Barcode Scanner Market Competitive Growth Strategies Based on Type, Applications, End User and Region

As per newly released data by FMI, the barcode scanner market is estimated to be worth US$ 7 Bn in 2021. The market is expected to grow at a CAGR of over 7.6% between 2021 and 2031. Increase in healthcare sector is expected to increase the demand for barcode scanners over the assessment period.

Despite challenges posed by COVID-19 outbreak, the barcode scanner demand increased with a rapid shift from handheld laser scanning to imaging solutions.

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North America will remain as a leading market, accounting for over 30% value share in 2021. Barcode scanner demand outlook for North America is expected to remain positive with the healthcare sector touted as leading contributor.

The global barcode scanner market is estimated to be valued worth US$ 7 Bn in 2021, according to FMI. The market is expected to register robust growth on the backdrop of healthy demand from retail, e-commerce and logistics, healthcare, and manufacturing sectors.

Laser-based scanner is expected to remain as the prime technology. Laser scanners are widely used in regions with established manufacturing and retail sectors such as Western Europe and North America. By the 2021-end, laser scanners are estimated to accounts for 32.3% revenue share of the market and will continue to be the most preferred barcode reader technology throughout the assessment period.

Portable/Handheld Barcode Scanner Sales Poised to Surge

The portable/handheld segment (includes rugged, cordless, automatic, PDA and other scanners) is projected to increase at a CAGR of 5.7% over the forecast period. By technology, the camera-based reader segment is projected to gain 430 basis points during the forecast period due to increasing demand from the retail and manufacturing sectors in North America.

Owing to characteristics such as faster print speed and versatility, demand for portable/handheld barcode scanners is rapidly increasing in various parts of the world. Use of barcode scanners in the retail and commercial sector continues to be the highest and is expected account for a major chunk of revenue over the forecast period. Meanwhile, the healthcare industry is swiftly adopting the barcode technology as well.

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Amongst regions, markets in Asia Pacific excluding Japan (APEJ) and North America are expected to exhibit high growth potentials. In APEJ, China and India are projected to achieve impressive growth of their barcode scanner market. By 2017-end, the region is projected to account for a revenue share of 29.5%, which is expected to increase to 33.8% towards the end of the forecast period.

By Segmentation:

By Product Type

  • Portable/Handheld
    • Rugged Scanners
    • PDA Scanners
    • Automatic Readers
    • Others
  • Fixed Position
    • Stationary Scanners
    • Presentation Scanners
    •  Automatic Readers
    • Others

By End Use

  • Retail & Commercial
  • General Manufacturing
  • Healthcare
  • Logistics & Warehouse
  • Commercial Aviation
  • Defence
  • Others

By Technology

  • Pen Type Reader
  • Laser Scanner
  • CCD (Charge Coupled Device) Readers
  • Camera Based Reader
  • Omni Directional Barcode Scanner
  • Smartphone Based Scanner
  • RFID (Radio Frequency Identification Technology

By Region

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

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Competitive Analysis:

Market players are targeting APEJ as their key sales region.  Zebra Technologies Corporation, Honeywell International Inc., DataLogics S.P.A, Cognex Corporation, OCOM Technologies, Wasp Barcode Technologies, JC Square Inc., SATO Holdings Corporation, Scandit AG and Toshiba TEC Corporation are some of leading companies profiled in the FMI report.

Metalworking Fluids Market is projected to grow at 3.7% CAGR between 2021 and 2031

As per a latest market study by Future Market Insights (FMI), the demand for metalworking fluids is projected to grow at 3.7% CAGR between 2021 and 2031, reaching US$ 9.61 Bn in 2021.  With a favorable demand outlook, sales of metalworking fluids are poised to total 36,67,557.1 Tons by 2031.

Increasing adoption of metalworking fluids for the production of key metal components in the transportation equipment and heavy machinery industries will continue augmenting market growth.

Growing preference for lightweight metals such as aluminum, copper, and zinc in production of complex components used in high performance applications is anticipated to boost sales of metalworking fluids over the forecast period.

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Rapid urbanization and population growth are leading to a surge in demand for private transportation vehicle and increased spending on public transport. The automotive industry has been a key beneficiary of this trend, as automotive sales continued increasing in developing countries such as China, India, Saudi Arabia, and ASEAN nations.

Similar growth has been recorded in these markets for public transportation facilities such as metro trains, resulting in high demand for metalworking fluids in the automotive and transportation sectors.

However, various stringent regulations regarding the usage of harmful synthetic chemicals are restricting the market growth. To counter this issue, manufacturers are investing in research and development activities to develop eco-friendly lubrication solutions.

Emergence of bio-based fluids, and other multifunctional fluids to reduce incompatibility will continue providing tailwinds to metalworking fluids sales in the forthcoming years.

Key Takeaways from Metalworking Fluids Market Study

  • Transportation equipment is the leading consumer of metalworking fluids, accounting for and more than half of the overall metalworking fluids produced.
  • Sales of straight oils are projected to increase by 3.1% year-over-year in 2021.
  • Based on product type, sales of metal removal fluids are projected to command over 50% of the total metalworking fluids market share.
  • The U.S. will continue dominating the North America metalworking fluids market, growing by 3.0% year-over-year rate in 2021.
  • Demand for metalworking fluids in Germany is anticipated to rise at a 3.5% CAGR through 2031.
  • China will emerge as a lucrative metalworking fluids market, expanding at a 5.1% CAGR over the forecast period.
  • Japan and South Korea will collectively account for 9.7% of the total metalworking fluids market share.

“Increasing sales of lightweight automotive such as electronic vehicles (EVs), along with innovations in fluid blends to cater to diverse industrial requirements will continue pushing the sales of metalworking fluids over the forecast period,” says the FMI analyst.  

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Metalworking Fluids Market: Participant Insights                                               

Key players operating in the global metalworking fluids market comprise ExxonMobil Corporation, Idemitsu Kosan Co. Ltd., Quaker Chemical Corporation, FUCHS Petrolub SE, TotalEnergies SE, Apar Industries Limited, Yushiro Chemical Industry Co. Ltd., Cimcool Industrial Products LLC, and Metalworking Lubricants Company.

As per FMI’s analysis, top 5 players including Quaker Chemical Corporation, ExxonMobil Corporation, TotalEnergies SE, Idemitsu Kosan Co. Ltd. and BP plc. are projected to account for 45-55% of the total metalworking fluid market share.

In efforts to gain a competitive edge, leading players are focusing on research and development to launch new and innovative products that are more efficient and comply with various stringent regulations. In addition to this, collaborations, mergers, and acquisitions will remain effective growth strategies among players over the assessment period.  For instance:

  • In 2021, Quaker Chemical Corporation announced the beginning of a new joint venture with Grindaix GmbH, which is a German provider of high-tech coolant control solutions and delivery systems.
  • In 2021, Idemitsu and IHI Corporation announced that they had concluded a joint agreement to establish a supply chain network for ammonia.

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More Insights into the Metalworking Fluids Market Report

In its latest report, FMI offers an unbiased analysis of the global metalworking fluids 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 category (straight oil, emulsified oil, semi-synthetic oil, and synthetic oil), product type (removal fluid, protection fluids, forming fluids, and treating fluids) end-use type (metal fabrication, heavy machinery, transportation equipment, and general manufacturing) and across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

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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Pallet Pooling Market Competitive Growth Strategies Based on Type, Applications, End User and Region

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

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

Pallet Pooling Market to Cross US$ 11 Bn Mark by 2029. Wood and plastic will remain the material of choice for manufacturing pallet pooling. Pallet pooling derived from wood continues to capture a higher demand share as compared to other materials such as steel and composites.

Further, the sales of wood pallet pooling will surpass the US$ 6 Bn mark during the latter half of the forecast period. Preferred for its durability and cost efficiency, disposable plastic pallet pooling is likely to witness notable upsurge in its revenue share in the global pallet pooling market in the near future.

Key Takeaways of Pallet Pooling Market Study

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

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

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By Segmentation:

Structural Design

  • Blocks
  • Stringers
  • Customized

Material

  • Wood
  • Composite
  • Plastic
  • Steel
  • Other Metals

End User

  • FMCG
  • Food & Beverages
  • Pharmaceuticals
  • Electronics
  • Chemicals
  • Others

Region

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

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Competitive Landscape

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

ASEAN Automotive Aftermarket Brief Forecast and Analysis by Top Key Players to 2031

The automotive aftermarket in ASEAN is reeling from the COVID-19 impact, however, recovery is likely to be more immediate compared to European and American counterparts, according to a latest study.

Future Market Insights (FMI), an ESOMAR-certified market research firm, in an updated edition of its report, revised the forecast to 8.7% CAGR. This revised forecast takes into account sluggishness induced by the global pandemic.

