According to the Fact.MR report, the functional flour market space can be characterized by hegemony of a few leading companies having global and regional reach. However, the functional flour market structure also demonstrates wide-spread presence of small-sized companies predominantly operating across local markets.

“The leading players of functional flour market, albeit having robust product portfolios and excellent operational efficiencies, will eye on niche categories to expand their reach. Moreover, the leading companies will also continue to focus on strategic collaborations, such as mergers and acquisitions, with the small players to boost their production abilities and gain substantial profits”, says Fact.MR analysis.

Wheat will continue to be the highly-preferred raw material over all other types and the status quo is unlikely to change over the forecast timeline, opines the Fact.MR study. The buoyancy of wheat in the functional flour market can be accredited to its thiamin, niacin, iron, and vitamin B6 richness. According to the report, consumers will continue to show noticeable preferences for genetically modified functional flour over the forecast period, driven by positive perceptions of genetically-modified foods and associated health benefits.

As per the Fact.MR analysis, North America is likely to emerge as a highly profitable region for the participants of functional flour market, with the US and Canada spearheading demand. Increasing adherence to healthy diets remains a key aspect boosting lucrativeness of these regions, with consumers willing to pay more for health-benefitting and functional foods and ingredients.

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Evolving Dietary Preferences to Create Untapped Potential for Manufacturers

Spurring demand for bakery delicacies, such as buns, breads, and cakes, is one among the key factors boosting adoption of functional flour. Bakery products, especially breads and buns, remain staple across majority of developed regions, such as North America and Europe, supporting sales of functional flour in these regions. Availability of breads and buns in whole wheat & multi-grain variants is attracting consumers to indulge in multiple varieties, creating favorable grounds for growth of functional flour market.

As per the Fact.MR report, evolving dietary preferences and rising consumer willingness to spend on healthy foods are among the key aspects amplifying growth of functional flour market across emerging economies. Moreover, consumers actively embracing food habits of the Western cultures seek high-quality breads with enriched ingredients, including functional flour. Rising preferences for multiple varieties of functional flour, such as rye flour, soy flour, and oat flour, over the conventional variants remains a key trend having deep-rooted impact on growth of functional flour market, finds the Fact.MR research study.

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The upward trend of preference for gluten-free or low-gluten foods will continue to fuel investments in functional flour. However, volatility in prices of grains resulting in lower profit margins for millers is dissuading their zeal for producing larger volumes of specialty flour. Moreover, decline in demand for flour, on account of health reasons, and rapid switch to value based processed food items are foreseen to collectively challenge growth of functional flour market

Fact.MR report on disposable cutlery market opines that disposable cutlery is likely to witness wide sales owing to the paradigm transition in consumer preference for low cost, grab-and-go, and easy-to-carry food packaging options. Further, the disposable cutlery market report perceives that it isn’t feasible for brand owners and manufacturers to offer completely biodegradable plastic-based disposable cutlery. Additionally, the disposable cutlery market will also witness traction on the back of disposable cutlery’s functional attributes, including lightweight, cost-effectiveness, and convenient features, which are expected to create opportunities for manufacturers to tap.

The rapidly growing takeaway trend has prompted beverages and food chains to alter their delivery ways to cater to consumers’ shifting preference, thereby proving key sales prospects for disposable cutlery manufacturers. Changing lifestyle and increasing demand for online food delivery services are also causing a substantial rise in the adoption of disposable cutlery for food packaging.

The lucrative opportunities created by ‘away from home’ food consumption are gradually accelerating, leading to the growth in sales of disposable cutlery used for serving food. The on-the-move food consumption consumer patterns have been significantly influenced by the fast-paced lifestyle in recent years. According to a study, an average urban-area resident in America eats outside roughly 14 times in a month, which in turn is translating into a surge in the demand for disposable cutlery. Additional, an independent survey conducted in China found that the country’s online food sector is likely to grow by 30% in the forthcoming years, thereby paving way for higher sales of disposable cutlery, while positively impacting the growth of global disposable cutlery market.

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As consumers increasingly become aware about the potential health impact of using plastic-based products, such as disposable cutlery, manufacturers are focusing on creating green and edible disposable cutlery made of sorghum, corn, wheat bran, and rice, while reducing CO2 emissions considerably. The consumers’ willingness to spend more on green products has further triggered the production and demand for wood made disposable cutlery. Wood made disposable cutlery is witnessing demand in disposable cutlery market due to environmental issues pertaining to the disposal of plastic disposable cutlery. Disposable cutlery manufacturers are targeting single-person households who are mostly relying on on-the-go food items.

Geographically, as per the report, global disposable cutlery market is likely to witness an elevated level of consumer preference and popularity mainly in the regions, including Asia Pacific, Western Europe, and North America. Disposable cutlery manufacturers are eyeing the brimming potential growth opportunities offered by Asia Pacific disposable cutlery market, which is accelerating as consumers’ sense the hygiene value of disposable cutlery over traditionally used metal cutlery. The plethora of food hubs, instant delivery restaurants, in tandem with growth in enhanced public infrastructure are some other factors which are likely add to the growing disposable cutlery traction in Asia Pacific during the foreseeable period. The region is also expected to lead disposable cutlery market growth, undergird by substantial increase in disposable income of the middle class.

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In recent years, marine scrubber systems have gained much traction among ship owners and operators, on the back of their ability to treat exhaust gas released from engine or boiler by eliminating harmful sulphur dioxide gas content (SOx) and particulate matter (PM) sourced pollutants.

According to Fact.MR report on marine scrubber systems market, ship operators and owners are increasingly adopting marine scrubber systems to comply with prevailing and impending regulations on sulphur quantity allowed in fuel, to be imposed by IMO (International Maritime Organization). Since 2015, there has been a decline in sulphur cap to .1% in some designated emission control areas (ECA), however, the cap is set to decline further with the implementation of .5% sulphur cap on maritime vehicles starting from 1st January 2020.

Amid the growing sulphur related regulations, ship operators and owners are propelled to adopt either marine fuels containing low sulphur content, or retrofit or install marine scrubber systems for the treatment of toxic emissions caused by densely used fuel oil with high sulphur content. The report on marine scrubber systems market opines that extensive difference between the pricing of affordable fuel oil with high sulphur content and expensive fuel oils containing negligible sulphur content has been prompting ship operators and owners to retrofit marine scrubber systems on marine vehicles. A considerable number of ship owners are retrofitting their vessels with marine scrubber systems to comply with impending international regulations following the 2020 deadline, while using high sulphur fuel oil.

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However, as per marine scrubber systems market report, the new-build application segment is also likely to witness comparatively fast growth as many fleet owners with new ship constructions on order are choosing to install marine scrubber systems on their vessels, which costs less as compared to retrofits that may be required later. According to the Fact.MR report on marine scrubber systems, retrofit segment is likely to create absolute $ opportunity valuing US$ 6.8 billion during the foreseeable period, on back of the boost gained by tight timelines ahead of impending regulations deadline.

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As per Fact.MR report on marine scrubber systems market, in technology segment, the wet marine scrubber systems are likely to remain dominant in marine scrubber systems market by accounting for a healthy market share. The report estimates that it will account for over 90% share of the total absolute dollar opportunity in marine scrubber systems market by 2028-end. Ship operators and owners have been adopting open loop wet marine scrubber systems, however, as per the report marine scrubber systems market for the hybrid variants is also likely to witness comparatively healthy growth.

The Fact.MR report on marine scrubber systems market envisaged that based on market value, the worldwide marine scrubber systems market is envisaged to value over US$ 11Bn during 2018-2028.

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Anti-caking agents which prevent the formation of lumps in powdered fertilizers are expected to hold a substantial share of the fertilizer additives market. These agents are composed of fats and oils which prevent the interaction between atmosphere and fertilizer particles.

Manufacturers are finding anti-caking agents increasingly effective as the absence of lumps in fertilizers aid them in effectively handling, packaging, and transporting fertilizers. Further, the absence of anti-caking agents in fertilizers can cause agglomeration which prohibits the material from evenly distributing in the fields and hence results in wastage. Additionally, agglomeration of fertilizers can block flow passages of machines used for distributing fertilizers, clearing which incurs hefty costs. The recent research by Fact.MR opines that these factors are vital drivers of the growing demand for anti-caking agents which accounted for over 50% of the fertilizer additives market share in 2018. Additionally, the introduction of organic anti-caking agents for use in fertilizer manufacturing is further estimated to bolster market growth as demand for organic substances continues to proliferate in the agrochemicals market.

Burgeoning Demand for Nitrogen-based Fertilizers to Uphold Fertilizer Additives Market Growth

Nitrogen is a key element which is required in a plethora of metabolic functions in plants. Being an essential component required in the production of amino acids, nitrogen-based fertilizers influence protein production in plants and aid in increasing the crop yield of the soil owing to which demand for such fertilizers is on the rise. The Fact.MR study suggests nitrogen-based fertilizers will continue gaining increasing penetration with their widespread adoption in the production of fruits, horticulture, fodder crops, and oilseeds. A recent instance that alludes to the growing popularity of nitrogen-based fertilizers was when it was reported that there was a shortage of nitrogen fertilizers in the US in August 2018.

The robust demand for nitrogen-based fertilizers can potentially open gateways to new opportunities for manufacturers with a focus on developing additives that could enhance the effective consumption of nitrogen in crops.

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Growing Environmental Concerns to Bolster Sales of Dust Suppressants

Fertilizers are usually packaged and transported in the crystalline, granular, or powdered forms during which they can break into dust. The dust particles are light enough to be dispersed by even weak air currents. Furthermore, the dispersion of fertilizer dust particles can cause an assortment of problems related to environmental compliance, worker safety, and damage to the warehousing equipment. In addition to this, the tendency of fertilizers to break into dust increases with time while longer storage periods further intensify the problem. The fertilizer dust also poses a danger of spontaneously burning into flames which could be dangerous to both life and property. The plethora of problems that fertilizer dust can cause is a vital factor that is creating an increase in the demand for dust suppressants. Currently, numerous variants of fatty and mineral oils are used to suppress dust formation. However, the scope for innovation in the area still exists which is prompting fertilizer additive manufacturers to research for effective fertilizer dust suppressants.

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Currently, North America holds a significant share of the fertilizer additives market owing to the presence of multiple prominent players. Further, stringent regulations imposed on fertilizer usage in the region is a vital factor that is upholding the growth of the fertilizer additive market in the area. However, Asia Pacific Excluding Japan is estimated to witness the fastest growth during the forecast period owing to the development of economies and existence of largely agricultural dependent countries in India, Pakistan, and China in the region. Growing demand for nitrogen-based fertilizers in the region is further expected to fuel fertilizer additives market growth.

Steady growth of the global heavy duty bags & sacks can be attributed to the advantages of these bags including low thickness, high strength, excellent durability as well as reusability. With an ability to uphold greater volume of materials, preference for heavy duty bags & sacks is increasing across a number of end-use industries such as agriculture, chemicals & fertilizers, food & beverages, and others. These key factors are expected to be highly impactful on the expansion of heavy duty bags & sacks market.

Moreover, these bags are highly customizable and can be manufactured according to consumer requirements. Such flexibility increases the demand for heavy duty bags & sacks as the most effective packaging solution in several industrial sectors.

Plastic to Remain Dominant Material in the Global Heavy Duty Bags & Sacks Market

Based on material type, plastic is expected to maintain its superiority in the global heavy bags & sacks market, accounting for around 55% of value share, over the period between 2018 and 2028.

Plastic-based heavy duty bags & sacks are not only waterproof but also highly reliable for agricultural packaging, which in turn is predicted to act as catalysts to accelerate the growth of global heavy duty bags & sacks market.

However, stringent regulations against the use of plastic by government organizations in several countries may create hindrance in the demand for plastic as a material of choice in heavy duty bags & sacks market.

On the basis of capacity type, 20-40 kg heavy duty bags & sacks are projected to witness the maximum demand over the forecast period, backed by their ease of storage and transportation. With growing demand for bags under this capacity in automotive, construction, and other industries, the global heavy duty bags & sacks market is expected to gain high traction in the coming years.

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Industrialization to Promote Growth of Heavy Duty Bags & Sacks Market in APEJ

Rapid growth in industrialization and construction activities, especially in emerging economies such as China and India, are likely to boost the demand for heavy duty bags & sacks in APEJ, which is anticipated to outperform Western Europe as the most lucrative region for the market through 2028.

Although the global heavy duty bags & sacks market has been forecast to maintain a positive outlook over the forecast period, more availability of alternative options such as flexible intermediate bulk containers (FIBCs) will may negatively affect the market. These containers are gaining increasing momentum among various end users of heavy duty bags & sacks, for their ability handle more heavy weight. Shift in preference toward bulk bags and their increasing demand from end users and organizations may become a daunting challenge for leading players in heavy duty bags & sacks market.

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Competitive Landscape

Leading players of heavy duty bags & sacks market are focusing on expanding at global level through mergers and acquisitions. For instance, in May 2016, Novolex acquired a plastic and plastic based products manufacturer, Heritage Bag Company based in Roanoke, Texas. It helps companies leverage expertise of the acquired firms to improve their products and services portfolio.

Some of leading players participating in the global heavy duty bags & sacks market are Mondi Group, Novolex, Nihon Matai Co., Ltd, Seevent Plastics Ltd., Wooderson Packaging Ltd, Segezha Group LLC, LC Packaging International B.V., Berry Global, Inc., MegaSack Corporation, Global-Pak Inc., Al-Tawfiq Company, Muscat Polymers Pvt. Ltd, ProAmpac LLC, Sonoco Products Company, Amcor, Bemis Company, Inc., TMR Woven Bags and Sacks, and Wenzhou SMOO Bags.

The Fact.MR study opines plastic to remain the material of choice for marine seats manufacturers, as they continue to prefer use of plastics over steel and metal composites for production of boat seats, in line with the upward trend of lightweighting in the boating industry. High corrosion resistance and chemical inertness are key attributes of plastic continue to drive its demand for production of various marine components and marine seats are no exception.

Ductile, malleable, and elastic properties of plastics are being leveraged by manufacturers to produce foldable marine seating, which is gradually gaining traction for use in recreational boating activities such as fishing. Plastic marine seating accounted for over 40% of the market volume share in 2018.

Enhanced Comfort and Aesthetics Continue to Remain Developmental Focus Areas of Marine Seats Manufacturers

Comfortable marine seating has been gaining a significant palpability in the recent past, which has prompted marine seats market players to focus on developing novel solutions, keeping consumer convenience at the forefront. Sailors and crew onboard marine vessels have been complaining of developing back problems, and sustaining injuries due to the pounding impact of waves even in shallow waters.

Surveys have suggested absence of stable seating in boats to create problems for sailors even while navigating in calm waters. Water sporting events such as water skiing and paragliding require boats to travel at great speeds, which increases the susceptibility of drivers getting injured during the process.

Leading players in the marine seats market are focusing their efforts toward enhancing the suspension systems of their marine seats, in order to provide a comfortable ride and capitalize on the pervasive trend. For instance, Shockwave, a leading company in developing marine suspension seating, launched the integrated control environment that could house controls, electronics, and occupants and safeguard them from the pounding impact of waves from all directions significantly improving safety and enhancing the ability to operate the vessel during extreme weather.

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There has been a significant rise in popularity of recreational boating in recent years, which has proliferated sales of luxurious yachts, boats, and cruise sales as a consequence. On the other hand, consumers who already own boats are increasingly investing in renovating their vessels to suit their needs. These factors have created a surge in the demand for custom-built marine seats with pleasant aesthetics.

Numerous companies are concentrating on the customized solutions, to capitalize on the growing demand. For instance, a company renamed itself from Hydra-Sports Custom to HCB Center Console Yachts to reflect its plan of delivering customized yachts manufactured according to the customers’ requirements. The recent study published by Fact.MR suggests the trend will play a key role in shaping the industry.

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The study estimates that demand for boats in Europe will continue to burgeon, as the European Union is increasingly converging its efforts towards enhancing the coastal and maritime tourism in the continent. In addition, the presence of multiple inland waterways and the region’s proximity to marine waters is estimated to play a vital role in the proliferation of the marine seats market.

According to a recent report by the European Boating Industry, more than 48 Mn people participate in water sports in the region every year, a figure which is gradually increasing. France, Italy, the UK, and Germany are the main countries contributing significantly to the robust market growth in the continent.

North America remains at the forefront of the marine seats market, registering sales of over 1.8 Bn units in 2018. Resurgent growth of the recreational boating industry, coupled with the rising popularity of boat shows in the region, are the vital reasons that are upholding the marine market growth in North America.

The global rail gangways market is expected to be valued at US$ 392.8 million in 2018, expanding at a significant CAGR of 4.9% over the forecast period (2018-2028). Rising investments in railway developments and upcoming metro rail projects are likely to complement future expansion of the market which has been foreseen to attain a value of US$ 634.0 million by 2028-end. Further, the rail gangways market is anticipated to create incremental $ opportunity worth US$ 241.3 million throughout the assessment period.

Development in Rail Activities to Offer Lucrative Opportunities

Developing regions including China and SEA & Pacific are heavily investing to provide support in the development of rail activities which will serve as a catalysts for the overall growth of rail gangways market. In addition, increase in rolling stock is likely to create lucrative opportunities for suppliers of rail gangways during the forecast period.

Changing travelling medium along with rapid consumer inclination toward the economical public transportation systems such as trains and metros will continue to shape the future of global rail gangways market. However, increasing attractiveness of air travel and significant growth of automobiles for both short and long trips will possibly remain daunting challenges for key market players.

Western Europe to be at the Forefront of Global Rail Gangways Market

In terms of market value share, the global rail gangways market is expected to remain concentrated in Western Europe, followed by China which is likely to account for maximum share in term of sales during the forecast period of 2018-2028.

South East Asia & Pacific is estimated to project incremental $ opportunity worth nearly US$ 30.6 million, while rail gangways market in Latin America and Japan are anticipated to expand at an above average rate throughout the forecast period.

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Two Piece Rail Gangways to Reign Supreme over the Counterpart

Based on the product type, two piece rail gangways are estimated to be valued at US$ 312.5 million by 2018-end, holding the highest value share of global rail gangways market. Single piece rail gangways, on the other hand, are projected to account for the lowest share of 30% of unit sales in the rail gangways market at global level.

With an estimated sales of 206,747 units by the end of 2028, aluminum rail gangways will witness maximum demand throughout the forecast period. In addition, manufactures are focusing on the development of steel rail gangways which are expected to create incremental $ opportunity worth around US$ 85.0 million. Further, the global demand for composite rail gangways is likely to grow at a remarkable rate during the forecast period.

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Based on train type, the passenger train segment will continue to maintain its dominance in the global rail gangways market. However, due to penetration of new technologies and innovations, this segment is likely to witness a passive growth over the forecast period, while high speed train segment is anticipated to create a prominent incremental $ opportunity worth US$ 52.2 million between 2018 and 2028. The passenger train segment is predicted to be valued at US$ 340.9 million by 2028-end in the global rail gangways market.

Global Rail Gangways Market: Competitive Landscape

Key players operating in the global rail gangways market are Hutchinson, Hubner GmbH & Co. KG, Bellow and Bus (Pty) Ltd., Chongqing Hengtai Electromechanical Equipment Co., Ltd., Schliess- und Sicherungssysteme GmbH, Airflow Equipments (India) Pvt. Limited, ATG AUTOTECHNIK GmbH, Dellner Couplers AB, Narita Mfg. Ltd., KTK Group, Qingdao Victall Railway Co., Ltd, Kasper Elektronik GmbH, Korea Railway Parts Co Ltd, and Vulcanite Pty Ltd.

The fast-paced lifestyles in tandem with easy availability of fast food have altered the food habits of consumers, who now find it convenient to consume ready-to-eat and packaged food products. Processed food and beverage products demand proper preservation using viable techniques and harmless ingredients to remain fresh for long duration of time without getting spoiled.

Due to the potential health impact of chemical ingredients used in food preparation and processing, F&B manufacturers are shifting from synthetic or artificial food preservatives to safer, natural food preservatives in their offerings. This paradigm shift is poised to fuel adoption of natural food preservatives, as per Fact.MR study. This trend is further accelerating due to the imposition of stringent regulations by varied governments across the globe against the use of artificial or synthetic food ingredients, which has led to a ban on synthetic or artificial food preservatives in F&B sector. The natural food preservatives market report opines growing regulations on synthetic ingredients as another key driver boosting revenue growth of worldwide natural food preservatives market.

“Regardless of improved food properties, artificial ingredients continue to be a concern among consumers. Manufacturers in F&B industry are in a challenging state as they need to cater to the growing demand for natural or no-preservative products, while considering the repercussions of alleviating additives and preservatives, which can increase the product spoilage rate and decrease shelf life. This is propelling them to adopt natural food preservatives to maintain position in the market and expand customer outreach”, finds Fact.MR.

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Fact.MR report on natural food preservatives market opines that considerable market penetration is driving the introduction of novel products composed of easily available natural food preservatives. The leading players in natural food preservatives market are responding to such opportunities by extending their offerings and introducing novel products, which is further fueling the stake of natural food preservatives across the globe. As per natural food preservatives market report, the high nutritional value of natural food preservatives is also fueling the global sales of natural food preservatives. Additionally the rise in product development in tandem with advancing research are other main factors expected to drive growth in natural food preservatives market. 

While using natural food preservatives in F&B products is beneficial for health, cost has been identified to be a key restraint hindering the growth in natural food preservatives market. The high costing of natural food preservatives in comparison to their synthetic counterparts, continue to make it challenging for the manufacturers to gain the attention of a wider consumer base. Natural food preservatives sourced from organic sources, such as vegetables, fruits, and certain kinds of plants are priced as per the availability of raw materials. The report on natural food preservatives market opines that the fluctuating prices of natural food preservatives’ ingredients are impacting the operational efficiencies in the natural food preservatives market.  As per the report, the emergence of novel and highly innovative food preservation technologies are likely to render traditional preservation techniques obsolete during the forecast period.

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The leading companies in natural food preservatives market are getting involved in several expansion and growth strategies to gain a competitive advantage. They are also following value chain integration with business operations in different stages of the value chain. As a result of the rapidly changing trends and manufacturing tactics, the natural food preservatives market is expected to witness tremendous changes during the forecast period. According to Fact.MR report on natural food preservatives market, the growth trajectory of natural food preservatives market is envisaged to witness 5.1% CAGR between 2018 and 2028.

HFCs Phase-out and Strict Environmental Regulations Remain Key Influencing Factors

According to Fact.MR’s study, penetration of hydrofluorocarbons (HFCs) continues to remain high despite growing research on its harmful impact on the environment. Taking into consideration the environmental impact of HFCs, regulations on its use have become stringent over the years. According to Fact.MR’s study, these factors are likely to provide an impetus to the growth of low GWP refrigerants market in the near future.

An increasing number of developed as well as developing countries are implementing a regulatory framework that puts a check on the production and use of HCFs. Initiatives such as the Montreal Protocol, European Union’s F-gas regulations, and the US Significant New Alternatives Policy (SNAP) program have been successful in curtailing the use of HCFs in a range of applications. The ripple effect of these initiatives and regulations has bolstered the case for low GWP refrigerants, according to Fact.MR.

HVACR Industrial Applications Hold the Highest Share

Refrigerants are the workhorse of the HVACR industry and leading industry players are promoting the adoption of environmentally sound practices with the phase-out of some high GWP refrigerants. The exponentially growing HVACR industry is expected to remain the bedrock for the low GWP refrigerants market with a substantially high demand in refrigeration applications.

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The Fact.MR study finds that the refrigeration applications of low GWP refrigerants accounted for a massive 63% share in the low GWP refrigerants market revenue, equaling over US$ 11.4 billion in 2018. As the adoption of environment-friendly alternatives to high GWP refrigerants is burgeoning in refrigeration applications, the Fact.MR study predicts that demand for low GWP refrigerants will continue to remain high in the foreseeable future.

However, leading manufacturers in the low GWP refrigerants market are increasing their focus on burgeoning demand for low GWP refrigerants in various other applications including chillers. Top-tiered stakeholders in the low GWP refrigerants market, such as The Chemours Company and Daikin Industries Ltd., recently declared their strategies to capitalize on rapidly growing needs for low GWP refrigerants in chillers along with air conditioning applications.

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Dramatic Acceleration of the HFC Phase Down in Europe will Create Lucrative Opportunities

The European Union has stringent environmental policies, and it is manifested in the rapidly plummeting availability of high CWG HFCs in the European region. According to the summary of HFC phase down in Europe release by the Environmental Protection Agency, the HFC phase down was modest during 2015-2017, however, very steel down was observed in 2018 as the average volume of HFC available on the European market reduced to 63% of the 2015 amount.

Thereby, with the sharp decrease in HFC supply in 2018, there is potential for a significant refrigerant shortage in European markets. Leading players in the low GWP refrigerants market in Europe are aiming to capitalize on lucrative sales opportunities in the European Union by bolstering the production of low as well as ultra-low GWP refrigerants in the region.

The Fact.MR study also provides futuristic overview of growth of the low GWP refrigerants market for the forecast period 2019-2027, by thoroughly assessing the salient market dynamics. The study projects that the low GWP refrigerants market will grow 2x larger in terms of revenue to exceed US$ 38 billion by the end of the assessment period.

Growing research and development activities for the production of improved vegan baking ingredients is a vital aspect contributing to market proliferation. Innovations in the vegan baking ingredients manufacturing are enabling the production of vegan emulsifiers which are key to producing bakery products that mimic the texture and mouthfeel of normal bakery products.

A crucial factor complementing the vegan bakery ingredients market growth is the fortification of these ingredients with probiotics. Consumer awareness regarding the benefits associated with consumption of probiotics is gradually increasing which is causing an upward movement in the sales of products incorporated with the healthy ingredient. Additionally, development of probiotics which are resistant to higher temperature, varying pH levels, and have a longer shelf-life is enabling their incorporation into bakery products opening up new opportunities for manufacturers.

Alternate emulsifiers such as aquafaba, a protein derived from legumes, are increasingly gaining traction due to their wide scope of applications such as leavening and foaming agents and their neutral impact on the taste and flavoring of products. Owing to its extensive nature aquafaba is increasingly being used in production of multiple vegan products driving research towards development of infrastructure for large scale extraction of the protein.

A notable development complementing the surge in demand for the alternative emulsifier was InnovoPro, a company based in Israel and specializing in chickpea protein production, raising US$ 4.25 million in funding. The company claims to have found a sustainable technique for extracting 70% of the protein concentrate from chickpeas. These developments are estimated to uphold the growing demand for emulsifiers in the vegan baking ingredients market with the Fact.MR study projecting total production of approximately 10,500 tons of emulsifiers in 2019.

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Demand for Vegan Baking Ingredients in Production of Bread Remains Robust

The consumption of bread has been gradually reducing in recent times with the advent of associated health problems such as increased blood sugar level, indigestibility, and obesity. Consequently, consumers are seeking healthy, gluten-free alternatives for bread which is prompting bakeries to foray into production of vegan bread. For instance, Pompadour, a bakery chain in Japan launched its new vegan curry bread manufactured using clean and organic ingredients.

Additionally, both brick & mortar and online retail stores are adding multiple variants of vegan bread to their portfolios to capitalize on the surge in demand with some stores launching their own proprietary vegan bread products. Trader Joe’s, a chain of grocery stores in the USA, recently rolled out vegan banana bread loaf across its stores. While certain stores are foraying into manufacturing their own vegan bread products, other supermarkets such as Waitrose are assigning dedicated sections to vegan products providing an extensive network for their distribution.

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Surge in the demand for vegan products is also prompting food chains to expand their vegan product offerings. A Starbucks outlet in South Korea recently expanded its vegan product offerings with the addition of vegan focaccia bread to its menu. As competition in the vegan food market intensifies, manufacturers are focusing on the production of innovative offerings. For instance, Artisan Bread Organic, a leading producer of vegan products in the UK, recently launched a new vegan burger range with the company claiming its products to be completely vegan. Approximately 11000 tons of vegan baking ingredients were sold for bread production in 2018, according to the study.