Market Overview

The global confectionery market was valued at USD 206.97 billion and is expected to grow to USD 278.36 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.36% from 2024 to 2032. Europe led the market in 2023, accounting for a 38.38% share. The U.S. confectionery market is also set to experience notable growth, projected to reach approximately USD 36.09 billion by 2032. This growth is fueled by rising consumer interest in artisanal confectionery and the development of new production facilities across the region.

Rising health consciousness among consumers will play a key role in augmenting the growth of this market, shares Fortune Business Insights™ in its recent report, titled “ Confectionery Market Size, Share & Industry Analysis, By Type (Chocolate, Sugar, and Gums), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Departmental Stores, and Online Retails), and Regional Forecast, 2024 – 2032 ”.

Chocolate bars and candies usually have a lot of artificial sweeteners. Because health problems related to lifestyle are on the rise, even people who love chocolate choose products with organic and natural ingredients. For example, a study by a Swiss chocolate company found that the value of organic chocolates in Western Europe is €30 million. This change in what people want will soon affect the chocolate market.

List of Key Players Covered in the Report:

• Super Confectionery
• Ezaki Glico Co., Ltd.
• The Hershey Company
• Mondelez International
• Ferrero SpA
• HARIBO GmbH & Co. KG
• Chocoladefabriken Lindt & Sprungli AG
• Meiji Holdings Co., Ltd.
• Nestle S.A.
• Barry Callebaut

Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542

According to the confectionery market report, the value of this market stood at USD 206.97 billion in 2023. The report further contains answers to the following questions:

• What are the major factors driving the market?
• What are the main hurdles that the market is facing and will face in the future?
• What are the key market segments?
• Which region or regions hold the largest potential for the market to grow?
• How are the competitive dynamics shaping the market?
• Who are the prominent players in this market, and what are their key strategies?

Market Driver

Hectic Lifestyles to Foster Sales Opportunities

As the global economy continues to grow, it is generating more employment opportunities and encouraging business development. This economic expansion enables greater access to education and skill-building, resulting in a larger workforce and increased demand for office space, particularly in major urban centers. However, the fast-paced lifestyle that accompanies this growth is contributing to rising levels of stress and poor health. In response, consumers are increasingly seeking convenient, healthier snack options that are low in sugar and fat. Chocolate has emerged as a top choice, not only for its taste but also for its potential health benefits. To meet this demand, companies are introducing sugar-free and organic chocolate products that cater to health-conscious consumers. Research from Loma Linda University supports these trends, showing that chocolate may enhance brain function, reduce stress, and decrease inflammation.

The Sweet Spot: Understanding the Confectionery Market

The confectionery market covers many types of sweets like chocolates and candies, worth billions, and growing every year. People are buying more sweets because they enjoy them and find comfort in them.

Trends Driving the Market

1. Healthier Options

People want candy that's not just tasty but also good for them. They look for sweets with less sugar, that are organic, or that use natural ingredients. This has made it easier to find healthier candy choices.

2. Expensive and Unique

People are ready to spend more on candy that's special and made by hand. They enjoy buying high-quality, unique candies that give them a special experience.

3. Creative Flavors

Candy companies are always coming up with new flavors and ways to make candy. From candies with exotic fruits to spicy-sweet ones, there's a lot of creative candy out there to try.

Regional Analysis

Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory

Europe is expected to lead the confectionery market with 39% market share in 2018, mainly due to high demand for premium chocolate products. People want unique and high-quality sweets and are ready to pay for them, leading companies to improve their products in Europe. Asia-Pacific also has great potential for growth because of more money available, a growing number of young and working people, and fast city growth. This has led many companies to try to enter the Asian market, especially China and India, by using various strategies.

Competitive Landscape

Launch of Natural Extracts-derived Products to Spur Competition

The candy market is expected to be very competitive as companies try to keep up with the increasing demand for organic candies. They are also looking to sell their products in more countries by launching new items.

Industry Developments:

• May 2023:  Ferrero North America, one of the leading chocolate manufacturers in the U.S., announced new products and seasonal product lines, including products, such as Kinder Chocolate, at the annual expo of sweets & snacks in Chicago.

Market Overview

The global honey market size was valued at USD 8.94 billion in 2023 and is projected to grow from USD 9.40 billion in 2024 to USD 15.59 billion by 2032, exhibiting a CAGR of 6.52% during the forecast period 2024-2032. Moreover, the honey market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 1.89 billion by 2032, driven by the growing number of beekeepers in the country, coupled with rising demand for natural sweeteners. Asia Pacific dominated the honey market with a market share of 100% in 2023.

In the United States, the honey market is also poised for substantial growth, with projections indicating it will reach USD 1.89 billion by 2032 . This rise is largely attributed to an increasing number of beekeepers and a growing preference for natural sweeteners.

Asia Pacific led the global market in 2023, capturing the entire market share . The surge in demand for organic and healthier sugar alternatives continues to be a key driver of growth across regions.

List of Key Companies Profiled in the Report:

• Bee Maid Honey Limited (Canada)

• Comvita Limited (New Zealand)

• Capilano Honey Ltd. (Australia)

• Dabur India Ltd. (India)

• Billy Bee Honey Products (Canada)

• New Zealand Honey Co. (New Zealand)

• Barkman Honey LLC (U.S.)

• Yamada Bee Company (Japan)

• Dutch Gold Honey Inc. (U.S.)

• Golden Acres Honey (Canada)

Industry Trends:

Growing Demand for Organic Products: Consumers in developed markets such as Europe, the U.S., and Japan are increasingly opting for organic honey, reflecting a broader shift toward clean-label and natural products.

Innovation in Health and Wellness: New honey-based health products, including supplements and functional beverages—like Singapore’s “Honey Exir”—are expanding the market’s reach and appeal.

Technological Advancements: Automation in honey extraction and filtration processes is enhancing product quality and operational efficiency across the supply chain.

Post-Pandemic Health Consciousness: Increased awareness of honey’s antiviral and immune-boosting properties has led to a notable rise in consumption following the COVID-19 pandemic.

Source: https://www.fortunebusinessinsights.com/industry-reports/honey-market-100551

Segments

Buckwheat Segment to Dominate Attributable to High Nutritional Value

By type, the market is segmented into alfalfa, buckwheat, wildflower, clover, acacia, and others. The buckwheat segment is expected to dominate due to its high nutritional value.

Food & Beverage Segment to Dominate Attributable to its Increasing Applications

Based on application, the market is classified into food & beverages, personal care & cosmetics, pharmaceuticals, and others. The food & beverage segment is expected to dominate due to its increasing applications.

Bottle Segment to Lead Owing to Easy Transportation

By packaging, the market is categorized into glass jar, bottle, tub, tube, and others. The bottle segment is expected to lead the market due to its easy transportation.

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

Report Coverage

The report gives an in-depth view of the leading segments and the latest trends in the market. It looks at what is driving market growth and what is hindering it, including the impact of COVID-19. It also discusses developments in various regions and the strategies used by major companies in the market.

Market Growth

The global honey market is steadily growing, driven by increasing consumer awareness of honey’s health-promoting properties, such as its antioxidant, anti-inflammatory, and antibacterial effects. As a natural alternative to refined sugars and artificial sweeteners, honey is gaining popularity, especially in the food and beverage sector. Its therapeutic qualities are also boosting demand in the cosmetics and pharmaceutical industries. Premium varieties like manuka and organic honey are seeing a surge in popularity, often fetching higher prices. Furthermore, the rise of e-commerce and global trade is helping to fuel the market’s continued expansion.

Drivers and Restraints

Rising Adoption of the Product for Natural Sweeteners Production to Foster Market Growth

Honey is widely regarded as a healthier alternative to sugar, valued for its healing properties like soothing sore throats and supporting immune health. With a growing number of consumers choosing honey as a natural sweetener, demand is projected to increase. Health-conscious lifestyles, rising incomes, and a shift toward organic products are all contributing to its growing popularity. Additionally, honey’s applications in medicine are expected to boost sales further.
However, potential changes or adulteration of the product could present challenges to sustained market growth.

