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.

Rendered Poultry Products Market to Hit USD 8.65 billion by 2030 with a CAGR of 3.24% by 2023-2030

The global rendered poultry products market size was valued at USD 6.74 billion in 2022 and USD 6.92 billion in 2023. The market is expected to reach USD 8.65 billion by 2030 with a CAGR of 3.24% during the forecast period. The growing utilization of animal byproducts in various applications such as food and feedstock and rising concerns over environmental sustainability further boost the global market size. The emerging use of rendered poultry in the food and feed industry is set to propel market growth. Fortune Business Insights™ shares this information in its report titled “Rendered Poultry Products Market, 2023-2030.”

COVID-19 Impact:

Scarcity in Raw Materials During Pandemic Affected Market Growth Negatively

The COVID-19 pandemic led to disruptions severely affecting the food and feed processing industries in terms of ongoing production, raw material procurement, and new product approvals. The scarcity of raw materials and shortage of labor led to a number of interruptions and production decline. Thus, the key players in the market are trying to recover their losses by working on the appropriate measures to minimize or eliminate the hindrances in production and supply chains.

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Segments

Poultry Fat to Dictate as it has Many Nutrients

On the basis of type, the market is divided into poultry fat, grease, protein meal, and others. The poultry fat segment is anticipated to dominate as it is the richest source of linoleic acid and other nutrients such as vitamin E and choline. It is largely used as a flavoring agent in chicken broth, spreads, and dressings for salads and others.

Feed Grade to Lead the Segment as it is an Essential Ingredient in Pet and Aqua Food

Based on grade, the market is divided into food grade, feed grade, and industrial grade. The feed grade segment is expected to have a major part as it is one of the essential ingredients in pet food and aqua feed.

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

Increasing Uses of Rendered Poultry in Food and Feed Industries to Drive Market Expansion

Increasing use of rendered poultry in the food and feed industries is anticipated to drive the rendered poultry products market growth. For many years, the process of rendering has been used for recycling unwanted animal tissues into feed and fertilizers. Rendered products play a vital role in several applications such as in the production of pet food, jellies, jams, fertilizers, and pharmaceuticals. Rendering has been a classic and eco-friendly way to produce valuable protein and fats, which improves the nutritional status of the animal food used by farmers to feed their poultry, fish, and other ruminants.

However, strict rules and regulations for rendering are projected to obstruct market growth.

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Regional Insights

North America to Lead Market Share Due to Increasing Demand for Superior Quality Animal Feed

North America is expected to head the rendered poultry products market share due to increasing demand for superior-quality animal feed for improving the potential of ranch animals. The region reached the valuation of USD 3.80 in 2022 due to escalating sales of rendered poultry products. In 2020, as per Phase One Economic and Trade Agreement, the U.S. and the Republic of China gave an approval for additional 24 U.S. rendering plants, which is set to enhance the production capacity of protein meals and other poultry fats.

Asia Pacific is one of the growing regions of the market due to substantial demand for poultry-meat products owing to easy availability and affordability. According to the National Poultry Newspaper, 2021, meat production globally is rising, with two-thirds originating from the Asia Pacific region.

Europe is set to have a noticeable growth due to increase in awareness about rendered animal fats and rising innovations in the development of value-added byproducts.

Competitive Landscape

Strategies to Expand the Production Capacity to Advance Market Course

The major rendered poultry products players such as Tyson Foods Inc., Darling Ingredients Inc., JG Pears, and others, owing to rising utilization of such poultry byproducts in animal feed or biodiesel and growing concerns for environmental sustainability. In March 2021, Fuchs Petrolab SE unveiled a new polyurea lubricating grease factory at Kaiserslautern. The multi-year project can further help in expanding the production capacity of the company. Such new projects to increase the production capacity is projected to increase the production and surge the demand for the product amongst end-users.

List of Key Players Profiled in the Report

• Tyson Foods Inc. (U.S.)
• JG Pears (U.K.)
• Brazilian Renderers (Brazil)
• West Coast Reduction Ltd. (U.S.)
• The Leo Group (U.K.)
• The Tonnies Group (Germany)
• Allanasons Pvt. Ltd. (India)
• Akiolis Group (France)
• Darling Ingredients Inc. (U.S.)
• Nordfeed (Turkey)

Key Industry Development

• May 2022: Darling Ingredients Inc. completed its acquisition of 18 rendering plants of Valley Proteins Inc. as it has a successful rendering business, which will help in strengthening the business expansion and expanding its ability to provide additional low carbon intensity feedstock across the global market.

