Feed Enzymes Market Insights: Strategic Growth Opportunities from 2023 to 2033

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The global feed enzymes market size is estimated to grow to USD 1.2 billion in 2023 and is projected to reach USD 1.8 billion by 2033. The market is expected to record a CAGR of 4.4% during the forecast period.

The Feed Enzymes Market is a rapidly growing sector within the global animal feed industry, driven by increasing demand for efficient and sustainable livestock production. Feed enzymes are additives that enhance nutrient absorption, improve digestion, and reduce environmental impact by minimizing waste. They are widely used in poultry, swine, ruminants, aquaculture, and other livestock feeds to optimize feed utilization and performance.

In the Face of Antibiotics Ban, Feed Enzymes Emerge as Lucrative Alternative

Several developed markets have banned the use of antibiotics for livestock. As a result, feed enzymes have emerged as an alternative. Since they pose few side effects when properly used, they aid in digestion and immune boosting. Hence, a significant segment has started preferring immune-boosting feed enzymes over conventional antibiotics.

Possible Side-Effects of Feed Enzymes, Major Hurdle to Market Growth

The vast array of benefits that can be reaped through feed enzymes is limited by physiological factors impeding enzyme action. Moreover, feeding enzymes to livestock over the prescribed limits could have undesirable consequences. The level of the enzyme to be administered to an animal depends on various factors such as age, size, breed, and such. The same can only be determined by an experienced professional such as a veterinarian. Certain enzymes when consumed improperly can cause blood thinness, diarrhea, and vomiting in animals

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

Key Players Keen to Cater to Niche Markets

Since feed enzymes are increasingly being preferred over antibiotics, key players are aiming to boost production efficiency.  Different livestock animals have different feed enzyme requirements depending on their characteristics. Hence, key players need to develop unique product variants to cater to the livestock market. The current forecast period is already witnessing the launch of diverse product lines, by top manufacturers such as DSM and ADM.

Key Takeaways from the Report:

  • In terms of revenue, the Feed enzymes market grew at a CAGR of around 4.8% during 2017 and 2022.
  • During the forecast period, the Chinese market is projected to grow at a CAGR of 4.3% to attain a valuation of US$ 178.4 million by 2033.
  • The Indian industry is projected to expand at a CAGR of 4.3% between 2023 and 2033 to attain a valuation of US$ 80.4 million.
  • The U.S. market is anticipated to grow at a CAGR of 4.5% during the forecast period.
  • The Carbohydrase segment is expected to grow at a CAGR of 3.8% between 2023 to 2033.

Key Market Developments:

  • Danisco Animal Nutrition recently launched the Extra PHY GOLD, a new variant of phytase enzyme.
  • The second generation of ProAct 360, which is a protease enzyme, was released by the DSM in collaboration with Novozymes Feed Enzymes Alliance.
  • ADM is all geared up to launch new R&D labs in the United States. These focus on developing sustainable variants of feed enzymes.
  • CapriEnzymes is an Indian startup that harnesses biotechnology to produce innovative enzyme variants.
  • BRI is a startup primarily focusing on the research and development of sustainable feed enzyme additives.

Key Players:

  • BASF SE
  • DuPont
  • Associated British Foods Plc
  • BEHN MEYER
  • DSM
  • Azelis S.A.
  • Rossari
  • BIO-CAT
  • BEC Feed Solutions
  • Adisseo
  • Bioproton Pty Ltd.
  • Novus International
  • BioResource International, Inc.,
  • Alltech
  • Lesaffre
  • Karyotica Biologicals Pvt Ltd.
  • Aum Enzymes
  • Biovet
  • Chr. Hansen Holding A/S
  • CapriEnzymes
  • Advanced Enzyme Technologies

Feed Enzymes Market Segmentation

By Form:

  • Dry
  • Liquid

By Product:

  • Phytase
  • Carbohydrase
  • Protease

By Source:

  • Microorganisms
  • Plants
  • Animals

By Animal:

  • Poultry
  • Ruminants
  • Swine
  • Aquatic Animals
  • Others (Equine & Pets)

About Future Market Insights (FMI)

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

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Modified Soya Flour Market to Grow at 3.2% CAGR, Projected to Reach USD 85.9 Billion by 2032

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The modified soy flour market is anticipated to reach USD 85,859 million by 2032, expanding at a CAGR of 3.2% from 2022 to 2032. In addition to being utilised in many industrial goods that contain more than 50% protein, soy flour is employed in a wide range of food products.

The increasing utilization of soy-derived flour in processed meals is driving market growth, attributed to its nutritional benefits, including being trans-fat-free, gluten-free, and suitable for whole-grain food products. During the forecast period (2022–2032), rising economies like Russia and Germany are expected to witness significant growth in modified soya flour sales due to heightened consumption.

Additionally, the demand for packaged foods with extended shelf life is rising as consumers with busy lifestyles increasingly prefer convenient options. This trend boosts the bakery and confectionery sector, driven by growing consumer interest in baked products. Manufacturers are responding by diversifying their offerings, further propelling the growth of the Modified Soya Flour Market.

Key Takeaways from Market Study

  • For the period 2022-2032, the Methylcellulose category is expected to grow at the fastest rate of 5percent.
  • expanding use of modified soya flour in a number of food applications, the global modified soya flour market is expected to rise at a high rate in Asia Pacific excluding Japan-APEJ.
  • During the forecast period of 2022-2032, the organic category is predicted to develop at the fastest rate in terms of value, with a CAGR of 6.5 percent.
  • Due to increased consumer demand for baked goods, the Bakery and Confectionery industry is predicted to grow at the fastest rate of 5.2 percent.
  • Market players are experimenting with new ways on increasing production capacity and also doing research and innovation to create products.

“ The Modified Soya Flour Market is being propelled ahead by rising innovations in the food and beverage sector, as well as rising veganism appeal among the general public.”, –says a lead analyst at Future Market Insights.

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

Competitive Landscape

Modified Soya Flour have a strongly competitive global market. The Modified Soya Flour Market is going forward as producers focus on developing a variety of baked items that will enhance customer demand.

Some of the leading companies offering Modified Soya Flour are Cargill Incorporated, The Scoular Company, Associated British Foods Plc., The Hain Celestial Group, Inc., General Mills Inc., Parrish and Heimbecker Ltd., ITC Limited, SunOpta Limited, The Caremoli Group, Ingredion Inc., Unicorn Grain Specialties, ConAgra Foods, Inc., Bunge Limited, Archer Daniels Midland Company, and Buhler.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the Modified Soya Flour presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

Ingredients:

  • Activated Carbon
  • Microcrystalline Cellulose (MCC)
  • Methylcellulose
  • Carboxymethyl cellulose (CMC)
  • Ethylcellulose
  • Phosphorus Chemicals
  • Succinic Acid

Application:

  • Bakery & Confectionery
  • Extruded Snacks
  • Soups
  • Packaged Food
  • Other Application

Sales Channel:

  • Direct Sales
  • Modern Trade
  • Departmental Stores
  • Convenience Stores
  • Online Stores
  • Other Sales Channel

Region:

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific Except Japan-APEJ
  • Middle East and Africa-MEA

The report covers exhaustive analysis on:

  • How much is the Modified Soya Flour Market current worth?
  • At what CAGR is the market expected to grow?
  • How was the performance in the last five years?
  • What are the key trends boosting Modified Soya Flour Market 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 Modified Soya Flour Market?
  • Who are the major players in Modified Soya Flour Market?
  • At what rate will the U.S. Modified Soya Flour 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.

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Hydrolyzed Animal Protein Market Industry Growth and Forecast through 2033

Hydrolyzed Animal Protein Market

The global hydrolyzed animal protein market size is poised for significant growth, projected to reach a valuation of US$ 838.43 million by 2033, from an estimated US$ 463.78 million in 2023. This promising expansion reflects a compound annual growth rate (CAGR) of 6.1% over the forecast period.

Growth Factors Fueling the Market

Hydrolyzed animal protein, produced through the hydrolysis of animal-origin foods, has gained popularity due to its numerous health benefits. As consumer awareness of these benefits increases, so does the demand for hydrolyzed animal protein in diets, particularly within the functional foods and beverages sector.

Several key factors are driving this market growth:

  1. Rising Consumer Awareness and Demand for Functional Foods: Consumers are increasingly seeking nutrient-rich and functional foods, spurred by evolving lifestyles and higher disposable incomes. This trend is particularly pronounced in protein-centric diets, which have significantly boosted the demand for hydrolyzed animal protein in the food and beverage industry.
  2. Expansion in Animal Nutrition and Feed Additives: The animal nutrition and feed additive industries are major contributors to market growth. The increasing number of livestock producers drives the demand for hydrolyzed animal protein, particularly as protein hydrolyzates become more prevalent in sports nutrition and dietary supplements.
  3. Opportunities from the Veganism Trend: Although primarily an animal-derived product, the growing trend towards veganism is expected to create new development opportunities. This trend, combined with the rising demand for plant- and animal-based protein hydrolyzates, supports the market’s expansion.
  4. Innovations in Protein Isolates and Concentrates: The development of various protein isolates and concentrates has led to a broader application of hydrolyzed animal protein in products such as dairy goods, dietary supplements, bakery items, confectionery, and infant formula.

However, the market faces challenges, including high R&D and production costs, and stringent government regulations on the disposal of fish waste. Despite these obstacles, the superior protein content of animal-based sources compared to plant-based counterparts continues to drive market growth.

Historical Market Performance and Future Outlook

Between 2018 and 2022, the hydrolyzed animal protein market grew at a CAGR of 5.1%, rising from US$ 209.92 million to US$ 282.92 million. Looking ahead, the market is expected to maintain its robust growth trajectory, fueled by increasing demand in the pharmaceutical industry, sports nutrition, and dietary supplements.

Regional Insights

  • North America: The region dominates the global market, thanks to a well-established food industry and advanced processing technologies. The growing popularity of protein-centric diets and functional foods is expected to further drive demand.
  • Asia Pacific: High market growth is anticipated, driven by an aging population, increased demand for nutritional supplements among pregnant women, and a rising acceptance of protein components due to fitness centers’ promotional efforts.
  • Europe: The demand for baby formula and weight management products, combined with rising consumer health consciousness, supports market growth. However, high processing costs and competition from plant-based proteins may pose challenges.

Competitive Landscape

Key players in the global hydrolyzed animal protein market include Lactalis Ingredients, Arla Foods Ingredients Group P/S, Fonterra Co-operative Group, Kerry, Inc., Novozymes A/S, Kemin Industries, Inc., BRF S.A., Cargill, Inc., Essentia Protein Solutions, and GELITA.

Recent developments include:

  • Optimum Nutrition launched a new Gold Standard Protein Shake in August 2022.
  • Kerry opened a state-of-the-art facility in Jeddah, Saudi Arabia, in January 2022.
  • Dragon Pharma introduced a whey protein supplement derived from hydrolyzed whey protein in April 2019.
  • Fonterra JV partnered with Tillamook Country Creamery Association and a three-mile canyon farm to release Pro-Optima TM, a functional whey protein concentrate, in June 2022.

Market Segmentation

  • By Type: Dairy Proteins, Meat, Poultry & Beef Proteins, Fish Proteins
  • By Form: Powder, Liquid
  • By Application: Pharmaceuticals and Nutraceuticals, Food, Cosmetics and Personal Care, Feed
  • By Region: North America, Europe, Asia Pacific, Middle East and 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
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Vegan Pizza Crust Market Market Dynamics and Growth Forecast through 2033

Vegan Pizza Crust Market
Vegan Pizza Crust Market

The demand for vegan pizza crust market is experiencing strong growth, driven by a number of factors. The increasing demand for vegan options, health and wellness trend, and convenience are driving the growth of the market. The market is expected to be valued at US$ 989.1 million in 2023 and to reach a valuation of US$ 1866.5 million by 2033. The Sales of vegan pizza crust is estimated to grow at a steady 7.3% CAGR, with the U.K., the U.S., China, and India emerging as key producers.

One of the key drivers of the vegan pizza crust is the increasing demand for vegan options. The number of vegans in the world has been steadily increasing in recent years, and this trend is expected to continue. As more people adopt a vegan lifestyle, the demand for vegan pizza crusts is likely to increase. Companies are innovating and creating new and exciting vegan crust options, such as gluten-free, whole wheat, cauliflower crusts, etc to cater to the changing consumer preferences. Gluten-free, organic and vegan crusts are becoming more popular among consumers, and are expected to drive the vegan pizza crust in the future.

Another driver of the market is the health and wellness trend. Many people are becoming more health-conscious and are looking for options that are lower in fat, calories, and cholesterol. Vegan pizza crusts are typically made from plant-based ingredients, which are often considered to be healthier than traditional pizza crusts made from animal products.

The vegan pizza crust market is relatively diverse with a mix of large established companies and small startups. There is a growing number of startups entering the vegan pizza crust market with innovative and unique vegan crust options. Many of these startups are focusing on niche segments such as gluten-free, organic, and plant-based options to cater to the growing demand for vegan pizza crusts. They are also focusing on sustainable packaging and sourcing of ingredients, which are becoming more important for consumers.

However, the vegan pizza crust market also faces some restraints. One of the main restraints is the lack of awareness among consumers about the availability of vegan pizza crusts. Additionally, the high cost of vegan pizza crusts compared to traditional crusts can also be a restraint for some consumers.

Despite the restraints, the vegan pizza crust is expected to continue to grow in the future as more and more people adopt veganism and become more health-conscious.

Key Takeaways

  • The increasing demand for vegan options, health and wellness trend, and convenience are driving the growth of the market.
  • Companies are innovating and creating new and exciting vegan crust options, such as gluten-free, whole wheat, cauliflower crusts, etc to cater to the changing consumer preferences.
  • Gluten-free, organic and plant-based crusts are becoming more popular among consumers, and are expected to drive the market growth in the future.
  • The market is relatively diverse with a mix of large established companies and small startups, and is expected to see more startups entering the vegan pizza crust market with innovative and unique vegan crust
  • Private label brands are becoming increasingly popular among consumers and are expected to drive the market growth in the future.

Competitive Landscape

The competitive landscape of the vegan pizza crust market is relatively diverse, with a mix of large established companies and small startups. The market is characterized by the presence of several well-established players such as Daiya, Tofurky, Dr. Oetker, Follow Your Heart, Caulipower, and Amy’s Kitchen. These companies have a strong presence in the market and have a wide range of products catering to different dietary needs. They also have a strong distribution network and a good brand reputation in the market.

On the other hand, there are also several small and medium-sized startups that are entering the market with innovative and unique vegan crust options. These startups are focusing on niche segments such as gluten-free, organic, and plant-based options to cater to the growing demand for vegan pizza crusts. They are also focusing on sustainable packaging and sourcing of ingredients, which are becoming more important for consumers.

The startup ecosystem in the vegan pizza crust market is relatively new and is still evolving. There is a growing number of startups entering the market with innovative and unique vegan crust options. Many of these startups are focusing on niche segments such as gluten-free, organic, and plant-based options to cater to the growing demand for vegan crusts. They are also focusing on sustainable packaging and sourcing of ingredients, which are becoming more important for consumers.

Key Segments

Ingredient:

  • Wheat
  • Corn
  • Rice
  • Others

Type:

  • Thin crust
  • Thick crust
  • Stuffed crust

Distribution Channel:

  • Supermarkets and hypermarkets
  • Convenience stores
  • Online channels
  • Others

By Application:

  • Household
  • Food service
  • Commercial

Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific (APAC)
  • 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
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Website: https://www.futuremarketinsights.com
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Cold Cuts Market Industry Trends and Growth Outlook through 2033

Cold Cuts Market
Cold Cuts Market

The global demand for cold cuts market is set to witness extraordinary growth over the next decade, with its valuation projected to skyrocket from USD 483.71 billion in 2023 to USD 1,073.66 billion by 2033. This significant expansion is driven by a steady 8.3% CAGR, fueled by expanding urban populations, rising demand for on-the-go foods, and increasing consumer awareness of various cold cuts due to travel and exposure.

The cold cuts market is experiencing a surge in demand, driven by several key factors:

Fresh Cold Cuts Replace Frozen Varieties

In recent years, there has been a notable shift in consumer preferences from frozen to fresh cold cuts. The adoption of fresh cold cuts has become significant in developed cities, where consumers now prioritize better taste and nutritional value. Specialty markets and meat shops were initially the main sources for fresh cold cuts, but now conventional grocers are joining the trend with dedicated charcuterie counters.

Focus on Quality and Ingredients

Consumers are increasingly willing to pay a premium for high-quality ingredients. With growing health awareness, the demand for cold cuts made from natural and healthy cuts, such as hormone-free and antibiotic-free meats, has risen. Manufacturers focusing on providing quality have benefited from consumers’ access to readily available information. Producers are pushing the envelope with flavorful ingredients such as imported spices, quality cheese, and smoky or spicy offerings.

Spotlight on Labels

Consumers are avid label readers, particularly when it comes to meat products. They are interested in not only how the products are made but also how the animals are raised. This has led to an increase in clean labeling and the use of nutritious ingredients. Products and brands that focus on transparency claims, such as those made with no artificial ingredients, sustainable sourcing, and quality ingredients, are growing in popularity. Products made from heritage breeds, which are humanely raised and bred for consistent taste and flavor, are also receiving significant attention.

Health-based and Palate-driven Innovation

Health-conscious consumers continue to drive innovation in the cold cuts market. Brands like Prasuma are giving consumers access to their favorite cold cuts while focusing on socially responsible, charitable, and authentic brands. Categories are making strides to appeal to health-conscious consumers by offering products with fewer ingredients and healthier attributes.

Future Outlook

Short-term Outlook (2023 to 2026)

Companies in the cold cuts market are increasingly focused on sustainability, from sourcing high-quality ingredients from sustainable sources to reducing packaging waste. This focus on sustainability is becoming a key consideration for consumers and companies alike.

Mid-term Outlook (2026 to 2029)

Health and wellness labeling, such as ‘gluten-free’ or ‘low-sodium,’ is becoming more prevalent as companies respond to health-conscious consumers. This trend is expected to continue growing, with companies offering cold cuts that meet specific dietary needs.

Long-term Outlook (2029 to 2033)

Consumers are increasingly seeking food products customized to their individual needs and preferences. Companies are responding by offering personalized cold cuts, such as sampler packs that allow consumers to try a variety of flavors and varieties.

Market Drivers

Health and Wellness Trend

Cold cuts are perceived as healthier than traditional processed meat products, driving demand among health-conscious consumers. These products are often made from high-quality ingredients and are lower in sodium, fat, and other unhealthy additives.

Urbanization

The spread of urban residents with higher disposable incomes is leading to increased demand for high-quality food products, including cold cuts. Urbanization is a significant factor contributing to the market’s growth.

Innovations in Product Development

Companies are investing in research and development to develop new and improved cold cuts products that appeal to changing consumer preferences. This has led to the development of organic and specialty cold cuts, driving market growth.

Competitive Landscape

Leading companies in the cold cuts market include Tyson Foods, Smithfield Foods, JBS USA, and Hormel Foods. These companies are known for their high-quality products and continue to innovate to meet changing consumer preferences.

Regional Insights

United States

The U.S. is a key market for cold cuts, driven by busy consumers looking for convenient, high-quality food options. The growing population and rising disposable incomes are also contributing to market growth.

United Kingdom

The U.K. has a strong tradition of high-quality food production and a well-established cold cuts market. The country’s focus on research and development supports continued innovation and growth.

China

China’s large population and rapidly growing middle class with increasing purchasing power make it an attractive market for cold cuts. Urbanization is also driving growth, with more consumers seeking convenient, high-quality food products.

India

India’s growing middle class and increasing awareness of the convenience and health benefits of cold cuts are expected to drive market growth. However, companies must navigate stringent food safety and labeling regulations and strong competition.

About Future Market Insights (FMI)

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

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Catering Services Market Market Expansion and Growth Trends through 2033

Catering Services
Catering Services

As per the market survey report, the catering services business worldwide generated a revenue of around US$ 565 million in the year 2018. Though the market followed a steeply rising curve in the following years, the average CAGR until 2022 has been brought down to 1.2%. This tragic downfall in demand for catering services was a consequence of the pandemic rendering the market value at US$ 592.5 million by end of 2022.

Currently, the net worth of total catering services adopted around the world together is estimated to be around US$ 618.5 million for the year 2023. The catering services sector is projected to expand at an annual rate of 4.4% during the years 2023 to 2033. The FMI global catering services market analysis report further predicts it reaching a value of almost US$ 951.5 million by 2033.

There is a growing concern for safe food handling practices worldwide and a need for outsourcing food preparation services to a reputed supplier. Moreover, the FDA’s strict guidelines for monitoring and controlling the standards of the food being served are perfecting catering services globally.

Recently, the United States FDA established more and stricter rules and guidelines for regulating the quality and standards of food served by catering service providers. As a result, many existing market players in the country have reoriented their business strategies to remain competitive in the market.

Key Takeaways

  • The United States is the leading region for the adoption of all catering services and the regional market is expected to be worth around US$ 152 million in 2023.
  • China is anticipated to record an impressive 7.1% CAGR over the forecast years owing to its huge population and evolving culture.
  • Germany is the leading region in Europe for higher adoption of catering services throughout the Europe region. As per the market report, this regional market is anticipated to exhibit a growth rate of 3.2% during the years 2023 to 2033
  • The demand for catering services in Canada is projected to grow at a rate of 3.5% over the forecast years making it a lucrative market for players in the region as well as the United States.
  • Standalone food catering services control a dominant share of the market in comparison to chain catering services companies.
  • The corporate contract food catering service segment contributes the lion’s share of the total revenue generated by the global market.

Competitive Landscape

Aramark Corp., Compass Group PLC, Bartlett Mitchell Ltd., CH and Co Catering Group Ltd., Delaware North Companies Inc., Newrest Group Services SAS, Deutsche Lufthansa AG, Dine Contract Catering Ltd., Gategroup, DO & CO Aktiengesellschaft, DoorDash Inc., Elior Group SA, The Emirates Group, Sodexo Group PVT Ltd, Cushman & Wakefield, WSH Group Ltd., Newrest Group Services SAS, and ABM Catering Solution, ISS A/S, Jones Lang LaSalle IP, Inc., AVI Foodsystems, Inc, Thompson Hospitality, Albron B.V., Hutten Catering BV among others are prominent players operating in the global catering services market.

To boost profits and strengthen their market positions, many companies in the catering services market have selected new product launches and takeover of regional service providers as their primary development methods.

Some leading global market participants have recognized substantial growth potential in Asia Pacific countries and are extending service points in this region. Due to large investments for attracting foreign corporates and tourism, nations like India, Qatar, and Saudi Arabia present attractive development potential for the catering service sector.

Key Segments

By Service Type:

  • Contractual Catering Service
  • Non-contractual Catering Service
  • Other Catering Services

By Application:

  • Wedding Catering Services
  • Corporate Catering Services
  • Social Events Catering Services
  • Other Events Catering Services

By End User:

  • Catering Services for Industrial Sector
  • Catering Services for Hospitality Sector
  • Catering Services for Educational Sector
  • Catering Services for Healthcare Sector
  • Catering Services for In-Flight Sector
  • Catering Services for Other End Users

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and the Pacific
  • The Middle East and Africa (MEA)

About Future Market Insights (FMI)

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

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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Industrial Margarine Market Key Drivers and Growth Insights through 2033

Industrial Margarine Market
Industrial Margarine Market

The global industrial margarine market is expected to record a CAGR of 5.1% between 2023 and 2033. In 2023, the market valuation is expected to be at US$ 2.69 billion. By 2033, the figures are expected to surge beyond US$ 4.42 billion.

The world has been witnessing an increase in lactose intolerance cases. The experts believe that nearly 68% of people suffer from lactose intolerance in some way or the other. This presents a huge opportunity in front of the market, as these are not made of milk, and are a rich source of Vitamin D and Vitamin A as well.

There has been an increasing clamor against the consumption of GMO-based food products. Lots of people who have consumed GMO-based products have reported incidents like illness and unease. Apart from that, as these are not naturally processed, the nutritional value is much lower as compared to their organic counterparts. Industrial margarine is a non-GMO-based product. Such factors are expected to surge the demand for industrial margarine during the forecast period.

The Middle East nations are extremely particular when it comes to halal certifications. The industrial margarine and its products are halal certified, which has skyrocketed consumer confidence.

The growing bakery market represents a world of opportunities in front of the industrial margarine sector. The global bakery products market is expected to cross a valuation of US$ 600 billion by 2030. Margarine is used in bakery products, as these act as an emulsifier and also assist in the spreading process.

There is also increased consumption of plant-based food products owing to surging vegans and a surging health consciousness. Industrial margarine does not contain animal fats, and this is expected to massively surge the adoption rate.

Thus, from the insights provided by FMI researchers, it can be inferred that ‘surging cases of lactose intolerance, rising consumption of non-GMO food, mandatory halal certification, and a lot of other factors are expected to surge the industrial margarine market share during the forecast period.’

Key Takeaways:

  • The market is expected to record a CAGR of 5.1% during the forecast period.
  • In 2023, the market size is estimated to be US$ 2.69 billion.
  • By 2033, the figure is expected to surge beyond US$ 4.42 billion.
  • Based on regional analysis, North America is expected to hold the dominant market share. On the basis of CAGR, Asia Pacific is expected to hold the leading position.
  • On the basis of type, the spreadable segment is expected to hold the leading market share during the forecast period.
  • Based on application, the bakery segment is expected to hold the leading market share during the forecast period.

Competitive Landscape

The key players operating in the market are focusing on looking for leaders, who have been a part of the market for decades. Through their expertise, the manufacturers might expand their capabilities. The idea is also to develop strategies to get into meaningful mergers and acquisitions. This is done to expand the market share, and serve new regions. The manufacturers are also developing strategic partnerships with players from other niches to assess their technology. This may also help in knowledge sharing. With a focus all set on sustainable development, the key players are setting strategies that are in tandem with the United Nations’ sustainability goals. Thus, there is an increasing deployment of green practices, like working intensely to reduce carbon emissions.

Key developments in the market:

  • In December 2022, Bunge decided to invest in a new protein concrete facility in the United States.
  • In August 2022, Conagra Brands promoted Tracy Schaefer to Chief Information Officer.

Other companies profiled: Associated British Foods, Fuji Oil, Richardson International, Royale Lacroix, Aigremont, Vandemoortele, NMGK Group, EFCO Group, and Wilmar International.

Industrial Margarine Market Segmentation

By Type:

  • All Purpose
  • Spreadable
  • Butter Blend

By Form:

  • Hard
  • Soft

By Source:

  • Plant
  • Animal

By Application:

  • Bakery
  • Spreads
  • Sauced and Toppings
  • Confectionary
  • Convenience Foods
  • Other Applications

By Region:

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

About Future Market Insights (FMI)

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

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Global Pre-book Airport Transfer Market Set for Rapid Growth Driven by Rising Travel Demand and Technological Advancements

The global pre-book airport transfer market is poised for extraordinary growth, with a projected compound annual growth rate (CAGR) of 19.3% from 2024 to 2034. Starting at USD 11,244.2 million in 2024, the market is forecast to skyrocket to USD 65,664.6 million by 2034, driven by a resurgence in global travel, advances in technology, and shifting consumer preferences.

After a sharp decline of 75% in travel activity in 2020 due to the pandemic, the travel industry is now bouncing back. International tourist arrivals nearly reached 90% of pre-pandemic levels in 2023, fueling an increase in demand for convenient, safe, and cost-effective airport transfers. With the growth of low-cost carriers, improved airport infrastructure, and an influx of tourists, more travelers are opting for pre-booked airport transfer services over traditional modes of transport.

Key Growth Drivers

  • Increasing Travel Demand: The travel industry is experiencing an accelerated recovery, with millions of international tourists seeking reliable, affordable, and convenient transportation options. This trend is expected to continue as travel demand surges globally.
  • Technology and Innovation: The widespread use of smartphones and mobile apps has made booking airport transfers easier than ever before. Real-time updates, automated booking systems, and AI-powered chatbots are transforming the way people book and experience airport transportation.
  • Consumer Preferences for Comfort and Convenience: More travelers, particularly millennials and Gen Z, are prioritizing convenience and reliability in their travel experiences. The preference for private cars, shuttles, and ride-sharing services over traditional taxis is contributing to the popularity of pre-booked airport transfers.
  • Affordability and Transparency: Pre-booked airport transfer services offer a cost-effective alternative to taxis and ride-sharing services, with transparent pricing and no hidden fees. Travelers appreciate the certainty and convenience that comes with knowing the price upfront and the flexibility of choosing from a variety of vehicle options.
  • Customization and Personalization: The ability to customize airport transfer services is increasingly important to travelers. From luxury vehicles to special amenities like Wi-Fi and refreshments, pre-booked airport transfers offer a tailored travel experience that meets the diverse needs of today’s global travelers.

Regional Insights

  • United States: The U.S. pre-book airport transfer market is expected to grow steadily, driven by increasing demand from both leisure and business travelers.
  • India: India is projected to see strong growth, fueled by urbanization, rising incomes, and a booming tourism sector.
  • China: China’s pre-book airport transfer market will experience robust growth, supported by expanding travel demand and improved infrastructure.
  • Australia: Australia’s market is set for exceptional growth, driven by its popularity as a global travel destination and increasing tourism activities.

Key Market Trends

  • Millennial and Gen Z Adoption: Younger generations, particularly Millennials and Gen Z, are reshaping the travel landscape. These tech-savvy, experience-driven travelers prefer the convenience, privacy, and flexibility of pre-booked airport transfers, contributing to their rapid market adoption.
  • AI-Powered Services: Technology is revolutionizing the industry, with AI and automation enhancing the customer experience. AI-powered systems streamline booking, tracking, and communication, allowing passengers to enjoy a seamless travel experience from start to finish.
  • Sustainability and Eco-Friendly Initiatives: With growing concerns about the environment, eco-friendly transportation options, such as electric and hybrid vehicles, are gaining traction in the pre-booked airport transfer market. Companies are investing in green solutions to cater to the rising demand for sustainable travel options.
  • Luxury Market Expansion: High-net-worth individuals are increasingly seeking premium, customized airport transfer services. Luxury vehicles, VIP treatment, and personalized services are expected to drive significant revenue growth in this segment.

Competitive Landscape

The business opportunity analysis for pre-booked airport transfer services reveals that companies are competing primarily on the quality and diversity of services offered. Providers are responding to the growing demand for affordable yet comfortable options by delivering tailored, accessible services that cater to individual preferences.

To stay ahead, key players are incorporating cutting-edge technologies and developing innovative products and services that align with evolving consumer behaviors. The integration of advanced technologies has become a critical competitive factor, with companies leveraging these tools to enhance their offerings. Strategic partnerships with travel agencies, airlines, hotels, mobility platforms, and digital payment providers are also a key strategy for expanding market reach.

Travel agencies play a crucial role in promoting pre-booked airport transfers, driving awareness and facilitating bookings. Additionally, many new entrants focusing on luxury travel are enhancing the premium experience by incorporating advanced features into their services, striving to replicate the luxury travel experience in their vehicle offerings.

Industry Updates

  • Air Canada launched a pilot project in February 2024 in the Hamilton and Waterloo Region. This initiative is going to enable travelers to check in at local airports before being transported to Toronto Pearson Airport in the “luxury” comfort of a bus.
  • In March 2023, Uber unveiled a series of new features designed to streamline airport travel for both riders and drivers in anticipation of the bustling summer travel period in India. These features include the ability to ‘reserve’ rides up to 90 days in advance. The ridesharing giant has been focused on enhancing the airport transit process, having already established dedicated pick-up and parking areas at all important airports nationwide.
  • In February 2023, Transferz, a Dutch startup dedicated to providing travelers and travel brands with sustainable and dependable transport solutions, successfully secured USD 7 million. The company is now gearing up to launch its international expansion initiatives.

Leading Brands

  • SuperShuttle International Company
  • Lyft, Inc.
  • Uber Technologies, Inc.
  • Keys Shuttle
  • AAA Conch Limo. LLC
  • A&M Rentals
  • Avis Company
  • The Hertz Corporation
  • Greyhound Lines, Inc.
  • Alamo Enterprise
  • Avis Budget Group
  • Charter Vans, Inc.
  • Dayton Express Cab Co.
  • Orlando Black Car Inc.
  • Apollo’s Chariots Inc.

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Key Segments of Market Report

By Traveler Type:

Based on traveler type, the industry is bifurcated into independent traveler and group traveler.

By Transportation Type:

In terms of transportation type, the industry is divided into private transportation and public transportation. The private transportation segment is further categorized into taxis and shuttles, car rentals, ride shares, and others. The public transportation segment is further divided into inter-city shuttles, inter-terminal shuttles and others.

By Age Group:

Depending on age group, the industry is categorized into 23-25 years, 26-45 years, 45-60 years, and more than 60 years.

By Purpose/Tourist Type:

Based on purpose/tourist type, the industry is branched into business, leisure, visit friends/relatives, education, conventions, religious, and health treatment.

By Booking Channel:

In terms of booking type, the industry is trifurcated into phone booking, online booking, and in-person booking.

By Region:

Pre-book airport transfer services market regional analysis is conducted across North America, Latin America, Europe, Asia Pacific, and the 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.

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New Zealand Sports Tourism Market Set to Experience Significant Growth, Expected to Reach USD 42,529.2 Million by 2034

The New Zealand sports tourism market is poised for remarkable growth in the coming decade. According to the latest market research, the New Zealand sports tourism market is estimated to reach USD 18,825.3 million in the year 2024 to USD 42,529.2 million by 2034, reflecting a robust compound annual growth rate (CAGR) of 8.5%. This increase is expected to be driven by major international sporting events, the country’s distinctive adventure sports culture, and growing demand for recreational travel.

The growth of New Zealand’s sports tourism industry is set to contribute significantly to the nation’s economy, supporting the tourism supply chain and increasing the GDP. New Zealand’s distinct offering of adventure and niche sports, coupled with its rich cultural experiences, makes it a top destination for both active participants and spectators of international sporting events.

Growth Drivers

  • High-Profile International Events: New Zealand’s reputation as a premier destination for world-class events, such as the Rugby World Cup, America’s Cup, and cricket tours, continues to attract a global audience. These major sporting events drive both international and domestic tourism to the country, helping to boost market growth.
  • Adventure Sports Culture: New Zealand is globally renowned for its adventure sports, including bungee jumping, skiing, and hiking. These activities, combined with the country’s stunning natural landscapes, continue to draw tourists seeking thrilling and unique experiences.
  • Government Support and Infrastructure Development: New Zealand’s government has been proactive in promoting sports tourism, investing in event infrastructure, and supporting the development of regional sporting hubs. These efforts are expected to bolster the nation’s position as a top sports tourism destination.
  • Rising Demand for Recreational Travel: With increasing numbers of tourists seeking recreational travel experiences, the New Zealand sports tourism market is benefiting from the growing popularity of sports and outdoor activities among a wide range of demographics, particularly millennials and families.
  • Technological Advancements in Booking: The growth of digital platforms has made booking sports tourism experiences easier, and online ticketing and accommodation platforms are expected to dominate the market by 2034, representing 45.1% of total bookings.

Key Market Trends

  • Active Sports Tourism: Football/soccer is expected to continue to lead sports tourism in New Zealand, with a 29.8% share in 2024. The rising popularity of football among both participants and fans continues to boost visitation.
  • Online Booking Platforms: The convenience and security of online booking platforms are transforming the way tourists plan and book their trips. By 2034, online booking is forecasted to account for over 45% of the market share, driving efficiency and increasing customer satisfaction.
  • Age Demographics: The largest segment of sports tourists is expected to be aged 26-35 years, who are highly engaged in both recreational and spectator sports.

Competitive Landscape

New Zealand’s sports tourism market is highly competitive, capitalizing on the country’s reputation for its stunning landscapes, outdoor lifestyle, and role as a host for major international sporting events.

The market is driven by a collaboration between the government, local tourism bodies, and private operators, all focused on promoting sports tourism through strategic marketing, event hosting, and infrastructure development. Key attractions include adventure sports such as rugby, cricket, cycling, and skiing, with New Zealand established as a top destination for high-profile events like the Rugby World Cup and the America’s Cup.

For instance

  • In 2023, Exodus Travels announced a new lineup of itineraries in partnership with the Royal Canadian Geographical Society (RCGS): Exodus RCGS Quests. This series of journeys will provide travelers with life-changing opportunities to return to travel after the pandemic with exhilaration and excitement, guaranteeing the adventures of a lifetime.
  • In 2023, the Rayburn Tours company launched Rayburn Machine, a product line that will help to create a perfect tour. This includes tour consultants and tour coordinators that understand the objective of the tour, offer advice and suggestions, and help to create a perfect tailor-made tour for the group. The dedicated tour coordinator is specialized in the chosen destination, helps to create a perfect itinerary, takes care of all the booking related to accommodation and all excursions and provides all the documentation needed in one handy little travel app.

Key Companies Profiled

Exodus Travels

G Adventures

World Expeditions

Explore

Indus Travels

Topdeck

Intrepid Travel

Real New Zealand Tours Limited

Trafalgar

Active Adventures

HAKA SPORTS TOURS

Sportsnet Holidays

Williment

All Blacks Tours

Dragonfish

Estilo Sports Travel

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New Zealand Sports Tourism Market by Category

By Sports Type:

  • Football/ Soccer
  • Cricket
  • Motorsport
  • Basketball
  • Others

By Season:

  • Sport Event Tourism
  • Nostalgia Sports Tourism
  • Active Sports Tourism
  • Passive Sports Tourism

By Booking Channel:

  • Phone Booking
  • Online Booking
  • In Person Booking

By Tourist Type:

  • Domestic
  • International

By Tour Type:

  • Independent Traveler
  • Package Traveler
  • Tour Group

By Consumer Orientation:

  • Men
  • Women
  • Children

By Age Group:

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

About Future Market Insights (FMI)

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

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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
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Global Dog Safety Leash Market Poised for Significant Growth, Projected to Reach USD 9.1 Billion by 2033, Driven by Rising Pet Adoption and Technological Innovations

The global dog safety leash market is on track for remarkable growth, with an expected market value of USD 5.28 billion in 2023 and a projected compound annual growth rate (CAGR) of 5.6% through 2033, reaching an estimated USD 9.1 billion by the end of the decade, according to the latest report from Future Market Insights.

The growing pet population worldwide is one of the primary drivers of this market’s expansion. More than 4 million dogs are currently owned by households around the globe, with the United States leading the pack with 69.9 million pet dogs, as reported by Pet Secure. As pet ownership continues to rise, the demand for products that ensure the safety and well-being of dogs, including dog safety leashes, has surged.

Key Factors Fueling Market Growth

  • Rising Pet Ownership
    The pet industry is experiencing rapid growth, with an anticipated 17% CAGR in the global market over the next decade. As more people adopt dogs as companions, particularly in regions like North America and Asia Pacific, the need for dog safety products, including leashes, is increasing.
  • Safety Concerns and Consumer Demand
    Pet owners are becoming more conscious of their dogs’ safety, both for the dogs themselves and for those around them. There is a growing demand for products that provide a sense of security when taking dogs to public spaces. Dog safety leashes address these concerns by ensuring that dogs are securely restrained and protected.
  • Technological Innovations
    Innovations in safety leash designs are further propelling market growth. Features such as glow-in-the-dark leashes that improve visibility at night, and smart leashes equipped with pest-repellent technology, are gaining popularity among pet owners. These advancements not only enhance the functionality of safety leashes but also increase consumer interest, leading to higher sales.
  • Regional Growth
    North America continues to dominate the global dog safety leash market, driven by high pet adoption rates and technological advancements in leash designs. The region is also seeing significant demand for smart leashes, which offer a range of benefits such as increased safety and ease of use. Meanwhile, Asia Pacific, particularly India, is witnessing rapid growth in the dog safety leash market, driven by rising public awareness of animal welfare and a growing number of pet dogs.

Regional Insights

  • North America: The region holds the largest share of the global market due to a high rate of pet adoption and ongoing technological advancements in leash products. The prevalence of smart leashes in North America is particularly notable, as pet owners seek more innovative solutions for ensuring the safety of their dogs.
  • Asia Pacific: The Asia Pacific market is expected to grow at an accelerated pace, driven by increasing awareness of animal welfare and the growing number of pet dogs in countries such as India, where the number of pet dogs is expected to exceed 31 million by 2023. Rising demand for dog safety products is contributing to the region’s rapid market expansion.

Key Players

  • Kurgo
  • Pet Safe
  • Co-Leash
  • Mendota
  • Costal Pet Products Inc.
  • RuffWear Inc
  • Bingin Dong and others.

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Global Dog Safety Leash Market – Segmentation

Based on product type:

  • Standard Leash
  • Retractable Leash
  • Adjustable Leash
  • Chain Leash
  • Split Leash
  • Others (Hands-free leash, martingale leash, etc.)

By material type:

  • Nylon
  • Leather
  • Hemp
  • Others (Cotton, rubber, etc.)

Based on distribution channel:

  • Online
  • Company-owned Portals
  • E-commerce Sites
  • Offline
  • Supermarkets & Hypermarkets
  • Other Retail-based Outlets

Region

  • North America (USA, Canada)
  • Latin America (Mexico, Brazil)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Poland, Russia)
  • East Asia (China, Japan, South Korea)
  • South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
  • Oceania (Australia, New Zealand)
  • Middle East & Africa (GCC Countries, Turkey, Northern Africa, South 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:

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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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