Market Research Blog – Page 16066 – New Product Development

Increasing Patient Pool from COPD & Cystic Fibrosis Boosting Mucus Clearance Devices Market Demand

Mucus clearance devices are viewed as therapeutically essential for the treatment of asthma, bronchiectasis, cystic fibrosis, and COPD. Increment in the number of solicitations regarding traveling with PEP machines universally is boosting the worldwide market for mucus clearance devices. PEP is the standard treatment that is required, and it provides generous medical advantages when it is utilized as prescribed. Additionally, the presentation of not many devices, for example, Acapella, Flutter, The Lung Flute, Aerobika, and others, has impelled the worldwide market. This has at last boosted the popularity of OPEP and PEP devices, which is another aspect that is likely to fuel the market revenue development over the conjectured time frame. The market is slated to expand 1.8X during 2018 and 2028.

The device suppliers of mucus clearance are basically concentrating on offering full support, which is probably going to give thorough data about an assortment of respiratory disorders. Organizations are increasingly centered around keeping up a patient-driven culture. Novel products cultivate patient engagement with HFCWO, OPEP, and PEP treatment, which enhances adherence to the prescribed treatment along with better patient results in clinics and home care settings. The expanding utilization of these devices in home settings, altering healthcare guidelines, and the prerequisites of insurance payers are amid the aspects expected to altogether alter the job of patients, payers, and physicians. In this way, the expanding implementation of mucus clearance devices in homecare settings will push the market throughout the estimated time frame.

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North America is the largest region in the worldwide market for mucus clearance devices, with more than two-fifth of the overall market volume. North America’s market is trailed by East Asia and Europe, and according to a report published by FMI, the market centers to attract prospects dwelling in South Africa, Brazil, and India. Sales of mucus clearance device reflect an exceptional rate in Latin America, East Asia, and South Asia, maintained by a few macro trends that run from government center around expanding the customer care services and reimbursement support, to salesforce extension efforts of the care providers and regional makers.

Market players are shifting their manufacturing facilities to developing economies considering their simplicity access to resources and increasingly rewarding market positioning of products, considering the dormant development potency of these countries. Top suppliers and distributors working in the worldwide market for mucus clearance devices are peering toward prospects in the E-commerce industry. Online sales and the introduction of innovative mucus clearance devices are being rehearsed by various organizations to limit costs related to, distribution, and supply. Online accessibility additionally will in the general draw in a more extensive consumer base as it allows product comparison, as indicated in the research.

Market prospects stay bullish for the mucus clearance devices scenario, ascribed to a limited extent to the potential extent of mixed treatments. More noteworthy reliability as well as helpful reimbursement policies, alongside the prerequisite for numerous devices in most high- risk patients, on the whole imply high development in acceptance of combination treatments in the marketplace.

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About Us

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

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Medical Procedure Trays Market to See Higher Demand Due to Treatment for the Affected Populace

Rising chronic diseases, aging population, and surgeries are probably going to affect the need for medical procedure trays. The need for sterilization and hygiene of medical instruments by health facilities to enhance healthcare services is upheld by different government guidelines and rules. Contamination-free and sterilization medical procedure trays confine the human mistakes as there is the least contact of people with the medical procedure trays. The package could be straightforwardly utilized by the surgeon which shields the hygiene practices.

This tray upgrades accuracy, productivity, and efficiency as time management is one of the most significant parts of the human healthcare sector. Moreover, hospitals can gain the medical procedure trays in mass which permit preparedness for emergencies and cost-efficiency. In this way, these trays help to enhance the nature of services as they increment inventory management productivity. It disposes of the requirement to stock each surgical instrument or tool independently than could bring about complex stock administration. Also, it could be stored at one spot which decreases the capacity concerns and limits the danger of human error in social gathering certain instruments or assembling erroneous instrument which can prompt incidents and wastage of time. This is probably going to help the market demand in approaching years.

