their product lines to boost their sales.

For instance,

  • In 2021, HUM Nutrition, a multinational consumer products corporation, was acquired by Unilever.

What Does the Report Cover?

Future Market Insights (FMI) offers a unique perspective and actionable insights on the beauty supplement market in its latest study, presenting a historical demand assessment of 2018 to 2022 and projections for 2023 to 2033. The global beauty supplement market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The research study is based on form type (tablets, capsules, liquid, powder premixes, gummies or chewable, lozenges, other form types), key ingredients (collagen, biotin’, vitamins, minerals, hyaluronic acid, omega-3 fatty acids, antioxidants, amino acids, herbal extracts, pro and probiotics, other ingredients), functionality (skin care support, nail care support, hair care support, eye care support, other functionalities), sales channel (hypermarkets or supermarkets, specialty stores, drug stores and pharmacies, convenience stores, online retail channels, other sales channels), and region (North America, Latin America, Europe, East Asia, South Asia and Pacific, Middle East and Africa).

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Key Companies Profiled

  • Nature’s Bounty Co., Ltd.
  • Nature Made Co.
  • OLLY Co., Ltd.
  • Briogeo Inc.
  • Ritual Inc.
  • Persona Nutrition
  • Garden of Life
  • Nutrafol Inc.
  • HUM Nutrition Inc.
  • Neocell Inc.
  • Swolverine
  • Thome Co., Ltd.
  • Pure Encapsulations
  • Viviscal Inc.
  • Nutricost Co., Ltd.
  • Swisse Wellness PTY Ltd.
  • NutraBlast Co., Ltd.

Beauty Supplement Market Outlook by Category

By Form Type:

  • Tablets
  • Capsules
  • Liquid
  • Powder Premixes
  • Gummies or Chewable
  • Lozenges
  • Other Form Types

By Key Ingredients:

  • Collagen
  • Biotin’
  • Vitamins
    • Vitamin A
    • Vitamin E
    • Vitamin A
    • Vitamin D
  • Minerals
    • Zinc
    • Selenium
    • Copper
    • Others
  • Hyaluronic Acid
  • Omega-3 Fatty Acids
  • Antioxidants
  • Amino Acids
  • Herbal Extracts
  • Pro and Probiotics
  • Other ingredients

By Functionality:

  • Skin Care Support
  • Nail Care Support
  • Hair Care Support
  • Eye Care Support
  • Other Functionalities

By Sales Channel:

  • Hypermarkets or Supermarkets
  • Specialty Stores
  • Drug Stores and Pharmacies
  • Convenience Stores
  • Online Retail Channels
  • Other Sales Channels

By Region:

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

Explore FMI’s related ongoing Coverage in Food and Beverage Domain:

The global probiotic supplement market size is expected to reach US$ 7,524.6 million in 2024. It is projected to exhibit steady growth during the forecast period, with global demand for probiotic supplements rising at 11.2% CAGR. The market is projected to reach US$ 23,874.5 million by 2034.

The global dietary supplement market size is expected to attain a valuation of around US$ 170.1 billion by 2034. The market is anticipated to witness a steady CAGR of 9.5% in the assessment period 2024 to 2034. By the end of 2024, the market for dietary supplements is projected to reach a total valuation of US$ 74.3 billion.

The global digestive health supplements market size is estimated to reach US$ 17,160 million in 2023. With demand expanding at a 6% CAGR, the market size is projected to reach US$ 29,648.6 million over the forecast period.

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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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Revolutionizing Manufacturing Efficiency: Electronic Batch Records Market to Surge at 12.8% CAGR, Reaching US$ 8,786.4 Million by 2033

The global market for electronic batch records is expected to reach a valuation of US$ 2,627.0 million by the year 2023. A estimated US$ 8,786.4 million market value is reached by the end of 2033. The market is expected to expand at a noteworthy pace of 12.8% CAGR between 2023 and 2033.

Pharmaceutical companies place a high priority on innovative research, but their efforts are hindered by accounting bureaucracy. In the past, reporting requirements pertaining to regulations have led to complicated procedures and few potential benefits. Since electronic batch records have been introduced, this is now a relatively realistic option. Electronic batch records digitize and simplify records by replacing traditional paper-based approaches.

In the past, regulatory reporting burdens have led to complex procedures and insignificant results that could be achieved. With the advent of electronic batch records, this is now possible very easily. Electronic batch recors streamline and digitize records by replacing traditional paper-based systems. This enhances efficiency in data management and streamlines the manufacturing procedures.

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Human errors such as technical and calculative errors, misplacing important documents, or wastage of time in redundancy are reduced by the implementation of the electronic batch records system. This drives the companies to adopt it more than ever. With time ticking, businesses are looking for alternatives at the click of a mouse. Electronic batch records fulfill this demand for consumers.

