One of the most diverse and significant components applicable in several end-use industries, fruit snacks market has witnessed unprecedented growth over the past several years. The importance of healthy snacks made with real fruit and vegetable juice, distinct flavors, and fruit concentrates are becoming an acceptable addition to children’s lunchboxes and favorable choice among many working mothers. Increased preference for products with add-on flavors has helped expand food production and will offer a tremendous boost to the thriving fruit snacks industry.
North America Fruit Snacks Market, By type, 2018 & 2025, (USD million)
A large number of consumers today are no longer prioritizing traditional mealtimes and have developed interest in snacking at unplanned intervals throughout the day. According to a 2018 survey, 92% of Americans say that they look for a snack in place of opting for a breakfast of meal. With rising inclination towards trusted brands, healthy snacks are complementing the consumer’s health-conscious mindset and will certainly stimulate manufacturers to boost product output, inadvertently benefiting fruit snacks industry outlook.
Innovative approach towards product development has emerged as one of the prominent driving factors for the advancements in food industry. For instance, in 2018 companies had invested $1.8 billion in new product launches in snack foods and sweets. Products which are newly launched and are in demand include gluten-free cookies, high energy granola snacks, savory extruded snacks, and a new twist on old favorites. Subsequently, consumption of organic products and shifting of consumer preferences towards nutritious and premium snacks will immensely transform fruit snacks market dynamics in the near future.
Many regional contenders and start-ups are adopting ways to focus on implementing new strategies, discover appealing flavors, and exploring innovative fruit blends to gain traction in the market. Welch had rolled out its new Superfruit Mix fruit snacks recently which contained blends of starfruit-kiwi, pomegranate-passionfruit, dragonfruit-blackberry, and goji–apricot. The company is consistently looking to offer more innovative fruit snacks choices for its consumers..
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As producers seek new launches to boost product portfolio, fruits snack industry could register a remarkable growth rate as compared to several other packaged food segments. The rising expansion of fruit concentrate puree market will also help augment the industry growth.
With increasing prevalence of obesity worldwide, finding and adapting to healthy diets have become a major factor influencing the buying behavior of consumers nowadays. Organic fruit snacks in the form of dairy products like Greek yogurt rich in high-protein, fruit and blended cottage cheese snack, along with no-bake yogurt fruit snack are frequently becoming popular among people. Owing to its nutrient-rich features and easy availability in supermarkets and online stores, there is a surge in purchase of these snacks. Reportedly, online retailers distribution channel segment in fruit snacks market is anticipated to register a CAGR of more than 9% over 2019-2025 with regard to annual revenues.
Several food manufacturers are enhancing and expanding their business landscape, engaging in partnerships and developing innovative flavors to gather audience and boost their online presence. An ideal example involves a recent acquisition of Kellogg Company’s cookies and fruit snacks business. In April 2019, the Ferrero Group had unveiled a definitive agreement in which it would formally buy the fruit-flavored snack, cookie, pie crust, and ice cream cone businesses from Kellogg Company for a total of US$1.3 billion. Similar acquisitions worldwide to meet the evolving product demand across several geographies will contribute substantially towards the expansion of fruit snacks industry.
Augmented consumption of flavor rich and functional snacks will have a notable impact on the overall growth of the packaged food sector. Numerous advantages as well as rising participation of regional contenders in promoting natural ingredient-based, healthy, and appetizing product range for customers with specific diet demands will fuel the development of fruit snacks industry.
Key players constituting the industry’s competitive hierarchy including Welch, Kellogg, Sunkist Growers, Bare Foods, SunOpta, Crunchies Natural Food, General Mills and Flapper. Global Market Insights, Inc. has estimated that fruit snacks market size will exceed US$8 billion in valuation by 2025.
Author Name : Deeksha Pant
Vitamin E market outlook: Cosmetics & Dietary applications to offer dynamic growth opportunities over 2016-2024.
Shifting consumer focus toward health and wellness benefits from vitamins consumption will surge the global vitamin E market. Increasing consciousness of adopting healthy food habits coupled with rise in spending capacity will significantly stimulate the vitamin E industry. According to Global Market Insights, Inc., “Vitamin E market size is estimated to grow at a CAGR of 3.5% over the period of 2016-2024.” Vitamin E has many benefits to the human health, including regulation of blood pressure, reproduction system, and in prevention of health problems. The trend of maintaining a healthy lifestyle which includes dietary supplements along with regular diets is equally popular across the developed as well as the developing economies. In addition to this, rising disposable incomes in these regions will boom the vitamin E industry in the coming years.
UK Vitamin E Market size, by application, 2013-2024 (USD Million)
Furthermore, growing geriatric population base in U.S., Europe, and Japan has multiplied the use of medications for the cure of disorders coupled with precautionary supplements which will help to stay healthy and fit. This scenario has stimulated the need for mandatory intake of vitamin E from supplementary sources fueling the vitamin E market size.
