The global   aquafeed market   was valued at USD 67.50 billion in 2024. It is projected to increase from USD 71.28 billion in 2025 to USD 112.27 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.71% during the forecast period of 2025 to 2032. In 2024, Asia Pacific held the largest share of the aquafeed market at 73.65%. The aquafeed market in the United States is also expected to expand significantly, reaching a projected value of USD 2.85 billion by 2032, supported by the presence of leading companies such as Cargill Incorporated, Archer Daniels Midland Company, and Alltech Inc.

Seafood consumption has seen consistent growth over the years and is forecasted to accelerate further. According to the U.S. Food and Agriculture Organization, global per capita seafood consumption is expected to exceed 20 kg by 2030. This surge in seafood consumption is a primary driver behind the increasing demand for aquafeed. The market is also gaining momentum due to the growing interest in aquafeed enriched with functional ingredients. Additionally, the rise in international seafood trade, driven by greater fish consumption, is expected to fuel market expansion. Various governmental programs and initiatives are encouraging farmers to adopt high-quality feed, further contributing to market development.

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Segmentation:

Based on type, the market is segmented into mollusks, crustaceans, fish, and others. By ingredient, it includes additives, fish oil, fishmeal, soybean, corn, and others. In terms of form, the market is divided into dry and wet. Regionally, the market spans South America, North America, Europe, Asia Pacific, and the Middle East & Africa.

Report Coverage:

• Utilizes Porter’s Five Forces and SWOT analysis for precise market insights
• Assesses the impact of the COVID-19 pandemic
• Includes profiles of key players
• Highlights prevailing market trends
• Provides details on market segmentation by form, type, ingredient, and more

Drivers & Restraints:

Rising Global Seafood Trade to Drive Market Expansion

The growing interest in organic fish farming, though still developing, presents promising opportunities for market growth due to increasing consumer demand. Rising needs for animal-based proteins in Western countries and the expanding global seafood trade are anticipated to significantly support market growth. As seafood consumption rises, so does consumer spending on related products such as fish oils, meals, and silage, boosting aquaculture production and, in turn, the demand for aquafeed.

Investments in research and development by major players to innovate and create new products are also likely to stimulate market growth. However, market expansion may be hindered by the volatility of raw material prices.

Regional Insights:

Asia Pacific Leads Due to Surging Fish Production

Asia Pacific is expected to maintain its dominant position in the global aquafeed market, supported by rapid development in recent years. China and India collectively account for over half of the region’s sales. In particular, rising fish production in China and growing business expansions across both countries are expected to drive regional growth.

Europe is projected to grow steadily, fueled by increased aquaculture production and heightened interest in salmon farming.

In North America, the market is likely to experience substantial growth due to the presence of major players like Archer Daniels Midland and Cargill Incorporated, along with strong aquaculture export profits supporting regional demand.

Competitive Landscape:

Leading Companies Focus on Expanding Product Lines and Distribution Networks

Key industry players are prioritizing the expansion of their product portfolios and distribution reach to strengthen their market presence. Strategies such as mergers and acquisitions, technological advancements, and new product developments are commonly adopted. For example, in January 2020, BioMar A/S enhanced its production capabilities with the opening of a new aquafeed facility in Wesley Vale, Tasmania, capable of producing 110,000 tonnes of aquafeed annually.

Key Players Featured in the Report:

• Cargill Incorporated (Minnesota, U.S.)
• Archer Daniels Midland Company (Illinois, U.S.)
• Alltech Inc. (U.S.)
• Purina Animal Nutrition (Missouri, U.S.)
• Ridley Corp Ltd (Australia)
• Nutreco N.V. (Amersfoort, Netherlands)
• Aller Aqua A/S (Christiansfeld, Denmark)
• BioMar A/S (Denmark)
• Dibaq Aquaculture (Spain)
• Beneo GmbH (Germany)

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Industry Developments:

• May 2021:   BP Milling, a company based in the U.K., introduced a new pelleted fish attractant blend named SmartMix. The product contains essential minerals, vitamins, and immune-enhancing amino acids.

The global   protein supplements market   was valued at USD 28.15 billion in 2024. It is expected to grow from USD 30.40 billion in 2025 to USD 55.32 billion by 2032, exhibiting a CAGR of 8.93% during the period from 2025 to 2032. The U.S. protein supplements market is projected to see considerable growth, reaching a value of USD 22.58 billion by 2032. In 2024, North America led the protein supplements market with a share of 37.09%.

An increase in purchasing power parity (PPP) is anticipated to accelerate the demand for ready-to-drink (RTD) products in the near future. Additionally, the growing popularity of dried fruit snacks, influenced by changing lifestyles, is expected to support segment expansion over the next seven years. Moreover, rising demand for protein bars, RTDs, and powders among professional athletes, fitness enthusiasts, and casual users is likely to stimulate market growth. The strong presence of brands such as Optimum Nutrition, Inc., Quest Nutrition, Bio-Engineered Supplements and Nutrition, Inc. (BSN), NOW Foods, United States Nutrition, Inc., MusclePharm, MuscleTech, and Met-Rx Substrate Technology, Inc. is also expected to contribute to market expansion.

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Segments:

Growing Demand for Animal-Based Protein Supplements Supported by Health Benefits and Scientific Research

By source, the market is categorized into animal-based, plant-based, and others. Demand for animal-based protein supplements is expected to rise significantly, backed by research highlighting their health benefits. For example, whey protein supports immune function, enhances nutritional status, and raises glutathione (GSH) levels in cancer patients undergoing chemotherapy.

Protein Powder Market Growth Fueled by Strong Online and Distribution Presence

By product, the market is segmented into protein powder, RTD, protein bars, and others. In 2022, protein powder held the largest share at 55.86%, supported by strong online sales performance and an extensive distribution network. Key players like Glanbia, Nature's Bounty Co., and Iovate Health Sciences International Inc. are projected to further drive growth in this segment.

Private Label Investments by Hypermarkets and Supermarkets Encourage Sales of Protein Products

By distribution channel, the market is segmented into supermarkets and hypermarkets, pharmacies/drug stores, online retail, and others. In 2022, supermarkets and hypermarkets emerged as the top sales channels. Major U.S. retailers such as Walmart are investing in private label offerings to promote protein product consumption.

Geographically, the market is assessed across North America, Europe, Asia Pacific, South America, and the Middle East and Africa.

Report Coverage:

The report includes:

• Key drivers, restraints, opportunities, and market challenges
• In-depth analysis of regional market developments
• Profiles of major industry players
• Strategic initiatives undertaken by key players
• Recent industry developments, including product innovations, partnerships, mergers, and acquisitions

Drivers & Restraints:

Awareness Campaigns and Advanced Technologies Fuel Market Expansion

Numerous campaigns by governments, NGOs, and businesses aim to educate consumers on the benefits of protein supplements. Technologies like micro-encapsulation and nano-encapsulation—known for controlled release and minimal ingredient use—are gaining popularity. However, high manufacturing costs and raw material price volatility could pose challenges to market growth.

Regional Insights:

North America Leads Due to High Protein Snack Consumption

North America holds a leading position in the market, driven by growing health consciousness across the U.S., Canada, and Mexico. Increased consumption of protein bars and cookies among millennials is projected to boost the region's market share.

In Europe, the market is expected to expand due to rising interest in functional food products.

Competitive Landscape:

Key Players Expand Production Capacity to Meet Global Demand

Notable companies include Muscle Pharm, RSP Nutrition, Glanbia Plc, and BRF. With only a few major players operating globally and regionally, the market remains consolidated. These companies are prioritizing the expansion of production facilities to meet increasing global demand.

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Key Industry Development:

In August 2021, Glanbia Nutritionals introduced KetoSure MCT, a new keto-friendly powder ingredient that combines MCT oil with whey protein. This innovation is designed to help manufacturers create sports nutrition and weight management products tailored to the keto market.

List of Key Players Featured in the Report:

• Glanbia Plc (Ireland)
• MusclePharm (U.S.)
• Abbott (U.S.)
• CytoSport, Inc. (U.S.)
• Quest Nutrition (U.S.)
• The Bountiful Company (U.S.)
• The Himalaya Drug Company (India)
• NOW Foods (U.S.)
• RSP Nutrition (U.S.)
• BPI Sports LLC. (U.S.)

The global   canned food market   was valued at USD 91.90 billion in 2019 and is anticipated to reach USD 111.13 billion by 2032, reflecting a CAGR of 1.57% over the forecast period, according to our current report analysis. In 2019, North America led the canned food market, holding a 39.1% share.

The market's growth is primarily fueled by increasing consumption of packaged food and beverage items that offer convenience. These products undergo processes like peeling, chopping, and cooking before being sealed in airtight tin or aluminum cans. With the growing pace of life and a rising working population, the demand for convenient food options has surged, thereby driving market expansion.

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Rising Mergers Among Companies to Directly Influence Market Growth

The report highlights several factors that have driven market growth in recent years. Chief among them is the growing number of mergers, acquisitions, and strategic collaborations between companies. Leading industry players are joining forces to optimize resource usage and expand their customer base. For instance, in February 2020, B&G Foods announced the completion of its acquisition of Farmwise LLC, a prominent global canned vegetable producer. This acquisition is expected to enhance B&G Foods' offerings in the plant-based protein segment and strengthen its international presence. The integration of Farmwise LLC is anticipated to positively impact the canned food market over the forecast period.

CANNED FOOD MARKET SEGMENTATION ANALYSIS

By Type Analysis

Canned seafood represents the largest segment within the canned food industry due to its numerous health benefits. Derived from aquatic sources such as fish, crabs, clams, and other seafood, it is a rich source of protein and essential nutrients. Many food service providers and restaurant chains are incorporating canned seafood to deliver authentic culinary experiences. Furthermore, younger consumers are increasingly drawn to exotic fish varieties, driven by evolving taste preferences. The widespread use of canned seafood in dishes like sushi, fish salads, and sandwiches is attributed to its distinct flavor profile. In response to rising demand, manufacturers are scaling up production to meet consumer needs.

REGIONAL INSIGHTS

North America to Lead in CAGR; Fast-paced Lifestyle to Drive Market Expansion

The report evaluates current market patterns across five primary regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of these, North America is projected to remain the leading market in the foreseeable future. The prevalence of a fast-paced lifestyle and a growing inclination toward canned food, especially in the United States, are major contributing factors. The strong presence of large-scale retailers and increasing demand for convenience food will further support growth. In 2019, North America’s market stood at USD 35.93 billion and is expected to continue expanding. Europe is poised to become the second-largest market, bolstered by a surge in canned food consumption among millennials across various countries in the region.

Companies Profiled in the Report:

• The Kraft Heinz Company (United States)
• Bolton Group S.r.l. (Italy)
• Campbell Soup Company (United States)
• Conagra Brands, Inc. (United States)
• Nestlé (Switzerland)
• Danish Crown AmbA (Denmark)
• Del Monte Foods, Inc. (United States)
• JBS USA Holdings, Inc. (United States)
• Ayam Brand (Singapore)
• Holyland Marketing Private Limited (India)

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Industry Developments:

April 2020:   Baxters Food Group Limited introduced a new line of vegan canned soups in three varieties—Jackfruit, Three Bean & Chipotle; Sri Lankan Sweet Potato; and Butternut Squash & Lentil Dhansak.

The global   biostimulants market   was valued at USD 4.03 billion in 2024. It is anticipated to expand from USD 4.47 billion in 2025 to USD 9.75 billion by 2032, registering a compound annual growth rate (CAGR) of 11.80% over the forecast period. In 2024, Europe led the biostimulants market, accounting for a 38.95% share.

In the U.S., the biostimulants market is projected to witness significant growth, with an estimated valuation of USD 1.46 billion by 2032. This growth is fueled by increased R&D spending by key market players and advancements in agricultural technologies.

Biostimulants refer to any substances or microorganisms applied to plants to enhance crop quality, nutrient efficiency, and tolerance to abiotic stress. The growing popularity of organic farming, rising environmental and climate-related concerns, and a broader global movement toward sustainability are key factors driving the market's expansion.

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Segments

Enhancement of Biochemical and Physiological Traits in Crops to Support Non-Microbial Segment Growth

By source, the market is segmented into microbial and non-microbial. The non-microbial category leads and is expected to show robust growth throughout the forecast period, primarily due to its impact on improving crops' biochemical and physiological characteristics.

Global Increase in Seaweed Cultivation to Propel Seaweed Extracts Segment Growth

Based on active ingredients, the market is segmented into seaweed extracts, humic substances, vitamins & amino acids, microbial amendments, and others. The seaweed extracts segment dominates due to the rising global cultivation of seaweed.

High Efficiency of Foliar Sprays in Enhancing Plant Health to Drive Foliar Application Segment Growth

In terms of application, the market is classified into foliar application, soil treatment, and seed treatment. The foliar application segment holds the largest market share due to its proven effectiveness in enhancing plant health.

Rising Greenhouse Vegetable Production to Support Row Crops Segment Growth

By crop type, the market is divided into row crops, fruits and vegetables, turf & ornamentals, and others. Row crops are expected to dominate during the forecast period, driven by increased adoption of greenhouse vegetable farming and a growing demand for high-value crops.

Geographically, the market is assessed across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

The report includes:

• Key growth drivers, restraints, opportunities, and challenges affecting the market
• Detailed analysis of regional trends
• A list of major industry players
• Core strategies adopted by leading market participants
• Recent industry developments, including new product launches, partnerships, mergers, and acquisitions

Drivers & Restraints

Growing Awareness of the Environmental Harm Caused by Chemical Fertilizers to Accelerate Market Growth

Rising awareness about the adverse environmental effects of synthetic fertilizers and chemical plant protection products is a major contributor to the growth of the biostimulants market. Farmers are increasingly opting for natural and eco-friendly alternatives, leading to higher adoption of biostimulants, which are more targeted and environmentally sustainable.

However, a lack of clear regulations concerning the commercialization of biostimulants could act as a barrier to market growth.

Regional Insights

Establishment of Government Organizations to Support Market Growth in Europe

Europe recorded USD 1.43 billion in market value in 2023 and held the largest share in the biostimulants sector. Growth in this region is attributed to the establishment of multiple government bodies such as ACI’s Biostimulants Associations and the European Biostimulants Industry Council, which are fostering market development.

Asia Pacific is projected to experience notable growth throughout the forecast period, largely due to increased adoption of premium agricultural products by regional manufacturers, thereby supporting market expansion.

Competitive Landscape

Heightened Focus on Product Innovation by Key Players to Foster Market Growth

The market is highly competitive, with the presence of prominent players focusing on innovation and launching new products. These efforts aim to meet farmers' needs for improved crop resilience and nutrient uptake efficiency, driving further market expansion.

List of Key Players Profiled in the Report:

• Bayer AG (Germany)
• Syngenta AG (Switzerland)
• UPL Limited (India)
• Gowan Group (U.S.)
• BASF SE (Germany)
• Marrone Bio Innovations (U.S.)
• SEIPASA S.A. (Spain)
• I. Industries (India)
• Novozymes A/S (Denmark)
• Koppert Biological Systems (Netherlands)

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Key Industry Development

In December 2023, Rovensa Group, a leader in agricultural inputs, acquired Agro-K, a prominent U.S.-based family-owned biostimulant producer. This acquisition enhances Rovensa’s biostimulant offerings in the U.S. market and provides a robust portfolio of complementary solutions.

The global   organic foods market   was valued at USD 177.08 billion in 2023 and is forecasted to grow from USD 199.35 billion in 2024 to USD 529.64 billion by 2032, registering a CAGR of 12.99% throughout the forecast period. Europe held the largest share of the organic foods market in 2023, accounting for 44.17%. Additionally, the U.S. organic foods market is expected to see significant expansion, reaching an estimated USD 185.47 billion by 2032, fueled by a highly health-conscious population and a rise in the launch of organic food products.

Organic foods refer to food and beverage items—such as fruits, vegetables, dairy products, and grains—produced in accordance with organic farming standards. The market’s growth is primarily driven by increasing health awareness among consumers and government efforts to promote organic food production. As global demand for organic foods rises, companies are introducing a variety of new offerings in the packaged food segment to strengthen their market presence. Rising disposable incomes, improving living standards, and rapid urbanization are further contributing to the market's growth. The COVID-19 pandemic significantly boosted global demand for organic foods, as consumers became increasingly aware of the importance of nutrition and health, which served as a key growth factor during the crisis.

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Segments

Fruits & Vegetables Segment to Dominate Due to High Nutritional Value

By category, the market is segmented into fruits & vegetables, dairy, meat, fish, & poultry, frozen & processed foods, cereals & grains, beverages, and others. The fruits & vegetables segment is projected to hold the largest share due to their high nutritional content and abundance of vitamins, minerals, fibers, and antioxidants.

Unprocessed Organic Foods to Lead Due to Perceived Freshness and Convenience

In terms of product type, the market is categorized into processed and unprocessed. Unprocessed organic foods are expected to command a major share, owing to their fresh-like appearance and consumer preference for convenience.

Supermarkets/Hypermarkets Segment to Lead Due to Broad Product Range

By distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, convenience stores, online retail stores, and others. The supermarkets/hypermarkets segment is expected to lead, as it provides a diverse array of brands and product options in one place.

Report Coverage

This report offers a comprehensive analysis of the leading segments and current market trends. It also examines the primary driving and restraining factors, as well as the effects of COVID-19 on the market. Furthermore, it covers regional market developments and strategies implemented by top industry players.

Drivers and Restraints

Advancing Agricultural Practices to Fuel Market Growth

The adoption of advanced and evolving agricultural practices, largely influenced by the availability of chemical fertilizers and pesticides, is expected to contribute to the growth of the organic foods market. Increasing environmental concerns linked to the use of hazardous chemicals in farming have amplified interest in organic alternatives. The global rise in organic farming has increased product accessibility and affordability. A growing number of product launches by industry players is also anticipated to propel market growth.

Nevertheless, high costs and limited shelf life associated with organic foods are expected to pose challenges to market expansion.

Regional Insights

Europe to Dominate Market Due to Rising Environmental and Animal Welfare Awareness

Europe is projected to lead the organic foods market due to increasing concerns over environmental impact and animal welfare, prompting greater consumption of organic fruits and vegetables. According to AgenceBio, the French Agency for the Development and Promotion of Organic Agriculture, fresh fruits and vegetables represented the second-highest organic product consumed at home in France in 2020, comprising 17% of organic consumption, following groceries at 31%.

North America is also expected to be a major market player, driven by growing health awareness and rising adoption of organic foods. Countries such as the U.S., Canada, and Mexico are witnessing increased demand. According to the Organic Trade Association (OTA), in 2021, the U.S. saw an 11% increase in dollar sales for organic baby food, followed by an 8% increase in the organic beverages category.

Competitive Landscape

Innovative Product Launches by Key Players to Shape Market Trends

Leading companies are expanding their portfolios through a range of offerings, including new product introductions and brand development, across both developed and emerging markets. The entry of new competitors with innovative products has further stimulated market growth. In May 2022, Amul announced the launch of a new organic product range, including organic whole wheat atta, moong dal, tur dal, chana dal, and basmati rice.

List of Key Players Profiled in the Report

• General Mills Inc. (U.S.)
• Danone S.A. (France)
• Dole plc. (Ireland)
• Organic Valley (U.S.)
• Organic India Pvt. Ltd. (India)
• Amy's Kitchen, Inc. (U.S.)
• Arla Foods Amba (Denmark)
• Eden Foods Inc. (U.S.)
• Hain Celestial Group, Inc. (U.S.)
• SunOpta Inc. (U.S.)

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Key Industry Development

In May 2022, Barry Callebaut, a Belgian-Swiss cocoa processor and chocolate producer, expanded its plant-based offerings by introducing a dairy-free organic chocolate line aimed at consumers in North America.

The global   methanol market   was valued at USD 31.26 billion in 2023 and is expected to increase from USD 32.70 billion in 2024 to USD 46.32 billion by 2032, reflecting a CAGR of 4.5% throughout the forecast period. Asia Pacific led the methanol market in 2023, accounting for a 63.34% share. Additionally, the U.S. methanol market is anticipated to witness significant growth, projected to reach USD 4.38 billion by 2032, fueled by rising demand for formaldehyde and acetic acid derivatives across various sectors such as chemicals, pharmaceuticals, and adhesives & sealants.

Methanol is a light, volatile, colorless, and flammable liquid with a distinctive odor resembling ethyl alcohol (ethanol). Due to its toxicity, it is commonly combined with ethyl alcohol to create denatured alcohol for industrial use. The increasing use of methanol as a feedstock for a variety of chemicals, including solvents and plastics, is expected to propel market expansion. A growing shift among end-users toward eco-friendly fuels is poised to open new growth avenues. The adaptable characteristics of methanol have led to its extensive application in addressing global demands.

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Segmentation—

Acetic Acid Segment Held 5.5% Share in 2020: Fortune Business Insights™

Based on derivatives, the market is divided into formaldehyde, acetic acid, MTBE, DME, gasoline blending, biodiesel, methanol to olefins (MTO)/methanol to propylene (MTP), solvent, and others. Among these, the MTO/MTP segment is expected to exhibit the fastest CAGR in the upcoming period, driven by strong demand for polyolefins from numerous end-use industries. The acetic acid segment accounted for a 5.5% share of the methanol market in 2020.

Report Coverage—

This research report analyzes key segments within the methyl alcohol sector, including regions, end-users, technologies, types, and applications. It details each segment’s performance and relevance based on sales volume, growth outlook, revenue share, and market demand. This analysis will support clients in accurately assessing the market size and identifying the optimal segment to support their business expansion strategies.

Drivers & Restraints—

Increasing Use as a Precursor in Plastics and Textiles to Drive Growth

The global demand for methanol is rising due to its use in the construction and automotive sectors. The chemical is commonly utilized as a precursor in insulation, adhesives, textiles, and plastic products. However, inhalation or ingestion of methanol can lead to fatal consequences, including acid buildup in the blood, blindness, or death, which could hinder market growth in the future.

Regional Insights—

Asia Pacific to Lead Due to Construction Industry Growth

In 2020, Asia Pacific generated USD 17.60 billion in revenue, making it the primary contributor to market growth, largely due to the rapid development in construction and automotive industries. In contrast, North America is likely to benefit from the increasing demand for methanol from green fuel producers. Europe is also projected to expand steadily owing to growth in the automotive sector.

Key Methyl Alcohol Manufacturers in the Global Market:

• Methanex Corporation (Canada)
• HELM AG (Germany)
• Southern Chemical Corporation (U.S.)
• SABIC (Saudi Arabia)
• Mitsubishi Gas Chemical Company, Inc. (Japan)
• Zagros Petroleum (Iran)
• PETRONAS (Malaysia)
• Mitsui & Co., Ltd. (Japan)
• Celanese Corporation (U.S.)
• BASF SE (Germany)
• Simalin Chemical Industries Pvt. Ltd. (India)
• Other Players

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Competitive Landscape—

Major Players Engage in Joint Ventures to Strengthen Market Position

The global methanol market features numerous companies, many of which are pursuing mergers, acquisitions, and joint ventures. Others are concentrating on scaling up production capacity to fulfill increasing customer demand. Below is a notable industry development:

In June 2018, Southern Chemical Corporation (SCC), Proman AG, and Helm AG launched a joint venture called Helm Proman Methanol AG to enhance methanol marketing efforts. The company is headquartered in Switzerland, with ownership stakes of 5% by SCC, 38% by Proman AG, and 57% by Helm AG.

The global   honey market   was valued at USD 8.94 billion in 2023 and is anticipated to increase from USD 9.40 billion in 2024 to USD 15.59 billion by 2032, reflecting a CAGR of 6.52% during the 2024–2032 forecast period. Additionally, the U.S. honey market is expected to expand significantly, with a projected valuation of USD 1.89 billion by 2032. This growth is attributed to the increasing number of beekeepers and the rising preference for natural sweeteners in the country. In 2023, Asia Pacific held a commanding 100% share of the honey market.

Over recent decades, sugar and artificial sweeteners have fallen out of favor due to their adverse health effects. As a result, consumer interest in sugar alternatives, especially natural sweeteners, has grown for several reasons. A primary factor is the increasing prevalence of diabetes, obesity, and high cholesterol, prompting consumers to seek healthier sugar substitutes. The easy accessibility of diverse honey products and their appealing taste in food and beverage applications further supports market expansion. Leading honey-producing countries include China, Turkey, Iran, Ukraine, Argentina, India, Mexico, and others.

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According to the report, the global market was valued at USD 7.19 billion in 2019. Key highlights of the report include:

• Detailed segmentation and analysis of each market segment
• In-depth insights into regional market trends
• Comprehensive study of market drivers, trends, and challenges
• All-encompassing evaluation of the competitive landscape

Driving Factor

Emergence of Innovative Bee-related Startups to Transform Market Landscape

The global appetite for natural sweeteners is rapidly increasing, with honey and its derivatives receiving heightened interest for their traditional uses. This evolution within the natural sweeteners sector has led to the rise of creative startups focused on pollination-related innovations. For instance, OS Beehives, a Colorado startup, developed BuzzBox — a network-connected remote sensor that uses machine learning to monitor hive conditions based on barometric pressure, humidity, and temperature. This enables beekeepers to track hive health remotely. Another noteworthy example is BEEsharing, a Germany-based pollination brokerage network. This multifaceted platform connects farmers with beekeepers, and beekeepers with vendors for honey, pollen, and beeswax. The expanding footprint of startups engaged in honey and bee-related ventures is contributing significantly to market growth.

Regional Insights

Government-Backed Policies to Accelerate Market Growth in Asia Pacific

Asia Pacific is projected to lead the honey market through the forecast period, owing to favorable government initiatives supporting beekeeping and allied sectors. In India, the central government allocated approximately USD 68 million under the Atmanirbhar Bharat Scheme launched in May 2020 to encourage hive-based enterprises. Similar supportive measures are evident in Australia. The Asia Pacific market size was valued at USD 2.49 billion in 2019.

Europe is expected to emerge as the second-largest regional market, driven by growing public awareness of honey’s health benefits. In North America, the rising population of beekeepers in the U.S. and Canada is expected to stimulate regional market growth.

Competitive Landscape

Significant R&D Investments by Leading Players to Drive Innovation

Market growth in the honey industry is receiving a strong boost from increased research and development investments by major companies. These efforts are resulting in innovative product launches, business expansion, and broader customer outreach.

Key Companies Featured in the Honey Market Report:

• Golden Acres Honey (Canada)
• New Zealand Honey Co. (Washdyke, New Zealand)
• Dabur India Ltd. (Uttar Pradesh, India)
• Comvita Limited (Te Puke, New Zealand)
• Barkman Honey LLC (Kansas, United States)
• Dutch Gold Honey Inc. (Pennsylvania, United States)
• Bee Maid Honey Limited (Manitoba, Canada)
• Capilano Honey Ltd. (Queensland, Australia)
• Billy Bee Honey Products (Ontario, Canada)

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Industry Developments:

• September 2020 : Comvita launched Multifloral Manuka Honey, the company’s first MGO-certified Manuka product. It features honey from the Manuka flower, noted for its antibacterial properties, combined with wildflowers from New Zealand.
• June 2020 : Capilano unveiled its Low Glycemic Index (GI) Honey, made from a blend of 100% Australian eucalyptus honey. Designed as a healthier sugar alternative, it delivers energy at a slower, more sustained rate.

The global   mushroom market   reached 17.25 million tonnes in 2023 and is projected to grow from 18.39 million tonnes in 2024 to 32.04 million tonnes by 2032, representing a compound annual growth rate (CAGR) of 7.18% during the forecast period (2024–2032). In 2023, the Asia Pacific region held a dominant position with a 79.83% market share. The U.S. mushroom market is also expected to witness notable expansion, with projections estimating it will reach 1.22 million tonnes by 2032. This anticipated growth is supported by increased investments from domestic growers in advanced cultivation technologies and rising merger and acquisition activity by global companies aiming to enhance their presence in the U.S.

Mushrooms, though commonly grouped with vegetables, are actually edible fungi and not classified as plants. They offer an array of health-supporting nutrients, including riboflavin, potassium, vitamin D, selenium, and others. Research from clinical and preclinical studies highlights their role in promoting immune function, aiding in weight management, and supporting general wellness. Moreover, mushroom consumption has been associated with a reduced risk of certain illnesses, such as prostate and breast cancers, contributing to increased demand and market growth.

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Market Segmentation

The mushroom market is segmented by type into button, shiitake, oyster, and others. By form, it includes fresh, canned, frozen, and dried categories. Regionally, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

• Analysis of current market trends influencing growth
• Evaluation of key growth drivers and challenges
• Overview of COVID-19’s market impact
• Strategic insights for future market expansion
• Highlights of recent industry advancements

Drivers & Restraints

Rising Health Consciousness to Boost Demand for Nutritional Foods

Growing public focus on health and nutrition is expected to increase demand for low-fat, cholesterol-free food options, supporting higher mushroom consumption. Their use is prevalent in homes, restaurants, hotels, and cafeterias, thanks to their fiber content and digestive enzymes that benefit gut health and immunity. These attributes are expected to sustain consumption and contribute to global market growth.

Increasing research and development in commercial mushroom cultivation is anticipated to create new opportunities for expansion. Growth in global trade and the farming of exotic mushroom varieties are also likely to further drive market development.

Since mushroom cultivation is labor-intensive, with production expenses accounting for nearly a third of total costs, manufacturers are turning to automation, robotics, and advanced control systems to improve efficiency. Investment in automated production techniques is expected to further fuel growth.

Nonetheless, high operating costs may pose limitations and hinder broader market growth.

Regional Insights

Asia Pacific to Retain Leading Position Due to Elevated Consumption Levels

Asia Pacific is projected to maintain the largest share of the mushroom market throughout the forecast period, with China at the forefront of global production. Increasing demand in countries such as India and Japan, along with the use of innovative cultivation methods, is expected to support regional market expansion.

Europe is also set for considerable growth, particularly with strong demand for medicinal mushrooms in countries like Spain, the Netherlands, and the U.K. Adoption of modern production and automation technologies is expected to strengthen the region’s market position.

In North America, growth is anticipated due to investments by leading players in advanced cultivation systems and supportive policy initiatives.

South America is projected to achieve significant growth, driven by higher demand for processed food and the rising popularity of plant-based eating patterns.

Competitive Landscape

Market Leaders Pursue Mergers & Acquisitions to Expand Global Reach

Prominent players in the mushroom market are focusing on mergers and acquisitions to bolster their global operations. Innovation through research and development continues to be a major area of focus. For example, in July 2020, Leap Foods launched a new series of mushroom-based burgers and sausages.

List of Key Market Players

• Weikfield Foods Pvt. Ltd. (India)
• BioFungi GmbH (Germany)
• Monaghan Mushrooms (Ireland)
• Highline Mushrooms (Canada)
• Scelta Mushrooms BV (Netherlands)
• Monterey Mushrooms, Inc. (U.S.)
• Nasza Chata (Poland)
• Banken Champignons B.V. (Netherlands)
• Bonduelle S.A. (France)
• Ecolink Baltic (Lithuania)

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Key Industry Developments

March 2021:   New Wave Holdings Corp., a nutraceutical-focused investment company, launched its first line of functional mushroom products under the Way of Will brand. The new offerings, including capsules and powders, were introduced to the U.S. market.