Tea Market Size, Growth, Demand & Opportunities 2031

 According to a new report published by Allied Market Research, titled, “Tea Market" The tea market size was valued at $49 billion in 2021, and is estimated to reach $93.2 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.

The market for tea is mostly driven by the health benefits associated with tea. Tea is one of the most popular beverages consumed in the world. Increase in demand for tea is driven by the several health benefits associated with it, such as it is rich in antioxidants such as polyphenols, which mainly include flavonoids and catechins. These prevent large-scale cellular destruction via stabilization of harmful free radicals present in the human body.

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Global Leading Players:

Associated British Foods Plc, BARRY'S TEA, HAIN CELESTIAL GROUP, ITO EN, Mcleod Russel India limited, Nestle S.A., TAETEA, Tata Global Beverages, The Republic of Tea, INC, UNILEVER GROUP

The nutritional composition of tea includes vitamins (C, K, B12, B6, and E), minerals (trace amount of potassium, manganese, magnesium, and calcium), and amino acids (L-theanine). Moreover, as per research conducted by different reputed organizations, tea has been proven to prevent different types of cancers, lower cholesterol, boost immunity, facilitate weight loss, and prevent neurological diseases. Altogether, the above-mentioned information indicates that the health benefits associated with tea drive the overall market.

The tea market trends shows high growth potential in Europe and North America region. The market in the North America region has been consolidating, due to high competition. Moreover, the shift in preference of consumers toward healthier alternatives to caffeinated beverages and toward tea and coffee is expected to provide growth of the tea market opportunities . Moreover, the Europe market for tea is driven by rise in the number of educated tea and coffee drinkers.

However, supply chain challenges can have a significant impact on the tea market growth. The majority of tea production takes place in specific regions, such as China, India, and Kenya. Any disruptions in these regions, such as natural disasters or political instability, can impact the availability and pricing of tea products, which can impact demand and sales. Tea is a perishable product that requires proper handling and storage to maintain its quality. Supply chain challenges, such as inadequate storage or transportation conditions, can impact the quality of tea products, leading to customer dissatisfaction and decreased demand. Overall, supply chain challenges can have a significant impact on the growth of the tea market.

The tea market forecast is segmented on the basis of type, packaging, application, distribution channel, and region. By type, the market is divided into green tea, black tea, oolong tea, dark tea, and others. By packaging, it is fragmented into plastic containers, loose tea, paperboard, aluminum tins, and tea bags. Applications covered in the study include residential and commercial. By distribution channel, it is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Based on distribution channel, it is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. The supermarkets/hypermarkets segment accounted for a major share of the tea market in 2021 and is expected to grow at a significant CAGR during the forecast period. Surge in consumption of caffeine beverages at home boosts the market growth in the residential segment.

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By region, the tea market analysis is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region accounted for a major share of the tea market in 2021 and is expected to grow at a significant CAGR during the forecast period. Tea has a rich cultural significance in many countries in the Asia-Pacific region, including China, Japan, India, and Sri Lanka. It has been consumed for centuries as part of traditional medicine and daily rituals. The cultural significance of tea has led to a high level of tea consumption in the region.

KEY FINDINGS OF THE STUDY    

• By type, the green tea segment was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.
• By packaging, the paperboard segment was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.
• By application, the residential segment was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.
• By distribution channel, the offline segment was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.
• By region, the North America region was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.

Sugar Alcohol Market Size Overview Covers Detail Analysis Share, Size, Future Opportunity to 2027

 According to a new report published by Allied Market Research, titled, “sugar alcohol market by type, form, and application: opportunity analysis and industry forecast, 2021–2027,” the global sugar alcohol market was valued at $3.3 billion in 2019, and is projected to reach $4.8 billion by 2027, registering a CAGR of 5.9% from 2021 to 2027. The market is expected to exhibit an incremental revenue opportunity of $1.3 billion from 2021 to 2027. Rise in demand for health consciousness and low-calorie food & beverage products propel the market growth. Moreover, rise in demand for sugar substitutes or alternatives due to consumer preferences shifting toward a healthier lifestyle is expected to drive growth of the global sugar alcohol market.

According to the sugar alcohol market analysis, the key players operating in the market include Cargill Incorporated, Spectrum Chemical Manufacturing Corp., Ingredion Incorporated, Archer Daniels Midland Company, Roquette Freres SA, Mitsubishi Shoji Foodtech Co. Ltd, Tate & Lyle PLC¸ Atlantic Chemicals Trading GmbH, Associated British Foods plc (SPI Pharma) and DuPont. 

