Fructose Market to Garner USD 15,556.5 Mn in 2032 at 5.9% CAGR, Says FMI

The global fructose consumer market is expected to increase at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2032, from USD 8,267.2 million in 2022 to USD 15,556.5 million in 2032.

The expansion of the fructose consumer market is predicted to be aided by rising demand for sugar-free and low-calorie food products. Fructose is a primary flavor enhancer found in almost all foods and beverages. The fructose industry will benefit from an increase in the consumption of protein supplements, energy drinks, and skin creams.

Key Takeaways

  • The demand for low-sugar, low-calorie products is driving the fructose industry forward. Low-calorie and low-sugar foods are gaining popularity because they help people lose weight while still providing an excellent source of vitamins and minerals that are beneficial to their overall health.
  • To meet the required level of carbohydrate in the product, many sports nutrition products such as protein shakes, health drinks, and energy drinks contain fructose. Fructose is a popular ingredient since it is easy to digest, low in calories, and a healthier option for diabetics.
  • Fructose has a huge potential in the pharmaceutical sector; one of the most important components in cough syrup is fructose; fructose is also present in practically all therapeutic syrups and a few oral medicines. Pharmaceutical businesses commonly employ high fructose corn syrup as a flavoring component in their products.
  • Because fructose is a prominent ingredient in baby food and is easy for babies to digest, the fructose market has a lot of room for expansion.

“ The growing fructose market is attributed by the rising trend of fitness and health awareness coupled with rising diabetes cases and rising demand for low sugar and low-calorie food is expected to assist the growth. Rise in usage in various applications like medicinal syrups, baby food, and skincare products is going to increase the reach of fructose market,” says a lead analyst at Future Market Insights.

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Competitive landscape

Fructose is expected to witness a booming growth due to the rising trend of fitness and awareness towards health. With the increasing cases of diabetes, fructose is going to be a natural and healthy option of sweetener in day t day life of consumers. With huge demand as a flavoring agent in medical syrups, oral medication, and baby foods, the Fructose market is now looking to expand to the skin care sector with new technological advancements.

To deliver a better quality sports drink to consumers, companies like HIGH5 have put fructose in their energy drink 2:1 fructose. In comparison to glucose and sucrose, protein shakes and protein powder contain fructose for their beneficial characteristics. The trend to stay in shape, as well as aesthetic and health consciousness, has boosted the sports nutrition business, which is benefiting fructose consumers.

Fructose is a novel component that works as a humectant moisturizer and natural exfoliator in skin creams. It can be used to gently exfoliate the skin and draw moisture to the skin’s surface, giving it a moisturized and healthy appearance. Fructose is a desirable ingredient for skin lotions and moisturizers because of its ability to absorb and retain moisture. With technological advancement and demand for natural ingredients, the use of fructose in skincare applications is expected to rise to assist the growth of this segment.

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Explore More Valuable Insights

Future Market Insights, in its new report, offers an unbiased analysis of the global Fructose market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

By Source:

  • Sugarcane
  • Sugar beet
  • Corn
  • Others (Fruits and Vegetables)

By Product Type:

  • High Fructose Corn Syrup
    • High Fructose Corn Syrup 42
    • High Fructose Corn Syrup 55
    • High Fructose Corn Syrup 65
    • High Fructose Corn Syrup 90
  • Fructose Syrups
  • Fructose Solids

By Application:

  • Sports applications (Energy drink, Protein shake)
  • Dairy-based Products
    • Ice Cream
    • Milkshake
    • Frozen Desserts
    • Yoghurt
  • Beverages
    • Non-Alcoholic drinks
    • Alcoholic drinks
  • Baked Goods
    • Biscuits & Cookies
    • Cake, muffins and pastries
    • Bread
    • Others
  • Cosmetics & Personal Care
  • Medicinal syrups and baby foods
  • Others (Confectionery, Candies, Canned Food)

By Regions:

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

Insect Protein Market Exhibits Double Digit Growth at CAGR 28%, Says Future Market Insights

High nutritional value and production efficiency poise the global insect protein market to show astounding growth at 28% CAGR between 2019 and 2029. The market is primarily driven by factors such as cost-efficiency, eco-friendly manufacturing processes, and innovation in food and beverages made from insect protein extracts. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends.

