Savoring Success: Processed Beef Market Anticipates a Hearty US$ 314.5 Billion Valuation by 2033

According to FMI reports, the global processed beef market can soar at a rate CAGR of 9% from 2023-2033. The market share of the processed beef industry is predicted from US$ 133.4 Bn in 2023 to over US$ 314.5 Bn by 2033.

Globalization and the popularity of different cuisines have led to an increase in beef consumption globally due to shifting consumer habits and lifestyles over the past few decades.

In addition to the increasing consumption of packaged foods, the manufacturing sector is expected to grow rapidly. Over the next ten years, increasing demand for halal and kosher beef products is predicted to create an opportunistic environment for both established and incoming processed meat companies.

Several processed beef manufacturers are also launching brand-new products, including ham cold cuts, dry-aged beef, salami cold cuts, and deli meats. To increase sales potential, processed beef manufacturers have been introducing various flavors to increase their sales. Since processed beef is healthy, natural, and sustainable, it is becoming increasingly popular.

The demand for ready-to-eat food products has grown due to the busy lifestyles of the millennial generation. The population of individuals living far from home for education and employment is on the rise globally.

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Key Takeaways from the Processed Beef Market Study

  • The global processed beef market expanded at 7.9% CAGR from 2016-2022.
  • Sales of chilled processed beef are anticipated to grow at a CAGR of 8.4%.
  • The consumption of processed beef in India is expected to showcase a higher rate of growth at a CAGR of 12.7% over the forecast period.
  • The demand for processed beef in South Korea is expected to grow at a CAGR of 11.9%

Competitive Landscape for the Processed beef Market

To expand their product manufacturing capabilities, portfolios, and global presence, companies operating in the processed beef market seek to diversify and form strategic partnerships with other manufacturers. In the processed beef market, top competitors are investing in new technologies to improve shelf life, texture, and flavor. In addition, some firms are expanding into emerging nations to gain a competitive advantage.

JBS SA, Hormel food , Harim Co Ltd, Tyson Foods Inc., Danish Crown A/S, Cargill Meat Solution Corp., WH Group, BRF SA, Smithfield Foods, Inc., SYSCO Corp, and others, the market is growing and establishing a strong global presence.

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Recent Developments in the Processed Beef Market

  • In August 2022, Tyson Foods announced it would expand its Caseyville Prepared Foods Facility. As a result of the US$180 million investment, the Hillshire Farm® and Jimmy Dean® brands will be able to meet growing demand. Production is expected to begin in the fall, followed by expansion in the summer of 2023. It will allow more grab-and-go snacking and breakfast items to be produced at the Caseyville plant, where Hillshire Farm® and Jimmy Dean® products are produced. The 170,000 square feet expansion will allow this production to grow.
  • As an exclusive product for beef enthusiasts, Makro Food Service Sukhumvit 22 Branch, Thailand, introduced dry-aged Australian beef in March 2022.
  • In July 2022, BRF Sadia inaugurated its new plant in Dammam, Saudi Arabia, Al Joody, by which it increased its production capacity to 1,200 tons per month. This will play a crucial role in the growth and development of the poultry industry locally.

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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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Retail Glass Packaging in GCC: Predicted Growth at 7.1% CAGR by 2033 – Insights, Trends, and Future Prospects

GCC Retail Glass Packaging Industry
GCC Retail Glass Packaging Industry

In 2023, the retail glass packaging sector in the GCC is anticipated to reach a total of US$ 778.3 million, with projections soaring to US$ 1,548.9 million by 2033. Across the forecast period, demand for retail glass packaging in the GCC is expected to surge at a Compound Annual Growth Rate (CAGR) of 7.1%. As of the conclusion of 2022, revenue from retail glass packaging in the GCC stood at US$ 715.9 million, with an estimated year-on-year (y-o-y) growth of 8.7% projected for 2023. This trajectory indicates robust expansion and a promising outlook for the retail glass packaging industry in the GCC region.

The demand for retail glass packaging in the GCC is poised for growth, driven by various factors such as the burgeoning food and beverage, pharmaceuticals, and cosmetics industries. Additionally, the rapid expansion of the population, urbanization trends, and a rising requirement for glass packaging solutions in the GCC region are anticipated to contribute significantly to the increased demand.

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GCC Retail Glass Packaging Industry – Boosting Factors

  • Expansion of key sectors like food and beverage, pharmaceuticals, and cosmetics driving demand.
  • Rapid population growth in the GCC region contributing to increased need for glass packaging solutions.
  • Urbanization trends leading to higher demand for retail glass packaging.
  • Rising consumer preference for eco-friendly and sustainable packaging materials favoring glass packaging.
  • Government regulations promoting the use of recyclable materials further boosting the retail glass packaging industry.
  • Technological advancements enhancing the quality and versatility of glass packaging products, increasing their appeal to businesses and consumers alike.
  • Growing awareness among consumers regarding the benefits of glass packaging, including its ability to preserve product freshness and purity, driving demand.

