Artificial Intelligence
Dairy Flavors Market to Reach $2.55 Billion, Globally, by 2028 with 4.5% CAGR – Growth Report by The Insight Partners
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New York, Jan. 30, 2023 (GLOBE NEWSWIRE) — According to The Insight Partners, “Dairy Flavors Market Size, Share, Growth, Trends and Global Forecast to 2028 – COVID-19 Impact and Global Analysis by Flavor Profile (Cheese, Butter, Cream, and Others), Form (Liquid, Powder, and Paste), Category (Artificial and Natural), Nature (Dairy-based and Dairy-free), Application (Bakery and Confectionery; Dairy and Frozen Desserts; Soups and Sauces; Dressings, Dips, and Spreads; Beverages; Others)”; the global dairy flavors market size is expected to grow from USD 1.96 billion in 2022 to USD 2.55 billion by 2028; it is estimated to grow at a CAGR of 4.5% from 2022 to 2028.
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Global Dairy Flavors Market – Report Scope:
| Market Size Value in | USD 1.96 billion in 2022 |
| Market Size Value by | USD 2.55 billion by 2028 |
| Growth rate | CAGR of 4.5% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 153 |
| No. of Tables | 142 |
| No. of Charts & Figures | 103 |
| Historical data available | Yes |
| Segments covered | Flavor Profile, Form, Category, Nature, and Application |
Dairy Flavors Market: Competitive Landscape and Key Developments
Jeneil, Flavorjen, The Edlong Corporation, Givaudan S.A., Kerry Group, Sensient Technologies, Symrise, Synergy Flavors, Bluegrass Ingredients Inc., and Flavorade India are among the key players operating in the dairy flavors market. These companies have a widespread presence across the world, which allows them to serve a large number of customers.
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Impact of COVID-19 Pandemic on Global Dairy Flavors Market Growth:
Before the pandemic, the growing demand for processed food and the increasing consumer requirement for a variety of flavors and tastes of the product were the key factors that boosted the growth of the dairy flavors market. The dairy flavors market was driven by the food & beverages industry incorporating a variety of flavors in its products. Moreover, consumer shift toward natural flavors and increased consumption of ready-to-eat products among the population were among the other factors positively influencing the market growth. However, industries experienced unprecedented challenges after the onset of the COVID-19 pandemic in 2020, including supply chain constraints caused by nationwide lockdowns, trade bans, and travel restrictions. The supply chain disruptions created a shortage of raw materials, which affected the production and distribution of various products, leading to increased prices.
In 2021, various economies resumed operation as governments of various countries announced the relaxation of the previously imposed restrictions, which boosted the global marketplace. Further, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap and other repercussions. As numerous citizens of many countries were fully vaccinated by 2021, the dairy flavor manufacturers focused on increasing their production to revive their businesses
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Growth in Asia Pacific Dairy Industry Drives Global Dairy Flavors Market:
The dairy industry is one of the significant contributors to the economic growth of Asia Pacific, especially India and China. India is one of the major producers of milk and other dairy products. According to the Food and Agriculture Organization (FAO), India is the leading milk producer, having ~22% share of the global milk output. The growth of the dairy industry in Asia Pacific is primarily attributed to the significant economic development, rise in disposable income, and increase in preference for healthy and protein-rich food and beverages.
The abundance of raw materials for manufacturing dairy flavors due to the presence of the well-established dairy industry in the region is expected to propel the growth of the dairy flavors market across Asia Pacific. Furthermore, people in the region are increasingly preferring cheese, cream, and butter-flavored food products such as savory snacks, cookies, biscuits, frozen desserts, and salad dressings & dips. These flavors offer a rich taste and mouthfeel to the food products and are gaining huge traction, especially among the young population and kids across the region. This factor is also propelling the growth of the dairy flavors market.
Asia Pacific held the largest share of the dairy flavors market in 2021. The market growth in the region is attributed to rising health awareness and increasing focus on tasty food in countries such as India, China, and Japan due to the growing disposable incomes. Consumers are willing to pay higher prices for dairy flavor products in these countries. India stands as one of the fastest-growing markets in Asia-Pacific, where consumers are not willing to compromise on the taste and health factors of the food. The Indian subcontinent has a massive demand for regional and traditional flavors, which is fueling the market growth. The increasing need for new and foreign flavors compels the players to develop innovative and healthy dairy flavors. Different manufacturers are trying to replace sugar with dairy flavors.
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Dairy Flavors Market: Segmental Overview
Based on flavor profile, the dairy flavors market is segmented into cheese, butter, cream, and other. The cheese segment held the largest market share in 2021 and is expected to register the highest CAGR during the forecast period. The popularity of cheese flavor is based on its use in popcorn, potato chips, cookies, crackers, dips & spreads, and sauces, among other products. Elevating demand for food products, growing retail outlets, and increasing preference for fast food are bolstering the demand for cheese flavors.
Based on form, the dairy flavors market is segmented into liquid, powder, and paste. The liquid segment held the largest market share in 2021, and the powder segment is expected to register the highest CAGR during the forecast period. Liquid dairy flavors are offered in bottles and tubes with their manufacturing and expiry dates mentioned on the labels. In beverages, dairy flavors are mainly used in liquid form as they can be mixed easily in the beverage matrix and remain stable throughout the process.
Based on category, the dairy flavors market is segmented into artificial and natural. The natural segment held a larger market share in 2021 and is expected to register a higher CAGR during the forecast period. The rising demand for healthy food and problems associated with synthetic food ingredients are boosting the preference for natural dairy flavors. Furthermore, changing consumer demands with the growing purchasing powers favor food prepared using natural ingredients, including dairy flavors.
Based on nature, the dairy flavors market is segmented into dairy-based and dairy-free. The dairy-based segment held a larger market share in 2021, and the dairy-free segment is expected to register a higher CAGR during the forecast period. A large percentage of consumers prioritize taste over nutrition and are thus inclined toward creamy textures. Dairy-based flavors are processed and manufactured from dairy products such as milk, butter, cheese, and fresh cream. These flavors are specifically designed to enhance the flavor of dairy-based products.
Based on application, the dairy flavors market is segmented into bakery and confectionery; dairy and frozen desserts; soups and sauces; dressings, dips, and spreads; beverages; and others. Bread, cookies, cakes, and fillings are among the primary bakery and confectionery applications of dairy flavors. Confectionery manufacturers are increasingly using natural flavors in their products. Dairy-based flavors are increasingly being used in bakery products such as cookies and cakes.
Browse other research published by The Insight Partners:
Global Cheese Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis By Product (Mozzarella, Cheddar, Parmesan, Feta, Blue Cheese, Others); Form (Slices, Shredded, Diced/Cubes, Blocks, Spreads, Others); Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others) and Geography
Global Dairy Alternatives Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis By Source (Soy, Almond, Coconut, Oats, and Others), Product Type (Milk, Ice Cream, Yogurt, Cheese, and Others), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)
Global Dairy Ingredients Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Protein, Milk Powder, Milk Fat Concentrates, Lactose & Lactose Derivatives, and Others) and Application (Food & Beverages, Animal Feed, Pharmaceuticals & Nutraceuticals, and Personal Care)
Global Dairy-Free Yogurt Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis By Source (Soy, Almond, Coconut, Others); Category (Plain, Flavored); Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others) and Geography
Global Fortified Dairy Products Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis by Product Type (Milk, Cheese, Yogurt, and Others), Micronutrients (Vitamins, Minerals, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others), and Geography
Global Dairy-free Chocolates Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis By Category (Gluten-Free, Conventional); Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others) and Geography
Global Dairy Blends Market Size Forecast to 2028 – Covid-19 Impact and Global Analysis – by Type (Dairy Mixtures, Dairy/Non-Dairy Ingredients, Dairy as Functional Ingredient, Dairy as Carrier, Others); Application (Ice Cream, Yogurt, Infant Formula, Bakery, Beverage, Other Applications); Form (Spreadable, Powder, Liquid) and Geography
Global Dairy Protein Market Size Forecast to 2028 – Covid-19 Impact and Global Analysis – by Product Type (Milk Protein Isolates (MPIs), Casein and Caseinates, Whey Protein Isolates (WPIs), Whey Protein Concentrates (WPCs), Milk Protein Concentrates (MPCs), Other Product Types); Form (Dry, Liquid); Application (Bakery and Confectionery, Convenience Food, Clinical Nutrition, Sports Nutrition, Infant Nutrition, Food Supplements, Other Applications) and Geography
Global Dairy Spread Market Size Forecast to 2028 – Covid-19 Impact and Global Analysis – by Type (Cheese Spreads, Butter Spreads, Others); Application (Bakery, Confectionery, Processed Fruits, Frozen Deserts, Others); Distribution Channel (Direct, Indirect, Specialty Food Stores, E-Commerce, Others) and Geography
Global Dairy Herd Management Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis By Product (Automated Systems, Standalone Software); Application (Milk Harvesting, Breeding, Feeding, Cow Comfort and Heat Stress Management, Other); End User (Cooperative Dairy Farms, Small-Scale Dairy Farms, Large-Scale Dairy Farms) and Geography
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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Artificial Intelligence
Wego and Tourism Authority of Thailand Partner for The Fourth Consecutive Year, Showcasing the Beauty of Thailand
DUBAI, UAE, April 25, 2024 /PRNewswire/ — Wego, the largest online travel marketplace in the Middle East and North Africa (MENA), is thrilled to announce its continued partnership with the Tourism Authority of Thailand (TAT) for the fourth consecutive year, showcasing the unparalleled beauty and charm of Thailand as a premier travel destination.
Building upon the success of their previous collaborations, Wego and the Tourism Authority of Thailand are once again teaming up to promote Thailand’s diverse attractions, rich culture, and breathtaking landscapes to travelers worldwide. Through this strategic partnership, Wego aims to inspire travelers to explore the wonders of Thailand and experience its unique blend of tradition and modernity.
Over the past campaigns, Wego and the Tourism Authority of Thailand have successfully amplified Thailand’s appeal as a top travel destination, reaching millions of travelers and driving significant interest in visiting the country. From its pristine beaches and vibrant cities to its lush jungles and cultural heritage sites, Thailand offers an array of experiences that cater to every traveler’s preferences.
“We are delighted to continue our partnership with the Tourism Authority of Thailand for the fourth consecutive campaign,” said Mamoun Hmedan, Chief Business Officer, Wego. “Thailand is a beloved destination for travelers worldwide, and we are committed to showcasing its beauty and diversity through our platform. Together with the Thailand Tourism Board, we look forward to inspiring even more travelers to explore all that Thailand has to offer.”
The success of the previous campaigns underscores the effectiveness of Wego and the Thailand Tourism Board’s collaborative efforts in promoting Thailand as a must-visit destination. By leveraging Wego’s extensive reach and innovative marketing capabilities, the partnership aims to further elevate Thailand’s profile and attract more travelers to experience the magic of the Land of Smiles.
“We are thrilled to continue our partnership with Wego for the fourth campaign,” said Mr. Chaiwat Tamthai, Director of TAT Dubai office. “Thailand offers an unparalleled travel experience, from its stunning beaches and vibrant cities to its rich cultural heritage. Through our collaboration with Wego, we are excited to showcase the beauty of Thailand to travelers in the MENA region and invite them to discover the wonders of our country.”
As travelers seek unforgettable experiences and breathtaking landscapes, Wego and the Tourism Authority of Thailand are committed to showcasing Thailand’s unique charm and allure, inviting travelers to embark on an unforgettable journey to this enchanting destination.
About Wego
Wego provides award-winning travel search websites and top-ranked mobile apps for travelers living in the Asia Pacific and the Middle East regions. Wego harnesses powerful yet simple to use technology that automates the process of searching and comparing results from hundreds of airlines, hotels, and online travel agency websites.
Wego presents an unbiased comparison of all travel products and prices offered in the marketplace by merchants, both local and global, and enables shoppers to quickly find the best deal and place to book whether it is from an airline or hotel directly or with a third-party aggregator website.
Wego was founded in 2005 and is dual headquartered in Dubai and Singapore with regional operations in Bangalore, Riyadh, Cairo, Lahore, and Kuala Lumpur.
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Artificial Intelligence
Building Energy Management Systems Market Projected to Reach $67.69 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 24, 2024 /PRNewswire/ — The report titled “Building Energy Management Systems Market by Component (Hardware, Services, Software), Type (Integrated Building Energy Management Systems, Standalone Building Energy Management Systems), Application, Deployment Mode, End-Use – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $34.52 billion in 2023 to reach $67.69 billion by 2030, at a CAGR of 10.09% over the forecast period.
“Revolutionizing Energy Efficiency Globally With The Evolution of Building Energy Management Systems (BEMS)”
In an era where energy conservation and efficiency have become paramount, building energy management systems (BEMS) are at the forefront of this transformation, offering solutions that monitor, control, and optimize energy usage within buildings. These advanced systems, leveraging real-time data analytics, automate energy control, enhance energy savings, reduce costs, and contribute to a greener planet. Primarily utilized in commercial spaces, residential areas, and industrial sectors, BEMS has a broad application scope, covering HVAC, lighting, and security systems. Factors driving the expansion of the BEMS market include escalating energy expenses, heightened awareness of environmental impacts, and the increasing incorporation of Internet of Things (IoT) and cloud-based technologies, coupled with supportive government initiatives promoting energy-efficient infrastructures. Although challenges such as high initial costs and technology integration barriers exist, the advent of AI and IoT technologies within BEMS heralds a future of predictive energy management and remote operational capabilities, with a growing emphasis on integrating renewable energy sources. Regions such as the United States, Canada, the European Union, and emerging economies such as China and India are witnessing significant growth in BEMS adoption, spurred by regulatory policies and a shift towards sustainable building practices. This global movement toward BEMS signals a step toward reducing carbon footprints and highlights the collective effort to embrace technology for a sustainable future.
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“Harnessing Energy Management for Sustainability and Efficiency”
Data centers are pivotal infrastructures in the digital transformation era, consuming up to 50 times more energy than typical commercial spaces. This energy demand positions data centers as key contributors to the U.S.’s overall electricity consumption. Recognizing this, implementing building energy management systems (BEMS) is crucial in mitigating the environmental impact and operational costs associated with data centers. BEMS optimizes cooling systems to prevent equipment overheating, thereby enhancing energy efficiency by leveraging real-time data. Such systems reduce the power usage effectiveness (PUE) ratio, highlighting a move toward more sustainable consumption patterns and ensuring data centers’ operational continuity. Integrating seamlessly with existing infrastructure, BEMS offers a comprehensive approach to energy management, enabling more innovative cooling, efficient power usage, and predictive maintenance. This transition highlights a commitment to environmental responsibility and fosters operational efficiency, setting a new standard for data center operations worldwide.
“Revolutionizing Building Efficiency With Advanced Energy Management Systems Optimized Usage”
In push toward sustainability, building energy management systems (BEMS) stands at the forefront of innovation, integrating sophisticated hardware such as sensors, actuators, controllers, and more to manage and reduce energy consumption in buildings meticulously. These systems work in concert to monitor environmental conditions and adjust heating, ventilation, and air conditioning (HVAC) settings in real time, leading to significant energy savings. BEMS provides valuable data that helps identify savings opportunities, while networking tools ensure seamless communication between devices by precisely tracking energy flow through meters. Servers process vast amounts of data, enabling detailed analysis and actionable insights to refine energy use further. Additionally, comprehensive services, including customized consultations and dedicated support, ensure that each BEMS is tailored to a building’s unique needs, providing efficient operation and extended system longevity. BEMS exemplifies the strategic shift toward more sustainable and operationally excellent building management through the collaborative synergy of hardware, software, and expert services.
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“Schneider Electric SE at the Forefront of Building Energy Management Systems Market with a Strong 13.97% Market Share”
The key players in the Building Energy Management Systems Market include Schneider Electric SE, Honeywell International Inc., Azbil Corporation, Emerson Electric Co., Johnson Controls International PLC, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Building Energy Management Systems Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Building Energy Management Systems Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Building Energy Management Systems Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/building-energy-management-systems
“Dive into the Building Energy Management Systems Market Landscape: Explore 180 Pages of Insights, 566 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsBuilding Energy Management Systems Market, by ComponentBuilding Energy Management Systems Market, by TypeBuilding Energy Management Systems Market, by ApplicationBuilding Energy Management Systems Market, by Deployment ModeBuilding Energy Management Systems Market, by End-UseAmericas Building Energy Management Systems MarketAsia-Pacific Building Energy Management Systems MarketEurope, Middle East & Africa Building Energy Management Systems MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
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Home Energy Management System Market – Global Forecast 2024-2030Energy Management System Market – Global Forecast 2024-2030Intelligent Building Automation Technologies Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
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Artificial Intelligence
Terra Drone, Unifly, and Aloft Launch UTM Development for AAM Targeting Global Markets
TOKYO, April 25, 2024 /PRNewswire/ — Terra Drone Corporation, a leading drone and Advanced Air Mobility (AAM) technology provider headquartered in Japan, announced today the launch of joint development with its Group companies Unifly NV (“Unifly”) and Aloft Technologies Inc. (“Aloft”) focused on UAS Traffic Management (UTM) for AAMs targeting global markets. Terra Drone has been making strides in its pioneering UTM business via strategic investments in Unifly, a leading UTM technology provider based in Belgium, and Aloft, which has the top UTM market share in the U.S. This collaboration marks the world’s first-ever joint UTM development for AAMs by multiple companies with extensive track records in UTM implementation and operation.
The three companies pursue joint UTM development to capitalize on the rapid global progress in electric vertical take-off and landing aircrafts (eVTOLs), set to revolutionize transportation. Morgan Stanley forecasts the Urban Air Mobility (UAM) market to reach $1 trillion by 2040 and $9 trillion by 2050 (1), with eVTOLs gaining global recognition through test flights and prototype showcases.
The companies proudly announce initiatives to enhance their existing UTM platforms in anticipation of the surge in eVTOL aircraft and drone activities. The shared vision for the UTM platform is to enable safe and efficient flight operations for eVTOLs and drones in the foreseeable future.
Recognizing the evolving needs of the AAM industry, they are dedicated to extending their platform by incorporating crucial additional functions. These enhancements, designed with automation at their core, aim to streamline operational efficiencies and pave the way for the integration of their increasingly automated UTM technology into the design and operational framework of AAMs. Through these efforts, they aim to set new standards in UTM and to facilitate the seamless integration of eVTOLs and drones into the national airspace, bolstering the potential for the AAM industry.
Through this initiative, they aim to build a global UTM infrastructure that kickstarts the AAM industry worldwide, creating a cohesive ecosystem that supports AAM growth and addresses broader challenges of urban mobility, sustainability, and air traffic safety.
Notes to Editor:
Research by Morgan Stanley in a report titled “eVTOL/Urban Air Mobility TAM Update: A Slow Take-Off, But Sky’s the Limit” https://advisor.morganstanley.com/the-busot-group/documents/field/b/bu/busot-group/Electric%20Vehicles.pdf]
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