Key Takeaways of ASEAN Automotive Aftermarket Market Study

  • The ASEAN automotive aftermarket market is expected to grow at 8.7% CAGR over the following decade
  • Demand for automotive aftermarket services to surge from low commercial vehicles (LCV) segment
  • Tires and batteries leading categories in terms of total sales

“Automotive manufacturers are increasingly relying on silicon anode batteries to power electric vehicles (EV), given their greater energy density and better battery life. As such, these batteries are gaining huge traction among OEMs,” says FMI analyst

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COVID-19 Impact on ASEAN Automotive Aftermarket Market

The growth of ASEAN automotive aftermarket market is linearly associated with the regional automotive industry. While the shockwaves of the COVID-19 pandemic are certainly felt across every sector, the automotive industry in ASEAN is potentially facing a significant grunt of it.

While the regional industry was already under pressure, especially in Indonesia and Thailand, acute supply chain disruptions due to COVID-19 outbreak in China is further worsening the situation.

Recent estimates reveal that the ASEAN automotive industry recorded a steep 42% decline in sales during January-May period in 2020. While Philippines topped the chart with 51.1% drop in sales, Malaysia and Indonesia registered 48.9% and 41.2% sales drop respectively. The ASEAN automotive aftermarket market, in turn, is stumbling from these reverberations.

Self-inflating Tires for Better Efficacy in Existing and Futuristic Cars

Over or under-inflated tires diminish fuel efficiency and range for conventional and electric vehicles (EV). As such, companies such as Continental AG have developed self-inflating tire concept that maintains pressure at preferred levels. The technology – C.A.R.E (Connected Autonomous Reliable Electrified) – is closely aligned with the requirements of e-mobility and autonomous driving.

The tires feature in-built pumps attached in the wheels that ensure the tire pressure remains in optimal range for efficiency. This technology is expected to help reduce CO2 emissions as well as slight improvement in average fuel economy. Majority of vehicle owners are focusing on leveraging self-inflating tires concept in a bid to avoid unnecessary maintenance expenses.

ASEAN Automotive Aftermarket Market – Competitive Intelligence

The ASEAN automotive aftermarket market is fairly competitive with, leading players capturing around 30% of the overall market value.

Most of the automotive aftermarket repair service providers in ASEAN countries fail to facilitate customers with a wide range of maintenance and repair services. Consequently, shop owners are focusing on offering specific services, or expanding their service radar. Moreover, small-scale players are forming partnerships with fleet operators and leasing firms to provide optimum maintenance and replacement services at cost-effective prices.

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FMI, in its new market research study, delivers an unbiased analysis of the ASEAN automotive aftermarket market which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report provides complete analysis on ASEAN automotive aftermarket market through three different categories – by category, by vehicle type, and region. The global ASEAN automotive aftermarket market study offers insights of pricing by different life cycle analysis, product life cycle, key market trends and technologies that are being implemented in the development of the ASEAN automotive aftermarket and product adoption in various end-use industries.

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ASEAN Automotive Aftermarket Segmentation

To understand and assess opportunities in the ASEAN automotive aftermarket, we have divided the report into three sections based on market segmentation as under:

By Category

  • Parts
    • Tires
    • Batteries
    • Filters
    • StartersandAlternators
    • Lighting
    • Exhaustcomponents
    • Sparkplugs
    • Lubricants
    • Collisionbody
    • Wear and Tear Parts
  • Accessories
    • Interior
    • Exterior
  • Services
    • General automotive repair
    • Automotive transmission and others

By Vehicle Type

  • Passenger cars
  • Commercial Vehicle

By Country

  • Malaysia
  • Indonesia
  • Philippines
  • Vietnam
  • Singapore
  • Thailand
  • Rest of ASEAN

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ASEAN Automotive Aftermarket Market Outlook & Key Findings

  • The ASEAN automotive aftermarket market is expected to click US$ 19.4 Bn in 2020
  • Manufacturers to reap substantial revenues from automotive aftermarket parts through 2030
  • Passenger cars continues to account for greater demand for automotive aftermarket services over the decade ahead
  • Malaysia, Indonesia, and Thailand to collectively capture over 80% of overall market value

Top Reports Related To Automotive Market Insights

Off-Highway Vehicle (OHV) Telematics Market : As per the FMI’s study, off-highway vehicle (OHV) telematics market is poised to expand at an impressive 15.40% CAGR during the assessment period of 2021 and 2031. The market valuation will reach US$ 424 Mn in 2021.

Automotive Interior Leather Market : Globalization of the automobile industry and rising demand for automotive interior customization are expected to remain chief driving factors of the global automotive interior leather market. According to Future Market Insights (FMI), the global automotive interior leather market is estimated to be valued at ~US$ 29.9 Bn in 2021.

