Market Research Blog – Page 14207 – New Product Development

APEJ Region Stays Center of Pulling in Value Prospects in Automotive Pumps Market

Growing revenue of the uninterrupted growth of the middle class, entirely in a rising nation such as India and China, is tempting automakers to concentrate on the mid-size and compact segments. Special or premium attributes such as anti-lock braking systems, cabin comfort systems, automatic transmission systems, and power steering are no more confined to the executive, premium, and luxury cars. With rising rivalry amid automotive makers and altering customer lifestyles, the majority of the foremost attributes are being presented in the mid-size or compact car category on a bigger scale. These expansions in cars are anticipated by customers and are moreover promoting automotive makers to boost the implementation scale of these launchings in the abovementioned car fragments.

Gasoline turbochargers to generate a substantial requirement for the makers of vacuum pumps are disposing of innovative fuel injection systems, for instance, GTDI (gasoline turbocharged direct injection), to fulfill increasing customer need for fuel effectiveness. This aspect is likely to perform as a foremost stimulant for automotive pump sales. The trend is projected to hold up the sustainable market expansion of light and passenger commercial vehicles in the regional market, for instance, Western Europe and APEJ.

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Carmakers are centering on bringing down vehicles carbon emissions to cohere to ever-evolving emission norms, worldwide. Several carmakers have laid down aims to bring down emanation levels in the approaching years. Even improvements and small tweaks presented by them could lessen carbon emanations. As asserted by Continental – a worldwide automotive component organization – utilizing electric fuel pumps that have higher pressure in automotive vehicles, could help in lessening carbon emanations by 1.5-2 g per km for 1.8-liter gasoline or diesel engines. The aforesaid aspects will boost the employment of progressed automotive pumps by car makers in the approaching years.

The COVID-19 outbreak goes on to spread all over continents, extending automotive production, and producing humanitarian tragedy. China – the origin of the pandemic – is the production center of automotive parts. Several automotive pump makers in emerging regions have acknowledged assembly amenities in China. Since governments are striking bans on export-import actions along with public gathers, this has considerably distressed the supply chain in the worldwide market.

Key Takeaways from Market Study

The worldwide market exceeded US$ 50 Billion in 2019.
Growing on-road vehicle fleet and increase in private vehicle ownership are aspects mainly fueling market expansion.
Fuel supply pumps account for foremost market revenue share; fuel injection pumps to witness momentum.
Implementation of automotive pumps will be important in passenger cars, whereas in HCVs and LCVs to go down in the next term.
Electric automotive pumps keep on to stay in-need, due to their reduced power consumption and increased pressure regulation capacity.

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In previous years, a rise in the several of acquirements is foreseen in the market. Topmost market participants are expansions in production capacities and vigorously engaging partnerships with local suppliers to addressing the rising need for automotive pumps. Foremost players in the market, for instance, Aisin Seiki, Robert Bosch GmbH, Magna International, KSPG AG, Denso Corporation, along with Continental AG, are centering on novel product expansion to increase their product portfolios

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Supported Implementation by Construction Sector in Growing Nations to Drive the Timber Wrap Films Market

Timber wrapping film is a convincing packaging solution that guarantees timber amid shipment along with the store. These films are used to defend the timber from sogginess and external components that can impact the completion of the thing. Timber wrap films with higher contact are used to give anti-slip affirmation to timber packaging. High strength & barrier films are used for timber packaging to enhance the idea of the packaging. In a general sense, these films are expected to screen the timber from exorbitant climate circumstances as well as dealing with the harm.

Key Takeaways from Market Study

Timber products have acquired substantial need due to industrialization and the resurgent construction industry, successively upholding the growth of suitable packaging films. Timber wrap films keep on to foresee sustained implementation as an efficient result to combat warping.

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Rising nations offer potential development avenues for timber wrap film makers, as the focal point of governments on infrastructure development and boosting new construction exercises, regulate the need for several timber-based products. Nations in South Asia and East Asia stays most time serving the makers.
The focal point of leading stakeholders in the market on strategic growth via independent sales partners, and acquirement of small-scale firms for growing their subsidiaries, carry on to sustain the moderate market development.
R&D investments for value-added and novel offers, such as UV-stabilized and non-woven timber wrap films, would also stay a key development sustenance aspect.

