Market Research Blog – Page 3847 – New Product Development

Global Nugget Ice Machines Market Envisions Strong Growth with a 5.16% CAGR, Eyeing a Valuation of US$ 133.9 Million by 2033

Future Market Insights anticipates a prosperous future for the global nugget ice machines market, currently valued at US$ 80.9 million in 2023. With a forecasted Compound Annual Growth Rate (CAGR) of 5.16% spanning from 2023 to 2033, the market is positioned to achieve a substantial valuation of US$ 133.9 million by the conclusion of the next decade.

The driving force propelling this anticipated growth stems from the increasing demand for ice in developing nations, where it plays a pivotal role in culinary traditions and daily dietary practices. The distinctive texture and versatile nature of nugget ice position it as a highly sought-after choice for a diverse array of culinary applications. Consequently, the market is undergoing robust expansion as it caters to the evolving preferences of consumers in these regions.

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Crucial Insights from the Nugget Ice Machines Market:

Steady Growth Trajectory: Between 2018 and 2022, the global nugget ice machines market exhibited a consistent compound annual growth rate (CAGR) of 3.5%, showcasing its resilience and enduring relevance within the industry landscape.
North American Preference: The North American region takes center stage, with an impressive 85% of individuals demonstrating a preference for alcoholic beverages. This inclination has emerged as a pivotal driving force propelling the upward trajectory of the nugget ice machine market.
Dominance in 2023: The year 2023 witnesses the nugget ice machine market command a substantial market share, estimated to range between 60% to 65%, reaffirming its prominent position within the industry landscape.
Material Dynamics: Within the realm of material-wise segmentation, stainless steel emerges as the dominant choice, poised to seize a significant market share, underscoring its appeal and practicality within the nugget ice machine market.
Sales Channel Catalyst: The online website segment takes the lead as a potent driver within the nugget ice machine market’s sales channel segmentation. This online avenue emerges as a pivotal conduit, channeling market growth and expanding the product’s reach.

Competitive Landscape:

Some of the prominent players in the global market are-

Frigidaire
NewAir
hOmeLabs
MC Appliances (Magic Chef)
Whynter
EdgeStar
Scotsman Ice Systems
Maxx Ice
Summit Appliances
GE Appliances
Crownful

Some of the important developments of the key players in the market are:

In April 2023, HiCOZY dual-mode countertop nugget ice maker is said to have a water line hookup available that includes both eco and cycle modes and it has a plastic hoop that is likely to be sturdy.

More Valuable Insights Available:

Future Market Insights offers an unbiased analysis of the global Nephroblastoma Therapeutics Market providing historical data for 2018-2022 and forecast statistics from 2023-2033.

To understand opportunities in Nerve Entrapment Syndrome treatment, the market is segmented based on major Installation type (Countertop, freestanding, under counter, wall mounted) Material Type (metal, plastic, stainless steel), Production Capacity (up to 700pounds, 700 pounds to 1400 pounds, above 1400 pounds), Sales channel (Online websites, offline stores, hypermarket, specialty store), Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Key Segments Profiled in the Nuggets Ice Machine Market Report:

By Installation Type:

Counter Top
Free Standing
Under counter
Wall Mounted

By Production Capacity (Per 24 hrs):

Up to 700 Pounds
700 to 1400 Pounds
Above 1400 Pounds

By Material:

Metal
Plastic
Stainless Steel

By Sales Channel:

Online Website
Offline Stores
Hyper Market
Speciality Store

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Author:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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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T: +1-845-579-5705
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LED Grow Lights Market Soars: Anticipated to Reach $14.8 Billion by 2032

The global LED Grow Lights Market witnessed a substantial surge in 2021, reaching a value of US$ 1.5 billion. Projections for the next decade indicate an impressive Compound Annual Growth Rate (CAGR) of 22.7%, propelling the total market size from US$ 1.9 billion in 2022 to a staggering US$ 14.8 billion by the end of 2032. This remarkable growth is attributed to various key factors driving the market forward.

An electric light source known as a grow lamp assists in stimulating plant growth in small areas. Grow lights increase crop yield in regions where the lack of or insufficient availability of sunlight causes the climatic conditions to be unsuitable for the plants.

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Due to their superior energy efficiency when compared to conventional grow lights such as high-pressure sodium (HPS) and metal halide (MH) lamps, LED grow lights are becoming increasingly popular.

By using LED grow lights, farmers can significantly improve yield and lower costs. Growers pay less for electricity because LED grow lights use less energy to generate the same amount of light.

Additionally, LED grow lights can be modified to emit only the precise wavelengths of light that plants require for optimum growth. As a result, growers are able to customize their lighting systems to meet the unique requirements of their crops.

There is a rising need for food that can be grown in carefully regulated indoor environments as the world’s population continues to rise. The demand for LED grow lamps is rising as indoor farming systems and greenhouses increasingly rely on these lights.

Key Takeaways from the LED Grow Light Market Report:

Global sales of LED grow lights are set to rise at 22.7% CAGR during the forecast period.
By product, <300 watt LED grow lights demand will rise at 22.6% CAGR over the next ten years.
By installation type, new installation segment is likely to progress at 22.5% CAGR through 2032.
The USA LED grow light market valuation will exceed US$ 2.4 billion by 2032.
China LED grow light market size is set to reach US$ 3.8 billion by 2032
Demand for LED grow lights in Korea is set to increase at 23.2% CAGR over the next ten years.
Japan’s LED grow light industry will cross a valuation of US$ 2.3 billion by the end of 2032.

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“Transition towards indoor farming techniques to meet growing food demand will boost the market. Further, development of more advanced products with better efficiencies will bode well for the market. Says a Future Market Insights analyst.

Who is Winning?

Leading LED grow light manufacturers include Osram Licht AG, Royal Philips Electronics N.V., General Electric Company, Lumigrow, Inc., Heliospectra AB, SMART Global Holdings, Illumitex, Inc., Inc., Everlight Electronics Co. Ltd., Petronas Bridgelux, Inc., and Royal Dutch Shell plc,

To meet end user demand, these companies are focusing on introducing new LED grow lights with better efficiencies. For instance,

In July 2022, AB lighting announced the launch of AB 330 and AB 660. The new line of grow light optimizes power consumption and helps growers reach higher yields.

More Insights Available:

Future Market Insights, in its new offering, presents an unbiased analysis of the LED glow light market presenting historical data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.

The study reveals growth projection in terms of product (less than 300 and more than 300), installation type (retrofit and new installations), and application (indoor farming, commercial greenhouse, vertical farming, turf and landscaping, and research) across various regions.

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Global LED Grow Light Market Segmentation

By Product:

Less than 300 Watts
More than 300 Watts

By Installation Type:

Retrofit
New Installation

By Application:

Indoor Farming
Commercial Greenhouses
Vertical Farming
Turf and landscape
Research

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

Author:

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

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

About Future Market Insights (FMI)

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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Meal Replacement Bars Market Trends 2032: Charting Growth Trajectories with a Projected Valuation of US$ 25.6 Billion and an Impressive CAGR of 8.05%

The meal replacement bars market is expected to witness growth at a CAGR of 8.05% and reach a valuation of US$ 25.6 Billion by 2032, as per Future Market Insights (FMI). Preference for low-fat, low-calorie snacks that are healthier than conventional snacks is improving the growth.

Meal replacement bars are a simple and often healthier solution for a quick on-the-go meal or immediate consumption. The availability of diverse sorts and tastes drives the meal replacement bars market. As a result, these bars are growing increasingly popular, particularly among the working class and the younger population.

Furthermore, as customers examine ingredients before purchasing products, important stakeholders are emphasising packaging and labelling. Brands that are open about the ingredients in their products are more likely to acquire consumer trust.

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They are also investing in research and developmental activities to launch new product variants with multi-functional properties. Consumers are increasingly looking out for organic products to reduce the risk of blood pressure, obesity, and heart-related ailments. Meal replacement bars is available in variants like low-fat, low-calorie, and low-cholesterol as a result demand for this product is expected to rise shortly.

Shift in preference for healthy lifestyle and willingness to spend on products to maintain fitness and immunity against foreign pathogens is expected to boost the demand for meal replacement bars.

Regionally, Asia Pacific market is expected to be a promising market for consumers due to rising awareness about inclusion of nutritious food products and investments in research and developmental activities by regional players.

Key Takeaways from Market Study

North America meal replacement bars market is expected to increase at CAGR of 7.6% through 2032.
Sales of meal replacement bars in Europe are expected to surge at 7.3% CAGR between 2022 and 2032
Market share of Latin America and Oceania in meal replacement bars market is 6.5% and 6.3%, respectively, in 2022.
By function, weight loss management is expected to hold 60% of the global meal replacement bars market share and is expected to increase at a CAGR of 7.2%.

“With rising shift towards plant-based, sugar-free products that are beneficial for health, key brands are focusing on developing new flavours and product variants to stand out in the competition” says a Future Market Insights analyst.

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Competitive Landscape

Key manufacturers of meal replacement bars are majorly focusing on research & development to offer different flavors of products. Customization is expected to contribute maximum revenue generation through sale of meal replacement bars.

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global meal replacement bars market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Meal Replacement Bars Market by Category

By Product Type:

Nut-Free Bars
Gluten-Free Bars
Plant-based Bars
Organic Bars

By Function:

Curb Appetite
Muscle Repair
Fuel Workout

By Sales Channel:

Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
Online Sales Channel
- Company Website
- E-commerce Platform

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Frequently Asked Questions

How much is the global meal replacement bars market worth?
What is the demand outlook forecast for the meal replacement bars market globally?
What was the last 5-year CAGR for the demand in the meal replacement bars market?
At what rate will meal replacement bars demand grow in Europe?
What are the key trends shaping the meal replacement bars demand market?
At what rate will meal replacement bars market demand grow in North America?

Author

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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Nandini Singh Sawlani

Potato Flakes Market Overview 2032: A Comprehensive Analysis Unveiling Industry Dynamics Leading to a Projected Valuation of US$ 11,824.1 Million by 2032

The Potato Flakes Market is expected to see steady growth, with a projected size of US$ 11,824.1 million by 2032, reflecting a healthy Value CAGR of 5.3% from 2022 to 2032. This growth is driven by the increasing demand for convenient and versatile potato-based products, appealing to diverse consumer preferences.

The potato flakes market is predicted to expand because to increased launches and brand building by key potato flakes producers. Leading manufacturers want to expand their global reach. The increased participation of established manufacturers has resulted in a more competitive market environment, resulting in the production of a varied range of potato products that are expected to fuel the industry’s growth.

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The expanded releases and brand building of the major potato flakes companies are projected to propel the potato flakes industry’s overall growth. Leading firms aspire to expand their market footprint outside of the US. As more experienced producers enter the market, a competitive environment develops, promoting the development of a varied range of potato products that will fuel market expansion.

Key Takeaways from Potato Flakes Market Study

According to FMI study’s on the potato fakes market, a large consumer base is looking for products that are naturally sourced. Potato flakes are generally used in dishes that require mashed potatoes. Potato flakes are used as a thickener or base for the preparation of ready-to-eat vegetable gravies and soups. They are also used as an ingredient for potato chips, texturized potato products, snack pellets, etc. Thus, the demand for Potato Flakes is surging.
The global potato flakes market has been segmented based on end-use, where the buyer to consumer segment holds the major share. However, in the upcoming period, the buyer to buyer segment is estimated to show a positive growth due to its increasing applications in different food products.
Based on nature, the global potato flakes market is segmented into organic and conventional types. Due to growing health concern, consumers are looking for products that are grown naturally and are free from chemicals and are not genetically modified.
Eastern Europe and APEJ are expected to lead the global potato flakes market in terms of value. The demand for potato flakes is considerably high in North America. Western Europe is predicted to show a high growth rate in the forecast years. The Latin America market, dominated by Brazil, is also exhibiting high demand for potato flakes.

Who is winning?

Idahoan Foods, McCain Foods Limited, Nestle S.A., Inc., Clarebout Potatoes NV, Goodrich Cereals, Lamb Weston Holdings, Inc., Iscon Balaji Foods Pvt Limited, Lutosa SA, Patwary Potato Flakes Ltd., Bem Brasil Alimentos LTDA, Rixona B.V., Agrarfrost GmbH & Co. KG, Nahr-Engel GmbH, Basic American Foods, Inc., Bob’s Red Mill Natural Foods are some of the key market players.

Leading companies operating in the potato flakes market are aiming at regional expansion via targeting the local distributers to upscale their potato flakes sales and to provide high-quality products to the customers.

In March 2018, Nestle S.A. opened a new quality assurance lab in Araras, Brazil. The move was intended to enhance the company’s organic product portfolio in the region. The company invested around US$ 6.9 Mn to construct the new facility. The quality assurance facility will ensure that its organic products are free from pesticides and genetically-modified organisms.
In April 2018, McCain Foods Limited completed a strategic investment with a highly innovative agriculture company, TruLeaf Sustainable Agriculture. With this partnership, the company is expected to set new standards for efficient crop production and environmental care.
In 2017, Lamb Weston Holdings, Inc. expanded its Richald Washington plant by 2, 90,000 square feet, increasing its production capacity by approximately 300 million pounds annually.

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Potato Flakes Market by Category

By Product Type, Potato Flakes Market is Segmented as:

Business to Consumers
- Hypermarket/Supermarket
- Convenience Store
- Specialty Store
- Traditional Grocery
- Online Retailers
Business to Business
- Food Service Industry
- Food Industry
  - Soups & Premixes
  - Bakery
  - Snacks
  - Frozen Food
  - Baby Food
  - Meat Processing
  - Animal Feed

By Region, Potato Flakes Market is Segmented as:

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

Author

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Yogurt Powder Market Insights: Navigating Trends and Growth Factors Toward a Projected Valuation of US$ 535.4 Million with a Steady CAGR of 7.5%

The yogurt powder market has witnessed significant growth in recent years, driven by the rising demand for convenient and long-lasting dairy products. Yogurt powder is a dehydrated form of yogurt, obtained by removing the moisture content from fresh yogurt. It offers several advantages such as extended shelf life, ease of storage, and convenience in transportation.

In 2023, the yogurt powder market is anticipated to reach a value of US$ 274.3 million. According to Future Market Insights, the market could grow at a 7.5% CAGR between 2023 and 2033. Yogurt powder is a preferred option due to its high nutritional value and probiotic benefits. The market is therefore expected to reach US$ 535.4 million by 2033.

The demand for yogurt powder is expected to increase due to the acceptance of healthy lifestyles and nutrient-rich diets. The substance is good for enhancing digestive health and the immune system. The market for dehydrated yogurt is anticipated to rise in response to consumer preferences for nutrient-dense foods on the go.

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The global yogurt powder market is being driven by the rising demand for yogurt powder in the food manufacturing and restaurant sectors. Several culinary products, such as morning cereals, snacks, pastries, ice cream, baby meals, and others, employ yogurt powder. The fact that yogurt powder has a longer shelf life than fresh yogurt is anticipated to increase demand for yogurt powder on the global market.

Demand is anticipated to be driven by an increase in the product’s use in meals and salad dressings for both flavor and nutrition. The product’s high protein and calcium content makes it beneficial for reducing weight and enhancing intestinal health. Moreover, it is used in the creation of baked goods and confections.

Bakeries and confectionery makers are increasingly using yogurt-based powder as a result of growing customer awareness of the negative consequences of high sugar content, artificial colors, chemicals, and preservatives. In addition, the product has a longer shelf life than fresh yogurt, which is advantageous for bakeries and confectionery producers since it reduces wastage.

According to the shifting food trends, people are choosing meals that support their active lifestyles. Yogurt powder demand is being driven by consumers’ willingness to pay more for products with clean labels. Due to customers’ shifting food consumption habits as a result of rapid urbanization, the demand for skimmed milk yogurt powder has increased in emerging economies.

The yogurt powder market is dominated by Europe, then North America. While few individuals still consume conventional yogurt and are less aware of the advantages of yogurt powder, individuals in certain emerging countries still do. Given the increasing need for dairy products, the yogurt powder market could expand in nations like China.

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KEY TAKEAWAYS

The market in the United Kingdom is anticipated to rise, exhibiting a CAGR of 18% through 2033.
The United States is expected to develop at a 7.4% CAGR during the forecast period.
With a CAGR of 7.7% over the forecast period, Spain is predicted to develop promptly in the market.
In China, the market is expected to proliferate, registering a CAGR of 7.3% over the forecast period.
Germany is estimated to grow decently registering a CAGR of 8.6% until 2033.

COMPETITIVE LANDSCAPE

Key players in the yogurt powder market are Bluegrass Dairy & Food, Inc., Glanbia PLC, Epi Ingredients SAS, Bayerische Milchindustrie eG, BALTIMA Sp. z o.o., Armor Protéines, Döhler Dahlenburg, C.P. Ingredients Ltd, Dr. Suwelack, Kerry Group, Biogrowing, PreGel AMERICA, Inc., ACE International LLP, Ballantyne, Bempresa Ltd., and others.

These market players are concentrating on product innovation to fulfill the shifting consumer demand for convenient and wholesome snack choices. To draw customers, several businesses are releasing fresh yogurt powder products with distinctive flavors, formulations, and packaging. They are also collaborating with distributors and suppliers to broaden their market and boost sales. Certain manufacturers are looking at the market potential in the plant-based and vegan yogurt powder segment, while others are investing in research and development to increase the nutritional content and shelf life of their products.

RECENT DEVELOPMENTS

Yogurt powders were developed by Bluegrass Dairy & Food, Inc. to offer the same enlivening health and wellness benefits as regular yogurt. The company also released non-dairy plant-based powders. A wide range of product lines is complemented by its plant-based powders, which provide everything from a virtually comparable substitute to an earthy, all-natural snack.
Bempresa Ltd. released Optimo Yogurt Powder. Optimo Yogurt Powder is created using cutting-edge technical techniques, maintaining all the properties of yogurt powder while having lower production costs. As a result, it becomes a highly cost-effective and high-quality substitute for products like cakes, candies, and bread.

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Yogurt Powder Market by Category

Product type:

Skimmed Yogurt Powder
Semi-Skimmed Yogurt Powder
Whole Yogurt Powder

Nature:

Organic
Conventional

Flavor:

Regular
Flavored

Berries
Vanilla
Chocolate
Peach
Mango
Banana
Apple
Others (Passion Fruit, Blends)

Application:

Food Industry

Dips and Dressings
Fillings
Bakery
Nutrition and Snack Bar
Desserts
Frozen Novelties
Dry Mixes
Others (Meat Products, Cereals)

Beverages
Cosmetics and Personal Care

End Use:

Household
HoReCa
Industrial

Food and Beverage Processors
Cosmetic Manufacturers

Distribution Channel:

B2B
B2C
Store-Based Retail

Modern Grocery Retailers
Hypermarkets/Supermarkets
Convenience Stores
Food & Drink Specialty Stores
Independent Small Groceries

Online Retail

Author

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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Nandini Singh Sawlani

Hydroponics Market Growth Analysis: Unraveling Opportunities in the Industry with a Projected Valuation of US$ 45,623 Million and a Noteworthy CAGR of 13.7%

The global hydroponics market size is estimated to rise at a CAGR of 13.7% over the forecast period. In 2023, the hydroponics industry is expected to be valued at US$ 12,644 million.

Hydroponics is one of the highly intense crop production methods in agriculture. Plants can be grown using this technique in a soilless environment and with nutritional solutions present. One of the widely used methods for growing crops without the use of pesticides or other artificial ripening agents is hydroponics. Given its capacity to better manage nutrient availability in the system, reduce the amount of time needed to generate significant crop yields, and limit soil-borne ailments, hydroponic crops are predicted to experience a sharp rise in popularity during the forecast period.

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The world’s population is growing quickly, raising the need for food by nearly 200,000 people per day. As crops are lost due to insect infestations, natural calamities like droughts and floods, and pest infestations, the amount of arable land is also reducing globally, and production costs are rising. As a result, commercial hydroponics systems are receiving significant financial investment around the globe.

Being a form of space-efficient food production that even those without access to land in urban areas and rural areas may adopt, hydroponics offers a workable approach to achieving food security. Owing to rising concerns about environmental deterioration brought on by greenhouse effects, hydroponic farming has become more significant. Also, there has been a progressive rise in the need for hydroponic farming to fulfill the mushrooming demand for fruits and vegetables as agricultural infrastructures have evolved and improved.

Since it involves less water, labor, and land, producing food without the use of pesticides or other crop protection agents is very profitable. The growing demand for fruits and vegetables grown without pesticides is another factor boosting the market for hydroponic systems. It is becoming more and more typical for plants to move mechanically. There are likely to be more inventive chances for the sector to flourish as concerns about food supply and security grow.

Hydroponic farming has been progressively growing to increase vegetable output and fulfill the demand that is mushrooming as a result of the growth and development of agricultural infrastructures. Hydroponic farming has become more crucial due to growing worries about environmental deterioration brought on by greenhouse effects.

Hydroponic farming is anticipated to evolve as a result of rising investments in cutting-edge agricultural technology and innovation trends. Since hydroponic farming requires 95% less water than conventional farming, the business is expanding. With the use of this technology, crops may be produced in cities in several vertical and horizontal layers without the need for soil.

In line with the rising appeal of hydroponics throughout the world, businesses and experts are working to boost the effectiveness of the hydroponics system to boost both the quantity and quality of the output. Several companies make significant investments in research and development to obtain cutting-edge technologies that boost output and inspire various cultivars. Strong partnerships with academic institutions and research facilities support the growth of the hydroponics business.

Given the widespread adoption of hydroponics in nations like China, Australia, South Korea, and others, Asia Pacific had the lion’s share of the hydroponics market in 2022. With the proliferation of urban hydroponic farms, FMI anticipated that the market in China and India could grow considerably over the forecast period.

KEY TAKEAWAYS

The market in the United States has grown significantly in 2022 holding a 19.3% share of the global market.
The market in China is expected to grow at a CAGR of 8% over the forecast period.
The market in the United Kingdom is anticipated to grow at a CAGR of 7.5% through 2033.
With a CAGR of 13.4% over the forecast period, India is predicted to grow rapidly in the market.
Germany accounted for 9.9% of the global market in 2022.

COMPETITIVE LANDSCAPE

The top manufacturers of the hydroponics market are Emerald Harvest, Argus Control Systems Limited, Hydroponic Systems International, Emirates Hydroponics Farms, Advanced Nutrients (Canada), Freight Farms, Inc., Green Sense Farms Holdings, Inc., Signify Holding B.V., Terra Tech Corp, and others.

These companies have used a variety of strategies to get a solid advantage over their rivals. They have grown their number of new clients and prosperity by putting both organic and inorganic operational strategies into practice, such as the introduction of innovative goods, acquisitions, mergers, corporate modernization, and collaborations.

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RECENT DEVELOPMENTS

In October 2022, GrowGeneration Corp. (GRWG) established its first hydroponic store in Virginia, a 9,000-square-foot location in Richmond. To take advantage of the growing hydroponics market, GRWG intends to increase the number of its stores in the region.
In July 2022, with a $40 million investment, Bustanica unveiled the leading hydroponic farm in the world. Emirates Crop One, a partnership between Crop One, and Emirates Flight Catering (EKFC), opened its first vertical farm at the site.

Author

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

About Future Market Insights (FMI)

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Nandini Singh Sawlani

Tortilla Market Projections 2034: A Comprehensive Exploration of the Global Landscape Anticipating a Robust Valuation of US$ 75,309.4 Million by 2034

The tortilla market is projected to be worth US$ 45,163.7 million in 2024. The market is anticipated to reach US$ 75,309.4 million by 2034.

Tortilla consumption has risen dramatically in the last ten years. The global tortilla market is anticipated to reach US$ 37,018 million by 2032, growing at a CAGR of 3.4% from 2022 to 2032, according to Future Market Insights. Despite a very slow annual growth rate, more tortilla consumption is projected in the coming years. Population growth, particularly among Hispanics, as well as consumer preferences for tortilla consumption, support this projection.

The tortilla industry is well-known throughout Latin America. Latin America will lead the global tortilla market in 2021, thanks in part to the rapidly growing Hispanic population in the United States. More than 94% of tortillas made or prepared in countries such as Mexico use corn as the major base material.

When compared to other variants such as tortilla chips, taco shells, tostadas and corn tortillas, flour tortillas have a comparatively high value share of the global tortillas market. Tortilla chips, on the other hand, are expected to rise significantly in the next years.

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Research also suggests that, due to increasing demand for Mexican cuisine such as such as tortillas, nachos, enchiladas, tacos, and tamales, especially in North America and Latin America, tortillas, in the on-the-go snacks format, have been gaining traction. Busy lifestyles, deteriorating health conditions, and increasingly urban working population are some factors contributing to the consumption increase of tortillas, as per convenience.

Furthermore, an in-depth consumer sentiment analysis shows that more than 40% of consumers buy tortilla products on a weekly basis, and +50% buy from modern trade stores such as hypermarkets and supermarkets, owing to the product’s convenient availability at acceptable pricing. Tortilla flour-based products, which are one of the most popular Mexican cuisines, are increasing popularity among its target clients in the foodservice industry.

Traditional Tortillas in New Convenient, Flavored Formats to Push Global Adoption

The global tortilla market has witnessed a surge a surge in the launch of new products containing innovative flavors over the last couple of years. Moreover, organic or gluten-free new products are being increasingly adopted in Americas, primarily attributable to the rising demand for the product, with added health benefits. The launch of these new flavored products is expected to have a positive impact on the market, thereby fueling the growth of global tortilla market during the forecast period.

Moreover, significant growth in organized retailing in the form of hypermarket and specialty markets, which are more likely to make savory snacks popular among the consumers, will significantly drive the adoption of tortillas in the coming years.

Key Food Manufacturers Adding New Features to Tortillas to Expand Consumer Base

In new food formulations, key food manufacturers including Cargill and AB Mauri are leveraging the significant growth in the consumption of tortillas and have come up with new features added to tortillas. Cargill has developed a number of whole grain, low-fat tortilla prototypes in an effort to capture a slice of the growing U.S. market for healthy bread alternatives.

With their new patent technology, AB Mauri has developed reduced-fat tortillas, paving way for manufacturers to attract growing base of health conscious consumers. The company’s new patented technology enables manufacturers to develop reduced fat, reduced sodium, wheat-based tortillas. Already widely adopted in American market, AB Mauri has been strategizing on implementing the same patented technology in the European markets as well.

Moreover, FDA approvals for folic acid fortification of corn masa flour, allowing manufacturers to add up to 0.7 milligram of folic acid per pound of corn masa flour, has opened up new opportunities for manufactures to explore new food formulations. Key food manufacturer Bunge, offers corn masa flours and a wide variety of shortenings to help create products that meets all consumer demands.

Market Segments Covered in Tortilla Industry Analysis

Product Type :

Tostadas
Taco Shells
Corn Tortilla
Flour Tortilla
Tortilla Chips

Source :

Corn
Wheat

Processing Type :

Fresh
Frozen

Distribution Channel :

Online
Offline
Supermarkets
Convenience Stores
Others

Region :

North America
Latin America
Europe
South Asia
East Asia
Oceania
MEA

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Key Questions Answered in the Report

How much is the Tortilla market current worth?

Currently Tortilla market is worth more than US$ 26,394.9 Mn (2021).

At what CAGR is the market expected to grow?

Tortilla consumption is expected to grow at a CAGR of around 3.4% during the period 2021-2031.

How was the performance in the last five years?

In terms of revenue, Tortilla grew at a CAGR of around 2.3% during 2016-2020.

What are the key trends boosting Tortilla sales?

The growing awareness of health consciousness among customers in the global market has propelled the industry’s expansion in the worldwide market. The utilisation of tortillas in the wrappers is another element driving this market’s global expansion.

Author

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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Macadamia Market Growth Analysis 2033: Unveiling Potential Opportunities in a Thriving Industry with a Projected Valuation of US$ 5.08 Billion and an Impressive CAGR of 11.2%

By the end of 2022, the worldwide demand for macadamia was estimated to be around US$ 2.2 billion. Further, the net revenue from total macadamia nuts sales globally in 2023 is anticipated to be about US$ 2.37 billion. The entire market value is predicted to rise at an 11.2% annual growth rate between 2023 and 2033. Finally, the global macadamia market value is expected to reach US$ 5.08 billion by the end of 2033.

An evolving trend for healthy snack alternatives among consumers worldwide has significantly increased demand for macadamia nuts. Also, its nutritional properties due to, due to itsevels of monounsaturated fats and other vital components, have increased its popularity in non-native locations. Macadamia powder can be added to several culinary dishes, ranging from baked foods to confectionery, which has generated a diversified and vast customer base.

Currently, investments in precision agricultural techniques and cutting-edge processing technology have increased macadamia production efficiency and assured a consistent supply of high-quality macadamia nuts. Notably, more production of premium macadamia nuts has enabled advantageous pricing, which has contributed to strong revenue growth in the present market.

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Key Takeaways from the Macadamia Market Report

The total consumption of macadamia in the United States is higher in comparison to other countries. The country is estimated to account for almost 24.4% of the global revenue share.
In Europe, Germany is the leading regional market for the processing and consumption of macadamia products. In the current year 2023, this regional market is estimated to contribute to almost 7.4% of the global revenue share.
Though Australia is known to be the native place for macadamia nuts, it has only a 3.2% market share in processed macadamia business worldwide.
In Asia, China is known as the hub for macadamia processing and export. As of 2023, it holds around 13.2% of the global demand for macadamia.
Japan is also a significantly growing market for sales of macadamia in Asia these years. It is expected to hold a global market share of 5.4% in the current year 2023.

“After the emergence of new participants, the global market is seeing an increase in product variety, such as flavored macadamias and value-added goods. So, marketing of novel products with attractive packaging has surged the consumption of macadamia in recent years.”

Competitive Landscape for the Macadamia Market

Industries and participants in the global macadamia business are positioning themselves strategically to benefit from the growing popularity of macadamia outside Australia’s mainland. Additionally, a greater emphasis on marketing and distribution through online sales channels has allowed market participants to reach a broader audience.

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Recent developments by the Macadamia Processing Industries

A South African cooperative firm named Golden Macadamias developed a TOMRA 5C sorting system with Biometric Signature Identification technology in April 2022. This high-end optical sorting system or machine for nuts and dried fruits to achieve the finest product quality with a huge macadamia production volume.

Milkadamia Inc. debuted a new macadamia nut oil milk product line at Natural Products Expo West in March 2022. Macadamia milk under this category comes in salted caramel and pumpkin pie flavors aimed at attracting more consumers in the younger age group.

The World Macadamia Organization, located in China, launched its first consumer marketing campaign in January 2022. It was initiated to promote the importance of macadamias by presenting the ritual of cracking nut-in-shell macadamias during specific Chinese Festivals.

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The Market has been Segmented as

By Nature:

Organic
Conventional

By Form:

Raw
Processed
Oil

By End Use:

Residential
Commercial
Industrial
Food Industry
- Confectionery
- Bakery
- Dairy
- Snacks
- Others
Cosmetic and Personal Care

By Distribution Channel:

Direct
Indirect

Author

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

About Future Market Insights (FMI)

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Nandini Singh Sawlani

Air Separation Plant Market Poised for Remarkable Growth, Aiming at US$ 7.9 Billion by 2028 with a Consistent 5% CAGR

The air separation plant market is gearing up for substantial expansion, currently boasting an impressive valuation of US$ 5.9 billion. With a projected Compound Annual Growth Rate (CAGR) of 5%, the market envisions reaching a significant US$ 7.9 billion by the culmination of 2028. This upward trajectory is strategically influenced by the escalating demand for air separation plants in the healthcare sector, emerging as a pivotal trend set to catalyze global market expansion.

Conducting meticulous half-yearly comparative analyses, Future Market Insights (FMI) provides invaluable insights into the growth prospects of the air separation plant market. This comprehensive report offers crucial information about recent developments exerting a substantial impact on the market’s outlook.

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Key Takeaways from Air Separation Plant Market Study:

The U.S. is anticipated to account for the lion’s share in North America market, owing to the increasing shell gas exploration activities across the country.
China is expected to register robust growth in the air separation plant market, on the back of growing adoption in production of chemicals and iron & steel.
India is forecast to emerge as a highly attractive market in South Asia & Pacific, driven by the upsurge in trend of industrialization in the country.
The U.K. and Germany are estimated to collectively account for the largest share in Europe market, favored by increasing applications across the food & beverage industry.
In terms of end use industry, the chemical industry segment is projected to exhibit steady growth, accounting for around 20% of the overall sales through 2028.

Key Drivers:

Surging demand for medical oxygen and equipment such as continuous positive airway pressure (CPAP) devices and infusion pumps in hospitals for patient treatments is expected to increase the sales of air separation plants across the healthcare segment.
Increasing use of argon gas in casting and welding industries, especially, in manufacturing of specialty alloys and titanium is a primary factor propelling the demand across the argon segment.

Key Restraints:

Extravagant cost of installation, component assemble, operation, and maintenance of air separation plants is hindering the sales in the market.
High energy consumption for cryogenic separation plants as compared to non-cryogenic plants is a factor restraining the growth in the cryogenic separation plant segment.

Competitive Landscape:

Key manufacturers of air separation plants are focusing on mergers and acquisitions to strengthen their global footprint and establish their business different countries. Apart from this, some of the players are aiming at expanding their production capacity to cater to demand for industrial gasses.

For instance,

In November 2021, Nippon Gases, a leading Japanese industrial and medical gases provider, announced signing an agreement with a renowned Italian stainless steel manufacturer, Cogne Acciai Speciali. As per the agreement, Nippon Gases will assist the latter company to modernize its air separation unit to increase its efficiency and reduce energy consumption in production.
In April 2020, CryopAL, a subsidiary of Air Liquide, announced increasing its production of liquid oxygen for medical use to three times of its current production to meet the increasing demand and supply oxygen to patients suffering from respiratory insufficiency.

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Key Players Operating in the Market:

Linde AG
Air Products and Chemicals Inc.
Air Liquide SA
Praxair Inc.
Messer Group GmbH
Universal Industrial Gases Inc.
Taiyo Nippon Sanso Corporation
Technex Limited
Sichuan Air Separation Plant Group
Ranch Cryogenics Inc.
AMCS Corporation
Yingde Gases Group Company Limited.
Others

More Valuable Insights on Air Separation Plant Market:

FMI, in its new report, offers an unbiased analysis of the global air separation plant market, analyzing forecast statistics between 2022 and 2028. The survey reveals growth projections on in air separation plant market with detailed segmentation:

By Type:

Cryogenic Air Separation Plants
Non-cryogenic Air Separation Plants
- Pressure Swing Adsorption (PSA)
- Vacuum Pressure Swing Adsorption (VPSA)
- Membrane Separation

By Gas:

Oxygen
Nitrogen
Argon
Diesel

By End-use Industry:

Air Separation Plants for Chemical Industry
Air Separation Plants for Iron & Steel Industry
Air Separation Plants for Healthcare Industry
Air Separation Plants for Food & Beverage Industry
Air Separation Plants for Paper & Pulp Industry
Air Separation Plants for Oil & Gas Industry
Others

By Region:

North America Air Separation Plant Market
Latin America Air Separation Plant Market
Europe Air Separation Plant Market
East Asia Air Separation Plant Market
South Asia & Pacific Air Separation Plant Market
Middle East & Africa (MEA) Air Separation Plant Market

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Author:

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

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

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

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Nandini Singh Sawlani

Global Bridge Bearings Market Surges Towards US$ 935 Million by 2028, Fueled by Robust 4.8% CAGR

The global bridge bearings market, valued at approximately US$ 674.33 million in 2021, was poised to achieve a milestone of US$ 705.8 million in 2022. With a dynamic upward trajectory, the market anticipates a substantial growth, projecting to surpass US$ 935 million by 2028, driven by a robust Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period.

Bridge bearings, often overlooked yet foundational, play a pivotal role in the infrastructure sector. Their significance is escalating in sync with the thriving global transport infrastructure industry. Leading nations such as China, India, and the United States are at the forefront of expansive road and rail network projects, poised to reshape the landscape of connectivity. As these ambitious projects unfold, the demand for bridge bearings is expected to experience a significant surge.

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Surge in Government Investments for Global Infrastructure Projects and Expansion in Construction Undertakings to Unlock Favorable Prospects for Bridge Bearings Manufacturers:

The swift pace of global urbanization has triggered a remarkable surge in the construction sector on a worldwide scale. Both developing and developed nations’ governments are greenlighting a multitude of infrastructural ventures aimed at fortifying commercial and transportation frameworks. This concerted effort is poised to significantly elevate the global demand for bridge bearings within the construction arena.

Furthermore, an escalating desire for leisure destinations such as amusement parks, luxury sports facilities, and similar recreational establishments in China, Europe, the United States, and the Middle East is propelling the revenue trajectory of the bridge bearings market. For manufacturers of bridge bearings, a promising trajectory lies ahead, contingent on their adept utilization of the myriad of opportunities that the global market presents, coupled with an astute strategy to amplify their product portfolios.

Global Collaborations for Bridge Preservation and Escalating Adoption of Neoprene Elastomeric Bridge Bearings: Defining Trends in the Bridge Bearings Market

An intriguing trend taking center stage in the bridge bearings market is the emergence of global partnerships aimed at safeguarding the integrity of both existing and new bridges. These collaborations are chiefly designed to curtail, delay, or altogether prevent the deterioration of bridges. The ultimate objective is to restore the fundamental functionalities and sustain the structural soundness of bridges over an extended lifespan, ensuring optimum performance over the years.

The American Association of State Highway and Transportation Officials (AASHTO) stands at the forefront of pioneering advanced tools and methodologies for prolonging bridge longevity through preservation treatments and superior construction practices. This association plays a pivotal role in advocating the use of seismic-resistant products like bridge bearings across the United States. Across the Atlantic, the Europe-based National Cooperative Highway Research Program collaborates closely with AASHTO, focusing on comprehensive bridge evaluations and stringent quality control protocols.

Key Players Profiled in Report:

Canam Group Inc.
Trelleborg AB
Ekspan Limited
Epic Polymer Systems Corp.
Freyssinet Limited
Granor Rubber & Engineering Pty. Limited
Gumba GmbH & Co. KG
KantaFlex (India) Private Limited
Mageba SA
Metal Engineering & Treatment Co. Pvt. Ltd.
RJ Watson, Inc.
Structural Rubber Products
Cosmec Inc.
Voss Engineering, Inc.
Zaoqiang Dacheng Rubber Co., Ltd.

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Key Segments Covered:

Bridge Bearings by Material Type:

Steel Bridge Bearings
Rubber and Combined Bridge Bearings

Bridge Bearings by Design Type:

Elastomeric Bridge Bearings
Pot Bridge Bearings
Sliding Plate Bridge Bearings
Roller Bridge Bearings
Spherical Bridge Bearings
Disc Bridge Bearings
Other Bridge Bearings

Bridge Bearings by Region:

North America Bridge Bearings Market
Latin America Bridge Bearings Market
Europe Bridge Bearings Market
South Asia and Pacific Bridge Bearings Market
East Asia Bridge Bearings Market
Middle East and Africa Bridge Bearings Market

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Author:

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani