Dairy Testing Market to Witness Unprecedented Growth in Coming Years

The report "Dairy Testing Market by Type (Safety (Pathogens, Adulterants, Pesticides), Quality), Technology (Traditional, Rapid), Product (Milk & Milk Powder, Cheese, Butter & Spreads, Infant Foods, ICE Cream & Desserts, Yogurt), and by Region - Global Forecast to 2026" The global dairy testing market is estimated to be valued at USD 5.5 billion in 2021 and is projected to reach a value of USD 8.1 billion by 2026, growing at a CAGR of 8.2% during the forecast period. Increase in consumer awareness regarding the safety and quality of food products, stringent regulations imposed by the regulatory bodies, and increase in the global dairy trade, have been driving the global dairy testing market.

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Impact of Covid-19 on Dairy Testing Market

The COVID-19 pandemic is projected to have a significant impact on the food (dairy) market, as it has highlighted the significance of safe, healthy, and nutritive eating. Food security, food safety, and food sustainability have been considerably affected during the Covid-19 pandemic. The use of e-commerce to order deliveries of groceries and restaurant meals has risen sharply. Restaurant operators with established drive-thru and pick-up operations have fared much better than those without. Consumer behavior related to the food consumed saw sharp shifts, with a higher preference for safety and quality. These have further propelled the manufacturers to assess the safety parameters of their food products to be able to sustain their product values in the market.

Opportunities: Technological advancements in the 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).

By technology, the rapid technology segment is projected to dominate the dairy testing market during the forecast period.

The rapid technology segment is estimated to dominate the dairy testing market in 2021 and is projected to record higher growth during the forecast period. Rapid technology offers low turnaround time, higher accuracy and sensitivity, and the capacity to test a wide range of contaminants as compared to traditional technology; this is driving the dairy testing market for rapid technology.

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The rising demand for dairy testing in the European markets has created opportunities for dairy testing service providers.

The Europe region is the dominant market for dairy testing and is expected to experience the fastest growth only second to Asia-Pacific. The major producers of milk in the EU region are Germany, France, Poland, the Netherlands, Italy, and Spain. Together these countries account for around 70% of the total milk production. Globalization has increased the international trade of milk and dairy products and has had a major impact on global dairy supply. However, the increase in trade has resulted in higher risk of contaminated milk and dairy products reaching dairy producers and processors, and end consumers in distant markets due to instances of cross-contamination, exposure to toxins, microorganisms, and other contaminants. Manufacturers have been using dairy testing services to ensure safety and quality of their products and to comply to the international standards

This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies operating in the dairy testing market. It includes the profiles of leading companies such as SGS SA (Switzerland), Bureau Veritas (France), Eurofins (Luxembourg), Intertek (UK), TÜV SÜD (Germany), TÜV NORD GROUP (Germany), ALS Limited (Australia), Mérieux NutriSciences (US), Neogen Corporation (US), Romer Labs (Austria), Microbac Laboratories (US), AsureQuality (New Zealand).

Latest Regulatory Trends Impacting the Meal Replacement Market

According to MarketsandMarkets "Meal Replacement Market by Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), and Region (North America, Europe, Asia Pacific, South America, and RoW) - Global Forecast to 2026", the global meal replacement market size is estimated to be valued at USD 11.9 billion in 2021 and is projected to reach USD 15.5 billion by 2026, recording a CAGR of 5.4% during the forecast period in terms of value. It is driven by increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers and changing consumer lifestyle and availability of convenient nutritious meal in the form of meal replacement.

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Drivers: Increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers

The population of obese people is increasing globally and has tripled since 1975. Obesity being one of the largest health problems, has shifted from being the most common problem in developed countries to countries with all income levels. Owing to the rising cases of obesity, individuals are adopting meal replacement plans as an effective tool for weight loss. Obesity increases the risk of diabetes, cardiovascular mortality, dyslipidemia, and hypertension, among others. Meal replacement weight management solutions are suitable for the long-term as they help in losing more weight compared to other interventions.

Additionally, the increasing awareness regarding healthy lifestyles is projected to drive the global meal replacement market. There is an increasing trend and adoption of a nutritious diet to replace regular meals with convenient and easy options such as meal replacements.