It includes in-depth insights into the insect protein market:

  • Estimated value of the market is pegged at US$ 322 Mn by 2029. Through the course of the report’s forecast period, the market exhibits a dexterous pace of growth.
  • Regionally, Europe emerged as a key market for Insect Proteins. This is attributed to increasing environmental awareness among nutrition-savvy consumers.
  • Along with North America, Europe continues to lead demand generation as key markets for Insect Protein.  Middle East & Africa (MEA) registers double digit growth that offers lucrative opportunities for future revenues.
  • Beetles exhibit promising growth at the highest rate of more than 20% over the forecast period. Beetles contain high amounts of protein, mineral, low fat, and chitin which are driving the growth of this segment.
  • Key players are likely to focus on research and development of new products and strategic supply chain partnerships to stay relevant in developed markets.

“Versatile nature of insect proteins play an important role in generating demand from animal nutrition segment. The mass-adoption is driven by surge in demand for eco-friendly alternatives for animal feed in aquatic and poultry farms. Pets play an important part as owners prefer nutritional food for their beloved pets,” said a lead analyst at FMI.

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Who is Winning?

Some of the leading players operating in the insect protein market are EntomoFarms, Aspire Food Group, Chapul Cricket Protein, Swarm Nutrition, GmbH, AgriProtien Holdings Ltd., InnovaFeed SAS, Protix, SAS Ynsect, EnviroFlight LLC, and Hexafly.

As a result of increasing competition, insect protein manufacturers are focusing on expanding their product portfolio and improving production process. Their expansion strategies are further aided by agreements between them and local players across emerging market. These companies are particularly focusing on catering to changing consumer preference across various applications.

In addition to this, strategic partnerships remain popular among market players. Companies intend to expand their regional footprint through strategic collaborations.

  • UK based insect protein product manufacturers, Eat Grub partnered with SOK- Finland’s largest supermarket group. SOK will distribute insect protein based Eat Grub product across 400 of its stores globally.
  • Insect-based French snack start-up, Jimini’s forged a strategic partnership with Carrefour to sell its products across 300 Carrefour stores worldwide.

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Insect Type:

  • Beetles
  • Caterpillars
  • Bees, Wasps and Ants
  • Grasshoppers, Locusts and Crickets
  • Others

Form:

  • Whole Insect
  • Powder

Application:

  • Food & Beverages
    • Animal Nutrition
    • Aquafeed
    • Pet Food
    • Poultry Feed
  • Pharmaceuticals & Cosmetics

Region:

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

Citrus Pectin Market Is Thriving With Rising Latest Trends 2019 – 2029

Against the backdrop of expanding food and pharmaceutical industries, the demand for citrus pectin is rapidly increasing. The globally rising prevalence of diabetes, obesity and cardiac issues has increased consumers’ focus on healthy, natural and fruit-based products, which in turn, is fuelling the demand in the citrus pectin market. The market is anticipated to rise at a CAGR of ~4.6% between 2019 and 2029, Future Market Insights foresees stable growth for the market.

Key Takeaways from the Citrus Pectin Market Study

  • Advent of newer technologies and increased attention to clean label product development will enable growth in citrus pectin market. In addition, leading manufacturers are now focusing on strengthening their distribution and supply base in order to ensure that products are easily available to their target customers. This is expected to bode well for the market in the coming years.
  • Among product type segments, the High Methoxyl Pectin is currently leading the market. The segment is witnessing high demand in food and pharmaceutical industry since high methoxyl pectin acts as an emulsifier and has texturizing and stabilizing properties.
  • The key players are operating in this citrus pectin market are focusing to expand their presence globally through acquisition and collaboration with domestic and regional players.
  • Key players are also focusing on expanding their global footprint by launching new products related to citrus pectin. In addition, Tier -1 players are investing in research and development activities and continuously monitoring their product offering in order to offer an excellent quality of product.

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“Citrus Pectin market is gaining strength from increasing applications in diverse industries such as food and pharmaceutical industries. Increasing usage of hydrocolloids in food and beverages industry is fuelling the demand for citrus pectin. Moreover, developing clean label citrus pectin products is a major focus of market players. This is expected to create growth opportunities for the market in the near future” says an FMI analyst.

Owing to their natural pectin content, citrus pectin enables formation of gels in high-brix, high-acid applications such as preparations for spreads, bakery and yogurt. Using citrus pectin as an alternative to pure pectin is cost-effective and offers a cleaner label. Different grind sizes of citrus pectin are available in the market which helps the formulator in selecting a pulpy or fine texture based on the target application requirements. In addition, citrus pectin enable syneresis control in cultured dairy products.

Along with the provision of increased yields, citrus pectin enables manufacturers to make the most of fat and water in the gel system. Hydration and dispersion are key to citrus pectin’s functionality. For most of the applications, citrus pectin is dispersed with dry ingredients, followed by adding liquids later. Manufacturers are observing such functionalities as opportunities for extending their product lines.

