Market Research Blog – Page 3463 – New Product Development

Vegan Steak Market Surges: Unveiling the ‘Growing Factor’ and ‘Demand Surge’ for Investor Opportunities | FMI

The Vegan Steak Market is rapidly growing due to rising consumer preference for plant-based options driven by health, ethics, and the environment. Predicted to reach $598.6 million in 2023 and with a projected 7.3% CAGR, it’s expected to hit $1,129.6 million by 2033, showcasing substantial market expansion and innovation in product alternatives.

As more consumers opt for plant-based products over conventional meat-based ones, the market for vegan steak is growing swiftly. The increasing popularity of vegan steaks can be ascribed to ethical, health-conscious, and environmental considerations. Growing product alternatives and industry innovation are driving market expansion.

The vegan steak market is anticipated to increase at a 7.3% compound annual growth rate (CAGR) between 2023 and 2033, reaching an estimated global value of US$ 598.6 million in 2023. A market estimate suggests that by 2033, the vegan steak market may be worth US$1,129.6 million.

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Since meat has long been a significant source of nutrition in industrialised or Western European nations, there is a sizable market for vegan steaks. On the other hand, eastern economies have recently seen an increase in demand for conventional protein sources.

The demand for vegan steak and other plant-based protein substitutes is growing tremendously in both the global and local markets as the veganism trend expands throughout these nations. It is projected that vegan steak will attract more new customers in the future as more people are willing to spend time learning about these innovative culinary options.

Key Takeaways from the Vegan Steak Market Study

The US vegan steak market size was estimated to be around US$ 168.5 Mn in the previous year. As per the market analysis report, this regional market contributes to around 30.2% of the overall sales of vegan steak achieved around the world.
Germany is the second leading market in the demand for vegan steaks which contributes to around 16.9% of the overall sales. In the European region, it is the largest market that generated a revenue of US$ 94.3 Mn in the year 2022.
In the Asia Pacific region, Japan is the dominant market in the production and consumption of several plant based food products. As per the market statistics report for the year 2022, this market for vegan steaks in Japan reached a market size of US$ 30.7 Mn.
Contrarily, the United Kingdom is the fastest-growing nation in terms of accepting vegan meat steak alternatives by following a CAGR of 8.5%. Such a higher growth rate is predicted to take the vegan steak market share of the UK from US$ 52 Mn in 2023 to US$ 126.5 Mn by 2033.
On the other hand, vegan food product businesses in China are surfacing as staunch competitors in the global market in these years. Moreover, the overall market for vegan steaks in China is projected to register a higher CAGR OF 6% from 2023 to 2033 concluding at a total value of US$ 97.4 Mn.

Competitive Landscape for the Vegan Steak Market

Danone S.A, The Archer Daniels Midland Company, Daiya Foods Inc., Ripple Foods Inc., Impossible Foods Inc., Eat Just, Inc., Beyond Meat, Inc., Amy’s Kitchen, Tofutti Brands Inc., Earth’s Own Food Company Inc., Gardein, and Field Roast are some of the major players in the global vegan steak market.

The United States is the most lucrative region having a lot of demand for all types of plant based unconventional food items. So a lot of vegan steak market key players are located in this country and tend to monopolize the said market with better product knowledge and higher production capacity. However, the growing focus of governments in other countries, in light of sustainable development commitments, is expected to support the emergence of new market players and compete at a global Level.

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Key Segments

By Source:

Soy
Almond
Wheat
Others

By Distribution Channel:

Supermarkets/Hypermarkets
Convenience Stores
Specialty Stores
Online Platforms
Others

By End User:

Packaged Food Industries
Hotels and Restaurants
Retail Food Shops
Domestic Consumers
Others

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Frequently Asked Questions

What is the Growth Outlook of the Vegan Steak Market?
What is the projected Value of Vegan Steak Market By 2033?
What was the Historical Size of the Vegan Steak Market?
Which Country is the Dominant Share Holder in the Vegan Steak Market?
Which Country has the Highest Growth Potential in the Vegan Steak Market?

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Sanitizing Success: Food & Beverage Industrial Disinfection and Cleaning Market Set to Reach $5,549.2 Million by 2033

Size of the global food & beverage industrial disinfection and cleaning market is anticipated to reach approximately US$ 3,270.9 million in 2023. It is projected to expand at a CAGR of 5.4% between 2023 and 2033.

By 2033, it is expected that the global market will be worth US$ 5,549.2 million. East Asia and South Asia Pacific are expected to continue to play a prominent role in the market due to growing demand in nations such as India, China, and Japan.

Growing worries have been raised in recent years about the frequency of food-borne illnesses brought on by viruses, radioactive materials, and inorganic chemicals. Around 10% of the world’s population suffers from food-borne illnesses, according to the World Health Organization.

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As a result, all economies nowadays have more stringent regulatory oversight both inside and outside the food & beverage sector.

In undeveloped and developing regions of Asia, Africa, and South America, the frequency of such illnesses is especially high. As a result, governments in these regions are working hard to implement suitable food testing and disinfection processes for food safety.

Due to these developments, the market for disinfectants that are suitable for use on food has grown significantly over the past several years.

The food & beverage cleaning industry is experiencing growth mainly due to rising demand for food-grade disinfectants and need to prevent outbreaks of foodborne illnesses.

There is an increased focus on reducing food waste, which has popularized the use of food-safe disinfectant sprays in several developed countries.

Cleaning and disinfecting are essential steps in the production process. If not done properly, disinfection can have negative effects. Effective cleaning is required prior to disinfection in order to remove dirt, residues, and other particulates.

Key Takeaways from Food & Beverage Industrial Disinfection and Cleaning Market Study

Top 3 countries in the global food & beverage industrial disinfection and cleaning market are set to hold a share of 40 to 45% in 2023.
In the historical period from 2018 to 2022, the global demand for food & beverage industrial disinfection and cleaning products exhibited 3% CAGR.
The USA food & beverage industrial disinfection and cleaning market is expected to hold around 0% of the North America.
Based on application, the processed food category accounted for a 5% market share in 2022.
In terms of product type, hydrogen peroxide showcased decent growth by generating 3% share in 2022.

“Temperature is an important factor as a few disinfectants do not function well in cold climates. The type of product being produced and processed has a key impact on the disinfectant utilized. Novel production methods to meet changing demands are set to provide a sizeable boost to manufacturers in this industry.” – says a lead analyst.

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Competitive Landscape: Food & Beverage Industrial Disinfection and Cleaning Market

To meet the needs of various markets, leading corporations are concentrating on creating novel products and expanding their manufacturing capacities both domestically and abroad. Only a few of the key firms collaborate and cooperate with other businesses to expand their product lines.

Sustainable solutions have become more and more in demand in recent years. This is a result directly of expanding environmental rules and rising worries about health risks.

The market is seeing prominent companies continue to concentrate on developing novel solutions using biodegradable goods.

For instance,

In December 2021, Kersia, a company operating in the food safety and biosecurity industry, entered into an exclusive agreement to acquire a controlling stake in Kalinisan Chemicals Corporation. It is a Philippines-based company .The agreement is based on the potential for positive synergies between the two companies. Both have complementary geographical, business, industrial, and innovation profiles

In November 2020, Ecolab introduced a new cleaning product called Exelerate TUFSOIL. It is a gel cleaner and degreaser that is ready-to-use and designed for food & protein manufacturers. This cleaning solution is effective in quickly removing stubborn, burnt-on soils from a variety of equipment and areas. This includes fryers, ovens, dryers, catwalks, racks, smokehouses, and environmental spaces. Launch of this new product will enable Ecolab to enhance its product range for the food & beverage industry.

More Insights into the Food & Beverage Industrial Disinfection and Cleaning Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global food and beverage industrial disinfection and cleaning market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on product type (oxidizing disinfectants, non-oxidizing disinfectants, alcohols & cleaning chemicals), process (coagulation, steam sterilization, pasteurization, carbonation, chlorination, UV process, ozonation), application (food industry, beverage industry), and region.

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Key Companies Profiled

Diversey Holdings, Ltd.
Neogen Corporation
Pilot Chemical Company
Nilfisk Food
Kersia Group
CHRISTIANS
Danaher Corporation
Solvay
Ecolab
Evonik Industries
Lagafors AB
FOAMit
Rossari Biotech
Lilleborg AS
Stepan Company
Nerta (Entaco N.V.)
Foamico
Jürgen Löhrke GmbH
Dosanova BV

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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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Commercial Booster Pumps Market Anticipated to Reach US$ 12,084.3 million by 2033

The global commercial booster pumps market achieved a sales revenue of US$ 5,809 million in 2023, with forecasts projecting a remarkable escalation to a valuation of US$ 12,084.3 million by the conclusion of 2033. This significant growth trajectory is underscored by an estimated Compound Annual Growth Rate (CAGR) of 7.6% for worldwide shipments of commercial booster pumps over the forecast period spanning from 2023 to 2033.

In 2023, sales of commercial booster pumps constituted a commanding 62% of the global booster pump market share. Notably, the segment catering to water-based commercial booster pumps is poised for substantial growth, driven by the increasing utilization of water across various industrial applications.

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Commercial booster pumps manufacturers have a promising opportunity to capitalize on the rising demand for corrosion-resistant pumps, driving the market’s potential to new heights.

The prolonged exposure of water pumps to water often leads to accelerated corrosion of the metal components, posing a significant challenge for many commercial booster pumps used in water applications. Recognizing this pressing issue, commercial booster pump companies are prioritizing research and development initiatives aimed at developing corrosion-resistant solutions.

Investments in innovative technologies and materials are underway to address this challenge, with the goal of introducing corrosion-resistant commercial booster pumps for water applications. This strategic focus on corrosion resistance not only addresses a critical industry need but also presents a lucrative opportunity for manufacturers to tap into a previously untapped market segment.

With the demand for corrosion-resistant pumps on the rise, manufacturers have the potential to carve out a niche market and reshape the trajectory of the commercial booster pump industry through the forecast period leading up to 2033. By offering durable and reliable solutions that mitigate corrosion issues, manufacturers can position themselves at the forefront of innovation and meet the evolving needs of customers across various industries.

Key Players

Grundfos
Xylem Inc.
KSB AG
Flowserve Corporation
Sulzer Ltd.
WILO SE
Gorman Rupp Pump Company
ANDTRIZ Group
Danfoss
Pentair Plc.
Peerless Pump Company
CAT Pumps
ETEC
Zoeller Company
Franklin Electric
Luckpump Machiner Co. Ltd.
LEO Group
Mazzoni SRL
Vossche
Torishima Pump Mfg. Co. Ltd

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Market Segmentation by Category

Commercial Booster Pumps Market by Pump Type:

Single-stage
Dual-stage
Multi-stage

Commercial Booster Pumps Market by Operating Pressure:

0.5 – 1 Bar
1 – 5 Bar
5 – 10 Bar
10 – 20 Bar
20 – 25 Bar
25 – 50 Bar
Above 50 Bar

Commercial Booster Pumps Market by End Use:

Municipal Water & Wastewater Management
Groundwater & Rainwater Harvesting
District Cooling & Heating
HVAC
Commercial Buildings
Agriculture & Irrigation
Fire Control & Engineering
Industrial Processes

Commercial Booster Pumps Market by Sales Channel:

Online Sales
Offline Sales

Commercial Booster Pumps Market By Region:

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

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Reflow Oven Market Robust Growth Fueled by Growing Demand and Emerging Factors | Future Market Insights

According to Future Market Insights, reflow ovens market size reached US$ 987.2 Million in 2023 and it is expected to touch a valuation of US$ 1,518.5 Million by 2033. Total reflow oven sales are likely to exhibit a CAGR of 4.4% during the projection (2023-2033).

One of the main factors propelling the growth of the worldwide reflow oven market is the electronics and semiconductor industries’ robust global growth made possible by the quick adoption of digitalization.
Analysis
Reflow soldering, which involves using solder paste to attach electrical components to their contact pads, is a critical stage in the production of electronic products these days. Reflow ovens are used by businesses for this kind of job.

Reflow ovens provide uniform heating throughout the soldering process, preventing component breakage and ensuring strong electrical connections. They are widely used in the production of semiconductor packaging, electrical components, and solar cells.

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Growing demand for smaller electronic devices worldwide is expected to boost the global reflow ovens industry. Similarly, rising demand for lead-free soldering techniques along with growing awareness of the environmental risks caused by lead and other hazardous elements used in conventional soldering techniques is likely to fuel sales of reflow ovens during the forecast period.

Regionally, North America holds the largest market share, and it is expected to continue its dominance during the projection period. This is due to the rapid growth of electronics industry, increasing adoption of consumer electronics, and strong presence of leading reflow oven manufacturing companies.

In addition to this, increasing demand for advanced semiconductor devices and the continued expansion of manufacturing and assembly operations in the region will boost reflow oven market in North America during the next ten years.

Key Takeaways from the Reflow Oven Market Study:

During the projection period 2023-2033, the reflow oven market is expected to expand at 4.4% CAGR.
Based on product, vapor phase ovens segment holds a significant revenue share of the global market.
By application, PCB and electronics segments will together generate maximum revenues through 2033.
With booming electronics and semiconductor industries, the U.S. holds around 32.6% share of the global reflow oven market.
The U.K. reflow oven market is expected to grow at 6.1% over the projection period.
Reflow oven demand in India is likely to increase at 6.5% CAGR between 2023 and 2033.
The China reflow oven market is anticipated to expand at 6.2% during the assessment period.

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Who is Winning?

Leading players in the market include JLW Electronics, Nordson Corporation, Vitronics Soltec, Electrovert Limited, and PVA Tepla America. New product launches with enhanced features, acquisitions, mergers, and facility expansions are some of the key strategies adopted by these reflow oven manufacturers.

Get Valuable Insights into Reflow Oven Market

FMI, in its new offering, provides an unbiased analysis of the Reflow Oven market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for Reflow Oven market based on Product (Vapor Phase Ovens, Infrared & Convection Ovens), Application (PCB, Electronics, Semiconductor Packaging, Solar Cell Manufacturing), and Sales Channel (Online, Offline), across several regions.

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Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

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Segmentation of Reflow Oven Industry

By Product:

Vapor Phase Ovens
Infrared & Convection Ovens

By Application:

PCB
Electronics
Semiconductor Packaging
Solar Cell Manufacturing

By Sales Channel:

Online
Offline

By Region:

North America
Europe
Asia Pacific
Latin America
MEA
RoW

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Animal Feed Probiotic Market Surges to US$ 6,798 Million by 2034, Riding a Strong 6.4% CAGR | FMI

The global animal feed probiotic market is estimated to be around US$ 3,645 million in 2024. In 2023, the market was valued at US$ 3,594 million. It is projected to exhibit a CAGR growth of 6.4% over the forecast period, with an estimated market size of US$ 6,798 million in 2034.

Animal Feed Probiotic have gained popularity as alternatives to traditional additives, owing to their positive impact on gut health. The use of Animal Feed Probiotic as natural and sustainable feed additives for livestock is on the rise, driven by several factors. The key drivers are the increasing demand for meat and dairy products and the need to promote animal well-being. As a result, the market for prebiotics is experiencing an upward trajectory, with ongoing research and development efforts leading to innovative products.

The animal farming industry’s expansion, regulatory encouragement for natural feed additives, and a preference for quality livestock products contribute to the growing market for Animal Feed Probiotic. Consumers and farmers are prioritizing feed additives that enhance animal health, and prebiotics is well-suited to this need.

Reducing antibiotics in animal feed due to concerns about antimicrobial resistance has positioned prebiotics as a natural alternative to support gut health and immunity. Despite the market’s resilience and potential for further growth, some challenges remain. Supply chain disruptions, changes in consumer behavior during economic downturns, and high production costs of prebiotics are among the industry’s obstacles. Convincing traditional farmers to adopt new practices can also be gradual, and limited education programs may hinder widespread adoption. Nonetheless, the overall positive outcomes in animal health and performance drive increased prebiotic adoption, making it a promising area for further research and development.

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Key Takeaways from the Market Study

Bacterial sources dominate the global animal feed probiotic market with a 55.1% share in 2024.
Livestock in animal type in the animal feed probiotic market accounted for 34% of the share in 2024.
The animal feed probiotic market in Japan is predicted to grow at a remarkable CAGR of 8.0% through 2034.
The Indian animal feed probiotic market is predicted to rise by 6.7% CAGR through 2034.
The animal feed probiotic in China is predicted to rise at a whopping 6.5% CAGR through 2034.
The animal feed probiotic in the United States has the potential to increase at 5.1% CAGR through 2034.

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Competitive Landscape

Leading companies such as Koninklijke DSM N.V., Alltech, Inc., Chr. Hansen Holding A/S, E. I. du Pont de Nemours and Company, and Evonik Industries AG contribute to the growth of the animal feed probiotic market:

Big manufacturers and producers of Animal Feed Probiotic are innovative in introducing advanced prebiotic products.
Collaborating with research institutions to accelerate the development and adoption of new technologies.
Having a global presence and robust distribution networks to meet diverse needs and testing in eco-friendly production processes and promoting sustainable approaches to feed additives.

Recent Developments:

On December 11, 2023, the Asia Pacific probiotics in animal feed market witnessed significant growth. Probiotics promote animal health and productivity by maintaining a balanced gut microbiota for optimal nutrient digestion and absorption.
On October 15, 2023, Evonik and Shandong Vland Biotech successfully launched a joint venture in China dedicated to enhancing the gut health of farmed animals through a specialized focus on probiotics.

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Market Segmentation

By Source:

Bacteria
Non-Bacteria

By Animal:

Companion Animal
Livestock
Equine
Swine
Aquaculture

By Form:

Liquid
Dry

By Sales Channel:

Modern Trade
Direct Sales

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
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.

Contact Us:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
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Vegan Cat Food Market Set to Reach US$ 17,158.8 Million by 2033, Riding a 6% CAGR, Fueled by Pet Humanization Trend

The vegan cat food market is forecasted to expand at 6% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 9,291 million in 2023.

Growing ethical concerns among the masses related to the killing of animals for food are giving an impetus to market growth. Another factor fuelling the demand for vegan cat food is the perception of a plant-based diet as a nutrient-rich and healthy option for animals and humans alike.

A large proportion of environment-conscious pet owners are opting for vegan cat food to leave a relatively small carbon footprint behind, as opposed to animal products. Alternate fat sources, like coconut oil, can be seen replacing animal-based fats. This is a significant factor since cats require fat to maintain a high level of energy and to maintain their skin and coat health.

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Another important market-propellant is the rising cognizance regarding the health benefits associated with a vegan diet for both animals and humans. A vegan diet is considered healthy than one including meat and dairy products, due to reduced saturated fats and cholesterol and high levels of antioxidants and fibre.

Surging prices of dairy and meat products are also pushing people toward vegan cat food. Vegan cat food represents an affordable option in light of the rising prices of non-vegetarian products.

Manufacturers are relying on the innovation of their vegan cat food product line as a key strategy to gain many customers. The producers are constantly exploring new formulations for cat food as the demand for new items in the cat food portfolio is rising. Additionally, increasing investments in the advertisement of the product is expected to generate notable sales and revenue for the vegan cat food line.

Top Highlights from the FMI’s Analysis of the Vegan Cat Food Market:

The United States vegan cat food industry is expected to constitute more than 33% of the overall market in 2023.
Germany’s vegan cat food industry acquired 17% of the global market in 2022.
Japan’s vegan cat food industry is projected to gain more than 1% of the overall market in 2023.
The United Kingdom vegan cat food industry is estimated to register a CAGR of 8.7% over the forecast period.
China market is expected to record a CAGR of 4.3% in the coming years.
India’s vegan cat food industry is anticipated to attain a CAGR of 3.4% in the estimated period.
Based on product type, the kibble/dry segment is projected to get more than 35% over the forecast period.
Based on pet type, the kitten segment is expected to acquire above 35% in the coming years.

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Market Watch: New Innovations in the Market

In December 2020, Veggie Animals, a Spanish brand, introduced vegan food for cats. The company extended its product range to incorporate new Veggie Animals PLUS for cats. The product can be consumed by adult cats and is available in the formats of 2kg and 12.5kg throughout Europe.
In October 2022, Peterra Kitchen, which is a “plant-forward” startup of pet food, released new baking mixes for cats and dogs. The plant-based mixes can be deployed to create cat food mix-ins and dog treats. These mixes consist of “health-protective” herbs and spices composed of prebiotics, fiber, and antioxidants to support pets’ gut health.

Top 10 Key Companies Profiled in Vegan Cat Food Market

Benevo
Wysong
Evanger’s Dog & Cat Food
Nature’s Recipe
My Aistra
Evolution Diet
Cannapple
Eco Dog and Cats
Nature’s diet
Dr. Good pet

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Vegan Cat Food Market by Category

By Product Type:

Kibble/Dry
- Extruded
- Baked
- Coated
Dehydrated Food
Treats and Chews
- Pastes
- Creams/Cream Snacks
- Crunchy Snacks
- Chew Sticks
- Tablets
- Biscuits
Freeze-Dried Raw
Wet Food
Frozen
Powder
Freeze-Dried Food

By Age Group:

Kitten
Adults

By Distribution Channel:

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

By Packaging:

Pouches
Bags
Folding cartons
Tubs & Cups
Can
Bottles & jars

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Citrus Seeds Market Poised to Surge to US$ 8.9 Billion by 2033, Propelled by a Robust 6.8% CAGR | FMI

The market for citrus seeds worldwide was projected to reach US$4.32 billion in 2022. Sales are expected to reach $8.9 billion by 2033 thanks to consumer preference for healthy and natural components, which will result in a 6.8% CAGR from 2023 to 2033.

Citrus seeds are used far less frequently than they are generated. The demand-supply imbalance should be reduced by research on the many uses of citrus seeds, particularly in the food and beverage sector. According to FMI predictions, the market for citrus seeds would expand at a significant CAGR due to the rising demand for these derivatives in a variety of applications.

Citrus seeds are recognized for having anti-inflammatory characteristics that support healthy scalp maintenance and give hair a natural sheen and structure. Products made from citrus seeds are beneficial for revitalizing the scalp since they fight dandruff as well as sebaceous dermatitis and, in the end, stimulate the hair follicles to encourage the formation of new hair. Climate change has resulted in significant alterations to the skin’s sensitivity and propensity for disease outbreaks.

The usage of citrus seed products aids in moisturizing the skin by replenishing moisture and enhancing the skin’s healthy shine. The market for citrus seeds is expected to benefit from the rapid increase in the usage of citrus seeds in cosmetology as well as personal care products from 2023 to 2033.

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Key Takeaways from the Market Study

Sales of citrus seeds increased at a 4.2% CAGR between 2018 and 2022.
In 2022, the conventional category had a 74% market share advantage over the organic segment.
Oil extraction is the most common use and in 2022, oil extraction held a 62.5% market share.
Direct B2B industry is estimated to hold a significant market share of 67.1% in 2022.
By 2033, India will control more than 26.2% of the market in Asia-Pacific outside of Japan.
In 2022, the US held a 73.5% market share in North America.

“The worldwide citrus seeds market is expanding as a result of customers, who are looking for products that are manufactured organically and don’t cause skin allergies as a consequence, which is increasing demand for skin care and cosmetics products free of chemicals.” remarks an FMI analyst.

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Competitive Landscape

Market players are extending their manufacturing facilities to increase production volumes. Businesses of all kinds must constantly evolve technologically to compete in this cutthroat climate, thus frequent machinery upgrades are carried out to boost productivity. Adopting modern, cutting-edge marketing techniques to promote the products—such as eco-friendly packaging and biodegradable packets—will guarantee a favorable perception in the eyes of the public and will also place the goods in an advantageous position for success.

Prominent players in the citrus seeds market are:

Lemon Concentrate S.L.
Citrosuco S.A.
Louis Dreyfus Company B.V.
Yantai North Andre Juice Co. Ltd.
Sucocitrico Cutrale Ltd.
Citromax Group
Peace River Citrus Products
Rio Grande Juice Company
Vita-Pakt Citrus Products
Panteley Toshev Ltd
Tangshan Eusa Colors Int’l Group(EUSA COLORS)
Presque Isle Wine Cellars
Parchem Trading Ltd.

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

Yantai North Andre Juice Co.,Ltd. is a renowned company in this market that makes concentrated fruit juice drinks. Juice purees, vegetable juices, fruit juices, compound fruit as well as vegetable juices, and other goods are produced by the company. Yantai North Andre Juice distributes its goods around the world, including in Asia, Europe, and North America.

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Key Segments Profiled in the Global citrus seeds market

By Nature:

Organic
Conventional

By Application:

Animal Feed
Oil Extraction
Dietary Supplements
Personal Care and Cosmetics
Household/Retail
Others

By Sales Channel:

Direct/B2B
Modern Trade
Specialty Store
Online Retailers
Other Sales Channels

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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

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Hexane-Free Protein Market Soars to US$ 285.73 Million by 2033, Riding a Robust 9.7% CAGR | FMI

The hexane-free proteins market worldwide was predicted to reach US$ 103.2 million in 2022. Growing public interest in flexitarian eating habits and increased demand for dairy and meat substitutes are driving the market’s expansion. This has produced an anticipated amount of US$ 285.73 million by 2033, with a CAGR of 9.7% from 2023 to 2033.

The desire for natural, environmentally friendly solvents is being fueled by worries about the negative effects of petroleum-based solvents used on foods for the extraction of oils, such as hexane. The market’s demand for green protein is rising as a result.

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Hexane-free proteins are particularly popular as supplements due to their functional benefits, like their excellent solubility in aqueous media and the availability of vital elements. As the vegan community has expanded, so has the need for plant-based protein.

Hexane-free proteins are being utilized more frequently in sports nutrition products since they are regarded as secure and additive-free. For instance, organic pea protein is a hexane-free protein that athletes are increasingly asking since it is pure, unprocessed, non-GMO, loaded with amino acids, and simple to incorporate with foods and beverages.

Key Takeaways from the Market Study

According to FMI’s study, sales of hexane-free proteins increased at a 7.8% CAGR between 2018 and 2022.
By 2023, the market for isolate hexane-free protein is anticipated to represent 56.3% of the overall hexane-free protein market.
With a 62% share, the powder sector had the largest market share globally in 2022.
In 2022, the energy & sports nutrition sector held a 52.5% market share based on end use.
The hexane-free protein market in North America is expected to grow significantly in value during the forecast period, according to FMI.
By 2023, the Unites States will control 83.3% of the global market.

“The desire for natural, environmentally friendly solvents is being fueled by worries about the negative effects of petroleum-based solvents utilized on food items for oil extraction, like hexane. The market’s demand for organic and clean protein is aiding the market growth. ” remarks an FMI analyst.

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Competitive Landscape

Companies are focusing on emerging nations to build a solid consumer base for their business.

To increase their product portfolio, well-known firms are putting more of an emphasis on new product development.

Prominent players in the hexane-free protein market are:

Axiom Foods, Inc.
Nutiva, Inc.
Ingredion, Inc.
Cargill, Inc.
ABF Ingredients
Austrade, Inc.
Merit Functional Foods
New Protein Global Inc.
Milk Specialties Global
Now Health Group, Inc.
Healthy Hey LLP
Form Ltd.
Boomers Protein
Devansoy, Inc.
Naked Nutrition

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

With the BioPur™ method, New Protein Global provides a variety of functional protein products with distinct qualities including gelling, low/high viscosity, emulsification, solubility, and others. When compared to competing technologies, they have the highest PDI (Protein Dispersibility Index) and the cleanest soy components available on the market. Better dissolve rates are produced by these desired features, which also protect the protein’s original functional capabilities.
Axiom Foods Inc., a significant producer of hexane-free protein, provides its clients with high-value services in addition to hexane-free protein sales. The company’s unique and innovative goods benefit its customers. The completed products are of the finest caliber and boast organic and hexane-free claims.

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Key Segments Profiled In The Global Hexane-free Protein Market

By Product Type:

Isolate
Concentrate
Flour

By Form:

Powder
Syrup

By End Use:

Beverages
- Dairy-based Beverages
- Functional Beverages
- Others
Cosmetics & Personal Care
Breakfast Cereal & Cereal Bars
Energy & Sports Nutrition
Bakery Products
Dairy Products
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

About Future Market Insights (FMI)

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

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Vegan Fast Food Market Booming at 4.5% CAGR Health & Environment Drive Demand Invest Now | FMI Study

The global vegan fast food market is valued at an expected US$ 18829.5 million in 2023 and US$ 27980.2 million by 2033. The global vegan fast It is anticipated that as more people become aware of the advantages of eating a plant-based diet, the food sector will grow. The maltreatment of animals in the food chain and people’s rising knowledge of animal welfare issues are two more factors that have fueled the market’s growth and led many consumers to switch from eating animal-based fast food to plant-based options.

With the US, UK, Germany, and Japan becoming as significant manufacturers, the market for vegan fast food is expected to grow at a stable 4.5% CAGR.

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Due to changes in lifestyle and increased awareness of health and human well-being, there is a rising global market for vegan fast food. Food that is vegetarian is growing in popularity as people’s attitudes towards the environment and other people shift.

A primary driver of the vegan fast-food industry’s growth is the rise in the number of students residing in shared homes or rented rooms. Furthermore, as consumer awareness grows, companies are focusing on providing distinctive, cutting-edge vegan fast food options to attract customers. Some fast-food restaurants, like Burger King, are attracting customers by providing plant-based fast food. These reasons are expected to drive growth in the global vegan fast-food business.

Certain constraints and limitations are expected to stifle the demand for vegan fast food. Fast food-related obesity is expected to stifle growth during the projection period. Nonetheless, rising demand for vegan fast food due to several health benefits such as aiding in the categorization of plaque and fat in arteries, as well as untapped potential in new markets, provide exciting growth chances.

Key Takeaways

The US is expected to have a share of 30.2% of the vegan fast-food market share.
Rising disposable incomes are likely to support the expansion of the vegan fast-food business in North America over the forecast period.
The China vegan fast-food market is expected to grow at a rate of 3.5% throughout the forecast period.
The increasing penetration of global companies in the region is projected to promote vegan fast food market growth.

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Competitive Landscape

Global players are expected to see an increase in demand for vegan fast food, primarily from the food and beverage industries, in order to improve existing product portfolios and increase the use of vegan ingredients in processed food products and beverages, all with the goal of attracting the vegan population. Companies are attempting to provide personalised flavours in order to meet the diverse needs of food and beverage manufacturers. They are focused on providing vegan fast food that meets the needs of vegan fast-food makers, such as organic and natural food products.

Key Segments

By Product Type:

Dairy Alternatives
Meat Substitutes

By End-User:

Takeout
Dine-in

By Region:

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

Partnerships, and Collaborations

In September of 2020, Planterra Foods and the NFL’s Denver Broncos announced a three-year partnership. Through this partnership, the OZO brand is expected to be recognised as the official plant-based fast food of the Denver Broncos. The company is likely to be able to raise brand recognition and customer interest using this tactic.

Beyond Meat Food Co. Ltd., a 100% owned subsidiary of Beyond Meat, has signed a contract with Jiaxing Economic & Technological Development Zone in September 2020 to design and develop production facilities (China). China is the site of a state-of-the-art plant being constructed to manufacture Beyond Meat-branded vegetarian alternatives.

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Product Launches

In October 2020, the Impossible Burger, Impossible Foods’ signature product, is expected to be introduced to the Canadian vegan fast food market, significantly expanding the company’s presence there. The company’s wares can be purchased in any of the roughly 600 Sobeys family stores, or through the retailer’s grocery delivery service. The company’s retail footprint can then be expanded as a result.

In September 2020, Beyond Meat is anticipated to introduce Beyond Meatballs to supermarkets across the United States. There is a need in the market for convenient and healthy plant-based fast food, and this item is expected to fill that void.

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Developing Economies Fuel Growth in Agricultural Grade Zinc Chemicals Market: Fertilizer Segment Offers Lucrative Opportunities

The global agricultural grade zinc chemicals market is estimated to garner US$ 1.3 Billion while exhibiting a 5.4% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure US$ 760.0 Million in 2022.

Growth and expansion of the agricultural industry especially in the developing economies, the development of fertilizers will create lucrative opportunities for growth of the agriculture grade zinc chemicals market. Also, the rising number of research and development by the leading manufacturer and the use of zinc chemicals in agriculture is the primary factor driving the growth of the agricultural grade zinc chemicals market.

The chemical fertilizer segment is likely to offer remunerative opportunities for the global agricultural grade zinc chemicals market. Several emerging economies are making significant developments in their agricultural sector, thereby, providing lucrative opportunities to players in the market.

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Key Takeaways:

By application, the chemical fertilizer segment is expected to record a 5.4% CAGR by 2032
By type, the zinc sulphate segment to expand at a 5.3% growth rate during the forecast period
The U.S market to garner US$ 462.2 Million and record a 5.2% CAGR from 2022-2032
Market in China to procure US$ 92.9 Million, expanding at a 4.8% growth rate during the assessment period

“Growth and expansion of agricultural industry especially in the developing economies, and development in fertilizers, is expected to fuel the demand of agricultural grade zinc chemicals market over the forecast period,” says an FMI analyst.

Competitive Landscape

Eminent players of the global agricultural grade zinc chemicals market include UPL, Syngenta Crop Protection AG, IFFCO, Yara, and Zochem Inc. among others. Recent developments among players include:

In June 2020 – IFFCO signed MoU with ICAR for collaborative research, testing & extension programs across the country for collaborative research, testing and validation of different products through ICAR institutes and Krishi Vigyan Kendras (KVKs). This will also enable these centers to disseminate technological advancements by imparting training, through awareness programs, campaigns, field trials and demonstrations for the benefit of farmers.
In May 2021 – Yara, a leading crop nutrition solutions provider, announced the commercial launch of Agoro Carbon Alliance, a global business created for farmers to earn additional revenue from positive climate action. By adopting climate-positive practices farmers can produce Farm Carbon Credits or climate-smart certified crops and help to decarbonize food supply chains.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global agricultural grade zinc chemicals market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Type (Zinc Oxide, Zinc sulphate, EDTA chelated zinc, Sulphur Zinc Bentonite, Zinc chloride, Other), by Application(Animal feed, chemical fertilizer, others), and Region (North America, Europe, APAC, Middle East & Africa, and Latin America)

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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Nandini Singh Sawlani