Market Research Blog – Page 1907 – New Product Development

Capitalize on Health Trends: Fresh Figs Market Set to Soar to US$ 2.38 Billion by 2033, Driven by Nutritional and Medicinal Benefits

The fresh figs market is anticipated to expand its roots at an average CAGR of 5.0% between 2023 and 2033. The market is expected to cross a market share of US$ 2.38 billion by 2033 while it is likely to be valued at US$ 1.45 billion in 2023.

High demand for organic fruits and vegetables along with the growing awareness around fig’s medicinal qualities are fuelling the market growth.
The advent of fresh fig syrup and its usage in different beverages, and food items are expanding the fresh figs market size.
The surging confectionery business is positively affecting the fresh figs market. It is due to the direct application of figs in pastries, bread, and cakes.
The medicinal qualities of figs help people in dealing with diabetes, heart trouble, and other diseases while boosting the immune system to work effectively.
Fruit-based businesses producing different forms of figs such as dried, and semi-dried figs are also gaining traction for market growth.
The market growth is also attributed to the expanding online grocery platforms. These platforms sell organic, farm-to-home fruits and vegetables. Also, Covid-19 has made people habitual in ordering groceries and food items online, reflecting the higher sales of fresh figs in the market

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Key Points

The United States held 17% of the market share in 2022. The growth is attributed to the higher penetration of e-commerce and online grocery options. Alongside this, the rising awareness among citizens around the health benefits of figs is making a way for the regional market to bloom.
India, on the other hand, holds the utmost opportunity as it thrives at a very strong CAGR of 27.5% between 2023 and 2033. Indeed, the population has a play in rapid growth. Though, higher production and demand for fresh figs is also due to the use of fig as an alternative medicine.
The United Kingdom thrives on a CAGR of 3.3% between 2023 and 2033. The growth is attributed to the expanding bakery industry in the region with the usage of fresh fruits in bread, cakes, and other confectionery items.

Competitive Landscape

The competitors are focusing on producing application-specific figs while also keeping fresh figs with faster transportation to retail stores. The fig businesses use syrups to keep the figs fresh and ready to eat. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are Hadley Fruit Orchards, Inc., Roland Foods LLC, Meurens Natural S.A., FruitLips, Jiaherb, Inc., Athos Agricola S.A., Earl’s Organic Produce, Alara Agri, Isik Tarim A.S., Valley Fig Growers, Inc., Kirlioglu Figs, Yabanfood, National Raisin Company, and Torres Tropical Fresh B.V.

Recent Market Developments

Earl’s Organic Produce has introduced different common fig varieties such as black mission, excel, brown turkey, Kadota, and Adriatic. Furthermore, the advanced storage options for concentrating the flavors and sugars.
National Raisin Company, a producer of dried figs with private-label options. The dried whole black mission figs that are produced are enclosed in the folded, blue food-grade, and taped corrugated box.

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Market Segmentation

Analysis by Nature:

Organic
Conventional

Analysis by Variety:

Smyrna Figs
Black Figs
Sari Lop Figs
Mission Figs
Kadota Figs
Others

Analysis by Sales Channel:

Modern Trade
Specialty Stores
e-Retailers
Grocery Stores
Wholesale Stores
Industrial
Foodservice/HoReCa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Unlock Market Potential: Polydextrose Market to Reach US$ 338.4 Million by 2033 with Diverse Industry Applications

The global polydextrose market share is likely to generate a revenue of nearly US$ 226.6 million in the year 2023.

FMI projections further project the market to register a CAGR of 4.1% between the years 2023 and 2033. This report further predicts the demand for polydextrose, in terms of value, to reach US$ 338.4 million by the end of the year 2033.

The primary driver influencing the market is the rise in the knowledge of the advantages of using polydextrose sweeteners, such as their reduced calorie content and increased fiber content. Additionally, rising consumer demand for polydextrose prebiotics along with a change in consumer priorities for maintaining good health has strengthened the market further.

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The sales of polydextrose are also anticipated to benefit from expanding areas of application in the food and beverage sector. Furthermore, an uptick in corn cultivation activities and a rise in food processing industries are the supply-side factors propelling the growth of the polydextrose market.

Key Takeaways from the Global Polydextrose Market Study Report

The estimated size of the United States polydextrose market is US$ 43.7 million in the year 2023. As per the market report, it is expected to progress at a 2.6% annual growth rate and reach US$ 56.7 million by 2033.
China’s polydextrose market is expected to grow at a higher CAGR of 5.9% than any other country over the next ten years. By the end of this forecast period, this regional market is poised to reach a valuation of US$ 42.5 million.
In the European region, the demand for polydextrose in Germany is anticipated to reach US$ 20.6 million by the end of 2033. The sales of polydextrose in Germany are projected to witness a year-on-year growth rate of 3.3% during these forecast years.
India is another noteworthy region with surging demand for polydextrose fiber supplements in the Asia Pacific region. The regional market is anticipated to grow at 4.6% CAGR during the forecast years and reach a valuation of US% 5.3 million by its conclusion.
Over the forecast years, the polydextrose powder segment examined in the report is anticipated to register a 2.4% CAGR. Meanwhile, the growth of the liquid polydextrose segment is readjusted to a higher CAGR over the coming ten years.
Based on end-use, the use of polydextrose sweeteners as dietary supplements is growing promisingly in the present market. As per the report, this segment is projected to grow at an annual rate of 5.7% over the forecast years.

Competitive Landscape for the Polydextrose Market Players

Tate & Lyle PLC, Danisco (DowDuPont Inc.), Cargill Inc., The Scoular Company, Baolingbao Biology, Samyang Corporation, Golden Grain Group Limited., Foodchem International Corporation, Shandong Bailong Chuangyuan Bio-Tech Co., Ltd., Henan Tailijie Biotech Co., Ltd, and Rajvi Enterprise Private Limited among others are some of the key players in the global polydextrose market.

Businesses have been shown to get into arrangements with producers of food and drinks in an effort to increase their sales of polydextrose supplements. Moreover, substantial marketing is anticipated to raise consumer knowledge about polydextrose soluble fiber and hence enhance demand for it in the future.
In 2017, Tate & Lyle Company updated its production line and increased production levels at its STA-LITE® Polydextrose factory in China,. This facility in Nantong currently has a capacity that is almost three times greater than it had earlier.

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Market Segments Covered in Polydextrose Industry Analysis

By Form :

Powder Form
Liquid Form

By End Use :

Bakery & Confectionery
Breakfast Cereals
Snacks & Bars
Dairy Products
Desserts & Ice Cream
Soups, Sauces, & Dressings
Spreads & Fillings
Beverages & Dairy Drinks
Dietary Supplements
Animal Feed and Pet Food

About Future Market Insights (FMI)

Maximize Sales of Fructose Market to Soar to US$ 15.6 Billion by 2033, Fueled by Demand for Sugar-Free and Low-Calorie Products

At a CAGR of 5.9% from 2023 to 2033, the global fructose market is to reach US$ 15,556.5 million in 2033, up from an estimated US$ 8,791 million in 2023.

Throughout the projected period, the market may well be likely to expand at a rapid pace. The rising global demand for fructose is driving growth in the global fructose market. While fructose is naturally present in fruits and vegetables, the food and beverage industry employs refined fructose obtained from corn syrup in their products.

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Experiencing Increased Health Consciousness and Growing Demand for Sugar Replacements

Increasing consumer health consciousness and disposable wealth in developing countries have resulted in the growing demand for sugar replacements such as fructose, which is calorie-free. Individuals with high blood sugar and diabetic patients choose calorie-free sweeteners, which promote the expansion of the fructose business.

The food and beverage industry’s constant demand for fructose as a sweetener for various food products such as bread products, health drinks, juices, and confectionary has considerably contributed to the growing demand for fructose. Fructose sweetener is utilized as a non-caloric sweetener in several food dishes, generating demand for the fructose syrup market from families and restaurants.

Increasing Worries over Diet Intake are Impeding the Market Expansion

According to the World Health Organization (WHO), 73% of fatalities in 2020 are predicted to be caused by disorders connected to nutrition. Customers are becoming more concerned about their dietary intake as awareness of obesity, diabetes, cardiovascular diseases, and digestive problems grow.

One of the main things that are thought to be slowing the fructose syrup market growth is that consumers all over the world are switching from fructose sweeteners to zero-calorie sweeteners.

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Regional Outlook

With a sales share of more than 44%, North America dominated the global fructose market. The rise of the sector has been aided by the popularity of packaged beverages in the area, such as juices, sports drinks, and carbonated soft drinks. Consumer preferences in this area are gradually turning towards organic goods, which are probably going to adversely impact product demand.

Due to the growth in geriatrics, who are sensitive to chronic diseases, the demand is increasing in Europe at a slow pace. Since customers in the area prioritize their health, they consume few sweet foods and beverages, which has an impact on the fructose market expansion.

Asia Pacific is to witness significant growth because of the significantly growing beverage industries in China and India. The demand for food products including bottled drinks, candies, and chocolates is to increase due to the growing population and a change in consumer lifestyle.

Key Takeaways:

From 2023 to 2033, the sugarcane segment in the source category is to expand at a CAGR of 5.6%.
Between 2023 and 2033, the application segment in the end-use category may develop at a CAGR of 6.5%.
The United States fructose market is to develop at a CAGR of 30.2%, reaching US$ 1,379.6 million by 2033.
Germany fructose syrup market is to secure a CAGR of 33%, reaching US$ 718.6 million by 2033.
The United Kingdom fructose market is to capture a CAGR of 31.3%, reaching US$ 747.3 million by 2033.
China fructose market is to hold a CAGR of 32.6%, reaching US$ 1,207.2 million by 2033.
Spain D-fructose market is to witness a CAGR of 33.3%, reaching US$ 534.6 million by 2033.

Analysis of the Business

Due to the existence of numerous large and medium-sized businesses that provide comparable items, the fructose market is extremely fragmented and competitive. The value chain has vertically integrated key fructose manufacturers.

To access the local markets, fructose manufacturers are primarily focusing on small- and medium-sized end users. Additionally, they are attempting to take root in emerging economies where the bread, dairy, and food & beverage sectors are all expanding significantly. These tactics help businesses enter local markets and give them new prospects for expansion.

Notable Innovation and Development:

The VANTAGE sweetener solution design tools were made available by Tate & Lyle in July 2020. It is both an educational curriculum and a collection of fresh and cutting-edge tools for designing sweetener solutions for foods and beverages that are low in calories and high in sweetness.

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Capturing Growth: Passion Fruit Extract Market to Surge to US$ 1.42 Billion by 2033

The global passion fruit extract market is valued at US$ 634.9 million in 2023. The overall demand for passion fruit extracts is expected to develop at an 8.4% CAGR over the forecast period from 2023 to 2033. Global sales of passion fruit extracts are anticipated to reach US$ 1,420.3 million by 2033.

Passion fruit extract, known for its exceptional antioxidant capabilities, has been recognized as a very significant functional food source. Worldwide consumption of passion fruit extract has increased as health-conscious people want to include this natural source in their diets.

After passion fruit extract’s rising applicability across a range of end-user applications, it has attracted a lot of interest and appeal in recent years. During the forecast years, the use of passion fruit extracts as an effective treatment for insomnia is poised to boost the market further.

“The increasing demand for passion fruit extracts in developing economies such as China and India is creating opportunities for industry participants to set up business units. Additionally, emerging trends regarding the medicinal properties of passion fruit extracts are expected to foster innovation and growth in the passion fruit extract market” – FMI analyst.

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Key Takeaways from the Global Passion Fruit Extract Market Report

The US passion fruit extracts market is highly developed and currently leads the global market in terms of demand and sales. In the year 2022, the country alone contributed almost 24.8% of the revenue generated by the market worldwide.

In Europe, France is figured to be the leading regional market for passion fruit extracts with a 7.1% global market share in 2022. Italy follows France in the consumption of passion fruit extracts and acquired a global market share of 6.1% in 2022.
China, with a strong food processing industry base, is the leading country for the production of passion fruit extracts. At the end of the year 2022, the overall market in China’s passion fruit extract industry was figured to capture 11.3% of the global share.
India is another remarkably growing country in sales of passion fruit extracts contributing to nearly 6.1% of the global share.
Among the different types of species of passion fruit used in the making of its extracts, Passiflora flavicarpa is the most preferred. It provided for almost 53.8% of the global passion fruit extract production in 2022.

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Competition Analysis of the Passion Fruit Extract Market

The overall market for passion fruit extracts is fairly consolidated owing to the presence of a few authentic players in the present market. However, the proliferation of passion fruit extract sales over online channels has created favorable opportunities for the entry of passion fruit processing industries.

Recent Developments in the Passion Fruit Extract Market

In December 2022, Making Cosmetics LLC introduced its new product line of passion fruit extracts by the name Fragrance Pink Grapefruit Passion Fruit. It incorporates fresh fragrance produced with both natural and synthetic fragrance ingredients. Also, the product is water-insoluble and phthalate-free which gives it an advantage over other brands.
PASSION FRUIT EXTRACT H.GL – M.S. was introduced by Provital Company in October 2022, with an extract that dissolves in water. It is specially designed as a moisturizing additive to prevent surfactant agents from acting aggressively. Supplying chemicals and ingredients for making personal care and cosmetics are Provital’s areas of expertise in both manufacturing and sales.

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Explosive Growth Forecast: Food Testing Services Market to Reach US$ 49.06 Billion by 2033

The global food testing services market stands at US$ 21.7 billion as of now and is expected to reach US$ 49.06 billion by the year 2033 at a CAGR of 8.5% between 2023 and 2033.

Food safety testing comes across as a vital and also an unavoidable component regarding the food industry. Every level of processing is subject to regulations related to food safety tests, inspection of microbiological quality (DNA analysis), and trace elements. The standards and regulations are certainly different from nation to nation. With consumers developing more awareness about food safety, the global food testing services market is likely to grow inadvertently in the forecast period.

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Various participants in food & beverages sector are emphasizing on streamlining the process of food certification by simplifying data logging and documentation. Plus, the players are on the lookout of optimizing certification costs. As such, the food testing services market size is expected to witness turbulence on the continuous basis in the near future.

The initiatives taken by governments on this count include GFP (Good Farming Practice), GAP (Good Agricultural Practice), and GMP (Good Manufacturing Practice) for ensuring safety of food.

Though developing countries are working on food regulatory infrastructure, dearth of resources to restructure is hampering the food testing services market and this scenario is expected to persist even going forward. It will certainly take some time for these economies to pick up pace. Future Market Insights has walked through these findings with insights in its latest market study entitled ‘Food testing Services Market’. There are analysts and consultants to execute.

Key Takeaways from Food testing Services Market

Europe holds more than 30% of the market share. This could be credited to the flourishing food & beverage industry throughout. This, in turn, calls for inclination toward microbiological testing along with chemical & residues’ contamination testing. Germany is at the forefront herein.
North America holds a significant market share with food safety testing being made compulsory at every stage of manufacturing and processing, thereby ascertaining safe food for the customers.
The Asia-Pacific is expected to grow at the fastest rate in the food testing services market due to food sector growing by leaps and bounds in the developing economies, along with need to put forth strict regulations with regards to food safety, especially in countries like India. Herein, the by-products of agrochemicals are used for growing produce and also for antibiotics or veterinary drugs.

Competitive Landscape

NEOGEN is known for partnering with commercial testing labs for providing a series of services and solutions that are the most sought-after ones in the industry.
Thermo Fischer Scientific has its microbiology solutions that incorporate molecular instrumentation, PCR technology, sample preparation capability, and lab equipment and plasticware for quality indicator and foodborne pathogen detection, and, not to forget – conventional culture media with immunological and biochemical tests.
Bureau Veritas, of late, acquired Orion Assessment Services International Inc.’s. The major objective was that of improving the former’s food lab testing capabilities all over Canada.
Check and Trace has been tabled by ALS Ltd. It is capable of identifying Salmonella isolates with level of sensitivity identical to traditional serological techniques.

“With improvised instrumental techniques like NMR (Nuclear Magnetic Resonance), IR (Infrared Spectroscopy), enzyme-linked immunosorbent assay (ELISA), and mass spectroscopy increasingly being used regarding safety assurance, the global food testing services market is bound to grow on an unstoppable note going forward”, says an analyst from Future Market Insights.

How does the Report come around?

The research study is based on type (pathogens, salmonella, campylobacter, E. coli, listeria, GMOs, toxins, and likewise), by technology (traditional, rapid, PCR (Polymerase Chain Reaction), DNA sequencing/NGS, immunoassay, chromatography, and spectroscopy), and by food tested (meat, poultry and seafood, processed food, fruits & vegetables, dairy products, cereals & grains, and likewise).
With an ever-increasing demand for processed and packaged food in developing and developed countries alike, the food testing services market is all set to create greater strides in the forecast period.

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Food Testing Services Market by Category

By Type:

Pathogens
Salmonella
Campylobacter
E. coli
Listeria
Pesticides
Genetically Modified Organism
Toxins
Others

By Technology:

Traditional
Rapid
Polymerase Chain Reaction
DNA Sequencing/NGS
Immunoassay, Chromatography
Spectroscopy

By Food Tested:

Meat, Poultry, and Seafood
Processed Food
Fruits & Vegetables
Dairy Products
Cereals & Grains
Others

About Future Market Insights (FMI)

Domestic Food Preparation Appliances Market to Expand at 6.1% CAGR Through 2032 | FMI

The domestic food preparation appliances market is anticipated to grow at a CAGR of 6.1% over the course of the forecast period 2022 to 2032, rising from USD 601,532 Million in 2020 to USD 963,451 Million in valuation by 2026.

The Domestic Food Preparation Appliances Market is witnessing steady growth due to changing consumer lifestyles and increasing focus on convenience in kitchen tasks. With the rise in urbanization and dual-income households, demand for time-saving and efficient kitchen appliances has surged. Innovation in smart technologies and eco-friendly designs are expected to drive further market expansion.

Domestic appliances are mechanical or electrical devices used in daily life to carry out chores around the house like cooking, cleaning, and laundry. Kitchen appliances, personal care appliances, home comfort appliances, and other appliances are the different categories of domestic appliances. The segment of kitchen appliances known as domestic food preparation appliances.

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Domestic food preparation appliances are any electrical or mechanical devices that make it simple to prepare the food that people consume on a regular basis. The domestic food preparation appliances market is expanding globally due to consumers’ growing desire for simple, convenient lifestyles.

On the basis of application domestic food preparation appliances market can be segmented as blenders, food processors, juice extractors, grinders and choppers, citrus pressers, mixers and other food preparation appliances. Among all these segments juice extractor is expected to account for the major share in terms of the revenue contribution to the overall market. Increasing consumer concerns for healthy lifestyle is supporting the growth of juice extractor segment worldwide during the forecast period. Moreover, grinders and blenders are also expected to show a substantial growth during the forecast period.

On the basis of distribution channel, the domestic food preparation appliances market segmentation includes supermarket/hypermarket, electronic retail outlets, franchise outlet (company’s brand retail outlets) and e-retailing. Among all these segments supermarket/hypermarket is expected to account for the major market share followed by sell out through internet. Growing retail industry across the globe is expected to support the sellout of domestic food preparation appliances through supermarket/hypermarket in the near future. Sell out through internet is also expected to account for major contributor in terms of revenue generation. This is due to the consumer preferences for convenience and availability of the products at lower price.

Domestic Food Preparation Appliances Market Drivers

Rising urge of the consumers for better and convenient lifestyle is driving the growth of domestic food preparation appliances market across the globe. Moreover continuous innovation and product launches coupled with consumer inclination for having modular kitchen products is attracting the consumer, which is fueling the demand of domestic food preparation appliances during the forecast period. In addition, influence of consumers from various television cookery shows is supporting the demand of domestic food preparation appliances worldwide.

Domestic Food Preparation Appliances Market: Key Players

Few international players operating in domestic food preparation appliances market include Bajaj Electricals Ltd., Koninklijke Philips N.V., Groupe SEB, Sunbeam Mexicana S.A. de CV, Kenwood Ltd., Joyoung Co Ltd., De’Longhi UK Ltd., Joyoung Co Ltd, Whirlpool Corp. and Breville Group Ltd. among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Frequently Asked Questions

What is the Growth Outlook for the Domestic Food Preparation Appliances Market?
Who are the Key Players in the Domestic Food Preparation Appliances Market?
What is the Future of the Domestic Food Preparation Appliances Market?
Which is the Key Driver in the Domestic Food Preparation Appliances Market?

Author

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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Is Rising Consumption of Packaged Food Items Scoring Big Bets in the Gusseted Bag Market? FMI Reveals with Statistics.

The gusseted bags market has been growing rapidly in recent years, with its valuation reaching an estimated US$ 4.4 billion in 2024. The market is expected to progress at a CAGR of 3% through 2034, with its valuation surpassing US$ 6.1 billion by 2034.

One of the major drivers of this growth is the increasing demand for eco-friendly packaging solutions. Consumers are becoming more environmentally conscious and are looking for sustainable and biodegradable packaging materials.

Gusseted bags are designed to be lightweight and easy to carry, making them an ideal choice for consumers who are always on the go. The food and online delivery industry have been the largest contributors to the growth of this segment. The need for quality and shelf life of products has created a huge demand for these bags. The cost-effectiveness and availability of various shapes and sizes make them a preferred choice for all.

Gusseted bags offer customization and branding elements, making them an attractive packaging option for companies looking to create a unique identity for their products and increase their market share.

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Plastic gusseted bags, in particular, offer exceptional product visibility, making them the preferred choice in packaging products. They provide an excellent barrier against external factors, ensuring shelf stability and a clear view of the product. This feature is crucial, especially in the food and beverage industry, where customers prefer to see the product before making a purchase.

“Companies that offer eco-friendly and customized gusseted packaging solutions are likely to gain a competitive edge in the market, driven increasingly by sustainability trends, convenience, and customization elements,” – opines an analyst at FMI.

Key Takeaways from the Market Study

Plastic gusseted bags account for a significant share of 57.4% in 2024.
Retailers have contributed significantly to the gusseted bag sector, with a share of 43.1% in 2024.
The gusseted bag market in India is expected to experience exponential growth at a 6.1% CAGR through 2034.
The gusseted bag market in China is anticipated to develop at a CAGR of 4.7% through 2034.
The gusseted bag market in Thailand is projected to inflate at a CAGR of 4.3% through 2034.
The gusseted bag market in the United States is estimated to rise at a 2% CAGR through 2034.
The gusseted bag market in the United Kingdom is predicted to rise at a 1.6% CAGR through 2034.

Competitive Landscape

Market players are focusing on expanding their offerings in packaging solutions by adding novel products to gain a competitive edge. Manufacturers are aiming at collaboration, merge, and acquisition with other players to strengthen their footprint in the market.

Some of the companies in the market are United States Plastics Corp, Columbia Burlap & Bag Company, Altapac, Poly Pak Plastics, ELKAY Plastics, Associated Bags, Maco PKG, Clear View Bag Company, International Plastic, Pacific Bag Inc., and PBFY Flexible Packaging.

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Recent Developments:

TricorBraun’s acquisition of Pacific Bag on January 10, 2019, helped the company establish a new flexible packaging division, expanding its product line.
Old Trapper Smoked Products introduced new packaging for their beef sticks on September 1, 2021, featuring a gusseted bag to improve product freshness and visibility.

Segmentation of Gusseted Bag Market

By Material:

The sector is divided bifurcated into plastic and paper, based on material. Plastic material includes polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polylactic acid (PLA), and others (PVC, PS, etc.). Paper material includes brown kraft and white kraft.

By Distribution Channel:

Direct sales (manufacturers), distributors, brick-and-mortar stores, and E-retail are categorized as top distribution channels of this industry.

By End Use:

Retail, commercial, institutional, and households are key end users of the gusseted bag market.

By Region:

Regional industry analysis has been carried out in key countries of North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe.

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Consumer Electronics Packaging Market is Anticipated to Rise at a CAGR of 4.5% through 2034 | Says FMI

The global consumer electronics packaging market size is estimated to be around US$ 19.6 billion in 2024. It is projected to exhibit a CAGR growth of 4.5% over the forecast period, with an estimated valuation of US$ 30.4 billion in 2034. With the continuous introduction of new electronic devices and gadgets, there is a constant demand for innovative packaging solutions to protect these products during transportation, storage, and display. Additionally, the growing trend of eCommerce and online retailing has fueled the need for durable and secure packaging to ensure safe delivery to consumers’ doorsteps.

Despite its growth potential, the consumer electronics packaging industry faces several challenges that act as restraints to its progress. One significant restraint is the constant pressure to reduce packaging costs while maintaining quality and functionality. This often leads to compromises in material quality and durability, which can impact the protection of electronic devices during transit.

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A significant opportunity for players lies in the development of smart packaging solutions that integrate technology to enhance product functionality and user experience. Furthermore, the increasing adoption of sustainable packaging materials presents an opportunity for companies to align with environmental initiatives and tap into the growing market for eco-friendly solutions.

One notable trend is the increasing use of minimalist packaging designs, characterized by sleek and compact layouts that reduce material usage and environmental footprint. Another trend is the integration of smart packaging technologies, such as RFID tags and NFC chips, to enable product tracking, authentication, and interactive experiences for consumers. Moreover, there is a growing emphasis on biodegradable and compostable packaging materials, driven by consumer preferences for eco-friendly products and brands committed to sustainability.

“The rising demand for personalized and customized packaging offers opportunities for packaging manufacturers to differentiate their products and cater to the unique needs of consumers.” Says a Lead Analyst at FMI.

Key Takeaways from the Market Study

Corrugated boxes hold a dominant share of 23.1% in 2024, providing a cost-effective solution for manufacturers.
Mobile phone packaging marks its dominance with a 24.1% share in 2024.
The consumer electronics packaging industry in the United States is anticipated to rise at a CAGR of 2.4% through 2034.
The consumer electronics packaging industry in the United Kingdom is projected to rise at a CAGR of 4.6% through 2034.
China’s consumer electronics packaging industry is likely to witness expansion at a CAGR of 6.5% through 2034.
Japan’s consumer electronics packaging industry is projected to rise at a CAGR of 3.6% through 2034.
South Korea’s consumer electronics packaging industry is set to expand at a CAGR of 5.6% through 2034.

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Competitive Landscape

The consumer electronics packaging industry includes established giants like Tetra Pak, Amcor, International Paper, and Sealed Air vie for dominance while facing increasing competition from startups. These industry players command a significant market share with their robust infrastructure and diverse offerings, yet they must contend with innovative upstarts focused on customization, sustainability, and cost efficiency. The sector is characterized by a dynamic interplay between established players and emerging challengers, shaping the landscape with their evolving strategies and market approaches.

Sustainability is emerging as a crucial element in the consumer electronics packaging industry, driven by consumer demand and regulatory pressures. Companies are under increasing pressure to adopt eco-friendly practices and materials, with innovations in sustainability offering a competitive edge.

As the industry expands into emerging markets like China and India, companies face both opportunities and complexities. While these regions offer vast potential, navigating local regulations, preferences, and supply chains requires adaptability and a deep understanding of each industry.

Recent Developments:

Mondi Group created a novel packaging solution called PerFORMing, which is a paper-based tray that can replace plastic trays in food packing. The product is recyclable, biodegradable, and cuts plastic use by 80%.
Sonoco Products Company announced a new sustainability target of reducing greenhouse gas emissions by 25% by 2025. The corporation also intends to enhance its usage of renewable energy and invest in energy-efficiency initiatives.
Sealed Air Corporation recently introduced a new product line dubbed Korrvu Lok, a compression packaging technology that keeps items in place and minimizes damage during transportation. The solution is intended for eCommerce and omni-channel businesses, and it may minimize packaging material and labor expenses.
Huhtamaki Oyj acquired Jiangsu Hihio-Art Packaging Co. Ltd., a Chinese maker of paper bags, wraps, and folding carton packaging. Huhtamaki’s position in the developing foodservice packaging sector in China and Asia Pacific will be strengthened as a result of the purchase.

Key Segments

By Product Type:

Corrugated Boxes
Paperboard Boxes
Thermoformed Trays
Bags & Pouches
Blister Packs & Clamshells
Protective Packaging
Others

By Application:

Mobile Phones
Computers
- Laptops & Tablets
- Desktops & Servers
TVs, DTH & Set-Top boxes
Music Systems
Printers, Scanners & Photocopy Machines
Game Consoles & Toys
Camcorders & Cameras
Electronic Wearable
Digital Media Adapters
Others

By Material Type:

Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Poly Vinyl Chloride (PVC)
- Polyamide (PA)
- Polyethylene terephthalate (PET)
- Polystyrene (PS)
- Others
Paper & Paperboard
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa

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Boat Trailers Market Forecast to Expand at 4.5% CAGR, Surpassing USD 1,590 Million by 2033

The boat trailers market worldwide reached a consensus value of USD 978.7 million in 2022. The estimated market value in 2023 will probably be close to USD 1,023.9 million. A sluggish 4.5% CAGR between 2023 and 2033 seems likely to push the market to USD 1,590 Million in 2033.

Boat trailers have a number of unique selling points (USPs), including customising choices, a variety of load capacities, and separate low-speed and high-speed trailers. Increasing marine tourism and expanding boat fleets are two major factors propelling the boat trailer market’s rise.

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The market for boat trailers is expanding quickly due to the growth of marine tourism and recreational water activities. Rising boat trailer sales are also a result of an increase in maritime tourism activities including boating, yachting, kiteboarding, water skiing, and so forth.

Additionally, tourism is growing in countries having access to rivers. As a result, both emerging and developed nations are seeing an increase in demand for boats and other water-related equipment for recreational purposes.

Increasing Boat Sales for Recreational Activities:

The boat trailers market growth is directly correlated with increasing fleet of boat and new sales of boats. With the increase in the growth of marine tourism and water activities, the demand for new boats is expected to rise, which in turn, fuels the sale of boat trailers.

The main advantage offered by the boat trailer is to provide the flexibility for transport boats to various places such as inlets, rivers, lakes, bays, & the sea. There are two types of boat trailers, bunk and roller type trailers, which are used by end users. With the increase in boat parc, the demand for boat trailers also increased as boat trailers provide safety to boats and increases the life of a boat.

Boat trailers also prevent salt water boats from rust formation due to coatings and change of materials. Such features have led to the growth of the global boat trailer market.

Moreover, increasing average life of the boat and growing maintenance and services of boats, increases the sales of boat trailers for old boats. In 2017, more than 10 million boats were registered in the U.S. and this number is estimated to grow with ~ 1% growth rate in the near future. With the increase in the U.S. boat fleet, the sales of boat trailers also increases as the U.S. holds ~43% share in the global boat trailer market.

Leading Key Players:

Kropf Industrial Inc.; HOSTAR Marine Transport Systems, Inc.; TRIGANO Group; Hydrotrans; Balbi Rimorchi srl; EZ Loader; Midwest Industries Inc.; TRACKER; Load Rite; Karavan Trailers; HLT Ltd.; Boatmate Trailers; Venture Trailers

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Market Attractiveness of the South Asia-East Asia-ASEAN Cluster Surging:

In the global boat trailers market, South Asia and East Asia are estimated to grow with high growth rate over the forecast period due to the increasing number of marine tourists and also, increases the sales of boats and boat parc across regions. In East Asia, China is one of the prominent countries and holds a significant share in the market due to the presence of several manufacturers in the country.

China is expected to drive the growth of the East Asia boat trailer market. In South Asia, India and ASEAN countries are estimated to boost the growth of the market due to the increasing disposable income of the middle class population. The North America market is projected to be a prominent market in the global boat trailers market, owing to the high demand and use of boat trailers for personal and commercial applications.

Moreover, Latin America and Middle East & Africa markets are also estimated to grow with healthy CAGR throughout the forecast period. We have also considered the Caribbean region in Latin America. All prominent macroeconomic and forecast factors are included while calculating the boat trailers market size.

Boat Trailers Market Segmentation:

By Product Type:

Bunk Trailers
Roller Trailers
Hybrid Trailers

By Material Type:

Aluminum
- Single Axle Type
- Triple Axle Type
- Tandem Axle Type
Galvanized Steel
- Single Axle Type
- Triple Axle Type
- Tandem Axle Type

By Load Capacity:

Up to 1,500 Kg
1,500 Kg to 3,000 Kg
3,000 Kg to 4,500 Kg
More than 4,500 Kg

By Region:

North America
Latin America
East Asia
South Asia and Pacific
Western Europe
Eastern Europe
Central Asia
Russia and Belarus
Balkan and Baltics Countries
Middle East and Africa

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Commercial Air Fryer Oven Market Size Rising to USD 1,409.2 Million by 2033

Air fryer producers promote their products as a way to prepare and consume fried food without the associated health dangers. items that are air-fried may be healthier since they contain less fat than items that are deep-fried.

The Commercial Air Fryer Oven market is poised for substantial growth, with its size expected to surge from USD 848.8 million in 2023 to surpass USD 1,409.2 million by 2033. This significant expansion is attributed to the increasing demand for commercial air fryers, driven by the growing popularity of fast food and snacks prepared using healthier cooking methods.

Fried food consumption is directly associated with a higher risk of developing a number of ailments. As a result, people start to wonder why they don’t eat a lot of deep-fried items that are high in calories and fat.

Deep-fried food that is prepared in a sizable pot of hot oil carries risk and may be harmful. Air fryers do get hot, therefore there is a chance of leaks, splashes, or unintended contact with hot oil. Users should handle frying equipment properly and in accordance with directions if they want to ensure their safety.

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An important benefit of an air fryer is that it heats up really rapidly, and the moving air helps the food cook uniformly, brown, and get crispy without much of your input. As a result, you can shorten the time you spend cooking. Aside from the fact that it heats up more quickly than an oven, an air fryer cooks food more quickly than an oven since it is smaller.

Key Takeaways from the Commercial Air Fryer Oven Market Study:

The Commercial air fryer oven market is estimated to be market value USD 1,200.0 Mn in 2023
The North American Commercial air fryer oven is value at USD 456.0 Mn expected to register a 4.0% CAGR between 2023 and 2033
The demand for Commercial air fryer oven in Europe is expected to grow at a 5.3% CAGR between 2023 and 2033
Air fryers being safer than deep fryers also then cut down on deep-fried foods reduces disease risk, versatility of equipment, faster than oven cooking, reheating of foods with ease, ease of clean the equipment are few drivers of the market

Key Players

The buildup and strengthening distribution channel in the key companies, invocative product launches by the key player are few key strategies by key players in the market Cuisinart, Calphalon, Kalorik, Black & Decker, Havells, Brava Home, Ninja Kitchen, Hamilton Beach Brands, COSORI, Breville, Philips, Gowise, Inalsa, KENT are expected to be the top players driving the market growth.

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Commercial Air Fryer Oven Market by Category

By Type:

Manual
Digital

By Wattage:

Below 1200 Watt
1200-1500 Watt
1500-1800 Watt
1800-2200 Wattage
2200 Wattage & Above

By Capacity:

Less than 4 Quarts
4 – 5 Quarts
5 – 6 Quarts
6 – 8 Quarts
More than 8 Quarts

By Region:

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