Regional Insights

Rising Production of Nectar to Propel Market Growth in Asia Pacific

Asia Pacific is expected to lead the honey market due to its high production levels. In 2021, the market in this region was valued at USD 2.86 billion and is projected to capture a large share of the global market in the coming years. Government investments in beekeeping are also likely to boost market growth. For instance, in May 2020, the Indian government allocated nearly USD 68 million for beekeeping under the Atma Nirbhar Bharat initiative.

In Europe, increasing awareness of honey's health benefits is expected to drive its adoption. Changing consumer preferences and a rise in the consumption of organic products may further promote market growth.

In North America, the growing number of beekeepers in Canada and the U.S. is expected to increase product demand. Additionally, strong demand for organic products is enhancing industry growth.

Competitive Landscape

Companies Devise Novel Product Launches to Elevate Brand Image

Top companies are releasing new products to boost their brand image and increase sales. For instance, in January 2022, Tayima Foods launched I'M HONEY, an organic and raw honey in various flavors with significant medicinal benefits. This product is sold on online platforms like Amazon and is anticipated to increase Tayima's sales and expand their global reach. Moreover, companies are also focusing on mergers, partnerships, expansions, and research and development to fuel market growth.

Honey Market Outlook

• Growing demand: Global demand for honey is on the rise. Consumers are increasingly aware of the health benefits and natural muscle tone.
• Health notes: Honey is often considered a healthy alternative to refined sugar. This trend is leading more people to choose honey in their diet.
• Sustainability focus: More focus on sustainable and organic products. Beekeeping, which supports environmental health, is on the rise.
• Product innovation: New products such as fermented foods and beverages are emerging. This diversity of brands creates widespread appeal and increases sales.

KEY INDUSTRY DEVELOPMENTS:

January 2024: Apis India launched organic honey, which is made of honey sourced from organic-certified lands in India.

March 2023: Bagrrys India, a leading honey manufacturer, launched Bagrry’s Organic Wild Honey. The product is available in glass jars across all retail outlets in the country.

Market Overview:

The global agricultural adjuvants market size was valued at USD 2.92 billion in 2018 and is projected to reach USD 6.59 billion by the end of 2032 , exhibiting a CAGR of 5.61% during the forecast period based on our analysis in the existing report.

This information is presented by  Fortune Business Insights , in its report titled, “ Agricultural Adjuvants Market, 2019-2032 .”

The global market is growing because more people are aware of the environmental harm caused by bad pesticide use. This has led to a higher need for eco-friendly agricultural products, increasing the market's income.

List of Key Players Mentioned in the Report:

• BASF SE
• Clariant AG
• Akzo Nobel N.V.
• Huntsman Corporation
• Helena Agri-Enterprises
• Stepan Company
• DowDuPont
• Wilbur-Ellis
• Drexel Chemical
• Nufarm

Segmentation:

Insecticides to Emerge as Most Attractive Product Type due to Growing Demand in the Asia Pacific

Many adjuvant products on the market are designed to resolve spray-mix incompatibilities that occur when combining different agrochemicals. Activator adjuvants, particularly surfactants, make up the largest category and hold the biggest market share.

Adjuvants application is projected to continue to dominate with herbicides application

In terms of applications, herbicides hold the largest share because they are a major group of crop protection chemicals used in agriculture. The effectiveness of post-emergence herbicides is greatly influenced by factors like the plant's age, size, and growing conditions.

Report Coverage:

The market report examines key regions around the world to give readers a better understanding of the industry. It provides insights into the latest trends and fast-developing technologies globally. The report looks at significant changes in software development and highlights factors that either promote or hinder growth, offering a detailed overview of the agricultural adjuvants market.

