“The nutraceutical ingredients market is projected to grow at a CAGR of 7.0%.”
The nutraceutical ingredients market is estimated to be valued at USD 162.1billion in 2020 and is projected to reach USD 227.5billion by 2025, at a CAGR of 7.0% from 2020 to 2025.The growth of the nutraceutical ingredients market is driven by factors such as growth in the demand for fortified food owing to the increasing health consciousness amongst consumers. Key drivers for the market’s growth include increasing incidences of chronic diseases worldwide and mandates on food fortification by government organizations.
“The probiotic segment for nutraceutical ingredients is estimated to account for the largest share in 2020.”
The nutraceutical ingredients markets, by type, is estimated to be dominated by the probiotic segment in 2020.Probiotic ingredients have witnessed positive effects on the overall human health and are becoming one of the essential ingredients for various health & nutritional applications. Owing to which there is a wide range of probiotic-based applications in the functional food, functional beverage, dietary supplement, and animal nutritional industries.
“The foodsegment for nutraceutical ingredients isestimated to account for the largest share in 2020”
The nutraceutical ingredients market, by application, is estimated to be dominated by the foodsegment in 2020. With the increasing awareness among consumers, the market for nutraceutical-based food is increasing as consumers prefer balanced diets and food that not only satisfies their hunger but also takes health into consideration. Therefore, the growth of the nutraceutical food market is widening its applications and creating growth opportunities for the nutraceutical ingredients market.
“The dry segment for nutraceutical ingredients is estimated to account for the largest share in 2020.”
The nutraceutical ingredients market, by form, is estimated to be dominated by the dry segment in 2020. A number of nutraceutical ingredients that are used in the dry form are vitamins, amino acids, prebiotic & probiotic premixes, proteins, and some minerals such as zinc and folic acid. These ingredients are extracted in dry form from several sources. For instance, vitamin C is extracted from acerola plant, protein powder, and fiber and amino acid from the hemp plant. As a result of the increasing demand for dietary supplements and functional foods in dry form, manufacturing companies are offering products in dry form; these are either available in the form of capsules or compressed into tablets.
“Asia Pacificis projected to witness significant growth in the nutraceutical ingredients market.”
Busy lifestyles have led to an increase in the consumption of convenience food products and the rapid economic growth of countries in the region, which has driven the demand for fortified nutritional food & beverage products in the region. The application of nutraceutical ingredients is projected to increase at a rapid rate in the region due to a surge in demand and the presence of a large consumer base for food, beverages, dietary supplements, personal care products, and feed.
The breakdown of primaries on the basis of company type, designation, and region is as follows:
- By Company Type: Tier I: 70%, Tier II: 20%, and Tier III: 10%
- By Designation: D Level: 50%, C Level: 10%,Manager Level: 40%
- By Region: North America: 20%, Europe: 30%, Asia Pacific: 30%, andRoW: 20%
The key nutraceutical ingredients manufacturing players include the following:
- Associated British Foods (Uk)
- Arla Foods (Denmark)
- DSM (Netherlands)
- Ingredion Incorporated (US)
- Tate & Lyle PLC (UK)
- Ajinomoto Co., Inc. (Japan)
- Tate & Lyle (Ireland)
- Chr. Hansen (Denmark)
- Kyowa Hakko Kirin Group (Japan)
- Glanbia plc (Ireland)
- Fonterra Co-operative Group Ltd. (New Zealand)
- Cargill (US)
- ADM (US)
- DuPont (US)
- BASF (Germany)
The key players in the nutraceutical ingredients market adopted expansions and product launchesas their key growth strategies to increase their market share and profits. Acquisitions accounted for the second most important growth strategy to be adopted by market players.
The report analyzes the nutraceutical ingredients market along with nutraceutical ingredients market across different types and regions. It aims at estimating the market size and future growth potential of this market across different segments such as h“Growing adoption of microphones in next-generation consumer electronics along-with increasing utilization of microphones in automotive applications to drive the microphone market.”
The global microphone market size is estimated to be USD 1.6 billion in 2020 and is projected to reach 2.3 billion by 2025, at a CAGR of 7.9% during the forecast period. The market has a promising growth potential due to several factors, including the high adoption of next-generation consumer electronics, increased number of microphones per device, escalated demand for modern microphones for use in smart wearable devices, and elevated use of piezoelectric microphones in IoT applications.
