Agricultural Biologicals Market to Worth USD 20.59 Billion by 2026

With the incidence of pest outbreaks on the rise, the global agricultural biologicals market is expected to grow considerably during the forecast period. Fortune Business Insights shares its findings in its report. The report also incorporates an in-depth analysis of the probable market trends and the factors that will influence the market. The global agricultural biologicals market size was valued at USD 7.42 billion in 2018 and is projected to reach USD 20.59 billion by the end of 2026 at 13.68% CAGR.

Agricultural biologicals refer to a group of products derived using natural sources such as plant extracts, selected insects, and microorganisms such as fungi and bacteria. The most commonly used biological products in agriculture include bio-fertilizers, bio-stimulants, and bio-pesticides.

Rising Demand for Better Quality Farm Yields to Drive the Market

The global agricultural biologicals market growth is set for a major upsurge owing to the climbing demand for naturally-extracted productivity-enhancing products. These biologicals entail a host of economic benefits.

For example, a study conducted by the Food and Agriculture Organization in Lesotho showed that conservation agriculture, wherein biologicals are a key component, has greater efficiency as high output levels are achieved with lower inputs. There was also a marked increase in agricultural yields where biologicals were employed. Thus, the economic feasibility of biologicals will boost the global agricultural biologicals market revenue.

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Increasing Environmental Concerns to Spur the Adoption Rates of Biologicals

According to the FAO, agricultural biologicals possess a variety of agronomic and environmental advantages. For example, regular infusion of crop residue increases the organic content of the soil, improves soil quality and structure, and aids water conservation. The cumulative effect is enhanced productivity in quantitative and qualitative terms, which bodes well for the global agricultural biologicals market.

Quality yields have taken high priority as synthetic chemical fertilizers and pesticides are known to diminish the nutritional value of foodstuffs. Environmental benefits, closely linked to the economics of biologicals, are manifold. For example, sustainable agricultural practices can increase biodiversity in soils, enhance carbon sequestration capabilities of soil, improve air quality, and prevent unnatural soil erosion.

Innovations and Acquisitions to Intensify Competition

Investing in innovation and acquiring companies to expand presence in the global agricultural biologicals market are emerging as the key strategies being adopted by the participants. For example, in July 2019, the Dutch company, Koppert Biological Systems, acquired Argentina-based Nitrasoil to mark its entry into South America and diversify its portfolio by including inoculants in its product range. In 2018, Bayer developed Serenade ASO, a biological crop protection product that can fight bacterial and fungal crop diseases.

Fortune Business Insights identifies major players that hold a significant portion in the global agricultural biologicals market share. These include Valent Biosciences, Bayer, UPL, Syngenta, Marrone Bio Innovations, Koppert, and others.

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Legislative Support to Boost the Market in North America

The passing of laws such as the recent Pesticide Registration Improvement Extension Act of 2018 (PRIA 4) is expected to swell the global agricultural biologicals market size in North America. Similar efforts at effective regulation of biological products in the agricultural landscape is expected in Europe, which will put it close at heels with North America in terms of market share and revenue.

Nitrogenous Fertilizers Market Size to Reach USD 140.51 Billion by 2026

The global nitrogenous fertilizers market size is projected to reach USD 140.51 billion by the end of 2026. The massive investments in the R&D products with active ingredients will aid the growth of the market. According to a report published by Fortune Business Insights, titled "Nitrogenous Fertilizers Market Size, Share & Industry Analysis, By Type (Urea, Calcium Ammonium Nitrate, UAN, Ammonium Sulphate, and Other Nitrogenous Fertilizers), By Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Turf & Ornamentals), and Regional Forecast, 2019 – 2026,” the market was worth USD 113.70 billion in 2018 and will exhibit a CAGR of 2.73% during the forecast period, 2019-2026.

Nitrogenous fertilizers are products that are produced through combination of substances that are inclusive of nitrogen. The constantly rising global population has created a subsequent demand for crop produce across the world. Recent advances in agricultural activities will emerge in favor of the companies operating in the market. The increasing number of agricultural subsidies will bode well for nitrogenous fertilizer vendors across the globe. The ability of nitrogenous fertilizers to improve the nutrient content of agricultural crop produce will lead to a wider adoption of the product across the world.

