food and beverages

North-American Industrial Chocolate Market is projected to grow at a CAGR of 5.45% by Forecast to 2022

Market Overview

Growing cultivation especially in African nations of Ghana, Ivory Coast and others have resulted in satisfying the growing demand as Western Africa produces almost two-thirds of the world’s cocoa. Rise in disposable incomes, developments in global supply chains, and development of innovative products such as organic and sugar-free chocolates, and chocolate products formulated to withstand high temperature are aiding the market growth. For instance, Barry Callebaut introduced the Choc37.9 line of products with greater thermo tolerance.

Traditional and growing popularity of chocolate coupled with the prosperity of complimentary industries and applications are the prime drivers of the market. The growing popularity of packaged food industry and convenience foods is another driver of the market. Innovations in food industry such as development of specialized and variety of flavors and additives such as milk, coffee etc. Are driving the popularity and the consecutive demand of the industrial chocolate. The emergence of western celebration trends, such as Easter, Valentine’s Day, is other drivers of the market and so is the innovative use of media. Chocolate is a sweet, food prepared from roasted and ground seeds of Theobroma cacao in a variety of forms such as Paste, Liquid and Solid. Industrial Chocolate differs from Craft Chocolate in its use. Industrial chocolate is utilized by manufacturers of finished foods products such as Confectionery, Ice Cream, Beverages and others as a flavoring agent. The North American industrial chocolate market is expected to grow at a CAGR of 5.45% during the forecast period of 2017 to 2022.

Restraints

Rising stringency of labelling, and safety standards such is the gravest restraint facing the market reflected by the growing stringency of European standards which are more stringent than the UNECE standards. The increasing standards parameters such as moisture content, quality class, preservatives and content, and others are other restraints hampering the growth of the market.

Major Key Players Updates

The prominent players profiled in North American Industrial Chocolate Market report are Cargill, Foley’s Candies LP, Hershey, Guittard Chocolate Company, Puratos, Mondelez, Barry Callebaut, Blommer, Nestle SA, Valrhona, Alpezzi Chocolate, Ghirardelli, Ferrero, Republica del Cacao, Scharffen Berger, Mars and others.

Segmentation

North American Industrial Chocolate Market is segmented based on types and application, to satisfy the exigency of a detailed understanding of the market forces.

Based on types, the market is segmented into dark, milk and white.

Based on application, the market is segmented into chocolate bars and flavoring ingredients.

Regional Analysis

The U.S. dominates the North American industrial chocolate market owing to its large economy, higher income, and larger demand generated. The U.S. is followed by Canada and Mexico, which account for USD 14,756 million and which is expected to generate USD 20,200 million by 2022, at a 5.34 % CAGR during the forecast period.

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Trends

Bitter Dark Chocolate to displace the milk chocolate products owing to health concerns

The bitter dark chocolate was long perceived to be a favorite of niche consumers with odd tastes. Although milk chocolate products still reign supreme with more than 50 % percent of market share dark chocolate products sales grew at a healthy 9 percent.

Boutique chocolate manufacturers and small players will gain market share at the expense of large players. According to the Fine Chocolate Industry Association, boutique chocolate registered the fastest growth at 17 percent revenue during the last few years.

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Salsas Dips and Spreads Market is projected to grow at a CAGR of 5% by Forecast to 2022

Market Analysis

Global Salsa Dips and Spreads Market Expected to See a Healthy CAGR During 2017-2022. Salsa being generally a tomato-based sauce or dip which includes various ingredients such as onions, chilies, beans, corn, and various spices. It is the Italian and Spanish term for sauce, and also referred to the sauces typical of Mexican cuisine known as salsa picante, particularly those used as dips in English speaking countries. High application of salsa, dips & spreads for barbeque purpose and as marinades is one of the major reasons driving the sales of Salsa, Dips & Spreads across the regions. The sector is driven in a major way by the demand directed from the convenience food sector. High application of the product as a flavor enhances is one of the major drivers to the development of this segment. Growth of the convenience food market has also provided an impetus for the increased demand of this sector.

