Pet Food Ingredients Market: Key Factors and Emerging Opportunities

 The global pet food ingredients market size is estimated to be USD 38.6 billion in 2020 and is projected to reach USD 53.2 billion by 2025, at a CAGR of 6.6% during the forecast period. The market has a promising growth potential due to several factors, including the increase in adoption of pets globally and rising demand for nutrition food for pets.

The pet food ingredients market has promising growth potential due to several factors, including the improving pet health, increasing consumer awareness, and rising demand for health supplement animal products. The rapidly increasing adoption of pets in North America has increased the demand for pet food ingredients products.

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The meat & meat products segment is estimated to account for the largest share of during the forecast period, since enzymes are intensively consumed by poultry for better digestion, and have a high feed conversion rate and nutrient uptake, as compared to other livestock types. Poultry in the Asia Pacific region is witnessing the highest demand, as consumers in countries such as Thailand and Indonesia are including white meat instead of red meat in their diets. Additionally, factors such as poultry population growth, which has doubled in the last two decades, according to the Food and Agriculture Organization of the United Nations (FAO), support this high growth rate for the poultry segment.

The dominance of the animal based pet food ingredients is majorly attributed to its efficiency in providing protein to the diet. Animal-based ingredients are further segmented into meat & meat products, fats, proteins & amino acids, and others, which include flavoring agents and antioxidants. A majority of animal-based ingredients include meat & meat by-products, which provide essential protein, fatty acids, iron, and vitamins. Meat increases the palatability of the pet food, and hence, improves digestion of pets.

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The North America region is estimated to account for the largest share in global pet food ingredients market in terms of value. The market in the region is driven by the presence of a large pet population (USDA 2016) and their growth rate. The rising demand for nutritive food for pets and improved pet care among families is expected to drive the market for pet food ingredients market in the region.

Microencapsulation Market: Overview of Vital Industry Drivers

 The global microencapsulation market was valued at USD 8.5 billion in 2020 and is projected to reach USD 15.5 billion by 2025, at a CAGR of 12.9% from 2020 to 2025. The demand for microencapsulation is increasing in various industries due to its wide applications. For instance, encapsulated food ingredients and drugs are used for effective functioning; to prevent product damage until consumption; and to protect the active ingredients from moisture, heat, or other extreme conditions, thus enhancing stability.

The microencapsulation market, on the basis of application, mainly constitutes of seven segments— pharmaceutical & healthcare products, household & personal care products, food & beverages, agrochemicals, textiles, construction materials, and others. The food & beverages segment is projected to grow at a significant rate due to the growing consumption of fortified food & beverages owing to its nutritional values. Since consumers are becoming more health conscious, they are demanding fortified food & beverages, which fuels the demand for microencapsulated food ingredients.

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The microencapsulation market, by core material, is segmented into pharma & healthcare drugs, food additives, fragrances, agriculture inputs, phase change materials, and others. The food additives segment is estimated to be the fastest-growing, due to its various applications such as nutrient retention, protection of taste or color, flavor enhancement, and food preservation through oxidation stability, which is also why most food & beverage manufacturers prefer the use of microencapsulated food additives.

The North American region is projected to hold the largest market due to its increasing use of microencapsulation for the development of several products such as phase change materials, pharmaceutical & healthcare drugs, agricultural inputs, and food additives. The market in this region is driven by technological advancements in the microencapsulation industry.

COVID-19 Impact on the Global Microencapsulation Market

The microencapsulation market includes major Tier I and II suppliers like Cargill, BASF, DSM, Ingredion Incorporation. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. COVID-19 has impacted their businesses as well. Though this pandemic situation has impacted their businesses as well, there is no significant impact on the global operations and supply chain of their microencapsulation products. Multiple manufacturing facilities of players are still in operation.

Market Dynamics

Driver: Increase in demand for fortified food products with health benefits

The demand for microencapsulation is increasing with the growth in demand for functional and fortified food & pharmaceutical products. Microencapsulation provides integration of minerals, vitamins, flavors, essential oils, and other additives in food products to enhance the functional properties of products. The pharmaceutical sector is also greatly influenced by microencapsulation technologies due to the benefits achieved by the manufacturers. Along with the encapsulation of drugs, other active ingredients such as peptides, proteins, and DNA/RNA molecules are also encapsulated in the pharmaceutical sector to meet the market demand for value-added products.

Restraint: Competition for basic raw material

Although a large number of market players have adopted the microencapsulation technology in various industries, constant R&D is required to sustain in the market. The high cost of R&D resources, along with the processing technology, is hindering the market growth. The development of microencapsulated material is sometimes customized, and at times is required to be carried out at an industrial scale instead of a pilot scale. This increases the processing cost of products and ultimately leads to an increase in their cost.

Opportunities: Development of advanced technologies to tap niche markets

With the increasing demand for microencapsulated products, significant R&D activities are being carried out by various companies in the market; this has been aiding the growth of the microencapsulation market sufficiently. New technologies are required in microencapsulation to tap niche markets such as the use of PCMs in energy application and cancer & brain tumor-specific drug delivery. The market players in PCMs are working on new product developments, microencapsulation technologies, improvement in latent heat storage capacity, as well as evaluation of different phase change temperature options, to enhance the performance of their products. However, no technologies are available for the use of microencapsulated PCMs above 500°C (932°F), which is required in the energy sector. Therefore, addressing this need is expected to provide opportunities for the market.

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The key players profiled in the global market include BASF (Germany), Royal FrieslandCampina (Netherlands), Syngenta Crop Protection (Switzerland), Koninklijke DSM (Netherlands), Givaudan (Switzerland), Firmenich (Switzerland), Symrise (Germany), International Flavors & Fragrances (US), Sensient Technologies (US), Lycored Corp. (UK), Balchem Corporation (US), Encapsys (US), Arcade Beauty (US), and Koehler Innovative Solutions (Germany) Ingredion Incorporation (US), Kerry (Ireland), Cargill (US), Firmenich Incorporation (Switzerland), Dupont (US), Aveka Group (US), Advanced Bionutrition Corp (US), Tastetech Encapsulation Solutions (UK), Sphera Encapsulation (Italy), Clextral (France), Vitasquare (Netherlands), and Microtek (US). . These companies are focusing on strategies such as new product launches, expansions & investments, acquisitions, agreements, collaborations, joint ventures, and partnerships to expand their operations across the globe.

New Revenue Sources in Dairy Processing Equipment Market

 The global dairy processing equipment market size estimated at USD 9.2 billion in 2020 and is projected to grow at a CAGR of 5.4% to reach USD 12.0 billion by 2025. The market has a promising growth potential due to several factors, including the rising production and consumption of milk and other dairy products along with increased automation in dairy product manufacturing.

Dairy processing equipment consists of equipment used for optimum utilization of milk properties and nutrients. In order to prepare a diverse range of dairy products such as processed milk, fresh dairy products, butter & buttermilk, cheese, milk powder, and protein ingredients, many different processes were developed by the industry. The dairy product manufacturing involves various processes such as pasteurization, homogenization, filtration, drying, and separation. To enable these processes, dairy processors use equipment such as pasteurizer, homogenizers, separators, evaporators & dryers, membrane filtration equipment, mixers & blenders, and other equipment such as churning equipment, crystallizers, chillers, silos, cutters, and cheese vats.

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The dairy processing equipment market, by operation, is divided into automatic and semi-automatic. There is a greater preference toward automated dairy processing equipment, as it ensures food safety, consistency in product quality, economic production, reliability, and traceability in case of malfunctions/failures. With the increase in demand for various food products, there is a need to reduce the time involved in the processing of these products. Hence, manufacturers across the dairy industry prefer automated dairy processing equipment to use in the industry.

The dairy processing equipment market, on the basis of type, is segmented into pasteurizers, separators, evaporators & dryers, membrane filtration equipment, homogenizers, mixers, and blenders, and others which include churning equipment, crystallizers, chillers, silos, cutters, and cheese vats. The dairy processing market was dominated by the use of pasteurizers in 2019. Pasteurization of milk is carried out to kill the pathogens in the milk.

Asia Pacific accounted for the largest share of the dairy processing equipment market in 2019. In tropical countries with high atmospheric temperatures, processing of milk and milk products is required to enhance the product shelf life. The development of dairy processing equipment and technologies has helped to improve the shelf life of dairy products and introduce innovative products for human consumption.

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The key types of dairy processing equipment used for milk processing are pasteurizers, homogenizers, separators, evaporators & drying equipment, membrane filtration equipment, and other equipment such as churning equipment, crystallizers, and cheese vats. Dairy processing equipment is used for the processing of various dairy products including flavored milk, cheese, cream, protein concentrates, buttermilk, and yogurt.

COVID-19 Impact on Food Safety Testing Market

 The report "COVID-19 Impact on Food Safety Testing Market by Testing Technologies (DNA-based, Immunoassay-based, Chromatography- & Spectroscopy-based), Targets Tested (Pathogen, GMO, Allergen, and Mycotoxin), and Region - Global Forecast to 2021" published by MarketsandMarkets, the Impact of COVID-19 on the global food safety testing market is estimated to be valued at USD 10.5 billion in 2020 and is projected to reach USD 12.3 billion by 2021, recording a CAGR of 16.6% from 2019 to 2021 in the realistic scenario. The increasing consumer awareness towards safe food products and the outbreak of foodborne diseases are the driving factors for the impact of COVID-19 on the food safety testing industry.

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The DNA-based segment is projected to witness significant growth during the forecast period

Based on testing technologies, the food safety testing market is segmented into DNA-based, immunoassay-based, and chromatography- & spectroscopy-based. The DNA-based segment is projected to witness significant growth during the forecast period. DNA-based technology is a rapid testing technology used for the testing of GMOs in food products. It is a very advanced technology and provides accurate results in less duration of time as compared to other technologies, and therefore makes it ideal for testing of food products.

The pathogen segment to hold the majority share in the food safety testing market during the forecast period
Based on the targets tested, the food safety testing industry is segmented into pathogens, GMA, allergens, and mycotoxin. The pathogen segment is estimated to account for the larger share for the food safety testing market, as these are highly contagious agents liable for food contamination, resulting in a host of diseases. Moreover, new emerging foodborne pathogens and foodborne diseases are likely to be driven by factors such as pathogen evolution, changes in agricultural & food manufacturing practices, and changes in human host status.

Browse in-depth TOC on "Impact of COVID-19 on Food Safety Testing Market"

51 - Tables
21 - Figures
86 - Pages

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Asia Pacific is projected to witness the fastest growth during the forecast period

The Asia Pacific food safety testing market is expected to have higher growth potential as compared to other regions in the coming years, due to the outbreak of COVID-19. A large consumer market and increasing disposable income in India and China are driving the demand for high-quality, safe food products. Also, the growth of the market in this region is driven by various rules & regulations implemented in different countries, specifically post-COVID. Food security standards are increasingly becoming stringent to ensure a safer supply of food to individuals in local and foreign countries. Governments have put various regulations in place for consumers, producers, and regulators

This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies. It consists of the profiles of leading companies such as Eurofins (Luxembourg), SGS (Switzerland), Intertek (UK), Bureau Veritas (France), and TUV SUD (Germany)

Mushroom Cultivation Market: Opportunities And Challenges

 The mushroom cultivation market is estimated at USD 16.7 billion in 2020 and is projected to reach USD 20.4 billion by 2025, at a CAGR of 4.0% during the forecast period. Multiple health benefits associated with mushroom is one of the key factors expected to boost demand for mushroom cultivation in the years to come. The rise in the number of consumers adopting flexitarian and vegetarian diets both in developed and developing countries has further increased the demand for mushroom as a meat alternative.In developing countries, mushroom cultivation is gaining widespread interest among growers since it requires less labor, is low-cost, and provide income throughout the year. The availability of abundant agricultural waste in developing countries such as India and Brazil is expected to create a lucrative opportunity for mushroom cultivation in these countries since agricultural wastes act as a substrate for mushroom cultivation.

Based on the type, button mushroom accounts for the largest share in the mushroom cultivation market. Button mushroom is the most popularly grown and consumed mushroom type at a global level. Button mushroom is widely preferred among consumers in the US. In 2016, the country produced 943 million pounds of mushroom, most popular being button mushrooms. Growing health concerns have urged consumers to opt for nutrition-rich food products. Multiple health benefits associated with mushrooms coupled with increased demand for meat alternatives is expected to boost demand for mushrooms and thus increase the demand for mushroom cultivation in the coming years.

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Asia Pacific was the largest market for mushroom cultivation in 2019, followed by Europe. The region is backed by China, which is among the largest producer and consumer of mushroom at a global level, making it a key destination for mushroom cultivation companies in the region. Apart from this, countries such as India, Japan, and Iran are expected to be key revenue generators. Iran ranks 6th at a global level interns of mushroom cultivation at a global level with a production volume of 150,000 tons in 2018-2019. Lucrative opportunity lie ahead in India owing to wide availability of agriculture waste in the country. This agriculture waste serves as a substrate for mushroom cultivation. Thus, Asia Pacific is expected to create a lucrative opportunity for mushroom cultivators in the years to come.

Mushroom cultivators are focusing on expanding their consumer base in the market. Leading players operating in the mushroom cultivation market include Monaghan Mushrooms (Ireland), Walsh Mushrooms Group (Ireland), Mycelia (Belgium), South Mill Mushrooms Sales (US), Smithy Mushrooms Ltd. (UK), Rheinische Pilz Zentrale GmbH (Germany), Italspwan (Italy), Mushroom SAS (Italy) Hirano Mushroom LLC (Kosovo), Fujishukin Co. Ltd. (Japan), Societa Agricola Porretta (Italy), Gourmet Mushrooms, Inc. (US), Fresh Mushroom Europe (Belgium), Commercial Mushroom Producers (Ireland), Lambert Spawn (US), F.H.U Julita Kucewicz (Poland), Polar Shiitake Oy (Finland), Heereco BV (Netherlands), Bluff City Fungi (US), and Mycoterra Farm (US).

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Agricultural Microbials Market to Partake Significant Development During 2020 to 2025

 The report “Agricultural Microbials Market by Type (Bacteria, Fungi, Virus, Protozoa), Function (Soil Amendment and Crop Protection), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Mode of Application, Formulation, and Region – Forecast to 2025”, published by MarketsandMarkets™.The global agricultural microbials market is estimated to be valued at USD 6.0 billion in 2020. It is projected to reach a value of USD 11.6 billion by 2025, growing at a CAGR of 14.1% during the forecast period. Factors such as rise in adoption of integrated pest management (IPM) practices across the globe and reduced development cost for microbials in comparison to conventional chemical pesticides target specificity associated with microbial pesticides and the rising trend of adopting organic farming practices.

By type, the bacteria segment is projected to dominate the segment in the market during the forecast period.

The bacteria segment is estimated to account for the largest market share, with USD 8.7 billion by 2025. There are around 1,408,525 strains of bacteria successfully registered. They are the largest class of microorganism strains that have been registered and are used for various industrial purposes. Bacterial strains have been most successfully isolated and used for cultivation purposes compared to all the other microorganisms, and form 43.5% of all the microorganism strains registered globally. The application of bacteria in agriculture has increased in terms of biofertilizers and biopesticides, as these sustainably provide higher and healthy yields. Their benefits in achieving a holistic plant growth in cultivation increase their usage in the market.

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By function, the crop protection segment is projected to grow at a higher rate in the agricultural microbials market during the forecast period.

By function, the crop protection segment is projected to witness faster growth, at a CAGR of 15.98%, by 2025. The microbial pest control provides a significant amount of target specificity and ecological safety and hence can be applied uniquely or in combination with other pest management programs. Thus, the growers increasingly find the application of the products in this segment, so their market seems to grow rapidly.

The increasing demand for horticultural crops in the North American region is driving the growth of the market.

North America is projected to have the largest share of USD 4.0 billion in 2025. The region is experiencing high growth in organic farming practices, farm conversions from conventional to organic, and development of newer biological solutions through research. The increasing growth of high-value crops and rising awareness among farmers about the environmental benefits of microbial solutions are expected to provide more scope for agricultural microbials market expansion. Populations in this region also are becoming more concerned regarding food safety and quality; thus, the governments have to invest more so that they meet these needs of the population, which tends to increase the demand for microbial solutions in the region.

Key Market Players

Key players in this market include BASF SE (Germany), Bayer CropScience (Germany), Sumitomo Chemicals Company Ltd. (Japan), Monsanto Company (US), Corteva (US), Syngenta AG (Switzerland), Certis USA LLC (US), and CHR. Hansen Holdings (Denmark). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. They show a strong presence in North America, Asia Pacific, and Europe, and have manufacturing facilities, along with strong distribution networks across these regions.

Biopesticides Market - Global Outlook, Trends and Forecast to 2025

The global biopesticides market size is projected to grow at a CAGR of 14.7% from an estimated value of USD 4.3 billion in 2020 to reach USD 8.5 billion by 2025. The biopesticides industry is growing at a rapid rate, because of the factors such as awareness among consumers about organically grown crops, favorable government laws and policies for biological products, the resistance of pests for chemical pesticides, and also increasing sustainable solutions in farming. These drivers have led to intensive R&D to develop various biopesticides with different microbials or biochemicals so that the farmers can adopt an effective alternative to synthetic pesticides. The demand is witnessed in different parts of the world, particularly in Europe and North America, with the fastest-growing market being Europe.

The organic food industry is rising due to an increase in health awareness among consumers. The ban on harmful pesticides has created a huge market for biopesticides. Farmers have adopted biological solutions in integrated pest management programs, which has provided a balanced approach toward reducing pest resistance. The active ingredients used in biopesticides have been researched to deliver effective and efficient crop protection solutions. Even a combination of biopesticides and chemical pesticides has resulted in good yields reducing pest resistance and pest resurgence up to a larger extent. Various governments across the world have made the registration easier for the biopesticides market, driving it further.

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Bionematicides is projected to be the fastest-growing segment among the type used in biopesticides. Increasing pest resistance and losses due to nematodes such as cyst nematodes in high-value cash crops such as tomato, canola, corn, and soybean is encouraging the farmers to adopt bionematicides due to the increase in crop losses. Reduced crop rotation and intensive agricultural practices have also led to an increase in infestation caused by nematodes. The regulatory pressure and ban on key fumigants used to control nematodes would drive the adoption of bionematicides across the globe.

In the overall biopesticides market, Europe is projected to be the fastest-growing region during the years from 2020 and 2025. Countries such as Spain, France, and Italy have been adopting biopesticides, which help in the reduction of crop production losses. The driving factors such as growing resistance of insects toward conventional crop protection chemicals and an increase in the area under organic farming has urged the European countries to adopt sustainable solutions such as biopesticides.

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The importance of biopesticides in crops such as grapes, apples, corn, soybean, tomato, and cotton and other high-value cash crops has created the market for biopesticides to reduce the crop infestation leading to economic losses. The presence of major companies such as Bayer AG (Germany) and BASF SE (Germany) is also one of the factors for the growth of the market in this region, who have adopted strategies such as expansion, acquisition, and collaborations to enhance the biopesticide business.