Hummus Market To Reach USD 6.60 Billion by 2021-2028 | Rising Usage of Functional Ingredients to Improve Immunity will Aid Growth

The global hummus market size is set to gain momentum from the increasing shift of people towards the vegan diet, especially in Europe and North America. The surging awareness of environmental sustainability and animal welfare is compelling people to opt for plant-based dips. As per Statista, in the U.S., sales of refrigerated plant-based dips went up to USD 11 million in April 2019. As per the report, the market size was USD 2.62 billion in 2020. It is predicted to grow from USD 2.95 billion in 2021 to USD 6.60 billion in 2028 at a CAGR of 12.17% in the forecast period.

Companies profiled in the hummus market report are:

• Nestlé S.A. (Vevey, Switzerland)
• Cedar’s Mediterranean Foods, Inc. (Massachusetts, U.S.)
• Haliburton International Foods, Inc. (California, U.S.)
• Strauss Group, Ltd. (Sabra Dipping Company, LLC) (Petah Tikva, Israel)
• Bakkavor Group Plc (London, United Kingdom)
• Tribe Hummus (Massachusetts, U.S.)
• Boar’s Head Brand (Florida, United States)
• Hummus Gourmet, LLC (Lantana Foods) (Texas, U.S.)
• The Kraft Heinz Company (Illinois, U.S.)
• Hope Foods, LLC. (Colorado, U.S.)

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Report Coverage:

We have conducted extensive primary and secondary research to gather information about various aspects of this report. Our special interviews with end-user respondents and supply side respondents helped in gaining insights into the average pricing, per capita consumption trend, and average spending on products, growth rate, market size, and dynamics. We have also taken information from reputed journals, articles, and press releases of companies operating in this industry.

Drivers & Restraints:

Rising Usage of Functional Ingredients to Improve Immunity will Aid Growth

Consumers across the globe are nowadays demanding for unique flavors in their dips. Hence, several manufacturers are striving constantly to come up with novel products to cater to the taste and preferences of consumers. O'Dang Foods, for instance, introduced two new flavors of balsamic feta and classic Mediterranean hummus in the U.S. in June 2020 to fulfill the high demand for Mediterranean cuisine. A few other companies are equipping their dips with various functional ingredients, such as lime, turmeric, blueberry, and lavender because of the ongoing COVID-19 pandemic for enhancing immunity. However, the increasing availability of substitutes, namely, salsa and tahini may hamper the hummus market growth.

Regional Insights:

North America to Dominate Fueled by Higher Consumption of Dips and Spreads in the U.S.

Geographically, North America held USD 1.33 billion in terms of revenue in 2020. It is anticipated to dominate the market in the upcoming years. The surging consumption and production of spreads and dips, especially in the U.S. would bolster growth. Also, companies are trying to produce attractive and new dips to generate more sales. Argania Foods, for instance, introduced vegan cauliflower keto hummus dip in the U.S. in December 2019. On the other hand, Europe is likely to remain in the second position backed by the high popularity of the product in the U.K. In Asia Pacific, the rising disposable income of people is expected to aid growth.

Segments:

Classic Segment Earned 41.40% Share in 2020: Fortune Business Insights™

Based on type, the market is divided into red pepper, classic, black olive, white bean, roasted garlic, and others. Out of these, the classic segment is set to remain at the forefront in the near future because of its versatility and easy availability. It can be consumed as a dip, spread, or appetizer. At the same time, it is highly nutritious and naturally gluten-free. The segment generated 41.40% in terms of the hummus market share in 2020.

Competitive Landscape:

Key Players Focus on New Product Development to Intensify Competition

The global market houses a large number of international and local companies that are constantly launching state-of-the-art products in various sizes to meet consumers’ needs. Most of them are conducting R&D activities to create unique dips.

