Chocolate Confectionery Market Poised for Growth, Expected to Reach $303.9 Billion by 2034 with 6.90% CAGR | FMI Analysis

The chocolate confectionery market is expected to be worth US$ 156.2 billion in 2024. By 2034, the market is projected to be valued at US$ 303.9 billion. The consumption of chocolate confectioneries is likely to expand at a CAGR of 6.90% from 2024 to 2034.

The industry is witnessing a spike in sales of chocolate confectionery due to the growing demand for indulgent treats and the rise in consumer preferences for artisanal and gourmet flavors. Chocolate confectioneries are also gaining impetus due to their familiarity and the nostalgic feeling among the youth and adults.

Apart from individual consumption, chocolate confectioneries also find their applications in a wide spectrum of industries. They are used in the baking and pastry industry to create a wide range of products, including cakes, brownies, cookies, pastries, etc. Their demand in the artisanal chocolate manufacturing industries has contributed significantly to the global chocolate confectionery market. Its versatile nature makes it a suitable choice in the hospitality sector for crafting exquisite desserts and enhancing the overall culinary experience.

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There is a considerable demand for milk chocolates in the general population due to their smooth and creamy texture, making it a favored choice for consumers of all ages. As compared to other confectioneries, milk chocolates are more affordable. This makes it available in every nook and corner of the world, cementing its dominance in the chocolate confectionery market. Market players are incorporating innovative flavors and textures in their products to cater to the rising consumer demand for chocolates.

Key Takeaways from the Chocolate Confectionery Market

  • Milk chocolates command a substantial market share of 46.40% in 2024, emerging as the predominant choice in the chocolate confectionery market.
  • In 2024, chocolate bars secured a robust market lead, claiming a share of 31.70% of the chocolate confectionery market.
  • The chocolate confectionery market in China is predicted to grow at a remarkable CAGR of 9.10% through 2034.
  • The chocolate confectionery market in India is projected to rise at a whopping 8.60% CAGR through 2034.
  • The chocolate confectionery market in Brazil has the potential to increase at a 7.80% CAGR through 2034.
  • Indonesia’s chocolate confectionery market is expected to rise at a 7.20% CAGR through 2034.
  • The chocolate confectionery market in Mexico is predicted to grow at a CAGR of 6.30% through 2034.

“Key players in the chocolate confectionery market are introducing new flavors to make their products more appealing to consumers. In the last few years, sugar-free options, eco-friendly packaging, and sustainable sourcing of cocoa have been shaping the evolving landscape of the chocolate confectionery market,” Says Nandini Roy Choudhury, Client Partner at Future Market Insights.

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Competitive Landscape in the Chocolate Confectionery Market

The chocolate confectionery market is filled with numerous players who, over the years, have gained a loyal consumer base. To stay in this competition, these brands have adopted effective marketing strategies and have successfully penetrated every part of the world. These brands ensure that they keep up with changing consumer preferences, which is evident from their introduction of new varieties that cater to specific consumer groups. New entrants, however, have to deal with challenges such as low profit margins, limited market reach, and lack of financial resources to stay relevant in this cut-throat competition.

Key Companies

  • Mars, Incorporated
  • Mondelez International
  • Ferrero Group
  • Nestlé
  • Meiji Co. Ltd.
  • The Hershey Company
  • Lindt & Sprüngli AG
  • Lotte
  • Pladis
  • Glico Group

Recent Developments in the Market

  • In September 2023, Nestle acquired a majority stake in premium chocolate business Grupo CRM in Brazil through a significant deal with Advent International, solidifying its position as a key player in the South American chocolate market.
  • Bühler, the Swiss technology group, announced the launch of a food innovation hub in Uzwil, Switzerland, in November 2023, providing advanced chocolate confectionery product development facilities.
  • In May 2023, Dharampal Satyapal Group (DS Group) strengthened its presence in the Indian chocolate and confectionery market by acquiring The Good Stuff, the owner of the LuvIt brand.

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Market Segmentation

By Product type:

  • Boxed
  • Chocolate Bars
  • Chips & Bites
  • Truffles & Cups
  • Others

By Form:

  • Milk
  • Dark
  • White

By Distribution Channel:

  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Online
  • Others

By Region:

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

About Future Market Insights (FMI)

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

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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Sweet Protein Market Set to Surge to US$ 19.7 Million by 2033 with 8.1% CAGR: Seizing Opportunities in Natural Sweetener Trend

The global sweet protein market value is projected to increase from US$ 12.1 million in 2023 to US$ 19.7 million by 2033. It will exhibit robust growth, with sweet protein demand rising at a CAGR of 8.1% throughout the forecast period.

Demand remains particularly high for thaumatin, with the target segment expected to account for a revenue share of 43% in 2023. This is due to its high sweetness intensity, long-lasting effect, and other benefits.

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There is a growing consumer desire for natural substitutes for food additives, including sweeteners, that have undergone little processing. This is putting sweet protein into the limelight and boosting their sales.

Companies are adding sweet proteins to improve the flavor of a variety of functional food and drinks, such as protein bars, shakes, and snacks, without disturbing the nutritional content. This will boost the growth of the sweet protein market during the assessment period.

The movement towards plant-based and vegan diets is also impacting sales of sweet proteins. Also, there is a growing market for sweet proteins and other substitute sweeteners with national initiatives for reducing sugar consumption.

Key sweet protein manufacturers are looking to extract their products from natural sources like stevia and monk fruits. This will help them to walk with the plant-based trend. Several companies are also focusing on using advanced extraction and processing technologies to solidify their positions.

“Consumers are becoming picky about ingredients added to food, and they are searching for products with clean labels, which is creating growth prospects for the sweet protein industry. Also, new developments in food processing have made it possible to create products with better flavor profiles, which appeals to customers more,” – says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience.

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Key Takeaways from the Global Sweet Protein Market Study Report

  • The global market for sweet proteins is set to attain a valuation of US$ 19.7 million in 2033.
  • By product type, the thaumatin category is expected to account for a value share of 43% in 2023.
  • Based on end-use application, the confectionery segment is projected to hold a revenue share of 24% in 2023.
  • The United States held around 17% share of the global market in 2022.
  • Demand for sweet proteins in the United Kingdom is set to rise at 5.6% CAGR through 2033.
  • China is anticipated to register a CAGR of 5.6% between 2023 and 2033.
  • Sales of sweet proteins in India are projected to soar at 6.7% CAGR through 2033.

Who is Winning?

The market competition for sweet proteins is still consolidated and sparsely distributed. To satisfy the precise taste and functional needs of consumers as well as food and beverage firms, market players are providing customized sweet protein blends. They are utilizing novel technologies to reduce costs and improve the quality of their products.

Recent Developments by the Sweet Protein Market Players:

  • Sweegen, a global leader in sweetness and flavor innovations, introduced its Sweetensify Flavors product line, its newest sweet protein solution, in April 2023.
  • Oobli chocolate bars, the first-ever sweet protein-powered confection to hit the market, were introduced by Oobli in December 2022.

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Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global sweet protein market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study incorporates compelling insights on the sweet protein industry based on product type (brazzein, thaumatin, monellin, mabinlin, curculin, and other types) and end-use application (bakery goods, sweet spreads, confectionery, sauces, jams, and dressing, syrups, chocolate, ice cream, yogurt, dairy product, carbonated drinks, and other applications) across several regions.

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Beet Sugar Market Poised to Reach US$ 7.8 Billion by 2034 with 5.5% CAGR: Seizing Opportunities Amid Rising Food & Beverage Demand

As per the latest analysis, the global beet sugar market value is expected to total US$ 4.6 billion in 2024. Overall, beet sugar demand is projected to increase at 5.5% CAGR throughout the forecast period. Accordingly, the total market valuation is set to reach US$ 7.8 billion by 2034.

Demand in the market remains exceptionally high for granulated beet sugar. The target segment is anticipated to account for a revenue share of 45.6% in 2024. This can be attributed to growing usage of granulated sugar for different applications due to its versatility.

Several factors are expected to drive growth of the beet sugar industry during the assessment period. These include high sugar demand, expanding food & beverage industry, and rising preference for cane sugar alternatives.

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In recent years, there has been a dramatic rise in sugar demand, including beet sugar, and the trend is expected to continue through 2034. This is due to factors like population explosion, urbanization, and changing dietary patterns.

The food and beverage industry is becoming a leading consumer of beet sugar. Top food and beverage companies are incorporating beet sugar into a wide range of products. This is expected to boost the global beet sugar market during the forecast period.

The versatility of beet sugar, coupled with its natural origin, has made it a sought-after ingredient in the food industry. Hence, rising production and consumption of food products like confectioneries, bakery items, and beverages will likely uplift beet sugar demand.

Another key factor expected to foster market growth is the rising demand for natural sugar alternatives. Similarly, the trend of clean-label products will benefit the global beet sugar industry.

Top players are focusing on increasing their production capacities to meet growing consumer demand. They are also making substantial investments in new processing equipment and acreage expansion.

Key Takeaways from the Report-

  • The global market for beet sugar is expected to reach a valuation of US$ 7.8 billion by 2034.
  • By applications, the bakery products segment is set to hold a market share of 25.5% in 2034
  • Based on form, the granulated sugar segment is projected to account for a value share of 45.6% in 2024.
  • By nature, the conventional beet sugar segment is estimated to hold a market share of 70.0% in 2024.
  • India is expected to register a CAGR of 6.2% from 2024 to 2034.
  • Sales in the United States are projected to total US$ 2.7 billion by 2034.

“The global beet sugar market is a significant player in the overall sugar industry, serving as an alternative to cane sugar and high-fructose corn syrup. It is driven by the demand from the food and beverage industry, which incorporates beet sugar into a wide range of products such as confectionery, bakery items, and beverages.” -says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)

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Who is Winning?

