Gummy Vitamins Market: Introduction

Gummy Vitamins are a class of supplements that are in the form of gummies. These gummies possess the same properties that of traditional vitamins but are more convenient and appealing. According to Insights and Reports analysis, the global gummy vitamins market is projected to grow at a CAGR of over 4.5% during the forecast years. The growing penetration of gummy vitamins in the dietary supplements market coupled with the increasing adoption rate are the major factors attributing to this growth. These gummy vitamins come with different tastes, shapes and colors which makes them more preferable among both kids as well as adults.

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Gummy Vitamins Market: Trends

The growing popularity of gummy vitamins among children as well as adults is projected to boost the market during the forecast years. Moreover, the growing demand for dietary supplements owing to their health benefits is also anticipated to surge the demand for gummy vitamins during the forecast period. Furthermore, the problems of pill fatigue among the adults can also be resolved through the use gummy alternatives thereby adding to the market demand. However, lack of awareness about the gummy vitamins coupled with the presence of excessive sugar in the products are anticipated to be some of the major restraining factor of the global gummy vitamins market.

The major manufacturers are constantly investing of research and development activities to gain a larger share in the market. The production of sugar free gummy vitamins as well as using alternative sweeteners is anticipated to be a major trend by the end of the forecast years.

On the basis of type, the multivitamin segmented is projected to be the dominant segment during the forecast years. The rising intake of multivitamins across the globe has led to the development of new tastes and shape which is projected to act as a major driving factor contributing to the growth of the segment. On the basis of age group, children gummy vitamins are projected to be the dominant segment, whereas the adult gummy vitamins segment is projected to witness the highest CAGR during the review period. The growing pill fatigue among adults is acting as a major trigger in the demand for gummy vitamins, and is projected to show the same trend throughout the forecast period.

Regional Acumens:

On the basis of region, the global gummy vitamins market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. According to Insights and Reports analysis, the North American region is projected to dominate the global gummy Vitamins market closely followed by the European market during the review period.  The growing dependency of dietary supplements mainly in U.S coupled with the presence of major pharmaceutical manufacturers is expected to drive the North American gummy vitamins market. Asia Pacific market of gummy vitamins is set to display the highest CAGR during the assessment years. According to Insights and Reports analysis the Asia Pacific market of gummy vitamins is projected to grow at a CAGR of over 3% during the forecast period.

Competitive Landscape:

The proficient players operating in the global Gummy Vitamins market has adopted various organic and inorganic growth strategies to enhance their presence in the global market. Some of the major players operating in the global Gummy Vitamins market are Abh Labs, Vitakem Nutraceutical, Inc, Gimbal Brothers, Inc, Makers Nutrition, Llc, Nutra Solutions USA, and Ernest Jackson & CO.LTD among others.

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Edible Insects Market: Introduction

Edible insects are those insects that are taken into account for the purpose of animal as well as human feed. The demand for edible insects are increasing as they are rich in Calcium, Phosphorous, Protein, Magnesium, Iron and Zinc, which makes them ideal to be used in manufacturing nutritive food items.

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Market Dynamics:

The Global Edible Insects Market is anticipated to grow significantly over the forecast period, owing to increase in population especially in developing countries, which has generated the demand for affordable protein-rich food. According to the United Nations Department of Economic and Social Affairs, the world population is expected to reach 8.5 billion by 2030. High cost of animal and plant based protein is aiding the growth of global edible insects market, as they are cost effective.

 

Furthermore, less complexity associated in the manufacturing of food products made up of edible insects protein, coupled with increased governmental support to edible insect-based food production are escalating the growth of edible insects market. According to Food and Agriculture Organization of the United Nations, insects are capable of converting food at a faster rate, for instance, crickets require four times less feed than sheep and six times less feed than cattle for the production of similar amount of protein. However, lack of awareness towards the benefits of consumption of edible insects, allergies among some individuals and psychological barriers related to insect consumption can hinder the growth of the global edible insects market.

 

By Insects Type:

Beetles are anticipated to be the most widely used edible insects over the forecast period, owing to the availability of a number of beetle species such as ground beetles, Rove beetles, water beetles and others, coupled with health benefits associated with consumption of beetles. Crucial role played by beetles in biodegradation and their ability to convert tree cellulose into digestible fat are fueling the growth of edible beetles based food products. The demand for mopane caterpillars are anticipated to rise over the forecast period owing to the high iron content present in them along with their higher economical value. According to the World Health Organization (WHO), nearly one-third of the world population is affected by iron deficiency anemia, which creates a huge demand for iron-rich diet.

 

By Application:

On the basis of application, animal feed is expected to hold the largest market share due to their higher adaptation for animal feeding. Escalation in prices of soybean meal and fishmeal is driving the demand for cost-effective and sustainable feed solutions for animals, which is creating great scope for the growth of edible insects market in animal feeding. Lower capital investment and less water required for the production of edible insect based animal feed will boost the growth of edible insects market over the forecast period. Rising demand for cost-effective protein-rich snacks, especially in poor countries such as Pakistan, Bangladesh, Zambia and others are anticipated to encourage the edible insect food products manufacturers to manufacture snacks made up of insect protein, which will further aid the growth of edible insects market.

 

Regional Insight:

North America is expected to hold the major revenue share in the global edible insects market over the forecast period, due to rising demand for sustainable feed in the region as well as higher adaptation of edible insects by the population of US and Canada. Rising concern over production and consumption of meat for fulfillment of protein requirement is driving the growth of edible insects market. Furthermore, presence of prominent players such as EnviroFlight and Aspire Food Group are contributing to the growth of edible insects market in the region. Asia Pacific region is projected to be the fastest growing region for the edible insects market, as the population in Asian countries such as China and India is increasing at a faster pace, which in turn is generating the demand for cost-effective nutritive food to feed the population. Availability of some insects such as beetles and crickets in abundance and their use in the production of food items such as smoothies and breads are driving the growth for edible insects market in the region.

 

Competitive Landscape

Key market players operating in Edible insects market include Haocheng Mealworm Inc., Reese Finer Foods Inc., AgriProtein Technologies, EnviroFlight LLC., Kreca V.O.F LLC., Ynsect, Exo Inc., Thailand Unique, Entomo Farms Ltd., Bitty Foods LLC, and Aspire Food Group. Prominent market players are focusing on merger & acquisition activities to strengthen their product portfolio and maintain their prominence in the market. For instance, in March 2018, Aspire Food Group, USA based company that specializes in edible insect farming technology acquired Exo Inc., manufacturer of protein bars made up of cricket. This merger aimed at combining Aspire’s farming operations with Exo’s product line to develop new products.

 

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Dairy Products Market: Introduction

Dairy products are the vital part of our lives which includes milk and milk products. Its numerous health considerations are largely attributed for its consumption. Dairy cattle are the true source of omega 3 acids, largely from cows which is considered better for heart and brain developments. The dairy products market is anticipated to witness prominent growth owing to the growing consumption patterns coupled with the rising population at global level. According to the International Dairy Federation, the per capita consumption inclined to 111.3 kgs in 2015 from 106.1 kgs in 2010, globally thereby accelerating the global dairy market.

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Market Dynamics

The rising demand butter and cheese across the globe is the key driver for the growth of dairy products market. According to USDA, the butter produced in 2014 accounted for more than 10,439 (in 1,000 MT), out of which butter consumed was 8,560 (in 1,000 MT). Butter products accounted for maximum consumption share in proportion to its production followed by butter oil and cheese. Therefore, it is anticipated that the consumption of butter and cheese is likely to increase in the coming years thereby, generating significant revenue in the dairy market. Furthermore, the clean label is a drive by the consumers that are demanding to have originality and transparency amongst the numerous products, particularly dairy products to reduce the synthetic chemicals and artificial ingredients. According to Packaged Facts National Consumer Survey, in 2017, the consumers aged between 18 to 34 years in the U.S. were highly concerned towards dairy milk products, cheese and plant milk including almond milk, coconut milk etc.  rising campaigns and awareness towards the betterment of dairy products amongst consumers is one of the key driving factor for the growth of dairy products market

However, numerous un-updated government policies towards changing demands and preferences pertaining to dairy products by policy markers across the regions such as the U.S., India, Bangladesh and others can act as restraining factor for the market. For instance, Margin Protection Program for Dairy (MPPD) in the U.S. was made back during the great depression, however, has not been updated till now which acts as barrier towards new innovations in the dairy market.

By Product Type

On the basis of product type, the market is segmented into cheese, butter, ice-cream & desserts, lactose free milk, yogurt, and others. Lactose free milk is expected to grow at a noticeable CAGR over the coming decade. The rise is mainly attributed to the increasing consumer awareness pertaining to the people’s health, coupled with rise in lactose intolerance among the population of various countries across the globe including India, the U.S., and other European countries. The population in these countries are consuming the dairy products rich in lactase such as fluid milk, cheese etc. As per the study by National Centre for Biotechnology Information (NCBI), lactose intolerance is found among 25% of the European population, along with several people of different countries. The high rate of lactose intolerance amongst population, globally has shifted the consumers preferences towards tofu, soya milk, almond milk, thereby, enhancing the scope of growth for the dairy product market.

By Application Type

Global dairy product market is segmented into bakery and confectionary, frozen food, clinical nutrition, and others. Bakery and confectionary are anticipated to have a major share over the forecast period majorly due to the increasing consumption of dairy products for manufacturing several products such as bread, milk chocolates, and biscuits, which largely consists of cream, milk, butter, etc. In the U.S., there are more than 2800 commercial bakeries generating revenue approximately US$ 30.0 billion along with retail bakeries with the revenue contribution of US$ 3.0 billion in 2017, as per Small Business Development Centre Network in the U.S. As the product demand increases in proportion with the production of bakery products, the dairy products market for bakery products is expected to grow over the projected period.

Regional Analysis

Asia Pacific is anticipated to be the fastest growing market pertaining to the growing demand for dairy products. According to the OECD FAO estimates, the dairy products, the demand of the Asian milk is perceived to reach to 320 million tons by the end of 2022, which is further expected to rise the milk availability to 40 million tones. Particularly, India is anticipated to be the largest producer of the fluid milk, and the production is estimated to reach 167 million metric tons by the end of 2018, according to Global Agriculture Information Network (GAIN). As milk is the key component of dairy products, the demand for dairy products is also predicted to enhance in this region over the projected period.

Competitive Landscape

The leading market players in the dairy products market include Nestle SA, Amul, Dairy Farmers of America Inc., Krafts Foods, Unilever, Fonterra Group, and Snow Brand Co. Ltd. among several others.

New innovations pertaining to dairy products in the dairy products market is one of the key strategies adopted by the key companies to attract the vast consumer population. To identify the taste buds, and also to meet the changing consumer preferences, Danone developed a program named Nutriplanet, which offers support to local producers to maintain the standards of various milk products. This program also helps the farmers with new farming techniques.

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Pea Milk Market: Introduction

Pea milk are plant based milk which is extracted from yellow peas which is a legume, found mostly in parts of Asia, North Africa, and Southern Europe. Pea milk market is expected to grow during the forecast period, due to its higher benefits compared to almond milk and soy milk. Pea milk contains the required nutrition such as vitamin D, protein, fat, and calcium for toddlers and infants, which provides a 50% more calcium and half the quantity of saturated fat from other milk alternatives. According to the U.S. Census Bureau, in 2017, the total number of children below the age group of 5 were 23.3 million in the United States, and is expected to grow to 24 million by 2026. Such factors are playing a major driving factor to the pea milk market and is expected to propel at a high rate during the forecast period. Furthermore, increasing parent’s preference towards vegan milk that does not contain lactose, soy, gluten, and are non-GMO provided products are further fuelling market growth. According to the National Center for Biotechnology Information, in 2017, the rise in vegan population is expected to be by 17% across the globe, which in turn is expected to reduce the content of ecological footprint (EF), water footprint (WF), and carbon footprint (CF), which accumulates to GHG emissions. Thus, the rise in vegan population is also expected to boost the pea milmarket during the forecast period.

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Consumers Shifting Focus towards Pea Milk from Other Milk Alternatives:

The pea milk market is expected to propel due to various benefits over conventional milk alternative products. Various supermarkets such as Publix, Shaw’s, Safeway, and others has incorporated pea milk products into their aisle lines which is further helping in gaining customer attention towards these products. This factor is expected to boost the purchasing rate of consumer from other plant based milk alternative products. Pea milk market is anticipated to be boosted as it is highly vegan, and are exclusive to any animal origin. Thus, vegan milk is expected to reduce the cost of animal breeding, maintenance, and others. According to the National Center for Biotechnology Information (NCBI), the overall maintenance cost for a farm of over 100 cattle is expected to cross 6.3 million per year excluding other cost. Thus, the surge for pea protein is expected to reduce animal husbandry cost for the country’s economy, coupled with its benefits of soy free, nut free, gluten free, and lactose free contents over other vegan milk products such as soy milk, almonds milk, oat milk, potato milk, and others. Additionally, major companies such as Google and others investing in the pea milk manufacturers are also expected to supplement market growth.

However, one of the major factors which is expected to hamper the pea milk market during the forecast period is the cost of pea milk products which is about 35 to 40% higher than other milk alternative products. For instance, the 48 FL oz. packet of pea milk is US$ 4.31, while the same packet for soy milk is US$ 2.21. Thus, this pricing difference is expected to hamper the pea milk market during the forecast period, due high extraction and operating cost of pea milk.

Regional Acumens:

Europe and North America is expected to be the most attractive market for pea milk throughout the forecast period from 2018 to 2025, while Asia Pacific is expected to be the fastest growing region for the pea milk market. Asia Pacific market is expected to be the fastest growing market due to increase in consumer demand for lactose free products coupled with non-GMO products in milk consumption. Liberalization of foreign direct investment (FDI) throughout the food segment, diet diversification, and rapid urbanization is expected to be some of the major factors for the growing demand for vegan milk products in Asia Pacific. Pea milk is expected to propel during the forecast period due to its major health benefits over cow or goat milk, such as resolving the problems of calorie concerns, lactose intolerance, prevalence of hypercholesterolemia, and cow milk allergy among others. Owing to these factors, the global pea milk market is expected to boom during the forecast period.

Market Players:

The market for pea milk products is expected to propel with various investments from major market players in and outside the food and beverage industry. For instance, in 2015, Google and other venture capitalists invested in Ripple Foods, who are into manufacturing of pea milk products, for over US$ 45 million.

Major players operating in the field of pea milk market include Ripple Foods, Bolthouse Farms, Nestlé S.A., Danone, among others.

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About Us:

Insights and Reports is a research and consulting group assisting the clients with 360-degree insights with real time qualitative and quantitative information. The Insights and Reports team is valued for continuous client-oriented services. Our data scientists monitor the markets pertaining to their expertise on a daily basis with the help of 150+ analysts to back them with accurate market studies.

Contact Us:

Insights And Reports

2201 Cooperative Way #600,

Herndon, VA 20171, USA.

Tel: +1 703 574 4447

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