Apple Cider Vinegar Market Size, Share, Segmentation, Revenue and Forecast by 2028

The global food and beverages sector has been solid amid the COVID-19 pandemic backed by the high demand for food items that were added to the list of essential items. In addition, the increasing demand for functional foods during the lockdown period stoked by people’s intention of improving their immunity has given a significant boost to the growth of the market during the pandemic period. Similarly, the apple cider vinegar market has experienced high demand during the initial phase of the COVID-19 era due to high demand for the product, which was stoked by its immunity-boosting properties.

The global apple cider vinegar market size is projected to reach USD 789.37 million by 2028, exhibiting a CAGR of 4.5% during the forecast period. Fortune Business Insights™ shares this information in its report, titled “Apple Cider Vinegar Market Size, Share & COVID-19 Impact Analysis, By Source (Organic and Conventional), By Form (Liquid and Tablet),By Distribution Channel (Hypermarkets/Supermarkets, Online Channels, Traditional Grocery Stores, and Others) and Regional Forecast, 2021-2028”. As per the report, the value of the market stood at USD 561.57 million in 2020. Various enterprises operating in the food and beverages space are leveraging the health benefits of ACV to attain a new customer base. They are using vinegar as a key ingredient for developing their products. For instance, Be Gud beverages, a health and wellness company based in Florida, two new flavor-infused shots of ACV.

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List of the Leading Companies Profiled in the Global Apple Cider Vinegar Market are:

• Barnes Naturals Pty Ltd (Maryborough, Australia)
• Carl Kuhne KG (Hamburg, Germany)
• Molson Coors Beverage Company (Chicago, U.S.)
• Global Export Marketing Co. Ltd (American Garden) (New York, U.S.)
• Swander Pace Capital (Bragg) (San Francisco, U.S.)
• Manzana Products Co. Inc. (Sebastopol, U.S.)
• NOW Health Group Inc. (Bloomingdale, U.S.)
• Mizkan America, Inc. (Mount Prospect, U.S.)
• Stonewall Kitchen (York, U.S.)
• Lost Coast Food Co. Ltd. (London, UK)

 What Does the Research Report Offer?

The report comprises a detailed analysis of the various drivers and restraints affecting the demand and supply of the market. In addition to this, it includes insights into the various segments and their current holdings in the market. Apart from this, the report also provides regional analysis based on our research on key geographic locations along with details on the strategies adopted by the key market players.

Driving factor

Increasing Adoption of Superfoods to Drive Growth

Growing health awareness among consumers is driving them to add more functional foods or superfoods to their diet. For instance, according to a survey report published by Datassential in 2019, over 56% of adults have shown an inclination toward superfoods for good health. This rapidly surging trend is driving the global apple cider vinegar market growth. In addition, various enterprises are developing innovative food products using the substance as the key ingredient. For instance, in June 2020, Good Glow, a wellness products company, introduced its new AVC wellness shot diluted and made from wholly organic ingredients. The increasing adoption of such products will further boost the demand.

However, prolonged consumption of AVC could lead to health issues such as tooth decay and acidity. For instance, Dr. Robert H. Shmerling, an associate professor of Harvard medicine, has suggested that excessive consumption of the product could lead to hypokalemia. Such factors are predicted to hinder market growth.

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Key Market Segmentation

We have categorized the market on the basis of source, form, distribution channel, and geography. In terms of source, the market is divided into conventional and organic. Based on form, it is fragmented into liquid and tablet. On the basis of distribution channel, the market is bifurcated into hypermarkets/supermarkets, online channels, traditional grocery stores, and others. Lastly, based on the region, it is segmented into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.

Regional Insights

High Production in the U.S. to Help North America Dominate the Market

The total value of the market in North America stood at USD 277.9 million in 2020. The region is projected to hold the leading apple cider vinegar market share during the forecast period due to high production in the U.S. In addition, new product launches from several manufacturers for the U.S. market are projected to accelerate the demand for AVC in the region. For instance, in February 2021, Garden of Life, one of the leading producers of organic products, collaborated with the actress Alicia Silverstone for the launch of mykind, a new range of apple cider vinegar gummies.

The market in Asia Pacific is estimated to showcase positive growth during the projected timeline. The arrival of new players in the market has given a boost to the market expansion in the region. For instance, Goli Nutrition has opened a new trend in the Indian market space by offering ACV-based gummies in the country.

Competitive Landscape

Prominent Players Experimenting with Product Form to Enter New Markets

Prominent enterprises operating in this market are focusing on experimenting with the form of consumption of their product. They are seeking innovative ways to find easier ways of consuming their products. For instance, in 2020, Man Matters, a health and wellness company, introduced ACV gummies in the Indian market. These gummies are aimed to help consumers manage their weight 

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Key Industry Developments:

December 2019: Mizkan America, Inc. introduced OSU, a new apple cider vinegar using the Japanese expertise of fermentation. The product was launched in the UK market.

May 2019 – Lost Coast Food Co. Ltd, one of the leading beverage manufacturers in the UK, introduced three new flavors of sparkling apple cider vinegar for potential customers in the country.

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Europe Dietary Supplements Market to Hit a CAGR of 9.3% by 2020-2027

According to Fortune Business Insights™, the Europe dietary supplements market size is projected to reach USD 33.80 billion by 2027, exhibiting a CAGR of 9.3% during the forecast period. The rapid spread of the coronavirus across Europe has brought to the fore the importance of dietary supplements in recent months. Dietary supplements consisting of specific vitamins, proteins, and other micronutrients have been proven to be effective in strengthening the immune system’s response to COVID infection.

A study conducted by researchers from the University Medical Center in the Netherlands, the University of Otago in New Zealand, the University of Southampton in the UK, and the Oregon State University in the US found that vitamins C & D, and DHA, an Omega-3 fatty acid found in fish, can significantly boost immune function. A strong immune system is critical in fighting the COVID-19 infection and as the pandemic continues its rampage across Europe, the demand for dietary supplements is set to spike in the region.

