Revolutionizing Precision: Metrology Software Market Surpasses US$1.9 Billion by 2033

The global Metrology Software Market reached an impressive valuation of approximately $921.3 million in 2022, as per a report by Future Market Insights (FMI). The market is poised for significant growth, with sales projected to exceed the $1,976.1 million mark by 2033, marking a substantial compound annual growth rate (CAGR) of approximately 7.3% from 2023 to 2033.

“A significant growth with increasing demand for budget-friendly yet efficient management solutions in the healthcare and ship building sector will be noticed to automatize the orders based on the percentage of usage, quality and services,” says the FMI Analyst.

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Metrology Software – Important Highlights

  • Metrology software market will hit a CAGR of 6.2% through 2017-2027.
  • North America is the most lucrative region of this market, reason being advanced equipment and rising awareness of healthcare devices.
  • There has been an increase in demand and supply for portable measuring devices, this data is only going to rise in the future.
  • Automotive segment has gained significant momentum among industry verticals and will present a Y-o-Y growth.

Metrology Software – Driving Factors

  • Rising demands for metrology software in ship building and healthcare verticals to maintain accuracy and consistency, dominates the market scenario.
  • Engineering and automotive segment will witness opportunities due to need for precise scales, 3D data analysis, and roughness measurements etc.
  • Adoption of services into development opportunities in industrial, automotive and electronics sector is propelling growth.
  • Engineering precision tools manufactured in North America requires a great deal of metrology software and demand is high in this region.

Metrology Software – Key Restraints

  • Budget management is a challenge because high-quality software is usually not affordable.
  • Adopting metrology software in ship building is a major challenge and it might hinder growth.

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Anticipated Market Impact by Coronavirus Outbreak

It’s crystal clear that the pandemic has taken a toll on the market system. Social distancing measures and strict lockdowns have adversely affected the productions and disrupted operations of the end-use companies across the universe. Though the healthcare industry is experiencing an increasing demand for metrology software yet automation and product/service development work is at halt due to lockdown. This has definitely accounted for a decline in revenue of the metrology software. Though the market will experience comfort as the lockdown releases yet the losses can continue to hamper production.

Competition Landscape

Key players in the market include Rudolph Technologies Inc., FARO Technologies Inc. etc. The companies are focussing on investment plans to improve the development of new products with better features. Apart from unique innovations, leaders are also working on acquisition of regional companies to strengthen global presence.

Taking into consideration, key companies are planning to expand the portfolio of portable measuring devices. New players might find it difficult to make decisions due to limited resources but they can witness steady growth.

Metrology Software Outlook by Category

By Solution:

  • Cloud-based
  • On-Premises

By Services:

  • Software Consulting
  • System Integration & Implementation
  • Support & Maintenance

By Application:

  • Measurement and Alignment
  • Quality Control and Inspection
  • Virtual Simulation
  • Reverse Engineering
  • Others

By Industry:

  • Automotive
  • Aerospace and Defense
  • Power and Energy
  • Consumer Electronics
  • Healthcare
  • Manufacturing
  • Others

By Region:

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

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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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Driving the Future: Global Sensors Market Set for Remarkable Growth, Surpassing US$ 88.1 Billion by 2023

The size of the worldwide sensors market is expected to rise dramatically between 2023 and 2033, continuing on its current track of fast development. In a recent research analysis, Future Market Insights predicted that the sensors market will grow at an impressive rate, with a predicted Compound Annual Growth Rate (CAGR) of 5.7% over the forecast period, and reach a valuation of US$ 153.0 billion by 2033.

According to the analysis, the sensors industry has significant development potential and is predicted to surpass a worth of US$ 88.1 billion by 2023. The remarkable expansion may be ascribed to the growing need for automation, miniaturisation, and Internet of Things (IoT) gadgets across diverse sectors.The trend of integrating sensors into IoT devices is expected to be a significant driver behind the market’s growth.

One of the key observations in the report is the strategic approach of companies within the sensors market to target emerging economies, such as China, India, Southeast Asia, and Latin America. In order to cater to the unique requirements and preferences of these markets, companies are establishing local production facilities, distribution networks, and sales channels.

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Key Takeaways – Force Sensor Market Study

  • Automotive and medical & healthcare industries would remain key end users of force sensors. These two verticals currently account for a collective market share of nearly 40%.
  • Rising demand for portable medical devices and assist machines for emergency medical treatment is likely to push the adoption of force sensors by healthcare industry at a higher rate.
  • In-house development of paper force sensors for musical applications is expected to create new growth opportunities in force sensor market.
  • The capacitive force sensor will continue to lead the way in force sensor market throughout the projection period.

Medical & Healthcare Industry Turning into a Hub of Opportunity

Growing emphasis on improving the quality of healthcare services offer significant opportunities to force-sensing technology developers. Increasing demand for force sensor in various healthcare applications such as infusion pumps, patient weight monitoring systems, physical therapy, surgical staple guns, and oxygen tank monitoring are expected to create new and lucrative opportunities for manufacturers in the force sensor market. However, long regulatory approval processes and counterfeit semiconductor components are major challenges that may hamper the growth of the force sensor market.

Product Innovation to Remain Key Strategy

Key vendors focusing on force sensor platforms are strategizing to develop and innovate new products related to intelligent force measuring technology in order to achieve full global coverage and offer precise global force measurement services.

  • In September 2019, Haehne GmbH launched intelligent force measuring technology with IO-Link. This IO-Link interface for force tension sensors is used for force measurement 4.0. The IO-Link from HAEHNE is a global data interface with intelligent two-side communication for data transmission among the plant control systems and the force measurement sensors in the field.

Applications of Force Sensor Technology in Musical Industry

The market scenario is expected to change in the foreseeable future after the introduction of advanced and cost-effective force sensors and sensing solutions for the musical industry. Manufacturers are also focusing on offering force sensor products for various applications such as electronic drum triggers, keyboard after touch, foot pedal controllers, programmable mixed arrays, and interactive dance floors. These factors are creating potential growth opportunities for developers and providers of force sensors.

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More About Force Sensor Market Study

In this report, the global force sensor market is tracked in terms of value, and is calibrated to obtain the market revenue estimates across different regions. To understand and evaluate these opportunities in the force sensor market, the market is segmented into four major sections such as product type (load cell, capacitive, piezo-resistive, piezo-electric, others), application (monitoring & control and test & measurement), end user (automotive, medical & healthcare consumer electronics, clothing & textile, food & beverage, manufacturing, aerospace & defence, oil & gas, construction, agriculture, and others), and region.

Force Sensor Market Outlook By Category

By Product Type, Force Sensor Market is segmented as:

  • Load Cell
  • Capacitive
  • Piezo-resistive
  • Piezo-electric
  • Others(Optical)

By Application, Force Sensor Industry is segmented as:

  • Monitoring & Control
  • Test & Measurement

By End-User, Force sensor Industry is segmented as:

  • Automotive
  • Medical & Healthcare
  • Consumer Electronics
  • Clothing & Textile
  • Food & Beverage
  • Manufacturing
  • Aerospace & Defense
  • Oil & Gas
  • Construction
  • Agriculture
  • Others

By Region, Force sensor Sales is segmented as:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Japan
  • Middle East & Africa

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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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Augmented Reality and Virtual Reality Market Expected to Expand at 42.2% CAGR During 2017-2025 | Future Market Insights

Among the leading companies in the worldwide augmented reality and virtual reality market are Samsung Electronics Co. Ltd., Apple Inc., Microsoft Corporation, and Google Inc. These businesses are making significant investments in the creation of new virtual reality and augmented reality products, which is driving up demand from a variety of markets, including gaming and healthcare.

Some of these businesses are also providing the necessary infrastructure and financial support to a number of start-ups in order to promote this technology among end consumers. Consequently, during the course of the specified forecast period, the worldwide augmented reality and virtual reality market is anticipated to undergo a significant growth due to the increasing expenditures made by tech businesses.

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The global market for augmented reality and virtual reality stood at an overall valuation of US$5 bn in the year 2016. This valuation is expected to grow and touch a figure worth US$120 bn over the course of the given forecast period of 2017 to 2025. With respect to the market value, the global augmented reality and virtual reality market is projected to showcase a staggering CAGR of 42.2% over the same period of forecast. The global market for augmented reality and virtual reality is estimated to offer an incremental growth opportunity of about US$115 bn during the mentioned forecast period. Among the numerous device segments, the contribution in terms of revenue from the segment of head mounted display is projected to grow at the highest CAGR of 44% during the aforementioned forecast period. Presently, North America accounts for a comparatively higher share in terms of revenue of the global market for augmented reality and virtual reality. However, the Middle East and Africa market for AR and VR is projected to showcase the highest CAGR of 55% among all other key geographical regions over the course of the given forecast period. With respect to revenue, the North America market for augmented reality and virtual reality is expected to remain as the most lucrative regional market during the mentioned forecast period of 2017 to 2025.

Entry of Augmented Reality and Virtual Reality in Gaming Sector to Drive Growth of Market

Uptake of high tech and cutting edge technology in the gaming sector has been on the rise in a considerable manner over the last few years. This growth is also down to the factors such as growing young population, growing spending power of customers on entertainment, increasing penetration of smartphones, and enhanced connectivity of high speed data networks in the emerging economies. Games based on augmented reality such as Ingress and Pokemon Go have experienced huge popularity among the end users as these games present a standout gaming experience, thus leading to a more user engagement. Thus, an increasing demand for AR and VR technology in the gaming sector is expected to significantly drive the overall growth of the global market.

Technologically Advanced Smartphones to Offer Solid Growth Platform for Market Development

In addition to this, smartphones not only are the medium for gaming, they also create several opportunities for these augmented reality technologies. It is very hard to create graphical overlays that is able to interact with the real world in an accurately crafted dimensions with the help of computer vision. However, smartphones win over this technological hurdle as these phones are integrate with components such as MEMS sensors, dual cameras, GPS, and accelerometer. All such elements make them very suitable for the use of augmented reality platforms. This factor is also expected to drive the overall growth of the global augmented reality and virtual reality market.

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Key Segments Covered in the AR and VR Market are :

By Technology Type:

  • Augmented Reality (AR)
  • Virtual Reality (VR)

By End-user Type:

  • Commercial
  • Consumer

By application:

  • Gaming
  • Media & Entertainment
  • Real Estate
  • Education
  • Retail
  • Healthcare
  • Engineering
  • Others

By Device:

  • Head Mounted Display
  • Handheld Devices
  • Head-up display
  • Smartglasses
  • Others

By Component:

  • Hardware
    • Display
    • Processor
    • Sensors
    • User interface ICs
    • Power Management ICs
    • Others
  • Software
  • Services

Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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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IP Multimedia Subsystem (IMS) Market Skyrockets with a 15% CAGR, Projected to Reach US$ 50.4 Billion by 2026

The IP Multimedia Subsystem (IMS) market has witnessed remarkable growth in recent years, with global revenues surging from nearly US$ 14.3 billion in 2017 to a projected US$ 50.4 billion by 2026. This substantial expansion signifies an impressive compound annual growth rate (CAGR) of 15% expected to be achieved by the end of 2026.

This robust growth is attributed to the increasing demand for advanced communication services and the proliferation of 4G and 5G networks globally.

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Key Takeaways

  • The IP Multimedia Subsystem (IMS) market is projected to achieve a remarkable 15% CAGR, reaching nearly US$ 50.4 billion by 2026.
  • Key drivers include the advent of 5G technology, the growing demand for multimedia services, and the integration of IMS with IoT devices.
  • North America and Asia-Pacific are expected to dominate the market, with North America leading in the adoption of IMS technology.
  • Security concerns, interoperability issues, and high initial deployment costs are significant restraints for market growth.
  • The telecommunications sector is the primary adopter of IMS, followed by healthcare and automotive industries, driven by the need for advanced communication and connectivity solutions.

Drivers and Opportunities

Several factors are driving the exceptional growth of the IP Multimedia Subsystem (IMS) market. The advent of 5G technology is a primary catalyst, as it enables ultra-fast data transmission, low latency, and supports a multitude of connected devices. This fosters the deployment of IMS solutions to meet the evolving communication needs of consumers and businesses alike. Additionally, the rising demand for rich multimedia services, including video conferencing, VoIP, and multimedia messaging, has bolstered the adoption of IMS. Moreover, the integration of IMS with Internet of Things (IoT) devices and applications presents significant opportunities for market expansion, particularly in sectors such as healthcare, automotive, and smart cities.

Competitive Landscape – Regional Trends

The global IP Multimedia Subsystem (IMS) market is characterized by intense competition among key players. Companies are focusing on strategic collaborations, mergers, and acquisitions to strengthen their market presence and enhance their product portfolios. Regional trends indicate that North America and Asia-Pacific are expected to dominate the market, with the United States and China spearheading the adoption of IMS technology. The Asia-Pacific region, in particular, is anticipated to witness substantial growth due to the rapid expansion of 5G networks and the increasing demand for high-quality multimedia services.

Restraints

While the IP Multimedia Subsystem (IMS) market shows great promise, it also faces certain challenges. Security concerns and the need for robust data protection mechanisms remain significant roadblocks to widespread adoption. Additionally, interoperability issues between different IMS solutions and the high initial deployment costs pose challenges for small and medium-sized enterprises. Addressing these challenges will be crucial for sustained market growth.

Region-wise Insights – Category-wise Insights

Regionally, North America is expected to maintain its dominance in the IP Multimedia Subsystem (IMS) market, driven by early 5G adoption and a strong demand for multimedia services. In Europe, the market is experiencing steady growth, supported by the expansion of 5G infrastructure and government initiatives promoting digital transformation. The Asia-Pacific region is poised for exponential growth, with emerging economies like India and Southeast Asian countries witnessing increased IMS adoption.

Category-wise, the demand for IMS solutions is highest in the telecommunications sector, followed by healthcare and automotive industries. IMS is enabling telecommunication providers to offer a wide array of multimedia services, while healthcare and automotive sectors are utilizing IMS for remote patient monitoring and connected vehicle applications.

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Market Taxonomy By Mode of Communication

  • Mobile/Wireless
  • Cable/Wireline

By End User

  • Consumer
  • Enterprise

By Application

  • Internet & Web Service
  • VoIP
  • SMS
  • Video Conferencing
  • Video on Demand
  • Others

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Middle East and Africa
  • Japan

Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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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Protein Water Market: Surging Growth and Investment Opportunities Expected to Grow 8.3% by 2033 | Future Market Insights, Inc.

Protein Water
Protein Water

According to Future Market Insights (FMI), the protein water market is poised for remarkable growth, projected to reach a valuation of US$ 2,634.9 million by 2033 with an estimated CAGR of 8.3% from 2023 to 2033. The market, valued at US$ 1,187.1 million in 2023, is thriving on the increasing popularity of protein supplements, especially among health-conscious consumers, athletes, and fitness enthusiasts. The demand is fueled by the convenience of protein-rich beverages, particularly in Europe and North America, where fitness trends are on the rise. The market is witnessing a surge in plant-based protein sources, attracting millennials and prompting continuous product innovation from key market players.

The market has experienced substantial growth from 2018 to 2022, exhibiting a CAGR of 5.1%. Anticipated factors propelling sales include a rise in per capita expenditure on food and beverages globally, driven by modern consumers’ heightened focus on health and ingredient scrutiny. The launch of innovative products with specific key ingredients tailored to consumer needs is expected to bolster protein water sales during the forecast period.

“It is anticipated that in the projected time frame, worldwide per capita spending on food & beverages will increase. Consumers today have become more concerned with the ingredients in their meals. They have started reading the ingredient lists on numerous products. It has further led to the introduction of novel goods such as protein water with essential elements tailored to certain needs.” – Says a lead analyst.

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Factors Driving Growth:

  • Health Consciousness: Increasing concerns about health and fitness are driving the demand for protein water, appealing to a broad consumer base.
  • Plant-Based Trends: Growing interest in plant-based protein sources, especially among millennials, contributes to market expansion.
  • Convenience and Innovation: Protein water’s refreshing nature, low calories, and constant product innovation make it a preferred choice over traditional beverages.

Key Takeaways for Investors:

  1. Market Expansion: The protein water market is positioned for significant expansion, with a projected valuation of US$ 2,634.9 million by 2033.
  2. Innovation and Competition: Ongoing product innovation, new flavors, and unique packaging options create a competitive market landscape.
  3. Investment Opportunities: The rise in demand presents lucrative opportunities for both established brands and new entrants, fostering market competition and growth.

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Investment Opportunities in Adjacent Markets:

  • Canned Alcoholic Beverages Market: A rapidly growing market with a projected value of US$ 76.55 billion by 2033, driven by affordability and innovative flavors.
  • Plant-based Beverages Market: Expected to reach US$ 668.9 billion by 2033, driven by environmental concerns and celebrity influence in promoting plant-based diets.

Country-wise Insights:

  1. United States: Rising obesity rates and a surge in cardiovascular issues are driving protein water demand, especially among health-conscious consumers.
  2. United Kingdom: The growing popularity of veganism contributes to increased protein water demand, presenting an opportunity for cruelty-free protein water mixes.
  3. India: Increasing sports and fitness activities, coupled with government initiatives promoting healthy lifestyles, boost protein water sales in the country.

Competitive Landscape

Existence of significant national and international competitors might fuel the competitive environment of the global protein water market. To increase shares and profits, manufacturing companies are primarily focused on extending their global footprints.

They are expanding their production capacity throughout numerous continents, including Europe, Asia, and North America. It is as a result of the accessibility and availability of providers of raw materials. Leading businesses are also using mergers & acquisitions and new product launches as important competitive strategies.

Key Market Developments:

  • In 2021, Protein2o collaborated with Spikeball. It was Protein2o’s first nationwide sponsorship. It resulted in Protein2o being featured on the side-lines of Spikeball ESPN broadcasts, on social media, and in the hands of their athletes. The collaboration increased Protein2o’s visibility among millennials and gen-Z.
  • In 2021, Ready announced a joint venture collaboration with Highmark Health. It aims to improve the health and nutrition of athletes living in areas serviced by Allegheny Health Network, a provider system of Highmark Health.

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Protein Water Market Outlook by Category

By Product Type:

  • Ready-to-drink/ Liquid
  • Ready-to-mix/ Powder

By Flavor:

  • Original/ Unflavored
  • Flavored
    • Vanilla
    • Chocolate
    • Tropical
    • Peach
    • Strawberry
    • Orange
    • Mango
    • Watermelon
    • Lemon
    • Mixed Berry
    • Black Grape
    • Others (Cranberry and Green apple)

By Packaging Type:

  • Bottle
  • Sachet
  • Box
  • Tetra Pack
  • Pouch
  • Bottle Can

By Source:

  • Plant-based Protein
  • Animal-based Protein

By Distribution Channel:

  • Commercial/ Food Service
    • HoReCa
    • Quick Service Restaurants (Sandwicheries, Fast Casual, Coffee Shops)
  • Retail/ Household/ B2C
    • Hypermarkets/ Supermarkets
    • Convenience Stores
    • Specialty Stores
    • Drug Stores/ Pharmacy/ Wellness Centers
    • Traditional Grocery Retailers/ Mom and Pop Stores/ Discount Stores/ Independent Small Groceries
  • Airport Retail
  • Travel Retail (Airplanes, Cruise Ships, and Others)
  • Online Sales
    • Company Website
    • Gross Merchandiser

By Region:

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

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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USA Plant-Based Creamers Market Projected to Reach US$ 1,601.4 Million by 2033 | FMI

USA Plant-based Creamers Market
USA Plant-Based Creamers Market

According to Future Market Insights (FMI), the USA plant-based creamers market is set for substantial growth, with an estimated value of US$ 618.5 million in 2023, projected to soar to US$ 1,601.4 million by 2033. The market is anticipated to witness a value-based Compound Annual Growth Rate (CAGR) of 9.8% from 2023 to 2033, reflecting the increasing consumer preference for dairy alternatives.

Demand and Market Progress

Plant-based creamers, derived from sources like almond, soy, cashew, and oat milk, cater to lactose-intolerant and health-conscious consumers. The market has progressed steadily, with sales growing at a CAGR of 6.8% between 2018 and 2022. The forecast predicts a surge at a higher CAGR of 9.8%, reaching a total valuation of US$ 1,601.4 million by the end of 2033.

“Rising Popularity of veganism across the USA will continue to bolster plant-based creamer sales. Further, introduction of new vegan creamers in the market will boost the market through 2033. Manufacturers are likely to gain significant revenues by focusing on producing varieties that cater to the millennial population.” – says a lead analyst at Future Market Insights (FMI).

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Key Growth Factors

  1. Changing Consumer Behavior: A shift towards healthy and dairy-free alternatives due to increased awareness of lactose intolerance and dairy allergies is boosting the demand for plant-based creamers.
  2. Veganism Trend: Rising adoption of veganism, particularly among athletes and the younger generation, contributes to the growing demand for plant-based products, including creamers.
  3. Product Innovation: Manufacturers focus on product fortification and introduce low-fat and fat-free variants, meeting the demand for healthier alternatives. DANONE North America’s introduction of new dairy-free creamers exemplifies this trend.

Top Trends Shaping the Industry

  1. Vegan Acceptance: The growing acceptance of veganism and the demand for plant-based products propel the market forward.
  2. Product Variety: Introduction of new creamers with unique flavors, textures, and tastes enhances consumer choices.
  3. Online Accessibility: Easy availability through online platforms contributes to market growth, providing consumers with convenient access.

Comparative Analysis

  • Non-Dairy Creamer Market: Projected at a 7% CAGR with a market value of US$ 3414.8 million in 2033.
  • Ready-to-Drink Coffee: Anticipated to grow at an 8.3% CAGR, reaching a market value of US$ 45.4 billion in 2033.
  • Coffee Creamer Market: Expected to have a 5.6% CAGR, reaching a market value of US$ 32.8 billion in 2033.

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Demand for Organic Plant-based Creamers

The demand for organic plant-based creamers is rising due to the ongoing trend of using clean-label products. Consumers prefer organic options, driving the market toward cleaner and safer alternatives.

Key Takeaways for Investors

Investing in the USA plant-based creamers market presents a promising opportunity. The industry’s positive growth trajectory, fueled by changing consumer preferences, innovative product offerings, and the increasing trend of veganism, makes it an attractive sector for investors.

Competitive Landscape

Leading plant-based creamer manufacturers in the USA market include Califia Farms, Nut Pods, Ripple Foods, Danone, Palsgaard, SunOpta Grains and Foods Inc., Chobani, LLC, Oat-Ly, Nestle SA, Natural Bliss, and Milkadamia.

These players are constantly launching new plant-based creamer variants into the market. They are also using strategies such as mergers, facility expansions, partnerships, collaborations, mergers, and alliances to expand their presence in the USA market.

For instance,

  • In August 2021, Danone announced the acquisition of Follow Your Heart, a plant-based food company that produces vegan cheese, mayonnaise, and salad dressings, among other products.
  • In June 2021, Laird Superfood announced the launch of a new line of vegan creamers made from coconut milk powder, which included flavors like Original, Cacao, and Turmeric.

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USA Plant-based Creamers Market by Category

By Form:

  • Powder
  • Liquid

By Nature:

  • Organic
  • Conventional

By Base:

  • Soy
  • Almond
  • Coconut
  • Oats
  • Hemp
  • Rice
  • Cashews

By Flavor:

  • Original
  • French Vanilla
  • Chocolate
  • Coconut
  • Hazelnut
  • Others

By End Use:

  • HoReCa
  • Food & Beverage
    • Beverage Mixes
      • Coffee Mixes
      • Tea Mixes
    • Food Premixes
    • Soups & Sauces
    • Bakery Products
    • RTD Beverages
    • Infant Food
    • Prepared & Packaged
  • Household/Retail

About Future Market Insights (FMI)

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

 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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Investment Opportunities in the Thriving USA Food Service Industry: A Lucrative Market Overview

USA Food Service Industry
USA Food Service Industry

By 2033, it is anticipated that the USA food service industry is poised for substantial growth, with an estimated size of US$ 985.5 billion in 2023, projected to reach a valuation of US$ 1995.0 billion by 2033. The industry is expected to exhibit a noteworthy CAGR of 7.3% from 2023 to 2033. Notably, the market statistics indicate a robust performance, with significant growth percentages recorded in various periods, showcasing the industry’s resilience and potential.

Demand of the Market

The demand for food services in the USA is influenced by several factors, including the increasing number of two-earner households, high earnings, and the emergence of inexpensive food options. Despite challenges posed by the pandemic, the industry rebounded in 2021, with food-away-from-home spending accounting for 55% of total food expenses. The rise of food trucks, growing acceptance of vegetarianism, and the digital transformation of food services further contribute to the industry’s demand.

Growing Factors

The growth of the restaurant and food service sector is fueled by rising digitization, the popularity of eating out, and the acceptance of vegetarianism. Advancements in technology, including online ordering and delivery services, contribute to the industry’s expansion. Additionally, the USA Department of Agriculture notes a return to pre-pandemic levels in food-away-from-home spending in 2021, signifying a resilient market.

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“Rising food service digitalization is one of the key forces driving the business since clients find it simple to make bookings and payments online. Developing systems for online payments, takeaway and delivery services would also provide significant opportunities to players in this market.” – Says a lead analyst.

The USA Food Service Industry stands as a resilient and dynamic market, offering a spectrum of investment opportunities. From the thriving fast-food outlets to the evolving landscape of catering services, the industry’s adaptability and responsiveness to consumer trends make it an attractive proposition for investors in the B2B sector. The projected CAGR of 7.3% reinforces the industry’s growth potential, positioning it as a lucrative space for those seeking to capitalize on the ever-evolving food service landscape.

Key Takeaways from USA Food Service Industry Report

  • The USA food service market is expected to showcase growth at 7.3% CAGR between 2023 and 2033.
  • The USA catering service industry is anticipated to flourish from US$ 76.7 billion in 2023 to US$ 138.2 billion by 2033.
  • The USA food service industry is set to rise at a CAGR of 7.3% from 2023 to 2033.
  • The USA food service industry exhibited a surge of 6.7% from January to June 2022.
  • The USA catering service industry is expected to elevate at a CAGR of 6.1% from 2023 to 2033.

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Competitive Landscape: USA Food Service Industry

In the past, product portfolios were less globalized. However, as time has gone on and customer appetite has increased, significant businesses are putting more of an emphasis on the development of new services.

Uber Eats, Zipline, UPS, Matternet, Wing, Flytrex, Zing, Amazon, Wingcopter, Elroy Air, Joby Aviation, Volkswagen, and Wisk Aero are just a few businesses that are beginning to expand their service offerings and market reach.

For instance,

  • In April 2023, At its location in La Mirada, California, Yoshiharu Global, a USA-based restaurant operator, planned to introduce its brand-new Yoshiharu Ramen & Izakaya concept. The operator, who is well-known for serving Japanese ramen, soft-launched the new idea on April 7 and will hold a formal opening on April 14, 2023.

Its capacity to keep up with contemporary restaurant trends would be demonstrated by the introduction of an unusual idea at the La Mirada site. It would also enable the restaurant to provide really authentic Japanese eating experiences that are tailored to the changing tastes of its clients.

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USA Food Service Industry Outlook by Category

Section 1: USA Restaurant and Food Service Industry

By Service Type:

  • Full-service Restaurants
  • Street/Kiosk
  • Cafes and Bars
  • Self Service Restaurants
  • Fast Food Outlet
  • Delivery/Takeaway
  • Recreational Places

By Delivery Method:

  • Dine-in
  • Delivery
    • Online
    • Drive Thru
  • Takeout
    • Online
    • Drive Thru

Section 2: USA Catering Service Industry

 By Catering Type:

  • Outdoor Catering (Away-from-home)
  • Industrial Catering (Canteen, Cafeteria)
  • Club Catering (Turf Clubs, Polo Clubs, Golf Clubs)
  • Welfare Catering (NGO, Charity)
  • Leisure Linked Catering (Kiosk, Zoo, Park, Stadium)
  • Retail Store Catering
  • Transport Catering (Airline, Railway, Cruise, Surface)

By End User:

  • Corporate
  • Education
  • Healthcare
  • Defense & Offshore
  • Mining & EPC
  • Sports & Leisure
  • Event Management
  • Others (Retail, Manufacturing, Aviation)

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
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Analyzing the Projected Growth Trajectory of the Automotive Screenwash Products Market

The global automotive screenwash products market in 2022 was US$ 1,812 Million and is estimated to be US$ 2,003 Million in 2023. According to FMI analysis, the automotive screen wash products market is projected to expand at a CAGR of 15.03% between 2023 and 2033, totaling around US$ 8,125 Million by 2033.

The surge in the sale of automotive vehicles over the past few years is one of the key factors contributing to the growth of the market. Further, the increase in the adoption of personal use application dealers and the growth in disposable income of consumers are among the key factors that drive market growth.

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Improvements in screenwash products like compatibility for all-season and specific bug mark-removing applications with a fall in their prices are thus raising the market growth. An increase in usage at a personal level than service providers is thus creating key opportunities for the market to rise. Also, a boost in inclination toward electric vehicles is raising the market growth.

Key Takeaways from the Market Study

  • The global automotive screenwash products market expanded at a CAGR of 14.1% between 2018 and 2022.
  • India is forecasted at a CAGR of 6.21% in the automotive screenwash products market.
  • China is anticipated at a CAGR of 6.54% in the automotive screenwash products market.
  • The United Kingdom consists of a significant portion of Europe’s market with a market share of 10.24%.
  • Based on the sales segment, direct sales have a market share of 72%.
  • Based on product type segment, all-season automotive screenwash products are forecasted a market share of 60.2%.

“Expansion of vehicle fleet raises the demand for automotive screenwash products is one of the primary drivers of the automotive screenwash products market”, comments a Future Market Insights analyst.

Market Competition Scenario

Attributed to the presence of such a high number of participants, the market is highly competitive. An automotive screenwash products market report also contains projections using a suitable set of assumptions and methodologies.

Global automotive screenwash products research report provides analysis and information according to market segments such as geographies, applications, and industries.

Some of the key players in the automotive screenwash products market are

  1. Controls Group
  2. Stanley
  3. Gilson Company, Inc.
  4. Humboldt Mfg. Co.
  5. Cooper Technology
  6. PaveTesting Limited
  7. GDS Instruments
  8. Geo-Con Products Pty Ltd.
  9. Test Mark Industries
  10. Forney LP

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Key Segments Profiled in the Automotive Screenwash Products Industry Survey

Automotive Screenwash Products Market Based on Product Type:

  • All-Season Automotive Screenwash Products
  • Bug Remover Automotive Screenwash Products
  • De-icer Automotive Screenwash Products
  • Water-repellent Windshield Washer Fluid Screenwash Products

Automotive Screenwash Products Market Based on Sales Channel:

  • Direct Sales of Automotive Screenwash Products
  • Indirect Sales of Automotive Screenwash Products

Automotive Screenwash Products Market Based on End Use:

  • Automotive Screenwash Products for Auto Maintenance Shops
  • Automotive Screenwash Products for Personal Use

Automotive Screenwash Products Market Based on Region:

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

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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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Palm Oil Market Expected to Grow 4.48% by 2033 | Future Market Insights, Inc.

Palm Oil Market
Palm Oil Market

The palm oil market is set to expand, holding a revenue of US$ 70.95 billion in 2023 and expected to surpass US$ 109.97 billion by 2033. This growth is fueled by its widespread use in various industries such as food and beverages, packaged food items, and as a biofuel source.

The palm oil market is poised for substantial growth, with a projected average CAGR of 4.48% from 2023 to 2033. Anticipated to reach a value of US$ 109.97 billion by 2033, the market is driven by its diverse applications, affordability, and rising demand as a sustainable biofuel.

  • Palm oil of refined and non-refined grades have their applications that are spread wide through the industries, flourishing the demand for palm oil across the globe.
  • Restoration of industries like food, bakery, and packaged snack industry is booming the palm oil market as it is applied in 50% of the food products. These food products involve fried, baked, and frozen food items.
  • The use of palm oil as a secondary fuel or biofuel source is also gaining traction in the market. Alongside this, Southeast Asian economies are transitioning from a conventional source of energy to a sustainable source. This also fuels the sales of palm oil across the globe.
  • Some properties of palm oil such as no trans-fat and higher affordability make it a popular choice amongst local food outlets and eateries. Alongside this, its usage in palms and fertilizers is propelling its demand across the verticals.

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Key Points

  1. The United States market leads the palm oil market in terms of market share in North America. The North American region held a market share of 13.3% in 202 The growth in this region is attributed to the restoration of the food & beverage industry along with the changing eating lifestyle of people.
  2. The United Kingdom’s palm oil market is another significant market in the European region. Europe, with higher tourist footfall, has an active food industry that cooks all kinds of food items. The rising popularity of ready-to-eat snacks is also fueling the demand for palm oil.
  3. The Chinese palm oil market is anticipated to thrive at a healthy CAGR during the forecast period. Asia-pacific region held a major market share of 72% in 2022. The growth is attributed to increased population, lower per capita incomes, and energy transition programs.
  4. The conventional nature type segment is leading the segment as it held a market share of 98% in 2022. The growth is attributed to the easy accessibility and higher palm oil production
  5. Based on the product type, the fractionated segment leads as it held a major global share of 40% in 2022.

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Competitive Landscape

The key vendors work on expanding their palm plantation along with the launch of different grades of palm oil. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are Archer Daniels Midland, Wilmar International Ltd., Sime Darby Plantation Berhad, IOI Corporation Berhad, Kuala Lumpur Kepong Berhad, United Plantations Berhad, Kulim (Malaysia) Berhad, IJM Corporation Berhad, PT Sampoerna Agro, Tbk, Univanich Palm Oil Public Company Ltd., PT. Bakrie Sumatera Plantations Tbk, Asian Agri, Agropalma S.A., Boustead Holdings Berhad, Fuji Vegetable Oil, Inc., New Britain Palm Oil Limited

Recent Market Developments

  • Fuji oil group has introduced the “Responsible Plan Oil Procurement Polic” which sets out a commitment to zero forestation with no peatland available.
  • Asian Agri has revisited its palm oil grades with enhanced formulation and expanded palm oil plantation.

Palm Oil Market: Segmentation

By Nature:

  • Organic
  • Conventional

By Product Type:

  • CPO
  • RBD Palm Oil
  • Palm Kernel Oil
  • Fractionated Palm Oil

By End User:

  • Food & Beverages
  • Personal Care & Cosmetics
  • Pharmaceuticals
  • Biofuel & Energy
  • Others

Key Regions Covered:

  • North America
    • UNITED STATES
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • United Kingdom
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Japan
  • Asia Pacific Excluding Japan
    • China
    • India
    • Malaysia
    • Singapore
    • Australia
    • Rest of Asia Pacific Excluding Japan (APEJ)
  • Middle East Africa
    • GCC Countries
    • Israel
    • South Africa
    • Rest of the Middle East And Africa (MEA)

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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
LinkedIn| Twitter| Blogs | YouTube