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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Dips and Spreads Market Size to Hit USD 132.2 Billion by 2029, Exhibiting a CAGR of 5.43% by 2022-2029

 

The global dips and spreads market size was USD 85.6 billion in 2021. The market is set to expand from USD 91.3 billion in 2022 to USD 132.2 billion by 2029, exhibiting a CAGR of 5.43% over the estimated period. The rise is being driven by the growing usage of various condiments in a range of foods such as finger food and appetizers. Fortune Business Insights™ cites this information in its research report, titled “Dips and Spreads Market, 2022-2029”.

COVID-19 Impact:

Industry Value Surged Due to Growing Demand in Households

The coronavirus pandemic led to the imposition of lockdown measures for combating the spread of the virus. However, the period registered a change in the eating preferences of consumers. Households, particularly, recorded an increase in product consumption due to increase in preparation of various food dishes at home.

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List of Key Players Mentioned in the Report:

• The Kraft Heinz Company (U.S.)
• Campbell Soup Company (U.S.)
• Greendot Health Foods Pvt Ltd (India)
• PepsiCo (Frito-Lay) (U.S.)
• McCormick and Company, Inc. (U.S.)
• Wingreens Farms Pvt Ltd (India)
• AVT Gavia Foods Pvt Ltd (India)
• Conagra Brands, Inc (U.S.)
• Sandridge Food Corporation (U.S.)
• Veeba Foods (India)
• Britannia Industries Limited (India)

Segments:

Cheese Segment to Depict Lucrative Growth Due to Increasing Product Demand in Various Cuisines

By type, the market is fragmented into cheese, mayonnaise, salsa, and others. The cheese segment is expected to record commendable growth throughout the estimated period. The rise is due to the surging product usage in the preparation of various foods.

B2B Segment to Gain Traction Driven by the Availability of Various Products

Based on distribution channel, the market is segmented into B2C and B2B. Of these, the B2B segment is estimated to register appreciable expansion over the study period. The surge can be credited to the growing sales of the products to businesses such as restaurants and hotels.

On the basis of geography, the market has been analyzed across Asia Pacific, Europe, South America, North America, and the Middle East & Africa.

Drivers and Restraints:

Growing Popularity of Ethnic Cuisine to Boost Product Demand

The dips and spreads market growth is being driven by the growing popularity of ethnic cuisine and the increasing usage of various ingredients for enhancing the dining experience. Some of the popular ethnic foods comprise Italian food, Chinese food, Mexican food, and others.

Hence, the industry expansion could be hampered by the higher prices of organic dips and lower product adoption in rural areas.

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Regional Insights:

Asia Pacific to Emerge as a Leading Region Owing to the Presence of Well-established Restaurants

The Asia Pacific dips and spreads market share is set to depict appreciable expansion over the forecast period. The surge can be attributed to the escalated product demand in developing countries such as Australia, Japan, India, and China.

The Europe market is estimated to register considerable growth throughout the estimated period. The rise is being driven by the escalating product usage in the Europe region.

Competitive Landscape:

Major Players Ink Partnership Agreements to Propel Industry Expansion

Leading dips and spreads companies are centered on the adoption of a series of strategic initiatives for the consolidation of industry position. These include merger agreements, acquisitions, and the launch of new products. Some of the other steps comprise increasing participation in trade fairs and conferences and an increase in research initiatives.

Report Coverage:

The report delves into the significant trends propelling the industry scenario throughout the forecast period. It also gives an insight into the major factors boosting the global business landscape. Some of the other aspects of the report include the vital steps taken by major market participants for strengthening their position in the industry.

Key Industry Development:

May 2022 – Litehouse Inc. rolled out its new line of thick and creamy dips and spreads. The new line combines bold flavors with the delicious taste of Litehouse dressings.

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U.S. Liquid Coffee Market to Hit USD 9.61 billion by 2029, exhibiting a CAGR of 6.17% by 2022-2029

The U.S. liquid coffee market size was USD 6.01 billion in 2021. The market is expected to grow from USD 6.33 billion in 2022 to USD 9.61 billion by 2029, exhibiting a CAGR of 6.17% during the forecast period. In semi-urban and urban areas, the coffee shop market is increasing due to the growing population, demand for new generational cafes, and disposable income of young consumers. Based on our analysis, the U.S. market exhibited an average growth of 3.80% in 2020 compared to 2019 due to COVID-19-related disruptions. Fortune Business Insights presents this information in their report titled “U.S. Liquid Coffee Market, 2022-2029.”

COVID-19 Impact:

Global Market Experienced Fall Due to Closure of the HoReCa Sector

The demand for retail liquid coffee increased during the period of COVID-19 pandemic, and mandatory government laws such as complete lockdowns in the U.S. to curb the spread of the disease negatively impacted coffee sales. Consumers brewed their coffee at home due to strict lockdown implications which positively impacted the sales of coffee pods and capsules. There has been a rise of 55% out of home coffee consumption by Americans, according to NCAUSA and NCDT. At cafes and restaurants, it has been increased by 20% since January 2011.

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List of Key Players Profiled in the Report

• The Kraft Heinz Company (U.S.)
• The J.M. Smucker Company (U.S.)
• Eight O' Clock Coffee Company (U.S.)
• The CAFEA Group (Germany)
• Keurig Dr Pepper Inc. (U.S.)
• Neumann Gruppe GmbH (Germany)
• John Swire & Sons Ltd. (U.K.)
• All American Coffee LLC (U.S.)
• JDE Peet's (Netherlands)
• Gavina & Sons, Inc. (U.S.)

Segments:

Flavored Coffee Segment to Record Substantial Growth over 2022-2029

Based on type, the market is divided into flavored and unflavored. Generation Z and millennials are inclined toward trying new flavors of coffee, which is expected to drive the U.S. liquid coffee market growth. Flavored coffee is a preferred beverage among office workers and professionals as a refreshing drink. Coffee producers have focused on producing more unique and authentic flavors to achieve consumer attention and boost flavored coffee sales.

Food Service Industry Gained Traction Due to Increased Demand for Instant Liquid Coffee

Based on end-user, the market is segmented into household, food service industry, and processed food industry. The U.S. market is dominated by the food service industry, which is anticipated to grow at a significant CAGR during the forecast period. Involvement of the food service industry in hotels, restaurants, motels, cafes, takeaway outlets, fast food restaurants, and food delivery kiosks that offer instant coffee is likely to gain the U.S. liquid coffee market share. 

Report Coverage:

The report offers:

• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into the regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.

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Drivers & Restraints:

Increasing Demand For RTD Products to Foster Market Growth

Café culture has brought light on ready-to-drink coffee to the U.S. The product is becoming popular among young adults and the middle-aged working population as it is a prime source for instant energy. Lavazza, an Italian coffee giant entered the U.S. ready-to-drink coffee market in April 2022. The distribution of RTD coffee has also expanded to various mainstream channels such as hypermarkets, specialist stores, supermarkets, grocery stores, and convenience stores. Convenience and ease with supermarket purchases and rise in demographic spending are expected will be a vital path for RTD coffee manufacturers.

On the contrary, distribution, shipping, marketing, and advertising drive up coffee costs. Distribution and shipping from coffee-producing countries to coffee-consuming countries play a vital role in the final cost of coffee.

Competitive Landscape

Key Players Prioritize Product Innovation and New Product Launches to Accelerate Market Growth

The major participants in the U.S. market place a strong emphasis on new product development methods and innovations. The companies are focusing on developing new tastes of coffee, such as coffee spritzers and nitro coffee, as well as enhancing the efficiency of the coffee extraction process without compromising flavor.

Key Industry Development:

March 2021: The J. M. Smucker Company and JDE Peet's entered into a strategic liquid coffee partnership. This partnership will enable JDE Peet's to assist Smucker's away-from-home coffee business with food service, production equipment innovation, and product development.

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Cognac & Brandy Market to Hit USD 18.17 billion by 2029 with a CAGR of 5.30% by 2022-2029

The global cognac & brandy market size was valued at USD 11.67 billion in 2021 and USD 12.66 billion in 2022. The market is expected to reach USD 18.17 billion by 2029 with a CAGR of 5.30% during the forecast period. The growing trend for consuming high-quality spirits is expected to propel the market course. The rising trend for cocktail culture at the time of various social events and festivities/occasions is expected to facilitate market development for cognac & brandy. Fortune Business Insights™ shares this information in its report titled “Cognac & Brandy Market, 2022-2029.”

COVID-19 Impact:

Decline in Demand for Spirits During Pandemic Led to Negative Market Growth

Due to the COVID-19 pandemic, the sale of products and profits declined. The prominent players in the market such as Remy Martin, Pernod Ricard, and Diageo faced a decline in their import and export activities due to strict government regulations imposed on the production and supply of alcoholic beverages. Shortage of manpower in production units and difficulties in the procurement of raw materials created a number of hindrances for the brewing industries. According to Remy Cointreau, sales were dipped by 1.4% during the year 2020-21.

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Segments

Super Premium to Dictate due to Increasing Demand from Millennials

Based on type, the market is divided into value, premium, high-end premium, and super premium. The super premium segment is anticipated to have the largest part due to rising demand from millennials to try new premium drinks, growing earnings, and a surge in socialization. As per the British Newspaper, the Guardian, the sales of super-premium spirits grew by 20% in 2022.

On-Trade Channel to Lead the Segment Due to High Reliance

On the basis of distribution channel, the market is categorized into on-trade and off-trade. On-trade channel is expected to have a major part due to customers’ reliance on “on-premise” consuming outlets to fulfill their demand for food and beverages. The off-trade segment is set to have the fastest growth due to increasing number of retail stores, supermarkets, and other online options along with easy accessibility of products.

Drivers and Restraints

Influence of Digitalization to Propel Market Progress

The influence of digitalization on the young population is anticipated to drive the cognac & brandy market growth. Online social media sites such as Facebook, Instagram, and YouTube have increased in recent few years and created a modern environment in which Gen Z and young adolescents are present. Moreover, numerous other studies have stated that majority of adolescents and the Gen Z population (approximately 36%-96%) display alcohol-related pictures on Facebook. For instance, in June 2022, Pernod Ricard announced the launch of its latest “digital label system”, which will educate consumers about the purchased products and promote responsible drinking for a better future. 

However, increasing awareness regarding the consequences of excess consumption of alcoholic drinks is expected to impede the market growth.

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Regional Insights

North America to Lead Market Share Owing to Demand for Artisanal Spirits

North America is expected to lead the cognac & brandy market share due to demand for artisanal spirits and increasing number of craft distilleries in the region, which is anticipated to drive the market growth. Increasing levels of population and rising demand for distilled spirits in the U.S. and Canada in the region are expected to drive market growth.

Asia Pacific is set to have the second-largest region due to the rising demand for locally produced brandies. In January 2021, Paul John Distillery developed a new brandy called Paul John XO Grape Brandy, which is prepared from locally grown Indian grapes.

Europe is set to have steady growth due to increasing number of food service chain outlets that offer variety of spirits. Moreover, there is a trend of healthy lifestyle and consumers seeking such beverages made from natural botanical ingredients and fruit flavor blends.

Competitive Landscape

Collaboration Strategies by Key Players to Push Market Development

The market has various key cognac & brandy players who have increased their production of spirits. The market has Remy Martin, Pernod Richard, and Hennessey LVMH as huge players. There are inventions and new product launch with the assistance of collaboration strategies to attract a vast customer base, thus improving revenue. In October 2022, Fortnum & Mason collaborated with Frapin single-family estate for launching their own cognac “Hors d’ Age”. This new cognac has been made to be enjoyed neat and can be paired with rich chocolate desserts or baked apple.

Key Industry Development

September 2022- Tilaknagar Industries announced the launch of its new brandy, under its flagship brand, Mansion House. The Mansion House Reserve French Style Brandy is prepared from the “Ugni Blanc” grapes which are handpicked from the Sahyadris in India.

List of Key Players Profiled in the Report

• Remy Martin (France)
• Hennessy LVMH (France)
• Pernod Ricard (France)
• Radico Khaitan Ltd. (India)
• Naud Spirts & Distillery (France)
• Emperador Distillers Inc, (Philippines)
• Suntory (Japan)
• Meukow Cognac (France)
• Thomas Hine & Co., (France)
• Maison Ferrand (France) 

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Herbal Medicine Market Size to Hit 11.16% CAGR 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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