Electronic batch records also ensure minimum warehouse inventories, leading to enhanced data integrity and accuracy along with a streamlined process to optimize manufacturing procedures. The market for electronic batch records benefits from this in the foreseeable future..

Key Takeaways

  • The United States accounted for 16.5% market value in the global electronic batch records market in 2022. This is accredited to many leading quality management solutions dominating the region and bringing about novel research and development ideas.
  • China’s market has shown significant potential and is anticipated to advance at a rapid CAGR of 15.6% through 2033, owing to the rapid industrialization and population outburst in the region.
  • Comprehensive product offerings by manufacturers in India encourage consumers to adopt electronic batch records in the region.

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Competitive Landscape

FMI’s research predicts that companies adopting electronic batch records systems will likely have a competitive edge by displaying quality and efficiency as their prime motto. The leading players are interested in investments in research and development to formulate new techniques to offer software solutions. The transition from paper-based recording systems to electronic batch records systems is on the verge of digitally transforming the pharmaceutical industry. Key players use this as an opportunity to expand their consumer imprint by adopting strategies such as mergers and acquisitions, partnerships, and collaborations.partnerships and collaborations.

Recent Developments

  • In June 2023, Schneider Electric, a global leader in the digital transformation of energy management and automation, unveiled a new framework to help businesses understand the complete environmental impact of enterprise data centers.
  • In January 2023, Siemens expanded its digitalization portfolio for the Indian machine tool sector to improve the value proposition and profitability to its consumers. This move enabled manufacturers and consumers of machine tools to design, realize and optimize machines and components faster, react flexibly to market requirements, and enhance productivity across the various end user industries. machines and components faster, react flexibly to market requirements and enhance productivity across the various end user industries.

Key Segments Profiled in the Electronic Batch Records Market Survey

By End-User:

  • Pharmaceuticals
  • Life sciences
  • Automobile
  • Others

By Region:

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

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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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Enterprise Rights Management (ERM) Solution Market Poised for Explosive Growth: Projected to Reach $30.99 Billion by 2033

The Enterprise Rights Management Solution Market Overview is currently on an impressive growth trajectory, expected to achieve a valuation of US$ 5,033.8 million by the end of 2023. This remarkable surge in the market’s fortunes can be attributed to the robust support provided by enterprises to meet the surging demand, particularly during the unprecedented work-from-home scenario that unfolded in 2020.

Furthermore, the global enterprise rights management market is projected to experience exponential growth, anticipated to reach a staggering US$ 30,995.2 million by 2033. This trajectory is characterized by a remarkable Compound Annual Growth Rate (CAGR) of 19.9% from 2023 to 2033, reflecting the increasing importance of Enterprise Rights Management Solutions in the modern business landscape.

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Key Takeaways

  • The global Enterprise Rights Management Solution Market is poised to reach US$ 5,033.8 million in 2023, fueled by the heightened focus on data security and the surge in remote work scenarios.
  • The market is projected to experience exponential growth, with a CAGR of 19.9%, reaching US$ 30,995.2 million by 2033, reflecting the growing importance of ERM solutions in the digital age.
  • Major companies are increasingly adopting ERM solutions to safeguard private and confidential information, addressing the rising threats of data theft and data loss.
  • The United States emerges as a leading region in ERM adoption, shaping regional trends and the global ERM landscape.

Drivers and Opportunities

The growth of the Enterprise Rights Management Solution Market is further fueled by the heightened need for data security and privacy in an era where digital information plays a pivotal role. The increasing complexity of data security threats has made ERM solutions an indispensable component of any enterprise’s strategy.

Competitive Landscape – Regional Trends

In the United States, the adoption of Enterprise Rights Management Solutions has been particularly noteworthy, with companies at the forefront of ERM adoption. This regional trend underscores the significance of the U.S. market in shaping the global ERM landscape.

Restraints

Despite the robust growth, the Enterprise Rights Management Solution Market is not without its challenges. The complexity and cost of implementing ERM solutions may act as a restraint for smaller enterprises. Moreover, the market faces continuous evolution in response to rapidly changing security threats, necessitating ongoing investments.

Region-wise Insights – Category-wise Insights

The United States, Europe, and Asia-Pacific are the key regions contributing to the substantial growth of the Enterprise Rights Management Solution Market. Within the market, software-based ERM solutions are expected to witness the highest demand, given their flexibility and scalability in data protection.

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Key Segmentation

By Component:

  • Integrated with Data Loss Prevention (DLP)
  • Integrated with Enterprise File Sharing and Synchronization (EFSS)
  • Integrated with other systems
  • Consulting services
  • Implementation and integration services
  • Training and support services

By Organization Size:

  • Large enterprises
  • Small and Medium-sized Enterprises (SMEs)

By Deployment Type:

  • On-premises
  • Cloud

By Vertical:

  • Banking, Financial Services, and Insurance (BFSI)
  • Research and publications
  • Education
  • Law
  • Healthcare and pharmaceuticals
  • Government
  • Software and technology
  • Manufacturing
  • Others(Retail, and media and entertainment)

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.

