Agricultural Sprayers Market to Showcase Continued Growth in the Coming Years

The Agricultural Sprayers Market is projected to reach USD 3.5 billion by 2027, recording a CAGR of 6.8% during the forecast period. It is estimated to be valued at USD 2.5 billion in 2022. Farming equipment are essential to enhance crop yield and cut down the labor cost. Over the past few years, agricultural sprayers have become important for farmers for spraying fertilizers, as well as other chemicals such as herbicides and pesticides during the harvest time as per the need. Technological developments permit farmers to apply chemicals in an effective manner. Therefore, the market for agricultural sprayers has gained a momentum because change in farming techniques and technological adoption. The global market can be classified based on type, farm size, nozzle type, power source, capacity, crop type, usage, and region.

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Driver: Growing focus on farm efficacy to increase yield

Farmers or growers are not only faced with different challenges associated to farm functions but also various market challenges. Some of the market challenges include fluctuating prices, uncontrollable weather conditions, finding buyers for their product, and lack of natural resources. The newer technology versions of agricultural sprayers have provided various benefits to the farmers, such as low cost, increased spray efficiency, safety, and less damage to the crops and environment. This is substantially increasing the demand for agricultural sprayers in the global market.

Restraint: High capital investment is needed for technologically-advanced farm equipment

New farming technologies such as GPS, drones, and GIS to collect input data, variable rate technology, and satellite devices are expensive as compared to other non-tech devices and need huge capital investment. The majority of the farmers are marginal farmers or small landholding farmers who find it difficult to invest in expensive equipment. This restraint is particularly high in developing countries such as India, China, and Brazil. Currently, most developing countries are importing farming equipment from other countries, which increases the product cost, which in turn expected to lower the market growth of agricultural sprayers in near future.

The cereals segment holds the largest market share in the global agricultural sprayers market

The cereals segment comprises corn, rice, wheat, barley, and other cereals & grains. The use of agricultural sprayers helps farmers cover larger farm sizes and protect crops, resulting in higher crop yield. Agricultural sprayers involve high demand from cereal producers to increase crop yield. The market for agricultural sprayers is expanding as a result of the growing demand for grains and cereals in consumers' diets.

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Asia Pacific dominated the agricultural sprayers market, with a value of USD 932.2 million in 2021; it is projected to reach USD 1430.4 million by 2027, at a CAGR of 7.5% during the forecast period.

In developing countries, the markets for agri-food products are changing rapidly, becoming increasingly open and homogenized toward international standards. Acquiring technical know-how and financial resources to incorporate standards such as quality assurance, safety, and traceability is difficult to do as it marginalizes many small and medium farms and agro-enterprises. Adoption of Unmanned aerial vehicles (UAVs) in Australia, high dependency on agriculture in India, and increasing export of agricultural machineries in China are some of the important factors fueling the Asia-Pacific agricultural sprayers market growth in the near future.

Food Inclusions Market Growth Opportunities by 2027

The food inclusions market is projected to reach of USD 18.7 billion by 2027, recording at a CAGR of 6.9%. It was estimated to be valued at USD 13.4 billion in 2022. The changing dynamics, owing to the factors such as the changing consumer requirements, industrial investments, R&D, increasing stringency of food regulations, and greater urge among industry players to attain the market leadership position, have led to continuous innovations in product offerings by market players, which are aligned with consumer demand.

Food inclusions have enabled food & beverage manufacturers to improve organoleptic properties, especially in terms of flavor, taste, texture, and appearance. As a result, mass-marketed products and products such as oats and cereal specifically targeted at health-conscious consumers are gaining significant demand from consumers, owing to their inclusion content. The use of inclusion has also aided product manufacturers in adopting and continuing with their marketing strategies and positioning their products as "healthy" without violating the prevailing norms of food labeling.

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Opportunities: Product premiumization, functional food products, and resultant new product development to present growth opportunities

Premiumization of products is gaining global significance, with consumers increasingly willing to spend extra on premium products. The word "premium" is associated with the aspect of "quality" and "indulgence" along with other factors, such as "safety." Owing to this, consumers prefer to pay that little extra in mark-up price. As the trend of premiumization is on the rise, it presents an opportunity for growth in the range of premium products for food inclusion manufacturers. The category of functional food segments within premium products currently offers significant opportunities for growth in the consumption of food inclusions.

By application, the cereals products, snacks & bars segment is projected to dominate the food inclusions market in the forecasted period.

Food inclusions, with their ability to enhance organoleptic properties and nutritional profile, are ideal ingredients for addition in cereal products, snacks & bars, as they enhance product appeal. Consequently, inclusions are significantly consumed for use in products in this category, as their content has become the Unique Selling Proposition (USP) and core factor of product marketing.

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The Asia Pacific is estimated to be the fastest-growing region in the global food inclusion market in 2021. The Asia Pacific food inclusion market countries include China, India, Japan, Australia, New Zealand, and the Rest of Asia Pacific.

The immense growth in the processed food industry and the growing consumer demand for convenience food such as bakery products, breakfast cereals, and snack bars in food products are the major factors driving the food inclusion market growth. Other major factors that drive the food inclusion market growth are changes in consumer tastes and preferences, increasing population density and education level, increasing health awareness of the population, and rising economic status and living standard of people.

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 ADM (US), Sensory Effects (US), Barry Callebaut (Switzerland), AGRANA Beteiligungs-AG (Austria), Taura Natural Ingredients Ltd. (New Zealand), and Nimbus Foods Ltd (UK).

Frozen Food Market Projected to Garner Significant Revenues by 2025

The frozen food market size was valued at USD 244.3 billion in 2020 and is projected to reach a value of about USD 312.3 billion by 2025, at a CAGR of 5.0%. Developments in the retail landscape, rising demand for convenience food, and technological advancements in the cold chain market are the major driving factors for the market. On the other hand, the rising preference for fresh and natural food products is a restraining factor for the frozen food market.

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Drivers: Rising demand for convenience food

The increasing consumer preference toward convenience foods indirectly favors the increasing demand for frozen products as they require less time and effort as compared to cooking from scratch. The processed food market is driven by the greater need for convenience due to the busy lifestyles of consumers. This, in turn, increases the demand for frozen products. Increasing disposable income is also one such factor that has a huge influence on the growth of the frozen food market as it increases the buying power of consumers.

Restraints: Rising preference for fresh and natural food products

To some consumers, frozen food is thought of as a product that is an inferior substitute for fresh food, which is one of the major restraints for this market. There is a notion that food processed a year or more before it is consumed could not be nutritious. However, statements such as “frozen produce can be just as good as the fresh stuff in terms of nutrition” from the US Food and Drug Administration (FDA) and the International Food Information Council (IFIC) about the nutrient content of frozen food are changing the consumer perception. Nutrients such as vitamin C and folate can change with the change in temperature while food items stored at varying temperatures can lose their nutrients. Since frozen foods are stored at a constant low temperature, they do not lose such essential nutrients.

The convenient & ready meals segment is estimated to dominate the global market in 2020.

By product, the convenient & ready meals segment is estimated to dominate the global market in 2020. This is due to the changing and busy lifestyles of people, globally, which has increased the consumption of frozen foods, globally. Frozen foods are easy to prepare and take less time for preparation. They are healthy and have high nutritional value. Frozen food export business has also increased in recent times due to the high acceptance of these products among consumers and brand awareness among developing countries.

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Europe accounted for the largest share in the frozen food market

Europe accounted for the largest market share in the market. Population growth, rapid urbanization, and the rise in consumer awareness about the benefits of frozen food are the key factors driving the demand for frozen food in the region.

The key players in this market include General Mills Inc (US), Conagra Brands, Inc. (US), Grupo Bimbo S.A.B. de C.V. (Mexico), Nestle SA (Switzerland), Unilever (Netherlands), Kellogg Company (US), McCain Foods Limited (Canada), Kraft Heinz Company (US), Associated British Foods plc (UK), Ajinomoto (Japan), Vandemoortele NV (Belgium), Lantmannen Unibake International (Denmark), Cargill (US), Europastry S.A. (Spain), JBS (Brazil), Kidfresh (US), Aryzta (US), Kuppies (India), OOB Organics (New Zealand), Omar International Pvt Ltd (India), Bubba Foods (US), Shishi He Deming (China), and Smart Price Sales & Marketing (US), Chevon Agrotech Pvt Ltd (India), and Omar International Pvt Ltd (India).

Feeding Systems Market to Record Steady Growth by 2027

The Feeding Systems Market is projected to reach USD 3.9 billion by 2027, recording a CAGR of 7.7% during the forecast period . It is estimated to be valued at USD 2.7 billion in 2022. A feeding system allows a large number of animals to be fed in a short time so that each animal gets its portion of the allotted feed. The goal is for each animal to have an equal opportunity to eat an equal amount of feed simultaneously. A feeding system allows a large number of animals to be fed in a short time so that each animal gets its portion of the allotted feed. The goal is for each animal to have an equal opportunity to eat an equal amount of feed simultaneously.

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Opportunities: Rising demand for livestock monitoring services in automated feeding systems

To cater to the rising demand for better quality and quantity of milk and dairy products, livestock producers are increasingly using advanced approaches for animal feeding. This trend is expected to drive the demand for livestock monitoring products and technologies. Owing to the availability of advanced livestock monitoring technologies, developed countries are expected to continue to account for a larger share of the demand compared to developing countries across the Asia Pacific and South America. However, with the growing adoption of advanced technologies, the Asia Pacific and Latin American livestock monitoring markets are expected to grow at a higher rate compared to developed markets across North America and Europe.

Self Propelled Feeding Systems are in High Demand

Self-propelled feeding systems are the most advanced and flexible systems available in the market. Many dairy farms in North America have already adopted these systems because of various advantages associated with them compared to conventional feeding systems. Advantages of self-propelled feeding systems include flexible operation, a decrease in labor cost, and maximum feeding optimization.

Ruminant Segment Under the Livestock Category is Projected to Dominate the Feeding Systems Market

The ruminant species such as cattle, sheep, goats, and buffaloes are mainly reared for producing dairy and meat products in developing and developed countries. Feeding ruminants at the required time is necessary for enhancing digestion and production efficiency. It helps to improve the feed conversion and absorption and strengthens their immune system. Feeding systems help farmers to provide feed products that align with the requirements of ruminants and help in maintaining the health of a large herd. The consumption of beef has also increased in various regions such as North America and Europe.

