The global   industrial hemp market revenue  was valued at USD 9.47 billion in 2024 and is expected to expand from USD 11.42 billion in 2025 to USD 47.82 billion by 2032, reflecting a CAGR of 22.70% during the forecast period. In 2024, Europe dominated the market, accounting for a 31.04% share.

The U.S. industrial hemp market is also projected to witness significant growth, reaching an estimated USD 8.38 billion by 2032. This expansion is fueled by the rising adoption of hemp-based products across various industries, including pharmaceuticals, food & beverages, textiles, cosmetics, and more.

Industrial hemp, classified as a botanical variant of Cannabis sativa, is primarily distinguished by its low tetrahydrocannabinol (THC) content. Its versatility and growing demand in multiple applications, such as food and beverages, dietary supplements, textiles, and functional foods, continue to drive market growth.

Information Source: https://www.fortunebusinessinsights.com/industrial-hemp-market-102459

Segmentation

Conventional Segment to Dominate Due to Widespread Industry Adoption

Based on the source, the market is segmented into organic and conventional. The conventional segment is expected to experience significant growth over the coming years, driven by the increasing deployment of industrial hemp across various industries, including textiles, automotive, and paper manufacturing.

Hemp Fiber Segment to Witness Lucrative Growth in Textile and Automotive Sectors

By type, the market is categorized into hemp seed oil, hemp seed, hemp fiber, and others. The hemp fiber segment is projected to see substantial expansion due to its rising utilization in textiles, automotive materials, and paper production. The fiber’s sustainability, durability, and versatility make it an attractive material for these industries.

Textile Segment to Lead with Growing Sustainable Practices Adoption

Based on application, the market is divided into pharmaceuticals, personal care & cosmetics, beverages, food (dietary and functional foods), textiles, and others. The textile segment held a notable market share and is anticipated to grow significantly during the forecast period. This growth is largely driven by rising consumer awareness of climate change and the increasing demand for sustainable textile materials.

By geography, the industrial hemp market is analyzed across Asia Pacific, Europe, North America, South America, and the Middle East & Africa.

Report Coverage

The report offers an in-depth analysis of key market drivers, restraints, and industry expansion factors. It also highlights emerging market trends and assesses the impact of the COVID-19 pandemic on product sales. Additionally, the report includes insights into key strategies adopted by major industry players to maintain a competitive advantage.

Drivers and Restraints

Market Expansion Fueled by Rising International Trade of Hemp Products

The industrial hemp market is experiencing significant growth due to the increasing global demand for hemp-based products across diverse applications such as food, pharmaceuticals, and textiles. Additionally, the rising demand for hemp fiber processing in various countries is further contributing to market expansion.

However, the market’s growth may be hindered by stringent regulations surrounding hemp cultivation, sale, and marketing, which vary across regions.

Regional Insights

Europe Leads the Market with Increasing Consumption of Hemp Products

Europe is expected to maintain its dominant position in the industrial hemp market, driven by high consumer demand and increasing applications of hemp-based products. Meanwhile, Asia Pacific is anticipated to experience considerable growth, primarily due to the widespread use of hemp in paper and textile manufacturing.

Competitive Landscape

Key Players Focus on Strategic Collaborations to Strengthen Market Presence

Leading companies in the industrial hemp market are adopting various strategic initiatives to expand their market footprint. These include collaborations, partnerships, mergers, and acquisitions, which help companies enhance their capabilities and strengthen their global presence.

List of Key Players Mentioned in the Report:

• Fresh Hemp Foods Ltd. (Canada)
• IND HEMP, LLC. (U.S.)
• Blue Sky Hemp Ventures (Canada)
• Panda Biotech, LLC (U.S.)
• Hemp Republic (India)
• South Hemp Tecno Srl (Italy)
• HEMP FACTORY (Germany)
• East Mesa (U.S.)
• DON Processing, Inc. (U.S.)
• HempFlax Group B.V. (Netherlands)

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Key Industry Development

• February 2023   – Alcott Enterprises, an IT consulting and managed services company, announced a collaboration with Flourish Software. The partnership focuses on delivering enhanced implementation services, technical support, and integration solutions for hemp-related businesses.

The global   bubble tea market revenue  was valued at USD 2.63 billion in 2024 and is expected to expand from USD 2.83 billion in 2025 to USD 4.78 billion by 2032, registering a CAGR of 7.81% during the forecast period. In 2024, Asia Pacific dominated the market, holding a 43.35% share.

The bubble tea trend, which originated in Asia, has rapidly gained popularity in Western countries such as Canada and the U.K.. Now a staple beverage, bubble tea is recognized for its unique formulation, consisting of high-quality milk, sweetener liquid, tapioca pearls, creamer, and fruit powder. More than just a drink, bubble tea has become a global cultural icon, symbolizing Taiwan’s food innovation within the food service industry.

For instance, Nextrends Asia 2021 reported a 330% surge in Taiwan’s exports of pearl milk tea base ingredients, including raw materials, packaging, and machinery, compared to 2018. Additionally, the rise of gastronomic tourism, increasing health-conscious consumers, and the impact of social media have significantly contributed to the market's growth and future potential.

Information Source: https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564

Segments

Black Tea Segment to Experience Significant Demand from 2023 to 2030

As global consumers become increasingly health-conscious, the black tea segment is expected to grow at a notable CAGR during the forecast period. Black tea is widely promoted due to its powerful antioxidant, anti-aging, and anti-diabetic properties. A key driver of this segment’s growth is the rising consumer preference for natural and organic food and beverage products. Additionally, the green tea segment is projected to capture a substantial share of the bubble tea market, following closely behind black tea.

Fruit Flavor Gaining Popularity in the Coming Years

The market is segmented into coffee, fruit, chocolate, original, and other flavors. In 2019, fruit flavor dominated the market, outpacing other flavors in popularity. The segment includes a variety of flavors such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, and lemon. The increasing demand for tea-based fruity beverages, combined with their higher nutritional value compared to other flavors, is expected to drive significant market growth. Meanwhile, the chocolate flavor segment is anticipated to witness the fastest growth in the coming years due to rising consumer demand for chocolate-infused beverages across all age groups.

Report Coverage

The report provides:

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  Analysis of major growth drivers, challenges, opportunities, and restraints impacting the market.

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  Comprehensive insights into regional market developments.

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  A list of key industry players shaping the competitive landscape.

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  Overview of strategic initiatives adopted by market participants.

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  Recent industry advancements, including product launches, partnerships, mergers, and acquisitions.

Drivers and Restraints

Expanding Variety of Boba Tea Offerings to Drive Market Growth

Consumer preferences are shaped by several factors, including taste, pricing, branding, and accessibility. As a result, tea manufacturers must develop high-quality and diverse offerings that cater to evolving consumer tastes. The rising popularity of bubble milk tea is primarily attributed to its flavor, accessibility, and continuous reinvention of traditional tea recipes.

The market holds immense potential due to the availability of various boba tea options, including fruit-flavored, green jasmine, and black tea-based milk teas. For instance, in April 2022, U.S.-based startup Bubluv Inc. introduced three new flavors of tapioca starch and konjac-based boba tea, reflecting the industry’s efforts to innovate and expand.

Regional Insights

Asia Pacific to Lead as Consumers Explore New Beverage Options

In 2022, Asia Pacific held the largest market share, valued at USD 0.96 billion. Vietnam and Taiwan are expected to be the highest revenue-generating markets. To attract consumers and expand their market presence, many manufacturers and entrepreneurs in the boba tea industry are opening their own cafés and specialty tea shops. For example, in September 2020, Chen Shucheng launched Meme Xpress, a new bubble milk tea franchise in Singapore.

Meanwhile, North America held the second-largest market share and is expected to retain this position throughout the forecast period. The increasing popularity of tea-based beverages is driving steady growth in North American countries. Additionally, Europe has also witnessed a rise in pearl milk tea consumption, following a similar trend seen in Asia-Pacific.

Competitive Landscape

Leading Companies Focus on Innovation to Meet Growing Consumer Demand

To cater to rising consumer demand, key market players are enhancing ingredient functionality in boba tea beverages. Companies such as Lollicup U.S.A. Inc., Gong Cha, Chatime, Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company are actively investing in research and development to introduce new and exciting tea varieties. Many major competitors are also expanding their franchise networks into new locations, leveraging their strong brand popularity and customer loyalty.

