Market Research Blog – Page 3373 – New Product Development

Astaxanthin Market Set to Reach US$ 3.6 Billion by 2033, Driven by Expanding Applications and Robust CAGR of 14.9%

The global astaxanthin market is predicted to register a robust CAGR of 14.9% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 910.3 million in 2023 to US$ 3,636.8 million by 2033 end.

Demand for astaxanthin is projected to rise on account of its multiple applications in nutraceuticals, pharmaceuticals, feed industries, etc. Moreover, the distinct color and properties of astaxanthin are also propelling its demand in food coloring, commercial aquacultures, and other applications.

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In a landscape of evolving technologies, the Astaxanthin market is poised for expansion, driven by innovative production methods such as ALGAMO’s micromodules and photobioreactors. ALGAMO’s focus on minimizing water wastage and electricity consumption showcases a commitment to sustainability in astaxanthin production. Ongoing research leveraging diverse technologies to enhance economic and technical feasibility is anticipated to positively impact market dynamics.

Key players are gearing up for strategic initiatives, launching novel platforms and products, especially in emerging economies, to tap into growth opportunities. A notable example is Näck, a Swedish-Indian startup introducing a digital wellness platform and Immunity Boost, featuring natural astaxanthin and vegan protein powder. These endeavors align with the increasing consumer demand for sophisticated and health-oriented food choices, driving sustainability in the food industry.

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Top Highlights:

United States Dominance: The U.S. market is poised to contribute significantly, targeting a market revenue of US$ 838.70 million by 2033, with a robust CAGR of 15.8%.
UK Growth: The United Kingdom is anticipated to emerge as the second-leading market, generating US$ 296.8 million in revenue by 2033, with a CAGR of 15%.
European Influence: Germany is forecasted to reach US$ 266.60 million by 2033, expanding at a CAGR of 13.7%. Spain is set to yield US$ 85.60 million, exhibiting a CAGR of 12.2% over the forecast period.
China’s Prominence: The Chinese market is expected to play a pivotal role, projecting a revenue of US$ 161.50 million by 2033, growing at a steady CAGR of 12.8%.

New Developments as Observed by FMI

Beijing Gingko Group unveiled in April 2022 that it is expanding its astaxanthin farm capacity for the second time in the Pristine region over the last two years. This development is geared to enhance the company’s production capacity.
Lehmann&Voss&Co., which is a prominent nutraceutical distributor in the United Kingdom, launched a new AstaPure natural astaxanthin CWD in April 2021. The product plays a crucial role in cardiovascular disorders treatment.

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Key Segments

By Form:

Powder
Liquid

By Grade:

> 98%
95-97%
< 94%

By Source :

Natural
- Crustaceans
- Microalgae
- Paracoccus carotinifaciens
- Yeast/ Fungi
Synthetic

By Production Technology:

Chemical Synthesis
Natural Extraction

By Application:

Aquaculture
Dietary Supplements
General Wellbeing
Eye Health
Brain Health
Immune & Digestive Health
Bone & Joint Health
Heart Health
Other Supplements (Weight Loss, Allergies, etc.)
Food & Beverages
Personal Care & Cosmetics
Skin Care
Hair Care
Pet Food
Eye Health
Brain Health
Immune & Digestive Health
Bone & Joint Health
Animal Feed
Pharmaceuticals
Others

About Future Market Insights (FMI)

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

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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
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Insect Feed Market Set to Soar to US$ 8.1 Million by 2033, Fueled by Rising Demand for Nutrient-Rich Feed and Protein Alternatives

The total worth of the global insect feed market could be around US$ 1,561 million in 2023. Over the forecast years from 2023 to 2033, the worldwide demand for insect feed is expected to grow annually at a rate of 17.9%. By the end of 2033, the net worth of the market is projected to reach US$ 8,124 million.

The Asia-Pacific market has driven the marketplace, but Europe is expected to surpass Asia-Pacific during the anticipated period, owing to rising demand for protein-rich livestock feed in the region as well as official approval for black soldier fly farming. In the past few years, rising demand for protein-rich diets has boosted the share of the market for unconventional protein sources like insects by 38%

Insect feed requirement is being driven by evolving agricultural practices, expanding population, money, and a growing market requirement for nutritious animal food. As a form of insect feed, larvae and worms are used. Demand for both subcategories is expected to rise in response to a growing demand for animal food

As the need for high-quality animal protein grows, so does the necessity for insect feed for chickens. Edible insects may just have arrived at a point where they may compete with products like soy meal and fishmeal, which are key elements in animal feed and aquafeed compositions because of their growing popularity

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The aquafeed industry has always been on the search for potential sources of nutrition. As a result, mealworms and fly larvae are becoming more popular. The demand for alternative and economical sources of protein, like eatable insects for animal feed is increasing as fisheries output grows. Insect feed is projected to become more popular in chicken and pork nourishment as well as in aquaculture

