Market Overview:

The global sugar substitutes market size was valued at USD 8.36 billion in 2023 and is projected to grow from USD 8.89 billion in 2024 to USD 16.31 billion by 2032, exhibiting a CAGR of 7.88% during the forecast period.

This information is provided by  Fortune Business Insights , in its report titled, “ Sugar Substitutes Market, 2024-2032 .”

List of Key Players Mentioned in the Report:

• Cargill Incorporated (U.S.)
• Tale & Lyle (U.K.)
• ADM (U.S.)
• Ingredion Incorporated (U.S.)
• Roquette Freres (France)
• Real Stevia Company (Sweden)
• Pyure Brands LLC (U.S.)
• JK Sucralose Inc. (China)
• DuPont (U.S.)
• Ajinomoto Co. Inc.(Japan)

Segments:

Expansive Application in Food & Beverage to Encourage Growth of the Saccharin Segment

On the basis of type, the market is segmented into aspartame, ace. k, saccharin, sucralose, stevia, sugar alcohols, and others. The utilization of saccharin is particularly noteworthy for people whose diets necessitate calorie or carbohydrate constraint to people with obesity and diabetes.

Food & Beverage Segment to Grow Rapidly Owing to Consumer Inclinations for Low-Calorie Choices

Sugar substitutes are presently utilized in beverages such as carbonated diet drinks, flavored waters, and other beverages. Major players in the beverage industry favor ingredients such as saccharin and sucralose. Expanding consumer base for beverages provides incentives for developing new sugar alternatives and products, thereby driving the food & beverage segment growth.

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

Source: https://www.fortunebusinessinsights.com/industry-reports/sugar-substitutes-market-100261

Report Coverage:

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

Drivers and Restraints:

Adverse Health Effects Owing to Over Usage of Sugar Drives Market Growth

Speedy industrialization throughout the globe has resulted in an upsurge in urbanization in recent years. People are living a more deskbound lifestyle with increased amount of time expended in the office and absence of exercise. Therefore, an unevenness in food intake is forming energy imbalance in their bodies. The amount of calorie consumption surpasses the quantity of calories that are exhausted by the body. Ingestion of calorie-rich food products resulted in fat build-up in the body and obesity. Whereas, obesity is accountable for producing numerous health concerns such as cardiovascular disease, type 2 diabetes, high blood pressure, and cancer. Therefore, users are expansively demanding low-calorie sweeteners for food and beverages.

Regional Insights:

North America to Lead Stoked by Rising Low-Calorie Food Consumption

North America is among the prime consumers of sugar substitute products across the globe. Another major navigating factor is the surging requirement to raise awareness of low-calorie food consumption in the region. Admiration of healthy foods and beverages among the North American population is the prime aspect predicted to hold the largest sugar substitutes market share.

In Asia Pacific, industrialization has resulted in an upsurge in disposable income between the middle-class population in the region. This has amplified the demand for health-refining products, comprising high-quality and nourishing food products.

In Europe, diverse sugar substitutes, such as stevia, sucralose, sugar alcohols, and similar products, are trending highly among consumers. This has resulted in sugar substitute producers to discover the probability of creating inventive, tastier, high-quality, and nutritious sugar substitute products for the developing market.

Competitive Landscape:

Acquisitions Initiated by Key Companies to Promote Market Growth

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

Key Industry Development:

July 2023:  Tate & Lyle PLC launched a new addition to its sweetener portfolio named TASTEVA SOL stevia sweetener. The new ingredient is premium-tasting stevia, which has 200x the solubility of Reb M and D products.

Market Overview

The global pet food market size was valued at USD 120.87 billion in 2023 and is projected to grow from USD 126.66 billion in 2024 to USD 193.65 billion by 2032 , exhibiting a CAGR of 5.45% during the forecast period. North America dominated the Pet Food Market with a market share of 42.55% in 2023.

Fortune Business Insights™  has deep-dived into these insights in its latest research report, titled, “ Pet Food Market ,  2024-2032 .”

The analysis shows that top companies are investing more in pet foods because more people are owning pets. For example, Mars Petcare said that the sales of cat and dog treats increased by 6.5% from February to May 2020. This trend indicates a strong demand for pet food worldwide.

Major Players Profiled in the Market Report:

• Mars Incorporated (Virginia, U.S.)
• Nestle S.A. (Vevey, Switzerland)
• The J.M. Smucker Company (Ohio, U.S.)
• Colgate-Palmolive Company (New York, U.S.)
• General Mills, Inc. (Minnesota, U.S.)
• Diamond Pet Foods (Missouri, U.S.)
• Heristo AG (Osnabruck, Germany)
• Tiernahrung Deuerer GmbH (Bretten, Germany)
• Merrick Pet Care, Inc. (Texas, U.S.)
• WellPet LLC (Massachusetts, U.S.)

Source: https://www.fortunebusinessinsights.com/industry-reports/pet-food-market-100554

Segments

Increasing Launch of Dog Treats to Propel Dog Segment Growth

Based on animal type, the market is divided into dogs, cats, and others. The dog segment holds the largest market share and dominates the market owing to the growing introductions of dog treats and nutrition-rich pet food globally.

High Convenience and Shelf-life to Drive Dry Pet Food Segment Expansion

By form, the market is categorized into dry, wet, and snacks & treats. The dry pet food segment is leading the market as there is a high demand for dry food due to its high convenience and shelf-life compared with wet food.

Supermarket/Hypermarket to Dominate the Market Due to their High Preference among Consumers

Based on distribution channel, the market is segmented into supermarket/hypermarket, specialty stores, online channel, and others. The supermarket/hypermarket segment holds the largest market share owing to their high preference among consumers as these markets offer convenience in terms of choices for prices and brands.

Animal Segment’s Leading Growth Owed to its Increased Popularity

Based on source, the market is split into animal and plant. The animal source segment leads market growth owing to its increased popularity and high consumption of animals to produce dog and cat food products. These food products are widely available due to their high popularity.

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

Report Coverage

The report offers:

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

Drivers & Restraints

Growing Pet Humanization to Propel Market Growth

The rapid growth in pet humanization has raised the demand for premium pet food among people as they are more inclined to spend on high-quality and healthy food products for their pets, boosting the pet food market growth. Pet humanization is rising globally due to the increased pet ownership of millennials.

However, the increasing competitiveness between the products driving the rising market competitiveness and lower premium or high-priced food across the developing markets may hamper market growth.

Regional Insights

Large Adoption of Pet Humanization in the U.S. Propels Market Growth in North America

North America holds the dominant pet food market share and is projected to experience growth during the forecast period. The region’s growth is attributed to the wide adoption of pet humanization, further encouraging the development of natural and nutritious pet foods produced for pet animals.

Asia Pacific is one of the fastest-growing regions in the market. The growth is attributed to the rapid increase in pet ownership in developing nations, including South Korea, China, India, Japan, and others.

Pet Food Market Future Growth:

The pet food market is poised for strong growth, driven by increasing pet ownership, humanization of pets, and demand for premium, health-focused products. Consumers are seeking pet food with high-quality, natural ingredients, including organic, grain-free, and functional additives that support wellness. Trends in pet health awareness and specialized diets—such as raw, freeze-dried, and fresh pet foods—are also propelling the market. E-commerce growth, coupled with the expansion of pet ownership in emerging markets, further boosts the sector. North America and Europe lead in premium offerings, while Asia-Pacific sees rising demand due to increasing pet adoption and urbanization.

Competitive Landscape

Growing Adoption of Mergers and Acquisitions Strategies to Propel Market Growth

The market comprises key players, such as Colgate-Palmolive, Nestle Purina Petcare, and others. The growing adoption of strategies by these major market players, including brand strengthening, innovative product launches, online distribution of products, and mergers and acquisitions, drives market growth.

Key Industry Development

November 2023 – A well-known Czech pet food producer, Vafo Group, announced the introduction of its new brand, Planet Pet Society. With Planet Pet Society, the company seeks to expand its operations in the sustainable dog and cat food market.

