Benzenoid Market to Showcase Continued Growth in the Coming Years

The report "Benzenoid Market by Type (Benzyl Acetate, Benzoate, Chloride, Salicylate, Benzaldehyde, Cinnamyl, Vanillin), Application (Soaps & Detergents, Food & Beverage, Household Products), and Region – Global forecast to 2025", size is estimated to be USD 651 million in 2020 and is projected to reach USD 857 million by 2025, at a CAGR of 5.6% during the forecast period. The market is being strongly driven by soaps & detergents industry, which is witnesses a high demand. With newer premium products coming up in the market and unique fragrance blends, their demand is projected to grow in the market in the near future.

COVID-19 Impact on the Global Benzenoid Chemicals Market

Amid the spread of COVID-19 pandemic the benzenoids market kept receiving stable demands from end use sectors such as soaps, detergents, personal care products, household products, pharmaceuticals and hygiene products. This was due to the rising concerns of hygiene amongst the populations. Most of the manufacturers were able to maintain the continuity if their operations after a lockdown of brief time period and recover their production and sales which is estimated to keep the market stable in the unprecedented economic scenarios globally. As reported by IFRA (International Fragrance Association) 10-15% of the raw materials used in fragrance come from China and around a quarter for some companies. While China recovers, India’s lockdown presents new challenges to the fragrance market, and other countries, like Brazil, maybe the next to be affected. According to the primary insight the demands from soaps and detergent industries also continued to remain stable during the period of the pandemic outbreak and are estimated to regain steady growth soon as the lockdowns ease.

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Restraint: Potential health risks of synthetic chemicals affecting production growth

The genotoxicity and carcinogenicity are the key factors that are taken into consideration to determine the safety of the chemical use. Companies that manufacture perfume or cologne purchase fragrance mixtures from fragrance houses to develop their own proprietary blends. Benzenoids as food additives and fragrance ingredients are regulated as some of them pose potential risks to human health at defined concentrations. Organization such as US FDA (US Food & Drug Administration), EU Commission, IFRA (International Fragrance Association) set standards and guideline for manufacturers in order to control the possible health risks due to overuse of aroma chemicals in food and fragrance products.

The benzyl benzoate sub-segment is estimated to account for the fastest growth in the by type segment for Benzenoid Chemicals market .

Benzyl benzoate is naturally found in cinnamon, apricots, honey cocoa, cloves, cranberries jasmine, and mushrooms. RIFM (Research Institute for Fragrance Materials) has identified the compounds as a very weak skin sensitizer and IFRA (International Fragrance Association) has set standards for acceptable concentrations of benzyl benzoate that can be used in variety of consumer goods. It serves a supporting role, helping to dissolve and blend together all the different scent substances.

By Application, the soaps & detergents sub-segment is estimated to observe the fastest growth in Benzenoid Chemicals market.

The aroma in soaps and detergent products is bought about by the use many natural and synthetic compounds. The generally used natural compounds include oregano oil, lemon oil, coconut oil, camellia oil, and coffee essential oil amongst others. During the spread of coronavirus pandemic, the significance of soaps and detergents for hygiene purposes grew tremendously giving a boost to the sales of the industry. With organizations such as American Centers for Disease Control and Prevention (CDC), promoting hand hygiene through use of soaps and clean running water the benzenoids market grew faster in the pandemic time.

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Asia Pacific is estimated to be the largest market.

The Asia Pacific region is estimated to account for the largest share of the global benzenoids market in 2020. The rising income, purchasing power, rapid growth of the middle-class population, and consumer demand for processed products present promising prospects for growth and diversification in the region’s benzenoids sector. The European aroma chemicals manufacturers are gradually losing their market share, failing to compete with products from Asia (mainly from China), where labor costs are much lower and the quality control is constantly growing, imitating western technologies. Further, countries such as China, Japan, South Korea, and Indonesia are witnessing significant growth in the cosmetics, beauty, and personal care products markets. These rae expected to drice the growth from benzenoid chemiclas in the region.

Key players in this market include include major players such as BASF (Germany), Firmenich (Switzerland), Emerald Kalama Chemical (US), International Flavors & Fragrances, Inc. (US), Eternis Fine Chemicals (India), Symrise (France), Tennants Fine Chemicals Ltd. (England), Jayshree Aromatics Pvt. Ltd. (India), and Valtris Specialty Chemicals (US. These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

Crop Protection Chemicals Market Growth by Emerging Trends, Analysis, & Forecast to 2025

The report "Crop Protection Chemicals Market by Type (Herbicides, Insecticides, Fungicides & Bactericides), Origin (Synthetic, Biopesticides), Form (Liquid, Solid), Mode of Application (Foliar, Seed Treatment, Soil Treatment), Crop Type and Region - Global Forecast to 2025" The global Crop protection chemicals size is estimated to be valued USD 63.7 billion in 2020 and is projected to reach a value of USD 74.1 billion by 2025, growing at a CAGR of 3.1% during the forecast period. The growth of this market is attributed to an increasing need for food security of the growing population.

Opportunity: Rapid growth in the biopesticides market and organic agriculture

Biopesticides are pesticides produced naturally, with minimum usage of chemicals. Since growing environmental considerations and the pollution potential and health hazards from many conventional pesticides are on an increase, the demand for biopesticides has been rising steadily in all parts of the world. Biopesticides are growing in popularity, due to their less or non-toxic nature as compared to synthetic pesticides. Moreover, biopesticides provide more targeted activity to desired pests, unlike conventional pesticides that often affect a broad spectrum of insects, birds, and mammalian species. Further, biopesticides can be very effective in small quantities, offering lower exposure and are quickly decomposable; they leave virtually no harmful residue after application.

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Challenges: Environmental impact resulting in changes in regulatory policies

One of the major challenges faced by the crop protection chemicals market is development of Genetically Modified (GM) crops, with the evolution of biotechnology and microbiology. New GM seeds can be developed through gene modification to provide them with the natural ability of being pest repellent. This, development of genetically modified crops in recent years, especially for pest resistance has been observed to have resulted in relatively lesser need for traditional crop protection chemicals.

The herbicides segment of the Crop protection chemicals is projected to account for the largest share, by type

Herbicides are substances that kill or inhibit growth of unwanted plants (weeds). They are widely used in weed control, which helps in enhancing crop productivity and quality of output. Herbicides help in reducing soil erosion and increase soil fertility and crop yield. They are used to control or kill unwanted plants and are often known as weed killers. Use of herbicides in agroecosystems may change composition of weed populations. In wildlands, herbicides may increase the diversity of native species. Threats to plant biodiversity caused by habitat loss and invasive species are far greater than threats by use of herbicides. Some non-selective pesticides are used in weed waste grounds, industrial sites, railways, and railway embankments. Herbicides are heavily consumed in the agricultural sector and in landscape turf management.

The market for the liquid segment is projected to account for the largest share during the forecast period, by form

By form, liquid is the segment which accounted for the highest market share as well as the highest growth rate in the Crop protection chemicals. The growing requirement of liquid forms of crop protection chemical products, mainly in the foliar spray and seed treatment modes of application, is driving the market for liquid forms of crop protection chemicals. They are also cheaper than solid formulations and are easily mixed with any other crop enhancer or protecting product, increasing the demand for the same.

Liquid pesticides include suspensions (flowable solutions), solutions, emulsifiable concentrates, microencapsulated suspensions, and aerosols. Liquid forms of crop protection chemical products are preferred more by suppliers as well as end-users. Liquid forms offer a longer shelf-life with easy handling, transportation, and application. Also, they are cost-effective, eco-friendly, and sustainable. Companies are investing in the technological development of crop protection chemicals in liquid forms. The liquid forms of crop protection chemicals can either be water-based, oil-based, polymer-based, or their combinations.

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

South America is an emerging agricultural powerhouse, growing at a rapid pace above the global growth average. Growth in this region is significantly contributed by the growth in Brazil and Argentina, which are the world’s most potent agricultural producers and are expected to grow well above the regional average. The economic growth in South America has been stimulated by democratization, economic reforms, and the foundation of the two trading blocs namely, Mercosur and the Andean Pact.

Regulatory framework in South America is quite weak as compared to North America and Europe. The South American Pesticide Action Network controls the regulatory issues in the region. The international trade system from the WTO for regional and bilateral trade deals also undermines national pesticide laws and threatens the ability of South American nations to prohibit dangerous chemicals from being used. This is especially observed in the case of WTOs demand for establishing certain common minimum standards for pesticides among countries. For instance, if a country wants to implement a stricter standard on pesticides as compared to the WTO, it could be recognized as a technical barrier to trade.

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 Crop protection chemicals. It consists of the profiles of leading companies such BASF SE (Germany), The Dow Chemicals Company (US), Dupont (US), Sumitomo Chemical Co., Ltd (Japan), Syngenta AG (Switzerland), Bayer Cropscience AG (Germany), FMC Coropration (US), NufarmLimited (Australia), Adama Agricultural Solutions (Israel), Verdesian LIfescineces (US), Bioworks Inc. (US), Valent US (US), Arysta Lifescince Corporation (US), American Vanguard Corporation (US), Chr. Hansen (Denmark), Corteva Agrisciences (US), UPL Limited (India), Jiangsu Yangnong Chemical Group Co Ltd (China), Agrolac (Spain), Lianyungang Liben Crop Science Co. Ltd. (HongKong), Nanjing red sun co. ltd (China), Kumiai Chemicals (Japan), Wynca Chemicals (China), Lier Chemicals (China), Simpcam Oxon (Italy).

Nematicides Market to Showcase Continued Growth in the Coming Years

The global nematicides market size is estimated to account for a value of USD 1.3 billion in 2020 and is projected to grow at a CAGR of 3.4% from 2020, to reach a value of USD 1.6 billion by 2025. The growing demand for high-value crops alongside the increasing infestation of nematodes on crops are some of the factors driving the growth in the market.

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COVID-19 impact on Nematicides market

The nematicides market includes major Tier I and II suppliers like Syngenta AG, Bayer AG, BASF SE, UPL Ltd,FMC Corporation, Marrone Bio Innovations and Isagro S.p.A. 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 upto some extent. Though this pandemic situation has impacted their businesses, there is no significant impact on the global operations and supply chain of their nematicides. Multiple manufacturing facilities of players are still in operation.

Constraint: Pesticide residue problems

One key restraint in the crop protection chemicals market is the pesticide residue problem due to the non-judicious use of pesticides by the farmers. Pesticide residue problems are highly found in the crops grown in developing or under-developed countries. Countries such as Vietnam, Ghana, and the Philippines are known for such low-quality crop production, affected by pesticide residues. Though intensive farming is inevitable without the use of pesticides, farmers in developing countries tend to use excess pesticides, which then damage the crops. Thus, improper use and illegal import-export of pesticides, and lack of proper government regulations have resulted in pesticide residue issues and excessive application of toxic pesticides, thereby hindering the growth of the crop protection chemicals market.

Opportunity: Providing customized solutions targeted toward specific pests

With the growing environmental and pollution concerns and health hazards from many conventional agrochemicals, the demand for natural biologicals is rising steadily across regions. Customers are witnessing a high demand for new biological products such as bionematicides to use against nematodes on standing crops, which cause crop damages, thereby reducing the overall farm yield and quality. The use of biologicals and related alternative management products is increasing. R&D teams of major global players are also engaged in discovering target-specific innovative products by using biological insecticides, which promote organic agriculture.

By crop type, vegetables are projected to dominate the nematicides market.

The vegetables segment is projected to hold the largest market share owing to the increasing cases of infestation on vegetables such as potatoes, tomatoes, peas, cauliflower, and carrots, by nematode species such as root-knot, lesion, and cyst nematodes. The increasing acreage being brought under vegetable cultivation and the growing demand for organic vegetables drive the growth of this segment.

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North America to be the largest market for nematicides during the forecast period.

The region is a host to some of the major players in the nematicides market such as BASF SE (Germany), Bayer AG (Germany), Syngenta (Switzerland), and Nufarm Ltd (Australia) who actively invest on new product launches that would cater to nematode attacks on field crops such as soybean, corn, and cotton which are majorly produced in countries such as the US and Mexico. The acreage which is being brought under field crops is growing due to increased international and domestic demand for these field crops. The adoption of genetically modified seeds has also increased the cases of nematode infestation on crops such as soybean and corn, thereby driving growth in the market.

Key Market Players:

Some of the major players operating in the market include Bayer AG (Germany), Syngenta Crop Protection AG (Switzerland), Corteva Agriscience (US), BASF SE (Germany), Adama Agricultural Solutions Ltd (Israel), FMC Corporation (US), Nufarm (Australia), UPL Limited (India), Isagro Group (Italy), Valent USA (US), Chr. Hansen (Denmark), Certis USA LLC (US), Marrone Bio Innovations (US), American Vanguard Corporation (US), Crop IQ Technology (UK), Real IPM Kenya (Kenya), Horizon Group (India), Agri Life (India), Crop IQ Technology Ltd (UK), and T. Stanes & Company Limited (India).

Latest Regulatory Trends Impacting the Aquafeed Market

The aquafeed market is estimated to account for USD 50.6 billion in 2020 and is projected to reach USD 71.6 billion by 2025, recording a CAGR of 7.2% during the forecast period. The market is primarily driven by the increasing seafood trade, growth in aquaculture production, and rising seafood consumption among consumers due to the increasing need for protein-rich diets.

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The amino acids segment, by additive, is projected to dominate the aquafeed market during the forecast period.

Amino acids are important in animal nutrition and are the building blocks of protein, which play an essential role in the growth, production, and overall maintenance of aquatic animal health. Amino acids provide the energy required for the growth of muscles and bones for muscle movement, digestion, and blood circulation. Owing to these factors, the amino acids segment dominates the aquafeed market, by additive.

On the basis of species, the fish segment is projected to witness higher growth in the aquafeed market.

The market, by species, is segmented into fish, crustaceans, mollusks, and others (turtles and sea urchins). Fish farming in ponds, lakes, rivers, and coastal waters is increasing to fill the gap between demand and supply. The increase in fish farming activities and aquaculture has led to the increased demand for fish feed. Among fish, carp and tilapia are high consumers of aquafeed. Also, carps are being extensively reared, owing to their adaptability to changing climates, while Tilapia culturing has increased in recent years due to the growing supply of high-quality protein tilapia species at lower prices.

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Asia Pacific is projected to witness the highest growth in the aquafeed market during the forecast period.

The global market was dominated by Asia Pacific in 2020, in terms of value and volume; this market is majorly driven by China, which is a major producer of aquafeed. China is the leading producer, consumer, and processor of aquaculture products, contributing to about one-third to the global supply. Moreover, the processed seafood market in the region is also currently undergoing a significant transformation in response to the rapid urbanization and diet diversification.

Key Market Players:

Many domestic and global players provide aquafeed products to improve fish health. Major manufacturers have their presence in the North American and European countries. The report scope has been restricted to the market for commercial aquafeed products marketed across the globe. The key companies in the market are Cargill (US), Archer Daniels Midland Company (US), Alltech (US), Purina Animal Nutrition (US), Nutreco N.V. (Netherlands), and Ridley Corporation Ltd. (Australia). Various strategies, such as expansions & investments, partnerships, collaborations, and agreements, were adopted by the key companies to remain competitive in the aquafeed market.

Pesticide Inert Ingredients Market to See Major Growth by 2023

The report "Pesticide Inert Ingredients Market by Type (Emulsifiers, Solvents, and Carriers), Source (Synthetic and Bio-based), Form (Dry and Liquid), Pesticide Type (Herbicides, Insecticides, Fungicides, and Rodenticides), and Region - Global Forecast to 2023", The pesticide inert ingredients market is projected to reach USD 4.7 billion by 2023, from USD 3.5 billion in 2018, at a CAGR of 6.14% during the forecast period. The market is driven by factors such as the increasing demand for specific inert ingredients in pesticide formulation and capability of inert ingredients to improve the efficacy of pesticide application.

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Pesticide inert ingredients for the herbicide segment are estimated to have the highest share during the forecast period.

Pesticide inert ingredients are used in herbicide spray solutions to accentuate the emulsifying or other surface modifying properties of liquids. Inert ingredients are mostly present in herbicide treatment solutions with the aim to improve the penetration of active ingredients into plant foliage or to reduce foaming activity of the spray solution. Also, with reference to the herbicides available in the market, the amount of inert ingredients used in herbicide solutions is higher compared to insecticides and fungicides.

High adoption of inert ingredients in the North American region also drives the overall pesticide inert ingredients market. The major use of the formulation of herbicides is in the form of emulsifiers and solvents.

The dry segment in terms of forms of pesticide inert ingredients is projected to witness the fastest growth during the forecast period.

Dry inert ingredients are available in various forms such as wettable powders, dust, granules, and talc. The dry form of inert ingredients is majorly used in the formulation of herbicides and rodenticides. Dry forms of pesticides help in attracting rodents in the fields and thus are preferred in agricultural fields for repelling and skilling rodents. The high share of herbicides in the pesticide industry also drives the market for dry inert ingredients.

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Asia Pacific is projected to witness the highest growth in the pesticide inert ingredients market during the forecast period.

The Asia Pacific region is one of the leading consumers of pesticides across regions, even though the region mainly depends on imports for pesticide supply. Inert ingredients are increasingly consumed by pesticide manufacturers at the production facility during the formulation stage, and countries such as India, Thailand, and Vietnam depend on imports for pesticides. Hence, the market for pesticide inert ingredients remains smaller when compared to the Americas and Europe. However, the pesticide inert ingredients market is well-established in developed countries with the increasing establishment of production plants in the Asian countries. Due to these factors, the use of inert ingredients along with pesticide application is projected to increase in the future.

Key Market Players:

Major market players in the pesticide inert ingredients market are BASF (Germany), Clariant (Switzerland), DowDuPont (US), Stepan Company (US), and Croda International (UK). BASF SE (Germany), one of the world’s largest chemical companies, operates through seven major segments. With a broad product range, diverse customer base, and operations in more than 80 countries through its joint ventures and subsidiaries, the company has marked its presence on the growth trajectory. DowDuPont is another leading player wherein, Dow Crop Defense focuses on providing inert and additive ingredients, which enhances the effectiveness of pesticides and adjuvant formulations. This, in turn, helps farmers to produce and offer healthier crops. There are some other players in the industry, which are focusing on serving the market with various inert ingredient products and capturing a larger market share such as Eastman Chemicals (US), Solvay (Belgium), Evonik (Germany), Huntsman Corporation (US), Akzonobel (The Netherlands), Royal Dutch Shell (The Netherlands), and LyondellBasell Industries (Netherlands).

Key Trends Shaping the Probiotic Ingredients Market

The report "Probiotic Ingredients Market by Application (Functional Foods & Beverages, Pharmaceuticals, and Animal Nutrition), Source (Bacteria and Yeast), Form (Dry and Liquid), End User (Human and Animal), and Region - Global Forecast to 2023", is estimated at USD 268 million in 2018 and is projected to reach USD 402 million by 2023, growing at a CAGR of 8.5% during the forecast period. The market is driven by factors such as increasing popularity of probiotic dietary supplements and participation of government bodies in the R&D of probiotics.

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By application, the market has been segmented into functional food & beverages, pharmaceuticals, animal nutrition, and others which include cosmetics & personal care products. The pharmaceuticals segment is growing at the highest rate owing to a spike in the number of diseases such as antibiotic-associated diarrhea, inflammatory bowel disease, lactose intolerance, irritable bowel syndrome, vaginal infections, rheumatoid arthritis, liver cirrhosis, and immune enhancement. The intake of dietary supplements for overall improvement in health among consumers would drive the growth of the segment during the forecast period.

By form, the market has been segmented into dry and liquid. The dry form is projected to dominate the market during the forecast period owing to lower costs in transportation when compared with liquid form. The dry form of probiotic ingredients has a higher shelf-life, due to which it is preferred by manufacturers and suppliers.

By end use, the probiotic ingredients market has been segmented into animal and human use. While human use accounts for a larger market share during the forecast period, the usage of probiotic strains in the animal nutrition industry is growing. Probiotic strains are used in feed to enhance the effectiveness of nutrients and show their effects on the gut by aiding in better digestion and reducing the impact of pathogenic bacteria, which causes various diseases in animals. The animals can grow better as the feed is altered in terms of quality and palatability due to its added probiotic content. The aim of probiotic strains is to take care of deficiencies of the natural microflora and provide animals with better resistance against diseases.

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Probiotics are gaining popularity in the Asia Pacific market particularly in the animal nutrition segment due to the growing concerns about their health and productivity. The application of probiotic strains is projected to increase due to the consumer demand for application in functional foods and pharmaceutical end products. India offers a huge potential in this region due to the increasing number of pharmaceutical companies involving themselves in the licensing and development of probiotic drugs. China’s growth in terms of sales is attributed to the growing application of probiotics in the infant formula business.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies. It includes the profiles of leading companies such as Kerry (Ireland), DowDuPont (US), Chr. Hansen (Denmark), Biogaia (Sweden), Probi (Sweden), Glac Biotech (Taiwan), Bifodan (Denmark), Lallemand (Canada), UAS Laboratories (US), and Biena (US).

Pest Control Market Growth Opportunities by 2026

The overall pest control market is projected to grow from USD 22.7 billion in 2021 to USD 29.1 billion by 2026, at a CAGR of 5.1%. The rise in the popularity of pest control solutions can be attributed to the increasing scope of urbanization in developing markets and the emergence of megacities, which host over 15-20 million residents. Markets such as China and India are among the key markets targeted by pest control service providers and pesticide suppliers due to their high population density and a large middle-class population that is adopting pest control services in the region.

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Drivers: Rising adoption of digital applications and technology

One of the most important aspects of food safety in the global food supply chains is pest control. The changes in the way food are produced, sourced, and distributed, along with climate changes, have led to an increase in risks of food safety from pests. In addition, more stringent regulations for food safety and changes in consumer demands are the key factors that are projected to encourage food producers/manufacturers to find more efficient and sustainable ways to ensure food quality and safety. Changes in consumer habits, such as online shopping, have led to an increase in the use of automation in the supply chain, which allows pests to thrive where there are few or no humans around to notice pest infestations or deter pests, such as rats and mice. Thus, pest control manufacturers are adopting greener and smarter pest control solutions.

Nowadays, IoT has been a trending technology that helps in the remote monitoring and control of pests. IoT technology allows businesses in the food sector to address these food safety challenges. IoT devices can monitor and report pest activity in real-time and collect data that provides new insights into pest behavior that can help improve pest control and food safety.

Opportunities: Adoption of Artificial Intelligence (AI) in pest control

The adoption of various trending technologies, such as AI, has been on the rise due to the low service cost and its operation in remote and difficult-to-access locations continuously without interrupting the operation of the facility. Hence, the demand for digital pest control solutions is projected to grow considerably in the coming years. Pest control service companies, such as Rentokil, are using AI-based image-recognition technology to identify and treat various types of bugs and vermin. Some of the company's pest control technicians are using an Android mobile app developed by Accenture to identify bugs. When its technician witnesses an increase in a type of bug or rodent, he/she can take a picture of the pest and use the app, PestID. The picture is then sent to Google’s image classification and machine learning software to run through several pest images and identify the intruder. When a positive identification is made, the app immediately provides remediation solutions to help the technicians decide the treatment plans, including proper chemicals and recommendations for homeowners. Since AI has helped in reducing the frequency of technician visits, thus resulting in low service cost and ultimately higher adoption in the future.

By control method, software & services segment is the fastest growing segment in the pest control market during the forecast period

The software & services segment plays an integral part in digital pest control solutions while implementing platforms and executing activities related to them. These services include consulting, integration, and support and maintenance, which are required to deploy, execute, and maintain pest control. AI and IoT are trending technologies that help improve smart pest monitoring and control. One of the key software & service providers is Rentokil, which offers PestConnect that includes a range of IoT-enabled pest-control devices that allows the monitoring of food processing facilities with maximum efficiency and minimum effort. According to one of the primaries conducted in Bayer CropScience, India, “The use of advanced information technologies and connected traps are among the new solutions offered by companies such as the Bayer Rodent Monitoring System.

Increasing rates of urbanization and growing middle-class population drive pest control demand in residential applications.

The pest control market is segmented on the basis of application into commercial, residential, livestock, industrial, and others. The residential segment is witnessing a surge in demand for pest control services for the containment of cockroaches, bed bugs, mosquitoes, and termites. Dust control is recommended for residential areas and home applications. Baits are also used for indoor and outdoor applications in residential areas. Also, insecticide aerosols are recommended for small buildings or nearby areas. The common forms of pests found in the residential areas include rodents, cockroaches, termites, bed bugs, ticks, lice, and wildlife pests such as raccoons, opossums, moles, and gophers. The available solutions for residential areas include chemical spraying, baits, and aerosols. In cases of high levels of infestation, fumigation is used to exterminate the pests.

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Asia Pacific region is projected to witness the highest growth in the pest control market by 2026.

The Asia Pacific region is among the fastest-growing regions for pest control. The region’s high concentration of urban population and urbanization poses a strong potential for pest control service providers. The effects of climate change and in certain cases, the negligence toward sanitary conditions in urban slums has resulted in multiple disease outbreaks. Improvements in legislation and policies surrounding the requirement of pest control have benefitted pest control service providers in the Asia Pacific region. Additionally, the region has also been susceptible to many pest-borne disease outbreaks in the last two decades. From the last quarter of 2015, there has been a significant number of cases related to Zika virus in the region. Zika virus is a mosquito transmitted Flavivirus and has been detected in several countries in the Asia Pacific region, which include Thailand, the Philippines, Malaysia, Vietnam, and Indonesia. According to a WHO report (October 2016), the Asia Pacific region is highly likely to continue to report new cases and possibly new outbreaks of Zika virus. Thus, with increasing outbreaks of diseases due to insects, the demand for pest control services is projected to increase in the region.

The key service providers in this market include Terminix (US), Ecolab (US), Rollins Inc. (US), Rentokil Initial Plc (UK), and Anticimex (Sweden). The pesticide suppliers in the pest control market include Bayer AG (Germany), BASF (Germany), Syngenta AG (Switzerland), Sumitomo Chemicals Co. Ltd. (Japan), ADAMA (Israel), FMC Corporation (US), Corteva Agriscience (US), PelGar International (UK), and Bell Laboratories (US).

Sustainable Growth Opportunities in the Wheat Protein Market

The global wheat protein market is estimated to be valued at USD 2.4 billion in 2021 and is projected to reach USD 3.1 billion by 2026, recording a CAGR of 5.0%. The market has been largely driven by the growing demand for bakery products, the increasing popularity of plant-based foods, wheat protein being a suitable alternative for non-animal protein among vegans coupled with nutritional benefits for lactose-intolerant consumers.

COVID-19 impact on Wheat Protein market

The COVID-19 pandemic has had a profound impact on the wheat protein market. Given the growing consumer awareness of the impact of the pandemic on meat production, consumers began adopting plant-based alternatives instead. This resulted in a sales surge of over 500% for meat alternative brands. The pandemic has also influenced the sales of plant-based snacks, dairy alternatives, and supplements, as consumers move towards a healthier lifestyle.

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Restraints: Increasing discussion on gluten intolerance and gluten-free diets

Gluten intolerance or the Celiac disease is an autoimmune disorder, which damages the small intestine lining and prevents the absorption of nutrients from consumed food items. This damage is majorly a reaction to eating foods with gluten, a type of wheat protein which is also found in barley, rye, and oats. However, some individuals may also experience discomfort in their stomach despite not having the Celiac disease. Amylase-trypsin-inhibitors or ATIs, are a group of proteins found in wheat, which could trigger an immune response, and contribute to the development of non-celiac gluten sensitivity (NCGS).

By product, wheat gluten segment is projected to dominate the market during the forecast period.

The wheat protein market has been segmented into wheat gluten, wheat protein isolate, textured wheat protein, and hydrolyzed wheat protein. Wheat gluten dominated the global market, in terms of both, value and volume. The wide range of functionalities of wheat gluten such as viscoelasticity, texturing, foaming, emulsification, and binding leads to its wide-scale usage in bakery products. Its role as an excellent meat alternative for consumers preferring vegetarian food products is expected to drive its demand during the forecast period.

By application, pet food segment is projected to be the fastest-growing segment in the market during the forecast period.

The growing expenditure on pet food products along with pet humanization in economies such as India and the US is expected to drive the market growth in the pet food segment. Changing consumer preferences driven by awareness toward meat sourcing practices, its ecological impact, and animal-borne diseases have led to more consumers opting out of meat consumption. The resulting change has led to consumer demand shifting from conventional animal-based proteins to plant-based alternatives.

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Europe is estimated to account for the largest share of the wheat protein market during the forecast period

In 2020, Europe is estimated to account for the largest share of the wheat protein market. Factors such as the growing investments by major players in the bakery industry, growing trend of vegan diets, and abundant availability raw materials such as wheat in this region have boosted the demand for wheat protein products in the European market. Furthermore, increased demand for bakery items such as cakes, pastries, and cookies will also drive the demand for wheat protein in the region.

This report includes a study of the marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as ADM (US), Cargill (US), Agrana (Austria), MGP Ingredients (US), Manildra Group (Australia), Roquette (France), Glico Nutrition (Japan), Crespel & Deiters (Germany), Kröner-Stärke (Germany), Tereos Syrol (France), CropEnergies (Germany), and Gluten y Almidones Industriales (Mexico), Batory Foods (US), Kerry Group (Ireland), BENEO (Germany), Agridient Inc (US), AMCO Proteins (US), Tate & Lyle (UK), and PureField Ingredients (US).

Benzenoid Market to See Major Growth by 2025

The report "Benzenoid Market by Type (Benzyl Acetate, Benzoate, Chloride, Salicylate, Benzaldehyde, Cinnamyl, Vanillin), Application (Soaps & Detergents, Food & Beverage, Household Products), and Region – Global forecast to 2025", size is estimated to be USD 651 million in 2020 and is projected to reach USD 857 million by 2025, at a CAGR of 5.6% during the forecast period. The market is being strongly driven by the soaps & detergents industry, which is witnesses a high demand. With newer premium products coming up in the market and unique fragrance blends, their demand is projected to grow in the market in the near future.

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The spread of COVID-19 pandemic affected the overall chemicals market in the global regions. The value of trade in organic chemicals reached USD 846 billion in 2019, which decreased by nearly 10% from 2018 in terms of value. The economy of China was also affected by events such as the Chinese economic slowdown & US-China trade wars. As reported by the Financial Express in May 2020, the country recorded low oil prices in 2020 and has impacted the chemicals and petrochemicals industries. The low demand for fuels due to the lockdown has led to the low production of many chemicals. The major benefitting end use sector for benzenoids chemicals, such as cosmetics, fine fragrances, and perfumes, were majorly impacted. There are over 1,000 small, medium, and large-size enterprises operating in this industry, both in the organized and unorganized sector, and almost all the food, pharma, FMCG industries are dependent on fragrances and flavors. However, with reopening markets and economies show that the business are recovering soon and the market is estimated to regain their business after a lockdown end.

The soaps and detergents sub-segment, in by application segment, is projected to dominate the market during the forecast period.

The demand for soaps and detergents have been observing a stable demand from the global market in the pre-Covid period and their demands, further spikes since thre spread of Covid-19 with the increasing focus of the population on cleanliness and hygiene. For these, there were rising demand for production of quality and premium fragrance products. These are estimated to drive the market growth.

The benzyl benzoate sub-segment, in the by type, is projected to witness the highest growth in the benzenoids market

Benzyl benzoate is estimated to observe the fastest market growth during the forecast period in the benzenoids market as the compound is a thick liquid that has a weak, sweet-balsamic odor and it occurs naturally in some flower blossoms, fragrances and benzyl benzoate can also be formulated in a lab with added scents to slow their evaporation. It serves a supporting role that helps in dissolving and blending together all the different scent substances. Thus their usage is expected to grow.

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Asia Pacific is estimated to be the largest market.

The Asia Pacific region is estimated to account for the largest share of the global benzenoids market in 2020. The rising income, purchasing power, rapid growth of the middle-class population, and consumer demand for processed products present promising prospects for growth and diversification in the region’s benzenoids sector. The European aroma chemicals manufacturers are gradually losing their market share, failing to compete with products from Asia (mainly from China), where labor costs are much lower and the quality control is constantly growing, imitating western technologies. Further, countries such as China, Japan, South Korea, and Indonesia are witnessing significant growth in the cosmetics, beauty, and personal care products markets. These rae expected to drice the growth from benzenoid chemiclas in the region.

Key players in this market include include major players such as BASF (Germany), Firmenich (Switzerland), Emerald Kalama Chemical (US), International Flavors & Fragrances, Inc. (US), Eternis Fine Chemicals (India), Symrise (France), Tennants Fine Chemicals Ltd. (England), Jayshree Aromatics Pvt. Ltd. (India), and Valtris Specialty Chemicals (US. These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

Biostimulants Market Growth by Emerging Trends, Analysis, & Forecast to 2026

The report "Biostimulants Market by Active Ingredients (Humic Substances, Seaweed Extracts, Microbial Amendments, Amino Acids), Mode of Application (Folier, Soil Treatment, Seed Treatment), Form (Liquid, and Dry), Crop Type, & by Region - Global Forecast to 2026", is estimated at USD 3.2 billion in 2021; it is projected to grow at a CAGR of 12.1% to reach USD 5.6 billion by 2026. Biostimulants aid the efficiency of the plant’s metabolism, increase a plant’s natural tolerance to stressors like pests and disease, and propel faster recovery from stressful events, such as bad weather. Presently agriculture practices have advanced in the last decade to become not only more sustainable, but climate-wise too. To further drive the trends in sustainable agriculture software-as-a-service solutions for orchard management, yield monitoring, and estimation and the growth of farm management integrated platforms are being rapidly developed. With rapid growth of the integrated management practices the use of biostimulants for farming is estimated to grow.

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The amino acids sub-segment is estimated to account for the largest market share in the by active ingredient segment for the biostimulants market.

For the production of biostimulants, amino acids can be obtained through chemical synthesis of plant proteins and by enzymatic hydrolysis of animal proteins. Amino acids are the monomers of protein chain being involved in many plant physiological processes, such as metabolic and nutrient transport functions. Plants have the ability to produce amino acids, but the process of synthesis is tedious and slow, which can be overcome by external application of amino acids. Thus their larger use is estimated to account for their higher market shares.

By mode of application, the seed treatment sub-segment is estimated to account for the fastest growth in the biostimulants market.

Application of biostimulants as seed treatment aids to reduce environmental stress at the time of sowing, and improving yield, all starting from seed germination. These benefits of seed treatment are driving their growth in the biostimulants market.

The liquid sub-segment by form is estimated to account for the largest market share of the biostimulants market over the forecast period.

Liquid biostimulants are manufactured on large industrial scale levels and also can be developed according to the increasing demands without further addition to manufacturing costs. Ease of application, and transports are some of the driving factors for their growth in biostimulants market. Major companies that manufacture liquid-based biostimulants include UPL (India), Koppert (Netherlands), BASF SE (Germany).

The cereals & grains sub-segment is estimated to observe the fastest market growth in the biostimulants market during the forecast period.

The global production of cereals and grains is ever-increasing and simultaneously with the increase in population and per capita income of the countries such as India, China, Japan the Asian region the populations there are increasingly becoming aware of agricultural sustainability and consumption of nutritious and organically produced food, thus their market is projected to grow speedily.

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Europe is estimated to be the largest market.

EU has boosted many biostimulant companies in Europe who have been expanding their global network to reach the untapped market. The region has also launched the “European Green Deal“ initiative under which aims to expand the use of sustainable practices such as precision agriculture, organic farming, agroecology, agro-forestry, and stricter animal welfare standards. Further, the new Farm to Fork Strategy aims at reducing the environmental and climate footprint of the EU food system, strengthening its resilience, ensuring food security, facilitating the transition towards competitive sustainability from farm to fork, and making use of new business opportunities.

Key Market Players:

Key players in this market include BASF SE (Germany), UPL (India), Valagro S.p.A (Italy), Gowan Group (US), FMC Corporation (US), ILSA S.p.A (Italy), Rallis India Limited (India), and Haifa Group (Israel). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

Flavor Systems Market: Growth Opportunities and Recent Developments

The report "Flavor Systems Market by Type (Brown, Dairy, Herbs & Botanicals, Fruits & Vegetables), Application (Beverages, Savories & Snacks, Bakery & Confectionery Products, Dairy & Frozen Desserts), Source, Form, and Region - Global Forecast to 2023", is estimated to be valued at USD 5.64 billion in 2018 and is projected to reach a value of USD 6.96 billion by 2023, growing at a CAGR of 4.3% during the forecast period. Factors such as the Creation of novel flavors driven by favorable consumer reception and cross product usage of flavors are driving the growth of this market.

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The brown segment by type, is estimated to account for a larger market share, in 2018

The brown segment dominated the market for flavor systems. This is attributed to the fact that brown flavors are the most commonly used flavor variant and used across a number of applications. There has been an increase in the number of areas such as beverages, and dairy, in which brown finds applications. Due to these factors, the market is projected to witness significant growth.

The nature-identical segment by source is estimated to be the fastest growing segment in the flavor systems market, during the forecast period

They are chemically identical to substances that are naturally present in materials of plant and animal origins. Although nature-identical substances are formulated in a laboratory, the human body cannot distinguish between natural and nature-identical substances. Therefore, nature-identical flavoring substances, having molecular structures that mimic the chemical structures of natural ingredients, enjoy a higher preference among consumers, especially because these substances have no artificial flavoring. Thus, this segment is projected to witness fastest growth in coming years.

The beverages segment, by application, is estimated to account for the largest market share, by value, in 2018

The market for beverages held the largest share in 2017 in the flavor systems market and is also projected to be the fastest-growing segment during the forecast period. The use of various types of flavors in this application is largely attributed to the introduction and combination of different flavors to create an elegant and aromatic taste.

The liquid segment, by form, is estimated to account for the largest market share, in 2018 and is projected to be the fastest growing segment during the forecast period

Liquid form of flavoring systems is made available in oil as well as water-based textures. A common form of using liquid flavor systems is via flavor microemulsions. Flavor microemulsions which find its usage in clear beverages and other consumer products, are defined as a clear, thermodynamically stable dispersion of two immiscible liquids—oil-in-water or water-in-oil. Flavor enhancers can easily be mixed in various application and therefor has higher demand.

Mass customization of flavor systems has created opportunities for manufacturers

Mass customization majorly refers to the entire process of providing a wide variety of goods or services that are then modified and customized to suit major consumer group requirements. Mass customization is mostly used as a marketing and manufacturing technique wherein the products offered ensure a certain level of flexibility and personalization. This technique also ensures manufacturers with low unit costs, thereby improving operational efficiencies. The technique of mass customization has gained a high degree of traction in recent times due to consumers being increasingly inclined toward highly customized options. While consumers earlier focused on efficient and reasonable products, they are willing a slightly premium price for customized or quality products today. Owing to such factors, opportunities pertaining to customized solutions have started to gain pace and significance in the market.

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Europe is projected to grow at the highest CAGR of 5.0% during the forecast period

In Europe, growing consumption of bakery & confectionery products and savories & snack products, and the demand for their product variety has resulted in intensifying demand for flavor systems in these food products. Moreover, several innovations in food & beverages industry happening in this region that also accommodate flavor systems have been driving the growth of flavor systems market in this region.

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 flavor systems market. Givaudan (Switzerland), International Flavors & Fragrances (IFF) (US), Firmenich (Switzerland), Symrise (Germany), and Mane SA (France) are the leading players in the flavor systems market. Some of the other players in the flavor systems market include Frutarom (Israel), Sensient (US), Takasago (Japan), Robertet (France), Tate & Lyle (France), T. Hasegawa (Japan), Kerry Group (Ireland).

Sustainable Growth Opportunities in the Rice Seeds Market

The report "Rice Seeds Market by Type (Hybrid and Open-Pollinated Varieties), Grain Size (Long, Medium, and Short), Hybridization Technique (Two-Line and Three-Line), Treatment (Treated and Untreated Seeds), and Region - Global Forecast to 2023", The rice seeds market is projected to reach USD 7.62 billion by 2023, from USD 5.47 billion in 2018, at a CAGR of 6.85% during the forecast period. The market is driven by factors such as the increasing technological advances in rice breeding, declining prices of hybrid rice seeds, growing adoption of hybrid rice seeds in the developed and developing countries, and rising seed replacement rate for paddy across Asian countries.

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Long-grain rice seeds are estimated to be the most widely used variety of rice seeds in 2018.

Long grain rice is cultivated at a high rate across different countries due to the changing consumer demand and limited application of short grain rice in the food industry. The production of long rice has been growing across the globe, particularly in the US and Asian countries. Basmati and jasmine are some of the long grain rice varieties that are exported from Asia in large quantities and have industrial importance from the perspective of rice millers in terms of price value. In addition, hybrids and OPV seeds offered by key players such as Bayer and DowDuPont are mainly for long rice grains, followed by medium-sized rice and short rice.

The treated segment is projected to witness the fastest growth during the forecast period.

Seed treatment has been gaining importance for field crops, such as corn, wheat, and soybean, to reduce crop loss from early pest attacks. However, the adoption of this technology for rice is still gradual across countries. Rice is mainly cultivated in the Asian countries. However, farmers are reluctant toward investing capital on crop inputs and prefer adopting the traditional techniques of crop protection. Due to the rising need for sustainable agriculture and integrated pest management guidelines laid by governments in the Asian countries has encouraged farmers to adopt seed coating technologies. On the account of these factors, this segment is projected to grow at the highest rate during the forecast period.

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Asia Pacific is estimated to dominate the market in 2018 and is projected to be the fastest-growing market for rice seeds through 2023.

Asia Pacific is a major consumer and producer of rice across the globe, and inadequate arable land in this region has encouraged farmers for better yield from their cultivation. Adoption of advanced technologies such as hybrid and certified seeds is also increasing in this region. According to the recent data of USDA published in 2016, India and China are the two major producers and consumers of rice, not only in the Asia Pacific region but across the globe. The Asia Pacific market for rice seeds is consolidated with two players occupying the largest share, followed by other players. Since rice cultivation in other regions of the world is comparatively low, the growth of the Asia Pacific market is projected to remain steady during the forecast period.

This report includes a study of the development strategies, along with the product portfolios of leading companies. It also includes the profiles of leading companies such as Bayer (Germany), DowDuPont (US), Syngenta (Switzerland), Advanta Seeds (UPL) (India), and Nuziveedu Seeds (India), Mahyco (India), BASF (Germany), Kaveri Seeds (India), SL Agritech (Philippines), Rasi seeds (India), Rallis (India), JK Seeds (India), Hefei Fengle (China), LongPing (China), Guard Agri (Pakistan), and National Seeds Corporation (India).

Plant-based Beverages Market Will Hit Big Revenues In Future

The report "Plant-based Beverages Market by Source (Almond, Soy, Coconut, and Rice), Type (Milk and Other Drinks), Function (Cardiovascular health, Cancer prevention, Lactose intolerance, and Bone health) and Region - Global Forecast to 2023", The plant-based beverages market is estimated at USD 11.16 billion in 2018 and is projected to reach USD 19.67 billion by 2023, growing at a CAGR of 12.0% from 2018 to 2023.

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Based on the source, the global market for plant-based beverages has been segmented into almond, soy, coconut, and rice. The almond segment dominated the market, in terms of value, in 2017. North America is one of the key markets for almond milk, owing to high almond production in this region. The Asia Pacific region is expected to be a major revenue-generating pocket for almond milk, owing to increased urbanization and the increasing number of high-income groups in the region. Consumers in this region are shifting toward natural and healthy food options to cope with their hectic lifestyles. This, in turn, has boosted the sales for plant-based beverages.

Based on type, the plant-based beverages market has been segmented into milk and other drinks. The milk segment is estimated to account for the larger share in the market for plant-based beverages in 2018. The increased demand for non-dairy milk, amidst the growing health concerns, has urged consumers to look out for alternate food options. Apart from this, the rising level of lactose intolerance, especially in the Asia Pacific population, is expected to be a major revenue pocket for plant-based beverage manufacturers in the coming years.

In 2018, Asia Pacific is estimated to occupy the largest share of the global plant-based beverages market, in terms of value and volume. The region consists of key revenue generating countries, China & Thailand, which have a large consumer base for plant-based beverages; with China having one of the largest lactose intolerant population.

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The high price is one of the major challenges that manufacturers in the market face. Plant-based beverages can be easily purchased by consumers in developed countries; but in the developing countries, this remains a challenge.

The plant-based beverages market is dominated by key players such as United Technologies (US), Daikin Industries (Japan), Ingersoll-Rand (Ireland), China International Marine Containers (China), Utility Trailer (US). Other key players include Singamas Container (China), Hyundai (South Korea), Schmitz Cargobull (Germany), Fahrzeugwerk Bernard Krone (Germany), Lamberet (France), Kögel Trailer (Germany), Great Dane (US), Webasto (Germany), and Wilhelm Schwarzmuëller (Austria). Innovative new product launches, strategic acquisitions, expansions, joint ventures, and partnerships were the key strategies adopted by these players to enhance their product offerings and to capture a larger market share, which has increased the demand for plant-based beverages.

Agricultural Testing Market: Growth Opportunities and Recent Developments

The report "Agricultural Testing Market by Sample (Soil, Water, Seed, Compost, Manure, Biosolids, Plant Tissue), Application (Safety Testing (Toxins, Pathogens, Heavy Metals), Quality Assurance), Technology (Conventional, Rapid), and Region - Global Forecast to 2022",agricultural testing market is estimated to be valued at USD 4.56 Billion in 2017, and is projected to reach USD 6.29 Billion by 2022, at a CAGR of 6.64%. The market is driven by stringent safety and quality regulations for agricultural commodities, increase in outbreaks of foodborne illnesses, and rapid industrialization leading to the disposal of untreated industrial waste into the environment.

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Soil segment is estimated to be the largest in 2017

The agricultural testing market, by sample, is estimated to be dominated by the soil segment, since soil testing helps to determine the fertility or the expected enhancement of the soil, which indicates nutrient deficiencies, potential toxicities from excessive fertility, and inhibitions due to the presence of non-essential trace minerals.

Quality assurance segment set to dominate the market by2022

The agricultural testing market, by application, is projected to be dominated by the quality assurance segment during the forecast period. Increase in requirements for the quality of agrarian products in the world can be attributed to the export-oriented agricultural food sector as well as the need for implementing modern mechanisms of quality assurance, witnessed due to globalization.

Rapid technology segment is projected to be the fastest-growing market during the forecast period

The rapid technology segment is estimated to dominate the market for agricultural testing in 2017, and is also projected to be the fastest-growing from 2017 to 2022. Low turnaround time, higher accuracy & sensitivity, and the capacity to test a wide range of contaminants compared to the conventional technology are the factors driving the market for rapid technology.

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Asia Pacific is projected to be the fastest-growing market during the forecast period

The Asia Pacific market is projected to grow at the highest CAGR from 2017 to 2022. Major growth drivers of the region include increased adoption of advanced biotechnological methods and organic farming resulting in the need for agricultural testing, and an increase in the number of exports from the region, necessitating agricultural testing for the produce.

This report includes a study of marketing and development strategies, along with the services & product portfolios of leading companies. It includes the profiles of leading service companies such as SGS (Switzerland), Intertek (UK), Eurofins (Luxembourg), Bureau Veritas (France), ALS Limited (Australia), and TÜV NORD GROUP (Germany). It also includes profiles other players that also have significant share in this market such as Mérieux (US), AsureQuality (New Zealand), RJ Hill Laboratories (New Zealand), SCS Global (US), Agrifood Technology (Australia), and Apal Agricultural Laboratory (Australia).

Plant-based Meat Market: Growth Opportunities and Recent Developments

The report "Plant-based Meat Market by Source (Soy, Wheat, Pea, & Other Sources), Product (Burger Patties, Strips & Nuggets, Sausages, Meatballs, & Other Products), Type (Beef, Chicken, Pork, Fish, & Other Types), Process, and Region - Global Forecast to 2025" According to MarketsandMarkets, the global plant-based meat market size is estimated to be valued at USD 4.3 billion in 2020. It is projected to reach USD 8.3 billion by 2025, recording a CAGR of 14.0% in terms of value. Growing vegan and flexitarian populations across the world, rising awareness about the health benefits offered by plant-based meat over animal meat, and growth in government initiatives along with significant investments are driving the global plant-based meat market.

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The soy segment accounted for the largest share in the plant-based meat market

Based on sources, soy dominated the plant-based meat market. Soy serves as an alternative to meat sources such as pork, beef, and chicken, owing to its high protein content. Traditionally, the consumption of soy and soy products is associated with the Asian population. However, the consumption of soy foods has recently risen in Western countries, owing to the increase in the adoption of vegetarian diets. Soy-based foods are cholesterol-free against animal protein foods and serve as a source of fibers, vitamins, and other essential nutrients. Plant-based meat producers are increasingly incorporating soy to make products such as burgers, meatballs, and sausages.

The chicken segment accounted for a significant share in the plant-based meat market

Based on type, chicken accounted for the second-largest dominating segment in the plant-based meat market. Various strips, nuggets, and burgers contain chicken meat as their major ingredient. The products developed by many food companies thus offer plant-based chicken in various forms such as strips, nuggets, cutlets, and burger patties, which is leading to the rising demand for plant-based chicken meat.

The strips & nuggets segment is projected to grow at a significant growth rate in the plant-based meat market during the forecast period

By product, the plant-based meat market is segmented into burger patties, strips & nuggets, sausages, meatballs, and other products such as slices, fillets, cutlets, slides, fingers, and crumbles. They are a healthier alternative to meat and are environmentally more sustainable, which is why more food manufacturers are developing plant-based meat products. Several start-ups are going mainstream with the launch of plant-based burgers, nuggets, sausage, meatballs, and other products. Impossible Foods Inc. (US) and Beyond Meat (US) were among the key players to enter the plant-based meat market. These companies are backed by various types of investors, including leading players such as Tyson Foods (US).

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The North American region is also expected to grow at the highest CAGR during the forecasted period

North America is the fastest growing region in the global plant-based meat market. For American consumers, meat is a very prominent part of their diets. However, as many researches highlighted the health risks related to the consumption of red meat, consumers are increasingly shifting toward plant-based diets as they are a healthier option as compared to animal meat. Furthermore, Consumers in the region are adopting a flexitarian lifestyle and are incorporating plant-based foods in their daily routine diets. Along with this, the trend of veganism is gaining momentum in the region, which is further contributing to the growth of the plant-based meat market. Governments are also investing heavily in the plant-based protein industry, as there is a rise of vegan and vegetarian eating.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Beyond Meat (US), Impossible Foods Inc. (US), Maple Leaf Foods (Canada), The Vegetarian Butcher (Netherlands), Gardein Protein International (Canada), Morningstar Farms (US), Quorn Foods (US), Amy’s Kitchen (US), Tofurky (US), Gold&Green Foods Ltd. (Finland), Sunfed (New Zealand), VBites Food Limited (UK), Alpha Foods (US), Planterra Foods (US), Before the Butcher (US), No Evil Foods (US), Like Meat (Germany), The Meatless Farm Co. (England), Hooray Foods (US), and Yves Veggie Cuisine (Canada).