Cargill (US) and ADM (US) are the Key Players in the Lecithin & Phospholipids Market

The global lecithin market was valued at USD 1.15 billion in 2018 and is projected to reach USD 1.59 billion by 2023, at a CAGR of 6.7% during the forecast period. The global phospholipids market was valued at USD 3.23 billion in 2018 and is projected to reach USD 4.36 billion by 2023, at a CAGR of 6.2% during the forecast period. The lecithin market is driven by the growing feed industry and increasing demand from the confectionery products, bakery products, and convenience food industry due to its multifunctional and natural origin. The phospholipids market is driven by the growing trend of natural ingredient consumption in the emerging economies of Asia Pacific and South America, owing to the growing sale of dietary supplements and cosmetic products in these regions.

The key players in the lecithin & phospholipids market include Cargill (US), ADM (US), Stern Wywiol Gruppe (Germany), DowDuPont (US), and Bunge (US). Other players include Lipoid (Germany), Wilmar International (Singapore), Sonic Biochem Extractions (India), Avanti Lipids Polar (US), Lecico (Germany), VAV Life Sciences (India), Sodrugestvo (Luxembourg), Kewpie Corporation (Japan), Sojaprotein (Serbia), American Lecithin Company (US), Sime Darby Unimills, Lecital (Austria), and Lasenor Emul (Spain).

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The key market players adopted growth strategies such as new product launches, expansions, mergers, and acquisitions to cater to the increasing demand for lecithin & phospholipids. For instance, companies such as Cargill and Stern-Wywiol Gruppe are focusing on expanding their product portfolios to strengthen their presence in the lecithin market. Some key companies also adopted acquisitions as a strategy to increase their consumer base in various geographies. For instance, in 2014, ADM acquired WILD Flavors GmbH and expanded its product portfolio in the lecithin space.

Cargill, one of the global leaders in the lecithin & phospholipids market, offers lecithin for various applications such as bakery products, confectionary products, convenience foods, dairy products, and meat & fish. The company is also active in the de-oiled, fluid, and modified lecithin. Furthermore, the company provides phospholipids under its brand, Epikuron, used in the pharmaceuticals and nutrition & supplements sectors. Apart from this, the company is one of the few players that provide industrial lecithin for the paints, inks, paper coatings, and leather & textile industries. The company adopted new product launches as one of its key strategies to increase its market presence in the lecithin area. For instance, in 2018, the company launched de-oiled non-GMO lecithin for consumers in Europe, amidst increasing demand for natural ingredients among consumers here.

ADM is also a key manufacturer of lecithin & phospholipids for the food, feed, and human nutrition applications. The company’s lecithin products are used in a wide variety of food applications such as bakery products, confectionery products, and convenience foods. The company also offers phospholipids under the brands, Ultralec and Capsulec. The company has a strong presence in the US market. It has adopted the expansion strategy to gain a share in the lecithin market space. In 2014, the company expanded the production capacity of non-GMO lecithin in Latur (India) and added rapeseed processing capabilities to its existing facility in Hamburg (Germany), owing to increased demand for non-GMO lecithin among consumers at a global level.

Omega-3 Market worth $8.5 billion by 2025

The global omega-3 market size is estimated to be valued at USD 4.1 billion in 2019 and is projected to be worth USD 8.5 billion by 2025, recording a CAGR of 13.1% during the forecast period. The growing demand for food fortification, increase in application profiling, and innovative product technologies shall drive the growth of the global omega-3 market over the next few years. Due to the increasing trend of mother and infant nutrition products, consumption of omega-3 fatty acids improve the performance. The omega-3 market is projected to record significant growth during the forecast period. In addition, due to the rise in health awareness among consumers, omega-3-based dietary supplement products are projected to witness high demand in the market.

The key players in this market include Cargill (US), BASF (Germany), DSM (Netherlands), Croda International (UK), and Epax (Norway). New product and technology launches, expansions & investments, agreements, and partnerships were some of the core strengths of the leading players in the omega-3 market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Some of the other players in the omega-3 market include Lonza (Switzerland), Orkla Health (Norway), Corbion (Netherlands), KD Pharma (Germany), GC Rieber (Norway), Guangdong Runke Bioengineering (China), Nordic Naturals (US), Golden Omega (Chile), Biosearch Life (Spain), Pharma Marine (Norway), Polaris (France), Sinomega (China), Kinomega (China), and Huatai Biopharm (China).

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DSM (Netherlands) is one of the major players in the global omega-3 market. DSM is a Dutch company that is involved in the manufacture of nutritional products, pharmaceutical ingredients, and industrial chemicals. The company is actively providing solutions in the fields of nutrition and health. To expand its business, the primary strategy opted by the company is to launch new products, partnerships, investments, and joint ventures. DSM launched Life’s Omega is an algae-based vegetarian capsule that offers both EPA and DHA and is a natural source for omega-3. This product aided in sustaining the marine ecosystems.

Epax (Norway) is one of the major players in the omega-3 market. It is one of the global leaders in providing omega-3 concentrates, which are highly purified and of high quality. The company’s line of business includes omega-3 concentrates in different concentrations and EPA: DHA ratios. Epax announced to invest USD 35 million over the next two years for the innovation of its omega-3 sector. This investment will allow Epax to have better capacity in the omega-3 industry, at its main site of production in Norway. It will facilitate the extended concentration of EPA and DHA without prompting oxidation, which will ultimately avoid unwanted by-products.

The omega-3 market in Asia Pacific is projected to witness high growth due to rising awareness about its health benefits and increasing disposable income of the population in the Asia Pacific countries. With the growing inclination toward healthy aging in the region, the adult population prefers consuming dietary supplements, including omega-3, as per the recommendations by the Global Organization for EPA & DHA Omega-3 (GOED). Moreover, in Asia Pacific countries, the governments are also focusing on and promoting fortified foods, and many big brands such as BASF (Germany) and Croda International (UK) have expanded their operations in these countries to cater to the growing demand for omega-3. Key manufacturers prefer expanding in the Asia Pacific region, as it provides cost-effective benefits during production and processing. The high demand for omega-3 and low cost of production are the major factors that are projected to encourage suppliers and manufacturers to invest in this market. In addition, Asia Pacific has the highest growth potential due to factors such as high economic growth and the increase in income of individuals in the region. The high population growth and increase in FDI are factors that are driving the growth of the omega-3 market.

This report includes a study on the marketing and development strategies, as well as the product portfolios of the leading companies operating in the omega-3 market. It includes the profiles of leading companies such as Epax (Norway), Croda International (UK), Golden Omega (Chile), GC Rieber (Norway), Cargill (US), DSM (Netherlands), BASF (Germany), Lonza (Switzerland), KD Pharma (Germany), and Pharma Marine (Norway).

Key Opportunities and Challenges in Functional Food Ingredients Market

The functional food ingredients market is estimated to be valued at USD 68.60 billion in 2018 and is projected to reach USD 94.21 billion by 2024, at a CAGR of 6.6%. Functional food ingredients are those ingredients which have been demonstrated to have specific physiological benefits, apart from the main nutritional benefits that are derived from food & beverages. The usage of functional food ingredients in the manufacturing of functional food & beverage products is expected to provide nutritive health benefits, prevent/resist chronic diseases, or act as energy boosters. The market is driven by the increasing consumption of nutritive convenience food and fortified food and growing health awareness among consumers leading to increased consumption of healthier diets.

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Key Players:

DowDuPont (US)
ADM (US)
Arla Foods (Denmark)
BASF (Germany)
Cargill (US)
Chr. Hansen (Denmark)
DSM (Netherlands)
ABF (UK)

Cargill is one of the market leaders for functional food ingredients. Although primarily focused on the North American market, the company has expanded its protein production capacities in Nashville, Tennessee, US. It supplies its products across the globe, catering to the business needs of clients in 70 countries. The company mainly focuses on achieving growth through expansions and new product launches in domestic as well as overseas markets. For instance, in November 2017, it invested USD 240 million in India, thereby enhancing the company’s market access in the Indian functional food ingredients market.

Archer Daniels Midland Company offers functional food ingredients through its Wild Flavors and Specialty Ingredients segment. It offers a wide range of products in the functional food ingredients market. The company majorly focuses on growth strategies such as mergers and acquisitions to increase its market reach in the global functional food ingredients market. For instance, in November 2017, the company expanded its product portfolio by introducing Nutriance, a new range of innovative wheat protein concentrates, which finds applications in sports nutrition and senior nutrition products.

The food segment is projected to be larger & faster-growing during the forecast period

The food segment is projected to be faster-growing, by application, during the forecast period. The market for functional food is increasing as consumers prefer balanced diets and food that not only takes care of their appetite but also helps enhance their immunity. This, along with product innovations in terms of flavors and variant offerings, presents significant opportunities for the growth of applications in the functional food ingredients market. Factors that are further fueling consumer interest in functional foods are the rapid advances in science & technology, increase in health care costs, aging, and growth in interest in attaining wellness through diet.

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The natural segment set to dominate the market by 2023

The functional food ingredients market, by source, is projected to be dominated by the natural segment during the forecast period. Functional food ingredients, in their natural form, are widely used due to growing consumer demand for natural ingredients; the growing awareness about the health benefits associated with ingredients sourced from natural sources is driving the growth of the natural segment over the synthetic one.

South America is projected to be the fastest-growing market during the forecast period

The South American market is projected to grow at the highest CAGR from 2018 to 2023. The region displays a variety of different demographic and developmental trends; the common regional trends that are expected to help drive market growth include rapid urbanization and increased life expectancy, the high occurrence of obesity and malnutrition, rise in incidences of chronic diseases, and mortality rates. All these factors have further propelled consumers to move toward increased adoption of healthier products.

Market Leader – GMO Testing Market

Key players identified in the GMO testing market include Thermo Fisher Scientific, Inc. (U.S.), SGS S.A. (Switzerland), Bureau Veritas SA (France), Intertek Group Plc. (U.K.), Eurofins Scientific SE (Luxembourg), TÜV SÜD AG (Germany), and Bio-Rad Laboratories, Inc. (U.S.). Other players such as ALS Limited (Australia), Mérieux NutriSciences Corporation (U.S.), AsureQuality (New Zealand), Romer Labs Diagnostic GmbH (Austria), and Microbac Laboratories, Inc. (U.S.) also have a strong presence in the global market.

The key market players adopted strategies such as expansions & investments, acquisitions, new product services & technology launches, and agreements, collaborations, and partnerships to meet the growing demand for safety testing for GM foods. Companies largely adopted strategies such as expansions and investments to expand their facilities and production capacities, to increase their capital, and to cater to the needs of the industry. Leading players have also been focusing on strengthening their strategic positions by implementing new technology and service development as a strategy to discover new advanced processes in the areas of food testing.

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The core strength of the key players in this market is the ability to improve their service capabilities for GM food safety testing and to create a strong geographical network and supply chain. They are strategically located, and have entered into distribution agreements with regional players to ensure a cost-effective efficient supply chain. Market leaders such as Eurofins Scientific SE (Luxembourg), Genetic ID NA, Inc. (U.S.), Intertek Group Plc (U.K.), and Romers Lab Inc. (U.S.) have successfully tapped various markets such as the U.S., China, Germany, Brazil, and Argentina, through expansions and acquisitions, as these countries are active in the international trade of GM crops and foods.

In December 2016, Eurofins expanded its network by widening its presence in Asia. It developed a new team which operates in the Philippines. This expansion was strategized to cover the market of Vietnam and Indonesia along with the Philippines. This facility offered various services including food & feed testing. In June 2016, Eurofins Scientific acquired Agro-Analyses SAS (France). This acquisition would help to strengthen its leadership in the French food testing market, mainly in the area of food quality and safety assessment.

In November 2015, IFP (Institut fur Produktqualitat GmbH) (Germany) expanded its activities in the field of GMO detection in food and feed. It is listed as a GMO laboratory by the U.S. Non-GMO Project and by the German VLOG (Association Food without Genetic Engineering). As a manufacturer of GMO-free products, the company is able to target the U.S. market.

Emerging Economies of Asia Pacific and South America to Witness High Growth in Omega-3 Market

The global omega-3 market size is estimated to be valued at USD 4.1 billion in 2019 and is projected to be worth USD 8.5 billion by 2025, recording a CAGR of 13.1% during the forecast period. The global market is projected to witness significant growth due to factors such as the increase in the dietary supplement consumption and that of functional food & beverage, which encourages the production process and rise in the awareness of consumers associated with preventive healthcare across the globe.This has promoted the growth ofthe omega-3 market in China, India, Japan, and Australia.

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Significant developments that can change the business landscape as well as market forecasts

The share of the source segmentation was calculated based on the share of the type segmentation. ALA is mainly found in plant oils; however, some part of it comes from the marine sources. Whereas, EPA and DHA are obtained from marine sources only.

The growing number of omega-3 manufacturers in the US and the largest number of existing companies in the country are factors considered for the higher CAGR of the country in the market.

The falling supply of fish stocks and lack of aquaculture management due to sustainability issues have made manufacturers shift to plant alternatives. Due to this reason, the plant source segment is growing at a relatively higher rate.

A majority of the infant and mother nutrition products in the US are now DHA-fortified. Due to this reason, the market for infant formula and DHA are growing at a higher rate in the country.

The rising number of health concerns among the various age groups across the world has resulted in an increasing demand for omega-3 supplements that target specific ailments, which, in turn, drive the market. Recent launches and research in infant and mother nutrition products for infant brain development have resulted in high usage of DHA in these products, which has significantly affected market growth.

Addition to/Refinement in segmentation – Increase in depth or width of segmentation

Type(with more scope): In the previous edition of the report, theomega-3market, on the basis of type, was segmented as follows:

Marine sources
- Fish oil
- Algal oil
- Krill oil
- Other marine oils
Plant sources
- Flaxseed oil
- Chia seed oil
- Other plant sources

In the latest edition, market sizing and forecasting are provided for the following segmentation:

Marine sources
- Fish oil
- Algal oil
- Krill oil
- Other marine oils
Plant sources
- Nuts & seeds
- Vegetable oils

Coverage of new market players, change in the market ranking of existing players

Company Profiles: Company profiles offer a glimpse of the key players in the market with respect to business overview, financials, product offerings, and recent developments. In the new edition of the report, a few additional players have been profiled—Epax (Norway), Golden Omega (Chile), Kinomega (China), Sinomega (China), BASF (Germany), Lonza (Switzerland), Huatai Biopharm (China), KD Pharma (Germany), Runke Bioengineering (China), Nordic Naturals (US), Algisys (US), Biosearch Life (Spain), and Corbion (Netherlands).

These players have emerged as key players in recent years, due to various strategic investments, acquisitions, and product launches in emerging markets of omega-3. These strategic developments have challenged the status quo of the industry leaders, and it was prudent to analyze the changing business landscape.

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Case Studies/Commercialization of Concepts/New Use Cases

Use of spray drying technology is cost-effective over emulsion-based technologies for microencapsulation of omega-3 fatty acids. Several market players are expanding their portfolios into microencapsulated omega-3 products to achieve future revenue mix. Here are a few instances:
- Skuny Bioscience (China) has launched microencapsulated powder of omega-3 under the brand name, Megafullife,which is produced from plant-based sources.
- Functional Mikron (Brazil) has launched microencapsulated powder of omega-3 in order to achieve higher bioavailability in the products.
In 2016, the Marine Ingredients Organization published a report stating that the fishing of anchovy is reduced due to the feed and fish stock management. Due to this, fish oil production is reducing at the rate of 900/800,000 metric tons per year.

These studies are considered as new use cases, which are influencing the growth rate of theomega-3market significantly.

New data points/analysis(frameworks) that were not present in the previous version of the report

During the production cycle of the report, in-depth interviews were conducted with various primary respondents, which include key opinion leaders, subject matter experts, directors, and C-level executives of the demand-side and supply-side stakeholders of the omega-3 market, to obtain and verify critical qualitative and quantitative information. This primary data was collected mainly through questionnaires, emails, and telephonic interviews.
The recent developments of the top 39 players offering omega-3were mapped in the new edition of the report, to understand and forecast future growth trends.
Comprehensive analysis of market dynamics such as drivers, restraints, opportunities, and challenges was also added to this report.
Regulatory data is provided in this version of report.
Fish oil production data for various countries is also provided in the current version of the report.

Soil Aerators Market Emerging Trends, Growth and Opportunities to 2023

The soil aerators market is estimated to be valued at USD 24.03 billion in 2018 and is projected to reach 33.01 billion by 2023, at a CAGR of 6.6% from 2018. The market is driven by the shrinking arable land, population growth &increase in demand for food, increase in net farm income due to mechanization, and a shift toward organic farming. Small and fragmented land holding restricting the usage of heavy farm equipmentis the major restraint for the growth of this market.

Secondary tillage segment projected to grow at the highest CAGR

The secondary tillage segment is estimated to dominate the market for soil aerators in 2018.It is also projected to grow at the highest CAGR during the forecast period. Improving the seedbed by finer crushing of the soil, conserving moisture &reducing evaporation, cutting crop residues &destroying weeds, and breaking soil lumps, and firming the top soil so that the seedbed is in a better condition for seeding and germinationhas been propelling the importance of soil aerators;this,in turn, is driving the market for soil aerators.

Asia Pacificset to lead thesoil aerators market with the largest share

The Asia Pacific market is estimated to be the largest in 2018, owing to the rising urbanization and standard of living, an increase in footfall, overgrazing by livestock, the pressure exerted by heavy equipment, climatic conditions, strong government support through subsidies, and increased productivity requirements. The major factors driving the Asia Pacific market for soil aerators are the growth in farm mechanization levels, for both, the agricultural and non-agricultural sector, and reduced cost of production.The Asia Pacific market is projected to grow atthe highestCAGR from 2018 to 2023 and is driven by China, Japan, India,and Australia.

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Key soil aerating service providing players include the following:

Deere & Company (US)
Alamo (US)
AGCO Corporation (US)
CNH Industrial (UK)
Mahindra & Mahindra (India)
Bucher Industry (Switzerland)
Buhler Group (India)
Evers Agro (Netherlands)

The key players in the soil aerators market adopted acquisitions as their key growth strategy to increase their market share and profits. Expansions and investmentswasthe second most important growth strategy to be adopted by market players.

Research Coverage

The report analyzes the soil aerators market across different types of equipment and regions. It aims at estimating the market size and future growth potential of this market across different segments such as mechanism, mode of operation, application,and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.

Reasons to buy this report:

To get a comprehensive overview of the global soil aerators market
To gain wide-ranging information about the top players in this industry, their service portfolios, and key strategies adopted by them
To gain insights of the major countries/regions in which the soil aerators market is flourishing

Gelatin Market– This is How COVID-19 is Impacting Global Industry

The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Gelatin Market. We are working diligently to help companies take rapid decisions by studying:

The impact of COVID-19 on the Gelatin Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
The rapid shifts in the strategies of the Top 50 companies in the Gelatin Market
The shifting short-term priorities of the top 50 companies’ clients and their client’s clients

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The global gelatin market size is projected to grow from USD 2.6 billion in 2018 to USD 3.6 billion by 2023, at a CAGR of 6.6% during the forecast period. Growing demand for functional and convenience food & beverage products and rising preferences for clean-label products are projected to drive the market for gelatin.

Europe is projected to hold the largest market share during the forecast period.

Europe is estimated to account for the largest share of the market in 2018. The presence of a large number of food & beverage companies presents the European gelatin market with a prominent consumer base. The ample availability of raw materials and high dependence of the European population on these sources pose as drivers for the growth of the gelatin market in the region. The growing demand for convenience and functional foods in Europe due to fast-paced lifestyles and health-conscious consumers, along with the growing pharmaceutical industry presents growth opportunities for the gelatin market.

The wide usage of porcine gelatin in various food & beverage products has influenced the demand for porcine gelatin, globally.

Pork is one of the widely used and most important sources for gelatin manufacturing, worldwide. It is widely used in the food & beverage industry for different application areas such as snacks, bakery & confectionery, and meat products. The demand for porcine gelatin is stimulated by factors such as its wide availability and BSE crisis in the European region. Furthermore, it is widely preferred across regions because of its manufacturing process as it requires a short period for pretreatment and generates lesser wastewater as compared to other sources.

The major gelatin vendors include Darling Ingredients (US), Gelita (Germany), Nitta Gelatin (Japan), Tessenderlo Group (Belgium), Weishardt (France), Trobas Gelatine (Netherlands), India Gelatine & Chemicals (India), Lapi Gelatine (Italy), Junca Gelatines (Spain), Sterling Biotech Group (India), Italgelatine (Italy), and Gelnex (Brazil). These players have adopted various growth strategies such as expansions & investments and new product launches to expand their presence in the global gelatin market. Expansions & investments are the most dominating strategy adopted by major players. This has helped key players to increase their presence in different regions.

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Darling Ingredients is one of the major companies involved in the manufacturing of natural ingredients from edible and inedible bio-nutrients. It serves a wide range of applications including food, health & pharma, feed, pet food, fuel, bio-energy, and fertilizer. The company has its processing units in over 200 countries across the globe. It operates through three business segments, namely, feed ingredients, food ingredients, and fuel ingredients. It offers gelatin under its food ingredients segment. The company’s gelatin products and solutions are manufactured by Rousselot (France). Rousselot is a leading market provider of gelatin and hydrolyzed collagen for the food, nutrition, pharmaceutical, and technical industries with operations across Europe, China, South America, and the US.

The company focuses on new product launches and acquisitions to increase its product offerings mainly in the gelatin segment to provide advanced solutions to the food and pharmaceutical industries. Rousselot launched a new range of medical grade gelatin “X-pure,” which is useful for in-body applications.

Furthermore, Tessenderlo Group is involved in providing specialty solutions for applications in food, agriculture, water management, and efficient use and re-use of natural resources. PB Gelatins/PB Leiner is a subsidiary of Tessenderlo Group, which produces a complete range of gelatin, hydrolysates, and collagen peptides that are used in food processing. Globally, the company has its presence in more than 100 locations across the globe, which covers various regions including Europe, South America, North America, Asia, and Rest of the World (RoW). The company operates its business through three major segments, which include agro, bio-valorization, and industrial solutions. It offers gelatin products under its bio-valorization segment. The company has been focusing on offering gelatin products to food & beverage and pharmaceutical manufacturers. In April 2016, PB Leiner, a part of Tessenderlo Group, entered into a collaboration with Viachem (US) for the sales, marketing, and distribution of collagen hydrolysates and specialty gelatin products.

Analysis of the COVID-19 impact on the Lutein Market

The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Lutein Market. We are working diligently to help companies take rapid decisions by studying:

The impact of COVID-19 on the Lutein Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
The rapid shifts in the strategies of the Top 50 companies in the Lutein Market
The shifting short-term priorities of the top 50 companies’ clients and their client’s clients

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Lutein is an important carotenoid antioxidant that is used for protecting eye health. It is also used in animal feed to color the poultry skin and egg yolks to strengthen the immune system, reduce cellular aging, and protect against age-related eye diseases.The overall growth of the lutein market is driven by the rise in demand for its usage as an eye health supplement andits increased usage as an animal feed additive and as a natural colorant; and its usage in other healthcare and nutraceuticals applications.

EMERGING APPLICATIONS OFFER ATTRACTIVE OPPORTUNITIES IN THE LUTEIN MARKET

The global market for lutein is projected to reach USD 357.7million by 2022, recording a CAGR of 6.3%

On the basis ofform, the powder & crystallinesegment is projected to dominate the lutein market. Lutein is mainly used in the powdered form, as it is easy to use and can be added to various solutions and liquids in the livestock feed, food, and cosmetics industries. Furthermore, the powder & crystalline form of lutein reduces eye fatigue and glare sensitivity; strengthens eye tissue; supports brainfunction and enhances memory; maintains heart health; and protects skin health.

Dietary supplements – the most promising market for lutein in the next five years

With the aging population, people are becoming more conscious and aware of age-related problems. Cataracts and age-related macular degeneration (AMD) are the major illnesses faced by aged people, which cause visual impairment and acquired blindness. This is due to the lack of intake of sufficient nutrients, such as green leafy vegetables and egg yolks. This concern has boosted the demand for health supplements, thus fueling the growth of the lutein market.

Furthermore, consumers have become aware of the alternative channels to self-diagnose themselves and also take preventive measures to remain healthy. Such practices are significantly increasing the demand for supplements, globally, which, in turn, drives the consumption of lutein.

THE DIETARY SUPPLEMENTS SEGMENTDOMINATED THE LUTEIN MARKET IN 2017

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Geographical Prominence

The European region is estimated to account for the largest market share in the global lutein market. This market is also projected to grow at a CAGR of 4.3 % from 2017 to 2022 to reach USD 130.2 million by 2022 moderately. The market for Asia Pacific is expected to register the highest growth during the forecast period, owing to the increase in health awareness and rise in penetration of functional food and dietary supplements. Furthermore, the market is growing due to the rising demand for eye supplements in the healthcare sector. The rise in the prevalence of diseases such as heart diseases, diabetes, obesity, and stroke are also expected to drive the demand for lutein dietary supplements, which include minerals, fatty acids, and vitamins.

PROJECTED GROWTH RATE OF THE GLOBAL LUTEIN MARKET, BY REGION, 2017–2022

Conclusion

Globally, lutein finds application in various industries due to its nutritional benefits and pigmentation properties. Lutein is extensively used as an additive to provide food colors, either by directly applying them to food products or indirectly adding them to animal feed. Due to its medicinal properties, lutein is widely used in pharmaceuticals for preventive medicines in eye care, cardiac diseases, diabetes, and skincare. It is currently extensively used in health supplements due to the rising demand for the same by health-conscious customers.

Considering the importance of supplementation, globally, major companies are increasingly inclined to invest in scientific research to develop new applications for lutein that can help improve human health. Key players in this market have adopted various strategies such as expansions, acquisitions, new product launches, among others,to expand their global footprint and increase their product offerings to capture the market share. The lutein market is competitive, with many large players such as BASF (Germany), Chr. Hansen (Denmark), E.I.D. Parry (India), Kemin (US), Zhejiang Medicine (China), and OmniActive (India) who focus on expanding their market base in this field.

Pet Food Processing Market worth $6.2 billion by 2026

The report “Pet Food Processing Market by Type (Mixing & Blending Equipment, Forming Equipment, Baking & Drying Equipment, Cooling Equipment, Coating Equipment), Form (Dry, Wet), Application (Dog Food, Cat Food, Fish Food), and Region – Global Forecast to 2026”, is projected to grow from USD 4.4 billion in 2019 to USD 6.2 billion by 2026, recording a CAGR of 5.0% during the forecast period. The major factors driving the growth of the Pet Food Processing Market include the increasing trend of pet food product premiumization, rising pet adoption, and acceptance of pets across regions.

The wet segment is projected to be the fastest-growing segment in the pet food processing market during the forecast period.

The increasing demand for wet pet food products is mainly due to its high nutritional content and the presence of animal-based proteins, which is essential for the development of pets. Though it is less economical, the increasing trend of pet humanization and product premiumization has encouraged increasing demand for premium and high-quality pet food products among pet owners. These factors are projected to drive the growth of the wet segment in the pet food processing market.

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

The dog food segment is projected to account for the largest share in the global pet food market. The increasing population of dogs and the rising trend of pet humanization have encouraged dog owners to accept them as companions, which is projected to drive the demand for premium dog food. These factors are projected to drive the growth of the overall pet food processing equipment market. Dogs have the largest population among other pets globally. Pet owners are witnessing an increasing trend of purchasing premium-priced and nutrition-rich pet food products and prefer opting for high-quality food for their pets. Due to these factors, the dog food segment is projected to account for the largest market share.

The forming equipment segment is projected to account for the largest share in the pet food processing market during the forecast period.

The forming equipment segment is projected to account for the largest market share due to the increasing demand for extrusion solutions and increasing application in the pet food processing market. Some of the major extrusion equipment manufacturing companies in the pet food industry are Buhler AG (Switzerland), Baker Perkins Ltd. (UK), and Clextral SAS (France). The introduction of innovative extrusion machinery for manufacturing customized pet food has encouraged manufacturers to opt for extrusion-based manufacturing, which is projected to drive the growth of the forming segment. In addition, this segment is projected to account for the largest market share during the forecast period.

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The Asia Pacific region is projected to be the fastest-growing market for pet food processing during the forecast period.

The Asia Pacific region is projected to be the fastest-growing market for pet food processing during the forecast period. The region witnesses a high demand for pet food products due to the increasing acceptance of pets. The rising concerns among pet owners regarding the health of pets have led to an increase in demand for high-quality pet food products that require specialized machinery. These factors are projected to create growth opportunities for equipment manufacturers in countries such as India, China, Japan, and Thailand.

The pet food processing market comprises major players, such as Andritz Group (Austria), Buhler Holding AG (Switzerland), The Middleby Corporation (US), GEA Group (Germany), Baker Perkins Ltd. (UK), Clextral SAS (France), Precision Food Innovations (US), Mepaco Group (US), Coperion GMBH (Germany), F.N. Smith Corporation (US), Reading Bakery Systems (US), and Selo (Netherlands). The study includes an in-depth competitive analysis of these players in the pet food processing market, with their company profiles, recent developments, and the key market strategies.

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Outlook on Key Players in the Gelatin Market

he global gelatin market size is projected to grow from USD 2.6 billion in 2018 to USD 3.6 billion by 2023, at a CAGR of 6.6% during the forecast period. Growing demand for functional and convenience food & beverage products and rising preferences for clean-label products are projected to drive the market for gelatin.

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