Market Research Blog – Page 619 – New Product Development

Naturally Bold: Innovations in the Coloring Foodstuffs Market

The coloring foodstuffs market is forecasted to garner revenue of USD 976.7 million in 2033, up from USD 671 million in 2023, advancing at a rate of 4% from 2023 to 2033.

Today’s consumers are increasingly mindful of the ingredients in their food, seeking healthier options over synthetic colors. The coloring foodstuffs sector has emerged as a promising solution, providing natural, safe, and visually appealing choices to enhance the visual appeal of various food and beverage products.

A major driver of this market expansion is the growing preference for natural and clean-label products. Consumers are becoming more aware of the potential health risks linked to synthetic food colors and are actively seeking alternatives sourced from natural ingredients.

However, coloring foodstuff manufacturers face considerable challenges in navigating complex and evolving regulations. Adherence to stringent food safety, labeling, and ingredient sourcing regulations requires companies to carefully manage their compliance efforts to successfully introduce their products to the market.

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Maintaining color stability and preventing color fading during food processing and storage is a critical challenge in the coloring foodstuffs industry.

Natural colorants may be sensitive to heat, pH levels, and oxidation, impacting their performance and shelf life. Developing stable formulations that retain color vibrancy throughout a product’s shelf life is crucial for manufacturers.

Continuous product innovation is crucial to staying ahead in the coloring foodstuffs industry. Manufacturers can capitalize on opportunities by developing novel color shades, improving stability, and enhancing the versatility of coloring foodstuffs.

Innovative techniques, such as microencapsulation and nanotechnology, can offer improved color delivery systems and open doors to new applications.

The market for coloring foodstuffs has significant potential for expansion into new geographical markets. As consumer awareness of natural food colors increases globally, there is an opportunity to introduce coloring foodstuffs in regions where synthetic food colors dominate.

Expanding market presence in emerging economies and untapped markets can lead to substantial growth for industry players.

Key Takeaways:

In 2022, the United States of America held a value share of 29% in the coloring foodstuffs industry.
The market in Germany accounted for a significant value share of 103.0% in 2022 globally.
In 2022, the fruits sub-segment held a significant value share of 25.60% based on extract type.
The market value for coloring foodstuffs secured a CAGR of 2.2% from 2018 to 2022.
Based on end use, the beverage sub-segment was predicted to account for a 32% share in 2022.
The market for coloring foodstuffs in India is likely to secure a 9.1% CAGR from 2023 to 2033.

How Intense Is the Competition in the Coloring Foodstuffs Industry?

Competition intensifies as more companies recognize the growing demand for natural and vibrant food coloring options.

The expanding consumer preference for clean-label and natural food products has fueled the demand for coloring foodstuffs. As a result, both established players and new entrants are vying to capture a share of this rapidly growing market. The potential for revenue growth and market expansion motivates companies to compete aggressively.

The market attracts diverse players, including large multinational corporations, medium-sized enterprises, and small-scale manufacturers. This diverse landscape contributes to increased competition as companies strive to differentiate themselves through product offerings, quality, pricing, and market presence.

Continuous innovation and product development are key drivers of competition in the coloring foodstuffs industry.

Market by Category

By Form:

Liquid
Powder

By Extract Type:

Fruits
Vegetables
Cereals
Herbs and Spices
Others (Cocoa, Coffee, etc.)

By End Use:

Bakery, Snacks, & Cereal
Beverage
Confectionery
Dairy
Meat, Poultry, Fish, & Eggs
Sauces, Soups, & Dressings
Seasonings
Others (Pharmaceutical, Nutraceuticals, etc.)

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
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.

Contact Us:

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T: +1-347-918-3531
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Website: https://www.futuremarketinsights.com
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Innovate with Immune-Boosting Coconut Milk Products for a Health-Conscious Market by 2033 | FMI

The coconut milk market is estimated to be worth US$ 1,233.4 million in 2023 and is projected to be valued at US$ 2,199.4 million in 2033. Between 2023 and 2033, the market is expected to register a growth rate of 6.3%.

With increased emphasis on health among customers, consumption and demand for coconut milk are likely to rise. Coconut milk products include antibacterial & antiviral qualities that help to strengthen the immune system against a variety of pathogens.

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Increasing demand for vegan products and a growing number of people are making the switch to plant-based and organic foods regulating the coconut milk market’s future trends.

Consumers are inclined towards foods that comprise numerous health benefits, the more customers perceive coconut milk-based goods to be more healthful than those with additional tastes or artificial additives and chemicals resulting in the strengthening of the coconut milk market opportunities.

