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Updated by Rupali on Jul 16, 2020
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98

What are the Known and Unknown Adjacencies Impacting the Lipid Nutrition Market

The lipid nutrition market was valued at USD 6.51 billion in 2016, and is projected to reach USD 11.15 billion by 2022, at a CAGR of 9.4% during the forecast period. Currently, this market is gaining momentum due to the popularity of lipid nutrition types such as Omega-3 and Omega-6, because of their various health benefits. The lipid nutrition market is emerging due to the increased awareness about the benefits of a healthy diet among the population, growing health concerns, increasing incidences of diseases with poor therapeutic alternatives, and a large portion of the population trying to ward off the effects of aging. The increasing demand for Omega-3 ingredients due to the increasing awareness regarding their benefits among consumers enables the manufacturers to tap into this opportunity and provide consumers with healthy nutrients.

Lipid nutrition, also known as nutritional lipids, are unique forms of dietary fats that impart a wide range of health benefits and are derived from animal and plant sources such as vegetable oils, fish oil, krill oil, algal oil, nuts, and seeds. They find usage in various end-use applications such as nutritional ingredients in nutritional diets, infant formula, food fortification, pharmaceuticals, nutraceuticals, and personal care products.

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The lipid nutrition market, by type, has been segmented into Omega-3, Omega-6, medium-chain triglycerides (MCTs), and others which include sphingolipids, Omega-7 and Omega-9. The Omega-3 segment is projected to grow at the highest rate during the forecast period. Omega-3 is one of the major types of lipid nutrition; it cannot be synthesized in the body, and it is hence essential to consume them in the diet through supplements, fortified foods & beverages, and prescribed pharmaceutical drugs for preventive healthcare. The Omega-3 market is driven mainly by the growing health consciousness & increased life expectancy among consumers, rising cases of chronic diseases, widening applications of Omega-3 PUFA, and emerging technologies in food processing to upgrade the nutritional benefit of the food products.

Lipid nutrition is used for various applications such as dietary supplements & nutraceuticals, infant formula, pharmaceutical, food fortification, animal nutrition, and others which include personal care, industrial, and flavors. Infant formula is projected to be the fastest-growing segment from 2017 to 2022. The market growth of infant formula is expected to be driven by factors such as shift in preference from regular formula to infant food products fortified with Omega-3, owing to the recommendation provided by official bodies such as the FA0 and WHO which state that all infant formulae for non-breast fed infants should contain DHA; and the increasing number of working mothers who prefer premium products and convenience formula products for infants.

The lipid nutrition market has been segmented on the basis of source into plant and animal source. The plant source segment is projected to grow at the highest rate during the forecast period. An increase in the vegan population in countries such as the U.K. and India, coupled with the drawbacks of fish oil products, such as their pungent odor and taste, are the major attributing factors for the growth of plant-based nutritional lipid products.

On the basis of form, the lipid nutrition market has been segmented into liquid and powder form. The powder form of lipid nutrition is projected to grow at the highest CAGR between 2017 and 2022. The increasing usage of powder form of lipid nutrition in various food applications along with its lower cost of production is expected to drive the market for lipid nutrition in powder form.

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The Asia-Pacific region is projected to be the fastest-growing in the lipid nutrition market. This growth is expected due to the increasing demand for lipid nutrition; the increasing demand for fortified, healthy, and nutritious products such as Omega-3; the changing eating habits of consumers due to busy lifestyles; the rise in aging population; and the increasing birth rate in the Asia-Pacific region.

97

Upcoming Growth Trends in the Global Stevia Market

The report "Stevia Market by Extract Type (Whole Leaf, Powdered, Liquid), Application (Dairy, Bakery & Confectionery, Tabletop Sweeteners, Beverages, Convenience Foods), Form (Dry, Liquid), and Region - Global Forecasts to 2022", The market for stevia is projected to grow at a CAGR of 9.5% from 2017 to reach a value of USD 771.5 Million by 2022.

Stevia has its own unique taste profile and sweetness intensity which is approximately 200 to 350 times greater than regular sugar. Many food & beverage companies use stevia to create products with enhanced taste and fewer total calories. With heavy investment in R&D, new applications such as zero-calorie products and flavor enhancers are emerging rapidly. Stevia offers several advantages such as sugar preplacement, reduction in calories, sweetness, texture, color, and flavor enhancement. Hence, stevia will be viewed as a business opportunity in the next five years. As a result, many multinational players have entered into the production of varied types of stevia.

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Market Dynamics

Growing concerns with regard to sugar, high-fructose corn syrup, and aspartame have shifted the manufacturer’s focus to the usage of stevia for food & beverage applications

Dairy: Stevia is used as an alternative for sucrose

The dairy industry has been strongly influenced by the advantages of using stevia. In an effort to reduce childhood obesity and boost milk sales, the International Dairy Association (IDEA) and the National Milk Producers Federation (NMPF) petitioned the FDA to change the definition of “milk” and 17 other dairy products, including sour cream and yogurt. This change would allow the dairy industry to add aspartame and other sweeteners such as stevia to products without including prominent labels for consumers.

Bakery & confectionery products: Stevia has numerous benefits in confectionery products due to its physical and chemical properties

The most commonly used sweeteners, sucrose, dextrose (glucose), and corn syrups are fundamental in the production of confectionery items such as hard candy, caramel, taffy, chewing gum, chocolate, and gummed candies. In addition to their function in these items, they are widely used due to their low cost, availability, and ease of use during processing. The formulations of many sweetened confections are centered on the properties of stevia. Depending on the confection, stevia helps provide sweetness, improved mouthfeel, crystallization, texture, form, extended shelf life, flavor, and color to the final product.

Tabletop sweeteners: Acts as a natural sweetener and low-calorie alternative to sugar and other artificial sweeteners

Stevia is used as a substitute for sugar to add natural sweetness to hot or cold beverages, to be sprinkled on fruits, or for use in several cooking and baking recipes. Stevia, as a tabletop sweetener, is a source of sweetness 200–300 times sweeter than sugar and is suitable for diabetics and people suffering from phenylketonuria. Natuvia by PureCircle, SteviaFirst Corp, and Truvia are some of the commonly known brands of stevia as a tabletop sweetener.

Beverages: Imparts health benefits to zero- or low-calorie beverages

Alternative sweeteners such as stevia are essential as they provide and expand beverage choices to control caloric, carbohydrate, or specific sugar intake. In case of beverages, stevia is the most preferred option as the bulking properties provided by sugar are not required. Stevia is one of the most common natural sweeteners used for zero- or low-calorie beverages. It is mostly used in beverages such as diet carbonated drinks, flavored water, soft drinks, fruit juices, ready-to-drink beverages, and sports & energy drinks.

Convenience foods: Enhances the properties of food products

Stability, texture, sweetness, and mouthfeel of convenience food are essential factors that appeal to consumers. The other important factors that are essential to enhance the product appeal include shelf-stability, proper shape, color, taste, flavor, volume, and consistency. Stevia blends help to impart these properties to the food product without impacting its quality and its appeal to the consumers. Leading food ingredient manufacturers offer a broad range of stevia blends to meet these requirements.

The Asia Pacific region accounted for the largest market share for stevia, followed by North America and RoW. With a population of more than 4.2 billion and rising income of consumers, stevia sweeteners are projected to witness an increase in the customer base in the Asia Pacific as it is an important segment of the sweeteners industry. The Asia-Pacific region is projected to be the fastest-growing market, with investments from several multinational manufacturers, particularly in countries such as Japan, China, and India.

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The stevia market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted strategies such as acquisitions & mergers, new product developments, and expansion & investments. Prominent players profiled in the report include Cargill (US), Ingredion Inc. (US), PureCircle Ltd. (Malaysia), and Tate & Lyle PLC (UK).

96

Latest Innovation in Global Prebiotic Ingredients Market

The report "Prebiotic Ingredients Market by Type (Oligosaccharides, Inulin, and Polydextrose), Application (Food & Beverages, Dietary Supplements, and Animal Feed), Source (Roots, Grains, and Vegetables), and Region - Global Forecast to 2023" The Prebiotic Ingredients Market Is Projected To Account for USD 7.4 Billion By 2023 Consumers are increasingly becoming health conscious and prefer spending on food products that are health-enriching and enhance their digestion. Due to the increasing demand for digestion-friendly food products, manufacturers are increasingly utilizing prebiotic ingredients. According to MarketsandMarkets, the prebiotic ingredients market is projected to account for a value of USD 7.4 billion, recording a CAGR of 10.4%.

Prebiotic ingredients act as multifunctional ingredient

Prebiotic ingredients act as food for probiotic bacteria present in the human and animal gut that eventually modify the colonic microflora, and stimulate the growth of non-pathogenic bacteria, particularly Lactobacilli and Bifidobacterium. According to the FAO, usage of prebiotic ingredients in food products has helped balance the intestinal flora. Prebiotic ingredients include fructooligosaccharides, galactooligosaccharides, inulin, mannanoligosaccharides, and xylooligosaccharides that have multifunctional properties and are associated with various health benefits such as improved gut health, cardiovascular health, bone health, and immunity. Thus, the multifunctional nature of prebiotic ingredients coupled with proven health benefits drive the prebiotic ingredients market growth as multifunctionality will lead to the use of these ingredients in multiple applications and will broaden the market coverage.

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High manufacturing and R&D cost

The extraction process of prebiotics from vegetables and plants includes methods such as Fourier transform infrared (FTIR), thin layer chromatography (TLC), high-performance liquid chromatography (HPLC), and spectro-photometry methods, which all involve high R&D investments. Due to high R&D costs involved in the manufacture of prebiotic ingredients as compared to probiotic ingredients, there is a relatively large market visibility for probiotic ingredients, though both prebiotics and probiotics are equally beneficial to human and animal health.

Substantial investments in R&D activities and investments in laboratories, research equipment, and hiring trained professionals that require high investment for the development of prebiotic ingredients. Prebiotic ingredient applications are linked with health benefits which make it challenging for manufacturers to get an adequate return on investments on high initial investments.