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Key Takeaways from Market Research

North America is foreseen to direct the worldwide market because of the improvements in the biotechnology and medical facilities.
The APAC district is probably going to expand inferable from its increasing populace and growth in healthcare facilities.
Factors, for example, establishing new healthcare facilities, for example, hospitals and clinics, the government’s drive for progressions of medical facilities is anticipated to going to boost the need for medical procedure tray.
Moreover, the need for cutting edge clinical instruments and equipment by emerging countries, for example, China and India, an expansion in the way of life and expanding consumption on medical facilities are foreseen to affect the market need positively.

COVID 19 Impact Analysis of Medical Procedure Tray Market

In the midst of the COVID 19 outbreak, a significant need for medical procedure tray has seen for the treatment of the affected populace. Additionally, complexities emerging in light of contamination because of the infection necessitates dire treatment. Interruptions in the supply chain have prompted a persistent lack of medical procedure trays, for example, critical diagnosis medical trays and testing kits. The basic deficiency is because of the drop in the imports by China. The decrease in shipments because of shutting manufacturing plants and ports is the explanation behind the deficiency of basic medical procedure trays. In spite of the fact that according to WHO, the need is multiple times higher than normal, there is no demand fulfillment because of interruptions all over the supply chain. All nations, for example, India, China, Japan, and South Korea have stopped the fares to spare the trays for the residents of their nation. Hence, there is an exponential market demand for medical procedure trays.

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Increasing Energy Effectiveness in Motors to Driven Electric Motors Market

Several end-use sectors, chiefly food and beverages as well as automotive, are deploying innovative electric motors to boost manufacturing efficiency. Increasing customer preference for energy-efficient products is likely to be a foremost aspect that is boosting the requirement.

The increasing need for replacement of industrial systems and aging assets is anticipated to fuel the expansion of the worldwide market during the assessment time frame (2019-2028). The worldwide market for electric motors will touch US$ 152 Billion estimations by 2028.

Key Takeaways from Market Research

Electric motors (electric planetary motors) are energy-efficient, failsafe, along with space-saving, and can play a vital role in the electro-mobility future.
Implementation of IoT-enabled in industrial exercises for performance monitoring and energy efficiency will fuel the worldwide market for electric motors development.
Market concentrate on technological upgradations, for instance, smart electric motors, would provide makers topmost prospects to boost sales amid emerging Asian economies.
Present technological progressions in production techniques and the need for increased productivity and cost competitiveness have made automation a predictable element of modern industries. Such aspects are playing a vital role in worldwide market development.
The latest innovation in the market is a novel axial flux motor for usage in electric vehicles and different applications that require lightweight and powerful motors. It is lighter, faster, and created for motorcycles and electric cars.
The growing need for light-duty motors (that is below 1 HP) in the approaching years would control prominent makers to co-operate with regional suppliers and distributors for increasing their business.
APAC nations will be topmost regions, as a result of increasing applications in fans and pumps, particularly in China and India.

“Energy-efficient and miniaturized electric motors which lessen energy costs would foresee heightened demand, particularly for domestic applications use. Additionally, the implementation of EVs is likely to be quickly expanding in the U.S. and Europe, which would play a fundamental part in market development.”

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There are multiple and diverse applications of electric motors in medical equipment and devices, for example, high-quality pumps, patient handling equipment, centrifuges, insulin pumps, infusion pumps, hemodialysis machines, respirators, compressors, scanners, dental drills, surgical robot grippers, precision surgical hand pieces, implantable and prosthesis devices (pacemakers, ventricular assist devices, nerve stimulators, defibrillators, etc). Moreover, electric motors are extensively employed in healthcare equipment, e.g., therapy equipment, massage apparatus, wheelchairs, exercisers, etc

The worldwide market for electric motors is majorly fragmented because of the existence of a huge number of domestic and international makers. Additionally, several makers are providing identical products of changing power output according to end-user needs. Topmost market participants are concentrating on increasing their existence in emerging economies, for instance, India, Brazil, Mexico, Thailand, and Indonesia, to increase their market existence, ensuing in escalating market competitiveness in growing markets.

