Chocolate Confectionery Market to Hit USD 136.42 billion by 2027 | At a 2.3% of CAGR

The global chocolate confectionery market size is projected to reach USD 136.42 billion by 2027, exhibiting a CAGR of 2.3% during the forecast period. Widespread awareness regarding the potential health benefits of chocolate is expected to play a central role in driving the growth of this market, states Fortune Business Insights™ in its report, titled “Chocolate Confectionery Market Size, Share & COVID-19 Impact Analysis, By Type (Dark, Milk, and White), Category (Premium, Seasonal, and Everyday), and Regional Forecast, 2020-2027”. Chocolate products, especially dark chocolate, offer a plethora of health benefits. Dark chocolate and cocoa are known to have more flavanols, polyphenols, and antioxidants compared to acai berries, blueberries, and many other naturally occurring consumable foods. Further, a dark chocolate bar holds considerable amounts of iron, copper, and fiber, bolstered with an additional variety of other nutrients. A research study in the National Institutes of Health found that consuming dark chocolate helps regulate blood pressure more efficiently as the presence of flavanols can activate the lining within the arteries, reducing the impediments to blood flow and lowering the risk of heart disorders. These benefits of dark chocolate are surging their consumption, which is propelling the global market growth.

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The report states that the global market value stood at USD 114.33 billion in 2019 and shares the following:

• Thorough analysis of the short-term and long-term impact of the COVID-19 pandemic on the market;
• Actionable insights into the upcoming opportunities in the market;
• Tangible research into the market, drivers, restraints, and segments; and
• In-depth examination of the regional developments, competitive landscape, and upcoming investment pockets for the market.

Market Restraints

Shrinking Sales amid COVID-19 Pandemic to Stall Market Growth

The chocolate confectionery market growth is expected to be hit by the coronavirus pandemic as lockdown and social distancing measures have forced consumers to stay at home and retail shops to close down, albeit temporarily. Moreover, severe global economic downturn has led to job losses and plummeting revenues for businesses, which has arrested spending on non-essential foods such as chocolate products. This, in turn, has contracted sales of some of the major players in the chocolate confectionery industry. The Hershey Company, for instance, reported in April that its international net sales dipped by 8.1% to USD 192.5 million. Similarly, in July 2020, Lindt & Spruengli, the Swiss chocolate maker, announced a fall in organic sales by 5-7% in the current year owing to store closures forced by COVID-19.

List of Key Players Covered in the Chocolate Confectionery Market Report are:

• Mars Inc. (Virginia, U.S.)
• The Hershey Company (Pennsylvania, U.S.)
• Mondelez International (Illinois, U.S.)
• Ferrero SpA (Alba, Italy)
• Nestle S.A. (Vevey, Switzerland)
• Ezaki Glico Co., Ltd. (Osaka, Japan)
• Meiji Holdings Co., Ltd. (Tokyo, Japan)
• HARIBO GmbH & Co. KG (Bonn, Germany)
• Chocoladefabriken Lindt & Sprungli AG (Zürich, Switzerland)
• Barry Callebaut (Zürich, Switzerland)

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Regional Insights

North America to Have Dominating Lead in the Market Backed by High Demand for Premium Chocolates

With a market size of USD 19.50 billion in 2019, North America is anticipated to lead the chocolate confectionery market share during the forecast, mainly owing to the high demand for premium chocolate snacks and products among the consumers in the region. However, in the US, whose market volume stood at 1,410.20 thousand tons in 2019, the market is expected to experience limited growth owing to increasing resistance to high-sugar chocolate confectioneries and rising preference for low-sugar confectionery items.

In Europe, chocolate items are a central component in festivals in the region, which is the major factor augmenting the market growth. In Asia-Pacific, per capita consumption of chocolate products is increasing as a result of growing disposable income in the region. Large proportion of young population and evolving taste preferences are having a considerable influence on the growth trajectory of the market in the region.

Competitive Landscape

Heavy Investments in R&D by Key Players to Create Healthy Competitive Atmosphere

The market for chocolate confectioneries is characterized by a healthy competitive climate as top companies are directing their energies towards elevating their R&D capabilities. Moreover, some players in this market are also engaging in efforts towards establishing sustainable agriculture practices in key cocoa producing regions.

Industry Developments:

• July 2020: Mars, Incorporated announced its collaboration with World Agroforestry and the International Fund for Agricultural Development to initiate a 5-year-long research project called Sustainable Farming in Tropical Asian Landscapes. The project will be directed towards sustainably connecting small-scale cocoa and palm oil producers in Indonesia and the Philippines to global supply chains.
• October 2019: India-based ITC Limited released the world’s most expensive chocolate under its Fabelle brand. Priced at INR 4.3lakh per kilogram, the limited edition luxury chocolate dubbed ‘Trinity – Truffles Extraordinaire’ entered into the Guinness Book of World Records as the world’s costliest chocolate product.

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Asia Pacific Cocoa and Chocolate Market to Hit USD 8,892.57 million by 2027

The Asia Pacific cocoa and chocolate market size is expected to gain momentum by reaching USD 8,892.57 million by 2027. This is attributable to the growing purchase capacity of the consumers that propel the demand for exotic cocoa and chocolate products. Fortune Business Insights, in its latest report, titled, “Asia Pacific Cocoa and Chocolate Market Size, Share & COVID-19 Impact Analysis, By Type (Cocoa and Chocolate), Application (Food and Beverage, Cosmetics, Pharmaceuticals, and Others), and Country Forecast, 2020-2027.”, mentions that the market stood at USD 6,019.15 million in 2019 and is likely to exhibit a CAGR of 5.42% between 2020 and 2027.

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What does the Report Include?

The market report includes a detailed assessment of various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market strongholds between 2020 and 2027. 

DRIVING FACTORS

Increasing Consumer Spending Power to Augment Market Growth

According to the data by Forbes, there are around 778 billionaires in Asia Pacific as of 2020. In addition to this, about 38% of the global super-rich reside in the region, the most when compared to other regions. The presence of high net-worth individuals (HNWI), along with the increasing spending capacity of the consumers, is leading to the surging demand for Asia Pacific cocoa and chocolate confectionery. In addition to this, the growing consumption of chocolate products owing to its beneficial properties is expected to contribute to the growth of the Asia Pacific cocoa and chocolate market in the forthcoming years.

COUNTRY INSIGHTS

Increasing Demand for Exotic Chocolate Flavors in Southeast Asia to Aid Growth

Among all the countries, Southeast Asia is expected to remain at the forefront and hold the highest position in this market in the forthcoming years. This is attributable to the increasing demand for exotic flavors and filling of Asia Pacific cocoa and chocolate products. Southeast Asia stood at USD 1,763.65 in 2019.

Japan, on the other hand, is expected to hold the second position in the market during the forecast period. This is ascribable to the growing consumption of chocolates owing to its beneficial properties such as stress buster, anti-aging, and healthy content in the country between 2020 and 2027.

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SEGMENTATION

Cocoa Segment Held 38.76% Market Share in 2019

The cocoa segment, based on type, held a market share of about 38.76% in 2019 and is projected to showcase an exponential growth owing to the surging demand for dark chocolates that have less sugar and fat content.

COMPETITIVE LANDSCAPE

Key Players Focus on Product Expansion by Acquiring Other Small Companies

The Asia Pacific cocoa and chocolate market is consolidated by the presence of key players that are focusing on acquiring other small companies to boost their cocoa & chocolate product line. Additionally, the major companies are adopting strategies such as partnership, the introduction of new products, and collaboration to maintain a stronghold in the fiercely competitive global marketplace during the forecast period

Industry Development:

February 2019 – Olam International announced the acquisition of the Indonesia-based, BT Cocoa. The acquisition is expected to strengthen its position backed by the growing consumption of Asia Pacific cocoa and chocolate products.

