Teak Veneer Sheet Market in USA and Canada to Reach USD 86.0 Million by 2033: FMI Report

USA and Canada Teak Veneer Sheet Market
USA and Canada Teak Veneer Sheet Market

The demand for teak veneer sheets in the USA and Canada is projected to thrive at a steady CAGR of 3.6% between 2023 and 2033. This growth is driven by increasing applications in furniture, interior design, and decorative paneling due to teak’s aesthetic appeal, durability, and resistance to moisture. Rising consumer preference for high-quality, sustainable wood products is further fueling the market expansion. By the end of 2033, the total market valuation is anticipated to reach approximately USD 86.0 million, highlighting promising opportunities for manufacturers and suppliers across the region.

Teak or Tectona Grandis is one of the renowned tropical hardwood tree species. It is durable, extremely water-resistant, and resistant to rots, pests, and others. Thus, it is widely used for building boats, yachts, outdoor furniture, and others.

Veneer sheets are thin layers of wood logs. They are used for different purposes as they maintain the same natural feel and give an aesthetic appeal to the object.

Yacht/boat is the leading application segment. Teak veneer sheets are being increasingly used during boat/yacht building owing to their various qualities. They find applications in boat decks, cabinets, etc. Hence, widening usage of teak veneer sheets in shipbuilding applications will boost sales.

Similarly, high usage of teak sheer sheets in the building sector will elevate demand through 2033.

Teak is considered to be one of the most superior materials for interior applications. Veneer sheets made from teak are gaining wider popularity in building sector due to their various advantages.

In building & construction, teak veneer sheets are used for flooring, kitchen cabinets, staircase, pillar, and others (window frames, shower tables, bookshelves, tables, walls, and doors). It is used for interiors as it provides a premium feel.

Growing usage in home decor for aesthetic looks will uplift teak veneer sheet demand across the USA and Canada.

Key Takeaways from Teak Veneer Sheet Market Study

  • The USA and Canada teak veneer sheet market is set to expand at 6% CAGR through 2033.
  • By grade, a grade segment will generate significant revenues over the next ten years.
  • By application, yacht/boat segment will thrive at a steady pace through 2033.
  • The USA teak veneer sheet industry will reach a valuation of US$ 51.8 million by 2033.
  • Teak veneer sheet sales revenue in Canada is likely to reach US$ 34.3 million by the end of 2033.

“Booming building and boating industries will continue to bolster teak veneer sheet sales across the USA and Canada. Teak Veneer Sheet manufacturers will find significant opportunity in streamlining their production lines for A grade teak veneer. Not only are these of superior quality, but its functionality helps it sell for high prices for use in boats and furniture.” says a lead FMI analyst.

Competitive Landscape

Greenlam Industries Ltd., Tank Group, GL Veneer, Inc., Oakwood Veneer Company, Natural Veneers, FormWood Industries, Lenderink Technologies Inc., Central India Veneer Private Limited, Century Ply, Sauers & Company Veneers, Veneer Technologies Inc., M.P. VENEERS PVT. LTD., Starwood Veneers Pvt. Ltd., and Duroply Industries Limited are few of the leading teak veneer sheet manufacturers profiled in the report.

These market participants are focusing on increasing their production capacities to cater to the rising demand from end users. They are also launching new products and special production techniques, as well as reducing prices to expand their customer base.

Recent Developments:

  • In 2020, Crown Veneer announced the expansion of their production capabilities, including the installation of a new veneer splicing line and a new veneer dryer.

It also introduced a new line of sustainable teak veneer sheets, which are produced using only FSC-certified teak from responsibly managed forests.

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USA and Canada Teak Veneer Sheet Market Segmentation

By Grade:

  • A Grade
  • B Grade
  • SB Grade
  • C/Utility Grade

By Application:

  • Yacht/Boat
    • Deck and Deck Panels
    • Cabinets
    • Others
  • Building
    • Flooring
    • Kitchen Cabinets
    • Staircase
    • Pillars
    • Others
  • Others

By End Use:

  • Commercial
  • Residential

By Country:

  • USA
  • Canada

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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T: +1-347-918-3531
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Rising Industrial Demand Drives USA and Canada Alumina Market to USD 5,491.3 Million by 2032

USA and Canada Alumina Market
USA and Canada Alumina Market

The USA and Canada alumina market is poised for steady growth, with sales expected to witness a CAGR of 5.1% over the forecast period from 2022 to 2032. Driven by increasing demand across various industries such as automotive, construction, and electronics, the market is projected to reach a valuation of USD 5,491.3 million by the end of 2032. Factors such as advancements in manufacturing processes, rising adoption of alumina in industrial applications, and investments in infrastructure development are further fueling market expansion. Additionally, the growing emphasis on sustainable materials and innovations in alumina-based technologies are expected to create lucrative opportunities for market players in the coming years.

