Market Research Blog – Page 3290 – New Product Development

Global Passenger Car Seat Market Reaches US$ 50.4 Billion by year 2034

The global passenger car seat market is anticipated to reach a valuation of US$ 43.6 billion in 2024, driven by emerging markets and demographics. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 1.5% between 2024 and 2034, and reaching a total valuation of US$ 50.4 billion by 2034.

Key Takeaways from the Market Study

Global passenger car seat market was valued at US$ 5 billion in 2023.
From 2019 to 2023, the market demand expanded at a CAGR of 3.5%.
The market in Japan is expected to expand at a CAGR of 2.9% through 2034.
By seat type, the bucket segment to account for a CAGR of 1.3% through 2034.
The absolute dollar growth of the market is projected to reach a value of US$ 6.8 billion during the forecast period.
The market in the United Kingdom is expected to expand at a CAGR of 2.6% through 2034.

“Advancements in rapid prototyping and manufacturing technologies, such as 3D printing and digital simulation tools, are enabling car seat manufacturers to accelerate product development cycles, optimize designs, and reduce time to market for new seating solutions,” – Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

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Car seat manufacturers are exploring ways to offer personalized seating experiences tailored to individual preferences, with advancements in technology, which includes customizable seat settings, memory functions, and integration with biometric sensors to optimize comfort and support for different passengers.

Continuous innovations in materials science are enabling the development of lighter, stronger, and more durable materials for car seat construction, which includes the use of advanced textiles, composite materials, and nano coatings to enhance performance, comfort, and longevity while reducing environmental impact.

Car seat manufacturers are integrating features such as built in screens, USB charging ports, and wireless connectivity options, to enhance the passenger experience and cater to modern lifestyle preferences, as in car entertainment and connectivity become increasingly important for consumers.

The increasing adoption of electric and hybrid vehicles presents unique challenges and opportunities for car seat manufacturers. Electric vehicles, in particular, require innovative seat designs to accommodate battery packs, optimize interior space, and maintain overall vehicle efficiency.

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Competitive Landscape

Prominent players in the passenger car seat market are Adient plc, Faurecia (Groupe PSA), Lear Corporation, Aisin Corporation (Toyota Motor Corporation), Magna International, Inc., TS TECH Co., Ltd., Johnson Controls International PLC, NHK Spring Co., Ltd, TACHI-S CO., LTD., and Gentherm Incorporated, among others.

Recent Development

In 2023, Faurecia introduced the zero gravity captain chair tailored specifically for the Chinese market, which offers advanced wellbeing features coupled with unparalleled comfort and relaxation. Developed by Faurecia’s team in China, the chair combines local consumer insights with the expertise of the company in seating and wellbeing solutions.

Report Scope

Attribute	Details
Estimated Market Size in 2024	US$ 43.6 billion
Projected Market Valuation in 2034	US$ 50.4 billion
Value-based CAGR 2024 to 2034	1.5%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in US$ billion
Key Countries Profiled	The United States Canada Brazil Mexico Germany France France Spain Italy Russia Poland Czech Republic Romania India Bangladesh Australia New Zealand China Japan South Korea GCC countries South Africa Israel

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Segmentation Analysis of the Passenger Car Seat Market

Seat Type:

Bucket
Split/Bench

Technology:

Powered Seats
Standard Seats
Heated Seats
Powered, Heated and Memory Seats
Powered, Heated and Ventilated Seats
Powered, Heated, and Memory Seats
Powered, Heated, and Memory Seats
Powered, Heated, Ventilated, Massage, and Memory Seats

Trim Material:

Synthetic Leather
Genuine Leather
Fabric and Foam

Component Type:

Seat Belt
Seat Frame and Structure
Armrest
Pneumatic System
Seat Headrest
Side/Curtain Airbag
Seat Headrest
Seat Recliner and Height Adjuster
Others

Region:

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

Author

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

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

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

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Gear Up for Growth: Automotive Manufacturing Equipment Market Reaches US$ 19.4 Billion by 2034

The global automotive manufacturing equipment market is poised to grow at a CAGR of 11.1% during the forecast period. It will likely attain a valuation of US$ 6.8 billion in 2024 and US$ 19.4 billion by 2034.

The conveyor belt segment is anticipated to progress at a healthy CAGR of 11.0% during the assessment period. This is attributable to the growing usage of conveyor systems in the automotive industry.

Key Takeaways from the Report

The global market for automotive manufacturing equipment is projected to expand with 11.1% CAGR through 2034.
By equipment type, the conveyor belts segment is expected to grow at a CAGR of 0% CAGR from 2024 to 2043.
Based on vehicle type, passenger vehicles segment is poised to exhibit a CAGR of 5% through 2034.
The United States market is estimated to be valued at US$ 3.5 billion in 2034.
Sales in China are set to be valued at US$ 3.2 billion by 2034.
South Korea is set to exhibit a CAGR of 3% CAGR through 2034.

“The global automotive manufacturing equipment industry is set to register strong growth through 2034, driven by expanding automotive sector, growing demand for electric vehicles, and high adoption of automation,” – Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

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Growth in the automotive manufacturing equipment market is expected to be propelled by several factors during the forecast period. These include:

Robust expansion of the automotive sector globally
Growing focus of automakers on improving productivity and reducing labor costs
Rising popularity of electric and hybrid vehicles
Increasing penetration of Industry 4.0 technologies in the automotive sector

Rapid population growth and urbanization are leading to increasing car ownership. This is prompting the automotive industry to significantly increase its production capacity, thereby fueling demand for automotive manufacturing equipment.

Several leading automakers are adopting Industry 4.0 principles and smart manufacturing practices, including automation and robotics. This will continue to act as a catalyst, triggering sales of automotive manufacturing equipment during the assessment period.

Rising demand for electric vehicles is another key factor expected to fuel the growth of the automotive manufacturing equipment market through 2034. These vehicles need specialized equipment for battery production, charging infrastructure, and sensor systems.

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Competitive Landscape

ABB, FANUC CORPORATION, KUKA AG, Dürr Group, AMADA CO., Yaskawa Electric Corporation, Kawasaki Heavy Industries, and Schuler Group are the top manufacturers of automotive manufacturing equipment listed in the report. They account for a significant share of the global automotive manufacturing equipment industry.

Key players are constantly developing advanced manufacturing equipment and showcasing them during trade shows and exhibitions. They also employ tactics like partnerships, facility expansions, collaborations, distribution agreements, acquisitions, and mergers to expand their revenue and fortify their market positions.

Recent Developments:

In 2022, FANUC unveiled its latest automation solutions, including new cobots, robots, and factory automation technologies at IMTS.
In June 2023, to meet the growing demand for automotive and related components, Nidec Machine Tool Corporation announced the establishment of a new factory in India.

Scope of the Report

Attribute	Details
Estimated Market Value (2024)	US$ 6.8 billion
Projected Market Value (2034)	US$ 19.4 billion
Anticipated Growth Rate (2024 to 2034)	11.1% CAGR
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value (US$ billion), Volume (Units), and CAGR for 2024 to 2034
Key Countries Covered	Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others

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Automotive Manufacturing Equipment Market by Category

By Equipment Type:

Conveyor Belt
CNC Machine
Robot
Injection Molding Machine

By Vehicle Type:

Passenger Vehicles
Commercial Vehicles

By Region:

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

Author

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)

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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Premixed Cocktail Shots Market Expected to Reach US$ 6,716 Million by 2032, Driven by Growing Popularity of Cocktail Drinks

The global premixed cocktail shots market is anticipated to grow at a robust CAGR of 6.1% between 2022 and 2032. The overall sales of premixed cocktail shots are likely to surpass US$ 6,716 Mn by 2032. As per FMI, the global premixed cocktail shots market recorded a valuation of US$ 3,708 Mn in 2022.

Increasing consumption of cocktail drinks among millennials is one of the key trends shaping the premixed cocktail shots market in Japan. Cocktails are fast replacing beer as the drink of choice among Gen-Zs and millennials. In addition, cocktail parties that offer a variety of beverages including wines and spirits are becoming increasingly popular in Japan. As a result, demand for premixed shots at these events is expected to surge over the forecast period.

Hence, key players are introducing a number of new products most notably, vodka-based drinks such as Vodka Red Bull and Vodka Orange to gain revenue and cater to the growing demand in the country. Preference for drinks containing bourbon, tequila, and other types of liquor are also contributing to growth in the premixed cocktail shots market.

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Traditional Japanese sake rice wine may be losing ground to Western-style alcoholic beverages, but it still remains one of the most popular options. Sales of sake are likely to maintain steady growth due to its wide availability and low price point relative to other distilled beverages. Despite growing popularity, sales of pre-mixed cocktails made with malt whiskey, gin, brandy or scotch declined in recent years.

Further, consumers are looking for a different experience and want to mix their own drinks according to their preferences. Millennials are seeking these new types of cocktails which offer both alcohol content and variety; this is creating a larger consumer base for premixed cocktail shots. Japan’s favorable stance towards drinking culture will drive its future growth, estimates FMI.

