Transport Cases and Boxes Demand from Defense Sector Continues to Grow: FMI

ESOMAR-certified firm Future Market Insights (FMI) has recently published an all-encompassing study on the global transport cases and boxes market, estimating it to expanding at a growth rate exceeding 3% in 2021. Demand is largely stimulated by prolific advancements in military spending and burgeoning developments across the global shipping industry.

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Furthermore, opportunities also abound across the chemical industry, with prolific advancements in manufacturing and packaging technologies pushed by increasing concerns regarding safe and secure transportation of hazardous material. Until 2019, the chemical industry reached US$ 69.3 Mn, with UK emerging at the forefront. Hence, manufacturers are increasing their presence across Western European countries, especially, UK, Germany, and France.

In addition, the automotive market is welcoming prominent transport cases and boxes manufacturers with open arms, with tremendous potential exhibited by the electric vehicles (EV) segment. Future Market Insights projects the automotive transport cases demand to aggrandize at nearly 4% until 2021, being valued at nearly US$ 150 Mn. With electric car sales surpassing the 2 million mark in 2019, prospects appear extremely bright in the next five years. Hence, demand for robust packaging solutions for electric vehicle equipment is witnessing a credible rise, prompting the entry of key transport cases and boxes players.

Key Takeaways

  • By carrying capacity, demand for below 20 kg to remain dominant, registering 5.7 million unit sales by 2021-end
  • High durability and resistance to wear and tear to increase adoption of polyamide transport cases and boxes
  • 3-5 kg transport boxes to account for nearly 40% revenue in 2021 by case weight
  • Extensive uptake anticipated across the military segment, followed by the chemical industry
  • Demand for waterproof cases and boxes to proliferate, capturing nearly 75% of the revenue share
  • Global transport cases and boxes market to expand at a value CAGR of 3% through 2030

“Heightening demand for container size standardization combined with concerns regarding environmental sustainability is prompting manufacturers to leverage eco-friendly solutions to enhance their product portfolios,” remarks the FMI analyst.

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Competitive Landscape

The transport cases and boxes landscape is highly competitive, attributed to the presence of a multitude of regional and global level manufacturers. Key players profiled in the transport cases and boxes report include Pelican Products, Inc., PARAT Beteiligungs GmbH, SKB Corporation, Inc., GT Line Srl, bwh Spezialkoffer GmbH, Plastica Panaro S.r.l., Thermodyne International Ltd., C.H. Ellis Company, Inc., Plasticase Inc., Gator Cases Inc., GMOHLING Transportgeräte GmbH, Cases By Source, Inc., Procases Inc., and Shell-Case Design Ltd. among others.

In August 2020, bwh Spezialkoffer introduced the ALUshape presentation cases for prominent aluminum roofing manufacturers. Likewise, in September 2020, the company unveiled its SAFEDI event box, which is individually manufactured case suitable for transporting mobile charging and power supply equipment.

In November 2020, Pelican BioThermal doled out a series of deep freezer containers of temperatures ranging between -80 degrees to -20 degrees Celsius for pharmaceutical companies to disburse COVID-19 vaccines once they receive approval from the respective countries’ regulatory authorities.

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More Insights on FMI’s Transport Cases and Boxes Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global transport cases and boxes, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the transport cases and boxes on the basis of material type (plastic, metal, leather & others), carrying capacity (less than 20 kg, 20-50kg, 50-100 kg, 100-150 kg & 150 kg & above), end-use (military equipment, photography & music equipment, medical and fire safety equipment, measuring & communication equipment, electronics & semiconductor components, automotive & mechanical parts, chemicals, biotechnology and others), case weight (< 3 kg, 3-5 kg, 5-10 kg, 10-15 kg and > 15 kg) and waterproof feature (waterproof & non-waterproof) across seven major regions.

Stainless Steel Market Is Anticipated To Reach US$ 193.97 Bn By The End Of 2031

Stainless steel market is anticipated to reach US$ 193.97 Bn by the end of 2031 owing to the increasing demand from various industries. As per a study by Future Market Insights (FMI), the growing demand for corrosion resistant material, with high tensile strength material in various sectors such as chemical industries, petrochemicals industries, food and beverage industries, oil & gas, automotive sector, construction industry and many others is anticipated to augment the growth of the stainless steel market in the coming years.

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Also the use of stainless steel is rising in the production of home appliances, cookware, and cutlery, which is expected to continue enabling sales in the market. Austenitic stainless steel is estimated to remain the top-selling stainless steel owing to its application in chemical industry, equipment and storage tanks manufacturing, in mining and chemical equipment, in pharmaceutical equipment, and in cookware and cutlery. According to the report, more than 77% of stainless steel sold in 2021 will belong from this category.

Key Takeaways of Global Stainless Steel Market Study

  • The global stainless steel market is estimated to expand at a CAGR of 5.5% during the forecast period of 2021-2031
  • Presence of well-established industries and expansion of power plants sealed America’s dominance, enabling the U.S. represent over 86% of North America stainless steel market in 2021
  • Expansion of building and construction sectors will drive sales in Germany and France
  • The U.K. will remain a key market, exhibiting 4.4% y-o-y growth in 2021 after a brief period of negative sales
  • Backed by increasing production of stainless steel, China will remain dominant in East Asia

“Companies operating in the stainless steel market are focusing on capacity expansion. A trend which will continue through the assessment period, enabling growth in the stainless steel market,” said an analyst at FMI.

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Growing demand from various end use sectors is projected to boost the Stainless Steel market significantly during the forecast period 2021-2031. China, U.S., and Japan are anticipated to remain prominent countries in the market of stainless steel, owing to presence of various end-use sectors and excellent production capacity of stainless steel.

However, owing to the pandemic impact in the year 2020, stainless steel market is expected to witness a significant downfall in the growth due to the disruption in the supply chain and decrease in demand. However, post the pandemic crisis, the market is anticipated to grow with a significant growth rate over the forecast period.

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Who is Winning?

The global stainless steel market has been identified as a significantly fragmented market along with organized sectors occupying a fair share of the overall market. Some of the key market participants which are included in the report are ArcelorMittal, Nippon Steel and Sumitomo Metal Corporation, POSCO, JFE Steel Corporation, AK Steel, Thyssenkrupp AG, Hyundai Steel Co., Ltd., Outokumpu, Acerinox, Yieh United Steel Corp., Baosteel Group, Aperam, Jindal Stainless Limited, Gerdau, and Vallourec.

Technical Textiles Market to Witness a Healthy Growth by 2031

The technical textiles market will register positive growth with the overall valuation forecast to surpass US$ 183 Bn in 2021. The market’s worth will increase at a compound annual growth rate (CAGR) of 4.60% between 2021 and 2031. Global sales are expected to rise at 4.7% with shipments reaching nearly 37,872 KT in 2021, following a period tepid growth in 2020.

3M, DuPont, Arville, Milliken and Company, and Freudenberg & Co. KG have been identified as the leading market players. Future Market Insights (FMI) has estimated these companies to account for nearly 20% to 30% of the global market share in 2021.

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Key Points Covered in Technical textiles Market Study
  • Market estimates and forecast 2021 – 2031
  • Key drivers and restrains impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competitive Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact On Technical Textiles Market
  • Recommendation on Key Winning Strategies
2016 – 2020 Global Technical textiles Market Compared to Sales Forecast for 2021 – 2031

Technical textile market registered growth at a robust pace between 2021 and 2031. Increasing adoption of technical textiles in agriculture and farming activities to boost the crop yield and modernization in farming methods have bolstered the prospects of the technical textile market growth.

The demand for technical textiles rose significantly during COVID-19 pandemic. Sales uptick registered can be attributed to increasing demand of medical grade masks in hospital and other healthcare centers.

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Category-wise Insights
Which Technical Textiles Type Is Experiencing High Demand?

By application type, mobiltech textiles are expected to exhibit tremendous growth in upcoming years owing to rise in manufacturing and sales of automotives across the globe. Technical textiles are used in manufacturing air bags, seat belts, seating upholstery, tire cords & linear, and others owing to high durability and wear resistance offered by these textiles.

Government mandating the installation of airbags in the automobiles and stringent rules regarding the usage of seat belts and increasing consumer spending on high quality and durable seating upholstery will drive the demand for mobiltech textiles in upcoming years.

Why is Non-Woven Based Production Process Most Preferred in Technical Textile Market?

By process, the non-woven segment will continue to lead the technical textile market growth during the forecast period. Non-woven process is preferred over composite and other process as it is cheaper than other process and improves properties of individual properties of natural fiber or synthetic fiber, which ultimately enhances the performance of textile material.

The non-woven textiles have better cushioning and absorbency, making them an ideal material for automotive application. High strength and softness are desired in sportswear manufacturing, thus driving the demand for non-woven textiles.

Competitive Landscape

Leading market players are focusing on scaling up their investments R&D to innovate their product offering while simultaneously participate in strategic merger and acquisitions to gain maximum market share, says FMI.

In November 2020, Duvaltex in collaboration with Steelcase developed new ocean waste clean impact textiles™ technology, which turns marine plastic waste into surface fabric with full traceability.  “Intersection” is the first ocean waste clean impact textiles™ and is available in 17 different colors and applicable on more than 50 Steelcase screen and panel product lines.

In March 2019, 3M launched its new sustainable insulation material “Thinsulate insulation” for fashion and clothing industry, made from 100% recycled fabric and plastics. This product is expected to reduce the carbon footprint of fashion industry.

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Key Segments Covered in Technical textiles Market Study:

Application:

  • Agrotech
  • Buildtech
  • Hometech
  • Indutech
  • Sportech
  • Packtech
  • Mobiltech
  • Meditech
  • Clothtech
  • Geotech
  • Protech
  • Oekotech

Process:

  • Nonwoven
  • Composites
  • Others

Region:

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

Body Armor Market to Reach ~US$ 3,231 Mn by 2029, Soft Body Armor to Fuel the Market, says FMI

The global body armor market size is expected to reach ~US$ 3,231 Mn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at a CAGR of ~5.2% between 2019 and 2029. According to the report, rapid escalation on boarder line, ensuring soldier survivability, and cross-border terrorist insurgencies are the major factors that drive the requirement of body armor products in the market. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.

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It includes in-depth insights into the body armor market. Some of these are:

  • The estimated value of the market was at ~US$ 1,946 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
  • Regionally, North America dominates the body armor market globally.
  • East Asia emerges as one of key markets owing to increasing focus on defense and ensuring safety of soldiers in the country.
  • The level II segment body armors are expected to expand at highest CAGR owing to surge in demand in the law enforcement application segment.
  • The composite ceramics segment dominated the market in 2019 in terms of revenue.
  • Key players are likely to focus on new product innovation such as developing lightweight and hi-tech bodysuits for delivering enhanced performance, comfort, and flexibility.
body armor market regional analysis

Soft Body Armor to Uplift the Market Scale

Soft body armor are the most preferred body armor among private security guards and policemen where flexibility and comfortable movement are of paramount importance. Advancement in technology, and growing security concern of guards, & policemen have pushed the market for lightweight body armor which is found as soft body armor. Technological innovations and modernization initiatives prompt security agencies and military forces to opt for the latest equipment. Moreover, flexibility and lightweight feature of soft body armor pushes the market further for higher usage.

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Composite Ceramics Segment to Dominate the Market

The composite ceramic material of body armor are considered to hold the major market share in 2019 owing to its high usage in body armor. The composite ceramic material perform well in resistance of ballistic attack. Moreover, it is lightweight which gives the user of flexible movement and thus known for high performance material type.

Who is Winning?

Some of the leading players operating in the body armor market are BAE Systems; Aegis Engineering Ltd.; AR500 Armor; Craig International Ballistics Pty Ltd.; Ceradyne, Inc.; Hellweg International; Point Blank Enterprises, Inc.; Kejo Limited Company; Ballistic Body Armor Pty; Pacific Safety Products; and Safariland, LLC etc. As a result of increasing competition, companies are focusing on expanding their product portfolio with new innovation. In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.

  • At present, industry players are focusing on developing lightweight, high performance body armor. Technological advancement such as liquid armor technology, using para-aramid material, CORDURA® technology boost the body armor manufacturers to innovate new products.

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Natural Cosmetics Market for men is expected to remain strong going forward.

According to a recently published business intelligence report by Future Market Insights (FMI), the global natural cosmetics market was valued over US$ 36 Bn in 2019. Rising awareness about the side effects of chemical-based beauty products and the trend of ‘green beauty’ are encouraging manufacturers to increase the production of natural cosmetics to target and retain a large segment of consumers.

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Tata’s Natural Alchemy, LLC and Henkel AG & Company, KGaA are amongst the top companies introducing all chemical-free products in their portfolio, as consumers’ inclination towards cosmetics with natural, safer ingredients intensifies.

Natural Cosmetics for Male Consumers to Gain Traction in Future

Modern men are taking a keen interest in caring for their skin. A rising number of men are inclining towards personal grooming and boosting greater self-confidence by looking good. In recent times, men are no longer limiting themselves to only shaving products and deodorants and becoming a habitual user of skin and personal care products.

The organic and vegan beauty movement is also playing an important role in building male consumer base. Additionally, chemical-free skincare products are finding greater resonance among young men who choose to align themselves with renowned brands. This, in turn, is expected to fuel the demand for natural cosmetics for male consumers.

Key Takeaways – Natural Cosmetics Market Study 

  • In comparison with demand in commercial spaces such as salons & spa, household consumption of natural cosmetics remain on higher side. Adoption of natural cosmetics in households accounts for approximately 2/3rd of the market revenue.
  • As per the FMI’s study, hair care and skincare natural cosmetics account for more than 50% of the total sales. Growing demand for these traditional products with organic and plant-based ingredients is expected to complement the market growth.
  • In 2019, sales of unisex natural cosmetics held over 1/4th of the total revenue. On the contrary, natural cosmetics for men are expected to witness higher demand over the forecast period.
  • Sales of natural cosmetics through wholesalers or distributors continue to account for high share of the global market value.
  • In order to strengthen their distribution network and increase consumer base, manufacturers are directing their sales towards convenience store and hypermarkets/supermarkets.
  • Distribution via online stores is expected to gain tremendous popularity in the near future.

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Europe Captures Major Market Share

Over the forecast period, Europe will continue to hold a significant share in the global natural cosmetics market. European Union has set up a sophisticated legislative framework for players to enter the natural cosmetics market. It assures that products sold in the EU market should fulfil the required standards.

In addition, European consumers widely prefer natural and plant-based products as the region support sustainability, which, in turn, is fueling the market growth. Demand will remain concentrated in Germany, Spain, France, Italy, and the UK and the presence of a larger distribution network with various sales channels will continue to attract new consumers.

More Valuable Insights

FMI’s report on the natural cosmetics market is segmented into five major sections-

Product

  • Skincare
  • Haircare
  • Fragrance
  • Toiletries

Application

  • Male
  • Female
  • Unisex
  • Baby

End-use

  • Personal care
  • Salon & spa

Sales Region

  • Hypermarket/Supermarket
  • Online Stores
  • Convenience Stores
  • Specialty Stores
  • Wholesale/Distributors
  • Club Stores

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And region to help readers understand and evaluate lucrative opportunities in the global natural cosmetics market.

About Consumer Products division of FMI

Expert analysis, in-depth insights, and strategic recommendations – the Retail & Consumer Products team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 500+ reports, the team has analyzed the consumer goods industry lucidly in 80+ countries for over a decade. We provide end-to-end research database on retail & consumer products market and consulting services; reach out to explore how we can help.

Hand Tools Market Latest Advancements and Business Opportunities 2027

The proliferation of do-it-yourself (DIY) culture owing to the rising labor costs in developed countries such as the UK, U.S., and Germany is anticipated to play a pivotal role in increasing the demand for hand tools. A study by Future Market Insights (FMI) has predicted the global hand tools market to reach  ~US$ 25.6 Bn by the end of 2031, growing at a CAGR of 3.9% over the forecast years (2021-2031).

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Customers have been increasingly adopting self-help approaches to modify and repair their homes. Furthermore, the primary factor driving the growth of the hand tool market is the increasing use of hand tools in the automotive industry for repair & maintenance purposes. Moreover, the increase in the use of hand tools in industrial applications is another driver of overall hand tools market growth.  As per FMI, the industrial segment will account for over 60% of hand tools sales through the course of the report’s forecast period.

Key Takeaways of Hand Tools Market Study
  • After recording negative growth in 2020 amid COVID-19, 2021 will be a year of recovery for the market, as it is forecast to exhibit over 3% Y-o-Y growth
  • The U.S. will remain a highly lucrative market, accounting for 80% of hand tools sold in North America
  • Within Europe, the U.K. will emerge as an important market, exhibiting a little above 3% Y-o-Y growth in 2021
  • Germany and France also will record consistently rising demand for hand tools through the forecast period
  • South Korea and Japan will emerge as attractive markets for sales in East Asia

“The hand tools market has been exhibiting consistent growth, despite temporary lull witnessed amid COVID-19. Factors such as the rapidly growing urbanization in developing economies and the adoption of technologically sound and innovative hand tools have been encouraging market players to focus on innovations. Moreover, increase in practice of DIY activities is expected to create positive prospects for hand tools market growth over the forecast period,” said a lead analyst at FMI.

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According to FMI, the market for hand tools is growing primarily due to the versatile features of hand tools such as the reduced size of the tool kit, maintenance & weight, and the increasing preference for multiple tools for multiple applications across various industries. Increasing customer preference towards DIY activities to surge the hand tools market globally.

Furthermore, high cost of maintenance and repair services for auto parts has created an urge among customers to execute do-it-yourself activities on their vehicles for short-term maintenance & repair. This has provided the manufacturers tremendous potential to manufacture hand tools and launch new & innovative products in the market.

Who is winning?

The hand tools market is a very competitive owing to presence of large number of small and medium sized manufacturers in the market. Leading manufacturers are gradually concentrating on positioning innovative technologies to design hand tools to improve the operating efficiency of commercial and industrial facilities. There is a fair amount of emphasis on innovation. Businesses functional in the hand tools market seek strategic collaborations with regional end-users and distributors to meet the needs of a growing consumer base.

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Some of the leading players operating in the market are Stanley Black & Decker, Inc., Snap-on Incorporated, IDEAL INDUSTRIES, INC., Apex Tool Group, KLEIN TOOLS INC., Emerson Electric Co., Akar Tools Limited, Channellock, Inc., JK Files (India) Limited, Kennametal Inc., Wera Tools

Pallet Pooling Market to Grow at Robust CAGR by 2029

Pallet pooling ensures the availability of pallets at the operational location, which results in a lean supply chain. Lean supply chain management leads to effective operational lead time. Owing to the rising inclination of most end users towards cost reduction, along with optimum lead time, the pallet pooling market is estimated to gain noteworthy traction in the coming decade.

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According to a new research report published by Future Market Insights (FMI), the pallet pooling market is estimated to exhibit 6% CAGR over the forecast period, to reach a valuation of more than US$ 11 Bn by the end of 2029.

Key Takeaways of Pallet Pooling Market Study

  1. Pallet pooling has prominent application in the FMCG sector, as warehouses play a crucial role in this industry.
  2. In terms of material, plastic pallet pooling is estimated to witness notable demand, owing to high reliability, durability, and cost-effectiveness of plastic pallets as compared to other types.
  3. Globally, the pallet pooling market in GCC countries is estimated to witness lucrative growth, owing to the positive outlook for industrial trade activities in the region, particularly for the e-Commerce industry. The U.S. is expected to hold a leading share in the global market, registering a significant CAGR throughout the forecast period.
  4. In recent years, pallets tagged with RFID have become more popular amongst end consumers, owing to their ability to provide location as well as detailed information related to stacked products on pallets.
  5. Pallet pooling is a one-time investment business, in which, the owner has to purchase pallets and then pooling can be done without any large investment. As a result, the market offers high profit margins to its participants.
  6. For the effective operational efficiency of pallets, pallet service providers perform quality checks after the end of every service cycle to provide high-quality pallets and efficient service cycles to end consumers. Continuous and high standard quality checks of pallets are estimated to help players in the global pallet pooling market gain a competitive advantage.

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 “In the pallet pooling market, flexible payment profiles allow end consumers to pay rent monthly or quarterly at fixed rental rates throughout the term of the agreement, and customizations can be made in rental agreement terms to suit the period of budget allocation and income patterns.”

Pallet Pooling Market: Competitive Landscape

The pallet pooling market is highly consolidated, owing to the presence of a limited number of pallet pooling service providers across the globe. Brambles Limited, Euro Pool Group, Faber Halbertsma, and Loscam are considered to be leading players in the pallet pooling market. Most market players are focusing on expanding their sales footprint in developing markets such as South Asia and the Middle East through the establishment of additional regional offices and sales partners.

Focus on Technological Advancements in Pallet Pooling

Increasing requirement of technologically-advanced pallet systems throughout the supply chain for lean management is anticipated to support the future growth of the global pallet pooling market.

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Find More Insights on Pallet Pooling Market

The research report analyzes the total sales value of the pallet pooling market on the basis of revenue generated by market players from the target product. The market is forecasted on the basis of factors such as warehouse traffic flow, adoption rate, government regulations, and sustainable development. The scope of the research report includes pallet management services catering to FMCG, food & beverages, chemicals & pharmaceuticals, and other related end-use industries.

Medical Loupes Market to Grow at 5.4% CAGR through 2029

As the world continues to deal with COVID-19 pandemic, the global market for medical loupes will decline during Q1 and Q2 of 2020 before returning to healthy growth in 2021, according to Future Market Insights (FMI) Yearly Medical Loupes Tracker.

The market has confronted a temporary setback in 2020 as supply chain disturbances have impacted revenue pool during early months and estimated product shipments have slowed the market mid-year.

That said, FMI estimates shipments of medical loupes to grow rapidly with CAGR of 5.4% from 2019 through 2029 as manufacturers and customers continue to invest in technology.

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Medical Loupes Market Size Study

  • Sales of medical loupes to rise at 5.4% CAGR during 2019-2029
  • Flip up loupes continue to capture leading revenue share, about 60%
  • About 6 out of 10 medical loupes to be sold will have Galilean lens, given their high magnification level, minimal weight, and easy usage
  • Adoption of medical loupes will remain high in surgical procedures through 2029
  • Markey players to remain glued to offline channels for sales of medical loupes over following decade
  • Substantial sales to come from North America, markets in East and South Asia to experience tremendous growth

“Tech-advanced products are continuously required in medical device industry. Safe and high-tech medical equipment curb medical expenses for patients. Medical loupes are becoming increasingly advanced with regards to magnification power, product weight, and high powered optics. Tech-enabled transformation will enable market players to boost revenues, expand margins, and pursue new revenue lines with innovative business models,” says analyst at FMI.

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COVID-19 Impact on Medical Loupes Market

The impact of COVID-19 pandemic has been negative on medical loupes market as several aesthetic procedures – liposuction surgery, breast implantation, and non-essential dental procedures – have been delayed due to pandemic-induced restrictions.

In order to free up limited space for individuals getting treated for COVID-19, hospitals have postponed – or canceled – several elective operations, particularly those considered non-urgent or non- essential.

Recent estimates have revealed that 15-30% of elective surgeries have been canceled in March 2020. Global market bariatric surgeries, implants, and cosmetic procedures will remain particularly vulnerable as these procedures are non-urgent, and can be delayed without significantly impacting quality of life.

That said, surgeries will return to pre-crisis rates by Q4 2020, with total numbers returning to pre-crisis levels by Q1 2022.

Medical Loupes Market – Competitive Intelligence

The global medical loupes market is fairly consolidated, wherein leading players are highly focused on developing innovative products to broaden their product portfolio as well as regional footprint. At present, market players are investing in R&D activities to come up with cutting-edge technologies. For instance,

  • Schultz Optical Co. Inc. has rolled out dental surgical loupes that offer 25% larger viewing field compared to others, and up to 5.5x magnification, as well as are lightweight, making dental surgeries extremely easier compared to conventional versions.
  • SurgiTel has developed two sorts of customized loupes – through-the-lens (TTL) loupes and front-lens-mounted (FLM) loupes. Customized FLM loupes allow re-adjustment of declination angle and field shape as per user requirement.

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Want to Know More About Medical Loupes Market?

Future Market Insights, in its new study, provides compelling insights about the medical loupes market that encloses industry analysis for 2015 – 2019 and opportunity assessment for 2020 – 2030. The report offers unbiased assessment on medical loupes market through five different categories – type, lens type, application, sales channel, and region. The global medical loupes market research study delivers insights of pricing by different life cycle analysis, product life cycle, major market trends and technologies that are being utilized in the development of medical loupes as well as their adoption in various end users.

Sun Care Products Market Witness a Spike in Growth Pace Recent Improvements in Pricing Models: FMI

Global demand for sun care products witnessed a decline in 2020, but the long-run prospects continue to be positive, according to a study by Future Market Insights (FMI). The study opines that market can see pre-COVID level activity in 2019.

FMI analysts opine that organic – which has made deep inroads into many F&B and cosmetics categories – is also making a mark in the sun care products landscape, with many consumers diligently checking labeling to know the ingredients.

The market has witnessed steady growth in the past few years, especially on the account of active ingredient incorporation, and the development of multifunctional formulations, which not only protect the user from the sun, but also provide skin lightening and anti-aging characteristics, which are also likely to boost growth.

Nanoparticles such as zinc oxide and titanium dioxide are finding application in sun care product formulations, enabling uniform application, lower residue and higher product efficacy, which is considered to help in popularity of these products among potential buyers.

Strict regulations associated with ingredients and labeling in the North American and European industries, coupled with lower awareness about the risks of sunlight exposure in rural areas and developing countries are key challenges for market players.

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FMI’s report offers an exhaustive overview, covering key market dynamics. Some of the takeaways from the report include,

  • Market valued at US$ 11 billion, with demand slowing down during the coronavirus pandemic
  • Sun care creams expected to remain highly sought-after on the back of easier application, and potential for optimized skin nutrition profiles
  • Sales of sun care products higher in women as compared to men
  • US and EU4 key to growth. However, many countries in Asia Pacific are displaying highly lucrative opportunities for manufacturers for geographical expansion.

“Manufacturers have transitioned to natural and organic ingredients to appeal to new consumer demographics. In addition, the extraction of natural ingredients provides better margins through cheaper raw materials,” said a lead analyst at FMI.

Covid-19 Impact on Sun Care Products Market

The global personal care and cosmetic industry has felt a substantial impact of the coronavirus crisis. Sales in the first half of 2020 have been largely weak. In addition, the large number of retail store closures have also affected the market.

Consumer priorities to spend discretionary income on essential commodities, coupled with the reduction in travel and outdoor recreational activities during the crisis are likely to hold back sales.

On the other hand, online sales of sun care products will witness strong growth, partially offsetting losses incurred by in-store sales.

Recovery of conventional sales and distribution is likely to be gradual. Market players are pushing for changes in promotion including significant discounts to move unsold seasonal inventory in the near term.

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Who is Winning?

In its study, FMI has scrutinized the different strategies deployed my major companies participating in the sun care products market. Leading market players are focused on the development of novel formulations and strategic geographical and capacity expansion with acquisitions being a major area of focus.

Some of the key players in the market include Johnson & Johnson, Shiseido Company Limited, Beiersdorf AG, Loreal SA, The Procter & Gamble Company, Unilever, The Estee Lauder Companies Inc., Lotus Herbal Pvt. Ltd., Avon Products Inc., and Bayer AG, among others.

Key Segments

Product Type

  • Creams
  • Lotions, Gels, & Oils
  • Others

Nature

  • Organic
  • Conventional

End User

  • Male
  • Female
  • Kids

Sales Channel

  • Wholesalers and Distributors
  • Online Retailers
  • Hypermarkets and Supermarkets
  • Pharmacy Stores
  • Specialty Stores
  • Convenience Stores
  • Others

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More Insights

Future Market Insights, in its new report, presents a detailed analysis of the global sun care products market, covering historical demand data and forecast figures for the period between 2020 and 2030. The market report provides extensive assessment of product pricing by different key market dynamics, life cycle analysis, and technologies that are being used in the production of sun care products and adoption across different demographics.

Pet Dietary Supplements Market Will Reach A Valuation Of US$ 3.78 Bn By 2021

Pet humanization is a growing trend where owners are treating their pets as counterparts and wanting to provide their pets with best nutrition for their wellbeing. With pet ownership becoming widespread, Future Market Insights (FMI) in a new study has projected the pet dietary supplements market to record impressive growth. According to the report, the market will reach a valuation of US$ 3.78 Bn by 2021.

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Pet parenting or pet humanization has been fuelling the demand for pet dietary supplements. This trend is being mirrored in the high frequency of the launch of innovative formulations in the market. According to Pet Food Processing, 45 new nutritional products for pets were launched in 2020.

The pet owner’s love for their pets is driving the demand for pet dietary supplements, besides the fact that supplements ensure that the pets receive proper nutrition, which off-the-shelf pet foods might be void of. Additionally, pet dietary supplements find demand among the millennial care takers.

Millennial, who account for a majority of pet owners, also think that pets deserve the same treatment as small children, thus explaining the demand for pet dietary supplements. Natural and organic pet supplements are becoming increasingly popular. Herbs and superfood are being incorporated into the pet supplements, which will aid the overall market expansion.

Probiotic Supplements to Be Highly Sought-after

As in case of humans, probiotic supplements for dogs are used to aid digestive health and regularity. Probiotic nutritional supplements facilitate the regulation of the good bacteria in the digestive system that helps to break down dog food so that nutrients can be better extracted. The probiotic supplements can also inhibit the growth of harmful bacteria that can make both humans and dogs sick, an example of which is E. coli.

Obesity is a growing health problem among pets, encouraging an increasing number of veterinary practioners to open weight-loss clinics. According to the Association for Pet Obesity Prevention, 59% of cats and 54% of dogs in the U.S. were overweight or obese in 2016, and this concern has increased over the recent years. Weight management is trending within the pet industry and dietary changes are being taken care of so as to regulate the pet weight and ensure its health.

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This change in consumer buying preference has encouraged the players in the market to focus on innovation and expand the portfolio, tapping the unexposed segments of the industry and as a result escalating the demand over the forecast period.  FMI in its latest study has forecast the market to rise at a CAGR of 7.1% between 2020 and 2030.

Key Takeaways from the Pet Dietary Supplements Market Study

  • FMI in its latest study has forecast the pet dietary supplements market to rise at a CAGR of 7.1% between 2020 and 2030
  • The U.S. will continue exhibiting strong demand and account for nearly 88% of the North America market
  • The demand from the U.K. will remain steady as FMI projects it to exhibit 3.8% Y-o-Y growth in 2021
  • Increasing pet ownership will support growth in Germany and France
  • Japan and South Korea will emerge as key markets in East Asia

 “Consumers’ awareness regarding pet health is rising, which in turn is increasing the demand for pet dietary supplements. Moreover, increasing focus of companies on advertisement and promotion of pet dietary supplements is positively aiding expansion of the market,” said an FMI analyst.

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Disruptions Caused Due to COVID-19 Impacting Sales

The current pandemic outbreak has posed numerous challenges on the part of supply side and demand side. The temporary regulation imposed by regional governments to restrict the movement has impacted supply chains drastically. Besides this, the spectacular shift from discretionary spending to essential goods has further negatively impacted the market growth.

E-Commerce is redefining the commercial activities around the world. In fact, the Covid-19 pandemic and lockdown effects have tipped the involvement of e-Commerce within all industries. The segment of population not prevalent with internet retailing has also adopted it, it being the only resort. There is a lot of opportunity for companies and online services to work together to offer greater engagement to consumers.

Who is winning?

A few of the key players in the pet dietary supplements market are Nestle SA, Mars Incorporated, NOW Foods, Blue Buffalo Co Ltd., Ark Naturals, Virbac, Novotech Nutraceuticals, Inc., Zoetis, PetAG, Inc., VetClassics and GNC, among others.