Market Research Blog – Page 3194 – New Product Development

Digital Travel Market Forecasted to Reach Remarkable US$ 1,618 Billion by 2032 | FMI

The digital travel market reached a valuation of US$ 400 Billion in 2022 and is anticipated to reach US$ 1,618 Billion in 2032, at a 15% CAGR.

With a plethora of innovative, customer-friendly initiatives, the digital travel industry is thriving globally and solidifying its position in the fiercely competitive travel and hospitality sector. Sales of digital travel have skyrocketed in recent years. Analysts predict that in the upcoming years, sales of digital travel will approach a few billion dollars. An increasing number of tourists are choosing the digital route to get to their desired trip locations.

Some new avenues have been made available to travelers who are itching to explore the unknown by the digital revolution. Both travelers and hotel owners now have more influence because to online travel platforms. Among the key elements influencing the expansion are a wealth of data and the opportunity to comprehend the competitors.

The emergence of the Android market and a massive boost in the number of mobile-friendly consumers are some of the major factors that are significantly changing the demography of the tourism and travel industry around the world.

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The modern breed of travelers is clinging to their mobiles for all travel-related activities. Whether it is flight booking or hotel booking travelers are relying on digital platforms rather than the conventional mediums of traveling. The online platforms or digital travel space is filled with the latest offers and packages to lure maximum travelers.

To avail of some extremely happening offers customers are queuing in on digital travel platforms. The digital travel canvas is populated with several in-depth reviews and blogs on travel destinations and facilities that are extremely helpful for tourists. Apart from this social media platforms also play an important role for travellers. A traveler’s group on social media or a Facebook page of a luxury hotel can feed in some key information to budding travelers.

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The market is flooded with several tourism and hospitality friendly apps that have helped redefine the service quality of the hotel and airline industry and also affected their annual revenues. Advanced cloud computing technology has simplified the entire travel experience of a tourist.

Travel companies today can preserve crucial data related to customer behaviour and can use this to offer enhanced customer experiences. Several hotel chains and tourism companies are doing every bit to ride the digital growth wave. They are using tailor-made apps, customer friendly software and a plethora of digital processes to enhance customer experience.

A glut of travel blogs, pictures and other firsthand accounts of surfers are motivating new travellers and it is changing the dimension of the travel industry. Social media platforms are bustling with travel experiences and travel deals. The sudden boom has created a pregnant market for the travel industry and popularised the concept of digital travel.

Key Trends in the Digital Travel Market

The Digital Travel Market is undergoing a transformative journey, propelled by technological advancements and shifting consumer preferences. In the wake of the digital revolution, several key trends are shaping the landscape of the travel industry.

Mobile Dominance: The ubiquity of smartphones has redefined the way travelers plan and experience their journeys. Mobile apps provide seamless booking, real-time updates, and personalized recommendations, enhancing the overall travel experience. As mobile devices continue to evolve, their influence on the digital travel market is set to grow.
Artificial Intelligence and Machine Learning: AI and ML are becoming integral to the travel sector, offering personalized recommendations, predictive analytics, and chatbots for customer support. These technologies streamline processes, improve efficiency, and enhance customer satisfaction by delivering tailored experiences based on user behavior and preferences.
Blockchain for Security and Transparency: Blockchain technology is gaining traction in the travel industry for its ability to enhance security and transparency. Smart contracts and decentralized systems can streamline processes like booking, payment, and identity verification, reducing fraud and ensuring trust between service providers and consumers.
Augmented and Virtual Reality: AR and VR technologies are revolutionizing the way travelers research and preview destinations. Virtual tours, AR-based navigation, and immersive experiences are helping users make more informed decisions, while also providing a glimpse of what to expect during their travels.

Key Players in the digital travel market:

Expedia Group, Inc.
Ebury Partners UK Ltd
Fareportal Inc.
Hostelworld.com Limited
Hurb Co S/A
HRS
MakeMyTrip Ltd.
Oracle Corporation
Priceline (Booking Holdings Inc.)
SABS Travel Technologies
Tavisca Solutions Pvt. Ltd.
Thomas Cook India Ltd.
travelomatix.com
Trip.com Group
Tripadvisor, Inc.
WEX Inc.

Key Segments:

By Tour Type:

Domestic
International

By Consumer Orientation:

Men
Women

By Tourist Type:

Independent Traveler
Tour Group
Package Traveler

By Age Group:

26-35 Years
36-45 Years
46-55 Years

By Region:

North America
Latin America
Europe
Asia Pacific
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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Tissue Towel Market Projected to Reach US$ 37 Billion by 2033: Insights and Projections

In 2023, the tissue towel market is estimated to be valued at US$ 25.78 billion, with expectations to reach US$ 37 billion by 2033. During the forecast period, the adoption of tissue towels is anticipated to progress at a CAGR of 3.6%. The tissue towel market holds a share of approximately 20%-25% within its parent market, the paper and pulp industry.

Tissue towels boast high efficiency due to their absorbent materials, designed for single-use disposal. With educational marketing and the rise of e-commerce, tissue towels are diversifying across various criteria. This growth in awareness is driving demand for enhanced products that promote better personal hygiene.

E-commerce platforms are opening up new paths of distribution for tissue products. Online retailing provides an accessible and convenient platform that enables manufacturers to target larger audiences as well as explore new markets. Personalization is on the rise, and firms are coming up with tissue towels that meet their customers’ demands. A brand can connect more firmly with its target audience through custom prints, sizes and features.

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In light of recent health concerns, there is a growing demand for tissue towels infused with antibacterial properties. Hygienic tissue towels are becoming more prominent, appealing to health-conscious consumers and commercial sectors. The market is witnessing a shift towards premium tissue towel products. Luxurious and soft-touch towels, often enriched with natural ingredients like aloe vera or eucalyptus, are becoming sought-after choices for consumers seeking comfort and indulgence.

Key Takeaways from the Tissue Towel Market Report

As per FMI, the United States is spearheading the growth across North America, accounting for nearly 77% of market share in 2023.
Sales of tissue towel are expected to surge at 3.5% CAGR across China during the forecast period.
As per FMI, the rolled tissue towels segment is poised to expand at over 3.7% CAGR over the assessment period.
The commercial sector will experience a growth rate of more than 3.3% in terms of CAGR.
During the projected period, online retailers are expected to experience significant growth, exhibiting a CAGR exceeding 3.9% in terms of distribution channels.

“The tissue towel market shows promising growth, driven by advanced manufacturing techniques, sustainability efforts, and innovative product offerings. Consumer demand for eco-friendly and high-quality tissue towels remains strong”, remarks an analyst at FMI.

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Product Portfolio:

Sofidel offers an extensive product portfolio of tissue paper solutions, including toilet paper, kitchen towels, facial tissues, and industrial rolls. Their eco-friendly approach ensures sustainable production, delivering high-quality hygiene products to meet consumer and commercial needs worldwide.
CARTIERE CARRARA specializes in premium paper products, featuring a diverse range of tissue papers, napkins, and paper towels. Their commitment to innovation and superior craftsmanship ensures clients receive top-notch hygiene and cleaning solutions for various applications.
With a strong global presence, Kimberly-Clark’s product portfolio encompasses a wide range of personal and commercial care products. From their well-known brands of Kleenex tissues and Huggies diapers to professional-grade solutions, they offer cutting-edge hygiene and sanitation solutions to enrich lives around the world.

How Key Players are Revolutionizing the Manufacturing of Tissue Towels?

Key players in the tissue towel manufacturing industry are driving a revolution through innovation and sustainability. They are investing heavily in advanced manufacturing technologies to enhance production efficiency and product quality. Robotic automation and smart manufacturing processes optimize operations, ensuring faster, cost-effective, and eco-friendly production.

Key players are focused on sustainable sourcing of raw materials, promoting circular economy practices, and reducing carbon footprints to meet consumer demands for environmentally responsible products they continuously introduce new tissue towel variants, infused with unique features like antibacterial properties and enhanced softness, to cater to evolving customer preferences and create a competitive edge in the market.

More Insights Available

Future Market Insights offers an unbiased analysis of the tissue towel market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the tissue towel market, the report is segmented on the basis of product type (rolled tissue towels, folded paper towels, napkins and luxury towels, and boxed tissue towels), end use (residential and commercial), and distribution channel (wholesalers/ distributors, hypermarkets/ supermarkets, specialty stores, independent convenience stores, online retailers and others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).

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Market Segmentation

By Product Type:

Rolled Tissue Towels
- Standard Rolls
- Center Pull Rolls
- Perforated Rolls
Folded Paper Towels
- Center-fold
- Multi-fold
Napkins and Luxury Towels
Boxed Tissue Towels

By End Use:

Residential
Commercial
- Offices
- Restaurants
- Hospitals and Healthcare
- Schools and Universities
- Hospitality
- Industrial
- Public Washrooms
- Others

By Distribution Channel:

Wholesalers/ Distributors
Hypermarkets/ Supermarkets
Specialty Stores
Independent Convenience Stores
Online Retailers
Others (Departmental Stores)

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia & Pacific
The Middle East and 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.

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Environmental Remediation Technology Market Forecast: Projected 7.8% CAGR Growth by 2033

The global environmental remediation technology market is expected to capture a valuation of US$ 116.5 billion in 2023. The global market is estimated to capture a CAGR of 7.8% between 2023 and 2033. The global market is anticipated to secure a valuation of US$ 231.8 billion by 2033.

Key Takeaways:

The environmental remediation technology market is estimated to register a CAGR of 7.8%, with a valuation of US$ 231.8 billion in 2033.
The United States is anticipated to dominate the global market by securing a share of 15.9% during the forecast period.
Germany is estimated to capture a share of 5.1% of the global market during the forecast period.
With a share of 4.0%, Japan is estimated to drive the global market by 2033.
Australia is estimated to register a share of 1.0% in the global market during the forecast period.

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How are the Manufacturers Advancing the Global Market?

Manufacturers are contributing several innovations and strategies to advance the global market. These are as follows:

Development of Advanced Remediation Technologies: Manufacturers invest huge amounts in research and development activities to create effective and efficient environmental remediation technologies. These innovations include raw materials, advanced treatment methods, and improved equipment.
Integration of Artificial Intelligence and IoT: Internet of Things sensors allow real-time monitoring of targeted remediation efforts and facilitate more precise. Artificial intelligence technology is used for employing better decision-making, prediction modeling, and data analysis.
Green and Sustainable Materials: Manufacturers focus on developing sustainable and eco-friendly remediation. These materials minimize environmental impacts and enhance the remediation process.
Mobile and Modular Solutions: Portable remediation systems allow easy deployment and adaptation to different contamination scenarios. It increases responsiveness and flexibility in addressing environmental challenges.
In-Situ Remediation Techniques: In-situ remediation technology treats contamination without removing them from the site. Manufacturers improve and expand these technologies to reduce costs and minimize site disruption.
Collaboration and Partnerships: Manufacturers are partnering with environmental agencies, research institutions, and service providers to fuel the global market. These collaborations allow us to approach environmental remediation positively.
Compliance with Regulations: Manufacturers ensure remediation technologies with environmental standards and regulations. These technologies require wide and marketable by private enterprises and government agencies.

How are Key Players Adding Value in the Global Market?

The global market is highly competitive by the number of prominent players all around the region. They are developing innovative and advanced products to attract consumers and increase sales volume. These players drive the global market through various marketing strategies, including mergers, acquisitions, partnerships, and product launches.

Recent Developments in the Global Market are:

In 2021, Clean Harbors announced to offer remediation solutions for hazardous waste management and contaminated sites. The company is leading industrial and environmental services to manage waste.
In 2021, Bechtel Corporation offer an environmental remediation sector that manages projects related to construction and engineering.

