Cannabidiol Market: Regional Analysis and Market Share By 2021-2028
The global CBD oil market size is expected to showcase considerable growth by reaching USD 55,791.3 million by 2028 while exhibiting an exceptional CAGR of 47.49% between 2021 and 2028. This information is published by Fortune Business Insights, in a report, titled “CBD Oil Market, 2021-2028.” The report further mentions that the market stood at USD 2,770.8 million in 2020. Factors such as the increasing product approvals by the FDA and concerned government agencies and the growing demand for CBD amongst the health and fitness enthusiasts will bode well for the growth of the market. For instance, according to a report by the Harvard Health Institute in 2018, CBD can be extensively adopted to provide relief from health issues such as anxiety, insomnia, etc.
The coronavirus emergency has resulted in financial jeopardy for trade and businesses worldwide. The authorities of several countries have initiated lockdown to avert the increase of the disease. Such strategies have resulted in disruption in the production and supply chain. According to the International Facility Management Association (IMFA), 84% of in-store operations got affected due to the pandemic, of which, food services represent a significant share in 2020.
List of the Leading Companies Profiled in the Global CBD Oil Market are:
Medical Marijuana Inc. (California, U.S.)
Cannoid, LLC (Colorado, U.S)
Isodiol International Inc. (Vancouver, Canada)
ENDOCA (Chicago, U.S.)
Folium Biosciences (Texas, U.S.)
Nuleaf Naturals Llc. (Colorado, U.S)
Pharmahemp d.o.o (Slovenia, Europe)
Elixinol Global (Sydney, Australia)
CV Sciences (California, U.S.)
Medterra CBD (California, U.S.)
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What does the Report Provide?
The global market report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth.
Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis and PESTEL to obtain information about the current trends and industry developments that will drive the market growth between 2021 and 2028. Our well-revised reports help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly
Increasing FDA Approvals for CBD Products to Promote Market Growth
The prominent players in the market are focusing on launching novel and advanced products to cater to the high demand for CBD among consumers. The increasing utilization of the product in the manufacturing of medicines and consumer products will create lucrative opportunities for the market. The rising approval grants from the government agencies for various CBD products is further expected to favor the growth of the market.
Additionally, the proactive focus of the manufacturers towards the incorporation of CBD in a variety of food products is expected to contribute to the global cannabidiol market growth during the forecast period.
On the basis of source, the market is bifurcated into marijuana and hemp. Furthermore, based on application, the market is segregated into food & beverages, pharmaceuticals, pet care, cosmetics, and others.
On the basis of application, the pharmaceuticals segment is expected to hold the largest global cannabidiol market share during the forecast period. This is owing to the constant focus on developing innovative medical products across the pharmaceutical industry worldwide.
Lastly, based on region, the market is categorized into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
North America – The region stood at USD 1276.7 million in 2020 and is anticipated to hold the highest position in the market in the forthcoming years. This is attributable to the favorable government policies that enable the commercialization of cannabidiol products in countries such as the U.S. and Canada.
Europe – The market in the region is anticipated to showcase exponential growth backed by the rising sales of CBD products such as vaping, smoking, and edibles in the region between 2021 and 2028.
Major Companies Focus on Partnerships to Brighten Their Market Prospects
The global market for cannabidiol is experiencing healthy competition among key players that are focusing on partnering with other companies to expand their product portfolio and further boost sales revenues. Additionally, the other major companies are striving to maintain their presence by adopting strategies such as merger and acquisition, facility expansion, and collaboration that will bode well for the growth of the market in the forthcoming years.
Key Industry Development:
February 2020 - Colgate-Palmolive Company announced the launch of a new product in the U.S. The company reports that the product, CBD Vegan Lip Balm, will help to expand its cosmetics business in the country.
Soup Market Driving Factor, Competitive Landscape and Forecast to 2028
The global soup market size reports further observe that the market was worth $16.12 billion in 2019. Soup is a type of liquid food that is typically served warm or hot that includes combination of several vegetables or meat along with added water. It is believed that this liquid food is one of the oldest cooking food products. The oldest soup dates back to over 20,000 BC and since then has evolved in terms of ingredients and taste. The global soup market size is expected to foresee significant growth by exhibiting a CAGR of 2.79% between 2020 and 2027. Factors such as increasing demand for convenience food products and rapid urbanization is anticipated to propel the market to reach $21.0 billion by 2027
Furthermore, it is savored during the frosty winter days as it provides warmth along with health benefits. A warm vegetable broth brings in refreshing experience at any given time of the day. Moreover, it can be prepared quickly, does not require long preparation hours, and thereby satisfies the hunger pangs instantly.
10 Companies Operating in the Global Soup Market:
The Campbell Soup Company
Baxters Food Group Limited
General Mills, Inc
Conagra Brands, Inc.
Premier Foods Group Limited
The Kraft Heinz Company
Hindustan Unilever Limited
Ottogi Co., Ltd
Associated British Foods plc
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Instant Soup that Held 36.78% Market Share to Exhibit Exponential Growth
The segment Instant Soup (By Type) is likely to witness massive market in the forthcoming years. Additionally, it held a market share of about 36.78% in 2019 and is expected to grow gradually owing to increasing preference for ready-to-eat snack among consumers.
On the other hand, canned soup is anticipated to hold the second-most leading share for the market backed by large-scale penetration of the product in developed regions. For instance, countries such as the U.S. and GermBrowse In-depth Summary of This Research Insight:any usually prefer canned soups to chilled and dehydrated soups.
Drivers and Restraints:
Increasing Consumption of Convenience Foods to Aid Growth
Increasing density of population and high disposable income is driving the demand for convenience food products across the globe. The people owing to hectic work life prefer several food products that are ready-to-eat and can be consumed instantly. Additionally, increasing number of women working population is anticipated to bolster the growth of the market in the forthcoming years.
Furthermore, the manufacturers are innovating their products to cater to the increasing demand of the consumers. Moreover, growing demand for packaged food products among developed and developing economies will bode well for the growth of the market. For instance, according to the Canada Agri-food report, China registered a total sales value of USD 272, 741 Million in 2019 and is further anticipated to grow at a rate of 7%.
Large Consumer Base in Europe to Promote Growth
Among the regions, Europe is expected to remain at the forefront and register highest global soup market revenue during the projected horizon. In addition to this, Europe was worth USD 6.07 Billion in 2019 and is likely to grow significantly. This is ascribable to factors such as presence of large consumer base and high demand for processed foods in the region. North America, on the other hand, is anticipated to be the second-most leading region in the forthcoming years. This is attributable to factors such as large consumer base that prefers instant food products.
Ritzy West End Introducing a $15 Takeaway Package to Stimulate Growth
In May 2020, Ritzy West End’s Chef Ris Lacoste announced its $15 care packages that is available for delivery and takeaway in D.C. amid the widespread effects of novel coronavirus.
In times of chaos and hardship, the West End restaurant is offering its care packages that include a salad of the week, fresh baked bread, and pint-sized soups without charging any delivery fees. Like Ritzy’s, there are several others who are helping the cause to uplift the people who are suffering from devastating effects. Furthermore, adoption of strategies such as novel product launch, collaboration, and merger and acquisition by the companies will positively affect the growth of the market between 2020 and 2027.
Key Industry Development:
January 2020: Clarity Food Ventures LLC introduced its new range of refrigerated soupy kits, Soup Explorers. According to the company, the food product involves less preparation time and includes several new flavors such as Vietnamese Vegetable Pho, American Chicken Noodle, and Moroccan Chilled Cucumber, among others. The introduction of the product is likely to cement its position in the global marketplace.
Food Premix Market 2022 Trends, Growth Opportunities, Industry Revenue by 2029
The food premix market size was USD 1.32 billion in 2020. The market is projected to grow from USD 1.43 billion in 2021 to USD 2.18 billion in 2028 at a CAGR of 6.21% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report titled, “Food Premix Market, 2021-2028.” Factors such as rising consumer demand for maintaining their health & wellness and the emerging trend of preventing lifestyle-related diseases will boost the growth of the market during the forecast period. Additionally, the rising consumption of nutraceuticals will increase the footprint of the market.
List of Key Players Present in the Market
Koninklijke DSM N.V. (Netherlands)
Glanbia plc (Ireland)
BASF SE (Germany)
Corbion N.V. (Netherlands)
SternVitamin GmbH and Co. KG (Germany)
Vitablend Netherland B.V. (Netherlands)
Hellay Australia Pty. Ltd. (Australia)
Farbest-Tallman foods Corporation (U.S.)
Jubiland Life Sciences (India)
Watson foods Co., Inc. (U.S.)
