Green Hydrogen Market to be Worth $12.8 Billion by 2030

 

Meticulous Research®—a leading global market research company, published a research report titled, ‘Green Hydrogen Market by Generation Process (PEM, Alkaline, Solid Oxide), Energy Source (Wind, Hydropower), Application (Fueling, Feedstock), End User (Transportation, Chemical Production, Power Generation), and Geography - Global Forecast to 2030.’

 

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According to this latest publication from Meticulous Research®, the green hydrogen market is projected to reach $12.8 billion by 2030, at a CAGR of 40.9% during the forecast period. The growth of this market is driven by the increasing demand for green hydrogen in fuel cell electric vehicles (FCEVs), growing demand for green hydrogen in chemical production, and rising government initiatives for net zero-emission. However, the high cost of production restrains the growth of this market. Furthermore, increasing investment by market players for the development of electrolysis and the growing adoption of green hydrogen due to its zero-carbon footprint is expected to create market growth opportunities. However, the complex and expensive storage and transportation is a major challenge for the players in this market. The latest trends in the green hydrogen market are the increasing use of water and electricity for green hydrogen production.

 

The green hydrogen market is segmented by generation process (proton exchange membrane electrolysis, alkaline electrolysis, and solid oxide electrolysis), energy source (Wind, solar, hydropower, and other energy sources), application (fueling, feedstock, heat processing, energy storage, and other applications), end user (transportation [shipping, aviation, cars, railway, and trucks], chemical production, healthcare, steel production, petroleum refinery, power generation, and other end users), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

 

Based on generation process, the green hydrogen market is segmented into proton exchange membrane electrolysis, alkaline electrolysis, and solid oxide electrolysis. In 2023, the proton exchange membrane electrolysis segment is expected to account for the largest share of the green hydrogen market. The large market share of this segment is attributed to the increasing adoption of PEM electrolysis due to its ability to operate at high current density, the rising use of PEM due to its environment-friendly nature, rapidly growing low-carbon hydrogen production projects, and the increasing focus on fuel cell technology. Also, this segment is projected to register the highest CAGR during the forecast period.

 

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Based on energy source, the green hydrogen market is segmented into wind, solar, hydropower, and other energy sources. In 2023, the hydropower segment is expected to account for the largest share of the green hydrogen market. The large market share of this segment is attributed to the increasing demand for renewable sources of energy for hydrogen production, the growing government initiatives to reduce the dependency on fossil fuels for power generation, the increasing adoption of renewable energy, and rising global electricity consumption for green hydrogen production. This segment is also projected to register the highest CAGR during the forecast period.

 

Based on application, the green hydrogen market is segmented into fueling, feedstock, heat processing, energy storage, and other applications. In 2023, the feedstock segment is expected to account for the largest share of the green hydrogen market. The large market share of this segment is attributed to the increasing adoption of green hydrogen for chemical production and the growing government initiatives for the use of green hydrogen due to its zero-carbon footprint.

 

However, the fueling segment is projected to register the highest CAGR during the forecast period due to the increasing adoption of green hydrogen due to more powerful and energy efficient than fossil fuels, the increasing government initiatives for clean and flexible energy sources to support zero-carbon energy, and the increasing adoption of green hydrogen during the combustion due to produce less smoke or any unpleasant fumes.

 

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Based on end user, the green hydrogen market is segmented into transportation, chemical production, healthcare, steel production, petroleum refinery, power generation, and other end users. In 2023, the chemical production segment is expected to account for the largest share of the green hydrogen market. The large market share of this segment is attributed to the increasing adoption of green hydrogen to reduce net-zero emissions, the growing use of green hydrogen to produce sustainable methanol and ammonia, the increasing demand for highly efficient energy sources for refineries, and the increasing use of green methanol as a clean energy resource.

 

However, the transportation segment is projected to register the highest CAGR during the forecast period due to the increasing adoption of fuel-cell electric vehicles (FCEVs), rising demand for green hydrogen to reduce carbon emission, growing fueling solutions for a range of transportation and motive power applications, and the increasing adoption of green hydrogen to produce less greenhouse gas emissions, reduce oil dependence, and lower air pollutants.

 

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Based on geography, the green hydrogen market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the green hydrogen market. The large market share of North America is attributed to the increasing adoption of clean energy solutions for sectors such as power generation and transportation, rising government initiatives and investment for green hydrogen production to reduce emissions, ongoing investment, funding programs, and grants for clean fuel adoption.

 

However, the Asia-Pacific market is projected to register the highest CAGR during the forecast period due to the growing strategic alliances and large-scale investment in the clean hydrogen economy, the increasing adoption of green hydrogen in power generation, the increasing investment by market players for the development of electrolysis, and the growing ability to build large infrastructures for storing green hydrogen.

 

Key Players:

 

The key players operating in the green hydrogen market include FuelCell Energy, Inc. (U.S.), Bloom Energy Corporation (U.S.), Plug Power Inc. (U.S.), Air Products and Chemicals, Inc. (U.S.), China Petrochemical Corporation. (China), L’AIR LIQUIDE S.A. (France), Linde plc (Ireland), Green Hydrogen Systems A/S (Denmark), McPhy Energy (France), ITM Power PLC (U.K.), Nel ASA (Norway), Ballard Power Systems Inc. (Canada), ENGIE SA (France), Repsol S.A. (Spain), and Iberdrola, S.A. (Spain).

 

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Digital Payment Market Worth $274.61 Billion by 2029

 

According to a new market research report titled, ‘Digital Payment Market by Offering (Solution & Services), Payment Mode (Digital Wallets, Banking Cards, POS, Internet Banking), End User (BFSI, Retail, Travel & Hospitality, Healthcare, Others), Organization Size and Geography - Global Forecasts to 2029,’ the digital payment market is projected to reach $274.61 billion by 2029, at a CAGR of 16.6% from 2022 to 2029.

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Digital payments are transactions that take place via digital or online modes, with no physical exchange of money involved. This means that both parties, the payer, and the payee, use electronic mediums to exchange money. Digital payment transactions have grown rapidly in emerging markets during the past two years as the pandemic accelerated shifts to contactless payments and e-commerce.

The growth of this market is attributed to the increased adoption of digital payment modes, rising government initiatives for the adoption of digital payment and growing partnerships between banks and fintech to leverage customer experience. In addition, the increasing use of payment applications across different industry verticals and the rising adoption of contactless payment are expected to offer significant opportunities for the growth of this market. However, a low level of awareness of online payments in rural areas can restrain the growth of this market to some extent.

Based on offering, the digital payment market is segmented into solutions and services. In 2022, the solutions segment is expected to account for the largest share of the global digital payment market. The growth of the segment is attributed to the declining cash usage, the growing e-commerce industry, development in mobile payment technology, and increased use of mobile wallets.

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Based on payment mode, the digital payment market is segmented into digital wallets, banking cards, point of sales, internet banking, and other payment modes. In 2022, the digital wallets segment is expected to account for the largest share of the global digital payment market. Additionally, this segment is expected to grow at the highest CAGR during the forecast period. Factors such as increasing population, rising adoption of smartphones, rising number of internet subscribers, and rapid growth in the retail and e-commerce sector across the countries such as India and China are driving the market.

Based on end user, the digital payment market is segmented into BFSI, retail, travel and hospitality, healthcare, IT and telecom, media and entertainment, and others. In 2022, the BFSI segment is expected to account for the largest share of the global digital payment market. The rising demand for digital remittances for cross-border and domestic transactions is encouraging banks to adopt digital payment solutions.

 

However, the retail segment is expected to grow with the highest CAGR during the forecasted period. Retail e-commerce sales are rapidly increasing due to government support, increased smartphone penetration, and application usage, and the promise of a better shopping experience is likely to boost. The increasing usage of mobile payments in the retail industry, primarily in the e-commerce sector, boosts the digital payment market in the retail sector.

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Based on organization size, the digital payment market is segmented into large enterprises, small and medium-sized enterprises. In 2022, the large enterprises segment is expected to account for the largest share of the global digital payment market. Additionally, this segment is also expected to grow at the highest CAGR during the forecast period. The increasing number of high valuations transactions in large enterprises is compelling these enterprises to opt for premium digital payment solutions.

Based on geography, the digital payment market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the digital payment market. North America’s strong financial position enables it to invest heavily in advanced solutions and technologies, which has provided regional organizations with a competitive edge in the market. The growing use of smartphones, increasing internet speed and reliability, and a growing user base of tech-savvy millennials provide significant opportunities for this market’s growth and integration.

The report also includes an extensive assessment of the key growth strategies adopted by the leading market participants between 2020 and 2022. The key players operating in the digital payment market are PayPal Holdings, Inc. (U.S.), Fiserve, Inc. (U.S.), FIS (U.S.), Block, Inc., formerly Square, Inc. (U.S.), Stripe, Inc. (U.S.), Visa, Inc. (U.S.), Mastercard (U.S.), Worldline (France), Temenos (Switzerland), PayU (Netherlands), Apple Inc. (U.S.), JPMorgan Chase & Co. (U.S.),  WEX Inc. (U.S.), ACI Worldwide, Inc. (U.S.), and FleetCor Technologies, Inc. (U.S.).

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Biometric Systems Market: Technology and Applications..

 

Meticulous Research®, a distinguished leader in global market research, has unveiled its latest report titled "Biometrics Systems Market by Offering, Biometric Type (Fingerprint Recognition, Voice Recognition), Contact Type, Authentication Type, Platform, Application, End User (Government, Military & Law Enforcement, and Other End Users)—Global Forecast to 2029." This comprehensive study forecasts a promising trajectory for the global biometric systems market, projecting a Compound Annual Growth Rate (CAGR) of 12.4% from 2022 to 2029, with an anticipated valuation of $51.6 billion by the end of the forecast period.

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The growth of the biometric systems market is fuelled by several key drivers, including the increasing demand for mobile biometric devices, governmental initiatives driving biometric technology adoption, expanding applications in consumer electronics for authentication and identification, and the heightened need for security measures in military and law enforcement sectors. Despite these favourable trends, challenges such as substantial costs associated with biometric systems and misconceptions surrounding their implementation hinder market growth to some extent. Nevertheless, the growing demand for biometric solutions across developed and developing regions presents significant growth opportunities.

Meticulous Research® has segmented the market meticulously based on offering (hardware and software), biometric type (fingerprint recognition, face recognition, voice recognition, iris recognition, signature recognition, vein recognition, palm print recognition, and other biometric types), authentication type (single-factor authentication and multi-factor authentication), contact type (contact-based, contactless, and hybrid), platform (on-site, mobile devices, PCs, & wearable devices), application (digital identification, access control & authentication, security & surveillance, and other applications), end user (IT & telecom, government bodies, finance & insurance, retail, military & law enforcement, healthcare, recreation, education, transportation/warehousing, and other end users), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

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In 2022, the hardware segment is poised to dominate the market, fueled by growing demand for mobile biometric devices and hardware-centric security features. Additionally, fingerprint recognition is anticipated to hold the largest market share within biometric types, driven by its widespread adoption in law enforcement, government sectors, and consumer electronics. Moreover, the Asia-Pacific region is expected to lead in market share due to the presence of key manufacturers and rapid economic growth.

Key players driving innovation and growth in the biometric systems market include NEC Corporation (Japan), CardLogix Corporation (U.S.), Fujitsu Limited (Japan), Thales (France), Integrated Biometrics, LLC (U.S.), Iris ID, Inc. (U.S.), Suprema Inc. (South Korea), HID Global Corporation (U.S.), Precise Biometrics (Sweden), Aware, Inc. (U.S.), Daon, Inc. (U.S.), M2SYS Technology (U.S.), BIO-key International (U.S.), Cognitec Systems GmbH (Germany), BioRugged (South Africa), DERMALOG Identification Systems GmbH (Germany), IDEMIA (France), and ImageWare Systems, Inc. (U.S.).

