Market Research Blog – Page 16076 – New Product Development

Lecithin Market to Witness Decline in Growth as a Result of Coronavirus Outbreak

The worldwide lecithin market is anticipated to touch US$ 7 Billion towards 2030 end. At present, the market is estimated at US$ 4 Billion. The worldwide market is anticipated to reflect a 5.7% CAGR during 2020-2030. Market development of lecithin could be because of the rising demand for lecithin in food and feed applications along with the upcoming trend in dietary supplements and cosmetics for the utilization of natural ingredients. The higher level of customer awareness concerning functional food and developing health concerns amid customers slated an upward trend of market growth. The rising need for phospholipids in the pharmaceutical and cosmetic sectors and the increasing requirement for substitute sources of lecithin are the foremost aspects fueling the expansion of the market.

Alteration in Buying Behavior Because of COVID-19 Pandemic

Lecithin is generally accessible in cosmetic, medicinal, and different foods & supplements. The requirement in the pharmaceutical and cosmetic sectors and the developing requirement for elective lecithin sources are the foremost driving the market development of the lecithin. The market has foreseen a higher demand for de-oiled lecithin because of nutritional advantages to purchasers.

The virus spread has been perhaps the greatest danger to financial markets and the worldwide economy. In the interim, COVID-19 stresses have shaken markets all over the globe, with bond yields and equity prices pluming. With large-scale quarantine and travel restrictions imposed all over China, individuals invested a great deal of time inside at home. Shopping propensities shifted in like manner. Foot traffic to physical stores has declined significantly and individuals purchase undeniably a greater amount of everything online – incorporating fresh produce.

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Larger labor markets and factories are easing back down because of COVID-19, and generally speaking, manufacturing is slowing fundamentally. Along these lines, the market is seeing lower income with downstream makers decreasing need, materials as well as shutting down ventures. The market is likely to consider additional pressure to be as worldwide makers’ slow manufacturing, producing even less competition for the worldwide essential material makers. As the figure of instances of COVID-19 keeps on expanding, worries of a worldwide pandemic and ensuing monetary effects have risen, prompting a sharp drop in numerous worldwide markets, which had at first demonstrated just a gentle response to the outbreak.

A few of the foremost players functioning in the worldwide lecithin market are Cargill, Incorporated, Archer Daniels Midland Company, LASENOR EMUL, S.L., Stern-Wywiol Gruppe GmbH & Co. KG, Lipoid GmbH, Avanti Lipids Polar, Inc., Lecico Gmbh, DuPont., Ruchi Soya Industries Limited, The Valspar Corporation, Vav Life Sciences Pvt. Ltd., and others. Additionally, M&A stays a popular approach amid market participants. Organizations aim to increase their regional impression via strategic collaborations. The foremost strategies of participants in the market for lecithin & phospholipids are product expansions by research & development. Rising needs in North America as well as Europe for non-genetically modified lecithin is bringing forth new business prospects for the worldwide lecithin & phospholipids sector.

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Entrance of Eco- Labels & Higher Versatility for Eco- Labels by Producers will Boost the Kraft Paper Bakery Bags Market Demand

The bakery sector provides products that are new and perishable. The packaging is of significant concern with regards to packaging or delivery of baked products. Because of consumer requirements for economical and environment-friendly packaging, kraft paper bakery bags is a perfect answer for packed bakery products. Expanding the utilization of bakery products universally has prompted the ascent in the requirement of bakery packaging. These bags are a sustainable solution for the bakery products pack. Developing retail outlets, supermarkets, and hypermarkets are foreseen to help market development. These bags are strong and simple to convey which makes them advantageous for use. These aspects may build the market requirement for kraft paper bakery bags.

Topmost brands utilize kraft paper for identity promotion as a green brand. Moreover, the premiumization of kraft paper with attributes, for example, coatings and printability have prompted higher acceptance of kraft paper bread kitchen packs. Expanding the utilization of bakery products items is required to climb the market demand. These bakery bags are financially savvy and are easily accessible. Quickly changing eating habits and development in the food & beverage sector is foreseen to prompt the development of kraft paper bakery bags. The increasing requirement is because of customer awareness in regards to the environment and the risks of utilizing plastic bags. Barrier attributes, for example, water, grease, and oil resistance prompt higher demand for the market. Besides, the entrance of eco-labels and higher versatility for eco-labels by producers is probably going to expand the demand for the market.