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Based on products, vitamin E market is segmented into synthetic vitamin E and natural vitamin E. Natural vitamin E is further categorized into Tocopherol and Tocotrienols by products. Tocopherol is naturally found in fish, vegetable oils, nuts, and leafy vegetables. Tocopherols is projected to surpass USD 300 million by 2024, owing to rise in per capita income and consumers’ willingness to spend more on nutrition and dietary supplements. Europe and U.S. are the largest contributors to the overall consumption, as the majority of the population is inclined towards maintaining healthy lifestyles in turn boosting the vitamin E industry.
U.S. vitamin E market is set to witness escalating gains, owing to healthy food consumption and high disposable income. Moreover, healthcare regulations are also contributing in driving the regional growth. U.S. vitamin E market generated revenue over USD 50 million in 2015 and is estimated to grow considerably in the coming seven years.
Europe vitamin E market is projected to expand significantly due to increase in consumption of dietary supplements. Moreover, rising demand for high protein diets, particularly in Russia and Germany has slated the Europe animal feed market size. Rising prescriptions and recommended health supplements from the health professionals will further complement the regional industry growth.
Cosmetics applications in the vitamin E market is witnessing high growth rate increasing at 7% over the period of 2016-2024. The willingness to pay more for the products which prevents skin ageing and assures various other skin benefits with UV protection & moisture content for healthy and youthful skin will generate huge scope for vitamin E industry share in the coming seven years. Its usage in sunscreen and other cosmetics products where vitamin E helps in reducing inflammation on the skin will escalate the industry growth over the coming timeframe.
Dietary supplements application is another lucrative segment assuring heavy gains in the vitamin E industry. Rising demand for nutritional edibles in the form of powders, liquids, tablets, pills, and capsules particularly in the western countries will spur the vitamin E market growth. Dietary supplements vitamin E demand is expected to register a CAGR of 4% over the period of 2016-2024. Reduction of migraine headaches, strengthening of the immune system, controlling blood pressure levels, and protection from flu and cold are the major benefits obtained from the consumption of these dietary supplements.
Another profitable segment in the vitamin E industry is the animal nutrition market, which was worth USD 1 billion in 2015. Growing meat export from Asia Pacific countries will generate animal nutrition demand. Rising prevalence of livestock diseases has enabled the usage of better animal nutrition in turn driving the vitamin E market. Moreover, rising cattle breeding in China, India, Russia, and Brazil will generate heavy demand for Animal feed additives market. Synthetic vitamin E is a major product used in animal feed industry.
Asia Pacific dominated the global meat production, which was projected to be over 130 million tons. China vitamin E animal nutrition market worth USD 70 million in 2015, is anticipated to surge noticeably over the coming seven years.
Presently the vitamin E industry is highly competitive with emerging markets from India and China. Moreover, many other industry participants are focusing on investigating substitute sources to improve the characteristic of vitamin E. The vitamin E market share is consolidated with top five industry participants catering to 50% of the global demand in 2015. The major market players include COFCO Tech Bioengineering DSM, BASF, American River Nutrition, Cargill, and ADM.
Author Name : Ojaswita Kutepatil
Nutraceutical industry to primarily drive carotenoids market size over 2016-2024: Global revenue to surpass USD 300 million by 2024
Rampant application of carotenoids across food & beverages, cosmetics, pharmaceuticals, and animal feed industries has fueled carotenoids market size. According to Global Market Insights, Inc., “Global carotenoids market share is projected to surpass USD 300 million by 2024.” Heavy use of carotenoids in the nutraceutical industry, owing to its positive effect on immune & cardiovascular system are expected to boost the carotenoids industry trends over the coming years. Higher spending on medical & healthcare insurance services along with the growing life expectancy of aging population is further expected to stimulate the global industry size over the next few years. Carotenoids act as a main precursor for amino acids in animal feeds and possess anti-oxidative characteristics, further enhancing its demand across animal feed additives market.
U.S. Carotenoids Market size, by product, 2015 & 2024 (USD Million)
Major carotenoids products comprise lycopene, beta-carotene, astaxanthin, lutein, and canthaxanthin. Beta-carotene industry size worth USD 40 million in 2015, is forecast to register an annual growth rate of 4% over the coming seven years. Heavy product demand can be attributed to its increasing usage as an essential ingredient in diets, to avoid ailments pertaining to the eyes, heart, and skin. Canthaxanthin, which contributed towards nearly 10% of the global carotenoids market share in 2015, is projected to witness a high surge over the next few years due to rising consumer preference for bakery items, snacks, breakfast cereals, fruits, and baby ingredients. Moreover, its extensive usage across cosmetics industry due to its anti-tanning properties will further stimulate the product demand over the coming years.
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Lutein is another major carotenoid product, forecast to witness a substantial growth in the near future. The growth will primarily be driven by its high demand across pharmaceuticals, food, dietary supplements, nutraceuticals, and animal feed applications. Lycopene industry worth USD 15 million in 2015, is expected to grow considerably over the next few years due to its high application in cosmetics and pharmaceuticals sectors.
Shifting focus of consumers towards natural products has pushed growth of natural carotenoids market. Natural carotenoids industry size is expected to register a CAGR of 4% over the period of 2016-2024. The other prominent extraction of carotenoids is from the synthetic sources. Synthetic carotenoids market dominated the source landscape with a market value of USD 190 million in 2015. Low production cost and easy availability of synthetic resources will boost its industry share over the forecast timeframe.
Carotenoids market size in food & beverage sector is anticipated to grow substantially over the forecast period, owing to its large-scale application as food additives globally. Animal feed sector, which accounted for nearly 30% of the overall carotenoids market share in terms of volume, is projected to grow considerably over the coming years. The growth can be credited to its high nutrient content and improved taste. Growing consumer preference towards healthy meat appearance is expected to boost the carotenoids industry growth.
LATAM carotenoids market is expected to witness a considerable growth over 2016-2024, owing to changing lifestyles, rise in per capita income, and high consumer awareness about the benefits of product use. Argentina, Peru, Brazil, and Chile are expected to be the key growth drivers of the region.
Europe carotenoids industry will witness a substantial surge over the coming years due to the rapidly expanding food sector along with heavy product use as food coloring agent. Russia, Germany, Italy, and France are likely to be the key revenue pockets of the region.
Middle East & Africa carotenoids market is projected to witness a significant growth over the next few years, owing to rise in the aging population as well as high demand for the product across health supplements sector.
Market players will try to enhance their share by adopting business strategies such as product differentiation and high R& D investments. Key carotenoids industry players include Cyanotech Corporation, Allied Biotech Corporation, Chr. Hansen, Divis Laboratories Limited, D.D. Williamson, and Naturex Company.
Author Name : Dhananjay Punekar
Probiotics market to accrue stupendous proceeds from food supplement applications, increased R&D activities to spur the global industry over 2018-2024
Owing to the extensive application spectrum across dietary supplements and functional food industries, the worldwide probiotics market is being increasingly referred to as one of the most promising business verticals around the globe. Apparently, the rising significance of functional foods can be attributed to the fact that these food additives are gradually and steadily acquiring a prominent position in the dietary profile of a sizeable number of health-conscious consumers.
U.S. Probiotic Ingredients Market Size, By Application, 2017 & 2024, (USD Million)
It goes without saying that this trend has, in turn, created a host of lucrative growth avenues for the leading probiotics industry participants which would eventually expand the market size of this business space. Furthermore, the growing awareness among customers pertaining to the health benefits that can be derived from the consumption of probiotic products is fueling the probiotics market progression. While interpreting the future growth prospects of the overall probiotics market space, it is quite imperative to bear in mind that the total valuation of this business arena stood at an impressive number in 2017, as per a report compiled by Global Market Insights, Inc.
Elaborating further, it is prudent to mention that the global probiotics market has been gaining traction due to a marked increase in the utilization of probiotic strains in various food applications. These probiotic strains, which predominantly include lactobacilli and bifidobacterial, actively develop resistance to bile, antimicrobial, and acid production which further assists in boosting the digestive and immune system, subsequently improving the overall human health.
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Citing an instance to highlight the rising prevalence of probiotic strains, the foremost probiotics industry giant, DuPont Danisco has recently claimed that the food products consisting of HN019, the firm’s Bifidobacterium lactis strain, have been recognized as Food with Function Claims by Consumer Affairs Agency of the Government of Japan. Dietary supplements, drinkable yogurts, and other food products containing HN019 as an ingredient are said to enhance microflora and improve digestive health by addressing intestinal ailments. Moreover, HN019 is being considered as the first Bifidobacterium lactis strain that has ensured a probiotic manufacturer to establish a health claim on the product.
Apparently, the recent instances of recognizing the health benefits of probiotic products it will enable consumers to make more informed decisions, consequentially having far-reaching implications on the growth potential of probiotics market. For the record, in the U.S. alone, probiotics market size from food supplements is likely to cross USD 5 million by 2024.
To complement the aforementioned statements, the global probiotics industry has been witnessing a marked increase in research activities which has further expanded the market size of this business space. Strong clinical evidences have been apparently emerging which have offered new insights into the efficacy and effectiveness of the existing food products in probiotics industry in treating mental ailments and neurological diseases. As per reliable sources, a few researchers and doctoral candidates would present the results of pilot studies at the upcoming IPA World Congress + Probiota 2018, which would reportedly demonstrate the tolerability and safety of probiotic supplements that can be used to treat depression. Apparently, the findings received from recently conducted pilot studies indicate compelling evidence that would underline the importance of probiotic supplements, something that will eventually provide a massive boost to the efforts being put in by the major probiotics industry players to expand their business and consumer reach.
Concurrently, the rising technological innovation in medicinal industry to inculcate probiotic foods in treating bad gut bacteria, intestinal inflammation, urogenital infections, microbial balance by lowering pH level, mental illness/disorders, reducing heart disease risks, and diagnosing and treating a range of other physical and mental health complications would embellish the future growth prospects of the overall probiotics market, which is forecast to exceed a valuation of USD 3 billion by 2024.
Author Name : Saif Ali Bepari