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Pisco Market to Hit USD 1,057.8 million by 2027 | At a CAGR of 6.2%

The global pisco market size is projected to reach USD 1,057.8 million by 2027, exhibiting a CAGR of 6.2% during the forecast period. Increasing awareness about the potential health benefits of pisco will play a central role in augmenting the development of this market, observes Fortune Business Insights™ in its report, titled “Pisco Market Size, Share & COVID-19 Impact Analysis, By Origin (Peruvian and Chilean), Type (Puro, Acholado, and Others), and Regional Forecast, 2020 – 2027”. Pisco is a certain type of brandy that is derived from fermented grape juice. The drink is native to Chile and Peru, where pisco is considered the national beverage. Not only does pisco have an exotic taste but it also offers some distinct health benefits to drinkers. For example, drinking pisco after meals stimulates secretion of gastric juices, thus aiding digestion.

Moreover, in case of hypothermia, adding pisco in hot tea along with lemon and honey can bring instant warmth to the body and prevent the body temperature from rising suddenly. In addition to this, flu-induced sore throat and fever can also be relieved by taking pisco-based tinctures. Thus, this Peruvian-Chilean drink promises a host of advantages related to health, which will increase its consumption around the world.

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List of Key Companies Profiled in the Pisco Market Report:

• Pisco Portón (Ica, Peru)
• Catan Pisco (Chicago, United States)
• Pisco MalPaso (Coquimbo, Chile)
• Barton Solvent Inc. (Peru)
• Cooperativa Agricola Pisquera Elqui Ltda (Santiago, Chile)
• Compañia Cervecerias Unidas (Las Condes, Chile)
• Pisquera Tulahuen SpA (Monte Patria, Chile)
• La Diablada Pisco (Peru)
• Bauzá (Chile)
• Macchu Pisco (Peru)

Restraining Factors

Staggered Operations of Hotels & Bars amid COVID-19 to Restrict Market Growth

The pisco market growth is facing massive impediments amid the COVID-19 as the pandemic led to the initial closure and subsequent staggered opening of bars and restaurants in major economies. In the US, for example, the states of Florida and Texas announced that bars will have to shut down to stop the spread of the coronavirus, when cases spiked in June 2020.

In March, when the pandemic erupted, several casinos in Las Vegas closed their operations, while states such as Ohio and California directed bars and restaurants to announce temporary closures. Even now, with countries slowly restoring economic activities, bars are being forced to follow strict time and social distancing regulations. For example, in the UK, bars have been instructed to close down by 10pm, while in India the Maharashtra state government has allowed bars and restaurants to function with limited capacity. The imposition of the coronavirus-induced lockdown and social distancing measures on bars is, therefore, likely to stymie the demand and consumption of exotic alcoholic beverages such as pisco.

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The report states that the global market value stood at USD 670.5 million in 2019 and provides the following:

• Comprehensive insights into the different segments of the market;
• Tangible analysis of the market drivers, restraints, trends, and opportunities;
• Detailed profiling and evaluation of the key market players and their strategies; and
• Thorough examination of the regional prospects of the market.

Regional Insights

South America to Occupy Driver’s Seat; Europe to Present Exciting Prospects

At USD 374.4 million, South America dominated the pisco market share in 2019 as the region is home to the two largest producers of the drink in the world, Peru and Chile. Companies in this region are constantly innovating and developing unique alcoholic blends to cater to the growing popularity of exotic drinks in North America and Europe. Moreover, the companies are also producing premium pisco variants for the domestic as well as the international market.
Europe is slated to emerge as the second-largest region for this market due to the surging demand for traditional foreign alcohols across the continent. In Asia Pacific, the market outlook appears wide and bright on account of the deepening cultural and trade relations among Asian and South American countries.

Competitive Landscape

Cooperative Agreements and Measured Expansions to Spur Competition
With pisco gaining widespread popularity, grape producers and alcohol companies in Chile and Peru are seeking agreements that can help farmers as well as the key market players. These mutually beneficial deals are crucial as they provide incentives to key players to innovate and expand their operations, while farmers are encouraged to produce more and adopt modern farming technologies.

Industry Developments:

• June 2020: The Cooperativa Agrícola Pisquera Elqui Ltda. (Capel) and the Instituto de Desarrollo Agropecuario (Indap)renewed their Agreement of the Productive Alliance. Under this renewal, 76 small pisco grape farmers in the Limarí and Choapa provinces of Chile will have assured access to technical expertise for modern irrigation and environmental practices.
• May 2019: Catan Pisco announced its expansion in Los Angeles, following the company’s establishment in Chicago in 2018. The company will mark its presence with a celebratory event at the Museum of Latin American Art in Long Beach.

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Hydrocolloids Market to Hit USD 13.30 billion by 2027 while exhibiting a CAGR of 5.13% by 2020-2027

The global hydrocolloids market size is expected to experience substantial growth by reaching USD 13.30 billion by 2027 while exhibiting a CAGR of 5.13% between 2020 and 2027. This is attributable to the growing demand for convenience food products and the growing awareness regarding the benefits of clean-labeled additives such as hydrocolloids across the globe. Fortune Business Insights in its latest report, titled, “Hydrocolloids Market Size, Share & Industry Analysis, By Type (Xanthan Gum, Carrageenan, Guar Gum, Gelatin, and Others), Source (Microbial, Animal, Seaweed, and Others), Application (Food & Beverages, Pharmaceuticals, and Cosmetics & Personal Care), and Regional Forecast, 2020 – 2027.”, observes that the market stood at USD 9.07 billion in 201

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List of Top Companies Profiled in the Global Hydrocolloids Market:

• Kerry Group plc (Tralee, Ireland)
• Koninklijke DSM N.V. (Heerlen, Netherlands)
• Cargill, Incorporated (Minnesota, United States)
• Archer-Daniels-Midland Company (Illinois, United States)
• DuPont de Nemours, Inc. (Delaware, United States)
• Ashland Global Holdings Inc. (Delaware, United States)
• J.M. Huber Corporation (New Jersey, United States)
• W Hydrocolloids, Inc. (Philippines)
• Ingredion, Incorporated (Illinois, United States)
• Tate & Lyle plc (London, United Kingdom)

Hydrocolloids are polymers, mostly proteins, and polysaccharides, that have the property of forming gels or viscous dispersion when combined with water. Additionally, their ability to provide the right viscosity, structure, and texture to several food products enables their wider adoption in manufacturing several food products worldwide.

What does the Report Provide?

The market report provides a qualitative and quantitative 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 announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market. Moreover, the research analyst has adopted several research methodologies such as Porter’s Five Forces analysis to extract information about the current trends and industry developments that will drive the market growth between 2020 and 2027

SEGMENTATION:

By Type

• Xanthan Gum
• Carrageenan
• Guar Gum
• Gelatin
• Others

By Source

• Microbial
• Animal
• Seaweed
• Others 

By Source

• Microbial
• Animal
• Seaweed
• Others

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KEY DRIVING FACTORS

Increasing Demand for Convenient Food Products to Aid Growth

The increasing awareness regarding the consumption of clean-labeled food products is likely to drive the adoption of clean-labeled additives such as hydrocolloids. The growing demand for healthy, convenient food products owing to high nutritional content is expected to boost the adoption of the products globally. Moreover, the rising healthy issue due to the consumption of harmful fatty foods such as burgers, pizzas, and others is propelling consumers to adopt a healthy meal regime. These factors are likely to contribute to the global hydrocolloids market growth in the forthcoming years. 