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Europe is projected to account for the majority of share in the global feeding systems market during the forecast period

This region comprises major economies such as the UK, Germany, France, Italy, Spain, and the Rest of Europe. Europe is expected to offer a huge platform for the potential growth of the feeding systems market. The EU dairy sector is the second-largest agricultural sector in the region, representing more than 12% of the total agricultural output. Various innovations are done by companies over a period to help farmers. The European poultry meat sector follows production methods in compliance with the very strict EU rules applied throughout the production chain. The current standards in place for EU poultry meat are among the highest in the world, focused on continuing to improve production conditions in terms of resource conservation and animal welfare. This is one of the major reasons to adopt feeding systems so that farmers can monitor livestock health regularly, maintain hygiene, and feed regularly with an appropriate amount of nutrition.

The key players in this market include DeLaval (Sweden), GEA Group Aktiengesellschaft (Germany), Lely (Netherlands), Trioliet B.V. (Netherlands), VDL Agrotech (Netherlands), ScaleAQ (Norway), BouMatic (US), Pellon Group Oy (Finland), Rovibec Agrisolutions (Canada), CTB, Inc. (US), Afimilk Ltd. (Israel), Dairymaster (US), Maskinfabrikken Cormall A/S (Denmark), and JH AGRO A/S (Denmark).

Biological Seed Treatment Market to Witness Unprecedented Growth in Coming Years

The biological seed treatment market is projected to reach USD 1.7 billion by 2025, and it was valued at USD 0.9 billion in 2020. It is expected to grow with CAGR of 11.9%. The market is influenced by the adoption of sustainable agricultural practices, along with strong investments being made by major market players in the research and development of these products. The agricultural and environmental benefits associated with these biological seed treatment solutions are the major factors contributing to the growth of this market globally. Beneficial microorganisms and plant extracts are projected to act as important tools that could help reduce the usage of synthetic fertilizers and chemical pesticides, thereby reducing the investments by farmers and environmental risks.

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The demand for biological seed treatment has significantly increased as a result of high awareness of their potential and the growing attention to the environmental and health risks associated with conventional chemicals. Chemical seed treatments are detrimental to the environment and pose a serious risk to pollinators. The neonicotinoid class of insecticides is considered highly toxic to honeybees. Microorganisms employed as active substances in pest management are recognized as generally safe for the environment and non-target species, in comparison with synthetic chemicals.

The Microbial segment is projected to be the largest and fastest growing type of biological seed treatment market during the review period, in terms of value.

The biological seed treatment is categorized into two types namely microbial and botanicals. The microbial segment accounted for the largest share in the global biological seed treatment market due to the higher demand for biofungicides and bioinsecticides. These microbial seed treatments is carried out by beneficial microorganisms which can reduce the fertilizer and pesticide applications and increases the yields, with economical price.

Fastest-growing segment by function: Seed protection segment

On the basis of function, the global market has broadly been segmented into seed enhancement and seed protection. Biological seed treatments aimed at seed protection provide targeted control of certain pests and fungal diseases during the early seedling stage. Biological seed treatments are used on multiple crops to control a variety of pests. It ensures uniform stand establishment through defense against numerous soil-borne pathogens and insects.

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North America region’s increasing preference for high quality produce

The increasing agricultural practices and requirement of high-quality agricultural produce are factors that are projected to drive the biological seed treatment market growth in this region. The government policies adopted by developed countries for the ban on key active ingredients are the major factors encouraging the growth of this market in North America region. Hence, North America is projected to be the fastest-growing region in the global market. RD investments for the development of biological seed treatment and installation of new production capacities by key players are projected to drive the market growth in the next five years.

Key players in this market include BASF SE (Germany), Bayer AG (Germany), Novozymes A/S (Denmark), Syngenta Group (Switzerland), Corteva Agriscience (US),  Valent BioSciences (US), Verdesian Life Sciences (US), Plant Health Care (US), Precision Laboratories (US), Koppert Biological Systems (Netherlands), and Italpollina (Italy).

Rodenticides Market Will Hit Big Revenues In Future

The global Rodenticides Market is predicted to experience a 5.8% compound annual growth rate, leading to a revenue surpassing USD 7.1 billion by 2027. This thriving industry, valued at USD 5.4 billion in 2022, is on a path of substantial growth. The rising concern for environmental pollution and public health hazards posed by vector-borne diseases is fueling the global demand for rodent control services. The growing population, coupled with the overexploitation and degradation of limited resources, is contributing to the degradation of the ecosystem, leading to global warming and temperature rise. These factors, in turn, are indirectly strengthening pests' ability to survive in different seasons, as evidenced by the migration of tropical pests away from the equatorial region due to global warming.

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Drivers: Displacement of rodents due to urbanization

Urbanization is one of the key factors encouraging land use, particularly in developing countries, where 90% of the people are expected to be residents of urban areas. Moreover, urbanization is expected to impact public health due to the shift of rural pathogens adapting to the urban environment and increasing their number.

According to an article by Rentokil, it has been observed that the construction of new buildings is increasingly displacing the rat population across regions. As per the report by Building and Construction Authority (BCA), the need for construction in the country is increasing. Some construction activities in rural areas disturb the nesting area of rodents, such as rats, and thus encourage them to relocate to another urbanized location.

According to a recent article posted in Frontiers, Norway, black rats are considered the urban rats that inhabit cities worldwide. They adapt to environmental changes caused by humans and thus survive easily. Hence, the increase in the levels of urbanization creates the need for rodent control, majorly in the urban areas of developing regions.

Opportunities: Increase in demand for rodent pest control services from the hospitality and tourism sectors

With the growing interest in recreational activities and aesthetics among consumers, the demand for maintenance services to control rodent pests and their possible damages are the key factors that are projected to drive the market growth for rodenticides shortly. The entertainment sector, warehouses, construction companies, the food service segment, pharmaceutical companies, and the hospitality sector play an important role in encouraging the demand for pest control products & services, particularly for rodents. The economic losses due to the damages caused by pests, such as rodents, affect the tourism industry. The growth of the hospitality and entertainment sectors in urban areas due to the high purchasing power among consumers has driven the demand for rodent control products.

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The Asia Pacific region is projected to witness the highest growth rate in the rodenticides market, with a value of USD 1.1 billion in 2021; it is projected to reach USD 1.6 billion by 2027 at a CAGR of 6.5% during the forecast period.

The Asia Pacific region is among the fastest-growing markets for rodenticides. The high concentration of urban population poses a high growth potential for rodent control service providers. The effects of climatic changes and, in some instances, the negligence toward sanitary conditions in urban slums have resulted in multiple disease outbreaks. Improvements in legislation and policies surrounding the requirement of pest control have benefitted rodenticides manufacturers in the Asia Pacific region.

A majority of Asian countries are adopting mechanical modes of rodent control. However, due to the increased awareness of the effectiveness of chemical rodenticides, the market is projected to witness higher growth in the region. According to the rodent distribution map provided by National Geographic, the rodent population is concentrated in a few countries, such as China and India. With the growing epidemics in these countries, eradicating the rodent population is of prime importance. Government initiatives supporting public hygiene are one of the major factors encouraging the growth of the rodenticides market in the Asia Pacific.

Factors Driving the Agriculture Adjuvants Market

According to a research report"Agriculture Adjuvants MarketFormulation (Suspension Concentrates, Emulsified Concentrates), Adoption Stage (In-Formulation, Tank Mix), Function (Activator Adjuvants, Utility Adjuvants), Application (Insecticide), Region - Global Forecast to 2028"published by MarketsandMarkets, the global agriculture adjuvants market will grow from USD 3.8 billion in 2023 to USD 4.8 billion by 2028, growing at a CAGR of 4.7% during the forecast period. Farmers are increasingly looking for ways to improve the efficiency of crop protection programs reduce the environmental impact. Adjuvants boost the performance of pesticides and fertilizers by increasing their efficacy, coverage, and retention, thus making farming more sustainable by reducing the number of chemicals used. The need for increased food production and sustainable crop protection through agricultural adjuvants is growing.

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The cereals grains crop type segment held the largest market share in the agricultural adjuvants market in 2022

Agricultural adjuvants play an essential role in agricultures cereal and grain segment. According to FAO, in 2022/23, global cereal production stood at 2,786.6 million tons, with wheat contributing 800.9 million tons and rice 516.9 million tons of production. With the growing production and demand for cereals grains, the utilization of agricultural adjuvants is growing. Celeral grains are consumed as a staple food in most countries worldwide, and protecting these crops from weather, pests, and weeds requires agricultural adjuvants. This is increasing the demand for agricultural adjuvants in cereals grains.

Tank-mix adjuvants are in the fastest-growing adoption stage in the agricultural adjuvants market.

Adjuvants are added separately into the spray tank, and pesticides or herbicides are known as tank-mix adjuvants. Tank-mix adjuvant ensures high performance, drift reduction, improved spray coverage, and increased absorption into the target crops. The farmers are increasingly using tank-mix agricultural adjuvants as they can customize and adjust on a case-to-case basis. Customization ensures desired performance characteristics while treating the targeted pest or weed; hence, the demand has been accelerating.

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North America held the largest share of the agricultural adjuvants market in 2022

The demand for agriculture adjuvants in North America is witnessing significant growth due to several key factors. The cultivation of industrial crops such as corn and soybean has been gaining pace in North American countries, driving the agricultural adjuvants market growth. According to the United States Department of Agriculture (USDA) reports, in 2022, the US produced 13.7 billion bushels of corn and 4.28 billion bushels of soybean. Though the production of both these crops fell in 2021, the consumption of agricultural adjuvants is growing in the region at a significant pace.

Major players operating in the agricultural adjuvants market include Corteva Agriscience (US), Evonik Industries AG (Germany), Croda International Plc (UK), Nufarm Limited (Australia), Solvay SA (Belgium), BASF SE (Germany), Huntsman International LLC. (US), Clariant AG (Switzerland), Helena Agri-Enterprises, LLC (US), WILBUR-ELLIS AGRIBUSINESS (US), Precision Laboratories, LLC (US), and CHS Inc. (US).

Sustainable Growth Opportunities in the Dairy Testing Market

The dairy testing market is expected to experience substantial growth in the coming years, with a projected value of USD 8.1 billion by 2026 and a CAGR of 8.2%. This market was estimated to be worth USD 5.5 billion in 2021. Food testing includes all types of foods from plant and animal sources. Dairy testing is an application in food testing that deals with the safety and quality of milk and other dairy products.

