Market Research Blog – Page 14497 – New Product Development

Food & Beverage Industry to Witness Increased Application of Active, Smart, and Intelligent Packaging to Increase Product Shelf Life and Protect Product Quality

The global packaging industry has witnessed rapid innovations in the last few years owing to rising consumer preferences for advanced packaging solutions. To cater to frequently changing consumer expectations, manufacturers of packaging products are deploying active, smart, and intelligent packaging solutions to increase product shelf life and offer better value to consumers.

In a new report titled ‘Active, Smart, and Intelligent Packaging Market: Global Industry Analysis (2012 – 2016) & Opportunity Assessment (2017 – 2027),’ Future Market Insights studies the global active, smart, and intelligent packaging market and presents value and volume projections for a 10 year period from 2017 to 2027. The report also presents in-depth insights on the various forces likely to impact market revenue growth in the coming decade.

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According to the report, the global active, smart, and intelligent packaging market is estimated to be valued at US$ 18,072.6 Mn in 2017 and this is expected to increase to US$ 43,361.3 Mn by the end of 2027, growing at a CAGR of 9.1% over the forecast period.

Global Active, Smart, and Intelligent Packaging Market: Dynamics

Growth fuelling aspects: Increasing consumer preference for products with longer shelf life and case-ready meals, significant changes in consumer preferences, and a highly regulated and controlled packaging industry is anticipated to boost revenue growth of the global active, smart, and intelligent packaging market.

Revenue inhibiting factors: Strict compliance with stringent packaging laws, absence of appropriate technology, a no ‘positive list’ system, lack of key regulations, and heavy dependence on imports is expected to stifle global market revenue growth over the forecast period.

Future market trends: Increasing mergers and acquisitions, especially in the North America market, introduction of inks capable of responding to temperature changes, and the use of active, smart, and intelligent packaging to tackle the issue of counterfeits is currently trending the global market.

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Global Active, Smart, and Intelligent Packaging Market: Forecast by Packaging Type

The global market for active, smart, and intelligent packaging is segmented on the basis of packaging type into Active Packaging (O2 Scavenging Sachets, MAP) and Smart & Intelligent Packaging (TTI Labels, Freshness Indicators, RFID Tags). The Active Packaging segment is expected to grow by almost 2X times over the forecast period, with an estimated value share of more than 65% by the end of 2027. This segment is expected to represent the highest incremental opportunity of US$ 17,111.9 Mn over the forecast period.

Global Active, Smart, and Intelligent Packaging Market: Forecast by Application

The global active, smart, and intelligent packaging market is segmented on the basis of application into Food & Beverage (Meat, Poultry & Seafood, Fruits & Vegetables, Dairy Products, Bakery & Confectionary, Processed Food, Others), Pharmaceuticals, Cosmetics, and Others. The Food & Beverage segment is expected to be the largest, with an estimated market share of just under 45% by the end of the forecast period in 2027. The Food & Beverage segment is expected to expand by 2.5X times by the end of forecast period.

Global Active, Smart, and Intelligent Packaging Market: Forecast by Region

The global active, smart, and intelligent packaging market is distributed across the key geographies of North America, Western Europe, Eastern Europe, Latin America, Asia Pacific Excluding Japan, Japan, and the Middle East and Africa. North America and Western Europe currently lead the global market in terms of market share, both regions holding about 25% value share each of the global market as on date.

However, North America is expected to beat Western Europe towards the close of 2027 with a market share of just under 26%, while Western Europe will account for 21% value share by the end of the forecast period. APEJ is likely to emerge a surprise contender for second position in the global market by the end of 2027, closely behind Western Europe. The APEJ regional market will witness a massive increase of 550 basis points in market share in 2027 over 2017.

Global Active, Smart, and Intelligent Packaging Market: Competitive Intelligence

The report profiles some of the leading players in the global active, smart, and intelligent packaging market the likes of PakSense, Inc., Landec Corporation, Sealed Air Corporation, Bemis Company, Inc., Crown Holdings, Inc., Amcor Limited, 3M Company, Timestrip UK Ltd., Cryolog S.A., Vitsab International AB, Varcode, Ltd., LCR Hallcrest LLC, Thin Film Electronics ASA, CCL Industries Inc., Temptime Corporation, Multisorb Technologies, Inc., and Coveris Holdings S.A.

For more interesting insights on the global active, smart, and intelligent packaging market, Future Market Insights analysts can be reached at press@futuremarketinsights.com

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

Digital Makeover of the Beauty Industry Bolster Online Sales of Cosmetic Pencils & Pens, Finds an FMI Study

The global cosmetic pencil & pen market was valued at ~US$ 2 Bn in 2018, and is expected to increase at a CAGR of ~8% between the forecast period 2019–2029, according to a recent study published by Future Market Insights (FMI). The study opines that the increasing focus to developments and innovation will continue to remain one of the vital factors that accelerates the market growth of the cosmetic pencil & pen.