Business Growth Drivers:

  1. Increasing Consumer Awareness: There’s a growing awareness among consumers regarding the environmental impact of packaging materials. Glass is perceived as a more sustainable option compared to plastic, leading to increased demand for glass packaging in retail.
  2. Preference for Premium Packaging: With rising disposable incomes and a burgeoning middle class in the GCC region, there’s a preference for premium products packaged in glass, especially in segments like cosmetics, perfumes, and high-end food and beverages.
  3. Regulatory Support: Governments across GCC countries have been implementing regulations to reduce plastic usage and promote sustainable packaging. This includes initiatives such as bans on single-use plastics, which indirectly benefit the glass packaging industry.
  4. Health and Hygiene Concerns: Glass packaging offers better protection against contamination and preserves the quality and freshness of products, especially in the food and beverage sector. Heightened health and hygiene concerns post-COVID-19 have further boosted the demand for such packaging materials.
  5. Product Differentiation and Branding: Glass packaging offers excellent opportunities for product differentiation and branding. Many companies in the region are leveraging unique bottle designs and labeling techniques to enhance their brand image and attract consumers.
  6. Growth in End-use Sectors: Industries such as alcoholic beverages, pharmaceuticals, cosmetics, and gourmet food products are experiencing growth in the GCC region, driving the demand for glass packaging solutions tailored to these sectors.

Industry Restraints:

  1. Cost Considerations: Glass packaging tends to be more expensive compared to plastic alternatives. This cost factor can pose a challenge for companies, particularly those operating in price-sensitive markets or dealing with low-margin products.
  2. Fragility and Transportation Costs: Glass packaging is fragile and requires careful handling during transportation and storage, which adds to logistics costs. In a region where long-distance transportation is common, this can be a significant restraint.
  3. Limited Recycling Infrastructure: While glass is recyclable, the GCC region faces challenges in terms of limited recycling infrastructure. This can impact the sustainability credentials of glass packaging and hinder its adoption, especially as environmental concerns continue to rise.
  4. Competition from Alternative Materials: Despite the push towards sustainability, alternative packaging materials such as aluminum, bioplastics, and composites are gaining traction. These materials offer advantages like lighter weight and lower transportation costs, posing a competitive threat to glass packaging.
  5. Supply Chain Disruptions: Disruptions in the global supply chain, such as those caused by geopolitical tensions or pandemics, can affect the availability and cost of raw materials for glass production, impacting the overall industry dynamics.
  6. Limited Domestic Production Capacity: The GCC region relies heavily on imports for glass packaging materials due to limited domestic production capacity. Dependence on foreign suppliers exposes companies to risks related to currency fluctuations, trade regulations, and geopolitical instability.

Key Players:

  • Saudi Arabian Glass Company
  • Saverglass SAS
  • National Company for Glass Industries (Zoujaj)
  • Majan Glass Company SAOG
  • Frigoglass SAIC
  • RAK Ghani Glass LLC
  • Al Wara
  • Unitrade FZE
  • Jebel Ali Container Glass Factory
  • Gulf Glass Manufacturing Co. K.S.C (GGMC)
  • Pragati Glass Gulf LLC

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GCC Retail Glass Packaging Industry Analysis by Category

By Packaging Formats:

  • Bottles
  • Jars
  • Vials
  • Ampoules
  • Syringes
  • Cartridges
  • Others (Descanters, Containers)

By Grade:

  • Type I
  • Type II
  • Type III
  • Type IV

By Capacity:

  • Up to 50 ml
  • 51 to 250 ml
  • 251 to 750 ml
  • Above 750 ml

By End-use:

  • Food
    • Sauces & Jams
    • Spices & Condiments
    • Tea & Coffee
    • Bakery & Confectionery
    • Snacks
    • Olive Oil
    • Dairy
  • Beverages
    • Alcoholic Beverages
      • Wine
      • Beer
      • Spirit
    • Non-alcoholic Beverages
      • Soda
      • Juices
      • Mineral Water
      • RTD
  • Personal Care & Cosmetics
    • Perfumes
    • Color Cosmetics
  • Pharmaceuticals
    • Syrups
    • Probiotics
    • Vitamin Supplements
  • Other Industrial

By Country:

  • Kingdom of Saudi Arabia
  • United Arab Emirates
  • Kuwait
  • Bahrain
  • Oman
  • Qatar

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

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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Exploring Growth Horizons in the Fermented Ingredients Market, Projected to Reach US$ 93.9 Billion by 2033

Fermented Ingredients Market

The fermented ingredients market is predicted to grow at a CAGR of 6.7% over the forecast period, according to FMI’s analysis. The industry’s value is anticipated to increase from US$ 48.9 Bn in 2023 to US$ 93.9 Bn by 2033 end.

Sales of fermented ingredients are expected to represent a significant proportion of the global food additives market. Fermented substances are acidic elements that are frequently used in food preservation activities for the preparation of fermented ingredients food. The major driving force behind their acceptance in the food processing sector is their ability to improve product shelf life.

The global market for fermented ingredients is expanding as people become more aware of the importance of food preservation. The public’s growing health awareness of the advantages of eating fermented foods is accelerating market expansion.

Tempeh, Kimchi, kombucha, and yogurt may all be prepared using items that have undergone fermentation. These ingredients contain good bacteria that split down carbohydrates, starch, and sugars in meals. In keeping with this, the pharmaceutical industry’s rising demand for fermented components is also fostering the market growth.

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Key Takeaways from the Fermented Ingredients Industry: 

  • The United States is predicted to retain its inordinate share of the fermented ingredients market in the coming years. By 2033, the American market is estimated to reach US$ 31.7 Bn, expanding at a CAGR of 6.2% over the forecast period. The extensive manufacturing infrastructure in the country supports the market growth.
  • Over the span of next 10 years, China is anticipated to emerge as the fastest growing market for fermented ingredients. Demonstrating a CAGR of 10.9%, the market valuation of Chinese fermented ingredients market would be US$ 9.7 Bn, second to the US market.
  • Next in line is Japan market, which is assessed by FMI experts to arrive at US$ 4.5 Bn by 2033, displaying a CAGR of 8.8% in the meantime. The country witnesses high demand for fermented products and offers favorable environment factors conducive to the growth of bacteria that supports fermentation. Close integration of fermented foods with Japanese’ lifestyle is a key factor propelling the demand for fermented ingredients.
  • Dry form of fermented ingredients are the most preferred items by masses world over. This could be attributed to its prolonged shelf life as compared to its liquid counterpart. The growth rate of dry fermented ingredients is expected to expand at a CAGR of 6.1%.

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New Developments Providing Stimulus to the Fermented Ingredients Market:

  • In September 2022, Angel Yeast, an international manufacturer of yeast, launched premium dry yeast low-sugar and high-sugar varieties, which are user-friendly, fast, and high-quality ingredients that cater to the dynamic consumer expectations and baking challenges.
  • In April 2022, Biochem Limited and Kothari Fermentation launched mono oligo saccharides and yeast extract powder. This product is primarily employed in the pharmaceutical sector. Apart from that, the product also finds application in low calorie food, food and food stuff, beverages, dietary foods, soups, nutritional filler, seasonings, etc.
  • In June 2022, BASF’s Care Creations launched two new skin care ingredients that support graceful and healthful skin aging. These biotic ingredients are based on bacterium that is naturally found in youthful skin. These products are developed using bio fermentation process.

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Market Segments Covered in Fermented Ingredients Market Analysis

By Form:

  • Liquid
  • Dry

By Product Type:

  • Amino Acids
  • Organic Acids
  • Biogas
  • Polymer
  • Vitamins
  • Antibiotics
  • Industrial Enzymes

By Application:

  • Food & Beverages
  • Pharmaceuticals
  • Paper
  • Feed
  • Personal Care
  • Biofuel
  • Others

By Process:

  • Batch Fermentation
  • Continuous Fermentation
  • Aerobic Fermentation
  • Anaerobic Fermentation

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • 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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Nurturing the Future Infant of Formula Ingredients Market Sets Sights on US$ 78,818.9 million by 2033

Infant Formula Ingredient Market
Infant Formula Ingredient Market

During the forecast period, the infant formula ingredients market is expected to expand at a CAGR of 6.3%. Beginning the forecast period in 2023 with a market value of US$ 42,645 million, it is likely to reach a valuation of US$ 78,818.9 million by 2033.

It is anticipated by the expert analysts at FMI that there is an unprecedented surge in the market size of infant formula ingredients as it is being largely fed to babies for their overall development. Although physicians recommend exclusive breastfeeding for babies under 6 months, infant formula can be used as an alternative.

It is gaining rapid traction in the global forum because it has similar nutrient contents and is being widely adopted by working women with infants. The FMI analysts have revealed that consumer attitudes have changed significantly in recent years due to the growth of the global food business since consumers are now more knowledgeable about the components of food and beverage goods before making a purchase. This is particularly true when it comes to ingredients for infant formula, which mostly consists of components for food preparations meant for infants younger than one year of age.

With parents’ preferences to maintain the necessary levels of nutrition for their newborns, the use of baby formula ingredients has increased. Therefore, it is anticipated that the infant formula ingredient market is likely to have significant growth during the forecast period.

