Uncategorised – Page 40 – Market Industry Forecast News

Natural Skin Care Products Market: Hypermarkets And Retail Chain Segment And Accounted For Revenue Share

Natural Skin Care Products Industry Overview

The global natural skin care products market size was valued at USD 6.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2022 to 2030. One of the primary factors driving the market is growing awareness about the adverse effects of chemicals on the skin, such as irritation and dullness. The increasing awareness about the benefits of organic ingredient-based items has prompted customers to seek out eco-friendly, natural skin care products. The recent Covid-19 outbreak has severely impacted the growth of the beauty and personal grooming industry. The pandemic disrupted production as well as sales of beauty and personal care products through both online and offline channels due to social distancing and stay-home policies.

Demand for new orders from retailers has come to a standstill as the major markets are under lockdown, which has drastically altered the supply chain in the market globally. Skin care products are popular since they are usually always utilized daily. Growing consumer awareness of the benefits of natural products, as well as rising environmental concerns, are likely to increase product demand in the upcoming years. Furthermore, chemical-free products are gaining popularity among young people and millennials who choose to support organically grown beauty product start-ups, which is projected to increase demand for natural products.

Gather more insights about the market drivers, restrains and growth of the Global Natural Skin Care Products market

Increasing investments in research and development, coupled with the rising trend of natural ingredients, have encouraged manufacturers to launch new products. For instance, in June 2021, SO’BiOétic, the leading organic beauty brand in France, recently launched its organic beauty product line in the U.S. with the Instagram challenge “Have You Taken the #SOBiOWhaleChallenge”? According to the article published in Mancunian Matters in July 2021, A survey carried out by Prodge showed that 34 percent of consumers preferred to buy natural and organic skin care when given the option to do so.

Beauty and cosmetic products that are free from chemicals and transparent about the content have been preferred by consumers, which is likely to drive the demand for natural skin care products. Growing celebrity involvement in the promotion of sustainable beauty products is expected to resonate well with young consumers. Millennials who spend a lot of time on the internet have a high inclination towards trending online articles, product launches, and celebrity endorsements. Influential personalities such as Hailey Bieber promoting bareMinerals, and Jessica Alba co-founded The Honest Company. These brand innovations and launches are likely to contribute to the growth of the market.

Browse through Grand View Research’s Homecare & Decor Industry Research Reports.

Baby Diapers Market – The global baby diapers market size was valued at USD 82.59 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. The market is projected to witness higher demand over the coming years owing to the rising awareness regarding child health.

Men’s Grooming Products Market – The global men’s grooming products market was valued at USD 202.6 billion in 2022 and is projected to expand at a CAGR of 8.0% from 2023 to 2030. Men are increasingly spending heavily on grooming goods as attitudes about conventional masculinity have shifted due to the rise of the metrosexual male and the growing influence of celebrities and influencers.

Natural Skin Care Products Market Segmentation

Grand View Research has segmented the global natural skin care products market on the basis of type, product, end-use, distribution channel, and region:

Natural Skin Care Products Type Outlook (Revenue, USD Million, 2017 – 2030)

Mass
Premium

Natural Skin Care Products Outlook (Revenue, USD Million, 2017 – 2030)

Facial Care
Body Care

Natural Skin Care Products End-use Outlook (Revenue, USD Million, 2017 – 2030)

Men
Women

Natural Skin Care Products Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

Direct Selling
Hypermarkets & Retail Chain
E-commerce
Pharmacy & Drugstores
Others

Natural Skin Care Products Regional Outlook (Revenue, USD Million, 2017 – 2030)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Market Share Insights

November 2021: Victoria’s Secret, the leading intimate specialty retailer, has expanded its global presence with the launch of its first-ever beauty e-commerce store in India.

May 2021: the Vegan beauty brand for men Phy recently launched its new Tea Tree Dandruff Control Shampoo that is touted to be gentle, sulfate-free, and silicone-free.

Key Companies profiled:

Some of the prominent key players in the natural skin care products market include:

Procter & Gamble
The Estée Lauder Companies Inc.
Mama Earth
Unilever
The Clorox Company
Honest Co.
The Body Shop
L’Oréal
FOM London Skincare
Bloomtown

Order a free sample PDF of the Natural Skin Care Products Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Grand View Research, Inc.

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Hard Seltzer Market Size Is Expected To Reach USD 57.34 Billion By 2030

Hard Seltzer Industry Overview

The global hard seltzer market size was valued at USD 8.95 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 22.9% from 2022 to 2030. The rising adoption of low alcohol content beverages among millennials and the younger generation is driving the product demand. Moreover, consumers are trying to reduce their alcohol consumption or becoming ‘sober-curious’, which has further led to an increase in the demand for low-alcoholic beverages. The outbreak of the COVID-19 pandemic has drastically impacted the consumption pattern of alcoholic beverages from high alcohol content to low alcohol content due to the rising health consciousness among the consumers. The sale of hard seltzer during the pandemic rose significantly through e-commerce channels due to stay-at-home orders around the world. Alcohol delivery apps, such as Drizly and Minibar, reported a significant jump in orders during February and March 2020, with the total costs per order more than 20% higher than usual.

According to a survey by IWSR, as of 2019, 52% of consumers surveyed were trying to reduce their alcohol consumption. Moreover, hard seltzer contains low amounts of alcohol, ranging from 1%-8% ABV, and is low-calorie in comparison to beer, with most versions having around 100 calories. Thus, moderate drinkers prefer to consume hard seltzer as a substitute for beer. These properties are anticipated to boost product sales across the globe over the forecast period. Many consumers are looking for reduced sugar, low-calorie, organic, and healthy halo beverages that not only fulfill their demands but also align with their keto and vegan diet. Many manufacturers have been offering products in this category.

Gather more insights about the market drivers, restrains and growth of the Global Hard Seltzer market

For instance, Mass Bay Brewing Co.’s hard seltzers contain 100 calories and 3 grams of carbohydrates. These are sugar- and gluten-free as well as considered vegan and keto-friendly. In January 2021 Anheuser-Busch InBev launched Michelob Ultra Organic Seltzer in three flavors including spicy pineapple, peach pear, and cucumber lime with zero added sugars. The hard seltzer category has seen immense expansion due to its booming social media presence and pop culture buzz. Brands can be seen grabbing a piece of the social media buzz by creating Instagram-worthy hard seltzer packaging to increase engagement and partnering with influencers and consumers. According to research conducted by Bank of America, there were six times as many conversations about hard seltzer on Instagram in January 2020 as compared to January 2019.

Browse through Grand View Research’s Alcohol & Tobacco Industry Research Reports.

Snus Market – The global snus market size was valued at USD 2.8 billion in 2021 and is expected to expand at a CAGR of 4.3% from 2022 to 2030. The rising popularity of snus as a result of the ease of the application it provides to its users is a major factor driving the market.
CBD Pouches Market – The global CBD pouches market size was valued at USD 112.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.5% from 2022 to 2030. CBD pouches are gaining traction among people as they are a safer alternative to smoking.

Hard Seltzer Market Segmentation

Grand View Research has segmented the global hard seltzer market on the basis of ABV content, distribution channel, and region:

Hard Seltzer ABV Content Outlook (Revenue, USD Million, 2017 – 2030)

1.0% to 4.9%
5.0% to 6.9%
Others

Hard Seltzer Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

Off-trade
On-trade

Hard Seltzer Regional Outlook (Revenue, USD Million, 2017 – 2030)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Market Share Insights

May 2020: Kopparberg Brewery launched a hard seltzer in the U.K. that claims to be vegan-friendly and gluten-free, with a 5% ABV content. It is available in mixed berries, black cherry, and passion fruit flavors.

April 2021: Mark Anthony Brands, White Claw, launched its first global marketing campaign in collaboration with a diverse group of creators from across the U.S. and around the world to capture unscripted, momentary content inspired by the feeling White Claw evokes.

Key Companies profiled:

Some of the key players operating in the global hard seltzer market include:

Mark Anthony Brands International
Anheuser-Busch InBev
The Coca-Cola Company
Diageo plc
Heineken N.V.
The Boston Beer Company
Molson Coors Beverage Company
Constellation Brands, Inc.
Kopparberg
San Juan Seltzer, Inc.

Order a free sample PDF of the Hard Seltzer Market Intelligence Study, published by Grand View Research.

About Grand View Research

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

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Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Vegan Confectionery Market: Asia Pacific Poses A Wide Scope For The Growth In The Upcoming Years

Vegan Confectionery Industry Overview

The global vegan confectionery market size was valued at USD 1.11 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.8% from 2022 to 2030. The increasing shift among consumers towards plant-based diets, as a result of lifestyle disorders and health concerns, has been fueling the growth of the worldwide market in recent years. Social media posts on the vegan lifestyle and its benefits also encourage consumers to adopt plant-based diets, thereby contributing to market growth.

The unprecedented COVID-19 outbreak caused major supply chain disruptions, forcing brands to focus on leveraging their online presence owing to lockdowns in most countries. Further, the disrupted supply chain impacted the entire food industry worldwide. The small and craft chocolate businesses suffered the most due to shortages in supply, coupled with their inventories being depleted as a result of panic buying by customers.

Gather more insights about the market drivers, restrains and growth of the Global Vegan Confectionery market

Increasing concerns about animal cruelty, personal health & wellness, and the environment have been popularizing plant-based lifestyles among consumers worldwide. As a result, the plant-based food industry has been expanding over the years and offering a wide range of products. Both small and large food firms are entering the industry to tap the potential offered by the rising demand. In June 2018, Sodexo, a large catering company, partnered with the Humane Society of the United States to create over 200 plant-based food items for campus dining halls and corporate foodservice facilities.

Furthermore, the increased number of new product launches in the vegan confectionery industry has accelerated market growth. As per The Vegan Society, the product launches grew by 185% between 2012 and 2016 in the U.K. The large retail chains, including Walmart, are interested in offering more plant-based food items. In addition, an increased number of lactose-intolerant people has raised the demand for dairy-free confections across the globe. These factors are expected to accelerate the growth of the market in the upcoming years.

There is significant scope for the growth of the global vegan confectionery market, as the concept of veganism is gaining prominence in developed countries such as the U.K., the U.S., Australia, New Zealand, Germany, Italy, France, and Canada. In addition, various Middle Eastern countries such as Israel and Saudi Arabia have been witnessing a growth in the vegan population, which offers several growth opportunities for manufacturers and new entrants.

Many countries in Europe have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. Germany, Italy, and France being the most visited countries in Europe, are creating opportunities for vegan candy manufacturers to supply on-the-go vegan candies in form of packaged and ready-to-eat food. With the largest confectionery product consuming population, the region is taking initiatives to improve the quality and standard of food products by the means of vegan ingredients.

Browse through Grand View Research’s Consumer F&B Industry Research Reports.

Hemp Seed Oil Market – The global hemp seed oil market was valued at USD 88.2 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 14.7% from 2023 to 2030. Hemp seed oil consists of cannabidiol (CBD), which has healing properties and helps in the treatment of various health concerns including anxiety, epilepsy, and others.

Food Decorations And Inclusions Market – The global food decorations and inclusions market size was valued at USD 7.43 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. Bakery and confectionary products, such as cakes, cookies, and others, are significantly consumed across the globe, and these products are highly used in cookies, cakes, and others thus driving the industry growth.

Vegan Confectionery Market Segmentation

Grand View Research has segmented the global vegan confectionery market on the basis of product, distribution channel, and region:

Vegan Confectionery Product Outlook (Revenue, USD Million, 2017 – 2030)

Chocolate
Sugar
Flour

Vegan Confectionery Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

Online
Offline

Vegan Confectionery Regional Outlook (Revenue, USD Million, 2017 – 2030)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Market Share Insights

January 2022: global Cargill Group confirmed that it has developed a new vegan chocolate, ExtraVeganZa. According to the company, its chocolate engineers identified key plant-based “power” ingredients – sunflower kernel powder, rice syrup, and organic rice syrup

October 2021: Cadbury confirmed their intent to launch its first vegan chocolate bar in response to an “increasing public appetite for plant-based alternatives”. The new dairy-free bar, called Plant Bar, is a vegan version of Cadbury’s Dairy Milk, one of the most popular chocolate bars in the UK.

Key Companies profiled:

Some of the key players operating in the vegan confectionery market include:

Taza Chocolate
Alter Eco
Endangered Species Chocolate, LLC,
EQUAL EXCHANGE COOP
Chocoladefabriken Lindt & Sprüngli AG
MondelÄ“z International
Dylan’s Candy Bar
Endorfin
Goodio
Freedom Confectionery
Creative Natural Products, Inc.

Order a free sample PDF of the Vegan Confectionery Market Intelligence Study, published by Grand View Research.

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Grand View Research, Inc.

Phone: 1-415-349-0058

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Ornamental Fish Market: Europe Dominated And Accounted For The Largest Revenue Share

Ornamental Fish Industry Overview

The ornamental fish market size was valued at USD 5.4 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2030. The growing popularity of colorful decorative fish for aquariums among millennials as part of a luxury lifestyle is predicted to drive business growth. Another factor driving the demand for ornamental fish is their numerous benefits to consumers. For instance, attractive, colorful fishes of peaceful nature such as Goldfish, Guppy, Cory Catfish, and Betta Fish (Siamese Fighting Fish) are kept as pets in confined spaces in aquariums have been proven effective in offering various psychological benefits to consumers of varied age groups, particularly millennials.

The benefits include and are not limited to-reducing stress after a hectic workday. Watching ornamental aqua species glide serenely through the water is known to have a calming and tranquil effect on people. It has been observed that many young consumers are more inclined toward purchasing attractive fish species mainly for decorative purposes owing to their alluring features and differing characteristics. This, in turn, has exponentially fueled the growth of the ornamental fish market. Moreover, the latest technological advancements in the industry, such as pet cameras and automatic filters, have further augmented the desire for the adoption of pets. For instance, monitoring water chemistry in aquariums has been a constant concern for many years, but new in-tank devices can now deliver real-time measurements for everything- from pH levels to water hardness, making it easier to regulate optimum conditions.

Gather more insights about the market drivers, restrains and growth of the Global Ornamental Fish market

Ornamental fish aquariums are turning into tools for educational and emotional development. One may appreciate an aquarium for its fun and interesting design; however, the effects of communicating with nature in such an intimate way are a lot deeper than one might realize. Moreover, the above evidence shows that physical contact with nature stimulates intellectual or cognitive development. In other words, when people observe and interact with an aquarium, their thought-formation and problem-solving skills are strengthened. Beyond emotional development, home fish aquariums serve as a powerful educational tool too.

In addition, the closure of non-essential businesses has been one of the major challenges that faced the market in 2020. The worldwide lockdown as a consequence of the outbreak of COVID-19 has had a cascading effect on establishments housing captive wildlife. Also, the World Trade Organization estimated a fall in world trade between 13% and 32% in 2020 resulting from the disruption of economic activity due to the COVID-19 pandemic. Since over 80% of worldwide trade (in total volume) is being handled by the maritime industry, the estimated downturn in global trade suggests a significant decrease in human-based marine activities.

Aquariums, marine parks, water museums, and others are popular spots for tourists, especially during the spring and summer months; however, these were not a viable option during the lockdown periods. Oakland Zoo in California, U.S. was one of the most hard-hit venues owing to the coronavirus crisis. The facility reported that it has been losing roughly USD 2 million per month since it was forced to close in March 2020.

Browse through Grand View Research’s Homecare & Decor Industry Research Reports.

Tiki Torch Market – The global tiki torch market size was valued at USD 462.81 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.7% from 2023 to 2030. The growth of the global market is mainly driven by rising demand for these products to add an authentic ambiance to pools and lakes, along retaining walls, or near outdoor entertaining or gathering areas.
Shower Heads Market – The global shower heads market size was valued at USD 7.47 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 8.6% from 2023 to 2030. As a fundamental element to maintaining personal hygiene and health, bathroom shower heads have evolved from simple designs to novel dual-purpose panels, premium and curved showers, and rain showers.

Ornamental Fish Market Segmentation

Grand View Research has segmented the global ornamental fish market on the basis of product, application, and region:

Ornamental Fish Product Outlook (Revenue, USD Million, 2017 – 2030)

Tropical Freshwater
Temperate
Marine

Ornamental Fish Application Outlook (Revenue, USD Million, 2017 – 2030)

Commercial
Household

Ornamental Fish Regional Outlook (Revenue, USD Million, 2017 – 2030)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies profiled:

The market includes both international and domestic participants. Key market players focus on strategies such as merger, acquisition, innovation, and new product launches in retail about products to enhance their portfolio offering in the market. Some of the prominent players in the ornamental fish market include

Aqua-Nautic Specialist Pte Ltd.
AlgaeBarn LLC
bioAquatiX
Imperial Tropicals
LiveAquaria
Oasis Fish Farm
Sanyo Aquarium (Pte) Ltd.
Qian Hu Corporation Limited
Sunbeam Aquarium Pte Ltd.
Tropical Fish International Pte Ltd.

Order a free sample PDF of the Ornamental Fish Market Intelligence Study, published by Grand View Research.

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Email: sales@grandviewresearch.com

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Home And Garden Pesticides Market Is Expected To Expand At A CAGR Of 5.9% From 2022 To 2030

Home And Garden Pesticides Industry Overview

The global home and garden pesticides market size was valued at USD 7.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030. Home gardens have been an important part of family farming and local food systems for millennia. Many pesticide treatments for residences are now ready-to-use, with liquid formulations requiring no further mixing, which make farming local food easier. Moreover, pesticide producers make it simple to apply pesticides safely. Pesticides are used on a daily basis, from ant and roach sprays in the kitchen, to weed killers for the yard, mildew cleaners in the bathroom, and mosquito repellents outside. Pesticides have become a common practice for keeping homes and gardens pest-free.

Gather more insights about the market drivers, restrains and growth of the Global Home And Garden Pesticides market

Many businesses are launching new products, such as BASF’s Renestra insecticide, which has a dual mode of action and will control a broad spectrum of insects. It will give farmers a way to control a variety of insect pests as well as soybean aphids. Mortein Smart, a premium innovation, was also launched. The product switches between high and normal settings automatically. In addition, according to Bonnie Plants, more than 20 million Americans planted a vegetable garden for the first time during the COVID-19 outbreak, indicating that the market for home and garden pesticides is quickly expanding in North America. It appears to be an opportune time for a seed start-up in the form of Sproutl, a U.K.-based gardening software firm trying to introduce gardening to a whole new generation of gardeners and encourage everyone to get involved.

Moreover, the Horticultural Trade Association reports that the number of gardeners increased by three million last year, with over half of those under 45. Plant searches surpassed those for clothes during the lockdown and Google GOOG +0.1 percent searches linked to gardening have risen from May 2020 to May 2021. Furthermore, the growing popularity of Do-It-Yourself (DIY) gardening hobbies is an added factor supporting the market for home and garden pesticides. Gardening as a hobby is particularly popular among Americans as well as Europeans, with a record number of youngsters taking up gardening as a hobby. This is also expected to be one of the key factors driving the market for home and garden pesticides during the forecast period. Additionally, according to the blog by Financial Times in September 2020, gardening was the second most popular activity during the COVID-19 lockdown in 2020, the first being watching TV.

Browse through Grand View Research’s Homecare & Decor Industry Research Reports.

Sports Tourism Market – The global sports tourism market was valued at USD 587.87 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 17.5% from 2023 to 2030. The significant growth in the popularity of sporting events, such as the Olympics, the FIFA World Cup, the NBA, and others across the globe, is one of the major factors propelling the growth of the industry. In addition, the increase in spending on sports infrastructure by governments of various countries is anticipated to further boost the growth.

Ergonomic Chair Market – The global ergonomic chair market size was valued at USD 9.80 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7% from 2023 to 2030. As companies regularly renovate workspaces in commercial as well as residential spaces to include cutting-edge design elements like ergonomic and multifunctional seating systems, a major increase in office remodeling activities would further promote market growth.

Home And Garden Pesticides Market Segmentation

Grand View Research has segmented the global home and garden pesticides market on the basis of type, application, and region:

Home & Garden Pesticides Type Outlook (Revenue, USD Billion, 2017 – 2030)

Herbicides
Insecticides
Fungicides
Fumigants

Home & Garden Pesticides Application Outlook (Revenue, USD Billion, 2017 – 2030)

Garden
Household

Home & Garden Pesticides Regional Outlook (Revenue, USD Billion, 2017 – 2030)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Market Share Insights

In April 2021, Central Garden & Pet partnered with Profitero, Inc. to expand its reach through online platforms. Through this partnership, Central Garden & Pet will be able to access its e-commerce business across its retail partners. Link:
In Feb 2021, S.C. Johnson & Sons Inc. has decided to sell the majority stakes of its local business. The company is planning to sell major stakes in India Unit to Banks, a privately held investment firm. Link:

Key Companies profiled:

Some of the prominent players in the home and garden pesticides market include: –

Central Garden & Pet Company
S.C. Johnson & Sons Inc.
Bayer AG
The Scotts Company LLC
Syngenta
Organic Laboratories, Inc.
Reckitt Benckiser Group PLC
DuPont de Nemours, Inc.
BASF SE
Willert Home Products

Order a free sample PDF of the Home And Garden Pesticides Market Intelligence Study, published by Grand View Research.

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Grand View Research, Inc.

Phone: 1-415-349-0058

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Email: sales@grandviewresearch.com

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Green Packaging Market: Food & Beverage Industry Is Expected To Continue To Grow Over The Forecasted Period

Green Packaging Industry Overview

The global green packaging market is expected to reach USD 441.41 Billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 6.1% from 2020 to 2028. The market for green packaging is projected to be driven by the growing consumer demand for environment-friendly alternatives to non-sustainable packaging products.

Green packaging is witnessing growth due to rising environmental concerns caused by the packaging waste that ends up in landfills, polluting the environment. The packaging types categorized under green packaging are recyclable, reusable, and degradable. They are either used in the same value chain or degraded in nature without releasing harmful toxins, thus assisting companies to reduce their negative impact on the environment.

Recyclable and recycled content packaging is predominant amongst all types of green packaging as it is used on a mass scale. Plastics, paper, glass, and metal are the top recycled materials used for this segment of green packaging. Plastic is the most widely used material as it is cost-effective and provides useful properties, such as waterproofing and durability. The paper segment is witnessing high growth owing to new packaging designs introduced by companies as part of sustainable initiatives.

The market is likely to witness high growth over the coming years in the food and beverages sector as many players in the foodservice industry are switching to paper or compostable materials from single-use plastic cups, lids, closures, and food trays. The healthcare segment largely uses glass bottles and aluminum foil for packaging medicines, which is expected to grow in the forecast period as per the growth of the pharmaceutical industry.

Green Packaging Market Segmentation

Grand View Research has segmented the global green packaging market on the basis of type, application, and region:

Based on the Application Insights, the market is segmented into Food & Beverages, Personal Care, Healthcare, and Others.

The food and beverages application segment led the industry with more than 58.5% share of the global revenue in 2020. With the rising popularity of green packaging, many restaurants, fast food chains, packaged food companies, and casual dining venues are adopting molded pulp packaging and compostable packaging, which, in turn, is projected to drive the food and beverages segment.

The healthcare segment has shown promising growth despite the strict regulations related to the safety of packaging of products. For a large part, the pharmaceutical industry makes use of glass packaging as it is inert and suitable for the packaging of different drugs. Aluminum foil is another popular packaging material used by the pharmaceutical industry for the packaging of capsules and pills.

Based on the Type Insights, the market is segmented into Recycled Content Packaging, Reusable Packaging, and Degradable Packaging.

The recycled content segment held the largest share of 61.2% in 2020. The segment includes materials that can be recycled, such as paper, plastic, glass, and metal. These materials are reused by the manufacturers as raw materials to make new packaging products resulting in curbing excess pollution caused by packaging waste.
Paper is the next major segment under recycled content packaging as it is easily available, accessible, and popular among consumers. Paper is used in flexible as well as rigid packaging solutions. Paper packaging is experiencing increased market penetration due to enhanced functionalities, such as waterproofing through laminates and coatings. Paper has been popularly used in bakery products and foodservice applications.

Green Packaging Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies & Market Share Insights

Industry players are focusing on R&D activities concerning new plant-based materials that mimic the properties of plastics currently in use. Companies are redesigning packaging to include less material, hence saving on the cost and producing less waste. Tetra Laval, Ball Corp., Nampak, and Sealed Air are some of the leading companies in the market. Evergreen Packaging has been driving Corporate Social Responsibility (CSR) activities, such as ‘Carton 2 Garden’, to create awareness and encourage the use of sustainable packaging. The companies in the market are increasingly investing in innovative packaging designs and new materials with infinite recycling ability and material strength. For instance, Amcor’s ultra-recyclable high-barrier packaging with a low carbon footprint is made to replace ALU/PET non-recyclable structures. Some prominent players in the global green packaging market include:

Amcor
Be Green Packaging
DS Smith
DuPont
Evergreen Packaging
Mondi
Nampak
Ball Corp.
Sealed Air
Tetra Laval

Order a free sample PDF of the Green Packaging Market Intelligence Study, published by Grand View Research.

About Grand View Research

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

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Email: sales@grandviewresearch.com

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Thermal Barrier Coatings Market: Air Plasma Technology Segment Led With A Revenue Share

Thermal Barrier Coatings Industry Overview

The global thermal barrier coatings market size is expected to reach USD 21.69 billion by 2028, growing at a CAGR of 4.8% over the forecast period, according to a new study by Grand View Research, Inc. Increasing demand for advanced heat resistant coatings from several end-use industries including energy, automotive, and aerospace is expected to have a positive impact on the market growth in the coming years. The growing scope of applications in gas turbines, which are widely used across the energy sector, is also expected to propel the product demand.

The Electron-Beam Physical Vapor Deposition (EBPVD) technology segment is estimated to witness significant growth over the forecast period. EBPVD thermal barrier coatings are widely used for gas turbine engine components to improve engine durability and efficiency. The growing gas turbine market is anticipated to significantly drive the demand for EBPVD thermal barrier coatings over the forecast period.

Rising power generation activities across the globe owing to the growing demand for electricity as a result of population growth and rapid urbanization is boosting the growth of gas turbines for power generation. Gas turbines play an important role in reducing Greenhouse Gas (GHG) emissions. As compared to other combustion-based electricity generation applications, these are very proficient and also reduce carbon emissions. Thus, the growth in the power generation sector along with an increased focus on generating electricity through sustainable energy sources is projected to propel the growth of gas turbines in the coming years.

An increasing number of stationary power plant installations in emerging economies is projected to drive the demand further. In addition, increasing product penetration in the aerospace application would also benefit market growth in the coming years. The rising adoption of air plasma and High-Velocity Oxygen Fuel (HVOF) technologies in automotive and aerospace applications is expected to drive product demand in these sectors. Heavy investments by leading industry participants, such as Praxair Surface Technologies, for the development of advanced and innovative coating solutions, will also have a positive impact on the market growth during the forecast period.

Thermal Barrier Coatings Market Segmentation

Grand View Research has segmented the global thermal barrier coatings market on the basis of product, application, technology, combination, and region:

Based on the Product Insights, the market is segmented into Metals, Ceramics, Intermetallics, and Others.

The ceramics product segment led the market and accounted for more than 34% of the global revenue share in 2020. The most commonly used TBC material is yttria-stabilized zirconia, which is a form of ceramic. The key properties of this material include low thermal conductivity, high thermal expansion coefficient, and good erosion resistance.

The ceramic product segment is expected to remain dominant by growing at the fastest CAGR during the forecast period, owing to the superior thermal resistance properties offered, which enable gas turbines to operate at high operating temperatures with higher efficiencies.

Based on the Application Insights, the market is segmented into Stationary Power Plants, Aerospace, Automotive, and Others.

The aerospace application segment led the market with a revenue share of more than 31% in 2020. The increasing purchasing power of consumers has resulted in increased air passenger traffic over the past few years. As a result, there is a growing requirement for advanced and highly-efficient aero-engine technologies to cater to the rapidly growing demand in the aviation industry.

This is expected to have a significant impact on the overall market growth during the forecast period. Expanding aerospace industry in North America is expected to boost the product demand in the region. The presence of key aerospace manufacturers, such as Boeing, is expected to further aid the market growth. Potential customers for TBCs in the aerospace segment are Airbus, Boeing, and Lockheed Martin.

Based on the Technology Insights, the market is segmented into EBPVD, HVOF, Chemical Vapor Deposition, Air Plasma, and Others.

The air plasma technology segment led the market with a revenue share of more than 35% in 2020. Air plasma technology is used for wearing, corrosion protection, and thermal insulation, as well as for repair and restoration in several industrial sectors.

The HVOF technology is a TBC process that is used to restore or improve a component’s dimensions or properties. This technology provides a variety of benefits including improved performance, improved efficiency, low costs, superior electrical properties, the ability of components to operate in higher/lower temperatures & within harsh chemical environments, and enhanced lifespan of components.

Based on the Combination Insights, the market is segmented into Ceramic YSZ, Al2O3, MCrAiY, Mullite-based, and Others.

The ceramic Yttria-stabilized Zirconia (YSZ) combination segment led the market and accounted for more than 38% revenue share in 2020. YSZ is a ceramic in which the crystal structure of zirconium oxide is made stable at room temperature by adding yttrium oxide. These oxides are commonly called zirconia and yttria. The most important application of this material is in TBCs for gas turbines.

Mullite is a compound of alumina and silica, with the formula 3Al2O3-2SiO2. It has low density, good mechanical properties, high thermal stability, low thermal conductivity, and is corrosion and oxidation resistant. However, it gets crystallized, which leads to cracking and delamination. Therefore, this material is suitable as a zirconia alternative for applications such as diesel engines.

TBC Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies & Market Share Insights

The global market is highly fragmented with the presence of various key players. The competition in the market is primarily driven by the application scope and use of thermal spray coatings in various industries. Strategic partnerships, acquisitions, geographical expansions are among the prominent strategies adopted by the players operating in the market. For instance, in November 2019, Praxair Surface Technologies and GE Aviation opened their second facility in Singapore for their PG Technologies business. The facility contains the latest Electron Beam Physical Vapor Deposition (EBPVD) coater as well as other coating processes of PG Technologies. Some of the prominent players in the global thermal barrier coatings market include:

Praxair Surface Technologies
Metallisation Ltd.
Flame Spray Coating Co.
Precision Coating, Inc.
MesoCoat Inc.
Cincinnati Thermal Spray, Inc.
ASB Industries Inc.
Thermion
A&A Company
TWI Ltd.

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North America Cold Storage Market Key Players: Burris Logistics, Inc., Lineage Logistics, And Versacold Logistics Services

North America Cold Storage Industry Overview

The North America cold storage market size is expected to reach USD 86.48 Billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 10.7% from 2021 to 2028. Technological advancements in cold storage warehouses are stimulating the growth of the market. Increasing automation is changing the conventional warehouse operations, enabling companies to maximize their output. Growing penetration of robotics applications, automated material handling equipment, and high-speed conveyor systems help in achieving the order accuracy.

Rising awareness concerning the low ozone depletion potential (ODP) and low global warming potential (GWP) refrigerants to tackle environmental and social facets along with increasing demand for energy-efficient natural refrigerants are the key factors driving the market. Inorganic refrigerants such as ammonia, CO₂, and hydrocarbon-based refrigerants are the most popular natural refrigerants that are being increasingly preferred by end users for their energy efficiency, low cost, and low GDP & ODP.

High running costs, capital investment, and scalability of different picking methods are the key factors restraining the market over the projected period. Additionally, advanced automation, software system, and high-tech advancements in tracking systems and warehousing have led to high requirements for skilled labor. Dearth of skilled labor can restrict the market from realizing its utmost potential.

Compared to other revenue-generation streams for real-estate firms, the North America cold storage construction market is smaller in size. From the owner’s perspective, potential developers and real-estate firms may want to consider investing in cold storage facilities owing to their growing population in the region. Furthermore, there will be a bidding war among investors to acquire Class A (high-quality or newly-constructed building located in central business areas and draws the highest rent) traditional warehouse space in the U.S. and Canada. To avoid such situation, real-estate firms can invest in developing a class B (older than class A buildings and draws less rent compared to class A) warehouse as the cold storage facility.

Key companies operating in the market are Lineage Logistics; Americold Logistics LLC; Burris Logistics, Inc.; Cloverleaf Cold Storage Company; and VersaCold Logistics Services. In addition to cold storage services, market players are providing value-added activities such as food processing and harvesting to increase the product life of fresh foods.

North America Cold Storage Market Segmentation

Grand View Research has segmented the North America Cold Storage Market on the basis of warehouse type, temperature type, construction type, application, and region

Based on the Warehouse Type Insights, the market is segmented into Private & semi-private, and Public.

The public warehouse segment led the market and accounted for more than 76% share of the regional revenue in 2020. It is anticipated to continue its dominance throughout the forecast period. Public warehouses provide duty-paid facilities and can be owned by an individual or an agency.

Private warehouses offer several benefits such as the ability to make independent decisions about the overall activities and priorities of the warehouse and managing the cost and flexibility of business. However, given the high costs associated with construction and maintenance of these facilities, development of private warehouses is limited to only big companies, who can afford the operating costs associated with refrigerated warehouse facilities.

Based on the Construction Type Insights, the market is segmented into Bulk storage, Production stores, and Ports.

The production stores segment led the market and accounted for more than 49% share of the regional revenue in 2020. The bulk storage segment is estimated to register healthy growth during the forecast period. The growth of the segment is attributed to its suitability and preference for storing fruits, vegetables, flour, cooking ingredients, and canned goods for a long time without any spoilage.

The number of warehouses constructed at ports is projected to increase significantly over the coming years. These warehouses can simplify the custom procedures related to import and export of temperature-controlled products.

Based on the Temperature Type Insights, the market is segmented into Chilled, and Frozen.

The frozen segment led the market and accounted for more than 81% share of the regional revenue in 2020. Increasing awareness of hygiene and convenience, which is shifting consumer preferences toward ready-to-eat and cook meals, is supplementing the growth of the frozen product segment. Moreover, frozen food is highly preferred due to its convenience of microwave cooking and innovative packaging. These factors are likely to support the growth of the market over the forecast period.

With the evolution of consumer behavior, focus on sustainability and security, and rising labor costs, the market is witnessing various trends impacting the construction of cold storage. Rather than building new facilities, service providers operating in the region are renovating, upgrading, and replacing the existing cold storage buildings with new equipment and technology to keep up with the dynamic industry demands.

Based on the Application Insights, the market is segmented into Fruits & vegetables, Dairy, Fish, meat & seafood, Processed food, and Pharmaceuticals.

The fish, meat and seafood segment led the market and accounted for more than 36% share of the regional revenue in 2020. The processed food segment is expected to exhibit the highest CAGR over the forecast period owing to continuous innovations in packaging materials. Advancements in packaging materials increase the shelf life of the food, which has increased the trading of processed foods over the past years.

Cold storage has become a lucrative investment opportunity for real estate and private equity firms as these firms understand the dynamics of leasing business. Moreover, refrigerated warehouse facilities benefit from less elastic demand as the demand for food and pharmaceutical products remains unchanged regardless of a country’s economic condition.

Key Companies & Market Share Insights

Cold storage operators are constantly upgrading their technology to stay ahead in the competition and ensure efficiency, integrity, and safety. Despite high initial investments for automating warehouses, factors such as reduced labor and operational costs, improved productivity, fewer warehouses’ accidents, and improved order accuracy help in decreasing the overall cost. Some of the key players operating in the North America cold storage market are:

Americold Logistics LLC
Burris Logistics, Inc.
Cloverleaf Cold Storage Company
Lineage Logistics
VersaCold Logistics Services
Henningsen Cold Storage Company

Order a free sample PDF of the North America Cold Storage Market Intelligence Study, published by Grand View Research.

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Formaldehyde Market: Central And South America (CSA) Is Expected To Witness High Demand

Formaldehyde Industry Overview

The global formaldehyde market size is expected to reach USD 12.21 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.7% from 2021 to 2028. The growth can be attributed to the increasing construction activities across the world. The product is also increasingly being used in the manufacturing of disinfectants, vaccines, and personal care products, including mouthwash and toothpaste, on account of its exceptional antibacterial attributes. Increasing demand for these products is likely to boost the demand for formaldehyde over the forecast period.

A majority of these companies in the market have integrated their business operations across the value chain to incur maximum profit at the lowest investment. With the outbreak of the COVID-19 pandemic, major end-use industries such as automotive, construction, and wood were shut down at a global level, which has a severe impact on the demand for the product. Although, it is also used to produce hard-gel capsules, vaccines, and antibiotics, which positively affected the demand for formaldehyde.

Asia Pacific is expected to witness significant growth in the coming years owing to the rapid growth of the adhesives, automobile, furniture, and electrical and electronics manufacturing sectors in the region. The market in the Asia Pacific is growing on account of its low price, high reactivity, and high-quality performance. In addition, significantly growing construction and automotive industries in Asia Pacific countries, especially in China and India, are likely to trigger the demand for formaldehyde.

Formaldehyde Market Segmentation

Grand View Research has segmented the global formaldehyde market on the basis of derivatives, end-use, and region:

Based on the Derivatives Insights, the market is segmented into Urea Formaldehyde (UF), Phenol Formaldehyde (PF), Melamine formaldehyde (MF), Polyacetal Resins, Pentaerythritol, 1,4 Butanediol, Methylenebis, Hexamethylenetetramine (HMTA), and Others.

The urea formaldehyde segment dominated the market with a revenue share of over 35.0% in 2020. This is attributed to the growing use of the product in several end-use applications including textiles, foundry sand, paper, electrical appliances, agriculture, and wood glue.

The melamine formaldehyde (MF) segment is anticipated to expand at a significant CAGR in the coming years owing to its rising demand across the globe due to its exceptional properties, such as moisture resistance, thermal stability, scratch resistance, flame retardant, strength, and hardness.

Based on the End-Use Insights, the market is segmented into Building & Construction, Automotive, Furniture, Textile, Healthcare, Oil & Gas, Agriculture, Water Treatment, Cleaning Products, HVAC, and Others.

The building and construction segment dominated the market with a revenue share of over 30.0% in 2020. This is attributed to the growing utilization of formaldehyde in numerous construction materials, which helps improve the tensile strength and toughness of building materials.

The furniture segment is projected to exhibit a significant CAGR in the forecast period. Formaldehyde is used to make different types of furniture products, such as bed frames, couches, desks, and stools. It is regulated by the Environmental Protection Agency (EPA) owing to its toxicity. The regulations are set to decrease the emissions from products that are made with composite wood in order to reduce customers’ exposure to formaldehyde.

Formaldehyde Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies & Market Share Insights

Companies are planning to accomplish digitization on the industrial and operational aspects of business, such as industrial automation and remote work enablement, to reduce operational costs and the need for an additional workforce. Manufacturers are focusing on increasing their production capacities to meet demand in the market, thereby offering lucrative opportunities for the growth of the market.

A majority of these companies have integrated their business operations across the value chain to incur maximum profit at the lowest investment. The market for formaldehyde is characterized by the presence of a large number of multinationals and regional players that are engaged in constant research & development activities to formulate advanced products. Some prominent players in the global formaldehyde market include:

Foremark Performance Chemicals
Hexion
Georgia-Pacific Chemicals
Celanese Corporation
BASF SE
Capital Resin Corporation
Evonik Industries AG
DuPont
Alfa Aesar
Ashland
Perstorp
LRBG Chemicals Inc.

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Bio-Based Polyurethane Market: Flexible Foam Segment Accounted For The Highest Revenue Share

Bio-based Polyurethane Industry Overview

The global bio-based polyurethane market size is expected to reach USD 52.8 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 5.9% from 2021 to 2028. Increasing product demand from the automotive industry for the manufacturing of seat cushions, seat backs, armrests, head restraints, and others is anticipated to boost the bio-based PU market growth. In automotive applications, the use of natural fiber-reinforced plastics and plant-based polymer resins helps reduce CO2 emissions and the weight of vehicles, which, in turn, helps improve fuel economy. Thus, increasing government concerns to reduce CO2 emissions across the globe are anticipated to fuel the product demand in automotive applications during the forecasted years.

Expanding application scope in the packaging, building & construction, electrical & electronics, automotive, and consumer goods industries is also anticipated to offer growth opportunities to the key players. For instance, in September 2020, Covestro AG announced its partnership with Shandong INOV New Materials Co., Ltd. to complete the laying of the walkway using CO2-based polyolCardyon. This is the first time that innovative CO2-based materials have been used in China to produce sports floorings. Companies, such as Ford Motor Company, ZMP Inc., La-Z-Boy Inc., and Airysole Footwear Pvt. Ltd., are some of the potential customers in the market.

Increasing concerns regarding toxic issues pertaining to petrochemicals along with depleting crude oil reserves have been driving the development of bio-based polymers like bio-based polyurethane (PU). Regulations imposed by most governments restricting the consumption of petroleum-based plastics in certain applications like medical devices are expected to further incentivize the production of bio-based polyurethane during the forecast period.

Bio-based Polyurethane Market Segmentation

Grand View Research has segmented the global bio-based polyurethane market based on product, end-use, and region:

Based on the Product Insights, the market is segmented into Rigid Foam, Flexible Foam, Coatings, Adhesives, & Sealants, and Others.

The flexible foam segment dominated the global market in 2020 with a revenue share of more than 49%. Bio-based flexible polyurethane foam is light, durable, supportive, and comfortable and is used in various industries, such as automotive, furniture & mattress, footwear, textile, handbag & luggage, home appliances, and packaging.

Bio-based polyurethane coatings are used to provide a smooth durable finish with high resistance to UV and chemical exposure. These coatings are utilized in the construction, wood, textile, automotive, and other end-use sectors to improve the appearance and durability of a product.

Based on the End-use Insights, the market is segmented into Automotive, Building & Construction, Consumer Goods, Electrical & Electronics, Packaging, and Others.

The building & construction end-use segment dominated the global Bio-based PU market in 2020 accounting for more than 35% of the total revenue share. The growth is credited to the high product demand in the building & construction end-use industry due to its beneficial characteristics including excellent insulation, low weight, long life span, and corrosion resistance among others.

Bio-based polyurethane is also extensively used in electrical & electronics applications, such as smartphones, mobile devices, laptops, and TVs owing to its electrical insulation, shock resistance, adhesion, and other properties. Furthermore, technological advancements and increasing demand for Electric Vehicles (EVs) have increased the need for durable and recyclable products.

Bio-based PU Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies & Market Share Insights

The market is highly competitive with the presence of a few medium- and small-scale regional and several global players. Strategic partnerships and acquisitions are some of the prominent strategies adopted by players operating in this market. For instance, in May 2017, Cargill, Inc. acquired BioBased Technologies, which manufactures polyols from renewable sources, such as soy, cashew nutshell liquid, and castor oil. The company offers polyols under the Agrol brand name, which has applications in lubricants, building products, diesel additives, furniture, automotive, adhesives, agricultural products, carpet backings, industrial coatings, and printing inks. Some of the prominent players operating in the global bio-based polyurethane market are:

BASF SE
MCNS
RAMPF Holding GmbH & Co. KG
Covestro AG
Cargill, Inc.
Huntsman International LLC
MCPU Polymer Engineering LLC
WeylChem International GmbH

Order a free sample PDF of the Bio-based Polyurethane Market Intelligence Study, published by Grand View Research.

About Grand View Research

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com