Procurement as a Service Market: Forecasting Strong 7.5% Annual Growth, Targeting US$ 14,741.4 Million by 2033

The procurement as a service market is expected to experience steady growth, with an annual increase of 7.5%. By the year 2033, it is projected to reach a total value of US$ 14,741.4 million. This market involves outsourcing procurement processes to third-party service providers, offering benefits such as cost reduction and increased efficiency.

PaaS providers offer a range of helpful services like finding good suppliers, keeping track of those suppliers, managing contracts, handling purchase orders, and dealing with invoices. They make these services available through online platforms, so businesses can easily use them from anywhere and at any time.

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Technology is getting really smart these days. Things like AI, machine learning, and robots are making PaaS (Platform as a Service) solutions even better. These solutions can now do things like automate tasks, analyze data, and make things clearer. Lots of businesses want better ways to buy stuff, and that’s why they’re using digital and cloud-based tools to do it.

Furthermore, the global supply chain is quite intricate and always changing, which makes it difficult for companies to handle their procurement needs internally. When companies decide to outsource their procurement to experts in the field, they benefit from the specialized knowledge and experience of these service providers. This helps in building stronger relationships with suppliers, reducing risks, and ensuring that they follow all the necessary rules and regulations.

The procurement as a service market in the United States was valued at around US$ 2.2 billion in 2021 and is expected to reach US$ 2.4 billion in 2022. The COVID-19 pandemic has accelerated the adoption of procurement as a service in the public sector, as organizations recognize the drawbacks of traditional procurement processes and seek digital transformation. This trend is driving the market in the United States, with a projected valuation of US$ 4.7 billion by 2033.

Europe holds a significant share of 21.4% in the procurement as a service market. The region benefits from a strong economy, technological advancements, and high adoption of digital solutions. Europe’s mature cloud infrastructure, emphasis on data security, and privacy regulations contribute to the growing adoption of PaaS among businesses.

India is experiencing significant growth of 11.2% in the procurement as a service industry. The country’s fast-growing economy, globalization, and integration into the global supply chain drive the adoption of digital technologies, including PaaS. By outsourcing procurement activities, they can reduce operational costs and focus on core competencies.

The manufacturing vertical drives the market, as companies aim to provide quality products at optimal prices, reduce production time, and manage expenses. The manufacturing segment registered a CAGR of 7.3% during the historical period.

Large enterprises hold a significant share of 60.3% in the procurement as a service market. With complex procurement requirements and extensive operations, these organizations turn to PaaS solutions to optimize their procurement processes. PaaS offerings, including advanced supplier management features, help large enterprises strengthen supplier relationships, mitigate risks, and make informed procurement decisions.

Competitive Landscape:

Procurement as a service provider performs merger and acquisition strategies to gain expertise and market share. The key companies operating in the procurement as a service market include Accenture, Infosys, GEP, Genpact, Proxima, WNS Denali, Capgemini, IBM, Wipro, HCL Technologies, Tata Consultancy Services(TCS), Xchanging, Aegis Components Inc., Corbus LLC, Bain & Company, CA Technologies, Hewlett Packard Enterprise Development LP, Skybox Security Inc, Palo Alto Networks, Inc and Cisco Systems, Inc.

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Procurement as a Service Market Segmentation:

By Component:

  • Strategic Sourcing
  • Spend Management
  • Contract Management
  • Category Management
  • Process Management
  • Transactions Management

By Organization Size:

  • Large enterprises
  • Small and Medium-sized Enterprises (SMEs)

By Vertical:

  • Manufacturing
  • Retail and consumer packaged goods
  • Banking, Financial Services, and Insurance (BFSI)
  • IT and Telecom
  • Energy and Utilities
  • Healthcare
  • Travel and Hospitality
  • Others (government, media, and entertainment)

By Region:

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

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

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Robocall Mitigation Market Witnesses Surge, Expected 12.7% CAGR Leading to US$ 18.05 Billion by 2033

The robocall mitigation market is estimated to be worth US$ 5.4 billion in 2023, with projections indicating a substantial increase to US$ 18.05 billion by 2033. This means the industry is expected to grow at a considerable annual rate of 12.7% throughout the forecast period.

Robocall mitigation is a solution designed to stop unwanted automated calls that often carry spam or attempt to extract sensitive information. One of the key issues that concerns the public is the ease with which telemarketers can hide their true identity or make robocalls from anywhere on the internet while making their caller ID information appear legitimate, deceiving the call recipient. This deceptive practice has led to many individuals falling victim to fraudulent schemes and losing money.

To address this growing problem, the government has stepped in to establish a secure communication system. This government intervention is a driving force behind the development of solutions for robocall mitigation. With the rising number of illegal robocalls, the market for robocall mitigation is poised for significant growth in the near future.

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IT & Telecommunication End Use to continue being Growth Axis for Robocall Mitigation Revenue

Robocall mitigation end-use in IT and telecommunication generated more revenue compared to other segments. The development of the internet has increased the number of illegal robocalls performed through telecommunications. In order to mitigate the illegal robocall and frauds associated with it, telecommunication companies are using robocall mitigation solutions like call authentication, robocall prevention, and robocall analytics, which is driving the segment growth. The IT & Telecommunication segment recorded a CAGR of 29.1% during 2015-2021.

US to hold the largest share in the global Robocall Mitigation Market

The US generated the highest revenue in the robocall mitigation market in 2021. The implementation of the STIR/SHAKEN call authentication framework and its associated policies, has been driving the robocall mitigation market in the US. The market in the US held a size of US$ 1.6 Billion in 2021 and is expected to reach a valuation of US$ 6.4 Billion by 2032. The robocall mitigation market in the country is projected to account for a US$ 4.3 Billion absolute dollar growth opportunity by the end of 2032.

Leading Key Players:

  • Brightlink
  • LiveVox Hldgs
  • Metaswitch
  • Mobileum Inc.
  • Neustar Inc.
  • Numeracle
  • Ribbon Communications
  • Thales
  • Transaction Network Services (TNS)
  • TransNexus
  • Bulk Solutions, LLC
  • Neural Technologies Limited

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Robocall Mitigation Market Segmentation:

By Solution:

  • Call Authentication
  • Robocall Prevention
  • Robocall Analytics

By End Use:

  • IT & Telecommunication
  • Government
  • Other Industries

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • The Middle East & 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 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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Climate Tech Market: Forecasting a Striking 24.5% CAGR, Surging to a US$ 182.54 Billion Valuation by 2033

The climate tech market is expected to be worth about US$ 20.34 billion in 2023, according to forecasts from FMI. What’s even more exciting is that this market is set to grow significantly in the years to come. By 2033, it’s predicted to reach an impressive US$ 182.54 billion. This means that from 2023 to 2033, the market is anticipated to grow at a very high rate of about 24.5% each year. This growth reflects the increasing importance and investment in technology that helps address climate and environmental challenges.

Multiple factors driving the growth of the clean technology market:

  • Growing Awareness of Climate Change: More and more people are becoming aware of climate change and how it’s affecting our planet. This increased awareness is making people want cleaner and greener technology.
  • Government Rules and Policies: Governments are making rules and laws to reduce the pollution that causes climate change. They’re also encouraging businesses to be more eco-friendly. This is pushing companies to develop cleaner technology.
  • Better Green Energy Tech: We’re also seeing exciting improvements in technologies that use clean and renewable energy sources, like wind and solar power. Additionally, there are innovations in capturing and storing carbon emissions to keep our environment cleaner.

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One of the main reasons behind the growth of this market is that people around the world are becoming increasingly aware of climate change and the harmful impacts it’s causing. People are realizing the importance of switching to cleaner and more environmentally friendly sources of energy to reduce the pollution that’s causing climate problems. This growing awareness is making more and more people interested in using climate-friendly technologies and services. It’s also pushing governments and companies to invest in things like renewable energy, ways to use energy more efficiently, and other technologies that are good for the planet.

Government rules and decisions play a big role in how the climate technology industry grows. Lots of countries have set important goals to use more clean energy, make companies pay for the pollution they create, and make stricter rules about how much harmful stuff they can put into the air. These rules make it easier for companies that work on climate-friendly technology because they get help and rewards for making and using these sustainable technologies. Governments also spend money on coming up with new ideas and making better technology for the climate tech industry.

The Climate Tech market is changing in exciting ways, and one important change is the use of advanced digital technologies like artificial intelligence, big data analysis, and the Internet of Things in climate solutions. These tech tools help us keep a closer eye on our energy systems, making them work better and more eco-friendly. It’s like giving our planet a helping hand to save energy and be more sustainable.

Key Takeaways from the Climate Tech Market Report:

  • The climate tech industry in the United Kingdom is anticipated to rise, exhibiting a CAGR of 21.3 % through 2033.
  • The United States held a 17.7% share of the global climate tech industry in 2022.
  • With a CAGR of 24.9 % over the forecast period, India is predicted to develop rapidly in the climate tech industry.
  • In 2022, Japan had a 6.5 % share of the climate tech industry globally
  • The climate tech industry in China is expected to increase, registering a CAGR of 26.7 % over the forecast period.
  • Germany accounted for 10.4 % of the global climate tech industry in 2022.

Competitive Landscape in this Market :

Key market players are actively driving innovation and sustainable solutions. They focus on electric vehicles and renewable energy, invest in renewable projects, and aim for carbon neutrality. They also commit to being carbon-negative and developing AI-powered energy efficiency solutions.

Certain players pursue carbon-free energy and sustainable infrastructure. A few of them operate on renewable energy and strive for a carbon-neutral supply chain. Climate tech companies also provide grid solutions, wind turbines, offshore wind farms, solar power solutions, and fuel cell technology. These companies contribute to the advancement of clean technologies and sustainable practices in various sectors.

Key Players:

  • GE
  • IBM
  • Enablon
  • Salesforce
  • Microsoft
  • Schneider Electric
  • Engie Impact
  • Intelex
  • Enviance
  • Sensus
  • Lo3 Energy
  • Isometrix
  • Taranis
  • Trace Genomics
  • Consensys
  • Cropx
  • Hortau

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Climate Tech Market Segmentation:

By Component:

  • Climate Tech Solutions
  • Services
    • Consulting
    • Integration and Deployment
    • Support and Maintenance

By Technology:

  • IoT
  • AI and Analytics
  • Digital Twin
  • Cloud Computing
  • Security
  • Blockchain

By Application:

  • Carbon Footprint Management
  • Green Building
  • Water Purification
  • Soil Condition/Moisture Monitoring
  • Crop Monitoring
  • Forest Monitoring
  • Weather Monitoring and Forecasting
  • Air and Water Pollution Monitoring
  • Sustainable Mining and Exploration

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • 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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Global Plant-Based Fish Market Expected to Reach US$ 1,271.2 Million by 2033, Driven by Growing Interest in Organic Foods – FMI Study

Plant-based Fish Market
Plant-based Fish Market

The Global Plant-based Fish Market is expected to increase from US$ 804.6 million in 2023 to US$ 1,271.2 million in 2033. As health concerns about excessive meat consumption grow, consumers are turning to a variety of meat substitutes. This venture is primarily benefiting sales of plant-based fish products.

Growing Interest in Organic Foods

Consumers place a high priority on preserving optimal health in today’s culture. Consumers are more concerned than ever about food safety and residue levels. Growing consumer awareness and concerns are driving up demand for chemical-free food items. As a result, local businesses and establishments such as supermarkets are promoting the availability of organic products.

Key Takeaways:

  1. Market Growth Projection: The Global Plant-Based Fish Market is anticipated to witness substantial growth, increasing from USD 804.6 million in 2023 to USD 1,271.2 million in 2033, propelled by rising health concerns and a surge in demand for organic foods.
  2. Growing Interest in Organic Foods: With consumers increasingly valuing optimal health, the demand for chemical-free and organic food products is on the rise. Major supermarket chains and retail spaces are expanding their offerings of organic goods, contributing to the growth of the plant-based fish market.
  3. Veganism and Environmental Concerns: The market for plant-based fish is expected to expand due to the growing popularity of veganism and rising concerns about the environment and animal welfare. Health-conscious consumers are driving the demand for plant-based seafood products.

Market Dynamics:

  • Challenges in Plant-Based Fish Sector: The sector may face challenges due to the rising prevalence of chronic gastrointestinal issues associated with toxins in seafood, potentially hampering market expansion. However, the surge in consumers opting for a healthy lifestyle is likely to create additional opportunities for growth.
  • Market Restraints: Concerns about mercury and other toxins in seafood may restrain the growth of the plant-based fish market, but the rising demand for environmentally friendly and plant-based alternatives is expected to offset these challenges.

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Several major supermarket chains, including Wal-Mart, SPAR, Penny Market, CBA, BIM (Birlesik Magazalar), Ahold Delhaize, Tesco, Lidl, Carrefour, and ALDI, are increasing the variety of plant-based items that they provide. In many different countries, restaurants are catering more and more to health-conscious patrons with organic menus. Furthermore, the industry is progressing due to the growing trend of vegetarianism and the expansion of restaurants, which is driving up demand for organic foods.

A surge in veganism’s popularity is projected to boost the market’s expansion for plant-based fish throughout the course of the forecast period. The market for fish made from plants is predicted to expand as a result of rising worries about the environment and animal welfare. Due to rising customer demand for such products, it is also projected that the market for fish made from plants would grow.

The growth of the plant-based fish sector is anticipated to be hampered by the rising prevalence of chronic gastrointestinal issues brought on by the presence of mercury and other dangerous toxins in seafood. On the other hand, throughout the entire forecast period, the need for plant-based fish products that is generated during production, packing, and distribution is anticipated to restrain the expansion of the market for plant-based seafood.

The surge in customers opting for a healthy lifestyle is likely to create additional chances for the plant-based seafood market to grow in the coming years.

Key Points from the Plant-based Fish Market

  • The growing popularity of veganism is the key factor fueling the plant-based fish market. The world’s population is switching to veganism as a result of increased health knowledge and lifestyle change. Many people are growing more concerned about the environment and animal welfare; consequently, mounting concerns over increased fishing activities in the sea have spurred the plant-based fish business.
  • Plant-based fish market is predicted to expand at a CAGR of 5.8% during the forecast period 2023 to 2033.
  • North America dominated the plant-based fish market.

Key Developments in the Plant-Based Fish Market:

  1. Acquisition by Wicked Kitchen (September 2022):
    • Wicked Kitchen acquired the plant-based seafood brand Good Catch in an all-stock deal, enhancing their market presence.
  2. Innovation in Baby Formula (July 5, 2022):
    • Danone introduced the Dairy & Plants Blend baby formula, addressing parents’ need for flexible and plant-based dietary options for their babies.
  3. Strategic Partnership for Online Distribution (June 8, 2022):
    • Sprout Organic partnered with Amazon to offer its plant-based baby formula to a wider audience, capitalizing on the surge in online formula sales.
  4. Expansion in Plant-Based Sector (January 2020):
    • Nestlé collaborated with Bucron and Merit to accelerate the development of plant-based dairy replacements.
  5. Strategic Acquisition in India (March 2022):
    • Goodmylk, a plant-based dairy company, acquired the nutrition brand PRO2FIT, expanding its reach in India’s growing plant-based sector.

Key companies in the Plant-based Fish Market are Gardein by Conagra Brands, MorningStar Farms, Archer Daniels Midland Company, Symrise, Roquette Frères S.A., Kellogg’s, Tyson Foods, Inc., Sotexpro SA, Crown Soya Protein Group, Puris Proteins, LLC, Ingredion GmbH, Glanbia plc, Fuji Oil Co., Ltd.

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Plant-based Fish Market by Key Segment

By Product Type:

  • Burger Patty
  • Fillets
  • Crumbles & Grounds

By Source:

  • Soy-based Protein
  • Wheat-based Protein

By Distribution Channel:

  • Supermarkets
  • Convenience Stores
  • Specialty Food Stores

By Region:

  • North America
  • Latin America
  • Europe
  • The Middle East and Africa
  • East Asia
  • South Asia
  • 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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

 Contact Us:

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Future Market Insights Inc.
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Vegan Protein Powder Market Expected to Witness Robust Growth, Projected to Reach US$ 9.07 Billion by 2033 – FMI Report

Vegan Protein Powder Market
Vegan Protein Powder Market

According to Future Market Insight, the Global Vegan Protein Powder Market will reach US$ 9.07 billion by 2033, registering a CAGR of 7.4%. This expected expansion represents a significant increase from its estimated value of US$ 4.63 billion in 2023.

Globally, there has been a discernible increase in the number of people adopting vegan and vegetarian diets. People switch to plant-based diets for a number of reasons, such as benefits to their own health, ethical quandaries, and environmental concerns. This has led to a significant increase in demand for plant-based protein powders. Protein powders grown from plants provide a handy and accessible supply of protein without involving components sourced from animals.

The increasing need for supplements to support optimal health and enhance wellness has led to a notable growth in the market for vegan protein supplements. Given our busy schedules and fast-paced modern lives, convenient protein sources are more in demand than ever. Furthermore, vegan protein powders can be quite helpful for those following restricted diets or those with lactose intolerances.

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Given their high amino acid content, protein powder supplements are also gaining popularity among fitness enthusiasts seeking muscle development. Vegan protein powders have recently gained considerable popularity among athletes and fitness enthusiasts. These powders are derived from plant-based sources such as peas, rice, hemp, soy, and other legumes. They offer a convenient and effective way to increase protein intake, which is crucial for muscle repair and growth.

The increasing popularity of plant-based milk alternatives has significantly contributed to the rising demand for vegan protein powders. Soy milk, almond milk, and pea milk are widely consumed as substitutes for dairy milk and have gained popularity. Plant-based milk alternatives are often perceived as healthier than dairy milk due to their lower saturated fat content and potential health benefits associated with the plant-based ingredients.

Soy protein isolate is a high-quality, easily digestible protein with a neutral flavor. Pea protein powders are another good source of plant-based Protein. They don’t contain gluten and have minimal carbs. These factors make these alternative protein powders a popular choice among vegan consumers.

Vegan protein powders have expanded their reach through various distribution channels. They are readily available in health food stores, supermarkets, online platforms, and specialized vegan stores. E-commerce has created opportunities for established brands and emerging start-ups to reach a wider customer base. Online platforms offer convenient access to a variety of vegan protein powders, facilitating ease of purchase for consumers. This increased accessibility has significantly boosted the Market. It has made vegan protein powders easily accessible to a wider range of consumers.

The vegan protein powder market has seen successful marketing campaigns and endorsements by influential individuals. Celebrities, athletes, and fitness influencers have endorsed vegan protein powders. These endorsements have raised awareness and highlighted the benefits of vegan protein powders. They have managed to attract the interest of a broader range of viewers. Marketing efforts have played a pivotal role in promoting the growth of the vegan protein powder market.

Manufacturers continuously innovate to improve vegan protein powders’ taste, texture, and nutritional profiles. They are also introducing new flavors and incorporating additional functional ingredients, such as probiotics and superfoods, to enhance the overall health benefits.

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In response to the growing demand for personalized nutrition, certain companies in the vegan protein powder market have started offering products tailored to the individual’s specific needs. This personalization considers factors such as age, gender, and fitness goals to provide a more customized and targeted protein supplement.

Key Takeaways from the Vegan Protein Powder Market

  • The United States held a 17.2% share of the global vegan protein powder industry in 2022.
  • India is expected to have strong growth in the vegan protein powder industry, with a CAGR of 4.7% during the projected period.
  • In 2022, Japan had a 4.8% share of the vegan protein powder industry globally.
  • China’s vegan protein powder industry is expected to flourish speedily, registering a CAGR of 10.2% over the forecast period.
  • Germany accounted for 6.2% of the global vegan protein powder industry in 2022.

Competitive Landscape in the Vegan Protein Powder Market

Key players are actively expanding their product portfolios, focusing on research and development to improve taste and texture and investing in sustainable sourcing practices. They also employ innovative marketing strategies to reach a broader consumer base and capitalize on the growing demand for plant-based protein options. Additionally, these companies are forging strategic partnerships with retailers and health-conscious influencers to increase brand visibility and establish themselves as leaders in the rapidly growing vegan protein powder industry.

Recent Developments by Key Players

In June 2023, Synthite introduced two exciting new products to the Market. One of them is Just Plants, a plant-based dairy alternative, and the other is Protein, a plant-based protein drink powder.

In August 2021, Ascent, a rapidly growing sports nutrition company in the United States, unveiled a new range of organic plant-based protein powders to promote muscle health and enhance athletic performance.

Top Companies in Vegan Protein Power Market

  1. Archer Daniels Midland Company
  2. AGT Food and Ingredients
  3. Cargill Inc.
  4. A&B Ingredients
  5. Ingredion Incorporated

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Vegan Protein Powder Market Segmentation

By Source:

  • Soy
  • Wheat
  • Pea
  • Others

By Flavors:

  • Unflavored
  • Chocolate
  • Vanilla
  • Strawberry
  • Blueberry
  • Others

By Application:

  • Food Processing
  • Nutritional Products
  • Animal Feed
  • Household (Retail)
  • Others

By Distribution Channel:

  • Direct Sales
  • Hypermarkets/Supermarkets
  • Specialty Stores
  • Pharmacy & Drug Stores
  • Online Stores
  • Others

By Regional Outlook:

  • North America (United States, Canada)
  • Latin America (Brazil, Mexico, Peru, Argentina, Chile, Rest of LATAM)
  • Europe (EU-4, United Kingdom, BENELUX, Nordics, Eastern Europe, Rest of Europe)
  • East Asia (China, Japan, South Korea)
  • South Asia & Oceania (India, Thailand, Indonesia, Malaysia, Australia, Rest of South Asia & Oceania)
  • Middle East & Africa (GCC Countries, Northern Africa, South Africa, Turkey, Rest of MEA)

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Chickpea Protein Market Riding the Wave of Innovation and Consumer Trends, Projected to Cross US$ 165.1 Million by 2033

chickpea protein market
chickpea protein market

The global chickpea protein market is predicted to have a CAGR of 5.1% throughout the projected period, according to FMI’s analysis. The
By the end of 2033, the industry is expected to have grown from US$ 100.9 million in 2023 to US$ 165.1 million.

Growing consumer demand in the food business is expected to drive up the protein content of chickpeas. Because chickpea protein is being used so widely, it is anticipated that the food and pastry kitchen industry will expand during the next ten years. The company is anticipated to grow as consumer preferences for prepared foods and meat substitutes change.

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In the upcoming years, it is anticipated that the development of alternative meat compositions for products like snacks and dressings will spur market growth. The market is anticipated to grow as a result of chickpeas’ low cost, adaptability, and nutrient-rich qualities. The use of chickpea protein for preventing chronic diseases, managing weight, and promoting other areas of health is anticipated to drive market expansion in the years to come.

Top Highlights from the FMI’s Analysis of the Chickpea Protein Market: 

  • North America is assessed to lead the global market over the next 10 years. The United States chickpea protein industry is projected to attain US$ 53.6 million by 2033. The CAGR assumed for the United States market is anticipated to be 7% over the forecast period.
  • In the Europe region, Germany is projected to hold a significant market percentage. The German market is anticipated to attain US$ 13.21 million by 2033. Over the forecast period, the market is expected to expand at 4% CAGR.
  • The United Kingdom market is predicted to attain US$ 8.3 million by the end of 2033. Over the upcoming years, the market is anticipated to register a 6% CAGR.
  • In the European region, the Spain market is expected to exhibit significant growth, expanding at a CAGR of 2% over the forecast period. The market is set to achieve a market valuation of US$ 7.1 million by 2033.
  • Within the Asia Pacific region, China’s contribution is anticipated to stand out. By the end of 2033, the China market is expected to attain US$ 17.8 million. The market is projected to perceive a growth rate of 4% over the forthcoming years.
  • The protein isolates segment, based on product type, is expected to register a 4% CAGR, up from the 3.6% CAGR observed in the historical period.
  • The conventional chickpea protein vertical, based on nature, is projected to expand at a CAGR of 5% from 2023 to 2033, lifting from the 3% CAGR witnessed in recent years.