TOP 10 COMPANIES IN BIOMETRIC SYSTEM MARKET>> https://meticulousblog.org/top-10-companies-in-biometric-systems-market/

Blockchain Gaming Market to be Worth $165.4 Billion by 2030

 

Meticulous Research®—a leading global market research company, published a research report titled, ‘Blockchain Gaming Market by Platform (Ethereum, Polygon, Solana, Cardano, EOS, Biance Smart Chain), Model (Free-to-play, Pay-to-play, Play-to-earn), Genre, and Geography - Global Forecast to 2030.’

 

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According to this latest publication from Meticulous Research®, the global blockchain gaming market is projected to reach $165.4 billion by 2030, at a CAGR of 51.7% from 2023 to 2030. The growth of this market is driven by the proliferation of player-driven economies, the increasing need for secured and transparent gaming environments for players, and growing investments and funding in blockchain gaming. Additionally, the cross-game interoperability in multiple games or platforms, non-fungible tokens (NFTs), and play-to-earn model trends are expected to create market growth opportunities. However, complex standards & regulations for blockchain gaming restrain the growth of this market. Cybersecurity & data privacy issues are major challenges for players in this market.

 

Integration of game finance (GameFi), decentralized finance (DeFi), metaverse, and other virtual worlds are prominent trends in the blockchain gaming market.

 

The global blockchain gaming market is segmented by platform, model, and genre. The study also evaluates industry competitors and analyzes the market at the region/country level.

 

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Based on platform, the global blockchain gaming market is broadly segmented into Ethereum, Polygon, Binance Smart Chain (BSC), Cardano, Flow, Solana, Electro-Optical System (EOS), and other platforms. In 2023, the Ethereum segment is expected to account for the largest share of the global blockchain gaming market. The large market share of this segment is attributed due to its compatibility with various programming languages for flexible development options, robust token standards for creating and managing non-fungible tokens (NFTs), smart contract functionality and programmable in-game logic, and growing need for transparency, immutability, & seamless transfer of digital assets across games.

 

However, the Binance Smart Chain segment is projected to register the highest CAGR during the forecast period due to its lower transaction fees, higher transaction throughput, cross-chain asset transfers, seamless integration with other blockchain platforms and networks, and access to a broader range of players from different ecosystems.

 

Based on model, the global blockchain gaming market is broadly segmented into free-to-play (F2P), pay-to-play (P2P), play-to-earn (P2E), and other models. In 2023, the free-to-play segment is expected to account for the largest share of the global blockchain gaming market. This segment's large market share is attributed to its easy accessibility to a wide audience without upfront purchase or subscription fee, continuous content updates, the rise of smartphones and mobile gaming, and its ability to allow players seamlessly switch between different devices and continue their progress.

 

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Based on genre, the global blockchain gaming market is broadly segmented into action/adventure, sandbox, simulation and sports, role-playing, player vs. player, a multiplayer online battle arena, real-time strategy, shooters, racing, puzzlers and party games, survival horror, and other genres. In 2023, the action/adventure games segment is expected to account for the largest share of the global blockchain gaming market. The large market share of this segment is attributed due to the increasing availability of action/adventure games across multiple platforms, including consoles, PCs, and mobile devices, and increasing investment from game developers and publishers for higher-quality productions, larger marketing campaigns, and greater market visibility for action/adventure games.

 

However, the role-playing segment is projected to register the highest CAGR during the forecast period due to its ability to create compelling and engaging gameplay experiences, expansive and open-world environments for players to explore, integration of augmented reality (AR)/virtual reality (VR) technology for immersive and interactive experiences, convenience and accessibility of playing RPGs on smartphones, incorporation of new game design elements to cater to changing player preferences and integration of online multiplayer features in RPGs.

 

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Based on geography, the global blockchain gaming market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global blockchain gaming market, followed by North America and Europe. The region is also expected to witness rapid growth during the forecast period. The large market share of Asia-Pacific is mainly attributed to the increasing internet and smartphone penetration, supportive regulatory frameworks that provide clarity and guidance for blockchain gaming companies, growing interest in innovative gaming models, and growing esports market in countries including China, India, Japan, and South Korea.

 

Key Players:

 

The key players operating in the blockchain gaming market are Sky Mavis (Singapore), Enjin Pte. Ltd. (Singapore), Immutable (Australia), Decentraland Foundation (China), Gala Games (U.S.), Animoca Brands Corporation Limited (Hong Kong), MyCryptoHeroes (Japan), Dapper Labs, Inc. (Canada), WAX (Worldwide Asset eXchange) (U.S.), Forte Labs, Inc. (U.S.), Lucid Sight (U.S.), Chromia (Sweden), Ultra (France), Mythical Games (U.S.), Splinterlands (U.S.), Wemade Co., Ltd  (South Korea), Dacoco Gmbh (Switzerland), Illuvium (Australia), Uplandme, Inc. (U.S.), and Sorare (France).

 

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English Language Learning Market: Methodology and Application

 

Meticulous Research®—a leading global market research company, published a research report titled, ‘English Language Learning Market by Methodology (Blended Learning, Offline Learning, Online Learning), Learning Mode, Age Group, End User (Individual Learners, Educational Institutes, Government Bodies), and Geography - Global Forecast to 2030.’

 

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According to this latest publication from Meticulous Research®, the English language learning market is projected to reach $77.9 billion by 2030, at a CAGR of 10.5% from 2023-2030. The growth of the English language learning market is driven by the rising importance of English in business and professional areas, increasing investments in start-ups and small companies providing language education, the high affordability of English language learning apps, and the growing need for cross-border communication. However, the reluctance to accept English as the primary language in some countries restrains the growth of this market.

 

Furthermore, increasing government spending on the education sector and the growth in transnational education (TNE) are expected to generate growth opportunities for the players operating in this market. However, the shortage of trained English tutors is a major challenge impacting the growth of the English language learning market.

 

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The English language learning market is segmented by methodology (blended learning, offline learning, online learning), learning mode (self-learning apps and applications, tutoring), age group (<13 years, 13–17 years, 18-20 years, 21-30 years, 31-40 years, > 40 years), end user (individual learners, educational institutes, government bodies, and corporate learners). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

 

Based on methodology, the English language learning market is segmented into blended learning, offline learning, and online learning. In 2023, the blended learning segment is expected to account for the largest share of the English language learning market. The large market share of this segment is attributed to the increasing demand for personalized learning, the rising adoption of advanced offline and online learning systems among students and working professionals, the increasing importance of effective learning methodologies, and students’ preference for the flexibility to learn at their own pace.

 

However, the online learning segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing mobile phone user base, increasing digitalization in the education sector, the increasing investments in E-learning programs, and the emergence of new online learning platforms.

 

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Based on learning mode, the global English language learning market is segmented into self-learning apps and applications and tutoring. In 2023, the tutoring segment is expected to account for the larger share of the global English language learning market. The large market share of this segment is attributed to the growing investments in e-learning tools and technologies to enhance the teaching experience, the increasing need for education, and the demand for cost-effective programs to address the knowledge gap in students.

 

However, the self-learning apps and applications segment is projected to register a higher CAGR during the forecast period. The growth of this segment is driven by the increasing consumer acceptance of low-cost technology-based products, increasing digitalization of content, and the growing e-learning market.

 

Based on age group, the global English language learning market is segmented into <13 years, 13-17 years, 18-20 years, 21- 30 years, 31-40 years, and >40 years. In 2023, the 13-17 years segment is expected to account for the largest share of the global English language learning market. The large market share of this segment is attributed to the increasing digitization of public schools, the rising number of English learners, the significant increase in smartphone users, the increasing demand for kids' learning apps, the rising preference for interactive and engaging learning experiences, and increasing need for immersive and practical language practice.

 

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Based on end user, the global English language learning market is segmented into individual learners, educational institutes, government bodies, and corporate learners. In 2023, the individual learners segment is expected to account for the largest share of the global English language learning market. The large market share of this segment is attributed to the rising adoption of smart devices, increasing internet accessibility, proliferation of social media platforms, and the presence of numerous well-established language learning sites. Moreover, this segment is projected to register the highest CAGR during the forecast period.

 

Based on geography, the English language learning market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global English language learning market. Asia-Pacific’s major market share can be attributed to several factors, including the rising trend of digitalizing educational content, growing demand for language skills for cross-border work and collaboration, the widespread availability of E-learning courses, increasing popularity of English learning programs, expanding Internet accessibility, heightened government focus on education through various initiatives, and a growing emphasis on enhancing employability and job prospects. Moreover, this region is projected to register the highest CAGR during the forecast period.

 

The key players operating in the English language learning market are Cambridge University Press & Assessment (U.K.), New Oriental Education & Technology Group Inc. (China), Houghton Mifflin Harcourt Publishing Company (U.S.) (A Subsidiary of Veritas Capital Fund Management, L.L.C.), McGraw-Hill Education, Inc. (U.S.) (A Subsidiary of Platinum Equity, LLC), Duolingo, Inc. (U.S.), Berlitz Corporation (U.S.) (A Subsidiary of Benesse Holdings, Inc.), Busuu Limited (Spain) (A Subsidiary of Chegg, Inc.), Babbel GmbH (Germany), ATI STUDIOS A.P.P.S. S.R.L (Mondly) (Romania), ELSA Corp. (U.S.), FluentU (China) (A PART OF Enux Education Limited), Memrise Limited (U.K.), Mango Languages (U.S.), Rosetta Stone LLC (U.S.), inlingua International Ltd. (Switzerland), Sanako Oy (Finland), Transparent Language, etc.

 

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Related Report:

Ø  South East Asia English Language Learning Market by Methodology (Blended Learning, Online Learning), Learning Mode, Age Group, End User (Individual Learners, Educational Institutes, Corporate Learners), and Country - Forecast to 2030 >> https://www.meticulousresearch.com/product/south-east-asia-english-language-learning-market-5677?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=22-02-2024

 

Ø  Europe English Language Learning Market by Methodology (Blended Learning, Offline Learning, Online Learning), Learning Mode, Age Group, End User (Individual Learners, Educational Institutes, Corporate Learners), and Country - Forecast to 2030 >> https://www.meticulousresearch.com/product/europe-english-language-learning-market-5668?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=22-02-2024

Wearable Medical Devices Market: Type, and Opportunity

 

Meticulous Research®—a leading market research company, published a research report titled, 'Wearable Medical Devices Market by Type (Smart Watch, Activity Monitor, Patch), Application (Monitoring {Glucose, BP, Sleep, RPM}, Therapeutic {Pain, Rehabilitation, Insulin), Grade (Consumer, Medical), Distribution Channel – Global Forecast to 2030.’

 

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According to this latest publication from Meticulous Research®, the wearable medical devices market is projected to reach $184.49 billion by 2030, at a CAGR of 19.5% from 2023 to 2030. The growth of the wearable medical devices market is driven by several factors, including growing efficiency and accuracy regarding patient data, increasing geriatric population, increasing prevalence of chronic diseases, and increasing adoption of home healthcare as an alternative to hospitals. Factors such as the potential to expand in emerging economies, an increase in the use of telehealth and services, and technological advancements in sensor technologies are a few of the opportunities that would help grow the market in the future.

 

Factors such as lack of privacy and the high cost of wearable medical devices could be considered challenges for the market. However, the manufacturing defects concerned with these wearable medical devices and the reluctance to adopt newer technologies compared to traditional healthcare technologies restrain the market's growth.

