Market Research Blog – Page 3187 – New Product Development

Investing in the Booming Eggshell Membrane Powder Market with a Projected US$ 5.3 Billion Valuation by 2033 and 13.1% CAGR Growth

The eggshell membrane powder market is likely to capture a valuation of US$ 1.4 billion in 2023. The market is estimated to rise to US$ 5.3 billion by 2033. The market is expected to register a CAGR of 13.1% during the forecast period.

How Manufacturers Bring Opportunities in the Market?

Manufacturers are bringing opportunities by developing innovative products and expanding their distribution channels to reach more consumers. Here are a few ways in which manufacturers are contributing to the growth of the market:
Developing new products:Manufacturers invest in research and development to create new eggshell membrane powder formulations. These formulations can target specific health conditions, such as joint pain, skin aging, and digestive issues.
Enhancing production processes:Manufacturers are improving their production processes to increase efficiency and reduce costs. It allows them to offer their products at competitive prices while maintaining quality. Additionally, manufacturers are investing in sustainable and eco-friendly production methods, which appeal to environmentally conscious consumers.
Expanding distribution channels:Manufacturers are expanding their distribution channels to reach more consumers. It includes selling their products online, through retailers, and partnerships with other companies. By increasing their reach, manufacturers can tap into new markets and attract a more extensive customer base.
Providing education and awareness:Manufacturers are educating consumers about the health benefits of eggshell membrane powder. It helps to increase demand for the product and encourages consumers to make informed choices about their health and wellness.

Overall, manufacturers are bringing opportunities by creating new and innovative products, improving production processes, expanding distribution channels, and awareness to consumers.

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Key Takeaways:

The eggshell membrane powder market is expected to achieve a valuation of US$ 5.3 billion by 2033.
The global market exhibits a commendable CAGR of 13.1% during the forecast period.
The United States market anticipates a CAGR of 7.6% through 2033.
Historically, the market secured a CAGR of 7.6% between 2018 and 2022.

Other Essential Players in the Global Market are:

Biova LLC
Ecovatec Solutions
Microcore Research Laboratories
Eggnovo SL
Eggbrane
Stratum Nutrition
Certified Nutraceuticals Inc
Bolise Co Limited
Mitushi Biopharma
Kewpie Corporation

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Recent Developments in the Market are:

Companies offer innovative products, leverage partnerships and collaborations, and expand their distribution networks. Manufacturers with an intense research and development focus may have an advantage in creating new formulations and identifying new applications. Additionally, companies offering high-quality products at competitive prices and with efficient production processes can capture a huge market share.

New product launches:Several companies have recently launched new eggshell membrane powder products, including products for joint health, skin health, and digestive health. For example, in 2021, Biova LLC launched a new joint health product called BiovaFlex® Aqua, formulated for beverage use.
Partnerships and collaborations:Companies in the eggshell membrane powder market have been forming partnerships and collaborations to expand their reach and offer new products. For example, in 2020, Eggnovo SL and Rousselot, a global collagen company, announced a collaboration to develop new products for the nutraceutical and cosmetic markets.
Investments in research and development:Companies are investing in research and development to discover new eggshell membrane powder applications and improve production processes. For example, in 2021, Kewpie Corporation announced a joint research project with Osaka University to investigate the anti-inflammatory effects of eggshell membrane powder.
Expansion of manufacturing facilities:Companies are expanding their manufacturing facilities to increase production capacity and meet the growing demand for eggshell membrane powder. For example, in 2021, Microcore Research Laboratories announced an expansion of its manufacturing facility in California to increase the production of eggshell membrane powder.

Eggshell Membrane Powder Market by Category

By Nature:

Organic
Conventional

By Application:

Nutraceutical
- Dietary Supplements for Humans
- Dietary Supplements for Pets
Pharmaceutical
Cosmetics & Personal Care
Food & Beverages
- Bakery & Confectionery
- Snacks & Savory

By Region:

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

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About Future Market Insights (FMI)

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

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Compostable Toothbrush Market: Anticipated to Record a CAGR of 8.5% by 2032

During the forecast period, the compostable toothbrush market is expected to record a Compound Annual Growth Rate (CAGR) of 8.5%. This growth trajectory will elevate the market from US$ 30.43 billion in 2022 to a valuation of US$ 68.8 billion by 2032.

Based on an extensive examination of major industry participants, primary and secondary data, an extensive analysis of the overall growth prospects for the global and regional market was presented.

Biodegradable During the preservation time, a toothbrush composed of biodegradable material remains unchanged. However, when used in an untreated natural setting, it can break down harmless substances in pairs, with the exception of the nylon bristles.

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Increased Public Awareness: Growing awareness about the importance of reducing plastic pollution is driving the rise in sales of compostable toothbrushes.
Anti-Plastic Initiatives: Many countries have implemented strict regulations and initiatives aimed at reducing plastic usage, leading to a surge in demand for eco-friendly alternatives like compostable toothbrushes.
Rising Demand for Sustainable Products: The consumption of sustainable products is on the rise, prompting an increase in demand for compostable toothbrushes as consumers seek environmentally friendly alternatives.
Contribution to Market Share Growth: The growing consumption of sustainable products is expected to contribute to the expansion of the compostable toothbrush market share as more consumers opt for eco-friendly oral care options.

Compostable Toothbrush Market: Competition Landscape

Humble Co, Georganics, Mabboo, The Future is Bamboo, Urban Vegan, WooBamboo, Bambrush, WowE LifeStyle, All Clean Natural

Analysis:

As well as providing an overview of successful marketing strategies, market contributions, and recent developments of leading companies, the report also offers a dashboard overview of leading companies’ past and present performance. Several methodologies and analyses are used in the research report to provide in-depth and accurate information about the Compostable Toothbrush Market.

The current market dossier provides market growth potential, opportunities, drivers, industry-specific challenges and risks market share along with the growth rate of the global Compostable Toothbrush market. The report also covers monetary and exchange fluctuations, import-export trade, and global market

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status in a smooth-tongued pattern. The SWOT analysis, compiled by industry experts, Industry Concentration Ratio and the latest developments for the global Compostable Toothbrush market share are covered in a statistical way in the form of tables and figures including graphs and charts for easy understanding.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

Key Segments

By Product Type:

Fully Compostable Toothbrush
Handle Compostable Toothbrush

By Source:

Animal Based Compostable Toothbrush
Plant Based Compostable Toothbrush

By End User:

Men
Women
Kids

By Sales Channel:

Hypermarkets/Supermarkets
Specialty Stores
Multi-Brand Stores
Independent Small Stores
Online Retailers
Others

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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
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Capitalizing on the Egg-Free Mayonnaise Boom: Investing in a Growing Market Projected to Reach US$ 7,988.2 Million by 2033 with a 6.4% CAGR

The egg-free mayonnaise market size is projected to be valued at US$ 4,315.4 million in 2023 and is expected to rise to US$ 7,988.2 million by 2033. The sales of egg-free mayonnaise are expected to grow at a significant CAGR of 6.4% during the forecast period.

Millennials in particular are becoming more accepting of veganism, which has sparked industry growth. Due to increased public awareness of animal cruelty and the negative environmental effects of the dairy industry, consumers are increasingly selecting products that are made from plants.

Egg-free mayonnaise often contains less fat and is gluten-free than normal mayonnaise. One of the main factors driving the market expansion is the huge increase in the consumption of ready-to-eat (RTE) packaged vegan food and drinks as well as gluten-free and plant-based diets.

Cheese, mint, lime, BBQ, chipotle, and tandoori flavors are being introduced by product manufacturers. Given the growing popularity of veganism and vegetarian diets, they are also focusing on launching vegan, organic, and egg-free variants.

The expansion of organized distribution channels such as hypermarkets, supermarkets, convenience stores, grocery stores, and online shopping applications is providing industry players with lucrative growth opportunities.

In the upcoming years, it is anticipated that protracted promotional campaigns and celebrity endorsements by product manufacturers on social media platforms is likely to have a positive impact on egg-free mayonnaise sales.

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Key Takeaways from the Egg-Free Mayonnaise market

From 2023 to 2033, China is anticipated to experience the fastest CAGR of 7.1%. In the approaching years, it is anticipated that the rising demand for plant-based bakery and confectionary products in the region would drive the sale of goods.
Supermarkets and hypermarkets, among other distribution channels, are expected to grow significantly and capture a commanding market share of 46.3% due to their presentation, availability of a wide variety on the shelves, and ease of access to consumers. The discounts provided by supermarkets and hypermarkets are expected to boost sales of egg-free mayonnaise through this channel.
Due to a larger consumer base and more retail vegan outlets than any other region, the US is anticipated to contribute a significant revenue share of US$ 1,532.0 in the egg-free mayonnaise market. Several new regional companies are entering the market, each with their own unique flavor of egg-free vegan mayonnaise.
From 2022 to 2030, the HoReca end-use segment is anticipated to experience the fastest CAGR of 4.5%. As flexitarian and vegan diets are becoming more and more popular, many restaurants, fast food chains, and casual dining establishments have started adding plant-based items and drinks to their menus.

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Competitive Landscape

The global egg-free mayonnaise market is highly fragmented, with numerous vegan mayonnaise brands present. To increase product penetration, the companies invest heavily in product launches, distribution channels, and marketing strategies. They release products made from a variety of ingredients and for a variety of purposes, such as sandwich spread, nachos dipping, and so on. Furthermore, competitive strategies such as partnerships, mergers, acquisitions, joint ventures, and so on are prevalent in this market.

Latest Developments

Press’d Sandwich Shop in Canada announced the launch of two meat-free menu items using Gardein Chick’n in December 2020. The California Vegan and the Blazing Vegan are two of the inventive sandwich options, both of which include vegan mayo and vegan cheddar cheese.

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Key Segments Covered in the Egg-Free Mayonnaise Market Report

By Nature:

Organic
Conventional

By End User:

HoReCa
Food Processors
Household (Retail)

By Distribution Channel:

Direct
Indirect
- Hypermarket/ Supermarket
- Food and Drink Specialty Stores
- Convenience Store
- Discount Store
- Online Retail

By Price Range:

Economy
Premium

By Region:

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

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Future Market Insights Inc.
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T: +1-845-579-5705
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Investing in the Growing Products from Food Waste Market Amid Rising Demand for Eco-Friendly Solutions and Projected 5% CAGR Growth to US$ 85,905 Million by 2033

In 2023, the global products from the food waste market are estimated to be worth US$ 55,120 million. Food waste product sales are projected to expand at a 5% CAGR to US$ 85,905.0 million by 2033.

As the products from food waste industry continue to grow, one trend that has emerged is the increasing popularity of food waste disposers like Insinkerator and Carysil. These innovative devices allow homeowners to easily and safely dispose of food waste, reducing the amount of waste that goes to landfills and improving sustainability efforts. With the rising demand for products from food waste and the push towards eco-friendly solutions, the market for food waste disposers is expected to see significant growth in the coming years.

Key Growth Drivers in the Products from Food Waste Industry

The increasing focus on sustainability and waste reduction, with consumers and businesses alike looking for eco-friendly solutions to reduce their environmental impact.
Advancements in technology and innovative new products are expected to fuel growth in the products from food waste industry.
With the potential to create value from what was once considered waste, the market for products from food waste is poised for continued expansion.

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One of the emerging trends in the products from food waste industry is the use of technology to improve food waste management processes. Smart waste management systems are being developed that use sensors, data analytics, and artificial intelligence to optimize the food waste management process. In addition, the development of blockchain technology for food waste management is also gaining traction as it provides transparency and traceability in the food waste management process. These trends are expected to create new growth opportunities for the products from food waste industry in the coming years.

Key Takeaways from the Products from Food Waste Market:

In 2022, the United States is anticipated to have a notable share in products from food waste, accounting for 8% of the global market.
Germany is predicted to dominate the Europe market for products from food waste, with a CAGR of 4.3% during the forecast period.
The products from food waste industry in India are predicted to thrive at a significant CAGR of 15.3% during the forecast period.
With a CAGR of 7.4% over the forecast period, China is likely to be a prominent contributor to the growth of the products from food waste industry.
Citrus fruits are predicted to dominate the products from food waste industry by source in 2023, accounting for around 35% of the total share.
The food processing segment is predicted to dominate the products from food waste industry in 2023, accounting for around 40% of the market share.

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How Players are Capitalizing on Innovative Technologies in Products from Food Waste Industry?

The products from food waste industry are significantly growing and becoming increasingly competitive. With an increasing trend towards sustainability and reducing food waste, many companies are exploring ways to repurpose food waste into value-added products.

Leading players in the industry are Insinkerator, Emerson Electric Co., and Waste Management, Inc. are investing in new technologies and innovations to improve food waste processing and management. Insinkerator, for example, offers a range of food waste disposers and processors that can grind and process food waste into fine particles, while Waste Management provides a range of services to businesses and consumers to help manage and reduce food waste.

In addition to established players, many startups and small-scale companies are also entering the market, bringing them unique and innovative solutions. Carysil, for example, offers a range of food waste disposers that are compact and efficient, while TerraCycle provides a range of services to help businesses and individuals recycle their food waste.

The industry is also seeing a rise in collaborations and partnerships between companies to improve sustainability and efficiency in food waste management. For example, in 2021, PepsiCo partnered with Danimer Scientific to develop biodegradable food packaging made from plant-based materials.

Products from Food Waste Market Taxonomy

By Source:

Mangoes
Apples
Grapes
Citrus Fruits
Carrots
Beetroot
Berries
Others

By End User:

Food Processing
Beverage Processing
Cosmetics & Personal Care
Dietary Supplements & Nutraceuticals
Animal Feed
Others

Region:

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

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Investing in the Growing Avocado Oil Market with a 5.9% CAGR and Projected Value of US$ 975 Million by 2033 | FMI Projection

The avocado oil market was valued US$ 287.2 million in 2022, and it is expected to be worth US$ 975 million by 2033, increasing at a CAGR of 5.9% through 2033. The health-conscious populace, particularly those who are struggling with weight issues, becomes the dominant avocado oil customer base since avocado oil’s nutrient composition boasts of a greater content of healthy fatty acids. Marketers pitch avocado oil as an instant healthier substitute for olive oil and a substitute for other frying and salad dressing oils.

The growth rates of the global market and its potential for future expansion are compared and evaluated by FMI every six months. Certain demographic and innovative elements of the market are dominant as a result of the subjective effects of macro- and industry-level variables.

The prevalence of lifestyle diseases including cardiovascular problems is rising globally. Study into it has advanced because of the advantages to health that come with consuming avocado oil. Avocado oil has several uses, including in cosmetics, medicine, and personal care products.

It has become extremely important in the medical sector due to several advantages, including weight loss, improved digestion, improved heart health, and being a high source of vitamin E. These elements are expected to favorably fuel the development of the global avocado oil market.

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Key Takeaways from the Market Study

The global avocado oil market saw sales expand significantly between 2018 and 2022, with a CAGR of 4.1%.
The extra-virgin oil market is projected to represent 44.5% of the global avocado oil market in 2023.
The food and beverage industry gained a 51.5% market share of the avocado oil market worldwide in 2022.
The avocado oil market in North America accounted for more than 30% of the worldwide market in 2022.
The North American market share for avocado oil in the United States was 67.9% in 2022.

“The high-income growth rate in industrialized nations, along with the rapid pace of urbanization and the increase of the upper middle class, is the main driver behind the rising usage of avocado fruit oil in several sectors,” remarks an FMI analyst.

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Prominent players in the avocado oil market are:

Spectrum Organics Products, LLC
Bella Vado Inc.
The Village Press
La Tourangelle, Inc.
Proteco Gold Pty Ltd.
Sesajal S.A de C.V.
Grupo Industrial Batellero
Grove Avocado Oil
Cibaria International
Olivado USA

Leading manufacturers of avocado oil are zealously pursuing marketing methods such new product innovations, collaborations, technological breakthroughs, R&D activities, investments, and even acquisitions to enhance their worldwide exposure.

The French company Laboratoires Expanscience introduced a new organic, emollient, and nutritious avocado fruit oil in 2021. It was made by cold pressing entire, previously dried avocados.
New York-based company Glow Recipe announced the release of Avocado Ceramide Recovery Serum in 2021. This lotion can improve the skin’s moisture barrier as well as improve the complexion. Ceramides along with avocado fruit oil are the two components worth mentioning since they both provide comfort and TLC. Both Sephora.com and the brand’s website offer the product for sale.

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Key Segments Profiled in the Avocado Oil Market

By Type:

Extra Virgin Oil
Virgin Oil
Pure/Refined Oil
Blend

By Application:

Food and Beverages
Pharmaceuticals and Medicinal Formulations
Personal Care and Cosmetics
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia,
Middle East and Africa

Author by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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Reusable Packing Market is Expected to Reach at a US$ 186.34 Billion by 2033 | FMI

The reusable packing market is forecast to experience a growth of 5.5% over the estimated time, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 109.09 billion in 2023. By 2033, the market is projected to touch US$ 186.34 billion.

Reusable packaging has always been around from time immemorial. Historically, people used reusable bottles and containers as the standard packaging format. Wine, milk, and other beverages were all used to be contained in large refill systems.

However, since the introduction of single-use packaging solutions as a more cost-effective option and a key differentiator for brands, reusable packaging has been replaced, barring certain economies and specific segments.

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Currently, consumers are exhibiting a renewed interest in reusable solutions due to growing sustainability concerns and a governmental ban on single-use packaging. Moreover, many countries have also implemented single-use bans, quotas, and taxes to encourage the adoption of reusable packaging. For instance, restaurants, cafes, and bistros in Germany that offer drinks and food ‘to go’ are also compelled to provide their products in reusable material from 2023.