Urbanization leading to consumers demand for cross-regional cuisines is supporting the growth of this market on a global level. Changing product preferences, shifting demographics especially in developing countries coupled with evolving consumer attitudes and strong performance of foodservice industry and retail industry; the demand for Salsa, Dips & Spreads is growing. Rising demand for salsa, dips & spreads from the bakery and confectionery industry has also enhanced the market growth trajectory of the sector. Fast pace of lifestyle, increasing awareness about the variety of products available through product advertisements has significantly given a boost to the Salsas, Dips & Spreads market.

Major Key Players Analysis

The key players profiled in Salsa, Dips and Spreads Market Report are Arizona Spice Company (U.S.), Desert Pepper Trading Company (U.S.), Sabra (U.S.), Ricos (U.S.), Frontera Foods Inc. (U.S.), Hot Sauce Harry’s (U.S.), Tostitos (U.S.), Cornitos (India), Salsalito (India) and Britannia Foods (India)

The Salsa, Dips & Spreads market is found to be competitive with large number of established players in the market. The players are found to have indulged in rivalry wherein they fight in terms of quality of product they deliver to the consumers. In order sustain their consumer-base, manufacturers are identified to be investing hugely in the R&D sector to create product differentiation. The best long-term growth opportunities for this sector can be captured by ensuring ongoing product improvisations and financial flexibility to invest in the optimal strategies.

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Segments

Global Salsas, Dips & Spreads Market has been divided into type, application, distribution channel and region.

Based on Product Type: Black Bean, Chipotle, Fruit, Corn, Tomato, Jalapeno and others

Based on Food Preference: Vegetarian and Non-vegetarian

Based on Distribution Channel: Store Based and Non-Store Based

Based on Flavor: Sweet, Savory and blends

Based on Region: North America, Europe, Asia Pacific and ROW.

Regional Analysis

Salsa, Dips & Spreads Market is segmented into Europe, North America, APAC, and Rest of the World (RoW). Global Salsa, Dips & Spreads market is highly dominated by North America followed by Asia Pacific and Europe. Due to rising demand for flavored food and dips & spreads for food accompaniments, APAC is fastest growing region. The shift in consumers’ food consumption trend and improved disposable income in the region augment the market growth in Asia-Pacific region. The consumption of Salsa, Dips & Spreads in developing counties is expected to grow in upcoming years based on rising inclination of consumers towards uniquely flavored food products.

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Wine Market is projected to grow at a CAGR of 4.39% by Forecast to 2024

Market Insight

Wine needs no introduction, being around since 7000 BC suiting palates of consumers. Its market is ever increasing in thick & thins of economies. Although on the surface, Wine doesn’t seem to be undergone much of a transformation; there have been a lot of changes in its process like fermentation and filtration. Among them, Filtration expertise is critically important to achieve clarity and stability of fine Wine. And to attain the Filtration expertise, several technical advancements have been transpired in the field of Wines. Some of the notable innovations include – filter design innovation – Advanced Pleat Technology (APT), Rigid Extrusion Bonded Technology that controls the process parameters like temperature and pressure, and characteristics of the polypropylene resin. And Membrane Filter Technology offering unmatched protection of final membrane filters, as well as exceptionally long service life.

Over the last couple of decades, fuelled by the increasing disposable income and improving living standards attributed to the rising GDP, Wine consumption has dramatically increased. Changing lifestyles, increasing purchasing power which leads to change in preferences are some of the factors propelling the market growth. Furthermore, the increased demand for locally produced wines has gone up due to the change in such preferences driving growth of the global Wine market. Also, there is a change in the traditional form of packaging of wines, manufacturers are investing substantially to bring about better, attractive and innovative packaging solutions that can reflect the exclusivity and luxury nature of the wine using techniques such as foiling, heavy debussing, etc. Attractive packaging is also one of the key factors driving the market growth to an extent.

