Probiotics in Animal Feed Market Projected to Garner Significant Revenues by 2028

The global probiotics in animal feed market is projected to reach USD 7.1 billion by 2028 from USD 4.6 billion by 2023, at a CAGR of 9.1% during the forecast period in terms of value. Owing to the increase in production and demand of compound feed along with rising consumption of feed additives in emerging markets such as Asia Pacific and South America.

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Pressure on feed productivity and feed conversion rate to drive the demand for probiotics in animal feed market

Feed conversion rate/ratio can be defined as, efficiency with which the bodies of livestock convert animal feed in the desired output. With a significantly high demand for livestock products, there has been increasing pressure on the livestock sector to meet the growing demand for high-value animal protein. This has subsequently increased the livestock population, which has resulted in increased consumption of probiotics in feed as they optimize the nutritional value of feed. The probiotics act as bactericidal and thus helps in further enhancing the performance of livestock by improving gut health and acting as a growth promoter. Therefore, feed incorporated with probiotics helps increase the feed conversion rate/ratio thereby catering to the demand.

Probiotics in animal feed act as an important aid to improve livestock health and production while improving digestion and feed efficiency. Thus, increased pressure on feed productivity and high demand for faster feed conversion rate is fueling the market for probiotics in animal feed.

Increased prevalence of disease outbreaks to augment the market growth

Unsafe and adulterated feed ingredients reduce the immunity of animals, thereby causing productivity loss by affecting the quality of animal products. The increased prevalence of disease outbreaks has encouraged livestock farmers to purchase superior-quality feed products with additives. Safety and quality of products have always been a high priority for customers, as disease outbreaks can affect the production, trade, and consumption of livestock products, such as dairy products, meat, egg, and other by-products. Furthermore, regions affected by such outbreaks are banned from exporting products for a prolonged period until completely quarantined and controlled. In the recent past, the Asia Pacific region experienced outbreaks of SARA-CoV-2 virus (2019), H5N1 influenza virus (2014) and foot-and-mouth disease (2011), which impacted trade, and livestock producers incurred heavy losses due to increased awareness about animal welfare.

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Asia Pacific is expected to dominate the market during the forecast period

Countries such as China, India, Japan, Australia & New Zealand, and rest of the Asia Pacific have been considered in this study. Some of the factors for the high demand of the market in Asia Pacific region includes growing population, rise in disposable incomes, and rapid urbanization. Increasing demand for meat and animal products among the growing population of the Asia Pacific region along with the rising affluence in the region resulted in high consumption of meat products. This has also resulted in intensified livestock production for meat, which in turn drives the need for improved animal health and performance.

The growth of the meat industry in developing economies such as India and China, as well as the increased consumption of quality meat products, are primary drivers for the Asian market. Augmented concern over livestock diseases and outbreaks of infections has further highlighted the importance of animal health and wellness to ensure the safety of end users. The advent of globalization and urbanization has caused a shift in consumer preferences, where consumers opt for nutritious, quality food products and like to experiment with food choices. These factors are expected to continue in the coming years, driving demand the for probiotics in animal feed market.

Frozen Foods Market to See Major Growth by 2028

 The global frozen foods market is projected to reach USD 363.7 billion by 2028 from USD 284.2 billion by 2023, at a CAGR of 5.1% during the forecast period in terms of value. One of the primary advantages is their longer shelf life compared to fresh alternatives. This quality significantly reduces food waste, a growing concern globally. Consumers can confidently stock up on frozen foods, knowing they won't spoil quickly, aligning with sustainability goals.

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Drivers: Rapid Growth in the Packaged Food & Beverage Drives Growth in the Frozen Foods Market

The rapid growth in the packaged food and beverage industry is significantly fueling the expansion of the frozen foods market. This synergy can be attributed to several key factors. Firstly, the packaged food and beverage sector is experiencing increasing demand due to changing consumer lifestyles and preferences. Convenience, portability, and longer shelf life are all characteristics that appeal to today's busy consumers.

Frozen foods align seamlessly with these trends, providing convenient, ready-to-eat or easy-to-prepare meal options. They offer a practical solution for individuals and families seeking quick, hassle-free dining choices in the packaged food realm. Furthermore, the packaged food industry's robust distribution networks and marketing strategies make it easier for frozen food products to reach a broader consumer base. This collaborative growth strengthens both sectors, as they cater to evolving consumer needs for convenience and variety in their food choices.

Based on type, the raw material segment is estimated to hold the largest market share during the forecast period of the frozen foods market.

Raw frozen food is poised to dominate the frozen food market due to its versatility and appeal to a wide range of consumers. This category encompasses an array of products, including fruits, vegetables, seafood, and meats, offering consumers the flexibility to create diverse and customized meals. Raw frozen foods retain their inherent nutritional value and flavor, often outperforming their cooked or processed counterparts. Furthermore, they cater to various dietary preferences, such as vegan, paleo, and gluten-free diets, making them inclusive and adaptable. In an era where health consciousness and convenience intersect, raw frozen foods align perfectly, allowing consumers to prepare fresh, wholesome meals with minimal effort. This appeal is driving their popularity, ensuring that raw frozen food remains the largest share of the frozen food market.

Based on consumption, the retail segment is anticipated to witness the highest growth in the frozen foods market.

The COVID-19 pandemic has accelerated the trend of consumers stocking up on frozen essentials due to their longer shelf life, providing a boost to the retail frozen food segment. Additionally, as consumers become more health-conscious, frozen foods are evolving to offer a wider range of healthier options, including organic and low-calorie choices, further appealing to a health-focused demographic.

Furthermore, retail channels provide a convenient and accessible distribution network, making it easier for consumers to purchase frozen foods. With the ongoing expansion of e-commerce and online grocery shopping, retail frozen foods are well-positioned to capture a significant share of the market as they cater to the evolving preferences and needs of today's consumers.

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Germany is expected to account for the largest market share in 2023.

Germany is poised to dominate the frozen foods market for several compelling reasons. The nation's strong economy and high levels of consumer purchasing power make it an attractive hub for frozen foods. Additionally, Germany's shifting demographics, characterized by a growing number of working professionals and single-person households, fuel the demand for convenient meal solutions. Frozen foods are well-aligned with these changing consumer preferences, offering quick and effortless preparation options. Furthermore, Germany places a significant emphasis on food safety and quality, and frozen foods are perceived as a secure and dependable choice. This trust in the quality and safety of frozen products further solidifies their dominance in the market.

Major players operating in the frozen foods market are General Mills Inc. (US), Nestlé (Switzerland), Unilever (Netherlands), McCain Foods Limited (Canada), Conagra Brands, Inc (US), Kellogg's Company (US), Grupo Bimbo (Mexico), and The Kraft Heinz Company (US).

Latest Regulatory Trends Impacting the Pesticide Inert Ingredients Market

The pesticide inert ingredients market is estimated to account for USD 3.5 billion in 2018 and is projected to reach USD 4.7 billion by 2023, at a CAGR of 6.14% during the forecast period. The need to ensure food security and cater to the requirements for pesticides in the agricultural industry drives the market for pesticides inert ingredients.

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With the increasing demand for organic fruits and vegetables, the bio-based segment is projected to witness the fastest growth, on the basis of source.

It has been witnessed that some of the inert ingredients used in pesticide formulation are more toxic than the active ingredients. Increasing health hazards associated with the usage of synthetic-based inert ingredients in pesticides creates an opportunity for the market players to develop bio-based inert ingredients from sources such as microbes for the formulation of bio-based pesticides. Governmental bodies and regulatory authorities have introduced regulations for the use of toxic pesticides, which affects the growth of bio-based inert ingredients in the market.

On the basis of form, the liquid segment is projected to account for a higher share in the pesticide inert ingredients market during the forecast period.

Liquid inert ingredients reduce waste and have a larger target coverage area. In addition, the uniformity and ease in mixing the liquid inert ingredients in pesticide formulations are key factors driving the demand for these forms among local manufacturers in developing countries. Thus, the liquid segment is estimated to dominate the pesticide inert ingredients market. Most of the pesticide formulations are also available in liquid form and thus the share for the liquid segment is projected to remain high.

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Asia Pacific is projected to witness the highest growth in the pesticide inert ingredients market during the forecast period.

The Asia Pacific region is one of the leading consumers of pesticides across regions, even though the region mainly depends on imports for pesticide supply. Inert ingredients are increasingly consumed by pesticide manufacturers at the production facility during the formulation stage, and countries such as India, Thailand, and Vietnam depend on imports for pesticides. Hence, the market for pesticide inert ingredients remains smaller when compared to the Americas and Europe. However, the pesticide inert ingredients market is well-established in developed countries with the increasing establishment of production plants in the Asian countries. Due to these factors, 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).

Lycopene Market Will Hit Big Revenues In Future

The global lycopene market is projected to reach USD 161 million by 2025, recording a CAGR of 5.0% during the forecast period. The market is primarily driven by the increasing number of benefits offered by lycopene in preventive healthcare and its rising applications in an array of industries, globally.

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Rising consumption of lycopene in an array of industries due to its functions as a health ingredient and coloring agent

Lycopene is witnessing a rise in consumption in an array of industries including dietary supplements, food, personal care & cosmetics, and pharmaceuticals. It is experiencing this growth due to its properties that mainly includes being a health ingredient, followed by being a coloring agent. The majority of the market share in the global lycopene market was accounted for by the health ingredient property. The coloring agent property has a comparatively smaller share in the global market for lycopene. This is a result of the limited application of lycopene as a coloring agent in the food industry. Also, applications of lycopene as a health ingredient are expanding, which is further expected to boost the growth of lycopene in the global market.

Dietary supplements to record the highest CAGR during the forecast period

The demand for dietary supplements is on the rise in developed and developing countries among the millennial population. Lycopene constitutes to be a key ingredient in the dietary supplements consumed by an individual daily. Also, industry experts foresee the adoption rate for dietary supplements to increase the most in the next five years. Hence, lycopene’s key role in the dietary supplement application because of its distinct health benefits is expected to bolster the growth during the forecast period between 2020 and 2025.

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The lycopene market in the Asia Pacific region is projected to grow at the highest CAGR from 2019 to 2025

Factors driving the growth of the Asia Pacific market include the presence of the lycopene manufacturing companies in this region. In addition, the production of tomatoes is the highest among all the regions, globally resulting in lower cost for procuring raw material. Hence, the development of technologies and abundant raw material leading the manufacturers to produce and supply lycopene to an array of industries at a competitive price and gaining an advantage over the competitors in the other regions. Furthermore, the rising awareness on benefits of lycopene in food, dietary supplement, and personal care & cosmetic applications is expected to boost the demand for lycopene, also resulting in higher exports from the surplus production of lycopene in this region, which will further boost the market share of this region in the global lycopene market.

Key players operating in this market include Allied Biotech Corporation (China), Lycored (Israel), DSM (Netherlands), Wellgreen Technology Co Ltd (China), Divis Labs (India), San-Ei Gen F.F.I., Inc (Japan), Dangshang Sannuo Limited (China), DDW (US), Dohler (Germany), Farbest Brands (US), Zhejiang NHU CO. Ltd (China), EID Parry (India), Shaanxi Kingsci Biotechnology Co. Ltd (China), Vidya Herbs (India), Xi’an Pincredit Biotech Co Ltd (China), Hunan Sunshine Bio-Tech Co.Ltd (China), Xi’an Natural Field Bio-Technology Co.,Ltd (China), Plantnat (China), SV AgroFoods (India), and Plamed Green Science Group (China).

Snack Pellets Market to Witness Unprecedented Growth in Coming Years

The snack pellets market was valued to be at USD 2.0 billion in 2018 and is projected to reach a value of about USD 2.5 billion by 2023, at a CAGR of 5.3%. The growth of the snack pellets market is driven by the rising demand for prepared and convenience food products. In addition to this, the growing focus on facility expansion, marketing schemes, and information exchange programs for creating awareness to enhance the consumption of snack pellets has contributed to the growth of the market.

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Rise in demand for prepared and convenient foods is driving market growth.

The snack pellets market is primarily driven by the growth of the processed food industry. The changes in lifestyles and high disposable incomes of the population have led to an increased demand for ready-to-eat food products, as they help save time and efforts. In addition to this, the demand for processed food and an increase in the trend of snacking between meals are also fueling the demand for extruded food products. Children and young adults require fillers in between their meals. Snacks act as alternatives to such fillers and are hence widely preferred. Being easy to consume and buy, consumers are increasing their purchase of snacks. Hence, snack manufacturers are demanding more and varied snack pellets to increase their production and meet the rising demand of snack pellets. The rise in per capita income and the trend of snacking between meals are fueling the demand for snack pellets. Consumer preferences in emerging economies such as China, India, Brazil, and the Middle East have gradually transitioned from traditional home-made breakfasts and snacking meals to ready-to-eat products over the last couple of decades.

The multigrain type segment is projected to be the fastest growing in the snack pellets market during the forecast period.

The multigrain type segment is projected to be the fastest-growing segment in the snack pellets market during the forecast period. Multigrain snack pellets are made of various grains that have high nutritional value. Earlier, a single grain type was used to produce snack pellets, due to which the nutritional value of products was limited. Currently, the consumer demand for multigrain snack pellets remains high due to its high-fiber content. With low-fat content, multigrain snack pellets offer various health and taste benefits, as compared to potato- and corn-based snack pellets. Grains such as wheat is mostly used with other types for snack pellets.

The gelatinized segment is projected to account for the largest market size during the forecast period.

On the basis of form, the snack pellets market is segmented into laminated, die-face, tridimensional, and gelatinized. Gelatinized pellets are uniform in thickness; and are generally flat, with holes on the surface. The thickness is essential for the maintenance of shape definition upon frying or toasting. Gelatinized pellets can be produced by using a specially designed high-speed rotary cutting machine, which sequentially and synchronously punches the holes and cuts the sheet into the desired shape. Hence, the gelatinized form of snack pellets in the food industry is witnessing growth.

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North America is projected to account for the largest market size during the forecast period.

North America is projected to dominate the snack pellets market throughout the forecast period. Due to the abundant availability of raw materials and the presence of a strong food processing industry, North America holds the largest share of the snack pellets market, in terms of both volume and value. Additionally, snacks made from potato are highly preferred by consumers. These factors are responsible for the largest share of potato-based snack pellets in the region.

This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies in the snack pellets market. It includes the profiles of the leading companies such as Liven S.A. (Spain), Grupo Michel (Mexico), Leng dOr S.A. (Spain), and Pellsnack-Products GmbH (Germany).

Carotenoids Market to See Major Growth by 2026

The carotenoids market is projected to grow from USD 1.5 billion in 2019 to USD 2.0 billion by 2026, recording a CAGR of 4.2% during the forecast period. The factors driving the growth of the market are increasing awareness among consumers regarding the benefits carotenoids offer in preventive healthcare. Carotenoids have antioxidant properties and have high nutritional benefits. Carotenoids are known to help in reducing the risk of type 2 diabetes and prevents cardiovascular problems. Moreover, due to increasing demand for natural ingredients in food industry, carotenoids are now in high demand for use as a natural food colorant.

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Increasing application for astaxanthin as food color has led the segment to account for the highest market share in the carotenoids market

Astaxanthin accounts for the largest share in the market, during the forecast period. Astaxanthin is found in certain algae and has a red pigment. Due to its red pigment, it is now being widely used in meat products to impart color. It is used in food products such as salmon, lobster, trout, shrimp, and other seafood products. Moreover, it is also now being used as it helps in fighting diseases such as Parkinson’s disease, the prevention of macular degeneration, and the Alzheimer’s disease.

Natural segment is projected to grow at faster CAGR in the carotenoids market during the forecast period as consumers are demanding natural food products

The natural segment is forecasted to grow at higher CAGR in the market during the study period. This can be attributed to increase in biological activities and high antioxidant properties offered by natural carotenoids. During last few decades there has been increasing concern over the chemical ingredients used in various food products. Consumers across the globe are now demanding for food products with natural ingredients as they are perceived as safer fand healthier for consumption. This has driven the demand for natural carotenoids in food industry.

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The Europe region is projected to account for largest market share in the carotenoids market during the forecast period due to increase demand for clean-label products

The Europe region is forecasted to dominate the carotenoids market in terms of market share during the forecast period. This is due to the presence of consumers who are demanding natural and clean-label food products. The players in food and feed industry in Europe are widely using natural ingredients as a colorant in their products and easy availability of carotenoids makes it a preferrable option for these manufacturers. Furthermore, growing ageing population has led to increase in demand for carotenoids as it may benefit in curing cataract and other eye disorders. 

The prominent vendors in the carotenoids market include Koninklijke DSM (Netherlands), BASF (Germany), Chr. Hansen (Denmark), Kemin Industries (US), Lycored Limited (Israel), Cyanotech Corporation (US), Fuji Chemical Industry Co Ltd. (Japan), Novus International (US), DDW The Color House (US), and Dohler Group (Germany).

Latest Regulatory Trends Impacting the Snack Pellet Equipment Market

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).