United Sugars Corporation, Now Foods, Domino Sugar, Michigan Sugar Company, Amalgamated Sugar Company, American Crystal Sugar Company, Southern Minnesota Beet Sugar Cooperative, Western Sugar Cooperative, Longmont Sugar Company, Cosun Beet Company, British Sugar, Associated British Foods plc (ABF) and others are the few leading beet sugar manufacturers listed in the report.

Key players are using a wide range of strategies to stay ahead of the competition. These include new product launches, mergers, partnerships, acquisitions, facility expansions, and collaborations.

Acquisitions and mergers are beneficial for companies in terms of improving their product quality and expanding their market reach. This is because combining resources, expertise, and customer base can lead to access to new technology, distribution channels, manufacturing facilities, and talent.

Launching new products can help businesses meet the changing consumer demands and stay competitive. It will also allow them to attract new customers.

Recent Development:

  • In 2021, Béghin introduced two new ranges of sugar products in France, including French organic sugar and sugar from sugar beets.

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Beet Sugar Market Outlook by Category

By Product Type:

  • White Sugar
  • Brown Sugar

By Form:

  • Granulated Sugar
  • Powdered Sugar
  • Liquid Sugar

By Application:

  • Dairy Products
  • Bakery Products
  • Beverages
  • Confectionery Products
  • Dietary Supplements
  • Snacks
  • Others (Electrolyte Mixes and Pharmaceuticals)

By Nature:

  • Organic
  • Conventional

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Spice Coated Casing Market to Reach US$ 629.5 Million by 2034: Riding the Wave of Rising Consumer Demand and Health-Conscious Trends

The global spice coated casing market is expected to be worth US$ 429.4 million in 2024. The sector is expected to be valued at US$ 629.5 million by 2034, expanding at a CAGR of 3.9% between 2024 and 2034. With a spike in popularity across numerous cuisines and food applications, the market for spice-coated casing is seeing expansion driven by rising consumer demand for delicious and creative food items. The rising popularity of ethnic meals and new culinary trends support the spice coated casing market’s rise.

The growing trend of consumers making health-conscious purchases has led them to select spice-coated food casings over traditional ones. The perceived flavor benefits of adding extra spice to meal portions may be responsible for the rise in demand. The increasing population and urbanization drive growth in the market for spice coated casing. The market is growing because of shifting customer preferences for artificial casings and improved spice adhesion provided by these coated casings. Furthermore, the need for spice coated casings is rising because of the rise in fast food chains and modernity, particularly in Asian countries.

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Consumers’ preferences for handy goods develop, and the cost of producing artificial casings decreases. The taste of food products is improved by these casings, which also provide extra features like a zipper, quick opening, and uncoated clip support, which drives rising demand for alternatives.

“Spice coated casings market is positive due to the growing demand for flavored and ready-to-eat meat products, as consumers seek unique and exotic flavors. The convenience of these products and the trend of snacking and indulgence are driving their popularity. Manufacturers invest in developing innovative, premium-quality spice coatings to cater to consumers’ evolving preferences.” -says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)

Key Takeaways from the Spice Coated Casing Market

  • The roll tubing casing segment is set to capture a significant 42.3% share of the spice coated casing industry in 2024.
  • The plastic casings are estimated to dominate with a 35.3% market share in 2024.
  • The United States spice coated casing industry is projected to experience a CAGR of 2.9% through 2034.
  • Germany spice coated casing market is expected to demonstrate a CAGR of 2.6% through 2034.
  • The France spice coated casing industry is anticipated to see a CAGR of 3.3% through 2034.
  • Japan spice coated casing industry showcases a CAGR of 2.8% through 2034.
  • China spice coated casing market is expected to display a modest CAGR of 5.4% through 2034.

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Competitive Landscape

The spice coated casing sector is a fiercely competitive market, driven by price tactics, marketing campaigns, research and development, and the creation of novel products. Due to its fragmentation and intense competition, strategic decision-making and competitive pressures are given more weight. Players invest heavily in research and development to produce effective food layer casings.

Strategic partnerships and collaborations are crucial for businesses to increase market share and operational efficiency. Companies can achieve shared objectives by utilizing each other’s resources and abilities. Marketing strategies, such as new releases and collaborations, can increase the spice coated casing market, raise product awareness, and gain a competitive advantage. Continuously developing new strategies helps businesses stay ahead of the curve.

Recent Developments in the Spice Coated Casing Market

  • Handtmann launched the PVLH-251 AL system in August 2023, which automates the production process for medium-scale and industrial sausage producers. The system includes portioning, linking, and hanging cooked and dry sausages in cellulose and collagen casing.
  • The ‘Slow Food in Western Visayas’ culinary and rural tourism event was arranged by the Department of Tourism in September 2023 to elevate the region to the forefront of the Philippines’ slow food travel program expansion.
  • Sahlen Packing Co. began selling 16-ounce packages of Sahlen’s Tender Casing Pork & Beef Smokehouse Hot Dogs and 13.7-ounce packs of Sahlen’s Tender Casing All Beef Smokehouse Hot Dogs in some Food Lion locations in November 2023.

