Benzenoid Market to See Major Growth by 2025

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

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

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

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

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

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

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Asia Pacific is estimated to be the largest market.

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

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

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

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

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

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

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

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

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

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

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

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

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Europe is estimated to be the largest market.

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

Key Market Players:

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

Flavor Systems Market: Growth Opportunities and Recent Developments

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

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

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

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

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

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

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

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

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

Mass customization of flavor systems has created opportunities for manufacturers

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

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

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

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the flavor systems market. Givaudan (Switzerland), International Flavors & Fragrances (IFF) (US), Firmenich (Switzerland), Symrise (Germany), and Mane SA (France) are the leading players in the flavor systems market. Some of the other players in the flavor systems market include Frutarom (Israel), Sensient (US), Takasago (Japan), Robertet (France), Tate & Lyle (France), T. Hasegawa (Japan), Kerry Group (Ireland).

Sustainable Growth Opportunities in the Rice Seeds Market

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

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

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

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

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

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

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

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

Plant-based Beverages Market Will Hit Big Revenues In Future

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

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

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

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

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

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

Agricultural Testing Market: Growth Opportunities and Recent Developments

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

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Soil segment is estimated to be the largest in 2017

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

Quality assurance segment set to dominate the market by2022

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

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

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

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

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

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

Plant-based Meat Market: Growth Opportunities and Recent Developments

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

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

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

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

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

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

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

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

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

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