Market Research Blog – Page 3252 – New Product Development

Frozen Vegetable Market Poised for Robust Growth: Projections to Hit US$ 96,451.80 million by 2034 Riding the Wave of Convenience and Health Trends

The global frozen vegetables market is predicted to surge at a CAGR of 6.0% through 2034. Sales revenue of frozen vegetables is estimated to be worth US$ 53,830.60 million in 2024.

The younger populations in the market favor the frozen vegetable segment as a healthier snack option over fresh, canned, and cooked meals. The frozen veggies market size is envisioned to attain a valuation of US$ 96,451.80 million by 2034.

Convenience products are in the spotlight because of the rapid rate of urbanization and increased disposable income. Shifting technological developments, attractive packaging, storage convenience, and accessibility foster the demand for frozen vegetables upward.

Frozen veggies have a longer shelf-life, as compared to fresh vegetables and are thus easier to transport in various parts of the globe. These are stored at a temperature that is lower than the freezing point.

Moreover, increasing purchasing power, rising spending capacity of consumers, and wider availability and affordability of frozen vegetables are expected to fuel growth in the market in the next ten years.

Additionally, rapidly changing lifestyles & diet schedules and adoption of healthier eating habits are set to drive the market. Surging number of large retail chains worldwide is another vital factor that is projected to accelerate growth in the market.

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Key Takeaways: Frozen Vegetables Market

Europe is expected to dominate the global market by accounting for the maximum share of about 30% in 2024, followed by North America.
The U.S. is set to generate the largest frozen vegetables market share of nearly 82% in the evaluation period.
By product type, frozen corn is expected to account for the lion’s share in the global frozen vegetables market by 2024.
Based on distribution channel, online retailers are expected to grow at a steady pace, as compared to all the other segments over the assessment period.
Rising number of convenience food sales outlets across the U.K. is anticipated to propel the Europe frozen vegetables market in the forthcoming years.

“Demand for frozen vegetables is increasing globally because of surging consumption by the health-conscious millennial population,” says a Future Market Insights analyst.

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Competitive Landscape: Frozen Vegetables Market

Several key players are adopting numerous marketing and promotional strategies such as partnerships, collaborations, mergers & acquisitions, new product launches, and geographical expansions to compete with their rivals in the market.

Frozen Vegetables Market Outlook by Category

By Product Type:

Broccoli
Green Peas
Asparagus
Mushrooms
Spinach
Corn
Green Beans
Others

By End Use:

Food Service Industry
Retail Customers

By Distribution Channel:

Direct
Indirect
- Hypermarkets/Supermarkets
- Convenience Stores
- Grocery Stores
- Online Retailers
- Other Channels

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
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Website: https://www.futuremarketinsights.com
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Insect-Based Pet Food Market Set to Grow: Projected Expansion at a 10% CAGR by 2033 Surging Demand for Frozen and Freeze-Dried Pet Foods

The insect-based pet food market is forecasted to garner revenue of US$ 3,448.5 million in 2033, up from US$ 1,341.0 million in 2023, advancing at a rate of 10% from 2023 to 2033.

The pet food industry is undergoing a significant transformation as more pet owners seek innovative and sustainable alternatives to traditional pet food products.

One emerging trend that has gained traction in recent years is insect-based pet food. With its numerous benefits for pets and the environment, insect-based pet food is making waves in the market.

Pet owners increasingly embrace insect-based pet food as they become more educated about its benefits. The shifting consumer mindset towards sustainable and ethically sourced pet food has created a favorable environment for the growth of this market segment.

One of the primary challenges in the insect-based pet food market lies in navigating regulatory frameworks. As a relatively new industry, there is a need for clear guidelines and regulations regarding the sourcing, processing, and labeling of insect-based pet food products.

Establishing standardized protocols and ensuring compliance with existing regulations are crucial to build consumer trust and ensuring the quality and safety of these products.

Although the acceptance of insect-based pet food is growing, there is still a need to educate and create awareness among pet owners.

Overcoming the initial hesitation and addressing misconceptions surrounding insect-based ingredients require effective marketing strategies and transparent communication about the benefits and safety of these products.

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Insects are highly efficient in converting feed into protein, requiring less land, water, and resources than traditional livestock farming. By utilizing insects as a protein source, the pet food industry can contribute to reducing the ecological footprint while meeting the nutritional requirements of pets.

The market offers an opportunity for continuous product innovation and diversification. Manufacturers can explore different insect species, such as black soldier fly larvae or mealworms, to create unique and nutritious pet food formulations.

Key Takeaways:

The insect-based pet food market value reached US$ 1,289.0 million in 2022, with a CAGR of 6.9% from 2018 to 2022.
The market in the United States of America accounted for a 35% share in 2022 globally.
The United Kingdom insect-based pet food industry is projected to advance at an 8% CAGR from 2023 to 2033.
The market for insect-based pet food in Japan accounted for 0.7% of the market share in 2022.
India market for insect-based pet food is predicted to progress steadily with a CAGR of 9% during the projected period.

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What is the Competition Landscape in the Insect-based Pet Food Market?

The competition landscape in the market is becoming dynamic as more players recognize the potential of this emerging industry. While the market is still relatively nascent, several companies have already established their presence and are vying for a competitive edge.

The presence and activities of various market players, including established companies and new entrants, influence the competitive landscape. These players compete for market share, brand recognition, and consumer loyalty through product innovation, pricing strategies, and marketing efforts.

Different companies’ range and diversity of insect-based pet food products play a crucial role in the competitive landscape. Companies differentiate themselves by providing unique formulations, flavors, and product variations that cater to specific pet dietary needs or preferences.

The competition is also influenced by changing consumer preferences, evolving dietary trends, and market dynamics. Companies that stay abreast of consumer demands, such as organic or grain-free options, and align their product offerings accordingly can gain a competitive advantage.

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Market by Category

By Nature:

Organic
Monoprotein
Conventional

By Source:

Crickets
Mealworms
Black Soldier Flies

By Product Type:

Kibble/Dry
- Extruded
- Baked
- Coated
Dehydrated Food
Treats and Chews
Freeze-dried Raw
Wet Food
Frozen
Raw Food
Powder
Freeze-dried Food

By Pet Type:

Cat
- Kitten
- Senior
Dog
- Puppy
- Adult
- Senior
Birds
Others

By Distribution Channel:

Store-based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Mom and Pop Stores
- Pet Stores
- Discounters
- Independent Grocery Retailers
- Drugstores
- Other Retail Formats
Online Retailers

By Region:

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

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Growing Macadamia Market: Opportunities for Investors in Healthy Snack Alternatives and Culinary Applications

By the end of the year 2022, the worldwide demand for macadamia was estimated to be worth around US$ 2.2 billion. Further, the net revenue from total macadamia nuts sales globally in 2023 is anticipated to be about US$ 2.37 billion. The entire market value is predicted to rise at an 11.2% annual growth rate between 2023 and 2033. Finally, the global macadamia market value is expected to reach US$ 5.08 billion by the end of 2033.

The global consumer trend towards healthier snack options has led to a notable surge in the demand for macadamia nuts. Its nutritional qualities, which stem from its high concentration of monounsaturated fats and other essential elements, have also contributed to its growing appeal in non-native areas. Macadamia powder has a wide range of applications in cooking, from confections to baked goods, and as a result, it has a diverse and large consumer base.

The efficiency of macadamia production has increased recently, and investments in precision farming methods and state-of-the-art processing equipment have guaranteed a steady supply of macadamia nuts of the highest caliber. Notably, increased supply of quality macadamia nuts has made favorable pricing possible, which has helped the market’s revenue rise strongly.

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Key Takeaways from the Macadamia Market Report

The total consumption of macadamia in the United States is higher in comparison to other countries. The country is estimated to account for almost 24.4% of the global revenue share.
In Europe, Germany is the leading regional market for the processing and consumption of macadamia products. In the current year 2023, this regional market is estimated to contribute to almost 7.4% of the global revenue share.
Though Australia is known to be the native place for macadamia nuts, it has only a 3.2% market share in processed macadamia business worldwide.
In Asia, China is known as the hub for macadamia processing and export. As of 2023, it holds around 13.2% of the global demand for macadamia.
Japan is also a significantly growing market for sales of macadamia in Asia these years. It is expected to hold a global market share of 5.4% in the current year 2023.

Competitive Landscape for the Macadamia Market

Industries and participants in the global macadamia business are positioning themselves strategically to benefit from the growing popularity of macadamia outside Australia’s mainland. Added to that, a greater emphasis on marketing and distribution through online sales channels has allowed market participants to reach a broader audience.

“After the emergence of new participants, the global market is seeing an increase in product variety, such as flavored macadamias and value-added goods. So, marketing of novel products with attractive packaging has surged the consumption of macadamia in recent years.” – says Nandini Roy Choudhury, Client Partner at Future Market Insights

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Recent developments by the Macadamia Processing Industries

A South African cooperative firm named Golden Macadamias developed a TOMRA 5C sorting system with Biometric Signature Identification technology in April 2022. This is a high-end optical sorting system or machine for nuts and dried fruits to achieve the finest product quality with a huge macadamia production volume.