The COVID-19 outbreak generated both demand-side and supply-side shocks rumbling across the global economy. Leading China-based microphone manufacturers such as AAC Technologies and Goertek have incurred huge losses due to the pandemic. The strong actions such as imposing country-wide lockdown taken by governments globally to curb the spread of COVID-19 is expected to have a severe impact on the entire manufacturing industry. The supply chain of microphone is heavily dependent on OEMs and raw material supplier, which are unable to function due to lockdowns imposed worldwide. Also, as the demand for consumer electronics have experienced a decline in this pandemic situation, the demand of microphones is significantly impacted, thereby affecting the revenue of the key players in the microphone market.
“MEMS microphones: The fastest growing technology segment of the microphone market.”
MEMS microphones is estimated to be the fastest growing technology segment of the microphone market. The growth of this segment can be attributed to the huge application of MEMS microphones in IoT enabled consumer electronic devices, owning to its miniature design. The miniature design of the microphone helps in easy integration, making them ideal for use in various compact products such as wearables, wireless earphones, and hearing aids. Other benefits provided by these microphones include low power consumption, high sound-to-noise ratio (SNR), improved noise cancellation, high-performance density, long battery life due to low current consumption, small form factors, and superior temperature stability.
“Consumer electronics: The largest growing segment of microphone market, by application.”
Consumer electronics segment accounted for the largest market share of the microphone market, by application and is dominated by smartphone manufacturers. The demand for smartphones, tablets, wearable devices, and smart home equipment has been drastically increased with high disposable income and improved life. Moreover, in most instances, IoT and voice-activated connected devices has created new market growth opportunities for key players in the microphone market. Thus, the growing inclination toward the adoption of the IoT technology is leading to surging demand for audio sensors that can be used anywhere, which is contributing towards the growth of microphone market.
“APAC is projected to be the fastest geographical market between 2020 and 2025”
APAC is expected to grow at the highest CAGR between 2020 and 2025. The highest growth rate of APAC is attributed to the growing adoption of connected devices and increasing demand for wearable electronics during the forecast period. The rising number of users of smartphones and consumer devices due to high disposable incomes is likely to stimulate the microphone market growth in APAC. Also, infotainment systems with embedded MEMS microphones are deployed in many low and mid-end cars in APAC. Moreover, advancements in traditional devices to newly developed medical instruments have directly helped the MEMS microphone market to grow at a rapid rate. The current generation of different types of medical equipment, such as hearing aids and electronic stethoscopes, employ an increased number of microphones per device compared to traditional ones for better acoustical performance. All these trends have proven to be favorable for the microphone market growth in APAC.
Breakdown of profiles of primary participants:
- By Company: Tier 1 = 30%, Tier 2 = 50%, and Tier 3 = 20%
- By Designation: C-level Executives = 35%, Directors = 25%, and Others (sales, marketing, and product managers, as well as members of various organizations) = 40%
- By Region: Americas = 45%, Europe = 20%, and APAC = 35%
Major players profiled in this report:
The microphone market is dominated by a few globally established players such as Knowles (US), AAC Technologies (China), TDK (Japan), Goertek (China), and STMicroelectronics (Switzerland).
This research report segments the global microphone market based on MEMS Type (Analog and Digital), Communication Technology (Wired and Wireless), Technology (MEMS, Electret, and Others), Application (Automotive, Commercial Security & Surveillance, Consumer Electronics, Industrial, Medical, and Noise Monitoring & Sensing), and Geography (Americas, Europe, APAC, and RoW).
The report also provides a comprehensive review of market drivers, restraints, challenges, and opportunities pertaining to the microphone market and also includes value chain. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall microphone market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
ealth benefits (cognitive health, gut health, heart health, bone health, immunity, nutrition, weight management, and others);type (probiotic, proteins and amino acids, phytochemical & plant extracts, fibers & specialty carbohydrates, omega 3 fatty acids, vitamins, prebiotic, carotenoids, minerals, and others); application (food, beverages, personal care, animal nutrition and dietary supplement);form (dry and liquid) and region. The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Reasons To buy this report:
- To get a comprehensive overview of the global nutraceutical ingredients market
- To gain wide-ranging information about top players, their product portfolios, and key strategies adopted by them
- To gain insights onmajor countries/regions in which the nutraceutical ingredients market is flourishing