FOOD, NUTRITION AND ANIMAL FEED
Plant-based waters market to witness an intensely competitive landscape, coconut water to be a major contender in the product spectrum
Plant-based waters market valuation is poised to witness a commendable surge in the years ahead, driven by the paradigm shift in the lifestyles of the global population. With the depreciating usage of carbonated drinks pertaining to the risk factors associated with them, the plant-based waters industry has witnessed a tremendous demand over the recent years. As per the estimates, the global valuation of the Plant-Based Waters Market in 2016 was approximately USD 2.5 billion. These low-calorie drinks derived from the plants are deemed to address the numerous health concerns of the consumers such as obesity, diabetes, cardiac ailments, etc. Driven by the associated health benefits, the plant-based beverages have witnessed an appreciable degree of adoption and have served as a sustainable alternative to the routine drinks.
U.S. Plant-based Waters Market Size, By Product, 2013 – 2024 (USD Billion)
The coconut water amasses the major chunk of the plant-based waters market pertaining to the volume as well as the revenue. As per the estimates, this segment dominated the overall plant-based waters product landscape in 2016 and is slated to register phenomenal growth over the coming timeframe. The prospective commercialization of the coconut water market is quite evident from the active participation by the industry players to exploit this business space. Earlier this year, one such instance demonstrating the massive potential of this industry was the announcement by PepsiCo, where it declared its plan to acquire All Market Inc., the owner of coconut water brand dubbed Vita Coco. The deal would leverage PepsiCo with a strong position in the overall plant-based waters industry.
This acquisition would also establish a strong battleground for the two world’s biggest soda companies – PepsiCo and The Coca-Cola Company. The latter had acquired Zico coconut water brand in 2013 and has a rather strong foothold in the overall plant-based waters market. However, if the deal of PepsiCo acquiring All Market Inc. materializes, the overall plant-based waters market would witness a fiercely competitive landscape in the years ahead.
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Asia Pacific is gaining a major traction pertaining to the commercialization of the plant-based waters market. The market participants are vigorously exploiting the APAC belt to explore the plethora of untapped opportunities in this region. The region is one of the top repositories of coconut, which still falls in the unbranded and unorganized category.
However, in addition to the regional penetration, the distribution network of the industry players will also be a major parameter defining their profitability margins. Along these lines, the online distribution channels are witnessing a swift growth in this business space, owing to the easy product availability and enhanced marketing approach of these channels. The players are increasing their tie-ups with these online platforms to enable an effective distribution model. The retail stores are the second largest distribution channels and are estimated to register the highest CAGR of 23% over the period of 2017-2024. The diversified product landscape of the plant-based waters industry will drive the retail distribution channel adoption in the coming timeframe.
Speaking of the broader product portfolio, the plant-based waters industry is also gaining a remarkable share from the rising sales of Birch and Maple water. These products are still in the nascent stage but the pace at which they are penetrating the U.S. and U.K. markets is indeed appreciable. North America plant-based waters market is projected to witness significant gains from the increasing sales of maple water and the increasing packaged water consumption. Birch, having an ample availability in Europe, will substantially drive the regional plant-based waters industry.
The industry might face growth restraints pertaining to the shorter shelf life and the complex supply chain model of the relevant products. However, the innovations in the packaging industry are addressing these durability issues at a rather quick pace.
In the years ahead, the industry is estimated to witness a broader product portfolio with the incorporation of new flavors. Global penetration, brand recognition, and effective distribution channels are some of the major parameters characterizing the profitability landscape. With this diversified product spectrum and a plethora of potential untapped opportunities, the global plant-based waters market is forecast to exceed a valuation of USD 10 billion by 2024.