Market Size:

The global non-alcoholic beverages market size is anticipated to rise significantly on account of the current trend of health and fitness and the rising inclination towards healthy beverages. As per a recent published report by Fortune Business Insights titled,  “Non-alcoholic Beverages Market Size, Share & Industry Analysis, By Type (Carbonated Soft Drinks, RTD Coffee & Tea, Bottled Water, and Fruit Beverages), Distribution Channel (Supermarket/ Hypermarket, Food Services Sector, Convenience Stores, Specialty Stores, and Online Retails), and Regional Forecast, 2020-2032,” 

The global non-alcoholic beverages market size was valued at USD 919.13 billion in 2019 and is projected to reach USD 1601.87 billion by 2032, exhibiting a CAGR of 6.84% during the forecast period based on our analysis in the existing report.

List of Companies Profiled in the Report:  

• Pepper Snapple Group, Inc. (Texas, U.S.)
• Monster Beverage Corp (California, U.S.)
• PepsiCo, Inc. (New York, U.S.)
• ITO EN Ltd (Tokyo, Japan)
• The Coca-Cola Company (Georgia, U.S.)
• Reed’s, Inc. (Norwalk, U.S.)
• The Kraft Heinz Company (Chicago, U.S.)
• Appalachian Brewing Co. (Harrisburg, U.S.)
• Nestle S.A. (Vevey, Switzerland)
• Arca Continental SAB de CV (Monterrey, Mexico)    

The Report is based on the following factors:

• A 360-degree overview of the market focusing on drivers, restraints, challenges, and upcoming opportunities
• Nature of market and list of key players operating in the market for non-alcoholic beverages
• Detailed list of segmentation with names and figures of leading segments
• Future of the market

Source: https://www.fortunebusinessinsights.com/industry-reports/non-alcoholic-beverages-market-101927

Drivers & Restraints-

Increasing Popularity of Refreshment Drinks to Aid in Favor

The growing prevalence of both acute and chronic diseases has driven people to adopt healthier lifestyles, which include regular exercise and the consumption of nutritious foods and beverages. This shift towards healthier living and dietary habits is a major factor fueling the growth of the global non-alcoholic beverages market. Additionally, the rising popularity of refreshment drinks, along with the introduction of innovative flavors and tastes, is expected to further boost market expansion during the forecast period.

However, the market may face challenges due to fluctuating prices of raw materials used in non-alcoholic beverages, particularly seasonal fruits, and potential supply shortages. Despite these obstacles, the growth of e-commerce platforms and increased production of soft drinks to meet consumer demand are likely to create lucrative opportunities for the market in the coming years.

Segmentation-

Carbonated Soft Drinks Segment Emerged Dominant Owing to its Refreshing Properties

Among all segments in type, the carbonated soft drinks segment earned 39.80% share in 2019 and emerged dominant. This segment is holding the largest non-alcoholic beverages market share on account of its refreshing properties and cost-efficiency.

Regional Analysis-

Asia Pacific Held Largest Shares Attributing to Rising Disposable Income of People

Among all regions, Asia Pacific held the largest non-alcoholic beverages market share in 2019. This is attributable to the increasing modernization and adoption of western habits among people that resulted in rise in expenditure on beverage products. On the other side, the North American market earned USD 199.53 billion and will showcase significant growth in the coming years on account of rising demand for sports drinks and RTD beverages in the region. Besides this, the Europe market will witness a notable growth on account of the decline in consumption of alcoholic beverages and increasing popularity of ‘better-for-you” products, thereby promoting the consumption of healthy soft drinks.

Non-Alcoholic Beverages Market Future Outlook* Growing Health Consciousness: More consumers are focusing on health and wellness. This trend is driving demand for low-calorie and sugar-free options.

• Diverse Product Range: The market is expanding with innovative flavors and formulations. Brands are introducing everything from sparkling waters to herbal teas to meet diverse tastes.

• Sustainability Focus: Eco-friendly packaging is becoming a priority. Many brands are adopting sustainable practices to appeal to environmentally conscious consumers.

Competitive Landscape-

Coca-Cola Company is Dominating Market Attributing to Continuous Innovations

The global non-alcoholic beverages market is highly consolidated, with a few key players, such as Nestlé S.A., The Coca-Cola Company, and PepsiCo Inc., holding a significant share. The Coca-Cola Company leads the market through its ongoing innovations in beverage products, including its VitaminWater line, probiotic drinks, fermented beverages, and ready-to-drink (RTD) options. For instance, in March 2019, Coca-Cola launched a Jaljeera-flavored drink in the Indian market. Other companies are also heavily investing in innovative product launches to gain a competitive advantage. Additionally, many are pursuing collaborative strategies, including agreements, contracts, joint ventures, and partnerships, to drive substantial revenue growth in the coming years.

Industry Developments:

December 2019 –  The launch of a greenhouse accelerator program in 2020 was announced in North America by PepsiCo Co. to help smart startup companies provide the base for following up with the current trends in the non-alcoholic beverage segment and earn a position in the market competition.

Market Size:

The global savory ingredients market size was valued at USD 7.25 billion in 2018 and is projected to reach USD 19.12 billion by the end of 2032, exhibiting a CAGR of 7.34% in the forecast period based on our analysis in the existing report.

The rising uptake for savory ingredients has resulted from the high demand for variety in flavors in food products across the world. There are several ongoing research studies, vested in research and development of savory ingredients manufactured in accordance with the regulatory compliances. Leading companies are increasing R&D activities for the development of ingredients according to taste and flavor preferences based on regional demographics. Fortune Business Insights states that the demand for savory ingredients is inclined towards Japan and China, with Japanese cuisines holding a massive potential for savory ingredients. Additionally, the advancements in ingredient solubility methods such as encapsulation and powdered form will contribute to the increasing demand for savory ingredients. The increasing demand will favor the growth of the global savory ingredients market in the forthcoming years.

Symrise’s Launch of Clean Labelled Culinary Base Products Will Enable Market Growth

The demand for clean labelled products has resulted from increasing health awareness across the world. In the wake of an outcry for clean-labelled products, many companies are adapting to this strategy. This factor will help the company acquire a strong consumer base, which in turn will favor growth of the global savory ingredients market. In 2018, Symrise Flavor N.A. introduced an extensive line of culinary base ingredients with clean-labelled packaging. The company stated that its latest collection includes a wide range of vegetables and spices, thereby pertaining to a widespread audience. Fortune Business Insights states that the launch of products within the clean-label regulatory framework will aid the growth of the global savory ingredients market.

Sourece: https://www.fortunebusinessinsights.com/industry-reports/savory-ingredients-market-100256

KEY COMPANIES COVERED IN THE REPORT

• Ajinomoto Co., Inc.
• Koninklijke DSM N.V.
• Kerry Group PLC
• Tate & Lyle PLC
• Symrise AG
• Givaudan SA
• Sensient Technologies Corporation
• Savoury Systems International LLC
• Ingredients Ltd.
• Synergy Flavors

Kerry Group’s Dual Acquisition Will Boost the Global Market

The demand for savory ingredients has risen significantly in recent years due to changing lifestyle dietary habits. The savory ingredients are being used for the manufacture of healthy foods as well as vegan-based diets, to enhance overall taste of the food products. Resulting from the soaring demand, companies are engaged in attractive business strategies and are conducting mergers and acquisitions, company collaborations, and agreements. In December 2018, Kerry Group announced that it plans to acquire two renowned food companies for a combined total of over US$ 300 Mn. Kerry Group’s plans to acquire Ariake Japan Co. and Southeastern Mills (SEM), with an aim of expanding its clean-label product distribution to several countries across the world. The report identifies a few of the leading company mergers and acquisitions that have accounted for growth of the global savory ingredients market. Besides mergers and acquisitions, the report includes several factors that have made growth contributions to the global market.

Fortune Business Insights has labelled some of the leading companies that have made a positive impact on the global savory ingredients market. Some of the companies that have made significant growth contributions to the global market are Ajinomoto Co., Inc., Koninklijke DSM N.V., Kerry Group PLC, Tate & Lyle PLC, Symrise AG, Givaudan SA, Sensient Technologies Corporation, Savoury Systems International LLC, C.P. Ingredients Ltd., and Synergy Flavors.

Key Industry Development:

• In January 2018, Symrise AG introduced clean-label culinary bases in response to the growing consumer demand for products with cleaner labels.
• In December 2018, Kerry Group enhanced its food service capabilities by acquiring Ariake U.S.A., Inc., a company specializing in the production of natural seasonings, including natural clean label savory taste solutions.

Market Overview:

The global breakfast cereal market size was valued at USD 36.38 billion in 2023. The market is expected to expand from USD 38.12 billion in 2024 to USD 58.35 billion by 2032, exhibiting a CAGR of 5.47% over the study period.

Breakfast cereals refer to processed food products that usually feature grains, including oats, wheat, barley, and others. Western diets are growingly being adopted and consumers are exploring new products and processed foods in various flavors. The surging popularity of processed foods in emerging economies is proliferating the market’s growth.

List of Key Players Mentioned in the Report:

• Kellogg’s Company (U.S.)
• Nestle S.A. (Switzerland)
• Post Holdings (U.S.)
• General Mills, Inc. (U.S.)
• Ltd. (U.S.)
• Marico Limited (India)
• Bagrrys India Limited (India)
• B & G foods (U.S.)
• Sanitarium Health Food Company (Australia)
• Bob’s Red Mill Natural Foods (U.S.)

Segmentation:

On-the-go Consumption of Ready-to-eat Cereals to Impel Segment Growth

On the basis of type, the market is segmented into ready-to-eat cereals and hot cereals. The ready-to-eat cereals segment occupies the largest share, driven by the quick consumption of ready-to-eat cereals.

High Availability of Conventional Products to Boost Segment Expansion

In terms of category, the market is categorized into conventional and organic. The conventional segment witnesses the largest breakfast cereal market share owing to the huge availability of conventional products.

Ready Availability of Broad Collection of Products to Accelerate Supermarkets/Hypermarkets Segment Growth

Based on distribution channel, the market is divided into supermarkets/hypermarkets, convenience stores, online retail, and others. The supermarkets/hypermarkets segment holds the largest market share owing to the diverse collection of products being readily available in one place.

Regionally, the market for breakfast cereal is categorized into South America, Asia Pacific, Europe, North America, and the Middle East & Africa.

Source: https://www.fortunebusinessinsights.com/industry-reports/breakfast-cereals-market-100535

Report Coverage

The competitive strategies deployed by top companies to attain the largest share have been mentioned in the research report. Besides this, it provides a comprehensive coverage of the top trends, notable industry developments, and the impact of the COVID-19 pandemic on market growth. It further highlights the key factors propelling the market growth.

Drivers and Restraints:

Increasing Demand for Convenience Food to Expedite Market Growth

The market has witnessed a surge in the popularity and demand for portable cereals, including ready-to-eat products among consumers, driven by the rising popularity of the on-the-go lifestyle. Owing to their convenient nature and longer shelf life, processed foods such as breakfast cereals are increasingly becoming popular among consumers.

Despite such growth opportunities, the presence of sugars and carbohydrates, which are related to many diseases, discourages product adoption further stifling the breakfast cereal market growth.

Regional Insights:

North America Led Owing to Encouragement by Health Associations to Purchase Products with Lower Sugar Content

North America occupied the largest market share in 2023 as health associations are encouraging consumers to buy products with lower sugar content, which creates awareness and reduces their sugar consumption.

Asia Pacific’s market growth is fueled by the rising popularity of Western diets. Rise in disposable incomes, shift in consumer behavior, and escalating demand for processed food boasts substantial growth.

Competitive Landscape:
Key Players Leverage Partnerships to Release Innovative Products

The breakfast cereal market is witnessing the popularity of budget-friendly and portion-controlled individual cereal packs among consumers. Different competitive strategies, such as mergers, acquisitions, joint ventures, and capacity expansions, are being leveraged by top companies to keep ahead of their competition. Many companies are focusing on partnership deals to launch innovative products.

Key Industry Development:

April 2023:  Kellogg’s announced a partnership with the ICEE Company, a J&J Snack Foods Corp. subsidiary, to launch NEW Kellogg's ICEE Cereal. The new cereal uses an innovative ingredient and has been developed by taking inspiration from ICEE's best-selling Cherry and Blue Raspberry flavors.

Market Overview :

The global ice cream market size was valued at USD 76.11 billion in 2023 and is projected to grow from USD 79.08 billion in 2024 to USD 132.32 billion by 2032, exhibiting a CAGR of 6.65% during the forecast period.  

Rising consumer spending on fast food, intense research and development operations for the creation of unique product variants, and the product's widespread availability are expected to fuel the global market. Furthermore, market expansion in a number of emerging markets is projected to be aided in the coming years by greater urbanization and rising disposable income, says  Fortune Business Insights™ , in its report titled  “Ice Cream Market, 2024-2032."

List of Key Players Profiled in the Report

• Nestle S.A. (Switzerland)
• Unilever Group (U.K.)
• General Mills (U.S.)
• Amul (India)
• Dunkin Brands (U.S.)
• Blue Bell Creameries (U.S.)
• Dairy Queen (U.S.)
• Dairy Farmers of America, Inc. (U.S.)
• Cold Stone Creamery (U.S.)
• CAMAL Ltd Company (Azerbaijan)

Segments:

By Type, Impulse Segment to Record Fastest CAGR during 2024-2032

Based on type, the market is bifurcated into impulse and take home. The impulse segment dominated the market share in 2021, owing to rising popularity of conveniently packaged product among consumers. On the other hand, the take home segment will record notable growth through 2032.

By Flavor, Vanilla Segment to Capture Maximum Share through 2032

In terms of flavor, the market is divided into vanilla, chocolate, fruit, and others. Among these, the vanilla segment is slated to dominate the market during 2024-2032 led by increasing popularity of the product. The chocolate segment is expected to hold the second-largest market share.

By Packaging, Cup Segment to Exhibit Stellar Growth over 2024-2032

On the basis of packaging, the market is segmented into cup, stick, cone, tub, brick, and others. The cup segment is anticipated to capture the dominant market share till 2032 led by tremendous popularity of cup ice creams. Convenience associated with this type of packaging makes it extremely popular among consumers.

By Distribution Channel, Online Retailer Segment to Gain Traction through 2032

According to distribution channel, the market is segregated into ice cream parlor, supermarket/hypermarket, online retailer, and others. Among these, the online retailer segment is projected to grow substantially owing to the growing trend of home delivery. Ease of convenience of online ordering will drive the growth of this segment.

Source: https://www.fortunebusinessinsights.com/ice-cream-market-104847

Report Coverage:

The report offers:

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

Drivers & Restraints :

Increasing Product Innovation to Drive Market Growth

Traditional ice cream is nutrient-dense, yet it has no health benefits. As a result, the market players are showing growing interest in fortification and the addition of beneficial ingredients that may encourage consumers to select the product as a healthy snack option. Functional foods have advantages above and beyond basic nutrition, and they may help to reduce or eliminate the risk of certain diseases. The global consumption of fortified or functional products is predicted to rise due to increased production, thereby augmenting the ice cream market growth in the forthcoming years.

However, low shelf life and seasonality could affect the product consumption to some extent. 

Regional Insights :

Asia Pacific to Dominate Market Share led by Increasing Disposable Income

Asia Pacific dominated the ice cream market share in 2021 and is expected to grow at 5.63% CAGR over the forecast period. Fast food's growing popularity, increased disposable income, rapid urbanization, and the influence of western cuisine and culture have all boosted product consumption throughout Asia Pacific.

North America is expected to capture the second-largest share in the market. The growing number of fast-food chains in the region and the widespread use of natural ingredients in the creation of frozen dairy products are pushing the product consumption.

The European market has evolved as major corporations have adjusted their product portfolios in response to consumer interest and demand. 

Competitive Landscape:

Market Players Focus on New Product Development and Launches to Strengthen Position

Leading companies, such as Nestle S.A., Unilever Group, and General Mills, are focusing on new product launches and collaborative ventures with key stakeholders for portfolio expansion and product marketing. For example, Unilever Group announced the launch of the Double Red Velvet variation under its Magnum brand in January 2021.

Key Industry Development:

February 2024:  Unilever partnered with leading precision fermentation innovator Perfect Day to launch Breyers Lactose-Free Chocolate, which is composed of Perfect Day's dairy protein from fermentation in the U.S.

Market Overview:

The global fermenters market size stood at USD 1.64 billion in 2023. The market is set to grow from USD 1.71 billion in 2024 to USD 2.63 billion by 2032, exhibiting a CAGR of 5.51% during the forecast period.

Fortune Business Insights™ provides this information in its research report, titled “Fermenters Market, 2024-2032”.

In the food industry, fermenters are used for improving the shelf life and sensory attributes of a food item. They are anticipated to record a burgeoning demand over the coming years with an upsurge in the number of microbreweries and craft breweries.

List of Key Players Mentioned in the Report:

• Bioengineering AG (Switzerland)
• DIOSNA Dierks & Söhne GmbH (Germany)
• Pierre Guerin (France)
• SYSBIOTECH GmbH (Germany)
• CETOTEC GmbH (Germany)
• Sartorius AG (Germany)
• GEA Group (Germany)
• Solaris Biotech (U.S.)
• Biotree (India)
• Electrolab Biotech (U.K.)

Segmentation:

Semi-Automatic Segment Registers Dominating Share Owing to Advantage of More Control

By the mode of operation, the market is divided into semi-automatic and automatic. The semi-automatic segment accounts for the largest market share. The mode of operation provides more control during the production of various chemicals and beverages, which drives its adoption.

Continuous Segment to Expand at the Highest Growth Rate Due to Benefit of More Product Yield

Based on process, the market is fragmented into batch, fed-batch, and continuous. The continuous segment is slated to surge at the highest growth rate over the analysis period. The advancements in the fermentation process and benefits such as more product yield and minimal operational costs are propelling segment growth.

Stainless Steel Segment Accounts for Leading Share Due to its Reusability and Cost-efficiency

On the basis of material, the market is subdivided into glass, stainless-steel, and others. The stainless steel segment holds a major share in the global market and is set to rise at the highest CAGR over the analysis period. This is driven by the benefits of cost-efficiency and reusability offered by the material.

Food Segment to Exhibit the Highest CAGR Driven by Mounting Popularity of Plant-based Foods

On the basis of application, the market is segmented into food, healthcare & cosmetics, beverages, and others. The food segment is poised to depict the highest CAGR over the analysis period. The fermenters demand is rising impelled by the escalating popularity of plant-based food products across the globe.

By geography, the market for fermenters has been studied across Europe, North America, South America, Asia Pacific, and the Middle East & Africa.

Source: https://www.fortunebusinessinsights.com/fermenters-market-110183

Report Coverage:

The report gives an insight into the prominent strategies deployed by major industry players to gain an edge over their competitors. Other aspects include the latest trends and the pivotal factors set to propel industry expansion. An analysis of the industry on the basis of various segments has also been furnished in the report. The market has been analyzed based on the mode of operation, application, material, process, and geography.

Fermenters Market Future Outlook

• Growing Demand for Biotechnology: The rise in biotechnology applications is driving the need for advanced fermenters. These devices are essential for producing enzymes, antibiotics, and other bioproducts.

• Increased Focus on Sustainable Practices: Industries are shifting towards sustainable production methods. Fermenters offer eco-friendly solutions by utilizing renewable resources for biofuel and bioplastics production.

• Technological Advancements: Innovations in fermentation technology are enhancing efficiency and scalability. This makes it easier for companies to meet increasing production demands while reducing costs.

• Expansion in Food and Beverage Sector: The fermentation process is crucial in the food industry. With the popularity of fermented foods, the market for fermenters is expected to grow significantly.

Drivers and Restraints:

Favorable Government Policies to Propel Industry Growth

The globally mounting demand for cultivated and plant-based meat has led the governments of various countries to support industry players in a bid to secure more food safety. There has been a rise in government investments in numerous phases of dairy and meat analogs. These factors are set to propel product demand, driving fermenters market growth.

Nevertheless, the industry expansion could be restrained owing to the high costs associated with product installation.

Regional Insights:

Asia Pacific Accounts for Prominent Share Driven by Soaring Demand for Plant-based Meat and Dairy Products

In 2023, the Asia Pacific market value hit USD 0.60 billion. The regional fermenters market share bags a leading position in the global market as plant-based meat and dairy products gain traction in various countries.

The Europe market is touted to grow owing to the presence of supportive government policies. Besides, the region records a high number of breweries in Italy and France.

Competitive Landscape:

Industry Players Focus on Acquisitions and Mergers to Strengthen Market Positions

Industry participants are undertaking various strategies to increase their clientele base. Acquisitions, mergers, and partnerships are some of the steps deployed by industry players to establish a strong market footing. Solaris Biotech and Pierre Guerin are a few of the major players in the fermenters market.

Key Industry Development:

May 2023 –  Wacker Group acquired all shares of ADL Biopharma for EUR 100 million (USD 107.18 million). The move would help the company’s expansion in the field of sustainably produced dietary ingredients.

Market Overview

The global meat substitutes market size was valued at USD 6.42 billion in 2023 and is projected to grow from USD 7.06 billion in 2024 to USD 17.79 billion by 2032, exhibiting a CAGR of 12.25% during the forecast period (2024-2032).  Fortune Business Insights™  has deep-dived these inputs in its latest research report, titled, “ Meat Substitutes Market ,  2024-2032 .”

According to the study, plant-based products have become sought-after in minimizing the issues of dependence on livestock production for meat products. Clean meat substitutes will gain further traction with the rising trend of vegan and vegetarian diets. Environment-friendly food products will continue to be sought globally. The Economist asserted that the number of vegans in the U.S. rose from 0.4% to 3.5% in 2021.

Major Players Profiled in the Report:

• Beyond Meat (U.S.)
• Impossible Foods (U.S.)
• Kellogg Company (U.S.)
• Tyson Foods (U.S.)
• JBS SA (Brazil)
• Conagra Brands, Inc. (U.S.)
• Hain Celestial Group (U.S.)
• Unilever Group (U.K.)
• Nestle S.A. (Switzerland)
• Sunfed (New Zealand)

Source: https://www.fortunebusinessinsights.com/industry-reports/meat-substitutes-market-100239

Segments

Soy-based Ingredients to Remain Dominant with Growing Demand from Vegan Population

With respect to source, the market is segregated into wheat-based ingredients, soy-based ingredients, other grain-based ingredients, and textured vegetable proteins. The soy-based ingredients segment could remain dominant due to growing traction among the vegan and vegetarian population. Moreover, the soaring popularity of tofu and tempeh across North America and Europe will boost ingredient adoption.

Mass Merchandiser to Grow with Easy Product Availability

With respect to distribution channel, the market is segmented into other retail channels, mass merchandisers, online retail, specialty stores, and food service. The mass merchandisers segment will exhibit notable growth due to easy availability and prevalence of discounts.

Report Coverage

The report provides a holistic view of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Moreover, qualitative and quantitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals. The research report also delves into pre and post COVID-19 analysis to provide a comprehensive perspective of the market.

Drivers and Restraints

Advanced Form of Packaging Design to Reinforce Growth Potentials

Developed and developing countries have exhibited an increased inclination for clean products with carbon labeling. Of late, millennials and Gen Z populations have shown traction for advanced packaging with respect to environmental impact. Growing preference from health-conscious consumers could foster meat substitutes market share during the forecast period. Besides, escalating risk of cardiovascular disease, diabetes, and cancer due to consumption of red meat will further encourage the consumption of plant-based protein foods. However, difficulty in mirroring the meat color and challenges with respect to manufacturing meat flavor could dent the market growth.

Regional Insights

Europe to Gain Prominence from Soy-based Ingredients

Stakeholders anticipate Europe to witness investments abound with the rising trend for soy-based ingredients and wheat-based ingredients. With a notable shift toward a sustainable trend, plant-based products will be sought across the U.K., France, Germany, and Italy. The growing trend for gluten-free and vegan diets will bode well for regional growth.

The Asia Pacific meat substitutes market growth will be pronounced with rising emphasis on the vegan population. Moreover, consumers have spurred investments in high-quality, nutritious, and protein-rich food products. With the growing focus on sustainability, hotels and restaurants could invest in plant-based products.

North America could contribute notably toward the global market share due to the soaring popularity of vegan meat burgers and sausage. Manufacturers of meat substitutes are likely to inject funds into nutritious, tastier, and high-quality plant-based products. Clean products are expected to gain ground across online channels and will continue to be sought across retail food chains.

Competitive Landscape

Stakeholders Invest in Mergers & Acquisitions to Boost Portfolios

Major companies could invest in product launches, mergers & acquisitions, and technological advancements to bolster footprint. Besides, an influx of funds into R&D activities will encourage well-established players and new entrants to propel their portfolios.

KEY INDUSTRY DEVELOPMENTS:

• February 2024:  Beyond Meat announced plans to launch a newer version of plant-based meat alterative-based burger in retail grocery stores in the U.S.