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Gesture Control Market to Reach $57.4 Billion by 2033, Driven by Technological Advancements and Increasing Digitization

The Gesture Control Market is poised for significant growth in the coming years, with a projected market value of US$ 11,806.9 million in 2023, and an estimated total worth of US$ 57,403.5 million by 2033. This growth is expected to be driven by a robust compound annual growth rate (CAGR) of 17.1% from 2023 to 2033. Notably, the market achieved a CAGR of 15% during the historical period from 2018 to 2022.

Gesture control, a natural and intuitive form of human-machine interaction, has become a pivotal element of today’s digital landscape, primarily fuelled by technological advancements and the increasing digitization across various sectors, including automotive, consumer electronics, and healthcare.

The Gesture Control Market is expanding due to its use in a variety of end-user industries such as consumer electronics, virtual reality, augmented reality, healthcare, and automotive. The user-friendliness of gesture control technology has increased its popularity, improving usability and boosting adoption across several industries.

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Key Takeaways 

  • The gesture control market in India is expected to rise rapidly, with a CAGR of 18.4% by 2033, due to increased use in the consumer electronics and automotive sectors.
  • The gesture control industry in the United Kingdom is estimated to develop at a CAGR of 17.3% by 2033 as industries integrate gesture-based interfaces to improve user experience and control equipment.
  • China’s gesture control sector is expected to develop at a 15.2% CAGR by 2033, owing to the country’s breakthroughs in AI and IoT technologies, which are boosting demand for gesture-based interactions.
  • The gesture control market in Australia is expected to rise slowly, with a CAGR of 2.5% by 2033, as businesses investigate gesture control applications in gaming, virtual reality, and smart home systems.
  • The gesture control sector in Japan is expected to expand at a moderate CAGR of 4.2% by 2033, as the country’s automotive and robotics sectors integrate gesture-based interfaces for improved control and safety.

Competitive Landscape 

Microsoft, Apple, and Google all have a strong presence in the market, offering gesture control options via their own platforms, such as Kinect, Face ID, and Google Soli. To sustain a competitive advantage, these organizations rely on their vast R&D capabilities and high brand recognition.

Manufacturers of specialized gesture control technology, such as Leap Motion, eyeSight technology, and SoftKinetic (Sony Depth Sensing Solutions), concentrate entirely on creating and supplying gesture control solutions. These players frequently focus on specific applications, such as gaming, virtual reality, and automotive, and provide specialized solutions customized to the needs of their target industry.

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Recent Development 

  • At Sensor+ Tesy in April 2023, Elmos introduced sensor IC solutions and novel concepts for smart switches for enhanced gesture control. By providing smooth human-machine interfaces through simple gestures, this technology enhances automotive and industrial applications.
  • In January 2023, PreAct Technologies, a company that creates flash LIDAR technology, acquired Gestos, a software start-up in Barcelona. As a result of this acquisition, PreAct plans to integrate Gestoos’ cutting-edge computer vision and gesture recognition technology into its extensive activity monitoring, device control, and spatial awareness system.

Key Segments Profiled in the Gesture Control Market Industry Survey

Gesture Control by Input Devices:

  • Wearable-based
  • Vision-based
  • Infrared-based
  • Electric field-based
  • Ultrasonic-based

Gesture Control by Dimension:

  • 2- Dimension
  • 3- Dimension

Gesture Control by Application:

  • Consumer Electronics
  • Automotive
  • Gaming and Entertainment
  • Healthcare
  • Defense
  • Others

Gesture Control by Region:

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

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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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Market Dynamics Exploring the Expansion of Algae-Based Food Additives 2023 to 2033

As per the recent research report by Future Market Insights (FMI), sales of algae-based food additives market are estimated to reach a value of US$ 349.1 million by 2033, surging at an 8.3% CAGR through the forecast period 2023 to 2033. The algae-based food additive market is anticipated to attain a value of US$ 157.3 million by 2023.

In the ever-evolving landscape of the food industry, a notable trend on the horizon is the swift surge in demand for algae-based food additives, which is projected to persist over the next ten years. This burgeoning interest is propelled by an escalating consumer inclination toward natural, sustainable, and nutrient-rich food products.

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They serve as an excellent source of dietary fiber and antioxidants. The rising awareness among consumers about several health benefits associated with algae-derived additives is a significant driver of this trend. The need for sustainable and eco-friendly food solutions amid growing environmental concerns is bolstering the adoption of algae-based additives. Food manufacturers and processors are increasingly turning to algae as a viable alternative to conventional additives, thereby propelling the demand for these natural ingredients.

