The plant protein market is expected to grow at a compound annual growth rate of 9.5% during the forecast period. Plant protein market growth is being fueled by rising consumer preference for vegan diets and a healthy, sustainable lifestyle. Plant protein is simply a useful source of protein derived from plants. Pulses, tofu, soy, tempeh, seitan, nuts, seeds, some cereals, and even peas fall into this category. Pulses are a broad category of plants that includes chickpeas, lentils, beans (including black, kidney, and adzuki beans), and split peas.
The global travel retail sector is not limited to only airports; it also includes cruise lines, ferries, and ports. However, an airport still enjoys the pole position in the market and remains the dominant player in the upcoming years. The travel retail market was valued at US$ 63.59 Bn in 2017 for the last two decades, the travel retail market has grown constantly, a trend that should continue between now and 2026.
Reusable icepacks market is anticipated to grow at CAGR of 8.5% percent during a forecast period of year 2021 to 2029. Reusable icepacks are made up of HDPE (high-density polyethylene), cross-linked polyacrylate, ployalcohol co-polymer refrigerant and other polymers.
Rapidly flourishing cultures of cafés and coffee boutiques stimulated bean to cup coffee machines market to register market value of US$ 1,896.5 Mn in 2021. However, with the onset of the COVID-19 pandemic, a large number of cafes, hotels, campuses and airports witnessed a significant decline in the footfall due to lockdown restrictions. In addition, numerous commercial retail outlets along with various corporate and educational campuses were shut in order to curb the spread of the virus. Thereby, the overall bean to cup coffee machines market took a hit in 2020.
Health & wellness products market is projected to witness the CAGR of 5.9% during the forecast period. This growth can be attributed to multiple factors such as increased consumer awareness, aging population, emerging middle and affluent classes, and consumer awareness toward preventative health care. Moreover, young population in the developing economies are willing to pay premiums for health & wellness products as a result of the rising importance in physical fitness, fuelling the overall growth of the market. Health & wellness products includes broad spectrum of products from food and beverages and personal care industry.
The global industrial hose market was valued at US$ 10.75 Bn in 2017 and expected to expand at a CAGR of 4.8% during the forecast period from 2018 to 2026. Booming construction and real estate industry due to economic stability is one of the prominent factors driving demand for industrial hoses worldwide.
The global supply chain management market was valued at US$ 12.96 Bn in 2017 and expected to expand at a CAGR of 12.3% during the forecast period from 2018 to 2026. Over the last few years, there has been a rise in both intra-regional and cross-border trades due to liberalization and consequent proliferation of e-commerce.
Inspection robots market was valued at US$ 1,679.5 Mn in 2020 and expected to grow at a CAGR of 17.3% during the forecast period from 2021 to 2029. The fact that robotic inspection has proved to be significantly advantageous over current methods of inspection has led to its increasing adoption across various applications. The ability to operate in harsh, hazardous & dirty environment and to assist human inspectors 24/7 supports the aforementioned statement. For instance, inspection robots are finding wide application in the petrochemical industry for the purpose of inspection of assets.
The global commercial cooking equipment market is anticipated to register strong growth in the coming years due to increasing need for energy-efficient and certified cooking equipment. Commercial cooking equipment are primarily used in hotels, restaurants and other commercial kitchens for aiding staff in easy food preparation.
Enzymes are protein molecules which are produced by all living creatures which acts as a catalyst increasing the pace of chemical reactions quickly and efficiently without changing their own chemical structure. These protein molecules when used for processing and manufacturing in industries, is termed as industrial enzymes.
The market for beverages is estimated to cross $2000 billion by 2030 with an expected CAGR of 5% between 2023 and 2031. Post-Covid-19, as a result of their altered consumption patterns, customers are increasingly willing to try new products, particularly those that are healthier and safer. This has pushed businesses to investigate novel and inexpensive items. Bearing this in mind and the increase in demand during the pandemic, beverage producers have begun expanding their product lines with new lines that contain less sugar and provide functional benefits.
Increasing health consciousness heightened understanding of the necessity for an active lifestyle, and the rising prevalence of lifestyle diseases prompted health-conscious consumers to choose nutritious beverages. A rise in promotional and advertising methods among market-active manufacturers is also anticipated to contribute to the expansion of the beverage industry. Moreover, the industry is witnessing an increase in demand for low-alcohol-by-volume beverages, particularly among millennials and baby boomers. The rising sales of low-alcohol beverages can be attributed to customers' increasing health consciousness and the availability of a broader product selection with enhanced flavor, which makes it easier for consumers to select a product according to their preferences.
Due to the global incidence of diabetes, people are becoming increasingly aware of the significance of a balanced diet and active lifestyle. Consumers are opting for low-calorie, low-sugar, or sugar-free dietary patterns in foods and beverages as a result of increased health concerns and initiatives to prevent the emergence of lifestyle-related disorders. In beverages, consumers choose natural sweeteners such as stevia. PepsiCo Inc. and Coca-Cola have pledged to eliminate artificial additives and lower the amount of sugar in their drinks.
In addition, changes in consumer expectations for reduced or sugar-free products prompted beverage makers to innovate their products. These producers are producing a variety of unique goods to meet the escalating demand for such items, as customers are actively attempting to avoid consuming sugary beverages to avoid the negative effects of excessive sugar consumption.
Acute Market Reports provides the most comprehensive market research services in the beverages industry. We analyze the global market from the perspective of the potential outcomes, benefits, and risks associated with each market segment. After more than a decade of service, our top priority is to enable our clients around the world to make educated business decisions by using an innovative and futuristic research strategy that is data-driven, analytical, and simple. Through Acute Market Reports you can gain access to the most advanced business intelligence solutions in the beverages industry.
