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The industry is fragmented, with several regional companies operating on a global scale. Together these companies hold a market share of 15%-20% of the total industry. Local brands effectively address regional consumer preferences, such as the demand for natural or organic products. In contrast, global companies leverage their brand recognition and extensive distribution networks. This market fragmentation arises from diverse consumer preferences, regulatory variations, and differing price sensitivities across regions. Regional companies often focus on providing specialized, cost-effective products that align with local cultures.
Major players operating in the industry are: