Unidirectional Tapes Market is Expected to Reach at a US$ 1010 Million by 2034 | FMI

Unidirectional Tapes Market
Unidirectional Tapes Market

Over the projected period, the global unidirectional tape (UD) market is anticipated to experience significant growth, with a compound annual growth rate (CAGR) of 12.3%. This surge is forecasted to elevate the market value from US$ 316 million in 2024 to a substantial US$ 1010 million by 2034.

With an increase in the production of electric and hybrid vehicles, the use of automotive adhesive tapes for attaching components in interiors could increase. Additionally, the industry is anticipated to profit from the manufacturers’ growing sensitivity toward automotive aesthetics.

Increased use of unidirectional tapes as a substitute for metals in cars to reduce their overall weight by about 40% is the main factor for market growth. Through the forecast years, sales are also projected to be driven by the fast-rising need for lightweight components in the automotive and aerospace sectors. Additionally, the trend of switching to electric vehicles is anticipated to include the use of lightweight components may probably benefit the industry.

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Key Takeaways from the Unidirectional Tapes Market Study Report

  • Based on geographical regions, North America held a global market share of 22.3% in the year 2022. With a 20.5% sales share in 2022, The United States led the global market and is expected to continue its dominant position through 2033.
  • The total sales of unidirectional tapes in the whole of Europe accounted for 20.8% of the revenue achieved by the market in 2022 globally. Germany is the leading end-user country for unidirectional tapes in Europe which contributed to 3.9% of the revenue share that year.
  • In Asia Pacific region, Japan held a significant market for unidirectional tape producers with a global market share of 5.3% in 2022. Contrastingly, China is observed to be growing at a notable rate in consumption of unidirectional taps and could register a 9.2% CAGR through 2033.
  • FMI awards an astounding annual growth of nearly 9.7% for sales of unidirectional tapes in India over the years between 2023 and 2033. Moreover, it is anticipated that the region’s strongly growing aerospace and car manufacturing sectors might help drive up product demand.

Competitive Landscape for the Unidirectional Tapes Market Players

Cytec Solvay, SABIC, Teijin, Evonik, Toray, Celanese, Barrday, Avient, Polystrand, SGL, and Hexcel are some of the prominent players in the global market. Due to the high concentration of industries in North America and Europe, product acceptance is noticeably low in other areas, which restricts market growth.

The United States and other nations in Europe, particularly Germany, the United Kingdom, Belgium, and the Netherlands, dominate the global market consolidation. However, with the emergence of some new competitors who are mostly focused on strengthening their online sales channels, the market is somewhat competitive nowadays.

The fine manufacture of unidirectional tapes is anticipated to be shaped by ongoing research and development in the design and strength of composite materials. To acquire a competitive edge and penetrate new regional markets, several businesses are also increasing their manufacturing capacity. For instance,

  • Toray Advanced Composites said in May 2021 that it is going to increase its capacity for producing thermoplastic composite materials. The company aims to further the development of its ‘Cetex’ brand of reinforced thermoplastic composite laminates and unidirectional tapes through this expansion.

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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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EV Thermal System Market Poised for 21.4% Growth, Hits US$ 15,600.9 Million by 2033

The overall valuation of the global EV thermal system market size is anticipated to be around US$ 2,243.7 million. As per the analysis report, the market is expected to register a CAGR of 21.4% to reach a valuation of US$ 15,600.9 Million by the conclusion of this forecast period.

The main driver fueling the expansion of the thermal system for the EVs market is the rising popularity of zero-emission cars in various parts of the world. Sales of EVs have increased significantly in nations like China, Norway, and the United States, establishing an advanced EV thermal system market.

The need for electric-powered automobiles has compelled manufacturers to create better heat management technologies, as the use of heat has been eliminated. Rapid charging technologies and battery size reduction are anticipated to increase the sales of EVs, indirectly driving the sales of EV thermal systems. Moreover, the growth in demand for EV thermal systems is probably going to be supported by technical developments in the area of battery heat management.

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Key Takeaways from the EV Thermal System Market Report:

  • The United States captures a total market share of 10.8% of the revenue and leads the global market through higher investment in research and development.
  • Germany is the second leading market in the world for sales of EV thermal systems and sets the trend in Europe. The German EV thermal system market is projected to reach US$ 1,240 million by the end of the year 2033.
  • In Asia Pacific, India is witnessing a higher growth trend with an upsurge in sales of electric vehicles in the country. During the forecast years, the CAGR to be registered by the country is about 22.8%.