Key Takeaways from the Premixed Cocktail Shots Market

Japan’s premixed cocktail shots market is anticipated to grow at a moderate CAGR during the forecast period.
The premixed cocktail shots in Japan accounted for a significant market valuation in the base year.
Increasing preference for a wide variety of liquor and drinks among Japanese will drive the demand in the market.
As people shift towards Japanese to western drinks the demand for premixed cocktail shots in the younger generation is expected to rise at a rapid pace.

“Growing trend for cocktails in cocktails parties among millennials will boost the demand of Japan premixed cocktail shots market. Hence, key players are introducing numerous flavors and unique blend of ingredients to cater to the rising demand for a variety of liquor.” – Nandini Roy Choudhury, Client Partner at Future Market Insights

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Competition Landscape in the Premixed Cocktail Shots Market

Key companies are focusing on innovating their product portfolios by introducing new and advanced products. Further, they are implementing various other tactics, such as partnerships, mergers, acquisitions, and collaborations to strengthen their position in the global market.

Suntory Holdings Asahi Group Holdings, Ltd, and Sapporo are the leading players in japan premixed cocktail shots market.

Recent Developments

In March 2020, in an effort to capitalize on its ready-to-drink beverage success in Japan, beverage producer Suntory Holdings will offer a new alcopop to Taiwanese consumers.
In June 2022, Asahi Group Holdings, Ltd. is thrilled to announce that Asahi Breweries, Ltd., the business responsible for the Group’s alcoholic beverage business in Japan, will start the SHIBUYA SMART DRINKING PROJECT on June 29 and open a permanent site, SUMADORI-BAR SHIBUYA, in Shibuya, Tokyo, through a joint venture firm.

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Key Segments Profiled in the Premixed Cocktail Shots Industry Survey

Premixed Cocktail Shots Market by Primary Ingredient:

Malt-based Premixed Cocktail Shots
Wine-based Premixed Cocktail Shots
Spirit-based Premixed Cocktail Shots
Others Premixed Cocktail Shots

Premixed Cocktail Shots Market by Additive Ingredient:

Alcoholic
Non-alcoholic

Premixed Cocktail Shots Market by Sales Channel:

Liquor Store
Hypermarket/Supermarket
Convenience Store
Online Retail
HoReCa
Others

Premixed Cocktail Shots Market by Region:

North America Premixed Cocktail Shots Market
Latin America Premixed Cocktail Shots Market
Europe Premixed Cocktail Shots Market
Asia Pacific Premixed Cocktail Shots Market
Middle East and Africa Premixed Cocktail Shots Market

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Protein Snacks Market Forecasted to Reach US$ 10 Billion by 2032 with 9.3% CAGR Growth, Fueled by Rising Consumers Health Consciousness

The worldwide protein snacks market is supposed to follow an expected CAGR of 9.3% in the worldwide market, during the gauge time frame. The absolute income of the worldwide protein snacks piece of the pie is esteemed at US$ 4.1 Billion in 2022 and is supposed to cross US$ 10 Billion by 2032.

The demand for protein snacks is anticipated to increase as consumers become aware of the occurrence of chronic health issues such as obesity and heart diseases that emerge from consuming unhealthy food products. The availability of both plant-based and meat-based protein snacks in the market, catering to the nutritional preferences of different communities, is also likely to surge the adoption of protein snacks.

The protein snacks market share is expected to grow rapidly owing to the anti-aging properties of high-protein food products, as it provides energy for consumers in the category of the geriatric population. The increasing popularity of naturally-sourced and organic food products that supply maximum nutritional value amongst the millennial crowd is likely to increase the demand for protein snacks further in the coming days.

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Segmentation of the Protein Snacks Market:

Nature:

Organic: Witnessing a surge in demand, particularly in North America and Europe, driven by urban consumers with a preference for premium protein snacks made from organic ingredients.

Conventional: Catering to a broader market base, with steady demand across various geographies.

Product Type:

Protein Bars & Jerky: Dominating the market, with high availability and share, driven by the perception of protein-based diets as a healthy choice for breakfast occasions.

Chips & Pretzels, Protein Flakes & Granola: Maintaining substantial market presence, fueled by the growing emphasis on protein-rich breakfast and snack options.

Protein Drinks & Yogurt, Protein Cookies, Others: Expanding the range of protein snack offerings to cater to diverse consumer preferences.

Distribution Channel:

Modern Trade: Leading the market in global protein snack sales, reflecting the convenience and accessibility of modern trade retailers.

Retail Stores: Maintaining a significant share in the market, offering a diverse range of protein snacks to a wide consumer base.

Specialty Store, Wholesalers & Distributors: Contributing to market penetration by providing specialized and bulk offerings.

Online Retailers: Exhibiting growth in the fortified food sector, as functional food manufacturers leverage e-retail platforms, promising a rise in online sales.

Region:

North America, Europe, Japan: Established markets with a growing demand for premium protein snack products.

Asia Pacific, Latin America: Witnessing a rising trend in the demand for protein snacks, reflecting evolving consumer preferences in these regions.

Middle East and Africa: Emerging markets showing potential for the growth of protein snacks in the near future.

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Protein Snacks market Global Market Trends and Market Drivers

The rising health-issues and long-existence of malnutrition issues in underdeveloped countries compelled the consumer to become health conscious and take actions to counter these problems on the individual level. This resulted in the rising health-awareness among consumers and leading a complete change in the snacking habits of people worldwide.

Moreover, the protein-based food & beverages market encountered a rise in demand owing to the growing consumer awareness of the benefits of plant-based protein snacks. All these factors are driving the demand for protein-based food product including the protein snacks. Furthermore, the increasing demand for naturally sourced and organically produced food products offers strong growth opportunities for players active in the field of protein snacks market to offer multiple ranges of organic protein snacks.

On the flip side, the high cost incurred in snack fortification and retail-based dependency of global snacks market coupled with high-level cost-competition among manufacturers is restraining the full-fledged growth of the protein snack market.

Protein Snacks Market Key Players

Variety of Protein Snacks products with multiple formulations have been introduced by the manufacturers and some of the global market players manufacturing Protein Snacks in the market include; Vitaco health Australia, Powerful Men LLC, Quest Nutrition LLC, General Mills (Natures Valley), Clif Bar & Company, Kellogg Co., Buff Bake are among others.

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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 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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Frozen Pet Food Market Projected to Reach US$ 25.6 Billion by 2034 with 5.2% CAGR Growth, Driven by Humanization Trend and Increasing Demand for Natural Products

The global frozen pet food market value is estimated to expand at a CAGR of 5.2% over the assessment period. In 2024, the market is expected to generate a revenue worth US$ 15,351.24 million. By 2034 end, the market size is forecast to expand to US$ 25,595.4 million.

The frozen pet food market is undergoing a surge in growth, driven by a growing demand from pet owners who prioritize high-quality and convenient options for their beloved companions. This niche segment within the pet food industry is gaining momentum, offering an array of benefits such as extended shelf life, nutrient preservation, and minimal additives.

Frozen Pet Food Unleashes a Healthy Revolution:

Pet owners are increasingly turning to frozen pet food products, recognizing the advantages they bring to their furry friends. The frozen format ensures an extended shelf life while retaining essential nutrients. Unlike traditional pet foods, frozen options boast a healthier profile, free from additives and excessive processing.

Key Benefits of Frozen Pet Food:

Extended Freshness: Frozen pet food products remain fresh for a longer duration, ensuring pet owners can conveniently stock up on nutritious options.
Nutrient Preservation: The freezing process helps retain vital nutrients in pet food, contributing to the overall well-being of pets.
Minimal Additives: Unlike some traditional pet foods, frozen options often feature minimal additives, aligning with the growing consumer preference for clean and natural pet nutrition.

The Rise of Health-Conscious Pet Parents:

Pet owners’ concerns about the nutrition and health of their furry companions are steering a global trend towards high-protein pet food and fresh recipes. This shift in consumer behavior is propelling new developments in the raw, fresh, and frozen pet food market. The emphasis on providing pets with the best nutrition for an active, healthy, and happy life is driving the popularity of high-quality pet food options.

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Millennials Driving Innovation:

With a willingness to explore new diets and recipes for their pets, pet parents, especially millennials, are reshaping the frozen pet food landscape. The industry is witnessing a wave of experimentation and innovation from leading players, responding to the evolving preferences of pet owners. This trend towards diverse and innovative offerings is creating a dynamic market for frozen pet food.

Key Takeaways:

Based on pet type, sales of frozen pet food for dogs are anticipated to account for over 50% of the total market share.
In terms of nature, demand for organic frozen pet food is expected to gain traction at a considerable pace over the assessment period.
Animal derived frozen pet food is expected to hold a market share of over 40% in the forecast period.
Sales in the U.S. frozen pet food market are expected to rise at a 3.20% CAGR through 2034.
India will account for 35.6% of the South Asia frozen pet food market share over the forecast period.
Demand for frozen pet food in Germany is expected to increase at a 2.3% CAGR over the assessment period.

“Growing preference for clean-label frozen pet food, along with high demand for different flavors and textures is expected to create opportunities for growth for frozen pet food manufacturers in the forthcoming years,” Nandini Roy Choudhury, Client Partner at Future Market Insights

Competitive Landscape

Due to the existence of various regional and international firms offering a wide range of frozen pet food items, the global frozen food industry is extremely competitive. Key players control a large portion of the market, and they are pursuing strategies such as product innovations, strengthening their hold on offline and online marketing, partnerships, mergers, and acquisitions to increase their visibility and portfolio of offerings, thereby accelerating market growth.

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Frozen Pet Food Market by Category

By Pet Type:

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

By Nature:

Organic
Conventional

By Source:

Animal Derived
Plant Derived
Insect Derived

By Sales Channel:

Offline Sales Channel
- Supermarkets/Hypermarkets
- Pet Stores
- Convenience Store
- Other Sales Channel
Online Sales Channel
- Company Website
- E-commerce Platform

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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Trolley Bags Market is Expected to Rise to US$ 32,924.20 Million by 2033 | FMI

The trolley bags market is projected to be valued at US$ 18,913.21 million in 2023 and is expected to rise to US$ 32,924.20 million by 2033. The sales of trolley bags are expected to capture a significant CAGR of 5.7% during the forecast period.

The trolley bags market has experienced significant growth in recent years, fueled by the rise in travel and tourism activities across the globe. As more people embark on domestic and international trips for leisure, business, and other purposes, the demand for trolley bags has surged.

Trolley bags, also known as rolling luggage or wheeled suitcases, offer travelers convenience, mobility, and ample storage space. They are designed with wheels and retractable handles, allowing users to easily transport their belongings without the need for heavy lifting or carrying. Trolley bags come in various sizes, styles, and materials to cater to different travel preferences and requirements.

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The growth of the travel and tourism industry has been a key driver behind the expansion of the trolley bags market. With increasing disposable incomes and a growing desire for exploration and leisure, more people are traveling domestically and internationally. This has resulted in a higher demand for reliable and durable luggage options, including trolley bags.

Furthermore, the rise of e-commerce and online travel booking platforms has made it easier for consumers to research and purchase travel accessories, including trolley bags. The convenience of online shopping, a wide range of options, and competitive pricing have contributed to the market’s growth.

Manufacturers in the trolley bags market are continually innovating to meet evolving consumer needs and preferences. They are introducing lightweight materials, enhanced durability features, smart functionalities, and stylish designs to attract consumers. Additionally, eco-friendly and sustainable trolley bags have gained traction as travelers become more conscious of their environmental impact.

Geographically, the market for trolley bags is expanding across different regions, including North America, Europe, Asia Pacific, and beyond. The growth of emerging economies, rising disposable incomes, and increased travel activities in these regions are contributing to market expansion.

North America holds a significant share of 26.0% in the trolley bags market, driven by rapid urbanization and increasing disposable income. The region’s population is increasingly engaging in adventurous activities and travel, resulting in a higher demand for trolley bags for easy luggage carrying.

Europe dominates the global trolley bags market, accounting for 34.0% of the total market share. This growth can be attributed to key market players in the region who continuously innovate and offer consumers durable and unique trolley bag solutions.

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Recent Developments

Rimowa, a German luggage manufacturer, collaborated with Nike-owned digital fashion company RTFKT to launch an NFT line and a new NFC-enabled luxury bag in October 2022.
In August 2022, Samsonite unveiled Magnum Eco, a new brand of luggage built from yogurt cups and plastic bottles. The liner of this new baggage line is constructed from plastic mineral water bottles that have been transformed into the exterior of hard-side bags.
VIP Industries launched its first smart linked travel gear at Metro Cash & Carry in India in April 2022. It is outfitted with technology that sends warnings to users’ phones. With a simple click, customers can remain updated on the status of their luggage, including proximity and arrival information.

Key Segments Covered in the Trolley Bags Market Report

By Material Type:

Hard-Side
Soft-Side

By Price Range:

Premium
Medium Range
Low Range

By Distribution Channel:

Supermarkets/Hypermarkets
Specialty Stores
Factory Outlets
Online Stores
Others

By Region:

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

About Future Market Insights Inc. (FMI)

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Phytochemical Market Projected to Reach US$ 14,821 Million by 2033 with 7.1% CAGR Growth, Fueled by Rising Demand in Food, Nutraceuticals, and Pharmaceuticals

Estimates project a substantial rise in worldwide phytochemical sales, reaching US$ 7,436 million in 2023. A comprehensive industry analysis foresees the global phytochemical market surging at a robust CAGR of 7.1%, poised to attain US$ 14,821 million by 2033.

Diverse applications of phytochemicals are anticipated to fuel growth across various end-use sectors such as food and beverages, nutraceuticals, and pharmaceuticals. By 2033, the food and beverage segment is expected to dominate significantly, while animal nutrition sales are projected to witness a notable increase of 13.4%.

In the nutraceutical industry, the demand for phytochemicals and plant extracts is on the rise, utilized as health supplements and anti-aging agents. This heightened demand reflects a growing trend in the use of phytochemicals in dietary supplements, indicating substantial future growth.

Increasing awareness regarding the detrimental effects of chemically processed foods is likely to boost the popularity of plant extracts and ingredients. However, challenges such as raw material shortages, fluctuating prices, trade dynamics, and the availability of alternative plant-derived products present constraints to the market’s expansion.

Crucially, it’s worth noting that phytochemicals and herbal extracts are directly derived from crude plant materials, showcasing significant variations in composition, quality, and therapeutic effects. The recent surge in traditional medicine consumption, particularly Ayurveda, has unexpectedly propelled the utilization of natural plant ingredients in Ayurvedic manufacturing.

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“Phytochemicals are products derived from organic plants and are used in the manufacturing of organic food and supplement manufacturing. The nutraceutical industry has seen an increase in demand for phytochemicals and plant-based products due to the growth in organic agriculture.” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Takeaways from Market Study

The phytochemical market is expected to record a CAGR of 7.1% over the forecast period.
It is estimated that the phytochemical market in North America may remain strong during the forecast period.
The phytochemical market of Germany is estimated to be valued at US$ 468.8 million by 2033.
The United Kingdom is predicted to thrive at a CAGR of 2.8% due to the rising trend of ‘veganism’ and ‘vegetarianism’.
Powder phytochemical product type is estimated to account for more than 82% of the market share in 2023 with a CAGR of 6.7%.
Flavonoids are estimated to account for more than 35.0% of the market share in 2023 with a CAGR of 8.8%.

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Competitive Landscape:

In the phytochemical market, intense competition has resulted from the growing demand for nutritional supplements and the emergence of new players. In a market that focuses more on innovation than sales, small-scale players are creating growth opportunities.

Small-scale companies are merging with substantial companies to offer their products to a broader consumer base and include innovative products in their product portfolios.

Several prominent companies dominate this market, including Döhler GmbH, Naturex SA, Kemin Industries Inc, Linnea SA, Sabinsa Corporation, Kothari Phytochemicals & Industries Ltd, Indena SpA, Alkaloids Corporation, Arboris LLC, Allied Biotech Corp., Organic Herb Inc. (OHI), LIPO Foods, Nektium, FYTEXIA, Chr. Hansen Holding A/S, BASF SE, and others.

Recent Developments:

Cargill acquire Delacon, a producer of photogenic chemicals derived from plants, in 2022. Through the acquisition, the company plans to manufacture nutrient-dense foods and gain a deep understanding of feed additives.
An exclusive and long-term supply agreement was signed between BASF and Mazza Innovation in July 2018. The company Mazza Innovations specializes in botanical extractions. In order to develop new solutions for cosmetic applications, the company supplies BASF with specific plant extracts.

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Market Segmentation by Category

By Molecule Type:

Alkaloids
Anthocyanins
Carotenoids
Coumestans
Flavon-3-ols
Flavonoids
Hydroxycinnamic Acids
Isoflavones
Lignans
Others

By Form:

Powder
Liquid

By Application:

Food and Beverages
Nutraceutical
Pharmaceutical
Personal Care and Cosmetics
Animal Nutrition
Others

By Region:

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

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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Wheatgrass Products Market Poised to Reach US$ 114,398.6 Billion by 2033, Fueled by Increasing Health Awareness and Demand for Natural Remedies

The global wheatgrass products market is anticipated to attain a valuation of US$ 62,400 million in 2023 and is expected to reach US$ 114,398.6 million by 2033, trailing a CAGR of 6% during the forecast period.

Globally, the growth of the organic wheatgrass products market is primarily driven by the increasing aging population, growing health awareness among consumers, as well as new developments and innovations. Furthermore, middle-aged and elderly populations have been observed to readily invest in these products to support their immune system.

The organic wheatgrass products market is experiencing strong growth due to its nutritional advantages. The increasing demand for plant-based nutritious products is a major catalyst in the development of the organic wheatgrass products market. Companies are actively expanding their research efforts to introduce new formulations, resulting in an expanded range of products that cater to diverse consumer needs and preferences.

The demand for naturally nutritious ingredients like green vegetables, grasses, and seaweed is driving the consumption of green foods. As a result, the organic wheatgrass products market is experiencing significant growth due to its nutritional advantages. Wheatgrass juice, consumed as a morning meal, is recognized for its anti-inflammatory, antioxidant, anti-carcinogenic, immunomodulatory, and anti-bacterial properties. The increasing trend of consuming organic and healthy products is a key factor fueling the market’s growth.

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Over the past few years, there has been a surge in consumer interest worldwide towards plant-based functional food and beverages. Organic wheatgrass has emerged as a popular ingredient in various mainstream food and beverage products, adding functional properties. The market growth is expected to be driven by continuous innovation and product development efforts aimed at creating indulgent functional products using wheatgrass. For example, in March 2018, Amazing Grass, a California-based brand specializing in organic powdered supplements, introduced a new protein powder called Organic Protein and Kale, which includes organic wheatgrass powder.

Key Takeaways

United States wheatgrass products market is expected to grow with a CAGR of 5.8% during the forecast period.
The market in United Kingdom is expected to grow with a CAGR of 2.6% during the forecast period.
By distribution channel, B2C segment is projected to grow with a significant CAGR of 6.4% during the forecast period.
The market in India is expected to grow with an impressive CAGR of 24.6% throughout the forecast period.

“Increasing demand for plant based nutritious products is expected to drive market growth during the forecast period,” Nandini Roy Choudhury, Client Partner at Future Market Insights

Competitive Landscape

The Wheatgrass products market is intensely competitive, with several key industry players investing heavily in providing these services.

The key industry players are Now Foods, Synergy Natural, Dynamic Greens Wheatgrass Juice, Navitas Organics, My protein, Pines International, Inc., Herbco International Inc, Nutriblade, Girmes Wheatgrass, E-Phamax, Terrasoul Superfoods, Naturya, ABE’S Organics, Nature Bell, Amazing Grass, Dr. Berg.

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Some recent developments in the market are:

Key industry players are utilizing organic growth strategies like acquisitions, mergers, tie-ups, and collaboration to bolster their product portfolio. This is expected to propel the global wheatgrass products market.

In March 2021, JIVO Wellness, a New Delhi-based company, launched an exciting range of products, including a refreshing wheatgrass summer drink. To expand its reach, the company has formed partnerships with leading e-commerce platforms and superstores for widespread distribution.
In February 2021, Living MaKa introduced its inaugural range of convenient and ready-to-drink wheatgrass beverages, aiming to make wheatgrass easily accessible to all. In July 2022, MaKa joined forces with UNFI and KeHE to enhance distribution, making their products available in independent and natural stores across various regions nationwide.
In 2020, JIVO Wellness unveiled an expanded range of products, featuring organic basmati rice, muesli munch, choco flakes, wheatgrass summer drinks, and more.
In September 2020, Nature’s Path, a significant player in the industry, introduced a new product line consisting of superfood granolas and cups made from wheatgrass.

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Key Segments Profiled in the Wheatgrass products Market Industry Survey

By Type:

Juice
Powder

By Nature:

Natural
Organic

By End Use Application:

Industrial
- Food & Beverages
- Nutraceuticals
- Personal Care & Cosmetics
- Pharmaceuticals
- Pet Food
Household

By Packaging Type:

Pouches
Tins
Bottles
Sachets
Capsules

By Distribution Channel:

B2B
B2C
- Hypermarket/Supermarket
- Convenience Store
- Specialty Store
- Online Retailers
- Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

About Future Market Insights (FMI)

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

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Freeze Dried Fruits Market Set to Reach US$ 17.82 Billion by 2033, Driven by Growing Demand for Natural Ingredients and Health-Conscious Consumer

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 continue to remain an essential commodity since the outbreak of the pandemic. According to FMI, the food and beverages in all will register above 3% CAGR in the forecast period. With consumers’ preferences changed, the demand for cost-effective yet healthy and sustainable food solutions is surging, hence, pushing sales of freeze-dried fruits and vegetables in the near future.

Various types of freeze-dried products such as freeze-dried blackberry, freeze-dried raspberry, freeze-dried pineapple, freeze-dried strawberries, freeze-dried cranberry, and others are increasingly used in confectionery, smoothies, juices, ice creams, bakeries, and other ready to eat food products.

A key factor driving the market is the prolonged shelf-life of freeze-dried fruits without any synthetic ingredients or preservatives. The rising number of confectionaries has been fuelling the demand for dehydrated forms of food like freeze-dried fruits due to their long shelf lives and diverse array of applications in healthy diets.