Source: https://www.fortunebusinessinsights.com/industry-reports/agricultural-adjuvants-market-100769

Market Main Objective:

The agricultural adjuvants market is designed to meet the needs of different players in the agricultural industry. Here's how it serves each group:

• For Farmers: The goal is to boost crop yields and make crop protection chemicals work better.
• For Pesticide Manufacturers: The aim is to improve the performance of their products, which can lead to using lower amounts and possibly cutting costs for farmers.
• For Policymakers: The focus is on encouraging sustainable farming by promoting adjuvants that help reduce the overall use of pesticides.

In short, the agricultural adjuvants market seeks to enhance agricultural efficiency and productivity while supporting sustainability.

Drivers and Restraints:

Increasing Research and Development to Advance Agricultural Adjuvant Application Technology

Drones, also known as UAVs, are gaining popularity due to their accuracy, cost-effectiveness, simplicity, and safety. As farmers adopt drones, major companies are developing new products. For instance, Clariant, a leading agrochemical company, introduced DropForward in April 2022. This technology improves product delivery accuracy by using adjuvants and co-formulants.

Regional Insights:

North America to Lead During the Forecast Period

Right now, North America and Europe are the top markets for agricultural adjuvants and are likely to maintain a large portion of the global market for the foreseeable future. In these regions, the market is growing because of strict rules on using crop protection chemicals to protect the environment. This growth is also expected in South America and the Asia-Pacific region, mainly due to the increasing demand for crop protection chemicals and the growing awareness among farmers about the benefits of using adjuvants with these chemicals.

Competitive Landscape:

Innovative Product Launch Announcement by Key Players to Bolster Market Growth

Top companies often merge with others to boost their brand value and regularly introduce new products after careful market research to meet customer needs.

Agricultural Adjuvants Market Future Outlook

• Increasing Demand for Crop Protection: As global population grows, the need for effective crop protection products rises. This boosts the demand for agricultural adjuvants that enhance pesticide effectiveness.

• Sustainable Agriculture Practices: There is a shift towards eco-friendly farming techniques. Adjuvants that support sustainable practices will likely see increased adoption in the market.

• Technological Innovations: Advances in formulation technologies are creating more efficient adjuvants. These innovations improve the delivery and performance of agrochemicals, driving market growth.

Key Industry Development:

May 2021 , Agoro Carbon Alliance is a new global company that Yara International said would help farmers embrace sustainable agricultural methods and make money. Farmers who participate in this initiative contribute to yield growth by implementing sustainable carbon farming techniques.

Market Overview:

The global quick service restaurants (QSR) market was valued at USD 971.36 billion in 2024. It is expected to grow steadily, reaching USD 1,055.48 billion in 2025 and projected to hit USD 1,930.14 billion by 2032, reflecting a compound annual growth rate (CAGR) of 9.01% over the forecast period. The U.S. QSR market is also anticipated to expand significantly, with an estimated valuation of USD 599.87 billion by 2032. This growth is largely fueled by rising consumer preference for dining at quick-service establishments. In 2024, North America led the global QSR market, accounting for a dominant share of 37.45%.

The U.S. quick-service restaurant market is set for substantial growth, with an estimated value of USD 599.87 billion by 2032, driven by rising consumer demand for fast and convenient dining options. North America led the market in 2024, holding a 37.45% share of the global QSR industry.

A quick-service restaurant refers to a restaurant that delivers food items that take the least time to prepare and reduce customers’ waiting time. These restaurants offer a vast variety of services to their customers. The business of food delivery has grown exponentially in recent years due to the rising development of food delivery applications and websites. Quick-service restaurants are also looking for different ways to deliver their food services to customers, which will further fuel the quick-service restaurants market growth.

Fortune Business Insights™ displays this information in a report titled, "Quick-Service Restaurants Market, 2025-2032."

