Market Research Blog – Page 3485 – New Product Development

Global Pharmaceutical Intermediates Market Poised for Growth as Contract Manufacturing Gains Traction a 4.3% CAGR surge by 2030

The global pharmaceutical intermediates market is experiencing a significant shift, driven by a growing trend of major pharmaceutical companies adopting contract manufacturing (CM) for both intermediates and finished products. This strategic move prioritizes enhanced production capabilities and cost-efficiency, indicating a promising future for industry expansion.

This trend is reflected in the expansion of facilities by businesses globally, with a particular focus on China and India. This strategic shift highlights the growing importance of these regions within the pharmaceutical industry.

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Further solidifying this positive outlook, a recent report by Future Market Insights (FMI), a leading market research firm, forecasts a CAGR of 4.3% for the pharmaceutical intermediates market through 2030. This substantial growth projection underscores the robust potential and pivotal role this segment plays within the broader pharmaceutical landscape.

Key Takeaways:

Contract manufacturing is gaining traction in the pharmaceutical intermediates market.
Companies are strategically expanding facilities, with a focus on China and India.
The market is expected to witness significant growth, with a CAGR of 4.3% projected through 2030.

This shift towards contract manufacturing and the projected growth trajectory paint a promising picture for the future of the pharmaceutical intermediates market.

Key points to consider about the pharmaceutical intermediates market include:

Role in Drug Manufacturing: Pharmaceutical intermediates are chemical compounds that undergo further processing to become APIs, which are the active ingredients in medications. They are the middle step in the drug manufacturing process, linking raw materials to the final drug product.
Diverse Range: Pharmaceutical intermediates can encompass a wide range of chemical compounds, including organic chemicals, inorganic chemicals, and biochemicals. They are chosen based on the specific properties needed for the synthesis of a particular drug.
Custom Synthesis: Many pharmaceutical companies outsource the production of intermediates to specialized manufacturers, which offer custom synthesis services. This allows drug manufacturers to focus on drug formulation and development rather than the production of intermediates.
Regulation: The production of pharmaceutical intermediates is subject to strict regulations and quality control standards imposed by regulatory authorities like the FDA (Food and Drug Administration) in the United States and the EMA (European Medicines Agency) in Europe. Ensuring the quality, safety, and purity of intermediates is critical to the drug manufacturing process.
Global Market: The pharmaceutical intermediates market is a global industry with manufacturers and suppliers located around the world. Major players can be found in countries like China, India, the United States, and Europe.

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Some of the leading companies operating in the market are:

Cambrex Corporation
BASF SE.
Aceto Crporation
Interchem.
Arkema Inc.
Chiracon GmbH.
Midas Pharma GmbH.
Chemcon Specialty Chemical Pvt. Ltd.
Dextra Laboratories Limited
Pfizer
Codexis, Inc
Sanofi
Dishman Group
Dextra Laboratories Limited

Pharmaceutical Intermediates Market – Key Segments:

Product:

Chemical Intermediates
Bulk Drug Intermediates
- Chiral Intermediates
- Achiral Intermediates
Custom Intermediates

Category:

Branded Drug Intermediates
Generic Drug Intermediates

Application:

Analgesics
Anti-inflammatory Drug
Cardiovascular Drugs
Anti-diabetic Drugs
Antimicrobial Drugs
Anti-cancer Drugs
Others

End User:

Biotech and Pharma Companies
Research Laboratory
CMOs/CROs

Region:

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

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About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Next Generation Optical Biometry Devices Market Gearing Up for a Striking US$ 461.3 Million Milestone by 2028

The most recent report by Future Market Insights projects that the next-generation optical biometry equipment market sale will be worth US$ 320.7 million by 2021. The prevalence of eye illnesses including cataracts and refractive errors, as well as the rise in eye clinics and hospitals across the globe, are driving up the adoption of next-generation optical biometry technology.

Sales of next-generation optical biometry equipment are predicted to increase at a CAGR of 5.4% to reach US$ 461.3 million by 2028. In 2021, the global market for ophthalmic imaging devices accounted for 16.1% of shipments of next-generation optical biometry equipment. The majority of revenue generated by the newest optical biometry equipment (41.8%) comes from hospitals.

With the advancement in technology, next-generation optical biometry devices have been developed aiding the measurement of eyes before cataract and refractive surgeries. Earlier measurement by ultrasound technique was gold standard. However, unlike next-generation optical biometry devices, ultrasound devices require direct contact of the probe, which lead to many eye infections.

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According to Prevent Blindness organization, ~25 Mn Americans having cataract require medical care every year in the U.S., hence boosting demand for next generation optical biometry devices. Similar rising demand for next generation optical biometry devices is noted in UK with rising number of cataract surgeries. Increased demand for next generation optical biometry devices is noted in developing markets concurrent with access to eye care facilities. Next generation optical biometry devices are all-in one devices used for evaluation of lens and refraction, of retina.

Next Generation Optical Biometry Devices Market: Overview & Analysis

Rapid increase in number of probe infections due to usage of ultrasound devices, lead to post-operative errors fuelling demand for next generation optical biometry devices instead of ultrasound biometry devices. Manufacturers of next generation optical biometry devices are introducing automated devices which are more efficient in measuring segments of eyes. Players in next generation optical biometry devices market are working on strengthening the software, which could provide detailed information about eye segments. New next generation optical biometry devices introduced are taking into account irregularities and astigmatisms of the anterior and the posterior surfaces of the eye. The next generation optical biometry devices uses a partially coherent wave that has approximately 9x the resolution of a 10 MHz sound wave, for precise measurement of axial length.

Hospitals end users segment account for 41.8% revenue share in the global Next Generation Optical biometry Devices market. Medical services and vision benefits offered under Medicare includes cataract surgeries; which will increase the demand of next generation optical biometry devices.

The company has segmented the global Next Generation Optical Biometry Devices Market into product type and end users. In terms of revenue, the swept source segment in product type in next generation optical biometry devices market report will account for significant revenue share over the forecast period. In contrary, the Partial coherence interferometry (PCI) based next generation optical biometry devices segment in all the markets will exhibit limited investment opportunities through 2028 in next generation optical biometry devices market.

Key Companies Profiled

Nidek Co Ltd.
Ziemer Ophthalmic Systems
TOMEY GmbH
Movu Inc.
OCULUS Optikgeräte GmbH.
Bausch & Lomb Incorporated
Topcon Corporation
Heine Optotechnik GmbH & Co. KG
AMETEK, Inc.
Optovue, Incorporated
Leica Microsystems GmbH

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Key Segments of Next Generation Optical Biometry Devices Industry Survey

Next-Generation Optical Biometry Devices Market by Product Type

Swept-Source Optical Coherence Tomography (OCT) Based Biometers
Partial Coherence Interferometry (PCI) Based Biometers
Optical Low Coherence Reflectometry (OLCR) Based Biometers

Next-Generation Optical Biometry Devices Market by End User

Hospitals
Ophthalmology Clinics and Specialized Eye Care Centers
Ambulatory Surgical Centers

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

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

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Website: https://www.futuremarketinsights.com
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Foreward Momentum: Strategies for Capitalizing on the US$ 1.92 Billion Surge in the Electric Golf Cart Market

The global Electric Golf Cart market is expected to witness a market value of US$ 1.3 Billion in 2023 and is expected to accumulate a market value of US$ 1.92 Billion by registering a CAGR of 4.0% in the forecast period 2023 to 2033.

The Electric Golf Cart Market encompasses the manufacturing, distribution, and maintenance of electrically powered golf carts used primarily for transportation on golf courses, resorts, residential communities, and commercial properties. Electric golf carts offer a convenient and eco-friendly alternative to traditional gasoline-powered carts, providing quiet, emissions-free transportation for golfers, tourists, and facility staff. Here’s an overview of the Electric Golf Cart Market:

Market Overview:

The Electric Golf Cart Market caters to the needs of golf courses, resorts, recreational facilities, and private users seeking efficient and sustainable transportation solutions for short-distance travel.

Electric golf carts are equipped with electric motors, batteries, and onboard charging systems that provide propulsion and power for transporting passengers and cargo on golf courses and other designated pathways.

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The market includes a variety of electric golf cart models, configurations, and accessories to meet the diverse requirements of users, including standard golf carts, utility carts, multi-passenger shuttles, and customized specialty vehicles.

Key Players:

Golf Cart Manufacturers: Established manufacturers of golf carts, such as Club Car (a subsidiary of Ingersoll Rand), E-Z-GO (a subsidiary of Textron Inc.), Yamaha Golf-Car Company, and Garia, produce a range of electric golf cart models for recreational and commercial use.

Specialty Vehicle Companies: Specialized manufacturers and suppliers of electric utility vehicles, low-speed vehicles (LSVs), and personal transportation solutions offer electric golf cart options tailored to specific applications, including hospitality, tourism, and campus transportation.

Aftermarket Suppliers: Companies offering aftermarket parts, accessories, and customization services for electric golf carts, including batteries, chargers, tires, seating, enclosures, and safety enhancements, cater to the needs of individual owners and fleet operators.

Market Drivers:

Environmental Sustainability: Growing awareness of environmental issues and the desire to reduce carbon emissions and noise pollution drive the adoption of electric golf carts as a cleaner and quieter alternative to gasoline-powered vehicles, aligning with sustainability initiatives and green practices.

Golf Industry Trends: Technological advancements, demographic shifts, and evolving consumer preferences within the golf industry, such as increased interest in recreational golfing, resort experiences, and eco-friendly amenities, stimulate demand for electric golf carts as essential equipment for golf courses and facilities.

Regulatory Compliance: Compliance with environmental regulations, emissions standards, and noise restrictions in golf course environments and urban areas incentivizes golf course operators and fleet managers to transition to electric vehicles, including electric golf carts, to meet regulatory requirements and minimize environmental impact.

Cost Savings and Efficiency: Lower operating costs, reduced fuel consumption, and maintenance savings associated with electric propulsion systems, compared to gasoline engines, make electric golf carts an attractive investment for golf course owners, operators, and fleet managers seeking cost-effective transportation solutions.

Market Challenges:

Range and Battery Performance: Limited battery range, charging infrastructure, and battery life may pose challenges for electric golf cart users, particularly on large or hilly golf courses, requiring careful planning, battery management, and charging strategies to optimize performance and uptime.

Initial Investment: Higher upfront costs for electric golf carts, compared to gasoline-powered models, may deter some golf course operators and fleet managers from investing in electric vehicles, although total cost of ownership considerations and long-term savings may offset initial expenses over time.

Infrastructure and Support: Availability of charging infrastructure, technical support, and service networks for electric golf carts, including access to spare parts, repairs, and maintenance, may vary depending on geographic location, manufacturer support, and dealership networks, impacting fleet management and operations.

Regulatory Framework: Compliance with regulations governing low-speed vehicles (LSVs), golf cart safety standards, and vehicle classifications may require additional training, permits, and operational considerations for electric golf cart users, operators, and fleet managers.

Market Trends:

Advanced Technology: Integration of advanced technologies, such as lithium-ion batteries, regenerative braking systems, onboard diagnostics, GPS tracking, and telematics, into electric golf carts to enhance performance, efficiency, safety, and user experience.

Customization and Personalization: Demand for customizable features, accessories, and design options for electric golf carts, including ergonomic seating, weather enclosures, entertainment systems, and branding opportunities, to meet individual preferences and facility requirements.

Fleet Management Solutions: Adoption of fleet management software, asset tracking systems, and remote monitoring platforms to optimize electric golf cart operations, maintenance scheduling, battery management, and performance monitoring for golf course managers and fleet operators.

Alternative Markets: Expansion of electric golf cart applications beyond traditional golf course use, including resorts, parks, campuses, retirement communities, airports, industrial facilities, and event venues, to capitalize on growing demand for sustainable transportation solutions and recreational mobility options.

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Market Outlook:

The Electric Golf Cart Market is expected to witness steady growth, driven by increasing awareness of environmental sustainability, technological advancements, regulatory incentives, and evolving consumer preferences favoring electric vehicles.

Market players that innovate in product design, technology integration, and customer service, while addressing key challenges such as range limitations, infrastructure development, and regulatory compliance, will be well-positioned to capitalize on the opportunities in the Electric Golf Cart Market and support the transition to sustainable transportation solutions in recreational and commercial applications.

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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Middle East and Africa Tourism Security Market Set to Reach US$ 6.7 Million by 2032, Driven by Increasing Global Travel | FMI

North America Variable Frequency Drive Market

The global Middle East and Africa tourism security market is poised to achieve remarkable growth, estimated to reach US$ 2.73 Million in 2022 and forecasted to escalate at a robust 2.00% CAGR, culminating in a market valuation of US$ 6.7 Million by 2032. These findings, highlighted in a comprehensive report, underscore the vital role of safety and security in the tourism industry and its impact on the global economy.

Safety and Security: Cornerstones of Traveler Satisfaction

Safety and security stand as the foundation of traveler satisfaction, acknowledged as fundamental needs for tourists worldwide. The tourism industry’s success is intricately tied to effective security management, with private security agencies and police services playing pivotal roles in ensuring safety across various attractions.

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The UNWTO committee on Tourism and Competitiveness emphasizes that safety measures shield visitors from potential dangers, impacting destination image, tourist behavior, the industry, host governments, generating markets, and media perception.

Tourism Security in the Middle East and Africa: Navigating Challenges

The Middle East and Africa have witnessed improvements in tourism and travel security, fostering international traveler growth. Despite regional differences, concerted efforts focus on enhancing ICT infrastructures, reducing prices, partial openings, and preserving cultural heritage. Notably, countries like Oman, the United Arab Emirates, and Qatar rank among the safest economies globally, further enhancing their appeal to tourists.

Government Initiatives and Security Indicators in MEA

Government initiatives are pivotal in bolstering tourism security in the Middle East and Africa, as evidenced by the expected CAGR of 2.00% in the tourism security market, according to FMI. Safety and security indicators, including the Global Peace Index, Global Terrorism Index, Human Development Index, and Travel and Tourism Competitiveness Index, offer valuable insights into the safety and security landscape.

Religious Tourism in the Middle East: A Significant Draw

The Middle East stands out as a prominent destination for religious tourism, attracting visitors from diverse faiths. Key sites have experienced significant growth, prompting authorities to enhance hospitality services. The region’s unique blend of religious significance and tourist appeal has led to the development of tour packages and complementary services.

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Social and Political Issues Impacting Tourism Security: A Global Concern

Social and political instability, manifested through military coups, protests, and revolutions, poses a significant threat to tourism security. Such upheavals, driven by factors like government incompetence, corruption, and societal unrest, negatively impact foreign arrivals and tarnish the image of destinations.

Insights into Safety Issues and Booking Preferences

Security incidents, encompassing criminal activities, attacks, espionage, or sabotage, have multifaceted negative impacts on the tourism industry, destinations, local communities, and visitors. Online booking emerges as the most prominent channel, driven by its simplicity, convenience, and enhanced security features.

Demographic Trends: Middle-Aged Travelers Lead the Way

Middle-aged individuals, particularly those aged 26-35, are anticipated to drive tourism security demand, with a preference for recreational and adventure activities. This age group’s inclination towards visiting popular sites aligns with the broader trend of global travel.

Competitive Landscape: Industry Giants Enhancing Offerings

Leading players in the tourism security market, including Olive Group, Triple Canopy, Control Risks, United Healthcare Global, and MEDEX Global Solutions, are strategically positioned to capitalize on the growing tourism industry. Unity Resource Group, with its extensive service portfolio, exemplifies the commitment to providing comprehensive security solutions across diverse regions.

The global tourism security market’s upward trajectory signifies the increasing importance placed on safety and security by both governments and travelers. As the industry continues to evolve, stakeholders are encouraged to collaborate and innovate, ensuring a secure and enjoyable travel experience for all.

The Mashed Potatoes Market Predicted to Reach US$ 3,905 Million by 2032 A Delectable Investment Opportunity in the Global Food Industry | FMI

The global mashed potatoes market , approximately US$ 3,905.0 million by 2032, driven by a 4.7% CAGR, will surpass its 2022 value of US$ 2,466.9 million. The growing demand for this flexible food is forcing companies to increase the variety of flavours they offer in order to cater to shifting consumer preferences.

Global mashed potato sales are expected to reach US$ 2,466.9 million in 2022. Because to the growth of the food business, it is anticipated that the overall demand for mashed potatoes will reach US$ 3,905.0 million by 2032, rising at a CAGR of 4.7% between 2022 and 2032.

Mashed potatoes are produced by mashing the boiling potatoes. It’s one of the easiest recipes to make and pairs well with a variety of foods. In the current food market scenario, companies are catering to consumer tastes by providing mashed potatoes in a range of flavours.

The market demand for processed and preserved items has expanded as a result of consumers’ evolving food and beverage choices and lifestyles. The majority of the mashed potato market is accounted for by the American and European markets, and companies are responding to this expanding consumer demand by developing novel and distinctive mashed potato products.

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Market Dynamics of Mashed Potatoes Market

Factors driving the demand of mashed potatoes market is from both demand as well as from supply side.

In context to demand side, consumers demanding those food products which are convenient to eat, better taste and flavor and also can satisfy their hunger. Mashed potatoes has all such characteristics which influences the consumers to purchase.

On the other side, food manufacturers are also pushing the supply of mashed potatoes in market as ease of availability of raw material and also as a food ingredient for food industries. This drives the consumers as well as food manufacturers to add mashed products in their menu.

Some of the key trends which are currently prevailing in the mashed potatoes market as ready-to-eat food, flavored taste and widespread demand of organic and natural food in market. In addition to this, mashed potatoes are also getting popularity of because of its demand from health conscious customers. As companies are offering healthy mashed potatoes which have low sodium, free from fats.

Market Segmentation of Mashed Potatoes Market

Market of mashed potatoes is segmented on the basis of different aspects which are in perspective to form, application and distribution channel. On the basis of form it is segmented as solid and powder form and as per the application it includes as a food product and food ingredient.

Another market segment of mashed potatoes is done in accordance with the basis of distribution channel that is through hyper or super market stores, retailers and online distribution of channels. On examining the proportion of mashed potato market in terms of market share, it is assessed that figures of market segment by application has greater weightage on pie chart.

Moreover, market segment of mashed potato is also segmented into sub-segment and further market of food product can be sub-segmented into snacks and culinary food.

Demand of processed and preserved food is increasing with tremendous growth at global level and mashed potato is also one of the product which is gaining its demand from last few years. The reason behind increasing demand of mashed potatoes is that in this product the natural quality of potatoes remains same.

In addition to this, mashed potatoes are also available in organic form which mostly attracts the consumers who are seeking for healthy lifestyle. Apart from this mashed potato product market gaining its demand due to its application in different food recipes and culinary food. Increase in consumption level of consumers has also influenced the companies to meet the needs and demands of consumers in effective manner.

Companies are offering mashed potatoes of different taste and flavors such as with spices, butter, cheese, garlic. Furthermore, mashed potatoes is also taking wide place in market shelves of hyper or super market store because of its exceptional range of varieties, packaging, application in food recipes and for many other uses.

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Regional Segment of Mashed Potatoes

On the basis of regional segment, market of mashed potatoes is segmented into seven different regions of world. This regional segment includes North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific region, Japan, Middle East and Africa. On evaluating the market segment in terms of production of mashed potatoes, results showcase that Europe is the largest producer of mash potatoes. However in terms of demand of mashed potatoes, America and European countries have majority of demand in global level market.

Major Players in Mashed Potatoes Market

Key players in market of mashed potatoes are Knorr, Idahoan, Simply Potatoes, Pineland Farms Potato Company, Hormel, Hungry Jack Potatoes, McCain, Agristo, Pomuni and Continental are some of the major market players.

The report covers exhaustive analysis on

Mashed Potatoes Products Market Segments
Mashed Potatoes Products Market Dynamics
Historical Actual Market Size, 2013 – 2015
Mashed Potatoes Products Size & Forecast 2016 to 2026
Supply & Demand Value Chain
Mashed Potatoes Products Current Trends/Issues/Challenges
Competition & Companies involved
Value Chain
Mashed Potatoes Products Drivers and Restraints

Key Segments Covered in the Mashed Potatoes Industry Analysis

Mashed Potatoes Market by Form:

Solid Mashed Potatoes
Powered Mashed Potatoes

Mashed Potatoes Market by Application:

Mashed Potatoes as Food Products
Snacks
Culinary Food
Mashed Potatoes as Food Ingredients

Mashed Potatoes Market by Distribution Channel:

Mashed Potatoes Sales via Hyper or Super Market Stores
Mashed Potatoes Sales via Retailers
Mashed Potatoes Sales via Online Distribution Channels

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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Growing Demand and Trends of Feed Barley Market to Reach at US$ 2,125.0 million by 2034 | FMI

Global feed barley sales are expected to be valued at around US$ 1,232.3 million by the end of 2024. The market is projected to register a 5.6% CAGR in the forecast period from 2024 to 2034. It is anticipated to reach a market valuation of US$ 2,125.0 million by 2034.

Cereal grains like barley are mainly fed to fish, fowl, and other animals. In temperate climates, it is typically utilized as livestock feed grain.

Barley is regarded as a good source of tryptophan, lysine, cysteine, methionine, and protein. It also has an excellent metabolizable value of energy for ruminants and a high energy digestibility.

In diets containing dairy and beef, barley is crucial for generating rumen microbial yields. It is packed with nutrient feed choice that offers the vital proteins, fibers, and carbohydrates needed to promote an animal’s growth and development.

“The high demand for red meat in Germany and the United Kingdom is expected to flourish feed barley sales in the estimated period. With growing awareness of the importance of sustainable meat processing methods, the demand for feed barley is set to rise,” – says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)

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The bulk of barley used globally is produced in Russia, with Germany, France, and Ukraine following closely behind. The United States of America, Australia, Canada, Spain, Türkiye, and the United Kingdom round out the top ten nations.

More than 75% of the world’s barley production is produced in the top 10 countries, of which 85% is used for feed. Saudi Arabia is the world’s largest importer of barley, importing about 29% of all barley exports.

When compared to other grains like corn or wheat, feed barley is frequently thought of as a more affordable feed item. It provides an affordable, substantial source of nutrients. Because of this, it is a desirable option for livestock farmers who want to minimize the cost of feed formulation without sacrificing animal nutrition. As a result, feed barley is widely used in the livestock sector.

Meat and dairy consumption in China has increased significantly as a result of the country’s fast-expanding population. As a result, the livestock sector has grown significantly, which is anticipated to increase the demand for animal feed. Feed barley is prized for its nutritional qualities, which include high energy content and fiber, which make it a perfect component for animal feed.

Key Takeaways from the Report-

The estimated worth of the global feed barley market is US$ 1,232.3 million in 2024.
Russia’s feed barley market is expected to hold a 40% of share in 2024.
Germany is expected to hold a significant CAGR of 5.0% in the feed barley industry through 2034.
Based on type, hulled barley is estimated to dominate the feed barley industry by holding a share of 98.3% in 2024.
Based on application, livestock is expected to hold a market share of 85.6% in 2024.

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Competitive Landscape

Several companies prioritize environmentally friendly operations and product certifications in response to the increasing demand for natural and sustainable components. In addition, they aim to strengthen their position in the market and capitalize on the growing demand by prioritizing customer preferences, innovation, and quality.

For instance,

New barley varieties, such as food barley, forage barley types, and traditional feed barleys for feed grain, were launched by Highland Specialty Grains in 2023.
Mintec declared in August 2023 that it was getting ready to launch monthly Mintec Benchmark Prices (MBP) for Argentine feed barley. Participants in the market can provide feedback on this proposal.

Key Companies Profiled

New Country Organics, Inc.
Stone House Grain
The Scoular Company
Highland Specialty Grains
Soufflet Group
GrainCorp.
Cargill, Incorporated
ADM
Ardent Mills
AZMY GROUP LLC
Other Players

Get More Valuable Insights

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

The global feed barley market is segmented by type (hulled barley and naked barley), application (aquaculture, livestock, and pet food), nature (organic and conventional), and region from 2024 to 2034.

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Feed Barley Market Outlook by Category

By Type:

Hulled Barley
Naked Barley

By Application:

Aquaculture

- Fish
- Shrimp
- Shellfish
- Others
Livestock
- Poultry
- Ruminants (Cattle, Sheep, Goats)
- Swine
- Equine
- Others
Pet Food
- Dogs
- Cats
- Horses

By Nature:

Organic
Conventional

By Region:

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

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Revitalizing Pilgrimages: Faith-Based Tourism Market Eyes a Staggering US$ 40.92 Billion Revenue Surge by 2033 | FMI

The global faith-based tourism market could total US$ 15.07 billion by 2023. The report also discloses that the market is expected to boom at a remarkable CAGR of 10.5%, surpassing a market valuation of US$ 40.92 billion by 2033.

More individuals are traveling to places that are significant to their faith or beliefs as a result of growing religious diversity and globalization. There is a growing interest in these individuals in participating in interfaith activities. They desire to gain insight into other cultures and religions. This is likely to open up the potential for faith-based tourism.

Faith-based tourism allows tourists to have genuine and meaningful experiences. This includes attending religious services, taking part in rituals, and interacting with the local population. This is consistent with the rising demand for immersive travel. Here, tourists aim to fully engage themselves in the cultures and customs of the places they visit.

Growing desire in exploring deeper spiritual and religious connections is primarily driving the market. Many individuals are seeking deep travel experiences that let them discover and interact with spiritual or religious places.

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Travel is becoming more affordable and accessible to a wider proportion of the population. Increased disposable incomes in many regions of the world are the reason behind this. A demand exists for faith-based tourism experiences as more individuals can travel on religious or spiritual pilgrimages to pursue their interests.

Through the use of online reservation services, travel apps, and social media, traveling on a religious basis has never been easier or more convenient. Travelers now find it easy to plan, reserve, and share their faith-based travel adventures. This is likely to fuel the expansion of the faith-based tourism industry.

Key Trends in the Faith-Based Tourism Market

In recent years, the global travel landscape has witnessed a significant surge in a distinctive niche – Faith-Based Tourism. This unique sector caters to individuals seeking spiritual enrichment, pilgrimage experiences, and cultural exploration tied to their religious beliefs. As we delve into the key trends shaping the Faith-Based Tourism Market, a fascinating tapestry of cultural, technological, and experiential shifts comes to light.

Tech-Enhanced Pilgrimages: Embracing modernity without compromising tradition, Faith-Based Tourism has seamlessly integrated technology. Mobile apps, virtual reality, and augmented reality now facilitate virtual pilgrimages, allowing believers to immerse themselves in sacred sites and religious ceremonies remotely.
Sustainable and Responsible Travel: An increasing consciousness towards environmental sustainability and responsible tourism is transforming the Faith-Based Tourism Market. Pilgrims are opting for eco-friendly accommodations, sustainable transport, and supporting local communities to minimize their environmental impact.
Diversification of Pilgrimage Destinations: Beyond traditional pilgrimage sites, there is a growing trend of exploring alternative destinations with historical or cultural significance. Pilgrims are seeking new spiritual experiences by venturing off the beaten path, contributing to the economic development of lesser-known locales.
Customized Faith Journeys: Tour operators are recognizing the diverse needs of the faith-based traveler. Tailor-made itineraries, catering to specific religious and cultural preferences, are gaining popularity. This trend reflects a shift from standardized packages to personalized and immersive experiences.

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Competitive Landscape

Faith-based tourism market players include tour operators, travel agencies, and pilgrimage planners. Moreover, religious institutions, accommodation corporations, transportation businesses, and online travel agencies. They provide different services, including planning religious tours and pilgrimages, delivering spiritual experiences, and offering alternatives for lodging and transportation. In addition, they also arrange for well-informed guides, manage religious rituals, and provide cultural insights to meet the special requirements and interests of tourists.

Key Players

Martin Randall Travel Ltd
Heritage Tours & Travels
Bestway Tours & Safaris
Regina Tours
Travelway Europe
SpainTOP
206 Tours Inc.
Maranatha Tours
Indus Travels Inc.
Brightspark Travel Inc.
Wendy Wu Tours
ACE Cultural Tours
Kesari Tours Pvt Ltd
Go Thailand Tours
S. Travel & Tours Co., Ltd
Vansol Travel & Tours
Catholic Travel Centre
Amiel Tours LTD
Israel Travel Providers, LLC
Gil Travel Group

Key Developments

The Culture Travel Company was founded in 2017 by Martin Randall Travel Ltd. The goal of this invention is to provide top-notch cultural travel experiences at reasonable costs. The opening of this brand-new business provides customers with different tours, group dinners, and free time.
Additional pilgrimages have been introduced by Regina Tours to both nearby and distant locations, including Canada, Mexico, Greece, Germany, Poland, and Ireland.

Global Faith-based Tourism Market by Category

By Type:

Day Trips & Local Gateways
Museums
Pilgrimages
Religious and Heritage Tours
Others

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Tour Type:

Independent Traveler
Tour Group
Package Traveler

By Consumer Orientation:

Men
Women
Children

By Age Group:

15 to 25 Years
26 to 35 Years
36 to 45 Years
46 to 55 Years
66 to 75 Years

By Region:

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

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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The Lactase Market Expected to Reach US$ 351.4 Million by 2032 A Lucrative Investment Opportunity in Healthcare and Dairy Industries

The lactase market is projected to increase from $210.2 million in 2021 to $351.4 million in 2032 at a 4.8% CAGR. The lactose included in dairy products is broken down with the help of lactase enzymes; lactose intolerance is addressed by supplements and additions.

Future Market Insights estimated that the lactase market will expand at a compound annual growth rate (CAGR) of 4.8% over the estimated period. It is anticipated that the industry will grow from US$ 219.9 million in 2022 to US$ 351.4 million in 2032. By the end of 2021, the market for lactase was valued US$ 210.2 million.

In the stomachs of humans and other mammals, lactose is broken down into glucose and galactose by the enzyme lactase. Dairy products contain lactose, which can be more easily digested thanks to lactase. Lactase-containing supplements or the addition of lactase to dairy products to help break down lactose before intake are used to treat this disease.

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Lactase Market- Market Dynamics:

According to few studies, there are 10-20% people are lactose intolerant in US alone. Some ethnicities harbor this problem in higher percentages. Lactose supplements are prescribed for said individuals, or lactose is added to the dairy product to break down lactose before consumption. Due to these disorders, there is avoidance of the intake of dairy products. In the long term, the avoidance of said products can lead to problems like osteoporosis.

Lactase supplements are also prescribed for other problems of indigestion as well like Irritable bowel syndrome, bloating, gasses etc. With the exponential rise I h e healthcare market, we can expect to see a significant rise in CAGR for lactase market throughout the forecasted period of 2016-2026. Lactase is widely used in the dairy production. The properties of lactase help reduce the lactose content in the products while sweetening the product and reduced viscosity.

Lactase Market- Regional Outlook:

In terms of geography, the lactase Industry has been divided in to five key regions; North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The lactase Industry is expected to exhibit an above average CAGR during the forecast period. Asia Pacific region is expected to witness a high demand for lactase over the forecasted period. Highest growth is expected to be seen specifically from India and China. Significant growth will also be witness in Middle East and Africa, Eastern Europe and Latin America.

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Lactase Market- Major Players:

Some of the key players in the lactase Industry are Parchem fine & specialty chemicals, McNeil Nutritionals, LLC, Nutriteck, Shandong Tianjiu Bio-Tech Co., Ltd., Mitushi Biopharma, Amano Enzyme, Inc., OENON Holdings, Inc., Dumoco, Nisarg Life Sciences India Pvt. Ltd., Avanscure Lifesciences Pvt. Ltd.,

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections done using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type, machine size and end use.

The report covers exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

Regional analysis includes

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and geographies.

Lactase Market- Market Segmentation:

Based on the Source, the Lactasemarket is segmented into:

Animal
Fungus
plants

Based on end use, the Lactasemarket is segmented into:

Food and Beverages
healthcare

Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint

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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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The Future of Travel: Bleisure Tourism Market Growth Trajectory Targets US$ 3,530.53 Billion by 2033 | FMI

In 2023, the bleisure tourism market is anticipated to surpass US$ 594.51 billion. By 2033, the market valuation is anticipated to reach US$ 3,530.53 billion thanks to a staggering 19.5% CAGR in demand growth.

The expansion of flexible work arrangements, which enable workers to work from any location, is one of the primary drivers. As a result, many workers are utilizing this chance to combine work-related travel with leisure pursuits, developing a new market for bleisure tourism.

Despite having tremendous growth opportunities, the bleisure tourism sector confronts several difficulties. Catering to the different demands of bleisure travelers with varying preferences for work and leisure activities is one of the main challenges.

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Service providers need to offer customized interactions that change based on consumer choices. Making sure that leisure travelers have a flawless journey is another difficulty. To deliver a hassle-free travel experience, service providers including airlines, hotels, and transportation companies must collaborate.

For companies and individuals considering investing in the tourism sector, the leisure industry offers a wide range of investment options. The possibility to invest in housing, transportation, and other services that cater to leisure travelers has been made possible by the rising demand for this kind of travel.

Key Trends in the Bleisure Tourism Market

In recent years, the travel industry has witnessed a paradigm shift with the emergence of a distinctive trend – Bleisure Tourism. A fusion of business and leisure, this burgeoning market segment is reshaping the way professionals approach travel. As we delve into the dynamics of Bleisure Tourism, several key trends stand out, influencing both corporate travel policies and individual preferences.

Blurring Boundaries: Traditional distinctions between business and leisure trips are fading away. Professionals increasingly seek to extend their business travels to include leisure activities, turning mundane work trips into holistic experiences. This blurring of boundaries reflects a desire for a more balanced lifestyle.
Technology Integration: The integration of technology has become integral to the Bleisure experience. From virtual conferencing tools that enable remote work to travel apps that curate personalized leisure itineraries, technology plays a pivotal role in seamlessly blending work and leisure elements.
Wellness Travel: Wellness is taking center stage in Bleisure Tourism. With an increased focus on mental and physical well-being, professionals are incorporating wellness activities into their itineraries. Spas, fitness retreats, and mindfulness experiences are becoming common components of Bleisure trips.
Flexible Corporate Policies: Corporations are recognizing the benefits of employee well-being and productivity associated with Bleisure travel. Progressive companies are adapting policies to accommodate and even encourage employees to extend their business trips for leisure purposes, fostering a positive work culture.

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Key Takeaways from the Bleisure Tourism Market:

The United States is projected to dominate North America bleisure tourism industry due to low-cost airlines and increasing preference for comfortable work environments while traveling.
Germany has a notable share of Europe’s bleisure tourism industry, and the prevalence of business travel culture in Germany is likely to continue driving the bleisure market over the forecast period.
India is expected to dominate South Asia bleisure tourism industry owing to increasing investments in the tourism sector and the expansion of international business organizations.
The corporate segment is likely to continue gaining traction due to the growing focus on employee retention and frequent business travel across multiple countries.
Online booking channels, including various online travel agencies, are anticipated to account for a significant share of the market.
The domestic trip segment is projected to account for a prominent share of the market due to various government initiatives for the development of conference halls and the growth of the travel and tourism sector.
The Independent traveler’s segment is forecasted to account for a dominant share of the market as consumers are preferring to travel solo.
Sales in the technology/IT/software segment are projected to increase at a steady pace, followed by the manufacturing segment.
Once every 2-3 months segment is likely to lead the market in the forecast period in terms of travel frequency.
Sales in the 2 nights segment are expected to hold a lion’s share of the market as travelers are likely to extend their trips by one or two days, particularly if they are visiting a new destination.

Key Players:

Inc
American Express Travel
Expedia Inc.
BCD Travel
Carlson Wagonlit Travel
Flight Centre Travel Group
The Priceline Group
Fareportal, Inc. (traveling inc.)
Wexas Travel
Travel Leaders
The Global Work & Travel Co.
JTB Business Travel
Prime Travels United States
GUNA Travel Germany
DER Touristik
CITS (China Business Travel & Fairs)
China Tour Guide
Tuniu Corporation
FROSCH Travel
CT Business Travel

Key Developments in the Bleisure Tourism Market:

In 2020, Marriott International launched its Work Anywhere program, which targets remote workers and allows them to work from hotels and resorts around the world. The program offers a change of scenery for those looking to combine work and leisure travel.
In 2019, Airbnb launched a new platform called Airbnb for Work, which offers business travel accommodations and experiences. The platform includes features such as expensing tools and the ability for companies to manage employee travel.
In 2021, Hilton launched its WorkSpaces program, which offers daytime access to hotel rooms for remote workers. The program allows travelers to work remotely during the day and enjoy the hotel’s amenities during their leisure time.

Global Bleisure Tourism Market By Category

By Application:

Corporate
Government

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Trip Type:

Domestic Trip
International Trip

By Tour Type:

Independent Traveler
Business Trips
Group Business Trips

By Consumer Orientation:

Men
Women

By Occupation:

Technology/IT/Software
Manufacturing
Finance
Healthcare
Education

By Travel Frequency:

Once a week
Once or twice a month
Once every 4-6 months
3+ times a month
Once every 2-3 months
Once a year
Less than once a year

By Trip Length:

1 Night
2 Nights
3 Nights
4 + Nights

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

Oat Milk Market Is Booming Industry Size, Growth Rate, Business Module, Regional Analysis and Revenue Expansions by 2033 | FMI

According to Future Market Insights (FMI), the global oat milk market is estimated to reach US$ 1,544.3 million in 2023. For the next ten years, global sales of oat milk are likely to rise at 13.7% CAGR. This will take the overall market valuation to around US$ 5,631.4 million by 2033.

The oat milk industry is poised for growth, driven by several factors. These include the increasing consumer preference for plant-based alternatives, a growing awareness of health and wellness, sustainability considerations, and ongoing product innovations.

Oat milk has emerged as a popular substitute for traditional milk, owing to its rich nutritional content. Its widespread use in various applications across the food and beverage sector has contributed to its popularity.

The global oat milk industry is expected to benefit from the rising demand for milk substitutes and plant-based alternatives on a global scale.

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Over the next decade, the market is projected to witness expansion, driven by continuous product innovation aimed at differentiating offerings from competitors. Companies are heavily investing in research and development to enhance the taste, texture, and nutritional profiles of oat milk.

To cater to a diverse range of consumer preferences, businesses are experimenting with various appealing flavors such as chocolate, vanilla, caramel, and seasonal variations. This strategy aims to provide a variety of alternatives that capture a broad spectrum of consumer tastes and preferences.

Manufacturers are also focusing on adding functional ingredients into oat milk such as vitamins, minerals, protein, probiotics, and adaptogens to improve its nutritional profile and health benefits.

Addition of extra ingredients provides value to plant-based milk for people looking for certain health benefits.

Companies are now concentrating on developing specialized oat milk compositions to meet specific nutritional requirements and tastes. This includes low-sugar or no-added-sugar options, gluten-free varieties, organic or non-GMO formulas, and options for specific dietary constraints such as nut-free or soy-free oat milk.

Social media and digital marketing play a role in promoting oat milk and influencing consumer preferences. Influencers, online marketing, and user-generated content all contribute to an increase in oat milk’s exposure and popularity among the target population.

Key Takeaways from the Oat Milk Market Report:

The global oat milk industry size is anticipated to reach US$ 5,631.4 million by 2033.
Global demand for oat milk is likely to soar at 13.7% CAGR over the forecast period.
Based on product type, the full fat/regular oat milk segment is anticipated to reach a valuation of US$ 4015.19 million by 2033.
By flavor, the natural oat milk segment is anticipated to reach a valuation of US$ 3311.26 million by 2033.
The United States oat milk industry is projected to reach a valuation of US$ 1272.60 million by 2033.
During the forecast period, it is expected that China market will expand at a CAGR of 5.1%.

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“Oat milk represents an exciting opportunity for both manufacturers and retailers due to its versatile applications and rising end user demand for plant-based beverages. Although challenges still exist around processing techniques, supply chain management, and consumer education, the market is set to expand at a significant rate globally during the assessment period.” – says a lead analyst at Future Market Insights (FMI).

Who is Winning?

Oatly Group AB, Nestle SA, Lam Soon, Alpro, Califia Farms, PureHarvest, Chobani, F&N Life, Donene SA, Urban Platter, Earth’s Own, Sanitarium are key oat milk manufacturers listed in the report.

These companies are concentrating on launching new products and brands into the market to meet end user demand for plant-based milk products. They also use implementing strategies such as advertisements, mergers, partnerships, agreements, acquisitions, and facility expansions to stay relevant in the market.

For instance,

In March 2021, Only Earth introduced oat milk and coconut milk in India to meet end user demand for milk substitutes.

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Oat Milk Market by Category

By Product Type:

Regular / Full fat
Reduced fat

By Flavor:

Natural
Flavored
- Fruit
- Chocolate
- Vanilla
- Others

By Format:

Shelf-stable
Refrigerated

By Region:

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

About Future Market Insights (FMI)

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