The global nutraceuticals market size is expected to gain momentum by reaching USD 658.11 billion by 2028 while exhibiting a CAGR of 9.3% between 2021 and 2028. Fortune Business Insights in its latest report, titled, “Nutraceuticals Market, 2021-2028.”, mentions that the market stood at USD 320.00 billion in 2020. Factors such as the increasing personalization in nutritional diet and the increasing investment in R&D activities are expected to propel the demand for the product in the forthcoming years.

For instance, in July 2019, General Mills announced its collaboration with GoodBelly to produce and distribute lactose-free yogurts and a probiotic-based cereal to cater to the growing demand from consumers. Therefore, the increasing focus on the personalization of nutrition has propelled companies to introduce healthy food products worldwide.

List of Companies Profiled in the Global Nutraceuticals Market:

Herbalife Nutrition Ltd. (California, United States)
Archer Daniels Midland Company (Illinois, United States)
General Mills (Minnesota, United States)
PepsiCo Inc. (New York, United States)
BASF SE (Mannheim, Germany)
Abbott (Illinois, United States)
Amway (Michigan, United States)
Glanbia Plc. (Ireland)
Danone S.A. (Paris, France)
Nestle S.A. (Vevey, Switzerland)
DRIVING FACTORS

Increasing Investment in Product Development to Favor Growth

In January 2020, Archer Daniels Midland Company announced the acquisition of Yerbalatina Phytoactives, a leading manufacturer of natural plant-based extracts and ingredients. The company with its investment aims to strengthen its position in the market. Similarly, several companies are focusing on investing in R&D activities to develop and introduce health-benefiting food products to cater to the growing demand for nutritious products worldwide. Moreover, the development of natural food products devoid of any harmful substances will boost the global nutraceuticals market growth in the forthcoming years.

REGIONAL INSIGHTS

Asia-Pacific to Remain at Forefront; Demand for Functional Foods to Increase in North America

Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the market during the forecast period. The dominance is attributable to the presence of a large population and the improving living standards in countries such as India, Japan, and South Korea, among others that will boost the demand for nutraceuticals in the region. Moreover, the region stood at USD 124.70 billion in 2020.

The market in North America is expected to hold the second position in the market backed by the increasing demand for plant-based nutritional products and the growing demand for functional food in countries such as the U.S. between 2021 and 2028.

COMPETITIVE LANDSCAPE:

Merger and Acquisition between Major Companies to Brighten their Market Prospects

The global market comprises small, medium, and large companies that are striving to maintain a stronghold. The large companies are focusing to expand their nutraceuticals portfolio by acquiring other small companies. Moreover, other key players are adopting strategies such as facility expansion, partnership, and collaboration to gain a competitive edge over their rivals that will favor the market growth in the forthcoming years.

Key Industry Development:

September 2020 - Nuliv Science introduced a new compound, Senactiv that helps to promote muscle energy and regeneration. The company further reports that the new sports product is manufactured taking into consideration the surging demand for dietary supplements among consumers.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessins....ights.com/nutraceuti

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The global nicotine gum market size was valued at USD 1.49 billion in 2021 and reached USD 1.56 billion in 2022. The market is expected to reach USD 2.17 billion by 2029, exhibiting a CAGR of 4.8% during the forecast period. Rising health awareness and prevalence of illnesses are expected to enhance the market growth. Fortune Business Insights™ presents this information in its report titled “Nicotine Gum Market, 2022-2029.”

List of Key Players Profiled in the Nicotine Gum Market Report

GlaxoSmithKline plc (U.K.)
Johnson & Johnson (U.S.)
Novartis Consumer Health (Germany)
ITC Limited (India)
Cipla Health Limited (India)
Perrigo Company Plc (Ireland)
Fertin Pharma (Denmark)
Alchem International (India)
Revolymer (U.K.)
Driving Factors

Anti-Smoking Campaign Promotions to Facilitate Market Progress

Nicotine gum is a medicine that helps people quit smoking and is used every 2 hours to eliminate smoking cravings. Rising research and development and the promotion of the product by government and non-government firms are expected to enhance product demand. Further, manufacturers focus on promoting anti-smoking campaigns and launch novel products that counter smoking cravings, such as lozenges, gums, and others. Moreover, the rising smoking-related illnesses, such as lung cancers, are expected to enhance product demand. These factors may incite nicotine gum market growth.

However, the side effects of nicotine gum are expected to restrain the market growth during the upcoming years.

Regional Insights

Rising Number of Health Conscious Consumers to Propel Market Growth in North America

North America is expected to dominate the nicotine gum market share due to increasing health-conscious consumers. The market in North America stood at USD 650.47 in 2022 and is expected to gain huge market share in the upcoming years. Furthermore, major brands focus on launching innovative products to enhance their quality and boost brand image globally.

In Europe, the rising nicotine gum product sales in France, Italy, Germany, and the U.K. are expected to enhance the demand for nicotine gums. Furthermore, a strong focus on implementing strategies for quitting smoking is expected to enhance demand.

In Asia Pacific, strong demand for innovative products, is expected to enhance the demand for the product. Furthermore, the rising demand for innovative products and increasing competition between companies are expected to enhance the market growth.

Competitive Landscape

Major Players Launch Novel Products to Reinforce Brand Presence

The prominent companies operating in the market announce novel products to reinforce their brand image globally. For example, Nicorette announced a nicotine gum with ice mint lozenge in May 2019. This product offers a smooth texture and provides a punch of mint flavor. This launch may enable the company to attract consumers and enhance its brand presence globally. Furthermore, companies devise acquisitions, mergers, partnerships, and expansion strategies to enhance their market position.

Browse Summary of This Research Report:

https://www.fortunebusinessins....ights.com/nicotine-g

The global kefir market size is projected to reach USD 1.84 billion by 2027, exhibiting a CAGR of 5.4% during the forecast period. Excellent benefits of fermented dairy products on heart health will prove to be a major game-changer for this market in the coming years. Findings from a 2018 study conducted by researchers from the University of Eastern Finland revealed that men who consume large amount of fermented dairy items such as kefir and yoghurt have a significantly lower risk of developing coronary heart disease. Another study, conducted in Brazil and published in the Journal of Nutritional Biochemistry in 2019, showed that kefir-infused fermented milk improved blood pressure and prevented cardiac hypertrophy. With increasing prevalence of cardiovascular disorders, which are the number one cause of death worldwide according to the WHO, the demand for probiotics-laden ingredients such as kefir is likely to spike, as people become more aware of their potential health benefits.

List of Key Companies Profiled in the Kefir Market Report:

The Icelandic Milk and Skyr Corp (New York, U.S.)
Maple Hill Creamery, LLC (New York, U.S.)
Green Valley Creamery (California, U.S.)
The Hain Celestial Group, Inc. (New York, U.S.)
Nestle S.A. (Vevey, Switzerland)
Emmi AG (Lucerne, Switzerland)
Fresh Made Dairy (Pennsylvania, U.S.)
Biotiful Dairy Limited (London, England)
Danone S.A. (Paris, France)
Lifeway Foods, Inc. (Illinois, U.S.)
Market Opportunity

Increasing Focus on Gut Health to Fight the Coronavirus to Create Opportunities

The COVID-19 pandemic has renewed the debate on maintaining gut health, with several health experts emphasizing and highlighting the critical link between the immune system and the gut. For example, epidemiologists at the King’s College London established through research that gut bacteria release many important chemicals, including Vitamin A, which help regulate and strengthen the immune system. With a vaccine for the coronavirus seeming unlikely in the immediate future, bolstering the gut micro-biome, and the immune system by extension, has become crucial. This is possible, according to the researchers, by consuming healthy amounts of natural probiotics found in drinks such as kefir and fermented foods such as Korean kimchi. The current health crisis, therefore, may generate conditions favorable to the kefir market growth. However, disruptions in supply chains and downturn in economic activities will dampen the growth prospects of the market in 2020.

Regional Insights

High Nutritional Awareness to Power Market Growth in Europe

Europe, where the market size stood at USD 654.78 million in 2019, is expected to dominate the kefir market share during the forecast period. The central growth driver for this region is the widespread awareness about the nutritional requirements to maintain gut health. Emerging trend of healthy snacking is also expected to boost the demand for fermented milk in the region.

Increasing investment in research to investigate the benefits of probiotic food & drinks by companies in North America will fuel the regional market growth. In Asia Pacific, the market will be mainly driven by the growing interest of consumers in novel, flavored probiotic products, especially dairy-based kefir, which held a share of 71.91% in 2019 in the region.

Competitive Landscape

Companies to Align Strategies to Serve Evolving Consumer Tastes

With consumer preferences and tastes undergoing continuous change, key players in this market are constantly evolving their strategies to meet the consumer demand. As a result, companies are developing and introducing novel offerings to broaden their sales horizons and build a strong brand value for their products.

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessins....ights.com/kefir-mark

Curious about app development costs around the world? Check out this informative blog from Sphinx Solution! They break down the expenses of creating apps in different locations, giving you valuable insights into budgeting for your next project. Whether you're a startup or an established business, understanding these cost variations can help you make informed decisions.

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How Much Does it Cost to Maintain an App?

App maintenance is an ongoing investment crucial for your app's success, ensuring it meets user expectations, stays competitive, and remains secure. In this blog, we'll explore what's covered in app maintenance, why it's necessary, and what you should budget for it in 2023.

1. Scope of App Support & Maintenance

Regular updates are essential for various components:

- iOS and Android apps, whether in native or cross-platform tech.
- Web parts and web apps (front-end, back-end, web replicas of mobile apps).
- Native APIs and third-party APIs.
- Database and design files.
- New feature development during maintenance.
- Beyond-the-app technology and assets (e.g., app install ad creatives, onboarding via QR codes or partner integrations, marketing automation, analytics, external app integrations).

2. Activities in App Support & Maintenance

Maintenance involves tasks like:

1. Comprehensive QA testing to identify and fix bugs (a one-time effort for major releases).
2. Bug fixes reported by the client and testing team.
3. Updating the app for OS updates from Apple or Google.
4. Ensuring compatibility with the latest third-party APIs.
5. Performance optimization.
6. Regular code cleanup and repository maintenance.
7. Documentation, creating SDKs, and APIs.
8. Store uploads and server maintenance.
9. Timekeeping and reporting to the client.

3. App Maintenance Plans and Pricing

You can choose a monthly plan based on the number of hours you need for app maintenance. Starting with a lower plan and adjusting as needed is advisable.

4. Skills and Engineers Required

For maintenance of iOS, Android, web front-end, and back-end, you need:

- Native or cross-platform iOS/Android developers.
- Backend developers with relevant tech stack.
- Web front-end developers skilled in HTML, JS, etc.
- Professional app tester.
- UI/UX designer.
- Business analyst and project coordinator.

5. Factors Influencing Maintenance Costs

Several factors affect app maintenance costs in 2023:

- Complexity of the application.
- Hybrid apps for both Android and iOS.
- Integration with third-party sources.
- Location of the app development team (cost varies by region).

6. Reducing Maintenance Overheads

To minimize maintenance costs:

- Build a well-architected app from the start.
- Ensure scalability.
- Have a professional development team.
- Regularly monitor analytics.

7. Benefits of App Maintenance

- A high-performing app every day.
- Scalability.
- Security.
- Improved user engagement and marketing.
- Enhanced third-party service integration.

In conclusion, app development and maintenance are ongoing processes. Expenses continue beyond app creation, but they contribute to the app's success and user satisfaction. Proper maintenance ensures your app remains competitive and functional in 2023 and beyond.

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How Much Does It Cost to Build a Mobile App?

Building a mobile app is a significant investment for both businesses and individuals. In this blog post, we'll delve into the factors influencing mobile app development costs and provide a comprehensive expense breakdown.

The question of how much it costs to develop a mobile app is a common one, especially for those interested in app development. Industry reports suggest that app development costs typically range from $20,000 to $250,000, with an average cost of approximately $172,000. It's important to note that these figures are estimates, and the final cost can vary based on project requirements.

However, the process of app development is not a solo endeavor. It involves a multidisciplinary team of developers, designers, project managers, and quality assurance engineers working together to turn an app idea into a fully functional product. Depending on the complexity and number of features, this process can take anywhere from 3 to 6 months.

Factors That Impact App Development Costs:

1. Mobile App Features and Functionality: The cost of building a mobile app is significantly influenced by the features and functionality you want to include. Complex features can extend development timelines and increase costs.

2. App Design: User interface (UI) and user experience (UX) design play a crucial role in making an app user-friendly. The design choices, whether minimalist or vibrant, should align with your business's identity and user preferences.

3. Operating System: Choosing between Android and iOS impacts development costs. Android app development tends to be more expensive due to longer development times compared to iOS.

4. Backend Infrastructure: A robust backend is essential for app performance and scalability. Costs can rise when implementing features like cloud servers, customer servers, and mobile backend as a service (MBaaS).

5. Geographical Location of the Development Team: The location of your development team affects costs. Developers in the USA may charge more than those in Asian countries, so outsourcing decisions should be made carefully.

6. Cost of Outsourcing: Deciding whether to build the app in-house or outsource to a development agency has cost implications. In-house development offers more control but may require significant initial investments, while outsourcing provides access to expertise and cost savings.

7. Publishing the App: Deploying the app on app stores involves documentation and security protocols, which should be factored into the development cost.

8. App Marketing: Launching an app successfully requires a marketing budget to create buzz and attract users. Consider this as part of your overall app budget.

9. App Maintenance: Building an app is just the beginning. Ongoing maintenance and updates require additional investment, often doubling the initial development cost.

In summary, the cost of developing a mobile app is influenced by various factors, including features, design, operating system, backend infrastructure, development team location, outsourcing decisions, publishing, marketing, and ongoing maintenance. Careful planning and consideration of these factors are essential to manage app development costs effectively and avoid unexpected expenses down the road.

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