Market Research Blog – Page 3756 – New Product Development

The Nutritional Revolution: Shea Butter’s Soaring Popularity as a Healthy Substitute in Chocolates and Confections

The global shea butter market According The market is expected to grow rapidly, according to Future Market Insights (FMI), which projects that a 7% CAGR will increase its value to US$ 5.58 billion by 2033. Because consumers are consuming more chocolate and candies, manufacturers are investigating healthier substitutes like shea butter. Additionally, their awareness of the health dangers associated with trans fatty acids is growing. This adaptable material’s ability to improve human health and satisfy consumers’ discriminating preferences is contributing to its rising appeal. Particularly in the UK, governments and public campaigns are actively limiting the use of goods that contain trans fatty acids in an effort to enhance cardiovascular health.

The global shea butter market is expected to reach US$ 5.58 billion by 2033, growing at a compound annual growth rate (CAGR) of 7.%, according to Future Market Insights (FMI). Manufacturers of chocolate and confections are responding to the increasing consumption and binge eating of these items by developing alternatives. Shea butter is one such substitute that is beneficial to human health.

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Trans fatty acid consumption is now universally acknowledged to be detrimental to cardiovascular health. This has resulted in widespread public campaigns and official measures, particularly in the U.K., to limit the consumption of food products containing such compounds.

Butter Market Size Value in 2022	US$ 2.75 Billion
Shea Butter Market Forecast Value in 2032	US$ 5.58 Billion
Shea Butter Market Growth Rate (2022 to 2032)	~7.7% CAGR
Forecast Period	2022-2032
Collective Value Share: Top 3 Countries (2021A)	42.4	%

Major market players, most notably Cargill, are launching shea butter as a substitute for cocoa butter in the food business in an effort to profit from this trend. Shea butter demand has increased as a result of a number of factors associated to products made with cocoa butter, including supply volatility, high pricing, variable quality, and other variables.

Shea butter is becoming more and more popular as a result of its widespread use in a range of confectionary products, including nibbles, sweets and jelly, toffees, chocolate, and others.

The idea of premiumization, which includes a superior mouthfeel and an extraordinary quality of such final products, will cause the shea butter market to rise steadily over the course of the projected period.

Key Takeaways from Market Study

The shea butter market is expected to reach a valuation of US$ 2.6 Bn in 2022.
Sales of shea butter market is expected to increase at 7.7% CAGR between 2022 and 2032.
Global shea butter demand is projected to grow year-on-year (Y-o-Y) growth of 8.2% in 2022.
The shea butter market is growing with a notable boost towards the production to reach USD 5.5 Bn by 2032.
In terms of nature, the organic segment is anticipated to dominate the market over the forecast period
In terms of grade, the unrefined form of shea butter is expected to witness significant growth over the assessment period.

“Growing demand for shea butter as a healthy alternative ingredient to trans-fat products, is increasing with soaring market share. Due to higher availability of raw materials and reduced environment impact as a clean label product, key players are introducing raw shea butter form in cosmetic industry to gain revenue,” says a Future Market Insights analyst.

Competitive Landscape

Key manufacturers of shea butter are focusing on sustainable product developments and also looking for investing in state-of-the-art processing facilities to further help the industry growth.

On September 8, 2020, Bunge Loders Croklaan (BLC) made an official announcement on establishing a state-of-the-art processing facility of shea butter in Tema, Ghana along with the campaign ‘Where Life Grows’ to celebrate efforts of the company to build a sustainable and resilient supply chain of shea butter in Africa.
On March 11, 2021, Fuji Oil Holdings, Inc. had launched a shea sustainability program known as ‘Tebma-Kandu’ in north Ghana to facilitate women empowerment including continuous improvement activities about reforestation and local value creation.

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Shea Butter Market by Category

By Nature:

Organic
Conventional

By Grade:

Grade A (raw or unrefined)
Grade B (refined)
Grade C (highly refined)
Grade D (lowest uncontaminated grade)
Grade E (with contaminants)

By Application:

Food Processing
Cosmetics & Personal Care
Pharmaceuticals Industry
Others

By Region:

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

Frequently Asked Questions

How much worth is the shea butter industry?
At what CAGR is the market poised to expand through 2032?
How has the performance of shea butter been over the past half-decade?
What will be the market for shea butter worth in 2032?
Who are the key players operating in the market?
Which are the top countries driving the demand in shea butter market?

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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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Harvesting Health: The Blooming Global Trend of Functional Mushrooms and Their Impact on Well-being | FMI

The global functional mushroom market value in 2022 was calculated to be approximately US$ 9,324.7 million. According to FMI, it will expand at a 9% annual pace between 2023 and 2033. By the conclusion of the projected period, it further projects that the total valuation would have reached US$ 22,023.8 million.

The recent spike in the use of functional mushrooms as a healthy replacement in regular diets offers significant development potential for the industry. It is anticipated that the global market for functional mushrooms would grow as more younger generations switch to vegan diets. Increased consumer awareness of the products’ potential to sustain general health and well-being could potentially support market expansion.