Leading Key Players:

  • BorgWarner Inc.
  • Dana Limited
  • Hanon Systems
  • Valeo SA
  • Denso Corporation
  • Robert Bosch GmbH.
  • Mahle GmbH
  • VOSS Automotive GmbH
  • Modine Manufacturing Company
  • Gentherm
  • CapTherm Systems
  • LG Chem Ltd.
  • Visteon Corporation

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Recent Developments in the EV Thermal System Industry

  • In May 2022, Modine Company unveiled its brand-new EVantage Series of thermal systems for commercial electric vehicles. This system concentrates on enhancing the safety, range, and battery life of industrial EVs. For all loads, the system maintains traction motor and power electronics cooling.
  • In May 2022, Eberspaecher Company introduced its brand-new H2-ICE thermal exhaust system for hydrogen fuel electric vehicles (FCEVs). This new exhaust system guarantees the appropriate operation of the entire system while taking into account the particular needs of this fuel. This would keep an eye on rules governing exhaust gases, including NO2, contaminants, and unburned hydrocarbons generated by the hydrogen FUEL engine.
  • In February 2022, BorgWarner Inc. declared that the company had supplied the iX and i4 with fully electric architectures for the BMW Group. With this ground-breaking High-Voltage Coolant Heater (HVCH) solution, the company would aid in the management of the battery and cabin temperature, increasing the EV’s longevity and driving range.
  • The Denso Company said that they have created a brand-new battery-monitoring integrated circuit (IC) for lithium-ion batteries in the year 2020. This new IC increases fuel economy and increases the range of HEVs and BEVs. Detecting voltage levels while keeping an eye on many batteries is also helpful, consequently growing the market portfolio of the organizations.

EV Thermal System Market Segmentation:

By System Type:

  • Heating Ventilation and Air Conditioning (HVAC)
  • Power Train Cooling
  • Fluid Transport
  • Others

By Vehicle Type:

  • Battery Electric Vehicle (BEV)
  • Hybrid Electric Vehicle (HEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)
  • Fuel Cell Electric Vehicle (FCEV)

By Application:

  • Engine Cooling
  • Air Conditioning
  • Heated Steering
  • Waste Heat Recovery
  • Transmission System
  • Heated or Ventilated Seats
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and 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.

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Egg White Powder Industry to Reach US$ 5,071.5 Million by 2033 with 11% CAGR – Rising Demand from Cosmetics and Food & Beverage Sectors

Egg White Powder Market Analysis
Egg White Powder Market

The global egg white powder market is predicted to register a robust CAGR of 11% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 1,768 million in 2023 to US$ 5,071.5 million by 2033 end.

The egg white powder industry is poised to witness heightened growth in the forecast period. Many people are including products containing egg white powder in their diet as egg white powder has a high level of biological value and consists of many minerals and vitamins. Additionally, egg white powder is usually utilized as an alternative to protein-rich food items owing to its prolonged shelf life in comparison to fresh eggs. The extensive application spectrum of egg white powder in bakery products, dietary supplements, ice creams, meat products, and others are the important factors increasing the sales of the product.

The thriving nutraceuticals and dietary supplement industry is projected to drive the egg white powder industry forward. Egg white powder is widely used as a dietary supplement for its bioavailability and lactose-free content. Additionally, this powder contains low fat and carbohydrate content, which helps in robust muscle recovery post its consumption.

Egg white powder is also used in nutraceuticals, owing to its functional and nutritional benefits. The flourishing dietary supplements and nutraceuticals industry is anticipated to elevate the consumption of egg white powder as an essential nutritional and dietary supplement. For example, in June 2021, according to a news published by the Food Safety and Standards Authority of India (FSSAI), the sales of the India nutraceutical market are expected to reach US$ 18 billion by 2025.

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Top Highlights from the FMI’s Analysis of the Egg White Powder Market:

  • On the basis of market share, the United States is estimated to position itself at the top of the industry by attaining the maximum share of 12.2% in the global market. The dense presence of key players in the country is expected to support the country’s dominance at a global level.
  • In the Asia Pacific region, Japan is expected to be a prominent shareholder of 4.1% in the forecast period. Growing health consciousness; and awareness of health benefits associated with egg white powder are fundamental aspects that are propelling the country’s growth.
  • In the Europe region, Germany is expected to account for 2.9% percent of the market share. New launches and variants of the product gain huge acceptance in countries of Europe like Germany, which is bolstering the sales of egg white powder for better results in its different applications.

New Developments as Observed by FMI

  • Designer Protein, a company based in the United States, in October 2018, introduced Totally Egg Protein Powder. The company states that this is the first-ever protein powder that consists of important nutrients from the whole egg.
  • Srinivasa Group, in July 2017, partnered with Hy-line International to extend its poultry footprint and also commence its chicken and egg-powder products manufacturing plants in Andhra Pradesh and Telangana, India.

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Key Players in the Market

  • Merck KGaA
  • HiMedia Laboratories Pvt. Ltd.
  • Kewpie Corporation
  • NOW Health Group, Inc.
  • Taiyo Kagaku Co. Ltd.
  • Avangardco
  • Sanovo
  • IGRECA
  • JW Nutritional, LLC
  • Rembrandt Foods
  • Rose Acre Farms
  • Others

Key Segments

By End Use:

  • Food Processing
  • Cosmetics & Personal Care
  • Pharmaceuticals
  • Dietary Supplements
  • Beverage Processing
  • Retail

By Grade:

  • Food Grade
  • Technical Grade

By Sales Channel:

  • B2B
  • B2C
    • Store-based Retail
      • Modern Trade
      • Convenience Stores
      • Specialty Sports Stores
      • Online Retail
      • Other Sales Channels
    • Online Retail

By Region:

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

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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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Non-Alcoholic Malt Beverages Market Set to Reach US$ 62.7 Billion by 2033 with 6.7% CAGR – Demand for Alcohol-Free Alternatives Driving Market Growth

Non-Alcoholic Malt Beverages Market

The non-alcoholic malt beverage market CAGR is anticipated to be around 6.7% through 2033. The market is expected to develop steadily between 2023 and 2033, with market value rising from US$ 32.7 billion in 2023 to US$ 62.7 billion by 2033.

The key forces behind this development are the rising acceptance of sober socializing and the need for better beverage substitutes. Due to shifting consumer preferences and healthier lifestyles, the market for non-alcoholic malt beverages is considerably growing.

The market confronts obstacles, including poor awareness in some areas, which leads to reduced penetration. Manufacturers may use possibilities like combining natural and organic products, which most customers prefer and developing creative flavors and varieties to appeal to a larger consumer base to get around these limitations.

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A platform for market development can also be provided through partnerships with restaurants and cafés that allow non-alcoholic malt drinks to be served on their menus. The market for non-alcoholic malt beverages is expected to increase significantly over the coming years, driven by consumer tastes and the industry’s capacity to overcome obstacles and take advantage of possibilities.

The non-alcoholic malt beverages market exhibits strengths such as growing consumer demand for healthier alternatives to alcoholic beverages. It also faces weaknesses like limited awareness and a niche consumer base. Opportunities lie in innovation, product expansion, and capturing untapped markets. Nonetheless, the market is not without threats, including intense competition, regulatory challenges, and potential consumer skepticism toward the taste and quality of non-alcoholic malt beverages.

Key Takeaways

  • In the United States, the market grew at a CAGR of 19% in 2022 during the forecast of 2022 in the Global Market.
  • Due to rising health consciousness, China’s non-alcoholic malt beverage market is predicted to rise at a CAGR of 6.7% by 2033.
  • India’s non-alcoholic malt beverage industry is expected to develop at a 12.3% CAGR by 2033.
  • The United Kingdom is likely to register a CAGR of 6.8% by 2033 with the growing trend of sober socializing.
  • Japan’s market grew at a compound annual growth rate of 4.3% in 2022.

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Competitive landscape

Several important competitors in the market for non-alcoholic malt beverages are actively involved in meeting the rising customer demand. Companies with broad product portfolios and substantial distribution networks dominate the industry, such as ABC Drinks, Halewood Wines & Spirits, and Erdinger Brewery.

These firms are concentrating on product innovation and offering new flavors and varieties to appeal to a more extensive customer base. To improve their position in the non-alcoholic malt beverage sector, they are also growing their market presence through strategic alliances, partnerships, and acquisitions.

Recent Developments:

  • The non-alcoholic malt beverages market has experienced a surge in consumer demand due to health consciousness and a desire for alcohol alternatives.
  • Companies are investing in research and development to introduce innovative non-alcoholic malt beverages with natural ingredients, enhanced flavors, and appealing packaging.
  • Key players in the market are expanding their product portfolios by introducing new variants and line extensions to cater to diverse consumer preferences and increase market competition.

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Global Non-alcoholic Malt Beverages by Category

By Type, Global Non-alcoholic Malt Beverages are segmented as:

  • Dairy-based Beverages
  • Carbonated and Soda Drinks

By Flavor, Global Non-alcoholic Malt Beverages are segmented as:

  • Citrus
  • Berry
  • Pomegranate
  • Classic/ Natural
  • Apple
  • Peach
  • Mixed Fruit
  • Coffee/Cocoa
  • Others (vanilla, tea, etc.)

By Packaging, Global Non-alcoholic Malt Beverages is segmented as:

  • Bottles
  • Cans
  • Liquid Cartons

By Distribution Channel, Global Non-alcoholic Malt Beverages is segmented as:

  • Direct
  • Indirect
  • Hypermarkets/Supermarkets
  • Specialty Stores
  • Convenience Stores
  • Discount Stores
  • Independent Retailers
  • Online Retailers

By Region, Global Non-alcoholic Malt Beverages is segmented as follows:

  • 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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Future Market Insights Inc.
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Investing in Gut Health: Probiotic Ingredients Market Poised to Reach US$ 9,734.8 Million by 2033 with 6.4% CAGR | FMI Projection

Probiotic Ingredients Market
Probiotic Ingredients Market

The global probiotic ingredients market size is expected to reach a valuation of US$ 9,734.8 million by 2033. The sales of probiotic ingredients are likely to grow at an above-average CAGR of 6.4% from 2023 to 2033. The market is expected to experience significant growth in the forecast period, driven by increasing health awareness and the rising demand for functional foods.

The market is witnessing a shift towards natural and healthy products, which is driving the demand for probiotic ingredients. In addition, the increasing use of probiotics in dietary supplements, animal feed, and pharmaceuticals is expected to propel market growth further. The increasing number of product launches and partnerships between manufacturers and distributors are also contributing to market growth. However, the high cost of production and lack of standardization in labeling regulations may hamper the growth of the market in the coming years.

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Recent advancements in technology have allowed for more research on gut flora and the potential of probiotics to improve metabolic and psychological conditions, leading to the expansion of probiotics into new indication areas. Probiotic supplements offer a modern-day solution to these critical issues encountered by females. Manufacturers and marketers have introduced several probiotic supplements targeting females, responding to their needs. These developments are expected to bolster the global market for probiotic ingredients over the forecast period.

Consumption of a probiotic diet after antibiotic treatment results in the expansion of helpful microbes, which are likely to strengthen immunity and protect the body from further illnesses during the recovery stage. The diverse types of probiotic ingredients and supplements available in the market are driving its growth, catering to the varied needs of consumers. The unique types of probiotic ingredients and supplements such as probioslim, florastor, and align are gaining popularity due to their effective results in aiding in the recovery process.

Key Takeaways from the Probiotic Ingredients Market:

  • The bacterial probiotic ingredients segment is expected to record 5.6% CAGR from 2023 to 2033, becoming the leading product type.
  • Dietary supplements are predicted to increase at the fastest rate among end-use segments, with a CAGR of 6.5% from 2023 to 2033.
  • The probiotic ingredients industry in the United States is predicted to grow at a 5.9% CAGR from 2023 to 2033, with a market value of US$ 1,288.7 million.
  • The probiotic ingredients industry in the United Kingdom is estimated to be valued at US$ 805.4 million by 2033.
  • By 2033, China’s probiotic ingredients industry is expected to be worth US$ 735.0 million.
  • By 2033, Germany’s probiotic ingredients industry is estimated to be worth US$ 644.3 million.
  • The probiotic ingredients industry in Spain is expected to be worth US$ 483.3 million by 2033.

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Who is Winning?

The probiotic ingredients industry is highly competitive and fragmented, with numerous players operating in the market. Some of the major companies operating in the market include DuPont Nutrition & Health, Chr. Hansen Holding A/S, Lallemand Inc., Kerry Group Plc, and Koninklijke DSM N.V. These companies are focusing on developing new products and technologies to gain a competitive edge in the market.

Apart from the major players, there are several small and medium-sized enterprises operating in the market, which are primarily focused on niche applications. These players are focused on developing innovative products and applications to cater to changing consumer needs. Additionally, there are several regional players operating in the market, which are focused on catering to the specific needs of the local market.

The market players are adopting various strategies to gain a competitive edge in the market. Some of the common strategies adopted by the companies include mergers and acquisitions, partnerships, collaborations, and joint ventures. These strategies are aimed at expanding their product offerings and enhancing their market presence. Additionally, companies are also focused on investing in research and development activities to develop new and innovative products.

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Key Segments

By Product Type:

  • Bacterial
    • Lactobacillus
    • Bacillus
    • Enterococcus
    • Bifidobacterium
    • Streptococcus
    • Others
  • Yeast
    • Saccharomyces Cerevisiae
    • Saccharomyces Boulardii

By End Use:

  • Food & Beverages Processing
    • Bakery & Confectionery
    • Breakfast Solutions
    • Cultured Dairy Products
    • Ice Cream & Frozen Desserts
    • Snacks & Bars
    • Infant Nutrition
    • Beverages & Dairy Drinks
  • Dietary Supplements
    • Immune Health
    • Gut & Digestive Health
    • Women’s Health
  • Personal Care & Cosmetics
  • Animal Feed

By End Product Form:

  • Powder
  • Suspension
  • Granule
  • Capsule
  • Stick Pack
  • Tablet/Chewable
  • Gel

Region:

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • Oceania
  • Middle East & Africa

About Future Market Insights (FMI)

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

 Contact Us:

Nandini Singh Sawlani
Future Market Insights Inc.
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Polyurethane Resins Paints and Coatings Market Poised for US$ 52.46 Billion Growth by 2032: Fueling Residential & Commercial Construction

 

The polyurethane resins paints and coatings market exhibited significant growth, reaching a valuation of US$ 33,786.16 million in 2022, and is projected to maintain a steady compound annual growth rate (CAGR) of 4.5% throughout the forecast period. Anticipated to surge in value to US$ 52,468.87 million by 2032, this market’s expansion underscores the increasing demand for polyurethane-based solutions in the paints and coatings industry.

Polyurethane resins have emerged as a significant player in the global paints and coatings market, offering a versatile and durable solution for various applications. These resins are synthetic materials derived from the reaction of polyols and diisocyanates, creating a polymer with excellent adhesion, flexibility, and chemical resistance. Polyurethane resins paints and coatings find extensive use in industries such as automotive, construction, aerospace, and furniture, among others.

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Key Drivers of Polyurethane Resins Paints and Coatings Market:

  1. Durability and Performance: One of the primary reasons for the growing popularity of polyurethane resins is their exceptional durability and high-performance characteristics. These coatings provide robust protection against abrasion, chemicals, and harsh weather conditions, ensuring a longer lifespan for the coated surfaces.
  2. Versatility in Applications: Polyurethane resins can be formulated to meet specific requirements, making them suitable for a wide range of applications. From automotive finishes to industrial coatings and architectural paints, the versatility of polyurethane resins contributes to their widespread adoption across various industries.
  3. Environmental Regulations and Sustainability: With an increasing focus on environmental regulations and sustainable practices, polyurethane resins manufacturers have developed formulations that are low in volatile organic compounds (VOCs) and hazardous air pollutants. This aligns with global efforts to reduce environmental impact and adhere to stringent regulations.
  4. Rising Construction Activities: The construction industry, a major consumer of paints and coatings, has witnessed significant growth globally. Polyurethane resins, with their ability to provide weather-resistant and durable finishes, are increasingly being utilized in architectural coatings for both residential and commercial construction projects.
  5. Automotive Sector Growth: The automotive industry demands coatings that not only enhance aesthetics but also provide protection against harsh environmental conditions. Polyurethane resins are preferred for automotive coatings due to their ability to withstand UV radiation, chemicals, and mechanical stress, contributing to the growth of the market.

Top Key Players in the Polyurethane Resins Paints and Coatings Market

  • BASF SE
  • Sherwin Williams
  • Henkel
  • Lubrizol
  • DSM
  • Arkema

Future Outlook:

The outlook for the polyurethane resins paints and coatings market remains positive, driven by factors such as technological advancements, infrastructure development projects, and the growing demand for sustainable coatings solutions. As manufacturers continue to innovate and diversify their product portfolios, the market is expected to witness further growth and evolution in the coming years.

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Regional Outlook:

The market for polyurethane resins paints and coatings is geographically diverse, with North America, Europe, Asia-Pacific, and Latin America being key regions. The Asia-Pacific region, driven by rapid industrialization and infrastructure development, is expected to witness substantial growth in demand.

Polyurethane Resins Paints and Coatings Market: Challenges

Despite the promising growth prospects, the polyurethane resins paints and coatings market faces certain challenges, including:

  1. Volatility in Raw Material Prices: Fluctuations in the prices of key raw materials, such as isocyanates and polyols, can impact the profitability of manufacturers and influence pricing strategies in the market.
  2. Stringent Regulatory Landscape: Compliance with stringent environmental regulations regarding VOC emissions, hazardous substances, and waste disposal poses challenges for industry players, necessitating investments in research and development to develop eco-friendly formulations.
  3. Intense Competition: The market is characterized by intense competition, with numerous players vying for market share through product differentiation, strategic partnerships, and expansion into new geographic regions.