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Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
  • Emerging Trends
• Key Insights
  • Overview on the Parent/Related Market
  • Supply Chain
  • Regulatory Analysis
  • Industry SWOT Analysis
  • Recent Industry Developments - Policies, Mergers & Acquisitions, and
  • New Product Launches
  • Market Analysis and Insights (in Relation with COVID-19)
    • Impact of COVID-19 on the Market
    • Supply Chain Challenges due to the Pandemic
    • Potential Opportunities to Support the Market during the Global Crisis
  • Global Hummus Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Size Estimates and Forecast
      • By Type (Value)
        • Classic Hummus
        • Roasted Garlic Hummus
        • White Bean Hummus
        • Black Olive hummus
        • Red Pepper Hummus
        • Others
      • By Distribution Channel (Value)
        • Supermarkets/Hypermarkets
        • Convenience Stores
        • Grocery Stores
        • Online Retails
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East & Africa

TOC Continued…!

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KEY INDUSTRY DEVELOPMENTS:

• April 2021: Ithaca Hummus unveiled two popular flavors, namely, Lemon Dill and Lemon Garlic in the sharing-size 17 oz. container for the first time. It would help the company to offer innovative products to those who consume the product on a regular basis.
• May 2020: Brami launched a new hummus made from lime juice, sunflower & olive oil, and lupini beans. It does not require refrigeration or contain artificial preservatives.

Olive Oil Market to Hit a CAGR of 3.2% by 2020-2027 | Increasing Incidence of Heart Disease to Favor Growth

 The global olive oil market size is expected to showcase considerable growth by reaching USD 16.64 billion by 2027. This is attributable to the increasing prevalence of heart disease and the growing demand for functional food products across the globe. Fortune Business Insights published this information, in its latest report, titled, “Olive Oil Market Size, Share & COVID-19 Impact Analysis, By Type (Refined Olive Oil, Virgin Olive Oil, Olive Pomace Oil, and Others), End-user (Household/Retail, Food Service/HoReCa, Food Manufacturing, and Others), and Regional Forecast, 2020 - 2027.” The report further observes that the market stood at USD 13.03 billion in 2019 and is projected to exhibit a CAGR of 3.2% between 2020 and 2027.

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from the governments, as well as from several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

Olive oil is naturally extracted from olives obtained from the olive tree. A major component of the Mediterranean diet, the oil is rich in antioxidants and has a rich source of monounsaturated fatty acids (MUFAs). Undergoing least processing amongst other edible oils, it protects the body from cellular damage that may otherwise lead to several diseases and health conditions

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What does the Report Include?

The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides a 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 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 Incidence of Heart Disease to Favor Growth

According to the World Health Organization (WHO), around 48% of adults living in the United States suffer from some form of cardiovascular ailments. This is nearly half of the American population. The rising prevalence of heart ailments is propelling the people to turn towards healthy food products that are likely to surge the demand for extra virgin olive oils, which are a rich-source of antioxidants. Additionally, the growing popularity of functional food products owing to the increasing awareness regarding consumption of nutritious foods is expected to drive the global olive oil market in the forthcoming years.

SEGMENTATION

Virgin Olive Oils Segment Held 73.07% Market Share in 2019

The virgin olive oils segment, based on type, held a market share of about 73.07% in 2019 and is projected to showcase a significant growth owing to the presence of oleic acid and Omega-3 in the oil that aid in the prevention of lifestyle-related disorders such as cardiovascular diseases and obesity.

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REGIONAL INSIGHTS

Europe to Remain Dominant; High Production of Edible Oils to Augment Growth

Among all the regions, Europe is expected to remain at the forefront and hold the highest position in the global olive oil market during the forecast period. The dominance is attributable to the large production of this oil in countries such as Italy and Spain. According to the Food and Agriculture Organization of the United Nations (FAO), Spain produces around 1.75 million tons of olive oil out of which about 46% is exported across the globe. The region stood at USD 6.67 billion in 2019.

The market in Asia-Pacific is expected to showcase a considerable growth backed by high disposable income of the population that propels the demand for premium healthy food products in the region between 2020 and 2027.

COMPETITIVE LANDSCAPE

Major Companies Focus on Facility Expansion to Strengthen Their Market Positions

The global olive oil market is consolidated by the presence of major companies that are striving to maintain their presence by expanding their facility to cater to the growing demand for nutritional extra virgin olive oils. Additionally, adoption of strategies such as merger and acquisition, partnership, and collaboration by key players will bode well for the growth of the global market in the forthcoming years.

