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Stainless Steel Welded Pipes Market will Exhibit a Steady CAGR 4.5% by 2028

Stainless steel is currently the most preferred raw material used to manufacture pipes, owing to its less corrosive and easy-to-fabricate nature. However, carbon steel or mild steel has certain inherent advantages over stainless steel - carbon steel has more strength, is more malleable, and provides better thermal conductivity than stainless steel. Owing to these factors, carbon steel is slowly being preferred over stainless steel in the manufacturing of heavy equipment. Advancements in welding and fabrication technology may lead to increased adoption of carbon steel over stainless steel, thereby negatively impacting revenue growth of the stainless steel welded pipes market.

This interesting finding is taken from a recent market research study by Future Market Insights on the global stainless steel welded pipes market. According to the report, revenue from the sales of stainless steel welded pipes is projected to reach a whopping US$ 20.9 Bn by 2028, from an estimated US$ 13.5 Bn in 2018. This is indicative of a growth rate of 4.5% during the 10 year period from 2018 to 2028.

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Increasing Adoption of Recycled Stainless Steel and Rising Use in Pre-Engineered Buildings Trending the Global Stainless Steel Welded Pipes Market

There has been a rising adoption of scrap metal including scrap iron and steel in the production of steel in countries such as China and India in keeping with global initiatives to reduce the carbon footprint. Recycled steel is being widely used across industries to eliminate the need for mining newer reserves of iron ore and also to reduce air pollution by eliminating carbon dioxide emissions. This positive approach of the iron and steel industry towards managing global warming is being observed as a key trend in the stainless steel welded pipes market.

In the last few years, pre-engineered buildings have become a critical component of both the industrial and commercial sectors globally. Stainless steel is an important raw material used to construct pre-engineered buildings. Rapid industrialisation and the resulting urbanisation is leading to rapid growth in the construction of pre-engineered buildings, thereby fuelling demand for stainless steel. This factor is expected to bode well for the growth of the stainless steel welded pipes market.

Another trend being observed in the global stainless steel welded pipes market is the use of stainless steel pipes in distributing drinking water. The good strength, grade resistance, corrosion resistance, ductile nature, and mechanical properties of stainless steel make it ideal for constructing pipes that carry drinking water. This is driving the demand for stainless steel welded pipes in the water distribution and transportation industry across the world.

Burgeoning Global Construction Industry and Growth of Water and Wastewater Management to Boost Revenue Growth of the Stainless Steel Welded Pipes Market

Rapid industrialisation has led to mass urbanisation across the globe, leading to an increase in demand for both residential and commercial properties. This has fuelled investments in the global construction sector, consequently upping the demand for stainless steel welded pipes. Further, instrumentation equipment, industrial piping, water supply and transportation, and petrochemicals require complex piping solutions that necessitate the use of stainless steel welded pipes. This factor is expected to augur well for revenue growth of the global stainless steel welded pipes market in the near future.

Urbanisation brings with it rising demands for clean and pure drinking water and the governments of several developing countries are moving towards the use of stainless steel pipes in the installation of water pipelines for both domestic consumption and agricultural purposes.

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Governments across the world are also planning strategic initiatives pertaining to wastewater management to reduce water pollution and improve the quality of water by setting up effective industrial wastewater collection systems that incorporate stainless steel welded pipes. This is further expected to push revenue growth of the global stainless steel welded pipes market in the coming decade.

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Cold Flow Improvers Market will Exhibit a Steady CAGR 5.2% by 2027

While FMI in a recent intelligence report on cold flow improver market scenario offers an exhaustive market value and volume-wise evaluation through 2027, it thoroughly examines the regional and competitive outlook of the cold flow improver landscape for deeper yet precise insights.

At an estimated year on year revenue growth of 4.6%, cold flow improver is likely to reach over a billion dollar revenue in 2019, according to a new study presented by Future Market Insights. In terms of volume, the global cold flow improver consumption is slated to cross 300,000 tons towards the end of 2019.

Although Europe remains the largest regional market for cold flow improver, supposedly recording the consumption of more than 116,000 tons by the end of 2019, research estimates that North America in terms of value will demonstrate a higher year on year growth of over 5% each year post 2019.

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Over US$ 290 Million Projected for Europe’s Automotive Sector in 2019

Automotive, the leading end user of cold flow improver, is likely to reach the revenue in excess of US$ 260 Mn in 2019. Escalating global automotive production and sales is subsequently translating into the growing demand for lubricant additives, and thereby expanding sales of cold flow improvers. “With growing consumer inclination towards premium quality lubricant additives for enhanced engine performance, it is more likely that the sales of cold flow improvers will sustain over coming years,” says a senior market research analyst at FMI. Europe's share in the automotive segment will remain around 40% over the next few years, signifying its position in the cold flow improver landscape at a global level.

Polyacrylate Continues to Register Highest Consumption over Other Types of Cold Flow Improver

With more than 31% share of the current revenue contribution by the product type category, polyacrylate (PA) remains the top selling product type, as indicated by the report. The total PA consumption volume in Europe alone will reach beyond 38,000 tons in 2019, followed by that in North America presumably approaching 30,000 tons the same year.

China Positions itself as an Attractive Territory for Cold Flow Improver Suppliers

With the drastically expanding fleet size and the net vehicle parc, China, the global automotive manufacturing hub, is projecting itself as a highly lucrative regional market for automotive and cold flow improver manufacturers. Another strong factors encouraging Chinese market growth include elevating aviation traffic and a tremendously thriving economic scene. Besides the automotive industry, the fleet size of airline owners in China is demonstrating exceptional growth owing to the most favored low-cost business model. While this scenario is directly impacting a wide range of markets related to aircraft fuel and lubricant additives, cold flow improvers remain one of the top beneficiaries.

Regional Players Make up for 40-45% of the Cold Flow Improver Market Revenue

The global cold flow improver landscape is moderately consolidated, with a large number of Tier 3 players holding a collective market value share within the range of 40-45%. “Following Tier 3 companies are the Tier 1 market leaders accounting for a 30-35% share of the total market revenue,” reports the FMI analyst. While larger players have moderately strong global presence, Tier 3 companies that include a large number of regional and local players have strong regional presence, owing to which the latter account for a considerably larger market value in the cold flow improver landscape.

To cater to evolving regional demands more efficiently, cold flow improver manufacturers are opting for strategic M&A, in addition to joint ventures. The report points to a growing tendency of leading players in cold flow improver landscape to prioritize production capacity expansion. The market is thus witnessing expansion of existing production plants in high demand regions, as well as establishment of new manufacturing plants in high potential regions, in coming years. “Companies are also observed to be taking exclusive efforts towards exploring diverse applications of customized cold flow improvers,” says the analyst.

How Significant is the ‘Bio-based’ Trend in Driving the Production Facility Expansion Strategy?

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In a bid to modulate the environmental footprint, a majority of cold flow improver manufacturers are following a trend of using bio-based raw materials. “While adoption of sustainable raw materials such as vegetable oils helps them effectively slash the level of adverse environmental impact, it is more likely to receive additional benefits in terms of cost and performance. Lubricant manufacturers are thus planning production capacity expansion with sustainable raw materials in order to cater to soaring consumer demand,” the FMI analyst explains this trend further. The trend is likely to push capacity expansion efforts of leading manufacturers, driving revenue growth of cold flow improver landscape globally.

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Hydraulic Gear Pump Market is projected to grow at a CAGR of 3.7% by 2028

Presumably surpassing the sales volume of 55,000 thousand units by 2020 end, hydraulic gear pumps landscape is projected for moderate expansion in the near future. As presented in a recent market research report published by Future Market Insights offers exclusive insights on the global and regional growth scenario of hydraulic gear pump landscape, emphasizing on the key growth influencers, opportunity analysis, and trends tracking.

The report on hydraulic gear pump landscape also provides a thorough assessment of the competition scenario that prominently focuses on the analysis of key developmental strategies of leading market players.

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A Deep-dive Assessment of Competitive Landscape

“The global market for hydraulic gear pump is a highly fragmented landscape with a large number of smaller players that hold lower individual revenue shares but account for a massive collective share of over 70% at present. Tear 2 companies involve some of the highly important players, whereas Tier 1 i.e. the key companies represent a relatively lower value share in the market,” explains a senior research analyst at FMI.

According to the analysis of the competitive landscape, strategic mergers and acquisitions remain the key move for an extended market reach and expanded product offerings. A recent acquisition deal involving the Parker Hannifin Corporation and Denison International is reportedly enabling the former to penetrate deeper in European markets. Eaton also recently announced the acquisition of Internormen Technology Group, a manufacturing leader in the hydraulic filtration and instrumentation space.

Strengthening the after service will be the key differentiator for leading market players. Similarly, empowering existing distribution channels and focusing efforts on long-term contractual relationships with leading manufacturers for reliable, consistent supply is also identified to be among the important company strategies.

In order to push the overall sales output and add value to the current sales scenario, a number of players in the hydraulic gear pump landscape are leveraging advanced technologies for superior product quality in compliance with government standards and regulations regarding emission levels.

Agriculture Emerges as a Lucrative End Use Sector

Besides a considerably important role of construction and automotive industries in raising significant demand for hydraulic gear pumps, agriculture is also likely to emerge an attractive hub of business opportunities for manufacturers and innovators of hydraulic gear pumps. Growing cropping intensity is dictating a paradigm shift of the agricultural sector to mechanization that eventually is delivering enhanced cropping intensity. This cycle is predominantly fueling the demand for tractors, thereby encouraging sales of hydraulic gear pumps.

The global landscape of hydraulic gear pump is currently trending with long-term supply contract agreements between hydraulic gear pump manufacturers and recognized OEMs in construction, automotive, and agriculture verticals.

“However, low rate of replacement will continue to limit revenue growth of market. Typically, the life span of a hydraulic gear pump is as long as 4-5 years that translates into a lower rate of pump substitution. Moreover, key suppliers and distributors have been entering vertical and horizontal collaborative contracts focusing on the growing inclination of consumers towards repair and maintenance, thereby restricting the sales of new hydraulic gear pumps,” says the analyst.

Segmental Insights

The material type evaluation of hydraulic gear pump landscape uncovers prevailing dominance of alloy with over 50% share of the market value. Alloy is witnessing an average 4.5% year over year revenue growth and FMI projects maximum incremental opportunity for alloy in the next couple of years.

As indicated by the market analysis according to the type of product, unidirectional hydraulic gear pump is gradually moving towards capturing almost a third of the total market value, through at a steady pace in terms of revenue growth.

Based on the operating pressure, FMI identifies 100-300Bar segment to be the most opportunistic one with over 40% value share at present. While this segment is likely to be enjoying a significant incremental opportunity, the other two segments in this category, i.e. less than 100Bar and above 300Bar will continue sluggish growth.

The analysis of hydraulic gear pump market on the basis of vehicle type concludes that heavy duty vehicles continue to dominate the market scene with over 40% share of the revenue, whereas that of material handling is gradually growing at a promising pace.

The application-wise assessment of hydraulic gear pump landscape reveals that lifting applications of hydraulic gear pumps trigger a majority of revenue generation. On the other hand, electrohydraulic powered steering also holds a significant market value share of more than 35% that is likely to see a slight decline in the next couple of years. Post 2020, revenue growth of hydraulic gear pumps through lifting applications will reach the peak in terms of year on year growth, indicates the report.

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Regional Outlook

European market for hydraulic gear pump valuates at over US$ 500 Mn, of which over US$ 400 Mn is covered by Western Europe. SEAPAC and North America represent an almost similar revenue, and demonstrate a similar pace of revenue growth. Robust demand for hydraulic gear pump from the flourishing manufacturing sector as well as the construction and infrastructure vertical is strongly pushing sales of hydraulic gear pumps in rapidly developing Asian economies, especially China and India.

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Automotive Exhaust Manifold Market Poised to Register a 3.7% CAGR by 2026

The FMI market report titled “Automotive Exhaust Manifold Market: Global Industry Analysis 2014–2017 & Opportunity Assessment 2018–2026” examines the Automotive Exhaust Manifold market and offers key market insights for the next eight years. According to the company’s analysis, the global sales of Automotive Exhaust Manifolds was valued at US$ 8,064.6 Mn by the end of 2017 and is anticipated to register a 3.7% CAGR over the period of 2017–2026. This report analyses the demand for Automotive Exhaust Manifolds and its break-up on the basis of different sales channels, materials, product types, engine types, vehicle types, fuel types and regions.

By product type, the log manifold segment is anticipated to register significant growth over the forecast period in the Automotive Exhaust Manifold market with manufacturers focusing on developing new technologies for Automotive Exhaust Manifolds as per the demand from different countries.

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Use of Advanced Materials to Develop Durable & Strong Automotive Exhaust Manifold

According to estimates, the global Automotive Exhaust Manifold market is anticipated to reach approximately US$ 8,995.5 Mn by 2020. Key market players are trying to develop strong and long-lasting exhaust systems that are efficient and can sustain a variety of loads depending on the engine capacity of the vehicle. Advancements in science technologies (for materials) in manufacturing industries have allowed players to use newly developed materials such as alloys of stainless steel, which make exhaust manifolds durable and strong under extreme pressure and temperature conditions.

Prominent players in the market have been promoting their products to enable the transition to upcoming and latest government emission regulations such as Euro 6C, China National Standard V and VI, Bharat Stage VI. Such emission regulations are expected to trigger innovation in the exhaust system market.

Cast Iron Automotive Exhaust Manifold Segment to Capture Significant Share

On the basis of material, the Automotive Exhaust Manifold market has been segmented into cast iron and stainless steel. Among the two segments, the Cast Iron Automotive Exhaust Manifold segment accounts for a significant share in the market.

Passenger Car Segment Projected to be an Important Segment in Automotive Exhaust Manifold Market

By vehicle type, the passenger car segment is projected to be an important segment in the Automotive Exhaust Manifold market. The demand for passenger cars is anticipated to be grow at a significant CAGR over the forecast period.

APEJ and North America to Hold Noteworthy Shares in Global Automotive Exhaust Manifold Market

On the basis of region, the Automotive Exhaust Manifold market has been segmented into seven regions: Latin America, North America, APEJ, Japan, MEA, Eastern Europe and Western Europe. Asia-Pacific, North America and Western Europe are estimated to hold significant shares in the global Automotive Exhaust Manifold market. Economic growth in Asia-Pacific excluding Japan (APEJ) countries such as China and India is likely to accelerate in the coming years, which will translate to an increase in industrialization and manufacturing activities in the region. This will lead to higher demand for automobiles and components, which in turn is estimated to boost the demand for Automotive Exhaust Manifolds.

Eastern Europe is a developed region with abundant demand for vehicles. The government authorities in this region have implemented stringent regulations to ensure the safety of drivers. If any loopholes are found, heavy fines are levied on the manufacturer. Therefore, manufacturers are utilizing good materials in the production of automotive exhaust manifold.

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Global Automotive Exhaust Manifold Market: Competitive Landscape

Some of the players reported in this study of the global Automotive Exhaust Manifold market are Faurecia SA, Tenneco Inc., Eberspächer Climate Control Systems GmbH & Co. KG, Futaba Industrial Co. Ltd., Katcon, S.A. De C.V., Bentler Group, Sango Group, Friedrich Boysen GmbH & Co. KG., Sejong Industrial Co. Ltd., Westcast Industries Inc. and Yutaka Giken Company Limited.

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3D Cell Culture Market is Poised to Register a 9.9% CAGR by 2028

The 3D cell culture market revenues surpassed US$ 778 million in 2018, as per a new FMI study. The market is estimated to grow at 7.8% y-o-y in 2019; key factors responsible for the projected market growth include,

A steady rise in global research and development expenditure

Efforts to leverage the potential of 3D cell culture to replace animal model testing

Increasing demand for biosimilar products

Extensive application of stem cell research and a growing emphasis on regenerative medicine

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“While 2D cell culture revolutionized the research efforts in stem cells, tissue engineering and molecular biology, 3D cell culture has pushed the boundaries of traditional 2D cell culture technique with functional superiority. As the R&D efforts continue to rise in a bid to investigate the cause of different diseases and improve human health, 3D cell culture is set to remain a highly sought-after technique in the coming years,” says FMI.

