Natural Cosmetics Market for men is expected to remain strong going forward.

According to a recently published business intelligence report by Future Market Insights (FMI), the global natural cosmetics market was valued over US$ 36 Bn in 2019. Rising awareness about the side effects of chemical-based beauty products and the trend of ‘green beauty’ are encouraging manufacturers to increase the production of natural cosmetics to target and retain a large segment of consumers.

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Tata’s Natural Alchemy, LLC and Henkel AG & Company, KGaA are amongst the top companies introducing all chemical-free products in their portfolio, as consumers’ inclination towards cosmetics with natural, safer ingredients intensifies.

Natural Cosmetics for Male Consumers to Gain Traction in Future

Modern men are taking a keen interest in caring for their skin. A rising number of men are inclining towards personal grooming and boosting greater self-confidence by looking good. In recent times, men are no longer limiting themselves to only shaving products and deodorants and becoming a habitual user of skin and personal care products.

The organic and vegan beauty movement is also playing an important role in building male consumer base. Additionally, chemical-free skincare products are finding greater resonance among young men who choose to align themselves with renowned brands. This, in turn, is expected to fuel the demand for natural cosmetics for male consumers.

Key Takeaways – Natural Cosmetics Market Study 

  • In comparison with demand in commercial spaces such as salons & spa, household consumption of natural cosmetics remain on higher side. Adoption of natural cosmetics in households accounts for approximately 2/3rd of the market revenue.
  • As per the FMI’s study, hair care and skincare natural cosmetics account for more than 50% of the total sales. Growing demand for these traditional products with organic and plant-based ingredients is expected to complement the market growth.
  • In 2019, sales of unisex natural cosmetics held over 1/4th of the total revenue. On the contrary, natural cosmetics for men are expected to witness higher demand over the forecast period.
  • Sales of natural cosmetics through wholesalers or distributors continue to account for high share of the global market value.
  • In order to strengthen their distribution network and increase consumer base, manufacturers are directing their sales towards convenience store and hypermarkets/supermarkets.
  • Distribution via online stores is expected to gain tremendous popularity in the near future.

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Europe Captures Major Market Share

Over the forecast period, Europe will continue to hold a significant share in the global natural cosmetics market. European Union has set up a sophisticated legislative framework for players to enter the natural cosmetics market. It assures that products sold in the EU market should fulfil the required standards.

In addition, European consumers widely prefer natural and plant-based products as the region support sustainability, which, in turn, is fueling the market growth. Demand will remain concentrated in Germany, Spain, France, Italy, and the UK and the presence of a larger distribution network with various sales channels will continue to attract new consumers.

More Valuable Insights

FMI’s report on the natural cosmetics market is segmented into five major sections-

Product

  • Skincare
  • Haircare
  • Fragrance
  • Toiletries

Application

  • Male
  • Female
  • Unisex
  • Baby

End-use

  • Personal care
  • Salon & spa

Sales Region

  • Hypermarket/Supermarket
  • Online Stores
  • Convenience Stores
  • Specialty Stores
  • Wholesale/Distributors
  • Club Stores

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And region to help readers understand and evaluate lucrative opportunities in the global natural cosmetics market.

About Consumer Products division of FMI

Expert analysis, in-depth insights, and strategic recommendations – the Retail & Consumer Products team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 500+ reports, the team has analyzed the consumer goods industry lucidly in 80+ countries for over a decade. We provide end-to-end research database on retail & consumer products market and consulting services; reach out to explore how we can help.

Hand Tools Market Latest Advancements and Business Opportunities 2027

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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Customers have been increasingly adopting self-help approaches to modify and repair their homes. Furthermore, the primary factor driving the growth of the hand tool market is the increasing use of hand tools in the automotive industry for repair & maintenance purposes. Moreover, the increase in the use of hand tools in industrial applications is another driver of overall hand tools market growth.  As per FMI, the industrial segment will account for over 60% of hand tools sales through the course of the report’s forecast period.

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.

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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.

Who is winning?

The hand tools market is a very competitive owing to presence of large number of small and medium sized manufacturers in the market. Leading manufacturers are gradually concentrating on positioning innovative technologies to design hand tools to improve the operating efficiency of commercial and industrial facilities. There is a fair amount of emphasis on innovation. Businesses functional in the hand tools market seek strategic collaborations with regional end-users and distributors to meet the needs of a growing consumer base.

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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

Pallet Pooling Market to Grow at Robust CAGR by 2029

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.

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.

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 “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.”

Pallet Pooling Market: 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.

Focus on Technological Advancements in Pallet Pooling

Increasing requirement of technologically-advanced pallet systems throughout the supply chain for lean management is anticipated to support the future growth of the global pallet pooling market.

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Find More Insights on Pallet Pooling Market

The research report analyzes the total sales value of the pallet pooling market on the basis of revenue generated by market players from the target product. The market is forecasted on the basis of factors such as warehouse traffic flow, adoption rate, government regulations, and sustainable development. The scope of the research report includes pallet management services catering to FMCG, food & beverages, chemicals & pharmaceuticals, and other related end-use industries.

Medical Loupes Market to Grow at 5.4% CAGR through 2029

As the world continues to deal with COVID-19 pandemic, the global market for medical loupes will decline during Q1 and Q2 of 2020 before returning to healthy growth in 2021, according to Future Market Insights (FMI) Yearly Medical Loupes Tracker.

The market has confronted a temporary setback in 2020 as supply chain disturbances have impacted revenue pool during early months and estimated product shipments have slowed the market mid-year.

That said, FMI estimates shipments of medical loupes to grow rapidly with CAGR of 5.4% from 2019 through 2029 as manufacturers and customers continue to invest in technology.

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Medical Loupes Market Size Study

  • Sales of medical loupes to rise at 5.4% CAGR during 2019-2029
  • Flip up loupes continue to capture leading revenue share, about 60%
  • About 6 out of 10 medical loupes to be sold will have Galilean lens, given their high magnification level, minimal weight, and easy usage
  • Adoption of medical loupes will remain high in surgical procedures through 2029
  • Markey players to remain glued to offline channels for sales of medical loupes over following decade
  • Substantial sales to come from North America, markets in East and South Asia to experience tremendous growth

“Tech-advanced products are continuously required in medical device industry. Safe and high-tech medical equipment curb medical expenses for patients. Medical loupes are becoming increasingly advanced with regards to magnification power, product weight, and high powered optics. Tech-enabled transformation will enable market players to boost revenues, expand margins, and pursue new revenue lines with innovative business models,” says analyst at FMI.

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COVID-19 Impact on Medical Loupes Market

The impact of COVID-19 pandemic has been negative on medical loupes market as several aesthetic procedures – liposuction surgery, breast implantation, and non-essential dental procedures – have been delayed due to pandemic-induced restrictions.

In order to free up limited space for individuals getting treated for COVID-19, hospitals have postponed – or canceled – several elective operations, particularly those considered non-urgent or non- essential.

Recent estimates have revealed that 15-30% of elective surgeries have been canceled in March 2020. Global market bariatric surgeries, implants, and cosmetic procedures will remain particularly vulnerable as these procedures are non-urgent, and can be delayed without significantly impacting quality of life.

That said, surgeries will return to pre-crisis rates by Q4 2020, with total numbers returning to pre-crisis levels by Q1 2022.

Medical Loupes Market – Competitive Intelligence

The global medical loupes market is fairly consolidated, wherein leading players are highly focused on developing innovative products to broaden their product portfolio as well as regional footprint. At present, market players are investing in R&D activities to come up with cutting-edge technologies. For instance,

  • Schultz Optical Co. Inc. has rolled out dental surgical loupes that offer 25% larger viewing field compared to others, and up to 5.5x magnification, as well as are lightweight, making dental surgeries extremely easier compared to conventional versions.
  • SurgiTel has developed two sorts of customized loupes – through-the-lens (TTL) loupes and front-lens-mounted (FLM) loupes. Customized FLM loupes allow re-adjustment of declination angle and field shape as per user requirement.

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Want to Know More About Medical Loupes Market?

Future Market Insights, in its new study, provides compelling insights about the medical loupes market that encloses industry analysis for 2015 – 2019 and opportunity assessment for 2020 – 2030. The report offers unbiased assessment on medical loupes market through five different categories – type, lens type, application, sales channel, and region. The global medical loupes market research study delivers insights of pricing by different life cycle analysis, product life cycle, major market trends and technologies that are being utilized in the development of medical loupes as well as their adoption in various end users.

Sun Care Products Market Witness a Spike in Growth Pace Recent Improvements in Pricing Models: FMI

Global demand for sun care products witnessed a decline in 2020, but the long-run prospects continue to be positive, according to a study by Future Market Insights (FMI). The study opines that market can see pre-COVID level activity in 2019.

FMI analysts opine that organic – which has made deep inroads into many F&B and cosmetics categories – is also making a mark in the sun care products landscape, with many consumers diligently checking labeling to know the ingredients.

The market has witnessed steady growth in the past few years, especially on the account of active ingredient incorporation, and the development of multifunctional formulations, which not only protect the user from the sun, but also provide skin lightening and anti-aging characteristics, which are also likely to boost growth.

Nanoparticles such as zinc oxide and titanium dioxide are finding application in sun care product formulations, enabling uniform application, lower residue and higher product efficacy, which is considered to help in popularity of these products among potential buyers.

Strict regulations associated with ingredients and labeling in the North American and European industries, coupled with lower awareness about the risks of sunlight exposure in rural areas and developing countries are key challenges for market players.

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FMI’s report offers an exhaustive overview, covering key market dynamics. Some of the takeaways from the report include,

  • Market valued at US$ 11 billion, with demand slowing down during the coronavirus pandemic
  • Sun care creams expected to remain highly sought-after on the back of easier application, and potential for optimized skin nutrition profiles
  • Sales of sun care products higher in women as compared to men
  • US and EU4 key to growth. However, many countries in Asia Pacific are displaying highly lucrative opportunities for manufacturers for geographical expansion.

“Manufacturers have transitioned to natural and organic ingredients to appeal to new consumer demographics. In addition, the extraction of natural ingredients provides better margins through cheaper raw materials,” said a lead analyst at FMI.

Covid-19 Impact on Sun Care Products Market

The global personal care and cosmetic industry has felt a substantial impact of the coronavirus crisis. Sales in the first half of 2020 have been largely weak. In addition, the large number of retail store closures have also affected the market.

Consumer priorities to spend discretionary income on essential commodities, coupled with the reduction in travel and outdoor recreational activities during the crisis are likely to hold back sales.

On the other hand, online sales of sun care products will witness strong growth, partially offsetting losses incurred by in-store sales.

Recovery of conventional sales and distribution is likely to be gradual. Market players are pushing for changes in promotion including significant discounts to move unsold seasonal inventory in the near term.

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Who is Winning?

In its study, FMI has scrutinized the different strategies deployed my major companies participating in the sun care products market. Leading market players are focused on the development of novel formulations and strategic geographical and capacity expansion with acquisitions being a major area of focus.

Some of the key players in the market include Johnson & Johnson, Shiseido Company Limited, Beiersdorf AG, Loreal SA, The Procter & Gamble Company, Unilever, The Estee Lauder Companies Inc., Lotus Herbal Pvt. Ltd., Avon Products Inc., and Bayer AG, among others.

Key Segments

Product Type

  • Creams
  • Lotions, Gels, & Oils
  • Others

Nature

  • Organic
  • Conventional

End User

  • Male
  • Female
  • Kids

Sales Channel

  • Wholesalers and Distributors
  • Online Retailers
  • Hypermarkets and Supermarkets
  • Pharmacy Stores
  • Specialty Stores
  • Convenience Stores
  • Others

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More Insights

Future Market Insights, in its new report, presents a detailed analysis of the global sun care products market, covering historical demand data and forecast figures for the period between 2020 and 2030. The market report provides extensive assessment of product pricing by different key market dynamics, life cycle analysis, and technologies that are being used in the production of sun care products and adoption across different demographics.

Pet Dietary Supplements Market Will Reach A Valuation Of US$ 3.78 Bn By 2021

Pet humanization is a growing trend where owners are treating their pets as counterparts and wanting to provide their pets with best nutrition for their wellbeing. With pet ownership becoming widespread, Future Market Insights (FMI) in a new study has projected the pet dietary supplements market to record impressive growth. According to the report, the market will reach a valuation of US$ 3.78 Bn by 2021.

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Pet parenting or pet humanization has been fuelling the demand for pet dietary supplements. This trend is being mirrored in the high frequency of the launch of innovative formulations in the market. According to Pet Food Processing, 45 new nutritional products for pets were launched in 2020.

The pet owner’s love for their pets is driving the demand for pet dietary supplements, besides the fact that supplements ensure that the pets receive proper nutrition, which off-the-shelf pet foods might be void of. Additionally, pet dietary supplements find demand among the millennial care takers.

Millennial, who account for a majority of pet owners, also think that pets deserve the same treatment as small children, thus explaining the demand for pet dietary supplements. Natural and organic pet supplements are becoming increasingly popular. Herbs and superfood are being incorporated into the pet supplements, which will aid the overall market expansion.

Probiotic Supplements to Be Highly Sought-after

As in case of humans, probiotic supplements for dogs are used to aid digestive health and regularity. Probiotic nutritional supplements facilitate the regulation of the good bacteria in the digestive system that helps to break down dog food so that nutrients can be better extracted. The probiotic supplements can also inhibit the growth of harmful bacteria that can make both humans and dogs sick, an example of which is E. coli.

Obesity is a growing health problem among pets, encouraging an increasing number of veterinary practioners to open weight-loss clinics. According to the Association for Pet Obesity Prevention, 59% of cats and 54% of dogs in the U.S. were overweight or obese in 2016, and this concern has increased over the recent years. Weight management is trending within the pet industry and dietary changes are being taken care of so as to regulate the pet weight and ensure its health.

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This change in consumer buying preference has encouraged the players in the market to focus on innovation and expand the portfolio, tapping the unexposed segments of the industry and as a result escalating the demand over the forecast period.  FMI in its latest study has forecast the market to rise at a CAGR of 7.1% between 2020 and 2030.

Key Takeaways from the Pet Dietary Supplements Market Study

  • FMI in its latest study has forecast the pet dietary supplements market to rise at a CAGR of 7.1% between 2020 and 2030
  • The U.S. will continue exhibiting strong demand and account for nearly 88% of the North America market
  • The demand from the U.K. will remain steady as FMI projects it to exhibit 3.8% Y-o-Y growth in 2021
  • Increasing pet ownership will support growth in Germany and France
  • Japan and South Korea will emerge as key markets in East Asia

 “Consumers’ awareness regarding pet health is rising, which in turn is increasing the demand for pet dietary supplements. Moreover, increasing focus of companies on advertisement and promotion of pet dietary supplements is positively aiding expansion of the market,” said an FMI analyst.

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Disruptions Caused Due to COVID-19 Impacting Sales

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

E-Commerce is redefining the commercial activities around the world. In fact, the Covid-19 pandemic and lockdown effects have tipped the involvement of e-Commerce within all industries. The segment of population not prevalent with internet retailing has also adopted it, it being the only resort. There is a lot of opportunity for companies and online services to work together to offer greater engagement to consumers.

Who is winning?

A few of the key players in the pet dietary supplements market are Nestle SA, Mars Incorporated, NOW Foods, Blue Buffalo Co Ltd., Ark Naturals, Virbac, Novotech Nutraceuticals, Inc., Zoetis, PetAG, Inc., VetClassics and GNC, among others.

Plywood Market By Size, Thickness, Grade, Wood Type, Number of Ply, Sales Channel, Application & Region for 2022 – 2028

[400 pages Report] The global plywood market size is estimated to be valued at US$ 80.5 Bn in 2022, and register a CAGR of 6.1% to reach a valuation of US$ 115 Bn by 2028.

Global infrastructural development has reached newer heights in the last few years, with massive constructions – both residential and commercial – mushrooming across both Tier 1 and Tier 2 cities across the world. This has led to impressive growth of the global building and construction industry and as a consequence positively impacted revenues of ancillary industries. Plywood is an inherent component of the construction industry – being widely used in manufacturing readymade and customised furniture.

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“Growth in global consumption of plywood is pegged to increase at a decadal rate of 4.6% to reach 164,402 cubic meters by the end of 2022. This growth is attributable to the continuous demand from end-use industries especially the furniture production industry.” — Future Market Insights

Future Market Insights (FMI) throws light on some of the key factors boosting revenues in the global market for plywood. Plywood finds increasing use across diverse applications ranging from furniture, flooring, and packaging of high-value goods. This is anticipated to boost sales of plywood in the global market, according to Future Market Insights forecasts. A growth in residential and commercial spaces across the world has further boosted the demand for readymade and aesthetically designed furniture, incorporating extensive use of plywood. With people opting for designer furniture, the demand for plywood from the furniture industry is already peaking and this is anticipated to augment revenues in the global plywood market.

Besides, there is an increasing global phenomena promoting the use of wood and wood based products in the construction of both residential as well as commercial buildings. This trend is being supported by laws enforced at the administrative level. For instance, Japan’s “Act for Promotion of Use of Wood Products in Public Buildings, 2010” seeks to encourage the use of plywood in the construction sector. Global construction projects focusing on wooden skyscrapers such as the Oakwood Timber Tower are also expected to positively impact demand for plywood in the coming years.

Wood and wood based products such as plywood are eco-friendly in nature, encouraging the plantation of trees to meet the rising demand. Plywood and other ancillary wood products contribute to environmental protection. This is another factor acting in favour of the plywood market.

This study by FMI on the plywood market further identifies the growing importance of plywood in the global packaging industry as a key demand driver. “Plywood has enhanced mechanical strength besides being lightweight in nature. Plywood is also reusable and helps save on costs. This makes plywood the best packaging option for various types of products. With the current ban on plastic for product packaging, plywood is being increasingly adopted as a highly effective raw material to package different types of goods. This is expected to boost revenues in the global plywood market.”

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Lucrative Opportunities Lie in the African Timberlands for both Existing Players and New Market Entrants

The presence of vast expanses of land in Africa coupled with the overall low costs of maintenance and production in the region make Africa a very attractive choice for the growth of forestry and the manufacturing of wood products, particularly plywood. Manufacturers in the global plywood market are looking at lucrative growth prospects in the African continent, given the region’s huge natural timberlands and mature plantations. Harvesting of plywood in the African forests is both cost-effective and environment friendly. This is boosting the setting up of backward integrated units manufacturing plywood, hence creating highly lucrative opportunities for players in the global plywood market.

Massive growth of the global construction industry has resulted in the pumping in of huge infrastructure investments by both private sector and public sector enterprises. This is likely to broaden the horizon for regional manufacturers of plywood with endless possibilities for revenue growth.

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Adoption of Plywood in Digital Printing Trending the Global Market

Plywood is increasingly finding application as a substrate in high-scale inkjet printing projects. Plywood is used as an alternative to aluminium and plastic sheets owing to its non-reflective nature. Digitally printed plywood serves as an excellent substitute for several outdoor applications such as fence and road signs, as it is highly durable. This is the latest trend dotting the global plywood landscape, pushing revenues in the global market.

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Pet Care Market registering above average CAGR of 9.7% between 2021 and 2031

Future Market Insights (FMI) in its latest study has forecast the global pet care market to rise at a CAGR of ~6.0% between 2021 and 2031. The increasing awareness about ingredients used in pet food products has made pet owners conscious while selecting food options for their pets.

Pet owners are aware about health benefits of natural and organic ingredients in pet care products. This has been giving tailwinds to the demand for organic and natural formulations. Pet owners prefer products that are free from artificial colors and preservatives, while providing a balanced nutritional profile for pets.

As per a report by the Association for Pet Obesity Prevention, it is estimated that 55% of dogs and cats in the U.S. are obese. This presents a huge opportunity for manufacturers to add quality ingredients and diet research to launch value added products to meet growing consumer interest towards premium products.

Product launches with value-added quality ingredients supports the demand for pet care products contributing to long term growth prospects. Taking advantage of this prevailing trend, companies in the market are expanding their offerings to include natural and organic options.

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For instance, the Kroger Co. offers natural food products for pets with proteins and essential nutrients. Besides, GMO (genetically organism free) food products are also available for pets in the market.

The rise in the number of pet owners and the growing awareness of veterinary health and investments into animal health organizations are swiftly boosting the prospects of manufacturers through the upcoming decade.

Key Takeaways from the Pet Care Market Study

  • Pet food is expected to hold a noteworthy revenue share of over 65% of all product sales. The growth is attributed to the demand for premium, natural, and organic ingredients.
  • Pet care for dogs is expected to contribute revenue share of 35.1% in 2021. The role of dogs as companions and the resulting humanization drives associated sales.
  • The U.S. leads the North America market accounting for 90% value share by 2031 owing to higher purchasing power.
  • The U.K. accounts for more than 25% of the Europe market with concerns over pet health and investments into product innovation.
  • China and South Korea are considered high growth markets for pet care in East Asia, reflecting a CAGR of over 14% with the penetration of key players with premium products.

“Growing acceptance of technologically advanced automated pet care products, and increasing expenditure driven by trends of pet humanization will influence the revenue generation opportunities in the pet care market through 2031,” says an FMI analyst.

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Impact of COVID-19 on the Market

The outbreak of the novel coronavirus has resulted in an economic downswing owing to disruptions in business operations in various verticals. The retail industry is one of the hardest hit sectors in this crisis. Reduction in the overall discretionary spending, is a temporary challenge for the players.

Many daycare centers and pet hotels were made temporarily non-operational, which has further caused a temporary decrease in the overall revenue of the pet care market. In light of this situation, players are now focused on improving online penetration, as this provides an opportunity to access a wider consumer base at once within minimum costs.

Who is Winning?

Major players present in the pet care market are focusing on aggressive promotional strategies, advertisements, and new product launches have driven sales growth of pet care products and services globally.

Some of the leading players in the industry are Procter & Gamble Co., JM Smucker Co, Nestlé Purina Pet Care Co, Monge & C. Spa, Hill’s Pet Nutrition SNC, Royal Canin SAS, Affinity Petcare France SA, Champion Pet Foods LP, Cargill, C & D Foods, Aller Petfood, Bob Martin, Blue Buffalo Co. Ltd., Cambrian Pet Foods Ltd., Crosswind Industries Inc., and Crown Pet Foods Ltd., among others.

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Get Valuable Insights into Pet Care Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global pet care market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the pet care market based on the service (product{ pet food, pet healthcare, fashion, toys, and accessories}, professional service {day care, grooming boarding, pet breeding and training} value added services {insurance, veterinary care, pharmacy, adoption and charity, crisis relief service}) pet type (dogs, cats, birds, fish and reptiles, small pets, and horses & other livestock), service channel (modern trade, convenience stores, care services centres, veterinary clinics, online retailers, support care centres and pet specialty stores across seven major regions.

Elevator And Escalator Market Is Anticipated To Witness Growth Of ~6.6% CAGR During The Forecast Period From The Year 2020 To 2030

Elevator and Escalator Market is anticipated to witness growth of ~6.6% CAGR during the forecast period from the year 2020 to 2030.Expansion of the building and construction industry has been a chief driver of the global elevator and escalator market. Elevators and escalators being an integral part of the residential as well commercial buildings are witnessing impressive surge in demand all over the world.

Advancement in the Internet of Things (IoT) technology is further catering to the market growth with the rising incorporation of ultra-modern facilities starting from elevator safety solutions to elevator air purification equipment.

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Companies operating in the elevator and escalator market are focusing on cutting-edge technologies to make their products safer and eco-friendly, finds Future Market Insights (FMI) in a recent study.

Some of the leading companies are incorporating IoT technologies in connected elevators and escalators. This has allowed them to control various parameters such as load capacity, frequency of usage, and others. Such technological improvements are expected to bode well for the overall market.

According to FMI, the elevator and escalator market is anticipated to witness growth of ~6.6% CAGR during the forecast period from the year 2020 to 2030.

Infrastructural development witnessed across the world, besides increase in population is encouraging growth in the construction industry. This has been creating growth opportunities for the elevator and escalator market. Despite requiring expert handling and maintenance expenditure, the demand for elevators and escalators are projected to increase further in the coming years.

The recent COVID-19 outbreak has resulted in declining market growth. However, several factors are expected to drive the elevator and escalator market during the forecast period.

FMI offers an exhaustive overview of the elevator and escalator market along with its potential, growth drivers and restraints.

Some of the key takeaways from the report are highlighted below-
  • Product-wise, elevator is expected to lead the market followed by escalator during the forecast period
  • Load type-wise, passenger segment will exhibit hegemony in the coming years
  • New system installation type is set to gain traction in the global market
  • Commercial end use segment is projected to exhibit highest growth followed by the residential segment throughout the forecast period
  • New-age IoT technology will cater to the steady market growth in the near future
  • East Asia elevator and escalator market will maintain the lead while emerging as the highest growing market among all other regions

 “As the building and construction industry is expanding rapidly, the demand for elevators and escalators is rising higher. To capitalize on prevailing opportunities, market players are launching novel cutting-edge technologies that offer more sophisticated functionalities in elevator and escalator. This is anticipated to create lucrative growth opportunities for the market in the coming years,” says an FMI analyst.

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COVID-19 Impact Analysis

The elevator and escalator market growth has been declining due to the novel coronavirus outbreak. As consumers have shifted their focus more on emergency services such as medical, diagnostic, pharmaceutical and others instead of building and construction sectors, the market growth rate has fallen temporarily.

Added to this, the factors such as non-operational manufacturing units, unavailability of labours, scarcity of raw materials, disruptive supply chain and logistics sector, financial crisis, job recession, and others have slowed down the progress of market.

According to FMI, the elevator and escalator market is set to recover by the first quarter of the year 2021.

Who is Winning

As the elevator and escalator market potential is rising steadily, the key market players are focusing on launching advanced designs to gain competitive edge. For instance, DOPPLER S.A. has launched their DOPPLER Lift Hygiene Solutions equipped with air sterilizer using UV photo catalyst sterilization and UV antibacterial light disinfection system in 2020.

Kone Corporation has launched Kone Health & Wellbeing Solutions for Elevators and Escalators which include escalator handrail sanitizer, elevator remote call using whatsapp, elevator air purifier, and others in June 2020.

Some of the leading companies operating in the market are DOPPLER S.A, Kone Corporation, Orona Group, EMAK Elevator, Sanyo Elevator (Zhuhai) Co., Ltd, and others.

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Key Segments

Product Type

  • Elevator
    • Hydraulic
    • Traction
    • Machine
    • Room Less
  • Vacuum
  • Escalator
    • Step Type
    • Belt Type
    • Cleat Type
    • Spiral

Load Type

  • Passenger
  • Freight
  • Observation
  • Others

Installation

  • New
    • System
    • Installation
  • Retrofit

End Use

  • Residential
    •  Low Rise Building
    • Mid Rise Building
    • High Rise Building
  • Commercial
    •  Hotels
    • Airports
    • Subway Station
    • Commercial
    • Complex
    • Office & Institution
  • Hospital
  • Infrastructure & Construction
  • Transportation &Logistics

Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Middle East and Africa
  • Japan

Blinds And Shades Market is expected to surpass a valuation CAGR of approximately 4.4% through 2029

According to a recent report by Future Market Insights (FMI), blind & shades market is expected to surpass a valuation of US$ 13.6 Bn in 2021 and at a CAGR of approximately 4.4% through 2029.

Customer’s increasing surge for personalized control on the management of the light and air, is encouraging manufacturers to launch innovative blind & shades in the market with their increasing focus on fully automated products.

Furthermore, smart-phone enabled operations associated with blind & shades is registering new opportunities for the global market. In addition, development of blinds integrated with the voice recognition technology is transforming the home décor industry trends which in turn is positively influencing growth of global blind and shades market in terms of value.

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For example, IKEA has developed remote-controlled blinds equipped with voice recognition features and a smart lightning kit. These automated shades can also be controlled via smartphones for customized experience and are compatible with AI-enabled virtual assistant, including Alexa, and Google Assistant.

Moreover, in the blinds and shades market, manufacturers have the option of producing eco-friendly blind and shades. In the current market, only a few companies are creating eco-friendly blind and shades, which opens up potential for other businesses to invest in sustainable interior décor items.

Growing consumer knowledge of sustainable or eco-friendly products is expected to influence their purchasing decisions. As a result, the market in developed nations with strong consumer awareness has the potential to grow.

Key Takeaways from the Blind & Shades Market Study

  • Blinds and shades made of natural fibers is witnessing a significant growth in the global market. The customer’s awareness for their health and for environment is significantly supporting sales of natural blinds and shades.
  • East & South Asia would remain the prominent region in the global blinds & shades market owing to rapid expansion of residential sector. E-commerce expansion will also be pivotal in accelerating the market build-up in this region.
  • Smart windows are leaping the sales of blind & shades due to growing innovations such as windows controlled by a click of a button using rechargeable batteries and voice-activated window coverings.
  • The U.S. is expected to register a CAGR of 2.2% in North America due to increasing trend of customized blind & shades as well as smartphone controlled blind & shades.

“Adoption of omnichannel sales strategy by manufacturers and growing customer inclination towards natural material-based blinds & shades are expected to offer significant market growth opportunities.” says an FMI analyst.

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Impact of COVID-19 on the Market

The COVID-19 pandemic had a significant influence on the world economy at numerous levels, and this impact was felt to a large extent in the construction industry. The COVID-19 pandemic issue also had an impact on the blind and shade market, which saw a significant drop in demand in 2020.

The COVID-19 outbreak affected the supply and delivery of construction materials, causing governments to enact lockdown. The transfer of activities in operations and vendor operations impacted the manufacturing. The blind and shade production process has become a headache for enterprises due to limited labour availability, disrupted raw material supply, and logistical challenges.

Who is winning?

Leading manufacturers of blind & shades are focused on aggressive promotional strategies and advertisements that have driven sales growth of Blind & Shades globally.

Major players present in the blind & shades market are Ching Feng Home Fashions Co., Ltd., Griesser AG Electrocomponents PLC, Hunter Douglas NV, Lafayette Venetian Blind Inc., Legrand, Lutron Electronics Company, Mechoshade Systems LLC, Nien Made Enterprise Co. Ltd., Persianas Canet S.A, Qmotion Shades, Schenker Storen AG, Solarfective Products Limited, Springs Window Fashions LLC, TOSO CO. LTD. among others.

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