Market Research Blog – Page 989 – New Product Development

Vegan Steaks Market to Surpass USD 1.1 Billion by 2033, Reports Future Market Insights

Vegan Steaks Market

The global vegan steak market net worth is estimated to be around USD 598.6 Mn in 2023 and is anticipated to register a CAGR of 7.3% from 2023 to 2033. A report on the vegan steak market predicts the overall valuation of the market to reach up to USD 1,129.6 Mn by the year 2033.

Meat has long been an important source of nutrients in developed or Western Europe countries making a strong market for vegan steaks for sale as well. On the other hand, there has recently been a rise in demand for traditional protein sources in eastern economies.

As the trend for veganism spreads across these countries, the demand for vegan steak along with other plant based protein alternatives is rising exponentially in the global as well local markets. As people are willing to invest time in learning more about these new food alternatives, vegan steak is anticipated to garner more new consumers in the future.

Key Takeaways from the Vegan Steak Market Study

The US vegan steak market size was estimated to be around US$ 168.5 Mn in the previous year. As per the market analysis report, this regional market contributes to around 30.2% of the overall sales of vegan steak achieved around the world.
Germany is the second leading market in the demand for vegan steaks which contributes to around 16.9% of the overall sales. In the European region, it is the largest market that generated a revenue of US$ 94.3 Mn in the year 2022.
In the Asia Pacific region, Japan is the dominant market in the production and consumption of several plant based food products. As per the market statistics report for the year 2022, this market for vegan steaks in Japan reached a market size of US$ 30.7 Mn.
Contrarily, the United Kingdom is the fastest-growing nation in terms of accepting vegan meat steak alternatives by following a CAGR of 8.5%. Such a higher growth rate is predicted to take the vegan steak market share of the UK from US$ 52 Mn in 2023 to US$ 126.5 Mn by 2033.
On the other hand, vegan food product businesses in China are surfacing as staunch competitors in the global market in these years. Moreover, the overall market for vegan steaks in China is projected to register a higher CAGR OF 6% from 2023 to 2033 concluding at a total value of US$ 97.4 Mn.

Competitive Landscape for the Vegan Steak Market

Danone S.A, The Archer Daniels Midland Company, Daiya Foods Inc., Ripple Foods Inc., Impossible Foods Inc., Eat Just, Inc., Beyond Meat, Inc., Amy’s Kitchen, Tofutti Brands Inc., Earth’s Own Food Company Inc., Gardein, and Field Roast are some of the major players in the global vegan steak market.

The United States is the most lucrative region having a lot of demand for all types of plant based unconventional food items. So a lot of vegan steak market key players are located in this country and tend to monopolize the said market with better product knowledge and higher production capacity. However, the growing focus of governments in other countries, in light of sustainable development commitments, is expected to support the emergence of new market players and compete at a global Level.

Dive deeper—click here for the comprehensive report.

Key Segments

By Source:

Soy
Almond
Wheat
Others

By Distribution Channel:

Supermarkets/Hypermarkets
Convenience Stores
Specialty Stores
Online Platforms
Others

By End User:

Packaged Food Industries
Hotels and Restaurants
Retail Food Shops
Domestic Consumers
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia and Pacific
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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Molasses Market to Hit USD 23.51 Billion by 2033 with a 7% CAGR Growth, Predicts FMI

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By 2033, molasses market share is expected to increase from USD 11,952.75 million to USD 23,512.86 million. This is anticipated to increase molasses’ market share and result in a CAGR of 7.0% between 2023 and 2033.

Molasses, a thick syrup by-product of sugarcane or sugar beet juice extraction, is gaining popularity in various food and beverage applications. The increasing demand for natural sweeteners and the rising health consciousness among consumers are the primary drivers for the growth of the molasses market.

Molasses has several health benefits that make it an attractive alternative to other sweeteners. It is rich in vitamins, minerals, and antioxidants, including iron, calcium, magnesium, and vitamins B6 and B12. It is also a good source of energy and has a low glycemic index, making it a suitable sweetener for diabetics.

The food and beverage industry is the largest end-user of molasses, with applications in the production of baked goods, sauces, condiments, and confectionery. The increasing demand for natural sweeteners and the desire to avoid high fructose corn syrup and artificial sweeteners are driving the demand for molasses in the food and beverage industry.

The use of molasses in animal feed and pet food is also increasing. Molasses is a valuable source of energy and nutrients for livestock and pets, and is also used to improve the palatability of feed. The growing demand for animal feed and pet food is expected to drive the growth of the molasses market in the animal feed and pet food industries.

In addition, molasses is also used as a raw material in the production of biofuels. The increasing demand for biofuels and the need for renewable energy sources are driving the demand for molasses in the biofuel industry. The use of molasses in the production of ethanol and other biofuels is expected to increase in the coming years, driving the growth of the molasses market.

Geographically, the molasses market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Asia Pacific is the largest market for molasses, with a significant presence of sugarcane and sugar beet producers in countries such as India, China, and Australia. The increasing demand for natural sweeteners and the growing food and beverage industry in the region are driving the growth of the molasses market in Asia Pacific.

In North America, the United States is the largest market for molasses, driven by the increasing demand for natural sweeteners and the growth of the food and beverage industry. Europe is also a significant market for molasses, with a large presence of sugar beet producers in countries such as France and Germany. The increasing demand for natural sweeteners and the growth of the food and beverage industry in the region are driving the growth of the molasses market in Europe.

In South America, countries such as Brazil and Argentina are major producers of molasses, driven by the large sugarcane industry in the region. The increasing demand for natural sweeteners and the growth of the food and beverage industry in the region are driving the growth of the molasses market in South America.

Access the full report for detailed market trends.

Competitive Landscape

Crosby Molasses Co Ltd. (Canada)
The Archer Daniels Midland Company (US)
Michigan Sugar Company (US)
B&G Foods Inc.(US)
Cora Texas Manufacturing Company, LLC (US)
Good Food Inc. (US)
E D & F Man Holdings Limited (UK)
B&G Foods, Inc. (US)
Malt Products Corporation (US)
Westway Feed Products LLC (US)
Sweet Harvest Foods Inc. (US)
Domino Specialty Ingredients (US)

Molasses Market Segmentation:

By Source:

Sugarcane
Sugar beet

By Type:

Regular Molasses
Blackstrap Molasses

By Nature:

Organic
Conventional

By End Use:

Industrial
Food and Beverages
Biofuel
Animal Feed
Commercial
Household

By Sales Channel:

Direct Sales
Indirect Sales
Modern Trade
Convenience Stores
Online Stores

By Region:

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

USA Food Premix Market to Reach USD 1.28 Billion by 2033 with an 8.7% CAGR

According to a new analysis by Future Market Insights, the USA food premix market is projected to reach USD 556 million by 2023. Sales in the sector are expected to grow at a CAGR of 8.7% from 2023 to 2033, culminating in a market valuation of USD 1,278 million by the end of 2033.

Key drivers of the USA food premix market include the growing trend of food fortification, a rise in deficiency-related diseases, and increased consumption of dietary supplements. Additionally, the expanding use of food premixes in infant nutrition, food and beverages, and over-the-counter pharmaceuticals is expected to further boost demand for food premixes across the country during the forecast period.

Food premix ingredients have proven to be a better option to increase intake of essential nutrients required for proper functioning of body, enhancing the immune system, and reducing development of diseases.

The increased use of food premixes in dietary supplements, food and beverages, baby nutrition, and OTC drugs—thanks to their health benefits and high nutritional value—is expected to significantly drive growth in the USA food premix industry during the forecast period.

Additionally, the availability of customized solutions is another crucial factor boosting food premix sales across the USA. Leading manufacturers in the sector are concentrating on offering tailored solutions to end users, aiming to enhance their revenue share.

In the United States, food fortification is commonly practiced using staple foods like wheat and corn, which serve as effective carriers for ingredients such as folic acid, vitamin A, vitamin D, iron, and zinc. The rising consumer demand for fortified foods is expected to create new revenue opportunities for manufacturers.

The well-established food and beverage sector in the U.S. supports the demand for nutritious foods. However, the increasing cost of food premix ingredients poses a challenge, making it essential to maintain competitive pricing to capture a broader market share.

Additionally, the growing popularity of food premixes in bone health supplements and weight management nutrition is anticipated to play a significant role in driving market expansion across the USA over the next decade.

Unlock the complete analysis—get the full report now.

Key Takeaways from Market Study

The United States food premix market size is set to reach US$ 556 million by 2023.
Food premix sales across the USA are forecast to surge at 8.7% CAGR through 2033.
By form, powdered food premixes segment holds 74% share of the United States food premix market.
Based on ingredient type, the vitamins segment accounts for a share of 29% of the market.
By function, with around 19% share, dietary supplements segment leads the United States food premix industry.

Competitive Landscape

Key manufacturers of food premixes in the USA are Glanbia plc, Prinova, Archer Daniels Midland Company, Cargill Incorporated, General Mills, Watson Inc., Austrade Inc., Farbest Brands, Danone, Bunge Limited, Fenchem Biotek Ltd., Corbion N.V., Jubilant Life Sciences, SternVitamin GmbH, and LycoRed Ltd.

The USA food premix industry is highly competitive due to the involvement of both major and smaller players. To gain a competitive edge, companies are employing a variety of strategies, including new product launches, mergers, partnerships, collaborations, and acquisitions.

Recent Developments:

In January 2021, a new premix animal nutrition facility was opened in Ohio by Cargill.
In February 2019, a USA-based manufacturer and supplier of premix, bakery ingredients, and other solutions, Watson Inc., was acquired by Glanbia Nutritionals.
In September 2021, Prinova acquired The Ingredient House, LLC (TIH).

The United States Food Premix Industry Segmentation

By Form:

Powder
Liquid

By Ingredient Type:

Vitamins
Minerals
Nucleotides
Amino Acids

By Application:

Food & Beverages
- Medical Nutrition
- Fortified Dairy & Beverages
- Bakery Products
- Sports Nutrition
Early Life Nutrition/ Baby Food
Dietary Supplements
Pharma OTC Drugs
Nutritional Improvement Programs

By Function:

Bone Health
Immunity
Digestion
Energy
Heart Health
Weight Management
Vision Health
Brain Health & Memory

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Europe Pet Food Market: Growth Forecast and Opportunities to 2033

Pet Food Market

According to Future Market Insights’ latest report, the Europe pet food market is anticipated to reach USD 36.4 billion by 2033. Overall pet food sales across Europe are set to increase at a moderate CAGR of 5.3% over the forecast period of 2023 and 2033. One of the key factors facilitating the pet food demand in the region is the growing trend of pet humanization.

With the growing adoption rate of pets, pet parents are becoming increasingly conscious regarding the health of their companion animals. Subsequently, the penetration of social media platforms is also aiding in the rising awareness of animal cruelty.

Millennials across Europe are inclined towards adopting shelter animals and are fighting for animal rights. Consequently, governments across the region are imposing several stringent regulations favorable for animal rights.

As per the study, over the years, there has been a sharp increase in the adoption of dogs and cats across European countries such as the United Kingdom and Germany. For instance, as per the UK Pet Food, around 34% of households across the United Kingdom had dogs.

Similarly, about 28% of households had cats. High adoption of these pets is eventually elevating demand for pet food across Europe and the trend is expected to continue during the projection period.

Rising focus on pet health and growing knowledge of the advantages of protein intake for animals are expected to boost pet food sales across Europe during the projection period.

Pet owners are looking for food products that have higher nutritional value. They are opting for various types of pet foods to provide daily nutrition to their pets as well as improve their immune systems.

Key pet food manufacturing companies across Europe are launching new fortified pet food to meet growing demand for healthy foods. FMI predicts that Europe-based pet food manufacturers will benefit from growing consumer interest in high nutritional and healthy pet food products.

However, significant capital expenditures necessary for pet food production, penetration of counterfeit per food products, and strict regulatory frameworks are negatively influencing the market. Backed by these factors, the pet food demand across Europe is set to surpass a valuation of USD 61.2 billion by the end of 2033.

Download the full report for in-depth insights.

Key Takeaways from Market Study

Europe’s pet food market is estimated to be valued at US$ 36.4 billion in 2023.
By nature, the conventional segment holds a significant market share of 67.0% of the Europe pet food market.
By product type, kibble/dry segment holds a considerable market share of 25.0% of the Europe pet food market.
In terms of pet type, dog segment holds a share of 55.0% in the Europe pet food industry.
The United Kingdom pet food market is poised to exhibit a steady growth rate during the next ten years.
With increasing pet adoption rates, demand for pet food across Germany is expected to rise at a moderate CAGR between 2023 and 2033.

“Key players are making significant investments in research and development to introduce new products with eco-friendly packaging to strengthen their presence across Europe”, says a lead analyst at Future Market Insights.

Who is Winning?

Leading companies offering pet food include Mars Incorporated, Evanger’s Dog & Cat Food Company, Inc., Mc Adams Pet Foods Limited, Nestle Purina Pet Care, Affinity Petcare SA, Symrise, Roll Over Pet Food Ltd., The Pet Food Market, Canagan Group, Mera Pet Food Family, and Wagg Foods Ltd., Sabre Pet Food.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of Pet Food presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study incorporates compelling insights into the Europe Pet Food Market based on Product Type (Kibble/Dry, Dehydrated Food, Freeze Dried Food, Freeze Dried Raw, Wet Food, Frozen, Raw Food, Powder, and Treats & Chews), Nature (Organic, Mono protein and Conventional), Distribution Channel (Store-based Retailing, Online Retailers), Source (Animal derived, Plant derived, and insect-derived), Pet Type (Cat, Dog, Birds, and Others(Rabbits, Hamster, etc.)), and Packaging (Pouches, Bags, Folding Cartons, Tubs & Cups, and Can) across various European countries.

About the Food & Beverage Division at Future Market Insights

Expert analysis, actionable insights, and strategic recommendations- the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Global Industrial Chocolate Market to Reach USD 57 Billion by 2023 with a 4.4% CAGR

In 2023, the global industrial chocolate market is projected to reach USD 57 billion, with an annual growth rate of 4.4%. By 2033, the market is anticipated to grow to USD 87.68 billion.

In the food and beverage industry, heightened awareness of food brands is prompting a resolution. This awareness is coupled with a stronger sense of responsibility towards sourcing, production practices, and the treatment of stakeholders involved. There is a rising emphasis on creating unique experiences, which is driving companies to introduce innovative products.

The environmental costs and ethical concerns associated with chocolate are increasing the demand for certified products. Vendors are meeting this demand through diverse approaches, such as multisensory and shared experiences. Additionally, growing regulations and legislation are influencing how food products are sourced and delivered.

To address the rapidly changing needs of consumers, market players are innovating continuously. This innovation aims to enhance consumer satisfaction and health while ensuring responsible practices in cacao bean cultivation and chocolate production.

Key Takeaways from Market Study

Cocoa butter is expected to dominate the total industrial chocolate market in 2023 with a CAGR of 3.5%.
The United States, a leading industrial chocolate market, is expected to reach US$ 15.2 billion.

Competitive Landscape

There is a high concentration of industrial chocolate in the global market, with over 90% of total revenues accounted for by the top four players. Leading vendors are expanding their capacity into cocoa-producing countries to stay better protected from unbalanced climatic and economic conditions in the market.

As companies focus more on enhancing discovery through a variety of cultural and novelty influences and refine the products they offer, they may be able to attract new consumers around the world.

Key players operating in the global industrial chocolate market include:

Alpezzi Chocolate SA de CV
Barry Callebaut AG
Cargill Inc.
CEMOI Group
Chocoladefabriken Lindt and Sprungli AG
Clasen Quality Coatings Inc.
Davis Chocolate
Ferrero International S.A.
Foleys Candies LP
Guittard Chocolate Co.
IRCA Spa
Lotus Chocolate Co. Ltd.
Mars Inc.
Meiji Holdings Co. Ltd.
Mondelez International Inc.

Recent Developments:

In June 2022, PRONATEC, a supplier of fair-trade, eco-friendly ingredients, opened its new factory to process 100% organic cocoa in Beringen, Switzerland. In addition to producing organic cocoa mass, cocoa butter, and cocoa powder, this facility is the first of its kind in Switzerland. Around 15,000 tons of cocoa beans can be processed each year by small cooperatives.
It was announced in February 2022 that a Malaysian cocoa manufacturer had signed a contract with Clegg Food Projects to convert a former Philips Avent facility into a cocoa and chocolate factory.
A partnership with a local manufacturer in India in 2020 resulted in Cargill opening its first chocolate manufacturing facility in mid-2021. The facility produced 10,000 tons of chocolate compounds in its first year.

Gain Exclusive Access to Growth Strategies in Industrial Chocolate Market Grab Your Essential Report

Market Segmentation

By Product, the Industrial Chocolate Market is Segmented as:

Cocoa Butter
Cocoa Liquor
Cocoa Powder

By Application, the Industrial Chocolate Market is Segmented as:

Bakery
Ice cream and Frozen Dessert
Dairy
Cereals
Others

By Type, the Industrial Chocolate Market is Segmented as:

Confectionery
Cocoa and Other Products

By Region, Industrial Chocolate Market is Segmented as:

North America
Latin America
Europe
The Middle East and Africa
East AsiaBottom of Form

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Carrageenan Market to Reach USD 1.5 Billion by 2033, Forecasts Future Market Insights

The worldwide sales of carrageenan were estimated to be around USD 935.9 million in 2022, in terms of value. As per the global carrageenan market survey report, it is expected to rise at a rate of 4.8% during the forecast period. By registering such a fair CAGR, the overall valuation of the market is projected to reach USD 1,567.4 million by 2033, growing from USD 980.8 million in 2023.

The growing popularity of processed and packaged foods is considered to be the main factor driving the carrageenan market worldwide. Carrageenan is a crucial component of many foods and drinks that people consume every day, rendering the carrageenan business a lucrative opportunity for many coastal countries.

Carrageenan, on the other hand, is gaining more recognition in the healthcare, beauty, and personal care sectors these days. There is a growing emphasis by governments around the world to develop their pharmaceutical sector, where carrageenan may be utilized in bulk. Given such potential, the overall supply of carrageenan, as a thickening or film-forming agent, is projected to witness rapid growth in the coming days.

Key Takeaways

The United States is figured out to have control over nearly 27% of the carrageenan produced worldwide.
China is the leading market in the Asia Pacific, as well as the significantly growing market for carrageenan production. Over the forecast years, its regional carrageenan market is poised to register a CAGR of 7.4%.
Due to the rising trend of plant-derived additives for vegan foodstuffs, the gelling agent category holds a sizeable sales share in 2022.
Upon a rising demand from fermentation industries, the stabilizer market segment based on application is predicted to expand quickly over the coming years.
The emulsifiers and binding agents segment is projected to expand as a result of ongoing attempts to phase out partly artificial emulsifiers.
Based on application, the thickening agent segment’s revenue share was nearly 40%, which was leading in 2022 and the preceding years. This is a result of the F&B as well as pharmaceutical industries’ growing desire for clean-label thickeners.
Lambda is mostly utilized as a thickener, since it cannot make a gel, unlike kappa and iota forms. While the kappa product type segment’s revenue share was significantly approaching 70% in 2022 and earlier years.

Competitive Landscape

Accel Carrageenan Corporation, Cargill, Inc., CP Kelco U.S., Inc., DuPont Nutrition & Heath, Gelymar, Green Fresh Foods (India) Pvt. Ltd., Karagen Indonesia, CV, Kerry Group PLC, Shemberg Ingredients and Gums Corporation, SiChuan Xieli Pharmaceutical Co., Ltd., TIC Gums, Inc., Ingredion Incorporated, Ashland, Ceamsa, W Hydrocolloids, Inc., Caldic B.V., Ina Food Industry Co. Ltd., PT. Gumindo Perkasa Industry, BLG, MCPI Corporation, AEP Colloid, Marcel Carrageenan, TBK Manufacturing Corporation, Prinova Group LLC, LAUTA Ltd., Aquarev Industries, Bang &Bonsomer, Agargel Industria e Comercio Ltd, Zhenpai Hydrocolloids Co., Ltd., and Tate & Lyle among others are prominent players in the global carrageenan market.

Dive deeper—click here for the comprehensive report.

Recent Developments

Cargil and Caldic signed a contract in April 2019 to develop Cargil Corporation’s supply of Carrageenan, Xanthum, and Pectin in the Nordic region. This collaboration is anticipated to expand its market penetration, while also assisting Caldic in growing its brand recognition in the region.
Known for its ability to bind water, the substance is mostly used as a viscous base ingredient in skincare products, particularly water-based cosmetics. For example, carrageenan is present in items like DreamBrands Inc.’s Natural Moisturizing Lubricant lotion and L’Oréal’s Pure-clay Glow-mask. Leading cosmetics industry players have entered the global carrageenan market, further intensifying the competition in recent years.

Key segments

By Type:

Kappa
Iota
Lambda

By Function:

Thickening Agent
Gelling Agent
Stabilizer
Other Functions

By Processing Technology:

Semi-refined
Gel Pressed
Alcohol Precipitation
Others

By End Uses:

Food & Beverages
- Bakery
- Confectionery
- Meat Products
- Dairy Products
- Sauces & Dressings
- Beverages
- Others
Personal Care & Cosmetics
Pharmaceuticals
Other End Uses

By Region

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

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Vodka Market Expected to Reach USD 68.25 Billion by 2033, Reports Future Market Insights

The vodka market has witnessed steady growth over the years, fueled by increasing consumer demand and a growing cocktail culture. The market size is influenced by factors such as changing consumer preferences, expanding urbanization, and increasing disposable incomes. Vodka consumption has become more prevalent in emerging economies, contributing to the market’s expansion.

The vodka market is anticipated to reach a value of USD 39.96 billion in 2023 and is expected to expand at a CAGR of 5.5% between 2023 and 2033. It is projected that the vodka industry would be worth USD 68.25 billion by 2033.

The use of high-end vodka cocktails has increased in developed economies, which can be the cause of this. Sales of vodka are being helped by the rising popularity of flavored vodkas including cranberry, lime, and raspberry. The rise of alcoholic beverage offline commerce is anticipated to speed up market expansion throughout the projection period.

An Increase in Demand for Premium Vodka

Global consumers today have more discriminating tastes than they did five years ago. To enhance both their overall appeal and functionality, premium vodkas go through numerous stages of distillation, setting them apart from more common variants.

The popularity of healthier alcoholic beverages, which feature a blend of natural ingredients, reduced calories, and sugar-free formulation, is being encouraged by the rise in health consciousness. Due to rising consumer interest in living a sustainable and healthy lifestyle, the premium vodka category has better possibilities, particularly in the foreign market.

As consumers continue to demand flavored, light beverages like hard seltzers, RTD vodka innovation is rising in developing nations. This is projected to fuel the expansion of the vodka market throughout the forecast period.

Access the full report for detailed market trends. https://www.futuremarketinsights.com/reports/vodka-market

Customer Preferences have Changed Favoring Alcohol-free Drinks

The vodka market expansion is anticipated to be constrained by the increasing consumer influence of craft beer and the accessibility of substitutes. The government’s stringent regulations and high taxes are preventing the global vodka industry from growing.

Despite this, the worldwide vodka industry is likely to have considerable growth throughout the forecasted period due to consumer trends and numerous developments, such as fruit-based healthy vodka. In contrast, non-alcoholic beverage substitutes are putting pressure on the vodka industry, which is challenging the market significantly.

North America has Remained the Main Market

Sales of flavored vodkas including Texas Grapefruit, Blood Orange, Bartlett Pear, and Sun-Riped Watermelon are gaining in popularity in the United States The sector is expected to develop as a result of Canada’s rising acclaim for sweet citrus flavors coupled with acidic cherry and limeade vodka flavors.

The vodka market rise is also anticipated to benefit from alcoholic beverages such as Pyat Ozar, Svedka, and Hlibny Dar. Market expansion is projected to be sparked by the Canadian government’s help in improving the premium white spirits distribution system.

To foster more innovation, broaden customer choice, and foster trade in the developing spirits industry in Canada, Marie-Claude Bibeau, Minister of Agriculture and Agri-Food, revealed in 2019 to 2020 that the compositional standard for vodka had been amended.

Key Takeaways

From 2023 to 2033, offline trading provided more than 75% of the total market revenue.
With a CAGR of 4.4% throughout the projected period, online trading is anticipated to develop the fastest.
The category for flavored vodka is anticipated to develop at the quickest rate, with a CAGR of 4.5% throughout the projected period.
With a market share of over 35% through the projection period, North America is anticipated to contribute the most to the global market.
The CAGR for the Asia Pacific vodka market is expected to be 6.4% between 2023 and 2033.
Through 2033, Europe held the major market share, accounting for 38% of the total.

Competitor Analysis

Due to the existence of numerous regional and multinational firms that offer a wide variety of vodka variants with cutting-edge flavors while competing to preserve their dominance in the industry under study, the global vodka market is highly fragmented.

Several of the market’s top participants include Diageo Plc, Brown Forman, LVMH Mot Hennessy Louis Vuitton, Pernod Ricard, and Constellation Brands Inc. These companies, along with others, are implementing business strategies such as product innovations, partnerships, and expansion of online and offline distribution networks to improve brand recognition and the portfolio of products they offer, which will ultimately spur market expansion.

Recent Development

Brand Authorization Agreement

Leading beverage alcohol manufacturer Constellation Brands Inc. signed a brand permission deal with The Coca-Cola Company in the United States in 2022 introducing the FRESCA brand to beverage alcohol.

Partnership

With the help of young businessmen Stas Karanikolaou and Zack Bia, Global Brand Equities debuted Sunny Vodka in March 2022 as the newest addition to their lucrative liquid portfolio.

Collaboration

One of the top vodka makers, Roust Group, announced its collaboration with Beijing Soko in October 2020 to introduce Russian Standard vodka to China.

Given Below are the vodka Market Segments

By Type:

Plain Vodka
Flavored Vodka

By Quality:

Average
Premium
Ultra-premium

By Distribution Channel:

Off Trade
On Trade

By Region:

North America
Europe
Asia Pacific
Central & South America
Rest of Central & South America
The Middle East & Africa

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Global Autoclave Market Set to Surge to USD 3.68 Billion by 2034, Fueled by Steady Growth and Innovation | FMI

The global autoclave market had an estimated valuation of around USD 2.2 billion in 2023 and is expected to reach a size of USD 3.68 billion by 2034, rising at a CAGR of 7% between 2024 and 2034. By 2024, the market for autoclave is poised to reach a valuation of USD 2.32 billion.

The growing need for sterilization solutions in non-medical industries including labs, pharmaceutical production, and research institutions is a significant factor propelling the autoclave market. Autoclave are being used more and more for sterilizing materials, equipment, and instruments due to the growing demand in these sectors to maintain sterile environments and assure product safety.

This is propelling the market expansion beyond conventional healthcare applications. Technological developments in sterilization, such as shorter cycle durations and increased effectiveness, have led to a growing use of autoclave in several industrial domains.

Using smart technologies to enhance sterilization procedures, such Internet of Things sensors and data analytics, presents an opportunity for the market players in the autoclave market. Autoclave manufacturers are able to provide proactive solutions that boost equipment performance, decrease downtime, and increase overall operational efficiency by utilizing real-time monitoring and predictive maintenance capabilities.

This technological advancement promotes market expansion by matching the growing need for intelligent solutions in industrial and healthcare environments.

Key Takeaways from the Market Analysis:

The global autoclave market size reached USD 1,723.60 million in 2018.
From 2018 to 2023, the autoclave market experienced a CAGR of 5%.
Over the course of the projection period, the autoclave sector in the United States is expected to develop at a CAGR of 2.90%.
With a projected 53% market share in 2024, the gravity autoclave is expected to grow in popularity in the global autoclave market.
It is projected that the floor standing modality will be the preferred option, accounting for 34.80% of the market in 2024.

“The growing focus on infection prevention and control in healthcare settings, driven by increasing concerns about healthcare-associated illnesses and strict regulatory requirements for sterilizing standards, is a major factor driving the autoclave market” says an FMI analyst.

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Competitive Landscape:

Autoclave market innovations address a variety of issues, including sterilizing efficiency, user experience, and environmental sustainability. To increase operational efficiency and streamline sterilization procedures, market players are investing in innovative technologies like automation, artificial intelligence, and Internet of Things integration.

In an effort to reduce the negative effects on the environment, eco-friendly sterilizing techniques and materials are being developed. Enhancing user safety and convenience, increasing chamber capacity, and optimizing space use are the goals of design and functionality innovations.

Through creative thinking, autoclave startups are transforming sterilizing technology. These companies create small, lightweight autoclave that are suited to the requirements of mobile clinics and smaller healthcare institutions by utilizing developments in materials science and engineering.

New companies investigate innovative sterilization techniques like microwave and ultrasonic sterilization in an effort to provide effective, affordable substitutes for conventional autoclave. Their adeptness and concentration on innovative technologies establish them as essential agents of forthcoming market expansion.

Key Developments:

In 2023, STERIS plc declared that it has reached a final agreement to pay US$ 540 million to Becton, Dickinson and Company (NYSE:BDX) (“BD”) for the surgical instruments, laparoscopic instrumentation, and sterilizing container assets.
With a current value of about USD 60 million, STERIS expects the transaction to be eligible for a tax advantage associated with tax deductible goodwill. The brands V. MuellerTM, Snowden-PencerTM, and GenesisTM, which are well-known suppliers of surgical tools and sterilisable containers to healthcare customers, are included in the transaction.

The Key Players In This Market Include:

Steris healthcare
Getinge AB
PHC Corporation
Shinva Medical Instruments Co. Ltd.
MELAG Medizintechnik GmbH & Co. KG
Astell Scientific
Consolidated Sterilizer Systems
Tuttnauer
Labtron Equipment
BMT Medical Technology S.R.O.
LTE Scientific

Key Segments Profiled in the Autoclave Market:

By Product Type:

Gravity Autoclave
Vacuum induced Autoclave

By Modality:

Floor standing
Bench Top
Wall Mounted
Portable

By Loading Type:

Top Loading
Front Loading
Pass Through

By Chamber Type:

Cylindrical
Rectangular

By End User:

Hospitals
Office Based Clinics
Academic and Research Institutes
Research Laboratories
Pathology Laboratories
Biopharmaceutical Companies
Food and Beverages Companies

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
Middle East & Africa

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Global Transradial Closure Devices Market Set for Significant Growth, Projected to Reach USD 381.4 Million by 2030

The global transradial closure devices market is on track for remarkable growth, with projections indicating a market valuation of USD 381.4 million by 2030, up from USD 225.4 million in 2022. This impressive expansion reflects a robust Compound Annual Growth Rate (CAGR) of 6.8% over the forecast period.

Transradial closure devices currently command a substantial 19.3% share of the global vascular closure devices market. The increasing prevalence of cardiac conditions worldwide is anticipated to be a key driver in the growing adoption of these innovative devices. Known for their pivotal role in facilitating minimally invasive procedures, transradial closure devices are favored for their ability to significantly reduce recovery times and lower the risk of complications.

The anticipated market expansion is further supported by escalating healthcare investments and ongoing advancements in cardiovascular interventions. As demand for effective and efficient healthcare solutions rises, manufacturers are poised to capitalize on technological innovations to enhance patient outcomes and improve healthcare efficiencies on a global scale.

“This growth in the transradial closure devices market reflects not only the increasing incidence of cardiac issues but also a broader trend towards minimally invasive surgical practices,” said FMI. “As we continue to innovate, we are committed to delivering solutions that prioritize patient safety and optimize recovery.”

Key Takeaways: Transradial Closure Devices Market

The global market for transradial closure devices is expected to reach USD 381.4 million by 2030, growing at a CAGR of 6.8% from a valuation of USD 225.4 million in 2022.
North America dominates the market, driven by rising cardiovascular disease and increased use of diagnostics. It holds an estimated 38.3% market share.
Europe follows closely at 33.5% share, with advancements in healthcare facilities and growing awareness of heart health boosting the market.
South Asia is emerging as a promising market due to a growing healthcare sector and increasing adoption of transradial closure devices.
Other regions like East Asia, Oceania, Latin America, and the Middle East/Africa are expected to see moderate growth.

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Competitive Landscape:

Due to intense market competition, leading competitors are prioritizing the introduction of state-of-the-art technology and equipment.

Beijing Demax Medical Technology Co., Ltd. unveiled a novel radial artery compression tourniquet featuring a transparent compression plate for seamless observation.
Meanwhile, Advanced Vascular Dynamics launched its latest offerings including the Zephyr® Vascular Compression Device, RadARTM Vascular Compression Device, and various other transradial closure devices.

Top of Form

Key Companies Profiled:

Merit Medical, Inc.
Abbott Laboratories
Fisher & Paykel Healthcare Corporation Ltd.
Vascular Solution Inc.
Advanced Vascular Dynamics
Comed B.V.
Beijing Demax Medical Technology Co., Ltd.

Key Segments of Transradial Closure Devices Industry Survey:

Transradial Closure Devices Industry by Product:

Band/Strap-based Transradial Closure Devices
Knob-based Transradial Closure Devices
Plate-based Transradial Closure Devices

Transradial Closure Devices Industry by Usage:

Disposable Transradial Closure Devices
Reusable Transradial Closure Devices

Transradial Closure Devices Industry by Application:

Surgical Intervention
Diagnostics

Transradial Closure Devices Industry by End User:

Hospitals
Independent Catheterization Centers
Ambulatory Surgical Centers
Specialized Clinics

Transradial Closure Devices Industry by Region:

North America Transradial Closure Devices Market
Latin America Transradial Closure Devices Market
Europe Transradial Closure Devices Market
East Asia Transradial Closure Devices Market
South Asia & Pacific Transradial Closure Devices Market
Middle East & Africa (MEA) Transradial Closure Devices Market

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Global Mammalian Transient Protein Expression Market Poised for Significant Growth, Expected to Reach USD 1,303.55 Million by 2034

The global mammalian transient protein expression market is on a robust growth trajectory, projected to reach USD 762.34 million in 2024 and expand at a CAGR of 5.5% over the next decade, ultimately achieving USD 1,303.55 million by 2034. This upward trend underscores the increasing demand for efficient and effective protein production techniques in the biopharmaceutical sector.

Mammalian transient protein expression is a cutting-edge technique employed for producing recombinant proteins in mammalian cells. This system serves as a vital host for generating mammalian proteins with native structure and activity, making it indispensable for the production of antibodies and therapeutic proteins. Additionally, this technique facilitates the creation of proteins essential for functional cell-based assays, enhancing research and development efforts in the life sciences.

One of the key advantages of the mammalian transient protein expression system is its ability to enable flexible and rapid protein production. This approach allows researchers and manufacturers to generate substantial quantities of proteins in a short period, meeting the fast-paced demands of the industry. The system’s adaptability to accommodate a wide range of protein targets, along with its capacity for post-translational modifications (PTMs), plays a crucial role in ensuring proper protein folding, stability, and biological activity.

As the biopharmaceutical landscape continues to evolve, the mammalian transient protein expression market is set to thrive, driven by advancements in technology and increasing investments in research and development. This growth reflects a broader trend toward more efficient bioprocessing methods, which are essential for meeting the rising global demand for therapeutic proteins and biologics.

The mammalian transient protein expression market is experiencing significant growth, driven by several key factors:

Increasing Demand for Biopharmaceuticals: The rise in demand for therapeutic proteins and monoclonal antibodies, particularly in treating chronic diseases and cancers, is boosting the need for efficient protein expression systems.
Advancements in Expression Technologies: Innovations in transient expression systems, such as improved plasmid design and transfection methods, enhance yield and productivity, making them more attractive for researchers and manufacturers.
Rise of Personalized Medicine: The shift towards personalized medicine is leading to an increased focus on producing specific proteins tailored to individual patient needs, further driving demand for transient expression technologies.
Cost-Effectiveness and Speed: Transient expression allows for faster production of proteins compared to stable cell lines, enabling quicker turnaround times for research and development, which is appealing to biotech and pharmaceutical companies.
Growing Applications in Research and Development: The use of transiently expressed proteins in vaccine development, diagnostics, and basic research is expanding, promoting growth in the market.
Collaborations and Partnerships: Increased collaboration between academic institutions and industry players is fostering innovation and driving the adoption of transient expression technologies.

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Competitive Landscape of the Mammalian Transient Protein Expression Industry:

Prominent players in the mammalian transient protein expression market, including Thermo Fisher Scientific and Merck KGaA, dominate market shares thanks to their cutting-edge technologies in cell line development, vector systems, and bioprocessing. Additionally, strategic partnerships, acquisitions, and extensive global reach are essential strategies adopted by other key industry participants.

The diversification of existing companies into related services, such as stable cell line development and contract manufacturing, enhances market competitiveness. Moreover, continuous innovation aimed at improving protein yield, scalability, and addressing the evolving needs of biopharmaceutical research and development is expected to drive significant market growth in the near future.

Recent Industry Developments in the Mammalian Transient Protein Expression Market:

In December 2023, Promega and Biolabs announced the expansion of their collaborative initiative to support early-stage start-ups globally and accelerate discoveries in life sciences.
In December 2023, Takara Bio Inc. began constructing a new facility in Shiga, Japan, focused on manufacturing mRNA vaccine ingredients and enzymes for mRNA production.
In June 2020, Lonza expanded its cell culture media portfolio by introducing GSv9™ Media and Feeds, a fully integrated solution designed to optimize recombinant protein production using Lonza’s GS Gene Expression System.

Key Players of the Mammalian Transient Protein Expression Industry:

Thermo Fisher Scientific, Inc.
Lonza Group Ltd.
Sartorius AG
Merck KgaA
Danaher Corporation
Creative BioMart
Promega Corporation
Mirus Bio
FUJIFILM Wako Pure Chemical Corporation
Takara Bio
Agilent Technologies, Inc.
Bio-Rad Laboratories, Inc.
Creative Biolabs
GeneCopoeia, Inc.
HiMedia Laboratories
Qiagen

Mammalian Transient Protein Expression Market Segmentation:

By Product:

In terms of product, the industry is segregated into instruments, expression vectors, cell lines (Chinese hamster ovary (CHO) cells, human embryonic kidney 293 (HEK 293) cells and others cell lines) and reagents and consumables

By Application:

In terms of Application, the industry is segregated into bio-production (antibody production and therapeutic protein production), functional cell-based assays, academic research and others

By End User:

In terms of end user, the industry is segmented into biopharmaceutical companies, contract research organizations and academic & research institutes

By Region:

Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, Middle East, and Africa have been covered in the report.

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