travel – Market Industry Forecast News

Microcrystalline Cellulose Market Strengthens Amid Rising Demand for Binders

The global microcrystalline cellulose (MCC) market size was estimated at USD 1,110.54 million in 2023 and is projected to reach USD 1,805.06 million by 2030, expanding at a CAGR of 6.3% from 2024 to 2030. Microcrystalline cellulose is extensively utilized as a binder, filler, and disintegrant in pharmaceutical tablet formulations, as well as a bulking and anticaking agent in the food industry.

Its inert characteristics, high compressibility, and capacity to enhance powder flow properties make MCC a preferred choice in various manufacturing applications. Derived from refined wood pulp, MCC consists of small, loosely packed microcrystals with a large surface area. Its widespread usage spans multiple industries—including food & beverages, pharmaceuticals, and personal care—thanks to attributes such as low bulk density, exceptional binding capacity, and superior compressibility. The production of MCC involves several steps including pulping, purification, hydrolysis, depolymerization, washing and drying, sizing and shaping, and final packaging.

In the pharmaceutical sector, MCC serves as an essential excipient in tablet and capsule production, valued for its chemical inertness and mechanical properties. Simultaneously, rising global health awareness is propelling the demand for dietary supplements and functional foods, in which MCC is increasingly used as a bulking or anti-caking component.

Within personal care and cosmetics, MCC functions as a texture modifier, absorbent, and binding agent. The expanding cosmetics market and consumer preference for high-quality products are driving growth in MCC usage in this segment. The ingredient’s versatility continues to bolster its appeal across diverse end-use sectors.

Despite its broad utility, MCC production—based on cellulose sources like wood pulp and cotton—can be cost-intensive. This limits its application in cost-sensitive regions or sectors. Additionally, regulatory compliance varies by region and product category, potentially adding to operational complexity and cost.

Order a free sample PDF of the Microcrystalline Cellulose market Intelligence Study, published by Grand View Research.

Key Market Trends & Insights

North America led the global market with a 33.0% share in 2023.
The U.S. market is expected to show consistent growth in the coming years.
Wood-based MCC dominated the source segment, accounting for 64.7% share in 2023.
The powder form of MCC was the most prominent, leading the market in 2023.
Pharmaceuticals remained the leading application segment, contributing 34.0% of the market share in 2023.

Market Size & Forecast

2023 Market Size: USD 1,110.54 Million
2030 Projected Market Size: USD 1,805.06 Million
CAGR (2024–2030): 6.3%
Largest Market in 2023: North America

Leading Microcrystalline Cellulose Companies

Several key players dominate the MCC market, including:

Roquette Frères – A global leader inplant-based ingredients with strong expertise in MCC for food, pharmaceutical, and cosmetic sectors.
JRS PHARMA
Asahi Kasei Corporation – A diversified multinational focused on sustainable MCC production.
SEPPIC
International Flavors & Fragrances Inc.
Apollo cientific Ltd. – A provider of specialty chemicals and intermediates for pharmaceutical and biotech sectors.
Ankit Pulps – Known for GMP-compliant manufacturing and R&D capabilities in MCC production.
Godavari Biorefineries Ltd.
DFE Pharma
Fengchen Group Co., Ltd.
Foodchem International Corporation

Explore Horizon Databook – The world’s most expansive market intelligence platform developed by Grand View Research.

Conclusion

The global microcrystalline cellulose market is witnessing steady growth, fueled by its extensive application across pharmaceuticals, food & beverages, and personal care industries. With favorable properties like inertness, binding efficiency, and compressibility, MCC remains a critical excipient and additive. As consumer demand for health-focused and high-quality products increases, and as industries seek reliable functional ingredients, MCC’s relevance continues to rise. However, production costs and regulatory considerations may present challenges in specific markets. Nevertheless, the ongoing innovation and investment by major players are expected to support long-term growth and market expansion.

Construction Equipment Market Driven by Technological Advancements and Automation

The global construction equipment market was valued at USD 207.14 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2030. The rise in urbanization across developing nations, along with increasing government initiatives to modernize existing infrastructure, is driving a surge in construction activity. This, in turn, is fueling demand for machinery such as excavators, loaders, and dump trucks. As infrastructure development accelerates worldwide, demand for earthmoving and material handling equipment is projected to grow, further propelling the expansion of the global construction equipment market.

Governments in developing countries are allocating more funds toward infrastructure upgrades, which is boosting construction activities. For example, India has been actively improving its road network to ensure smooth transportation of resources. In June 2022, the Indian Minister of Road Transport and Highways announced 15 new national highway projects valued at USD 1.7 billion in Patna and Hajipur, Bihar. Similarly, in March 2023, Singapore’s government revealed plans to begin construction on the new Terminal 5 (T5) at Changi Airport in 2025. The T5 expansion aims to alleviate congestion at the current airport. These infrastructure projects are increasing demand for road construction and material handling equipment, such as forklifts, pavers, and dozers, thereby reinforcing the global market’s growth.

The integration of advanced technologies into construction equipment is expected to further boost market growth during the forecast period. Original equipment manufacturers (OEMs) are leveraging this trend to introduce innovative products and attract more customers. For instance, in January 2023, John Deere launched new battery-powered agricultural and construction machinery. The company cited factors such as population growth, reduced availability of arable land, and rising greenhouse gas emissions as key considerations behind these technological advancements.

However, the high cost of construction equipment and the growing preference among contractors for rental solutions are anticipated to hinder market growth. Many contractors opt to rent equipment for specific project durations rather than invest in ownership, which often ties up significant capital and affects other operational areas.

Get a preview of the latest developments in the Global Construction Equipment Market! Download your FREE sample PDF today and explore key data and trends

Regional Insights

In 2023, the North American construction equipment market was valued at USD 40.61 billion. A major contributor to rising equipment demand in the region is the rapid development of smart cities. Initiatives such as the Smart Cities Project under the U.S. Economic Development Program are driving regional growth. Advanced machinery for earthmoving, road building, and material handling is being increasingly adopted to support these urban development projects.

Key Players in the Construction Equipment Market

The following leading companies dominate the construction equipment sector and shape industry trends. Their financials, strategies, and product portfolios help map the supply network:

Caterpillar, Inc
CNH Industrial America LLC
Deere & Company
Doosan Corporation
Escorts Limited
Hitachi Construction Machinery Co., Ltd.
Hyundai Construction Equipment Co., Ltd.
J C Bamford Excavators Ltd.
Komatsu Ltd.
KUBOTA Corporation
LIEBHERR
MANITOU Group
SANY Group
Terex Corporation
AB Volvo
Wacker Neuson SE
XCMG Group
Zoomlion Heavy Industry Science & Technology Co., Ltd.

Gather more insights about the market drivers, restrains and growth of the Construction Equipment Market

Smokehouse Market Driven by Demand for Premium-Quality Smoked Meat and Fish Products

The global smokehouse market size is anticipated to reach USD 176.7 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 2.8% from 2024 to 2030. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth.

Key market participants have been focusing on innovation and new product development to manufacture environment-friendly components using latest technologies. Most manufactures have been focusing on electric grills to help reduce air pollution caused on account of burning charcoal and wood.

North America was the dominant region occupying over 35.0% of the revenue share in 2017. It is projected to account for a major share of the market over the forecast period on account of increasing popularity among young adults for cookouts.

Europe is expected to account for the second largest market share in 2017. In addition, the demand for portable products is expected to grow over the forecast period owing to increase in the number of family outings and picnics.

The smokehouse market is characterized by the presence of major companies as well as small- and medium-scale regional players. Some of the major players in the market engage in strategic developments to boost their sales and revenue by expanding their reach and providing customized services to customers.

Key players operating in the industry are The Weber-Stephen Products LLC, KitchenAid, Lynx Grills, and Viking Range Corporation among various others.

Get a preview of the latest developments in the Smokehouse Market! Download your FREE sample PDF today and explore key data and trends

Smokehouse Market Report Highlights

The outdoor segment dominated the market with a revenue share of 58.8% in 2023. This dominance is attributed to the growing popularity of outdoor cooking and barbecuing, which has become a favored pastime for many consumers.
Electric grill accounted for the largest revenue share of 44.6% in 2023. This significant share is attributed to the convenience and ease of use of electric grills, making them popular among consumers.
North America’s smokehouse market accounted for the largest revenue share of 37.4% in 2023. This dominance is attributed to the high prevalence of grill ownership in the region, with nearly every household owning a grill.

Key Smokehouse Company Insights

Some key companies in the smokehouse market include R & V Works (Cajun Fryer), Alto-Shaam, Inc., Town Food Service Equipment Co., Inc., Weber-Stephen Products LLC, Pro Smoker, and others. Companies are focusing on launching new features and increasing product ranges. Moreover, key players are taking several strategic initiatives, such as mergers and acquisitions and partnerships with other major companies.

R & V Works, known for its Cajun Fryer brand, is a prominent player in the smokehouse market. It specializes in outdoor cooking products, including fryers, smokers, and grills, which are highly regarded for quality and performance. Furthermore, its product line includes the Cajun Express Smoker, which is designed to deliver consistent smoking results with minimal effort.
ScottPec, Inc. is a notable smokehouse market player known for its innovative and high-yield food processing equipment. Its smokehouses are designed to deliver the best smoke flavor and color in the shortest possible smoking cycle time.

List of Key Players in the Smokehouse Market

R & V Works (Cajun Fryer)
Alto-Shaam, Inc.
Town Food Service Equipment Co., Inc.
Weber-Stephen Products LLC
Pro Smoker
ScottPec, Inc.
Smokehouse Products
Walton’s Smokehouse
Viking Range Corporation
Lynx Grills, Inc.
Wolf Steel, Ltd.
Char-Broil LLC

Gather more insights about the market drivers, restrains and growth of the Global Smokehouse Market

Riding Boots Market Expansion: Focus on Customization and Personalized Fit Options

The global riding boots market size is expected to reach USD 2.42 billion by 2030, registering a CAGR of 5.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing enthusiasm for cruiser, sport, and dirt bikes for long road trips and adventurous off-roading is expected to be a key growth driver. Rising road safety awareness in order to prevent road traffic crashes is anticipated to drive the market demand for various safety gear including riding boots.

Stringent government policies to encourage motorcycle safety and adoption of safety gear, such as riding shoes for riders as well as pillions are expected to positively influence the market growth. The rising incidence of road crashes is one of the major challenges for governments and authorities. The introduction of effective and sustainable safety solutions for such accidents is expected to further drive product demand. According to the Global Status Report on Road Safety 2018, published by the World Health Organization (WHO), in 2016, 1.35 million people lost lives in various motorbike and road traffic accidents. Rising awareness regarding rider safety is expected to drive the bike shoes market over the forecast period.

Sport and race boots was the largest product segment in the market, with a share of more than 60% in 2018 and is anticipated to continue its dominance during the forecast period. Key manufacturers offer innovative boots, developed from composites materials for utmost safety and comfort. For instance, in July 2018, Alpinestars S.p.A launched the newest series of riding gears including riding boots called Tech 10. These boots are designed using the latest Front Flexion Control Frame technology with a resigned foot shell and slimmer outsole. According to the company, the new buckles added to the footwear are durable and better to operate. Such product launches are anticipated to boost the bike gear market over the forecast period.

Access the Riding Boots Market Size, Share & Trends Analysis Report By Product, (Sports & Race Boot, Cruising & Touring Boot, Adventure & Dual Sport Boot), By Distribution Channel, By Region, And Segment Forecasts, 2024 – 2030

Europe was the largest market, with a share of more than 30.0% in 2018. The strong foothold of the largest sports bike manufacturers including Ducati, Aprilia, Benelli, and Cagiva is expected to ensure the continuous popularity of motorcycling in Europe and thus, in turn, will expand the scope of riding footwear over the next few years. Key product manufacturers, such as Alpinestars S.p.A, LeMans Corporation, Dainese S.p.A, FOX, FLY Racing, and TCX S.r.l., focus on launching new products to gain a greater consumer base.

Riding Boots Market Report Highlights

The Asia Pacific riding boots is anticipated to register the fastest CAGR over the forecast period. The growing affluence and urbanization in the Asia Pacific contribute to expanding the riding boots market

The cruising & touring boots segment is expected to register the fastest CAGR of 6.2% during the forecast period owing to the rising popularity of long road trips as a recreational activity

The online distribution channel is expected to register the fastest CAGR during the forecast period, as these channels offer a high level of convenience to the consumers

Key Riding Boots Company Insights

Some of the key companies in the global riding boots market include Alpinestars S.p.A, LeMans Corporation, Dainese S.p.A, FOX, FLY Racing, and GAERNE USA. Organizations are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives.

Alpinestars S.p.A is an Italian manufacturer of safety equipment for motorsports and action sports. They offer a wide range of specialized products for various motorsports and outdoor activities, including MotoGP, motocross, motorcycling, Formula One, World Rally Championship, WEC, V8 Supercars, and NASCAR. Additionally, the company provides custom riding boots for various riders and activities.

LeMans Corporation provides a diverse selection of riding boots designed to meet the demands of different riding styles and preferences. Their riding boots are crafted with high-quality materials to ensure durability, comfort, and protection for riders.

Order your free sample copy of “Riding Boots Market Report 2024 – 2030, published by Grand View Research

Key Riding Boots Companies:

The following are the leading companies in the riding boots market. These companies collectively hold the largest market share and dictate industry trends.

Alpinestars S.p.A
LeMans Corporation
Dainese S.p.A
FOX
FLY Racing
Gaerne Spa
TCX S.r.l.
Horze
Parlanti Roma
Tattini Boots

Recent Developments

In March 2023, Gaerne Spa launched the new Gaerne SG.22 Off-Road boots for the motocross and enduro riding community. These boots boast a range of innovative features and endorsements from top riders and teams. It incorporates the Gaerne Dual Stage Pivot System 1.0, which provides ankle support with two limit switches to effectively limit hyperflexion, hyperextension, and lateral movements.

About Grand View Research:

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone:-1-415-349-0058

Email: sales@grandviewresearch.com

Savory Ingredients Market Trends: The Rise of Plant-Based and Natural Ingredients

The global savory ingredients market is expected to reach USD 15.62 billion by 2030, according to a new report by Grand View Research, Inc. exhibiting a CAGR of 4.7% during the forecast period. Savory ingredients are widely used as seasoning and flavoring agents in the food industry.

Growing disposable income has increased the consumption of time-saving food product, which is projected to boost the market growth over the coming years. The growing usage of savory ingredients in the food service industry is also expected to propel market growth.

Savory ingredients are used in the animal feed & pet food industry to enhance food flavors. The growing demand for packaged pet food in Asia Pacific is anticipated to drive market demand over the coming years.

Companies such as DSM, Kerry Group, Givaudan, Diana, and Lesaffre have adopted acquisition strategies to enhance their product offerings and regional presence. This approach has helped companies acquire distribution centers and diversify their offerings across many end-use application markets.

Access the Savory Ingredients Market Size, Share & Trends Analysis Report By Product, By Source, By Form, By Application, By Region, And Segment Forecasts, 2024 – 2030

Savory Ingredients Market Report Highlights

The natural segment dominated the market with 64.6% share in 2023. One of the main factors driving the rise in demand for natural savory ingredients is the growing awareness of consumers towards their health.

The powder segment dominated the market with a share of 41.9% in 2023. This is mainly owing to the ease and flexibility it offers.

The food segment dominated the market with a share of 66.1% in 2023. Modern consumers are showing a growing interest in discovering different flavors and experiences when making food decisions.

Asia Pacific dominated the global savory ingredients market with a share of 72.2% in 2023.

Key Savory Ingredients Company Insights

Some of the key companies in the global savory ingredients market include Ajinomoto Co., Inc.; Angel Yeast Co., Ltd.; Sensient Technologies Corporation, and Tate & Lyle. Vendors in the market are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies.

Angel Yeast Co., Ltd., is a major producer of yeast located in Yichang, Hubei Province, China. The company focuses on making different kinds of yeast and yeast-based products for use in the food, beverage, pharmaceutical, and chemical sectors.

Kerry Group plc. is a global company that specializes in ingredients and flavors, with its main offices located in Tralee, Ireland. The company is now a prominent player in the taste and nutrition sector, particularly concentrating on savory components. Kerry Group functions through two main business divisions: Taste & Nutrition and Consumer Foods.

Order your free sample copy of “Savory Ingredients Market Report 2024 – 2030, published by Grand View Research

Key Savory Ingredients Companies:

The following are the leading companies in the savory ingredients market. These companies collectively hold the largest market share and dictate industry trends.

Ajinomoto Co., Inc.
Angel Yeast Co., Ltd.
Vedan International (Holdings) Limited.
Kerry Group plc.
Sensient Technologies Corporation,
Givaudan 2024
DIANA Group
Symrise
Lesaffre
Tate & Lyle