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Key Takeaways from Market Study

Government initiative concerning the banishing of single-use plastic for safeguarding the environment is another aspect sustaining expansion of the market.
The APAC region on account of its large populace is projected to be the market chief. Expansion in the food & beverage sector and altering lifestyles of the populace are anticipated to influence the market expansion.
The North America region has higher bakery utilization and the maturated markets are expected to exhibit a sturdy expansion in the market for kraft paper bakery bags. Strict government regulations & rules have directed towards the expansion of the market in the European Union.

COVID-19 Impact Analysis of Kraft Paper Bakery Bags Market

Makers are confronting challenges because of the crisis and the foremost challenge is supply chain disruptions. Several nations all over the world are under lockdown as well as have directed towards stocking of medical supplies and essential groceries. Bakery products, for instance, bread that is essential grocery is higher in demand. On the other hand, the need for bakery products is low because of the closing of restaurants, bakeries, lounges & café. Therefore, there is a sturdy need for kraft paper bakery bags in 2020. The market expansion is anticipated to increase gradually as the lockdowns lift.

A few of the foremost participants functioning in the market are WestRock Company, Classic Packaging Corp, Fisher Paper Products, Alpha Packaging, Inc., Mil-Spec Packaging for GA, Inc., Bemis Company Incorporated, Imperial Paper, Stanpac, Kent paper, Linpac Packaging Limited, and Genpak.

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Integrated Advances to Better Compliance and Patient Care to Increase Home Sleep Screening Devices Market Demand

Sleep insufficiency negatively affects both the mental and physical well-being of a person, which makes it one of the critical zones to be tended to. The predominance of rest inadequacy is on a ceaseless increment, attributable to altering psychological and physical reasons. Home sleep screening devices have developed as a significant forward leap in the landscape of sleep-health’, wherein they aid with the viable conclusion of insomnia and sleep apnea with the assistance of sleep apnea diagnostic systems in the solace of one’s own home.

Key Takeaways from Market study

The worldwide market for home sleep screening devices was projected to reach around US$ 2,148.0 Million during 2017.
The worldwide market is likely to increase at a CAGR of 8.4% throughout 2018-2028
The higher occurrence of sleep apnea signifies a higher need for Home Sleep Test (HST) and sleep tracking devices, for instance, home sleep screening devices, globally, especially in the US.
The North America market for home sleep screening devices along with the European market, trailed by the East Asia market, is projected to stay the biggest regional markets in the worldwide market for home sleep screening devices.
South Asia and East Asia accounts for a higher expansion potential for the worldwide market.
Wearable screening devices and home sleep tracking would stay the most favored home sleep screening devices.

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Elevating Sleep Tracking Technology to Pick up Sales Potency of Sleep Screening Devices

The technology utilized in-home sleep screening devices depends on the mapping of a deep sleep, respiration patterns, heal rate, and REM sleep. On the other hand, the latest home sleep screening devices are joining a similar innovation since the one utilized in polysomnography and actigraphy devices. The developing trend of using a sleep tracker as a lifestyle accessory is evaluated to advance the market development of the home sleep screening devices.

Technological progressions in smart home sleep screening devices have prompted the making of hybrid devices that track action yet also track sleeping patterns. These smart devices are fit for following fitness viewpoints, for example, calories consumed, the distance walked, pulse checking, and could additionally follow sleep examples, for example, light & deep sleep along with REM.

For example, Fitbit, Inc. item Fitbit Ionic tracks activity/fitness in addition to sleep patterns. It could register the REM, light & deep sleep, in addition, to give tips to proficient sleeping patterns dependent on a person’s lifestyle. Comparable innovative trends are assessed to take out the variables controlling the market development.

The Consumer Electronics Association has teamed up with The National Sleep Foundation and shaped “The Wearable Sleep Monitoring Equipment Group,” which was planned for boosting the improvement of sleep technologies. This is additionally projected to enhance the nature of wearable home sleep screening devices to guarantee better information storage and collection. The presentation of certain new progressions and innovations are projected to make a development prospect for the market.

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Novel Technologies & Innovations to Boost Hardgel Liquid Capsule Filling Machines Market Demand

The requirement for healthcare facilities is expanding worldwide because of the rise in the aging population and chronic illnesses. Hardgel liquid capsule filling machines are utilized by the makers to boost their production scale to enhance production capacity efficiency. With technological innovation and introduction, machines are automated and have quick production with no human interference. This is projected to boost the hardgel liquid capsule filling machines market demand.

Hardgel capsules are utilized in various sectors, for example, cosmetics, pharmaceuticals, and food & beverages. This is because of the advantages of hardgel liquid capsules that are demonstrated to improve health and strengthen bones. This is probably going to support the requirement for hardgel liquid capsule filling machines. These machines are progressively efficient which has prompted their expanded consumption. Also, these machines have superb functionality where the procedures are computerized and it doesn’t require an enormous number of workforce focused on one explicit procedure.

The machines ascertain quality and consistency which clung to the clinical guidelines and thus is anticipated to help the market demand. The market hardgel liquid capsules demand is expanding because of longer shelf life since they could be handily put away in a humidity-controlled environment without affecting the capsule’s quality. This has prompted the versatility among the brand owners. Also, the machine ensures higher manufacturing together with the capacity to fill capsules of several sizes and compositions. Also, disassembling and easy assembling of the machines prompts simple maintenance of the machines thus supporting the market need.

Key Takeaways from Market Study

Asia Pacific region is anticipated to lead the overall market throughout the assessment period as a result of a growing population and expanding costs on the healthcare facilities.
The existence of several pharmaceutical makers is expected to support the market development in the APAC region.
North America on account of its developments in the pharmaceutical sector and biotechnological innovations is projected to foresee huge requirements from the pharmaceutical industry. This is anticipated to have a positive influence on market demand.

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COVID-19 Impact Analysis on the Hardgel Liquid Capsule Filling Machines Market

Economies all over the globe are distress from the impact of coronavirus, businesses are confronting challenges and globalization has directed towards interdependencies amid nations. The outbreak has halted the manufacturing lines as a result of the inaccessibility of the workforce or raw materials. The disposable income of the customers has come down drastically which is anticipated to impede the expenditure form in the approaching times. On the other hand, pharmaceutical companies are taking center stage in the battle against COVID-19, and the market is projected to foresee a positive development. Novel technologies and innovations are likely to expand the market demand to cater to the huge requirement as well as to balance the supply and demand equilibrium.

Some of the topmost participants in the worldwide Market are Sainty Tec,Wenzhou Huale Machinery Co., Ltd., Sino Pharmaceutical Equipment Development (Liaoyang) Co., Ltd., Tianmin, Cap Plus Technologies, ACG Pam Pharma Technologies Private Limited, Kwangdah, Hualin Pharma Machinery, Robert Bosch GmbH, United PharmaTek, and Joysun Pharma.

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Sales of Aircraft Pushback Tugs Surged on the Back of Up-Gradation & Expansion of Airport Infrastructure, COVID-19 Outbreak to Halt Production: FMI

The growing airline sector is anticipated to boost the requirement for new aircraft & airport ground support equipment (GSE).This is projected to impel the aircraft pushback tugs market at a substantial pace during the assessment period. Moreover, the number of new airports is rising in developing nations. The up-gradation and expansion of airport infrastructure will fuel the aircraft pushback tugs market during the assessment period, 2018-2028.

Aircraft Pushback Tugs Market: New Developments and Product Innovations

Aircraft tugs have progressed from their roots as converted work trucks and farm tractors. They are technologically progressed machines that are customized to a definite function of securely moving aircraft on the ground. Earlier accessible as omni-directional units, tractor style, and manned pushback style that contain and lift the aircraft’s nose landing gear, is now accessible as remotely operated electric units.

As markets dictate progressions in technology, pushback tug operators required a more user friendly and faster machine than traditional tractor tugs. Mototok Company launched, Spacer 8600, an automatic guided vehicle (AGV) that simplifies the pushback operation with a basic interface, and doesn’t necessitate an additional license to maneuver. This, in turn, lets more members of ground handling personnel execute with the push of a button and significantly reduce delays.

Moreover, these machines can place themselves accurately every single time, pushback at a regulated pace, and come back to docking autonomously.

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COVID-19 Impact Analysis

The COVID-19 outbreak has had a severe and swift impact on all industries globally including the aircraft pushback tugs market. Indications include a disruption in Chinese components exports, large scale production interruptions all over Europe, and the shutdown of assembly plants in the United States. This is strongly pressurizing on the industry already coping with a downshift in worldwide demand, and probably leading to increased M&A exercises.

Europe to Witness Increasing Demand for Aircraft Pushback Tugs

The Asia Pacific is projected to be the most lucrative market, due to developing economies of India and China. The rising population of the region and growing air traffic is prompting the airline industry growth in the region. The growing number of airports and the comparatively rising demand for new aircraft GSE is anticipated to notably boost the demand for aircraft pushback tugs in that region. The MEA region is projected to reflect significant development in the market during the assessment period as a result of the growing airline industry and air traffic in the region.

Moreover, Europe is projected to have prominent growth in the global market, as a result of the increasing demand for aircraft and the extension of airport infrastructure. North America is likely to have moderate growth due to the increasing airline transportation and rising expenditure on airport infrastructure.

Aircraft Pushback Tugs Market: Competitive landscape

Market players in the aircraft pushback tugs market are recognizing concerns such as safety issues, higher investments, and cost-intensive trained staff, and are working towards developing advanced solutions. Market players are joining forces to further develop towbar-less aircraft tugs, Eagle Tugs, and Tronair, Inc. is a key example of such development.

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Cultured Wheat Sales Soar as More Consumers Prefer Clean Label & Natural Products Amid COVID-19 Pandemic, Finds a New FMI Study

The cultured wheat accessible in the market is GMO-free, organic, all-natural, and Kosher certified. Gradually consumers are getting more cognizant of the food ingredients as well as prefer clean labels, chemical-free, and natural products. This is driving the sales of the cultured wheat market.

The various functionalities of cultured wheat are reduced consumption of yeast, easily spread out in a food matrix, clean flavor, environmentally friendly, and manageable. The benefit offered by cultured wheat is bringing forth its increased consumption in the food sector. The natural food preservatives are witnessing high demand, which creates a huge prospect for market growth.

New Developments & Product Innovations

FDA regulation says that Pr. freudenreichii along with other bacterias discovered in cultured wheat are generally regarded as safe (GRAS) microorganisms. Moreover, the EFSA (European Food Safety Authority) has incorporated them in the Qualified presumption of safety (QPS) list. The regulations moreover provide extended prospects to the market to develop its product portfolio with cultured wheat.

A rise in the sustainability trend is shifting market players to the manufacturing of animal-free and eco-friendly products. It is the best alternative for present industrial petrochemical-based calcium propionate preservative shielding the environment against toxic chemicals. In this way market players get prospects to fortify their production of food preservatives by providing consumers organic, natural, and sustainable cultured wheat.

For instance, Mezzoni Foods offers one of the most recognized cultured wheat products called Inhibit 1900CW which is extensively used as a shelf-life extender in salad dressing, cheeses, baked goods, and other products that fight against mold and gram-negative bacteria.

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COVID-19 Impact Analysis

Manufacturers are gearing up to adopt the new normal by evolving as the customer’s trends and need. Manufacturers are capturing growth prospects across all distribution channels, comprising e-commerce. COVID-19 outbreak has influenced companies to expand their product range available for customers buying online. Nestle Malaysia has conveyed strong confidence in its post-COVID-19 recovery amid e-commerce push.

Regional Insights

The increasing demand for bakery products particularly in the Asia-Pacific market as a result of westernization of food culture and growing disposable income is in addition boosting the market growth of the cultured wheat. Europe is anticipated to dominate the cultured wheat market as a result of the existence of a huge number of confectioners and bakers.