Developing economy and increasing disposable income have a major impact on the wine market. Increased demand for premium alcohol is also driving the market for wine. Availability of various product types in wine supports the growth of wine market. Furthermore, high focus on research and development has led to innovations in wine varieties by experimenting with unique flavors, which has also fueled up the wine share in the global wine market. Innovation in fermentation process and inclusion of various ingredients for wine production has resulted in launch of various wine products. This has encouraged higher sales of wine globally.

Major Key Players

The key players profiled in Wine Market are Shanghai Torres Wine Trading Co. Ltd. (China), Accolade Wines (U.K), Vina Concha y Toro (Chile),Distell Group Limited (South Africa), Treasury Wine Estates (Australia), Constellation Brands (U.K) and E. & J. Gallo Winery (U.S.)

Market players in Wine Market are emphasizing in the merger & acquisition activities to upsurge the product portfolio of the company. Also, the manufacturers are also investing in the wine processing plant to increase the product portfolio.

The strategic sales plan of wine manufacturers includes use of online channels for marketing. For that, key manufacturers are entering into collaboration with the online channels to reach maximum customers and also to upsurge the brand value of the product. Key players in the wine market, is inclined to introduce new products in the market or to extend the product line of renowned product. Also, the company promotes their new products on social media to reach many customers. This promotional strategy aids to retain the existing the customers and to acquire new customers. Also, the key manufacturers are focusing in the packaging of the wine. Today packaging is not only used to increase the shelf life of the product but also it aids to upsurge the brand value of the product. Growth in awareness related to wine products information among consumers through books and social media platforms has supported wine sales globally. Popularity of wine is also supported by wine tourism and special programs focused on the presentation of wine areas and variety wines with the authentic and clear origin.

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In the recent years, wine consumption has evolved resulting in more shifts of consumers towards higher-quality wines compared to traditional wines. Wine consumption has witnessed continuous fall in traditional wine-producing countries. This has forced many suppliers to shift to newer ingredients for wine production. Popularity of wines is more among the famous origin types and high-priced quality wines which has posed a threat to consumption of domestic cheaper wines. Domestic wines production volume is comparatively higher whose demand is highly affected with shift of consumers to premium wines.

Regional Analysis

Wine Market is segmented into Europe, North America, Asia Pacific and Rest of the World. Among the entire region, Europe is estimated to account for the major market proportion in the year of 2017. The region is estimated to retain its dominance throughout the forecast period of 2017-2024. U.K and Germany are the major consuming countries of wine in Europe. Presence of key manufacturers in the European countries is one of the significant reasons for the rising growth of wine. Also, key manufacturers are focusing in the new product development which in turn escalates the sales of wine in Europe. However, Asia Pacific region is expected to expand at a high growth rate during the forecast period of 2017-2024. China and India are collectively accounting for the 50% of the overall Asia Pacific market. The growth of the Asia Pacific region is anticipated to be driven by the increasing youth population coupled with the increasing disposable income of the consumers.

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E-Cigarettes and Vaporizer Market is projected to grow at a CAGR of 25% by Forecast to 2021

Market Overview

Global E-Cigarettes and Vaporizer Market is majorly driven by the factors such as the presence of established brands, cost-effectiveness, perceived health benefits, and product customizations. Globally, the consumption of tobacco has become a critical issue despite of several government initiatives to increase the awareness about the health issues caused by consuming tobacco. Consumers addicted to tobacco find it difficult to get rid of the addiction and would require an alternate to tobacco. This has turned out to be one of the major drivers for the growth of the E-Cigarettes and vaporizer market globally. Alarming health issues caused due to the addiction of tobacco is the main driver to promote growth in the market. Growing number of cancer patients due to excessive consumption of tobacco worldwide is one of the major reasons that prompted the addicts to get rid of it. However, several people find it difficult to succeed to do so and hence prefer e-cigarette over conventional cigarettes this in turn has resulted in to people switching from conventional cigarettes to e-cigarettes over the past couple of years.