MAJOR SEGMENTATION

Food & Beverages Segment to Hold Major Market Share

The food & beverages segment, based on application, is expected to experience considerable growth in the forthcoming years. This is ascribable to factors such as the growing demand for natural and nutritious food products that contain hydrocolloids worldwide.

REGIONAL INSIGHTS

Asia-Pacific to Remain Dominant; Presence of Manufacturing Units to Promote Growth

Among all the regions, Asia-Pacific is expected to remain at the forefront and hold the highest position in the global hydrocolloids market during the forecast period. This is attributable to the presence of hydrocolloid manufacturing units in countries such as India, Thailand, China, and Indonesia in the region. Asia-Pacific stood at USD 3.44 billion in 2019.

On the other hand, North America is expected to showcase exponential growth backed by the growing demand for fortified convenience food products that is likely to drive the adoption of hydrocolloids in the region between 2020 and 2027.

COMPETITIVE LANDSCAPE

Prominent Companies Focus on Facility Expansion to Amplify Their Market Positions

The global market is consolidated by the presence of key players focusing on expanding their production facility into developing innovative hydrocolloids to cater to the growing demand for functional food products. Additionally, other key players are striving to maintain their footprint by adopting strategies such as partnership, the introduction of new products, and merger and acquisition that will boost the market growth during the forecast period. 

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Oats Market to Hit USD 6.90 billion, exhibiting a CAGR of 3.8% by 2020-2027

The global oats market size is expected to reach USD 6.90 billion, exhibiting a CAGR of 3.8% during the forecast period. The growing consumption of whole-grain foods owing to its health benefits will enable speedy expansion of the market, states Fortune Business Insights, in a report, titled “Oats Market Size, Share & Industry Analysis, By Type (Steel Cut, Whole Oats, Instant Oats, and Others), Application (Bakery and Confectionery, Breakfast Cereals, Animal Feed, and Others), and Regional Forecast, 2020 – 2027.” The market size stood at USD 5.18 billion in 2019.

The occurrence of coronavirus has exerted massive economic stress onto sectors in various countries. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.

We are perpetually working on our reports to help uplift businesses in this crucial time. Our expertise and experience can offer enormous benefits to help regain during this global pandemic. 

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The report on the oats Market illustrates:

• Prominent insights into the market
• Predictive analysis with key data
• Latest market trends and developments
• Stellar insights into the competitive landscape
• Crucial data about regional players
• COVID-19 Impact

Market Driver:

Significant Utilization in Animal Feed to Drive Market

The vast application of oats in the animal feed industry owing to its properties to improve feed value will foster the growth of the market. The higher fat content compared to other cereals enhances energy content in the feedstock. Similarly, it adds key components for easy digestibility in animals. The balanced amino acid composition along with palatability makes it ideal for poultry, horses, and piglets. Thus, boosting the growth of the market. However, the wide availability of whole grains such as wheat, barley, sorghum, and quinoa that possess nearly the same nutritional profile can as an obstruction for the growth of the market. Besides, heavy demand for barley owing to its negligible cholesterol and triglyceride levels can further dampen the growth of the market.’

Mass Disruption in Food Industry to Impede Development during Coronavirus

The lockdown imposed by the governments has disturbed the supply chain activities, resulting in market closure and disrupted the food services sector. The food manufacturers and processors are observing several inhibitions in their operations. The shutdown of hotels, restaurants, & Café has negatively impacted the global market. Nevertheless, the production remained unaffected as deliveries of seeds, fertilizers, and crop protection was made available by the governments. Moreover, the ease accessibility of food supplies and commodities by the governments can aid in recovering losses and incite remunerative business outcomes.

Regional Analysis:

Increasing Health-Conscious Consumers to Aid Growth in Europe

The market in Europe is expected to hold a significant share during the forecast period owing to the high production in countries such as Russia, the U.K., Italy, and Spain. The increasing health consciousness among consumers to boost growth in the region. The increasing demand for healthy grain-based snacks will bolster the growth of the global market in Europe. The hectic lifestyles of European consumers have led to high nutritional food products. Hence, increased production and consumption in European Countries will spur opportunities for the market. North America is expected to hold the largest share in the global market owing to the growing consumption of porridge or oatmeal as a staple food.

Key Development:

November 2018: Nestle SA announced that it has added a new product to its cereals range containing whole grains, called Oat Cheerios breakfast cereals in the UK.

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The Report Lists the Key Companies in the Oats Market:

• Quaker Oats Company (PepsiCo, Inc.) (New York, U.S.)
• Morning Foods Ltd. (Crewe, United Kingdom)
• The Kellogg Company (Michigan, U.S.)
• Richardson International Ltd. (Winnipeg, Canada)
• Bob’s Red Mill Natural Foods, Inc. (Oregon, U.S.)
• Avena Foods Ltd. (Regina, Canada)
• Glanbia, Plc. (Kilkenny, Ireland)
• The Ancient Grains, Co. (Kildare, Ireland)
• Aussee Oats Milling Pvt Ltd (Gampaha, Sri Lanka)
• Blue Lake Milling (SA, Australia)

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

The global nutraceuticals market 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.

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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.

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.

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.

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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)

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.

Confectionery Market Size to Hit USD 242.53 billion by 2028, registering at a CAGR of 3.8%

The global confectionery market size is projected to reach USD 242.53 billion by 2028, registering a CAGR of 3.8% during the forecast period. Rising health consciousness among consumers will play a key role in augmenting the growth of this market, shares Fortune Business Insights™ in its recent report, titled “Confectionery Market, 2021-2028”. The market size stood at USD 188.52 billion in 2020.

Manufactured chocolate bars and candies are known to contain large amounts of artificial sweeteners. With increasing prevalence of lifestyle-related disorders, even the most ardent chocolate-lovers are getting increasingly inclined towards organic and natural ingredients-based products. For example, the Swiss chocolate-maker Barry Callebaut’s research found that the market value for organic chocolates currently stands at €30 million in Western Europe alone. This figure shows that the shifting consumer preference for chocolate and other confectionery items made from naturally-derived extracts will lead the confectionery market trends in the foreseeable future.

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List of the Companies Profiled in the Global Market are:

• Barry Callebaut (Zürich, Switzerland)
• Ferrero SpA (Alba, Italy)
• Nestle S.A. (Vevey, Switzerland)
• Mondelez International, Inc. (Illinois, U.S.)
• Meiji Holdings Co., Ltd. (Tokyo, Japan)
• The Hershey Company (Pennsylvania, U.S.)
• Chocoladefabriken Lindt & Sprungli AG (Zürich, Switzerland)
• Ezaki Glico Co., Ltd. (Osaka, Japan)
• HARIBO GmbH & Co. KG (Bonn, Germany)
• Pladis Global (London, U.K.)

Driving Factor:

Hectic Lifestyles to Foster Sales Opportunities

Global economic growth and development have led to an explosion of job and business opportunities. Greater access to education and skill development have expanded the number of employable people around the world, resulting in more working people and more office spaces, especially in large urban conglomerations. As a result, modern lifestyles have become more hectic and stressful, with unfortunate consequence being on health and fitness of people.

Therefore, many consumers are now demanding on-the-go confectionery snacks, preferably having low sugar and fat. Chocolate, owing to its numerous health benefits, is the most consumed product in the world, and many companies are now developing sugar-free and organic chocolate items to cater to the health-conscious urban populace. Furthermore, chocolate consumption has positive physiological effects. The Loma Linda University Adventist Health Sciences Center in California found, through a research study, suggested that chocolate consumption positively impacts brain health and reduces stress and inflammation.

The report further contains answers to the following questions:

• What are the major factors driving the market?
• What are the main hurdles that the market is facing and will face in the future?
• What are the key market segments?
• Which region or regions hold the largest potential for the market to grow?
• How are the competitive dynamics shaping the market?
• Who are the prominent players in this market and what are their key strategies?

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SEGMENTATION

By Type

• Chocolate
• Sugar
• Gums

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Departmental Stores
• Online Retail

Regional Insights:

Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory

With a market revenue of USD 73.41 billion in 2020, Europe is slated to dominate the confectionery market share in the coming years, primarily on account of high consumption chocolate items. Consumers are increasingly demanding premium and customized confectionery products and are willing to pay for such items, prompting companies to manufacture and deliver superior offerings in the region.

Asia-Pacific holds tremendous growth opportunities for this market owing to rising disposable income, increasing young and working-age population, and rapid urbanization. As a result, many players are implementing different strategies to establish themselves in the Asia-Pacific region, especially China and India.

Competitive Landscape

Launch of Natural Extracts-derived Products to Spur Competition

The market forecast envisages a period of cutthroat competition in this market as companies deploy various strategies to meet the escalating demand for organic confectionery items. Besides this, many players are also attempting to broaden their business horizons by introducing novel offerings in foreign markets.

Key Industry Developments:

March 2021: Barry Callebaut released a new chocolate and compound manufacturing facility in Baramati, India to strengthen its position in this industry.

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Shrimp Market Size to Hit USD 53.63 billion in 2028, exhibiting a CAGR of 6.81% by 2021-2028

The global shrimp market size was USD 28.45 billion in 2020. It was valued at USD 33.81 billion in 2021 and reached USD 53.63 billion in 2028, exhibiting a CAGR of 6.81% during the forecast period. Innovations in the seafood sector and the rising trend of flexitarian diet are expected to boost the market growth. Fortune Business Insights™ presents this information in its report titled “Shrimp Market, 2021-2028.”

Rising technological advancements in the seafood sector are expected to boost seafood products' demand. The rising demand for healthy snacking leads to the adoption of shrimp in consumers’ diets. Further, rising focus on the supply and storage of seafood is expected to surge the product demand. Moreover, the rising trend of flexitarian trends is expected to boost the product adoption. In addition, the entry of new players is expected to bolster market development in the coming years.

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COVID-19 Impact:

Disruptions in Supply Chain and Reduced Seeding Activities to Impede Market Progress

This market is expected to be negatively affected during the COVID-19 pandemic due to disruptions in the supply chain. The sudden spike in COVID infections led to the adoption of lockdown, thereby negatively affecting seeding and storage activities. Furthermore, the halt on transport led to wastage, thereby affecting business. Moreover, lack of raw materials led to a decline in seeding activities. However, the adoption of reduced capacities, technologically advanced production machinery, and sanitization methods may enable manufacturers to recover their losses. These factors may positively impact market development during the pandemic.

Segmentation

Type, Form, End-user, Distributional Channel, and Region are studied for the Market

By type, the market is segmented into brown, white, pink, and others. As per form, it is classified into canned and frozen. Based on end-user, it is classified into commercial and residential. On the basis of distributional channel, it is categorized into online sales channels, specialty stores, convenience stores, and hypermarkets/ supermarkets. Geographically, it is grouped into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Rising Demand for High Protein Diet and Sustainable Seafood Choices to Foster Market Growth

Consumers' demand for a healthy protein-rich diet and rising spending is expected to propel the demand for the product. As a result, manufacturers focus on developing better storage and preservation techniques to provide fresh foods to consumers. Furthermore, support for fishing activities from several countries is expected to boost industry growth. In the U.S., sustainable fishing initiatives are helping to spread awareness regarding seafood consumption. The National Oceanic and Atmospheric Administration (NOAA) supports U.S. participation in several global fisheries agreements and takes several measures to tackle illegal fishing. These factors may bolster the shrimp market growth during the upcoming years.

However, trade wars between several countries are expected to hinder the market's progress.

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Regional Insights

Rising Adoption of the Crustaceans in Cuisines to Foster Market Development in Asia Pacific

Asia Pacific is expected to dominate the shrimp market share due to the adoption of seafood in several cuisines in India, China, Japan, Vietnam, and Australia. The market in Asia Pacific stood at USD 10.74 billion in 2020 and is expected to gain a considerable share globally. Further, the rising adoption of crustaceans from the foodservice sector is expected to bolster market development. These factors may propel industry development.

In North America, robust demand for big-sized decapod crustaceans and brown shrimps is expected to fuel the industry's development. Further, the rising adoption of seafood as a protein source and increasing import activities are expected to bolster the market growth.

In Europe, the rising popularity of decapod crustaceans from consumers is expected to bolster market development. In addition, the rising adoption of seafood products may fuel market development.

Competitive Landscape

Major Players Acquire Companies to Increase Resources and Establish Market Presence

Prominent companies operating in the market devise acquisition strategies to increase their resources and dominate their presence. For example, Cooke aquaculture acquired a Honduras-based decapod crustacean producer “Seajoy” in February 2019. This acquisition may enable Cooke to establish a remarkable brand presence globally. Furthermore, the adoption of research and development, mergers, novel product launches, partnerships, and expansion strategies may enable companies to boost their brand image globally.

Industry Development

• March 2021: BioMar acquired a major share of Viet-Uc to expand its presence in fish hatcheries, shrimp farming, and shrimp hatcheries industries.

List of Key Players Profiled in the Report

• Aqua Star Corp. (Seattle, U.S.)
• Avanti Feeds Ltd. (Hyderabad, India)
• Clearwater Seafoods Inc. (Bedford, Canada)
• High Liner Foods Inc. (Lunenburg, Canada)
• Marine Harvest (Bergen, Norway)
• Maruha Nichiro Corporation (Tokyo, Japan)
• Nippon Suisan Kaisha (Tokyo, Japan)
• Nordic Seafoods A/S (Hirtshals, Denmark)
• Surapon Foods (Muang, Thailand)
• Thai Union Group (Bangkok, Thailand)

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Gluten free Food Market Size to Hit USD 9.99 billion in 2028, exhibiting a CAGR of 8.29% during 2021-2028

The global Gluten Free Food Market size was valued at USD 5.25 billion in 2020. The market is estimated to grow from USD 5.72 billion in 2021 to USD 9.99 billion in 2028, exhibiting a CAGR of 8.29% during the forecast period. The increasing popularity of the product’s benefits, rising demand for functional foods, and increasing product innovations are expected to fuel the market growth. Fortune Business Insights™ mentions this information in its report titled “Gluten free Food Market, 2021-2028.”

Gluten-free food is produced for people suffering from gluten allergies and celiac diseases. The consumption of gluten can be damaging and may lead to intestine swelling. Therefore, the consumption of the product is expected to increase rapidly. Furthermore, rising awareness regarding the health benefits of such products is expected to increase adoption. Moreover, rising demand for functional foods and increasing product innovations may attract sales. These factors are expected to foster industry development in the coming years.

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List of Key Players Profiled in the Report:

• The Kraft Heinz Company (Illinois, U.S.)
• The Hain Celestial Group Inc. (New York, U.S.
• General Mills Inc. (Minnesota, U.S.)
• Kellogg’s Company (Michigan, U.S.)
• Conagra Brands, Inc. (Illinois, U.S.)
• Barilla G.E.R Fratelli S.P.A (Parma, Italy)
• Noumi Limited (Australia)
• Enjoy Life Foods (Mondelez International) (Illinois, U.S.)
• Alara Wholefoods Ltd. (London, U.K.)
• Prima Foods Ltd. (South Wales, U.K.)

Segments

Type, Distributional Channel, and Region are Studied

By type, the market is segmented into baby food, pastas & pizzas, snacks & RTE products, bakery products, and condiments & dressings. As per the distributional channel, it is categorized into supermarkets/hypermarkets, convenience stores, specialty stores, drugstores & pharmacies, and online retails. Geographically, it is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving & restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and strategies undertaken by the market's key players.