Key Takeaways from the Algae-based Food Additive Market Study-

  • The algae-based food additive industry in the United States is poised to exhibit a CAGR of 7.4% in the estimated period.
  • China’s strategic edge in the global algae-based food additive industry has resulted in the country expanding at a 7.6% CAGR through 2033.
  • Germany’s increasing emphasis on well-being is expected to help the algae-based food additive market record a CAGR of 7.3% in the forecast period.
  • Based on product type, the carrageenan segment is expected to hold a market share of 48.6% by 2023.
  • Based on the source, the red algae segment is expected to hold a market share of 45% by 2023.

“Even though the market for food additives made from algae is niche, there is room for growth in the years to come. This is due to customers’ growing desire for natural, healthful, and sustainably derived food products. Food companies are looking for sustainable solutions to reduce their environmental effect, and algae-based food additives can be the answer.” -says Nandini Roy Choudhury Client Partner for Food and Beverages at Future Market Insights, Inc.

Competitive Landscape

The algae-based food additive market is characterized by the presence of several key players, each striving to gain a higher market share. These companies often engage in several strategies, such as mergers and acquisitions, partnerships, product innovations, and expansions, to strengthen their position in the market. Companies are investing in research and development to generate unique formulations targeting specific needs.

A handful of the leading companies offering algae-based food additives include Corbi, Aliga Microalga, Triton Algae Innovation, Cargil, Gino Biotec, CP Kelco U.S. Inc., AEP Colloid, KIMI, Hispanagar S, Algama Foods, and Arizona Algae Products, LLC.

For instance,

  • The AlgaeProBANOS (APB) project, initiated by The SUBMARINER Network in 2023, aims to develop novel, high-value algae-based products for a variety of industries, including textiles, cosmetics, animal feed, human food, and more.

Key Companies Profiled

  • Corbi
  • Aliga Microalga
  • Triton Algae Innovation
  • Cargil
  • Gino Biotec
  • CP Kelco USA. Inc.
  • AEP Colloid
  • KIMI
  • Hispanagar S
  • Algama Foods
  • Arizona Algae Products, LLC
  • Other Players

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Algae-based Food Additive Market Outlook by Category

By Product Type:

  • Carrageenan
  • Alginate
  • Agar
  • Spirulina
  • Others

By Source:

  • Red Algae
  • Brown Algae
  • Green Algae

By Functionality:

  • Thickening
  • Gelling
  • Stabilizing
  • Emulsifying
  • Enhancing Texture

By Application:

  • Frozen Desserts & Dairy Products
  • Confectionery & Bakery
  • Convenience Food & Snacks
  • Beverages
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • 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.
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Predicting the Expansion of the Algae-Based Animal Feed Market to USD 8,158.1 Million by 2033

The demand for algae-based animal feed and components is anticipated to increase at an annual average growth rate of 3.7% from 2023 to 2033. By following this growth rate, the overall market value is anticipated to reach US$ 8,158.1 million, growing from US$ 4,467.4 million in 2023.

Growing acceptance of marine-based nutritional supplements has increased the demand for algae-based animal feed additives globally. Ulva, porphyra, spirulina, gracilaria, chlorella, dunaliella, and tetraselmis are used for algae-based animal feed and additives, which are gaining popularity due to their higher nutrition content. The adoption of kelp cultivation in marine ecosystems by remote area farmers has also boosted the supply of algae for industries.

The use of dietary supplements for animals with mineral contents has also increased with rising animal health consciousness and a growing focus on their immune system. Moreover, microalgae organisms have been the subject of extensive study as a potential effective protection against the extraordinary health crisis that affects ruminants.

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Key Takeaways from the Algae-based Animal Feed Market Study Report

  • The worldwide market for algae-based animal feed is expected to witness an absolute growth opportunity of roughly US$ 3,600 million over the next ten years.
  • The United States is the leading consumer of algae-based animal feed, and in 2023, it could acquire a global market share of 19.8%.
  • In Europe, the United Kingdom is the leading market for the production of seaweed feeds, and the regional market could advance at 5% CAGR through 2033.
  • China is the global leader in seaweed production, and the algae-based animal feed industry here is anticipated to progress at 7.6% CAGR through 2033.
  • India is anticipated to follow China closely in advancement in algae-based animal feed utilization by following a CAGR of 7.3% CAGR through 2033.

Competitive Landscape for the Algae-based Animal Feed Market Players

The overall market for algae meal for livestock is highly diversified, with some leading players having prominent positions due to extensive supply chains. As governments, particularly in Asian countries, are pushing towards a more sustainable feedstock market, the emergence of new players here could further fragment the market.

Key Companies Profiled in the Algae-based Animal Feed Industry 

  • Cargill Inc.
  • Archer Daniels Midland Company
  • DIC Corporation
  • Koninklijke DSM NV.
  • Roquette Freres
  • Sun Chlorella
  • Cellana LLC.
  • Fuji Chemical Industries Co. Ltd.
  • Algama Foods
  • Corbin (Terra Via Holdings)
  • HOWND
  • Yunnan Green-A-Bio-engineering Co Ltd.

