Temperature Controlled Pharmaceutical Packaging Solutions (TCPPS) Market Expectations & Growth Trends Highlighted Until 2030

The global temperature controlled pharma packaging solutions market is anticipated to reach a valuation of US$ 7.4 Bn in 2032, with sales growing at a robust CAGR of 7.8% over the forecast period of 2022 to 2032. Valued at an estimated US$ 4 Bn in 2022, the temperature controlled pharma packaging solutions market is driven by the quickly expanding pharmaceutical sector. The introduction of multiple new drugs and medications are also likely to supplement the market expansion of temperature controlled pharma packaging solutions market over the forecast period.

Chemical goods and pharmaceutical medications that are temperature sensitive make use of temperature controlled pharma packaging solutions. Temperature controlled pharma packaging solutions aid in preserving the temperature of the product thereby preserving the shelf life of the product. This property of temperature controlled pharma packaging solutions encourages attractive market possibilities. Over the past decade, there has been increasing awareness about product safety, specifically in the pharmaceutical sector. Hence, escalating awareness about product safety and maintenance of the product’s shelf life promote the target market expansion.

Moreover, the integration of technologically advanced tools into temperature controlled pharma packaging solutions will further propel the market to grow. Due to stronger packaging regulations, the market players are focused on quality packaging as well as on compliance with the regulations. Thus, these players are utilizing cost effective and technologically advanced temperature controlled pharma packaging solutions. Plenty of lucrative market opportunities are offered to the temperature controlled pharma packaging solutions market due to the use of next-gen tracking technology and high insulation-based packaging solutions.

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Although the target market faces healthy market prospects over the forecasted period, implementation of stringent regulations regarding the packaging of pharmaceutical goods may impede the market growth of temperature controlled pharma packaging solutions.

“This will stimulate the market prospects for temperature controlled pharma packaging solutions over the forecast period,” says an FMI analyst.  

Key Takeaways:

  • Technological enhancements to increase market growth over the forecast period.
  • High maintenance and investment costs may hamper market prospects.
  • The temperature controlled pharma packaging solutions market in Europe is predicted to dominate the global space.
  • Increasing use of temperature sensitive medical products will prompt market growth in the U.S.
  • China will register a high growth rate of the target market over the assessment period.
  • By product type, insulated shippers segment will lead the market growth.

Competitive Landscape 

Sonoco Products Company, Pelican Biothermal, Sofrigam SA Ltd., Cryopak, Cold Chain Technologies, Envirotainer Ltd., va-Q-tec AG, Inmark Packaging, American Aerogel Corporation, and others are some of the major players in the temperature controlled pharma packaging solutions market that are profiled in the full version of the report.

Major market players are focusing on utilizing technological innovations and advancements to expand their business. These organizations are increasing their investment in research and development activities to introduce more efficient products in to the market to gain a competitive advantage.

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More Insights into the Temperature Controlled Pharma Packaging Solutions Market Report

In its latest report, FMI offers an unbiased analysis of the global temperature controlled pharma packaging solutions market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented based on product (insulated shippers (panels and envelopes, EPS foam containers, fiberboards, PUR containers), insulated protective shippers, insulated containers (chest style, upright style), others (refrigerants, gel, icepacks, phase change materials, etc.), application (frozen temperature controlled pharma packaging solutions, chilled temperature controlled pharma packaging solutions, ambient temperature controlled pharma packaging solutions), and region.

According to the latest FMI reports, based on region, the temperature controlled pharma packaging solutions market in Europe will likely dominate the global arena. The target market in this region is expected to grow and develop at a rapid rate during the projected period. Escalating disease outbreaks coupled with high demand for cold storage for medical goods in the healthcare sector will drive the market growth during the assessment period.

Apart from Europe, countries like the U.S. and China are projected to exhibit impressive growth over the forecasted period. A prosperous pharmaceutical industry along with rising demand for vaccines and other temperature sensitive medical goods foster market growth in the U.S. whereas in China, the market growth is driven by extensive research and development activities on thermal packaging solutions.

Based on segmentation, on the basis of product type, the insulated shippers segment is estimated to account for the highest revenue while the chilled temperature controlled pharma packaging solutions segment will register the highest demand over the forecast period.

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage

2.2. Market Definition

3. Key Market Trends

TOC continued…!

 

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Camping and Caravanning Market Will Expand at a CAGR of 7.6% Through 2030

The global camping and caravanning market size to rise at a CAGR of ~7.6% between 2020 and 2030, Future Market Insights foresees stable growth for the market. Nowadays, most of the countries, such as the Philippines, India, Thailand, Brazil, and UAE, are significantly investing in their airports to improve arrival/departure facilities for a large number of tourists in the foreseeable future.

Moreover, players in these countries focus on restoration of heritage and camping sites, as well as infrastructure. Additionally, improvement of lifestyle, showcasing culture & diversity, and cooperative partnerships between governments to enhance infrastructure for better living and commuting are other factors contributing to the growth of the camping and caravanning market.

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Key Takeaways from the Camping and Caravanning Market Study

  • According to the report, companies are increasingly focuses on customer loyalty programs, as the camping and caravanning is a customer-driven market, and players target a particular set of customers and retain them by meeting their requirements. Accordingly, the development of technology-driven, customer-centric services and innovative discount offers through gift cards is expected to boost the revenue of the companies in the global camping and caravanning market.
  • Nowadays, e-Gifting is gaining popularity among consumers, owing to advantages such as convenience, easy availability, and customization benefits. Thus, prominent players in the camping and caravanning market offer e-Gift cards to customers with an objective to retain them in the future.
  • The Europe region is expected to retain its dominant position in the global camping and caravanning market, due to increase in frequency and length of holidays by young population in the caravan camping parks coupled with growing trend of mobile homes without relying on hotels or motels in the region.
  • Among destination type, the privately owned campgrounds segment is anticipated to show a relatively higher CAGR in the global camping and caravanning market in the near future, as increasing number of millennial campers and rise in demand for luxury camping facilities across the globe.

“Prominent players in the global camping and caravanning market are focusing towards loyalty programs to attract customers towards camping activities. Moreover, prominent players are significantly advertising and promoting gift cards for campers through social media and other offline stores to increase customer awareness and retention rate” says an FMI analyst.

Staying connected on social media while camping remains a priority of millennials. The availability of Wi-Fi and improved cell phone service at campgrounds is increasing the active participation of millennials in camping parks, is anticipated to propel the camping and caravanning market in the foreseeable future. Additionally, the fast-paced advertising and technological landscape has become an essential part of the camping and caravanning industry, as tourists seek the best travel experience in a shorter duration is another factor drives the global camping and caravanning market over the forecast period.

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Who is winning?

Some of the key players operating in the camping and caravanning market ACCOR SA, Internacional Palamos, Radisson Hotel Group, Haven Leisure Limited,  Hilton Worldwide Holdings Inc., TENTRR, HIPcamp, Vacansoliel, Selectcamp, ACSI Holding BV, and others.

Several prominent market players are significantly exploring new camping sites as more and more people are showing interest in adventure camping and glamping. Besides this, companies are also significantly improving their digital presence to meet customer expectations and introducing new customer loyalty programs by providing personalized experiences and reserving exclusive offers for members.

  • In January 2020, Hilton Worldwide Holdings Inc. introduced a new lifestyle hotel brand ‘Tempo’, to serve the growing segment of modern achievers. This new chain of hotels, with wellness and sustainability at the foundation, will provide a unique experience to younger and eco-friendly travellers. This expansion is anticipated to help the company expand its product portfolio and market footprint worldwide.
  • In 2020, ACSI Holding BV introduced new ACSI guides and apps for campers who likes to visit campsites with their own motorhome. This will enable travelers to camp at bargain prices off-season at more than 3,600 campsites in Europe. It will also provide extensive information about 8,000 ACSI-inspected campsites.

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Trimer Acid Market- Major Revenue Gains are Expected by 2032

According to Future Market Insights, the global Trimer Acid Market is expected to grow at a 4% CAGR between 2022 and 2032. (FMI). Trimer acid demand is being driven by rising demand for adhesives and sealants, as well as synthetic lubricants.

Trimer acid’s increasing use in polymers and other chemical products is predicted to raise trimer acid market usage. As a result, demand for trimer acid in the construction industry is likely to drive sales during the next decade.

The building chemicals industry is expanding rapidly, which will have a favourable impact on the trimer acid market over the forecast period. Trimer acid use is expanding due to increased government investments in infrastructure development and construction spending around the world.

Application of trimer acid in the manufacturing of paints & protective coatings in building and construction sector are anticipated to be major growth drivers. Additionally, surging trend of bio-based adhesives and lubricants is expected to further boost the sales of trimer acid.

However, environmental regulations pertaining to the use of chemically treated products and the concerns regarding rising prices of raw material is expected to be key factor hampering the growth of trimer acid market worldwide.

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Key Takeaways:

  • In terms of application, coating segment in the global trimer acid market is dominating the market.
  • Rising demand for high performance adhesives is expected to provide growth to the adhesives & sealants segment, registering considerable growth between 2022 and 2032.
  • China and the U.S. is expected to be one of the key consumer in global trimer acid market owing to high presence of industries and raw materials suppliers in the country.
  • Russia is expected to dominate the Europe timer acid market throughout the assessment period on the back of increasing application in construction industry.

Competitive Landscape         

Key market participants in the global trimer acid market profiled in the report includes Kraton Corporation, Liancheng baixin science and technology Co., Ltd, Alfa Chemical Corporation, Soofi Enterprises, Spectrum Chemical Mfg. Corp, Riteks, Croda lubricants, Fujian Zhongde Energy Co., Ltd., Univar USA, Inc., among others.

Key players operating in the global trimer acid market are focusing on increasing their production capacities to boost their market footprint especially in the emerging economies. Furthermore, market participants are focusing on mergers, acquisitions and collaborations strategies to expand their global presence and strengthen their distribution network.

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Key Segments Profiled in the Global Trimer Acid Market

By Type:

  • Standard Trimer Acid
  • Distilled Trimer Acid
  • Distilled & Hydrogenated Trimer Acid

By Application:

  • Non-Reactive Polyamide Resin
    • Viscosity Modifiers
    • Corrosion Inhibitor
    • Reactive Polyamides Resin

By End Use:

  • Adhesives & Sealants
  • Drilling Fluid
  • Printing Inks
  • Surface Coatings

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • China
  • India
  • SEAP
  • Japan
  • Middle East and Africa

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Methane Sulfonic Acid Market- Major Revenue Gain is Predicted by 2031

According to Future Market Insights (FMI) in a recent market report, the global methane sulfonic acid market is expected to grow at a steady 4.9% CAGR between 2021 and 2031. The expanding electronics sector is driving up demand for methane sulfonic acid. The growing demand from the electronics and pharmaceutical industries is predicted to significantly contribute to the growth of the methane sulfonic acid market.

The increased usage of electronics in daily use will drive up sales in the electroplating market. The increased production of electronic items, pharmaceutical pharmaceuticals, and medicines is also increasing methane sulfonic acid use. Increased consumption of methane sulfonic acid in biodiesel production and chemical synthesis, where it serves as a catalyst, is likely to drive the market throughout the assessment period. The electroplating and pharmaceutical segments account for the majority of the worldwide methane sulfonic acid market.

Methane sulfonic acids are widely employed in a wide range of industries, including electroplating, pharmaceuticals and medical, chemical synthesis, biodiesel manufacturing, and so on. Methane sulfonic acid has developed as a green alternative to other acids, and it is employed as a catalyst in numerous processes. As a result of these factors, the methane sulfonic acid market is predicted to exceed US$ 1.13 billion by the end of 2031, with a compound annual growth rate of 4.9 percent over the next assessment period.

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As per FMI, the market is predicted to be dominated by East Asia. The region which is expected to continue leading the global market through the period of evaluation.

“Surging application in the production of electronics and consumer appliances will remain a chief growth driver. In order to capitalize on existing prospects, the market players are likely to customize their solutions as per industry specific requirements,” says an FMI analyst.

Key Takeaways:

  • By grade, demand for industrial methane sulfonic acid is expected to surge at a 5.0% CAGR over the forecast period.
  • The pharmaceutical grade methane sulfonic acid segment is projected to hold approximately 19.9% of the total market share in 2021.
  • Electroplating segment is anticipated to grow at 5.1 % CAGR through 2031.
  • Methane sulfonic acid market in the U.S. is anticipated to grow by 5.1% CAGR by year in 2031.
  • China will emerge as an attractive methane sulfonic acid market, accounting for maximum sales in East Asia.
  • Japan and South Korea will collectively account for 14.8 % of the total methane sulfonic acid market share through 2021.

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Competitive Landscape         

Key participants in the global methane sulfonic acid market elaborated in the report includes BASF SE, Arkema Group, Hydrite Chemical Company, Oxon Italia S.p.A., Varsal Inc., Zhongke Fine Chemical, Hebei Yanuo Bioscience Co Ltd, Miles Chemical Company Inc., Xiaochang Jinji Chemical Co ltd and others.

Key players operating in the market are focusing on increasing utilization of methane sulfonic acid in electroplating of electronics items. They also are focusing on collaborations, mergers, and acquisitions to expand their production facilities and distribution channels. For instance:

  • In January 2020, as already announced at the end of 2018, BASF will proceed with the expansion of global capacities for methane sulfonic acid (MSA) to 50,000 metric tons per year. The volumes from the additional capacity are expected to be available from the end of 2021 and are dedicated to mainly serving European customers as well as the rapidly growing Asian market.

More Insights into the Methane Sulfonic Acid Market Report

In its latest report, FMI offers an unbiased analysis of the global Methane Sulfonic Acid market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of grade (industrial & pharmaceuticals), product form (solid & liquid) and applications (electroplating, pharmaceuticals, chemical synthesis, biodiesel production & others) across six regions (North America, Latin America, Europe, East Asia, South Asia Pacific and Middle East & Africa).

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Recycled Scrap Metal Market- Global Revenue Growth Expectations in the Near Future

According to Future Industry Insights (FMI) in a new market analysis, the worldwide recycled scrap metal market is expected to grow at a steady 5.4% CAGR between 2021 and 2031. Increased iron and steel production is increasing demand for recovered scrap metals. The increasing use of scrap metals in steel manufacturing and nonferrous metals processing is predicted to increase the consumption rate of recycled scrap metals.

The rapid development of the building and construction industries is also boosting sales of recovered scrap metals. Increases in the production of automobiles, ships, and aeroplanes are simultaneously increasing the consumption rate of recycled scrap metal.

Production and processing of ferrous as well as non-ferrous metals produces scrap. These scraps are further utilized in the processing of various products to reduce waste generation. Growing demand for waste management and initiatives taken by regional government bodies to minimize waste is expected to bolster sales of recycled scrap metals over the forecast period.

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As per FMI, the East Asia region is anticipated to be a key consumer of recycled scrap metals owing to strong production of iron and steel, especially in China. Backed by the aforementioned factors, the global recycled scrap metal market is projected to top US$ 98.5 Bn by 2031.

“Increasing production of electric vehicles in the automotive sector, along with rising sales of consumer electronics and wearables are anticipated to continue driving sales of recycled metal scraps over the assessment period,” says an FMI analyst.

Key Takeaways:

  • By metal type, demand for ferrous metals is expected to surge at a 5.4% CAGR over the forecast period.
  • The post-consumer recycled scrap metal segment is projected to hold approximately 85% of the total market share in 2021.
  • Applications of recycled scrap metals in the equipment and tools segment are anticipated to grow at a 4.6% CAGR through 2031.
  • Sales of recycled scrap metals in the U.S. are anticipated to increase by 4.9% year-over-year in 2021.
  • Russia will emerge as an attractive recycled scrap metals market, with sales growing at a 4.4% CAGR in 2021.
  • China is expected to account for over 80% of the East Asia recycled scrap metals market share in 2021.
  • Japan and South Korea will collectively account for 9.9% of the total recycled scrap metals market share through 2031.

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Competitive Landscape         

Key market participants in the global recycled scrap metal market elaborated in the report includes ArcelorMittal, Aurubis AG, China Baowu Group, HBIS Group, Sims Metal Management Ltd., HKS Metals, Nucor Corporation, AMG Resources Corporation, Celsa Group, EMR Group, CRONIMET Holding GmbH, GLE Scrap Metal, Tucson Iron and Metal, ELG Haniel GmbH, Atlantic Recycling Group, LLC, Baroni Scrap Metal LLC, Kuusakoski Group Oy, IMR Innovative Metal Recycling GmbH, Romukeskus Oy, Commercial Metals Co (CMC), MetalCirc Oy, GMH Recycling GmbH, Eco-Bat Technologies Ltd., and Evraz plc.

Key players operating in the global recycled scrap metal market are focusing on increasing utilization of scrap metals to produce iron and steel to decrease waste generation and operating expenditure. Further, leading players are focusing on collaborations, mergers, and acquisitions to expand their production facilities and distribution channels. For instance:

  • In Oct 2021, Nucor launched Econiq, a series of net-zero carbon steel products. By Econiq, Nucor is providing the lowest greenhouse emission gas steel products to steel consumers.

Increasing Iron and Steel Production Boosting Recycled Scrap Metal Sales

Rapid expansion of the construction sector, automotive production, industrial machinery, tools and equipment sector, and ship building is spurring the demand for iron and steel. Investment towards infrastructure, especially in developing nations is also boosting demand for iron and steel in civil construction. This is resulting in increasing sales of recycled scrap metals, and the trend is expected to continue over the forecast period.

Significant growth in the construction and infrastructure sector in China in the past few years has boosted the consumption of iron and steel, resulting in high demand for scrap metals for the production. As scrap metal utilization helps in reducing carbon emission and waste generation, key players are preferring scrap metals to produce iron and steel. This reduces overall production cost and helps companies in achieving their sustainability goals.

China also has significantly increased its steel production in the last decade, which has boosted the demand for recycled scrap metals. Overall increase in iron and steel production is anticipated to propel the consumption rate of scrap metals in the coming years.

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More Insights into the Recycled Scrap Metals Market Report

In its latest report, FMI offers an unbiased analysis of the global recycled scrap metal market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of metal type (ferrous and non-ferrous), source (production scrap and post-consumer scrap) and end-use (transportation, building & construction, consumer electronics, packaging, equipment & tools, art, décor and home furnishing and jewelry) across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

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Potassium Carbonate Market- This is How Leading Companies Are Dominating the Global Market

A recent analysis by Future Market Insights (FMI) uncovered untapped potential prospects in the worldwide potassium carbonate market. It provides in-depth insights into the elements that enable product shape and end use expansion across diverse segments.

According to an FMI analysis, the worldwide potassium carbonate market is expected to reach US$ 1.9 billion in 2021. Potassium carbonate consumption is expected to rise due to increased demand from industries such as consumer goods, agrochemicals, and homecare. As a result, the market is expected to exceed US$ 2.9 billion by the end of 2031.

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Historically, the sales grew at a CAGR of 2% in the last few years due to the outbreak of the COVID-19. Growing usage of potassium carbonate in the production of personal care products, water treatment, and fire suppression products is fuelling the demand in the market. Driven by this, the sales of potassium carbonate are projected to expand at a CAGR of 4.4% during the forecast period 2021-2031.

Potassium carbonate is extensively used as a flux in the manufacturing of glass as it increases the transparency, resistance, and refractive coefficient of glass to provide excellent clarity. Increasing demand for glass products such windows across building & construction and automotive industries is expected to create lucrative growth opportunities for the market.

As per FMI, North America is expected to dominate the global market, growing at a CAGR of 4% through 2031. Rising sales of packaged food & beverage products such as chocolates, bakery products, and dried fruit in U.S. and Canada are driving the sales of potassium carbonate in the region.

“Rising application of potassium carbonate in the agrochemical industry, coupled with the government initiatives implemented to boost agricultural production, is expected to augment the growth of the market,” says the FMI analyst.

Key Takeaways from Potassium Carbonate Market Study

• Favored by the surging demand from the chemical industry in the U.S., the sales in the country are expected to rise at 3.8% year-on-year (YoY) in 2021.

• The market in India is estimated to witness a swift growth, exhibiting 5% YoY in 2021.

• China is projected to emerge as the fastest growing market in East Asia, expanding at a CAGR of 5.1% over the assessment period.

• South Korea and Japan are forecast to account for nearly 13.2% and 17.6% of the global revenue share, respectively, by the end of the coming decade.

• In terms of form, powder form of potassium carbonate is anticipated to register increasing demand, exhibiting 4.2% YoY growth in 2021.

Competitive Landscape

The top manufacturers in the global potassium carbonate market are Oxy (Occidental Petroleum Corporation), Evonik, Zheijang Juhua Co. Ltd., AGC Chemicals and Armand Products. These companies are projected to account for nearly 58% of the total sales, as per FMI.

Leading players are increasingly investing in expanding their production capacity to meet the demand from various industries. Some of the players are aiming at strategic collaboration, joint venture, mergers and acquisitions to increasing their market share. For instance,

• In July 2021, Vynova, a leading Chlor-alkali and Polyvinyl chloride (PVC) manufacturer based in Belgium, announced to set a new manufacturing facility in Belgium to expand its production capacity and strengthen its footprint in Europe market.

Some of the key players operating in the market profiled by FMI are:

• Evonik Industries AG
• UNID GLOBAL Corporation
• Oxy (Occidental Petroleum Corporation)
• Gujarat Alkalies and Chemicals Limited
• Vynova Group
• AGC Chemicals
• JSC Pikalevskaya Soda
• Esseco Group
• Shanghai Wentong Chemicals Co., Ltd.
• Foodchem International Corporation
• Shanxi Guangyuan Fertilizer Co., Ltd.
• Armand products
• Zhejiang Dayang
• Zhejiang Juhua Co., Ltd.
• Hebei Xinjichemical

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More Valuable Insights on Potassium Carbonate Market

By Product Form:
• Granules
• Powder

By End Use:
• Soaps, Detergents & Cleaning Products
• Agrochemicals
• Food & Beverage Processing
• Personal Care Products
• Glass
• Dyes & Inks
• Fire Suppression Products
• Water Treatment
• Others

By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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Biocides Market will Record a Sluggish 3.5% CAGR through 2031

According to Future Market Insights (FMI), the biocides market will increase at a 3.5% CAGR between 2021 and 2031. Growing demand for biocides from industries such as water treatment, paints and coatings, wood preservatives, oil and gas, cleaning chemicals, agrochemicals, paper and pulp, and others is likely to boost sales throughout the assessment period.

The increased use of preservatives in many industries is also predicted to increase the use of biocides. According to the report, biocide use as a preservative is predicted to grow in a variety of industries, including food and drinks, paper and pulp, cosmetics and personal care, wood, and others.

Aside from that, the usage of biocides in surface cleaning of various industries such as food and drinks, pharmaceuticals, and paints and coatings is expected to increase in the approaching years. Unlike in other markets, the exceptional outbreak of COVID-19 had little influence on biocide sales. While production activity had a minor setback, demand for disinfectants increased significantly throughout the FQ-20, boosting market expansion.

According to FMI, biocide demand increased by 3.50% between 2020 and 2021, with sales estimated to reach US$ 8.3 billion in 2021.

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Key Takeaways from Biocides Market Study

  • Global market for biocides is projected to reach a value of US$ 11.74 Bn by the end of the forecast period.
  • China is estimated to remain a key market for biocides, with East Asia accounting for 32% of the global volume share.
  • Surging application of biocides in water treatment segment will boost the sales. Sales in this category will total US$ 3.8 Bn by 2031.
  • By type, the halogen compounds segment is projected to grow at a steady rate in the coming years, especially in South Asia Pacific and East Asia markets.
  • Industrial grade biocides are estimated to remain top-selling grade. The segment is expected to register year-on-year growth of 4.0% in East Asia.

Biocides Market: Participant Insights                                                                   

Key participants in the global biocides market elaborated in the report includes Clariant AG, Lonza Group, ICL Group, BASF SE, DOW, Veolia, Troy Corporation, Nouryon, Kemira Oyj, Ecolab USA Inc., Albemarle Corporation, Solvay SA, Lanxess AG, Buckman Laboratories International, Melzer Chemicals Private Limited, Dalian Xingyuan Chemistry Co., Ltd., Aegis Chemical Solutions, B&V Chemicals, Helvemed SA, Thor Group, SIDDHARTH CHEMICALS, Solenis, Zaozhuang Kerui Chemicals Co., Ltd. and Shandong IRO Biocide Chemicals Co., Ltd.

Key players are focusing on strategic expansions through collaborations, mergers and acquisitions with other market participants to increase their annual turnover. Market players are also investing a fair share of their revenue in product development and process intensification to sustain their position in the industry.

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Demand in The Special Interest Tourism Market is Slated to Increase at a 22.7% CAGR During the Forecast Period

The special interest tourism market size  is estimated to reach US$ 3,489.7 Bn in 2022. As per the report, sales are forecast to increase at a robust 22.7% CAGR, with the market valuation reaching US$ 26,921.1 Bn by 2032. Total sales in the special interest tourism market represent 10-15% of the global tourism market.

Surging focus on sustainability will remain chief driver of special interest tourism. An increasing number of rural advocates, government officials, and farmers are enthused about prospects of direct farm marketing. Direct marketing aids in rural development by attracting agricultural tourists.

Recreational activities such as pick your own food, cut-your-own Christmas trees, and others are organized under this concept, facilitating special interest tourism growth around the world.

Agritourism is thriving across the world since it offers unique opportunities for combining aspects of agriculture and tourism industry, offer a plethora of educational, financial, and social benefits to tourists and communities, alike.

Expansion of agritourism is presenting lucrative opportunities for special interest tourism growth. Ranch stays across the U.S. and farm stays in India are popular example for this. Besides this, the rising focus on sustainably travelling will enable growth in the market. With an increasing number of travelers showing keen interest on traveling more responsibly, prospects for special interest tourism growth are expected to soar.

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With COVID-19 pandemic exposing vulnerabilities of the tourism industry, focus on sustainable tours and travels is expected to grow. United Nations World Tourism Organization has integrated Sustainable Tourism Goals encouraging adherence to certain standard while promoting tourism. Such initiatives by international organizations will boost special interest tourism market in the coming years.

Some of the key takeaways from FMI’s study on special interest tourism market are:

The expansion of tourism industry in France and U.K. will catapult Europe to fore of special interest tourism marketActivities will remain key purpose motivating travelers to opt for special interest tourismEnvironmental activities will remain highly sought-after, while demand for adventure tourism is forecast to rise steadilyOnline booking will rise even as conventional methods such as in-person booking remain popular

“Governments around the world are adopting various strategies to revive tourism industry as economies return to normalcy following COVID-19 outbreak. Keen focus on special interest tourism is noted, as governments engage in promoting special activities across tourism destinations,” revealed a lead analyst at FMI.

Surging Demand for Personalizing Tour Packages

According to Think with Google, nearly 57% of travelers are in favor of personalizing their buying experiences based on their personal preferences, behavior, and past choices.

The rising demand for personalization has become a crucial driver of the special interest tourism growth. By offering flexible packages and tailoring them as per traveler’s preferences, travel and tour companies stand a better chance of satisfying them. The rising demand for personalizing travel packages and experiences will aid in the expansion of the market in the coming years.

Driven by changing consumer preferences, prominent trip advisors and planners such as Travel Triangle and others are offering facilities for personalizing travel experiences. This is expected to bode well for the global market.

Who is winning?

The report identifies some of the leading companies operating in the market. To gain edge amid surging competition, market players are focusing on designing unique packages. For instance, Martin Randall Travel Ltd. offers competitively-priced trips across U.K. and Europe. Meanwhile, Audley Travel Group Ltd., supports several social and environmental charities and projects across the world. In January 2020, it was also granted the Travelife Partner aware as a recognition of its efforts towards improving corporate social responsibility and sustainability.

Some of the other leading players in the market are Wild frontier, Carlson Holdings, Inc., Cox & Kings Ltd., Flight centre Travel Group, National Geographic Partners, LLC., EF Educational Tours, and Booking Holdings, Inc., among others.

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Global Special Interest Tourism Market by Categor

By Purpose:

  • Activity
  • Educational
  • Discovery
  • Hobbies
  • Challenge
  • Relaxation
  • Health & Therapy
  • Day Tours

By Activity:

  • Environmental
    • Ecotourism
    • Nature-Based Tourism
    • Wildlife Tourism
    • Others
  • Adventure
    • Backpacking
    • Mountaineering
    • Whitewater Rafting
    • Cycling
    • Others
  • Sport
    • Golf
    • Tennis
    • Sailing
    • Soccer
    • Cycling
    • Kayaking
    • Scuba Diving
    • Others

By Tourist Type:

  • Domestic
  • International

By Traveler Type:

  • Individual
  • Couple
  • Group
  • Professional

By Age Group:

  • 15-25 Years
  • 26-35 Years
  • 36-45 Years
  • 46-55 Years
  • 66-75 Years

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Water Adventure Tourism Market is Projected to Reach US$ 845.8 Billion by 2032

The water adventure tourism market to reach US$ 845.8 Billion by 2032, up from US$ 156.9 Billion in 2022, progressing at a CAGR of 16.9% during the forecast period.

Special interest tourism is a type of tourism that facilitates the customisation of tourism activities to cater to the specific interests of individuals and / or groups. A particular need or interest is addressed in the special interest tourism sector. Adventure tourism is a type of special interest tourism, which engages an individual in natural, physical and cultural excursions that results in the individual coming out of his/her comfort zone.

This is carried out by an established tour company or agency. Water adventure tourism is a sub type of special interest tourism under the category of adventure tourism. Water adventure or water based tourism refers to tourist activities undertaken at water resources such as dams, lakes, canals, seas, coastal zones, oceans and creeks.

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Water sports enthusiasts look forward to explore hard as well as soft water based adventures and activities such as water sports – canoeing, sailing, kayaking, river rafting, water-skiing and scuba diving. It is a niche type of tourism that involves exploration and travel in an unfamiliar, remote, exotic and wilderness location.

Water Adventure Tourism: Popularity

Water adventure tourism, or water based tourism is gaining popularity in the current global scenario. The factors contributing to the increased popularity of water adventure tourism are listed below:

  • Individuals are more interested in pursuing risky adventures, instead of boring tours with less activities
  • The rise in disposable income has facilitated the growth in tourism all over the world. Money, income and spending power are special influencing factors of the water adventure tourism sector
  • Advent of technology and developments in water sport equipment have a reinforced effect on the safety of individuals, because of which there is an increased participation in water sports, expanding the horizon of water adventure sports and thereby impacting the water adventure tourism sector
  • Skilled personnel and trainers are available to help and guide the tourists, impart knowledge and technical know-how in order to use the underwater equipment (scuba diving and deep sea diving) conveniently

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Water Adventure Tourism: Challenges

Like every other tourism segment, the water adventure tourism sector also faces certain challenges.

Though the popularity of water sports is rising, there are issues faced by tourists in terms of risk management (despite regulating risk mitigation programmes, people tend to adhere to their own terms), equipment (water sports equipment might be faulty during manufacturing and is not checked sometimes owing to brand new packaging that gives a sense of assurance to the tourists; owing to which accidents tend to happen).

Water sports agencies can also face problems with respect to misbehaviour of the tourists, trip cancellations and overall resources and tour management issues.

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Water Adventure Tourism: Different Sports and Equipment

There are various water sport activities in water adventure tourism. Even if related to water as a common aspect, each of these water sports activities are unique with respect to the experience gained and the level of risk involved.

Water enthusiasts engage themselves in activities such as white water rafting that is famous in Malaysia, kayaking in Vietnam, kite boarding in Thailand, surfing in Playa de Famara, scuba diving in Brisbane, kayaking in California, jet skiing in Miami, wind surfing in Spain and wake boarding in Australia.

These are some of the water sports activities famous in the mentioned locations. Water sports equipment and apparel are two important factors to be considered while undertaking water adventure tourism.

There are several water equipment and gears such as knee boards, swim goggles, wake boards, kayaks and canoes, water skis, life vests, diving suits, rebreathers, diving computers and gauges and so on. Some of the manufacturers producing these equipment include Adidas, Arena, Mikasa, Speedo International, Baden, Nike, Billabong, Turbo, KAP7 and Under Armour.

Key Segments in the Water Adventure Tourism Market

By Tourist Type:

  • Independent Traveller
  • Tour Group
  • Package Traveller

By Activity Type:

  • Kayaking
  • Surfing
  • Boat Rides
  • Jet Skis
  • Paddle Boards
  • Wind Surfing
  • Rafting
  • Scuba Diving
  • Parasailing
  • Others

By Age Group:

  • Kids
  • Adults

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Unit No: 1602-006
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North America Organic Fertilizers Market Size & Share | Global Industry Report for 2031

According to the most recent market research from Future Market Insights (FMI), the shipment of organic fertilizers across North America will reach 4,327.5 KT by the end of 2021. Because of growing awareness about the health benefits of eco-friendly products and rising demand for organic food items, demand for organic fertilizers is expected to rise significantly, reaching US$ 3.17 billion.

The growing public knowledge of the harmful effects of synthetic chemicals found in herbicides, insecticides, and fertilizers on human health and the environment is driving up demand for organic products. This is predicted to enhance demand for organic farming in North America, resulting in organic fertilizer sales growing at a 5.8% CAGR in terms of volume.

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Also, the market in North America is expected to witness remarkable growth due to the growing focus on sustainability among consumers, especially in the U.S. Various stringent regulations imposed by regional governments and environmental regulatory bodies to encourage the production of organic food products are expected to increase the adoption of organic fertilizers over the forecast period.

Organic cultivation has numerous benefits both in terms of soil quality and human health. However, there are numerous challenges faced while using organic fertilizers. Organic fertilizers are usually priced much higher (mostly 2-4 times) than the conventional fertilizers.

Moreover, as organic fertilizers are lower in nutritional content (n-p-k) value, they also need to be applied at higher rates. In some cases, where the soil nutrient content is very low, organic fertilizers alone cannot meet the demand.

The initial yield during conversion of land from inorganic to organic is also quite lower. Also, there are additional costs required for the certification of organically cultivated products. Hence, farmers are sometimes reluctant to invest in organic fertilizers. This could restrain the growth of the market to an extent.

Nonetheless, favorable government initiatives and subsidies will help improve the adoption of organic fertilizers, improving the market growth as well. Owing to these factors, the North America organic fertilizers market is poised to expand at a robust pace.

Key Takeaways from Organic Fertilizers Market Study

  • North America organic fertilizers market is expected to expand at 6.9% CAGR in terms of value between 2021 and 2031.
  • Fruits and vegetables will dominate in terms of application, followed by cereals and crops.
  • Based on form, the solid organic fertilizers will lead the market, accounting for nearly 72.4% of market share.
  • The U.S. is expected to be the most lucrative country owing to the growing adoption of organic farming methods in the country
  • In terms of source type, animal source will lead the segment, holding over 72.1% of market revenue.

Organic Fertilizers Market: Participant Insights                                                 

According to the Market Research analysis Sustane Natural Fertilizer Inc, True Organic Products Inc, California Organic Fertilizers Inc., Purely Organics LLC, Fertoz Limited, Fertilizers USA LLC, The Scotts Miracle-Gro Company, Sigma AgriScience, LLC, Bio Green USA, Inc., American Plant Food Corporation and others are identified as Key Players in the North America Organic Fertilizers market.

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North America Organic Fertilizers Market by Category

By Source Type:

  • Plant Source
  • Animal Source

By Application:

  • Cereals and Crops
  • Fruits and Vegetables
  • Lawns, Turfs and Gardens

By Form:

  • Solid
  • Liquid

By Country:

  • US
  • Canada

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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Plot No: JLT-PH2-X2A
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