LIST OF KEY COMPANIES PROFILED IN THE REPORT

• Chick-fil-A (U.S.)
• Papa John's International, Inc. (U.S.)
• Subway IP LLC (U.S.)
• Starbucks Corporation (U.S.)
• Yum! Brands, Inc. (U.S.)
• McDonald's Corporation (U.S.)
• Restaurant Brands International Inc. (Canada)
• The Wendy's Company (U.S.)
• Dunkin (Inspire Brands) (U.S.)
• Domino's Pizza, Inc. (U.S.)

Segments:

Growing Consumer Interest in Restaurant Dining to Boost Preference for Dine-In Services

Based on service type, the market is segmented into dine-in, takeaway, and delivery. The dine-in segment is expected to dominate the quick-service restaurants market share during the forecast period as more customers prefer to dine-out in restaurants to get the complete dining experience, especially after the COVID-19 pandemic.

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

Source: https://www.fortunebusinessinsights.com/quick-service-restaurants-market-103236

Report Coverage:

The report provides a detailed analysis of the market and covers key areas such as leading market players and their competitive landscape. It also offers leading insights into the latest market trends and focuses on top industry developments. Besides the abovementioned factors, the report covers several factors contributing to the market's growth.

Drivers and Restraints:

Growing Network of Food Malls to Drive Market Progress

Consumers are increasing their preference for shopping malls that have several brands under one roof. Keeping this trend in mind, many food service providers are launching multi-brand food malls and courts to boost their customers’ shopping experience. These malls are equipped with advanced technologies to decrease customer waiting time and offer ease in ordering various food items. These advantages will drive customers’ preference for quick-service restaurants.

However, growing popularity of cloud kitchens can impede the market growth.

Regional Insights:

North America to Lead Market Growth with Rapid Expansion of Fast Food Chains

North America is expected to dominate the global market as the region has a vast presence of fast food chains due to increasing number of dual income households and changing lifestyle of customers.

Asia Pacific will also hold a major global market share as the popularity of quick-service restaurants is growing at a commendable pace in India, Malaysia, Indonesia, South Korea, and China.

Quick Service Restaurants Market Trends:

• Digital Integration : The adoption of self-ordering kiosks, mobile apps, and digital menus is enhancing customer convenience and operational efficiency. These technologies streamline the ordering process and reduce wait times.
• Health-Conscious Offerings : There's a growing demand for healthier menu options, including salads, fruit, and plant-based items, as consumers become more health-conscious. This shift is prompting QSRs to diversify their menus to cater to these preferences.
• Value Promotions : In response to economic pressures, QSRs are introducing value meals and promotions to attract cost-conscious customers. For example, McDonald's launched a $5 Meal Deal, leading to increased customer visits.
• Sustainability Initiatives : There's an increased focus on sustainable practices, such as reducing food waste, sourcing responsibly, and minimizing environmental impact. Consumers are increasingly favoring brands that demonstrate environmental responsibility.
• Delivery and Takeout Expansion : The demand for delivery and takeout services has surged, prompting QSRs to enhance their delivery capabilities and partner with third-party platforms to meet customer expectations.

Competitive Landscape:

Key Companies to Focus on Launching New Products to Retain Market Dominance

The market is witnessing notable growth as key players operating in this industry are increasing their focus on launching innovative products to enhance the dining experience of customers. Some of the major market players include Burger King, McDonald's Corporation, Pizza Hut, Taco Bell, and many more.

Key Industry Development:

August 2023:  American sandwich chain Subway entered a definitive agreement to sell its business to the affiliates of Roark Capital. Roark Capital focuses mainly on investments in consumer business service companies, specializing in franchise and franchise-like businesses.

Market Overview

The global pet supplements market was valued at USD 2.47 billion in 2024 and is projected to grow from USD 2.61 billion in 2025 to USD 3.86 billion by 2032 , registering a CAGR of 5.76% during the forecast period.

In 2024, North America dominated the market, contributing 45.74% of the global revenue.