Key Developments Stirring Up the Marketplace

  • In March 2023, new, innovative food products developed using InnovoPro’s chickpea protein are planned to be showcased in snacks, dressings, dairy, and meat alternatives categories. These newly developed products are expected to be showcased at Natural Products Expo West 2023.
  • In September 2022, Ingredion Inc. announced its equity stake in InnovoPro, a chickpea ingredient developer.

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Chickpea Protein Market Segmentation

By Product Type:

  • Protein Isolates
  • Protein Concentrates
  • Flour
  • Other Product Types

By Nature:

  • Organic
  • Conventional

By End User:

  • Food Processing
    • Bakery & Confectionery
    • Meat Alternatives
    • Functional Foods
    • Dairy Replacements
    • Infant Foods
    • Other Food Applications
  • Animal Feed
    • Livestock
      • Cattle
      • Swine
      • Poultry
    • Pet Food
    • Aquafeed
  • Nutraceuticals
  • Sports Nutrition
  • Infant Nutrition

By Processing Type:

  • Dry Processing
  • Wet Processing

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Future Market Insights Inc.
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T: +1-845-579-5705
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Innovation in Seaweed Packaging: Advancements and Applications

Seaweed packaging, also known as seaweed-based packaging or seaweed bioplastics, refers to packaging materials derived from seaweed or algae. These innovative packaging solutions are gaining traction as sustainable alternatives to traditional plastic packaging due to their biodegradability, renewability, and low environmental impact.

The Seaweed Packaging industry to reach a valuation of US$ 682.1 million in 2023 and expected to rise to US$ 1,224.5 million by 2033, with a significant compound annual growth rate (CAGR) of 6.0% during the forecast period. The seaweed packaging industry is gaining traction due to concerns over plastic waste and the need for more sustainable alternatives.

Seaweed is a renewable resource that can be grown without land or freshwater, making it an eco-friendly packaging option. Seaweed packaging is biodegradable and compostable, making it an environmentally safe option.

Several companies are investing in product development to enhance seaweed packaging’s biodegradability characteristics. This trend is expected to continue in the future, leading to new developments and applications for seaweed packaging.

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While seaweed-based packaging is still more expensive than traditional plastic packaging, costs are expected to fall as the industry expands and new manufacturing methods are developed.

Key aspects of seaweed packaging include:

  1. Material Source: Seaweed packaging is typically made from various species of seaweed or algae, which are abundant and renewable resources found in marine environments. These marine plants are harvested sustainably or cultivated in aquaculture farms specifically for use in packaging materials.
  2. Biodegradability: One of the primary benefits of seaweed packaging is its biodegradability. Unlike conventional plastic packaging, which can persist in the environment for hundreds of years, seaweed-based materials break down naturally into non-toxic components, leaving behind minimal or no harmful residues.
  3. Renewability: Seaweed is a highly renewable resource that grows rapidly in marine ecosystems without the need for arable land, freshwater, or fertilizers. Its cultivation requires minimal inputs and can help mitigate environmental degradation associated with conventional agriculture.

Regional Analysis

Europe is a leader in seaweed packaging, with a market share of 36.2% in 2022. The region’s emphasis on sustainability and environmental protection, flourishing seaweed industry, and circular economy strategy have contributed to its adoption of sustainable packaging solutions such as seaweed-based materials.

The United States is another prominent market, with a market share of 26.5% in 2022, due to encouraging government policies. The seaweed packaging industry is poised for significant growth, and FMI’s research indicates that the future appears bright.

India’s population of over 1.3 billion presents a significant market for sustainable packaging solutions, given the growing demand for eco-friendly products. The region is projected to record a 9.4% CAGR during the 2023-2033 period. India’s high consumption of plastic has led to increased awareness of plastic waste’s environmental impact. With its extensive coastline, the country has a long history of seaweed farming and processing, providing a foundation for a seaweed-based packaging industry.

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Key Players

Amtrex Nature Care Pvt. Ltd., Apeel Sciences, Coolhaus, Devro Plc, Do Eat, JRF Technology, Lactips, Mantrose UK Ltd., Monosol LLC, Nagase America, Notpla Ltd., and Regeno Bio-Bags are among the key companies in the Seaweed Packaging Industry. To strengthen their position in the worldwide bakery premixes market, leading players are focused on tactics such as product innovations, mergers and acquisitions, latest developments, joint venture, collaborations, and partnership.

Key Segments

By Product Format:

  • Sheets
  • Films
  • Pouches
  • Boxes
  • Trays
  • Other

By Packaging Type:

  • Primary
  • Secondary
  • Tertiary

By End-Use:

  • Food
  • Personal Care
  • Cosmetics
  • Pharmaceuticals
  • Healthcare

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East & 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.

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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Visual Analytics Market Soars, Projected to Reach US$ 58,969.8 Million by 2033 with a Striking 21.4% CAGR

The visual analytics market is undergoing a significant transformation, with a remarkable annual growth rate of 21.4%. This impressive journey is projected to lead to a market size of an astounding US$ 58,969.8 million by the year 2033.

Visual Analytics refers to the use of data visualization tools and techniques to gain insights and make informed decisions. In simpler terms, it involves turning complex data into visual representations that are easy to understand and analyze.

The rapid growth in the Visual Analytics market signifies its increasing importance in various industries and sectors. Businesses and organizations are recognizing the power of visualizing data to uncover trends, patterns, and insights that might not be apparent through traditional methods. This is particularly crucial in today’s data-driven world, where the volume of information generated is vast and overwhelming.

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Big companies have been the main players in the global digital economy. They’ve invested a lot in fancy tools and systems. But there’s a problem with visual analytics – it doesn’t always work smoothly with the older systems these big companies already have.

On the other hand, we expect a big growth in handling data from all kinds of connected devices used in transportation and logistics businesses. This could lead to some great opportunities for the market.

The leading visual analytics share was held by the banking, financial services, and insurance (BFSI) industry in 2017. This was attributed to the growing need to simplify the workload related to security, and the increasing dependence on data generated from various IT systems for financial transactions.

Problems with the tools used for visual analytics can lead to mistakes, and this might slow down the growth of the market. Additionally, there’s a shortage of people who know how to use advanced business intelligence tools, which makes things even more difficult.

Issues like confusing designs that make it hard to communicate effectively can also get in the way of using visual analytics. Inconsistent data that leads to mistakes and a lack of good rules for managing data are expected to make it tough for visual analytics to work well.

Regional Insights on the Visual Analytics Market:

In 2022, North America dominated the market for visual analytics, making up a significant portion of the revenue at 22.8%. This is because the region has a thriving IT industry and is coming up with new and creative ways of doing things.

Europe earned a significant chunk of the market’s revenue, around 17.2%, in 2022, putting it in second place. The reason for this growth is the improvement of information technology systems in different countries across Europe, which is likely to help the global market expand.

The Asia Pacific market is getting bigger because more and more people want what it has to offer, and there are challenges from both around the world and from local competitors. So, we expect that important companies in this market will help make it even bigger.

Major Key Players in the Visual Analytics Market:

  • Qlik
  • Tableau
  • SAS Institute
  • I-Net software
  • IBM
  • Oracle
  • SAP SE
  • Zoomdata
  • Microsoft Corporation
  • MicroStrategy
  • TIBCO Software
  • Alteryx
  • Verint Systems
  • NICE
  • Avaya
  • ADVIZOR Solutions Pvt. Ltd.
  • Visual Analytics LLC
  • Wilson Visual Analytics
  • Chi Squared Visual Analytics
  • Host Analytics Inc.

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Visual Analytics Market Segmentation:

By Type:

  • Cloud
  • On-Premises

By End User:

  • BFSI
  • Healthcare
  • IT & Telecom
  • Retail & Consumer Goods
  • Education

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

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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Sales Projections and Growth Opportunities in the Gift Packaging Market

Businesses are turning to e-commerce platforms to elevate their sales. Even gift packaging vendors provide their solutions online and reap the benefits of economies of scale. By taking into account the recent market trends, gift packaging solutions merchants can sustain their existing customers, attract new ones, and reinforce their market presence.

The global Gift Packaging sector is on a trajectory of significant growth, with an estimated market value reaching an impressive US$ 37.4 billion by the year 2033. The demand for gift packaging is set to maintain a steady Compound Annual Growth Rate (CAGR) of 4.3% through the forecast period, starting from its current valuation of US$ 25.3 billion in 2023.

Gift box manufacturers are adapting to the evolving consumer preferences, with a notable shift towards minimal aesthetics. Prominent brands such as Zazzle and Etsy are at the forefront of this trend, offering an extensive range of minimalist design options. This reflects the growing inclination among consumers for uncluttered and understated designs in their gift packaging choices.

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Overview

  1. Personalization: Personalization adds a special touch to gift packaging, making the recipient feel valued and appreciated. This can involve customizing the packaging with the recipient’s name, monogram, or favorite colors, as well as incorporating meaningful messages, quotes, or images.
  2. Occasions: Gift packaging is often tailored to suit specific occasions such as birthdays, weddings, anniversaries, holidays, and other celebrations. Different occasions may call for different styles of packaging, ranging from playful and whimsical to sophisticated and elegant.
  3. Sustainability: With increasing awareness of environmental issues, there is a growing trend towards eco-friendly gift packaging options. Sustainable materials such as recycled paper, biodegradable plastics, and natural fibers are being used to create environmentally conscious packaging solutions.

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Key Developments in the Gift Packaging Industry

  • Manjushree Technopack Limited, a prominent packaging firm in India, acquired Classy Containers, one of the biggest custom-model rigid packaging firms, in August 2021. This development will help Manjushree Technopack Limited strengthen its position in this robustly flourishing market.
  • Gift Wrap My Face, a self-portrait wrapping paper promoted by Khloe Kadarshian, Oprah, and Whoopi Goldberg, was developed by two ad agency creatives and acquired by Build A Head LLC in November 2021. The involved brands offer customized products for holidays, birthdays, anniversaries, birth announcements, graduations, and more. Apart from this, the brands exemplify the firm’s dedication to providing delights in all achievements of life goals.
  • In April 2022, GLS and Elopak revealed a joint venture in which both firms have 50% ownership. The resultant company, GLS Elopak, will leverage the respective assets, expertise, and networks of GLS and Elopak to capture the substantial consumer demand in India. The company was founded to produce and process high-quality aseptic and fresh packaging solutions designed to ascertain the safety and accessibility of liquid food to consumers worldwide.

Key Players

  • Hallmark Cards
  • Packlane
  • Smurfit Kappa Group
  • Ebro Colour GmbH
  • Interpack
  • Card Factory
  • DS Smith plc
  • IG Design Group plc
  • Karl Knauer KG
  • Mondi plc
  • Manjushree Technopack Limited
  • Qwikcilver Solutions
  • Diageo

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Key Segments

By Packaging Type:

  • Primary
  • Secondary
  • Tertiary

By Product Type:

  • Gift Boxes
  • Containers
  • Ribbon & Bows
  • Gift Sacks
  • Gift Bags
  • Wrapping Paper
  • Tissue Paper & Shreds
  • Cellophane Over Wrap & Bags
  • Gift Cards & Money Holders
  • Others

By Material:

  • Plastic
  • Paper & Paperboard
  • Metals
  • Glass
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets.

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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Tourist Virtual Reality Headsets Market to Attain US$ 994.4 Million by 2033 | FMI

Tourist Virtual Reality Headsets Market
Tourist Virtual Reality Headsets Market

The market size for tourist virtual reality headsets was valued at US$ 610.0 million in 2023, and it is anticipated to grow at 5.0% annually to reach US$ 994.4 million by 2033.

The tourism industry has witnessed significant advancements in recent years and one of the notable developments is the integration of virtual reality (VR) technology. Virtual reality headsets offer immersive and interactive experiences that allow tourists to explore destinations and attractions virtually. These headsets provide users with a simulated environment replicating real-world experiences, enhancing the overall travel and tourism experience.

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VR headsets enable individuals to explore different tourist destinations without physically being present, offering a cost-effective and convenient alternative for travel enthusiasts. Tourists can virtually visit landmarks, museums, and natural wonders and even participate in virtual tours of popular cities or historical sites.

Furthermore, virtual reality headsets have become more accessible and affordable in recent years, contributing to their growing popularity among tourists. The advancements in VR technology have led to the development of more compact, lightweight, and user-friendly headsets.

The application of virtual reality in the tourism industry extends beyond individual travelers. Tourist attractions, travel agencies, and hospitality providers have also recognized the potential of VR technology to enhance their offerings.

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Despite the promising growth and opportunities, the tourist virtual reality headsets market still faces challenges. One of the primary concerns is the requirement for high-quality content creation to ensure engaging and realistic experiences. Developing immersive VR content requires substantial investment and expertise. Additionally, the need for high-speed internet connectivity and hardware compatibility can limit the widespread adoption of VR headsets.

The tourist virtual reality headsets market in India is progressing with a 6.2% compound annual growth rate (CAGR). Virtual tours on virtual reality headsets are driving the market in India, allowing travelers to explore the country’s cultural and historical sites remotely.

United Kingdom: The outlook for the tourist virtual reality headsets market in the country is positive, with a projected 4.4% CAGR. The United Kingdom’s strong tourism industry and the increasing popularity of virtual reality experiences contribute to the market’s growth.

Australia: The tourist virtual reality headsets sector in Australia is increasing, with a 5.8% value share in 2022. Australia’s diverse tourism offerings and iconic landmarks make it an attractive destination. Virtual reality headsets allow tourists to experience these attractions virtually, generating excitement and engagement.

Product Material: Fiber virtual reality headsets may have more demand in the tourist virtual reality headsets market, capturing a value share of 28.0%. Fiber headsets are lightweight, durable and allow users to move freely without discomfort.

End Use: Travel agencies and hotels are the preferred users of tourist virtual reality headsets, capturing a 25.0% value share in 2022. These industries utilize virtual reality to offer customers a ‘try before you buy’ experience, allowing them to preview tours and services.

Competitive Landscape

  • HTC Corporation has released the HTC Vive VR Wireless Headset, which includes an input controller to improve the 360-degree VR experience.
  • Microsoft Corporation principally develops and engineers software, personal computer services, and consumer products. Microsoft has also announced the release of their mixed reality (MR) mounted display, which provides a holographic augmented reality experience.

Key Segments

By Device Types:

  • Head Mount Display
  • Gesture Tracking

By Product Material:

  • Metal
  • Fiber

By Deployment:

  • Cloud-Based
  • Web-Based

By Application:

  • Travel Agencies
  • In-flight Entertainment
  • Travel Booking Services
  • Hotels Tours

By Booking Channel:

  • Online Booking
  • In-person booking

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 Regions:

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

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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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