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Meticulous Research®—a leading global market research company, published a research report titled, ‘Speech-to-text API Market by Offering (Solutions, Services), Deployment Mode, Organization Size, Application (Transcription, Customer Experience & Analytics, Subtitle & Caption Generation), End User (B2B, B2C, B2G, G2C), Geography – Global Forecast to 2030’.
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According to this latest publication from Meticulous Research®, the speech-to-text API market is projected to reach $10 billion by 2030, at a CAGR of 17.3% from 2023 to 2030. The growth of this market is driven by the proliferation of voice-enabled devices, the increasing use of voice & speech technologies for transcription, and technological advancements, coupled with the rising adoption of connected devices. However, speech-to-text API solutions’ lack of accuracy in regional accent & dialect recognition restrains the growth of this market.

Innovations in speech-to-text solutions for especially abled people and the development of speech-to-text API solutions for rare & local languages are expected to create growth opportunities for the players operating in this market. However, data security & privacy concerns are a major challenge for market growth. Additionally, the growing demand for voice authentication in mobile banking applications is a prominent trend in the speech-to-text API market.

The speech-to-text API market is segmented by offering, deployment mode, organization size, application, and end user. The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on offering, the speech-to-text API market is segmented into solutions and services. In 2023, the solutions segment is expected to account for the larger share of the speech-to-text API market. The large market share of this segment is attributed to the rising adoption of advanced electronic devices, increasing demand for voice-enabled devices, and the growing use of speech technology for transcription. However, this segment is also projected to record the higher CAGR during the forecast period.

Based on deployment mode, the speech-to-text API market is segmented into on-premises deployment and cloud-based deployment. In 2023, the cloud-based deployment segment is expected to account for the larger share of the speech-to-text API market. The adoption of cloud computing and storage systems is gaining popularity among small and medium-sized enterprises. Several organizations are gradually transitioning to cloud infrastructure, a trend that is expected to grow in the coming years. These factors contribute to the large market share of this segment.

The cloud-based segment is also projected to record the higher CAGR during the forecast period. The benefits offered by cloud infrastructure, such as the ease of adoption, the minimal requirement for in-house infrastructure, high scalability, and easy installation of speech-to-text API solutions, support the growth of this segment.

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Based on organization size, the speech-to-text API market is segmented into large enterprises and small & medium-sized enterprises. In 2023, the small and medium-sized enterprises segment is expected to account for the larger share of the speech-to-text API market. The large market share of this segment is attributed to the rising awareness among small and medium-sized enterprises about the significance of speech-to-text API. The small & medium-sized enterprises segment is also projected to register the higher CAGR during the forecast period.

Based on application, the speech-to-text API market is segmented into transcription, customer experience & analytics, media & communications monitoring, subtitle & caption generation, consumer electronics command & control, automotive command & control, and other applications. In 2023, the transcription segment is expected to account for the largest share of the speech-to-text API market. The large market share of this segment is attributed to technological advancements, increasing speech and voice technology usability for transcription and the rising adoption of advanced electronic devices. However, the subtitle & caption generation segment is projected to record the highest CAGR during the forecast period.

Based on end user, the speech-to-text API market is segmented into B2B, B2C, B2G and G2C. The B2B segment is further subsegmented into IT & Telecommunications, BFSI, media & entertainment, healthcare, education, and other B2B end users. In 2023, the IT & Telecommunications segment is expected to account for the largest share of the speech-to-text API market. The large market share of this segment is attributed to organizations' rising adoption of speech-to-text solutions in their call centers to analyze business conversations. However, the healthcare segment is projected to record the highest CAGR during the forecast period.

Based on geography, the speech-to-text API market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the speech-to-text API market. North America’s major market share is attributed to the rising integration of speech and voice recognition technology in consumer electronics, the easy availability of several voice-enabled smart devices, and the high adoption rate of advanced technologies in the region. However, Asia-Pacific is slated to register the highest CAGR during the forecast period.
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Key Players:

The key players operating in the speech-to-text API market are Google LLC (U.S.), Microsoft Corporation (U.S.), Amazon Web Services, Inc. (U.S.), IBM Corporation (U.S.), Verint Systems Inc. (U.S.), Rev.com, Inc. (U.S.), Twilio Inc. (U.S.), Baidu, Inc. (China), Speechmatics (U.K.), VoiceCloud (U.S.), VoiceBase, Inc. (U.S.), Amberscript Global B.V. (Netherlands), Voci Technologies, Inc. (U.S.), AssemblyAI, Inc. (U.S.), and Vocapia Research SAS (France).

Key questions answered in the report-

Which are the high-growth market segments based on offering, deployment mode, organization size, application, and end user?
What was the historical market for speech-to-text API?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, and opportunities in the speech-to-text API market?
Who are the major players, and what shares do they hold in the speech-to-text API market?
How is the competitive landscape in the speech-to-text API market?
What are the recent developments in the speech-to-text API market?
What are the different strategies adopted by the major players in the speech-to-text API market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the speech-to-text API market, and how do they compete with major market players?

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According to a new market research report titled, ‘‘E-commerce Market by Business Model, Browsing Medium, Payment Mode (Card Payments, Digital Wallets, Bank Transfer), Operational Channel, offering (Beauty & Fashion, Food & Beverage, Electronic, Household) – Global Forecast to 2030,’ the E-commerce market is projected to reach $21,168.6 billion by 2030, at a CAGR of 16.9% during the forecast period 2023–2030.
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E-commerce is not a new term for consumers across the world. E-commerce enables businesses to reach a wider customer base, including customers in different geographical locations, which can lead to increased sales and revenue. Shopping from home, discounts and offers extended by brands and E-commerce platforms, and multiple payment options have helped the E-commerce market. E-commerce provides numerous benefits to businesses, including increased reach, lower operating costs, 24/7 availability, personalization, faster transactions, data analytics, and increased efficiency. These benefits can result in increased sales and revenue, improved customer satisfaction and loyalty, and a competitive advantage in the marketplace.

However, during the COVID-19 pandemic, many market players were not ready to deliver under such tremendous pressure, affecting the overall market growth. In this research, all recent dynamics associated with E-commerce were thoroughly analysed to precisely estimate the future of the E-commerce market. This study also includes profiling key E-commerce stakeholders and segmenting them based on their market standing.

Based on business model, in 2023, the horizontal E-commerce segment is expected to account for the larger share of the E-commerce market. The horizontal E-commerce model caters to a diverse product category and hence enjoys a large section of consumers and high sales, contributing to the high share of the segment. Horizontal e-commerce platforms often use a marketplace model, where third-party sellers can also list and sell their products on the platform. This allows for even greater product variety and selection, as well as increased competition and potentially lower prices for customers.

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However, the vertical E-commerce model is projected to register the highest CAGR during the forecast period. The vertical E-commerce model allows businesses to offer customers a specialized and tailored shopping experience within a specific product category or industry. By focusing on a specific niche, businesses can differentiate themselves from larger, more generalized e-commerce platforms and establish a strong brand identity.

Based on browsing medium, in 2023, the desktop/laptop segment is expected to account for the larger share of the E-commerce market. However, the mobile/tablet segment is expected to grow with the fastest growth rate over the forecast period. Mobile devices are becoming increasingly popular for E-commerce, and businesses need to optimize their websites for desktop and mobile platforms to ensure a seamless customer experience. Mobile and tablet devices have significantly impacted E-commerce, providing customers with greater accessibility and convenience, improving user experience, enabling new payment options, location-based services, social media integration, and driving business sales growth.

Based on payment mode, in 2023, the card payments segment is expected to account for the largest share of the E-commerce market. However, the digital wallets segment is projected to register the highest CAGR during the forecast period. Digital wallets have significantly impacted E-commerce, providing a convenient, secure, and fast payment method, enabling mobile payments, loyalty programs, and improving the overall user experience for customers. As a result, more and more E-commerce businesses are integrating digital wallet payment options to provide their customers with greater convenience and security.

Based on operational channel, in 2023, the omni-channel E-commerce segment is expected to account for the larger share of the E-commerce market. The large market share of this segment is attributed to the increased customer experience, increased sales, and consumer traffic, boosting customer loyalty, and better data collection for optimum customer and resource management. Also, this segment is projected to register the highest CAGR during the forecast period.

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Based on offering, in 2023, the beauty & fashion products segment is expected to account for the largest share of the E-commerce market. The large market share of this segment is attributed to the rapidly changing customer behavior and preference towards online shopping, the high demand for cosmetics and clothing, and the rising popularity of mobile wallets. Besides, the increasing use of smartphones, incorporation of advanced technologies in online platforms, and various beauty & fashion goods available for comparison on E-commerce platforms further augment this segment's growth. Also, this segment is projected to register the highest CAGR during the forecast period. E-commerce has significantly impacted the beauty and fashion industry, providing brands with a global reach, offering a personalized and convenient shopping experience, driving innovation and competition, and providing customers with access to valuable reviews and feedback.

Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the global E-commerce market. Large consumer groups, growing penetration of smartphones and the Internet, and rising disposable income have helped the region emerge as the largest E-commerce market. Also, this region is projected to register the highest CAGR during the forecast period.

Some of the key players operating in the E-commerce market are Amazon.com, Inc. (U.S.), Alibaba Group Holding Limited (China), eBay Inc. (U.S.), JD.com, Inc. (Jingdong) (China), Rakuten, Inc. (Japan), The Home Depot, Inc. (U.S.), Zalando SE (Germany), Otto GmbH & Co KG (Germany), Priceline.com (U.S.), B2W Digital Company (Brazil), Groupon, Inc. (U.S.), Walmart Inc. (U.S.), Inter IKEA Systems B.V. (Netherlands), Costco Wholesale Corporation (U.S.), Shopify Inc. (Canada), Wayfair Inc. (U.S.), Suning.com Co., Ltd. (Suning Commerce Group Co., Ltd.) (China), Best Buy Co., Inc. (U.S.), and Tesco plc (U.K.).

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According to a new market research report titled, ‘3D Food Printing Market by Offering, Printing Method (Layer-by-layer, Mold-based), Printing Technology (Extrusion, Powder Binding Deposition), Ingredient Form (Pastes and Purees, Powdered Ingredients), End User, and Geography – Global Forecast to 2030’, the 3D food printing market is expected to reach $11.3 billion by 2030, at a CAGR of 50.2% from 2023 to 2030.

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3D printing is a technique used to manufacture three-dimensional objects with high accuracy and quality finishing. A 3D food printer comprises a food-grade syringe or cartridge that holds material (a food ingredient in a puree/mash/powder form) and deposits exact fractional layers through a food-grade nozzle directly onto a plate or platform in a layer-by-layer (additive) manner or through a mold-based method wherein 3D printing food machines are used to shape dough using a hollow container or molding box.
The growth of the 3D food printing market is driven by the rising demand for gourmet food and the increasing use of 3D printing technology to produce plant-based meat alternatives and reduce food wastage.

However, the long processing times required to 3D print food products and the lack of flavor and texture compared to traditionally manufactured food products restrain the growth of this market. The growing demand for 3D food printing technology in the food & hospitality industries and increasing research initiatives to develop innovative 3D food printing models are expected to create market growth opportunities. However, limitations in ingredient processing and consumers’ higher preference for traditionally manufactured food products are major challenges for the players operating in the 3D food printing market.

The 3D food printing market is segmented based on offering (machines & accessories, software, and services), printing method (layer-by-layer and mold-based), printing technology (extrusion {soft-materials extrusion, melting extrusion, and hydrogel-forming extrusion}, powder binding deposition {selective laser sintering, liquid binding, and selective hot air sintering and melting} inkjet printing, and bio-printing), ingredient form (pastes and purees {dough, puree, jelly & frosting, mashed fruits & vegetables, cheese, and other pastes and purees}, powdered ingredients {sugar, chocolate powder, protein powder, flour, and other powdered ingredients}, and cells), end user (restaurants {QSR/fast food restaurants, casual dining restaurants, cafes, and fine dining/gourmet restaurants}, big-scale catering, bakeries & confectionaries, and other end users), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on offering, the 3D food printing market is segmented into machines & accessories, software, and services. In 2023, the machines & accessories segment is expected to account for the largest share of the 3D food printing market. The large market share of this segment is attributed to the wide usage of 3D printing technology in food industries for personalized nutrition, automated cooking, and reduction in food wastage, among other applications. Additionally, this segment is slated to register the highest CAGR during the forecast period.

Based on printing method, the 3D food printing market is segmented into layer-by-layer and mold-based. In 2023, the layer-by-layer segment is expected to account for the larger share of the 3D food printing market. The large market share of this segment is attributed to the method’s wide usage in different applications and its ability to easily design complex-shaped products and add specific ingredients selected as per customer preferences. Additionally, this segment is slated to register the highest CAGR during the forecast period.

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Based on printing technology, the 3D food printing market is segmented into extrusion, powder binding deposition, inkjet printing, and bio-printing. The extrusion segment is further sub-segmented into soft-materials extrusion, melting extrusion, and hydrogel-forming extrusion. The powder binding deposition segment is further sub-segmented into selective laser sintering, liquid binding, and selective hot air sintering and melting. In 2023, the extrusion segment is expected to account for the largest share of the 3D food printing market. The large market share of this segment is attributed to the technology’s ability to achieve the output of conventional food extrusion processing physically with digitalized designs and personalized nutrition control. Also, extrusion is a digitally controlled, robotic construction process that can produce complex-shaped 3D food products. However, the powder binding deposition segment is projected to register the highest CAGR during the forecast period.

Based on ingredient form, the 3D food printing market is segmented into pastes and purees, powdered ingredients, and cells. The pastes and purees segment is further sub-segmented into dough, puree, jelly & frosting, mashed fruits & vegetables, cheese, and other pastes and purees. The powdered ingredients segment is further sub-segmented into sugar, chocolate powder, protein powder, flour, and other powdered ingredients. In 2023, the pastes and purees segment is expected to account for the largest share of the 3D food printing market. The large market share of this segment is attributed to the ingredients’ structural properties and easy usage with 3D food printing technologies. Also, the increasing demand for customized paste and puree-based products supports the segment’s large share. However, the powdered ingredients segment is projected to register the highest CAGR during the forecast period.

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Based on end user, the 3D food printing market is segmented into restaurants, big-scale catering, bakeries & confectionaries, and other end users. The restaurants segment is further sub-segmented into QSR/fast food restaurants, casual dining restaurants, cafes, and fine dining/gourmet restaurants. In 2023, the bakeries & confectionaries segment is expected to account for the largest share of the 3D food printing market. The large market share of this segment is attributed to the increasing demand for personalized meals and luxury dining and the rising consumption of plant-based meat products across the globe. However, the restaurants segment is projected to register the highest CAGR during the forecast period.

Based on geography, the 3D food printing market is segmented into North America, Europe, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the 3D food printing market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The major factor driving the market's growth in North America is the increasing technological progress in all aspects of food technology, rapidly rising awareness regarding 3D-printed and plant-based meat products, and the increasing demand for vegan alternatives to meat products.

The report also includes an extensive assessment of the key growth strategies adopted by the leading market participants between 2020 and 2023. The key players operating in the 3D food printing market are 3D Systems Corporation (U.S.), TNO (Netherlands), Natural Machines (Spain), Wiiboox (China), byFlow B.V. (Netherlands), Dovetailed (U.K.), PancakeBot (U.S.), BeeHex, LLC (U.S.), Print4Taste GmbH (Germany), and Changxing Shiyin Technology Co., Ltd. (China).

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Speech Analytics is the process of extracting meaningful insights from audio recordings and analyzing that data for relevant and meaningful business intelligence. The key applications of speech analytics include customer experience management, call monitoring and summarization, sales and marketing management, risk and compliance management, sentiment analysis, and fraud detection & security applications. Speech analytics solutions are increasingly gaining traction due to their growing utilization across numerous industries, including contact & call centres, healthcare & life sciences, and media and entertainment.
According to a new market research report titled, ‘Speech Analytics Market by Component, Application, Organization Size, Deployment Mode, End-use Industry (IT & Telecommunication, BFSI, Retail & Consumer Goods, Healthcare & Life Sciences, Business Process Outsourcing)—Global Forecast to 2029’, the global speech analytics market is expected to register a CAGR of 20.1% from 2022 to 2029 to reach $14.1 billion by 2029.

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Based on component, the global speech analytics market is segmented into solutions and services. In 2022, the solutions segment is expected to account for the larger share of the speech analytics market. The large share of this segment is attributed to the rising proliferation of speech analytics software in call centers, the growing demand for reporting and visualization tools across retail industries, and the increasing need for customer experience and engagement solutions. Additionally, the speech analytics solutions segment is expected to register the highest CAGR during the forecast period.

Based on application, the global speech analytics market is segmented into customer experience management, call monitoring and summarization, sales and marketing management, risk and compliance management, sentiment analysis, fraud detection & security applications, and other applications (quality assurance, real-time alerting). In 2022, the sales and marketing management segment is expected to account for the largest share of the global speech analytics market. The large share of this market segment is attributed to the increasing need for improved customer experience in sales and marketing departments, the rising need for speech analytics solutions to identify effective patterns to close sales deals and develop a training program to mentor other team members, rising demand of call monitoring solutions for spotting competitive challenges, and growing need for identifying cross and upsell opportunities.

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Based on organization size, the speech analytics market is segmented into small & medium-sized enterprises and large enterprises. In 2022, the small & medium-sized enterprises segment is expected to account for the larger share of the global speech analytics market. The large share of this market segment is majorly attributed to the growing demand for improved operational efficiency in small customer service environments, growing demand for automating customer interactions in call center operations, and the growing proliferation of call recording and speech analytics technology in small organizations. Additionally, this segment is expected to register the highest CAGR during the forecast period.

Based on deployment mode, the speech analytics market is segmented into on-premise deployment and cloud deployment. In 2022, the cloud-based deployment segment is expected to account for a larger share of the global speech analytics market. The large share of this market segment is attributed to the growing demand for secure cloud-based speech analytics software, the rising need for cloud-based communication solutions, the increasing need to store and analyze data through cloud platforms, and the growing benefits offered by highly sophisticated cloud-based speech analytics software.

Based on end-use industry, the global speech analytics market is segmented into IT & telecommunications, BFSI, retail & consumer goods, healthcare & life sciences, government & public sector, travel & hospitality, media & entertainment, business process outsourcing, education, others (FMCG, automotive). In 2022, the IT & telecommunications segment is expected to account for the largest share of the global speech analytics market. The large share of this market segment is attributed to increasing demand for speech analytics solutions by telecom companies to gather more actionable information in less time, increasing demand to boost customer retention by building loyalty and maintaining customer relationships, and growing popularity for solutions to implement protocols to seize opportunities for cross-selling and upselling in IT & telecom industry. However, the business process outsourcing segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to factors such as the growing demand to resolve simpler customer queries using AI-based chatbots and the increasing proliferation of speech analytics solutions to monitor agent performance and assess call quality.

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Based on geography, the global speech analytics market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2022, North America is expected to account for the largest share of the global speech analytics market. The large market share of this region is attributed to the increasing adoption of emotion analysis solutions in customer experience management; expansion of e-commerce platforms; growing focus on customer satisfaction; rising demand for speech analytics software to maintain inbound, outbound, and blended calls, e-mails, web inquiries, and chats; increasing demand for self-service interactions among customers; growing popularity for healthcare fraud analytics and detection solutions across the region; and growing demand for reporting and visualization tools by region's flourishing retail and e-commerce sectors. However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period due to the growing technology expenditures in countries such as Australia, China, and India, increasing demand for cost-effective analytical software and services among small and medium-sized enterprises (SMEs), and increasing usage and consciousness of speech and voice recognition devices in the automotive sector.

The key players operating in the global speech analytics market are NICE Ltd. (Israel), Verint Systems Inc. (U.S.), CallMiner, Inc. (U.S.), Genesys Cloud Services, Inc. (U.S.), Avaya Holdings Corp. (U.S.), Audio Analytic Ltd. (U.K.), Calabrio, Inc. (U.S.), Batvoice Technologies (France), Qualtrics, LLC (U.S.), Dialpad, Inc. (U.S.), WinterLight Labs (Canada), The Plum Group, Inc. (U.S.), Aural Analytics, Inc (U.S.), Amazon.com, Inc. (U.S.), Uniphore Technologies Inc. (India), Intelligent Voice Ltd (U.K.), Kwantics (India), Gnani Innovations Private Limited (India), and SAS Institute Inc. (U.S.).

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Related Report:
Speech-to-text API Market by Offering (Solutions, Services), Deployment Mode, Organization Size, Application (Transcription, Customer Experience & Analytics, Subtitle & Caption Generation), End User (B2B, B2C, B2G, G2C), Geography – Global Forecast to 2030 >>

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According to a new market research report titled “Plant-based Protein Market by Type (Soy Protein, Wheat Protein, Pea Protein, Potato Protein, Rice Protein, Corn Protein), Crop Type (GMO), Source Process (Organic), Application (Food and Beverages, Animal Feed, Nutritional Supplements) – Global Forecast to 2028”, published by Meticulous Research®, the plant-based protein market is expected to grow at a CAGR of 9.7% from 2021 to 2028 to reach $23.4 billion by 2028.

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Consumer interest in boosting protein intake increases with more attention paid to the specific types of protein consumed. With increasing population and welfare, the demand for protein as a food-nutritional component is rising sharply. The high protein trend is gaining traction and will continue to evoke interest in the upcoming years. Consumers have become more aware of protein benefits in supporting an active lifestyle. The desire for clean labels, ease of digestion, the need or desire to avoid allergens, compatibility with vegetarian and vegan lifestyles, and concerns about sustainability among the general population are putting the spotlight on plant proteins. Consumer notions of what constitutes a good protein source are expanding to include a wider variety of plant protein ingredients. Subsequently, interest in plant protein ingredients among food manufacturers and food service operators intensifies, fueling the global plant-based protein market's growth.

The overall plant-based protein market study is segmented based on type, crop type, source process, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.
Increasing demand for plant-based food during the COVID-19 pandemic to drive market growth.

COVID-19 provided a substantial increase in sales of plant-based products, which proved beneficial for all stakeholders in the plant-based proteins market. Few to be listed are:

• As of May 2020, Green Monday’s (China) online sales have doubled, citing the impact of the coronavirus. Among the most popular purchases was a pork substitute called Omnipork.
• In April 2020, JUST, a U.S.-based company that makes egg products from mung beans, announced that its sales on Chinese e-commerce platforms JD.com and Tmall of JUST Egg had surged 30% since the outbreak.
• As of May 2020, U.S.-based California Farms grocery sales increased by 50% compared to 2019. An upsurge in sales was mainly attributed to increased oat milk sales and nutritional plant-based butter.
• In April 2020, in the U.S., retail sales of fresh plant-based meats grew 279.8%. Also, oat milk sales grew 476.7% in the week ending March 2020, while dairy milk sales grew 32.4%. Additionally, according to IRI data, retail sales of meat grew 77% in the week of March 2020.

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Key findings in the plant-based protein market study
Based on type, the plant-based protein market is segmented into soy protein, wheat protein, pea protein, canola protein, potato protein, rice protein, corn protein, and other plant-based proteins. In 2021, the soy protein segment is estimated to account for the largest share of the overall plant-based protein market. The leading position of this segment is mainly attributed to higher consumer acceptance level, presence of a large number of manufactures and their high scale of production, low cost than other types of plant proteins, easy availability of raw materials, and a large number of applications in various industries. However, the pea protein segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to its nutritional qualities and its allergen-free, gluten-free, and lactose-free properties.

Based on crop type, the plant-based protein market is segmented into genetically and non-genetically modified organism crops. The genetically modified organism crops segment is estimated to account for the largest share of the overall plant-based protein market in 2021. The leading position of this segment is mainly attributed to the common use of GMO crops, such as soybean and corn, for plant-based protein production due to their huge productivity and cost-effectiveness. However, non-genetically modified organism crops are expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the recent trend of preference for food products with non-GMO labels, rising demand for eco-friendly, natural, and organic food products, and stringent regulations for GM crops in Europe and Asia-Pacific.

Based on source process, the plant-based protein market is segmented into organic and conventional plant-based protein ingredients. In 2021, the conventional plant-based protein ingredients segment is estimated to account for the largest share of the overall plant-based protein market. The leading position of this segment is mainly attributed to the high availability of crops grown through the traditional harvesting method (with the use of chemical fertilizers), easy accessibility to cost-effective conventional plant-based protein ingredients, their longer shelf life, and availability of substantial crop varieties. However, the organic plant-based protein ingredients segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing demand for preservative and additive-free products.

Based on form, the plant-based protein market is segmented into solid and liquid. The solid segment is estimated to account for the largest share of the overall plant-based protein market in 2021. The large share of this segment is mainly attributed to the growing demand for power plant-based protein coupled with their rising preference considering ease of handling and transport, comparatively lower costs, low chance of formulation mistakes, and their capacity to maintain ingredient stability.

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Based on application, the plant-based protein market is segmented into food and beverages, animal feed, nutrition & health supplements, pharmaceuticals, and others. In 2021, the food and beverages segment is estimated to account for the largest share of the overall plant-based protein market. The large share of this segment is mainly attributed to high consumer demand for sustainable products, growing awareness about the health benefits of plant proteins, increasing health concerns over animal products and ingredients, increasing vegan population, and rising meat prices and clean label trends. However, the nutrition and health supplement segment is also expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to changing lifestyles, growing health & wellness trends, and the increasing prevalence of diseases.

Geographically, North America is projected to account for the largest share of the global plant-based protein market in 2021. North America’s prominent position in the plant-based protein market is primarily attributed to the well-established food and beverage industry, rising concerns over animal products and protein, increasing vegan population, growing preference for meat alternatives, increasing demand for healthy & nutritional products, and growing health & wellness trend. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The rapid growth of this region is mainly attributed to growing protein-rich diet awareness, increasing health consciousness, growing technological advancements in the food & beverages industry, and increasing raw material availability.

The key players operating in the global plant-based protein market are Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Roquette Frères Le Romain (France), Ingredion Incorporated (U.S.), Kerry Group (Ireland), DuPont de Nemours, Inc. (U.S.), Now Foods (U.S.), Tate & Lyle PCL (U.K.), Axiom Foods Inc. (U.S.), AMCO Protein (U.S.), Burcon NutraScience Corporation (Canada), BENEO GmbH (Germany), Glico Nutrition Co., Ltd (Japan), Glanbia plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), Crespel & Deiters GmbH & Co. KG (Germany), Wilmar International (Singapore), and CHS Inc. (U.S.) among others.

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Health care is traditionally regarded as an important determinant in promoting the general physical, mental, and social well-being of people all over the world, and when efficient, it can contribute significantly to a country's economy, development, and industrialization. Healthcare is a rapidly expanding industry, mainly due to the growing sophistication of medical treatments & products and the increasing penetration of healthcare services. However, this booming industry is also producing more waste than ever before, resulting in the increased need to treat and dispose of this waste. Medical waste is produced during healthcare or diagnostic activities in hospitals & clinics, diagnostic & research laboratories, blood banks, mortuaries & autopsy centres, and long-term care facilities. Healthcare/medical waste includes hazardous and non-hazardous waste.
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The global geriatric population is on the rise due to increasing life expectancy. Improvements in the quality of care, rapid urbanization, and growing incomes have led to greater survival rates. According to the United Nations, in 2022, 771 million people were aged 65 years or over globally. This number is expected to increase from 771 million in 2022 to 994 million in 2030 and 1.6 billion in 2050.
The elderly population is more susceptible to various chronic diseases. According to the National Council on Aging (NCOA), around 80% of people over 65 have at least one chronic condition, while 68% have two or more. According to the International Diabetes Federation (IDF), globally, the number of people with diabetes is expected to increase from 537 million in 2021 to 643 million in 2030 and 783 million in 2045. Diabetes patients are required to monitor their blood sugar levels regularly and inject themselves with insulin to treat the disease, which leads to the generation of medical waste, such as lancet needles or syringes, insulin pen needles, injection vials or cartridges, and full needle clippers, every day. Similarly, the prevalence of cancer is rising all over the world. According to GLOBOCAN, in 2020, 19.3 million people were diagnosed with cancer globally, which is expected to increase to 24.6 million by 2030.
According to World Health Organization data, 85% of the waste produced in the healthcare sector is non-hazardous and regular waste. The remaining 15% constitutes waste that could be radioactive, infectious, or chemical, proving hazardous to the environment. According to the Centre for Science and Environment (CSE), biomedical waste generation in India increased from 559 tonnes per day in 2017 to 619 tonnes per day in 2019. Medical waste management helps reduce the spread of infectious medical equipment-borne diseases such as HIV/AIDS and hepatitis. Proper waste management strategies can help prevent the illegal trade of used syringes, injection needles, and medical instruments.
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Thus, the rising geriatric population and the consequent increase in chronic disease prevalence boost the demand for the diagnosis of these diseases for early detection, prevention, and treatment, generating medical waste and driving the demand for medical waste management services. The global medical waste management market is growing at a CAGR of 5.4% over the forecast period to reach $17.02 billion by 2030, according to the Meticulous Research® report.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments that led market participants to adopt over the past three years. The key players profiled in the global medical waste management market report are Biomedical Waste Solutions, LLC (U.S.), Clean Harbors, Inc. (U.S.), Daniels Sharpsmart Inc. (U.S.), Stericycle, Inc. (U.S.), Veolia Environnement SA (France), Waste Management, Inc. (U.S.), EcoMed Services (Canada), and Gamma Waste Services (U.S.), REMONDIS SE & CO. KG (Germany), GIC Medical Disposal, Inc. (Canada).
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According to a new market research report titled, Live Streaming Market by Component (Platform, Services), Offering Model (B2B, B2C), Streaming Type (Audio, Video, Game), Vertical (Media & Entertainment, Education, Sports & Gaming, Government, Fitness), and Geography — Global Forecast to 2028,' the live streaming market is expected to reach $4.26 billion by 2028, at a CAGR of 22.4% from 2021 to 2028.
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The adoption of advanced technologies for live streaming content over the internet has revolutionized the media industry. In recent years, many companies have started offering live streaming features on their platforms. Live broadcast technology over the internet has improved significantly and is increasingly being used for live streaming esports, sports events, concerts, theater, workout routines, and educational content. Furthermore, live streaming became a necessary alternative for numerous applications during the COVID-19 pandemic. Thus, there is considerable growth in the demand for live streaming technology to enable high-quality streams, enhanced marketing, analytics tracking, and real-time customer interaction.
The growth of this market is driven by the surging popularity of esports and video games, the growing preference for live-streamed content, and increasing smartphone adoption and internet penetration. However, connectivity and production issues are expected to restrain the growth of this market.
Furthermore, the increasing focus on network bandwidth optimization and the growing scope of live streaming technology is expected to create growth opportunities for the vendors operating in this market. However, fake traffic on live streaming websites is a major challenge for the market's growth. Additionally, the incorporation of advanced technologies is an ongoing trend in this market.
Increasing Smartphones Adoption and Internet Penetration to Drive the Live Streaming Market
In live streaming setups, different technologies, such as streaming protocols carry data to the users. Streaming platforms require high-speed internet connectivity to establish stable, reliable connections and enable higher content bitrate and resolution. Streaming live videos requires high internet speeds due to factors such as resolution, bandwidth, and bitrate, whereas audio streaming requires low speeds as it consumes smaller bandwidths.
According to Dacast (U.S.), some of the estimated internet requirements for different streaming resolutions are as follows:
• Streaming 1080p HD videos – 25 Mbps
• Streaming 720p Videos – 10 Mbps
• Streaming 480p Videos – 5 Mbps
The wide availability of smart devices and smartphones with high computing power and increasing internet penetration across the globe drive the growth of the live streaming market. According to Cisco Systems, Inc. (U.S.), by 2023, there will be around 5.3 billion internet users globally with average global fixed broadband speeds up to 110 Mbps and approximately 3.6 global devices and connections per capita.
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The global live streaming market has witnessed remarkable growth during the COVID-19 pandemic. According to the GWI Live Streaming Infographic, in 2020, approximately 29.0% of internet users globally accessed live-streamed content on their preferred social media platforms. Also, according to GWI Live Streaming Trends, in March and April 2020, live streamers accounted for more than a third of all internet users globally. These factors are expected to further drive the growth of the live streaming market during the forecast period.
To provide efficient analysis, Meticulous Research® has segmented this market based on component (services and software/solutions), offering (business-to-business [B2B], business-to-consumer [B2C]), streaming type (audio streaming, video streaming, and game streaming), vertical (enterprises, media & entertainment, education & e-learning, sports & gaming, government organizations, fitness, religious organizations, and other verticals), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).
Based on type, the live streaming market is segmented into services and software/solutions. In 2021, the services segment accounted for the largest share of the live streaming market. The factors responsible for the large market share of this segment include the growing demand for new installation and integration of live-streaming platforms, the need for professional post-production support, upgradation, and maintenance to help deliver content based on client specifications and provide a personalized experience to viewers, and the surging demand for customer support, content creation services, and subscription services.
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Based on offering, the live streaming market is segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2021, the business-to-consumer (B2C) segment accounted for the largest share of the live streaming market. The factors responsible for the large market share of this segment include the increasing need to transmit live content on the internet for better brand engagement and reach, the growing adoption of smart devices, and high internet penetration globally.
Based on streaming type, the live streaming market is segmented into audio streaming, video streaming, and game streaming. In 2021, the video streaming segment accounted for the largest share of the live streaming market. However, the game streaming segment is slated to register the highest CAGR during the forecast period due to the proliferation of smartphones with high processing power, high internet penetration, an increasing number of online gamers, and the rising popularity of esports.
Based on vertical, the live streaming market is segmented into media & entertainment, enterprises, education & e-learning, sports & gaming, government organizations, fitness, religious organizations, and other verticals. In 2021, the media & entertainment segment accounted for the largest share of the live streaming market. The factors responsible for the large market share of this segment include the growing popularity of online live video streaming in the media & entertainment industry, the rising technological advancements such as the implementation of blockchain technology in streaming, the growing adoption of cloud-based video streaming solutions, and the increasing use of artificial intelligence for increasing the reach of video content, improving video quality, and enhancing security.
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Based on geography, the live streaming market is segmented into five major regions: Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. In 2021, Asia-Pacific accounted for the largest share of the live streaming market. The factors responsible for the large market share in Asia-Pacific include the rising focus on digitalization due to technological advancements, such as cloud computing, AI, and 5G technology in the digital media industry and the rising adoption of live-streaming platforms for better brand engagement and reach.
In addition, Asia-Pacific is slated to register the highest CAGR during the forecast period. The high market growth in Asia-Pacific is driven by the increasing consumer base for live streaming content, the rising smartphone adoption, and the high internet penetration.
The live streaming market is dominated by three top players: Vimeo, Inc. (U.S.), IBM Corporation (U.S.), and Boxcast (U.S.). These players continuously focus on agreements, collaborations, partnerships, and product development and launches to increase their respective market shares.
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According to a new market research report, ‘Digital X-ray Systems Market by Portability {Fixed (Ceiling, Floor), Portable (Mobile, Handheld)}, Technology (Computed, Direct), Application (Orthopaedic, Dental, Cardiovascular, Mammography), End User (Hospital, Imaging Center) – Global Forecast to 2030’ published by Meticulous Research®, the digital X-ray market is projected to reach $8.12 billion by 2030, at a CAGR of 7.8% from 2023 to 2030.

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Digital X-ray is the advanced form of X-ray where a digital radiographic image is produced directly on a computer. The X-ray sensitive plate is used to directly capture the data during the examination of patients. These have high resolution and, hence, provide better and clearer images. The technological advancements in these devices make them more efficient and accurate for various applications.

The growth of this market is driven by the rising geriatric population coupled with the burden of chronic diseases, increasing adoption of teleradiology, technological advancements in digital X-ray systems, and growing preference for digital X-ray systems over conventional systems. Additionally, emerging economies and the implementation of Artificial Intelligence (AI) in digital X-ray systems are creating opportunities for market growth.

The key players profiled in this market study are Siemens Healthineers AG (Germany), Koninklijke Philips N.V. (Netherlands), GE HealthCare Technologies Inc. (U.S.), Canon Inc. (Japan), Shimadzu Corporation (Japan), FUJIFILM Holdings America Corporation (U.S.), Carestream Health, Inc. (U.S.), Agfa-Gevaert NV (Belgium), Hologic, Inc. (U.S.), Hitachi, Ltd. (Japan), and Samsung Medison Co., Ltd. (South Korea).

Artificial Intelligence (AI) in Digital X-ray Systems to Positively Impact the Digital X-ray Systems Market Growth

X-ray is often used as an entry-level modality for diagnosing patients, producing large volumes of images. These systems are equipped with Artificial Intelligence (AI) for efficient analysis of images. A large database of radiography images is created, and with the help of AI-powered recognition algorithms, radiologists can analyze irregular readings. AI recognition will search and map images to help identify pathologies and display a heat map of potential issues. Internal defects, inclusions, or geometries can also be tested, and this process is reduced from several days to a few hours. During the COVID-19 pandemic, there was an increased adoption of AI platforms. These AI-driven platforms helped early intervention through rapid screening of COVID-19 with the help of chest X-ray interpretation.

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Market players are focusing on developing AI platforms for their benefit in data screening. For instance, in June 2022, MinXray, Inc. (U.S.) enhanced the digital radiography systems with the AI solution. The AI software can detect and localize 30 chest X-ray abnormalities, including TB and COVID-19 infections. In January 2020, Nano-X Imaging LTD. (Israel) secured $26 million in funding for the development, commercialization, and deployment of its Nanox System. The Nanox system is a digital X-ray device consisting of Nanox.Cloud software that provides an end-to-end medical imaging service based on AI analysis. Hence, with digitization, implementing AI in these systems will lead to effective analysis using digital X-ray systems.

The digital X-ray systems market is segmented by product type {fixed digital X-ray systems (ceiling mounted, floor mounted), portable digital X-ray systems (mobile, handheld), detectors, software}, technology (direct radiography, computed radiography), application (orthopedics and trauma care, mammography, dental, cardiovascular diseases, other applications), end user (hospitals & clinics, diagnostic imaging centers, other end users), and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on product type, in 2023, the fixed digital X-ray systems segment is expected to account for the largest share of the digital X-ray systems market. These systems are widely used in hospitals and diagnostic centers. With the rising number of hospitals and diagnostic imaging centers, the adoption of fixed digital X-ray systems has increased, further contributing to the segment’s large market share. However, the portable digital X-ray systems segment is projected to register the highest CAGR during the forecast period. The benefits of portable systems, such as flexibility to be used around the hospitals and at point-of-care and the innovations taking place in the systems to make them more effective for use, contribute to this segment's growth.

Based on technology, the direct radiography segment is expected to account for the largest share of the digital X-ray systems market. Factors such as increased efficiency in the workflow, less radiation exposure, better image quality, and can easily be integrated with existing technology or systems contribute to the segment’s largest share.

Based on application, in 2023, the orthopedics and trauma care segment is expected to account for the largest share of the digital X-ray systems market. The large market share of this segment is attributed to the increased prevalence of orthopedic disorders such as osteoporosis, rheumatoid arthritis, and bone injuries. Digital X-ray devices are mainly used for the initial screening level for these disorders to plan further treatment. Also, post-surgery, an X-ray is done for the recovery study of the patients.

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Based on end user, in 2023, the hospitals & clinics segment is expected to account for the largest share of the digital X-ray systems market. Hospitals & clinics perform a wide range of diagnoses and surgeries, which include the use of X-rays. The increased hospitalizations due to the rising incidence of diseases, the rise in the geriatric population, and the increase in the number of healthcare settings boost the growth of this segment. However, the diagnostic imaging centers segment is projected to register the highest CAGR during the forecast period. The high cost of hospitals’ outpatient departments, the increasing number of diagnostic centers, and the growing patient population contribute to the growth of the market.

Based on geography, in 2023, North America is expected to account for the largest share of the global digital X-ray systems market, followed by Europe and Asia-Pacific. Higher adoption of technologically advanced products in the U.S. and Canada, government initiatives toward improving healthcare infrastructure, and increased demand for better imaging modalities such as digital X-ray systems contribute to the largest segment of the region. However, Asia Pacific is projected to register the highest CAGR during the forecast period. The rapid growth of this market is mainly driven by the improvements in the healthcare infrastructure in the region, the gradually rising need for advanced imaging modalities, the high burden of the aging population, and the increasing prevalence of chronic diseases and injuries are some of the factors contributing to the growth of the market in this region.

The report also includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market players in the last three to four years. In recent years, the digital X-ray systems market has witnessed several organic and inorganic strategic developments.

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According to a new market research report titled, ‘Geospatial Solutions Market by Offering, Application, Organization Size, Deployment Mode, End-use Industries (Natural Resources; Security & Defence; BFSI; Media & Entertainment; Healthcare; Architecture, Engineering) – Global Forecast to 2029,’ the global geospatial solutions market is projected to reach $845.7 billion by 2029, at a CAGR of 16.9% from 2022 to 2029.

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Geospatial solutions collect, manage, organize, and store data pertaining to geographic information. These enable consumers to acquire data referenced to the earth and use it for analysis, modelling, simulations, and visualization.

Geospatial solutions are increasingly gaining traction due to their utilization across various end-use industries such as BFSI, healthcare, natural resources, manufacturing, transportation & logistics, and security & defence. The growth of the global geospatial solutions market is driven by the surge in demand for GIS & asset mapping solutions, the growing proliferation of IoT and connected devices, and the high adoption of cloud computing. However, the data privacy concerns, and high set-up and operating costs are notable restraints for market growth. The growing demand for mobile mapping systems and government initiatives to promote smart infrastructure are expected to offer significant growth opportunities for the players in this market. However, geospatial data integration challenges and the lack of a CORS network pose serious challenges to the growth of the geospatial solutions market.

Impact of COVID-19 on the Geospatial Solutions Market

The spread of COVID-19 severely impacted the performance of several industries and economies globally, including the geospatial solutions market. The pandemic created several challenges for this market due to the lockdowns imposed during the second and third quarters of 2020. The pandemic lowered consumers' financial potential, which decreased the sales of geospatial solutions.
However, in 2021, major industries, including healthcare, retail, manufacturing, and natural resources, started recovering from the economic setbacks. The delayed and postponed orders for geospatial solutions negatively impacted this market during the pandemic. However, the market started recovering rapidly in the last quarter of 2020.

The deployment of geospatial solutions promotes location intelligence, situational analysis, and awareness, which are important factors for crisis management. The players in this market plan to move forward and capitalize on the lucrative market growth opportunities resulting from the pandemic. The geospatial solutions market is projected to transform drastically over the coming years. Several leading companies are rapidly growing through product launches, enhancements, partnerships, and collaborations. For instance:

In 2021, Trimble Inc. (U.S.) expanded its geospatial automated monitoring portfolio with world sensing geotechnical IoT solutions.
In 2020, Hexagon’s Safety, Infrastructure & Geospatial division (a subsidiary of Hexagon AB) (Sweden) launched the Luciad 2020.1, a significant update to its platform for building advanced location intelligence and real-time situational awareness applications.

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The global geospatial solutions market is segmented by offering (solution, services), application (surveying, military/border security, disaster management, marketing management, urban planning, public safety, and asset management), organization size (SMEs, large enterprises), deployment mode (on-premise deployments, cloud deployments), and end-use industries (natural resources; security & defense; BFSI; media & entertainment; healthcare; architecture, engineering & construction; education; telecom & IT; manufacturing; oil & gas; retail; transportation & logistics; and utilities). The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on offering, the global geospatial solutions market is segmented into solutions and services. In 2022, the services segment is expected to account for the largest share of the global geospatial solutions market. The large market share of this segment is attributed to the increasing demand for geospatial services for land surveying, mapping, data visualization, and GIS services. This segment is also projected to register the highest CAGR during the forecast period.

Based on application, the geospatial solutions market is segmented into surveying, military/border security, disaster management, marketing management, urban planning, public safety, and asset management. In 2022, the surveying segment is expected to account for the largest share of the global geospatial solutions market. The large market share of this segment is attributed to the growing need for interpretation/analysis and presentation of the natural, social and economic environments; better land management solutions; the rising popularity of land surveying solutions for infrastructure management and development; and land management and reform across urban and regional planning. This segment is also projected to register the highest CAGR during the forecast period.

Based on organization size, the global geospatial solutions market is segmented into SMEs and large enterprises. In 2022, the large enterprises segment is expected to account for the largest share of the global geospatial solutions market. However, the SMEs segment is projected to register the highest CAGR during the forecast period. Open access to geospatial data has been proven advantageous to SMEs, which was earlier considered a major hindrance due to their revenue constraints.

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Based on deployment mode, the geospatial solutions market is segmented into on-premises deployment and cloud deployment. In 2022, the cloud deployment segment is expected to account for the largest share of the global geospatial solutions market. The large market share of this segment is attributed to the rising demand for viewing, creating, monitoring, managing, and analyzing geospatial data through cloud platforms. Additionally, the high demand for cloud-based GIS solutions for landslide mapping and safe construction planning and the growing benefits of cloud-based solutions such as data access, easy distribution, and centralized data capture and analysis is expected to further the growth of this segment. This segment is also projected to register the highest CAGR during the forecast period.

Based on end-use industry, the global geospatial solutions market is segmented into natural resources; security & defense; BFSI; media & entertainment; healthcare; architecture, engineering & construction; education; telecom & IT; manufacturing; oil & gas; retail; transportation & logistics; and utilities. In 2022, the transportation & logistics segment is expected to account for the largest share of the global geospatial solutions market. This segment's large market share is attributed to the growing need for geospatial data for transportation management & planning, the rising demand for location-enabled intelligent mapping solutions, geospatial solutions to promote route planning and ensure safety, and the increasing need for geospatial data to improve delivery schedules.

Based on geography, the global geospatial solutions market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the global geospatial solutions market. The large market share of this region is attributed to favorable government policies supporting the easy sharing of geospatial data between private organizations, promoting this market’s growth.

Some of the key players operating in the global geospatial solutions market are HERE Technologies (Netherlands), ESRI (U.S.), TomTom N.V. (Netherlands), Google LLC (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Trimble, Inc. (U.S.), Orbital Insights (U.S.), Oracle Corporation (U.S.), RMSI Pvt. Ltd. (India), Precisely (U.S.), General Electric (U.S.), Hexagon AB (Sweden), Cyient Limited (India), L3Harris Technologies, Inc. (U.S.), Fugro N.V. (Netherlands), Foursquare (U.S.), Carmenta (Sweden), Maxar Technologies (U.S.), and Cesium GS, Inc. (U.S.).

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According to a new market research report titled, ‘Agricultural Micronutrients Market by Type (Zinc, Iron, Copper, Molybdenum), Crop Type (Cereals and Grains, Fruits and Vegetables), Form (Non-chelated, Chelated), Mode of Application (Soil, Foliar, Fertigation, Seed Treatment) – Global Forecast to 2030,’ the agricultural micronutrients market is projected to reach $13.35 billion by 2030, at a CAGR of 8.4% from 2023 to 2030.

Agricultural micronutrients are essential because they play a significant role in the growth and development of plants. While plants require large quantities of macronutrients like nitrogen, phosphorus, and potassium, they also need micronutrients such as zinc, iron, manganese, copper, molybdenum, boron, and others in smaller amounts for their proper functioning. Micronutrient deficiencies can negatively impact plant growth and productivity.

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Further, micronutrient applications can increase crop yield and quality. For instance, zinc is critical for proper seed and fruit development, while iron is essential for chlorophyll synthesis and photosynthesis. Also, it helps to maintain soil fertility and sustainability. Continuous cropping and intensive agricultural practices can deplete micronutrient levels in soils over time. Applying micronutrient fertilizers or amendments helps replenish these nutrients and ensures balanced nutrient management for long-term soil health. So, agricultural micronutrients are essential are plant growth.

The global agricultural micronutrients market is segmented by type, crop type, form, mode of application, and geography.

Key Findings in the Global Agricultural Micronutrients Market Study:

Based on type, in 2023, the zinc segment is expected to account for the largest share of the global agricultural micronutrients market. The large market share of this segment is attributed to the rising awareness about the wide range of functions that zinc plays in plant growth and how zinc deficiency in soils affects plants, the growing demand to meet issues with food security challenges, and the rising demand for zinc nutritious food products due to its health benefits. Moreover, the increasing government initiatives globally to enhance zinc concentrate in the soil to increase quantitative and qualitative crops further support the growth of this segment.

Based on crop type, in 2023, the cereals & grains segment is expected to account for the largest share of the global agricultural micronutrients market. The large market share of this segment is attributed to the rising demand for food grains due to the growing population, increasing industrial application of cereals & grains, and huge production of staple crops such as wheat, maize, rice, and barley, which form the primary food source for a major population of the world. However, the fruits & vegetables segment is projected to grow at the highest CAGR during the forecast period of 2023–2030. The growth of this segment is driven by the increasing production of fruits and vegetables due to the rising consumption of healthy foods, growing demand for organic fruits and vegetables, and micronutrient deficiency in fruit and vegetable crops.

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Based on form, in 2023, the non-chelated micronutrients segment is expected to account for the larger share of the global agricultural micronutrients market. The large market share of this segment is attributed to the increasing application of non-chelated micronutrients because of their low price over chelated form micronutrients. However, the chelated micronutrients segment is projected to record the higher CAGR during the forecast period due to its high stability over the non-chelated micronutrients, the growing need to increase micronutrient utilization efficiency, and the development and application of new generations of chelates.

Based on mode of application, the soil treatment segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly driven by the rampant use of traditional agriculture methods in the current farming system, the availability of very limited resources, and the lower adoption of advanced fertilizer application methods.

Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the global agricultural micronutrients market. The large share of this market is mainly attributed to the huge area under crop cultivation, growing population, increasing demand for high-quality food, and rising focus on agricultural micronutrients to improve crop productivity and crop yield in emerging economies like China and India. Additionally, the increasing agricultural practices and the necessity of high-quality agricultural produce are anticipated to further support the growth of this market. Moreover, this region is projected to register the highest CAGR during the forecast period due to the vast depletion of arable land, rising micronutrient deficiency in soil and huge areas of infertile soil, and the increasing government support for the fertilizer industry.

In recent years, the global agricultural micronutrients market has witnessed several product launches, partnerships, agreements, collaborations, expansions, and mergers. The key players operating in the global agricultural micronutrients market are AgroLiquid (U.S.), Aries Agro Limited (India), BASF SE (Germany), BMS Micro-Nutrients NV (Belgium), Coromandel International Limited (India), Haifa Group (Israel), Helena Agri-Enterprises, LLC (U.S.), Koch Industries, Inc. (U.S.), Nouryon (Netherlands), Nufarm Limited (Australia), Nutrien Ltd. (Canada), The Mosaic Company (U.S.), VALAGRO S.P.A (Part of Syngenta AG) (Italy), and Yara International ASA (Norway).

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