Probiotics Market: Key Factors behind Market’s Rapid Growth

 The global Probiotics market size was valued at US$ 57.8 billion in 2022 and is projected to reach US$ 85.4 billion by 2027 at a CAGR of 8.1% from 2022 to 2027. Asia Pacific dominated the market in 2022. Probiotics are living microorganisms that have been shown to provide specific health benefits to consumers.

The global feed market is relatively untapped and small in comparison to the functional food & beverages segment

Probiotics-based feed is relatively less commercialized than functional food & beverages in the market. This is because the human end-user market is much bigger than the animal end-user market. The animal end-user market is at a very nascent stage, and the importance of probiotics-fortified feed has just started gaining momentum in the probiotics market, which already has a big dominant presence of functional food & beverages probiotics products. However, as the awareness in the animal feed segment is on the rise, the demand for the segment is gradually rising, further pushing the players to manufacture products to cater to the interests of the gradually rising market.

How much is the probiotic industry worth?

By ingredient, yeast is the fastest-growing segment in the probiotics market during the forecast period

As a probiotic, yeast has been actively used in applications such as food, beverages, pharmaceuticals, and industrial enzymes. According to a fermented food market analysis published by Spoonshot in July 2022, there has been a growing interest in fermented food and drinks with potential health benefits over the last few years. Yeast probiotics can reduce or replace the use of antibiotics as growth promoters, thereby reducing the incidence of Salmonella and antibiotic resistance in animals. Therefore, due to the multiple benefits offered by probiotic yeast, their demand is on a rise. The preference for fermented food is also in demand. All these factors together are estimated to have made yeast the fastest-growing segment in the probiotics market during the forecast period.

By end user, human segment dominates the probiotics market during the forecast period

The developing economies in the Asia Pacific, such as China, India, and South Korea, are largely shifting toward urbanization, and in the coming years, the demand for convenience food products is witnessed to grow explicitly. These factors have boosted the growth of probiotic products such as yogurt. Therefore, the rising trend of consuming functional food & beverages due to health consciousness makes the human segment dominate the probiotics market during the forecast period.

Europe is projected to reach USD 16.4 billion during the forecast period.

 

According to estimates, Europe is expected to hold a market share of 22% of the worldwide probiotics industry in 2022. The awareness and consumption of probiotics products are high in the region. The food & beverages industry is one of the largest and most important manufacturing sectors in Europe. The food market in the region is highly fragmented and consists of a large number of companies, most of which are small to medium-scale. The Europeans are health conscious and scrutinize ingredients on product labels before purchasing them. Most European countries, such as the Netherlands and Spain, have got approval from AESAN for the term probiotics on food and food supplement labels sold in the country. This has resulted in a high level of awareness, paving the way for increased demand for the consumption of probiotic products in the European region. These factors are thus expected to push the probiotics market in the region to a value of USD 16.4 billion by 2027.

 

The key players in this market include Danone(France), ADM (US), Probi (Sweden), and Nestle (Switzerland).

Agrochemicals Market : Key Factors behind Market’s Rapid Growth

 The report "Agrochemicals Market by Pesticide Type (Herbicides, Insecticides, Fungicides), Fertilizer Type (Nitrogenous, Phosphatic, and Potassic), Crop Application (Cereals & Grains, Oilseeds, Fruits & Vegetables), and Region - Global Forecast to 2025", is estimated to grow from USD 208.6 billion in 2020 and is projected to reach USD 246.1 billion by 2025, at a CAGR of 3.4% during the forecast period.

Increasing demand for food supply due to the rapid growth in the human population has triggered agricultural intensification during the last few decades. For addressing the growing food demands, agrochemicals (fertilizers and diverse pesticides) are rigorously used in agriculture, which accomplishes the gap between food production and consumption.

Nitrogen fertilizer, by fertilizer type, is estimated to account for the largest market share during the forecast period

Nitrogen fertilizers are the most widely used fertilizers in agricultural field. Amongst all nitrogen fertilizer, urea is the most used nitrogenous fertilizer in countries across the globe because of its high N content (46%N). Hence, it is one of the most widely used dry granular sources of nitrogen. It is preferred by the fertilizer manufacturing industry since it is relatively easy to manufacture. On a ton-for-ton basis, urea contains 35% more nitrogen than ammonium nitrate. This has implications on the storage and transport of nitrogen fertilizer products. Urea is considered a relatively stable product to store and transport, and it is for this reason that the transportation of urea is considered very cost-effective in comparison to its most common alternative, ammonium nitrate. Although urea often offers farmers the most nitrogen for the lowest price on the market, special steps must be taken when applying urea to the soil to prevent the loss of nitrogen through a chemical reaction.

How much is the agrochemical industry worth?

Demand for agrochemicals market will generate a revenue of USD 246.1 billion by 2025.

Asia Pacific is estimated to hold the largest market share during the forecast period

The Asia Pacific agrochemicals market is fragmented among multinational companies and numerous small-scale manufacturers who produce fertilizers and pesticides depending on the crops cultivated. There are more global players in the market that are trying to enter the Asia Pacific region by undertaking mergers & acquisitions or partnerships. The demand for fertilizers and pesticides has been growing in this region due to the increasing investment of overseas business lines in agricultural inputs to exclusively meet the demand of crop growers for attaining export quality.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the agrochemicals market. It consists of the profiles of leading companies such as Bayer (Germany), BASF (Germany), Yara International (Norway), Compass Minerals (US), and Syngenta (Switzerland), Adama Ltd (Israel), Sumitomo Chemicals (Japan), Nufarm Limited (Australia), UPL (India), K+S Group (Germany), and Israel Chemical Company (Israel).

Bayer (Germany) operates through four business segments, namely pharmaceuticals, consumer health, animal health, and crop science. The crop science division of the company has been working on introducing crop protection agrochemical products and digital solutions. The crop protection business offers a broad portfolio of highly effective herbicides, fungicides, insecticides, plant growth regulators, and seed treatment products with chemical or biological modes of action. The company provides extensive customer service to support sustainable agriculture.

 

Bayer has a vast geographic reach and has marked its presence in more than 87 countries. It has a significant market share in Asia Pacific countries, which account for approximately 20% of the total annual revenue share.

 

BASF SE (Germany) is a Germany-based chemical company. It operates through six segments, which include chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. It provides many agrochemical products such as herbicides, fungicides, insecticides, and seed treatment products that provide crops with higher resistance to diseases and pests to increase the potential yield.

 

It has a strong focus on innovation and development. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries and operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, the Americas, and Africa. BASF has customers in over 190 countries and supplies products to a wide variety of industries.

 

Dairy Ingredients Market Growth by Emerging Trends, Analysis, & Forecast

 The dairy ingredients market size was estimated to account for a value of USD 63.6 billion in 2021 and is projected to grow at a CAGR of 7.2% from 2021, to reach a value of USD 89.9 billion by 2026. The growth of this market can be attributed to the growing protein demand from consumers, they prefer products with dairy ingredients as a source of protein. The market growth in APAC can be attributed to the increasing awareness of health and wellness among the consumers. The continual investment in technological advancement is influencing growth, thereby increasing the sales of dairy ingredients in the near future.

Dairy-derived ingredients originate from real milk and have real value to consumers from a taste and nutrition perspective. Dairy ingredients derived from milk are available in various types, formats, sizes, and find wide application in food & beverage applications worldwide. Whey products are natural, functional, and high in nutrition, becoming the ingredient of choice for sports and performance product manufacturers. Citing the consumer inclination toward functional foods, whey ingredients are being incorporated in baked goods, confectionery items, beverages, dairy foods, meat products, and most importantly, nutraceuticals. Whey protein isolates and demineralized whey proteins are experiencing bolstering demand due to the high protein level and versatile functionality. Asia Pacific is the largest and fastest-growing market for dairy ingredients.

 

By application, the bakery & confectionery segment is projected to dominate the dairy ingredients market during the forecast period.

Based on applications, the bakery & confectionery segment accounted for the largest share in 2021 due to the multiple applications of dairy ingredients in the bakery industry. Non-fat dried milk and skim milk powder are popular substitutes for fresh fluid milk in the bakery and confectionery sector. Dairy ingredients are also used as claims on packaging to valorize baked goods better. Whey protein ingredients cater to delivering functionality and performance. Since fitness has become the new trend dairy formulations, mostly whey protein are gaining popularity among the younger generation.

The increasing demand for dairy ingredients in Asia Pacific is driving the growth of the dairy ingredients market.

The global dairy ingredients market is dominated by Asia Pacific, which accounted for the largest share. Nowadays, a sedentary lifestyle and a hectic daily routine run parallel to the consumer focus on health, resulting in an extreme workout and heightened dependence on protein supplements. Dairy protein ingredients are being consumed for weight loss and muscle gain and provide maximum nutrition and nourishment. Veganism has captured a large section of the market in Europe and the US; however, dairy being a staple in India, retains its position as the major protein supplement. Globally, whey is being incorporated in the regular diet as natural bioactive substances have a positive influence on an individual’s health.

Globally, the Asia Pacific market for dairy ingredients accounted for the largest share of nearly 32.84% in 2020.

The Asia Pacific region is projected to witness the highest growth during the forecast period. A large amount of milk is produced in the country, which gives the dairy ingredients market the potential to grow in the coming years. Owing to this large production, the region has immense potential for exports of dairy ingredients. Rapid urbanization, changing lifestyles, and the inclination of consumers toward nutritious food and beverages also contribute to the growth of the dairy ingredients market. Owing to the increasing consumer demands for convenience food and dairy products in the region, many major players are entering the market.

Cheese Market Global Outlook, Trends, and Forecast

 The cheese market size was valued at US$ 88.7 billion in 2021 and is projected to reach US$ 105.9 billion at a CAGR of 3.6% from 2021 to 2026. The global cheese market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries.

 

This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. The demand for convenience food and fast food is driving the growth of cheese powder, and the rising demand from developing regions is likely to continue to boost its demand in the near future.

 

How big is the cheese market?

 

Various forms of cheese products and longer shelf life to augment the demand for cheese products The market for cheese products is witnessing progressive growth due to a number of factors. The use of assorted cheese types in various food products in the form of slices, blocks, shredded, and grated forms is driving the market growth.

 

The rapid evolution of the foodservice and food manufacturing sectors is generating a positive outlook for the market in the coming years. The sales of cheese products through the retail channel have witnessed a spike, as an increasing number of households are adopting cheese-based cuisines and recipes in their diets. The availability of cheese products in a variety of formats further promotes market growth. The products are available in wedged, cut, shaved, shredded, cubed, or grated forms. Furthermore, the growing popularity of premium cheese varieties, such as artisan and aged cheeses, is also expected to accelerate the growth.

 

The cheese products segment has been further categorized into solid and semi-liquid types. Solid types of cheese include slices, blocks, shredded, and grated cheese, while semi-liquid types include cream cheese products. Europe is projected to reach USD 44.82 billion during the forecast period. In 2020, Europe accounted for a market share of 43.7% in the global cheese market. The European cheese market is led by the Germany market.

 

Germany is engaged in the production of most of the types of cheeses, including hard cheese, semi-hard cheese, semi-soft cheese, soft cheese, and fresh cheese. The high volume of cheese production and consumption can be attributed to the varied applications of cheese in ready meals, dips, dressings, and bakery products, which constitute a major chunk of German food. The key players in the European market include Glanbia (Ireland), Dalter Alimentari Spa (Italy), Savencia SA (France), and FrieslandCampina (Netherlands).

 

Food Preservatives Market Global Outlook, Trends, and Forecast

 "Food Preservatives Market by Type (Natural, Synthetic), Application (Meat & Poultry & Seafood, Bakery, Confectionery, Snacks, Dairy & Frozen Products, Beverages, Fats & Oils), Functions, and by Region - Global Trends and Forecast to 2026", published by MarketsandMarkets™, the global Food Preservatives Market is expected to grow from USD 3.3 billion in 2021 to USD 4.0 billion by 2026, at a CAGR of 4.1% from 2021 to 2026.

The food preservatives market is dominated by North America and Asia-Pacific. North America is estimated to account for the maximum market share of the global food preservatives market due to advancements seen in the food industries. Consumers in North America are more health-conscious due to awareness and health campaigns run by various organizations. Increasing demand for convenience food products, extended shelf life, and multi-functionality of natural preservatives are driving the food preservatives market. Few restraints are natural preservatives replacing chemicals and high cost of natural preservatives.

Why food preservatives has the highest demand in the market?

Food preservatives are widely being used to enhance the shelf-life of processed food products. The demand for food preservatives is high across the globe; this is due to large amounts of retail chains and changing consumer lifestyles, which have fueled the market for processed and convenience foods.

Antimicrobial food preservatives, by function, is estimated to account for the largest market share during the forecast period

The antimicrobial food preservatives account for the largest share, by function, of the food preservatives market, as these preservatives are used to prevent the growth of microorganisms. In the case of packaged foods, common spoilage and pathogenic microorganisms affect the food due to changes in pH value, oxygen content, and storage conditions (temperature, time, and humidity). This leads to the need for food preservatives. Antimicrobials can be added to food product formulations as coating agents and can also be used as packaging materials. The use of antimicrobials prevents bacterial and fungal growth on food items, leading to increased shelf life and convenient availability of the food product to consumers.

Meat, poultry and seafood products, by application, is estimated to hold the largest share in the food preservatives market during the forecast period

The meat & poultry segment accounted for the largest share in the global food preservatives market in 2020. Preservatives commonly used in meat, poultry, and egg products, in particular, are BHT and tocopherols (vitamin E). Vitamin E is abundant in whole wheat, rice germ, and vegetable oils. It is destroyed by the refining and bleaching of flour. Vitamin E prevents oils from becoming rancid. Other preservatives used in meat products are citric acid and propyl gallate. Preservatives added to cured meats, bacon, and ground beef are sodium nitrite. Sodium nitrite, when added to meat and fish, destroys toxins and reacts with proteins in the meat. Solutions used by meat processors to improve shelf-life and taste can also help reduce pathogens, including E. coli.

North America is estimated to hold the largest market share during the forecast period

The North America market accounted for the largest share in 2020. Consumers in North America are on the lookout for minimally processed convenience foods with long storage lives. This increased demand has heightened the need for the appropriate food safety measures and thus the role of preservatives to extend shelf life has become increasingly critical. The burgeoning demand for such convenience food products is expected to have a high impact on the food preservatives market in North America. With the challenge posed by the growing concern among consumers with respect to chemical methods and additives to enhance food shelf life, manufacturers are exploring the use of newer technologies and additives, which would be efficient alternates to synthetic additives. The popular perception that natural additives are a healthier option is driving the trend in the food preservatives market in North America.

Key Players:

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the food preservatives market. It consists of the profiles of leading companies such as the major food preservatives manufacturers include BASF SE (Germany), Kerry Group Plc (Ireland), Koninklijke DSM N.V. (Netherlands), Cargill, Incorporated (US), Kemin Industries, Inc. (US), IFF Nutrition & Biosciences (US), ADM (US). Tate & Lyle (UK), Lallemand Inc. (Canada), ITA 3 S.r.l (Italy), Foodchem International Corporation (China), Galactic (Belgium), Corbion (Netherlands), Celanese Corporation (US), and Jungbunzlauer Suisse AG (Switzerland). These players have focused on acquisitions to gain a larger market share in the food preservatives market.