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High fat powder Market to Reach $190.3 billion Globally, by 2032 at 8.5% CAGR: Allied Market Research

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Allied Market Research published a report, titled, “High Fat Powder Market by Type (Coconut Milk Powder, Butter Powder, Cream Powder, Olive Oil Powder, Powdered Cheese, Whole Milk Powder, Others), by Application (Ice cream mixes, Bakery mixes, Confectionery mixes, Meal concentrates), by Distribution Channel (Hypermarkets, Specialty Stores, E-Commerce, Business to business): Global Opportunity Analysis and Industry Forecast, 2023-2032. According to the report, the High fat powder Market was valued for $86.9 billion in 2022 and is estimated to reach $190.3 billion by 2032, exhibiting a CAGR of 8.5% from 2023 to 2032.

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Prime determinants of growth

The high fat powder market has experienced a notable surge in demand, driven in large part by the increase in need for sports nutrition of athletes. Athletes and fitness enthusiasts have turned to high fat powders as a valuable dietary supplement as they seek to optimize their performance and recovery. However, rise in health concerns among individuals has restrained the market growth. There is a growth in awareness of the potential adverse effects of excessive fat consumption on health, such as obesity, cardiovascular diseases, and diabetes as consumers become more health conscious. The high fat powder market presents a promising opportunity for growth and innovation in the food and beverage industry. High fat powders offer a versatile solution as consumers increasingly seek both indulgence and health-conscious options.

Report coverage & details:

Report Coverage

Details

Forecast Period

2022–2032

Base Year

2022

Market Size in 2022

$86.9 billion 

Market Size in 2032

$190.3 billion 

CAGR

8.5 %

No. of Pages in Report

300

Segments covered

Type, application, distribution channel and region. 

Drivers

  •  Significant benefits of high fat powder
  •  Increase in demand for bakery and beverage products

Opportunities

  •  Plant-based and vegan products

Restraints

  •  Rise in health concerns among individuals

The others segment to maintain its leadership status throughout the forecast period

On the basis of type, the others segment held the highest market share in 2022, accounting for more than one-fifth of the global high fat powder market revenue, and is estimated to maintain its leadership status during the forecast period. High fat powder trends have evolved to meet changing consumer preferences and dietary needs. There is a growth in interest in plant-based high fat powders, beyond traditional dairy-based options, catering to vegan and lactose-intolerant consumers.

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However, the coconut milk powder segment is the fastest-growing segment and is projected to manifest the highest CAGR of 11.7% from 2023 to 2032. coconut milk powder has experienced a surge in demand driven by several key market trends, growth factors, and abundant opportunities. First, the rise in consumer preference for plant-based and dairy-free alternatives has propelled the popularity of coconut milk powder as a versatile ingredient in various culinary applications.

The liquid segment to maintain its lead position throughout the forecast period

On the basis of application, the meal concentrates segment held the highest market share in 2022, accounting for more than one-fifth of the global high fat powder market revenue and is estimated to maintain its leadership status during the forecast period. In the market for high fat powder, a notable trend is the increase in demand for high fat powder in meal concentrates. Meal concentrates have gained popularity as convenient, on-the-go meal solutions.

The bakery mix segment is the fastest-growing segment and is projected to manifest the highest CAGR of 11.5% from 2023 to 2032. Key market trends in high fat powder for bakery cream mixes include a growth in demand for plant-based options to cater to vegan and lactose-intolerant consumers. Health-conscious consumers have sought cleaner label products with minimal processing and healthier fat sources.

The business-to-business segment maintained its lead position throughout the forecast period.

On the basis of distribution channel, the B2B segment held the highest market share in 2022, accounting for more than half of the global high fat powder market revenue, and is estimated to maintain its leadership status during the forecast period. The major factor driving the growth of the business-to-business high fat powder sales is the rise in outdoor dining trends among consumers. There is a rise in the consumption of food outside the house as disposable income is on the rise, owing to which the demand for high fat powder is also on rise QSR such as McDonalds, Dominos, Pizza Hut, and Taco Bell have utilized refrigerated or frozen products in order to provide quick services to its customers.

However, e-commerce segment is the fastest-growing segment and is projected to manifest the highest CAGR of 11.7% from 2023 to 2032. The most popular distribution channel is online sales channel in the current era. People want to save their time and money as they are busy nowadays. So, they opt for online applications or sales channel to buy various products.

North America to maintain its dominance by 2032

On the basis of region, the North America region held the highest market share in 2022, accounting for approx. two fifth of the high fat powder market revenue and is estimated to maintain its leadership status during the forecast period. The demand for high fat powder products is being driven by an increase in the number of gym-going and fitness-conscious people who want to stay healthy and fit. The increase in popularity of “clean label” and “free-from” products has led the way in North America, particularly in the U.S., and is expected to play a significant role in the growth of the sports nutrition market in the future which is expected to foster the overall market growth. However, the Asia-Pacific region is projected to manifest the highest CAGR of 10.3% from 2023 to 2032. In the Asia-Pacific region, the high fat powder market has experienced notable trends. A rise in middle-class population, change in dietary preferences, and urbanization have driven the demand for convenience food, elevating the use of high fat powders in ready-to-eat products.

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Leading Market Players:

  • Barry Callebaut AG
  • Corman SA
  • Kanegrade Limited
  • Glanbia PLC
  • Kerry Group plc
  • Arla Foods amba
  • Lactalis Group
  • Danone S.A.
  • FONTERRA CO-OPERATIVE GROUP LIMITED
  • Darigold, Inc.

The report provides a detailed analysis of these key players in the global High fat powder Market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. 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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Artificial Intelligence

CleverTap launches Clever.AI, the AI-Driven Edge for Customer Engagement & Retention

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Clever.AI will help brands achieve 66% higher conversion rates and 35% boost in operational efficiency
SAN FRANCISCO and MUMBAI, India, May 3, 2024 /PRNewswire/ — CleverTap, one of the leading all-in-one customer engagement and retention platforms, today announced the launch of Clever.AI, its AI engine. With Clever.AI, CleverTap seeks to enable brands with the next generation of AI capabilities required to build human-like understanding of customers and deliver personalized experiences efficiently that resonate with them, ultimately maximizing customer lifetime value.

Clever.AI is built on the foundation of three core AI pillars – Predictive, Generative, and Prescriptive. Clever.AI propels these three pillars to transform the way brands engage with customers and make customer interactions more intelligent, and efficient.
Clever.AI enables brands to become:
Insightful: With Predictive AI capabilities, it forecasts precise business outcomes, helping brands to anticipate customer needs. Clever.AI’s insights are powered by CleverTap’s proprietary TesseractDB™ which ensures data granularity with an extended lookback period, making predictions more accurate, and enabling brands to make informed decisions, resulting in improved marketing ROIEmpathetic: Taking GenAI forward, Clever.AI merges creativity with emotional intelligence, crafting content that resonates on a human level. This empathetic approach helps brands drive higher conversions and engages customers with hyper-personalized experiencesActionable: Leveraging Prescriptive AI capabilities, it provides actionable recommendations to maximize conversions throughout the customer journey by helping brands identify the optimal engagement strategies in real-timePeter Takacs, Digital Product Manager, Burger King said, “I would rate it 10 for its ease of use and numerous possible use cases. We uplifted our marketing campaigns by easily experimenting with multiple possibilities and quickly converging on the optimum one. It opens up a new era of continuous experimentation for us.”
Anand Jain, Co-founder and Chief Product Officer, CleverTap said, “We’re thrilled to unveil Clever.AI, a testament of our pursuit over the last several years in leading the way in adopting the latest tech to transform customer engagement. We will continue to innovate CleverTap’s All-in-One engagement platform with Clever.AI enhancing its precision in predictions, its ability to prescribe intelligent customer experiences strengthened by advanced product analytics and deeper persona profiling to ensure brands can build highly personalized experiences, and campaigns more effectively, ensuring every customer interaction is personalized and outcome driven.”
With Clever.AI, brands have already experienced a boost in conversion with significantly higher operational efficiency. They witnessed a 66 percent increase in conversion rates, 35% boost in operational efficiency and a 3x improvement in click-through rates (CTRs), with an increase across metrics such as purchases, and average order values (AOVs). Moreover, Clever.AI enhanced operational efficiency by simplifying campaign roll-outs, content creation, and experimentation at scale. Clever.AI has helped leading brands like TouchnGo, Swiggy, Burger King add efficiency to their campaigns.
CleverTap will unveil its new AI capabilities through its Spring Release ’24 event slated from 6th May to 9th May, through a series of thought-provoking sessions on how AI can make campaigns more intelligent, efficient, and engaging for brands.
About CleverTap
CleverTap is the all-in-one engagement platform that helps brands unlock limitless customer lifetime value by helping them create personalized experiences to retain their most valuable customers. The platform empowers businesses to orchestrate experiences for individuals across their lifecycles and design personalized journeys that span a lifetime. It offers analytics that encompasses every aspect of the lifecycle, enabling businesses to measure and optimize each experience in real-time. Its unique AI capability is insightful, empathetic, and prescriptive, facilitating smarter and faster decisions. The all-in-one platform unifies experiences from every touchpoint, paving the way for a new era of customer engagement.
The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering both speed and economies of scale.
CleverTap is trusted by 2000 customers, including Electronic Arts, TiltingPoint, Gamebasics, Big Fish, MobilityWare, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco.
Backed by leading investors such as Peak XV Partners, Tiger Global, Accel, CDPQ, and 360 One, the company is headquartered in San Francisco, California, with presence in New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Delhi, Singapore, Jakarta, and Ho Chi Minh.
For more information, visit clevertap.com or follow us on: LinkedIn: https://www.linkedin.com/company/clevertap/X: https://twitter.com/CleverTap
Forward-Looking Statements
Some of the statements in this press release may represent CleverTap’s belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.
Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.
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Artificial Intelligence

Appian Named a Leader in the 2024 Gartner® Magic Quadrant™ for Process Mining Platforms Report

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LONDON, May 3, 2024 /PRNewswire/ — Appian (Nasdaq: APPN) today announced it has been named a Leader by Gartner in its 2024 Magic Quadrant for Process Mining Platforms report. The report evaluated 18 vendors and their product offerings. For more information, download a complimentary copy of the Gartner Process Mining 2024 report. 

Gartner defines Process Mining platforms as tools that deliver visibility and insights to technology innovation leaders that enable smart decision making and strong performance on an organisation’s critical priorities. Features that make Appian a leader in Process Mining, include:
Faster data prep that eliminates complex transformation with always-ready data from multiple sources.Automated process analysis and intelligent recommendations for where and how to take action.A low-code experience for measuring, monitoring, and optimising process performance—all within one platform.”We believe that Appian’s recognition in the Gartner Process Mining Platforms Magic Quadrant underscores our dedication to process excellence. Through Process HQ, we integrate data fabric, process mining, machine learning, and generative AI to streamline manual data prep, enabling businesses to gain insights swiftly and implement improvements easily,” said Michael Beckley, CTO and Founder of Appian. “Our unified approach merges Process Mining with AI-driven process automation, setting a new standard for efficiency and intelligence.”
Business users need greater visibility into the full breadth of their enterprise data and processes in order to maximise operational efficiency and strategic decision-making. By combining the latest technologies in data fabric, process mining, machine learning, and generative AI, Process HQ helps monitor and improve every business process built on Appian. Process HQ makes it easy to reduce costs, risks, and delays, improve compliance, and drive better business outcomes, without the need for costly and time-consuming data collection efforts.
Appian is now an industry leader across its value proposition to Design, Automate, and Optimise the most complex business processes. In addition to today’s announcement, Appian was named a Leader in the 2023 Gartner® Magic Quadrant™ for Enterprise Low-Code Application Platforms report, and was ranked #1 for the Business Workflow Automation with Integration Use Case in the 2023 Gartner® Critical Capabilities for Enterprise Low-Code Application Platforms (LCAP) report.
To access the report and to learn more about Appian’s positioning, visit https://ap.pn/3y2ClZy. Register for our upcoming webinar Process Intelligence Made Easy: The Key to Better Business Decisions on June 20, 2024 at 12pm EST to discover how Process HQ can improve business processes.
Gartner disclaimerGartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organisation and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
About Appian
Appian is a software company that automates business processes. The Appian AI Process Platform includes everything you need to design, automate, and optimise even the most complex processes, from start to finish. The world’s most innovative organisations trust Appian to improve their workflows, unify data, and optimise operations—resulting in better growth and superior customer experiences. For more information, visit appian.com. [Nasdaq: APPN]
Follow Appian: LinkedIn, X, and X (UK).
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Artificial Intelligence

Innodisk Introduces iCAP Air: Advancing Air Quality Management through Autonomous Decision-Making

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TAIPEI, May 3, 2024 /PRNewswire/ — Innodisk, a global leader in AI solutions, has taken a pivotal step forward in environmental sustainability with the launch of its latest innovation, the “iCAP Air” air quality management solution. This solution empowers businesses worldwide to enhance air quality, sustainability, and human health. Additionally, business can benefit from monthly AI-generated air quality data report, providing valuable insights for informed decision-making.

Leveraging its expertise in edge computing and software and hardware integration, along with the expertise of its subsidiary Sysinno in air quality detection, Innodisk has achieved the development of the “iCAP Air” air quality management solution. This solution integrates advanced technology, including the innovative “iAeris7” air quality detector from Sysinno, to deliver accuracy in detecting temperature, humidity, fine suspended particles (PM2.5), suspended particles (PM10), carbon dioxide (CO2), formaldehyde and total volatile organic compounds (TVOC). It can also be customized to detect NO2, SO2, CO, NH3, and other air factors. At the same time, the iAeris7 device is known for its reliability, patented technology, and various international certifications, including those from SGS and FCC/CE/RoHS/NCC/BSMI.
The solution also includes the “iCAP Air Server,” designed to manage large-scale deployment and data from up to 100 air quality detectors, ensuring seamless integration and efficient operation, even in complex environments. Additionally, iCAP Air provides a user-friendly air quality management platform, enabling organizations to monitor air quality in real-time via a mobile app or internet browser, receive automatic alerts, and optimize air purification or exhaust ventilation system.
iCAP Air is a comprehensive solution that simplifies air quality management for users. It is tailored for medium to large-sized sites or densely populated, enclosed spaces such as medical institutions, smart manufacturing facilities, public transportation hubs, indoor parking facilities, and department stores. Innodisk’s “iCAP Air” air quality management solution represents a milestone for all businesses committed to leveraging technology for the greater good of air quality and society.
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