Market Overview:

The global brewing ingredients market size was valued at USD 122.65 billion in 2024. The market is projected to grow from USD 126.99 billion in 2025 to USD 182.97 billion by 2032, exhibiting a CAGR of 5.36% during the forecast period of 2025-2032. Asia Pacific dominated the brewing ingredients market with a market share of 32.53% in 2024.

LIST OF KEY BREWING INGREDIENTS COMPANIES PROFILED:

• American International Foods, Inc. (U.S.)
• RahrBSG. (U.S.)
• Kerry Group plc. (Ireland)
• AngelYeast Co., Ltd. (China)
• Cargill, Incorporated (U.S.)
• Boortmalt N.V. (Belgium)
• Lesaffre (France)
• Viking Malt (Finland)
• Maltexco S.A. (Chile)
• Lallemand Inc. (Canada)

Rising Popularity of Craft Brewing

One of the most influential trends propelling the brewing ingredients market is the surging interest in craft beer . Across North America, Europe, and Asia-Pacific, consumers are turning toward small-batch, artisanal brews that offer unique flavors, high-quality ingredients, and brand authenticity. This shift away from mass-produced beers has sparked demand for specialty ingredients like unique malt varieties, exotic hops, and customized yeast strains.

Craft brewers continually experiment with new ingredients and fermentation methods to create distinctive sensory profiles. As a result, ingredient suppliers are innovating with flavor-specific malt extracts , high-alpha hops, and enzymes that improve brewing efficiency and flavor stability.

Dominance of Malt Extracts in Ingredient Segments

Malt remains the dominant brewing ingredient, particularly in the form of malt extracts , which are widely used in both commercial and home brewing. Barley malt is the most preferred source, but there is rising interest in non-barley malts like wheat, rye, corn, and oats to produce differentiated products and cater to gluten-free consumers.

The report indicates that malt extract usage is growing steadily, especially among small and medium-sized breweries that seek consistency, scalability, and ease of storage. Moreover, specialty malts are enabling brewers to create complex beer styles such as porters, stouts, and sour ales, which younger, urban consumers increasingly favor.

Source: https://www.fortunebusinessinsights.com/brewing-ingredients-market-112480

Growing Demand for Non-Alcoholic and Functional Beers

Another significant driver reshaping the brewing ingredients market is the rising demand for non-alcoholic and low-alcohol beers . Consumers, particularly in Europe and Asia, are opting for beverages that align with health and wellness goals, including lower calories, no alcohol, and added functional benefits.

This trend has pushed ingredient manufacturers to develop functional yeast strains , fermentation inhibitors, and brewing enzymes that reduce alcohol content without compromising taste. Ingredients such as botanical infusions , vitamins, and probiotics are also being integrated into brewing formulations to cater to the wellness-oriented demographic.

Regional Trends and Asia-Pacific Leadership

Regionally, Asia-Pacific emerged as the leading market in 2024 and is expected to grow at the fastest rate throughout the forecast period. This growth is attributed to increasing beer consumption in countries such as India, China, Japan, and Vietnam , along with the expansion of urban middle-class populations and the influence of Western beer culture.

China, in particular, has witnessed a sharp rise in premium and craft beer consumption, prompting local and international brewers to invest heavily in ingredient sourcing and product innovation. India’s beer industry is also evolving, with a significant uptick in microbreweries and flavored beer variants.

North America and Europe remain mature markets but are focusing more on sustainable brewing practices, organic ingredients, and diversification into non-traditional beer products.

Sustainability and Innovation

Sustainability is gaining momentum in the brewing ingredients market. Brewers and ingredient manufacturers are increasingly turning to locally sourced grains , organic farming methods , and eco-friendly packaging to reduce their environmental footprint. Additionally, innovations in enzyme technologies are helping brewers reduce water and energy consumption during production.

Digitalization is also entering the brewing space. Smart brewing systems, AI-based fermentation monitoring, and blockchain-based ingredient traceability are enabling a more transparent and efficient value chain.

KEY INDUSTRY DEVELOPMENTS

• July 2024:  AB Biotek, a subsidiary of AB Mauri, expanded its product portfolio by launching a dry yeast range under its premium brand, Pinnacle. The company launched this product for industrial and craft brewers.
• March 2024:  Far Yeast Brewing Co., Ltd., one of the key brewing products manufacturing companies, renewed its standard brands “Far Yeast Tokyo Series” and “Far Yeast Genryu Series” and relaunched its “Far Yeast Series.” These yeast products are developed for brewing applications.

Market Overview

The U.S. edible oils & fats market size was valued at 32.00 billion lbs in 2024. The market is projected to grow from 33.61 billion lbs in 2025 to 45.60 billion lbs by 2032, exhibiting a growth at CAGR of 4.5% during the forecast period.

List of Key U.S. Edible Oils & Fats Companies Profiled:

• American Vegetables Oils, Inc. (U.S.)
• Bunge Ltd. (U.S.)
• Cargill, Incorporated (U.S.)
• Columbus Vegetable Oils (U.S.)
• Connoils LLC (U.S.)
• Fuji Oil Company, Ltd. (Japan)
• Louis Dreyfus Company (Netherlands)
• Olam International (Singapore)
• The Archer Daniels Midland Company (U.S.)
• Wilmar International Ltd. (Singapore)

Market Composition and Segmentation

1. Vegetable Oils

Vegetable oils represent the largest segment in the U.S. edible oils and fats market. It is widely used across households, restaurants, and food manufacturing due to its neutral flavor, affordability, and high heat tolerance.

