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Pune, India, March 01, 2023 (GLOBE NEWSWIRE) — The global organic edible oil market size was gauged at USD 2.88 billion in 2022. The market is projected to grow from USD 3.12 billion in 2023 to USD 5.79 billion by 2030, exhibiting a CAGR of 9.23% between 2023-2030 period. Surging demand for organic food ingredients worldwide and their increasing adoption in end-use sectors such as food service and food processing will aid market proliferation. Rising health consciousness, growing income of consumers, and rapid urbanization will contribute to market expansion in the coming years. To cater to this rising demand, leading companies are focusing on enhancing their product portfolio. This information is provided by Fortune Business Insights, in its report titled, “Organic Edible Oil Market, 2023-2030.”
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List of Key Players Mentioned in the Report:
- Cargill Inc. (U.S.)
- Nutiva (U.S.)
- Catania Spagna (U.S.)
- EFKO Group (Russia)
- Aryan International (India)
- Adams Group (Canada)
- Daabon Organic (Australia)
- NOW Foods (U.S.)
- B&G Foods, Inc. (U.S.)
- Viva Naturals (U.S.)
Report Scope & Segmentation:
|2028 Value Projection||USD 5.79 Billion|
|Organic Edible Oil Market Size in 2022||USD 2.88 Billion|
|No. of Pages||223|
|Segments Covered||By Type, By Distribution Channel, By Geography|
|Organic Edible Oil Market Growth Drivers||Rising Health Consciousness Among Populace to Aid Market Proliferation|
The report sheds a light on drivers, challenges, opportunities, and threats affecting market trends over the forecast timeframe. Moreover, it studies the market at both micro and macro levels by splitting it into regions and segments. Crucial information pertaining to market share, growth rate, valuation, and sales of each region and segment are also provided. Latest updates regarding partnerships, collaborations, and mergers & acquisitions undertaken by industry leaders are also provided.
Browse In-depth Summary of This Research Insight:
Soybean Oil Segment to Lead Backed by its Abundant Availability
Based on type, the market is split into palm oil, soybean oil, rapeseed oil, sunflower oil, olive oil, coconut oil, and others. Among these, the soybean oil segment dominated the market owing to the abundant availability of organic soy. Soybean oil contains a high amount of Omega-6 fats and Vitamin K which helps boost bone metabolism. It has a neutral and mild taste which results in its increasing application in baking, frying, and cooking, thus contributing to the growth of the segment.
Supermarkets/Hypermarkets Segment to Dominate Due to Availability of Wide Variety of Products
As per distribution channel, the market is divided into supermarkets/hypermarkets, specialty stores, convenience stores, online retail stores, and others. Among these, the supermarkets/hypermarkets segment captured the largest share. Supermarkets offer a wide variety of brands under one roof and better consumer experience, which makes them the ideal choice among buyers. The emergence of private-label brands and modernization of grocery stores help drive sales of food products from supermarkets, thus contributing to growth of this segment.
Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Drivers and Restraints:
Rising Health Consciousness Among Populace to Aid Market Proliferation
Consumers have become more health conscious after the pandemic and are preferring natural foods over those with artificial additives. Consumer inclination toward leading a healthy lifestyle is also increasing, which is boosting the demand for non-GMO and clean label foods. For the record, clean label products showcase the list of ingredients utilized to produce the final product clearly and mostly do not contain artificial ingredients and additives. Industry leaders in the domain are launching new products to meet the growing demand for clean-labeled, organic, and preservative free foods which will aid market expansion. For example, in March 2020, Nutiva Inc. unveiled a new line of organic avocado oils. The new products were available in three types, Organic MCT Oil Blend Avocado Oil, Organic 100% Pure Avocado Oil, and Organic Extra Virgin Avocado Oil.
On the other hand, the high price of organic edible oil due to their limited supply affects product demand negatively and hampers market proliferation.
North America to Dominate Due to Growing Organic Food Consumption
North America held the largest organic edible oil market share in the recent past owing to rising organic food consumption due to growing health consciousness among the populace. A large number of people believe that organically produced products are healthier than conventionally produced ones. Moreover, the availability of raw materials due to growing area under organic oilseed cultivation in this region will also aid market proliferation.
The Asia Pacific market is slated to grow significantly in the coming years due to easy availability of organic products in supermarkets, growing awareness regarding organic products, and rising earning capacity of populace. Moreover, the growing consumer demand for healthy cooking oils and adoption of new technologies by leading companies to meet rising product demand will aid market growth in this region.
The Europe market is anticipated to record significant growth backed by increased usage of canola oil to make a wide variety of salads and salad dressing. The rising popularity of extra virgin olive oil also contributes to market proliferation. The Mediterranean oil pressed from olives is considered a healthy fat for maintaining a balanced lifestyle. Thus, major consumption of organic olive oil boosts the demand for the product in the region.
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Expansion of Product Portfolio by Leading Players to Facilitate Market Augmentation
Surging demand for organic edible oil without preservatives has encouraged leading players to launch new products and expand their product portfolio. For example, in February 2021, Pompeian, Inc., a company providing a line of olive oil products, expanded its olive oil portfolio by launching new products. The innovation includes Pompeian organic smooth extra virgin olive oil in two varieties, smooth and robust.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Market Overview of Related/Parent Market
- Industry SWOT Analysis
- Recent Industry Developments – Policies, Mergers & Acquisitions, and New Product Launches
- Supply Chain/Value Chain Analysis
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities Due to COVID-19
- Global Organic Edible Oil Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Soybean Oil
- Palm Oil
- Rapeseed Oil
- Sunflower Oil
- Olive Oil
- Coconut Oil
- By Distribution Channel (Value)
- Speciality Stores
- Convenience Stores
- Online Retail Stores
- By Region (Value)
- North America
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
Key Industry Development:
March 2022: Bunge Limited received a long-term loan worth USD 50 million from the European Bank for Reconstruction and Development (EBRD). The EBRD and Bunge joined forces in sustainability projects to increase certified organic olive production in Turkey and study the climate change resilience of the olive supply chain.
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Read Related Insights:
North America Vegetable Oils Market Projected to Reach 32.89 Million Tonnes by 2026; Increasing Demand for Natural and Healthy Edible Oils to Boost Growth, says Fortune Business Insights
Cooking Oil Market to Worth USD 281.72 Billion by (2021-2028) | Cooking Oil Industry CAGR of 4.67%
Organic Foods Market to Hit USD 366.66 Billion by 2029 | At a CAGR of 12.83%
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
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Cisco Doubles Down on Network Assurance with AWS
Cisco delivers seamless integration between ThousandEyes and Amazon CloudWatch Internet Monitor.ThousandEyes’ unmatched cloud and Internet visibility combined with AWS’s Internet health and performance insights will allow a complete view of an application’s entire service delivery path, across private environments, the public Internet and into AWS’s network.Customers benefit from new operational insights and recommendations enabling them to optimize deployments and assure exceptional digital experiences for any AWS-hosted application.LAS VEGAS, Nov. 28, 2023 /PRNewswire/ — AWS re:Invent — Today at AWS re:Invent 2023, Cisco (NASDAQ: CSCO) announced new integrations between Cisco ThousandEyes and Amazon CloudWatch Internet Monitor (CWIM), a new Internet monitoring service from Amazon Web Services (AWS). The first-of-its-kind integration empowers customers with unparalleled visibility into their cloud deployments, enabling them to deliver unmatched optimized digital experiences.
With this new integration, customers can leverage operational insights to ensure optimal placement of AWS instances and monitoring coverage based on user traffic profiles. This integration comes on the heels of ThousandEyes announcing AWS Network Path Enrichment, giving customers deeper visibility into AWS by enriching ThousandEyes Path Visualization with data from AWS data sources—helping customers work more collaboratively with providers to resolve issues that are impacting application performance.
Building upon the existing relationship between AWS and Cisco, the new integration demonstrates Cisco’s deep commitment to its end-to-end network assurance vision. Cisco securely and sustainably connects everyone to everything and assures the digital experience of every one of those connections. By working with AWS, Cisco is delivering on its promise to provide visibility into every domain that impacts digital experience—whether user, enterprise, Internet, or cloud—so it can ultimately provide artificial intelligence (AI)-driven insights, recommendations, and remediations to support the digital transformation of every customer, wherever they are on their journey.
“Since launching one year ago, Amazon CloudWatch Internet Monitor has delivered real-time insights into the traffic and performance of our customers’ AWS VPCs, CloudFront distributions, and Workspaces towards Internet destinations. In-depth Internet visibility is critical to our customers, so we’re excited to combine forces with ThousandEyes to provide a comprehensive view of Internet health.” — Robert Kennedy, VP of AWS Border Network Engineering, AWS
“Connectivity is key to Sutherland’s business model and to our customer interactions. Cloud visibility is a big part of that and with ThousandEyes’ end-to-end visibility all the way from our employees’ home environments to AWS, we’re able to quickly catch and resolve issues which allows us to deliver consistent high-quality application experiences to both our employees and customers.”—Ted Sanfilippo, VP Infrastructure, Head of Global Network Services and GTOC, Sutherland
“Customers today need to assure digital experiences over any network—the ones they own and the ones they don’t. As the leader in Internet visibility, Cisco is on a mission to deliver unmatched, end-to-end network assurance. Today’s integration with AWS demonstrates our shared commitment to empower our customers to more effectively monitor and manage their cloud environments.”— Mohit Lad, Senior Vice President and General Manager, Network Assurance, Cisco, and Co-Founder, ThousandEyes
For more information and live demos visit ThousandEyes at AWS re:Invent at booth #1621. Join our Lightning Talk on the exhibit floor: NET102-S, “Extending ThousandEyes visibility to the AWS network,” November 28 at 3:30 PM – 3:50 PM (PDT)
The Amazon CloudWatch Internet Monitor integration will be available in Cisco ThousandEyes in spring 2024. The ThousandEyes platform is available for purchase today in AWS Marketplace.Additional Resources
ThousandEyes Announcement BlogAWS Marketplace: CiscoCisco at AWS re:Invent 2023Additional Cisco news at AWS re:InventAbout CiscoCisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom and follow us on X at @Cisco. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco’s trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.
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Artificial Neural Network Market to Reach $1.4 Billion by 2032 at 19.9% CAGR: Allied Market Research
The growing demand for AI-based solutions and the rising need for intelligent business processes are expected to drive the global artificial neural network market growth.
NEW CASTLE, Del., Nov. 28, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Artificial Neural Network Market by Component (Solution and Service), Deployment Mode (On-premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises), and Industry (Healthcare, BFSI, Retail and E-commerce, Manufacturing, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2032”. According to the report, the artificial neural network industry generated $227.8 million in 2022 and is anticipated to generate $1.4 billion by 2032, witnessing a CAGR of 19.9% from 2023 to 2032.
Prime determinants of growth
The notable factors positively affecting the artificial neural network market include the growing demand for AI-based solutions and the rising need for intelligent business processes. However, a lack of computational resources and a skilled workforce with expertise in artificial neural network (ANN) can hinder market growth. Furthermore, advancements in big data analytics and the availability of high-performance computing systems offer lucrative market opportunities for the market players.
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Report coverage & details:
Market Size in 2022
Market Size in 2032
No. of Pages in Report
Component, Deployment Mode, Enterprise Size Industry, and Region.
Growing demand for AI-based solutions
The rising need for intelligent business processes
Advancements in big data analytics.
The availability of high-performance computing systems.
A lack of computational resources and a skilled workforce with expertise in artificial neural network (ANN)
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The solution segment to maintain its leadership status throughout the forecast period
Based on component, the solution segment held the highest market share in 2022, accounting for less than two-fifths of the artificial neural network market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the growing need for a high level of personalization which is one of the primary reasons enterprises are increasing their investment in the artificial neural network market. However, the services segment is projected to manifest the highest CAGR of 21.8% from 2023 to 2032. The services segment is expected to witness the highest growth, as these services help to reduce the time and costs associated with optimizing systems in the initial phase of deployment.
The on-premise segment to maintain its lead position during the forecast period
Based on deployment mode, the on-premise segment accounted for the largest share in 2022, contributing for more than one-fourth of the artificial neural network market revenue. An increase in the need for secure and reliable data within the organization is fueling the market growth for on-premises-based artificial neural network solutions. However, the cloud segment is expected to portray the largest CAGR of 21.2% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides several advantages such as reducing costs, supporting business, and effectively controlling the business environment in the organization.
The large enterprises segment to maintain its lead position during the forecast period
Based on enterprise size, the large enterprises segment accounted for the largest share in 2022, contributing for more than one-fourth of the artificial neural network market revenue, owing to the growing demand for artificial neural network solutions in large enterprises which is fueling the market growth in these enterprises. However, the small and medium-sized enterprises segment is expected to portray the largest CAGR of 22.2% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides various benefits to the small and medium-sized enterprises organization.
The healthcare segment to maintain its lead position during the forecast period
Based on industry vertical, the healthcare segment accounted for the largest share in 2022, contributing for less than two-fifths of the artificial neural network market revenue, owing to the development of digital technologies in IT sector. However, the manufacturing segment is projected to manifest the highest CAGR of 24.3% from 2023 to 2032. The surge in implementation of automation trends and the increase in utilization of digital technology in this sector are expected to provide lucrative opportunities for the market.
North America region dominated the global artificial neural network market in 2022
Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the artificial neural network market revenue. The increase in the usage of artificial neural network solutions in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, the Asia-Pacific segment is projected to manifest the highest CAGR of 21.8% from 2023 to 2032. Countries such as China, India, and South Korea are at the forefront, embracing digital technologies to enhance their effectiveness and competitiveness, which is further expected to contribute to the growth of the market in this region.
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Recent Product launches in the Artificial Neural Network Market
In April 2023, Google LLC launched a cloud-based automation toolkit for healthcare organizations and previewed Med-PaLM 2, a neural network capable of answering medical exam questions.In August 2021, IBM Corporation unveiled details of the upcoming new IBM Telum Processor designed to bring deep learning inference to enterprise workloads to help address fraud in real-time..Recent Partnerships in the Artificial Neural Network Market
In June 2023, Snowflake partnered with Microsoft to simplify joint customers’ artificial intelligence projects. A core focus of the collaboration is Microsoft’s Azure OpenAI Service. It provides cloud-based versions of OpenAI LP’s machine learning models, including GPT-4.In November 2021, Qualcomm Technologies partnered with Google Cloud, on Neural Architecture Search (NAS), enabling the companies to create and optimize AI models automatically rather than manually.Leading Market Players: –
Amazon Web Services Inc. Google Inc. Hewlett Packard Enterprise Development LP IBM Corporation Intel Corporation Microsoft Corporation NVIDIA Corporation Oracle Corporation Qualcomm Technologies Inc. Salesforce Inc.The report provides a detailed analysis of these key players in the artificial neural network market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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New process definition capabilities in PIMS further enhance quality assurance and “right -first-time” initiatives for pharma manufacturers
WOKING, England, Nov. 28, 2023 /PRNewswire/ — IDBS unveils new process definition templates in its latest release, PIMS 5.1. Process definition templates enable pharma manufacturers to template process steps and quality specifications for faster process definition set-up and improved harmonization across the manufacturing teams to further enhance quality assurance (QA) and “right-first-time” initiatives.
Providing contextualized access to aggregated manufacturing data, PIMS offers a single source of data truth for efficient gathering, sharing and analysis of critical manufacturing process and quality data to support continued process verification (CPV), investigations and process optimization.
This release builds on recent PIMS’ process definition enhancements that added process definition versioning and approvals to help alleviate manual standard operating procedure (SOP) requirements and enhance QA for a more robust GxP environment.
PIMS’ customers report that these standardized process definition templates will reduce their manual process definition set-up and enable easy, harmonized site and product comparisons.
“Our customers recognize the value of being able to trace their process data over time, not only for tech transfer but also to help them learn from their historical data and optimize future process development,” says Pietro Forgione, General Manager at IDBS. “Having their critical process data in PIMS already gives them the assurance of data integrity and these new enhancements now make it even easier to complete QA and validation steps and move them closer to ‘right-first-time’ manufacturing.”
To learn more, register for the December 6 webinar here.
IDBS helps BioPharmaceutical organizations accelerate the discovery, development and manufacturing of the next generation of life-changing therapies that advance human health worldwide. From lab through manufacturing, IDBS leverages its 30+ years of experience working with a diverse list of customers – including 18 of the top 20 global BioPharma companies – and deep expertise in scientific informatics and process data management to tackle today’s most complex challenges.
Known for its signature IDBS E-WorkBook product, IDBS has extended solutions across the entire value chain for BioPharma Lifecycle Management (BPLM). Built on analytics-centric and cloud-native technology, IDBS Polar and Skyland PIMS platforms are powered by a digital data backbone to drive faster and smarter decisions in drug development and across the supply chain.
Learn more at idbs.com.
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