Author Name : Shikha Sinha
Eye health ingredients market to register substantial gains from the animal health sector, U.S. to be one of the most prominent revenue contributors over 2017-2024
Eye Health Ingredients Market, of late, has been gaining renewed traction, with the increasing consumer awareness toward vision sustenance, subject to the growing number of age-related eye diseases. The rising prevalence of diseases such as diabetic retinopathy, AMD (Age-related Macular Degeneration), cataracts, and glaucoma has also been fueling the growth of this industry. As per estimates, AMD disorders have ultimately resulted in eye cancer in more than 50% of the cases in the United States. Worldwide, there has been an increasing spending in AMD treatment, which is likely to widen the horizon of eye health ingredients industry in the years ahead. Concurrently, supportive regulations promoting nutritional dietary supplements along with a diversified product portfolio has further favored the market expansion.
U.S. Eye Health Ingredients Market Size, By Ingredient, 2016 & 2024 ($ Mn)
Global eye health ingredients industry is characterized by the run-of-the-mill yet effective strategies such as novel product development, mergers & acquisitions, and geographical expansion. For instance, in 2015, DSM and Kemin, two key players of eye health ingredients market, had collaborated and launched two new products named FloraGLO Lutein and OPTISHARP Zeaxanthin, which helped improve their profit margins and enhanced their position in the business.
The remarkable growth of the ophthalmic industry in the U.S. will be a major driving force that will contribute toward the expansion of the regional eye health ingredients market. As per estimates, blindness and low vision are observed in more than 3.2 million people in North America. This number is expected to exceed USD 6 million by 2024. On these grounds, the manufacturing scale of eye health ingredients across this sector is remarkably high, which will propel eye health ingredients market over the years ahead. Reliable statistics state that on a global scale, the U.S. accounted for more than 45% of the eye supplement production in 2015, which is significantly higher than most of the other regions including Australia, Asia, and Europe.
According to the estimates provided by the AMD Alliance International, around 26 to 32 million people all over the world have been currently suffering from AMD. It has been predicted that the numbers are likely to triple by 2024, subject to the decreasing levels of pigment in the macula, which will increase the risk of AMD. This is likely to propel eye health ingredients market from age-related macular degeneration over 2017-2024.
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The rising cases of vision problems such as glaucoma, cataracts, and macular degeneration among people has positively influenced the product demand for human eye health treatment. Pertaining to this factor, human consumption dominated the eye health ingredients market in 2016, and is forecast to grow significantly over the next few years. In addition, consumers are motivated by the lower costs of supplements as opposed to the rising costs of eye surgeries. Subject to the patient’s choice of avoiding unnecessary and prolonged hospital visits, eye health ingredients industry from human patient base will observe a substantial growth over 2017-2024.
The rising incidences of poor animal eye health and consumer inclination toward providing the best medical care for their pets will spur eye health ingredients market from animal consumption, which is slated to experience a CAGR of 7% over 2017-2024.
Prominent products that form a part of the global eye health ingredients industry include beta carotene, vitamin A, lutein, zeaxanthin, and bilberry extracts. Of these, it has been observed that zeaxanthin and lutein are the most popular and commonly-used ingredients, since they are renowned to protect the eyes from dangerous high-energy light waves such as the UV rays. While they are naturally found in many food sources, for commercial usage, they are combined with antioxidant vitamins such as vitamins A, B (B6 and B12), C, and E and incorporated in supplementary food products. Pertaining to their usage in numerous supplements and infant formula products, eye health ingredients market size from lutein is expected to grow at a rate of 6.5% over 2017-2024.
Bilberry extracts, another popular eye health product, possesses properties that may help maintain blood sugar levels and improve retinal health. On these grounds, eye health ingredients industry from bilberry extracts will cross a valuation of USD 25 million by 2024. Besides, the surging demand for effective treatment methodologies for ophthalmologic disorders will spur the business growth.
Vision enhancing ingredients are found abundantly in natural sources such as kale, broccoli, and spinach. Pertaining to the shifting consumer preferences toward naturally sourced products owing to their awareness regarding the side-effects of synthetic ingredients will stimulate eye health ingredients market from natural sources. This paradigm shift in consumer inclination is especially observed cross North America and Europe, which will lead eye health ingredients industry from natural sources to observe a CAGR of 6% over 2017-2024.