 

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The key players profiled in the wearable medical devices market report are Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), Fitbit, Inc. (U.S.), Apple, Inc. (U.S.), OMRON Corporation (Japan), VitalConnect, Inc. (U.S.), Garmin Ltd. (U.S.), Sotera Digital Health (U.S.), Abbott Laboratories (U.S.), DexCom, Inc. (U.S.), and Withings (France).

 

The wearable medical devices market is segmented by Type (Smartwatches, Activity Monitors, Patches/Stick-Ons, Other Types), Application [Diagnostic and Monitoring Devices {Vital Monitoring Devices, Glucose Monitoring Devices, Blood Pressure Monitoring Devices, Sleep Monitoring Devices, Respiratory Monitoring Devices, Other Diagnostic and Monitoring Applications}, Therapeutic Devices {Pain Management Devices, Rehabilitation Devices, Insulin Delivery, Other Therapeutic Applications}], Distribution Channel (E-commerce, Hospitals & Pharmacies, Retail Channels), Grade (Consumer Grade, Medical Grade), and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

 

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Based on type, in 2023, the smartwatches segment is expected to account for the largest share of the market due to their benefits, such as easy availability, reasonable costs and quick outcomes or results of health parameters such as step counts, heart rate, oxygen levels, and blood pressure. Apart from this, most wearables are only concerned with monitoring or treating a certain kind of disease or condition, whereas smartwatches measure many vitals such as blood pressure, oxygen levels, and sleeping patterns all at the same time. These features are driving the demand among consumers to buy smartwatches and follow fitness regimes for a healthy lifestyle, thus leading to the growth of this market.

 

Based on application, the diagnostic and monitoring devices segment is expected to account for the largest share of the market. These devices are used to monitor the vital signs produced by the body, such as blood pressure, oxygen levels, heart rate, and sleep data. The use of wearable medical devices has been growing gradually over the years, but it has seen a sudden jump after the pandemic. Factors such as improved patient health and data handling, increasing self-monitoring and patient engagement, and increasing prevalence of chronic diseases drive the growth of this segment.

 

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Based on distribution channel, the E-commerce segment is projected to register the highest CAGR during the forecast period. E-commerce distribution channels are becoming popular as consumers prefer to purchase devices through E-commerce websites. This is due to its ease of access, affordable rates, doorstep delivery, and convenience. Additionally, 24/7 buying, selling and customer support for the devices sold and a large variety of products drive the growth of this segment.

 

Based on grade, in 2023, the consumer grade segment is expected to account for the largest share of the market. Consumer grade includes products or devices developed by wearable device companies but not approved by a government organization such as the FDA and cannot be used for clinical purposes. Apart from this, increasing awareness of fitness and a healthy lifestyle is leading people to buy these devices. Easy health and fitness tracking, low-cost devices, variety of choices of wearables are some of the factors driving this segment's growth.

 

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the wearable medical devices market, followed by Europe and Asia-Pacific. North America’s major market share is attributed to the increasing geriatric population, high prevalence of chronic diseases, the rising popularity of wearable devices due to new and advanced features for health and fitness tracking, and large amounts of disposable income driving the market growth in North America.

 

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Automotive Lubricants Market: Vehicle Type, and Applications

  

Meticulous Research®—a leading global market research company, published a report titled, 'Automotive Lubricants Market by Product Type (Engine Oil, Transmission & Hydraulic Fluids, Gear Oil, Grease, Chain Oil, Brake Fluids), Vehicle Type, Composition, Sales Channel, and Geography - Global Forecast to 2030.’

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According to this latest publication from Meticulous Research®, the automotive lubricants market is projected to reach $114.2 billion by 2030, at a CAGR of 7.8% during the forecast period. The growth of the automotive lubricants market is driven by the growing demand for high-performance lubricants, the rapid development of transportation infrastructure, the growing automotive industry with increasing vehicle production, and the rising adoption of sustainable lubricants. However, the reduced need for automotive lubricants due to the penetration of electric vehicles and the volatile nature of the prices of raw materials may restrain the market’s growth.

 

The significant growth opportunities from emerging economies and the rising demand for environment-friendly lubricants are expected to offer significant growth opportunities for the automotive lubricants market. However, the need for producing compatible lubricants for EVs and hydrogen fuel cell engines and the volatile pricing of automotive lubricants may hinder the growth of this market. Furthermore, the increasing need for thinner engine oil is the latest trend in the automotive lubricants market.

 

Meticulous Research® has segmented this market based on product type, vehicle type, composition, sales channel, and geography for efficient analysis. The study also evaluates industry competitors and analyses the market at the regional and country levels.

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Based on product type, the automotive lubricants market is segmented into engine oil, transmission & hydraulic fluids, gear oil, grease, chain oil, brake fluids, and other products. In 2023, the engine oil segment is expected to account for the largest share of the automotive lubricants market. The large market share of this segment is attributed to the rising need to improve the fuel efficiency of ICE vehicles, high demand for engine oil replacements from the automobile aftermarket segment, and growing demand for maintaining proper engine operation and reducing fuel consumption & CO2 emissions. However, the grease segment is projected to register the highest CAGR during the forecast period.

 

Based on vehicle type, the automotive lubricants market is segmented into internal combustion engine vehicles, electric vehicles, natural gas engines, and hydrogen-powered vehicles. In 2023, the internal combustion engine vehicles segment is expected to account for the largest share of the automotive lubricants market. The large market share of this segment is attributed to the technological developments in terms of efficiency and performance to boost the product demand for higher-performing IC engines, stringent government regulations related to emissions, and the consistently rising demand to accelerate the growth of high-performance IC engines. However, the electric vehicles segment is projected to register the highest CAGR during the forecast period.

