The Impact of Agrochemicals Market Mergers & Acquisitions

The agrochemicals market mergers and acquisitions has a positive outlook at a global level due to the increase in different types of deals in the market like agreements, acquisitions, partnerships, mergers, etc., to cater to the increasing demand from the consumers. North America and Europe contributed a significant share to the overall agrochemicals mergers and acquisitions market, whereas Asia Pacific is projected to be the fastest-growing region. Both, developing and developed economies have a favorable market potential for agrochemicals, due to the increasing concerns regarding crop protection and pest infections.

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The deals for herbicides and crop protection chemicals segment are estimated to occupy the largest market share during the forecast period.

The herbicides and crop protection chemicals segment is estimated to hold the largest market share in the agrochemicals mergers and acquisitions market. Moreover, increasing awareness among consumers regarding better crop protection and increased productivity is encouraging the key players in the market to launch better products in this segment. Herbicides are slightly costly as compared to other agrochemicals like fungicides and insecticides.

The acquisitions segment is estimated to grow at the highest growth rate during the forecast period

Acquisitions help companies become the world leader in the agrochemicals business. These activities have allowed the company to become a strong competitive player in the agrochemicals market across the world. Most of the acquisitions happen to capture the other company’s vast product portfolio and vast geographic reach. Furthermore, it helps in capturing new markets through well-established distribution channels, innovation, and new product launches to gain a competitive edge.

Europe and North America are estimated to have the largest number of deals during the study period

The increase in the number of strategic deals in Europe and North America is because of the number of players operating in the market. Most of dominating agrochemicals players are operating widely in both of these regions and they acquire companies in the Asia Pacific region. This trend is usually because of the number of arable lands and dependency on agriculture in these regions. The market size and penetration of agrochemicals like fertilizers and pesticides are expected to be high in developing regions. Further, crop protection like herbicides, fungicides, and insecticides is expected to grow, due to frequent pest attacks.

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Spices and Seasonings Market Trends, Growth, Opportunities & Forecast

The global spices and seasonings market is estimated to be valued at USD 21.3 billion in 2021. It is projected to reach USD 27.4 billion by 2026, recording a CAGR of 5.2% during the forecast period. Globally, the spices & seasonings market is driven by the growing demand for convenience food products, clean label trends, and natural preservatives for the meat industry. However, the growing incidences of adulteration and contamination in the spices exported from developing countries such as India and China are prompting regulatory bodies in Europe and America to strengthen the safety regulations on imported spices and seasonings. Growth in food product innovations to incorporate natural ingredients, increase in demand for health and wellness products, and rise in demand for ethnic and authentic food products are emerging opportunities for the spices & seasonings market.

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Asia Pacific dominates the market valued at USD 27.4 billion by 2026

The usage of spices and seasonings in the industrial sector is less in the Asia Pacific region as compared to that in developed regions, which presents food processing industries with considerable untapped potential. The overall economic growth in the Asia Pacific region has led to an increase in urbanization and rapid industrialization, with a resultant rise in per capita income. These factors play a major role in the changing preference of consumers towards value-added food products. The region’s improved agricultural growth over the past decade, followed by advancements in the food industry, has provided new opportunities for the spices & seasonings industry. This region has a much-diversified flavor preference wherein consumers are constantly looking for new variants, which will drive the spices & seasonings market. India’s spices & seasonings industry has witnessed increasing varieties of value-added spice & seasoning products in the ground, crushed, cracked blended, and dehydrated forms, in bulk and consumer packs.

Key Players in the Market

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the spices and seasonings market. It consists of the profiles of leading companies such as the major spices and seasonings manufacturers include McCormick & Company, Inc. (US), Olam International (Singapore), Ajinomoto Co. Inc. (Japan), Associated British Foods plc (UK), Kerry Group plc (Ireland), Sensient Technologies Corporation (US), Döhler Group (Germany), SHS Group (Ireland), and Worlée Gruppe (Germany). These players have focused on acquisitions to gain a larger market share in the spices & seasonings market.

Rapidly growing fast-food industry and increasing demand for convenience food propagating the demand

The changing perception of people about processed foods and the technological innovations in spice and seasoning processing techniques have led to an increase in demand for processed products and subsequently to the growth of the spices & seasonings market. Cinnamon is used to flavor a variety of foods, from confections to curries to beverages, and is popular in bakery goods in many places. Cinnamon also contains large amounts of polyphenol antioxidants. The antioxidants in cinnamon have been found to have anti-inflammatory effects; also, consumption of cinnamon is associated with a short-term reduction in blood pressure. All these benefits have significantly increased the consumption of cinnamon across the world.

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Meat & Poultry products account for the most share in the global spices & seasonings market

The meat & poultry products segment accounted for the largest value during the forecast period, probably because spices stimulate the appetite, adds flavor, and acts as natural preservatives for meat and poultry products. Different spices and seasonings such as pepper, cinnamon, cardamom, cumin, turmeric, and capsicum are applied to meatloaves, sausages, salamis, and other processed meat & poultry food products. Both fresh and frozen meats can be spiced and marinated before storage. All these factors have resulted in the high use of spices in the preparation of meat products. Hence, resulting in a high market share. Commercial meat processing plants use spice extracts in place of natural spices. Seasonings and spices used for sausage making are usually fresh as most consumers prefer the taste of freshly made food that often comes from spices. Spices such as garlic, pepper, and chili play a crucial role in the antioxidant and natural preservatives in fermented meat products.

Food Disinfection Market is Expected to Grow $14.9 billion by 2025

The global food disinfection market is expected to reach a value of USD 14.9 billion by 2025, growing at a CAGR of 4.1% during the forecast period. Factors such as the increasing occurrences of foodborne diseases and growing safety concerns related to food are driving the market for food & beverage disinfection, which is achieved by certain chemicals and technology (equipment). Chemical disinfectants are more frequently used in food production facilities than thermal or radiation techniques.

Asia Pacific is estimated to hold the largest market share during the forecast period

Asia Pacific accounted for the largest share during the forecast period due to the growing demand for meat and meat products in developing and developing countries such as China, India, and South Korea. The USDA is of the view that factors such as increasing disposable income, increase in population, and rapid urbanization have significantly aided in the growth of the market in this region. With the westernization of diets in the various countries in Asia Pacific, the demand for better quality meat has been growing which calls for the need to improve the overall health and productivity of livestock species which further drives the growth of the food disinfection market.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the food disinfection market. It consists of the profiles of leading companies such Solvay (Belgium), Neogen Corporation (US), Evonik Industries (Germany), Ecolab (US), BASF SE (Germany), Diversey, Inc (US), and Kersia Group (France), Thatcher Company (US),) CCL Pentasol (UK), Rentokil (US), and Entaco N.V. (Belgium), Sanosil Ltd. (Switzerland), Stepan Company (US), Acuro Organics Limited (India), Deluxe Chemicals (US), and Finktech GmbH (Germany).

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Meat & poultry, by food processing, is estimated to hold the largest market share during the forecast period

The food disinfection market, by food processing, has been segmented into meat & poultry, dairy, fish & seafood, fruits & vegetables, and other foods. Meat & poultry account for the largest market during the forecast period owing to the large pool of products available in the market. Meat processing facilities often face the challenge of controlling the count of Salmonella, Listeria, and other bacteria. Since meat and poultry are susceptible to easy contamination by pathogens and are highly perishable products, disinfection of meat processing equipment is of prime importance to prevent disease outbreaks.

