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Meat Substitute Market On The Rise

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According to a new report published by Allied Market Research titled, Meat Substitute Market by Product Type, Source and Category: Global Opportunity Analysis and Industry Forecast, 2018-2025,” the global meat substitute market size was valued at $4,175 million in 2017, and is expected to reach $7,549 million by 2025, registering a CAGR of 7.7% from 2018 to 2025. Europe dominated the global meat substitute market in 2017, accounting for 38.5% of the total revenue.

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The meat substitute market by product type comprises products prepared from tofu, tempeh, textured vegetable protein, seitan, quorn, and other plant-based sources. Textured vegetable protein (TVP)-based meat substitutes occupied the largest market share of 35.8% in 2017 as it is the basic ingredient in most of the soy-based meat substitute products. In terms of growth, Seitan-based meat substitutes are projected to exhibit an impressive CAGR of 9.4%, owing to increase in adoption in the food service industry.

Most of the food and snack products, marketed as meat substitutes are either frozen, refrigerated, or shelf-stable. Products offered by leading meat substitute companies such as Amys Kitchen, Beyond Meat, and others, primarily belong to frozen category. However, shelf stable category is projected to exhibit the fastest growth in the coming years.

Various categories of meat substitutes marketed by players include frozen, refrigerated, and shelf-stable products. Frozen meat substitutes occupied a prominent market share of 77.2% in 2017, followed by refrigerated and shelf stable meat substitute products. The shelf stable category is anticipated to exhibit the fastest CAGR of 9.1% from 2018 to 2025.

Key Advantages of the Meat Substitute Market:

    • In terms of value, the quorn-based segment is expected to grow at a CAGR of 8.5% during the forecast period.
    • Europe is expected to dominate the market, registering a CAGR of 7.3% in terms of value.
    • Asia-Pacific is projected to exponential growth in demand throughout 2025, growing at the highest CAGR 9.4%, in terms of value.
    • Soy-based segment is anticipated to dominate the global meat substitute market registering CAGR of 7.2%.
    • In the global meat substitute market, the shelf stable segment is expected to grow at a CAGR of 9.1%, in terms of value.

 

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IoT in Manufacturing Market Ogling $994 billion Billion

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The IoT in manufacturing global market is in its growth phase and is expected to witness an average growth rate of 13.1% during the forecast period, due to technological advancements and various machine-to-machine communication and cloud computing initiatives.

Allied Market Research recently published a report, titled, IoT In Manufacturing Market. According to the research, the IoT in manufacturing market was valued at $424 billion in 2016, and is expected to register a CAGR of 13.1% in the period of 2017-2023. The report is an essential tool to understand the current market trends and future market potential.

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The research offers an in-depth study of the overall market size, sales, and forecast of the market trends. It analyzes the scope of the market, regional analysis, key segments, revenue comparisons, and company profiles. The report is an essential source of information for stakeholders, business analysts, and entry-level organizations to understand the market growth.

The recent developments in technology and deployment of IoT technologies such as virtual reality and augmented reality have boosted the growth of the IoT in manufacturing market. Moreover, increased number of internet users, reduced costs of powerful controller & sensors, and rise in the government funding to develop new IoT-based applications supplemented the growth of the IoT in the manufacturing market. The rapid growth in communication & technology and bandwidth & connectivity drives the IoT in manufacturing market. The rise in smartphone usage in the developing countries in the Asia-Pacific regions will create lucrative opportunities in the near future.

The report includes in-depth analysis of segmentation and sub-segmentation of the IoT in manufacturing market. The market is divided into component, application, and geography. Based on component, the market is bifurcated into software and services, of which, IoT services has made remarkable growth in the recent years. Based on application, the market is divided into predictive maintenance, asset performance management, quality management, cognitive process & operations management, and supply chain management. According to the report, the market has shown an inclination toward cognitive process & operations management, which in turn boosted its CAGR of 16.9% in the period of 20172023. The report includes the detailed analysis of the market with respect to regions such as North America, Europe, Asia-Pacific, and LAMEA. The report compares the revenue generated in each region to understand the region-wise growth of the market. The countries showed the inclination toward IoT, which boosted the IoT in manufacturing market by a CAGR of 14.1%.

The IoT in manufacturing market report profiled the active leading companies to understand the strategies required to maintain the top position in the market. The key market players in the IoT in the manufacturing industry are Cisco Systems Inc., IBM Corporation, PTC Inc., SAP SE, Texas Instruments, Hitachi Ltd., Microsoft Corporation, Robert Bosch GmbH, Software AG, and Zebra Technologies. The report analyzes the revenue generated by each market player. In addition, these market players adopted various strategies such as mergers & acquisitions, new product launches to expand their business in the IoT in manufacturing market.

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Next Generation Storage Devices Market to Escalate with a Significant Revenue Growth by 2022

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Next Generation Storage Devices Market is expected to reach $141 billion by 2022. The cloud-based storage segment is expected to dominate the global market. North America accounted for 35% market share in 2014, while the European market is expected to witness significant growth rate during the forecast period.

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Next generation storage technology is a high-tech technology that provides improved data storage and management for various industries, such as BFSI, retail, IT & telecommunication, government, healthcare, manufacturing, and others. The market growth is driven by technological advancements, increased smartphone penetration, a rise in online transactions, lower cost of cloud computing platforms, and high internet penetration worldwide.

The cloud-based storage segment dominated the global next-generation storage devices industry in 2014, with around 38% share. However, the solid-state storage technology is gaining momentum, owing to its various advantages such as high performance and low noise creation over conventional data storage devices. Cloud-based storage is expected to grow at the highest CAGR of 18.7% during the forecast period, followed by solid-state storage.

The BFSI and IT & telecommunication segments collectively accounted for around 35% share of the total market revenue in 2014, while the government segment is anticipated to grow at the highest CAGR of 18.1%. The BFSI next-generation storage devices market is expected to grow at the second highest CAGR of 17.8%, owing to the surge in digitization, increase in online banking activities, and rise in adoption of private and hybrid cloud in the sector.

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Key Findings of the Next Generation Storage Devices Market:
• The cloud-based storage segment dominated the overall next-generation storage devices market, in terms of revenue, and is projected to grow at a CAGR of 18.7% during the forecast period.
• The cloud storage system segment dominated the global next-generation storage devices market in 2014, and is anticipated to grow at the highest CAGR.
• The software-defined storage segment is expected to grow at the second highest growth rate of 17.7%.
• IT & telecommunication generated the highest revenue in 2014, while the government sector is estimated to grow at the highest growth rate of 18.1%.
• In 2014, North America was the dominant region, while Europe is projected to grow at the highest CAGR, with rest of Europe market being the major contributor.

Key players operating in the next generation storage devices market include Dell, Inc., HPE Company, Hitachi Ltd., IBM Corporation, NetApp, Inc., Nutanix, Inc., Oracle StorageTek, Pure Storage, Inc., Tintri, Inc., and Toshiba Corp.

Crop Micronutrients Market to Upsurge with a Significant Growth by 2025

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Crop micronutrients are essential elements for plant growth and play an important role in balanced crop nutrition. The lack of micronutrients can lead to various diseases in plants such as chlorosis, yellowing of leaves, gummosis, and others that can reduce the quality and quantity of plants. Crop micronutrients maintain the nutrient level in crops & soil to enhance the productivity and growth of crops. These nutrients find extensive applications in agribusiness, thereby driving the crop micronutrients industry.

The global crop micronutrients market is projected to reach $11,532.36 million by 2025, registering a CAGR of 8.3% from 2018 to 2025. In 2017, the soil application segment accounted for more than 50% share of the global crop micronutrients market in terms of value.

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Crop Micronutrient Market

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Micro-nutrients act as enzyme co-factors and building blocks that enable plants to build complete proteins and compounds. They also aid in the development of large, strong roots, and boost immunity of the plant. Growth in awareness about benefits of micronutrients among farmers & growers, increase in demand for healthy & nutritious food, surge in demand for biofuels fuel the global crop micronutrients market.

In terms of value, Asia-Pacific and LAMEA collectively contributed xx share in the global crop micronutrients market in 2017. The key players operating in the crop micronutrients market are Akzo Nobel N.V., Aries Agro Ltd., Baicor, L.C., BASF SE., Compass Minerals International, Inc., DowDuPont Inc., The Mosaic Company, Nutrien Ltd., Western Nutrients Corporation, and Yara International.

Artificial Intelligence Market: Size, Share and Industry Analysis 2025

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The artificial intelligence market accounted for $4,065.0 million in 2016, and is expected to reach $169,411.8 million by 2025, growing at a CAGR of 55.6% from 2018 to 2025.

AI is associated with human intelligence with similar characteristics such as language understanding, reasoning, learning, problem-solving, and other. Manufacturers in the market witness enormous underlying intellectual challenges in the development and revision of such a technology. The market for artificial intelligence is primarily driven by the improved productivity, diversified application areas, increased customer satisfaction, and big data integration. However, lack of skilled workforce and threat to human dignity & other threats are some of the restraints of the market. Nonetheless, the impact of these factors is expected to be minimal due to the introduction of new technologies in the market.

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Artificial Intelligence Market

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The machine learning segment secured the highest share of about 52.0% in the artificial intelligence market in 2016 and is expected to grow at a CAGR of 56.4% during the forecast period. In terms of industry vertical, IT & telecom sector is expected to contribute the highest market share in the coming years, as various new startups are investing in artificial intelligence solutions. Moreover, the rapid urbanization, technological advancement, and increase in demand for cloud applications has fueled the demand for AI technologies in developing economies.

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The major players, such as Alphabet (Google Inc.), Apple Inc., Baidu, IBM, IPsoft, Microsoft Corporation, MicroStrategy, Inc, NVIDIA, Qlik Technologies Inc., Verint Systems Inc (Next IT Corp), have focused on developing new products as well as these companies expanded their business by acquiring small businesses to deal with competitors.

Curcumin Market Upsurges with a Stupendous Growth by 2025

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The global curcumin market is projected to reach $104.19 million by 2025, registering a CAGR of 8.9% from 2018 to 2025.

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Curcumin is a bioactive compound found in turmeric, known for its powerful medicinal and therapeutic properties. It has been used as a spice and medicinal herb for thousands of years in Asian countries such as India, Thailand, Indonesia, and others. Owing to its anti-inflammatory, antioxidant, and cartilage building properties curcumin finds extensive applications in the cosmetic and pharmaceutical industry. Medicines containing curcumin extracts are used for the treatment of numerous diseases and health problems such as wound healing, treating sprains, arthritis, liver problems, diabetes, gastric problems, Alzheimer, and migraine. Curcumin extracts have been formulated in many skin care applications in the form of skin creams, ointments, powder, and others. It helps to heal and prevent dry skin, treat skin conditions such as eczema and acne, and delay the aging process. Thus, the increase in the use of curcumin in the cosmetic and pharmaceutical industry has propelled the curcumin market growth in recent years.

Curcumin Market

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The focus of food manufacturers is mostly on incorporation of curcumin in food products, which is expected to provide ample opportunities for curcumin industry. Other factors such as rise in living standards, increase in preference for healthy & natural food products, rapid urbanization, and surge in demand for ayurvedic and herbal skincare products have an indirect positive influence on the growth of the global curcumin market.

In terms of value, Asia-Pacific and LAMEA collectively contributed one-fifth share in the global curcumin market in 2017. The key players operating in the curcumin market are Biomax Life Sciences Ltd., Synthite Industries Ltd., BioThrive Sciences, Konark Herbals & Health Care, Arjuna Natural Extracts Ltd., SV Agrofood, Star Hi Herbs Pvt. Ltd., NOW Health Group, Inc., Phyo life Sciences, and Herboveda India Pvt. Ltd.

Sorghum and Sorghum Seeds Market to Upsurge with a Significant Growth

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The sorghum and sorghum seeds market was valued at $8,279 million in 2016, and is projected to reach $10,591 million by 2023, growing at a CAGR of 3.6% from 2017 to 2023. The grain sorghum segment accounted for nearly half of the global market in 2016.

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Sorghum is a versatile crop, which belongs to the grass family Poaceae. Sorghum can be grown as a forage, grain, or sweet crop and is among the most efficient crops in conversion of solar energy into chemical energy, use of water, and is known as a drought tolerant, high energy environmentally friendly crop. Several species of sorghum is grown for grains while other species are used as fodder plants, which is either naturally grown in pasture lands or is cultivated in large areas. Depending upon the variety of sorghum species, it can be used for grazing pasture, hay production, and green chop. Forage sorghum is the most popular species, which is widely used as silage for livestock feeding. Biomass sorghum species are widely used in the production of bioenergy worldwide. Sweet sorghum is primarily cultivated for producing sorghum syrup to be used as a healthy alternative sweetener for alcoholic beverages and for chemical production and biofuel.

Increase in demand for sorghum as an alternative sweetener for various alcoholic beverages is one of the key factors that drives the growth of the market. Also being a versatile crop, sorghum is used in various rapidly growing markets such as fencing, floral arrangements, pet food, building material, and others, which is another factor that drives the growth of the global sorghum and sorghum seeds market. Moreover, increase in demand for biofuel and rise in prices of crude oil and fossil fuels is further anticipated to bolster the demand for biomass sorghum during the forecast period. However, increase in number of alternatives as well as changes in consumer preference might hamper the market growth.

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Sorghum and Sorghum Seeds Market

The grain sorghum segment accounted for nearly half of the global market, in terms of volume, in 2016. The demand for sorghum has increased due to increase in demand for cost-effective livestock feed as well as increase in demand for biofuel and ethanol. Thus, increase in requirement of forage sorghum in livestock feed application and rise in demand for sweet sorghum for artificial sweeteners is expected to drive the market growth.

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Key Findings of the Sorghum And Sorghum Seeds Market:

  • The biofuel and ethanol segment is anticipated to grow at the highest CAGR during the analysis period.
  • The human feed application segment accounted for the highest share in the market and is anticipated to maintain its dominance throughout the forecast period growing at a CAGR of 3.8%.
  • LAMEA is projected to maintain its lead position from 2017 to 2023, growing at a CAGR of 4.3%, in terms of volume.
  • The grain sorghum segment occupied for nearly half of the total market in 2016.
  • China occupied for around one-fourths of the Asia-Pacific market in 2016.
  • In terms of value, South Africa is expected to grow at a significant CAGR of 4.0% during the forecast period.

In 2016, Asia-Pacific and LAMEA collectively accounted for nearly 70% of the global market, in terms of volume, and are expected to continue this trend during the forecast period, owing to increase in demand for gluten free food, especially in China, India, Brazil, and other developing countries. Moreover, development of the livestock feed industry, increase in per capita income, and growth in overall consumer expenditure drive the growth of the LAMEA market.

The major companies profiled in the report include National Sweet Sorghum Producers & Processors Assn, National Sorghum Producers, Sorghum Forum Of South Africa, Shri Lal Mahal Group, Richardson Seeds, Mabele Fuels, Advanta Seeds US, DuPont, Archer Daniels Midland, and Ingredion.