The
global meat
substitutes marketis set to gain traction from the surging shift of people towards vegan diets,
especially in North America and Western Europe. The Vegan Society, for
instance, declared that if the world went vegan, it could reduce greenhouse gas
emissions by two thirds, save around 8 million human lives, and save healthcare
expenditure by 2050. This information is given by Fortune Business Insights™ in
a report, titled, “Meat Substitutes Market Size, Share &
COVID-19 Impact Analysis, By Source (Soy-based Ingredients, Wheat-based
Ingredients, Textured Vegetable Proteins, and Other grain-based Ingredients),
Distribution Channel (Mass Merchandisers, Specialty Stores, Online Retail,
Other Retail Channels, and Foodservice), and Regional Forecasts, 2021 – 2028.” As
per the report, the market size was USD 4.98 billion in 2020. It is projected
to grow from USD 5.37 billion in 2021 to USD 10.80 billion by 2028, exhibiting
a CAGR of 10.48% during the forecast period.
List
of renowned providers of meat substitutes operating in the global market:
Unavailability
of Fresh Meat amid COVID-19 Pandemic to Bolster Growth of Market
The
COVID-19 pandemic has accelerated the demand for meat substitutes across the
globe because of disruptions in supply chain, absence of employees in
meat-processing plants, and unavailability of fresh meat. At the same time,
several researches conducted amid the pandemic, such as one from the Food and
Agriculture Organization, stated that multiple diseases are directly associated
with animal-based food items.
Report
Coverage-
The
research report offers a comprehensive analysis of organizations that can
affect the outlook throughout the forthcoming years. Besides, it provides an
authentic assessment by highlighting information on several aspects that may
include growth drivers, opportunities, trends, and hindrances. It also
represents the size of the meat analogues industry from a global perspective by
analyzing qualitative insights and historical data.
Drivers
& Restraints-
Increasing
Demand for Allergen-free Alternatives to Propel Growth
Plant-based
meat made from peas and soy has high protein content. Hence, people are
choosing them over chicken, beef, and pork. They also have a meat-like texture.
Besides, the rising vegetarian populations and surging trend of health and
fitness worldwide would propel the market in the upcoming years. People are
nowadays looking for allergen-free alternatives, especially chickpeas because
of rising health consciousness. Therefore, various companies are striving to
come up with products infused with pea protein. However, meat substitutes are
very expensive and it may hamper growth.
Regional
Insights-
Presence
of Flexitarian Consumers to Help Europe Grow in Future
Geographically,
Europe procured USD 1.62 billion in terms of revenue in 2020. The surging
ethical focus of consumers, high demand from millenials, and the presence of
flexitarian consumers would drive growth in this region. Asia Pacific, on the
other hand, is expected to be the fastest growing region on account of the high
popularity of unique diet patterns and demand for soy-based meat analogues.
Competitive
Landscape-
Key
Players Focus on Introducing Novel Products to Meet Consumers’ Demand
The
global market for meat substitutes houses a large number of companies that are
currently striving to keep up with the high consumer demand. To do so, they are
launching innovative products or are collaborating with government agencies for
setting up R&D centers.
Segments-
Soy-based
Ingredients Segment Held 63.65% Share in 2020: Fortune Business Insights™
Based
on the source, the soy-based ingredients segment generated 63.65% in
terms of the meat substitutes market share in 2020. It is expected to remain
dominant in the near future because of the presence of essential amino acids
and high-quality protein. Also, the emergence of soy protein isolates that have
a close resemblance with the organoleptic properties of meat and animal
products would propel the segment’s growth.
Below
are the two significant industry developments:
Source:
https://www.fortunebusinessinsights.com/industry-reports/meat-substitutes-market-100239
According to
Fortune Business Insights™, the global jewelry industryis expected to
showcase considerable growth by reaching USD 266.53 billion while exhibiting a
CAGR of 3.7% between 2020 and 2027. This is attributable to the increasing
adoption of technology and the remarkable emergence of digital media platforms
that propel the demand for luxury jewelry globally. Fortune Business Insights,
published this information in its latest report, the report further mentions
that the market stood at USD 330.0 billion in 2019 and is projected to gain
momentum in the forthcoming years.
What
does the Report Include?
The market
report includes a detailed assessment of the various market drivers and
restraints, opportunities, and challenges that the market will face during the
projected horizon. Furthermore, the report provides comprehensive research into
the regional developments of the market, affecting the market growth during the
forecast period. Moreover, the report includes information sourced from the
advice of expert professionals from the industry by our research analyst using
several research methodologies for the market. The competitive landscape offers
further detailed insights into the strategies such as product launches,
partnership, merger and acquisition, and collaborations adopted by the
companies to maintain market stronghold between 2020 and 2027.
