Composite insulators, the lightweight champions of power transmission lines, are rapidly changing the landscape of electricity infrastructure. These innovative alternatives to traditional porcelain insulators offer a multitude of advantages, making them a compelling choice for modern power grids. Let’s delve into the current state of the composite insulator market, explore its exciting future potential, and uncover the opportunities it presents.
The global composite insulator market is experiencing significant growth, driven by several key factors:
Superior Performance: Composite insulators offer superior electrical performance compared to porcelain counterparts, with higher flashover voltage and improved resistance to pollution and contamination.
Lightweight Design: The lighter weight of composite insulators simplifies transportation, installation, and maintenance, reducing overall costs.
Enhanced Safety: Their non-brittle nature minimizes the risk of shattering during impact or seismic activity, improving safety.
Increased Demand for Power Transmission: The growing global demand for electricity necessitates the expansion and upgrade of power transmission infrastructure, creating a demand for high-performance insulators.
Benefits of Composite Insulators:
Improved Efficiency: Lower weight translates to reduced tower loading, allowing for the construction of more efficient transmission lines.
Reduced Maintenance: Composite insulators require less frequent maintenance compared to porcelain insulators due to their superior weather resistance.
Environmental Advantages: The manufacturing process of composite insulators is generally considered more eco-friendly than traditional porcelain production.
Cost-Effectiveness: While the initial cost might be higher, the long-term benefits in terms of maintenance, efficiency, and safety can lead to lower overall costs.
The future of composite insulators is bright, with exciting opportunities on the horizon:
Advancements in Material Science: Development of new composite materials with improved mechanical strength, fire resistance, and even lighter weight will further enhance their competitiveness.
Integration with Smart Grid Technologies: Composite insulators with built-in sensors could provide valuable data for real-time monitoring of grid health and performance.
Focus on Sustainability: Manufacturers will likely focus on developing even more eco-friendly materials and production processes for composite insulators.
Standardization and Regulations: Continued development of international standards and regulations will ensure the quality and reliability of composite insulators for global adoption.
A recently published study by FMI expects the global wagyu beef market to augment at a 4.8% CAGR from 2023 to 2033. By the end of the said assessment period, a valuation of US$ 40 Billion is expected for the market. Consumer eating habits are evolving as individuals grow more self-aware and health-conscious, willing to spend more money on high-quality food products containing necessary nutrients. Furthermore, expanding population and consumer disposable income are major factors boosting the wagyu beef industry.
Aside from its great softness and richer flavor, wagyu beef is becoming increasingly popular among customers due to a number of health advantages. Wagyu beef is recognized as a healthy choice in a well-balanced diet. Wagyu beef has the most omega-3 fatty acids and the largest amount of mono-unsaturated lipids. This aids in the prevention of Alzheimer’s, heart disease, depression, arthritis, and high blood pressure.
Wagyu steak is commonly seen in five-star restaurants and represents the fine-dining lifestyle. The foodservice sector has lately risen at a phenomenal rate as a result of continual advancements and menu customization for customers. Because of the increased demand for nutritional and high-quality meals, the hotel and foodservice companies have had to adapt their offers.
Furthermore, corporations seeking larger profits are engaging in marketing activities, which is assisting in the development of a wagyu beef market platform. Consumers are increasingly willing to spend money on luxury holidays and meal services in order to obtain higher-quality food goods. Manufacturers are being compelled to implement an Omni channel distribution strategy in order to boost income as the e-commerce business expands at a rapid pace.
Consumers are spending more time on the internet and doing more online purchasing. Customers choose online businesses because they provide faster delivery choices and a diverse selection of items at cheap rates. The increased use of the internet, particularly in industrialized nations such as North America and Europe, has pushed players to expand their online presence. To increase their digital visibility, the leading companies interact with other famous e-commerce websites.
Because Japan is the greatest production and consumer of various forms of wagyu beef, notably full blood and wagyu, the Asia-Pacific region now leads the wagyu beef industry. In Japan, wagyu is consumed on a regular basis by nearly 80% of the population. As the food service industry grows, the Japanese invest heavily in promotional initiatives to achieve high reach and value sales. Australia, the United States, and Canada are predicted to develop substantially throughout the projection period due to their standing as the world’s leading exporters of wagyu beef.
Key Takeaways from the Market Study
FMI projects the global wagyu beef market to expand at a 4.8% value CAGR by 2033.
The global wagyu beef market is estimated at a market value of US$ 25 Billion in 2023.
The global wagyu beef market is expected to garner a market value of US$ 40 Billion
As per Future Market Insights, the Asia Pacific is expected to be the most lucrative market for wagyu beef during the assessment period 2023-2033.
Australian Agricultural Co Ltd, Agri Beef Co., and Starzen Co. Ltd., are some prominent wagyu beef manufacturers
As per Future Market Insights, the North America is expected to grow at a CAGR of 4.3% during the assessment period 2023-2033.
As per Future Market Insights, the Europe is expected to grow at a CAGR of 4% during the assessment period 2023-2033.
The fullblood wagyu segment is expected to market share for wagyu beef in the forecast period 2023-2033
“During the projected period, the expanding inventory of wagyu beef in Japan is expected to boost the wagyu beef market. Increased production of Wagyu beef can close the supply-demand imbalance and boost consumption, driving the market throughout the projection period” Ssays an analyst at FMI
Key players in the wagyu beef market are Australian Agricultural Co Ltd, Agri Beef Co., and Starzen Co. Ltd.
Recent Developments:
In June 2022, Matilda 159 Domain, a restaurant in the United States, launched a limited-time Wagyu item on its menu called Blackmore Wagyu tomahawk steak. This limited-time offer helps to generate favourable word of mouth among consumers and pique people’s curiosity in trying these things.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global wagyu beef market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of Type (Fullblood, Purebred and Crossbred), End use (Food Service Channels and Retail Channel), across five major regions (North America, Europe, Asia Pacific, South America and Middle East & Africa).
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.
According to a recent FMI report, the global fructo-oligosaccharides market size is anticipated to cross a valuation of US$ 4,919.50 Mn by the end of 2033. It is projected to grow at a CAGR of approximately 6% between 2023 and 2033.
Fructo-oligosaccharides are short-chain carbohydrates that occur naturally in many fruits and vegetables. They are also sometimes added to processed foods as a sweetener or dietary fiber. The demand for fructo-oligosaccharides is increasing due to their various health benefits such as promoting gut health and improving mineral absorption. There are two types of fructo-oligosaccharides, namely, inulin and oligofructose.
Rising awareness about the health benefits of fructo-oligosaccharides is expected to drive growth in the global market. Demand for prebiotic ingredients is increasing across the globe owing to the growing popularity of functional foods and beverages.
Moreover, the need for fortifying and nutritional food additives is anticipated to surge at a fast pace in the next ten years, thereby pushing sales of fructo-oligosaccharides. Many food and beverage manufacturers are also utilizing fortification of nutritional additives such as minerals, vitamins, fibers, and omega-3 fatty acids in their final product offerings. To increase the nutritional content in food items, these companies are likely to adopt fructo-oligosaccharides.
Apart from the aforementioned factors, fructo-oligosaccharides help in promoting the growth of healthy bacteria in the gut. They also help to regulate blood sugar levels and improve digestion. Many restaurants and cafes are set to use these low-calorie sweeteners across the globe to replace sugar in various recipes.
Key Takeaways from the Fructo-Oligosaccharides Market Report
The market for fructo-oligosaccharides in North America is expected to register a 38% CAGR between 2023 and 2033.
The fructo-oligosaccharides market size is projected to be valued at US$ 3,167.80 Mn by 2023.
The global market for fructo-oligosaccharides is expected to rise at a CAGR of 6% during the forecast period.
The global market for fructo-oligosaccharides is expected to surpass US$ 4,919.50 Mn by the end of 2033.
The U.S., China, Canada, Germany, and Mexico are the major countries driving demand for fructo-oligosaccharides.
Some of the key players in the fructo-oligosaccharides market are Beghin-Meiji, Baolingbao, CJ CheilJedang, Beneo, Ingredion, Cosucra, Quantum Hi-Tech, Meiji Food Materia, Tata, and Sensus. North America currently holds the largest market share, and this region is expected to continue to expand during the projection period.
This can mainly be attributed to the region’s growing population and rising disposable income levels. Furthermore, the North America fructo-oligosaccharides market is expected to increase at a fast pace in the next ten years due to the presence of a favorable legal and regulatory environment.
Get Valuable Insights into Fructo-Oligosaccharides Market
FMI, in its new offering, provides an unbiased analysis of the fructo-oligosaccharides market presenting historical demand data (2017-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for fructo-oligosaccharides market based on form (solid, liquid), by source (sucrose, inulin), by application (infant formulation, food and beverages, animal feed, dietary supplements, pharmaceuticals).
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.
According to a recent report by FMI, the global postbiotic pet food market is expected to grow at a CAGR of 6%. The market is estimated to surge from a valuation of nearly US$ 856.40 Mn in 2023 to US$ 1,231.58 Mn by the end of 2033.
The postbiotic pet food market is expected to grow significantly in the next ten years. This is due to the increasing awareness of various benefits of postbiotics for pets. Postbiotics are live microorganisms that are beneficial to the health of animals. They help to improve digestion, immunity, and skin health.
In recent years, the pet food industry has seen a shift towards more natural, holistic, and sustainable products. This trend is mainly set to be driven by growing awareness of the health and environmental benefits of plant-based diets, as well as various ethical concerns revolving around animal agriculture.
One of the fastest-growing segments in the pet food industry is postbiotic foods. Postbiotic foods are made with live bacteria that have been fermented to break down carbohydrates and proteins into easily digestible nutrients. This type of food is thought to be closer to what dogs and cats would eat in the wild, and it has been shown to improve gut health and digestion.
Moreover, a postbiotic is a good bacterium that is found in some fermented foods. These good bacteria help to keep the digestive system healthy and improve immune function. Postbiotic pet food is made with these good bacteria, which can help to improve the pet’s health.
The beneficial effects of postbiotics have been well-studied in humans. Some research has shown that they can help to enhance gut health, reduce inflammation, and boost immunity. There is also some evidence that they may help to reduce the risk of obesity and diabetes.
Key Takeaways from the Postbiotic Pet Food Market Report
The postbiotic pet food market exhibited steady growth at a CAGR of 4.9% during the historical period from 2017 to 2022.
The global market for postbiotic pet food is anticipated to surpass US$ 1,231.58 Mn by the end of 2033.
The U.S., China, Canada, Germany, and Mexico are the major countries driving the demand for postbiotic pet food.
The North America postbiotic pet food market is expected to register a 38% CAGR between 2023 and 2033.
The market size for postbiotic pet food is expected to reach US$ 856.40 Mn by the end of 2023.
Competition Landscape: Postbiotic Pet Food Market
Some of the key players in the global postbiotic pet food market are Royal Canin, Nestle Purina Pet Care Company, Mars Inc., Chr. Hansen (Denmark), Kinglike DSM N.V., DowDuPont, Evonik Industries, Land O’Lakes. Other players include Lallemand, Bluestar Adisseo Co., Lesaffre, Alltech, Novozymes, Calpis Co. Ltd., Schouw & Co., Unique Biotech, Pure Cultures, Kerry, and Mitsui & Co., Ltd.
North America currently holds the largest market share, and this region is expected to continue to expand during the projection period. This can mainly be attributed to the region’s growing population and rising disposable income levels. Furthermore, the region’s postbiotic pet food market is expected to grow at a rapid pace in the next ten years due to the presence of a favorable legal and regulatory environment.
Get Valuable Insights into Postbiotic Pet Food Market
FMI, in its new offering, provides an unbiased analysis of the postbiotic pet food market presenting historical demand data (2017-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for postbiotic pet food market based on product (cattle, swine, aquaculture, pet, equine, others), by form(dry, liquid, capsule, others), by region (North America, Latin America, Europe, Asia Pacific, Oceania, MEA).
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.
The North American valencene market refers to the market for the natural terpene valencene in North America. Valencene is a terpene that is commonly found in citrus fruits, such as oranges and tangerines, and is used in various applications, including as a flavor and fragrance ingredient in the food and beverage industry, as well as in personal care and cosmetic products.
According to a recent FMI report, the global valencene market is expected to grow at a CAGR of 5.2%. The market value is anticipated to increase from US$ 5.5 Mn in 2023 to US$ 9.2 Mn by 2033.
Valencene is a natural compound found in Valencia oranges and is used as a flavoring agent in the food & beverage industry. Rising demand for natural food & beverage ingredients and growing awareness about various health benefits of valencene are the major factors driving sales in the global market.
However, the high cost of valencene and stringent regulations regarding its use are restraining growth in this market to some extent. Valencene is used in various applications such as beverages, desserts, savory dishes, and others.
Moreover, valencene is considered to be the primary flavor compound in the popular citrus beverage named Orangina. It is also used as a flavoring agent in a wide variety of food and beverage products, including soft drinks, hard candies, ice creams, and chewing gums.
The valencene market is expected to grow significantly in the next ten years. The compound is already being used in a wide range of products, and its popularity is only expected to increase. There are numerous opportunities for key companies that produce valencene-based products, and the market is set to expand with the easy availability of such products.
On the other hand, there are several factors that may limit its use in food applications. One major issue is its low solubility in water. This means that it cannot be used as a direct flavoring agent in products such as soft drinks or juices.
Instead, it must be added to the product in the form of an oil or emulsion. This can increase the cost of production and may also affect the final flavor of the product. Another factor that can limit the use of valencene is its relatively high boiling point. This means that it can easily be lost during processing, thereby leading to a loss of flavor.
Key Takeaways from the Valencene Market Study:
The North America valencene market is expected to register a 38% CAGR between 2023 and 2033.
The market for valencene in China is projected to grow at a CAGR of 5.8% during the forecast period.
The demand for valencene is projected to grow at a CAGR of 6% in the U.K during the evaluation period.
The demand for valencene is projected to grow at a CAGR of 4.2% in India during the expected time frame.
The demand for valencene in Europe is expected to grow at 6.1% CAGR in 2023.
Key players in the valencene market are Citrus World, Florida Chemical Company, Procter & Gamble Chemicals, and Symrise AG, Isobionics, Evolva, Vishal Essential Oils and Chemicals, Cvista, and Panta Manufacturing Company among others.
North America currently holds the largest market share, and this region is expected to continue to expand during the projection period. This can mainly be attributed to the region’s growing population and rising disposable income levels. Furthermore, the North America valencene market is expected to grow in the next ten years due to the presence of a favorable legal and regulatory environment.
The valencene market is highly competitive with various companies vying for a share of the pie. Leading players in the market consist of large multinational corporations with significant financial resources and marketing clout. They are all well-established companies with long-standing relationships with key customers in the food and beverage industry.
Competition in the valencene market is intense, with each company trying to gain an edge over its rivals. Price is a major factor in this market, as each company tries to offer its products at a competitive price. Marketing campaigns also play a significant role in this market, as they help to create high brand awareness and drive sales. Competition in the valencene market is expected to increase in the next ten years as more companies enter the market and try to gain a foothold.
Get Valuable Insights into Valencene Market
FMI, in its new offering, provides an unbiased analysis of the valencene market presenting historical demand data (2017-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for valencene market based on purity grade (1. 80%), by form (food & beverage, personal care & home care), and by region (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).
Valencene Market Outlook by Category
By Purity Grade:
80%
By Application:
Food & Beverage
Personal Care
Home Care
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.
The global omega 3 market is valued at US$ 9.3 billion as on 2023, and is expected to hit a valuation of US$ 22.02 billion by 2033. The market is expected to grow at a CAGR of 9% during the forecast period.
The consumption of omega 3 has improved the condition of heart for a lot of patients who were having high levels of triglycerides and BP. This is expected to increase the demand for omega 3 during the forecast period.
Furthermore, the healthcare experts have also pointed out that the consumption of omega 3 rich food also avoids the formation of blood clot.
Moreover, even the dermatologists recommend the adoption of omega 3. It is because of the fact that these help in moisturizing the skin, and avoid the scenario of psoriasis. This might as well surge the sales of omega 3 during the forecast period.
Apart from that, even the nutritionists have been laying a lot of emphasis to educate people regarding the benefits of omega 3. Therefore, they have recommended certain people to make it a part of their daily diet. This might have a positive influence on the omega 3 adoption trends.
One of the most important benefits of omega 3 is that it is known to hamper the growth of cancer cells. Thus, as a way of precaution, a number of people started consuming them.
Moreover, even the manufacturers who are operating in this niche are carrying out a lot of promotional activities to convey the USP of their products. All this would certainly surge the adoption of omega 3.
Thus, from the insights provided by FMI, it can be inferred that “a number of health benefits, coupled with the intense marketing activities carried out by manufacturers are expected to surge the omega 3 market share during the forecast period.”
Key Takeaways:
The omega 3 market is projected to grow at a CAGR of 9% during the period 2023-2033.
As on 2023, the market holds a valuation of US$ 9.3 billion.
By 2033, the market is expected to hit a valuation of US$ 22.02 billion.
On the basis of regional analysis, North America is expected to be the largest omega 3 market during the forecast period. The USA is currently the largest market in North America, and is driven by a large number of heart patients.
Asia Pacific is expected to be the fastest growing market. Japan is expected to be driven by a number of patients who suffer from ischemic heart disease. South Korea is expected to be driven because of a surging number of cases pertaining to stroke and Alzhmeir’s disease.
Europe is expected to be one of the most significant markets during the forecast. Rising cases of depression and anxiety is expected to drive the Europe market.
On the basis of type, the DHA segment is expected to have the highest market share.
On the basis of source, the marine category is expected to hold the largest omega 3 market share.
On the basis of end use, the nutraceutical and supplement sector is expected to have the largest market share.
Competitive Landscape
The omega 3 market is currently witnessing a number of mergers within key players, and also with the players belonging to another niche. Apart from that, the focus is also on establishing strategic partnerships to broaden the scope of operation.
Some of the recent developments in the omega 3 market are:
In September 2022, Reckitt launched Ignite, which is the new offline innovation hub.
In February 2022, Pharmvita’s Uqora launched New Vulva Wash.
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.
The Indonesia faith-based tourism market is cast to surpass a valuation of US$ 292 Million in 2022, with market increasing at an 11.3% CAGR over the projection period.
Domestic and international religious tourism activities for Muslims are offered in Indonesia. Umrah is the most common sort of pilgrimage performed overseas. However, the number of Muslims making pilgrimages to Mecca and Medina remains significantly lower than the number of people visiting holy sites in their own country.
As a result, the chance to expand Muslim tourism in Indonesia is enormous, given that the percentage of Muslims is the highest when compared to the number of followers of other religions. In addition, public interest in following the trip is growing.
Tourism has historically been closely linked to religion, which has served as a key motive for travel since the time of early pilgrimages associated with present travels to sacred destinations.
Religious architecture, rituals, festivals, and ceremonial events are important tourist attractions for both casual tourists and devout adherents of the many religious systems represented. Religious tourism has developed into a substantial component of the tourist niche market.
Key Trends in Indonesia Faith-Based Tourism Market
In recent years, Indonesia has emerged as a dynamic hub for faith-based tourism, drawing pilgrims and travelers seeking spiritual enrichment. This flourishing niche market is characterized by several key trends that signal a promising future for the industry.
Diverse Religious Landscape: Indonesia boasts a rich tapestry of religions, including Islam, Hinduism, Buddhism, and Christianity. This diversity makes it an ideal destination for faith-based tourism, attracting pilgrims from around the world. The coexistence of various religious sites offers a unique opportunity for travelers to experience a multitude of cultural and spiritual traditions.
Digital Transformation: The advent of technology has significantly impacted the way tourists plan and embark on faith-based journeys. Online platforms and mobile applications now play a crucial role in providing information on religious sites, facilitating bookings, and fostering a sense of community among like-minded travelers. This digital transformation has made Indonesia’s faith-based tourism more accessible and organized.
Community Engagement and Sustainable Tourism: Travelers are increasingly seeking meaningful experiences that go beyond traditional sightseeing. Faith-based tourism in Indonesia has responded to this demand by promoting community engagement and sustainable practices. Pilgrims often participate in local initiatives, contributing to the preservation of religious sites and the well-being of the communities that host them.
Interfaith Dialogue and Harmony: Indonesia has become a beacon of interfaith dialogue, fostering an atmosphere of religious tolerance and harmony. Faith-based tourism serves as a catalyst for promoting understanding and respect among different religious communities. Pilgrims often engage in dialogues, cultural exchanges, and joint religious celebrations, creating an environment that transcends religious boundaries.
To increase sales, leading players in Indonesia’s faith-based tourism industry are focusing on promotional techniques and publicizing renowned tourist spots in Indonesia.
Indonesia Faith-Based Tourism Industry by Category
Tourism Type:
Day Trips & Local Gateways
Museums
Pilgrimages
Religious and Heritage Tours
Others
Booking Channel:
Phone Booking
Online Booking
In Person Booking
Tourist Type:
Domestic
International
Age Group:
15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years
Consumer Orientation:
Men
Women
Children
Tour Type:
Independent Travellers
Tour Groups
Package Travellers
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.
According to Future Market Insights (FMI), the global tube feeding formula market size is set to be valued at US$ 5,245.8 million in 2023. It is anticipated to reach US$ 10,211.7 million by 2033. The market is expected to surge at a CAGR of 6.9% from 2023 to 2033.
Emerging economies in Asia Pacific such as India, China, Thailand, and Malaysia hold enormous promise in the industry. Medical nutrition companies have the opportunity to generate significant revenues in such countries with large populations of patients and a high incidence of chronic diseases.
Growing burden of cancer in developing areas of the Asia Pacific region such as India and China was highlighted by the International Network for Cancer Treatment and Research. This is a key example of the scope of the applicability of tube feeding formulas.
“Through 2033, there will be a rising patient and healthcare provider awareness of numerous advantages of enteral feeding. It is anticipated that this kind of nutritional supplementation will be used more frequently. Manufacturers are likely to find significant growth opportunities by analyzing different demographics that are in need of tube feeding solutions, and the reason behind such requirements.” – Says a lead analyst.
Increased demand for tube feeding formulas is expected over the forecast period. This is primarily due to rising prevalence of cancer, neurological disorders, and gastrointestinal diseases related to food contamination and other issues. These formulas are essential for providing sufficient nutrition and hydration to patients suffering from these conditions.
According to the World Health Organization (WHO), cancer was responsible for around 10 million deaths worldwide in 2020. About 30% of cancer cases in low and lower-middle-income countries were caused by infections such as hepatitis and human papillomavirus (HPV). This further drives demands for nutritional drugs in the market.
In recent times, it has been difficult to get approval for human health related products. More provisions have been added by regulatory bodies to approve certain products.
It also takes a longer time for regulatory bodies to approve such products with the introduction of lengthy testing processes. It has led to only a few leading players operating in the market for medical nutrition.
Due to slow rate of approvals, new entrants have a higher risk in the market. With growing investments, key manufacturers are developing novel nutritional drugs. Research & development initiatives from market leaders are fostering unprecedented growth in this sector.
Leading companies are working to produce advanced or standard nutritional products. These aim to fulfil patients’ nutritional requirements under various clinical conditions in a healthy and adequate way.
Key Takeaways from the Tube Feeding Formula Market Report:
India tube feeding formula industry is estimated to witness a CAGR of 7.8% during the assessment period.
The global tube feeding formula industry exhibited growth at a moderate CAGR of 5.3% from 2018 to 2022.
China tube feeding formula industry is projected to exhibit decent growth at a CAGR of 8.8% from 2023 to 2033.
Based on product type, the elemental formulas segment is set to reach a valuation of US$ 1,396.5 million in 2023.
By distribution channel, the prescription-based segment is expected to flourish at 6.7% CAGR from 2023 to 2033.
Competitive Landscape
Leading tube feeding formula manufacturers are engaging in product development & innovation to meet changing needs of consumers and deliver unique product offerings. They are also focusing on geographic expansion to tap into new markets and leverage growth opportunities.
A few new entrants are diversifying their product offerings to cater to different patient populations and address various medical conditions. They are also undertaking marketing and promotional activities to raise awareness about their products and services among healthcare professionals & end users.
In September 2021, Abbott Nutrition introduced its first plant-based, tube feeding formula, called Ensure Plant-based Protein. It is made from pea protein, and is designed for people who require a vegan or vegetarian option.
Tube Feeding Formula Market Outlook by Category
By Product Type:
Standard Formulas
Elemental Formulas
Blenderized Formulas with Real Food Ingredients
Specialized Formulas
Peptide Formulas (Semi-elemental Formulas)
By Form:
Semi Solid
Liquids
Powder
By Primary Condition (C):
General Well-being
Condition Specific
By End User:
Adult
Geriatric
Pediatric
By Distribution Channel:
Prescription-based
Over-the-counter
By Region:
North America
Europe
South Asia
Latin America
Oceania
East Asia
Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
According to Future Market Insights (FMI), the whole grain salty snacks market value is expected to increase from US$ 39160.6 million in 2023 to US$ 82539.4 million by 2033. Global whole grain salty snack sales are forecast to rise at 8.5% CAGR from 2023 to 2033.
Rising awareness about the high nutritional benefits of whole grain salty snacks is a key factor that is expected to boost the global market.
In recent years, consumers have shifted their preferences towards whole grain products. This is because they have realized that these products are a healthier alternative to processed grains and are often fortified with necessary vitamins and minerals.
“Rising consumer awareness regarding nutrition-rich snacks has pushed demand for whole grain foods, especially whole grain salty snacks. Manufacturers are likely to find sizeable growth opportunities in the market by focusing on catering to evolving preferences. For example, targeted nutrition, flavors or mix varieties can help bolster sales.” – says a lead analyst at Future Market Insights (FMI)
Growing popularity of nuts mixes in whole grain salty snacks is likely to boost product demand during the assessment period. According to the European Snacks Association, consumption of salty snack products containing nuts scaled up by 76% between 2009 and 2018.
Nuts can be simply combined with seeds or supplemented with roasted and salted pulses, as in nut mixtures with maize or other whole grains. Buyers frequently source exclusive ingredients from places in America, Asia, or Africa that have the finest conditions for the specific item.
In certain circumstances, the source is highly specific; for example, quinoa is virtually entirely sourced from Peru and Bolivia. Whole-grain salty snack manufacturers are constantly looking for a change to stay competitive in the market, and nut mixes in whole-grain products have undoubtedly increased product demand among consumers.
Companies are increasing product offerings of whole grain snacks with plant-based snack benefits to grab profits. This is positively influencing market development.
Big snack companies are becoming more interested in these ingredients as a result of the rising customer demand for plant-based goods, which whole grain products can perfectly fill. They are also attempting to incorporate an increasing number of plant-based ingredients in their products to cater to shifting customer trends and preferences towards a healthy lifestyle and plant-based products.
Key Takeaways from the Global Whole Grain Salty Snacks Report:
The global whole grain salty snacks market is expected to reach a market valuation of US$ 82539.4 million by 2033.
Global sales of whole grain salty snacks are likely to soar at 8.5% CAGR during the forecast period.
By product type, breakfast cereals segment is projected to reach a valuation of US$ 21,711.5 million by 2033.
Based on source, wheat segment is forecast to expand at 7.7% CAGR through 2033.
The United States market is projected to attain a market valuation of US$ 15,975.3 million by 2033.
China whole grain salty snacks market is expected to reach a valuation of US$ 7,161.9 million by 2033.
Whole grain salty snacks demand in India is estimated to rise at 5.9% CAGR during the prediction period.
Who is Winning?
Key whole grain salty snack manufacturers profiled in the report include General Mills, Inc., Nestlé SA, The Hain Celestial Group, Inc., Mondelez International, Inc., Kellogg Co., Bob’s Red Mill Natural Foods Inc, The Quaker Oats Co. (PepsiCo), Kind LLC, Insane Grain, Eat Real Ltd + PROPER Snacks (Warp Snacks Limited), and Intersnack Group GmbH & Co. KG.
These players are constantly launching new high-nutritional products into the market to increase their sales. They are also adopting strategies such as partnerships, distribution agreements, collaborations, mergers, and acquisitions to solidify their positions. For instance,
In January 2021, a line of vegan kids’ snacks called W.K. Kellogg by Kids Bars was introduced by Kellogg’s in the United Kingdom.
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.
According to Future Market Insights (FMI), by the end of 2023, value of the lecithin market is projected to reach US$ 1,682.4 million. A significant CAGR of 7.0% is anticipated between 2023 and 2033. It is expected to positively impact the market in 2033, with a valuation of US$ 3,118.5 million.
Two dominant drivers of the global market are growing demand for green & naturally derived ingredients and increasing awareness about a healthy lifestyle.
The lecithin industry is further pushed by rising consumption of convenience foods and functional foods & beverages. Sales are also set to be propelled by rising demand for organic food products.
With consumers looking for food options promoting weight loss and addressing calorie concerns, the lecithin industry is expected to gain considerable impetus in developed countries.
“Customers from several industries are increasingly demanding lecithin made from natural sources as they become more aware of numerous uses for the substance. Given the abundance of available raw materials, firms are concentrating on exploiting a variety of resources to diversify their product lines.” – Says a lead analyst at Future Market Insights (FMI)
Functional and natural ingredients in food & beverage products offer a nutritional dimension that helps maintain a balanced lifestyle. It is anticipated to augment lecithin demand in the next ten years.
Lecithin is used in numerous food products such as confectionery, chocolate, dairy products, and salad dressing. It is found in ready-to-eat food items owing to its ability to act as an emulsification agent.
Emulsifier agents aid in binding oil & water together and keep fat separate. Lecithin is hence used in various creamy foods which have high oil content. For example, it keeps a chocolate bar held together by retaining the cocoa butter and cocoa solids attached to each other.
Lecithin is also used to add moisture, preserve foods, and provide products with a long shelf life. Versatile use of lecithin in the food industry is anticipated to accelerate its demand by 2033.
Key Takeaways from the Lecithin Market Report:
The global demand for lecithin expanded at a CAGR of 5.6% in the historical period from 2018 to 2022.
The United States lecithin industry is estimated to cross a valuation of US$ 795.0 million by 2033.
India lecithin industry is anticipated to showcase a CAGR of 10.2% in the next ten years.
The unrefined lecithin segment by product type is likely to reach a valuation of US$ 1,843.3 million in 2033.
By form, the powder segment is expected to surpass a market valuation of US$ 2,221.5 million in 2033.
Marketing & branding efforts are important strategies for lecithin manufacturers to differentiate their products from competitors and create a strong brand identity. It could involve promoting the health benefits of lecithin, highlighting its role as a natural ingredient, or targeting specific customer segments with tailored messaging.
Manufacturers might also focus on expanding their product lines or entering new markets to drive growth. It could involve developing new lecithin-based products such as functional foods or supplements, or entering niche geographic markets where there is high demand for lecithin.
For instance,
AAK began offering Akolec in February 2021, which is a range of plant-based lecithin emulsifiers produced from soybean and sunflower oils. These emulsifiers are designed to improve the processing, functionality, and nutritional value of various food & beverage products such as baked goods, confectionery items, and sweetened drinks.
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.