Opportunities: Growth of the meal replacement market from emerging economies

The emerging economies are witnessing a surge in spending for nutritious food, which is attributed to the growing awareness among consumers. The growth of meal replacement across emerging geographies is also owing to the rising obesity rates, an increase in sedentary lifestyle, aging population, and increased interest in health and nutrition. Furthermore, countries such as India, Australia, and Japan are witnessing a rise in the development of lifestyle diseases such as cardiovascular diseases, type 2 diabetes, and osteoporosis. Additionally, countries in the Asia Pacific region have registered high growth rates for overweight and obesity. Similarly, obesity has become one of the rising health concerns across South America. In 2021, Brazil had approximately 15,733.6 thousand people with diabetes, which is expected to reach 23,223.6 thousand by 2045. These geographies with a rising prevalence of chronic diseases are anticipated to create opportunities for the market players of meal replacement to expand their business across new markets.

By distribution channel, the offline segment is projected to dominate the meal replacement market during the forecast period

By distribution channel, the offline segment is estimated to dominate the market in 2021 and is anticipated to maintain its dominance throughout the forecast period. The large share of the offline distribution channel is attributed to the high distribution of meal replacement products through hypermarkets and supermarkets.

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By region, Asia Pacific is projected to grow at the highest CAGR during the forecast period

The consumption of meal replacement is increasing in the Asia Pacific region due to the increase in the demand from the health-conscious young population across countries such as China, Japan, Australia, and India. The rising consumption of on-the-go food products, changing dietary preferences, and increasing impact of western dietary patterns have led to the increased demand for meal replacement in most developing countries.

Key Market Players:

Key players in this market include Abbott Laboratories (US), Glanbia (Ireland), Amway (US), Herbalife Nutrition (US), Nestle (Switzerland), Atkins (US), Huel (UK), Kellogg Co. (US), Skin Enterprises Inc. (US) and USANA Health Sciences Inc. (US).

Coconut Oil Market to Showcase Continued Growth in the Coming Years

The global Coconut Oil Market size is estimated to be valued at USD 5.7 billion in 2022 and is projected to reach USD 7.4 billion by 2027, recording a CAGR of 5.5% during the forecast period in terms of value. The demand for coconut oil is increasing moderately due to increasing demand for natural ingredients.

Key players in this market include Cargill Incorporated (US), ADM (US), Bunge Limited (US), Mangga Dua (Indonesia), Greenville Agro Corporation (Philippines), Royce Food Corporation (Philippines), Novel Nutrients Pvt. Ltd. (India), Aromaax International (India), Adams Group (US), and Connoils LLC (US).

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Impact of COVID-19 on Coconut Oil Market

The COVID-19 pandemic significantly impacted the overall food & beverage industry. At one end, lockdowns imposed by various countries affected the import and export activities, leading to the disruption in the supply chain. However, as restrictions were lifted, companies came back on track with their businesses. On the other hand, consumers became more aware of the food products they consumed in the wake of the pandemic. Consumers are shifting toward products containing ingredients that are beneficial for their health. This is anticipated to boost the demand for coconut oil during the review period. Moreover, the demand for cosmetic products containing organic natural ingredients is rising, which is further forecasted to drive the market.

The key players are fixated upon improving their market shares, while their newer start-ups are being established rapidly in the market. The coconut oil market can be classified as a competitive market as it has the presence of a large number of organized players, accounting for a major part of the market share, present at the global level, as well as unorganized players present at the local level in several countries. There are numerous existing and emerging companies, particularly in the Asian markets.

Cargill is engaged in the manufacturing and marketing 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.

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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).

Food Processing & Handling Equipment Market to Showcase Continued Growth in the Coming Years

The food processing and handling equipment market is projected to grow from USD 130.6 billion in 2021 to USD 175.1 billion by 2026, recording a compound annual growth rate (CAGR) of 6.0% during the forecast period. The demand for food and beverage processing and handling equipment’s is increasing significantly, due to the increasing consumption of food and beverage products in developing countries such as China, India, South Africa, and Brazil.