Key Companies in the Spice Coated Casing Market

  • Kalle GmbH
  • Almol (Australia) Casing Pty Ltd.
  • Natural Casings Company Inc.
  • Walsroder Casings GmnH
  • Viskase Companies, Inc.
  • MCJ Casings Ltd.
  • World Casings Corporation
  • Rugao Qingfeng Casing Co.
  • Elshazly Casings Company
  • DAT-Schaub Group, Saria Se And Co. Kg

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Key Segments

By Product Type:

  • Rolled Tubing Casings
  • Flat Sheets Casings
  • End Sealed Casings
  • Cut Sleeves Casings

By Coating Type:

  • Plastic Casings
  • Spice sheets
  • Spice cut pieces
  • Spice reels

By Material Type:

  • Real parchment
  • Woven fabric
  • Protein coated woven fabric
  • Plastic coated woven fabric
  • Hardened protein

By Application Type:

  • Dry sausage
  • Smoked pork and ham
  • Cheese

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Frozen Dough Market Set to Reach $29.57 Billion by 2034: Capitalizing on Growing Demand and Versatile Applications

As per the latest analysis, the global frozen dough market value is projected to expand from US$ 17,456.2 million in 2024 to US$ 29,567.4 million by 2034. Over the assessment period, global frozen dough demand will likely increase at a CAGR of 5.4%.

Frozen bread dough remains the top-selling type in the market, owing to its multiple advantages and growing usage in different recipes. The target segment is expected to hold a market share of 23.2% in 2024.

Several factors are anticipated to propel the growth of the frozen dough industry during the assessment period. These include

  • Rising demand for convenient food products
  • Increasing consumption of bakery products
  • Growing interest in home cooking
  • Rising usage of frozen food in the expanding food services industry
  • Expansion of e-commerce and online grocery shopping
  • Innovation in frozen dough flavors and varieties

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The convenience offered by frozen dough to any individual or the food service industry is a prominent factor expected to boost the growth of the frozen dough industry. Frozen dough eliminates the need for time-consuming dough preparation from scratch and allows quick and easy baking. This makes it popular among people with hectic lifestyles.

Frozen dough is gaining traction as it offers versatility in shaping and portioning. It can be easily customized to create several baked goods, such as bread, pizza, pastries, crust, and rolls. This flexibility appeals to both individuals experimenting with homemade baking and food service establishments looking to offer a diverse menu.

The growing trend of home baking and the desire for homemade-style baked goods will likely propel demand for frozen dough through 2034. Similarly, innovative marketing strategies employed by key manufacturers are expected to foster market growth during the forecast period.

Top frozen dough manufacturers are investing in research and development to introduce new varieties and types of frozen dough. This will help them increase brand preference and sales.

For instance, recently, Yough, a brand of Better-for-you dough, unveiled unique two-ingredient pizza dough prepared with yogurt and organic wheat flour. Continuous innovation helps in building a strong brand image by offering unique solutions to consumers.

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Key Takeaways from the Frozen Dough Report:

  • The global market for frozen dough is expected to total US$ 17,456.2 million in 2034.
  • Based on type, the frozen bread dough segment is set to account for a revenue share of 23.2% in 2024.
  • By distribution channel, the online sales segment will likely grow at 5.9% CAGR through 2034.
  • North America is expected to hold a leading value share of 23.8% in the global market by 2034.
  • India’s market is estimated to witness a value CAGR of 4.7% during the projection period.

“The global frozen dough market is poised to rise steadily during the forecast period, driven by consumer demand for convenience and innovative flavors. Global culinary influences and e-commerce accessibility are also expected to contribute to sustained growth and market expansion.” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Companies Profiled:

  • General Mills
  • Tyson Foods Inc.
  • Ajinomoto
  • Rich Products Corp.
  • CSM ingredients
  • J&J snacks Foods Corp.
  • Bridgeford Foods
  • Europastry
  • Nestle
  • Guttenplans

Leading companies are concentrating on introducing new frozen dough varieties to meet evolving consumer needs and preferences. They are also integrating advanced manufacturing and packaging technologies as well as employing strategies like facility expansions, advertisements, acquisitions, and partnerships to stay ahead of the competition.

Recent Development:

  • In November 2020, NIPPN Co., Ltd. announced the completion of its new frozen dough manufacturing plant in Thailand.

Get More Valuable Insights:

  • Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global frozen dough market, presenting historical demand data (2019 to 2024) and forecast statistics for the period from 2024 to 2034.
  • The study incorporates compelling insights on the frozen dough industry based on type (biscuit & cookies, bread, pizza crust, rolls, pastry, bagels, and others), distribution channel (business to business, hypermarket/supermarkets, specialty stores, online sales channel), and region.