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Market Driver

Changing Demographics in Europe to Feed Market Growth

Europe, according to the UN’s Population Division, was the first region to enter the period of demographic transition, characterized by lower fertility and improved longevity. The UN states that in 2017, nearly 20% of Europe’s population was aged 60 and above and by 2050, this is expected to reach 35%. This presents attractive opportunities for players in the dietary supplements market of Europe as older people need to consume supplementary food items to maintain their health and energy.

For example, the National Institute of Aging in the US recommends sufficient intake of calcium for people over the age of 50 for maintaining bone density as bone loss can lead to fractures in older persons. Similarly, physicians commonly recommend old people to increase intake of vitamin B6, which is present in bananas, potatoes, fortified cereals, and chicken breast, as it is necessary to form red blood cells. Thus, the Europe dietary supplements market growth is anticipated to gain impetus as the continent’s geriatric population rises.

Regional Insights

Improving Adoption Rate of Food Supplements to Surge the Regional Market

Rising awareness about the multiple benefits of dietary supplements is improving the adoption rate of these products across Europe. To a large extent, this is attributable to the changing perception of food supplement products among consumers in countries such as Belgium, Austria, Denmark, and Greece. The demand for specialized supplements is also growing in the continent, and companies in the region are extensively utilizing e-commerce platforms to broaden their reach regionally as well as internationally.

Among countries, Italy is expected to dominate the Europe dietary supplements market share during the forecast period on account of supportive policy framework for herbal food supplements in the country. In 2019, the region’s market size was at USD 2.99 billion. On the other hand, the UK is anticipated to display a remarkable CAGR of 9.69% in the forthcoming years.

Competitive Landscape

Research-based Collaborations to Emerge as Hallmark Feature of Competition

Leading players in the Europe dietary supplements market are actively collaborating with diverse organizations, institutions, and companies to enhance their research capacities. This is allowing them to widen their offerings and develop products for specific consumers. Additionally, companies are leveraging digital platforms to boost sales and strengthen distribution networks.

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List of Key Players Covered in the Europe Dietary Supplements Market Report:

• Suntory Holdings Ltd. (Tokyo, Japan)
• Danone S.A. (Paris, France)
• Herbalife Nutrition Ltd. (California, United States)
• GlaxoSmithKline plc (Brentford, United Kingdom)
• Amway Corp (Michigan, United States)
• Pfizer Inc. (New York, United States)
• Nestle S.A. (Vevey, Switzerland)
• Glanbia Nutritionals (Chicago, United States)
• Archer Daniels Midland Company (Chicago, United States)
• Abbott Laboratories (Chicago, United States)

Key Industry Developments:

• February 2020: Nestle Health Science signed a long-term agreement with VALBIOTIS, a French health R&D company, to develop and commercialize TOTUM-63. Conceived to lower the risk of development of Type 2 Diabetes in pre-diabetic persons, the product features an innovative combination of five plant extracts.
• November 2019: Royal DSM completed its takeover of AVA, a US-based nutrition platform, strengthening its portfolio of health and wellness products and services. AVA is an AI-based digital health platform that provides adaptive nutrition recommendations and delivers live coaching to customers.

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As per the report, the market value stood at USD 14.95 billion in 2019. It also provides the following:

• Microscopic analysis of the various market segments;
• Tangible insights into the drivers and trends shaping the market’s growth trajectory;
• Detailed evaluation of the challenges facing the market; and
• Exhaustive study of the regional dynamics and competitive milieu of the market.

Moringa Products Market to Hit a CAGR of 9.63% by 2021-2028

The global moringa products market size amounted to USD 7.08 billion in 2020. The market value is slated to increase from USD 7.79 billion in 2021 to USD 14.80 billion in 2028 at a CAGR of 9.63% over the projected timeframe. Increasing public awareness toward the health benefits of drumsticks is a key factor driving the market growth. Rising demand for organic dietary supplements will also augment this growth, states Fortune Business Insights™ in its report titled “Moringa Products Market, 2021-2028”.

Moringa (Moringa oleifera), commonly known as drumstick, is a nutritionally abundant tree native to the Indian subcontinent. The drought-resistant tree can also be found in Southwest Asian countries and some African countries. Products derived from the tree such as leaves, tea, oil, leaf powder, and moringa seeds have numerous health benefits. These benefits make them suitable for a range of applications in food, feed, pharmaceutical, and cosmetics. Growing awareness toward these benefits will drive product consumption in future.

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List of Key Players Present in the Market

• Aayuritz Phytonutrients Pvt. Ltd. (Gujarat, India)
• Botanica Natural Products (Limpopo, South Africa)
• Organic India (Lucknow, India)
• Moringa Connect (Accra, Ghana)
• Earth Expo Company (Gujarat, India)
• Moringa Malawi (Blantyre Malawi)
• Saipro Biotech Private Ltd. (Maharashtra, India)
• Himalaya Global Holdings Ltd. (Karnataka, India)
• Ancient GreenFields Pvt. Ltd. (Tamil Nadu, India)
• Herbs & Crops Overseas (Ahmedabad, India)

COVID-19 Impact

Supply Chain Problems and Trade Restrictions Restricted Market Growth amid Pandemic

The COVID-19 pandemic slowed down the moringa products market growth slightly due to strict lockdown restrictions introduced to contain the coronavirus spread. These restrictions led to large-scale delays in transportation and logistics. In addition, temporary shutdown of factories and shortages in the workforce created major challenges for manufacturers.

However, the pandemic led to increased focus over health and wellbeing among consumers. Nutrition-rich foods and health supplements have experienced increased demand in several regions. These factors could help negate the impact of COVID-19 in the forthcoming years.

Report Coverage

The report offers:

• Major growth drivers, restraints, opportunities, and potential challenges for the market.
• Comprehensive insights into the global as well as regional developments.
• List of key industry players.
• Major strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.

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Drivers & Restraints

Rising Health Concerns and Demand for Supplements to Augment Market Growth

The market growth is aided by growing consumer awareness toward the health benefits of moringa products and drumsticks. With unprecedented access to social media, internet, and other sources, consumers are increasingly becoming aware about natural and organic products to capitalize on the rising product popularity. Brands are using moringa as an ingredient in cosmetics, pharmaceuticals, food products, and supplements.

Uptick in the demand for dietary supplements is creating tremendous opportunities for moringa suppliers worldwide. Consumers are increasingly seeking safe, clean-label, and better-for-you products made with naturally-sourced ingredients. Moringa-based supplements will experience robust demand over the next few years.

However, the product demand could be hampered by strict regulatory frameworks and lower market penetration in certain regions.

Regional Insights

Asia Pacific to Dominate owing to Abundant Availability of Moringa

Asia Pacific is slated to dominate the moringa products market share during the forecast period. In 2020, the region generated USD 2.70 billion in terms of annual revenue in the global market. High product consumption in Asia Pacific could be attributed to the abundant availability of moringa products. Growing awareness about the product benefits along with rising supplements demand will foster the regional expansion. 

Europe will exhibit stellar growth over 2021-2028 led by the growing consumption of nutritional supplements. Germany, Italy, the Netherlands, and the U.K. are some of the leading markets for supplements in Europe and will witness growing product consumption in future.

North America will be driven by the rapid rise in the adoption of foods and supplements with natural and organic ingredients.

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Key Industry Development

June 2021 – Vasu Healthcare Pvt. Ltd., an Ayurvedic and herbal products manufacturing company, launched a new range of herbal supplements called Vasu Safe Herbs. The product range consists of single herb vegetarian capsules such as holy basil, moringa, turmeric, and others.

Frozen Foods Market to Hit a CAGR of 3.1% by 2020-2027

The global frozen foods market size is projected to reach USD 185.28 billion by 2027, exhibiting a CAGR of 3.1% during the forecast period. Growing number of urban dwellers around the world will be a leading factor propelling this market in the near future, states Fortune Business Insights™ in its report, titled “Frozen Foods Market Size, Share & Industry Analysis, By Type (Frozen Vegetables and Fruits, Frozen Ready Meals, Frozen Pizza, Frozen Seafood, Frozen Meat Products, Frozen Potato Products, Frozen Baked Products, and Others), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online Retail), and Regional Forecast, 2020-2027”. Urbanization is gaining considerable traction worldwide, underpinned by speedy economic growth and development, especially in Asia and Africa. According to the UN Department of Economic and Social Affairs (DESA), urban areas, which house roughly 55% of the global population at present, will be home to nearly 70% of the world population by 2050. Put differently, over 2 billion people will be added to the world’s urban areas in the next three decades, with Asian and African countries leading the charge. Urban agglomerates are typically characterized by the widespread presence of supermarkets, hypermarkets, and departmental stores. Frozen food products are some of the most prominent items on shelves at these facilities owing to their high demand among the working populace. Thus, expansion of urban areas is expected to favor the growth of this market during the forecast period.

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As per the report, the global market value was at USD 146.79 billion in 2019. The report also features the following:

• Comprehensive insights into the drivers, trends, and restraints shaping market size & growth;
• Tangible analysis of the various market segments;
• Detailed profiling and study of the key market players & their strategies; and
• Exhaustive examination of the regional opportunities & developments impacting the market.

Market Driver

Resurgent Demand for Frozen Foods amid COVID-19 to Boost the Market

When the coronavirus pandemic broke out and lockdowns and social distancing measures were imposed worldwide, retail stores and supermarket outlets were fearful of reduced footfalls, which would result in declining sales. While consumer footfall dropped as expected, retail facilities are experiencing a new wave of demand for frozen food products. According to a study commissioned by the American Frozen Food Institute (AFFI), the resurgent demand for frozen foods is attributable to returning buyers as well as first-time buyers. The study found that in America, approximately 86% of consumers were buying frozen foods, despite the pandemic. More interestingly, the study revealed that 70% of current consumers are purchasing more products than usual, while 68% are trying new products, indicating a shift purchasing patterns. The COVID-19 pandemic, therefore, has increased the demand for frozen foods and the AFFI study states that this surge will continue even after the crisis is over.

Regional Insights

Growing Preference for Vegetarian Diets to Catalyze the Market in Europe

With a size of USD 56.17 billion, Europe dominated the frozen foods market share in 2019 and the region is expected to retain its leading position during the forecast period. This will be mainly attributable to the gradual adoption of vegetarian and vegan diets in the region, which is fueling the demand for frozen vegetables and fruits. In addition to this, high consumer purchasing power will be another factor feeding the growth of the regional market.

Growing awareness among consumers about the benefits of frozen foods and strict food-safety regulations imposed by the US Food and Drug Administration (FDA) on frozen eatables will support the market in North America. In Asia Pacific, the primary growth driver for the market will be the rising number of cold chain facilities in the developing countries of the region.

Competitive Landscape

Strategic Launch of Products in Regional Markets to Foster Competition

Key players in this market are tapping avenues to capture region-specific frozen food industry trends and expand their presence in these regions. Besides this, companies are also making large-scale investments in enhancing their production and R & D capacities, thereby strengthening their market presence.

Industry Developments:

• July 2020: Tyson Foods released a new range of frozen chicken products under its Tyson brand across the foodservice industry in Europe. The brand consists of 28 frozen items with a variety of categories ranging from coated fillets to skewers.
• September 2019: Conagra Brands unveiled its plans to build an innovation center in Chicago, which will be named ‘The Conagra Brands Center for Food Design’. The center will focus on innovation related to snacking, while company’s Center for Food Design and Technology in Nebraska will concentrate on the company’s frozen, refrigerated meal offerings.

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List of Key Companies Profiled in the Frozen Foods Market Report:

• Tyson Foods, Inc. (Arizona, U.S.)
• Unilever PLC (London, U.K.)
• McCain Foods Limited (Toronto, Canada)
• Grupo Bimbo S.A.B. DE C.V. (Mexico City, Mexico)
• Conagra Brands Inc. (Illinois, U.S.)
• General Mills Inc. (Minnesota, U.S.)
• Wawona Frozen Foods (California, U.S.)
• The Kraft Heinz Company (Illinois, U.S.)
• Lantmannen Unibake International (Copenhagen, Denmark)
• The Kellogg Company (Michigan, U.S.)
• Nestle SA (Vevey, Switzerland)

Canned Tuna Market to Hit a CAGR of 2.26% by 2027

The global canned tuna market size is expected to reach USD 9.22 billion by 2027, exhibiting a CAGR of 2.26% during the forecast period. The rising consumption of packed food items and beverages will spur lucrative opportunities for the market during the forecast period, states Fortune Business Insights in a report, titled “Canned Tuna Market Size, Share & Covid-19 Impact Analysis, By Type (Canned Light Tuna and Canned White Tuna), Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Specialty Stores, and Online Retail), and Regional Forecast, 2020 – 2027” the market size stood at USD 7.74 billion in 2019.

