Market Research Blog – Page 3354 – New Product Development

Non-Dairy Creamer Market Set to Double to US$ 3.4 Billion by 2033, Driven by Health-Conscious Consumers and Rising Demand for Vegan Alternatives

The non-dairy creamer market is expected to increase from US$ 1,721 million in 2023 to US$ 3,414.8 million in 2033.

An increase in health consciousness, disposable money, and awareness of chemical-free products all have a beneficial impact on market growth.

Non-dairy creams made from hydrogenated vegetable oils are mostly composed of creamy non-dairy fats. For creamy non-dairy applications, manufacturers in the creamy non-dairy fat business employ premium fat substitutes manufactured from hydrogenated vegetable oils. The availability of a wide range of greases with varying melting points allows for a variety of fat substitutes depending on the application.

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The food sector is the primary user of hydrogenated vegetable oil, followed by the cosmetics and personal care industry and the pharmaceutical business. With the growing vegan population and the prevalence of lactose tolerance worldwide, the non-dairy creamer market is expanding globally. Because about 70% of the world’s population is lactose intolerant, demand for fatty components of plant origin is likely to rise during the projection period.

Lactose is the primary element in conventional dairy creamer, which is used in the creation of beverages. The non-dairy creamer market counterpart is lactose-free and regarded as a substitute for dairy products such as milk or fresh cream. Non-dairy creamers can be used as a staple component of the diet for those who are lactose intolerant or for vegetarians who choose plant-based goods over animal-derived ones. Vegetable oil is the primary ingredient in non-dairy creamers. They have a similar flavor and feel to dairy products.

Key Points from the Non-dairy Creamer Market

The market is expected to surpass US$ 3,414.8 million by 2033.
The primary industry factors, such as expanding demand for allergen-free and plant-based additives, younger millennial customers, and increasing veganism, are likely to boost market expansion.
Non-dairy creamer market is expected to record a CAGR of 7% during the forecast period 2023 to 2033.
East Asia dominated the non-dairy creamer market.

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Key Development in the Non-dairy Creamer Market

Highlander Partners, LP, a private equity investment firm focused on mid-market firms, said today that a PCI-based subsidiary of Highlander Partners has purchased ACH Food Companies, Inc. (ACH), a subsidiary of Associated British Foods, Plc. Non-dairy emulsified powders are found in foods like butter, cloth, and cream.
March 2022 – Coffee Mate releases a new Drumstick Ice Cream Coffee Creamer. The new creamer tastes like ice cream with hints of milk chocolate, peanuts, and waffle cone.
August 2022 – Dunkin’ Donuts debuted their latest coffee creamer product, Pumpkin Munchkin creamer. The new flavor is pumpkin-forward, with undertones of sweet doughnut glaze and natural spices. The items are sold in 32oz bottles at supermarkets and local convenience stores around the United States.
January 2021 – Coffee Mate, a Nestle SA, debuted three creamer M&Ms milk chocolate, oatmeal crème pie-combination of flavors, cinnamon, brown sugar, and oatmeal cookie creamers.

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Key Segment

Form:

Powder
Liquid

Nature:

Organic
Conventional

Flavor:

Original/Unflavoured
French Vanilla
Chocolate
Coconut
Hazelnut
Other Flavors

Type:

Original
Light
Fat-free

Base:

Plant-based Milk
- Almond
- Coconut
- Others (Soy, Hemp, Cashew)
Vegetable Oil

End Use:

HoReCa/Foodservice
Food and Beverage Processing
- Food Premixes
- Soups and Sauces
- Beverages Mixes
  - Coffee Mixes
  - Tea Mixes
- Bakery Products and Ice Creams
- RTD Beverages
- Infant Food
- Prepared and Packaged Food
- Household/Retail

Packaging:

Retail
- Sachets
- Bags
- Pouches
- Canisters
- Bottles
Plastic Jars
Bulk

Distribution Channel:

Direct
Indirect
- Hypermarkets/Supermarkets
- Modern Grocery Stores
- Speciality Stores
- Online Retail

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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Vegan Cheese Market to Reach US$ 8.06 Billion by 2033, Growing Opportunities in Plant-Based Food Industry

The vegan cheese market size is projected to be valued at US$ 3,313.98 million in 2023 and is expected to rise to US$ 8,064.01 million by 2033. The sales of vegan cheese are expected to record a CAGR of 6.5% during the forecast period.

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

Vegan cheese often contains less fat and is gluten-free than normal cheese. One of the main factors driving the market expansion is the huge increase in the consumption of Ready-To-Eat (RTE) packaged vegan food and drinks as well as gluten-free and plant-based diets.