Growth in the demand for prebiotic ingredients in China, India, and Brazil
Nutraceutical and pharmaceutical industries, especially the API industry, have been experiencing tremendous growth in Asian region. The growth of the nutraceutical industry directly affects the prebiotic ingredients industry as the consumer preference in recent years is toward consuming dietary supplements and natural products for maintaining a healthy diet. Stated by Sarah Stanely, vice president, business development, Friesland Campina, “Asia Pacific was by far the most active region in prebiotic products for galactooligosaccharides, yielding 57% of new products, versus 38% in EU, and 5% elsewhere. New product development was driven by new companies as well as existing players.”

Prebiotic ingredients find their major application in infant nutrition; in Asia, the number of children affected by stunting under 5 years of age is the highest among South America, Africa, and Oceania. Many companies are investing in R&D for developing prebiotic products for infant nutrition in this region. The untapped markets in this region have wide availability of cheap labor, advanced technology, and less effective regulations regarding the usage of prebiotics as compared to North American and European countries. The leading market players are also expanding their facilities in China, India, and Brazil, considering the future potential demand in these markets.

This report includes estimations of the market size in terms of value (USD million) and volume (kilotons). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global prebiotic ingredients market and to estimate the size of various other dependent submarkets in the overall market. The key players in the market have been identified through secondary research, some of the sources are press releases, paid databases such as Factiva and Bloomberg, annual reports, and financial journals; their market share in respective regions have also been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources. The figure below shows the breakdown of profiles of industry experts that participated in the primary discussions.

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The key players that are profiled in the report include BENEO (Germany), Cargill (US), DuPont (US), FrieslandCampina (Netherlands), Ingredion (US), Samyang Genex (South Korea), Nexira (France), Beghin Meiji (France), Royal Cosun (Netherlands), Yakult Pharmaceutical (Japan), and Fonterra (New Zealand).

95

Food Testing Kits Market to Record Steady Growth by 2022

The food testing kits market is estimated to be valued at USD 1.68 billion in 2017, and is projected to reach USD 2.38 billion at a CAGR of 7.2% from 2017 to 2022. This market is driven by the increasing occurrences of foodborne illnesses, globalization of food trade, and increasing focus on the implementation of stringent food safety regulations in developed countries. Faster and reliable test results provided by food testing kits are increasing its demand further supporting the growth of food testing kits market. Also, there are multiple advantages of test kits over other testing technologies. This has resulted in an increase in the demand for food testing kits.

The key market players adopted strategies such as new product & technology launches, expansions, acquisitions, agreements, collaborations, and mergers & partnerships to meet the growing demand for food testing kits.

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Thermo Fisher (US), Agilent (US), Eurofins (Luxembourg), bioMérieux (France), and Neogen (US) are the major players in this market. Other active players in the industry include PerkinElmer (US), Bio-Rad (US), QIAGEN (Germany), EnviroLogix (US), IFP Institut Für Produktqualität (Germany), Romer Labs (Austria), and Millipore Sigma (US).

Thermo Fisher is one of the leading food testing kits providers, owing to its strong global presence and product offerings. The company focused on increasing its geographic presence through acquisitions and expansions to meet market demand between 2012 and December 2017. In September 2016, Thermo Fisher opened its new global headquarters in Waltham, Massachusetts, US. This new facility is 286,000 square-feet in area and is established according to green building rating systems, which provides it eligibility for LEED (Leadership in Energy & Environmental Design) silver certification. In March 2017, Thermo Fisher acquired Core Informatics LLC (US) a leading provider of the cloud-based platform supporting scientific data management. It will strengthen Thermo Fisher’s existing informatics solutions, which will enhance the company’s offering of genetic analysis, qPCR, and proteomics systems.

Eurofins is another leading player in the market due to its wide range of food testing kit products. The company capitalizes on a portfolio of 150,000 reliable analytical methods that enable it to offer services that characterize the safety, identity, purity, composition, authenticity, and origin of products and biological substances. It has adopted expansions and acquisitions as key strategies to increase its geographic network. In May 2016, Eurofins acquired the food, water, and pharmaceutical testing businesses of Exova (UK) in the UK and Ireland for USD 20.4 million to strengthen its footprint and expand its clientele in the region.

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Asia Pacific is projected to be the fastest-growing region from 2017 to 2022, due to its large market base for the meat and dairy industries due to the presence of a large number of consumers and presence of a large number of food adulteration incidences. The growth of this segment is also driven by the increasing export activities in this region, which need onsite testing and faster test results to meet the standards & regulations enforced by different countries and regions.

94

Complex Fertilizers Market to Showcase Continued Growth in the Coming Years

The complex fertilizers market is projected to reach a value of USD 54.32 billion by 2022, at a CAGR of 6.5% from 2017 to 2022. The market is driven by factors such as the need to increase productivity and level yield and fertilizer strength gaps across regions, rise in awareness regarding soil profile, and nutritional balance, backed by state support. Advanced farming technologies ensure safe and reliable application of complex fertilizers, which improves plant health and minimizes nutrient deficiency in crops.
Increasing investments by key players in partnerships and agreements for expansion of new markets in complex fertilizers, along with the increased expenditure on innovating new and cost-effective production processes of complex fertilizers is expected to change the business landscape in the next five years.

Based on type, the incomplete complex fertilizers segment accounted for the largest market in the year 2016. Diammonium phosphate and mono ammonium phosphate are the most effective means of increasing crop yield and has a major impact on the productivity of the crop.

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Based on crop type, the oilseeds segment is projected to grow at the highest growth rate in the global complex fertilizers market from 2017 to 2022. This high growth of the oilseeds segment is attributed to increase in the production of nutritive food as awareness about the advantages of nutritional food is increasing around the globe, which in turn is projected to drive the demand for oilseed products.

Based on form, solid complex fertilizers were the most widely used, these fertilizers provide greater stability and are easy to use. Key industrial players are expanding their operations in emerging markets to increase their geographical presence and customer base. Global complex fertilizer manufacturers are actively involved in the implementation of various R&D activities to discover novel solid complex fertilizer products.

South America is the fastest-growing region in the complex fertilizers market due to the increase in demand for food products and the availability of arable land and the expansion of farmlands, especially in Brazil, Argentina, and Chile, ensuring the growth of this market in the region. South American countries are shifting toward technological advancements in agriculture, which in turn drives the market for complex fertilizers. The Asia-Pacific region accounted for the largest market for complex fertilizers in 2016 since a major section of the population in this region is engaged in agricultural practices. The Chinese market for complex fertilizers accounted for the largest share of the Asian-Pacific market in 2016.

The key players in this market have been developing a range of innovative products to target specific needs of the end users of complex fertilizers. They continue to expand and invest to increase their market share across different countries. These players also adopted acquisitions, expansions, new product launches, and agreements with leading and other local companies, to enhance and strengthen their geographical reach.

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The key players in the market include Yara International ASA (Norway), Agrium Inc. (Canada), Coromandel International Limited (India), CF Industries Holdings, Inc. (U.S.), PhosAgro (Russia), and Potash Corp. of Saskatchewan Inc. (Canada).

93

Latest Regulatory Trends Impacting the Organic Fertilizers Market

The organic fertilizers market is projected to reach a value of USD 11.16 billion by 2022, at a CAGR of 12.08% from 2017 to 2022. The market is driven by factors such as increasing land area under organic cultivation and advancements in organic fertilizers’ manufacturing process. Increasing size of potential consumer base, which drives the demand for organic fertilizers through organic food consumption present organic fertilizers providers with lucrative opportunities.

Increase in consumer willingness to spend on organic foods, increasing area under cultivation due to farmers’ preference towards organic cropping owing to favorable pricing of products, and growing agricultural land area under organic cultivation is expected to change the business landscape over the next five years.

On the basis of source, the animal segment is projected to be the fastest-growing segment during the forecast period. The awareness about the nutritional benefits of the animal-based organic fertilizers has resulted in an increased usage of these fertilizers in the recent years.

On the basis of crop type, the fruits & vegetables segment is estimated to be the fastest-growing segment during the forecast period. As the demand for organic fruits & vegetables is increasing, growers need to produce more in the limited organic land area, owing to which the application of organic fertilizers in fruits & vegetables is increasing.

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On the basis of form, the dry segment is the most widely used form in the global organic fertilizers market while liquid projected to be the faster-growing segment. Liquid fertilizers have the characteristic of rapid absorbability by soil, which in turn ensures that nutrients reach crops faster than other forms of fertilizers. Such benefits have resulted in new opportunities for the organic fertilizers industry.

The fastest-growing market for organic fertilizers is projected to be Asia-Pacific between 2017 and 2022. Agriculture is one of the major occupations in the Asia-Pacific region; a number of farmers in the region are engaged in agriculture with more than 26 million hectares of organic land, thereby leading to an increased demand for organic fertilizers for higher quality & safe organic foods.

Prominent players in this market are Tata Chemicals Ltd (India), The Scotts Miracle-Gro Company (U.S.), Coromandel International Limited (India), National Fertilizers Limited (India) and Krishak Bharati Cooperative Limited (India). Other significant players include Midwestern BioAg (U.S.), Italpollina SpA (Italy), ILSA S.p.A (Italy), Perfect Blend, LLC (U.S.), and Sustane Natural Fertilizer, Inc. (U.S.).

These players have adopted various strategies such as mergers & acquisitions, expansions, and agreements, to strengthen their geographical reach in the organic fertilizers market. The major opportunities in the organic fertilizers market include increasing the size of the potential consumer base, which drives the demand for organic fertilizers through organic food consumption. These opportunities have induced the fertilizer manufacturers to use and manufacture new and better quality organic fertilizers products.