Speaking along similar lines, Europe eye health ingredients market will witness tremendous gains of more than 5.5% over 2017-2024. This growth can be attributed to the increased consumer expenditure on healthcare and medication. The rising geriatric population, especially in the countries of Russia, Germany, and UK will lead Europe eye health ingredients industry size to surpass 530 kilo tons by 2024.
Eye health ingredients are available in numerous forms such as powders, liquids, soft gels, and tablets & capsules. As opposed to the liquid and powder forms, it has been surveyed that capsules & tablets and soft gels have a higher demand. This is evidenced by the fact that soft gels and capsules & tablets cumulatively accounted for more than 40% of the eye health ingredients market share in 2016. The number is expected to grow significantly over the coming years, possibly due to the reduced abdominal health issues and easy consumption that accompanies these supplement forms. As per estimates, eye health ingredients industry from powder form is slated to observe gains of more than 6.5% over 2017-2024. This growth can be credited to the growing technological advancements pertaining to the development of novel eye health products and the rise in the consumption of pharmaceutical drugs.
Global eye health ingredients market is moderately fragmented and involves the participation of numerous biggies, such as Allied Biotech Corporation, BASF, MacuShield, Swanson, FMC Corporation, Amway, Solgar, DSM, Alcon, Bausch & Lomb, and Efamol. Industry players have been striving to develop unique products at affordable costs to increase their consumer base and expand their presence across global eye health ingredients market.
Author Name : Saipriya Iyer
Organic seed market to witness major growth prospects in Asia Pacific, India and China to be lucrative pockets
Organic Seed Market is witnessing a speedy growth with the rising consumer demand for non-chemical and non-synthetic foods. The trend of going completely organic is booming, with people becoming more attentive toward their food safety and food consuming habits. A paradigm shift seen in the consumer buying preferences from processed food to natural organic food has provided a major thrust to the growth of organic seed industry. Better nutritional value, higher antioxidants properties, and better taste provided by the organically grown food have considerably led to a high demand for organic seeds.
U.S. Organic Seed Market Size, By Crop, 2013 – 2024 (USD Million)
Governments and many other private agencies are constantly taking initiatives to promote chemical-free farming. This type of farming will not only boost the organic seed market but will also address the rising concerns pertaining to arable lands. Non-chemical farming does not make use of harmful chemical fertilizers, herbicides, pesticides, and insecticides in the process of crop production. This in turn helps the arable land in maintaining its natural nutritional level and the quality of soil.
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Today, organic foods are a smart priority and an effectual choice for healthy lifestyle. This has significantly uplifted the organic seed market demand in fruits & nuts, oil, crops, vegetables, and other vegetation. With an estimation of more than 33% of the overall revenue by 2024, vegetable is set to lead the overall organic seed industry. Easy digestion and high nutrition value of organically grown green leafy & cruciferous vegetables have raised the valuation of organic seed market in this sector. Shift from chemicals and genetically modified crops to naturally sourced crops have provided a considerable traction to the organic seed market pertaining to crops. As per estimates, organic crop market is expected to record an annual growth rate of 11% over the period of 2016-2024. India, Japan, China, and Indonesia are the key countries producing organic crop seeds which include barley, oats, rye, rice, corn, and alfalfa.
Asia Pacific organic seed market accounted for a revenue over USD 400 million in 2015. Governmental initiatives to boost the organic farming techniques and growing consumer awareness are the key drivers fueling the regional growth. India and China are the chief revenue pockets for the APAC industry. With an estimate of over 13% CAGR from 2016-2024, China organic seed market is slated to surge as the trend of consuming natural food grows.
This industry has a huge value chain network spread across the local and numerous regional manufacturers. Various product distributing channels in organic seed market include retailers, wholesalers and co-operatives. Wholesalers have clutched the largest revenue chunk of organic seed industry covering almost 60% of the overall share in 2015. Organic seed market size from this distribution channel is slated to exceed USD 3 billion by 2024. These wholesalers stock the product in warehouses and resell it to the retailers. The retail distribution channel is also expected to expand at a striking 13.5% CAGR over the period of 2016-2024. Europe organic seed market from Germany, UK, Italy, and France together is likely to generate business of over USD 940 million from the wholesale distribution channel.
A report compiled by Global Market Insights, Inc., anticipates the worldwide organic seed market to triple its revenue record by exceeding USD 5.4 billion by 2024 at an annual growth rate of over 12.5% over the period of 2016-2024. Some of the prominent industry participants include Seed Saver Exchange, Wild Garden, Fedco, Johnny’s Selected Seeds, Southern Exposure Seed Exchange, and De Bolster.
Author Name :Ojaswita Kutepatil
Europe yeast extract market to earn significant revenue over 2016-2024, high demand from the thriving food & beverage sector to drive the regional growth
Yeast extract market is slated to cross a valuation of USD 1.8 billion by 2024, subject to the fact that the product boasts of a massive application spectrum, such as the animal feed, food & beverages, and pharmaceuticals sectors. Yeast extract is basically a natural ingredient that encompasses high-quality proteins, minerals, carbohydrates, B complex vitamins, amino acids, nucleotides, and lipids and is predominantly used as a food flavoring agent. It finds applications in processed and canned food, frozen meals, dietary supplements, and pharmaceutical and dairy products, primarily due to the fact that it contains essential nutrients that promote the growth of beneficial microorganisms. In addition, the extract enhances the taste and flavor of food products and is extensively used in the food & beverage sector, thereby propelling Yeast Extract Market, slated to grow at a rate of 5.5% over 2016-2024.
U.S. Yeast Extract Market Share, By Application
Yeast extract industry is characterized by novel product developments. For instance, Lallemand, a renowned yeast & bacteria manufacturing and processing firm, recently came up with a unique yeast extract product called Prim Lyfe 175A, which can be used as a viable alternative to meat as it imparts a similar taste, texture, and flavor, and is also the first yeast extract product that contains more than 70% protein content. Many other companies have also been striving to develop innovative products, which is likely to propel yeast extract market.
Yeast extract industry is also characterized by frequent mergers & acquisitions. For instance, Lesaffre, a major participant of global yeast extract market, recently declared that it plans to acquire Sensient‘s Strasbourg yeast extract food business with an aim to improvise on product development, enhance operational productivity, and increase the geographical scope of the business.
Worldwide yeast extract market share is quite consolidated and involves the participation of selected companies such as Bioorigin, Halcyon Proteins, Angle Yeast, Oriental Yeast, Lallemand, Ohly, Lessafre, Synergy Flavours, AB Mauri, Titan Biotech, Biospringer, DSM, Alltech, and Kerry Group. Industry players have also been focusing on developing products that have a rather low carbon dioxide emission rate.
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Yeast extract is available in the form of powders and pastes. The paste form is used to enhance the growth of young livestock, by improving their immune system and digestion ability. Paste based yeast extract market is slated to grow prominently over the next few years, subject to the rising awareness among livestock farmers regarding animal nutrition.
The powder form is feasible to be used for processing dairy products such as regular and vegan cheese and food products such as dips, sauces, and snacks. Rising product usage as a food flavoring agent and increasing demand for milk products tagged with the ‘natural’ tag will propel paste-based yeast extract industry.
Technologically, yeast extract can be bifurcated into hydrolyzed and autolyzed yeast extracts. Autolyzed technology based product is used across food & beverage and animal feed sectors subject to its meaty texture. Many F&B manufacturers have been adding flavor improvisers to increase the taste of their products, which will stimulate autolyzed yeast extract market, slated to grow at a rate of 5% over 2016-2024, with a target size estimation of USD 1.25 billion by 2024.
Yeast is extensively used as a seasoning & dressing ingredient and as a flavor enhancer in numerous food products, especially processed packaged foods such as sauces, soups, savories, and ready-to-eat mixes, subject to which yeast extract industry from food & beverage applications is slated to record a CAGR of 4.5% over 2016-2024. Soups, in particular, will generate a revenue of more than USD 185 million by 2024, propelling yeast extract market from food & beverage applications.
Companies across the globe have been investing heavily in the food & beverages sector to develop high quality food products. Speaking of which, Germany yeast extract industry from food & beverage applications is slated to register a growth rate of 4% over 2016-2024, owing to a favorable regulatory landscape, increasing awareness regarding nutrition, and the high demand for ‘clean labelled’ yeast products.
The product is also used to enhance the immune system of livestock, subject to which they are used in animal feed. Yeast extract market from the animal feed sector is forecast to grow at a rate of 6% over 2016-2024, owing to the product’s increasing utilization in aqua nutrition and other pet products.
China will witness a huge demand for the product in animal feed applications. China yeast extract industry from the animal feed sector is slated to observe a CAGR of 6% over 2016-2024 with a target size projection of USD 20 million by 2024. This growth can be attributed to the growing product usage as an additive to provide essential nutrients such as minerals, vitamins, and protein to help enhance the immune system and improve animal metabolism.
Of late, technological advancements have resulted in the application of hydrolyzed yeast extract in conditioners, shampoos, skin moisturizers, and other personal care products, subject to which hydrolyzed yeast extract market will observe a steep growth rate over the next few years.
Brewer’s yeast extract is popularly used for alcoholic beverage fermentation, animal feed additives, and dietary supplements. Alternatively, it is also called medicinal yeast and is used for the treatment of the skin, respiratory tract, and diabetes across the pharma sector, pertaining to which brewer’s yeast extract industry will grow at a remarkable rate over 2016-2024. Speaking of which, yeast extract market from pharmaceutical applications is foreseen to grow at a rate of 4% over 2016-2024, owing to the changing consumer preferences toward organic medication and the surging demand for nutritional supplements from the ever-growing elderly population across emerging economies such as China and India.
Baker’s yeast extract finds applications in bakery products and fermented food products in the F&B sector. Baker’s yeast extract industry is anticipated to grow at a CAGR of more than 4.5%, subject to the huge demand for products such as rolls, doughnuts, breadsticks, cakes, and breadsticks.
A favorable regulatory framework plays a huge role in the growth of yeast extract market across various geographies. For instance, the enforcement of favorable norms by the FDA and government initiatives toward salt reduction in food to eliminate the occurrence of hypertension and other disorders should fuel U.S. yeast extract industry, which is expected to register a growth rate of 4.5% over the next few years. Similarly, strict regulations by organizations such as EURASYP will lead Europe yeast extract market to grow at a rate of 4% over the next few years.
Yeast extract contains approximately 5% of glutamate, which is naturally present in walnuts, peas, tomatoes, and mushrooms, and is safe for human consumption. MSG, on the other hand encompasses 90% glutamate, which will cause MSG allergies leading to nausea, headaches, and weakness. Growing popularity of yeast extract as opposed to MSG subject to the former’s organic benefits will drive yeast extract market over the next few years.
Author Name :Saipriya Iyer
Curcumin market revenue to touch the 100-million-dollar benchmark over a decade, surging demand from pharmaceutical applications to push the industry growth
Rising demand for herbal dietary supplements and organic treatment methods for infections and tumors will fuel Curcumin Market growth. Curcumin is basically a fat-soluble, yellow-colored polyphenolic pigment derived from curcuminoids that is available in two forms, namely, enol and keto. This product is also recognized as a turmeric extract, and possesses anti-inflammatory, antifungal, and antiviral properties owing to which it is used to treat tumors, arthritis, and viral infections. It is also used to manage lipid levels, reduce depression, and improve metabolism, subject to which curcumin industry will experience a growth rate of 9.5% over 2016-2024, having held a valuation of USD 39 million in 2015.
U.S. Curcumin Market size, by application, 2013-2024 (USD Million)
Growing consumer consciousness toward the consumption of natural ingredients in food products, cosmetics, and medicines is expected to help market players exploit lucrative opportunities in curcumin market. Most companies have been striving to achieve product bioavailability. For instance, Tokyo based firm, Theravalues Corporation, had launched Theracurmin Super, superior bioavailable form of curcumin in 2014, in compliance with the legislations passed by the European Union for sale in the Europe market. With the rising incidences of cancer, drug manufacturers have been trying to find alternative, bio-based, natural medication to treat the terminal disease. Growing consumer awareness regarding OTC medication will also fuel curcumin industry demand.
Curcumin production is excessively rampant across India, subject to the abundant supply of the product. India holds more than 78% of the global curcumin production. The nation accounted for more than 81% of the Asia Pacific curcumin market in 2015 and is anticipated to depict excellent growth prospects over the next seven years, pertaining to the usage of the product as a spice and food colorant. Despite possessing an abundant supply of raw material, reduced commercialization and low consumer awareness have led to the nation exporting the product to developed regions such as North America and Europe.
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Growing consumer preferences toward herbal skin care products will drive global curcumin industry size from cosmetic applications. Worldwide expenditure on herbal cosmetics was more than USD 7 billion in 2015 and is forecast to exceed USD 13 billion by 2024. APAC alone is estimated to have spent more than USD 2.5 million on organic cosmetics in 2014 and is expected to cross a margin of USD 4 million by 2024. Curcumin ingrained cosmetic products possess anti-blemish and anti-pigmentation properties, owing to which they are heavily deployed across the personal care sector. Curcumin market share from cosmetic applications is anticipated to grow at a rate of 13% over 2016-2024.
China curcumin industry is anticipated to witness heavy gains from the pharmaceutical and cosmetic sectors, subject to the product’s natural anti-oxidants. High demand for turmeric based organic dietary supplements and anti-cancer medication is expected to fuel U.S. curcumin market size. In addition, increasing preference for turmeric based cosmetics subject to its anti-pigmentation and antioxidant characteristics will propel U.S. curcumin industry share from cosmetic applications, slated to grow at a CAGR of 10% over 2016-2024
Germany curcumin market size from cosmetic applications is anticipated to surpass 2.3 tons by 2024, in terms of volume. This growth can be credited to the excessive usage of the product owing to its benefits subject to blemishes, UV rays, and skin pigmentation. In addition, the pharmaceutical industry share in Germany is expected to cross USD 65 billion by 2024. The healthcare spending alone surpassed a mammoth USD 325 billion in 2015. Subject to the regulations enforced by the European Food Safety Association (EFSA), Germany curcumin market is anticipated to register a notable growth over 2016-2024.
Pharmaceutical applications held more than 52% of the overall curcumin industry in 2015. The product’s usage in the treatment of various diseases such as arthritis and gastric ailments will propel the market growth.
U.S. led OTC industry in 2015 by accounting for more than 30% of the overall demand, subject to the increased requirement of anti-cancer medication. U.S. herbal dietary supplements market size was valued at USD 6 billion in 2015, and is expected to grow at a rate of 7.5% over the next few years, which will fuel the regional curcumin industry.
UK curcumin market from pharmaceutical applications was worth more than USD 700,000 in 2015. Subject to its superior qualities and extensive applications, UK curcumin industry will witness a noticeable surge. With Germany and UK at the helm, Europe curcumin market will grow at a rate of 13% over 2016-2024.
Worldwide curcumin industry is rather fragmented and encompasses small and medium sized enterprises and large corporations, most of which have their presence in India. Renowned herbal skin care brands and cosmetics that incorporate this ingredient in their products include Shahnaz Husain, Vicco, and Himalaya Herbals. Biomax Life Sciences, Tri Rahardja PT, Helmigs Prima Sejahtera, Hindustan Mint & Agro Products, Konark Herbals & Health Care, Synthite Industries, SV Agrofood, Star Hi Herbs, Hebei Food Additive, Herboveda India, and Arjuna Natural Extracts. These companies focus on developing innovative products and bio-based curcumin alternatives.
Author Name :Saipriya Iyer
Phytosterols industry to collect a massive share via food & beverages sector over 2016-2024, Europe to majorly drive the global landscape
Phytosterols Market revenue is expected witness a lucrative growth over the years to come, subject to the product’s ability to reduce cholesterol level. The escalating demand for food globally has led to increased usage of phytosterols across the food & beverage sector, particularly as an additive in food products such as milk, sausages, yoghurt, bakery items, and margarines, which will generate lucrative avenues for business development. Food & beverage sector, which had collected a revenue of more than USD 15 trillion in 2015, is predicted to record a CAGR of 4% during the period from 2016 to 2024. This surging growth rate is expected to further impel phytosterols industry expansion. According to Global Market Insights, Inc., “Phytosterols market is predicted to surpass a targeted revenue margin of USD 1 billion by 2024, registering an annual growth of 9% over the period of 2016-2024.”
U.S. phytosterols market size, by application, 2015 & 2024 (USD Million)
Taking into consideration the topographical trends, Germany phytosterols industry size is slated to produce more than USD 55 million by 2024. The growth can be credited to the rising awareness about the health benefits accrued due to intake of natural ingredients. France and UK along with Germany are expected to drive the growth of European industry and contribute notably towards the overall phytosterols market share.Phytosterols industry size in China is anticipated to grow at a CAGR of 9% over the coming seven years, driven by the growing product usage in cosmetics for improving skin texture and protecting it from harmful UV rays.
U.S. phytosterols industry is predicted to experience a massive growth over the coming years. This can primarily be attributed to the high product applications across pharmaceutical sector. Phytosterols market in Brazil is forecast to experience substantial gains over the coming seven years and will push LATAM industry size, owing to intensified demand for the product in thriving personal care sector.
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Increasing consumption of food supplements as a result of growing health awareness among the consumers is expected to positively impact the development of Middle East & Africa Phytosterols market. South Africa, UAE, and Saudi Arabia are likely to influence the regional demand.
Phytosterols find extensive applications across cosmetics, pharmaceuticals, and food ingredients sectors. Phytosterols industry share across the pharmaceuticals sector is estimated to grow at a rate of 9% over the coming timeframe. Enhanced utilization of product in medicines for curing ailments such as psoriasis, asthma, bronchitis, allergies, and hair loss will suitably leverage the industry growth.
Cosmetic applications are expected to generate a revenue of more than USD 100 million by 2024, subject to the product’s ability to protect the skin from ultraviolet radiations maintain the smoothness of skin. Rising consumer demand for anti-ageing creams incorporated with the product’s anti-inflammatory properties will further boost the revenue.
Stigmasterol, beta-sitosterol, and campesterol are the major products of phytosterols. Beta-sitosterol industry size is predicted to hit USD 700 million by 2024, growing at a rate of 9% over the period of 2016-2024. The growth is driven by high product application in medicines used for cardiovascular disease treatment and for reducing the proportion of high-density lipoprotein. Campesterol market is predicted to grow considerably over the next few years and is expected to boost overall phytosterols market size. The expansion can be attributed to the high product application in drugs and dietary supplements.
Worldwide phytosterols industry share is rather consolidated with key market players contributing more than 45% of the overall demand in 2015. BASF SE, ADM, Cargill Incorporation, Enzymotec Company, FenchChem, E. I. du Pont de Nemours and Company, Arboris LLC, PrimaPharm Incorporation, Fenchem Biotek Limited, Eugene Science Incorporation, and Lipofoods are the major participants of phytosterols industry.
Author Name :Dhananjay Punekar
U.S. food phosphate market to accrue lucrative revenue via meat and seafood processing applications over 2016-2024
Shifting consumer trends toward healthy diet consumption coupled with rise in the demand for protein enriched food will fuel Food Phosphate Market development. Rise in the food phosphate production as a result of escalating demand for food across countries such as India, Germany, China, France, and the U.S. will create a huge growth potential for the business. This growth can be attributed to the rising product usage as an emulsifier, sequestering & leavening agent, and acidity regulator across various sectors such as food & beverages, bakery items, dairy items, and meat & seafood processing. Global Market Insights, Inc., reports that food phosphate industry is forecast to hit a revenue of USD 2.4 billion by 2024, registering a CAGR of 6% during the period of 2016-2024.
U.S. poultry meat sector was more than 15 million tons in 2015, and is expected to reach nearly 20 million tons by 2024, driven by the growing consumer awareness regarding protein rich diet and the rising popularity of canned food, which in turn will contribute to the growth of food phosphate industry over the span of few years.
Considering the regional landscape, Asia Pacific food phosphate industry is slated to record substantial gains of 4.5% during the period from 2016 to 2024. Mounting preference for bakery and dairy items as a result of high standards of living along with elevated demand for healthy food will propel the regional growth. China, Japan, and India are projected to be the key regional revenue contributors.
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India food phosphate market revenue in the dairy sector is predicted to grow at a rate of 4% over the coming timeframe with cheese processing applications contributing substantially towards the industry share. Sodium based food phosphate industry in China is anticipated to hit USD 100 million by 2024, driven by its wide usage in processed as well as baked foods.
LATAM food phosphate industry is slated to record a CAGR of 3.5% over the coming seven years subject to the thriving meat processing sector along with an increase in the number of livestock farming activities. Brazil and Mexico are the key regional revenue pockets.
Europe food phosphate market is projected to experience moderate growth over the years to come, owing to rising customer demand for nutritious food coupled with the huge presence of retail channels. Germany, Italy, France, and the UK are likely to drive the regional share.
Germany food phosphate industry across the meat processing sector is foreseen to accrue a revenue of more than USD 55 million by 2024. Flourishing dairy and seafood processing sectors across the country are likely to drive the regional growth.
Food phosphate industry size from the dairy sector will grow at a rate of 3.5% over the coming timeframe, driven by its use as an emulsifier in various dairy items such as puddings, cheese cakes, ice creams, and milk based drinks. Bakery applications are expected to hit the revenue margin of USD 450 million by 2024, driven by rise in the per capita income of the consumers along with large-scale consumption of bakery items such as pizza, doughnuts, pastries, and cakes.
Food phosphate market share in meat & seafood processing sector is predicted to record a CAGR of 4% over 2016-2024, owing to burgeoning protein demand from the consumers coupled with an increase in the preference for the canned food as a result of hectic lifestyles. It is also expected to accrue revenue of more than USD 1 billion by 2024, owing to the usage of the product for improving the texture & flavor of stored seafood.
Sodium phosphate, ammonium phosphate, potassium phosphate, phosphoric acid, and calcium phosphate are some of the key food phosphate products. Potassium based food phosphate industry is predicted to grow at an annual rate of 3.5% over the coming seven years. Extensive product usage in canned fish, soft drinks, and processed meat will boost the revenue.
Calcium based food phosphate industry value is projected to reach USD 400 million by 2024, due to the high product usage in bakery and dairy items along with the rising preference for nutritious food. Phosphoric acid, which is widely utilized in the preparation of artificial fruit juices, is expected to make lucrative contributions towards food phosphate market revenue.
Sodium based food phosphate industry value will cross the revenue mark of USD 850 million by 2024, driven by high product application in commercial bakery items, meat, and canned soups along with rising demand for nutritive supplements.
Market participants will try to increase their consumer base by engaging in strategic collaborations, joint ventures, partnerships, and new product launches. Aditya Birla Group, Saminchem Incorporation, Haifa Chemicals Limited, Fosfa A.S., Nutriscience Innovations, Brewcraft, Sulux Phosphates Limited, FBC Industries Incorporation, Sichuan Zhituo Biochem Technology Industry Company Limited, The Potash Corporation, and ChemSol LLC are the key players of food phosphate industry.
Author Name :Dhananjay Punekar