KEY
DRIVING FACTORS
The
emergence of Digital Media Platforms to Promote Growth
The growing
influence through reality shows, music videos, and movies enable digital media
platforms to play a pivotal role in propelling the sales of luxurious jewelry
products globally. In addition to this, the adoption of technology in the
manufacturing of the ornaments is anticipated to bode well for the global
Jewelry Industry growth during the forecast period. For instance, the products
such as Luxe Smart Ring by The Ringly are equipped with several technological
features such as health and fitness monitoring and GPS, along with being
equipped with large gemstones.
Reduce
Number of Labor Workforce amid COVID-19 to Hinder Growth
The global pandemic
has led to a lockdown announced by government agencies across the globe. This
has led to a partial lockdown of industrial operation and has left several
laborers unemployed. Owing to the reduced number of jobs, the workforce has
opted to return to their native places that has severely affected the market
growth. However, collective efforts by the manufacturers and government to
ensure a safe working environment by taking measures to contain the widespread
effect of COVID-19 is expected to drive the market in the near future.
Jewelry
products mainly consist of gold, silver, diamonds, and other exotic gemstones.
They have been a symbol of luxury since centuries and adorn by people for
beautification and enhancing their overall appearance. Additionally, the high
demand for bridal ornaments, and the different festivities and traditions
followed by people globally boosts the consumption of exotic gemstones and
other products.
SEGMENTATION
Necklace
Segment Held a 22.70% Market Share
The necklace
segment, based on product, held a market share of about 22.70% in 2019 and is
likely to showcase considerable growth during the forecast period. This is
ascribable to factors such as the increasing adoption of jewelry products by
women consumers across the globe.
REGIONAL
INSIGHTS
Presence
of Established Manufacturers in Asia-Pacific to Favor Growth
Among all the
regions, Asia-Pacific is expected to remain dominant and hold the highest
position in the global Jewelry Industry during the forecast period. This dominance
is attributable to the presence of established manufacturers such as Tanishq,
Queelin, and others in countries such as India and China in the region.
Asia-Pacific generated USD 130.49 in terms of revenue in 2019.
The market in
North America is expected to experience significant growth owing to the
presence of several millionaires in countries such as the U.S. that propels the
sales of exotic and premium jewelry in the region. For instance, as per the
Global Wealth Report 2019, 40% of the total millionaires globally are present
in the United States.
COMPETITIVE
LANDSCAPE
Major
Companies Focus on Expansion Strategies to Leverage Market Opportunities
The global
Jewelry Industry is experiencing stiff competition owing to the presence of
several major companies that are focusing on expanding their facilities to
cater to the increasing demand for luxury jewelry products globally. In
addition to this, key players are adopting strategies such as merger and
acquisition, partnership, and collaboration to maintain market stronghold in
the forthcoming years.
Source:
https://www.fortunebusinessinsights.com/jewelry-market-102107
The
global food enzymes market size
is expected to rise considerably owing to extensive adoption of clean-labeled
and natural ingredients in food & beverage industry. Fortune Business
Insights, in its latest report, titled “Food Enzymes Market Size, Share & Industry Analysis,
By Source (Microbes, Plants, and Animals), Type (Carbohydrases, Proteases,
Lipases and Others), Application (Bakery, Dairy, Beverages, Nutraceuticals and
Other Processed Foods), and Regional Forecast, 2020 – 2027.”, further
observes that the market value stood at USD 1.69 billion in 2019, which is
likely to hit USD 2.39 billion by 2027 while exhibiting a 4.70% CAGR during the
forecast period.
What does the Market
Report Include?
The
market report includes an exhaustive study of several factors such as drivers,
restraints, challenges, and opportunities that will affect the growth of the
market in the forthcoming years. The report covers regional demographics that
include qualitative and quantitative information about the regions that are
further divided into nations that are contributing to the growth of the market
between 2019 and 2026. Furthermore, the competitive landscape has been
discussed in-depth that include information of several players operating in the
market. Moreover, information on the adoption of strategies such as merger and
acquisition, collaboration, partnerships, and joint ventures by the companies
that will drive the growth of the market has been included during the projected
horizon.
