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From Ocean to Table: Navigating the Seafood Market

The global canned seafood market is projected to have a moderate-paced CAGR of 3.7% during the forecast period. The current valuation of the canned seafood market is US$ 33.6 billion in 2023. The value of the canned seafood market is anticipated to reach a high of US$ 48.2 billion, by the year 2033.

Demand for specialised and distinctive culinary products rises as consumer purchasing power increases. Business opportunities have increased thanks to the utilisation of numerous seafood types in American restaurants and hotels. Because of the growing acceptance of plant-based fish, it is anticipated that the market for canned seafood would grow.

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The ease, prolonged shelf life, and nutritional advantages of canned seafood products are driving the market for canned seafood to expand rapidly. The industry is still growing as a result of rising consumer desire for ready-to-eat and portable options as well as rising knowledge of seafood’s health advantages.

For instance, a Bloomberg Intelligence analysis projects stated that the market for canned fish made from plants would increase from US$ 30 billion in 2020 to US$ 162 billion in 2030.

Because of the increased demand for seafood alternatives, scientists and marketers are producing nutritious, plant-based fish that tastes authentic. In December 2021, for example, the canned fish maker Karavela introduced a line of canned seafood made from yellow peas.

Both small businesses and established businesses are exhibiting interest in fish made from plants. An alternative to tuna derived from soy, yeast, and sunflower extract was introduced by Atlantic Natural Foods. Additionally, Good Catch secured US$ 32 million in funding in January 2020 for their plant-based seafood, while another company, Impossible Foods, said in 2019 that it is working on plant-based fish.

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Key Takeaways:

Over the forecast period, the United Kingdom is anticipated to occupy a significant portion of the global canned seafood market. By purchasing fish solely during its season, British businesses are setting the standard for canning mackerel, tuna, sardines, anchovies, and salmon. Additionally, they obtain it mostly from the world’s most eco-friendly fisheries.
Competitive Landscape:

The global canned seafood market is divided as a result of the presence of both international and local competitors. Significant market share is held by several corporations in their specialized industries. Leading firms frequently value organic developments, such as product approvals and the rise in demand for foods derived from animals, fats and oils, refined grains, and fruits and vegetables. The canned seafood market throughout the world is predicted to grow significantly as a result of these causes.

Key Players:

Nueva Pescanova
Marine Harvest ASA
Thai Union Frozen Products
Royal Greenlands
StarKist Co.
Nippon Suisan Kaisha Ltd.
Maruha Nichiro Corporation
Recent Developments:

In May 2019, Rio de Oro, a Moroccan manufacturer of frozen fish, introduced a line of canned fish with a focus on the European market.
In August 2020, Golden Gate Capital and Thai Union Group PCL had agreed to sell each other the remaining stock interest in Red Lobster Seafood Co. Orlando is likely to continue to house Red Lobster’s headquarters.
Key Segments

By Product Type:

Caviar
Mackerel
Salmon
Sardines
Tuna
Others
By Sales Channel:

Hypermarkets/Supermarkets
Convenience Stores
Independent Grocery Stores
Specialty Stores
Online Retail

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Plant-Powered Palates: Unveiling Vegan Butter's Delight

The global vegan butter market is forecasted to expand at 5% CAGR over the estimated period as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 4,784.7 million in 2033

The B2C sales channel has revealed an increase in demand for vegan butter made from oats, which is driving the vegan butter market ahead. The high demand for vegan butter made from oats can be traced to the success of related goods like oat milk.

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Within the bakery industry, vegan butter is being perceptibly used at a large scale now. This evolution in the ingredient choice has been dictated by the surging health-wary consumers, who are seeking bakery items made of vegan butter.

Flavored vegan butter has also been gaining widespread traction, as evident with the increasing number of merchants introducing their line of flavored plant-based butter. Manufacturers require to focus on technological upgrades over the forecast period to:

Enhance manufacturing processes
Sales monitoring
Top Highlights from the FMI’s Analysis of the Vegan Butter Market:

The United States vegan butter industry garnered a 22.4% market share in 2022.
Germany’s share in the global vegan butter industry was 6% in 2022.
The United Kingdom is anticipated to expand from 2023 to 2033 with a CAGR of 5.5%.
Japan’s market contributed a value share of 2.9% in 2022.
Innovation Watch: New Developments in the Market

In September 2019, Country Crock® made moves along with the plant-based food movement by introducing Country Crock® Plant Butter, a new dairy-free plant butter, that is similar in taste to dairy butter. The product is made of plant-based oils and enriched with oils like almonds, avocados, and olives. The product is certified by Plant Based Foods Association (PBFA) as kosher, gluten-free, and plant-based, making it appropriate for vegan diets.
Key Players Operating in the Market

Wayfare Food
Chobani LLC
Miyoko’s Creamery
Milkadamia
Prosperity Organic Foods, Inc
Conagra Brands Inc.
Vegan Butter Market by Category

By Source:

Rice Milk
Oat Milk
Soy Milk
Corn Milk
Almond Milk
Pea Milk
Cashew Milk
Coconut Milk
Hemp Milk
Flax Milk
Others

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Crunching on Change: Insect Protein's Revolutionary Impact

From 2023 to 2033, the insect protein market is projected to accelerate at a CAGR of 17.7% from its 2023 value of US$ 602.3 million. By 2033, there is going to be US$ 3.1 billion global market.

Due to growing consumer knowledge of the benefits of consuming nutrient-dense foods and growing consumer preference for a healthy lifestyle, it is predicted that demand for insect protein will rise throughout the forecasted period.

Thriving Applications and High Protein Content in Insects Insect Protein Need is Increasing

Due to global consumers’ growing health concern, there is a greater demand for nutritious food products. As a result, producers in many other industries now have the chance to market such food products.

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Today’s consumers value natural products and are concerned about the ingredients in their food as well as how it is made and where it originates from. Increasing spending on functional food items, an increase in the number of athletes and gym goers, and consumers looking for wholesome and environmentally friendly food options are some of the primary drivers anticipated to spur the insect protein market’s growth throughout the course of the projected year.


Regional Outlook

A growing demand for human consumption products could lead to rapid growth in Europe.

The European continent provided the majority of the income. In the European insect protein market, consumer acceptance of insect protein is higher for applications in the food and beverage industry, animal nutrition, and personal care.

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Key Takeaways

With a CAGR of 20.6% and an expected market size of US$ 1.1 billion in 2033, the insect protein market in the United States is expected to grow rapidly over the projected period.
With a strong CAGR of 11.9% and an expected market size of US$ 129 million in 2033, the Chinese market is expected to grow throughout the course of the estimated period.
In 2033, it is expected that the Japan market would generate US$ 61.7 million and grow at a 9.5% CAGR.
Competitive Landscape

With numerous large- and small-scale manufacturers present, the market is competitive and concentrated. The leading market participants include Aspire Food Group Protifarm, EntomoFarms, Chapul Cricket Protein, Jimini’s, Swarm Nutrition GmbH, EnviroFlight LLC, AgriProtein Holdings Ltd. nsect, Hexafly, Innovafeed, and Protix. To meet the demand on a global scale, these major firms are concentrating on increasing their manufacturing capacity.


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Key Segments

Insect Type:

Beetles
Caterpillars
Bees, Wasps, and Ants
Grasshoppers, Locusts, and Crickets
Others
Form:

Whole Insect
Powder
Application:

Food & Beverages
Animal Nutrition
Aquafeed
Pet Food
Poultry Feed
Pharmaceuticals & Cosmetics

Sweeten Your Wellness Routine: The Ultimate Vitamin Gummies Guide

According to FMI, the vitamin gummies Market is likely to generate US$ 4050 million by 2023. A CAGR of 6.5% is forecast for the market between 2023 and 2033, indicating a US$ 7352.3 million market. As multivitamin gummy provides critical support for all-around health and well-being demand for these gummies is expected to grow in demand. As convenient and enjoyable forms of vitamin and mineral intake, they contribute to optimal body function by filling nutrient gaps.

These kinds of gummies are very useful for those who adhere to strict diets, have trouble eating, or are extremely busy. Thus, they guarantee that the necessary nutrients are consumed, supporting vitality and healthy body function. Vitamin gummies are the subject of research to boost their demand. The demand for vitamin gummies is rising as more money is being invested in this study. Supplements are what are driving the desire for healthy and balanced diet options.

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Key Takeaways from the Market Study

The global market for vitamin gummies is expected to reach US$ 6903 million by 2032.
Globally, the United States accounted for 24.7% of the vitamin gummies market share in 2022.
The market for vitamin gummies is expected to rise by 6.3% CAGR between 2022 and 2032.
China accounted for an 11.2% CAGR in 2022, indicating continued growth in the market.
nd attractive packaging. Natural products and premium pricing are expected to drive vitamin gummies’ growth in the market.” says an FMI analyst.
Top Players in the Vitamin Gummies Market:

BAYER AG
Pharmavite
SmartyPants Vitamins
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Competitive Landscape

The business of vitamin gummies is growing as many companies form strategic partnerships and collaborate with other businesses. There is a growing trend among vitamin gummies market players to invest heavily in research and development, to develop new products, to expand their geographic presence, as well as to establish partnerships in order to grow their customer base.

On March 2023, SmartyPants Vitamins announced the launch of its most innovative multivitamin to date—SmartyPants Sugar-Free Multi & Omegas. The Sugar-Free Multi & Omegas from SmartyPants don’t contain sugar alcohols like other sugar-free gummies. In addition to having zero grams of sugar and zero grams of net carbohydrates, this new all-in-one supplement is sweetened using monk fruit extract and allulose to avoid digestive upset.

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Vitamin Gummies Market Segmentation

By Product Type:

Single Vitamin Gummy
Biotin
Omega & DHA
Vitamin C
CoQ10
Vitamin D
Melatonin
High Fibre Formulas
Multivitamin Gummy
Probiotic Vitamin Gummy
Bacillus Coagulans
Lactobacillus
Bacillus Subtilis
Others (Yeast Etc.)
By Customer Orientation:

Children
Adult
Men
Women

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