Market Research Blog – Page 3146 – New Product Development

Sequins Apparel Market Set for Steady Rise with a CAGR of ~6% by 2031

Sequins Shine On: Market Poised for Steady Growth Fueled by Fashion Trends and Millennial Appeal

The sequins apparels market is predicted to sparkle its way to a bright future, with a projected Compound Annual Growth Rate (CAGR) of around 6% during the forecast period. Several key trends are fueling this growth:

Millennial Magnetism: Millennials, heavily influenced by the luxury lifestyle portrayed on social media and in pop culture, are increasingly drawn to the glamour and eye-catching nature of sequin clothing.

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Fashion Forward: The ever-evolving fashion landscape is embracing sequins with open arms. From dazzling dresses to statement accessories, sequins are finding their way into a wider range of styles and designs.
Retail Revolution: The changing retail landscape, with a growing focus on online shopping and influencer marketing, is creating a favorable environment for the promotion and sales of sequin clothing.

These factors combined are expected to drive a steady rise in the demand for sequin clothing, making it a market segment worth watching.

But the allure of sequins goes beyond these trends. Here’s a deeper look at what’s fueling the demand:

Celebrity Influence: Fans of their favorite stars, whether from TV shows, movies, or social media, are inspired by the glamorous looks they see, driving the desire for sequin clothing.
Occasions to Shine: Sequins aren’t just for the red carpet anymore. Weddings, group photoshoots, modeling events, and concerts all present prime opportunities for donning sequined attire.
Variety is Key: Sequins aren’t limited to dresses! The market offers a dazzling array of options for both men and women, from shirts and hoodies to blazers and skirts, gowns, and even jeans. Kids can also join the sparkle party with sequin t-shirts and frocks.

The Digital Sequins Revolution:

The online world has become a playground for sequins:

Online Shopping Boom: The easy accessibility of sequin clothing through online retailers allows customers to shop from the comfort of their homes, fueling market growth.
E-commerce Education: Increased exposure to online shopping and fashion websites has heightened consumer awareness of the latest trends, including sequins.
Social Media Spark: Platforms like Instagram, Facebook, and Snapchat allow users to follow celebrities and influencers, further igniting the desire to wear sequin clothing and showcase their style.

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The Final Flourish:

Theme parties are another factor propelling the sequins market forward. Whether it’s a wedding, a Christmas bash, a birthday celebration, or a Halloween costume extravaganza, sequins add a touch of playful glamour to any event.

Get ready to see even more sequins shimmering in the years to come! The market is poised for continued growth, fueled by a combination of fashion, fandom, and the ever-expanding online world.

Some of the leading manufacturers and suppliers of sequins cloths include

Jovani,
ROSA NOVIAS,
Calvin Klein.
Adrianna Papell,
New Occasion Brands LLC.,
YOOX NET-A-PORTER GROUP,
La Femme Fashion,
NOA NOA,
alexevenings.,
PRONOVIAS GROUP.,
Rent the Runway.,
French Connection Group PLC,
Korea SMEs and Startups Agency, and Familiar, Ltd.
among others.

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Key Segments

By End Use:

Kids
Men
Women

By Application:

Daily Use
Wedding
Parties
Others

By Distribution Channels:

Direct Sales
Hypermarkets/ Supermarkets
Specialty Stores
Online retailing
Others

By Region:

North America
- US & Canada
Latin America
- Brazil, Mexico, Others
Western Europe
- EU5
- Nordics
- Benelux
Eastern Europe
Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
Japan
Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa

Author

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

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 ~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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Plant Based Beverage Market to Advance at a 5.92% CAGR by 2034, attaining a valuation of US$ 665.8 billion- FMI Report

The plant based beverage market is registered to be valued at US$ 374.6 billion by 2024. The market valuation is expected to be US$ 665.8 billion by 2034, projected at a CAGR of 5.92%.

The expansion and the rise in lactose intolerance rates leads the global market for plant based beverages to grow and is subsequently expected to give maximum growth in the near future.

Such goods are mostly preferred by customers looking for low-fat and low-cholesterol solutions. Plant-based drinks are definitely considered to have a healthy choice that are easily available and provide the customers with essential vitamins and minerals.

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The usage of cruelty-free products has risen as a result of growth in awareness of animal suffering and numerous awareness led by various campaigns that have been held worldwide.