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92

Grain Protectants Market Growth Opportunities by 2023

The grain protectants market is estimated to be USD 572.7 million in 2018 and is projected to reach USD 726.1 million by 2023, growing at a CAGR of 4.86% from 2018. The grain protectants market is driven by the need to reduce grain losses during storage and the growing market pressure on farmers to gain better grain prices during the post-harvest stage. However, the increasing insect pest resistance to certain active substances and stringent regulations on maximum residue levels (MRLs) emphasize the need to develop new active substances that are more effective and less hazardous to the environment and human health. Investment in R&D for the introduction of new products would be an area of focus in coming years, due to the increasingly positive effects of some biologically sourced products such as INSECTO and Protect-It. These products contain diatomaceous earth (silicon dioxide) and are recognized as an essential component of Integrated Pest Management (IPM) for stored products.

Certain pest species have developed resistance to chemicals such as organophosphates, pyrethroids, carbamates, and certain other agents such as methoprene and even the biological agent Bacillus thuringiensis. There have been perilous situations in certain regions wherein the insect populations have developed multiple resistance abilities toward protectant chemicals, leaving no options for the use of any effective protectants.
The increasing cost of development and registration of active ingredients would have impact on the market growth,. Currently, a gradual shift is being witnessed from chemical-based pest management to IPM systems, owing to the biological, economic, and sociological influences.

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In terms of control methods, the chemical segment is projected to grow at the highest rate from 2018 to 2023, owing to the higher prices and effectivity of chemicals. However, the safety of stored grains cannot depend on a single method due to several factors surrounding post-harvest storage. These factors include pest infestations, pest resistance to the grain protectant chemicals, climatic conditions, and storage conditions. Thus, advanced systems such as integrated pest management (IPM) would be effective in maintaining the quality of stored grains for a longer period.

North America is projected to be the fastest-growing region in the grain protectants market from 2018 to 2023. The region has a major presence of grain protectant manufacturers and has a high demand for corn-based products. Multinational companies are also focusing on marketing their products and services of grain protectants in these regions, through expansions and new product launches, to gain a larger share of the market. Entostat, a proprietary wax micro powder product manufactured by Exosect, has shown unique electrostatic properties.

These natural physical properties have the ability to enhance the target delivery platform for synthetic and biological active ingredients. IPM involves managing the pest population through physical and biological control method techniques; and most of the times, the intervention through chemical insecticides is also required. Various other approaches in the IPM can be utilized for efficient management of insect pests in stored grains. Therefore, strong adoption of IPM practices globally could prove to be a good opportunity for the growth of the grain protectants market.

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The global market for grain protectants is dominated by key players such as Bayer (Germany), Sumitomo Chemical (Japan), BASF (Germany), Nufarm (Australia), UPL (India), and DowDuPont (US). These players adopted growth strategies such as expansions and new product launches to gain a larger share of the grain protectants market. Some other key players in the market are Syngenta (Switzerland), FMC Corporation (US), Degesch America (US), Arysta LifeScience Corporation (US), Central Life Sciences (US), and Hedley Technologies (Canada).

91

Sustainable Growth Opportunities in the Vitamins Market

The report "Vitamins Market by Type (Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, and Vitamin K), Application (Healthcare Products, Food & Beverages, Feed, and Personal Care Products), Source (Synthetic and Natural), and Region - Global Forecast to 2023", The vitamins market is estimated to be valued at USD 5.18 billion in 2018 and is projected to reach USD 7.35 billion by 2023, at a CAGR of 7.3%. The market is driven by the growth in demand for functional and nutritionally enriched processed food products, the prevalence of vitamin deficiencies, and feed fortification due to a rise in global meat & dairy product consumption.

The Vitamin C segment is projected to be the fastest-growing segment during the forecast period.

The vitamin C segment, by type, is projected to be the fastest-growing segment. The increasing focus of consumers on health and wellbeing, along with multiple benefits provided by vitamin C such as faster healing of wounds and maintenance of skin, eye health, and immune system provides an opportunity to this segment for increased growth.

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The healthcare products segment is estimated to dominate the market in 2018.

The healthcare products segment, by application, is estimated to dominate the market during the forecast period. Rapid urbanization has led to changes in consumer lifestyles. Vitamins are gaining traction in the healthcare industry, as there is an increased focus on preventive health care. Further, vitamins are also known to sustain human health during various disorders and ailments such as diabetes, cardiovascular disease (CVD), Alzheimer’s, multiple sclerosis (MS), and the common cold.

The synthetic segment is set to dominate the market by 2023.

The vitamins market, by source, is projected to be dominated by the synthetic segment, which is projected to grow at the higher rate during the forecast period. Synthetic vitamins are chemically synthesized and produced largely from coal tar derivatives and petroleum extracts. They are widely preferred by end-user industries because of their ability to remain stable for a longer period of time and also because of the low costs associated with them in comparison with naturally sourced vitamins.

Asia Pacific is projected to be the fastest-growing market during the forecast period.

The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023. The incidences of regular and chronic diseases in this region are high. This has led to an increased focus on preventive health care, which has resulted in high consumption of healthcare products and fortified & functional food products with essential nutrients such as vitamins. Also, the market for vitamins in Asia Pacific is experiencing high growth due to its growing application in the feed industry, as the region accounts for the largest livestock population and caters to significant demands of livestock-based products such as milk, egg, and meat.

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This report includes a study of marketing and development strategies, along with a study of the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Koninklijke DSM N.V. (Netherlands), Glanbia plc (Ireland), ADM (US), BASF (Germany), Lonza Group (Switzerland), Vitablend Nederland B.V. (Netherlands), SternVitamin GmbH & Co. KG (Germany), Farbest-Tallman Foods Corporation (US), Watson Inc. (US), Zagro (Singapore), The Wright Group (US), Rabar Pty Ltd. (Australia), Adisseo (France), Showa Denko K.K. (Japan), and BTSA BIOTECNOLOGíAS APLICADAS S.L (Spain).

90

Feed Additives Market: Competitive Landscape, Regional Outlook and Driving Factors

Feed additives are products such as amino acids, phosphates, vitamins, enzymes etc. that are used in animal nutrition for purpose of improving the quality of feed and the quality of food from animal origin, or to improve the animals’ performance and health, e.g. providing enhanced digestibility of the feed materials. The feed additives market is projected to grow from USD 33.0 billion in 2018 to USD 44.3 billion by 2023, at a CAGR of 6.1% during the forecast period. This is attributed to the growth in the feed production and technological innovations and the adoption of advanced animal husbandry practices.

Increase in demand and consumption of livestock-based products such as dairy & dairy-based products, meat, and eggs is expected to drive the usage of feed additives in feed for the growth and development of farm animals. According to FAO data, it has been stated that the global meat production is projected to be 16% higher by 2025. Poultry meat is the primary driver for the growth of the overall meat production, owing to its high demand, low production cost, and lower product prices, both in developed and developing countries. Furthermore, owing to the increasing awareness about the role and dynamics of food nutrients, especially protein, on overall physical and mental growth and development, there is a growing trend toward animal-sourced protein in the form of either meat, eggs, or milk. This drives the usage of feed additives in feed as it increases its nutritional quality.

Increase in demand for nutritional supplements for monogastric animals provides as an opportunity for the growth of feed additive market. As monogastric animals cannot synthesize vitamin B complex compounds within their body, as compared to ruminants, there is a considerable demand for vitamin and mineral supplements in this sector. These sectors are witnessing better growth in the developing markets of the Asia Pacific and South American regions.

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Increase in demand for nutritional supplements for monogastric animals as an opportunity for the growth of feed additive market

As monogastric animals cannot synthesize vitamin B complex compounds within their body, as compared to ruminants, there is a considerable demand for vitamin and mineral supplements in this sector. Key players are establishing their market presence in the poultry and swine sectors due to the organized development of these sectors. These sectors are witnessing better growth in the developing markets of the Asia Pacific and South American regions. Globally, Asia Pacific ranked first in feed production in 2017, according to the Alltech Global Feed Survey results. China is a global leader in the compound feed market that witnessed an annual volume production of over 187 million tons in the year 2017, according to the 2018 Alltech Global Feed Survey results. Due to the increase in the demand for compound feed in these regions, there has been a considerable demand for additives in these developing markets.

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Asia Pacific is projected to account for the largest market share during the forecast period

The Asia Pacific market accounted for the largest share in the global market. The large market share in this region is attributed to the presence of large livestock population and growth. Furthermore, the increase in the number of feed mills in the region reflects the growth in feed production. The largest feed producer, China, contributes significantly to the region’s leading position, with Thailand and Indonesia being the emerging feed producing countries, while India and Japan are demonstrating constant growth in feed production.

89

Key Trends Shaping the Food Safety Testing Market

The report “Food Safety Testing Market by Target Tested (Pathogens, Pesticides, GMOs, Mycotoxin, and Allergens), Technology (Traditional and Rapid), Food Tested (Meat, Poultry, Seafood, Dairy, Processed Foods, and Fruits & Vegetables), and Region-Global Forecast to 2023″, published by MarketsandMarkets™. Consumers are becoming more sensitive about the impact of food products on their health. With the increasing prevalence of various diseases across regions, consumers are diverting their expenditure toward food products that are certified for their safety and quality. To align with consumer preferences and requirements, manufacturers are focusing on allocating their investments on food safety testing services to ensure the safety of consumption. By 2023, the food safety testing market is projected to reach USD 24.6 billion, recording a CAGR of 7.7% from 2018.

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The European market accounted for the largest share in the food safety testing market. European countries have recorded many issues related to food safety over the past few years. As a result, stringent policies have been regulated to implement complete food safety for the public. In Europe, food safety policies have been emphasized by efforts from Control Laboratories (CLs), National Reference Laboratories (NRLs), and EU Reference Laboratories (EURLs). These authorities have played an important role in maintaining food standards and protecting consumer health by ensuring the quality of the food supply chain. Asia Pacific region is projected to be fastest growing market during the forecast period. The growth in the market is attributed to the growing international trade which has mandated food safety testing to comply the regulatory standards. Governments from different countries in the region have put various regulations in place for consumers, producers, and regulators to ensure the food safety and quality which in turn is fueling food safety testing market.

Stringent food safety regulations
Growing complexities in the food supply chain, economically motivated malpractices, instances of adulteration, lack of adoption of proper hygiene & sanitation practices during production, transportation & storage, lack of awareness about allergens, instances of cross-contamination, non-compliance with labeling laws, and other such factors have resulted in increasing instances of contamination of food products and are responsible for large-scale outbreaks of illnesses and poisoning in humans. This has caused severe concerns among producers, end consumers, regulatory authorities, and other industry stakeholders.

Globalization in food trade

Globalization has had a major impact on food supply worldwide and has increased the global import & export of food products and agricultural commodities. This has further increased the risk of unsafe food reaching consumers in distant markets due to instances of cross-contamination, exposure to toxins, microorganisms, and other contaminants. Due to this increase in food supply trade and inefficient supply chains, food spoilage becomes an important concern. Globalization has also resulted in increased involvement of food supply members such as suppliers, distributors, operators, producers, and consumers. Suppliers receive the food safety guidelines, and the operators set the quality expectations, while the distributors act as an intermediary between the suppliers and operators. The producers receive food safety standards and guidelines from suppliers, while the consumers set the food safety and quality expectations for the operators.

Rise in consumer awareness about food safety

Consumer awareness plays a vital role in implementing the quality and safety procedures of food products through various means, such as labeling, claims, and nutritional facts. Consumers have been educating themselves regarding food-related issues, such as various contaminants, allergens, physiological reactions due to toxins, and effects of processed and stored food on the body through various social media platforms and consumer regulatory acts. Consumer awareness has also been growing with the increased media focus on food safety concerns. Media attention on the information related to consumer demand for food safety has led food producers, manufacturers, and processors to respond to these issues. The shifting demographics and rising consumer awareness highlight the need to make food safety a priority. Consumer demand for imported seasonal products and RTE food has been increasing.

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Some of the leading players in this market include Eurofins (Luxembourg), Bureau Veritas (France), ALS Limited (Australia), Intertek (UK), and SGS (Switzerland).

Ongoing advancements in technology have encouraged key companies and market leaders to focus on offering products with food safety labels, to retain customer loyalty and enhance their presence across regions. These factors, together, are likely to provide the necessary impetus for the growth of the global food safety testing industry over the forecast period.

88

Opportunities for New Market Entrants Soil Amendments Market

The report "Soil Amendments Market by Type (Organic and Inorganic), Soil Type (Loam, Clay, Silt, and Sand), Crop Type (Cereals & Grains, Fruits & Vegetables, and Oilseeds & Pulses), Form (Dry and Liquid), and Region - Global Forecast to 2025", published by MarketsandMarkets, is estimated to be valued at USD 3.7 billion in 2020 and is projected to reach a value of USD 6.2 billion by 2025, growing at a CAGR of 10.7% during the forecast period. Factors such as the ease of availability of raw materials for humic substances, growing awareness about soil management, and desertification of land are projected to drive the growth of the soil amendments market.

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The loam segment is projected to be the largest segment in the soil amendments market during the forecast period.

Loamy soil is a mixture of sand, silt, and a lesser amount of clay particles. It has high calcium content and aeration capacity. It is rich in nutrients obtained from decomposed organic matter. This soil is commonly suitable for most crops and vegetables. In addition, loamy soil has moderate water retention capacity and is widely available across regions, due to which this segment is projected to dominate the market.

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106 - Tables
38 - Figures
161 - Pages

The biofertilizers segment is estimated to account for the largest market share, in terms of value, in 2020.

Among organic soil amendments, the biofertilizers segment is estimated to account for the largest market share in 2020. Biofertilizers are offered at low prices and are applied in small dosages, in comparison with chemical fertilizers. Besides affecting the crops directly, they increase the population of soil microorganisms. They also secrete plant hormones, which favor germination and root growth. Phosphate solubilizing and mobilizing biofertilizers secrete organic acids and lower the pH in the nearby soil, which dissolves phosphates in the soil. Due to these benefits, biofertilizers are highly adopted in all organic amendments.

The fruits & vegetables segment, on the basis of crop type, is estimated to account for the largest market share, in terms of value, in 2020.

Vegetable crops are sensitive to water shortage. To increase the water-holding capacity of soils, growers use various soil amendments. The application of biofertilizers as soil amendments for fruits & vegetables helps to improve the quality, shelf life, and yield of fruits & vegetables. In addition, organic soil amendments are effective in increasing the water-holding capacity of soil used for nursery crops and floriculture in greenhouses by reducing the frequency of irrigation. Crops grown in greenhouses with sand or media with low organic matter are remediated using organic soil amendments.

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North America is projected to grow at the highest CAGR during the forecast period.

In North America, the main cause of soil degradation is the increase in industrial activities. According to a report published by Cornell study 2017, in the US, soil disappears ten-times faster than it is naturally replenished, at an estimated rate of nearly 1.7 billion tons of farmland per year. This will increase the application of soil amendments in the North American region. Furthermore, the presence of a high number of superfund sites, large & small mining sites, landfills, and industrial sites, such as refineries, smelters, foundries, milling & plating facilities, and other sites, contaminate and degrade the soil. This is a major factor encouraging the use of soil amendments in the North American countries, particularly the US.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the soil amendments market. It includes the profiles of leading companies, such as BASF (Germany), Bayer (Germany), UPL Limited (India), FMC Corporation (US), ADAMA Agricultural Solutions (Israel), Nufarm (Australia), Evonik Industries AG (Germany), Novozymes A/S (Denmark), Agrinos (Norway), T.Stanes & Company (India), Lallemand, Inc. (Canada), SA Lime & Gypsum (South Africa), Timac Agro (France), Biosoil Farms (US), Profile Products LLC (US), The Fertrell Company (US), Haifa Group (Israel), Symborg (Spain), Soil Technologies Corporation (US), and Delbon (France).

87

Upcoming Growth Trends in the Membrane Filtration Market

The global membrane filtration market is estimated to be valued at USD 13.5 billion in 2019 and is projected to reach USD 19.6 billion by 2025, at a CAGR of 6.4% from 2019 to 2025. The demand for membrane filtration is significantly increasing due to factors such as rapidly growing dairy industry, stringent regulations for water safety & filtration, and rising demand for premium products. High set-up costs inhibit the growth of membrane filtration market. The Asia Pacific region is projected to hold the largest market owing to the usage of membrane filtration in water processing plants for purification and the dairy and food industries for pasteurization, sterilization, and concentration processes.

The membrane filtration market, based on type, constitutes of four segments, namely reverse osmosis (RO), ultrafiltration (UF), microfiltration (MF), and nanofiltration (NF). The reverse osmosis (RO) segment is projected to grow at the highest CAGR as it is used to remove the harmful contaminants from water by increasing the pressure on the water to move through a semi-permeable membrane. Also, reverse osmosis (RO) offers high efficiency in terms of water purification; it can typically remove up to 99% of most of the mineral contaminants. Thus, RO witnesses a huge demand for water purification purposes as well.

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Membrane filtration market, based on application, is segmented into water & wastewater and food & beverages. The food & beverages segment is estimated to grow at the highest CAGR as membrane filtration technology is gaining significant acceptance in the food & beverage industry for increasing the safety, quality, and shelf-life of the food & beverage products. The major functions of membrane technology in the food industry, along with desalination include standardization, concentration, clarification/separation, and fractionation.

Membrane filtration market, by module design, is segmented into the spiral wound, tubular systems, and plate & frame and hollow fibers. The tubular systems segment is estimated to grow at the highest CAGR due to their extensive usage in water applications, as they are highly efficient in removing contaminants and producing high-quality processed water. Apart from water, tubular system modules are steadily gaining ground in the dairy and wine industries. In dairy applications, they are used for the reduction of bacteria in milk, whey, whey protein concentrates, and brine. In the wine industry, they are used for the filtration of wine.

The membrane filtration market, based on membrane material, constitutes of two segments, namely polymeric and ceramic. The ceramic segment is projected to grow at the highest CAGR due to the high resistance offered by this type to extreme temperature conditions and chemicals. Due to properties such as extremely high chemical and physical stability, long lifespan, and effective separation, the ceramic membrane is majorly utilized in the water processing industry. Further, these membranes are also used in the food & beverage industry for several applications such as clarification of juice and beer, dewatering of products, sterilization of milk and whey, the concentration of juices, and desalination of whey.

Increasing instances of waterborne diseases and growth potential in Asian and Middle Eastern markets prove to be some of the opportunities in this market.

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The key players profiled in the membrane filtration market include DowDuPont (US), Suez Water Technologies and Solutions (US), Alfa Laval AB (Sweden), GEA Group AG (Germany), Pall Corporation (US), 3M Company (US), Koch Membrane Systems Inc (US), Veolia (France), SPX Flow, Inc. (US), Prominent GmbH (Germany), Pentair Plc. (US), and Porvair Filtration Group (UK). These companies are focusing on strategies such as new product launches, expansions, mergers & acquisitions, and agreements & partnerships to expand their operations across the globe.

86

Stevia Market to Record Steady Growth by 2022

Stevia is a white powder composed of one or more intensely sweet glycosides derived from the leaves of stevia; it finds use as a non-caloric sweetener in various applications such as dairy, bakery & confectionery, tabletop sweetener, beverages, and convenience foods. The key drivers for the market’s growth are changes in consumer lifestyles, preferences for zero-calorie beverages, and increase in demand for natural sugar alternatives. Growth in demand for stevia and increase in per capita consumption of beverages incorporating stevia are driving the stevia market.

Among the types of stevia extracts, powdered & whole leaf extracts are widely used in the food & beverage industry and face high demand in North America and developing Asia-Pacific markets. Increase in demand for healthier, innovative products, and sugar alternatives are driving the growth for stevia in the emerging markets of the Asia-Pacific, South America, and the Middle East.

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Urbanization and the changes in diet styles influence the market for stevia-based products in the Asia-Pacific region. Moreover, in the U.S., the stevia market is highly fragmented and is growing at a fast pace owing to factors such as use of high-quality natural ingredients and specialization of stevia products to meet the changing consumer demands for healthy foods & beverages.

Increased demand for tabletop sweeteners in developed European countries such as Germany, the U.K., and France, has, in turn, increased the demand for stevia. Asia-Pacific accounted for the largest share in the global stevia market in 2016. The Asia-Pacific market is projected to grow at the highest CAGR, in terms of both value and volume, from 2017 to 2022. Japan accounted for the largest country-wise market share in the Asia-Pacific region in 2016, followed by China.

The U.S. and Japan accounted for the two major stevia consumers, globally, in 2016.
Based on application, the tabletop sweeteners segment is projected to progress at the highest CAGR during the forecast period (2017 to 2022), whereas, on the basis of extract type, the whole leaf extract segment is projected to grow at the highest CAGR during the forecast period.

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The stevia market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted strategies such as acquisitions & mergers, new product developments, and expansion & investments. Prominent players profiled in the report include Cargill (US), Ingredion Inc. (US), PureCircle Ltd. (Malaysia), and Tate & Lyle PLC (UK).

85

Feed Enzymes Market to Showcase Continued Growth in the Coming Years

The report “Feed Enzymes Market by Type (Phytase, Carbohydrase, and Protease), Livestock (Poultry, Swine, Ruminants, and Aquatic Animals), Source (Microorganism, Plant, and Animal), Form (Dry and Liquid), and Region – Global Forecast to 2025”, published by MarketsandMarkets™, size is projected to reach USD 1.9 billion by 2025, which was estimated at USD 1.3 billion in 2020; it is expected to grow at a CAGR of 8.1% from 2020. One of the major factors driving the feed enzyme industry is the provision of cost-efficiency in the use of feed. Also, the increasing demand for animal-based products, such as meat products, dairy products, and eggs, and the rise in the global demand for naturally produced feed additives have been driving the growth of this market.

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The feed enzymes market includes major Tier I and II suppliers like BASF SE, DowDu Pont, Koninklijke DSM N.V, Bluestar Adisseo, and Kemin Industries. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. Though COVID-19 has impacted their businesses as well, there is no significant impact on the global operations and supply chain of their feed enzymes. Multiple manufacturing facilities of players are still in operation. The international trade barriers, closure of restaurants, hotels, and live animal markets, supply chain hindrances, consumption patterns of livestock-based products were considered to be mildly significant, which has disrupted the market for feed enzymes. However, the demand for feed enzymes in the livestock industry is likely to increase in the first and second quarters of the year 2020 as many farmers resorted to panic buying of feed additives in anticipation of potential shortages.

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264 – Pages

The phytase segment, by type, is projected to dominate the feed enzymes market during the forecast period.

Phytases are digestive enzymes that release plant phosphorus from phytic acid; monogastric animals, such as poultry birds, lack sufficient phytases to release this phosphorus. Adding extra phytases to the diet increases phytate breakdown and consequent utilization of plant phosphorus. According to DuPont, one of the major feed enzyme manufacturers, phytases are the most widely used type of feed enzymes in the world, included in 90% of poultry and 70% of swine diets. This segment accounted for the highest share in 2020 at a global level. Thus, increasing phytic acid degradation and the need to improve the availability of plant phosphorus could offer major benefits for poultry and swine producers, including lower levels of inorganic phosphorus inclusion in diets, reduced feed costs, and better sustainability of animal production.

The poultry segment, by livestock, is projected to witness the highest growth in the market

The poultry segment is projected to grow at the highest rate during the forecast period since there is intensive usage of feed enzymes in the broiler feed, which influences high tender meat production. Poultry does not produce enzymes for hydrolysis of non-starch polysaccharide present in the cell wall of grains, and they remain un-hydrolyzed. This results in low feed efficiency. Feed enzymes break down the NSPs, decrease intestinal viscosity, and eventually improve the digestibility of nutrients by improving gut performance. Poultry in the Asia Pacific region is also witnessing an ever-increasing demand, as consumers are adding white meat instead of red meat to their diets. Additionally, poultry population growth, which has doubled in the last two decades, according to the Food and Agriculture Organization of the United Nations (FAO), is supporting the high growth rate of the poultry segment.

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Asia Pacific is estimated to be the largest and fastest-growing market.

Asia Pacific dominated the global feed enzymes market in 2019; this has been supported by the presence of a large livestock population (FAO 2016) and the growth rate. Also, livestock producers in China and India are focusing on animal health by resorting to natural solutions.

Additionally, there has been a rise in the demand for meat and meat products, in accordance with the need for a protein-rich meat diet. The market for poultry is estimated to increase in India and China due to factors such as the focus on meat quality and public health campaigns, which encourage the consumption of lower-fat protein options. Fish consumption is also increasing in the region owing to similar health trends. On the other hand, there has been an increase in production as well as consumption of dairy products in the region. These factors are expected to drive the feed enzymes market in the Asia Pacific region.

The major vendors in the global feed enzyme market are BASF SE (Germany), DowDu Pont (US), Koninklijke DSM N.V (Netherlands), Bluestar Adisseo (China), and Kemin Industries (US).

84

Growth opportunities and latent adjacency in Fungicides Market

The report “Fungicides Market by Type (Chemical and Biological), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Mode of Action (Contact & Systemic), Mode of Application, Form, and Region - Global Forecast to 2025" , published by MarketsandMarkets. The global fungicides market is estimated to be valued at USD 18.7 billion in 2019 and is projected to reach a value of USD 24.5 billion by 2025, growing at a CAGR of 4.6% during the forecast period. Factors such as the increase in demand for food security by the growing population and advancements in farming practices & techniques are projected to drive the growth of the fungicides market.

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The liquid segment is projected to be the largest segment in the fungicides market during the forecast period.

Liquid forms can be water-based, oil-based, polymer-based, or their combinations. Water-soluble liquids (SL) are liquid formulations based on technical materials, which are insoluble in water and contain 36%–85% technical materials and solvents. Oil-based forms such as oil dispersions, which include EW (oil in water) & EO (water in oil) and emulsifiable concentrates, provide stable emulsions for foliar application. The emulsifiable concentrates (EC) are liquid formulations based on technical materials, which are not soluble in water and consists of 25%–80% technical materials, solvents, and emulsifiers.

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108 - Tables
55 - Figures
226 - Pages

The triazoles segment is estimated to account for the largest market share, in terms of value, in 2019.

Triazole fungicides, also known as sterol inhibitors (SIs), are a large class of fungicides used globally on a wide variety of crops. Their mode of action is the inhibition of ergosterol production, which is an essential sterol in the membranes of most fungi. Triazoles are used to control several diseases, such as powdery mildew, leaf spots, and rusts. The fungus then needs to form additional infection structures—an aspersorium and penetration peg. This requires the formation of new membranes and sterols, which is prevented by triazoles.

The cereals & grains segment, on the basis of crop type, is estimated to account for the largest market share, in terms of value, in 2019.

The cereals & grains segment in the market comprises different crops, such as rice, wheat, and corn. The production of cereals and grains vary across different regions, depending on the topography and climatic conditions. Due to this, the cereals & grains segment recorded the highest consumption of fungicides in the North American and Asia Pacific regions. According to the FAO, global cereal production in 2016 recorded nearly 2,543 million tons, which are around 0.6% higher than the previous year. Rice is the most widely consumed staple food, particularly in Asia. It is the second-most widely produced grain after corn.

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South America is projected to grow at the highest CAGR during the forecast period.

The market for fungicides in the South America region is projected to grow at the highest CAGR from 2019 to 2025. According to the FAOSTAT, Brazil is the largest producer of agricultural products due to the availability of abundant land and rural labor force, followed by Argentina. The growth of the South America market is majorly attributed to the increase in the adoption of agrochemicals and advancements in farming techniques in Brazil and Argentina, with the distribution channels established by global agrochemical players. Due to these factors, the market in the South America region is projected to record the highest growth from 2019 to 2025.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the fungicides market. It includes the profiles of leading companies, such as BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (US), Syngenta AG (Switzerland), FMC Corporation (US), UPL Ltd. (India), Sumitomo Chemical Co., Ltd. (Japan), Nippon Soda Co., Ltd. (Japan), Isagro S.p.A (Italy), Nufarm (Australia), Adama Agricultural Solutions Ltd. (Israel), and Nissan Chemical Corporation (Japan), Marrone Bio Innovations, Inc. (US), Koppert Biological Systems (Netherlands), Bioworks, Inc. (US), STK Bio-ag Technologies (Israel), Verdesian Life Sciences (US), Seipasa S.A. (Spain), Ishihara Sangyo Kaisha, Ltd. (Japan), and Nutrichem (China).

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Pet Food Ingredients Market: Drivers, Restraints, Opportunities, and Challenges

The report "Pet Food Ingredient Market by Ingredient (Cereals, Meat & Meat Products, Vegetables, Fruits, Fats, and Additives), Source (Animal-based, Plant-based, and Synthetic), Pet (Dog, Cat, and Fish), Form (Dry and Liquid), and Region - Global Forecast to 2025", The pet food ingredients market is estimated to be valued at USD 37.0 billion in 2019 and is projected to reach USD 54.3 billion by 2025, at a CAGR of 6.6% from 2019 to 2025. The growing pet adoption rates among the urban population and an increase in pet expenditure for premium products have been driving the pet food ingredients industry.

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The deboned meat & meat meal segment is estimated to account for the large share, in terms of value in meat & meat products segment, by ingredient, in 2019

The pet food ingredients market, by ingredient, is segmented into cereals, vegetables, fruits, fats, meat & meat products, and additives. These segments are further sub-segmented into the commonly used ingredients in pet food. The pet food industry is reliant on these ingredients for commercial pet food manufacturing, to formulate nutritionally balanced and complete pet food as per the varying nutritional needs among different pet species. The majority of these ingredients are by-products of food products manufactured for human consumption, and thus prove to be an economical solution for pet food manufacturers.

One of the emerging trends in the pet food industry is the incorporation of insects, as they are an excellent source of protein. Additionally, vegan and grain-free pet food products have been gaining popularity in the pet food industry. These trends are expected to increase the popularity of different fruits & vegetables in pet food to provide varied taste, texture, and flavor.

The cat food segment, by pet, is estimated to witness the fastest growth in the pet food ingredients market in 2019

The pet food ingredients market, based on pet, is segmented as dog, cat, fish, and others. Dogs are the most popular pets adopted, and key players are focusing on offering pet food for them to gain a significant share in the pet food ingredients market. The US witnesses the highest registration of pet dogs, which is estimated to be more than 73 million.

The demographical statistics in Asia are unreliable as pet dogs do not have to be registered in this region. However, the number of pet dogs is estimated to be nearly 110 million in China and 32 million in India. The sales of premium cat food are on the rise, and its high cost has not caused any hindrance in the growth of the premium cat food market. The increasing focus of consumers on preventive healthcare is one of the factors driving the demand for expensive and high-quality cat food in the pet food industry.

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North America dominated the pet food ingredients market in 2018, in terms of value and volume

North America accounted for the largest market share in 2017. The pet food ingredients market is consolidated in North America and dominated by several companies such as ADM, Cargill, Ingredion, SunOpta, DowDuPont, Darling Ingredients, and Kemin. In North American countries such as the US and Canada, the pet food ingredients market is driven by the expansion of production plants of leading companies and acquisitions to meet the rising demand from the pet food industry. These factors have fueled the growth of the pet food ingredients market in the North American region.

This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such ADM (US), DSM (Netherlands), Cargill (US), BASF (Germany), Ingredion (US), Roquette Frères (France), SunOpta (Canada), Darling Ingredients (US), Omega Protein Corporation (US), DowDuPont (US), Kemin (US), InVivo (France), and John Pointon & Sons Ltd (UK).

82

Key Trends Shaping the Farm Equipment Rental Market

The report "Farm Equipment Rental Market by Equipment Type (Tractors, Harvesters, Sprayers, Balers & Other Equipment Types), Power Output (250HP), Drive (Two-wheel Drive and Four-wheel Drive), Region – Global Forecast to 2025", published by MarketsandMarkets™, The global farm equipment rental market is estimated to be valued at USD 46.8 billion in 2020 and is projected to reach a value of USD 66.4 billion by 2025, growing at a CAGR of 7.3% during the forecast period. Factors such as the increase in demand for food security by the growing population, shortage of skilled labor, and increase in mechanization in developing countries are projected to drive the growth of the farm equipment rental market.

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The two-wheel-drive segment is projected to be the largest segment in the Asia Pacific farm equipment rental market during the forecast period.
The two-wheel-drive tractors are primarily used for farming in dry soil conditions, and also for transporting the field produce. Two-wheel-drive tractors are efficient and easy to use without much energy consumption. They facilitate farmers with smaller turning cycles, to access corners or smaller areas, and easy usability. These are also cheaper than the robust 4WD tractors, which makes them perfect for the use of smallholding or family farmers. As they are used in smaller areas of land, their demand is higher in the developing regions such as Asia, Africa, and the Middle East, where majority cultivation practices are undertaken by small farmers.

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111 - Tables
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181 - Pages

The tractors segment is estimated to account for the largest market share, in terms of value, in 2020.

Tractors are used in various farming activities such as plowing & cultivating, sowing & planting, threshing, and others. The demand for tractors for a rental basis by farmers is expected to boost further mechanization during the forecast period. As the population in the Asia Pacific region continues to increase at a rapid pace, countries such as India, Thailand, and Vietnam would observe a significant growth in the demand for food grains, which, in turn, will drive the farm equipment rental market in the region. The regional government authorities are making efforts to increase farm mechanization by providing additional support to the farmers.

The >250 HP segment, on the basis of power output, is projected to grow at the highest CAGR, in terms of value, in 2019.

Tractors beyond the 250 HP power range accounted for the least market share, by power output, globally. North America and Europe are the largest markets for > 250 HP farm tractors, where some global giants such as John Deere, CNH Industrial, CLAAS, and AGCO are the key suppliers. These are high-power machinery and are used for the cultivation of land extending up to thousands of hectares. Their demand only exists in the US and European regions; wherein there are large commercial farmers. They support farm processes such as harvesting and plowing.

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Asia Pacific is projected to grow at the highest CAGR during the forecast period.

The market for farm equipment rental in the Asia Pacific region is projected to grow at the highest CAGR from 2020 to 2025. The predominance of small-scale manufacturers and increasing focus on rice cultivation are also widely seen across various countries in the Asia Pacific region. Farmers in the Asia Pacific region are increasingly producing rice and crops such as palm and cotton. Further, a shift from the adoption of labor-intensive farming techniques to advanced technological equipment in the agricultural sector across the Asia Pacific countries has led to increasing demand for tractors and various farming equipment such as harvesters and spraying and threshing equipment for renting purposes.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the farm equipment rental market. It includes the profiles of leading companies, such as John Deere (US), CNH Industrial (UK), Kubota Corporation (Japan), AGCO Corporation (US), Mahindra & Mahindra (India), JCB (UK), and Escorts Ltd (India), Tractors and farm equipment’s ltd. (India), Pape Group, Inc. (US), Premier Equipment Rentals (US), Flaman Group of Companies (Canada), Pacific Ag Rentals (US), Pacific Tractors & Implements Ltd (US), Kwipped Inc. (US), Cedar street sales & rentals (US), Farmease (US), EM3 Agri Services (India), German Bliss Equipment Inc. (US), and Friesen Sales & Rentals (Canada).

81

Agricultural Micronutrients Market to Witness Huge Growth by 2025

The report “Agricultural Micronutrients Market by Type (Zinc, Boron, Iron, Manganese, Molybdenum, and Copper), By Mode of Application (Soil, Foliar, and Fertigation), Form (Chelated and Non-Chelated micronutrients), Crop Type, and Region – Global Forecast to 2025″, is estimated to be valued at USD 3.3 billion in 2019 and is projected to reach a value of USD 5.4 billion by 2025, growing at a CAGR of 8.7% during the forecast period. Factors such as the rise in micronutrient deficiencies in the soil and growing awareness about food security are projected to drive the growth of the agricultural micronutrients market.

The Zinc segment is projected to be the largest segment in the agricultural micronutrients market during the forecast period.

Zinc is required in plants for a wide range of functions such as protein synthesis, gene regulation, structure and integrity of biomembranes, protection of cells from oxidative damage, and others. Sandy, highly leached acid soil and soils having poor organic content, show lower zinc contents. The formations of essential enzymes in the plants, such as carbohydrate, protein, and chlorophyll is hampered in the zinc-deficient soils.

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The foliar segment is estimated to account for the largest share in 2019.

Foliar mode of application is widely used to apply micronutrients, particularly iron and manganese, for many crops. It is mostly used for many fruit, vegetable and flower crops. Micronutrients can be foliar applied as liquid or suspensions to crops. Soluble inorganic salts of micronutrients are useful in foliar spray and are lower in cost as compared to synthetic chelates.

Key players in the agricultural micronutrients market include BASF SE (Germany), Nutrien, Ltd. (Canada), Yara International ASA (Norway), AkzoNobel (Netherlands), The Mosaic Company (US), Valagro (Italy), and Compass Minerals International (US). Product innovations, expansions, mergers & acquisitions, agreements, collaborations, and partnerships were some of the core strengths of the leading players in the agricultural micronutrients market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Some of the other leading players in the agricultural micronutrients market include Nufarm (Australia), Land O’ Lakes (US), Coromandel International Limited (India), Helena Chemical Company (US), Sapec S.A. (Belgium), Haifa Group (Israel), Balchem (US), Stoller Enterprises (US), Zuari Agrochemicals Ltd. (India), ATP Nutrition (US), and BMS Micro-Nutrients NV (Belgium).

Nutrien Ltd. (Canada) has the largest crop nutrient product portfolio, which is combined with a global retail distribution network that includes more than 1,500 farm retail centers. Nutrien Ltd. specializes in crop nutrition and is engaged in the production and distribution of potash, nitrogen, and phosphate products for agricultural, industrial, and feed manufacturers. A subsidiary of Nutrien Ltd., Nutrien Ag Solutions is the leading provider of agricultural products and services for western Canadian growers. The company has a wide-ranging agricultural retail network that provides services to over 500,000 grower accounts. The company has a network of nearly 1,700 retail locations in seven countries, along with operations and investments in 14 countries, globally. The company has its presence in North America, South America, Europe, Asia, Africa, and Australia.

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Yara International ASA (Norway) is a leading crop nutrition company. The company’s product segment comprises ammonia, nitrates, calcium nitrate, and NPKs, with a growing portfolio of phosphates, providing the foundation for its crop nutrition and industrial solutions businesses. It provides micronutrients through its crop nutrition segment. The product offering covers both commodity and high-value crops, where it offers differentiated fertilizer products and services. The segment offers the most comprehensive crop nutrition product portfolio, ranging from standard nitrogen products to complete crop nutrition solutions.

80

Agricultural Microbials Market to Partake Significant Development During 2020 to 2025

The report “Agricultural Microbials Market by Type (Bacteria, Fungi, Virus, Protozoa), Function (Soil Amendment and Crop Protection), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Mode of Application, Formulation, and Region – Forecast to 2025”, published by MarketsandMarkets™. The global agricultural microbials market is estimated to be valued at USD 5.3 billion in 2019. It is projected to reach a value of USD 11.6 billion by 2025, growing at a CAGR of 14.1% during the forecast period. Factors include the rise in adoption of integrated pest management (IPM) practices across the globe, reduced development cost for microbials in comparison with conventional chemical pesticides, target specificity associated with microbial pesticides, and the rising trend of adopting organic farming practices.

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The bacteria segment is projected to be the largest segment in the agricultural microbials market during the forecast period.