List of the Companies Profiled in the Report:

• Chatime Group (China)
• Gong Cha (Taiwan)
• Coco Fresh Tea & Juice (Taiwan)
• Quickly (U.S.)
• Xing Fu Tang (Taiwan)
• Lollicup USA, Inc. (U.S.)
• TIGER SUGAR (China)
• Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan)
• O.I. The Co, LTD. (Taiwan)

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Key Industry Development:

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  October 2021   – Del Monte introduced Joyba Bubble Tea in select retail outlets, including Costco, Circle K, Albertsons, Target, and Safeway.

The global   probiotics market   was valued at USD 48.88 billion in 2019 and is expected to reach USD 94.48 billion by 2027, registering a CAGR of 7.9% over the forecast period. In 2019, North America led the market, accounting for 16.98% of the global share. The U.S. probiotics market is projected to witness significant growth, reaching an estimated USD 17.99 billion by 2032, driven by the increasing adoption of immunity-boosting and probiotic-fortified food products due to their health benefits.

Growing consumer awareness of preventive healthcare, along with rising demand for natural and safe health-enhancing products, is expected to fuel market expansion. Additionally, various initiatives by professional organizations aimed at educating consumers and promoting probiotic consumption will further support growth. For example, the Nutrition Society of Malaysia (NSM) has launched the Probiotics Education Program (PEP) to enhance consumer knowledge about the health benefits of probiotics.

Information Source:  https://www.fortunebusinessinsights.com/industry-reports/probiotics-market-100083  

What Does the Report Include?

The market report provides a comprehensive analysis of key growth drivers, restraints, opportunities, and challenges expected to impact the market during the forecast period. Additionally, it offers an in-depth examination of regional market trends influencing overall growth. Our research analysts, leveraging insights from industry experts and various methodologies, have compiled this data. The report also explores the competitive landscape, detailing strategies such as product launches, partnerships, mergers, acquisitions, and collaborations that companies employ to strengthen their market position from 2020 to 2027.

DRIVING FACTORS

Rising Demand for Immunity-Boosting Foods to Drive Market Growth

The increasing prevalence of lifestyle diseases, including obesity and diabetes, is fueling demand for healthier dietary choices. According to the World Health Organization (WHO), global obesity rates have tripled since 1975. This alarming trend has accelerated the demand for immunity-enhancing products such as probiotics worldwide. Additionally, advancements in technology are enabling manufacturers to educate consumers about the health benefits of these products, further driving market expansion. These factors are expected to propel the growth of the global probiotic bacteria market over the forecast period.

SEGMENTATION

Supermarkets/Hypermarkets Accounted for 61.33% Market Share in 2019

In 2019, the supermarkets/hypermarkets segment held a dominant market share of 61.33%. This growth is attributed to the broad availability of products, easy accessibility, and attractive incentives such as discounts and cashback offers.

REGIONAL INSIGHTS

Asia-Pacific to Lead Market Growth Due to Increased Consumption of Fermented Beverages

Asia-Pacific is projected to experience significant growth and maintain a leading position in the global probiotic bacteria market. This dominance is primarily driven by the rising consumption of fermented food products, which contribute to gut health and a well-balanced diet.

Meanwhile, the North American market, valued at USD 8.30 billion in 2019, is expected to witness substantial growth during the forecast period. This growth is attributed to the rising incidence of lifestyle-related diseases and the presence of established manufacturers focused on developing innovative probiotic products between 2020 and 2027.

COMPETITIVE LANDSCAPE

Leading Companies Focus on Innovation to Strengthen Market Presence

The global probiotics market comprises several key players striving to expand their presence by introducing new and innovative probiotic products. Strategic initiatives such as partnerships, collaborations, and mergers and acquisitions are being adopted by these companies to enhance their distribution networks and drive market growth.

List of the Companies Profiled in the Market:

• Danone S.A. (Paris, France)
• Lallemand Inc. (Canada)
• Yakult Honsha (Japan)
• Nestlé S.A. (Vevey, Swizerland)
• DuPont (Danisco A/S) (Delaware, United States)
• Hansen (Horsholm, Denmark)
• Kerry Inc. (Tralee, Ireland)
• Post Holdings, Inc. (Missouri)
• Pepsico, Inc. (New York, United States)
• Evolve Biosystems, Inc. (Davis, California)

Industry Development:

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  June 2020   – Pendulum Therapeutics launched Pendulum Glucose Control, the first-ever medical probiotic proven to reduce blood sugar spikes and A1C levels.

The global s uperfoods market   was valued at USD 188.02 billion in 2024 and is projected to grow from USD 202.10 billion in 2025 to USD 339.59 billion by 2032, reflecting a compound annual growth rate (CAGR) of 7.70% during the forecast period. In 2023, North America held the largest market share at 41.2%. Key players in the market include Terrasoul Superfoods, Archer Daniels Midland Company, and Suncore Foods.

Superfoods are defined as nutrient-dense foods celebrated for their exceptional nutritional and health benefits. These foods are typically rich in antioxidants, vitamins, minerals, and flavonoids, offering advantages that extend beyond basic nutrition. Popular superfoods in the global market include flax seeds, chia seeds, goji berries, blueberries, and quinoa. Although the concept of superfoods is still emerging, its popularity is rapidly growing among health-conscious individuals seeking to integrate natural, nutrient-rich ingredients into their diets. Incorporating superfoods into daily routines provides numerous health benefits, such as improved mental clarity, increased energy levels, and a reduced risk of cardiovascular diseases. Additionally, the expanding availability of diverse superfoods enhances the flavor and nutritional profile of end products.

Information Source:   https://www.fortunebusinessinsights.com/super-foods-market-102484  

Segmentation:

Fruits Segment Leads Market Due to Its Enrichment of Essential Nutrients

In terms of product type, the market is segmented into vegetables, grains & seeds, fruits, herbs & roots, and others. The fruits segment emerged as the dominant segment in the market in 2024 and captured the largest share. The share is due to their essential nutrients, including vitamins, fiber, and minerals, which are vital for healthy development and help reduce the risk of cancer and cardiovascular diseases.

Beverages Segment Dominated Market Owing to Extensive Product Use in Popular Drinks

In terms of application, the market is distributed into snacks, processed fruit & vegetable snacks, beverages, bakery, confectionery, and others. The beverages segment led the global market and is projected to witness significant growth in the coming years. The segment’s growth is driven by the widespread use of natural supplements in popular beverages, including fortified vegetable and fruit drinks, energy drinks, sports drinks, and probiotic beverages.

Supermarkets/Hypermarkets Lead Market Owing to Wide Availability of Products and Offers

In terms of distribution channels, the market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online retail, and others. Supermarkets/hypermarkets have captured the leading position in the market and are projected to continue their leadership in the forthcoming years. The segment's growth is attributed to the widespread availability of most products and bulk purchasing offers.

Concerning region, the market covers North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Report Coverage:

The report has conducted a detailed study of the market and highlighted several critical areas, such as leading applications, distribution channels, product types, and key market players. It has also focused on the latest market trends and key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.

Drivers and Restraints:

Increasing Product Demand by Geriatric Population to Drive Market Growth

Geriatric nutrition is essential for maintaining the health and overall well-being of older adults. As individuals age, they encounter various challenges, including health-related issues, changes in lifestyle, and specific nutritional requirements. The absorption of nutrients becomes less efficient, which increases the risk of nutrient deficiencies among the elderly population. Additionally, the prevalence of chronic conditions such as osteoporosis, cardiovascular diseases, and diabetes escalates significantly with age. In response to these challenges, manufacturers are increasingly introducing "superfood ingredients," which are nutrient-dense products designed to support healthier lifestyles in older adults. Collectively, these factors contribute to the growing demand for natural supplements and propel the superfoods market growth.

However, the high costs of natural supplements are a major constraint restricting the growth of the global market.

Regional Insights:

North America Led Market Owing to Growing Burden of Health Issues

The North American region dominates the global market and has a significant superfoods market share. The region’s growth can be attributed to the dynamic food and beverage industry and the growing burden of chronic health issues. As chronic conditions become more common, consumers are increasingly opting for healthy food options that are enriched with natural supplements. Moreover, the U.S. ranks first in the consumption of superfood-based products.

Following North America, the European region holds the second-largest market position and is expected to see notable growth in the coming years. Key factors driving market expansion in Europe include the ongoing trend of veganism and the increasing demand for functional foods.

Competitive Landscape:

Leading Industry Players to Launch Superfood-Infused Food Products to Increase its Market Reach

The leading industry players are Archer Daniels Midland Company, Terrasoul Superfoods, Del Monte Foods, and Creative Nature. These players are emphasizing launching superfood-infused food items, such as beet chips and quinoa puffs, to increase their reach for health-conscious consumers globally.

LIST OF KEY COMPANIES PROFILED IN THE REPORT

• Archer Daniels Midland Company (U.S.)
• Suncore Foods, Inc. (U.S.)
• Del Monte Foods (U.S.)
• Creative Nature (U.K.)
• Terrasoul Superfoods (U.S.)
• Navitas Organics (U.S.)
• Sunfood Superfoods (U.S.)
• The Green Labs LLC (U.S.)
• OMG Superfoods (U.S.)
• Raw Nutritional (Canada)

 Notable Industry Development:

October 2024:   Kate’s Real Foods, an American producer of organic snacks, announced the launch of its latest energy bar, “Pumpkin Spice,” across the market. This bar is crafted from the brand’s signature high-quality ingredients, including organic oats, pumpkin seeds, and real fruits. The energy bar packs 8 grams of protein per serving.

The global   oat milk market   was valued at USD 3.01 billion in 2023 and is expected to grow from USD 3.46 billion in 2024 to USD 10.83 billion by 2032, reflecting a compound annual growth rate (CAGR) of 15.32% during the forecast period. In 2023, the Asia Pacific region led the market, accounting for 50.5% of the global share. Key players in the industry are focusing on product innovation, sustainability initiatives, and strategic collaborations to strengthen their market position as demand for plant-based alternatives continues to rise. These companies are adapting their strategies to align with consumer preferences while effectively competing in a dynamic market.

Oat milk is a plant-based dairy alternative primarily made from oats and water, often enriched with additional vitamins and minerals. It is a lactose-free, nut-free, and dairy-free option, making it suitable for individuals with dietary restrictions or those seeking non-dairy products. The market is witnessing strong growth, fueled by increasing awareness of health benefits, rising cases of dairy milk allergies and lactose intolerance, and a shift toward plant-based diets. Over the coming years, the market is anticipated to grow significantly, supported by product innovation and expanding availability in retail channels.

Information Source:   https://www.fortunebusinessinsights.com/oat-milk-market-110935  

Segmentation:

Conventional Segment to Dominate Market Owing to its Affordability and Easy Accessibility

Based on nature, the market is divided into organic and conventional. The conventional segment will dominate the global market share in the coming years. The segment’s growth can be attributed to its affordability compared to organic alternatives, making it easily accessible to a wide consumer base.

Carton’s Ability to Preserve Freshness and Quality of Product Backs its Dominance

Based on packaging, the market is segregated into cartons and bottles. The carton segment is anticipated to lead the market, favored by its ability to preserve the freshness and quality of the product.

Non-Flavored Segment Captured Major Market Share Due to its High Versatility

Based on flavor, the market is segmented into flavored and non-flavored. The non-flavored segment accounts for the major oat milk market share due to its versatility, which makes it ideal for a variety of culinary applications, such as coffee, smoothies, and cooking.

Supermarkets/Hypermarkets Segment Leads Due to Its Easy Accessibility

Based on distribution channels, the market is categorized into supermarkets/hypermarkets, convenience stores, online retail, and others. The supermarket/hypermarket segment is expected to dominate the market share. The segment’s dominance is due to its easy accessibility to various oat milk brands and products, as they are the most frequented locations for grocery shopping.

With respect to region, the market covers North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Report Coverage:

The report has conducted a detailed study of the market and highlighted several critical areas, such as leading applications, nature, packaging types, flavors, distribution channels, and key market players. It has also focused on the latest market trends and key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.

Drivers and Restraints:

Significant Increase in Lactose Intolerance   to Increase Product Demand

A significant portion of the population, notably in North America, is lactose intolerant. As per Boston’s Children’s Hospital, approximately 30-50 million people in America are lactose intolerant. This increase in the population that is lactose intolerant is necessitating various non-dairy food alternatives that offer a taste and texture similar to that of cow’s milk. Oat milk is becoming a suitable option for individuals with dietary restrictions as it is allergen-friendly in nature. It is free from lactose, soy, nuts, and other common allergens, which makes it ideal for consumers with allergies or sensitivities. These properties make it appealing among individuals, thereby contributing to oat milk market growth.

However, it is considered a niche product; this perception is expected to restrict the adoption of oat milk, making it difficult for manufacturers to scale operations.

Regional Insights:

Asia Pacific Dominated Market Owing to Presence  of Emerging Economies

Asia Pacific captured the largest share, 50.61% of the global market in 2023. The region’s growth is attributed to its emerging economies, such as China and India, which generate massive growth opportunities. The growing adoption of flexitarian and vegan lifestyles, along with the surge in the number of vegan festivals and initiatives, is expected to drive product demand in the region.

North America is expected to witness significant growth, driven by the strong presence of prominent manufacturers in the U.S. The top companies in the region, including Oatly Group AB, Planet Oat, Califia Farms, Danone SA, and Ripple Foods, hold the dominating position in the market.

Competitive Landscape

Leading Players to Adopt Various Strategies to Sustain Their Competitive Advantage

The global market for oil milk is characterized by moderate competition. The leading players are adopting various strategies, such as spending on research and development initiatives, strengths and weaknesses, product offerings, the introduction of new products, and mergers and acquisitions to remain competitive.

LIST OF KEY COMPANIES PROFILED IN THE REPORT:

• HP Hood LLC. (U.S.)
• Danone S.A. (France)
• Chobani, LLC. (U.S.)
• Campbell Soup Company (U.S.)
• Oatly Group AB (Sweden)
• Califia Farms (U.S.)
• Hain Celestial Group, Inc. (U.S.)
• Smile Foods (U.S.)
• Boring (New Zealand)
• Earth's Own Food Company (Canada)

Notable Industry Development:

September 2024:   Forbidden Foods, a prominent Australian-owned and managed food firm, acquired Oat Milk Goodness (OMG), a plant-based non-dairy brand. By incorporating OMG's offerings, including oat milk and flavored milk products, the company aims to strengthen its product offerings.

The global   nutraceuticals market   was valued at USD 419.93 billion in 2023 and is projected to grow from USD 457.35 billion in 2024 to USD 976.74 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.95% during the forecast period (2024–2032). The U.S. nutraceuticals market is expected to grow significantly, reaching an estimated value of USD 163.15 billion by 2032, driven by increasing consumer awareness about the health benefits of nutraceuticals in improving wellness and preventing lifestyle-related diseases. In 2023, Asia Pacific dominated the global nutraceuticals market, accounting for 39.79% of the market share.

Nutraceuticals are gaining widespread popularity worldwide as consumers become more aware of their health benefits. The growing understanding of how these products can help prevent or delay the onset of various health conditions has significantly boosted their demand. Additionally, nutraceuticals are increasingly favored by individuals seeking natural and alternative methods to enhance and maintain overall health and well-being.

Market Segmentation:

The market is segmented based on product type into dietary supplements, functional foods, and functional beverages. In 2020, the dietary supplements segment accounted for approximately 19.12% of the global nutraceuticals market share in terms of revenue. This segment is expected to witness significant growth, driven by numerous companies expanding their production facilities to meet rising consumer demand.

By distribution channel, the market is divided into hypermarkets/supermarkets, convenience stores, online retail, and others. Geographically, the market is segmented into Asia-Pacific, North America, Europe, South America, and the Middle East and Africa.

What Does the Report Include?

The global nutraceuticals market report provides a comprehensive analysis, focusing on key aspects such as materials, leading companies, applications, and products. It also highlights the latest trends and major industry developments. The report includes historical data and forecasts revenue growth at global, regional, and country levels, analyzing the industry's dynamics and opportunities that will influence market growth between 2021 and 2028.

DRIVING FACTORS

Increasing Investment in Product Development to Drive Growth

In January 2020, Archer Daniels Midland Company acquired Yerbalatina Phytoactives, a leading producer of natural plant-based extracts and ingredients, to strengthen its market position. Similarly, many companies are investing in R&D to develop and launch health-benefiting food products, catering to the growing global demand for nutritious options. Additionally, the development of natural food products free from harmful substances is expected to boost the global nutraceuticals market in the coming years.

REGIONAL INSIGHTS

Asia-Pacific to Dominate; North America to See Rising Demand for Functional Foods

Asia-Pacific is projected to maintain its dominant position in the market during the forecast period, driven by its large population and improving living standards in countries like India, Japan, and South Korea. In 2020, the region's market value stood at USD 124.70 billion.

North America is expected to hold the second-largest market share, fueled by increasing demand for plant-based nutritional products and functional foods, particularly in the U.S., between 2021 and 2028.

COMPETITIVE LANDSCAPE

Mergers and Acquisitions to Enhance Market Prospects

The global nutraceuticals market includes small, medium, and large companies competing to strengthen their market presence. Major players are expanding their portfolios by acquiring smaller companies, while others are adopting strategies such as facility expansion, partnerships, and collaborations to gain a competitive edge. These efforts are expected to drive market growth in the coming years.

List of the Companies Profiled in the Global Market for Nutraceuticals:

• Herbalife Nutrition Ltd. (California, United States)
• Archer Daniels Midland Company (Illinois, United States)
• General Mills (Minnesota, United States)
• PepsiCo Inc. (New York, United States)
• BASF SE (Mannheim, Germany)
• Abbott (Illinois, United States)
• Amway (Michigan, United States)
• Glanbia Plc. (Ireland)
• Danone S.A. (Paris, France)
• Nestle S.A. (Vevey, Switzerland)

Industry Development:

September 2020:  Nuliv Science launched Senactiv, a new compound designed to promote muscle energy and regeneration. The company highlighted that this sports product was developed in response to the growing consumer demand for dietary supplements.

The global   phosphatic fertilizers market   was valued at USD 62.24 billion in 2018 and is anticipated to grow to USD 83.28 billion by 2026, reflecting a compound annual growth rate (CAGR) of 3.80% during the forecast period. In 2018, North America led the market, accounting for 12.11% of the global phosphatic fertilizers market share.

Phosphorus plays a critical role in promoting robust root development and enhancing a plant's ability to withstand drought conditions. This essential nutrient is crucial for various stages of plant growth, including seed and fruit ripening. Phosphatic fertilizers, such as diammonium phosphate (DAP) and monoammonium phosphate (MAP), are widely used to address phosphorus deficiencies in soils. Both DAP and MAP contain significant amounts of ammonia, and advancements in ammonia production technologies, such as green ammonia, are expected to further drive the expansion of the global phosphatic fertilizers market.

Information Source:   https://www.fortunebusinessinsights.com/phosphatic-fertilizers-market-102583  

Rising Product Launches to Drive Market Growth

The report highlights various factors that have fueled the market's expansion in recent years. A significant contributor to this growth is the increasing number of product launches. For instance, in September 2016, ICL unveiled a new technology designed to produce controlled-release fertilizers. The company introduced ‘E-Max Release Technology,’ a system that ensures the controlled release of nutrients such as phosphate and nitrogen. This innovation is expected to significantly boost the company's revenue in the phosphatic fertilizers market in the coming years, thereby positively influencing the overall market growth.

North America Dominates Market Share; Growing Demand for Sustainable Crop Production to Propel Growth

The report evaluates the current market trends for phosphatic fertilizers across regions, including North America, Latin America, Asia Pacific, the Middle East, and Africa. Among these, North America holds the largest market share, primarily due to the high demand for agricultural and crop produce in the region. As of 2018, the North American market was valued at USD 7.54 billion, with expectations of further growth in the foreseeable future. Additionally, the Asia Pacific region is anticipated to experience substantial growth, driven by its extensive agricultural land under cultivation.

RESTRAINING FACTORS

Stringent Government Policies on Phosphate-Based Fertilizer Usage

Phosphatic fertilizers, commonly used in areas with high rainfall, are prone to leaching into groundwater and being washed into waterways. This can lead to significant environmental and economic harm. To mitigate these effects, governments in both developed and some developing economies have imposed stricter regulations on the use of phosphatic fertilizers. These stringent policies are expected to hinder the growth of the phosphate fertilizers market. Additionally, fluctuating product prices, driven by volatility in energy costs, are likely to further restrict market expansion in the coming years.

A few of the leading companies that are currently operating in the global market include:

• Yara International ASA
• Israel Chemical Ltd.
• The Mosaic Company
• CF Industries Holdings, Inc.
• Coromandel International Limited
• The OCP Group
• PhosAgro PJSC
• Sociedad Química y Minera de Chile S.A.
• Nutrien Ltd.
• Koch Industries, Inc.

The global   mushroom market   was valued at 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, exhibiting a CAGR of 7.18% during the forecast period (2024-2032). In 2023, Asia Pacific dominated the market with a 79.83% share. Additionally, the U.S. mushroom market is expected to expand significantly, reaching an estimated 1.22 million tonnes by 2032. This growth is driven by increased investments from local growers in advanced cultivation technologies and rising merger and acquisition activities by international players aiming to strengthen their presence in the country.

Mushrooms, commonly referred to as edible fungi, are classified as vegetables but are not technically considered plants. They are rich in essential nutrients such as riboflavin, potassium, vitamin D, and selenium, offering various health benefits. Clinical and preclinical studies indicate that mushroom consumption supports immune function, weight management, and overall health. Moreover, research suggests that regular consumption may reduce the risk of diseases such as prostate and breast cancer, further driving demand and boosting sales performance.

Information Source:  https://www.fortunebusinessinsights.com/industry-reports/mushroom-market-100197

Market Segmentation

Based on type, the market is divided into oyster, shiitake, button, and others. By form, it is categorized into canned, frozen, fresh, and dried. Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

• Incorporate the latest market trends influencing growth.

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  Evaluates key drivers and restraints shaping the industry.

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  Provides an in-depth analysis of the COVID-19 pandemic’s impact.

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  Recommends innovative strategies for sustained growth.

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  Highlights recent industry developments and advancements.

Drivers & Restraints

Rising Health Consciousness to Drive Nutritional Food Demand

The increasing awareness of health and nutrition among the growing global population is expected to boost the demand for foods low in cholesterol and fat. Mushrooms, widely used in households, restaurants, hotels, and cafeterias, are rich in fiber and digestive enzymes that enhance immunity and gut health. These nutritional benefits are expected to drive global mushroom market growth.

Growing investments in research and development for commercial cultivation will likely present lucrative opportunities for market expansion. Additionally, the rising international trade and cultivation of exotic mushroom varieties are projected to contribute to market growth.

Mushroom production is labor-intensive, accounting for a significant portion of overall costs. This has prompted manufacturers to integrate robotics and advanced control systems for automation. Increased investments in automated production processes are expected to further propel market growth.

However, high operational costs may pose a challenge to market expansion.

Regional Insights

Asia Pacific to Dominate Due to High Consumption Levels

Asia Pacific is expected to hold the largest market share during the forecast period, with China leading as the world’s top edible fungus producer. The growing consumption of mushrooms in India, Japan, and other countries, along with the increasing adoption of modern production techniques, will drive regional growth.

Europe to Witness Significant Expansion

Europe is projected to experience notable growth, driven by high demand for medicinal mushroom products in Spain, the Netherlands, and the U.K. Additionally, the region’s rising adoption of automation and advanced cultivation methods is expected to support market expansion.

North America to Experience Lucrative Growth

North America is anticipated to see substantial growth due to the adoption of advanced production methods by key market players and supportive government initiatives promoting mushroom cultivation.

South America to Benefit from Processed Food Demand

South America is expected to grow steadily, fueled by increasing consumption of processed food products and the rising adoption of vegan lifestyles.

Competitive Landscape

Major Players Focus on Mergers & Acquisitions for Global Expansion

Leading industry players are prioritizing mergers, acquisitions, and extensive research and development initiatives to strengthen their global footprint. Companies are actively focusing on product innovation to stay competitive.

List of Key Market Players-

• Weikfield Foods Pvt. Ltd. (Maharashtra, India)
• BioFungi GmbH (Bavaria, Germany)
• Monaghan Mushrooms (Monaghan, Ireland)
• Highline Mushrooms (Ontario, Canada)
• Scelta Mushrooms BV (Limburg, Netherlands)
• Monterey Mushrooms, Inc. (California, U.S.)
• Nasza Chata (Czaniec, Poland)
• Banken Champignons B.V. (Wijchen, Netherlands)
• Bonduelle S.A. (Villeneuve d’Ascq, France)
• Ecolink Baltic (Varena, Lithuania)

Key Industry Developments

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  March 2021:   New Wave Holdings Corp., an investment issuer in the nutraceutical sector, launched its first line of functional mushroom products under the Way of Will brand. The company introduced functional capsules and powder to the U.S. market.

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  July 2020:   Leap Foods introduced a new range of mushroom-blended burgers and sausages, expanding its product portfolio.