Increasing awareness of lactose intolerance and dairy allergies, more people are turning to non-dairy alternatives like coconut milk. Many consumers choose coconut milk as a vegan-friendly option in cooking and as a milk substitute in beverages and cereals, are providing a lucrative opportunity for market demand.

The demand for coconut milk-based beverages has risen significantly as they are rich in vitamins and minerals, appealing to consumers seeking functional and nutritious drinks. The growing demand for plant-based beverages boosts the market growth.

The rising use of coconut milk in Asian, Caribbean, and Latin American cuisines, and the expanding consumer base for these cuisines contributing to the coconut milk market.

Increasing advances in manufacturing and the introduction of new coconut milk-based products such as creamers, yogurt alternatives, and flavored variants, are expected to drive the market growth during the forecast period

Key Takeaways

From 2018 to 2022, the coconut milk market demand expanded at a CAGR of 6%
Based on form, the liquid segment is expected to account for a market share of 88% during the forecast period.
Global coconut milk demand in Germany is predicted to account for a value share of 2.7% from 2023 to 2033.
In the United States, the market is expected to account for a market share of 28.2% between 2023 and 2033.
A growth rate of 83.2% is estimated for the organic segment over the forecast period.
China is projected to expand by a value CAGR of 7.6% between 2023 and 2033.
By 2033, the coconut milk market in India is anticipated to record a CAGR of 2% during the forecast period.

“The increasing demand for coconut milk products and the rising importance of functional and healthy food is anticipated to support the growth of the market during the forecast period.” says an FMI analyst.

Competitive Landscape

To grow their market share, increase profitability, and stay competitive in the coconut milk products market players have used product launch and business expansion as key strategies. Some of the recent developments in the market are discussed below.

Goya Foods is a well-known American food company that produces a wide range of Hispanic and Latin American food products, including canned coconut milk and coconut cream.
Arroy-D is another Thai company that specializes in coconut milk and coconut cream production. Their products are widely used in Asian and international cuisines.
Renuka Agri Foods PLC & Renuka Agri Organics Ltd are the leading manufacturers, marketers, and exporters of coconut-based food and beverages. They produce products such as coconut milk powder, desiccated coconut, virgin coconut oil, coconut water and coconut milk.

Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global coconut milk market, providing historical data from 2018 to 2022 and forecast statistics between 2023 and 2033.

To understand opportunities in the coconut milk market, the market is segmented based on Form (Liquid, Powder), Nature (Organic, Conventional), End-Use (Household, Food Service, Food & Beverage Manufacturing, Cosmetics and Personal Care, Other Application) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, the Middle East, and Africa).

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Innovate with High-Quality Demineralized Whey Powder Ingredients to Meet Rising Infant Formula Demand | Says FMI

According to Future Market Insights (FMI), the demineralized whey powder ingredient market is expected to thrive at a CAGR of 5% from 2023 to 2033. As per recent estimates, the market value is projected to increase from US$ 657 million in 2023 to US$ 1,086.7 million by 2033.

Whey is a by-product of cheese manufacturing industry. Whey is rich in protein and less in milk fat. This collected whey contains more water hence it is concentrated to remove excess water, demineralized, and then spray-dried to get free flowing powder. Whey protein is of three major types whey protein concentrate, whey protein isolate and whey protein hydrolysate. Demineralized whey powder is white to yellowish in colour, free flowing powder, with typical milk taste and free from foreign odor. While cheese processing various salts are added to milk, hence whey is rich in minerals such as calcium, phosphorous, potassium and others. These mineral are not suitable for infant food formulations. Hence, increasing demand for infant formula is driving the growth of demineralized whey powder ingredient. Demineralized whey powder ingredient is made from fresh, pasteurized whey, collected from cheese production.

Various techniques such as ion-exchange chromatography, electro-dialysis, cross-flow nanofiltration and others are used in demineralization of whey by removing/reducing soluble mineral, especially D90 and D70 variants are commonly used in the production of infant formula powder. The grades of demineralizes whey powders are based on the percent of mineral removed from whey. Whey powder have to store in cool and dry place and away from water and sunlight as its sensitive product.

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Demineralized Whey Powder Ingredient Market: Region-wise Outlook
Demineralized whey powder ingredient market is segmented on the basis of region includes North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa. North America and Western Europe is mature market for demineralized whey powder ingredient and emerging economies such as Asia Pacific provide opportunities for growth in forecast period. Increasing technological advancement in whey processing industries and rising packaged food and low-calorie food consumption in Asia Pacific, Middle East and Africa is expected to promote use of demineralized whey powder ingredient in forecast period. With increasing demands for packaged food and convenient products for infant is driving the market and is expected to register healthy CAGR during forecast period.

Demineralized Whey Powder Ingredient Market: Drivers
Increasing population and strong demand for low calories and protein rich food is creating opportunity for demineralized whey powder ingredient in food and feed industry. As harmful minerals are removed or reduced in powder, is can be used in special food product developments. Health consumers are demanding for low calorie but still nutritionally dense products, and whey powder are rich in protein, carbohydrates and lactose and demineralized whey powder is used in food fortification and new product development designed for sports and clinical nutrition.

Demineralized Whey Powder Ingredient Market: Key Players
The key international players operating in demineralized whey powder ingredient market includes Eurosérum, Dairygold Food Ingredients, Kaskat Dairy, Senel (Holding) B.V., Van Lee Melkprodukten Barneveld BV, Dairy Crest, Valio Ltd and SPX Corporation. Manufacturing companies in demineralized whey powder ingredients are focusing on partnerships either for product portfolio expansion or for increasing global presence. For instance, in July 2014, Diary Crest signed partnership with Fonterra to sell demineralized whey powder for infant food applications.

Market Segmentation

By Product:

40% Demineralized Whey
50% Demineralized Whey
70% Demineralized Whey
90% Demineralized Whey

By Application:

Dietary Supplements
Bakery & Confectionery
Infant Food
Pharmaceutical
Others

By Region:

North America
Latin America
Europe
Asia Pacific
The Middle East & Africa (MEA)

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Encapsulated Flavors Market to Reach USD 5.7 Billion by 2034 | FMI Study

The global Encapsulated Flavors market share is on a significant growth trajectory, with projections indicating an increase from USD 3.4 billion in 2024 to USD 5.7 billion by 2034. This growth, at a CAGR of 5.3% over the forecast period, is driven by evolving consumer preferences for clean label products and advancements in encapsulation technology.

Market Dynamics and Key Trends

Encapsulated flavors have experienced a notable uptick, propelled by the clean label movement that favors transparency and natural ingredients over artificial additives. This shift is in line with increasing consumer health consciousness, which drives the demand for natural extracts perceived as healthier alternatives.

Manufacturers are expanding their reach into niche markets and specialty products, leveraging technological advancements in encapsulation. Techniques such as spray drying and fluid bed coating are enhancing flavor stability and controlled release, allowing for the effective integration of complex and delicate flavors into a variety of products.

Key Industry Highlights

Product Type Segmentation: Flavor Blends, which hold a 32.5% share in 2024, are anticipated to grow at a CAGR of 4.8% through 2034. These blends offer versatility across food, beverage, and pharmaceutical industries, meeting specific application requirements and consumer preferences.
End-Use Application Segmentation: The Pharmaceutical and Personal Care segment, contributing 16.8% of the market in 2024, is expected to advance at a CAGR of 5.2%. Encapsulated flavors in this segment offer functional benefits, including antimicrobial properties and skin-soothing effects, aligning with trends toward multifunctional and natural ingredients.
Flavor Type Segmentation: Citric Flavors are gaining traction in beverages and confectionery due to their refreshing and zesty profile. Their popularity is supported by the clean label trend, which emphasizes natural and transparent ingredient sourcing.
Encapsulation Process Segmentation: Innovations in Spray Drying, Spray Congealing/Chilling, Fluid Bed Coating, and Glass Encapsulation are enhancing flavor stability and shelf life. These advancements are crucial for meeting consumer demand for consistent and high-quality flavors.

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Regional Insights

United States: The market is projected to grow at a CAGR of 4.9%, with sales expected to reach USD 1.3 billion by 2034. Advances in encapsulation technology are facilitating the broad application of flavors across various product categories.
Germany: Expected to account for 17.5% of European sales, Germany’s market is growing at a CAGR of 5.2%. The favorable regulatory environment is driving innovation and supporting the adoption of encapsulated flavors.
China: China’s market is anticipated to reach USD 987.5 million by 2034, growing at a CAGR of 4.5%. The country’s focus on high-quality encapsulation technologies enhances its competitive position in global markets.

Competition Outlook

Manufacturers are also looking to preserve their demand space position by focusing on product quality, innovation, and matching varied customer preferences.

For instance

PLT Health Solutions, Inc. launched a broad-spectrum anti-microbial activity, a new flavor encapsulating technology that helps in extending shelf life and enhanceing flavor in a variety of food and beverage products.

Leading Encapsulated Flavors Brands

Symrise AG
International Flavors & Fragrances Inc.
Cargill Incorporated
Instant Foods
Kerry Group
Firmenich SA
FONA International Inc.
Clextral
Gold Coast Ingredients, Inc.
Synthite Industries Limited
Others

Key Segments of the Report

By Product Type:

As per product type, the ecosystem has been categorized into Flavor Blends, Essential Oils, Natural Extracts, and Other Product Types

By Encapsulation Process:

This segment is further categorized into Spray Drying, Spray Congealing/Chilling, Fluid Bed Coating, Glass Encapsulation, and Other Processes

By Flavor Type:

As per the flavour type, the customer base has been categorized into Fruit Flavors, Nut Flavors, Chocolate Flavor, Spice Flavors, Vanilla Flavor, Citric Flavor, Berry Flavor, and Other Flavors

By End- Use Application:

This segment is further categorized into Bakery and Confectionary, Cereal and Oatmeal, Snack Food, Frozen Food, Dairy Products, Beverages and Instant Drinks, Pharmaceutical and Personal Care, and Other Applications

By Region:

Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.

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Exploring Growth Opportunities in the Aqua Feed Market Anticipated 6.8% CAGR by 2033 | FMI

By 2033, aqua feed market value is expected to reach a valuation of US$ 90.9 billion, with a strong CAGR of 6.8% over the next ten years. This significant growth is anticipated from its starting point of US$ 46.8 billion in 2023.

The aqua feed market has grown greatly due to multiple factors. Key reasons include growing customer awareness about the health benefits of seafood.

In aqua feed market, manufacturers’ profitability can impact as raw materials like fish meal, fish oil, and soyabean oil prices may fluctuate.

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Market Opportunities
In aqua feed market, there are many opportunities as the demand for seafood is increasing day by day. There are many technological advancements are seen, such as the development of feed ingredients and formulations. From this also, the demand for acquiring seafood is increasing

This is a very sustainable way to produce seafood compared to traditional fishing. People are now becoming health conscious nowadays, so they are demanding aqua feed because it has many health benefits– it contains protein, minerals, fats, carbohydrates, and vitamins.

Key Takeaways

The aqua feed market is expected to grow consistently from 2023 to 2033, with a projected US $90.9 billion value by 2033.
In 2022, the United States emerged as the dominant force in the aqua feed market, commanding a significant market share of 31.2%.
Germany showcased impressive progress in 2022, attaining a market share of 8.5% and signaling a rising interest in the aqua feed sector.
The aqua feed market in Japan witnessed substantial expansion in 2022, securing a significant market share of 4.8% and demonstrating its increasing market potential.
India made a main entry into the aqua feed market in 2022, capturing a market share of 8.0% and showcasing its active involvement and influence within the industry.

Competitors Winning Strategies
Competitors of the aqua feed market are applying many strategies to become a leading company. Companies are focusing on research and development to develop new ingredients which help enhance the health and growth of fish and other aquatic animals. They are opening new feed factories all over the world to meet the growing demand for aqua feed in their regions.

They are making partnerships with other industries as well to accelerate the development of new ingredients also, they get more new customers from other industries.

Key Players

Cargill, Incorporated
Charoen Pokphand Foods PCL
BioMar Group
Ridley Corporation Limited
Aller Aqua
Biostadt India Limited
BENEO
Alltech
INVE Aquaculture
AKER BIO MARINE
Skretting
Purina Animal Nutrition LLC
Dibaq Aquaculture
Avanti Feeds Limited
The Waterbase Limited

Recent Developments:

Aller Aqua: Aller Aqua revealed its relationship with the Bayrise fish farm in Kenya to its long-term development with high-quality goods that will enhance aquaculture in Kenya.
BioMar: BioMar and Mols Bjerge mutually started an effort to repair eelgrass ecosystems. The project, referred to as “Havets Grønne Enge”, will contribute to the sea environment and lower CO2 from the atmosphere.
Cargill: Cargill confirmed the official launch of its newest fish feed plant, Lotus II, in Vietnam. The fish feed plant includes two lines with an output of approximately 100,000 tons annually.