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According to Food and Agriculture Organization (US), more than six billion people worldwide consume milk and dairy products. Testing plays an important role in ensuring that end consumers have access to safe and high-quality milk and dairy products free from harmful pathogens, heavy metals, dioxins, and adulterants. Dairy testing also helps manufacturers adhere to regulatory requirements for permissible limits of contaminants, labeling laws, prevention of fraudulent practices, and avert incidents of foodborne diseases, toxicity, or poisoning.

Opportunities : Technological advancements in testing industry

The focus on reducing lead time, sample utilization, cost of testing, and drawbacks associated with several technologies have resulted in the development of new technologies in spectrometry and chromatography. The wide-scale adoption of these technologies provides an opportunity for medium- and small-scale laboratories to expand their service offerings and compete with large market players in the industry, as these technologies offer benefits such as higher sensitivity, accurate results, reliability, multi-contaminant, and non-targeted screening with low turnaround time.

The dairy testing market is witnessing several technological innovations with major players offering newer, faster, and more accurate technologies such as LC (Liquid Chromatography), HPLC (High Performance Liquid Chromatography), and ICP-MS (Inductively Coupled Plasma Mass Spectrometry).

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The increasing demand for dairy testing in Europe is driving the growth of the dairy testing market.

Europe has the world’s most stringent regulations for dairy testing, which undergo frequent updates and revisions. The world’s highest number of sample tests for both safety as well as quality are conducted in Europe. Strict compliance with MRLs and measures to prevent microbial contamination are preconditions for entering the European market. Exporters aiming to export milk and dairy products to the EU are required to follow a strict set of guidelines. They need to be export registered and listed with the EU (they require an AA or approved arrangement, which is a food safety document that describes how an organization manages its food safety and quality).

The increasing dairy trade between Europe and other regions is also driving the dairy testing market in this region as more dairy samples are being tested, both for import as well as export. Europe has one of the highest food safety standards in the world, due to which cases of milk fraud are rare. The Rapid Alert System for Food and Feed Safety provides information when risks to public health are detected in the food chain.

The key players in this market are SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas (France), ALS Limited (Australia), and TÜV SÜD (Germany).

Growth Opportunities in the Coconut Oil Market

The report "Coconut Oil Market by Product Type (RBD, Virgin, and Crude), Source (Dry Coconut and Wet Coconut), Application (Food Beverages, Cosmetics Personal Care Products, and Pharmaceuticals), Nature and Region - Global Forecast to 2027", is estimated to be valued at USD 5.7 billion in 2022. It is projected to reach USD 7.4 billion by 2027, recording a CAGR of 5.5% during the forecast period. The global coconut oil 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. With the rise in demand and preference for natural cosmetic ingredients, the trend of clean-label and plant-based products has significantly boosted the utilization of coconut oil derivatives in the food industry. Coconut oil is used as a thickener and binder, and this enhances its properties, such as smoothness, hardness, gloss, and whiteness.

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Pharmaceutical market is a relatively untapped and small market in comparison to other non-food applications and the rapidly growing food beverage market.

Coconut oil is used as one of the components of cosmetic ingredient, majorly as a smoothening agent and as a source of smooth skin and to improve the dryness of skin and hairs. Companies are focusing on the development of extraction and processing of coconut oil to discover new beauty applications. Coconuts are the primary source of coconut oil. Coconut oil in food and beverages acts as a cooking oil replacer in order to enhance the flavor. It is a source of carbohydrates, which helps in improving digestibility.

Increasing use of Coconut oil in bakery products

Coconut oil is gaining popularity in the US due to several health benefits offered by it; it helps in reducing weight, strengthening the immune system, preventing heart disease, and staving off dementia and Alzheimer’s disease. In the food industry, coconut oil is used extensively in baked products, processed foods, and infant formulas. The use of organic coconut oil in the bakery coupled with the increasing growth of the bakery industry is projected to propel the demand for coconut oil.

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North America is expected to be the third largest market during the forecast period.

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.

The key players in this market include Tate Lyle (UK), Emsland (Germany), Ingredion Incorporated (US), and Avebe (Netherlands).

Growth Opportunities in the Aquafeed Market

According to a research 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 2028" published by MarketsandMarkets, the aquafeed market is projected to reach USD 88.0 billion by 2028 from USD 61.8 billion by 2023, at a CAGR of 7.3% during the forecast period in terms of value. The global demand for aquafeed products is increasing due to several factors. Firstly, there is a growing population that requires a sustainable and efficient source of protein, and aquaculture provides a solution. Secondly, the decline of wild fish stocks has led to an increased reliance on farmed fish. Lastly, advancements in aquafeed technology have improved the nutritional value and efficiency of feeds, supporting the growth and health of aquaculture species.

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The soybean segment of the ingredients segment accounted for the largest share of the aquafeed market in 2023 in terms of value.

Soybeans are a rich source of high-quality protein, essential amino acids, and energy, making it a suitable replacement for fishmeal, which is limited and expensive. Moreover, soybeans are readily available and widely cultivated, ensuring a stable supply. Additionally, it is a sustainable alternative to marine-based ingredients, reducing pressure on wild fish stocks. Soybean's versatility allows for the formulation of nutritionally balanced and cost-effective aquafeed, contributing to its increasing importance in the aquaculture industry.

