The global   vegan food market   was valued at USD 33.14 billion in 2023 and is projected to expand from USD 37.37 billion in 2024 to USD 103.00 billion by 2032, registering a CAGR of 13.51% during the forecast period. Asia Pacific led the market with a 42.58% share in 2023. In the U.S., the vegan food market is expected to grow substantially, reaching an estimated USD 26.90 billion by 2032, driven by increasing awareness of veganism and the rising adoption of plant-based diets.

Rising consumer demand for meat substitutes and dairy alternatives is anticipated to accelerate product adoption. A vegan diet, which eliminates high-calorie foods and unhealthy carbohydrates, is known to aid in weight management and support overall health. Plant-based diets are rich in nutrients, including antioxidants, fiber, and essential vitamins such as A, C, and E. Individuals following vegan or vegetarian lifestyles tend to consume higher amounts of legumes, fruits, vegetables, allium vegetables, and vitamin C, which may help reduce the risk of cancer. Additionally, vegan diets promote better digestion and nutrient absorption, drawing more consumers toward plant-based eating.

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Segmentation

Almond Segment to Dominate Due to High Nutritional Value

Based on source, the market is segmented into almonds, soy, oats, and others. The almond segment is expected to lead due to increased consumer awareness of its nutritional benefits.

Supermarkets/Hypermarkets to Hold Largest Share Due to Accessibility

By distribution channel, the market is categorized into supermarkets/hypermarkets, convenience stores, online sales channels, and others. Supermarkets/hypermarkets are expected to dominate, owing to the ease and accessibility they offer to shoppers.

Regional Market Overview

The market is geographically segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

This report presents a detailed analysis of key market segments and emerging trends. It thoroughly explores the driving and restraining factors influencing market dynamics, assesses the impact of COVID-19, and evaluates regional developments and strategies adopted by leading players.

Drivers and Restraints

Expansion of Flavor Offerings to Drive Market Growth

Vegan yogurt made from almond, oat, coconut, or soy is gaining popularity, supported by a growing vegan population and rising lactose intolerance. The launch of new and diverse flavors is further fueling demand. For instance, in October 2020, Soyarich Foods introduced “Yofu,” a plant-based yogurt available in apple cinnamon, cherry, and mango flavors. Made with real fruit pulp and free from preservatives and artificial colors, the product has positively contributed to market growth.

Nevertheless, challenges such as suboptimal manufacturing practices and high production costs may impede market development.

Regional Insights

Asia Pacific to Lead Market Growth with Rising Population and Health Awareness

Asia Pacific is expected to dominate the vegan yogurt market, supported by a large and growing population. The regional market was valued at USD 963.05 million in 2021 and is forecasted to secure a substantial global share. Increased lactose intolerance and higher disposable income levels further support regional expansion.

In North America, heightened awareness of dairy alternatives and a growing demand for plant-based products are projected to fuel market progress.

In Europe, the shift toward sustainable, eco-friendly, and innovative product offerings is expected to bolster the demand for vegan yogurt, enhancing regional market growth.

Competitive Landscape

Innovative Product Launches to Strengthen Market Presence

Leading players in the vegan yogurt market are focusing on launching new and innovative products to boost their brand visibility. For example, in March 2022, AYO released a new line of almond milk yogurts, available in multiple flavors. The product serves as a versatile base for desserts, dips, and smoothies, helping the brand enhance its global footprint.

In addition to product launches, companies are adopting strategies such as mergers, acquisitions, partnerships, R&D, and automation to solidify their market positions and achieve strategic business objectives.

Key Players Profiled in the Report

• Danone S.A. (France)
• General Mills Inc. (U.S.)
• Oatly A.B. (Sweden)
• Forager Project (U.S.)
• Coyo Pty Ltd (U.S.)
• Nancy's Probiotic Foods (U.S.)
• Chobani Global Holdings (U.S.)
• Kite Hill (U.S.)
• Daiya Foods Inc. (Canada)
• GT's Living Foods LLC (U.S.)

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Key Industry Development

In June 2022, So Delicious introduced a new line of coconut milk yogurts infused with botanical extracts. These yogurts feature organic coconut and live probiotics and are available in three flavors: mango with ginger and turmeric extracts, mixed berry with chamomile, and elderberry.

The global   frozen food market   was valued at USD 310.77 billion in 2024. It is expected to expand from USD 325.09 billion in 2025 to USD 457.34 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% over the forecast period. Europe led the market with a 39% share in 2024. In the U.S., the frozen food market is projected to witness significant growth, reaching an estimated USD 110.23 billion by 2032, driven by increasing demand for products with extended shelf life.

The market includes a range of frozen products such as ready meals, seafood and meat, snacks and bakery items, as well as fruits and vegetables. These products are distributed through various channels including supermarkets/hypermarkets, convenience stores, specialty outlets, and online retail platforms.

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COVID-19 Impacts:

Reduced Workforce in Production Facilities Amid COVID-19 Hindered Market Growth

During the COVID-19 pandemic, the frozen food market experienced a surge in sales, largely due to panic buying as consumers anticipated global lockdowns. Frozen goods, alongside essential staples, were among the top-selling items in the early days of lockdown due to their long shelf life.

Report Coverage:

Our reports adopt a rigorous analytical approach, emphasizing detailed insights. Utilizing a data triangulation method, our analysts ensure accurate assessments of market conditions. Furthermore, access to both global and local databases allows us to deliver the latest insights, enabling stakeholders to invest wisely in the most critical sectors.

Segmentation:

By type, the market is segmented into frozen ready meals, frozen seafood & meat, frozen snacks & bakery, and others. The frozen seafood and meat segment is expected to dominate the market share.

In terms of distribution channels, the market is divided into supermarkets/hypermarkets, convenience stores, specialty stores, and online retail.

Regionally, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Drivers and Restraints:

Growing Demand for Convenience Foods to Propel Market Growth

The processed food sector is primarily fueled by the convenience that packaged foods offer, appealing to consumers across all age groups. The rising preference for ready-to-eat and easy-to-prepare meals has accelerated market growth. Compared to cooking from scratch, frozen foods offer a quicker and more convenient alternative, which continues to drive demand.

Regional Insights:

Europe is anticipated to maintain its leading position in the frozen foods market, supported by a rising vegan population, which is expected to boost sales of frozen vegetables. Key growth drivers include strong consumer purchasing power, economic stability, and evolving food preferences.

Asia Pacific has shown notable growth, fueled by increasing acceptance of digital retail platforms. The expansion of cold chain infrastructure in emerging economies further supports regional market growth.

North America is expected to hold the third-largest share, driven by high consumer awareness about the benefits of frozen foods.

Competitive Landscape:

Innovative Product Launches by Key Players to Boost Market Expansion

Leading companies employ various strategies to reinforce their market presence. Acquisitions to enhance brand portfolios and frequent launches of innovative products based on in-depth market research are key strategies driving their growth.

Key Players Featured in the Frozen Foods Market Report:

• General Mills Inc. (Minnesota, U.S.)
• Nestlé SA (Vevey, Switzerland)
• Conagra Brands Inc. (Illinois, U.S.)
• The Kellogg Company (Michigan, U.S.)
• Grupo Bimbo S.A.B. de C.V. (Mexico City, Mexico)
• Lantmännen Unibake International (Copenhagen, Denmark)
• The Kraft Heinz Company (Illinois, U.S.)
• Unilever PLC (London, U.K.)
• Wawona Frozen Foods (California, U.S.)
• Tyson Foods, Inc. (Arizona, U.S.)

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Industry Developments:

In June 2021, Pilgrim’s Pride Corporation acquired the Meats and Meals business of Kerry Consumer Foods in the U.K. and Ireland. This acquisition is expected to strengthen PPC’s product portfolio by adding established brands such as Richmond, Denny, and Fridge Raiders.

The global   tuna fish market   was valued at USD 43.14 billion in 2024 and is anticipated to increase from USD 44.27 billion in 2025 to USD 54.51 billion by 2032, indicating a compound annual growth rate (CAGR) of 3.02% over the forecast period. The U.S. tuna fish market is forecasted to hit USD 10.17 billion by 2032, fueled by the rising popularity of fresh seafood and greater consumption of cultural cuisines, particularly those of Asian origin. Europe led the market in 2024 with a 36.25% share.

Tuna holds significant commercial value and serves an essential function in marine ecosystems. The six major market-relevant species include Southern Bluefin, Skipjack, Bigeye, Atlantic, Yellowfin, and Pacific. Evolving consumer behavior reflects a higher demand for convenient and healthy food choices, boosting interest in protein-dense foods such as tuna.

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COVID-19 Impact:

Market Growth Hampered by Supply Chain Interruptions

The COVID-19 crisis adversely influenced the global tuna market due to restrictions implemented by governments, which affected commercial fish landings. The shutdown of restaurants, constraints on workforce mobility, and social distancing protocols disrupted the seafood supply chain. The Food and Agriculture Organization (FAO) reported that canned tuna demand fell by 80–90% owing to a decline in restaurant activity.

Segments:

Skipjack Tuna Segment to See Growth Owing to Its Nutritional Value and Accessibility

The market is divided by species into Skipjack, Albacore, Yellowfin, Bigeye, Bluefin, and others. Among these, Skipjack is projected to lead the market because of its broad availability and notable nutritional properties. According to Asia Pacific – Fish Watch, Skipjack comprises more than 70% of all tuna catches in the Western and Central Pacific and about 50% in the Indian Ocean. It offers a low-fat protein source with low sodium content, driving consumer interest.

Increased Canned Tuna Sales Driven by Demand for Convenient Food Options

In terms of product type, the market is segmented into fresh, canned, and frozen. The canned category is anticipated to dominate due to rising health awareness and user-friendly consumption. Canned tuna is a rich source of omega-3 fatty acids, which help lower blood pressure, cholesterol, and risks associated with dementia and inflammation. The availability of diverse product offerings—from plain to grilled or marinated varieties—is contributing to segment expansion.

Report Coverage:

The report provides comprehensive insights into market trends, key growth drivers, and potential hurdles. It emphasizes leading market participants, strategic developments, and competitive dynamics. Additionally, it evaluates product categories, applications, and growth metrics across segments.

Drivers and Restraints:

Canned Tuna Demand Accelerates Due to Cost-Effectiveness and Longevity

Global growth in canned tuna consumption stems from its affordability, long shelf-life, and convenience. Its ability to be stored without refrigeration and transported easily has enhanced its appeal. A growing working demographic has further propelled the demand for processed, ready-to-eat, and ready-to-cook food products.

Regions such as Europe and Asia Pacific are prominent markets for canned tuna, with growing demand also seen in South America and the Middle East. Trends favoring increased seafood consumption—especially processed varieties—are fostering market expansion.

However, a surge in vegetarianism driven by ecological concerns and dietary choices is constraining seafood intake. Plant-based food producers like Beyond Meat and MorningStar Farms are investing in alternatives, potentially impacting tuna market growth.

Regional Insights:

Europe Leads Due to Elevated Seafood Intake

Europe accounted for a notable market share of USD 14.95 billion in 2022. The region’s substantial per capita seafood consumption and organized seafood sector have spurred market demand. Consumers are increasingly drawn to functional foods that support health in fast-paced lifestyles.

For example, in September 2021, John West—a Thai Union Group brand—launched a nutrient-enriched canned tuna line in the U.K. with Energy, Heart, and Immunity variants aimed at young, health-focused buyers.

Competitive Landscape:

Innovation in Product Offerings to Propel Market Expansion

Top industry players are broadening their seafood portfolios to meet shifting consumer preferences. Manufacturers are enhancing product benefits to attract wellness-oriented customers.

In September 2021, John West rolled out a fortified canned tuna series across the U.K., including functional flavors such as Energy, Heart, and Immunity.

LIST OF LEADING ORGANIZATIONS PROFILED IN THE REPORT

• Bolton Group (Italy)
• Century Pacific Foods Inc. (Philippines)
• The Jealsa Rianxeira S.AU. Group (Spain)
• Grupo Albacore S.A. (Spain)
• ITOCHU Corporation (Japan)
• Thai Union Group Inc. (Thailand)
• Dongwon Enterprises Co. Ltd. (South Korea)
• IBL Ltd. (Mauritius)
• FCF Co. Ltd. (Taiwan)
• Sea Delight (U.S.)

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Key Industry Development:

In January 2023, Next Tuna, a startup focused on tuna aquaculture, teamed up with Skretting, a producer of fish feed, to formulate dry feeds specifically tailored for Atlantic Bluefin tuna.

The global   biofertilizers market   was valued at USD 2.53 billion in 2024 and is projected to grow from USD 2.83 billion in 2025 to USD 6.34 billion by 2032, exhibiting a CAGR of 12.21% during the 2025–2032 forecast period. In 2024, North America held the largest share of the market at 30.83%. The U.S. biofertilizers market is poised for strong growth, expected to reach USD 1.28 billion by 2032, fueled by an increasing number of organic farms and government support for sustainable agriculture.

Biofertilizers, also referred to as bioinoculants, are living microorganisms that promote plant nutrition by colonizing the rhizosphere when applied to seeds or soil. Common microbes used include cyanobacteria, nitrogen-fixing bacteria, phosphate-solubilizing bacteria, and molds. These organisms enhance microbial activity in the soil, improving nutrient availability to plants. In addition to increasing crop yield and soil fertility, biofertilizers help protect plants from pests and diseases. Their prolonged effectiveness reduces the need for repeated application, making them a cost-effective alternative to synthetic fertilizers. Since they are primarily derived from natural sources, biofertilizers are more economical to produce and apply, lowering fertilization expenses for both farmers and home gardeners.

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Report Objectives:

This report offers an in-depth analysis of the biofertilizers market, identifying key drivers, restraints, challenges, and growth opportunities. It explores recent trends, industry developments, and other vital insights that are expected to shape market demand over the coming years. The report also includes profiles of key players and outlines their strategies for maintaining competitiveness. For more information, visit the company website.

Drivers & Restraints:

Growing Concerns Over Soil Degradation to Drive Market Expansion

Excessive use of chemical fertilizers like calcium nitrate and monoammonium phosphate has led to widespread soil degradation, decreasing arable land and limiting crop production. This has heightened demand for organic alternatives, boosting the biofertilizers market. Biofertilizers improve plant growth naturally by supplying vital nutrients and enhancing soil health.

Despite their benefits, high production costs remain a challenge, potentially limiting adoption by some farmers. Additionally, biofertilizers tend to have a shorter shelf life and are less adaptable than chemical fertilizers. Nevertheless, increasing government efforts to promote sustainable farming through awareness campaigns and biofertilizer distribution are expected to generate substantial growth opportunities.

Segmentation:

Cereals Segment to Lead Market Due to Strong Demand for Organic Foods

The cereals segment accounted for a 43.74% share of the market, driven by robust demand from both developed and developing countries. This dominance is largely due to the recognized nutritional value of cereals.

Regional Insights:

North America and Europe Dominate, Supported by Widespread Organic Farming

North America and Europe remain key markets for biofertilizers, supported by a high concentration of organic farms in countries such as the U.S. and Mexico. In 2019, North America alone generated USD 470.83 million in revenue. According to the U.S. Department of Agriculture (USDA), the number of certified organic farms and businesses increased by 13% from 2015 to 2016.

In contrast, South America is anticipated to be the fastest-growing region, spurred by the rising popularity of organic products in Brazil and Argentina.

Competitive Landscape:

Key Players Focus on Product Innovation and Strategic Partnerships

Leading companies in the biofertilizers space are expanding their product offerings to strengthen their market positions. In addition, several firms are entering joint ventures and forming strategic partnerships to broaden their reach and boost competitiveness.

Key Players in the Global Biofertilizers Market:

• Monsanto BioAG (Missouri, United States)
• Rizobacter Argentina S.A (Argentina)
• Novozymes A/S (Copenhagen, Denmark)
• Symborg (California, United States)
• Agrinos AS (Oslo, United States)
• Agri Life (Telangana, India)
• Camson Bio Technologies Ltd (Karnataka, India)
• Gujarat State Fertilizers & Chemicals Ltd (Gujarat, India)
• BioWorks Inc. (New York, United States)
• Lallemand Inc. (Montreal, Canada)

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Industry Development:

• June 2019:   Bayer (Germany) and Novozymes (Denmark) announced the extension of their R&D and distribution partnership. As part of this collaboration, Novozymes is set to partner with companies including Univar Solutions (U.S.) and UPL (India) to expand the distribution of biological products.

The global   hydrocolloids market   was valued at USD 9.07 billion in 2019 and is anticipated to expand from USD 17.55 billion in 2020 to USD 13.30 billion by 2032, growing at a CAGR of 5.36% over the forecast period. In 2019, the Asia Pacific region led the market with a 37.93% share. The U.S. hydrocolloids market is expected to grow substantially, reaching approximately USD 2.50 billion by 2032, fueled by the increasing use of hydrocolloids in the production of various food items.

The growth in CAGR is attributed to the resurgence in market demand and expansion as conditions normalize post-pandemic. COVID-19 had an extraordinary global impact, causing a modest decline in hydrocolloid demand across all regions.

Hydrocolloids refer to a varied group of polysaccharides that form gel-like substances when mixed with water. Extracted from sources such as plants, microbes, animals, and seaweed, hydrocolloids have become increasingly popular among manufacturers worldwide. They are extensively used across industries including food and beverages, cosmetics, and pharmaceuticals due to their thickening, gelling, stabilizing, and textural enhancement properties. With rising demand for convenient food options, manufacturers are increasingly incorporating hydrocolloids into processed food products, a trend expected to drive future sales.

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What Does the Report Offer?

This report presents both qualitative and quantitative evaluations of various elements such as key growth drivers and restraints. It also offers regional insights highlighting the contribution of different regions to overall market development. The report covers the competitive landscape, profiling major players and detailing strategies such as partnerships, product launches, and collaborations that enhance market growth. Furthermore, the report utilizes research techniques like Porter’s Five Forces analysis to assess industry trends and developments expected to influence market growth between 2020 and 2027.

DRIVING FACTORS

Rising Demand for Convenient Food Products to Fuel Market Expansion

Growing awareness around clean-label food choices is driving the adoption of natural additives like hydrocolloids. The shift towards healthier and more convenient food options, known for their nutritional benefits, is projected to boost global product adoption. Additionally, health concerns linked to consumption of high-fat foods such as pizzas and burgers are pushing consumers towards more balanced diets, further contributing to the hydrocolloids market’s growth.

SEGMENTATION

Food & Beverages Segment to Capture Largest Market Share

The food and beverages segment is expected to witness notable growth in the coming years. This growth can be attributed to increasing global demand for natural, nutritious food products enriched with hydrocolloids.

REGIONAL INSIGHTS

Asia Pacific to Lead Market Due to Strong Manufacturing Presence

Asia Pacific is anticipated to maintain a leading position in the global hydrocolloids market throughout the forecast period. This dominance is linked to the presence of numerous hydrocolloid manufacturing facilities in countries such as India, China, Thailand, and Indonesia. The region accounted for USD 3.44 billion in 2019.

Meanwhile, North America is expected to experience rapid growth due to rising demand for fortified, convenient food items, which is likely to boost hydrocolloid usage in the region from 2020 to 2027.

COMPETITIVE LANDSCAPE

Key Players Focus on Expanding Production Capabilities to Strengthen Market Presence

The global hydrocolloids market is characterized by a consolidated competitive landscape, with leading companies emphasizing the expansion of their production capacities and development of innovative hydrocolloid solutions to meet rising demand for functional foods. Other prominent players are sustaining their market presence through strategies such as partnerships, product launches, and mergers and acquisitions, all contributing to overall market growth.

Key Companies Profiled in the Global Hydrocolloids Market:

• Kerry Group plc (Tralee, Ireland)
• Koninklijke DSM N.V. (Heerlen, Netherlands)
• Cargill, Incorporated (Minnesota, United States)
• Archer-Daniels-Midland Company (Illinois, United States)
• DuPont de Nemours, Inc. (Delaware, United States)
• Ashland Global Holdings Inc. (Delaware, United States)
• M. Huber Corporation (New Jersey, United States)
• W Hydrocolloids, Inc. (Philippines)
• Ingredion, Incorporated (Illinois, United States)
• Tate & Lyle plc (London, United Kingdom)

Industry Update:

• November 2018: CP Kelco, a division of J.M. Huber Corporation, announced a 15% increase in its pectin production capacity in Denmark. This move aims to meet the surging demand for clean-label ingredients in functional foods and to further reinforce the company’s global market standing.

The global   processed meat market   was valued at USD 519.41 billion in 2019 and is anticipated to reach USD 1101.94 billion by 2032, reflecting a CAGR of 6.06% during the forecast period, according to our analysis. In 2019, North America led the processed meat market, accounting for a 40.83% share. The U.S. market is projected to witness substantial growth, reaching an estimated USD 398 million by 2032, fueled by rising consumer demand for convenient, protein-rich, ready-to-eat, or ready-to-cook meat products.

Market growth is driven by the rising consumption of packaged food and beverages. Techniques such as salting, curing, and smoking enhance the flavor and preserve the quality of these meat products. With a fast-paced lifestyle and a growing number of salaried workers, the demand for ready-to-eat foods has risen, supporting overall market expansion.

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What Does the Report Include?

This report offers a comprehensive quantitative and qualitative analysis of key factors influencing market growth, including drivers and restraints. It also provides regional insights highlighting the areas contributing to market expansion. Additionally, it covers the competitive landscape, detailing leading companies and their strategies, including innovation, partnerships, and collaborations expected to propel market growth from 2019 to 2026. The research methodology involves PESTEL and SWOT analyses to uncover current trends and industry developments that will shape future growth.

Drivers and Restraints:

Rising Demand for Organic Processed Meat Products to Drive Growth

Synthetic food products contain high levels of nitrites and nitrates, which can have harmful health effects and potentially cause cancer. As a result, there is increasing demand for safer, healthier alternatives, boosting the popularity of organic animal husbandry. Organic processed meats contain fewer pesticides, maintain freshness, and offer a longer shelf life compared to synthetic counterparts. Additionally, the rising preference for convenience and ready-to-eat products is encouraging manufacturers to adopt organic options, which is expected to drive global market growth in the coming years.

COVID-19 to Accelerate Product Sales

The global pandemic has significantly impacted economies worldwide, bringing many operations to a halt. Government-imposed lockdowns in various regions have hindered market growth. However, the increased demand for convenient, long-lasting food products due to lockdowns has benefited the processed meat sector. Consumers are turning toward healthy, organic processed meats, which is expected to positively influence the market over the next few years.

Regional Insights:

Strong Demand for Nutritious Convenience Foods in North America to Boost Market Growth

North America held a market value of USD 212.05 billion in 2019 and is projected to maintain the highest revenue share in the global processed meat market throughout the forecast period. This is due to the growing demand for convenience and high-protein meat products, supported by a robust distribution network. Europe is expected to follow, driven by widespread consumption of processed meat in countries such as Italy, Germany, and France.

The Asia-Pacific region is anticipated to experience considerable growth due to rapid urbanization and higher disposable incomes among the working population. The region's increasing adoption of ready-to-eat foods will further support market growth from 2020 to 2027.

Key Companies Operating in the Market:

• Hormel Foods Corporation (United States)
• Conagra Brands Inc. (United States)
• Foster Farms (United States)
• JBS S.A. (Brazil)
• Tyson Foods Inc. (United States)
• Smithfield Foods, Inc. (United States)
• Cargill Incorporated (United States)
• Pilgrim's Pride Corporation (United States)
• The Kraft Heinz Company (United States)
• China Xiangtai Food Co., Ltd. (China)

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Competitive Landscape:

Dawn Farms Acquires Haas GmbH to Meet Rising Demand

In October 2019, Ireland-based meat producer Dawn Farms announced its acquisition of Haas GmbH, a cooked meat producer in Germany. The acquisition aims to establish Dawn Farms' presence in the German market and expand operations beyond Ireland and the UK. CEO Larry Murrin stated, “Our company has served the European market for 25 years, and this acquisition marks a crucial step in establishing our manufacturing presence in Germany and further consolidating our business.”

The global   food service market revenue   was valued at USD 3,486.58 billion in 2024 and is anticipated to increase from USD 4,027.61 billion in 2025 to USD 6,810.86 billion by 2032, reflecting a compound annual growth rate (CAGR) of 7.79% over the forecast period. The U.S. food service market is expected to grow substantially, and it is projected to reach USD 1,767.54 billion by 2030. Additionally, the market size in the U.S. is forecasted to hit USD 1.71 billion by 2032, driven by the expanding number of fast food outlets and rising consumer expenditure on fast food. In 2024, Asia Pacific led the global food service market, holding a 45.71% share.

Food service establishments include any enterprise that prepares and serves food for consumption on the premises, for takeaway, or via delivery. This sector comprises food service retailers, counter and table service providers, and other related businesses. The global market is witnessing a surge in fast food consumption, attributed to higher household incomes, an increasing number of working women, and the convenience offered by fast food services.

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Segments:

By Type, Full Service Restaurants Segment Expected to Gain Momentum Through 2029

Based on type, the market is categorized into quick service restaurants, full service restaurants, institutes, and others. Among these, full service restaurants represent the largest market share, supported by the extensive variety of food items they offer. The growing popularity of family dining experiences is contributing to the rise in the number of these establishments, thereby accelerating segment growth.

By Service Type, Commercial Food Service Segment to Witness Strong Growth Between 2022–2029

By service type, the market is divided into commercial and institutional segments. The commercial segment is anticipated to dominate during the forecast period, fueled by the proliferation of food chains, cafes, restaurants, food trucks, and increased online food ordering. This segment encompasses quick service and full service restaurants, as well as dining out and takeaway services.

Report Coverage:

The report includes:

• Key growth drivers, challenges, opportunities, and constraints.
• In-depth regional market analysis.
• Profiles of prominent industry participants.
• Strategies employed by key companies.
• Recent developments such as product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints:

Growth in Fast Food Chains and Quick-Service Restaurants to Drive Market Expansion

The expansion of the food service market is largely influenced by rising disposable incomes and an increasing number of dual-income households. A growing millennial population and the heightened appeal of fast food chains are key growth factors. The rapid expansion of fast food outlets into emerging markets is expected to drive significant industry growth.

However, lingering impacts of the COVID-19 pandemic may continue to influence market trends to some degree in the future.

Regional Insights:

North America Food Service Market Recorded USD 989.0 Billion in Revenue in 2021

North America held a leading position in the global food service market in 2021, with revenue exceeding USD 989.0 billion. The region’s dominance is attributed to a higher number of dual-income households, increased fast food consumption, and the rising presence of fast food chains. The large millennial demographic and shifting lifestyle habits are also key contributors to market expansion in this region.

Asia Pacific is anticipated to post the highest CAGR from 2022 to 2029, supported by the growing presence of restaurants and fast food chains, particularly in Tier-II and Tier-III cities. Meanwhile, Europe is set to experience steady growth, driven by the increasing number of quick service restaurants, cafes, pubs, and coffee houses.

Competitive Landscape:

Leading Companies Utilize Acquisitions to Strengthen Market Position

During the pandemic, many companies were cautious about entering unstable markets due to uncertainty. As the impact of COVID-19 waned, businesses began to expand into new territories. For instance, Imperial Dade acquired Empire Distributors, expanding its operations to include 91 new distribution centers in the U.S. Similar expansion strategies are being adopted by leading players aiming to enter untapped markets and grow their business presence.

Key Players Highlighted in the Market Report:

• McDonald's (U.S.)
• Starbucks (U.S.)
• Yum! Brands, Inc. (U.S.)
• Darden Restaurants, Inc. (U.S.)
• Restaurant Brands International Inc. (Canada)
• The Wendy’s Company (U.S.)
• Bloomin’ Brands, Inc. (U.S.)
• Papa John's International, Inc. (U.S.)
• Chipotle Mexican Grill, Inc. (U.S.)
• Domino's (U.S.)

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Key Industry Development:

July 2021:   Delivery Hero resumed operations in Germany through its Food Panda brand, marking its return to one of Europe’s largest food service markets.

The global   herbal medicine market revenue   was valued at USD 233.08 billion in 2024 and is projected to grow from USD 251.25 billion in 2025 to USD 437 billion by 2032, registering a compound annual growth rate (CAGR) of 8.23% over the forecast period. Europe dominated the market in 2024, accounting for 44.55% of the global share. The U.S. herbal medicine market is anticipated to witness substantial growth as well, with projections reaching USD 37.90 billion by 2032, fueled by increasing health consciousness and a rising inclination toward natural care solutions driven by environmental concerns.

Herbal medicines are derived from various natural plant parts including roots, stems, leaves, flowers, and seeds, and are used to support overall wellness and treat different health conditions. Popular herbs include ginseng, gingko, turmeric, ginger, and chamomile. For centuries, people have turned to plants for traditional healing practices for both humans and animals, a tradition that continues to drive global demand for herbal remedies.

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Segments:

Pharmaceutical & Nutraceutical Segment Leads Due to Rising Herbal Product Demand

Based on application, the pharmaceutical and nutraceutical segment holds the largest share of the herbal medicine market, largely due to the growing demand for herbal raw ingredients by dietary supplement companies and the alternative medicine industry.

Tablets & Capsules Segment Achieves Notable Share Due to Broad Availability

Regarding form, tablets and capsules represent a significant market share. Their widespread presence in the pharmaceutical sector makes them a favored option for herbal medicines.

Regionally, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

This report provides an in-depth examination of the market, offering detailed insights into major segments. It presents strategies adopted by key players to accelerate growth and includes actionable recommendations for investors. The report also explores regional patterns and assesses the effects of COVID-19 on the herbal medicine sector.

Drivers and Restraints:

Growing Interest in Herbal Ingredients in Cosmetics to Propel Market Expansion

The cosmetics industry presents valuable growth prospects for exporters of organic ingredients from developing regions. With increasing consumer preference for organic beauty products and a gradual shift away from synthetic compounds, the demand for natural ingredients continues to rise—a trend expected to persist during the forecast period.

Regional Insights:

Europe Leads Due to Strong Demand for Organic Products

Europe continues to dominate the market, supported by a well-established cosmetics sector and a growing demand for natural ingredients in personal care and beauty products. This development is expected to open opportunities for new players in the market.

In North America, particularly the U.S., a growing awareness of personal health is encouraging demand for organic care products.

Asia and Latin America are also witnessing fast-paced growth in the cosmetics domain. The rising availability of internet access has contributed to greater awareness of herbal products, thereby increasing the appeal of natural and plant-based remedies.

Competitive Landscape:

Top Companies Focus on Market-Driven Products to Strengthen Market Position

Leading companies are employing various strategies to strengthen their market footprint, such as acquiring other firms to enhance brand visibility and regularly launching new products backed by detailed market research and consumer behavior analysis.

List of Key Players Covered in the Report:

• Cultivator Natural Products Pvt. Ltd. (India)
• 21ST Century HealthCare, Inc. (U.S.)
• Herbalife Nutrition (U.S.)
• ZeinPharma Germany GmbH (Germany)
• Blackmores Limited (Australia)
• Himalaya Global Holdings Ltd. (India)
• Nutraceutical Corporation (U.S.)
• Emami Limited (India)
• Nature's Answer, LLC. (U.S.)
• Patanjali Ayurved Limited (India)

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Key Industry Development:

March 2021:   Indian beauty brand Lotus launched the Lotus Botanicals range. This online platform enables customers to purchase a selection of skin and hair care products either through Lotus Botanicals directly or via third-party e-commerce platforms.