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List of best companies that are operating in the nitrogenous fertilizers market include;

Yara International ASA
Nutrien Ltd.
EuroChem Group AG.
CF Industries Holdings Inc.
PJSC Togliattiazot
Koch Fertilizers, LLC
OCI Nitrogen
Sinofert Holdings Limited
Coromandel International Ltd.
URALCHEM Holding Plc.

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Increasing Number of Company Collaborations Will Aid Market Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. The increasing number of company mergers and acquisitions has had a massive impact on the growth of the market. Accounting to the massive demand for crop and crop produce across the world, large scale companies are looking to acquire smaller companies with a bid to establishing a stronghold in the market. In November 2019, Nutrien Ltd. announced that it has completed the acquisition of Ruralco Holdings Ltd. Through this acquisition, the company plans to build on its existing range of nitrogenous fertilizer products. Due to the massive global customer reach of the company, this acquisition will not just help the company growth, but will also have a massive impact on the growth of the market in the coming years.

Asia Pacific Holds the Highest market Share; Growing Demand for Crop Produce Will Aid Growth

The report analyses the ongoing nitrogenous fertilizers market trends across North America, Latin America, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific holds the highest market share, driven by the huge demand for crop produce in several countries across this region. Besides Asia Pacific, the market in North America will witness considerable growth in the coming years. As of 2018, the market in North America was worth USD 21.18 billion and this value is projected to increase further in the coming years.

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Agricultural Biologicals Market Size, COVID19 Impact Analysis, Industry Growth, Forecast 2019-2026

The global agricultural biologicals industry is expected to witness prominent growth in the coming year son account of the increasing need to feed the growing population with better quality agrarian production. The rising incidences of pest outbreaks destroy fields at a stretch in no time. Many farmers face huge losses every year. Pesticides and chemicals used in crops are harmful to humans when consumed, and this led to the adoption of biologicals. A recent report by Fortune Business Insights titled, “Agricultural Biologicals Market Size, Share and Industry Analysis By Type (Biopesticides, Biostimulants, and Biofertilizers), Source (Microbial and Biochemicals), Application Method (Foliar Spray, Soil Treatment, Seed Treatment, and Others), By Crops, and Regional Forecast 2019-2026,” states the market size was USD 7.42 billion in 2018 and is likely to rise at a CAGR of 13.68% to reach USD 20.59 billion by the end of 2026. The forecast duration is set between 2019 to 2026.

The Report Answers the Following Queries:

What is the nature of the market?
How will stringent regulations on chemical and synthetic fertilizers drive the market for agricultural biologics?
What are the key drivers and restraints of the market?
What the significant industry developments, and current trends of the market?

COVID-19 Impact Analysis:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Drivers & Restraints-

Rising Incidences of Pest Outbreaks to Boost Market

Most of the chemicals used in crops exploit and pose a threat to the environment. The rise in awareness about the harmful effects of chemicals on vegetables is a significant factor in promoting the agricultural biologicals market growth. Besides this, the increasing demand for supreme quality yielded farm production and the need for protecting them from pests will aid in the expansion of the market. Additionally, the growing awareness about crop protection and crop nutrition products among farmers and agricultural enthusiasts will also augment growth.

On the contrary, crops yielded out of this procedure have a lower shelf life as compared to crops produced out of chemical and synthetic fertilizers, and this may challenge the market. Nevertheless, strict regulations imposed by various regulatory bodies on the use of synthetic or artificial biologicals are likely to create lucrative growth opportunities for the market in the coming years.

Segment-

Biopesticides Segment to Cover Major Shares on Account of Increasing Inclination Towards Developing Pest Resistance Products

Based on segmentation by type, the biopesticides segment earned 51.8% agricultural biologicals market share. This is attributed to the increasing preference towards pest-resistant products for their crops. This, coupled with the growing demand for organic farming, is promoting the sale of this segment and further expected to continue doing so in the coming years.

Regional Analysis-

North America and Europe to Dominate Market Due to Stringent Regulations Imposed on Synthetic Chemicals

Based on geographical segmentation, both Europe and North America are holding an estimated 60% or more share of the market. This is attributed to the advent of advanced agricultural technologies to develop products, coupled with the strict laws imposed on the use of synthetic chemicals for protecting crops. Additionally, the increasing number of organic farms in significant economies such as Mexico and the U.S. is likely to help these regions continue dominating the market in the forecast years as well. In 2018, North America earned a revenue of USD 2.40 billion.

Competitive Landscape-

Players Engaging in Geographical Expansion for Gaining Competitive Edge

Companies operating in the market for agricultural biologicals are investing heavily on product development and uses in various sectors such as horticulture, agriculture, and forestry, to gain significant shares. Besides this, players are also waiting to get approvals from regulatory bodies and pest management services for their products, thereby helping them to maintain their strategic position in the market. Furthermore, players are emphasizing on geographical expansion, offering a diverse portfolio.

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Nutraceuticals Market to Reach USD 658.11 Billion by 2028

The global nutraceuticals market size is expected to gain momentum by reaching USD 658.11 billion by 2028 while exhibiting a CAGR of 9.3% between 2021 and 2028. Fortune Business Insights in its latest report, titled, “Nutraceuticals Market, 2021-2028.”, mentions that the market stood at USD 320.00 billion in 2020. Factors such as the increasing personalization in nutritional diet and the increasing investment in R&D activities are expected to propel the demand for the product in the forthcoming years.

For instance, in July 2019, General Mills announced its collaboration with GoodBelly to produce and distribute lactose-free yogurts and a probiotic-based cereal to cater to the growing demand from consumers. Therefore, the increasing focus on the personalization of nutrition has propelled companies to introduce healthy food products worldwide.

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Massive Spike in Demand for Healthy Food Products amid COVID-19

The COVID-19 pandemic has brought upon a turbulent time for several economies worldwide. However, it has also been an eye-opener for people globally to adopt a healthy and nutritious diet with a core focus on building strong immunity. The demand for vitamins and minerals has surged significantly and people are consuming immunity-boosting products to ensure protection from chronic and infectious diseases. This is expected to bode well for the growth of the market in the forthcoming years.

Market Segmentation:

Based on product type, the market is trifurcated into dietary supplements, functional foods, and functional beverages.

On the basis of product type, the dietary supplements segment held a global nutraceuticals market share of about 19.12% in terms of revenue in 2020 and is likely to experience considerable growth. This is due to the several companies focusing on expanding their dietary supplement production facilities to cater to the growing consumer demand.

Based on the distribution channel, the market is categorized into hypermarkets/supermarkets, convenience stores, online retail, and others. Lastly, on the basis of region, the market is segregated into Asia-Pacific, North America, Europe, South America, and the Middle East and Africa.

What does the Report Include?

The global market for nutraceuticals report includes an in-depth analysis of the market and focuses on crucial aspects such as materials, leading companies, applications, and products. Also, the report offers insights into the latest trends and highlights key industry developments. The report further includes historical data & forecasts revenue growth at global, regional, and country levels and analyzes the industry's latest dynamics and opportunities that will impact the market growth between 2021 and 2028.

DRIVING FACTORS

Increasing Investment in Product Development to Favor Growth

In January 2020, Archer Daniels Midland Company announced the acquisition of Yerbalatina Phytoactives, a leading manufacturer of natural plant-based extracts and ingredients. The company with its investment aims to strengthen its position in the market. Similarly, several companies are focusing on investing in R&D activities to develop and introduce health-benefiting food products to cater to the growing demand for nutritious products worldwide. Moreover, the development of natural food products devoid of any harmful substances will boost the global nutraceuticals market growth in the forthcoming years.

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REGIONAL INSIGHTS

Asia-Pacific to Remain at Forefront; Demand for Functional Foods to Increase in North America

Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the market during the forecast period. The dominance is attributable to the presence of a large population and the improving living standards in countries such as India, Japan, and South Korea, among others that will boost the demand for nutraceuticals in the region. Moreover, the region stood at USD 124.70 billion in 2020.

The market in North America is expected to hold the second position in the market backed by the increasing demand for plant-based nutritional products and the growing demand for functional food in countries such as the U.S. between 2021 and 2028.

COMPETITIVE LANDSCAPE:

Merger and Acquisition between Major Companies to Brighten their Market Prospects

The global market comprises small, medium, and large companies that are striving to maintain a stronghold. The large companies are focusing to expand their nutraceuticals portfolio by acquiring other small companies. Moreover, other key players are adopting strategies such as facility expansion, partnership, and collaboration to gain a competitive edge over their rivals that will favor the market growth in the forthcoming years.

Key Industry Development:

September 2020 - Nuliv Science introduced a new compound, Senactiv that helps to promote muscle energy and regeneration. The company further reports that the new sports product is manufactured taking into consideration the surging demand for dietary supplements among consumers.

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Dairy Alternatives Market to Hit $53.97 Billion by 2028

The global dairy alternatives market size is expected to experience considerable growth by reaching USD 53.97 billion by 2028 while exhibiting a CAGR of 13.30% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled, "Dairy Alternatives Market, 2021-2028." The report further mentions that the market stood at USD 19.66 billion in 2020. The growth is owing to the emerging veganism trend and the rising inclination of consumers towards a plant-based diet. According to an environmental view, the dairy and meat sectors are the major contributors to the emission of greenhouse gases. The awareness regarding a sustainable environment has resulted in a major switch among people regarding their diet. For example, according to a survey conducted by Food Standards Agency (FSA), there are about 720,000 vegans in the U.K, which is around 1.2% of the country's total population. Whereas in India, only 1 % of Indians strictly follow veganism, therefore the total population of vegans in India is around 5 million.

British Population Adopted Veganism during COVID-19 Pandemic

The rising trend of switching to dairy alternatives was further accelerated during the outbreak of COVID-19. People were forced to stay indoors as the government imposed stringent restrictions regarding social distancing and even announced lockdowns. This resulted in people making healthy living and food choices. Many people switched to vegan and vegetarian diets during the COVID-19 outbreak. For instance, according to an article published by IFT in June 2020, 25% of the British population aged between 21-30 years stated that the COVID-19 pandemic has turned vegan diets to be more tempting. Around 37% of the British population responded that the COVID-19 outbreak has encouraged them to add more nutrients and supplements to their diet that support the immune system. Therefore, this is anticipated to boost this market even during the pandemic.

List of Key Players Covered in the Dairy Alternatives Market are:

Danone S.A. (Paris, France)
Archer-Daniels-Midland Company (Illinois, United States)
Blue Diamond Growers (California, United States)
SunOpta, Inc. (Brampton, Canada)
Vitasoy International Holdings Ltd (Tuen Mun, Hong Kong)
Daiya Food, Inc. (Burnaby, Canada)
Goya Foods, Inc. (New York, United States)
Living Harvest Foods, Inc. (Maharashtra, Pune)
Organic Valley (Wisconsin, United States)
Eden Foods, Inc. (Michigan, United States)
Segmentation

Based on the source, the market is divided into soy, almond, coconut, rice, and oats. By distribution channel, the market is categorized into supermarkets or hypermarkets, convenience stores and online retail, among others. In terms of region, it is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.

On the basis of product type, the market is further classified into non-dairy milk, butter, cheeses, yogurts, and ice-creams. Among these, the non-dairy milk segment dominated the market by earning the largest market share in 2020.

Report Coverage

The report presents a holistic study of the market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions, or driving factors is also mentioned in the report. Step by step, a thorough regional analysis is offered. The COVID-19 impacts have been added to help investors and business owners understand the threats better. The top players in the market are identified, and their strategies to bolster the market growth are shared in the report.

Drivers and Restraints

Gained Consciousness Regarding Environmental Issues to Drive Market Growth

The lactose intolerant population is growing globally, and therefore the market is propelling on this basis. Besides the intolerant part, the perception among people that lactose-free items are better for human health is driving the demand for dairy alternatives. For example, according to the National Institutes of Health, around 68% of the total world population has inherited lactose mal-absorption. Furthermore, 70%-100% of East Asian adults are lactose intolerant, and most of this condition is found among adults overall. Additionally, the production of certain dairy products has substantial environmental bearings, which lead to harmful results such as soil impurity, air pollution, water infiltration, and extensive damage to biodiversity. This is anticipated to boost the dairy alternatives market growth in the foreseeable future.

Regional Insights

Asia Pacific to Ace the Market Backed by Rising Lactose-Intolerant Cases

The dairy alternatives market share in the Asia Pacific region was held at USD 10.13 billion in 2020. The market is primarily driven by the maximum reported cases regarding lactose intolerance. Moreover, the rising awareness among people for making the right food choices and healthy lifestyle choices has resulted in a major shift from dairy to non-dairy milk-based items. As several nations in the Asia Pacific region are yet developing, these dairy alternatives are cost-effective for daily utilization in several households.

North America holds the second largest market share globally. The people in this region are well informed about the negative traits of using dairy products and are aware of environmental depletion. Moreover, people are sensitive to animal cruelty and therefore are shifting towards veganism rapidly. However, only 1 million North American people, i.e., 0.5% of the total population, follow a purely vegan-based lifestyle.

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Dairy Alternatives Market Analysis By Future Demand, Top Players, Size, Share, Opportunities, Revenue and Growth Rate Through 2027

The global dairy alternatives market size is expected to experience considerable growth by reaching USD 53.97 billion by 2028 while exhibiting a CAGR of 13.30% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled, "Dairy Alternatives Market, 2021-2028." The report further mentions that the market stood at USD 19.66 billion in 2020. The growth is owing to the emerging veganism trend and the rising inclination of consumers towards a plant-based diet. According to an environmental view, the dairy and meat sectors are the major contributors to the emission of greenhouse gases. The awareness regarding a sustainable environment has resulted in a major switch among people regarding their diet. For example, according to a survey conducted by Food Standards Agency (FSA), there are about 720,000 vegans in the U.K, which is around 1.2% of the country's total population. Whereas in India, only 1 % of Indians strictly follow veganism, therefore the total population of vegans in India is around 5 million. 

British Population Adopted Veganism during COVID-19 Pandemic

The rising trend of switching to dairy alternatives was further accelerated during the outbreak of COVID-19. People were forced to stay indoors as the government imposed stringent restrictions regarding social distancing and even announced lockdowns. This resulted in people making healthy living and food choices. Many people switched to vegan and vegetarian diets during the COVID-19 outbreak. For instance, according to an article published by IFT in June 2020, 25% of the British population aged between 21-30 years stated that the COVID-19 pandemic has turned vegan diets to be more tempting. Around 37% of the British population responded that the COVID-19 outbreak has encouraged them to add more nutrients and supplements to their diet that support the immune system. Therefore, this is anticipated to boost this market even during the pandemic.

Segmentation

Based on the source, the market is divided into soy, almond, coconut, rice, and oats. By distribution channel, the market is categorized into supermarkets or hypermarkets, convenience stores and online retail, among others. In terms of region, it is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.

On the basis of product type, the market is further classified into non-dairy milk, butter, cheeses, yogurts, and ice-creams. Among these, the non-dairy milk segment dominated the market by earning the largest market share in 2020.

Report Coverage

The report presents a holistic study of the market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions, or driving factors is also mentioned in the report. Step by step, a thorough regional analysis is offered. The COVID-19 impacts have been added to help investors and business owners understand the threats better. The top players in the market are identified, and their strategies to bolster the market growth are shared in the report.

Drivers and Restraints

Gained Consciousness Regarding Environmental Issues to Drive Market Growth

The lactose intolerant population is growing globally, and therefore the market is propelling on this basis. Besides the intolerant part, the perception among people that lactose-free items are better for human health is driving the demand for dairy alternatives. For example, according to the National Institutes of Health, around 68% of the total world population has inherited lactose mal-absorption. Furthermore, 70%-100% of East Asian adults are lactose intolerant, and most of this condition is found among adults overall.  Additionally, the production of certain dairy products has substantial environmental bearings, which lead to harmful results such as soil impurity, air pollution, water infiltration, and extensive damage to biodiversity. This is anticipated to boost the dairy alternatives market growth in the foreseeable future.

Regional Insights

Asia Pacific to Ace the Market Backed by Rising Lactose-Intolerant Cases

The dairy alternatives market share in the Asia Pacific region was held at USD 10.13 billion in 2020. The market is primarily driven by the maximum reported cases regarding lactose intolerance. Moreover, the rising awareness among people for making the right food choices and healthy lifestyle choices has resulted in a major shift from dairy to non-dairy milk-based items. As several nations in the Asia Pacific region are yet developing, these dairy alternatives are cost-effective for daily utilization in several households.

North America holds the second largest market share globally. The people in this region are well informed about the negative traits of using dairy products and are aware of environmental depletion. Moreover, people are sensitive to animal cruelty and therefore are shifting towards veganism rapidly. However, only 1 million North American people, i.e., 0.5% of the total population, follow a purely vegan-based lifestyle

.

Competitive Landscape

New Product Launches by Leading Players to Spur the Market Growth

Key players are adopting numerous strategies to ensconce their position in the market. One such strategy is to launch products featuring the latest trends around the market. For example, in September 2020, Nestlé launched Nesquik, a new dairy alternative and plant-based drink in Europe. The drink obtains protein from peas and oats and is an excellent option for diabetic people as it contains lower sugar levels. The product is estimated to be launched initially in Spain, Hungary, and Portugal in the European region.

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Meat Substitutes Market Growth, Analysis, Size, Trends, Demands, Key Players, and Potential of Industry Till 2027

The global meat substitutes market is set to gain traction from the surging shift of people towards vegan diets, especially in North America and Western Europe. The Vegan Society, for instance, declared that if the world went vegan, it could reduce greenhouse gas emissions by two-thirds, save around 8 million human lives, and save healthcare expenditure by 2050. This information is given by Fortune Business Insights™ in a report, titled, “Meat Substitutes Market, 2021 – 2028.” As per the report, the market size was USD 4.98 billion in 2020. It is projected to grow from USD 5.37 billion in 2021 to USD 10.80 billion by 2028, exhibiting a CAGR of 10.48% during the forecast period. 

Unavailability of Fresh Meat amid COVID-19 Pandemic to Bolster Growth of Market

The COVID-19 pandemic has accelerated the demand for meat substitutes across the globe because of disruptions in the supply chain, the absence of employees in meat-processing plants, and the unavailability of fresh meat. At the same time, several types of research conducted amid the pandemic, such as one from the Food and Agriculture Organization, stated that multiple diseases are directly associated with animal-based food items.

Segments:

Soy-based Ingredients Segment Held 63.65% Share in 2020: Fortune Business Insights™

Based on the source, the soy-based ingredients segment generated 63.65% in terms of the meat substitutes market share in 2020. It is expected to remain dominant in the near future because of the presence of essential amino acids and high-quality protein. Also, the emergence of soy protein isolates that have a close resemblance with the organoleptic properties of meat and animal products would propel the segment’s growth.

Report Coverage

The research report offers a comprehensive analysis of organizations that can affect the outlook throughout the forthcoming years. Besides, it provides an authentic assessment by highlighting information on several aspects that may include growth drivers, opportunities, trends, and hindrances. It also represents the size of the meat analogs industry from a global perspective by analyzing qualitative insights and historical data.

Drivers & Restraints

Increasing Demand for Allergen-free Alternatives to Propel Growth

Plant-based meat made from peas and soy has high protein content. Hence, people are choosing them over chicken, beef, and pork. They also have a meat-like texture. Besides, the rising vegetarian populations and surging trend of health and fitness worldwide would propel the market in the upcoming years. People are nowadays looking for allergen-free alternatives, especially chickpeas because of rising health consciousness. Therefore, various companies are striving to come up with products infused with pea protein. However, meat substitutes are very expensive and it may hamper growth.

Regional Insights

Presence of Flexitarian Consumers to Help Europe Grow in Future

Geographically, Europe procured USD 1.62 billion in terms of revenue in 2020. The surging ethical focus of consumers, high demand from millenials, and the presence of flexitarian consumers would drive growth in this region. Asia Pacific, on the other hand, is expected to be the fastest-growing region on account of the high popularity of unique diet patterns and demand for soy-based meat analogs.

Competitive Landscape

Key Players Focus on Introducing Novel Products to Meet Consumers’ Demand

The global market for meat substitutes houses a large number of companies that are currently striving to keep up with the high consumer demand. To do so, they are launching innovative products or are collaborating with government agencies for setting up R&D centers.

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Functional Foods and Beverages Market to Reach $529.66 Billion by 2028

The worldwide functional foods and beverages market size is projected to reach USD 529.66 billion by 2028, exhibiting a CAGR of 9.50% during the forecast period. Increasing malnutrition worldwide will be the primary growth driver for this market in the near future.
According to the World Health Organization (WHO), close to 462 million people are underweight and 52 million children under the age of 5 are suffering from wasting.
Moreover, roughly 45% of deaths among children below 5 years of age occur due to under-nutrition. As a result, governments have spurred action in both developed and developing countries. For instance, in 2019, the UK government made it mandatory to fortify flour with folic acid to prevent the occurrence of congenital disabilities in children. Similarly, in July 2019, the Indian government announced the distribution of rice fortified with folic acid, Vitamin B12, and iron through the Public Distribution System (PDS). The market for functional foods and beverages, thus, stands to gain from these developments.   
Competitive Landscape
Development of Exciting Products to Stimulate Intense Competition
One of the leading functional food and beverages market trends is the increasing focus of key players on the developing and launching new and exciting products in the market. Not only do these frequent launches help companies solidify their position in the market, but they also periodically realign the overall dynamics of market competition.

List of Key Players Covered in the Functional Food and Beverages Market Report:

- The Coca-Cola Company
- Celsius Holdings, Inc.
- PepsiCo, Inc.
- Glanbia plc
- Nestle S.A.
- Arla Foods amba
- Hearthside Food Solutions LLC
- Tyson Foods, Inc.
- General Mills, Inc.
- Danone S.A.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries.
However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreaks across industries to help you prepare for the future.

Market Driver

High Nutritional Value of Functional Foods to Spike Uptake

The popularity of fortified food and beverages has been steadily climbing in recent years, mainly due to the hectic and unhealthy lifestyles people are leading in urban areas. As a result, there is a growing demand for nutrition-rich food and beverage items fueled by rising health and wellness concerns. Functional foods have emerged as an attractive option for many consumers, given their wide-ranging and long-term benefits.

For example, functional foods and beverages fortified with omega-3 fatty acids can boost brain function, secure heart health, and reduce inflammation. The benefits of functional foods are not limited to just chronic and lifestyle-based disorders; they have proven efficacy in tackling the effects of under-nourishment too. For example, the National Institutes of Health reported that the introduction of wheat flour fortified with iron in Jordan led to 50% reduction in the incidence of iron deficiency anemia among children.

Regional Analysis

Evolving Lifestyles in Asia-Pacific to Aid the Region Register Impressive CAGR
Asia-Pacific is slated to dominate the functional food and beverages market share and grow at a CAGR of 9.20% during the forecast period. The central reason for this rise is the rapidly changing lifestyles of people that are increasing the prevalence of chronic conditions in the region. An example of this is the increasing consumption of fast or “junk” food.

Thus, there is a surging demand for nutritional foods as people are getting more health-conscious, especially in India. In addition to foodstuffs, there is also a high demand for functional hydration, particularly in tropical countries where water loss from the body is high. After Asia-Pacific, North America is expected to be the second-largest region for this market, anticipated to register a CAGR of 7.06% in the forthcoming years.

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Instant Noodles Market Growth, Size, Demand, Trends, Insights and Forecast 2027

The global instant noodles market share is expected to reach USD 72.69 billion by 2027 while exhibiting a CAGR of 5.9% between 2020 and 2027. This is attributable to the increasing middle-class population that is propelling the demand for affordable noodles products globally. This information is published by Fortune Business Insights, in its latest report, titled, “Instant Noodles Market Size, Share & COVID-19 Impact Analysis, By Type (Chicken, Vegetable, Sea Food, and Others), Raw Material (Oats, Rice, Wheat, and Others), Distribution Channel (Supermarkets/ Hypermarkets, Specialty Stores, Convenience Stores, and Online Retail), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 44.11 billion in 2019 and is projected to showcase significant growth during the forecast period.

Demand for Instant Noodles Sky-rockets amid COVID-19

The lockdown imposed by the government agencies globally to contain the widespread effect of the novel coronavirus has impacted several economies. With people confined to their home spaces and maintain social distancing, the demand for packaged food products is experiencing a significant growth. This is expected to bode well for the growth of the market in the near future.

Instant noodles are generally made using wheat flour, palm oil, and salt, along with seasoning flavors. They are usually dried and precooked block that are soaked and cooked in boiling water before consuming using seasonings and condiments. They can be consumed in several types that include ready-to-serve soups. Additionally, they are relished globally by people irrespective of age groups.

What does the Report Include?

The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.

DRIVING FACTORS

Increasing Middle-Class Population to Aid Growth

According to the Global Economy and Development Program at the Brookings Institution, there were about 3.2 billion people in the middle-class bracket in 2016, 500 million more than the previous year, and it is expected to increase exponentially by the year 2020 globally. The rising middle-class population is propelling the these noodles manufacturers to produce affordable food products, while offering different flavors to cater to the consumer demand. This is expected to boost the growth of the global instant noodles market during the forecast period.

SEGMENTATION

Chicken Segment Held a Market Share of 28.71% in China Owing to Increasing Focus on Innovation by Major Companies

The chicken segment, based on type, held a market share of 28.71% in China and is likely to dominate in the forthcoming years. The dominance is attributable to the increasing focus on innovation for launching novel instant noodles and the increasing investment by major companies to leverage opportunities in the country.

REGIONAL INSIGHTS

Increasing Demand for Convenience Food Products in Asia-Pacific to Promote Growth

Geographically, the global instant noodles market is segmented into Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. Among all the regions, Asia-Pacific is expected to experience exponential growth in the forthcoming years. The growth is attributable to the increasing demand for convenience food products by the working population in countries such as China and India. The market in Europe is anticipated to showcase a significant growth owing to the increasing demand for packaged and processed food products such as these noodles and the availability of various ethnic flavors in the region between 2020 and 2027.

COMPETITIVE LANDSCAPE

Increasing Investments by Major Companies to Consolidate Their Market Positions

The global instant noodles market is fragmented by the presence of major companies such as Nissin Food Holdings that are focusing on introducing new instant noodles products to strengthen their positions. Moreover, the companies are focusing on investing in developing novel products to cater to the increasing consumer demand globally. The other key players are adopting strategies such as merger and acquisition, partnership, and collaboration that are expected to favor the market growth in the forthcoming years.

Industry Development:

June 2020 – Nissin Foods Products, a Japan-based consumer goods provider, introduced its new crab curry-flavored noodles amidst the increasing demand for convenient food products. The company aims to leverage the opportunities presented in the aftermath of the COVID-19 pandemic that is propelling people to consume processed food at home rather than outside.
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Agritourism Market Size, Demand, Growth Analysis, Share, Revenue and Forecast 2027

The global agritourism market is anticipated to exhibit astonishing growth in the near future because of the rising government initiatives to refine agriculture economy through agritourism. This information is given by Fortune Business Insights™, in a recently published report, titled, “Agritourism Market Size, Share & COVID-19 Impact Analysis, By Type (Direct-market, Education & Experience, and Event & Recreation), and Regional Forecast, 2020 – 2027.” The report further mentions that the market size was USD 69.24 billion in 2019 and is projected to reach USD 117.37 billion by 2027, exhibiting a CAGR of 7.42% during the forecast period (2020-2027).

The emergence of the COVID-19 pandemic has affected almost every industry severely. But, due to relaxations in the lockdown measures, numerous companies have begun their production processes. However, they are maintaining social distancing and low workforce to prevent the spread of this deadly infection. Our specially curated reports would help you in better understanding the scenario of various markets. This way, you will be able to adopt the most appropriate strategy to gain success in business.

Drivers & Restraints-

Transformation of Properties into Agritourism Destinations by Farmers to Aid Growth

Tourism and recreational activities help in generating high revenue for the agricultural farms worldwide. Hence, nowadays, various farm owners are shifting towards transforming their properties into agriculture tourism destinations at a fast pace. This is a major agritourism market growth driver. The Census of Agriculture data, for instance, declared that in the U.S., between the period of 2002 and 2017, these revenues tripled from farms. This proves that investments in the agro-tourism business are surging rapidly as the farmers are suffering huge losses on account of low productivity of crops.

How will COVID-19 Pandemic Impact the Global Market?

The present outbreak of the COVID-19 pandemic has severely impacted the tourism sector.
Lockdown measures, as well as the complete halt in transportation in many countries across the globe have majorly affected this industry.
The market statistics is unpredictable owing to the uncertainty associated with this situation.
But, the growth is likely to revive in the near future stoked by the improvements in this situation.

Segments-

Direct-market Agritourism Segment to Gain from Rising Sales of Farm Products

In terms of type, the direct-market segment generated 36.06% in terms of agritourism market share. This growth is attributable to the rising government investments to enhance the agricultural economy. The agencies are aiming to surge sales of farm products to achieve their goals. Many tourists admiring the rural lifestyle are seeking to purchase authentic farm products and services while visiting the farms. It would further help in augmenting the economy of farmers. Since the past few years, several farm owners have been offering a wide range of vegetables, fruits, and other farm-grown products to tourists. This factor would also contribute to the growth of this segment in the coming years.

Regional Analysis-

Europe to Remain at the Forefront Backed by Adoption of Unique Promotional Strategies

Geographically, Europe held USD 32.59 billion in terms of revenue in 2019 and is set to dominate the market throughout the forthcoming years. This growth is mainly attributable to the increasing interest of international and domestic tourists in on-farm agritourism for educational and recreational purposes. In addition to that, the immense governmental support, amplification of product ranges sold at the farms, and state-of-the-art strategies for promoting the sales of farm products and services would contribute to the market growth in this region.

Gain More Insights into this Industry with Impact of COVID-19 Analysis:

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