Competitive Landscape

Some of the major market participants in the global cultured wheat market are J&K Ingredients, Mezzoni Foods, BroliteProducts, DuPont Nutrition & Biosciences, Lima grain Ingredients along with others.

Limagrain Cereales Ingredients has presented Cereclean, a cultured wheat flour that offers an extended shelf life of the baked products. Bakers could list their products as clean label products by substituting this wheat with the chemicals they employ.

Cain has presented an advanced solution to a natural mold inhibitor called AlphaFresh. It is utilized to restore calcium propionate without adding up vinegar that is usually added in cultured wheat to prepare food preservative chemical-free.

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Window Coverings Sales to Expand at 4% CAGR Through 2030; COVID-19 Outbreak to Impact Demand, Directs Towards Attempting Digital Transformation

A rise in customers expending on interior decor owing to incessantly improving lifestyle and increment in buying power is fueling the window coverings market. Driven by the predominating trends, the spending on improving interior décor would rise. This is likely to generate demand for modern window treatments and different aspects of designing. Rising consumer concern regarding home decoration and UV rays protection will boost sales of window coverings over the assessment period.

Recent technological progressions in innovative designs and hardware of window coverings are boosting their sales. The window coverings market is anticipated to increase at a CAGR of 4% during 2020-2030.

New Developments and Product Innovations

Consumers are keen to see more automated options, in terms of the dominant trend in window treatments. Therefore, motorized blinds and shades and smart window coverings will foresee high demand. With producers presenting more features to enhance the energy efficiency, smart window covering may have an advantage over its contemporaries.

Companies have thus begun offering customization solutions to pull in more customers. They provide unique design, besides following measurements as indicated by consumer’s needs. Humble cotton and wood designs are also prevailing due to the higher demand for natural materials among consumers.

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COVID-19 Impact Analysis

COIVID-19 outbreak keeps on spreading worldwide; there are considerable impacts on product demand, consumer behavior, and logistics services, factory, and retail store accessibility. Retail technology investments would keep on reflecting digital transformation attempts, as retailers reserve capital for technology investments by bringing down expenditure on remodels and store openings.

Key Takeaways of the Market Study

Window treatments are an affordable option for smartening up home décor. Therefore, pocket-friendly window coverings are striking in the residential sector
Demand for remote access and automation makes motorized blinds and shades perfect for the commercial sector
The demand for eco-friendly and sustainable blinds and shades is growing. This will boost development prospects for the market
Motorized blinds and shades such as automated honeycomb shades to foresee surging demand.

Regional Insights

North America will rise on the latest trends of home décor, propelling the region to the front in the global market. Hospitality industry evolution in East Asia is pulling in prominent companies to transfer their focus to the region. Major companies will focus on presenting novel products in Latin America and the Middle East & Africa. The growth of the retail sector is boosting investment in these regions. Moreover, market participants are likely to focus on enhancing their distribution network to capitalize on prevailing growth prospects in Latin America and the MEA

Competitive landscape

A growing number of companies will focus on increasing their online presence. Through this, they plan to enter all over developing nations. To boost product infiltration, market participants are acquiring regional participants. Additionally, they are focusing on adopting active marketing campaigns and better advertising their products.

Mecho, In 2019, introduced SolarTrac 4.0 to provide a technologically-progressed automated window shading control system. This system is capable of building performance with the help of daylight management and developing maximize occupant.

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Favorable Government Regulations & Quick Extension of Cold Chain Facilities to Favor Transportation Condensing Units Market Growth

Spudding worries relating to the perishable food safety along with associated concerns have prompted a rise in the incursion of transportation condensing units in the cold chain. With widespread services and product portfolio, the need for transportation condensing units is foreseeing substantial development since they assist in monitor and manage the cold chain of extremely perishable, and temperature-sensitive products. Food brands are more and more leveraging trailers and trucks that are furnished with transportation condensing units to take advantage of the increasing need for frozen and chilled food products.

Key Takeaways from Market Research

The worldwide transportation condensing units market was estimated to touch close to US$ 2.3 Billion during 2018.
The worldwide market is projected to flourish at an estimated CAGR of 5.6% during 2018-2028.
South Asia and East Asia account for substantial development potential in the market.
Europe and North America will stay foremost regional markets.
Scroll compressors are majorly preferred compressors type in the latest transportation condensing units.

Production enterprises in China have started to prosper as of late. China has been a top supporter of the market based on animal and agricultural products, with a yearly estimation of above US$ 300 billion. The insufficiency of chilling facilities will additionally expand the extent of new prospects for infrastructural expansion, accordingly strengthening the requirement.

Transportation refrigeration units or transportation condensing units are provided with a remarkable portfolio of services and products, intended to help monitor and manage the cold chain of the most perishable, temperature-sensitive products, comprising pharmaceuticals, vaccines, and bioengineered and biologics drugs, notwithstanding a few industrial chemical classes.

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Expanding the establishment of transportation condensing units for long- and short-stretch applications on commercial and private carriers will keep on enhancing the market revenue.

The competition scene of the worldwide market is majorly consolidated, with the main two representing almost 90% of the all overall revenue produced. Vital efforts of most of the major players will stay concentrated in engineering enhanced designs of transportation condensing units, arranging sturdier product presentations, and keeping up a higher sustainability quotient. Steady efforts are likely to rise in the presentation of innovative technologies and materials to expand product life cycles.

Key market players are likewise centered around improving their creative abilities, for better geographic reach. Critically, sturdy dispersion network, powerful consumer management, along with novel service and product portfolios are probably going to stay the topmost developmental strategies of major players contending in the worldwide market. Besides, organizations will concentrate on the extension in global markets by the evaluation of demand patterns in different regional markets.

Foremost participants in the worldwide market will likewise plan on fortifying associations with local market operators and distribution partners, in addition to others over the distribution and supply network. Taking a gander at the quick development of the retail landscape, a few organizations are additionally putting resources into setting up tie-ups with an assortment of retail channels. A few of the main organizations are likewise increasing investments in the advancement of cutting edge hybrid-electric transportation condensing units, as indicated by FMI’s report.

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Sulphur Bentonite Market Value to Reach US$ 280 Mn by 2029, Uptake by End-use Industries Limited by Coronavirus Outbreak: FMI

Sulphur Bentonite is a sulphatic fertilizer comprising bentonite clay and sulphur. With 90% existence of sulphur in these fertilizers, it is most prominent amid other groups of sulphated fertilizers. Sulphur bentonite acts as a micronutrient utilized for boosting soil quality and crop yields. Additionally, it assists in chlorophyll synthesis and is a foremost element in oilseed manufacturing.

Sulphur bentonite boosts soil acidity for alkaline soils, boosts nitrogen usage, phosphate, and micronutrient consumption. It moreover improves the growth rate of roots, consecutively; the plant extracts the highest amount of nutrients from the soil, augments oil content of groundnuts together with other oilseeds, and enhances quantity and quality of pulses. This makes sulphur bentonite more effective because of supplying sulphur to Crops.

Future Market Research (FMI) in its latest published report reveals that the application of sulphur bentonite in cereals and oilseeds is anticipated to jointly attain market revenues surpassing US$ 100 Mn towards the end of the forecast period. Sulphur bentonite sales will be boosting the yield of vegetables & fruits and trees, turf, and lawn would witness modest development towards 2029 end.

The study further reveals that the global sulphur bentonite market has recorded a valuation of US$ 164 Mn in 2018 and is anticipated to reflect a promising growth, reaching an estimation of US$ 280 Mn by the end of the assessment period, 2019 – 2029.

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Constant Sulphur Deficiency in Cultivating Lands to Push Market Growth

After potassium, phosphorus, and nitrogen, sulphur is counted as the fourth essential ingredient for plants. Several studies keep on revealing the sulphur deficiency all over the globe in the agricultural sector, especially in fast emerging Asian markets such as India and China. With cultivating land soils confronting constant sulphur deficiency, the probability for the consumption of sulphur bentonite is likely to be on an upward trend during the assessment period because of its rich sulphur content. Growing crop production regions committed to rice, rapeseed, soybean, wheat, grapes, and sunflower ensures affirmed demand for sulphur bentonite from Asian markets. Prominent producers of sulphur bentonite are aiming APAC for setting up novel production plants. The advancing foreign and local investment landscape in the agriculture sector would additionally boost the market growth of sulphur bentonite.

COVID-19 Impact Analysis

At present, the world markets are majorly influenced by the COVID-19 pandemic. China being one of the largest producers and consumers of sulpher bentonite in APAC nations has seen a drastic downward trend since the COVID-19 outbreak. The outbreak has also resulted in restrictions on travel and price hikes which caused disruptions in the supply chain.

Some of the major players functioning in the sulphur bentonite market are National Fertilizer Limited, Tiger-Sul Inc., Coromandel International Limited, NEAIS, Sohar Sulphur L.L.C, Coogee Chemicals Pty Ltd., Deepak Fertilizers and Petrochemicals, H Sulphur Corp, Montana Sulphur & Chemical Co., Galaxy Sulfur, LLC, Zafaran Industrial Group Company, Devco Australia, and ABU DHABI FERTILIZER INDUSTRIES CO. W.L.L.

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Respiratory Pathogen Testing Kits Sales Surges Due to Increment in Research Funding for Respiratory Diagnostics; Demand Propelled by Global Outbreak of Coronavirus

Respiratory pathogen testing kits sales are expected to see a staggering growth due to mandatory workplace testing, particularly in high-risk occupations along with growth in funding for respiratory diagnostics. The global respiratory pathogen testing kits market is anticipated to record a CAGR of over 5% in 2020.

Though the molecular diagnostic procedure has come out as a significant part of the research in the life science sector, high expenses involved in operating molecular process (particularly by private laboratories) can constrain market growth, especially in the developing economies

Key Developments & Product Innovation

Antigen testing, rapid molecular assays, immunofluorescence assays, RT-PCR, and vital culture are the diagnostic tests accessible to detect viral and bacterial infections in the current circumstances. “PathoDetect Covid-19 Qualitative PCR kit” manufactured by India-based Mylab, operates on the theory of RT-PCR. The kit is anticipated to detect infection in 2.5 hours (in contrast to 7.5 hours taken earlier). This aspect is likely to catalyze the respiratory pathogen test kits demand in India and the other nations of APAC; as more infections can be detected in less time (seeing the growing number of cases and density of population in this region).

In wake of Covid-19, the Australian government declared a USD 1.68 billion package comprehensive of respiratory clinics’ network (a new Medicare item to help tele-consultations and communications campaign) in March 2020. The Covid-19 pandemic directed the Russian Direct Investment Fund (RDIF) to produce 500,000 test kits with its partners in March 2020. The manufacturing has augmented to 2.5 million kits per week afterward.

COVID-19 Impact Analysis

COVID-19 outbreak is adversely affecting the overall mental health of individuals, resorting them to unhealthy habits. This could impact the respiratory tract and boost the demand for more testing kits. As such, the market would foresee sizable expansion with the addition of post-COVID-19 modifications apart from the present respiratory deformities.

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Respiratory Pathogen Testing Kits: Regional Insights

Europe and the U.S. keep on to be the most lucrative respiratory pathogen testing kits markets worldwide. They jointly hold about 55% of the market share and are projected to keep on with the same trait in the assessment period. Besides Covid-19 and the other subsisting fungal infections /bacterial/viral; a sedentary lifestyle in both these regions is fueling the market.

The APAC market is additionally picking up; with several local participants engaging in the production of respiratory pathogen testing kits to supply to the rising cases of Covid-19. Moreover, growing economies in the APAC market have been due to gastrointestinal tract infections since low-income groups have a propensity to pay less consideration to dietary hygiene. Another booster for the market is air pollution. According to IQAir, over 20 of the most polluted nations in the world belong to the APAC region. The uncontrollable inhalation of sulfur dioxide and carbon monoxide induces choking of the respiratory tract; thus causing a rise in respiratory pathogen testing kits demand.

Competitive Landscape

A few companies operating in the global market are –

America

Abbott Laboratories
Thermo Fisher Scientific
Becton, Dickinson, and Company
Danaher Corporation

Europe

bioMérieux Inc.
Hoffmann-La Roche Ltd.

Asia Pacific

MyLab
Altona Diagnostics

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