Research Reports And Consulting

The turf protection market refers to the industry that provides products and solutions to protect and enhance the health and appearance of turf, which is commonly found in lawns, sports fields, golf courses, and other landscaped areas. Turf protection involves measures to safeguard grass and other vegetation from various stresses, such as foot traffic, extreme weather conditions, pests, diseases, and other environmental factors. In terms of value, the turf protection market size is anticipated to grow at a compound annual growth rate (CAGR) of 4.9% to reach USD 8.1 billion by 2028 from USD 6.4 billion by 2023.
Trends that are shaping the turf protection industry:
Sustainability and Environmental Concerns:
There was a growing emphasis on environmentally friendly and sustainable turf protection solutions. This includes the use of organic fertilizers, biopesticides, and other eco-friendly products to minimize the environmental impact.
Advancements in Grass Seed Technology:
Ongoing research and development in grass seed technology aimed to produce varieties that are more resilient to diseases, pests, and environmental stresses. Drought-resistant and low-maintenance grass varieties gained popularity.
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Smart Irrigation Systems:
The integration of technology into irrigation systems was a notable trend. Smart irrigation systems that use sensors and data analytics to optimize water usage and improve efficiency were gaining traction.
Biological Solutions and Integrated Pest Management (IPM):
Integrated Pest Management practices were increasingly adopted, emphasizing a holistic approach to pest control. This involved combining biological controls, cultural practices, and minimal chemical inputs to manage pests effectively.
Turf Reinforcement and Protection from Wear:
Products designed to protect turf from wear and tear due to foot traffic, sports activities, and events were in demand. Turf reinforcement mats and other solutions for high-traffic areas were becoming more prevalent.
Sports Turf Innovations:
In the sports turf segment, there was a focus on innovations to enhance playing surfaces. This included technologies for improved drainage, aeration, and field maintenance to ensure optimal conditions for athletes.
Data-Driven Turf Management:
The use of data and analytics in turf management was gaining importance. Groundskeepers and turf managers were utilizing data to make informed decisions about irrigation schedules, fertilizer applications, and pest control.
Government Regulations and Standards:
Compliance with environmental regulations and standards related to turf management practices was becoming more critical. This trend was pushing the industry toward sustainable and responsible turf care practices.
Demand for Biological products drive the market due to increase in environmental awareness
Biological products are those that contain active compounds that are derived from microbial, plant, or animal sources and are prepared with micronutrients to help improve the general condition of the grass. Bio-based ingredients such as plant & animal extracts and fungi in biological products are more effective in controlling insects and pests found in turf; they also have less carcinogenic effects over prolonged usage, which makes them more favorable among turf managers. Colonies of helpful microorganisms multiply in the soil, which helps in enhancing soil quality by facilitating the availability of fertilizers and crucial nutrients to the turf. The use of herbicides and insecticides has the potential to contaminate groundwater; however, biological management of the grass may be able to reduce this risk. This makes biological turf protection more popular and with increased focus on usage of natural products, demand for biological turf protection remains optimistic.
South America to boost market growth during the forecast period
The South American region is segmented into Brazil, Argentina, and Rest of South America ( Chile and Colombia). The South American turf protection market is expected to grow in the coming years, driven by various factors such as the increasing demand for sports turf, the growing popularity of sports, and the development of sports infrastructure in the region. Brazil is the largest market for turf protection in South America, accounting for a significant share of the regional market. The country has a large number of sports clubs and facilities. Argentina, Chile, and Colombia are other key markets for turf protection in South America. These countries have a growing sports culture and have been investing in sports infrastructure in recent years.
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Leading organizations outlined:
Syngenta Crop Protection AG (Switzerland), UPL Limited (India), Corteva Agriscience (US), Nufarm (US), Bayer AG (Germany), BASF SE (Germany), SDS Biotech K.K. (Japan), AMVAC Chemical Corporation (US), Bioceres Crop Solutions (Argentina), Colin Campbell (Chemicals) Pty Ltd (Australia), ICL Group Ltd. (US), Andersons, Inc. (US), FMC Corporation (US), Soil Technologies Corporation (US), CoreBiologic (US)

The cheese market is a segment of the food industry that involves the production, distribution, and sale of various types of cheese. Cheese is a dairy product derived from milk, typically from cows, goats, sheep, or other mammals. It is produced in a wide range of flavors, textures, and forms, making it a versatile ingredient in cuisines worldwide. Various factors have played a major role in driving the cheese market growth across the globe. The effects of rapid westernization have led to the rising demand for cheese in countries other than Europe and the US. A sharp increase in consumer demand for packaged meals containing cheese and rising demand from the food processing industry is also propelling the market.The global cheese market size was valued at $88.7 billion in 2021 and is predicted to grow at a CAGR of 3.6% between 2021 and 2026, generating a revenue of $105.9 billion by 2026.

Various factors have played a major role in driving the cheese market growth across the globe. The effects of rapid westernization have led to the rising demand for cheese in countries other than Europe and the US. A sharp increase in consumer demand for packaged meals containing cheese and rising demand from the food processing industry is also propelling the market.

Cheese products are mainly derived from dairy-based sources. However, there is an increase in trends of consuming cheese products derived from plant sources. Owing to various health-related issues such as lactose intolerance, allergenic associated with dairy-based products, among other consumers are more inclined towards plant-based food products. Furthermore, an increase in consumer shift towards vegan products are also to drive the growth of plant-based food products such as cheese.

Key aspects of the cheese market include:

1. Types of Cheese: The market includes a wide variety of cheeses, ranging from soft cheeses like brie and camembert to hard cheeses like cheddar and parmesan. Each type has its own characteristics and uses.
2. Production: Cheese production involves processes such as milk pasteurization, curdling, draining, pressing, salting, and aging. Different cheese varieties require specific techniques and aging periods.
3. Global Market: The cheese market is global, with production and consumption occurring in many countries around the world. Certain regions are known for specific types of cheese due to local traditions and resources.
4. Consumption Trends: Consumption patterns vary depending on factors such as cultural preferences, dietary habits, and economic conditions. Some cheeses are more popular in certain regions or countries than others.
5. Health and Nutrition: Cheese is a significant source of various nutrients, including calcium, protein, and vitamins. However, it also contains saturated fats and salt, so consumption levels and choices may be influenced by health considerations.

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Market Drivers: Rising influence of western cuisines across the world

The rising influence of western cuisines, inflating disposable incomes, and introduction of a number of flavored cheese products, including pepper, garlic, red chili flakes, and oregano pickle, drives the cheese market. Although cheese is a staple in Western countries such as Europe and the US, its versatility enables it to cater to the different tastes and preferences of consumers globally.

The cuisines of Western countries are diverse, although there are common characteristics that distinguish them from those of other regions. There are hundreds of varieties of cheese and other fermented milk products used in Western cuisines. The effects of rapid westernization have led to the rising demand for cheese in countries other than Europe and the US. A sharp increase in consumer demand for packaged meals containing cheese and rising demand from the food processing industry are also propelling the market. In Asian countries, imports contributed more than 40% of overall cheese consumed in 2020. The rising demand in Asian countries, driven by rapid urbanization will drive the growth of Asian cheese market.

Home cooking and stocking of foodstuff to boost the market growth of the retail sector

Retail sales of cheese have surged amid the COVID-19 outbreak due to an increase in home cooking and intermittent lockdowns in most countries. The spike in demand for retail cheese is pointing to a demand for convenience, grab-and-go, and pre-sliced or pre-shredded cheeses. The emergence of door-to-door delivery of grocery items and dairy products has further propelled the cheese market as this concept offers convenience and easy procurement of desired products to consumers.

Lower prices of conventional cheese are expected to drive global demand.

Conventional cheese products have been around for a long time, with multiple varieties and styles crafted to meet global consumer demand, the market is considered saturated. However, with the advent of organic products, there has been a debate over the efficacy and safety of conventionally produced cheese. Conventional dairy cows that are raised in large-scale farming operations are treated with antibiotics for disease prevention. A study published by the Stanford University School of Medicine in October 2014 shows that this increased antibiotic usage may be spreading Salmonella bacteria among cows and livestock.

In the US, the FDA is responsible for direct inspectional coverage of all non-grade A products shipped in interstate commerce, including milk and milk products, cheese and cheese products, and butter. State and local regulatory agencies are responsible for the enforcement of sanitation requirements on dairy farms, in processing plants, dry milk plants, and receiving and transferring stations.

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Europe is projected to account for the largest market during the forecast period

The European cheese market is the largest in the world, and despite very high per capita consumption levels, market growth has remained attractive and stable. Cheese has provided better export opportunities than any other dairy product, as the willingness to pay for quality European cheese has always been high, and the impact of higher raw-material costs is less problematic. Due to the maturity of the cheese market, the strategic focus of key players is to consolidate current market positions by acquiring add-ons and facilitating new and innovative product development to stay ahead in the industry.

Major players profiled:

Arla Foods (UK), Fonterra (New Zealand), Glanbia (Ireland), The Kraft Heinz Company (US), Saputo (Canada), BEL Group (France), and FrieslandCampina (Netherlands).

The food antioxidants market is experiencing steady growth due to increasing consumer awareness about the health benefits of antioxidants and their role in preventing oxidation and deterioration of food products. Antioxidants are substances that inhibit the oxidation of other molecules, thereby protecting cells from damage caused by free radicals.The global food antioxidants market size was valued at US$ 1.5 billion in 2022 and is poised to grow from US$ 1.6 billion in 2023 to US$ 2.2 billion by 2028, growing at a CAGR of 6.2% in the forecast period (2023-2028).

Antioxidants are substances that stop the oxidation process, which could harm organisms' cells and lead to the creation of free radicals. They can be acquired naturally from a variety of fruits and vegetables, including raspberries, spinach, and eggplant, or they can be produced artificially and used as additions for a variety of uses. In addition to being widely utilised as a preservative in many processed food goods, it is also widely employed as an additive for fuel, plastic, and latex. Additionally, it plays a crucial role in many pharmaceutical and cosmetic items. Also contributing to the market's growth throughout the projected period will be the world's growing population, and the high demand for processed foods, provides an explosive rise.

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Key factors driving the growth of the food antioxidants market include:

1. Health consciousness: Consumers are increasingly seeking out foods with natural ingredients and health-promoting properties, including antioxidants. There is growing awareness about the potential health benefits of antioxidants, such as reducing the risk of chronic diseases like cancer and cardiovascular diseases.
2. Rising demand for natural antioxidants: With a shift towards clean-label and natural products, there is a growing demand for natural antioxidants sourced from fruits, vegetables, herbs, and spices. Manufacturers are responding to this demand by incorporating natural antioxidants into their food and beverage formulations.
3. Extension of shelf life: Antioxidants play a crucial role in extending the shelf life of food products by preventing oxidation and rancidity. As a result, food manufacturers are increasingly incorporating antioxidants into their products to enhance stability and prolong freshness.
4. Technological advancements: Ongoing research and development efforts are leading to the discovery of new and more effective antioxidants, as well as innovative technologies for incorporating antioxidants into food products without affecting their taste, texture, or appearance.
5. Regulatory support: Regulatory agencies worldwide are increasingly recognizing the importance of antioxidants in food preservation and safety. Regulatory approvals and certifications for antioxidant ingredients provide manufacturers with assurance regarding the safety and efficacy of their products.

Market Opportunities: Popularity of long shelf life of products due to usage of antioxidants as preservatives boosts the market

Awareness about food antioxidants is low, and emerging economies such as China and India are experiencing high industrialization. As these emerging economies grow and attain high disposable income, their demand for food antioxidants is also rising. The Asia Pacific region is exhibiting increased demand for prepared and functional foods & beverages, and hence, the region’s food antioxidants market is expected to grow. The demand for food antioxidants is expected to grow at a modest pace in early adopting countries such as Japan and Germany and at an exponential rate in new & emerging markets such as Thailand, Malaysia, and other Asian countries.

The growing global population is putting more pressure on producers for the manufacturing, extraction, and maintenance of scarce resources. High energy prices and rising raw material costs are impacting food prices, thus affecting low-income consumers. Pressure on food supplies is being exacerbated by water shortages, particularly across Africa and Northern Asia. Advances in science and technology are helping in extending the shelf life of foods to a greater extent. The need for marketing food preservatives to the smallest of food & beverage manufacturers is expected to augment the market size.

In emerging markets, where lifestyles are changing rapidly, the demand from workplaces and homes are competitively increasing, leading to a greater preference for convenience. Fast food is expected to increasingly become differentiated from junk food as quick and easy, but healthy options are preferred. Identifying ingredients with naturally high nutritional value could be a key opportunity for suppliers and manufacturers. An increase in the population of working women and the dominance of nuclear double-income families, especially in urban areas, are other trends shaping the changing lifestyles. Busy lifestyles and changing consumption patterns have led to an increased demand for processed, ready-to-cook, and ready-to-eat food, leading to increased brand-consciousness.

The fruits & vegetables in by natural sources segment accounted for the largest share of the food antioxidants market in 2023 in terms of value.

Naturally derived antioxidants from fruits and vegetables are gaining popularity in the food industry for several reasons. One of the factors is, health benefits of the naturally sourced antioxidants from fruits & vegetables. Fruits and vegetables are known to be rich sources of antioxidants such as vitamin C, vitamin E, and beta-carotene. These antioxidants have been shown to have numerous health benefits, such as reducing inflammation, improving cardiovascular health, and protecting against cancer. Consumers are increasingly interested in healthy food options, and many are looking for products that contain natural, plant-based ingredients. As a result, food manufacturers are responding to this demand by incorporating more fruits and vegetables, and their associated antioxidants, into their products.Another popular growing trend in the food industry is the clean label trend. The naturally derived antioxidants fit well with this trend, as they are seen as more natural and less processed than synthetic antioxidants. Mentioning in labels about the fruits & vegetable extracts is an additional marketing gain for food industries. Thus, these factors potentially drive the market segment in the food antioxidants market.

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The Asia Pacific region accounted for the largest share and fastest growing market, in terms of value, of the global food antioxidants market in 2023.

The Asia Pacific region dominates the food antioxidants market. The region has a large population, which has led to an increase in demand for processed food and beverages. This has in turn fueled the demand for food antioxidants. Secondly, the food processing industry in the Asia Pacific region is diverse and includes various sub-sectors such as meat and poultry processing, dairy processing, bakery and confectionery, and processed fruits and vegetables. Furthermore, the Asia Pacific region is home to many major foods processing companies, including Nestle, Danone, Fonterra, and Tyson Foods, among others. The region also has several local companies that are leaders in their respective markets. Thus, catering for all these food industries in this region have generated a high demand for the food antioxidants and accounted to be the largest share and fastest growing market.

Leading organizations outlined

• Archer Daniels Midland (Us)
• BASF SE (Germany)
• International Flavors & Fragrances Inc. (Us)
• Eastman Chemical Company (Us)
• DSM (The Netherland)
• Camlin Fine Sciences Ltd (India)
• Kemin Industries, Inc. (Us)
• Vitablend Nederland B.V. (The Netherlands)
• Divi’s Laboratories (India)
• Kalsec Inc. (Us)
• BTSA (Spain)
• Nexira (France)
• AOM (Argentina)
• Crystal Quinone Pvt. Ltd (India)
• VDH Chem Tech Pvt. Ltd (India)

The juice concentrates market has been a significant segment within the global beverage industry. Juice concentrates are concentrated forms of fruit or vegetable juices, typically obtained by removing the water content from the juice. This process helps in reducing the volume for transportation and storage, while also extending the product's shelf life. At a 4.9% CAGR, the global juice concentrates market is projected to grow at US$ 93.7 billion by 2027. In 2022, its valuation was US$ 73.7 billion.

Key points about the juice concentrates market include:

Types of Juice Concentrates:

• Fruit Concentrates: Common fruits used for concentrates include orange, apple, grape, pineapple, and others.
• Vegetable Concentrates: Tomato concentrate is a prominent example.

Applications:

• Juice concentrates are used in various industries, including the production of beverages, bakery products, dairy, and confectionery.
• In the beverage industry, they are utilized for making fruit juices, nectars, soft drinks, and other flavored drinks.

Market Drivers:

• Demand for Natural Ingredients: Consumers are increasingly seeking products made with natural ingredients, and juice concentrates often meet this demand.
• Convenience and Shelf Life: Concentrates offer convenience in handling and transportation and have an extended shelf life compared to regular juices.

Market Trends:

• Functional Beverages: Juice concentrates are being used in the production of functional beverages, incorporating health-promoting ingredients.
• Clean Label: There is a growing trend towards clean label products, driving the demand for concentrates without artificial additives or preservatives.

Regional Markets:

• The market is influenced by regional factors, with different fruits being more prominent in specific areas.
• Developing countries may experience increased consumption as their economies and middle-class populations grow.

Challenges:

• Health Concerns: Despite the natural aspect, some concentrates may have high sugar content, leading to concerns about their impact on health.
• Competition from Fresh Juices: The rise of fresh and cold-pressed juices poses a challenge to the concentrates market.

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The beverages segment is expected to dominate the juice concentrate market

The beverage industry is one of the most flourishing industries in the world and is influencing the juice concentrates indusry globally. Manufacturers are introducing new and innovative products to the market to suit the demand of the people who prefer fruit flavors in their drinks. Moreover, the health-conscious public has a high demand for health and energy drinks which has further driven the juice concentrates market as juice concentrates provide the required nutrition in these drinks. There is a high demand for flavored milk in developed regions such as Europe, which has led to the demand for fruit concentrates in milk to satisfy the consumers taste buds.

North America is projected to be the second-largest market in juice concentrate industry.

The North American juice concentrates market has an important share in the markets of fruits such as cranberry, lime, and lemon. The markets within North America studied for this report are the US, Canada, and Mexico. The U.S. contributes to two-thirds of the global cranberry production, and hence, the number of manufacturers of cranberry concentrates in this country is high. The juice concentrate market in Canada faces competitive pressure and unfavorable consumer trends. The manufacturers are most strongly affected by the change in per capita income, health trends, prices of substitutes, and weather conditions. This is due to the geographic location of the country. The increased demand for convenience food products offers growth opportunities to juice concentrate manufacturers. Major players in the juice concentrate market in the region are also innovating their product offerings to improve their product portfolios.

Leading organizations outlined

Archer Daniels Midland Company (US), Südzucker AG (Germany), Ingredion Incorporated (US), SunOpta, Inc (Canada), Kerry Group PLC (Ireland), IPRONA SPA (Italy), Symrise AG (Germany), Döhler Group SE (Germany), SVZ International B.V (Netherlands), and Kanegrade Limited (UK).

Key questions addressed by the juice concentrates market report -

How big is the global juice concentrates market in the coming years?

What was the size of the global juice concentrates market in 2022?

What is the target market for juice products?

Who are the juice concentrates manufacturers and suppliers in the USA?

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The global food preservatives market is witnessing steady growth due to the increasing demand for processed and convenience foods, coupled with the rising awareness regarding food safety and shelf-life extension. Various factors, including urbanization, changing lifestyles, and the expansion of the food and beverage industry, were driving this growth.Several types of food preservatives were prevalent in the market, including natural preservatives like salt, sugar, vinegar, and rosemary extract, as well as synthetic preservatives such as benzoates, sorbates, sulfites, and nitrites. Natural preservatives were gaining popularity due to the growing consumer preference for clean label products and concerns over the safety of synthetic additives.

The global food preservatives market size was valued at US$ 3.3 billion in 2022 and is poised to grow from US$ 3.4 billion in 2023 to US$ 3.9 billion by 2028, growing at a CAGR of 3.0% in the forecast period (2023-2028).

Food preservatives are compounds that are added to food products to help them last longer and prevent deterioration. They aid in the inhibition of bacteria, fungus, yeasts, and other microorganisms that can cause foodborne sickness or degradation. Preservatives are widely utilised in processed and packaged foods, as well as some homemade and professionally produced goods. The food preservatives industry is bound to rise with high demand for processed food, the rise in meat consumption, and rising demand for products with an extended shelf life. New innovations are taking place in the natural preservatives segment owing to the rise in demand for clean-labeled ingredients in the European and North American market. This is also fueling the overall growth of the industry.

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Market Drivers: Growing demand for food products with an extended shelf life

With the rise in urbanization and employment globally, consumer lifestyles and eating habits have changed drastically. Consumers are thus looking for food products that are easy to prepare, consume, and have a longer shelf life. Food preservatives play a huge role in extending the shelf-life of food apart from keeping it fresh. Thus, with the rise in demand for food with longer shelf-life, the demand for food preservatives has increased in the food and beverage industry. This is because preservatives offers food manufacturers advantages in terms of storage efficacy and competitive pricing. Moreover, post COVID-19 pandemic, health consciousness has rose, which is also positively stimulating the growth of natural preservatives such as citric acid and rosemary extracts, thereby driving the overall market.

By function, other functions which include chelating agents and enzyme inhibitors is projected to be the fastest growing segment in the food preservatives market.

Other functions is the fastest growing segment by function in the food preservatives market during the forecast period. Other functions include chelating agents and enzyme inhibitors. They prevent spoilage of food products by inhibiting enzymatic processed such as ripening after harvest. Consumer preferences for healthy and sustainable food choices are driving the market for biodegradable chelating agents, making them the fastest growing segment by function in the market.

Several trends shaping the food preservatives market:

1. Clean Label: Consumers are increasingly demanding natural and clean label products, leading to a shift away from synthetic preservatives. This trend is driving the use of natural preservatives derived from herbs, spices, and other plant-based sources.
2. Health and Wellness: Rising health consciousness among consumers is influencing their food choices. Manufacturers are responding by developing preservatives that meet clean label requirements while also offering health benefits, such as antioxidants and antimicrobial properties.
3. Sustainable Preservation: Sustainability concerns are driving the development of eco-friendly preservatives and packaging solutions. This includes bio-based preservatives derived from renewable sources and packaging materials designed to minimize food waste and environmental impact.
4. Technological Advancements: Ongoing research and development efforts are leading to the discovery of new preservation technologies, including advanced packaging systems, nanotechnology, and natural antimicrobials. These innovations aim to enhance food safety and extend shelf life without compromising quality.
5. Regulatory Landscape: Stringent regulations regarding food safety and labeling requirements are shaping the market dynamics. Manufacturers must comply with regulatory standards while also addressing consumer preferences for natural and safe ingredients.
6. Globalization of Food Supply Chains: With the globalization of food supply chains, there is an increasing need for effective preservation techniques to ensure the safety and quality of food products during storage and transportation across borders.
7. Shift Towards Convenience Foods: The growing demand for convenience foods, including ready-to-eat meals and snacks, is driving the need for effective preservation methods to maintain product freshness and extend shelf life.

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The starch derivatives market refers to the industry involved in the production, distribution, and consumption of various derivatives derived from starch. Starch is a carbohydrate commonly found in plants and serves as a significant source of energy for humans. Starch derivatives are modified forms of starch that are used in various industries for their functional properties. The global starch derivatives market size was valued at US$ 56.4 billion in 2022 and is poised to grow from US$ 57.9 billion in 2023 to US$ 68.4 billion by 2028, growing at a CAGR of 3.4% in the forecast period (2023-2028).

Key starch derivatives include:

1. Modified Starch: Modified starch is produced by physically, enzymatically, or chemically altering the properties of native starch. This modification enhances properties such as stability, viscosity, and gelatinization, making it suitable for a wide range of applications in food, pharmaceuticals, and industrial sectors.
2. Sweeteners: Starch can be enzymatically hydrolyzed to produce sweeteners like glucose, maltose, and high fructose corn syrup (HFCS). These sweeteners are widely used in the food and beverage industry as alternatives to sucrose due to their sweetness and functional properties.
3. Starch Esters: Starch esters are produced by esterification of starch with fatty acids or organic acids. These derivatives are used as emulsifiers, thickeners, and stabilizers in food, pharmaceuticals, and personal care products.
4. Cyclodextrins: Cyclodextrins are cyclic oligosaccharides produced by enzymatic degradation of starch. They are used in pharmaceuticals, food, and cosmetics industries for their ability to encapsulate and stabilize active ingredients.
5. Dextrins: Dextrins are produced by partial hydrolysis of starch and are used as binders, thickeners, and texturizers in food and pharmaceutical formulations.
6. Starch Derivatives for Biodegradable Polymers: Starch-based biopolymers are increasingly used as alternatives to conventional plastics due to their biodegradability and renewable nature. Starch derivatives play a crucial role in the production of these biodegradable materials.

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Drivers: Functional properties of starch derivatives and their incorporation in a wide range of food applications

Starch derivatives have various functions; it is used as a thickener, texture agent, fat replacer, and emulsifier. The advanced technology used for processing these starches develops several highly functional ingredients that can be customized to meet the demand for most formulating challenges. Recently, health-conscious consumers have raised concerns about reducing the dietary caloric intake to avoid complications of obesity. Some modified starches are increasingly being used as fat replacers and substitutes. They provide the requisite mouthfeel; lend a glossy, fat-like appearance; and allow less fat pickup in fried foods. They are used in the formulation of dietary foods, such as vegetable soups and snacks. With these functional properties, the usage of starch derivatives in a wide range of applications is expected to drive the overall market.

Asia Pacific is poised to experience the highest CAGR in the starch derivatives market during the forecast period.

The region's remarkable economic growth has led to increased consumer purchasing power, which, in turn, has boosted demand for processed foods and beverages. Starch derivatives play a crucial role in this sector as thickeners, stabilizers, and texture enhancers, driving their growth. Additionally, Asia-Pacific countries are among the world's leading producers of starch-rich crops like rice, wheat, and cassava, ensuring a stable supply of raw materials for starch extraction. This accessibility to feedstock supports the development of a strong starch derivatives market in the region. Furthermore, the region's increasing focus on sustainability and eco-friendly practices has led to the utilization of starch derivatives for their renewable and biodegradable characteristics, catering to the growing demand for green solutions. As the Asia-Pacific region continues to experience economic expansion and evolving consumer preferences, starch derivatives are poised to witness substantial growth during the forecast period, making it the region with the highest CAGR in the starch derivatives market.

Leading organizations outlined

Key players in this market include Cargill, Incorporated (US), ADM (US), Tate & Lyle PLC (UK), AGRANA Beteiligungs-AG (Austria), Roquette freres (France), Ingredion Incorporated (US), Green Processing Corp. (GPC) France, Avebe (Netherlands), Emsland Group (Germany), Foodchem International Corporation (China), Sukhjit Starch & Chemicals Ltd. (India), Universal Starch Chem Allied Ltd (India), Primient (US), SPAC Starch Products (India) Private Limited (India), and JP&SB International (Spain).

The starch derivatives market is expanding due to increased demand for convenience, ready-to-eat foods, and eco-friendly packaging.

The industry is actively promoting sustainable sourcing practices, emphasizing responsible supply chain management, and eco-friendly production. These efforts meet the growing preference for environmentally conscious products among consumers. Clean-label starch derivatives have emerged as a compelling trend within the market. These cleaner and more naturally formulated products, with fewer additives, address the increasing demand for transparency in consumer choices. Furthermore, starch derivatives are pivotal in responding to the health and wellness trend. They are effectively utilized to reduce fat and sugar content in processed foods, catering to health-conscious consumers. The adoption of 3D printing for innovative packaging using starch-based biodegradable materials represents a significant paradigm shift. This pioneering technology not only aligns with sustainability goals but also offers fresh possibilities for enhancing packaging aesthetics in the food and beverage sector.

Asia-Pacific region is experiencing a significant upswing, driven by the increasing preference for gluten-free and reduced-calorie products. Post-COVID, heightened health consciousness among consumers has become a prominent trend. Starch derivatives play a pivotal role in meeting this demand by offering textural and functional benefits in healthier food options. As health-conscious consumers seek better dietary choices, the Asia-Pacific starch derivatives market is poised for substantial growth.

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In starch derivatives, corn takes the lead, offering high starch content and clean-label consumer preference.

Corn is a widely cultivated crop in various regions, ensuring a consistent and substantial source of starch. The grain's starch content is higher than many other sources, making it an efficient raw material for starch extraction. Additionally, the corn-derived starch can be processed into a wide range of derivatives, including glucose syrup, maltodextrin, and high-fructose corn syrup, each finding extensive use in food, beverage, and industrial applications. The United States is witnessing a surge in demand for corn due to the availability of non-GMO (non-genetically modified organism) corn varieties. This is in line with the preferences of consumers who are increasingly seeking non-GMO and clean-label products. As a result, corn has become a favored source for starch derivatives in the region, catering to the growing consumer demand for more natural and transparent food choices. Furthermore, the cost-effectiveness of corn-based derivatives and the development of advanced processing technologies have solidified its position as the leading source in the starch derivatives market. 

The personalized nutrition market is an emerging sector within the health and wellness industry that aims to offer customized dietary advice and recommendations based on an individual's unique genetic makeup, lifestyle, and personal preferences. The market is driven by growing consumer awareness of the link between diet and health, as well as advancements in technology that enable personalized nutrition services. The global personalized nutrition market size was reasonably estimated to be approximately $11.3 billion in 2022 and is poised to generate revenue over $23.3 billion by the end of 2027, projecting a CAGR of around 15.5% from 2022 to 2027. With the increasing demand for tailor-made dietary plans, personalized nutrition is emerging as a promising sector, presenting businesses with an attractive opportunity to tap into this burgeoning market. The convergence of technology, genomics, and nutrition is fueling the growth of the personalized nutrition industry, enabling consumers to customize their diets based on their genetic makeup, lifestyle, and health goals.

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North America is projected to account for a major share of the personalized nutrition market during the forecast period

North America is projected to dominate the global personalized nutrition market during the forecast period. This is attributed to various emerging players present in the region that are focusing on developing solutions for personalized nutrition. Personalized nutrition companies present in the region contribute to the growth of the overall market. Some of the major players headquartered in the region are Herbalife Nutrition Ltd. (US), Amway (US), Wellness Coaches USA, LLC. (US), Care/of (US), Viome Life Sciences, Inc. (US), Persona Nutrition (US), Balchem Corporation (US), and Zipongo, Inc. (US).

The direct-to-consumer segment is anticipated to dominate the personalized nutrition market during the review period

By end use, the direct-to-consumer segment is projected to hold a major share of the personalized nutrition market. Consumers have become increasingly aware of what they consume, whether it’s food, drinks, or supplements. The growing trend of adopting keto, paleo, vegan, and plant-based diets has led to increased use of personalized nutrition services such as apps and programs by households.

Market Drivers: Shift in consumer preferences due to the rising health awareness

As people become more conscious of holistic well-being, the demand for personalized diets and supplements has increased significantly. The growing consumer health awareness and rising disposable income across regions have encouraged people to shift to personalized nutrition. The changing consumer preferences for health and wellness products have led to high demand for individually customized diets. There is an increasing trend of adopting a genetically based personalized diet due to consumers being more nutrition-specific. People are increasingly moving from regular supplements to personalized dietary supplements and nutrition plans customized according to their genetic make-up that addresses their health concerns. With changing preferences due to increased health awareness, consumers are increasingly seeking personalization in their daily experiences and shifting away from the ‘one-size-fits-all’ approach.

The active measurement segment is projected to account for a larger share of the personalized nutrition market

Based on product type, active measurement is projected to hold a larger share in the personalized nutrition market. Active measurements considered in this study include apps, testing kits, and programs for personalized nutrition. Many players, such as Persona Nutrition (US), in the personalized nutrition market, offer nutritional supplements incorporated into individualized plans for customers. As consumers have become increasingly inclined toward personalized approaches, genomic testing kits for personalized nutrition are used widely to assist consumers with DNA-based diets.

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Primary companies highlighted:

Amway (US), BASF (Germany), DSM (Netherlands), Herbalife Nutrition Ltd (US), DNAfit (UK), Care/of (US), Nutrigenomix (US), Zipongo (US), Viome (US), Habit (US), and Atlas Biomed Group Limited (UK)

The food fortifying agents market refers to the industry involved in the production, distribution, and sale of additives or ingredients used to fortify food products with essential nutrients. Food fortification is the process of adding micronutrients such as vitamins, minerals, and amino acids to food items to address deficiencies in diets and improve overall health outcomes.

The global food fortifying agents market is estimated to reach $128.0 billion by 2027, growing at a 10.1% compound annual growth rate (CAGR). The global market size was valued at $79.3 billion in 2022. 

With such remarkable figures on the horizon, the global market is undoubtedly one to watch out for.The food fortifying agents industry is poised for significant expansion in response to the growing emphasis on health and wellness among consumers. With a surge in demand for products that offer added nutritional benefits, there is a unique opportunity for innovation and growth in the market. As the aging population grows and health concerns become more prevalent, the adoption of food fortifying agents for a variety of applications is expected to increase on a large scale. This trend is set to drive the market forward, creating new avenues for manufacturers and suppliers to cater to the evolving needs of health-conscious consumers.Key factors driving the growth of the food fortifying agents market include:

1. Rising awareness about nutrition: Increased awareness among consumers about the importance of a balanced diet and the role of essential nutrients in preventing diseases has led to a growing demand for fortified food products.
2. Government initiatives and regulations: Many governments have implemented regulations mandating the fortification of certain food items with specific nutrients to combat malnutrition and nutrient deficiencies in populations.
3. Increasing health consciousness: With a growing focus on health and wellness, consumers are actively seeking out food products that offer added nutritional benefits, driving the demand for fortified foods.
4. Technological advancements: Advances in food processing and fortification technologies have made it easier and more cost-effective for food manufacturers to incorporate fortifying agents into their products without compromising taste or texture.
5. Expansion of the food industry: The expansion of the food and beverage industry, particularly in emerging markets, is creating opportunities for food fortifying agents manufacturers to cater to the increasing demand for fortified products.

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North America dominated the food fortifying agents market, and is projected to grow with a CAGR of 9.8% during the forecast period (2022 - 2027)

The key players in the North American market include Cargill (US) and FMC Corporation (US). Technological advancements have made food fortifying agents available for a wide range of applications in the food & beverage sector, which is estimated to drive the growth of the market in the region. The North American market is witnessing continued growth in sectors such as bulk food items, fats & oils, dietary supplements, and fortified cereals & beverages. Increased consumer demand and innovations in technologies are the key factors driving the market. Fortifying agents are extensively researched and scientifically proven functional food ingredients. In Canada, the situation of food fortification is changing. For many years, food fortification has been tightly regulated. The policy currently being crafted is likely to result in expanded options for food fortification, particularly in the area of discretionary fortification.

In the food fortifying agents market, dietary supplements application segment is registering the highest growth during the forecast period.

Growing incidences of chronic diseases, rise in the aging population, and the growing trend of health & wellness is driving the dietary supplements segment. It is projected to grow at the highest CAGR of 10.2% from 2022 to 2027. Dietary supplements are concentrated sources of nutrients or other substances with nutritional or physiological benefits, either provided alone or in combination, marketed in a pharmaceutical dose form and administered orally. Many European countries have adopted the highly restrictive CODEX standards for the supplements, which eliminate the consumer’s ability to purchase dietary supplements in therapeutic dosages. Codex Alimentarius (Latin for “Food Code”) is the United Nation’s proposed set of international guidelines for nutritional supplements, food handling, production, and nutrients.Middle-class consumers in Asia are also showing an interest in nutrition and supplements due to urbanization and increasing income levels. This has led to an increase in the demand for omega-3 nutritional supplements due to the numerous health benefits they provide.Minerals segment is the fastest growing among the various types of food fortifying agents during the forecast period.Minerals are inorganic elements derived from soil and water and absorbed by plants. Mammals absorb minerals from the plants they consume. This is further segmented into micro minerals and macro minerals. Both are equally important; however, micro minerals are required in smaller amounts than macro minerals. The segment is registering the highest growth in market owing to its use in applications such as mineral supplements, meat products, breakfast cereals, infant foods, and health drinks among others.

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Major players profiled

Cargill, (US), DSM (Netherlands), Chr. Hansen Holdings A/S (Denmark), DuPont (US), BASF SE (Germany), Arla Foods Amba (Denmark), Tate & Lyle (UK), Ingredion (US), Archer Daniels Midland Company (US), and Nestle SA (Switzerland) 

The yeast market has been experiencing steady growth driven by various factors such as increased demand for convenience foods, rising consumption of bakery products, and expanding application scope in the pharmaceutical and animal feed industries. Yeast is a versatile ingredient used in baking, brewing, winemaking, and as a flavor enhancer in savory dishes.

The global yeast market size is on a trajectory of significant expansion, projected to reach USD 8.5 billion by 2029 from the 2024 valuation of USD 5.5 billion, displaying a promising CAGR of 8.9%. The growth of the yeast market is expected to be driven by factors such as the awareness of the health advantages linked with yeast ingredients and products, particularly in food and feed applications. Increasing demand from the baking and brewing sectors, along with shifting consumer preferences towards yeast-based food and beverages globally, further contributes to this growth. Moreover, the rising preference for natural and clean-label ingredients in food and beverage products has further propelled the yeast market forward. As consumer preferences continue to evolve towards healthier and sustainable options, the yeast market is expected to witness sustained growth, with innovations likely to drive further diversification in applications and product offerings.

Key trends in the yeast market include:

1. Growing Demand for Bakery Products: Yeast is a crucial ingredient in breadmaking, and with the increasing consumption of bakery products globally, the demand for yeast has been on the rise.
2. Expanding Application in the Food and Beverage Industry: Yeast finds applications beyond baking, including brewing, winemaking, and the production of various fermented foods and beverages. As consumer preferences for these products evolve, so does the demand for yeast.
3. Health and Wellness Trends: There's a rising interest in healthier and natural ingredients among consumers. Yeast, particularly nutritional yeast, is gaining popularity as a source of vitamins, minerals, and protein, especially among vegan and vegetarian populations.
4. Technological Advancements: Advances in biotechnology and fermentation processes have led to the development of improved yeast strains with enhanced functionalities, such as increased tolerance to stress conditions, improved flavor profiles, and higher nutritional content.
5. Regional Market Dynamics: The yeast market's growth varies by region, influenced by factors such as economic development, population growth, dietary preferences, and the presence of key players in the market.
6. Sustainability Initiatives: With increasing environmental concerns, there's a growing emphasis on sustainable production practices in the yeast industry. This includes efforts to reduce energy consumption, optimize resource utilization, and minimize waste generation.

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By type, the baker’s yeast segment is projected to account for the largest share of the yeast market.

During the forecast period, the baker's segment is expected to lead the market in terms of type, primarily due to the cost-effectiveness and extensive applications of baker's yeast across various industries, including food and feed. The expansion of the baker's yeast market correlates directly with the growing consumption of bakery products, especially bread, particularly in developed regions.

Notably, the All India Bread Manufacturer's Association (AIBMA) reports that India's per capita consumption of bread is estimated to be around 1.5 kg to 1.75 kg. This surge in bakery product consumption, particularly bread, is a significant driver behind the anticipated growth of the baker's yeast segment in the market throughout the forecast period. Additionally, advancements in baking technology and the increasing popularity of artisanal bread are expected to further fuel the demand for baker's yeast in the global market.

In North America, the US dominates the yeast market due to rising trade opportunities.

The rise in trade opportunities has positioned the United States as a dominant force in the Yeast market within North America. With a notable export volume of USD 147 million in 2022, the United States emerged as the sixth-largest exporter of Yeast globally, showcasing its significant presence in the international market. Notably, the main destinations for US Yeast exports include Canada, Mexico, and Japan, indicating a diverse reach across different regions. Moreover, the fastest-growing export markets for US Yeast, such as Canada, Italy, and Japan, highlight the country's ability to capitalize on expanding trade avenues. Additionally, while the United States imports substantial amounts of Yeast, totaling USD 439 million in 2022, its status as the largest importer globally provides leverage in negotiating favorable trade terms and strengthening its position as a dominant player in the North American yeast market. This robust trade activity underscores the United States' growing influence and competitiveness in the global Yeast trade landscape, particularly within the US region.

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Prominent firms featured

The key players in this market include ADM (US), Associated British Foods plc (UK), Alltech (US), AngelYeast Co., Ltd (China), Lallemand Inc. (Canada), ICC (Brazil), Leiber (Germany), Lesaffre (France).

The global animal intestinal health market was experiencing steady growth, driven by several factors including increasing consumer awareness about animal health and wellness, rising demand for high-quality animal products, and the growing need for natural alternatives to antibiotics in animal feed. The global animal intestinal health market is estimated to reach $5.4 billion by 2027, growing at a 8.2% compound annual growth rate (CAGR). The global market size was valued $3.7 billion in 2022.

With the increase in demand for animal protein-based products, livestock breeders are focusing on investing in various feed additives to ensure improved intestinal health, which is one of the key factors encouraging the growth and well-being of different livestock species. Key factors, such as an increase in the consumption of feed and feed additives, steady growth in the market for meat and meat products, and a shift toward natural growth promoters have contributed to the growth of the animal intestinal health market. Furthermore the use of feed additives such as probiotics, prebiotics and phytogenics has proven to have a positive impact on the intestinal health of various livestock species, further boosting the growth of animal intestinal health market in the coming years. Countries such as the US, China, and Brazil are among the major producers and consumers of feed and feed products. The increase in demand for poultry, beef, and pork meat products has contributed to the growth of the compound feed market in these countries. Owing to this, the stakeholders in these markets are actively including natural growth promoters like probiotics in the manufacturing of feed. Thus, with the rising demand for feed additives such as probiotics, prebiotics and phytogenics in the compound feed industry, the animal intestinal health market is anticipated to witness a positive growth during the forecast period.

Key trends and factors shaping the animal intestinal health market include:

1. Shift towards Natural Solutions: There has been a significant shift away from the use of antibiotics in animal feed due to concerns about antibiotic resistance and the spread of antibiotic residues in food products. This has led to a growing demand for natural alternatives such as probiotics, prebiotics, organic acids, and essential oils to promote intestinal health in animals.
2. Regulatory Changes: Regulatory agencies around the world are implementing stricter regulations on the use of antibiotics in animal feed, driving the adoption of alternative solutions for promoting animal intestinal health. For example, the European Union banned the use of antibiotic growth promoters in animal feed in 2006, leading to increased demand for alternatives.
3. Rising Demand for Animal Protein: As global populations continue to grow, there is increasing demand for animal protein products such as meat, milk, and eggs. Maintaining intestinal health in animals is essential for maximizing productivity and ensuring the quality of these products, driving the adoption of intestinal health solutions in animal husbandry practices.
4. Increasing Livestock Production: Rapid urbanization and rising incomes in developing countries are leading to increased demand for animal products, driving growth in the livestock production sector. As a result, there is growing awareness among livestock producers about the importance of intestinal health in improving animal performance and reducing the risk of diseases.
5. Technological Advancements: Advances in biotechnology and microbiology are leading to the development of innovative products and solutions for promoting intestinal health in animals. For example, researchers are exploring the use of microbial-based feed additives and precision microbiome management techniques to optimize intestinal health and improve animal productivity.
6. Focus on Preventive Healthcare: There is a growing emphasis on preventive healthcare in animal agriculture, driven by the need to reduce the use of antibiotics and improve overall animal welfare. Proactive measures to maintain intestinal health, such as the use of probiotics and dietary supplements, are becoming increasingly popular among livestock producers.

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Market Drivers: Increasing application of animal health ingredients in feed products to enhance livestock production and to ultimately improve animal protein quality

The rise in population, incomes, and urbanization are the key factors, which contribute to the unprecedented growth of the livestock sector. The result is increased consumption of food products, such as meat, eggs, and milk has increased. As demand is anticipated to rise, the increased production demand for healthy and nutritive poultry meat will propel the market growth. The increase in awareness among consumers about the health benefits associated with the consumption of animal protein, such as improved bone health, immunity, and reduction in protein deficiencies, is also one of the several factors due to which the demand for livestock products remains high. The increase in demand for livestock products has led the stakeholders to use to feed addtitives such as probiotics, prebiotics and phytogenics to improve the animal health. For instance, digestive disorders such as stomach ulcers, swine dysentery, and transmissible gastroentrities among others are common in pigs. In order to avoid this orders and ensure effective animal health the feed additives such as phytogenics are being used in pigs.

This research report categorizes the Animal intestinal health market based on Additive, Livestock, Form, Function, Source.

By Additive

• Probiotics
• Prebiotics
• Phytogenics
• Immunostimulants

By Livestock

• Poultry
• Ruminants
• Swine
• Aquaculture
• Other Livestock

By Form

• Dry
• Liquid

By Function

• Metabolism
• Weight Gain
• Nutrient Digestion
• Disease Prevention
• Bone and Joint Health

By Source

• Microbial
• Plant Based

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South America  is projected to be the second fastest growing market in terms of value

In recent years, there have been several changes in dietary habits and consumption patterns of the population in developing countries, such as Brazil and Argentina, where the shift toward increased consumption of meat and dairy products has been witnessed. Consumers are becoming health-conscious and are focusing on opting for nutrition-rich products derived from livestock, which is provided by enriched feed products. This increase in demand for various animal products, such as milk, meat, eggs, and dairy products, has led to a rise in the usage of feed probiotics and prebiotics, as these products help improve the gut health of the livestock. This increase in industrialized livestock production is another major factor encouraging market growth in South America.

Innovations and technological advancements in the overall animal health and nutrition sector

With the ban on antibiotics in European countries, innovations for effective and sustainable feed additives have been a major focus area by the market players in the feed industry. Feed additives such as probiotics and prebiotics are anticipated to act as substitutes for harmful feed additives like antibiotics which adversely impact the animal health. The increased focus on animal health and the rising demand for advanced solutions by the stakeholders along the value chain pose an attractive growth opportunity for the animal intestinal health  market. For instance, in November 2020, Evoniks Animal Nutrition business line launched Ecobiol Fizz, the first probiotic for chicken in effervescent tablet form. The product contains a microbial strain of the species Bacillus amyloliquefaciens, which is used to stabilize the intestinal microbiota of broilers and chickens reared for laying, particularly during stressful periods, such as breeding.

Significant businesses showcased

• Cargill, Incorporated (US)
• Koninklijke DSM N.V. (Netherlands)
• Archer Daniels Midland Company (US)
• DuPont de Nemours, Inc. (US)
• Evonik Industries (Germany)
• Novozymes (Denmark)
• Nutreco (Netherlands)
• Chr. Hansen Holdings (Denmark)
• Bluestar Adisseo Pvt Ltd. (China)

The global probiotics market is experiencing steady growth, driven by increasing consumer awareness about the health benefits of probiotics, rising demand for functional foods and beverages, and growing concerns about digestive health. Probiotics are live microorganisms that confer health benefits when consumed in adequate amounts. They are often added to a variety of products such as yogurt, fermented foods, dietary supplements, and even skincare products.

The probiotics market size is projected to reach USD 105.7 billion by 2029 from USD 71.2 billion by 2024, at a CAGR of 8.2% during the forecast period in terms of value. The probiotics market is experiencing significant growth due to a growing interest in preventive healthcare among consumers, who perceive probiotics as a natural means to enhance gut health and digestion. Awareness of gut-related issues is increasing, prompting individuals to seek potential relief through probiotic consumption. The demand for functional foods fortified with probiotics is on the rise, expanding the range of probiotic options available to consumers beyond traditional supplements.

The End Use is predominantly driven by the human segment due to rising awareness, product innovation, and preventive healthcare focus.

Rising awareness of gut health and the burgeoning understanding of the gut microbiome's influence on overall well-being have propelled demand for probiotic products among consumers. This heightened awareness, coupled with the perceived benefits of probiotics for digestive health, immune support, and mental well-being, has led to a surge in demand for human-targeted probiotic formulations. Moreover, continuous product innovation within the human segment, including personalized formulations targeting specific health concerns and innovative delivery methods such as chewable tablets and controlled-release capsules, has further fueled market growth. Probiotics have expanded beyond traditional supplements and yogurt, penetrating various applications such as fortified foods, beverages, and topical applications, thereby catering to a wider audience and driving the sustained growth of the human segment within the probiotic market.

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Asia Pacific dominated the Probiotics market during the study period.

The presence of established probiotic brands such as Yakult Honsha Co., Ltd. (Japan) has cultivated a culture of probiotic consumption, laying a robust foundation for market expansion. Furthermore, the region boasts a strong presence of companies, including MORINAGA MILK INDUSTRY CO., LTD. (Japan), Meiji Holdings Co., Ltd. (Japan), and Unique Biotech Ltd (India).

Moreover, the Asia Pacific region's dominance is reinforced by a growing health consciousness among consumers, highlighted by expanding awareness of the gut microbiome's impact on health. This trend, underscored by a June 2022 study published in the National Institutes of Health (NIH) journal, Nutrients, drives demand for probiotics addressing various health concerns, including digestive issues and immune function. The market's embrace of innovation is evident through the diversification of probiotic applications beyond traditional products like yogurt, encompassing fortified foods and beverages, topical applications for skin health, and even pet probiotics. This robust market ecosystem is further augmented by the growing popularity of e-commerce platforms, favorable regulatory environments, and government healthcare initiatives promoting preventive healthcare and healthy lifestyles across the region.

In probiotics, the surge in functional food and beverage product types is driven by consumer demand for convenient health solutions and dietary diversity.

Functional food and beverages seamlessly integrate probiotics into consumers' daily routines, catering to the demands of modern, fast-paced lifestyles. Secondly, the segment offers a diverse array of products, ranging from probiotic-fortified yogurts and dairy drinks to functional kombuchas and enhanced water, thereby accommodating varied consumer preferences and dietary requirements. Furthermore, ongoing innovation within the functional food and beverage sector amplifies its dominance. Product developments such as probiotic-infused ice cream, chocolates for digestive health, functional gummies targeting specific health needs, and even probiotic beer tailored for health-conscious consumers signify the sector's adaptability and responsiveness to evolving consumer demands.

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Primary companies highlighted

• Probi (Sweden)
• Nestlé (Switzerland)
• ADM (US)
• Danone (France)
• International Flavors & Fragrances Inc. (US)
• Yakult Honsha Co., Ltd. (Japan)
• BioGaia (Sweden)
• MORINAGA MILK INDUSTRY CO., LTD. (Japan)
• Meiji Holdings Co., Ltd. (Japan)
• Lifeway Foods, Inc. (US)
• Adisseo (France)
• Winclove Probiotics (US)
• AB-Biotics, S.A. (Belgium)
• Apsen Farmacêutica (Brazil)
• Lallemand (Canada)

The cold chain market refers to the infrastructure and logistics involved in maintaining the integrity and freshness of perishable products, typically food and pharmaceuticals, throughout the supply chain. This process involves temperature-controlled storage, transportation, and distribution to ensure that products remain within specified temperature ranges from the point of origin to the point of consumption. The global cold chain market is on a trajectory of significant expansion, with an estimated value projected to reach USD 372.0 billion by 2029 from the 2024 valuation of USD 228.3 billion, displaying a promising Compound Annual Growth Rate (CAGR) of 10.3%. The cold chain refers to a series of temperature-controlled processes, facilities, and logistics used to ensure the integrity and quality of perishable goods throughout their journey from production to consumption. It encompasses refrigeration, freezing, and controlled atmosphere technologies to maintain specific temperature and humidity levels.

Key components of the cold chain market include refrigerated storage facilities, refrigerated transport vehicles (such as trucks, ships, and airplanes), temperature monitoring devices, and packaging materials designed to insulate and protect perishable goods.

The growth of the cold chain industry is driven by several factors:

1. Increasing demand for perishable goods: With changing consumer preferences and dietary habits, there is a growing demand for perishable products such as fresh fruits and vegetables, dairy products, seafood, meat, and pharmaceuticals that require temperature-controlled storage and transportation.
2. Globalization of supply chains: As supply chains become increasingly globalized, there is a need for efficient cold chain logistics to ensure that perishable products can be transported over long distances without compromising quality and safety.
3. Stringent food safety regulations: Governments and regulatory bodies around the world have implemented strict regulations governing the handling and transportation of perishable goods to ensure food safety and quality. Compliance with these regulations drives the adoption of cold chain solutions by food producers, distributors, and retailers.
4. Technological advancements: Advances in refrigeration technology, temperature monitoring systems, and packaging materials have improved the efficiency and reliability of cold chain logistics, reducing product losses and ensuring product quality throughout the supply chain.
5. Growing pharmaceutical industry: The pharmaceutical industry relies heavily on cold chain logistics to transport temperature-sensitive drugs and vaccines safely and effectively. With the increasing demand for healthcare products, especially biologics and vaccines, the pharmaceutical cold chain market is expected to witness significant growth.

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India is poised to witness the fastest growth within the Asia Pacific cold chain market during the forecast period.

India stands as a significant producer and consumer of dairy products, particularly milk and curd. With a burgeoning population and a cultural inclination towards dairy consumption, the demand for efficient cold chain logistics to maintain product integrity from farm to table is imperative. As per a May 2023 report from Slurrp, India boasts a significantly higher milk consumption rate compared to the global average, with nearly half of its population (48.1%) regularly consuming milk or curd. The increasing demand for dairy products in India can be linked to its fast urbanization and improving living standards. India's daily milk consumption stands at 427 g, well above the global average of 305 g.

Moreover, India's rapid industrialization has spurred the growth of various sectors, including pharmaceuticals, processed food, and agriculture. These industries heavily rely on cold chain solutions to preserve the quality and safety of their products. Additionally, the proliferation of Quick Service Restaurants (QSRs) and the changing dietary habits of the urban populace have fueled the demand for frozen and chilled food products. As per a report from the credit rating agency ICRA, the Indian Quick Service Restaurant (QSR) sector is projected to experience growth ranging between 20% to 25% during the fiscal year 2024.This surge in demand necessitates robust cold chain systems to ensure the seamless delivery of perishable goods, thereby propelling the expansion of the cold chain market in India.

Increasing international trade has significantly fueled the demand for the cold chain market at the highest CAGR.

With reduced trade barriers and interconnected supply chains, perishable goods like fruits, vegetables, and pharmaceuticals are transported across borders, necessitating temperature-controlled environments. In 2022, the USDA reported that the total export value of baked goods from the US amounted to USD 4.21 billion, with a volume of 1 million metric tons, reflecting a 1.7% compound annual growth rate from 2013 to 2022. Notably, there was substantial year-over-year growth compared to 2021, when the total export value was USD 3.73 billion. Canada led as the top market for US baked goods in 2022, with a value of USD 2.70 billion, followed by Mexico, Japan, South Korea, and the Philippines.Furthermore, in November 2023, NFUonline reported that the UK Government initiated the UK Dairy Export Programme, allocating USD 1.2 million to support farmers in enhancing the global export of British dairy products. This commitment, announced by the Prime Minister in May 2023, reflects the government's strong backing for the dairy sector. The programme aims to create new opportunities for businesses worldwide. Currently, the UK dairy industry exports goods worth over USD 2.47 billion annually to 135 countries, and this initiative is anticipated to bolster its global standing further. Such export-focused endeavors in the dairy sector have the potential to significantly influence the cold chain market.

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Social media play pivotal role in this phenomenon by facilitating the dissemination of information and trends. Influencers, bloggers, and online platforms showcase diverse cuisines, products, and lifestyles, sparking curiosity and demand in previously untapped markets. For instance, the promotion of use of butter and cheese in various cuisines through social media channels has sparked a newfound fascination in Asian countries, where traditionally these dairy products held less prominence. In 2022, China experienced a 7% increase in butter imports, driven mainly by increased demand from the bakery industry, according to the FAO. This cultural exchange fueled by digital platforms propels the demand for perishable goods, necessitating efficient cold chain logistics to ensure freshness and quality during transportation.

Market Opportunities: Intermodal transport to save fuel costs

Intermodal transport has emerged as a pivotal solution in the cold chain market due to its unparalleled ability to optimize fuel costs. Cold chain logistics demands a delicate balance between temperature control and efficiency. Intermodal transport achieves this balance by seamlessly integrating multiple modes of transportation, such as trucks, trains, and ships, to deliver goods to their destination. By strategically combining different transport modes based on their strengths and cost-effectiveness, companies can minimize fuel consumption. For instance, trains are substantially more fuel-efficient than trucks over long distances, while trucks offer flexibility and accessibility for last-mile delivery. By leveraging these strengths, businesses can significantly reduce their overall fuel expenditure, thereby enhancing cost-effectiveness in the cold chain market.

Moreover, intermodal transport fosters sustainability, a growing concern in modern supply chain management. By optimizing fuel usage, companies not only cut costs but also reduce their carbon footprint. This aligns with increasingly stringent environmental regulations and consumer preferences for eco-friendly practices.

Major players profiled

• Americold Logistics, Inc. (US)
• Lineage, Inc. (US)
• NICHIREI CORPORATION (Japan)
• Burris Logistics (US)
• A.P. Moller - Maersk (Denmark)
• United States Cold Storage (US)
• Tippmann Group (US)
• Coldman Logistics Pvt.Ltd. (India)
• CONGEBEC (Canada)
• CONESTOGA COLD STORAGE (Canada)
• NewCold (Netherlands)
• Seafrigo Group (France)
• Trenton Cold Storage (Canada)
• Blue Water Shipping (Denmark)