The bacteria segment is projected to account for the largest market share, with USD 8.7 billion by 2025. There are around 1,408,525 strains of bacteria successfully registered, and they are the largest class of microorganism strains that have been registered and used for various industrial purposes. Bacterial strains have been most successfully isolated and used for cultivation purposes compared to all the other microorganisms, and form 43.5% of all the microorganisms strains registered globally. The application of bacteria in agriculture has increased in terms of biofertilizers and biopesticides, as these sustainably provide higher and healthy yields. Their benefits in achieving a holistic plant growth in cultivation increase their usage in the market.

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121 – Tables
53 – Figures
210 – Pages

The foliar segment is estimated to account for the largest share in 2019.

Foliar mode of application is widely used to apply microbials. It is mostly used for many fruit, vegetable, and flower crops. Microbials can be foliar applied as liquid or suspensions to crops. Soluble suspensions of microbials are useful in foliar spray and are lower in cost as compared to synthetic fertilizers. During flowering in spring, when soil moisture and temperature are not favorable for root growth, foliar spray is advantageous to meet the internal demand of micronutrients in the plants.

By function, the crop protection segment is projected to grow at the highest rate in the agricultural microbials market during the forecast period.

By function, the crop protection segment is projected to witness higher growth, at a CAGR of 15.98%, by 2025. The microbial pest control provides a significant amount of target specificity and ecological safety and hence can be applied uniquely or in combination with other pest management programs. Thus, the growers increasingly find application of the products in this segment, so their market seems to grow rapidly.

By crop type, the fruits and vegetables segment is projected to be the fastest-growing segment in the agricultural microbials market during the forecast period.

The fruits & vegetables segment is projected to account for the largest market share of USD 1.3 billion by 2025. The rapidly shifting focus on the consumption of fruits and vegetables in the population to achieve optimum nutrition is driving the market. There has also been a rise in the production quantities of fruits and vegetables across the globe. The rising per capita incomes of the population in the developed and developing countries also drive the demand for naturally produced foods.

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The North American region is projected to account for the largest market share of the agricultural microbials market in 2025.

North America is projected to have the largest share of USD 4.0 billion in 2025. The region is experiencing high growth in organic farming practices, farm conversions from conventional to organic, and development of newer biological solutions through research. The increasing growth of high-value crops and rising awareness among farmers about the environmental benefits of microbial solutions are expected to provide more scope for agricultural microbials market expansion. Populations in this region also are becoming more concerned regarding food safety and quality; thus, the governments have to invest more so that they meet these needs of the population, which tends to increase the demand for microbial solutions in the region.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the agricultural microbials market. It includes the profiles of leading companies, such as BASF SE (Germany), Bayer CropScience (Germany), Sumitomo Chemicals Company Ltd. (Japan), Monsanto Company (US), Corteva (US), Syngenta AG (Switzerland), Certis USA LLC (US), Marrone Bio Innovations (US), CHR. Hansen Holdings (Denmark), Isagro S.p.A (Italy), UPL Corporation (India), Verdesian Life Sciences LLC (US), Valent Biosciences LLC (US), Lallemand Plant Care (Canada), Agrilife Biosolutions Ltd. (India), Bioworks, Inc. (US), Novozymes (US), Koppert Biological Systems B.V (US), Wilbur-Ellis Holdings Inc. (US), and Pivot Bio (US).

79

Latest Innovation in Global Biopesticides Market

The global biopesticides market size is projected to grow at a CAGR of 14.7% from an estimated value of USD 4.3 billion in 2020 to reach USD 8.5 billion by 2025. Factors such as the increasing awareness of consumers about harmful effects of pesticide residues in crops, increase in demand for organic foods, government support to increase integrated pest management programs, phase-out of key active ingredients, and regulatory ban of pesticides that are detrimental to the public health and environment have led to a huge demand for biopesticides.

The entire biopesticides market is consolidated, with a few players occupying a major share. The wide variety of products offered by these companies for various market trends covered, their strong brand value, their vast geographical presence in terms of manufacturing, R&D units, and distribution partners are the major reasons for this organized market. The key players in biopesticides market include BASF SE (Germany), Bayer AG (Germany), Biobest Group NV (Belgium), Certis USA L.L.C (US), Novozymes A/S (Denmark), Marrone Bio innovations (US), Syngenta AG (Switzerland), Nufarm (Australia), Som Phytopharma India Ltd (India), Valent Biosciences LLC (US), BioWorks, Inc. (US), STK Bio-ag (Israel), Andermatt Biocontrol AG (Switzerland), International Panaacea Ltd (India), Bionema (US), Vegalab S.A (US), Isagro S.p.A (Italy), FMC Corporation (US), Koppert Biological Systems (Netherlands), and UPL Ltd (India).

BASF SE is one of the top players in the chemical industry across the world. The company operates through five major business segments, namely, functional materials & solutions, chemicals, performance products, agricultural solutions, and others. Biological solutions are offered by the company under the product portfolio for crop protection & seed, turf & ornamentals, and urban & rural pest control. This biological solutions segment includes biopesticides (biofungicides & bioinsecticides), inoculants, biostimulants, and pheromones, designed to be a part of IPM programs for both greenhouse and open field growers. The crop protection segment includes foliar- and drench-applied biological solutions. In 2019, the company launched new products in the biofungicide and bioinsecticide segments, which will strengthen the market position in the crop protection sector.

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Syngenta AG is one of the key players in crop protection and seed enhancement business. It operates through crop protection, seeds, professional solutions, and flower markets. The agricultural biologicals are offered through its crop protection business segment. Under the crop protection division, the company offers its solutions for selective herbicides, non-selective herbicides, fungicides, insecticides, seed care, controls, and other crop protection products. The seeds business of Syngenta AG operates in high-value commercial sectors of field crops, including corn, oilseeds, cereals, and vegetables.

The collaboration between DSM and Syngenta AG has helped develop microbial-based agricultural solutions, which is aiding the growth in biological solutions. The company has been investing in new product launches to expand its product portfolio and increase the customer base in various regions. In 2019, Syngenta AG launched its first bioinsecticide, Costar, which can be used on more than 50 crops and in 2020, Syngenta AG and Novozymes A/S (Denmark) launched biofungicide, TAEGRO in Europe and Latin America, which caters to the crop management programs against diseases and pests such as powdery mildew and Botrytis.

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78

Turf Protection Market Market to Witness Unprecedented Growth in Coming Years

The turf protection market is estimated at USD 5.15 Billion in 2017, and is projected to reach USD 6.41 Billion by 2022. The factors influencing the market growth are the rising demand from residential & commercial properties (including sports fields) and adoption of Integrated Pest Management in the turf industry, which uses a broad and systematic approach to control pests, in turn fueling the demand for turf protection products.

The turf protection market is segmented on the basis of solution, product, mode of application, and region. The solution segment is further segmented into chemical, biological, and mechanical. The market, by product, is segmented into pest protection, stress protection, and scarification. By mode of application, it is segmented into seed, foliar, and soil. On the basis of region, the turf protection market is segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World (RoW).

The primary factors driving the market include the rising demand from residential & commercial properties which includes sports fields and the adoption of Integrated Pest Management in the turf industry which uses a broad & systematic approach to control pests, in turn fueling the demand for turf protection products. The rise in the number of sport fields and leisure sports activities has translated into more demand generated for turf protection products.

On the basis of solution, the biological segment is projected to grow at the highest CAGR from 2017 to 2022. Biological products are easy to register due to absence of synthetic chemicals as a part of the formulation; this makes them more popular among turf managers. Also, stringent regulations for synthetic chemicals have fueled the demand for biological products. Biological products contain microbial, plant, or animal-based active ingredients that are formulated with macro and micronutrients and help in improving the overall condition of the turf.

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On the basis of product, the stress protection segment is projected to grow at the highest CAGR from 2017 to 2022. Grass on turf undergoes abiotic and biotic stress, similar to plants. Abiotic stress arises due to climatic extremes such as heat or cold and radiation levels. Biofertilizers and biostimulants are applied to stimulate growth and to activate soil nutrients biologically. They are also helpful in restoring soil fertility.

The Asia-Pacific region is projected to grow at the highest CAGR from 2017 to 2022. The turf protection market in the Asia-Pacific region is mainly growing due to increasing sports activities and interest in landscaping, which includes turf surfaces in some countries. The laws related to the usage of synthetic chemicals are not that stringent in the region. There is also a market for generic turf protection products in the Asia-Pacific countries which makes the product cost-effective and is demanded more by turf managers.

The key players that have been profiled in this report include Dow AgroSciences LLC (U.S.), Syngenta AG (Switzerland), The Andersons Inc. (U.S.), FMC Corporation (U.S.), Idemitsu Kosan Co. Ltd. (Japan), Epicore BioNetworks Inc. (U.S.), Eco Sustainable Solutions Ltd. (U.K.), Pure AG (U.S.), Lallemand Inc. (Canada), CoreBiologic, LLC (U.S.), Lucerne Biotech UK Ltd. (U.K.), Soil Technologies Corporation (U.S.), Nuturf Pty. Ltd. (Australia), Backyard Organics, LLC (U.S.), TeraGanix, Inc. (U.S.), and Evans Turf Supplies Ltd. (New Zealand).

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77

Food Flavors Market to Showcase Continued Growth in the Coming Years

The report “Food Flavors Market by Type (Chocolate & Browns, Vanilla, Fruit & Nut, Dairy, Spices), Application (Beverages, Dairy, Confectionery, Bakery, Meat, Savory & Snacks), Origin (Natural, Nature identical, Artificial), Form, and Region - Global Forecast to 2025", According to MarketsandMarkets, the global food flavors market size is estimated to be valued at USD 16.4 billion in 2020 and is projected to reach USD 20.7 billion by 2025, recording a CAGR of 4.8%, in terms of value. The growing demand for sweet and confectionery products all across the globe is causing a rise in the demand for food flavors.

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The fruit & nut flavor segment is projected to witness significant growth during the forecast period.

Based on type, the food flavors market is dominated by fruit & nut flavors. The fruit flavors are basically obtained from essence and concentrates of fruits and are quite popular. Nuts are an important source of natural oil and fibers. The demand for these flavors is rising due to the increase in health awareness among the consumers.

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133- Tables
64 - Figures
257 - Pages

The food segment is projected to account for a major share in the food flavors market during the forecast period.

By application, the food flavors market is segmented into food & beverages. Food is further classified into dairy products, confectionery, bakery, meat products, and others, which includes soups, condiments, pickles, and sauces. The increase in the demand for processed food is increasing the market for food flavors in the food segment applications.

The Asia Pacific region dominated the food flavors market with the largest share in 2019, whereas South America is expected to witness the highest growth rate.

The food flavors market in Asia Pacific is estimated to be dominant due to the increasing demand for processed food, because of the shift in lifestyle trends. People are looking for several healthy ready-to-eat options without compromising on taste. The production of dairy and meat processed food has also been increasing, which is again increasing the demand for food flavors.

The fastest-growing market is projected to be South America. As consumers have shown an inclination toward clean-label and organic products, this has enabled manufacturers to consider organic ingredients as major components of the products. Due to this, the food flavors market in the region is rising due to the demand for organic flavors.

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This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as DuPont (US), Archer Daniels Midland (ADM) (US), Givaudan (Switzerland), Kerry Group (Ireland), International Flavors & Fragrances (US), Firmenich (Switzerland), Symrise (Germany), MANE (France), Taiyo International (Japan), T. Hasegawa (Japan), Synergy Flavors (US), Sensient (US), Bell Flavors and Fragrances (US), Flavorchem (US), Takasago (Japan), Keva Flavours (India), Huabao Flavors & Fragrances (Singapore), Tate & Lyle (UK), Robertet (France), McCormick & Company (US), Wanxiang International (China), Treatt (UK), China Flavors and Fragrances (China), Lucta (Spain), and Solvay (Belgium).

76

Opportunities for New Market Entrants in Insect Pest Control Market

The insect pest control market was valued at USD 12.49 Billion in 2016 and is projected to reach USD 17.60 Billion by 2023, growing at a CAGR of 5.05% from 2017.

Pest management includes controlling infestations of insects, animals, germs, or other organisms that damage property, destroy food crops, and have adverse effects on the environment. Pest control is the process of minimizing or eradicating a wide range of undesirable insects and other pests from areas used for productive purposes, by using chemicals, technologies, special equipment, and other safety measures Various types of insecticide formulations are prevalent according to the type of insects, target site, formulation, active ingredient, application rate, permit requirements, and product registration.

The formulations are also required to be effective against insects without adversely affecting people or the environment. A variety of chemical and mechanical solutions are available in the market to control different types of pests. Additionally, since insecticide solutions are toxic, the insect control technicians need to be acquainted with safety measures and proper usage. As a result, there are several laws and regulations that have been adopted to help protect the consumers, the environment, and insecticide handlers from possible adverse effects caused by the usage of insecticides.

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Regulations on the use of chemical insecticides have become stringent in North American and European countries, owing to the environmental concerns arising from their usage. This has led to opportunities for the growth in the demand for biological insect pest control methods. However, there is still a significant demand for synthetic insecticides among public health authorities, livestock farmers, and pest control service providers, as their biological counterparts are environmental-friendly but less effective and require repeated usage for optimum results.

Increasing awareness about environmental pollution and public health concerns caused by vector-borne diseases are the major factors driving the demand for insect control services across the globe. With the increase in population, there is also increased pressure on limited resources, resulting in overexploitation and environmental degradation. The degradation of the ecosystem leads to global warming and temperature rise, which are expected to enhance the survival capability of pest across different seasons indirectly. Global warming has been an important factor in the movement of tropical pests away from the equatorial region.

The insect control market is driven by rapid urbanization across all regions. Increasing awareness on public hygiene and prevention of vector-borne diseases, coupled with the rising purchasing power parity (PPP) among middle-class populations have fueled the demand for pest control services, globally. Pathogens causing dengue, rift valley fever, malaria, and Zika virus are transmitted by insects, which act as vectors for these diseases, and are considered to be dangerous to humans, livestock, and the environment. Hence, various preventive and control measures to control the proliferation of harmful insects have been driving the growth of this market, globally.

The insect pest control market is a fragmented one with a large number of domestic manufacturers, formulators, service, providers, and suppliers. Easy availability of off-patent chemicals allows the entry of many small-scale manufacturers and to compete for the market position. Limited research activities are conducted with respect to insecticides, except for some key players such as Bayer (Germany), Syngenta (Switzerland), BASF (Germany), FMC Corporation (US), Sumitomo Chemicals (Japan), ADAMA (Israel), Rentokil Initial (UK), Ecolab (US), The Terminix International Company (US), Arrow Exterminators (US), Ensystex (US), and Rollins (US), as these are well-established and financially stable players that have been operating in the industry for several years.

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75

Latest Innovation in Global Feed Additives Market

Feed additives are products such as amino acids, phosphates, vitamins, enzymes etc. that are used in animal nutrition for purpose of improving the quality of feed and the quality of food from animal origin, or to improve the animals’ performance and health, e.g. providing enhanced digestibility of the feed materials. The feed additives market is projected to grow from USD 33.0 billion in 2018 to USD 44.3 billion by 2023, at a CAGR of 6.1% during the forecast period. This is attributed to the growth in the feed production and technological innovations and the adoption of advanced animal husbandry practices.

Increase in demand and consumption of livestock-based products such as dairy & dairy-based products, meat, and eggs is expected to drive the usage of feed additives in feed for the growth and development of farm animals. According to FAO data, it has been stated that the global meat production is projected to be 16% higher by 2025. Poultry meat is the primary driver for the growth of the overall meat production, owing to its high demand, low production cost, and lower product prices, both in developed and developing countries. Furthermore, owing to the increasing awareness about the role and dynamics of food nutrients, especially protein, on overall physical and mental growth and development, there is a growing trend toward animal-sourced protein in the form of either meat, eggs, or milk. This drives the usage of feed additives in feed as it increases its nutritional quality.

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Increase in demand for nutritional supplements for monogastric animals provides as an opportunity for the growth of feed additive market. As monogastric animals cannot synthesize vitamin B complex compounds within their body, as compared to ruminants, there is a considerable demand for vitamin and mineral supplements in this sector. These sectors are witnessing better growth in the developing markets of the Asia Pacific and South American regions.

The major vendors in the global market include Cargill (US), DowDuPont (US), ADM (US), Evonik (Germany), BASF (Germany), DSM (Netherlands), Solvay (Belgium), Ajinomoto (Japan), Novozymes (Denmark), Chr. Hansen (Denmark), InVivo (France), Nutreco (Netherlands), Kemin (US), Adisseo (France), and Alltech (US). These players have broad industry coverage and strong operational and financial strength; they have grown organically and inorganically in the recent past.

Sustainability of feed and livestock chain posing a challenge to the feed additive market

The global feed addictive industry is focusing on improving feed efficiency by improving the feed conversion rates for all major livestock and farmed fish species. The feed and livestock industries can achieve sustainability by developing a harmonized environmental footprint methodology, based on life cycle analysis, involving the entire chain. The development of common metrics can also help to calculate a broader range of resource efficiency indicators. Efficient usage of feed ingredients can support the reduction of the environmental impact of livestock farming through resource-efficient feed production. Use of co-products from other processing industries can reduce the pressure on land-grown crops.

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74

Complex Fertilizers Market to Showcase Continued Growth in the Coming Years

The complex fertilizers market is projected to reach a value of USD 54.32 billion by 2022, at a CAGR of 6.5% from 2017 to 2022. The market is driven by factors such as the need to increase productivity and level yield and fertilizer strength gaps across regions, rise in awareness regarding soil profile, and nutritional balance, backed by state support. Advanced farming technologies ensure safe and reliable application of complex fertilizers, which improves plant health and minimizes nutrient deficiency in crops.
Increasing investments by key players in partnerships and agreements for expansion of new markets in complex fertilizers, along with the increased expenditure on innovating new and cost-effective production processes of complex fertilizers is expected to change the business landscape in the next five years.

Based on type, the incomplete complex fertilizers segment accounted for the largest market in the year 2016. Diammonium phosphate and mono ammonium phosphate are the most effective means of increasing crop yield and has a major impact on the productivity of the crop.

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Based on crop type, the oilseeds segment is projected to grow at the highest growth rate in the global complex fertilizers market from 2017 to 2022. This high growth of the oilseeds segment is attributed to increase in the production of nutritive food as awareness about the advantages of nutritional food is increasing around the globe, which in turn is projected to drive the demand for oilseed products.

Based on form, solid complex fertilizers were the most widely used, these fertilizers provide greater stability and are easy to use. Key industrial players are expanding their operations in emerging markets to increase their geographical presence and customer base. Global complex fertilizer manufacturers are actively involved in the implementation of various R&D activities to discover novel solid complex fertilizer products.

South America is the fastest-growing region in the complex fertilizers market due to the increase in demand for food products and the availability of arable land and the expansion of farmlands, especially in Brazil, Argentina, and Chile, ensuring the growth of this market in the region. South American countries are shifting toward technological advancements in agriculture, which in turn drives the market for complex fertilizers. The Asia-Pacific region accounted for the largest market for complex fertilizers in 2016 since a major section of the population in this region is engaged in agricultural practices. The Chinese market for complex fertilizers accounted for the largest share of the Asian-Pacific market in 2016.

The key players in this market have been developing a range of innovative products to target specific needs of the end users of complex fertilizers. They continue to expand and invest to increase their market share across different countries. These players also adopted acquisitions, expansions, new product launches, and agreements with leading and other local companies, to enhance and strengthen their geographical reach.

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The key players in the market include Yara International ASA (Norway), Agrium Inc. (Canada), Coromandel International Limited (India), CF Industries Holdings, Inc. (U.S.), PhosAgro (Russia), and Potash Corp. of Saskatchewan Inc. (Canada).