Players are introducing product variants that have undergone minimal processing and are high in healthy fats, fiber, and micronutrients. Also, they are forming partnerships with fast food chains to provide vegan cheese-based pizza, cream cheese, and cheesecake. The market will be fueled by the increasing prevalence of lactose intolerance and the simpler accessibility of dairy-free products. Along with the growing trend of purchasing vegan cheese through online distribution channels, which offer simple product availability, comprehensive catalogs, and expedited shipping options, this is assisting in boosting the market. In the upcoming years, it is anticipated that protracted promotional campaigns and celebrity endorsements by product manufacturers on social media platforms are likely to have a positive impact on vegan cheese sales.

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Key Takeaways from the Vegan Cheese market

From 2023 to 2033, Asia Pacific is anticipated to experience to record a significant CAGR of 14.1%. In the approaching years, it is anticipated that the rising demand for plant-based bakery and confectionary products in Asia Pacific would drive the sale of goods, including vegan cheese.
The product segment containing ricotta is anticipated to grow at the fastest rate, 14.0%, between 2022 and 2030. Demand for the product has been fueled by its increasing use in Italian cuisine like manicotti, lasagna, roll-ups, high tea, and ravioli.
The soy source market is anticipated to grow at the quickest rate, 13.1%, between 2022 and 2030. It is a cheap alternative to dairy and contains an ideal mix of fatty acids and amino acids.
From 2022 to 2030, the B2B end-use segment is anticipated to experience the fastest CAGR of 13.0%. As flexitarian and vegan diets are becoming more and more popular, many restaurants, fast food chains, and casual dining establishments have started adding plant-based items and drinks to their menus.

Market is majorly controlled by few selected firms

The vegan cheese market has expanded quickly during the past ten years. Due to the presence of numerous companies, the vegan cheese industry is fragmented. These participants employ a variety of methods, such as mergers and acquisitions, partnerships, and collaborations, which directly contribute to the market growth for vegan cheese globally.

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Latest Developments

India’s Goodmylk announced in March 2022 that it has purchased the nutrition company PRO2FIT. The acquisition of PRO2FIT denotes development in the expanding alternative protein market in India. In their efforts to make plant-based food and nutrition available to everyone, both brands saw synergies.

Upfield Group, a manufacturer of plant-based butter and spreads, said in January 2020 that it had acquired Arivia, a company that makes dairy-free cheese.

Through this tactical acquisition, Arivia and its VIOLIFE brand will join other well-known brands including Flora, Rama, Country Crock, Blue Band, and Proactiv in the Upfield Group of companies.

Key Segments Covered in the Vegan Cheese Market Report

Product Type:

Mozzarella
Parmesan
Cheddar
Cream Cheese
Ricotta
Others

Form:

Shreds
Blocks and Wedges
Slices

Source:

Almond Milk
Soy Milk
Coconut Milk
Cashew Milk
Others

End-Use:

Food Processing
Baked Goods
Sauces, Dips and Dressings
Snacks
Processed and Packed Foods
Ready Meals
Dairy and Desserts
Food Service/HoReCa (Hotels, Restaurant, Cafes)
Household/Retail

Nature:

Conventional
Organic

Sales Channel:

Direct Sales
Indirect Sales
Hypermarkets/Supermarkets
Convenience Stores
Specialty Retail Stores
Traditional Grocery Stores
Online Retailers

By Region

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

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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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Hybrid Rice Seeds Market Poised for 7.7% CAGR Growth to Reach US$ 10.8 Billion by 2033, Opportunities in Staple Food Industry

The hybrid rice seeds market is predicted to be worth US$ 5.1 billion in 2023, and rise to US$ 10.8 billion by 2033. Initially, the global market was expanding at a CAGR of 7% between 2017 and 2022.

Many abiotic and biotic factors present a barrier to sustainable rice agriculture. As a result, stress tolerance has been included into high-yielding varieties, which has shown to be a very successful method for creating these varieties that can handle such circumstances. This is boosting the hybrid rice seeds market and reducing the losses brought on by stress-related issues.

The development of hybrid rice seeds that are resistant to microbial infestations and produce larger yields in a relatively short amount of time than inbred types is another focus for hybrid seed producers, which is expected to fuel expansion.

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Since rice is a staple food for around 60% of the world’s population, the demand for it is rising along with the worldwide population. In order to meet this rising demand and supply rice to various end users, rice yield per unit area has also increased.

To develop new hybrid rice seeds varieties and encourage farmers to use them, the government and numerous research institutions are working together.