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:       

Nandini Singh Sawlani  

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Vegan Yogurt Market Projects Remarkable Growth to US$ 11.7 Billion by 2033

The vegan yogurt market is anticipated to thrive at a steady CAGR of 5.8% between 2023 and 2033. The market is anticipated to cross a valuation of US$ 11.7 billion by 2033, while it is valued at US$ 6.7 billion in 2023.

  • The rising vegan movement all over the world is contributing to the higher production and sales of vegan consumables, such as yogurt and milk. These products are there to replace dairy products.
  • Vegan yogurt’s popularity with its health benefits provided by higher fiber, calcium, and protein levels is flourishing in its sales.
  • A big chunk of the urban population that doesn’t follow a vegan diet also tries vegan Yogurt because of its taste and health benefits. Vegan yogurt is treated as a super food that is provided in some urban settings.
  • A section of lactose intolerant people also consume vegan yogurt to fulfill their nutritional requirements, while not comprising their vegan diet.
  • Social media and internet trends around veganism are pushing the masses to try the vegan diet once. Furthermore, the exceptional campaigns and top-notch advertising has also helped the vegan yogurt companies in selling products.

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Key Points

  1. The United States market is another significant market. The market is anticipated to cross a value of US$ 803.6 million by 2033. The regional market is expected to thrive at a CAGR of 5.4% between 2023 and 2033. The growth is attributed to rising veganism and anti-diary movements.
  2. The China vegan yogurt market leads in terms of CAGR and market share. It is expected to thrive at a leading CAGR of 6.9% during the forecast period. The market is likely to reach a value of US$ 5.6 billion by 2033. Growing demand for vegan products, along with the increased lactose intolerant population, is flourishing the sales of vegan yogurt in China
  3. Almond yogurt is likely to thrive in the product category due to its easy availability and high nutritional value. It is expected to thrive at a CAGR of 6.6% during the forecast period.
  4. The household segment tops the end-use category with a CAGR of 3.8% between 2023 and 2033. The growth is attributed to its benefits in the daily diet through increased consumption.

Competitive Landscape

The key competitors focus on producing high nutritional value, along with the high plant-based content in the yogurt. Key competitors also merge, acquire, and partner with other companies to increase the supply chain and distribution channel. The key players in the market are Hain Celestial, General Mills Inc., Danone, Stonyfield Farm, Inc., and KaTech.

  • Hain Celestial’s almond dream and coconut dream non-dairy yogurts get non-GMO project verification. These vegan yogurts contain high nutritional value, along with live and active cultures.
  • General Mills Inc. has introduced new Yoplait Parfait pro-dairy-free yogurt that comes in a pre-perforated bulk bag, with retail sales growing 14% every year.

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Key Segments

By Product Type:

  • Soy Milk Yogurt
  • Coconut Milk Yogurt
  • Almond Milk Yogurt
  • Rice Milk Yogurt

By Flavor:

  • Chocolate
  • Strawberry
  • Banana
  • Pineapple
  • Mango
  • Lemonade
  • Peach

By End Use:

  • HORECA
  • Household

By Sales Channel:

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

By Region:

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

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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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Tape Market Dynamics: Analyzing the Impact of Building and Construction Sector Expansion

Tapes Market
Tapes Market

The tapes market is expected to experience significant growth, with a projected value of US$ 78.5 billion in 2023, increasing to US$ 126.6 billion by 2033.

The building & construction sector is showcasing impressive growth in Asia Pacific. The sector includes industrial construction, real estate, and repair & maintenance along with other industries. Expansion of the building and construction sector, especially as developing countries invest increasingly towards infrastructural development is likely to augur well for the tapes market.

In response to surging building and construction activities worldwide, the demand for masking tapes is on the rise. This is expected to drive the sales of tapes around the world over the coming years.

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  • China holds a leading position in the market, accounting for nearly one-fifth of the global value share, with increasing demand for protective and secure packaging during import and export.
  • The Asia Pacific region, driven by the growing building and construction sector, shows impressive growth potential for the tapes market.
  • The demand for pressure-sensitive tapes is high due to their unique characteristics, such as remaining viscous and sticky, allowing them to adhere to surfaces even when wet.
  • The wide acceptability and increasing applications of pressure-sensitive tapes, particularly in the Asia Pacific region, contribute to their strong demand and overall market growth.

