Plant Growth Regulators Market is Growing Due to Growing Consumer Preference for Organic Foods

The report "Plant Growth Regulators Market by Type (Auxins, Cytokinins, Gibberellins, Ethylene), Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, Turf & Ornamentals), Formulation, Function, Origin, and Region - Forecast to 2022", The plant growth regulators market is estimated to be valued at 2.11 Billion in 2017 and is projected to reach a value of USD 2.93 Billion by 2022, at a CAGR of 6.8% during the forecast period. The market is driven by factors such as growing consumer preference for organic foods, new product registrations, increase in arable land and technological advancements in the agricultural industry.

The cytokinins segment accounted for the largest share of the plant growth regulators market in 2016

Based on type, the plant growth regulators market has been segmented into cytokinins, auxins, gibberellins, and ethylene. The cytokinins segment accounted for the largest share in 2016 as it slows down/prevents the leaf senescence such as leaf aging or leaf fall. Cytokinins are widely used in Asia Pacific countries.

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The water-dispersible & water-soluble granules, by form, accounted for a larger share of the plant growth regulators market in 2016

The water-dispersible & water-soluble granules segment accounted for a larger share of the global plant growth regulators market in 2016. They are most popular forms of plant growth regulators in the agricultural industry. They provide advantages such as easy to handle, non-toxic, and are more stable during storage and transportation.

The plant growth promoters segment, by function, accounted for a larger share of the plant growth regulators market in 2016

The plant growth promoters segment accounted for a larger share of the global plant growth regulators market in 2016. Some of the most popular plant growth promoters include auxins, gibberellins, and cytokinins. They help in growth and development during flowering, fruiting, root initiation, and overall increase in yield. Plant growth promoters are used in various fruit & vegetables to enhance the flowering process.

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The Europe region dominated the plant growth regulators market in 2016

In 2016, the Europe region led the global market for plant growth regulators. Factors such as rapid technical advancements, government encouragement for organic farming, and increase in crop production will drive the plant growth regulators market in Europe.

This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as BASF (Germany), Dow Chemical (US), Syngenta (Switzerland), FMC Corporation (US), and Nufarm (Australia). Other players include Bayer CropScience (Germany), Nippon Soda (Japan), Tata Chemicals (India), Valent Biosciences (US), Xinyi Industrial (China), ADAMA (Israel), Arysta LifeScience (France), Sumitomo Chemical (Japan), and WinField Solutions (US).

Demand for Meat Substitutes is Growing Globally Due to the Growing Awareness on Health Effects of Heavy Meat Consumption & Meat Adulteration

Market Driving Factors of Meat Substitutes:

The rise in trend of vegan diet among consumers, due to the growing awareness on health effects of heavy meat consumption and meat adulteration, and its significant impact on the food industry retail chain as ingredients in convenience food, ready-to-cook foods, and ready-to-eat foods, have boosted the demand for meat substitutes across the globe.

The meat substitutes market is projected to reach USD 5.96 Billion by 2022, at a CAGR of 6.6% from 2016. 

Market Ecosystem:

The various contributors involved in the value chain of meat substitutes include suppliers, manufacturers, wholesalers/distributors, retailers, and end users. Major manufacturing companies develop their in-house R&D centers for research and innovation activities to support their manufacturing units and to successfully introduce products with enhanced functionality in the market.

The meat substitutes market is dominated by key players such as Archer Daniels Midland Company (ADM) (U.S.), E. I. du Pont de Nemours and Company (U.S.), The Nisshin OlliO Group Ltd. (Japan), Soic Biochem Extractions Ltd. (India), and Garden Protein International Inc. (Canada). Other companies that also occupied a significant share in the market include MGP Ingredients Inc. (U.S.), Beyond Meat Inc. (U.S.), Amy’s Kitchen Inc. (U.S.), Quorn Foods (U.K.), and Morningstar Farms LLC (U.S.). Key companies of the market have been observed to largely adopt organic growth as their strategy to expand their businesses.

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Meat Substitutes Market by Type (Tofu & Tofu Ingredients, Tempeh, Textured Vegetable Protein, Seitan, Quorn), Source (Soy-based, Wheat-based, Mycoprotein), Category (Frozen, Refrigerated), and Region – Global Forecast to 2022

 Objective of the report:

• To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market
• To analyze the opportunities in the market for stakeholders and provide a competitive landscape of market leaders
• To analyze competitive developments such as mergers & acquisitions, new product developments, and expansions in the meat substitutes market

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 Highlights:

The soy-based meat substitute segment is projected to be the largest during the forecast period of 2016–2022

Soy-based meat substitute the most widely used meat substitute worldwide. Soy protein is derived from soybeans. The use of this soy protein as a functional ingredient is increasing in the food industry. Soy is used as a source of protein in meat substitutes such as tofu, tempeh, miso, textured vegetable protein (TVP), and other tofu ingredients. Soy meat substitutes are similar to meat, poultry, or fish products in terms of taste, texture, color, and form.

The frozen meat substitutes segment is projected to be the fastest-growing segment in the meat substitutes market

The frozen meat substitutes segment is projected to growing at the highest rate between 2016 and 2022. Frozen meat substitutes help to maintain the nutritional value of food products and retain the flavor and texture. Also, the frozen meat substitutes market is gaining popularity due to changes in purchasing patterns, coupled with fast life styles and the shift from traditional food to convenience food, from small grocery shops to supermarkets, especially in emerging countries such as BRICS and ASEAN. Consequently, significant growth in the convenience food industry, including ready-to-eat foods and ready-to-cook foods, has fueled the growth of the frozen meat substitutes market, globally.

Significant growth in the meat substitutes market is observed in the Asia-Pacific region

Growth in the middle-class population in the region, with increase in disposable incomes and demand for vegetable and nutrient foods are driving the growth of the meat substitutes market. The per capita consumption of meat substitutes in the Asia-Pacific region is driven by growing economies such as China, India, Australia & New Zealand, Japan, and South Korea. A large number of multinational companies have expanded their footprint in these countries, which has also driven the market for meat substitutes.

Fruit & Vegetable Processing Market is Growing due to Rising Demand for Convenience Foods & Growing Foodservice Industry

The report "Fruit & Vegetable Processing Market by Product Type (Fresh, Fresh-cut, Canned, Frozen, Dried & Dehydrated, Convenience), Equipment (Pre-processing, Processing, Washing, Filling, Seasoning, Packaging), Operation, and Region - Global Forecast to 2022", The global fruit & vegetable processing market is estimated to be valued at USD 245.97 Billion in 2017 and is projected to grow at a CAGR of 7.1% from 2017, to reach USD 346.05 Billion by 2022. 

The global fruit & vegetable processing market comprises the global fruit & vegetable processing equipment market and processed fruits & vegetables market. The market for fruit & vegetable processing is showing significant growth with the increase in the number of distribution channels such as supermarkets and hypermarkets and rising middle-class population & disposable income in developing economies such as China, India, and Mexico. The growing investments in automation development of processing technology along with freezing and packaging technology across the globe are the leading factors that contribute to the demand for fruit & vegetable processing equipment, worldwide.

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The fillers segment, by type, dominated the fruit & vegetable processing equipment market in 2016.

The fillers segment is estimated to account for the largest share of the fruit & vegetable processing equipment market in 2017. The rising demand for convenience, easy-to-carry, handle, and store products is driving the demand for automated filling systems and flexible filling technologies. The growth in demand for viscous and semi-viscous products such as tomato paste, fruit concentrates, jams, fruit pulp, and sauces is expected to drive the demand for fillers during the forecast period.

The fruits segment, by type, is projected to be the fastest-growing segment during the forecast period in the processed fruits & vegetables market.

The fruits segment is projected to grow at the highest CAGR during the forecast period, in the processed fruits & vegetables market, in terms of value and volume. Various nutritional benefits of fruits and initiatives by government & regulatory bodies such as WHO (Fruit and Vegetable Promotion Initiative) and USDA (Nutrition Assistance Programs) are some of the major factors responsible for the high demand for processed fruits in the market. Moreover, the growing number of supermarkets and hypermarkets that offer value-added fruits in emerging markets such as India, Brazil, Argentina, and East European countries also drives the growth of the fruits segment in the fruit & vegetable processing market.

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Asia Pacific is projected to be the fastest-growing market for processed fruits & vegetables and fruit & vegetable processing equipment.

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period followed by the South American region. Countries such as India and China are expected to be the major emerging markets for processed fruits & vegetables as well as fruit & vegetable processing equipment. The growth in the purchasing power and the wider availability of freezer units such as IQFs, increasing working population, growing number of distribution channels, and food service industry outlets such as McCain Foods, coupled with the government support in terms of foreign direct investment (FDI) and domestic policies are expected to drive the market growth in these regions.

Key Players

The market for fruit & vegetable processing equipment is dominated by key players such as Bosch (Germany), Buhler (Switzerland), GEA Group (Germany), JBT Corporation (US), and Krones (Germany), while the market for processed fruits & vegetables is dominated by Conagra Brands (US), Dole Food (US), Kroger (US), Olam International (Singapore), The Kraft Heinz Company (US), Albertsons (US) Greencore Group (Ireland), and Nestlé (Switzerland).