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Type, Application, and Region are Studied
Based on type, the market is divided into vitamins, minerals, amino acids/proteins, and others.
By application, the market is broken down into dietary supplements, beverages, dairy products, bakery products, and others.
In terms of geography, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
The market report contains a detailed analysis of the industry by focusing on critical aspects such as leading companies, types, and leading applications of the product. Additionally, the report also offers ongoing market trends and highlights the key industry developments. Also, the report encompasses several factors that are expected to impact the market in a positive/negative manner during the intended forecast duration.
Drivers & Restraints
Rising Utilization of Premixes for Increased Nutraceutical Manufacturing to Drive Market Growth
Factors such as rising demand for functional food & beverages and dietary supplements and increasing availability of nutraceuticals in various forms will boost the food premix market growth during the forecast period. Additionally, changing consumer consumption and supplements becoming a staple part of regular diets will increase the footprint of the market. Also, increasing demand for customized premixes and rising focus of various government bodies toward spreading awareness regarding the benefits of supplements will drive the market growth.
However, strict regulatory standards will limit the growth of the market during the forecast period.
Asia Pacific Will Dominate Market due to Rising Trend of Extending Lifespans Among Consumers
Asia Pacific will witness the largest food premix market share during the forecast period owing to the increasing number of consumers seeking supplements toward improving their health and an increasing trend of extending lifespans. Additionally, the region is expected to be a breeding ground for herbal dietary supplements due to its rich history of traditional medicines. Also, increasing purchasing power will further aid market growth.
North America will occupy a substantial market share in terms of global contribution due to increasing demand for probiotics and rising consumer awareness in terms of added health benefits. Additionally, rising instances of irritable bowel syndrome and food sensitivities will further increase the footprint of the market.
Product Development & Consumer Retention to Augment Market Share
The dominant players in the food premix industry are constantly striving for developing novel products for constantly changing consumer demands. Others are also focused on increasing their presence in the market by employing strategic tactics such as mergers & acquisitions and collaborations. For example, in December 2020, Prinova announced the launch of its plant-based premixes for dairy alternative products. This will allow the organization to fulfill the increasing demand for functional foods for its vegan consumer base. Additionally, players are also focused on developing new products to maintain a competitive edge.
October 2021: SternVitamin GmbH developed new micronutrient premixes that have the ability to be utilized for fortification of fortifying vegan products. These products include oat drinks, vegan burgers, and alternative seafood products.
Antioxidants Market Outlook, Research, Trends and Forecast To 2028
The global antioxidants market size is expected to grow from USD 4.13 billion in 2021 to USD 6.05 billion in 2028. These additives are nowadays being used extensively in multiple cosmetics products, including body lotions, shampoos, conditioners, and creams. BEAUTYLAB, for instance, announced that its Youth Elixir Super Antioxidant Daily Hydrator bagged the Pure Beauty Awards under the Best New Premium Anti-Ageing Product category in November 2019. It helps in protecting the skin from ageing effects. “Antioxidants Market, 2021-2028,” the market stood at USD 3.92 billion in 2020. It is set to exhibit a CAGR of 5.61% in the forecast period “between” 2021-2028.
Plastic, Rubber, and Latex Additives Segment to Grow Lucratively Stoked by Ability to Enhance Flexibility
By applications, the market is segregated into plastic, rubber, & latex additives, fuel & lubricant additives, food & feed additives, pharmaceutical & personal care products, and others. Out of these, the plastic, rubber, and latex additives segment is set to showcase a lucrative growth by generating a significant antioxidants market share. They help in improving the flexibility, appearance, stiffness, and strength of the product. Additionally, they prevent degradation with the help of thermo-oxidative or thermo-mechanical properties.
Fortune Business Insights™ lists out the major manufacturers present in the global market. They are as follows:
BASF SE (Ludwigshafen, Germany)
ICC Industries Inc. (United States)
Kemin Industries Inc. (Iowa, United States)
Archer Daniels Midland Company (Illinois, United States)
Barentz International BV (Hoofddorp, Netherlands)
Kalsec, Inc. (Michigan, United States)
Eastman Chemical Company (Tennessee, United States)
Camlin Fine Sciences Ltd. (Maharashtra, India)
Koninklijke DSM N.V. (Heerlen, Netherlands)
Givaudan (Vernier, Switzerland)
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SI Group Plans to Open New Plant for Producing Weston 705-brand Antioxidants in China
In April 2021, SI Group, a leading manufacturer of chemical intermediates, pharmaceutical ingredients, and performance additives based in the U.S. announced its plans to open its new plant in China by May 2021 to produce Weston 705-brand antioxidants. It will help the company to enhance its customer base and broaden its product portfolio in China and Asia Pacific through simplified logistics and compressed lead time.
Trade Barriers Have Resulted in Halt of Production in Asia amid COVID-19 Pandemic
Various manufacturers across the globe have halted their production facilities in Asia because of import and export disruptions in China. Also, restricted public mobility and imposition of trade barriers have resulted in disturbances in the supply chain. For instance, BASF SE stopped manufacturing operations in India. But, the situation would gradually normalize, thereby providing numerous growth opportunities to the market amid the pandemic.
Drivers & Restraints-
Rising Usage of Innovative Meat Preservative Techniques to Bolster Growth
Rapid urbanization, surging population, and high disposable income are constantly aiding the demand for animal products, especially in developing nations. The World Bank Data mentioned in 2020 that 55% of the global population lives in cities. This number is expected to grow rapidly in the near future. At the same time, over the past twenty years, the total meat consumption reached 360 million tons worldwide. Amongst this, 54% rise happened because of the high population growth. Companies are using various meat preservative techniques, such as smoking, drying, and salting. Also, the addition of preservatives and unique thermal treatments would also accelerate the antioxidants market growth. However, new product approvals get negatively impacted because of the rising number of stringent policies put forward by regulatory bodies. It may hamper growth.
Asia Pacific to Remain at Forefront Fueled by Surging Digitization and Awareness of Additives
Asia Pacific held USD 1.71 billion in 2020 in terms of revenue. The surging consumer awareness regarding the advantages of using antioxidants and the rising digitization would bolster growth in this region. The Food Export Association of the Midwest USA report mentioned that Japan is the third-largest producer of packaged food, followed by the U.S. and China. It would also aid regional growth.
In North America, the spurring utilization of this additive in the rubber, lubricant, and plastic industries would drive growth. Besides, the presence of multiple prominent manufacturers is set to boost regional growth.
Europe is estimated to grow considerably throughout the forthcoming years because of the rising number of personal vehicles. Coupled with this, the high demand for cosmetic products in this region would augment growth.
Oleoresin Market Trends, Analysis, Revenue, Challenges and Global Forecast 2029
The global oleoresin market size hit USD 1.35 billion in 2021. The market value is slated to rise from USD 1.42 billion in 2022 to USD 1.99 billion by 2029, exhibiting a CAGR of 5.0% during the forecast period. Oleoresins are rising in popularity across several North American and European markets, owing to the growing consumer attraction toward ethnic cuisines. Heightened consumer demand for ethnic foods with exotic flavors and more herb & spice extracts is creating new opportunities for market players, says Fortune Business InsightsTM in its report titled, “Oleoresin Market, 2022-2029”.
List of Key Market Players:
Synthite Industries (India)
PT Indesso Aroma (Indonesia)
Ungerer & Company (U.S.)
Universal Oleoresins (India)
Plant Lipids, (India)
Akay Group (India)
Gazignaire SA (France)
AVT Naturals (U.S)
Kalsec Inc. (U.S.)
Ozone Naturals (India)
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By Product, Paprika to Hold Dominant Market Share during 2022-2029
Based on product, the market is segmented into paprika, black pepper, capsicum, ginger, turmeric, cinnamon & cassia, and others. The paprika segment is anticipated to hold the major share in the market owing to its wide use in the food industry as a coloring and flavoring agent. The product is experiencing demand owing to its antioxidant, anti-inflammatory, anti-aging, and anti-depression properties.
By Application, Food & Beverages Segment to Create Monumental Demand through 2029
In terms of application, the market is segregated into food and beverages, pharmaceuticals, animal feed, and cosmetics. Among these, the market is expected to witness robust demand from the food & beverages segment. The product finds wide use in a range of foods and beverages, from cheese, processed meats, and spice fixtures to orange juice, sauces, and sweets.
Drivers & Restraints-
Rising Processed Food Consumption to Create New Opportunities
The oleoresin market growth is primarily driven by the increasing consumption of packaged and processed food & beverage products. Consumer demand for cheeses, soups, sauces, dressings, processed meats, seafood, backed foods, snacks, and confectionery products has surged rapidly in recent years, especially since COVID-19. These factors along with the growing public awareness toward the benefits of oleoresin will augment its consumption.
However, price fluctuations and seasonal availability are some factors that could limit the product consumption in the forthcoming years.
Europe to Lead the Global Market Share owing to Changing Diet Patterns
Europe dominated the global oleoresin market share in 2021 and is expected to show similar trends during the projected period. The regional growth is attributable to the rising demand for spice oils among the population. In addition, rising incomes and changing lifestyles will positively influence the regional growth.
Meanwhile, the market in Asia Pacific will be driven by growing application of the product in cosmetics and pharmaceuticals. The presence of a large geriatric population base will create immense opportunities for local as well as international players.
Prominent Players’ Capacity Expansion to Cater to the Growing Demand
Leading market players are adopting various growth strategies to sustain in the intensifying global competition. One such strategy is the expansion of production capacity to meet the rising global demand. Other strategies include new product launches, mergers and acquisitions, and strategic collaborations.
Key Industry Development-
October 2021: Plant Lipids announced an investment of INR 200 crore expansion in Kerala, India.
Seafood Market Growth, Segmentation, Development, Outlook and Forecast 2022-2029
The seafood market size was USD 310.75 billion in 2021. The industry is expected to grow from USD 333.25 billion in 2022 to USD 605.46 billion by 2029, exhibiting a CAGR of 8.92% over the forecast period. The rise can be attributed to a range of factors including rising disposable income and surging per capita consumption.
This information is cited by Fortune Business Insights™ in its research report, titled “Seafood Market, 2022-2029”.
List of Key Players Mentioned in the Report:
Nippon Suisan Kaisha Ltd. (Japan)
Maruha Nichiro (Japan)
Mowi ASA (Norway)
Charoen Pokphand Foods Group (Thailand)
Dongwon Group (South Korea)
Marubeni Corporation (Japan)
Mitsubishi Corporation (Japan)
OUG Holdings (Japan)
Thai Union Group Public Company Limited (Thailand)
Trident Seafoods Corporation (U.S.)
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Fish Segment to Register Substantial Surge Due to Various Benefits
On the basis of type, the market is fragmented into molluscs, crustaceans, fish, and others. The fish segment is expected to record a commendable share over the forecast period due to a range of benefits such as diversity and freshness. Based on region, the market can be subdivided into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
Fresh Segment to Record Commendable Growth Owing to Surging Demand for Premium Products
On the basis of form, the industry is segmented into processed and fresh products. The fresh segment is anticipated to register appreciable growth considering the soaring demand for premium and natural products. Additional factors favoring the industry expansion comprise numerous health-imparting properties and various quality attributes.
Supermarkets/Hypermarkets Segment to Record Considerable Growth Due to Availability of Various Solutions
The supermarkets/hypermarkets segment is poised to depict substantial growth over the estimated period. The surge can be attributed to the changing lifestyle and growing urbanization. Additional aspects favoring segmental growth comprise the extensive availability of a range of solutions under a single roof.
The report provides an in-depth coverage of the significant trends that are poised to propel the business landscape over the forthcoming years. It further gives a comprehensive analysis of the vital steps taken by leading industry participants for the consolidation of their market position. Additional aspects include the key factors that are set to impel industry growth over the forecast period.
Drivers and Restraints:
Market Share to Rise Propelled by Increasing Advancements in Processing Techniques
Seafood market growth can be attributed to the surging demand for processed food in developing countries and the rising consumption of convenience food among millennials. The recent years have recorded a considerable upsurge in the demand for easy-to-cook products driven by the availability of well-equipped storage chains and increasing advancements in processing techniques.
However, the industry expansion is likely to be hampered by an increase in the consumption of plant-based foods.
Asia Pacific to Lead Driven by Rising Urbanization and Growing Population
Asia Pacific seafood market share is expected to record lucrative expansion over the coming years. The surge can be attributed to various factors including the growing urbanization trend and the growth of population. Europe is estimated to depict a notable surge over the forecast period. The escalation can be credited to the increased earnings and soaring working population.
Industry Players Strike Partnership Deals to Strengthen Market Position
Major seafood companies are entering partnership deals and agreements for expanding their product reach. Besides, various industry participants are undertaking research activities for the development of new products. Some of the additional initiatives include the formation of alliances, acquisitions, mergers, and others.
Key Industry Development:
June 2022 – Yummyli launched a new Android version app, dubbed ‘Yummyli by Uniflavor Foods’. The app will help customers to purchase high-quality mutton, chicken, and other ready-to-cook products.
Meat Substitutes Market Size, Share, Industry Analysis & Forecast Report 2029
The global meat substitute market size was valued at USD 5.41 billion in 2021. The market is anticipated to surge from USD 5.88 billion in 2022 to USD 12.30 billion by 2029 at an 11.11% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Meat Substitute Market, 2022-2029.”
According to the study, plant-based products have become sought-after in minimizing the issues of dependence on livestock production for meat products. Clean meat substitute will gain further traction with the rising trend of vegan and vegetarian diets. Environment-friendly food products will continue to be sought globally. The Economist asserted that the number of vegans in the U.S. rose from 0.4% to 3.5% in 2021.
Major Players Profiled in the Report:
Beyond Meat (U.S.)
Impossible Foods (U.S.)
Kellogg Company (U.S.)
Tyson Foods (U.S.)
JBS SA (Brazil)
Conagra Brands, Inc. (U.S.)
Hain Celestial Group (U.S.)
Unilever Group (U.K.)
Nestle S.A. (Switzerland)
Sunfed (New Zealand)
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Soy-based Ingredients to Remain Dominant with Growing Demand from Vegan Population
With respect to source, the market is segregated into wheat-based ingredients, soy-based ingredients, other grain-based ingredients, and textured vegetable proteins. The soy-based ingredients segment could remain dominant due to growing traction among the vegan and vegetarian population. Moreover, the soaring popularity of tofu and tempeh across North America and Europe will boost ingredient adoption.
Mass Merchandiser to Grow with Easy Product Availability
With respect to distribution channel, the market is segmented into other retail channels, mass merchandisers, online retail, specialty stores, and food service. The mass merchandisers segment will exhibit notable growth due to easy availability and prevalence of discounts.
The report provides a holistic view of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Moreover, qualitative and quantitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals. The research report also delves into pre and post-COVID-19 analysis to provide a comprehensive perspective of the market.
Drivers and Restraints
Advanced Form of Packaging Design to Reinforce Growth Potentials
Developed and developing countries have exhibited an increased inclination for clean products with carbon labeling. Of late, millennials and Gen Z populations have shown traction for advanced packaging with respect to environmental impact. Growing preference from health-conscious consumers could foster meat substitute market share during the forecast period. Besides, escalating risk of cardiovascular disease, diabetes, and cancer due to consumption of red meat will further encourage the consumption of plant-based protein foods. However, difficulty in mirroring the meat color and challenges with respect to manufacturing meat flavor could dent the market growth.
Stakeholders Invest in Mergers & Acquisitions to Boost Portfolios
Major companies could invest in product launches, mergers & acquisitions, and technological advancements to bolster footprint. Besides, an influx of funds into R&D activities will encourage well-established players and new entrants to propel their portfolios.
Europe to Gain Prominence from Soy-based Ingredients
Stakeholders anticipate Europe to witness investments abound with the rising trend for soy-based ingredients and wheat-based ingredients. With a notable shift toward a sustainable trend, plant-based products will be sought across the U.K., France, Germany, and Italy. The growing trend for gluten-free and vegan diets will bode well for regional growth.
The Asia Pacific meat substitute market growth will be pronounced with rising emphasis on the vegan population. Moreover, consumers have spurred investments in high-quality, nutritious, and protein-rich food products. With the growing focus on sustainability, hotels and restaurants could invest in plant-based products.
North America could contribute notably toward the global market share due to the soaring popularity of vegan meat burgers and sausage. Manufacturers of meat substitute are likely to inject funds into nutritious, tastier, and high-quality plant-based products. Clean products are expected to gain ground across online channels and will continue to be sought across retail food chains.
Key Industry Developments
February 2022: Beyond Meat, Inc. announced a three-year global strategic agreement with McDonald’s Corporation. Under this agreement, Beyond Meat, Inc. has become the preferred supplier for a new plant-based burger patty for McPlant, a plant-based burger.
Wine Market Revenue, Future Growth, Business Prospects and Forecast to 2028
The global wine market size was USD 339.53 billion in 2020. The market is projected to grow from USD 340.23 billion in 2021 to USD 456.76 billion in 2028 at a CAGR of 4.30% in the 2021-2028 period.
