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USD 700 Billion Growth in Nutraceuticals Market Size 2023 – Industry Analysis, Market Trends, Market Growth, Opportunities | Sector Growing at 9.4% CAGR during the Forecast Period 2023 to 2030
NEW YORK, July 10, 2023 /PRNewswire/ — The global nutraceuticals market size was valued at USD 353 billion in 2022 and is expected to surpass USD 700 billion by 2030, registering a CAGR of 9.4% during the forecast period (2023- 2030), as highlighted in a report published by Facts and Factors.
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Nutraceuticals Market: Overview
Nutraceuticals is a term used to describe a product that is derived from food sources and has additional health benefits in addition to providing food’s essential nutritional value. Food supplements, herbal products, and processed foods such as stews, cereals, and beverages are kept separate. These items are also used as medication and provide protection against chronic diseases.
According to the NCBI, nutraceuticals are used to improve health, slow the ageing process, prevent chronic diseases, and increase life expectancy. According to NIH researchers, nutraceuticals have attracted significant interest in the healthcare industry due to their therapeutic benefits. According to reports, nutraceuticals have been found to be effective against Alzheimer’s, cancer, allergies, diabetes, and Parkinson’s disease.
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- Includes an Updated List of tables & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors Methodology
Key Industry Insights & Findings of the Nutraceuticals Market Reports:
- As per the analysis, the nutraceuticals market share is likely to grow above a CAGR of around 9.4% between 2023 and 2030.
- The nutraceuticals market size was worth around USD 353 billion in 2022 and is estimated to hit approximately USD 700 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The global nutraceuticals market is anticipated to record massive growth over the forecast period owing to the humungous consumption of functional foods has translated into a rise in the demand for nutraceuticals.
- Based on the product, the functional foods segment is predicted to contribute majorly towards the global market share over the forecast timeline.
- In terms of ingredients, the probiotics segment is projected to record the highest CAGR over 2023-2030.
- On the basis of application, the weight management & safety segment is slated to dominate the segmental surge over the forecast period.
- Region-wise, the Asia-Pacific Nutraceuticals market is projected to register the highest CAGR during the assessment period.
Industry Growth Drivers:
- Lifestyle-related disease awareness will drive worldwide market trends
Massive consumption of functional foods has resulted in an increase in demand for nutraceuticals, thereby accelerating the global expansion of the nutraceuticals market. The expansion of the global market will be driven by an increase in consumer concentration on health-promoting foods and awareness of lifestyle-related disorders.
In addition, a rise in consumer spending in developed nations and heightened health consciousness will expand the global market’s growth potential. Massive consumption of dietary supplements has shifted consumer preferences towards self-medication and treatment of lifestyle-related maladies, such as malnutrition. In turn, this has provided a solid foundation for global market expansion.
The expansion of the global nutraceuticals market has been greatly influenced by the ageing population, rising healthcare costs, and shifting dietary preferences. Global market demand has been positively impacted by technological advancements in the nutraceuticals industry and the use of artificial intelligence in the field.
Restraints:
- The global expansion of the nutraceutical industry will be hampered by the escalating cost of ingredients
The expansion of the global nutraceuticals industry will be stymied by the challenges encountered by industry participants during the manufacturing process and the lengthy extraction of ingredients required to produce nutraceuticals. In addition, rising costs of nutraceutical constituents can impede the global expansion of the industry.
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Global Nutraceuticals Market: Segmentation
The global market for nutraceuticals is segmented by product, ingredient, application, and region.
The global nutraceuticals market is segmented by product into dietary supplements, functional beverages, and functional foods. In addition, it is anticipated that the functional foods segment, which accounted for over 40% of the global market share in 2022, will maintain its segmental dominance over the forecast period.
Ingredient-wise, the nutraceuticals industry across the globe is divided into probiotics, prebiotics, sweeteners, vitamins, whey proteins, proteins, omega-3, minerals, marine ingredients, lipids & fatty acids, krill, juices & concentrates, isoflavones, glucosamine, fruit & vegetables, flavours, fibres, fats & oils, fat replacers, essential oils, enzymes, dairy ingredients, colostrum, aloe vera, amino acids, carotenoids, carnitine and carbohydrates segments.
The global nutraceuticals market is segmented by application into weight management & safety, bone & joint health, energy & endurance, heart health, digestive health, animal nutrition, immune system, women’s health, and post-pregnancy & reproductive health.
Recent Developments:
- In the second quarter of 2022, The Kellogg Company, a U.S.-based food manufacturing firm, launched a new protein snack bar comprising 6 gms of protein and 90 calories. For the record, the snack bar is provided in two delectable flavors, rich chocolaty brownie sundae, and sweet berry vanilla. The move is predicted to boost the growth of the global nutraceuticals industry.
- In the first half of 2022, PepsiCo, Inc., a U.S.-based food company, introduced a hemp-infused drink in the U.S. Moreover, the energy drink branded as “Rockstar Unplugged”, comprises hemp seed oil, lemon balm, vitamin B, and spearmint. The strategic move will embellish the market growth trends in the U.S.
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Competitive Players
The report contains qualitative and quantitative research on the global nutraceuticals market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness.
Some of the main players in the global nutraceuticals market include;
- DSM
- PepsiCo Inc.
- Amway
- Herbalife Nutrition Limited
- Pfizer Inc.
- Archer Daniels Midland Company
- Nestle S.A.
- The Kraft Heinz Company
- General Mills
- The Hain Celestial Group Inc.
- BASF SE
- Nature’s Bounty
- Abbot Industries
- General Mills Inc.
- Danone Corporation
- Glanbia Plc
- Tyson Foods
Key questions answered in this report:
- What is the growth rate forecast and market size for Nutraceuticals Market?
- What are the key driving factors propelling the Nutraceuticals Market forward?
- What are the most important companies in the Nutraceuticals Market Industry?
- What segments does the Nutraceuticals Market cover?
- How can I receive a free copy of the Nutraceuticals Market sample report and company profiles?
Report Scope:
Report Attribute |
Report Details |
Market Size in 2022 |
USD 353 Billion |
Market Forecast in 2030 |
USD 700 Billion |
Growth Rate |
CAGR of 9.4% |
Base Year |
2022 |
Forecast Years |
2023- 2030 |
Key Companies Covered |
DSM, PepsiCo Inc., Amway, Herbalife Nutrition Limited, Pfizer Inc., Archer Daniels Midland Company, Nestle S.A., The Kraft Heinz Company, General Mills, The Hain Celestial Group Inc., BASF SE, Nature’s Bounty, Abbot Industries, General Mills Inc., Danone Corporation, Glanbia Plc, Tyson Foods., and others. |
Segments Covered |
By Product, Ingredient, Application, and Region |
Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Customization Scope |
Avail customized purchase options to meet your exact research needs. |
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Regional Analysis:
- North American nutraceuticals market will lead globally
North America, which accounted for more than 30 percent of the global nutraceuticals market’s revenue in 2022, is anticipated to experience profitable expansion during the forecast period. The expansion of the regional market over 2023-2030 may be influenced by a rise in consumer health concerns and rising awareness of nutraceuticals.
The increase in the geriatric population and consumer expenditure on healthcare products, as well as changes in lifestyles, will contribute to the expansion of regional market trends. A rise in healthcare spending in the United States will drive the expansion of the regional market.
In addition, the Asia-Pacific region is anticipated to register the highest CAGR in the anticipated timeframe for the nutraceuticals industry. A rise in living standards, a rise in per capita income, and an increase in population are factors that are likely to influence the growth of the regional industry.
Global Nutraceuticals Market is segmented as follows:
By Product Segment Analysis
- Dietary Supplements
- Functional Beverages
- Functional Foods
By Ingredient Segment Analysis
- Probiotics
- Prebiotics
- Sweeteners
- Vitamins
- Whey Proteins
- Proteins
- Omega-3
- Minerals
- Marine Ingredients
- Lipids & Fatty Acids
- Krill
- Juices & Concentrates
- Isoflavones
- Glucosamine
- Fruit & Vegetables
- Flavors
- Fibers
- Fats & Oils
- Fat Replacers
- Essential Oils
- Enzymes
- Dairy Ingredients
- Colostrum
- Aloe Vera
- Amino Acids
- Carotenoids
- Carnitine
- Carbohydrates
By Application Segment Analysis
- Weight Management & Safety
- Bone & Joint Health
- Energy & Endurance
- Heart Health
- Digestive Health
- Animal Nutrition
- Immune System
- Women’s Health
- Post-Pregnancy & Reproductive Health
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Fintech PR
Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore
SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving India–Singapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.
Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.
Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”
The event brought together a distinguished array of participants, highlighting the transformative potential of India–Singapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.
Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.
The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.
For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.
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Fintech PR
ROYAL CANADIAN MINT REPORTS PROFITS AND PERFORMANCE FOR Q3 2024
OTTAWA, ON, Nov. 22, 2024 /PRNewswire/ — The Royal Canadian Mint (the “Mint”) announces its financial results for the third quarter of 2024 that provide insight into its activities, the markets influencing its businesses and its expectations for the next 12 months.
“As the markets continue to change, the Mint is proving its ability to seize on new opportunities thanks to its diversified structure and flexible business strategy” said Marie Lemay, President and CEO of the Royal Canadian Mint.
The financial results should be read in conjunction with the Mint’s annual report available at www.mint.ca . All monetary amounts are expressed in Canadian dollars, unless otherwise indicated.
Financial and Operational Highlights
- The financial results for the third quarter of 2024 were ahead of target and higher than 2023 levels. Higher gold market pricing and foreign circulation volumes combined with lower fixed costs were the main drivers for the quarter over quarter increase. These increases were partially offset by lower than expected bullion volumes from the continued soft demand in the global bullion market. The Mint expects to meet its financial goals for 2024, as set out in its 2024-2028 Corporate Plan, the Mint’s Leadership team continues to actively monitor its status.
- Consolidated revenue decreased to $252.7 million in 2024 (2023 – $360.6 million).
Revenue from the Precious Metals business decreased to $217.6 million in 2024
(2023 – $328.4 million):- Gold bullion volumes decreased 38% quarter over quarter to 106.1 thousand ounces (2023 – 170.1 thousand ounces) while silver bullion volumes decreased 20% to 2.7 million ounces (2023 – 3.4 million ounces).
- Gold and silver market prices increased quarter over quarter by 27% and 23%, respectively.
- Sales of numismatic products decreased 12% quarter over quarter mainly due to the high demand in 2023 for the Queen Elizabeth II’s Reign products.
- Revenue from the Circulation business increased to $35.1 million in 2024
(2023 – $32.2 million):- Revenue from the Foreign Circulation business increased 77% quarter over quarter, a reflection of higher volumes produced and shipped in 2024 as compared to 2023.
- Revenue from Canadian coin circulation products and services decreased 12% quarter over quarter as fewer coins were required to replenish inventories, combined with lower program fees in accordance with the memorandum of understanding with the Department of Finance.
- Overall, operating expenses decreased 27% quarter over quarter to $28.3 million (2023 – $36.0 million) mainly due to planned reductions in consulting and workforce expenses.
Consolidated results and financial performance
(in millions)
13 weeks ended |
39 weeks ended |
|||||||||||
Change |
Change |
|||||||||||
September |
September |
$ |
% |
September |
September 30, 2023 |
$ |
% |
|||||
Revenue |
$ |
252.7 |
$ 360.6 |
(107.9) |
(30) |
$ 861.2 |
$ 1,841.8 |
(980.6) |
(53) |
|||
Profit (loss) for the period |
$ |
5.7 |
$ (5.8) |
11.5 |
(198) |
$ 24.1 |
$ 15.0 |
9.1 |
61 |
|||
Profit (loss) before |
$ |
1.4 |
$ (8.7) |
10.1 |
(116) |
$ 12.3 |
$ 23.4 |
(11.1) |
(47) |
|||
Profit (loss) before |
0.6 % |
(2.4) % |
1.4 % |
1.3 % |
(1) Profit (loss) before income tax and other items is a non-GAAP financial measure. A reconciliation from profit for the period to profit before income tax and other items is included on page 13 of the Mint’s 2024 Third Quarter Report. |
(2) Profit (loss) before income tax and other items margin is a non-GAAP financial measure and its calculation is based on profit before income tax and other items. |
As at |
||||||||||
September 28, 2024 |
December 31, 2023 |
$ Change |
% Change |
|||||||
Cash |
$ |
58.4 |
$ |
59.8 |
(1.4) |
(2) |
||||
Inventories |
$ |
71.5 |
$ |
68.8 |
2.7 |
4 |
||||
Capital assets |
$ |
174.2 |
$ |
173.0 |
1.2 |
1 |
||||
Total assets |
$ |
376.8 |
$ |
380.4 |
(3.6) |
(1) |
||||
Working capital |
$ |
99.2 |
$ |
97.8 |
1.4 |
1 |
||||
As part of its enterprise risk management program, the Mint continues to actively monitor its global supply chain and logistics networks in support of its continued operations. Despite its best efforts, the Mint expects changes in the macro-economic environment and other external events around the globe to continue to impact its performance in 2024. The Mint continues to mitigate potential risks as they arise through its enterprise risk management process.
To read more of the Mint’s Third Quarter Report for 2024, please visit www.mint.ca.
About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada’s prestigious military and civilian honours. As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services. As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations.
For more information on the Mint, its products and services, visit www.mint.ca. Follow the Mint on LinkedIn, Facebook and Instagram.
FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES
This Earnings Release contains non-GAAP financial measures that are clearly denoted where presented. Non-GAAP financial measures are not standardized under International Financial Reporting Standards (IFRS) and might not be comparable to similar financial measures disclosed by other corporations reporting under IFRS.
This Earnings Release contains forward-looking statements that reflect management’s expectations regarding the Mint’s objectives, plans, strategies, future growth, results of operations, performance, and business prospects and opportunities. Forward-looking statements are typically identified by words or phrases such as “plans”, “anticipates”, “expects”, “believes”, “estimates”, “intends”, and other similar expressions. These forward-looking statements are not facts, but only estimates regarding expected growth, results of operations, performance, business prospects and opportunities (assumptions). While management considers these assumptions to be reasonable based on available information, they may prove to be incorrect. These estimates of future results are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what the Mint expects. These risks, uncertainties and other factors include, but are not limited to, those risks and uncertainties set forth in the Risks to Performance section of the Management Discussion and Analysis in the Mint’s 2023 annual report, as well as in Note 9 – Financial Instruments and Financial Risk Management to the Mint’s Audited Consolidated Financial Statements for the year ended December 31, 2023. The forward-looking statements included in this Earnings Release are made only as of November 20, 2024 and the Mint does not undertake to publicly update these statements to reflect new information, future events or changes in circumstances or for any other reason after this date.
For more information, please contact: Alex Reeves, Senior Manager, Public Affairs, Tel: (613) 884-6370, [email protected]
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Fintech PR
OIVE and ViniPortugal celebrate closing of joint campaign that reached 100 million consumers
MADRID and PORTO, Portugal, Nov. 22, 2024 /PRNewswire/ — For three years, A Shared Passion showed European consumers the quality and unparalleled versatility of Iberian wines. The program reached over 100 million consumers with advertising in airports, train stations, press trips, digital content, and other actions with opinion leaders.
The wine interprofessionals of Spain (OIVE) and Portugal (ViniPortugal) celebrated the closing of their ambitious joint campaign A Shared Passion with flagship events in Madrid and Porto. The closing event in Spain took place in Madrid’s iconic Calle Alcalá, while in Portugal, the World of Wine (WOW) in Porto was the perfect setting to present the achievements of the international collaboration. Both ceremonies were very well received by the press and the wine sector, highlighting the impact of the promotional actions that reached more than 79.2 million travelers in key transport infrastructures.
The campaign included 22 study trips, taking 150 specialized journalists to explore the world of wine in both countries and generating publications that reached nearly 15 million European consumers.
On social media, the A Shared Passion profile on Instagram exceeded 15,000 followers, consolidating its presence in the digital sphere. In addition, exclusive activities such as workshops and VIP dinners contributed significantly to this initiative’s global impact.
The final events were honored by the presence of opinion leaders, such as Masters of Wine Pedro Ballesteros and Dirceu Vianna Júnior, who moderated round tables with the presidents of OIVE, Fernando Ezquerro, and ViniPortugal, Frederico Falcão. The conference concluded with masterclasses that highlighted Spain and Portugal’s extraordinary oenological diversity, reinforcing the relevance of the sector in the economic, social, and environmental sustainability of both countries.
With funding from the European Union, A Shared Passion highlighted not only the quality and authenticity of Iberian wines but also their strategic role in the sustainable development of numerous municipalities. This initiative underlines the passion with which Spanish and Portuguese wines are made, reflecting their rich traditions and commitment to the future.
For more information: www.asharedpassion.com
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