Drivers and Restraints

Rising Prevalence of Gluten Intolerance and Celiac Disease to Fuel Market Progress

The rising prevalence of gluten intolerance and celiac diseases is expected to boost the adoption of gluten-free food. As per the information provided by the Clinical Gastroenterology and Hepatology journal, nearly 1.4% global population is detected with celiac disorder. Furthermore, the rising demand for free-from and convenience foods is expected to boost the product adoption. Furthermore, rising reliability on nutritional convenience foods is expected to increase the adoption of the product. Moreover, the rising adoption of flavored food products with nutritional benefits is expected to bolster the Gluten free Food Market growth.

However, higher product prices and low market penetration are expected to hinder the market’s progress.

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Regional Insights

Growing Inclination Towards Healthy Diet to Boost Industry Progress in North America

North America is expected to dominate the Gluten free Food Market share due to the growing inclination toward a healthy diet. The market in North America was USD 2.72 billion in 2020 and is expected to achieve a high market share in the coming years. Further, rising awareness regarding celiac disorder from consumers and the availability of a gluten-free diet products are expected to boost the market development.

In Europe, rising demand for free-from products from Germany, Italy, and the U.K. is expected to boost gluten-free products’ adoption. Furthermore, manufacturers focus on developing innovative foods such as gluten-free pasta to boost sales. These factors may propel the market development.

In Asia Pacific, rapid digitization and westernization lead to the acceptance of gluten-free food products. Furthermore, the growing artisanal bakery sector is expected to boost market progress.

Competitive Landscape

Manufacturers Focus on Launching Novel Products to Boost Brand Image

Prominent companies operating in the market devise novel product launches to attract consumers and boost brand image. For example, in June 2021, Ulrick & Short Limited announced fazenda Nutrigel, a gluten-free functional flour, to improve the viscosity and overall texture of gluten-free bakery foods. Through this launch, the company may attract consumers and boost its brand image. Furthermore, the adoption of research and development, expansions, acquisitions, and technologically advanced production techniques boosts the market player’s position.

Industry Development

• April 2021- Nestle SA launched gluten-free meals to satisfy consumers’ dietary habits and suit their lifestyles. It launched other protein-rich products such as Cauliflower Crust Chicken Mozzarella Piada, Triple Cheese Macaroni & Cheese Bowl, and Pasta Bolognese Bowl.

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Malaysia Culinary Coconut Milk Market to Hit USD 119.31 million in 2029 at a CAGR of 2.9% during 2022-2029

The malaysia culinary coconut milk market size was USD 67.34 million in 2021. The market is projected to grow from USD 71.96 million in 2022 to USD 119.31 million in 2029 at a CAGR of 2.9% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Malaysia Culinary Coconut Milk Market, 2022-2029.” Factors such as rising coconut cultivation and increasing demand for coconut in Malaysia and a global market will increase the footprint of the market during the forecast period. Additionally, increasing consumers towards vegetarianism & organic foods will boost the growth of the market.

COVID-19 Impact

Disruption in Supply Chains & Faltering Transport Sector to Decrease Growth Amid Pandemic

The COVID-19 pandemic led to several disruptions in various sectors. Restrictions on movement on the general population and shortage of workforces led to a decrease in the market volume. A gap in demand-supply and rising alternatives for healthy food products further decreased the demand for the market. However, as the pandemic loomed on, various players reported a rise in their revenues, as players began to adjust to the new method of functioning.

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List of Key Players Present in the Market

• S&P Industries Sdn. Bhd. (Malaysia)
• Santanmas Food Industries (M) Sdn Bhd (Malaysia)
• Linaco Manufacturing (M) Sdn. Bhd. (Malaysia)
• Tropical Produce Sdn Bhd (Malaysia)
• Mitra Sdn Bhd. (Malaysia)
• Eramas Group (Malaysia)
• M&S Food Industries Sdn Bhd (Malaysia)
• Kara Marketing Sdn Bhd (Malaysia)
• Gogoco Holding Sdn Bhd (Malaysia)
• Denis Group Holding S.A. (Switzerland) 

Segments

Product Type, Form, and Distribution Channel are Studied

Based on product type, the market is broken down into coconut milk, coconut milk powder, coconut cream, and coconut cream powder.

By form, the market is divided into powder and liquid.

With respect to distribution channel, the market is segmented into supermarket/hypermarkets, convenience stores, grocery stores, and online retailers.

Report Coverage

The market for Malaysia culinary coconut milk contains qualitative & quantitative insights by encompassing critical factors such as product types, distribution channels, market size, and growth rate of all segments. Additionally, factors such as a comprehensive analysis of the market with a forecast on a global scale have been provided. Also, ongoing mergers & acquisitions, regulatory scenarios, and key industry trends have been highlighted.

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Drivers & Restraints

Rising Utilization of Coconut Milk and Rising Awareness of Products to Augment Market Growth

Factors such as the rising availability of raw materials among manufacturers and increasing integration of products among traditional cuisines will boost the Malaysia culinary coconut milk market growth during the forecast period. Rising demand from the HORECA sector and rising awareness regarding the health benefits will increase the footprint of the market. Also, expanding quick-service restaurants and increasing consumer inclination among consumers toward veganism will further fuel the growth of the market.

However, the availability of alternatives will limit the growth of the market during the forecast period.

Regional Insights

Malaysia to Witness Huge Growth due to Increasing Tourism Sector

The rising middle-class economy and the inclination of a majority of the population to switch to coconut milk toward their regular cuisine will increase the footprint of the market in the region. Rising plant-based hunger among the general population and the rapidly advancing foodservice sector will fuel the growth of the market. Also, rising understanding of consumers toward maintaining a balanced lifestyle and increasing consumer expenditure will increase the penetration of the Malaysia culinary coconut milk market share.

Competitive Landscape

Product Development & Rising Focus Toward Introducing New Flavors to Help Prominent Players Gain Edge

The market for Malaysia culinary coconut milk is filled by rising consumer demand along with an increasing influence of culinary ingredients. Dominant players are focused on developing novel products focused on taste and texture to attract a larger consumer base. For example, in April 2021, Dunkin Brands announced that it will be integrating coconut milk as a dairy alternative across all restaurants to tend customized beverages. Smaller players are consolidating the remaining market share. Additionally, expanding their current product portfolio for meeting the rising consumer demand will further help the market integrate toward a competitive edge.

Industry Development

• December 2021 - Ayam Brand launched its organic coconut milk variant in Malaysia, which is made using free from hormone, pesticides, and GMO coconuts.

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Pregelatinized Starch Market to Hit USD 2.38 billion by 2028 at a CAGR of 4.3% by 2021-2028

The pregelatinized starch market size was valued at USD 1.72 billion in 2020. The market size is expected to rise from USD 1.77 billion in 2021 to USD 2.38 billion by 2028 at a CAGR of 4.3% during the projected period. The global market is expected to rise during the projected period due to rising starch demand in the food & beverage sector to store processed and ready-to-eat food packages. Fortune Business Insights™ publishes this information in a report titled, "Pregelatinized Starch Market, 2021-2028".

Pregelatinized starch is a form of carbohydrate that is cooked and dried to be converted into flaked or powder form. These starches are extracted from potatoes, wheat, and corn. The starches are used in ready-to-eat and processed foods and are efficiently digestible. Also, properties such as biodegradable are likely to foster market growth.