The list of Top players profiled in the Global Canned Tuna Market are:

• Thai Union Group PCL (Thailand)
• StarKist Co. (U.S.)
• A.E.C. Canning Company Limited (Thailand)
• American Tuna Inc. (Unites States)
• Bumble Bee Foods LLC (United States)
• Century Pacific Food Inc. (Philippines)
• Crown Prince Inc. (United States)
• Grupo Albacora SA (Spain)
• Wild Planet Foods Inc. (United States)
• Golden Prize Canning Co. Ltd. (Thailand)
• Ocean's (Canada)
• Dongwon Enterprise Co., Ltd. (South Korea)

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Market Driver:

Heavy Demand for Ready-to-Eat Food Products to Boost Growth

The rising consumer inclination towards ready-to-cook and ready-to-eat food products owing to the sedentary lifestyle of people in cities will have a tremendous impact on the market in the forthcoming years. The surge in the working women class will subsequently propel the growth of the market in the foreseeable future. The increasing awareness about the benefits of convenience food items such as easy to prepare, nutritious, and instant ready will fuel high demand for the market in the foreseeable future. The focus of manufacturers towards the development of innovative and best quality ready-to-eat packaged food items to serve the needs of the consumers will further enhance the potential of the market. For instance, In February 2019, Chicken of the Sea a leader of packaged seafood based in California announced the launch of a new resealable, single-serve recyclable cup of wild-caught tuna to cater to the high demand for on-the-go food among millennials.

Regional Analysis:

Production of Processed Food Products to Bolster Growth in North America

North America is predicted to witness an exponential growth rate during the forecast period owing to the extensive consumption of processed food products and beverages. The rising demand for convenience food and a well-established supply chain will foster the healthy growth of the market in North America. The expansion of production units of huge multinational processed companies in the U.S, Canada, and Mexico will positively affect market growth. The presence of a large migrant population in the region has led to the consumption of ready-to-eat food items. 
The rise in cross-culture food consumption has fuelled demand for various cuisines Japanese and Indian cuisines such as tekkadon, sushi, and curries, which, in turn, will augur well for the market. Asia Pacific is expected to rise tremendously during the forecast period owing to the rising millennial population. The increasing demand for convenience food will contribute positively to the growth of the market in the region. Rapid urbanization and industrialization will propel market growth in Asia Pacific. 

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Key Industry Development:

April 2019: John West Foods Limited announced the launch of a new range of canned tuna-based cracker toppers as an initiative to create quick and convenient snacking alternatives along with expanding its product portfolio.

Honey Market to Hit a CAGR of 5.5% by 2028 | Birth of Innovative Bees-related Startups to Reshape Market Dynamics

According to Fortune Business Insights™, the global honey market is projected to reach USD 11.88 billion by 2028, exhibiting a CAGR of 5.5% during the forecast period. Increasing consumption of honey to treat severe cough and cold-induced by the coronavirus and the seasonal flu is exacted to propel the growth rate of this market, observes in its report, titled “Honey Market Size, Share & COVID-19 Impact Analysis, By Type (Alfalfa, Buckwheat, Wildflower, Clover, Acacia, and Others), Application (Food & Beverages, Personal Care & Cosmetics, Pharmaceuticals, and Others), Packaging (Glass Jar, Bottle, Tub, Tube, and Others), and Regional Forecast, 2021-2028”. The market size stood at USD 7.84 billion in 2020. 

COVID-19 IMPACT Analysis:

The SARS-CoV-2 infection, which triggered the COVID-19 pandemic in March 2020, is known to attack the respiratory system of the body, giving rise to moderate to severe cough, cold, and persistent fever. With cases surging worldwide and people showing increasing apprehension in getting admitted into hospitals, there has emerged a growing demand for home-based treatments for possible coronavirus infection. This sweet liquid food called honey, with its proven antimicrobial and antioxidant properties, is becoming the choice cure for many individuals suffering from COVID-induced cough and cold. Research is also supporting the consumption of natural honey to fight viral infections.

For example, in August 2020, researchers at the University of Oxford found that intake of this sweet liquid sped up improvements in symptoms related to cold. Showing no side effects and being rich in nutrients, the study established this product as a viable alternative to antibiotics for respiratory afflictions. The soaring popularity of this natural remedy for sore throat and cold amid the COVID-19 pandemic has enabled the market to grow at an impressive CAGR of 9.0% in 2020. 

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List of Companies Profiled in the Honey Market Report:

• Dutch Gold Honey Inc. (Pennsylvania, United States)
• Bee Maid Honey Limited (Manitoba, Canada)
• Capilano Honey Ltd. (Queensland, Australia)
• Billy Bee Honey Products (Ontario, Canada)
• Golden Acres Honey (Canada)
• New Zealand Honey Co. (Washdyke, New Zealand)
• Dabur India Ltd. (Uttar Pradesh, India)
• Comvita Limited (Te Puke, New Zealand)
• Barkman Honey LLC (Kansas, United States)
• Yamada Bee Company (Tokyo, Japan)

Driving Factor

Birth of Innovative Bees-related Startups to Reshape Market Dynamics
The demand for natural sweeteners is gaining swift momentum around the globe, with natural honey and other related products garnering much attention since ancient times. The changing dynamics of the natural sweetener industry has led to the birth of innovative startups, creating products and services surrounding the pollination business.

For example, OS Beehives, a Colorado-based startup, has developed a remote sensor connected to the network called BuzzBox. This sensor system uses machine learning to assess hive health based on its interaction with barometric pressure, humidity, and temperature. It is ideal for beekeepers to track their hives remotely. Another unique example is the Germany-based pollination brokerage network, BEEsharing. The network is a multi-faceted platform, designed to connect farmers to beekeepers and beekeepers to vendors for honey, pollen, and beeswax. The broadening presence of startups specializing in this sweet liquid and other bees-related products is, thus, stoking the growth of this market. 

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Regional Insights

Supportive Government Policies to Provide Impetus to the Market in Asia Pacific
Asia Pacific is poised to dominate the market share during the forecast period on account of formulation of policies supporting beekeeping and other related activities by governments in the region. In India, for instance, the Central Government sanctioned around USD 68 million to promote hive-related businesses under its Atmanirbhar Bharat Scheme launched in May 2020. Similar policy support is also being witnessed in Australia. The Asia Pacific market size stood at USD 2.73 billion in 2020.

After Asia Pacific, Europe is set to rise as the second-largest region in terms of revenue share in the global market. Here, the market is anticipated to be driven by the spreading awareness about the various health benefits of this natural product. In North America, on the other hand, an increasing number of beekeepers across Canada and the US will fuel the regional market.

Competitive Landscape

High Investments in R&D by Key Players to Boost Market Innovation

The honey market growth is receiving frequent booster shots due to the rising investments by key players in research & development activities. These investments are enabling companies to create and launch novel products, widen the scope of their operations, and expand their existing customer base.

Food & Beverage Segment to Account for the Largest Share

The heavy demand for honey in the food and beverage industry for the production of confectionery products, beverages, and other baked goods will incite the growth of this segment. Based on packaging, glass and plastic bottles are expected to hold the largest share due to their higher convenience compared to other packaging.

The report’s primary features include:

• Thorough segmentation of the market and piece-meal study of each segment;
• Unrivalled insights into the regional developments occurring in the market;
• Exhaustive research into the market drivers, trends, and challenges; and
• Holistic assessment of the competitive landscape of the market.

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Key Industry Developments:

• September 2020: Comvita announced the release of Multifloral Manuka Honey, the brand’s maiden MGO-certified Manuka offering. The key ingredient in this product is derived from the Manuka flower known for its antibacterial properties, and blended with other New Zealand wildflowers.
• June 2020: Capilano introduced its Low Glycemic Index (GI) Honey, formulated with a select blend of 100% Australian eucalypt honey. It is an ideal sugar alternative for people wanting to lessen their sugar intake as the product has been designed to release energy more slowly and in a sustained manner.

Spices & Seasonings Market to Hit USD 25.42 billion by 2029

 The global spices & seasonings market size was USD 17.75 billion in 2021. The market is projected to grow from USD 18.47 billion in 2022 to USD 25.42 billion by 2029, exhibiting a CAGR of 4.67% during the forecast period.

This information is provided by Fortune Business Insights™, in its report, titled, “Spices & Seasonings Market, 2022-2029.”

The market is mainly navigated by some factors, such as the growing popularity of ethnic cuisines. It is steering the demand for spice blends and original spices.

COVID-19 Impact

Interruptions in Supply Chain and Trade during COVID-19 Pandemic to Hamper Growth

The occurrence of the pandemic has led to sluggish growth owing to numerous fiscal, political, and social modifications. The crisis considerably influenced the world's spices sector, with its value chain expanding from the main production hubs in emerging nations to the global spice trade network. Following the imposition of lockdown measures by national governments to stop the spread of the virus, there have been labor scarcities triggered by workforce migration. The border closure of China and India commenced the drop in the price of a few spices.

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List of Key Players Covered in the Report

• McCormick & Company, Inc. (U.S.)
• Kerry Group Plc (Ireland)
• Watkins Incorporated (U.S.)
• Olam International (Singapore)
• Associated British Foods PLC (U.K.)
• Ajinomoto Co., Inc. (Japan)
• Sensient Technologies Corporation (U.S.)
• ARIAKE Japan Co. Ltd. (Japan)
• SHS Group (U.K.)
• Worlée Group (Germany)

Report Coverage

We offer our reports that are navigated with an in-depth review method that primarily focuses on delivering accurate material. Our scholars have applied a data navigation method that further assists us to offer trustworthy predictions and test the general market dynamics perfectly. Further, our analysts have attained permission to numerous international as well as domestic financially backed registers for presenting the up-to-date information so that the shareholders and business experts capitalize in the functional zones.

Segmentation

Snacks and Convenience Foods to Dominate during Forecast Period

Based on type, the market is segregated into pepper, chili, ginger, cinnamon, cumin, turmeric, nutmeg and mace, cardamom, cloves, and others.

On the basis of application, the global spices & seasonings market is segmented into meat and poultry, bakery and confectionery, frozen foods, snacks and convenience foods, and others. Snacks and convenience foods are the most important commodities in the spice and seasoning trade and are expected to lead during the forecast period.

In terms of region, the market is separated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Growing Veganism and Vegetarianism to Foster Market Growth

Vegetarianism and veganism are part of a global trend that is promptly extending. The vegan population in the U.S. and the U.K. has grown substantially. Numerous spices used in the meat processing industry beforehand are currently used as non-vegetarian substitutes. This trend assists towards the rise in spice demand. Plant-based diets are transforming expansively across the globe. The companies are accentuating novel product unveilings, particularly for the vegan and vegetarian population, to take benefit of this novel trend.

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Regional Insights

North America to Dominate Backed by Increasing Usage of Herbs in Cooking

North America held the largest spices & seasonings market share and stood at USD 7.48 billion in 2021. North America has been one of the prime markets for spices & seasonings as novel consuming practices alter how consumers perceive herbs.

Asia Pacific market is likely to display notable progress due to the growth of food processing industries in the region.

Europe is anticipated to observe considerable spice & seasonings market growth owing to the surging preference of young European consumers towards exotic and prominent food flavors. Europe is among the world's key importers of herbs and spices.

Competitive Landscape

New Product Launch Declarations by Prime Players to Boost Market Growth

The noticeable players embrace numerous strategies to bolster their position in the market as dominating companies. One such key strategy is procuring companies to bolster the brand value among users. Another vital strategy is intermittently unveiling groundbreaking products with a methodical study of the market and its target audience.

Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Overview on the Parent/Related Market
    • Analysis on Supply and Demand of Condiments
  • Supply Chain and Regulatory Analysis
  • Recent Industry Developments – Policies, Mergers, Partnership & Acquisition
  • Market Analysis and Insights (in Relation with COVID-19)
    • Impact of COVID-19 on the Market
    • Supply Chain Challenges due to the Pandemic
    • Potential Opportunities to Support the Market during the Global Crisis

TOC Continued…!

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Industry Development

September 2021: Olam Food Ingredients unveiled 'Blends of the Americas', which is the first collection in its novel spice blends series. The 17 ready-to-use dry blends offer food service companies, food producers, and retailers an effortless, clean-label solution for manufacturing authentic and constant flavors motivated by the continent's popular cuisines from those in the Caribbean, Mexico, and the U.S. Southwest.

Nutraceuticals Market to Hit a CAGR of 9.3% by 2021-2028

The global nutraceuticals market size is expected to gain momentum by reaching USD 658.11 billion by 2028 while exhibiting a CAGR of 9.3% between 2021 and 2028. Fortune Business Insights in its latest report, titled, “Nutraceuticals Market, 2021-2028.”, mentions that the market stood at USD 320.00 billion in 2020. Factors such as the increasing personalization in nutritional diet and the increasing investment in R&D activities are expected to propel the demand for the product in the forthcoming years.

For instance, in July 2019, General Mills announced its collaboration with GoodBelly to produce and distribute lactose-free yogurts and a probiotic-based cereal to cater to the growing demand from consumers. Therefore, the increasing focus on the personalization of nutrition has propelled companies to introduce healthy food products worldwide.

List of Companies Profiled in the Global Nutraceuticals Market:

• Herbalife Nutrition Ltd. (California, United States)
• Archer Daniels Midland Company (Illinois, United States)
• General Mills (Minnesota, United States)
• PepsiCo Inc. (New York, United States)
• BASF SE (Mannheim, Germany)
• Abbott (Illinois, United States)
• Amway (Michigan, United States)
• Glanbia Plc. (Ireland)
• Danone S.A. (Paris, France)
• Nestle S.A. (Vevey, Switzerland)

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Massive Spike in Demand for Healthy Food Products amid COVID-19

The COVID-19 pandemic has brought upon a turbulent time for several economies worldwide. However, it has also been an eye-opener for people globally to adopt a healthy and nutritious diet with a core focus on building strong immunity. The demand for vitamins and minerals has surged significantly and people are consuming immunity-boosting products to ensure protection from chronic and infectious diseases. This is expected to bode well for the growth of the market in the forthcoming years.

What does the Report Include?

The global market for nutraceuticals report includes an in-depth analysis of the market and focuses on crucial aspects such as materials, leading companies, applications, and products. Also, the report offers insights into the latest trends and highlights key industry developments. The report further includes historical data & forecasts revenue growth at global, regional, and country levels and analyzes the industry's latest dynamics and opportunities that will impact the market growth between 2021 and 2028.

DRIVING FACTORS

Increasing Investment in Product Development to Favor Growth

In January 2020, Archer Daniels Midland Company announced the acquisition of Yerbalatina Phytoactives, a leading manufacturer of natural plant-based extracts and ingredients. The company with its investment aims to strengthen its position in the market. Similarly, several companies are focusing on investing in R&D activities to develop and introduce health-benefiting food products to cater to the growing demand for nutritious products worldwide. Moreover, the development of natural food products devoid of any harmful substances will boost the global nutraceuticals market growth in the forthcoming years.

REGIONAL INSIGHTS

Asia-Pacific to Remain at Forefront; Demand for Functional Foods to Increase in North America

Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the market during the forecast period. The dominance is attributable to the presence of a large population and the improving living standards in countries such as India, Japan, and South Korea, among others that will boost the demand for nutraceuticals in the region. Moreover, the region stood at USD 124.70 billion in 2020.

The market in North America is expected to hold the second position in the market backed by the increasing demand for plant-based nutritional products and the growing demand for functional food in countries such as the U.S. between 2021 and 2028.

Market Segmentation:

Based on product type, the market is trifurcated into dietary supplements, functional foods, and functional beverages.

On the basis of product type, the dietary supplements segment held a global nutraceuticals market share of about 19.12% in terms of revenue in 2020 and is likely to experience considerable growth. This is due to several companies focusing on expanding their dietary supplement production facilities to cater to the growing consumer demand.

Based on the distribution channel, the market is categorized into hypermarkets/supermarkets, convenience stores, online retail, and others. Lastly, on the basis of region, the market is segregated into Asia-Pacific, North America, Europe, South America, and the Middle East and Africa.

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COMPETITIVE LANDSCAPE:

Merger and Acquisition between Major Companies to Brighten their Market Prospects

The global market comprises small, medium, and large companies that are striving to maintain a stronghold. The large companies are focusing to expand their nutraceuticals portfolio by acquiring other small companies. Moreover, other key players are adopting strategies such as facility expansion, partnership, and collaboration to gain a competitive edge over their rivals that will favor the market growth in the forthcoming years.

Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Overview on the Parent Market
  • Supply Chain Analysis
  • Industry SWOT Analysis
  • Recent Industry Developments - Policies, Mergers & Acquisitions, and
  • New Product Launches
  • Market Analysis and Insights (in Relation with COVID-19)
    • Impact of COVID-19 on the Market
    • Supply Chain Challenges due to the Pandemic
    • Potential Opportunities Due to COVID-19
• Global Nutraceuticals Market Analysis, Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Size Estimates and Forecast 
    • By Product Type (Value)
      •  Dietary Supplements
      •  Functional Foods
      •  Functional Beverages
    • By Distribution Channel (Value)
      • Hypermarkets/Supermarkets
      • Convenience Stores
      • Online Retail
      • Others
    • By Region (Value)
      • North America
      • Europe
      • Asia Pacific
      • South America
      • Middle East & Africa

TOC Continued…!

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Key Industry Development:

September 2020 - Nuliv Science introduced a new compound, Senactiv that helps to promote muscle energy and regeneration. The company further reports that the new sports product is manufactured taking into consideration the surging demand for dietary supplements among consumers.

North America Fast & Oils Market to Hit a CAGR of 4.49% by 2026

According to the research, the North America fats and oils market is anticipated to reach 36.60 million tonnes from 25.92 million tonnes, rising at a CAGR of 4.49% within the forecast period of 2019 to 2026. The market is expected to witness faster growth on account of rising consumption of healthy oils such as olive oil, rapeseed oil, and others.

Presence of Omega-3 and Omega-6 Fatty Acids in Oils and Fats is a Key Factor Driving North America Fats and Oils Market Growth

On the basis of application, the food application segment is likely to hold more than 2/3^rd share of the market. This is because of the increasing demand for fats and oils from the food and beverage industries in the region. Use of fats and oils in food applications is anticipated to rise at a steady 3.22% CAGR in the forecast duration.

On the other side, the soybean oil segment is anticipated to dominate North America fats and oils market in terms of vegetable oils, with an approximate share of 50%. This is owing to the high use of soybean oil for food as well as industrial applications. Likewise, the demand for corn oil and canola oil is also anticipated to witness decent growth in the coming years because of the presence of micronutrients such as omega-3 and omega -6 fatty acids in them. This segment is likely to grow at a CAGR of 6.06% in the foreseeable future.

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Key Points Covered:

• Business Opportunities
• Commerce Challenges
• Demand Insights
• CAGR Values
• Historic Analysis
• Detailed Segmentation
• Top Companies Data
• Market Size
• Supply Trend
• Target Audience
• Key Geographies

Increasing Adoption of Unsaturated Fats and Oils to Boost Market

The oils and fats market in North America is witnessing growth due to diverse factors. These include the rising adoption of unsaturated oils and fats such as rapeseed and canola by food processing and food service industries. In addition, the rise in healthcare expenditure of people living in Canada and the U.S is fueling the demand for oils and fats in North America. Since oils and fats are important ingredients for preparing various food products, it has huge demand in the market. Fats and oils are often used to improve the texture, appearance, and flavor of the food item when used in appropriate amount. These factors also expected to boost North America oils and fats market revenue.

The unhealthy lifestyle of people and their uncertain diet patterns may hamper the overall fats and oils market in North America. Meanwhile, coconut oil is considered as a rich source of fatty acid that is immune to various pathogens such as bacteria.

Nevertheless, rising health consciousness among people and the augmenting trend of health conscious diet are anticipated to fuel demand for healthy oils and fats that will further bring lucrative growth opportunities for the market in the long run.

Rising Trend of Eat Healthy- Stay Healthy to Propel Demand for Market

The competitive landscape of North America fats and oils market is fragmented with the presence of many large and small players, each one trying to stand out in the crowd and generate more to the most revenues. Players are investing huge sums for research and development in order to come out with unique techniques to extract fats and oils from their natural sources.

Some of the players operating in the north America fats and oils market are Associated British Foods Plc (ABF), Louis Dreyfus Company, Incobrasa Industries, Ag Processing, Inc., Cargill Incorporated, Viterra Inc., Perdue Agribusiness, Riceland Foods, Bunge North America, Archer Daniels Midland Company, and others.

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Major Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Overview on Parent/Related Market
  • Supply Chain Analysis
  • Recent Industry Developments - Mergers & Acquisitions
• North America Fast & Oils Market Analysis, Insights and Forecast, 2015-2026
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Source
    • Vegetable Fats & Oils
    • Animal Fats & Oils
  • Market Analysis, Insights and Forecast – By Application
    • Food Use
    • Non-food Use
  • Market Analysis, Insights and Forecast – By Type
    • Soybean Oil
    • Canola Oil
    • Corn Oil
    • Palm Kernel Oil
    • Olive Oil
    • Cottonseed Oil
    • Sunflower Oil
    • Sesame Oil
    • Linseed Oil
    • Castor Oil
    • Lard
    • Tallow
    • Fish Oil
    • Butter
  • Market Analysis, Insights and Forecast – By Country
    • U.S.
    • Canada
    • Mexico

TOC Continued…!

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Compound Feed Market Size, Share, Revenue, Global Demand, Drivers and Forecast by 2021-2028

The growing awareness regarding the quality of livestock products is a crucial factor expected to enable growth of the global compound feed market, says Fortune Business Insights™ in a report, titled “Compound Feed Market Size, Share And Global Trend By Ingredient Type(Feed grains, Cakes & Meals, By-Products, Supplements), By Source(Plant-sourced, Animal-sourced), By Livestock (Ruminants(Calves, Dairy, & Beef Cattle), Swine(Starter, Grower, and Sow), Poultry(Chicks, Broilers, and Layers), Aquatic animals(Molluscs and Fish)), And Geography Forecast Till 2028” the growing storage issue with traditional feedstuffs is likely to fuel demand for compound feed during the forecast period.

According to the report, the surge in commercial livestock producing units & scope to enhance the productivity to cater to the increasing demand is expected to contribute positively to the compound feed market revenue during the forecast period. According to the Food and Agriculture Organization (FAO), global milk production is projected to increase by 22% during the medium-term forecast period (2018 to 2027). Furthermore, increasing awareness about the nutritional requirement of livestock animals and balanced feeding practices will further create new growth opportunities for the market in the foreseeable future. In addition, the wide-range of compound feed products offered by key players is expected to accelerate the growth of the market.

The report offers profound insights into all the prevailing trends of the compound feed market. It shares an all-encompassing study of all the segments and provides authentically procured data. It is put together after extensive research followed by descriptive analysis to assist companies, stakeholders, financers, and potential investors. It is designed with an aim to provide a perfect depiction of the market size. Moreover, it also covers parts such as product launches, acquisitions, collaborations & partnerships, and innovations and industry developments.

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Acquisition of Cargill by AURELIUS to Spur Sales Opportunities

AURELIUS Equity Opportunities SE & Co, an asset management group and a leader in animal nutrition, acquired Cargill’s animal nutrition business in Switzerland. The Swiss product offering includes specialty feed for pets, horses, zoo animals and medicated feed. Cargill employs about 250 people who will be transitioned under existing contracts, and operates three well-equipped, state-of-the-art animal feed production sites across Switzerland, among them a new facility constructed in 2016 at its location in Lucens. The new project is expected to aid Cargill in the management of employees and entirely focus on its customers. The acquisition of Cargill by AURELIUS is predicted to stimulate the healthy growth of the market during the forecast period.

Furthermore, the acquisition of Philippines-based Aboitiz Equity Ventures is predicted to boost the compound feed market share during the forecast period. For instance, Philippines-based Aboitiz Equity Ventures acquired a 75% stake in Asia's largest animal feed company Gold Coin Management Holdings in 2018. Moreover, the increasing demand for feed materials due to declining grazing land is expected to foster the growth of the market. The collection and storage issues with traditional feedstuffs is also predicted to bode well for the market.

However, availability & use of cheaply priced substitute products grown at the farms (ease of access) is predicted to hamper the growth of the market. The low purchasing power, inadequate extension, along with poor infrastructure are factors predicted to inhibit the growth of the market in the forthcoming years.

Presence of Key Players to Boost Growth in Asia Pacific

Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific, followed by Europe, are expected to dominate the global market during the forecast period owing to the presence of significant players in the region. Countries such as Germany, France, Italy, Netherland, and Belgium) have accounted for 50% of the market share in Europe owing to the growing adoption of compound feed.

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Some of the Major Companies in the Global Compound Feed Market include:

• CP Group
• New Hope Group
• Alltech
• ADM
• Cargill
• Land O’ Lakes
• Wens Food Group
• and others

Vegetable Puree Market To Hit a CAGR of 5.40% by 2021-2028

The global vegetable puree market size is expected to gain momentum by reaching USD 14.40 billion by 2028 while exhibiting a CAGR of 5.40% between 2021 to 2028. In its report titled “Vegetable Puree Market, 2021-2028,”. Fortune Business Insights mentions that the market stood at USD 9.59 billion in 2020.

Convenience foods have taken populations by storm due to their schedules getting increasingly hectic and health taking a back seat. Vegetable mashes offer an immediate solution to nutrition needs and prevent people from eating unhealthy in-between meals. Puree, in particular, has garnered roaring popularity, and its demand is escalating in households as well as restaurants and hotels.

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List of Key Market Players Profiled in this Market Report

• Nikken Foods Co. Ltd. (Tokyo, Japan)
• Sun Impex (Dubai, UAE)
• Conrox Agro and Food Pvt. (Maharashtra, India)
• Dohler GmbH (Darmstadt, Germany)
• Del Monte Foods Inc. (California, United States)
• Ingredion Incorporated (Illinois, United States)
• SVZ Industrial Fruit and Vegetable Ingredients (Netherlands)
• Baby Gourmet Foods Inc. (Calgary, Alberta)
• Encore Fruit Marketing Inc. (San Dimas, California)
• Kagome Co. Ltd. (Tokyo, Japan)

COVID-19 Impact

The market growth suffered a setback due to the severe downturn in groceries and supermarket activities amid the COVID-19 pandemic. When the contagion broke out in March 2020, several countries announced strict lockdowns and imposed social distancing rules to curtail the coronavirus spread. As workers in the food industries were not at work, it severely impacted its production, and it further led to a sharp dip in revenues. However, the sales of vegetable puree and other plant-based foods remained functional through online services. Thus, the market is expected to regain its momentum during the forecast period.

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Market Segmentation:

By the product type, the market is divided into carrot, spinach, tomato, and pumpkin.

Based on product type, the carrot segment held a market share of 15.50% in 2020. This is attributable to increased demand for carrot purees in infant food preparation as well as adults owing to its high health benefits. 

On the basis of application, the market is segmented into ready-to-eat/ cook products, infant nutrition, and beverages. By nature, the market is divided into organic and conventional. Finally, based on region, the market is categorized into North America, Europe, Asia-Pacific, and South America.

What does the Report Provide?

The market for vegetable puree provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships and collaboration that will further contribute to the market growth.

Driving Factor 

Shift towards Veganism to Favor the Market Growth

The rising awareness about veganism worldwide is expected to fuel vegetable puree market growth. Reports from Forbes suggest that in the U.S. inclination towards veganism has increased. It grew from 1% to 6% between 2014-2017. Consumers are replacing meat with plant-based products, to maintain their protein intake while keeping their cholesterol in check. As animal protein is high in fat, this leads to heart problems. Apart from being vegan it also promotes gut wellness and boosts immunity, which is of high importance in these pandemic times. Thus, in the middle of a pandemic, the demand for plant-based food and everages is expected to rise.

Regional Insights

Increasing Demand for Healthy Food is Expected to Drive North America’s Market 

North America is expected to hold the highest vegetable puree market share during the forecast period. The market stood at USD 3.53 billion in 2020. The growing consumer preference toward healthy food has witnessed a dramatic rise. For instance, in February 2021, the National Center for Health Statistics of the Centers for Disease Control and Prevention, U.S., stated in its research report that 95.1% of adults in the U.S consume vegetables on any given day. Thus, demand for vegetable products is expected to see growth in the region. North America stood at USD 3.53 billion in 2020.

Europe is expected to showcase significant market growth in upcoming years. In this region, the market is primarily driven by sales of ready-to-cook products. For instance, the report from the Ministry of Foreign Affairs mentioned that in Europe 2020, consumers’ eating habits shifted from traditional breakfast to convenient food such as smoothies and shakes. Thus it has promoted demand for plant-based products in the region. are choosing new options such as smoothies and soups has prompted the demand for vegetable puree.

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Competitive Landscape

Key Players to Focus on Acquisitions to Strengthen Their Positions

The market is consolidated by major companies striving to maintain their position by focusing on facility expansion and launching new products. For instance, SVZ Industrial Fruit and Vegetable Ingredients declared that the company increased its production capacity in Othello (WA). This was done by merging aseptic puree processing and packaging units, to meet the demand for quality fruits and vegetable products. Moreover, other key players are adopting proactive strategies such as new partnerships, mergers, and collaborations to favor the market's growth in the upcoming years.

Key Industry Development

February 2020: Kagome Foods India Pvt Ltd. launched its tomato-based range in India. This new range comrises crushed tomatoes, tomato concentrate and tomato puree, and other products.