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Key Takeaways:

  • The United States holds a significant market share of 18.9% in the infant formula market, highlighting its strong presence and leading position as a major consumer and producer of infant formula products.
  • Germany maintains a notable market share of 8.6% in the infant formula market, emphasizing its significant contribution and role in providing high-quality and nutritious infant formula options to meet the needs of infants and their families.
  • Japan accounts for 6.9% of the market share in the infant formula industry, showcasing its importance as a key player in the market and its commitment to offering reliable and quality infant formula products.
  • Australia contributes to the infant formula market with a market share of 3.5%, underscoring the country’s role in providing safe and nutritious infant formula options for the well-being of infants and their development.
  • China experiences a compound annual growth rate (CAGR) of 6.3% in the infant formula market, indicating a steady growth trajectory and increasing demand for infant formula products driven by factors such as population growth, urbanization, and rising disposable incomes.
  • India demonstrates a robust CAGR of 9.7% in the infant formula market, highlighting the country’s expanding consumer base, growing awareness about infant nutrition, and rising demand for high-quality and nutritious infant formula products.
  • The United Kingdom showcases a CAGR of 7.6% in the infant formula market, reflecting its sustained growth and continuous efforts to provide safe and reliable infant formula options, meeting the changing needs and preferences of parents and caregivers.

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Competitive Landscape:

The leading suppliers of infant formula ingredients are found to be engaging in aggressive business practices such as several mergers and acquisitions, capital expansion and strategic alliances. Leading businesses are also bringing their focus to boosting the productivity of their companies through technological innovation and increasing the share of their sector. Manufacturers who are active in the infant formula ingredients market are also constantly working on research and development to create products that meet consumer demands.

The following are the actions taken by some leading companies in the market:

  • In February 2018, Arla Foods announced its plans to invest £70 million in the United Kingdom, as a part of its strategy to secure long-term opportunities for its farmers all over Europe.
  • In April 2022, Kerry Group acquired Natreon, Inc, a United States-based supplier of branded Ayurvedic botanical ingredients.

Some other leading players in the market are:

  • Co-operative Group Limited
  • AAK AB
  • Royal Friesland Campina N.V.

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Key Segments in the Infant Formula Ingredients Market

By Ingredient Type:

  • Fats & Oils
  • Minerals
  • Proteins
  • Vitamins
  • Carbohydrates
  • Prebiotics
  • Others (Probiotics, Nucleotides, and Emulsifiers)

By Source:

  • Soy
  • Protein hydrolysates
  • Cow Milk
  • Others (Goat milk and camel milk)

By Application:

  • 0 to 6-month-old infants
  • 6 to 12-month-old infants
  • Infants over 12 months
  • Specialty Formula

By Form:

  • Powder
  • Liquid & semi-liquid

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 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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Unlocking Yeast’s Potential: Inactive Dried Yeast Market Poised for Remarkable Growth, Aiming for CAGR of 8% by 2032

Inactive Dried Yeast Market

Conventional inactive dried yeast is expected to hold about 96.9% share in the global inactive dried yeast market. The demand from the animal feed industry is rising, giving impetus to the market. Usage of inactive dried yeast in animal feed improves its nutritional content and quality of the final product. This indicates the rising usage of inactive dried yeast in the animal feed industry. Along with that prevalence of chronic diseases such as diabetes, high cholesterol, obesity, and cardiac arrests influence consumers to follow specific diets to minimize risk of such diseases. Whereas inactive dried yeast are low in sodium and salt-free products.

In the coming years, the inactive dried yeast market will witness high sales opportunities, spurred by the increasing demand from the animal feed industry. Adding inactive dried yeast improves the palatability of animal feed, in turn stimulating feed intake. Besides this, it improves immunity system and performance of livestock. Knowledge about these benefits, will boost sales of inactive dried yeast in the coming years.

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Key Takeaways from the Inactive Dried Yeast Market Study

  • The global inactive dried yeast market has been segmented on the basis of form, in terms of which powder form holds the major share. However, in the coming years, the capsule form is expected to show optimistic growth due to its increasing use in different industries for multiple purposes.
  • Western Europe and North America are anticipated to dominate the global inactive dried yeast market in terms of value. The demand for inactive dried yeast is considerably high in Latin America, which is expected to show a high growth rate over the forecast period. Due to the increasing health consciousness among the people and their awareness regarding chemical ingredients and their effect on human health, the demand for inactive dried yeast is rising in Latin America.

“The market for inactive dried yeast is driven mainly by increasing consumption of natural and plant-based food. The market will therefore gain from the ongoing trend of vegan food. Additionally, the tendency of the consumer to adopt the Western style of food habits in emerging countries is increasing the opportunity for inactive dried yeast in the global market owing to the high usage of inactive dried yeast in the backing and confectionary.” says FMI report

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Who is winning?

Some of the key players operating in the inactive dried yeast market Koninklijke DSM N.V., Lallemand, Inc., Leiber GmbH, Bio Springer S.A., Associated British Foods Plc, Titan Biotech Limited, Tangshan Top Bio-Technology Co., Ltd., The Archer Daniels Midland Company, Angel Yeast Co., Ltd., Prosol S.p.A., Kormaprom LLC, Sojuz Produkt Pitaniya, Biorigin, Now Food, Kothari Fermentation and Biochem Ltd., and others.

The global inactive dried yeast market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

Sales Channel

  • B2B
  • B2C
    • Modern Trade
    • Specialty Store
    • Convenience Store
    • Online Retail
    • Other Sales Channels

Nature

  • Organic
  • Conventional

Form

  • Powder
  • Flakes
  • Tablet
  • Capsule

Fortification

  • Fortified
  • Unfortified

Application

  • Food & Beverage
    • Bakery & Confectionery
    • Beverages
    • Soups, Sauces, & Seasonings
    • Functional Foods
  • Dietary Supplements

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Several leading market players are opening new units to expand their footprint and product portfolio. Along with that they are adapting new strategies to compete in the market. Besides this, partnership often allows them to gain a competitive advantage.

  • Angel Yeast announced the opening of the second factory in Egypt is expected to be operational. (Production capacity of 35,000 MT).
  • ICC Brazil and Lallemand Inc. entered into the partnership for research, development, and supply of inactive yeast products and derivatives from sugar cane ethanol. Supply of yeast cell wall products and yeast derivatives form ICC Brazil will be marketed under the Lallemand under its brand.
  • Biorigin announced to start the expansion plan of its production in Louisville, U.S. with US$ 3.5 Mn. Which will start in 2019. This venture will double the production capacity of its bio enhance line.

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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Cruise Tourism Market Sets Course for an Exciting 12.1% CAGR, Aiming at a Staggering US$ 17.8 Billion by 2033 | FMI

Cruise Tourism Market
Cruise Tourism Market

It is predicted that the cruise tourism market, which had a market value of US$ 5.3 billion in 2022, will increase to US$ 17.8 billion by 2033, with a CAGR of 12.1% from 2023 to 2033.

The disposable income is a critical driver for the cruise tourism business. People are more inclined to spend money on travel and leisure pursuits, such as cruise vacations, when they possess more money to spend. Individuals and their families often have more discretionary cash as the world economy grows, which increases their propensity to travel and explore new places.

When disposable income rises, more lavish and opulent vacation options, like cruises, are more probable to be considered. A variety of activities, entertainment, food choices, and excursions may be found on board a cruise ship in one handy package. People are more inclined to pick a cruise holiday as a means to enhance their travel experience since they have additional money to spend. In the following years, it is projected that these factors would accelerate the expansion of the cruise tourist sector.

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There are several potential for luxury tourism in the cruise business. Gourmet meals, spa facilities, and individualized attention from highly skilled crew are just a few of the services and facilities that luxury cruise ships provide to meet the needs of wealthy passengers. Private islands, upscale shopping, as well as VIP access to several cultural landmarks are just a few of the distinctive and exclusive experiences that many luxury cruise companies provide. Travelers who seek exclusivity, comfort, and excellent service may find this appealing. Demand for luxurious cruise vacations has been rising gradually. Factors as these are the main reasons behind propelling the global growth of the cruise tourism market from 2023 to 2033.

Key Takeaways from the Market Study

  • The global scope of the cruise tourism market increased significantly between 2018 and 2022, with a CAGR of 8.3%.
  • According on tourist type, river cruises were predicted to hold a market share of more than 35% in 2022.
  • The North American area is predicted to account for 33.5% of worldwide cruise travel.
  • According to FMI estimates, the European cruise tourism sector will hold a 28.9% share in 2022.

Competitive Landscape

Prominent players in the cruise tourism market are:

  • AmaWaterways LLC
  • Ambassador Cruise Holidays Ltd.
  • American Cruise Lines, Carnival Corp., and Plc
  • Compagnie du Ponant
  • Cosmos Tours Ltd.
  • Genting Hong Kong Ltd.
  • Kerala Shipping and Inland Navigation Corp. Ltd.
  • LaVista Travel
  • MSC Mediterranean Shipping Co. SA
  • Norwegian Cruise Line Holdings Ltd.
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The major companies are using a variety of growth tactics, including new acquisitions, launches, and collaborations, to support the expansion of the global cruise tourism industry.

Key Segments Profiled in the Cruise Tourism Market

By Cruise Type:

  • Adventure Cruises
  • Classic Cruises
  • Luxury Cruises
  • River Cruises
  • Others

By Tourist Type:

  • Independent Traveller
  • Tour Group
  • Package Traveller

By Region:

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

About Future Market Insights (FMI)

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

Future Market Insights Inc.
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A Culinary Revolution of Tempeh Market Poised to Reach a Valuation of US$ 6.8 billion by 2033

Fortified Yeast Market
Tempeh Market

From 2023 to 2033, the global tempeh market is predicted to rise at a 5% CAGR and are predicted to reach around US$ 6.8 billion by 2033.

A sizable portion of the population wishes to either avoid or reduce their meat consumption by becoming vegan or vegetarian or by becoming flexitarians or meat reducers. As a result, high-quality protein sources that also contain other nutritional elements like vitamins and minerals, particularly vitamin B12, are in demand.

Consumers believe that a plant-based diet and tempeh use to promote good health while also being environmentally beneficial, therefore, interest in these products is fast expanding. Plant-based and plant-based proteins unquestionably represent a significant trend that will play out in research, politics, and food systems over the next decade, at the very least. As a result, the demand for plant-based meals like tempeh is not only growing but is also being viewed as a permanent shift in diet, driven by a number of variables and consumer types.

Because tofu is the most similar analog for a meat substitute, additional soy food items such as tempeh are gaining popularity. Foods made from soy, such as tempeh and tofu, provide a wide range of economic benefits, from agricultural to commercial.

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Key Takeaways

  • Germany Leads with Strong Growth: Germany establishes itself as a significant player in the international market, with a strong 5.9% value share in 2022.
  • India Advances: The Indian tempeh market has shown extraordinary growth, and in 2022 it will hold a sizeable 14.1% value share, indicating enormous potential and opportunity.
  • Stable Performance in the United Kingdom: With a respectable 5.4% value share in 2022, the U.K. retains a strong presence in the tempeh market, demonstrating stability and continuous development.
  • China’s potential Position: Thanks to its substantial customer base, China is likely to hold a 4.4% value share of the worldwide tempeh market in 2022, indicating potential growth prospects.
  • Australia and Japan Display Resilience: The market for tempeh in Australia (2.6%) and Japan (3.6%) is expanding steadily, demonstrating the countries’ resilience.

Competitive Landscape

Many small and major businesses are vying for market share in the fiercely competitive tempeh market. In the upcoming years, there will still be fierce rivalry in the tempeh industry. The rising demand for tempeh and the rising number of businesses joining the market are to blame for this. Businesses with distinct product offerings and excellent customer support are more likely to succeed in the marketplace.

Tempeh Queen:

Tempeh Queen: Based in Portland, Oregon, Tempeh Queen is a small, independent tempeh manufacturer. In 2009, two friends who were passionate about producing tasty and environmentally friendly tempeh launched the business. To make its tempeh, Tempeh Queen employs organic soybeans and a conventional fermenting method. Additionally, the business sells a range of tempeh items, such as burgers, crumbles, and skewers.

Noble Bean:

Since 1994, Noble Bean, a Canadian business, has been making tempeh. The business offers its goods in both the US and Canada. Noble Bean is renowned for producing premium tempeh using organic soybeans and a time-honored fermentation method. Additionally, the business sells a range of tempeh items, such as burgers, crumbles, and strips.

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Small World Foods:

A company called Small World meals makes a range of vegan meals, including tempeh. Two friends who were passionate about creating wholesome and sustainable food launched the business in 1989. To make its tempeh, Small World Foods uses organic soybeans and a conventional fermentation procedure. Additionally, the business sells a range of tempeh items, like as burgers, crumbles, and dogs.

Gardein:

Tempeh is one of the many plant-based foods produced by the firm Gardein. Two friends who were passionate about creating wholesome and sustainable food launched the business in 1995. To make its tempeh, Gardein employs organic soybeans and a conventional fermentation procedure. The business also sells a range of tempeh items, such as meatballs, nuggets, and breakfast burgers.

Recent Developments

  • Several new tempeh products have been introduced in recent years by well-known food manufacturers like Lightlife, Tofurky, and Amy’s Kitchen. This is a sign that the tempeh market is maturing and that consumer interest in tempeh products is rising.
  • The popularity of recipes and foods made using tempeh has increased recently. This is a result of tempeh’s rising popularity and the expanding selection of tempeh recipes available online and in cookbooks.

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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:

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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Casino Hotel Market Set to Reach US$ 321.4 Billion by 2033 | FMI

Casino Hotel Market
Casino Hotel Market

With a compound annual growth rate (CAGR) of 4.8% from 2022 to 2032, the worldwide casino hotel market is expected to reach an estimated US$ 321.4 billion by 2033, from US$ 191 billion in 2022.

A casino hotel is a facility that provides temporary lodging services, casino services and restaurant – bar services. The customers are benefitted by both lodging as well as gambling (casino) facilities. As both these offerings are available under one roof it becomes very convenient for the customers as they can enjoy all benefits without moving to different places (lodging, food, and casino in one place).

The casino hotel industry has witnessed a phenomenal growth in the last few years. This has enabled the sector investors to invest and establish many luxurious casino hotels in several prime regions.

The casino hotel industry spawns revenues from various services and amenities such as food, beverages, entertainment, gaming and casino, dining, rooms and lodging, get-together facilities and so on. There are many casino hotels across the globe and these are taking over the lodging and hotel industry in terms of tourist preference at a faster rate.

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The trend of the casino hotel industry is to make available different facilities in the luxury tourism sector to attract more customers and ensure the long stay of these customers to enjoy and experience the casino hotel property. This industry is perceived as glamorous. The growth of the casino hotel industry is generally seen in spring and summer seasons rather than winter as people prefer travelling during favourable weather conditions.

Casino Hotel Industry: Push Factors

There are many aspects that contribute to the exponential growth of the casino hotel industry. This industry plays a major role in the economic development of a country. Moreover, it provides a wide range of career opportunities such as supervisors, gaming managers, slow machine supervisors, security guard positions, gaming dealers etc.

It also provides opportunities in other areas such as accounting, food services, advertising, event production and management, and so on. It does not require any additional qualifications for these posts and hence people find it even more convenient to earn from the glamorous world of the casino hotel industry.

The casino hotel industry has a strong record of internal promotions of their workers and staff based on their performance and this adds to the popularity aspect of this industry. It also helps the government by generating tax revenues. Consumer spending on the tourism sector has increased after the economic growth due to high disposable income.

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Online reservations make it easier and convenient for the tourists as well as the staff members to make accommodation changes and also exchange information regarding current offers, best deals etc. This convenience aspect leads to an increase in the number of travellers on any given day.

Casino Hotel Industry: Pull Factors

Economic recession is a major challenge faced by the casino hotel industry. Owing to the possible downturn of the economy, the demand in this sector could be in the declining phase resulting in dropping sales figures. Further, the reduction in domestic as well as international travels would be a major detrimental factor to the growth of the casino hotel industry as it relies on the tourists and their footfall in the various casino hotel facilities.

Casino Hotel Industry: Key Regions

The casino hotel industry is popular in the United States, Macau, Australia, China, Singapore and South Korea. The emerging economies in the Asia Pacific region reflect high growth potential. The United States is a relatively bigger market for the casino hotel industry.

The Major Key Players in this market include:

  • Palms Casino Resort
  • Caesars Entertainment Corporation
  • City of Dreams Manila
  • Eldorado Resort Casino
  • Foxwoods Resort Casino
  • Galaxy Entertainment Group Ltd
  • MGM Resorts International
  • Palms Casino Resort
  • DraftKings Inc.
  • Wynn Resorts Limited

Key Segments in the Casino Hotel Market

By Type:

  • Poker
  • Blackjack
  • Roulette
  • Slots
  • Others

By Consumer Orientation:

  • Men
  • Women

By Age Group:

  • 18 to 35 Years
  • 36 to 50 Years
  • 50 Years and Above

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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Customized Holidays Market Eyes a Striking US$ 406.7 Billion Valuation by 2033 | FMI

Customized Holidays Market
Customized Holidays Market

The customised holidays market had an estimated share of US$ 105 billion in 2022, and it is anticipated to rise at an annualized rate of 13.1% from 2023 to 2033 to attain a market value of US$ 406.7 billion.

The scope for customised holidays growth is anticipated to be driven by the travel industry’s quick development, as well as by rising disposable income and several other variables. Customised vacations are created purely based on the preferences specified by an individual or a group of tourists. This differs from package trips, where the consumer must select their preferences based on the travel agent’s predetermined schedule.

Customized packages provide a number of benefits, one of which is that nothing is required of us, contrasting packaged group travel, where we are required to do what the travel agency directs. If they choose for customized packages, tourists have complete freedom to choose what to do as well as where to go. It is anticipated that this would increase demand for customised holidays.

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Another aspect driving the market’s growth is the rising older population. In contrast to younger generations, who want unique and independent travel, older generations remain interested in package vacations since they are simple, hassle-free, and insured. The growth of the sector is being constrained by the rising popularity of FIT tourism, or the free independent traveler tourism. Customers that are looking for unusual experiences go alone or in small groups. Europe is increasingly becoming a sought-after location for this form of customised tourism compared to other continents.

Key Takeaways from the Market Study

  • According to FMI estimates, the worldwide market for customised vacations would be worth US$ 64.17 billion in 2018.
  • Sales in the market for customised vacations increased significantly between 2018 and 2022, achieving a CAGR of 4.2%.
  • Young travelers accounted for almost 44.8% of the worldwide market share in 2022.
  • By mode of booking, the travel agency category held a 34.6% market share in 2022.
  • With a market share of 33.3% in 2022, Europe will continue to dominate the market for personalized vacations.
  • The North American market for personalized vacations was predicted to reach a market share of 24.5% in 2022.
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Key players in  the Customised Holidays Market

  • Scott Dunn Ltd.
  • Rainbow World Tours
  • Tours in the City
  • Thomas Cook
  • TCS World Tours
  • Expedia travels
  • REWE Group
  • Flamingo Travels
  • Redback Travel
  • Nest Travels
  • Zicasso
  • MakeMyTrip

Competitive Landscape

The following are some significant advancements in the customised holidays industry:

  • For many years, a reputable organization called Rainbow Trade Fair Tours has arranged both group and lone travel to overseas trade exhibits. The business just celebrated its 17th year in business in 2023 and was recognized with Travel Buzz News’ (TBN) coveted Gold Trade Fair Tour Operator Award. This honor is given in recognition of the company’s steadfast dedication to provide excellent services. With this success, the entire team is ecstatic and is continuing the celebrations.
  • The highly anticipated 2023 global trip itinerary, which provides a broad variety of top-notch experiences across six continents, was launched in 2022 by TCS World trip, a leading luxury tour operator and private jet adventure provider. The company’s all-inclusive travel packages include its well-known Around the World private jet expedition in addition to a recently introduced trip to discover the undiscovered wonders of Asia and an extraordinary exploration of lesser-known World Heritage-listed sites in Africa, South America, and the Arabian Peninsula.

Key Segments Profiled in the Customised Holidays Market

By Age Group:

  • Children
  • Adult

By Traveler Type:

  • Solo
  • Individual

By Mode of Travel:

  • Roadways
  • Airways
  • Seaways

By Mode of Stay:

  • Hotels
  • Resorts

By Mode of Booking:

  • Individually Planned
  • Travel Agency

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Thailand Tourism Market Gears Up for a Staggering US$ 76.60 Billion Valuation, Riding the Wave of 3% Annual Growth by 2032 | FMI

Thailand Tourism Market
Thailand Tourism Market

The tourism market in Thailand is projected to increase at a compound annual growth rate (CAGR) of 3%, from its current valuation of US$ 57 billion in 2022 to US$ 76.60 billion in 2032.

The rich history, wildlife, food and many other factors are expected to increase the influx of tourists and drive the demand for Thailand tourism.

Thailand is located in South East Asia. In fact, Thailand remains to be the only South East Asian country which was never colonised by any European Nation. The name ‘Thailand’ itself means ‘land of the free’.

Thailand was once popularly known as ‘the Venice of East’. The reason being that the waterways were the mode of transportation. Although Thailand doesn’t have any official religion, more than 90% of Thais are Buddhist.

The Thai is the most widely spoken language in Thailand.

Apart from that, Thailand also has the reputation of being the largest exporter of Orchids in the world.

Moreover, the bumble bee bat, which is the smallest mammal in the world is found in Thailand.

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What are the Current Market Dynamics pertaining to Thailand Tourism Market?

Thailand is believed to be one of the most famous destinations for rock climbers. The tourists from across the world visit the Railay beach for rock climbing. This something which tourists look forward to while visiting Thailand.

Thailand is also the place for some of the most beautiful beaches. The beaches are or everybody, be it for spending time in solace, for partying, or for learning to dive.

Both Phuket and Krabi, which are located in Southern Thailand are thronged by tourists across the world. They are incredibly famous for their well-developed facilities and plentiful activities.

Likewise, on the East of Thailand, islands like Ko Pha-Ngan and Ko Samui are stunning beaches and is especially for those who want to stay away from the hustle of the cities, and need to spend some peaceful time.

Who are Some of the Key Players in the Thailand Tourism Market?

  • Bangkok Travel Agency Thailand
  • NS Travels & Tours
  • Elite Holiday & Agency
  • Sun Leisure World
  • Holiday Tours and Travel
  • Bike Tours Thailand
  • Thailand Holiday Group
  • Thai Travel Plus Co. Ltd.
  • TIC Holidays Company Limited
  • Thrilling Thai tours ltd.
  • Discover Thailand Co. Ltd.
  • Exodus Travels
  • Thailand Elite Travel Agency
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Thailand tourism market is expected to face a tough rebuild as all the covid travel curbs ends from July 2022. The rebuild is expected to be challenging following tough norms and lack of tourists visiting Thailand.

Thailand’s new tourism campaign, Amazing Thailand New Chapter, is an attempt to revive the country’s economy.

  • Thrilling Thai tours were the winners of the Get Your Guide Awards, 2018.
  • Exodus travels won the Wanderlust Awards Best Response to the Pandemic – Bronze.

Key Segments Profiled in the Thailand Tourism Market Survey

By Booking Channel:

  • Phone booking
  • Online booking
  • In person booking

By Consumer Orientation:

  • Men
  • Women
  • Children

By Age group:

  • 15-25 years
  • 26-35 years
  • 36-45 years
  • 46-55 years
  • 56-65 years
  • 66-75 years

By Tour type:

  • Independent traveller
  • Tour Group
  • Package Traveller

By Tourist Type:

  • Domestic
  • International

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
LinkedIn| Twitter| Blogs | YouTube