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The Asia Pacific countries are anticipated to have higher growth during the forecast years since the majority of mushrooms are grown in tropical areas. It may be related to growing interest in edible mushrooms as superfoods that improve food security in impoverished nations. They are also growing in popularity in industrialised countries as a superior replacement for a variety of other nutrient-dense meals.

The expanding urban population and rising expenditures on meals with functional enhancements are two more crucial factors. Due to its substantial food and beverage sectors, Germany has a stronger need for functional mushrooms than other European nations.

Key Takeaways from this Report:

Based on geographic regions, the sales of functional mushrooms in the United States constituted 16.4% of the global revenue in 2022.
The overall demand for functional mushrooms in Germany generated a global revenue share of around 6.6% as per the 2022 records. Meanwhile, the United Kingdom is anticipated to increase at a higher rate of nearly 5.9% through 2033.
Japan is the leading country in the Asia Pacific region and it held a global market share of around 7.3% in the year 2022. On the other hand, China is expected to overtake it soon by capturing a 4.5% CAGR between the years 2023 and 2033.
The production of functional mushrooms in India is anticipated to increase at the quickest rate of nearly 8.9% during the anticipated period.
Back in the year 2022, the organic segment led the global market in terms of nature and was responsible for a revenue share of more than 21.3%.
The powdered product segment led the market and was responsible for a revenue share of nearly 23.7% in the year 2022. This was brought on by the product’s increased popularity due to its higher storage and transport feasibility.

Competitive Landscape:

Hokkaido Reishi Co., Ltd.
Om Mushrooms
Rainbo
Nammex
Half Hill Farm Inc.
Marley One
Optimi Health Corp.
Wuling (Fuzhou) Biotechnology Co., Ltd.
Landish Foods
Functional Mushrooms
Hekate
Others

The Marley Company introduced the Marley One psychedelic and functional mushroom consumer brand in June 2021 in collaboration with Silo Wellness Incorporation. Silo Wellness is a significant Toronto-based psychedelic business working on enhancing immunity and supporting gastrointestinal health and cognitive function. The first product line contains a range of tinctures made from functional mushrooms, such as lion’s mane, cordyceps, reishi, turkey tail, and Chaga.

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Key Segmentation:

By Nature:

Organic
Conventional

By Product Species:

Reishi
Shiitake
Lion’s Mane
Chaga
Maitake
Cordyceps
Tremella
Turkey Tail
Enokitake
Oyster Mushrooms
Others

By Form:

Liquid Sprays and Drinks
Powders
Capsules or Supplements
Others

By Application:

Food & Beverages
Nutraceuticals & Dietary Supplements
Pharmaceutical
Sports Nutrition and Functional Items
Cosmetics & Personal Care
Pet Care Industry
Other Applications

By Region:

North America Market
Latin America Market
Europe Market
East Asia Market
South Asia Market
Oceania Market
The Middle East & Africa (ME&A) Market

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

Contact Us:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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For Sales Enquiries: sales@futuremarketinsights.com

Riding the Vegan Wave: Exploring the Global Growth of Plant-Based Seafood with the Booming Vegan Fish Sauce Market

In the present year 2023, the global vegan fish sauce market size is valued at US$ 68.7 Million as per the survey conducted
through the FMI. According to specialists’ market estimate, the market is anticipated to grow at a compound annual growth rate (CAGR) of 8.9% from 2023 to 2033. It is anticipated that by 2033, the global market for vegan fish sauce will have generated sales of US$ 146.5 million.

In all major economies, people are becoming more aware of the damage that animal slaughter causes to the environment. when a result, it is anticipated that when more and more condiments and animal substitutes are accepted, the market’s existing sales of vegan fish sauce will increase.

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The growing popularity of vegan products among millennials has also increased the market. In an effort to draw in new customers and give them unique experiences, industry rivals have recently released a number of vegan fish sauce varieties.

Key Takeaways from the Vegan Fish Sauce Industry Study

Through the sales of vegan fish sauce throughout the preceding year 2022, the United States market generated revenue to be worth roughly US$ 17.8 Mn. According to the market study report, the US market accounts for about 28.5% of total vegan fish sauce sales worldwide.
Germany is the next most important market for vegan fish sauce, accounting for almost 16.5% of total sales. It is also the main market inside the European Union for vegan fish sauce substitutes, with an annual revenue of 10.3 Mn in 2022.
In contrast, the Uk is the fastest developing nation when it comes to embracing the vegan version of fish sauce, with a 9.9% annual growth rate through 2033. This remarkable growth rate is expected to increase the UK’s vegan fish sauce industry share from US$ 5.7 Mn in 2023 to US$ 16 Mn by 2033.
Japan seems to be the primary marketplace in the Asia Pacific region for the cultivation and distribution of a variety of plant-based protein food items. According to the market survey data for 2022, the overall sales of vegan fish sauce in Japan reached a staggering 3.2 Mn.
Surprisingly, India is the better-performing country in terms of the increasing popularity of all forms of plant-based protein alternatives. According to the market analysis, the Indian market for fish sauce vegan alternatives is expected to develop at a CAGR of 8.9% through 2033.
Lately, Australia has become well-known among international market participants for incorporating a variety of plant-based protein alternatives into their daily diets. It earned total earnings of US$ 1.7 Mn in 2022, accounting for around 2.8% of the said global market.
Depending on the many technologies for the production of vegan fish sauce utilized by suppliers today, the traditional method is the dominant sector, accounting for over 45.6% of the total production.