INDUSTRY DEVELOPMENT

• August 2020 – Orfeu, a Brazil-based company, announced the production of a new range of olive oils. The company aims to cater to the surging demand for this oil in Brazil and further amplify its market position in the global marketplace.

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List of the Companies Operating in the Market:

• Salov SpA (Tuscany, Italy)
• Deoleo S.A. (Madrid, Spain)
• Aceites Ybarra S.A. (Sevilla, Spain)
• Sovena Group (Alges, Portugal)
• Del Monte Foods, Inc. (California, U.S.)
• Cargill, Inc. (Minnesota, U.S.)
• Bertolli, Inc. (Madrid, Spain)
• Aceites La Masia (Barcelona, Spain)
• Gallo (California, U.S.)
• Nutrinveste SGPS, SA (Alges, Portugal) 

Hemp Seeds Market To Rise At A CAGR Of 11.1% by 2020-2027 | Increasing Number of Health Conscious Consumers to Augment Growth

 The global hemp seeds market size is expected to rise at a CAGR of 11.1% and reach USD 1,634.6 million by the end of 2027. This is owing to the increasing availability of hemp-based products in most nations. A recent report by Fortune Business Insights titled, “Hemp Seeds Market Size, Share & COVID-19 Impact Analysis, By Form (Whole Hemp Seed, Hulled Hemp Seed, Hemp Seed Oil, and Hemp Protein Powder), Application (Food & Beverage, Personal Care Products, Industrial Products, and Others), and Regional Forecast, 2020 – 2027,” states that the value of this market was USD 710.7 million in the year 2019.

The COVID-19 pandemic has created a major dent on the world economy. Most of the businesses are temporarily shut owing to the imposition of lockdown by the governments of various nations. Other businesses operating within the four walls of their homes are barely able to manage meager revenue.

Fortune Business Insights is offering special reports describing the impact of COVID-19 on various markets. These reports will help investors analyze the various markets and accordingly prepare for future competition.

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Objectives of the Report:

• A 360-degree overview of this market
• Factors driving, restricting, challenging, and creating opportunities for the market
• List of key segments and names of the leading segments
• Marketing strategies adopted by players to gain competitive edge in the market

Drivers & Restraints:

Increasing Number of Health Conscious Consumers to Augment Growth

Hemp seeds are derived from the hemp plant, a different variety of the cannabis or marijuana family. They are highly nutritious and rich in minerals, healthy fats, proteins, and others. The increasing awareness about the nutritional properties of these seeds are considered the key factors promoting the global hemp seeds market growth. Besides this, they are also used by patients suffering from chronic diseases for its medicinal properties, thereby accounting to its growth.

On the flipside, most of the nations do not approve the use of hemp seeds or products based on hemp and have imposed complex regulations on the use of industrial hemp. This may hamper the growth rate in the coming years. This, coupled with the current spread of the novel coronavirus is also causing major hindrance to the market in the coming years.

 Despite this, the increasing demand from various applications such as personal care products, animal feed, food and beverage, and other industrial products are likely to create lucrative growth opportunities for the market in the coming years.

Segmentation:

Food & Beverage Segment Covered Major Shares Due to Rich Nutritional Properties

Among all segments in application type, the food & beverage segment accounted for the highest hemp seeds market share. In 2019, this segment earned 44.52% and emerged dominant on account of its high nutritional properties.

Regional Analysis:

Asia Pacific Held the Largest Share Owing to High Consumption by Developing Nations

Regionally, Asia Pacific earned USD 238.7 million in 2019 and emerged dominant accounting to the increasing demand for personal care products and high demand from emerging nations such as India, Australia, China, and Japan. Furthermore, the legalization of industrial hemp for use in food supplements will also aid in expansion of the market in the coming years.

On the other side, the market in Europe is expected to rise at a CAGR of 12.01% and emerge as the fastest growing region. This is accounting to the increasing consumption of these seeds in food products such as cereals, bars, smoothies, yogurt, and others from nations such as the U.K., Italy, Germany, and Netherlands.

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Competitive Landscape:

Players Focusing on Innovative Product Launches to Gain Momentum

Most of the players functioning in the global hemp seeds market are engaging in research and development to produce innovative products. Manufacturers with a large base are also engaging in merger and acquisition, and joint ventures with smaller companies in order to maintain a strong foothold in the market cmpetition.

