Research Reports And Consulting

The global tea extracts market is estimated to be valued at USD 2.5 billion in 2019 and is projected to reach USD 3.8 billion by 2025, recording a CAGR of 6.9%. The market is projected to witness significant growth due to factors such as the increase in the consumption of functional foods, rise in health consciousness among consumers, and increasing adoption of tea due to the ill-effects from caffeine, thereby widening the scope of its applications. The increasing market potential, growing population, and growing demand for different types of tea extracts, as per health benefits, are factors that are projected to impact the growth of the tea extracts market.

The demand for tea extracts remains high across developed markets, such as the US and UK. Developing countries, such as China, Brazil, and India, are projected to witness a surge in demand for tea extracts in the coming years. This demand is projected to remain high due to the increase in the production of processed and functional food products. Emerging economies, such as Malaysia, Indonesia, and Thailand, in the Asia Pacific region, are also witnessing high growth. In addition, the exponential growth is projected to be witnessed in the new and emerging markets, such as China, India, and other Asia Pacific countries.

Key manufacturers are focusing on expanding in Asia, as it offers cost-effective benefits to manufacturers, in terms of production and processing, due to the low prices of raw materials and cheap labor. The rise in the standard of living and changes in lifestyles in developing countries also contribute to the growth of the functional food and convenience products market.

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Companies are increasingly investing in R&D activities, and new product launches to incorporate the formulations of existing products and cater to customer requirements. Companies are focusing on innovating new products to benefit their customers. The rise in health concerns and the consumer demand for healthy products are expected to encourage companies to invest in research & development activities. Top players such as ADM (US), Givaudan (Switzerland), and Dupont (US) are focusing on engaging in research & development activities to meet the increasing demand for tea extracts in various applications. In June 2019, Givaudan (Switzerland) launched its innovation center to produce differentiated flavors, taste, and aroma in various products, such as food, beverages, and personal care.

The company has also acquired Naturex (US), an international leader in plant extraction, to set up its foot in the US market.
By application, the tea extracts market is segmented into food, beverages, pharmaceuticals, and cosmetics. Beverages are the most popular application of tea extracts, as tea has been one of the conventional beverages since time immemorial. Also, due to its antioxidant and anti-inflammatory properties, it has gained popularity in recent times, aligning with the shift towards the healthy lifestyle among consumers. Hence, the beverages segment is estimated to dominate the market in 2019, by application.

Green tea extracts are used in various applications, such as food, beverages, and cosmetics. Due to the rising health consciousness, consumers are shifting towards the non-conventional type of nutrient options. Consumers are willing to spend on luxury foods and beverages due to the increase in disposable income and the rise in geriatric population. Consumers are also keen to switch from traditional caffeine-based drinks to flavored tea extracts.

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The major players, such as Dupont (US), ADM (US), Givaudan (US), Kemin Industries (US), and Frutarom (US), in the tea extracts market, are focusing on undertaking new product launches, expansions & investments, and acquisitions to expand their global footprint.

The global prepared food equipment market size is estimated to account for a value of USD 10.4 billion in 2020 and is projected to grow at a CAGR of 6.4% from 2020, to reach a value of USD 15.1 billion by 2026. The prepared food equipment markets growth is driven by various factors, such as increasing options for RTE foods, technological advancements in food industry, industrialization, and the export of various prepared foods.

Key players in the prepared food equipment market include GEA Group (Germany), Alfa Laval (Sweden), JBT Corporation (US), SPX FLOW (US), Bühler (Switzerland), Tetra Laval (Switzerland), Dover Corporation (US), Robert Bosch (Germany), Krones (Germany), Middleby Corporation (US), Marel (Iceland), IMA Group (Italy), Multivac (Germany), Ali Group (Italy). Product launches, acquisitions, agreements, and partnerships, expansions were some of the core strengths of the leading players in the prepared food equipment market. The key players adopted these strategies to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Some of the other leading players in the prepared food equipment market include Lyco Manufacturing, Inc (US), Heat and Control, Inc. (US), BigTem Makine (Turkey), Hup Sheng Machinery & Industry (Malaysia), Sumpot (China), Hosokawa Alpine (Bayern).

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GEA Group (Germany) is one of the key players in providing efficient, prepared food solutions. The company is one of the largest manufacturers of prepared food equipment. The company functions through five segments—GEA separation & flow technologies, GEA liquid & powder technologies, GEA food & healthcare technologies, GEA refrigeration technologies, and GEA farm technologies. It offers various machinery such as refrigeration machines, induction, fryers, ovens meant for different applications like food, beverage and dairy. It has established a strong brand name and has a well-established distribution network because it is a key player in the food equipment industry. The company focuses on competitive strategies to continue being a leading player in the market by agreements and new product launches. For instance, in June 2020, GEA launched the new Whitebloc filling technology for extended shelf life (ESL) beverages to benefit from aseptic filling. In October 2020, GEA signed a contract to supply a new, environmentally friendly cooling system with one of the leading British ice cream producers, Mackie’s (UK), which will be one of the most advanced in Europe.

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Alfa Laval (Sweden) is one of the leading providers of processing and packaging equipment. It operates through three segments: energy division, food & water division, and the marine division. Moreover, it offers products like centrifuges, pumps & valves, heat exchangers, thermal fluid systems, boilers, burners, and tank equipment. The company’s products, systems, and services are widespread across more than 100 countries, with production facilities in 40 major production units and distribution centers in Europe, Asia, the US, and South America. The company aims to maintain efficient production operations by employing strategies like new product launches, expansions, and agreements. In October 2020, Alfa Laval opened a new global application & innovation center for fluid handling technology in Denmark to strengthen its global position within food & pharmaceuticals, which are the companys core businesses.

The global blockchain in agriculture and food supply chain market size is estimated to be USD 133 million in 2020 and is projected to reach USD 948 million by 2025, at a CAGR of 48.1% during the forecast period. Innovation combined with advanced technologies, such as blockchain and Artificial Intelligence (AI), offers revolutionary solutions to agriculture in the present markets. With the aid of blockchain technology, all the agricultural stakeholders will provide tamper-proof, accurate data about the farms, inventory, credit scores, and food tracking. Thus, the use and investments being made into such technological platforms are highly rising.

The product traceability, tracking, and visibility subsegment by application to dominate the market during the forecast period

Blockchain plays a key role in storing and providing accurate information at every step in the food supply chain. This facilitates increased trust among consumers to buy products from verified farmers and promotes responsible consumption. This technology provides reliable information regarding the origin of the food items right from the source to the store to the consumers, driving its use in the global markets especially in the time of pandemic outbreaks.

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The large enterprises subsegment by type to account for the largest market share in the blockchain in agriculture and food supply chain market

Walmart, Nestle, Kroger, and Carrefour are some of the key giant food retailers that have successfully implemented blockchain technology in their operations since 2018-2019. These are globally operating conglomerates and have invested heavily in understanding their client demands, securing the safety and quality of their food products, and ensuring the traceability of their end product offering to the consumers. Thus, these companies were able to capture larger customer bases and the same model is being implemented by other smaller businesses to implement the same. Thus, the market for this technology is highly in demand.

The application and solution provider subsegment by provider to account for the fastest growth in the blockchain in agriculture and food supply chain market

According to the business model and respective markets, the services for the highly customized application of blockchain technologies are trending globally. Further application and service blockchain technologies that are being highly useful currently in the market can be given as:

 AgriChain – A blockchain company focusing on enabling peer-to-peer agricultural transactions and processing while cutting out the middlemen.
 AgriLedger – A UK social enterprise project supporting farmers in tracing food origins, getting easier access to financing, and storing transaction data.
 Demeter – A central hub to rent and farm micro fields anywhere in the world – with no middlemen, complexity, or the overhead of a big organization.

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These are strongly driving the demands.

North America is estimated to be the largest market.

With the presence of key food retailers and suppliers in the US and key technology and service providing companies, the region is experiencing faster growth. According to a US-based Food Marketing Institute (FMI) report, public demand for transparency is growing. The report found that 75% of consumers are more likely to buy brands that provide in-depth information beyond physical labels. According to the blog published by “Food Executive Industry”, changing consumer eating habit is also affecting transparency needs in the US. In 2020, more shoppers (64%) followed a diet or health-related eating program than in 2018 (49%). These factors are driving the strong rise of smart and advanced technology use in the food supply chains in the region.

 The global spray drying equipment market size is estimated to be valued at USD 4.5 billion in 2020. It is projected to reach USD 6.0 billion by 2025, recording a CAGR of 5.7% during the forecast period. The market has a promising growth potential due to several factors, including the rising consumption of processed and RTE food products and technological innovation in the field of spray drying equipment.

Key players in this market include GEA Group AG (Germany), SPX Flow (US), Shandong Tianli Drying Technology & Equipment (China), European Spraydry Technologies (UK), Buchi Labortechnik AG (Switzerland), and Labplant (UK), Advanced Drying Systems (India), Freund Vector Corporation (US), Dedert Corporation (US), Carrier Vibrating Equipment Inc. (US), and Yamato Scientific America (US), Tetra Pak International SA (Switzerland), G Larsson Starch Technology AB (Sweden), Hemraj Enterprise (India), and Acmefil Engineering Systems Pvt. Ltd. (India).

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GEA Group develops and produces process technology and equipment for various industries such as food, pharmaceuticals, and chemicals. Engineering solutions offered by GEA range from single pieces of equipment to complete plants. The spray dryers offered by GEA cater to several food & beverage applications such as sugar and sweeteners for breakfast cereals, paste from a variety of fruits, berries & vegetables, beverage extraction & concentration, mixing of flavors & aromas, soy protein, food colors, cocoa mixture, amino acids, carbohydrates, starch, malt, low-calorie sweeteners, which include sorbitol and xylitol. The company undertook various expansions and partnerships for growth in the spray drying market. For instance, the company has partnered with Danone (Netherlands), which is a leading manufacturer of baby formula. The company uses spray dryers, which can guarantee reliable, high-quality, and consistent powders. For this, GEA configured and installed 5 MVR evaporators, along with 2 MSD spray dryers to provide an ideal solution for manufacturing a varied nutritional formula product portfolio. This has helped the company in acquiring new clients in the European region, as well as understanding the real-time need of customers.

In April 2016, GEA launched the MM-100 spray dryer, which is an addition to its Mobile minor spray dryer range. The timely modifications in design, according to consumer preference, have made the product a significant success, particularly in the pharmaceuticals industry.
The modifications made in the design of the existing products increase the product applicability, and hence, is increasingly preferred by the existing clients.

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SPX FLOW is one of the leading global suppliers of highly specialized engineering solutions and equipment. It has operations in more than 35 countries and sales in over 150 countries across the globe. The company particularly serves the food, beverage, oil & gas, power generation (nuclear and conventional), chemical processing, compressed air, pharmaceutical, and mining markets globally. The product portfolio of this company includes pumps, valves, mixers, spray dryers, filters, air dryers, hydraulic tools, homogenizers, separators, and heat exchangers, along with related aftermarket parts and services. The company offers engineering equipment under 15 categories, such as analyzers, clarifiers, dispersion equipment, dehydration equipment, dryers, evaporators, fittings, filtration equipment, heat exchangers, mixers, pumps, separators, strainers, systems, and valves. Spray dryers are offered under the dryers category and serve the global dairy, food, beverage, industrial, healthcare, pharmaceutical, starch, and ethanol industries.

In December 2017, SPX Flow partnered with dairy ingredient plants in Galicia, Spain. The company would set up new spray drying equipment plants for the production of infant formula and sports & clinical nutritional products. This would help the company in increasing its geographical footprint, as well as widening the applicability of its products.

The global commercial greenhouse market size is estimated to be valued at USD 29.6 billion in 2020 and projected to reach USD 50.6 billion by 2025, recording a CAGR of 11.3% during the forecast period. The growth of the market can be attributed to the rising demand for food due to the growing population, and climate change, which affects the yield of crops. Also, growing knowledge about commercial greenhouse technology for higher yield will provide various growth opportunities for commercial greenhouse market in coming years.

Key players in this market include Richel Greenhouse (Eygalieres, FR), Argus Control Systems(British Colombia, Canada), Heliospectra AB (Gothenburg, SE), Rough Brothers Inc. (Vine Steet, Cincinnati, US), Logiqs BV (Maasdijk, NL), Lumigrow, Inc. (Emeryville, CA), Certhon (Poeldijk, Zuid Holland, NL), Hort Americas (Bedford, US), Agra Tech, Inc. (Pittsburg, US), and Nexus corporation (Northglenn, Colorado, US).

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Richel Group is engaged in the production, design, and marketing of greenhouses. The company provides two types of greenhouses: venlo greenhouses and plastic greenhouses. Under venlo greenhouses, Richel Group provides venlo greenhouses and photovoltaic greenhouses. Under plastic greenhouses, the company provides multi-span greenhouses, multi-tunnel and tunnel, and bi-tunnel greenhouses. Richel Group also provides numerous greenhouse equipment. The company provides greenhouses and greenhouse equipment for horticulturists, nurseries, vegetable growers for ground and suspended crops, young plant growers, seed growers, and greenhouse cultivation for medical cannabis. The company owns two production sites in France and operates in eighty countries. In 2019, Richel Group and GreenFood completed the greenhouse for the cultivation of strawberries in Armenia. The production area is about 9 hectares, which helped GreenFood become the biggest greenhouse strawberry producer in the CIS countries.

Certhon is one of the greenhouse solution providers based in the Netherlands. It is a joint venture of Wilk van der Sande (technical installations) and Bosch Inveka (greenhouse construction). The company provides greenhouses and technical installations to its customers. It also provides partial projects, which include greenhouses or renovation of heating systems. The business units of the company, such as production, marketing, processing, and R&D facilities, are spread globally.

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The projects of the company are executed globally in the Americas, Europe, the Middle East, and Africa. In May 2020, Certhon and DENSO Corporation established DENSO AgriTech Solutions, Inc. (Tokyo), a sales company that focuses on providing innovative horticulture solutions. This joint venture will offer customers with DENSO’s agricultural products and Certhon’s horticulture products and services.

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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222 – Tables
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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 "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).

The report "Pea Protein Market by Type (Isolates, Concentrates, and Textured), Form (Dry and Wet), Source (Yellow split peas, Lentils, and Chickpeas), Application, and Region (North America, Europe, Asia Pacific, South America, and Rest of the World) - Global Forecast to 2025" The pea protein market is projected to grow from USD 745 million in 2020 to USD 1,400 million by 2025, recording a compound annual growth rate (CAGR) of 13.5% during the forecast period. Key factors driving the growth of the pea protein market include the growing vegan population and the functional benefits and allergen-friendly nature of pea protein in food and beverage products.

The isolates segment is estimated to account for the largest share in 2019 in the pea protein market.

The isolate segment is estimated to dominate the market, on the basis of type, in terms of value, in 2019. Pea protein isolates are witnessing an increase in applications, such as performance nutrition products, confectioneries, cereals, plant-based dairy products, and plant-based meat products. Pea protein isolates are high-quality and protein-rich alternatives for vegans, vegetarians, lactose-intolerant consumers, and individuals looking for nutrient-rich protein alternatives (such as lectins). Pea protein isolate is well absorbed by the body and is highly digestible (98%). This isolate is rich in leucine, arginine, glutamine, and all the remaining branch chains and essential amino acids.

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The meat substitutes subsegment in the application segment is projected to account for the largest share during the forecast period.

The use of pea proteins is increasing in the meat substitutes industry, as their functional properties help in the production of meat substitute products, including burger patties and minced meat. The low processing costs, as compared to meat products, as well as simple storage options, have encouraged the acceptance of pea protein in the plant-based meat market. Companies in the region are also taking additional steps to drive investments in the industry.

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

The European market is projected to account for the largest share in 2025. The dominance of the market in this region is attributed to factors such as the large-scale production and consumption of plant-based products, as well as high raw material costs. Companies, such as Rouquette Freres (France), Emsland Group (Germany), and Cosucra Group (Belgium), are the key players operating in this market and focus on catering to the demands for pea protein in Europe. The rising awareness regarding the benefits of pea protein among consumers has led to increased inclination of manufacturers to comply with standards introduced by the EU regarding non-GMO products, thereby encouraging the growth of the market in Europe.

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Key Market Players

Key vendors in the global market include Rouquette Freres (France), Ingredion (US), Puris Foods (US), Emsland Group (Germany), Fenchem Inc (China), DuPont (US), The Green Labs LLC (US), A&B Ingredients (US), Glanbia PLC (Ireland), The Scoular Company (US), Axiom Foods Inc (US), Burcon Nutrascience Corp (Canada), Cosucra Groupe Warcoing (Belgium), SotexPro (France), AGT Foods (Canada), Shandong Jianyuan Foods Co., Ltd. (China), Yan Tai Shuang Ta Food Co., Ltd. (China), Kerry Inc (Ireland), ET-Chem (China), and Batory Foods (US). These players have broad industry coverage and high operational and financial strength.

The meat processing equipment market size is projected to grow from USD 6.8 billion in 2019 to USD 9.7 billion by 2026, recording a compound annual growth rate (CAGR) of 5.2% during the forecast period. Meat processing equipment is used to convert raw meat into the required finished meat product commercially through processes such as cutting, slicing, washing, blending, mixing, grinding, drying, thermal processes, freezing, coating, and cooling. The demand for meat processing equipment is increasing with the growth of the food and meat industry, owing to the increasing consumption of convenient meat products such as raw cooked meat, precooked meat, baked meat, dried meat, and other processed meat products.


Key meat processing equipment players include GEA Group (Germany), JBT Corporation (US), Marel (Iceland), Illinois Tools Work (US), The Middleby Corporation (US), Bettcher Industries (US), Equipamientos Carnicos (Spain), Biro Manufacturing Company (US), Braher (Spain), RZPO (Russia), Bizerba (Germany), Riopel Industries (Canada), Minerva Omega Group (Italy), Risco (Italy), Millard Manufacturing Corporation (US), Apache Stainless Equipment Corporation (US), Gee Gee Foods & Packaging (India), PSS Svidnik (Presovsky), Ross Industries, Inc. (US), and Metalbud Nowicki (Poland). Agreements, product launches, partnerships, and acquisitions were the dominant strategies adopted by major players. These strategies have helped them to increase their presence in different regions.


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GEA Group (Germany) is involved in the designing and manufacturing of food processing equipment and other industrial processing equipment catering to the chemical, pharmaceutical, marine, and other industries. The company operates in two major segments: BA equipment and BA solutions. It offers meat processing equipment, such as slicers, injectors, and massagers, under its BA equipment segment, through one of its subsidiaries, GEA Process Engineering Ltd. (Denmark). It focuses on developing products with advanced technologies to keep meat fresh for a longer duration. For instance, in February 2019, GEA introduced a new injection system, Multijector 2mm, that would be used for brining bacon/pork to keep them fresh for a longer duration.


Marel (Iceland) is engaged in the manufacturing of processing equipment for the meat, fish, and poultry industries. It operates through four major segments: meat, fish, poultry, and others (water treatment, intralogistics, alternative proteins, and potatoes). Marel is continuously focused on developing new and innovative products to expand their product portfolios with an emphasis on offering customized products as per customer demands. Also, it is focused on innovating products to increase its range of applications. It follows the strategy of acquiring other companies to expand its product portfolios, services, geographical footprint, and customer base. For instance, in October 2019, it acquired Cedar Creek Company (Australia), a firm specializing in software and hardware for meat processors, which would aid the company to manufacture more innovative products and to expand its production line.


Marel has acquired a wide range of international brands, which include GEBA (Israel), Stork poultry processing (Netherlands), Delford Sortaweigh (UK), Norfo (Norway), and CP food machinery (Denmark), in the recent years.

The probiotics market is estimated to grow at USD 49.4 billion in 2018 and is projected to grow at a CAGR of 7.0% from 2018, to reach a value of USD 69.3 billion by 2023. The demand for probiotics in fortified foods is projected to remain high due to the increasing awareness about their benefits, and willingness of consumers to purchase premium products incorporated with probiotics. The global demand for probiotics is increasing significantly due to the growing awareness among customers about their direct relation to digestive health benefits, the rise in demand for nutritious food, and increase in demand for quality animal-based products.

Market Dynamics

“Health benefits associated with probiotics fortified food is a major driver for the market”

Health awareness among consumers is on the rise and most consumers are constantly in search of healthy food products for consumption. Probiotics have proven strong benefits related to health, more specifically to the human digestive system.

Probiotics are found in supplement form or as components of foods & beverages. Their integration with inexpensive health foods, such as yogurt, fruit juices, and cultured dairy drinks has contributed to a significant market size. The most commonly used bacteria include Bifidobacteria and Lactobacilli, which are found in various dairy products, including yogurt. In the dairy category, yogurt is the most popular option for consumption of probiotics. Manufacturers are coming up with a variety of options in the yogurt category; for instance, in 2013, Chobani, LLC (US) introduced a line of Greek yogurt in the US market, which has now become one of the leading brands across North America.

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“Replacement of pharmaceutical agents provides a major opportunity for probiotics.”

The increasing demand for probiotics has shown that customers are preferring products with proven benefits. The increased evidence of health benefits associated with probiotics for health restoration has increased the customer expectations related to probiotics for health curing functions. This inclination toward a safe, natural, and cost-effective substitute for drugs has led the application of probiotics as pharmaceutical agents. Beneficial effects of probiotics as pharmaceutical agents seem to be strain- and dose-dependent. Clinical trials have displayed that probiotics may cure certain disorders or diseases in humans, especially those related to the gastrointestinal tract

High R&D costs for developing new probiotic strains is a major restraint for the global market

Substantial investments in R&D activities and investments in laboratories, research equipment, and high cost of hiring trained professionals create barriers for the development of the probiotic market. The scientific validation regarding the usage of probiotics in their applications becomes a success to this market. Probiotics applications are linked with health benefits, which make it challenging for manufacturers to get an adequate return on investments on high initial investments.
Probiotic strains and products are developed and produced as per the international food regulations. Due to the high cost of production, the cost of the final product is also high. Marketing and distribution of these products also add to the product price, as they require different packaging and distribution channels as compared to common products. Though consumers are aware of the health benefits of probiotics, their high prices are restraining them from buying the product, which is a challenge for manufacturers.

“Asia Pacific is projected to be the fastest growing region in the probiotic market.”

The Asia Pacific is projected to be the fastest-growing market for the period considered for this study, due to the rising in disposable income and the increase in demand for nutritional food products, along with the growing technology base, leading to the increased demand for probiotics in the region. The rapid economic growth in countries such as China, Japan, Brazil, and Argentina have led to a significant increase in the disposable incomes of livestock owners. This, in turn, is driving the demand for probiotic-based food, making the Asia Pacific the fastest-growing market globally.

“The food & beverages application segment for probiotics is estimated to account for the largest share in 2018.”

Based on application, the food & beverages segment is estimated to account for the largest share in the probiotics market in 2018. The products under this category include foods & beverages that offer distinct health benefits beyond fundamental nutrition, due to their specific ingredients. The food & beverages segment is the largest revenue-earning market across regions.

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“ Liquid probiotics are expected to dominate the global market.”

The demand for liquid probiotics has increased as compared to dry probiotics, due to its application in yogurt, which is the most popular source of probiotics. Other products that use liquid probiotics include kefir water, probiotic juices, and yogurt-based drinks, which are healthy options for daily supplementation.

The global isoflavones market is estimated to be valued at USD 1.2 billion in 2019 and is projected to grow at a CAGR of 4.7% to reach USD 1.5 billion during the forecast period. Growth in this industry is driven by the increasing incidences of chronic diseases, rising prevalence of cancer, technological advancements in the manufacturing of isoflavones, the rapidly increasing geriatric population and so on.

By Source, the soy segment is expected to lead the isoflavones market.

Prominent dietary sources of isoflavones include soy milk and plant-based alternatives. Several calcium-fortified soy drinks that are rich in fiber and proteins are given preference in countries such as Germany, France, and Switzerland. The consumption of soy isoflavones as food ingredients or food supplements reduces the risk of breast cancer and growth of cancer cells by reducing the cell mitosis process, which fuels the demand for soy as a major source of isoflavones.

By application, the pharmaceutical segment is projected to account for the largest share during the forecast period.

Based on application, the isoflavones market is segmented into pharmaceuticals, nutraceuticals, cosmetics, and food & beverages. The pharmaceuticals segment accounted for the largest share, owing to its therapeutic and functional properties; isoflavones are used in the treatment for chronic and cardiovascular diseases.

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Key players in isoflavone market include Cargill (Germany), ADM (US), BASF (Germany), DSM (Netherlands), International Flavors and Fragrances (Frutarom) (US), Shanghai Freemen (US), Nexira Inc. (France), Bio-gen Extracts, Sikko Industries, SK Bioland (South Korea), BioMax (India), Avestia Pharma (India), NutraScience Labs (US), Tradichem S.L. (Spain), Nutra Green Biotechnology (China), Herbo Nutra (India), FutureCeuticals Inc. (US), Bio-gen Extracts (US), Xena Bio Herbals Pvt. Ltd. (India), Sikko Industries (India), Biomax (India), and Lactonova (India).

North America to lead the market during the forecast period.

The North American region accounted for the largest share of the isoflavones market. Increasing cases of obesity in North America increase the focus on weight management techniques & attracting consumers toward healthy and natural food products with natural ingredients, thereby propelling the demand for isoflavones in the region.

Market Dynamics

Driver: Prevalence of menopausal issues
Women in their menopause stage experience various issues such as hot flashes, insomnia, and, in numerous cases, sexual dysfunction. Many women prefer supplements containing estrogen, which may significantly increase the risk of blood clots, stroke, or breast or uterine cancer. Thus, estrogen may not be an option for many women, depending on their health and family health history. Women are currently inclining toward supplements with naturally therapeutic ingredients to manage their menopause symptoms with fewer risks. In response to such changing preferences of women, supplement manufacturers have turned to natural alternatives. They have started utilizing soy isoflavones instead of estrogen, as it mimics the estrogen characteristics and provides estrogen effects that aid in reducing menopausal symptoms such as hot flashes and fatigue.

Owing to the rising issues related to menopause and women’s inclination toward supplements with natural alternatives, the demand for isoflavones from the nutraceutical industry is projected to grow in the coming years

Restraint: Stringent regulatory requirements
Isoflavones come under the active pharmaceutical ingredient (API) category; hence, manufacturers have to follow the rules and regulations imposed for all API products.

Pharmaceutical API manufacturers across the globe are witnessing a rise in the demand for APIs, which results in a positive outlook for the market. However, the increasing stringency of regulations is considered as a major restraint that may limit the growth prospects of the market. According to the report, “Fine chemicals stringent regulations prompt return of manufacturing to the west,” published by IHS Chemical Week in January 2015, the demand for APIs is expected to grow at a consistent rate, while the supply of APIs manufactured with international Good Manufacturing Practice (GMP) standards and world-class documentation is not keeping pace with this demand.

Opportunity:Emerging technologies
Some of the recent advancements in drug development include the use of nanotechnology for the synthesis of APIs. The emergence of nanoparticle technologies for efficient delivery of APIs shows promising potential as a novel and efficient approach.

Nanobodies are similar to single-domain antibodies that can bind to specific antigens; however, they are much smaller in size than antibodies. Nanobodies are rapidly becoming an attractive technology platform for pharmaceutical development. Chitosan and Eudragit nanoparticles of Genistein, the predominant isoflavone found in soy products for cancer therapy, have been significantly evaluated for the treatment of chronic diseases in the past few years. The delivery of Genistein-loaded Chitosan and Eudragit S100 loaded polymeric nanoparticles has proven to be a feasible approach to treat cancer.

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Similarly, bispecific antibodies, which can bind to two different epitopes either on the same or different target, are attracting the attention of market players. Such emerging technologies have the potential to create attractive opportunities for market players.

Challenge: Less efficiency compared to alternatives
Soy isoflavones can take several weeks or more to reach their maximal benefit. For example, as per Healthline Media (US), a 2015 review found that soy isoflavones take more than 13 weeks to reach just half of their maximum effect. Traditional hormones such as estrogen therapy, on the other hand, take about three weeks to show the same benefit. However, possible adverse effects such as heart attacks and strokes associated with conventional estrogen therapy are projected to enable pharmaceutical and nutraceutical manufacturers to opt for isoflavones derived from natural resources.

The report "Feed Processing Market by Type (Cleaning & Sorting, Grinding, Mixing, Conditioning & Expanding, Dosing & Batching, Pelleting, Extrusion), Mode of Operation, Livestock, Form of Feed, and Region - Global Forecast to 2023", The feed processing market is estimated at USD 21.61 Billion in 2018 and is projected to reach USD 26.62 Billion by 2023, growing at a CAGR of 4.3% during the forecast period. The market is driven by factors such as the rising awareness of feed nutrition and health, technological advancements in the equipment industry, customized services, and increase in the demand for feed around the world.

Based on type, the testing & analysis segment is projected to grow at the highest CAGR from 2018 to 2023. The need to understand the composition of feed was driven by the demand for balanced feed and improved additives from the stakeholders in the feed industry. Several advanced rapid analytical methods and technologies have been developed to conduct a wide range of tests and analyses of animal feed, which include pathogen testing, fat & oil analysis, mycotoxin analysis, nutritional labeling, and pesticide testing.

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The pellets segment, by form of feed, accounted for the largest share of the global feed processing market in 2017. Pelleting is subsegmented into pellet mills, pellet crumblers, and others (block presses and feeders). Pellet feed is made from the mash, which is heated and compressed into a pellet, whereas crumbles are mostly made from whole pellets, which are cracked or rolled into a smaller size.

One of the major restraining factors for the growth of the feed processing market is market consolidation. For instance, in December 2017, Pavan Group was acquired by GEA Group AG (Germany) in Italy. This acquisition enabled GEA in extending its technological portfolio by adopting extrusion and milling technologies for processed food and feed products.

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Companies such as Andritz (Austria), Buhler (Switzerland), Pavan (Italy), Clextral (France), and Muyang (China) collectively account for a share of more than half of the feed processing market. These companies have a strong presence in Europe and the Rest of the world (RoW). They also have manufacturing facilities across these regions and a strong distribution network.