This information is provided by Fortune Business Insights, in its report, titled, “Wine Market, 2021-2028.”
According to our researchers, the industry is inducing rustic landscapes for consumers across the world and attaining huge admiration in the global marketplace, owing to its taste and uplifting properties. The beverage has become a significant commodity and is also obtaining approval in the overseas market, owing to the eased trade duties and tariff obstructions in marketing.
List of Key Players Mentioned in the Report:
The Wine Group (U.S.)
John Distilleries (India)
International Beverage Holdings (Thailand)
Distell Group Limited (South Africa)
Halewood Wines International (U.K.)
Sula Vineyards Pvt. Ltd. (India)
Accolade Wines, Plc. (U.S.)
E & J Gallo Winery (U.S.)
Global Drinks Finland (Finland)
Treasury Wine estates (Australia)
Torres Wines (Spain)
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We offer our reports which are steered with an all-inclusive evaluation approach that primarily emphasizes on bringing comprehensive material. Our scholars have applied a data triangulation method, which further helps us to provide reliant calculations and inspect the general market conditions specifically. Additionally, our analysts have gained admission to several global as well as locally sponsored records for offering the upgraded material in order for the guarantors and business specialists to capitalize only in essential zones.
Drivers and Restraints:
Rising Alcohol Socialization among Consumers to Assist Market Growth
Wine production and consumption have observed rapid development in the last few years, which has led to an augmented consumption pattern. These days, social activities, modernization, and surging acceptance of western culture are few of the aspects promoting alcohol socialization among users. The consumption of this drink is transforming into a signal of social prestige, which in turn is backing the growth of low alcoholic beverages in the market. This is estimated to foster the market growth.
Europe is anticipated to hold the biggest wine market share, as it offers one of the most enticing product assortments, represented by being the largest consumer across the world and was valued at USD 204.94 billion in 2020.
North America is the second largest market for the product. The region has an enormous latent for growth, owing to the rising fondness of millennials towards premiumization trends.
Asia Pacific is estimated to hold a substantial market share in the global marketplace. This is owing to the growing implementation of modernized trends and the ingestion of numerous local cuisines among consumers.
Corporations Engage into Partnerships and Sign Contracts to Spur their Market Position
The vital players of the market are known to implement important tactics in order to uphold their domination over the market worldwide. The players along with their expert consultants apply stratagems such as inaugurating products, signing strategic bonds, initiating mergers and many such factors to plunge market growth and widen their growth prospect throughout the market.
January 2021: E. & J. Gallo Winery Group, declared the procurement of over 30 wine brands from Constellation Brands, Inc., which is an American maker and vendor of wines. The company procured these brands to extend its functional existence with the addition of five vineyards situated in California, New York, as well as in Washington.
Gelatin Market Growth, Segments, Research Report, Fortune Business Insights and Forecast by 2029
The global gelatin market size was valued at USD 2.65 billion in 2021. The market is projected to grow from USD 2.86 billion in 2022 to USD 4.42 billion by 2029, exhibiting a CAGR of 6.43% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Gelatin Market, 2022-2029.”
List of Key Players Covered in the Report
Gelita AG (Germany)
Darling Ingredients Inc. (U.S.)
Nitta Gelatin, Inc. (Japan)
Tessenderlo Group (Belgium)
Trobas Gelatine B.V. (Netherlands)
Lapi Gelatine S.p.a. (Italy)
Juncà Gelatines SL (Spain)
Italgel S.r.l (Italy)
Sterling Biotech Ltd. (India)
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Porcine Gelatin to Hold Largest Share Owing to its Higher Nutrient Content
Based on source, the market is segmented by porcine, bovine, and others.
Porcine segment witnessed strong sales performance over other sources since they are less expensive. Besides, the issue of possible fraud and mislabeling has become a concern among consumers.
Growing Use of the Product in Food & Beverages Propels Gelatin Market Growth
The application segment includes food & beverages, healthcare & pharmaceutical, cosmetics, and others. The food and beverage segment holds a larger share owing to the growing usage of the product in food production to prepare snacks, candies, gummy bears, desserts, and other products.
The market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa in terms of geography.
The report presents a systematic study of the segments and thorough analysis of the market overview. A thoughtful evaluation of the current market trends as well as the future opportunities is offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help to form the market growth. The COVID-19 impacts have been discussed in the report to assist investors and business owners with a better understanding of the possible threats present in the market. The report further discusses the key players and their prominent strategies to stay in the dominating position.
Expanding Use of Gelatin in Healthcare and Pharmaceutical Industries Will Fuel Market Expansion
The rise in chronic and lifestyle-related disorders, the growing elderly population, and the rise in health consciousness have all contributed to the increase in usage of product in the pharmaceutical business. The market is expanding as a result of increased attention being paid to healthcare due to rising healthcare costs. Additionally, using the product is frequently linked to weight loss and the treatment of brittle bones, rheumatoid arthritis, and osteoarthritis.
Europe to Dominate Backed by Increasing Prevalence of Bone-Related Diseases
The largest revenue for gelatin market share, which was valued at USD 1.08 billion in 2021, was contributed by Europe. The expansion of the European market is anticipated to be fueled by the rising prevalence of bone-related illnesses.
Due to the movement in consumer desire from traditional items to more health-oriented products, the food and beverage industry dominates the North American market.
Asia Pacific is anticipated to have the market's fastest growth rate. The region's market is expanding as a result of increased chronic disease occurrences and an aging population.
Partnerships among Companies to Secure their Brand Values in the Global Market
Prominent players in the market are constantly opting for effective strategies to promote their products and establish their positions in the market. One such strategy is to launch new products by partnering with other companies to extend their reach to end-users.
Key Industry Development
January 2022: According to a report from Darling Ingredients Inc., the Terasaki Institute for Biomedical Innovation (TIBI), a regenerative medicine research Centre with Californian base, has teamed with the company's global brand, Rousselot Health. With this agreement, the businesses are concentrating on developing gelatin-based medicines that will eventually find use in clinical settings.
Pea Protein Market Outlook, Research, Trends and Forecast To 2028
The global pea protein market size for is anticipated to rise during the projected period due to increasing demand for a high protein diet and rising vegan population. Fortune Business Insights™ publishes this information in an upcoming report titled, "Pea Protein Market, 2021-2028". As per the report, the pea protein market size was USD 416.39 million in 2020. The market size is anticipated to grow from USD 464.60 million in 2021 to USD 1,026.12 million in 2028 at a CAGR of 12.0% during the projected period.
Pea is a leguminous plant wherein the pea seeds comprise a high amount of proteins which mainly exist as globulins in Pea's Protein Isolate (PPI) products. Rising demand for high protein diet food and an increasing population of vegan food consumers are likely to propel market growth in the coming years. These factors are expected to boost the market during the forecast period.
List of Key Players Profiled in Pea Protein Market are:
BurconNutrascience Corp (Canada)
The Scoular Company (U.S.)
Nutri-Pea Limited (Canada)
Shandong Jianyuan Group (China)
Kerry Inc (Ireland)
Sotexpro SA (France)
Puris Protein LLC (U.S.)
Browse a Summary of This Research Report:
The report provides factual information regarding market development and advancements in recent years. The key developments include strategies such as partnerships, mergers, acquisitions, and alliances. Furthermore, business development practices such as innovation, product development, and market segmentation are highlighted in the report. Drivers and restraints affecting the market growth are given further to assess market growth potential. The impact of the COVID-19 pandemic on market expansion is elaborated in the report further
By type, the market is trifurcated into isolates, concentrate, and textured.
Based on application, the market is segregated into meat substitutes, baked goods, dietary supplements, beverage, and others.
By region, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Drivers & Restraints:
Increasing Healthy Food Consumption to Propel Market Growth
The market is expected to rise at a fast pace during the forecast period owing to rising awareness among people to consume high protein diet food to strengthen their immune system. Also, the growing vegan population in Europe is likely to propel market growth in the region. These factors are likely to ensure pea protein market growth during the forecast period. Furthermore, growing consumer awareness regarding health benefits offered by pea products is anticipated to fuel the market expansion scope. However, potential side effects caused by pea protein are likely to hamper market growth.
North America Leads Market Share Due to Rising Consumption of High Protein Food
North America dominates the global pea protein market share and is expected to grow at a fast pace owing to the rising consumption of cold cereals, energy bars, and snacks. Also, the key players present in the region focuses on introducing new products to propel market growth in the coming years.
Europe is expected to witness significant growth owing to the increasing adaption to healthy living and rising demand for plant-based protein ingredients. The vegan population is increasing in European countries, which is anticipated to increase the product demand in the region.