Globalization has provoked the fast advancement of export & import worldwide. This has given rise to colossal supply chains along with extended the activity of logistics, with market players comprehending versatile packaging to enhance their packaging systems for capable and effectual delivery. Harm resistant, low-cost, along with lightweight characteristics have caused them a significantly searched for in the viewing of packaging products in the timber segment.

Furthermore, the commencing of industrialization along with the construction business has extended the prerequisite for timber products fundamentally. This is accredited to how that the films are lightweight, strong, along with the primary strategy for packaging for urging the timber delivery to furniture producers and end-users. Several rising and emerged countries have just settled for timber transportation on timber wrap films.

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With completely higher usage of timber around the world, market advancement possibilities for the timber wrap films are demanded to increase. Foremost attributes of timber wrap films, for instance, high obstruction along with cost-effectiveness qualities, have exhibited valuable for import & export of timber to energize profitable along with dynamic delivery. There is a growing necessity for a decline in operating costs by various wood-based makers.

There is no quick relationship amid timber wrap films along with wooden item makers. Then again, when natural timber is transported and exported, to deflect loss on account of distorting and different climatical perspectives, it expects a huge activity. Foremost timber wrap filmmakers are in this manner looking for packaging arrangements that could foresee losses as a result of infrequent climatic conditions during storage & transportation. The prerequisite for a dynamically helpful system has provoked the progression of new films.

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COVID-19 Impact: Demand for Clean Label Ingredients Accelerates Owing to High Consumption of Organic Products

The reluctance of consumers to out-of-home food consumption on the back of the outbreak of COVID-19 has led to significant reduction in demand for product lacking ‘essential’ status. It has also propelled the home dining trend among consumers. Hotels, restaurants, and cafes worldwide have witnessed a dramatic decline in customer footfall, thereby directly impacting the profits of foodservice outlets. This has significantly increased the trend of purchasing food items with increased focus on clean label products.

Rising awareness among consumers will drive clean label ingredients market. In addition to this, the market will benefit from higher disposable incomes and consequent willingness to spend on organic food. In developed markets, sales are likely to remain high. Also their purchasing power is comparatively high, which will support the growth of the market. Furthermore, clean label ingredients are gaining traction in the cosmetics industry. For instance, Glico, a Japanese company that deals in skin care ingredients made up of corn starch-based glycogen is planning to launch all their products in the global market. However, demand-supply gap is widening amid widespread supply chain disruptions.

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Manufacturers’ Inclination towards Clean Label Ingredients to Attract a Larger Consumer Base

The market landscape of clean label ingredients is seeing a surge in investments on the launch of clean label products. The use of organic colors such as the extraction of brown colors from rice is surging the demand for clean label ingredients in the processed food industry. Similarly, manufacturers are extracting and using organic orange color from carrot and pumpkin extracts.

Further, they are largely using stevia, pectin, gums, and clean label flour in food production. Presently, consumers are inclining towards organic based products, which is further enhancing clean label ingredients market growth. Changing trends towards food that are minimally adulterated, whilst maintaining the natural content of food will hugely impact the clean label ingredients market growth in the near future.

Easy-to-use and easy-to-carry snack options offering healthy benefits will substantially improve product demand. With changing lifestyles and hectic work schedules, the demand for easy-to-use and ready-to-eat products is growing. Increasing awareness regarding clean label ingredients encourages consumers to identify the ingredients used in these aforementioned products.

Moreover, growing consumer focus on the nutritional value of specific food product such as organically processed food with high protein and vitamin content is expected to leverage demand for clean label ingredients. The demand for these products will continue to mount across the globe, particularly in developed countries.

Clean Label Ingredients Trends to Pave Way for Exciting and Profitable Opportunities

Consumer awareness about deleterious effects of unnatural foods, processed foods, and artificial ingredients has initiated the new trend of transparency regarding food content. This is rapidly adopted by several market leaders to see expedited consumer demand. Following are the key companies who have concentrating on embracing clean label packaging on their products.

DDW’s, a natural food color extracting company, offers a wide range of colors. They extract ingredients from fruits and vegetable juice concentrates, keeping the labels clean and products colorful and organic.
Kalsec, provides natural food color to food manufacturing companies. The company extracts color for dairy applications such as pink, orange, and yellow from carrot, annatto, turmeric, and paprika. Further, it also produces beet extracts that give a perfectly pink shade for berry-flavored ice cream or strawberry-flavored milk.