Frozen Dough Market by Category:

By Type:

  • Biscuit & Cookies
  • Bread
  • Pizza Crust
  • Rolls
  • Pastry
  • Bagels
  • Others

By Distribution Channel:

  • Business to Business
  • Hypermarket/ Supermarkets
  • Speciality Stores
  • Online Sales Channel

By Region:

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

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About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Insights into the Booming Global Deodorization Systems Market: Forecasting a US$ 5.2 Billion Growth by 2030

The global deodorization systems market size is expected to reach US$ 5.2 Bn by the end of 2030. According to a study by Future Market Insights (FMI), the market will show a steady rise at 3.4% CAGR between 2020 and 2030. According to the report, the market is anticipated to grow in the forecast period owing to improvements in the quality of the deodorization systems coupled with the increasing demand for deodorizers from the oil industries.

Deodorization systems play a crucial role in various industries, particularly in waste management, food processing, and wastewater treatment. These innovative systems are designed to eliminate or reduce unpleasant odors and volatile organic compounds (VOCs) from the air, ensuring a healthier and more pleasant environment for both workers and nearby communities.

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One of the key components of deodorization systems is the use of advanced technologies like activated carbon filters, biofiltration, and chemical scrubbers. Activated carbon filters are highly effective in adsorbing and removing odorous compounds, while biofiltration employs microorganisms to biodegrade organic pollutants, transforming them into harmless byproducts.

The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.

Some of the players operating in the global deodorization systems market include Desmet Ballestra (Belgium), Gianazza International S.p.A. (Italy), Crown Iron Works (US), DVC Process Technologists Pvt. Ltd. (India), Alfa Laval AB (Sweden), Zhengzhou Sunshine Machinery Co. Inc. (China), and Gianazza International S.p.A. (Italy). The manufacturers are highly focused on taking development and marketing strategy to boost this market’s growth.

During the forecast period, the chemical refining segment is expected to hold the largest share in the deodorization systems market as it is a fairly efficient method of reducing the fatty acid content in crude oil with higher boiling point.

This process is used to treat high free fatty acid content in the oil. Chemical refining is performed to extract the fatty acids from the crude oil that are then neutralized using caustic soda. It results in batch settling or centrifugal separators separating the sodium soaps. Then, the neutral oils are bleached and deodorised.

It includes in-depth insights into the deodorization systems market. Some of these are:

  • The estimated value of the market was at US$ 3.7 Bn in 2020. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
  • Asia Pacific accounts for the largest share in the global deodorization systems market due to the high industrial growth potential and industry favorable policies.
  • The growth in manufacturing sector and upcoming demand for hybridization of algal oils with regular oils is likely to showcase growth opportunities for the deodorization system market during the forecast period.
  • In the near future, the continuous segment will account for maximum share in the global demand for deodorization systems.
  • Rising equipment exports and increased demand for edible oil are some of the main factors that will increase the growth of this market in the near future.

Variation in Consumption Pattern Due to COVID-19 Outbreak Will Impact Growth

As the coronavirus outbreak continues to develop, now is the time for food and beverage companies to consider response actions to help mitigate their risk and prepare for how they will deal with the fallout from the coronavirus. An effective plan should include establishing an interdisciplinary crisis response team to identify, assess and manage the risk presented. The team should include personnel from purchasing, operations, quality, regulatory, finance and legal. Coronavirus outbreak had a considerable impact on consumption pattern of buyers. This will invariably impact growth forecasts for the market.

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Who is Winning?

Some of the players functioning in the global deodorization systems market include Desmet Ballestra (Belgium), Gianazza International S.p.A. (Italy), Crown Iron Works (US), DVC Process Technologists Pvt. Ltd. (India), Alfa Laval AB (Sweden), Zhengzhou Sunshine Machinery Co. Inc. (China), and Gianazza International S.p.A. (Italy). The manufacturers are highly focused on implementing creation and marketing strategies to stimulate this market’s growth.

Besides that, mergers and acquisitions continue to be a common strategy among market players. With strategic partnerships, corporations plan to extend their regional footprint.

DEODORIZATION SYSTEMS MARKET TAXONOMY

The global Deodorization Systems market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

Component

  • Pumps
  • Towers
  • Coolers
  • Oil & Management Systems
  • Tanks

Technology

  • Thin Film
  • Packed Column

Refining Method

  • Physical Refining
  • Chemical Refining

Edible Oil

  • Soybean Oil
  • Olive Oil
  • Peanut Oil
  • Canola Oil
  • Sunflower Oil
  • Palm Kernel Oil
  • Cottonseed Oil
  • Coconut Oil
  • Palm Oil

Operation

  • Batch Deodorization Systems
  • Semi- Continuous System
  • Continuous Deodorization Systems

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

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KEY RESEARCH FINDINGS

  • Deodorization systems help in refining edible oils and fats. It’s a multi-step process that includes oil desecration, heating and cooling, deodorization-de acidification, and vapour scrubbing systems
  • Coconut oil, palm oil, olive oil, mustard seed oil, peanut oil, soybean oil, and sunflower are some of the oil which can be refined by the deodorization process
  • Key factors contributing to the growth of the global deodorization systems market are growing environmental issues, rising industrialization, increasing market awareness and the inclination of producers towards cost-effectiveness
  • The chemical processing industry is expected to account for the leading share in the global deodorisation systems market
  • Among edible oil types, palm oil accounted for higher share the global deodorization systems market.
  • The Asia Pacific market is expected to rise at the highest CAGR due to the remarkable expansion of the food and beverage and industry in countries such as India, China, Indonesia, Vietnam, South Korea, Thailand and Malaysia.