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Rise in consumption of nutraceuticals among consumers in the form of functional foods, dietary supplements, and functional beverages fuel the sugar alcohol market growth. This is attributed to the fact that polyols are used in numerous pharmaceutical and nutraceutical products, owing to their coating, sweetening, emollient, bulking, anti-crystallizing, and stabilizing properties. Furthermore, sugar alcohols combine synergistically with other low-calorie sweeteners to provide a more balanced sweetness, which is comparable to sugars. Hence, owing to these unique properties, polyols are used in a number of food applications. However, high cost of production as compared to sugar is anticipated to hinder the growth of sugar alcohol market. 

COVID-19 was declared a pandemic by the WHO in the earlier half of 2020. The coronavirus outbreak has significantly impacted not only various food & beverages industries but also all stages of the supply chain and value chain of various industries. It has affected the supply chain ecosystem, raw material suppliers, logistics partners, and several others. Therefore, the COVID-19 pandemic had a partial negative impact on the sugar alcohol industry. Moreover, demand for low-calorie healthy food products and nutraceuticals is anticipated to grow exponentially in the short term. Hence, gradual relaxation of restrictions on social distancing and free movement is anticipated to generate positive avenues for the market. Furthermore, the sugar alcohol market is expected to be optimistic for gradual recovery.

On the basis of type, the sorbitol segment accounted for 50.3% share in the global market in 2019. Sorbitol not only provides sweetening properties, but also texturing properties. It is an excellent humectant, softener, texturizing, and anti-crystallizing agent, hence has a wide range of applications across food & beverages, pharmaceuticals, and cosmetic industries. However, the mannitol segment is anticipated to grow at the highest CAGR during the forecast period. This is attributed to growth in applications of mannitol in the pharmaceuticals and nutraceuticals industry as a sweeting agent, tablet and capsule diluent, excipient for chewable tablets, a tonicity agent, and as a bulking agent for lyophilized preparations. 

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On the basis of form, the powder & crystal segment was dominant in 2019 with 61.4% share in the sugar alcohol market. Powder & crystal form of sugar alcohol provides a longer shelf-life and enables easy handling, transportation, and storage. Hence, it is widely used in manufacturing of several food products, including candies, chewing gums, and bakery goods. However, the liquid & syrup segment is anticipated to grow at a faster rate during the forecast period. Liquid & syrup form of sugar alcohols provide high-water solubility, hence has growing applications in pharmaceuticals & nutraceuticals products.  

On the basis of application, the food & beverages category was the dominant segment in 2019, with 40.2% global sugar alcohol market share. Sugar alcohols are mainly used to produce food and beverage products, owing to their sweetness and texturing properties. Recent technical advances have added to the range of sugar alcohols available for food use, hence expanded applications of these sugar replacers in diet and health-oriented foods. However, the pharmaceuticals segment is anticipated to grow at a faster rate during the sugar alcohol market forecast period.

On the basis of region, Europe was the prominent sugar alcohol market in 2019, with 38.9% of the market share. This was attributed to tremendous popularity and substantial consumption of low-calorie food & beverages in the region. However, Asia-Pacific is expected to witness a significant CAGR during the forecast period and contribute to the growth of sugar alcohol market size. 

Key findings of the study

• By type, the sorbitol segment was the highest contributor to the market, with $1,691.70 million in 2019, and is estimated to reach $2,350.4 million by 2027, at a CAGR of 5.50% during the forecast period.
• By form, the powder & crystal segment was the highest contributor to the market, with $2,063.7 million in 2019, and is estimated to reach $2,870.8 million by 2027, at a CAGR of 5.50% during the forecast period. 
• By application, the food & beverages segment was the highest contributor to the market, with $1,350.9 million in 2019, and is estimated to reach $1,855.2 million by 2027, at a CAGR of 5.40% during the forecast period. 
• In 2019, Europe region was the most prominent market however the Asia-Pacific region is expected to grow at a significant CAGR throughout the forecast period.

Royal Jelly Market Size, Share, Trends, Growth, Statistics, Report 2031

 According to a new report published by Allied Market Research, titled, “Royal Jelly Market," The royal jelly market size was valued at $1.4 billion in 2021, and is estimated to reach $2.1 billion by 2031, growing at a CAGR of 3.9% from 2022 to 2031. 