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Top Key Players in the Global Environmental Remediation Technology Market

Bristol Industries, LLC.
MWH Global, Inc.
Tarmac International, Inc.
Sequoia Environmental Remediation Inc.
Environmental Remediation Resources Pty Ltd.
Entact LLC
GEO Inc.
ERSI
Newterra Ltd.
Golder Associates Corporation
Clean Harbors, Inc.

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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Immersion Cooling Market Set to Surge, Anticipates 21.7% CAGR to US$ 2,547.9 Million by 2032

The global immersion cooling market is expected to reach a valuation of US$ 2,547.9 Million by 2032, with the demand growing at an astounding CAGR of 21.7% from 2022 to 2032. Scaling up from a value of US$ 297.8 Million in 2021, the target market is likely to reach an estimated US$ 357.3 Million in 2022. Escalation in levels of data output and data processing all over the world is projected to fuel the growth of the immersion cooling market. Strict carbon emission control regulations coupled with a demand for high density and computation requirements will bolster the growth of the target market during the forecast period.

IT infrastructures generate high levels of energy and it is immensely important to lessen or stop the heat from the components. These two factors work together to drive the demand for the immersion cooling market. Immersion cooling enhances the productivity of data centers. Thus, the rising popularity of the target market has resulted in its acquisition of about 6-8% of the global liquid cooling market.

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In the past few years, the escalating usage of social networks, streaming, and gaming has caused a rapid increase in international internet traffic. Superior connectivity is needed for an uninterrupted network, which leads to frequent use of cloud and hyperscale data centers. Due to advancing technology and the introduction of new data-generating technologies such as artificial intelligence, the internet of things, cloud computing, and machine learning, more and more data centers are opening up all over the world. Hence, the need for precise and effective cooling for these high-density storage components or data centers pushes the immersion cooling market to grow at a rapid rate.

Other factors like elevated demand for smart devices, analytics, cloud computing, and wireless networking technologies which boost the demand for IT infrastructure, also supplement the growth of the target market. Government initiatives and regulations seeking to reduce carbon emissions are also driving the demand for the immersion cooling market during the forecast period.

“High data density data centers prefer immersion cooling method to achieve maximum efficiency. This is expected to fuel the global growth of the immersion cooling market over the forecast period,” – says an FMI analyst.

Key Takeaways:

Rising blockchain technology will strengthen the market prospects.
The immersion cooling market in Europe will expand at a CAGR of 22.4%.
Germany’s immersion cooling market will grow at a CAGR of 23.4%.
The immersion cooling market in North America will register a CAGR of 20.1%.
A prominent contributor in Europe, the immersion cooling market in the U.K. will reach a value of US$ 222.7 Million in 2032.
The synthetic and mineral oil segment will create a growth opportunity of US$ 1,540.2 Million .
Fluorocarbon-based fluids are likely to expand at 22.8% of value CAGR during the forecast period.

Competitive Landscape

3M, The DOW Chemical Company, FUCHS LUBRICANTS CO., Solvay’s, Shell, Chemours, DSI Ventures, Inc., MIVOLT, Engineered Fluids, Cargill Inc., GRC Cooling, and Zhejiang Juhua Co. Ltd. among others are some of the major players in the immersion cooling market profiled in the full version of the report.

Leading market players are focusing on product development so as to meet the rising demand for cost-effective and energy-efficient immersion cooling liquids. These firms are keen on releasing new products and employing strategies like partnerships and collaborations to strengthen their market presence.

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More Insights into Immersion Cooling Market Report

In its latest report, FMI offers an unbiased analysis of the global immersion cooling market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of type (single phase immersion cooling, two-phase immersion cooling), cooling fluid (mineral oil, synthetic, fluorocarbon-based, others), application (high-performance computing, artificial intelligence, edge computing, cryptocurrency mining, others), and region.

According to the latest FMI reports, based on segmentation, the synthetic and mineral oil cooling fluid segments are likely to witness heightened demand due to their affordability, and long-term usability in immersion cooling techniques These two subsegments will generate a growth opportunity of US$ 1,540.2 Million . In terms of application, the cryptocurrency mining segment is expected to grow at a CAGR of 23.4% during the forecast period.

Based on region, the immersion cooling market in the United States, France, and the United Kingdom is anticipated to demonstrate impressive growth. The target market in the U.S. is likely to register a value CAGR of 20.3% owing to the presence of numerous data centers, and stricter government rules on carbon emissions. In 2022, the immersion cooling market in the U.K. will account for about 25.4% of the market share in Europe while France’s immersion cooling market will likely be valued at more than US$ 220.2 Million by 2032.

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.

Contact Us:

Nandini Singh Sawlani

Korea Cosmetics ODM Industry Poised for 6.40% CAGR Growth from 2024 to 2034: Projections and Insights

The demand for cosmetics Original Design Manufacturing (ODM) in Korea is projected to surge significantly throughout the country. By the end of the fiscal year 2024, sales for Cosmetics ODM are anticipated to hit a valuation of US$ 663.2 million. From 2024 to 2034, the demand for Cosmetics ODM in Korea is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.40%. By 2034, the industry valuation is forecasted to reach US$ 1,236.50 million.

Key Trends Influencing Demand for Cosmetics ODM in Korea

Rising Popularity of K-Beauty: The global fascination with Korean beauty products has driven the demand for cosmetics ODM in Korea. Consumers worldwide are drawn to the innovative formulations and unique packaging characteristic of Korean cosmetics.
Customization and Personalization: There’s a growing demand for customized cosmetic products tailored to individual preferences. Cosmetics ODM in Korea is leveraging advanced technology to offer personalized solutions, allowing consumers to create products that cater specifically to their needs.
Expansion of E-commerce Platforms: The proliferation of e-commerce platforms has significantly boosted the demand for cosmetics ODM in Korea. Online channels provide easy access to Korean beauty products, fueling demand for new and diverse offerings from ODM manufacturers.
Sustainability and Clean Beauty: Increasing awareness about environmental issues and the preference for clean beauty products have prompted cosmetics ODM in Korea to focus on sustainability. There’s a growing demand for eco-friendly packaging and formulations, driving innovation within the industry.

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Indie Brands Topping the End Use Game in the Korea Cosmetics ODM Industry

Indie Brands claims a 29.70% industry share in the Korea Cosmetics ODM Industry in 2023 due to its agility and penchant for innovation. Indie brands are emerging as leaders in the Korea Cosmetics ODM industry, dominating the end-use segment. Their innovative formulations, unique branding, and agility in responding to market trends have propelled them to the forefront. With a focus on niche markets and personalized offerings, indie brands are capturing the attention of discerning consumers seeking authenticity and creativity in their beauty products. Their success underscores the dynamic nature of the Korean cosmetics landscape.

Some of the Important Players in Korea Dealing with Cosmetics ODM

Kolmar Korea
Cosmax
Cosmecca Korea
Nowcos Co. Ltd
Intercos Group
Oracle OEM
Viaderm Limited
Herrco Cosmetics Ltd
BioTruly Group
Milliona Cosmetics

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Key Segments

By Product Type:

Skin Care
- Creams
- Lotions
- Toners
- Facial Cleansers
- Sunscreen
- Face Packs/Masks
- Others
Hair Care
- Shampoos
- Conditioners
- Hair Rinses
- Hair Dyes
- Hair Tonics
- Hair Styling Products
Makeup
- Facial Products
- Lip Products
- Eye Products
- Nail Products
- Others
Body Care
- Soaps
- Shower Gels
- Creams
- Foot Creams
- Others
Others

By Nature Type:

Natural/Organic
Synthetic

By Packaging Format:

Bottles
Compact Cases
Droppers
Folding Cartons
Jars
Pouches
Pumps and Dispensers
Roll On
Roll On Sticks
Sachets
Sticks
Tubes

By End Use:

Prestige Brands
Private Labels
Mass Brands
Indie Brands

By Region:

South Gyeongsang
North Jeolla
South Jeolla
Jeju
Rest of Korea

Author

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.