As per the key findings of the report, the global cosmetic pencil & pen market is projected to experience noteworthy growth over the forecast period due to various driving factors such as growing e-commerce industry and increasing demand for cosmetic product. The major players of cosmetic pencil & pen are focusing on the e-commerce channels for sales and promotion, finds the study.

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The e-commerce industry is growing at a good pace and is expected to contribute to the increasing sales of cosmetic products, and simultaneously influence the emerging trends in the global cosmetic pencil and pen market during the forecast period. E-commerce provide small and local manufacturers a large platform to do business, which is expected to increase in market share by reaching new customers.

Consumers are attracted towards the buying process provided by the e-commerce industry, it speeds up the buying process and saves time. It also provides a comparative study about the product with reduced cost, and this will bolster online sales of cosmetic pencil & pens in the coming future.

Asia Pacific to Hold One-Third Revenue Share; Market Leaders to Expand Their Presence in the Region

The FMI study finds that China, South Korea and Japan are the leading exporter and importer of cosmetic product in the Asia Pacific region, and these countries cumulatively accounts for approximately 2/3rd of the total Asia Pacific cosmetic pencil & pen market. It is due to increase in per capita income of working women and increasing attention towards fashionable cosmetic product.

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Europe is also expected to witness a positive outlook towards cosmetic pencil and pen in the forecast period followed by the Asia Pacific region. France and U.S. are the leading exporters in the global market. It is due to presence of key players in cosmetic pencil & pen manufacturing. Leading European cosmetic pencil & pen manufacturers are entering into potential market of Asia pacific, and more often in Southeast Asia.

The tier 2 companies are also planning to expand their presence in the global market with increased production capacity with acquisition and mergers. Growing penetration of local manufacturers in their respective regions also fuels the cosmetic pencil & pen market. Furthermore, emerging economies of Latin America such as Mexico and Argentina are expected to have potential in the cosmetic pencil & pen market during the forecast period. All these factors will create demand for cosmetic pencil & pen in the coming years.

Cosmetic Pencil & Pen Market: Vendor Insights

Leading cosmetic companies such as Intercos S.p.A, Swallowfield PLC, Schwan-STABILO Cosmetic GmbH & Co. KG and HCT Group are focusing on developing innovative product and also focusing on expanding its geographical presence to sustain in the market. The companies providing various types of cosmetic pencil & pen with increase product offering help them to increase the revenue and sales of the company.

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Some of the other key players in the global cosmetic pencil & pen market are Alkos Cosmetiques SAS, Oxygen Development LLC, JOVI S.A, A.W. Faber-Castell Cosmetics GmbH, Confalonieri Matite S.R.L, Columbia Cosmetics Manufacturing Inc, Eugeng International Trade Co., Ltd., Quadpack Spain SL, Ningbo Beautiful Daily Cosmetic Packaging Co., Ltd., The Packaging Company, and Alovey Cosmetic Packaging Co.,Ltd.

For additional insights on the cosmetic pencil & pen market landscape, write to the analyst at press@futuremarketinsights.com

About Packaging Division at Future Market Insights

Need for Safe Packaging to Combat Illicit Supply of Drugs Proliferate the Anti-Counterfeit Pharmaceutical Packaging Market Growth, FMI

A new market research report by FMI on the anti-counterfeit pharmaceutical packaging market includes global industry analysis 2014–2018 and opportunity assessment 2019–2027. The report analyses the anti-counterfeit pharmaceutical packaging market and provides critical insights for the forecast period 2019-2027. As per findings of the report, the global anti-counterfeit pharmaceutical packaging market is projected to experience a significant growth over the forecast period due to multiple driving factors.

The global sales of the anti-counterfeit pharmaceutical packaging market is estimated to be valued at ~ US$ 77 Bn in 2019, which translates into an opportunity worth of ~US$ 3.5 Bn for anti-counterfeit technology for pharmaceuticals.

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Developing Economies to Hold Promising Investment Opportunities during the Forecast Period

China & Japan cumulatively account for more than half of the total Asia Pacific anti-counterfeit pharmaceutical packaging market. This is accredited to the fastest-growing pharmaceutical market, particularly on the back of increasing number of population, coupled with rising regulations in pharmaceutical sector of China and India. The economical manufacturing environment and developing economy are vital factors driving the anti-counterfeit pharmaceutical packaging market in the APAC region.

Growing penetration of local manufacturers in their respective regions also fuels the anti-counterfeit pharmaceutical packaging market growth in the region. Furthermore, developing economies of Latin America such as Mexico and Argentina are expected to have potential in the anti-counterfeit pharmaceutical packaging market during the forecast period. Illegal sale of pharmaceutical drugs is a growing concern, most particularly in developing countries of Latin America where the lack of healthcare concern forces people to seek cheaper drugs.

This is hamstringing the anti-counterfeit pharmaceutical packaging market growth. In the absence of effective system and regulations, the market of counterfeit drugs and other medical supplies has been increased. Also, semi-legal copying of branded drugs by legitimate local companies would remain a high-profile problem. All these factors will create an impact on the growth of the anti-counterfeit pharmaceutical packaging in the coming years.

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Approach towards Electronic Track and Trace to Secure the Supply of Drugs

For secure supply of drugs from manufacturers to end users, one of the key requirements is the ability to trace, validate, and verify the authenticity of the drug at each and every stage of the supply chain. It is expected to boost the demand for anti-counterfeit pharmaceutical packaging in the near future. In electronic track and trace technology, each unit is serialized and allows building the drug pedigree.

These pedigrees include information about manufacturers, distributors, and wholesalers who handles the drug. This helps in tracing the product at any stage and reduces counterfeiting, which stimulates the anti-counterfeit pharmaceutical packaging market growth.

Increased Number of Self-prescribed Patients Opting for Less Expensive Pharma Products

~ 5% of the U.S adults are using medication without any professional prescription. Increase in number of self-prescribed patients is hampering the anti-counterfeit pharmaceutical packaging market. Sometimes, end users of pharma products opt for counterfeit products, as they are less expensive compared to the original medications. This perception of patients is restraining the anti-counterfeit pharmaceutical packaging market growth.

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Global Anti-Counterfeit Pharmaceutical Packaging Market: Competitive Landscape

Anti-counterfeit pharmaceutical packaging manufacturers have taken steps to tackle the menace of counterfeited medicines through innovative packaging techniques, which is still in the infancy stage but future looks promising. Advancement in technology is expected to spur the demand for anti-counterfeit pharmaceutical packaging products. Large pharmaceutical companies such as Pfizer and GlaxoSmithKline have introduced RFID tags on the packaging of Viagra and Trizivir, an HIV treatment product, which is driving the anti-counterfeit pharmaceutical packaging market growth.

Some of the key players in the global anti-counterfeit pharmaceutical packaging market are Alien Technology, ATL Security Label Systems, CCL Industries, SICPA Holdings, Schott AG, Gerresheimer AG, Klockner Pentaplast Group, Ardagh Group S.A., Nipro Corporation, Authentix Inc., TruTag Technologies, Inc., Zebra Technologies Corporation, Alpvision SA, OpSec Security Inc., Savi Technology Inc., 3M, and Stevanato Group.

This study underlines key opportunities in the anti-counterfeit pharmaceutical packaging market and finds that the market would exhibit growth at a CAGR of ~ 9% during the forecast period. For in-depth information anti-counterfeit pharmaceutical packaging market, write in to the analyst at press@futuremarketinsights.com

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Dietary Supplements Market 2022 Outlook, Current and Future Industry Landscape Analysis 2031

As per FMI’s analysis, the global dietary supplement market is poised to expand at above 9% CAGR to surpass a valuation of approx. US$ 254 billion by 2031. Younger demographic of consumers is exhibiting high demand for dietary supplements in the form of soft gels/pills.

Growing concerns about maintaining a healthy lifestyle while increasing modernization across the globe are the key factors driving the consumption of vitamins & minerals as dietary supplements across the globe.

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Alongside this, growing incidence lifestyle disease among geriatric population and increasing auto-immune diseases such as asthma and diabetes are bolstering the growth of dietary supplements market.

Consumers’ growing need to include various vitamins & nutrients in their daily diets is commonly being combined with their need for the convenience in their dietary habits.

Thus, online retail pharmaceutical companies are contributing towards increasing the adoption of dietary supplements. Hence, dietary supplements market is anticipated to witness a staggering growth over the coming years.

However, factors such as negative publicity, use of adultered ingredients that have potential for substance abuse, and false product claims are likely to impede the growth of dietary supplements during the forecast period.

Key Takeaways from FMI’s Dietary Supplements Market Study

By form type, soft gel/pills are anticipated to emerge as lucrative segment through 2021
Increasing application in sports nutrition will stimulate dietary supplements sales
Rising prevalence of obesity and other lifestyle across the U.S. will improve the consumption of dietary supplements, spurring sales
Increasing cases of malnutrition among pediatric population will spur the sales of dietary supplements across India
Japan is expected to register a stellar growth on the back of growing cardiovascular disease among geriatric population
Countries such as Spain, the U.K., France, and Germany will witness an impressive growth backed by the rising vitamin D deficiency through 2021

“Growing health conscious population across the globe and increasing focus on innovating flavor and texture of dietary supplements will widen the growth opportunities for the market during the forecast period,” says the FMI analyst.

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Competitive Landscape

Herblife International, BASF SE, E. I. Du Pont de Nemours and Company, Glanbia Plc, Royal DSM N.V., Abbott Laboratories, Amway Enterprises, NBTY Inc., Bayer AG, and GlaxoSmithKline Limited are some prominent players operating in the dietary supplements market.

Increasing focus on product innovation to broaden their product portfolios will provide lucrative opportunities for the market players. Also, with strategic collaborations and early regulatory approvals leading players are expanding their global reach to maintain their position in the industry.

Furthermore, unauthorized use of ingredients and substances potential for abuse used in the manufacturing of dietary supplements might act as a restraint for the market growth.

For instance, the U.S. Food and Drug Administration (FDA), on May 21, 2021 announced that they seized more than 207,000 units of dietary supplements that contain kratom, including over 34,000 kilograms of bulk kratom, an adultered dietary supplement ingredient, manufactured by Atofil LLC, subsidiary of premium manufacturing products.

In October 2020, leading player Abbott Laboratories, announced the launch of strawberry-flavored food supplements in India to expand their product portfolio.

More Insights on the Global Dietary Supplements Market

In its latest report, FMI offers an unbiased analysis of the global dietary supplements market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of form (soft gel/pills, powder and liquid), ingredient (vitamins & minerals, amino acids, botanical supplements, and others), application (weight loss, sports nutrition, general wellbeing, immune & digestive health, bone & joint health, heart health and others), distribution channel (pharmacies/drugstore, health & beauty stores, hypermarket/supermarket, internet, and direct selling), and end-use (men, women, senior citizens, and others) across seven major regions (North America, Latin America, Europe, East Asia, South Asia Pacific and Middle East & Africa)

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Containers for Drugs’ New Mantra for Manufacturers of Parenteral Packaging Products; Plastic to Make Way for Glass as the Most Preferred Packaging Material: FMI

Manufacturers of parenteral packaging products are moving away from the ‘drugs for container’ concept and are focusing on providing ‘containers for drugs’ – implying the adoption of appropriate materials to manufacture parenteral containers.

The 3P’s driving the global parenteral packaging market are Product, Process, and Patient, and given the increasing focus on sustainability and green initiatives, plastic is slowly being eliminated from the parenteral packaging ecosystem.

Companies are shifting towards prefilled and ready-to-use containers and this is expected to augment the usability of parenteral products in self-medication.

As such, the global market for parenteral packaging is set to witness significant growth in the next 10 years, as estimated in a study by Future Market Insights. According to a report released by the leading market research firm, the global parenteral packaging market is set to exceed US$ 11460 Mn by the end of 2021.

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Exhibiting a growth rate of 5.5% in the coming decade, revenue from the sales of parenteral packaging products is slated to experience around 6% year-on-year growth rate in 2021. Sustainability is the buzzword here – manufacturers are steadfast in their focus on addressing environmental concerns; which probably explains the near-death of plastic as a preferred material for parenteral packaging, owing to environmental issues associated with the disposal of plastic parenteral packaging products.

Innovation to Take Centre Stage in the Manufacturing of Parenteral Packaging Products; Automation to Underpin Core Production Processes

With technology having seeped through the global industry fabric, the market for parenteral packaging products is witnessing a new era of advanced processing techniques powered by automation in the packaging industry.

Advanced automation in manufacturing processes has brought in notable modifications pertaining to the provision of drugs to patients, and this integration of automation into core manufacturing systems is trending the global parenteral packaging market.

Manufacturers are also focusing on deploying high quality, contamination free processes to assemble parenteral packaging containers. These processes seek to eliminate incidences of reactions between the material used to manufacture the containers and the actual content (drugs) of the containers, thereby preventing harmful effects on patients consuming the drugs.

Several product recalls in the past have forced manufacturers of parenteral packaging products to select the best material to manufacture containers, and this factor is acting in favour of revenue growth of the global parenteral packaging market.

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Ready-to-Fill Formats and Automated Assembly Lines Trending the Global Parenteral Packaging Market

On the back of sustainability drives by global governments, manufacturers of parenteral packaging products are changing their operations by integrating automated systems in their assembly lines.

A strategic shift from manual to automatic packing lines is bringing in enhanced process efficiency and reducing dependency on manual labour, thereby creating pathways for cost-effectiveness in the long run. Further, the rapidly rising demand for prefilled syringes is benefitting the global parenteral packaging market.

Specific requirements from the healthcare industry for speciality packaging products such as IV pre-mixed systems and single-use vials is also expected to bolster revenue generation in the global market for parenteral packaging in the coming years.

Newer Raw Material Options to Create Increased Growth Opportunities for Manufacturers of Parenteral Packaging Products

Over the years, conventional raw materials used to manufacture parenteral packaging products have witnessed several advancements. Add to this the introduction of newer types of material to manufacture parenteral packaging containers, and the global market is suddenly a hotbed of opportunities for manufacturers.

The global parenteral packaging market is witnessing strategic collaboration between manufacturers and suppliers for both the sourcing of appropriate raw materials and the final packaging formats.

For instance, polymers such as cyclic olefin polymers (COP) and cyclic olefin copolymers (COC) are being sought after in large numbers, owing to their inherent advantages over conventional plastic and glass used to manufacture parenteral packaging containers.

The introduction of better raw material types supports increased sophistication in drug delivery technologies, thereby helping manufacturers up their revenue standing in the global market. Needless to say, this is positively impacting revenue growth of the global parenteral packaging market.

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Apparel and Apparel Segment Consistent Demand Will Drive Hang Tag Sales: FMI

Hang tags are a very popular label/tag solution that are often used or attached with items to display item information. Using hang tags is also considered a way to brand items with an attractive look. Currently, hang tags are not limited to apparel and apparel, but have extended their application to several industries such as food, lodging and travel, beauty and personal care. According to a study by Future Market Insights (FMI), this will enable sales in the hang tag market . The market is expected to reach a value of US$1.7 billion by 2021.

In terms of availability, there are many different types of hang tags made of paper, cloth and plastic. Among them, paper hang tags are quite in demand. As millennials’ buying patterns shift from in-store shopping to online shopping, apparel and apparel sales have grown significantly, which will be one of the key drivers of the hang tag market. Growing demand in apparel and apparel sector will continue to drive growth. By 2021, it is expected to account for more than 60% of market revenue.

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Key Highlights of Hang Tags Market

After a sluggish sales period, the hang tags market will register a CAGR of 5.2% between 2021 and 2031.
The United States will remain the major hangtag market, accounting for over 80% of North American sales.
Expansion of the beauty and personal care industry will help the UK grow.
Presence of growing textile industry will drive the Indian market for hang tags
Growing demand from food and beverage sector to support growth in China

“Incorporating an eye-catching print on a hang tag combined with a smooth finish makes it an excellent brand communicator with your target audience. The emergence of hang tags as an effective medium of interaction between merchandise and customers has increased their popularity among brand owners. This popularity of hang tags among brand owners has turned into a lucrative opportunity for hang tag manufacturers,” says an FMI analyst.

Print hang tags to enhance your product’s brand image

Leading players in the small food and beverage, beauty and personal care, apparel and apparel industries around the world prefer label solutions such as hang tags, loop tags and swing tags to promote their brands and attract end-user customers. Printing accurate product information on hang tags allows brand owners to differentiate their products from those of competitors already on the market.

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Hang tags can be printed with multiple printing options such as flexo printing, direct thermal and thermal transfer and other requirements. These custom printing options allow you to print any kind of print, starting with barcodes, on hang tags, tracking your products with different forms of information depending on your customer’s needs. The print quality of hang tags plays a pivotal role in the aesthetic appearance and finish of hang tags. This hang tag printing improves the overall look of the hang tag and makes it look more attractive, and also wins consumer interest in the product.

The availability of these advanced printing options provides multiple opportunities for hang tag manufacturers to design and manufacture more attractive and prominent hang tags to attract most of their customers in the market.

Impact of COVID-19 on Hang Tags Market

The global wave of the COVID-19 pandemic has had a modest impact on hang tag sales in the market. A significant portion of the demand for hang tags is derived from the Apparel & Apparel, Hospitality & Travel, and Food & Beverage sectors. Strict closures in several regions, including North America, Europe and Asia, have had a negative impact on these industries on both supply and demand side.

Hangtags market growth has been stagnant during the COVID-19 period as demand creation for hang tags in these industries has decreased. Additionally, a second wave of pandemics in some countries will cause manufacturers, including hang tag producers, to stop producing, further limiting hang tag sales for a certain period of time. Nevertheless, factors such as the recovery of the outbreak and the supply and demand of modified raw materials for production plants are estimated to drive hangtag sales in late 2021.

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Who is the winner?

CCL Industries Inc, Sato Holdings Corporation, and Nilorn Group are the top players operating in the hang tags market. Also, St. Louis Tag Company, Bornemann-Etiketten GmbH, WunderLabel Company, Dortex Werbung und Vertrieb mbH, Finotex USA Corporation and Pacific Coast Bach Label Inc are also prominent players in the hang tag market. Tier 3 players of the market hold 80-85% of the global hang tags market. In conclusion, the major players contribute almost 15-20% of the global market.

Hang Tags Market Report

Future Market Insights provides an unbiased analysis of the global Hang Tags market by analyzing historical demand from 2015-2020 and forecast statistics from 2021-2031 in a new report. This study covers material types (paper, plastics and fabrics), tag types (hang tags/swing tags and loop tags), printing technologies (direct thermal, thermal transfer, flexographic printing, offset and screen printing, laser printing) and end uses ( Apparel & Apparel, Food & Beverage, Hospitality & Travel, Beauty & Personal Care, Consumer Electronics & More) span seven regions.

About Future Market Insights Packaging

FMI’s Packaging Division provides in-depth historical analysis and detailed forecasts of the global packaging market. From packaging materials to designs and formats, FMI has an exhaustive market research database, providing unique offers and strategic recommendations to its clients. With a repository of more than 750 reports, the team comprehensively analyzed the packaging industry in more than 70 countries. The team evaluates every node in the value chain and provides end-to-end research and consulting services. Contact us to find out how we can help

Demand for Thermal Insulation Packaging to Rise at 18.3% CAGR in Pharmaceutical Industry: New Study

Rising applications within the pharmaceutical sector is a chief driver of the thermal insulation packaging market. In a new study, Future Market Insights (FMI) has predicted the market to reach a valuation of US$ 58.37 Bn in 2021. Within the pharmaceutical industry products are often shipped across the globe.

Pharmaceutical logistics is a complex web of local, regional and international chain that requires multiple modes of transportation. Air and ground have been the most preferred modes of transportation, however sea freight is also gaining traction nowadays.

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Specialized production of pharmaceuticals and high value ingredients used for production of medicines mean that the products need to move faster and at a larger scale through multiple climatic zones. Rapid expansion of emerging markets demands new or more efficient shipping lanes. The emergence of new markets have led to the challenge of distribution of temperature sensitive pharmaceuticals to a wide geographical reach.

Shipping of temperature sensitive pharmaceutical products requires protection from improper handling, undesired weather, and any other unpredictable factors all while ensuring a constant temperature range. This is anticipated to drive adoption of thermal insulation packaging within the industry.

Besides this, demand from food and beverages sector is set to rise significantly, giving impetus to the market between 2020 and 2030. FMI has projected the food and beverages sector to remain dominant through the forecast period, however, the pharmaceuticals sector is likely to exhibit growth at a higher rate.

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Key Takeaways of Thermal Insulation Packaging Market Study

Thermal insulation packaging is forecast to register high near-term growth. According to FMI, the market will rise at 17.3% CAGR over the assessment period
Demand from the U.S. will remain crucial to growth registered, as it is expected to account for dominant 86.6% of the North America market in 2021
Within Europe, the U.K. will continue exhibiting high demand, registering above 18% Y-o-Y growth in 2021
France and Germany will emerge as other key markets for thermal insulation packaging, with demand in both countries increasing at a robust pace through 2030
Japan, South Korea, and China will emerge as strong markets for thermal insulation packaging. Of these, China will remain dominant in East Asia through assessment period

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“Pharmaceutical industry is witnessing a massive shift from chemically derived products towards biologics and biosimilars. It is anticipated that new drugs to be launched in the market in the next five to ten years will be highly sensitive biologics or biosimilars. Sophisticated drugs will create and expand cold chain challenges, which is likely to create opportunity for thermal insulation packaging market.” says an FMI analyst.

Thermal Insulation Packaging Necessary to Maintain the Integrity of Perishable Food Products

The thermal insulation packaging system is necessary for maintaining the integrity of the perishable food products. Seafood is in high demand since past few years due to its nutritional benefits and changing dietary habits of consumers. Seafood’s quality is utmost high when it is caught, however over time the quality and freshness of the food product degrade.

This decays the natural goodness, vitamins and minerals of the food product making it unfit for consumption. From the regulatory aspect, fresh seafood should be stored at 0°C and frozen seafood should be stored at –18°C or lesser throughout the cold chain.

Small gaps or fluctuations in the temperature range can cause quality degradation or spoilage to the food product. Food wastage is loss of natural seafood resource and harvesting cost. Global trade of perishable food products has grown rapidly in the last decade. This has significantly boosted demand for refrigerators, freezers, insulated containers and shippers.

Impact of COVID-19 on Thermal Insulation Packaging Market

Demand for thermal insulation packaging is anticipated to grow due to the COVID 19 pandemic. The global battle to fight against the virus has raised the need for crucial pharmaceuticals to be shipped around the world at a large scale and unprecedented speed.

Right from antigen testing to antibody testing to vaccines and medicines to treat the symptoms of the virus, everything creates demand for pharmaceutical logistics for temperature sensitive products.

Insulated shippers, pouches and boxes have been in high demand to ship the products across the world. Further, COVID-19 vaccines being on the horizon ready for mass distribution provides lucrative opportunities for the thermal insulation packaging market to grow exponentially.

Who is Winning?

Emball’ISO, Sonoco ThermoSafe, Pelican Products, Inc., Cold Chain Technologies, Inc., Sofrigam SAS, CSafe Global, LLC, Insulated Products Corporation, Cryopak Industries Inc., Snyder Industries, Inc., va-Q-tec AG, Inmark LLC, DGP Intelsius Ltd.,

Softbox Systems Ltd., Envirotainer Ab, Aeris Dynamics Pte Ltd, Global Cold Chain Solutions, Thermo Fisher Scientific, Inc, Helmer Scientific Inc., Global Cooling, Inc., PHC Holdings Corporation, BINDER GmbH, Esco Micro Pte Ltd., Labcold Ltd, ARCTIKO A/S, Eppendorf AG, So-Low Environmental Equipment Co.,

Azbil Corporation, Haier Biomedical Co. Ltd, Philipp Kirsch GmbH, EVERmed s.r.l and The Sure Chill Company Limited are prominent players in the thermal insulation packaging market. The thermal insulation packaging market is fragmented and the Tier 1 players in the market hold 20-25% share in the global thermal insulation packaging market.

Asphalt Shingles Market are expected to reach nearly US$ 10,000 Mn in revenues by 2022-end

A latest report by Future Market Insights (FMI) has projected the global market to register a low-single digit CAGR throughout the forecast period 2017 to 2022. However, the market is anticipated to experience a sustained expansion on the back of increasing re-roofing and new construction activities resulting from extreme weather conditions. Global sales of asphalt shingles are expected to reach nearly US$ 10,000 Mn in revenues by 2022-end.

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Extreme Weather Conditions Owing to Global Warming to Fuel Adoption of Asphalt Shingles

Global warming is now being called as climate change, and has been affecting subtropical regions to experience extreme cold weathers and even witness snowfall at times during winters. As some of these regions fall under developing or underdeveloped economies, cost of roofing activities becomes a major concern for the population thriving here. A wide variety of roofing materials are available across the globe based on performance, structural, economic, and aesthetic requirements. These include cedar shake, slate, clay tiles and metal. However, asphalt shingles provide enough aesthetic appeal, along with adequate protection at just a small fraction of the amount invested for other roofing materials. Moreover, asphalt shingles are cost-effective and are able to easily get replaced when damaged. Demand for asphalt shingles will therefore gain traction, with spending on residential building construction expected to witness a surge in the near future.

Fiberglass to Remain Most Attractive Composition of Asphalt Shingles

Fiberglass and organic are two composition types of asphalt shingles available in the global market. While organic asphalt shingles are comparatively more durable than fiberglass, they are more flammable, therefore highly prone to fire. In addition, they are less eco-friendly owing to relatively higher asphalt content. Fiberglass shingles provide excellent fire resistance, making them to gradually replace the organic shingles for roofing activities. Fiberglass is expected to remain the most attractive composition of asphalt shingles, with sales estimated to account for approximately US$ 8,000 Mn by 2022-end.

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Account for over three-fourth revenue share of the market, re-roofing end market segment is expected to dominate the global asphalt shingles market during 2017 to 2022. However, this end-market segment is projected to register a low CAGR through 2022. On the other hand, sales of asphalt shingles in new construction end-market segment are expected to register a relatively higher CAGR through 2022.

Laminates to Remain Sought-After among Products in the Market

Laminates asphalt shingles are expected to remain sought-after among products in the market, and their sales are projected to hold over half revenue share of the market. High demand for laminates asphalt shingles can be highly attributed to increased attraction towards roofing materials with high wind resistance, impact resistance, and protection from degradation owing to exposure to elements. In addition, sales of strip asphalt shingles are expected to exhibit the highest CAGR in the market through 2022, based on product type.

Although North America is anticipated to remain the largest market for asphalt shingles, Asia-Pacific excluding Japan (APEJ) is projected to register a relatively faster expansion through 2022. Middle East & Africa (MEA) and Japan are expected to remain the least lucrative markets for asphalt shingles over the forecast period.

Manufacturers Shifting Focus toward Enhancing their Brand Reputation

Leading manufacturers of asphalt shingles are focusing their shift toward enhancing their brand reputation by offering wide range of products, and higher quality standards as compared to other competitors in the market. Key players in the market are adopting business strategies to come up with advanced & sophisticated product development techniques. They are also concentrating on development of an established manufacturing process, and in-depth understanding of market and customers. Key market players listed in FMI’s report Include Atlas Roofing Corporation, Polyglass U.S.A., Inc., Tarco, Inc., TAMKO Building Products, Inc., Siplast, Inc., IKO Industries, Ltd., Malarkey Roofing Products, Henry Company LLC, Certain Teed Corporation, and Owens Corning.

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About Chemicals & Materials division of FMI

The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.

About Future Market Insights (FMI)

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

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Acid Proof Lining Market is assessed to grow at a steady CAGR of 5.1%

With quality workmanship and proper installation, processing vessels, pipeline or floorings surface-coated with acid proof linings can prevent incidence of industrial failures caused from corrosive damages. A recent study published by Future Market Insights forecasts a steady growth in demand for acid proof linings for the next five years. During the forecast period, 2017-2022, the global market for acid proof linings is assessed to grow at a steady CAGR of 5.1%.

Durability of acid proof linings will continue to boost their demand across multiple industrial vectors in the near future. End-users are adopting proper maintenance programs to ensure these linings continue to withstand changing severities of external factors such as heat, fire, temperature change, and mechanical shocks. By the end of 2022, the global acid proof lining market is poised to reach a value of US$ 5.57 Bn.

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Thermoplastic Linings will bring in US$ 2.7 Bn in global revenues by 2017-end

Manufacturers of acid proof linings are shifting towards adoption of thermoplastics as these raw materials are easy to shape and can be moulded into all shapes upon application. Likewise, thermoplastic linings can be installed on a variety of surfaces, including metal. Unlike other products available in the global acid proof lining market, these liners hold unique resistivity, one which can endure high temperatures, drastic thermal fluctuations, and mechanical stress. In 2017, the sales of thermoplastic linings is anticipated to rake approx. US$ 2.7 Bn in global revenues.

Changing dynamics of acid proof lining manufacturing

With increasing demand for thermoplastic linings, manufacturers are likely to adopt innovative techniques to facilitate large scale production. Strict emission norms play a governing role on the manufacturing purview of acid proof linings. Solvent-borne form of acid proof linings continue to face the brunt of stringent industrial regulations that constrain the production of chemicals with high VOC emissions. Waterborne acid proof linings, on the other hand, will witness a considerable uptick in adoption owing to their eco-friendly characteristics. Between 2017 and 2022, waterborne acid proof linings sold across the globe will create an absolute dollar opportunity of close to US$ 590 Mn.

Companies namely, Polycorp Ltd., Koch Knight LLC, Jotun A/S, Steuler-KCH GmbH, Axalta Coating Systems Ltd., Hempel A/S, The Sherwin-Williams Company, Ashland Global Holdings Inc., BASF Coatings GmbH, and PPG Industries, Inc. are anticipated to remain active in the global acid proof lining market through 2022. These companies will be focusing on adoption and development of new technologies, which may give rise to innovative lining materials. Strong chemicals used in production of acid proof linings will also keep these players under the close radar of environmental agencies strictly monitoring the contribution of such manufacturers to global industrial waste volumes.

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Additional insights on future of acid proof lining market

The report also forecasts that,

During the forecast period, Asia-Pacific excluding Japan (APEJ) region will remain the largest market, and will reach US$ 2 Bn valuation by 2022-end, primarily due to higher contribution in global production of acid proof linings
Europe’s acid proof lining market will expand at a moderate CAGR during this period
Middle East & Africa and North America will record similar and steady growth rates over the forecast period, and will be observed lucrative for sales of acid proof linings
Oil & gas industry will be the most crucial end-user for acid proof linings, revenues from which are expected to touch US$ 800 Mn by the end of forecast period

Queries regarding these research findings can be addressed to Future Market Insights’ analysts at press@futuremarketinsights.com

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Friction Modifier Additives Market is expected to expand at a CAGR of 4.0% in order to reach US$ 1,888.3 Mn by the end of 2027

Future Market Insights’ newly published market report, “Friction Modifier Additives Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027,” examines the Friction Modifier Additives Market and provides a revised forecast of the global market for the 10 year period 2017 – 2027. According to the report, the MoDTC inorganic product type segment is expected to dominate the market accounting for over 45% share in overall market value by 2027 end, thereby registering a CAGR of 4.2% during the forecast period (2017 – 2027). The estimated value of the global Friction Modifier Additives Market in 2017 is US$ 1,278.9 Mn and is expected to expand at a CAGR of 4.0% in order to reach US$ 1,888.3 Mn by the end of 2027.

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Global Friction Modifier Additives Market: Dynamics

The global Friction Modifier Additives Market is estimated to be driven by rising Organic friction modifier (OFMs) additives as they are mostly preferred for the lubrication of automotive engines. OFMs and zinc dialkyldithiophosphates (ZDDPs) anti wear additives react competitively on rubbing ferrous substrates in a tribological contact. By carefully understanding the chemistry of OFMs, formulators of additives can achieve application specific lubricants that form ZDDP anti wear films of optimum thickness and friction, thereby delivering end users required optimised lubricity, durability and environmental acceptability of the formulation, thereby paving the way of growth of the Friction Modifier Additives Market.

Global Friction Modifier Additives Market: Forecast

On the basis of inorganic segment, the MoDTC segment is anticipated to play a crucial role in building market revenue. The MoDTC segment is estimated to lead the overall Friction Modifier Additives Market accounting for an estimated share of almost 46% in the global Friction Modifier Additives Market value in 2017, by Inorganic Product type. The segment is expected to register a CAGR of 3.8% within the forecast period. Also, Automotive Lubricants segment by application is expected to witness rising growth in revenue during the forecast period. As per the forecast this segment is slated to account for more than 45% share in overall market value by the end of the forecast period. This is largely due to a growing use of vehicles.

On the basis of region, Asia Pacific excluding Japan (APEJ) is anticipated to dominate the global Friction Modifier Additives Market throughout the forecast period. This regional market is expected to expand at a CAGR of 3.9% during the forecast period. The market in the Western Europe region is anticipated to register a CAGR of 4.4% during forecast period. These two regions are expected to register relatively faster growth during the period of assessment.

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Global Friction Modifier Additives Market: Competitive Landscape

Some of the players reported in this study on the global Friction Modifier Additives Market are BRB International, Kings Industries Inc, Croda International, BASF SE, CSW Industrials, Chevron Corp, The Lubrizol Company, Dorf ketal, DOG Chemie, Afton Chemicals, LANXESS among others. Industry players, over the recent past, have been channelising efforts towards innovative product development. Moreover, expansion and acquisitions strategies adopted by Friction Modifiers Additives manufacturers to improve sales & distribution network and enhance their operational efficiencies are expected to continue over the forecast period.

For more insights into the frictionmodifier additives market, please write in to Future Market Insights analysts at press@futuremarketinsights.com

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