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List of Key Players Profiled in the Report:

• Cargill Incorporated (Iowa, U.S.)
• Tate & Lyle (London, U.K.)
• Visco Starch (Gujarat. India)
• Galam (Ma'anit, Israel)
• Banpong Tapioca Flour Industrial Co Ltd. (Bangkok, Thailand)
• Crest Cellulose (Andhra Pradesh, India)
• DFE Pharma (Tamil Nadu, India)
• Karandikars Cashell Private Limited (Maharashtra, India)
• Grain Processing Corporation (Iowa, U.S.)
• S A Pharmachem Pvt Ltd. (Maharashtra, India)

Segments:

Source, Application, and Region are Studied

By source, the market is divided into corn, wheat, potato, and others.

Based on application, the market is segmented into food & beverage, pharmaceutical, cosmetics, and others.

By geography, the market is categorized into Europe, Asia Pacific, South America, North America, and the Middle East & Africa.

Report Coverage:

The research report provides factual data regarding statistics and information regarding development trends and advancements in the industry. Also, innovative strategies and latest trends in the market are discussed along with industrial developments implemented by key players. The report focuses on various developments such as technological advancements and innovation activities adopted by prominent players in the industry.

Drivers & Restraints:

Rising Product Demand in Food & Beverage Sector to Bolster Market Expansion

The market is anticipated to propel market growth in the coming years, owing to increasing product demand in the food & beverage sector. Also, the product requirement in the cosmetics and personal care industry is likely to boost the market. Furthermore, the rising demand for ready-to-eat and processed food products in an emerging market is expected to increase product supply and bolster market expansion globally. These factors are likely to ensure the pregelatinized starch market growth during the forecast period.

However, the high energy required to process the starch is likely to hinder the market growth.

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Regional Insights:

Europe Dominates Global Market Due to Increasing Product Demand

Europe holds the most prominent global market share during the forecast period owing to the rising demand for personal care and cosmetic products. Increased utilization of starch in this sector is likely to propel market growth.

North America holds the second-largest global pregelatinized starch market share, owing to rising product demand in the food & beverage sector. The presence of key players in the region is expected to increase the production rate and rise the supply of the starch to various industries.

Competitive Landscape:

Innovation Strategies Allows Key Players to Maintain Market Position

The presence of key players in the global market encourages the companies to implement development strategies such as partnerships, mergers, and acquisitions. The companies operating in various segmented regions focus on implementing innovative strategies to develop product portfolio and ensure product differentiation to gain competitive advantage.

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Industry Development

• March 2020: Tate & Lyle, MIRA-Gel forms a gel at room temperature and is similar to the starch produced from cooked starches and heat-processed gel-forming agents or gums. These agents can be used for instant foods and cold processed starch.

A2 Milk Market to Worth USD 4.27 billion by 2029 at 11.0% CAGR during 2022-2029

The global A2 milk market size was pegged at USD 1.84 billion in 2021. The market is anticipated to surge from USD 2.03 billion in 2022 to USD 4.27 billion by 2029 at 11.0% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “A2 Milk Market, 2022-2029.”

According to the analysis, A2 protein will be highly sought-after for easy digestion among the lactose intolerant population. A notable surge in disposable income and burgeoning population will complement increasing awareness about the upsides of A2 milk across emerging and advanced economies.

COVID-19 Impact

Closure of Supermarkets Challenged Stakeholders

The prevalence of the demand-supply gap challenged stakeholders striving to overcome challenges stemming from the COVID-19 pandemic. The closure of supermarkets did not bode well for the business outlook. That said, the trend for online stores and the resumption of global trade prompted industry players to invest in R&D investments. The prevailing trends suggest a robust outlook globally, with major players poised to inject funds to boost their footprint.

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Major Players Profiled in the Report:

• The A2 Milk Company (New Zealand)
• Godrej Jersey (India)
• Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF) (India)
• PROVILAC Dairy Farms Pvt. Ltd. (India)
• Freedom Foods Group (Australia)
• Vinamilk (Vietnam)
• Erden Creamery Private Limited (India)
• Nestle S.A. (Switzerland)
• Vedaaz Organics Pvt. Ltd. (India)
• Ripley Farms (U.S.)

Report Coverage

The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has also delved into Porters’ Five Force analysis and SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.

Segments

Liquid Segment to be Sought-After Due to Rising Consumption

Based on form, the market is segmented into liquid and powder. The liquid segment will contribute notably to the global market during the forecast period, mainly attributed to rising consumption and convenience. Notably, fresh A2 milk has become sought-after due to more selenium and phosphorous than powdered milk. Maximum nutrients are the biggest benefits for end-users to shift to the liquid form of the milk.

Supermarkets and Hypermarkets Segment to Remain Dominant with Easy Availability

In terms of distribution channel, the market is classified into supermarkets and hypermarkets, online retail, convenience stores, and others. The supermarkets and hypermarkets segment could account for a significant share of the global market on the heels of easy availability in stores. Besides, the post COVID 19 outlook suggests robust growth in the distribution channel due to ease of lockdown and resumption of trade.

With respect to geography, the market covers Asia Pacific, North America, Europe, the Middle East & Africa, and South America.

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Drivers and Restraints

Expanding Product Uses in Infant Formula to Underpin Industry Growth

The A2 milk market share will witness an upward trajectory owing to its popularity as substitute milk for infants. Leading manufacturers have infused funds into milk products for easy digestibility and similarity with breast milk. Furthermore, the prevalence of disease symptoms associated with the consumption of regular milk will prompt consumers to seek the milk product. Prominently, the soaring number of the lactose intolerant population could encourage manufacturers to boost their portfolios. However, high costs with regards to the maintenance of cows could impede the growth prospect.

Regional Insights

Asia Pacific to Witness Investments Galore with Bullish Presence of Breed Cows

The Asia Pacific market size was valued at USD 709.12 million in 2021 and will witness a similar trend owing to the rising prevalence of A2 breed cows. Besides, strong demand for dairy products in supermarkets, hypermarkets, and online stores will augur well for the regional growth. Moreover, the emergence of startups and the expanding footprint of well-established players will solidify the position of Asia Pacific in the global landscape.

The Europe A2 milk market growth will be pronounced owing to the presence of major companies across the U.K., Germany, and France. Furthermore, milk has become trendier in confectionery and bakery products. Stakeholders are likely to augment their research and development activities to tap into the regional market.

An increased emphasis on R&D activities and innovations has made North America a favorable investment hub. Bullish distribution channels across the U.S., Canada, and Mexico and the easy availability of A2 beta-casein milk products encourage major companies to expand their geographical presence.

Competitive Landscape

Stakeholders Prioritize Product Launches to Foster Portfolios

Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements, and R&D activities. Besides, major companies could invest in innovations and product offerings in the ensuing period.

Key Industry Development

• August 2018 - Fonterra Cooperative Brand Anchor announced a strategic partnership with the A2 Milk Company Ltd. The aim of the partnership was to augment its milk portfolio and give more choices regarding milk to consumers.

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Cod Liver Oil Market to Hit USD 162.86 million by 2029 at a CAGR of 9.06% by 2022-2029

The global cod liver oil market size was USD 82.29 million in 2021. The market is projected to grow from USD 88.75 million in 2022 to USD 162.86 million by 2029 at a CAGR of 9.06% during the 2022-2029 period. Fortune Business Insights™ publishes this information in a report titled, "Cod Liver Oil Market, 2022-2029". As per the report, the market is likely to grow during the projected period due to increasing popularity of omega-3 dietary supplements.

List of Key Players Profiled in the Report:

• LYSI Iceland (Iceland)
• Nestle Health Science (Switzerland)
• Olvea Fish Oils (France)
• Vital Nutrients (U.S.)
• Power Health Products Ltd (U.K.)
• Mason Naturals (U.S.)
• Carlson Laboratories Inc. (U.S.)
• WN Pharmaceuticals Ltd. (Canada)
• NOW Health Group, Inc., (U.S.)
• Nordic Naturals Inc. (U.S.)

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COVID-19 Impact:

Rising Health Concerns Amid Pandemic to Bolster Market Growth

The demand for cod liver oil was growing during the pandemic due to increasing demand for food supplements and nutraceuticals among the population. Also, companies witnessed high sales of these oils to improve the immune system and reduce health issues. The rising health concerns bolstered the market growth during the pandemic period. Also, these oils are efficient and effective for the population from different age groups.

Segments:

Atlantic Segment to Lead Market Due to High Availability

By source, the market is trifurcated into Atlantic, Arctic, and others (Pacific, Greenland, and others). The Atlantic segment is expected to lead the global market due to increasing supplies and efficient manufacturing of fish liver oils.

Dietary Supplements Segment to Dominate Global Market During the Forecast Period

Based on application, the market is categorized into dietary supplements, pharmaceuticals, nutraceuticals, and personal care & cosmetics. The dietary supplements segment is projected to dominate the global market due to rising demand for omega-3 supplements.

Soft Gel Segment to Grow Due to Longer Shelf Life & Affordability

On the basis of form, the market is classified into liquid, soft gels, and capsules & tablets. The soft gels segment is projected to hold a dominant market share during the forecast period due to its efficiency, affordability, and higher shelf-life.

Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report provides complete information and insights on recent developments and trends in the market. Furthermore, the drivers and restraints affecting the market growth during the projected period are mentioned further in the report. Also, the impact of COVID-19 pandemic on global market development is highlighted further in this report. Regional market insights on segmented market areas are provided further along with a list of key market players in the industry.

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Drivers & Restraints:

High Demand for Omega-3 Dietary Supplements to Propel Growth

The rising consumption of fish oils is expected to bolster the cod liver oil market growth during the forecast period. Also, the rising inclusion of these oils in sports nutrition products is anticipated to drive the market. Furthermore, increasing popularity of omega-3 dietary supplements and increasing frequency of product launches by leading companies are anticipated to fuel the market growth.

However, high product prices may hinder market growth.

Regional Insights:

Europe Holds Largest Market Share Due to Rising Product Demand

Europe held the largest cod liver oil market share and stood at USD 37.57 million in 2021. The regional market growth is attributed to the increasing demand for nutraceuticals and high consumption of omega-3 supplements.

Competitive Landscape:

Rising Developments by Leading Companies to Maintain Their Market Position

The leading market players focus on increasing their production capacities to ensure high profitability in the emerging market. Also, the key players consider forming strategic alliances, mergers, and partnerships to propel growth and maintain their market position.

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Key Industry Development:

• February 2022: Carlson Laboratory Inc., a leading nutritional supplements manufacturing company, launched a new cod liver oil in green apple flavor. This new product developed for kids and adults provides 1,100 mg of omega-3s, with vitamins A and D3 per serving for adults, and 550 mg of omega-3s, with vitamins A and D3 for kids.

Vanilla Extract Market to Hit USD 6.29 billion by 2029, Exhibiting a CAGR of 3.52% by 2022-2029

The global vanilla extract market size was valued at USD 5.26 billion in 2021. The market is projected to grow from USD 4.94 billion in 2022 to USD 6.29 billion by 2029, exhibiting a CAGR of 3.52% during the forecast period.

This information is provided by Fortune Business Insights, in its report, titled “Vanilla Extract Market, 2022-2029.”

COVID-19 Impacts:

Spread of COVID-19 Across Globe Restrained Market Growth

The COVID-19 pandemic limited the supply of all commodities globally majorly in Q2 2020, which triggered interruptions in the supply chain and led to several products incapable to reach end-users. This further had consequences, such as less supply of ingredients and finished product, influencing the overall ingredients market including vanilla extracts, which registered disappointing growth in 2020.

Since the COVID-19 pandemic, the number of people cooking at home augmented, which resulted in an elevation of food & beverages sales.

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Segments:

Madagascar Vanilla Segment Holds Prime Market Share Accredited to Huge Yield and High Demand

Madagascar vanilla beans are produced in Madagascar and are measured to be the best of its kind for superior quality vanilla beans in the spice industry. Abundant rainfall and fertile soil make the prime circumstances for cultivation of vanilla plants.

Food & Beverages Segment Holds Key Share Owing to Expanded Applications of Product in Numerous Food Products

Vanilla extracts are utilized predominantly in the food & beverages industry in multiple forms. Its usage can be witnessed as flavoring and taste enhancers in candy, chocolate, pastry, ice-cream, dairy products, bakery items such as biscuits, cookies, waffles, baking mixes, muffins, cakes, and beverages such as soft drinks, confectionery, coffee drinks, sauces, as well as baby formulas.

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

Report Coverage:

The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide an estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.

Drivers and Restraints:

Flourishing Food & Beverage Industry to Assist Vanilla Extract Market Growth

In the food industry, vanilla is chiefly utilized in ice cream preparation. The amplification of fast food chains globally is thriving ice cream ingestion as the fast food industry is among the pivotal consumers of ice cream. Surging consumer disposable income, increasing living standards, and refining consumer purchasing power are resulting in an upsurge in per capita consumption in developing countries such as India and China.

Furthermore, the requirement for gourmet and premium ice creams has elevated considerably owing to rising health consciousness among consumers due to its superior quality, delicate taste, provenance, exotic ingredients, and moral foundation.

Regional Insights:

Asia Pacific to Lead Backed by Presence of Major Players

Asia Pacific holds the prime vanilla extract market share owing to the existence of major food & beverages players in China and India as well as the incidence of huge number of pharmaceutical producing companies in Asia Pacific.

Europe is the second largest market for the product. This is primarily owing to the existence of some of the world’s biggest food companies as well as cosmetic product manufacturing companies. Europe is well-renowned as the cosmetic hub with numerous pioneering cosmetic companies having their headquarters situated in the EU region.

In North America, the U.S. and Canada are the prime and largest markets. Elevated demand for this product is chiefly observed from industries such a food & beverages as well as pharmaceutics.

Competitive Landscape:

Acquisitions Initiated by Key Companies to Promote Market Growth

The leading players in the market constantly opt for efficient strategies to bolster their brand value as well as promote the global market growth. One such efficient strategy is acquiring competitive companies and further securing a profit for both the companies.

List of Key Players Mentioned in the Report:

• Adams Extract (U.S.)
• F. Sauer Company (U.S.)
• McCormick & Company (U.S.)
• Frontier Natural Products (U.S.)
• Madécasse (U.S.)
• Nielsen-Massey Vanillas (U.S.)
• Watkins Incorporated (U.S.)
• Eurovanille (France)
• Firmenich (Switzerland)
• Symrise (Germany)
• Lochhead Manufacturing Company (U.S.)

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Key Industry Development:

July 2021: Archer Daniels Midland Company procured Rodelle Inc., which is the finest creator, processor, and dealer of vanilla products throughout the world. Rodelle offers solutions to dominating food and beverage players in the world, as well as directly to customers.

Bovine Gelatin Market Size to Hit SD 1.88 billion by 2029, exhibiting a CAGR of 6.46% by 2022-2029

The global bovine gelatin market size was USD 1.13 billion in 2021. The market is projected to grow from USD 1.21 billion in 2022 to USD 1.88 billion by 2029, exhibiting a CAGR of 6.46% during the 2022-2029 period.

This information is provided by Fortune Business Insights, in its report titled, “Bovine Gelatin Market, 2022-2029.”

COVID-19 Impacts:

Disruption in Raw Material Supply Leads to Negative Growth Amidst Pandemic

The unexpected COVID-19 pandemic has had an impact on many aspects of the economy, including manufacturing, financial growth, and consumer behavior. The global food industry's overall business was hindered by the widespread lockdown, the shutdown of production facilities, and logistical challenges. Due to the demand-supply imbalance, price increase, and poor logistics, these disruptions made it difficult to import and export raw materials.

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Segments:

Food & Beverages Segment to Account for the Major Market Share in the Industry

Based on application, the market is divided into food & beverages, healthcare & pharmaceuticals, cosmetics, and others. Out of all, the food & beverages segment, hold the largest market share due to rising consumer preferences for natural ingredients, which can be consumed on a daily basis.

Capsule & Tablets to Exhibit Solid Growth Owing to Rising Demand for Convenience

On the basis of form, the market is segmented into powder, capsule & tablets, and others. The capsule & tablets segment held the maximum revenue share in the year 2020 and is expected to remain dominant in the coming years.

Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Drivers and Restraints:

Consistent Focus on Research & Development Contributes to Market Growth

Due to growing consumer demand for numerous beneficial foods and beverages, the market is expanding. In recent years, customers have found gelatin-based items increasingly alluring for satisfying their unique whims and cravings. People are choosing gelatin-fortified goods to develop and sustain a healthy lifestyle, and they are looking for products and brands that can meet their daily needs.

Regional Insights:

Europe to Dominate Stoked by Growing Demand for Packaged Products

With a market value of USD 437.08 million in 2021, Europe dominated the global market. This is mainly attributed to the fact that end-use sectors, including cosmetics, pharmaceuticals, food & beverage, and others are seeing increased demand. Additionally, as gelatin is primarily used as a stabilizer in packaged meals as well as utilized to improve the shelf life, the growing demand for packaged goods in nations such as Germany and the U.K. also drives the need for bovine gelatin.

Asia Pacific is anticipated to have the second-largest bovine gelatin market share and is anticipated to continue to expand in the future.

Due to the growing use of gelatin in 3D photography and the treatment of arthritis, particularly in countries such as Brazil and Argentina, the use of products containing bovine gelatin is also increasing in South America.

Competitive Landscape:

Key Players Invest Heftily in Numerous Companies to Gain Impetus

The market observes trends such as investments by crucial players. Heavy investments assist companies to gain lucrative prospects and elevated revenue. Other tactical strategies involve collaborations, mergers, product launches, and so on.

List of Key Players Mentioned in the Report:

• NITTA GELATIN, INC. (Japan)
• Lapi Gelatin S.p.A. (Italy)
• Jellice Pioneer Europe B.V. (Netherlands)
• Darling Ingredients Inc. (U.S.)
• Gelita AG (Germany)
• Merck KGaA (Germany)
• Lonza Group (Switzerland)
• Bernard Jansen Products Inc. (U.S.)
• Luoyang Leston Import and Export Trade Co., Ltd. (China)
• Nutra Food Ingredients, LLC (U.S.)

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Key Industry Development:

December 2021: A Turkish company called Halavet Foods invested about USD 25 million in the introduction of a new halal gelatin plant throughout Turkey. The company wants to double the amount of gelatin it exports to the North American market in order to increase production capacity.

Corn Oil Market to Hit USD 9.37 billion by 2029 with a CAGR of 6.95% during 2022-2029

The global corn oil market size was valued at USD 5.34 billion in 2021 and USD 5.86 billion in 2022. The market is expected to reach USD 9.37 billion by 2029 with a CAGR of 6.95% during the forecast period. Diverse applications of corn oil in numerous industries such as pharmaceuticals, cosmetics, and animal feeds are predicted to drive market evolution. New advancement in the extraction of the oil is expected to propel the market course in a growing direction. Rise in the awareness regarding the importance of leading a healthy lifestyle is expected to facilitate market development. Fortune Business Insights™ shares this information in its report titled “Corn Oil Market, 2022-2029.”

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Segments

Edible Segment to Lead as it is One of the Preferred Oils for Cooking

Based on type, the market is bifurcated into edible and non-edible. The edible segment is anticipated to dominate as it is one of the preferred oils for cooking. According to the National Library of Medicine, the oil has high alpha and gamma tocopherols (vitamin E), which prevents the oil from rancidity. This property of the product makes it effective to use in salads and cooking oils.

Food and Beverage to Govern the Segment as it is Used in Commercial Kitchens

Based on application, the market is segmented into food & beverage, pharmaceuticals, cosmetics & personal care, animal feed, industrial, and biodiesel. The food & beverage segment is expected to have a major part as the product as it is increasingly used in commercial kitchens, owing to its higher smoke point than its substitutes such as canola oil and soybean oil. Thus, it is considered one of the ideal oils for deep-frying or shallow-frying in a skillet and has more flavor than other vegetable oils.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Diversifying Usage of the Product to Propel Market Development

Diversifying usage of the product is anticipated to drive the corn oil market growth. There has been an increased usage of the product in various end-user industries such as pharmaceutical, cosmetics, industrial, and food & beverages. It helps in the production of soaps, hair care preparations, and powder for the face and body. It is also used in the skincare of pet animals as a massaging oil for dog hair, which makes the coat look healthier and also used to fed to horses to treat dull coat conditions. New innovation in the optimum extraction of the oil is set to positively impact the market growth.

However, the presence of various substitute oils is projected to hinder market growth.

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Regional Insights

North America to Lead Market Share Due to Increasing Consumption of Biodiesel

North America is expected to lead the corn oil market share due to increasing consumption of biodiesel. The growth for biodiesel is growing due to the growing demand for green fuels across the aviation industry. The region reached a valuation of USD 2.90 billion in 2021 due to increasing prevalence of obesity among the population of the U.S. Food manufacturers have launched initiatives to support the consumption of low-calorie and cholesterol-free oils so as to reduce cardiovascular diseases and blood-cholesterol levels and improve digestion and metabolism.

Europe is also set to hold an important position in the market due to growing demand from countries such as Germany and Italy. The demand in the region is high for feedstock production in European countries.

Competitive Landscape

Acquisition Strategies by Key Players to Advance Market Course

Various market players of the market have been focusing on acquisition strategies. In September 2021, Nestle agreed to acquire 100% of Agri Trading. The agreement is set to support renewable growth and enhanced the global renewable raw material sourcing and footprint in the U.S. Such goals related to renewable energy is set to facilitate the demand for products that are green in nature. The industry is experiencing an increase in the new entry of players with a range of innovative products, especially in developing nations.

List of Key Players Profiled in the Report

• Abu Dhabi Vegetable Oil Company LLC. (U.A.E)
• Archer-Daniels-Midland Company (U.S.)
• Associated British Foods (U.K.)
• Bluecraft Agro (India)
• Cargill Inc (U.S.)
• Grain Processing Corporation (U.S.)
• Greenfield Specialty Alcohols (Canada)
• Ingredion Incorporated (U.S.)
• Richardson International (Canada)
• Roquette Frères. (France)

Key Industry Development

• March 2022: Minnedosa Ethanol Plant (M.E.P.), an ethanol plant located in Minnedosa, Canada, started producing corn oil used to make renewable diesel. The new product has highlighted the company’s pledge of ingenuity, teamwork, and innovation in meeting the world’s ever-changing energy demands.

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COVID-19 Impact:

Increase in the Prices of the Oil During Pandemic Led to Positive Market Value

The COVID-19 pandemic significantly affected the food & beverage industry. The supply chains were majorly hampered due to the lockdown, production halt, and prolonged quarantine conditions. Factories had reduced a number of employees, which impacted the production of the oil. Lack of availability of corn oil in the market led to high prices and increase in the value of the market. According to the global analysis article by the Foreign Agricultural Service, in the U.S., the price of corn oil in the year 2019-20 was USD 870 per metric ton and increased to USD 1,193 per ton in 2020-21.