Aluminum is considered to be the primary raw material for a wide range of industries, especially for automotive, aerospace, and defense sectors. During World Wars I and II, about 90% of USA aluminum production went into defense and military uses. The metal remains essential to several components of modern warfare and owing to this, there is a high demand for alumina for the production of aluminum.

The ongoing Russia-Ukraine war would create a new growth opportunity for key players for the manufacturing of military and defense weapons as the USA is a leading supplier of weapons to Ukraine. There will hence be huge demand for aluminum production across the country. Canada’s aluminum production is mainly exported to the USA and it is projected to further create a lucrative opportunity for alumina production in the United States and Canada during the assessment period.

Key Takeaways from United States and Canada Alumina Market Study

  • Based on application, the aluminum production segment is projected to generate a share of around 1% in the United States and Canada alumina market by 2032.
  • Canada is a prominent importer of alumina with an estimated import volume of 6,225 kilotons.
  • Central Canada and South United States are likely to together capture about 2% of the alumina market share.
  • The United States and Canada alumina market is estimated to witness a CAGR of around 1% on the basis of value.
  • The United States and Canada alumina industry is estimated to reach a valuation of US$ 5,491.3 million in 2032.

“Increasing demand for electronic components and home appliances such as laptops, refrigerators, television panels, smartphones, and washing machines is projected to drive sales of alumina across the United States and Canada. Key electronics manufacturers are set to use aluminum for manufacturing their in-house products to maintain cost-effectiveness and offer high performance,” says a lead analyst at Future Market Insights.

Competitive Landscape: United States and Canada Alumina Market

The market for alumina across the USA and Canada is set to be a consolidated industry, where key players are anticipated to hold a prominent share. Few of the renowned manufacturers in the market include REFRACTRON TECHNOLOGIES CORP., USA Electrofused Minerals, Inc., Washington Mills North Grafton, Inc., Great Lakes Minerals, LLC, Calix Ceramic Solutions, Illinois Valley Minerals (IVM), Cer-Met, Inc., Aluchem of Little Rock and Metal Exchange Corporation., and Nature Works LLC among others.

Key players are focusing on expanding their production capacities to improve their geographic footprint all over the globe, as well as to compete with their rivals. Few of the key companies are aiming to invest huge sums in alumina production backed by a significant surge in terms of demand from the automotive and defense industries.

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Alumina Market Segmentation

By Grade:

  • Metallurgical Grade
  • Refractory Grade
  • Grinding Grade
  • Others

By Application:

  • Aluminium Production
  • Abrasives
  • Ceramics
  • Refractories
  • Others
  • Air Treatment

By Country:

  • USA
  • Canada

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
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USA and Canada Potassium Sulfate Market to Reach USD 564.4 Million by 2032: FMI Study

USA and Canada Potassium Sulfate Market
USA and Canada Potassium Sulfate Market

The USA and Canada potassium sulfate market is projected to experience steady growth, reaching a valuation of USD 564.4 million by 2032. This growth is driven by increasing demand for potassium sulfate, particularly in the agricultural sector, where it is widely used as a premium fertilizer to enhance crop yield and quality. With a projected CAGR of 2.8% between 2022 and 2032, the market’s expansion is supported by rising awareness of nutrient-rich fertilizers, growing adoption of sustainable farming practices, and the need for chloride-free alternatives to potassium chloride in sensitive crops. The U.S. and Canada’s robust agricultural output and focus on improving productivity further position potassium sulfate as a critical input for farmers across the region.

Changing preferences towards less toxic and chlorine-free fertilizers across booming agriculture industry and increasing need for improving crop yields are some of the key factors driving the U.S. and Canada Potassium Sulfate market.

Significant production volume of crops across the North America is consuming enormous volumes of fertilizers like potassium chloride and Potassium Sulfate. However, FMI predicts the consumption of Potassium Sulfate to increase at a significant pace as it does not contain chloride, which can be harmful to some crops. This will accelerate growth in the U.S. and Canada Potassium Sulfate industry.

Similarly, the need for potassium and sulfur nutrients for healthy growth of crops is prompting farmers across North American countries to use Potassium Sulfate. Fertilizers such as sulphate of potassium (SOP fertilizer) support plant growth and increases crop yield. Hence, growing focus on increasing crop yield will elevate Potassium Sulfate demand across the U.S. and Canada.

Key Potassium Sulfate companies are focusing on increasing their market presence by enhancing their production capacities and by acquisition of small and medium-sized market participants. Several end users and distributors import Potassium Sulfate from other countries to meet the growing demand in the country and also due to low prices. Increasing presence in the untapped market is also a key growth strategy of the players.

Subsequently, the Potassium Sulfate market is significantly influenced by research and development in environment-friendly fertilizers, multi-nutrient fertilizers. Based on these factors significant investment has been made in developing Potassium Sulfate from eco-friendly materials and processes, which is expected to fuel the demand for Potassium Sulfate in the forecast period.

“Farming process in the North America is growing in terms of technology as well as sustainability, where environment-friendly crop nutrients like Potassium Sulfate are being preferred as compared to their counterpart fertilizers from the end users,” says an FMI analyst.

Explore the Full Report for Detailed Insights!

Key Takeaways:

  • The global market of Potassium Sulfate is projected to witness a CAGR of magnitude 2.8% during the forecast period of 2022 and 2032.
  • By product form, granular Potassium Sulfate is estimated to account for about 65% of the overall market size.
  • Based on application, tree nuts segment is expected to capture a significant portion of the U.S. and Canada Potassium Sulfate market during the forecast period.
  • The U.S. remains the leading consumer of Potassium Sulfate across the North America and the trend is expected to continue during the forecast period.
  • Canada’s Potassium Sulfate market is likely to grow at a moderate CAGR during the forecast period.

Who is Winning?

The market of Potassium Sulfate is estimated to be a consolidated market, where key players are expected to account for more than 50% share of the market. Compass Minerals International, Inc., The Mosaic Company, SOPerior Fertilizer Corp., Tessenderlo Kerley, Inc., Interpid Potash, Inc., K+S North America Corporation, and many others are some of the manufacturers of Potassium Sulfate profiled in the full version of the report.

Key players are focusing on expanding their production capacity to meet the growing market demand and strengthening their distribution network to increase their market presence all over the region and to gain maximum traction in the market. Further top players are also investing significantly in innovation in the product series.

Potassium Sulfate Industry Segmentation

By Product Form:

  • Granular
  • Powder
  • Liquid

By Application:

  • Tree nuts
  • Fruits
  • Vegetables
  • Tobacco
  • Others

By Country:

  • USA
  • Canada

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Naturally Derived Sweeteners Market to Grow at 5.9% CAGR Through 2032, Predicts FMI

Naturally Derived Sweeteners Market

The Naturally Derived Sweeteners Market refers to the industry that deals with the production, distribution, and consumption of sweeteners derived from natural sources. These sweeteners are typically obtained from plants or other natural sources and are used as alternatives to artificial sweeteners, such as aspartame or saccharin.

The naturally derived sweeteners market is anticipated to develop at a CAGR of 5.9% from 2022 to 2032, reaching a worth of USD 9.6 billion in 2022 and surpassing USD 17 billion in 2032.

In recent years, the global natural sweeteners market has seen increasing trends. The growth of this industry is primarily driven by an increase in consumer health consciousness, which encourages demand for healthier food options, an increase in demand for natural sweeteners due to a shift in consumer preferences toward organic products, and a growing demand for alternatives of sugar in a variety of food and beverage applications.

Ascending consumer awareness about the consumption of naturally derived food ingredients is expected to continue underpinning the demand for naturally derived sweeteners over the upcoming years. Being perceived as a potential replacement to conventional sugars, naturally derived sweeteners are likely to demonstrate promising consumption through the next decade. High traction for plant-based sweeteners or those sweetening agents that contain only naturally sourced ingredients is expected to create several opportunities in the consolidated marketplace of naturally derived sweeteners. Furthermore, several governments are extending financial support to encourage natural ingredient cultivation, creating a favorable scenario for farmers especially in developing countries.

Competition Landscape: Top Modified Naturally Derived Sweeteners Manufacturers

According to the market research E. I. du Pont de Nemours Company, Archer Daniels Midland Company, Merisant Company, Tate & Lyle PLC, Cargill, Madhava Natural Sweeteners, PureCircle Limited, Herboveda India Pvt. Ltd.

GLG Lifetech Corporation Wisdom Natural Brands (SweetLeaf Stevia), are among the key players in the naturally derived sweeteners market.

Because of the rising prevalence of diabetes and obesity among consumers around the world, there is a significant increase in demand for low-calorie and sugar-free products, which is expected to boost the growth of the Naturally Derived Sweeteners Market.

Global Naturally Derived Sweeteners Market Segmentation

By Product Type:

  • Stevia
  • Palm Sugar
  • Coconut Sugar
  • Honey
  • Maple Syrup
  • Monk Fruit Sugar
  • Agave Syrup
  • Lucuma Fruit Sugar
  • Molasses
  • Natural Sweetener Blends

By Form:

  • Powder
  • Liquid
  • Crystals

By Nature:

  • Organic
  • Conventional

By End Use:

  • Food
    • Bakery Goods
    • Sweet Spreads
    • Confectionery
    • Dairy Products
    • Canned Food
    • Others
  • Beverages
    • Powdered Drinks and Mixes
    • Carbonated Drinks
    • Fruit Drinks & Juice
    • Others
  • Personal Care
  • Pharmaceuticals
  • Tabletop Sweetener

Sales Channel:

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

Region:

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

Download the full report for in-depth insights. https://www.futuremarketinsights.com/reports/naturally-derived-sweeteners-market

Frequently Asked Questions

  • How much is the naturally derived sweeteners market current worth?
  • At what CAGR is the market expected to grow?
  • How was the performance in the last five years?
  • What is boosting naturally derived sweeteners sales?
  • How are market players reacting to the new developments in the market?
  • How much share does the top 5 companies hold?
  • Which are the major countries driving demand for naturally derived sweeteners?
  • Who are the major players in naturally derived sweeteners market?
  • What outlook does East Asia provide?
  • At what rate will the U.S. naturally derived sweeteners market grow?

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Health-Conscious Consumer Demand Fuels Vitamin C Ingredients Market Growth at 5.6% CAGR by 2033

Vitamin C Ingredients Market

According to an industry report, the vitamin C ingredients Market is expected to generate USD 2,704 million by 2023. Estimates indicate the market is forecast to reach USD 4,657.5 million between 2023 and 2033, representing a CAGR of 5.6%. The rising incidence of cardiovascular diseases and increasing demand for skin care products are expected to drive the market for vitamin C ingredients.

Companies that manufacture food, beverages, and dietary supplements may experience fluctuations in demand due to changes in consumer preferences, health trends, and research on its benefits. Since Vitamin C is a well-known antioxidant and contributes to the immune system, it has historically been in high demand.  Water-soluble vitamins like this need to be replenished regularly through diet or supplements in order for the human body to store them. In addition to being found in many fruits and vegetables, vitamin C is also commonly found in food and beverage products, cosmetics, and dietary supplements.

Several studies have suggested that vitamin C can be beneficial to heart health, especially when consumed in moderation. In addition to lowering blood pressure and reducing LDL cholesterol, it improves endothelial function, the key to a healthy circulatory system. Increasing stress levels and the occurrence of cancers are expected to grow the demand for vitamin C ingredients in the market. In studies, it has been proven that high doses of vitamin C could reduce the body’s stress response and reduce overall cortisol production.

Key Takeaways from the Market Study

  • Between 2023 and 2033, the vitamin C ingredients market is likely to experience a CAGR of 5.6%.
  • Based on the report, the vitamin C ingredients market experienced a growth rate of 2.4% between 2018 and 2022.
  • The United States held 22.8% of the vitamin C ingredients market share in 2022.
  • With strong growth over the past few years, China accounted for a 7.9% CAGR in 2022.
  • According to estimates, Japan held a market share of 3.6% in 2022.
  • A 4% share of the global market for vitamin C ingredients was contributed by the German market in 2022.
  • By 2022, the United Kingdom represented a 3.8% revenue share in the vitamin C ingredient sales in the market.

“With chronic diseases on the rise and new products entering the market, the market is expected to see a growth in demand for vitamin C ingredients. Increasing demand for natural food ingredients combined with an increase in pharmaceutical and cosmetics demand will drive the market to grow,” says an FMI analyst.

Competitive Landscape

Vitamin C ingredients companies are engaging in various partnerships and collaborations to expand their business and gain synergistic benefits. As vitamin C ingredients are mostly used in bakery products, jams, and medicine along with sports nutrition, players in the vitamin C ingredients market are focusing their product offerings on food and beverage and pharmaceutical companies.

  • In April 2023, Unilever introduced a topical formula that uses vitamin C and olivine extract to promote youthful, vibrant skin. Unilever claims that the leave-on formula contains vitamin C dissolved in sodium ascorbyl phosphate and a olivine mineral extract that improves skin tone, skin brightness, and masks visible signs of aging. Formulas could be manufactured as liquids, lotions, creams, foams, and sticks, but serums and essences were ideal.

Know More about What the Vitamin C Ingredients Market Report Covers

Future Market Insights offers an unbiased analysis of the global vitamin C ingredients market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the vitamin C ingredients market, the market is segmented based on product type, form, source, process, and end-use industry type across six major regions.

Download the full report for in-depth insights. https://www.futuremarketinsights.com/reports/vitamin-c-ingredients-market

Vitamin C Ingredients Market by Category

By Product Type:

  • Ascorbic Acid
    • Ascorbic Acid 90% Granulation
    • Ascorbic Acid 95% Granulation
    • Ascorbic Acid 97% Granulation
  • Sodium Ascorbate
  • Calcium Ascorbate
  • Coated Vitamin C
  • Others

By Form:

  • Powder
  • Granules
  • Others

By Source:

  • Natural
  • Synthetic

By Process:

  • Reichstein Process
  • Two-Stage Fermentation Process

By End-Use:

  • Food & Beverages
  • Cosmetics & Personal Care Products
  • Pharmaceuticals
  • Animal Feed

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Phycocyanin Market Expected to Reach USD 1.49 Billion by 2033, Says FMI

Phycocyanin Market

The anticipated value of the worldwide phycocyanin market in 2022 was USD 754.40 million. The market is anticipated to reach USD 1,487.7 million, growing at a CAGR of 7% from 2023 to 2033 due to shifting customer preferences toward natural food-grade substances.

Phycocyanin is a natural blue pigment derived from certain species of blue-green algae, also known as cyanobacteria. It is widely used in various industries, including food and beverages, pharmaceuticals, cosmetics, and agriculture, due to its unique properties and potential health benefits.

The benefits of phycocyanin, a substance produced from spirulina, in terms of nutrition and color are driving tremendous expansion in the food and beverage industry. The pigment is mostly used as a natural coloring addition in the food industry. Its use as an additive for food coloring has received permission from the U.S. Food and Drug Administration (FDA).

The organically produced pigment can be used as a nutraceutical component since it has antioxidant activity both in vitro as well as Vivo. Many countries forbid the import and export of items that include artificial food colors, which is assisting the phycocyanin industry’s growth.

Phytocyanin is one of the few naturally generated blue hues acknowledged in Europe, Asia and North America. Its use as coatings for pharmaceuticals and nutritional supplements was also permitted a few years ago. Spirulina extract is exempted from certification by the U.S. FDA Code of Federal Regulations since it has been approved as a color additive. It is produced by sifting spirulina platensis dry biomass and separating it with water.

Increasing the patent manufacturing process of these substances to ensure a stable supply of pigments, strengthening distribution channels, and increasing consumer awareness of the various benefits of natural components, particularly in emerging markets, may further contribute to worldwide expansion.

Key Takeaways from the Market Study

  • Global phycocyanin market is expected to be valued at US$ 785 million by 2023
  • From 2018 to 2022, the market demand expanded at a CAGR of 2.7%.
  • From 2023 to 2033, the United States market for phycocyanin is projected to account for about 20% of global market share.
  • By form type, the powder segment was estimated to acquire 76.9% share in 2022.
  • On the basis of grade, the E18 food grade segment acquired a 56.9% market share in 2022.

“The phycocyanin products are gaining traction due to its natural origin, health benefits and application across a wide range of sectors.” Remarks an FMI analyst.

Competitive Landscape

Prominent players in the phycocyanin market are Cyanotech Corp, DDW Inc., DIC Corporation, Dongtai City Spirulina Bio-Engineering Co., Ltd., Fuqing King Dnarmsa Spirulina Co., Ltd., GNT Holding B.V., Sensient Technologies Corp., Parry Nutraceuticals Limited, Döhler GmbH, Naturex S.A., Naturalin Bio-Resources Co., Ltd, Far East Bio-Tec Co., Ltd., Fraken Biochem Co., Ltd. and others.

Some key developments of the leading companies in this market are:

  • A cooperative study into the impacts of the naturally occurring blue pigment phycocyanin obtained from DIC-cultivated Spirulina will be launched in 2022, according to an announcement made by DIC Corporation, Leave a Nest Co., Ltd and Innoqua Inc.
  • Innoqua’s core “environmental transfer technology,” which enables the recreation of particular marine ecosystems in enclosed environments (aquariums), will be used by DIC and Innoqua to raise corals and evaluate the efficacy of phycocyanin in preventing coral bleaching with the help of Leave a Nest.
  • The research will examine whether phycocyanin’s antioxidant qualities and its ability to block particular wavelengths of light when dispersed in seawater are effective in preventing coral bleaching, in addition to whether corals that absorb phycocyanin produce red fluorescence and do so in order to reduce the stress caused by solar radiation.

Download the full report for in-depth insights. https://www.futuremarketinsights.com/reports/phycocyanin-market

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global phycocyanin market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033. The following are the key segments profiled in the Global Phycocyanin Market Report.

By Nature:

  • Organic
  • Conventional

By Form:

  • Powder
  • Liquid

By Grade:

  • Phycocyanin E18
  • Phycocyanin E25
  • Phycocyanin E3.0

By Application:

  • Food & Beverage
  • Cosmetics & Personal Care
  • Nutraceuticals
  • Animal Feed
  • Aquaculture

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Texturized Vegetable Protein Market Poised for Rapid Growth with Record CAGR by 2031

Picture background
Texturized Vegetable Protein Market

The Texturized Vegetable Protein market is a rapidly growing segment of the food industry that offers a plant-based alternative to meat-based protein sources. Texturized Vegetable Protein, also known as textured soy protein or textured plant protein, is derived from soybeans and other plant-based ingredients. It is widely used as a meat substitute due to its high protein content, texture, and versatility in various food applications.

The global TVP market has witnessed significant growth in recent years, driven by several factors. Firstly, the increasing consumer demand for plant-based and vegetarian/vegan diets has propelled the market forward. As people become more health-conscious and environmentally aware, they are seeking alternatives to traditional meat products. TVP provides a sustainable and ethical option by reducing reliance on animal protein.

The rising awareness among consumers about a multitude of health benefits of plant-based sources of protein has been aiding the market for texturized vegetable protein. Future Market Insights (FMI) in a new study has forecast the market to exhibit 6.5% CAGR by 2031. Growth forecasts continue to remain positive for the market, thanks to increasing number of vegetarian population worldwide.

Continuously increasing demand for food & beverage products which provide nutritional benefits with sensory taste is one of the major factor driving the demand for texturized vegetable protein. Due to increasing awareness regarding animal cruelty and environmental damages caused by excessive consumption of might the demand for texturized vegetable protein is expected to increase.

These protein sources also contain lower amount of saturated fat and cholesterol as compared to meat products hence are considered to have more health benefits. Among products available, the demand for soy protein is expected to be the highest. As per FMI, the soy protein segment is forecast to account for over 80% of the market through 2031.

Key Takeaways from the Texturized Vegetable Protein Market Study

The North American texturized vegetable protein market leads in terms of market size and accounts for 30.1% of the global texturized vegetable protein market in 2021. The Soy Protein texturized vegetable protein market is expected to have a market share of 70.0% of the global texturized vegetable protein market in 2031. In the nature segment, Conventional holds 97.9 % of the texturized vegetable protein market.

In the end-user segment, Industry holds the maximum market share of 76.1% in 2021 of texturized vegetable protein market where Meat Analogues holds 42.8% globally in 2021. Soy protein has a major share by product type and is anticipated to grow significantly over the forecast period. North America have a large number of companies and thus, majority of companies are emphasizing on offering non-GMO products, which are processed through extrusion-based technology, with enhanced functional properties so that their product can comply with strict requirements of clean label products.

“Benefits of opting vegan proteins are now gaining popularity due to which many big companies are investing in the production and innovation of texturized vegetable protein. Several manufacturers are acquiring or merging with key companies to expand their product portfolio and increase their market share. E-commerce and online stores are easing entry barriers and distribution costs. These factors are expected to make competition fiercer within the market” said a lead analyst at FMI

Who is Winning?

The global population is increasing at a rapid rate and it is expected that the population will be around 9.5 Bn by 2050 from 7 Bn in 2017. The situation is set to put quite a strain on the food and supply of raw material, resulting in the need for alternate protein sources. Key players operating in the market are adopting various strategies, which include expansion of production capacity and launch of various products.

A few of the leading players operating in the texturized vegetable protein market are Archer Daniels Midland Company, CHS Inc., Roquette Frères, Beneo GmbH, Danisco A/S, Vestkron A/S, Cargill Inc., FUJI OIL CO., LTD., Puris Proteins, LLC., MGP Ingredients, Inc., Crown Soya Protein Group, Sotexpro SA, Wilmar International Ltd., Gushen Biotechnology Group Co., Ltd., Ingredion Inc.

Download the full report for in-depth insights. https://www.futuremarketinsights.com/reports/texturized-vegetable-protein-market

Texturized Vegetable Protein Market Key Segments

Product Type

  • Soy Protein
  • Wheat Protein
  • Pea Protein
  • Rice Protein

Nature

  • Organic
  • Conventional

Form

  • Chunks
  • Slice
  • Flakes
  • Granules

End Users

  • Household
  • Commercial
  • Industry
    • Food Industry
      • Bakery
      • Snacks
      • Ready Meals
      • Sports Nutrition
      • Clinical Nutrition
      • Baby Food
      • Meat Analogues
      • Others
    • Animal Feed

Distribution Channel

  • Direct
  • Indirect
    • Store Based
    • Hypermarket
    • Convenience St.
    • Traditional Store
    • Online Retails

Region

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

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Aquaponics Market Predicted to Surpass USD 3.4 Billion by 2033, Reports Future Market Insights

Aquaponics Market

The global aquaponics market is anticipated to rise significantly, rising from USD 1,560 million in 2023 to USD 3,415.5 million by 2033, per FMI study. Aquaponics, a sustainable farming technique that combines aquaculture and hydroponics, has a number of advantages over traditional crop cultivation, including significant water savings and a decreased need for pesticides and synthetic fertilisers due to effective resource management.

As per FMI’s analysis, the global aquaponics market is predicted to surge from USD 1,560 million in 2023 to USD 3,415.5 Million by 2033. The aquaponics industry is set to observe significant growth in the assessment period. Aquaponics proponents frequently quote plenty of advantages that result from this form of farming.

It has a lot going for it, including environmental awareness. Only 10% of the water required for conventional crop cultivation is used in aquaponics systems. The usage of pesticides, herbicides, and synthetic fertilisers can be drastically decreased or perhaps totally eliminated with effective resource management.

Due to the growing global warming, consumers are undoubtedly being more careful when making daily decisions. As a result, people all across the world are getting pickier and more interested in sustainable practises.

The aquaponics systems can be readily scaled to suit market demands if there is enough room. Producers and farmers are in a stronger position as a result. Business prospects are expected to rise as a result of all of the aforementioned advantages in the years to come.

However, a few restrictions associated to aquaponics could prevent the growth of the sector. Most people would classify aquaponics as a labour- and management-intensive discipline. This is due to ongoing research on fish health, water quality, and plant infections.

Aside from this, controlling temperature can be expensive and time-consuming. This is particularly true when operations last all year long and into the winter. Costly system components can be either built or purchased. In the aquaponics system, some fish species can be difficult to grow to market size. Additionally, toxicity problems and delayed harvests might result from the treatment of pests and diseases.

These are just a few of the difficulties that farmers and connected businesses must overcome. It is anticipated that a wide range of opportunities for aquaponics would spur market expansion.

Top Highlights from the FMI’s Analysis of the Aquaponics Market:

  • The United States market is projected to attain a lion’s share over the forecast period. The country has been estimated for a 26.8% market share in 2022.
  • In Europe, Germany grabbed a 5.5% market share. Alongside this, the United Kingdom is projected to register a CAGR of 5.1%.
  • The intensely growing market for aquaponics is assessed to be India in the forecast period. The country is anticipated to assume a pace of 16% CAGR.
  • Based on application, the fish segment is projected to be at the forefront.
  • Based on application, fruits, and vegetables are expected to be the top segments in the coming years.

Competitive Landscape of Aquaponics Market: A Closer Look at Market Whereabouts:

Key players in the market are working on promotional activities to capture users at a wider scale and increase their revenue. Manufacturers are also providing and practising quality certifications to raise their market presence. This also creates awareness among people and unfolds substantial opportunities for key companies.

Presently, Nelson & Pade Aquaponics provides a patented Clear Flow Aquaponics System, equipped with ZDEP from Nelson Pade. These are fully-developed comprehensive system packages that are suitable for those planning to produce aquaponics food on a substantial scale.

Download the full report for in-depth insights. https://www.futuremarketinsights.com/reports/aquaponics-market

Key Companies Profiled:

Nelson & Pade Aquaponics, Practical Aquaponics, Aquaponics USA, The Aquaponic Source, Pentair Aquatic Eco-System, Inc.

Key Segments

By Type:

  • Media Filled Grow Beds (MFG)
  • Nutrient Film Technique (NFT)
  • Deep Water Culture (DWC)
  • Others

By Component:

  • Bio Filter
  • Settling Basins
  • Fish tanks
  • Soil-free plant bed
  • Rearing Tanks
  • Aquaponics Produce
  • Others

By Equipment:

  • Pumps and Valves
  • Water Heaters
  • Fish Purge Systems
  • Aeration Systems
  • Water Quality Testing
  • Others

By Applications:

  • Fish
  • Herbs
  • Fruits
  • Vegetables

By End User:

  • Commercial
  • Home Production
  • Research

By Regions:

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

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Macadamia Industry Set to Reach USD 5.2 Billion by 2034, Driven by Healthy Snacking Trends

Macadamia Industry

The global macadamia market size is valued at USD 2.45 billion in 2024 and is anticipated to surpass a valuation of USD 5.2 billion by 2034. The macadamia market expansion is estimated at a CAGR of 7.80% from 2024 to 2034.

People are becoming more cognizant of their health and realizing how important it is to choose wholesome snack alternatives. Macadamia nuts are unique because they contain a high percentage of monounsaturated fat, which is associated with heart health benefits. Snacks that not only satiate appetites but also improve consumers’ well-being are highly sought after. The demand for macadamia nuts as a guilt-free snack option has increased due to this trend toward better eating habits, which is fueling the market’s rise.

Culinary trends and shifting customer tastes are the primary causes of the food industry’s ongoing change. The distinct flavor and texture of macadamia nuts present an opportunity for culinary innovators and food producers to develop novel products. Macadamia nuts lend a sense of richness and refinement to a variety of culinary products, from rich chocolates to healthful salads. The increasing need for high-quality ingredients is mirrored in the demand for macadamia nuts, which are a flexible and aromatic addition to a wide range of food items.

Hawaii, South Africa, Australia, and other places with suitable weather are the places where macadamia nuts are grown. These regions have realized how profitable it is to ship macadamia nuts abroad, particularly to nations where they are not customarily eaten. With their expanding middle classes and rising disposable incomes, emerging countries like China and India offer substantial prospects for market development. Producers can widen their client base and encourage future growth in the worldwide macadamia industry by utilizing these export destinations.

Download the full report for in-depth insights. https://www.futuremarketinsights.com/reports/macadamia-market

Key Takeaways from the Macadamia Market Report

  • The global market size expanded at a 6.60% CAGR from 2019 to 2023.
  • The organic nature segment holds 21% of market shares in 2024.
  • The raw form segment captured 24% of market shares in 2024.
  • The market size in the United States is projected to rise at a 6.60% CAGR through 2034.
  • The market size in Germany is anticipated to develop at a 7.60% CAGR through 2034.
  • The market size in China is estimated to surge at a 3.40% CAGR through 2034.
  • The market size in India is expected to increase at a 4.20% CAGR through 2034.

Competitive Landscape

The macadamia market is competitive, with established competitors and rising rivals fighting for market dominance and distinction. Established firms, such as Mauna Loa Macadamia Nut Corporation and Macadamia Processing Company (MPC), have strong brand awareness and distribution networks, providing them a competitive advantage in key markets. These companies frequently use economies of scale, vertical integration, and strategic alliances to preserve their market leadership and promote expansion.

Recent Developments

  • In September 2023, Milkadamia launched two new products, Milkadamia Coffee Latte, and Milkadamia Milk Tea. Both products are made using macadamia milk.
  • In March 2023, PlantBaby launched organic macadamia milk under its Kiki Milk portfolio.

Note from the Analysts

“Success in the growing macadamia industry requires investing in creativity, cooperation, and sustainability. Companies must concentrate on differentiating themselves and fulfilling sustainability standards in order to succeed in severe competition and shifting consumer preferences.” Says a Lead Analyst at Future Market Insights (FMI).

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

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Licorice Root Market Projected to Exceed USD 2 Billion by 2034, According to FMI Report

Licorice Root Market

The global licorice root market is anticipated to reach a valuation of USD 980.0 million in 2024, driven by expansion of nutraceutical industry. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.4% between 2024 and 2034, and reaching a total valuation of approximately USD 2,002.1 million by 2034.

Ongoing research and development activities focused on exploring the therapeutic properties and potential applications of licorice root are expanding the market opportunities, which includes studies on its anti-inflammatory, anti-diabetic, and anti-cancer properties, among others.

The increasing demand for functional food and beverages, which offer health benefits beyond basic nutrition, is driving the inclusion of licorice root extracts as a natural ingredient. The trend is expected to continue as consumers seek healthier alternatives to traditional products.

There is an increasing preference for herbal supplements among consumers seeking natural remedies for health issues, with growing concerns about synthetic chemicals and their side effects. Licorice root supplements are witnessing increased demand due to their perceived health benefits and minimal side effects.

The licorice root, being a natural plant extract, is gaining traction as a preferred ingredient in various products catering to vegan and vegetarian consumers, as the global trend towards plant based diets and ingredients continues.

The proliferation of e-commerce platforms has made it easier for consumers to access a wide range of licorice root products globally. The expansion of online retail channels provides manufacturers with greater reach and access to a larger consumer base, thereby augmenting the market growth.

Destinations known for traditional medicine practices, such as Ayurveda retreats in India or wellness spas in Thailand, are witnessing an influx of tourists seeking holistic healing experiences. Licorice root based treatments and products play a significant role in such wellness tourism offerings.

Download the full report for in-depth insights. https://www.futuremarketinsights.com/reports/licorice-root-market

Key Takeaways from the Market Study

  • Global licorice root market was valued at US$ 703.9 million in 2019.
  • From 2019 to 2023, the market demand expanded at a CAGR of 6.9%.
  • The market in Japan is expected to expand at a CAGR of 6.3% through 2034.
  • By product form, the extracts segment to account for a share of 70.3% in 2024.
  • The market in India is expected to expand at a CAGR of 7.9% through 2034.
  • In terms of end use, the tobacco industry segment to account for a revenue share 70.9%.

“Companies are continuously innovating to develop new and unique product formulations containing licorice root extracts. The development includes combinations with other natural ingredients to enhance efficacy or create novel product offerings, catering to evolving consumer preferences,” says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).

Competitive Landscape

Prominent players in the licorice root market are FC Licorice, Norevo GmbH, Zagros Licorice Co., Naturex SA, Sepidan Osareh Co., VPL Chemicals, MAFCO Worldwide LLC, and Aseh Co., among others.

Company Portfolio

  • Maruzen Pharmaceuticals Co. Ltd., based in Japan, is a key player in the licorice root market, particularly in the pharmaceutical and herbal medicine sectors. The company focuses on producing standardized licorice root extracts for medicinal purposes, adhering to strict quality standards and regulatory requirements.
  • Alfarid Corporation Limited, based in Pakistan, is a major supplier of licorice root extracts to the global market. The company specializes in licorice root cultivation, processing, and export, offering a diverse range of licorice products tailored to customer specifications and industry requirements.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global licorice root market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the licorice root market, the market is segmented on the basis of product form (roots, extracts), and end use (food and beverage industry, tobacco industry, pharmaceutical industry, cosmetic industry, dietary supplements), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube