Research Reports And Consulting

The report "Stevia Market by Extract Type (Whole Leaf, Powdered, Liquid), Application (Dairy, Bakery & Confectionery, Tabletop Sweeteners, Beverages, Convenience Foods), Form (Dry, Liquid), and Region - Global Forecasts to 2022", The market for stevia is projected to grow at a CAGR of 9.5% from 2017 to reach a value of USD 771.5 Million by 2022.

Stevia has its own unique taste profile and sweetness intensity which is approximately 200 to 350 times greater than regular sugar. Many food & beverage companies use stevia to create products with enhanced taste and fewer total calories. With heavy investment in R&D, new applications such as zero-calorie products and flavor enhancers are emerging rapidly. Stevia offers several advantages such as sugar preplacement, reduction in calories, sweetness, texture, color, and flavor enhancement. Hence, stevia will be viewed as a business opportunity in the next five years. As a result, many multinational players have entered into the production of varied types of stevia.

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Market Dynamics

Growing concerns with regard to sugar, high-fructose corn syrup, and aspartame have shifted the manufacturer’s focus to the usage of stevia for food & beverage applications

Dairy: Stevia is used as an alternative for sucrose

The dairy industry has been strongly influenced by the advantages of using stevia. In an effort to reduce childhood obesity and boost milk sales, the International Dairy Association (IDEA) and the National Milk Producers Federation (NMPF) petitioned the FDA to change the definition of “milk” and 17 other dairy products, including sour cream and yogurt. This change would allow the dairy industry to add aspartame and other sweeteners such as stevia to products without including prominent labels for consumers.

Bakery & confectionery products: Stevia has numerous benefits in confectionery products due to its physical and chemical properties

The most commonly used sweeteners, sucrose, dextrose (glucose), and corn syrups are fundamental in the production of confectionery items such as hard candy, caramel, taffy, chewing gum, chocolate, and gummed candies. In addition to their function in these items, they are widely used due to their low cost, availability, and ease of use during processing. The formulations of many sweetened confections are centered on the properties of stevia. Depending on the confection, stevia helps provide sweetness, improved mouthfeel, crystallization, texture, form, extended shelf life, flavor, and color to the final product.

Tabletop sweeteners: Acts as a natural sweetener and low-calorie alternative to sugar and other artificial sweeteners

Stevia is used as a substitute for sugar to add natural sweetness to hot or cold beverages, to be sprinkled on fruits, or for use in several cooking and baking recipes. Stevia, as a tabletop sweetener, is a source of sweetness 200–300 times sweeter than sugar and is suitable for diabetics and people suffering from phenylketonuria. Natuvia by PureCircle, SteviaFirst Corp, and Truvia are some of the commonly known brands of stevia as a tabletop sweetener.

Beverages: Imparts health benefits to zero- or low-calorie beverages

Alternative sweeteners such as stevia are essential as they provide and expand beverage choices to control caloric, carbohydrate, or specific sugar intake. In case of beverages, stevia is the most preferred option as the bulking properties provided by sugar are not required. Stevia is one of the most common natural sweeteners used for zero- or low-calorie beverages. It is mostly used in beverages such as diet carbonated drinks, flavored water, soft drinks, fruit juices, ready-to-drink beverages, and sports & energy drinks.

Convenience foods: Enhances the properties of food products

Stability, texture, sweetness, and mouthfeel of convenience food are essential factors that appeal to consumers. The other important factors that are essential to enhance the product appeal include shelf-stability, proper shape, color, taste, flavor, volume, and consistency. Stevia blends help to impart these properties to the food product without impacting its quality and its appeal to the consumers. Leading food ingredient manufacturers offer a broad range of stevia blends to meet these requirements.

The Asia Pacific region accounted for the largest market share for stevia, followed by North America and RoW. With a population of more than 4.2 billion and rising income of consumers, stevia sweeteners are projected to witness an increase in the customer base in the Asia Pacific as it is an important segment of the sweeteners industry. The Asia-Pacific region is projected to be the fastest-growing market, with investments from several multinational manufacturers, particularly in countries such as Japan, China, and India.

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The stevia market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted strategies such as acquisitions & mergers, new product developments, and expansion & investments. Prominent players profiled in the report include Cargill (US), Ingredion Inc. (US), PureCircle Ltd. (Malaysia), and Tate & Lyle PLC (UK).

The report "Feed Flavors and Sweeteners Market by Type (Feed Flavors and Feed Sweeteners), Livestock (Ruminants, Swine, Poultry, Aquatic Animals), Form (Dry and Liquid), Source (Natural and Synthetic) and Region - Global Forecast to 2022", The feed flavors & sweeteners market is estimated to value at USD 1,236.1 Million in 2017. It is further projected to reach a value of USD 1,463.0 Million by 2022, at a CAGR of 3.4% from 2017. The market is driven by factors such as increasing demand for palatability boosting ingredients, growing meat and dairy products industries, and increasing awareness of consumers towards quality meat products. Additionally, the implementation of innovative husbandry practices to improve quality of meat product provide feed flavors and sweeteners producers and distributors with lucrative opportunities.

Market Dynamics

Driver: Increasing awareness of consumers towards quality meat products

Consumers all over the globe are increasingly demanding quality meat due to the growing awareness regarding the nutritional dynamics of these products. According to The Food and Agriculture Organization (FAO), animals provide over 33% of protein consumed in human diets and around 16% of food energy. Besides, income growth, urbanization, and changes in lifestyles are the major factors impacting the demand for high-quality food. Consumers are now becoming more aware of the quality of food they consume, and the benefits associated with food products. As a result, the production of healthy and quality livestock has become important, leading to the surge in demand for quality feed with better palatability. Therefore, flavors and sweeteners products are anticipated to experience a robust demand in coming years.

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Owing to the consumers’ rising demand for superior-quality meat products, high-end food service sector and supermarkets offering premium brands are now constantly demanding quality meat. This factor instigated livestock producers to provide quality and healthy livestock in order to satisfy the quality standards required by various food players and different markets across the globe. According to The Australian Competition and Consumer Commission (ACCC), “Exports to the European Union are largely high-quality products servicing the high-end food service sector and premium supermarket brands. The need to meet quality and import requirements results in processors sourcing cattle against stringent specifications. These import and quality requirements also mean that cattle producers specialize in preparing animals for the EU market to a certain extent.” To be able to fulfill such quality standards, livestock producers all over the world are emphasizing on animal diet as well as on food additives that increase the feed intake of livestock.

Restraints: Lack of awareness in developing countries

The livestock sector is still evolving in developing countries such as Argentina, India and Brazil. However, a majority of these countries still depend on forages, crop residue, and open grazing to feed the livestock and do not emphasize on the feed quality or palatability. According to the Planning Commission of India (now replaced by successor think tank National Institution for Transforming India), “only about half of the annual fodder requirement is met from the cultivated fodder and crop residues, whereas open grazing and fodder availability from common property resources like forests, pastures, village commons, etc. fulfills the remaining half of the annual fodder requirement.” These conventional methods of feeding animals restrict the growth of the commercial animal feed industry and thereby the growth of the animal feed additives market. Livestock producers and farmers in these countries are still unaware regarding feed additives such as flavors and sweeteners and benefits associated with them. Highly populous and rapidly developing countries, such as India, where livestock production is a major part of agriculture economy are yet to evolve in terms of modern feed additives solution. Nevertheless, better promotional and educational activities about the benefits of flavors and sweeteners products may create huge potential for palatable feed additives in these countries.

Opportunity: Implementation of standardized and commercial husbandry practices to improve the quality of meat products

The rising meat consumption along with growing demand for quality meat products has increased the importance of quality feed as well as better and palatable feed additives in the livestock industry. Increase in the per capita income, improved standard of living, and rise in awareness towards better health has subsequently resulted into the increased demand for quality protein food sources such as meat and other animal-based products. In response to the growing demand for these products, standardized and commercial animal husbandry techniques and practices came into existence and are widely being adopted all over the globe. Better hygiene, animal health programs, and provision of premium quality animal feed with better taste and texture are some of the important factors that are emphasized by these husbandries so that quality meat and dairy products will be produced pertaining to the standards set by regulatory bodies.

Government monitoring agencies such as the U.S. Food and Drug Administration (USFDA) and European Food Safety Authority have imposed rules regarding the quality of food that is to be delivered to consumers. According to the FDA, meat composition, fat content, color, flavor, and protein content are some of the attributes that define the quality of meat. Hence, to fulfill these quality standards and to produce healthy livestock, a huge demand for effective and palatability enhancing feed ingredients is observed from several husbandries and commercial farms. Thus, increasing number of standardized husbandries and commercial farms are anticipated to build new opportunities for feed flavors and sweeteners players.

Challenge: Fluctuating price of raw materials

The fluctuating price of raw materials is the major challenge being faced by feed flavors and sweeteners players. The prices of raw materials such as citrus fruits and butter are highly unstable, which result in the high cost of production and impacts the prices of the final products. Citrus flavored feeds are majorly consumed by livestock animals compared to other flavors, and therefore they are demanded by livestock producers. However, the fluctuation in the prices of citrus fruits such as orange and grapefruit has been a significant challenge for animal feed flavor producers and has been impacting the price of final citrus flavor feed products.

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Nutriad International Dendermonde (Belgium), and Pancosma (Switzerland), Alltech (U.S.), FeedStimulants (Netherlands) and BIOMIN Holding GmbH (Austria), DuPont (US), Norel S.A. (Spain) and Prinova Group LLC (US), Agri-Flavors, Inc. (US), Origination O2D, Inc. (US), Kerry Group Plc (Ireland) and Pestell Minerals & Ingredients Inc. (Canada).

Nutriad International Dendermonde (Belgium), and Pancosma (Switzerland) are the visionary leaders in the animal feed flavors and sweeteners market. These players have broad product offerings that cater to most of the regions, globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

The organic fertilizers market is projected to reach a value of USD 11.16 billion by 2022, at a CAGR of 12.08% from 2017 to 2022. The market is driven by factors such as increasing land area under organic cultivation and advancements in organic fertilizers’ manufacturing process. Increasing size of potential consumer base, which drives the demand for organic fertilizers through organic food consumption present organic fertilizers providers with lucrative opportunities.

Increase in consumer willingness to spend on organic foods, increasing area under cultivation due to farmers’ preference towards organic cropping owing to favorable pricing of products, and growing agricultural land area under organic cultivation is expected to change the business landscape over the next five years.

On the basis of source, the animal segment is projected to be the fastest-growing segment during the forecast period. The awareness about the nutritional benefits of the animal-based organic fertilizers has resulted in an increased usage of these fertilizers in the recent years.

On the basis of crop type, the fruits & vegetables segment is estimated to be the fastest-growing segment during the forecast period. As the demand for organic fruits & vegetables is increasing, growers need to produce more in the limited organic land area, owing to which the application of organic fertilizers in fruits & vegetables is increasing.

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On the basis of form, the dry segment is the most widely used form in the global organic fertilizers market while liquid projected to be the faster-growing segment. Liquid fertilizers have the characteristic of rapid absorbability by soil, which in turn ensures that nutrients reach crops faster than other forms of fertilizers. Such benefits have resulted in new opportunities for the organic fertilizers industry.

The fastest-growing market for organic fertilizers is projected to be Asia-Pacific between 2017 and 2022. Agriculture is one of the major occupations in the Asia-Pacific region; a number of farmers in the region are engaged in agriculture with more than 26 million hectares of organic land, thereby leading to an increased demand for organic fertilizers for higher quality & safe organic foods.

Prominent players in this market are Tata Chemicals Ltd (India), The Scotts Miracle-Gro Company (U.S.), Coromandel International Limited (India), National Fertilizers Limited (India) and Krishak Bharati Cooperative Limited (India). Other significant players include Midwestern BioAg (U.S.), Italpollina SpA (Italy), ILSA S.p.A (Italy), Perfect Blend, LLC (U.S.), and Sustane Natural Fertilizer, Inc. (U.S.).

These players have adopted various strategies such as mergers & acquisitions, expansions, and agreements, to strengthen their geographical reach in the organic fertilizers market. The major opportunities in the organic fertilizers market include increasing the size of the potential consumer base, which drives the demand for organic fertilizers through organic food consumption. These opportunities have induced the fertilizer manufacturers to use and manufacture new and better quality organic fertilizers products.

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The report "Fat Replacers Market by Type (Carbohydrate-based, Protein-based, Lipid-based), Application (Bakery & Confectionery, Dairy & Frozen Desserts, Convenience Food & beverages, Sauces, Dressings, and Spreads), Form, Source, and Region - Global Forecast to 2022", The fat replacers market is estimated to be USD 1.48 Billion in 2017, and projected to reach USD 2.01 Billion by 2022, at a CAGR of 6.2% from 2017. The market is driven by factors such as increase in awareness about health & wellness and the rise in prevalence of obesity.

The global fat replacers market was dominated by North America in 2016. Asia Pacific is projected to be the fastest-growing market from 2017 to 2022. The change in consumers’ eating habits in terms of western cuisine, as well as the growth in the processed food industry, has led to the need for fat replacers.

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The global fat replacers market is characterized by moderate to low competition. Expansions & new product launches are the key strategies adopted by the key market players to ensure their growth in the market. The market is dominated by players such as ADM (US), DuPont (US), Cargill (US), Kerry Group (Ireland), FMC Corporation (US), Ingredion (US), Koninklijke DSM (Netherlands), and Ashland Inc (US).

Archer Daniels Midland Company (US)

ADM is a key player in the agriculture and food processing industry. It is engaged in the production of food ingredients, animal feed & feed ingredients, and biofuels. Its three business segments include oilseed processing, corn processing, and agricultural services. In the fat replacers market, ADM has a strong presence in Europe and North America.

It strives to enter and expand its business in the fat replacers market through efficient research & development, which has helped the company to offer innovative products to enhance its product line. This has resulted in sufficient profit generation. Additionally, its expansion and investment strategies have helped it to maintain its market position among competitors. For instance, in September 2015, the company set up a new innovation center in Kentucky, US, which will help the company enhance its information technology and support.

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Cargill (US)

Cargill offers products for industries such as food, agriculture, financial & industrial, pharmaceutical, and personal care products & services with more than 150 years of industry experience. The company is established as an international food conglomerate, with its wide range of offerings covering most of the sectors of the food & beverage industry. Cargill is one of the major players in the fat replacers market. It has a wide portfolio of products in the food industry, such as convenience foods and bakery products. The company focuses on expansions and new product launches to grow its geographic presence in untapped areas. For instance, in November 2015, it launched C¡ÙCreamTex 06329, a modified starch specifically designed to improve the texture and mouthfeel of the finished product.

According to MarketsandMarkets™, the report "Nut Products Market by Product Type (Nut Butter, Nut Paste/Marzipan Paste/Persipan Paste, Nut Fillings with Cocoa, Nut Fillings without Cocoa, Caramelized Nuts, and Nut Flour), Nut Type, End User/Application, Quality and Region – Global Forecast to 2025", size is estimated to be valued at USD 1.5 billion in 2020 and is projected to reach USD 2.0 billion by 2025, recording a CAGR of 5.8%. in terms of value. The robust growth of the nut products market is driven by product innovation in cereals and snack bars, dairy products, confectionery, and savory products. The growth is further complemented by rising health consciousness among consumers and growing disposable income levels, leading to greater purchasing of premium nut-based offerings.

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The nut paste segment is the largest market segment in the nut products market during the forecast period.

Globally, consumers are inclining toward healthier and nutritious options that are plant-based, low-fat., low-sugar, gluten-free, and freem from GMOs. Therefore, products like nut paste has gained more popularity because of its versatility in usage. It in used by many food manufacturers as it can cater to the needs of the consumer. The improving lifestyle of consumers and growing health consciousness encourages marzipan manufacturers around the world to experiment with new flavors and ethnic ingredients to align themselves with consumer preferences.

The almond nut type segment is projected to grow at the fastest rate in the nut products market during the forecast period

Almonds are free from cholesterol and saturated fats, due to which they are beneficial for calorie-conscious individuals. Almond can be processed into various forms namely nut butter, nut paste, nut flour, caramelized nuts and nut fillings. These semi-finished products have numerous applications such as confectionery, beverages, snacks, desserts & ice creams and bakery. For instance, almond flour is popularly used instead of wheat flour in many bakery shops. The market is witnessed significant growth in developed countries, such as the US and Germany, due to the high awareness pertaining to health-based foods products, along with an increase in the food processing sectors.

Browse in-depth TOC on "Nut Products Market"

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The cereals & snack bars segment is projected to witness the fastest growth in the nut products market, 2020 to 2025.

The majority of consumers are inclining toward the cereals & bar category as a convenience health befitting food product. Consumers are considering nuts as the most desired ingredient, as they make a bar crunchier in texture and provide numerous nutrients, and improves taste. There is more scope for innovation, as bars are currently consumed by most of the adults, and breakfast bars or granola bars alone are eaten by major chunk of the people. Owing to these factors, edible nuts are considered as the best ingredient for bars and are constantly experiencing growth.

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The Europe region dominated the nut products market with the largest share in 2019

Consumers in Europe are witnessing a high demand for natural and low-sugar ingredients and food products, resulting in a surge in nut products consumption in the region. As high-fat products are responsible for the occurrence of chronic illnesses, such as obesity and diabetes, food & beverage manufacturers are now focusing on undertaking innovations in the production of various low-fat fortified foods to cater to consumer demands for healthy food & beverage products.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Olam International (Singapore), Barry Callebaut (Switzerland), Blue Diamond Growers (US), Kerry Group (Ireland), Zentis GmbH & Co. KG (Germany), Mount Franklin Foods (US), Mandelin, Inc (US), Bazzini (US), Besana (Italy), Lubeca (Denmark), Puratos (Belgium), Lemke (Germany), Almendras Llopis S.A.U. (Spain), Kanegrade (UK), Moll Marzipan GmBH (Germany), Kondima (Germany), CSM (US), Treehouse Almonds (US), Royal Nut Company (Australia), and Stelliferi & Itavex S.p.A (Italy).

The feed amino acids market is estimated to be valued at USD 5.37 Billion in 2017. It is projected to grow at a CAGR of 4.4% from 2017, to reach a projected value of USD 6.66 Billion by 2022. Feed amino acid products have become prominent in the recent years, owing to the growing awareness among the consumers regarding the impact of quality feed provided to the livestock on animal-based products such as meat and dairy products.

How is the prevalence of bovine spongiform encephalopathy (BSE) presenting growth opportunities for manufacturers in the feed amino acids market?

Traditionally, bone & meat meals were used in feed to provide minerals, proteins, vitamins, and energy. Ruminant’s remains were also fed to cattle that contain a protein named prion. It was found to be the root cause of bovine spongiform encephalopathy (BSE), also known as mad cow disease. The major symptoms of the disease were change in the behavior, aggression toward others, head held low, loss of milk yield, and nervousness. It can be easily transmitted to human beings by the intake of contaminated carcasses. Generally, cattle suffering from this disease lose coordination of their legs and body movement. BSE was first suspected in the UK in 1986, followed by North America, Asia, and Europe. Europe in the nineties was struggling with BSE, which paralyzed the animal industry.

In 1997, the FDA prohibited the usage of mammalian protein in feed given to ruminants due to the tougher hygiene requirement. This forced the dairy farmers to limit the usage of animal protein, such as blood meal in feed, which accelerated the usage of amino acids in ruminant feed. In several countries, food safety laws are implemented to regain consumer trust in the supply chain. Thus, feed amino acids have a good opportunity of becoming an ideal replacement for bone and meat meal.

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Implementation of innovative animal husbandry practices to improve meat quality

With the increase in per capita income, the standard of living has improved. Increase in health awareness has resulted in the demand for quality meat. Recent disease outbreaks in livestock have led to the use of feed amino acids to improve quality. Meat quality is defined by the compositional quality (lean-to-fat ratio) and palatability (appearance, juiciness, tenderness, and flavor). Meat and dairy processors are required to follow the rules related to labeling and packaging of meat & dairy products due to the increase in concerns about E. coli and Salmonella infections. Meat such as lamb and mutton are graded by two USDA grading systems—quality and yield. The purpose of these grading systems is to aid in ranking lambs both as live animals and meat products. These grading systems are useful in pricing as well as marketing.

Government monitoring agencies such as the US Food and Drug Administration (FDA) and European Food Safety Authority (EFSA) have imposed rules regarding the quality of food to be delivered to consumers. Meat composition, fat content, color, flavor, and protein content are some of the attributes that define the quality of meat. These qualities are obtained through the use of feed additives, which include amino acids.

Hence, implementation of new animal husbandry techniques could lead to the production mandate and consumption of better quality meat. This, in turn, is expected to drive the market for feed amino acids.

The feed amino acids supply chain includes companies such as ADM (US), Sumitomo (Japan), Evonik (Germany), CJ CheilJedang (South Korea), Ajinomoto Co., Inc. (Tokyo), Adisseo (China), Phibro (US), Meihua Holdings (China), Kemin (US), Novus (US), Global Bio-Chem (Hong Kong), and Sunrise Nutrachem (China). The feed amino acids supplied by these companies are used in feed products that are served to various livestock types such as ruminants, swine, poultry, pets, equine, and aquatic animals.

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Asia Pacific is projected to be the fastest-growing market during the forecast period, due to the continuous modernization of animal production techniques and the growing awareness among the consumers regarding the impact of quality feed provided to the livestock on animal-based products such as meat and dairy products. However, conventional methods of feeding animals such as forages, crop residue, and open grazing may restrict the growth of the commercial animal feed industry, and subsequently restrain the growth of the feed amino acids market in this region. The other restraints of the feed amino acids market include alternative protein sources and stringent regulatory framework.

The refrigerated warehousing market is estimated to be valued at 17.98 billion in 2017 and is projected to grow at a CAGR of 10.2%, to reach USD 29.17 billion by 2022. The refrigerated warehousing market is driven by the rise in consumer demand for perishable foods such as fruits & vegetables, and meat, seafood, and dairy products. The rapid economic growth in countries such as China, India, and Australia & New Zealand has led consumers to opt for convenience foods. This, in turn, is increasing the demand for refrigerated warehousing, making Asia Pacific the fastest-growing region in the world. Expansion of retail channels in the form of supermarkets, hypermarkets, and convenience stores has further increased the importance of the refrigerated warehousing market.

Governments in several countries are taking initiatives to reduce food and agricultural waste by framing food wastage policies and supporting the food-related industries by setting up refrigerated warehousing facilities. For instance, the Canadian Food Safety and Quality Program (CFSQP) invested USD 49.7 million in the food industry for setting up refrigerated warehousing facilities.

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However, high energy consumption and infrastructure costs are expected to restrain the market growth over the next few years, especially in developing countries such as China, India, and Brazil where frequent power cuts are a major issue.

Based on technology, the blast freezing segment is projected to grow at the highest CAGR from 2017 to 2022. Blast freezing is the most versatile method for freezing seafood, meat, and other food products. This technology ensures increased control and protection from bacteria, preserves the nutrients of the food products, and is one of the most cost-effective methods for storing food products over a long period of time.
Based on temperature, the frozen segment is projected to grow at a higher CAGR during the forecast period. The frozen segment accounted for a larger market share as perishable food products such as meat, fish, and seafood require frozen temperature for storage.

Based on application, the fruits & vegetables segment is projected to grow at the highest CAGR through 2022, making it a key revenue pocket for the refrigerated warehousing industry players. Freezing fruits & vegetables helps retain their nutritional composition. Also, deep-frozen vegetables do not need tedious cleaning or cutting.

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Asia Pacific is projected to grow at the highest CAGR from 2017 to 2022, owing to rise in disposable income and increasing food wastage awareness. The major countries that contribute significantly to the growth of the Asia Pacific region are China, Japan, India, and Australia & New Zealand.
The expansion of supermarkets and quick-service restaurants due to the consumption of fast foods in countries such as India, Australia, and New Zealand is further expected to boost the refrigerated warehousing market.

The industrial margarine market is estimated at USD 2.25 billion in 2017 and is projected to reach a value of USD 2.66 billion by 2022, at a CAGR of 3.5% from 2017 to 2022. The market is segmented on the basis of application, type, source, form, and region. The types of industrial margarine include spreadable, all purpose, and butter blend. On the basis of application, the market is segmented into bakery; spreads, sauces, and toppings; confectionery, convenience food, and others (desserts & snacks). The market has also been segmented on the basis of form into hard and soft. The market has been segmented on the basis of source into plant and animal. On the basis of key regions, the industrial margarine market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).

The industrial margarine market is driven by factors such as changing consumer preferences toward low-calorie and low-fat alternatives for butter and oil, which subsequently drives the industrial margarine market.
Based on source, margarine sourced from plants is projected to grow at the highest CAGR during the forecast period. Plants such as safflower, corn, cottonseed, soybean, sunflower, coconut oil, palm oil, rapeseed oil, and canola oil, among others are used for manufacturing margarine. In Asian countries such as India, due to the large vegetarian population, Indian margarine manufacturers prefer processing it from plants. Companies such as Vandemoortele (Belgium), Bunge (US), and Fuji Oil (Japan) produce margarine from plant sources.

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The Asia Pacific region is expected to be the fastest-growing market for industrial margarine from 2017 to 2022. Key markets in the Asia Pacific region include China, India, Japan, and Australia. The major driving factors for industrial margarine is its vast areas of agriculture and the production of plants for palm oil and sunflower oil as they are the primarily used as raw materials for producing margarine.

The key market players adopted various growth strategies such as acquisitions, expansions, and joint ventures in order to cater to the increasing demand for industrial margarine. The companies in this market focus on increasing their research & development expenditure to expand their manufacturing capacities and innovate new margarine products.
The core strengths of the key players in this market are acquisitions and expansions, which help enhance their presence in the industrial margarine market. The companies are adopting new technologies to create nutrient fortified industrial margarine to match the requirements of food companies. Companies such as Vandemoortele (Belgium), Bunge (US), Puratos (Belgium), and EFCO Group (Russia) are expanding their production facilities as well as their R&D divisions for developing nutrient fortified industrial margarine. These companies also focus on offering a diverse range of industrial margarine for the bakery and confectionery industries.

Bunge (US) has been one of the major players in the global industrial margarine market. It has its customer base across the Asia Pacific, African, Middle Eastern, European, Caribbean, Central American, North American, and South American regions. The company has been focusing on inorganic growth strategies such as joint ventures; for instance, in July 2016, Bunge entered into a joint venture with Wilmar International Limited (Singapore) to increase its operations and logistics in the Asian region.

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Puratos (Belgium) strengthened its position in the industrial margarine market mainly through acquisitions. In November 2017, Puratos acquired Pennant Ingredients (US); this acquisition would help Puratos increase its business in the foodservice industry in North America. In February 2017, the company acquired Diamant (Austria) to expand its business in Austria and strengthen its position in Central & Eastern Europe.

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

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By growing system, the hydroponics segment is estimated to account for a larger market share, in terms of value, in 2020

Hydroponics technology offers many benefits, including no use of soil and low cost of water, as the water remains in the system and can be reused. The nutrition levels can entirely be controlled, resulting in lower nutrient cost with stable and high yield. Hydroponics need a continuous flow of nutrients to prevent drying out of the roots, as they lack a medium to store water and nutrients.

The glass or poly house segment, on the basis of facility type, is estimated to hold the largest share in the indoor farming technology market, in terms of value, in 2020

Glass or poly greenhouses comprise an enclosed structure that is transparent and made of glass or a polycarbonate material. Greenhouses that are made of glass are more aesthetically appealing, have better clarity & light transmission, and can withstand heavy winds. On the other hand, polycarbonate greenhouses have good thermal efficiency, which helps keep the climate inside the greenhouse warm during the night. It also provides better protection from frost and is less expensive compared to glass. These greenhouses are generally used to cultivate tomatoes, potatoes, and cucumbers.

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By component, the software & services segment is estimated to account for a significant market share, in terms of value, in 2020

By component, the software & services segment is growing at a fast pace. The farming industry has been adopting farm management solutions rapidly and is expected to constantly grow in the upcoming years as well. Farm management software includes various types such as record keeping, farm mapping, monitoring & forecasting, farm economics, resource & inventory management, and others. The applications include customer management, payables, receivables, resources & inventory management profit center, and tax management. Some of the major companies that offer software are FARMSIGHT by Deere & Company and FarmWorks Mapping among others

The fruits & vegetables segment, on the basis of crop type, is estimated to hold the largest share in the indoor farming technology market, in terms of value, in 2020

The consumption of fruits has witnessed an overall double-digit growth in the last few decades, and this trend is expected to continue over the next few years. The high demand for fruits & vegetables has encouraged farmers to produce higher and better yields, owing to which they adopt modern and high-end technologies. For this study, fruits & vegetables comprise leafy greens, tomatoes, strawberries, eggplants, and other crops. Fruits & vegetables form an important segment of the indoor farming technology market since advanced greenhouse methods and technologies are used on a large scale to grow the produce throughout the year. Using indoor vertical farms for the production of fruits & vegetables, more outdoor area is made available for the production of cereals and fodder crops.

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Europe is projected to dominate the majority market share, in the global indoor farming technology market, in terms of value, in 2020

Europe dominated the indoor farming technology market and is growing at a steady CAGR during the forecast period. Recently, the interest in indoor farming has been growing across all major European cities. In response to the growing demand for food, rapid urbanization, and increasing need for new productive soils, indoor farming is expected to be a leading farming technology and a financially viable solution. Indoor farming could play an important role in contributing to urban food security and enabling year-round production in Europe. The European Environment Agency (EEA) is building indoor farms to overcome challenges such as climate changes, continuous population growth, and producing food in a more environment-friendly manner.

According to national government statistics, the adoption of hydroponics has been witnessed to be the highest across all European countries. The Netherlands has the world's highest adoption rate for hydroponic systems of over 80%, majorly for its flowers and vegetable production. In contrast, Spain, France, Greece, and Poland have around 20% adoption for hydroponic systems. Across all European countries, tomatoes and peppers are the major cultivated crops, while berry and melon are majorly cultivated using traditional soil-based greenhouses. Flower production has been high across European countries, majorly the Netherlands and Poland, where flowers have a higher economic value.

Key Players:

This report includes a study on the marketing and development strategies, along with a survey of the product portfolios of the leading companies operating in the indoor farming technology market. It includes the profiles of leading companies, such as Signify Holding (Netherlands), Everlight Electronics (China), Argus Control Systems (Canada), LumiGrow (US), Netafim (Israel), Logiqs (Netherlands), Illumitex (US), Hydrodynamics International (US), American Hydroponics (US), Richel Group (France), Vertical Farm Systems (Australia), General Hydroponics (US), Agrilution (Germany), Heliospectra AB (Sweden), Scotts Miracle Gro (US), Hydroponics System International (Spain), Advanced Nutrients (US), Emerald Harvest (US), VitaLink (UK), and Grobo (US).

Irrigation controllers play an important role in water conservation and irrigation management. On the basis of type, irrigation controllers are mainly classified into weather-based controllers and sensor-based controllers. Weather-based controllers use Cloud-based data; wherein sensor-based controllers use real-time data captured from soil moisture. Rising number of golf courses as well as greenhouses, which require controllers to minimize the water usage, lead to an increased demand for irrigation controllers.

The global irrigation controllers market is estimated to be valued at USD 529.2 million in 2017 and is projected to reach USD 1,186.6 million by 2022, at a CAGR of 17.53% during the forecast period. Based on irrigation type, the irrigation controllers market is segmented into smart controllers, tap times, and basic controllers. Currently, the irrigation controllers market is gaining momentum due to increased demand for smart irrigation controllers in Asia Pacific and South America as a result of the growing awareness of water conservation and increasing technological developments.

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The irrigation controllers market, on the basis of application, is segmented into non-agriculture and agriculture. Non-agriculture is further segmented into sports grounds/golf courses, residential, and others which include pastures, parks, school or university campuses, industrial commercial buildings, and cemeteries. Increasing number of golf courses and sports grounds globally are driving the irrigation controllers market. In agriculture, increasing number of greenhouses drives the market for irrigation controllers globally. The use of irrigation controllers in residential lawns and gardens is also responsible for driving the irrigation controllers market.

The irrigation controllers market, by irrigation type, is further segmented into drip/trickle and sprinkler. Drip/trickle irrigation is used for surface as well as sub-surface irrigation. Increasing awareness of water conservation is driving the market for drip/trickle irrigation, which, in turn, drives the demand for irrigation controllers.

North America accounted for the largest share of the global irrigation controllers market in 2016. The Asia Pacific market is projected to grow at the highest CAGR in terms of value from 2017 to 2022. China accounted for the largest country-wise market share in the Asia Pacific irrigation controllers market in 2016, followed by Australia & New Zealand. The shift from flood irrigation to mechanized irrigation in countries such as India and China drives the irrigation controllers market in the region. Advancements in communication technologies for irrigation acts as an opportunity for global and domestic players.

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The global market for irrigation controllers is dominated by large players such as Valmont Industries (US), Lindsay Corporation (US), Toro (US), Hunter Industries (US), and Rain Bird (US). HydroPoint Data Systems (US), Netafim (Israel), Calsense (US), Glacon (Israel), Rachio (US), Weathermatic (US), Green IQ (Israel), and Nelson Irrigation (US) are a few other key market players that also have a significant share in the irrigation controllers market.

The report "Microencapsulated Pesticides Market by Type (Herbicides, Insecticides, Fungicides, and Rodenticides), Technology (Physical, Physico-chemical, and Chemical), Application Sector (Agricultural and Non-agricultural), and Region - Global Forecast to 2022", The microencapsulated pesticides market is projected to reach USD 539.5 Million by 2022, at a CAGR of 11.54% from USD 312.5 Million 2017. As microencapsulation ensures controlled delivery of a limited amount of active ingredients and has an effective action against the targeted pests, its use is expected to reduce environmental and health risks to the applicators, and in turn, is projected to have a strong influence in the meat in the next five years.

The market, based on type, has been segmented into herbicides, insecticides, fungicides, and rodenticides. The research & development of microencapsulated pesticides has been mainly concentrated on insecticides. Due to this trend and the registration & commercialization of new varieties of microencapsulated insecticides, the insecticide segment was estimated to account for a large share in the market in 2017.

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The market, by technology, has been segmented into physical, physico-chemical, and chemical. The interfacial polymerization technology is widely being used for encapsulation of highly toxic pesticides such as insecticides and herbicides; owing to these reasons, chemical processes accounted for the largest share, in terms of value, in 2016.

The microencapsulated pesticides market, by application, has been segmented into agricultural and non-agricultural sectors. The agricultural industry dominated market in 2016, due to the increasing demand for microencapsulated pesticides, which help to reduce the application rate by 10-15 times as compared to traditional formulations such as emulsifiable concentrates and suspension concentrates.

Europe accounted for the largest market share in 2016, and is also projected to be fastest-growing in the microencapsulated pesticides market in the next five years. The dominant share of the European region is attributed to the increasing ban on the usage of certain harmful chemicals in European countries, such as France and Germany.

The high production costs and farmers’ reluctance to adopt these novel methods in order to gain effective crop yield have been important restraining factors for the market growth.

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The global market for microencapsulated pesticides is dominated by large-scale players such as BASF (Germany), Bayer AG (Germany), Syngenta (Switzerland), FMC Corporation (US), Monsanto (US), and ADAMA (Israel). BotanoCap (Israel), Arysta LifeScience (US), GAT Microencapsulation (Austria), Reed Pacific (Australia), and Belchim (Belgium) are a few other key market players that also have a significant share in the market.

The global fruit and vegetable seeds market size is estimated to be valued USD 9.8 billion in 2020 and is expected to reach a value of USD 14.4 billion by 2025, growing at a CAGR of 8.2% during the forecast period. The growing demand for high value crops such as tropical fruits and leafy vegetables coupled with the increased demand for organic food products is expected to drive the growth of the market during the forecast period.

COVID-19 Impact on the Fruit and Vegetable Seeds Market

The outbreak of COVID-19 and the measures taken to control the pandemic have a crippling effect on the agriculture sector across the globe. Many countries have adopted several emergency measures to combat the COVID-19 crisis. These measures range from closing borders and public institutions, as well as isolating homes, communities, and the total lockdown of regions and the entire state. These mitigation measures have resulted in various disruptions in the functioning of markets and supply chains for agricultural inputs and products. Seeds are the starting point for agricultural production; therefore, during crises such as the COVID-19 pandemic, seed delivery is among the essential services that must continue to support the current and subsequent production cycles.

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However, issues related to the transportation of seeds either domestically or internationally, due to the reduced number of flights, fewer drivers, and the slow process of the necessary documentation, because of fewer staff, create specific problems for the seed sector. The ornamental crop industry has been severely affected due to the closure of garden centers deemed non-essential services and loss of contracts with supermarkets. The sale of seeds to amateur gardeners has stopped. This will impact some seed suppliers, especially those with left-over stock.

Key players in this market include BASF SE (Germany), Bayer AG (Germany), Groupe Limagrain (France)Corteva Agriscience (US), Syngenta Group (Switzerland), and Sakata Seed Corporation (Japan).

New product launches and partnerships were the key strategies adopted by the leading players in the fruit & vegetable seeds market with a view to improve their product line and presence in the market.

BASF SE (Germany) BASF SE is a chemical manufacturing company operating in the market segments of chemicals, performance products, functional materials & solutions, agricultural solutions, and oil & gas. BASF has 12 operating divisions with 86 strategic business units. The company provides a wide range of certified fruit & vegetable seeds and has constantly been investing in research of better-quality seeds. The company has been one of the pioneers in the transgenic and hybrid seeds market, with offerings specific to particular regions. Clearfield, Provisia, and Cultivance are the three main technologies adopted by the company for its seed production, which helps it offer disease-resistant, high-yielding seed varieties. In August 2018, the company acquired Bayer AG’s (Germany) vegetable seeds business which helped in enhancing BASF’s offerings within the segment

The company operates through subsidiaries and joint ventures in more than 90 countries through the functioning of six integrated production sites and 355 other production sites in Europe, Asia, Australia, the Americas, and Africa.

Bayer AG (Germany) Bayer AG is a leading research-intensive company operating in the pharmaceuticals, consumer health, crop science, and animal health segments. The company’s agricultural enterprise, Bayer AG, which operates through four segments—pharmaceuticals, consumer health, crop science, and service functions and other. The company offers fruits and vegetable seeds through its two operating business segments: crop protection/seeds and environmental science. The recent acquisition of Monsanto (US) in June 2018 has boosted Bayer’s agriculture business with innovative solutions in the crop protection and seed manufacturing industries.

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Bayer’s manufacturing facilities operate in 130 sites spread across 34 countries. It has a worldwide sales and distribution network in over 120 countries. Its key locations include Germany, France, Singapore, Brazil, and the US. Its major research centers of the seed units are located in Belgium, the Netherlands, and the US. The company operates through various subsidiaries such as Bayer CropScience Holding SA Lyon (France), Bayer CropScience Holdings Limited Cambridge (UK), Bayer CropScience NV Diegem (Belgium), Bayer CropScience S.r.l (Italy), and Bayer Australia Limited (Australia).