Market Research Blog – Page 11486 – New Product Development

Underwater Hotels Market is Projected to Reach US$ 11.6 billion by 2032 | FMI

The global underwater hotels market is projected to reach US$ 11.6 billion by 2032, up from US$ 3.5 Bn in 2022, at a significant CAGR of 13.60% From 2022-2032The growth of the Underwater Hotels market was mainly driven by the increasing R&D spending across the world.

The demand for underwater hotels is surging as besides the captivating ambience they offer tourists a broad range of intense water sports activities which includes non-motorized and motorized.

Scope of the Report of Underwater Hotels

Water tourism development around the world is focusing on underwater hotels. The hotel’s main construction is a plexiglass dome reinforced with concrete and steel to withstand the underwater pressures. Companies that own underwater hotels are embarking on ambitious projects. For hotels all throughout the world, they’re becoming a new passion.

Underwater hotels are becoming increasingly popular in Dubai and Sweden. The cost of staying in an underwater hotel is high, but it is well worth it. Underwater hotels offer tourists a variety of intense water sports activities, both motorized and non-motorized, in addition to the captivating ambiance. Tourists can drive a submarine through the lagoons themselves.

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Underwater hotels offer water tourism activities such as canoeing, diving, fishing, and snorkelling.

Market Leaders and their expansionary development strategies

In March 2022 – AD Ports Group continues its diversification with the acquisition of Divetech Marine Engineering Services, a UAE-based topside-subsea solutions provider that offers a range of services including installation, inspection, repair, and maintenance for ports and other underwater organizations.

Table of Content

Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Investment Feasibility Matrix

3.5. PESTLE and Porter’s Analysis

3.6. Regulatory Landscape

3.6.1. By Key Regions

3.6.2. By Key Countries

3.7. Regional Parent Market Outlook

TOC Continued….

Some of the key players profiled in the study are:

The Apeiron Island Hotel (United Arab Emirates), Water Discus Hotel (United Arab Emirates), The Lifeboat Hotel (United Kingdom), The Shimao Wonderland (China), Jules’Undersea Lodge (United States), Huvafen Fushi Maldives (South Asia), Utter Inn (Sweden), The Manta Resort (East Africa), Hydropolis (Poland), Hilton (United States) and The Poseidon Underwater Resort (Oceania)

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Key Segments in the Underwater Hotels Market

By Type:

Luxury Type Underwater Hotel
General Type Underwater Hotel

By Application:

Business class
Economic class

By Booking Type:

Online booking
Offline booking

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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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UK Outbound Travel Market is Projected to Reach US$ 175.2 Billion by 2032 | FMI

The UK outbound travel market is expected to reach US$ 175.2 Billion in 2032, to surge at CAGR of 8.60% during forecast period 2022-2032

Despite the slowdown in economic growth, European outbound travel has grown by 3%. Globally, United Kingdom is one of the top five spenders on outbound tourism. Outbound travel is increasing steadily in the United Kingdom along with domestic and inbound tourism. According to the Office for National Statistics of UK, residents of the United Kingdom made 70.4 million outbound trips in 2016, which is a 7% increase compared to 2015.

Trips taken as holiday remained the main purpose of the trip for UK outbound tourists in 2016 followed by visiting friends and relatives and business trips. According to the World Travel and Tourism Council, the outbound tourism expenditure of UK travellers crossed US$ 70 billion and is projected to reach US$ 102 billion by the end of 2024.

The outbound travel sector in the United Kingdom provides employment on par with other well-known and recognised industries, such as food and electrical equipment manufacturing and machinery and equipment industries.

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UK Outbound Travel: Market Dynamics and Restraints

Relatively high disposable income per capita is expected to drive the United Kingdom’s outbound tourism sector. Baby Boomers, with more free time and money for travel, are the most important segment of the UK outbound travel sector. The baby boomer generation has topped the market share of the UK outbound travel sector mainly attributed to the recent changes in pension annuities. According to the International Passenger Survey, the residents of UK prefer July and August for travel abroad mainly due to the long school holidays.

Other popular months are April, May, June, October and November. January to March is a popular time for single-week ski trips and winter sun breaks to cheap destinations, usually as an extra holiday. Along with the international airports, the United Kingdom has a large number of regional airports offering international services to important destinations which include Manchester, Nottingham, East Midlands, Liverpool and Leeds.

Medical tourism across the globe also faced difficulties in the last couple of years. Outbound medical tourism from Britain has recovered slowly after the recession. Factors include poor National Health Service delivery, problems with National Health Service dentistry, and objections and delays relating to National Health Service. Reforms have helped boost the outbound tourism sector in the UK.

UK Outbound Travel: Regional Analysis

Europe is most popular region for UK tourists with over 75% of total outbound trips. Spain, France, Italy and Germany are the most visited destinations by UK residents and the United States was the most visited non-European destination with around 6% of total visits. China, India, Iceland and Cuba areother popular destinations for UK travellers among other non-European destinations.

Factors such as cultural and artistic heritage, high reputation related to the charming culture and lifestyle, great climate, excellent and frequent flight connections have influenced UK tourists to travel to Italy. In addition to the trips within Europe, long haul travel is also increasingly becoming popular among UK travellers.

The Middle East was the least visited region for UK holidaymakers and India is one of the top destinations for UK travellers in the Asia Pacific region.

This comprehensive report equips readers with lucid information and analysis on the sector.

Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

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The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

Key Segments in the UK Outbound Travel Market

By Type:

Day Trips & Local Gateways
Museums
Pilgrimages
Religious and Heritage Tours
Others

By Traveler Type:

Independent Traveller
Tour Group
Package Traveller

By Booking Channel:

Online Booking
Offline Booking

By Age Group:

0 to 20 Years
21 to 40 Years
41 to 60 Years
60 Above

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Event Tourism Market is expected to reach US$ 2.1 Trillion in 2032 | FMI

The global event tourism market is expected to reach US$ 2.1 Trillion in 2032, to surge at CAGR of 4% during forecast period 2022-2032

Event tourism is the systematic planning, marketing and holding of events at tourist destinations. It is done in order to increase the number of domestic as well as foreign tourists. The number and type of stakeholders involved in event tourism differ from event to event. Various media such as electronic, print and especially social media play a major role in the promotion of event tourism. The awareness about the occurrence of an event, its schedules, entry passes, prices etc. is spread through digital media.

Attendees, employees, participants, spectators, sponsors, suppliers and volunteers are some of the key stakeholders of event tourism. The government, host communities, tourism organisations, tour operators and travel agencies play a significant role in event tourism.

An enormous amount of revenue is generated by the selling of souvenirs during events. Event tourism catalyses alcohol and culinary tourism as visitors taste cuisines at the destination during the event. Moreover, this leads to the growth of the tourism industry as tourists end up exploring other attractions of that destination. Cultural tourism is also promoted with the experience of new cultural diversity during the event.

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DIFFERENT TYPES OF EVENT TOURISM

Event tourism can be segregated into the following categories:

Arts & entertainment: Award ceremonies, concerts
Business & trade: Conventions and meetings, consumer and trade shows, fairs and markets
Cultural celebrations: Commemorations, carnivals, festivals, religious events
Educational and scientific: Clinics, conferences, seminars
Political and state: Political events, royal occasions, summits, VIP visits
Private: Parties, socials, weddings
Recreational: Games or sports for fun
Sports competitions: Amateur/professional, participant/spectator

All the aforesaid events can also be either “Hallmark events or Mega events” or both. A mega event is one that has more than 500 attendees while a hallmark event is one that is organised with the motive that the host community gets prominence in the tourism sector.

EVENT TOURISM: FAMOUS EVENTS AND ORGANISATIONS

Datenwrek GmbH’s “Oktoberfest” in Germany is the world’s largest beer festival and had 5.6 million visitors in 2016. Rio Carnival Service’s “Rio Carnival” in Brazil is the world’s largest carnival with two million people enjoying popular Brazilian origin music Samba on the streets every day.

The Wimbledon Championships held in England attract tourists worldwide and is being held in London since 1877. “La Tomatina” festival is the world’s biggest food fight held in the town Bunol of Spain and receives an average influx of 50,000 tourists every year.

“The New York Fashion Week” held in the month of February in NYC is one of the major fashion events of the world. The International Live Events Association (ILEA) provides its stakeholders and members collaborative networking, credibility, educational development, inspiration, outward awareness and professional development to ensure a growing global events profession.

The International Association of Events & Exhibition (IAEE) is the leading association for the global exhibition industry which offers several meetings and educational programs throughout the year at an international level.

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EVENT TOURISM: CHALLENGES & CONCERNS

The increasing number of terrorist attacks are a constant threat to event tourism. The loss of lives in shootings and attacks across the world has put the security of the visitors at a big risk.

Event professionals are always trying to adopt different methods to manage the risk of terrorist attacks. Lack of coordination between the government, hotel organisations, restaurants and tour operators are gaps in any nation’s event tourism strategy.

Countries such as New Zealand are also facing the problem of lack of planning in this industry. Also, people are still unaware of the various events taking place in different parts of the world because of inadequate advertising campaigns by the event organisers. Moreover, lack of infrastructure in some countries is also restraining the growth of event tourism.

EVENT TOURISM: FUTURE OUTLOOK

The emerging middle class in developing economies and the increase in the number of outbound travellers from countries such as China will foster the growth of event tourism across the globe.

The increase in available funding options such as angel investors, advance ticket sales, bank loans, crowd funding enterprises, sponsorship programs and the sale of exhibition space has expanded the growth of event tourism. The globalisation of events coupled with consumer awareness is driving the event tourism industry. Event tourism is one of the major contributors to the growth of global GDP.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

Key Segments In The Event Tourism Market

By Type:

Exhibitions and Conferences
Festivals
Corporate Events
Music Concert
Sports
Others

By Channel:

Virtual channel
Physical channel

By Revenue Source:

On-line registration
Off-line registration
Sponsorship
Others

By Age Group:

Below 18 Years
18-50 Years
Above 50 Years

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Packaging Films Market is projected to Reach US$ 209.7 Billion by 2032, at a CAGR of 3.9%

The global packaging films market is estimated at US$ 143.7 billion in 2022 and is projected to reach US$ 209.7 billion by 2032, at a CAGR of 3.9% from 2022 to 2032 . The polyethylene (PE) film segment accounts for almost 36% share of the global packaging films market. The food industry is expected to remain the top end user of the packaging films market through 2032.

Key Takeaways from Packaging Films Market

The polyethylene (PE) films represented 35% of packaging films market in 2021.
Demand for packaging films in the food industry will grow at a CAGR of 4.2% between 2021 and 2031.
India packaging films market is projected to register a CAGR of 5.6% during the forecast period followed by China with a CAGR of 4.2%.
China will continue to remain the largest market with a market. It held a share of 22% in 2021.

“Innovations are expected to pick up pace in the packaging films market. With stringent bans on single-use plastic use, the focus on recyclable materials will grow higher. Likewise, packaging film producers are expected to focus on more sustainable materials to stay ahead of the curve,” said a lead FMI analyst.

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Packaging Films Market Landscape

Berry Global, Mondi Group, Ampac Holdings, LLC., Huhtamaki Oyj., Smurfit Kappa, WestRock Company are some of the Tier 1 players of global packaging films market.

Key manufacturers operating in the packaging films market are focusing on producing lighter-weight, durable and sustainable products. Several mergers & acquisitions and innovations are taking place in the industry as there is synergy in forward as well as backward integration. · Recently in March 2022, Clearlake Capital has agreed to acquire Intertape Polymer Group. Intertape is one of the leading manufacturers of packaging films and many other products. Through this acquisition the company is planning to extend production capabilities of tapes and shrink films and increase industrial and retail customers.

In March 2022, BASF and a Germany located packaging films manufacturer DuoPlast launched world’s first stretch PE blown film for potential use in the explosive areas.

Global packaging films market by material type (polyethylene, polypropylene, polyethylene terephthalate, polyvinyl chloride, polyamide, ethyl vinyl alcohol, polyvinyldiene chloride, bioplastics, and others), by product type (pouches, bags & sacks, tubes, liners, sachets & stick packs, tapes & labels, and wraps/rolls), by end-use (food, beverages, homecare products, personal care products, healthcare products, electronics & electrical, and other industrial goods) across seven regions.

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Competitive Landscape

Best packaging experience and user convenience are the prime concerns of the key players. Therefore, many of the key players are adopting strategy of product innovation and make their products more eye-catchy and acceptable among consumers. Not only this, manufacturers are also planning to expand production capabilities in the untapped markets to cater increasing demand for packaging films.

Key manufacturers operating in the packaging films market are focusing on producing lighter-weight, durable and sustainable products. A lot of innovations are coming up in this domain to make packaging more sustainable and functional.

Some of the key developments in the global packaging films market includes:

In February 2022, Coveris launched next generation stretch films with 30% recycled content to minimize reliance on virgin plastic films for packaging.
In January 2022, B2B Industrial packaging acquired Pioneer packaging worldwide. Through this acquisition, the company is planning for increasing consumer reach specially in the untapped markets.
In September 2021, Amcor, ExxonMobil and Syntegon India together developed recyclable polyethylene laminating film based detergent packaging solution to replace existing PET/PE packaging.
In January 2021, Jindal films acquired Domo Chemicals’ nylon films business. This acquisition will support company’s growth by increasing production capacity of nylon films.

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Packaging Films Market By Category

By Material Type, Packaging Films Market is segmented as:

Polyethylene (PE)
Polypropylene (PP)
Polyethylene Terephthalate (PET)
Polyvinyl Chloride (PVC)
Polyamide (PA)
Ethyl Vinyl Alcohol (EVOH)
Polyvinyldiene Chloride (PVDC)
Bioplastics
Others

By Product Type, Packaging Films Market is segmented as:

Pouches
Bags & Sacks
Tubes
Liners
Sachets & Stick Packs
Tapes & Labels
Wraps/Rolls

By End Use Packaging Films Market is segmented as:

Food
- Meat, Seafood and Poultry
- Ready to Eat Meals
- Dairy Products
- Bakery and Confectionery
- Other Food Products
Beverages
- Alcoholic Beverages
- Non-Alcoholic Beverages
Homecare Products
Personal Care Products
Healthcare Products
Electronics & Electricals
Other Industrial Goods

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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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Multiwall Bags Market is expected to be Driven by an Increase in Modern Retailing, High Consumer Income, and Increase in Packaging Activities, Particularly in Emerging Nations

With the increasing sales of multiwall bags in recent years, the packaging business has seen substantial expansion. As per Future Market Insights (FMI), the multiwall bags market will grow by 4.4% between 2022 and 2032, reaching US$ 23 Bn by the end of the forecast period.

The need for multiwall bags is growing for packaging in fertilizer, textile, and cement industries. Furthermore, consumers are becoming more environmentally conscious, which has boosted the market for multiwall bags. Various layers of kraft paper are used to make multiwall bags.

To prevent contamination, the inner layer of the multiwall bags is specifically coated and laminated. Multiwall paper bags are becoming increasingly popular as a result of the ability to customize the product for promotional purposes.

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Since many organizations do not consider regular plastic for packaging, rise of organized retail such as supermarkets and hyper markets will create prospects for sales of multiwall bags. The consistently expanding need for grain crops is fuelling the demand for fertilizers, especially in emerging nations, which is driving multiwall bags sales.

Key Takeaways from Global Multiwall Bags Market

Multiwall bags market value will surpass US$ 14. 9 Bn in 2022
APAC is projected to continue dominating the global market for multiwall bags.
Food sector to remain primary end user of multiwall bags.
Demand for multiwall bags in the U.S. will grow by 3%.
Multiwall bags sales in India will pick up by 5.9% CAGR in India between 2022 and 2032.

“Eco-friendly paper-based multiwall bags packaging is expected to gain traction across various industries due to consumer preference for biodegradable packaging material and increasing emphasis towards environmental protection,” – said an FMI analyst

Global Multiwall Bags Market Landscape

Sonoco Products Company,
Novolex,
Wellform Packing Group Co., Ltd.,
Inteplast Group,
ProAmpac LLC,
Berry Global, Inc.,
Nihon Matai Co., Ltd.,
Gilchrist Bag Manufacturing LLC,
Alpha Poly Corporation,
Mondi Group,
Klabin,
Ross & Wallace Paper Products, Inc.,
Cromwell Polyethylene Ltd.,
Segezha Group LLC,
Seevent Plastics Ltd.,
Wooderson Packaging Ltd.,
LC Packaging International BV,
PH DOBIS Sp. z o.o.,
Muscat Polymers Pvt. Ltd.,
Detpak

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Demand for Packed Food Creating Prospects for Multiwall Bags Sales

The global multiwall bag market is looking at steady growth owing to the rising demand for packaged food products. Another important element driving the multiwall bag market growth is the demand for creative and sustainable packaging solutions.

Furthermore, the steadily expanding need for grain crops is resulting in high demand for fertilizers, particularly in emerging nations, which is driving demand for multiwall bags and is likely to drive the market through the forecast period.

Global Multiwall Bags Market By Category

By Material, Global Multiwall Bags Market is Segmented as:

Plastic
Paper

By Capacity, Global Multiwall Bags Market is Segmented as:

Up to 5Kg
6Kg to 10Kg
11Kg to 25Kg
Above 25Kg

By End use, Global Multiwall Bags Market is Segmented as:

Food
Chemical & Fertilizers
Building & Construction
Automotive
Other End Use

By Region, Global Multiwall Bags Market is Segmented as:

North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa
Oceania

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Table of Content

Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

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Tags Market is Expected to Showcase a Remarkable 5.2% CAGR Between the Forecast Years 2022 and 2032

Usage of tags has been drastically increased in brand promotions of products through printing technology. Future Market Insights (FMI) has forecast the tags market to grow by 5.2% CAGR between 2022 and 2032.

Custom printing of bar codes help consumer to track products as per the information in accordance with their needs. Quality of printing on tags provide a more aesthetic look to attract customers towards the product.

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Loop, RIFD tags on food & beverage, electronics & electrical, and clothing & apparel provide an extensive edge towards brand promotion. Moreover, easy accessibility of ease in printing technology will provide impressive opportunities for design and manufacture of tags over forecast period.

FMI has forecast that the demand and sales of tags will be definite and in increasing order. Factors such as increase middle class family income, increase in millennial generation’s e-commerce expenses, convenience factor coupled with advance tracking processes will exponentially increase the tags sales globally.

Key Takeaways from Tags Market

By material type, the plastic segment accounts for the leading share of 43% in the global tags market.
On basis of tag type, RFID tags will remain more preferred due to their durability and ease in inventory & asset management. The segment is anticipated to increase 1.8 times during next 10 years.
In terms of end use, the clothing & apparel segment will create incremental opportunity of US$ 2,444.1 Mn because of the rise in disposable income of middle class families in emerging economies.
South Asia and East Asia collectively are expected to register maximum growth rate of 7.2% and 6.5%, respectively by 2032.

“The usage of RFID tags is increasing rapidly across the globe. Their application especially in consumer electronics has created abundant opportunities for tags manufacturers. Increasing emphasis on ease in logistical and inventory management is anticipated to redefine the tags market growth” says FMI analyst.

Increase in Demand for RFID Tags to Increase Sales in Market

In the last decade, usage of RFID tags has drastically increased in the consumer electronics segment. They have been proven quite useful & handy when it comes to logistical management.

RFID tags are a type of tracking system which uses radio frequency to track, search, communicate and track with items or people. RFID tags are known as smart labels, as they easily store a ton of varied range of information like a short description, serial numbers or even pages of data.

Due to usage of low, high & ultra-high radio frequencies in market to identify shoplifters and other risks to different merchandise which in turns uplifts the revenue generation.

Nowadays, usage of RIFD tags have seen an increase in end use industries such as clothing & apparel and cosmetics. This trend is exponentially increase the demand for RFID tags which helps in asset management. This will result an increase in the demand of RFID tags over the forecast period.

Tags Market Landscape

Dortex Werbung und Vertrieb mbH, Zebra Technologies Corp., Honeywell International, Sato Holdings Corp., Finotex USA Corp., CCL Industries Inc., Pacific Coast Bach Label Inc., NXP Semiconductors, Confidex Ltd., GAO RFID Inc., HID Global Corp. are also the noticeable players in the tags market. The Tier 3 players in the market hold 65-70% in the global tags market. In conclusion, key players contribute almost 30-35% of the global market.

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Tags Market By Category

By Material Type, Tags Market is segmented as:

Plastic
Paper
Fibers
Others (Metal, etc.)

By Tag Type, Tags Market is segmented as:

RFID Tag
Hang/ Swing Tag
Loop Tag

By End Use, Tags Market is segmented as:

Food & Beverage
Clothing & Apparels
Hospitality & Travel
Beauty & Personal Care
Consumer Electronics
Others

By Region, Tags Market is segmented as:

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

Tags Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global tags market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals growth projections on the tags market on the basis of material type (plastic, paper, fibers, others (metal, etc.)), tag type (RFID tag, hang/ swing tag, loop tag), and end use (food & beverage, clothing & apparels, hospitality & travel, beauty & cosmetic care, consumer electronics, etc.) across seven regions.

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FMCG Packaging Market Sales Growing at a CAGR of 5.7% Through 2032

The global FMCG packaging market is expected to reach US$ 418.8 billion in 2022, with sales growing at a 5.7 percent compound annual growth rate (CAGR) until 2032. According to the analysis, rigid packaging is the most prevalent type of FMCG packaging, accounting for roughly 63.2 percent of the global FMCG market by 2032. The market is estimated to reach US$ 726.6 billion by 2032, with a healthy demand forecast.

Packaging protects items during transportation, extends their usable lives, and even communicates important information about the product’s composition and purpose. Packaging that is well-designed makes transportation and stocking easier while reducing waste throughout the supply chain.

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Due to the expansion of sectors such as electronic, pharmaceutical, food & beverage, and personal care in emerging nations, sales in the FMCG packaging market are likely to remain robust over the forecast period. The emergence of smart packaging solutions with barcodes and QR codes for providing product information to consumers is one of the primary drivers driving the industry. Inventory processes in the warehouse, such as life cycle management, stocking, and tracking, are also benefiting from smart tags and smart packaging.

Botch, for example, included smart technology into the carton printing process to track and trace product movement across the supply chain. Ultra-contact labels, which are temperature monitor labels that stress the ideal temperature, have also been added by PakSense.

“Eco-friendly paper-based packaging is likely to gain popularity over the forecast period, increasing market growth.” Growing environmental concerns and packaging requirements would give opportunities for players to improve product quality, boosting sales during the projected period, according to the FMI analyst.

Important Points to Remember:

Based on end-use, sales in the food and beverage sector are predicted to expand at a 6.1 percent CAGR until 2032.
• In terms of material, plastic will continue to be in high demand.
• According to material type, the rigid packaging market is predicted to grow at a CAGR of 5.5 percent throughout the assessment period.
• The United States will continue to lead the North American FMCG packaging industry until 2032, with sales growing at a 5% CAGR.
• Through 2032, the Indian FMCG packaging sector is predicted to grow at a healthy 7.3 percent compound annual growth rate (CAGR).

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Leading players in the global FMCG packaging market are investing in research and development to develop sustainable packaging solutions for a variety of sectors. In addition, companies are merging, acquiring, and forming alliances to expand their global market reach.

Acosta, a prominent consumer packaged products sales and marketing firm, was hired to exclusively represent Ball Corporation’s aluminium cups at retail and on-premises outlets across the United States in May 2020, including grocery, drug, and C-stores, as well as food service.

Global FMCG Packaging Market By Category

By Product Type :

Flexible Packaging
- Pouches & Sachets
- Stick Packs
- Bags & Sacks
- Foils & Films
Rigid Packaging
- Boxes & Cartons
- Trays
- Tubes
- Containers & Jars
- Bottles
- Cans
- Blisters

By Material Type :

Plastic
Paper and Paperboard
Metal
Glass
Others (Wood, Foam, etc.)

By End Use :

Food & Beverage
Pharmaceuticals
Personal Care & Cosmetics
Homecare Products
Electronics
Others (Office Supplies, Textile, etc.)

By Region :

North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa
Oceania

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Baking Molds And Trays Market Growth in Fast Moving Consumer Goods Industry By 2031

Future Market Insights (FMI) has projected the baking molds & trays market to record 6.3% CAGR between 2021 and 2031. Due to increase in demand for sustainable packaging solutions globally, the wooden-based baking molds & trays are expected to outgrow the sales of plastic (CPET-based) baking molds & trays packaging solutions.

A majority of food packaging companies in the region are already exhibiting high demand for biodegradable packaging solutions for their food products in order to meet their sustainability targets. However, in the U.K., most of the prominent companies have shifted their focus from CPET material to wooden paperboard material due to significant increase in its demand in the last few years.

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Companies such as Panibois was launched in such thinking to introduce complete wooden based baking molds & trays solutions in the market. With its extensive line of products, Panibois is one of the forth leading manufacturers in wooden based baking molds & trays solutions, and simultaneously meeting the sustainability criteria for Sustainable Development Goals 2030.

FMI forecasts that the sales of baking molds & trays will increase considerably in the coming years. Factors such as consumer inclination towards green solutions, easy disposable baking trays and molds, user experience and convenience factor coupled with advance recycling processes will exponentially increase the baking molds & trays sales globally.

Key Takeaways from Baking Molds & Trays Market

By cavity type, multiple cavity segment is ahead and leading the global baking molds & trays market. With its cost effectiveness, target segment is estimated to hold lion’s share of 80% during the forecast period.
On basis of material, silicone is mostly preferred in the market due to its durability, safety and hygienic properties. The same segment is anticipated to increase 2.02 times of current value, during next 10 years.
As per FMI experts, although industrial segment is expected to hold major chunk of the global market, commercial end use segment is expected to witness a gain of 150 bps of current value share by 2031, due to increasing health conscious youth preferring baked food over others.
East Asia and South Asia combined are anticipated to generate large financials for baking molds & trays market due to lower tax slabs and cheap labor and easy foreign investment laws. Collectively these two regions are estimated to create cumulative incremental opportunity of US$ 370 Mn by the end of 2031. On the other hand, mature markets of North America and Europe are expected to hold prominent market share of almost 37% by the year 2031.

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“The global consumption of bakery & confectionary products is rising exponentially, especially usage of ready to eat food products has opened attractive opportunities for baking molds & trays manufacturers to maximize their sales. Growing emphasis on safe and sustainable packaging is anticipated to redefine the baking molds & trays market growth,” says FMI analyst.

High Perforation of Baking Molds & Trays in Food & Food Services Industry to Augment the Sales

Demand for global baking molds & trays market is on a rise because of the steady increase in the disposable incomes of middle-class families. They are manufactured of high quality such as silicone, plastic, metal and possess properties such as durability, uniformity, and are sustainable. These lightweight and recyclable molds & trays are predominantly used in food and food service sector baking and confectionary purposes. These are available in a variety of shapes in the market such as circular, oval, rectangular, etc.

Urbanization has increased the standard of living of middle class households, with increase in working class parents, families are more dependent on purchasing bakery and confectionary items from commercial outlets. This has been a major cause for exponential rise in the baking molds and trays market over the span of last few years.

Impact of COVID-19 on Baking Molds & Trays Market

Global crisis of COVID-19 pandemic had a low to moderate impact on the sales of baking molds & trays in the global market. Initially lack of availability of raw materials stopped the manufacturing process in factories across globe. Lockdown in prominent regions induced considerable impact on the manufacturing of baking molds & trays. Moreover, disruption of supply chains caused due to strict guidelines & overall lockdown lead to a complete shutdown of manufacturing plants for months. In general, the sales for baking molds & trays nearly halted during the lockdown causing a downgrade for the sales of target market. But during the last few months of the year 2020, supply chains were restored and trade routes re-opened due to which target market gained traction.

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Baking Molds & Trays Market Landscape

Nordic Ware, Guardini S.p.A., SILIKOMART S.r.l. are the top players operating in the baking molds & trays market. Furthermore, Hans Brunner GmbH, Pavoni Italia S.p.A., Dongguan AASIN Technology Co. Ltd., Bold Maker are also the noticeable players in the baking molds & trays market. The Tier 3 players in the market hold 80-87% in the global baking molds & trays market. In conclusion, key players contribute almost 13-20% of the global market.

Baking Molds & Trays Market by Category

By Cavity Type:

Single
Multiple

By Material:

Plastic
Silicone
Metal
Wooden
Others

By End Use:

Commercial
Household
Industrial

By Region:

North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa
Oceania

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Billing Paper Market to Record Compound Annual Growth Rate (CAGR) of 6.0% Between 2021 and 2031

According to Future Market Insights (FMI), the global sales of billing paper market is expected to surpass US$ 1489.8 Mn by 2031. Billing-cum-invoice paper allows for multiple copies to be made of a document.

Increasing application of billing papers as invoice and transaction receipts in the businesses and e-commerce sector is driving the demand. On the back of this, the market is poised to expand at 6% CAGR between 2021 and 2031.

As companies in the industrial sector are increasingly becoming conscious towards the hazardous effect of carbon paper on environment, demand for sustainable and carbon-less billing paper have burgeoned. Also, expansion of e-commerce and retail sectors across India, China, and the U.S. is expected to increase the sales of billing paper.

Sales of billing paper witnessed moderate growth during the FQ-20 owing to the unprecedented outbreak of COVID-19. While disruption of supply-chains due to global lockdown hampered the sales, adoption of eco-friendly billing papers increased in the healthcare sector due to the transportation and supply of COVID-19 vaccines.

As per FMI, sales of billing paper grew by 4.4% year-on-year in 2021, and is projected to surpass US$ 831.2 Mn.

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Key Takeaways from Billing Paper Market

2 Parts NCR Paper is the most preferred paper type, with a 36.5% market share by 2031..
In terms of basis weight, 40-100 GSM is expected to be highly sought-after, accounting for highest market share of 58.8% during the forecast period.
In terms of application, institutional segment will dominate the segment, holding 35.1% market share by 2031.
Asia Pacific is estimated to grow the highest 8% CAGR during the forecast period.
Sales of billing paper in Thailand are expected to surge at an exceptional 10% CAGR between 2021 and 2031
China is expected to spearhead the growth of East Asia market, contributing over 66.2% sales by 2031.

“End users institution, education, commercial and household sectors are switching to a customized range of invoice and receipts of billing papers due to their multifaceted attributes, which covers safety, accuracy, and durability. Also, manufacturers are increasing the production of eco-friendly and user-friendly customized billing papers to capitalize on the existing trend,” says FMI analyst.

Availability across Shopping Malls and Supermarkets Will Augment the Sales

Billing papers are ideal for invoices, purchase orders, receipts, and other essential documents because they transfer the data from the top sheet to multiple sheets beneath. They are extensively used in supermarkets and retail stores for invoice and receipts printing to mark the product details.

Billing papers as a billing-cum-delivery challan book are placed at every cash and delivery counter to provide the consumer with exact product details and payment proof. It is considered the most economical printing technology due to low maintenance costs and less energy consumption.

Less administrative time is required to fill up the details, and accuracy increases the customer’s satisfaction and loyalty. When signed on the billing paper invoice book, it is considered a valid and authentic proof document.

Availability of different color coded billing papers creates organizational efficiency, easy filing, and distribution. Hence, rising consumer preference for shopping in supermarkets and shopping malls due to convenience and the fast, easy, and accurate billing will bolster the demand for the billing papers.

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Electronic Invoicing and Digital Payment as Alternatives to Paper Might Limit the Sales

Growing penetration of digital technology and internet banking have allowed smartphones to receive bills, receipts, and statements. Digital invoices, reports, and receipts alleviate the printing and handling costs for businesses.

Consumers store digital bills and receipts on mobile phones, computers, or laptops to quickly access the documents when required. Due to the growing need for safe and secure digital technology, companies share important documents, invoices, and credit card bills through emails and other digital technology.

Paper invoicing, printing, and dispatching wastes valuable staff time, energy, and costs. Time spent resolving invoicing data entry and processing due to human errors on paper billing is very high. Hence, rising trend of digital and online trading through internet banking, mobile banking, ATM centers, and card payments are limiting the sales of billing papers.

Additionally, fewer people are required to process electronic invoicing. The invoicing accuracy and better efficiency due to digital technology will reduce the demand for billing paper.

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Billing Paper Market Landscape

Koehler Paper Group, Pixelle Specialty Solutions, Mitsubishi HiTec Paper Europe GmbH, Asia Pulp & Paper (APP) Sinar Mas., and Jinyi Paper Co., Ltd. among others are the prominent players in the global billing paper market. The Tier 1 players in the market hold 25-30% in the global billing paper market.

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Airless Packaging Market Growth By Projections, Attributed to Shortfalls in Production Cycles and Supply Chain Disruptions Till 2030

Future Market Insights’ latest report on the airless packaging market presents a holistic analysis of the key factors likely to influence growth during 2020-2030. According to a new study by FMI, global demand for airless packaging will witness a deceleration in the short-term, however, growing e-commerce sales will induce an early recovery.

Traditionally, airless packaging is used on a large scale in cosmetics sector; FMI believe status-quo to remain unchanged during the assessment period. Various cosmetics manufacturers are diversifying into body care products, which is considered the primary driver for airless packaging solutions.

Airless packaging manufacturers are exploring several innovative packaging solutions by incorporating various material such as high-density plastics, glass and other eco-friendly material in order to attract potential clients.

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Key Takeaways

By packaging type, bottles and jars will remain the most preferred options
Polypropylene derived plastic packaging material will remain the most sought after due to its lightweight and inert properties
Europe will be the largest market for airless packaging; market growth will be complemented by surging airless packaging adoption in Asian countries
Airless pumps are likely to surge in popularity, attributed to their nearly 100% dispensing rate
Demand for sustainable packaging solutions compelling vendors to incorporate eco-friendly materials

“Increasing virtual transactions regarding cosmetics is prompting airless packaging manufacturers to offer safe packaging solutions to prevent any damage during transit,” comments the FMI analyst.

COVID-19 Impact Analysis

The COVID-19 pandemic has led to a global financial crisis, with production cycles across prominent industrial domains being immensely disrupted. Supply chain distortions are narrowing revenue and profit margins, leading to significant shortfalls in cash reserves.

The aforementioned impacts are also being felt across the airless packaging landscape, albeit at a moderate level. As traditional brick and mortar sales of cosmetics have dipped, consumers are relying on e-commerce channels to purchase their products. This is sustaining the demand for airless packaging solutions.

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Until 2022, a mild deceleration of growth is expected due to government mandated lockdowns which have disruption various logistical apparatuses required to transport the required material to manufacture airless packaging products. Post-pandemic, however, growth is expected to be restored to its normal trajectory, offsetting all disruptions and shortfalls.

Competitive Landscape

The global airless packaging market landscape is characterized by the presence of several reputed and small-scale players. A number of strategies, including product differentiation, pricing, product customization and collaborations, are deployed by these players to increase their presence.

Some prominent players within this landscape are Aptar Group Inc., Albea Beauty Holdings SA, LUMSON SPA, Silgan Holdings Inc., HCP Packaging, Quadpack Industries, Libo Cosmetics Company and Fusion Packaging among others.

In May 2020, Aptar Group Inc. successfully launched the Essencia Screw Pump for refillable fragrances. This product launch was in response to surging demand for sustainable packaging solutions. The pump allows eco-conscious consumers to refill and reuse the pump for multiple uses.

Recently, Albea Beauty Holdings SA’s dispensing product portfolio was acquired by Silgan Holdings Inc. This acquisition aims to expand the latter’s dispensing solutions portfolio and capture a much larger customer base. The company’s most recent product launch includes the Mini NEA Lotion Pack tubes measuring 17 mm in diameter.

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More Valuable Insights on the Airless Packaging Market

Future Market Insights, in its new report, offers an unbiased analysis of the global airless packaging market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the hermetic packaging market on the basis of packaging type (bottles & jars, bags & pouches, tubes and others), material (plastic, glass and others) and dispenser type (pumps, dropper and twist & clicks) across seven regions.

About Packaging Division at Future Market Insights

The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help

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About FMI

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