Industry Developments:

February 2019 – Tilray Inc., a company based in Canada signed a pact with Manitoba Harvest to allow the entry of Nanaimo, a company growing pot based in British Columbia into the market in the United States.

List of the Leading Companies Profiled in the Hemp Seeds Market Research Report are:

• GFR Ingredients Inc. (Alberta, Canada)
• Manitoba Harvest (Winnipeg, Canada)
• Hemp Oil Canada Inc. (Manitoba, Canada)
• Canah International (Salonta, Romania)
• Yunnan HuaFang Industrial Hemp Co. Ltd. (Kunming, China)
• Hempflax BV (Oude Pekela, Netherlands)
• BAFA neu GmbH (Malsch, Germany)
• Liaoning Qiaopai Biotech Co., Ltd. (Jinzhou, China)
• North American Hemp & Grain Co. (Vancouer, Canada)
• Naturally Splendid Enterprises Ltd. (Pitt Meadows, Canada)
• Others

Sugar Alcohol Market to Hit a CAGR of 7.75% by 2027 | Increasing Demand for Gluten-free Food Products to Bolster Growth

The global Sugar Alcohol market size is projected to reach USD 6.70 Billion by 2027 backed by increasing demand for gluten-free food products across the globe. Fortune Business Insights, in its latest report, titled “Sugar Alcohol Market Size, Share & COVID-19 Impact Analysis, By Type (Sorbitol, Xylitol, Maltitol, Erythritol, and Isomalt), Application (Food and Beverages, Pharmaceuticals, and Cosmetics and Personal Care), and Regional Forecast, 2020 – 2027.” observes that the market was worth USD 3.61 Billion in 2019 and will exhibit a CAGR of 7.75% between 2019 and 2027.

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

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List of the Companies Operating in the Sugar Alcohol Market:

• Archer-Daniels-Midland Co. – Illinois, U.S.
• Cargill Incorporated – U.S.
• Ingredion Incorporated – U.S.
• Roquette Frères - France
• Tereos Starch & Sweeteners s.a.s - France
• Tate and Lyle plc – U.K.
• Pfizer Inc. – U.S.
• Lonza Group - Switzerland
• SPI Pharma – U.S.
• Merck KGaA – German

Sugar Alcohol also known as polyols are turning out to be the fast emerging alternative to sugar. Though they bore similar resemblance to sugar considering their texture and taste, they contain far less caloric content and fewer health hazards when consumed. In addition to this, several studies have shown that consumption of polyols may lead to improving the health of the consumer. Furthermore, they are hybrids between sugar molecules and alcohol molecules and are present in several fruits and vegetables. Though there are organic polyols, there are few processed from sugars such as cornstarch and glucose.

What does the Report Include?

The market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2020 and 2027. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the maret has been included during the projected horizon.

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Drivers and Restraints:

Increasing Demand for Gluten-free Food Products to Bolster Growth

Gluten-free food is turning out to be popular among the people across the globe. An array of benefits such as improved cholesterol levels, better digestive health, increased energy levels, and aiding weight-loss, among others provided by gluten-free diet is driving the companies to launch products to ushers into the popularity of the diet. Glucose syrup that includes polyols such as maltitol and sorbitol are extensively used across several regions. Furthermore, growing demand for corn-based glucose syrup that is believed to be gluten-free is expected to drive the growth of the market during the forecast period.

Regional Analysis:

Europe to Remain Dominant; High Demand for Sugar-Free Confectionary Products to Promote Growth

Among the regions, Europe is expected to remain at the forefront and register maximum global Sugar Alcohol market revenue during the projected horizon. Additionally, the region registered a high market share of USD 1.23 Billion in 2019 and is further anticipated to rise backed by growing demand for sugar-free confectionary products among the population. Furthermore, fast-paced lifestyle is leading to a growing consumption of processed foods in several countries of Europe that will aid the market growth. North America, on the other, is anticipated to be the second-most leading region in the forthcoming years. This is ascribable to factors such as increasing prevalence of diabetic patients in the U.S. Furthermore, the widespread effects of COVID-19 in the regions is propelling the demand for hand-sanitizers that will boost the demand for the market during the forecast period.