Another instance includes the introduction of disposable cups for fast-food outlets and coffee shops in 2022. All these developments display increasing receptivity of consumers toward reusable packing solutions.

Due to a surging revival of interest in reusable packing, new start-ups, and pilot solutions are also being introduced, especially in food and food-service application areas. Reusable packing solutions can also appear in the personal care and beauty sector (with refill pouches).

However, these new solutions are not yet widely adopted and are associated with premium products. To make an impact in the market, these start-ups are expected to detect key enablers for the growth and size their potential customers to penetrate the reusable packing industry deeply.

Several factors pose a barrier to manufacturers. These include lack of infrastructure, acceptance, product safety and cost, and regulatory push for packaging solutions.

Still, plenty of accelerators are expected to boost reusability to scale considerably, surpassing present penetration, becoming a disruptor in packaging, and inculcating brand loyalty. These factors include regulations promoting reuse, dedicated consumer demand for circular solutions, and adaptation of stores and products to reusable packaging.

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Top Highlights from the FMI’s Analysis of the Reusable Packing Market:

Asian countries like India and China are expected to observe significant CAGR as the countries move away from single-use plastics.
Canada is surfacing as a key market in North America, which is expected to observe considerable growth prospects for manufacturers offering reusable packing solutions.
Within Latin America, Mexico is projected to offer substantial business opportunities for reusable packing as these solutions promise cost-efficiency and less waste, thus appealing to the large masses.
Australia is gaining interest from vendors as a profitable business location for reusable packing solutions. Consequently, many distributors are expected to set their foot in the market over the next decade.

News Section: FMI Uncovers Recent Developments

Nefab Group AB Group launched FiberFlute, a sustainable substitute for foam, in August 2021. This fiber-based packaging solution offers excellent cushioning performance for various products. The partnership between Corruven Canada Inc. and Nefab Group AB brought FiberFlute to life. The product is distinct from plastic-based packaging solutions as it is a 100% paper-recyclable and fiber-based solution. It can also endure extra shock with less material than polyethylene foam, resist several drops, and function well in dry and humid conditions.
Nefab Group AB extended its reach in North America in May 2021. The company has introduced new production sites in Tucson (Arizona), Houston (Texas), and Gainesville (Florida) in the United States.
Schütz GmbH & Co. KGaA. launched a new Ecobulk MX 560 to its exhaustive product range in March 2021. This development came into place to meet customer expectations and supply chain requirements. This new Intermediate Bulk Container (IBC) has less height than the general models and a minimal volume capacity of 150 gallons and 560 liters. These specifications make it suitable for applications where smaller containers are an added benefit but where high quality and optimum performance are also crucial.

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Investing in the Hydroponics Market with a Projected CAGR of 7% and Anticipated Value of US$ 5.70 Billion by 2033 | FMI Projection

The global hydroponics market size is anticipated to grow at a CAGR of 7% over the projected period, according to a Future Market Insights analysis. The hydroponics sector is anticipated to be worth US$ 2.78 billion in 2023. By 2033, FMI anticipated that the hydroponics market could increase to US$ 5.70 billion.

The robust growth in the hydroponics market from 2018 to 2022 is driven by the industry’s ability to address emerging challenges in traditional agriculture. The market’s impressive CAGR of 11.5% signifies a rapid adoption of hydroponic techniques, attracting farmers and investors alike.

The hydroponic vegetable market is witnessing a surge in demand, driven by health-conscious consumers, and is expected to contribute significantly to the overall market growth. This period witnessed heightened awareness among growers regarding resource-efficient farming, with hydroponics providing an effective solution. The market’s expansion from US$ 7,227.3 million to US$ 11,466 million underscores the increasing recognition of hydroponics as a viable and lucrative agricultural method.

The long-term projection of the hydroponics market to reach US$ 45,623 million by 2033 emphasizes the industry’s transformative potential. This substantial growth is underpinned by a paradigm shift in global agriculture, with hydroponics emerging as a cornerstone of future farming.

Factors contributing to this sustained growth include heightened environmental concerns, the need for food security, and advancements in hydroponic technology. As the market evolves, it is poised to play a pivotal role in ensuring efficient and sustainable food production on a global scale.

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The world’s population is growing quickly, raising the need for food by nearly 200,000 people per day. As crops are lost due to insect infestations, natural calamities like droughts and floods, and pest infestations, the amount of arable land is also reducing globally, and production costs are rising. As a result, commercial hydroponics systems are receiving significant financial investment around the globe.

