North America Probiotics Food and Cosmetics Market is expected to record a positive CAGR of 10% and cross US$ 20 Bn by 2027: Ken Research

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Probiotics are live microorganisms that are known for providing several health benefits when taken in adequate amounts or applied externally to the body. Probiotics are already present in the body and help it to work in the most efficient way. They can be found in various speciality food products such as dietary supplements, yoghurt, and other fermented foods. It can also be infused in beauty products so as to apply to the skin.

The North America Probiotics Food and Cosmetics Market are expected to record a positive CAGR of 10% during the forecast period (2022-2027) and cross US$ 20 Bn by 2027, due to the rising demand for probiotics products, notably in food and beverages.

• Multiple benefits to the body and skin with the use of probiotics products and rising demand for nutritional food as compared to other medicated products are major growth drivers for the North American Probiotics Food and Cosmetics market. For instance, according to a 2020 Food & Health Survey by the International Food Information Council, 54% of all consumers, and 63% of those aged over 50 in the U.S., are inclined more toward the healthfulness of their food and beverage options in 2020 than they did in 2010.
• In addition, the high potential demonstrated by probiotics for the treatment or prevention of various diseases such as cardiovascular diseases, cancers, neurodegenerative disorders, and inflammatory diseases is increasing its demand in people of different age groups for preventive healthcare functions.
• Multiple global brands in the functional food and beverage sector have launched innovative probiotic-fortified products in the market helping the growth. For instance, Farmi Piimatoostus Ltd. launched fermented buttermilk and a number of packaged snacks with probiotics.
• Strong customer buying power and the presence of producers of immunity-boosting food products in the North American region act as an opportunity for the market to grow in the near future.
• According to a 2022 survey conducted by a key supplier of probiotics, Chr. Hansen, Nearly 48% of people in North America consume probiotics almost daily either in foods or supplements. As per the data from the U.S. Department of Agriculture Economic Research Service, in the year 2021, the per capita consumption of yoghurts in the U.S. was 14.9 pounds.
• However, the high cost of the research and development process for the manufacturing of probiotics and the overall higher cost of probiotics supplements as compared to other dietary supplements acts as a major challenge to this market growth.

The COVID-19 crisis has brought diverse opportunities in the Probiotics Food and Cosmetic market as it offered numerous benefits that helped people fight the virus in the easiest way. Probiotics were used as supplements that proved to be an effective method for combating the virus. The COVID-19 pandemic has been largely acting as a catalyst for probiotic product demand in the U.S. The global pandemic escalated the demand for immunity-boosting food products and supplements among people of every age group. In recent months, the use of probiotics is increasing gradually which can also be noticed in some of the major players in the market. On whole, the COVID-19 pandemic has benefited the probiotics industry, particularly in 2020, by intensifying the trend towards immunity-boosting food products and supplements.

Key Trends by Market Segment

By Product Type: Probiotics Food and Beverages segment holds the largest share of the North American Probiotics Food and Cosmetics market in terms of product type.

• Probiotics Food and Beverages segment is likely to retain its dominant share in the market by 2027.
• The increasing awareness regarding diabetes, the immune system, and various other health problems among U.S. people had increased the demand for probiotics foods.
• The surge in the number of health-conscious adults in developed countries impacted the demand for probiotics-infused food and beverages.

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By Ingredients: Bacteria segment accounts for the majority of the share in the North America Probiotics Food and Cosmetics Market, as most of the probiotic food and beverage and dietary supplement products are made of bacterial strains, most notably employing lactobacillus or lactic acid bacteria. All the manufacturers are developing their products using bacterial strains, a few products are available in the market having yeast strains.

• In August 2021, BLIS Technologies expanded its portfolio with the launch of a new brand that contains probiotic strains specific to the skin. The company claims its new product to be the only one that utilizes a live strain of bacteria.
• Continuous R&D activities are carried out on different types of strains that can be used as probiotics. For instance, BLIS Technologies has net sales of around USD 5 Mn, out of which the company is investing approximately 20% of the overall sales in its research and development activities on bacteria strains.
• In October 2021, Biomillenia and Probiotic Group Luxembourg (PBGL) signed an R&D collaboration agreement aimed at the isolation and characterization of novel strains to be used as next-generation active ingredients for future products.
• In September 2021, Navipharm developed duo-strain probiotics that target health conditions such as allergic rhinitis, improvement of anxiety and sleep, liver protection, and many female health conditions. The company launched its products built under its in-house Duobiome technology under the brand, Bicrome.

By Function: Preventive Healthcare segment holds the largest market share in the North American Probiotics Food and Cosmetics Market as people are consuming probiotics as supplements for the prevention of any health concerns.

• Demand for probiotics for preventive healthcare is increasing due to growth in health issues that encourages market players to invest in R&D and launch new &innovative probiotics products.
• High in demand in developed countries as they prevent the occurrence of diseases by strengthening the immune system.
• Growing understanding of the need for preventive health, as well as a slew of research indicating advantages in areas like immunity, cognition, and skin care, the market has seen tremendous development.
• According to a survey by Natural Marketing Institute in May 2020, the number of probiotic users in the United States climbed by 66% as it helped in treating several health problems and helped in preventing certain critical health issues.

By Distribution Channel: Hypermarkets/Supermarkets segment holds the largest market share in the North America Probiotics Food and Cosmetics Market as it is the most popular channel for the purchase of protein-based supplement products due to the convenience of shopping and the availability of multiple brands.

• Supermarkets provide an opportunity for customers to talk to knowledgeable sales staff and choose from a variety of supplements available in the store.
• The U.S. has a total of 63,348 supermarkets selling various types of supplements to customers. The number of stores is continuously growing in the country.
• In the U.S., retailers offer in-store seminars to educate customers on the benefits of probiotics. This practice attracts people of different age groups to try the product after having learned its benefits for health.

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By Geography: U.S. accounts for the largest share of the market among all countries within the total North America Probiotics Food and Cosmetics Market.

• The U.S. is the major production hub for probiotics. Many key players in the market have developed their manufacturing plants in California.
• For Instance, in 2020, Dupont built its manufacturing facility for the production of probiotics in California, U.S. The plant is located in Fountain Valley, California and the company produces high-quality probiotics for the dietary supplement and food and beverage industries in it.
• Florida has a maximum number of supplement stores in the country that sells probiotics products. It is the highest sales-generating state in the U.S. for probiotics.
• In Canada, Alberta has one of the top 5 most integrated health systems in the world and is also the production hub for probiotics. The University of Alberta develops high-quality probiotic strains to be used in products in improving the health of animals.