Key Takeaways

By 2033, China is likely to dominate the hybrid rice seeds market, with a size of US$ 4.3 billion.
The hybrid rice seeds market was significantly expanding, with a size of US$ 4.8 billion in 2022.
There is a market opportunity of US$ 5.7 billion in absolute terms, which is driven by the change in consumption patterns.
The market in the United States is anticipated to expand at an adequate CAGR of 3.7% by 2033.
By 2033, Canada is likely to expand in the hybrid rice seeds market, with a size of US$ 75.6 million.
By 2033, the hybrid rice seeds sector is likely to increase in Japan, with a size of US$ 176.2 million.
The Indian market is anticipated to expand at an adequate CAGR of 8.8% by 2033.
Based on grain size, the long grains led the hybrid rice seeds market with a CAGR of 6.2% by 2033.
Based on duration, up to 110 days segment continues to dominate the sector during the forecast period, with a CAGR of 8.4%

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Key Strategies in the Industry

Due to the rising need for bigger yields and better-quality produce, hybrid rice seed technology has experienced substantial expansion in the last few years. In order to gain market share in the fiercely competitive market for hybrid rice seeds, businesses must offer better variety, affordable prices, and aggressive marketing.

To remain ahead of the competition, businesses are developing new types and technologies. To reach more clients, they are also concentrating on marketing and advertising initiatives. In order to expand their reach, businesses are also concentrating on enhancing their distribution networks and opening new stores.

Recent Developments

Ricetec Inc. purchased the assets of Ganga Kaveri Seeds in 2019 to expand its product line and draw in more clients.
As of May 2019, Syngenta has released the SYN98 3-line hybrid rice variety in Vietnam. The Syngenta Nam Dinh Research Center has been given approval by the Ministry of Agriculture and Rural Development to start trial production of this variety in December 2017.

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Key Segments

By Grain Size:

Long Grains
Medium-sized Grains
Short Grains

By Durability:

Up to 110 Days
111 to 140 Days
140+ Days

By Region:

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

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Plant-Based Fish Feed Market Surges to US$ 12.2 Billion by 2032 with 6% CAGR, Growing Opportunities in Sustainable Aquaculture

According to a recent report by Future Market Insights, market research and competitive intelligence provider, sales of Plant-Based Fish Feed are estimated to reach a value of US$ 12.2 Bn by 2032, surging at 6.0% CAGR through the decade.

Fish feeds are pellets or granules that give fish nutrients and help them reach their maximum potential. Soybean, canola oil, lipids from algae sources, and amino acid additions are used to make plant-based fish feed. All of these plant sources are high in protein and are easily digestible. As a result, the market for plant-based fish feed has enormous growth potential.

Cottonseed meal, distillers dried grain with soluble, sunflower meal, canola meal, cornmeal, wheat bran, and rice bran make up the plant-based fish feed market. Fish feed is used for both commercial and domestic purposes. Granules, pellets, powder, and flakes are some of the forms it comes in. The aquafeed industry’s growing desire for organic and natural ingredients could help the plant-based fish feed market develop even faster.

North America, Europe, and East Asia are currently the most important regional markets for vegetable and fish feed producers, and this trend is projected to continue in the coming decade. This tendency, according to the research, is attributed to increased expenditure in R&D efforts in these areas.

In addition to innovation, businesses are pursuing inorganic growth tactics such as mergers and acquisitions to strengthen their market position. Due to the burgeoning middle class and increased disposable income in nations like China, South Korea, Vietnam, and Japan, East Asia has become one of the most profitable marketplaces.

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Key takeaways from market study

The aquaculture industry accounts for more than 50% of the global edible seafood supply.
The plant-based fish feed market is predicted to be dominated by Latin America and the Middle East and Africa (MEA).
In terms of investment in the creation of creative and revolutionary plant-based fish feed, East Asia is at the forefront.
Due to features such as omega 3 content, protein content, and enhanced digestibility, plant-based fish and seafood have seen a surge in popularity in recent years.
The Vegetable Fish Food Syndicate’s fate is largely determined by modernization and the introduction of novel technology.
The enhanced digestibility and excellent protein content of the soybeans and cornmeal have shown significant potential in recent years and have become highly popular.
The Asia-Pacific region will show growth in the vegetable fish feed market from 2020 to 2027 due to increased demand for fish oil and fish-based household and commercial products.

