Latest Regulatory Trends Impacting the Pest Control Market

Pest Control Market is projected to reach USD 29.1 billion by 2026, recording a CAGR of 5.1% in terms of value. It is estimated to be valued at USD 22.7 billion in 2021. Pest management includes controlling infestations of insects, animals, germs, or other organisms that damage property, destroy food crops, and adversely affect the environment. Pest control eradicates or minimizes a wide range of undesirable insects and other pests from areas used for protective purposes, using chemicals, technologies, special equipment, and other safety measures. Various chemical, mechanical, biological, and digital solutions control different types of pests. Additionally, since pesticide solutions are toxic, pest control technicians must be acquainted with safety measures and proper usage.

Pest control is a prime aspect of food safety across the global food supply chain. Automation and sustainable approach have gained prominence within the supply chain. The number of service providers in the pest control market has witnessed a significant increase in recent years, driven by consumer demand for pest control services. Pest control service providers have extended their available services from control, extermination, and prevention to monitoring and suppression, with the help of digital technologies and traps, including motion sensors and automated traps. Companies such as Rentokil Initial PLC provide digital pest control systems such as PestConnect range of IoT-enabled pest-control devices that allows the monitoring of food processing facilities with maximum efficiency and minimum effort. CRE8TEC Pte. Ltd., based in Singapore, Thailand, Indonesia, and Sri Lanka, developed RATSENSE, an integrated infrared sensor-based system backed by data analytics for pest control.

How much will pest control market grow in 2023 and beyond?

Chemical treatment is the mainstream method to reduce losses caused by insect pests. However, due to the unwarranted side effects of chemicals, pest management relies on many other options, including pesticides. Also, these chemicals generally do not completely control insects across all growth stages. A combination of chemical, mechanical, and biological control methods is required to control all stages of insects' growth. Cockroaches are adaptable insects and can withstand diverse climate conditions. They are also prevalent in regions with harsh climate conditions, such as the Arctic Circle and desert regions, where they have developed mechanisms to survive without water for a limited period. These pests thrive in warm areas for food and are considered a nuisance in residential, commercial & industrial areas. Control methods for cockroaches include physical, biological, and chemical methods. Physical methods include traps, heating of the infested area, vacuum, dust, and bait gels. Biological methods include introducing predatory creatures such as frogs, turtles, mice, and hedgehogs, which feed on cockroaches.

According to reports by major service providers, Rentokil Initial Plc (UK) and Anticimex (Sweden), North America occupies nearly 50% of the global pest control market. This is attributed to the increase in the number of services available in the US and a high rate of urbanization in the US and Canada. The strengthening of the housing market and a steadily improving economy have led to increased investments in both residential and commercial properties. These factors are driving the market in the region.

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Key Market Players

The key players in this market include Bayer AG, Corteva Agriscience, BASF, Sumitomo Chemical Co., FMC Corporation, Syngenta AG, ADAMA, and Bell Laboratories. 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.

Snack Pellet Equipment Market Market to Showcase Continued Growth in the Coming Years

The report "Snack Pellet Equipment Market Product Type (Potato-Based, Corn-Based, Rice-Based, Tapioca-Based, Multigrain-Based), Form (2D, Tridimensional, Die-Faced), Equipment Type (Extrusion, Mixing, Cutting, Drying, Frying, Seasoning), and Region - Global Forecast to 2025" The snack pellet equipment market is estimated to account for nearly USD 1.0 billion in 2019 and is projected to reach a value of nearly USD 1.4 billion by 2025, recording a CAGR of 5.2% from 2019. Due to busy lifestyles and professional commitments, individuals have limited time to prepare food at home. The snack pellet market is driven by the increasing need for convenience foods due to the busy lifestyles of consumers. Thus, increasing consumer preference for processed foods indirectly contributes to the growing demand for snack pellets as they require less time and efforts to prepare. This, in turn, is projected to drive the growth of the snack pellet equipment market.

 

 

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By product type, the potato-based segment is estimated to account for the largest share in the snack pellet equipment market in 2019.

 

On the basis of product type, the potato-based segment is estimated to dominate the snack pellet equipment market in 2019. This is due to the increasing consumer preference for convenience foods, which indirectly drives the increasing demand for snack pellets products, as they require less time and efforts. Currently, snack pellet manufacturers are focusing on adopting advanced technologies and offering GM potatoes to drive the demand for potato pellets. GM potatoes are protein-packed potatoes with approximately 35%–60% protein content, which makes it more preferable. This, in turn, is projected to drive the growth of the snack pellet equipment market.

 

The snack pellet equipment market is projected to witness strong growth due to the increasing advancements in equipment and technologies.

 

Earlier, snack pellet manufacturers used different extruders for making pellets based on various raw materials that have different characteristics and cooking time. However, with the upgradation and automation, snack pellet manufacturers are adopting extrusion systems that produce three-dimensional pellets, thus providing better end products to its customers. Moreover, advanced manufacturing processes enhanced the bulk production capacity and shelf life of pellets, prior to frying or puffing. In addition, these improvements in the manufacturing process offer advantages such as innovative designs and capital cost reduction, which is projected to contribute to the market growth.

 

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North America is estimated to dominate the snack pellet equipment market in 2019.

 

North America is estimated to account for the largest market share in the snack pellet equipment market in 2019. The North American region witnesses the presence of various established snack pellet manufacturing companies that are increasing their production capacity due to the rising demand for ready-to-eat snacks. This is projected to create an opportunity for manufacturers in the snack pellet equipment market to expand in North America. Busy lifestyles of consumers reduce the time available for homemade snacks; this increases the demand for convenience foods. In addition, increasing health consciousness and concerns for food safety have encouraged the production of light and convenient snack foods such as snack pellets. These factors are projected to drive the snack pellet equipment market during the forecast period.

 

This report includes a study of marketing and development strategies along with the product portfolios of the leading companies in the snack pellet equipment market. It also includes the profiles of leading companies such as Clextral (France), GEA Group (Germany), Buhler AG (Switzerland), N.P. & Company, Inc. (Japan), Kiremko B.V. (Netherlands), JAS Enterprises (India), Grace Food Processing & Packaging Machinery (India), Tsung Hsing Food Machinery Co., Ltd. (Taiwan), AC Horn Manufacturing (US), Jinan Dayi Extrusion Machinery Co., Ltd (China), Mutchall Engineering Pvt. Ltd (India), and Radhe Equipments India (India).

Lactase Market to Showcase Continued Growth in the Coming Years

According to a research report "Lactase Market by Source (Yeast, Fungi, and Bacteria), Form (Liquid and Dry), Application (Food & Beverages and Pharmaceutical products & Dietary Supplements), Region (North America, Europe, Asia Pacific, South America and RoW) - Global Forecast to 2027" published by MarketsandMarkets, the global lactase market is estimated to be valued at USD 247 million in 2022. It is projected to reach USD 336 million by 2027, at a CAGR of 6.3%, in terms of value between 2022 and 2027. Lactase enzyme is used food and beverage industry to hydrolyze lactose found in milk and dairy products. The lactase enzyme is obtained from different sources which have high activity and enzyme stability which can sustain the fermentation process during manufacturing. A significant increase in the number of people suffering from lactose intolerance is driving up the demand for lactose-free products. This is one of the most important factors influencing the demand for lactase enzymes for the manufacturing of lactose-free products. Further, an increase in R&D activities by key players to provide affordable and sustainable solutions to the stakeholders in the value chain is expected to drive the market.

 

 

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Yeast accounts for the largest market share in the lactase market

 

Based on the source, the yeast segment dominates the market. Lactase enzymes are traditionally extracted from yeast, and they are stable for their application in food & beverages and pharmaceutical. Yeast contains â-galactosidase which breaks down lactose to simpler sugars. It involves the mechanism of phosphorylation, where lactose is cleaved intracellularly by a â-galactosidase.

 

The liquid segment accounts for the largest market share in the lactase market during the forecast period

 

Based on form, the liquid segment is projected to account for the largest market share in the lactase market. Liquid lactase accelerates chemical and biological reactions thus making it ideal for food & beverage application. Due to the liquid form, the enzyme is diluted and can also be used in lesser dilutions according to the application. The drawback of the liquid form is that the enzyme needs to be stored at the optimal temperature to maintain its enzymatic activity.

 

The pharmaceutical products & dietary supplements segment is projected to grow at a significant CAGR in the lactase market during the forecast period

 

By application, the lactase market is segmented into food & beverages and pharmaceutical products & dietary supplements. In the pharmaceutical segment, lactose is used as an excipient that binds the table. It is not suitable for patients with lactose intolerance; hence the dry lactase powder is used to break down the sugar and make it ideal for consumption by people with lactose intolerance. Similarly, lactose-free dietary supplements provide all nutrition from the milk without compromising on the health and taste of the product.

 

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Asia Pacific is projected to grow with the highest CAGR in the lactase market during the forecast period

 

The Asia Pacific region is projected to grow at the highest CAGR during the forecast period and occupies a significant share in the global lactase market. The increasing awareness regarding lactose intolerance in both adults and infants is gaining momentum in the region. Additionally, the demand for lactose-reduced infant formula and lactose-free products for adult nutrition is significantly catering to the growth of the lactase market in the region. Asia Pacific is also witnessing significant expansion in terms of production by key players operating in the market. The regional manufacturers are currently focusing on new product developments and strategic deals such as partnerships, collaborations, and expansions to create more awareness among consumers and cater to the growing demand.

 

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 CHR. Hansen Holdings A/S (Denmark), Kerry Group plc. (Ireland), Koninklijke DSM N.V. (the Netherlands), Novozymes A/S (Denmark), Merck KGaA (Denmark), IFF (US), Amano Enzymes (Japan), Advanced Enzymes (India), Novact Corporation (US), Antozyme Biotech Pvt. Ltd (India), Nature Biosciences Pvt. Ltd (India), Aumgene Biosciences (India), Creative Enzymes (US), Biolaxi Enzymes Pvt. Ltd (India), Enzyme Biosciences Pvt. Ltd (India), Infinita Biotech (India), Mitushi Biopharma (India), Oenon Holdings Inc. (Japan), Ultreze Enzymes (India), and Senson (Finland)

Sustainable Growth Opportunities in the Water Soluble Packaging Market

The report "Water Soluble Packaging Market by Raw Material (Polymer, Surfactant, and Fiber), End Use (Industrial, and Residential), Solubility Type (Cold Water Soluble and Hot Water Soluble), Packaging Type, and Region - Global Forecast to 2025" According to MarketsandMarkets, the water soluble packaging market is estimated to be valued at USD 2.8 billion in 2019 and is projected to reach USD 3.7 billion by 2025, recording a CAGR of 5.0%. The rapidly growing environmental and sustainability concerns across the globe and government initiatives to reduce the use of plastics are driving the market for water soluble packaging.

 

 

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The food & beverage and agriculture in industrial segment are projected to witness the significant growth during the forecast

 

Based on end use, the water soluble packaging market is segmented into industrial and residential, wherein industrial segment is sub-divided into pharmaceuticals, food & beverages, agriculture, chemicals, and water treatment. The food & beverages and agriculture segments are projected to witness significant growth during the forecast period due to the increasing concerns toward waste production due to high use of non-biodegradable plastics and their harmful effects on packaged food & beverages.

 

In the agriculture industry, chemical fertilizers wrapped with water soluble packets ease out the handling process. Also, dissolved packaging of the fertilizers cut down the packaging waste generation and leads to reduced cleaning costs.

 

The pouches segment is accounted to have the major share in the water soluble packaging market during the forecast period

By packaging type, the water soluble packaging market is segmented into pouches, bags, and pods & capsules. The pouches segment is estimated to account for the major share in the water soluble packaging market due to the high usage of water soluble packaging in the chemical industries. In the current scenario, most of the packaging is made of plastic for safe and secure handling and usage of detergent; water soluble packaging of detergent serves the purpose better. Detergent wastage can be minimized as water soluble packets or sachets can be made available to consumers for household and industrial cleaning. The water soluble packaging avoids direct contact with detergent as the product can be used without removing the package, which will ensure safe usage.

 

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

 

The water soluble packaging market in Asia Pacific is projected to witness high growth due to the strong local and export demand. The rising population and growing number of manufacturing industries in Asia Pacific is the key factor driving the market for water soluble packaging. The manufactured product is used domestically as well as exported. China and Japan are the hubs for water soluble film production. In India, the population is increasing rapidly, and the country is striving for safe, better, clean, and healthy lifestyle. The water soluble packaging market will grow in these regions at a high rate.

 

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 Lithey Inc. (India), Mondi Group (Austria), Sekisui Chemicals (Japan), Kuraray Co. Ltd. (Japan), Mitsubishi Chemical Holdings (Japan), Aicello Corporation (Japan), Aquapak Polymer Ltd (UK), Lactips (France), Cortec Corporation (US), Acedag Ltd. (UK), MSD Corporation (China), Prodotti Solutions (US), JRF Technology LLC (US), and Amtopak Inc. (US).

Aquafeed Market to Witness Unprecedented Growth in Coming Years

The report "Aquafeed Market by Species (Fish, Crustaceans, and Mollusks), Ingredient (Soybean, Corn, Fishmeal, Fish Oil, and Additives), Lifecycle (Starter Feed, Grower Feed, Finisher Feed, and Brooder Feed), Form, Additive, and Region - Global Forecast to 2025", The global aquafeed market is estimated to be valued at USD 56.0 billion in 2020. It is projected to reach USD 71.6 billion by 2025, recording a CAGR of 7.2% during the forecast period. The global aquafeed market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. China, Norway, Vietnam, and Thailand are the key fish producers as well as the largest exporters of fish and fishery products. The global consumption of seafood has increased due to the rising awareness about the health benefits of consuming fish and other aquaculture species. They are a rich source of vitamins, minerals, amino acids, and essential fats (long-chain omega-3 fatty acids).

 

 

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Processed soybean is the worlds largest source of animal protein feed.

 

Soybean is among the non-fish sources of omega-3 fatty acids, proteins, and unsaturated fats. Soy protein is fed to farm-reared fish and shellfish to enhance their overall growth and development. Some of the commonly used soybean products in aquafeed include heat-processed full-fat soybean, mechanically extracted soybean cake, solvent-extracted soybean meal, and dehulled solvent-extracted soybean meal. According to the USDA, processed soybean is the worlds largest source of animal protein feed. Soybean isolates and different varieties of genetically modified soybeans are being introduced to replacing fishmeal, which is a rich source of amino acids.

 

Feed enzymes aid in nutrient absorption due to which its application is growing in feed

 

Enzymes are biological catalysts that help to lower feed costs and reduce phosphorus content in animal waste. Feed enzymes are widely used to improve the nutritive value of feed by regulating various metabolic reactions. Enzymes increase the digestibility of nutrients in feed, which leads to an increase in the efficient production of various animal products. The demand for feed enzymes is increasing, as they are used for the development of the immune system and bones of aquatic animals. Feed enzymes enhance the growth of animals by weight gain and the quality of output.

 

Oysters and mussels are the most widely cultured groups under mollusks

 

Mollusks serve as a good source of protein. Their shells have industrial as well as ornamental uses. Along with harvesting mollusks from natural fisheries, they are also cultured in artificially controlled environments to protect them during storms and wind, and to increase their productivity. Various factors, such as nutrient composition, rapid growth rate, mass culturing, stability in temperature & light, and easy digestibility, are considered before using certain species of microalgae as feed. The market for mollusk feed is growing slowly due to slower adoption and the high cost of feed. The research activities to find cheaper alternative sources of algae are expected to drive the slow-paced market.

 

The free-flowing structure and consistency of the dry aquafeed makes it a preferred form

 

The feed for fish is most commonly available in the form of pellets or granules, and usually contains moisture of approximately 7%–13%. Most aquafeed manufacturers adopt the use of the dry form of feed due to its free-flowing structure and ability to provide consistency. This form of feed is also preferred due to other factors, such as ease of transportation, storage, and convenience associated with it, as opposed to the liquid form, which requires specialized facilities for storage and transportation. It can be purchased in bulk and is available with multiple ingredient options. Cost-effectiveness is another aspect that drives the growth of this market.

 

Protein levels in finisher feed vary by different shrimp species

 

Finisher feed is usually administered to fully-grown fish species. Finisher feed ensures a balanced diet and supports muscle growth alongside higher nutrient absorption. Alltechs survey on Global Aquaculture Feed Production Survey analyzed the average cost of finisher diets and concluded that finisher feeds had remarkably high costs in countries, such as South Korea, Japan, and Vietnam. Fishmeal and fish oil are some of the key ingredients used in finisher feeds. The finisher feed prepared for various species differs in terms of protein levels. The finisher feed fed to monodon species (tiger prawns) contains 38% of crude protein as opposed to the finisher feed for L.vannamei, which contains 32%–34% of crude protein.

 

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North America is projected to reach USD 2.4 billion during the forecast period.

 

The US was the dominant market for aquafeed in the North American region, having accounted for a share of 64.0% in 2020. The US also remains one of the worlds largest exporters of seafood products, exporting farm-raised trout & salmon largely to Canada and Mexico, and oysters & clams to Canada. It is also the second-largest seafood importer from Asia Pacific countries. Aquafeed consumption is increasing slowly in the US due to the growing demand for fish for direct human consumption (DHC). Apart from being the leading consumer of aquafeed, it also exports to South American and Asian countries.

 

The key players in this market include Cargill, Incorporated (US), ADM (US), Nutreco N.V. (Netherlands), and Ridley Corporation Ltd. (Australia).

Growth Strategies Adopted by Major Players in the Soil Conditioners Market

The report "Soil Conditioners Market by Type (Surfactants, Gypsum, Super Absorbent Polymers, and Others), Application (Agriculture, Construction & Mining, and Others), Formulation (Liquid and Dry), Crop Type, Soil Type, and Region - Global Forecast to 2025" The global soil conditioners market is estimated to account for a value of USD 1.7 billion in 2020 and is projected to grow at a CAGR of 8.3% from 2020, to reach a value of USD 2.5 billion by 2025. Increased demand for agricultural crops such as rice, wheat, and soybean, especially from the developing countries and decrease in availability of agricultural land owing to urbanization is among the key factors expected to drive the soil conditioners market.

 

 

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The surfactants segment is projected to be the largest segment in soil conditioners market during the forecast period.

 

Surfactants are also termed as soil wetting agents. Soil surfactants are the soil wetting agents that are designed for improving infiltration, water distribution, and water retention. Several players offer wetting agents having application in turf and agrochemicals industry. Solvay (Belgium) is among the leading player offering a wide portfolio of wetting agents having application in agriculture. Apart from this, Aquatrols (US) is also backed by a wide variety of surfactants portfolio having applications in turf and agriculture. Increase in number of sports turf in developed countries and increased demand for agricultural crops in developing countries is expected to drive demand for surfactants in the years to come.

 

The agriculture segment is estimated to account for the second largest market share, in terms of value, in 2020.

 

Soil conditioners act as a valuable tool for the agricultural industry with their ability to enhance soil fertility, texture, and quality. Apart from this, shrinkage in the availability of arable land has urged farmers to enhance crop production in existing land, thus creating an opportunity for soil conditioner manufacturers. In developing countries, population growth and urbanization are the key reasons for the shrinkage of arable land. However, this has also increased the demand for crop production in these developing countries. Thus the rising demand for soil conditioners in agriculture fields in the developing countries is expected to drive the soil conditioners market in the forecast period.

 

The liquid segment is estimated to account for the largest market share, in terms of value, in 2020.

 

Liquid soil conditioners serve as a wetting agent that enhances water retention capacity. In comparison with the dry form, a low quantity of liquid soil conditioners is enough to cover larger crop areas. The liquid forms are applied on a volume basis rather than a weight basis.These factors are expected to boost sale of liquid conditioners in the years to come. Leading player, BASF (Germany), has its entire range of soil conditioner in the liquid form catering for the tunnel construction. Syngenta (Switzerland) offers soil conditioner under its brand, Qualibra, which also is a liquid conditioner used in sports fields.

 

The cereals & grains segment is estimated to account for the largest market share, in terms of value, in 2020.

 

Cereals & grains are the staple food products in many countries, which include wheat, rice, corn, sorghum, oats, and barley. With the increase in population and food demand, the basic requirement of farmers is to increase the yield of cereals & grains in a sustainable way. Here, demand for soil conditioners, such as surfactants (soil wetting agents), gypsum, and natural polysaccharide derivatives, are expected to increase to improve the quality and quantity of cereals & grain crops.

 

The loam soil segment is projected to be the largest segment in soil conditioners market during the forecast period.

 

Loam soil is mainly used for gardening and agricultural purposes, owing to its water-retention capacity. It has high calcium content and has a high aeration capacity. This soil is suitable for most crops and vegetables. Loamy soil covers major parts of the Earth’s crust and is considered highly fertile. Rotational farming is highly practiced on loamy lands, which is projected to drive the demand for agrochemicals, such as soil conditioners. Loam soil is widely available across regions, due to which this segment is projected to dominate the market.

 

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North America accounted for the largest share during the forecast period.

 

The North American region accounted for the largest share during the forecast period. The increase in industrial activities is a key factor that has caused soil degradation in the North American region. Also, North America hosts several mining activities, which lead to barren soil that is susceptible to erosion by wind and rain. . In North America, contamination of the surface in farms and mining to extract minerals, coal, oil, or gas has resulted in soil degradation. According to a report published by Cornell study 2017, in the US, soil disappears ten times faster than it is naturally replenished at an estimated rate of nearly 1.7 billion tons of farmland per year. These factors have contributed to rise in demand for soil conditioners in the 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 soil conditioners market. It includes the profiles of leading companies, such as BASF (Germany), Syngenta (Switzerland), Novozymes (Denmark), Solvay (Belgium), UPL (India), Clariant (Switzerland), Evonik Industries (Germany), Eastman Chemical Company (US), Croda International PLC (UK), ADEKA Corporation (Japan), Vantage Specialty Chemicals (US), Aquatrols (US), Rallis India Limited (India), Humintech GmbH (Germany), GreenBest Ltd (UK), Omnia Specialities Australia (Australia), Grow More, Inc. (US), Geoponics Corp. (US), Delbon (France), and FoxFarm Soil & Fertilzer Co. (US).

Cocoa and Chocolate Market Growth by Emerging Trends, Analysis, & Forecast

According to a research report "Cocoa and Chocolate Market by Type (Dark Chocolate, Milk Chocolate, Filled Chocolate, White Chocolate), Application (Food & Beverage, Cosmetics, Pharmaceuticals), Nature (Conventional, Organic), Distribution and Region - Global Forecast to 2027" published by MarketsandMarkets, the global cocoa market is projected to reach USD 26.3 billion by 2027, growing at a CAGR of 4.5% from 2022 to 2027. The global chocolate market is projected to reach USD 160.9 billion by 2027, growing at a CAGR of 4.7% from 2022 to 2027.

 

 

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With the growing awareness about health, an increasing number of consumers are prioritizing their health and following specific diets with specific needs. This propels the demand for dark chocolate with high cocoa and less sugar. Cocoa is the major raw material required to manufacture chocolate. The slightest turbulence in the cocoa market would lead to price fluctuations. According to the International Cocoa Organization, the world’s largest supplier of cocoa is Africa, which accounts for 72% of the global production of cocoa. Ivory Coast and Ghana are the major countries producing cocoa, but these countries are also facing certain issues such as fair trade discrepancies, environmental issues, spells of government unrest, and reducing labor force as more population is leaving farming as an occupation and opting other professions Therefore, measures such as implementation of National Cocoa Development Plan (NCDP) in the member countries of ICCO are being undertaken to improve the production of cocoa. Initiatives like these gives a promising outlook towards fulfilling the rising demand for cocoa globally. The cocoa & chocolate market players are showing trends of pursuing both organic as well as inorganic strategies for their expansion, consolidation, and sustainability in the market. Developments and new product launches in chocolate and rise in the use of cocoa for cosmetics and pharmaceuticals are driving the market and is leading to an increased demand for cocoa.

 

Milk Chocolate segment is the fastest growing among the various types of chocolate during the forecast period

 

The market for chocolate, based on type, is segmented as dark chocolate, milk chocolate, filled chocolate, and white chocolate. The milk chocolate segment is estimated to dominate the chocolate market in 2022 and is anticipated to witness similar trends throughout the forecast period. Milk chocolate has low level of cocoa solids and is lighter and sweeter than dark chocolate. Dark chocolate segment has witnessed an upwards trend over the years owing to various health benefits associated with it due to the presence of high fiber, high iron, magnesium, potassium, and phosphorous content.

 

In the cocoa and chocolate market, organic nature segment is registering the highest growth during the forecast period

 

The cocoa market, based on the nature, is segmented into conventional and organic. In 2022, the conventional cocoa market segment is expected to dominate the market. The conventional cocoa products are easily available at low cost and is widely preferred. Due to the need for organic farming, high labour expenses, maintenance requirements, and other organic cocoa-related operating expenditures, organic cocoa ingredients and products are quite expensive. The organic cocoa segment, however, is estimated to witness a higher growth rate during the forecast period owing to its various health benefits and environment friendliness.

 

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Asia Pacific region is witnessing the highest growth rate in chocolate market

 

The Asia Pacific region is witnessing the fastest growth rate of 5.72% during the forecast period. The Chinese cocoa market, in terms of volume, is estimated to grow at a CAGR of 6.39%. This is attributed to the strong demand for chocolate in the country. Across Europe, Germany consumed the highest quantity of chocolate in 2021 followed by UK, and Belgium. United States accounted for the largest market share primarily driven by the large consumption of confectionary and bakery items. According to the Observatory of Economic Complexity (OEC), the US was the seventh largest exporter of chocolate in 2020, with key export destinations being Canada, Mexico, South Korea, Australia, and the UK. Growth in this region is attributed to the growing population, rise in per capita income, growing urbanization, and therefore, an increase in demand for chocolate-based products. Additionally, the nutritional benefits of chocolate are promoting the growth of chocolate in the region.

 

The key players in cocoa and chocolate market include Mars, Inc.(US), Mondelez International (US), Nestle S.A. (Switzerland), Meiji Holding Co. Ltd.(Japan), Ferrero International(Italy), Olam Group (Singapore), Barry Callebaut(Switzerland), Cargill Incorporated (US), Cocoa Processing Company (GHANA), Archer Daniel Midland (ADM) Company (U.S.), Chocoladefabriken Lindt & Sprüngli AG (Switzerland) and Pladis Global(UK) among others.

Agricultural Sprayers Market to Showcase Continued Growth in the Coming Years

According to a research report "Agricultural Sprayers Market by Type (Self-propelled, Tractor-mounted, Trailed, Handheld, Aerial), Capacity, Farm Size, Crop Type, Nozzle Type, Usage, Power Source (Fuel-based, Electric & Battery-driven, Manual, Solar), & Region - Global Forecast to 2027" published by MarketsandMarkets, the market for Agricultural sprayers is estimated at USD 2.5 billion in 2022. It is projected to reach USD 3.5 billion by 2027, recording a CAGR of 6.8% during the forecast period. With the growing world s population and the decreasing amount of arable land, the focus has shifted towards usage of modern agricultural techniques, like agricultural sprayers, to increase crop productivity. Increasing focus on farm efficiency and productivity, rising production of cereals & grains in Asian countries, and government support toward modern agricultural techniques are some of the major drivers driving the growth of the agricultural sprayers market.

 

 

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The self-propelled segment by type is projected to achieve the highest CAGR growth in the agricultural sprayers market.

 

Self-propelled sprayers are used to meet the large-scale productivity demand of crops. Although self-propelled sprayers have slightly higher initial costs, its lower application cost contributes to a higher ROI. Self-propelled sprayers can do the same job as pull-type machines for the same or less money, depending on the number of acres covered. A self-propelled sprayer becomes more cost-effective as the acres covered increases.

 

By capacity, the high volume sprayers is projected to account for the highest CAGR 6.4% in the agricultural sprayers market.

 

The most common equipment for applying fertilizer and pesticides is high volume sprayers. The tanks capacity is significantly higher than that of other types of sprayers, which extends the spraying period by reducing the amount of time spent traveling and filling the tank. The benefit of using high volume sprayers is that they last longer and provide the crop with proper penetration and coverage of fertilizers, insecticides, and other chemicals.

 

The large farm segment by farm size is projected to account for the second largest market share in the agricultural sprayers market over the forecast period.

 

Farms larger than 200 hectares in size fall within the large farm segment. Considering economies of scale, self-propelled sprayers in agriculture are most suited for large types of farms. A distinguishing agronomic or economic advantage in agriculture is the ability to fully capitalize on planting or weed control opportunities. As a result large farms are able to produce grain yields that are significantly higher. Additionally, the revenue generated by these farms is more than double per unit of land area.

 

The other crop type segment is projected to observe the highest CAGR of 6.9% in the agricultural sprayers market during the forecast period.

 

Sprayers are among the most important agricultural tools required for crop production. Pest and weed infestation are serious issue in floriculture crops, turf, and ornamental plants, and there is a crucial need to prevent the infestations in fields which has led to increase in demand for agricultural sprayers. A major factor for the growth of agricultural sprayers in the other segment is the increasing application of plant regulators and herbicides in turf and ornamentals.

 

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Asia Pacific is projected to achieve the Highest CAGR of 6.8% in the agricultural sprayers market.

 

India, Australia, Japan, and other nations in the Asia-Pacific region are traditional agricultural countries. Traditional agriculture relied primarily on human labor and draught animals. The majority of modern agricultural operations depends on machinery, particularly fast, potent tractors, combines, and implements. Tractors with mounted and trailed implements such as sprayers allow the mechanization of many agricultural operations. Due to the increasing average farm size, larger, more upgraded sprayers are being used to meet farm needs rather than older, less efficient ones. This will drive market growth in the Asia-Pacific region during the forecasted period.

 

The key players in this market include John Deere (US), CNH Industrial NV (UK), Kubota Corporation (Japan), Mahindra & Mahindra Ltd (India), STIHL AG (Germany), AGCO Corporation (US), YAMAHA Motor Corporation (Japan), Bucher Industries AG (Switzerland), DJI (China), Exel Industries (France), Amazonen Werke (Germany), B group Spa (Italy), Case IH (US), HD Hudson Manufacturing Co (US), and Buhler Industries Inc (Canada). 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.

Pest Control Market to Showcase Continued Growth in the Coming Years

The report "Pest Control Market by Pest Type (Insects, Rodents, Termites), Control Method (Chemical, Mechanical, Biological), Mode of Application (Sprays, Traps, Baits), Application (Residential, Commercial, Industrial), and Region – Global Forecast to 2026" estimated at USD 22.7 billion in 2021; it is projected to grow at a CAGR of 5.1% to reach USD 29.1 billion by 2026.

 

 

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Pest control has witnessed strong growth due to public health concerns and an increase in the frequency of pest infestations due to climate changes. In countries such as the US, strong regulatory requirements concerning pest control and environmental protection laws have helped bolster the market demand and attract service providers to set up business units. With the rise in demand and preference for a clean and pest-free environment, pest control manufacturers and service providers have been strategizing on coming up with innovative solutions for the market at a reasonable price. The surge in global Internet penetration would be another influential trend in driving the market in terms of value sales. Manufacturers and distributors make the best of the Internet in spreading awareness about their products and services among target consumers and simultaneously generating revenue sales.

 

Insects sub-segment in by pest type segment is estimated to account for the largest share in the pest control market.

 

There are more than a million described species of insects, with 90% of all animal forms on earth consisting of insects. Insects such as mosquitoes, ants, cockroaches, and tiny moths destroy household materials and may cause ill-effects on the human body. Of the different types of insects, certain species are classified as pests and are controlled using chemicals, biologicals, and other mechanical means. The use of chemicals is the mainstream method to reduce losses caused by insect pests. Thus they are estimated to dominate the by pest type segment.

 

In by control method segment, the software and services sub-segment is projected to account for the fastest market growth in the pest control market.

 

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. 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.

 

Sprays sub-segment by mode of application is projected to account for the largest market share of the pest control market over the forecast period.

 

Spray-based pest control solutions incorporate a liquid formulation which is deployed either in an aerosol form, or a pressurized spray container. The spraying requirements may differ based on the pest type, climate conditions in the region, and the type of chemical used. Spray formulations are used to control a wide array of pests, including flies, cockroaches, ants, scorpions, silverfish, spiders, bed bugs, and ticks. Residual sprays are considered effective as the pesticides are mixed with adjuvants such as surfactants, which allow the pesticide to remain in contact with the infested area or insect body for a limited time.

 

Industrial sub-segment by application is projected to account for the fastest market growth in the pest control market over the forecast period.

 

Pest control in factories and manufacturing units is mandatory in the US. The mandate may differ on a case-by-case basis. For instance, pest control requirements in pharmaceutical and food manufacturing units are stringent to prevent any type of contamination in the product. In industrial facilities, factories, and manufacturing plants, certain birds cause serious problems as they may get caught in the machinery or dig holes in the roofs. The rapid urbanization globally is driving the market growth of the segment.

 

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North America is estimated to dominate the global pest control market over the forecast period.

 

According to reports by major service providers, Rentokil Initial Plc (UK) and Anticimex (Sweden), North America occupies nearly 50% of the global pest control market. This is attributed to the increase in the number of services available in the US and a high rate of urbanization in the US and Canada. The strengthening of the housing market and a steadily improving economy have led to increased investments in both residential and commercial properties. These factors are driving the market in the region.

 

The key players in this market include Bayer AG, Corteva Agriscience, BASF, Sumitomo Chemical Co., FMC Corporation, Syngenta AG, ADAMA, and Bell Laboratories. 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.

Growth Strategies Adopted by Major Players in the Specialty Fertilizers Market

According to a research report "Specialty Fertilizers Market by Technology (Controlled-release Fertilizers, Micronutrients, Water Soluble Fertilizers, and Liquid Fertilizers), Form (Dry and Liquid), Application Method, Type, Crop Type and Region - Global Forecast to 2027" published by MarketsandMarkets, the global specialty fertilizers market size is estimated to be valued at USD 24.3 billion in 2022 and is projected to reach USD 33.7 billion by 2027, recording a CAGR of 6.8% in terms of value.

 

 

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Usage of foliar mode of application to avoid deficiencies and reduce stress drives demand

 

Foliar fertilizer technology is a one-of-a-kind, dynamic, and efficient crop nutrition method. Foliar feeding is an excellent solution when the plant root system is not functioning properly or when nutrition from the soil is failing. When root uptake is hampered by factors such as cold or warm soils, high soil pH, high weed competition, or nematode infestation, this type of feeding is ideal. Foliar fertilizers are also ideal for preventive measures to avoid deficiencies and reduce stress.

 

Water-soluble fertilizers have been introduced exclusively for foliar feeding and fertilization. This application technique helps increase nutrient supply during the early growth stages when the roots are not well-developed. This method of applying liquid specialty fertilizers on crops, such as corn and soybean, has helped overcome possible limitations in crop nutrient uptake and increase the yield and efficiency of the nutrients used. The foliar mode of application is widely used to apply micronutrients, particularly iron and manganese. It is mostly used for many fruits, vegetables, and flower crops. Micronutrients can be foliar applied as liquid or suspensions to crops. Soluble inorganic salts of micronutrients are effective in foliar spray and lower in cost than synthetic chelates. For many horticultural crops, foliar application is preferred for correcting iron chlorosis. Foliar nutrient application can also correct occasional nutrient deficiencies or ensure that the plant’s nutrient needs are ‘topped up’ during critical stages of growth when soil nutrient supply is insufficient or during stressful periods such as heat or drought.

 

The ease of application of liquid specialty fertilizers is driving the market during the forecasted period

 

Liquid specialty fertilizers include micronutrient, slow-release, water-soluble, and other liquid fertilizers. These are simple to handle and apply. Pumps are used for movement, and they usually require less labor to handle. Liquid fertilizers contain one or more plant nutrients that are readily available. They have better tolerance limits for adverse conditions. To keep fertilizer particles from settling, suspension agents such as colloidal clay material are typically used. Suspension fertilizers are not meant to be stored for an extended period. True solution fertilizers can be stored if the temperature stays above freezing but salting out may be an issue in cold weather.

 

Liquid fertilizers can be applied either on the ground or on the leaves. They can also be broadcast and applied as a band at planting. When applied foliar, plant nutrients are absorbed through the leaves and are more readily available for plant use than when applied ground. However, the availability of foliar-applied nutrients is transient and does not last throughout the growing season. Foliar applications can help to correct mid-season deficiencies or supplement nutrients applied to the soil. According to Michigan State University, liquid fertilizer use in Michigan has steadily increased over the last 50 years. They accounted for roughly half of the market in 2018 because of their ease of handling and application. A custom blend and greater uniformity in application rate can be achieved with liquids.

 

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The growth of the specialty fertilizers market in Europe is driven by well-established distribution networks of Key players

 

Agriculture in Europe is driven by the adoption of advanced technologies for farming and the introduction of regulations for innovative agricultural products. Most of the arable farmland in Europe is used for cereal production. There has been a significant utilization of controlled-release and water-soluble fertilizers for fruit and vegetable crops in this region for their effectiveness in reducing the application of nitrogen-based fertilizers.

 

Recently, Europe launched the new European Fertilizer Products Regulation EU 2019/1009 on July 16, 2022. The regulation aims to standardize quality, safety, and labeling requirements for all fertilizing products, support the Farm2Fork strategy, and replace its predecessor EU 2003/2003, which regulated mineral fertilizers. To reduce environmental degradation and align with the EU’s Green Deal, key companies such as ICL have launched a new control release technology in urea administration in Europe in 2022. The technology, “ego.x’’ claims to leverage biodegradable release technology to enhance nutrient use efficiency by 80% and reduce nutrient losses to the environment by 50%. It is further claimed to help provide higher or similar yields with reduced frequency and fertilizer usage. The development is expected to help the European farmers who faced an average production decline of 10-20%. The European strategy, launched in mid-2020, aims at minimizing the environmental footprint of the agriculture industry by reducing fertilizer losses by at least 50% and reducing overall fertilizer use by at least 20% by 2030.

 

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 C Nutrien Ltd. (Canada), Yara (Norway), ICL (Israel), The Mosaic Company (US), CF Industries and Holdings, Inc. (US), Nufarm (Australia), SQM SA (Chile), OCP Group (Morocco), Kingenta (China), K+S Aktiengesellschaft (Germany), OCI Nitrogen (Netherlands), EuroChem (Switzerland), Coromandel International Limited (India), Zuari Agro Chemicals Ltd. (India), and Deepak Fertilizers and Petrochemicals Corporation Limited (India).

Pesticide Inert Ingredients Market to Showcase Continued Growth in the Coming Years

The pesticide inert ingredients market is projected to grow at CAGR of 6.14% from USD 3.5 billion in 2018 to 4.7 billion during the forecasted year of 2023. The pesticide inert ingredient is added to the active ingredients to formulate the pesticide final product. When the inert ingredient is added to the formulation, it modifies the surface tension between pesticide spray drops and plant leaf surface to achieve better wetting, distribution, and penetration quality, resulting in an enhanced pesticide effect. The effectiveness of a pesticide increases manifolds with the addition of inert ingredients. The global market for pesticide inert ingredients is projected to grow at a steady rate, and the growth of the market is highly dependent on the requirement of crop protection products for improving the quality of crops. 

 

 

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The inert ingredients of a pesticide product potentially constitute up to 99% of the pesticide formulation and have been a confidential composition and therefore withheld by most of the pesticide manufacturers on their labels. According to the National Center for Biotechnology Information (NCBI), inert ingredients have been legally kept hidden from public view despite their toxic nature; the primary factor was to protect industry trade secrets. However, the US regulatory authority, Environmental Protection Agency (EPA) has been working toward policy changes, which requires 100% disclosure of a pesticide product’s ingredients. The major issue with pesticides and the inert ingredients is associated with its handling and environmental degradation, which in turn, gives rise to the development of major technologies such as microencapsulation. The advent of microcapsules as a type of inert ingredient results in better handling of toxic active ingredients and also controls the optimum release of pesticides. Technological advancements in inert ingredients for pesticide formulations are inevitable to succeed in the biological agrochemicals industry. This is projected to encourage the adoption of the microencapsulation technology in the crop protection industry, which has proven effects on the target. These factors are projected to impact the overall pesticide inert ingredients market with its rapid growth rate.

 

On the basis of type, the carriers segment is projected to witness the highest growth from 2018 to 2023, due to high demand for pesticide inert ingredients, which can help in the efficient application of pesticide products on the crops. Although emulsifiers account for the largest share in the market due to their efficacy to form emulsions that help in the formulation of water-oil-based pesticides, the carriers segment is estimated to be the fastest-growing market. The use of pesticides may kill non-target pests due to the inefficacy of pesticide application; this can be overcome through the use of carrier inert ingredients. Due to this factor, the carrier segment is estimated to record the highest CAGR during the forecast period.

 

The steady increase in market demand for organic fruits and vegetable has led to a gradual shift from synthetic products to bio-based products across the supply chain of the pesticide industry, which includes every constituent that is organically sourced. The pesticide products are made of active as well as inert ingredients. Thus, to make the products organic, it is required to formulate these with materials, which are non-toxic or mildly toxic in nature. There are many companies including AstroBio and Chem21, which are producing bio-based solvents such as bio-ethanol, limonene, and 2-methyl tetrahydrofuran (2-MeTHF) for their usage in various industries. This creates an opportunity for major players of agrochemical industries to develop bio-based inert ingredients and term the formulated pesticide appropriate for organic use and meet with the growing demand in the market.

 

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On the basis of region, Asia Pacific is estimated to be the fastest growing market during the forecast period. Agriculture is one of the largest industries in the Asia Pacific region, with a large share of farmland and good soil fertility. Moreover, the region is rich in plant diversity due to the wide variations in climate across the countries. The major players in the global market are focusing on expanding into the market to explore the untapped potential, due to which the investments in the agriculture industry from the public sector are declining. The Asia Pacific region is one of the leading consumers of pesticides across the globe, though the region heavily depends on imports for pesticide supply. Since inert ingredients are majorly consumed by pesticide manufacturers at the production facility during the formulation stage, and since countries such as India, Thailand, and Vietnam depend on imports for formulations, the market for inert ingredients is smaller compared to the Americas and Europe. However, with the increasing establishment of production plants in the Asian countries, the use of inert ingredients along with pesticide application would increase in the future.

Probiotic Ingredients Market to Showcase Continued Growth in the Coming Years

The probiotic ingredients market was valued at USD 268 million in 2018 and is projected to reach USD 402 million by 2023, at a CAGR of 8.5% from 2018 to 2023. The global demand for probiotic ingredients is increasing significantly due to the growing awareness among customers about its direct relation to digestive health benefits, the rising demand for high-nutrient foods, and the increasing demand for quality feed products. Scientists engaged in the bioengineering of probiotic strains are manipulating the genes of the strains to improve the tolerance of the microorganisms against pathogens, thereby aiding in improving the functional properties of conventional strains. Probiotic strains are projected to witness an increasing demand due to their stabilizing effect on the digestive system and its growth promoting potential. It also finds application as an immunity booster and could prove beneficial for reducing stress levels in end users. The Asia Pacific region is projected to hold the largest market due to the natural predisposition among consumers in this region for taking supplements. The ban on the use of antibiotic growth promoters (AGPs) due to its adverse health effects on animals and humans is also driving the demand for probiotics as well as probiotic strains and is projected to present opportunities to the existing and new market entrants. 

 

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Probiotic ingredients market, on the basis of application, mainly constitutes of four segments – functional foods & beverages, animal nutrition, pharmaceuticals, and others, which include cosmetics and personal care. The demand for probiotic ingredients is driven by the increased focus among consumers on purchasing healthy food. Some of the common functional foods that contain probiotic strains are fresh and fermented milk, yogurt, and cheese. Increasing number of dairy and non-dairy products are witnessing the increased application of probiotic strains in functional foods such as granola bars, frozen yogurt, cereals, and juices.

 

The probiotic ingredients market, by source, is segmented into bacteria and yeast. Yeast segment is estimated to be faster growing since it is relatively cheap, stable, and more robust. The bacterial segment is estimated to hold the larger market share as it has more health benefits associated with it. Also, the number of bacterial strains available for application as probiotic strains is more compared to yeast.

 

The ban on the antibiotic growth promoters in feed, increasing demand for probiotics in developed economies, and the increased awareness among livestock farmers are some of the opportunities in this market. The participation of government bodies such as Probiotics Association of India, Indonesian Society of Scientific Association for Probiotic and Prebiotic, European Scientific League for Probiotics, European Food and Feed Cultures Association, Dairy Research Centre at University of Laval in R&D of probiotics and increasing global demand for superior-quality feed products are some factors that are driving the market for probiotic ingredients.

 

The major players in the industry are focusing on expanding their business through agreements, product launches, and partnerships in the arena of probiotic strains, to meet the growing consumer demand for them to be applied in functional foods and pharmaceutical end products.

 

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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.

Animal Disinfectants Market to Showcase Continued Growth in the Coming Years

The report "Animal Disinfectants Market by Application (Dairy Cleaning, Swine, Poultry, Equine, Dairy & Ruminants, and Aquaculture), Form (Liquid and Powder), Type (Iodine, Lactic Acid, Hydrogen Peroxide), and Region- Global Forecast to 2027", size is estimated to be valued at USD 3.2 billion in 2022. It is projected to reach USD 4.6 billion by 2027, recording a CAGR of 7.6% during the forecast period. The growth of the animal disinfectants market is attributed to the increasing trade of sanitation amidst this COVID-19 pandemic and increasing demand for meat and other animal products among countries such as Mexico, Brazil, Argentina, the UAE, India, and China. Animal disinfection is a technique that involve cleaning both the animals such as swine, equine, ruminants, poultry, and fishes and the surfaces to guarantee that microbial and other illnesses do not affect the animals or enter the food chain through the production process at the facilities. The animal disinfectants market is witnessing significant growth due to the increasing consumption of meat products in developing countries such as India, China, South Africa, and Brazil, compelling manufacturers to increase production.

 

 

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By type, the iodine segment is estimated to account for the largest share in the animal disinfectants market in 2022.

 

On the basis of product type segment, the iodine segment is estimated to dominate the animal disinfectants market in 2022. In recent years, China is being observed as an emerging country in the animal disinfectants market due to the increasing awareness in sanitation and increasing livestock production. For effective cleaning and disinfection, manufacturers use chemicals such as lactic acid, glycolic acid, phenolic acid, hydrogen peroxide, peracetic acid, and iodine in various chemical disinfection. However, the use use of iodine has dominated the use of all other compounds owing to its easy availability and wide applicability.

 

By application, dairy cleaning segment is projected to be the fastest-growing segment during the forecast period in the animal disinfectant market

 

During the forecast period, the dairy cleaning segment is projected to grow at the highest CAGR in the animal disinfectants market, in terms of value. Disinfectants are widely used in the dairy industry for cleaning dairy equipment. The cleaning of dairy cattle involves removing equipment and bedding before cleaning. The nature of the surfaces will influence the disinfection process. Rough and porous surfaces are difficult to disinfect in comparison to smooth surfaces. Both the milking parlor and milking machines must be cleaned daily to ensure more hygienic products.

 

The Europe is estimated to dominate the animal disinfectant market in 2022

 

The Europe is estimated to account for the largest market share in the animal disinfectants market in 2022. The disinfectant industry in Europe offers the animal disinfectants market a large consumer base with opportunistic growth prospects. The growth of this market in the region is projected to be driven by developments in the livestock and meat industry in the Eastern European countries. Increasing consumption of meat products in this region has also compelled manufacturers to source and export of animal disinfectants to other parts of the world for an uninterrupted supply of advanced disinfectants.

 

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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 Neogen Corporation (US), GEA (Germany), Lanxess AG (Germany), Zoetis (US), Kersia Group (France), CID Lines (Belgium), Albert Kerbl GmbH (Germany), PCC Group (Germany), Laboratoires Ceetel- CMPC (France), G SheperdAnimal Health (UK), Sanosil AG (Switzerland), DeLaval Inc. (Sweden), Diversey Holdings Ltd. (US), Fink Tec GmbH (Germany), Evans Vanodine International PLC (UK), Virox Animal Health (Canada) and Kemin Industries (US)

Coconut Oil Market to Showcase Continued Growth in the Coming Years

The global coconut oil market is estimated to be valued at USD 5.4 billion in 2022. It is projected to reach USD 7.5 billion by 2027, recording a CAGR of 5.5% during the forecast period. Coconut oil is a yellowish-white solid or semi-liquid available in the form of edible oil. It is extracted from the wick, meat, and milk of the coconut palm fruit and has a low percentage of unsaturated fatty acids and is up to 90% saturated fat with no cholesterol content. The types of coconut oils available in the industry can be classified as RBD, virgin, and crude serving various applications in the field of food & beverages, cosmetic, pharmaceuticals and many others.

 

 

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Key players in this market include Cargill (US), Archer Daniel Midlands Company (US), Bunge Limited (US)

 

Cargill is engaged in the manufacturing and marketing of food ingredients, risk management, agricultural products, financial and industrial products, and services worldwide. The company covers 75 businesses under its four major categories: food ingredients & application, animal nutrition & protein, origination & processing, and industrial & financial services. The company offers coconut oil under the food ingredients & application segment. Cargill functions in 70 countries through its subsidiaries and affiliates. The subsidiaries through which Cargill works include The Mosaic Company (US), NatureWorks LLC (US), and The Wilbur Chocolate Company (US).

 

Archer Daniel Midlands Company (ADM) Archer Daniels Midland Company (ADM) is primarily engaged in producing food ingredients, animal feed & feed ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company operates through four business segments: agriculture services and oilseeds, carbohydrate solutions, nutrition, and others. ADM offers coconut oils under its food & beverage solutions segment. Coconut oil from ADM offers a great-tasting, fast melting option with various uses as it contains medium-chain fatty acids found in medium-chain triglycerides (MCT). The company consists of more than 800 plants, 321 food & feed processing facilities, 61 innovation centers, and 449 crop procurement locations globally. It has an extensive transportation network to procure, store, clean, and transport agricultural commodities.

 

Bunge Limited is a leading global agribusiness and food company with integrated operations that stretch from farmer to consumer. The company has divided its business into five segments, namely, agribusiness, refined and specialty oils, milling, sugar and bioenergy, and plant proteins. The refined and specialty oils segment comprises businesses that sell vegetable oils and fats, including oils shortenings, margarine, mayonnaise, and specialty ingredients. The company offers coconut oil under the refined and specialty oils segment. Bunge Limited has more than 300 port terminals, oilseeds processing plants, grain facilities, and food and ingredient production and packaging facilities around the world.

 

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North American coconut oil market is completely driven by the US market. The US coconut oil industry has witnessed technological advancement, which has increased its usage in various industries. In the US, coconut oil is primarily used in organic form in the confectionery products a s a health beneficial. It is also used as a base for gelling agents in confections, for thickeners in products such as pastry and pie fillings, and in instant puddings. The growing trend of ready-to-eat meals and processed food is also driving the coconut oil market in the region. Coconut oil is frequently used in food applications due to its functional properties.

Biofertilizers Market to Showcase Continued Growth in the Coming Years

The global biofertilizers market size is estimated to be valued at USD 2.6 billion in 2021 and is expected to reach a value of USD 4.5 billion by 2026, growing at a CAGR of 11.9% in terms of value during the forecast period. Factors such as growth in the organic food industry, increasing usage of biofertilizers in ranch and private firms, are some of the factors driving the growth of biofertilizers.

 

 

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Key players in this market include Novozymes A/S (Denmark), Vegalab SA (Switzerland), UPL Limited (India), Chr. Hansen Holding A/S (Denmark), Kiwa Bio-Tech (China), Lallemand Inc. (US), Rizobacter Argentina S.A. (Argentina), T. Stanes & Company Limited (India), IPL Biologicals Limited (India), Nutramax Laboratories Inc. (US), Symborg (Spain), Kan Biosys (India), Mapleton Agri Biotech Pty Ltd (Australia), Seipasa (Spain), AgriLife (India), Manidharma Biotech Pvt Ltd (India), Biomax Naturals (India), Jaipur Bio Fertilizers (India), Valent BioSciences (US), Aumgene Biosciences (India), Agrinos (US), Criyagen (India), LKB BioFertilizer (Malaysia), Varsha Bioscience and Technology India Pvt Ltd. (India), and Valagro (Italy).

 

New product launches, expansions, investments, acquisitions, and collaborations were the key strategies adopted by the leading players in the biofertilizers with a view to improve their product line and presence in the market.

 

Novozymes A/S (Denmark) is a global biotechnology company that is primarily engaged in the production and marketing of enzymes, microorganisms, and biopharmaceutical ingredients. The company manages its business through two major segments: enzymes and bio-business. The company has over 700 products which are used in 130 countries.

Novozymes operates globally through its subsidiaries and partnerships with other companies. It carries out its operations in a number of countries around the world, including China, India, Brazil, Argentina, the UK, the United States, and Canada. The company sells biofertilizers products through its subsidiary, Monsanto BioAg (US). The major subsidiaries of the company are Novozymes Japan Ltd (Japan), Novozymes Biologicals Inc. (US), Novozymes Biologicals Limited (Canada), Novozymes Australia Pty Ltd (Australia), Novozymes South Asia Pvt. Ltd India), and Novozymes Spain S.A. (Spain).

 

Lallemand, Inc. (US), is a privately held company that focuses on the development, production, and marketing of yeasts and bacteria. Its chief business groups are animal nutrition, banking, bio-ingredients, biofuels & distilled spirits, oenology, plant care, brewing, health solutions, manufacturing services, and pharma. Lallemand Plant Care, a part of the company, is committed to producing and supplying fungal, bacterial, and yeast biocontrol products, biofertilizers and biostimulants for application in forestry, agriculture, horticulture, turf management and consumer gardening.

 

The company conducts its plant care business through its VerderaQy (Finland) and ITHEC (France) subsidiaries. It has strong research facilities and analysis services, including a wide range of analysis and diagnosis of plant pathogens and other pests to develop new biocontrol products. Lallemand has its geographical presence in South America, North America, Europe, southern Africa, and the Asia Pacific region. Lallemand Animal Nutrition (UK) and Lallemand Plant Care (Canada) are its few subsidiaries.

 

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The imposition of bans on the usage of harmful chemicals and fertilizers in the agricultural industry by governments in North American countries has created a high growth potential for biofertilizers. In addition, the increase in acceptance of organic foods among consumers is projected to widen the scope of growth for leading players. With the increase in inclination toward organic cultivation in the region, the growth of the biofertilizers market is projected to remain high. As per the USDA and Department of Energy (DOE), the increase in the availability of biomass feedstock is also one of the key factors driving the market growth.

Food Enzymes Market to Witness Unprecedented Growth in Coming Years

The global food enzymes market is estimated to be valued at USD 2.2 billion in 2021 and is projected to reach USD 3.1 billion by 2026, recording a CAGR of 6.4%, in terms of value. The demand for food enzymes is increasing significantly, as they are used widely across various food & beverage applications due to its functional properties.

 

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Key players in this market include DuPont (US), Associated British Foods plc (UK), DSM (Netherlands), Novozymes (US), CHR. Hansen (Denmark), Kerry Group (Ireland), Jiangsu Boli Bioproducts Co., Ltd. (China), Biocatalysts Ltd. (UK), Puratos Group (Belgium), Advanced Enzyme Technologies Ltd (India), Amano Enzyme Inc. (Japan), Enzyme Development Corporation (US), ENMEX, S.A. de C.V. (Mexico), Enzyme Bioscience Private Limited, Aumgene Biosciences (India), Creative Enzymes (US), SUNSON Industry Group Co., Ltd (China), AUM Enzymes (India), Xike Biotechnology Co. Ltd. (China), and Antozyme Biotech Pvt Ltd (India).

 

Novozymes (Denmark) is a major bio-innovation company providing biological solutions, which involves the application of enzymes and microbes. The company offers various products, which cater to industries, such as household care, food & beverage, bioenergy, agriculture & feed, and technical & pharma. Novozymes has been introducing new products for making its product portfolio diverse. In addition, the company is focused on expanding its global presence to prosper in the food enzymes market. Currently, it has been catering to all the major regions, such as North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa. It focuses on innovation activities to identify new opportunities in the food enzymes market. For instance, in May 2019, Novozymes announced the launch of a new enzymatic solution for the Chinese corn milling industry "Frontia Jade" targets ‘wet milling’, which is the first step in the starch conversion process. The product helps mills achieve better starch yields while reducing energy consumption and costs.

 

DuPont is a world-class multi-industry specialty solutions company with large global businesses aligned with growing, attractive end markets. It offers a wide range of food enzyme products under their “nutrition and biosciences” division. “Danisco” is the company’s major brand under which DuPont offers numerous quality food enzyme solutions. Their products enhance food freshness, optimize production, add texture, ensure quality, and reduce costs of the overall food products in the end-use sectors, such as dairy, confectionery, bakery, meat, and beverages.

 

DuPont has a strong market position in the global markets and has also established a strong distribution network. It is identified as a star player in the global food enzymes market. The company undertook a merger with International Flavors and Fragrances Inc. (US) in 2021, which has further strengthened its product portfolio for food nutrition solutions. With the merger of IFF and Danisco, Danisco has been able to offer innovative solutions across various regions. In April 2021, IFF (a part of DuPont) announced the launch of Nurica enzyme in China, offering a new solution for dairy producers to create a premium product to fulfill consumer health needs while increasing profitability. Nurica is IFF’s latest innovation for the Chinese market and is marketed under the Danisco range of food ingredients.

 

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The food enzymes market in North America was dominant due to the increasing demand for enzymes in food applications. Technological innovations in machinery, optimization of production, logistics, and globalization of business have made the food & beverage industry one of the essential sectors in North America. However, the shift of food operations from developed regions, such as North America and Europe, to Asia Pacific, has further contributed to the growth of the food enzymes market in the Asia Pacific region.