Canola oil follows closely, favored for its low saturated fat content and high levels of omega-3 fatty acids. Sunflower, corn, and safflower oils are also increasingly popular, especially among consumers seeking non-GMO, heart-healthy alternatives.

2. Animal Fats

Animal fats, including lard and tallow, have traditionally played an important role in American cooking and baking. However, their popularity declined in recent decades due to health concerns related to cholesterol and saturated fats. Nonetheless, they are making a modest comeback, particularly among those following high-fat diets like keto or paleo. Furthermore, animal fats are increasingly being used in industrial applications such as biofuel production.

3. Specialty and Functional Oils

Oils like olive, coconut, avocado, and grapeseed have seen rising demand in recent years. These oils are typically marketed as premium, healthy, and functional products. Olive oil, rich in monounsaturated fats and antioxidants, is especially popular in Mediterranean-style cooking and among health-conscious consumers. Avocado oil, with its high smoke point and neutral taste, is gaining ground in both culinary and cosmetic uses.

Source: https://www.fortunebusinessinsights.com/u-s-edible-oils-fats-market-112871

Key Market Drivers

1. Health & Wellness Trends

Modern consumers are more aware of how dietary fats impact overall health. This has led to increased demand for oils high in unsaturated fats and free from trans fats. Many households now opt for cold-pressed, unrefined oils that retain more nutrients and antioxidants. Labels highlighting heart health, organic certification, or non-GMO ingredients are also becoming key purchase influencers.

2. Plant-Based and Clean Label Movements

The rise in vegetarian, vegan, and flexitarian lifestyles has contributed significantly to the growth of plant-based oils. Consumers are increasingly avoiding hydrogenated oils and artificial additives, prompting brands to reformulate products and improve ingredient transparency. Clean-label cooking oils and snacks are in high demand, especially among millennials and Gen Z consumers.

3. Biofuel and Renewable Energy Demand

An important but often overlooked driver is the use of edible oils and fats in renewable diesel and biodiesel production Used cooking oil, animal fats, and soybean oil are major contributors to the growing renewable energy market, supported by state and federal incentives.

Market Challenges

While growth prospects remain promising, several challenges persist:

• Price Volatility : Weather patterns, geopolitical tensions, and export restrictions affect the pricing of oilseeds like soybean and canola.
• Sustainability Concerns : The environmental impact of palm oil production and the carbon footprint of large-scale agriculture remain critical issues.
• Supply Chain Disruptions : Global supply chain instability has caused delays and shortages in both raw material sourcing and final product distribution.
• Regulatory Pressure : Stricter regulations on labeling, trans fats, and genetically modified organisms (GMOs) are pushing manufacturers to innovate or reformulate.

Future Outlook

The U.S. edible oils and fats market is expected to grow at a CAGR of around 4.5% between 2025 and 2032. Factors such as the rising popularity of functional foods, growing demand for clean-label products, and the use of oils in non-food applications like cosmetics and bioenergy will further boost the industry.

In the coming years, we can expect:

• Increased adoption of precision agriculture and biotech for higher oilseed yields.
• Continued shift toward organic and specialty oils.
• Innovation in fat-alternative technologies, such as structured lipids or plant-based emulsifiers.

KEY INDUSTRY DEVELOPMENTS

• October 2023:  Louis Dreyfus Company (LDC), a Netherlands-based agriculture merchant, announced the construction of a new soybean processing plant in Upper Sandusky, Ohio. The facility will integrate crushing, vegetable oil refining, lecithin production, and packaging capabilities. As a result, the plant will strengthen LDC’s core merchandising capabilities by adding capacity to process U.S. soy into value-added products such as edible oils and lecithin.

Market Overview

The China food service market size was USD 454.80 billion in 2022. The market is projected to grow from USD 504.52 billion in 2023 to USD 1,061.16 billion by 2030, exhibiting a CAGR of 11.21% during the forecast period.  Fortune Business Insights™  shares this information in its report titled “ China Food Service Market, 2023-2030. ”

China is a fast-paced growing country in the food service sector owing to its consumer base capturing the majority of the share in food and beverages consumption. The usage of new technology such as using e-menus, online reservations, mobile ordering, and payment apps is projected to assist in market development. With international market players have been focusing on expanding their businesses in China, the market offers prosperous growth opportunities.

List of Key Players Profiled in the Market Report

• McDonald's (U.S.)
• Starbucks (U.S.)
• Ajisen Holding Limited (China)
• Restaurant Brands International Inc.(Canada)
• China Quanjude (Group) Co. Ltd.(China)
• Dominos (U.S.)
• KFC Corporation (U.S.)
• Yum! Brands, Inc (U.S.)
• Tim Hortons (Canada)
• Yoshinoya Holdings Co., Ltd. (Japan)

Segmentation

On the basis of type, the market is divided into full service restaurants, quick service restaurants, institutes, and others.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Source: https://www.fortunebusinessinsights.com/china-food-service-market-107657

Drivers and Restraints

Increasing Demand For Prepared Food To Drive Market Enhancement

Increasing demand for prepared food is anticipated to drive China food service market growth. The demand for prepared foods has rapidly increased in China as they save time and effort for working professionals. Advantages such as Ease of use, functionality, quick delivery, and high nutritional value are propelling the growth of the market. Furthermore, the rise in demand for more premium and nutritious ready-to-eat foods made for foodies. Hence, increased consumption of prepared food drives the growth of the food service market

However, increasing preference for ethnic cuisines over international cuisines is hampering the market growth.

Competitive Landscape

Targeted Marketing Campaigns By Key Players To Drive Market Edge

In terms of the competitive landscape, the market has the presence of established and emerging food service companies. Some of the major players who hold the largest part in the China food service market share have been using targeted marketing campaigns such as the Fruit and Vegetables 100+ program launched by Yum! China with the aim to promote balanced diets and healthy lifestyles. Furthermore, the brand introduces new food items which are integrated with the traditional cuisines of a particular region. The food products offered are targeted mainly towards the local food enthusiast looking forward to enjoying new and flavorful food offerings.

Key Industry Development

• January 2022-  Starbucks partnered with China's Meituan to serve its Chinese customers to order coffee delivery using the super-app platform. The motive of the company is to expand delivery services in China.

Market Overview

According to Fortune Business Insights, the Asia Pacific processed meat market size was valued at USD 34.68 billion in 2024. The market is projected to grow from USD 36.33 billion in 2025 to USD 59.31 billion by 2034, exhibiting a CAGR of 5.60% during the forecast period.

Processed meat refers to meat that has been preserved through salting, curing, smoking, fermentation, or other techniques to enhance its shelf life and flavor. Common examples include sausages, ham, bacon, canned meat, meat snacks, and frozen meat products.

In the Asia Pacific Processed Meat Market , the market for processed meat has evolved considerably, transitioning from being a niche segment to a mainstream category in both urban and semi-urban areas. The rise in modern retail infrastructure, coupled with an increasingly time-starved population, has driven demand for protein-rich, easy-to-prepare meat products.

List of Key Processed Meat Companies in Asia Pacific Profiled:

• Nichirei Corporation (Japan)
• NH Foods Ltd. (Japan)
• JBS S.A. (Brazil)
• CJ CheilJedang Corporation (South Korea)
• ITOHAM YONEKYU HOLDINGS, INC. (Japan)
• Hormel Foods Corporation (U.S.)
• WH Group Limited (China)
• Daesang Corporation (South Korea)
• Charoen Pokphand Foods Public Company Limited (Thailand)
• Ajinomoto Co., Inc. (Japan)

Key Growth Drivers Asia Pacific Processed Meat Market

1. Urbanization and Changing Lifestyles

One of the most prominent drivers of the processed meat market in Asia Pacific is the rapid urbanization occurring across the region. As more people migrate to urban centers for employment, their lifestyles and eating habits are transforming. The demand for quick, convenient, and nutritious food options has significantly increased, giving a major boost to processed meat products.

2. Rise in Middle-Class Income

The expanding middle class in countries like India, China, Vietnam, and Indonesia is fueling the consumption of premium food items, including processed meat. With growing awareness of protein-rich diets and higher purchasing power, consumers are more willing to invest in packaged food, especially meat-based snacks and meals.

3. Expansion of Modern Retail and E-commerce

The growth of supermarkets, hypermarkets, and online grocery platforms has greatly enhanced product availability and consumer access to processed meat. Cold chain logistics and efficient distribution networks ensure quality retention and timely delivery, further strengthening consumer trust and brand loyalty.

4. Product Innovation and Diversification

Manufacturers in the region are heavily investing in R&D to introduce new product lines, including low-fat , organic , gluten-free , and plant-based alternatives to traditional processed meats. These innovations cater to evolving health-conscious consumers, especially millennials and Gen Z populations seeking better-for-you meat products.

Source: https://www.fortunebusinessinsights.com/asia-pacific-processed-meat-market-112733

Emerging Trends in the Asia Pacific Processed Meat Market

1. Rise of Health-Conscious Meat Products

With increasing concern over obesity, heart diseases, and lifestyle-related disorders, consumers are more aware of what they eat. The demand for nitrate-free , additive-free , and low-sodium processed meats is on the rise. Companies are responding by launching clean-label, high-protein products that align with health and wellness goals.

2. Premiumization of Processed Meat

In urban centers like Tokyo, Seoul, and Shanghai, there is a growing preference for gourmet and premium processed meat items. Products such as grass-fed beef jerky, artisanal sausages, and hormone-free deli meats are gaining popularity among affluent consumers.

3. Growth in Frozen and Ready-to-Eat Segments

Frozen meat products and ready-to-eat (RTE) meals are gaining traction due to their long shelf life and minimal preparation requirements. The COVID-19 pandemic further accelerated this trend, and it has persisted even post-pandemic due to hybrid work cultures and home-based cooking habits.

4. Demand for Sustainable Packaging

Sustainability is a rising concern, and many consumers are actively seeking brands that use eco-friendly, recyclable, or biodegradable packaging . Producers adopting green packaging practices are gaining a competitive advantage in the market.

Challenges to Asia Pacific Processed Meat Market Growth

Despite the promising outlook, the Asia Pacific processed meat market faces several obstacles:

• Regulatory Complexity : Different countries in the region have varying food safety standards, labeling requirements, and import-export regulations, creating complexities for manufacturers operating across borders.
• Health Concerns : Negative consumer perception regarding artificial preservatives, sodium content, and potential health risks associated with processed meat continues to impact the market.
• Cultural Preferences : In countries like India, a large portion of the population is vegetarian or prefers specific meat types due to religious or cultural beliefs, limiting overall meat consumption.
• Competition from Plant-Based Alternatives : The rise of the plant-based meat industry presents a strong competitive threat, especially among health-focused and environmentally conscious consumers.

Country-Level Highlights

• China : The largest market in Asia Pacific, driven by vast urban populations and high pork consumption. Domestic producers and international brands are actively competing for market share.
• India : Though meat consumption per capita is lower compared to other nations, the growing youth demographic and rising demand for frozen and ready-to-cook meals are encouraging processed meat growth.
• Japan and South Korea : Mature markets with high demand for convenience foods and premium meat products. Innovation and product differentiation are key to success here.
• Southeast Asia : Countries like Vietnam, Thailand, and the Philippines are emerging as high-potential markets due to rapid urban development and young populations.

Future Outlook

The future of the Asia Pacific processed meat market is promising, with growth underpinned by consumer demand for convenience, protein, and innovation. Companies that can offer clean-label, health-oriented, and culturally adapted meat products stand to gain a significant edge.

Investments in cold chain infrastructure , e-commerce logistics , and sustainable practices will further shape the competitive landscape. Additionally, strategic partnerships between global food brands and local players will facilitate deeper market penetration and localization.

KEY INDUSTRY DEVELOPMENTS:

• June 2024:  Daesang Corporation expanded its food production capacity in Vietnam to meet the growing local demand for Korean cuisine. The company invested approximately USD 22 million to enhance its production facilities, specifically targeting two plants in northern Vietnam, one in Hai Duong and the other in Hung Yen.

Market Overview

The Japan Food Service market size was valued at USD 214.35 billion in 2022. The market is projected to grow from USD 236.29 billion in 2023 to USD 475.46 billion by 2030, exhibiting a CAGR of 10.50% during the forecast period.  Fortune Business Insights™  shares this information in its report titled “ Japan Food Service Market, 2023-2030. ”

Food service is about food and beverages being consumed outside the home or ordered at home through food-serving establishments and Japan is one of the biggest countries in the food service industry in its region. Strong presence of the service in cities such as Tokyo and Osaka due to increasing number of restaurants is projected to assist in market development. The country’s industry is highly competitive in national and international level.

List of Key Players Profiled in the Market Report

• McDonald's (U.S.)
• Starbucks (U.S.)

• Plenus Co., Ltd (Japan)
• Zensho Holdings Co.(Japan)
• Tori doll Holdings Corp.(Japan)
• Dominos (U.S.)
• KFC Corporation (U.S.)
• Yum! Brands, Inc (U.S.)
• Skylark Co., Ltd. (Japan)
• Tully's Coffee Japan Co. Ltd. (Japan)

Segmentation

On the basis of type, the market is divided into full service restaurants, quick service restaurants, institutes, and others.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Source: https://www.fortunebusinessinsights.com/japan-food-service-market-107650

Drivers and Restraints

Increasing Automation in the Food Sector to Drive Market Enhancement

Increasing automation in the food sector is anticipated to drive Japan food service market growth. Japanese food service operators are adopting innovative ideas in their restaurants such as the influence of cross cultural cuisine and robotics themes. Incorporating technology in the food and beverage industry plays a vital role as companies continuously try to improve productivity and identify substantial areas for research and development. Additionally, increasing awareness of the consumers of QSRs is also expected to drive the Japan food service market growth.

However, strict and complex government policies and regulations in food and beverage categories is hampering the Japan food service market share.

Competitive Landscape

Key Players Offering Ethnic Japanese and Korean Cuisine in Their Products to Drive Market Edge

In terms of the competitive landscape, the market has a strong presence of established and emerging companies. Some food service providers offer Japanese and Korean ethnic foods, and Western cuisine. The Japanese market has Starbucks, KFC Corporation, and Yoshinoya Holdings are the market players. Tully's Coffee Japan Co. Ltd and Yum! Brands, Inc., and Starbucks have been regularly engaging in innovations and using branding to increase its presence in the market. In April 2021, Starbucks Japan launched a new seasonal drink, the Chai Chocolate Frappuccino which is a drink with a chocolate base and gentle spices added.

Key Industry Development

• August 2022-  Starbucks launched a new fall drink called the Marrone "Cassis Frappuccino" which is a beverage combining chestnuts and cassis with signature coffees of Starbucks from all over Japan.

Market Overview

The India biofertilizers market size was USD 99.59 million in 2021. The market is expected to grow from USD 110.07 million in 2022 to USD 243.61 million by 2029, exhibiting a CAGR of 12.02% during the forecast period. The impact of COVID-19 pandemic has been unprecedented and staggering, with biofertilizers experiencing lower-than-anticipated demand across India compared with pre-pandemic levels.  Based on our analysis, the market exhibited a growth of 7.66% in 2020 as compared to 2019.

List of Key Market Players:

• UPL Limited (Mumbai, India)
• Novozyme (Bagsvared, Denmark)
• Gujarat State Fertilizers & Chemical Ltd. (Gujarat, India)
• Rallis India Limited (Mumbai, India)
• FMC Corporation (Pennsylvania, U.S.)
• National Fertilizers Limited (Noida, India)
• Indian Farmers Fertilizer Cooperative Limited (New Delhi, India)
• Madras Fertilizers Limited (Chennai, India)
• Stanes and Company Limited (Tamil Nadu, India)
• Agrinos (California, U.S.)

Segments

Type, Microorganism, Application, and Crop Type are Studied

Based on type, the market is segmented into phosphate solubilizers, nitrogen-fixing, and others. Based on microorganisms, the market is fragmented into VAM, Bacillus, Pseudomonas, Azospirillum, Azotobacter, Rhizobium, and others. Based on application, the market is divided into soil treatment, seed treatment, and others. Based on crop type, the market is classified into fruits & vegetables, pulses & oilseeds, cereals, and others.

Source: https://www.fortunebusinessinsights.com/india-biofertilizers-market-106527

Report Coverage

• It assesses various restraints and drivers of the market’s growth.
• It provides a detailed analysis of critical market segments such as type, microorganism, application, and crop type.
• It features an analysis of the COVID-19 pandemic’s effect on the market.
• It incorporates SWOT Analysis and Porter's Five Forces Analysis for accurate prediction.
• It includes the latest industry developments.

Drivers & Restraints

Growing Awareness for Chemical Agri-inputs’ Side Effects to Fuel Market Growth

The soaring food demand due to the exponentially increasing Indian populace is anticipated to be a key factor boosting the India biofertilizers market growth. The growing awareness of the harmful effects of agricultural chemical inputs such as chemical fertilizers fuels the product adoption. This is expected to aid the market growth.

Moreover, the use of chemical agri-inputs increases soil and water contamination. This is likely to boost the adoption of modern techniques and technological advancements and stimulate market growth in the forthcoming years.

Lastly, the growing demand for sustainable agri-inputs is expected to aid the market growth. The increasing demand for clean, organic food is likely to fuel sustainable organic farming, and thus increase the demand for sustainable agri-inputs. Biofertilizers improve soil’s chemical and physical properties and also address climatic change issues. They are best suited for sustainable agriculture, which will complement the market growth.

However, a few financial, infrastructural, and technological constraints may impede the market growth.

Regional Insights

Increasing Government Efforts to Aid Market Growth

The farmers in India are increasingly adopting lucrative, credible, and cost-effective production methods and inputs for agricultural commodities. Adopting a sustainable and effective alternative to toxic chemical-based fertilizers is expanding India's biofertilizers market share. The increasing state and central government’s efforts to boost product usage aid the market growth. Moreover, the growing adoption of organic farming, coupled with the ever-increasing population, stimulates market growth. Additionally, the growing brand promotion and increasing new product launches by key market players are anticipated to fuel the market growth.

Competitive Landscape

Key Players Launch New Products to Amplify Their Market Presence

The market is fairly fragmented and comprises several key players dominating the marketplace. A huge client base, robust distribution networks, and exemplary brand loyalty help the market players in the market. They adopt inorganic and organic strategies such as collaborations with the government and relevant stakeholders to expand their market presence. They also emphasize new product launches and technological developments among other strategies to amplify their penetration in the market. For instance, a new eco-friendly liquid biofertilizer was introduced by Bihar Agricultural University’s scientists in June 2020. The new liquid biofertilizers can improve crop yield by more than 20%.

Industry Development

In March 2022, the Mosaic Company and BioConsortia, Inc. entered into a new agreement to develop and launch nitrogen-fixing microbial products in China, India, Thailand, and Vietnam.

Market Overview -

The global tequila market size was valued at USD 11.04 billion in 2023 and is projected to grow from USD 11.69 billion in 2024 to USD 18.58 billion by 2032, exhibiting a CAGR of 5.97% during the forecast period. North America dominated the tequila market with a market share of 62.14% in 2023.

 Tequila is a distilled spirit from Mexico made from the juices of the Weber blue agave plant. According to the International Wine and Spirit Research (IWSR), blue agave plant distilled beverage has been the category's second-fastest-growing spirit in recent years, says Fortune Business Insights ^TM in its report titled, “Tequila Market, 2024-2032”.

List of Key Market Players:

• Pernod Ricard S.A. (France)
• Diageo Plc (U.K.)
• Bacardi Limited (Bermuda)
• Suntory Holdings Limited (Japan)
• Heaven Hill Distilleries, Inc. (U.S.)
• Campari Group (Italy)
• Sazerac Company Inc. (U.S.)
• Brown-Forman Corporation (U.S.)
• Casa Aceves (México)
• Constellation Brands, Inc. (U.S.)

Segmentation-

By Type, Blanco to Account for Major Market Share 

On the basis of type, the market is divided into blanco, reposado, anejo, and others. Blanco variants account for a sizable portion due to their earthy, semi-sweet, distinct agave flavor. Its smoother taste and wide availability result in widespread consumption. The widespread use of blanco variants in various cocktails such as margaritas and Palomas contributes to the market's dominance.

By Grade, Premium Variant to be Leading Segment

The premium variant will lead the tequila market share as consumers demand high-quality craft spirits. The premium-grade spirit combines desirable characteristics that consumers value, such as sensory appeal, mouthfeel, and texture. The demand for such luxury spirit variants is primarily driven by millennials and young adults.

By Distribution Channel, On-Trade Sales to be the Major Distribution Channel

The on-trade sales channel is one of the most prominent alcohol sales channels, and it is expected to dominate the market share. Consumers prefer quick servings, entertainment, and ambiance in developed economies, driving on-trade sales. However, the off-trade channel is expanding rapidly because purchasing alcohol from supermarkets, and brick-and-mortar stores is much more cost-effective.

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

Report Coverage-

The market research report contains both qualitative and quantitative information about the market. It also provides a detailed analysis of the market size and growth rate for all possible market segments. The key insights presented in the tequila market report are an overview of related markets, recent industry developments such as mergers and acquisitions, the regulatory scenario in critical countries, and key industry trends.

Source: https://www.fortunebusinessinsights.com/tequila-market-104172

Drivers & Restraints-

Market Growth is driven by Consumers' interest in New Flavors and Exotic Tastes

One of the major factors driving demand for blue agave plant-based distilled spirits is the growing popularity of various artisanal spirits among consumers worldwide. Consumers worldwide want fresh and delicious exotic drinks with a distinct flavor, propelling the market growth. However, in recent years, as we have seen an increase in spirits consumption, particularly in developing regions, developed countries have predicted a shift in consumer preferences toward low and no alcoholic beverages. Their growing awareness of the negative effects of alcohol consumption has led them to seek out low or no alcohol drinks that taste just like alcoholic beverages but without the negative consequences. This factor may impede the tequila market growth.

Regional Insights-

North America Held the Dominant Position in the Market

North America dominated the market in 2021, with a market value of USD 6.09 billion. This is due to a growing consumer preference for agave-based spirits in the U.S. and Mexico. According to the Distilled Spirits Council of the U.S., agave-based spirits sales will increase 30.1% to USD 5.2 billion in 2021.

The European market is expected to grow significantly due to the increasing popularity of artisanal spirits in Germany, Spain, and the U.K. with its craftsmanship, heritage, and protected status, tequila is well-positioned to benefit from the region's popularity of craft spirits, where more drinkers are looking to 'drink better and turning to premium brands.

In the Asia Pacific, the spirit has gained popularity among consumers, particularly millennials in China and Australia. Increased imports and consumers seeking quality over quantity and preferring small-batch spirits have fueled the market growth.

Alcohol consumption is increasing in Latin American countries such as Brazil and Argentina, which will likely contribute to the region's overall performance. Premiumization and innovation trends in white spirits are observed in the Middle East and Africa, supporting tequila market growth.

Competitive Landscape-

To Remain Competitive, Companies Need to Introduce New Variants

Due to the product's extensive production in Mexico and the United States, the market is moderately consolidated. Along with this, prominent players are innovating and launching products worldwide. Companies like Bacardi & Company Ltd., Diageo Plc, and Pernod Ricard S.A. focus on new product development and increasing exports to diversify their product portfolio and maintain a competitive advantage.

Notable Industry Development-

February 2022: Avión Reserva Cristalino Tequila has been added to Pernod Ricard's Avión portfolio. The company has created a product that honors every step of its production process from field to bottle, highlighting the uniqueness of its terroir, the character of agave, the purity of distillation, and the delicate relationship with wood during aging.

Market Overview:

The global canned meat market size was valued at USD 32.49 billion in 2024. The market is projected to grow from USD 33.93 billion in 2025 to USD 46.86 billion by 2032, exhibiting a CAGR of 4.72% during the forecast period. North America dominated the canned meat market with a market share of 31.17% in 2024. Moreover, the canned meat market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 11.80 billion by 2032, driven by increasing demand for convenience food products and strong demand for animal protein.

Canned meat is considered as a convenient food as it requires minimum cooking time, which is the best alternative for people with busy lifestyles. The key market players grow their product line by introducing products in local and international markets with a good taste of the food.

Fortune Business Insights™  mentioned this in a report titled  “Canned Meat Market, 2025-2032.”

List of Key Market Players Profiled in the Report:

• Hormel Foods Corporation (U.S.)
• Tyson Foods, Inc. (U.S.)
• Bolton Group (Italy)
• Smithfield Foods, Inc. (U.S.)
• Vion Group (Netherlands)
• Conagra Brands Inc. (U.S.)
• McCallum Industries (New Zealand)
• Keystone Meats (U.S.)
• Werling & Sons, Inc. (U.S.)
• JBS SA (Brazil)

Segmentation:

Bacon Segment Dominates the Market Growth Owing to its Nutritional Benefits

On the basis of product type, the market is segmented into corned beef, bacon, sausage, luncheon meat, ham, and others. Among all the segments, bacon dominates the market as its demand increases due to its nutritional benefits and high-quality products, such as vitamins, protein, and minerals. It is the easily absorbed form of dietary iron and the best source of zinc, which is important for proper immune functioning.

Hypermarkets/Supermarkets to Lead the Market Growth Owing to Increased Sales of Canned Meat

Based on distribution channel, the market is divided into specialty sstores, online retail, supermarkets/hypermarkets, and others. The supermarkets/hypermarkets dominated the market in 2022 and are anticipated to continue their dominance during the projected period. The dominance is due to the easy availability of products with various brands at a lesser cost.

Source: https://www.fortunebusinessinsights.com/canned-meat-market-106372

Report Coverage:

The report offers:

• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Recent industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints:

Transparent Food Labelling and Sustainable Packaging to Augment Market Growth

As customers become more aware of what is added to their food, transparent labeling and consumer awareness-related product labeling have become the new trend in the processed food sector. Food packaging with transparent labels is expected to increase at a promising rate in the future. Consumer preferences for products with clear, transparent labels present meat producers with profitable potential to expand their product lines with labeled items, augmenting the canned meat market growth during the projected period.

Increasing demand for plant-based meat has surged the number of producers for the product hindering the canned meat market share.

Regional Insights:

North America to Dominate Due to the Increased Adoption of Canned Meat

North America dominated the market share in 2022 owing to the increasing demand and adoption of product in countries such as Mexico, the U.S., and Canada. It is anticipated to continue its dominance during the projected period. The region has the presence of the largest retail market for canned meat products,

In Europe, the consumption of the product majorly depends upon meat production and intra-EU trade. Countries such as Switzerland, Spain, Russia, Norway, Netherlands, Italy, Germany, France, Denmark, and Austria have the highest demand for canned products.

Competitive Landscape:

Key Players in the Market are Inclined towards the Expansion of Businesses in New Geographies to Gain Traction

The global market comprises local players, and the number of local players is more than that of international players. Considering the rising demand for canned meat, market players are going to the international market. The key players in the market include Hormel Foods Corporation, Bolton Group, and Tyson Foods, which are focusing on business expansion to stay competitive in the market.

Key Industry Development:

• November 2022:  Smithfield Europe agreed to acquire Goodies Meat Production SRL, a manufacturer of private-label packaged meat products, for the retail channel. The company operated the production facility in Ceptura de Jos, Prahova. Its product portfolio includes salami, ham, bacon, and others. This acquisition is expected to help Smithfield Europe strengthen its existing market business.

• March 2022:  Smithfield Foods, Inc. introduced a new product under its brand named ‘Carando.’ It introduced a sweet Italian sausage with traditional Italian spices and 100% pork. The new venture augments its sausage portfolio to continue bringing the bold and traditional flavors consumers demand.

Market Size:

The global non-alcoholic spirits market size was valued at USD 336.46 million in 2024. The market is projected to grow from USD 356.38 million in 2025 to USD 624.56 million by 2032, exhibiting a CAGR of 8.35% over the forecast period. Europe dominated the non-alcoholic spirits market with a market share of 44.57% in 2024.

the  non-alcoholic spirits market  has experienced significant growth, driven by changing consumer preferences towards healthier lifestyles and mindful drinking. With more people opting for low or no-alcohol alternatives, the industry has responded with innovative, sophisticated beverages that mimic the taste and experience of traditional spirits, without the alcohol.

List of Key Non-Alcoholic Spirits Companies Profiled:

• Diageo plc (U.K.)
• Lyre’s (U.K.)
• Everleaf (U.K.)
• V9 Beverages Pvt. Ltd. (India)
• Spiritless Inc. (U.S.)
• Wilderton (U.S.)
• THE FREE SPIRITS COMPANY (U.S.)
• SOBRII (Canada)
• Seadrift Distillery Non-Alcoholic Spirits (Australia)
• BARE Zero Proof Spirits Inc. (U.S.)

What Are Non-Alcoholic Spirits?

Non-alcoholic spirits are distilled or crafted beverages designed to replicate the flavors and aromas of traditional spirits like gin, whiskey, rum, and vodka but contain little to no alcohol (typically less than 0.5% ABV). These drinks often use botanicals, spices, and herbs to create complex flavor profiles, making them a popular choice for those who want to enjoy cocktails without the effects of alcohol.

Source: https://www.fortunebusinessinsights.com/non-alcoholic-spirits-market-110283

Report Scope & Segmentation:

Segments Covered: By Product Type (Whiskey, Rum, Gin and Aperitif, Vodka, and Others), By Category (Conventional and Artisanal), By Type (Original and Flavored), By Price (Value, Premium, and Super Premium), By Distribution Channel (On-Trade and Off-Trade {Supermarket/Hypermarket, Convenience Stores, Liquor Stores, Online Retail, and Others})

Regional Scope: North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Key Drivers of Market Growth

Several factors are fueling the expansion of the non-alcoholic spirits market:

1. Health and Wellness Trends  – Consumers are becoming more health-conscious, reducing alcohol intake to improve sleep, mental clarity, and overall well-being.
2. Sober-Curious Movement  – Many people, especially younger generations, are exploring sobriety or moderation, leading to increased demand for alcohol-free alternatives.
3. Improved Product Quality  – Early non-alcoholic options were often criticized for poor taste, but modern brands like  Seedlip, Lyre’s, and Ritual Zero Proof  have elevated the category with premium offerings.
4. Social and Cultural Shifts  – Bars and restaurants now offer dedicated non-alcoholic menus, reducing the stigma around not drinking.

Market Trends and Innovations

• Craft and Artisanal Options  – Small-batch producers are entering the market with unique, high-quality blends.
• Functional Ingredients  – Some brands incorporate adaptogens, vitamins, and nootropics for added health benefits.
• Sustainability  – Eco-conscious packaging and ethically sourced ingredients appeal to environmentally aware consumers.

Challenges in the Industry

Despite its growth, the non-alcoholic spirits market faces hurdles:

• High Prices  – Premium ingredients and complex production processes make these products more expensive than traditional spirits.
• Consumer Perception  – Some still associate non-alcoholic drinks with inferior taste, requiring continued education and sampling opportunities.

Future Outlook

The  global non-alcoholic spirits market  is projected to grow steadily, with increasing investment from major beverage companies and startups alike. As innovation continues and consumer acceptance rises, non-alcoholic spirits are set to become a permanent fixture in bars, retail shelves, and home cocktail setups worldwide.

KEY INDUSTRY DEVELOPMENTS:

October 2024:  Non-alcoholic ‘spirits’ brand Caleño introduced new market rum flavors specifically targeting younger consumers. The new product range includes White Coconut, Mango, and Passion Fruit Rum.

Market Size and Growth Rate

The algae products market is emerging as a key player in the global bioeconomy, offering sustainable solutions across diverse industries. From food and pharmaceuticals to cosmetics, animal feed, and biofuels, algae-based products are increasingly gaining attention due to their nutritional richness, renewable nature, and eco-friendly profile. As the demand for plant-based and sustainable ingredients grows, algae is being seen as a versatile resource with high commercial value.

The global algae products market size was valued at USD 41.88 billion in 2024. The market is projected to grow from USD 44.39 billion in 2025 to USD 70.28 billion by 2032, exhibiting a CAGR of 6.78% during the forecast period. Asia Pacific dominated the algae products market with a market share of 53.25% in 2024.

Key Companies in the Algae Products Market

Some of the leading players driving innovation in this space include:

• Koninklijke DSM N.V. (Netherlands)
• BASF SE (Germany)
• Cyanotech Corporation (U.S.)
• Cargill Inc. (U.S.)
• The Archer-Daniels-Midland (U.S.)
• Fuji Chemical Industries Co., Ltd. (AstaReal Co., Ltd.) (Japan)
• MiAlgae Ltd (U.S.)
• Corbion N.A. (Netherlands)
• Algenol Biotech (U.S.)
• Algae Systems, LLC (U.S.)

These companies are focusing on R&D, mergers, and strategic partnerships to enhance production capacity, improve algae strains, and develop value-added products.

What Are Algae Products?

Algae products are derived from microalgae (e.g., spirulina, chlorella, and dunaliella) and macroalgae (seaweeds like kelp and nori). These algae are cultivated in freshwater, marine, or brackish water environments and processed into various forms such as powders, capsules, oils, and extracts.

Popular algae products include:

• Spirulina and Chlorella supplements
• Algal oil (rich in Omega-3)
• Algae-based biofuels
• Hydrocolloids (e.g., agar, alginate, carrageenan)
• Cosmetic ingredients (antioxidants, anti-aging compounds)

Source: https://www.fortunebusinessinsights.com/algae-products-market-112830

Key Drivers of Market Growth

1. Nutritional Superiority

Algae are rich in proteins, vitamins, minerals, and essential fatty acids such as Omega-3 DHA and EPA . This makes them ideal for health supplements, especially in vegan and vegetarian diets , where traditional sources like fish oil are not preferred.

2. Sustainability and Environmental Benefits

Algae cultivation requires minimal land, freshwater, and fertilizers , and it actively absorbs CO₂ from the atmosphere. This makes it a climate-friendly resource compared to traditional crops or animal-based sources.

3. Growth of the Vegan and Functional Food Movement

As more consumers adopt plant-based diets , algae products like spirulina, chlorella, and seaweed are gaining popularity in smoothies, protein bars, snacks, and even dairy alternatives.

4. Cosmetic and Personal Care Applications

Algae-derived ingredients are increasingly used in skincare and personal care products for their hydrating, detoxifying, and anti-aging properties. Brands are incorporating marine ingredients into cleansers, creams, masks, and serums.

5. R&D in Biofuels and Bioplastics

Algae-based biofuels and biodegradable plastics are being explored as alternatives to fossil fuels and petroleum-based products, especially in Europe and North America where regulations encourage greener solutions.

Leading Market Segments

By Source:

Macroalgae

      Chlorophyta (Green)

      Rhodophyta (Red)

      Phaeophyta (Brown)

Microalgae

       Spirulina

       Chlorella

      Others

By Application

• Food & Beverages
• Animal Feed
• Nutraceutical & Dietary Supplements
• Others

By Region:

• North America: A mature market with strong demand in supplements and nutraceuticals.
• Europe: Focused on clean label and sustainable ingredients.
• Asia-Pacific: The fastest-growing region due to the traditional use of seaweed and government support for algae farming.
• Latin America & MEA: Emerging regions with increasing awareness and market entry.

Current Trends in the Algae Industry

• Omega-3 Fortification : Algae-sourced Omega-3 is now used in infant formula, functional foods, and heart health supplements.
• Blue-Green Algae in Beverages : Smoothies and wellness drinks are now using spirulina and chlorella for their detoxifying benefits.
• Seaweed Packaging : Biodegradable packaging made from seaweed is gaining interest as a plastic-free solution.
• Precision Fermentation : Biotech startups are using synthetic biology to create customized algae strains for pharmaceuticals and ingredients.

Challenges Facing the Market

While the growth outlook is strong, the industry also faces a few challenges:

• High Production Costs : Algae cultivation and extraction require advanced infrastructure and energy.
• Scalability : Large-scale commercial production is still in early stages for certain applications like biofuels.
• Regulatory Hurdles : Food safety regulations and labeling requirements vary across regions.

Future Outlook

The future of the algae products market is promising, especially as industries move toward sustainable, functional, and plant-based solutions . Technological advancements in algae cultivation, biotechnology, and extraction techniques will unlock new applications and improve cost efficiency. From alternative protein to eco-friendly packaging, algae are poised to play a pivotal role in the circular economy.

Key Industry Developments

• September 2024  – Two U.S. companies, Algae Cooking Club and Spotlight Foods, launched innovative cooking oils derived from microalgae, marking a significant advancement in sustainable food technology. Both companies utilize a fermentation process where microalgae are fed plant based sugars from sugarcane in large tanks, converting them into edible oil within a few days. This method is designed to minimize resource use compared to traditional vegetable oils.