Aquafeed Market by Category

By Species:

Crustaceans
Fish
Others

By Form:

Extruded
Powder
Liquid
Pellets

By Function:

Health
Digestion
Palatability
Special Nutrition

By Ingredients:

Marine
Land Animal
Veg/Grain
Carotenoid
Nutrients
Others

By Sales Channel:

Direct Sales
Indirect Sales
Hypermarket
Supermarket
Wholesalers
Speciality Stores
Online
Other Retail Formats

By Region:

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

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Vitamin Gummies Market Expected to Reach USD 7.35 Billion by 2033, Driven by Health-Conscious Consumers | FMI Study

According to FMI, vitamin gummies are likely to generate US$ 4050 million by 2023. A CAGR of 6.5% is forecast for the market between 2023 and 2033, indicating a US$ 7352.3 million market. As multivitamin gummy provides critical support for all-around health and well-being demand for these gummies is expected to grow in demand. As convenient and enjoyable forms of vitamin and mineral intake, they contribute to optimal body function by filling nutrient gaps.

Gummies such as these are especially valuable for people who follow strict diets, have a difficult time eating, or are busy. As a result, they ensure that the essential nutrients are received, which support vitality and proper body function. Research is being conducted on vitamin gummies in order to increase their demand. Increasing investments are being made in this research, which is increasing the demand for vitamin gummies. The demand for diet alternatives that are healthy and balanced is driven by supplements.

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Gummies have garnered a great deal of attention in the beauty and wellness industry over the last few years with the advent of Covid-19 last year. In addition to providing multiple vitamins, gummies can also help regenerate hair and skin.

Key Takeaways from the Market Study

The global market for vitamin gummies is expected to reach US$ 6903 million by 2032.
Globally, the United States accounted for 24.7% of the vitamin gummies market share in 2022.
The market for vitamin gummies is expected to rise by 6.3% CAGR between 2022 and 2032.
China accounted for an 11.2% CAGR in 2022, indicating continued growth in the market.
According to projections, the Japanese market accounted for 4% of the global market by 2022.
In 2022, Germany was responsible for 7.2% of the global market share for vitamin gummies in the market.
The vitamin gummies market generated a CAGR of 6% between 2018 and 2022.

“Vitamin gummies will enjoy sustained demand for years to come due to their innovative flavors and attractive packaging. Natural products and premium pricing are expected to drive vitamin gummies’ growth in the market.” says an FMI analyst.

Competitive Landscape

The business of vitamin gummies is growing as many companies form strategic partnerships and collaborate with other businesses. There is a growing trend among vitamin gummies market players to invest heavily in research and development, to develop new products, to expand their geographic presence, as well as to establish partnerships in order to grow their customer base.

On March 2023, SmartyPants Vitamins announced the launch of its most innovative multivitamin to date—SmartyPants Sugar-Free Multi & Omegas. The Sugar-Free Multi & Omegas from SmartyPants don’t contain sugar alcohols like other sugar-free gummies. In addition to having zero grams of sugar and zero grams of net carbohydrates, this new all-in-one supplement is sweetened using monk fruit extract and allulose to avoid digestive upset.
On April 2023, Centrum launched gummies with specialized nutrition in India. Now in India, the company offers a wide range of enjoyable gummies packaged in a high-science supplement format – ‘Benefit Blends’. As Indian consumers live a hectic lifestyle, there are several nutrition gaps that are emerging. According to the company, the new specialized nutrition line is 100 percent vegetarian, gluten-free by nature, and non-habit forming.

Know More about What the Vitamin Gummies Market Report Covers

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

To understand opportunities in the vitamin gummies market, the market is segmented based on product type, customer orientation, source, packaging type, and sales channel industry type across six major regions.

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The Automotive Control Cable Industry is projected to surpass USD 7.33 billion by 2033, growing at a CAGR of 7.37%, according to FMI Reports

In 2022, the global automotive control cable industry was valued at USD 2.5 billion and is projected to reach US$ 3.6 billion in 2023. According to Future Market Insights, the market is expected to grow at a CAGR of 7.37% from 2023 to 2033, reaching approximately USD 7.33 billion by 2033.

The launch of new vehicle models and the rising number of vehicles have significantly influenced market growth. The increasing demand for automotive vehicles, driven by government mandates for anti-lock braking systems in passenger and commercial vehicles, is identified as a key determinant for market expansion.

Future Market Insights also provides exclusive insights into the strategies of companies operating in the automotive control cable sector. The focus is on enhancing competitive strengths and advancing technology to transform the auto ancillary industry, which is characterized by its low volume and high fragmentation.

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Key Takeaways from the Industry Study

Demand in the global automotive control cable market is expected to create an absolute dollar opportunity of nearly US$ 3.4 billion through 2029, expanding at a CAGR of 4.6% over the forecast period from 2022 to 2029.
The global automotive control cable market expanded at a CAGR of 6.24% between 2018 and 2022.
Japan is projected to account for the maximum sales in the automotive control cable market with a CAGR of 9.8%. India is said to dominate the market after China with a market share of 9.12%.
Germany is expected to thrive a significant pace at a value of 16.3%, assisting Europe’s market to hold around 27.2% of the total revenue share through 2022 whereas the United Kingdom expands at a CAGR of 7.82%.
North America holds a value share of 38.3% whereas the United States holds a key part with a value share of 32%.
Sales of clutch cable might rise at a significant pace in the automotive control cable market with a market share of 49.8%.
Polyethylene segment is projected to account for a significant share of the market with a market share of 60.2%.
Compact car segment is anticipated to continue dominating the automotive control cable market at a value share of 55.2%.
(OEM) segment is projected to hold the dominant share in the global market with a value share of 44.23%.

“Increasing in response to a substantial rise in road accidents, and government initiatives for enhancing the overall safety is one of the major implementations of automotive control cables market “– comments a Future Market Insights analyst.

Competition Landscape

Some of the prominent players profiled in the global market are-

Thai Steel Cable Public Co., Ltd
Minda Corporation Limited
Kongsberg Automotive ASA.
Suprajit Engineering Ltd
FicosaInternacional SA,
Dura Automotive Systems
Scottish Leather Group Limited
HI-LEX Corporation
Grand Rapids Controls Company LLC.
Conwire Pty Ltd.

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

In April 2023, Ficosa, a leading global company dedicated to the research, development, production, and marketing of advanced vision, safety, and efficiency solutions for the automotive industry, plans to sell more than 7 million cameras throughout 2023
In November 2022, DURA Automotive Systems announced that the official groundbreaking of a state-of-the-art manufacturing facility in Muscle Shoals, Alabama. The latest addition to a family of 31 worldwide sites will be home to DURA’s first lightweight structures manufacturing facility in North America.

Automotive Control Cable Industry by Category

By Product Type:

Door Cable
Hood Cable
Transmission Cable
Trunk Cable
Brake Cable
Clutch Cable
Throttle Cable
Fuel Cap Cable

By Coating Material:

PCV cables
Polyethylene

By Vehicle Type:

Compact
Mid-size
Luxury
SUV
LCV
HCV

By Sales Channel:

OEM
Aftermarket

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The Boat Trailers Industry is expected to reach a valuation of USD 1,590 million by 2033, registering a CAGR of 4.5%, according to FMI Reports

Boat Trailers Market — Boat Trailers Industry

In 2022, the global boat trailers industry reached a consensus value of USD 978.7 million and is projected to be approximately USD 1,023.9 million in 2023. The market is anticipated to grow at a modest CAGR of 4.5% from 2023 to 2033, potentially reaching USD 1,590 million by 2033.

Boat trailers offer several unique selling points (USPs), such as customization options, various load capacities, and distinct low-speed and high-speed trailers. The rise in marine tourism and the expansion of boat fleets are key drivers of the boat trailer market’s growth.

The market is rapidly expanding due to the surge in marine tourism and recreational water activities. Increasing boat trailer sales are driven by the growing popularity of activities such as boating, yachting, kiteboarding, and water skiing.

Furthermore, tourism is on the rise in countries with river access. Consequently, there is a growing demand for boats and other water-related equipment for recreational purposes in both emerging and developed nations.

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Increasing Boat Sales for Recreational Activities

The boat trailers market growth is directly correlated with increasing fleet of boat and new sales of boats. With the increase in the growth of marine tourism and water activities, the demand for new boats is expected to rise, which in turn, fuels the sale of boat trailers.

The main advantage offered by the boat trailer is to provide the flexibility for transport boats to various places such as inlets, rivers, lakes, bays, & the sea. There are two types of boat trailers, bunk and roller type trailers, which are used by end users. With the increase in boat parc, the demand for boat trailers also increased as boat trailers provide safety to boats and increases the life of a boat.

Boat trailers also prevent salt water boats from rust formation due to coatings and change of materials. Such features have led to the growth of the global boat trailer market.

Moreover, increasing average life of the boat and growing maintenance and services of boats, increases the sales of boat trailers for old boats. In 2017, more than 10 million boats were registered in the U.S. and this number is estimated to grow with ~ 1% growth rate in the nearby future. With the increase in the U.S. boat fleet, the sales of boat trailers also increases as the U.S. holds ~43%share in the global boat trailer market.

Industry Attractiveness of the South Asia-East Asia-ASEAN Cluster Surging

In the global boat trailers market, South Asia and East Asia are estimated to grow with high growth rate over the forecast period due to the increasing number of marine tourists and also, increases the sales of boats and boat parc across regions. In East Asia, China is one of the prominent countries and holds a significant share in the market due to the presence of several manufacturers in the country.

China is expected to drive the growth of the East Asia boat trailer market. In South Asia, India and ASEAN countries are estimated to boost the growth of the market due to the increasing disposable income of the middle class population. The North America market is projected to be a prominent market in the global boat trailers market, owing to the high demand and use of boat trailers for personal and commercial applications.

Moreover, Latin America and Middle East & Africa markets are also estimated to grow with healthy CAGR throughout the forecast period. We have also considered the Caribbean region in Latin America. All prominent macroeconomic and forecast factors are included while calculating the boat trailers market size.

Competitive Landscape

Leading manufacturers’ innovations and advancements in the global market are anticipated to be driven by the demand for boat trailers. The companies are concentrating on forming partnerships with top logistics companies and governments.

Rapid transportation of products to any customer worldwide and ensuring that their product should provide the necessary benefits. Apart from providing great value, quality, and durability, the prominent players are competing for a larger portion of the market by utilizing strategies including investments, partnerships, acquisitions, and mergers. Companies are also investing heavily in the creation of high-quality products using modern trends and technologies.

Key Players

Kropf Industrial Inc.;
HOSTAR Marine Transport Systems, Inc.;
TRIGANO Group;
Hydrotrans;
Balbi Rimorchi srl;
EZ Loader;
Midwest Industries Inc.;
TRACKER;
Load Rite;
Karavan Trailers;
HLT Ltd.;
Boatmate Trailers;
Venture Trailers

Global Boat Trailers Market by Category

By Product Type:

Bunk Trailers
Roller Trailers
Hybrid Trailers

By Material Type:

Aluminium
- Single Axel Type
- Triple Axel Type
- Tandem Type
Galvanized Steel
- Single Axel Type
- Triple Axel Type
- Tandem Type

By Load Capacity:

Up to 1,500 kg
1,500 kg- 3,000 kg
3,000 kg- 4,500 kg
More than 4,500 kg

By Region:

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

About Future Market Insights (FMI)

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

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The Automotive Light Bars Industry is projected to reach a valuation of USD 69 billion by 2033, growing at a CAGR of 6.4%, according to FMI Reports

In 2022, the global automotive light bars industry was valued at USD 33.8 billion and is projected to reach US$ 37.1 billion in 2023. According to Future Market Insights, the market is expected to grow at a CAGR of 6.4% from 2023 to 2033, reaching approximately USD 69 billion by 2033.

Light commercial vehicles (LCVs) are predicted to account for over half of the global automotive light bars market. This is due to the extensive use of commercial vehicles, which cover many miles, often during nighttime, making visibility and cost-efficiency critical factors. Additionally, the preference of long-distance travelers for commercial vehicles is expected to boost the unit sales of automotive light bars throughout the forecast period.

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Key Takeaways from the Industry Study

Global automotive light bars market expanded at a CAGR of 5.2% between 2018 and 2022.
The automotive light bars market is expected to register a 5.3% CAGR between 2022 and 2029.
China’s automotive light bars market is estimated to account for around 29.6% of the total market share.
India is said to expand at a CAGR of 4.98%.
Japan holds a value share of 5.77%.
Australia captures a market share of 4.6%.
Germany secures a market share of 29.6%.
Europe’s automotive light bars market is projected to hold around 19.2% of the share.
The United Kingdom holds a market share of 16.77%.
The United States holds a market share of 22.6%.
North America’s automotive light bars market is anticipated to account for about 38.1% of the share.
E-commerce sector is adopting heavy commercial vehicles with color-changing light bars.
Heavy commercial vehicles are expected to drive growth in this segment with a market share of 44.8%.
Surging adoption of LED light bars in emergency vehicles to boost growth.
LED segment holds a market share of 41.3%.
Expansion of the automotive aftermarket to propel sales of car light bars.
Aftermarket segment is estimated to remain at the forefront in the automotive light bars market over the forecast period with a market share of 53.1%.
Launch of innovative interior lighting systems to bolster the adoption of auto LED light bars.
Interior segment is projected to lead the automotive light bars market over the forecast period with a value share of 33%.