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Craft Beer Market to Hit USD 210.78 billion by 2028, exhibiting a CAGR of 10.83% by 2021-2028

The global craft beer market size is projected to reach USD 210.78 billion by 2028, exhibiting a CAGR of 10.83% during the forecast period. The evolving consumer lifestyle and growing consumer preferences towards CBD are likely to fuel market progress. Fortune Business Insights™ mentions this information in its report titled "Craft Beer Market, 2021-2028." The market size stood at USD 95.23 billion in 2020 and is expected to reach USD 102.59 billion in 2021.

Craft beer's demand is expected to rise rapidly because of the rising demand for the product from several consumers. The rising popularity of the product is expected to bolster market progress. Evolving lifestyles and rising socializing trends have led to the adoption of craft beer. It is a pleasing and relaxing drink that is consumed in pubs and houses. The incorporation of several flavors and improvement in taste is expected to lead the market progress during the upcoming years. Further, the incorporation of a cannabis plant variant named CBD is expected to boost industry progress. The incorporation of CBD reduces the bitter taste and attracts consumers. These factors are likely to fuel industry progress. 

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COVID-19 Impact

Sudden Decline in Sales to Negatively Affect Market Growth

This market is expected to be negatively affected by the market growth because of the halt on production activities and lack of resources required for the production of craft beer. The rising COVID-19 patients have led to the imposition of stringent lockdown regulations, which, in turn, may negatively affect the product's sales. As per the study published by the Brewers Association, U.S. brewery sales slumped to 30.5% in May in comparison with the previous year. However, post lockdown relaxations lead to the adoption of reduced capacities and technologically advanced production techniques. This factor is likely to fuel market growth. 

Segments

By type, the market is segmented into pilsner, lager, ale, and others. By distributional channel, it is classified into off-trade and on-trade. Geographically, it is clubbed into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. 

Highlights of the Report

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

Emergence of Strong Beers and Incorporation of Flavors to Facilitate Market Progress

Rising popularity regarding strong beers and the adoption of flavors is expected to boost the drink's adoption. Manufacturers focus on incorporating several flavors such as malty & sweet, tart & funky, sour, fruit & spice, and others are expected to attract consumer demand. The rising socialization among the population is expected to boost the product's demand. Further, the emergence of several breweries is expected to boost the production of beers and enhance sales. Breweries focus on boosting their production to solve supply chain problems and cater to consumer's needs. As per the Brewers Association, independent and small brewers in the U.S. produced approximately 26.3 million barrels of beer in 2019. These factors are likely to drive the craft beer market growth. 

However, the availability of alternative drinks such as whiskey, rum, wine, and gin is expected to hinder market progress. 

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Regional Insights

Rapid Urbanization and Increasing Disposable Incomes to Boost Market Growth in Asia Pacific

Asia Pacific is projected to dominate the craft beer market share because of rapid urbanization and rising disposable income among the population. The Asia Pacific market stood at USD 39.78 Billion in 2020 and is expected to grow positively during the upcoming years. Evolving consumer lifestyles and rising per-capita income may propel market progress. These factors are likely to propel market progress. 

In North America, the expansion of several breweries in the U.S. is expected to boost craft beer's adoption. Further, increasing socialization trends and the rising popularity of beers are expected to boost industry progress. 

In Europe, a sudden spike in craft ale's consumption and strong demand for premium beers are likely to boost craft ale's demand. These factors are likely to fuel industry progress. 

Competitive Landscape

Prominent Companies operating in the Market Announce Novel Products to Boost Brand Image

The prominent companies operating in the market launch novel products to satisfy consumer demand and boost their brand image. For example, B9 Beverages Pvt. Ltd. launched their limited edition craft beers under their Bira91 brand in April 2021 to satisfy consumer's demand for exquisite and bold flavors. This strategy may enable companies to boost their brand image. Further, the adoption of technologically advanced production technologies may enable companies to reduce labor costs, boost productivity, enhance operational efficiency and satisfy organizational goals. 

