Food and Services Industry - Market Research Report

  North America Cheese Powder Industry Overview The North America cheese powder market size was valued at USD 1,418.50 million in 2020 and is expected to witness a compound annual growth (CAGR) of 4.9% from 2021 to 2028. Increasing demand for natural flavors and ingredients from the food and beverages sector is expected to be a key driver for market growth. Changing consumer lifestyles and the high urbanization rate in North American countries are contributing to the growth of the Ready-To-Eat (RTE), and snacks segments, which, in turn, is driving the demand for exotic foods and flavors. However, increasing concerns regarding the safety of products and stringent regulations related to sanitation, labeling, storage, and processing of products could be a challenge for the industry participants. The U.S. was the worst-hit country by the Covid-19 pandemic in 2020. Preventive measures to contain the spread of the infection resulted in countrywide lockdowns throughout 2020, which major...

  North America Processed Meat Industry Overview The North America processed meat market size was valued at USD 26.40 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.5% from 2021 to 2028. The market is expected to witness decent growth in the years to come because of a surge in the demand for convenient and easy-to-eat food, leading to the growth of the meat manufacturing sector. The rising disposable income of consumers, coupled with an increase in the number of working professionals, will propel the market growth over the forecast period. The COVID-19 pandemic has caused disruptions in the market. The limited availability of some products in retail stores resulted in a price rise. COVID-19 outbreaks have taken place in numerous meat production facilities operating in the U.S. and Canada. These outbreaks affected a large number of plants, which led to the disruption of the supply chain, closure of some factories, and posed a substantial thre...

  Wine Industry Overview The global wine market size was valued at USD 417.85 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028. The rising adoption of wine among all age groups from the young generation to the old age population across the globe is the key factor for market growth. The COVID-19 pandemic has disrupted the global wine distribution channel due to the extensive closure of and restrictions on hotels and restaurants across the world. The sudden outbreak of pandemic has affected around 77% of hotels, with turnover falling by 60% across the sector, while restaurants saw sales down by 91% by the end of 2020 across the globe. Meanwhile, there has been a sudden change in the purchasing behavior of consumers. With restaurants, hotels, and bars shut or running on limited capacity, consumers have turned to food retailers as well as online portals to shop for the product. Direct-to-consumer sales have also benefited from...

  Food Additives Industry Overview The global food additives market size was valued at USD 98.22 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2020 to 2028. The requirement of improving taste, texture, mouthfeel, and overall appearance of food and beverages is expected to propel the demand for food additives. The growing food and beverages industry globally is the key factor driving the market. The consumption of packaged food products and beverages across the world is rising due to the changing dietary patterns of the population. This is expected to contribute to the surging demand for additives used during food processing to improve its quality and nutritional content. The preference for a plant-based diet and the growing interest of consumers to pay more for clean-label products in the U.S. have surged the consumption of food and drinks infused with natural ingredients. In May 2021, Ventura Foods, LLC, a U.S.-based company, laun...

  Pea Protein Industry Overview The global  pea protein market  size is projected to reach USD 554.9 million by 2028 registering a CAGR of 12.7% over the forecast period, according to a new report by Grand View Research, Inc. The market is majorly driven by rising health consciousness among consumers coupled with increasing product demand from the nutraceutical industry.   The nutraceutical supplements industry is evolving and has a dynamic space that offers lucrative opportunities to merge rising consumer interest and scientific discovery to enhance human health. As this industry tracks consumer trends, nutraceutical products directly respond to consumer buying behavior/habits, thereby encouraging prominent companies in the industry to market their products to their target audiences in an effective manner. Such factors have driven the product demand across the globe. Pea Protein Market Segmentation Grand View Research has segmented the global pea protein marke...

  Pet Food Ingredients Industry Overview The global  pet food ingredients market  size is expected to reach USD 59.45 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 5.9% during the forecast period Increasing pet ownership is one of the key trends escalating market growth. Rendered protein meals such as fishmeal, poultry by-product meals, and meat and bone meal are universally used in companion animal’s feed owing to protein-rich content along with a good balance of amino acids. Balancing essential and conditionally essential fatty acids is an important factor for the selection of specific fats in a diet regime. The global sales of dog foods with probiotics exhibited a whopping 139.0% growth from 2017 to 2018. Superfood is witnessing strong growth in sales, including 2.0% sales growth for pet foods with blueberry, 8.0% for cranberry, and 13.0% for sweet potato. Increasing focus on nutrition of companion animals and rising co...

  Steam Turbine Industry Overview The global  steam turbine market  size is expected to reach USD 19.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 2.3% from 2022 to 2030. The increasing deployment of combined heat and power (CHP) units in industrial and utility applications will boost market growth. Steam engines form an integral part of thermal power plants operating across the world. However, with increasing environmental concerns, the focus has been shifted from coal-fired thermal power stations to clean energy sources, including natural gas, fuel cells, and renewable energy generation plants.   The growth of Industrial segment of the market can be attributed to the increased industrial activities across the world. Steam turbines are employed in industrial applications in the form of CHP units. These units offer better efficiency than single units and produce outputs in multiple ways. Ste...