Pressure-sensitive tapes dominate the global tapes market, holding a share of nearly 62.03%. These tapes create strong adhesive bonds between different materials and are in high demand across various industries.

The building and construction industry is the leading end-user of tapes and is expected to maintain its dominance throughout the forecast period. The automotive sector also presents significant opportunities for double-sided tape manufacturers, with expected growth at a CAGR of 6.1% through 2033.

China is a key player in the tapes market, benefiting from economies of scale, cheap labor, and technological advancements. The region holds almost 50% of the global tapes market, and collaborations between companies and the Global Tape Forum are driving further growth.

Germany, known for its innovation and sustainable development, represents 3.7% of the European tapes market and shows potential for significant growth, particularly in the automotive sector.

North America is a key contributor to the tapes market, with a strong presence across industries such as packaging, construction, automotive, and electronics. Technological advancements, infrastructure development, and the presence of key tape manufacturers contribute to North America’s prominence in the market.

India is also an influential market, experiencing a growth rate of 6.7%. The country’s expanding industrial sectors, infrastructure development, and entry of leading tape manufacturers contribute to the rising demand for tapes in India.

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Recent Developments

Tiarco, LLC, a wholly-owned subsidiary of Textile Rubber and Chemical Company, Inc., purchased H.B. Fuller Company’s surfactants, thickeners, and dispersants business in July 2019 for US$ 71 million. The revenues from the transaction may be used to sharpen the company’s emphasis on highly specialized adhesive solutions.

Berry Global paid US$ 6.5 billion to RPC Group Plc in July 2019. Berry Global became a leading global supplier of value-added protective solutions and one of the leading plastic packaging firms as a result of the purchase.

Tesa’s subsidiary plant Sparta LLC completed a US$ 20 million expansion of its production plant in April 2018. It began production of strapping tapes and acrylic adhesives to improve its position in North America.

Key Segments Covered in the Market Report

By Tape Type:

  • Pressure-Sensitive Tapes
  • Masking Tapes
  • Duct Tapes
  • Filament Tapes

By Material Type:

  • Paper
  • Plastic
  • Metal Foil

By End Use:

  • Automotive
  • Electric & Electronics
  • Building & Construction
  • Pharmaceutical & Medical Devices
  • Food & Beverages
  • Defense/Aerospace
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • The Middle East & Africa (MEA)

About Future Market Insights Inc. (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:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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Pump Condiment Dispensers Market Soars to US$ 1354.3 million by 2033

Global pump condiment dispensers market to reach a valuation of US$ 754.2 million in 2023. Future Market Insights reports predict that the market will likely grow at a 6% CAGR from 2023 to 2033, anticipated to be valued at US$ 1354.3 million by the end of 2033.

Increased desire for convenient food products that would enhance the taste buds of a person of the particular food item, the market for condiments has experienced an increase in demand. A key market driver that boosts the market growth is the adoption of different eating behavior across the regions. For example, a dramatic increase is found in both the United States and the United Kingdom in the overall number of vegans as plant-based diets are gaining popularity.

Demand for condiments has not risen in food and beverage but also in pharmaceutical companies or personal care products as nowadays people are more prone towards using condiments based items present in the ingredients while making pharmaceutical products or personal care products, for example- pepper is not only be used in food and beverage but also in cosmetics or pharmaceuticals, like, Capsaicin cream- has the presence of pepper which helps in reducing the pain occurring mainly due to arthritis.

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Projections in fluctuating prices of the raw materials that are used to prepare condiments will constrain market expansion throughout the anticipated years as it is expected that rising consumer aversion to condiments may be due to the high carbohydrate, sugar or salt content in most condiments may hinder market expansion.

Key Takeaways from the Pump Condiment Dispensers Market Report:

  • Sales of the global pump condiment dispensers market expanded at a CAGR of 5.79% from 2018 to 2022
  • The Asia Pacific market for global pump condiment dispensers market is likely to grow share of 38%
  • The North American market for global pump condiment dispensers market is likely to expand at 77%.
  • Hospitality industry is said to have a lucrative position in the global pump condiments dispensers market.
  • Multi-pump dispensers are said to dominate the market of global pump condiment dispensers.
  • Hospitality industry holds a share of 44% in the global pumps condiment and dispensers market.

Competitive Landscape

Some of the prominent players in the global market are-

  • Server Products
  • Gold Medal Products Co.
  • San Jamar
  • Nemco Food Equipment
  • Vollrath
  • Carlisle FoodService Products
  • Dispense-Rite
  • Rosseto
  • Zevro
  • Tablecraft Products Company

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

  • In January 2023, Aptar came up with its very first certified recycled plastic beauty packaging approved by International Sustainability and Carbon Certification (ISCC).
  • In October 2022, ZHUHAI MAXTOR ENTERPRISE CO. LTD launched three products a portable spray packaging, a lotion pump, and a pourer. Lotion pump is a large output that gives out a dosage of 8-9g each time. Its features include a long spray time, atomization effect, and easy operation for cleaning, disinfection, gardening, and floriculture. Its portable spray packaging is small and stylish and is easy to carry in bags and pockets.

Dehydrated Vegetables Market Set to Reach US$ 159.6 Billion by 2033 with 8% CAGR – Rising Demand for Convenient Foods

Dehydrated Vegetables Market
Dehydrated Vegetables Market

The global dehydrated vegetables market was estimated to be worth US$ 72.7 billion in 2022, and by 2033, it is anticipated to be worth US$ 159.6 billion. During the projected period of 2023 to 2033, the market is anticipated to grow at a CAGR of 8%.

Foods prepared with a longer shelf life include those that have been dehydrated. This is the reason why dehydrated vegetables are swiftly gaining popularity as a snack option. Due to rising consumer demand, companies are adopting technology to produce dehydrated vegetables that can be consumed for a longer period of time, which is causing the worldwide market to grow in terms of sales.

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Regulations in certain countries require clean label labeling with clear information on the various ingredients, source, as well as processing methods used in order to increase transparency across the entire food chain. Businesses are working harder to promote a positive view of their products in the marketplace, which is accelerating the global growth of the dehydrated vegetables market.

The increased uncertainty in raw material availability, production, and pricing as a result of seasonal swings is one of the key reasons why consumers opt to use dehydrated veggies. Due to the year-round rise in demand for products made with seasonal ingredients, the demand for dehydrated vegetables is rising.

These dehydrated vegetables only require a small amount of shelf space while maintaining 100% of the benefits of fresh vegetables. This makes it simpler for food firms to move items containing food from one location to another. This ease of shipping is expected to lead to an increase in the dehydrated vegetables market sales.

Key Takeaways from the Market Study

  • Global dehydrated vegetables market is expected to be valued at US$ 75.6 billion by 2023
  • From 2018 to 2022, the market demand expanded at a CAGR of 2.5%
  • North America is expected to acquire the leading market share, with the United States acquiring over 8% CAGR from 2023 to 2033.
  • By product type, the bean segment is expected to constitute a 41.2% market share in 2023.
  • On the basis of drying method, the vacuum segment is expected a 24.6% share in 2023.

“Owing to the increased shelf life along with the high nutritious value and ease of storage, these dehydrated vegetables are gaining traction.” remarks an FMI analyst.

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Competitive Landscape

Prominent players in the dehydrated vegetables market are:

  • Fresno Cooperative Raisin Growers Inc.
  • Olam International
  • Dole Food Company
  • Naturex S.A.
  • Symrise AG
  • Mercer Foods, LLC
  • Chengde Shenli Food Co., Ltd.
  • Vkc Nuts Private Limited
  • Viva Bella Orchards Inc.
  • Kiantama
  • Sun-Maid Growers of California
  • Sunshine Raisin Corporation
  • Traina Dried Vegetable Inc.
  • Lion Raisins Inc.

Key Product Offerings:

  • Dehydrated food items are offered by Harmony House Foods. Their finest goods have a shelf life of between twelve and twenty-four months.
  • Their items are of a high caliber and are well-kept. Fruits, dehydrated vegetables, soup bases, legumes, vegetable proteins, and many more items are among their offerings. Their fresh, organic, and GMO-free dried vegetable and fruit products allow clients ease in their health.

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Key Segments Profiled in the Global Dehydrated Vegetables Market

 

By Product Type:

  • Carrot
  • Onions
  • Potatoes
  • Broccoli
  • Beans
  • Peas
  • Cabbage
  • Mushrooms
  • Tomatoes

By Form:

  • Minced & Chopped
  • Powder & Granules
  • Flakes
  • Slice & Cubes
  • Others

By Nature:

  • Organic
  • Conventional

By End Use:

  • Food Manufacturers
  • Foodservice
  • Retail

By Drying Method:

  • Air Drying
  • Spray Drying
  • Freeze Drying
  • Drum Drying
  • Vacuum Drying

By Distribution Channel:

  • Store-based retailing
  • Hypermarkets/ Supermarkets
  • Convenience Stores
  • Food and Drink Specialty Stores
  • Online retail

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:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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