Ambiguity about Safety of Glyphosate and Strict Regulations Gloom over the Market Growth, Finds a PMR Study

Safety concerns about the use of glyphosate in various agricultural applications and shifts in its reputation have been heavily impacting the growth of the glyphosate market, finds a recent study published by Persistence Market Research (PMR). According to the study, over 823 kilo tons of glyphosate was sold worldwide, and the market value reached US$ 4.7 billion in 2018. The controversial nature of the glyphosate applications in agricultural businesses will continue to remain a factor instrumental in shaping the future of the glyphosate market in the coming decade, opined the PMR study.

PMR assesses various factors impacting the growth of the glyphosate market, including the regulatory action taken by governing bodies across the world that restrict the use of glyphosate in various action. The study finds that regulations are relatively more stringent in developed regions such as North America and developed European countries. In the United States (U.S.), the Food & Drug Administration (FDA) and the Environmental Protection Agency (EPA) both have imposed regulations on the applications of glyphosate, and this may influence growth prospects of the glyphosate market in the region, projects the PMR study.

In April 2019, the EPA turned down the claims about glyphosate herbicides being carcinogenic, which could relax the regulatory tensions on glyphosate market players, however emphasized the need for new measures for preventing its negative effects on the ecosystem, especially on pollinators such as monarch butterflies. Recently, the Environment Ministry in Germany also imposed some stricter policies associated with the use of glyphosate as a pesticide. According to the new policies, farmers who wish to use glyphosate or similar herbicides will be mandated to set aside 10 percent of their farmland to protect biological diversity from 2020.

On the other hand, some studies have found that glyphosate is not as dangerous as it is portrayed, and can be used with cautions in various applications. In fact, in April 2019, the European Commission stated that, until 15 December 2022, glyphosate can be used as an active substance in Plant Protection Products. Such ambiguities about the safety of glyphosate as an herbicide or pesticide have been influencing the future growth parameters of the glyphosate market, opines the PMR study.

Cereals and Grains remain the Top Application Segments in Glyphosate Market

Recent announcements by governing bodies, such as the EPA, have signified that glyphosate is not carcinogenic, and this has supported its application as an herbicide or pesticide in crop protection sector. The PMR study finds that the use of glyphosate in the production of cereals and grains accounts for over one-third revenue share of the glyphosate market. The study attributes the recent advancements in farming techniques and ever-evolving agricultural practices for the increasing adoption of glyphosates in the production of cereals and grains.

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The study also projects that, despite the strict regulations imposed over the environmental impact of glyphosate, its application in sectors other than cereals and grains, including fruits & vegetables and roots & tubers, will increase significantly in the coming years.

The Quest for Ready-To-Use Pharmaceutical Products Fuels the Demand

The pharmaceutical sphere is leveraging the intensifying wave of innovation as medical professionals across the globe hunt for user-centric injectors aiding in accurate dosage of drugs. Double chamber prefilled syringes – a product of such innovation – are garnering huge prominence in the medical sector thanks to straightforward re-formation and drug infusion, enhancing user experience.

Coupled with passive needle-safety technology double chamber prefilled syringes protect users from needlestick, and avoids re-use. Post injection, users get an end-of-dose click indication in sync the retraction of needle into the barrel of the syringe and plunger rod, keeping the syringe needle unusable. As such, double chamber prefilled syringes prevent re-use of the needles, achieving compliance with mandates associated with needlestick and re-use prevention.

Patients are shifting towards self-medication at home in a bid to reduce the need of visiting healthcare centers on a frequent basis. With online training lessons, users can employ double chamber prefilled syringes under restricted conditions. Time is a factor in the fast-paced lifestyles of customers while money tops the list when it comes to cost prohibitive biologics. As such, the demand for innovation-driven double chamber prefilled syringes is set to face an upward trajectory in near future.

‘Glass’ and ‘Plastics’ – The Battle Between High Chemical Resistance and Low O2 and UV Barrier

Bulk glass double chamber prefilled syringes allows injection of highly sensitive fluids into patients with great accuracy. In addition, absence of glue from the syringes eliminate the risk of unwanted mixing with the therapeutic drug, allowing alternative siliconization methods. However, the glass material in the syringes proves inefficient while infusing high viscous liquids, resulting in potential contamination. Further, glass poses the challenges of delamination and insufficient UV barrier.

Although traditional plastic alternatives act as better alternative, double chamber prefilled syringes made of plastics exhibit the problem of inept oxygen and ultraviolet light (UV) barrier – ~70% permeation. The US FDA has highlighted the issues related to bulk glass and plastic double chamber prefilled syringes, instituting significant incidents of recalls.

COP Polymer Fills the Gaps; Injection Molding Complements the Performance

Proliferation of plastic composites is evident in pharmaceutical sectors, with manufacturers relying on high performance polymer – COP (Cyclic Olefin Polymer) – for developing double chamber prefilled syringes. COP syringes are characterized by high degree of break resistance and a transparency akin to glass. The COP material does not result in the formation of alkali ions, dismissing the risk of changes in pH value.

The COP material offers a wide spectrum of design options – a great fit for customer-specific demands. The polymer is directly utilized for aseptic filling owing to low oxygen permeation – ~1.7% – as compared to fellow plastics. High UV shield aspect complements the stability of biologics. In addition, the robustness and accuracy of COP double chamber prefilled syringes make them suitable for application in autoinjectors. Further, the entire syringe is manufactured in a single process – free of tungsten and adhesives.

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Development of COP double chamber prefilled syringes via injection molding process ensures exact dimensions. As such, the dead volume in the polymer syringe is reduced, minimizing overall wastage of expensive therapeutic drugs, such as hyaluronic acid. The cannula is insert-molded during the injection molding process in lieu of glued in, decreasing the risk of contamination of the injecting fluid.

Aerospace & Automotive Sectors Record Significant Need for Structural Adhesives

Other than booming infrastructure and construction sectors, stringent regulatory standards set for lightweight automotive parts are distinguished to fuel the need for structural adhesives globally. Expanding the utilization of structural adhesives in aerospace employments for diminished weight and enhanced bonding will likewise stay amid the key aspects affecting the market execution. Flooding volume sales in the wind energy production sector are projected to keep producing the need for structural adhesives, explicitly for bonding composites.

Being the hardest and most adaptable, polyurethane-based adhesives are foreseen to display generous need over the years to come. These adhesives are flexible and mainly economic when contrasted with every single other sort of structural adhesives. With developing employment in the automotive sector, polyurethane-based adhesives would keep on encountering huge need, particularly in huge region board holding. Epoxy-based adhesives are seeing high footing in structural bonding usage, and are probably going to account for a huge revenue share in the worldwide market for structural adhesives, trailing polyurethane. Cyanoacrylate adhesives will observe a critical push in the approaching years.

The rigid challenge between the foremost companies in North America and China will facilitate both the regions to proceed with their predominance as far as revenue share in the worldwide market for structural adhesives. European market would likewise be a foremost region in the approaching years. While supporting the development of the construction and automotive sectors will boost the development of Europe and North America, the prospering electronics industry is probably going to boost the development of the Chinese market. China is accepted to proceed with its dominance as the foremost choice among investors. A few of the foremost companies, for example, Henkel AG and Co. KGaA, Sika AG, 3M Company, and Huntsman Corporation have been focusing on increasing an extended value share by a higher interest in China.

While North America and China are right now seen to represent noteworthy market value shares in the worldwide market for structural adhesives, the economies, for example, Latin America, SEAP, and MEA as the higher-prospective regional markets assessed to unlock new prospects for makers in approaching years. MEA is perceived as a high-development low-volume region anticipated to have different prospects over the years to come.

The rising need for lightweight composites amid automakers will assume a critical job in extending volume sales in the next couple of years. The aeronautic sector will likewise keep on advancing remarkable need for lightweight composites & in the long run for structural adhesives. MEA, particularly GCC nations, will purportedly record-high sales inferable from a broadening application base in the transportation industry. GCC is probably going to be a high-development regional market inside MEA, though Africa will foresee comparatively lower development. Producers are at present changing to the advancement of bio-based structural adhesives that is supposed to be an affecting course in the sector. Also, improvement of low temperature-relieved, water-based variations of structural adhesives is an undeniably implemented pattern amid makers. The improvement including low relieving time is likewise inclining among driving organizations, prompting advancements and developing the need. The quick popularity of EVs would likewise apparently add to sales of structural adhesive in the approaching years

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Fast Shift to Digitalization and Flourishing E-business Industry to Prevent Diminution of Photo Printing and Merchandise Market

Development of 3D printing innovation and raising the utilization of cell phone applications will conversely figure out how to sustain the market development at a passive rate, in the approaching years. The most recent trends in the market incorporate Ecommerce organizations concentrating on providing online photo printing services and a larger part of makers concentrating on presenting photo printing kiosks with improved connectivity highlights. Whereas these trends are probably going to elevate the market situation somewhat, the overall market development will stay sluggish all through the projected time frame.

Photo printing at present records for a significant share of the overall market revenue, attributable to proceeded with the popularity of printed photos amid shoppers. Conversely, all things considered, the photo printing section will mislay its market share to product printing, transcendently ascribed to reinforcing the need for product printing items, for example, pillows, mugs, photo books, cushions, and others.

Besides, digital printing will assume control over the film printing module, while mobile printing mode is anticipated to win a significant market share above desktop printing. The market movement in this direction is ascribed to fast digitalization that is affecting the businesses worldwide, since the previous decade.

Instant Kiosks category covers a scope of self-executed automated kiosks and phone booths, where clients can stroll in and get their photographs clicked inside a couple of moments. This distribution channel is utilized for photo print applications. Over the Counter, category covers small unorganized photo studios having contracted photographers for clicking photographs of people. This distribution channel is anyway expected to observe a significant decrease, losing a remarkable market share in the approaching years.

The retail distribution channel will supposedly keep on holding over a 25% value share in the approaching years, reflecting one of the foremost categories in the market. A couple of the main organizations in the retail sector incorporate Target Corporation and, Walmart Stores, Inc., that design, print, as well as sell photograph print and product items in retail. Amid retail giants, Target Corporation has a committed photograph lab in their stores for printing photographs on paper or any product. Individual retail shops which sell photograph print and related items, additionally fall under the retail class.

Western Europe and North America are distinguished to be the foremost regional markets over the year to come. Whereas North America is predicted to lose its value share, Western Europe is foreseen to experience appealing prospects adding to its expanded market share. China and different emerging Asian economies, alongside South East Asian nations, are attempted to observe critical development Prospects in the approaching years. This development has been essentially ascribed to the thriving E-commerce industry. Flourishing utilization of cell phones and developing ubiquity of cell phone applications for clicking and sharing of photographs is distinguished to be another key aspect boosting the market development. Furthermore, always improving broadband foundation and wireless connectivity networks will boost the development of the market in the next couple of years.

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Manufacturing and Sales of Low-Cost Pumps Add to Lion’s Share in China’s Continued Dominance in the Dewatering Pumps Market

Economically emerged regions are seeing respectable development in the dewatering pumps market, ascribed to prospects in existing industrial and commercial procedures. Though, developing economic regional markets are anticipated to observe strong development in need from the forthcoming foundation project all over mining and municipal construction. Expanding urbanization in the rising in addition to emerged economies combined with developing middle-class populace has prompted a flood in worldwide constructional exercises. Another aspect that fortifies the above sentence is the relocation of individuals from meagerly populated towns to thickly populated cities. These elements have prompted an expanded need for lodging and infrastructural improvements around the globe that supports the market development of the dewatering pump, particularly the centrifugal pump category, which is broadly utilized for industrial in addition to the construction sector.

The worldwide GDP is mostly moved by significant emerging nations, for example, China, India and some other Asian nations, inferable from the high accentuation being put on propulsions and infrastructural developments in industrial manufacturing. Because of political and key changes, a few nations have figured out how to develop lucrative for speculators.

Quick urbanization and industrialization in rising economies, for example, India, China and ASEAN market are anticipated to prompt increment in investment in water and energy infrastructure advancement. The majority of pump players have built up a production base in APAC to exploit economical labor. The majority of pump providers have collected a high level of their raw material for pump production from China, with an accentuation on metal castings, trailed by plastics and rubber products. Economical pumps offered by Chinese players are a significant obstruction to defeat for most worldwide players however is surely valuable for the Chinese players. China is the longstanding exporter and is anticipated to hold its strength in the market in the approaching years.

The oil and gas sector, especially in Canada and the U.S., is foreseen to be solid especially determined by hydraulic fracturing in shale gas manufacturing and oil & gas extraction. This trend is foreseen to fuel the need for pumps in North America. With expanding the need for power and energy, end users are incited to upgrade oil and gas recuperation forms from existing fields, also, to investigate new fields. This pattern, combined with the need for automation, eco-friendly and energy-efficient pumps, are projected to provide extensive development prospects for makers in North America. The market is scheduled to develop essentially in the approaching years attributable to the sensational development of the gas and oil sector. This development can be ascribed to remarkable manufacturing of hydraulic fracturing, likewise alluded to as fracking, in the gas and oil sector. Robust fuel flows, surging natural gas exports, and higher crude shipments will enable the US to become a net energy exporter, thusly, expanding the market need. Besides, expanding the need in the chemical sector to move chemicals is additionally expected to add to the market development. Moreover, increasing concerns concerning wastewater treatment and actions being made for the equivalent in North America will fuel market development significantly.

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Pulse Flour Market to Witness Steady Growth in the Foreseeable Future

The pulse flour market in recent years has seen a flurry of activity, as a response to the growing consumer preference for plant based proteins and the demand for different dietary requirements of people around the world. With dietary patterns shifting away from animal products and gluten, diabetic, and vegetarian diets gaining prominence, the local players in the pulse flour are likely to rise to the occasion to meet this demand.

The growth of this highly fragmented pulse flour market, due to growing demand globally, is expected to expand at an above-average rate during the forecast period, will the end of 2026.

Overview of the Pulse Flour Market Report

According to this new report on the pulse flour market by Future market insights, the global landscape is highly fragmented and competitive, with local players holding a majority, a trend that is expected to remain the same in the foreseeable future. The report also includes crucial information about the recent developments in the industry, and how they are likely to shape the evolution of the market as a whole.

The report also provides data on the various drivers and restraints that are expected to influence the global pulse flour market, along with providing an insight into the prospective opportunities for manufacturers in the market as well. This report is aimed at giving players in the market to have information about companies to implement better strategies for business growth.

Segmentation of the Pulse Flour Market Report

This report on the global pulse flour market starts with an executive summary of the market, alongside an analysis of the historical data of the market and future projections on how it is expected to perform in the near future. The second section of this report is a picture of the leading segments and sub-segments in the pulse flour market, based on product, distribution channel and application. The study also contains information on the global prospects of the market with specific emphasis on the regional markets in North America, Latin America, Europe, Japan, APEJ and Middle East and Africa in particular.

The report also contains a section on the overview and the strategies of the various key players in the landscape, which can be especially helpful to new entrants looking to gain a foothold in this highly fragmented market.

Analysis of the Global Market

Due to the increasing awareness of healthy foods and healthy nutrition options, and the affordability of good quality protein is driving the increasing adoption of pulse flour globally. There is an increased focus on pulse flour being used as a raw material for new product development, with it being used in baked products, snacks, breakfast cereals, breads and batter, widely.

Manufacturers are looking to benefit from this inclination for healthy foods by including in their product ranges, a clean flavour and nutritional benefits including protein enhancement, dietary fibres enrichment, and low glycaemic formulation to cater to the tastes of the consumers. The use of pulse flours has also extended into pet foods, which is opening up newer avenues for manufacturers for expansion and growth

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Dry Powder Inhaler Market to Grow at an Average Pace in Foreseeable Future

With the prevalence of chronic respiratory illnesses increasing in recent years, showing no signs of abating at all, the demand for convenient drug delivery systems for the treatment and management of diseases has also grown. Due to their high efficiency and reliability factors, dry powder inhalers are being increasingly preferred by patients for the management of their disease. The popularity of the device with patients and its rapid permeation is opening up lucrative opportunities for manufacturers in the landscape for advances and innovations for better patient outcomes. Stakeholders in the dry powder inhaler market are looking to ameliorate the convenience and easy handling of the device, aligning with a major trend for convenience in the larger medical devices market.

Overview of the Report

According to this study by Future Market Insights, the global dry powder inhaler market has witnessed steady growth in recent years and this trend is likely to continue during the forecast period, ending in 2026. The report includes data on the developments by the stakeholders, including the suppliers, manufacturers and distributers in the global dry powder inhaler market.

This study also provides in-depth market data about the various drivers, restraints, prospective opportunities and underlying trends that are set to influence the dry powder inhaler market. The report is also designed to give players in the landscape information that helps them make better strategies for the future of the business, to gain a competitive edge in the market.

Dry Powder Inhaler Market – Segmentation

This report on the dry powder inhaler market begins with an introduction to the market with an executive summary that gives the readers an overview of the market landscape. This is followed by a very thorough and careful analysis of the underlying trends that are expected to shape the market landscape.

The next section is an analysis of the various leading segments and sub-segments of the market, based on the product type, distribution channel, and application. It also includes historical data of the market to set up context and future predictions on how the market is likely to evolve. This study on the dry powder inhaler market presents a global prospect of the market and a region specific analysis of North America, Latin America, Europe, Japan, APEJ and MEA.

Popularity of Single-use Inhalers

The growing prevalence of respiratory diseases in developing countries due to the rising pollution and nicotine consumption, has led to the popularity of single-use inhalers as against expensive therapies for the treatment of various respiratory diseases. This has led to a surge in single-use devices, as they offer a hygienic and clean alternative to multi-use shared devices. Market players are looking to capitalize on this preference with innovation and development of products that are portable, convenient and easy to use. As these dry powder inhalers have to vary their performance based on airflows, fine particle fraction content, and dose delivery, manufacturers are also focusing on research to cater to these requirements for better patient outcomes, opening up avenues into hitherto unexplored aspects of the dry powder inhaler market landscape.

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The Global Video Streaming Market is projected to reach a Market Value of US$ 591.11 Billion by 2028

Over the span of the last ten years, video streaming has experienced significant changes owing to the rapidly evolving consumer demands and preferences. Further, as video streaming offers consumers the flexibility of streaming video content as per their convenience, the demand for video streaming platforms witnessed a notable surge and the trend is set to continue in the upcoming years. Further, rise in mobile subscriptions, high adoption of mobile connected devices, and growing demand for original content are some of the major factors that are playing an imperative role in the growth of the video streaming market.

Besides, technological advancements have enabled service providers to provide seamless, high quality, and cost-effective video streaming services to consumers. Some of the factors that could possibly dent the growth of the market include, interrupted streaming, piracy activities, and low bandwidth.

Video Streaming Market – Overview

Future Market Insights, in its recently published market study, offers valuable insights regarding the current and future prospects of the video streaming market. As per the report, the global video streaming market is projected to grow at an impressive pace with a CAGR of ~15.6% during the forecast period, 2018-2028. The report offers an in-depth analysis of the regional as well as the global landscape of the video streaming market. In addition, the presented study provides accurate data including the current trends, opportunities, market drivers, challenges, and other factors that are likely to impact the overall landscape of the video streaming market during the assessment period.

Thus, by studying the market research report, market players can take critical decisions and produce impactful growth strategies to enhance their market share and customer base. The findings in the report is a valuable asset for individuals and organizations who are looking to improve their market position, establish global presence, and cement their position in the market.

The market study offers in-depth understanding of the market background which includes the assessment of macro-economic factors, market dynamics, and opportunity analysis. Moreover, the report provides vital information including the market size along with a year-on-year growth assessment backed up tables, figures, and statistical data.

Segmentation of the Global Video Streaming Market

The market study published by Future Market Insights offers a detailed analysis of the global video streaming market. In addition, quantitative data related to the various major sub-segments of the market including market share, size, and more is provided in the report. Moreover, to ensure that the readers can assess the report with ease, the global market is bifurcated on the basis of various parameters including, content delivery channel, type, and industry, region, and revenue model. The quantitative data of each segment is presented in an organized format with relevant figures, tables, and statistical data. The report touches upon the market scenario, current trends, opportunities, and dynamics of the market in the major geographies including, North America, Latin America, South East Asia and Others of Asia Pacific, Japan, China, Europe, Middle East & Africa and more. Moreover, the report includes a region wise analysis of the market attractiveness – critical data for market players looking to expand their overall market presence

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Bioceramic-Based Sealers Witness High Demand in Endodontic Reparative Cement Market: PMR

The dental care industry has evolved tremendously in the past few years attributing to the increased awareness about dental health and availability of advanced dental care tools. A recent study published by Persistence Market Research (PMR) assessed thoroughly the recent trends in the endodontic reparative cement market and found that it reached a valuation of nearly US$ 266 million in 2018. The study opines that the growth of the endodontic reparative cement will remain in proportion with the growth prospects of the global dental care industry, which indicates the positive outlook of the market for the coming future.

In 2018, the demand for bioceramic-based sealers accounted for more than 2/5th revenue share of the endodontic reparative cement market, and it will continue to grow at a rapid pace in the coming years, opines the PMR study. Bioceramic reparative cement is gaining immense popularity in the endodontic reparative cement market with its bioregenerative properties that are integral for various dental procedures and vital pulp therapies. With advent of next-generation technologies and advancements in biomaterial engineering, a mounting number of stakeholders in the endodontic reparative cement market are investing heavily in the development of new bioceramic materials with adequate biocompatibility and bioactive properties, finds the PMR study.

PMR also estimates that the adoption of Mineral Trioxide Aggregate (MTA) into clinical applications will have a significant influence on the emerging trends in the endodontic reparative cement landscape. In 2018, more than half of the revenue share accounted by bioceramic-based sealers in the endodontic reparative cement market was held by MTA-based bioceramic reparative cement, finds the study. Today, MTA is considered one of the most common biomaterials used in endodontic treatments, followed by calcium silicate and calcium phosphate, and this scenario will not change anytime soon, projects the PMR study.

Root Canal Obturation Holds Three-fourth Share of the Global Market Value

The PMR study finds that nearly 72% revenue share of the global market for endodontic reparative cement was accounted by root canal obturation, and it is likely to increase up to 75% by 2025. Among various dental care techniques, indications, and endodontic procedures that involve the use of reparative cement, root canal will remain the top trigger for the global sales of endodontic reparative cement in the coming years.

The PMR study also finds that the demand for MTA-based sealers as a root canal filling will remain high in the coming years, and this will mainly dictate stakeholders’ strategies in the endodontic reparative cement market. Market players are also focusing on improving the biological properties and penetration ability of endodontic reparative cement to suit the requirements in root canal obturation, opines the PMR study.

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The demand and sales of endodontic reparative cement are likely to remain highest in developed regions, including North America and Europe, attributing to the high awareness about dental health and availability of high-quality biomaterials used in reparative cements. However, in the coming years, manufacturers are likely witness high growth opportunities in developing countries, especially in East and South Asia, with the substantial rise in the dental care procedures performed in these countries, projects the PMR study.

Agarwood Chips Market to Reach US$ 64 Bn by 2019 – 2029: PMR Study

A recent market study published by Persistence Market Research (PMR) opines that the global sales of agarwood chips reached US$ 30 billion in 2018, and the market is expected to witness impressive growth in the coming years. The PMR study mainly attributes the rise in demand for agarwood chips in the fragrance industry for the incremental growth of the market, and projects that the potential growth opportunities in the Middle East will further improve the sales potential of agarwood chips in the coming years.

The PMR study thoroughly assesses the impact of various macro and microeconomic factors on the growth prospects of the agarwood chips market during the period 2019-2029, and forecasts that the market will grow 2X during the course of the study. In 2018, Middle East and Africa accounted for more than half the revenue share of the global market for agarwood chips, and it will continue to remain an important regional market for stakeholders in the coming years, opines the PMR study.

Cultural factors remain the growth triggers for the agarwood chips market in the Middle Eastern countries, such as UAE, as agarwood is an integral part of the Middle Eastern culture. The ancient traditions of using perfuming garments and burning high-grade agarwood on special occasions are the indication and reflection of social status in the Arabic countries. Being an indispensable part of the Middle Eastern culture and lifestyle, the demand for agarwood chips is likely to remain high in the region, creating lucrative sales opportunities for market players in the coming years, projects the PMR study.

Restrictions on the Production and Trade of Agarwood Impacts the Market Growth

In most countries, agarwood plants are considered endangered species and are protected by stringent governmental laws of forest conservation. With the natural supply of agarwood being limited and changing climate slowing the growth of the agarwood trees in many countries, governing bodies have imposed stringent regulations and rules on the production of agarwood products, including agarwood chips. Furthermore, agarwood trees are only found in countries such as India, Malaysia, Thailand, Singapore, Vietnam, Loa PDR, and Cambodia, and this coupled with strict restrictions on the production leads to a significant imbalance between supply and demand for agarwood chips, finds the PMR study.

The study also opines that the availability of adulterated or fake agarwood products is increasing incessantly in the agarwood chips market. This is leading to the imposition of trade restrictions on various agarwood products. While the price of agarwood chips is already high due to the scarcity of natural agarwood supply, it will further increase with the implementation of strict trade regulations of agarwood chips, opines the PMR study.

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However, lucrative sales opportunities for agarwood chips in the fragrance industry and their high demand in the personal care sector is expected to attract a mounting number of new entrants in the agarwood chips market. The PMR study opines that the agarwood chips market will continue to remain a moderately fragmented market with a mounting number of small business sprouting up across countries, and this will further contribute to the expansion of the market along with the rise of new trends in the landscape.