Drivers and Restraints:
Increasing Consumption of Clean-Labeled Food to Surge Demand
According
to the European Food Safety Authority (EFSA), long-term exposure of chemicals
at high concentrated levels through food may have a toxicological effect on
humans. Though they are essential building blocks, synthetic chemicals as
additives have an adverse effect on health when consumed. Increasing awareness
among people regarding the health concerns associated with the consumption of
synthetic ingredients is expected to surge the demand for clean-labeled food
across the globe. The gradual shift of the consumers from chemical ingredients
to naturally processed food products that are safe and healthy will boost the
demand for food enzymes in the forthcoming years. For instance, in October
2019, Tiny Organics, a U.S.-based direct-to-consumer brand, announced its
launch of organic plant-based recipes that are healthy for toddlers. The
recipes include baby burrito bowls, pumpkin spice oatmeal, and coconut
curry-induced dishes.
Regional Analysis:
Increasing Demand for High-quality Processed Food to Augur Growth
in North America
Among
the regions, North America is anticipated to remain dominant and register high
global food enzymes market revenue in the forthcoming years. This is
ascribable to factors such as growing demand for naturally occurring
ingredients. Additionally, increasing demand for high-quality processed food
and rising investments from manufacturers to develop innovative products is
likely to drive the market growth in the region. Asia-Pacific, on the other
hand, is likely to register steady growth for the market during the forecast
period. This is attributable to factors such as growing demand for bakery and
dairy products.
Competitive Analysis:
Joint Ventures Among Companies to Spur Demand for Food Enzymes
In
November 2019, Cargill along with DSM announced its plan to enter into a joint
venture. Avansya, the joint venture between the two giants is about
constructing a commercial facility to manufacture stevia sweeteners through the
fermentation process. The companies are likely to consolidate their position
with their collaboration by setting up the 10,000 sq. ft. plant that costs
around USD 50 million, located at Blair, Nebraska. Adoption of strategies such
as joint ventures, product launches, and expansion of product offerings by the
companies to cater to the increasing consumer demand is likely to favor the
global food enzymes market growth between 2020 and 2027.
Key Industrial
Development:
March 2019: AB Enzymes, a leading biotech
company, announced its launch of a new enzyme product, ROHALASE. The new enzyme
will limit the need for chemicals to extract oil from seeds such as sunflower,
soy, and canola, among others while helping the company to deliver high yields.
Source:
https://www.fortunebusinessinsights.com/food-enzymes-market-102835
The global hummus market size is
set to gain momentum from the increasing shift of people towards the vegan
diet, especially in Europe and North America. The surging awareness of
environmental sustainability and animal welfare is compelling people to opt for
plant-based dips. As per Statista, in the U.S., sales of refrigerated
plant-based dips went up to USD 11 million in April 2019. As per the report,
the market size was USD 2.62 billion in 2020. It is predicted to grow from USD
2.95 billion in 2021 to USD 6.60 billion in 2028 at a CAGR of 12.17% in the
forecast period.
Companies profiled in the hummus market report are:
Report Coverage:
We have conducted extensive primary and secondary research to
gather information about various aspects of this report. Our special interviews
with end-user respondents and supply side respondents helped in gaining
insights into the average pricing, per capita consumption trend, and average
spending on products, growth rate, market size, and dynamics. We have also
taken information from reputed journals, articles, and press releases of
companies operating in this industry.
Drivers & Restraints:
Rising Usage of Functional Ingredients to Improve Immunity will
Aid Growth
Consumers across the globe are nowadays demanding for unique
flavors in their dips. Hence, several manufacturers are striving constantly to
come up with novel products to cater to the taste and preferences of consumers.
O'Dang Foods, for instance, introduced two new flavors of balsamic feta and
classic Mediterranean hummus in the U.S. in June 2020 to fulfill the high
demand for Mediterranean cuisine. A few other companies are equipping their
dips with various functional ingredients, such as lime, turmeric, blueberry,
and lavender because of the ongoing COVID-19 pandemic for enhancing immunity.
However, the increasing availability of substitutes, namely, salsa and tahini
may hamper the hummus market growth.
Regional Insights:
North America to Dominate Fueled by Higher Consumption of Dips and
Spreads in the U.S.
Geographically, North America held USD 1.33 billion in terms of
revenue in 2020. It is anticipated to dominate the market in the upcoming
years. The surging consumption and production of spreads and dips, especially
in the U.S. would bolster growth. Also, companies are trying to produce
attractive and new dips to generate more sales. Argania Foods, for instance,
introduced vegan cauliflower keto hummus dip in the U.S. in December 2019. On
the other hand, Europe is likely to remain in the second position backed by the
high popularity of the product in the U.K. In Asia Pacific, the rising
disposable income of people is expected to aid growth.
Segments:
Classic Segment Earned 41.40% Share in 2020: Fortune Business
Insights™
Based on type, the market is divided into red pepper, classic,
black olive, white bean, roasted garlic, and others. Out of these, the classic
segment is set to remain at the forefront in the near future because of its
versatility and easy availability. It can be consumed as a dip, spread, or
appetizer. At the same time, it is highly nutritious and naturally gluten-free.
The segment generated 41.40% in terms of the hummus market share in
2020.
Competitive Landscape:
Key Players Focus on New Product Development to Intensify
Competition
The global market houses a large number of international and local
companies that are constantly launching state-of-the-art products in various
sizes to meet consumers’ needs. Most of them are conducting R&D activities to
create unique dips.
KEY INDUSTRY DEVELOPMENTS:
Browse Detailed Research Insights with Table of Content:
https://www.fortunebusinessinsights.com/hummus-market-105632
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The global condom market size is expected to reach
USD 10.97 billion by 2028, exhibiting a CAGR of 9.4% during the forecast
period. The growing awareness regarding STDs such as, hepatitis B, Syphilis,
trichomoniasis, and chlamydia can fuel demand for condoms, which, in turn, will
aid the expansion of the market, states Fortune Business Insights, in a report
titled, “Condom Market Size, Share & COVID-19 Impact Analysis, By Type
(Male and Female), Material (Latex and Non-latex), Distribution Channel (Mass
Merchandisers, Drug Stores/Pharmacies, Online Retail Stores, and Others), and
Regional Forecast, 2021-2028.” The market size stood at USD 5.31
billion in 2020.
The coronavirus incident has caused colossal loss to several
industries across the globe. The governments of several countries have
instigated a lockdown to thwart the spread of this deadly virus. Such plans
have caused disturbances in the production and supply chain. But, with time and
resolution, we will be able to combat this stern time and get back to
normality. Our well-revised reports will help companies to receive in-depth
information about the present scenario of every market so that you can adopt
the necessary strategies accordingly.
COVID-19 IMPACT:
Increased Supply of Essential Health Products to Elevate Market
amid COVID-19
The lockdown imposed by governments restricted the supply of
various products. However, the accessibility and supply of essential wellness
products have improved the scope of the market during the pandemic. The United
Nations Population Fund (UNFPA) provided a summary in their brief published in
April 2020 ‘Condoms and lubricants in the time of COVID-19’.
It has provided necessary actions that needed to be taken to
sustain supplies of condoms during COVID-19 to ensure unintended pregnancies
and other concerns of unprotected sex do not surface during the lockdown.
Moreover, the increasing product availability and enhanced supply chain with no
lockdown will consequently boost the growth of the market in the time of the
pandemic.
The Report Lists the Key Companies in this Condom
Market:
The report on this market features:
Driving Factor:
Increasing Consciousness about Birth Control to Effectively Uplift
Market
The growing knowledge about the use of condoms as a contraceptive
can have an excellent impact on the market growth during the forecast period.
As per the Contraceptive Use by Method 2019 of the United Nations report,
the prevalence of male condoms has escalated from 4.5% in 1994 to 10.0% in 2019
globally.
As per the same report, the number of women (those with
reproductive age of 15 to 49 years) relying on male condoms as a means of
contraception has substantially increased from 64 million in 1994 to 189
million in 2019.
Furthermore, the increasing utilization of other control methods
such as oral pills can simultaneously improve the prospects of the market.
However, oral pills have adverse effects and cause hormonal imbalance in women,
resulting in serious health problems. Therefore, the weakened inclination
towards contraceptive pills among women can subsequently fuel the demand. Besides,
the rising sex education in developing nations can have a positive impact on
the market in the forthcoming years.
Regional Insights:
Ever-increasing Population to Spur Demand in Asia Pacific
The market in Asia Pacific is lucrative and is expected to experience
a rapid growth rate during the forecast period owing to the ever-increasing
population and increasing education level in developing nations. The growing
awareness regarding birth control methods can have an excellent impact on the
market in Asia Pacific. The implementation of childbearing policies to control
the population will effectually aid the growth of the market in the region. The
increasing number of unwanted pregnancies will further spur demand for condoms,
thus promoting the growth of the market.
As per the report, Contraceptive Use by Method 2019 of the United
Nations, in Eastern and South-Eastern Asia, these are one of the most prevalent
contraceptive methods accounting for 17% share in 2019. Europe and North
America are expected to experience a steady growth rate due to contraceptive
products' higher usage rate. As per the report, Contraceptive Use by Method
2019 of the United Nations, condoms in Europe and Northern America account for
14.6% share among all contraceptive methods in 2019.
Market Segments:
The market is segmented into male and female product types. The
male segment is expected to dominate the market based on type owing to the
higher usage rate, greater availability, and relatively lower cost compared to
female product types. The market is classified into latex and non-latex.
The latex segment is expected to hold a major market share due to
its greater stretchability and strength compared to non-latex materials such as
polyurethane. The market is divided into mass merchandisers, drug
stores/pharmacies, online retail stores, and others. The drug stores/pharmacies
segment is expected to hold the largest condom market share owing to the high
availability of trusted brands.
Competitive Landscape:
Rising Emphasis on Eco-friendly Products by Prominent Companies to
Spur Opportunities
To attract customers, companies are focused on producing original
product designs, such as those with unique tastes and lubricants. Furthermore,
they are concentrating on making their goods environmentally friendly and safer
to use for customers, such as through the use of environmental friendly
components and the responsible use of utilities throughout the production
process.
For example, Ritex, a German company, has employed
EKOenergy-certified power in their sustainable product line "PRO
NATURE." As a result, the launch of new goods, the adoption of
environmentally friendly production techniques, and mergers and acquisitions
strategies are expected to aid manufacturers in their company growth.
Key Industry Development:
October 2020: Durex, a condom brand based
in Britain, introduced a new product range, ‘‘Durex invisible condoms’’. This
was launched in India as India’s thinnest condom product.
Source:
https://www.fortunebusinessinsights.com/condom-market-104519
According
to Fortune Business Insights™, The global gaming market size is expected to gain momentum by reaching USD
545.98 billion by 2028 while exhibiting a CAGR of 13.20% between 2021 and 2028.
The
gaming market is fragmented by major companies that are focusing on maintaining
their presence. They are doing so by proactively investing in R&D
activities to develop engaging online video games. Additionally, other key
players are adopting organic and inorganic strategies to maintain a stronghold
that will contribute to the growth of the market during the forecast period.
Online video games have become more prevalent in recent years.
Most
people find online games attractive and a modest way to find free time from
their hectic schedules. Moreover, during the pandemic, the inclination toward
gaming increased dramatically. Many companies such as Nintendo and
Tencent witnessed an increase in their sales during the first quarter. The
former showcased a profit of 41%, as it sold many of its games digitally. The
demand for online games will be persistent in upcoming years, and this market
is anticipated to boom during the forecast period.
List
of the Companies Profiled in the Global Gaming Market:
Report
Aim & Scope:
Driving
Factor
Rising
Youth Employment to Spur Demand for Video Games
The
rising millennial youth population is expected to drive the gaming market
growth. For instance, a report from the American Association of Advertising
Agencies.Org, published in February 2019, mentioned that the generation z
population plays games daily. Their number is higher than that of millennials
by 84%. Moreover, rising disposable income is resulting in a higher
consumption rate of video games. For instance, the data released by the World
Bank.Org, states that the global youth unemployment in 2018 is 15.19% which is
a decline from 15.37 % from its prior year.
Market
Segmentation:
Based
on game type, the market is divided into shooter, action, sports, role-playing,
and others.
Based
on game type, the shooter segment held a gaming market share of about 23.35% in
2020. The segment is expected to experience considerable growth since it
provides 3D realistic graphics. It makes players experience a whole new
experience of the virtual world. This fascinating atmosphere provided by battle
games is driving the segment market.
By
device, it is segmented into PC/MMO, tablet, mobile phone, TV/console. On the
basis of end-user, it is bifurcated into male and female. Finally, the market
is categorized into North America, Europe, Asia Pacific, South America, and the
Middle East & Africa based on region.
Regional
Insights
Asia
Pacific to Remain at Forefront Backed by Rising Urban Population
Asia
Pacific – The
region is expected to hold the highest position in the market during the
forecast period. This is ascribable to the rapid growth in the urban
population. The rising awareness about trending video games is helping the
market to thrive in the region. The report from World Bank.Org data
suggests that in 2019 the urban population of the East Asia Pacific was 59.887
% which rose from 59.053 % from the previous year. The regional market stood at
USD 86.96 billion in 2020.
North
America – The
rising number of children with their smart devices is surging the market. For
instance, the data released by the National Public Radio.Org in October 2019
stated that more than half of the children in America possess their
smartphones.
Browse
Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/gaming-market-105730