The market for plant based beverages is on the verge of expansion due to a number of additional factors, inclusively holding increase in levels of disposable income and rapid urbanization. This is the healthiest dairy product substitute currently on the market.

Plant-based milk products are however anticipated to grow substantially over the next several years. Drinks made from plants have lesser carbon footprints promoting them to be a sustainable choice and are widely supported.

Key Takeaways from the Market Study

Under source type, plant-based juices is accounted to hold a market share of 67.8% in 2024.
Germany is estimated to register at a CAGR of 6.3% by 2034.
Japan experiences significant growth, projected at a CAGR of 4.4% by 2034.
Based on the nature, the conventional segment is accounted to hold a market share of 92.1% in 2024.

“The surge in demand for vegan diets and people suffering from intolerance to lactose are the primary drivers for the plant based beverage market,” -says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)

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Competitive Landscape

Major market players like Bayer AG, Abbott, Nestlé SA compete with up-and-coming companies and start-ups for market supremacy in the fiercely competitive plant based beverage sector.

Regulated by a wide range of plant-based beverage options, making investments in product innovation, and growing their distribution networks, these businesses compete fiercely with one another. The dairy business is seeing increased competition due to the growing demand from consumers for more sustainable and healthful options.

Some of the key developments are:

In July 2020, Starbucks Canada broadened its non-dairy selection by introducing the oat beverages, which cater to the rise in demand for plant-based options. This move was anticipated to drive the sales of plant based beverages.
In January 2020, Nestlé expanded its presence in the Thai beverage market as it had launched a soy-based version of its popular chocolate malt beverage, Milo, quarrying into the growing trend of plant-based alternatives.

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More Valuable Insights Available

Future Market Insights offers an unbiased global plant based beverage market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand market opportunities, the plant based beverage market is segmented based on Source (Coconut, Soy, Almond, Rice, Oats, Hemp, Others), Nature (Organic, Conventional), Format (Regular, Flavoured), Packaging (Glass Bottles, Plastic Bottles and Pouches, Carton, Cans), Sales Channel (Hypermarkets/Supermarkets, Convenience Stores, Independent Small Groceries, Speciality Stores, Online Retailers), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).

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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Tortilla Market to advance at a 5.2% CAGR from 2024 to 2034, reaching a Valuation of US$ 75,309.4 million- FMI Report

The global tortilla market is anticipated to reach a valuation of US$ 23.3 million in 2024, driven by packaging innovations. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 5.2% between 2024 and 2034, and reaching a total valuation of approximately US$ 75,309.4 million by 2034.

A key factor contributing to the growth of the market is the premiumization of products. The introduction of premium and gourmet tortilla products, often made with high quality or organic ingredients, caters to consumers willing to pay a premium for enhanced taste and quality.

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The focus on health and wellness continues to drive the market, with tortillas marketed as a healthier alternative, incorporating functional ingredients like quinoa, chia seeds, or flaxseed. Beyond traditional flatbreads, the market has seen the introduction of diverse tortilla formats, including tortilla bowls, mini tortillas, and specialty shapes, expanding usage possibilities in various cuisines.

Collaborations between tortilla manufacturers and other food industry players, such as restaurants or fast food chains, present opportunities for market expansion and brand visibility. The use of digital marketing and social media platforms to promote tortilla products and engage with consumers can be a significant driver for brand awareness and market growth.

Offering customizable options for tortilla products, such as different sizes, thicknesses, and flavors, allows manufacturers to cater to diverse consumer preferences and demands for personalized experiences. The incorporation of functional ingredients with health benefits, such as probiotics, fiber, and vitamins, into tortilla formulations can attract health conscious consumers seeking nutritious food options.

Consumers are increasingly seeking products with transparent and clean labels, free from artificial additives and preservatives. Tortilla manufacturers focusing on clean label formulations may gain a competitive edge. The fusion of tortilla based dishes with flavors from other cuisines, such as Asian or Mediterranean, can create unique and innovative products that appeal to a broader consumer base.

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Key Takeaways from the Market Study

Global tortilla market is to be valued at US$ 45,163.7 million in 2024.
From 2019 to 2023, the market demand expanded at a CAGR of 5.0%.
The market in Germany is expected to expand at a CAGR of 6.2% through 2034.
By product type, the corn tortilla segment to account for a market share of 41.2% in 2024.
From 2024 to 2034, tortilla market is expected to flourish at a CAGR of 5.2%.
By 2034, the market value of tortilla is expected to reach US$ 75,309.4 million.

“Integration of smart packaging technologies, such as QR codes for traceability or freshness indicators, can enhance the consumer experience and address concerns related to product quality,” -says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)

Competitive Landscape

Prominent players in the tortilla market are Grupo Bimbo SAB de CV, General Mills, Aranda’s Tortilla Company Inc., Ole Mexican Foods Inc, Easy Foods Inc., Gruma SAB de CV, PepsiCo Inc., La Tortilla Factory, Catallia Mexican Foods, Tyson Foods Inc., and Azteca Foods Inc., among others.

Company Portfolio

Gruma SAB de CV is a global player and one of the largest tortilla manufacturers. Its brand, Mission Foods, is well known for offering a wide range of tortilla products, including corn and flour tortillas, tortilla chips, wraps, and taco shells. The extensive distribution network of the company contributes to its global presence.
Grupo Bimbo, a major player in the baking industry, has a significant presence in the tortilla market. The company offers a variety of tortilla products under different brands, including Bimbo and Tia Rosa, catering to diverse consumer preferences.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global tortilla market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the tortilla market, the market is segmented on the basis of product type (tostadas, taco shells, corn tortilla, flour tortilla, tortilla chips), source (corn, wheat), processing type (fresh, frozen), and distribution channel (online, offline), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).

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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Electric Bike Market Expected to Surge with 10.2% CAGR, Reaching US$ 150.01 Billion by 2033

The Electric Bike Market is anticipated to thrive at a steady CAGR of 10.2% between 2023 and 2033. The market is expected to have a market share of US$ 150.01 Billion by 2033, while it is likely to be valued at US$ 56.79 Billion in 2023.

The revolution of e-bikes, e-cycles, and electric cars is around the corner and is experienced not only in first-world countries but also the emerging economies. The recent addition of E-bikes run on electric batteries.
Higher sales of e-bikes are due to the no-fuel prices, minimum carbon emissions, and government subsidies. Alongside this, citizens are also adopting environmentally friendly ways of transportation.
New e-bike launches with high mileage, improved power, advanced transmission, and better design are also gaining traction in the market. The battery performance and acceleration being the center of the deal, companies are now using high-power batteries in the bike.
Local governments around the world, especially in population-dense countries in the east like China and India, are introducing community e-bike programs. These programs charge the minimum while delivering the maximum benefits.
The growing electric vehicle infrastructure is also flourishing with the expansion of charging spots and stations around the world. These stations also offer service, repair, and replacement of the electric bike.

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Key Points:

The United States market leads the North American electric bike market in terms of market share in North America. The United States held a market share of 22.1% in 2022. The factors are attributed to leading two-wheel vehicle brands, government support for sustainable industries, and aware citizens.
The German electric bike market held a market share of 6.9% in 2022. The market growth is caused by Germany being the automotive hub and extended research and development facilities. These facilities are advancing the battery performance while the German government target to limit the carbon footprint by the end of the forecast period.
The Indian market thrives at a steady CAGR of 10.0% between 2023 and 2033. The government focuses on the energy transition from fossil and petroleum sources to alternative sources like electric and solar, garnering regional performance in the global market.
Market in China is also expected to thrive at a CAGR of 10.5% during the forecast period 2023 to 2033.
Based on product type, the pedelecs segment leads the market as it held a market share of 47.3% in 2022. Its health benefits, lower power consumption, and regenerative braking options are expected to help the segment keep its lead during the forecast period.
Based on battery type, the lead-based battery segment strives as it accumulated a revenue share of 85.7% in the global market in 2022.

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Competitive Landscape:

The key vendors focus on durability, high battery life, and improved performance. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Top Players are:

ECCITY Motorcycles
Hero Electric Vehicles Private Limited
Gogoro Inc.
GOVECS GmbH
Vmoto Limited
Honda Motor Co. Ltd.
Piaggio & C. SpA
Terra Motors Corp.
Bayerische Motoren Werke AG
Jiangsu Xinri E-Vehicle Co. Ltd.
Giant Manufacturing Co Ltd.
Emotion Bikes USA
Pedego Electric Bikes
Volt
Energica Motor Company S.p.A.
Zero Motorcycles, Inc.
Mahindra Genze
Derby Cycle
Accell Group.

Recent Market Developments in this Market:

Pedego Electric Bikes has introduced several e-bikes, including Avenue – Electric Commuter Bike, City Commuter: Lite Edition, City Commuter Mid Drive Edition, and City Commuter: Platinum Edition.
Vespa has introduced the electric mobility vehicle named Elettrica with integrated smart technology and a TFT dashboard.

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Key Segmentation:

By Product type:

Electric Scooter
Electric Motorcycles
Pedelec

By Battery type:

Li-Ion
NiMH
Lead-based

By Technology:

Plug-In
Battery

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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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Automotive Pillar Market to Reach US$ 10,690.3 Million by 2033 with Moderate 4.3% CAGR

The worldwide automotive pillar market is anticipated to amass a revenue of US$ 10,690.3 million by 2033 as opposed to US$ 7,016.9 million in 2023. The market is set to experience a moderate CAGR of 4.3% from 2023 to 2033.

An integral part of a vehicle’s body structure, automotive pillars are used to provide support to the vehicle’s body and roof. Owing to the critical function of automotive pillars, market manufacturers are concentrating on utilizing robust materials for the production of these pillars. It is projected that the global automotive pillar market will generate an absolute dollar opportunity of US$ 3,673.38 million during the forecast period of 2023 and 2033; driven by a heightened demand for passenger cars and the growing awareness of vehicle safety features

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Additionally, stringent passenger safety regulations and growing concerns for safety are also driving the growth of the automotive pillar market. The market is also experiencing immense growth potential due to the rising demand for high-end luxury vehicles, as well as the incorporation of advanced technology in automotive design, leading to an increased demand for automotive pillars.

Increasing use of lightweight technologies in the production of luxury, passenger, and commercial vehicles due to their environment-friendly properties will have a positive impact on the automotive pillar market. Manufacturers are, thus, enhancing their products by increasing their load-carrying capacity while simultaneously reducing their weight by using plastic composites in the manufacturing process. This results in automotive pillars that are both lightweight and capable of bearing heavy loads. Hence, a surging preference for lightweight products is anticipated to fuel the growth of the automotive pillar market.

Increased awareness and apprehension about CO2 emissions are projected to drive the demand for composite materials in the production of automotive pillars. Governments across the globe are implementing strict regulations on reducing CO2 emissions from automobiles which also led to a surge in demand for lightweight vehicles, resulting in a simultaneous increase in demand for composite materials. These factors are key drivers of growth in the automotive pillar market. However, increasing levels of global air pollution may still hinder the rising demand for the automobile pillar market.

Key Takeaways:

By vehicle type, the passenger car segment will account for over 3/4th of the demand for the automotive pillars in the international marketplace.
Based on product type, the pillar A category will dominate the global market with a 47.4% share of the market.
Strict automobile safety regulations will propel the automotive pillars market in the US.
India’s automotive pillar market will be driven by a surge in favorable government initiatives.

Competitive Landscape

In a competitive market, significant participants are focusing on increasing investment in research and development efforts to produce novel automotive pillars. These businesses also concentrate on product development and upgrades while also employing strategies to expand their product portfolio. In a recent development, in December 2022, Panasonic Automotive held demonstrations of Systems of Systems (CPSoS) for the automotive pillar.

Gestamp, Trinseo SA, G-Tekt Corporation, Shiloh Industries, Sewon, and Toyoda Iron Works Co. Ltd., among others, are a few of the key players in the automotive pillar market profiled in the full version of the report.

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Automotive Pillar Market Outlook by Category

By Product Type:

Pillar A
Pillar B
Pillar C
Pillar D

By Vehicle Type:

Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle

By Sales Channel:

Original Equipment Manufacturer
Aftermarkets

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

Author

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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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Nandini Singh Sawlani

Rolling Ahead: Automotive Tire Market Poised for 6.6% CAGR Growth to Reach US$ 958.8 Billion by 2033

The automotive tire market is expected to grow at a CAGR of 6.6% from 2023 to 2033. The market is valued at US$ 503.9 Billion as of 2023, and by 2033, the market is expected to hit a valuation of US$ 958.8 Billion.

The stringent safety norms pertaining to road are expected to surge the sales of automotive tires during the forecast period. A sharp increase in the number of accident cases owing to bad quality tires has motivated the investors to spend huge amounts behind the development of top-notch tires.

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Rise in the disposable income, coupled with rapid urbanisation is also expected to surge the demand for automotive tires during the forecast period. Apart from that, low production cost and lenient emission rules in certain parts of the world is also expected to have a positive outlook on the market.

Moreover, the current generation automotive tires have been designed on the grounds of latest technology. This has led to the development of properly mounted, correctly inflated, and balanced automotive tires. This is expected to have a positive effect on the automotive tires market key trends and opportunities.

Furthermore, an increase in the sales of passenger cars is also expected to bring about optimism in the market. The SUVs in general are having a strong penchant in Asia Pacific, particularly in India and China. Even the technological advancements are expected to surge the market share of automotive tires. Owing to this, the manufacturers have developed green tires which are gaining traction especially amongst the youngsters.

Thus, from the insights provided by FMI researchers, it can be inferred that “increasing focus on safety norms, technological innovation in the automobile sector and a number of other factors are expected to surge the automotive tires market share during the forecast period.”

Key Takeaways:

The automotive tires market is expected to grow at a CAGR of 6.6% during the forecast period.
As of 2023, the market is valued at US$ 503.9 Bn.
By 2033, the market is expected to reach a valuation of US$ 958.8 Bn.
Based on the regional analysis, Asia Pacific is expected to be the largest market during the forecast period.
The USA automotive tires market is projected to grow at a CAGR of 6.7%.
The Brazil market is projected to grow at a CAGR of 4.6%.
The Argentina market is projected to grow at a CAGR of 5.7%.
The India market is projected to grow at a CAGR of 7.4%.
The China automotive tires market is projected to grow at a CAGR of 7.3%.
On the basis of vehicle type, the commercial vehicles segment is expected to hold the largest market share, growing at a CAGR of 6.4% during the forecast period.
On the basis of sales channel, the aftermarket segment is expected to have the highest market share, growing at a CAGR of 6.6% during the forecast period.
On the basis of tire structure type, the radial automotive tires are expected to hold the largest market share during the forecast period, exceeding US$ 550.2 Bn by 2031.

Competitive Landscape

The key players operating in the market are focusing on the mergers and acquisitions. The companies are merging with one another mainly to access the technologies available with both parties. Apart from that, the market expansion strategy also happens to be one of the key reasons. The key players are also collaborating with the manufacturers from the electric vehicles niche as the market of electric vehicles has a lot of scope going ahead.

The Major Manufacturers of Automotive Tires Market Are:

Continental AG
Bridgestone
Michelin
Goodyear tire and rubber company
Pirelli

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Automotive Tires Market Segmentation

By Vehicle Type:

2/3 Wheeler (<18”, >=18”),
Passenger Vehicle (<=15”, 16”-19”, >=20”),
Commercial Vehicle,
Light Commercial Vehicle (<=15”, 16”-19”, >=20”),
Heavy Commercial Vehicle (<=20”, 21”-24”, >=24”),
Specialty Vehicle

By Tire Structure:

Radial (Tube, Tubeless),
Bias

By Sales Channel:

OEM
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
MEA

Author

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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.

Contact Us:

Nandini Singh Sawlani

Infant Formula Market Poised to Surge at a CAGR of 8.7% Through 2034 Amid Increasing Adoption of Infant Formula as a Substitute for Breast Milk

According to Future Market Insights (FMI), the global infant formula market is projected to witness substantial growth, increasing from US$ 50,126 million in 2024 to US$ 1,15,326 million by 2034. The market is expected to surge at a CAGR of 8.7% during the forecast period.

The infant formula market is growing due to factors such as rising working mother population, increased baby health spending, and surging demand for organic baby food. The growing middle-class population in emerging and developing countries is transforming the infant formula market by requiring products that cater to working moms’ schedules.

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A key factor in expanding the infant formula industry is increasing parental awareness of infant formula’s potential benefits for babies’ growth and development. Parents are more actively looking for healthier and alternative natural ingredients in infant formula, such as organic origin and clean-label ingredients.

Infant formulas are nowadays fortified or added with different vitamins, minerals, probiotics, and other essential nutrients to support the overall development of infant vital organs, fueling market growth. Infant formulas come in several forms, like powdered, ready-to-use, and concentrated liquids, allowing users to select the appropriate formula based on their budget.

Key Takeaways from the Report:

The global infant formula market is expected to reach a valuation of US$ 1,15,326 million by 2034.
The global market is expected to surge at a CAGR of 8.7% over the forecast period.
The United States is set to rise at a CAGR of 6.7% during the forecast period.
India is estimated to grow at a CAGR of 7.1% during the forecast period.
Starting milk formula is the most popular product type, contributing to a market share of 48.0% in 2024.

“The infant formula market is undergoing rapid growth globally, driven by increasing consumer awareness and responsiveness of its potential health benefits and demand for natural & healthier products for adequate physical and mental growth. However, challenges such as stringent regulatory compliances, high manufacturing costs, less awareness, especially in rural areas, and limited availability are set to impact its widespread adoption.” – -says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)

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Competitive Landscape

Nestle, Abbot Nutrition, Danone, Synutra International Inc., Mead Johnson Nutrition, and others are a few leading players in the market. With research and development of new products, manufacturers are diversifying their product portfolio, such as the use of innovative ingredients with multiple claims to attract consumers.

Manufacturers are directing toward partnerships, mergers, acquisitions, and collaborations with companies or organizations. Innovation and development in processes and products attract new investors, further leading to market growth.

Product Launches and Key Developments

In 2023, Danone Early Life Nutrition introduced a new infant formula containing milk droplets that closely mimic the structure found in mother’s milk in China.
In 2023, Gerber, a subsidiary of Nestle and the frontrunner in early childhood nutrition, received clean-label certifications from a renowned non-profit clean-label project.
In 2023, Bobbie, a maker of clean-label infant formula, acquired Nature’s One, an Ohio-based pediatric nutrition company.

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Future Market Insights (FMI) has released an objective assessment of the global market, presenting past demand data from 2019 to 2023 and projecting forecast statistics for the 2024 to 2034 period.

Infant Formula Market Segmentation by Category

By Product Type:

Starting Milk
Follow-on-milk
Toddler Milk
Special Milk

By Ingredient Type:

Whey Protein Concentrate
Soy Protein Concentrate
Protein Hydrolysate

By Product Form:

Powder
Liquid
Ready-to-feed

By Distribution Channels:

Store-based Retail
- Supermarket/Hypermarket
- Specialty Store
- Pharmacies
Online Retail

By Region:

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

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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Nandini Singh Sawlani

Electric Light Commercial Vehicle Market Soars to US$ 271.9 Billion by 2023 with 12% CAGR

The electric light commercial vehicle market was valued at around US$ 173 billion in 2019. In the following five years, sales of electric light commercial vehicles surged at a 12% CAGR and reached US$ 271.9 billion by 2023.

The demand for electric light commercial vehicles is expected to be valued at 303.2 billion in 2024. The market is forecasted to rise at a CAGR of 9.5% from 2024 to 2034. The electric light commercial vehicle industry is expected to reach US$ 750 billion by 2034 end.

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The adoption of electric cars in urban and metropolitan cities is increasing rapidly with rising concerns about pollution and outdoor air quality. EV manufacturers have increased the production of electric light commercial vehicles and are promoting them as ways to create cleaner, healthier communities.

Lower running costs and lower carbon footprint have made electric commercial vehicles suitable for logistics services and door-to-door delivery businesses. Growing awareness among city dwellers about the environment and climate change has also increased the popularity of eLCVs as shuttle vans or urban transport vehicles.

“International organizations as well as national governments are putting strict emission laws to solve environmental issues. Electric light commercial vans are finding wider acceptance in the market due to their ability to satisfy and even surpass the laws for zero exhaust emissions,” – Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

Key Takeaways from the Electric Light Commercial Vehicle Market Study Report

The United States market is expected to increase at a rate of 9.8% through 2034 and reach a total valuation of US$ 135.1 billion by 2034.
The demand for electric light commercial vehicles in the United Kingdom is projected to grow at a promising rate of 10.7% from 2024 to 2034.
China is the leading manufacturer of EVs in Asia, including electric light commercial vehicles, and is expected to advance at a CAGR of 9.9% through 2034.
Japan and South Korea are two other remarkably growing markets in Asia.

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Competitive Landscape

Chevrolet, Ford Motors, and Fuso are some of the leading manufacturers of commercial vehicles that also hold a substantial market share for electric LCVs. The growing awareness and investments for accelerating the integration of green delivery vans are anticipated to encourage the emergence of new market players in the coming days. Key players are focusing on novel technologies to enhance their profit and presence in the market.

Key Players Profiled in the Electric Light Commercial Vehicle Market Report

Bollinger
Chevrolet
Ford Motor Company
Fuso
General Motors Inc.

Key Market Segmentation

By Vehicle Type:

Light-duty Trucks
Vans
Pickup Trucks
Other Vehicle Types

By Propulsion Type:

Battery Electric Vehicle (BEV)
Fuel Cell Electric Vehicle (FCEV)
Hybrid Electric Vehicle (HEV)
Plug-in Hybrid Electric Vehicle (PHEV)

By Gross Vehicle Weight (GVW):

Below 6,000 lbs
6,000 lbs to 10,000 lbs
10,000 lbs to 14,000 lbs

By Application:

Commercial
Industrial

By Region:

North America
Latin America
Europe
East Asia
South Asia and Pacific
Middle East and Africa (MEA)

Author

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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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Automotive Wiper Blades Market to Reach US$ 8,788.3 Million by 2033 with 5.9% CAGR

The automotive wiper blades market share is projected to be valued at US$ 4,953.9 million in 2023 and is expected to rise to US$ 8,788.3 million by 2033. The sales of automotive wiper blades are expected to register a significant CAGR of 5.9% during the forecast period.

Automotive wiper blades are crucial in ensuring clear visibility for drivers, especially during adverse weather conditions. These essential components are designed to remove rain, snow, dirt, and debris from the windshield, enhancing safety and driving comfort. The automotive wiper blades industry encompasses the production, distribution, and sales of wiper blades for various vehicles, including passenger cars, commercial vehicles, and motorcycles.

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The market has experienced steady growth over the years, primarily driven by the increasing global vehicle production and the growing demand for passenger cars. As more vehicles are manufactured and sold, there is a parallel need for replacement wiper blades, leading to a surge in the market’s demand. Additionally, regulations regarding road safety and visibility standards have also contributed to the market’s growth as vehicle manufacturers strive to comply with these requirements.

Another significant trend in the market is the increasing adoption of advanced features, such as rain-sensing wipers and heated wiper blades. Rain-sensing wipers automatically activate when raindrops are detected on the windshield, enhancing convenience for the driver. Heated wiper blades help prevent ice and snow buildup on the blades, ensuring efficient and uninterrupted wiping even in extreme weather conditions. These advanced features have gained popularity among vehicle owners, contributing to the market’s growth.

Beam wiper blades are the top-selling product type in the global market. Their sales are expected to record a CAGR of 6.7% during the forecast period. Drivers prefer beam wiper blades due to their curved shape, infinite pressure points, streamlined design, reduced size, and compatibility with various vehicle types.

The market for rear wiper blades is expanding rapidly, with a projected CAGR of 7.0%. This growth is driven by the increasing production of vehicles equipped with rear wipers. Safety concerns and the inclusion of rear wipers as standard features in hatchbacks and small SUVs contribute to the demand for rear wiper blades.

Passenger cars generate the majority of global market demand. The passenger cars segment is expected to reach a valuation of over US$ 2.7 billion by 2033. Rising production and sales of passenger vehicles, particularly compact cars, drive the demand for wiper blades.

The United States is an attractive market for automotive wiper blades in North America. It held around 17.9% of the market share in 2022. The growth in the United States market is fueled by increased vehicle production, technological advancements in wiper systems, and the popularity of SUVs.

China’s automotive wiper blades market is projected to thrive at a CAGR of 6.1%, creating incremental opportunities of US$ 1.1 billion by 2033. The booming automotive industry, the availability of affordable wiper blades, and numerous automotive parts manufacturers drive market growth.

Germany’s automotive wiper blades market is expected to register a moderate CAGR of 5.4%. Germany’s strong motor industry, engineering skills, and reputation for innovation in wiper systems drive market growth.

Key Companies Profiled In Automotive Wiper Blades Market

Denso Corporation

Valeo SA
TRICO Products Corp.
Robert Bosch GmbH
Continental AG
HEYNER GmbH
Doga SA
ITW
Hella KGaA Hueck & Co.
Tokai Riki Co. Ltd.
Xiong Shun Automobile Material Co. Ltd.
Pilot Automotive
Fu-Gang Co. Ltd.
PSV Wipers Limited
ACDelco
Cap Co. Ltd. (CAPCO)
WEXCO Industries Inc.
Tex Automotive Ltd
Syndicate Wiper Systems (P) Ltd.
Michelin Group
Korea Wiper Blade
KB Wiper Systems

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Recent Development

Nippon Wiper Blade and Asahi Manufacturing Co. Ltd, both subsidiaries of DENSO Corporation, merged in July 2019 to form DENSO Wiper Systems, Inc. This well-known brand steps forward to provide safer and more dependable wiper systems.
Robert Bosch GmbH created a new smartphone app to look for matching wiper blades in June 2017. The app is compatible with iOS and Android smartphones. This software is available in over 15 languages and includes online and offline search capabilities.

Key Segments Covered in the Automotive Wiper Blades Industry Report

By Wiper Blades Type:

Soft Top
Hard Top

By Material:

Foam-backed Cloth
Cotton-napped Cloth
Synthetic Cloth
Perforated Cloth

By Vehicle Type:

Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle

By Sales Channel:

Hard Top
Soft Top

Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan (APEJ)
Japan
The Middle East & Africa (MEA)

Author

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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.

Contact Us:

Nandini Singh Sawlani

Capitalizing on Health Trends: Investing in the Growing Fruit Concentrate Puree Market Projected to Reach US$ 3.88 Billion by 2034 with 7.2% CAGR | FMI

The fruit concentrate puree market is evaluated to be sized at US$ 1,932.0 million in 2024. During the period from 2024 to 2034, the market is expected to progress at a healthy clip, registering a CAGR of 7.2%. By 2034, the fruit concentrate puree market is anticipated to have reached a value of US$ 3,882.2 million.

Fruit Concentrate Puree Market Research Report

Fruit concentrate puree demand is getting propelled by fitness-conscious younger generations enamored of fruit-based drinks.
With dieticians recommending more inclusion of fruit into diets, the demand for fruit concentrate puree is soaring.
Frozen fruit purees are rising in popularity and the increase in their demand is benefitting the market.
Rise in standards of living is seeing consumers pay more attention to their health, which is invigorating the fruit concentrate puree market.
Growing use of fruit concentrate purees in snacks of various kinds, including bakery foods and desserts, is increasing the demand for the product.

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Key Takeaways from the Report:

An unyielding competition between local manufacturers and global players has lowered the momentum for international trade of fruit concentrate purée. To rev up the native production of fruit concentrate purée, countries are fortifying their importation laws, levying additional duty on imports of purée concentrates.
While strong import barriers & uptight antidumping laws are diminishing the global supply for fruit concentrate purée, the global economic meltdown is also impeding the demand for such products.
Undulating import-export and trade policies are inducing instability in the overall growth of global fruit concentrate purée market.
The demand-supply gap in the global market for fruit concentrate purée is further aggravated when harsh environmental conditions end up ruining the produce of fruit plantations across the globe.

The increased production of non-GMO fruit farms, according to the report, may cause the widening demand-supply imbalance in the worldwide fruit concentrate purée market to narrow. The manufacture of infant foods with purée concentrates and their longer shelf lives is expected to increase in the coming years, which will likely boost demand for fruit concentrate purée on a global scale.

The market for fruit concentrate purée is anticipated to grow at the quickest rate in Latin America, both in terms of volume and value. Fruit concentrate purée sales in Latin America would grow rapidly at over 11% CAGR, while North America and Western Europe would command more than 50% of global sales. It is anticipated that the market for fruit concentrate purée would grow successfully in Latin America, as well as considerably in Eastern Europe, the Middle East, and Africa, as well as Asia-Pacific (APEJ), except Japan.

Agrana Juice GmbH and Doehler GmbH will remain two key companies dominating the competitive landscape of global fruit concentrate purée market. These companies are actively contributing in global production of purée concentrates from all fruit families; citrus, berry, orchard as well as exotic.

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Companies such as Tree Top Inc., and Watt’s SA are specialising in production of exotic and orchard fruit concentrate purée, while the global market is also witnessing considerable participation from companies such as China Huiyuan Juice Group Ltd., Cobell Ltd., Fénix S.A., Grünewald Fruchtsaft GmbH, Kerr Concentrates Inc., and Tianjin Kunyu International Co. Ltd.

Segmentation in Fruit concentrate puree market

Fruit type:

Cherry
Banana
Apple
Mango
Blackcurrant
Passion fruit
Strawberry
Guava
Blueberry
Cranberry
Others

Product type:

With Sugar
Sugar-free

Application:

Beverage
Baby Food
Bakery products
Sauces & Dressings
Desserts & Dairy
Others

Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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.

Contact Us:

Nandini Singh Sawlani