During process of meat extension, the imperative need of retaining added water while maintaining its edibility and texture has fuelled the demand for citrus pectin. The structural perviousness of which aids in texturizing and binding water in meat processing systems. Moreover, citrus pectin is also capable for improving the quality of mechanically deboned meat (MDM). The manufactures operating in citrus pectin market are also focusing to invest in diversification of portfolio of citrus pectin, in order to meet multiple end uses like pet food.

Who is Winning

Some of the market players profiled in the report are Fiberstar, Ceamsa, Herbafood, Florida Food Products, Cargill Inc., Quadra Chemicals, Naturex, Compañía Española de Algas Marinas S.A. (CEAMSA), Herbstreith & Fox, Yantai Andre Pectin Co. Ltd., Lucid Colloids Ltd., DuPont, Silvateam S.p.A., and CP Kelco.Several leading market players are acquiring smaller businesses to expand their footprint and product portfolio. Besides this, acquisition often allows them to gain competitive advantage.

  • In 2018, Fiberstar launched new product Citri-Fi 150 to cater to pet food and strengthen its product portfolio.
  • In 2018, Cargill Inc. invested US$ 150 million for construction of an HM pectin production in South America.
  • In 2019, CP Kelco has increased its regional penetration through collaboration with Azelis. Also, the company doing capacity expansion in Wulian China to support its growth in Asia Pacifica region.

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Product Type

  • High Methoxyl Pectin
  • Low Methoxyl Pectin

Source

  • Oranges
  • Tangerines/ Mandarins
  • Grapefruit
  • Lemon and Lime

Application

  • Jams & Jellies
  • Beverages
  • Bakery Fillings & Toppings
  • Dairy Products & Frozen Desserts
  • Confectionery
  • Meat & Poultry
  • Dietary Supplements
  • Functional Food
  • Pharmaceutical
  • Personal care & Cosmetics
  • Others

Region

  • North America
  • Latin America
  • Europe
  • APEJ
  • Japan
  • MEA

Bio Vanillin Market to Garner US$ 148.4 Mn in 2022 at 7.4% CAGR, Says FMI

The global bio vanillin market size was valued at US$ 148.4 Mn in 2022. According to a study by Future Market Insights (FMI), the market will show a steady rise at 7.4% CAGR between 2022 and 2032. According to the report, the rising demand for food products made with nutritive ingredients will stoke growth in the market. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.

It includes in-depth insights into the bio vanillin market. Some of these are:

  • Regionally, Asia Pacific exhibits high demand, emerging as a key market for bio vanillin.
  • Europe and North America markets will remain strong, exhibiting impressive growth.
  • Food and beverages industry will exhibit high demand for bio vanillin
  • Key players are likely to focus on product innovations and strategic alliances to stay relevant in developed markets.

Rising Demand from Food and Beverage, Fragrance and Pharmaceutical Industries Supports Growth

The demand for bio vanillin will accelerate in the coming years. To a large extent, favourable growth opportunities witnessed in the market is driven by the long-standing position of vanilla as one of the most opted flavours in the food and beverages sector. It is used in a wide assortment of confectioneries such as pastries, ice-creams, custards, waffles and others. While the demand for flavouring agent is unlikely to phase out, consumers are shifting away from synthetically produced flavouring agents at a swift pace. This leaves manufacturers with little choice but to include bio-based flavours. As a result of the prevalent trends, bio vanillin market today holds a strong position in the global food and beverages sector. In addition to this, the market will gain from the burgeoning demand for fragrances with sweeter undernote.

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Who is Winning?

Some of the leading players operating in the bio vanillin market are ENNOLYS, Omega Ingredients Ltd, Givaudan SA, Advanced Biotech, Firmenich SA, Comax Flavors, Apple Flavor & Fragrance Group Co., Evolva Holding SA, Lesaffre, Alfrebro, LLC, Solvay SA, Archer Daniels Midland Company, Aurochemicals, Camlin Fine Sciences Ltd. Borregaard, and Camlin Fine Sciences Ltd.

Amidst growing competition, manufacturers in the bio vanillin market are focusing on product launches and strategic alliances to gain competitive edge.

  • Recently Solvay, a leading provider of ethyl-vanillin and vanillin ingredients, unveiled its novel bio-sourced ingredients called Rhovanil® US NAT at IFT 2021. Solvay’s bio-sourced ingredient will be available for US customers.