Recent Developments in the Algae-based Animal Feed Industry 

Alltech Incorporate and Agolin Company of Switzerland partnered in May 2023 to create environmentally friendly feeding strategies to achieve productivity targets for cattle livestock. It is aimed at assisting farmers in the United States to meet their requirements for animal nutritional solutions and feed additives based on algae.

At BIOFACH in July 2022, Allmicroalgae Company presented its microalgae-based solutions for Spirulina and Chlorella together with other natural and nutraceutical food products. This development is expected to advance the chlorella animal nutrition segment with a prominent focus on the feedstock used for swine and poultry cultivation.

Fermentalg Inc. announced in the year 2021 about developing KALVEA Plus, which is a novel super-nutritious algal protein concentrate for aquafeed uses.

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Key Segments Covered by Algae-based Animal Feed Industry Survey Report

By Additive Type:

  • Feed Preservatives
  • Feed Emulsifiers
  • Feed Acidifiers
  • Feed Additives
  • Feed Probiotics
  • Feed Enzyme
  • Feed Colorants
  • Feed Flavors
  • Feed Sweeteners
  • Nutritional Additives
  • Other Feed Additives

By Form:

  • Liquid
  • Dry
  • Granules

By Livestock:

  • Ruminants
  • Poultry
  • Swine
  • Aquaculture
  • Other Livestocks

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 Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
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Crowdsourced Testing Market Projected to Reach $7.09 Billion by 2033 with Strong Growth in Website Testing

According to a recent market analysis report by Future Market Insights, the crowdsourced testing market is experiencing rapid growth, with global sales estimated to reach US$ 2.90 billion in 2023. Projections indicate a strong CAGR of 9.3% from 2023 to 2033, suggesting that the market is poised to achieve a remarkable valuation of US$ 7.09 billion by 2033. This surge in demand highlights the increasing adoption of crowdsourced testing as an effective and efficient method for software testing across various industries.

Crowdsourced testing is pivotal in software and applications testing, utilizing an external group of testers from diverse demographics and backgrounds. This approach harnesses the crowd’s collective intelligence to identify bugs, streamline interactive software manufacturing, and enhance software products.

One of the significant advantages of crowdsourced testing is its scalability, benefiting both enterprises and testers. Enterprises can rely on the valuable feedback provided by external testers. This allows them to evaluate their software’s performance across various devices, operating systems, and user scenarios. Additionally, testers have the opportunity to participate in testing projects for multiple companies, offering flexibility and earning potential.

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The rapid digital transformation has led to a surge in technological adoption worldwide. This leads to an increase in the usage of digital products and software. Consequently, it has become imperative for businesses to adopt effective approaches to test their applications strategically. This ensures an enhanced consumer experience and guards against potential threats from bugs and glitches. In response to this growing need, businesses have significantly increased their investments in end-user testing solutions, particularly in crowdsourced testing. This upswing in demand has created a thriving market for crowdsourced testing services.

In the crowdsourced testing market context, there are legitimate concerns surrounding privacy breaches and the sharing of sensitive information with external testers, especially when dealing with proprietary software. These apprehensions could potentially hinder the growth prospects of crowdsourced testing services. Additionally, a challenge faced by the industry is the scarcity of highly skilled testers in specific domains. This may lead to oversights during the testing process, potentially impacting the thorough evaluation of crucial functionalities.

Key Takeaways

  • The report by FMI suggests that the Asia Pacific region is poised to become a significant growth area in the forecast period. According to the report, India is expected to experience substantial growth with a CAGR of 12.3% through 2033, while China is projected to grow at a CAGR of 10.3%. These growth rates indicate promising opportunities for businesses and investors in the region.
  • North America is expected to retain a prominent position in the crowdsourced testing market, primarily due to government support provided to major regional players. Additionally, continuous technological advancements are further bolstering the market growth in this region. As of 2022, the United States held a substantial global market share of 18.4%, underscoring its significance in the industry’s landscape.
  • After North America, Europe holds a significant portion of global market shares and is expected to experience rapid growth in the forecast period. In 2022, Germany accounted for a global market value of 7.0%, indicating its notable presence in the industry. The crowdsourced testing market in Europe is thriving, driven by the presence of established players and the continuous expansion of the IT sector, which further enhances its potential for growth and innovation.

Competitive Landscape

Intense competition in the crowdsourced testing market has compelled key companies to focus on reducing manufacturing and production costs, aiming to gain a competitive edge over their rivals. Numerous companies are resorting to strategic approaches like mergers and acquisitions to broaden their consumer base and expand their businesses. The market landscape is a dynamic mix of established players currently dominating the market and several startups and emerging players making their mark. Companies are offering specialized testing services and enhancing their testing platforms to expand their global testing community.