The market in Asia-Pacific is expected to witness substantial growth in the forthcoming years. This is attributable to factors such as presence of large population in the region. Furthermore, high production of polyols in the countries such as China and India will contribute to the market growth.

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Competitive Landscape:

Companies Collaborating to Combat COVID-19 to Augur Growth

According to the report, the market comprises of several small, medium, and large companies striving to gain maximum market share by consolidating their position during the forecast period. In addition to this, the companies are collaborating with each other to fight the global pandemic, Covid-19 and mitigate the threat to get back the economy on track. For instance, in March 2020, amid the widespread effect of novel coronavirus that has caused the scarcity of hand sanitizes, Gull New Zealand, a renowned petroleum company, announced that it would provide over 340,000 liters of ethanol along with Sugar Alcohol to manufacture hand disinfectants. This move is expected to fill the void caused due to scarcity of hand sanitizers across several regions that will prove beneficial to fight the pandemic.

Cooking Oil Market to Reach USD 281.72 Billion by 2028 | Surging Demand for Processed Foods Globally to Rise Demand for Cooking Oils

The global cooking oil market size was USD 186.55 billion in 2020. The market is projected to grow from USD 204.74 billion in 2021 to USD 281.72 billion by 2028 at a CAGR of 4.67% in the 2021-2028 period. This information is published by Fortune Business Insights, in its report titled, “Cooking Oil Market, 2021-2028.”

According to our researchers, the market is fueled by robust demand for organic and unsaturated healthier items. The rising usage of avocado oil for its nourishing health benefits, augmented demand for canola oil used in snacks owing to its affordability and versatility, and elevation in healthy soybean oil product presentations by chief companies are anticipated to influence the cooking oil market growth.

COVID-19 Impacts:

Favorable Growth owing to Rise in Household Utilization amid COVID-19 to Support Growth

The rise in the amount of people having home-cooked meals results in an increase in household cooking oil consumption per capita. On account of the preliminary hoarding and panic buying, there is storage issues and the shift from foodservice to retail. It is one of the categories that is limited to each customer in large retail chains.

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List of Key Players Mentioned in the Report:

• Cargill Inc. (Minnesota, U.S.)
• Archer Daniels Midland Company (Minnesota, U.S.)
• Bunge Ltd. (Missouri, U.S.)
• Wilmar International Ltd. (Singapore)
• Fuji Oil Company, Ltd. (Osaka, Japan)
• ConAgra Brands, Inc. (Illinois, U.S.)
• IFFCO Group (Dubai, UAE)
• Ottogi Co. Ltd. (Anyang, South Korea)
• Associated British Foods Plc (London, U.K.)
• CJ Cheiljedang Corporation (Seoul, South Korea)

Report Coverage:

The report delivers a methodical review of the market and an extensive examination of the prime segments of the market. It offers an in-depth breakdown of vital players and their strategies to sustain the market growth for fiscal gains. It also shares noticeable insights which lead business experts with their investment outlook. The regional dynamics and how they lead the market toward an upward curve are mentioned in the report. Moreover, COVID-19 impacts have been added for additional information and how it is anticipated to affect the demand for cooking oil in the near future.

Segments:

Type, Application, and Region are Studied

In terms of type, the market is segregated into soyoil, rapeseed/canola oil, palm oil, sunflower oil, corn oil, peanut oil, olive oil, and others. Based on application, the global market is classified into food service outlets, household, and food processing. Household to witness significant growth due to increase in use of branded oils for cooking, especially in urban household to maintain good health. On the basis of geography, the global market is further segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

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Drivers and Restraints:

Surging Demand for Processed Foods Globally to Rise Demand for Cooking Oils

Growing utilization of processed foods across the globe is anticipated to conduct a fundamental part in fast-tracking the market growth. Consumer inclination toward packed and processed food shall result in surge in demand for these oils by small food chains, household, and restaurants to make food, which is probable to drive the market. Additionally, the income growth rate pooled by urbanization and extension of middle class leads to varied diets are driving the requirement for processed food products.