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What’s Next for Clean Label Movement?

Consumers are never satisfied, they will continue to look beyond the products and the demand for product transparency will continue to grow. Food companies are investing heavily in R&D activities. Their investments in manufacturing unadulterated organic food to set a healthy trend will continue to expand in the following years. As the “clean label” trend gains traction, building consumer trust will be paramount. In the search for foods and beverages that meet their “clean label” needs, many shoppers are deep diving to understand the ingredients used in the production of the product. Moreover, cornstarch is gaining tremendous traction in the clean label ingredients market.

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Packaging Testing Services Market Update: Covid-19 Reaffirms Critical Need for Business Agility

Amidst self-isolation rules, lockdown, and cancellations, the Covid-19 pandemic has been affecting the packaging industry in general and packaging testing services in particular, leaving businesses to make big decisions on how to progress. While supermarkets can’t keep their shelves stocked and various foodservice sectors are struggling with low foot traffic and closures, there are signs that consumers are rethinking their preference for ‘packaging-free’ consumption. The pandemic and subsequent rise in panic buying is likely to influence appreciation of the important roles packaging play in maintaining the safety and integrity of products. As a result, the long-term outlook of the packaging testing services appears promising, while it is expected to face slight decline in 2020.

Packaging testing equipment and services are vital for every supply chain to avoid product damage, legal situations, and poor user experiences. However, the recent coronavirus turmoil is taking its toll on every supply chain across major markets and subsequently on current growth prospects of the packaging testing services market. On the other hand, the outbreak is influencing consumers to look for ways to minimize social contact, which in turn, accelerates the growth of e-Commerce industry. The result is expected to potentially raise the demand for protective packaging and improve future prospects of the packaging testing services market. Additionally, as businesses struggle with labor shortages, an upsurge in investment in automation is expected.

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High Demand for Pharmaceutical and Medical Device Packaging Promises Lucrative Opportunities

Global focus on accurate test kits and research efforts to find vaccines against Covid-19 has been growing strong. In addition, strategic partnerships have been set to tackle another big problem – getting drugs and test kits safely to those who need them. While stakeholders are focusing on creating high-volume surge in pharmaceutical packaging and medical device packaging, it is critical for manufacturers to verify their package design and ensure that the products will not experience any damage during shipping. This, in turn, is generating higher demand for packaging testing services.

With Covid-19 causing considerable disruptions for companies operating in various industries, many are seeking ways to relocate their supply chain away from China, the epicenter of the outbreak. Regional markets for packaging testing services, other than Asia Pacific, are thus likely to grow strong going forward. Furthermore, market players’ focus on expansion in China is expected to come to standstill in near term.

North America and Europe will continue to remain key markets for packaging testing services, in the view of significant presence of service providers and strict regulatory framework for packaging formats, especially pharmaceutical, medical device, and food & beverage packaging. Many market players are further coming forward to assist authorities and healthcare advocates in making sure the packaging materials and products are on the frontline to combat the spread of Covid-19.

Packaging Testing Services Market: Beyond Coronavirus

As the pandemic unfolds and becomes difficult to authoritatively predict the full impact, market stakeholders are braced for challenges in their supply chains. In the packaging, damaged products would further result in loss revenue, consumer confidence, and additional production to replace the damaged products. Thereby, packaging testing services and packaged goods value chain will play a major role in near term to maintain productivity and safety.

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Mounting concerns over the ubiquity of plastics and enforcement of new environmental regulations are projected to lead to significant changes in packaging testing in the future. To capitalize on rapid expansion of online retail industry, it is critical manufacturers to design, test, and ensure their meets retailer requirements, which in turn will remain instrumental to the market growth.

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Covid-19 Outbreak: Implications for Growth Prospects of Two Wheeler Lead Acid Batteries Market

As electric vehicles and connected cars make greater strides in the automotive industry, battery-powered personal transportation has been garnering significant attention in recent years. Additionally, a rise in popularity of electric scooters has been in part due to remarkable advancements in lead acid batteries and battery technologies. Although electric motorcycles or battery-driven two wheelers received far less global attention than electric cars, the scenario is beginning to change, especially in developing countries where motorcycles account for high percentage of vehicles on the road. The result has led to increased demand for two wheeler lead acid batteries. However, the recent outbreak of coronavirus is causing a disruption in the supply and sales of two-wheeler components including lead acid batteries.

In 2019, global sales of two-wheeler lead acid batteries market reached US$ 4.2 Bn and were projected to increase 5% on y-o-y basis in 2020. However, the impact of Covid-19 on the supply chain of two wheelers is likely to adversely affect the market growth. With the World Health Organization (WHO) declaring it a pandemic, coronavirus has also cast a dark shadow on the operations at manufacturing facilities of two wheelers, particularly in Asian countries. Moreover, a large number of two wheeler manufacturers announced the shutdown of their plants which in turn escalates the downside risk of the two wheeler lead acid batteries market.

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The ongoing outbreak has caused a slowdown of China’s economic growth and is anticipated to have a negative impact on its renewable energy investments. With strong focus on increasing the country’s portfolio of renewables, decreasing fuel consumption, enhancing efficiency to deal with carbon emissions, the two wheeler lead acid batteries in China was forecast to cross US$ 4 Bn mark by 2029. However, due to uncertainty following the disease outbreak in the country, the estimated number is likely to show a decline.

Two Wheeler Lead Acid Batteries Market Post Supply Chain Normalization

With factories reopening and production restarting in several cities in China, the epicenter of the coronavirus outbreak, two wheeler component manufacturers are expected to resume normal supplies in near-term. This is expected to weigh on a same scale as the recovery of two wheeler lead acid batteries market. In addition, market players are targeted towards independence from the current supremacy of Chinese manufacturers, aiming to secure their battery supply chains.

The global two wheeler battery market is projected to grow strong going forward in line with trend of micro-mobility and two wheeler rental services.Significantly influenced by the high recyclability rate of about 90%, demand for lead acid batteries continues to move on an upswing. These batteries have been gaining traction as storage devices for two wheelers starting and power supply systems. The rise in demand for two-wheelers with high engine capacity, on account of country-side riding trend and booming e-Commerce industry that heavily relies two-wheeled transport for deliveries, is directly influencing the sales of motorcycle lead acid battery.

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The influx of electric scooters or e-bikes in both developed and developing market has resulted in integration of innovative products and systems such as two wheeler anti-lock braking systems which works to the advantage of the market players. However, lead acid batteries are facing fierce competition from alternative storage technologies and being challenged by new application requirements, in addition to impact of coronavirus outbreak. Emergence of new-age two-wheeler batteries such as lithium-ion (Li-ion) batteries which are steadily declining in price represents a potential threat for the market players. Over the years, rechargeable valve-regulated lead acid (VRLA) batteries gained real-world application in two wheelers, especially electric scooters. In addition to high recycling capacity, two wheeler lead acid batteries require less energy to produce and fulfill the cooling requirements for battery management systems, thereby securing the demand over their Li-on counterparts.

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Sales for Chlorine Disinfectant to Propel Amid COVID-19 Pandemic with High Infection Rates and Soaring Fatalities

In recent times, COVID-19 has raised an implication for the healthcare sector to ensure optimal hygiene of healthcare centers along with medical equipment. This helps in preventing hospital acquired infections (HAI). Amid COVID-19 outbreak, preventing spread of disease contagion and maintaining optimum hygiene is paramount in hospitals. Owing to this, sodium hypochlorite, a chlorine-based disinfectant, is widely being used for cleaning and disinfecting the hospitals and medical laboratories.

In addition, chlorine disinfectants ensure safe water for drinking. Hospital kitchens and cafeterias are dependent on chlorine disinfectants to eliminate the hazardous food-borne bacteria such as salmonella and E.coli on food preparation surfaces. This, in turn, is enabling broader use of chlorine disinfectants. Due to these factors, the global chlorine disinfectant market is expected to cross US$ 3 Bn in 2023, increasing at a promising growth rate.

The chlorine disinfectant market will continue to witness high demand from industrial wastewater, textile leaching, swimming pools, and hospitals in the near future. One of the prime segments of the chlorine disinfectant market is industrial water treatment. Chlorine is widely used due to its property of effortlessly killing pathogens present inside contaminated or infected water.

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Yearly, approximately 58 million metric tons of chlorine is produced across the world for its primary and tertiary sectors. Due to its properties of being an exceptional oxidizing agent, disinfectant and bleaching agent, chlorine has large-scale industrial applications. Owing to this, the chlorine disinfectant market is expected to grow promisingly in the near term.

APAC Continues to offer Lucrative Opportunities for the Market Players

APAC will remain the epicenter of growth in the chlorine disinfectant market, due to the top-line growth of industries such as healthcare and water treatment. Singapore, Vietnam, Indonesia, and other populated countries have a noticeable contribution to the region’s population. With the expansion of population, demand for construction buildings for commercial and residential purposes is catapulting at an unprecedented rate. Owing to this, the construction industry is demanding chlorine disinfectant in abundance. Thus, the market for chlorine disinfectant will gain considerable traction.

Demand for chlorine disinfectant is witnessing a huge rise in APAC, due to the COVID-19 pandemic. The governments of various countries in APAC have ordered the municipal authorities to use chlorine as a disinfectant. This has changed the dynamics of chlorine disinfectant in the regional market place.

Industrial Wastewater to Remain Primary Application Area

Leading players in the market are concentrating on industrial wastewater, where chlorine disinfectants are commonly used in various forms such as solid calcium hypochlorite or liquid sodium hypochlorite solutions. Chlorine disinfectant applications in industrial wastewater are poised to account for revenue worth US$ 2 Bn.

This growth is attributed to the increasing use of chlorine disinfectants as it strikes an ideal balance between environmentally friendly treatment for waste streams and low cost in comparison with other chemical compounds. Owing to these properties of chlorine disinfectant, the market is expected to gain traction in the near future.

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The use of chlorine disinfectant is immense in the industrial wastewater treatment, as it is an excellent chemical agent for killing pathogens. Additionally, water treatment facilities have started using chlorine disinfectants in the walls of reservoirs where water is stored for supplying to the villages and cities. This has provided the impetus to the chlorine disinfectants market and will act as an important growth driver post normalization of the COVID-19.

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How the Coronavirus Outbreak Will Impact the Growth of Body Armor Market?

With a wealth of technologies on the horizon, new test standards are being written or reviewed and innovative products released for body armor materials and systems. The protective role of body armor against most rifle, submachine gun, and pistol fire continues to offer tailwinds to the market growth. In recent past, key players in the body armor market have been increasing their investment in product innovation to enhance elasticity, ensure far protective systems, and provide improved capabilities while imposing less weight on the user. Additionally, an embrace of R&D has been underway for fibrous fabrics and materials for soft body armor. Increasing demand for a huge range of personal protective equipment and armored vehicles in line with strong global focus on counterterrorism and improved battlefield effectiveness significantly contributes to the growth of the body armor market.

In the current scenario, the coronavirus outbreak is expected to result in grave downturn in various markets related to defense industry and the body armor market is no exception. While it is still early to determine whether the market will be flat, see sales slump, or grow unaffected by the pandemic, stakeholders must analyze the major impact points and their potential to affect production, supply chain and bottom lines.

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The local or regional body armor markets affected the outbreak and stakeholders dependent on the supply chain located in affected countries such as the U.S., China, and India will be the immediate victims of the pandemic. Additionally, several governments are targeted towards deprioritizing defense spending while focusing on expansion of healthcare facilities. This, in turn, is expected to create a hindrance in the body armor market growth. While innovations have been forthcoming among market players to set their products apart from the competition, commercialization of body armor is characterized by extensive testing and evaluation. However, the current scenario does not augur well with such business development practices.

Body Armor Market – Longer-term Outlook Remains Positive

While tradition assumptions and forecast statistics of the body armor market are rendered irrelevant due to disruption of the current outbreak, key players must focus on future outlook of the market. Most stakeholders have business continuity plans and the trend of customization of body armor for mission-specific requirements will work in the favor of the market growth.

North America contributed 1/3^rd of the total sales of body armor in 2019 and will continue to carve out a larger size of the global market value. In the U.S. market, the current situation appears less dire with demand supported by budgeted government spending on the defense industry. Heightened scope of application among law enforcement officers, security personnel, and civilians will also continue to open new avenues for revenue growth. In Asia Pacific, increasing warfare and cross border disputes remains key growth influencer of the body armor market. Additionally, several countries in the region are expected to increase their military recruitment and subsequently lead to surge in the adoption of body armor. Material advances in body armor are generally driven by the need for weight and cost reduction.

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Ultra-High Molecular Weight PolyEthylene (UHMWPE) fibers and fabrics stayed in demand against other materials for body armor, owing to their excellent ballistic performance against high-velocity fragments. However, significant advancements in technologies and modern initiatives are prompting military forces and security agencies to opt for the latest protective gear. Manufacturers are thus hard-pressed to invest in advanced materials and smart textiles to enable the development of different body armor concepts and increase the levels of protection.

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Bread Improvers Market to Propel in Near Term, as Consumers Opt for Healthy and Convenient Food during COVID-19 Outbreak

Bread improvers play a crucial role in defining the functional and physical properties of bakery products. Bread improvers are used to boost taste, texture, color, and stability of bakery products such as cakes, donuts, buns, biscuits bread, croissants, rolls, and pizza. Emulsifiers are among the major ingredients that are primarily used as bread improvers in bakery product applications. Additional ingredients such as oxidizing agents, enzymes, and reducing agents are also commonly used in bakery applications. Bakery companies have been progressively innovating their product offerings to fulfill consumer demand on functional and taste requirements including high nutritional value and low fat. Demand for different varieties of bread such as multigrain and whole wheat spurs the need for bread improvers. Owing to these factors, the global bread improvers market is expected to cross US$ 5.3 Bn through 2029.

On account of the recent COVID-19 outbreak, the dynamics of the food and beverage industry has changed remarkably. The probability of smaller companies and micro bakeries of surviving the looming recession caused due to COVID-19 is vulnerable. On the other hand, likelihood of bigger commercial bakeries surviving is substantially high. Nonetheless, this does not protect the bigger companies from the ongoing turmoil. Some leading players such as PepsiCo have already halt their production of cereals and snacks owing to rapidly spreading COVID-19 infection among people. Similarly, other companies have ramped up their production to offset the growing threat from COVID-19 pandemic. Post normalization of the COVID-19 situation, bread improvers will start gaining impetus.

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Subsequent Focus and Rising Demand for Clean Label Bread Improvers

The mounting concerns over food quality and safety amid consumers, complexities in food products, and the global increase in food trade have led to the pre-requisite for innovative and new ingredients and food processing methods. The trend of utilizing healthy and organic food ingredients is a result of the demand for clean-label bread improvers. These products are free of harmful chemicals and synthetic additives across the globe, especially in developed regions such as North America and Europe. The demand for clean label bakery products is growing speedily in developed economies such as the U.S., France, Germany, and the U.K. Thus, the booming food & beverage industry and changing lifestyles have uplifted the demand for clean label bread improvers.

The demand for clean label bakery products is rising worldwide owing to the growing concerns of consumers related to the quality of diet. In the European Union, bread is considered as a staple food; however, consumers keep looking for healthful alternatives to the bakery products produced using clean label ingredients. Owing to this, food companies are launching new products made with enzymes that have emerged as a clean label option in the bread improvers market. Increasing innovations within the bakery industries are likely to drive demand for bread improvers.

Owing to the COVID-19 pandemic, demand for bread and bakery items has spurred rapidly. As consumers are stockpiling their personal pantries, significant demand for bread and bakery products is being witnessed. Gradually the supply of these products is reducing, as manufacturers are not ramping up production any further. Thus, demand for bread improvers is likely to grow at a moderate rate.

Growing Application Scope of Bread Improvers
Bread improvers are conventionally used to decrease the time needed for flour dough to rise and to improve its workability. However, with growing investments in R&D, new applications are emerging. For instance, mounting usage of certain enzymes in the dough, are added to the dough, to decrease its protein solubility. Thus, they enrich both the nutritional and taste profile of the food product. A few other emerging applications include textural improvements, flavor enhancements, protein-based fat replacements, are prolonging shelf life.

Bread improvers find myriad applications in bread, pastries, buns, muffins, rolls, and cakes for prolonged shelf life in order to maintain its softness. Many pastry and cake producers have commenced marketing single-serve pastry products, by considering the overall trend of shorter preparation time and increased convenience. Flour used in baking is generally treated with cake or bread improvers to have characteristic texture and taste. Therefore, in developing regions such as APAC, increasing demand for patisserie products is likely to augment the demand for bread improvers in the region.

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COVID-19 pandemic has bolstered the demand for bakery products at the initial stage. However, declaration of nation-wide lockdowns has created havoc among consumers, and as a result, they have stored the eatable products in bulk. Therefore, the current situation has started to disrupt the supply chain of food products along with shutdown of factories. Owing to this, the demand for bread improvers is growing at a slow pace.

Bicycle Bags and Bag Packs Market to Witness a Dip in Production and Revenue in the Age of COVID-19

COVID-19 is an economic and health disaster that has permanently changed the way people live and work. The effect of coronavirus on consumer products industry is profound and lasting. This crisis is fundamentally changing what and how consumers buy, which is accelerating massive structural changes in the consumer goods industry. Further, in some of the developed countries, the imports and exports of consumer goods have reduced tremendously. The impact of coronavirus has created a shift in priorities for consumer goods. Government is taking certain actions to keep the production ramped up for essential consumer goods. The production of only basic goods is being largely focused on to meet the needs of the consumers. Due to this, manufacturing of bicycle bags and bag packs are on halt across the globe.

Surging Use of Multi-Functionality Bicycle Bags and Bag-Packs

Multi-functionality of bicycle bags and bag packs is expected to boost the market growth during the forecast period. These bags are designed in such a way that they offer several benefits. They are convenient and compact for traveling with additional features for bicycle shoes, kit, helmet, and other accessories. Moreover, some of these bicycle bags are designed to keep laptops, thereby enabling working population and college students to ride bicycle to work and colleges efficiently.

With the development in retail and consumer goods products, manufacturers have also started manufacturing bags in the market that are highly durable. As a consequence, these bags are also being used for local traveling, gym, workplaces and are also carried during international competitions. These factors are heightening the demand for bicycle bags and bag packs.

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Bicycle Carrier Bags to Gain Traction

Carrier bags hold a major share in the global bicycle bags and bag packs market, owing to growing awareness among customers along with rising retail space for the product. Accelerating trends of long tours and bicycle tourism for social causes are the major reasons giving impetus to bicycle riding. In addition, these bags lower the center of gravity of the bicycle that helps in balancing the cycle and are specially designed for this purpose. As a result, there is huge demand for cycle carrier bags globally.

New Products Emerge as Game Changers in Bicycle Bags and Bag Packs Market

Aeroe Bike Pack: In January 2019, bicycle bags and bag packs market witnessed an introduction of BikePack by Aeroe. This is versatile bag designed, tested, and verified for carrying gear on bikes. It is rugged, lightweight, and has quick mount and release action and is a perfect fit for any long cycling tours, MTB expeditions, urban commuting for everyday use. This BikePack is also perfect for use on eBikes.
Rapha Rolltop backpack: The Rolltop backpack by Rapha is one of the latest product launches for fashionistas of cycling and designed to promote city slicker styling, an upcoming trend in Western countries, matching different types of bikes. These backpacks are widely being used as they have abrasion-resistant fabric and are water-resistant and easy to rummage around inside the cavernous interior. Also, the black stripes on the back have a series of attachments for locks and lights.

Celebrity Endorsement to Remain Key Growth Strategy

In recent times, manufacturers are hiring celebrities to promote their brands. This is expected to boost sales of bicycle bags and bag packs as they spread positive word-of-mouth and promote the brand on social media. Consumers perceive these celebrities as having immense credibility and respect their opinion. Owing to this, sales of bicycle bags and bag packs are poised to grow at a modest rate in the near future.

The outbreak of COVID-19 has resulted in the rise of number of people staying indoors causing a reduction in the cycling tours and related activities. This has impacted the way the companies are marketing their products. Also, it has critically hampered the production of bicycles and related accessories such as bicycle bags and bag packs.

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Online Sales for Bicycles Shoes are Anticipated to Skyrocket Post COVID-19 Pandemic

Coronavirus pandemic and its implications on the bicycle industry have disturbed the overall sales of bicycle accessories such as bicycle shoes. Manufacturing, supply chain, as well as logistical operations are critically hampered, resulting in an uncertain business outlook in the near term. Some of the leading manufacturers of bicycle shoes have already warned their investors and customers that the company no longer anticipates a quick bounce-back of business after coronavirus outbreak is contained. Some of the companies at the beginning of 2020 were under the assumption that the situation will normalize in a short period of time. Thus, manufacturers had strategized to achieve their full-year target. As the COVID-19 crisis is intensifying rapidly across the globe, companies are now revising their outlook.

Owing to this, it has become difficult for companies to quantify the negative effect this could have on this financial year’s earnings and revenues. Major companies such as Adidas and Puma are also witnessing a downfall in the sales for FY 2020-2021. During the initial stages of COVID-19 impact, all the offline stores remained opened except in China. As the impact of the virus spread globally, the market players had to shut down their production and keep their stores closed, which severely affected the sales of the bicycle shoes. Moreover, few stores in some of the regions are operating under reduced opening hours as enforced by the government of the country.

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Some of the small companies are planning to promote their products online, as they are unsure of the normalization of the situation throughout the financial year. Furthermore, China resumed back all its operations after a long-term lockdown. It has opened all seaports and ground transportation as well as outbound logistics. This has given some relaxation to the manufacturers for a smooth supply chain. For instance, Adidas and Puma have their major manufacturing units of sports accessoriessuch as bicycle shoes in China. All their facilities remained shut during the lockdown period in the country. This affected the sales of both companies. Thus, some of its stores have reopened and the expected loss will soon be recovered in the country.

Furthermore, this crisis is also encouraging bicycle shoe manufacturers to promote their products on the online shopping portal. In addition, the step taken by the manufacturers will also be beneficial in the long run. Due to this the e-commerce industry is poised to gain significance in the global market. Additionally, due to global lockdown, the people are experiencing weight again. Owing to this, the demand for bicycle shoes will skyrocket, as most of the population will involve themselves in fitness activities such as gym, cycling, and recreational activities.

Surging Female Participation to Push Product Demand

An increase infemale participation for cycling sports is becoming a trend. Health consciousness is one of the major factors that is boosting the interest of participation in females. In addition, female candidates are highly inclined towards leisure activities when compared to sports;however, there is growth in cycling sports participation. Another factor catapulting female participation is the growing media attention. As per British Cycling, from 2013, more women have started taking up cycling in the UK and it has reached the target of getting one million women on bikes by 2020. Similarly, a surge in female participation in cycling sports is experienced across the globe. All these factors are driving the female cycling participation, which in turn, will augment the sales of bicycle shoes across the globe. On the back of these factors, the global bicycle shoes market was valued at US$ 998.7 Mn in 2019.

Growing Bike Sharing Trend in the U.S Influences Product Demand

Corporate sponsors’ logo, stylish branding, and dockless bike sharing are transforming transportation facilities in the United States. Dockless bike sharing is trending across the city as the users can easily park their bikes anywhere within defined locations and lock or unlock the bike with the help of a smartphone application. This is a cost-effective approach that allows the provider to charge lower user fees. Furthermore, Seattle city is expected to have one of the largest bike share systems in the country. Emergence of this trend has vastly escalated the demand for bicycle shoes in the U.S.

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Innovations and Ongoing Trends in the Bicycle Shoe Market

Over the recent past, the global bicycle shoe market has witnessed an increase in the adoption of the product due to growing initiatives taken by gyms, associations, and companies as fitness weekend programs and CSR activities. This, in turn, is accelerating the sales of the cycling accessories such as helmets, bags and bag-packs, and bicycle shoes among riders. Demand for bicycle shoes such as mountain bike shoes and road bike shoes are showcasing noteworthy growth. Likewise, manufacturers are focusing on product development in order tobring a new style and design in the market space.New product launches also support the growing interests of customers for adventure sports.

In March 2020, Leatt introduced an innovative shoe for mountain biking activity. These shoes are a combination of comfort, design, and control for mountain bikers at all levels. It also offers innovation of carbon rubber soles that provides stability, adherence, and durability while biking.
In February 2020, Rapha expanded its product range of shoes with the addition of Pro team road shoes. It is among the most elegantly stylish and comfort product launched by Rapha. It has undergone hydrophobic treatment that enhances the suitability in wet conditions. This shoe is becoming a trend in the U.S bicycle shoes market. Owing to these factors, these shoes are also gaining traction in cycling sports.
In November 2019, PEARL iZUMi, one among the world’s leaders in cycling footwear and apparel, introduced a variety of shoes. The company is popular for innovative bicycle shoes designed especially for gravel riding, indoor studio cycling, and new road shoes made of full carbon -fiber sole. The company debuted all its footwear at Eurobike 2019 as a promotional strategy and to enhancethe customer base.

In August 2019, Bontragerlaunched XXX mountain bike shoe for incredibly comfortable and supporting mountain rides, stiff enough for efficient paddling. These shoes are lightweight in nature as they are particularly made for mountain racing and are an ongoing trend in the bicycle shoes market.

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