The FMI study finds that scaffold-based 3D cell culture techniques are highly preferred over scaffold free 3D cell culture. Owing to a significant adoption of scaffold-based 3D cell culture, study finds that this techniques garnered over 81% of the global market revenues.

Scaffold based 3D cell culture techniques deliver researchers with additional functional operations in terms of material – natural or synthetic and different mechanical properties.    

The technique uses either hydrogel-based support or polymeric hard material based support. Both types of supports find equivalent penetration in terms of application, however revenues garnered from polymeric hard material based support are higher.

According to the study, revenues of polymeric hard material based support held over half the scaffold-based 3D cell culture technique revenues in 2018 and the trend is expected to continue in the future.

Application of 3D Cell Culture in Cancer Research Prominent

The FMI study estimates that 3D cell culture application in cancer research accounted for over 31% of the 3D cell culture market revenues in 2018. Cell culture is an integral part of cancer drug discovery practices. Greater strides are underway in the field to precisely characterize the diseases and develop advanced tumor cell lines using 3D cell culture techniques.

2D culture lines are considered as a standard for in vitro pre-clinical cancer treatment screening. However, more recently, the field is turning to 3D cell culture techniques to implement an ideal experimental model that mimics the human body environment to its best.

Stem cell technology is another lucrative field for 3D cell culture market. According to the FMI study, application in stem cell technology accounted for over one-fourth of the 3D cell culture market revenues in 2018. While 2D cell culture posed challenges of scalability in stem cell technology, apart from few challenges, 3D cell culture has provided greater density and multi-fold expansion of the culture system in stem cell technology. Other fields that utilize 3D cell culture techniques are tissue regeneration, regenerative medicine and drug discovery.

Biotechnology and Pharmaceutical Industries - Prominent End-Users

The study reveals that the biotechnology and pharmaceutical industries were accounted for over one-fifth of the global 3D cell culture market revenues in 2018. Buoyancy in the biotechnology and pharmaceutical industries can be profitable for the 3D cell culture market in the coming years and over 9% growth is projected in 2019 over 2019.

Academic research institutes are the second prominent end-users of 3D cell cultures wherein they accounted for over one-fourth of the global 3d cell culture revenues in 2018. Government funding in cancer research projects carried out at academic institutes and organizations has increased significantly, thereby supporting the investments in advanced technologies including 3D cell culture techniques.

Revenues in North America Continue to Surge

North America continued to spearhead the revenues of 3D cell culture market during the historical period and the status-quo is likely to continue in the future. In 2018, North America accounted for over two-fifth of the global 3D cell culture market revenues. The study estimates that regional revenues are expected to grow at 8% in 2019 over 2018.

Funding in research and development, especially in cancer research remains higher in the United States as compared to other developed countries. Europe also presents significant funding in R&D activities. The FMI study finds that over one-fourth of the 3D cell culture market revenues were accounted for the Europe region in 2018, of which a bulk of revenues come from Western European countries such as Germany, the UK, France, Italy and Spain.

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The FMI report tracks the 3D cell culture market for the period 2018-2028. According to the report, the 3D cell culture market is projected to grow at 9.9% CAGR through 2028.

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Decorations and Inclusions Market is Projected to Register a CAGR of 5.9% by 2028

Over 1,300 thousand metric tons of decorations and inclusions were sold in 2018, equaling revenues worth over US$ 8 billion. Key factors fuelling the demand for decorations and inclusions include,

Rising consumer interest in foods with added inclusions and decorations

Growing demand among foodservice companies and food product makers in a bid to stand out amid fierce competition

Manufacturers expanding product portfolio of high-quality decorations, inclusions and toppings

The FMI study finds that industrial food and beverage processing application registered a significant demand for decorations and inclusions in 2018, amounting to a hefty 75% of the total consumption. Status-quo will continue with buoyancy in the food and beverage processing industry where producers continue to push boundaries of processing with the use of decorations and inclusions. 

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Processing of baked goods such as cake, pastries and sweet biscuits significantly involves the use of decorations and inclusions as their sales heavily rely on distinct presentation, taste and texture. A similar trend is observed in the processing and marketing of breakfast cereals, confectionery, ice cream & frozen desserts, snack bars and beverages, thereby explaining the use of decorations and inclusions.

Commercial application of decorations and inclusions include shops distributing bakery & pastry and confectionery products. Bakery and pastry shops that offer customized food items through their own processing outlets also register considerable demand for decorations and inclusions.

Preserved/Dried Fruit Pieces Spearhead Demand

The FMI study shows that demand for preserved/dried fruit pieces has remained higher over the past few years and the status-quo is expected to continue in the future. In 2018, preserved/dried fruit pieces accounted for over one-fourth of the global decorations and inclusions consumption.

“Consumer sentiments for healthy ingredients and value-added food products are expected to augur well for the decorations and inclusions market, especially preserved/dried fruit pieces. Chocolate-based decorations and inclusions such as sprinkles, cups, shells and different shapers are witnessing rising popularity and expected to account for over one-fourth of the total consumption in 2019,” says FMI.

Sugar sprinkles and inclusions also witnessed significant consumption in 2018, accounting for one-fifth of the total decorations and inclusions consumption. Increasing demand for gourmet sprinkles in the bakery and confectionery applications is likely to boost demand for sugar sprinkles in the coming years.

Other types of decorations and inclusions include sweetened/caramelized nuts, roast nuts, backed pieces as well as sugar pastes and icings- collectively these products accounted for nearly one-fourth of all decorations and inclusions sold in 2018.

B2B Sales Predominate the Distribution

Nearly 90% of decorations and inclusions are sold through direct sales/B2B sales channel as demand remains consolidated in food and beverage businesses, as per the FMI study. While the trend is expected to continue in the future, remaining share of decorations and inclusions is distributed to indirect sales or B2C sales channel which includes intermediate/bulk distributors, brick & mortar retailers and online retailers.

North America continues to observe leading demand for decorations and inclusions. In 2018, the region consumed nearly one-third of the global decorations and inclusions. A bulk of the regional consumption of decorations and inclusions is centered in the United States. The region provides lucrative opportunities for decorations and inclusions manufacturers owing to the presence of an extensive network of food processing players sustaining in the fierce competition of the F&B processing and servicing industry.

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Europe closely follows North America in representing the second largest demand for decorations and inclusions. Western European countries consume half the regional consumption, wherein Germany followed by France, Italy and the UK are prominent consumers of decorations and inclusions.

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Resveratrol Market Projected to Register a CAGR of 8.1% in revenue by 2028

The global sales of resveratrol are likely to exceed 370 thousand units in 2019, as per a new FMI research study. The study finds that demand for resveratrol has significantly taken off over the past few years on the back of growing demand from three key verticals- cosmetics, pharmaceutical, and dietary supplement applications. Owing to their extraordinary capabilities in healing and managing cardio-vascular diseases, cancer, and neurological disorders, resveratrol is finding extensive applications in pharmaceuticals, notably specialty drugs. FMI’s new research study on resveratrol market enunciates on the evolving landscape, highlighting key insights to the fore.

According to the product, natural resveratrol remains the top-selling variant, with global sales poised to exceed 300 thousand units in 2019. With cosmetics industry witnessing the greatest measurable impact to date from rising consumer bias toward natural products, the status quo apropos of demand for natural resveratrol remains unaltered over the forecast timespan. As per the report, solid form of resveratrol continues to gain immense favor with global sales anticipated to surpass 280 thousand units in 2019, on the back of sweeping use across multiple application verticals.

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“Consumer awareness with regard to resveratrol’s potential health benefits has significantly revved up, alongside favorable research studies demonstrating its numerous health benefits. According to the report, demand for resveratrol in dietary supplements is emerging a palpable trend picking in the food supplement landscape, with resveratrol moving out of the specialty diet space and mainstreaming in the functional food category”, says FMI report.

