Friday, January 15, 2021

Sensor Fusion: Combination of Multiple Sensors for Enhanced Measurement Estimations

 

Sensor Fusion Market size was valued at USD 4.06 Billion in 2019

Sensor Fusion, also known as multi-sensor, is the art of integrating multiple physical sensors to enhance the application and system performance. Sensors are now deployed in a broad spectrum of applications, such as smart mobile devices, automotive systems, healthcare, oil exploration, climate monitoring, and industrial controls. Sensors are used everywhere, and now the advancement in sensor technology is enabling them to mimic human beings. This is possible now because of sensor fusion technology. Sensor fusion leverages a microcontroller to combine the individual data collected from multiple sensors to get a more reliable and precise overview of the data. Sensor fusion enables context awareness, which, in turn, can extensively benefit the Internet of Things (IoT).

Sensor fusion is the ability to bring together input from multiple radars, lidars, and cameras to form a single model or a picture of the vehicle’s surrounding. The resulting model is an accurate representation as it balances the strengths of different sensors. Sensor fusion dynamically improves the lane detection performance as more sensors are used to boost the perception capability. Sensor fusion collects data from each sensor used through software algorithms to offer the most comprehensive and accurate environmental model. The escalating use of sensor fusion in consumer electronics and automotive applications is propelling the sensor fusion market’s growth. According to Emergen Research, the Global Sensor Fusion Market is forecast to attain a market valuation of USD 16.72 Billion by 2027, registering a remarkable CAGR of 19.6%.

Importance and Working of Sensor Fusion Algorithms

Sensor fusion algorithms integrate real-time sensor data that assists in reducing doubts in the object’s location and position. They combine data from several sensors to estimate the correct positions of the objects. Sensor fusions mostly rely on data from numerous same types of sensors, also known as “competitive configuration”. However, when merging data from different types of sensors, such as amalgamation of object proximity data and speedometer data, more often results in an in-depth interpretation of the object examined.

For instance, during a foggy climate, a radar sensor offers more precise data than a LiDAR sensor would. Whereas, in clear weather, LiDAR sensors’ spatial resolution is much more reliable than radar sensor. Every sensor has its own pros and cons, which is why sensor fusion algorithms take into consideration multiple types of sensors. The data from these various sensors are complementary, and the setup is typically called a complementary configuration.

Due to each sensor’s strengths and weaknesses, a robust algorithm gives preference to some critical data points over others. For instance, speed sensors are more precise than parking sensors, so those sensors are mostly preferred. The importance varies, and they generally depend on the specific use. 

Sensor fusion algorithms examine all the input data and generate output with enhanced accuracy and reliability. To measure the kinematic state of a vehicle, two equations and models are applied ‒ namely predict equation that used motion model and update equation that uses the measurement model. The motion model gives data about an object in periodic intervals, and the measurement type is more involved with the vehicle sensors’ dynamics. One of the essential foundations of these algorithms is the Kalman filter.

·       Overview of Kalman Filter

A Kalman filter refers to an equation that obtains data inputs from numerous sources and predicts unknown values, even in the case of augmented signal noise. Majorly applicable in control and navigation tech, Kalman filters confer the prediction of uncertain values more precisely than specific predictions by single measurement method.

As these algorithms are the most commonly used sensor fusion application and provide a resilient foundation for the concept, sensor fusion and Kalman filters are generally considered synonymous. Kalman filters are one of the most popular algorithms in sensor fusion and were invented by Rudolph Kalman in 1960. Now the algorithm is widely deployed in smartphones and satellites from navigation and tracking.

Factors Influencing the Growth of Sensor Fusion Market

The escalating trend of autonomous vehicle and advanced driver assistance systems (ADAS) are further augmenting the need for new radar, GNSS, lidar, and camera sensors in the vehicles. The increasing penetration of smartphones globally and the augmenting trend of micro-sized electronics are anticipated to add to traction to the market’s growth. Moreover, the growing application of fusion technologies to survey and predict environmental conditions, such as temperature, pressure, and humidity, have created an added demand for sensor fusion technologies.

The augmenting need for application-based location detection is attracting consumers and investors to invest in the technology and deploy them across the globe, thereby contributing to the market growth. The increasing advancement in ADAS and the surging use of the GPS-Inertial Measurement Unit fusion is highly beneficial for solving mounting errors. For instance, Tesla’s Autopilot automated driving feature, which is an example of ADAS, has the ability to carry out operations like maintaining the lane of the vehicle on a highway by predicting the accurate location of the vehicle from the data obtained from a forward-facing camera and steering control.

Collaborations and agreements are a common occurrence in the market and are primarily contributing to the market’s expansion. For instance, in April 2020, Foresight Autonomous Holdings Ltd., an Israel-based leader in automotive vision systems, joined forces with FLIR Systems Inc., to develop and commercialize the former’s QuadSight Vision System, which is based on sensor fusion, combined with infrared cameras of FLIR Systems to a broad spectrum of customers. In 2019, Ceva Inc. gained a controlling stake in the smart sensor technology business of Hillcrest Lab. Under the acquisition, CEVA’s intelligent sensing technology’s portfolio has the chance to expand to include CPU vision and AI processing for cameras and sound processing for microphones.

In December 2020, Himax Technologies Inc., joined forces with Edge Impulse to enable the accelerated development and deployment of the machine learning model. The AI vision and sensor fusion solution are designed for predictive maintenance, asset tracking, occupancy detection, and condition monitoring.

STMicroelectronics and Mobileye have formulated a strategy to develop EyeQ 5 system on chip in association with each other, to be deployed in 2020, to perform the function of central computer control and sensor fusion in the fully autonomous driving vehicles. Companies actively focused on developing technologies linked with IoT and smart driving are anticipated to create lucrative future opportunities. The increasing demand for monitoring and controlling utilities in home automation and the escalating development in robotics is forecast to influence the market growth due to sensor fusion technology’s wide application in mobile robot navigation.

Monday, December 28, 2020

ADAS and Autonomous Driving Components | Enabling Intelligent and Futuristic Driving

ADAS and Autonomous Driving Components Market

As the automotive sector continues to develop to chase a distant reality of fully autonomous vehicles, there is augmenting demand for Advanced Driver Assistance Systems(ADAS) from the sector. Advanced driver assistance systems (ADAS) refer to electronic systems that aid drivers in various driving-related purposes. ADAS incorporate automated technology like cameras and sensors to screen and detect obstacles or driver errors to give put proper and timely responses. The latest technological upgrades in ADAS now enable the much-needed safety features, such as Adaptive Cruise Control (ACC), Traction Stability, and Emergency Call Unit features, among others. 

The majority of road accidents happen due to human errors, and these systems play a vital role in mitigating accidents. ADAS is equipped with safety features that are designed to reduce the risks of accidents and collisions through technologies that immediately alert the driver about the impending problems, implements safety measures, and overtakes the control of the vehicles, as and when required. 

ADAS and Autonomous Driving Components: History and Trends

ADAS was first implemented about five decades ago, with the extensive adoption of anti-locking braking systems. The first-stage ADAS included blind spot information systems, anti-lock brakes, adaptive cruise control (ACC), and lane departure warning, among others. The industry is now witnessing extensive technological development and advancement. 

With increasing congestion on the roads, there has been an upsurge in the frequency of fatal accidents and injuries, thereby augmenting the demand for ADAS and autonomous technologies. According to Emergen Research, the Global ADAS and Autonomous Driving Components Market are predicted to attain a valuation of USD 118.03 billion by 2027, expanding at a remarkable CAGR of 21.9% throughout the projected timeframe. 

The rising attraction and incorporation of ADAS technology in fleet trucks and large vehicles has contributed immensely to the expansion of the market. With their rising incorporation in logistics, a large number of administrative initiatives have led to the emergence of stringent policies regarding the safety of the driver and the vehicle. This factor is anticipated to play a pivotal role in the expansion of the market. 

ADAS technology relies on data obtained from multiple data sources, such as automotive imaging, LiDAR, image processing, radar, in-car networking, and computer vision. Additional inputs from other sources such as vehicle-to-vehicle communication and vehicle-to-infrastructure communication are also possible. Modern cars are equipped with ADAS integrated into the electronics of the vehicle and the integration of these systems into a massive number of new vehicles has paved the way for partially automated driving, as of now.

Increasing development in technologies of ADAS has assisted in reducing capital expenditures and has enabled the migration of some features from high-end vehicles to mass-produced vehicles. ADAS and autonomous driving components have already become one of the rapidly growing segments in the automobile electronics. 

Advanced Features of ADAS and Autonomous Driving Components

Some of the critical components of ADAS are adaptive cruise control (ACC), automatic parking, anti-lock braking, automotive navigation system, automotive night vision, and collision avoidance system, among others. ADAS enables autonomous cars to offer self-driving features, but ADAS differs from vehicle to vehicle. 

Adaptive Cruise Control 

Adaptive Cruise Control (ACC) maintains a specific speed and space between two back-to-back vehicles. These control systems have the power to provide brake or accelerate to maintain a safe distance between two cars, automatically. Some of the advanced systems are equipped with “stop and go” features that enable the car or any other vehicle to stop and accelerate again to attain a specific speed. 

Alcohol Ignition Interlock Devices 

Alcohol ignition interlock devices restrict the driver and prevent them from starting the car in a case where the alcohol level exceeds the pre-described levels. These systems have been encouraged to be incorporated in all the new vehicles on the orders of The Automotive Coalition for Traffic Safety and the National Highway Traffic Safety Administration.

Anti-lock Braking System 

Anti-lock braking systems restore traction to the car’s tires by monitoring and regulating the pressure of the brake when the vehicle has an increased chance of skidding. Besides assisting in cases of skidding, ABS also assists drivers who might let go of vehicle control. They have now become standard in-vehicle systems. 

Significant Components of ADAS and Autonomous Driving Components

 Several other features impart a better understanding of ADAS. These components are sensors, processors, software, mapping, and actuators. Sensors used in the vehicles confer real-time and actionable data that powers the ADAS. Processors are widely used to develop everything from real-time 3D model to calculate the proximity of the other vehicles. The software incorporates machine learning and AI to enable better management of the different scenarios during driving. The capabilities of the system include mapping stores and updating the geographical location gathered through sensors to predict its exact location. Actuators in ADAS facilitate connection with other electrical systems in vehicles. The systems control everything from electric power steering to automatic acceleration and braking.

Global Market Landscape

The ADAS and Autonomous Driving Components Market is growing exponentially and is predicted to further expand during the projected timeframe. The market has extended presence in prominent geographical areas, such as North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America and Europe were the dominating regions of the industry due to the augmenting demand for secure and systematic vehicles. Rising government initiatives concerning the passengers’ safety and vehicles safety are driving the need for ADAS in regions.

Asia Pacific is forecast to be the fastest-growing region in the ADAS and Autonomous Driving Components Market. The regional expansion can be attributed to the augmenting production of electric vehicles in countries such as India, Japan, and China. Moreover, government initiatives to encourage the incorporation of autonomous systems in vehicles is driving the regional growth of the industry. For instance, the Ministry of Road Transport and Highways in India has decided to adopt ADAS features by 2022. Electronic Stability Control and Automatic Emergency Braking are set to be implemented in phase 1 of the plan. 

The Growing Competition in the Industry

The ADAS and Autonomous Driving Components Market is relatively competitive and is dominated by the major players such as Continental AG, ZF Friedrichshafen, Aptiv, RobertBosch, Hyundai Mobis, Denso, Magna International, Analog Devices, and Valeo. The companies and major manufacturers are actively engaged in technological advancements to develop innovative ADAS. For instance, Mobileye, an Intel company, created an extensive ADAS of active and passive systems. Passive Systems send alerts to the drivers to notify them of likely rough situations to confer enough time for a response. Active systems inform the drivers of the problem and overtake vehicles’ control depending on the situation. 

Another such development is the acquisition of Red Pine Software, an ADAS expert, by TTTech Auto, a leader in the autonomous driving safety software platform, in January 2020. The acquisition allowed TTTech Auto to augment its software development capabilities for ADAS and Automated Driving projects. 

Future of Automotive Industry

Automotive connectivity and ADAS are anticipated to be the crucial elements in shaping the future of the automotive industry as it has the potential to break the ground for fully autonomous vehicles. The growth of ADAS and autonomous drivingcomponents and rising investment and funding for R&D activities of autonomous driving have attracted several hi-tech firms, thereby creating lucrative prospects. 

The changing dynamics of consumers and major original equipment manufacturers (OEMs) and the escalating requirement of resilient security features for the enhanced shielding of drivers and passengers, and the incorporation of 5G tech for connectivity solutions in the vehicles are further anticipated to boost the industry growth over the connected timeline. Unprecedented demand for autonomous vehicles is expected to create lucrative opportunities in the future, with Tesla, Toyota, and Honda tapping into the nascent market, thereby further augmenting the demand for ADAS and autonomous driving components. 

Monday, December 14, 2020

Drivers of the Trans-Catheter Mitral Valve Implantation Market include Advancements in Techniques of Trans-Catheter Mitral Valve Implantation, Substantial Prevalence of Mitral Regurgitation, and Favorable Reimbursement Scenarios

Transcatheter Mitral Valve Implantation Market
Market Insights:

Mitral regurgitation (MR) is the most common heart valve disease, affecting around four million people in the U.S. Typically, open-heart surgeries are a standard mode of treatment for MR, although in certain cases, there are grave risks associated with the surgery.  Till now, patients have had to resort to medical treatment to deal with MR, but for patients with specific types of mitral valve dysfunction that leads to MR, clipping the mitral valve will be a good option, especially when the risks of undergoing surgery are dire. Transcatheter mitral valve implantation can help lower the incidences of heart failure and the resulting hospitalizations. It is a less invasive option for patients for whom open-heart surgery is not an option.

Untreated, MR can ultimately result in chronic heart failure, which is the leading reason for hospitalization in Europe and the U.S. It occurs when the mitral valve between two chambers of the heart cannot close completely, and the blood flow leaks backward. It involves symptoms like fatigue, shortness of breath, swollen feet, and inability to exercise or perform daily activities. This leads to increased stress on the heart, enlargement of the heart, heart dysfunction, and even heart failure. The demand for a treatment method is significantly high, which has urged companies and academia to explore the effectiveness of transcatheter mitral valve implantation and is also a major driver for the growth of the market.

The leading companies in the industry include Abbott Laboratories, Medtronic, LivaNova, Edward Lifesciences, MValve Technologies, HLT Medical, Colibri Heart Valve, Neovasc, NeoChord, Biotronik Private Limited, Transcatheter Technologies GmbH and Venus Medtech. The competitive landscape has witnessed numerous deals and developments recently.

Medtronic has partnered with the medical device company incubator, The Foundry, to build and invest in a company dedicated to working on an innovative transcatheter mitral repair (TMVr) technology. The partnership brings together The Foundry’s work in the transcatheter mitral valve repair and replacement field and Medtronic’s position in intellectual property and Structural Heart. The deal creates structured financial tranches from both the companies and gives Medtronic exclusive rights to the resulting corporation dubbed Half Moon Medical, subject to achieving some clinical and technical milestones. Half Moon was also awarded U.S. FDA approval for an early feasibility study in patients having severe and symptomatic MR.

While Half Moon awaits its first implants, another company, TidalHealth,  has achieved a medical milestone after successfully implanting MitraClip for treating MR in the heart. Delmarva’s first two implantations of MitraClip were conducted at TidalHealth Peninsula Regional in late September. The number of patients it can benefit will be a primary driver for the growth of the transcatheter mitral valve implantation market in the coming years, especially in regions like Europe and North America that have a high active patient count.

Tuesday, December 1, 2020

Increasing use of Wearable Biosensors for Real-Time, Accurate Healthcare Monitoring will Drive the Biosensors Market Growth

Biosensors Market
Market Insights:

Biosensors are analytical devices that can detect the concentration or presence of biological analytes, microorganisms, or biological structures. Biosensors have numerous applications in industries, such as medical, food, and agriculture, among others. They have also found a vital place in COVID-19 diagnosis. SD Biosensor’s STANDARD Q COVID-19 IgM/IgG Duo Test Kit for the rapid detection of SARS-CoV-2 in humoral fluid received EUA (Emergency Use Authorization) from the US FDA in April. The company has also co-developed a SARS-CoV-2 point-of-care (PoC) antigen test with Roche Diagnostics.

A potential cross-industry application that would boost both the biosensors and the wearable devices markets in the following years is the increasing use of wearable biosensors for real-time, accurate healthcare monitoring. A biosensor that can be printed directly on the skin has recently been created by a team of researchers headed by Penn State University’s Larry (Huanyu) Cheng, the most interesting use of which would possibly be for diagnosing COVID-19. The leading companies in the biosensors sphere include Abbott Laboratories, Molecular Devices Corporation, Biosensors International, Bio-Rad International, DowDuPont Inc., Pinnacle Technology, Thermo Fisher Scientific, Siemens Healthineers, TE Connectivity Corporation, and Roche Diagnostics. Both companies and scientists have been exploring the uses of biosensors, and recent years have seen rapid development on the research front.

In a major breakthrough, researchers from the  University of Virginia School of Medicine have developed a simple improvement to fluorescent biosensors prevalent in both medical and scientific research, making it easy for scientists to study biological processes, develop new treatments, explore the happenings within individual cells, and solve other problems connected to different diseases. The biosensors can detect individual targets inside a cell and illuminates them, allowing scientists to monitor and measure biological occurrences that have otherwise been impossible. Researchers Shen Zhang and Hui-wang Ai found that adding 3-aminotyrosine turned the green biosensor red, as explained in the research paper published earlier this month. They tested their enhanced biosensor on insulin-making cells in the pancreas and were able to track the effect of high levels of glucose on the cells.

This week, a team from the Albert Einstein College of Medicine and Duke University has fabricated a novel type of genetically-encoded neural biosensor operating in near-infrared light. The biosensor will help in the non-invasive study of neuron firing at deeper levels in a living brain while tracking the oxygen consumption. The researchers hope that these near-infrared biosensors will become key molecular tools to be used in animal models of human diseases and cognitive neuroscience research, which will help scientists see the mechanisms of different behavioral and emotional regulation in the brain. These developments and the subsequent advancements in the application of biosensors would be a significant driver for the growth of the biosensors market in the following years.

Wednesday, October 28, 2020

Teleradiology Services and AI-Based Solutions are Projected to Profit from Fresh Capital Investments

 Market Insights:

Healthcare became the only priority across the world after the onset of the COVID-19 pandemic, and while some issues came to the top of that list, the rest were put on the back burner to reduce the risk of patients getting infected. Since healthcare settings, such as hospitals and diagnostic centers, were a hotspot for the virus, it seemed unsafe for people to visit them. However, advancements in technology provided some medical professionals the opportunity to work remotely. Teleradiology is when a radiologist interprets medical images without being at the location where the images are generated. Teleradiology services are now being offered by mobile imaging companies, hospitals, urgent care facilities, and private practices. 

Teleradiology has been prevalent across the modern radiology practice and has aided practices in getting multispecialty, after-hours, and geographic coverage. It reduces turnaround time and increases underserved access. However, the quality assurance involved in offsite interpretation is crucial, and IT integration solutions might be the solution smaller practices need to successfully adopt teleradiology. After the imaging for elective procedures’ backlog was given the green light in the third quarter and teleradiology services and AI-based solutions are projected to profit from fresh capital investments. Flexible payment options, scale-up in capacity, redistribution of workload, and reduced human contact, will help the growth of the teleradiology services market. Dental teleradiology is also a growing sector in the teleradiology services market.

A recent survey conducted by American College of Radiology found that 45% of radiologists who were not connected to a teleradiology company resorted to teleradiology. Radiology practices can opt for coverage of a fixed portion of their projected volume internally and depend on teleradiology firms or business-to-business and spot-market radiologist hires to take the additional cases, thereby lowering the fixed labor costs. In the pre-COVID-19 phase, numerous radiologists were already using home PACS workstations. Another survey published in the Journal of American College of Radiology indicated that before the COVID-19 outbreak, teleradiology had only been utilized for call as well as overnight shifts. After the pandemic outbreak, more and more practices have been installing home workstations and switching daytime shifts to their internal teleradiology

The leading companies in the sector include viz., Teleradiology Solutions, Philips Healthcare, USRAD Holdings, Inc., MEDNAX, Everlight Radiology, ONRAD, Inc., AGFA Healthcare, RAMSOFT, Inc., Telediagnostic Solutions PVT. LTD., and CARESTREAM HEALTH, Inc. Recently, in June, MEDNAX, the Floride-based company, announced that it was selling its Radiology Solutions business line and change its name to the previous ‘Pediatrix Medical Group.’ 

Increasing Focus on Vehicle Safety and Connectivity and Policies Governing Vehicle Telematics are Expected to Propel the Growth of the Automotive Telematics Market.

With the rising number of private vehicles, the surging demand for tech-savvy automobiles, and the advent of autonomous vehicles, vehicle safety has become more important than ever. Something as revolutionary as a self-driving car needs to come with a promise of error-free driving for a customer to trust and invest in the technology. Automotive telematics is a massive and growing industry focused on collecting mobility-related information, particularly from private and commercial vehicles, and developing wide-ranging services catering to both individuals and companies. These services include info-mobility services, information systems to support car insurance, and ad hoc investigation for planning purposes, among others. Automotive telematics encompasses the applications of multimedia entertainment, Global Positioning System (GPS) navigation, wireless connectivity, and automatic driving assistance systems.

Vehicle insurance has also become a key focus of buyers, virtually an appendage to the vehicle. A growing segment within the automotive telematics sector is insurance telematics, and Millenials might be a major reason behind this growth. There is an evident shift in car purchasing trends, wherein Millenials constitute a substantial portion of car buyers, and it might have a considerable impact on the industry. For instance, usage-based insurance options offer insurers new opportunities to accurately determine premium, price, and risk. These schemes can potentially identify risky drivers, allowing insurers to better estimate the price of their products while also giving the driver the chance to moderate their driving to make roads safer. However, in the case of usage-based insurance or pay-as-you-drive auto insurance, there is an apparent need for a more precise assessment of how driver behaiour affects the risk of an accident or an insurance claim. 

The increasing focus on vehicle safety and connectivity and the policies governing vehicle telematics are expected to propel the growth of the automotive telematics market. The overall improvement in vehicle performance and intelligence and road safety would also help the broader adoption of the technology. Nonetheless,  the general threats associated with data breach, the cost of installation, and an inadequate internet infrastructure might impede the growth of the market in the coming years. The leading companies in the automotive telematics industry include Cartrack, Harman International, I.D. Systems, Inc., Masternaut Limited, Omnitracs, Airbiquity Inc., Verizon, Trimble Inc., Mix Telematics, and Tomtom Telematics B.V.

The four main elements viz., safety, navigation, connectivity, and security that automotive telematics incorporates into one Smart, nearly-indestructible piece of technology, which has already revolutionized the way we look at driver, vehicle, and road safety, will boost market growth in the coming years.

Curiosity is a Key Element Driving Consumers to try Alternative Meats, Plant-Based Meats Which is Propelling the Alternative Protein Market

 For reasons ranging from health consciousness to environmental consciousness, there is a surge in consumer interest and awareness about alternative proteins across the globe. This demand is evident in regions that have relatively better economic stability among the populace or higher levels of disposable income. The alternative proteins trend has moved beyond being a fad. A January 2020 report by Food Insight found that curiosity is a key element driving consumers to try alternative meats, besides the nutritional facts of plant-based meats, which are considered healthier. The onset of the COVID-19 pandemic has further intensified consumer inclination towards healthier eating options.

A recent survey by Food Insight focused on the changes in the buying behavior of customers post-COVID-19. The survey reported that in June 2020, 39% of the survey takers were focusing on eating healthier, and over 30% of the poll takers were spending on groceries based on the healthfulness of the food item in August 2020, while a net decline was continued to be seen by fast food or quick service eateries. This growing consumer inclination towards incorporating a healthy diet, mainly after the onset of the COVID-19 pandemic, would be a major driver for the growth of the market. Moreover, with the increasing popularity of dietary regimes, such as veganism, alternative proteins are attracting more consumers looking for nutritional substitutes that accommodate their preferences. Legislations in support of labeling alternative proteins, like the Real Marketing Edible Artificials Truthfully Act of 2019 or the “Real MEAT Act,” are also expected to benefit the market in the coming years.

The leading companies in the alternative proteins space are Cargill Incorporated, Roquette Frères Le Romain, The Archer Daniels Midland Company, Kerry Inc., Royal Avebe UA, DuPont de Nemours Inc., Corbion NV, Ingredion Incorporated, Glanbia PLC, and Tate & Lyle PLC. Plant-based meat makers like Impossible Foods and Beyond Meat have grown exponentially to establish a leading position in the emerging domain. Beyond Meat recently inked an agreement with Jiaxing Economic & Technological Development Zone (JXEDZ) to build manufacturing facilities in the zone and a state-of-the-art facility to produce plant-based meat products, including pork, chicken, and beef, under the Beyond Meat brand in China. A leading casual dining chain in the U.S., TGI Fridays, has also partnered with Beyond Meat to use Beyond Beef for new proprietary items in its chili menu.

Green Boy Group, a supplier of organic ingredients, recently launched the Plant-Meat Protein powder developed for plant-based meat substitutes. It is available in different variants with protein derived from mung bean, pea, chickpea, or fava bean and can be used to make textured plant-based proteins (TPP) either in the form of granule or crisp. Growing investments in alternative proteins, existing companies trying to optimize their product offerings, and conventional meat companies seeking to penetrate the alternative meats sphere will propel the market growth in the following years.