Latest news with #GlobalData
Yahoo
12 hours ago
- Business
- Yahoo
Bread winners? The emerging ingredients in bakery
Much like in the confectionery sector, the bakery industry is facing changing consumer habits – and what can appear to be conflicting demands. Bakery remains a core part of consumer diets around the world but shoppers are becoming increasingly aware of the nutritional profile of products, fuelling demand for healthier options. At other times, however, a desire to indulgence can shape purchasing behaviour. Both trends offer opportunities for bakery companies and the right mix of ingredients can help businesses capture market share. Against that backdrop, how can bakery groups use their product recipes to meet demand? Ai Palette, GlobalData's innovation and consumer insights platform, has identified ingredients it believes offer opportunities for bakers to tap into either the rising interest in healthier products, or can attract consumers seeking 'novel experiences' through unusual flavours, or appeal to demand for 'high quality' ingredients in bakery – and sometimes a mix of two or three of these trends. Ai Palette, like Just Food, is owned by GlobalData. The UK-based research and analytics group analysed Ai Palette's database to identify one 'stand-out ingredient' across six geographic markets – the US, the UK, Germany, the UAE, China and Australia. Each ingredient is classified as having 'high growth' and 'high engagement' based upon consumers interactions with them across social media, retail and restaurant industry sites over recent years. In a new research report, GlobalData argues why the six ingredients – miso, morello cherries, cardamom, fig, durian and purple yam – should be of interest to bakery manufacturers, provides suggestions on ingredient pairings and reviews how brands can use the ingredients in their products. GlobalData says the key market for miso is the US, with morello cherries the principal ingredient of interest in for bakery groups operating in the UK and cardamom for those doing business in Germany. The analysts selected fig as of interest to product developers selling bakery products in the UAE, durian for NPD teams in China and purple yam for research execs in Australia. The engagement score GlobalData gives to an ingredient is based on the number of data points in the month. Growth is then calculated based on the increase of the monthly data points over the last two-year period to provide a two-year CAGR. Miso's moment According to GlobalData, the fermented paste has grown in popularity due to its health benefits and its sweet and spicy taste profile. Estimates suggest there are more than 1,000 types of miso, which is crafted primarily from steamed soybeans, grains like rice or barley, salt and koji. The ingredient is making inroads into the bakery category, with GlobalData's report highlighting the foodservice market in the US. Miso's flavour profile ranges from sweet to salty, with lighter varieties generally being sweeter and darker ones exhibiting a more intense umami taste. The researchers say miso is touted for its potential health benefits, including antioxidant properties and probiotics but nutritionists advise moderation due to the ingredient's high sodium content. Nevertheless, miso's popularity is growing in a range of western markets, from Japan to the UK, the report adds. And, looking ahead, GlobalData suggests miso could be used to boost the functional benefits of stevia, citing PureCircle securing approval for a patent to developing a version of the ingredient especially for bakery products. The company intends to enhance the functional properties of the sugar substitute stevia by incorporating phytoestrogens, derived from sources including miso, into upcoming formulations. Why morello cherries are ripe for bakery innovation Morello cherries, known for their tart flavour, were originally grown in the UK. They are commonly found in syrups, jams and as garnishes but, GlobalData says, the ingredient has increased in popularity among UK bakery manufacturers. Used in products like cheesecakes, cupcakes and panna cotta can elevate taste and also attract consumer interest through vibrant colour contrasts. 'For manufacturers, this versatility is crucial; it allows for innovation and differentiation in a competitive market,' the report reads. 'As consumer preferences shift towards unique and visually appealing desserts, leveraging morello cherries can enhance product offerings and drive sales.' Morello cherries, the researchers say, can help bakery manufacturers tap into demand for quality. GlobalData cites consumer research the company conducted in the second quarter of this year in which it asked: 'What does 'good value for money' mean to you when buying bakery, cereals and morning goods?' Top of the list of answers came 'high quality products/ingredients' at 36%. However, 'low price/cheap' was second at 27%. The scores may cause furrowed brows among NPD teams at bakery manufacturers but GlobalData argues morello cherries can provide an answer. 'Morello cherries can enhance the overall quality of products while remaining cost-effective, making them an appealing option for manufacturers,' the report reads. 'By incorporating morello cherries, producers can meet consumer expectations for both superior quality and reasonable pricing, ultimately fostering customer loyalty and driving sales in a competitive market.' The research suggests the UK is a market where the ingredient is proving popular among bakery manufacturers. GlobalData points to recent new products from Tesco, from foodservice supplier Dawn Foods and from upmarket, Mars-owned chocolate retailer Hotel Chocolat. Yes to purple yam Purple yams, also known as ube, are gaining recognition for their nutritional benefits and culinary versatility. Native to South East Asia, the starchy vegetable boasts a vibrant purple hue, a sweet, nutty flavour and is rich in antioxidants. They are a staple in Filipino cuisine, used in both sweet and savoury dishes and, as health-conscious consumers seek out nutrient-dense foods, purple yams are emerging as a popular choice in bakery. GlobalData's researchers have picked out Australia as a potential market for the ingredient, especially in Australia. The researchers suggest Australian Gen Zers are more likely than older cohorts to have a positive sentiment towards the health properties of purple yams. They cite consumer research from the first quarter of the year in which more than half Australians expressed a 'positive' view towards antioxidants. 'This presents a future opportunity for manufacturers to position purple yams as a nutritious option rich in antioxidants, appealing to health-conscious consumers,' they write. The ingredient is emerging specifically in independent restaurants in Australia (Nimbo's launch of an Ube Toastie in 2024 has led to industry awards) but there is education to be done. More than half of Australians (52%) remain unfamiliar with the ingredient, GlobalData says. . "Bread winners? The emerging ingredients in bakery" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 hours ago
- Business
- Yahoo
Eli Lilly eyes SoC status as Jaypirca proves superior to Imbruvica in CLL/SLL
Eli Lilly's Jaypirca (pirtobrutinib) has been shown to be superior to Johnson & Johnson (J&J) and AbbVie's star Bruton's tyrosine kinase (BTK) inhibitor Imbruvica (ibrutinib) in chronic lymphocytic leukaemia (CLL) and small lymphocytic lymphoma (SLL). Conducted in treatment-naïve patients with CLL and SLL, the first-ever head-to-head trial found that Lilly's oral therapeutic provokes a better overall response rate (ORR) in patients compared with Imbruvica. Topline results from the Phase III BRUIN CLL-313 (NCT05023980) trial do not yet include progression-free survival (PFS) as the value is not yet mature. However, preliminary trends suggest that the non-covalent BTK inhibitor can also extend PFS for patients in both indications. This builds on the positive results of the Phase III BRUIN CLL-321 trial (NCT04666038), which found that Jaypirca can reduce the risk of disease progression or death by 46% compared with Gilead's Zydelig (idelalisib) plus Biogen and Genentech's Rituxan (rituximab), and Teva Pharmaceuticals' Treanda (bendamustine) plus Rituxan. Jayprica poised to become SoC BTK inhibitors are a highly popular option for the treatment of B-cell malignancies such as CLL and SLL, with many physicians using them in the first-line setting. At the forefront of this drug class is Imbruvica, which raked in sales of $3.35bn in 2024 alone, according to AbbVie's 2024 financial report. However, a report from GlobalData, the parent company of Clinical Trials Arena, forecasts that Jaypirca is likely to become the BTK inhibitor market leader for CLL, with the therapy projected to make $5bn by 2032 — holding a 60% market share. The positive topline results of the BRUIN CLL-313 trial could also result in Jaypirca being considered as standard of care (SoC) in CLL and SLL, further enhancing the therapy's potential in this competitive market. Lilly's executive vice-president Jacob Van Naarden stated: 'The positive topline results of this Phase III study will help us to build evidence supporting the potential role of Jaypirca in patients with CLL and SLL — hopefully enabling future regulatory approvals that allow physicians to use the medicine in various disease settings.' "Eli Lilly eyes SoC status as Jaypirca proves superior to Imbruvica in CLL/SLL " was originally created and published by Clinical Trials Arena, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Iran to lead conventional refinery capacity growth in the Middle East by 2030
The Middle East is anticipated to be a pivotal region in terms of the global conventional refinery capacity additions, expected to contribute over a quarter of the total capacity additions by 2030. This growth is underpinned by large-scale projects, particularly in Iran and Iraq. Both countries are leveraging their vast crude oil reserves to expand refining infrastructure, aiming to meet rising domestic demand, reduce imports of refined products, and strengthen export capabilities. Iran is set to dominate conventional refinery capacity additions in the Middle East, accounting for over 40% of the region's capacity additions by 2030. This can be attributed to several factors, including government support, strategic infrastructure expansion, and a focus on energy self-sufficiency. A total of 15 new-build and expansion projects are expected to come online in Iran by 2030. New-build projects lead the count and are also set to account for over 90% of the country's total capacity additions by 2030. Among these, Jask II is a major refinery project with substantial capacity additions during the outlook period. Petro Tejarat Shahin is the operator and equity owner of this new-build project. Currently in the front-end engineering design stage, the project is expected to commence operations in 2028 with an announced capacity of 6,000 barrels per day (bpd). Other significant new-build projects such as Siraf and Shahid Ghasem Soleimani further underscore Iran's commitment to expanding its refining capacity during the outlook period. Iraq is expected to follow Iran in terms of refinery capacity additions, with nearly 1.9 million barrels per day of capacity expected to be added by 2030. The country's refinery landscape is equally shaped by both new-build and expansion projects. New build projects lead the capacity additions in the country, accounting for 65% of the total capacity additions by 2030. Around 28% of the upcoming refinery capacity is under construction while the remaining is in the preconstruction stages. Basra II is a major refinery new-build project in Iraq with substantial capacity additions of 300bpd during the outlook period. South Refineries is the operator and equity owner of this project set to begin operations in 2027. Maysan and Nassiriya II are some other major new-build projects with significant capacity additions during the outlook period. Oman stands third in terms of refinery capacity additions, with nearly 695,000bpd of capacity expected to be added by 2030. New-build projects account for most of the capacity additions in the country. Among these, Duqm IV and Duqm III are some major projects with substantial capacity additions, with 300bpd and 200bpd, respectively. Further analysis on global conventional refinery projects can be found in GlobalData's new report, Conventional Refinery New Build and Expansion Projects Analysis by Type, Development Stage, Key Countries, Region and Forecasts to 2030. "Iran to lead conventional refinery capacity growth in the Middle East by 2030" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Global uranium production expected to grow modestly in 2025, due to temporary mine disruptions
After an estimated 12.4% rise in 2024, global uranium production is projected to grow by 2.6% to 62.2 kilotonnes in 2025. Growing global concerns about climate change and the need for low-carbon energy sources, including for power-hungry data centres, have led to renewed interest in nuclear power. However, despite this positive outlook, production growth in 2025 is expected to be moderate due to temporary disruptions at major mines such as Kazakhstan's Inkai deposit. On 1 January 2025, operating activities at the Inkai mine were suspended due to Inkai LLP's failure to secure the requisite approvals from the relevant authorities. This lack of essential permits compelled the company to halt production. Theproduction suspension was subsequently resolved later that month when the necessary paperwork was finalised. However, leading data and analytics company GlobalData anticipates this temporary disruption to result in a 2.5% decline in the country's uranium output in 2025. In Canada, uranium production has been significantly supported by the restart of major mines, including McArthur River. Previously shut down due to low prices and difficult market conditions, these mines have resumed operations and contributed to Canada's position as the second-largest uranium producer, with a 23.4% share of global output in 2024. Meanwhile, Namibia's uranium sector is poised for substantial growth following a period of subdued production. In 2024, production reached 7.1 kilotonnes, driven by the restart of the Langer Heinrich mine. Looking ahead, a 17.5% year-over-year increase is expected in 2025, mainly due to the ramp-up at Langer Heinrich and stable output from Husab and Rossing. Looking ahead, over the forecast period, global uranium production is expected to grow at an 8% compound annual growth rate (CAGR), reaching 91.6 kilotonnes by 2030. Several uranium projects are under development or expansion, particularly in key production regions such as Kazakhstan, Canada, and Australia, positioning the industry for long-term growth as demand for nuclear energy continuesto rise. "Global uranium production expected to grow modestly in 2025, due to temporary mine disruptions" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Travel Daily News
2 days ago
- Business
- Travel Daily News
Russian aviation market remains profitable despite Angara Airlines crash
The Angara Airlines crash in Russia may cost insurers $20–$25 million, raising premiums and straining the aviation reinsurance market in 2025. Following the news that, on July 24, 2025, Angara Airlines Flight 2311, an Antonov An-24RV turboprop, crashed near Tynda in Amur Oblast in eastern Russia, resulting in the tragic loss of all 48 people on board – including 42 passengers and 6 crew, Chandini Sharma, Insurance Analyst at GlobalData, a leading data and analytics company, comments: 'This catastrophic accident will cost around $20 to $25 million to the Russian aviation insurance market. Claims paid by Russian insurers for the AZAL plane crash in December 2024, and this accident will not only reduce the profitability of the Russian aviation insurance market in 2025 but also increase the reinsurance rate for Russian insurers. It signals a growing pattern of severe and frequent losses that will reshape the risk environment for both the Russian and international aviation insurance and reinsurance markets, which are already reeling under pressure from the costly Air India plane crash in June 2025. 'The crash not only represents an immense human tragedy but also marks one of the largest single claims events in the recent Russian aviation insurance market. The total loss will comprise around $10 million of aviation hull and the rest as liability claims. Insurers will cover liability claims related to passenger fatalities, governed by Russian law and the internationally binding Montreal Convention. Initial estimation of liability claims, based on applicable regulations, could go up to $9 million. However, this could further escalate based on the investigation report. 'Russian insurers will bear a major portion of the loss, as aviation insurers retain most of the risk and cede less than 60% of the gross written premiums (GWP) to reinsurers during 2020-24. In 2024, insurers ceded 32.6% of the GWP to reinsurers. 'SOGAZ JSC, the leading Russian insurer, confirmed that it holds the civil liability policy for Angara Airlines. As the company ceded only 56.2% of the total aviation liability GWP, this incident will push the company's aviation business into losses. However, as aviation contributes only 0.6% of the company's general insurance GWP, this will not have a significant impact on its overall performance. 'This disaster comes amid ongoing turbulence in Russia's aviation insurance landscape, destabilized by elevated claims severity, inflation in repair costs, and disruptions linked to the Russia-Ukraine aircraft leasing dispute. However, the Russian aviation insurance market has been historically highly profitable, with the loss ratio remaining well below 30% in the last three years. The recent AZAL (based on earlier industry estimates of around $30 million) and Angara Airlines crash-related claims could go up to $50 million compared to the estimated aviation GWP of $298 million in 2025. 'With recent major aviation losses, insurance premiums and reinsurance rates are expected to increase. International reinsurers are expected to revisit their terms and conditions. Also, the ongoing investigations into the crash could result in regulatory action and trigger additional business interruption claims.'