E-Cigarettes & Vaporizers are devices that vaporize liquid containing nicotine, as well as varying compositions of flavourings, propylene glycol, glycerine, and other ingredients. The liquid is heated into an aerosol that the user inhales. Many E-Cigarettes & Vaporizers are designed to look like conventional cigarettes, cigars, or pipes. Some resemble pens or other everyday items. Larger devices such as tank systems or mods bear little or no resemblance to cigarettes. These devices are said to have minimized a significant expenses of a hard core smoker and all of vaporizers, electronic cigarettes, accessories, and batteries are eco-friendly and recyclable.

Although there are no major side effects known, a very few of customers have reported with the allergic symptoms to PG which simply causes some irritation in the throat. All known side effects are typically associated with cigarette withdraw and not with E-Cigarettes & Vaporizer devices. These negligible side effects coupled with factors such as, increasing incidents of e-liquid poisoning, uncertain regulatory framework and the high costs associated with these devices may hamper the market growth during the projected period.

Key Players

Companies are in the process of capturing & solidifying their share of the market segment, by competing and experimenting with various advantage points. The entry of new industry players in the segment has initiated a trend of volume-driven growth that has been observed to intensify with the addition of new and advanced products. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.

Few of the major players in Global E-Cigarettes and Vaporizer Market include Dash VAPES, HUBBLY Bubbly, LIQUIDEU, UFF ECIG, Simple VAPE Co., Nice Vapor and Pacific Smoke International. Growing awareness about ill-Effects of tobacco together with consumers’ rising preference for e-cigarette over conventional cigarettes to quit tobacco has driven the market in North America and Europe over the past few years.

Industry Segments

Global E-Cigarette and Vaporizer Market is segmented in to 2 dynamics for the convenience of the report and enhanced understanding.

Segmentation By Product Type: Comprises Disposable E-Cigarette, EGO and Tanks, Rechargeable E-Cigarette, Personal Vaporizers and Mods and Others.

Segmentation by Regions: Comprises Geographical regions – Europe, North America, APAC and Rest of the World.

Disposable e-cigarettes have accounted for the largest market size by product type in 2015 accounting for nearly 30% of the market size closely followed by rechargeable e-cigarette.

Personal vaporizers will grow at a CAGR over 23.5% through the forecast period

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Regional Analysis

Currently, North America is the largest consumer of E-Cigarettes & Vaporizer in the world market. It is closely followed by Europe. Although, China began as the first market for E-Cigarettes & Vaporizer, the U.S. and developed markets from Europe became the prime consumers of E-Cigarettes & Vaporizer, due to which these two regions collectively account for over 80% of the world market. APAC will be growing at the fastest CAGR, accounting for more than 20% of the global e-cigarette market value by 2021. Significant revenue flow will be observed from China and India over the forecast period.

Sports Nutrition Market expected to grow at Significant CAGR by Forecast to 2027

Market Overview

Global Sports Nutrition Market is divided into three segments Sports Food, Sports Drinks and Sports Supplements. Sports drink segment accounts for the largest share of 60%, and registered CAGR of 7.7% between 2010 and 2013. The growth in the sports drinks segment, which has a high market penetration, is expected to be comparatively less than sports food and supplement segment as the segments expand their product features to attract new consumers.

Sports nutrition products, once restricted to its traditional hardcore consumers such as athletes and bodybuilders, is increasingly gaining acceptance among new consumer groups. Increasing number of fitness enthusiasts and health-conscious individuals are looking for sports nutrition supplements that help to achieve their health goals. The new consumer groups of recreational and lifestyle users

Top Key players

This report includes a study of strategies, of major market players. It includes the product portfolios, developments of leading major players such as Glanbia Plc, PepsiCo Inc, GNC Holdings, The Coca-Cola Company, Clif Bar & Company etc and others.

This research report has provided the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenerios & strategies, of the Global Sports Nutrition Market including the high-growth regions, countries and their political, economic and technological environments. Furthermore, the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.

Regional Analysis

The U.S. remains the largest market for sports nutrition products in North America region. A settled regulatory environment related to sports nutrition products in the country helps in driving innovation in the sector. Also, high level of awareness regarding sports nutrition products among consumers entails presence of various brands in the market. The European market has evolved from catering to traditional consumers (athletes and bodybuilders) to new user groups such as lifestyle and recreational users. Increasing obesity level is driving consumers to adopt healthier lifestyle and number of gyms and fitness centers witnessed an increase during the review period. The number of health clubs in Europe increased from 45.40 million in 2012 to 49.20 million in 2013. Unlike, in the U.S., consumers in the European market are more inclined to powder drinks. However, like in the U.S., European consumers have high awareness of sports nutrition products. Rise is number of health clubs and fitness centers are driving the growth of sports nutrition products.

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Medicinal Mushroom Extract Market is projected to grow at a CAGR of 6.3% by Forecast to 2023

Market Insight

Medicinal Mushroom Extract is used for its health-promoting properties. CHAGA, Cordyceps, REISHI, Turkey tail, and Shiitake are some of the commonly known medicinal mushrooms which help to regulate the immune system to fight off cardiovascular diseases and the cancer cells, control cholesterol, and improve lung functions. Owing to their high nutrient content and the ability to heal various diseases, these extracts are extensively used in dietary supplements and functional foods.

Owing to their various health-promoting benefits, medicinal mushroom extracts are witnessing increasing applications in the pharmaceuticals industry over the last few years. Augmented demand from the burgeoning medicines industry defines the growth landscape of the Medicinal Mushroom Extract market globally, escalating it to the further heights. Increasing awareness towards the benefits these medicinal mushrooms offer, fuel –up the demand for its extracts extract from various industries. Augmenting demand for functional foods along with the growing health-conscious populace fosters the market growth. On the hand, lack of effective production skills is creating a gap between demand and supply of the mushrooms in the market, eventually, obstructing the market growth. However, ongoing R&D activities backed with the continuous funding are expected to boost the growth of the market by increasing the yield substantially and by introducing new applications of medicinal mushroom extract.

Different medicinal mushrooms demonstrate different health functions including anticancer, antioxidants, immune modulator, and hepatic-protective, and others. For instance; rich in flavor and texture, Shiitake mushrooms aid in weight loss, help improve energy levels and brain function, reduce inflammation, and support the cardiovascular health.

Major Key Players

Characterized by the presence of some well-established and small players, the Global Medicinal Mushroom Extract Market appears to be highly competitive and fragmented. Well established players increasingly seek market expansion incorporating various strategic mergers, acquisitions, innovation, increasing investments in research and development. The market is expected to witness the intensifying competition due to the expected introduction of new application areas of the extract. North American Medicinal Mushroom Extracts (NAMES Canada), New Roots Herbal Inc. (Canada), Nutra Green Biotechnology Co (US), Amax NutraSource, Inc. (US), Nyishar (UK), Real Mushrooms (Canada) and Oriveda BV (The Netherlands)

are some of the players driving the Global Medicinal Mushroom Extract Market and are profiled in MRFR Analysis.

Regional Analysis

The Asia Pacific market is forecasted to retain its dominance throughout the review period followed by North America. Presence of various AGRO-climatic zones coupled with the favorable weather conditions are to drive the market growth in the region, ensuring the extensive yield in the upcoming years.

Owing to the increasing production of mushrooms in China, Japan and Korea, these countries witness higher growth in the market which contributes to the market growth substantially. China accounts for the major contributor of the market growth in terms of both production and consumption of medicinal mushrooms extract followed by Japan.

While, the second-largest market for Medicinal Mushroom, North America market is growing due to the presence the largest consumers of the medicinal mushroom extract such as the US and Canada.

Also, the presence of increasing health-conscious populace and their inclination towards the functional food drive the market growth in the regions such as North America and Europe.