A few of the foremost players referred to in the market are General Electric, Nidec Corporation, Siemens AG, WEG S.A, ABB Group, Robert Bosch GmbH, along with Emerson Electric Co.

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Cellular Epigenetics Market to Witness Growth Due to INCREASING PERVASIVENESS of Cancer

The idea of Cellular Epigenetics will concentrate on cell fate as well as how cell function is kept up. The research of cellular epigenetics additionally gives data about genetic data which could be extended to the fore-coming generation. These are additionally alluded to and can be utilized for different treatment by designing customized drugs. The research helps in structuring propelled treatments for treating different chronic ailments. DNA histone and methylation alterations could help in keeping up cell epigenetics in people.

The increasing pervasiveness of cancer is the major variable driving the cell epigenetics market development. Researchers are concentrating on cell epigenetic adjustments to form novel therapeutics for cancer treatment. As indicated by NCI, the assessed number of cancer deaths in the U.S. is 163.5 per 100,000 people every year. The ICGC (International Cancer Genome Consortium) is concentrating on picking up transcriptomic changes, epigenomic changes, and genomic description in different types of tumors. Moreover, cell epigenetic scientists are concentrating on structuring novel medications for tumors treatment because of expanded financing. Additionally, then again, the absence of higher healthcare as well as awareness might stop the cellular epigenetics market development in under rising economies.

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Key Market Findings

Amid all products, kits fragment will account for the maximum revenue share because of the accessibility of products and furthermore expanding financing by the government.
Amid the technology type, the DNA methylation category will produce significant revenue for the worldwide cellular epigenetics market as the methodology is accepted profoundly by the majority of the scientists.
Amid all applications, the oncology category will attain the maximum revenue hold because of expanded financing for stable healthcare facilities and cancer research.
Amid all end users, the pharmaceutical businesses section is anticipated to develop at a noteworthy rate over the estimated time frame because of an expanded spotlight on drug development.

COVID-19 Impact Analysis of Cellular Epigenetics Market

COVID-19 has influenced lives over the political, social, and economic sphere. Cell epigenetics helps in vaccine development, which is the essential focal point of biopharmaceutical researchers and industries alike, as this disease has no accessible cure. A forward leap as of now can profit the stock costs of pharmaceutical sectors including the market.

North America would exhibit higher market revenue because of the rising commonness of disease. Additionally expanding funding for R&D will likewise help in fueling the market development. After North America, the European market will reflect strong development in the approaching years because of the accessibility of growing funding for better growth of innovative genomic techniques and accessibility of better hospital infrastructure. Latin America market will exhibit huge demand for the cell epigenetics, because of the regional government activity towards the wellbeing in nations like Mexico. In Asian nations like India and China, the pace of the pre-birth mortality is high because of the unhygienic conditions and lifestyle pattern, this may exhibit the additional demand for the cell epigenetics. Likewise, the growing subsidizing for pharmaceutical sectors in emerged countries will likewise fuel market development. The MEA market is projected to be the least lucrative market for cell epigenetics because of the absence of awareness regarding the wellbeing and absence of healthcare facilities.

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Government Spending on Education to Quicken the Education Sector & Energize the Bulletin Boards Sales Worldwide

Bulletin boards which majorly use to show data to more extensive audience, is believed as an essential product for sports events, corporate offices and in school/colleges. The expanding use and need for bulletin boards in sports events, corporate offices and in school/colleges are the essential elements driving the worldwide market for bulletin boards. Bulletin boards comprise of a writing surface and pin board and could be made of a few materials, for instance, wood, plastic and so forth. With the education system being an essential component of public sector, development of school, universities are high. Government’s additional spending on education system has boosted the development of accessories market identified with education. The developing need for bulletin boards isn’t restricted to educational institutes, it additionally has utilizes in corporates, sports events and so on. The progression of innovation is helping makers to concoct inventive bulletin boards in the market. Development several sports events, offices, colleges, school have recognized as the foremost parameter for development of bulletin boards market worldwide. Additionally, government spending on education would likewise quicken the education industry which in result, will energize the sales worldwide

The market development is essentially reliant on the development of education sector. Bulletin boards market is viewed as higher in emerged economies, for example, Europe and North America attributable to higher government consumption in emerged nations, for example, UK, France, Germany, Canada, USA and so on. In addition, producers providing new attributes, for example, eco-friendly bulletin board will likewise drive the worldwide bulletin boards market. The present trend of eco-friendly or reused item production likewise pushed the producer for eco-friendly bulletin boards. On the other hand, developing use of advancements can confine the market development, particularly in emerged nations.