The dry segment within the form segment is projected to grow at the highest share of the aquafeed market from 2023 to 2028 in terms of value.

The demand for the dry form of aquafeed products is rising because when it is compared to other types of feed, such as wet or frozen feeds, dry form feeds have a longer shelf life and are simpler to handle and store. They are now more practical for distributors and farmers of aquaculture. Moreover, dry form feeds don't require specialized equipment or temperature control to be carried over large distances. This makes it possible to ship aquafeed products to far-off places. Additionally, specific nutritional content of dry form feeds can be created, enabling precise and controlled feeding procedures in aquaculture operations.

The fish segment of the species segment is estimated to grow at the highest rate in the aquafeed market.

Fish is the cheapest and most easily digestible animal protein. However, due to excessive exploitation of resources and pollution, the availability of fish in natural waters has declined considerably. This has resulted in the adoption of various methods to increase production. Fish farming and aquaculture in controlled conditions or under artificial settings have become an easier way to increase fish production and its availability for consumption.

The grower segment of the lifecycle segment is estimated to grow at the highest rate in the aquafeed market.

Essentially, as aquaculture production rises and more fish and prawns enter the grow-out stage, there is an increased demand for grower feeds. The demand for specialized feeds that meet the dietary needs of aquatic species in growth increases as aquaculture farms expand their operations. Furthermore, grower feeds are designed to support quick growth, greater disease resistance, and higher feed conversion ratios, all of which are crucial for increasing yields and profitability. To address the unique requirements of the aquaculture business at this level of production, the grower segment is expanding.

The amino acids segment of the additives segment is estimated to grow at the highest rate in the aquafeed market.

Amino acids, which are the fundamental building blocks of amino acids, are vital for the growth, development, and general health of aquatic animals. There is a rising understanding of the need to provide balanced and ideal nutrition to farmed fish and prawns as the aquaculture industry expands and intensifies. Lysine, methionine, and threonine are important building blocks in the formulation of feeds that satisfy the distinct dietary needs of numerous aquatic species at various stages of growth. These amino acids serve as building blocks for protein synthesis, promoting immune system health and reproductive efficiency.

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The Asia Pacific region accounted for the largest growing market, in terms of value, of the global aquafeed market in 2028.

Aquaculture thrives in the Asia Pacific region because of its large coasts, an abundance of water resources, and a temperate environment. These elements encourage the development and expansion of aquaculture farms, which increases the demand for aquafeed products. The nutritional quality and efficacy of feeds have been improved by advances in aquafeed technology and research, which have increased the growth rates, illness resistance, and overall productivity of aquatic animals raised for food. The demand for aquafeed products is being further fueled by regional aquafeed manufacturers' increased focus on creating customized feed formulations that address the unique nutritional needs of diverse aquaculture species.

The key players in this market includes  ADM (US), Cargill, Incorporated (US), Ridley Corporation Limited (Australia), Nutreco (Netherlands), Alltech (US), Purina Animal Nutrition (US), Adisseo (Belgium), Aller Aqua A/S (Denmark), Biomin (Austria), Biomar (Denmark), Norel Animal Nutrition (Spain), Avanti Feeds Limited (India), De Heus Animal Nutrition B.V. (Netherlands), Novus International (US), and Biostadt India Limited (India).

Precision Fermentation Market Growth Opportunities by 2030

The global precision fermentation market in terms of revenue was estimated to be worth USD 1.6 billion in 2022 and is poised to reach USD 36.3 billion by 2030, growing at a CAGR of 48.1% from 2022 to 2030. Increasing demand for protein worldwide, changing consumer tastes and preferences, and rising investments and innovations are some factors that deepen the focus on the protein industry. In recent years, substantial breakthroughs in the science of genetic engineering have enabled the cost-effective and sustainable reprogramming of microorganisms (synthetic biology) to create a wide range of specialized food protein constituents.

Some of the Prominent Key Players are:

• Perfect Day, Inc. (US)
• Impossible Foods Inc. (US)
• Geltor (US)
• The Every Co. (US)
• Motif FoodWorks, Inc. (US)
• MycoTechnology (US)
• Mycorena (Sweden)
• Eden Brew (Australia)

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Drivers: Growing adoption of vegan as well as meat-free lifestyles

According to the Food Revolution Organization survey in 2018, 50% of respondents supported the slaughterhouse ban. Furthermore, respondents confessed that they are uncomfortable with the ways the animals are treated in the food industry; therefore, consumers are shifting toward animal-free products. To fulfill the requirements of vegan consumers, manufacturers introduce various plant-based products in the market, which incorporate animal-free ingredients from various sources such as plants and microbes, thereby boosting the precision fermentation market. In major countries like the US and UK, a substantial increase in the population adopting vegan and meat-free lifestyles has been seen. Also, in 2018, it has been observed that the number of vegans in the US increased by 600% in the last three years as per the Food Revolution Organization.

Opportunities: Development of novel protein production systems

Identifying novel techniques for generating protein through targeted R&D and infrastructure investments will remain critical in capturing value, optimizing resources, and developing precision fermentation competitive advantages. Many innovative protein production systems are being scaled up and commercialized to develop animal-free meat and microalgae and utilize new and uncommon feedstocks such as CO2. These novel production systems are expected to gain importance as traditional food systems.

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The Asia Pacific region is projected to grow at the highest CAGR in the precision fermentation market during the forecast period

The key factors driving the Asia Pacific precision fermentation market are the changing lifestyles of consumers, the rapid growth of the middle-class population, and rising consumer awareness about health & fitness. Also, investments and expansions in the region drive the growth of the Asia Pacific market.

Japan Dietary Supplements Market to Grow at a CAGR 5.8% from 2023 to 2028

According to a research report "Japan Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function, Mode of Application, Target Consumer, Distribution Channel (Pharmacy, Supermarket/Hypermarket, Online) and Region - Global Forecast to 2028”, published by MarketsandMarkets, Japan Dietary Supplements Market to Grow at a CAGR 5.8% from 2023 to 2028.

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The growing demand for sports nutrition products and the adoption of active lifestyles.

The strong focus on physical fitness and sports participation creates a higher demand for dietary supplements among athletes and fitness enthusiasts. These individuals seek supplements that can optimize their performance, aid in muscle recovery, and provide the necessary nutrients for their active lifestyles. Thus increased demand for sports-specific supplements stimulates the growth of the dietary supplements market. The sports nutrition segment within the industry specifically caters to the unique needs of athletes and those involved in intense physical activities.

Manufacturers develop specialized products such as protein powders, amino acid supplements, pre-workout formulas, and recovery supplements that are specifically tailored to support athletic performance and facilitate faster recovery. This specialization creates a distinct market niche within the broader dietary supplement industry. Furthermore, the aging population in Japan has fueled the growth of the dietary supplements market as individuals prioritize maintaining health and vitality. With age-related changes and increased susceptibility to health conditions, dietary supplements are viewed as a proactive and convenient way to address specific nutritional needs and support healthy aging. The emphasis on preventive healthcare in Japanese culture further contributes to the popularity of supplements, which are seen as part of a comprehensive approach to wellness.

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The elderly age group hold a significant share in the dietary supplements market by target consumer during the forecast period

Due to the increasing aging population and their specific nutritional needs. As individuals age, they may require additional support to address nutritional deficiencies and age-related health concerns. Dietary supplements provide a convenient and targeted solution to fulfill these needs, offering vitamins, minerals, and other essential nutrients. The elderly segment seeks supplements to support joint health, cognitive function, cardiovascular health, bone strength, and immune system function. Manufacturers are developing specialized formulations to cater to the unique requirements of older adults. With the growing elderly population, the dietary supplements market is expected to experience significant growth in this segment.

China Dietary Supplements Market to Grow at a CAGR 8.3% from 2023 to 2028

According to a research report "China Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function, Mode of Application, Target Consumer, Distribution Channel (Pharmacy, Supermarket/Hypermarket, Online) and Region - Global Forecast to 2028”, published by MarketsandMarkets, China Dietary Supplements Market to Grow at a CAGR 8.3% from 2023 to 2028.

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Elderly and millennial populations are the key users of dietary supplements.

Millennials in China exhibit a strong affinity for technology and rely heavily on online platforms for their shopping needs. This tech-savvy generation enjoys convenient access to a diverse selection of dietary supplements through e-commerce channels. This accessibility allows them to easily explore and purchase products that align with their health and wellness goals, providing a seamless shopping experience.

On the other hand, the elderly population in China places great importance on maintaining good health and well-being as they advance in age. They actively seek proactive measures to enhance their overall health, manage age-related conditions, and bolster their immune systems. For this purpose, dietary supplements emerge as a convenient and readily available solution, effectively meeting their nutritional requirements and addressing specific health concerns. The dietary supplements market in China is driven by shifts in dietary habits due to urbanization and busy lifestyles. With an increased reliance on processed foods, there is a growing need for dietary supplements to address potential nutrient deficiencies and provide essential vitamins, minerals, and beneficial compounds. Additionally, the influence of Traditional Chinese Medicine (TCM) is significant, as many dietary supplements in China are formulated based on TCM principles and ingredients. These TCM-based supplements are believed to support health and promote balance in the body.

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Key players in this market include Nestle (Switzerland), Abbott (US), Amway Corp (US), Pfizer Inc. (US), ADM (US), International Flavors & Fragrance (US), Otsuka Holdings Co., Ltd (Japan), Glanbia PLC (Ireland), GSK PLC. (UK), Bayer AG (Germany), Herbalife International of America, Inc. (US), Nature's Sunshine Products, Inc (US), Bionova (Canada), ArkoPharma (France), American Health (US), Pure Encapsulation (US), H&H Group (Hong Kong), Nu Skin (US), Power Gummies (India), Biomedical Research Laboratories (US), HealthKart (India), NutriScience Corporation (US), Nature's Essentials (US), and Life Extension (US).

France Dietary Supplements Market Growth Opportunities by 2028

According to a research report "France Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function, Mode of Application, Target Consumer, Distribution Channel (Pharmacy, Supermarket/Hypermarket, Online) and Region - Global Forecast to 2028”, published by MarketsandMarkets, France Dietary Supplements Market to Grow at a CAGR 6.1% from 2023 to 2028.

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Government support for the consumption of nutritional supplements to drive demand.

France is considered one of the fastest-growing markets in terms of value sales in the European dietary supplements market. The country has witnessed an increase in the consumption of food supplements, which are concentrated sources of nutrients, plants, or other substances. According to a journal published in the Elsevier Public Health Emergency Collection, vitamin sales in France alone grew by approximately 40-60% in March 2020 compared to the same period the previous year.

The growth in vitamin sales in France has had a positive impact on the dietary supplements market. Increased consumer demand for vitamins reflects a greater focus on health and wellness, particularly during public health emergencies like the COVID-19 pandemic. This surge in vitamin sales has led to an increased interest in dietary supplements overall. Consumers who incorporate vitamins into their routines are more likely to explore and purchase other types of supplements, such as minerals, herbal products, and probiotics. The rising demand for dietary supplements presents opportunities for manufacturers and suppliers to develop innovative products tailored to consumer needs. Additionally, the popularity of online platforms and e-commerce has expanded the reach of the dietary supplement market in France, providing convenient access for consumers.

France Dietary Supplements Market 

The growing awareness about the health benefits associated with the consumption of various types of nutraceutical products, government support for the use of nutritional supplements, and the rising demand for such supplements from the pharmaceutical industry are the key factors driving the dietary supplements market in France.

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Germany Dietary Supplements Market to Grow at a CAGR 5.8% from 2023 to 2028

According to a research report "Germany Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function, Mode of Application, Target Consumer, Distribution Channel (Pharmacy, Supermarket/Hypermarket, Online) and Region - Global Forecast to 2028”, published by MarketsandMarkets, Germany Dietary Supplements Market to Grow at a CAGR 5.8% from 2023 to 2028.

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Consumer demand for specific nutrients drives market growth.

The increasing demand for plant-based food products in Germany has led to a parallel growth in the dietary supplements market. Plant-based diets offer numerous essential nutrients, but there may be specific vitamins, minerals, or beneficial compounds that are not adequately obtained solely from plant sources. As a result, there is a rising demand for dietary supplements that can complement plant-based diets and help fill potential nutritional gaps. Consumers are actively seeking supplements that provide the specific nutrients commonly found in animal-based products, such as vitamin B12, iron, omega-3 fatty acids, and protein. Individuals following plant-based diets often have distinct dietary preferences or restrictions, such as vegan or vegetarian lifestyles. They may also have specific health goals, including muscle recovery, increased energy levels, or overall well-being. Dietary supplements serve as a valuable means of providing targeted nutritional support to individuals adhering to plant-based diets. These supplements address their unique requirements, optimize their health outcomes, and help them achieve their desired health goals.

Germany Dietary Supplements Market

In essence, the demand for dietary supplements in the context of plant-based diets arises from the need to bridge potential nutritional gaps, cater to specific dietary preferences and restrictions, and support individuals in reaching their health and wellness objectives. By offering supplements that fulfill these requirements, the dietary supplements market in Germany is flourishing alongside the increasing popularity of plant-based eating habits.

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Some of the prominent key players are:

• Bayer AG
• Pfizer Inc.
• Sanofi SA
• Merck KGaA
• GlaxoSmithKline PLC
• Nutrilo GmbH
• DSM Nutritional Products AG
• Vital Health Foods
• Natures Aid Ltd.
• Hübner Naturarzneimittel GmbH

UK Dietary Supplements Market to Grow at a CAGR of 7.6% from 2023 to 2028

According to a research report "UK Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function, Mode of Application, Target Consumer, Distribution Channel (Pharmacy, Supermarket/Hypermarket, Online) and Region - Global Forecast to 2028”, published by MarketsandMarkets, UK Dietary Supplements Market to Grow at a CAGR 7.6% from 2023 to 2028.

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The popularity of herbal and probiotics supplements in the UK to boost demand.

The maket for herbal and probiotic supplements in the UK is experiencing significant growth due to increasing consumer preference for natural alternatives to maintain health and well-being. Herbal supplements, which are derived from plant sources, are highly valued for their perceived holistic approach to wellness and association with traditional healing practices. This popularity is fueled by consumers' belief in the natural benefits offered by these supplements. Additionally, the availability of comprehensive information and educational resources through online platforms, health publications, and healthcare professionals has played a crucial role in driving consumer awareness and subsequently boosting the demand for herbal and probiotic supplements. Probiotic supplements, in particular, have gained substantial attention in the UK due to their potential benefits for digestive health. With an increasing understanding of the gut-brain connection and the significant role of gut health in overall well-being, there has been a surge in demand for probiotic supplements that support a healthy gut microbiome.

UK Dietary Supplements Market

The Health Food Manufacturers Association (HFMA) commissioned a new survey, Health of the Nation 2021: Lockdown Focus, which revealed a 19% increase in supplement users in the UK. According to the data, the number of daily UK supplement users had risen to nearly 20 million, a 19% increase since the last survey in 2019, when the figure was 16.5 million. Over 71% of adults use food supplements, with one-third claiming the pandemic was the catalyst Vitamin D was the most popular dietary addition among new users, accounting for 63%, followed by vitamin C (39%).

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UK Dietary Supplements Market Key Players:

• GlaxoSmithKline plc
• Pfizer Inc.
• Atrium Innovations Inc.
• Amway Corporation
• NBTY, Inc.
• Herbalife International of America, Inc.
• Bayer AG
• Nature's Bounty Co.
• GNC Holdings, Inc.
• Solgar, Inc.