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Based on composition, the automotive lubricants market is segmented into mineral oil lubricants, fully synthetic oil lubricants, and semi-synthetic lubricants. In 2023, the fully synthetic oil lubricants segment is expected to account for the largest share of the automotive lubricants market. The large market share of this segment is attributed to the advantages of high-performance and advanced engines, low overall viscosity and reduced friction in the fluid, their ability to provide high-quality lubrication, and the growing need for better fuel economy and reduced vehicle emissions. In addition, this segment is projected to register the highest CAGR during the forecast period.

 

Based on sales channel, the automotive lubricants market is segmented into original equipment manufacturers and aftermarket. In 2023, the aftermarket segment is expected to account for the largest share of the automotive lubricants market. The large market share of this segment is attributed to the increasing need for car ownership, especially in emerging economies, the presence of a huge customer base, stringent government regulations related to CO2 emission, and the rising consumer awareness regarding the use of lubricants to maintain vehicle efficiency and achieve better fuel economy. In addition, this segment is projected to register the highest CAGR during the forecast period.

 

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Based on geography, the automotive lubricants market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the market. The large share of this market share is attributed to the rapid growth in the automotive industry, the growing transportation industry, and strong government support to promote the automotive industry. In addition, the presence of key lubricants and auto manufacturers and the abundant availability of raw materials in the region further supports the growth of the automotive lubricants Asia-Pacific market. In addition, this region is projected to register the highest CAGR during the forecast period.

 

The key players operating in the automotive lubricants market are Shell International B.V. (Subsidiary of Shell Plc) (Netherlands), Exxon Mobil Corporation (U.S.), FUCHS PETROLUB SE (Germany), Motul (France), Phillips 66 Company (U.S.), Repsol, S.A. (Spain), SK Enmove Co., Ltd. (South Korea), China National Petroleum Corporation (China), Klüber Lubrication München Se & Co. KG (Subsidiary of Freudenberg Group) (Germany), Amsoil Inc. (U.S.), Petróleo Brasileiro S.A. — Petrobras (Brazil), Valvoline Inc. (U.S.), Sinopec India(China), Chevron Corporation (U.S.), BP P.L.C. (U.K.), and Castrol  Limited (U.K.).

 

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Plant-based Milk Market: Application and Benefits

 

Meticulous Research®—a leading global market research company, published a research report titled ‘Plant-based Milk Market by Type (Almond Milk, Soy Milk, Coconut Milk, Oat Milk, Rice Milk), Formulation (Unflavored, Flavored), Distribution Channel (B2B, B2C [Modern Groceries, Convenience Store, Specialty Store, Online Retail]) - Global Forecast to 2030’.

 

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According to this latest publication from Meticulous Research®, the plant-based milk market is projected to reach $47.55 billion by 2030, at a CAGR of 11.7% from 2023 to 2030. The growth of the plant-based milk market is driven by the high prevalence of lactose intolerance & allergies to cow milk, the growing focus on health & well-being, changing eating habits & consumers’ drive toward sustainability, and increasing investments & government support for plant-based industries. However, the high preference for animal-based milk products and the growing consumption of soy-free & gluten-free products restrain the growth of this market.

 

Emerging economies in Asia-Pacific and Latin America are expected to generate market growth opportunities. However, the fluctuating raw material prices are a major challenge for market stakeholders.

 

The plant-based milk market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the plant-based milk market are Hain Celestial Group, Inc. (U.S.), SunOpta Inc. (Canada), Sanitarium Health and Wellbeing Company (Australia), Axiom Foods, Inc. (U.S.), Earth's Own Food Company, Inc. (Canada), Sunrise Soya Foods (Canada), Campbell Soup Company (U.S.), Danone S.A. (France), Plamil Foods Ltd. (U.K.), Sahmyook Foods (South Korea), Nestlé S.A. (Switzerland), Natura Foods (Canada), Blue Diamond Growers (U.S.), and Oatly Group AB (Sweden).  

 

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The plant-based milk market is segmented by type (almond milk, soy milk, coconut milk, oat milk, rice milk, and other plant-based milk), formulation (unflavored and flavored), distribution channel (business-to-business and business-to-consumer {modern groceries, convenience stores, specialty stores, online retail stores, and other b2c distribution channels), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the regional and country-level markets.

 

Based on type, the plant-based milk market is mainly segmented into almond milk, soy milk, coconut milk, oat milk, rice milk, and other plant-based milk. In 2023, the almond milk segment is expected to account for the largest share of the global plant-based milk market. The large market share of this segment is mainly attributed to factors such as the increasing number of consumers switching to nut-based lactose-free milk, changing taste preferences, and growing health & environmental concerns. Almond milk is entirely plant-based, making it a suitable choice for individuals following vegan or vegetarian diets. The production of almond milk generally has a lower environmental impact compared to dairy milk, as it requires less water and produces fewer greenhouse gas emissions.

 

Based on formulation, the global plant-based milk market is segmented into unflavored and flavored plant-based milk. In 2023, the unflavored segment is expected to account for the largest share of the global plant-based milk market. The large market share of this segment is mainly attributed to factors such as the increased consumer demand for naturally dairy-free & sugar-free products and the clean taste and smooth texture of unflavored dairy-free products, which allow for their seamless incorporation into various food and beverage recipes.

 

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Based on the distribution channel, the global plant-based milk market is mainly segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2023, the business-to-consumer (B2C) is expected to account for the largest share of the global plant-based milk market. The large market share of this segment is attributed to the increased retail sales of plant-based milk in supermarkets & hypermarkets, increased shelf space for plant-based products in modern groceries, rising preference for shopping from brick-and-mortar grocers due to easy access & availability and growing consumer acceptance for vegan & vegetarian dairy alternatives, especially plant-based milk.

 

This research report analyzes major geographies and provides a comprehensive analysis of North America (the U.S. and Canada), Europe (Germany, U.K., Spain, Italy, France, Netherlands, Sweden, Belgium, Austria, Denmark, Poland, Portugal, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, Thailand, South Korea and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa.

 

In 2023, Asia-Pacific is expected to account for the largest share of the global plant-based milk market. The large share of this market is mainly attributed to consumers’ increasing awareness about the benefits of protein-rich foods, growing health consciousness, the rising adoption of advanced technologies in the F&B industry, and the region’s large vegan & vegetarian population base.

 

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Water Quality Testing Market: Test Type and Industry Sector

 

Meticulous Research®—a leading global market research company, published a research report titled, ‘Water Quality Testing Market by Offering, Test Type (Physical Test, Chemical Test), Device Type, Product Type (pH Meter, TOC Analyzer), Sector (Laboratory, Government, Environmental Institutes, Industrial Sector) - Global Forecast to 2030.’

 

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According to this latest publication from Meticulous Research®, the water quality testing market is projected to reach $5.1 billion by 2030, at a CAGR of 6.4% during the forecast period. The growth of the water quality testing market is driven by rapid population growth, urbanization, stringent legislation on maintaining water quality, lack of freshwater resources, and increasing prevalence of waterborne diseases. However, the high costs of water testing technologies and the reluctance of local government bodies to adopt new technologies may restrain the market's growth.

 

Furthermore, innovative water processing technologies and organizations' rising R&D expenditure are expected to offer significant growth opportunities for the water quality testing market. However, the shortage of trained laborers & experts and lack of awareness of the appropriate usage of water testing techniques may hinder the growth of this market.

 

Meticulous Research® has segmented this market based on offering, test type, device type, product type, sector, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

 

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Based on offering, in 2023, the solutions segment is expected to account for the larger share of the water quality testing market. The large market share of this segment is attributed to the growing adoption of innovative & advanced solutions and high investments in the R&D of water testing equipment.

 

Based on test type, in 2023, the physical test segment is expected to account for the largest share of the water quality testing market. The large market share of this segment is attributed to the increasing adoption of advanced technologies that mainly focus on developing physical testing kits.

 

Based on device type, in 2023, the portable device segment is expected to account for the largest share of the water quality testing market. The large market share of this segment is attributed to the increasing demand for portable water testing equipment that can be carried out in the field or in a temporary laboratory to analyze physical, chemical, and microbiological contaminants.

 

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Based on product type, in 2023, the pH meter segment is expected to account for the largest share of the water quality testing market. The large market share of this segment is attributed to the increasing adoption of pH meters in various industrial sectors and the rising concerns about the adverse effects of acidic or alkaline water in industrial settings.

 

Based on sector, in 2023, the industrial sector segment is expected to account for the largest share of the water quality testing market. The large market share of this segment is attributed to increasing industrialization and urbanization, declining freshwater resources, and a rising focus on water quality and public health.

 

Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the water quality testing market. The Asia-Pacific region's significant market share can be attributed to various factors, including the increasing environmental deterioration, declining availability of clean water, rising public-sector investment in water infrastructure, and growing research and development expenditures.

 

The key players operating in the water quality testing market are Horiba, Ltd. (Japan), Mettler-Toledo International, Inc. (U.S.), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (U.S.), Tintometer GmbH (Germany), Bureau Veritas (France), Neogen Corporation (U.S.), ALS Limited (Australia), LaMotte Company (U.S.), SGS Société Générale de Surveillance SA (France), Eurofins Scientific SE (Luxembourg), Intertek Group plc (U.K.), Chemetrics, Inc. (U.S.), Geotech Environmental Equipment Inc. (U.S.), Agilent Technologies, Inc. (U.S.), and Applied Membranes, Inc. (U.S.).

 

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Pharmaceutical Processing and Packaging Equipment Market: Demand, Trend and Applications

 

Meticulous Research®, a renowned leader in global market research, unveils its latest report titled “Pharmaceutical Processing and Packaging Equipment Market.” This comprehensive study delves into the dynamics of the pharmaceutical processing and packaging equipment sector, offering valuable insights into market trends, forecasts, and growth drivers.

According to the findings of Meticulous Research®, the global pharmaceutical processing and packaging equipment market is forecasted to exhibit a robust CAGR of 4.5%, surging from $18.5 billion in 2021 to an estimated $25.2 billion by 2028. This growth trajectory is underpinned by several factors, including the expanding pharmaceutical landscape, escalating demand for generic drugs, a paradigm shift toward flexible manufacturing, government initiatives in emerging economies to bolster local pharmaceutical production, and the burgeoning trend of contract manufacturing.

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Key Market Insights:

Future Outlook: The report presents a comprehensive analysis encompassing historical market data for the years 2019 and 2020, estimated current data for 2021, and forecasts extending to 2028. Segmentation includes Processing and Primary Packaging Market based on Formulations (Oral, Parenteral, Topical, and Other Formulations), Secondary Packaging (Cartoning Equipment, Carton Labeling & Serialization Equipment, Wrapping Equipment, and Other Equipment), End-of-Line (Case Packaging, Palletizing & Depalletizing Equipment, and Other Equipment), and Geography.

Segment Analysis: In 2021, the cartoning equipment segment is anticipated to command the largest market share among secondary packaging equipment types. Regulatory recommendations favoring carton packaging for pharmaceuticals, coupled with the convenience, lightweight, and cost-effectiveness of cartons, are driving market growth.

Geographical Insights: North America is poised to lead the global pharmaceutical processing and packaging equipment market in 2021, followed by Europe and Asia-Pacific. Factors such as a robust pharmaceutical industry, increased R&D expenditure, and the transition to generic drugs amid rising healthcare costs contribute to the dominance of the North American region. However, Asia-Pacific is projected to witness the highest CAGR during the forecast period, fueled by burgeoning pharmaceutical activities and supportive regulatory frameworks.

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Key Players: The report profiles key players shaping the global pharmaceutical processing and packaging equipment market, including ACIC Pharmaceuticals Inc., Bausch+Ströbel, IDEX Corporation, JEKSON VISION, Kevin Process Technologies Pvt. Ltd., and others.

The comprehensive analysis covers major geographies, including North America (U.S. and Canada), Europe (Switzerland, Italy, Germany, U.K., France, Ireland, Spain, Denmark, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and Middle East & Africa.

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Related Reports:

>> The Europe Pharmaceutical Processing and Packaging Equipment Market is projected to reach $7.2 billion by 2030, at a CAGR of 3.6% from 2023 to 2030. >> https://www.meticulousresearch.com/product/europe-pharmaceutical-processing-and-packaging-equipment-market-5548?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=15-02-2024

>> The Asia-Pacific Pharmaceutical Processing and Packaging Equipment Market is projected to reach $7.21 billion by 2030, at a CAGR of 5.2% from 2023 to 2030. >> https://www.meticulousresearch.com/product/asia-pacific-pharmaceutical-processing-and-packaging-equipment-market-5614?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=15-02-2024

>> The South East Asia Pharmaceutical Processing & Packaging Equipment Market is projected to reach $ 1.02 billion by 2030, at a CAGR of 6.2% from 2023 to 2030. >> https://www.meticulousresearch.com/product/south-east-asia-pharmaceutical-processing-and-packaging-equipment-market-5717?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=15-02-2024

Plant-based Protein Market: Drivers and Applications

 

Meticulous Research®—a leading global market research company, published a research report titled, ‘Plant-based Proteins Market by Type (Soy Proteins, Wheat Proteins, Pea Proteins, Potato Proteins), Form (Solid, Liquid), Source Process (Conventional, Organic), and Application (Food and Beverages, Animal Feed, Nutritional Supplements) - Global Forecast to 2031.’

 

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According to this latest publication from Meticulous Research®, the plant-based proteins market is projected to reach $26.45 billion by 2031, at a CAGR of 8.4% from 2024–2031. The growth of the plant-based proteins market is mainly driven by the rising need for protein-rich diets, growing health and wellness trends, increasing consumer focus on meat alternatives, rising demand from the food & beverage industry, and advancements in ingredient technologies, such as microencapsulation. However, the consumer preference for animal-based products and fluctuating raw material prices are expected to hinder the growth of this market.

 

Furthermore, consumers’ increasing inclination toward plant-based diets, emerging economies, and rising prevalence of intolerance to animal proteins are expected to generate growth opportunities for the players operating in the plant-based proteins market.

 

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Key Players

 

The key players operating in the global plant-based proteins market are Archer-Daniels-Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères (France), Ingredion Incorporated (U.S.), Kerry Group plc (Ireland), International Flavors & Fragrances, Inc. (IFF) (U.S.), Now Health Group, Inc. (U.S.), Tate & Lyle Plc (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (A Part of Südzucker AG) (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia Plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest-Tallman Foods Corporation (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.).

 

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The global plant-based proteins market is segmented by type, form, source process, application, and geography.

 

Based on type, the global plant-based proteins market is segmented into soy proteins, wheat proteins, pea proteins, canola proteins, potato proteins, rice proteins, corn proteins, and other types. In 2024, the soy proteins segment is expected to account for the largest share of the global plant-based proteins market. The large market share of this segment is mainly attributed to its easy availability, lower price of soy protein than other protein sources, increased demand for meat protein alternatives, a wide range of applications in various products, greater consumer awareness, and multiple health benefits.

 

Based on form, the global plant-based proteins market is categorized into solid (dry) and liquid. In 2024, the solid segment is expected to account for the larger share of the global plant-based proteins market. The large market share of this segment is attributed to the increasing demand for powdered plant-based protein due to its benefits, such as ease of handling and transport, comparatively lower costs, low chances of formulation errors, and ingredient stability. This segment is also expected to register the highest CAGR during the forecast period.

 

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Based on source process, the global plant-based proteins market is broadly segmented into conventional plant-based protein ingredients and organic plant-based protein ingredients. In 2024, the conventional plant-based protein ingredients segment is expected to account for the larger share of the global plant-based proteins market. The large market share of this segment is attributed to the widespread availability of crops cultivated through traditional harvesting methods (utilizing chemical fertilizers), the easy accessibility to cost-effective conventional plant-based protein ingredients, the extended shelf life of these proteins, and the availability of a diverse range of crop varieties.

 

Based on application, the global plant-based proteins market is segmented into food & beverage, animal feed, nutrition & health supplements, pharmaceuticals, and other applications. In 2024, the food & beverage segment is expected to account for the largest share of the global plant-based proteins market. The large market share of this segment is mainly attributed to increasing consumer preference for plant-based foods and ingredients, growing awareness and demand for protein-rich food products, plant-based proteins' versatile functionality and compatibility with vegetarian and vegan lifestyles, and the rising clean-label trend.

 

Based on region, the global plant-based proteins market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the global plant-based proteins market. The leading position of this region is primarily attributed to the well-established food and beverage industry, rising concerns over animal products and protein, increasing vegan population, growing preference for meat alternatives, and increasing demand for healthy & nutritional products and health & wellness trends.

 

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Related Report:

 

The Asia-Pacific Plant-Based Protein Market is expected to reach $7.27 billion by 2030, at a CAGR of 12% during the forecast period of 2023 to 2030.  >> https://www.meticulousresearch.com/product/asia-pacific-plant-based-protein-market-5666?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=13-02-2024

 

The North America Plant-based Protein Market is expected to reach $11.32 billion by 2030, at a CAGR of 9.7% during the forecast period of 2023 to 2030.>> https://www.meticulousresearch.com/product/north-america-plant-based-protein-market-5637?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=13-02-2024

 

The Europe Plant-based Protein Market is expected to reach $7.83 billion by 2030, at a CAGR of 8.9% during the forecast period of 2023 to 2030.>> https://www.meticulousresearch.com/product/europe-plant-based-protein-market-5608?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=13-02-2024