“Rise in sales of premium cars acts as one of the primary development in the automotive light bars market” – comments a Future Market Insights Analyst.

Competitive Scenario:

Some of the prominent players profiled in the global industry are-

HELLA GmbH & Co. KGaA
OSRAM Licht AG
Federal Signal Corporation
Truck-Lite Co., LLC
Grote Industries, Inc.
Whelen Engineering Company Inc.
Ecco Safety Group
Lumex Industries
PIAA Corporation
Putco Inc.
KC HiLiTES Inc.

Key Innovations in the Industry

In April 2023, viewing the high-quality selection of aftermarket Trim Products for the 2023 Ford Maverick, Putco has been manufacturing and designing automotive and truck accessories in Des Moines, IA for over 50 years.
In January 2023, automotive supplier HELLA operates under the FORVIA umbrella brand, which is growing significantly strong than global vehicle production. Accordingly, HELLA generated sales of €2.0 billion. Compared to the first quarter of the calendar year 2022, this means growth of 14.4 percent (Q1 CY 2022: €1.7 billion1). Global vehicle production increased by 5.7 percent in the same period.

Automotive Light Bars Industry Segmentation

By Type:

Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles

By Technology:

Halogen
HID
LED

By Sales Channel:

OEMs
Aftermarket

By Installation:

Front
Side
Rear
Interior

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
The 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.

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The Portable Wheel Jack Industry is anticipated to reach USD 70.33 billion by 2033, exhibiting a CAGR of 8.7%, according to FMI Reports

Portable Wheel Jack Market — Portable Wheel Jack Industry

The global portable wheel jack industry in 2022 was USD 28.12 billion and is estimated to be USD 30.53 billion in 2023. Future Market Insights has mentioned in its reports that the portable wheel jack market will expand at a CAGR of 8.7% between 2023 and 2033, totaling around USD 70.33 billion by 2033.

The growth in the adoption of hydraulic floor jacks, mainly portable wheel jack lifts heavy vehicles for repair and maintenance across vehicle service centers, because of their cost-effectiveness, that has the ability to lift multi-toned weights, and is easily useable, thus anticipated to drive the growth rate of the market.

Surge and rise in the airplane and railway industry automatically create great potential consumers mainly based on portable wheel jacks. Harsh and intense competition between the hydraulic jack manufacturers forces the manufacturing companies to manufacture good quality products at the lowest price possible.

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Key Takeaways from the Industry Study

Global portable wheel jack market grew at a CAGR of 7.4% between 2017 and 2022
North America’s portable wheel jack market is expected to hold 29.2% of the total market.
United States considerably holds a value share of 18.4%.
Europe is expected to emerge as a lucrative pocket over the assessment period with a market share of 26%.
Germany holds a market share of 22% of the market in Western Europe
Under product type, growing demand for hydraulic floor jacks in the automotive repair sector to bolster sales with a market share of 50%.

“Increasing Investment in the construction of infrastructure is one of the major drivers that help to grow the portable wheel jack market”, – comments a Future Market Insights analyst.

Competition Landscape

Leading players operating in the global portable wheel jack market are focusing on launching novel products to expand their product portfolio and strengthen their market footprint. Some of the other players are aiming at expanding their global presence to increase their market share. For instance,

In January 2023, Curt Manufacturing LLC offers a complete line of towing products and is considered to be the leading manufacturer of USA-made custom-fit trailer hitches that offer the broadest selection of custom-fit receiver hitches for nearly every vehicle on the road.
In December 2022, Lippert Technical Institute displays area showcasing opportunities offered by its state-of-the-art training facility where dealers will be able to sign up for future training opportunities with on-site Lippert training staff.

Top Key Players

Horizon Global Corp.
Curt Manufacturing LLC
Lippert Components, Inc.
Gray Manufacturing Company Inc.
Osaka Jack Co. Ltd.
Tronair Inc.
Kubanzheldormash Co.
Dutton-Lainson Company
Vestil Manufacturing
HYDRO Systems KG
Autolift Gmbh
Jiaxing Datong Machinery Co., Ltd.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global portable wheel jack market providing historical data for 2017 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the portable wheel jack market is segmented based on product type (hydraulic portable wheel jacks- pneumatic portable wheel jacks, electric portable wheel jacks, manually operated portable wheel jacks), and end use (automotive, marine, aerospace, railways, construction and mining) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).

About the Automotive Division at Future Industry Insights

The automotive team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us: