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Refrigerated Transport Market to See Major Growth by 2025

According to MarketsandMarkets, the refrigerated transport market is estimated to be valued at USD 15.5 billion in 2019 and is projected to reach USD 21.6 billion by 2025, recording a CAGR of 5.8% from 2019 to 2025. The growing demand for frozen food due to the increasing urbanization and changing lifestyle are factors projected to drive the market for refrigerated transport.

Refrigerated transport services are gaining importance in the food industry due to the increasing demand for processed foods at a global level. The frozen and chilled food segments are projected to be the key revenue pockets for the refrigerated transport market in the near future. Developing countries such as India and Brazil are projected to create lucrative opportunities for frozen and chilled food manufacturers and service providers of refrigerated transport in the coming years.

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Service providers are looking for new strategies to select transport modes with a view to cutting costs and increasing supply chain efficiency. Currently, intermodal transport is increasingly used in the food & beverage industry. Intermodal transport relies primarily on rail shipments and transports perishable commodities using multiple modes of transportation (trucks, ship, and air). Reefer containers are also utilized in intermodal transport. Service providers take advantage of the attributes of both trucks and rail shipping. Refrigerated railroad cars save considerable fuel and carry high volumes of perishable commodities than cargos over long distances. Refrigerated trucks, vans, and trailers transport delivers between rail terminals and the final delivery point. Intermodal rail shipments can reduce highway congestion and emissions. Their ability to control costs is a primary driver, which will benefit service providers and end users. A single rail shipment also conserves approximately 100,000 gallons of diesel fuel, and according to EPA estimates, it reduces CO2 emissions by 85,000 metric tons a year.

Therefore, service providers are considering the adoption of this mode of transport for cost reduction, improvement in efficiency, and reduction of environmental impact.

Multi-temperature trucks store different products at different temperatures using multiple-refrigeration systems. These trucks and trailers are segmented into flexibly sized compartments using curtain-like structures called skinny buns. Multi-temperature compartments are similar to single-temperature compartments and use control and monitoring systems that assess the temperature of the refrigerated environment at regular intervals. Retailers using single temperature trailers have to list multiple trucks to deliver shipments. However, multi-temperature trucks combine these shipments in one load. They increase the capacity by up to 60%, depending on the design and materials used. The use of multi-temperature refrigerated trucks reduces emissions and is economical. These trucks witness significant demand, particularly in developed countries.

The Asia Pacific refrigerated transport market is projected to witness a higher growth potential in the coming years. Frozen and chilled food products provide the option of convenience, along with maintaining nutrition and are increasingly preferred among consumers in the emerging economies of Asia Pacific, due to the rapid urbanization and increased spending capacities. For instance, in 2019, a survey conducted by ASSOCHAM (The Associated Chambers of Commerce and Industry of India) stated that the packaged food market in India is expected to reach USD 72.6 billion by 2020 from USD 31.7 billion in 2015. This growth is attributed to a surge in the consumption of frozen foods, dairy products, ready-to-cook/ready-to-eat foods, and bakery products, which in turn, creates the demand for refrigerated transport for convenient and efficient transportation of such products.

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Key players (food & beverage) in refrigerated container market include General Mills (US), Conagra Foods (US), Kraft Heinz Company (US), Nestle (Switzerland), Associated British Foods (UK), Kerry Group (Ireland), Unilever (UK), Mccain Foods Limited (Canada), Samworth Brothers Limited (UK), and Iceland Foods Ltd. (UK). These players have opted for different organic and inorganic strategies to increase their market share. Nestle, one of the major players in the market, adopted a well-established distribution strategy, which made it possible to deliver products in both the urban and rural markets. It adopted various strategies such as acquisitions, expansions & investments, new product launches, and agreements in the frozen and chilled foods segment, which increased the usage of refrigerated transportation. In addition, with the increasing preference for on-the-go food products, the demand for chilled and frozen food is projected to increase, which in turn, helps the company increase its sales.

Upcoming Growth Trends in the Insect Protein Market

The insect protein market is estimated to be valued at USD 144 million in 2019 and is projected to reach USD 1,336 million by 2025, recording a CAGR of 45.0% during the forecast period. The increasing need for protein as nutrition and increasing investments in research & development are some of the factors driving the growth of the insect protein market.

Insect protein is a high-quality protein that is extracted from various types of insects and used in various application such as food, feed, and pharmaceuticals & cosmetics. The nutritional benefits of insect protein, in comparison with animal-based and plant-based protein, is responsible for the wide adoption of insect protein in the North American and European markets. An evidence to this assertion would be the use of crickets in food application due to their high protein, and the experimentation around the application of varied insects or major feed application. Moreover, the declining production of fishmeal, its fluctuating prices, and the pressure on food security have led to an increasing need for a protein substitute, which is fulfilled by these insects. These factors are projected to drive market growth during the forecast period.

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Insect protein has gained traction from various firms in the past five years. Multiple capital investors have been willing to invest in emerging insect protein manufacturers. This is due to the rising awareness about the benefits of insect protein and also the necessity to develop alternative sources of protein to meet the rising global demand. Companies such as Cargill (US) and PepsiCo (US) are directing their investment toward this market, which has raised the credibility of insect protein products. In 2019, Cargill (US) and InnovaFeed (France) entered into a strategic partnership to bring sustainable and innovative feed options to the animal nutrition industry. Through the partnership, Cargill (US) and InnovaFeed (France) would collaborate to market fish feed jointly, which includes insect protein. The partnership would also enable both the partners to support the growth of sustainable aquaculture. Established companies have also been investing in start-ups to provide them monetary support for research & development, expansion of their production facilities, and marketing strategies related to brand awareness. In 2017, PepsiCo (US) entered the insect protein market through an investment in a start-up company called Jimini's (UK), a producer of insect-based food products in Europe.

Government initiatives and support encourage companies to invest in insect farming or insect protein-based products and encourage people to include insects in their diets. For instance, in July 2015, the USDA funded a project that focused on insect farming for human food, concentrating on improving the efficiency and lowering costs in farming crickets. The project was led by a Georgia-based company, All Things Bugs LLC, which studied methods to increase automation in raising crickets. The project particularly focused on harvesting, watering, and feed formulations, with end goals to enhance cricket growth while lowering the cost of raising them, which, in turn, can decrease the price of cricket powder. In June 2017, Protix, a Netherlands-based company, raised USD 50.5 million in equity and debt funding in which the major investors were Brabant Development Agency (BOM), Rabobank, and Aqua-Spark, along with other private investors who had participated in the investment.

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In response, as general awareness and concern for the loss of tropical forest ecosystems and biodiversity, the government of Papua New Guinea deemed insects a national resource and a candidate for economic development. This policy resulted in the establishment of the Insect Farming and Trading Agency (IFTA) in 1978, which focused on creating income-producing opportunities for villages through non-destructive extraction of forest resources while at the same time creating an incentive for preservation. Thus, with proper regulations and government support, the number of insect farms and protein ingredient manufacturers focusing on insect protein-based food and feed is projected to increase during the forecast period.

Upcoming Growth Trends in the Insect Protein Market

Nutraceutical Ingredients Market To Explore Excellent Growth In Future

The nutraceutical ingredients market is estimated to be valued at USD 162.1 billion in 2020 and is projected to reach USD 227.5 billion by 2025, at a CAGR of 7.0% from 2020 to 2025. The growth of the market is driven by factors such as growth in the demand for fortified food owing to the increasing health consciousness amongst consumers. Key drivers for the market’s growth include increasing incidences of chronic diseases worldwide and mandates on food fortification by government organizations.

Market Dynamics

DRIVER: Growth in the demand for fortified food owing to the increasing health consciousness amongst consumers

According to a survey conducted by the International Food Information Council (IFIC), in 2009, 87% and in 2011, 89% of the consumers in the US agreed that certain foods have health benefits beyond their basic nutrition. This shows the consumers’ increasing interest in learning more about functional and fortified food products. In 2013, according to the Business Development Bank of Canada, “health concerns are rising, and health awareness is growing among Canadian consumers and will continue to accelerate as the population ages, with 25% of the population over the age of 65 by 2031.” According to a study conducted by the United Nations Department of Economic and Social Affairs, in 2013, the rise in the aging population, coupled with increasing incidences of chronic diseases, has led to changes in eating patterns.

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Consumers’ concerns regarding nutrient inadequacy tend to be general in nature, rather than concern on a specific health condition or nutrient/component in their diet. Among the consumers who are concerned with nutrient inadequacy in food products, only 16% were concerned with the inadequacy of one or more specific nutrients without regard to general nutrient inadequacy. Most consumers are concerned about general health issues resulting from nutrient insufficiency, rather than one specific health problem. For nearly all the nutrients or food components surveyed, at least 6 in 10 consumers believed they get enough to meet their needs. Omega-3 fatty acids are the exception, as only 50% of consumers believed they get enough omega-3s to meet their needs

RESTRAINT: Higher costs of fortified products dissuading large-scale usage and adoption

Nutraceutical ingredients find a wide variety of applications, such as functional food & beverages, animal nutrition, pharmaceuticals, and personal care products. However, the inclusion of nutraceutical ingredients in food & beverage products, feed products, pharmaceuticals, and personal care products results in an increase in the prices of these end products. This, in turn, leads to lower adoption of such products, thereby stunting market growth. Over the past few years, there has been an increase in the demand for healthy alternatives of consumables as consumers have become increasingly conscious about the correct diet. Nutraceutical ingredients, when added to any kind of food & beverage product, result in the formation of functional food & beverages, which, in some way, impart a health benefit.

OPPORTUNITY: Product-based and technological innovations in the nutraceutical ingredients industry

Personalized healthcare technologies are being rapidly adopted by various nutraceutical ingredient manufacturers to formulate better-suited and customized end products for consumers. Consumer product companies are now increasingly collecting data to enable a proper analysis of purchasing behavior and lifestyle to provide consumers with tailored options in accordance with their purchasing patterns. For instance, in 2013, Tesco announced its intention to use its Clubcard information to be able to track various chronic illnesses that consumers pay heed to, for the provision of tailored solutions to promote healthier eating habits. This information not only aids consumer companies to come up with personalized dietary advice but also establish significant partnerships with different pharmaceutical companies to help personalize over-the-counter supplements. Apart from the study of consumer purchasing patterns, the personalization of nutraceutical products is also amplified by genomics by enabling treatments that are closely linked to an individual’s genetic profile. Epigenetics and nutrigenomics have identified that every individual has different nutritional requirements, and they respond to food in different ways. This provides a huge market opportunity for nutraceutical end-product manufacturers, whereby, linking a diet to a genome not only results in boosting health, but also reduces the chance of developing adverse health conditions, such as cardiovascular diseases, obesity, diabetes, or inflammatory bowel diseases. Such corroborated usage of technology with a dietary design is further expected to present unforeseen market growth opportunities for nutraceutical ingredient manufacturers.

CHALLENGE: Consumer skepticism associated with nutraceutical products

Along with a growing consumer awareness about better dietary choices and increasing health awareness, there also remains an underlying consumer skepticism associated with the adoption of nutraceutical products. While this skepticism stems from multiple factors, the two major reasons hindering consumer adoption of nutraceutical products are their unsubstantiated health claims and synthetic sourcing. Health claims act as a major marketing and selling points for most nutraceutical ingredient manufacturers; however, when such claims do not result in successful fruition, consumer skepticism toward these products increases. For instance, in 2010, Danone withdrew claims that Actimel and Activia boost the immune system and aid digestive health after doubts were raised regarding the same, by the European Food Safety Authority (EFSA) and the UK Advertising Standards Authority. As a result, manufacturers of such nutraceutical products remain highly stunted in the manner in which they are able to reach consumers, thereby hindering product adoption

The key players in the nutraceutical ingredients market include Associated British Foods (Uk), Arla Foods (Denmark), DSM (Netherlands), Ingredion Incorporated (US), Tate & Lyle PLC (UK), Ajinomoto Co., Inc. (Japan), Tate & Lyle (Ireland), Chr. Hansen (Denmark), Kyowa Hakko Kirin Group (Japan), Glanbia plc (Ireland), Fonterra Co-operative Group Ltd. (New Zealand), Cargill (US), ADM (US), DuPont (US), BASF (Germany) are the players that hold a significant share in the nutraceutical ingredients market.

Associated British Foods (UK) is a major player in the nutraceutical ingredients market. Associated British Foods was previously known as Food Investments Ltd. and changed its name in 1982. The company is engaged in the processing and manufacturing of food, ingredients, and retailing. It operates through five business segments, namely, sugar, agriculture, retail, grocery, and ingredients. The ingredients segment manufactures bakers’ yeast, bakery ingredients, and yeast extracts. The company offers nutraceutical ingredients through the ingredients segment.

The organization operates through its subsidiaries, such as AB Agri (UK), AB Mauri (UK), ABF Vista (UK), ABF Ingredients (UK), ABITEC Corporation (US), SPI Pharma (US), and Ohly (Germany). Among all subsidiaries of the company, ABF Ingredients (UK), ABITEC Corporation, and Ohly (Germany) holds significant market positions in the Americas, Europe, and Asia. SPI Pharma (US), is one of the prominent suppliers to the pharmaceutical, nutraceutical, and animal health products worldwide.

DSM is a global science-based company operating in the health, nutrition, and materials business. The company operates through five segments—nutrition, materials, innovation center, corporate activities, and partnerships. Its nutrition segment includes DSM Nutritional Products and DSM Food Specialties. The nutrition and food specialty segment of the company caters to different end-use application industries, such as food, feed, nutraceutical, infant nutrition, personal care, and pharmaceutical.

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The company offers nutritional supplements, such as vitamins, carotenoids, nutritional lipids, omega acids, premixes, and astaxanthin for both human and animal nutrition. These products are developed under its DSM Nutritional Products business. The company offers its nutraceutical ingredient products for the dietary supplements and food & beverage industry.

DSM offers feed additives through its animal nutrition & health division, which falls under the DSM Nutrition Products business. It offers a wide range of products that include carotenoids, eubiotics, vitamins, and feed enzymes for various animal species, such as aquaculture, poultry, ruminants, swine, and companion animals. The company operates in more than 40 countries with over 100 commercial production facilities.

Environmental Testing Market to Showcase Continued Growth in the Coming Years

The global environmental testing market size is estimated to be valued at USD 8.3 billion in 2020 and projected to reach USD 12.1 billion by 2025, recording a CAGR of 7.9% during the forecast period. The demand for shrink film for environmental testing is increasing significantly, due to the various regulations of government and increased in the awareness among consumers regarding environment.

Market Dynamics

Driver: Increase in the stringency in regulations related to environmental protection

Environmental regulations have had enormous benefits in terms of lives saved and illnesses averted, especially through reductions in airborne particulates. Environmental regulations have greatly improved air and water quality, especially in areas that were dirtiest before the regulation. Regulations and legislations set forth by government organizations have triggered the testing, inspection, and certification of environmental samples tested by the government and manufacturing companies. Regulatory bodies have introduced guidelines for regulating the inspection, sampling, and testing services of environmental samples to detect the presence of pollutants and contaminants. These bodies have introduced various programs to generate awareness and set testing specifications to ensure the safety of the environment and reduce the health risks associated with a polluted environment.

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Restraints: High capital investment for accurate and sensitive analytical testing

High costs and extensive sample preparation require laboratory analysts to use advanced testing technologies. A wide range of existing testing methods and the introduction of advanced technologies to conduct testing of environmental samples have resulted in an effective change in environmental testing. Liquid chromatography, high-performance liquid chromatography, and spectrometry are the advanced technologies that are used for environmental testing. Technologies are sensitive, accurate, and efficient. However, the mentioned technologies have a high cost of the equipment, extensive sample preparation, and calibration issues, which are a restraint to market growth. Most of the analytical methods are suitable for only certain samples such as soil, water, and effluent, while other methods are used for testing air samples. However, the cost of these tests is very high, which significantly leads to the need for higher capital investments, which, in turn, is the hindering factor for market growth.

Opportunities: Increase in industrial activities in emerging markets

Increase in industrialization in regions such as the Asia Pacific and Africa has increased awareness among the people regarding environmental pollution and degradation. This has resulted in the implementation of numerous environmental protection acts, which are the key opportunity for the environmental testing market. Because of the increase in pollution and environmental contamination, several amendments and new environmental safety standards are expected to be set up mainly in the developing economies such as Asia Pacific regions in the next five years. The progressive development of new testing methods for testing samples of contaminants such as pesticide residues, heavy metals, and organic chemicals is expected to play an important role in promoting the growth of the market.

Challenges: Lack of basic supporting infrastructure

Testing & certification practices in several developing countries lack organization, sophistication, and technology. The lack of basic supporting infrastructure for setting up testing laboratories acts as a major challenge to the growth of the market. Testing services in some areas of developing regions also face the challenge of obtaining samples from manufacturing companies, as they are fragmented and dominated by small enterprises.

There are several key issues, such as the lack of institutional coordination; shortage of equipment and technical skills & expertise for the implementation of legislation at grass root levels; and the lack of updated standards; which hinder the market for environmental testing. Good manufacturing practices (GMP) are required to ensure cooperation between manufacturing companies and government testing services. Lack of these has been acting as a bottleneck in the growth of the market. With substantial support from governments, there can be some growth in the market, majorly in developing regions such as the Asia Pacific and Africa.

North America is the dominating market for Environmental testing as it is crucial in present scenarios of industrialization, where the prevalence of contaminants and pollutants is high. Government and non-government agencies have laid down stringent plans for markets, which the organizations have to adhere to in every possible sector. The increase in demand for resources, such as drinking water, building material, and fuel is on its peak. As a result, the need for environmental testing services and certification is dominating in the region.

The presence of various environmental governing organizations in the US is driving the growth of the environmental testing market through the implementation of various environmental protection policies. The number of testing laboratories has doubled in the major regions, such as North America and Europe, in the last few years, aiming to safeguard the environment. The regulatory bodies in the regions are closely monitoring the safety and quality of the environment to establish environmental safety across the geographies.

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Wastewater/effluent is the dominating sample segment for environmental testing market. Since a lot of wastewater/effluent is generated by all industrialization process in the developed economy of North America, the government encourages the wastewater recycling to meet the increasing water demand. Therefore, the region is a dominant market for testing of wastewater/effluent.

Water is the fastest growing sample segment of environmental testing market. A wide range of testing is provided by the environmental testing firms to analyze and certify water for different purposes, such as groundwater, wastewater, and drinking water. The testing companies look for aquatic toxicity, the presence of harmful microorganisms, and various unwanted organic and inorganic compounds in the water, which can be harmful to the consumption or environment

Dairy Processing Equipment Market to Showcase Continued Growth in the Coming Years

The global dairy processing equipment market size estimated at USD 9.2 billion in 2020 and is projected to grow at a CAGR of 5.4% to reach USD 12.0 billion by 2025. The market has a promising growth potential due to several factors, including the rising production and consumption of milk and other dairy products along with increased automation in dairy product manufacturing.

Dairy processing equipment consists of equipment used for optimum utilization of milk properties and nutrients. In order to prepare a diverse range of dairy products such as processed milk, fresh dairy products, butter & buttermilk, cheese, milk powder, and protein ingredients, many different processes were developed by the industry. The dairy product manufacturing involves various processes such as pasteurization, homogenization, filtration, drying, and separation. To enable these processes, dairy processors use equipment such as pasteurizer, homogenizers, separators, evaporators & dryers, membrane filtration equipment, mixers & blenders, and other equipment such as churning equipment, crystallizers, chillers, silos, cutters, and cheese vats.

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The dairy processing equipment market, by operation, is divided into automatic and semi-automatic. There is a greater preference toward automated dairy processing equipment, as it ensures food safety, consistency in product quality, economic production, reliability, and traceability in case of malfunctions/failures. With the increase in demand for various food products, there is a need to reduce the time involved in the processing of these products. Hence, manufacturers across the dairy industry prefer automated dairy processing equipment to use in the industry.

The dairy processing equipment market, on the basis of type, is segmented into pasteurizers, separators, evaporators & dryers, membrane filtration equipment, homogenizers, mixers, and blenders, and others which include churning equipment, crystallizers, chillers, silos, cutters, and cheese vats. The dairy processing market was dominated by the use of pasteurizers in 2019. Pasteurization of milk is carried out to kill the pathogens in the milk.

Asia Pacific accounted for the largest share of the dairy processing equipment market in 2019. In tropical countries with high atmospheric temperatures, processing of milk and milk products is required to enhance the product shelf life. The development of dairy processing equipment and technologies has helped to improve the shelf life of dairy products and introduce innovative products for human consumption.

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The key types of dairy processing equipment used for milk processing are pasteurizers, homogenizers, separators, evaporators & drying equipment, membrane filtration equipment, and other equipment such as churning equipment, crystallizers, and cheese vats. Dairy processing equipment is used for the processing of various dairy products including flavored milk, cheese, cream, protein concentrates, buttermilk, and yogurt.

Vitamin D Market : Key Factors and Emerging Opportunities with Current Trends Analysis

The vitamin D market, in terms of value, is estimated to account for nearly USD 1.1 billion in 2020 and projected to grow at a CAGR of 7.0%, to reach nearly USD 1.6 billion by 2025. The vitamin D market has been growing in accordance with the rise in demand and consumption of feed around the world. The feed industry is witnessing an upward trend in the demand for enriched feed products, which supports the demand for nutritional additives such as vitamin D. Furthermore, developing economies such as China and India, where there is a growing focus on animal nutrition, different vitamins are expected to experience a strong rise in the demand from the feed industry.

The dry segment is estimated to account for a larger share in the vitamin D market in 2020.

By form, the dry segment is estimated to account for a larger share in the market in 2020. The dry form of vitamin D is preferred by manufacturers due to its greater stability, ease of handling and storage, and convenience of usage in a wide range of products. Most of the vitamin D sold are synthetic. Vitamins D2 and D3 are mainly available in colorless crystals; their solubility in vegetable oil is low. The vitamin D3 analog is more stable as compared to that of vitamin D2. Vitamin D3 is estimated to be the majorly consumed vitamin D analog in the world.

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

The deficiency of vitamin D is widespread in Asia Pacific, particularly in South and Southeast Asia. Rickets (a deformity due to “soft bones”) is very common in China and is a result of poor vitamin D consumption. Furthermore, the rise in income levels and significant consumer demand for nutritional & healthy products are expected to provide promising prospects for the growth and diversification of the region’s functional food & beverage products, in turn, leading to growth in the consumption of vitamin-infused products, and thereby driving the market growth.

China and India are two of the most favorable markets for vitamin D manufacturers for expansion, due to the rising demand for animal feed, fortified food products, and easy availability of raw materials. It has become a key destination for manufacturers of vitamin D supplements and pharmaceutical product companies such as the Alkem Laboratories (India), Cadila Pharmaceuticals (India), Abbott Laboratories (US), and Sanofi S.A (France).

Vitamin D plays an important role in maintaining healthy bones and the regulation of immune systems; it is also associated with the prevention of heart disease, cancer, diabetes, and multiple sclerosis. The body requires sufficient vitamin D from a healthy diet and exposure to the sun. The major role of vitamin D is maintaining normal levels of calcium and phosphorus in the blood. It helps the body to absorb calcium, which forms and maintains strong bones. It also protects the body against osteoporosis, osteomalacia, rickets, and cancer. Vitamin D is found in food products such as fish, eggs, fortified milk, and cod liver oil.

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The key players in the vitamin D market include Zhejiang Garden Biochemical High-Tech Co.,Ltd (China), Koninklijke DSM N.V. (Netherlands), Zhejiang Xinhecheng Co., Ltd. (China), Taizhou Haisheng Pharmaceutical Co., Ltd. (China), Xiamen Jindawei Vitamin Co., Ltd. (China), Fermenta Biotech Ltd. (India), Zhejiang Medicine Co., Ltd.(China), BASF (Germany), and Dishman Group (India). The key market players, along with the other players, adopted various business strategies such as new product launches, expansions, and joint ventures & agreements, in the last few years, to meet the growing demand for vitamin D.

Food Colors Market Growth Opportunities by 2026

According to the new market research report "Food Colors Market by Type (Natural, synthetic, nature-identical), Application (Food products, and beverages), Form (Liquid, powder and gel), Solubility (Dyes and lakes) & Region - Global Forecast to 2026", published by MarketsandMarkets™, the market for food colors is estimated at USD 4.3 billion in 2021; it is projected to grow at a CAGR of 4.7% to reach USD 5.4 billion by 2026.

Browse in-depth TOC on "Food Colors Market"

323 - Tables
57 - Figures
364 - Pages

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The production of food colors is continuously increasing, and companies are investing increasingly in research & development activities of natural and synthetic colors to enhance their existing product portfolio across various regions. The demand for food & beverage products processed with the inclusions of food colors is comparatively higher. The lucrative opportunities are available in the emerging regions due to the growing economy and technological advancement. The market in China is projected to grow at a higher pace due to an increase in industrial activities.

The natural colors sub-segment is estimated to account for the largest market share in the by type segment for the Food Colors Market.

Natural pigments are being increasingly emphasized upon as they have achieved commercial significance, and consumers have perceived them as safe additives. Besides aesthetics, natural pigments have potential physiological effects due to their potent antioxidative properties. Advancements in technological innovations, such as nano-encapsulation, supercritical carbon dioxide, supercritical fluid, gas-based extraction, and spinning cone column, to increase the efficiency of extraction have also been encouraging the growth of the food color industry.

By application, the food sub-segment is estimated to account for the fastest growth in the Food Colors Market.

The growth in the processed and packaged food markets directly impacts the growth of the Food Colors Market. Due to the growth in the processed food & beverage market, the demand for food colors is also projected to grow at a rapid pace. The processing of food products involves various practices, including thermal and non-thermal processes. These processes alter the characteristics of the original color of food products due to various process parameters, such as temperature, moisture, and PH. Due to these factors, the demand for food colors in processed food products is increasing to impart natural aesthetics to the products.

The liquid sub-segment by form is estimated to account for the largest market share of the Food Colors Market over the forecast period.

Natural food colors are highly in demand in the global markets, these colors are extracted from natural resources such as turmeric, saffron and carrots. These are extracted in liquid form and thus they are estimated to drive the global market for liquid food colors.

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The dyes sub-segment is estimated to observe the fastest market growth in the Food Colors Market during the forecast period.

The growth for dye food colors is driven by the food sector globally as this segment is a strong end use industry. Dye food colors impart strong color and have high stability at different temperatures and PH due to which their production is increasing. Thus these factors are estimated to drive the market growth.

Europe is estimated to be the largest market.

There are key players in the European markets that supply high-quality food products in the European markets, such as DSM (Netherlands), Naturex (France), and Campbell Foods Belgium NV (Belgium) and they are significantly encouraging the trends of developing new products in the region. The high demand for packaged food and the growing bakery and confectionery and dairy & frozen products market in Germany. Furthermore, investments in new technological developments are projected to encourage the formulation of innovative natural or nature-identical colors for applications, such as pharmaceuticals and processed food.

Key players:

Key players in Food Colors Market include ADM (US), International Flavors & Fragrances Inc. (US), Sensient Technologies Corporation (US), DSM (Netherlands Naturex (France), DDW (US), Döhler Group (Germany), Florio Colori (Italy), Lycored (Israel) and Kalsec Inc. (US). These players in this market are focusing on increasing their presence through agreements and collaborations. 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.

Dairy Alternatives Market worth $40.6 billion by 2026 - Exclusive Report by MarketsandMarkets™

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).

Mycotoxin Testing Market Will Hit Big Revenues In Future

The global mycotoxin testing market size estimated at USD 946 million in 2020 and is projected to grow at a CAGR of 7.1% to reach USD 1,337 million by 2025. The market has a promising growth potential due to several factors, including the increasing awareness of mycotoxin testing and strict government regulations for mycotoxin testing in both food and feed products. Increase in instances of foodborne illnesses due to mycotoxin contamination, growth in demand for compliance with international trade mandates, and change in atmospheric conditions are some factors that are driving the market.

The demand for mycotoxin testing is significantly increasing due to factors such as growing recalls and border rejections with growth in international food trade, stringent regulations across various countries, and changing climatic conditions. The high cost associated with the installation of technologies inhibits the growth of the mycotoxin testing market. The European region is projected to account for the largest market, owing to the growing prevalence of Fusarium toxins due to changing climatic conditions, coupled with the strengthening of the feed and food mycotoxin testing policies by the contributed efforts of Control Laboratories (CLs), National reference laboratories (NLRs), and EU Reference Laboratories (EURLs).

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The mycotoxin testing market, by technology, constitutes of two segments, namely, chromatography- & spectroscopy-based and immunoassay-based. The chromatography- & spectroscopy-based segment is projected to grow at a higher CAGR, owing to the faster and reliable test results of LC-MS/MS, fueling the market growth for mycotoxin testing.

The mycotoxin testing market, by sample, is segmented into food and feed. The cereals, grains, and pulses segment in the food mycotoxin testing market recorded the highest CAGR, due to a higher level of contamination with various mycotoxins. Cereals, grains, and pulses are more susceptible to the co-occurrence of mycotoxin, thereby creating demand for testing, as these are used in various products for food processing.

Increasing food trade across borders of emerging markets, launch of advanced technologies for the detection of mycotoxins, rise in co-occurrence of mycotoxins, launch of economic multi-toxin analysis systems, and increase in demand for cereal products and oats and the emergence of new mycotoxins in agricultural commodities such as enniatins, beauvericin, moniliformin, fusaproliferin, fusaric acid, culmorin, butenolide, sterigmatocystin, emodin, mycophenolic acid, alternariol, alternariol monomethyl ether, and tenuazonic acid prove to be some of the opportunities in this market.

The major players in the industry are focusing on new service, technology, and services launches; mergers & acquisitions; expansions & investments; and agreements, collaborations, partnerships, and mergers to increase the global footprint in the area of mycotoxin testing.

Asia Pacific is estimated to be the fastest growing market of the mycotoxin testing in 2020, The climatic conditions in the Asia Pacific region range from tropical to semi-tropical and temperate, which are conducive to the growth of mycotoxins. There is a growing awareness among the poultry farmers about the presence of other mycotoxins besides aflatoxins such as ochratoxin, T-2 toxin, deoxynivalenol (DON), zearalenone, citrinin, and, fumonisins in the Asia Pacific region. Aflatoxins accounted for the largest market share, followed by ochratoxins. The growth in this region is largely driven by China, Japan, and India.

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The key players in the mycotoxin testing market include SGS (Switzerland), Bureau Veritas (France), Eurofins (Luxembourg), Intertek (UK), Mérieux NutriSciences (US), ALS Limited (Australia), Neogen (US), Romer Labs (US), Symbio Laboratories (Australia), OMIC USA (US), AsureQuality (New Zealand), and Microbac (US). Service providers adopted various growth strategies such as new services, technologies, and product launches; expansions & investments; acquisitions; and agreements, collaborations, mergers, and partnerships to cater to the increasing demand for testing and to strengthen their position in the market.

Agrigenomics Market Growth by Emerging Trends, Analysis, & Forecast

According to the new market research report “Agrigenomics Market by Application (Crops and Livestock), Sequencer Type (Sanger Sequencing, Illumina HiSeq Family, PacBio Sequencer, SOLiD Sequencer), Objectives, and Region (North America, Europe, APAC, South America, Row) – Forecast year 2026“, published by MarketsandMarkets™, the global Agrigenomics Market is projected to grow from USD 3.3 billion in 2021 to USD 5.3 billion by 2026, at a CAGR of 9.7 % from 2021 to 2026. The growth of this market is projected to be driven by the increasing burden on current food production systems amidst the rapidly expanding global population, rise in the number of genetic diseases affecting plants & animals, and technological advancements in the field of applied genetics. The global marketplace has witnessed a significant increase in crop genomic resources and advancements in genome analysis facilitating basic and translational agricultural research. This trend is expected to continue strongly throughout the forecast period.

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Crops, by Application, is estimated to hold the largest market share during the forecast period

The application of agrigenomics in crops is projected to account for the largest share in the agrigenomics market. With the rapidly growing global population, changing climate, and environmental pressure, there is an urgent need to accelerate breeding novel crops with higher production, drought or heat tolerance, and less pesticide usage. Advances in genomics offer the potential to speed up the process of developing crops with promising agronomic traits. Agricultural genomics is a rich field that has been contributing to advances in crop development for decadesGenome-editing tools in crops are set to revolutionize our understanding of the subtle desired genes which are responsible for improvised agricultural traits. The development of genetically improved crops is expected to continually contribute to food production and nutritional security, thereby meeting the rapidly expanding global food demand.

Marker-assisted Selection, by objective, is estimated to hold the largest share in the agrigenomics market during the forecast period

The Genome analytic tools such as marker-assisted selection are estimated to act as a major solution for breeding projects for crops and livestock. Marker-assisted selection is expected to dominate with an estimated share of ~22% by the end of 2021. Marker-assisted selection or marker-aided selection (MAS) is an indirect selection process where a trait of interest is selected based on a marker (morphological, biochemical, or DNA/RNA variation) linked to a trait of interest (e.g., productivity, disease resistance, abiotic stress tolerance, and quality), rather than on the trait itself. This process has been extensively researched and proposed for plant and animal breeding. It uses conventional breeding approaches and does not involve transgenic approaches. Marker-assisted breeding uses DNA markers associated with desirable traits to select a plant or animal for inclusion in a breeding program early in its development. This approach dramatically reduces the time required to identify varieties or breeds which express the desired trait in a breeding program.

Illumina HiSeq Family, by sequencer type, is estimated to account for the largest market share during the forecast period

Sequencing tests based on Illumina HiSeq accounted for the largest share in the agrigenomics market in 2020. It is a very powerful sequencing system with the flexibility to perform multiple applications. Illumina HiSeq System is a powerful and proficient ultra-high-throughput sequencing system that supports a comprehensive range of applications and study sizes. Illumina sequencers are the most widely used, efficient, and expensive, which work based on polymerase-based sequence-by-synthesis. The system provides several advantages over the existing hybridization-based expression data of microarrays with regard to resolving potential modes of action during sequencing. Hi Seq has a read length of 100 x 100 base pairs of paired ends of a DNA molecule. It consumes a time run of 3-10 days but provides an accuracy of 99.9%.

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North America is estimated to hold the largest market share during the forecast period

North America dominated the agrigenomics market due to the strong R&D, technology innovation, and increased mergers and acquisitions in agrigenomics in the region. North America is the largest market for agrigenomics services and solutions globally; this is attributed to the numerous key technology providers, streamlined policy and regulatory framework, and effective research processes. The number of in-house testing laboratories in North America has also doubled since the 1990s, with the aim to develop more sustainable agricultural products (both crop- and livestock-related). The role of contract research organizations has also increased in North America, leading to the prospects of commercialization of agrigenomics testing services.

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 agrigenomics market. It consists of the profiles of leading companies such Eurofins Scientific (Luxembourg), Agilent Technologies, Inc. (US), Thermo Fisher Scientific Inc. (US), LGC Limited (UK), Illumina, Inc. (US), and Zoetis Inc. (US).

Feed Additives Market Will Hit Big Revenues In Future

According to MarketsandMarkets, the "Feed Additives Market by Type (Amino Acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin Detoxifiers, Flavors & Sweeteners, Minerals, and Antioxidants), Livestock, Form, Source, and Region - Global Forecast to 2026" size is estimated to be valued at USD 38.1 billion in 2021. It is projected to reach USD 49.6 billion by 2026, recording a CAGR of 5.5%, in terms of value. The growing consumption of livestock-based products and increasing feed manufacturers is driving the demand for feed additives.

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Impact of COVID-19 on feed additives market

The outbreak of COVID-19 has brought serious medical, social, and economic challenges. Where the medical community is focused on developing successful diagnostic and medical treatment, the feed industry is also focused on manufacturing healthy products using for animals using feed additives to combat diseases by providing immune support.

Owing to the increasing COVID-19 pandemic outbreak in various regions/countries, the feed additives market in 2020 was observed to witness a decline due to the lockdowns in various countries, closure of the international borders, and delay in cross border transit that has led to supply chain hindrances. The social distancing and the other measures taken by the regional governments limit the number of people who can work together in small areas. Thus, the decline in 2020 in the feed additives market growth was mainly due to the major impact of the COVID-19 pandemic. Gradually, as the restrictions of the government measures are likely to relax, the market for feed additives would witness a slight increment in the upcoming years till 2026.

Key players in this market include Cargill (US), ADM (US), Dupont (US), Evonik (Germany), BASF (Germany), DSM (Netherlands), Ajinomoto (Japan), Novozymes (Denmark), Chr Hansen (Denmark), TEGASA (Spain), Nutreco (Netherlands), Kemin Industries Inc. (US), Adisseo (France), Alltech (US), Palital Feed Additives B.V. (Netherlands), Global Nutrition International (France), Centafarm SRL (Italy), Bentoli (US), NUQO Feed Additives (France), and Novus International Inc. (US).

The key players are fixated upon improving their market shares, while their newer start-ups are being established rapidly in the market. The feed additives market can be classified as a competitive market as it has the presence of a large number of organized players, accounting for a major part of the market share, present at the global level, as well as unorganized players present at the local level in several countries. There are numerous existing and emerging companies, particularly in the Asian markets.

Cargill is involved in the manufacturing and marketing of food, agricultural, financial & industrial, and animal nutrition & protein products. The company offers feed ingredients through the animal nutrition business segment. Cargill’s animal nutrition provides feed additives through its brand, Promote for poultry, swine, beef, and dairy. It offers products such as probiotics, enzymes, antioxidants, and mycotoxin detoxifiers. The company operates across 70 countries with R&D centers in Europe, North America, and Latin America that provide services in various countries of Africa, Europe, Asia, Latin America, North America, and the Middle East to improve its global presence significantly.

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Archer Daniels Midland Company (ADM) is primarily engaged in the production of food ingredients, animal feed & feed ingredients, biofuels, and naturally-derived alternatives to industrial chemicals. The company operates through four business segments, namely, agriculture services and oilseeds, carbohydrate solutions, nutrition, and others. It offers feed additive products through its subsidiary ADM Animal Nutrition, Inc. (US). It offers specialty ingredients, premixes & blending, and feed products for animal health. ADM is identified as one of star players in the feed additives market as the company offers a wide range of products with its key focus on innovation in the market.