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Competitive Landscape

• The North America Probiotics Food and Cosmetics market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players having their own niche in the food & beverages and cosmetics industries. Most of the country-niche players are probiotics strains suppliers.
• Large global players control nearly half of the market, while regional players hold the second largest share. Some of the major players in the market include Kerry Group plc, Yakult Honsha Co., Ltd, Probi, BioGaia AB, Nestlé, BLIS Technologies, Procter & Gamble, DuPont, ADM, H&H Group, Estée Lauder Inc, Esse Skincare, among others.
• The leading global specialist companies such as Yakult Honsha Co., Ltd, BLIS Technologies, Estée Lauder Inc, and Esse Skincare are highly focused on providing a significant number of probiotics food and cosmetics products that can be used across multiple industries, including food and beverages, cosmetics, pharmaceuticals, animal feed and more.

Recent Developments Related to Major Players

• In February 2022, Kerry Group reached an agreement to acquire a leading biotechnology innovation company, c-Lecta. The acquisition will act as an opportunity and help the company in the expansion of its technology portfolio and manufacturing capabilities of bio-processing and bio-transformation of enzymes.
• In February 2022, Nestlé announced the acquisition of core brands of The Bountiful Company, including Osteo Bi-Flex®, Nature’s Bounty®, Puritan’s Pride®, Solgar®, Ester-C®, and Sundown®. The acquisition established the company as the industry leader in herbals, vitamins, minerals and supplements.
• In January 2022, BioGaia AB acquired 100% shares of Nutraceutics Corporation through its US subsidiary, BioGaia Biologics Inc. The acquisition helped the company to extend its nutraceuticals product portfolio by merging the acquired company’s technologies and products.
• In August 2021, Yakult Honsha Co., Ltd established the Haikou Branch in Haikou, Hainan Province, China and started selling Yakult and Yakult Light fermented milk drinks at supermarkets and other retail stores.
• In July 2021, Probi acquired BLIS Technologies, a New Zealand-based probiotic company with an investment of USD 6.36 Mn. With this investment, Probi owned 13% of the company’s shares. This strategic partnership will help the company to grow its business in New Zealand, Australia, North America, and North America.
• In April 2021, Kerry Group plc acquired a leading supplier of Ayurvedic botanical ingredients, Natreon, Inc. The acquired company is in the business of supplying scientifically tested Ayurvedic extracts to the functional food and beverage industry globally. The acquisition helped the company in technological growth and significantly expanded the company’s leadership position.

Conclusion

The North America Probiotics Food and Cosmetics Market is estimated to continue an exponential growth that is witnessed since 2017, during the forecast period is also, primarily driven by rising demand for immunity-boosting food products and supplements among people of every age group. Though the market is highly competitive with over 150 participants, few global players control the dominant share and regional players also hold a significant share.

Ken Research has published a report title North America Probiotics Food and Cosmetics Market Size, Segments, Outlook and Revenue Forecast 2022-2027 that is segmented by Product Type, Ingredients, Function, and Distribution Channel. In addition, the report also covers market size and forecasts for the region's three major countries' probiotics food and cosmetics markets. The revenue used to size and forecast the market for each segment is USD billion.

Market Taxonomy

By Product Type

Probiotics Food & Beverages

Dietary Supplements

Cosmetics

By Ingredients

Bacteria

Yeast

By Function

Regular

Preventive Healthcare

Therapeutic

By Distribution Channel

Hypermarkets/ Supermarkets

Pharmacies/ Drugstores

Specialty stores

Online

By Geography

U.S.

Canada

Mexico

Rest of North America

Covid-19 Had A Positive Influence On the Sector, As The Volume of Orders and Income of US E-Commerce Logistics Businesses Surged Dramatically

 

1. Market size of USA e-commerce logistics market showed before and after covid

Increase in the number of orders and revenue of e-commerce logistics can be observed from 2019 to 2021. From groceries, gadgets, furniture to personal care products and clothing, individuals are increasingly turning to e-commerce websites instead of visiting physical stores. Consumer desire to purchase goods online has been driven by the ability to compare prices and product availability online. Rise in cross-border e-commerce and growth in Internet users are driving the USA E-Commerce Logistics Market. The high growth of same-day and next-day delivery, wherein airways are the optimal choice of transport, rise in real estate prices (warehousing space) and rising fuel prices(transportation) are some of the factors contributing to increase in average shipment cost over years.

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2. There are four types of e-commerce logistic model operating, namely: owned and fully dedicated air transport, air freight shippers, hybrid model and air parcel shippers.

Due to impact of online retail on business, sellers have started designing products and services dedicated to this segment, transforming and adapting to the different e-commerce logistics model. Success of e-commerce industry relies on convenience in shopping, variety of products, accessibility of global brands, round the clock service, easy payment options, and convenient delivery timings which has over-shadowed the traditional and conventional business style.

North America Healthcare E-Commerce Market is expected to record a positive CAGR of ~15%: Ken Research

 According to Ken Research Analysis, the North America Healthcare E-Commerce Market is expected to record a positive CAGR of ~15% during the forecast period (2022-2027), due to an increase in technological advancement in healthcare e-commerce coupled with an increase in internet penetration in the healthcare sector. The ongoing Covid-19 pandemic has benefited the healthcare e-commerce industry, notably in 2020, as due to an impromptu lockdown the traditional supply chain of the healthcare industry got disrupted and led to the transformation of the supply chain by implementing digitalization.

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• The shortage in medical staff has given rise to automation in the healthcare industry to provide improved patient care, which is expected to propel the market's growth. In 2021, according to Bloomberg, 16% of the hospitals had critical staffing shortages in the U.S.
• The demand for e-commerce is rising in the healthcare industry to boost efficiency and lower the cost of healthcare expenses by using the latest technologies. For instance, in 2020, according to Entrepreneur Media, Inc., the adoption of telehealth services in the U.S. grew by 33%. In addition, as per the study of a cardiovascular patient, telehealth options helped in reducing the monthly healthcare cost by US$ 576, and in Houston, the telehealth program reduced the emergency visits by 6.7% resulting in saving US$ 2,468 for the healthcare system for each unnecessary visit.
• Emergence of advanced technologies including artificial intelligence, blockchain technology, machine learning, sensor-based technology, and others is likely to create immense opportunities for the growth of the e-commerce healthcare market in the forthcoming years. For instance, In July 2020, Deutsche Post AG announced to invest more than US$ 70 million to build additional specialized warehousing infrastructure and adopt new technologies to support its pharmaceutical and medical device customers in North America.
• The stringent regulations laid by the governmental body on data security and compliance complications with regulatory bodies are the most significant barrier to the healthcare e-commerce industry.

Key Trends by Market Segment:

By Type:  Drugs hold the largest share of the North America healthcare e-commerce market owing to the rising prevalence of chronic diseases such as arthritis, cancer, heart diseases, and others which has led to the increasing demand for drugs in the market. In addition, COVID-19 has drastically changed the purchasing pattern of the end-users and increased the dependence on online services for drugs and this trend is likely to continue even in the forecasted period owing to its convenience.