The market is undergoing a significant shift as consumers increasingly identify as "pet parents" rather than simply pet owners. This emotional connection, combined with a rising awareness of pet health, is fueling demand for high-quality, premium supplements . There's also a growing interest in personalized formulations that cater to specific health needs of pets—an encouraging trend that signals a strong growth trajectory for the industry in the coming years.

List of Major Players Profiled in the Report:

• Mars Incorporated (U.S.)
• Nestle S.A. (Switzerland)
• FoodScience Corporation (U.S.)
• Biostime Pharmaceuticals (Zesty Paws) (China)
• iVet Professional Formulas (U.S.)
• Farmina Pet Foods (Italy)
• Nutramax Laboratories, Inc. (U.S.)
• The Higgins Group Corp. (U.S.)
• Pet Naturals (U.S.)
• Affinity Petcare S.A (Spain)

Source: https://www.fortunebusinessinsights.com/pet-supplements-market-109797

Segments:

The solidified Position of dog segment is owed to the Rising Number of Dog Ownership

By pet type, the market is trifurcated into dogs, cats, and others. Dogs command the highest share of the market, buoyed by increasing ownership rates and continued interest in future adoptions.

Chewable Supplements Lead Market with Their Higher Preference Rate

By form, the market is fragmented into tablets & capsules, chewable, and liquid & powder. The chewable segment gains an edge over other supplement forms owing to its convenience and higher preference.

The hip & Joint Segment Dominates with a Higher Number of Old Pets

By function, the market is classified into skin & coat, hip & joint, digestive health, and others. The escalating number of pets with old age following the hip & joint problems leads to the segment’s top position.

Glucosamine Vanguards with its Proficiency in Protecting Chondrocyte Cells

By supplement, the market is categorized into glucosamine, probiotics & prebiotics, multivitamins, and others. Glucosamine captured the largest share of 38.02% in 2023 and made its mark as a dominant supplement with its ability to protect chondrocyte cells and maintain cartilage structure.

Offline Channel Gains Prominence with Simplified Price Comparisons

By distribution channel, the market is split into online channels and offline channels. The offline distribution channel's easier price comparison and variegated options place the segment at the forefront.

Regionally, the market is studied across North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Report Coverage
The research report offers a detailed examination of market trends, notable industry developments, and factors favorable for the market’s growth. Moreover, it includes emerging opportunities and challenges within the market. In addition to the above factors, the report also covers key strategies by market players, their positioning, and technological advancements shaping the market landscape.

Drivers and Restraints

Millennial and Gen Z Pet Owners Drive Personalized Wellness Trends in the Market

Millennials and Gen Z now make up a substantial share of pet owners worldwide. Their strong preference for personalized wellness solutions , heightened awareness of pet health trends , and greater disposable income are key factors driving the future growth of the pet supplements market .

However, stringent regulations in developed markets are pushing up manufacturing costs, posing a challenge to market expansion and potentially slowing growth in certain regions.

Regional Insights

North America Leads the Market with High Pet Ownership

North America secured USD 1.07 billion in 2024 and holds the maximum pet supplements market share globally. Most of the U.S. population is estimated to own at least one pet, resulting in higher adoption of pet supplements.

Asia Pacific is projected to outpace other regions in terms of growth rate with higher adoption rates from the millennial population.

Competitive Landscape

Industry Titans Forge Ahead with Strategic Initiatives to Cement Market Position

Industry giants solidify their pet supplements market position by prioritizing innovation and expansion strategies such as new product launches and strategic acquisitions. Mars Incorporated's launch of Pedigree multivitamins in March 2023, which exemplifies its commitment to catering to the growing preference for supplements among younger pet owners.

Key Industry Development

December 2023:  EverRoot, a pet supplement brand powered by Purina, announced that it has teamed up with athlete and fitness and wellness advocate Laila Ali to introduce its all-new format of dog supplements called EverRoot Dog Supplements Soft Chews. This new product line will be available across distribution channels, and its personalized dog supplement is said to be designed to cater to a variety of overall health benefits.

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 soybean oil market size was USD 51.23 billion in 2023 and is projected to grow from USD 52.86 billion in 2024 to USD 68.42 billion by 2032, exhibiting a CAGR of 3.28% during the forecast period. Asia Pacific dominated the Soybean Oil Market with a market share of 46.52% in 2023.

This information is published by  Fortune Business Insights in its report, titled  “Soybean Oil Market, 2024-2032.”

Our researchers found that the increasing use of soybean oil by food manufacturers and restaurants for making baked and fried foods, as well as for selling in bottles as cooking oil, is boosting the market. In the worldwide market for goods, soybean oil is unique because of its many uses, health benefits, and value. This oil, made from soybeans, has caught the attention of buyers, investors, and scientists because of its wide range of uses and potential for growth. Let's dive into the fascinating world of soybean oil and learn why it's a key subject in farming and finance.

List of Key Players Mentioned in the Report:

• Archer Daniels Midland Company (Illinois, U.S.)
• Associated British Foods, plc (London, U.K.)
• Bunge (Missouri, U.S.)
• Cargill, Inc. (Minnesota, U.S.)
• Louis Dreyfus Company (Rotterdam, Netherlands)
• Wilmar International Limited (Singapore)
• DuPont (Delaware, U.S.)
• Unilever plc (London, U.K.)
• AMAGGI Group (Cuiaba, Brazil)
• SunOpta, Inc. (Brampton, Canada)

Report Coverage:

Our reports are made carefully, focusing on being detailed and accurate. Our researchers check data carefully, helping us give trustworthy reviews and understand market changes well. We have many international and local records, making sure our information is up-to-date. This helps people in business and investors make smart choices.

Segmentation:

On the basis of application, the market is segregated into Cooking & Frying, Margarine & Shortening, Salad Dressings & Mayonnaise, Bakery Products, and Non-Food Applications.

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

The Rise of Soybean Oil

Soybean oil is a popular choice for cooking because it doesn't change the taste, can withstand high heat, and is good for the heart. Lately, more people are choosing it because they want healthier options and more plant-based foods. This has led to more soybean oil being made, used, and traded, making it an important part of the worldwide oils and fats market.

Source: https://www.fortunebusinessinsights.com/soybean-oil-market-106282

Market Dynamics and Trends

The soybean oil market is constantly changing due to things like the weather, government rules, what people like, and deals with other countries. Lately, more people want non-GMO and organic soybean oil because they care about their health and the environment. Also, more people are eating plant-based diets and using soybean oil in many different products, like fuel and makeup, which is helping the market grow and change.

Drivers and Restraints:

Extending Food Usage of Soybean Oil to Foster Market Growth

The oils and fats industry is growing worldwide, mainly because they're used more in making food. Soybean oil is the second most popular vegetable oil globally, used for frying, cooking, and making margarines. It's also becoming more popular in baking, helping the soybean oil market grow. But the industry has some problems. Other oilseeds can be used instead, and people are starting to prefer healthier oils like olive oil, which is reducing soybean oil sales.

Regional Insights:

The soy oil market in Asia Pacific, especially in China and India, has grown rapidly due to increased buying power and affordability. Asia Pacific dominated the market in 2020. North America is also seeing growth, with the U.S. being the top consumer due to its fast-growing food processing industry. South America is growing as well, with Brazil and Argentina leading in production and export.

Competitive Landscape:

Acquisitions and Mergers to Assist Vital Players in the Market

Market leaders use smart plans with help from experts to dominate the market and build a strong brand. They often buy other companies to make more money.

Industry Developments:

• August 2021 –  ADM and Marathon Petroleum Corp announced a joint venture to produce soybean oil to fulfill their rising demand to produce renewable diesel fuel.

Market Overview:

The global fresh vegetables market size was valued at USD 714.25 billion in 2023. The market is projected to grow from USD 731.18 billion in 2024 to USD 921.09 billion by 2032, exhibiting a CAGR of 2.93% during the forecast period. Asia Pacific dominated the fresh vegetables market with a market share of 63.9% in 2023.

