Skim Milk Powder Market Analysis in Good Shape in 2024; COVID-19 to Affect Future Growth Trajectory

The global skim milk powder market share is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these North America region has the major market share followed by Europe. New Zealand is the major exporter of skim milk powder. New Zealand mainly export its skim milk powder to countries like China, Algeria, U.A.E., Sri Lanka and Malaysia. After New Zealand, Netherlands is the major exporter of skim milk powder which export the products to Middle East and African countries. Asia Pacific region is emerging market for skim milk powder manufacturers as it has potential opportunities for skimmed milk powder market to grow due to its changing consumer food pattern and increase in economic conditions.

Skim Milk Powder Market Overview

Skim milk powder is dehydrated skim milk that is used extensively as a milk replacer. It is white to light cream in color with a clean dairy flavor. It is manufactured by removing water from pasteurized skim milk. It contains 4% or less moisture and 1.5% or less milk fat. Skimmed Milk Powder is commonly used in the manufacturing of cheeses, frozen desserts, margarine, soups, puddings, cultured products, beverages, recombined milk, dry mixes and confections. Whole milk contains around 147 calories a serving, whereas skim milk contains 91 calories. Skim milk is actually more nutrient dense than the other versions of milk, because the only thing actually removed from whole milk is the fat. Skim milk still contains all the nutrients which contains in the milk.

Skim Milk Powder Market Forecast:

Globally the skim milk powder market is mainly driven by increasing demand in food industry especially in bakery and confectionery food items. Rising working women population who prefer infant formula made from skim milk powder over breastfeeding is supporting the market growth. Improved packaging of skim milk powder is also influencing the growth of the market. High nutritional value, convenient usage and rising application in dairy products are also driving the demand of skim milk powder in the last few years.

Skim Milk Powder Market Downstream Analysis:

Skim milk powder is majorly used for dairy products manufacturing which contains low fat. The application of skim milk powder is increasing in bakery and confectionery products due to rising demand for low fat and nutritious bakery and confectionery products. There is a significant growth in the use of skim milk powder in infant formula as it contains essential vitamins, minerals and protein for an infant growth. Due to low fat content and rich source of protein and vitamins, the popularity of sport and nutrition foods made from skim milk powder is increasing from last few years.

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Key Players of Skim Milk Powder Market:

• Nestle (Switzerland)
• Alpen Dairies (Netherland)
• Miraka (New Zealand)
• Fonterra (New Zealand)
• Lactoland (Germany)
• Amul (India)
• Nova Dairy products (India)
• Synlait milk ltd (New Zealand)

Key players in skim milk powder market are mainly located in New Zealand, Netherlands and India are these countries are major producers of skim milk powder. The presence of manufacturers is also depends upon the availability of resources and demand for skim milk powder. Key manufactures are investing hugely to innovate efficient processing techniques and to improve packaging of skim milk powder to maintain high nutritional value of the product.

Skim Milk Powder Market Segmentation:

Global skim milk powder market is segmented by powder type, specialty diet, packaging and application and region.

Organic Cocoa Market Scenario, Growth Opportunities and Forecast 2024

According to the latest report published by Market Research Future (MRFR), the global market size of organic cocoa is likely to grow to USD 585 Mn by the year 585 Mn. This also indicates towards a strong growth of the market over the next couple of years. Organic cocoa-based food variants have expanded dramatically over the recent years and the trend is likely to gain further momentum in the forthcoming years. Modern consumers, especially millennials display a highly positive sentiment towards organic ingredients, which is partly supporting the growth of the market. The demand for premium grade chocolate products is on the rise, which is having a positive influence on the global sales of organic chocolate. Consumption of beverages and functional food prepared with organic ingredient is picking up steams worldwide, which in turn is prompting food brands to increase their focus on organic variants.

Market Research Future (MRFR) in its report offers a detailed segmental analysis of the Global Organic Cocoa Market based on application and region. By application, the market has been segmented into functional food & beverages, pharmaceuticals, bakery & confectionery, personal care products and others. The bakery and confectionery segment is expected to account for the largest share of the market during the forecast period. Use of organic chocolate in confectionary and bakery products has continued to grow over the years owing to their increasing demand from consumers. As consumers become more health conscious, brands are shifting their attention towards chemical-free healthy ingredients such as organic cocoa. The bakery and confectionery segment currently holds more than one-third market share and is expected to exhibit a healthy growth over 2022. The functional food & beverage segment holds the second spot and will remain highly profitable in 2018 and beyond.

