Market Research Blog – Page 3063 – New Product Development

FMI Projects 16.7% CAGR through 2033; Plant-based Hot Dogs Market Players Seek to Move Beyond Novelty

According to FMI reports, the global plant-based hot dogs market can soar at a rate CAGR of 16.7% from 2023-2033. The net worth of the global share of the plant-based hot dog industry is predicted from US$ 496.30 million in 2023 to over US$ 828.90 million by the year 2033.

A growing market for plant-based hot dogs has resulted from increased demand for vegan and vegetarian products owing to their health benefits. Growing concerns about animal welfare have also increased demand for plant-based hot dogs.

Companies are under pressure to adopt new technologies that create plant-based hot dogs that are similar in texture to those made from animals. Plant-based hot dogs contain calcium, potassium, iron, magnesium, and vitamin B.

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The American Heart Association recently approved a vegan hot dog made from pea protein and beet juice by Beyond Meat, a Los Angeles-based company that produces plant-based meat substitutes.

There has been a surge in demand for meat alternatives in recent years, and manufacturers are trying their hand at this lucrative market with new vegan products. Emerging opportunities in the market have prompted small and medium manufacturers to expand their businesses due to the increasing demand for plant-based products.

The fermentation industry has made several technological advancements in recent years which are expected to result in significant growth in the plant-based hot dog market during the forecast years.

By using these approaches, manufacturers are able to deliver meaty textures and satisfy consumer expectations. They also make sure that the product is a healthy alternative to animal-sourced food.

“Increasing health concerns such as stomach and gallbladder polyps have increased global interest in plant-based hot dogs. Plant-based hot dogs have gained popularity in recent years due to people’s growing desire for healthy eating habits.” – said a lead analyst at FMI.

Key Takeaways from the Plant-based Hot Dogs Market Study

Global plant-based hot dog market to surpass US$ 496.30 million by 2023.
Europe is set to capture over 50% of revenue share until 2023, while Asia Pacific is set to be the fastest-growing market
Over the course of the assessment, soybean protein formulations remained the most popular
Plant-based beef remains lucrative, and pork is gaining significant traction

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Competitive Landscape for the Plant-based Hot Dogs Market

As a result of the highly competitive nature of the market, the aforementioned players heavily rely on new product launches and strategic collaborations with prominent players. Additionally, these players assist government bodies with promoting vegan products and designing policies supporting them.

There are a number of prominent players in the global plant-based hot dog market, including Quorn Foods, Morningstar Farms, Daring Foods, Yves Veggie Cuisine, Gardein, Ingredion Inc., Glanbia Plc., Beyond Meat Inc., Nestle SA, Archer Daniels Midland Company, Cargill Incorporated, and Roquette Frères S.A.

Recent Developments in the Plant-based Hot Dogs Market

Among the leading innovators in plant-based protein, Archer Daniels is a leader in this field. It is made with 100% plant-based ingredients and does not contain GMOs, such as Vegan Chorizo, ProFam® Soy Protein Formula and VegeFullTM Red Bean Grits are the main ingredients.
With the launch of Smart Dogs with Plant-Based Casings in May 2021, Lightlife introduced an all-vegetarian product that looks and tastes like traditional beef hot dogs. It is made from pea protein and is gluten-free.
Waving Foods recently released a product offering 100% prepared chicken original breaded powder packed in 3×8 ounce bags.
A redesigned version of Field Roast’s plant-based Signature Stadium Dog was launched in March 2021, which mimics the taste and texture of traditional beef hot dogs. The product is made with pea protein and is soy- and gluten-free.
Plant-based Beyond Breakfast Sausage Links, designed to look, cook, and taste like traditional pork breakfast sausages, were launched by Beyond Meat in January 2021. A plant-based snack and beverage development and distribution partnership between Beyond Meat and PepsiCo has also been announced.
In July 2021, Tofurky introduced its line of plant-based Artisan Sausages in four flavors: Andouille, Chicken Apple, Italian, and Spinach Pesto. The sausages are made from organic tofu and contain no soy or gluten.

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Plant-based Hot Dogs Market Segmentation by Category

By Product Type:

Plant-based Chicken
Plant-based Beef
Plant-based Pork

By Source:

Soy-based Protein
Wheat-based Protein
Pea-based Protein
Canola-based Protein
Fava-Bean Based Protein
Potato-based Protein
Rice-based Protein
Lentil-based Protein
Flax-based Protein
Chia-based Protein
Corn-based Protein

By Distribution Channel:

Retail
Hypermarkets/Supermarkets
Convenience Stores
Specialty Food Stores
Online Retail
HoReCa (Food Service Sector)

By Region:

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

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI’s latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Plant-Based Burger Market Anticipates Remarkable Growth to US$ 23.2 Billion by 2033

The FMI anticipates that the plant-based burger market is estimated to capture a valuation of US$ 5.1 billion in 2023. The market is increasing to US$ 23.2 billion by 2033 and is registering a CAGR of 16.3% during the forecast period.

How are Manufacturers Shaping Plant-based Burger Market?

Manufacturers play a significant role in the global market by developing innovative products, expanding their distribution channels, and partnering with food service companies. Here are certain ways that the manufacturers are shaping the global market:

Product Development:Manufacturers invest in research and development to create new and improved plant-based burger products that appeal to a wide range of consumers. It includes developing products with a taste and texture similar to traditional meat burgers with unique flavors and ingredients.
Distribution Channels:Manufacturers are expanding their distribution channels to make plant-based burgers widely available to consumers. It includes partnering with grocery stores and retailers to increase the availability of plant-based burgers in stores.
Marketing and Advertising: Manufacturers are investing in marketing and advertising to increase awareness about plant-based burgers and educate consumers about their benefits. It includes launching social media campaigns, working with influencers, and creating targeted advertising to reach different consumer segments.
Sustainability Initiatives:Many manufacturers prioritize sustainability in their supply chains. It includes using sustainable ingredients, reducing packaging waste, and implementing eco-friendly manufacturing practices.
Partnerships and Collaborations:Manufacturers are partnering with other companies and organizations to accelerate market growth. For example, manufacturers collaborate with universities and research institutions to develop new plant-based ingredients, while others partner with food service industries.

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Key Takeaways:

The plant-based burger market is expected to have a valuation of US$ 2 billion by 2033.
With a CAGR of 3%, the global market is increasing during the forecast period.
The United States plant-based burger market is anticipated to hold a CAGR of 5% through 2033.
Historically, the market secured a CAGR of 9% between 2018 and 2022.

Who is Winning?

The market has experienced notable growth in recent years, with several key players emerging as leading players in the industry. Here are a few of the key players and their roles in the market:

Kellogg: Kellogg is a multinational food company that has entered the market with its MorningStar Farms brand. The company offers a range of plant-based burger products made from soy and wheat proteins.
Tyson Foods:Tyson Foods is a meat processing company that has entered the market with its Raised & Rooted brand. The company provides a range of plant-based burger products made from pea protein and other plant-based ingredients.

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Other Essential Players in the Market are:

Beyond Meat
Impossible Foods
Nestle (Awesome Burger)
MorningStar Farms
Gardein
Lightlife
Praeger’s
Tofurky
Amy’s Kitchen
Field Roast
Quorn
Alpha Foods
Sweet Earth Foods
No Evil Foods
Good Catch
Before the Butcher
The Vegetarian Butcher
Boca
Yves Veggie Cuisine
Hodo Foods

Recent Developments in the Market are:

Impossible Foods:Besides its plant-based burger products, Impossible Foods has recently launched plant-based sausage and chicken products, which are available at select retailers and food service outlets.
Nestle: Nestle has recently announced plans to invest in plant-based meat alternatives, focusing on its Garden Gourmet brand. The company has also launched a range of plant-based burger products under its Sweet Earth brand.

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Plant-based Burger Market by Category

By Product Type:

Plant-based Chicken
Plant-based Beef
Plant-based Pork
Plant-based Fish/Fishless Fish

By Source:

Soy-based Protein
Wheat-based Protein
Pea-based Protein
Canola-based Protein
Fava-bean Based Protein
Potato-based Protein
Rice-based Protein
Lentil-based Protein
Flax-based Protein
Chia-based Protein
Corn-based Protein

By Sales Channel:

Food Service {HoReCa, Travel Retail}
Quick Service Restaurants
Retail
Hypermarket/supermarket
Convenience Stores
Departmental Stores
Grocery Stores
Specialty Stores
Online Retailers

By Region:

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

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Food and Beverage Disinfection Market could reach up to US$ 18.9 billion by 2033 | Future Market Insights Inc. 

Adjusting for the pandemic years, the global Food and beverage disinfection market experienced an average growth rate of 3.5% during the years between 2018 and 2022. As per the market analysis report, it is projected to witness a credible growth rate of 4.5% during the proposed forecast period. FMI expects the global food and beverages disinfection market to surpass an impressive valuation of US$ 18.9 billion by 2033.

As an alternative to food disinfection technologies used traditionally, different types of food-safe disinfectant spray chemicals have emerged as a better choice nowadays. Chemicals like hydrogen peroxide, chlorine compounds, alcohols, and others play a crucial role as food-grade disinfectants in the food and beverage processing and packaging industries.

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Food and beverage makers are now more worried about how they can protect customers against viral diseases after the pandemic years of 2020 and 2021. Food and beverage sanitation also helps people stay healthy generally and supports their immune systems in the event that they get a viral infection.

Key Takeaways from the Food and Beverage Disinfection Market Study Report

According to geographic representation, it is expected that the market in the United States would hold a dominant position. By progressing at a slightly lower growth rate of 4.4% it is expected to reach a valuation of US$ 4.2 billion by the year 2033.
By registering a CAGR of 7% between 2023 and 2033, Germany is predicted to have higher growth in the disinfection food industry. The United Kingdom and Spain are the other two noticeable markets in the European region with higher growth rates.
Growing consumer demand for high-quality food items in the Asia Pacific region is anticipated to propel the market in China at a higher growth rate. The sales of food and beverage disinfection in China are projected to register a CAGR of 4.7% until 2033 to reach US$ 3 billion.

Competitive Landscape for the Food and Beverage Disinfection Market Players

Advanced UV Inc., CCL Pentasol, Evonik Industries AG, Solvay SA, Stepan Company, Entaco NV, Fink Tec GmbH, Halma PLC, Trojan Technologies, Suez, Xylem Inc., Evoqua Water Technologies, Entaco N.V. among others are some of the major players in the global food and beverage disinfection market.

Many market players are expanding their business by reorienting their product portfolio for other categories in this sector. The purchase of CID Lines N.V. in Belgium, which is a provider of worldwide cattle biosecurity and hygiene solutions, by Ecolab was formally announced in 2020. This purchase has assisted in the company’s efforts to diversify its product offering and enter the food disinfection sector for livestock.

Recent Developments by the Food and Beverage Disinfection Industries

Diversey Company bought Birko Corporation and Chad Equipment LLC, which is a subsidiary of Birko Corporation, in mid-2021. This agreement was made to increase the presence of both firms in the F&B sectors in North America.
The Neogen Company bought Megazyme Inc., which is a food quality testing firm, in the year 2021. The transaction is meant to help Neogen to expand its food safety product range, with an emphasis on high-grade and nutritious value.
In order to strengthen its position in the Southeast Asian market, Kersia Group entered into a contract in the year 2021 with Kalinisan Chemicals Company. Kersia bought the majority of the stock from Kalinisan Chemicals Company, which also makes and distributes industrial detergents, sanitizers, and disinfectants.

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Key Segments of the Food and Beverage Disinfection Market

By Application:

Surface Disinfection
Packaging Disinfection
Processing Equipment Disinfection
Other Disinfection Applications

By End Use:

Food Disinfectant
Beverages Disinfectant

By Region:

North America (United States & Canada)
Latin America (Brazil, Mexico, Argentina, Chile, Peru & Rest of Latin America)
Europe (Germany, United Kingdom, France, Spain, Italy, BENELUX, Russia & Rest of Europe)
Middle East & Africa (GCC, South Africa, Turkey, Iran, Israel & Rest of MEA)
East Asia (China, Japan & South Korea)
South Asia (India, Thailand, Malaysia, Indonesia, Singapore & Rest of South Asia)
Oceania (Australia & New Zealand)

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Plant-Based Chicken Market Surges with a Projected 18.4% CAGR According to FMI

The Plant-based Chicken Market is expected to surpass US$ 12,601.0 million by 2033The world’s increased protein intake is the primary driver of the worldwide plant-based chicken business. Owing to the increased protein consumption, producers are more likely to offer consumers a selection of novel plant-based chicken products as an alternative to actual chicken. Plant-based chicken is gaining popularity since it tastes and looks like chicken pieces, nuggets, and steaks.

Several government restrictions prohibiting animal slaughter in various nations are assisting the global market’s growth. The global market for plant-based chickens is advancing due to increased concern over maintaining the ecosystem’s equilibrium. Rising per capita and disposable income in developing countries is likely to promote global market growth.

Increasing affluence leads to a better quality of life, and in emerging countries, a high level of living has boosted the market consumption of plant-based chicken. As people’s health knowledge grows, consumer tastes are shifting away from animal products and towards organic products.

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This shift prompted the plant-based chicken business to broaden its menu and develop new items. Manufacturers have created appealing and eco-friendly food packaging in order to attract customers and expand their consumer base, consequently driving the global market growth.

This plausible link encourages customers to switch from animal products to herbal items. The increased popularity of organic products on social media and other print media is expected to drive the worldwide plant-based chicken market during the forecast period.

Key Points from the Plant-based Chicken Market

The market is expected to surpass US$ 12,601.0 million by 2033.
Growing concerns about animal cruelty, combined with the advent of the meat 2.0 revolution, are likely to provide the global plant-based chicken market the most traction in the coming decade.
Plant-based chicken market is expected to record a CAGR of 18.4% during the forecast period.
North America dominated the plant-based chicken market.

Key Development in the Plant-based Chicken Market

July 2019 – Dunkin Donuts announced to serve breakfast sandwiches made with the Beyond Meat brand of meatless sausage products throughout Manhattan, New York.
October 2020 – Impossible Foods Inc. expanded its presence in the market in Canada with the introduction of its flagship product, the Impossible Burger. The product is offered in about 600 Sobeys family shops as well as through the retailer’s online grocery home delivery service.
September 2020 – Beyond Meat introduced its new product, Beyond Meatballs, in grocery stores across the United States. This product met consumer demand for nutritious and simple-to-prepare plant-based food.
September 2020 – Planterra Foods inked a three-year relationship with the NFL team Denver Broncos. As a result of this collaboration, the OZO brand was designated as the Denver Broncos’ Plant-Based Food Option.
September 2020 – Beyond Meat Food Co. Ltd., a subsidiary of Beyond Meat, signed a deal with Jiaxing (China) Economic and Technology Development Zone to design and develop manufacturing facilities.

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Key Segment

Product Type:

Burger Patty
Crumbles & Grounds
Sausages
Hot Dogs
Nuggets
Bacon Chips
Deli Slices
Chunks & Tips
Shreds
Cutlet
Strips, Tenders, & Fingers
Meatballs (Meatless)

Source:

Soy-based Protein
Wheat-based Protein
Pea-based Protein
Canola-based Protein
Fava Bean-based Protein
Potato-based Protein
Rice-based Protein
Lentin-based Protein
Flax-based Protein
Chia-based Protein
Corn-based Protein

Distribution Channel:

Retail
- Hypermarkets/Supermarkets
Convenience Stores
Specialty Food Stores
- Online Retail
- HoReCa (Food Service Sectors)

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Citrus Water Market Anticipates Robust 17.1% CAGR to Hit US$ 51.9 Million by 2033

The citrus water market is expected to increase from US$ 10.59 million in 2023 to US$ 51.9 million in 2033.

The Use of Citrus Water as a Fragrance in Cosmetics Amplifies Production Globally

Citrus water is used to increase flavor in the food sector. It is mostly used to manufacture candies in the confectionery business. Citrus water also adds a tangy flavor to stews, soups, and other types of prepared foods. Citrus water is often used to make a variety of drinks. These elements are expected to increase the global citrus fruit market’s revenue growth prospects.

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Citrus concentrates have applications in personal care products, which is predicted to have a favorable impact on this market. Individuals’ preference for organic and healthy food choices is also predicted to boost revenue growth in this target market during the forecast period.

An increase in the consumption of sugar-free citrus water has been noticed, which is expected to create extra demand and present profitable prospects for market participants to expand their respective product offers. Sadly, the cost can be a substantial barrier to consumer acceptance, which could have a negative impact on this market to some extent.

This market’s manufacturing, distribution, and sales channels were all affected. Yet, according to sales statistics from several industry players, organic and functional beverages outperformed carbonated drinks in terms of revenue contribution to various food and beverage enterprises throughout the pandemic. This pattern is likely to persist.

Consumers are increasingly interested in sustainable or biodegradable packaging choices. This is expected to provide new opportunities for players and boost revenue growth in this market over the forecast period.

Key Points from the Citrus Water Market

Consumer inclination for healthy alternatives to sugary soft drinks is one of the key elements driving the citrus water market’s rise.
The market size is anticipated to be US$ 10.59 million in 2023.
The citrus water market is expected to capture a CAGR of 17.1% during the forecast period 2023 to 2033.
North America dominated the citrus water market.

Key Developments in the Citrus Water Market

In 2019, Ball Corporation collaborated with Danone to launch L’mon, a new sparkling canned beverage.
In 2019, Limoneira, a citrus corporation based in the United States, announced the conclusion of a joint venture and land acquisition with FGF Trapani (FGF). The agreement allows Limoneira to expand its reach in Argentina and ensures a 365-day, 24-hour fruit supply.
July 2021 – National Beverage Corporation, an American beverage maker, introduced three new sparkling water flavors under the LaCroix brand. The effervescent waters include no calories or sugar.
May 2021 – PepsiCo Inc., a renowned global food and beverage corporation, debuts Soulboost, an enhanced sparkling water beverage enriched with functional ingredients. The drink comes in two flavors: blueberry pomegranate and black cherry citrus, which contain 200 mg of ginseng to aid in mental stamina, and blackberry passion fruit and strawberry rose, which contain 200 mg of theanine to aid in relaxing.
June 2022 – Bickford & Sons, a South Australian business, introduced new tonic water. Tonic water is prepared from natural elements such as carbonated water, quinine, and sugar or a natural sweetener.
March 2022 – Schweppes, a Coca-Cola Company brand, introduced a new premium 600 ml glass container. The drink comes in three flavors: Indian Tonic, Slimline Tonic, and Elderflower.

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Key Segments

Product Type:

Economic
Premium

Source:

Lemon
Orange
Lime
Grapefruit
Mixed

Packaging Format:

Glass Bottles
Tins
Plastic Bottles
Other

Distribution Channel:

Modern Trade
Specialty Stores
Convenience Stores
Commercial Market
Hotels/Restaurants/Bars
Online Retailers
Others

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Plug-in Hybrid Electric Vehicle Market Projected to Reach US$ 186,450.62 Million by 2034

The latest edition of the Future Market Insights report reveals that the plug-in hybrid electric vehicle market demand is poised to reach a value of US$ 35,927.40 million in 2024. This positive trend is anticipated to persist, with forecasts suggesting a market worth of US$ 1,86,450.62 million by 2034. The plug-in hybrid electric vehicle sector is expected to maintain a robust compound annual growth rate (CAGR) of 17.9% through 2034.

Over the past few years, the market for plug-in hybrid electric vehicles (PHEV) has experienced phenomenal development. The industry is expanding as a result of the public’s increased focus on using environmentally friendly vehicles. promoting the population’s welfare and keeping in mind the current climatic conditions.

The market is anticipated to continue expanding at a rapid rate as plug-in hybrid vehicles continue to gain popularity around the world, which will help PHEV sales rise overall in the future years.

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Due to increasing public awareness of the fuel efficiency of hybrid electric vehicles, the PHEV industry is expected to offer opportunities for sustainable growth. Additionally, major PHEV producers are focusing on employing the current electrical infrastructure. Additionally, they are concentrating on greening the grid rather than building a completely new infrastructure to refuel cars with cleaner liquid fuels. Consequently, promoting the practicality of plug-in hybrid electric cars and assisting in boosting sales.

Key Takeaways

The global plug-in hybrid electric vehicles application is on the rise as it helps in minimizing fuel usage and promotes the vehicle’s cost-efficiency. The automobiles are configured to charge the internal combustion engine with the help of an electric motor and other fuel like diesel or gasoline.
Since the transportation sector is known for being a primary source of heightened GHGs. i.e., greenhouse gas emissions. Various policymakers are incorporating favorable regulations that will encourage the usage of electric vehicles (EVs), such as plug-in hybrid vehicles (PHEVs) in order to motivate the public to use alternative fuels, such as electricity, etc.
The market is actively being supported by federal and state policymakers working rigorously towards the rapid expansion of charging station infrastructure. Furthermore, the demand to decrease dependence on fossil fuels is one of the key factors contributing to the adoption of PHEVs across the globe.
The ongoing research and development activities are helping in bringing down the prices of electric vehicles by adopting new technologies and bringing a new type of plug-in hybrid vehicles every year are predicted to spur market growth in the forecast period of 2022-2032.

Competitive Landscape

Various companies in the market are focusing on extending their portfolio of electrified automobiles to efficiently cater to the changing needs of the customers while simultaneously retaining their competitiveness globally.

Some of the major companies have developed new products which offer the benefits of two cars in one. These products are anticipated to offer the benefits and flexibility of both longer trips and everyday driving. The automotive functions as a hybrid car and can be charged just like other electric vehicles.

At present, the Asian continent is poised to create robust opportunities over the assessment period. In countries like India, the emergence of hybrid vehicles is attracting cost-conscious buyers. These hybrid automobiles meet stricter emission norms, while the current prices of motor fuel are soaring in the country. Hybrid vehicles may be costly in comparison to traditional petrol cars but may offer significant fuel efficiency in comparison to petrol-run cars.

The market players pay keen attention to maintaining superior quality of the products and innovation. Furthermore, they are also trying to diversify their range of manufacturing, indulging in mergers and acquisitions, and adopting organic growth strategies for a strong foothold in the global market.

Some of the key companies in the market are

Renault SA
Nissan Motor Corporation Limited
Volkswagen AG
Honda Motor Company Limited
General Motors
Ford Motor Company
Daimler AG
Mitsubishi Heavy Industries Ltd.
Toyota Motor Corporation
BMW AG

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Plug-in Hybrid Electric Vehicles Market by Category

By Vehicle Type, Plug-in Hybrid Electric Vehicles Market is segmented as:

Passenger car
Light Commercial Vehicle

By Technology, Plug-in Hybrid Electric Vehicles Market is segmented as:

Series
Parallel
Series-parallel

By Region, Plug-in Hybrid Electric Vehicles Market is segmented as:

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

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

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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Anticipated Surge in Global Food Authenticity Testing Services Market to Reach US$ 10112.8 Million by 2033

In 2023, the US$ 5893 million for the food authenticity testing service market is estimated to reach a revised size of US$ 10112.8 million by 2033. This market is expected to expand at a CAGR of 6% during the analysis period.

Consumers have become increasingly sceptical about the authenticity of food products designed to meet specific needs, such as vegan, free-form, and organic. This is due to intentional ingredient substitution, misleading consumers with false claims, and disruptive labeling.

To differentiate their products from conventional offerings, food manufacturers have adopted food authentication techniques to capture significant market share. Consumers are increasingly concerned about food safety and clean labels, so adoption may be on the rise.

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The increasing incidence of fraud, false labeling, certification, and adulteration in food products is one factor driving the market growth. Additionally, consumers are becoming more knowledgeable about food quality, increasing market growth.

“The epidemic of economically motivated infestation (EMA) to overcome competition has forced governments to impose strict regulations on food inspection and authenticity regulations, pushing markets toward a multi-billion-dollar valuation.” – says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

The food authenticity testing service market is expected to grow at a CAGR of 6% over the forecast period.
It is estimated that the food authenticity testing service market in North America will remain strong during the forecast period.
Due to its large population, Asia Pacific is expected to be the fastest-growing region for food authenticity testing services
Testing meat speciation authenticity is bolstered by a high incidence of meat consumption
The food authenticity testing services market in China is expected to witness significant growth at a CAGR of around 4.4%.

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Competitive Landscape:

The global food authenticity testing service market is dominated by a small number of players aiming to concentrate their presence in emerging markets. They launch products, introduce innovations, acquire strategic companies, and establish laboratories and research facilities in areas that are not developed. By offering innovative products, market players can maintain supply and demand, thus assisting the growth of the overall market.

Several prominent companies dominate this market, including ALS Ltd, EMSL Analytical, Inc., Genetic ID NA Inc., Eurofins Scientific SE, Merieux NutriSciences Corporation, Intertek Group PLC, Microbac Laboratories Inc., SGS SA, Romer Labs, others.

Recent Developments:

In collaboration with Eurofins GeneScan Technologies GmbH in October 2019, UgenTec’s real-time PCR analysis software platform, FastFinder, may be used to develop assay plugins for Eurofins GeneScan Technologies’ portfolio of molecular biology kits. Furthermore, the partnership can help Eurofins scale up its assays with automated results reports and fast sample-to-result times for food, feed, and seed testing.
With the acquisition of Vanguard Sciences Inc. in January 2018, SGS expanded its global network of agriculture and food laboratories by integrating the company’s two food laboratories. Agricultural and food testing is provided by two laboratories, including product testing and research (including testing of processes and products).
SGS announces the opening of its new food testing laboratory in Papua New Guinea. In addition to food safety, quality, and sustainability, SGS offers a comprehensive range of services.

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Food Authenticity Testing Services Market Segmentation by Category

By Food Tested:

Meat & Meat Products
Dairy & Dairy Products
Processed Foods
Other Food Tested

By Target Testing:

Meat Speciation
Country of Origin & Ageing
Adulteration
False Labelling

By Technology:

PCR-Based
Liquid Chromatography-Mass Spectrometry (LC-MS)
Isotope
Immunoassay Based/ELISA
Other Technologies

By Region:

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

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Chickpea Protein Market on Track to Reach $165.1 Million by 2033 | FMI

The global chickpea protein market is predicted to register a CAGR of 5.1% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 100.9 million in 2023 to US$ 165.1 million by 2033 end.

Chickpea protein consumption is anticipated to increase due to increasing demand from the food industry. The extensive use of chickpea protein in the food and pastry kitchen industry is expected to positively influence over the next 10 years. An increasing shift in food consumption patterns favoring meat electives and prepared food items is predicted to stimulate market growth.

Development of alternative meat formulations for categories like snacks, dressings, etc., is forecast to catalyze market development in the coming years. The affordability, versatility, and nutrient-rich properties of chickpeas are expected to help the market incline forward. The usage of chickpea protein for weight management, safety from chronic diseases, and stimulating other aspects of health is projected to push the market growth in the years to come.

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Top Highlights from the FMI’s Analysis of the Chickpea Protein Market:

North America is assessed to lead the global market over the next 10 years. The United States chickpea protein industry is projected to attain US$ 53.6 million by 2033. The CAGR assumed for the United States market is anticipated to be 4.7% over the forecast period.
In the Europe region, Germany is projected to hold a significant market percentage. The German market is anticipated to attain US$ 13.21 million by 2033. Over the forecast period, the market is expected to expand at 4.4% CAGR.
The United Kingdom market is predicted to attain US$ 8.3 million by the end of 2033. Over the upcoming years, the market is anticipated to register a 3.6% CAGR.
In the European region, the Spain market is expected to exhibit significant growth, expanding at a CAGR of 5.2% over the forecast period. The market is set to achieve a market valuation of US$ 7.1 million by 2033.
Within the Asia Pacific region, China’s contribution is anticipated to stand out. By the end of 2033, the China market is expected to attain US$ 17.8 million. The market is projected to perceive a growth rate of 6.4% over the forthcoming years.
The protein isolates segment, based on product type, is expected to register a 5.4% CAGR, up from the 3.6% CAGR observed in the historical period.
The conventional chickpea protein vertical, based on nature, is projected to expand at a CAGR of 5% from 2023 to 2033, lifting from the 3.3% CAGR witnessed in recent years.

Key Developments Stirring Up the Marketplace

In March 2023, new, innovative food products developed using InnovoPro’s chickpea protein are planned to be showcased in snacks, dressings, dairy, and meat alternatives categories. These newly developed products are expected to be showcased at Natural Products Expo West 2023.
In September 2022, Ingredion Inc. announced its equity stake in InnovoPro, a chickpea ingredient developer.

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Key Players:

Batory Foods
Ingredion Inc.
Archer Daniels Midland Company
PLT Health Solutions
Chickplease
Cambridge Commodities Ltd
AGT Food and Ingredients

Key segments

By Product Type:

Protein Isolates
Protein Concentrates
Flour
Other Product Types

By Nature:

Organic
Conventional

By End User:

Food Processing
- Bakery & Confectionery
- Meat Alternatives
- Functional Foods
- Dairy Replacements
- Infant Foods
- Other Food Applications
Animal Feed
- Livestock
  - Cattle
  - Swine
  - Poultry
- Pet Food
- Aquafeed
Nutraceuticals
Sports Nutrition
Infant Nutrition

By Processing Type:

Dry Processing
Wet Processing

By Region:

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

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Nandini Singh Sawlani

Zinc-Air Batteries Market Expected to Reach US$ 3.5 Billion by 2033

The Zinc-Air Batteries Market Share is poised for substantial growth, with an estimated Compound Annual Growth Rate (CAGR) of 5.7% over the forecast period from 2023 to 2033. The market size for zinc-air batteries is predicted to experience significant expansion, expected to increase from US$ 2.0 Billion in 2023 to reach US$ 3.5 Billion by 2033.

The Zinc-Air Batteries market is a growing segment within the energy storage industry, focusing on the development, production, and deployment of batteries that utilize zinc and oxygen from the air as key components in their electrochemical reactions. Zinc-air batteries offer several advantages, including high energy density, low cost, and environmental friendliness, making them attractive for various applications, including electric vehicles, renewable energy storage, and portable electronics. Here’s an overview of the Zinc-Air Batteries market:

Market Overview: The Zinc-Air Batteries market has gained momentum in recent years, driven by increasing demand for energy storage solutions capable of supporting renewable energy integration, grid stabilization, and electrification of transportation. Zinc-air batteries are particularly well-suited for applications requiring long-duration energy storage, such as stationary storage for solar and wind power systems, due to their high energy density and scalability.

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Key Features: Zinc-air batteries operate by oxidizing zinc metal with oxygen from the air to generate electrical energy, with zinc oxide formed as a byproduct. This reversible electrochemical reaction allows zinc-air batteries to store and release energy efficiently, providing a reliable and cost-effective means of storing electricity for later use. Zinc-air batteries can be easily recharged by replenishing the zinc electrode, either through replacement or by recharging the battery with fresh zinc.

Applications: The Zinc-Air Batteries market serves a wide range of applications across various industries, including:

Energy storage for renewable integration: Zinc-air batteries can store surplus energy generated from renewable sources, such as solar and wind power, for use during periods of low or no renewable generation, helping to stabilize the grid and support the transition to renewable energy.

Electric vehicles (EVs): Zinc-air batteries have the potential to be used in electric vehicles as a lightweight and high-energy-density alternative to lithium-ion batteries, offering longer driving ranges and reduced environmental impact.

Portable electronics: Zinc-air batteries are commonly used in hearing aids, medical devices, and other portable electronics due to their long shelf life, low self-discharge rate, and ability to deliver stable power output over time.

In summary, the Zinc-Air Batteries market represents a promising and rapidly evolving segment of the energy storage industry, offering scalable, cost-effective, and environmentally friendly solutions for a wide range of applications. With their high energy density, long cycle life, and versatility, Zinc-Air Batteries have the potential to address critical challenges in energy storage and contribute to the development of a cleaner and more sustainable energy ecosystem.

Regional Performance in the Zinc-Air Batteries Market

The United States zinc-air batteries market is poised for substantial growth by 2033, with an estimated market size of US$ 674 million. The demand for portable and reliable power sources in industries like medical devices, IoT applications, and consumer electronics drives this growth.

The United Kingdom is also performing well in the global market, experiencing notable absolute dollar growth of US$ 56.6 million and maintaining steady growth with a CAGR of 5.4% from 2023 to 2033. Further, the increasing adoption of zinc-air batteries in various sectors and the country’s focus on sustainable energy solutions and environment-friendly technologies contribute to its market success.

China is a leading region in the global zinc-air batteries industry, with a strong historical CAGR of 6.8% and a projected CAGR of 5.6% from 2023 to 2033. The country’s massive population, rapid urbanization, and commitment to renewable energy sources make zinc-air batteries attractive.

Top Key Players Operating in the Zinc-Air Batteries Market

Duracell (USA)
Ravoyac (USA)
Nantenergy (USA)
Electric Fuel Battery Corporation (USA)
ZAF Energy System (USA)
Varta AG (Germany)
GP Batteries (Hong Kong)
Phinenergy (Israel)
Thunderzee (USA)
Renata SA (Switzerland)
AZA Battery (Belgium)

Innovations in the Zinc-Air Batteries Market

Zinc8 Energy Solutions Inc. announced the expansion of its zinc-air battery production plant in the United States market in September 2022. This development is intended to broaden the battery’s product offering.
Form Energy, a Boston-based firm, created a breakthrough low-cost, long-duration rechargeable iron-air battery that can produce energy for 100 hours at system prices and costs less than one-tenth the cost of a lithium-ion battery in July 2021.

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Key Segments Covered in the Zinc-Air Batteries Market

By Type:

Rechargeable
Non-Rechargeable

By Application:

Small Devices
Remote Signaling & Communications
Electric Cars
Safety Lamps
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan (APEJ)
Japan
The Middle East & Africa (MEA)

Author

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Nandini Singh Sawlani

PE Films Market is Expected to Increase Due to the E-commerce and Food & Beverage Expansion | Says FMI

As per Future Market Insights (FMI), the global PE films market is projected to reach a valuation of US$ 79.2 Billion by 2032, with sales growing at a CAGR of 4.3% over the forecast period. PE films are cheap, flexible and versatile that gives them a competitive edge in the packaging industry.

Packaging films are manufactured by either blown film or cast film processes, which involve the melting polymer resins, extruding the polymer melt with the help of a die, and stretching and cooling the melt into a film. Different types of polymers are used for a variety of films that are used in the packaging of different products depending on the level of protection and type of packaging required.

PE films offer various benefits such as barrier properties, light weight, flexibility, aroma locking, water & air resistance, and no chemical reaction. These features help in keeping products safe as and fresh during transport & storage. Surging demand from the food & beverage sector will continue driving sales in the market.

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Consumers are preferring attractive, convenient, and sustainable packaging. These films offer several benefits such as convenience, food safety, and better quality to consumers, retailers, and the foodservice sector. Moreover, the emergence of bio-based PE films that are environmentally friendly will also spur demand in the market.

Further, growing popularity of pouches for a wide range of foods, as well as the advent of innovative packaging solutions for pharmaceutical and medical packaging products will augment the growth in the market.

Moreover, increasing sales of PE films in the agriculture sector will create opportunities for growth in the market. In horticulture, optimal protection of crops from severe weather, wind, snow, and heavy rain is imperative. PE films are used as a plastic cover in greenhouses to protect plants and crops and to create a restricted environment with controlled microclimatic conditions.

Greenhouse coverings, low and medium tunnel covers, and soil mulching are some of the applications for PE films.

Besides this, PE films are widely used in the construction sector for several end use applications like vapour retarders, window films, flooring and countertop protection, and roofing. These sheets can be used to block off rooms, cover building components, and protect people from lead poisoning in some cases. The extensive applications of PE films in the food, beverages, construction and many other end use industries is augmenting the growth in the market.

“Increasing applications of PE films for the packaging of ready-to-eat meals, along with expansion of the ecommerce sector in emerging economies will continue fueling the growth in the market over the forecast period,” says an FMI analyst.

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Key Takeaways:

By material, sales in the linear low density PE films segment will grow at a 3.6% CAGR over the forecast period.
In terms of end use, demand in the food and beverage segment is anticipated grow by 1.6x during the assessment period.
The U.S. will account for nearly 18.3% of the North America PE films market through 2032.
Total sales in the India market will reach a valuation of US$ 7.3 Bn by 2032.

PE Films Market Landscape

Berry Global Group, Mondi Group, ProAmpac LLC, Amcor Plc, Sealed Air Corporation, Winpak Ltd, Huhtamaki Oyj, Glenroy, Inc., Plastissimo Film Co., Ltd., Bischof & Klein GmbH, Schur Flexibles Holding GesmbH, Klöckner Pentaplast, Grupo Plastilene S.A.S., Flexopack SA, Cosmo Films Ltd. are some of the key players in the PE films market.

PE films Market by Category

By Material:

Low Density Polyethylene Films (LDPE)
Linear Low Density Polyethylene Films (LLDPE)
High Density Polyethylene Films (HDPE)
Bio Polyethylene Films

By Thickness:

Less than 50 Micron
50 to 100 Micron
101 to 200 Micron
Above 200 Micron

By End-Use:

Food & Beverages
Personal Care & Cosmetics
House Care
Building & Construction
Agriculture
Electrical & Electronics

About Future Market Insights Inc. (FMI)

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

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