As per the FMI report, the market growth continues benefit from approvals sanctioned by prominent organizations apropos of resveratrol-based food supplement launches. For instance, DSM Nutritional Products, a leading food and beverage producing company, received the European Union (EU) novel foods approval for resVida, which is a trans-resveratrol for use in food supplements, in either capsule or tablet form. Particulars as such provide substantial credence to the burgeoning adoption of resveratrol in food and dietary supplements over the forecast period.

With potential antioxidant capabilities, personal care and cosmetic products containing resveratrol remain highly-favored by customers for attaining the desirable anti-aging effects. However, the shorter duration of resveratrol's efficacy is denting consumer confidence, which is posing challenges vis-à-vis its adoption in skin care products.

Ambiguities over Health Benefits of Resveratrol Denting Consumer Confidence

While favorable studies vouch for the multimodal benefits of resveratrol, specific side-effects are likely to trigger a slowdown in the adoption rate. For instance, as per a recent revelation by National Institute of Health (NIH) in May 2018, resveratrol might cause potential effects, such as headache, nausea, fatigue, and so on. Furthermore, some research findings have also pinpointed that resveratrol can cause supplement-drug interactions with anticoagulants and estrogens, which is further expected to hinder the adoption rate of resveratrol.

Europe is likely to show strong growth over the forecast timeline, notably driven by strategic mergers and acquisitions by leading players to expand their product portfolio with resveratrol-based offerings. For instance, Evolva, a Swiss-based biotech company, launched ‘Veri-teTM’, an exclusive resveratrol ingredient, which bought a substantial hike in the company’s overall sales revenue.

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Companies operating in the resveratrol market are witnessing longstanding issues in the supply chain framework. In line with the aforementioned, these companies are vying to deliver products that are cost-competitive and produced via sustainable methods, such as bio-production. Key brands are singing strategic distribution agreements and expanding in terms of geographical presence as well as product ranges to solidify their market sustenance.

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Watertight Doors Market is projected to grow at a CAGR of 6.5% by 2028

Watertight doors market witnessed sales of nearly 77,570 units in 2018 and is poised to grow at an impressive y-o-y of over 5.5% through 2028. Buoyancy of the global watertight doors market can be attributed to-

Optimistic outlook of coastal and marine tourism

Surging rate of ocean based activities

Rising focus on ship repair and maintenance

Flourishing seaborne transportation and trade

Federal initiatives to promote marine safety have worked in favor of high-scale production of marine components, such as watertight doors. For instance, the Government of Canada is introducing additional measures for enhancement of navigation safety and emergency response in the Canadian waters.

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The measures were presented in the form of an official announcement and acknowledged as a part of Canada’s ‘Oceans Protection Plan’. On 14th June 2018, the U.S. Coast Guard announced two workforce initiatives in line with the ‘Marine Safety Program’. Particulars as such provide enough credence to the promising outlook of watertight doors market in 2019 and beyond.

“Investments in various forms of sustainable tourism, including coastal and marine tourism, is underway. This, in turn, has resulted in augmented production of marine vessels and associated components for safety, such as watertight doors. Rising vigor of ocean-based industries, such as offshore exploration and production, is supporting growth of offshore marine vessels and related components, including watertight doors”, says FMI report

The report opines cruise ship revitalization and overhauls to be a prominent trend with profound influences on sales of watertight doors. The increasing demand for upgrading older ships by including advanced amenities and components is complementing the growth of building and repair activities, favoring high-scale production and sales of water tight doors.

As per the report, installation of hinged watertight doors is proliferating at an impressive rate, with global sales likely to cross 71,000 units in 2019. Robust watertight seal withstanding adverse conditions remains a key USP enhancing the visibility of hinged water tight doors over the sliding variants.

According to the report, end-users remain biased toward hydraulic as a viable source over electric ones in the watertight doors landscape, with global sales estimated to exceed 71,348 units in 2019. Hydraulic watertight doors have been traditionally employed in commercial and military vessels alike, owing to their attribute of greater power delivery through smaller force. Additionally, relatively higher control accuracy in light of simple push buttons and levers employed, and economic benefits owing to fewer moving parts equipped, are key demand determinants of hydraulic watertight doors.

Manufacturers Seek Approvals from Renowned Organizations to Boost Credibility

The manufacturing framework of watertight doors witnesses major reformations in the light of evolving environmental concerns. Manufacturing companies are switching to sustainability-driven approaches, wherein production processes and value creation for the environment remain closely associated. Manufacturers of watertight doors are seeking approvals from prominent organizations providing marine classification, such as International Association of Classification Societies (IACS), to boost consumer confidence and get repeat sales

Leading manufacturers of watertight doors are vying to offer distinguishable products to gain competitive advantages amid homogeneous competitors, which will help them strengthen their brand equity. Sensing the end-user shift toward high convenience and superior functionality, manufacturers of watertight doors remain focused on offering maintenance free and easy-to-install products for seamless operations on board.

According to the report, the leading manufacturing companies are reinvigorating their technical know-how with high investments in research and development. This, in turn, is fostering their capabilities in terms of offering an ideal amalgamation of intelligent designs, enhanced longevity, and improved usability.

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Moreover, manufacturers are incorporating industry best drive systems in their products to offer reliable and safe products bolstering end-user convenience. As per FMI analysis, the industry giants remain involved in strategic collaborations with shipyards for seamless supply, which helps them boost their profit margins.

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Breast Pump Market is Poised to Exhibit A Moderate 4.6% CAGR by 2027

According to the latest market report published by Future Market Insights titled ‘Breast Pump Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)’, the global breast pumps market is expected to expand at a CAGR of 4.6% during the forecast period 2017–2027. Future Market Insights delivers key insights and presents a revised forecast of the global breast pump market for a 10 year period from 2017 to 2027.

The revision in the market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of key market participants. The increasing women workforce, along with raising awareness about human milk banks and temporary breastfeeding difficulties such as engorgement, poor attachment, breast refusal, nipple soreness etc. are the main factors which are also expected to bolster the growth of the global breast pump market.

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Global Breast Pump Market: Forecast Highlights

The global breast pump is expected to increase at a CAGR of over 4.6% and reach US$ 2,153.4 Mn in revenues in 2027 from a market valuation of around US$ 1370 Mn in 2017.

Global Breast Pump Market: Segmental Outlook

Latin America and APEJ regions has collectively accounted for nearly 26.8% revenue share of the Breast Pump in 2016. The demand for breast pumps will continue to grow, as the percentage of working mother increases, especially in developing countries. Breast pumps used as a life-saving device for infants who cannot feed directly from the breast, is also expected to contribute to global demand. Due to the dominant features and advantages, breast pumps are preferred by homecare settings, followed by healthcare facilities.

Asia Pacific and MEA regions are the highest population regions. The rapidly developing health care infrastructure and increasing medical tourism in these regions is expected to play an important role in driving growth of global breast pump market.

Increasing demand for high end, breast pump from end users, such as homecare settings and healthcare facilities for better throughput and performance will generate opportunities for launching of novel breast pump systems in the market over the long run and drive the growth of the global breast pump market.

Electric breast pump in the technology category is the largest segment with a high valuation. The manual breast pump segment is poised to grow at a low rate to reach US$ 622.7 Mn by the end of the year of assessment.

In the product type category, open system breast pump segment will remain the largest segment by the product type, accounted for over 59.1% revenue share of the market in 2016. The other segment, Open system breast pump is also anticipated to register a significant growth over the forecast period.

Homecare settings segment will contribute the largest segment by the end user, accounted for over 61.8% revenue share of the market in 2016 to reach 63.1% revenue in 2027. The increasing demand of breast pump at end users such as homecare settings & healthcare facilities is anticipated to register a significant growth over the forecast period.

Global Breast Pump Market: Dynamics

The developing medical industry in respect to advanced infrastructure and increasing medical tourism in the developing countries from the APEJ such as China, India will continue to have a positive impact on breast pump market in APEJ. The increasing adoption of breast pump in life science R&D. An ease-of-use and economic convenience in the North America and Western Europe is anticipated to boost the growth of the breast pump market over a forecast period. The rise in discretionary funding for the research and development activities for the advanced and cost effective medical devices and integration services will also drive the market in the North America and Western Europe. The MEA is at a nascent stage to the global breast pump market and expected to show a moderate growth over a forecast period.

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Global Breast Pump Market: Competitive Landscape

Koninklijke Philips N.V., Pigeon Corporation, Newell Brands, Goodbaby International Holdings Ltd., Medela Inc., Ameda Inc., Hygeia II Medical Group Inc., Bailey Medical, Mayborn Group Ltd. and Linco Baby Merchandise Works Co., Ltd. are some of the key players in the global breast pump market.

Companies in the global breast pump market are focusing on strategic alliances such as strategic agreements, collaborations, rising research and development activities, new product launches, joint ventures, partnerships, and mergers & acquisitions to sustain in the overall competition in the breast pump market.

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Beverage Acidulants Market is Poised to Register a 4% CAGR by 2027

Beverage acidulants consumption reached nearly 1.8 billion tons in 2018, equaling the market revenues worth US$ 1.9 billion. A new FMI study finds that beverage acidulants consumption is expected to grow at 4% y-o-y in 2019. Key factors responsible for the projected growth of the beverage acidulants market include,

Increasing demand for natural additives in the foods and beverage industry

Buoyancy in the beverage processing industry to meet rising consumer demand for processed beverages

Growing emphasis on achieving longer shelf life through optimum acidification of beverage products

Stringent regulations regarding product labels and inclusion of additives in the ingredients list

The study finds that over 64% of all the beverage acidulants consumed were synthetic in nature in 2018. Increasing emphasis shelf life of beverage products combined with the precise concentration required to be added in commercial formulations in the beverage processing industry can be attributed to considerable demand for synthetic beverage acidulants across the beverage industry.

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According to the FMI study, demand for organic beverage acidulants is expected to rise steadily in the coming years. The ongoing ‘organic trend’ and ethical consumerism is likely to support increasing consumption of organic beverage acidulants in the coming years.

Citric Acid Remains First Preference of End-Users

The FMI study finds that citric acid remains the most popular beverage acidulant. Over 38% of the global beverage acidulant consumption was held by citric acid in 2018. Citric acid is highly consumed in the beverage industry for its two primary features, as a flavor enhancer and as a preservative. Traditionally derived from citrus fruits, citric acid is commercially produced through the fermentation process.

Phosphoric acid is the second most commonly used acidulant in the beverage industry. In particular, phosphoric acid is used in the production of soft drinks including colas wherein biting harsh taste of phosphoric acid balances the sweetness of a drink. Volume sales of phosphoric acid are likely to grow at 4% in 2019 over 2018, as per FMI valuation.

Acetic acid, fumaric acid and lactic acid are other highly used beverage acidulants whose application in the beverage industry is growing at a rapid pace. Fumaric acid application in the beverage industry is expected to grow at over 5% y-o-y in 2019.

Powdered Beverage Acidulant Highly Preferred among End-Users

Among different forms of beverage acidulants available in the beverage processing industry, powdered forms of beverage acidulants are highly consumed. The study finds that over 1.2 billion tons of powdered beverage acidulants will be sold in 2019, accounting for nearly two-third of all forms of beverage acidulants consumed. Citric acid, the first choice to be used as an acidulant and sometimes lactic acid are consumed in powdered form in the beverage industry.

Liquid form of beverage acidulants are also used and this form held nearly 30% of the beverage acidulants consumed in 2018. Phosphoric acid, acetic acid and lactic acid are few of the example of beverage acidulants used in their liquid form in the beverage industry. According to the FMI study, consumption of granular beverage acidulants is rising at a faster pace and growth at nearly 6% is expected in 2019 over 2018.

Fruit Juices and Concentrates Consumed 35% of the Beverage Acidulants in 2018

Beverage acidulants are heavily consumed in fruit juices and concentrates production. The FMI study reveals that 35% of the total beverage acidulants were consumed by fruit juices and concentrates in 2018.

While higher consumption in fruit juices and concentrates is likely to continue in the coming years, dairy-based beverages and alcoholic beverages are set to register increasing application of beverage acidulant wherein former is expected to grow at nearly 6% and later at 5.7% in 2019.

Beverage Acidulant Consumption in Europe Continues to Surge

The FMI study finds that Europe remains a prominent consumer of beverage acidulants wherein demand remains consolidated in the UK and Germany. While Europe held over 35% of the global beverage acidulants volume sales, Germany and the UK collectively consumed nearly two-fifth of Europe’s demand.

Buoyancy in Europe’s beverage industry in the wake of millennial’s evolving preference combined with a number of beverage industry players in the region. European soft drink industry plays a significant role in the region’s economic development wherein the industry provides a significant number of jobs throughout the value chain.

North America followed by China are other leading consumer of beverage acidulants. Collectively, these regions accounted for over 42% of the global beverage acidulants volume sales reported in 2018.

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The FMI report tracks the beverage acidulants market for the period 2019-2027. According to the report, the beverage acidulants market is projected to grow at 4% volume CAGR through 2027.

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Modular Data Centre Market Poised to Register a 22.3% CAGR by 2028

The global modular data centre market is expected to register a global CAGR of 22.3% during 2018 – 2028, with Western Europe and North America accounting for approximately 60% market value shares by the end of the forecast period.

FMI delivers key insights on the global modular data centre market in its report titled “Modular Data Centre Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028.” Growth in the market value of the global modular data centre market will remain attractive as the market is expected to grow continuously at a CAGR of 22.3% in terms of value during the forecast period 2018 – 2028. On the basis of solution, the all-in-one containers segment is expected to register attractive growth over the forecast period in the global modular data centre market.

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Under the all-in-one containers segment, 20-feet containers are expected to dominate the global modular data centre market throughout the forecast period. Based on data centre size type, the small data centres segment is expected to gain a higher market share during the forecast period in the global modular data centre market. Based on industry vertical, the healthcare, telecom & IT and manufacturing segments are expected to witness a comparatively higher CAGR in the global modular data centre market.

The global annual revenue from the modular data centre was valued at US$ 4,832.1 Mn by the end of 2017, which is expected to grow at a significant pace over the coming years. With the progression of time, a declining Y-o-Y growth trend is expected in the latter half of the forecast period. The dominating regions, i.e., North America, China, SEA & Other of APAC and Western Europe, are expected to collectively account for a majority share of the global modular data centre market. The North America modular data centre, APAC (including China and Japan) modular data centre and Western Europe modular data centre markets are likely to dominate the global modular data centre market over the forecast period.

The integration of IT modules, power modules and cooling modules individually as well as in the form of a container offers various advantages such as low service cost, enhanced output, portability, mobility, etc., over conventional data centres. Owing to these advantages, a higher preference for modular data centres is now witnessed among data centre customers. The ease of deployment and the compact size is also expected to boost the adoption of modular data centres in the global market, especially in countries that lack spaces to establish conventional data centres such as India, China, etc. A high adoption of modular data centres have been witnessed since its inception in the telecom & IT and BFSI industry verticals owing to the generation and the need for storage of high-volume data. Besides this, modular data centres have also been adopted by various governments for storing the data as a backup to deal with expected disasters and emergencies. In addition, the growth of the manufacturing and healthcare industry verticals worldwide in terms of value is correspondingly expected to increase the adoption of modular data centres.

On the basis of FMI analysis, a considerable traction of services is expected with the increasing deployment and installation of modular data centres globally. Under the independent containers segment, the IT modules segment is expected to witness a decline in its prices during the latter half of the forecast period. Among the services segments, the maintenance and support segment is expected to witness the maximum growth rate during the forecast period. One of the major factors driving the small-sized data centres is the increasing demand for micro-modular data centres in the global modular data centre market.