Milkadamia Inc. debuted a new macadamia nut oil milk product line at Natural Products Expo West in March 2022. Macadamia milk under this category comes in salted caramel and pumpkin pie flavors aimed at attracting more consumers in the younger age group.

The World Macadamia Organization, located in China, launched its first consumer marketing campaign in January 2022. It was initiated to promote the importance of macadamias by presenting the ritual of cracking nut-in-shell macadamias during specific Chinese Festivals.

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The Market has been Segmented as

By Nature:

Organic
Conventional

By Form:

Raw
Processed
Oil

By End Use:

Residential
Commercial
Industrial
Food Industry
- Confectionery
- Bakery
- Dairy
- Snacks
- Others
Cosmetic and Personal Care

By Distribution Channel:

Direct
Indirect

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Hydroponics Market Growth: Capitalizing on Urban Agriculture Trends and Technological Advancements for Investor Success

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.

One of the most intensive crop-production techniques used in agriculture is hydroponics. This method can be used to grow plants in a soilless environment with the presence of nutrient solutions. Hydroponics is one of the most popular techniques for producing crops without the use of artificial ripening agents or pesticides. Hydroponic crops are expected to witness a strong increase in popularity during the projection period due to their ability to decrease soil-borne diseases, produce considerable crop yields faster, and better regulate nutrient availability in the system.

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The requirement for food is increasing daily by around 200,000 individuals due to the world’s rapid population growth. Globally, the amount of arable land is decreasing and production costs are rising as a result of agricultural losses brought on by pest infestations, natural disasters including droughts and floods, and bug infestations. As a result, there is a large global financial interest in commercial hydroponics systems.

Hydroponics is a feasible way to achieve food security because it is a space-efficient method of food production that even those without access to land in rural and urban regions may use. Hydroponic farming has grown in importance due to growing worries about the effects of greenhouse gases on the environment. Additionally, as agricultural infrastructures have developed and improved, there has been a steady increase in the requirement for hydroponic farming to meet the growing demand for fruits and vegetables.

Producing food without the use of pesticides or other crop protection agents is very profitable because it requires less water, labor, and land. Another thing driving the market for hydroponic systems is the increasing desire for fruits and vegetables cultivated without the use of pesticides. Mechanical movement is becoming more and more common in plants. As worries about the security and availability of food increase, there will probably be more creative opportunities for the industry to prosper.

In order to meet the increased demand for vegetables resulting from the expansion and improvement of agricultural infrastructure, hydroponic farming has been steadily expanding. Concerns about the damaging impacts of greenhouse gases on the environment have increased, making hydroponic farming even more important.

It is projected that advances in agricultural innovation and cutting-edge technology will lead to changes in hydroponic farming. The industry is growing because hydroponic gardening uses 95% less water than conventional cultivation. This technique makes it possible to grow crops in cities without the need for soil in a number of vertical and horizontal levels.

Businesses and specialists are attempting to increase the hydroponics system’s effectiveness in order to increase both the number and quality of the output, in keeping with the growing popularity of hydroponics worldwide. Many businesses spend a lot of money on R&D to acquire innovative technology that increase productivity and inspire different crops. Robust collaborations with universities and research centers facilitate the expansion of the hydroponics industry.

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Given the widespread adoption of hydroponics in nations like China, Australia, South Korea, and others, Asia Pacific had the lion’s share of the hydroponics market in 2022. With the proliferation of urban hydroponic farms, FMI anticipated that the market in China and India could grow considerably over the forecast period.

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.

Competitive Landscape:

The top manufacturers of the Hydroponics Industry 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 Industry, 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 Industry 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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Humectants Market Set to Surge: Reaching US$ 24 Billion in Packaging & Cosmetics by 2033

The global humectants market size is expected to reach US$ 14.72 Billion and is projected to grow at a CAGR of 5% over the forecast period. Since the demand for natural humectants has increased over the past few years, food manufacturers are able to produce a wider range of food products with fewer natural humectants.

By 2033, the packaging food market and cosmetics market will generate US$ 24 billion in sales of the humectants market. Recently, humectants have gained popularity in the food and beverage industry because they prolong the shelf life of products, help to retain moisture, and enhance the effectiveness of products by increasing their function. Due to the increase in food and beverage production, cosmetics and technological advancements, and a change in lifestyle, the global humectants market remains in high demand.

It is anticipated that the market for humectants will continue to grow in coming years as the demand for food & beverage, personal care, and cosmetic products is expected to increase in developed countries such as Europe and North America. As food humectants are helpful to keep the moisture of products, they are a major focus of interest in ready-to-eat meals and snacks. As disposable incomes rise along with a change in lifestyle, Asia Pacific is predicted to be the fastest growing market for cosmetics, which will ultimately drive growth in the humectants industry.

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Key Takeaways from the Market Study

According to market forecasts, the global humectants market is set to reach US$ 24 Billion by 2032.
According to projections, China will grow at a CAGR of 5.8% between 2023 and 2033.
Skincare products are expected to account for more than 40% of the global market.
U.K., Germany, and the U.S. are expected to grow at a combined rate of 42.6% over the forecast period.
According to market projections, the North American humectants market is expected to grow by 33% by 2033 during the forecast period.

“Surging demand for conventional food and beverage products, as well as an increase in the use of natural ingredients in cosmetics and personal care products, will boost the market in the coming years,” comments an analyst at FMI.

Competitive Landscape

Archer Daniel Midland Company, Ashland Global Holdings Inc., BASF SE, Barentz, Brenntag AG, Cargill Incorporated, Ingredion, Roquette Freres, The DOW Chemical Company.

Strategic partnerships allow manufacturers to increase production and meet consumer demand, which boosts revenue and market share. Utilizing new technologies and products to manufacture that are beneficial to the end user. Strategic partnerships can help companies expand their production capabilities.

A new humectant will be produced at a Vantage Specialty Chemicals plant in Leuna, Germany. Liponic EG-1 (INCI: Glycereth-26) is a humectant manufactured by Vantage Specialty Chemicals. As the demand for palm-free, naturally derived humectants grows, Vantage will be able to supply the growing demand. By enhancing local availability and enhancing service levels, Vantage will be able to provide better service to European customers with the new production line at the Leuna facility.
As a result of the extension, Liponic EG-1 will also be able to secure a secure supply chain worldwide. As a result of enhanced traceability, Liponic EG-1 VLG will be marketed at Leuna. Also, this investment is intended to contribute to the reduction of the company’s carbon footprint globally. Liponic EG-1 will reduce its environmental impact due to its close proximity to European customers.
In Malaysia, CETAPHIL® is the #1 dermatological skincare brand, and the company is excited to announce the new Cetaphil Soothing Foam Wash, designed for dry to normal sensitive skin and designed to provide optimal comfort.

More Valuable Insights

FMI, in its new offering, presents an unbiased analysis of the humectants market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.

The study divulges essential insights on the humectants market analysis report by Product (Sugar Alcohol, Alpha Hydroxy Acid, Glycols, Others), by Application (Food & Beverage, Oral & Personal Care, Pharmaceutical, Other), by Region – Global Forecast 2023-2033

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:

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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
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Freeze Dried Fruits Market Expected to Grow 7.5% by 2033 Amidst Rising Demand for Healthy and Natural Food Products

According to Future Market Insights, the global freeze dried fruits market is expected to record a CAGR of 7.5% from 2023 to 2033 and reach a valuation of US$ 8.63 billion in 2023. In 2033, it is likely to reach a valuation of US$ 17.82 billion.

Food products have remained a necessary good ever since the pandemic began. FMI predicts that during the projected period, the total food and beverage market would grow at a rate higher than 3% CAGR. With customer preferences shifting, there is an increasing need for affordable, sustainable, and healthful food options. This will likely drive sales of freeze-dried fruits and vegetables in the near future.

A growing number of confections, smoothies, juices, ice creams, bakeries, and other ready-to-eat food products use various kinds of freeze-dried products, including freeze-dried blackberries, freeze-dried raspberries, freeze-dried pineapple, freeze-dried strawberries, and freeze-dried cranberries.

The extended shelf life of freeze-dried fruits, which is achieved without the use of artificial chemicals or preservatives, is a major driver of the market. Due to their lengthy shelf lives and wide range of uses in nutritious diets, dehydrated food forms like freeze-dried fruits are becoming more and more popular. This is fueled by the growing popularity of confectionaries.

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Key Takeaways from the Market Report

Increasing awareness about numerous health benefits of nutritional, natural, and low carb diet, is boosting the demand for freeze-dried fruits and vegetables.
Conventional freeze-dried fruits are presently leading in the market in terms of nature as they are more enriched with natural flavor, color, and nutrient values.
Among products available in the market, whole freeze-dried fruits and vegetables are highly favored over dried or granulated.
The enhancing packaging industry along with the improving lifestyle of consumers is boosting the freeze-dried fruits industry share.
The European region will account for the majority share in the freeze-dried fruits market and is projected to grow at a CAGR of over 7.5% over the forecast period due to the presence of major manufacturers here.
North America is another dominant market region for freeze-dried fruits, with a market share of over 25%, and is set to exhibit a similar market share throughout the forecast period.
B2B is a more volume-heavy sales channel than B2C in the freeze-dried fruits market. With the expansion of markets for snacks, breakfast cereals, powdered beverages, retail (household), and others, the B2B sales channel is gaining traction. It is anticipated to continue exhibiting high growth through the assessment period.

“Manufacturers of freeze-dried fruits would gain significant profits by extensive marketing and increasing their geographic reach among end-users. The ready-to-eat, convenient food and beverage industry would also serve as a major market for freeze-dried fruits,” says a Future Market Insights analyst.

Competitive Outlook

The market is fragmented and highly competitive without any major dominant players. Freeze-dried fruits manufacturers are singling on launching a wide variety of products in order to increase their consumer base and end-user industries and gain a competitive advantage.

Top freeze-dried fruits manufacturers are The Kraft Heinz Company, Mercer Foods, European Freeze Dry Ltd., Chaucer freeze-dried, Molda AG, SARAF Foods Ltd., Watershed Foods LLC, Freeze-Dry Foods, Nestle S.A., Mondelez International, The J M Smucker Company, Olam International, OFD Foods, Ajinomoto Co., Asahi Group, and Van Drunen Farms, among others. and others.

Some of them are focusing on marketing upon various health benefits of freeze-dried fruits that are highly sought-after among consumers. For instance, European Freeze Dry has launched their new complete meal solutions for special dietary meals, weight control meals, and others with an emphasis on sport nutrition, food intolerance, emergency preparedness, and others in the recent year.

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Market Segmentation Of Freeze-Dried Fruits Market

Nature:

Organic
Conventional

Product Type:

Whole
Diced
Powdered/Granulated

End use:

Food & Beverages Products
- Breakfast Cereals
- Dairy Products
- Bakery & Confectionery
- Nutritional Bars & Supplements
- Powdered Beverages
- Snacks
Retail (household)

Fruit Type:

Berries
- Strawberry
- Raspberry
- Blueberry
- Cranberry
- Others

Exotic & Tropical Fruits
- Mango
- Papaya
- Apple
- Guava
- Banana
- Cantaloupe

Orchard & Citrus Fruits
- Kiwi
- Pear
- Peach
- Lemon
- Orange
- Grapefruits
- Others

Sales Channel:

B2B
B2C
- Hypermarkets/Supermarkets
- Convenience Store
- Specialty Store
- Food & Drinks Specialty Store
- Independent Small Grocery Store
- Online Retail

Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan
Middle East & Africa
Japan

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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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Global Helicobacter Pylori Testing Market Expected to Reach US$ 380.3 Million by 2032 grow at a CAGR of 7.4%

The global helicobacter pylori testing market is poised for substantial growth, with an anticipated value of US$ 173.1 Million by the end of 2022, according to recent market research. Projections indicate a robust compound annual growth rate (CAGR) of 7.4% from 2022 to 2032, culminating in an estimated market value of US$ 380.3 Million.

The period spanning 2016 to 2021 witnessed significant expansion within the industry, with a value CAGR of 6.2%. Factors driving this growth include heightened awareness of immunodiagnostics in developed nations such as the United States and Germany, coupled with an increasing number of product approvals, which are fueling demand for Helicobacter Pylori Testing.

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Helicobacter pylori testing plays a crucial role in diagnosing infections in the upper small intestine and stomach, as well as evaluating treatment efficacy. Conditions such as peptic ulcers, stomach (gastric) cancer, and chronic gastritis can all stem from helicobacter pylori infections.

Various testing methods are available, ranging from non-invasive options like stool or breath samples to more invasive procedures requiring tissue samples obtained via endoscopy. Early detection is paramount, given that Helicobacter pylori infections, though usually harmless, are responsible for the majority of small intestine and stomach ulcers. According to research by the Centers for Disease Control and Prevention (CDC), Helicobacter pylori accounts for over 90% of duodenal ulcers and up to 80% of gastric ulcers.

The anticipated growth of the global helicobacter pylori testing market underscores the importance of advancing diagnostic technologies and promoting awareness of gastrointestinal health worldwide.