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Lignocellulosic Biomass Market Projected to Reach US$ 9.06 Billion by 2034, Fueled by Sustainable Resource Utilization and Growing Bioeconomy Demand

The global lignocellulosic biomass market is valued at US$ 4,273.9 million in 2024 and is anticipated to reach US$ 9,057.5 million by 2034. As per the estimates, the lignocellulosic biomass market size is likely to expand at a CAGR of 7.8%.

Lignocellulosic biomass is essential to the sustainable use of resources as bioeconomy grows, transforming industries in the process. Businesses that strategically integrate biomass goods into their operations benefit from this shift’s economic potential. This trend promotes long-term growth and resilience in a world with dwindling resources by positioning companies as environmentally responsible and responsive to changing market needs. It also corresponds with global sustainability goals.

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To maximize the economic feasibility of lignocellulosic biomass consumption, ongoing advancements in bioenergy technologies—such as novel biochemical and thermochemical processes—are essential. Advances in fermentation processes, effective enzymatic hydrolysis, and better pretreatment techniques are raising production yields, cutting expenses, and increasing profitability for industry participants. Businesses that allocate resources to research and development in order to include and utilize these innovative technologies have a competitive advantage, positioning them to generate biofuels and bioproducts with increased efficacy and less environmental impact.

The transition to decentralized biomass processing represents a calculated risk for businesses looking to maximize profits and maintain operational flexibility. Localized energy production can be achieved by establishing modular processing units and smaller-scale biorefineries, which also optimize resource usage and lower transportation costs. This trend gives businesses a competitive edge in a fast-paced business climate by strengthening supply chains’ resilience, encouraging flexibility to regional differences in biomass availability, and positioning them as nimble competitors in the changing bioenergy industry.

Key Takeaways from the Lignocellulosic Biomass Report:

  • The global market size expanded at a 5.2% CAGR from 2019 to 2023.
  • North America is projected to hold a dominant value share of 20.8% in the global market by 2034.
  • The wood source segment garnered 35.7% of market shares in 2024.
  • The bioenergy product segment captured 14.7% of market shares in 2024.
  • The market size in the United States is projected to increase at a 5.0% CAGR through 2034.
  • The market size in Brazil is anticipated to develop at a 4.5% CAGR through 2034.
  • The market size in Canada is estimated to surge at a 4.0% CAGR through 2034.
  • The market size in China is expected to thrive at a 6.5% CAGR through 2034.

“The lignocellulosic biomass market is poised for growth, driven by increasing demand for sustainable bioenergy and bio-based products. Technological advancements and global interest signal a promising trajectory.” – Nandini Roy Choudhury, Client Partner at Future Market Insights

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Competitive Landscape:

The lignocellulosic biomass market is extremely competitive.

  • Ecovia Renewables
  • Versalis
  • ETIP Bioenergy
  • The Dow Chemical Company
  • Nippon Paper Group
  • Fortum
  • Circa
  • LyondellBasell
  • Novozymes
  • Fulcrum Bioenergy

are among the key lignocellulosic biomass manufacturers listed in the report. These companies use strategies such as mergers & acquisitions, partnerships, distribution agreements, collaborations, and advertisements to gain a competitive edge in the market.

Lignocellulosic Biomass Market Segmentation:

By Source:

  • Wood
  • Crop Residues
  • Grass
  • Agricultural Residues

By Application:

  • Bioenergy Production
  • Bioproducts
  • Materials and Composites
  • Animal Feed and Bedding
  • Soil Amendment and Erosion Control
  • Biomass Power Generation

By Region:

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

Recent Developments:

  • In September 2023, Versalis acquired Italy-based bioplastics manufacturer Novamont. Furthermore, the company announced its partnership with Technip Energies to convert plastic waste into purified pyrolysis oil.
  • In February 2023, Estonian startup New Standard Oil successfully commissioned their first industrial-scale prototype for drying and torrefaction of biogenic feedstock with superheated steam at atmospheric pressure.

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

The study incorporates compelling insights on the Lignocellulosic Biomass market based on Source (Wood, Crop Residues, Grass, and Agricultural Residues), Application (Bioenergy Production, Bioproducts, Materials and Composites, Animal Feed and Bedding, Soil Amendment and Erosion Control, and Biomass Power Generation), across various regions.

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About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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sales@futuremarketinsights.com
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Global Pulmonary Function Testing Device Market will advance at a CAGR of 4.8%, reaching a Market Valuation of US$ 268.0 million by 2034 FMI Report

The global pulmonary function testing device market is forecasted to reach a US$ 167.3 million market valuation in 2024. The subject market shall advance at a CAGR of 4.8% to reach US$ 268.0 million by 2034. Various market drivers can be identified to fuel the growth of the subject market.

Chronic respiratory diseases are seen to have increased in the past few years. The main reason behind this is the traces of the COVID-19 virus and its variants. These diseases have created serious breathing issues for many people, which require pulmonary function assistance. Therefore, this is the fundamental driver for the subject market.

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Technological development has helped various healthcare sector players innovate their products and services. This innovation delivers optimum comfort to patients and surgeons. Consequently, integrating technology into traditional systems is encouraged, propelling market growth.

Key players and governments have made investments in improving the healthcare sector. This encourages existing players to innovate their products and services in the global pulmonary function testing device market, another crucial market driver for the subject market.

Despite various drivers, it needs to be noted that the subject market needs to advance more promisingly, which was the case in the historic period. The main reason behind this is the decline in cases caused by the COVID-19 pandemic. Due to a significant decrease, the urgency of pulmonary testing devices has yet to be seen, which reduces the demand. Hence, this is one of the barriers for the market under consideration, causing it to retard the growth rate.

Apart from this, the affordability of testing equipment is under question. Due to this, the target audience of the subject market is limited. Consequently, the growth opportunities for the market are reduced drastically.

Key Takeaways from the Market Study:

  • The South Korean market registers the highest CAGR of 7.0% in the subject market for the forecasted period.
  • The Japanese market registers the second-fastest growth rate among the Asian market at a CAGR of 6.4%.
  • The next decade shall help the American market to advance at a moderate CAGR of 5.1%.
  • Handheld devices are the market segment for the global pulmonary function testing device market that secures 60% of the market share, which is the largest.

“The spirometry tests form a substantial market segment that has the potential to drive the market under consideration, holding about 46% of the market share. This allows the subject market to get influenced due to the surge in the demand for the test kits ordered by hospitals and clinics,” says the FMI analyst.

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Competitive Landscape:

Various competitors within the global pulmonary function testing device market actively participate in helping the market grow. Additionally, these players develop their products and services to help respective segments contribute significantly to the market’s growth.

  • In May 2023, Medtronic acquired EOFlow Co. Ltd. This strategic move has helped the organization explore the market and diversify its existing offerings to expand in the market.
  • In February 2024, Philips developed a high-power and fast-motorized mobile C-arm that will help surgeons deliver better surgeries. This will also help them treat patients better, thereby giving them better comfort.

Key Companies Profiled:

  • Koninklijke Philips N.V.
  • Medical Equipment Europe
  • Medtronic
  • Minato Holdings Inc.
  • Morgan Scientific Inc.

Pulmonary Function Testing Device Market- Key Segments

By Product Type:

  • Handheld
  • Tabletop

By Test Type:

  • Spirometry
  • Lung Volume Test
  • Gas Diffusion Test
  • Exercise Stress Test
  • High Altitude Simulation Testing
  • Others

By Application:

  • Chronic Obstructive Pulmonary Disease
  • Asthma
  • Pulmonary Fibrosis
  • Others

By End Use:

  • Hospitals & Clinics
  • Diagnostic Centers
  • Homecare Settings
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • The 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.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Commercial Pizza Oven Market Forecast: Industry Anticipated US$ 7579.4 million by 2032

The commercial pizza oven market is poised for significant growth with a projected CAGR of 6.6% during the forecast period from 2022 to 2032. Beginning at a valuation of US$ 4,000.0 million in 2022, the market is anticipated to surpass US$ 7,579.4 million by the year 2032.

Pizza ovens hold a crucial position as essential kitchen appliances in various establishments including pizza outlets, cafes, hotels, resorts, catering services, fast food chains, and coffee shops. Given their widespread use across culinary and hospitality industries, the demand for commercial pizza ovens is expected to surge consistently throughout the forecast period.

The spending patterns of millennials, characterized by increased disposable income and urbanization, are expected to contribute significantly to the growth of the commercial pizza oven market. Additionally, the emergence of new hospitality establishments in emerging economies further fuels the market potential, indicating promising growth prospects in the coming years.

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Demand Factors

Brick pizza ovens are poised to witness remarkable demand worldwide owing to their cost-effectiveness and efficiency. These ovens allow for the simultaneous cooking of multiple pizzas, making them particularly sought-after among large-scale restaurant and café chains on a global scale.

The ongoing expansion of the hospitality and food industries globally serves as a key driver for the increasing sales of commercial pizza ovens in the forecast period. With various pizza outlets diversifying their menus to cater to evolving consumer preferences, the demand for commercial pizza ovens is expected to experience a significant boost.

For instance, in January 2023, Nomad Pizza, a delivery-only pizza establishment established in Delhi in 2019, unveiled a new menu designed to offer customers a culinary journey. By introducing a range of flavors from different regions around the world, from Korea to Naples, the company aims to provide its customers with an unforgettable dining experience.