Insect protein is used to make processed foods that are packaged and ready to consume. Protein bars and powdered protein shake, as well as several foods, include insect protein. Evidently, the switch in insect protein utilisation for food products will open new growth opportunities over the anticipated timeframe

Key Takeaways from Market Study

The insect feed market is expected to expand at CAGRs of 11% and 16% in Europe and America, respectively, through 2032.
Market share of animal feed from poultry holds 21% of the total market in 2021.
The North American market total sales are currently pegged at USD 870 Mn.
The growing desire for protein-rich nutrition has boosted the share of the market of substitute sources of protein such as insects.
The COVID-19 epidemic has created various issues for the food industry. When compared to traditional animal feed supplies, the insect feed industry currently faces problems such as mass production. The key element expected to fuel growth in the global insect feed market is the expansion of the aquaculture and poultry sectors.

“Manufacturers of insect feed components may make considerable profits by focusing on the protein source business, “the insect nutrition sector would also act as a potential market for feeding livestock, which is linked to increased demand for protein products worldwide.” says a Future Market Insights analyst.

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Competitive Landscape

Insect feed manufacturers are putting a lot of effort into research and development to improve the quality of their products.

Thai Union Group- The company debuted insect protein goods in Thailand in March 2020, fueling the industry with a USD 6 million investment in a brand called Flying Spark. The firm claims to provide an alternative protein supplement based on cutting-edge, high-quality processes.

Protix BV- In March 2020, the firm announced that Rabo Corporate will become a stakeholder, claiming that this would help it expand its insect protein production capabilities in the Netherlands.

Beta Hatch- Cavallo Ventures and Brighton Jones confirmed in May 2020 that the firm has obtained USD 4 million through investment. The company intends to construct a production facility in North America where it will begin commercial mass production of mealworms.

ValuSects project- A project was launched in May 2021 with the goal of enhancing edible insect processing and manufacturing technologies. Europe provided money for this research in the amount of 3 million euros.

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Insect Feed Market Segmentation

By Insect Type:

Fly Larvae
Silkworms
Cicadas
Other Insects

By Application:

Aquaculture
Pig Nutrition
Poultry Nutrition
Diary Nutrition
Other Applications

By Region:

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

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Growing Demand and Trends of CBD Snacks Market Set to Reach USD 2.5 Billion by 2032 | FMI Projection

The Global CBD Snacks Market Set to Reach USD 712.5 Million by 2022 with a Projected CAGR of 13.2% from 2022 to 2032. North America Leads, Contributes Over 30% of Revenue in 2021.

CBD snacks are a recent development in the CBD industry. CBD snacks are made with CBD oil, which is known for its therapeutic properties. People who use CBD oil to treat medical conditions say that it helps them feel better. CBD snacks are a great way to get the benefits of CBD oil without having to take a pill or swallow a liquid.

Consumers’ increasing preference for natural organic products over pharmaceuticals is one of the major factors driving the growth of the CBD-infused snacks market. The growing demand for cannabidiol (CBD) for the production of snacks and wellness products due to its healing properties is driving the CBD-infused snacks market growth.

The CBD-infused snacks market is being driven by the growing popularity of CBD-infused snacks due to their therapeutic properties, as well as changes in consumer food habits. Furthermore, a growing number of social media influencers promoting the product’s benefits, mergers and acquisitions among key players, R&D activities, a change in lifestyle, and an increase in disposable income all have a positive impact on the CBD-infused snacks market.

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List Of Key Players Covered in CBD Snacks Market are:

ZBD
LivityFoods LLC
VELOBAR
Naturebox
Weller
Evo Hemp
CBD American Shaman
Dixie Brands Inc.
Premium Jane
Pure Kana
Just CBD.

Key Takeaways from the CBD Snacks Market Study

Consumers are likely to adopt healthier lifestyles which have resulted in higher food and beverage intake with potential health benefits. Consumers are now becoming more aware of their diets, owing to which they invest on a holistic approach to health and wellbeing that covers almost every aspect of life. In addition, consumers are increasingly taking part in fitness activities that improve their well-being. As a result, the demand for CBD-infused snacks is steadily gaining momentum globally due to an rise in population awareness of health and fitness, along with an growing number of highly upscale consumers interested in eating safe and nutritious foods.
According to Go Clean Label, Clean label refers to food products that contain natural, and simple ingredients that are easy to identify, with no artificial additives, according to Go Clean Label. Consumers looking for simpler foods with fewer ingredients have made the food manufacturers to exclude artificial ingredients and chemical modifiers from the food products. Most of the consumers believe that food products with natural ingredients offering better nutrition, environment sustainability, and are ethically sourced can be qualified as clean label. Clearly, the trend of clean label with the content of THC free or THC less than 0.3% is playing an important role in the promotion of CBD Snacks Market.