• According to the Centers for Disease Control and Prevention (CDC), 51.8% of U.S. adults were suffering from chronic diseases and 27.2% of U.S. adults had multiple chronic diseases in 2018. In 2022, 6 in 10 U.S. adults have a chronic disease and 4 in 10 U.S. adults have two or more chronic diseases.

By Application: Medical consultation segment accounts for the majority share of the North America Healthcare E-commerce market due to the rising demand for electronic health services, medical devices, and drug requirements among consumers as well as health practitioners. Digitalization in the healthcare sector has provided easy access to patients for purchasing medical devices and drugs after online virtual consultations with healthcare providers.

• In March 2022, Walgreens Boots Alliance, Inc. partnered with Adobe to accelerate customer personalized experience The partnership aims to use Adobe Workfront to make the shopping and healthcare experience more personalized and engaging for consumers and to deliver new digital experiences and content to the expanding online audience.

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By End-Users: The others segment holds the largest market share in the North America healthcare e-commerce market due to the adoption of e-commerce platforms for healthcare products as it offers the home delivery option, same-day delivery, ease of drug or medical device availability, and lower prices. In addition, manufacturers are offering a wide range of products on their e-commerce platform for consumer convenience which will aid in the growth of the segment in the market.

• In June 2021, Amazon.com, Inc. offered a new service on Amazon Pharmacy for their Prime members to save money by providing six months of prescribed medication for US$ 6. The new option is available for Amazon Prime customers who wish to purchase medication without insurance and helps them save money.

By Geography: USA accounts for the largest share of the total North America healthcare e-commerce market due to the presence of a large number of key players in the region coupled with an increase in the number of strategic developments by the players to expand its market in North America.

• In February 2022, Deutsche Post AG planned to invest US$ 400 million into its operational site including Memphis, Tennessee. The aim is to grow its pharmaceutical and medical device network in the U.S.
• Walgreens Boots Alliance, Inc. announced a multi-year strategic partnership with Verizon, where Verizon Network as a Service (NaaS) will be deployed to deliver an enhanced customer experience to U.S. consumers. The partnership aimed to enhance its digital platform to make a personalized shopping experience for healthcare products for the customers.

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Competitive Landscape

The Healthcare E-Commerce market is highly competitive with ~250 players which include globally diversified players, regional players as well as a large number of country-niche players having their own niche in healthcare e-commerce.

Large global players represent about 10% of the market, while country-niche players represent the largest number of competitors. Some of the major players in the market include CVS Health, The Kroger Co., Walgreens Boots Alliance, Inc., General Electric, eBay Inc., Walmart Inc., Amazon.com, Inc., Alibaba Group Holding Limited, Siemens Healthineers AG, ExactCare and Remedi SeniorCare among others.

The leading global healthcare e-commerce companies such as Amazon.com, Inc., Walgreens Boots Alliance, Inc., and General Electric are highly focused on providing a significant number of healthcare products including medical devices and drugs on their online platform/pharmacies.

Recent Developments Related to Major Players

• In February 2022, CVS Health planned to spend up to US$ 3 Billion on digital features to enhance and improve the consumer experience on their pharmacy site. The company aims to connect consumers in more places and in more ways with its digital-first technology forward approach and planned to offer an enhanced omnichannel health experience.
• In July 2020, The Kroger Co. received emergency use authorization from FDA for its COVID-19 Test Home Collection Kit. The testing solution offers the safety and convenience of at-home sample collection with the help of expert guidance of a telehealth consultation. In addition, the company also partnered with Gravity Diagnostics to expand the availability of collection kits with the goal of processing up to 60,000 tests per week.

Conclusion

The North America Healthcare E-Commerce Market Size, Segments, Outlook and Revenue Forecast 2022-2027 is forecasted to continue an exponential growth that is witnessed since 2020, during the forecast period also, primarily driven by rising demand for healthcare products and services at the convenience of the home and an increase in investment in the healthcare e-commerce industry for enhancing the digital experience of the end-users is escalating the growth of the market. Though the market is highly competitive with over 250 participants, few global players control the dominant share and regional players also hold a significant share.

Market Taxonomy

By Product Type     

• Drugs
• Medical Devices

By Application        

• Telemedicine
• Caregiving Services
• Medical Consultation
• Non-Prescribed Drugs

By End-Users         

• Hospitals
• Clinics
• Pharmacies
• Medical Supply & Equipment Stores
• Individual Buyers

By Geography        

• USA
• Canada
• Mexico
• Rest of North America

Global Energy Drinks Market is expected to record a positive CAGR of 8% and is expected to reach nearly US$ 80 billion by 2028: Ken Research

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Energy drinks are beverages that contain a high level of stimulant ingredients like caffeine, ginseng, guarana, taurine, and others as well as sugar, vitamins or carnitine, and others. These products are promoted to boost energy levels and enhance physical performance and mental alertness. Energy drinks are widely popular as dietary supplements and consumed by teens, adults, and even the geriatric population.

According to Ken Research Analysis, the Global Energy Drinks Market is expected to record a positive CAGR of ~8% during the forecast period (2022-2028) and is expected to reach nearly US$ 80 billion by 2028, owing to the growing demand for potential energy booster products like energy drinks which also improves physical and cognitive performance.

Adoption of a healthy lifestyle and growing demand for energy drinks for mental alertness are some of the factors driving the market growth.

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• The increase in health-conscious consumers coupled with lifestyle changes, eating and drinking patterns, and taste preferences are anticipated to augment the growth of the Global Energy Drinks Market.
• The surge in demand for a variety of flavour energy drinks that are sugar-free and calorie-free and increasing efforts of manufacturers to introduce new energy drinks in the market to fulfil the demand for consumers is likely to boost the growth of the market.
• The Global Energy Drinks Market faces challenges due to stringent regulations laid by governmental bodies on energy drinks.
• Governmental bodies such as The Food Safety and Standards Authority of India (FSSAI) and others laid strict regulations on energy drink products and regulated the amount of caffeine and others in the product, which may hamper the growth of the Global Energy Drinks Market.
• The COVID-19 pandemic positively impacted the Energy Drinks Market owing to the increased demand for functional beverages, and healthy drinks that boost energy levels. Moreover, consumers are still engaged in various exercise regimes in their homes, which leads to the continued need for energy drinks products. In addition, the increased consumption of energy drinks and increased sales of the products through online channels has benefitted the growth of the Global Energy Drinks Market.

Key Trends by Market Segment:

By Type:  Non-alcoholic segment held the largest share of the Global Energy Drinks Market in 2021, owing to the surging demand for functional drinks that boost energy and offer other benefits such as improved physical endurance, and others.

