The rise in the consumption of processed foods globally and the increasing prices of raw materials used for emulsifiers are the factors driving the food emulsifiers market. The food emulsifiers market is projected to reach USD 4.0billion by 2025, from USD 3.2billion in 2020, at a CAGR of 4.7%. On the basis of type, the lecithin segment in the food emulsifiers market is projected to grow at the highest rate from 2020 to 2025. This growth is attributed to the gradual shift towards decreasing the chemical content in processed foods by manufacturers due to the rising consumer awareness. Even though other types of emulsifiers are mostly naturally sourced, they tend to undergo further chemical treatment processing unlike lecithin, which does not require much processing. This is why it is perceived to be more natural than its other counterparts. These factors are responsible for the growing use of lecithin in various food applications, which include confectionery and convenience foods among others.

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On the basis of source, the plant segment is projected to witness faster growth during the forecast period. The high growth is attributed to the fact that plant-based emulsifiers are less harmful and more stable than animal-based emulsifiers. Also, the preference for plant-based emulsifiers is observed to be more than animal-based emulsifiers among food industry manufacturers.

Asia Pacific is projected to be the fastest-growing region in the food emulsifiers market from 2020 to 2025. The market here is majorly driven by the changing food consumption patterns in the region, owing to the rising income, especially in South Asian countries. Further growth can be attributed to the increasing urbanization in the region, which has resulted in an increasing demand for food security and quality food. Top companies are also investing largely in this region, in terms of expansion. Archer Daniel Midlands (US) opened a technical innovation center in Shanghai, China, to support the development of innovative, on-trend, and nutritious products to meet the growing food & beverage demand in Asia Pacific.

The food emulsifiers market is a developing one; it finds its applications in a number of food products, increasingly finding favorability amongst food & beverage product manufacturers, whereby these additives could be used to maintain better product structure integrity and a longer shelf-life. Manufacturers could successfully use different emulsifiers to create products having consistent structure and texture, which could further help to improve their product offerings and market preferability. To produce food in greater quantities, the requirement for food additives such as food emulsifiers will automatically increase. According to the International Association of Agricultural Economist, the demand for food is projected to grow from 59% to 98% by 2050. Also, there has been an increase in the demand for quality food, without compromising on the quantity across the globe. Food manufacturers are using food emulsifiers as economical additives to produce quality products, which, in turn, drives the market growth.

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According to MarketsandMarkets, the global bakery processing equipment market size is estimated to be valued at USD 8.9 billion in 2020 and is projected to reach USD 11.4 billion by 2025, recording a CAGR of 5.0% in terms of value. Emerging markets in upcoming economies such as Asia Pacific and South American countries is going to be a potential market for the bakery processing equipment manufacturers. Factors such as the increasing number of artisan bakeries and quick service restaurants (QSRs) and upgradation of technology in bakery are projected to drive the growth of the bakery processing equipment market during the forecast period.

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Based on end user, the market segmentation includes bakery processing industry and foodservice industry. The foodservice industry segment is projected to witness the fastest growth from 2020 to 2025. The foodservice industry consists of various service chains such as restaurants, QSRs (quick service restaurants), hotels, bakery café chains, and food & beverage chains. Of these, QSRs or fast food restaurants are dominating the food service segment in the bakery processing equipment market due to the high contribution of QSR chains such as McDonald’s, Starbucks, Subway, Burger King, Wendy’s, Taco Bell, Dunkin Donuts, Pizza Hut, KFC, and Domino’s. The food service industry uses frozen bakery food items on a regular basis to save time in cooking, which thus, reduces the time taken by the food item to reach the customer’s table. Frozen bakery food offers both quality and taste, which is the same as traditional baked food items; thus, it fulfills customer expectations. The global foodservice industry is growing at a faster pace due to the high demand for fast food, the increase in the population of working women, rise in disposable income levels, and the growing number of food delivery channels.

The bakery processing equipment market in the Asia Pacific is projected to witness the highest growth between 2020 and 202. The industrial growth in the region over the years, followed by improvements in the bakery industry, has created new opportunities for the bakery processing equipment market. The growing middle-class population in the region, increasing disposable income among customers, and demand for bakery items that offer on-the-go consumption are driving the growth of the bakery processing equipment market. The per capita consumption of bakery processing equipment in the Asia Pacific region is increasing due to emerging economies such as China, India, and Indonesia. A large number of bakery companies have expanded their manufacturing facilities in these countries, which has also driven the market for bakery processing equipment. For instance, in February 2019, The Haas Group (Austria), which was acquired by Bühler, expanded in India by adding an oven manufacturing plant to its service and support facility in the country. In addition, in November 2016, Reading Bakery Systems (Markel Food Group) continued its expansion across the Chinese and South-East Asian markets due to the increasing demand for bakery products from the customers in the region, along with providing a platform for developing baked snack systems.

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The biofungicides market isprojected to grow at a CAGR of16.1% from 2020 to 2025.The global biofungicides market size is estimated to account for USD 1.6billion in 2020 and is projected to grow at a CAGR 16.1%, to reach a value of USD 3.4billion by 2025. The increase in preference for organic farming practices and the rise in the adoption of integrated pest management practices are factors driving the growth of the market. The increasing awareness among farmers about the negative effects of synthetic plant protection products and the cost-effectiveness of biofungicides are also encouraging the adoption of these products across the globe.

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The microbial species segment, by type, is projected to be the fastest-growing in the biofungicides market during the forecast period 

The increasing importance of sustainable agriculture and awareness among farmers about the toxicity of chemical fungicides and its harmful effects on the environment are some of the factors, due to which microbial biofungicides are becoming popular. The actions of microbial biofungicides are specific to target pests and do not harm beneficial microorganisms, which promotes the growth of the plant.

By crop type, the fruit & vegetables segment is projected to be the fastest-growing in the biofungicides market during the forecast period
Increasing demand for organic fruits and vegetables hasresulted in higher use of biofungicides in this segment. Biofungicides not only help in protecting the crops during the growing season but also show the extended activity of protection during post-harvest storage and transport.

 By mode of application, the soil treatment is projected to dominate the biofungicidesmarket during the forecast period

One of the major advantages of using biofungicides as soil treatment is they ensure healthy seed germination by removing pathogenic fungal spores and mycelium that might be present in the soil. Increasing instances of the soil-borne fungal pathogen have led to a risein demand for soil treatment 

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Research Coverage
This report segmentsthebiofungicides marketonthe basis of type, form, species, crop type, mode of application,and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the biofungicidesmarket,the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.

The global hydroponic systems market is estimated to be USD 9.5 billion in 2020 and is projected to reach USD 16.6 billion by 2025.

Hydroponics produce higher yields compared to traditional farming, allow the growth of a high density of plants in the same area, and have the ability to grow crops throughout the year. Smart greenhouses offer different types of covering materials such as glass or plastic roof, and frequently, glass or plastic walls. It is an emerging application with high-growth potential, which uses several technologies such as HVAC systems, LED grow lights, communication technology, irrigation systems, material handling, valves & pumps, and control systems. LED grow lights and HVAC are the major shareholders in the smart greenhouse market. The increasing population and demand for food in developing regions such as the Asia Pacific boost the growth of the smart greenhouse market. The requirement for fresh food in the Middle East creates an opportunity for urban farming in the region. The increasing trend of rooftop farming and the rising population are two major drivers for the market.

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By type, the liquid subtype is projected to account for the largest market share in the hydroponic systemsmarket during the forecast period.

Liquid systems are, by their nature, closed systems; the plant roots are exposed to the nutrient solution, without any type of growing medium, and the solution is recirculated and reused. Thus these systems are most preferred in the developed countries for crop production and have huge growth potential in the future. Moreover, systems such as DWC and NFT have been studied for application in hybrid farming, combining aquaculture with hydroponics.

By equipment, the LED Grow Lights subtype is projected to be the fastest growing segment in the hydroponic systemsmarket during the forecast period.

The light spectrum emitted by LED lights has proven to be effective in stimulating plant growth and is witnessing increased demand from hydroponic growers. Plants such as tomatoes, lettuce, spinach, kale, strawberries, peppers, beets, and other vegetables can be grown with LED grow lights. The increasing adoption and demand for LED grow lights have resulted in the ban of older and inefficient halogen units in the European Union from September 2018. These factors are further projected to drive the demand for LED grow lights.

By input, the nutrientssub-segment is projected to dominate the hydroponic inputsmarket during the forecast period.

Nutrients are used in both aggregate, and liquid hydroponic systems. There are different types of nutrients required for the formulation of nutrient solution. Nitrogen and potassium are the two most primary nutrients required for the healthy growth of plants, of which nitrogen requirement is higher by plants. In addition, increasing the focus of growers toward the cultivation of crops drives the market growth for potassium-based nutrients in hydroponics.

By crop type, the vegetables sub-segment is projected to dominate the hydroponic cropsmarket during the forecast period.

Vegetables that are grown using hydroponics are known to grow faster and stronger compared to traditional farming as the right nutrients are delivered directly to the plant’s roots. The requirements for growing vegetables indoors in a hydroponic unit can be met with the help of grow lights, air ventilation, and recirculation systems, along with the right nutrients for the water. Hydroponically grown plants are known to retain their full nutritive value and are equal or in certain cases superior to conventionally-grown vegetables. There rising demand for fresh vegetables both in developed and developing nations drives the vegetable segment in hydroponics market.

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Leading players profiled in this report

·         Signify Holdings (Netherlands)

·         Heliospectra AB (Sweden)

·         Scotts Miracle Gro (US)

·         Argus Control Systems (Canada)

·         Logiqs B.V (Netherlands)

·         Lumigrow (US)

·         Hydroponic System International (Spain)

Research Coverage

This report segmentsthehydroponics market onthe basis of type, equipment, inputs and crop types and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the hydroponics market,the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.

The feed binders market isprojected to grow at a CAGR of3.0% from 2020 to 2025.

The global feed binders market size is estimated to account for a value of USD 4.5billion in 2020 and is projected to grow at a CAGR 3.0% from 2020, to reach a value of USD 5.1billion by 2025. The demand for feed binders is rising due to the increasing meat consumption,  growing awareness toward animal health, and rising meat production. To maintain structural integrity and reduce the loss of feed ingredients, feed manufacturers use feed bindersto maintain the high-quality of the meat products.

The governments shut down borders and economies for restricting the spread of the coronavirus. This resulted in businesses observing major impacts on their international trades. Many markets are focusing on fulfilling their requirements for feed additives, and feed binders by domestic companies. This is, however, causing an imbalance between the demand and supply quantities. However, some regions are completely dependent on imports and are facing tough situations.

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The lignosulfonatessegment, on the basis of type,is projected to be the largest segment during the forecast period.

By type, the lignosulfonates segment is projected to hold the largest share in the feed binders market. Lignosulfonates are the most commonly used feed binder as they are highly cost-effective and are utilized across various types of feed. The relatively low toxicity of lignosulfonates makes them a preferred binder among feed manufacturers. They are used to improve the feed properties of pellets. They also have the properties of emulsification and dispersing due to which they have been gaining popularity in the production of compound feed. Thus, lignosulfonates is projected to witness significant demand over the years.

The poultry segmentto witness the fastest growth during the forecast period.

By livestock, the feed bindersmarket is segmented into poultry, ruminants, swine, and other livestock(aquatic animals, pet animals, and equines).The per capita consumption of poultry meat is significantly higher than that of beef and pork due to the increasedbreeding of poultry birds and rising prices of red meat products as compared to poultry. The poultry sector is witnessing a shift in focus toward high-quality compound feed products due to the development of organized farm sectors. This has led to the increased usage of binders by poultry feed manufacturers to ensure the supply of high-quality and value-added feed products.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific is the fastest-growing region in the feed binders market due to the presence of some of the primary compound feed, feed additives, and feed binder producers in the world, such as China and India. Most of the South East Asian countries also focus on the production of feed binders due to the growing livestock population. The increasing trend of meat consumption in the Asia Pacific region has also led to the rise in the production of feed binders.

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Leading players profiled in this report

• Archer Daniels Midland Company (ADM)
• Roquette Freres
• Darling Ingredients, Inc.
• Ingredion, Inc.
• Gelita AG
• Kemin Industries, Inc.
• DuPont
• Borregaard ASA
• M. Huber Corporation

Research Coverage

This report segmentsthefeed binders marketonthe basis type, livestock,source and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the feed bindersindustry,the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.

Food diagnostics systems are designed to identify food contamination and quality parameters at various stages of a supply chain, such as storage, manufacturing, processing, and packaging. Food diagnostics include systems that detect the presence of contaminants and analyze the nutritional content of the food sample to help monitor the safety and quality of food samples. It also includes consumables such as reagents, disinfectants, and test accessories that are essential to perform food safety and quality tests and obtain accurate and specific results.

MarketsandMarkets expects the global food diagnostics market to grow from USD 13.5 billion in 2020 to USD 19.2billion by 2025, at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period.The increasing consumer awareness regarding food safety and increasing number of global food recall cases are some of the key factors that are projected to drive the growth of the food diagnostics market. However, high cost of rapid technologies such as spectrometry-based is a major factor inhibiting the market growth. Technological innovations in testing are projected to create opportunities for growth of food diagnostics market.

Hybridization-based systems are projected to dominate the market during the forecast period. High analytical precision, user-friendly procedures, and accurate output in food diagnosis are the major factors driving the growth of hybridization-based systems.

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The outsourcing facility segment, by site is projected to dominate the market during the forecast period. Cost-control, trained staff and state-of-the-art technologies are some of the major factors contributing to the growth of this segment.

In terms of geographical coverage, the food diagnostics market has been segmented into six regions, namely, North America, Asia Pacific, Europe, South America, Africa and Middle East. Europe is projected to dominate the market during the forecast period. Stringent regulations for food safety and recent foodborne outbreaks such as listeriosis outbreak in 2019 are some of the key factors driving the food diagnostics market in Europe.

 The report “Infant Formula Ingredients Market by Ingredient Type (Carbohydrates, Oils & Fats, Proteins, Vitamins, Minerals, Prebiotics), Application (Growing-up Milk, Standard Infant Formula, Follow-on Formula, Specialty), Form, Source, Region-Global Forecast to 2025″, is estimated USD 16.7 billion in 2019 and is projected to reach USD 25.5 billion by 2025, driven by its increasing demand from the developing Asia Pacific region. Urbanization has enabled mothers in this region to join workforce post giving birth, creating demand for infant formula and thus driving the demand for infant formula ingredients. Additionally, some mothers unable to lactate; in such cases, infant formula is the most suited alternative available in the market. Several key food companies offer infant formula. Of these, Nestlé S.A. (Switzerland) stands among the most renowned. Apart from this, infant formula ingredients companies are involved in R&D, to come up with suitable ingredients as per the requirements of consumers.

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The prebiotics segment is projected to be the fastest-growing in the infant formula ingredients market during the forecast period.

Usage of prebiotic ingredients in infant nutrition aids infant to overcome infections by providing health benefits. These include resisting gastrointestinal problems, building immunity, supporting increased mineral absorption, and lowering the tendency to become obese. Prebiotic ingredients used in infant formula include fructooligosaccharides, galactooligosaccharides, lactulose, polydextrose, and inulin. Boost in sales for infant formulas in the years to come will directly increase demand for infant formula ingredients. Asia Pacific is likely to exhibit high growth opportunities for infant formula manufacturers in the future owing to the adaptation of a fast-paced urbanized lifestyle urging women to join workforce post-delivery.

The liquid & semi-liquid segment is projected to record the fastest growth during the forecast period.

Oils & fats are the most widely used liquid and semi-liquid ingredients for manufacturing infant formula. The liquid & semi-liquid segment is expected to exhibit high growth prospects in Asia Pacific. In Japan, liquid infant formulas are preferred owing to their convenience in emergencies such as natural disasters that frequently occur in the country.

The growing-up formula (12 months & above) segment is projected to record the fastest growth during the forecast period.

The growing-up milk (12 months & above) contains calcium, vitamin D, and iron, and mostly serves as a part of a balanced diet for infants. Given during the transition phase from infant nutrition to family food, manufacturers offering infant formula for this particular age group are expected to witness high growth prospects, especially from Asia Pacific.

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Asia Pacific is projected to be the fastest-growing during the forecast period.

Asia Pacific infant formula ingredients market is projected to be the fastest-growing during the forecast period. Countries such as China, Japan, and South Korea are expected to be key revenue generators during the next few years. The region has seen a rapid transformation in terms of urbanization. This has enabled women to join workforce post-delivery, making infant formula the only nearest substitute to breast milk for infants. Apart from this, China remains a key market for infant formula ingredient manufacturers as the country has one of the highest numbers of births at the global level. The country relies on imported infant formulas from European countries.

This report includes a study of marketing and development strategies along with the product portfolios of leading companies in the sodium hypophosphite market. It consists of the profiles of leading companies such as AAK AB (Sweden), Fonterra Co-operative Group Limited (New Zealand), Carbery Food Ingredients Limited (Ireland), Royal Friesland Campina N.V. (Netherlands), Sachsenmilch Leppersdorf GmbH (Germany), BASF SE (Germany), Koninklijke DSM N.V. (Netherlands), Arla Foods amba (Denmark), Chr. Hansen Holdings A/S (Denmark), Kerry Group plc (Ireland), Lactalis Ingredients (France), Glanbia plc (Ireland), and Vitablend Nederland B.V. (Netherlands).

The inoculants market is estimated to reach USD 924 million in 2020 and is projected to account for USD 1,207 million by 2025, recording a CAGR of 6.9% during the forecast period.Environmental concerns related to the use of chemicals and fertilizers, expansion of the livestock industry in emerging countries of South America and Asia Pacific and rise infeed grain prices are some of the key factors that are projected to increase the sales of agricultural inoculants in the coming years.

Based ontype,the silage inoculantssegment accounts for the largest share in the inoculants market in 2019. Sales of silage inoculants are on a rise due to the expansion of the livestock industry in several emerging countries across Asia Pacific and South America. Urbanization has also increased the sales of animal-based products, such as milk, eggs, and meat.With the rise in prices of feed grains, agricultural inoculants serve as a suitable alternative.

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Based onmicrobe, the bacterial segmentaccounted for the largest share in the inoculants market in 2019. Bacterialmicrobesserve as an alternative to increase crop productivity and reduce the use of fertilizers. Bacterial characteristics such as biological nitrogen fixation is known to promote the plant growth.These microbes improvise the nutrient intake, reduce plant diseases and pests, and enhance the quality of the plant.

Based on crop type,the cereals & grainssegment accounts for the largest share in the inoculants market in 2019.Cereals and grains include wheat, corn, barley, and rice crops. Countries such as Brazil and the US are projected to be the key revenue generators for cereals, as they are ranked among the largest producers and exporters of corn at a global level.

North America was the largest market for inoculants in 2019, followed by Europe. The growth of the market in the region is backed by the US, which is among the largest producers of corn and soybean at a global level. Due to these factors, the demand for inoculants remain high in this region. Soybean, being leguminous, responds well to inoculants such as rhizobacteria. The high production of soybeans in the country has further increased the overall production of oilseeds and pulses in the North American region, which has led to a surge in the consumption of agricultural inoculants for these crops.Apart from this, Canada ranks among the key pulse producing countries.According to Pulse Canada, in 2016, Canadian pulse production hit a high record of 8.4 million tonnes. Due to the occurrence of hypoxia in Mexico, the usage of synthetic chemicals and pesticides in farms is strictly regulated.Hence, the agricultural inoculants market is projected to witness a high growth in this country.

Inoculantmanufacturers are focusing on expanding their consumer base in the market. Leading players operating in the inoculants market includeCorteva (US), BASF (Germany), Bayer (Germany), Novozymes (Denmark), Verdesian Life Sciences (US), Advanced Biological Marketing Inc. (US), BrettYoung (US), Precision Laboratories, LLC  (US), Queensland Agricultural Seeds Pty (Australia), and XiteBio Technologies Inc. (Canada). Apart from this, other key players include Chr. Hansen (Denmark), Lallemand Inc. (Canada), Kemin Industries, Inc (US), Provita Supplements GmbH (Germany), Cargill (US), Archer Daniels Midland Company (US), BIOMIN Holding GmbH (Austria), Terramax (US), BIO-CAT Microbials (US), and MBFi (South Africa).

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The global feed binders market is estimated to account for a value of USD 4.5billion in 2020 and is projected to grow at a CAGR 3.0% from 2020, to reach a value of USD 5.1billion by 2025. The feed binders market is projected to witness significant growth due to the increasing need for improving the quality of feed provided to the livestock. Innovative techniques are being developed to manufacture different feed binder products to capture the untapped potential of the market. The need to increase food production for domestic consumption, as well as for exporting among developing countries,have led to an increase in demand for agricultural inputs and feed rations. The increasing trend of meat consumption in the AsiaPacific region has further led to a rise in the production of compound feed, which has further driven the demand for feed binders.

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Leading players profiled in this report:

•             Archer Daniels Midland Company (ADM)

•             Roquette Freres

•             Darling Ingredients, Inc.

•             Ingredion, Inc.

•             Gelita AG

•             Kemin Industries, Inc.

•             DuPont

•             Borregaard ASA

•             J. M. Huber Corporation

•             BENEO

•             Uniscope, Inc.

•             Avebe U.A.

Market Dynamics

Driver: Strong growth in the compound feed industry

The feed sector plays a crucial part in addressing global food and agriculture issues. Feed manufacturers are becoming more aware of the need to increase the nutritional value of feed products to improve the digestibility of animals to optimum levels. According to the FAO, global compound feed production has been estimated to be about 1 billion tonnes every year. Compound feed can be defined as the final feed product made up of various raw materials and additives. Additives are added to the feed to enhance their nutritional value, shelf-life, and quality. The compound feed industry is growing at a very fast pace, which fuels the need for the development of new additives in the feed market.

Restraint: Price volatility and availability of raw materials

Binding agents, such as guar gum, corn starch, agar, carrageenan, and gelatin, are highly effective binders but are very expensive to include in the feed. To optimize the cost of feed ingredients, compound feed mixers, or livestock, farmers opt for binders with high-cohesive properties to reduce the amount of inclusion as well as to limit the cost. Cost-effective binders, such as lignosulphonates and clay, are moderately expensive, with very low inclusion levels from 0.2% to 0.8%. Feed products are mostly formulated and designed by limiting the overall cost to sustain their market presence. The prices of raw materials can increase based on the source, extraction process, or the chances of availability in the region.

Opportunity: Increased popularity of natural solutions for pet food nutrition

Owners of pets remain very sensitive and concerned about the quality, safety, and source of the ingredients involved in the manufacturing of pet food. The trend of keeping pets is also gaining pace these days. According to Agriculture and Agri-Food Canada, 2013, the US has the largest population of pets and has one of the largest pet food markets worldwide. In 2018, Agriculture and Agri-Food Canada quoted the value of the pet food market in Europe, which was worth USD 24.1 billion. It is projected to reach USD 28.1 billion by 2022, with an estimated CAGR of 3.5% from 2018 to 2022. This implies that pet owners are looking for premium products for their pets.

Challenges: Low-quality products can be a challenge in developing economies

Low-quality products are used by some regional or local manufacturers to reap the benefits of the growing demand for compound feed. Duplicate and low-quality products can create health issues in the livestock and are a big concern for producers. There are many small players in the developing markets of Asia Pacific that offer compound feed without any brand name, and somehow increase their profits by selling unauthorized duplicate products. These local manufacturers attract feed consumers by offering lower prices for their low-quality compound feed.

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Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific is the fastest-growing region in the feed binders market due to the presence of some of the primary compound feed, feed additives, and feed binder producers in the world, such as China and India. Most of the South East Asian countries also focus on the production of feed binders due to the growing livestock population. The increasing trend of meat consumption in the Asia Pacific region has also led to the rise in the production of feed binders.

Research Coverage

This report segmentsthefeed binders marketonthe basis type, livestock,source and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the feed bindersindustry,the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.

“The lactose-free productsmarket isprojected to grow at a CAGR of8.7% during the forecast period.”

According to MarketsandMarkets, the lactose-free products market is estimated to be valued atUSD 12.1billion in 2020and is projected to reach USD 18.4billion by 2025, recording a CAGR of 8.7%, in terms of value. Factors such as the increasing awareness of lactose intolerance among consumers across regions andthegrowing demand for reduced added sugar or no added sugar productsare projected to drive the growth of the lactose-free productsindustry during the forecast period. However, the growth of the lactose-free productsmarket is inhibited by factors, such ashigh cost of lactose-free products and stiff competition from plant-based alternatives.

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“By type, the milksegmentis projectedtohold the largest sharein the market during the forecast period.”

Milk in general is amongst the most commonly consumed dairy products globally. Lactose- free milk is a rich source of protein, calcium, phosphorus, vitamin B12, riboflavin, and vitamin D. Lactose-free milk is produced by adding lactase to regular cow’s milk. The lactose-free milk tastes sweeter than regular milk because during the process of production lactase is added to lactose-free milk that helps in breaking down of lactose into two sugar forms namely; glucose and galactose. This is the key factor driving the growth of milk segment in lactose-free products market.

“By form, the no added sugar or reduced sugar claims segment is estimated to the fastest growing segment during the forecast period.”

By form, the no added sugar or reduced sugar claims segment is projected to be the fastest-growing segment. Due to the increase in awareness about health concerns, such as obesity and diabetes, consumers witness a high demand for no added sugar or reduced sugar products. For catering to the changing demands of consumers, many players in the dairy industry are focusing on introducing lactose-free dairy products with reduced added sugar or no added sugar claims. The trend of using reduced added sugar or no added sugar drives the lactose-free products market.

“By Category, Organic segment is projected to be the fastest-growing segment during the forecast period.”

The change in consumer perceptions toward healthy eating, increasing health consciousness among consumers, and growing awareness about the nutritional benefits of organic products have encouraged the growth of organic lactose-free products market. The increase in consumer consciousness about clean products and concerns about health issues related to artificial products and health benefits pertaining to naturally produced organic food products are factors encouraging the growth of the organic lactose-free products market.

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“The Asia Pacific regionis projected to grow at the highest CAGR during the forecast period”

The Asia Pacific region is projected to be the fastest-growing market during the forecast period. The significant growth of the economy in countries, rapid urbanization, an increase in demand for premium and healthy food & beverage products, and the increase in the westernization of consumer diets are some of the major factors driving the growth of lactose-free products in the region.

The lactose-free productsmarketis segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, South America,and RoW (Africa and the Middle East)

Leading players profiled in this report include the following:

• Gujarat Cooperative Milk Marketing Federation (India)            
• Valio LTD (Finland)             
• Danone Company S.A. (France)      
• Nestlé (Switzerland)          
• The Coca-Cola Company (US)
• Johnson & Johnson Services, Inc. (US)
• General Mills, Inc. (US)      
• Lifeway Foods, Inc. (US)    
• Lala U.S., Inc. (US)              
• Organic Valley (US)             
• Dairy Farmers of America, Inc. (US)
• Dean Foods (US)
• Shamrock Foods (US)       
• Saputo Inc (US)   
• Prairie Farms Dairy (US)    
• Agri-Mark, Inc. (US)             
• SmithFoods, Inc. (US)        
• GranlatteSocietaCooperativa Agricola ARL (Italy)        
• Meggle (Germany)
• Drums Food International Pvt Ltd (India)

Research Coverage

This report segmentsthelactose-free productsmarketon the basis oftype, form, category, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape,pricing insights, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the lactose-free productsmarket, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.