The hypopharyngeal gland of young worker bees (nurse) produces royal jelly to nurture young larvae and the adult queen bee. Fresh royal jelly is a homogeneous product with the consistency of a thin paste. It is light in color with yellow or brown tinges, has a strong phenolic odor, and has a characteristic spicy acidic-sweet flavor. The jelly is made up of around 57% to 70% water, 10% to 16% sugar, 13% to 15% protein, 2% to 3% minerals, and 3% to 6% fat, salts, and amino acids. The composition of fresh royal jelly differs according to the place and climate in which beekeeping is practiced.

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The players operating in the global royal jelly market have adopted various developmental strategies to expand their royal jelly market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Durham's Bee Farm, Glory Bee, Jiangshan Bee Enterprise, Nestlé S.A., Now Health Group, Inc., Nu-Health Products, Shamee Bee Farm Source Naturals, Inc, Y.S. Organic Bee Farms, and Yamada Bee Farm, Inc.

Royal jelly is generated by coaxing colonies to develop queen bees outside of their native environment (swarming or queen replacement). It is only feasible with mobile comb hives and requires relatively little expenditure. Expert individuals who can dedicate significantly more time than is typically required for the manufacturing of other honeybee products are required. Without this need, it is only feasible to gather the contents of natural swarm cells on rare occasions, and this equates to little more than two to three grams for each hive. During a 5-6 month season, a well-managed hive may produce roughly 500g of royal jelly. Due to the higher risk of the perishability of the royal jelly, manufacturers have rapid access to suitable cold storage, such as a domestic freezer for small quantities and an industrial freezer for large quantities, where the royal jelly is held until it is sold or delivered to a collecting facility.

In recent years, online shopping has arisen as a new sales channel. The globe has embraced the usage of internet purchasing platforms. The benefits of online shopping include convenience, time savings, and the ability to access several selections with a single click. According to the United Nations Conference on Trade and Development (UNCTAD), the e-commerce industry will rise by 34.4 percent in 2021, with online retail sales increasing by 34.4 percent over the previous year. The UK has the highest percentage of online retail sales, going from 17.0 percent in 2019 to 27.5 percent in 2021, according to the study. The rising share suggests that individuals are shifting toward online purchases, and internet shopping is becoming more popular. Because customers have easy access to their preferred items, the availability of internet connectivity and digital advertising of royal jelly products is increasing the sale of cosmetics and nutraceuticals created with royal jelly. The rise in online royal jelly purchases is boosting royal jelly market demand and the royal jelly market growth.

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 Key findings of the study

• According to the royal jelly market analysis, on the basis of application, the others segment is projected to witness the highest CAGR of 6.0%, in terms of revenue, during the royal jelly market forecast period.
• On the basis of type, the royal jelly extract segment is expected to dominate the market from 2022 to 2031.
• According to royal jelly market trends, on the basis of form, the gel segment is expected to grow at a significant CAGR during the forecast period.
• On the basis of the country in Asia-Pacific, Japan was the largest market for the royal jelly industry in 2021, in terms of revenue generation.
• On the basis of region, LAMEA is anticipated to witness the highest growth rate, registering a CAGR of 6.0% from 2022 to 2031.

Baking Mix and Enzymes Market Size, Supply and Demand with Size (Value and Volume) by 2025

 According to a new report published by Allied Market Research, titled, "Baking Mix and Enzymes Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025," 

The global baking mix and enzymes market size was valued at $3,384.0 million in 2018, and is projected to reach at $5,151.0 million by 2025, growing at a CAGR of 6.2% from 2018 to 2025. Baking Mix and Enzymes are the building blocks of finished bakery foods such as bread, cookies & biscuits, rolls & pies, cakes & pastries, and others. Increase in trend of healthy eating and rise preference for convenience food are the primary factors that boost the market growth. Prominent players and large corporates are developing their products to follow the consumer trends and foster the company growth to occupy notable stance in the global market.

The key players operating in the baking mix and enzymes industry include Archer-Daniels-Midland Company, Associated British Foods Plc., Cargill Incorporated, E. I. Du Pont De Nemours and Company, Ingredion Incorporated, Kerry Group, Plc., Koninklijke DSM N.V., Dawn Food Products, Inc., Bakels Group, and Lallemand Inc.

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Furthermore, cookies & biscuits, which are consumed as snacks are rapidly gaining popularity especially among the youth. Recurrent product innovations to enhance the taste, texture, and health benefits of the food item fuel the demand for cookies & biscuits. Manufacturers are focusing toward introduction of new flavors and innovative packaging to appealing consumers. Moreover, cookies & biscuits serve as a standard choice for gifting along with other confectionery items such as chocolates. In addition, low-calorie cookies & biscuits are gaining high popularity among health-conscious consumers, which fuel the baking mix and enzymes market growth.

Moreover, the increase in preference for on-the-go food products, which are readily available in the market has increased, due to changes in eating habits and busy lifestyle. For instance, availability of various instant premix powders in the market to make desserts at home easily without much efforts significantly contributes toward the growth of the market. 

In addition, cakes & pastries are mostly consumed as desserts among youngsters. Increase in disposable income and rise in urbanization are positively affecting the cakes & pastries market. Furthermore, in large cities, the working population mostly prefers on-the-go foods such as snacks, pastries, and cakes. In addition, cake pops, a new type of cake-based snack is gaining increasing popularity among the young population. They are bite-sized cakes that are available in a range of designs and are styled as lollipops. Hence, increase in trend of customizable pastries and cakes along with introduction of new toppings & flavors boost the cakes & pastries market, which is in turn is anticipated to fuel the growth of the global baking mix and enzymes market.

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Key Findings of the Baking Mix and Enzymes Market :

• Based on type, the baking mix segment was the highest contribution in the global baking mix and enzymes market in 2018.
• Based on type, the rolls and pies segment is expected to witness rapid growth in the baking mix and enzymes market.
• Based on application, the bread segment is estimated to grow at a steady CAGR of 6.3% from 2018 to 2025.
• By region, Europe accounted for about two-fifths of the global market share in 2018 and is expected to grow at a CAGR of 5.8% during the forecast period.

Food Service Equipment Market Size, Key Company Profiles, Types, Applications and Forecast to 2027

 According to a new report published by Allied Market Research, titled, “Food Service Equipment Market by Product Type and End Use: Opportunity Analysis and Industry Forecast, 2021–2027,”  The Food Service Equipment Market size was valued at $34,252.0 million in 2019, and is projected to reach $44,810.8 million by 2027, registering a CAGR of 5.7% from 2021 to 2027. Food service equipment provides the ease of food preparation, in addition to food safety in the commercial kitchens. Products such as refrigerators & freezers, display cabinets, cutlery, and bakery oven are offered by prime companies, ensuring premium quality and low maintenance cost. Moreover, these equipment are necessary for providing food & beverage services by commercial kitchens including restaurants, hotels, and quick service restaurants. This in turn has fueled the food service equipment market demand in terms of value sales.

Global Leaders:

The key players operating in the global food service equipment market focus on prominent strategies including product launch, collaboration, acquisition, business expansion and partnership to overcome competition and maintain as well as improve their share worldwide. Some of the major players in the global food service equipment industry analyzed in this report include Duke Manufacturing Co. Inc., Electrolux, Dover Corporation, Illinois Tool Works (ITW), Inc., Ali Group S.r.l. a Socio Unico, Welbilt, Inc., Middleby Corporation, Alto-Shaam, Inc., Comstock-Castle Stove Co., Inc., and Cambro Manufacturing Co. Inc.

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Key findings of the study

• By product type, the cooking equipment segment accounted for the highest food service equipment market share in 2019, growing at a CAGR of 5.3% from 2021 to 2027.
• By end use, the full-service restaurants and hotels segment occupied maximum share in the market in 2019 and is expected to dominate the market during the forecast period.
• Region wise, North America accounted for highest share in 2019 and is expected to grow at a CAGR of 4.0% during the forecast period.

Development of the hospitality industry is anticipated to drive the growth of the food service equipment market. Moreover, rise in business related travel, surge in urban population, and rise in number of food joints such as hotels and restaurants fuel the growth of the hospitality industry, thereby driving the growth of the food service equipment market. Change in food habits and busy lifestyle of consumers have led to increase in demand for ready-to-eat meals. Rapid changes in the supporting factors such as disposable income, consumer preferences, increase in working women population, and digitization have resulted into rise in number of quick-service, pop & shop, and other types of restaurants. 

Moreover, changes in trends of food consumption and growth in need to reduce food wastage have led to the development of innovative kitchen equipment. These factors are anticipated to drive the food service equipment market growth during the food service equipment forecast period.

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Furthermore, continuous developments in cooling technologies and favorable government regulations to promote the production of eco-friendly refrigerators & ovens are expected to open new avenues for food service equipment manufacturers. However, higher installation cost is anticipated restrain their adoption, particularly in developing regions. In addition, rise in demand for visually appealing food service equipment among restaurants and hotels fuels the growth of the food service equipment market. 

Additionally, new equipment featuring brighter colors, sleek designs, and shiny touch screens, are some of the food service equipment market trends. Another trend in food service equipment is multi-functional equipment. Due to space constraints, many restaurateurs tend to utilize equipment that could provide multiple functions and save kitchen space. 

Moreover, food service equipment like rapid cook ovens that feature several cooking methods for preparing variety of foods are in trend. For example, the double batch ventless impingement oven from TurboChef consists of two independently controlled high-speed ovens with oscillating racks, which reduces cooking time and facilitates the preparation of more food. Moreover, each oven can be controlled with a split-screen, Wi-Fi connected touch controller. Thus, making these IOT, multi-functional equipment popular in food service industry.

Furthermore, the demand for food service equipment such as automated cooking & beverage systems, touchless pick-up & delivery equipment, cloud-based IoT solution, and other equipment addressing the evolving foodservice environment is increasing significantly, which, in turn, is anticipated to drive the growth of the market.

The global food service equipment market segments are categorized into product type, end use, and region. By product type, it is classified into cooking equipment, storage & handling equipment, ware washing equipment, and serving equipment. By end use, it is divided into full-service restaurants and hotels, quick service restaurants, and catering. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Australia, Japan, and rest of Asia-Pacific), and LAMEA (Brazil, UAE, South Africa and Rest of LAMEA).

Pea Protein Market Size, Share, Trends, Growth, Statistics, Report 2025

According to a new report published by Allied Market Research, titled, Pea Protein Market by Type, Form, and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global pea protein market was valued at $32.09 million in 2017, and is projected to reach $176.03 million by 2025, registering a CAGR of 23.6% from 2018 to 2025. In 2017, the pea protein isolate segment accounted for more than half share of the global pea protein market in terms of value.

In terms of value, Asia-Pacific and LAMEA collectively contributed more than 30% share in the global market in 2017.

Global Top Leaders:

A&B Ingredients, Roquette Freres Le Romarin, Burcon Nutrascience Corporation, Cosucra Groupe Warcoing SA, Glanbia, Plc., The Green Labs LLC, GEMEF Industries, Axiom Foods, Inc., Puris and Yantai Shuangta Food Co., Ltd.

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Pea protein is extracted from green and yellow peas and is used in some protein supplements and protein-enriched foods. Pea protein contains all the essential amino acids required for healthy body function.

It helps in doing weight management, improving blood circulation and calcium absorption, maintaining healthy muscle, boosting metabolism, and regulating blood sugar. Pea protein is lactose-free and is safe for people with allergies or sensitivities to dairy and eggs. Thus, vegetarians and vegans prefer pea protein products to supplements with protein derived from dairy, such as casein, whey proteins, eggs, or meat.

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The use of pea protein as an alternative for other protein and non-protein ingredients in numerous applications, such as dietary and nutritional supplements, meat alternatives and extenders, snacks, beverages, and other bakery and confectionery goods by food industries, also drives the sales for the global pea protein market.

Other factors, such as rising living standards, increasing demand for healthy and nutritional products, growing economy, and soaring urbanization, are indirectly influencing the growth of the global pea protein market in a positive way.

However, low consumer awareness about the pea protein-based products and market penetration of animal protein and other plant-based proteins, such as soy, rice, wheat, and others, hampers the growth of this market to some extent. Formulation challenges in pea protein products is also a major factor hindering the growth of the pea protein.

Key Findings of the Pea Protein:

·         The pea protein isolate segment was the highest contributor to the market in 2017, and is projected to grow at a CAGR of 22.8%.

·         The dry based pea protein segment accounted for 72.14% and is expected to grow at the CAGR of 23.4% from 2018 to 2025.

·         The Asia-Pacific region accounted for 18.70% of the pea protein market share in the global pea protein market in 2017 and is projected to grow at a significant CAGR of 25.0%.

·         In 2017, China accounted for the highest pea protein market share accounting approximately for 23.1% in the Asia-Pacific region.

·         In 2017, the dietary supplement segment generated the highest market share and is expected to grow at significant CAGR of 24.2%.

·         The meat products & alternatives segment accounted for almost 12% share of the pea protein market in 2017.