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.

 “Innovations & Developments in plant-based protein augmenting the vegan trend, which in turn driving the market for plant-based protein.”

The global plant-based protein market size is projected to grow from USD 10.3billion in 2020 to USD 14.5billion by 2025, in terms of value, recording a compound annual growth rate (CAGR) of 7.1% during the forecast period. Some of the major factors driving the growth of theplant-based proteinmarket include growing demand in the food industry, increasing demand for pea-based protein, and the opportunity to expand in the high growth potential markets.

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“The foodsegmentis projected to dominate the plant-based protein market throughout the forecast period.”

The food segment is projected to dominate the plant-based protein market, by application, in terms of value,due to their extensive use in human nutrition.Plant-based proteinis incorporated in food to add nutritional value to various food products. Different product sources are developed into types such as isolates, concentrates, and even textured proteins, which can be utilized in different types of plant-based foods, including dairy and meat alternatives, ready meals, confectionery, and other food types.

“The liquidsegment is projected to grow at the highest growth rate during the forecast period.”

The liquid segment is projected to grow at the highest growth rate due to its major use in plant-based dairy, food & beverages, and nutritional supplements such as shakes and other healthy beverages. Wet/liquid form of processing is a mainstream technology used for producing plant-derived protein isolates. This form of processing involves the consumption of copious amounts of water and energy. During the extraction of the protein, the source crop is dispersed in water so that other components, such as carbohydrates, are also extracted through ultrafiltration or iso-electric precipitation. With the growing demand for plant-based protein in the food and feed segments, the demand for plant-based protein that is obtained through wet processing is projected to remain high during the forecast period.

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“Asia Pacificis projected to record the highest growth during the forecast period.”

The Asia Pacificregion is projected to record the highest growth during the forecast period. The risingvegan food consumption has led to anincreased demandfor plant-based food.  The feed sector is also growing in countries such as China, India, and Japan, which aids the growth of the plant-based marketin the region.Some of the leading players operating in the region include Herblink Biotech Corporation (China)and ET Chem (China). Apart from regional manufacturers, major foreign players such as Cargill(US), DSM (The Netherlands), and ADM (US)have established their production and research & development facilities in countries in the Asia Pacific region.

The plant-based protein marketcomprises major players,which includeDSM (Netherlands), ADM (US), DuPont (US), Kerry Group (Ireland), Cargill (US), Glanbia (Ireland), Wilmar International (Singapore), Emsland Group (Germany), Puris (US), Cosucra Group (Belgium), Batory Foods (US), Roquette Freres (France), Ingredion (US), BurconNutracience (Canada), Sotexpro (France), AGT Food & Ingredients (Canada), Beneo (Germany), ProlupinGmbh (Germany), Aminola (Netherlands), Herblink Biotech Corporation (China), ET  Chem (China), Shandong Jianyuan Group (China), The Greenlans LLC (US), and Parabel (US)

“The hydrocolloids market is projected to grow at a CAGR of 5.3%.”

The hydrocolloids market is estimated to be valued at USD 9.7 billion in 2020 and is projected to reach USD 12.6 billion by 2025, at a CAGR of 5.3% from 2020 to 2025. The growth of the hydrocolloids market is driven by factors such as the expansion of the processed food industry due to the increase in demand for convenience foods in the emerging countries of the Asia Pacific, South America, and the Middle East & African regions. Key drivers for the market’s growth include a robust R&D base, as manufacturers are focusing on with product innovations to offer high-quality hydrocolloids for the end-user industries and the multifunctionality of hydrocolloids.

The key hydrocolloids manufacturing players include the following:

• Archer Daniels Midland Company (US)
• DuPont (US)
• Cargill (US)
• Kerry Group Plc. (Ireland)
• Ingredion Incorporated (US)
• Palsgaard A/S (Denmark)
• Tate & Lyle (Ireland)
• Koninklijke DSM N.V. (Netherlands)

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“The thickeners segment for hydrocolloids is estimated to account for the largest share in 2020.”

The hydrocolloids markets, by function, is estimated to be dominated by the thickeners segment in 2020. Hydrocolloids are widely used as thickeners in various food products such as soups, salad dressings, gravies, sauces, and toppings. Key hydrocolloids used as thickeners include xanthan gum, guar gum, locust bean gum (LBG), gum Arabic, and carboxymethyl cellulose (CMC).

“The animal segment isestimated to account for the largest share in 2020”

The hydrocolloids market, by source, is estimated to be dominated by the animal segment in 2020. Hydrocolloids of animal origin are produced using skins and bones of different sources, such as beef, pork, and fish. Gelatin is one of the major hydrocolloids derived from animal sources having applications in the confectionery industry.

“The gelatin segment for hydrocolloids is estimated to account for the largest share in 2020.”

The hydrocolloids market, by type, is estimated to be dominated by the gelatin segment in 2020. Gelatin is derived from animal sources and has applications in food products such as candies, desserts, marshmallows, and ice creams. In Europe, gelatin is classified as food and is not subjected to food additive legislation. This is projected to create a lucrative opportunity for hydrocolloids manufacturers in the coming years.

“The food & beverages segment for hydrocolloids is estimated to account for the largest share in 2020.”

The hydrocolloids market, by application, is estimated to be dominated by the food & beverage segment in 2020.The demand for hydrocolloids is projected to increase in the coming years due to its multifunctionality in the food industry and the rise in demand for convenience foods in emerging countries. 

“North Americais projected to witness significant growth in the hydrocolloids market.”

The North Americanhydrocolloidsmarket is projected to witness significant growth with higher CAGR during the forecast period. due to the presence of major players such as Ashland (US), TIC Gums (US), CP Kelco (US), Cargill (US), Ingredion (US), and Darling Ingredients (US) operating in the region. The region is backed by the US, a major revenue pocket market for bakery, confectionery, convenience food, and packaged food products.

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Research Coverage

The report analyzes the hydrocolloids market along with hydrocolloids market across different types and regions. It aims at estimating the market size and future growth potential of this market across different segments such as type (gelatin, pectin, carrageenan, xanthan, agar, arabic, locustbean gum, carboxymethyl cellulose, alginates, guar gum, and microcrystalline cellulose);source (botanical, microbial, animal, seaweed, and synthetic); application (food & beverages, cosmetics & personal care products, and pharmaceuticals);function (thickeners, stabilizers, gelling agents, coating materials, fat replacers, and others) and region. 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.

The global hydroponics market is estimated to account for a value of USD 9.5billion in 2020 and is projected to grow at a CAGR 11.9% from 2020, to reach a value of USD 16.6billion by 2025.  The hydroponics market is projected to witness significant growth due to the increasing need for components installed for crop cultivation, the input nutrient and grow media for hydroponic systems, and the value of crop cultivated from these systems. Based on the system model, the hydroponic systems market can be classified into aggregate and liquid systems, wherein aggregate systems utilize a grow media for plant growth support and nutrition, while liquid hydroponic systems do not require a grow media. Owing to the higher efficiency and productivity obtained, liquid systems have been in high demand amongst growers for vegetable cultivation. The European hydroponic systems market is driven by the growing adoption of CEA for horticultural crops and increasing development of new innovative technologies that target specific crop needs.

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By type, the hydroponic systems market is segmented into aggregate systems and liquid systems. Aggregate systems are further divided into Ebb and flow system, drip system and wick system. Liquid systems are further divided into deep water culture technique, Nutrient-film technique, and aeroponics system. The Nutrient-film technique segment accounted for the largest share. The high productivity from Nutrient-film technique (NFT) and deep water culture (DWC) techniques have attracted growers to opt for these systems. The advent of aeroponics technology in recent times has further fueled the demand for liquid hydroponic systems. According to industry experts and multiple use cases, NFT systems are mostly preferred for vegetable cultivation, majorly lettuce and tomatoes, while DWC systems have been used for tomatoes, cucumbers, peppers, and fruit cultivation.

Based on crop type, the hydroponic crops market is segmented into vegetables, fruits, flowers, and other crops (cannabis, fodder crops and herbs). Hydroponic systems are majorly used for vegetable crops at the commercial scale, owing to the vast difference in yield obtained from this technology. Across the globe, tomatoes are the most widely produced vegetable through hydroponic technology, followed by leafy greens, mainly lettuce. Other vegetables such as cucumbers and peppers have been gradually gaining pace in the European and North American countries.

Some of the major players in the hydroponics system market are Signify Holdings (Netherlands), Argus Control Systems (Canada), Heliospectra AB (Sweden), Scotts Miracle Gro (US), American Hydroponics (US), and LumiGrow (US).Expansions & investments, mergers & acquisitions, and partnerships were some of the core strengths of the leading players in the hydroponics system market. These strategies were adopted by the key players to enhance their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and expand their product portfolios.

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The shelf-life testing market is estimated to be valued at USD 3.39 billion in 2018 and is projected to reach USD 4.76 billion by 2023, at a CAGR of 7.0%. The market is driven by stringent safety regulations for food products, increase in the outbreak of foodborne illnesses, and growth in demand for packaged and convenience foods.

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Key Players:

• SGS (Switzerland)
• Bureau Veritas (France)
• Intertek (UK), Eurofins (Luxembourg)
• ALS Limited (Australia)
• TÜV SÜD (Germany)
• TÜV NORD GROUP (Germany)
• Mérieux (US)

SGS primarily offers inspection, verification, testing, certification, and quality assurance services. It has a strong reputation for solutions that deliver a competitive advantage to customers in areas such as food testing, agricultural testing, environmental testing, and materials testing. The company has many R&D centers and adopts new techniques as per technological advancements. It focuses on strategic expansions to increase its capacity and strengthen its business network. For instance, in July 2017, SGS acquired an agriculture and food testing laboratory in Mississauga, Ontario (Canada). This acquisition helped the company strengthen its microbiology and food chemistry testing services and offer clients full-service offerings for food and agricultural testing in Canada.

Eurofins is one of the leading shelf-life testing service providers for food products due to its global presence and strong service infrastructure. This infrastructure helps it cope during peak periods of testing demand from clients. The major strengths of the company are its widespread global network and its testing services of superior technical quality and regulatory thoroughness. The company continues to witness significant growth by way of constant acquisitions. In April 2018, Eurofins signed an agreement with LabCorp to acquire its food testing and consulting business, i.e., Covance Food Solutions, for USD 670 million. This is expected to help Eurofins expand its presence in North America, the UK, and Asia since Covance Food Solutions operates through an integrated network of 12 facilities across the globe with 9 in the US, 2 in the UK, and 1 in Asia.

Intertek is a provider of quality and safety services. The company focuses on increasing its services in new as well as existing markets, which will allow it to capture new businesses. It also invests in new services and capabilities to support its clients’ current and future needs and to expand in the growing markets. It has been continuously improving its services through new and advanced technologies to create opportunities in the shelf-life testing market. Intertek has created a strong geographical network and supply chain due to which it has efficient service capabilities for the testing of food samples for shelf life.

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The shelf-life testing market, by technology, is projected to be dominated by the equipment- & kit-based segment and is also projected to grow at a higher rate during the forecast period. This segment consists of both, traditional and rapid systems, which are highly preferred by manufacturers because of their ability to provide faster and more reliable results.

The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023. Growth in the Asia Pacific region can be attributed to factors such as growth in the number of shelf-life testing laboratories in India and China, the rise in the number of incidences of bacterial infectious diseases in the region, and growing adoption of convenience and packaged food on the region.

According to MarketsandMarkets, the specialty enzymes market is estimated to be valued at USD 4.4 billion in 2019 and is projected to reach USD 6.6 billion by 2025, recording a CAGR of 6.9% in terms of value. Due to the rise in demand for non-harmful biological catalysts in pharmaceuticals & diagnostics and advancement tools to optimize pharmaceutical production, specialty enzymes market has been boosting. These factors are projected to drive the growth for the specialty enzymesmarket during the forecast period.

Enzymes play an important role as a biological catalyst in the processing for several applications such as pharmaceutical, research &biotechnology, and diagnostics. In addition, enzymes are increasingly used as a substitute for chemical catalysts, which is significantly contributing to the growth of the specialty enzymesmarket.Developments such as protein engineering and genetic engineering provide scope for research & development in enzymes. The research and development activities help the industry to innovate products and meet the demand of industries by increasing production.In addition, biotechnology will help in increasing the efficiency of enzyme production and enhance its properties.Along with this, the increase in demand for diagnostics for the treatment of various chronic diseases is also contributing to the growth of the specialty enzymes market. Enzymes, such as polymerases & nucleases and carbohydrases, are used for the production of pharmaceuticals.

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In terms of type, the polymerases & nucleases segmenthas shown significant growth in the market due to its wide range of usesacross various applications.The core structure and properties of polymerases are highly conserved through evolutions, as they function in coordination with several other proteins in order to synthesize nucleic acids in an accurate, efficient, and well-regulated manner. The ability of specialty enzymes to catalyze chemical reactions and increase its applications hascontributed to the growth of the specialty enzymes market.In addition, enzymes have several other benefits,such as lower production costs, higher product quality, reduced power energy consumption, and less wastage. These factors also drive the growth of the specialty enzymes market, while the use of specialty enzymes in pharmaceuticals is increasing for the production of drugs.

Asia Pacific is projected to witness the fastest growth in the specialty enzymes market during the forecast period due to the globalization of business and technological innovations. The Rest of the World (RoW) enzymes market has been growing due to advancements in various specialty applications and a rise in demand in developed countries. Novozymes (Denmark) expands its research &development facilities in Brazil that would focus on biotechnology-based innovations and developments in new enzyme product offerings. In addition, enzymes are being used increasingly to optimize the pharmaceutical industry. One of the major factors contributing to the growth of the enzymes market in the Asia Pacific and Rest of the World (RoW)regions is the increase in population in this region, which is driving the growth of the pharmaceutical and diagnostics industries.These factors are the major factors driving the market growth for enzymes in the Asia Pacific and Rest of the World (RoW) region for specialty applications.

The malt extracts and ingredients market size is estimated to be valued at USD 17.6 billion in 2020 and is projected to reach USD 20.4 billion by 2025, recording a CAGR of 3.0% during the forecast period. The increase in the demand for beer has majorly been driving the market for malt extracts and ingredients. Factors such as their use as a sweetening agent and their ability to raise and soften the dough have propelled their use in various applications in the food & beverage industry.

The key players in this market include GrainCorp (Australia), Malteurop (France), Rahr Corporation (US), Boortmalt (Belgium), and Groupe Soufflet (France). New product launches, expansions & investments, and partnerships were some of the core strengths of the leading players in the malt extracts and ingredients 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 malt extracts and ingredients market are Maltproducts (US), Maltexco (Chile), Holland Malt (Netherlands), Barmalt (India), IREKS (Germany), Muntons PLC (US), Simpsons (UK), Viking Malt (Finland), Agraria (Argentina), Puremalt (Scotland), Cerex (The Netherlands), EDME Ltd. (England) Imperial Malt(India), Diastatische Producten (The Netherland), and Laihian Mallas (Finland).

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GrainCorp (Australia) is one of the major players in the global malt extracts and ingredients market. It is one of the leading manufacturers of malt extracts and ingredients globally. It operates in almost all the major markets through various agreements and subsidiaries. With the increase in the craft brewery, the demand for specialty malt has increased. GrainCorp provides a variety of specialty malt extracts and ingredients of premium quality to cater to the needs of craft brewers and microbreweries.

Groupe Soufflet (France) is another major player in the malt extracts and ingredients market. It is primarily engaged in the production and distribution of malt extracts and ingredients globally. It is based out of France, having eight maltries in the country. The organization is constantly working on expanding its capacity and on meeting the increased demand from all across the globe. To expand its production capacity and capture the market in East Africa, Soufflet established a malthouse in Ethiopia. Through this strategy, the company aimed at developing the regional industry.

Boortmalt (Belgium), a subsidiary of Axereal, is one of the leading players in the market. They mainly produce and distribute malt-based products in Europe as well as all across other geographies, as well.  It is continuously working on expanding its capacity and market share via different strategies such as expansions, acquisitions, and investments. Axereal, on behalf of Boortmalt, recently acquired the malt business of Cargill (US). Apart from this, they have established a malting tower in Belgium, which provides an important global presence to Boortmalt.

Related Reports:

Malt Extracts and Ingredients Market by Product (Extracts and Ingredients), Source (Soy, Wheat, and Rye), Grade (Standard malt and Specialty malt), Application (Beverages, Food, and Pharmaceuticals), Form (Dry and Liquid), Region – Global Forecast to 2025

The global taste modulators market was valued at USD 994.7 million in 2017 and is projected to reach USD 1,758.7 million by 2023, at a CAGR of 10.2% during the forecast period. The key players in the taste modulators market include DSM (Netherlands), Kerry (Ireland), Ingredion (US), Givaudan (Switzerland), Firmenich (Switzerland), International Flavors and Fragrances (US), Symrise (Germany), Sensient Technologies (US), The Flavor Factory (US), Carmi Flavor & Fragrance (US), Flavorchem Corporation (US), and Senomyx (California). These key players focused on various business strategies such as new product launches, agreements, and expansions to increase their market presence. DSM and Kerry are the top two companies in the taste modulators market based on overall revenues, product offerings, and strategic activities related to taste modulators.

The sweet modulators segment is estimated to dominate the global taste modulators market in 2018. Sweet modulators provide a sweet taste with zero calories to food products. It is used by manufacturers to restore the sweet taste. Taste modulators are gaining popularity among consumers owing to enhanced taste and nutritional benefits.

Beverages are broadly classified into two categories, namely, alcoholic and non-alcoholic beverages. The non-alcoholic beverages segment was the largest; it includes both carbonated drinks and non-carbonated beverages such as juices, energy drinks, sports drinks, and fortified drinks. Taste modulators are used to alter the taste and support the reduction of calories in drinks (being used in conjunction with sugar substitutes) to meet consumer demand for healthy beverage products.

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DSM is one of the major companies involved in the manufacturing of nutritional & pharmaceutical ingredients, biomedical materials, thermoplastics, resins, and industrial chemicals. The company has its presence in more than 60 countries and manufacturing facilities in more than 40 countries. It is consistently focused on product innovation, skillful marketing, and product promotion with R&D centers in domestic as well as international markets in China, India, the US, Canada, Australia, the UK, and Germany. The company’s subsidiaries include Fortitech, Inc. (US), Microbia, Inc. (US), DSM Food Specialties B.V. (Netherlands), Aland (Jiangsu) Nutraceutical Co., Ltd. (China), DSM Nutritional Products AG (Switzerland), DSM Dyneema LLC (US), DSM India Private Limited (India), and Ocean Nutrition Canada (Canada). The company also focuses on new product launch as a strategy; in November 2017, the company launched ModuMax, a taste modulator which is natural and allergen-free. Consumers can use it without compromising on the actual taste of the food product.

Kerry Group is involved in the marketing and production of consumer food products. It operates through two business segments, namely, taste & nutrition and consumer foods. Globally, the company has its presence in the US, the UK, Australia, Malaysia, Singapore, Germany, and New Zealand. It has 130 manufacturing locations and operations in 27 countries across the globe. The subsidiaries of the company include Kerry Ingredients Australia Pty. Ltd., Kerry Ingredients Malaysia, Kerry Ingredients North America, Kerry Agribusiness Ireland, Dera Holding NV (Belgium), Kerry Ingredients France S.A.S., Kerry Foods GmbH (Germany), Cremo Ingredients A/S (Denmark), Kerry Ingredients Italia S.p.A., Kerry Polska Sp. z.o.o. (Poland), and Kerry Ingredients UK. The company also focuses on new product launch as a strategy; in October 2017, it launched a new taste modulator to cut sugar content by almost one-third. This launch would help the company to expand its product line to meet the consumer demand for low-calorie food products.

The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. China and India have witnessed major growth in the taste modulators market, acquiring significant shares in the region. The region witnesses a high demand for taste modulators due to the rise in meat consumption, population growth, and increase in awareness about healthy & nutritional food products.