“Due to environmental dangers, proliferating demand for fish feed with reduced environmental impact, and developing aquaculture industry with enormous demand for sustainable fish feed, the plant-based fish feed market will see expansive growth potential. Long-term benefits have been demonstrated for plant-based fish feed made from canola oil and soybean. As a result, the market for plant-based fish feed will see potential growth”, –Nandini Roy Choudhury, Client Partner at Future Market Insights

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Competitive landscape

As demand for plant-based fish feeds is expected to increase over the next decade, existing companies are eagerly awaiting innovation and R&D to establish a strong position in the market. . Several companies around the world are investing heavily in adopting new technologies to find affordable alternatives to fish and shellfish foods to meet the growing demand for seafood. Investment in the development of new plant-based feeds is expected to grow as investors and stakeholders focus on the favorable opportunities and potential of the fish-based market.

Some of the major companies in the market are market Cargill Incorporated., Skretting, Alltech, BioMar Group, Nutreco N.V., Ridley Corporation Limited, ADM, Hanpel Tech Co. LTD, and Adisseo among others.

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Key Segment

By Product Type:

Soybean Meal
Cottonseed Meal
Corn Meal
Distillers Dried Grains with Soluble
Wheat Bran
Rice Bran
Other Product Types (Canola Meal, Sunflower Meal, etc.)

By Nature:

Organic
Conventional

By End-Use Application:

Commercial
Household

By Form:

Pellet
Powder
Granule
Flake

By Sales Channel:

Direct Sales
Indirect Sales
- Modern Trade
- Convenience Stores
- Specialty Stores
- Online Retailers
- Other Sales Channels

By Region:

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

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Citrus Powder Market Growth Fueled by Rising Orange Production and Collaborative Initiatives, Predicts FMI Study

According to a new study by FMI, sales of citrus powder is expected to reach ~US$ 6 Bn in 2019, primarily influenced by the recent reforms coming into fore in the global food sector. In recent years, increasing focus towards cleaning and sanitization has been compelling manufacturers to identify and leverage white spaces in the application of citrus powder, especially in personal hygiene products. Moreover, the consumer proclivity for using chemical-free products with natural ingredients will continue to provide a fillip to sales of citrus powder in 2019 and beyond.

As demand for ‘natural ingredients’ and ‘clean labels’ continue to gain prominence, citrus powder manufacturers are continuously exploring untapped potential of products. FMI’s study finds that significant growth of F&B and cosmetics industry will continue to work to the advantage of the market players –Nandini Roy Choudhury, Client Partner at Future Market Insights

The idea of adding citrus powder to different food and beverages products is helping consumers to discover and identify new and refreshing flavors. Apart, from the taste, many consumers are using citrus powder for its nutritional and health benefits. Moreover, the addition of citrus powder to salads, chicken and soups has been a common practice being followed by East Asian consumers for its flavor enhancing and medicinal properties. It further helps elevate the nutritional property of food.

Citrus powder has been garnering significant traction as a viable ingredient in dietary supplements, as it is enriched with vitamin C, phosphorus, minerals and various other health boosting nutrition. Studies have also shown that citrus powder help support heart health, prevent kidney stones, and in weight management.

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Opportunities Abound for Market Players in Developing Countries

Being the largest exporters of citrus fruits, the citrus powder market in countries such as Spain, South Africa, China, the U.S. and Mexico has reached its maturity.

According to FMI study, growth opportunities for the citrus powder market players are picking pace in South Asia and Oceania, owing to profound growth of end-use industries including food & beverages, cosmetics & personal care, and others. A sprung in the number of working population, greater awareness of natural ingredients, rapid inclination towards personal grooming, and increased disposable income are further likely to aid in the expansion of citrus powder market in developing countries in South Asia.

FMI’s business intelligence also underlines groundbreaking insights into the competitive scenario of citrus powder market along with highlights of the manufacturers’ differential strategies. Key players in the citrus powder market will continue to align with global sustainability drive by including ‘organic’ offerings in their existing portfolios, which is likely to help them enhance customer confidence. For instance, LemonConcentrate S.L. – a world class company that belongs to the fruit concentrate sector, – is facing the growing competition of their peers by opening an organic way of farming along with the conventional one. The company is also introducing recyclable packaging materials and providing versatile packaging on the basis of different quantities of citrus powder. Significant improvements in packaging is further likely to increase the shelf life of citrus powder, which has been a major concern among the manufacturers.

In May 2019, Givaudan SA, the world’s largest company in flavor and fragrance industries has expanded their business by acquiring Golden Frog Company which is a Vietnamese flavor company, to increase its regional and local presence. Following the acquisition, the company introduced a range exciting flavors, and the result is likely to lead to expanded customer base.