This Rise is attributed to Several Key Factors:

Increasing prevalence of peptic ulcers: H. pylori infection is a major culprit behind peptic ulcers. As peptic ulcer cases rise globally, the need for H. pylori testing to diagnose and manage the condition is bound to increase.
Growing awareness and improved diagnostics: Public health efforts and advancements in diagnostic technologies are leading to better awareness of H. pylori infection. This, in turn, fuels the demand for testing.
Focus on effective disease management: Early detection and treatment of H. pylori infection can prevent complications like peptic ulcers and stomach cancer. The growing emphasis on effective disease management strategies is propelling the H. pylori testing market.

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Key Market Drivers:

Rise in non-invasive testing: The availability of convenient and non-invasive tests, such as stool antigen tests and breath tests, is making H. pylori detection easier and more accessible.
Technological advancements: Development of faster, more accurate, and cost-effective diagnostic tools is further driving market expansion.
Focus on developing regions: The Asia Pacific region, with its growing population, increasing healthcare expenditure, and rising peptic ulcer cases, is expected to witness significant growth in H. pylori testing.

Key Companies Profiled:

Abbott Laboratories
ADI/American Diagnostica
Agilent Technologies
Bio-Rad Laboratories, Inc.
Helena Laboratories
Horiba
Takara Bio
EKF Diagnostics
Exalenz Bioscience Ltd.
Sekisui Diagnostics, LLC

Key Segments Covered in the Helicobacter Pylori Testing Industry Survey:

Helicobacter Pylori Testing Market by Test Type:

Helicobacter Pylori Testing with Endoscopy
- Histology
- Rapid Urease Testing
- PCR (Polymerase Chain Reaction)
- Culture Testing
Helicobacter Pylori Testing without Endoscopy
- Stool/Faecal Antigen Test
- Urea Breath Test
- H. Pylori Antibody Testing

Helicobacter Pylori Testing Market by End User:

Helicobacter Pylori Testing in Hospitals
Helicobacter Pylori Testing in Private Labs
Helicobacter Pylori Testing in Public Health Labs
Helicobacter Pylori Testing in Physician Offices

Helicobacter Pylori Testing Market by Region:

North America Helicobacter Pylori Testing Market
Latin America Helicobacter Pylori Testing Market
Europe Helicobacter Pylori Testing Market
Asia Pacific Helicobacter Pylori Testing Market
Middle East & Africa Helicobacter Pylori Testing Market

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Fuel Efficiency & Eco-Friendly Cars Drive Fluoroelastomer Market to US$ 2,374.8 Million by 2032

According to Future Market Insights, the global fluoroelastomer market reached US$1,467.6 million in 2022 and it is expected to surpass a valuation of US$ 2,374.8 million by 2032. Furthermore, the overall sales of fluoroelastomers are poised to rise at 4.9% CAGR throughout the forecast period (2022–2032).

Rising adoption across end-use industries such as automotive, oil & gas, energy, and aerospace is a key factor driving demand for fluoroelastomers globally. Similarly, rapid shift towards lightweight and fuel-efficient vehicles is expected to boost the global fluoroelastomer market during the assessment period.

Automotive industry has witnessed drastic changes over the last few years. Implementation of environmental regulations and vehicle norms across the world has promoted the use of lightweight and polymeric automotive components to increase fuel efficiency of the vehicle. Thanks to this shift in automotive industry, fluoroelastomer sales are growing at a healthy pace and the trend is likely to continue during the projection period.

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Fluoroelastomers possess various specific properties including high fluorine-to-hydrogen proportion, outstanding oil resistance, and strong heat stability due to the lack of saturation. Hence, they find application in diverse end-use industries.

The fluoroelastomer market is expected to be driven by rising end-user demand for materials with excellent mechanical qualities including lightweight and high resistance to heat and chemicals.

Advancements in existing fluoroelastomers for better performance are anticipated to create lucrative opportunities for fluoroelastomer manufacturers during the forthcoming decade.

“Upsurge in new aircraft production coupled with rising demand for lightweight and energy-efficient vehicles will create growth prospects for the global fluoroelastomer market projection period,” said an analyst at FMI.

Key Takeaways from Fluoroelastomer Market Study

The global market for fluoroelastomers is estimated to witness a growth rate of 9% CAGR during the forecast period.
By product type, fluorocarbon segment currently holds a share of 7% in the global fluoroelastomer market.
Based on end-use industry, automotive segment dominates the global market, holding a value share of 8%.
The North America fluoroelastomer market is projected to grow at 4% CAGR through 2032.
Demand for fluoroelastomers across the Europe is likely to increase at 1% CAGR between 2022 and 2032.
India’s fluoroelastomer market is forecast to grow at 6.2% CAGR during the assessment period.

Who is Winning?

Leading players operating in the global fluoroelastomers industry include The Chemours Company, 3M, Daikin Industries, Gujarat Fluorochemicals Limited, Zhejiang Fluorine Chemical New Materials Co., Ltd, Halopolymer OJSC, James Walker & Co, Shin-Etsu chemicals, AGC Chemical Inc., and Solvay SA.

Key fluoroelastomer manufacturing companies are concentrating on growing their regional market and are actively engaged in establishing their direct presence in the local markets through mergers and acquisitions with regional players. They are also focused on increasing their investments in research and development to uncover new application areas of fluoroelastomers.

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Fluoroelastomer Industry Segmentation

By Product Type:

Fluorosilicone
Fluorocarbon
Perfluoroelastomers

By End-use Industry:

Aerospace
Automotive
Chemicals
Consumer Electronics and Wearables
Oil and Gas
Energy
Pharmaceutical and Food
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
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 ~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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Bubble Tea Market Set for Rapid Expansion with Projected 9% CAGR, Reaching US$ 6.17 Billion by 2033 | FMI Projection

The bubble tea market is expected to increase at a 9% CAGR from 2023 to 2033, above the 9.1% CAGR witnessed between 2018 and 2022. This huge increase in growth rate suggests a high demand for bubble tea, resulting in a significant increase in market value from US$ 33,121.5 million in 2023 to US$61,152.4 million by 2033.

In recent years, the bubble tea sector has grown significantly in popularity. One of the main forces behind this growth is consumer demand for unusual and exotic drinks. A pleasant combination of tea, milk, fruit flavors, and chewy tapioca pearls, bubble tea—also referred to as boba tea—suits a variety of palates.

The market is driven by the rising appeal of Asian food and the impact of social media, which has been crucial in spreading awareness of and interest in bubble tea throughout the world. The visually captivating appearance, adaptable choices, and inventive taste profiles have elevated bubble tea to a fashionable and coveted beverage selection.

However, there are a few limitations and risks to take into account. Due to their high sugar content, some varieties of bubble tea have raised questions over their impact on wellbeing and health. In addition, the growing number of bubble tea brands in the market poses a challenge to both new and existing companies.

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Despite these obstacles, the bubble tea market offers numerous potential. Sugar-free and fruit-based bubble tea varieties have been developed in response to increased customer demand for healthier options. Furthermore, growing market presence through online delivery platforms and cooperation with other food and beverage companies can assist in reaching new client groups and increasing market reach.

The bubble tea sector has numerous potential for expansion and innovation. Market players can continue to capitalize on the popularity and demand for bubble tea and drive the market’s expansion by addressing consumer health concerns, adopting new taste profiles, and employing digital marketing methods.

Key Takeaways

In the United States, the market is growing at a CAGR of 23.9% in 2022.
The United Kingdom is expected to develop at a CAGR of 5.1% by 2033, suggesting a strong industry outlook and rising consumer interest in novel beverage options.
The increased popularity of specialty beverages and the influence of global food trends are predicted to push India’s Bubble Tea market to a CAGR of 4.7% by 2033.
China’s Bubble Tea market is expected to develop at a CAGR of 11.4% by 2033, driven by the country’s growing urban population and changing customer preferences for creative and refreshing beverages.
Japan’s market has a compound annual growth rate of 4.8% as per the forecast for 2022.

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Competitive landscape

The bubble tea market’s competitive environment is active and diverse, with several prominent competitors contending for market share. Chatime, a global brand, has a significant presence in several countries and offers a wide choice of personalized bubble tea alternatives. Kung Fu Tea distinguishes itself by emphasizing premium ingredients and traditional brewing procedures.

Gong Cha, noted for its unique flavors and toppings, has increased its global reach. CoCo Fresh Tea & Juice is a well-known bubble tea chain that uses fresh, high-quality ingredients. Tiger Sugar’s visually stunning “tiger stripe” cocktails have made a niche for themselves. These companies are constantly striving to differentiate themselves through flavor variety, customizable options, and distinctive branding, engaging in strong rivalry for the attention and devotion of bubble customers.

Recent Developments:

CoCo Fresh Tea & Juice is a global bubble tea franchise that stresses the use of fresh, high-quality ingredients. Their distinctive fruit teas combine fresh fruits with tea to create refreshing and tasty beverages.
Tiger Sugar is known for its distinctive and visually appealing cocktails with a “tiger stripe” pattern. They specialize in brown sugar bubble tea, which is made with slow-cooked brown sugar syrup for a rich, caramelized flavor profile.

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Key Segments in the Bubble Tea Market

By Base Ingredient:

Black Tea
Green Tea
Oolong Tea
White Tea
Others

By Sugar Content:

Regular
Reduced Sugar/Sugar-Free

By Toppings:

Pearl
Grass Jelly
Coconut Jelly
Red Bean
Multiple/Others

By Distribution Channel:

Direct (B2B)
Indirect (B2C)
Online Retailing

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

Author by:

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

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

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PAG Base Stock Market Poised for Explosive Growth: US$ 4.6 Billion Opportunity by 2033

The global PAG base stock market is expected to reach US$ 2.03 Billion and is projected to grow at a CAGR of 8.5% over the forecast period. According to the forecast, the PAG base stock industry size will reach US$ 4.6 billion over the forecast period.

Considering the excellent properties of PAG base oil as well as the benefits that it provides, it can be predicted that the demand for PAG base oil will improve over the coming years. As well as its excellent water solubility and high viscosity index, PAG base oils are also known for their shear stability as well as its high water solubility. Moreover, the low volatility of the synthetic compounds under high temperatures as well as their resistance to the formation of deposits or residues have also allowed them to be used in a variety of applications.

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The Global economy is set to be impacted significantly by emerging economies. As a result of its high water dissolving capacity, the PAG base oil market is expected to experience significant growth. Due to the growth of auto and other industries, the polyalkylene glycol (PAG) base oil market is expected to flourish in the future. In addition to the growing emphasis that is being placed on sustainability and energy transition, there are bound to be inevitable effects on both the supply and demand of base stock is expected to further grow the market.

PAG oils will continue to drive the synthetic market forward as an environmentally acceptable lubricant, in part due to the continuing emphasis on environmentally friendly lubricants in the industry. In addition to textile fiber producers, PAG oils have also been found to be beneficial in a number of other industries. During the scouring process, these lubricants can easily be removed, since they don’t stain or discolor fibers. In addition to fiber processes requiring shear stability at high speeds and temperatures, PAG oils are the lubricant of choice. Additionally, extreme-pressure gear lubricants are used on textile machinery.

Key Takeaways from the Market Study

According to market forecasts, the global PAG base stock market is set to reach US$ 4.6 billion by 2032.
According to projections, the automotive sector is expected to grow at a CAGR of 6.8% between 2023 and 2033.
According to the estimates, compressed oil is expected to possess a revenue share of 38.5% during the forecast period.
PAG base stock in North America is expected to grow at a CAGR of 6.2% during the forecast period
Asia Pacific PAG base stock market revenue is expected to grow by 29% during the forecast period.

“Recent energy conservation emphasis has increased interest in high-performance lubricants for automotive, textile and aerospace applications, which is expected to grow at a steady pace for the foreseeable future for the PAG base stock products.,” comments an analyst at FMI.

Competitive Landscape

BASF SE, The Dow Chemical Company, Clariant AG, Idemitsu Kosan Co., Ltd., PCC Group, Fuchs Group, Croda International Plc, Exxon Mobil Corporation, Technical Lubricants International B.V., and Shandong Shing Chemical Co., Ltd.

By partnering strategically, manufacturers are able to boost production and meet consumer demands, increasing revenue and market share. Manufacturing products that are beneficial to the end user by utilizing new technologies and products. Expansion of production capabilities can be facilitated through strategic partnerships.

LIQUI MOLY GmbH, a German manufacturer of lubricants, recently announced that its annual production has exceeded 100,000 tonnes. It was an increase in both oil and aftermarket additive production at LIQUI MOLY this year. Fuel additives, oil additives, and coolant additives were produced in 16.3 million cans in the first quarter of the year – up 14% over last year.

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More Valuable Insights Available

FMI presents an unbiased analysis of the PAG base stock market in its new offering, presenting historical demand data (2018-2022) and forecast statistics for 2023-2033.

The study divulges essential insights on the PAG base stock market analysis report by Type (Water Soluble, Water Insoluble, Mineral Oil Soluble, Random Copolymer, Block Copolymer) Application (Gear Oils, Fire Resistant Hydraulic Fluids, Food Grade Lubricants, Compressor Oils, Wind Turbine Lubrication, Metalworking and Quenching Fluids, Other Applications), by End Use (Automotive, Aerospace, Marine, Industrial Equipment, HVAC & Refrigeration, Others), by Region – Global Forecast 2023-2033.

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