“CBD, with its many interconnected products and services, is growing to unprecedented levels. Touched for its wide-ranging health benefits without any of the psychoactive impacts of the THC, CBD infused food is attaining strong global market acceptance.,” said an analyst at FMI.

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E-commerce sales gain rapid momentum

As more customers use mobile devices to order foodstuffs and groceries, e-commerce continues to gain rapid momentum around the world. Rapid digitization has resulted in heavy e-commerce penetration in APEJ countries, with China leading with a high market share. CBD snacks have a long shelf-life and can be conveniently packed as desired, attracting high customer base. Various e-commerce companies compete in the region by introducing their own food labels to expand their reach on the market. The sales of CBD products processed via e-commerce are expected to gain rapid traction over the coming years and are expected to drive market growth over the forecast period.

Who is winning?

Multiple leading manufacturers of CBD snacks are focusing on mergers and acquisition to expand its business footprints and to increase their production capacity. Leading players of CBD snacks are investing in research and development to produce innovative products using CBD snacks.

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CBD Snacks Market by Category

By Type, CBD Snacks Market is Segmented as:

Gummies
Bars
Cookies

By Distribution Channel, CBD Snacks Market is Segmented as:

Hypermarkets/Supermarkets
Convenience Stores
Discount Stores
Pharmacy/Drug Stores
Food and Drink Specialty Stores
Independent Small Groceries
E Retailers

By Region, CBD Snacks Market is Segmented as:

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

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Sleep Gummy Market Set to Skyrocket with 7.3% CAGR by 2034, Driven by Health-Conscious Consumers

According to Future Market Insights (FMI), the global sleep gummy market is expected to grow from US$ 447.1 million in 2024 to US$ 908.2 million by 2034. It is estimated to witness a 7.3% CAGR in the assessment period 2024 to 2034.

The growing number of sleep disorders among consumers is driving the sleep gummy market’s expansion. The need to treat illnesses that induce sleep deprivation, such as mental disorders, physical ailments & disturbances, and environmental factors, is further propelling the sleep gummy market.

The demand for sleep gummies is expected to rise as more people have insomnia due to high levels of stress. The growing inclination toward natural health goods and the rising popularity of functional food items like gummies all contribute to the market expansion.

The sleep gummy market is further expanding due to the increasing popularity of gummies among consumers due to their taste and health advantages. The introduction of sleep gummies as an extra snack and aid in sustaining good sleep without a prescription fuels the industry’s growth.

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Key Takeaways from the Report:

The market is expected to reach a valuation of US$ 908.2 million by 2034.
Global demand for sleep gummies is set to surge at 7.3% CAGR over the forecast period.
Europe is projected to hold a value share of 23.9% in the global market by 2034.
The United States sleep gummy market is projected to reach a valuation of US$ 163.5 million by 2034.
India is estimated to witness a value CAGR of 6.1% during the projection period.

“Introducing flavors and textures for limited-edition and seasonal gummies is expected to generate buzz and boost sales at particular periods of the year or for special events. When consumers buy sleep gummies, brands are set to provide personalized choices that let them select the tastes and textures they want. This results in a distinctive and customized experience.” –Nandini Roy Choudhury, Client Partner at Future Market Insights

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Competitive Landscape

Leading companies in the market are Olly Sleep, Nature Made Sleep, Vitafusion SleepWell, Zarbee’s Naturals Sleep, and Natrol Melatonin. Key players are developing new sleep gummy formulations by researching and incorporating effective sleep-enhancing ingredients. Innovations often include creating tailored products for specific sleep concerns or demographics.

Effective marketing campaigns, educational content, and expert or influencer endorsements help companies build strong brand identities and trust among consumers. Players also adhere to strict quality control measures, ensuring their sleep gummies meet regulatory standards and consistently deliver high quality and safety.

For instance,

In January 2023, Vicks launched ‘ZzzQuil Natura gummies,’ which is a sleep supplement.
In November 2022, Natrol introduced MelatoninMax, a sleep supplement product offering 10 milligrams of melatonin in a single gummy.

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Sleep Gummy Market Segmentation by Category

By Primary Ingredient:

Melatonin
Herbal Extracts
Magnesium
L-theanine
Vitamin and Minerals
Dietary Fiber
Prebiotics and Probiotics
Polyunsaturated and Fatty Acids
Antioxidants

By Customer Orientation:

Men
- Sleep Support
- Relaxation
- Sleep Cycle Regulation
Women
- Sleep Support
- Relaxation
- Sleep Cycle Regulation
- Skin Repair
Geriatric
- Sleep Support
- Relaxation
- Sleep Cycle Regulation

By Pack Size:

30-Count
60-Count
90-Count
120-Count or Higher

By Sales Channel:

Prescription-based
Over the Counter
- Modern Trade
- Hospital Pharmacies
- Retail Pharmacies
- Drug Store
- Online Pharmacies

By Product Claim:

Organic
Vegan
All Natural
Regular

By Region:

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

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Explosive Growth Forecasted for Chewable Energy Tablet Market Revenue to Cross US$ 1,120.6 million by 2034 to Expand at a CAGR of 8.9% | FMI

The global chewable energy tablet market value is estimated to total US$ 478.9 million in 2024. It will likely exhibit a CAGR of 8.9% throughout the forecast period, totaling a valuation of US$ 1,120.6 million by 2034.

Consumers mostly prefer orange-flavored chewable energy tablets owing to their perceived health benefits and other advantages. As per the latest analysis, the orange flavor segment will likely progress at a CAGR of 5.6% through 2034.

Several factors are predicted to fuel the growth of the chewable energy tablet industry during the assessment period. These include:

Increasing demand for convenient and portable energy sources
Growing health consciousness
Rising preference of fitness enthusiasts towards chewable energy products
Escalating demand for functional foods
Availability of chewable energy tablets in a wide range of flavors

The market for chewable energy tablets is experiencing significant growth, driven by increasing consumer demand for convenient and portable energy-boosting products. These tablets offer an alternative to traditional energy drinks, shots, or caffeine pills, providing a quick and convenient way to boost energy levels on the go.

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Chewable energy tablets are portable and easy to consume without the need for water. This is making them convenient for busy individuals, athletes, travelers, and students who need a quick energy boost anytime, anywhere.

Manufacturers offer a variety of formulations to cater to different preferences and dietary needs. Some chewable energy tablets contain caffeine derived from natural sources like green tea extract or guarana, while others may include vitamins, minerals, amino acids, or herbal extracts known for their energy-boosting properties.

As consumers become more health-conscious, there is a growing demand for energy products that provide sustained energy without the excessive sugar and calories found in many traditional energy drinks. Chewable energy tablets often contain low or no-sugar formulations, appealing to health-conscious consumers.

Companies in the chewable energy tablet market target specific consumer demographics, including athletes, students, professionals, and those leading active lifestyles. Marketing strategies focus on promoting the tablets’ benefits, such as increased focus, alertness, and endurance, to resonate with their target audience.

Chewable energy tablets are widely available in pharmacies, convenience stores, supermarkets, and online retailers, making them easily accessible to consumers. Overall, the chewable energy tablet market is expected to continue growing as consumers seek convenient and effective solutions to support their energy needs in today’s fast-paced lifestyles.

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Key Takeaways from the Chewable Energy Tablets Market Study:

The global market for chewable energy tablets is set to total US$ 1,120.6 million by 2034.
Based on ingredient type, the caffeine segment will account for a value share of 35.6% by 2034.
By flavor, the orange segment is expected to hold a dominant market share of 54.3% in 2034.
The United States market value is predicted to reach US$ 313.8 million in 2034.
Chewable energy tablet demand in Japan is projected to expand at 7.1% CAGR through 2034.

“Persistent innovation in formulation, flavor, and packaging is essential to differentiate offerings and meet evolving consumer preferences for convenience, health, and taste. Strong marketing strategies that effectively communicate product benefits, target specific consumer demographics, and build brand loyalty are crucial for capturing market share and sustaining growth in a competitive market landscape,” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Who is Winning?

A few of the leading chewable energy tablet manufacturers listed in the report include Nutra Healthcare Private Limited, Nirvana Being, Gnova Biotech Pvt.Ltd, Piping Rock, BNK Healthcare, Pharmaco Healthcare, Lift, GNC, Nature’s Bounty, NOW Foods, NutraBio, Optimum Nutrition, BPI Sports, Cellucor, and Clif Bar.

Established brands with strong market presence and brand loyalty enjoy a competitive edge. They often invest in extensive marketing campaigns, sponsorships, and endorsements to maintain visibility and attract consumers.

Newer entrants can challenge incumbents by offering innovative products and disruptive marketing strategies. Pricing plays a significant role in competitive positioning. While premium brands may command higher prices based on perceived quality or exclusivity, budget-friendly options appeal to price-sensitive consumers.

Competitors continually adjust their pricing strategies to maintain competitiveness while ensuring profitability. Access to efficient distribution networks is critical for reaching target markets and gaining market share. Companies may leverage a combination of retail channels to maximize their profits.

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Recent Development:

In 2022, Ashland introduced a new Nutrapress organic chewable base for chewable dietary supplements.

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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the chewable energy tablet industry, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034. The study provides market growth projection based on ingredient type (vitamin C, vitamin B, zinc, caffeine, calcium, magnesium, others [chloride, sodium, potassium]), flavors (raspberry, blueberry, lemon & lime, orange, others (blackberry), and sales channel (hospital pharmacies, retail pharmacies, drug stores, online pharmacies, and hypermarkets/supermarkets) across seven major regions.

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Growing Opportunities in Agricultural Activator Market: Customized Solutions and Eco-friendly Trends Drive Investment Potential

The global agricultural activator adjuvant market is poised to cross US$ 4.1 billion in 2024 and is likely to attain a valuation of US$ 6.6 billion by 2034. The agricultural activator adjuvant industry is projected to expand at a CAGR of 4.9% from 2024 to 2034.

The use of adjuvants in the agricultural industry is being impacted by the broad adoption of Integrated Pest Management (IPM) techniques. Adjuvants are essential for increasing the efficacy and environmental sustainability of IPM techniques. This trend reflects a dedication to sustainable agriculture practices and aligns with the industry’s growth towards holistic and integrated pest management methods.

Businesses that match the IPM tenets in their product offerings are likely to be in a strong position to meet the needs of a consumer base increasingly interested in environmentally and socially conscious products. The application of Internet of Things (IoT) technology in agriculture is developing a new generation of sophisticated adjuvants. These clever formulas use Internet of Things (IoT) sensors and connections to collect real-time data on various characteristics, including crop health, weather, and soil moisture.

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Adjuvants and the Internet of Things are coming together in a way that is consistent with the industry’s larger push for precision agriculture. This allows businesses to provide cutting-edge solutions that improve operational effectiveness and produce quantifiable crop yield and resource optimization results.

The increasing problems of climate variability provide a chance to create adjuvants tailored to improve crop resilience. Products that lessen the effects of environmental stresses like heat, drought, or illness establish the business as a supporter of farmers dealing with erratic weather. In addition to satisfying consumer demand for climate-resilient products, this calculated action positions the business as a leader in developing adaptable and sustainable farming methods.

Key Takeaways from the Agricultural Activator Adjuvant Market Report:

The activator adjuvant segment is predicted to develop at a 4.8% CAGR through 2034.
The herbicides application segment is expected to thrive at a 4.7% CAGR through 2034.
The market size in the United States is projected to increase at a 5.2% CAGR through 2034.
The market size in the United Kingdom is anticipated to develop at a 5.5% CAGR through 2034.
The market size in Japan is estimated to surge at a 6.1% CAGR through 2034.
The market size in South Korea is expected to thrive at a 7.3% CAGR through 2034.

“Success in the agricultural activator adjuvant business depends on knowing what customers want, being innovative, following the law, and forming smart alliances. It takes a strong commitment to sustainability, adaptability, and innovative problem-solving to navigate the ever-changing terrain and remain aligned with changing market expectations and trends.” Nandini Roy Choudhury, Client Partner at Future Market Insights

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Competitive Landscape

The agricultural activator adjuvant market is intensely competitive, with large firms like BASF and DowDuPont dominating due to their global presence and R&D capabilities. Regional players customize products to meet local demands, whereas startups pioneer innovative innovations. Collaboration, particularly in sustainable practices, fuels strategic partnerships. Market consolidation is common, emphasizing mergers and acquisitions to improve capabilities.

Recent Developments

The Brazilian Association of Agricultural Adjuvant Manufacturers (APLICA) launched in Brazil in December 2023. The group’s goal is to act as a catalyst for innovation and continuous improvement in the sector, implementing best practices in the manufacturing, use, and handling of solutions.
Leading energy provider Bharat Petroleum Corporation Ltd. recently announced the introduction of MAK ADJOL Banana in July 2023. The National Research Centre for Banana (NRCB) and MAK ADJOL Banana collaborated to produce this ground-breaking adjuvant product for the Agri Spray market.

Key Players in the Agricultural Activator Adjuvant Market

BASF SE
DowDuPont Inc.
Akzo Nobel N.V.
Croda International Plc
Evonik Industries AG
Nufarm Limited
Solvay S.A.
Brandt Consolidated, Inc.
Clariant AG
Wilbur-Ellis Company

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Agricultural Activator Adjuvant Market Segmentation

By Product:

Activator Adjuvants

- Surfactants
- Oil-based Adjuvants
Utility Adjuvants
- Compatibility Agents
- Drift Control Agents
- Buffering Agents
- Water Conditioning Agents
- Others

By Application:

Herbicides
Insecticides
Fungicides
Others

By Source:

Petroleum-based
Bio-based

By Formulation:

Oil-based
Others

CropType:

Organic

- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
Conventional
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others

By Region:

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

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Soybean Meal Market Poised to Reach US$ 157.8 Billion by 2034, Driven by Rising Demand in Animal Feed and Plant-Based Foods

Global soybean meal market sales are expected to reach US$ 98.6 billion by 2024. The market is projected to register a 4.8% CAGR and reach a valuation of US$ 157.8 billion by 2034.

Regular soybean meal feed to dairy animals such as cattle and buffalo is the key factor driving the market’s growth. Regular consumption of soybean meal helps dairy farm animals to produce milk that is more nutritious.

Soybean meal is given to ruminants and poultry for weight gain to meet the increasing demand for meat worldwide. Furthermore, soybean meal is being used as an ingredient in several goods by pharmaceutical companies, which is expected to push the market for soybean meal.

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The market is expected to witness high growth during the forecast period, with Asia Pacific being a significantly flourishing region. The increasing demand for soybean meal, especially in the animal feed and food industries, is a key factor driving the market’s growth.

Key Takeaways from the Report:

The global soybean meal market is expected to reach a valuation of US$ 157.8 billion by 2034.
The market is projected to surge at a CAGR of 4.8% over the forecast period.
The United States is projected to attain a market valuation of US$ 22.7 billion by 2024.
The feed application segment is estimated to hold a market share of 48.0% in 2024.
India is estimated to surge at a CAGR of 5.5% during the forecast period.

“The food industry uses soybean meal for both human and animal feed. The growing number of livestock that are fed soybean meal, as well as the health advantages of this food that is high in protein, are the primary factors of the surging demand for soybean meal,” – says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)

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Competitive Landscape

Key players with a wide range of expertise are directed toward research & development, environmentally friendly sourcing, and novel formulations. Leading players are prioritizing ecologically conscious methodologies, product certifications, and meeting the growing need for natural & sustainable feed ingredients. They are also focusing on quality, innovation, and catering to customer preferences to maintain their market position and take advantage of the rising demand.

Key Companies Profiled

UFAC-UK
The United Soybean Board (USB)
Satavie
SoyKitty
Afrizon Pte Ltd.
Mamta Hygiene Products Pvt Ltd
Guru Soya Foods Pvt. Ltd.
Delta Equities LLC
Prorich Agro Private Limited
The Delong Co., Inc.

For instance,

In 2023, UFAC-UK launched a new partial soybean meal replacement for dairy diets. This meal aims to increase yields, solids, and feed conversion efficiency (FCE) while lowering dependency on imported soy.
In 2022, The United Soybean Board (USB) and The Yield Lab Institute launched the Soy Innovation Challenge to increase the value of soybean meal and explore new uses.

Get More Valuable Insights

Future Market Insights (FMI) has released an objective assessment of the global market, presenting past demand data from 2019 to 2023 and projecting forecast statistics for the 2024 to 2034 period.

The study provides compelling insights into the soybean meal market segment based on product type (full-fat soybean meal, defatted soybean meal, and high-protein types), application (feed, fertilizers, food additives, and others), nature (organic and conventional), and region.

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Soybean Meal Market Segmentation by Category

By Product Type:

Full-fat Soybean Meal
Defatted Soybean Meal
High-protein Types

By Nature:

Organic
Conventional

By Application:

Feed

- Aquaculture
- Livestock
- Pet Food
Fertilizer
Food Additive
Others

By Region:

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

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Pre-mixed/RTD Alcoholic Drink Market Set to Reach US$ 56.6 Billion by 2034, Fueled by Convenience and Innovative Flavors

The pre-mixed/RTD alcohol drink market is expected to be valued at US$ 35,321.40 million in 2024. The market is expected to progress at a moderate rate over the forecast period, with a CAGR of 4.8%. By 2034, the value of the market is forecast to be worth US$ 56,652.70 million.

A significant shift in consumer lifestyle and growing demand for beverage options are moving manufacturers toward an innovative approach. In addition to the taste, the effort required to mix and make traditional drinks to one’s liking is also influencing the consumers’ decision. In steps, pre-mixed/RTD alcoholic drinks reduce the burden of making drinks on the part of consumers and afford a more convenient drinking experience.

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Ready-to-drink alcoholic beverages make available to consumers a bevy of options. Variants like low-calorie and low-alcohol concentration drinks make sure the market’s consumer base is wide. Experimentation with varied flavors and textures is also helping premixed alcoholic drinks expand their consumer base. However, a rigid bias for traditional drinks among consumers is likely to hinder market growth.

“The rise in socializing and weekend drinking culture, cocktail culture has also emerged as people are looking to mix it up when it comes to their alcohol intake. Pre-mixed cocktails provide a readymade solution to consumers, not having to head out to bars or make the cocktail at home. Thus, pre-mixed popular cocktails like margaritas represent a significant opportunity for the market,”– Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Takeaways from the Pre-mixed/RTD Alcohol Drink Market

The pre-mixed/RTD alcohol drink market is anticipated to be US$ 35,321.40 million in value in 2024.
Spirit-based beverages are the popular form of pre-mixed alcoholic drinks. For 2024, spirit-based premixed drinks are expected to contribute to 42.0% of the market share.
Pre-mixed/RTD alcohol drinks are predominantly sold through stores. Store-based selling is expected to account for a 67.8% share of the market in 2024.
Germany is one of the promising countries in the market. The CAGR for Germany over the forecast period is anticipated to be 11.8%.
India is poised to be a lucrative Asian country for the pre-mixed drinks market. For the 2024 to 2034 period, the CAGR for India is pegged at 9.8%.
The market is expected to register a CAGR of 8.3% in the United States over the forecast period.

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Competition Analysis of the Pre-mixed/RTD Alcohol Drink Market

Players in the non-alcoholic ready-to-drink beverages sector are vying for market share, often through partnering with reputable alcohol brands. Extensive testing and research are being conducted to develop innovative products that ensure the market players stay caught up in the dynamic industry landscape. Some of the prominent companies in the market include Diageo plc., Asahi Breweries, Ltd., Suntory Holdings Limited, and Halewood International Limited.

Recent Developments in the Pre-mixed/RTD Alcohol Drink Market

In December 2023, Coca-Cola made its entry into the Indian pre-mixed/RTD alcoholic drinks market with the launch of Lemon-Dou.
In October 2023, Diageo added the Ketel One vodka espresso martini, the Ketel One vodka cosmopolitan, and the Tanqueray gin negroni to its range of premixed cocktails.

Key Companies in the Pre-mixed/RTD Alcoholic Drink Market

Diageo plc.
Asahi Breweries, Ltd.
Suntory Holdings Limited
Halewood International Limited
The Brown-Forman Corporation
Bacardi Limited
Mike’s Hard Lemonade Co.
Pernod Ricard SA.
Anheuser-Busch InBev SA/NV

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Key Segmentations For Pre-mixed/RTD Alcoholic Drink Market:

By Product Type:

High Strength Premix
Malt Based
Spirit Based
Wine Based
Hard seltzer
Other Alcoholic RTDs

By Distribution Channel:

Store Based
Mass Merchandisers
Online Retail
Bars, Pubs, and Clubs
Fine Dining Restaurants
Others

By Region:

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

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Exploring the Growth Trajectory of the Snow Boots Market, Projected to Secure a Steady CAGR of 3.1% by 2033

The snow boots market is expected to be worth around US$ 1.8 billion in 2023 and is anticipated to grow to US$ 2.4 billion by 2033. Over the forecast period, the market is set to achieve a compound annual growth rate (CAGR) of 3.1%.

Factors Influencing the Market Growth:

Climate Change Impact: The rising demand for snow boots in regions experiencing increased snowfall due to climate changes is a significant driver propelling market growth.
Waterproof Features: Increasing consumer awareness about the importance of waterproof snow boots is creating new market opportunities as buyers prioritize protection from moisture and snow.
Enhanced Quality: Manufacturers are enhancing the quality of snow boots to enable users to navigate snowy terrain with ease and safety, further driving market expansion.
Stylish Designs: The introduction of stylish and visually appealing fur snow boots by manufacturers is attracting consumers and creating avenues for market growth by catering to fashion-conscious buyers.
Technological Advancements: The integration of advanced automation technology in the footwear industry is increasing the production capacity of snow boots, leading to significant revenue growth in the market.

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The key players are increasing sales volume through distribution channels, including online retailers, multi-brand stores, specialty stores and supermarkets. Moreover, the growing disposable income, latest trends, new product launches and changing lifestyles are advancing the market size. The popularity of outdoor activities such as ice skating, trekking and others bolsters market opportunities.

How Does the United States lead the Global Market?

The United States is leading the global market size by registering a CAGR of 2.7%, capturing a valuation of US$ 486.3 million through 2033. The increasing consumer awareness to protect their feet from travelling in snowy areas is fueling the market growth. The growing popularity of waterproof snow boots and the production of standardized leather snow boots are the factors increasing the market share further.

Key Takeaways:

The snow boots market is expected to have a valuation of US$ 2.4 billion by 2033.
With a CAGR of 3.1%, the global market is increasing during the forecast period
The market in the United States is anticipated to expand at a CAGR of 2.7% through 2033
With a CAGR of 2.6%, the United Kingdom snow boots market significantly uplifts during the forecast period.
Japan market is expected to secure a CAGR of 4.2% over the forecast period.
China market is capturing a CAGR of 3.7% by 2033.

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Who is winning?

The number of present vendors in the global market consolidates the market. These vendors focus on consumers’ requirements and launch new innovative products that satisfy their needs. The key players adopt advanced machine technology to increase production and maximize profits. The prominent players boost the market through marketing methodologies, including mergers, partnerships, collaborations, acquisitions and product launches.

Key Players Operating in the Market are:

Adidas AG
Asics Corporation
Bata Limited
Columbia Sportswear Company
Crocs, Inc.
DC Shoe Company
Deckers Outdoor Corporation
Deichmann SE
Honeywell International Inc.
Jack Wolfskin GmbH & Co
Kamik Company
Michael Kors Holdings Ltd.
New Balance Athletics, Inc.
Nike, Inc.
Polartec, LLC
Puma SE
Skechers U.S.A., Inc.
The Aldo Group, Inc.
VF Corporation
Wolverine World Wide, Inc.
Baffin
Santana Canada
Hackberry Inc.
The Timberla Company
W-D Apparel Company, LLC.
Others

Recent Developments in the Global Snow Boots Market:

In March 2020, Tata International Ltd announced its clothing and footwear sales fell by 67.4%, equipped with stores and shops.

In 2021, the luxury brand Canada Goose announced the expansion of its portfolio by launching its new winter boots. The company enhance its business through customer base products through several marketing strategies.

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Snow Boots Market by Category

By Product Type:

Outdoor Snow Boot
Sports Snow Boot

By Demographic:

Men
Women
Kids

By Sales Channel:

Sport Stores
Specialty Stores
Multi-brand Stores
Independent Small Retailers
Online Retailers
Other Sales Channels

By Region:

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

Author

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

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

About Future Market Insights (FMI)

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

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Vegan Collagen Market Set to Surge to US$ 357.7 Million by 2034, Fueled by Growing Demand for Ethical and Sustainable Beauty & Health Products

According to Future Market Insights (FMI) analysis, the Global Vegan Collagen Market is expected to reach US$ 150.1 million in 2024. The market is projected to expand at a CAGR of 9.1%, reaching US$ 357.7 million by 2034.

A primary driver of the vegan collagen market is the growing inclination of consumers toward functional and naturally produced components. Vegan collagen is becoming increasingly popular as people seek ethical and ecological options. This is especially applicable in the health and cosmetic market.

The development of several forms of vegan collagen, including plant-based collagen peptides and fermentation techniques, has further propelled the market’s expansion. Multiple industries are incorporating vegan collagen into their products and services to gain traction.

Vegan collagen products are becoming popular as consumers seek plant-based collagen substitutes rather than animal collagen. The market also benefits from the increased awareness and adoption of vegan & cruelty-free lifestyles.

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Applications of vegan collagen have grown over time in several industries, including food, pharmaceuticals, nutraceuticals, cosmetics, personal care, and more. In the food sector, it is used in functional food and dietary supplements to enhance the body’s nutritional deficiency and skin health.

With the increasing demand for vegan collagen in cosmetic goods, the cosmetic market makes a substantial contribution to the market’s growth. The market provides a range of product types to meet the needs of different industries and consumers, such as liquid solutions, serums, gummies, capsules, and powders. The market offers growth opportunities for international expansion in unexplored markets and the development of innovative plant-based collagen sources.

Key Takeaways from the Report-

The global vegan collagen market is expected to reach a valuation of US$ 357.7 million by 2034.
The market is expected to surge at a CAGR of 9.1% over the forecast period.
The powder form is estimated to hold a market share of 75.4% in 2024.
Germany is estimated to have a value CAGR of 10.2% during the forecast period.
Japan is projected to surge at a CAGR of 7.5% through 2034.

“The global vegan collagen market is driven by increasing consumer preference for functional and naturally sourced ingredients in cosmetic & health supplement products. Developing several forms of vegan collagen and growing awareness & adoption of vegan and cruelty-free lifestyles are set to further fuel the market.” – says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).

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Competitive Landscape: Leading Players and Recent Developments in Vegan Collagen Market

Following are the leading players operating in the market. Companies are improving the quality of their products and access to wider market by pursuing acquisitions and mergers. This is because pooling resources, experience, and clientele can open doors to fresh talent, manufacturing sites, distribution channels, and technology.

Revive Collagen
Golde
Pai Skincare
Unived
SMPNutra
Olena Health
OZiva
SENIORITY.IN
Rejuvenated
Raw Beauty Lab
NUTRICORE BIOSCIENCES PVT. LTD
HealthKart
Your Super
PlantFusion
Nutricore Biosciences Private Limited
Other Players

Launching new products can assist market players in staying competitive and accommodating the changing demands of their customer base. This allows leading companies to increase their market share while attracting new customers and retaining their existing base.

For instance,

In 2022, Revive Collagen launched the world’s first clinically proven liquid vegan collagen supplement, which is claimed to mimic human type 1 collagen.
In 2023, Geltor introduced NuColl™, a new vegan alternative to animal-derived collagen for global hair care applications designed to improve hair smoothness, frizz, and volume control.

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Get More Valuable Insights

Future Market Insights (FMI) has released an objective assessment of the global market, presenting past demand data from 2019 to 2022 and projecting forecast statistics for the 2024 to 2034 period.

The study provides compelling insights into based vegan collagen market segment based on source (fruits, vegetables, algae and others), form (powder and liquid), application (nutraceuticals, pharmaceuticals, food industry and cosmetics), and region

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