The North America modular data centre market is expected to dominate the global modular data centre market due to the high presence of modular data centre providers as well as a strong IT and telecom industry in the region. The modular data centre market in China has high potential owing to an increase in the number of SMEs in the region. The SEA and Others of APAC modular data centre market will be a target market for market participants owing to the high growth opportunities in countries such as India. MEA modular data centre market is estimated to grow at an above-average CAGR over the forecast period. GCC Countries is expected to hold a major revenue share in the MEA modular data centre market over the forecast period. Japan is, however, expected to witness restricted adoption as well as low growth rate during the forecast period in the global modular data centre market.

According to FMI analysis, the launch of advanced and smart modular data centres by modular data centre providers and strategic collaborations with an intention of catering to an unaddressed market will help increase revenue.

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Examples of some of the market participants in the global modular data centre market report are Airedale Air Conditioning; Baselayer Technology, LLC; CUPERTINO ELECTRIC, INC.; CyrusOne; Dell; Delta Power Solutions; Eaton; Hewlett Packard Enterprise Development LP; Huawei Technologies Co., Ltd.; Inspur Technologies Co., Ltd.; International Business Machines Corporation; Keysource; Rittal GmbH & Co. KG; Schneider Electric and Vertic, Co.

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Non-Alcoholic Malt Beverages Market will Exhibit a Steady CAGR 4.0 by 2028

Future Market Insights (FMI) delivers key insights on the global non-alcoholic malt beverages market in its upcoming outlook titled 'Global Market Study on Non-alcoholic Malt Beverages: Pairing Options with the Flavors of Non-alcoholic Malt Beverages Likely to Please the Food Palates of Consumers'. In terms of value, the global non-alcoholic malt beverages market is projected to register a healthy CAGR of 4.0% during the forecast period, due to various factors, regarding which, FMI offers vital insights in detail.

Non-alcoholic malt beverages are non-alcoholic drinks that have the nutritional content of that of barley. Non-alcoholic malt beverages and other non-alcoholic drinks is the new trend that is coming up as a healthier alternative to alcoholic drinks. The negative factors of alcoholic drinks are far higher. Thus, the market for non-alcoholic malt beverages is expected to increase in the coming years in all parts of the world. Non-alcoholic malt beverages are already very popular in the in the Middle East due to them getting halal certification.

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Consuming non-alcoholic malt beverages has also become a statement of higher living standards. Also, the taste of malt beverage is good as compared to that of alcoholic beverages. Non-alcoholic malt beverages are available in the market in many different flavors so that people get a choice to select their preferred drink. A few non-alcoholic malt beverages resemble beer in taste, and the only difference remains that these non-alcoholic malt beverages contain zero percent alcohol. The consumption of non-alcoholic malt beverages can be done by consumers irrespective of the religious and age factors due to the no alcohol content.

In terms of revenue, the global non-alcoholic malt beverages market is expected to represent an incremental opportunity of US$ 856.2 Mn by 2018 end over 2017. By product type, the dairy-based non-alcoholic malt beverages segment is expected to register a CAGR of 4.1% in the non-alcoholic malt beverages market.

Non-alcoholic Malt Beverages Posing a Healthy Alternative to Alcoholic Drinks

Consumers are looking for healthy alternatives in the market for the every products that they consume. Alcoholic beverages contain a high amount of alcohol, and are unhealthy if consumed on a daily basis. Also, if consumed on a daily basis or in excess, certain diseases are bound to occur. The nutritional content in alcoholic beverages is very less or almost equivalent to zero. The search for a healthier and nutritional alternative has led to the interest in non-alcoholic malt beverages. Malt is a source of sugar and nutrients that are obtained from the ingredients added in making non-alcoholic malt beverages. Also, most companies incorporate extra nutrients into their non-alcoholic malt beverages, which makes their market value higher. For example, many non-alcoholic malt beverages such as Milo, Vitmalt, Hollandia Chocomalt, etc., have extra nutritional content incorporated during the production of the RTD non-alcoholic malt beverage. Due to this, they are used by athletes and are also given to children as an energy drink.

Non-alcoholic malt beverages is also an upcoming trend seen in countries that have an improved economic condition, where the consumption of beverages is a must in social gatherings, and the standard of living is high. The appeal of non-alcoholic malt beverages is also increased due to social media, which is being used by most companies, especially targeting the youth population. Women are also seen to be consuming RTD non-alcoholic beverages such as non-alcoholic malt beverages. Women have always been known to try different flavors and experiment with their drinks. Also, the health factor is given importance by women, and non-alcoholic malt beverages, having no alcohol, are proving to be a healthy option.

Companies could focus on reaching the consumer base in several untapped markets in order to generate sales and increase revenue from the global non-alcoholic malt beverages market. There are several regions where malt-based beverages are imported from other countries.

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This leads to the high cost of premium products, as such, affecting sales in these regions. Companies are focusing on expanding and manufacturing their premium products in these regions itself, leading to comparatively lower costs. Low penetration in a few regions, coupled with the high costs of premium imported products, create an opportunity for manufacturers to expand in such regions.

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Furfuryl Alcohol Market is Poised to Exhibit A Moderate 6.0% CAGR by 2028

Furfuryl alcohol (C4H3OCH2OH), also known as 2-furylmethanol or 2-furancarbinol, is an organic compound containing a furan substituted with a hydroxymethyl group. Furfuryl alcohol is made from furfural by means of catalysis with hydrogen. It is colourless or pale yellow in appearance and finds adoption in various applications. As a result, the global market for furfuryl alcohol is expected to witness significant growth in 2018, reaching a market value of US$ 836.2 Mn with a y-o-y growth rate of 4.5% as compared to 2017. Furthermore, the global demand for furfuryl alcohol will also be influenced by the rising utilisation of the chemical in pharmaceutical solvents and wood impregnation.

The strong shift towards the development of bio-based chemicals against the backdrop of volatile petrochemical prices is expected to remain a key driver for the growth of furfuryl alcohol market. Predominantly, over the years, the consumption of furfuryl alcohol in foundry resins has reached an unprecedented level, owing to the physical and chemical properties possessed by furfuryl alcohol.  Increasing industrial production, relatively stable economic conditions and consistent growth in automotive sales in various regions such as India, SEAP and China are the factors estimated to drive the growth in the demand for furfuryl alcohol.

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In the recent past, the furfuryl alcohol market has witnessed significant developments from the competition perspective. Production capacity expansion and commencement of production are some of the preferred strategies opted by prominent players to sustain and enter in the global furfuryl alcohol market.

Based on the application, the foundry resin segment is expected to remain dominant in terms of the global furfuryl alcohol market volume share and account for approximately an 88.6% share by the end of 2028.

Based on source type, corn cob raw material is expected to remain behemoth in the global market and account for more than 86% of the revenue by 2028-end. Corn cob is one the most consumed raw materials in the production of furfural and then, furfuryl alcohol. On the other hand, the production of furfuryl alcohol from sugarcane bagasse is expected to grow at a CAGR of 6.4%. In terms of growth, bagasse will remain one of the most attractive segments. Importantly, sugarcane bagasse has a yield just next to that of corn cob.

In 2017, China was the most attractive region in the global furfuryl alcohol market and accounted for more than 61.3% of the global market share. Further, being at the forefront in terms of furfuryl alcohol production and consumption, China is pegged to control the global furfuryl alcohol market in the future as well.

The increasing demand for furfuryl alcohol has influenced prominent manufacturers to expand their production facilities. In India, various manufacturers are poised to start the production of furfuryl alcohol on account of the anticipated demand rise in the coming years.

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Hongye Holding Group Corp., Ltd., Zibo Huaao Chemical Co., Ltd., International Furan Chemicals B.V., China XLX Fertilizer Ltd., Aurus Speciality Company Limited, Xingtai Chunlei Furfuryl Alcohol Co., Ltd., Silvateam, Shijiazhuang Worldwide Furfural and Furfuryl Alcohol Furan Resin Co. Ltd., KRBL Ltd. and Illovo Sugar (PTY) Ltd. are some of the key players involved in the global furfuryl alcohol market.

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Bakery Enzymes Market is Expected to Surpass US$ 1,285 million by 2028

Future Market Insights delivers key insights and presents a revised forecast of the global bakery enzymes market for a 10-year period from 2018 to 2028 for the report titled 'Bakery Enzymes Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028'. Revisions in the bakery enzymes market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of key market participants. The global bakery enzymes market is estimated to be US$ 733.3 million in 2018, and is expected to reach US$ 1,285 million by 2028, with a CAGR of 5.8% during 2018-2028, revised from the previous CAGR of 4.2%, due to factors regarding which FMI offers useful insights in detail in this report.

The bread producing industry is witnessing substantial development on account of the increasing population, thus positively impacting the global baking enzymes market growth. Food products like burgers, pizzas, and sandwiches are consumed in abundance by customers, and these needs are fulfilled by retailers like Subway, Pizza Hut, etc., where the use of bread is large in quantity. Consequently, these factors are going to be the driving force of the bakery enzymes market during the period of forecast.

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The demand for breads of reliable quality having a better shelf-life have led to the use of additives like enzymes, emulsifiers, etc. Datem emulsifiers (baking emulsifiers) have been used to enhance bread volume, texture, and dough stability. However, there has been an increased interest in bakery enzymes, as researchers are more attracted to bakery enzymes, as the enzymes used in baked goods are denatured while baking, and are not noticeable in the product obtained; means, they can be labelled as clean label products that do not list E numbers of additives on the list of ingredients. More and more manufacturers are entering the bakery enzymes market, as the market is gaining significant traction. Some of the key players in the bakery enzymes market are Corbion N.V., Royal DSM, Purato Group, Novozymes, Advanced Enzymes, and Amano Enzymes, among others.

The global bakery enzymes market witnesses a major contribution from enzymes like carbohydrase and protease. Bakery enzymes are used in a large spectrum of products such as breads, biscuits & cookies, cakes and pastries, and flour preparation. Among all the segments mentioned, bread is predicted to represent more than 65% of the volume share of the overall bakery enzymes market by 2028. Due to the increasing consumption of ready-to-eat products, fast food products like pizzas, burgers, sandwiches, etc., the demand for bakery enzymes is predicted to grow at the highest rate.

Moreover, the bakery enzymes market is segmented by product type in this report. Bakery enzyme product types include carbohydrase, protease, lipase, and other enzymes.

The enzyme carbohydrase used in the bakery sector comes from bacterial sources (83% of total), owing to its high thermal stability. For applications in baked goods, the carbohydrase market size was around 67,000 ton in 2015. The global carbohydrase market was valued at US$ 339 Mn in 2017, and is expected to reach around US$ 650 Mn by 2028. FMI projects the fastest growing region for carbohydrase baking enzymes to be APEJ during the period of forecast, owing to the increasing market, majorly in India and China.

Customer demand for clean label products will drive the demand for bakery enzymes.

Target Geographies

The global bakery enzymes market report has been segmented by geography into seven regions, namely, APEJ (Asia Pacific excluding Japan), MEA (Middle East & Africa), Japan, Latin America, North America, Eastern Europe, and Western Europe.

Western Europe, North America, and APEJ, together, constitute more than 85% of the bakery enzymes market share. Currently, North America is the largest bakery enzymes market in terms of both, size and volume, and is expected to dominate throughout the forecast period. However, APEJ would emerge as the liveliest market for bakery enzymes in terms of absolute increment, ahead of every other region. Producers are targeting the emerging economies of APEJ, LA, and MEA, as these regions are considered as the underdogs of the market.

Trends

There is an increasing trend towards bakery enzymes in bakery products like breads, biscuits & cookies, caked & pastries, and baked goods, as customers are increasingly inclined towards healthier food and suitable bakery options that are low in sugar and comprise nutritive ingredients. Government guidelines are extremely supportive towards the use of clean label products. Consequently, there are multiple supply side and demand side drivers powering the expansion of the global bakery enzymes market. Due to trends like 'out-of-home, to go arena', which have witnessed a sharp increase in the past few years, bakery products are being increasingly consumed, thus driving the growth of the bakery enzymes market.

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Furthermore, in certain regions, consumers are more inclined towards organic food products. The production of bakery enzymes for organic and gluten-free breads are trending. For instance, Royal DSM, a major player in the bakery enzymes market, has designed a special product portfolio of bakery enzymes suitable for organic labelling, compliant with EU and USA legislations for bakeries wanting to develop organic breads. The key markets for bakery enzymes are located in North America, China, India, Southeast Asia, and Europe.

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Plant-Based Beverages Market is Poised to Register a 6.7% CAGR by 2028

Future Market Insights delivers key insights and presents a revised forecast of the global plant-based beverages market for a 10-year period from 2018 to 2028 for the report titled 'Plant-based Beverages Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028'. Revision in the market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of key market participants. The global plant-based beverages market is estimated to be US$ 247,848.8 million in 2018, and expected to reach US$ 474,666.1 million by 2028, with a CAGR of 6.7% during 2018-2028, revised from the previous CAGR of 5.2%, due to factors regarding which FMI offers useful insights in detail in this report for plant-based beverages.

The market for plant-based beverages is anticipated to increase over the forecast year, owing to the increasing health and wellness consciousness among the population, and the growing vegan/vegetarian/flexitarian trend, along with dietary restrictions including lactose intolerance and food-related allergies.

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The global plant-based beverages market has been segmented on the basis of source into three categories, namely, dairy alternatives, RTD drinks, and plant-based juices. Among all the three categories of plant-based beverages, the dairy alternatives market is growing at the highest CAGR, making it the most attractive category for plant-based beverage manufacturers. Shifting consumer preferences for natural and healthy products have fuelled the adoption of plant-based beverages in the food & beverage industry.

Global Plant-Based Beverages Market Scenario

The plant-based beverages market witnesses a significant contribution from dairy alternatives like almond milk, soy milk, coconut milk, rice milk, oats milk, seed milk, and cashew milk, which is expected to reach US$ 25,779.8 million by 2028. Increasing consumer inclination towards non-dairy plant-based beverages is resulting from the growing prevalence of lactose intolerance among people and various food-allergies associated with dairy products. Thus, plant-based beverage manufacturers are offering many non-dairy beverages in different flavors and taste to fulfill the consumer demand for a tasty, healthy, and nutritious drink. The market for plant-based beverages also includes a contribution from RTD drinks, including tea and coffee, and plant-based fruit and vegetable juices.

The plant-based beverages segment is further categorized into organic and conventional on the basis of nature. Organic plant-based beverages are anticipated to overtake conventional plant-based beverages, with an expected CAGR of 7.2% by 2028, owing to the increasing awareness of consumers in developed regions about the quality and health benefits of organic food products, and increasing per capita disposable income of consumers.

One of the prominent reasons for consumer inclination towards plant-based beverages is the growing trend for vegan/vegetarian/flexitarian diets. Consumers are turning away from animal-based products due to the increasing awareness for animal welfare and the environment, and thus, are switching to healthier alternatives of plant-based products including plant-based beverages and opting for vegan/vegetarian diets.

Target Geographies for Plant-Based Beverages

The report for plant-based beverages has been segmented into seven regions, namely, APEJ (Asia Pacific excluding Japan), MEA (Middle-East & Africa), Japan, Latin America, North America, Eastern Europe, and Western Europe.

Western Europe, North America, and APEJ, together, constitute more than 79.5% of the market share for plant-based beverages. Currently, APEJ is the largest market in terms of size, and is expected to dominate through the forecast period. However, APEJ would emerge as the most vibrant market in terms of absolute increment, just behind North America. Manufacturers are targeting the emerging economies of APEJ and MEA, as these are relatively under-penetrated markets, and the per capita disposable income of consumers are increasing in these regions making the demand for plant-based beverages increase.

Trends for Plant-Based Beverages

Plant-based beverages are expected to witness a rapidly growing trend over the forecast years, owing to changing consumer eating habits. Consumers are becoming more conscious about health and wellness, are opting for natural products which fulfill the demands for taste, flavor, and nutrition thus plant-based beverages market is pacing. The need for plant-based beverages is increasing, as other beverage alternatives like carbonated drinks, soft drinks, and energy drinks have an adverse effect on the health of consumers, such as obesity, diabetes, and high blood pressure, due to higher sugar content and presence of artificial additives.

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Plant-based beverages are a healthier and natural alternative to their animal-based counterparts, and thus, are attracting a significant consumer base. Manufacturers of plant-based beverages are offering new and innovative flavors and ingredients to attract consumers, such as plant-based coffee, flavored plant-based milk, and blends of vegetable and fruit juices.

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Wood Pellet Market is projected to grow at a CAGR of 8.7% by 2027

Future Market Insights (FMI) delivers key insights on the wood pellet market in its latest report titled, 'Global Wood Pellet Market: Global Industry Analysis and Opportunity Assessment, 2017–2027'.According to the report, the global wood pellet market is projected to expand at a healthy CAGR of 8.7% during the forecast period in terms of revenue.

Wood pellets are defined as are biofuel made from compressed organic matter or biomass. These technologies use a wide range of materials such as forest & wood waste, agricultural residue, and other substances.

Factors such as increasing consumption of wood pellets, increasing health consciousness among consumers, high consumption of wood pellets for residential heating, growing demand for wood pellets for electricity generation, growing exports of wood pellets rapidly growing demand for domestic wood pellets and energy, and climate change are the factors that drive the market. Enterprises and individuals, nowadays, need products that are environmentally-friendly. Collaborations between suppliers and producers ensure a strong bonding and progressive activities, and enhance the development process. This demand has given rise to the increased production of wood pellets.

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Government certification is a valuable tool to assure customers that the wood pellets are made from sustainably managed forests. Increasing certification criteria is the key restraining factor of the North American wood pellet market while exporting to other countries, where various rules mandate renewable energy production. The procurement policy of wood pellets is also one of the key restraining factors in the market here. The Sustainable Forestry Initiative and Forest Stewardship Council are the certification organizations in North America.

19% of U.S. commercial forestland is certified by major U.S. standards.

According to the Wood Pellet Association of Canada, approx. 9% of the world’s forests are certified. Out of them, more than 40% forests are in Canada, which makes these forests as an ideal source of wood pellets.

On the basis of region, Western Europe is estimated to be the largest market for wood pellets, accounting for 72.6% value share of the global wood pellets market in 2017. The region continues to dominate the market, and is expected to continue to do so throughout the forecast period.

Eastern Europe exports most of its produced wood pellets to other countries such as Germany and the United Kingdom, where it requires certification for exports. Various industries are focusing on getting certified with DINplus and green energy certifications, which will help in exporting the produced wood pellets. The rapid rate of the production of wood pellets in countries like Poland, Czech Republic, and Slovakia is a major driving factor of the wood pellet market in Eastern Europe, owing to the high amount of exports to the other developed countries of Western Europe.

On the basis of end use, the industrial pellets for co-firing segment is projected to exhibit a CAGR of 11.0% and and 9.1% in terms of market value and volume, respectively, during the forecast period. This is attributed to the increasing demand for wood pellets in a wide range of end-user applications.

The markets in APEJ, Western Europe, MEA, and Latin America are anticipated to contribute majorly to the global wood pellet market. The market in Western Europe is expected to account for 69.6% share in terms of value in the global wood pellet market, and be valued at US$ 14,694.6 Mn by 2027 end. The increasing demand for wood pellets for residential heating and energy and climate change in Western Europe is expected to fuel revenue growth of the market in the region. The market in Western Europe is estimated to be valued at US$ 6,686.2 Mn by 2017 end, and projected to expand at a CAGR of 8.2% during the forecast period.

Factors such as increasing consumption of wood pellets, increasing health health consciousness among consumers, high consumption of wood pellets for residential heating, growing demand for wood pellets for electricity generation, growing exports of wood pellets, growing demand for domestic wood pellets and energy, and climate change are expected to drive revenue growth of the global wood pellet market. 

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Key market participants covered in the report include Drax Biomas Inc, Rentech, Inc, Enviva Partners, LP, German Pellets GmbH, Viridis Energy Inc, AS Graanul Invest, Pinnacle Renewable Energy Inc, Lignetics of Idaho, Inc, Zilkha Biomass Energy, LLC, and Energy Girvan Limited.

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Water Softening System Market will Account for Around US$ 18,089.6 Mn by 2028

Future Market Insight has rolled out a new market research report on, “Water Softening Systems Market: Global Industry Analysis 2013-2017 and Forecast, 2018-2028,” which examines the Water Softening Systems market and offers critical insights for the next ten years. Based on the findings specified in the report, the market is expected to witness increasing demand and applications in several industries. The estimated value of the global Water Softening Systems market in 2018 is US$ 8,923.7 Mn and the market is expected to expand at a CAGR of 7.3% and reach US$ 18,089.6 Mn by 2028 and is projected to create incremental $ opportunity worth US$ 9,165.9 Mn over the forecast period.   

Global Water Softening Systems Market Dynamics        

Increasing number of households and growing disposal income are anticipated to drive the global water softening systems market over the forecast period. For instance, the number of households in the U.S. alone reached nearly 126 Million by the end of 2017. Moreover, increasing disposable income, especially in developing regions across the globe, is another factor projected to drive the demand for water softening systems during the forecast period.

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Growing supportive government policies are also projected to enrich the global water softening systems market over the forecast period.

However, there are some disadvantages associated with the use of Water Softening Systems which can hinder the growth of the global market in the upcoming years. Some such potential disadvantages are potential health risks for people on low sodium diets and elimination of calcium and magnesium ion from diet, which directly affects human health.  

Global Water Softening Systems Market Forecast

By application, in terms of value, the residential segment is expected to hold the largest share in the water softening systems market owing to significant installation of water softening systems for household purposes. In brief, residential segment is expected to dominate in the water softening systems market and will capturing a market share of nearly 43.9%, in terms of value, by 2018 end. Residential segment is further categorized into salt based water softening systems and salt free water softening systems. The salt based water softening systems segment is in declining phase as salt based water softening systems produce excessive sodium ion, which negatively affects fertility of fields. This is the primary reason why the U.S. government has banned salt based water softening systems. The U.S. government can impose a fine of US$ 2000 if it finds a salt based water softening system in a house. The application segment is expected to grow with a collective CAGR of 7.3% in the global water softening systems market over the forecast period.

On the basis of operation, electric segment holds the dominating share in the global water softening systems market owing to rising automation in the water treatment equipment. In terms of value, the market size of non-electric water softening systems segment is estimated to be pegged at US$ 1,852.4 Mn by end of 2018. Growing with a CAGR of 5.7%, the non-electric water softening systems segment is projected to account for ~ 15.0% share in the overall water softening systems market’s absolute $ opportunity over the forecast period.

On the basis of design, twin tube segment is expected to dominate in the water softening systems market with a value share of nearly 56.1% by the end of 2018. Twin cylinder water softening systems provide better soft water flow or supply as compared to mono cylinder water softening systems. Furthermore, twin cylinder water softening systems are costlier than mono cylinder water softening systems. However, multi cylinder water softening systems is anticipated to account for half of the value share of mono cylinder water softening systems during the forecast period.

On the basis of region, North America is projected to dominate in the global water softening systems throughout the forecast period. Western Europe is followed by North America in the global water softening systems market and is projected to grow with a CAGR of 4.1% over the forecast period. In North America, the U.S. accounts for approximately 89% of hard water and Canada accounts for approximately 80% of hard water. In terms of CAGR, Middle East & Africa region is anticipated to grow with an addressable CAGR of 11.7% in the global water softening systems market, which is higher compared to other regions’ CAGR. Moreover, Japan is projected to grow with minor value share in the global water softening systems market over the forecast period.

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Global Water Softening Systems Market Competitive Landscape

Some of the prominent players involved in the manufacturing of Water Softening Systems and included in this study on water softening systems are EcoWater Systems LLC, Culligan International Company, Kinetico Incorporated, Hydroflux, Envicare Technologies Pvt. Ltd., Wychwood Water Systems Ltd., Harvey Water Softeners Ltd., Pelican Water Systems, BWT AG, Marlo Incorporated, Monarch Water Ltd., Qingdao Haier Co., Ltd., Atlas Filtri, Watts Water Technologies Inc., and dwater Limited.