Regional Insights:

Asia Pacific leads the global market and stood at USD 105.76 billion in 2020. The substantial growth in the region is preliminarily augmented by urbanization, dietary modifications, amplified availability of processed foods as well as refined living norms.

Europe holds the second largest cooking oil market share and has risen promptly in past years, owing to growing health awareness among consumers as well as their demand for product that are natural, pure, and label appealed.

North America is anticipated to display considerable growth prospects for the market owing to surge in demand for numerous processed ready-to-serve foods combined with surging per capita consumption of edible oils.

Competitive Landscape:

Groundbreaking Product Launches by Fundamental Players to Spur Market Growth

The fundamental players implement various tactics to boost their position in the market as leading companies. One such vital tactic is procuring companies to boost the brand value among users. Another operative strategy is intermittently unveiling inventive products with methodical study of the market as well as its target audience.

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Industry Development:

April 2021: Cargill Inc. to begin construction of a new rapeseed processing plant in Regina, Saskatchewan to support the growing global demand for rapeseed products. The company expects to begin construction of the USD 350 million project. The new rapeseed processing plant will help in increasing its rapeseed oil production, thereby allowing them to cater to the growing needs more effectively.

Cheese Analogue Market Share, Industry Size, Dynamics, Trends and Forecast by 2027

 The global cheese analogue market is set to gain momentum from the increasing adoption of vegan diet. Hence, manufacturers are focusing on developing cheese alternatives for the processed food industry. This information is given by Fortune Business Insights™ in a new report, titled, “Cheese Analogue Market Size, Share & COVID-19 Impact Analysis, By Type (Non-dairy Cheese Analogues, Dairy Cheese Analogues, and Partial Dairy Cheese Analogues), Application (Bakery and Confectionery, Breakfast Cereals, Animal Feed, and Others), and Regional Forecast, 2020 – 2027.” The report further states that the market size stood at USD 2,197.58 million in 2019 and is projected to reach USD 3,618.91 million by 2027, exhibiting a CAGR of 6.7% during the forecast period (2020-2027).

How Did We Develop This Report?

We have conducted thorough primary and secondary research to gather information about various aspects of the market. We have also conducted interviews with key stakeholders, such as marketing managers, sales managers, product managers, and C-level executives to derive insights, namely, application pattern, average pricing, raw material supply & demand, and growth rate. Besides, we relied on authentic paid databases, relevant associations, investor presentations, industry journals, and annual reports to deliver our clients in-depth details about value and supply chain analysis, revenues, restraints, opportunities, and trends.

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Drivers & Restraints-

Rising Demand for Novel Products with Altered Dietary Properties to Aid Growth

Imitation cheese is very cost-effective. Hence, many processed food manufacturers are aiming to use this product to lower the production cost of food items, such as lasagna, sandwiches, and pizzas. The International Journal of Chemical Studies, for instance, declared in a 2019 report that cheese analogues made out of the blend of acid casein and rennet casein were cheaper than milk cheese.

At the same time, these products are helping manufacturers to meet the consumers’ demand for state-of-the-art food infused with altered dietary properties. These factors are expected to bolster the cheese analogue market growth in the coming years. However, plant-based cheese has a plasticky texture and tastes bland. It may hamper its demand.

Segment-

Non-dairy Cheese Analogues Segment Generated 59.67% Share in 2019

Based on type, the non-dairy segment earned 59.67% in terms of the global cheese analogue market share in 2019. It is set to dominate throughout the forthcoming years backed by the high demand for plant-based cheese products from numerous end-use industries. These products are also very simple to manufacture as the required raw materials are easily available.

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Regional Insights-

Rapid Urbanization to Surge Popularity of Imitation Cheese in Asia Pacific

Geographically, Europe held USD 971.21 million in 2019 and would retain its leading position in the near future. This growth is attributable to the high demand for better-for-you non-dairy cheese alternatives in countries, such as Spain, Germany, France, and the U.K.

North America, on the other hand, is expected to remain in the second position fueled by the increasing usage of pasteurized processed cheddar and mozzarella in a wide variety of cheese dips, cheese causes, spaghetti, and salads in the region. In Asia Pacific, the market is set to grow considerably because of the high demand for cheese analogues occurring due to rapid urbanization.

Competitive Landscape-

Key Players Focus on Developing Unique Products to Attract More Consumers

The market houses numerous manufacturers that are mainly focusing on introducing novel cheese substitute to cater to the high consumer demand. Some of the others are also conducting extensive research and development activities to create plant-based products.

Below are the two latest industry developments:

• October 2020: Bel Brands USA introduced its latest plant-based and dairy-free Boursin cheese in Garlic & Herbs flavor. It is suitable for both flexitarians and vegans. This way, the company will be able to broaden its presence in the plant-based world.
• February 2020: Miyoko’s Creamery, a vegan dairy brand, unveiled its new plant-based mozzarella for the foodservice industry. The ‘Cultured Vegan Pizza Mozz’ tastes like its cow dairy analogue and can be used in myriad Italian style dishes, lasagnas, and pizzas.

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Dehydrated Potato Market to touch USD 8.84 billion by 2026

The global Dehydrated Potato Market size is slated to touch USD 8.84 billion by 2026, exhibiting a CAGR of 6.83% during the forecast period. Growing awareness regarding the nutritional value of instant potatoes and their variants is expected to be one of the central Dehydrated Potato Market trends in the upcoming decade. Instant potatoes are emerging as a viable alternative to regular potatoes in a world where hectic lifestyles have become a norm, which is taking a heavy toll on physical health. The US Department of Agriculture recommends a weekly intake of 5 to 6 cups of natural starch.

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Dehydrated potatoes can fulfill this bodily requirement, delivering almost the same amount of nutrients like regular potatoes, except in a more convenient and efficient manner. These foods also contain the three essential macronutrients – carbohydrates, proteins, and fats – delivering the daily dose of energy required by the human body to function. Moreover, according to the US Agency for International Development, instant potato products such as potato flakes are a good source of starch in cases of emergency. Thus, the instant potato market stands to benefit as people become more aware of the healthy properties of these products.

Fortune Business Insights™ shares this information and more in its new report, titled “Dehydrated Potatoes Market Size, Share & Industry Analysis, By Form (Flakes, Powder, Dices, Shreds, and Others), Nature (Organic and Conventional), By Distribution Channel (Food Services and Retail Channel), and Regional Forecasts, 2019 – 2026”. As per the report, the value of this market stood at USD 5.23 billion in 2018.

The report also includes:

• In-depth research into the factors driving and restraining the market;
• Piece-meal study of all the possible segments of the market;
• Precise computation of market values; and
• Comprehensive analysis of the regional and competitive dynamics shaping the future of the market.

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Gathering Pace of Urbanization Worldwide to Escalate the Demand for Ready-to-Eat Foods

The number of people living in urban areas is rising at a steady pace all around the globe as a result of economic growth and development, especially in developing nations. The UN’s Department of Social and Economic Affairs predicts that Asian and African countries will account for around 90% of the rise in the global urban population by 2050. The birth of knowledge-based economies has created jobs in cities and metros that usually require people to sit in one place and perform data collection and analysis tasks on a daily basis.

Consequently, sedentary lifestyles have become commonplace and lives have gotten faster, both of which are adversely affecting human health. With little time to spare for cooking, consumer preference in urban areas is increasingly shifting towards ready-to-eat products, such as dehydrated potatoes, to meet the daily energy needs of the body.

Increasing Population to the Drive the Market in Asia-Pacific

Among regions, Asia-Pacific is forecasted to dominate the Dehydrated Potato Market share in the coming decade owing to the rapidly rising populations in India and China. These countries also have a steadily expanding middle class that is actively consuming nutrition-laden processed foods. Furthermore, China and India are some of the largest producers of potatoes in the world, which will aid the instant potatoes market growth in the region. Lastly, the large consumer base is attracting companies from developed nations to establish themselves in this fledgling market, thereby accelerating the Dehydrated Potato Market revenue during the forecast period.

Competitors to Focus on Upgrading Production Capacities and Diversifying Operations

Major players are directing their investments towards enhancing their production capabilities and expanding their operational range, according to the instant potatoes market analysis. This would provide the companies with a solid base for building their brand value in this market.

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