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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