About 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, the global financial capital, and has delivery centers in the 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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Hand Tools Market Competitive Growth Strategies Based on Type, Applications, End User and Region

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

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In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for hand tools Market. The report tracks the global sales of hand tools in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the industrial, household, DIY sector in general, and hand tools in particular.

Key Takeaways of Hand Tools Market Study

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

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

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

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

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By Segmentation:

Product Type

  • General Purpose Tools
  • Metal Cutting Tools
  • Layout & Measuring Tools
  • Taps & Dies

Application

  • Industrial
  • Household and DIY

Sales Channel

  • Online Sales
  • Retail Sales
  • Distributor Sales

Region

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

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Competitive Analysis:

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

Rx to OTC Switch Market is predicted to expand at a CAGR of over 5% during the forecast period (2021–2031)

Rx-to-OTC switches refer to the transition from proven prescription drugs to nonprescription, OTC status. According to a report by Future Market Insights (FMI), the global Rx-to-OTC switches market was valued at US$ 33 Bn in 2020 and is predicted to expand at a CAGR of over 5% during the forecast period (2021–2031).

Scientifically, it is a rigorous and highly regulated process that allows consumers to purchase OTC access to a growing range of medicines. For a medicine to be granted under OTC status, it must comply with the regulatory standards associated with its efficacy, have a wide safety margin, and bolster labelling to ensure proper usage of the product.

The increasing prevalence of diseases with common self-treatable symptoms, such as cold and flu, headaches, allergies, and others has fuelled the demand for OTC drugs. Thus, growing sales of nonprescription drugs have pushed pharmaceutical companies to focus on Rx to OTC switches to meet customer needs thereby gaining high revenue in the market.

It was observed in 2020, Rx-to-OTC activity was driven by growing regulatory approvals and increased OTC sales. The COVID-19 outbreak has restricted patients to visit hospitals and clinics suffering from common illnesses. Consequently, delays in prescribed medication have shifted the customer preference towards the OTC drug consumption. As a result, the COVID 19 outbreak bolstered the demand for OTC products, which in turn has supported the adoption of Rx-to-OTC switches.

The Food and Drug Administration (FDA) introduced the non-prescription safe use regulatory expansion (NSURE) panel in 2013 that has supported a new wave of Rx-to-OTC switches, with a focus on creating conditions for switches in new therapeutic classes.

The introduction of the panel aimed to promote switches which had gained consumer attention, which in turn has aided the demand for the OTC drugs in the market.

rx to otc switches market sector region wise plc position and notable trends, 2021

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Key Takeaways from Rx-to-OTC Switches Market Study

  • Allergy and respiratory drugs are anticipated to gain a revenue share of more than 25% with a CAGR of 5.7% owing to the rising prevalence of lifestyle-based ailments.
  • Retail pharmacies are anticipated to grow at a CAGR of 5.1% over the forecast period owing to the rise of e-commerce and the procurement of cost-effective medicines.
  • The  U.K. holds the lead in Europe, holding a share of over 33% owing to the implementation of favorable government policies.
  • The U.S. will account for over 77% of the North America market by 2031, supported by a matured healthcare and pharmaceutical sector and favorable reimbursement policies.
  • China is the largest and fastest growing market in East Asia estimated to account for close to 49% of the global market, owing to the country’s large-scale pharmaceutical requirements.

 “Increasing global prevalence of allergies and common illnesses such as flu, coupled with rising awareness for self-medication practices, are driving the growth of the global Rx-to-OTC switches market,” says the FMI analyst.

Who is Winning?

Rx to OTC switches have led the pharmaceutical companies to shift focus from patients to consumers in terms of end users. In addition to strategic collaborations, acquisitions, expansion, product launches, agreements and research sponsorships are the key strategies adopted by manufacturers to expand their research and development (R&D) capabilities increasing sales in wider geographical base to strengthen product portfolios in the Rx-to-OTC switches market.

For instance, in January 2021, Boehringer Ingelheim entered into a collaborative agreement with Google Quantum AI (Google), focusing on researching and implementing cutting-edge use cases for quantum computing in pharmaceutical research and development (R&D).

Rx to OTC Switch Market by Category

Drug Category

  • Allergy and Respiratory
  • Fungal Infections & Other Infections
  • Overactive Bladder
  • Oral Contraceptives
  • Gastrointestinal Drugs
  • Hair Loss Treatments
  • Smoking Cessation
  • Analgesic, Inflammation And Pain Management
  • Others (Lice, Acne, Weight Loss, And Laxative)

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Distribution Channel

  • Retail Pharmacies
  • Hospital Pharmacies
  • Drug Stores
  • Online Pharmacies

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East and Africa (MEA)

Foodservice Equipment Market Competitive Growth Strategies Based on Type, Applications, End User and Region

Evolving food industry trends and changing dynamics of manufacturing and delivering methods in the foodservice industry are primarily shaping the market for foodservice equipment. Sales would multiply at a promising CAGR of over 5% during 2019 – 2029, as projected by a new Future Market Insights (FMI) report.

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Most restaurant owners are shifting towards smaller-sized kitchen equipment to optimize their space and perform multiple functions at the same time. Operators of food trucks and pop-up restaurants are on the lookout for equipment that can easily fit on a counter top and free up square footage for other essentials. These trends will remain pivotal in the market build-up over the following years.

Key Takeaways – Foodservice Equipment Market Study

  • Food tourism – a new global trend especially in millennials has played a vital role in driving interest in food experiences and has led to increase in the number of food tour companies. This increase will continue to push demand for professional foodservice equipment for proper food handling and hygiene.
  • Automatic, wireless, and aesthetic designs in foodservice equipment that fit in smaller floor spaces, and are amenable with rules set by regulatory bodies such as NSF, will gain more significance.
  • Emergence of equipment with multifunctional capabilities will weigh heavy on conventional models in the near future.
  • To gain an edge over competition and increase efficiency, restaurants and hotels are upgrading and replacing old foodservice equipment with convenient digital touch control foodservice equipment.
  • By eliminating the usage of natural resources, key players are focused on introducing new equipment with energy efficiency capabilities, leading to improved cooking and production time.
  • North America is projected to be a prominent regional market for foodservice equipment, owing to high demand for replacement and renovations, along with aftermarket parts and service offerings, especially in the U.S.

The demand for foodservice equipment is mainly defined by renovation activities and miniaturization of the equipment to fit in relatively small floor spaces. Product customization, with new space-saving installations in accordance with standards, rules, and codes will play an important role in the value chain of the market.

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By segmentation:

The global foodservice equipment market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Equipment

  • Food Preparation Equipment
    • Slicers & Peelers
    • Mixers & Grinders
    • Food Blenders
    • Processors
    • Others
  • Drink Preparation Equipment
    • Drink Blenders
    • Juicers
    • Ice Crushers
    • Others
  • Cooking Equipment
    • Grills
    • Fryers
    • Ovens
    • Toasters
    • Others
  • Heating & Holding Equipment
    • Warmers
    • Merchandisers
    • Sauce Dispensers
    • Others
  • Refrigerators & Chillers
  • Baking Equipment
  • Merchandisers
  • Dishwashers
    • Semi-integrated
    • Fully-integrated
    • Countertops/Benchtop & Portables
  • Other F&B Service Equipment

End Use

  • Full Service Restaurant & Bars
  • Quick Service Restaurant
  • Indoor and Outdoor Caterers
  • Hotels & Resorts
  • Club Restaurants
  • Commercial Canteens
    • Institutions & Offices
    • Hospitals
  • Transportation
    • Airways
    • Ships
    • Railways

Sales Channel

  • Physical Stores
  • Online Platforms

Region

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

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Competitive Analysis:

With more number of small-scale manufacturers having similar product offerings, the market structure would remain fragmented. Furthermore, the increasing number of players in the foodservice equipment market has been pushing manufacturers to include forward integration in terms of services and installation, by offering aftersales support. In terms of revenue, significant players such as Middleby Corporation, Welbilt, Ali Group S.r.l., ITW Food Equipment Group, AB Electrolux, Hoshizaki Electric Co., Ltd, Qingdao Haier Co., Ltd, and Rational AG together hold a significant share of market pie, backed by well-established sales networks and long-term partnerships with consumers.

Food Grade Gases Market will show a steady rise at 5.6% CAGR between 2019 and 2029

The global food grade gases market size is expected to reach US$ 9.19 Bn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 5.6% CAGR between 2019 and 2029. According to the report, growing demand for convenience food products and carbonated beverages have significantly fuelled the market for food-grade gases. Further, with the introduction of new products in the food industry and advancements in packaging technologies, there has been a growing need for food-grade gases for various end-uses. 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. However, supply chain disruptions and decelerated demand due to coronavirus may negatively impact growth

Moreover, the advancements in packaging technologies are creating significant demand for food-grade gases. However, COVID-19 is likely to pose a challenge to the market’s positive growth trajectory, by causing supply chain disruptions. The consequent upsurge in prices of raw materials is expected to hinder the profit margins of manufacturers.

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Furthermore, the unavailability of raw materials and the manpower shortage are hampering the overall workflow of the industry. If the pandemic prevailing for longer periods, the market will find it arduous to proliferate at the expected rate.

Global Food Grade Gases Market: BPS Analysis

Segmental Highlights

Carbon dioxide gas holds the lion’s share in market value owing to usage in the carbonation process in the manufacturing of soft drinks, beers, and other alcoholic drinks.

Freezing & chilling application segment accounts for the majority of market value, backed by the ability of food grade gases to prevent spoilage.

Packaging applications will register higher growth during the forecast period, on the back of technological advancements and wide adoption of food grade gases among manufacturers, consumers, and retailers.

Beverages segment will contribute a major chunk to global revenue by the end of the forecast period owing to rising adoption in the industry.

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North America currently leads the global food grade gases market and accounts for nearly 1/3rd of global market value. The region’s dominance is primarily attributed to the high demand for processed food, which utilizes food grade gases.

Asia Pacific (Excluding Japan) is exhibiting tremendous growth owing to the expansion of the food & beverage industry in India and China coupled with technological advancements in processing and rising consumption of processed food.

Analyst’s Viewpoint:

“The growth of the market is hugely attributed to the increasing use of gases such as carbon dioxide, nitrogen, etc., in carbonated drinks, which are gaining traction among end-users. On the other hand, the unforeseen of COVID-19, and the subsequent transport restrictions and national lockdowns are severely affecting the growth of the market”, says the FMI study.

FOOD GRADE GASES MARKET TAXONOMY

The global Food Grade Gases Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

Gas Type

  • Nitrogen
  • Carbon dioxide
  • Oxygen
  • Others

Product Type

  • Dairy and frozen products
  • Beverages
  • Fruits & vegetables
  • Meat
  • Fish & seafood
  • Bakery and confectionery
  • Others

Application

  • Freezing and chilling
  • Packaging
  • Carbonation
  • Others

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Table Of Content

1. Executive Summary

2. Market Overview

3. Market Background

4. Global Food Grade Gases Market Demand Analysis 2015-2019 and Forecast, 2020-2030

5. Global Food Grade Gases Market – Pricing Analysis

6. Global Food Grade Gases Market Demand (Size in US$ Mn) Analysis 2015-2019and Forecast, 2020-2030

7. Global Food Grade Gases Market Analysis 2015-2019and Forecast 2020-2030, By Gas type

8. Global Food Grade Gases Market Analysis 2015-2019and Forecast 2020-2030, By Product type

9. Global Food Grade Gases Market Analysis 2015-2019and Forecast 2020-2030, By Application

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.

Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/

Heat Pumps Market Competitive Growth Strategies Based on Type, Applications, End User and Region

According to FMI’s recent study, the global heat pumps market was valued at around US$ 32 Bn in 2019 and is estimated to expand at a CAGR of 5% over the forecast period of 2020-2030, with a limited impact of the current pandemic situation on long-term growth forecasts. Increasing demand for tech-advanced cooling solutions with low carbon footprint, government initiatives to curb greenhouse gas emissions, and advancements in heating, ventilation, and air conditioning (HVAC) systems are factors contributing to the revenue pool of the global heat pumps market.

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Energy-efficiency and environment-friendliness continue to be buzz words that impact production and demand of heat pumps. However, given that construction, especially in the residential segment, is a key determinant for demand of heat pumps, the drop in construction activity in almost all countries due to the COVID-19 pandemic has severely hurt the market. Some countries witnessed a drop in construction activity as high as 80 percent in 2020 when compared to the previous year. As a result, previous growth estimates for the market have been thrown awry and key players in the market have been forced to recalibrate their strategies.

As the world attempts to fight the COVID-19 pandemic, it has led to delayed production across several heat pump production facilities in major coronavirus hit countries such as the US, China, and Germany, This is expected to dampen heat pump sales by around US$ 1 Bn in 2020. Moreover, the COVID-19 pandemic will significantly impact consumer behavior in the short term, with domestic shipments from China for air source heat pumps (ASHPs) registering drop of over one-third in January 2020.

The global heat pumps market will witness v-shaped recovery growth, owing to rising inclination towards innovative construction solutions, especially in countries such as India, China, and Mexico.

Key Takeaways from Heat Pumps Market Study

  • Air-water heat pumps are finding immense use in domestic hot water, floor heating, and space heating/cooling applications.
  • Heat pumps having flexible or twin-speed features to reduce energy consumption and improve overall efficiency throughout are likely to garner substantial traction over the forecast period.
  • Demand for CO2 refrigerant heat pumps is expected to increase, given its excellent recyclability, low cost, and environment-friendly attributes.
  • Hybrid heat pumps are likely to see significant rise in adoption, owing to their high efficiency, lower energy consumption, and cost effectiveness as compared to other heat pumps.
  • Air-source heat pumps continue to grab huge attention of market players, owing to their low installation cost and high demand in North America and Western Europe.

“As the world moves towards sustainable and green energy solutions, heat pumps are expected to replace conventional heating systems rapidly in the near term. In addition, the ongoing coronavirus (COVID-19) spread can alter how companies organize their supply chains in the coming years, with more stress being layed on decentralization”.

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By Segmentation:

The global heat pumps market is segmented into six segments in detail to cover every aspect of the market and present complete market intelligence to the readers.

Type

  • Air-water Heat Pumps
  • Air-air Heat Pumps
  • Ground Source Heat Pumps
  • Hybrid Heat Pumps

Power Source

  • Electric
  • Others (Gas Driven)

End User

  • Residential
  • Commercial
  • Industrial

Refrigerants

  • HFC
  • CO2
  • Ammonia
  • Hydrocarbon
  • Others

System Type

  • Air-source Heat Pumps
  • Ductless Mini-split Heat Pumps
  • Geothermal Heat Pumps
  • Absorption Heat Pumps

Region

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

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Competitive Landscape

The study provides vital insights of the competition landscape in the heat pumps market, along with various strategies adopted by prominent players. The global heat pumps market is fairly competitive, with manufacturers offering identical products. Some of the key manufactures in the heat pumps market are Panasonic Corporation, Mitsubishi Electric Corporation, Daikin Group, NIBE Group, and Danfoss Group Global.

Cat Litter Market expected to rise at over 5.3% CAGR between 2021 and 2031

Driven by increasing adoption of pets across the globe, demand for Cat Litter Market is expected to rise at over 5.3% CAGR between 2021 and 2031. Increasing expenditure by cat owners on the care products will result in growing demand for cat litter.

Some of the leading companies operating in the cat litter market are extensively relying on e-commerce platforms to establish their global presence. On the back of this, market players are investing heavily in promotional activities and new product launches to woo cat owners.

Demand for natural cat litter is surging exponentially. This can be attributed to the rising number of cat owners who are increasing the adoption of natural cat litter such as plant fiber litters. Increasing awareness regarding environment also has bolstered the adoption of recyclable and eco-friendly cat litter.

Hence, the demand for pine, walnut, and corn cat litters is increasing. Steered by this, some of the leading market players are investing in research initiatives to offer eco-friendly cat litter, which also is available at an affordable price. For instance, Yesterday’s News, a brand of Nestle Purina, manufactures unscented cat litter from post-consumer waste derived from newspapers. These developments are expected to help in growth of the market in the coming years.

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As per FMI, clumping litter will emerged as a highly sought-after product category. The report has projected clumping litter to account for over 79.3% of overall sales registered in the market through 2031.

The private label brands are likely to get increasingly popular in the market. FMI has projected the demand in the private label segment to increase at 6.3% CAGR over the course of the report’s assessment period.

“Rapid digitalization and expansion of e-commerce platforms are compelling key manufacturers to focus on product innovation and new marketing strategies such as Instagram and Facebook marketing to expand their customer base,” says the Future Market Insights analyst.

Key Takeaways from Cat Litter Market Survey

  • Clumping litter will contribute for nearly 4/5th of global market share
  • Despite witnessing stagnant growth, fine clay litter will remain most preferred form owing to the low-cost
  • In terms of nature, conventional cat litter segment will project high growth, accounting for over 60.3% market share
  • As demand for cat litter is highest among adult cats, the segment accounts for roughly 78% of market revenue share through 2031
  • Online retailers are expected to be the primary sales channel for cat litter market
  • The U.S. is expected to account for over 76.5% of North America’s cat litter market share
  • Despite the high presence of prestigious brand across the U.K., the cat litter market is projected to grow at 2.8% CAGR
  • China is identified as one of the leading manufacturer of cat litter across East Asia, holding over 38% of market share
  • In 2031, India’s cat litter market will account for 21.7% of sales across South Asia

Key Drivers

  • Introduction of reusable and eco-friendly cat litter is improving the sales
  • Increasing investment in research by key players to reduce production cost will drive the sales of cat litter
  • Growing adoption of pets and cats, especially among millennials, will bolster the growth of cat litter market

Key Restraints

  • As silica granules are not absorbent, some cat owners have issues with the hygiene and related disease which increases the expense, this might hamper the sales
  • Due to the pungent and bitter smell caused by pine cat litter, many cat owners refrain from buying this cat litter, hindering the growth

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Competitive Landscape

As per Future Market Insights, Nestle Purina, The Clorox Company, Dr. Elsey’s, Kent Pet Group, and Tolsa Company are the top 5 players. New product offerings and promotional campaigns are some of the key expansion strategies adopted by aforementioned industry players.

  • In September 2021, Okocat, creator of next-generation plant and paper-based cat litter announced the expansion of its product portfolio through its online and offline franchise stores across Canada, which are available in its Pet Valu Stores.
  • In July 2021, Oil Dri Corporation announced the hike in its cat litter products prices during the FQ-22 across the U.S. and Canada. Through this the company intends to mitigate the impact of cost pressure of packaging, materials, and non-fuel manufacturing costs.
  • In November 2020, Nestle Purina announced the launch of its first cat litter, Tidy Cats Light Weight Free & Clean cat litter in a durable and refillable container available all across the U.S.

Prominent players operating in cat litter market profiled by Future Market Insights include:

  • Purina (Nestle SA)
  • Kent Pet Group
  • Dr. Elsey’s Cat Products
  • Church & Dwight Co.
  • Dirk Rossmann GmbH
  • Fressnapf Tiernahrungs GmbH
  • dm-drogerie markt GmbH + Co. KG
  • Arm & Hammer (Church & Dwight)
  • The Clorox Company
  • Mars Incorporated
  • J. RETTENMAIER & SÖHNE Gmbh + Co KG
  • H. von Gimborn GmbH.
  • Gruppo Laviosa Minerals Srl.
  • Tolsa Company
  • Others

More Valuable Insights on Market

In its latest report, Future Market Insights offers comprehensive insights on the global cat litter market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study offers incisive coverage on the global cat litter market with an unbiased analysis, segmented on the basis of:

By Product Type:

  • Clumping
  • Non-Clumping

By Material Type:

  • Clay
  • Silica
  • Plant Fibres
    • Pine
    • Paper/Wood
    • Walnut
    • Corn
    • Others (Wheat, Grass, Pea Fibres etc.)

By Life Stage:

  • Adult
  • Kitten

By Nature:

  • Natural
  • Conventional

By Type:

  • Scented/Fragrance
  • Unscented/Without Fragrance

By Form Type:

  • Clay
    • Fine Litter
    • Coarse Litter
  • Silica
    • Fine Litter
    • Coarse Litter
  • Plant Fibres
    • Fine Litter
    • Coarse Litter

By Price Range:

  • US$5–US$10
  • US$10–US$20
  • Above US$20

By Sales Channel:

  • Direct Sales Channel
  • Indirect Sales Channel
    • Hypermarkets/Supermarkets
    • Multi-Brand Stores
    • Pet Care Centres
    • Pet Specialty Stores
    • Online Retailers
    • Discount Stores
    • Drug Stores

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

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Key Questions Covered in the Cat Litter Market Report 

  • The report offers detailed insights into cat litter demand outlook for 2021-2031
  • The market study also highlights projected sales growth for cat litter market between 2021 and 2031
  • Cat litter market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
  • Cat litter market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Explore FMI’s Extensive Coverage on Consumer Product Domain

Smart Home Devices Market: The increasing customer preference for video doorbells, voice-assisted technologies (such as Alexa and Google Home), and security systems are anticipated to accelerate the smart home devices market. Because of the adoption of internet-enabled smart devices such as radio frequency identification (RFID), barcode scanners, and mobile computers, the overall IoT market is expected to develop.

Refurbished Printers Market: The sales of refurbished products have ballooned in the past few years. Consumers are increasingly gaining confidence in the refurbished printers as players t are engaged in offering extensive guarantees and warrantees. Besides this, small scale business units and start-ups are playing a key role in facilitating rise in adoption of refurbished printers in the market.

Vegan Footwear Market: The vegan footwear drive is backed by several leading names in the fashion industry. Veteran British designer Stella McCartney flagged the trend when she became the first luxury label to become vegetarian in 2001. Her fashion line has shunned the use of leather, fur, and feathers without compromising on quality and design aspects.

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.

Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com 
For Media Enquiries: press@futuremarketinsights.com 
Website: https://www.futuremarketinsights.com/ 
Report: https://www.futuremarketinsights.com/reports/global-cat-litter-market 
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