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Competitive Landscape for the Vegan Fish Sauce Industry Players

Follow Your Heart, Primal Kitchens, Sir Kingstons, The Vegan Mayo Co., Danone S.A, The Archer Daniels Midland Company, Daiya Foods Inc., Ripple Foods Inc, Vegenaise., Impossible Foods Inc., Eat Just, Inc., Beyond Meat, Inc., Amy’s Kitchen, Tofutti Brands Inc., and Earth’s Own Food Company Inc. are some of the major players in the global vegan fish sauce Industry

Although there is a huge amount of room in the vegan fish sauce industry for manufacturers of plant-based proteins and condiments, many don’t have the necessary manufacturing capabilities to take advantage of this market opportunity. For instance, the US retail behemoth Target announced the launch of its new subsidiary, Good & Gather Plant-Based, in May 2021. The company plans to launch 30 new plant-based protein snack items and condiments under this brand.

Key Segments

By Source:

Soy
Almond
Wheat
Others

By Distribution Channel:

Supermarkets/Hypermarkets
Convenience Stores
Specialty Stores
Online Platforms
Others

By End User:

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

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Vegan Butter Revolution: Riding the Wave of Oat Milk Popularity in a Growing $4.8 Billion Market by 2033 | FMI

The global vegan butter market is forecasted to expand at 5% CAGR over the estimated period as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 4,784.7 million in 2033

The market is expanding due to an increasing demand for vegan butter derived from oats, as indicated by the B2C sales channel. The growing popularity of oat milk and related products is driving up demand for vegan butter made from oats.

Sales of vegan butter are increasing as demand for clean-label and vegan products rises. Businesses like Miyoko’s Creamery are attempting to obtain certification for their vegan butter products in order to label them as “gluten-free,” “soy-free,” and “non-GMO.” The objectives of labelling are to increase plant-based butter’s overall sales and gain public acceptability.

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Within the bakery industry, vegan butter is being perceptibly used at a large scale now. This evolution in the ingredient choice has been dictated by the surging health-wary consumers, who are seeking bakery items made of vegan butter.

Flavored vegan butter has also been gaining widespread traction, as evident with the increasing number of merchants introducing their line of flavored plant-based butter. Manufacturers require to focus on technological upgrades over the forecast period to:

Enhance manufacturing processes
Sales monitoring
Packaging and design
Product variety for business expansion

Geographically, North America is a large market for vegan butter, representing a significant proportion of global consumption. The United States leads the regional market and the global market.

Growth in Asia Pacific region can be accorded to consumer discernment regarding the health and wellness benefits of vegan goods and heightened demand for a vegan diet among the young generation. India, as per FMI’s latest statistics, is projected to expand at 6.5% from 2023 to 2033.

Top Highlights from the FMI’s Analysis of the Vegan Butter Industry:

The United States vegan butter industry garnered a 22.4% market share in 2022.
Germany’s share in the global vegan butter industry was 6% in 2022.
The United Kingdom is anticipated to expand from 2023 to 2033 with a CAGR of 5.5%.
Japan’s market contributed a value share of 2.9% in 2022.
India’s vegan butter industry is projected to register a prominent CAGR of 6.5% over the forecast period.
China’s vegan butter industry is forecasted to expand at 3.8% CAGR over the estimated period.
Based on source, the oat milk segment acquired a 26.9% market share in 2022.
Based on flavor, the unflavored segment represented 63.5% of the global market in 2022.
Under the category of sales channel, the B2C segment garnered 78.4% of the overall market in 2022.

Innovation Watch: New Developments in the Market

In September 2019, Country Crock® made moves along with the plant-based food movement by introducing Country Crock® Plant Butter, a new dairy-free plant butter, that is similar in taste to dairy butter. The product is made of plant-based oils and enriched with oils like almonds, avocados, and olives. The product is certified by Plant Based Foods Association (PBFA) as kosher, gluten-free, and plant-based, making it appropriate for vegan diets.
In July 2020, Flora, a margarine brand, announced that it is going 100% vegan. Following this announcement, the company introduced the Flora Plant range of 100% vegan butter. The block butter consists of palm, rapeseed, and sunflower oil. The wrapping material of this butter block is 100% biodegradable.

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Key Players Operating in the Market

Wayfare Food
Chobani LLC
Miyoko’s Creamery
Milkadamia
Prosperity Organic Foods, Inc
Conagra Brands Inc.
Upfield Foods
Premier Organics
Forager Project
wildCREAMERY (Wildbrine®)
Others

Vegan Butter Industry by Category

By Source:

Rice Milk
Oat Milk
Soy Milk
Corn Milk
Almond Milk
Pea Milk
Cashew Milk
Coconut Milk
Hemp Milk
Flax Milk
Others

By Flavor:

Unflavored
Flavored
- Cocoa/ Chocolate
- Cinnamon
- Banana
- Coconut
- Grape
- Hazelnut
- Lemon
- Peanut Butter
- Raspberry
- Strawberry
- Vanilla
- Other Flavors

By Sales Channel:

B2B
- Hotels
- Restaurants
- Cafes
B2C
- Hypermarkets /Supermarkets
- Convenience Stores
- Mom and Pop Stores
- Discount Stores
- Food & Drink Specialty Stores
- Independent Small Groceries
- Online Retail
- Others Retail Formats

By Application:

Bakery Industry
Confectionery Items
Dairy Industry
Dietary Supplements
Household Pantry
Hotel, Restaurant, and Retail Chains
Others

By Region:

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

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Retro-Reflective Labels Market: Projected to Register a 12% CAGR by 2032 – Exploring Growth Trends, Applications, and Innovations in Reflective Labeling Solutions

During the forecast period, the retro-reflective labels market is anticipated to witness robust growth, with a projected Compound Annual Growth Rate (CAGR) of 12%, escalating from US$ 4.87 billion in 2021 to a valuation of US$ 17 billion by 2032. This surge in market value can be attributed to the increasing demand for retro-reflective labels in various industries, including transportation, construction, and automotive, driven by the need for enhanced visibility and safety measures. Furthermore, advancements in reflective technology and regulations mandating the use of reflective labeling are further propelling market growth globally.

The Asia-Pacific (APAC) region stands as the preeminent market for the sales of retro-reflective labels, boasting a prominent leadership position in the global market. This regional dominance can be attributed to the remarkable expansion of various industries, particularly in automotive and transportation, as well as building and infrastructure. As APAC experiences rapid economic growth and urbanization, the demand for retro-reflective labels has surged.

In the automotive sector, these labels are pivotal for enhancing road safety, ensuring visibility, and adhering to regulatory standards, which are of paramount importance in densely populated urban areas. Moreover, the burgeoning infrastructure development in APAC necessitates retro-reflective labels for applications such as road signs and construction equipment, further propelling their demand.

The region’s dynamic industrial landscape and infrastructure projects have made APAC a major contributor to the global retro-reflective label market, with no signs of slowing down, ensuring its continued dominance in the foreseeable future.

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Market Drivers:

Safety Regulations and Standards: Increasingly stringent safety regulations across various industries, such as automotive, construction, and transportation, drive the demand for retro-reflective labels. These labels enhance visibility in low-light conditions, improving safety for workers and motorists.
Growing Road Infrastructure: With the expansion of road networks globally, the demand for traffic signage and markings has surged. Retro-reflective labels play a vital role in ensuring these markings remain visible, thereby reducing accidents and enhancing road safety.
Urbanization and Infrastructure Development: Rapid urbanization and infrastructure development projects, particularly in emerging economies, boost the demand for retro-reflective labels for road signs, barricades, and other safety equipment.
Advancements in Material and Printing Technologies: Innovations in materials and printing technologies have led to the development of more durable and cost-effective retro-reflective labels. Manufacturers are leveraging these advancements to offer products with superior performance and longer lifespan, driving market growth.
Increasing Awareness about Workplace Safety: Heightened awareness about workplace safety standards and the importance of visibility in hazardous environments propel the adoption of retro-reflective labels across industries such as construction, mining, and manufacturing.
Demand from Recreational Activities: The popularity of recreational activities like biking, hiking, and camping has increased the demand for retro-reflective labels on outdoor gear and apparel, enhancing visibility and safety for enthusiasts.

Market Restraints:

Cost Constraints: The initial cost of retro-reflective labels may be higher compared to conventional labels, which can deter price-sensitive consumers and businesses, especially in cost-conscious markets.
Limited Durability: While advancements have been made in improving the durability of retro-reflective labels, certain environmental factors such as exposure to extreme weather conditions or chemicals can degrade their performance over time, limiting their lifespan.
Substitute Technologies: Alternative technologies such as LED-based lighting solutions or digital displays may offer competition to retro-reflective labels in certain applications, posing a challenge to market growth.
Regulatory Compliance Challenges: Meeting diverse regulatory requirements across different regions and industries can pose challenges for manufacturers and suppliers of retro-reflective labels, hindering market expansion, especially in highly regulated sectors.
Supply Chain Disruptions: Disruptions in the supply chain, whether due to raw material shortages, transportation issues, or geopolitical factors, can impact the availability of retro-reflective materials and components, affecting market dynamics and pricing.
Market Saturation in Mature Economies: In mature economies where retro-reflective labels are extensively deployed, the market may reach saturation levels, leading to slower growth rates unless driven by technological innovations or replacement demand.

Major Players in the Retro-Reflective Labels Market?

Avery Dennison Corporation,
UPM Raflatac,
PPG Industries, Inc.,
Brady Worldwide, Inc.,
3M Company,
Lintec Corporation,

etc. are some of the leading participants in the retro-reflective labels market.

