Research Reports And Consulting

 The global agricultural microbials market was estimated to be valued at USD 6.0 billion in 2020. It is projected to reach a value of USD 11.6 billion by 2025, growing at a CAGR of 14.1% during the forecast period. Factors such as rise in adoption of integrated pest management (IPM) practices across the globe and reduced development cost for microbials in comparison to conventional chemical pesticides target specificity associated with microbial pesticides and the rising trend of adopting organic farming practices.


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

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

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

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


The increasing demand for horticultural crops in the North American region is driving the growth of the market.

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

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Key Market Players

Key players in this market include BASF SE (Germany), Bayer CropScience (Germany), Sumitomo Chemicals Company Ltd. (Japan), Monsanto Company (US), Corteva (US), Syngenta AG (Switzerland), Certis USA LLC (US), and CHR. Hansen Holdings (Denmark). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. They show a strong presence in North America, Asia Pacific, and Europe, and have manufacturing facilities, along with strong distribution networks across these regions.

According to MarketsandMarkets, the global nut products market size is estimated to be valued at USD 1.5 billion in 2020 and is projected to reach USD 2.0 billion by 2025, recording a CAGR of 5.8%. The growing inclination of consumers towards plant-based and gluten-free products coupled with increasing health awareness is promoting the market. The product launches by key players belonging to key application sectors such as bakery and confectionery is also driving the growth of the market.

COVID-19 Analysis
The volatile market demand for nut-based end products belonging to categories, such as snacks, dairy, bakery, and confectionery during the pandemic has negatively affected the nut products supply chain. A decent growth projection is expected in the consumption dynamics of products containing nuts as a major ingredient. Supply chain actors in the nut products market are gearing themselves to cater to unexpected spikes after lukewarm demand for nuts and their value-added products. Disruptions in supply chain during the COVID-19 lockdown across countries were challenging for the market.

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Market Dynamics

Drivers: Rising health awareness led to evolving dietary patterns

The increasing consumer health awareness and the rising disposable income across regions are factors that have encouraged people to opt for high-quality nut products. The changing consumer preferences for convenience products with health and wellness claims have led to high demand for nut products. The increasing health concerns and awareness have led to an evolving consumption pattern. Nut-based derivatives, such as pastes and butter, are increasingly utilized in a plethora of baked confections, especially in European and North American markets.

Restraints: Availability and fluctuating costs for nuts as raw material

The raw material for nut products is agri-commodities that witness high uncertainties in their prices and availability. Exotic and uncommon nuts are harder to obtain, given their fluctuating yields. Ingredient manufacturers utilizing nuts as a raw material requires a carefully planned inventory management system in place, which is usually not the case, especially for small and medium-scale manufacturers. Hence, the process for converting nuts into value-added products, such as butter, pastes, and fillings, becomes cost-intensive, and this high cost trickles down to processed food & beverage manufacturers that is ultimately passed on to end-consumers.

Opportunities: Expanding application spectrum for nuts and derivatives

The robust growth and promising potential in plant-based dairy alternatives and meat analogs have opened up significant opportunities for nut product manufacturers. Key giants such as Olam International and Barry Callebaut have already intensified their efforts in catering to these attractive end-use avenues for gaining a cutting-edge advantage in the foreseeable future.

Nut-based butter, paste, fillings, and flour are increasingly utilized across applications, among which bakery and confectionery are the dominant ones. Nut flour and paste are also incorporated for the development of plant-based savory products. Almonds, hazelnuts, and walnuts are some of the key sources of raw materials, which are processed into semi-finished derivatives.

Challenges: Supply chain management intricacies and quality of nut products

One of the crucial challenges in the growth of the nut products market is the quality and safety issues as the product travels through different junctures in the supply chain. Lacunae on the part of handling, distribution, transportation, and intermediate storage can cause serious implications on the overall quality of nut products. Raw material suppliers, nut product manufacturers, distributors, and other supply chain stakeholders must work as a coherent whole to avoid any lapses, thereby ensuring end-use industries receive quality ingredients with a high degree of safety profile.

Europe is projected to dominate the global market by 2025

The European region is projected to record a higher growth rate during the forecast period. Consumers in this region are witnessing a high demand for natural and low-sugar ingredients, and food products, resulting in a surge in nut product consumption. The trend of using natural and trusted ingredients is reflected in the increasing use of ‘clean labels,’ with other health-related claims such as ‘gluten-free.

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Key Market Players:

Key players in this market include Olam International (Singapore), Barry Callebaut (Switzerland), Blue Diamond Growers (US), Zentis GmbH & Co. KG (Germany), Mount Franklin Foods (US), Kerry Group (Ireland), Mandelin, Inc (US), Bazzini (US), Besana (Italy), Lubeca (Denmark), and Puratos (Belgium). These major players in this market focus on increasing their presence through expansions, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities, along with strong distribution networks across these regions.

According to the new market research report "Agrochemicals Market by Pesticide Type (Herbicides, Insecticides, Fungicides), Fertilizer Type (Nitrogenous, Phosphatic, and Potassic), Crop Application (Cereals & Grains, Oilseeds, Fruits & Vegetables), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Agrochemicals Market is estimated to grow from USD 208.6 billion in 2020 and is projected to reach USD 246.1 billion by 2025, at a CAGR of 3.4% during the forecast period. Increasing demand for food supply due to the rapid growth in the human population has triggered agricultural intensification during the last few decades. For addressing the growing food demands, agrochemicals (fertilizers and diverse pesticides) are rigorously used in agriculture, which accomplishes the gap between food production and consumption.

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Herbicides, by type, is estimated to hold the largest market share during the forecast period

The market for agrochemicals, by pesticide type, has been segmented into insecticides, herbicides, fungicides and other. Herbicides accounted for the largest segment during the forecast period. This is attributed to the wide acceptance of herbicides in the cultivation of a variety of crops. They are convenient to use for crops such as sugarcane, rice, soybean, and cotton, among others. Rapidly advancing technology in the agricultural and allied sectors has also impacted conventional agricultural practices. It has made the use of external agents more efficient in terms of productivity. Using herbicides to eradicate weeds at an early stage helps increase the productivity and yield per unit, which has led to increased use by producers across the globe. Rising safety and environmental concerns have led to regulatory action in many countries, causing some restraints for the growth of the herbicides market. Major chemicals such as glyphosate and atrazine, among others, are regularly scrutinized, especially in Europe. However, considering the increasing use of herbicides, the market is very promising and is likely to expand.

Fruits and Vegetables, by crop application, is estimated to hold the largest share in the agrochemicals market during the forecast period

With an increase in the number of health-conscious people in the Asia Pacific region, there has been a significant increase in the consumption of fruits, thus causing the demand for fruits to rise. This has compelled the farmers to use various agrochemicals to meet the increasing demand. Furthermore, the high export potential of fruits & vegetables has also led to an increase in production levels. This has propelled the requirement of nitrogenous fertilizers products for efficient usage of agricultural inputs to meet export quality standards.

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Nitrogen fertilizer, by fertilizer type, is estimated to account for the largest market share during the forecast period

Farmers occasionally need to add nitrogen fertilizers to their farms and gardens to make available just the precise nutrients for their plants' growth. The nitrogenous fertilizer industry includes the production of synthetic ammonia, nitric acid, ammonium nitrate, and urea. Synthetic ammonia and nitric acid are used primarily as intermediates in the production of ammonium nitrate and urea fertilizers. The applications of inorganic nitrogen fertilizers to various crops have been continuously increasing since the last many decades globally. Although nitrogen fertilizer contributes substantially to yield enhancement, but excessive use of this manure has posed serious threats to the environment and human health.

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Asia Pacific is estimated to hold the largest market share during the forecast period

The Asia Pacific agrochemicals market is fragmented among multinational companies and numerous small-scale manufacturers who produce fertilizers and pesticides depending on the crops cultivated. There are more global players in the market that are trying to enter the Asia Pacific region by undertaking mergers & acquisitions or partnerships. The demand for fertilizers and pesticides has been growing in this region due to the increasing investment of overseas business lines in agricultural inputs to exclusively meet the demand of crop growers for attaining export quality.

Key Players:

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the agrochemicals market. It consists of the profiles of leading companies such as Bayer (Germany), BASF (Germany), Yara International (Norway), Compass Minerals (US), and Syngenta (Switzerland), Adama Ltd (Israel), Sumitomo Chemicals (Japan), Nufarm Limited (Australia), UPL (India), K+S Group (Germany), and Israel Chemical Company (Israel).

According to the new market research report "Agricultural Coatings Market by Category (Seed Coatings, Fertilizer Coatings, and Pesticide Coatings), Seed Coating Types (Polymers, Colorants, and Pellets), Fertilizer Coating Types, Pesticide Coating Applications, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the market size is estimated to be valued at USD 3.7 billion in 2021 and is expected to reach a value of USD.5.3 billion by 2026, growing at a CAGR of 7.3% in terms of value during the forecast period. Factors such as rising need to increase agricultural productivity and favorable government policies and regulations are some of the factors driving the growth of agricultural coatings.

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Seeds coatings, by category, is estimated to hold the largest market share during the forecast period

The market for agricultural coatings, by category, has been segmented into seed coatings, fertilizer coatings, pesticides coatings. Seed coating has been proposed as a promising tool for the inoculation of different crop seeds. The main types of seed coatings include seed dressing, film coating, and pelleting, which are used according to the purpose of application and the type of seed. Coating delivers the seed in a form that is larger, rounder, smoother, heavier, and more uniform as compared to the original seed. Materials such as pellets and colorants enable the grower to place the seed individually, with improved spacing and depth control. The use of seed coating also protects the seeds from cold soils and breaks down when the soil temperature is optimal for germination. These advantages have led to increased demand for seed coatings globally.

Polymers, by fertilizer coatings, is projected to grow at the second-highest CAGR in the agricultural coatings market during the forecast period

Polymers are the film coating formulations consisting of a thin, water-permeable polymer-based coating onto the seed or pellet. A thin layer of polymer smoothens the seed surface, helping in better flowability. It also influences water uptake of and adherence to chemical fungicide treatments. Film-coating increases the raw weight of the seed by 1% to 5%. The thin coating of polymer helps the additives stay on seeds and also to avoid dusting and pollution, to enhance the appearance of the seed. Leading agriculture universities have conducted the experiment of seed coating base polymer with different types of seeds for its compatibility under various circumstances. It was found that the seed germinated better with a significant increase in seed vigor, with the usage of a seed coating polymer. Super absorbent polymers and polymer gels are water-absorbing polymer materials with high water uptake potential. They improve the seed germination and also enhance the seedling growth, contributing to the farm's success. These advantages have led to increased demand for the polymers segment of the seed coatings market.

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307 – Tables
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The market for insecticides segment of pesticides coatings is projected to account for the largest share during the forecast period

The pesticide coatings market, by application, was dominated by insecticides. The research & development of pesticide coatings is mainly concentrated on insecticides, followed by herbicides. Due to this trend and the registration & commercialization of new varieties of microencapsulated insecticides, the insecticides segment is projected to grow at a high CAGR, and it occupies a large share in the market.

Insecticides are used to protect crops against the eggs and larvae of insects. Insecticides have various modes of action and can be classified into systemic, contact, and plant-incorporated. They are commonly used to maintain the quality of crop yield by protecting it from insects.

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Key Players:

This report includes a study on the marketing strategies and the product portfolios of the major companies that operate in the agricultural coatings market. The report has leading company profiles such as include BASF SE (Germany), Bayer AG (Germany), Clariant Technologies (Germany), Croda International Plc (UK), Sensient Technologies (US), Germains Seed Technology (UK), Milliken Chemical (US), Precision Laboratories (US), Pursell Agri-tech (US), Novochem Group (Netherlands), Dorfketal (India), Deltachem (Germany), Israel Chemicals Ltd (Israel), Arkema (France), SQM (Chile), Mosaic (US), Nutrien Ltd (Canada), Aakash Chemicals, Evonik Industries (Germany) and Encapsys LLC (US).

The market for food safety testing is estimated to be USD 19.5 billion in 2021; it is projected to grow at a CAGR of 7.9% to reach USD 28.6 billion by 2026. The growth in the food safety testing market is attributed to the worldwide increase in the number of outbreaks of foodborne illnesses, implementation of stringent food safety regulations, and globalization of food supply. Lack of coordination between market stakeholders and improper enforcement of regulatory laws & supporting infrastructure in developing countries act as restraints for the food safety testing market. The challenges faced by the market include a lack of harmonization of food safety standards and high costs associated with the procurement of food safety testing equipment.

COVID-19 Impact on the Global Food Safety Testing Market

The COVID-19 pandemic is projected to have a significant impact on the food market, as it has highlighted the significance of safe, healthy, and nutritive eating. Food security, food safety, and food sustainability are recognized as strongly affected dimensions of food systems during the Covid-19 pandemic. The use of e-commerce to order deliveries of groceries and restaurant meals has risen sharply. Restaurant operators with established drive-thru and pick-up operations have fared much better than those competitors without. Sharp shifts in consumer behavior related to the food they consume were observed, with a higher preference for safety and quality. These have further propelled the manufacturers to assess the safety parameters of their food products to be able to sustain their product values in the market.

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Foodservice buyers worldwide have been affected tremendously by foodborne illnesses among consumers, and this has directed their attention toward obtaining certification of food safety assurance. Food manufacturers are willing to pay for testing and certification and have included this practice in their manufacturing cycles. Food companies, major retailers, and importers have been undertaking food safety testing to reduce the occurrence of foodborne diseases and legal conflicts as well. Food safety assurance has become important for food companies to comply with the global standards of food processing and labeling and meet the consumer demand for food safety.

Food safety testing is conducted at critical levels of production and works as an essential step in certifying the quality and safety of food items served to customers. In the US, food recalls occur frequently. As a result, food production, food service, and food retail companies, together with government regulators, have increased efforts to ensure food safety, leading to the growth of the food safety testing market.

Europe is estimated to be the largest market.

The market in this region is primarily driven by growth in the German and UK markets. It is also driven by European food policies that have been extensively emphasized by the National Reference Laboratories (NRLs) and the European Reference Laboratories (EURLs) to maintain food standards and protect consumer health. The market is further fueled by the presence of major food safety testing companies such as SGS SA (Switzerland), Eurofins Scientific (Luxembourg), and Intertek Group plc (UK), which are continuously investing and collaborating for the development of better and faster testing technologies to aid conformity to various food safety regulations.

The food safety testing market is dominated by few globally established players such as SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas (France), ALS Limited (Australia) and TÜV SÜD (Germany). These players have adopted growth strategies such as acquisition and agreements to increase their presence in the global market.

SGS SA primarily offers inspection, verification, testing, certification, and quality assurance services. The company has nine business segments—consumer & retail; agriculture food & life; oil, gas & chemical; minerals; industrial; government & institution; transportation; certification & business enhancement; and environmental health & safety. It offers food safety testing through its agriculture food & life segment. The company operates through a network of more than 2,400 offices and laboratories across Europe, the Middle East, the Americas, Africa, and the Asia Pacific. With its strong presence, the company has established a strong market share and is identified as a strong player in the global food testing market. Its subsidiaries include SGS North America Inc. (US), SGS Germany GmbH (Germany), SGS India Private Ltd (India), and SGS United Kingdom Limited (UK). Major competitors of the company include Eurofins (Luxembourg), Intertek (UK), and Bureau Veritas (France), among others.

Eurofins is an international group of laboratories that provide testing and support services to the pharmaceutical, food, environmental, agricultural, and consumer products industries and governments. The company capitalizes on a portfolio of 150,000 reliable analytical methods that enable it to offer services that characterize the safety, identity, purity, composition, authenticity, and origin of products & biological substances. It offers testing services through the following 13 divisions—food & feed testing, biopharma services, agroscience services, agro testing, clinical diagnostics, cosmetics testing, consumer product testing, forensic services, environmental testing, genomic services, medical devices, Eurofins technologies, and REACH services. It offers food testing services under its food & feed testing division.

Food Safety Testing Market Dynamics

Driver: Increase in global outbreaks of foodborne illnesses

Incidences of foodborne illnesses occur primarily due to the consumption of food contaminated with a mycotoxin, pathogens, or the growth of yeasts and molds. The presence of pathogens such as Salmonella, Campylobacter, E. coli, and Listeria could compromise the microbiological safety of food, thereby resulting in foodborne illnesses. Furthermore, in the UK, around 1 million people suffer from foodborne illness, and nearly 20,000 people receive medical treatment for foodborne illnesses every year. Additionally, around 500 death cases have been reported due to food poisoning each year, costing close to USD 2.0 billion. Thus the market for food safety testing is steadily growing.

Restraint: Complexity in testing techniques

Existing technologies for food authenticity testing involve various difficulties in providing valid test results. Many chemical tests are unable to detect and quantify unknown adulterations. Other screening methods available in the laboratories are reported to have shortcomings in detecting and quantifying unknown adulterants. Thus many market players are investing into R&D inorder to develop more efficient and effective technologies.

Opportunity: Technological advancements in the testing industry

The focus on reducing lead time, sample utilization, cost of testing, and drawbacks associated with several technologies have resulted in technological innovation and the development of new technologies in spectrometry and chromatography. Wide-scale adoption of these technologies is an opportunity for medium- and small-scale laboratories to expand their service offerings and compete with large market players in the industry, as these technologies offer higher sensitivity, accuracy in results, reliability, multi-contaminant and non-targeted screening with low turnaround time, among other benefits.

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Challenge: Lack of harmonization of food safety standards

Neither ingredient suppliers nor retailers or food service companies are well served when duplicative standards and audits raise total costs for food certification without enhancing or ensuring the overall safety of food. Industrial experts have often suggested uniform and harmonized food safety standards to reduce the multiplicity of food laws for better efficiency. To eliminate the duplication and overlap among the multiple standards, government and private-sector stakeholders should work together to create transparent and uniform food certification standards.

The food traceability market size is estimated to be valued at USD 16.8 billion in 2020 and projected to reach USD 26.1 billion by 2025, recording a CAGR of 9.1%. The growing demand for safe to consume products among the consumers is expected to drive the market. The Asia pacific segment is poised to dominate the market due to its high population demanding safe and secure food, it is projected to be the fastest-growing as well, owing to the larger demand of safety concern due to recent COVID outbreak in China.

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The food manufacturing technology application segment is projected to witness significant growth during the forecast period.

Food traceability software not only proves to be beneficial for end-use consumers but also to all the stakeholders along the food supply chain right from the growers to the end product distributors. The most well-known collaboration project about traceability so far is between Walmart and IBM. A surge and shift in consumer demand from the foodservice channel to retail channels are driven by the increase in at-home usage due to COVID-19 sheltering-in-place precautions. These are estimated to result in some consumer packaged goods manufacturers that are witnessing a corresponding increase in volume, revenue, and profits.

Countries such as India and China are dominating the market in the region.

In India, the FSSAI operates to safeguard the quality of food consumed and exported across the world. It regulates, frames, and supervises the supply chain of food safety and quality testing. It manages the food laws and has simplified the process of food safety and quality testing so that these can be easily implemented. In India, food safety is a collective effort taken by expert bodies such as the MPEDA, Spices Board, Agricultural and Processed Food Products Export Development Authority (APEDA), and EIA.

Food safety assurance systems in China are still at an early stage of development, but significant steps have been taken to improve the safety and quality standards of food. Food safety regulations in China have continued to develop to control food contamination incidences and to improve food quality, safety, and hygiene practices adopted at the manufacturing and subsequent stages in the food supply chain. This is projected to have a positive impact on the growth of the food traceability market.

The increase in the developed economy and per capita income has enabled the consumers to invest in more health and health related services, in South American region. This is one of the major drivers for food traceability in the region. Apart from that, the millennial consumers are more health conscious and aware, this is also thriving the market in the region.

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Leading companies are C.H. Robinson (US), Bio-Rad Laboratories, Inc. (US), OPTEL GROUP (Canada), OPTEL GROUP (Canada), Cognex (US), Honeywell International Inc. (US), SGS SA (Switzerland), Zebra Technologies (US), Bar Code Integrators (US), Carlisle (US), Merit-Trax (Canada), FoodLogiq (US), Safe Traces (US), Food Forensics (UK), Bext360 (US), rfxcel (US), Covectra (US), SMAG (France), SMAG (France), TE-Food (Germany), Mass Group (US), Source Trace (US), Trace One (US), Crest Solutions (Ireland), Traceall Global (UK), and VeeMee (Croatia).

According to the new market research report "Plant Factory Market by Growing System (Soil-based, Non-soil-based, and Hybrid), Facility Type (Greenhouses, Indoor Farms, Other Facility Types), Light Type, Crop Type (Vegetables, Fruits, Flowers & Ornamentals), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Plant Factory Market size is estimated to be valued at USD 121.8 billion in 2021 and projected to reach USD 172.5 billion by 2026, recording a CAGR of 7.2% during the forecast period.


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Plant factories have evolved considerably and are equipped with technologies for climate control, supplemental lighting, irrigation control, and material handling, among others. These control systems regulate internal conditions such as temperature, humidity levels, light intensity, and communication technologies for remotely monitoring the plant factory parameters. Since the early 1980s, this industry began to gain importance among growers, majorly due to the unmatched yield obtained from this technology. The recent advances in urban farming and the emergence of vertical farming technology have further fueled the growth of this market.


The vegetables segment, by crop type, is projected to witness significant growth during the forecast period.


Vegetables that can be grown in plant factories include tomatoes, squash, broccoli, artichoke, beans, and peas. A few other vegetables are leafy greens, including spinach, kale, and arugula, and high-producing crops, such as lettuce and cucumber. Vegetables have a relatively short harvest time compared to fruits, which can be further reduced through cultivation in a plant factory. Apart from tomatoes and leafy greens, plant factories are also being adopted for cucumbers and pepper production in recent years. The growth potential for these crops is expected to be high.

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The European region dominates the plant factory market with the largest share in 2021.


Europe has traditionally been at the forefront of implementing advanced techniques in smart greenhouse horticulture. Countries such as the Netherlands, Spain, and France have large areas under greenhouse cultivation. Advancement in greenhouse farming has supported the growth of plant factories in Europe.


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Key Players:


This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, AeroFarms (US), BrightFarms (US), Gotham Greens (US), Bowery Farming (US), AppHarvest (US), Plenty Unlimited Inc. (US), Mirai Co. Ltd. (Japan), Kalera (Norway), and Farminova (Turkey).

According to the new market research report "Seaweed Protein Market by Source (Red, Brown, Green), Extraction Process (Conventional Method, Current Method), Application (Food, Animal Feed & Additives, Personal Care & Cosmetics), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the market size is estimated to be valued at USD 465.5 million in 2020. It is projected to reach USD 981.6 million by 2026 recording a CAGR of 13.2% during the forecast period. The shift towards more nutritional food options have increased the demand for seaweed derived food products across the globe. Seaweeds or macroalgae are a rich source of protein and contain all sources of essential amino acids at various concentrations. They act as a suitable alternative for vegan consumers and for those who are allergic to dairy whey protein and eggs. The protein content in some seaweed are similar to those of traditional protein sources such as egg, meat, milk, and soybean. The yield of protein is higher from seaweeds when compared to terrestrial crops, such as wheat, soybean, and pulse legumes.

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The red seaweed segment, by source is projected to account for the largest share, during the forecast period.

Red seaweeds have almost 47% weight of dry matter. In this regard, the crude protein content of genera Pyropia (dulse) and Porphyra (nori) is comparable with that of high protein plant foods such as soy. The most significant species of red seaweeds that contain higher protein levels are Porphyra (47% of dry mass), and Palmaria palmata (35% of dry mass). Porphyra tenera and Palmaria palmata are among the highest consumed species of seaweed in Asia, as well as Western countries, due to their high protein content and their delectable flavour.

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The food segment, by application is projected to account for a major share in the market during the forecast period

Although the consumption of seaweed in humans is currently in developing stage, especially in Western countries, the high protein content and favorable essential amino acid profile make seaweed a promising source of protein that has huge potential in the coming future. Seaweed has been successfully incorporated as a functional ingredient into several foods at the laboratory scale.

The conventional method segment is projected to account for a major share in the market during the forecast period

Conventional methods of seaweed protein extraction include physical processes, enzymatic hydrolysis, and chemical extraction methods. While physical methods include aqueous treatment, and osmotic stress; enzymatic hydrolysis includes disrupting the algal cell wall and then combining multiple extraction methods to obtain the protein content.

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The Asia pacific region is projected to account for a major share in the market during the forecast period

The largest market share of Asia Pacific is attributed to the expansion of the seaweed industry in Asian countries such as China, Indonesia, South Korea, and the Philippines, owing to factors such as raw material availability, favorable climatic conditions for the production of seaweeds, and availability of cheap labor.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading seaweed protein manufacturing companies. It consists of profiles of leading companies, such as CP Kelco U.S., Inc. (US), Algaia (France), Gelymar (South Africa), Seasol (South Africa), Compo Expert GmBH (Germany), Qingdao Gather Great Ocean Algae Industry Group (China), and Qingdao Seawin Biotech Group Co. Ltd. (China).

 According to the new market research report “Indoor Farming Technology Market by Growing System (Hydroponics, Aeroponics, Aquaponics, Soil-based, Hybrid), Facility Type, Component, Crop Type (Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals), and Region – Global Forecast to 2026″, published by MarketsandMarkets™, the market size is estimated to account for a value of USD 14.5 billion in 2020 and is projected to grow at a CAGR 9.4% from 2020, to reach a value of USD 24.8 billion by 2026. Factors such as the higher yield as compared to conventional agriculture practices, controlled environment farming, and improved yield and higher produce with limited land resources, are some of the key factors driving the growth of the indoor farming technology market during the forecast period.


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COVID-19 Impact on the Global Indoor Farming Technology Market

Amid the spread of COVID-19 pandemic, many individuals have developed a critical point of view towards outdoor food. With health and food safety becoming the key focus, the populations around the globe have showed an inclination towards home cooking and self-made/homemade meals. This has put the food and hotel industry into jeopardy. After the devastating outbreak of coronavirus pandemic, the adoption rate of urban indoor farming systems around the world are estimated to rise sharply. The agriculture industry faced challenges during the initial phases of the spread of the pandemic. There were huge labour shortages on the farm, some farmers missed their window of opportunity for harvesting for seasonal crops, the falling prices of agricultural products and the disruption of logistics. Many countries also realized their over dependence on imports of food materials and hence began emphasizing on internal and domestic productions.


Indoor Farming Technology Market Dynamics

Driver: Need for higher yields using limited space and water.
One of the main advantages of indoor farming is its higher yield compared to conventional farming methods. Enclosed facilities used in indoor farming create optimum growing conditions for farmers to grow a crop from seed to the harvesting stages in lesser time and obtain higher yields in each cycle with limited land area. According to USDA data, in 2016, the average yield of tomatoes grown in greenhouse hydroponics was 10.59 pounds per square foot, and that of traditionally grown tomatoes was 1.85 pounds per square foot. Therefore, indoor farms can increase the overall crop yield by stacking additional layers and increasing the growing area.


Indoor farming addresses the concern of limited space, as certain plants can be grown in smaller areas. For instance, in vertical farming, every facility developed reduces the need for utilizing land by a hundred-fold. The level of water wastage is less when compared to conventional farming. Indoor farms recirculate and reuse the water; an average of 95% less water is required to grow the same crops as compared to outdoor farming. When plants or crops are grown in vertical greenhouses, the transpiration process occurs, which makes it feasible for farmers to reuse the water for irrigation purposes. The chances of water wastage become minimal, and therefore, this method is helpful in resource conservation.


Restraint: High initial investments

The initial cost of the indoor farming setup is more compared to the investment required in traditional farming. One of the main factors responsible for the high investment is the cost of urban land, which is higher than that of farmland. Furthermore, energy accounts for a higher percentage of operating costs for both vertical farms and greenhouses. For instance, in vertical farming operations, lights run for 16 hours per day, while in greenhouses, light is applied to plants for 9 hours per day in winter.


Powering up a farmscraper for lights and controlling ambient temperatures involve high costs and are labor-intensive. Controlling the environment within buildings with regard to lighting, temperature, pollination, and the arrangement of plants is important for an ideal indoor farm. Farmers are required to make a high initial investment for the devices and equipment used for indoor farming. This is one of the major restraints for the indoor farming technology market.


Opportunity: Development of innovative and cost-effective technologies
Many technologies used in indoor farming do not have a long commercially proven record, and studies are still being conducted to ascertain the impact of these technologies on the shelf life of plants. Through research conducted at the Lighting Research Center (New York), the impact of LED lighting on plants was studied, and it showed positive results. However, the technology is in the introductory stage and requires improvements to become optimally beneficial and commercially viable.


New technologies need to be developed to decrease the carbon footprint in indoor farming. Growers are more interested in investing in technologies that would lower their costs invested in labor, as they are required on large-scale farms for monitoring, maintaining, supplying the nutrients, and harvesting. Hence, in the future, there is an opportunity to develop fully automated urban farms based on vertical farming and controlled environment agriculture.


Challenge: Lack of adequate funding


In many agriculture-related businesses, finding an investor is very difficult, and this might act as a challenge, thereby leading to fewer growers investing in indoor farming. Furthermore, limited funding slows down the pace of R&D for indoor farming in public institutions and universities, which, in turn, limits the availability of data and information, which would otherwise encourage cultivators to invest.


In the recent scenario, however, there are some sources of high funding available for players in the indoor farming technology market space. For instance, Aerofarms (US), one of the indoor farming players, raised USD 50 million from Goldman Sachs Group (US) and Prudential Financial, Inc. (US).


The increasing adoption of hydroponics and vertical farming systems in the Asia Pacific countries, drive the regions growth rate at a higher pace.
The Asia Pacific region is projected to grow at the highest rate, as the demand for indoor farming technology has been growing in this region due to the increasing investment of overseas business lines in agricultural operations to exclusively meet the demands of the crop growers to attain export-quality crops. In addition, the farming industry in the Asia Pacific region has been shifting toward technological and innovative methods from a conventional agricultural practice system. These shifts lead to the modernization of crop management techniques to gain better premium value for the crops. There are numerous indoor farms in China, Japan, Singapore, Taiwan, and other such technologically advanced countries. China is estimated to account for the largest share in the Asia Pacific indoor farming technology market due to the increasing investments from several multinational manufacturers in R&D and the adoption of greenhouse farming for the production of certain crops. The restraining factor in the Asia Pacific market is the high initial cost required to set up these systems.


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Key Market Players

Key players in this market include include major players such as Signify Holding (Netherlands), Everlight Electronics (China), Argus Control Systems (Canada), LumiGrow (US), Netafim (Israel), Logiqs (Netherlands), Illumitex (US), Hydrodynamics International (US), American Hydroponics (US), Richel Group (France), Vertical Farm Systems (Australia), General Hydroponics (US), Agrilution (Germany), Heliospectra AB (Sweden), Scotts Miracle Gro (US), Hydroponics System International (Spain), Advanced Nutrients (US), Emerald Harvest (US), VitaLink (UK), and Grobo (US). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

The mushroom cultivation market is estimated at USD 16.7 billion in 2020 and is projected to reach USD 20.4 billion by 2025, at a CAGR of 4.0% during the forecast period. Multiple health benefits associated with mushroom is one of the key factors expected to boost demand for mushroom cultivation in the years to come. The rise in the number of consumers adopting flexitarian and vegetarian diets both in developed and developing countries has further increased the demand for mushroom as a meat alternative.In developing countries, mushroom cultivation is gaining widespread interest among growers since it requires less labor, is low-cost, and provide income throughout the year. The availability of abundant agricultural waste in developing countries such as India and Brazil is expected to create a lucrative opportunity for mushroom cultivation in these countries since agricultural wastes act as a substrate for mushroom cultivation.

Based on the type, button mushroom accounts for the largest share in the mushroom cultivation market. Button mushroom is the most popularly grown and consumed mushroom type at a global level. Button mushroom is widely preferred among consumers in the US. In 2016, the country produced 943 million pounds of mushroom, most popular being button mushrooms. Growing health concerns have urged consumers to opt for nutrition-rich food products. Multiple health benefits associated with mushrooms coupled with increased demand for meat alternatives is expected to boost demand for mushrooms and thus increase the demand for mushroom cultivation in the coming years.

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Asia Pacific was the largest market for mushroom cultivation in 2019, followed by Europe. The region is backed by China, which is among the largest producer and consumer of mushroom at a global level, making it a key destination for mushroom cultivation companies in the region. Apart from this, countries such as India, Japan, and Iran are expected to be key revenue generators. Iran ranks 6th at a global level interns of mushroom cultivation at a global level with a production volume of 150,000 tons in 2018-2019. Lucrative opportunity lie ahead in India owing to wide availability of agriculture waste in the country. This agriculture waste serves as a substrate for mushroom cultivation. Thus, Asia Pacific is expected to create a lucrative opportunity for mushroom cultivators in the years to come.

Mushroom cultivators are focusing on expanding their consumer base in the market. Leading players operating in the mushroom cultivation market include Monaghan Mushrooms (Ireland), Walsh Mushrooms Group (Ireland), Mycelia (Belgium), South Mill Mushrooms Sales (US), Smithy Mushrooms Ltd. (UK), Rheinische Pilz Zentrale GmbH (Germany), Italspwan (Italy), Mushroom SAS (Italy) Hirano Mushroom LLC (Kosovo), Fujishukin Co. Ltd. (Japan), Societa Agricola Porretta (Italy), Gourmet Mushrooms, Inc. (US), Fresh Mushroom Europe (Belgium), Commercial Mushroom Producers (Ireland), Lambert Spawn (US), F.H.U Julita Kucewicz (Poland), Polar Shiitake Oy (Finland), Heereco BV (Netherlands), Bluff City Fungi (US), and Mycoterra Farm (US).

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The Specialty Enzymes Market is estimated to be valued at USD 4.4 billion in 2019 and is projected to reach USD 6.6 billion by 2025, recording a CAGR of 6.9% in terms of value. The growing concerns about the enzyme quality in pharmaceuticals & diagnostics and rise in demand for non-harmful biological catalysts are factors that are projected to drive the growth of the specialty enzymes market, globally.

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Based on source, the specialty enzymes market is segmented into microorganism, plant, and animal. The microorganism segment is projected to witness the highest growth during the forecast period, as enzymes obtained from microbial sources lead to low production costs. Furthermore, they contain more predictable and controllable enzyme content. In addition, as enzymes obtained from microbial sources can be cultured in large quantities in a short period, microorganisms are the primary source of specialty enzymes.

By type, the specialty enzymes market is segmented into carbohydrases, proteases, lipases, polymerases & nucleases, and other enzymes (such as catalases, laccases, oxidases, phosphatases, kinases, esterases, and pectinases). Polymerases & nucleases have been bolstering the biotechnological advancements for research & developments in the various industries. They have been used for molecular cloning to manipulate nucleic acids to generate advanced enzymes available today for commercial uses.

The specialty enzymes market in North America is dominating due to the increasing demand for enzymes in specialty applications. Technological innovations in machinery, optimization of production, logistics, and globalization of business have made the pharmaceutical industry one of the essential sectors in the North America region.

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Leading companies are BASF (Germany), Novozymes (Denmark), Roche Holding (Switzerland), DuPont (US), Codexis (US), Dyadic International (US), Advanced Enzymes (India), Amano Enzymes (Japan), Sanofi (France), Biocatalysts (UK), Enzyme Supplies (UK), BBI Solutions (UK), Specialty Enzymes & Probiotics (US), Amicogen (South Korea), Antozyme Biotech (India), Enzyme Development Corporation (US), Nagase & Co. Ltd. (Japan), Sekisui Diagnostics (US), Merck (Germany), and Biovet (Bulgaria).

According to the new market research report "Dairy Alternatives Market by Source (Soy, Almond, Coconut, Oats, Rice, Hemp), Application (Milk, Yogurt, Ice creams, Cheese, Creamers), Distribution Channel (Supermarkets, Health Food Stores, Pharmacies), Formulation, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Dairy Alternatives Market size is estimated to be valued at USD 22.6 billion in 2020. It is projected to reach USD 40.6 billion by 2026, recording a CAGR of 10.3% in terms of value. The increasing demand for lactose-free food and beverage products is driving the global dairy alternatives market.


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Market Dynamics

Drivers: Rise in cases of lactose intolerance and milk allergies

The increasing number of lactose-intolerant and dairy-allergic consumers have accelerated the growth of the dairy alternatives market. Lactose is the major carbohydrate in milk and other dairy foods such as ice cream, cheese, and yogurt. The symptoms of lactose intolerance among individuals include abdominal pain, diarrhea, nausea, gut distension, flatulence, and constipation. The increasing number of these allergies promotes the consumption of dairy alternatives as consumers are more aware of healthy eating habits. Consequently, the demand for a variety of dairy alternatives such as plant-based non-dairy products such as milk, ice creams, creamers, and cheese, among others, is gaining importance among these consumers. According to the American Gastroenterological Association, cow’s milk is a major cause of food allergies among infants and children. The increasing number of lactose-intolerant and dairy-allergic consumers have accelerated the growth of the dairy alternatives market. The rising awareness about healthy eating habits influences consumers. Several infants and adults suffer from milk allergies that result in an adverse immune reaction after ingestion of animal milk. The increasing number of these allergies promotes the consumption of dairy alternatives. The demand for a variety of dairy alternatives such as rice milk, soy milk, and oat milk is increasing.


Restraints: Allergies associated with plant-based sources, such as soy and almonds


One of the major factors restraining the growth of the dairy alternatives market is allergies associated with the plant-based sources used to manufacture dairy alternative products. Although soybeans are rich in nutrient content, the presence of anti-nutritional components in soy could cause allergies. A soy allergy occurs when the human immune system mistakes the harmless proteins found in soy as harmful and produces antibodies to combat them. Similarly, tree nuts such as almonds are one of the ingredients that cause allergies. Owing to this, these individuals have to avoid almond-based products such as almond milk and other non-dairy products made from almonds. The price of dairy alternatives, on the other hand, depends on the supply of raw materials, which is why there are price fluctuations. Oat milk and several other dairy alternatives face the problem of raw material unavailability, because of which prices increase. This price volatility stands as one of the biggest limitations for growth in dairy alternative beverage sales.


Opportunities: Rising demand for organic food & beverages

Organic food & beverages have the potential to change the business landscape in the overall dairy alternatives market. Changing consumer preferences have been oriented toward healthy food & beverages; this is attributed to a rise in awareness about the functional health benefits in the consumption of organic food products. Clean-label food & beverages have been attracting consumers globally, resulting in a rise in demand for organic ingredients. Developing countries such as China and India are projected to witness a strong surge in demand from the supply side for organic food ingredients during the forecast period.


The demand for dairy alternative food & beverage products is high in the developed markets of the US and Canada. Consumer preference for vegan products is rapidly rising as marketing campaigns are planned to highlight their use and health benefit claims. Developing countries such as China and Australia are expected to experience a sharp upsurge in demand for dairy alternatives in the future. This demand may be driven by an increase in consumer preference for vegan diets.


Challenges: Volatile prices of raw materials

Though most dairy alternatives are similar to dairy milk in terms of texture and taste, the price of dairy milk is relatively low than that of its alternatives. The price of dairy alternatives depends on the supply of raw materials; owing to this, there are price fluctuations. Oat milk and several other dairy alternatives face the problem of raw material unavailability, because of which prices increase. This price volatility stands as one of the biggest limitations for growth in dairy alternative product sales.


Rising deforestation in developing countries results in the scarcity of raw materials for dairy alternatives such as soy, almond, and rice. Further, extremely cold climatic conditions in countries such as the UK, France, and Spain hamper the production of agricultural produce. Soy milk is produced from whole soybeans or full-fat soy flour; almond milk is made from ground almonds that are free from lactose and cholesterol; oat milk is lactose-free milk obtained naturally from oats, other grains, and beans. The unavailability of these agricultural raw materials restricts the production of alternative dairy beverages by European manufacturers.


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

The global dairy alternatives market is dominated by the Asia Pacific region due to the changing lifestyles of consumers and the increase in consumption of clean label products. Consumers are also more aware of their health and wellness, which is further fueling the demand for dairy alternatives in the region.


The Asia Pacific dairy alternatives market is also driven by large economies such as China, Japan, and Australia. The overall investment in the region has increased substantially over the past few years, especially in China. Japan, Australia, China, and India are the major countries covered for study in this report. Some key market players in this region are Sanitarium Health & Wellbeing Company (Australia), Freedom Foods Group Ltd. (Australia), Vitasoy International Holdings Limited (Hong Kong), and Pureharvest (Australia). The dairy alternatives industry in the Asia Pacific region is growing, owing to the changing lifestyles of customers. The dairy alternatives market in this region is currently undergoing a dramatic transformation in response to rapid urbanization, diet diversification, and the liberalization of foreign direct investment in the food sector.


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Key Market Players:

The Hain Celestial (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium Health and Wellbeing Company (Australia), Danone (France), Freedom Foods Group (Australia), Earth’s Own Food Company (Canada), Triballat Noyal (France), Valsoia S.p.A (Italy), Panos Brands (US), Melt Organic (US), Oatly (Sweden), Living Harvest Foods (US), Ripple Foods (US), Kite Hill (US), Califia Farms (US), Hudson River Foods Inc. (US), Daiya Foods Inc. (Canada), Pureharvest (Australia), Yoconut Dairy Free (US), and Yumbutter (US).