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CITRUS POWDER MARKET TAXONOMY

The global citrus powder market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

By Nature

Organic
Conventional

By Source

Orange
Grapefruit
Lemons & Lime
Tangerines/Mandarins

By Drying Method

Freeze dried
Drum dried
Spray dried
Air-Dried

By End-Use

Dietary Supplements
Cosmetics & Personal Care
- Soaps
- Body scrubs
- Sanitization
- Makeup Removers
- Cleaning
Food & beverage industry
- Bakery
- Dairy products
- Ice creams
- Ready meals
- Alcoholic Drinks
- Seasonings
Juices

By Sales Channel

B2B
B2C
- Modern Trade
- Medical Stores
- Specialty Stores
- Online Channels
- Convenient Stores

By Region

North America
Latin America
Europe
Japan
APEJ
MEA

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Global Rib Fracture Repair Systems Market Poised for Growth 5.2% CAGR by 2032 Driven by Technological Advancements and Aging Population | FMI

The global rib fracture repair systems market demand is anticipated to be valued at US$ 420.3 Million in 2022, and is expected to reach US$ 699.5 million by 2032, growing at a CAGR of 5.2% according to a recent industry report. This growth is attributed to the increasing vulnerability of the human body to rib fractures due to various factors and the rising demand for effective treatment options.

Rib fractures, often caused by traumatic injuries or accidents, can be incredibly painful and significantly impact a person’s ability to breathe and move. The rib fracture repair systems market offers a variety of solutions, including implants and surgical procedures, to stabilize and support fractured ribs, facilitating a quicker and more comfortable healing process for patients.

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Innovation Drives Market Growth:

The market has witnessed significant advancements in recent years. Traditional methods like chest binders and pain management are being supplemented by innovative, patient-centric solutions. Specialized implants and minimally invasive surgical procedures tailored to individual needs are becoming increasingly prevalent.

Key Growth Factors:

Several factors are fueling the growth of the rib fracture repair systems market:

Aging Population: As the global population ages, the risk of falls and other accidents leading to rib fractures increases.
Rise in Traumatic Injuries: The growing incidence of sports injuries, traffic accidents, and other traumas contributes to the demand for rib fracture repair systems.
Greater Awareness: Increased awareness of the importance of timely and effective rib fracture treatment is driving patients to seek out advanced solutions.
Minimally Invasive Techniques: The growing preference for minimally invasive procedures, which offer reduced patient discomfort and faster recovery times, is a significant trend.

A Brighter Future for Patients:

The rib fracture repair systems market plays a vital role in improving the quality of life for patients suffering from rib fractures. Continuous advancements in technology and treatment options promise a brighter future for those seeking a swift and effective recovery from these painful injuries.

Key Components Of The Rib Fracture Repair Systems Market Include:

Rib Plates and Screws: These are often used in surgical procedures to stabilize fractured ribs. Plates and screws help align and hold the broken ribs in place, allowing them to heal correctly.
Pain Management: Pain management is an integral part of treating rib fractures. Medications and pain management techniques are used to provide relief to patients during the healing process.
Chest Binders and Braces: These external devices are used to support and immobilize the chest area, which can aid in pain relief and rib fracture healing.
Surgical Tools and Instruments: Surgeons use specialized tools and instruments for rib fracture repair procedures, including rib spreaders and cutting instruments.
Chest Tube Systems: In cases where rib fractures are associated with lung injuries or pneumothorax (collapsed lung), chest tube systems may be used to remove air or fluid from the chest cavity.

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Key Companies Profiled:

Johnson & Johnson Services Inc. (DePuy Synthes)
SIG Medical
Zimmer Biomet
Acumed LLC
Jeil Medical Corporation
Waston Medical Co. Ltd.
NEURO FRANCE Implants
KLS Martin Group
Stryker Corporation
Olympus Corporation

Key Segments Profiled in the Rib Fracture Repair Systems Industry Survey:

By Product Type:

U Plate
Anterior Plate

By End User:

Hospitals
Ambulatory Surgical Centers
Specialty Clinics

By Region:

North America
Latin America
Europe Rib
Asia Pacific
Middle East & Africa

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T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Banana Flour Market Poised for Growth, Expected to Reach US$ 892.8 Million by 2034 with 3.6% CAGR, Growing Opportunities in Gluten-Free and Health-Focused Alternatives

The banana flour market is set for significant expansion, with an anticipated valuation of US$ 628.7 million by 2024. The market displays a considerable trend, featuring a CAGR of 3.6%, expected to endure until 2034. The consistent growth forecasts indicate that the global market is poised to achieve an impressive valuation of US$ 892.8 million by 2034.

The growing awareness of the health advantages of banana flour is propelling the worldwide banana flour business forward as it is high in fiber, gluten-free, minerals, and vitamins like vitamin E, zinc, manganese, magnesium, and potassium.

It helps to regulate blood sugar levels and also aids in the reduction of cholesterol, the improvement of heart health, and the stimulation of neuron and muscle activity.

Banana, being a climacteric fruit stores the majority of its carbs as starch. It is unique among fruits in that the majority of its starch is resistant. Resistant starch is prebiotic that boosts the number of good bacteria in the human intestines.

As a result, the resistant starch ferments, creating optimal circumstances for a wide range of beneficial bacteria and increasing the bacterial populations. It also suppresses pathogenic bacteria 5 (infect the host human with infectious diseases) at the same time, acting as a boon for human health.

These features are attracting a growing number of health-conscious customers, therefore, shooting up the growth of the banana flour market across the globe.

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Key Takeaways from Market Study

The banana flour market is expected to expand at CAGRs of 3.1% and 2.8% in Latin America and the Middle East & Africa, respectively, through 2032.
Market share of Asia Pacific is 18.2% in 2022. Every year, a considerable amount of bananas are produced in the Asia Pacific region, particularly in India, resulting in the expansion of the banana flour business in the region.
The North American banana flour market is currently pegged at 50,883 Metric tons. Banana flour has seen a boom in demand in the region, as the product is widely utilized in the manufacture of infant food.
In Africa, banana flour is also seen as a less expensive alternative to wheat flour. It is a healthy alternative to ordinary flour since it promotes the growth of beneficial bacteria in the gut and considerably aids in weight loss, therefore, MEA stands at a market value of USD 275.4 Mn in 2022.

“Manufacturers of banana flours can step into product expansion in the dietary fibers market which is growing at a high rate due to rising health consciousness as the FDA recently classified resistant starch (RS) derived from green banana flour as a dietary fiber.”, –Nandini Roy Choudhury, Client Partner at Future Market Insights

Competitive Landscape

Key manufacturers of banana flours are not only expanding their gluten-free offerings portfolio but, the majority of them concentrate on successful marketing and promotional techniques. Furthermore, for a number of organizations in the banana flour industry, mergers, and acquisitions aimed at global expansion will remain a major strategy.

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Key Segments of Banana Flour Industry Survey

By Process:

Sun-dried
Freeze-dried
Spray-dried
Others

By Application:

Beverages
Pet Food and Feed Industry
Household
Food Industry
Bakery & Snacks
Infant Foods
Filling and Dressings
Soups and Sauces
Others

By End-user:

Water Treatment
Food and Beverage Processing
Pharmaceutical and Medical
Automotive
Air Purification
Others

By Source:

Organic
Conventional

By Sales Channel:

Direct Sales
Indirect Sales
- Modern Trade
- Convenience Store
- Specialty Store
- E-Retailers
- Others

By Region:

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

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Growing Demand for Minimally Invasive Procedures Drives Global CO2 Injector Market to reach US$ 21,520.3 thousand by 2033

The global CO2 injector market is poised for significant growth, driven by the increasing demand for minimally invasive procedures, according to a new report by Future Market Insights (FMI). The market is projected to increase from US$ 11,756.2 thousand in 2023, and is expected to reach US$ 21,520.3 thousand by 2033, reflecting a compound annual growth rate (CAGR) of 6.2% from 2023 to 2033.

The surge in minimally invasive procedures is a key factor propelling the CO2 injector market. These procedures offer numerous benefits over traditional open surgeries, including reduced pain, shorter hospital stays, and faster recovery times. CO2 injectors are widely used in laparoscopy, arthroscopy, and hysteroscopy, facilitating these minimally invasive procedures.

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“The growing prevalence of chronic diseases like obesity, diabetes, and cancer is another major driver for the CO2 injector market,” says the report author at Future Market Insights. “These conditions often require minimally invasive procedures for diagnosis and treatment, and CO2 injectors provide a safe and effective method for delivering carbon dioxide gas into the body during these procedures.”

Furthermore, advancements in CO2 injector design and manufacturing are contributing to market expansion. The development of automated CO2 injection systems enhances precision and efficiency during procedures, leading to wider adoption by hospitals and clinics.

Key Trends in the CO2 Injector Market:

Increasing demand for minimally invasive procedures: Minimally invasive procedures are gaining popularity due to their several advantages over traditional open surgeries. CO2 injectors are widely used in these procedures, which is driving the growth of the market.
Rising investments in healthcare infrastructure: Governments and private investors are increasingly investing in healthcare infrastructure. This is leading to the establishment of new hospitals and clinics, which is creating new opportunities for CO2 injector manufacturers.
Technological advancements: Technological advancements in CO2 injector design and manufacturing are making the procedures more precise and efficient. This is leading to increased adoption of CO2 injectors in hospitals and clinics.

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Key Takeaways: CO2 Injector Market from 2023 to 2033

The global CO2 injector market is projected to grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2033, reaching a value of US$ 21,520.3 thousand by the end of the forecast period.
The increasing demand for minimally invasive procedures, growing prevalence of chronic diseases, and rising investments in healthcare infrastructure are driving the growth of the market.
North America is expected to remain the dominant market for CO2 injectors during the forecast period, followed by Europe and Asia Pacific.
The automated CO2 injection system segment is projected to retain its dominance in the market throughout the forecast period.

Regional Outlook:

North America is expected to remain the largest market for CO2 injectors, followed by Europe and Asia Pacific. The high demand for minimally invasive procedures and the presence of major CO2 injector manufacturers in the region are driving the growth of the North American market.

The European market is also expected to witness significant growth during the forecast period. This is attributed to the increasing prevalence of chronic diseases and the rising investments in healthcare infrastructure in the region.

The Asia Pacific market is also expected to grow at a rapid pace during the forecast period. This is due to the growing population, the increasing prevalence of chronic diseases, and the rising demand for minimally invasive procedures in the region.

Key Companies Profiled in CO2 Injector Market:

Angiodroid
Malek Medical GmbH
Optimed

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CO2 Injector Market Outlook by Category:

By Product:

Automated
Semi-automated

By Application:

Peripheral Angiography
Interventional Radiology
Vascular Surgery
Interventional Cardiology

By End User:

Hospitals
Independent Cath Laboratories

By Region:

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

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Nandini Singh Sawlani

Phycocyanin Market Poised to Reach US$ 1.487 Billion by 2033, Growing Opportunities in Natural Food Coloring and Nutritional Supplements

The anticipated value of the worldwide phycocyanin market in 2022 was US$ 754.40 million. The market is anticipated to reach US$ 1,487.7 million, growing at a CAGR of 7% from 2023 to 2033 due to shifting customer preferences toward natural food-grade substances.

The benefits of phycocyanin, a substance produced from spirulina, in terms of nutrition and color are driving tremendous expansion in the food and beverage industry. The pigment is mostly used as a natural coloring addition in the food industry. Its use as an additive for food coloring has received permission from the U.S. Food and Drug Administration (FDA).

The organically produced pigment can be used as a nutraceutical component since it has antioxidant activity both in vitro as well as vivo. Many countries forbid the import and export of items that include artificial food colors, which is assisting the phycocyanin industry’s growth.

Phytocyanin is one among the few naturally generated blue hues acknowledged in Europe, Asia and North America. Its use as coatings for pharmaceuticals and nutritional supplements was also permitted a few years ago. Spirulina extract is exempted from certification by the U.S. FDA Code of Federal Regulations since it has been approved as a color additive. It is produced by sifting spirulina platensis dry biomass and separating it with water.

Increasing the patent manufacturing process of these substances to ensure a stable supply of pigments, strengthening distribution channels, and increasing consumer awareness of the various benefits of natural components, particularly in emerging markets, may further contribute to worldwide expansion.

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Key Takeaways from the Market Study

Global phycocyanin market is expected to be valued at US$ 785 million by 2023
From 2018 to 2022, the market demand expanded at a CAGR of 2.7%
From 2023 to 2033, the United States market for phycocyanin is projected to account for about 20% of global market share.
By form type, the powder segment was estimated to acquire 76.9% share in 2022.

On the basis of grade, the E18 food grade segment acquired a 56.9% market share in 2022.

“The phycocyanin products are gaining traction due to its natural origin, health benefits and application across a wide range of sectors,” says Nandini Roy Choudhury, Client Partner at Future Market Insights

Competitive Landscape

Prominent players in the phycocyanin market are:

Cyanotech Corp
DDW Inc.
DIC Corporation
Dongtai City Spirulina Bio-Engineering Co., Ltd.
Fuqing King Dnarmsa Spirulina Co., Ltd.
GNT Holding B.V.
Sensient Technologies Corp.
Parry Nutraceuticals Limited
Döhler GmbH
Naturex S.A.
Naturalin Bio-Resources Co., Ltd
Far East Bio-Tec Co., Ltd.
Fraken Biochem Co., Ltd.

