Food Texturing Agent Market Research, Analysis, Segmentation, Trends, Size And Forecasts, Competitive Analysis, SWOT Analysis

Food Texturing Agent Market Introduction

The food texturing agent market refers to the market for ingredients that are added to food products to enhance their texture, mouthfeel, and stability. Food texturing agents are used in a wide range of food products, including baked goods, dairy products, meat and poultry products, beverages, and confectionery.

Food texturing agents can be categorized into several different types, including emulsifiers, stabilizers, thickeners, gelling agents, and fat replacers. Emulsifiers are used to help mix ingredients that would normally separate, such as oil and water. Stabilizers are used to maintain the structure of a food product, particularly in frozen or refrigerated products. Thickeners are used to increase the viscosity of a food product, while gelling agents are used to give a product a gel-like consistency. Fat replacers are used to replace some or all of the fat content in a food product, often to reduce its calorie count.

The demand for food texturing agents is driven by several factors, including changing consumer preferences for food texture, the need for longer shelf life and improved product stability, and the desire to reduce fat content and improve the nutritional profile of food products. In addition, the growing demand for convenience foods and the increasing popularity of processed and packaged foods are expected to drive the growth of the food texturing agent market in the coming years.

Major players in the food texturing agent market include Cargill, Tate & Lyle PLC, DuPont de Nemours, Inc., Ingredion Incorporated, Kerry Group plc, CP Kelco, and Ashland Global Holdings Inc. These companies are constantly innovating and introducing new products to meet the evolving needs of the food industry.

Food Texturing Agent Market Industry Analysis

The food texturing agent market is a rapidly growing industry that is driven by increasing consumer demand for healthier, more natural food products. Texturing agents are used in a wide range of food products to improve the texture, taste, and appearance of food items. These agents are used in food processing to create a variety of textures such as soft, crispy, creamy, and crunchy.

The global food texturing agent market is projected to grow at a significant rate in the coming years due to the increasing demand for processed and convenience foods. The market is segmented by type, source, and application. The main types of food texturing agents include hydrocolloids, emulsifiers, starches, and protein. The hydrocolloids segment is expected to grow the fastest due to its wide range of applications in various food products.

The source segment of the food texturing agent market includes plant-based, animal-based, and synthetic sources. The plant-based segment is expected to dominate the market due to the growing demand for natural and organic food products. The application segment of the market includes bakery & confectionery, dairy & frozen desserts, sauces & dressings, meat & poultry products, beverages, and others.

The global food texturing agent market is dominated by North America and Europe due to the high consumption of processed and convenience foods. The Asia-Pacific region is expected to witness the fastest growth rate in the coming years due to the increasing demand for functional food products and the growing population.

The major players in the food texturing agent market include Ingredion Incorporated, Cargill, Inc., Archer Daniels Midland Company, DuPont de Nemours, Inc., Tate & Lyle PLC, Kerry Group PLC, CP Kelco U.S., Inc., Ashland Inc., FMC Corporation, and BASF SE. These companies are investing in research and development to create new and innovative food texturing agents to cater to the growing demand for healthier and natural food products.

Food Texturing Agent Market Trends

The food texturing agent market is constantly evolving, driven by changing consumer preferences, advancements in technology, and increasing demand for healthier and natural food products. Here are some of the current trends in the food texturing agent market:

Demand for natural and organic food products: Consumers are becoming more health-conscious and are demanding natural and organic food products. This trend is driving the growth of plant-based food texturing agents such as gums, pectin, and carrageenan, as they are perceived as more natural and healthy alternatives to synthetic and animal-based texturing agents.
Clean label: Consumers are increasingly looking for simple and clean ingredient lists on food labels. Food texturing agents that are clean label, i.e., they do not contain artificial preservatives, flavors, or colors, are gaining popularity.
Functionality and versatility: Food texturing agents that can provide multiple functions, such as stabilizing, emulsifying, and thickening, are in high demand. Manufacturers are also looking for texturing agents that can be used across multiple food applications to reduce costs and simplify their supply chains.
Innovative product development: Manufacturers are investing in research and development to create new and innovative food texturing agents that can improve the texture, taste, and appearance of food products while also meeting the demands of consumers for natural and healthy food products.
Plant-based protein texturing agents: With the increasing popularity of plant-based diets, there is a growing demand for plant-based protein texturing agents such as soy, pea, and wheat proteins. These texturing agents are used in meat analogs and vegan products to provide a meat-like texture and improve the nutritional profile of these products.
Asia-Pacific market growth: The Asia-Pacific region is expected to witness the fastest growth rate in the food texturing agent market due to the growing population, increasing disposable income, and changing consumer preferences for healthy and natural food products. The region is also a major producer of food ingredients, which is driving the growth of the food texturing agent market in the region.

Market Size And Forecast

As I mentioned earlier, the global food texturing agent market size was valued at USD 10.2 billion in 2020, and it is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028. According to market research reports, the market is expected to reach a value of USD 14.2 billion by 2028.

Here are some of the factors that are driving the growth of the food texturing agent market:

Increasing demand for processed and convenience foods: The rising demand for processed and convenience foods is one of the primary drivers of the food texturing agent market. Texturing agents are used in a wide range of food products to improve the texture, taste, and appearance of food items, and the increasing consumption of these foods is driving the demand for texturing agents.
Growing popularity of natural and organic food products: Consumers are becoming more health-conscious and are demanding natural and organic food products. This trend is driving the growth of plant-based food texturing agents, as they are perceived as more natural and healthy alternatives to synthetic and animal-based texturing agents.
Technological advancements: The food texturing agent market is witnessing technological advancements that are enabling the development of new and innovative texturing agents. For instance, the use of nanotechnology is being explored to develop texturing agents with enhanced functionality and stability.
Increasing demand for functional ingredients: Food manufacturers are increasingly using functional ingredients such as texturing agents to improve the texture and mouthfeel of food products. This trend is driving the growth of the food texturing agent market.
Asia-Pacific market growth: The Asia-Pacific region is expected to witness the fastest growth rate in the food texturing agent market due to the growing population, increasing disposable income, and changing consumer preferences for healthy and natural food products. The region is also a major producer of food ingredients, which is driving the growth of the food texturing agent market in the region.

Food Texturing Agent Market Competitive Landscape

The global food texturing agent market is highly competitive, with several major players operating in the market. Some of the key players in the market include:

Cargill Inc.
DuPont de Nemours, Inc.
Ingredion Incorporated
Kerry Group plc
Tate & Lyle plc
Archer Daniels Midland Company
Ashland Global Holdings Inc.
BASF SE
CP Kelco
FMC Corporation

These companies are focusing on strategic initiatives such as mergers and acquisitions, product launches, and partnerships to expand their market presence and strengthen their product portfolio. For instance, in 2020, CP Kelco launched a new gellan gum product, which can be used in a variety of food applications such as plant-based milk, plant-based yogurt, and confectionery products. Similarly, in 2021, Tate & Lyle announced the expansion of its portfolio of plant-based texturizing ingredients, which includes a range of tapioca-based starches and texturizers.

Additionally, companies are also investing in research and development to create new and innovative texturing agents that can meet the evolving needs of consumers and food manufacturers. For instance, in 2020, DuPont Nutrition & Biosciences announced the launch of a new carrageenan product that can provide a unique texture and mouthfeel to dairy products.

Overall, the competitive landscape of the food texturing agent market is expected to remain intense, with companies focusing on innovation, product differentiation, and strategic partnerships to gain a competitive edge in the market.

Food Texturing Agent Market Competitive Landscape

The global food texturing agent market is highly competitive, with several major players operating in the market. Some of the key players in the market include:

Cargill Inc.
DuPont de Nemours, Inc.
Ingredion Incorporated
Kerry Group plc
Tate & Lyle plc
Archer Daniels Midland Company
Ashland Global Holdings Inc.
BASF SE
CP Kelco
FMC Corporation

Food Texturing Agent Market Intelligence

Here are some additional insights and intelligence about the food texturing agent market:

Regional Analysis: The food texturing agent market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America and Europe are currently the largest markets for food texturing agents due to the high demand for processed foods and the presence of major food manufacturers in these regions. However, the Asia-Pacific region is expected to witness the fastest growth rate during the forecast period, driven by the increasing population, rising disposable income, and changing consumer preferences.
Product Innovation: Companies operating in the food texturing agent market are focusing on product innovation to gain a competitive edge in the market. For instance, several companies are developing texturing agents that can provide a unique texture and mouthfeel to plant-based foods, which are becoming increasingly popular among consumers. Additionally, companies are also exploring the use of nanotechnology to develop texturing agents with enhanced functionality and stability.
Clean Label Ingredients: Consumers are increasingly demanding clean label ingredients in their food products, which has led to the development of natural and organic texturing agents. Companies are investing in the development of clean label texturing agents to cater to this demand.
Regulatory Environment: The use of food texturing agents is regulated by various agencies such as the Food and Drug Administration (FDA) in the United States and the European Food Safety Authority (EFSA) in Europe. Companies must comply with the regulations and guidelines set by these agencies to ensure the safety and quality of their products.
Industry Consolidation: The food texturing agent market is witnessing industry consolidation, with major players acquiring smaller companies to expand their product portfolio and market presence. For instance, in 2020, Cargill Inc. acquired BioBased Technologies LLC, a manufacturer of natural polymers and additives, to expand its portfolio of sustainable texturing agents.

Overall, the food texturing agent market is expected to witness significant growth during the forecast period, driven by the increasing demand for processed and convenience foods, the growing popularity of natural and organic food products, and the need for functional ingredients to improve the texture and mouthfeel of food products.

Food Texturing Agent Market Industry Trends

Here are some industry trends in the food texturing agent market:

Increasing Demand for Plant-Based Foods: There has been a significant increase in the demand for plant-based foods, driven by the growing consumer awareness about the health and environmental benefits of a plant-based diet. Texturing agents are widely used in plant-based foods to improve their texture and mouthfeel, and companies are developing innovative texturing agents specifically for plant-based foods.
Focus on Clean Label Ingredients: Consumers are increasingly demanding clean label ingredients in their food products, which has led to the development of natural and organic texturing agents. Companies are investing in the development of clean label texturing agents to cater to this demand.
Growing Popularity of Convenience Foods: Convenience foods such as ready-to-eat meals, snacks, and bakery products are becoming increasingly popular among consumers due to their convenience and ease of use. Texturing agents are widely used in these products to improve their texture, stability, and shelf life.
Innovation in Texturing Agents: Companies are investing in research and development to create new and innovative texturing agents that can meet the evolving needs of consumers and food manufacturers. For instance, companies are developing texturing agents with enhanced functionality and stability using nanotechnology.
Shift Towards Sustainable Ingredients: There is a growing focus on sustainability in the food industry, and companies are developing sustainable texturing agents to cater to this demand. These texturing agents are made from renewable and biodegradable sources and are designed to have a minimal impact on the environment.

Overall, the food texturing agent market is witnessing several industry trends, including the increasing demand for plant-based foods, the focus on clean label ingredients, the growing popularity of convenience foods, innovation in texturing agents, and the shift towards sustainable ingredients. Companies that can adapt to these trends and develop innovative products are expected to gain a competitive edge in the market.

Food Texturing Agent Market Analysis

The food texturing agent market refers to the use of various agents, including gelling agents, emulsifiers, stabilizers, and thickeners, to modify the texture and mouthfeel of food products. These agents can be derived from both natural and synthetic sources and are used in a wide variety of food products, including dairy, bakery, confectionery, sauces, dressings, and beverages.

Market Size and Growth: The global food texturing agent market size was valued at USD 10.1 billion in 2020 and is expected to grow at a CAGR of 4.9% from 2021 to 2028. The growth is primarily driven by the increasing demand for convenience food products, especially in the Asia Pacific region, and the growing trend of clean label and natural ingredients.

Market Segmentation: The market can be segmented by type, source, application, and region. By type, the market is segmented into gelling agents, emulsifiers, stabilizers, and thickeners. By source, it can be segmented into natural and synthetic. By application, the market can be segmented into bakery and confectionery, dairy and frozen desserts, sauces and dressings, beverages, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players: The key players in the food texturing agent market include Cargill, Incorporated, Ingredion Incorporated, DuPont de Nemours, Inc., Tate & Lyle PLC, Kerry Group PLC, Archer Daniels Midland Company, CP Kelco, Ashland Global Specialty Chemicals Inc., Koninklijke DSM N.V., and FMC Corporation.

Regional Analysis: The Asia Pacific region is expected to witness significant growth during the forecast period due to the increasing demand for convenience food products, particularly in countries such as China, India, and Japan. The North American and European markets are expected to remain mature but show steady growth due to the increasing demand for natural and clean label ingredients. Latin America and the Middle East and Africa regions are expected to show moderate growth during the forecast period.

Conclusion: The food texturing agent market is expected to grow steadily due to the increasing demand for convenience food products and the growing trend of clean label and natural ingredients. The market is highly competitive, with key players investing in R&D activities to develop innovative products and expand their market share.

Food Texturing Agent Market Segmentation

The food texturing agent market can be segmented based on several factors, including type, source, application, and region.

Type:

Gelling agents: These agents are used to create a gel-like texture in food products. Examples include agar, carrageenan, and gelatin.
Emulsifiers: These agents are used to create a stable mixture of two immiscible substances, such as oil and water. Examples include lecithin, mono- and diglycerides, and polysorbates.
Stabilizers: These agents are used to maintain the texture and consistency of a food product. Examples include xanthan gum, pectin, and cellulose.
Thickeners: These agents are used to increase the viscosity and thickness of a food product. Examples include starch, gum arabic, and guar gum.

Source:

Natural: These agents are derived from natural sources, such as plants, animals, and microorganisms. Examples include agar from seaweed, gelatin from animal bones and skin, and pectin from fruit.
Synthetic: These agents are chemically synthesized in a laboratory. Examples include carboxymethyl cellulose, propylene glycol alginate, and sodium stearoyl lactylate.

Application:

Bakery and confectionery: These agents are used in products such as cakes, bread, cookies, and candies to improve texture, stability, and shelf life.
Dairy and frozen desserts: These agents are used in products such as ice cream, yogurt, and cheese to improve texture, viscosity, and stability.
Sauces and dressings: These agents are used in products such as ketchup, mayonnaise, and salad dressing to improve viscosity, stability, and mouthfeel.
Beverages: These agents are used in products such as juices, soft drinks, and alcoholic beverages to improve texture, mouthfeel, and stability.
Others: These agents can be used in a wide range of other food products, such as meat, poultry, and seafood.

Region:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Food Texturing Agent Market Forecast

The food texturing agent market is expected to grow at a steady pace in the coming years, driven by various factors such as the increasing demand for convenience food products, the growing trend of natural and clean label ingredients, and the need for texture modification in food products.

According to market research, the global food texturing agent market size was valued at USD 10.1 billion in 2020 and is expected to grow at a CAGR of 4.9% from 2021 to 2028. By the end of the forecast period, the market size is expected to reach USD 14.3 billion.

The Asia Pacific region is expected to witness the highest growth during the forecast period due to the increasing demand for convenience food products, particularly in countries such as China, India, and Japan. The North American and European markets are expected to remain mature but show steady growth due to the increasing demand for natural and clean label ingredients. Latin America and the Middle East and Africa regions are expected to show moderate growth during the forecast period.

Based on type, the stabilizers segment is expected to hold the largest share of the market due to their wide usage in food products such as bakery and confectionery, dairy and frozen desserts, and sauces and dressings. The emulsifiers segment is also expected to witness significant growth during the forecast period due to the increasing demand for stable emulsions in food products.

In terms of source, the natural segment is expected to witness higher growth during the forecast period due to the growing trend of natural and clean label ingredients in food products.

In conclusion, the food texturing agent market is expected to grow steadily in the coming years, driven by various factors such as the increasing demand for convenience food products, the growing trend of natural and clean label ingredients, and the need for texture modification in food products.

Food Texturing Agent Market Growth

The food texturing agent market has been experiencing steady growth in recent years and is expected to continue growing in the future. The growth of the market can be attributed to several factors, including:

Increasing demand for convenience food: The demand for convenience food products such as ready-to-eat meals, snacks, and beverages has been increasing globally. Food texturing agents are used in these products to improve their texture, stability, and shelf life, which has been driving the demand for these ingredients.
Growing trend of natural and clean label ingredients: Consumers are increasingly concerned about the ingredients used in their food products and are looking for natural and clean label ingredients. Food texturing agents derived from natural sources, such as plants and microorganisms, are becoming more popular as they are perceived as being healthier and more natural.
Need for texture modification: Food texture is an important aspect of sensory perception, and texturing agents are used to modify the texture of food products to improve their taste and mouthfeel. This is particularly important in products such as dairy, confectionery, and bakery products.
Technological advancements in food processing: Technological advancements in food processing have enabled the development of new and innovative food products that require specific texturing agents to achieve the desired texture and stability.
Increasing demand from emerging markets: Emerging markets such as China, India, and Brazil are witnessing a rise in disposable income and changing food preferences, leading to an increase in demand for processed food products that require texturing agents.

Overall, the food texturing agent market is expected to continue growing in the future, driven by the above-mentioned factors. However, the market may face challenges such as regulatory constraints on the use of certain texturing agents and the high cost of natural and clean label ingredients.

Food Texturing Agent Market Competitor Analysis

The food texturing agent market is highly competitive and fragmented, with numerous players operating in the market. Some of the key players in the market include:

Cargill, Inc.: Cargill is a leading producer and supplier of food texturing agents such as hydrocolloids, starches, and emulsifiers. The company has a strong presence in the global market and offers a wide range of products for various applications.
Ingredion Incorporated: Ingredion is a global ingredients solutions company that offers a range of food texturing agents, including modified starches, gums, and fibers. The company has a strong presence in North America and Europe.
DuPont de Nemours, Inc.: DuPont de Nemours, also known as DuPont, is a leading supplier of food texturing agents such as gums, hydrocolloids, and emulsifiers. The company has a strong global presence and offers a range of products for various food applications.
Tate & Lyle PLC: Tate & Lyle is a global ingredients and solutions provider that offers a range of food texturing agents such as starches, fibers, and gums. The company has a strong presence in Europe and North America.
Kerry Group: Kerry Group is a global food ingredients and flavors company that offers a range of food texturing agents such as hydrocolloids, fibers, and emulsifiers. The company has a strong presence in Europe and Asia Pacific.

Other notable players in the market include Ashland Global Holdings, Inc., Archer Daniels Midland Company, FMC Corporation, Koninklijke DSM N.V., and CP Kelco.

These players are focusing on product innovation and development, expansion of their distribution networks, and strategic partnerships and collaborations to enhance their market position and gain a competitive edge in the market. They are also investing in research and development activities to develop new and innovative food texturing agents that meet the changing needs and preferences of consumers.

Food Texturing Agent Market Strengths

The food texturing agent market has several strengths that contribute to its growth and competitiveness. Some of these strengths include:

Wide range of applications: Food texturing agents have a wide range of applications in the food industry, including bakery, confectionery, dairy, beverages, and sauces and dressings. This versatility makes them a crucial ingredient in many food products and ensures a steady demand for these agents.
Enhance sensory attributes: Food texturing agents can improve the texture, mouthfeel, and appearance of food products, which can enhance their sensory attributes and overall consumer appeal. This is particularly important in processed food products, where texture plays a crucial role in consumer acceptance.
Improve product stability and shelf life: Food texturing agents can improve the stability and shelf life of food products by preventing ingredient separation and controlling water activity. This helps to ensure that food products maintain their quality and freshness for a longer period of time.
Natural and clean label ingredients: Many food texturing agents are derived from natural sources such as plants and microorganisms, which makes them a popular choice among consumers who are looking for natural and clean label ingredients. This trend towards natural ingredients is expected to drive the demand for these agents in the future.
Technological advancements: Technological advancements in food processing have enabled the development of new and innovative food products that require specific texturing agents to achieve the desired texture and stability. This has created new opportunities for the food texturing agent market and is expected to drive growth in the future.

Overall, the food texturing agent market has several strengths that make it a crucial component of the food industry. Its versatility, ability to enhance sensory attributes and improve product stability and shelf life, natural and clean label ingredients, and technological advancements are some of the key factors driving the growth of this market.

Food Texturing Agent Market Opportunities

The food texturing agent market is expected to see significant growth in the coming years, creating various opportunities for businesses and investors. Here are some of the opportunities in this market:

Growing demand for natural and clean-label ingredients: Consumers are becoming increasingly concerned about the safety and quality of the food they consume. As a result, there is a growing demand for natural and clean-label ingredients, including food texturing agents. Businesses that can provide clean-label food texturing agents are likely to see increased demand.
Expanding food and beverage industry: The food and beverage industry is expanding globally, with an increasing number of food processing and manufacturing facilities being established. As a result, there is a growing demand for food texturing agents to improve the texture and appearance of food products. This presents an opportunity for businesses that produce food texturing agents.
Technological advancements: The development of new and improved food texturing agents that offer enhanced functional properties, such as stability, texture, and mouthfeel, is driving demand in the market. Innovations in technology and research are expected to result in the introduction of new and improved food texturing agents, which can create opportunities for businesses that can produce these agents.
Rising demand for convenience foods: The busy lifestyles of consumers have led to a growing demand for convenience foods. Food texturing agents can be used to improve the texture and appearance of convenience foods, such as frozen meals and snacks. Businesses that provide food texturing agents suitable for these applications may see increased demand.
Increasing consumer interest in plant-based foods: Consumers are becoming more interested in plant-based foods due to health and environmental concerns. Plant-based food texturing agents are becoming increasingly popular and are expected to see significant growth in the market. Businesses that produce these agents are likely to see increased demand.

Overall, the food texturing agent market presents various opportunities for businesses and investors. By focusing on producing natural, clean-label, and innovative food texturing agents that cater to the expanding food and beverage industry, businesses can capitalize on these opportunities and see growth in this market.

Food Texturing Agent Market Weakness

Like any other market, the food texturing agent market is not immune to weaknesses. Here are some of the weaknesses that businesses and investors should be aware of:

Dependence on food and beverage industry: The food texturing agent market is heavily dependent on the food and beverage industry. Any slowdown in this industry can have a significant impact on the market. Businesses that rely solely on the food and beverage industry may be vulnerable to market fluctuations.
Limited consumer awareness: Although food texturing agents are widely used in the food industry, consumers may not be aware of their use or the potential health implications associated with them. Lack of consumer awareness can limit demand for food texturing agents.
Stringent regulations: The use of food texturing agents is subject to strict regulations in many countries. This can limit the availability of certain types of agents or increase the cost of production for businesses. Compliance with regulations can be time-consuming and costly.
Intense competition: The food texturing agent market is highly competitive, with many players offering similar products. This can make it difficult for businesses to differentiate their products and gain market share. Price competition can also put pressure on profit margins.
Health concerns: Some food texturing agents have been associated with health concerns, such as allergic reactions and digestive problems. As a result, consumers and regulators are becoming more cautious about their use. Businesses that produce food texturing agents may face scrutiny and backlash if their products are perceived as unsafe.

Overall, the food texturing agent market has its weaknesses, and businesses and investors should be aware of them. By understanding these weaknesses, businesses can take steps to mitigate their impact and position themselves for success in this market.

Food Texturing Agent Market Threats

The food texturing agent market faces various threats that businesses and investors should be aware of. Here are some of the threats in this market:

Fluctuating raw material prices: The prices of raw materials used to produce food texturing agents can be volatile and subject to sudden changes. Fluctuating prices can affect the profitability of businesses that produce these agents.
Health and safety concerns: Food texturing agents are subject to scrutiny by regulators and consumers due to potential health and safety concerns. Any adverse incidents related to the use of food texturing agents can lead to increased regulatory scrutiny and a decline in consumer confidence, which can negatively impact the market.
Shifting consumer preferences: Consumer preferences are constantly changing, and businesses that fail to keep up with these changes may lose market share. In recent years, there has been a growing demand for natural, plant-based, and clean-label food texturing agents. Businesses that fail to adapt to these changing preferences may be at a disadvantage.
Trade barriers: International trade plays a significant role in the food texturing agent market, and any trade barriers or tariffs can affect the market. Political and economic instability can also impact international trade and disrupt supply chains.
Technological advancements: While technological advancements present opportunities for businesses in the food texturing agent market, they also pose a threat. New technologies can disrupt traditional business models and lead to increased competition. Businesses that fail to adopt new technologies may be at a disadvantage.

Overall, the food texturing agent market faces various threats, and businesses and investors should be aware of them. By understanding these threats and taking steps to mitigate their impact, businesses can position themselves for success in this market.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Market Insight Lab journalist was involved in the writing and production of this article.