The global bio-LNG market was valued at $618.4 million in 2022 and is anticipated to reach $3,607.2 million by 2032, witnessing a CAGR of 20.3% during the forecast period 2023-2032.

The demand for bio-LNG is anticipated to grow with the increasing demand from end-use industries such as automotives, ships, and others. Furthermore, it is anticipated that during the projected period of 2023-2032, there will be an increasing adoption of bio-LNG in the automobile industry, and several governments are expected to implement policies and incentives to encourage the production and use of bio-LNG in various regions. For instance, the European Union has been setting targets to increase the use of renewable energy in the transport sector. In addition, the European Union has introduced the Alternative Fuels Infrastructure Directive, which aims to support the development of infrastructure for alternative fuels such as bio-LNG. However, the high cost of bio-LNG as compared to LNG is anticipated to hinder market growth in the future.

Market Lifecycle Stage

The global bio-LNG market is in the growth phase. Rising sales of vehicles and increasing focus on decarbonization and controlling pollutants are expected to boost the market growth. Furthermore, the increasing numbers of LNG trucks and rising environmental concerns are creating significant growth opportunities for bio-LNG. Bio-LNG is an inexhaustible substitute for conventional fuel and is one of the best options to meet the rising need for energy while reducing greenhouse gas emissions. Therefore, owing to the aforementioned factors, its demand is increasing. Moreover, the global bio-LNG market is expected to benefit from favorable government policies, which are expected to promote market expansion. The requirement for bio-LNG is being stimulated by ships as well.

Industrial Impact

• Growing demand for decarbonization is the main driving force behind the growing consumer interest in bio-LNG. As a result, these fuels are getting prominence in a variety of industries, including buses, trucks, ships, and others. One area where their implementation has been significantly greater is trucks and ships, which is expected to create opportunities for both existing market participants and market entrants.
• Furthermore, bio-LNG has a moderate to high impact on end-user industries; however, in the upcoming future, with increased production of automobiles, ships, and other applications, the impact is anticipated to increase.

Impact of COVID-19

The bio-LNG market was affected moderately by COVID-19. The demand for energy in transportation and other industries has dramatically dropped because of business restrictions, travel bans, and border closures, which have led to a decrease in the use of bioenergy and other renewable sources. Similarly, disruptions in the transportation of raw materials and finished products have also impacted the bio-LNG supply chain. The pandemic has also impacted the funding of bio-LNG projects, as investors have become more cautious due to the uncertainty caused by the pandemic. Overall, the pandemic has had a significant impact on the bio-LNG market. It has also drawn attention to the significance of renewable energy sources and the necessity of resilience in the face of universal challenges.

Market Segmentation:

Segmentation 1: by Application

• Automotive
• Ships
• Others

Based on application, automotive led the global bio-LNG market in terms of value in 2022.

Segmentation 2: by Source

• Agriculture Residues
• Industrial Waste
• Household Waste
• Others

The global bio-LNG market was led by agriculture residues in terms of source by value in 2022.

Segmentation 3: by Region

• North America – U.S., Canada, and Mexico
• Europe – Germany, France, Netherlands, Italy, Scandinavian, and Rest-of-Europe
• China
• U.K.
• Asia-Pacific and Japan – Japan, India, South Korea, Australia, and Rest-of-Asia-Pacific and Japan
• Rest-of-the-World – South America, and Middle East and Africa

In the global bio-LNG market, Europe dominates the market owing to several bio-LNG production facilities already operational and more in the pipeline. This is due to several factors, including the strong regulatory support for renewable energy and decarbonization in the region, the availability of feedstocks for bio-LNG production, and the high demand for low-carbon fuels in the transportation and shipping sectors.

Recent Developments in the Global Bio-LNG Market

• In February 2023, GREEN CREATE built manure-fed biomethane production facilities in Wijster, Netherlands. The plant produces renewable natural gas (RNG) from agricultural waste, specifically manure that can be further upgraded to bio-LNG, which can then be used as a low-carbon fuel in the transportation sector.
• In February 2023, Liqvis announced migration to bio-LNG for heavy-duty transportation starting in 2023 as it broadens its range of bio-LNG suppliers. Beginning in mid-2023, Liqvis would gradually migrate to CO2-neutral bio-LNG and sell it as a substitute fuel at its refueling facilities.
• In April 2023, the U.K.’s largest owner of bio-CNG and bio-LNG plants, Nottingham-based Roadgas, recently transferred its assets to Pretoria Energy Group, which is funded by Mercuria Clean Energy Investments. Roadgas provides customized on-site fuelling options using biomethane made in the U.K. Within five years, the firm aims to power more than 2,500 gas-fuelled trucks annually.

Demand – Drivers and Limitations

The following are the demand drivers for the global bio-LNG market:

• Rising Environmental Concerns
• Increasing Number of LNG Trucks

The market is expected to face some limitations as well due to the following challenges:

• Limited Availability of Feedstocks
• High Price of Bio-LNG as Compared to LNG

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader to understand the different sources involved in producing bio-LNG. Moreover, the study provides the reader with a detailed understanding of the global bio-LNG market based on the application (automotive, ships, and others). Bio-LNG is gaining traction in different applications on the back of sustainability concerns and less nitrogen oxide emissions. They are also being used for controlling greenhouse gas (GHG) emissions.

Growth/Marketing Strategy: The global bio-LNG market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been product developments, business expansions, and acquisitions to strengthen their position in the global bio-LNG market. For instance, in October 2022, Titan LNG announced a plan to produce around 200,000 tons of bio-LNG annually. At its location in the port of Amsterdam, Titan LNG is expected to construct and run the bio-LNG plant, enabling delivery to ships and trucks.

Competitive Strategy: Key players in the global bio-LNG market analyzed and profiled in the study involve bio-LNG manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the global bio-LNG market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.

The global bio-LNG market has been segmented by different application, among which automotive captured around 66% of the market as of 2022, ships accounted for around 29%, and other end-use industries accounted for around 5% of the total demand in 2022 in terms of value.

Key Companies Profiled

• TotalEnergies SE
• Linde plc
• MAKEEN Energy
• Nordsol
• BoxLNG Pvt. Ltd
• Flogas Britain Limited
• DBG Group B.V.
• Gasum Ltd
• RUHE Biogas Service GmbH
• LIQVIS GmbH
• Andion Global Inc.
• Cycle0
• Titan LNG
• Alexela
• EnviTec Biogas AG
• Scandinavian Biogas Fuels International AB
• Scale Gas Solutions
• GREEN CREATE
• Biomet SpA
• Air Water Inc.

The post Bio-LNG Market – A Global and Regional Analysis: Focus on Application, Source, and Region – Analysis and Forecast, 2023-2032 first appeared on CRI Report.

The Middle East and North Africa laparoscopy devices market was valued at $752.0 million in 2021 and is anticipated to reach $1,731.4 million by 2031, witnessing a CAGR of 7.71% during the forecast period 2022-2031.

The market is driven by factors such as the rising preference for minimally invasive surgeries, increase in the prevalence of chronic diseases in the geriatric population, rising technological advancement, and increase in medical tourism in some countries.

Market Lifecycle Stage

The laparoscopy devices market is still in the development phase. Increased research and development activities are underway to develop more products. The market is driven by factors such as the rising preference for minimally invasive surgeries and increase in the prevalence of chronic diseases in the geriatric population, among others.

The rising preference for surgeries over open surgeries is leading to the increased demand for laparoscopy devices such as laparoscopes and energy devices, and the integration of industry with robotics is a major opportunity in the Middle East and North Africa laparoscopy devices market.

Impact of COVID-19

The COVID-19 pandemic led to the deferral of surgical procedures. The impact of COVID-19 on laparoscopy devices is ambiguous, as surgeries were limited during the pandemic. Before the COVID-19 pandemic, laparoscopic surgeries were majorly undertaken in hospitals and clinical facilities. Owing to factors such as travel restrictions and the risk of transmission of the virus, there was a decrease in laparoscopic surgeries.

As the recovery phase of the COVID-19 pandemic begins, laparoscopy device procedures are expected to normalize.

In addition to this, the COVID-19 pandemic also helped in the adoption of disposable laparoscopy devices. Single-use laparoscopy devices eliminate the risk of cross-contamination, which turned out to be a favorable condition for their adoption during the COVID-19 pandemic.

Market Segmentation:

Segmentation 1: by Product

• Conventional Laparoscopy Devices
o Laparoscopes
o Hand Instruments
o Access Devices
o Energy Devices
o Closure Devices
o Insufflators
o Others

• Robotic-Assisted Laparoscopy Devices
o Systems
o Instruments and Accessories
o Services

The Middle East and North Africa laparoscopy devices market (by product) is expected to be dominated by the conventional laparoscopy devices segment.

Segmentation 2: by Application

• General Surgery
• Gynecological Surgery
• Urological Surgery
• Bariatric Surgery
• Other Surgeries

General surgery is expected to be the major application in the Middle East and North Africa laparoscopy devices market.

Segmentation 3: by Country

• Turkey
• U.A.E
• K.S.A
• Israel
• Rest-of-Middle East and North Africa

The Middle East and North Africa laparoscopy devices market (by country) is expected to be dominated by Turkey.

Segmentation 4: by End User

• Hospitals
• Ambulatory Surgical Centres
• Others

The Middle East and North Africa laparoscopy devices market (by end user) is dominated by the hospital segment.

Recent Developments in Middle East and North Africa Laparoscopy Devices Market

• In January 2022, Seger Surgical Solutions Ltd announced that it had launched the next-generation laparoscopic stapler for intracorporeal anastomosis in the market.

• In September 2021, Olympus Corporation strengthened its surgical portfolio with the launch of POWERSEAL advanced bipolar surgical energy devices.

• In December 2021, Intuitive Surgical, Inc. received FDA clearance for an 8 mm SureForm 30 curved-tip stapler for use in general, thoracic, gynecologic, urologic, and pediatric surgery.

• In January 2020, KARL STORZ SE & Co KG introduced a new 3D surgical imaging system and modular camera platform at Arab Health 2020.

• In March 2019, Stryker Corporation acquired an Israel-based company named Orthospace Ltd. to expand its product portfolio.

• In June 2018, Stryker Corporation signed a definitive agreement to acquire SafeAir AG, a Swiss medical device company dedicated to the design, development, and manufacture of innovative surgical smoke evacuation solutions, for the expansion of the surgical business.

Demand – Drivers and Limitations

Following are the drivers for the Middle East and North Africa laparoscopy devices market:

• Rising Preference for Minimally Invasive Surgeries
• Increase in Prevalence of Chronic Diseases in Geriatric Population
• Rising Technological Advancements
• Increase in Medical Tourism in Countries

The market is expected to face some limitations too, due to the following challenges:

• High Cost of Robotic-Assisted Minimally Invasive Surgeries and Shortage of Skilled Professionals
• Lack of Reimbursement Policies

How can this report add value to an organization?

Type: The type segment helps the reader understand the different types of laparoscopy products available in the market. Moreover, the study provides the reader with a detailed understanding of products that fall under the two main segments, i.e., conventional laparoscopy devices and robotic assisted laparoscopy devices.

Growth/Marketing Strategy: The Middle East and North Africa laparoscopy devices market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been regulatory and legal activities, partnerships, alliances, and business expansions to strengthen their position in the market.

For instance, in March 2019, Stryker Corporation acquired an Israel-based company, named Orthospace Ltd., and in September 2021, Olympus Corporation strengthened its surgical portfolio with the launch of POWERSEAL advanced bipolar surgical energy devices.

Competitive Strategy: Key players in the global Middle East and North Africa laparoscopy devices market analyzed and profiled in the study involve established and emerging players that offer different products for laparoscopy devices.

Moreover, a detailed competitive benchmarking of the players operating in the global Middle East and North Africa laparoscopy devices market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.

Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some of the players in this market are:

• Applied Medical Resources Corporation
• Arthrex, Inc.
• Asensus Surgical, Inc.
• Barco N.V.
• B. Braun SE
• Boston Scientific Corporation
• CONMED Corporation
• Human Xtensions Ltd.
• Intuitive Surgical, Inc.
• Johnson & Johnson
• KARL STORZ SE & Co. KG
• Medtronic plc
• Olympus Corporation
• Peters Surgical
• Seger Surgical Solutions Ltd
• Stryker Corporation
• Virtual Ports

The post Middle East and North Africa Laparoscopy Devices Market – A Regional Analysis: Focus on Application, Products, End User, and Country – Analysis and Forecast, 2022-2031 first appeared on CRI Report.

Market Segmentation

• Application: Supermarkets/Hypermarkets, Online, Convenience Stores, and Specialty Stores
• Product: Fermented Plant-Based Dairy (Milk, Cheese, Yogurt, and Others), Fermented Plant-Based Pickles & Vegetables (Cucumber Pickles, Kimchi, Olives, and Others), Fermented Plant-Based Sauces & Seasonings (Soy Sauce, Gochujang, and Others), Fermented Plant-Based Bakery, and Fermented Plant-Based Meat

Regional Segmentation

• North America: U.S., Canada, and Mexico
• South America: Brazil
• Europe: Germany, France, and Spain
• China
• U.K.
• Middle East and Africa: Saudi Arabia, U.A.E., and South Africa
• Asia-Pacific: Japan, Australia, India, and South Korea

Market Growth Drivers

• Increasing Adoption of Sustainable Diet
• Escalating Lactose Intolerance and Milk Allergies among Consumers
• Changing Dietary Patterns (such as Veganism and Flexitarianism)

Market Challenges

• Getting the Right Texture and Taste
• Ensuring a Healthy Nutritional Profile

Market Opportunities

• Investment in Fermented Plant-Based Yogurt
• Growing Demand of Plant-Based Meat

Key Companies Profiled

AngelYeast Co., Ltd, Cargill, Incorporated, Chr. Hansen Holding A/S, DuPont, Evonik Industries AG, Yofix Probiotics Ltd., Arla Foods, Danone, Field Roast Foods, General Mills, Inc, Impossible Foods Inc., Nestle, Perfect Day, The Hain Celestial Group, Inc., and Tesco PLC

How This Report Can Add Value

Product/Innovation Strategy

The segment gives a brief overview of the product portfolio of several fermented plant-based alternatives and the new launches and innovations in the market pertaining to these products. For instance, in February 2021, Halsa Foods expanded its product line in the U.S. with the launch of an unsweetened sugar oat milk yogurt alternative. The company has also introduced new organic vanilla oat milk yogurt made with vanilla extract and apple juice.

The section also gives a brief overview of the market status of different applications of the product and key players offering products in those applications.

Supermarkets/hypermarkets have the largest market share in the segment attributed to the presence of various brands and variety in the place. Moreover, supermarkets are consumer friendly as they allow discounts and offers for large shopping bills as well as on specific products, which attracts more consumer attention.

Growth/Marketing Strategy

The fermented plant-based alternatives manufacturers have opted for various development strategies to gain more market share and a competitive edge over other player. Partnerships and collaborations are the most common strategy adopted by companies in the time period January 2018-June 2021.

New product launches and innovations are also prevalent in the market as the demand for plant-based food items is on the rise, and more companies are keen to introduce plant-based alternatives to their product portfolio. For instance, in July 2020, Danone launched its plant based Actimet yogurt drink range, which is produced by using roasted oats and almonds.

Key questions answered in the Report

• What are the current trends in the global fermented plant-based food industry?
• How does the introduction of fermented plant-based alternatives impact the global plant-based food and beverage market?
• What is the growth prospect of fermented plant-based food alternatives in Asia-Pacific?
• Can the vegan trend drive the future of the fermented plant-based food market?
• How is the role of governments regarding food safety issues and changing the landscape of the fermented plant-based alternatives industry?
• Which food type is expected to lead the fermented plant-based alternatives market by 2026?
• What was the market value of the leading segments and sub-segments of the market in 2020, and how is the market estimated to grow during the forecast period 2021-2026?
• How is the industry expected to evolve during the forecast period 2021-2026?
• What are the key developmental strategies implemented by the key players to sustain in the competitive market?
• What are the key growth regions in the fermented plant-based alternatives market?

Global Fermented Plant-Based Alternatives Market

Fermentation of food is an ancient technique developed for the preservation of food products. Fermented foods are also considered as the first type of “processed food” that in the process improve taste as well as the shelf life of food products. Fermented food products were discovered in the early ages. For instance, yogurt was created by Neolithic herdsmen in Central Asia around 6,000 B.C. No artificial cultures were discovered at that time, and hence, people were using natural enzymes to ferment the milk for the production of yogurt. The process was carried out in traditional containers, which had natural enzymes in themselves.

However, fermentation technology has picked up pace and has been witnessing huge growth due to growing consumer awareness for health concerns. Currently, manufacturers of fermented food products are using multiple techniques to produce fermented foods such as lactic acid fermentation, ethanol fermentation, and acetic acid fermentation. Now manufacturers use different types of yeast and bacteria to ensure the right texture and taste of dairy, bakery, meat, and other product categories. For instance, yogurt is produced by fermentation of milk from bacterial cultures such as Streptococcus Thermophilus and Lactobacillus Bulgaricus.

Impact of COVID-19 on Global Fermented Plant-Based Alternatives Market

The COVID-19 outbreak has boosted consumer interest in functional foods to boost immunity and stress management. However, buying behavior of consumers are impacted by the ongoing crises as more consumers are moving toward the online purchase of food products rather than from supermarkets and departmental store.

Global Fermented Plant-Based Alternatives Industry Overview

The global fermented plant-based alternatives market is expected to reach $422.26 million by 2026, with a CAGR of 5.0% from 2021 to 2026. The major factors uplifting the growth of the market are the increasing trend of veganism across the globe coupled with escalating health issues among individuals. Food allergies have also been rising among consumers due to the intake of dairy-based products caused by the reaction of protein present in milk and other dairy products with the body’s immune system. As fermentation can make the body immune to any negative reaction from dairy products, these products are gaining more attention from consumers.

The global fermented plant-based alternatives market is highly fragmented, with the presence of several players in the market. The market has a high industry rivalry as multiple renowned brands are present in the industry, such as Nestle, Perfect Day, Danone, Tesco, and DuPont. The segment also provides details about the competitive strength of the key players operating in the market. For instance, Nestle is a food and beverage company that operates through more than 2000 brands in 186 countries across the globe. The company offers multiple products in its food and beverages portfolio, such as baby food, bottled water, chocolate, and confectionery products. Nestle also has a diverse product offering in plant-based food and beverages such as vegan alternatives to tuna fish named Vuna, plant-based mill protein, creams, and many such products.

Market Segmentation

Global Fermented Plant-Based Alternatives Market by Product

Yogurt is produced naturally by fermentation and contains cultures named Lactobacillus Bulgaricus and Streptococcus Thermophilus. However, the trend for plant-based yogurt has been picking up pace from the past few years as consumers are increasingly adopting plant-based foods in their dietary plans.

Plant-based yogurt has registered the highest demand in the market, majorly due to the availability of the product in multiple flavors while also being enriched with beneficial probiotic bacteria. As consumers nowadays are looking for a wide range of options in their foods, the products are expected to achieve significant growth in the coming years.

Global Fermented Plant-Based Alternatives Market by Application

Supermarkets/Hypermarkets emerged as the most preferred purchasing option for fermented plant-based alternatives across the globe. The retail sales of fermented plant-based food and beverages are expected to increase through supermarkets as consumers are increasing, including plant-based food in their everyday dietary plans. As supermarkets serve the consumer all the everyday needs with multiple options, including plant-based foods, more consumers are inclined toward opting for supermarkets as their buying option.

Global Fermented Plant-Based Alternatives Market by Region

Europe generated the highest revenue of $96.99 million in 2020, which is projected to reach $129.47 million by 2026. The major driver for high demand in Europe is the adoption of plant-based food and beverages in the country as a part of consumer’s diet plans due to growing veganism in the region. It has been estimated by Mintel’s Global New Products Database (GNPD) that 20% of total food launches in the U.K. were vegan in 2020.

Key Market Players and Competition Synopsis

Some of the key companies operating in the market AngelYeast Co., Ltd, Cargill, Incorporated, Chr. Hansen Holding A/S, DuPont, Evonik Industries AG, Yofix Probiotics Ltd., Arla Foods, Danone, Field Roast Foods, General Mills, Inc, Impossible Foods Inc., Nestle, Perfect Day, The Hain Celestial Group, Inc., and Tesco PLC

The companies that are profiled in the report have been selected based on the selective pool of players, primarily Tier-1 (which holds 50-60% of the market) and mid-segment players (comprise of 30-40% share), and small and emerging companies (holds the balance 10-20% share), based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the fermented plant-based alternatives industry.

Global Cocoa Butter Alternatives Market Research Report – Forecast to 2023

The post Fermented Plant-Based Alternatives Market – A Global and Regional Analysis: Focus on Applications, Products, Patent Analysis, and Country Analysis – Analysis and Forecast, 2019-2026 first appeared on CRI Report.