The key players in this market include GEA (Germany), Bühler (Switzerland), Alfa Laval (Sweden), JBT Corporation (US), SPX FLOW (US), Robert Bosch (Germany), IMA Group (Italy), Middleby Corporation (US), and Dover Corporation (US). Product launches, expansions & investments, mergers & acquisitions, agreements, joint ventures, and partnerships were the dominant strategies adopted by major players. These strategies have helped them to increase their presence in different regions.

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GEA Group is one of the leading technology suppliers for the food and beverage processing industry. The company provides customized solutions in food, dairy processing, dairy farming, beverage processing, pharma, chemical, marine, leisure & sport, land-based transportation, and utilities. The international industrial technology group specializes in machinery and plants as well as advanced process technology, components, and comprehensive services. The company operates in five segments: separation & flow technologies, liquid & powder technologies, food & healthcare technologies, refrigeration technologies, and farm technologies. In January 2019, GEA Group launched Dairy Robot R9500, which would help enhance the milking process. The launch of the product made the group a pioneer in the industry to launch Somatic Cell Count (SCC) monitors to continually analyze the milk flow from each quarter.

The Middleby Corporation is one of the leading global technology solution providers catering to the various solutions for commercial, industrial & residential food services worldwide. The company manufactures and distributes technologically automated systems and products to its customers, globally. The Commercial Foodservice Equipment Group has a broad portfolio of foodservice equipment, which enables it to serve virtually any cooking, warming, holding, refrigeration, freezing, and beverage application within a commercial kitchen or foodservice operation. This equipment is used across all types of foodservice operations, including quick-service restaurants, full-service restaurants, ghost kitchens, convenience stores, supermarkets, retail outlets, hotels, and other institutions. In September 2021, the company acquired Imperial Commercial Cooking Equipment Company (US), a manufacturer of a range of fryers, ovens, and countertop equipment. It helped improve the business sales of the company.

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JBT Corporation (John Bean Technologies Corporation) is a leading global technology solution and service provider. It operates through two business segments, namely AeroTech and FoodTech. JBT AeroTech provides mobile equipment, fixed equipment, and airport services to airport authorities and passenger airlines. JBT FoodTech develops and delivers innovative freezing, protein processing, in-container processing, and fruit and juice processing solutions to multinational and regional food processors. The company’s FoodTech segment provides its services through protein, liquid food, and automated guided vehicle system subcategories. In the liquid food category, the company provides extraction, mixing, blending, filling, and packaging equipment. In November 2021, JBT acquired Urtasun Tecnología Alimentaria S.L which provides solutions for fruit and vegetable processing. This acquisition expanded the existing product offering of JBT in the fruits and vegetable processing domain. This would increase its market presence in the packaged and frozen market sector.

Growth Strategies Adopted by Major Players in the Snack Pellet Equipment Market

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).

Latest Regulatory Trends Impacting the Pesticide Inert Ingredients Market

The report "Pesticide Inert Ingredients Market by Type (Emulsifiers, Solvents, and Carriers), Source (Synthetic and Bio-based), Form (Dry and Liquid), Pesticide Type (Herbicides, Insecticides, Fungicides, and Rodenticides), and Region - Global Forecast to 2023", The pesticide inert ingredients market is projected to reach USD 4.7 billion by 2023, from USD 3. billion in 2018, at a CAGR of 6.14% during the forecast period. The market is driven by factors such as the increasing demand for specific inert ingredients in pesticide formulation and capability of inert ingredients to improve the efficacy of pesticide application.

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

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

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

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

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

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The Asia Pacific is projected to witness the fastest growth in the inert ingredients market through 2023.

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 countries. Even though there is a variation in the agriculture system from basic systems in India to the technically advanced ones in Japan, the agenda of food security is supported by local governments in the Asian countries. The Asia Pacific region is one of the leading consumers of pesticides across the globe, though the region mainly depends on imports of 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 projected to be 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 is projected to increase in the future.

This report includes a study of development strategies for leading companies. The scope of this report includes a detailed study of major companies such as BASF (Germany), Clariant (Switzerland), DowDuPont (US), Stepan Company (US), and Croda International Plc. (UK). Other players in the market include Eastman Chemicals (US), Solvay S.A. (Belgium), Evonik (Germany), Huntsman Corporation (US), AkzoNobel (The Netherlands), Royal Dutch Shell (The Netherlands), and LyondellBasell Industries (Netherlands).

