Market Research Blog

PET Containers Market: Significance

PET containers are one of the economical packaging solutions for packaging of carbonated soft drinks, bottled water, edible oil, and other personal care & household products among its counterparts. Burgeoning consumption of the ready-to-consume products has propelled the demand for PET containers in the market. The key technologies used for the manufacturing of PET containers are stretch blow molding and injection blow molding.

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PET Containers Market: Evolution

PET containers were first introduced in the market during the 1960s. Initially, PET containers were costly, and were single use containers only. However, PET containers market gained traction due to subsequent knowledge regarding their features and benefits over their counterparts such as glass and metal containers. Costs swiftly dropped as the containers became widely used which led the PET containers market to grow at a fast pace, and now became the most preferred choice of packaging manufacturers. PET containers are widely adopted for packaging of several products such as beverages, chemical & petrochemicals, pharmaceutical, household & personal care products etc.

PET Containers Market – Dynamics

Drivers:

The reason for high preference for PET containers is due to the several benefits offered by them, which includes features such as light weight, recyclable, sustainable etc. Consumer preference is towards cost-effective packaging solutions along with convenient and environmental friendly products.

Trends:

Massive shift in preference from glass containers to PET containers

• In May 2010, Marks & Spencer made a large scale transition from glass to PET bottles for packaging of wine to meet consumer demands without affecting the environment.
• SunPat peanut butter, switched its butter packaging to PET packaging. Premium packaging manufacturers are also switching from glass packaging to PET packaging.

Restraints:

Despite the positive outlook, there are some factors that might hamper the growth of PET containers market. Widespread environmental concerns over the use of plastic bottles has slightly impacted the demand for PET bottles in most of the countries. Plastics take too much time to breakdown and do not biodegrade in landfills easily. Further, containers that contain hazardous materials might cause pollution if are not disposed of, properly.

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Comparison between HDPE and PET

The PET bottles are mostly used in beverage packaging due to several features such as no harm to the content, convenient, and content visibility.

PET Containers: Production Process

PET Containers Market – Regional Outlook

Geographically, the global market for PET containers is divided into seven key regions – North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East & Africa (MEA), and Japan.

PET Containers Market – Key Players

• Amcor Ltd.
• Aaron Packaging Inc.
• Sonoco Products Company
• Berry Global Inc.
• Alpha Packaging Inc.
• Gerresheimer AG
• GTX HANEX Plastic Sp. z o.o.
• Koksan AS
• Graham Packaging Company
• Indorama Ventures Public Co., Ltd.
• Mpact Limited
• Taiwan Hon Chuan Enterprises Co., Ltd.
• PDG Plastiques
• Esterform Packaging Limited
• ALPLA Werke Alwin Lehner GmbH & Co KG
• Resilux NV
• RETAL Industries Ltd.
• C&G Packaging

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Research Methodology:

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

The report covers exhaust analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Cartons sealed with gummed tape degrade at a much slower rate on variation in temperature, and perform better in humid environments and under very low temperature in comparison with regular pressure-sensitive tapes. Besides, the prolonged use of tape guns for sealing cartons has an adverse effect on the wrists of workers, reducing overall productivity. In contrast, gummed tape can be cut easily to obtain the desired length with the use of tape dispensers.

On the back of these factors, the global gummed tapes market is expected to exhibit a steady CAGR of 6.2% over 2019-2029, and is estimated to reach US$ 1.9 Bn by 2029.

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Key Takeaways of Gummed Tapes Market Study

• The reinforced gummed tapes segment is expected to create substantial incremental revenue opportunity over 2019-2029, as these consist of fibers that provide additional mechanical strength such as high durability and abrasion resistance, and improve the tear-resistance of gummed tapes.
• Brown gummed tapes are expected to hold a major share of the gummed tapes market.
• Starch adhesive-based gummed tapes are expected to gain significant traction, attributable to the use of eco-friendly material such as potato starch and paper in these tapes. Starch-based gummed tapes provide effective bonding with packaging material.
• Gummed tapes are primarily used for box and carton sealing applications, as they offer strong adhesion and air-tight sealing.
• Expansion of shipping & logistics industries is expected to offer significant growth opportunities to players in the gummed tapes market during the forecast period. Increasing demand for tamper-evident packaging solutions during transportation is expected to boost the sales of gummed tapes.
• Europe is dominating the global gummed tapes market. Asia Pacific countries such as China, India, and Japan are anticipated to gain substantial market share over the decade, on the back of the high production of gummed tapes and low raw material prices in China.

“Key players operating in the global gummed tapes market can gain significant profits by focusing on enhancing their market presence in untapped markets and developing countries such as China and India, attributable to increasing industrialization and cross border trade in these countries.”

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Gummed Tapes Market Landscape                                                                      

The gummed tapes market is highly competitive, and substantial growth is expected in next decade, attributable to the increasing adoption of tapes with environment-friendly material and excellent adhesion properties over other alternatives such as pressure-sensitive tapes and BOPP tapes.

Some of the leading manufacturers in the gummed tapes market are 3M Company, Intertape Polymer Group. Inc, Shurtape Technologies, LLC, Loytape Industries SDN.BHD., Holland Manufacturing Co. Inc., Papertec, Inc., LPS Industries, LLC, Windmill Tapes & Labels Ltd., Neubronner GmbH & Co., Can-Do National Tape, etc. FMI has identified 3M Company as a tier-I company. Product innovation and acquisition are the key strategies of this company. Tier-II companies include Polymer Group. Inc, Shurtape Technologies, LLC, and Loytape Industries SDN.BHD. Key players in the gummed tapes market are focusing on increasing their footprint in developing countries.

• In 2018, 3M Company invested more than 5% of its revenue on research & development to enhance product quality and product offerings.
• Intertape Polymer Group Inc. acquired Canadian Technical Tapes Ltd., a manufacturer of packaging tapes, in early 2018.

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FREQUENTLY ASKED QUESTIONS ABOUT GLOBAL GUMMED TAPES MARKET

What is the current and future market status of gummed tapes?

The global gummed tapes market is projected to witness significant growth in the foreseeable future, owing to their numerous applications in key end-use industries, and is expected to expand 1.8X its current market value by the end of 2029.

Why are gummed tapes gaining traction?

Gummed tapes are manufactured from natural adhesives such as paper and potato starch, which increases adhesive bonding when activated by water. The backing material used for making gummed tapes – reinforced fiber – offers tear-resistance, which makes them tamper-proof. Additionally, gummed tapes are sustainable for cold and hot environmental conditions.

Which end-use industries hold potential growth opportunities for manufacturers?

The demand for gummed tapes is consistently increasing from shipping and logistics industries, as these tapes offer high adhesive strength for corrugated box packaging and damage-free transportation of products. As per FMI analysis, shipping and logistics industries account for a majority of the market share in 2019, and are expected to maintain their dominance by the end of 2029. Building & construction, electrical & electronics, and automotive industries are also expected to offer substantial prospects for players in the gummed tapes market.

 About Gummed Tapes Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global gummed tapes market, analyzing historical demand from 2014-2018 and forecast statistics for 2019-2029. The study offers growth projections on the gummed tapes market on the basis of backing material (paper gummed tape and reinforced gummed tape), product type (white gummed tapes and brown gummed tapes), adhesive type (starch adhesives and other adhesives), application (box & carton sealing, splicing, and others}, and end use (shipping & logistics, building & construction, food & beverages, automotive, metalworking, electrical & electronics

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The global manual resuscitator market is set to surpass a valuation of USD 500 million by 2030, according to a research by ESOMAR-certified firm Future Market Insights (FMI). In a new study on the market, the

The pharmaceutical packaging market is  registering an increasing demand for anti-counterfeiting solutions and child protective packaging. In the pharmaceutical industry, counterfeiting has emerged as a major concern for manufacturers and consumers.

Given this,  anti-counterfeiting technologies such as barcodes,  labels and tags are attracting attention among manufacturers. According to a recent report by Future Market Insights (FMI), driven by technological advancements,  pharmaceutical plastic bottle  sales will grow at a CAGR of 10.3% between 2021 and 2031. The market is expected to reach a value of over $79 billion in 2031.

The increasing number of cases of child poisoning due to accidental ingestion of pharmaceuticals has helped introduce child-resistant packaging solutions. These products are typically available in two-piece push-and-turn technology for bottle closures.

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Currently, most promising drugs are available in children’s packaging, which has a major impact on sales of pharmaceutical plastic bottles. There is a constant need for innovation among industry players to sustain itself in an extremely competitive market.

For example,  the introduction of RFID to replace traditional barcodes  aims to increase the convenience of tracking and tracking products. QR codes are the newest addition to the pharmaceutical bottle industry, where they are used for multiple purposes, such as displaying detailed product information, tracking products through the supply chain, or as a means of maintaining logs in pharmacies.

Innovations that increase the utilization of recycled materials are also accelerating in the market. These innovations and technological advances are contributing to progress.

For example, in January 2020, Gerresheimer AG  announced that it would provide customized rigid plastic packaging solutions, including pharmaceutical plastic bottles made from BIO-PET and  R-PET .

Key highlights of the Pharmaceutical Plastic Bottles Market study:

• Demand for plastic bottles for ophthalmic/nasal formulations will increase to 12.7% during 2021-2031, driven by increased application of corticosteroid drugs.
• Polyethylene terephthalate (PET)  is expected to account for a dominant share of 30.8% in 2031 as a result of regulations and restrictions on the use of plastics.
• Bottles with a capacity of less than 100ml are projected to increase the opportunity to $28.1 billion over the next five years.
• The US will account for more than 82% of the North American market in 2021. However, the country is likely to lose its share of value to active Canadian industries by the end of 2031.
• China and India will remain lucrative markets due to their large patient populations and investments from the local pharmaceutical industry.

“Pharmaceutical plastic bottles are a relatively economical, lightweight and convenient packaging solution compared to pharmaceutical glass bottles. These products are gaining popularity among manufacturers and consumers. Consumers often choose plastic bottles to avoid the risk of breakage. These factors are expected to drive demand through 2031,” said an FMI analyst.

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Impact of COVID-19 on Pharmaceutical Plastic Bottle Market

The ongoing COVID-19 pandemic has had a negative impact on the packaging industry. Any losses incurred may be due to logistical restrictions and worldwide imposed closures.

Production output has declined due to reduced production capacity and delayed supplies of raw materials. Manufacturers in the pharmaceutical plastic bottle industry have struggled to meet the sudden increasing demand in the market.

With continued easing and unlocking of transport restrictions, the market is expected to grow steadily through 2021 and beyond.

Who is the winner?

Tier 3 players in the pharmaceutical plastic bottle market account for 75-85% of the overall value share. The major players contribute 15-25% of the global market. Strategies related to capacity expansion and investment in product development will gain attention from the industry.

Berry Global Inc.  , Amcor Plc,  ALPLA Werke Alwin Lehner GmbH & Co KG  is a leading player operating in the pharmaceutical plastic bottle market. Additionally, AptarGroup, Inc., O. Berk Company, LLC, Alpha Packaging Holdings, Inc., Comar, LLC are some of the notable players in the pharmaceutical plastic bottle market.

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The automation of existing machinery and demand for application-oriented deblistering machines are fueling the demand for both automatic and semi-automatic machines in the market.

Increasing manufacturing output from the global pharmaceutical industry has created a strong need for deblistering machines and packaging solutions. Several manufacturers are preferring automated deblistering machines for faster processing and to reduce unnecessary labor costs, as per ESOMAR-certified consulting firm FMI.

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Growing emphasis on research and development in the pharmaceutical industry is anticipated to propel the demand for efficient deblistering machines. The availability of automatic and semi-automatic deblistering machines allows customization as per the end users’ requirements, generating demand in the market.

The unprecedented COVID-19 pandemic has provided opportunities to the market players operating in the deblistering machine market, due to the rapid expansion of the pharmaceutical industry and the need for drugs and treatments for containing the virus, find FMI in this study.

Currently, North America is showcasing significant demand for deblistering machines, owing to the presence of some of the key market players and a high preference for technological automation in the pharmaceutical sector. Increasing research and development, coupled with product maximization is creating demand for deblistering machines in the region.

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“Rising demand for technologically enhanced deblistering machines, owing to increased manufacturing output in the pharmaceutical sector, coupled with increasing investment in research and development, is fueling the growth of the market,” remarks the FMI analyst.

Key Takeaways:

• Automatic deblistering machines are dominating the market, expanding at a CAGR of approximately 5%.
• Manual and semi-automatic variants are attracting manufacturers’ attention due to relatively lower purchase costs.
• As per FMI’s analysis, 40 to 80 BPM is a highly preferred segment in the deblistering machines market.
• North America is dominating the deblistering machines market owing to the increasing demand for advanced pharmaceutical product packaging.
• Rising production in the Indian pharmaceutical sector are creating demand in the market.
• Manufacturers in the China market are capitalizing on high production supported by low investments and production costs.
• In the German pharmaceutical sector, robust investments in drug development are providing lucrative opportunities for several market players.

Prominent Drivers:

• Increasing manufacturing output by the pharmaceutical industry will drive the deblistering machines market growth.
• Customization as per the end-user’s requirement in automatic and semi-automatic deblistering machines will propel the demand in the market.
• Inclination of manufacturers towards automated deblistering systems to facilitate the overall deblistering process is fueling the market growth.

Key Restraints:

• Manufacturing defaults and quality concerns will have a negative impact on sales in the market.
• High custom duties and taxes imposed on importing deblistering machines in various regions will hinder the market growth.
• Inability to afford high-cost machinery by small manufacturers will negatively affect the growth of the market.

Discover more about the deblistering machine market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/checkout/6645

Competitive Landscape

Prominent players operating in the global diblistering machines market are focusing on the current need from the pharmaceutical sector and are trying to maintain a competitive edge in the market by offering next-gen automated deblistering machines. For instance:

• Stripfoil Debelistering Technology is offering its fully automated deblistering machine with an operating speed of 80 to 140 blisters per minute. These machines are capable of deblistering almost all types of blister formats.
• SEPHA has launched a new range of deblistering machines with features including automatic feed and an improved user interface with fault indicators, easy tooling changeover, and variable speed up to 60 blisters per minute.

Some Leading Players Profiled by FMI in the Deblistering Machine Market include:

• Omnicell, Inc
• Uhlmann Pac-Systeme GmbH & Co. KG
• ACG Worldwide Private Limited
• RBP Bauer GmbH
• Sepha Limited
• Stripfoil Deblistering Technology
• Jornen Machinery Co., Ltd
• O.M.A.R. S.r.l
• SaintyCo International Group
• Elmach Packages India Pvt. Ltd

More Insights on FMI’s Deblistering Machines Market

The latest market study on the global deblistering machines market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of:

Automation

• Automatic
• Semi-Automatic
• Manual

Operating Speed

• Up to 40 BPM
• 40 to 80 BPM
• Above 80 BPM

End Use

• Pharmaceutical Manufacturers
• Pharmacies
• Hospitals & Clinical Laboratories
• Medical Waste Recycler

The pharmaceutical packaging market is  registering an increasing demand for anti-counterfeiting solutions and child protective packaging. In the pharmaceutical industry, counterfeiting has emerged as a major concern for manufacturers and consumers.

Given this,  anti-counterfeiting technologies such as barcodes,  labels and tags are attracting attention among manufacturers. According to a recent report by Future Market Insights (FMI), driven by technological advancements,  pharmaceutical plastic bottle  sales will grow at a CAGR of 10.3% between 2021 and 2031. The market is expected to reach a value of over $79 billion in 2031.

The increasing number of cases of child poisoning due to accidental ingestion of pharmaceuticals has helped introduce child-resistant packaging solutions. These products are typically available in two-piece push-and-turn technology for bottle closures.

For More Insights on Market Request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-7750

Currently, most promising drugs are available in children’s packaging, which has a major impact on sales of pharmaceutical plastic bottles. There is a constant need for innovation among industry players to sustain itself in an extremely competitive market.

For example,  the introduction of RFID to replace traditional barcodes  aims to increase the convenience of tracking and tracking products. QR codes are the newest addition to the pharmaceutical bottle industry, where they are used for multiple purposes, such as displaying detailed product information, tracking products through the supply chain, or as a means of maintaining logs in pharmacies.

Innovations that increase the utilization of recycled materials are also accelerating in the market. These innovations and technological advances are contributing to progress.

For example, in January 2020, Gerresheimer AG  announced that it would provide customized rigid plastic packaging solutions, including pharmaceutical plastic bottles made from BIO-PET and  R-PET .

Key highlights of the Pharmaceutical Plastic Bottles Market study:

• Demand for plastic bottles for ophthalmic/nasal formulations will increase to 12.7% during 2021-2031, driven by increased application of corticosteroid drugs.
• Polyethylene terephthalate (PET)  is expected to account for a dominant share of 30.8% in 2031 as a result of regulations and restrictions on the use of plastics.
• Bottles with a capacity of less than 100ml are projected to increase the opportunity to $28.1 billion over the next five years.
• The US will account for more than 82% of the North American market in 2021. However, the country is likely to lose its share of value to active Canadian industries by the end of 2031.
• China and India will remain lucrative markets due to their large patient populations and investments from the local pharmaceutical industry.

“Pharmaceutical plastic bottles are a relatively economical, lightweight and convenient packaging solution compared to pharmaceutical glass bottles. These products are gaining popularity among manufacturers and consumers. Consumers often choose plastic bottles to avoid the risk of breakage. These factors are expected to drive demand through 2031,” said an FMI analyst.

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Impact of COVID-19 on Pharmaceutical Plastic Bottle Market

The ongoing COVID-19 pandemic has had a negative impact on the packaging industry. Any losses incurred may be due to logistical restrictions and worldwide imposed closures.

Production output has declined due to reduced production capacity and delayed supplies of raw materials. Manufacturers in the pharmaceutical plastic bottle industry have struggled to meet the sudden increasing demand in the market.

With continued easing and unlocking of transport restrictions, the market is expected to grow steadily through 2021 and beyond.

Who is the winner?

Tier 3 players in the pharmaceutical plastic bottle market account for 75-85% of the overall value share. The major players contribute 15-25% of the global market. Strategies related to capacity expansion and investment in product development will gain attention from the industry.

Berry Global Inc.  , Amcor Plc,  ALPLA Werke Alwin Lehner GmbH & Co KG  is a leading player operating in the pharmaceutical plastic bottle market. Additionally, AptarGroup, Inc., O. Berk Company, LLC, Alpha Packaging Holdings, Inc., Comar, LLC are some of the notable players in the pharmaceutical plastic bottle market.

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The worldwide consumption of steel kegs for shipment and storage of beer is anticipated to remain high. The use of kegs as a reliable, cost-effective and appropriate for fermented beverages, furthermore ensuring preservation of organoleptic characteristics and original taste. FMI, in its recent study, stated that the COVID-19 outbreak has impact the market adversely, however, recovery is likely to commence in late 2021.

“Sustained demand for cooking oil remains a key revenue generator for the global kegs market.“ states the FMI analyst.

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Kegs Market – Important Highlights

The global kegs market will surpass US$ 1.67 billion in revenues by 2028-end. Western Europe will remain highly lucrative over the forecast period, due to steady sales in Italy, France and Germany. Alcoholic beverages end use category is anticipated to drive sales in the global market. Steel kegs account for majority of market share

Kegs Market – Drivers

Growing demand for cooking oil is likely to positively impact the market over the forecast period. Increasing demand for premium products such as draught and craft variants is creating opportunities Increasing preference towards flavored alcoholic beverages is projected to benefit the market Legislative regulations backing reduced weight limits appropriate of packaging, will spur adoption of kegs.

Kegs Market – Restraints

Non-return, improper handling or damage of kegs continues to be a challenge for market players Few licensed establishments allowed to install kegs limits opportunities

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COVID-19 Impact on Kegs Market

Although, the market witnessed an increase in sales, on the onset of the pandemic. Players sopped up surplus sales from COVID-19-fueled stockpiling, followed by lost business from operational constraints and closed dining rooms. FMI in its report states that the market is gradually anticipated to pick up pace by the end of 2021 or by 2022 Q1.

Competitive Landscape

Petainer UK Holdings Ltd., Ardagh Group S.A, NDL Keg Inc, AMERICAN KEG COMPANY., Ningbo BestFriends Beverage Containers Co. Ltd, Shinhan Industrial Co, Ltd, Schaefer Container Systems, Blefa GmbH, Julius Kleemann GmbH & Co KG and The Metal Drum Company are a few of the leading market players operating in the kegs market. Market players are focusing on merger and acquisition, collaboration, and partnership to extend their regional presence. Growing number of activities imply that the players working in the global kegs market account for remarkable expansion prospects in the years ahead.

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About the Study

The study offers readers a comprehensive assessment of the kegs market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights according to material (plastic, tin and stainless steel), capacity (up to 20 litre, 20 litre to 40 litre, 40 litre to 60 litre and above 60 litre), end use (alcoholic beverages [beer, wine, spirits and cider], non- alcoholic beverages[soft drinks, RTD beverages, juices and others], cooking oil, chemicals and others), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).

Table Of Content

1. Executive Summary

1.1. Market Overview

1.2. Market Analysis

1.3. FMI Analysis and Recommendations

1.4. Wheel of Opportunity

2. Market Introduction

2.1. Market Definition

2.2. Market Taxonomy

3. Market Background

3.1. Porter’s Analysis

3.2. PESTLE Analysis

3.3. Macro-Economic Factors

3.4. Value Chain

3.5. Opportunity Analysis

4. Market Forecast

4.1. Market Volume Projections

4.2. Pricing Analysis

4.3. Market Value and Y-o-Y Growth

4.4. Absolute $ Opportunity Analysis

Compostable & Biodegradable Refuse Bags Market Analysis: Over 35% of the Compostable & Biodegradable Refuse Bags demand to be  generated by the industrial end use segment, which is expected to increase further by the end of 2028 

The global market for compostable & biodegradable refuse bags was valued at US$ 200.4 million in 2017. The market is forecast to expand at a CAGR of 8.0% during the forecast period, 2018-2028.

Compostable and biodegradable are terms used to designate organic materials breaking down in a specific environmental condition. Refuse bags are disposable bags used to contain waste and rubbish. Compostable and biodegradable refuse bags are made up of organic material, which are obtained from plants. Such plant based materials which are used to make compostable and biodegradable refuse bags are starch blends (corn, potato and others), polylactic acid (PLA), PHA, PBAT and other such materials. These refuse bags can undergo decomposition readily and have minimum negative impact on the environment.

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The compostable & biodegradable refuse market is segmented on the basis of product type, material type, capacity, thickness and end use. On the basis of material type, the market has been segmented as PLA, PBS, PBAT, PHA, starch blends, cellophane, and paper. On the basis of end use, the market has been segmented as retail & consumers, industrial and institutional.

Competitive Landscape

Key players operating in the global market for Compostable & Biodegradable Refuse Bags include Mondi Group, Sphere Group, Vegware Global, VICTOR Güthoff & Partner GmbH, Cedo Ltd., BioBag International AS, PLAST-UP, Polybags Ltd, Clondalkin Group Holdings B.V., Plastiroll Oy Ltd, The Biodegradable Bag Company Ltd, QUICKPACK Haushalt + Hygiene GmbH, MIRPACK, TM, The Compost Bag Company, SIMPAC, TERDEX GmbH, Pack-It BV, Cromwell Polythene Ltd, Flexopack SRL, Virosac SRL, among others.

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The Eastern Europe compostable & biodegradable refuse bags market include country level analysis for Russia, Poland and Rest of Eastern Europe. The Russia compostable & biodegradable refuse bags market is expected to expand at a CAGR of 7.6% during the next decade. The Asia Pacific excluding Japan compostable & biodegradable refuse bags market includes country level analysis for China, India, ASEAN, Australia & New Zealand and Rest of APEJ. The APEJ compostable & biodegradable refuse bags market represent most lucrative geographic region wherein India and China represent substantial incremental opportunity over the forecast period.

The Middle East and Africa (MEA) compostable & biodegradable refuse bags market include country level analysis for GCC, South Africa, North Africa and Rest of MEA. Compostable & biodegradable refuse bags market in the GCC region is particularly driven by high growth in the industrial segment. The Japan compostable & biodegradable refuse bags market is expected to expand at a CAGR of 5.3% over the forecast period.

In this report, we have discussed individual strategies followed by these companies in terms of enhancing their product portfolio, creating new marketing techniques, mergers and acquisitions. The ‘Competitive Land

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

Future Market Insights’ latest report infers the orthopedic braces & support market to reach US$ 5 Bn by 2030.Advancements in orthopedic braces and support market have offered umpteen benefits, bringing substantial improvements in average quality of life and lifespans. Growing prevalence of arthritis, spinal deformities, sciatic nerve, impaired muscle, paralysis, fracture injury and stroke has led to an upsurge in demand for orthopedic braces & support system. Improper and heavy lifting further leads to bulging or ruptured disks, scoliosis, stress-induced back pain and scoliosis

Orthopedic braces and support have been highly popular as they reduce joint pressure, offer compression & warmth and improve physical functions when required. Also, the incidence of orthopedic disorders are climbing every year, attributed to adoption of sedentary lifestyles and an expanding geriatric population pool.

Rising health & fitness concerns have prompted the millennials to engage in sports and exercises involving strenuous muscle activity. Consequently, problems such as sprained ankles, frozen shoulders and stiff limbs are increasing amongst the younger generation, thereby increasing sales of orthopedic braces & support devices.

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However, the coronavirus pandemic has dented near-term growth prospects, attributed to a decline in outdoor activities due to social distancing protocols. Additionally, hospital visits to correct orthopedic anomalies have fallen as healthcare organizations are offering priority to COVID-19 patients.

“As the healthcare industry transitions towards providing patient-centric care, manufacturers are concentrating on including on-demand & data-enabled patient engagement solutions,” infers an FMI analyst.

Key Takeaways from FMI’s Orthopedic Braces & Support Market Report

• Orthopedic braces & support market will expand at a CAGR of 6.1% from 2020-2030
• Lower extremity knee braces shall capture 70% of the total market share, attributed to increasing sports injuries
• Institutional sales of orthopedic braces will remain the vanguard, owing to a high preference for visiting healthcare settings to seek treatment
• Europe and North America collectively comprise half of the orthopedic braces & support market revenue

Orthopedic Braces & Support Market- Key Trends

• E-commerce sales of wrist, hand, ankle and elbow braces is picking up pace due to non-requirement of authorization from healthcare professionals
• 60% of orthopedic braces & support equipment are being sold online through various platforms
• Favorable reimbursement and insurance coverage by medical companies are uplifting off-the-shelf marketing of orthopedic braces
• Market players are enhancing their business models in order to glean maximum returns on their investments

Orthopedic Braces & Support Market- Region-wise Analysis

• North America will be a hotbed for orthopedic surgeries, with 40 million people in the U.S affected by arthritis
• Europe will be an equally lucrative market, with greater than 400,000 rheumatoid arthritis cases detected in the U.K alone
• South & East Asia will be potential revenue grossers, attributed to reduced cost of orthopedic braces in countries such as India, Singapore and Thailand

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Orthopedic Braces & Support Market- Competitive Landscape

Major players in the global market of orthopedic braces & support system are Breg, Inc., Bauerfeind AG, DeRoyal Industries, Inc., BSN Medical GmbH, Ossur hf., DJO Global, Inc., Promedics Orthopedics Ltd., Otto Bock Healthcare GmbH, Trulife Inc. and Ascent Meditech Ltd.

In May 2020, DJO Finance LLC announced free availability of its OaraScore patient risk assessment algorithm for a period of 6 months. The algorithm is useful in providing information regarding which patients are the most appropriate to receive a total joint arthroplasty.

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Orthopedic Braces & Support Market Taxonomy

Product

• Upper Extremity
  • Shoulder Braces and Support
  • Neck Braces and Support
  • Elbow Braces and Support
  • Wrist Braces and Support
  • Spinal Braces and Support
• Lower Extremity
  • Knee Braces and Support
  • Ankle Braces and Support
  • Hip Braces and Support

Distribution Channel

• Institutional Sales
  • Hospitals
  • Orthopedic Surgeons
  • Nursing Facilities
• Retail Sales
  • Online Sales
  • Retail Pharmacies
  • Drug Stores

Region/Country

North America

• U.S
• Canada

Latin America

• Brazil
• Mexico
• Argentina
• Rest of Latin America

Europe

• EU-5
• Russia
• Rest of Europe

South Asia

• India
• Thailand
• Malaysia
• Rest of South Asia

East Asia

• China
• Japan
• South Korea

Oceania

• Australia
• New Zealand

Middle East & Africa

• GCC
• South Africa
• Rest of MEA

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More Insights on the Orthopedic Braces & Support Market

FMI, in its new market research study, offers an unbiased assessment of the orthopedic braces and support market which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report delivers complete analysis on orthopedic braces and support market through three different categories. Additionally, the study also provides pricing insights through different life cycle analyses, mapping of key market trends and technologies being implemented in the orthopedic braces and supports and product adoption across various end-use industries.