Pea Flakes Market Size Worth $3.4 Billion By 2025

The global pea flakes market size is expected to reach USD 3.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.6% over the forecast period. Growing awareness regarding health benefits offered and rise in incorporation of pea flakes as a staple food are expected to remain a key driving factor. Furthermore, increasing application of yellow and green pea flakes as an animal feed and aqua feed is fueling the demand for these products.

North America dominated the market in 2018 with a revenue of USD 629.3 million. This region is expected to witness significant growth due to growing awareness regarding the high nutritional content of the product and rising health issues like obesity and high blood pressure. Furthermore, strong brand goodwill and foothold of one of the major industry players, Garden Valley Foods is generating demand through their well-established distributor networks in U.S.

Asia pacific is anticipated to witness significant growth in the coming years. This growth is attributed to growing health awareness and rapidly increasing population in the countries including China and India. Rising incorporation of pea flakes in soups, salads, and other food products is a key factor expanding the scope of the global market in above-mentioned countries.

Yellow pea flakes led the market and accounted for 53.1% share of the overall revenue in 2018 owing to their high vitamin, mineral, and protein content, coupled with increasing inclination of consumers towards these products. Green pea flakes is the fastest growing segment in the market since it is easy to digest, rich in fiber, and natural source of protein. Growing application of pea flakes in aqua feed is drawing more demand for these products.

The food processing application segment accounted for the largest market share in 2018 due to superior health benefits of the product and high acceptance among the fitness oriented population. Usage of these products in animal feed is increasing in order to fulfill nutritional deficiencies.

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https://www.grandviewresearch.com/industry-analysis/pea-flakes-market

Further key findings from the report suggest:

The global pea flakes market is projected to generate a revenue of USD 3.4 billion by 2025
By application, animal feed held a share of 25.3% of the overall revenue for the year, 2018
Europe is expected to account for 25.9% share of global revenue by 2025
Key players operating in this market include Garden Valley Foods; Gemef Industries (Sotexpro); PE Levona; JR Farm; BP Milling; Dumoulin S.A.; Green Foods LLP; and Inland Empire Foods Inc.

Bubble Tea Market Size Worth $4.2 Billion By 2027

The global bubble tea market size is expected to reach USD 4.2 billion by 2027 registering a CAGR of 8.9%, according to a new report by Grand View Research, Inc. Shifting consumer preference from carbonated drinks to zero-fat hot beverages, such as bubble tea, is expected to be the key factor for the market growth.

Asia was the largest regional market in 2019 and accounted for 35% of the global share. The region will retain its dominant position throughout the forecast years on account of high consumption of bubble tea in countries including Taiwan, China, and Thailand. In addition, according to the ASEAN Post, which was published in December 2019, the average consumption of bubble drinks in Thailand was six cups per person per month.

Major companies in this market are expanding their global presence through various business strategies. For instance, in September 2019, The Alley, a renowned Taiwanese restaurant chain, inaugurated its first restaurant in New York City. Thus, increasing number of restaurant chains specialized in bubble hot beverages is anticipated to boost market growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/bubble-tea-market

Further key findings from the report suggest:

Black tea segment held the major share of more than 45% in 2019 and is estimated to expand further at a steady CAGR over the forecast period
Green tea product segment is anticipated to register the fastest CAGR from 2020 to 2027 owing to various health benefits of this beverage
Fruit flavor led the flavor segment in 2019 accounting for the largest market share. It is projected to maintain its leading position throughout the forecast period
Asia Pacific was the largest regional market in 2019 and will grow further at a significant CAGR from 2020 to 2027

Silicon Carbide Market Size Worth $7.18 Billion By 2027

The global silicon carbide market size is projected to touch USD 7.18 billion by 2027, exhibiting a revenue-based CAGR of 16.1% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand from semiconductors is likely to remain a key driving factor as the product improves efficiency, reduces form factor, and operates at high temperatures.

The aforementioned properties of Silicon carbide (SiC) semiconductors along with its advantages over silicon makes it suitable in applications such as automotive and aerospace and defense industries. High temperature resistant materials are widely used in these industries, thus, there is increasing adoption of SiC semiconductors in power electronics, which in turn is likely to drive the SiC market growth over the forecast period.

The strategic initiatives adopted by the key players in the semiconductor industry are expected to play a key role in the growth of the SiC semiconductors industry. For instance, in January 2019, Cree, Inc., signed a multiyear supply agreement of silicon carbide wafers to STMicroelectronics. These rapid developments are expected to positively influence the growth of the silicon carbide market over the forecast period.

In Asia Pacific, the rising population along with adopting urbanization is expected to propel the development of smart cities and smart houses, which in turn is anticipated to boost the demand for silicon carbide power modules in electric vehicles. China is one of the largest automobile producers in the world, accounting for 29.1% in 2018. Increasing production of automobiles is anticipated to fuel the product demand over the coming years.

Key market players Carborundum Universal Limited; Entegris, Inc.; AGSCO Corporation; Dow Chemical Co.; ESD-SIC b.v.; Saint Gobain Ceramic Materials GmbH; ESK-SIC GmbH; and Grindwell Norton Ltd. Most of the market players are focused on capacity expansions and mergers and acquisitions to meet the growing demand for silicon carbide. For instance, In November 2018, Entegris announced the expansion of the manufacturing capacity of its facility located in Kulim, Malaysia by 30%. In the expansion project, new tooling, molding machines, and numerous updates to the assembly area were installed to support the increasing silicon carbide wafer and reticle handling demand.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/silicon-carbide-market

Further key findings from the report suggest:

Green silicon carbide segment is anticipated to progress at a CAGR of 10.1%, in terms of volume, over the forecast period owing to the increasing production of semiconductors that are further used in various electrical and electronics applications, such as transistors, solar cells, and LEDs
Steel segment accounted for a revenue share of 21.1% in 2019 owing to the increasing demand for steel from various end-use, industries, such as automotive, construction, and oil and gas. Silicon carbide is used as a deoxidizing agent, abrasive, and refractory in the steel industry
Electrical and electronics is among the fast growing segments with a CAGR of 10.8% in terms of volume from 2020 to 2027. The growth is attributed to the increasing demand for semiconductors owing to the increasing utilization of renewable sources of energy across the globe
Asia Pacific is projected to witness a CAGR of 17.9% in terms of revenue over the forecast period, owing to the growth of the manufacturing sector in countries including China, India, Japan, and South Korea
North America is expected to witness a CAGR of 7.6% in terms of volume over the forecast period owing to the increasing product utilization in electronics, aerospace, and defense industries
Major players in the silicon carbide market include AGSCO Corporation; Carborundum Universal Limited; Dow Chemical Co.; Entegris, Inc.; ESD-SIC b.v.; ESK-SIC GmbH; Grindwell Norton Ltd; and Saint Gobain Ceramic Materials GmbH.

Tea Market Size Worth $18.42 Billion By 2025

The global tea market size is expected to reach USD 18.42 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.5% during the forecast period. Rising popularity of carbonated drinks coupled with rise in consumer disposable income, especially in emerging economies such as India, China, and Brazil will create robust product demand.

Tea, being a widely consumed beverage especially across Asia Pacific (APAC) and Middle East and Africa (MEA). It has gained immense popularity in other parts of the world as well, owing to its antioxidant properties. Presence of polyphenols, antioxidants, vitamins, and a variety of amino acids make it help strengthen the immune system. Additionally, it helps lower cholesterol levels, increase metabolism, and may help prevent cancer. It also contains a small amount of caffeine, which boosts its consumption as a mild stimulant.

Changing demographics, rise in disposable income of middle class population, especially in urban areas is anticipated to drive the product consumption and in turn drive the market. Millennials are anticipated to register the strongest growth, especially in countries such as China, Japan, Brazil, and India. Rising awareness regarding the benefits of drinking tea coupled with willingness to shell out money on the product is anticipated to bode well for the demand. Hence, to leverage this trend, a number of manufacturers are repositioning the product like a lifestyle brand to reach more consumers. They engage in social media campaigns and celebrity advertising to promote their new and premium flavors.

In 2018, black tea held the largest market share of about 39%. The product is predominantly produced and consumed in countries like India, China, Sri Lanka, and Kenya. Green tea is also anticipated to hold a significant market share over the forecast period. The product is a natural and organic detoxifying agent and hence, along with food and beverage, it also finds application in skin care and wellness products. It that has therapeutic properties to cure scars, helps manage weight, and to improves skin texture.

Oolong is a premium-quality product that apart from being used as a weight loss remedy, has innate properties to help prevent type 2 diabetes. Herbal tea includes hibiscus, tulsi, jasmine, and chamomile among numerous other flavors. These products are popular among consumers from European countries such as Germany and U.K. Typhoo, the British packaged tea brand currently owned by Kolkata, India-based, Apeejay Surrendra Group, which manufactures non-tea infusions, including organic herbal mixes due to declining black tea market, especially in the European countries.

Hypermarkets and supermarkets distribution channel segment held the market share of more than 38% in 2018, while convenience stores held the market share of around 32% in the same year. Specialty stores, such as Fabindia and Teafloor provide consumers with premium and exquisite brands and flavors. On the other hand, online channel is expected to expand at the fastest CAGR of 5.9% over the forecast period due to ease of payment methods and availability of a wide variety of products.

Most companies operating in the market engage in product innovation and R&D. They also focus on innovative advertising and social media campaigns to attract more target consumers. Tata Global Beverages entered into Ready-to-Drink segment with the introduction of green tea based drink, led by Tata Tea in India and Tetley in Canada.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/tea-market

Further key findings from the report suggest:

Asia Pacific is projected to generate a revenue of USD 6.33 billion by 2025
Green tea constituted about 30.54% of the total market share in 2018 and is projected to exhibit a significant rise in the next few years
MEA is anticipated to lead the global tea market with the fastest CAGR of 7.3% over the forecast period
The market is highly competitive in nature with the main players including Tata Global Beverages; Unilever; Associated British Foods Plc.; TAETEA; Nestlé S.A.; Barry’s Tea; Apeejay Surrendra Group; Bettys & Taylors Group Ltd.; McLeod Russel; and ITO EN Inc.; Mighty Leaf Tea Company; Numi Organic Tea; The Republic of Tea; Tazo Tea Company; Teavana; Celestial Seasonings, Inc.; Fukujuen; Harney and Sons; Kazi Tea; M. M. Ispahani Limited; DavidsTea; Tim Hortons; and Godrej Group

Biocomposites Market Size Worth $46.3 Billion By 2025

The global biocomposites market size is projected to reach USD 46.3 billion by 2025, according to a report by Grand View Research, Inc., exhibiting a 12.5% CAGR during the forecast period. Increasing use of biocomposites in end-use sectors such as automotive, building and construction, electrical and electronics, and consumer goods is the main driver triggering the biocomposites market. Additionally, changing consumer preference from plastic composites to ecofriendly biocomposites is expected to spur market growth over the forecast period.

Biocomposites are composite materials made from natural fiber such as wood or non-wood fiber, along with polymer resin. Their use in various sectors is increasing due to their eco-friendly characteristics. They are effectively being used as a substitute for plastic composites. Strict environment laws are also favoring their usage.

Use of biocomposites made from wood fiber is growing as an increasing number of forests are under systematic and sustainable utilization. Wood plastic composites are manufactured from wood fibers. Use of natural polymer is also increasing as a result of push for 100% biodegradable products. There is a significant demand for 100% biodegradable products in developed markets of North America and Europe.

The handling of plastic waste globally is a serious issue as plastic products do not decompose easily. In order to tackle this problem, a number of governments have banned plastic products and are promoting the use of biocomposites as a substitute for plastic composites. Furthermore, they are used as a substitute for metal and alloys in automotive nonstructural parts such as parcel shelves and interior panels. Use of biocomposites in the automotive sector is likely to help in decreasing the overall weight of a vehicle and also reduce instances of injuries to passengers in cases of accidents. Similarly, surging demand in electrical and consumer durables sectors is expected to drive the market.

Rising disposable income in developing countries such as China and India and growing awareness about biocomposites and their advantages are key factors expected to drive the market in the region. Ban on non-reusable plastics in Europe is driving demand in the region.

A number of key players in the industry are investing in research and development of eco-friendly and high strength products. Some players have also integrated their operations throughout the value chain in an attempt to increase profitability and serve customers better.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/biocomposites-market

Further key findings from the report suggest:

By type of fiber, wood fiber composites are expected to grow at the fastest throughout the forecast period
Transportation emerged as the largest end-use segment in the market, followed by building and construction
Asia Pacific is expected to be the largest regional market for biocomposites. It is also likely to be the fastest-growing regional market over the forecast period.