Recent Developments of the Retro-Reflective Labels Market:

Scott Safety (US), a leading maker of innovative products such as self-contained breathing apparatus (SCBA) systems, gas and flame detection equipment, and other safety gear, was bought by 3M in October 2017. Through this purchase, 3M expanded the product portfolio of its personal safety business segment. Along with reflective materials, 3M’s personal safety division offers products and solutions such as head, eye, and facial protection.

ORAFOL purchased a graphic distributor with a substantial presence in Melbourne, Perth, and Adelaide in August 2017. (Australia). With such a broad presence, the acquired graphic distributor became the only provider of ORAFOL goods in Australia’s retro-reflective and

What are the Key Contributors to the Retro-Reflective Labels Market Share?

The worldwide retroreflective labels market is segmented by producers that specialize in retail and industrial applications. Sales of retroreflective labels are subject to improvement due to technological compositions and sophisticated design principles that are included in the material selection and production process.

Retroreflective labels simplify identification, and reflective barcodes, with their long-range legibility, are ideal for expediting identification in industrial applications. For example, warehouses can utilize long-range labels to identify fourth-tier bins. By reading a retroreflective label on a bin from a distance of more than 30 feet, a forklift operator may instantly retrieve critical information about that bin — what it contains, where it has to be transported, and where it originated from.

Sales of retroreflective labels are also blooming as they provide several advantages, including economic effectiveness, reduced labour needs, and simplicity of inventory management. The worldwide sales of retroreflective labels rapid expansion are projected to fuel demand for retroreflective labels.

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Key Segments For Retro-Reflective Labels Market

By Product Type:

Pre-printed
Personalized (On-demand)

By Material Type:

Plastic
Paper
Glass Beads

By Application:

Manufacturers
Shipping & logistics

By End User:

Food & Beverages
Healthcare & Pharmaceuticals
Electrical & Electronics
Cosmetics & Personal Care
Chemicals & Fertilizers
Other Industries

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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Europe Winter Tourism Market on Track for a 6% CAGR, Envisioning US$ 322.35 Billion in 2032 | FMI

The Europe winter tourism market is estimated to reach US$ 180 Billion in 2022. As per the report, sales are forecast to increase at a robust 6% CAGR, with the market valuation reaching US$ 322.35 Billion by 2032. The contribution of European winter tourism is 1 to 2% to GDP of European Countries.

The world’s markets are flourishing thanks to street vendors. While the vast shopping centres are stocked with pricey goods, these street vendors frequently supply the market with inexpensive goods, helping many people to live.

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The creation of self-help organisations that give these street vendors financial support is building a foundation for the expansion of the street vendor ecosystem. Since they contribute to the economy by spreading out the burden and creating jobs for the migrant population, many governments around the world have come to embrace their presence in the market. The expansion of street sellers is being aided by this emerging trend.

Key Takeaways:

In terms of area, rural areas segment are predicted to account for a dominant share of Travelers in the market through 2032.
On the basis of commodities, food products is anticipated to hold a major share in the market.

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Key Players

Topdeck
The Natural Adventure Company
G Adventures
Intrepid
GJ Travel
Shamrocker Adventures
Exodus Travel
On Go tours
Tauck
Expat Explore Travel
Thomas Cook Travels
Trafalgar
Wingbuddy
Euroventures

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of Street Vendors Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on Street Vendors Market by Vendor type (Stationary, Peripatetic, Mobile) Area (Urban, Suburban, Rural) Commodity (Food products, Cosmetics, Clothing, Daily Necessities, Others) & Region – Forecast to 2017 – 2032.

European Winter Tourism Market By Category

By Tourism Type:

Skiing
Hiking
Mountain Climbing
Trails Travel
Religious Travel
Christmas Travel

By Country:

United Kingdom
Switzerland
Austria
Norway
Spain
Netherlands
Sweden
Greece
Others

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Age Group:

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

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
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Spirits Market Soars: A Comprehensive Analysis of the Global Spirits Industry Set to Reach US$ 90.3 Billion by 2033 | FMI

The number of spirits market is anticipated to increase globally from around US$ 59.4 billion in 2023 to approximately US$ 90.3 billion by 2033, mostly as a result of the expanding market potential and the influence of Western culture.

The value of the worldwide spirits market is expected to reach US$ 90,288.9 million by 2033 at a compound annual growth rate (CAGR) of 4%, from an estimated value of US$ 59,408 million in 2023. The main factor fueling this surge is the rise in alcohol consumption, especially among young people who are influenced by Western culture. Spirit sales reached a global total of US$ 57,123 million in 2022, demonstrating the market’s strength and room for growth.

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As per various earlier market survey reports, the net worth of total spirits sold globally in the year 2022 stood at US$ 57,123 Million. In accordance with data from Future Market Insights (FMI), the global spirits market value is estimated to be around US$ 59,408 Million in 2023. Further, as per this market report, the market is projected to progress at a CAGR of 4% from 2023 to 2033. By following this moderate CAGR, the overall market value is projected to reach US$ 90,288.9 Million by 2033.

One of the main causes fueling the expansion of distilleries or the spirit industry is the rise in the number of alcohol consumers. The overall use of various types of spirits has increased, especially among young people, as a result of Western culture’s influence on developing countries.

Spirits sales have increased significantly in recent years thanks to a more sophisticated distribution system utilised by alcohol producers, such as internet merchants. In addition, the growth and introduction of new alcoholic beverage-serving pubs, restaurants, and hotels have enhanced their market trend.

The use of craft spirits has increased over the past several years for a variety of reasons, including the younger generation’s growing preference for premium alcoholic beverages. In order to broaden their product lines, craft spirit distillers are also focusing on developing new beverages using a variety of herbs, spices, botanicals, and fruits.

Key Takeaways:

The absolute increment of the overall market over the next ten years is anticipated to be US$ 30,881 Million.
The United States alone accounted for almost 32% of the total spirits consumed in the year 2022.
Germany follows the United States in sales and consumption of spirits and contributed to nearly 15% of the market revenue share in 2022.
The demand for spirits in the United Kingdom is higher than in any other country in Europe and could progress at a 6% CAGR through 2033.
The capacity for the production of spirits in China is higher than in other Asia Pacific countries and during the projected period it could register a CAGR of 6.5%.
India is another emerging country for both consumption and supply of spirits which is poised to progress at 4.6% CAR through 2033.
Japan was figured out to have contributed 1.2% in global sales of spirits in 2022 while the contribution of Australia was only 0.9%.
Among the different types of spirits, the whiskey segment dominates the overall market having a 28% revenue share in the year 2022.
Based on distribution channels, the indirect sales of spirit accrued revenue of 71% in 2022.

Competitive Landscape:

Diageo plc.
Pernod-Ricard SA
LVMH
Jose Cuervo
Patrón
Beam Suntory
Brown-Forman Corp.
Constellation Brands, Inc.
Remy Cointreau SA
Marnier Lapostolle SA
Belvedere SA
Berentzen-Gruppe AG.
William Grant & Sons
The Edrington Group
Kweichow Moutai Group
Wuliangye
Yanghe Brewery
Daohuaxiang
Luzhou Laojiao
Others

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A few of the top producers of spirits are concentrating on taking advantage of the potential presented by the quickly expanding market sectors.

Future business of the spirits industry could shift in favor of the suppliers due to the ongoing introduction of product lines according to local preferences. As bigger spirit producers like Suntory Holding and Pernod Ricard are attempting to capitalize on this, new partnerships are taking place in the market. Acquired regional partners get access to a wider consumer base, and are also permitted to continue operations entirely independently of the new parent company.

Key Segmentation:

By Product Type:

Vodka
Rum
Whiskey
Gin
Tequila
Other Spirits

By Category:

Mass
Premium

By Application:

Household
Commercial

By Distribution Channel:

Direct Sales Channels
Indirect Sales Channels
- Hypermarkets or Supermarkets
- Specialty Stores
- Independent Retailers
- Online Retailers

By Region:

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

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Stainless Steel Valve Tag Market: Recording an Average CAGR of 4.3% by 2032 – Exploring Growth Drivers, Applications, and Industry Trends in Asset Identification Solutions

The Stainless Steel Valve Tags Market is expected to reach US$ 8.27 Billion in 2032 and is likely to surge at a CAGR of 4.3% during the forecast period. Companies are creating new valve tags that are extremely configurable and come in a variety of shapes and sizes in response to the increased demand for them in the food processing, medicinal, chemical, and other industries. The fact that Stainless Steel Identification Tags can be stamped, etched, and embossed is another factor in their increased sales.

The Asia Pacific, excluding Japan (APEJ) region, is poised to take the lead in terms of market share within the global stainless steel valve tag market throughout the forecast period. This dominance is attributed to the presence of high-growth economies and the rapid expansion of end-use industries, which are expected to drive substantial growth in the APEJ stainless steel valve tag market. Notably, India and ASEAN countries are anticipated to exhibit the highest growth rates in the stainless steel valve tag market during the forecast period.

In Latin America and the Middle East and Africa, significant demand for stainless steel valve tags is projected during this period. The expansion of various end-user industries and the presence of emerging economies in these regions are key factors fueling the demand for stainless steel valve tags.

Western Europe and North America also maintain a considerable share in the global stainless steel valve tag market, with notable expected CAGR figures during the forecast period. Germany in Western Europe and the United States in North America are poised to be highly attractive markets for stainless steel valve tags. Meanwhile, Japan’s stainless steel valve tag market is forecasted to experience moderate expansion over the same period.

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Competitive Landscape Analysis

The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of stainless steel valve tag market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.

It also provides a list of leading players and recent development in the global stainless steel valve tag market. Some of the prominent market players are Seton –

A Brandy Corporation Company,
Metal Marker Manufacturing,
Inland Products,
Big City Manufacturing,
Tag-It Industries,
Ketchum Manufacturing Inc and
National Band & Tag company

Key Stainless Steel Valve Tag Market Takeaways and Projections

The U.S. is expected to lead the North America stainless steel valve tag market, projecting the fastest growth in the region between 2022 and 2032
Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.

Key Drivers and Restraints to the Stainless Steel Valve Tag Market

Key Drivers to the Stainless Steel Valve Tag Market:

Industrial Expansion : The growth of various end-use industries, including manufacturing, petrochemical, and utilities, drives the demand for stainless steel valve tags as they play a crucial role in asset management and safety.
Economic Development in APEJ : The rapid industrialization and urbanization in the Asia Pacific, excluding Japan (APEJ) region, boost the stainless steel valve tag market as it caters to the needs of expanding industries and infrastructure.
Emerging Economies : The presence of emerging economies in Latin America and the Middle East & Africa contributes to the demand for stainless steel valve tags as these regions witness increased industrial and construction activities.

Key Restraints to the Stainless Steel Valve Tag Market:

Environmental Concerns : The environmental impact of stainless steel production and disposal, along with the sustainability trend, can pose challenges for the market, as eco-friendly alternatives may be sought.
Cost Constraints : The initial and maintenance costs associated with stainless steel valve tags can limit their adoption, particularly in cost-sensitive industries.
Technological Alternatives : Advancements in digital and RFID tagging technologies can provide alternatives to traditional valve tags, potentially affecting market demand.
Economic Uncertainty : Economic downturns and uncertainties can lead to reduced investments in industrial equipment and, consequently, in stainless steel valve tags.

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Latest Trends in the Stainless Steel Valve Tag Market

The stainless steel valve tag market is constantly evolving, driven by advancements in technology and changing industry requirements. Some of the latest trends include:

Integration with Asset Management Systems : Stainless steel valve tags are being integrated with digital asset management systems, enabling real-time monitoring, data collection, and predictive maintenance.
Customization and Branding : Manufacturers now offer customized stainless steel valve tags with company logos, colors, and specific information, enhancing branding opportunities for businesses.
QR Code Integration : QR codes are being incorporated into stainless steel valve tags, allowing easy access to detailed valve information and maintenance records through smartphone scanning.
Tamper-Proof Features : To ensure security and prevent unauthorized access, stainless steel valve tags now come with tamper-proof features like seals and unique identification codes.
Environmental Sustainability : The market is witnessing an increased demand for eco-friendly stainless steel valve tags that are manufactured using sustainable practices and materials.

Demand for stainless steel valve tags increases with the rising demand for them in the food processing, medical, chemical, and other industries, companies are introducing new valve tags that are highly customizable and come in various shapes and sizes. Other reasons for the sales of stainless steel valve tags are that these tags can be stamped, engraved, and embossed to provide unique information.

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

Sorter Machines Market: Likely to Register a 5.9% CAGR by 2032 – Exploring Trends, Innovations, and Applications in Automated Sorting Solutions

With its ability to enhance productivity through high-capacity sorting, the sorter machines market is poised to achieve a robust Compound Annual Growth Rate (CAGR) of 5.9% throughout the forecast period. This growth trajectory is expected to elevate the market share to US$ 7.58 billion by 2032, a significant increase from US$ 3.81 billion recorded in 2020. The demand for sorter machines is driven by their efficiency in streamlining operations across various industries, including logistics, manufacturing, and e-commerce, thereby optimizing processes and contributing to overall operational efficiency and cost-effectiveness.

Europe is poised to lead the sorter machine market during the projected period, driven by end-use industries experiencing rapid development and a growing demand for automated sorting systems. This region is expected to witness substantial growth in the use of sorter machines, reflecting the increasing automation trend.

Within Europe, Germany is anticipated to be a highly attractive market for sorter machines, with strong sales expected during the projection period. The continuous expansion of end-user industries in East Asia and South Asia will also contribute to the rising demand for sorter machines.

China in East Asia and India in South Asia are expected to maintain their leading positions in terms of market share and growth rate for sorter machines during the projection period. In North America, the market for sorter machines is significant and is likely to continue experiencing substantial sales over the forecast period. These regions collectively reflect the global expansion and adoption of sorter machines, driven by the need for efficient sorting and automation in various industries.

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Market Drivers:

E-commerce Growth: The exponential rise of e-commerce necessitates efficient sorting solutions to handle the increasing volume of packages and parcels. Sorter machines streamline sorting processes, enhancing order fulfillment and delivery efficiency.
Automation Demand: Industries across sectors seek automation solutions to optimize operations, reduce labor costs, and improve accuracy. Sorter machines offer automated sorting capabilities, which align with the broader trend of automation adoption.
Focus on Logistics Optimization: Companies aim to optimize logistics networks to enhance supply chain efficiency and reduce delivery times. Sorter machines enable faster and more accurate sorting, facilitating streamlined logistics operations.
Enhanced Sorting Accuracy: Advancements in sensor technologies, machine learning, and artificial intelligence improve sorting accuracy, reducing errors and minimizing product damage during handling and transportation.
Environmental Concerns: Eco-friendly sorter machines with energy-efficient features are gaining traction due to growing environmental awareness and regulatory pressures to reduce carbon footprints.
Market Expansion: Increasing globalization and cross-border trade drive demand for sorter machines in emerging markets. Companies expanding their operations seek advanced sorting solutions to meet evolving market demands.
Customization and Flexibility: Sorter machines offering customization options and flexibility to adapt to diverse product types and sizes are in demand. Modular sorter systems allow businesses to scale operations and accommodate changing requirements.

Market Restraints:

High Initial Investment: Sorter machines entail significant upfront costs for procurement, installation, and integration with existing infrastructure. The initial investment can deter small and medium-sized enterprises (SMEs) from adopting sorter solutions.
Complex Integration Process: Integrating sorter machines into existing warehouse or distribution center operations can be complex and time-consuming. Compatibility issues, downtime during installation, and training requirements pose challenges for seamless integration.
Maintenance and Operational Costs: Ongoing maintenance, repair, and operational costs associated with sorter machines add to the total cost of ownership. Companies must allocate resources for regular maintenance and upgrades to ensure optimal performance and longevity.
Market Consolidation: The sorter machines market is witnessing consolidation, with major players acquiring smaller competitors. This consolidation may limit market competition and innovation, potentially leading to higher prices and fewer options for buyers.
Regulatory Compliance: Compliance with industry standards and regulations, such as safety guidelines and data protection laws, adds complexity to sorter machine deployment. Ensuring compliance entails additional costs and administrative efforts for businesses.
Limited Scalability: Some sorter systems may lack scalability to accommodate future growth or changes in operational requirements. Businesses must assess scalability features before investing in sorter solutions to avoid potential limitations.
Technological Obsolescence: Rapid advancements in sorting technology may lead to the obsolescence of older sorter systems, requiring companies to continuously invest in upgrades or replacements to stay competitive.

Sorter Machines Market: Competition Analysis

The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Sorter Machines market. Competitive information detailed in the Sorter Machines market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Sorter Machines market report.

Key players covered in the report include:

Satake USA,
Buhler AG,
Barco NV,
TOMRA Sorting NV,
ASM (Advanced Sorting Machines) S.r.l.,
Shanghai MST Optoelectronic Technology Co., Ltd,
Visys NV,
Machinex Industries Inc,
Sunshine Agri Projects LLP

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Key Offerings of the Report

Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Sorter Machines market

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

Europe Rail Tourism Market Anticipates 5.06% CAGR Flourish by 2032 | FMI

According to estimates, the European rail tourism sector would grow to US$ 290.50 billion by 2022. Sales are expected to grow at a strong 5.06% CAGR, according to the analysis, and the market worth will reach US$ 475.5 billion by 2032.

European rail tourism is not doing well because of many factors. Main factors effecting the tourism sector are the post-Covid regulations around the world and fallen economy of most of the countries, from where tourists visit to European countries. The other being conflicts between Russia and Ukraine, indirectly affecting the tourism sector.

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Even in this scenario, European rail Travel Commission is trying to get the tourism sector going as it was before Covid. To promote and encouraging rail tourism in European countries, ETC and Eurail have launched a campaign, called Best European Rail Tourism Campaign.

These united efforts are aiming toward increase in number of travelers by railroads, ultimately reducing the carbon emission, also giving attention to the sustainable travelling and increasing awareness of lesser-known destinations around Europe.

“European committees are working together to promote rail travel among nations.” Says an FMI analyst.

Key Takeaways:

Based on train tour type, Scenic Train Tours are popular among international as well as domestic travellers visiting European countries.
By booking channel, the online booking is preferred by most travellers.
In terms of age group, individuals from age group of 26-35 are most common travellers to go for train tours around Europe.

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Even though all these drawbacks, rail transport have higher advantage to start working efficiently, as there are different compartments and separated seats in train wagons, making it easier for keeping distance in between passengers in train. Numerous tourism businesses are establishing train trips in European nations while adhering to safety regulations, giving visitors a one-of-a-kind and never-before experience.

Major players present in the European rail tourism market

Trafalgar
G Adventures
Globus
Cosmos
Wings Tour
Explore!
Great Rail Journeys
Eurailing Packages
Bamba
Intro Travel
Wanderlands Travel
Georgian Holidays
Kiwi Vibes

Get More Valuable Insights

Future Market Insights, In Its New Offering, provides an Unbiased Analysis of the Europe Rail Tourism Market, Presenting Historical Demand Data (2017-2021) And Forecast Statistics for The Period from 2022-2032.

The Study Divulges Compelling Insights On the Europe Rail Tourism Market Based On the Tourism Type (High-Speed Train, Long-Distance Train, Night Train, Local/Regional Train, Scenic Train, International Train), By Country (United Kingdom, Scotland, Switzerland, Austria, Russia, Spain, Venice, Sweden, others), Booking Channel (Phone Booking, Online Booking & In Person Booking) Tourist Type (Domestic & International), Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, 66-75 Years) Across Europe.

Europe Rail Tourism Market By Category

By Train Tour Type:

High-Speed Train
Long-Distance Train
Night Train
Local/Regional Train
Scenic Train
International Train

By Country:

United Kingdom
Scotland
Switzerland
Austria
Russia
Spain
Venice
Sweden
others

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Age Group:

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

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