Controlled Release Fertilizer Market to Witness Unprecedented Growth in Coming Years

The report "Controlled Release Fertilizer Market by Type (Slow Release, Coated And Encapsulated, Nitrogen Stabilizers), End-Use (Agricultural and Non-Agricultural), Mode of Application (Foliar, Fertigation, Soil), and Region - Global Forecast to 2026", The global controlled release fertilizer market size is projected to reach USD 3.3 billion by 2026. The market for controlled release fertilizer is estimated at USD 2.4 billion in 2021; it is projected to grow at a CAGR of 6.4% to reach USD 3.3 billion by 2026.

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Asia Pacific accounted for the largest share; during the forecast period, in terms of volume and value, respectively. Increasing growth of high-value crops and rising awareness among farmers about the environmental benefits of controlled-release fertilizers are expected to provide more scope for market expansion. The government policies adopted by Asia Pacific countries and the large subsidies, sometimes up to 100% for marginal farmers, provided on fertilizers are the major factors triggering the growth of this market in the region. In North America region the demand for controlled-release fertilizers is expected to increase in the near future due to the shrinking arable land. Mexico, on the other hand, has the advantage of a warm climate; however, the relative arable land is significantly less than the others. Given the high prices of controlled release fertilizer, the market has remained popular in developed markets, with high disposable incomes and demand.

The coated and encapsulated segment by type is projected to achieve the fastest growth in the controlled release fertilizer market.

The coated & encapsulated segment accounted for the largest market share during the forecast period. An increase in the application of coated fertilizers for cultivating high-value crops has led to a surge in demand in developed countries. The need for predefined and patterned nutrient release in the case of high-value crops and horticulture triggered the development of polymer coatings in the market. The rate of the release of nutrients can be controlled by the composition and thickness of the polymer coating. The nutrient release is dependent on temperature and the moisture permeability of the polymer coating. The moisture permeability of the capsule can be controlled by changing the composition of the polymeric coating material used. Since it is not dependent on soil properties, the prediction of nutrient release at a given time is possible for polymer-coated fertilizers.

By mode of application, the fertigation segment is projected to account for the largest market share in the controlled release fertilizer market.

The controlled-release fertilizers market, in terms of application method, was dominated by fertigation. Owing to the increasing irrigated land, fertigation is highly preferred as a suitable application method adopted in both developed and developing countries across the globe for the application of these fertilizers. Also, the labor costs are reduced to a large extent through the adoption of these techniques. Hence, this segment is also projected to be the fastest-growing in the coming years. Though this technique allows uniform fertilizer application to some extent, newer and better technologies supporting precision farming practices can be developed. The combination of precision farming practices and controlled-release technology is expected to exhibit a synergistic relationship for the benefit of the global agricultural industry

The non agricultural sub-segment by end use is projected to account for the largest market share of the controlled release fertilizer market over the forecast period.

The non-agriculture segment is projected to account for the largest share. The growth in purchasing power and the rising environmental issues have led to an increase in the demand for CRFs in non-agricultural.

Controlled-release fertilizers help improve the use efficiency (UE) of nutrients and reduce environmental pollution. The application of controlled-release fertilizers is usually on turf & ornamentals, cereals & grains crops such as rice, corn, and wheat. Due to the high price of controlled-release fertilizers, their use is mainly restricted to high-value crops and non-agricultural crops

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Asia Pacific is projected to be the largest market.

Demand for controlled-release fertilizers has been growing in this region, due to increasing investment of overseas business lines in agricultural inputs to exclusively meet the demand of crop growers to attain export quality. Additionally, the regulations for controlled-release fertilizers are favorable in this region. China is estimated to account for the largest share in the Asia Pacific controlled-release fertilizers market due to the increasing investments by several multinational manufacturers in research & development.

The key players in this market include Yara International ASA (Norway), Nutrien Ltd. (Canada), The Mosaic Company (US), ICL Group (Israel), Nufarm Ltd. (Australia), Kingenta (China), ScottsMiracle-Gro (US), Koch Industries (US), Helena Chemical (US), and SQM (Chile). 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.