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.