Fresh vegetables are perishable, which has increased the demand for an efficient supply chain management to ensure that the highest quality of produce reaches the customers and there is no waste. The demand for these vegetables might fluctuate based on various factors, such as customers’ preferences, economic conditions, and urbanization in various countries. Customers’ increasing inclination toward healthier foods will bolster the demand for fresh vegetables.

LIST OF KEY COMPANIES PROFILED IN THE REPORT

• Dole Plc. (Ireland)
• Fresh Del Monte Produce Inc. (U.S.)
• H. Robinson Worldwide, Inc. (U.S.)
• Binder International GmbH & Co. KG (Germany)
• Keelings (Ireland)
• Wang Zeng International Limited (U.K.)
• Mirak Group (UAE)
• Favco (Australia)
• Vegpro International Inc. (Canada)
• Mazzoni S.p.A. (Italy)

Segmentation:

Increasing Preference for Vegan Diet to Help Others Segment Dominate Market

Based on type, the market has been divided into onions, potatoes, tomatoes, cucumber, cabbage, eggplant, and others. The others segment includes carrots, broccoli, mushrooms, corn, garlic, asparagus, and green beans. The others segment is predicted to dominate the market due to the increasing preference for vegan diet among individuals to lead a healthier life.

Household Segment to Dominate Market Owing to Rising Global Population

Based on end use, the market has been segregated into household and commercial. The household segment is anticipated to dominate the global fresh vegetables market share due to the growing global population. This factor will increase the demand for healthy foods, which will positively impact the sales of fresh vegetables.

Availability of Wide Array of Products to Boost Customer Footfall in Offline Stores

Based on distribution channel, the market is segmented into online and offline. The offline segment might hold the biggest market share during the forecast period as offline stores offer a wide range of fresh vegetables that customers can choose from. Moreover, they can personally inspect the quality of the products before purchasing them, further strengthening the segment’s growth.

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

Source: https://www.fortunebusinessinsights.com/fresh-vegetables-market-110977

Report Coverage:

The report has conducted a detailed study of the market and highlighted several critical areas, such as popular types, distribution channels, end uses, and prominent market players. It has also focused on the latest market trends and the 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 Demand for Organic & Healthy Foods to Augment Market Growth

A growing number of individuals are becoming conscious about their health and wellbeing, which has resulted in an increased demand for organic and healthy foods, such as fresh vegetables. People are becoming aware of the role a healthy and well-balanced diet plays in improving them from a wide range of chronic diseases, such as heart ailments, diabetes, and cancer. This factor is expected to increase the consumption of fresh vegetables.

However, several farmers can find it difficult to obtain the organic grower certification from relevant authorities, which can adversely impact the fresh vegetables market growth.

Regional Insights:

Asia Pacific Dominated Global Market Owing to Large-Scale Production of Fresh Vegetables

Asia Pacific held the largest global market share in 2023 as the region is known for its large-scale production of fresh vegetables. Countries, such as India and China are the world’s leading producers and exporters of vegetables. As per the Ministry of China, the country produced an astounding 680 million metric tons of vegetables in 2022. These factors are expected to help the region dominate the global market.

North America is also anticipated to show healthy growth due to the increasing adoption of vegan diet in countries, such as the U.S. and Canada.

Competitive Landscape:

Leading Market Players to Focus On Partnerships and Acquisitions to Remain Competitive

Some of the top companies operating in the market are announcing partnerships, acquisitions, and mergers & acquisitions to expand the capacity of producing fresh vegetables. They are also using these strategies to launch new and exotic varieties of vegetables. These business decisions will help them expand their current customer base.

Notable Industry Development:

April 2024 –  Gopuff, an American retail company, announced its partnership with Misfits Market, an online grocery delivery platform. Through this collaboration, the companies plan to introduce over 300 fresh grocery items across the U.S., including fruits, vegetables, dairy, and poultry to the customer’s doorstep in 15 minutes.