Market Research Blog – Page 2072 – New Product Development

Future Trends in the Nutraceuticals Sector | Future Market Insights, Inc.

The global nutraceuticals market value is likely to jump from US$ 418,080 million in 2023 to US$ 703,122.075 million by 2033. This anticipated growth is expected to be driven by a steady CAGR of 5.3% in nutraceutical sales over the next decade.

The nutraceutical sales are set to keep growing. People like them because they are easy to store, can do many good things at once, and people are learning more about them. The popularity of nutraceutical products is going up fast. People are learning more about how nutraceuticals and their supplements can be good for their health. They help with health problems like obesity, heart disease, cancer, high cholesterol, arthritis, and diabetes.

Key Highlights

Dietary health is a primary focus of the nutraceuticals market, with products targeting specific health conditions and dietary needs.
The global market is also witnessing a surge in demand for halal nutraceuticals & vaccines.
More than 90% of the global nutraceuticals market is attributed to developed nations, including the United States, Europe, and Japan.
The United States has been a leader in the global nutraceuticals market and is projected to maintain its dominance. Its strong pharmaceutical and dietary supplement industry and high demand for functional foods and beverages support this domination.
Nutraceutical companies are expanding their presence in traditional retail channels and the growing e-commerce sector.

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More people are living in cities, spending money on health stuff, and dealing with heart, chronic, and obesity problems. This is why the nutraceuticals market is growing rapidly. Functional foods have omega fatty acids that help individuals keep a healthy weight and improve blood circulation.

Many people have become aware of herbal products and natural foods lately. They prefer these over foods with chemicals. This trend is especially strong in North America and Europe. In these two regions, people are willing to spend more on natural products.

There are also new types of nutraceuticals like gummies, jellies, and soft gels coming into the market. Preference for these variants is growing because they come in various shapes, sizes, flavors, and strengths. Kids are also getting into these kinds of nutraceuticals, which is making the market develop.

New technology in the nutraceutical industry is making people want these products more. They are utilizing contemporary technologies like AI to give people personalized advice based on their diet and health. Consequently, AI is going to be really important for the nutraceutical industry to grow all around the world during the forecast period.

“In the Nutraceuticals Market, probiotics play a transformative role in enhancing mental and physical health. These beneficial microorganisms are reshaping the industry by promoting better digestion, immune support, and improved overall well-being through nutraceutical products.” Says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.

Key Takeaways from the Nutraceuticals Market:

In 2022, the United States asserted its dominance in the nutraceuticals industry, boasting a commanding 23.4% global market share, underpinned by its robust research and development capabilities.
The nutraceuticals industry in the United Kingdom is poised for substantial growth, with a projected CAGR of 7.8% through 2033, driven by increasing consumer awareness of health and wellness.
Japan’s 2.4% share of the nutraceuticals industry in 2022 was bolstered by its reputation for producing high-quality and innovative health and wellness products.
India’s rapid development in the nutraceuticals industry, with a CAGR of 4.4% over the forecast period, is driven by a growing trend towards natural and organic products.
Germany’s significant 12.9% share of the global nutraceuticals industry in 2022 can be attributed to its reputation for high-quality manufacturing standards
China’s anticipated rise in the nutraceuticals industry, with a projected CAGR of 6.5% over the forecast period, is propelled by a surge in demand for dietary supplements.

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Key Players and Strategies for Success in the Nutraceuticals Market

In recent years, the nutraceuticals industry has emerged as a dynamic and rapidly expanding sector within the global market. In this dynamic landscape, key players employ multiple strategies to meet the evolving needs of consumers and establish their foothold in an increasingly competitive market. Here are key points about key players and strategies for success in the nutraceuticals market:

Invest in research to develop innovative and effective nutraceutical products.
Create strong branding and marketing campaigns to stand out in a competitive market.
Stay up-to-date with regulations and ensure products meet compliance standards.
Collaborate with healthcare professionals, fitness influencers, or retail chains to expand distribution.
Stay adaptable to changing consumer preferences and health trends in the market.

Recent Developments the Nutraceuticals Market

In June 2022, Kellogg’s Special K introduced new Protein Snack Bars. These bars have 6 grams of protein and only 90 calories. They come in sweet berry vanilla and rich chocolaty brownie sundae flavors.

In April 2021, Nestlé NIDO 3+ unveiled a better recipe designed specifically for kids aged three to five. This new and improved recipe has just the right amount of Vitamin A, Zinc, and Iron, the nutrients young children need.

Key Companies Profiled in the Nutraceuticals Market

General Mills Inc.
The Natures Bounty Co. (NBTY)
Amway Enterprises
Herbalife International, Inc.
Royal DSM NV
Pepsi Co.
Yakult Honsha Co., Ltd.
Groupe Danone
Bayer AG
BASF SE
Abbott Laboratories
Chobani LLC

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Nutraceuticals Market by Category

By Product Type:

Functional Foods
- Probiotics fortified foods
- Omega fatty acid fortified foods
- Branded Iodized salt
- Branded Flours
Functional Beverages
- Energy Drinks
- Sports Drinks
- Fortified Juices
- Fortified Dairy Beverages
- Others Functional Beverages
Dietary Supplements
- Protein Supplements
- Vitamins and Minerals
- Herbal Supplements
- Other Dietary Supplements

By Form:

Soft-Gels
Capsules
Liquids
Tablets
Powder & Granules

By Sales Channel:

On Direct Sales/B2B
Indirect Sales/B2C
- Health & Beauty Store
- Pharmacies/Drugstores
- Modern Trade Channel
- Online Retailing

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle east and 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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Cold-Pressed Oil Market Soars: What’s Driving the Growth?

By 2024, global cold-pressed oil market is forecasted to hit a value of US$ 23,431.5 million. Anticipated to grow at a CAGR of 5.10% between 2024 and 2034, it’s expected to reach approximately US$ 38,426.4 million by 2034. Due to a greater understanding of health and well-being, consumers’ eating habits and nutritional patterns have changed. The demand for cold-pressed oil is rising, as a result, it is anticipated to lead to an increase in sales of cold-pressed oil in the market throughout the forecasted period.

Furthermore, consumers are willing to pay a greater premium for nutritious components and products. The cold-pressed oil market size is being positively impacted by the healthy eating categories’ rapid expansion relative to the decadent ones.

The Cold-Pressed Oil market is experiencing remarkable growth as consumers increasingly prioritize natural and healthy oils in their diets. With the cold-pressing process retaining the nutritional integrity of oils, such as olive, coconut, and sunflower, their popularity is surging. Rising awareness of the benefits of cold-pressed oils fuels the market’s expansion in the food and cosmetic industries.

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Consumers are urging food companies to increase the transparency of their products, going past ingredients, free-from status, and nutritional levels. Due to this, the sales of cold-pressed oil are likely to rise by end-users.

Thus, with increasing demand for cold-pressed oil, several food product manufacturers are using ingredients to increase the overall quality and nutritional level of their final product which is anticipated to boost the cold-pressed oil market size.

In addition to this, demand for cold-pressed oil along with demand for functional food products is also significantly increasing around the globe. This growing demand is leveraging the growth of cold-pressed oil, fortified edible oil and seed oils over the forecast period.

Key Takeaways from Market Study

The cold-pressed oil market growth is expected to expand at a CAGR of 5.2% and 7.4% in Latin America and the Middle East & Africa, respectively through 2032.
Among the type segment, palm oil is dominating the cold-pressed oil market trends holding more than 18% share in 2022 and it is expected to grow with a CAGR of 2.8% over the forecast period.
Among the application segment, the food industry is dominating the cold-pressed oil market size holding more than 50% share in 2022 and it is expected to grow with significant CAGR of 3.6% over the forecast period.
The B2B is dominating the distribution channel segment holding around 70% share in 2022 and it is expected to grow with CAGR of 3.6% which is likely to rise the sales of cold-pressed oil during the forecast period.

Competitive Landscape

The key players involved in the cold–pressed oil market statistics to strengthen their research and development activities to increase the yield and improve extraction technology which is offering significant growth opportunities for the overall cold–pressed oil market trends.

In addition to this, understanding the growing demand for cold–pressed oil several key players in the oil market are entering the cold – pressed oil market by introducing their cold-pressed oil range of products.

For Instance

In September 2020, Dabur which is one of India’s prominent natural health care companies entered the edible oil segment by introducing their cold-pressed mustard oil.

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global cold-pressed oils market key trends & opportunities, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on application (food industry, agriculture, cosmetics and personal care industry), type (cottonseed oil, rapeseed oil, palm oil, peanut oil, coconut oil, olive oil, palm kernel oil, soybean oil, sunflower seed oil) and sales channel (B2B, B2C (hypermarkets/supermarkets, convenience stores, speciality stores, retail store, online retail) across seven major regions of the world.

Cold-Pressed Oil Market by Category

By Application :

Food Industry
Cosmetics and Personal Care Industry
Agriculture

By Type :

Peanut Oil
Coconut Oil
Rapeseed Oil
Cottonseed Oil
Soybean Oil
Olive Oil
Palm Oil
Sunflower Seed Oil
Palm Kernel Oil

By Distribution Channel :

B2B
B2C
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Retail Stores
- Online Retail

By Region :

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

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GMO Testing Market on the Rise: Expected to Reach USD 4.6Billion with CAGR 7.8% By 2032 | FMI

The global GMO testing services market is estimated to reach US$ US$ 4.6 Billion by 2032, with demand increasing at a 7.8% CAGR throughout the forecast period. The GMO testing services industry is estimated to account for around 11% of the food testing services market, which is expected to be worth US$ 20 billion by the end of 2022.

Increased investments and breakthroughs in biotech research are driving the growth of the GMO testing market. GMOs are creatures whose DNA structure has been altered using biotechnology technologies used to generate high-quality food.

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Furthermore, in reaction to the implementation of legislative bills such as the GMO labelling law, food manufacturers are having their products confirmed as GMO-free in order to meet the growing demand. As a result, demand for non-GMO products, as well as the necessity for sophisticated technology to analyse next-generation GMO features, will likely drive the global GMO testing market in the future years.

The GMO Testing Services Market is witnessing rapid growth due to increased awareness and regulatory requirements for genetically modified organisms (GMOs) in food and agriculture. With rising concerns about food safety and transparency, demand for reliable GMO testing services is on the rise, paving the way for market expansion.

“Increasing production of diverse processed food products using genetically modified crops, as well as technological advancements in modern farming techniques across the globe will provide an impetus to sales in the market over the assessment period,” says an FMI analyst.

Key Takeaways:

The global GMO testing services market is anticipated to reach a valuation of around US$ 2.2 Bn by 2022 end
The market is segmented based on technology, wherein Polymerase Chain Reaction (PCR) GMO testing services is anticipated to account for around 50% of the market share over the forecast period.
The North America GMO testing services market is expected to witness a lucrative growth rate of 7.5% during the forecast period.
Use of GMO testing services for meat & meat products to become a lucrative in the coming years
East Asia is expected to emerge as a prominent market for GMO testing services market in the forecast period

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Competitive Landscape

The global GMO testing market is fragmented, with prominent competitors striving to gain a competitive edge, particularly in developed regions where regulatory compliance is rigorous and public awareness of food authenticity is high. For instance:

In December 2021, ALS Limited announced the acquisition of MinAnalytical Laboratory Services Australia Pty Ltd, a Geochemistry testing company to expand their operations in Australia.

Leading Companies Profiled in GMO Testing Services Market are

Interrtek
SGS SA
Eurofins
ALS Limited
Thermo Fisher Scientific, Inc.
TÜV SÜD AG
Merieux Nutrisciences
Bio-Rad Laboratories

Explore More Valuable Insights

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

GMO Testing Services Market by Category

By Technology:

ELISA Test
Polymerase Chain Reaction (PCR)

Lateral Flow Devices (LFD)

By Crop Type:

Corn
Rapeseed/Canola
Soy

Potato
Tomato
Other Crops

By Trait:

Herbicide tolerance

Stacked
Insect resistance

By Food Type:

Meat & meat products
Food additives
Bakery & confectionery
Breakfast cereals & snacks
Infant food
Others

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Rice Milk Market: Surging Demand and Growth Prospects Explored by FMI

The rice milk market is registering a valuation of US$ 0.639 billion in 2023 and is projected to reach US$ 1.3 billion by 2033. The market is capturing a CAGR of 6% during the forecast period.

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How is the Popularity of Rice Milk Growing Among Consumers?

The popularity of rice milk is rapidly growing among consumers due to several factors, including:

Plant-based Trend: The increasing demand for plant-based and vegan trends is advancing the global market. The demand for rice milk is growing due to lactose intolerance and rising allergies to milk.
Digestive Benefits: Adopting rice milk among consumers improves the digestion system with its natural ingredients. It is one of the suitable alternatives for the stomach as compared to milk.
Allergen-free: Rice milk is made up of natural and organic flavor ingredients. It is sustainable without allergens such as soy, lactose, and nuts.
Mild Flavor: The demand for rice milk is rising due to its sweet, mild, natural flavor. Rice milk is a standalone beverage with versatile ingredients.
Nutritional Profile: Rice milk is lower in fat than other milk. It provides better nutrition, vitamins and minerals, and essential nutrients such as vitamins B and D.
Sustainable Option: The demand for rice milk is increasing due to its sustainability and lower greenhouse gas emissions than dairy milk, such as cow’s milk.
Variety: Rice milk is popular plant-based and is available in oat, soy, and almond milk varieties.