Being a form of space-efficient food production that even those without access to land in urban areas and rural areas may adopt, hydroponics offers a workable approach to achieving food security. Owing to rising concerns about environmental deterioration brought on by greenhouse effects, hydroponic farming has become more significant. Also, there has been a progressive rise in the need for hydroponic farming to fulfill the mushrooming demand for fruits and vegetables as agricultural infrastructures have evolved and improved.

Since it involves less water, labor, and land, producing food without the use of pesticides or other crop protection agents is very profitable. The growing demand for fruits and vegetables grown without pesticides is another factor boosting the market for hydroponic systems. It is becoming more and more typical for plants to move mechanically. There are likely to be more inventive chances for the sector to flourish as concerns about food supply and security grow.

Hydroponic farming has been progressively growing to increase vegetable output and fulfill the demand that is mushrooming as a result of the growth and development of agricultural infrastructures. Hydroponic farming has become more crucial due to growing worries about environmental deterioration brought on by greenhouse effects.

KEY TAKEAWAYS

The market in the United States has grown significantly in 2022 holding a 19.3% share of the global market.
The market in China is expected to grow at a CAGR of 8% over the forecast period.
The market in the United Kingdom is anticipated to grow at a CAGR of 7.5% through 2033.
With a CAGR of 13.4% over the forecast period, India is predicted to grow rapidly in the market.
Germany accounted for 9.9% of the global market in 2022.

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COMPETITIVE LANDSCAPE

The top manufacturers of the hydroponics market are Emerald Harvest, Argus Control Systems Limited, Hydroponic Systems International, Emirates Hydroponics Farms, Advanced Nutrients (Canada), Freight Farms, Inc., Green Sense Farms Holdings, Inc., Signify Holding B.V., Terra Tech Corp, and others.

These companies have used a variety of strategies to get a solid advantage over their rivals. They have grown their number of new clients and prosperity by putting both organic and inorganic operational strategies into practice, such as the introduction of innovative goods, acquisitions, mergers, corporate modernization, and collaborations.

RECENT DEVELOPMENTS

In October 2022, GrowGeneration Corp. (GRWG) established its first hydroponic store in Virginia, a 9,000-square-foot location in Richmond. To take advantage of the growing hydroponics market, GRWG intends to increase the number of its stores in the region.
In July 2022, with a $40 million investment, Bustanica unveiled the leading hydroponic farm in the world. Emirates Crop One, a partnership between Crop One, and Emirates Flight Catering (EKFC), opened its first vertical farm at the site.

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Hydroponics Market Segmentation

By Product Type:

Aggregate Systems
Liquid Systems

By Equipment:

HVAC
Irrigation Systems
Control Systems
LED grow Lights
Material Handing
Others

By Input:

Nutrients
Rockwool

By Crop Type:

Tomato
Lettuce and Leafy Vegetables
Pepper
Cucumber
Microgreens
Herbs
Fruits
Others

By Region:

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

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

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Unlocking Growth: Capitalize on the Booming Phosphate Fertilizer Market CAGR of 4.9% through 2033

The global phosphate fertilizer market is on an upward trajectory, set to achieve a valuation of US$ 55,599.5 million by 2023, with a promising projection of reaching US$ 92,110.8 million by 2033, driven by a steady compound annual growth rate (CAGR) of 4.9% during the forecast period.

The market growth is driven by increased demand from agricultural producers for fertilizers that provide essential nutrients like nitrogen and potassium. Major application areas include fruits, vegetables, cereals, and pulses. Phosphorus fertilizers contribute to root growth, crop quality, and stalk strength. Phosphorus rocks are the primary global sources of phosphorus, with the United States being a leading producer and consumer. The market is significantly influenced by the rising global demand for food.

The surging global demand for phosphate fertilizers is driven by the increasing world population and the subsequent rise in food demand. The costs of raw materials are increasing due to investments in new mine capacity expansions, and this trend is expected to persist in the coming years. The increasing prices of mining activities worldwide are affecting raw material costs. Emerging economies, including Brazil and India, are recognizing the significance of using phosphate fertilizers in agricultural production. Government support in these agrarian economies has encouraged farmers and local entrepreneurs to boost the consumption of fertilizer-grade phosphate, leading to greater demand.

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The increasing demand for phosphorus fertilizers is driven by the reduction in arable land per person in nations like India, China, the United States, and others. As population growth requires higher agricultural yields, farmers rely on crop protection, including phosphorus fertilizers, to meet food demand. With limited prospects for agricultural land expansion due to rapid industrialization and urbanization, the demand for phosphorus fertilizers may rise further, fueled by increasing meat and food product demands. The Asia-Pacific and Latin American regions present significant opportunities for the phosphate fertilizer industry to expand in the coming years.

The rising global population is increasing the demand for efficient agricultural products and machinery to feed more people with limited arable land. This drives the need for high-quality fertilizers, including phosphatic compound fertilizers (DAP/MAP or NPK). Anticipated advancements in agricultural and irrigation technologies, such as sprinkler or drip irrigation, are expected to boost the market growth of phosphatic fertilizers in the years to come.

To maintain soil health and increase crop yield, supplementing phosphorus fertilizers becomes vital due to its depletion with each harvest. Restoring essential nutrients like nitrogen and phosphate, along with potassium and magnesium, is crucial for optimal growth. Commercially soluble phosphorus in fertilizers enhances plant absorption. Effective phosphorus fertilizer management is essential for cultivating healthy plants, achieving high yields, and running a successful farming operation.

Key Takeaways

The demand for phosphate fertilizer in Europe is projected to rise with a promising CAGR of 5.8% during the forecast period.
The market in Asia Pacific is expected to thrive with a CAGR of 5.4% during the forecast period.
By application, the demand for phosphate fertilizers in cereals & grains is anticipated to rise with a CAGR of 6% during the forecast period.

“Increasing food demand, rising population, and reduction of arable land per person are expected to drive market growth during the forecast period,” comments an FMI analyst.

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Competitive Landscape

The phosphate fertilizer market is highly competitive, with key industry players making substantial investments to enhance their manufacturing capabilities.

Some recent developments in the phosphate fertilizer market are:

In May 2022, Coromandel International, intended to acquire a 45% stake in Baobab Mining and Chemicals Corporation (BMCC), a Senegal-based rock phosphate mining firm, for USD 19.6 million (around $150 crore).
In February 2022, EuroChem Group, a prominent global fertilizer producer, successfully completed the acquisition of the Serra do Salitre phosphate project in Brazil.
In May 2022, Indian Potash Ltd entered into a five-year agreement with Israel Chemical Ltd to annually import 0.6-0.65 million tonnes of potash muriate.

Top Key Players

Eurochem Group AG
Israel Chemicals Ltd.
Coromandel International Ltd.
Nutrien Ltd.
PJSC PhosAgro.
Yara International ASA
The OCP Group
JESA
MIRA Organics and Chemicals PVT LTD
Ma’aden
California Organic Fertilizers Inc

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Key Segmentation

By Product Type:

Monoammonium Phosphate (MAP)
Diammonium Phosphate (DAP)
Single Superphosphate (SSP)
Triple Superphosphate (TSP)
Others

By Application:

Cereals and Grains
Oilseeds
Pulses and legumes
Fruits and Vegetables
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
Central Asia
Russia and Belarus
Balkan and Baltic
South Asia Pacific
East Asia
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 ~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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Nandini Singh Sawlani

Pea Milk Market Anticipates 10.4% CAGR over the Forecast Period 2022 to 2032

The Pea Milk Market is experiencing significant growth due to the rising demand for plant-based milk alternatives. Made from yellow peas, pea milk offers a rich source of protein, essential nutrients, and is free from common allergens like soy and nuts. Its sustainability, low environmental impact, and lactose-free nature appeal to environmentally conscious consumers and those with dietary restrictions.

According to a recent report by Future Market Insights, a market research and competitive intelligence provider, sales of pea milk are estimated to reach a value of USD 238.5 Mn by 2032, surging at 10.4% CAGR through the decade.

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Pea milk is made from dry peas and comes in a variety of flavors including original, unsweetened, vanilla, and chocolate. The product’s cream-like texture and healthy content than other plant-based milk are the primary reasons for consumer preference, which contributes to the growth of the pea milk market in the coming years.

The increase in the number of vegan and diet-conscious consumers around the world is driving the growth of the pea milk industry. Furthermore, the increased concern about lactose intolerance as a result of a lack of the intestinal enzyme lactase fuels the demand for dairy-free or vegan food products. Plant-based milk products are becoming more popular in both mature and emerging markets.

This is due to an increase in the number of people who are allergic to dairy products. Furthermore, an increase in health awareness and an increase in disposable income have increased the size of the pea milk market. Furthermore, the introduction of new healthy ingredients by various market players contributes significantly to the growth of the pea milk market.