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Recent Market Developments 

  • June 2023: Infosys, a world leader in next-generation digital services and consulting, entered a partnership with Skillsoft, a leading provider of transformative learning experiences, aiming to revamp education and learning for middle school students in India. Infosys Springboard intends to give students access to Skillsoft learning content designed to build technology and business.
  • June 2023: Cigniti Technologies, a global leader in AI and IP-led Digital Assurance and Digital Services, collaborated with Mahatma Gandhi Institute of Technology (MGIT), an educational institute based out of Hyderabad, with an aim to launch an innovative training program to bridge the gap between academia and industry and empower future IT Professionals.

Key Segments Covered in Crowdsourced Testing Industry Survey

Crowdsourced Testing Market by Testing Type:

  • Performance Testing
  • Functionality Testing
  • Usability Testing
  • Localization Testing
  • Security Testing
  • Others

Crowdsourced Testing Market by Platform:

  • Website Testing
  • Mobile Testing
  • Others

Crowdsourced Testing Market by Organization Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises

Crowdsourced Testing Market by Vertical:

  • Retail
  • BFSI
  • IT and Telecom
  • Healthcare and Life Sciences
  • Media and Entertainment
  • Others

Crowdsourced Testing Market by Region:

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

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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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Contract Management Software Market: Projected to Reach Nearly $2,448.7 Million by 2023 with Significant Growth Ahead

The global contract management software market size is expected to surpass a valuation of US$ 2,488.7 million in 2023. It is likely to cross a value of US$ 8,263.3 million by the end of 2033. The contract management software market is estimated to showcase a 12.9% CAGR from 2023 to 2033. Several small and medium-sized enterprises are adopting cloud-based solutions globally, along with dominant businesses. This has led to the contract management software industry expansion and is expected to boost market growth in the forecast period.

The introduction of AI-based contract management software solutions has offered endless potential to market players. Managing innumerable data has become easy, and millions of contract details may be maintained and tracked effectively. With the growing popularity of AI-based tools, AI-based contract management software is expected to lower the expenses of contract production. It also enables legal professionals to concentrate more on higher-value tasks rather than wasting time on tedious legal reviews. These factors combined are anticipated to create growth prospects for market players in the contract management software market in the projected period.

With the expansion of the medical sector and the healthcare industry, the contract management software sector is expected to grow more prominently. This is owing to the popularity of contract management software as a tool to aid the pharmaceutical industry in effectively managing payments and maintaining their accounts more efficiently. The attempts at reducing operational costs to enhance workflow by digitizing and bringing about digital transformation is expected to provide a massive growth opportunity for the players in the contract management software market in the forecast period.

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The rising trends of working from home and remote working have highlighted the significance of collaborative tools for digital transformation. Contract management software provides remote teams a platform to ally contract creation, negotiation, and approvals without their location being a barrier. This contributes to the increasing adoption of contract management solutions across the world.

Key Takeaways 

  • Based on research by analysts at FMI, the global contract management software industry in the Asia Pacific region is likely to come out as the most lucrative market in the forecast period, with several startups and emerging players coming forward. India is expected to expand at a CAGR of 14.5% in the forecast period, and China with a CAGR of 12.3%.
  • The market players in North America are already dominating the global contract management software market because of their increasing adoption of cloud-based solutions. The United States market for contract management software held a global share of 16.5% in 2022.
  • Owing to the increased availability of technology and its advancements in the field of contract management software, the United Kingdom is anticipated to take a rise with a healthy CAGR of 10.4% by 2033.

Competitive Landscape

The key strategy being used by dominant players in the contract management software industry is investments in research and development to innovate new cloud-based solutions and hold a competitive edge against competitors. To increase their digital footprint, market players are expanding their consumer base to online platforms and adopting strategies such as mergers and acquisitions.

Recent Developments 

  • Aavenir, a leader in AI-enabled source-to-pay solutions, in the first half of 2023 introduced new capabilities to its flagship products, ContractFlow and RFPflow, that empower Aavenir’s consumers to source and contract in a smarter way.

Agiloft, a Contract Lifecycle Management (CLM) leader, announced its strategic partnership and technological integration with Mitratech, a leader in legal, compliance and HR software. This partnership offers legal guidance with a complete view of commercial and legal activities, empowering business leaders.

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Key Segments Covered in Contract Management Software Industry Survey

Contract Management Software by Component:

  1. Software
  2. Services
  3. Consulting
  4. Implementation
  5. Support and Maintenance

Contract Management Software by Technology:

  • On-Premises
  • Cloud

Contract Management Software by Organization Size:

  • SMEs
  • Large Enterprises

Contract Management Software by Business Function:

  • Legal
  • Sales
  • Procurement
  • Others (IT, HR, and Finance)

Contract Management Software by Vertical:

  • Government
  • Retail and Ecommerce
  • Healthcare and Life Sciences
  • Banking, Financial Services and Insurance
  • Transportation and Logistics
  • Telecom and IT
  • Manufacturing
  • Others

Contract Management Software Market by Region:

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

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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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Specialty Shortenings Market Forecasted to Achieve USD 7.1 Billion Revenue by 2032, Growing at 4.5% CAGR

Specialty Shortenings

The global specialty shortenings market is said to register a CAGR of 4.5% from 2022 to 2032, intended to earn revenue of US$ 7.1 Bn by 2032, up from US$ 4.6 Bn in 2022.

Specialty shortenings are the fatty substances that are majorly used in the bakery and confectionery products. The use of specialty shortenings enables to have a crisp structure and stability in the products such as bread, fillings, icing, and cake. Some other desirable characteristics of the specialty shortenings include bland or pleasant flavour, good shortening power, and long shelf life.

Traditionally cocoa butter has been used as a shortening however, the hike in the prices of cocoa butter has led to the search for the alternatives in the specialty shortenings in the global market. Kokum butter extracted from kokum seed kernels is one such example of the alternative solution, which finds use in cosmetic products. The ease of handling of specialty shortenings across all purposes is creating a positive outlook in the global specialty shortenings market. The products of specialty shortenings are available in dry and liquid form, which can be derived from plants as well as animals.

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Plant-based Ingredients Increasing Popularity is also Creating Increased Opportunity for the Plant-based Specialty Shortenings in the Global Market

The global specialty shortenings market is driven by the increasing consumption of processed food and beverage industry around the world. Bakery and confectionery industry is flourishing and expanding at a rapid speed, especially in the Asian countries. The adoption of Western lifestyle and diet habits has resulted in the spread of café culture and specialty bakery franchises in Asia and the Middle East and Africa. With the consumer shift in food habits and easy access is creating a positive outlook in the global specialty shortenings market. Additionally, the global market of specialty shortenings market is also driven majorly by the increasing consumption of chocolate. Chocolate is becoming more popular for its effect in the relieving stress and uplifting the mood, which has affected the increase in the demand for specialty shortenings.

The specialty shortenings are also used in the other industries besides the food and beverage industry such as cosmetics and personal care and pharmaceutical products. The use of cosmetics and personal care products has been steadily increasing in the world, owing to the increased consumer awareness about the products and increased access. Moreover, the emergence of gender-specific cosmetics and personal care products is resulting in the expansion of the cosmetic industry. This, in turn, is increasing the demand for specialty shortenings in the global market.

Specialty Shortenings Market: Key Participants

Some of the market participants in the specialty shortenings market are:

  • Bunge North America, Inc.
  • Cargill, Inc.
  • Archer Daniels Midland Company
  • Ventura Foods
  • Musim Mas Holdings Pte. Ltd.
  • Sime Darby Kempas Sdn. Bhd.
  • Tate & Lyle Plc.

The report covers exhaustive analysis on:

  • Specialty Shortenings Market Segments
  • Specialty Shortenings Market Dynamics
  • Specialty Shortenings Market Size
  • Specialty Shortenings Supply and Demand
  • Current Trends/Issues/Challenges pertaining to Specialty Shortenings Market
  • Competition Landscape and Emerging Market Participants in Specialty Shortenings Market
  • Technology related to Production/Processing of Specialty Shortenings
  • Value Chain Analysis of the Specialty Shortenings Market

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
  • East Asia (China, Japan, South Korea)
  • South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
  • Oceania (Australia, New Zealand)
  • Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

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Specialty Shortenings Market Segmentation

The specialty shortenings market can be segmented on the basis of form, Source, end use, and distribution channel.

On the basis of form, the specialty shortenings market can be segmented as:

  • Dry
  • Liquid

On the basis of source, the specialty shortenings market can be segmented as:

  • Plant-based
  • Animal-derived

On the basis of end use, the specialty shortenings market can be segmented as:

  • Food and Beverage
  • Bakery and Confectionery
  • Dairy
  • Sauces, Soups, and Dressings
  • Cosmetics and Personal Care Products
  • Pharmaceutical

On the basis of distribution channel, the specialty shortenings market can be segmented as:

  • Direct Sales Channel/ B2B
  • Indirect Sales Channel/B2C
  • Hypermarket/Supermarket
  • Specialty Stores
  • Online Retail
  • Mass Grocery Stores
  • Other Retail Format

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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Cognitive Health Supplement Sales Expected to Expand Dramatically, Predicting a Valuation of USD 16.8 Billion by 2033

The global cognitive health supplement market is estimated to reach a valuation of US$ 9.0 billion in 2023. By 2033, global cognitive health supplement demand is expected to surge at a 13.3% CAGR. By 2033, the total market is projected to reach a valuation of US$ 16.8 billion.