Hydrogen peroxide and peracetic acid, by chemical type, is estimated to hold the largest share in the food disinfection market during the forecast period

The hydrogen peroxide and peracetic acid segment accounts for the largest share and is also projected to grow at the fastest rate during the forecast period. Hydrogen peroxide is the most used disinfectant in the food industry. It is characterized by its economical nature as compared to alcohols. Along with disinfection of the food processing equipment, hydrogen peroxide as a disinfectant also has its application in packaging materials that have direct contact with the food.

Biorational Pesticides Market Size, Share & Forecast by 2028

The global biorational pesticides market will grow from USD 7.5 billion in 2023 to USD 15.1 billion by 2028, growing at a CAGR of 15.2% during the forecast period. Organic agriculture, prioritizing natural and sustainable methods while shunning synthetic chemicals, has been pivotal. It underscores a focus on eco-friendly solutions and aligns perfectly with the essence of biorational pesticides—derived from natural origins and demonstrating minimal environmental impact. This mutual alignment complements the core principles of organic farming, fostering the heightened adoption of biorational pesticides within this evolving agricultural landscape.

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The botanical source of the biorational pesticides segment is driving the market due to simpler storage needs and broad-spectrum effect against insects, fungi, or other pests

Pesticides derived from plant sources or their extracts, known as botanical-based pesticides, frequently exhibit characteristics that enhance their stability during storage. These compounds, originating from plants, often possess inherent stability, mitigating rapid degradation or breakdown under standard storage conditions. This inherent stability contributes to an extended shelf life in comparison to certain microbial-based pesticides.

In terms of storage requirements, botanical-based pesticides typically demand simpler conditions than some microbial-based counterparts. While they may require standard storage practices, such as averting extreme temperatures or excessive moisture, they generally do not mandate specialized storage facilities or rigorous environmental controls.

Liquid formulation segment exhibits highest CAGR of 15.3%, driving biorational pesticides market growth

Liquid formulations of pesticides present distinct advantages over their dry counterparts, propelling their increased market demand. Their ease of application stands out as a primary factor, as liquids allow for more uniform spraying over large areas, ensuring enhanced coverage, particularly on uneven or densely foliated surfaces. This attribute facilitates efficient application, contributing to better pest management outcomes.

North America accounts largest share in the biorational pesticides market and witnessing growth due to tight regulations and limitations on the application of conventional chemical pesticides

The agricultural sector in North America is characterized by a variety of farming systems, including large-scale commercial operations and smaller organic and specialty crop farms. This diverse landscape creates favorable conditions for the utilization of biorational pesticides across a wide range of crops.

In North America, regulatory bodies have erected robust frameworks, rigorously scrutinizing the usage of conventional pesticides, fueled by apprehensions encompassing safety and environmental repercussions. These stringent measures have triggered a surge in the quest for biorational pesticides, esteemed for their perceived safety and eco-friendly attributes. A significant milestone unfolded when the U.S. Environmental Protection Agency (EPA) championed the cause of shielding children and agricultural workers from the perils of a hazardous pesticide with ties to enduring cognitive impairments.

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Key Players

The key players in the biorational pesticides market include BASF SE (Germany), Bayer AG (Germany), UPL (India), FMC Corporation (US), Syngenta AG (Switzerland), Novozymes A/S (Denmark), Sumitomo Chemical Co., Ltd (Japan), Pro Farm Group Inc (US), Koppert (Netherlands), Valent BioSciences LLC (US), Gowan Company (US), Certis Biologicals (US), Biobest Group (Belgium), BIONEMA (UK), and Vestaron Corporation (US).

Collagen Industry is Expected to Grow $7.4 billion by 2030

The global collagen market, valued at USD 5.1 Billion in 2023, showcases a remarkable growth projection, anticipated to escalate to USD 7.4 Billion by 2030, indicating a robust compound annual growth rate (CAGR) of 5.3% during the forecast period. The global demand for collagen is escalating due to a convergence of factors spanning health and wellness trends, an aging population seeking remedies for age-related concerns, the beauty and cosmetics industry’s reliance on collagen for anti-aging products, and the integration of collagen into functional foods and beverages to cater to nutritional needs.

US is poised to maintain its dominant position within the North American collagen market throughout the forecast period.

The expansion of the pharmaceutical sector in the United States can be attributed to the rising incidence of chronic diseases and advancements in drug delivery technology. Collagen finds extensive use in the medical and pharmaceutical domains, including applications in collagen biomaterial, wound care, pain management, combating bacterial pathogens, and addressing surgical adhesions. The increasing prevalence of conditions such as arthritis and obesity is expected to boost the demand for collagen and collagen proteins in the region, given collagen’s effectiveness in treating rheumatoid arthritis and fragile bones. Additionally, various collagen proteins play diverse roles in dietary supplements and nutraceutical ingredients. In dentistry, collagen peptides serve as hemostatic agents, facilitating rapid blood coagulation in arterial bleeding, especially those extracted from fish and administered orally. The versatile properties of collagen, including elasticity and reparative capabilities, make it widely applicable in dentistry.

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The marine segment in the collagen market is poised for remarkable growth with the highest CAGR in the upcoming forecast period.

The marine source of collagen has swiftly emerged as the frontrunner in the collagen market, experiencing unparalleled growth for several compelling reasons. Its sustainability, derived from fish by-products that minimize waste, aligns with the growing environmental consciousness among consumers. Renowned for its high bioavailability, marine collagen is easily absorbed by the body, making it an efficient choice for supplementation. Its versatility allows for diverse applications in dietary supplements, cosmetics, and medical products, catering to a broad spectrum of consumer needs.

The nutritional products segment within the collagen market emerged as a pivotal force in 2022, steering the market’s momentum.

The escalating demand for collagen in nutritional products worldwide can be attributed to a confluence of factors. With a growing awareness of collagen’s pivotal role in maintaining skin elasticity, joint health, and overall vitality, consumers are increasingly turning to collagen supplementation. This trend is particularly pronounced among the aging population seeking preventive measures against signs of aging, as collagen production naturally declines with age. Simultaneously, the fitness and wellness boom has propelled collagen into the spotlight, as athletes recognize its potential to support joint flexibility and aid in post-exercise recovery. This multifaceted appeal, combined with collagen’s adaptability in various forms and its integration into skincare and beauty regimes, has fueled its surge in demand as a key ingredient in nutritional products.

Seaweed Cultivation Market to Hit $30.2 billion by 2025

The seaweed cultivation market size is estimated to be valued at USD 16.7 billion in 2020 and is projected to reach USD 30.2 billion by 2025, recording a CAGR of 12.6% during the forecast period, in terms of value. Seaweeds are plant-like organisms that are also known as marine microalgae; they are generally attached to a rock or other hard substratum in coastal areas. The classification of seaweeds is based on various properties, such as pigmentation, the organization of photosynthetic membranes, the chemical nature of the photosynthetic storage product, and other morphological features. The application of seaweeds dates back to the fourth and sixth centuries in Japan and China, respectively.

Asia Pacific is projected to dominate the regional seaweed cultivation market through 2025

Due to the increasing presence of tropical rainforests in the Asia Pacific, various species of seaweeds are found in this region. With a wide variety of seaweed species in this region and increasing production of the seaweed-based products, Asia Pacific remains the largest supplier of seaweeds to both domestic and export markets. In addition, the bulk of seaweeds in this region is obtained from culturing (harvested through aquaculture). The key seaweed types that are in demand in this region include nori, kombu, and wakame. They are increasingly used in food preparations in the Chinese and Japanese diets. As seaweeds are nutrition-dense and are increasingly used as an ingredient in processed food, consumers prefer spending on processed food for healthy diets. The demand for clean labels and organic products is on the rise, which is also leading to the increasing use of seaweeds as organic fertilizers in the agriculture industry. The other industrial applications of seaweeds in the region include pharmaceuticals, agriculture, cosmetics, biofuel, and feed additives.

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Key Players in the Market

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Cargill, Incorporated (US), DuPont (US), Groupe Roullier (France), CP Kelco U.S., Inc. (US), Acadian Seaplants (US), Qingdao Gather Great Ocean Algae Industry Group (China), Qingdao Seawin Biotech Group Co. Ltd. (China), Qingdao Bright Moon Seaweed Group Co. (China), Seaweed Energy Solutions AS (Norway), The Seaweed Company (Netherlands), Algea (Norway), Seasol (Australia), Gelymar (Chile), Algaia (France), CEAMSA (Spain), COMPO EXPERT (Germany), Leili (China), Irish Seaweeds (Ireland) and AtSeaNova (Belgium).

The food segment is projected to account for a major share in the market during the forecast period

Seaweed is used as an ingredient in food products and is consumed directly in countries such as Japan, Korea, and China since ancient times. As it is rich in nutrients such as high iodine, calcium, magnesium, iron, vitamin, antioxidant, and fiber, seaweed, is widely considered a healthy food. Moreover, seaweeds have various applications as a thickening and gelling agent in processed food products such as sausages, bread, creams, cheese, dairy drinks, and candies. In addition, the use of seaweeds for the manufacturing of low-calorie ice creams and cakes is further projected to fuel the market growth.

Wet Pet Food Market is Expected to Grow $31.7 billion by 2028

The wet pet food market is estimated at USD 25.5 billion in 2023 and is projected to reach USD 31.7 billion by 2028, at a CAGR of 4.5% from 2023 to 2028. The growing influence of pet-centric social media platforms has fundamentally transformed the way individuals perceive, interact, and care for their animal companions. The pervasive influence of pet-centric social media platforms has fundamentally altered the way pet owners engage with and perceive their animal companions. As these platforms enable individuals to showcase their pets, share anecdotes, and access a wealth of information, a profound cultural shift has transpired, placing pets at the center of households and fostering an increased emotional bond between owners and their pets.

Key Players in the Market

Nestlé (Switzerland)
Mars, Incorporated (US)
Colgate-Palmolive Company (US)
Unicharm Corporation (Japan)
Thai Union Group PCL (Thailand)
Charoen Pokphand Foods PCL (Thailand)
General Mills Inc. (US)
The J.M. Smucker Company (US)

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Asia Pacific is estimated to grow at the highest CAGR in the wet pet food market

Asia Pacific’s wet pet food market is experiencing significant growth, with the highest CAGR. This surge can be attributed to a confluence of factors that collectively contribute to the region’s flourishing pet food industry. One of the key drivers is the rising disposable incomes across various economies in the Asia Pacific region. As disposable incomes increase, pet owners are more inclined to prioritize premium and specialized products, including wet pet food, for their beloved companions. Moreover, growing urbanization and changing lifestyles have led to an increase in pet ownership, further boosting the demand for high-quality pet food. The increasing popularity of online platforms, particularly social media and e-commerce also has played a pivotal role in driving the growth of the wet pet food market in Asia Pacific. Social media has facilitated the dissemination of information regarding pet care and nutrition, encouraging pet owners to seek out healthier and nutritionally balanced food options for their pets. The convenience offered by e-commerce platforms enables consumers to easily access a wide array of wet pet food products, fostering its adoption.

The cats in the by-pet segment is estimated to grow at significant CAGR during the forecasted period

In recent years, there has been a significant rise in cat adoption rates across various nations. Traditionally, dog adoption dominated the pet adoption landscape, but a noticeable shift has occurred as more people are opting to bring cats into their homes. Cats have rapidly ascended to become the second most adopted pets after dogs. This shift in adoption trends can be attributed to the unique appeal of cats as low-maintenance, apartment-friendly companions, making them an ideal choice for urban lifestyles. Moreover, as feline ownership becomes more widespread, pet owners are displaying heightened awareness of the nutritional requirements of their furry companions. Cats’ distinct dietary needs, including higher protein intake and hydration levels, align well with the attributes of wet pet food. Additionally, the perception of wet pet food as a more palatable and convenient option further bolsters its demand for cats.

The Rise of Sourdough: Exploring Its Popularity in Today’s Market

The sourdough market is estimated at USD 2.3 billion in 2023 and is projected to reach USD 3.5 billion in 2028, at a CAGR of 9.0 %. The growing consumer demand for healthier and more natural food options has led to increased interest in sourdough products. The traditional fermentation process of sourdough resonates with consumers seeking artisanal, authentic, and clean-label bakery items. The trend of exploring unique and diverse flavors has fueled the popularity of sourdough bread, known for its tangy taste and distinct aroma. The rising preference for sustainable and locally sourced ingredients has boosted the market as sourdough can be made with locally produced grains.

The increasing consumer demand for healthier and natural food options drives the market

As consumers prioritize their health and well-being, they are actively seeking alternatives to processed and artificial ingredients. Sourdough, with its natural fermentation process and potential health benefits, aligns well with this demand. Consumers are becoming more aware of the advantages of sourdough, such as improved digestion and potentially lower glycemic index. Additionally, the desire for natural and artisanal products contributes to the growth of the sourdough market as consumers appreciate the authenticity and craftsmanship associated with sourdough bread.

The growing popularity of Type II sourdough is boosting the type segment in the market

Type II sourdough, which typically incorporates additional ingredients or variations, offers a unique and diverse flavor profile compared to basic sourdough types. Consumers are increasingly seeking bakery products with enhanced taste experiences and indulgent flavors, and Type II sourdough satisfies this demand. The inclusion of added grains, fruits, or sweeteners in Type II sourdough provides a wider range of taste options, making it appealing to a broader consumer base. The growing popularity of Type II sourdough is driving the expansion of the type segment within the sourdough market.

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Asia Pacific provides the highest growth prospects for the Sourdough market

The Asia Pacific Sourdough market is expected to grow at a significant rate. The region’s rapid urbanization, expanding middle class, and increasing consumer spending power contribute to the shift towards Western dietary preferences and a rise in health consciousness. Consumers in Asia Pacific are becoming more aware of the benefits of sourdough, such as its natural fermentation process and potential digestive advantages. The popularity of artisanal and gourmet bread products, including sourdough, is on the rise in urban areas. Additionally, the incorporation of sourdough into traditional Asian recipes and baked goods adds to its appeal. The presence of international bakery chains, supermarkets, specialty stores, and e-commerce platforms further drives the availability and accessibility of sourdough products. Moreover, the region’s agricultural abundance allows for the cultivation of high-quality grains and ingredients, supporting the production of premium sourdough products. With shifting consumer preferences, increasing awareness, culinary adaptation, expanding distribution channels, and favorable agricultural conditions, Asia Pacific is set to be a thriving market for sourdough in 2023.

Key players in this market include Puratos (Belgium), IREKS GMBH (Germany), Lallemand Inc. (Canada), Lesaffre (France), BOUDIN BAKERY (US), Goodmills (Austria), and Bake With Brolite (US).

Agricultural Variable Rate Technology Market is Expected to Grow $13.7 billion by 2027

The global agricultural variable rate technology market is estimated to be valued at USD 7.4 billion in 2022. It is projected to reach USD 13.7 billion by 2027, recording a CAGR of 13.2% during the forecast period. Variable rate technology (VRT) is made possible through field monitoring and equipment. By varying the rate of seeds per acre, fertilizer input, herbicide application, and water input in accordance with site-specific requirements as against to uniform pre-determined levels of application, a farmer can lower input and application costs and increase yields. The profitability of VRT changes depending on the crop, field, and technology used.

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North America is projected to be the largest market

North America accounted for the largest share of the agricultural variable rate technology (VRT) market. The increasing automation and digitization of agriculture are creating new business models for the agricultural VRT market. The agricultural variable rate technology (VRT) market in North America is actively growing every year owing to increasing adoption in various crops. As per the USDA publication, the U.S. has more than 15% of the farms which are more than 200 hectares, and in these farms commercials crops are grown, which requires these types of advanced technologies for profitable and efficient farming.

Key Market Players

The key players in this market include Deere & Company (U.S.), Trimble, Inc (U.S.), AGCO Corporation (U.S.), Topcon Corporation (Japan), CNH Industrial N.V. (U.K.), Kubota Corporation (Japan), Yara International (Norway),SJ DJI Technology Co., Ltd.(China), Valmont Industries, Inc(U.S), Lindsay Corporation (U.S), Hexagon (Brazil), AgJunction(Brazil), Teejet Technologies(U.S), AG LEADER Technology (U.S), The Climate Corporation (U.S).

By application method, the sensor-based VRT is projected to account for the fastest growth in the agriculture variable rate technology market

Sensor-based VRT does not require a map or positioning system. Map-based application method is globally used in large scale; however, new technology which is sensor based which utilize active optical sensors, drone and satellite mapping are also gaining importance during the forecast period as they are real-time. However, the high cost of these sensor based VRT will be a major concern during the forecast period.

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Lutein Market Booming: Eyeing Growth with Functional Foods and Supplements

The global lutein market was valued at USD 371 million in 2023 and is projected to reach USD 488 million by 2028, at a CAGR of 5.6% during the forecast period. The market for lutein is driven by both the pharmaceutical and nutraceutical industries. In the pharmaceutical sector, lutein is used in the production of eye health supplements and medications. In the nutraceutical sector, lutein is included in various dietary supplements and functional foods that promote eye health. The nutraceutical industry refers to the sector that focuses on producing foods, beverages, and dietary supplements that provide health benefits beyond basic nutrition. Lutein is commonly included in nutraceutical products intended to support health.

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The Asia Pacific region accounted for the largest market share, in terms of value, of the global lutein market

Asia Pacific countries, particularly China and India, have well-established agricultural sectors and a strong supply chain infrastructure. These countries have the capability to cultivate lutein-rich crops and process them for various applications. This production capability, coupled with efficient supply chain networks, enables Asia Pacific countries to meet the growing demand for lutein both domestically and internationally, giving them a competitive advantage in the market.

Key players in the market are focusing on new deals and product launches. For example, Kemin Industries, Inc. (US) has expanded its distribution agreement with Diethelm Keller Siber Hegner (DKSH) to include distribution for Kemin Food Technologies – Asia in the Philippines and Indonesia.

The beverage products in by application segment is estimated to grow at the highest in the lutein market

Lutein is often added to functional beverages that aim to provide health benefits beyond basic hydration. Its antioxidant properties make it a valuable ingredient for products targeting eye health, skin health, and overall well-being. Lutein-fortified beverages can include juices, smoothies, and nutritional drinks. Lutein’s vibrant yellow color makes it suitable as a natural colorant in beverages. It can be used to enhance the visual appeal of products such as fruit juices, energy drinks, and carbonated beverages, replacing artificial food colorings. With the growing demand for clean labels and natural ingredients, lutein serves as an attractive option for manufacturers.

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The powder & crystalline in by form segment accounted for the largest share of the lutein market in terms of value

Powdered lutein offers versatility in its application. It can be easily blended with other ingredients, making it suitable for use in a wide range of products, such as dietary supplements, functional foods, and beverages. This versatility makes powdered lutein appealing to manufacturers who want to incorporate lutein into their formulations. Whereas crystalline lutein may have a higher demand in certain specialized applications. For example, in the production of lutein esters, crystalline lutein is preferred due to its purity and ability to form ester bonds. Industries requiring lutein esters for specific formulations or products may drive the demand for crystalline lutein.