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There are a few rural places in India where colleges or school despite everything don’t utilize bulletin boards. This has turns into an prospect for producers to focus on those undiscovered market. Market participants need to plan their marketing action in emerging regions. Additionally, their marketing methodologies are assessed to assume an imperative role in pulling in huge client base of emerging nations.

The market is picking up footing attributable to higher demand in school, universities, and colleges and in corporate workplaces. The requirements are basically gotten from emerged nations, for example, Europe and North America inferable from expanding number of education centers over the area. Additionally, expanded government expenditure on education will fuel the education center moreover which in result, impels the sales. United Kingdom, France, Germany have higher educational spending contrasted with emerged regions. South Asia and East Asia will develop at a significant pace attributable to expanding educational centers over the region. Japan, and China are considered as the key market which will drive the East Asia market. India stays the key benefactor in South Asian nations.

India’s advancement in ongoing past and developing economy additionally help the market to develop generously. Oceania will foresee growth attributable to higher demand in School & colleges. Latin America is additionally expected to increase a noteworthy market share because of high training consumption in Argentina and Brazil. MEA will develop more slow than different regions because of lower consumptions on education conversely developing education tourism in UAE and Dubai has pulled in a few ventures which will quicken the market growth.

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Rising Health Concerns Due to COVID-19 would Support Overall Development by Boosting Need for Essential Commodities in the Brewer Yeast Powder Market

The worldwide brewer yeast powder market is projected to account for US$ 3,227.1 Million towards 2029 end, from US$1,900 Million during 2019. The market is estimated to increase at a 5.4% CAGR during 2019-2029. The growing need for brewer yeast powder in animal feed, beverage, nutraceutical, pharmaceuticals, and food industries are propelling development in the market. In the approaching years the market would attain from the growing need for fortified food products and health supplements. Besides this, the market has seen a higher need in personal care industries. The growing manufacturing in breweries would stoke development in the market also.

Key Takeaways from Market Research

In terms of region, Oceania, and the MEA came out as foremost markets.
Europe and North America would stay constant as foremost markets.
The Beverage segment is likely to stay dominant based on application.
Key makers are projected to stress on innovations in product portfolio to remain high in emerged markets.

“The increasing demand for brewer yeast recipes in the food & beverage sector worldwide is the major aspect that is fueling the worldwide market. Moreover, the requirements for several kinds of brewer yeast for instance dry brewer yeast, fresh brewer yeast, and instant brewer yeast is increasing due to the health benefits they proffer.”

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Brewer Yeast Usage in Nutritional Food & Beverages would Support the Development During COVID-19 Outbreak

Brewer yeast powder is one of the foremost ingredients utilized in different food & beverages which is picking up popularity for use in medical nutritional food & beverages. It is enhanced with different wellbeing beneficial segments, for example, selenium, protein, zinc, iron, and vitamin B amid others that convey medical advantages to the patients of a frail immune system, diarrhea, Clostridium difficile colitis, irritable bowel syndrome, alongside lactose intolerance. The products recoup the immunity quickly and keep from a few pathogens.

The need for brewer yeast powder-based products is additionally expanding because of the rising need for healthier food. The COVID-19 pandemic has fixed its noose worldwide, because of which the consumers are searching out products that fortify the immune system normally. Moreover, individuals have gotten increasingly conscious about their wellbeing and health, because of which the need for food packed with medical benefits is on the ascent. Prodded by these variables, the overall market is estimated to foresee consistent development regardless of the spread of COVID-19.

A few of the key makers functioning in the worldwide brewer yeast powder market incorporates Archer Daniels Midland Company, Lesaffre Group, Nutreco N.V., Cargill, Incorporated, Alltech, Inc., Leiber GmbH, AB Mauri India Pvt.Ltd., Associated British Food Plc., Kothari Fermentation & Biochem Ltd., Oriental Yeast Co., Ltd, Angel yeast company, Koninklijke DSM N.V., Hansen Holding A/S, Bruchem, Inc, Omega Yeast Labs, Scandinavian Formulas, Synergy Flavors, Lallemand Inc., and others.

Because of expanding market competition, the makers are targeting on growing their product portfolio alongside guaranteeing an improvement in their extraction advancements. Furthermore, they are searching for partnerships with regional/local organizations in emerging markets. Mergers & acquisitions are amid the favored systems received by worldwide players for the extension of their business impression.

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Markers are growingly Embracing Biochar Fertilizers to Ply to Increasing Need for Organic Products

The worldwide market for biochar fertilizer is anticipated to account for US$ 3,714.3 Million towards the end of 2029. The market was estimated at US$ 954.0 Million during 2019. It is likely to increase at a 14.56% CAGR amid 2019-2029. Implementation of organic farming and biochar fertilizer is projected to rise in reaction to the increasing need for organic food in foods as well as the growth of the agro sector. Moreover, increasing the disposable income of consumers and health awareness would allow expansion in the market in the approaching years. Biochar fertilizers enhance soil fertility and like raw material it improves agriculture manufacturing as are foremost driving aspects for the biochar fertilizer market.

Key Takeaways from Market Study

The market for biochar fertilizer would reflect a 14.56% CAGR amid 2019-2029
Based on type, the inorganic fertilizer and organic fertilizer are projected to coat the highest share in the market
In terms of application, agriculture and gardening application are projected to cover the highest share in the market
Growth of the agricultural industry in the compound and organic fragments in emerging economies and the launching of organic and advanced products along with technologies are projected to generate development prospects for the biochar fertilizer market
North America is projected to reflect the significantly higher requirement for biochar fertilizer amid the forecast time frame. In addition, North America is likely to foresee tremendously higher development as a result of the existence of developing and huge agriculture sector in rising economies.

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Increasing usage of organic biochar fertilizers in organic food manufacturing and its ability to enhance plant development is the main driver of the market. As a raw material, utilizing biochar fertilizer increases agriculture yield as well as amends soil fertility. Goaded by these variables the market is projected to foresee the rising need. Biochar is a derivative of charcoal that is formed by heating degradable waste materials for instance animal manner, agricultural waste, wood waste, and forest waste. However for all the end uses, soil alteration change is frequently utilized to diminish toxic and toxins substances, and to avert the run-off of moisture, fertilizer, and soil leaching.

As a result of environmental consciousness, ordered policies as well as the lower price of waste management raw materials, the market for biochar fertilizers would have a conducive environment for development in the approaching years. Based on the application, the agriculture segment will keep reflecting the higher requirement. Besides this, the usage of biochar fertilizer for gardening would stay substantially higher by the assessment period.

COVID-19 Outbreak Brings up Concerns for Makers since Biochar Fertilizer Fight against Plunge in Demand

The novel coronavirus outbreak has spurred concerns for makers. Restrictions inflicted to control the virus spread have initiated gaps in the market for biochar fertilizer. Export and import of goods and raw materials are hindered because of coronavirus. This would negatively influence the market additionally. Moreover, customer expenditure priority, inventories in agriculture, and gardening would additionally be affected because of such outbreaks.