By region, the market has been segmented into Americas, Africa and the rest of the world (RoW). The market for organic cocoa in the Americas is expected to remain highly lucrative over the next couple of years. Increased level of health awareness among Americans has led to an increased demand for organic food products, which characterizes the exemplary of the growth of the market in the region. Countries such as the U.S. and Canada remain the top investment destination for market players. By the years 2022, the market in the Americas is expected to reach a valuation of over USD 400 Mn, reflecting a strong growth. Africa is also likely to remain an important organic cocoa market. Over the next four years, the Africa organic cocoa market is project to witness an impressive growth. Africa is a major supplier of cocoa, which puts it in a strong position in the global organic cocoa market.

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Key Players

Key companies operating in the global organic cocoa market include BT Cocoa (Indonesia), Conacado Agroindustrial S.A.(Dominican Republic), Blommer chocolate company (U.S.), Tradin Organic Agriculture B.V. (U.S.), Olam Limited (Uganda), Mars Inc. (U.S.) and Barry Callebaut AG (Switzerland).

Mascara Market Scenario, Growth Opportunities and Forecast 2024

The increasing sale of mascara is driven by its increasing demand across the beauty and fashion sectors. Mascara is used to enhance the beauty of eyes by making the lashes look more voluminous. Increasing fashion awareness and self-consciousness amongst the female population in developed regions has led to the innovation in fashion sector leading to the increased sale of various type of mascara globally. Increasing disposable income due to economic developments has influenced the positive growth rate of this market. The production of mascara is found to be high in Europe and is evaluated to increase at a positive growth rate in various countries of Asia-Pacific and North America.

Market Forecast:

Globally, the Mascara Market Growth as a key product in eye cosmetics is estimated to escalate at a higher growth rate which is coupled with increasing fashion awareness in the contemporary population The high demand for trending beauty products are supporting the sale of mascara in the market. Developing economy of various regions is fueling up the market demand for mascara on a global level.

All these factors contribute to the calculated CAGR of 5.70% of mascara market during the period of 2017-2023.

Downstream Analysis:

Voluminizing mascara is found to hold a lion’s share in the mascara market whereas the demand for lengthening mascara is growing at a significant rate due to high consumers’ preference towards application of mascara to increase the overall volume of the eye lashes. With the increase in demand for long lasting cosmetic products, the share of water resistant mascara is anticipated to increase during the forecast period.

Supporting the chemical-free property of mascara and cosmetic products, formaldehyde-free mascara is evaluated to hold a major share in this market. In addition, sale of mascara through specialty-stores is found to hold a significant share amongst the various other distribution channels.

Competitive Analysis:

The major key players in Mascara market are

• L'Oréal Group (France)
• Procter & Gamble (U.S.)
• LVMH (France)
• The Estée Lauder Companies Inc. (U.S.)
• Amway (U.S.)
• Shiseido Co., Ltd. (Japan)
• Natura Cosméticos S.A. (Brazil)

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Mascara manufacturers across various regions follow the strategy of improving their existing product line by adding innovations to their products to expand their business. Due to this, mascara products with various unique colors and shades are gaining popularity globally. This is one of the major factors due to which the demand of mascara as a potential eye cosmetic product is experiencing a surge. In the Europe, France is amongst the dominating countries holding a major share in mascara market exporting the product in various other countries which include U.S., China, Singapore, U.K., Germany and others.

Regional Analysis:

The Global Mascara Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe holds a major market share followed by North America. The high demands for mascara from the developed countries of these regions is contributing to the positive growth of mascara market. Economic development and changing fashion trends is also driving the mascara market. China, Hong Kong, U.K., Singapore, and Germany are the major importers of mascara.

Medicinal Plant Extracts Market Scenario, Growth Opportunities and Forecast 2024

Medicinal Plant Extracts Market is growing due to increasing demand for herbal medicines and ayurveda & homeopathic products because of changes in consumer behavior thus influencing the growth of this market. Increasing acceptance of medicinal plant extracts based products due to rising awareness as well as health concerns is Also one of the key factor driving the growth of the global medicinal plant extract market.Also, increasing demand for natural skincare products containing medicinal plant extracts is also a major factor in the growth of this market.Major market dispersion has led to the introduction of new products based out of the medicinal plant extracts and their retail across various regions.

The market players are responding to these new opportunities by expanding their service offerings / product lines, which has fuelled up the share of medicinal plant extracts in the global market.Add, the augmentation of the product development together with research advancements are other significant reasons for Therefore, along with changing consumer preferences, the growth of global plant extract market is significantly increasing during the forecast period of 2017-2023.

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Competitive Analysis

Some of the Key Players in the Global Medicinal Plant Extracts Market are

Phytovation (UK)

Sigma-Aldrich Co. LLC (US)

Plant Extracts International Inc. (US)

• Organic Herb Inc. (China)
• Arjuna Natural Extracts LTD (India)
• Indfrag (India)
• KANCOR (India)

The demand for Medicinal Plant Extracts has pushed manufacturers to innovate and develop new product lines, which provide better quality and offers various health benefits.

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Downstream Market Analysis

Changing consumer preferences is the key factor for the growth of this market. Furthermore, the admiration of medicinal plant extracts and its involvement in medicines and cosmetics is increasing the growth of this market. Rising awareness towards health and natural skincare products as well increasing demand for dietary supplements is expected to play a significant role in the growth of this market during the forecast period. Additionally, the augmentation of the product development together with research advancements are other significant reasons for the increasing growth of the medicinal plant extracts market during the forecast period 2017-2023.

Regional Analysis

Global Medicinal Plant Extracts Market is regionally segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW) .Asia Pacific has developed as the dominant region followed by North America for the medicinal plant extracts market. Growing health benefits coupled with rise in demand for personal care products has strengthened the growth of global medicinal plant extract market and hence is expected to significantly expand the revenue contribution of the market during the forecast period.In Asia Pacific, owing to ancient history of herbal and natural remedies for diseases , will drive the growth of this market in this region.However, in the Asia Pacific region, significant growth is expected in China and India due to increasing health concerns as well as wide ranging medical uses, over the forecast period 2017-2023.

Smart Kitchen Appliances Market Scenario, Growth Opportunities and Forecast 2024

Smart kitchen appliances are regular kitchen appliances integrated with advanced technology. The appliances are capable of connecting to various available technologies such as wireless network, Wi-Fi system, Bluetooth, and others and run on the inbuilt intelligence system. With developing economic conditions, consumers are found to adapt to various unique technologies to make their cooking more convenient and time-saving. Manufacturers have developed various appliances including smart fridge, ovens, smart weighing scales, intelligent pans and others which have not only made the cooking experience better but have also resulted in power saving across the globe.

Market Forecast:

North America and Europe market for Smart Kitchen Appliances Market Demand have witnessed continued demand during the last few years and is projected to reach USD 5906.78 Million in North America and USD 5595.05 Million in Europe by 2023. Developing economy and consumers’ adoption of modern lifestyle and technology trends are likely to increase smart kitchen appliances’ market share in these two major regions. Increasing disposable income and consumers’ inclination to cope up with the social dynamics also have a positive impact on its market growth.

Based on the product-type, intelligent pans will witness the highest growth rate (~19.64%) in Europe and (~18.87%) in North America. By 2023, intelligent pans and instant pots will witness high growth rate among the various smart kitchen appliances type due to its diverse cooking based applications and the high demand for the household cooking purpose. Combination ovens will contribute to the largest market share in smart kitchen appliances. Instant pot will grow at a growth rate of 18.75% in North America and 19.30% in Europe and is anticipated to hold a significant share in the North America and Europe smart kitchen appliances market.

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By Downstream Analysis:

By 2023, smart combination ovens will reach a market value of more than USD 1,000 Million in both the regions. Dual application and convenience usage of combination ovens are having a positive impact on its market. Based on the application, the residential application is anticipated to hold the lion’s share of North America and Europe smart kitchen appliances market owing to the high demand for smart household appliances.

Wireless sensor networks will carry the major share of technology-type in smart kitchen appliances owning to technology developments. Bluetooth will secure the second position concerning market share based on technology type. Bluetooth technology is expected to grow at a CAGR of 18.91% in Europe and 18.23% in North America. Among the store-based distribution channel, specialty retailers will hold the highest market share of more than 25% in both the regions.

Competitive Analysis:

The major key players in smart kitchen appliances market are

• Breville Group Ltd.
• AB Electrolux
• Hamilton Beach Brands, Inc.
• Robert Bosch GmbH
• Whirlpool Corp.
• Samsung Electronics Co., Ltd.
• Tovala
• Vorwerk Elektrowerke GmbH & Co. KG
• Hestan Cue, Inc.
• Lakeland Limited
• Etekcity Corporation

Key players are focused majorly on new product launch to expand their business of smart kitchen appliances products and it accounts for more than 34% of the overall strategy share by key players from last few years. Acquisition and partnerships are the main factors, which are contributing more than 51% of strategy share and is facilitating the companies to penetrate the potential market across globe.

Regional Analysis:

Among the regions, North America will continue to dominate the smart kitchen appliances market with more than 50% market share and it is projected to reach more than USD 5,906 Million with CAGR of 18.08% by 2023. Europe will witness the highest growth rate (~18.82%) during the forecast period 2017-2023. Growing popularity of smart kitchen appliances owing to their power saving capacity and eco-friendly technology is supporting their market growth in North America and Europe. Developing economy and increasing disposable income are playing a key role in the smart kitchen appliances market growth from the last few years.