Some key developments of the leading companies in this market are:

A cooperative study into the impacts of the naturally occurring blue pigment phycocyanin obtained from DIC-cultivated Spirulina will be launched in 2022, according to an announcement made by DIC Corporation, Leave a Nest Co., Ltd and Innoqua Inc.
Innoqua’s core “environmental transfer technology,” which enables the recreation of particular marine ecosystems in enclosed environments (aquariums), will be used by DIC and Innoqua to raise corals and evaluate the efficacy of phycocyanin in preventing coral bleaching with the help of Leave a Nest.
The research will examine whether phycocyanin’s antioxidant qualities and its ability to block particular wavelengths of light when dispersed in seawater are effective in preventing coral bleaching, in addition to whether corals that absorb phycocyanin produce red fluorescence and do so in order to reduce the stress caused by solar radiation.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global phycocyanin market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the phycocyanin market, the market is segmented on the basis of phycocyanin by nature (organic and conventional), by form (powder and liquid), by grade (E18, E25, E.0), by application (food & beverage, cosmetics & personal care, nutraceuticals, animal feed, aquaculture) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

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Lung Cancer Therapeutics Market Expected to Surge at 13.4% CAGR by 2032 Driven by Innovation and Rising Demand

The global lung cancer therapeutics market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 13.4% from 2022 to 2032.

This surge is attributed to a confluence of factors, including:

Rising Regulatory Approvals and Cutting-Edge Therapies: Increased acceptance of innovative treatments, particularly in Europe, is fueling market expansion.
Growing Lung Cancer Prevalence: The alarming rise in lung disease, especially in developing countries like China and India, is driving demand for lung cancer treatments, with chemotherapy remaining a dominant therapy.
Heightened Awareness and Improved Diagnostics: Increased public awareness of lung cancer, coupled with advancements in diagnostic technology and treatment options, is leading to more diagnoses and a greater need for effective therapies.
Research and Development Investment: Growing investment in research and innovation by major players is propelling the development of novel lung cancer treatments, further fueling market growth. This focus on research is largely a response to the escalating incidence of lung cancer.

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Market Driven by Multiple Factors:

Several key drivers are propelling the global lung cancer therapeutics market:

Soaring Lung Cancer Rates: The alarming increase in lung cancer diagnoses is a primary driver of market growth.
Highly Effective Drugs: The availability of increasingly effective medications is providing more treatment options for patients.
Aging Population: The growing geriatric population is a significant factor, as this age group is more susceptible to lung cancer.
Unhealthy Lifestyle Prevalence: Rising rates of smoking and other unhealthy habits are contributing to the growing demand for lung cancer therapies.
Personalized Medicine: The increasing focus on customized treatment plans is driving demand for targeted therapies.
Nanomedicine Advancements: The development of nanomedicine for lung cancer treatment holds immense promise for the future.
Regulatory Approvals: The growing number of approvals for new lung cancer therapies is creating a more robust market landscape.

Challenges and Opportunities:

Despite the positive outlook, the market faces some challenges, including the high cost of specialized drugs and advanced immunotherapies, particularly in developed countries like Japan.

However, the overall market outlook for lung cancer therapeutics remains positive. The combined forces of continuous research, development of new and effective therapies, and increasing awareness present significant opportunities for market growth in the coming years.

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Competitive Landscape:

Key players in the global lung cancer therapeutics market are rapidly adopting various strategies in order to expand their product portfolio along with increasing their geographical presence for demand for lung cancer therapeutics. Some of the key strategies used by players in the global lung cancer therapeutics market include product innovation, partnerships and alliances, and mergers.

More Insights into the Lung Cancer Therapeutics Market:

On the basis of geographical segment, the North American region is anticipated to dominate the global lung cancer therapeutics market over the assessment period. According to the reports launched by Lung Disease Research Funding, approximately 75,000 people in the U.S. die because of lung injury every year.

The United States is considered one of the largest markets for NSCLC owing to the high incidence rate rise in the aging population. Furthermore, the advent of technologically new treatment therapies such as targeted drug therapy, and stereotactic are aiding the growth of the lung cancer therapeutics market share.

The European region is anticipated to account for the highest demand for lung cancer therapeutics after North America. Additionally, Asia-Pacific countries such as India and China, and South East Asia are the emerging regions for the global lung cancer therapeutics market due to the high prevalence of this disease coupled with increasing healthcare awareness.

Key companies profiled:

Astrazeneca Plc,
Sanofi-Aventis.,
GlaxoSmitKline,
Eli Lilly and Company,
Boehringer Ingelheim GmbH,
Pfizer Inc.,
Hoffman-La Roche

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Key Segments:

By Cancer Cell Type:

Small Lung Cancer
Non-Small Lung Cancer (NSLC)

By Molecule Type:

Biologics
Small Molecules

By Mode of Administration:

Injectable
Oral

By Type:

By Region:

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

About Future Market Insights (FMI)

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Nandini Singh Sawlani