Heat Recovery Steam Generators Market To Expand At A 5.7% CAGR By The End Of 2031: FMI

 

These factors are expected to cause the market to expand at a steady CAGR of 5.7 percent, with the U.K., the U.S., Germany, and Japan emerging as major producers.

As per ESOMAR-certified consulting firm Future Market Insights (FMI), the global heat recovery steam generator market is anticipated to reach US 1.1 Bn in 2021. With the U.S., the U.K., Germany, and Japan emerging as key producers, the market is poised to grow at a 5.7% CAGR through 2031.

In addition, government initiatives in counties such as the U.S., the U.K., India, and China regarding the promotion of renewable energy will spur demand for heat recovery steam generators in the forthcoming years.

Further, sophisticated customization and innovative product solutions offered by OEM’s and heat recovery steam generator players will continue providing tailwinds to sales.

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As per FMI’s regional analysis, the U.K. is anticipated to lead the European heat recovery generator market. Stringent regulations regarding carbon emissions in the European Union, coupled with increasing adoption of renewable energy sources will enhance growth prospects through 2031.

“Increasing investments in the power generation sector to improve efficiency, coupled with inorganic growth strategies adopted by OEMs for better market reach will continue augmenting growth in the forthcoming years,” says the FMI analyst.

Key Takeaways:

  • Fully assembled heat recovery steam generators will remain the most preferred type of design.
  • In terms of configuration, horizontal drums will account for maximum sales.
  • Based on output power, 0-60 MW segment is poised to experience high demand.
  • Combined heat and power plants will dominate the application segment.
  • The U.S. is anticipated to witness high demand for heat recovery steam generators, owing to increasing energy production and need for sustainable methods. The North American market is poised to grow at a 4.4% CAGR.
  • The U.K. will continue leading the European heat recovery steam generator market, expanding at a 4.6% CAGR.
  • Demand for heat recovery steam generators will continue rising in China, due to rising adoption of combined cycle plants.
  • India will emerge as a lucrative market, owing to government-backed initiatives promoting renewable energy production.
  • Japan and South Korea will collectively account for 5% of the total market share.

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Competitive Landscape

Cleaver-Brooks, Siemens AG, General Electric, CMI Group, John Wood Group PLC, Cannon S.p.A., Mitsubishi Hitachi Power Systems, Ltd., Rentech Boilers Systems Inc., Hamon Deltak, Inc., AC BOILERS SpA, SES Tlmače, a.s., and Xizi United Holdings Limited are some players operating in the heat recovery steam generator market profiled by FMI.

Top 5 players in the market include General Electric, Siemens AG, CMI Group, John Wood Group plc, and Mitsubishi Hitachi Power Systems Ltd., accounting for 75.5% of the total market share.

Leading players, as a part of their growth strategies, are focusing on strategic collaborations, mergers, and acquisitions to expand their global footprint and improve their product portfolios. For instance:

  • In August 2021, Siemens Energy and state-owned Egyptian Electricity Holding Co. have signed a memorandum of understanding to develop a hydrogen-based, including a 100-200 MW pilot electrolyzer facility for the clean energy industry.
  • In August 2021, Mitsubishi Power’s Philippines unit secured a three-year term service agreement to maintain boilers of the Davao coal plant of Aboitiz Power Corp. The agreement is intended to maintain reliable energy access in Mindanao.

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Lamella Clarifier Market is expected to be worth US$ 620 million by the end of 2027: FMI

According to the report, the global market will be worth more than US$ 420 million in 2017, rising to more than US$ 620 million by the end of 2027. 
During the forecast period, the global lamella clarifier market is expected to grow at a CAGR of 4.1%. According to the report, there is a strong emphasis on research and development activities to introduce a new range of lamella clarifiers while maintaining product quality and efficiency.

A lamella clarifier is a type of settler used to separate liquids from solids. In initial water treatment, it is typically used instead of traditional settling tanks. The working principle of a Lamella Clarifier is gravity settling, which results in a series of slanted plates with a larger projected surface area and a smaller footprint than other clarifiers (circular and rectangular). Paper & pulp, food and beverage, and other sectors employ Lamella Clarifiers.

Future Market Insights’ new report gives a clear overview of the global lamella clarifier market. The report is titled ‘Lamella Clarifier Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’. The report depicts the overall performance of the market and an individual analysis of the various segments.

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Global Lamella Clarifier Market: Dynamics

A lot of factors are responsible for influencing the growth of the global lamella clarifier market. One of the major factors contributing to the growth of the market is rapid industrialization and urbanization across the globe which have helped the market improve in a lot of ways including technologically. Also the increase in the number of industries all over the world has helped fuel the application of lamella clarifiers, in turn helping the global lamella clarifier market to witness steady growth.

However the market is expected to face certain restraints as the increase in the number of industries is likely to magnify the competition levels in the global market and therefore, may narrow the profit margin of the companies. There is also an increase in demand for used clarifiers, which has limited the demand for new lamella clarifiers and this can restrict the revenue growth of the global lamella clarifier market.

Global Lamella Clarifier Market: Segmental Highlights

To give the research a holistic view, the global lamella clarifier market is segmented on the basis of application and region. On the basis of application, the segments include the industrial segment and municipal segment. On the basis of region, North America, Latin America, APEJ, Western Europe, Eastern Europe, MEA, and Japan are studied in this report.

Here are some key highlights from the analysis of these segments:

Among the application segments, industrial segment is expected to lead the market with a market value of over US$ 260 Mn in 2017. This includes the chemical and fertilizer segment as the maximum contributing sub-segment with a market share of over US$ 52 Mn in 2017.

Among the regions, Asia Pacific excluding Japan is expected to hold the maximum value in the global market of over US$ 130 Mn in 2017, growing at a CAGR of 3.9% during the forecast period. However in terms of CAGR, North America dominates the global market with a CAGR of 4.8% during the forecast period.

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Global Lamella Clarifier Market: Competitive Dynamics

The research report by FMI, also consists of a section on the competitive scenario of the global market, which highlights the complete profiles of the leading companies in the market. Some of the top companies mentioned in the report are Metso Corporation, Westech Engineering Inc., Ion Exchange (India) Ltd, ENEXIO Germany GmbH, Aes Arabia Ltd, Parkson Corporation, Nordic Water Products AB, Jorsun etc.

Segmentation of the Global Lamella Clarifier Market

Market segmentation plays a very important role in market research by bifurcating a huge market into smaller segments on the basis of different parameters. These segments are analysed individually too, and the report gives a clear idea on the most lucrative segments of the market that will be highly profitable in the upcoming future.

By Application:

  •  Industrial
    • Paper and Pulp Industry
    • Food and Beverage Industry
    • Oil and Gas Industry
    • Chemical and Fertilizer
    • Mining and Metals
    • Power Industry
  • Municipal

By Region:

  • North America
  • Latin America
  • APEJ
  • Western Europe
  • Easter Europe
  • MEA
  • Japan

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The value of the global micro robots market is US$ 134.86 billion. Future Market Insights, Inc.

The micro robots market is estimated a CAGR of 17.45% during the forecast period, up from US$ 27 Billion in 2022 to reach the valuation of US$ 134.86 Billion by 2032.

This study is one of the most comprehensive documentation that captures all the facets of the evolving Micro Robots market.

A typical micro robot is a reprogrammable and autonomous robots toys that can observe, move, and learn in a given environment to perform a given task. The micro robots have dimensions (size) less than 1 mm and larger than 1 μm.

Moreover, micro robots are made of sub-millimeter scale components, such as micro sensors, micro actuators, and micro mechanisms, and are assembled by micro fabrication methods, which are different from conventional macro-scale machining techniques.

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With the several functional advantages such as sensing, manipulation, transport and delivery, and local heating, the micro robots are gaining traction in the market. Generally two type of micro robots including synthetic and bio-hybrid are used by various end use industries including automotive, manufacturing and healthcare among others.

Micro robots are capable of performing many critical medical tasks, such as minimally invasive diagnosis and treatment inside the human body. Also, micro robots have important applications in biological studies or bioengineering applications inside microfluidic devices, desktop micro manufacturing, and mobile sensor networks for environmental and health monitoring.

These factors are estimated to boost the demand for micro robots in the healthcare industry around the globe over the forecast period.

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Micro Robots Market: Dynamics

Increasing demand for micro robots in various micro applications such as micro assembly, micro fabrication and micro positioning is estimated to fuel the growth of global micro robots market over the assessment period. In manufacturing and fabrication industry micro robots are basically used for fabricating structures on a micro scale.

Micro robots are flexible, compact, and easily configurable and more importantly, these micro robots adapt themselves as per environmental conditions. These factors will propel the demand for micro robots in the global market. Micro robots are expected to create significant opportunities in the medical and healthcare industry, with the ability to perform perilous tasks, such as diagnosis, biopsy, and surgery.

Micro robots could be used to develop new transformative approaches for the treatment of chronic diseases such as liver disease, cancer, respiratory diseases, kidney disease, and cardiovascular disease. Owing to the increasing demand for micro robots in the medical & healthcare industry, various manufacturers are developing autonomous self-learning micro robots which in turn will accelerate the demand and affirmatively create new growth opportunities in the market.

The micro robots manufacturers are engaged in research & development activities for improving the structure and design of the micro robots systems. For biological applications, the micro robots must be small, reliable, and biocompatible. If the micro robots are being injected inside the human tissue, it should not cause any damage or infection to it. Therefore, designing such critical devices is a major challenge for micro robots manufacturers.

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Micro Robots: Regional Market Outlook

North America is expected to hold the dominant share in the global micro robots market due to the high adoption rate of autonomous technologies across the region. Apart from this, North America also has numerous manufacturers that are working towards the development of new and innovative micro robot.

Asia Pacific is expected to show the significant growth opportunities in the micro robots market due to the high demand from the pharmaceutical & healthcare industry across the region. East Asia regions is stipulated to be the attractive region for the micro robots market owing to the high adoption rate of micro robots in several applications in military and healthcare.

China is expected to show lucrative growth opportunities in the market due to heavy investments in industrial automation. Regions including Middle East Africa and Latin America are predicted to have healthy growth in the global micro robots market.

The micro robots research report presents a comprehensive assessment of the Micro robots market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The micro robots research report provides analysis and information according to market segments, such as geographies, application, and industry.

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Key Segments

By Mode:

  • Autonomous
  • Semi-Autonomous

By Material Type:

  • Bio-Hybrid
  • Synthetic

By End User:

  • Pharmaceutical Industry
  • Healthcare Industry
  • Automotive Industry
  • Manufacturing Industry
  • Military

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • 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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By The End Of 2026, Market For Environment Testing, Inspection, And Certification is Anticipated To Be Worth Over US$ 23,000 Mn.

Future Market Insights states that the global market environment testing, inspection, and certification is projected to reflect a healthy CAGR over the forecast period, 2017-2026.

The growth of the global environment testing, inspection, and certification market is mainly secured by various macro-economic and micro-economic factors. With the growing need to deliver product observation with the stringent standards and regulations set up by the government, demand for the environmental testing, inspection and certification services continues to rev up in the global market.

Moreover, the surge in consumption of various goods particularly in the developing countries has further contributed to the global market growth of environment testing, inspection, and certification.

Growing need to ensure compliance with the product quality and safety has led to an upsurge in demand for environment inspection, testing, and certification services. In addition, rising instances of counterfeiting and piracy activities are projected to impact the global market growth of environment testing, inspection, and certification positively.

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Leading companies in the global market are focusing on outsourcing services for testing, certification and inspection of the product. With the increasing imposition of the stringent regulations by the government, conducting internal tests continues to remain comparatively costly.

Services for inspection, testing, and certification services continue to witness a surge in demand among third-party retailers for various applications inclusive of consumer goods and manufacturing.

Agriculture Industry to Represent a Leading Segment

Growing need to ensure safety and premium quality of the products has led the manufacturers to opt for testing products globally. On the basis of product type, the testing segment is expected to represent the highest revenue share, accounting for a value of over US$ 1,000 Mn by the end of 2017. The certification product type segment is expected to witness a robust CAGR in the global market throughout the forecast period.

Based on end user, the agriculture industry segment is expected to generate significant revenues, recording a value of over US$ 1,000 Mn by the end of 2026. In contrary to this, the industrial product manufacturer product type segment is expected to register the highest CAGR during the forecast period.

By sample type, the water testing segment is expected to witness robust revenue growth, representing a value of over US$ 600 Mn by the end of 2017. However, the waste testing sample type segment is expected to witness a healthy CAGR through 2026.

Based on the test type, the toxins segment is expected to generate significant revenues, recording a value of over US$ 800 Mn by the end of 2026. On the other hand, the physical properties test type segment is expected to register an impressive CAGR during the forecast period.

Sales through Testing Products Remain High

By test type, the toxins segment is projected to generate significant revenues, representing for more than US$ 800 Mn by 2026-end. In contrary to this, the physical properties test type segment is projected to reflect a healthy CAGR in the global market through 2026. During the forecast period, the water testing sample type segment is projected to represent the highest revenue growth, recording more than US$ 600 Mn by 2017-end. In contrast, the waste testing sample type segment is projected to reflect a strong CAGR throughout the forecast period.

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The growing need for premium quality and safe products has led to an upsurge in demand for testing the products among organizations and manufacturers globally. Based on product type, the testing segment is projected to witness significant revenue growth, representing more than US$ 1,000 Mn by 2017-end. In contrast, the certification product type segment is projected to register a robust CAGR throughout 2026. On the basis of end-user, the agriculture industry segment is projected to represent the highest revenue growth, accounting for more than US$ 1,000 Mn by 2026-end. However, the industrial product manufacturer product type segment is projected to reflect a healthy CAGR over the forecast period.

Market Players

Major players operating in the global market of environment testing, inspection, and certification market are

Intertek Group, SGS SA, Yara International ASA, Bureau Veritas, Assure Quality, ALS Ltd, SCS Global, Exova Group, APAL Agriculture, RJ Hills Laboratories, Eurofins Scientific, TUV Nord AG, Danaher, GE Healthcare and Life sciences, SAI Global Limited, Agrolab Group, HRL Holdings Ltd, Cawood Scientific, SESL Australia and EnviroLab.

About Future Market Insights (FMI)

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

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Market For Sulphur Recovery Technology Is Expected To Surpass US$ 2.7 Billion By 2031

Newly released data by Future Market Insights (FMI), projects that the sulphur recovery technology market will reach a valuation of US$ 1.2 Bn by 2021 and is expected to grow at a compound annual growth rate (CAGR) of 11% from 2021 – to 2031. The increasing production of shale gas will accelerate the growth with top market players holding 2/5th of sulphur recovery technology market share in 2021.

Growth predictions remain positive for Europe due to increasing government expenditure on the oil and gas industry and the presence of leading market players in the U.K. and Germany. Spurred by this, the Europe sulphur recovery technology market is projected to grow at about 12% CAGR during the forecast period.

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Increasing emphasis on regulations for reducing levels of sulphur in products and lower sulphur emissions has boosted demand for the deployment of sulphur recovery technology units.

The growing numbers of refinery projects across the world are anticipated to create vast opportunities for sulphur recovery technology manufacturers, as the installation of their units in these plants will lead to significant profits.

Furthermore, increasing expansion projects across the world are expected to be a major factor contributing to sales of global sulphur recovery technology.

According to the recent research report published by Future Market Insights, the sulphur recovery technology market is expected to exhibit an impressive CAGR of 11% during the forecast period of 2021-2031.

Key Takeaways of Sulphur Recovery Technology Market Study

Increasing exploration and production activities, especially those associated with shale gas, led to high demand for sulphur recovery technology units from refineries. Production of recovered sulphur from gas refining activities is increasing significantly, attributable to the rise of major gas refining activities across the globe.

In terms of plant capacity, there is a rising demand for sulphur recovery technology units with a capacity of less than 100 t/d, owing to lower emission footprint, ease of upgradation, and relative cost-effectiveness as compared to other units.

Stringent environmental regulations regarding the emission of hydrogen sulfide mainly released during oil & gas extraction, treatment, transportation, and refining are boosting the demand for the development of cost-effective desulphurization technologies. For instance, environmental legislation of the EU (European Union) sets the standards for oil & gas refineries industries in Europe.

The oil and gas production in prevailing refineries is expected to have a greater impact on the growth and development of the global sulphur recovery technology market in comparison to new refinery bases.

In terms of value and volume, Europe and the MEA are identified as dominant regions throughout the forecast period. The increasing number of refineries projects in countries in Europe and MEA such as Saudi Arabia, Kazakhstan, and Russia, are expected to supplement the demand for sulphur recovery technology. These countries also have oil reserves, which in turn support the demand for sulphur recovery technology.

“APAC is one of the majorly profitable markets for players offering sulphur recovery technology, attributable to the establishment of new refineries to cater to the growing demand for new gas refining units in the region,” says an FMI analyst.

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Sulphur Recovery Technology Market: Competitive Landscape

The global sulphur recovery technology market has remained competitive with the presence of giant players having expertise in advanced manufacturing technologies, and product offerings for diverse applications.

However, leading players account for nearly 2/5th of the global sulphur recovery technology market share. These players include Royal Dutch Shell plc, Exxon Mobil Corporation, Bechtel Corporation, Fluor Corporation, and Linde AG & Technip FMC plc.

Such key players are adopting strategies such as expansion, acquisitions, and product launches, and are creating challenges for small-scale players.

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

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Fish Sauce Market is Attributed to Rising Preference for Ethnic and Spicy Flavors Among Consumers

The global Fish Sauce Market is expected to increase at a CAGR of 5.8% from now until 2032, when its value is projected to be about US$ 30.6 Bn.

Global fish production reached 179 million metric tons in 2018, according to the United Nations, with 23 million metric tons going to human consumption. This is due to several factors, the most significant of which is increasing awareness of the health benefits of seafood.

Seafood is low in saturated fats, high in protein and nutrients such omega-3 fatty acids, vitamin A, and vitamin B. Regular seafood consumption has been shown to improve cardiovascular health and reduce the risk of heart attacks and strokes. Furthermore, consumers are willing to try new foods, which is boosting the demand for various flavored fish sauces, such as hot sauce and soy sauce.

On the production front, consistent nominal fish prices have resulted in increasing production of fish and fish sauce products. According to a joint OECD-FAO report, nominal fish prices are predicted to rise at a rate of 1.5-2.1 % per year over the next decade. This means that major manufacturers of fish sauce will have lower production costs, allowing them to produce on a larger scale.

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“Increasing inclination towards ethnic and exotic food, along with wide availability of a hufe variety of sauces and condiments at online retail channels is expected to broaden the scope of fish sauce applications over the assessment period,” says an FMI analyst.

Key Takeaways:

  • Based on product type, demand in the plain fish sauce segment will command more than 50% of the total fish sauce sales.
  • In terms of technique, sales in the traditional method segment will account for a lion’s share in the global fish sauce market.
  • By sales channel, the offline segment will remain highly lucrative through 2032.

China will emerge as an attractive market for fish sauce. Demand in the East Asia fish sauce market is expected grow at a 5.0%.

  • North America is expected to emerge as a prominent market for fish sauce, dominated by the U.S. over the forecast period.

Competitive Landscape

Leading fish sauce makers are attempting to expand their footprint across attractive pockets by introducing new products, developing strategic partnerships with existing players, and purchasing small-scale producers. The following are some noteworthy market developments:

  • Masan Consumer Holdings, situated in Vietnam, is a well-known fish sauce producer. Chin-Su Fish Sauce, Chin-Su Nam Ngu, and Nam Ngu Fish Sauce are among the company’s offerings. While the first two products are aimed at premium and high-end customers, the latter is designed exclusively for mid-tier customers and those looking for good value.
  • Teo Tak Seng Fish Factory Co. Ltd., likewisw, sells its signature silver pomfret sauce, which is produced with fresh anchovies and salt. The sauce’s strong taste makes it great not just for stir-frying, but also as a delightful dip for a range of food.

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Fish Sauce Market By Category

By Flavor:

  • Plain Fish Sauce
  • Spiced Fish Sauce

By Technology:

  • Traditional Method
  • Industrial Method

By Sales Channel:

  • Offline Sales Channel
    • Supermarkets/Hypermarkets
    • Departmental Stores
    • Convenience Store
    • Other Sales Channel
  • Online Sales Channel
    • Company Website
    • E-commerce Platform

By Region:

  • North America
  • Latin America
  • Europe
  • Middle east and Africa
  • East Asia
  • South Asia
  • Oceania

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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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Book Publishers Market is Projected to Reach US$ 136.1 Bn by 2032 at a CAGR of 2.6% in 2032

The book publishers market is anticipated to grow at a CAGR of around 3.9% through 2032, surpassing a valuation of US$ 89,983.6 Mn in 2021.

The demand for diverse instructional, fictional, non-fictional, and books from various other genres has increased as the number of readers throughout the world has increased. This is one of the main causes of increased book sales among a wider demographic. The growth of the worldwide book publishers market will accelerate as a result of these causes.

increasing numbers of individuals are reading for leisure and relaxation, which is good for their health and wellbeing. Reading also helps people form relationships and social ties, which is thought to boost one’s chances of moving up the social ladder. These characteristics are encouraging reading, which is opening up opportunities for book publishers to increase sales.

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Key Takeaways from the Book Publishers Market Study

  • North America dominated the market and held the largest revenue share of in 2021 on account of the presence of a large number of independent publishers and publishing companies.
  • In terms of books type, the friction books are estimated to account for the highest value share in the book publishers market.
  • East Asia and South Asia are estimated to dominate the book publishers market.

“With emergence of social and technological changes, the rivalry between firms in the global book publishers market is becoming more intense. A few players in the market are creating a seed fund instead of buying author services, while others are partnering with the newly acquired author services company or merging with a competitor,” says an FMI analyst.

Impact of COVID-19 on the Market

The books market has shifted as a result of the new coronavirus pandemic. People’s ability to leave their homes and get closer to bookstores during the first lockdown in 2020 will have an impact on how many hard copies of books are sold.

However, as the greatest way for readers to adopt new trends, the demand for e-books and audiobooks is rising. Additionally, systems like online education and immersive learning promote market expansion.

It is presumable that the introduction of the newest software, hardware, and educational resources will offer a platform for readers to have a real-world experience. As people had free time after finishing their work during the pandemic, many people formed the habit of reading books and novels.

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Who is winning?

Leading manufacturers of books are focused on aggressive promotional strategies and advertisements that have driven sales growth of books globally. Major players present in the book publishers market are IDW Publishing, Morris Publishing, MARVEL, Scholastic Inc., Penguin Random House, Houghton Mifflin Harcourt., Pearson, MacMillan Publishers, Simon & Schuster, Inc., HarperCollins Publishers, Bertelsmann SE & Co. KGaA, Hachette Book Group, Planeta, and China South Publishing & Media Group Co., Ltd. among others.

Global Book Publishers Market by Category

By Books Type, Global Book Publishers Market is segmented as:

  • Cookbooks
  • History
  • Science Friction & Fantasy
  • Religion & Inspiration
  • Fiction
  • Mystery
  • Romance
  • Others (Horror, Comic, Biographies etc.)

By Region, Global Book Publishers Market is segmented as:

  • Supermarket/Hypermarket
  • Retail Shops
  • Specialty Stores
  • Online Retailers
  • Other Sales Channel

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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.

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Scented Candles Market to Grow at a 4.1% CAGR in 2032

The global scented candles market is expected to surpass a valuation of US$ 3.6 Bn in 2022, with sale growing at a 4.1% CAGR through 2032.

Manufacturers are introducing limited edition scents and seasonal scents to boost sales. For instance, DIPTYQUE is selling a set of 5 scented candles that are part of a limited edition. Additionally, gift-giving options are being marketed for these candles.

Personalization is also taking centre stage in the market due to changing consumer preferences. In response, businesses offer customers the option to personalise and customise their candles by letting them select the scents and include messages and notes. Such changes are predicted to open up opportunities for market expansion.

Gamers now provide small limited-edition candles in addition to standard-sized candles, which are well-liked as gift choices. Some of the fragrances being promoted include berries, roses, pine trees, jasmine, musk, fig trees, wood fire, and mimosa.

Besides scents, companies are focusing on enhancing their packaging designs as the visual appeal of the product plays a major role in shaping consumer preferences. Leather bag inspired box, print box packaging, and eco-friendly sustainable packaging are some packaging options offered by the manufacturers.

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“Scented candles are being promoted as décor accents for homes as they provide ambient light and a luxurious visuals. Many of the scented candles are also being promoted as anxiety and stress reducer fragrances. Such developments are expected to augment the growth of the market through 2032,” says an FMI analyst.

Key Takeaways:

  • In terms of product type, container-based candles are expected to dominate the market.
  • Based on the shape, sales of round scented candles will grow at a 3.4% CAGR.
  • Demand for multi wick candles will increase at a 5.2% CAGR through 2032.
  • Sales through online channels are projected to grow at a healthy 6.9% CAGR over the assessment period.
  • The U.S. will continue dominating the North America scented candles market, driven by high demand for limited edition candles.
  • Sales in the U.K. scented candles market will increase at a 3% CAGR over the forecast period.
  • India will emerge as a lucrative market, with sales projected to increase at a 2.9% CAGR over the assessment period.

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Competition Landscape

Leading players operating in the global scented candles market are investing in promotional strategies, advertisements, and new product launches with limited edition scents to gain a competitive edge in the market.

Key players operating in the market profiled by FMI include Newell Brands, MVP Group International, Estee Lauder Companies, NEST New York, Thymes, LLC.,L Brands, Portmeiron Group Plc., The Yankee Candle Co. Inc., The White Barn Candle Co., Village Candles, Bridgewater Candles., etc.

Scented Candles Market By Category

Product Type:

  • Container Based Scented Candles
  • Pillar Scented Candles
  • Others

Shape:

  • Round
  • Flower
  • Heart
  • Oval
  • Others

No. of Wicks:

  • Single Wick
  • Multi Wicks

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

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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.

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Wine Market is Expected to Increase at over 5.1% CAGR, Surpassing US$ 846.3 Bn between 2022 and 2032

The global  Wine Market is expected to increase at over 5.1% CAGR, surpassing US$ 846.3 Bn between 2022 and 2032. Growth in the market is attributable to increasing consumption of red wine due to its varied health benefits.

The World Health Organization (WHO) reports that cardiovascular disease is the leading cause of death worldwide (CVD). The WHO claims that red wine has many health advantages, including reduced blood sugar levels and weight loss. Consequently, wine is marketed as a healthy beverage.

Throughout the anticipated term, sales of organic wine are anticipated to continue strong. Growing interest in organic products as a result of rising health consciousness is also helping the market expand. Therefore, it is anticipated that the demand for organic wine from restaurants and retail would grow rapidly over the forecast period.

According to Future Market Insights, the consumption of organic wine is fast rising, particularly in Germany and France. Additionally, the development of sustainable winemaking techniques has boosted sales.

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Key Takeaways from the Wine Market Study

  • The U.S. held more than 67.6% of market share in North America in 2021 owing to the upsurge in the number of bars and restaurants in recent years.
  • Italy wine market is expected to exhibit growth at a CAGR of 4.3% for due to the easy availability of grapes for wine production.
  • In terms of type, the sparkling wine segment will dominate the market, registering growth at 8.5% CAGR between 2022 and 2032.
  • In terms of price range, US$ 10- US$ 15 held over 39.1% of market share in the global wine market

“Improving lifestyle, increasing penetration of online sales channel and the internet, and growing consumption of red wine for recreational purposes are some of the factors driving the sales of wine across the globe,” says an FMI analyst.

Who is winning?

Leading manufacturers of Wine are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of wine globally. Major players present in the wine market are The Wine Group, John Distilleries, International Beverage Holdings, Halewood Wines International, Sula Vineyards Pvt. Ltd., Asahi Group Holdings, Ltd., Beijing Yanjing Beer Group Corporation, Castel Frères, Accolade Wines, Constellation Brands, Treasury Wine Estates (TWE), Pernod Ricard, and E. & J. Gallo Winery among others.

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Global Wine Market By Category

By Type:

  • Sparkling Wine
  • Dessert Wine
  • Red Wine
  • White Wine

By Price Range:

  • Below US$ 5
  • US$ 5-10
  • US$ 10-15
  • Above US$ 15

By Source:

  • Organic Wine
  • Conventional Wine

By Region:

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

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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.

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Herbal Beauty Products Market is Rising Due to Growing Preference for Affordable and Organic Beauty Products Among Men and Women

The global herbal beauty products market  will grow at approximately 6.1% CAGR between 2021 and 2031. The target market nearly holds ~5.9% share in the overall beauty products industry

Because more people are becoming aware of the advantages of using herbal substances in beauty products, this preference is growing. Because synthetic cosmetics and skincare products include hazardous substances and chemicals that are known to have detrimental effects and cause a variety of skin disorders, people are turning more and more to herbal beauty.

Furthermore, thanks to commercials and other promotional activities on social media platforms like Instagram, Facebook, and Youtube, people are now more aware of the advantages of using herbal beauty products. These advertisements frequently highlight how using herbal beauty products can improve the tone, texture, and look of the skin.

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Key Takeaways from the Herbal Beauty Products Market Study

  • Based on consumer orientation, the global herbal beauty products market is segmented into adults and kids. The adult segment is estimated to account for the largest share by 2021 end.
  • China will emerge as a highly lucrative market for herbal beauty products in East Asia.
  • The U.S. will record the highest sales of herbal beauty products in North America.
  • Backed by presence of a well-established beauty industry, the sales of herbal beauty products will pick up pace in the I.K.
  • Supermarkets are expected to remain the preferred distribution channel for herbal beauty products. However, the sales via online platforms are expected to catch up soon.

 “Players currently operating in the market are focusing on innovations to expand their portolfio. Some are even targeting specific skin problems to carve a niche amidst soaring competition. Meanwhile, leading brands are expanding their availability across e-commerce platforms to gain competitive edge,” said a FMI analyst.

Impact of COVID-19 Outbreak on the Herbal Beauty Products Market

The unique coronavirus pandemic outbreak has altered the market for herbal beauty products and affected consumer purchasing behaviour. While supply chain hiccups slowed sales, research show that people spent more time on personal and skincare while they stayed indoors during the prolonged lockdown.

On social media sites like YouTube and Instagram, an increasing number of users spent their time looking for home treatments to take care of their skin. Consistently, the emphasis on beauty climbed. As a result of the restrictions being relaxed, the market for herbal beauty products saw an increase in sales.

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Who is Winning?

A few key players in the herbal beauty products market are Surya Brasil Organic Beauty Products, Weleda AG, INIKA, Lotus Herbals Limited, Bio Veda Action Research Co. (Biotique), Guangzhou, Liwei Cosmetics Co Ltd., Dr. Hauschka, VLCC Healthcare Ltd., Hemas Holdings PLC, Herb labo Co. Ltd, The Himalaya Drug Company, Shahnaz Ayurveda Pvt. Ltd, GROWN ALCHEMIST, Shenzhen Panni E-Business Co. Ltd., and Arbonne International LLC among others.

Global Herbal Beauty Products Market by Category

By Product Type:

  • Skin Care
    • Face Cleanser
    • Face Wash
    • Sun Protection
    • Night Creams & Gels
    • Others (Masks, Cream)
  • Hair Care
  • Hair Oils
  • Shampoos
  • Hair Conditioners
  • Others (Hair Serum, Mask, Color)
  • Bath & Body Care
    • Body Scrub
    • Body Lotion
    • Soap
    • Others
  • Makeup
  • Fragrance

By Consumer Orientation:

  • Adults
  • Kids

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

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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 Us:                    

Future Market Insights,
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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