Growing markets in some of the European countries such as Italy, Spain, Poland, and the Netherlands drive the growth of the European medicinal mushroom extract market.

In the RoW market, Latin America is gaining a moderate growth due to the increasing demand for food stabilizers.

Owing to the high nutritional and medicinal value of this extract, the Middle East market is expected to account for a moderate growth over the forecast period.

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Market Segments

Global Medicinal Mushroom Extract Market can be segmented into four key dynamics for the convenience of the report and enhanced understanding;

By Types: Comprises Chaga, Cordyceps, Reishi, Turkey Tail, and Shiitake among others.

By Forms: Capsules, Liquid, and Powder among others.

By Functions: Antioxidant, Immune Enhancer, Anti-Cancer, and Skin Care among others.

By Region: North America, Europe, APAC and Rest-of-the-World (RoW).

Shiitake mushroom accounts for the fastest growing segment followed by Reishi.

By forms, the capsules segment is leading the market whereas, the liquid and powder segments are expected to witness considerable growth over the forecast period owing to its extensive uses in the pharmaceutical industry.

Anti-oxidant and immune enhancer segments are expected to witness substantial growth over the forecast period. However, the skin care agent segment is likely to witness moderate growth during the forecast period.

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Healthy Smoothies Market is projected to grow at a CAGR of 10.2% by Forecast to 2023

Market Overview

Increasing demand for smoothies in a global market coupled with health benefits associated with the product is growing the market for healthy smoothies at an incremental pace. Escalating demand for functional beverages is driving the market for healthy smoothies’ market. Change in lifestyle, increasing consumption of functional foods and beverages, and increasing awareness for health benefits associated with healthy smoothies have raised the demand for healthy smoothie on a global level. Innovation in flavors and the packaging of the product have encouraged the market to grow at a fast pace.

It has been witnessed that consumers are demanding more for convenience beverages to boost their energy, which is driving the growth of healthy smoothies’ market. Moreover, increasing health conscious population is also having a positive impact on the growth of this market. Rise in disposable income and change in consumption pattern among the consumers is another factor contributing to the growth of the market. Additionally, increasing working population demand “on-the-go” beverages for instant intake of energy to the body.

Key Players Review

Owing to rise in health consciousness among the consumers on a global level, the demand for healthy smoothie has gained massive growth. Based on this, the established manufacturers in the global healthy smoothie market have undergone high R&D investments to boost their product quality and introduce wide range of product-line. Moreover, new players are expected to enter into the market owing to escalating demand for the product from the consumers end. The key strategy followed by key players majorly includes product innovations followed by innovative packaging and promotional activities.

The key players profiled in Healthy Smoothie’s Market Report are Smoothie King (U.S.), Bolthouse Farms, Inc. (U.S.), Barfresh Food Group (U.S.), Innocent Drinks (U.K.), MTY Food Group (Canada), Crussh Juice Bars (Australia), and Freshens (U.S.) among many others.

Market Segments

Healthy Smoothie Market is divided into type, packaging material, distribution channel, and region.

Based on Type: Fresh and Processed

Based on Packaging material: Paper, Glass, Plastic, Metal and Others

Based on Distribution channel: Store based, and Non-store based

Based on Region: North America, Europe, Asia Pacific and ROW.

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Regional Analysis

Based on Region, the Global Healthy Smoothie Market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global healthy smoothie market is witnessed to be highly dominated by North America owing to growing demand for functional beverages and energy booster “on-the-go” drinks from this region. Europe is also having a prominent share in the global healthy smoothie market. Also, APAC is the fastest growing region due to changing lifestyle and increasing health consciousness among the consumers. Moreover, the consumption of healthy smoothie in countries like India and Brazil is expected to grow in upcoming years.

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Legal Marijuana Market is projected to grow at a CAGR 4.11% by Forecast to 2024

Market Insight

Increasing legalization of marijuana in different countries is encouraging the growth of legal marijuana market. Thus, the application of legal marijuana in medical sector is witnessing a rapid growth at a global level. Moreover, marijuana oil and hemp seeds are now also being used in personal care products and are found to heal skin conditions including psoriasis, skin rashes, and eczema, which is adding fuel to the growth of the legal marijuana market. Based on the type of the legal marijuana, sativa is dominating the market holding a global market share of 56.3% and is expected to grow substantially over the forecast period. However, Indica segment is expected to account for a steady growth in the legal marijuana market over the forecast period 2016-2024. Researchers are taking efforts to bring out value added products from the cannabis strains, which is contributing in the growth of legal marijuana market. Increasing awareness of the health benefits associated with the legal marijuana is propelling the growth of this market.

Legal Marijuana Market is projected to reach USD 3.6 billion at a CAGR of 22.03% by the end of forecast period. In North America, legal marijuana is majorly consumed in the U.S. and Canada. North America alone captures 58% market share followed by Canada in the year 2016.

Major Key Players

This report includes a study of strategies such as mergers, acquisitions, and product launches by the major legal marijuana market players. It further includes product portfolios, developments of leading players, which includes

Some of the leading players in the Global Legal Marijuana Market Medicine Man (U.S.), AmeriCann, Inc. (U.S.), Abattis Bioceuticals Corp (Canada), Novus Acquisition & Development (U.S.), GW Pharmaceuticals (U.K.), Canopy Growth (Canada) and Insys Therapeutics (U.S.)

Key Findings

Global Legal Marijuana Market is projected to reach USD 4.69 billion by 2024 at a CAGR of 22.03%

RoW likely to experience the highest growth at a rate of 30.18% during the given forecast period majorly in Australia, Turkey and Argentina

Sativa has a market share of over 50% in the legal marijuana market

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Barbecue Sauce Market is projected to grow at a CAGR of 3.7% by Forecast to 2023

Market Insight

Barbecue sauce is used extensively for marination of meat and vegetables or is served with grilled food to enhance its smokey flavor. Roasting or grilling of food has been regarded as a healthier way of cooking which offers results that also taste good. Originated in the U.S, barbecue sauce has gained global popularity and is available the world over.

Increasing demand from consumers for grilled meat and vegetables in an effort to stay health conscious is facilitating significant growth for the barbecue sauce market. Consumer demand for uniquely flavored food products combined with the availability of various barbecue sauce styles is an important driver encouraging demand for barbecue sauce. Increasing disposable income and a low production cost associated with the manufacturing of barbecue sauce is expected to augment demand further. Moreover, market players are increasingly coming up with unique barbecue sauce flavors and offerings. The demand for healthy barbecue sauces, organic barbecue sauces, and other innovative offerings are expected to provide the market with high opportunity for growth.

Top Key Players

Product differentiation and R&D are among the key marketing strategies used by prominent players such as Sweet Baby Ray’s, Killer Hogs, J Lee’s Gourmet BBQ Sauce Inc., Memphis Barbecue Co, ConAgra Foods Inc., KC Masterpiece and Kraft Foods Inc.

These players have been Analyzed in MRFRs report on the Global Barbecue Sauce Market.

Latest Industry News

Hellmans has added three new Barbecue Sauces Market to its existing range in an effort to tap into the growing barbecue occasions, particularly in the summer.

Market Segmentation

The global barbecue sauce is segmented on the basis of form, flavor, specialty attributes, distribution channel, and region. By form, the market is divided into liquid, paste, and others. The paste form segment accounts for the largest share of the market due to the consistency and easy application as compared to other forms.

By flavor, the market is segmented to include spicy, sour, cultured sweet, and others. The spicy segment dominates the market due to high consumer demand for spicy sauces.

By specialty attributes, the market is segmented into non-GMO, gluten-free, organic, and others. The organic segment accounts for the most significant share of the market due to rising awareness of ingredients, and the high demand for natural food items.

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By distribution channel, the market is segmented into store-based, and non-store based. Store-based channels account for higher sales as they offer convenience and one-stop shop experience.

Regional Analysis

North America accounts for the most significant share of the global market. The region includes the U.S which is home to barbeque sauce and has several states within, each of which have their own authentic barbecue sauce variety. Europe follows North America in terms of market size. These regions have a high consumption of barbecued or grilled food, thus driving the demand for barbecue sauce. The rising demand for cuisine across various cultures is expected to increase the use of barbecue sauce further.

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Spirulina Market is projected to grow at a CAGR of 8.02% by Forecast to 2023

Market Insight

Spirulina is a multicellular and filamentous blue-green microalga. It is used as a human food supplement and to overcome malnutrition since it is a rich source of Protein, Vitamins, Carotenoids, Minerals and Antioxidants. Spirulina grows in fresh water and is also grown artificially based on its nutritional value. It is further procured using various methods and is ultimately dried and powdered. From the last few decades, Spirulina has gained its popularity based on its diverse applications in food industry (majorly nutraceuticals) and as a potential protein supplement.

Spirulina mainly used in cosmetic & personal care products especially for the anti-aging cream. Spirulina is effective as one gram per day is sufficient enough to correct severe malnutrition in a child within in a few weeks. New studies suggest that spirulina capable of improvising the physical development as well as cognitive performance. Spirulina is of high-quality natural feed additives which can be used in animal and poultry nutrition. It also plays an important role in aquaculture, especially in the aquatic farming and hatchery. One of the significant reasons of the increasing growth of global spirulina market is rising demand of clean label products. Clean label trend has evolved beyond ingredients and indicates that the food is prepared by the natural color. The increasing consumer awareness on health and wellness and their growing interest to adopt spirulina as a natural food color instead of synthetic colors.

The food and beverages industry have slowly started phasing out artificial colors due to the rising safety concerns and growing demand for natural colors. Spirulina is one of the popular natural food color among the food & beverages manufacturers. The primary pigment in spirulina is a protein called phycocyanin that n. It imparts a vibrant blue color. Additionally, it can be combined with other colors to make customized colors of such as green and lavender or violet shades, which makes it. Thus, making it ideal for using in various food and beverages products. Spirulina also finds its major application in the cosmetic & personal care industry.

Major Key Players

The Leading Market Players in the Global Spirulina Market primarily are HYDROLINA Biotech Private Limited (India), Jiangxi Alga Biotech (China), CYANOTECH Corporation (Hawaii), DIC Corporation (Japan), Tianjin Norland Biotech Co. Ltd (China), Synergy Natural Products Pty Ltd. (Australia) and E.I.D. Parry (India) Limited (India)

This report includes a study of strategies used in the market, mergers, and acquisitions and multiple product launch by spirulina market players. It further includes product portfolios and developments of leading players, which includes

The market players have increased investment in research and development to identify right formulation and to improve product functionality to capture maximum share and to create brand recognition in spirulina market. Most of the companies operating in this market are focusing on expanding their operations across the geographies, augmenting its capabilities and investing in research and development to offer products with better functionality.

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Key Findings

Spirulina manufacturers find massive opportunity in the U.S. owing to the huge demand of natural color in the food & beverages. Asia Pacific is estimated to retain its dominance throughout the forecast period and to grow at a substantial CAGR of 8.45%. Among the Asia Pacific country, China is projected to witness a substantial growth of 9.30% during the forecast period of 2017-2023.

Industry Segments

The global Spirulina Market has been segmented based on form such as powder, liquid, capsule & tablet and gelling agent. The powder segment is projected to account maximum market proportion and projected to grow at CAGR of 8.23% during the forecast period. Based on applications, the global spirulina market is segmented into nutraceuticals, food & beverages, pharmaceuticals, cosmetic & personal care, and others. Among all the applications, nutraceutical segment is estimated to witness the highest growth at a CAGR of 8.34% during the forecast period of 2017-2023.

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