The cognitive health supplement market stands at the intersection of cutting-edge research and the growing awareness of mental wellness. Scientific advancements have paved the way for innovative formulations, incorporating natural compounds to bolster brain health.

The market evolution has led to the discovery of diverse cognitive health supplements tailored to address a wide array of consumer needs. Moreover, the emphasis on holistic well-being has fuelled the market’s growth, driving consumers to explore supplements that promote mental sharpness and cognitive agility. Manufacturers are leveraging unique sourcing methods and sustainable practices.

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They craft supplements that enhance cognitive functions and align with eco-friendly and ethical principles, resonating with the conscientious consumer. Also, the cognitive health supplement market has expanded beyond traditional capsules and tablets.

Innovative products such as nootropic drinks, gummies, and powders have gained traction, offering consumers convenient and enjoyable ways to boost cognitive functions. Consumer awareness regarding the importance of cognitive health has spurred the demand for supplements catering to specific cognitive aspects.

Supplements targeting stress management, sleep quality, and mood enhancement have gained popularity, reflecting a holistic approach toward mental well-being. In this dynamic landscape, the cognitive health supplement market continues to expand, offering a plethora of options designed to enhance mental acuity, boost memory, and support brain health, catering to a diverse and discerning global clientele.

Key Takeaways from the Cognitive Health Supplement Report-

  • The cognitive health supplement market is expected to be valued at US$ 9.0 billion by 2023.
  • Global demand for cognitive health supplements will likely soar at 13.3% CAGR over the forecast period.
  • Based on form, capsules are expected to hold a market share of 31.0% and reach a valuation of US$ 5.21 billion by the end of 2033.
  • Based on sales channels, pharmacies and drugstores are expected to hold a market share of 27.6% and reach a valuation of US$ 4.6 billion by 2033.
  • Germany’s increasing emphasis on well-being is expected to help the market attain a CAGR of 5.3% and reach a valuation of US$ 2.5 billion in 2033.
  • China is expected to witness a CAGR of around 6.8% to reach a market size of US$ 3.4 billion in 2033.

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Competitive Landscape

Purelife Bioscience Co., Ltd., Quincy Bioscience, LLC., Accelerated Intelligence Inc., Onnit Labs, LLC., AlternaScript LLC, KeyView Labs, Inc., Liquid Health, Inc., Aurobindo Pharma Limited (Natroll, LLC), Natural Factors Nutritional Products Ltd., and HVMN Inc. are key cognitive health supplement manufacturers listed in the report.

Key companies are expanding their product portfolios, employing strategies such as advertising, partnerships, acquisitions, agreements, and mergers to maintain market relevance and drive growth in the cognitive health supplement market.

For instance,

  • In April 2020, New Chapter, Inc. introduced a range of organic multi-herbal supplements designed to enhance consumers’ essential multivitamin intake. The line-up comprises four variants – energy boost, stress relief, sleep well, and holistic supplements. These products incorporate natural herbs such as ashwagandha, black cumin, and ginger to enhance cognitive health.
  • In April 2020, The Life Extension Foundation unveiled a lithium formula supporting healthy cognitive function, brain health, and potential longevity. The formula is available in the form of 1000mcg vegetarian capsules, providing consumers with a convenient option for maintaining cognitive well-being.

Cognitive Health Supplement Market Outlook by Category

By Product Type:

  • Omega-3 Fatty Acids
  • Ginkgo Biloba
  • Vitamins and Minerals
  • Herbal Supplement
  • Probiotics and Prebiotics

By Form:

  • Chewable
  • Capsule
  • Tablet
  • Powder
  • Liquid

By Sales Channel:

  • Pharmacies and Drugstores
  • Specialty Health and Wellness Stores
  • Hypermarkets/Supermarkets
  • Online Retailers

By Functionality:

  • Memory Support
  • Focus and Concentration Improvement
  • Boosting Cognitive Performance
  • Stress and Anxiety Management
  • Mood Enhancement

By Region:

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

Explore FMI’s related ongoing Coverage in Food and Beverage Domain:

The global probiotic supplement market size is expected to reach US$ 7,524.6 million in 2024. It is projected to exhibit steady growth during the forecast period, with global demand for probiotic supplements rising at 11.2% CAGR. The market is projected to reach US$ 23,874.5 million by 2034.

The liquid feed supplements market size is projected to be valued at US$ 6,155 million in 2023 and is expected to rise to US$ 10,072.6 million by 2033

The global dietary supplement market size is expected to attain a valuation of around US$ 170.1 billion by 2034. The market is anticipated to witness a steady CAGR of 9.5% in the assessment period 2024 to 2034

The global digestive health supplements market size is estimated to reach US$ 17,160 million in 2023. With demand expanding at a 6% CAGR, the market size is projected to reach US$ 29,648.6 million over the forecast period.

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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