Key Takeaways:

The rice milk market is predicted to register a CAGR of 6% with a valuation of US$ 1.3 billion in 2033.
In the historical period, the market secured a CAGR of 2.4% between 2018 and 2022.
India is estimated to lead the global market by securing a CAGR of 7.8% by 2033.
Based on end use, the food & beverages sector is estimated to register a share of 21.5% during the forecast period.
The market is anticipated to capture a valuation of US$ 0.639 billion in 2023.

How Key Players Are helping surge the Global Market?

Key players focus on developing sustainable, lactose-free rice milk to expand the global market. These key players are adopting marketing tactics, including collaborations, mergers, acquisitions, product launches, and agreements.

Key players are launching new products in the global market with exotic flavors and organic ingredients additions. A few of the prominent players in the market are as follows:

Dream Plant-based: The company offers dairy-free alternatives to their customers with a clean label and eco-friendly sourcing.
Vitasoy: The company provides soy-based products to their customers with the high-quality and wide availability of beverages.
Earth’s Own: This company provides plant-based and vegan beverages to its consumers. They are promoting their brand with distribution channels.

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Recent Developments in the Global Market:

In 2022, Ebro Foods announced its newly launched rice milk product with 100% organic ingredients. They offer non-toxic, artificial sugar-free rice milk containing 16% of rice content.
In 2021, Linda McCartney launched its plant-based rice milk with different types of varieties, including organic rice and organic soya.

Market Categorization:

By Distribution Channel:

Supermarket & Hypermarket
Online Retails
Others

By Form:

Powder
Liquid

By Source:

Organic
Conventional

By End Use:

Food & Beverages
Nutraceuticals & Baby Food
Personal Care
Pharmaceuticals
Others

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Cheese Market Set to Skyrocket: Explore Growth Opportunities and Trends

The cheese market is expected to expand from US$ 95.0 billion in 2023 to US$ 160.0 billion by 2033.

In recent years, demand for processed cheese has increased due to the product’s longer shelf life, pleasing flavour profile, and diversity at a cheaper price point than other varieties of cheese on the market.

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Key Takeaways:

The cheese market is expected to expand at a CAGR of 5.4% during the forecast period 2023 to 2033.
Rising demand for vegan cheese, as well as increased sales of cheese for home applications, are expected to drive the market throughout the forecast period.
North America dominated the cheese market.

Key Developments

In March 2021, Dalter Alimentari Spa debuted a new cheese cut, new cheese matchsticks, a market-exclusive cut designed to deliver great results. This product meets the requirements of the food manufacturing and food service industries. It is commonly used as an ingredient in ready meals, salads, soups, and sauces, as well as fillings and stuffing.
Glanbia completed the acquisition of Foodarom in August 2020. (Germany). Glanbia’s capabilities in tastes and nutritional solutions were strengthened as a result of the acquisition.
In June 2022, Land O Lakes Cheese released Land O Lakes Shredded Cheese, a cheese line that includes seven cheese products in the grocery store’s dairy case section, in Wisconsin, United States. The cheese supply chain begins with Wisconsin farmers, who provide milk that is sent to the Land O’Lakes Kiel, Wisconsin plant where the cheese is made.
In May 2021, Arla Foods, a Danish dairy cooperative, invested around US$ 8.2 million in the construction of a new cheese production facility in Japan. Arla announced plans to develop two extra ripening warehouses, new cheese machinery, and a new drainage room at Troldhede Dairy in West Jutland, its home market.
Heritage Foods entered the cheese product market in February 2021, introducing processed and mozzarella cheese. Heritage says that its processed cheese and mozzarella cheese are made from 100% cow milk. The company’s freshly announced cheese products were touted to possess a naturally occurring cheesy flavor suited for ingestion by people of all ages.
The Kraft Heinz Company announced in November 2021 that it had completed the sale of some assets in its global cheese business, as well as the licensing of certain trademarks. This was done for a Groupe Lactalis affiliate for a total of roughly $3.3 billion. This amounts to roughly US$ 3.2 billion in cash consideration.
Kraft Heinz is going to launch vegan cheese singles in three flavors in October 2022. This year, Kraft Heinz and food tech firm NotCo may release a dairy-free version of traditional Kraft singles American cheese slices. This is one of the first goods to be released as a part of their collaboration.

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Cheese Market by Key Segment

By Nature:

Organic Cheese, which caters to health-conscious consumers, is gaining popularity due to its eco-friendly cultivation methods.
Conventional Cheese remains a staple choice, appealing to traditional tastes and preferences.

By Source:

Dairy-based Cheese, deriving from milk, continues to dominate the market, valued for its rich taste and texture.
Plant-based Cheese, crafted from alternative sources, is embraced by the growing vegan and lactose-intolerant consumer base.

By Product Type:

Mozzarella offers its signature stretchy texture, making it a go-to choice for pizzas and various dishes.
Cheddar’s sharpness and versatility make it a sought-after option for both snacking and cooking.
Pepper Jack, known for its spicy kick, adds flavor to sandwiches and Mexican cuisine.
Parmesan’s robust taste complements pasta, salads, and more.
Gouda’s smooth and nutty profile makes it a versatile favorite.
Other diverse cheese varieties continue to captivate adventurous palates.

By Form:

Block, Cube, Shreds, Slices, Spread, Powder, and Sticks offer convenient options for diverse culinary needs.

By End Use:

The Food and Beverage Industry integrates cheese in various recipes, enhancing taste and texture.
HoReCa establishments rely on cheese to elevate their menu offerings.
Household Retail caters to consumers seeking cheese for personal use and family meals.

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By Sales Channel:

B2B transactions facilitate bulk purchases for industries and businesses.
B2C interactions engage individual consumers directly.
Modern Trade, Convenience Stores, Traditional Grocery Stores, and Specialty Stores ensure widespread accessibility.
Online Retail gains momentum, providing convenient cheese shopping experiences.
Other Retail Formats offer additional avenues for cheese distribution and availability

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Global Insect Feed Market to Surge to $8.1 Billion by 2033 with 17.9% Annual Growth | FMI

The total worth of the global insect feed market could be around US$ 1,561 million in 2023. Over the forecast years from 2023 to 2033, the worldwide demand for insect feed is expected to grow annually at a rate of 17.9%. By the end of 2033, the net worth of the market is projected to reach US$ 8,124 million.

As many animals ingest the insects naturally, it makes sense to think about using insect proteins as a potential source of commercial feed additionally, because insects include bioactive components, they are increasingly being used as innovative feed additions to promote the gut health of pet animals.

Sales of animal feed additives are also expected to be constrained by the strict laws and regulations related to introducing new insect feed. For example, the Bovine Spongiform Encephalopathy problem poses a crucial threat to consumer health and safety, impacting the overall approach of using insects as feed in Europe. Another main roadblock to adopting insects as feed in many places is the lack of clear laws and standards governing their usage as food.

“Prominent industries producing animal feed have started investing in research to produce cutting-edge insect feed products to expand consumer base in the international market. Besides, some insect feed suppliers are working with other producers to include their goods in preparation of the final product for livestock.” – Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).

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The aquafeed industry has always been on the search for potential sources of nutrition. As a result, mealworms and fly larvae are becoming more popular. The demand for alternative and economical sources of protein, like eatable insects for animal feed is increasing as fisheries output grows. Insect feed is projected to become more popular in chicken and pork nourishment as well as in aquaculture

Insect protein is used to make processed foods that are packaged and ready to consume. Protein bars and powdered protein shake, as well as several foods, include insect protein. Evidently, the switch in insect protein utilisation for food products will open new growth opportunities over the anticipated timeframe

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Key Takeaways from the Global Insect Feed Market Study Report by FMI

The United States captured most of the global market and is predicted to contribute US$ 491.7 million in 2023.
Germany is the leading supplier of insect feeds in Europe and it may contribute to nearly 5.8% of the global market share in 2023.
Insect feed demand is rising in China and South Korea, which is expected to lead to strong growth in the Asia Pacific. In 2023, the two countries are estimated to contribute nearly 15.8% and 2.8% of the global revenue share respectively.
Australia is another emerging market for insect feeds in the Asia Pacific with an estimated global market share of 1.9% in 2023.
With an overall market share of nearly 43% in 2023, the aquaculture segment is expected to lead the market among end users.

“Manufacturers of insect feed components may make considerable profits by focusing on the protein source business, “the insect nutrition sector would also act as a potential market for feeding livestock, which is linked to increased demand for protein products worldwide.” says a Future Market Insights analyst.

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Competitive Landscape

Insect feed manufacturers are putting a lot of effort into research and development to improve the quality of their products.

Thai Union Group- The company debuted insect protein goods in Thailand in March 2020, fueling the industry with a USD 6 million investment in a brand called Flying Spark. The firm claims to provide an alternative protein supplement based on cutting-edge, high-quality processes.

Protix BV- In March 2020, the firm announced that Rabo Corporate will become a stakeholder, claiming that this would help it expand its insect protein production capabilities in the Netherlands.

Beta Hatch- Cavallo Ventures and Brighton Jones confirmed in May 2020 that the firm has obtained USD 4 million through investment. The company intends to construct a production facility in North America where it will begin commercial mass production of mealworms.

ValuSects project- A project was launched in May 2021 with the goal of enhancing edible insect processing and manufacturing technologies. Europe provided money for this research in the amount of 3 million euros.

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Insect Feed Market Segmentation

By Insect Type:

Fly Larvae
Silkworms
Cicadas
Other Insects

By Application:

Aquaculture
Pig Nutrition
Poultry Nutrition
Diary Nutrition
Other Applications

By Region:

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

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Functional Protein Market Poised for Steady Growth: Expected to Reach USD 10.5 Billion by 2034

The Functional Protein Market size is poised to cross US$ 7,255.2 million in 2024 and is likely to attain a valuation of US$ 10,518.4 million by 2034. The functional protein market share is projected to develop at a CAGR of 4% from 2024 to 2034.

Introducing subscription-based models is an intelligent strategy for firms in the functional protein market to generate an uninterrupted revenue stream. Businesses can save client acquisition expenses by ensuring a consistent and predictable customer base through the provision of individualized subscription plans. Because members receive frequent deliveries of protein products, this approach encourages consumer loyalty by establishing a habitual consumption pattern. Subscription-based services give companies a consistent source of income, improve client retention, and add to the general viability and profitability of the brand.

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Businesses that support the clean label movement are repurposing protein products to highlight natural components and reduce the amount of chemicals. Companies establish a health-focused image by satisfying customer requests for simplicity and openness, which builds trust and encourages brand loyalty. This change also makes premium pricing tactics possible, expanding consumer reach and strengthening the sense of quality.

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Companies are capitalizing on the surge in customer concern for immune function by creating enhanced protein products with components that strengthen the immune system. By following wellness trends, businesses can appeal to today’s health-conscious customer base and gain a competitive advantage in the functional protein industry, a larger market share, and brand loyalty.

“To succeed in this fast-paced industry, businesses must have a deep awareness of local quirks, be dedicated to innovation, follow legal requirements, and form strategic alliances that complement the changing trends in health and wellness. The market expects a complete approach incorporating flexibility, innovation, and sustainability in addition to functional goods.” says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).

Key Takeaways from the Functional Protein Market Report:

In 2023, the global market size stood at US$ 6,890 million.
The hydrolysates product type segment occupied 26% of the market shares in 2024.
The powder form segment captured 67% of the market share in 2024.
The market size in the United States is projected to rise at a 4.8% CAGR through 2034.
The market in Japan is anticipated to develop at a 7.8% CAGR through 2034.
China is estimated to surge at a 7.0% CAGR through 2034 in the market.
The market size in Australia is expected to thrive at a 6.0% CAGR through 2034.

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Competitive Landscape

Intense competition among businesses fighting for market share and customer loyalty characterizes the functional protein market’s competitive landscape. Well-established firms, which include leading international companies like Glanbia plc, Archer Daniels Midland Company, and Kerry Group, have enormous sway because of their vast distribution networks and economies of scale. These industry leaders have a strong advantage since they maintain competitive pricing strategies by utilizing their operational efficiency.

Leading Players in Functional Protein Market:

Glanbia plc
Archer Daniels Midland Company
Kerry Group
Fonterra Co-operative Group
DuPont de Nemours, Inc.
Cargill, Incorporated
FrieslandCampina
Herbalife Nutrition Ltd.
Hilmar Ingredients
Omega Protein Corporation
Amway Corporation
Arla Foods Ingredients Group P/S
NOW Foods
MusclePharm Corporation
Quest Nutrition, LLC

Recent Developments Observed by FMI:

Early in 2024, Vivici plans to introduce its nature-equivalent beta-lactoglobulin product made of whey protein. Vivici is a business-to-business company that provides animal-free consumer goods and sustainable whey protein to forward-thinking food and beverage firms.
Kemin Industries (Des Moines, Iowa) opened its first manufacturing facility in September 2023 to begin producing clean-label functional proteins under the Proteus brand. These proteins are meant to enhance the texture and moisture retention of meat and poultry products, especially while cooking. The manufacturing facility is situated in Verona, Missouri.

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Functional Protein Market Segmentation

By Product Type:
- Hydrolysates
- Whey Protein Concentrates
- Whey Protein Isolates
- Casein and Caseinates
- Soy Protein
- Others
By Form:
- Dry
- Liquid
By Source:
- Animal
  - Dairy
  - Egg
  - Gelatin
- Plant
  - Soy
  - Wheat
  - Vegetable
By Application:
- Food
- Beverages
- Dietary Supplements
- Animal Nutrition
By Distribution Channel:
- Direct
- Indirect
  - Pharmacy Stores
  - E-retailers
  - Specialty Stores
  - Supermarkets
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- The Middle East & Africa (MEA)
- Japan

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Licorice Root Market Sweetens Up: Reaching USD 2 Billion by 2034 | FMI

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.

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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.).

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)).

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Lactose-Free Dairy Market to Hit USD 23.98 Billion by 2034 with 5.6% CAGR: Health-Conscious Consumers Drive Growth

The global lactose free dairy products market report, FMI analysts project that sales will reach a value of US$ 13,874.30 million by 2024. Recent consumer purchasing habits indicate a heightened focus on health, prompting manufacturers to introduce lactose-free dairy products with enhanced nutritional content. This growing trend is expected to drive a 5.6% CAGR, resulting in market revenue of US$ 23,983.50 million by 2034.

Key Insights:

Lactose intolerance, a prevalent condition affecting millions, drives consumers to avoid dairy products due to digestion difficulties. With a substantial global market opportunity, lactose-free dairy products cater to the needs of lactose-intolerant individuals.
Common in East Asia, with over 90% of adults affected in some populations, lactose intolerance creates a robust growth platform for lactose-free dairy products worldwide.
Lactose-free dairy products present a growth opportunity, allowing lactose-intolerant consumers to enjoy dairy-based food items in desired quantities.

“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

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Key Takeaways from Market Study

The market is segmented based on product type, wherein lactose free milk is anticipated to account for a major chunk of the market share over the forecast period
The North American lactose free dairy products market is expected to witness a lucrative growth rate of 5.8% during the forecast period.
Lactose free dairy products which are organic is expected to hold a market share of over 40% in the forecast period
Lactose free dairy products is also segmented based on form, wherein the liquid form is expected to account for a sizeable portion of the market share over the forecast period

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

News Update Regarding Latest Product Launches by Industry Participants

In October 2022, Swees Plant Based Foods Co., which is a Thai-based dairy-free cheese startup, announced that it will be commencing production in the first-ever vegan cheese factory. The company has plans to export its products outside of Thailand.
In December 2023, Life Health Foods (India) Pvt. Ltd. launched So Good oat caramel flavoured beverage in India in the dairy-free and plant-based Segment. The latest brand delivers a versatile and healthy drink, developed domestically from oats. It has a distinct caramel flavor that is happily consumed by kids. It is also a rewarding choice for health-conscious consumers as it is a rich source of calcium.

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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

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Saffron Market Spicing Up: Reaching USD 687.8 Million with 7.4% CAGR by 2034 | FMI

As per the latest analysis, the worldwide saffron market is estimated to be valued at US$ 337.9 million in 2024 and is anticipated to reach US$ 687.8 million by 2034. Over the next decade, global demand for saffron will likely increase at a CAGR of 7.4%.

Sales of saffron threads are expected to outpace those of powder and liquid ones. This is due to several advantages of saffron threads. The target segment is projected to account for a value share of 78.7% in 2024.

Multiple factors are set to spur the growth of the saffron industry during the assessment period. These include:

Rising interest in diverse and international cuisines
Increasing applications of saffron in the food & beverages, cosmetics, and pharmaceutical sectors
Escalating demand for natural flavors and colorings
Growing usage of saffron essential oil in aromatherapy
Rising consumer awareness about the harmful effects of artificial colors
Saffron’s association with luxury and exclusivity

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As consumers become more adventurous with their culinary preferences, the demand for high-quality and exotic ingredients like saffron is expected to rise exponentially. This will likely boost market growth during the forecast period.

Saffron is widely used in the food and beverage industries as a flavoring and coloring agent. Hence, growing demand for processed food products is expected to bolster saffron sales throughout the forecast period.

The introduction of new products and widening applications of saffron are anticipated to support the expansion of the saffron industry through 2034. Similarly, innovative marketing strategies employed by key saffron manufacturers will benefit the market.

To increase brand preference and sales, manufacturers emphasize the quality and authenticity of their saffron products. They are implementing rigorous quality control measures to ensure that the saffron meets the highest standards.

Several companies are obtaining certifications for organic, fair-trade, or other quality standards, enhancing saffron products’ credibility. Consumers often seek assurance that the saffron they purchase meets certain quality and ethical standards. This will propel the saffron market forward.

Increasing the export of saffron is another key factor expected to boost overall demand and create lucrative growth opportunities for saffron manufacturers and suppliers. Hence, a robust CAGR has been predicted for the target market during the next ten years.

“The saffron market continues to experience growth driven by increasing global demand, premium positioning, health and wellness trends, product diversification, sustainable sourcing, and online and international markets. The market’s potential for lucrative opportunities is fueled by the spice’s authenticity, versatility, and cultural significance, making it an attractive ingredient in the food and beverage industry.”- says Nandini Roy Choudhury (Client Partner for Food and Beverages at Future Market Insights, Inc.)

Key Takeaways from the Saffron Report:

The global market for saffron is expected to reach a valuation of US$ 687.8 million by 2034.
Global demand for saffron will likely rise at 7.4% CAGR between 2024 and 2034.
Based on form, the saffron threads segment is set to total US$ 526.1 million in 2034.
By end-use application, the food & beverages processing industry is expected to grow at 5.1% CAGR through 2034.
North America will likely hold a value share of 20.5% in the global market by 2034.
The United Kingdom market is estimated to witness a value CAGR of 6.1% through 2034.
Saffron sales in India are projected to total US$ 105.2 million by 2034.

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Competitive Landscape

Key Players in the Saffron Market Include

Azafranes Manchegos S.L.
Dorreen Saffron Extract
Norfolk Saffron Extract
Pascual Reverte S.L.
Saharkhiz Int Group Inc.
Rowhani Saffron Extract Co.
Safrante Global Company S.L.U.
Triselecta S.L.
House of Saffron
Surkh Saffron

Key players are focusing on expanding their portfolios by launching new high-quality products. They also use strategies such as acquisitions, advertisements, celebrity endorsements, partnerships, agreements, and mergers to gain a competitive edge in the market. For instance,

Natac Group purchased the French biotech INOREAL to boost its market position significantly in the saffron extracts sector.

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global saffron market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.

The study offers compelling insights on the saffron industry based on form (powder, threads, liquid), end-use application (culinary applications, food & beverages processing industry, cosmetics & personal care industry, fragrance, aromatherapy, and dietary supplements), functionality (food/feed/pharma grade and cosmetic grade), product claim (organic and conventional), saffron compound (crocin, crocetin, picrocrocin, safranal, others), and region.

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Saffron Market by Category

By Form:

Powder
Threads
Liquid

By End-use Application:

Culinary Applications
Food & Beverages Processing Industry
- Bakery and Confectionary
- Dressings & Condiments
- Baby Food & Sauces
- Beverages
- Soups and Spreads
- Salad
- Meat and Meat Products
- Seafood
- RTE Meals
- Dairy Products
Cosmetics & Personal Care Industry
- Lip Care
- Skin Care
- Hair Care
- Sun Care
- Bath & Body
- Cosmetics
Fragrance
- Perfumes
- Colognes
- Body Mists
Aromatherapy
Dietary Supplements

By Functionality:

Food/Feed/Pharma Grade
- Antidepressant
- Heart Health
- PMS Treatment
- Boosts Memory
- Cancer Prevention
- Antioxidants and Anti-inflammatory Compounds
- Promoting Weight Loss
- Flavor Enhancer
- Insomnia Treatment
Cosmetic Grade
- Antioxidants and Anti-inflammatory Compounds
- Antiaging
- Heals Scars
- Protects against UV Radiation
- Reduces Pigmentation
- Fights Inflammation
- Dry Skin
- Prevents Hair Loss

By Product Claim:

Organic
Conventional

By Saffron Compound:

Crocin
Crocetin
Picrocrocin
Safranal
Others

By Region:

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

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