Key Companies

  • Gozney
  • FONTANA FORNI
  • Peppino
  • Forno Bravo
  • Mugnaini Imports, Inc.
  • Wachtel GmbH
  • Californo
  • Le Panyol
  • The Stone Bake Oven Company

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Market Outlook by Category

By Product Type:

  • Gas Pizza Oven
  • Electric Pizza Oven
  • Wood-fired Pizza Oven

By Type:

  • Deck
  • Convection
  • Brick
  • Conveyer
  • Countertop

By Application:

  • Hotels
  • Restaurants
  • Cafés
  • Bakeries
  • Catering Units

By Sales Channel:

  • Online
  • Offline

By Region:

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

Fragrance Product Market Set to Bloom at a 9% CAGR, Reaching US$ 121.75 Billion by 2034

Fragrance Product Market
Fragrance Product Market

The fragrance product market is expected to be valued at US$ 51.43 billion by 2024. The market valuation is estimated to be US$ 121.75 billion by 2034, registered at a CAGR of 9%. The fragrance product market is driven by a multitude of factors, including evolving consumer preferences, technological advancements, and sustainability initiatives. One of the primary drivers is the increasing demand for personalized and natural fragrances, as consumers seek unique scent experiences that resonate with their tastes and values.

Advancements in fragrance technology, such as AI and machine learning, enable companies to innovate and develop novel fragrance formulations that cater to diverse consumer needs. The market faces several challenges, such as regulatory pressures regarding ingredient safety and environmental concerns. Stringent regulations require fragrance companies to adhere to strict ingredient sourcing, labeling, and product safety guidelines, adding complexity to the product development process. Fluctuating raw material prices and supply chain disruptions challenge manufacturers in maintaining cost-effective production and distribution.

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Despite these challenges, the fragrance product market is witnessing several key trends shaping its growth trajectory. One notable trend is the rise of sustainable and eco-friendly fragrances, driven by increasing consumer awareness of environmental issues and the desire for ethically sourced products. Companies are investing in sustainable practices, such as renewable ingredients and eco-friendly packaging, to meet consumer demand for greener alternatives.

Another trend is the integration of digital technologies, such as augmented reality (AR) and virtual reality (VR), into fragrance marketing strategies. Brands are leveraging AR and VR to create immersive and interactive experiences for consumers, allowing them to explore fragrances virtually before purchasing. This digitalization of the fragrance industry enhances consumer engagement and drives sales in an increasingly online-driven market.

Key Takeaways from the Market Study

  • Under nature type, the synthetic segment is registered to hold a market share of 32.6% in 2024.
  • India is estimated to register at a CAGR of 8% by 2034.
  • Singapore experiences significant growth, projected at a CAGR of 6.3% by 2034.
  • Based on the distribution channel, the offline segment is accounted to hold a share of 79.4% in 2024.

“The increasing demand for the continuous evolution of consumer preferences is one significant driver for the fragrance product market,” comments a Future Market Insights analyst.

Competitive Landscape

A mix of global giants like Avon Products, Inc. marks the fragrance product market’s competitive landscape. CavinKare Pvt. Ltd, Henkel AG & Co., and Lion Corporation alongside emerging niche brands. Established players leverage extensive portfolios and brand recognition, while smaller brands innovate with unique formulations.

Direct-to-consumer brands capitalize on digital platforms. Intense competition fosters innovation and collaboration to meet diverse consumer demands and sustain market share amidst evolving trends.

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Some of the key developments are:

  • In September 2022, Givaudan revealed a collaboration with LanzaTech, aiming to create sustainable fragrance ingredients from renewable carbon sources. This initiative underscores their commitment to eco-friendly practices in fragrance development.
  • In September 2021, Coty Inc. partnered with Perfect Corp. to integrate AI and AR technologies into its cosmetics brands’ digital marketing strategies. This strategic alliance enhances Coty’s digital presence and offers consumers engaging and immersive experiences through innovative technology solutions.Top of Form

Key Players are:

  • International Flavors & Fragrances Inc.
  • Sensient Technologies Corporation
  • Givaudan SA
  • Symrise AG
  • Firmenich International SA
  • Takasago International Corporation
  • Avon Products, Inc.
  • CavinKare Pvt. Ltd
  • Henkel AG & Co.
  • Lion Corporation

More Valuable Insights Available

Future Market Insights offers an unbiased global fragrance product market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034

To understand market opportunities, the fragrance product market is segmented based on Nature (Natural, Synthetic), Application (Perfumes, Fine Fragrances, Cosmetics & Toiletries, Essential Oils & Aromatherapy, Hair Care, Soap, Car Care, Tobacco, Detergent), Fragrance Type (Citrus, Fruity, Spicy, Floral, Woody, Mossy, Amber, Others), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa)

About the Consumer Product Division at Future Market Insights

The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.

Author

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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