Key Takeaways from the Market Study

The United Kingdom is one of Europe’s most promising markets for pea milk. An increasing proportion of the British population will switch to a vegan, vegetarian, or pescatarian diet by 2022.
The market for pea milk in the United States is expected to grow rapidly, expanding at a CAGR of nearly 8.2% between 2022 and 2032. The US market is expected to have a market share of 60%.
With the outbreak of the COVID-19 pandemic, consumers are re-evaluating and changing their drinking and eating habits. The market is expected to grow at a rate of 9.1% from 2022-2023.
PET bottles, which are primarily used in the packaging of drinking water and beverages, are becoming increasingly popular in the pea milk industry.
Tetra packs of pea milk are expected to account for 40% of global market demand over the next decade. Sales are being boosted by the high convenience attributed to its lightweight and durability.

“Pea milk is quickly gaining popularity as a dairy substitute. Pea milk is also a good option for people who are allergic to other plant-based products like Pea, whey, almonds, or nuts,” says a lead analyst at Future Market Insights.

Who is Winning?

Key pea milk manufacturers are emphasizing the penetration of mainstream retail markets by introducing a diverse range of product offerings. In addition, they are focusing on forming alliances with leading players as well as acquisitions.

Wunda, a new pea-based beverage from Nestlé, is “epic in everything” that milk is used for.

The key players profiled in the report include Sproud, Ripple Foods, Snappea Foods, Devon Garden Foods, Qwrkee, Freedom Foods, Vly Foods, Nestle SA, The Mighty Society, and DrinkStar.

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the pea milk presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the pea milk based on Flavor (Original, Unsweetened, Vanilla, and Chocolate), By Packaging Type (Bottles and Aseptic Cartons), By Distribution Channel (Retail Stores, Supermarkets/Hypermarkets, E-commerce, and Others), and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Europe ADAS Testing Equipment Market to Grow at a CAGR of 10.2% by 2033, Fueled by Financial and R&D Support for Autonomous Car Start-Ups

The Global Advanced Driver Assistance System (ADAS) Testing Equipment Market is projected to attain a valuation of US$ 56.4 billion in 2023 and is expected to accumulate over US$ 202.7 billion by 2033, trailing a CAGR of 13.6% from 2023 to 2033.

FMI expects the European market to grow at a noteworthy 10.2% CAGR throughout the projection period.

As part of the project, UK autonomous car start-ups have received financial and R&D support. These tools enable new and established players to compete with some of the world’s best autonomous car businesses. These considerations point to the United Kingdom becoming as a leader in Europe’s ADAS testing equipment industry.

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Key Takeaways:

The United States advanced driver assistance system (ADAS) testing equipment industry is projected to expand with a CAGR of 12.8% during the forecast period.
The demand for advanced driver assistance system (ADAS) testing equipment in China is anticipated to increase at a promising CAGR of 13.3% from 2023 to 2033.
By product type, the hardware segment is projected to secure a CAGR of 14.4% in the forthcoming years.
The United Kingdom is expected to secure an impressive CAGR of 10.2% throughout the forecast period.

Advancements in the automotive sector and the introduction of highly efficient and safe features in vehicles are expected to drive market growth during the forecast period, anticipates FMI Analyst.

Competitive Landscape:

The market for advanced driver assistance system (ADAS) testing equipment is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.

Key Companies Profiled:

Konrad GmbH
AB Dynamics plc
National Instruments Corporation
TKH Group NV
Oxford Technical Solutions Ltd.
Racelogic Ltd.

Recent Developments in this Market:

Robert Bosch collaborated with Hycan Automobile Technology in 2021 to develop automated valet parking technology. This technology is expected to be integrated into the Hycan Z03 vehicle.
In March 2021, AB Dynamics, a provider of testing systems and measurement products, completed its acquisition of Vadotech Group, which includes Vadotech and Zynit. This acquisition enables AB Dynamics to achieve strategic goals, including expanding its presence in China market and strengthening its position as a global technical service provider in the automotive industry.
Continental AG and Beijing Horizon Robotics Technology R&D Co., Ltd. announced a Joint Venture (JV) contract in September 2021. The JV aims to offer integrated solutions for advanced driver assistance systems and autonomous driving, encompassing both software and hardware components.

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Key Segments Profiled for this Market:

By Product:

Hardware
Software

By End-User Type:

Automotive OEMs
Tier-1 Suppliers
Labs and Other Institutes

By Region:

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

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.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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