• The rising disposable income, changes in lifestyle, and high intake of non-alcoholic drinks are expected to fuel the demand for the segment in Global Energy Drinks Market.

By Product Type: Drinks segment accounted for the largest share of the Global Energy Drinks Market by product type in 2021, due to the growing demand for on-the-go drinks that boost energy levels and provides other health benefits.

• The increasing popularity of energy drinks among consumers as potential energy boosters and functional drinks that enhance physical and cognitive performance is anticipated to augment the growth of the segment in the market.

By Packaging Type: The cans segment accounted for the largest share of the Global Energy Drinks Market in 2021, owing to the growing demand for convenient and ready-to-drink beverages among consumers.

• The increasing preference for energy drinks in cans, especially metal cans, as they can be easily transported and are not easily breakable is likely to boost the demand for the segment in the Global Energy Drinks Market.

By Flavor: Flavored segment accounted for the largest share of the Global Energy Drinks Market in 2021, due to the availability of a variety of flavors like orange, apple, grape, lemon, and others in energy drinks.

• The growing demand for energy-boosting drinks in a variety of flavors among consumers is encouraging manufacturers to launch flavoured energy drinks is anticipated to propel the growth of the segment in the market.

By End-User: Adults segment accounted for the largest share of the Global Energy Drinks Market in 2021, due to the growing popularity of functional drinks like energy drinks among adults.

• The increasing involvement of adults in sports activities along with surging demand for energy drinks for mental alertness is likely to boost the demand for the segment in the Global Energy Drinks Market.

By Distribution Channel: Supermarkets/hypermarkets segment accounted for the largest share of the Global Energy Drinks Market in 2021, due to the high customer reach of these stores.

• The availability of a wide range of energy drinks of different brands in supermarkets or hypermarkets coupled with increasing demand for healthier options and energy-boosting drinks among consumers are anticipated to propel the growth of the segment in the market.

By Geography: North America region accounted for the largest share of the Global Energy Drinks Market in 2021, owing to the growing consumption of energy drinks in the region.

• The increasing popularity of energy drinks among teens and young adults along with rising marketing and promotional activities for energy drinks in the region is expected to augment the growth of the region.

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Competitive Landscape

The Energy Drinks Market is highly competitive with ~150 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in Energy Drinks.

Regional players comprise ~60% of the total number of competitors, while the country-niche players comprise the second highest of the total number of competitors. Some of the major players in the market include Lucozade Ribena Suntory Limited, Otsuka Pharmaceutical Co., Ltd., AriZona Beverages USA, National Beverage Corp., Red Bull, Monster Energy Company, PepsiCo, Coca-Cola, Amway Corp., NOS Energy Company among others.

The leading global energy drinks companies such as NOS Energy Company, Red Bull, Monster Energy Company, and PepsiCo are highly focused on strategic product launches and are highly involved in promoting their products to hold their position in the market.

Recent Developments Related to Major Players

• In February 2022, Red Bull launched the new Red Edition, with a watermelon taste in India. The new product is a perfect on-the-go drink and is available in retail stores like Reliance Retail, More, Spencer’s, Ratnadeep, and others as well as on online platforms such as Flipkart, Amazon, Swiggy Instamart, and others. The company aimed to expand its product portfolio and fulfill the demand of Indian consumers.
• In February 2022, PepsiCo launched a new line of hemp-infused energy drinks under its Rockstar Energy Drink brand. The new product helps people relax as contain a combination of herbal ingredient. The drinks are available in three different flavors namely passionfruit, blueberry, and raspberry cucumber, and contain less caffeine in comparison to other Rockstar products. The company aimed to offer less energy hit and more relaxation products.

Conclusion

The Global Energy Drinks Market is forecasted to continue a moderate growth, primarily driven by the surging demand for Energy Drinks in a variety of flavors to boost physical performance and enhance energy levels and mental alertness. The growing demand for functional and healthier beverages among consumers along with the increase in product launches by the manufacturers to fulfill the growing demand is anticipated to augment the growth of the market. Though the market is highly competitive with ~150 participants, global players control the dominant market share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for pre-booking clients, and the report delivered within a maximum of two working weeks.

Ken Research has published a report on Global Energy Drinks Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 title that is segmented by type, product type, packaging type, end-user, flavor, and distribution channel. In addition, the report also covers market size and forecasts for the four region's Energy Drinks Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Type

Alcoholic

Non-Alcoholic

By Product Type

Drinks

Shots

Mixers

By Packaging Type

Cans

Bottles

Others

By End-Users

Kids

Teenagers

Adults

Geriatric population

By Flavor

Unflavored

Flavored

By Distribution Channel

Supermarkets/Hypermarkets

Specialty Stores

Convenience Stores

Vending Machines

Online Retail Stores

Other Distribution Channels

By Geography

North America

USA

Canada

Mexico

Europe

Germany

UK

France

Spain

Italy

Asia-Pacific

China

Japan

South Korea

India

Indonesia Australia

LAMEA

Latin America

Middle East

Africa

Key Players

Lucozade Ribena Suntory Limited

Otsuka Pharmaceutical Co., Ltd.

AriZona Beverages USA

National Beverage Corp.

Red Bull

Monster Energy Company

PepsiCo

Coca-Cola

Amway Corp.

NOS Energy Company

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Our market research consulting includes the application of the right methodologies around primary and secondary sources to collect market intelligence. Our segment professionals and consultants excel at reading the fine print from underlying data to create custom market research data and actional insights. Finally, as part of our market research solutions, we deploy advanced BI & visualization approaches to highlight our findings.

Ken Research’s team will assist you to solve your business challenges utilizing custom solutions, not solutions that functioned for someone else. At Ken Research, as Top International Marketing Research Companies we propose expertise around several methodologies and developed unique and innovative solutions you can utilize to understand client choices and solve business issues. Thus, we conceit ourselves about our ability to propose a personal personalized approach utilizing our vast experience around a broad variety of markets as well as exceptional value for money.

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Whether your market is in the next town or around India or the complete global geography, with all passion, as it is the heart of our business, Ken Research as Best Market Research Consultants in India can understand the importance of knowing what your customers want, what they want to purchase, and all other insights about the market which you are eyeing for.

We are continuously evolving as we could realize how our insights can assist our clients to drive profitable growth as our surroundings also involve what and where we measure. We as a Market Research Company in India could provide our clients with the best and most accurate view of trends and habits and we could study this around the global customer markets involving India.

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Europe Floating Power Plant Market Is Expected To Grow At a Rate of About 10% CAGR and Reach US$ 740 Mn by 2027: Ken Research

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A Floating Power Plant (FPP) is a power generation unit that is located on a platform, floating on a water body. Mostly the remote power generator is located on an existing cargo ship. They are self-driven and can be connected to the grid, whenever required, so end-users can use these as primary power sources as well as secondary power sources. There can be stationary floating platform power plants, which can be established in lakes or shallow waters near seashores and these floating power plants can be either solar energy or wind energy based.

According to Ken Research analysis, the floating power plant market in Europe is expected to grow at a rate of about 10% CAGR over the next five years (2022-2027) and reach US$ 740 Mn by 2027, due to the rising demand for clean energy sources, lack of power infrastructure, and need for secondary power sources.

• Awareness of clean energy is increasing around the globe day by day and many countries want to become carbon neutral in the future. Europe is investing more to make its power sector carbon neutral. Floating power plants are mobile in nature so they can be transported to any remote location near the sea or ocean and can supply power. Demand for power is increasing simultaneously with the shortage of power infrastructure. Floating Power Plants don’t require that much infrastructure and it eliminates the risk of land acquisition. These reasons are driving the growth of the Floating Power Plant market in Europe. According to Eurostat, the production of electricity from Renewable energy and biogas sources in the EU increased from 0.94 million GWh in 2018 to 1.07 million GWh in 2021.
• However Floating Power Plants involve high initial costs and as they float in the ocean and deep sea, they are uniquely vulnerable to certain weather phenomena, which is a major barrier for the Floating Power Plant market. For Instance, the Cost of a floating offshore wind project is 2X that of a fixed bottom offshore project and offshore wind turbines are significantly more expensive at 7.22 to 12.11 US$ /KWh whereas onshore wind turbines range between 3.93 and 8.27 US$ /KWh.
• The ongoing COVID-19 pandemic has adversely impacted the renewable energy sector. One of the major problems was the disruption in the delivery of components and modules to the manufacturers. Unlike conventional power plants, floating power plant requires less infrastructure and less time to supply power as well as they are mobile and flexible.

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Key Trends by Market Segment

By Power Source Type: The Renewable segment is estimated to hold the largest market share of Europe’s Floating Power Plant market.

Renewable floating plants’ market share is more and increasing as they are most environment neutral. Due to almost zero emissions, countries and other private energy producers are showing more interest in renewable Floating Power Plants.

• In July 2022, Madrid-based EDP Renewables, the world's fourth largest renewable energy producer, announced that it has started operating its floating solar power park in Alqueva, Portugal, which generates electricity with 12,000 photovoltaic panels spread over four hectares.
• In March 2022, ACCIONA Energía acquired a 24% stake in France-based start-up Eolink, a developer of floating foundations for offshore wind farms. The investment will help Eolink boost its floating offshore wind technology and benefit Acciona Energia as such the technology is intended to be suitable for offshore wind installations in countries such as Spain and Portugal.

By Platform Types:  Floating Power barges segment is expected to be the highest-growing segment. Floating barges are used for both renewable and non-renewable segments hence it is growing at the highest pace.

• In September 2021, Lincoln and SNC-Lavalin's Atkins business partnered to bring together the technology and project execution expertise needed to make floating structures or substations a reality.
• In June 2021, Hitachi ABB Power Grid announced that it has signed a Memorandum of Understanding with BW Ideol, a global leader and internationally recognized leader in floating offshore wind. The agreement pertains to the global acceleration of offering market-ready floating substations and solutions.

By Connectivity: The On-grid segment holds the largest market share in 2021 in Europe’s Floating Power Plant Market. Whereas the Off-grid segment will remain much smaller than the On-grid segment during the forecast period.

• An on-grid power system is an electricity generation system where it is connected to the utility grid whereas an off-grid system does not connect to the power grid and requires battery storage.
• In July 2020, a Spanish energy firm has announced the inauguration of Spain’s first on-grid floating solar plant on the Sierra Brava reservoir, in Extramadura.

By Capacity: The 100.1MW-250 MW capacity segment is estimated to account for the largest market share in Europe’s Floating Power Plant Market during the forecast period.

• The 20.1 MW to 100 MW capacity segment is estimated to be the fastest growing segment, owing to the increase in projects for floating solar and wind.
• Dutch solar project developer Groeneleven, a unit of German renewable energy company Baywa re, has begun construction on a 41 MW dc floating solar plant located on a former sand extraction lake in Selingen in the Dutch province of Groningen.

By Geography: The United Kingdom accounted for the largest share of total Europe Floating Power Plant market in 2021.

• The Netherlands is expected to witness the fastest growth during the forecast period, followed closely by France and Sweden, owing primarily to floating solar and floating wind capacity growth. For instance, in February 2022, a 14.7MWp floating solar plant has been commissioned in Peyrolles-en-Provence, in the French department of Bouches-du-Rhône by Boralex.
• In addition, Simply Blue Group unveils multi-gigawatt Floating Wind projects in Sweden. A 2 GW Skidbladner floating wind project in the South-East of Stockholm and the 2.75 GW Herkules project in the Southeast of the Island of Gotland is planned.

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Competitive Landscape

• The Europe Floating Power Plant market is highly competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players Most of the country-niche players are floating structure manufacturers.
• Large global players control about 60% of the market in terms of revenue, while regional players hold the second largest share. Some of the major players in the market include General Electric, Siemens, Ciel et Terre, Principle Power Inc., Man Energy Solutions SE, BW Ideol, SeaTwirl, Floating Power Plant A/S, Wärtsilä, Mitsubishi Heavy Industries, Caterpillar, Vestas and among others.
• The leading global companies such as General Electric, Ciel ET teare, Vestas, and BW Ideol are highly focused on providing a significant number of renewable floating power plants that can be used across Europe by independent power producers, public utilities, and more.

Recent Developments Related to Major Players

• In June 2021, Siemens Gamesa and Siemens Energy have signed a Memorandum of Agreement (MoU) with Odfjell Oceanwind to collaborate on the development of Mobile Offshore Wind Units for uninterrupted power supply.
• In May 2021, GE researchers unveiled that it is partnering with Glosten to design and develop advanced controls to support a 12 MW floating offshore wind turbine. This will lead the floating offshore wind industry toward becoming a commercially viable solution.
• In Nov 2021, Ocean Winds (a joint venture between ENGIE and EDP Renewables) and Principle Power have entered into a collaboration to work on the design of the floating platforms for France’s first commercial-scale floating wind tender.
• In December 2021, Wison Offshore & Marine has signed a deal with MAN Energy Solutions to collaborate on power barge and floating LNG-to-power projects worldwide.
• In May 2022, BW Ideol, JERA, and ADEME Investissement sign an investment agreement for financing the co-development of offshore wind projects using BW Ideol’s patented Damping Pool technology over the next 5 years. This will lead to the development of many new floating offshore power plants in Europe.
• In May 2019, Floating Power Plant A/S signed a memorandum of understanding with The Oceanic Platform of the Canary Islands (PLOCAN) to investigate and develop a potential deployment of Floating Power Plant’s technology in the PLOCAN test facilities in Gran Canaria. This will demonstrate the commercial-scale version of their hybrid floating wind and wave energy device.

Conclusion

Europe Floating Power Plant market will continue exponential growth during the forecast period primarily driven by rising demand for clean energy from all major industry sectors and countries to become carbon neutral and to solve the lack of power infrastructure issue. Though the market is highly competitive with ~100 participants, few global players control the dominant share and regional players also hold a significant share.

Ken Research has published a report titled Europe Floating Power Plant Market Size, Segments, Outlook and Revenue Forecast 2022-2027 That is segmented by Power Source Type, Platform Type, Connectivity, and Capacity. In addition, the report also covers market size and forecasts for the region's six major countries' Floating Power Plant markets. The revenue used to size and forecast the market for each segment is US million.

Market Taxonomy

By Power Source Type

Renewable

Floating Solar Panel,

Offshore Wind Turbines

Non-Renewable

Gas turbines,

IC engines

By Platform Type

Floating Structures

Power Barges

Power Ships

By Connectivity

On-grid

Off-grid

By Capacity

1 MW- 5MW

5.1 MW- 20 MW

20.1 MW-100 MW

100.1 MW-250 MW

Above 250 MW

By Country

Germany

U.K.

France

Spain

Sweden

The Netherlands

Rest of Europe

Russia

Denmark

Italy

Portugal

Others

Global Omega-3 Product Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

 The Global Omega-3 Product Market – which grew from ~US$ 2 Bn in 2017, estimated to ~US$ 3 Bn by 2022 – is forecasted to grow further into ~US$ 4 Bn opportunity by 2028, owing to the increasing demand for supplement products from the pharmaceutical sector, growing health concerns among consumers, and health and skincare benefits. These supplements generally include liquid products, capsules, and others.

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Key Growth Drivers

• Health benefits associated with the consumption of Omega-3 is a major factor that propels the growth of the Omega-3 Products Market. Omega-3 polyunsaturated fatty acids (PUFAs) contain immune nutrients and are commonly used in the nutritional therapy of cancer patients due to their biological effects.
• According to the World Health Organization (WHO), nearly 10 million deaths in 2020 were caused by cancer disease worldwide. It was observed in the WHO study that the most common cases of cancer were lung, prostate, skin, stomach, colon, and rectum. Due to this, the rising number of cancer patients is likely to drive the demand for Omega-3 products.
• Government regulation on fishing activities to protect the fish species is expected to hamper the raw material supply. Moreover, allergies related to fish oil and complex extraction procedure is also restraining the Omega-3 Product Market growth.
• The government of India has passed a law that restricts fishing or fishing-related activities in exclusive economic zones or high sea areas. In Europe, the Common Fisheries Policy states to preserve the fish stock, protect the marine environment, and ensure economic viability. In the USA, Magnuson-Stevens Fishery Conservation and Management Act, and the Endangered Species Act states prevent overfishing, rebuild overfished stocks, increase the long-term benefit of fisheries, and ensure a safe and sustainable seafood supply.
• Omega-3 has been proven beneficial in boosting immunity to help fight COVID-19 and has increased the growth of the omega-3 product market. This is because of the growing demand for omega fatty acids foods and dietary supplements to enhance immunity. The suggestion from doctors worldwide to include immunity-boosting supplements in day-to-day life is a major contributing factor in the growth of omega-3 products.

Key Trends by Market Segment:

By Product Type: The docosahexaenoic acid (DHA) segment held the largest market share of the Global Omega-3 Product Market in 2021, owing to the rising number of heart diseases and rising concern over the healthy living.

DHA is an Omega-3 fatty acid found in cold-water fish, such as tuna, sardines, shellfish, herring, and salmon. It is also found in fish oil supplements. DHA is used for various immunity applications such as in heart disease, attention-deficit hyperactivity disorder (ADHD), depression, infant development, menstrual pain, lupus, Raynaud syndrome, and others.

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By Source: The marine source segment accounted for the largest market share in 2021, owing to fish and fish oil as the main source of Omega-3 acids.

• Fish oil and supplements contain essential acids such as DHA and EPA, which help to reduce the risk of heart diseases. Prices of Omega-3 are also depended on the extraction and processing cost of the fish. In January 2020, AlaskOmega, a fish oil manufacturing company, launched an Omega-3 concentrate powder produced from natural fish oils. The powder is used in a variety of applications such as drink powders, energy bars, baked goods, dairy products, and others.

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By Application: The supplement and functional foods segment held the largest market share in 2021, owing to the growing awareness regarding nutritional food intake among various individuals and the young generation.

• Supplements are a kind of drug or natural health products, marketed as tablets, capsules, and other various means. Functional foods are defined as a supplement that has new or fresh ingredients, resulting in enhanced function and improvement in health.
• Rising demand for Omega-3 dietary supplements due to the COVID-19 outbreak is also driving this segment. Dietary supplements can contain minerals, herbs, and many other ingredients.

By Geography: North America accounted for the largest market share within the global Omega-3 Product market in 2021, owing to regular product improvement, and houses the major global companies operating in Omega-3 products.

• American Heart Association (AHA) recommends eating 2 servings of fish per week, which will serve high Omega-3 proteins. AHA also mentioned that Omega-3 fatty acids can reduce the risk of heart diseases and strokes.
• Moreover, the presence of leading companies operating in Omega-3 supplement and dietary products, like Cargill Incorporated, Cellena Inc., Stepan, and others in the region further boosts the expansion of this market.

Competitive Landscape:

The Global Omega-3 Product Market is highly competitive with ~400 players which include globally diversified players, and regional players as well as a majority number of country-niche players having their niche in Omega-3 product manufacturing and distributing for various applications.

Country niche players constitute ~70% by type of competitors while large global players constitute ~5% of the competitors. Some of the major players in the market include Croda International Plc, BASF SA, Cargill Incorporated, Reckitt Benckiser Group PLC, Orkla Health, Aker Biomarine, DSM N.V., Cellana Inc., Stepan, Epax, among others.

Recent Developments Related to Major Players

• In October 2021, the business partnership of BASF and Cargill now includes research & development by expanding its capabilities in new markets to the existing feed enzymes distribution agreement. The companies aim to develop, produce, and sell enzyme products and solutions to reduce the waste of nutrients and improve feed efficiency for animal growth and well-being.
• In June 2021, Polaris, a raw material supplier company, launched the most concentrated plant-based microalgae oil, named Omegavie DHA 800 Sensory Qualitysilver 5 algae.
• In March 2020, Wellness Companies, a manufacturer and raw material supplier launched MSC-certified omega-3 concentrate powder, designed for use in dietary supplements, food, and beverages.
• In October 2019, Epax announced an investment of US$ 35 in upgrading its facilities and capacity in response to consumer demand for high-potency omega-3 oils.

Conclusion

The Global Omega-3 Product Market witnessed significant growth during the period 2017-2021, owing to the awareness among people regarding health and various other infectious diseases. The growth rate is expected to remain significant during the forecast period. Though the market is significantly competitive with ~400 participants, the majority of country niche players constitute a higher number of competitor types, while global players hold a significant market share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks

Ken Research has recently published report titled, Global Omega-3 Product Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four regions in the Omega-3 Product Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Product Type	Docosahexaenoic acid (DHA) Eicosapentaenoic acid (EPA) Alpha-linolenic acid (ALA)
By Source	Marine Source Plant Source
By Application	Supplements & Functional Foods Pharmaceuticals Infant Formula Animal Feed & Pet Food Others
By Geography	North America (USA, Canada, Mexico) Europe (Germany, UK, France, Spain, Italy) Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia) LAMEA (Latin America, Middle East, Africa)
Key Players	Croda International Plc BASF SA Cargill Incorporated Reckitt Benckiser Group PLC Orkla Health Aker Biomarine DSM N.V. Cellana Inc. Stepan Epax

Global Semiconductor Rectifier Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

 The global semiconductor rectifier market is expected to record a positive CAGR of ~11% during the forecast period (2022-2028) and is expected to reach approximately US$ 10 billion by 2028.

The increasing demand for smart grids and the rising government expenses on modern power generation and distribution infrastructure are some of the primary factors that are expected to drive the semiconductor rectifier market. It is used in industries like IT and telecom, automotive, power and utility, and consumer electronics.

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Key Growth Drivers

• Increased demand for rectifier diodes in various automotive and power sector applications and miniaturization of traditional electronic devices is expected to boost market growth.
• Electronics have gained widespread use in the generation and regulation of power in the automotive industry. For instance, a new load-matching approach is launched in the automotive industry that makes use of a basic switched-mode rectifier to significantly enhance peak and average power production from a traditional Lundell alternator. The deployment of rectifiers has provided a new set of possibilities to power electronic components in vehicles and the overall power control and management system.
• The continued trend of equipment miniaturization in the electronics industry has compelled the feature sizes of the electronic components to correspondingly decrease which is, in turn, increasing the demand for semiconductor rectifiers.
• Technical difficulties and expensive semiconductor rectifiers limit market growth
• Typically, rectifiers are employed in electrical components to correct voltages, alter the size of signals, isolate signals from the source, and reference voltages. Due to these characteristics, semiconductor rectifiers are used in the circuits of electronic parts to protect against the dangers posed by the unintentional reversal of supply voltage. As a result, if connected improperly or inappropriately, it could harm the equipment or present a safety risk. Numerous things, such as poor grounding, a weak or loose battery, or a worn-out connection to the battery, might lead to the rectifier failing.
• For instance, replacing the regulator rectifier in an automobile after it fails could be expensive and time-consuming. However, a significant element acting as a barrier that may hinder market expansion is the high cost of acquiring semiconductor rectifiers. A bridge rectifier costs more since it needs four diodes to function.
• The COVID-19 outbreak has had a substantial impact on the global market for semiconductor rectifiers. Due to the slowdown and shortage of workers worldwide, production facilities for electronics and semiconductors had been put on hold. Also, travel restrictions and facility closures coupled with the COVID-19 epidemic have significantly and persistently reduced manufacturing utilization, which impacted the growth of the Semiconductor Rectifiers Market in 2020.
• However, by early 2021 the market had experienced a strong recovery rate as a result of the widespread demand for installing loT devices across a variety of industries and the quickly expanding initiatives for smart cities and smart grid technologies.

Key Trends by Market Segment

By Product Type: Three-phase product type segment held the largest market share in the Global Semiconductor Rectifier Market in 2021.

• Three-phase rectifiers have an input of three-phase AV power. Structures require three/six diodes and are joined with the transformer’s each phase of the secondary winding. Three-phase rectifiers are adopted in substitution of single-phase rectifiers for the reduction of ripple factor.
• Three phases are recommended when comparing the two types of rectifiers because it has a high-power output and does not need an additional filter to lower the ripple factor. As a result, three-phase rectifiers have a higher transformer utilization factor and are more efficient than single-phase semiconductor rectifiers.

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By Industry Vertical: Automotive industry vertical segment held the largest share of the Global Semiconductor Rectifier Market in 2021.

• The automotive industry is made up of several businesses that create, manufacture, and market automobiles. The automobile manufacturer powers all of the electronic components and supplies direct current to the batteries in its cars using semiconductor rectifiers.
• Electric cars, electric scooters, and electronic charging stations are among the products that need DC power supplies due. The need for automobiles will also have an impact on the high-power semiconductor sector, whose goods, including full-wave rectifier diodes, are used to power the motor and other electrical components in automobiles.

By Geography: Asia Pacific accounted for the largest market share in 2021 within the total Global Semiconductor Rectifier Market in 2021.

Over the past few years, consumer gadgets and cell phones have seen an increase in demand throughout Asia-Pacific. Additionally, market possibilities are predicted to be provided by growing smart grid technologies and rising power production and consumption in developing Asia-Pacific countries. It is anticipated that a sizable percentage of the Global Semiconductor Rectifier Market will come from China, India, and Japan.

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Competitive Landscape

The global Semiconductor Rectifier Market is highly competitive with ~200 players which include globally diversified players, regional players as well as a large number of country-niche players.

Country niche players and regional players constitute ~50% in terms of the number of players, followed by regional players with ~35% of the constitution. Some of the major players in the market include ABB, Mitsubishi Electric Corp., Toshiba Corp., Semiconductor Components Industries, LLC, Diodes Incorporated, Vishay Intertechnology, Inc., Comchip Technology Co., Ltd., STMicroelectronics, Hitachi, Fuji Electric Co., Texas Instruments (Ti), and others.

Recent Developments Related to Major and Emerging Companies

• In January 2021, Toshiba has released CUHS15F60, CUHS15S60, CUHS20F60, and CUHS20S60, four 60 V Schottky barrier diode (SBD) products. These products are suitable for rectifying power supply lines that need to increase the voltage to extend their lineup. The balance between the forward voltage and reverse current is important for the CUHS15F60 and CUHS20F60 devices, which have less forward voltage. However, the ultra-low forward voltage models CUHS15S60 and CUHS20S60 place a strong emphasis on lowering the forward voltage.
• In October 2020, SOMOS (a fabless semiconductor company) was purchased by STMicroelectronics. Through this acquisition, STMicroelectronics improved its expertise, intellectual property, and Front-End Modules roadmaps for the IoT and 5G industries. The development of ST's roadmap for RF Front-End Modules for the 5G infrastructure industry was aided by SOMOS technology and resources.
• In June 2019, Vishay Intertechnology, Inc., launched eight 100 V and 200 V devices in the eSMP series SMP (DO-220AA) package for expanding its portfolio of FRED Pt Ultrafast recovery rectifiers. This includes the first device in the market to deliver current ratings of up to 2 A.

Conclusion

The Global Semiconductor Rectifier Market is forecasted to continue a gradual growth that is witnessed since 2017, during the forecast period also. Key trends driving market expansion include the increasing demand for smart grids and the rising government expenses on modern power generation and distribution infrastructure. The market is highly competitive with ~200 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Ken Research has recently published report titled, Global Semiconductor Rectifier Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four major regions’ Semiconductor Rectifier Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Product Type	Single Phase Three Phase
By Industry Vertical	IT and Telecom Automotive Consumer Electronics Power and Utility Other
By Geography	North America USA Canada Mexico Europe Germany UK France Spain Italy Rest of Europe Asia Pacific China Japan South Korea India Indonesia AustraliaRest of Asia Pacific LAMEA Latin America Middle East Africa
Key Players	ABB Group Mitsubishi Electric Corp. Toshiba Corp. Semiconductor Components Industries, LLC Diodes Incorporated Vishay Intertechnology, Inc. Comchip Technology Co., Ltd. STMicroelectronics Hitachi Ltd Fuji Electric Co. Texas Instruments (TI)

 

Global Vegan Cosmetics Market is growing with CAGR of ~6% during 2022 to 2028: Ken Research

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According to Ken Research Analysis, the Global Vegan Cosmetics Market was valued at ~US$ 10 billion in 2017. Furthermore, owing to the increasing government interventions prohibiting cosmetics animal testing along with the increasing adoption of veganism, it is estimated to be ~US$ 13 billion in 2022 and is expected to reach a market size of ~US$ 20 billion by 2028 growing with CAGR of ~6% during 2022 to 2028.

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Key Growth Drivers

• The growing popularity of plant-based products, combined with the emerging veganism trend across countries, is driving up demand for vegan cosmetics.
• The rising government implementation of prohibiting animal testing for cosmetics across countries is a significant contributor to the growth of veganism.
• Increasing dissemination of counterfeit cosmetic products across countries may impede the growth of the vegan cosmetics market.
• The ongoing COVID-19 pandemic has bolstered demand for vegan cosmetics as consumers actively seek to improve their consumption patterns beyond food, particularly those who have been infected with the virus.

Key Trends by Market Segment

By Product Type: The Skincare segment held the largest market share of the global vegan cosmetics market in 2021, owing to increasing concern regarding skin nourishment due to numerous factors, such as the increasing occurrence of acne, black spots, scars, dullness, and tanning.

• Vegan skincare typically helps in preventing the diseases, such as eczema, psoriasis, and other skin allergies due to the presence of antioxidants.
• Furthermore, the adverse effects of conventional skincare products, such as itching, skin irritation, and blisters, are allowing individuals to opt for natural and vegan skincare products.

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By Distribution Channel: The Supermarket/Hypermarket segment held the largest market share of the Global Vegan Cosmetics Market in 2021.

• The growth is mainly attributed to the availability of a variety of products at lower or discounted prices as compared to other stores.
• The modernization of retail stores across countries, notably in emerging countries, is increasing revenue generation through off-trade sales channels, such as supermarkets/hypermarkets.

By Gender: The Women segment held the largest market share of the Global Vegan Cosmetics Market in 2021, owing to the increasing number of working women across countries.

• For instance, according to World Bank, as of June 2022, the women labor force participation rate is 46% globally.
• Women usually experience more acne, wrinkles, and blocked skin follicles than men, which leads to oil, bacteria, and dead skin buildup in pores, influencing them to use more natural, organic, and vegan cosmetics.

By Geography: Europe accounted for the largest share of the Global Vegan Cosmetics Market in 2021 and will remain dominant during the forecast period (2022-2028).

• The growth is mainly attributed to the emergence of a large number of prominent players for cruelty-free cosmetics in Europe, notably in Italy, France, the UK, Germany, and Spain.
• Furthermore, the European government’s move to prohibit animal testing for cosmetics is also encouraging individuals to use vegan cosmetics. In April 2022, European Union stated that selling cosmetic products tested on animals is prohibited and the testing applies to both the final formulation and the ingredients of the product.

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Competitive Landscape

The Global Vegan Cosmetics Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players with their niche in adopting advanced technology, such as fermentation technology to enhance the texture of products. Moreover, companies are competing on various parameters such as partnerships, new products offering, business models, marketing strategies, pricing, campaign, and more.

Country-niche players comprise about ~65% of the total competitors, while regional players constitute ~30% of competition. Some of the major players in the market include Arbonne International LLC, Coty Inc., Gabriel Cosmetics, L'Oréal S.A., Lush Retail Ltd., Shiseido Company, Limited, Plum, Disguise Cosmetics, Estée Lauder Companies Inc., Pacifica Beauty LLC, Amway Corp., L'Occitane en Provence, and among others.

Recent Developments Related to Major Players and Organizations

• In December 2021, L’Oreal S.A. acquired Youth to the People, a U.S.-based company that manufactures vegan skin care products with plant extracts and innovative active ingredients.
• In July 2021, Coty Inc. relaunched its existing brand Kylie Cosmetics with a new and improved vegan formula. The updated formulas are free of animal oils, parabens, and gluten and nearly 1,600 other harmful and irritating ingredients.

Conclusion

The global vegan cosmetics market is forecasted to continue the exponential growth at ~6% that is witnessed since 2017. The major driving factor contributing to the growing popularity of plant-based products, combined with the emerging veganism trend. Though the market is highly competitive with around ~500 participants, Country-niche players comprise the dominant share of competitors and regional players also hold a significant share.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.

Ken Research has recently published report titled, Global Vegan Cosmetics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, Market is segmented by product type, distribution channel, and gender. In addition, the report also covers market size and forecasts for the four major regions in the Vegan Cosmetics Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Product Type

• Skin Care
• Hair Care
• Makeup
• Others

By Distribution Channel

• Supermarkets/Hypermarkets
• Specialty Stores
• Online Channels
• Others

By Gender

• Women
• Men

By Region

• North America (USA, Canada, and Mexico)
• Europe (France, Italy, Germany, Spain, UK, and Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific)
• LAMEA (Latin America, Middle East, and Africa)

Key Players

• Arbonne International LLC
• Coty Inc.
• Gabriel Cosmetics
• L'Oréal S.A.
• Lush Retail Ltd.
• Shiseido Company, Limited
• Plum
• Disguise Cosmetics
• Estée Lauder Companies Inc.
• Pacifica Beauty LLC
• Amway Corp.
• L'Occitane en Provence