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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,” Nandini Roy Choudhury, Client Partner at Future Market Insights

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.

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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Dairy Ingredients Market Projected to Reach US$ 118 Billion by 2033, Fueled by Rising Consumption of Milk Products and Growing Demand for Functional Food Ingredients

The global dairy ingredients market is estimated to total US$ 66 Billion in 2023. The overall market value is expected to reach US$ 118 Billion by 2033, rising at a CAGR of 6% between 2023 and 2033.

The rise in consumption of ready-to-eat foods, cheese, yogurt, curd, and other functional food ingredients has climbed due to the presence of protein. The versatile application of dairy ingredients for food processing as well as the application of dairy ingredients in cosmetics is driving the market.

Dairy products are very rich in protein and essential amino acids due to the presence of casein and caseinates in milk. Lactose derivatives of milk find application in pharmaceutical procedures as prebiotics to promote gut health. Conventionally, milk and dairy consumption are linked with holistic diet quality.

According to the United Nations, the world population is expected to reach 9.7 billion by 2050 providing the nudge for dairy ingredients consumption. Convenient sales channels of discount retail chains, e-commerce, and supermarket retailing are benefitting the dairy ingredients market.

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Key Takeaways from the Market Report

The global dairy ingredients market totaled sales of USD ~60 Bn in 2022.
Milk powder is easy to store and has a greater shelf life as compared to pure milk and is projected to grow at a rate of ~4%. Milk powder is expected to remain the dominant market segment by product type, attributed to extensive applications across infant foods and growing consumption of ready-to-eat bakery and confectionery and ready-to-drink tea, coffee, and other milky beverages.
Dairy ingredients precipitated from milk like casein and caseinates, and whey is a crucial raw material in the development of supplements and in other food processing applications.
There is the application of dairy ingredients in cosmetics and personal care products in form of an aqueous solution of casein and milk as a natural moisturizer.
Asia Pacific dairy ingredients market is expected to grow at 4.3%. India and China spearheading the Asia-Pacific dairy ingredients industry growth which is expected to pivot global growth given the rapid urbanization, rising number of convenience stores, and tech advancements in dairy processing.
The components of dairy ingredients on the label are expanding for the sake of making food and beverage products more nutritional, proliferating demand for various dairy ingredients.

Competitive Outlook

Strategic alliances will aid the growth of the dairy ingredients market, like, the collaboration between India’s Future Group and New Zealand’s Fonterra co-operative dairy to develop and provide high-value consumer dairy products.
Major dairy ingredient companies include Fonterra Co-operative Group, Lactalis Group, AMCO Proteins, Arla Foods, Cayuga Dairy Ingredients, Dairy Farmers of America, Epi Ingredients, Friesland Campina, Glanbia Plc, Gujarat Co-operative Milk Marketing Federation Ltd. , Ingredia SA, Kerry Group, Megmilk Snow Brand Co., Meiji Holdings Co., China Mengniu Dairy Company Limited, Yili Group, Nestle S.A., Saputo, Schreiber Foods Inc., Sodiaal Group and Volac International Ltd. and others.
Product launches, collaborations with ministries and dairy councils, mergers, acquisitions, collaborations with tech companies, and advanced research and development are the primary strategies used by the aforementioned dairy ingredients companies.
Furthermore, certain players also participate in organizing exhibitions and trade fairs to extend product outreach to newer customers and industry end-users.

“The dairy ingredients market is driven by their taste, flavor, and health benefits. Rising awareness about the dairy products along with increased use in the food and beverage industry in the form of spreadable, enhancers, and emulsifiers are key factors for market expansion,” Nandini Roy Choudhury, Client Partner at Future Market Insights

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Key Segments

By Product Type:

Proteins
Milk Powder
Milk Fat Concentrates
Casein and Caseinates
Lactose & Its Derivatives
Whey
Other Types

By Form Type:

Powder
Liquid

By Application:

Bakery & Confectionery
Dairy Products
Sports Nutrition Products
Infant Formulas
Cosmetics
Pharmaceuticals
Other Applications

By Distribution Channel:

E-Commerce
Specialty Retailers
Supermarket & Hypermarket
Others

By Region:

North America (U.S & Canada)
Latin America (Brazil, Mexico, Argentina & Rest of Latin America)
Europe (Germany, Italy, France, U.K., Spain & Rest of Europe)
South Asia & Pacific (India, Thailand, Indonesia, Malaysia, Australia & New Zealand and Rest of South Asia & Pacific)
East Asia (China, Japan & South Korea)
Middle East & Africa (GCC, South Africa, Israel & Rest of MEA)

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.

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: