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The market for organic follow up formula is projected to grow at a CAGR of 11.2% between 2022 and 2032, reaching US$ 197.5 billion in sales by 2032, up from US$ 68.3 billion in 2022.

The standard also states that the products are not the breast-milk substitutes and shall not be presented as such. Organic follow up formula are the formulas for infants from age six to 12 or 24 months. These organic follow up formula is fortified with prebiotics and long-chain polyunsaturated fatty acids.

Since, the iron store of the infants depletes after the six months from birth, to make up the higher dietary intake organic follow up formula contains higher levels of iron and vitamin D. The increasing inclination of the mothers to buy consumer products intended for infants and kids is propelling the sales of organic follow up formula.

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Increased Awareness about the Benefits of the Organic Follow Up Formula is Expected to Surge the Demand for the Product in the Global Market 

The global organic follow up formula market is driven by the changing perception of the consumers and increasing spending on infant products and goods. More and more consumers are getting aware of the importance of the products, including organic follow up formula in the physical and mental development of the infants.

The required nutritional components that are not supplied through the generally given diet, are sufficiently supplied by organic follow up formula. Moreover, the organic follow up formula in the market is fortified with ingredients such as DHA, omega-3, omega-6, iron, and vitamin D and has improved digestibility and immune boosting characteristics.

Manufacturers of organic follow up formula are investing in the research and development activities to launch new products regularly with improved characteristics. The new products with enhanced and improved characteristics are likely to tract the consumers are increasing the sales of the organic follow up formula in the global market.

Organic follow up formula has promising future in African countries, since the undernourished and malnourished percentage of children is the highest in the region. The governments of African countries are taking action to improve the situation by launching more and more fortified food products in the market. This is likely to create more opportunity for the manufacturers of the organic follow up formula in the global market.

Organic Follow Up Formula Market: Regional Analysis 

The market for organic follow up formula is robust in North American and European region and occupies a major share in the global organic follow up formula. The major share is supported by the higher consumer household spending, improvements in the business investment, and large share in the world GDP.

However, the opportunity in the global organic follow up formula is a promising in the Asia Pacifica and Middle Eastern and African region. The birth rate is the highest in the African countries, followed by Asian countries, which is expected to impact highly on the consumption of baby products.

Also, increasing middle-class population, increasing middle-class income, and increasing consumer disposable income are likely to affect positively on the global organic follow up formula market.

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Organic Follow Up Formula Market: Key Participants 

Some of the market participants in the organic follow up formula market are:

• Bellamy’s Organic

• Danone S.A.
• Morinaga Milk Industry Co., Ltd.
• Nutrimed Healthcare Pvt. Ltd.
• Nestlé S.A.
• Abbott Laboratories

• Wockhardt Nutrition

The research report presents a comprehensive assessment of the Organic Follow Up Formula market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as form, grade, and end use.

The report covers exhaustive analysis on 

• Organic Follow Up Formula Market Segments

• Organic Follow Up Formula Market Dynamics
• Organic Follow Up Formula Market Size
• Organic Follow Up Formula Supply and Demand
• Current Trends/Issues/Challenges pertaining to Organic Follow Up Formula Market
• Competition Landscape and Emerging Market Participants in Organic Follow Up Formula Market

• Technology related to Production/Processing of Organic Follow Up Formula
• Value Chain Analysis of the Organic Follow Up Formula Market

Regional analysis includes 

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)

• Europe (Germany, U.K., 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)

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Organic Follow Up Formula Market Segmentation 

The organic follow up formula market can be segmented on the basis of nature, product type, end use, and distribution channel.

On the basis of form, the organic follow up formula market can be segmented as: 

• Liquid
• Dry

On the basis of distribution channel, the organic follow up formula market can be segmented as: 

• Hypermarket/Supermarket
• Specialty Stores
• Online Retail
• Other Retail Format

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

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The global aluminum-free natural food color market is forecasted to be appraised at US$ 4.08 billion by 2032, up from US$ 2.17 billion in 2022, advancing at a CAGR of 6.88% during the forecast period.

Dyes, pigments, and substances which impart color to food and beverages are known as coloring additive or food colors. Available as liquid, gels, and powder food coloring is used in both commercial and domestic production of eatables and beverages.

Consumers continue to associate the taste of food products with its color which is a vital factor F&B companies are increasingly using food coloring to make their products more presentable and marketable. Aluminum lakes are being increasingly used in the production of food coloring owing to their dispersible nature enabling them to mix with oil, fat, propylene glycol, and glycerin and water. However, concerns regarding the adverse impact of aluminum consumption on human health are creating a demand for natural food colors.

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Aluminum-free Natural Food Color Market Dynamics

Health Concerns Surrounding Prolonged Aluminum Consumption to Uphold Market Growth

Although aluminum has been approved for use in food coloring, it is widely identified as a neurotoxin proven to impact over 200 biological functions of the body. The metal accumulates in the human system over periods of time and can have adverse consequences on human health. Numerous studies suggest that prolonged accumulation of aluminum in the body can potentially cause neurodegenerative diseases such as dementia, Alzheimer’s disease, Parkinson’s, and amyotrophic lateral sclerosis (ALS).

In addition, aluminum competes with other minerals for absorption into the bloodstream. This can significantly deter calcium absorption in bones and impact skeletal mineralization. Further, studies have linked the accumulation of metal in the body to the development of autism and slowdown of growth in kids. Growing awareness about the adverse impact of aluminum on human health is prompting food and beverage companies to seek alternatives to food color containing aluminum.

A recent development complementing the trend was the release of a survey conducted Federal Institute of Risk Assessment, Germany which revealed that approximately half of the German population avoids the use of aluminum-based products. The factor is estimated to play a vital role in aluminum-free natural food color market growth during the forecast period.

Coupled with the growing awareness about the adverse impact of aluminum on human health, the trends are expected to drive food processing companies to replace artificial and synthetic coloring with their natural alternatives.

Additionally, the burgeoning demand for naturally sourced ingredients for food products and the widespread consumer perception associating natural with healthy is driving manufacturers to increasingly replace aluminum-based food coloring in their products.

The factor is expected to contribute significantly to the aluminum-free natural food color market growth with consumers increasingly preferring brands which provide detailed insights into their supply chain management.

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Innovations in Natural Food Color Development to Drive Adoption

Aluminum lakes find widespread usage in the production of blue pigment for food coloring. Intensifying research and development towards finding natural sources for blue color is likely to accelerate adoption of aluminum-free natural food color.

For instance, recent research in the area is studying the potential of deriving blue color from fungal, animal, and microbial sources. In addition, the aluminum-free natural food colors are also finding widespread adoption in the food and beverages industry owing to the nutritional benefits offered by them which are central to marketing campaigns of companies vying to capitalize on the burgeoning demand for natural products. Technical breakthroughs in the production of natural food colors are further expected to underpin aluminum-free natural food color market growth.

For instance, Phytolon, an emerging company in the food color market, obtained the license for using plant-based genes known as betalains for the production of a variety of natural colors. The company revealed that they will be leveraging a novel technique employing the use of yeast for the commercial production of natural food color. Burgeoning investments in natural food color production and accelerated sophistication of production processes is estimated to fuel aluminum-free natural food color market growth.

Inefficient Functionality and Lower Shelf-life of Natural Colors to Dent Sales

Natural food colorings are unstable and exhibit low heat resistance. In addition, the coloring can fade easily and undergo a change in properties when subjected to light and different pH levels. Being derived from natural sources, natural food coloring can cause allergic reactions.

Furthermore, the overall cost of production of natural food colors is substantially higher than its synthetic counterparts. The requirement of a vast amount of raw materials in plants, fruits, and other natural sources makes the production of natural colors both expensive and non-sustainable.

These factors are restraining the widespread adoption of natural colors in commercial food processing and continue to pose a daunting challenge to manufacturers operating in the aluminum-free natural food color market.

Aluminum-free natural food color market – Notable Highlights

• Naturex, a key player in the aluminum-free natural food color market, launched a new line of natural food colors named “Vegebite Ultimate Spirulina”. The product line features blue and green colors sourced from spirulina for confectionary and beverages with the colors being available in liquid and powder form.
• Increasing collaborations in the aluminum-free natural food color market received a huge boost when Exberry and GNT group launched the Sunshine Shades range of natural food coloring. Under the product line, the company will be launching natural colors ranging from bright yellow to dark orange which can potentially replace yellow food coloring manufactured using aluminum lakes.
• The trend for significantly reducing the use of aluminum lakes in food color manufacturing saw another key development when Roha announced the launch of its Natracol Vibra Yellow color for use in the food products such as gummies, candies, and dairy products.

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Aluminum-free Natural Food Color Market Segmentation

On the basis of type, the aluminum-free natural food color market can be segmented into:

• Beta Carotene
• Astaxanthin
• Annatto
• Curcumin
• Spirulina
• Carmine

Based on the end-use application, the aluminum-free natural food color market can be segmented into:

• Processed/Frozen food products
• Beverages
• Dairy Products
• Bakery and Confectionary Products
• Others

Frequently Asked Questions

• What is the Growth Outlook for the Aluminum-free Natural Food Color Market?
• What is the major driver contributing to the Aluminum-free Natural Food Color market share of the European and North American countries?
• Who are a few key players in the Aluminum0free Natural Food Color Market?

About FMI

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

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[Report of 250 Pages] The global varicose vein treatment market was worth US$ 671.5 million in 2021 and is expected to be worth US$ 716.5 million by the end of 2022. Furthermore, with the increasing prevalence of varicose veins and increased awareness about the various treatments available, the overall demand for varicose vein treatments is expected to grow at a CAGR of 6.8% between 2022 and 2032, totaling a market valuation of US$ 1.4 Bn by 2032.

Unattended varicose veins can cause one severe pain through swelling, ulceration, venous eczema, and lipodermatosclerosis. Treating them through appropriate measures becomes quite crucial. One may opt for non-surgical remedies such as sclerotherapy, leg elevation, or alternative invasive techniques such as endovenous laser treatments. Collectively, these therapies can be addressed as varicose vein treatments, medically-practiced in all parts of the world. The demand for such varicose vein treatments is expected to grow in the years to come.

The global multistrain probiotics market is forecasted to be valuated at US$ 156.25 billion by 2032, up from US$ 66 billion in 2022, advancing at a CAGR of 9% from 2022 to 2032. A burgeoning number of consumers are amassing healthy eating habits, and thereby, health-conscious consumers are more inclined towards nutritional and functional food products.

With the growing preference for nutrient-rich food products, probiotics have gained immense popularity among health-conscious consumers around the world. While probiotics are available in both monostrain and multistrain probiotic forms, the tendency to work with multistrain probiotics has always remained high.

As multistrain probiotics imply a broader spectrum of efficacy and synergistic effects, the market for multistrain probiotics is likely to maintain its momentum in the upcoming years. In addition, growing awareness about the influence of multistrain probiotics of the immunity, digestion system, and overall health is triggering demand for multistrain probiotics. Leading players in the multistrain probiotics market are aiming to capitalize on increasing disposable income of consumer and growing awareness about their dietary habits to improve profitable sales of their diverse portfolio of multistrain probiotics.

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Multistrain Probiotics Market – Notable Developments

Yakult Honsha Co., Ltd., DuPont Nutrition & Health, Deerland Enzymes, Inc., Protexin, Hansen Holding A/S, Arla Foods, MORINAGA & CO., LTD., LALLEMAND Inc., Danisco, PROBI, Biogaia, Attune Foods, bifodan, Daflorn Ltd., Biocare Copenhagen, ecologicinside, Hansen Holding A/S, danone, Société des Produits Nestlé, and Nebraska Cultures are among the leading players in the multistrain probiotics market.

• In June 2018, DuPont Nutrition & Health – a business unit of DowDuPont Specialty Products Division – announced its partnership with INRA (French National Institute for Agricultural Research) through MetaGenoPolis (MGP) and Micalis Institute to strengthen DuPont’s probiotic strains capabilities with a functional metagenomics approach. The company aims to define DuPont™ Danisco® probiotic strains’ molecular mechanisms of action to consolidate its position in the multistrain probiotics market, with the new collaboration with INRA Micalis-MGP.
• In January 2018, BioGaia – a Swedish biotechnology company that primarily focuses on probiotic products – announced that it has entered an agreement with Abbott Laboratories – an American healthcare company – to commercialize its BioGaia Protectis probiotic supplements in China. The company announced that this collaboration was in line with its strategies to grow its probiotics business in Asian markets.
• In July 2018, Deerland Enzymes & Probiotics – a global leader in enzymes and multistrain probiotics market, announced that it has acquired National Enzyme Company – a leading manufacturer of enzyme-based dietary supplements – to gain momentum in the multistrain probiotics market. The company announced its aim to add National Enzyme Company’s SORA and BioCore® capabilities to its production facility and strengthen the presence in the market with its branded technologies and probiotics expertise.

Ongoing Research and Studies Spread Awareness about Health Benefits of Multistrain Probiotics

As consumers are becoming highly critical about food ingredients and their benefits before making a purchasing decision, food manufacturers are investing heavily in research on health-benefitting ingredients to attract a large base of health-conscious consumers. The multistrain probiotics market is witnessing healthy growth as recent studies find diverse health benefits of multistrain probiotics.

Researchers find that multistrain probiotics are not only beneficial in treating physical illnesses, such as diarrhea and irritable bowel syndrome (IBS), but can also contribute to improving psychological health. Increasing awareness about the health-boosting properties of multistrain probiotics is expected to contribute to the increasing growth of the multistrain probiotics market in the upcoming years.

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Applications of Multistrain Probiotics in Dairy Products to Remain Highest

Increasing growth of the multistrain market is mainly attributed to its applications in pharmaceuticals, animal feed, and food & beverages, however, food & beverage industry remains the linchpin for the multistrain probiotics market.

Consumers are becoming critical about their dietary choices and thereby, are more inclined towards food products with high nutritional contents. Dairy products are likely to remain the leading segment in the multistrain probiotics market, and leading market players are shifting their focus on the dairy industry to capitalize on this trend.

Some of the examples include

• In October 2018, Hansen Holding A/S – a leading bioscience company – announced that it has acquired all the assets of Österreichische Laberzeugung Hundsbichler GmbH – an Austria-based ingredient supplier. With this acquisition, the company aims to expand its enzymes business in the traditional processed cheese segments of the dairy industry.
• In December 2018, Arla Foods, Inc. – a leading dairy company in the multistrain probiotics market – announced that it has acquired the Middle East and Africa Kraft branded processed cheese business of Mondeléz International – an American food company.

Asia Pacific to Emerge as a Leading Market for Multistrain Probiotics

Though the wave of health & fitness have spread across the world, rapidly-growing end-user industries in the Asia Pacific have a major contribution in growth of the multistrain probiotics market. Leading players in the multistrain probiotics market are shifting focus on their businesses in developing countries in the Asia Pacific region to leverage increasing disposable income of consumers and growing demand for healthy and nutritional food products.

European market for multistrain probiotics is also likely to create lucrative opportunities for market players in the upcoming years with growing health awareness among European consumers. In addition, governing bodies in Europe, such as the European Society for Clinical Nutrition and Metabolism (ESPEN), have developed regulations and directives to govern the use of multistrain probiotics in various food products, pharmaceuticals, and dietary supplements. This is likely to augur well for the multistrain probiotics market players in Europe.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global Blackout Fabric Laminates market.

The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with Blackout Fabric Laminates market attractiveness as per segments. The report also maps the qualitative impact of various factors on Blackout Fabric Laminates market segments and geographies.

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Multistrain Probiotics Market Segmentation

The multistrain probiotics market can be bifurcated on the basis of:

• Applications
• End-users

Multistrain Probiotics Market Segmentation Based on Applications

• Food & Beverages
• Animal Feed
• Dietary Supplements

Multistrain Probiotics Market Segmentation Based on End-users

• Humans
• Animal Feed

Frequently Asked Questions

• What is the Growth Outlook for the Multistrain Probiotics Market?
• Which Region is the Largest Market for Multistrain Probiotics?
• Which is the Valuation of Multistrain Probiotics Market as of 2022?

About FMI

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

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The global native starch market is projected to witness a CAGR of 5.7% and is anticipated to reach a valuation of around US$ 2.6 Billion by 2032, while it is estimated to be valued at US$ 1.5 Billion in 2022.

The increased use of native starch as a stabilizing, thickening, and gelling agent, as well as a diluent, binder, and excipient, is expected to drive the demand for native starch. The expansion of the food and beverage industry is projected to be a major driver of consumption.

The product is used in the production of frozen, packaged, and ready-to-eat foods. The market for such food products is rapidly expanding, particularly in emerging nations, which is projected to have a beneficial impact on the industry’s growth. These impacts are helping the sales of native starch.

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The adoption of native starch is anticipated to rise with a variety of manufacturing ingredients, including corn, potato, and wheat. The United States is projected to be the world’s leading corn producer and exporter in 2022.

The vast supply of raw resources, together with the country’s well-established manufacturing sector, is predicted to be a major driver of industry expansion in the United States, boosting the sales of native starch.

Moreover, the growing food and beverage industry, particularly in rising economies like India and China, has boosted the number of native starch customers in these countries.

The buyer’s decision is likely to be influenced by cost competitiveness and product quality, increasing the adoption rate with rising demand for native starch due to low switching costs and the availability of multiple manufacturers around the world, buyers have a lot of leverage.

Key Takeaways

• The market is segmented based on source, wherein the native starch is anticipated to account for around 31.7% of the market share over the forecast period, thriving the native starch market
• The North American native starch market is expected to witness a lucrative growth rate of 5.2% during the forecast period.
• East Asia is inferred to account for 15.4% of the global native starch consumption through 2032, fueling the demand for native starch.
• The market is segmented based on end-use, wherein food and beverages are anticipated to account for around 31.7% of the market share over the forecast period.

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 “To expand their business, key manufacturers are employing aggressive techniques. Product branding and positioning are extremely important to them. Consumer pleasure is being used as a realistic approach for growing their global impact. These are the factors driving the native starch market forward.” – Future Market Insights Analyst.

Competitive Landscape

The growth in the global food and beverage industry is propelled by targeting emerging economies that are creating lucrative opportunities for various global markets. Native starch companies are implementing robust go-to-market strategies such as collaborations, partnerships, M&A, and divestitures in addition to focusing on organic growth, increasing the demand for native starch.

Key players operating in the global native starch market also focus on strategic collaboration with local distributors in the emerging countries to reach a large consumer base.

Key players in the global native starch market include: 

• Ingredion Inc.
• Cargill, Inc.
• E. I. du Pont de Nemours
• Tate & Lyle PLC
• Archer Daniels Midland Company
• Roquette Frères S.A.
• Euroduna Food Ingredients GmbH
• BENEO GmbH
• Kent Corporation
• MGP Ingredients Inc.
• AGRANA – Beteiligungs
• AG Tereos Starch & Sweeteners Iberia Sa
• Thai Flour Co., Ltd.
• Manildra Group
• Avebe U.A
• Amylco LLC
• KMC Kartoffelmelcentralen A.M.B.A
• Gulshan Polyols Ltd.
• SPAC STARCH PRODUCTS (INDIA) LTD among other native starch manufacturers.

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  Recent Market Developments:

• Ingredion Pvt ltd recenly launched functional native starches that formulates food and beverages with ingredients consumers accept, prefer and expect. This is anticipated to push the competition level and increase the sales of native starch.
• Cargill Inc has included new applications in its native starch batch such as brewing adjuncts, bakery mixes and processed meat. This increases the demand for native starch globally.

Explore More Valuable Insights

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

The study offers compelling insights based on the native starch market by nature (corn, wheat, potatoes, tapioca, others), by form (powder, liquid), by end-user (food and beverages, paper industry, feed industry, others) & region across seven major regions of the world.

About FMI

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

Contact Us:

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The global monoprotein market share is set to witness growth at a CAGR of 3.0% and top a valuation of US$ 4.3 Billion by 2032. Demand for monoprotein is likely to increase as pet owners need to deal with pet’s intolerance to a particular type of food protein, it is difficult to get away from the undesired components for customers.

The sales of monoprotein are projected to rise as it is a single protein-sourced product. It is a solution guaranteeing the uniqueness and purity of pet food products with fundamental nutrients, necessary for pet health. As a result, these factors are likely to increase the monoprotein market share during the forecast year from 2022 to 2032.

Along with that, nowadays products labelled with salmon-based food or chicken-based food contains numerous harmful chemicals and preservatives. Furthermore, to avoid such products people are opting for monoprotein, which is boosting the monoprotein market growth during the forecast period.

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The adoption of monoprotein is anticipated to recover the gap in the pet food market where a certain type of food protein is necessary to build immunity and muscle mass for pet’s allergy.

There are many variants like pork, chicken, salmon, and others available as a protein source to those products. As a result, the sales of monoprotein are anticipated to rise. These factors are anticipated to boost the monoprotein market trends & forecast during the forecast period.

Key Takeaways from Market Study

• The monoprotein market analysis is worth US$ 3.2 Bn sales in 2022.
• The monoprotein market share is expected to expand at a CAGR of 3.0% through 2032.
• Global monoprotein demand is projected to grow year-on-year (Y-o-Y) growth of 2.7% in 2022.
• The monoprotein market statistics are growing with a notable boost towards the production to reach US$ 4.3 Bn by 2032.
• High product demand from the pet food industry, and tasty and convenient product forms are the factors driving the monoprotein market growth.
• These factors are some of the influencing factors among consumers, which is driving sales of monoprotein across global markets.
• Demand for monoprotein grew at 2.4% CAGR between 2017 and 2021.
• Monge SPA, Purina PetCare (Nestlé S.A.), Brit Mono Protein (Vafo Praha s.r.o.), Country Farms, and Stuzzy Monoprotein (Agras Delic S.P.A.) are expected to be the top players in the industry.
• Monoprotein market key trends & opportunities rise along with the dog as pet type, adult pet life-stage, flavored monoprotein, raw packaging type, and online retail sales channel are in heavy demand from pet food industry carrying a notable market share.

“A single source of protein for pets with guaranteed tolerability among the animals with food intolerance or allergies is the principle behind monoprotein products. The products come without any added preservatives, or artificial colorants or flavorings, to ensure that there is no chance of harm to the pets and the pet get complete nutrition as well from the product, driving the market growth,” – Future Market Insights Analyst.

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Competitive Landscape

Key monoprotein brands are conducting several types of research and looking for new strategic partnerships, while key business brands are focusing on developing applications in the food industry to generate high-quality food and beverage solutions.

The top players are focusing on new formulations and product innovations to gain monoprotein market growth and attract more customers to the product.

• In 2020, Monge launched the top-quality and natural super-premium product BWild, which is a Low Grain or Grain Free monoprotein, and launched to fulfil the demand for innovative products in the field of the pet food industry, which also supports the dietary needs of pets.

Monoprotein Market by Category

By Pet Type:

• Dog
• Cat
• Others

By Pet Life-stage:

• Adult
• Kitten/ Puppy
• Others

By Flavor:

• Unflavoured
• Flavoured

By Packaging Type:

• Raw
• Powdered
• Dry & Dehydrated
• Liquid & Gravy
• Canned
• Frozen & Freeze-Dried
• Others

By Sales Channel:

• Hypermarkets /Supermarkets
• Convenience Stores
• Discount Stores
• Online Retail
• Others Retail Formats

By Region:

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

About FMI

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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[Report of 190 Pages] Future Market Insights (FMI) predicted that the market for radiopharmaceuticals would be worth US$ 6.2 billion in 2022. The market for radiopharmaceuticals is expected to grow at a value CAGR of 4.3% between 2022 and 2032, reaching US$ 9.5 billion.

As per Future Market Insights (FMI), driven by rising cases of cancer and cardiovascular diseases, radiopharmaceutical market registered steady year-on-year growth at 4.90% CAGR in 2021.

Increasing development of radioisotopes to curb the cases of cancer have propelled the market demand, topping a valuation of US$ 6,107.2 Mn in 2021. Rising cases of prostate and breast cancer, especially in developed countries including the U.S., the U.K., and Germany, have increased the application of radiopharmaceuticals.

Government initiatives and research activities undertaken to develop advanced radioisotopes for the treatment of cancer and to develop novel therapeutics will boost the demand. Also, introduction of novel technologies such as Positron Emission Technology and others in nuclear imaging systems will bolster growth.

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However, due to the global shutdown witnessed in the FQ-20 in response to the COVID-19 outbreak, growth declined considerably. Suspended production of radioisotopes and disruption in the research activities delayed the deployment of projects in the healthcare sector.

Although, with increasing development activities and increasing commercialization of radiopharmaceuticals by industry giants have picked up the pace for the growth of market. Alongside this, increasing cases of cancer will accelerate the development of nuclear medicines in the field of radiopharmaceuticals.

Increasing preference of non-invasive medical therapies and production of radioisotopes for the treatment is another factor that will stabilize the growth of radiopharmaceuticals market. Based on this, FMI projects the market is poised to expand at over 4.66% CAGR during the forecast period of 2021 and 2031.

Prominent Players:

• Siemens AG
• Positron Corporation
• Novartis (Advanced Accelerator Applications)
• Curium
• GE Healthcare
• Lantheus Holdings Inc.
• Sotera Health LLC
• Bayer AG
• Eckert & Ziegler

Key Takeaways from FMI’s Radiopharmaceuticals Market Study

In terms of application, oncology will contribute over 50% of global market share owing to the rising prevalence of cancer across the globe.

Cyclotrons are expected to be the primary source of radiopharmaceuticals, accounting for maximum market share

Based on radioisotope type, technetium-99 will remain highly preferred radioisotope in the global radiopharmaceutical market

The U.S. will retain its global dominance backed by the high cancer and cardiovascular cases rising in the country

India will emerge as lucrative market owing to the favorable government initiatives promoting the radiopharmaceuticals market

Germany and the U.K. are spearheading the growth of Europe market, which is projected to grow at over 4.9% CAGR

“Increasing research and development initiatives aimed at the production of advanced radioisotopes and novel technologies will improve growth prospects for the leading players in the radiopharmaceuticals market,” says the FMI analyst.

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Competitive Landscape

Leading radiopharmaceuticals market players are focusing on expanding their customer base through strategic mergers and acquisition. Increasing research and development activities to develop advanced radioisotopes for the cancer treatment is another core strategy adopted by leading players.

Top 5 players including Siemens AG, GE Healthcare, Curium, Lantheus Holdings Inc., and Eckert & Ziegler are dominating the global radiopharmaceuticals market, contributing over 90% of revenue share.

In March 2021, Novartis announced the commercialization and obtained the rights to develop the therapeutic applications of Fibroblast Activation Protein (FAP) targeting agents including FAPI-46 and FAPI-74, through an assignment agreement with iTheranostics, Inc., an affiliate of SOFIE Biosciences, Inc.

Along with it the company announced the production and commercialization of new nuclear medicine, 18F sodium fluoride radiopharmaceutical in France.

In November 2020, Blue Earth Diagnostics, a leading molecular imaging diagnostic company, unveiled that their manufacturing company, Nucleis has manufactured and shipped their first doses of rhPSMA-7.3 (18F), an investigational Prostate-Specific Membrane Antigen (PSMA)-targeted radiohybrid PET imaging agent, for patients with prostate cancer.

Another industry giant, Jubilant Pharma Limited Company, in 2019, announced the integration of its radiopharmaceutical drug development and manufacturing business with its radio-pharmacy business into a global radiopharmaceutical brand, Jubilant Radiopharma.

Radiopharmaceuticals Market by Category

By Radioisotope Type:

• Technetium-99
• Fluorine-18
• Iodine-131
• Leutetium-177
• Yttrium-90
• Gallium-68
• Gallium-67
• Rubidium-82
• Iodine-123
• Iodine-125
• Indium-111
• Others

By Application:

• Oncology
• Cardiology
• Gastroenterology
• Neuroendocrinology
• Neurology
• Nephrology
• Others

By Source:

• Cyclotrons
• Nuclear Reactors

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By End-User:

• Hospitals
• Diagnostic Imaging Centers
• Ambulatory Surgical Centers
• Cancer Research Institute

About FMI:

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

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