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Get Valuable Insights into Bio Vanillin Market

Future Market Insights, in its new report, presents an unbiased analysis of the global plant-based beverages market, covering historical demand data and forecast figures for the period between 2022 and 2032. The study divulges compelling insights into growth witnessed in the market. In terms of (give segment-based and region split)

By Application

  • Food & Beverages
    1. Ice Cream
    2. Bakery and Confectionery
    3. Chocolate
    4. Other foods
  • Pharmaceuticals
  • Fragrances
  • Cosmetics
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • APEJ
  • Japan
  • Middle East & Africa

Custom T-Shirt Printing Market expected at a CAGR of ~ 9.7% & US$ 9,009.3 Mn during the forecast period 2020–2032

According to a recent report by Future Market Insights (FMI), the global custom t-shirt printing market is expected to surpass US$ 9,009.3 Mn, exhibiting a CAGR of over 9.7% through 2032.

Customized t-shirts are gaining immense popularity among younger generation. Growing trend of wearing graphic, pre-printed t-shirts with movie logos and slogans is propelling the sales in custom t-shirt printing market.

Popularity of customised t-shirts among the young is attributable to availability of a wide range of colour, pattern, garment, words or images printed on the shirts. As a result, sales of pre-printed and creative graphic t-shirts are increasing.

Subsequently, availability of trendy, fashionable, stylish, and unique customized t-shirts which reflects individual personalities is also favouring the growth. In addition to this, cost-effective prices of these t-shirts, especially across emerging economies, will also accelerate the sales in the market.

Moreover, the use of custom printed t-shirts to raise social awareness, raise a voice, and support a cause is on the rise. Furthermore, customers in industries such as hospitality, logistics, construction, industrial, and medical, are increasingly providing custom printed t-shirts to their employees as a marketing tool.

Growing influence of bloggers, promotional strategies, and improved standard of living are also driving the demand for custom printed t-shirts in the market.

2017-2021 Global Custom T-Shirt Printing Market Outlook Compared to 2022-2032 Forecast

Future Market Insights (FMI) estimates the global custom t-shirt printing market to witness staggering growth over the forthcoming decade of 2022 to 2032. T-shirt manufacturing companies are increasingly using custom designed t-shirts as a modern branding strategy for branding.

Companies, especially start-ups, are using this technique to increase their brand visibility and woo the potential customers. Additionally, growing use of customized t-shirts as a branding tool is expected to boost the market.

Besides this, rising inclination in fashion industry towards customized clothing coupled with growing disposable income is enabling them to spend on customized products. This is resulting in high demand for customized t-shirts with slogans and logos printed on them.

Backed by these aforementioned factors, the global custom t-shirt printing market is expected to increase by 2.5X, surpassing 508,487 units by the end of 2032.

custom t shirt printing market

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Key Takeaways from the Custom T-Shirt Printing Market Study

  • In terms of technique, screen printing segment is expected to hold over 52.1% of market share in 2021.
  • The U.S. custom t-shirt printing market will contribute over 78.9% of share in North America.
  • Based on design, the artwork segment is expected to register a CAGR of 12.5% from 2022 to 2032.
  • India is expected to spearhead the growth in South Asia custom t-shirt printing market, with sales increasing at 16.6% CAGR through 2022 & beyond.
  • Sales in Japan custom t-shirt printing market are expected to rise at over 15.0% CAGR over the forecast period.

Who is winning?

Leading manufacturers of custom t-shirt printing are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of custom t-shirt printing globally.

Major players present in the custom t-shirt printing market are CafePress Inc., Custom Ink, LLC., CustomThread, Printful Inc., RushOrderTees.com, Spreadshirt, THEBLUEGECKOPRINTING, THREADBIRD, UberPrints, Inc., Vistaprint, Blue Gecko (UK) Ltd, POLOS INC, Teetalkies, INSTANT IMPRINTS, Rogue Star, Sharprint, Kornit Digital, Carhartt, Inc., and Nike, Inc among others.

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Gas Turbine Market expected at a CAGR of ~ 4.0% & US$ 23 Bn during the forecast period 2020–2032

As per a recent gas turbine market analysis by Future Market Insights (FMI), the global market was valued at over US$ 19 Bn in 2021 and is projected to expand at a modest CAGR of 4% over the forecast period. The steady requirement of efficient power generation technology in developed countries and flourishing industrial sector in developing economies remain the major drivers of the gas turbine market.

Emerging gas turbine markets such as China and India provide various untapped and undiscovered prospects for the market to expand.

Competitive advantage of gas turbines is high over other distributed generation technologies for backup power and onsite generation because of their better efficiency and stable generation capacity. As a result, the rise of distributed power generation represents a significant gas turbine market opportunity.

The rise in the global awareness of environmental health is also heavily influencing a paradigm shift in the conventional coal-powered plant industry. The stringent government regulations regarding the greenhouse emissions further have further incentivized the use of gas turbine systems.

The volatility of natural gas prices restricts the growth of the industry. The erratic nature of transnational factors establishes an uncertainty about the demand for gas turbines.

Despite the restraints, the gas turbine market is expected to reach a valuation of US$ 23 Bn by 2026.

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Key Takeaways

  • Based on sector, the electric power sector utility segment dominated the market with a 76% share in 2021. It is followed by oil and gas sector due the rise in exploration activities.
  • The Asia Pacific gas turbine market is predicted to be driven by economic expansion, development and carbon dioxide emission regulations.
  • As per design type, the heavy segment accounts for the major part of the market. Aeroderivative gas turbines are lighter, easier to install, and start up faster which makes aeroderivative the fastest-growing segment.
  • The 150-300 MW segment is dominating the market share when categorized as per capacity. The 300+ MW market is steadily rising, owing to recent shift in gas turbine market trends.
  • The power and utilities segment had the highest revenue share of almost 85% in 2020, and it is expected to rise at the highest CAGR during the forecast period.
  • Due to rapid industrialization, Asia Pacific emerged as the largest regional market and accounted for the maximum revenue share of over 31% in 2020.
  • Global natural gas consumption was reported to be 3822.8 billion cubic meters in 2020, according to the BP statistical analysis of world energy 2021, a decrease of roughly 81.1 billion cubic meters from 2019. It could be the direct result of lockdowns and the impact of COVID-19 on the gas turbine market.
  • Coal-fired power generation dominates the Indian power sector, accounting for 61.3 percent of total installed capacity in June 2021. For decarbonization and meeting the Paris Agreement’s commitments, the country possesses enormous renewable energy and gas-based power generation potential.

Competitive Landscape

The gas turbine market is consolidated with a few major players controlling a major share of the market. The potential of gas turbine market growth remains high with the heavy influence of competitive environment.

  • Ansaldo Energia and Shanghai Electric Group’s consortium signed a deal with Bangladesh Power Development Board Company named North-West Power Generation Company Ltd in June 2020. The collaboration is projected to develop and construct an 880 MW combined cycle power plant in Bangladesh under this deal, allowing the enterprises to expand their scale of operation.
  • In another recent development, in August 2020, General Electric has placed an order for an 858 MW CCGT power plant to supply the Zainskaya State District Power Plant with its 9HA.02 gas turbine and supporting equipment.

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Key Segments

By Design Type :

  • Heavy-duty
  • Aeroderivative

By End User:

  • Power Generation
  • Oil and Gas
  • Other Industrial

By Technology:

  • Open Cycle
  • Combined Cycle

By Rated Capacity:

  • Application Gas
  • TurbineNetwork Gas
  • TurbineDevice Gas Turbine
  • Social Engineering

By Region:

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

Major Players:

  • Mitsubishi Heavy Industries, Ltd.
  • Siemens Energy
  • AnsaldoEnergia
  • United Engine Corporation
  • Kawasaki Heavy Industries, Ltd.

Wine Market expected at a CAGR of ~ 5.1% & US$ 846.3 Bn during the forecast period 2020–2032

As per Future Market Insights, the global demand for wine is expected to increase at over 5.1% CAGR, surpassing US$ 846.3 Bn between 2022 and 2032. Growth in the market is attributable to increasing consumption of red wine due to its varied health benefits.

According to the World Health Organization (WHO), more people die each year from cardiovascular disease (CVD).  As per the WHO, red wine have several health benefits such as weight loss, low blood sugar levels and others. Hence, wine is being promoted as a healthy beverage.

Sales of organic wine are expected to remain high during the projected period. Growing trend for organic products due to increasing health awareness is also favoring the growth in the market. Hence, demand for organic wine from the retail and restaurant is expected to increase at a robust pace overt the forecast period.

Consumption of organic wine is rapidly expanding, especially in Germany and France, according to Future Market Insights. Also, advent of sustainable winemaking processes has encouraged the sales of organic wines.

2017-2021 Global Wine Market Outlook Compared to 2022-2032 Growth Forecast

As per Future Market Insights (FMI), the overall demand for wine is expected to reach a shipment of nearly 999.6 billion tons through 2022. Growing popularity of wine among all age group, from young to old, is a key factor driving the market.

Rising disposable income and improving lifestyle across the globe are resulting in improved lifestyle choices. Hence, consumption of high-quality wine is increasing the demand for coastal wine.

Availability of a wide range of wine products, coupled with increasing penetration of social media is improving the demand for white and red wine. This is expected to aid the growth in the global wine market.

Additionally, growing focus on innovative work has fostered improvements in wine mixtures by exploring new avenues for fresh flavors. This is boosting the wine industry’s share of the coastal market.

Subsequently, the distribution of several wine items has resulted in the growth of maturing interaction and incorporation of varied elements in wine production. As a result, sales of wine are expected to soar across the globe.

wine markett

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Key Takeaways from the Wine Market Study

  • In terms of type, the sparkling wine segment will dominate the market, registering growth at 8.5% CAGR between 2022 and 2032.
  • In terms of price range, US$ 10- US$ 15 held over 39.1% of market share in the global wine market
  • The U.S. held more than 67.6% of market share in North America in 2021 owing to the upsurge in the number of bars and restaurants in recent years.
  • Italy wine market is expected to exhibit growth at a CAGR of 4.3% for due to the easy availability of grapes for wine production.

Who is winning?

Leading manufacturers of Wine are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of wine globally.

Major players present in the wine market are The Wine Group, John Distilleries, International Beverage Holdings, Halewood Wines International, Sula Vineyards Pvt. Ltd., Asahi Group Holdings, Ltd., Beijing Yanjing Beer Group Corporation, Castel Frères, Accolade Wines, Constellation Brands, Treasury Wine Estates (TWE), Pernod Ricard, and E. & J. Gallo Winery among others.

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Global Wine Market By Category

By Type:

  • Sparkling Wine
  • Dessert Wine
  • Red Wine
  • White Wine

By Price Range:

  • Below US$ 5
  • US$ 5-10
  • US$ 10-15
  • Above US$ 15

By Source:

  • Organic Wine
  • Conventional Wine

By Sales Channel:

  • Hypermarkets/ Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Pubs/Bars/ Restaurants
  • Online Retailers
  • Other Sales Channel

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Robotic Vacuum Cleaners Market expected at a CAGR of ~ 14.5% & US$ 3.5 Bn during the forecast period 2020–2031

According to a recent study by Future Market Insights (FMI), robotic vacuum cleaners market is expected to surpass a valuation of US$ 3.5 Bn in 2021. It is also expected to exhibit a CAGR of over 14.5% through 2031.

In the last few years, vacuum cleaner technology has advanced significantly. Because of their ability to clean an area without requiring human participation, robotic vacuum cleaners sales are surging at a high pace.

Additional features of robotic vacuum cleaners include rotating brushes, mopping, and UV sterilization. Some are designed to efficiently perform cleaning chores of household. To offer greater efficiency and high performance, manufacturers are integrating robotic vacuum cleaners with security cameras, intercom systems, and other functions.

Robotic vacuum cleaners are a result of technological advancements enabled by artificial intelligence (AI) and the internet of things (IoT). They can be programmed and operated remotely to execute their cleaning tasks and they are clever enough to do it with minimal human intervention. With their advanced technologies, robots are playing an increasingly essential role in modern society, making human life easier and more comfortable.

Market players are concentrating on producing more technologically advanced robotic vacuum cleaners using cutting-edge technology such as artificial intelligence (AI) (Artificial intelligence). Samsung Electronics, for example, released an AI robot vacuum cleaner in 2021 that has improved object identification and operation performance due to artificial intelligence (AI) technology.

The BESPOKE Jetbot AI is a smart robot vacuum cleaner designed to clean itself and empty its dust bin. It is the world’s first robot cleaner to be equipped with Intel’s artificial intelligence (AI) solution (Intel Movidius), which enables the robot cleaner to reason independently like humans.

How Will Robotic Vacuum Cleaners Market Fare in 2021-2031 in Comparison to Sales Registered in 2016-2020?

Demand for robotic vacuum cleaners grew at 5.6% CAGR between 2016 and 2020. The outbreak of the novel COVID-19 dampened sales prospects due to restrictions in movement and disruptions in supply chain.

Robotic vacuum cleaners, often known as robovacs, are largely utilized in the home and business sectors to clean floors, pools, and gutters.  A cleaning system, programming software, batteries, and other supplies are all included in the units of robotic vacuum cleaners.

They also have a variety of new features, including as smartphone connectivity, laser vision, room mapping, and self-charging, to make users’ lives easier. The market for robotic vacuum cleaners is projected to be driven by such product offerings.

Considering this, FMI has estimated that robotic vacuum cleaners market represented 1% to 3% of overall sales in the cleaning appliances market in 2020.

robotic vacuum cleaners market characteristics and attributes with regional relevence 2021

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Key Takeaways from the Robotic Vacuum Cleaners Market Study

  • In terms of robot type, the in-house robot segment is projected to account for 75.9% of the total robotic vacuum cleaners market share in 2021.
  • In terms of mode of charging, auto battery charging type accounts for 70.9% of the total robotic vacuum cleaners market share in 2021.
  • The US is a key market in North America, accounting for 91.5% of robotic vacuum cleaners sales in the region in 2021.
  • The U.K. will emerge as a highly lucrative market within Europe, exhibiting 7.5% CAGR.

Impact of COVID-19 on the Market

The COVID-19 outbreak had a wide-ranging impact, including the closure of all non-essential businesses and retailers, leading to a loss of corporate confidence, heightened public worry, and future uncertainty. It has spread indiscriminately over the world, resulting in a hazardous indoor atmosphere. The production rate of these vacuum cleaners had fallen dramatically all over the world as a result of the sudden shutdown of manufacturing factories. Restrictions imposed hampered sales as well as international export and import.

Furthermore, the COVID-19 created new opportunities for robotic vacuum cleaner manufacturers. Due to the need for cleanliness and hygiene in homes and business spaces, industry players saw higher sales of robot vacuums beginning at the second quarter of 2020. Consumers bought robotic vacuum cleaners to keep the virus from spreading in their homes.

Additionally, according to International Federation of Robotics sales value for robots has increased by 32% to USD 11.2 billion and the recent Covid-19 pandemic is further expected to boost the market.

Who is winning?

Leading manufacturers of robotic vacuum cleaners are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of robotic vacuum cleaners globally.

Major players present in the robotic vacuum cleaners market are iRobot Corporation, LG Electronics, Robert Bosch GmbH, Samsung Corporation, Dyson Ltd., Panasonic Corporation, Xiaomi, ECOVACS, Proscenic, Neato Robotics, Inc., Yujin Robot, Co., Ltd., Hayward Industries, Inc., Pentair plc, Milagrow Business & Knowledge Solutions (Pvt.) Limited. Koninklijke Philips N. V, among others.

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Air Purifier Market expected at a CAGR of ~ 11.3% & US$ 10 Bn during the forecast period 2020–2031

According to a recent report by Future Market Insights (FMI), air purifier market is expected to surpass a valuation of US$ 10 Bn in 2021. It is expected to grow at a CAGR of approximately 11.3% through 2031.

Since the last decade, the use of membrane technology in air purifiers has increased dramatically. In order to receive excellent air filtration, membrane filters are created using a combined electrospinning/netting approach with a receiving substrate design. The effectiveness and pressure drop of air purifiers made using ePTFE and UPE membranes are remarkable.

People are becoming more aware about their health and fitness as a result of increasing health awareness. The impact of air pollution in causing respiratory disorders, such as acute respiratory infections and chronic obstructive pulmonary disease, is well established. Because industrialization, urbanization, and contemporary lifestyles cannot be compromised on, strategies to reduce emissions and reverse the problem of poor air quality are gaining traction. Air purifiers are proving to be the most promising solution for addressing poor air quality.

The air purifier market has seen a lot of claims made by manufacturers in order to promote their brand and level up the competition. As a matter of fact, consumer purchase patterns are often influenced by company claims.

Producers and brand owners have focusing on improving efficiency and efficacy of their products to woo increasing number of consumers. LG, for example, stated that in 2020, it will produce a one-of-a-kind cover for the PuriCare Wearable Air Purifier that will use the company’s UVnano sterilisation technology to kill 99.99 percent of germs in under 30 minutes using UV-C LED rays.

2021-2031 Global Air Purifier Market Outlook Compared to Growth Registered in 2016-2020

The outbreak of the novel COVID-19 dampened sales prospects due to restrictions impos4ed on, which also caused disruptions in supply chains activities across various industries. Contrary to this, the unprecedented pandemic outbreak also made people more cautious about air they breathe.

The focus on disinfection and living in a hygienic environment was at its peak during COVID-19, which has helped the air purifier market to recuperate from the pandemic-induced restrictions.

In the coming years, the demand for air purifier will get stronger, especially as consumers exhibit higher willingness to maintain healthy indoor air quality. Driven by this, the global air purifier market will exhibit 11.3% CAGR between 2021 and 2031 in comparison to 8.5% CAGR exhibited in 2016-2020.

The demand for air purifier for home and offices is predicted to increase significantly over the forecast period. Increasing online penetration of leading air purifier manufacturers will also aid growth in the market.

High installation of air purifiers in schools, hospitals, and other institutions is likely to remain a chief growth driver. The demand from commercial sector will rise as well. More than 80% of the overall revenue from air purifiers is expected to come from the commercial sector. This is owing to manufacturers’ growing efforts to diversify their economies and develop innovative products.

air purifier sector region wise plc position and notable trends

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Key Takeaways from the Air Purifier Market Study

  • In terms of technology, HEPA filters account for a major share in the air purifier market. Demand in this category is expected to grow at a CAGR of 4.3% in 2020.
  • Leading companies in the air purifier market will cover nearly 42% of sales.
  • The U.S. will account for maximum demand in North America, sealing its dominance in the global market.
  • Demand in the U.K. will grow at an impressive pace, pushing overall growth in the Europe market.

“As competition continues soaring, market players are likely to focus on making air purifiers smarter. They are integration concepts of artificial intelligence to enable improve machine-human interaction,” says an FMI analyst.

Impact of COVID-19 on the Market

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

On the flip side, the change in consumer buying habits has encouraged a shift from store based retailing to online retailing, facilitating a wider market reach. This is expected to aid in the global market recovery.

Who is Winning?

Leading manufacturers of air purifier are focusing on aggressive promotional strategies, advertisements, and new product launches to drive sales growth of air purifier globally.

Major players present in the air purifier market are Koninklijke Philips N. V, LG Electronics Inc., Xiaomi Corporation, Afpro Filters B.V., Dyson Ltd., Godrej Appliances, Condair Group AG, Daikin Industries, Ltd., Honeywell International Inc., Whirlpool Corporation, Japan Air Filter Malaysia Sdn. Bhd., Hitachi Limited, Dyson Technology Ltd, and Panasonic Corporation among others.

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North America Electrical Testing Services Market expected at a CAGR of ~ 5.90% & US$ 3.28 Bn during the forecast period 2020–2031

North America electrical testing services market will total US$ 1.85 Bn in 2021, with a stable long-term projection, according to latest insights from Future Market Insights, an ESOMAR-certified research and consulting firm.

The report has forecast the North America electrical testing services market to grow at nearly 5.9% during 2021-2031. Due to the economic impact of COVID-19, demand for electrical testing services decreased in 2020. With various end-use sectors already resuming daily operations, scope for sales of electrical testing services will grow in North America.

Because of the high pace of population expansion and urbanization in the United States and Canada, the power generation and transmission industries are expected to increase steadily. Rapid growth in the residential sector in urban as well as semi-urban areas in this region will contribute significantly to the market growth.

2021-2031 North America Electrical Testing Services Market Outlook Compared to 2016-2020

Driven by the rapid industrialization and technological advancements in North America, the electrical testing services market will rise at 5.9% CAGR between 2021 and 2031 in the comparison above 0.9% CAGR registered during 2016-2020.

Transformer testing and other major service types are currently in high demand across diverse industries as transformer testing is essential for confirming the performance and specification of a transformer. Performing maintenance and testing periodically to maintain the working efficiency of an electrical device is of prime importance. This makes electric testing services highly sought-after in North America.

Increasing focus on personal safety is encouraging customers to invest in advanced electrical testing solutions. As electricity has the potential of fatally injuring a person, unchecked electrical equipment has a greater probability of causing hazard due to instances such as leakage, short-circuiting, faults in wiring, leakage of lubricants, and others. To counter the risk of such incidents, focus on electrical testing services will skyrocket.

projected bps change in market share for end use segment in north america electrical testing market 2021 2031

Key Takeaways of North America Electrical Testing Services Market Study

  • The U.S. will lead the North America electrical testing services market, accounting for over half of sales through 2031.
  • The demand for electrical testing services in Canada will grow by 6.1% CAGR between 2021 and 2031.
  • During the projected period, transformer testing and circuit breaker testing segments are expected to lead in terms of market share and growth rate. Because of their simple operational versatility and high load capabilities, the category is predicted to account for nearly half of the market value share through the forecast period.
  • The increasing demand for rotating equipment vibration testing and motors/generators testing will continue driving growth in the market.

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Competitive Landscape

The market is moderately consolidated, with key players accounting for more than half of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are Schneider Electric, Siemens AG, Eaton Corporation plc, General Electric Company, ABB Inc., Power Products & Solutions, American Electrical Testing, Haugland Group LLC, Dekra, TCS Electrical Co., Phase One Electric, Intran, GEM Electrical Services and Electric Power Systems.

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