Industry Development

• February 2020: B9 Beverages Pvt. Ltd. launched 3 beers under its brand Bira91 in the U.K. The company aims to augment its market reach with this launch.

Key Players Profiled in the Craft Beer Market Report:

• G. Yuengling& Son, Inc. (Pennsylvania, U.S.)

• Heineken N.V.(Amsterdam, Netherlands)

• The Boston Beer Company, Inc. (Massachusetts, U.S.)

• Constellation Brands, Inc. (New York, U.S.)

• Anheuser-Busch InBev (Leuven, Belgium)

• New Belgium Brewing Co. (Colorado, U.S.)

• Sierra Nevada Brewing Co. (California, U.S.)

• DuvelMoortgat NV (Puurs, Belgium)

• Bell's Brewery, Inc. (Michigan, U.S.)

• Dogfish Head Craft Brewery Inc. (Delaware, U.S.)

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Rendered Products Market to Hit USD 26.09 billion by 2029 at a CAGR of 2.55% by 2022-2029

The global rendered products market size was USD 21.45 billion in 2021. The market is projected to grow from USD 21.87 billion in 2022 to USD 26.09 billion by 2029 at a CAGR of 2.55% during the 2022-2029 period. Fortune Business Insights™ publishes this information in a report titled, "Rendered Products Market, 2022-2029". As per the report, the market is anticipated to grow during the projected period due to increasing product utilization in the feed industry.

COVID-19 Impact:

Disrupted Supply Chain Amid Pandemic Hampered the Global Market Growth

The outbreak of COVID-19 pandemic has harshly affected the food and beverage sector due to lack of supplies and disrupted supply chains. Also, governments imposed stringent restrictions on travel, which hampered the import/export activities among several countries. The market witnessed declined demand for products from various industries due to the closure of national borders. Furthermore, halted manufacturing operations affected the productivity and profitability of the companies.

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Segments:

Rising Chicken Consumption to Bolster Poultry Segment Growth

By source, the market is divided into sheep, poultry, cattle, hogs, and others. The poultry segment is expected to lead the global market due to increasing chicken consumption. Also, the rising availability of poultry byproducts is anticipated to fuel the segment growth.

Increasing Demand for Tallow from Several Industries to Drive Segmental Growth

Based on type, the market is categorized into tallow, poultry fat, grease, protein meal, and others. The tallow segment is anticipated to dominate the global market during the forecast period due to its increasing demand from several industries.

Rising Utilization of Rendered Products in Animal Feed Sector to Support Market Growth

On the basis of grade, the market is trifurcated into food grade, feed grade, and industrial grade. The feed grade segment is leading due to the increasing popularity of the products in animal feed applications.

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

Report Coverage:

The report sheds light on key market developments and recent industry trends. The drivers and restraints affecting the global market during the forecast period are highlighted further in this report along with key business development strategies adopted by the leading market players. Furthermore, regional insights on segmented market areas and a list of key market players are mentioned further in this report.

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Drivers & Restraints:

Rising Utilization of Rendered Products in Feed Industry to Propel Growth

The market is expected to witness significant growth during the forecast period due to increasing demand for the product in the feed industry. Also, rising concerns over environmental sustainability are expected to bolster the rendered products market growth in the coming years. The increasing manufacturing of novel products is expected to fuel the market growth due to the rising utilization of animal byproducts.

However, stringent regulations on rendering animals may hamper market growth. 

Regional Insights:

North America Dominates Global Market Due to Rising Demand for Animal Feed

North America holds the highest global rendered products market share due to increasing demand for high-quality animal feed. Also, the rising popularity of specialty pet food is anticipated to drive the regional market.

Asia Pacific stands at the second-highest position globally due to rising population and evolving economies in developed and developing countries. Furthermore, the increasing demand for high-value aquaculture feed is anticipated to fuel the market growth.

Competitive Landscape:

New Product Launch Allows Key Market Players to Enhance their Product Portfolio

The key market players focus on introducing new products to the global market to improve their business performance by enhancing their product portfolio. Also, the leading companies in the market focus on forming strategic alliances, partnerships, mergers, collaborations, and brand acquisitions to strengthen their market positions.

Key Industry Development:

• July 2020: Darling Ingredients Inc. started the production of collagen peptides at its facility in Ghent, Belgium. The company’s Ghent facility will entirely produce collagen peptide products obtained from bovine and porcine.

List of Key Players Profiled in the Report:

• Darling Ingredients Inc. (U.S.)
• West Coast Reduction Inc. (Canada)
• Nordfeed (Turkey)
• JBS S.A. (Brazil)
• Tyson Foods Inc. (U.S.)
• Valley Proteins Inc. (U.S.)
• Sanimax (Canada)
• Allanasons Pvt. Ltd. (India)
• Leo Group Ltd. (U.K.)
• SRC Companies Inc. (U.S.)

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Herbal Medicine Market To Hit USD 347.50 billion by 2029, exhibiting a CAGR of 11.16% by 2022-2029

The global herbal medicine market size was USD 151.91 billion in 2021. The market is projected to grow from USD 165.66 billion in 2022 to USD 347.50 billion by 2029, exhibiting a CAGR of 11.16% during the forecast period 2022-2029.

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

COVID-19 Impacts:

Risen Health Problems amid COVID-19 Pandemic Assisted Market Growth

The COVID-19 virus was declared as a global pandemic by the WHO in March 2020. The pandemic had prime influences on the health and pharmaceutical industries, which is likely to succeed in the short and long-term period. There also prevail short and long-term adverse effects on R&D and production activities as well as postponement in projects/programs not associated to the core supply chain/data management functioning.

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Segments:

Pharmaceutical & Nutraceutical Segment Holds Prime Market Share Owing to Surging Demand for Herbal Products

By application, the pharmaceutical & nutraceutical segment holds the largest herbal medicine market share. This is attributed to the high demand for herbal raw materials from dietary supplement manufacturers and the alternative medicines industry.

Tablets & Capsules Segment to Hold Significant Share Owing to its Extensive Obtainability in Pharmaceutical Industry

The tablets & capsules segment holds a significant market share based on form. Various such medicines are accessible in the form of capsules and tablets in the market.

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

Report Coverage:

The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the herbal medicine market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective. The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is expected to affect the demand for herbal medicines in the near future.

Drivers and Restraints:

Rising Demand for Herbal Ingredients in Cosmetic Industry to Fuel Market Growth

The cosmetics industry offers impressive prospects for exporters of organic ingredients from emerging nations to extend their businesses in established regions. The demand is surging for natural ingredients from the cosmetic industry. The prime aspects that are fueling this demand are surging consumer consciousness about organic cosmetics and the increasing emphasis among cosmetics companies to offer natural herbal substitutes to synthetic constituents. As the demand for natural ingredients utilized in cosmetics and toiletries products is rising, this trend is anticipated to endure during the forecast period.

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Regional Insights:

Europe to Dominate Backed by Demand for Organic Products from Population

Europe holds the largest market share as it has the largest cosmetic industry in the world and is predicted to offer worthy prospects for fresh applicants in the market from emerging economies. Demand for natural ingredients utilized in the personal care and beauty products segment is surging instantaneously and this trend is predicted to endure.

In North America, there is an increasing consciousness among consumers predominantly in the U.S. regarding health and there is a fluctuation in perception of people toward organic care products owing to an influential green wave.

The cosmetics markets in Asia and Latin America are also displaying substantial growth. With surging internet penetration, consumers are attaining cognizance regarding the extended profits associated with herbal products and are keen on utilizing natural & herbal medicine.

Competitive Landscape:

Chief Companies Launch Trend-oriented Products to Gain Maximum Market Capital

The indispensable players implement numerous tactics to bolster their position in the market as dominating companies. A chief strategy is procuring companies to bolster the brand value among users. Another effective strategy is launching popular products after certain intervals along with a methodical review of the market and its target users.

Key Industry Development:

March 2021: Lotus, India's popular beauty company, unveiled the Lotus Botanicals brand. Through this e-commerce brand, users will be enabled to purchase Lotus Botanicals' series of skin and hair care products only via Lotus Botanicals as well as other third-party ecommerce platforms.

List of Key Players Mentioned in the Report:

• Cultivator Natural Products Pvt. Ltd. (India)
• 21ST Century HealthCare, Inc. (U.S.)
• Herbalife Nutrition (U.S.)
• ZeinPharma Germany GmbH (Germany)
• Blackmores Limited (Australia)
• Himalaya Global Holdings Ltd. (India)
• Nutraceutical Corporation (U.S.)
• Emami Limited (India)
• Nature's Answer, LLC. (U.S.)
• Patanjali Ayurved Limited (India)

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Dairy Alternatives Market to Hit USD 61.43 Billion by 2029 at a CAGR of 13.58% by 2022-2029

The global the dairy alternatives market size was USD 22.25 Billion in 2021. The market is projected to grow from USD 25.19 Billion in 2022 to USD 61.43 Billion by 2029 at a CAGR of 13.58% during the 2022-2029 period. Fortune Business Insights™ publishes this information in a report titled, "Dairy Alternatives Market, 2022-2029". As per the report, the market is projected to grow during the projected period due to increasing veganism and rising inclination of consumers toward plant-based foods.

COVID-19 Impact:

Lack of Manufacturing Activities Amid Pandemic Hampered Market Growth

During the COVID-19 pandemic, people were inclined toward plant-based and healthy food products to improve their immune systems. The dairy alternatives market growth was hampered during the initial lockdown phase due to lack of supplies and halted production activities. Also, the low availability of labor and disrupted manufacturing processes created a huge impact on the demand and sales of these products. Furthermore, supply chains were disrupted due to stringent restrictions on import/export policies imposed by governments. However, the leading market players plan to expand their production post-pandemic. 

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List of Key Players Profiled in the Market of Dairy Alternatives:

• Danone S.A. (France)
• Archer-Daniels-Midland Company (U.S.)
• Blue Diamond Growers (U.S.)
• SunOpta, Inc. (Canada)
• Vitasoy International Holdings Ltd (Hong Kong)
• Daiya Food, Inc. (Canada)
• Goya Foods, Inc. (U.S.)
• Living Harvest Foods, Inc. (India)
• Organic Valley (U.S.)
• Eden Foods, Inc. (U.S.)

Segments:

By Source

• Soy
• Almond
• Coconut
• Rice
• Oats
• Others

By Product Type

• Non-Dairy Milk
• Butter
• Cheeses
• Yogurts
• Ice Cream
• Others

By Distribution Channel

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

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa.

Report Coverage:

The report sheds light on qualitative and quantitative analysis of recent trends and current market conditions. Also, the developments and advancements in the industry are highlighted further in this report along with the drivers and restraints affecting the market growth during the forecast period. The impact of COVID-19 pandemic on market growth and expansion is given further in the report. Regional insights on segmented market areas are given with a list of leading market players in the industry.

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Drivers & Restraints:

Increasing Veganism to Bolster Market Growth

The market is anticipated to grow significantly over the forecast period due to rising concerns for processed dairy products and increasing lactose intolerant population. Furthermore, product innovation strategies implemented by the leading market players are expected to fuel the market growth. Also, the rising consumption of vegan food and increasing veganism are expected to bolster the market during the forecast period.

However, low consumer awareness and sub-optimal market penetration may hamper market growth.

Regional Insights:

Asia Pacific Dominates Global Market Share Due to Rising Cases of Lactose Intolerance

Asia Pacific held a dominating global dairy alternatives market share in 2021 owing to rising cases of cow milk allergy and lactose intolerance among the population. Calorie concerns and higher prevalence of hypercholesterolemia and obesity are the major reasons for regional market growth.

North America is anticipated to hold the second-leading position due to the increasing demand for plant-based food products and surging veganism. Also, consumers intend to adopt a highly nutritional diet and develop their immunity. 

Competitive Landscape:

New Product Launch Allow Companies to Improve their Business Performance

The leading companies focus on introducing products to attract customers and enhance their product portfolio. Rising adoption of the latest technologies and integration of emerging consumer demand allow companies to build their business performance.

Key Industry Development:

• January 2021: Nestle S.A. launched vegan, coconut milk-based, flat white coffee pods in the U.K. to offer consumer’s superior coffee made using lactose-free milk, a form of dairy alternatives.

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