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Increasing Need for Carbonated Drinks would Generate Development Prospects in Beverage Processing Equipment Market

The global market for beverage processing equipment will be reaching US$ 27.7 Billion in the year 2029, which was estimated at US$ 17.5 Billion in 2019. The market is anticipated to exhibit a 4.7% CAGR during 2019-2029. The worldwide need is slated to increase together with the beverage industry’s ascend. Rise in alcohol consumption, increased requirement for pasteurized milk to contradict outbreaks of raw milk, incessant upgrading of the machinery and equipment are aspects fueling the need for beverage processing equipment. Ready-to-drink beverages have become a huge hit amid customers due to busy lifestyles. The increasing need for low-carbon foods, low-calorie, gluten-free and clean has directed towards the growth of carbonated beverages ready-to-drink in the food sector. Increasing in the overall requirement for beverage processing equipment along with increasing consumer health awareness has boosted the expansion of the carbonated beverages market.

Key Takeaways from Market Research

APAC has a biggest share in the requirement, with an ever-increasing populace and increasing living standards.
The North America market is likely to see sturdy expansion throughout the projected period.
Complex manufacturing processes and high capital costs are the foremost variables which impede industry development.
Companies are expanding the output potential as well as totaling market capture automation to the machines.

“Increasing need for hygienically produced & packaged drinks, advancing equipment for lean time management, superior technology utilized to boost product performance & productivity and growing concentrate on drinks quality are a few of the major variable driving the market. topmost companies are projected to strategize their future operations together with the aforesaid variables to increase their geographic reach in the approaching years,” said a lead analyst at FMI.

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Coronavirus Outbreak Crisis would Influence Consumption Pattern

As a result of the coronavirus outbreak, sales of fresh foods and alcohol on e-commerce in have increased, with market analysts anticipating that the preference in customers buying habits are here to reside. Consumer habits changed amid this time to focus on hygiene and safety, whereas in the lockdowns aftermath, they switched to e-commerce for fresh food, alcohol and even dairy.

Since COVID-19 is spreading throughout continents with no signs of slowing down, the patterns and effects ensuing from changes in customer behavior would additionally be evident in other crisis nations. Total utilization of alcoholic drinks wouldn’t alter much amid economic downturns, sales of wine and beer will rise and sales of liquors will decrease. Budget need for mid-priced drinks will rise, whereas need for super-premium high-end for ultra-premium alcoholic beverages will decrease. The trend of delivery would change drastically though.

The worldwide market is inclusive of several players. Few of them are Tetra Laval, GEA, Alfa Laval, Bucher Industries, Krones Group, SPX Flow, KHS GmbH, Pentair, JBT Corporation, and Praj Industries.

The expanding rivalry amid the vendors makes it hard for the rising players to fight with the leaders relied on quality, pricing and technology in particular. Thus, the makers bring creative ideas and bring in better technology to attain a competitive edge above their rivals.

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Various Applications of Starch Recovery Systems would Boost Market Growth

The market for starch recovery systems will be reaching US$ 457 Million towards 2029 end from the make estimation of US$ 265 Million in the year 2019. The expansion of the market is fueled by the requirement for eco-efficient equipment for potato processing. The main drivers of the market are the expanding potato processing sector and the research and development investments in processing operations.

Key Takeaways from Market Study

The centrifuges and hydrocyclones fragment will dominate the market with the biggest share.
The increasing need for processed potato products has ensued in the expansion of potato processing plants; this requirement is boosting the starch recovery systems market.
The Asia Pacific will lead the market amid the assessment period.
The expanding populace, the growing disposable income, and the increasing need for convenience and processed food products will drive the APAC market growth.
A few of the aspects constraining the expansion of the market to incorporate the strict governmental & environmental regulations and the usage of alternating technologies for starch recovery because of the higher cost.
Based on plant size, the small scale plants category is likely to account for dominance in the market over the period of the forecast.

“The expanding requirement for the eco-efficiency production process in the food processing sector is likely to have a remarkable influence in the market for starch recovery systems. Developing high yielding equipment with a lesser operating expense in the food processing sector will create untapped prospects for the market players,” said a lead analyst at FMI.

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Based on the application, the frozen products category is accounting for maximum share in the market and projected to lead the biggest CAGR in the assessment period. Frozen potato products, for instance, french fries are getting popular worldwide, and the increasing need for these products is pulling in the foremost participants to boost production. Several industry participants are setting up frozen potato processing lines worldwide. This expansion is pushing the need for starch recovery systems to a quicker rate. The increased requirement for frozen potato products has a positive result in starch recovery systems’ market development.

COVID-19 Impact Analysis on Market

As coronavirus(COVID-19) spreads all over the globe, cautions are being taken in the majority of the nations, warehouses not operational at full capacity due to space which must be kept amid the employees, carriers who have to remain in their space restrictions and trucks in the companies. The need for the starch recovery system is centered on the retail, though in some nations, this boom is by now leveling off, now that individuals have already stocked up. The need for potatoes is growing because of their starch content; on the other hand, there are barely any stocks left and costs are rising. The cultivators are worried about the labor shortage. There are additionally foremost concerns on the import side, particularly for suppliers at a great distance. It is very hard to make decisions regarding trading with products that would pull in in 3-4 weeks.

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Growing Need for Food & Pharmaceuticals Grade Sodium Chloride to Boost Sodium Chloride Market

Sodium chloride (NaCl) is widely utilized as a raw material in chemical processing sectors. Worldwide, the chemical sector has been the instant customer of sodium chloride in the last few years. Additionally, flourishing end-users for instance oil & gas, food & beverage, de-icing, and water-treatment industries are propelling the market development of sodium chloride. In Europe and North America, food & beverage and de-icing industries are the foremost end-users of sodium chloride.

The market for sodium chloride will be reaching a valuation of US$ 59 Billion by 2030, growing at a CAGR of around 4% throughout the assessment period of 2020-2030. Whereas the market would expand at a steady pace throughout the approaching decade, the COVID-19 pandemic is having a damaging influence on the market, worldwide. The pandemic is projected to influence customer spending all over several sectors for instance FMCG and food. As such, the annual expansion pace of the market is poised to decline amid 2020-21 but is slated for sharp recovery throughout the approaching financial year.

“Sodium chloride manufacturing is projected to contract amid the COVID-19 pandemic; nevertheless, regions, for example, APAC and Europe have continued some nature of manufacturing activities. Additionally, notable expansion in multiple end-use sectors is likely to fuel the market development over the approaching years.”

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Key Takeaways of Sodium Chloride Market Study

De-icing sectors of Europe and North America are projected to be key customers of sodium chloride.
Expansion in the chemical sector in the Asia Pacific (APAC) is amid the prominent aspects boosting the need for sodium chloride in the recently.
Pharmaceutical grade sodium chloride will exhibit potential development prospects over the approaching years.
Increasing need for dust suppressants will aid market development in terms of end-use is concerned.
East and South Asia will foresee higher consumption and production of sodium chloride, due to the existence of several chemical processing sectors in these regions.

Industrialization is fueling the need for sodium chloride, due to its extensive scope of industrial application. Industrial salts are more inexpensively feasible than natural salts that are further catalyzing the market development, or industrial salt expansion. There is additionally rising sodium chloride usage in the end-use industry for an instance water softener in water treatment plants, and as oil & gas as drilling fluids.

Chemical and food & beverage sectors are the foremost end-users of sodium chloride. The COVID-19 pandemic has forced governments in various nations to inflict nationwide social distancing and lockdowns regulations. Whereas the chemical sector is suffering because of the downtimes of several manufacturing facilities, the closure of bars and restaurants has adversely influenced the food & beverage industry. These aspects will have a negative influence on the market amid 2020-21. Nevertheless, FMI states that the market is slated for a snapback in the subsequent fiscal year.

Key makers in the market, for instance, Compass Minerals International., Cargill, Incorporated, K+S AKTIENGESELLSCHAFT, Akzo Nobel N.V., Wacker Chemie AG, Tata Chemicals Limited, INEOS GROUP HOLDINGS S.A., Südwestdeutsche Salzwerke AG, Maldon Crystal Salt Coare, and Dampier Salt Limited, are concentrating on fortifying their product portfolio and growing their market footprint via the acquirement of small-scale enterprises in the scenario.

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