Contact Us:

Nandini Singh Sawlani

Chemical Testing Services Market Set for 5.4% CAGR Surge: Unveiling Investment Opportunities

The chemical testing services market is poised for substantial growth, with projections suggesting a steady uptick at an average compound annual growth rate (CAGR) of 5.4% from 2023 to 2033. This growth trajectory underscores the increasing demand for precise and comprehensive chemical analysis across various industries, including pharmaceuticals, food and beverages, environmental monitoring, and materials science. With technological advancements and stringent regulatory requirements, businesses increasingly turn to specialized testing services to ensure product quality, safety, and compliance with industry standards.

By 2033, the chemical testing services market is anticipated to reach a significant valuation of US$ 52.19 billion, reflecting a robust expansion from the projected value of US$ 30.84 billion in 2023. Factors such as globalization, the emergence of new contaminants and pollutants, and the need for reliable testing methodologies are expected to drive market growth further. Moreover, as industries strive to innovate and maintain competitive advantages, the demand for specialized testing services that provide accurate insights into chemical compositions and properties is expected to remain high, fueling the market’s expansion in the future.

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Key Points

The United States market leads the North American chemical testing services market in terms of market share in North America. The United States held a healthy market share of 35.9% in 2022. The factors attributed to the growth are the restoration of research facilities along with the launch of new food and beverage items. Government-based FDA approvals with higher standards and multiple-level testing are also gaining traction for the regional market during the forecast period.
The German chemical testing services market held an average market share of 8.3% in 2022. The market growth is caused by new testing methods by government and industrial authorities conducting chemical tests for purity, quality, grade, and impurity.
The Indian market thrives at a healthy CAGR of 6.4% between 2023 and 2033. The growth is attributed to higher economic activities, production of drugs, and other medical-care products.
The Chinese market strives at a CAGR of 5.9% between 2023 and 2033.
Based on testing services, the chemical composition analysis segment held the leading market share of 21.7% in 2022.
Based on end-use type, the consumer goods segment leads as it held a market share of 46.7% in 2022.

Competitive Landscape

The key suppliers focus on different types of tests, catering to different types of applications. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments

MISTRAS Group has introduced its chemical testing services, including component testing, 3D metrology, physical testing, material-based testing, quality assurance & control (QA/QC)
Nippon Kaiji Kentei Kyokai has introduced physical and chemical analysis before the approval procedures such as JIS, ISO, ASTM, and domestic laws.

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Key Players in the Chemical Testing Services Market

Intertek Group Plc
Bureau Veritas
SGS SA
TÜV NORD AG
UL LLC
SAI Global Limited
Aspirata Auditing Testing And Certification (Pty) Ltd
SCS Global Services
TÜV Rheinland Group
MISTRAS Group
AsureQuality Limited
Nippon Kaiji Kentei Kyokai

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.

Contact Us:

Nandini Singh Sawlani

ISO Container Market Projected to Reach US$ 630.97 million by 2033

The ISO container market is projected to secure a valuation of US$ 266.53 million in 2023 and is expected to rise to US$ 630.97 million by 2033. The market is anticipated to register a CAGR of 9% during the forecast period.

The growing industrialization, urbanization and population are increasing the adoption of ISO containers. The manufacturers are developing ISO containers by adopting advanced Artificial Intelligence technology. The food & beverages industry is raising the demand for ISO container to store dairy items, vegetables and meat products. Rising road, railway and marine transportation are fueling the market growth.

The demand for ISO container is rising due to their high efficiency, better storage and low costs. These containers are safe, relevant and excellent choices while transporting goods & services. Prominent manufacturers are reducing carbon footprints by developing highly standardized products that protect the environment.

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The changing consumer lifestyle, ready-to-eat food, and easy-to-carry loads are fueling market growth. In addition, the rising economies, international trade, domestic transportation, and availability of different container types propel the market size. In addition, growing investments, government initiatives and the presence of key players are booming the market opportunities.

Key Takeaways:

The ISO containermarket is expected to have a valuation of US$ 630.97 million by 2033.
With an expected CAGR of 9%, the global market may grow in size from 2023 to 2033.
The Asia Pacific ISO container marketis estimated to secure a maximum share through 2033.
The market secured a CAGR of 8.1% in the historical period between 2017 and 2022.
The petrochemicals sector is projected to dominate the global market by 2033.

Who is Winning?

The prominent players are playing a crucial role by investing huge amounts in research and development activities in the global market. As a result, these players are innovating unique and advanced products as per end-users’ requirements. Furthermore, these players focus on developing new and non-toxic products using premium raw materials.

Prominent vendors adopt several marketing strategies: collaborations, mergers, acquisitions, agreements, partnerships, and product launches. These layers continue to bring innovation and expand the market to another height in the coming period.

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Other Key Players in the Market are:

HOYER
Welfit Ody
Meeberg
Tankcon
Tankformator
Bertschi AG
Stolt-Nielsen Limited
China International Marine Containers Ltd
VIG Tanktainer GmbH
Intermodal Tank Transport
Bulkhaul Limited
Interflow TCS Ltd
Royal Den Hartogh Logistics
New Port Tank
Sinochain Logistics Co., Ltd.

Recent Developments in the ISO Container Market are:

In Jan 2022, China International Marine Containers Ltd announced its new installation of hydrogen refueling, hydrogen cylinder, and energy tank stations to reduce carbon emissions.

In Nov 2021, Royal Den Hartogh Logistics announced its merger with MUTO Group to expand its portfolio in the Korean market.

In Mar 2020, Bertschi AG partnered with a training provider company Mapon. This partnership provides several driving safety programs to their drivers.

In Feb 2019, MOL Chemicals Tanker announced the acquisition of 20% of the stake in Den Hartogh Holding to advance the portfolio in transporting chemicals through rail and marine transport.

In 2021, Stolt Tankers reduced 6% of fuel consumption by taking off 18,000 automobiles to limit carbon emissions.

Innovation Drives Demand: Metallic Stearate Market to Benefit from New Applications in Rubber and Construction

The metallic stearate industry is expected to reach US$ 630.19 million in 2023. The market is predicted to reach a value of US$ 1,066.29 million in 2033. Between 2023 and 2033, the market is expected to register a CAGR of 5.4%. Many industries use metallic stearate, including plastics, pharmaceuticals, rubber, cosmetics, and the food industry. The growth and performance of these industries are often associated with the demand for these products. A change or innovation in these sectors could influence metallic stearate demand.

Rubber has long used metallic stearate in the manufacture of rubber. Steel stearate are primarily used to prevent rubber from adhering to molds or to itself. Compounders have discovered that metal stearate have numerous physical and chemical properties that can be utilized. Leading players are also developing high-temperature-stable metallic stearate that will keep their color stability in thermoplastics despite their color or transparency. As a result of these developments, metallic stearate are expected to be used more frequently in metal processing and construction.

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Regulations regarding chemical usage and safety standards can significantly influence the demand for metallic stearate. Manufacturers may have to reformulate their products if stricter regulations are placed on certain chemicals, which will affect the choices of additives. Technological advancements may enable metallic stearate to find new applications. Nanotechnology, for instance, could use metallic stearate to manufacture advanced materials. A growing number of industries are considering environmental factors. Metallic stearate may be considered less eco-friendly, which may lead to the search for more sustainable alternatives.

Key Takeaways

Zinc stearate is expected to reach a market share of 32.8% during the forecast period.
In 2033, polymers & plastics are expected to account for 32.1% of the market.
The metallic stearate market in India is predicted to expand at 6.5% CAGR until 2033.
Metallic stearate in the United Kingdom are expected to reach a CAGR of 3.9% during the forecast period.
A 4.9% CAGR is expected in the United States market for metallic stearate.

“Increasing research and development activities and increased personal care product demand drive metallic stearate demand. A growing focus on sustainable development and investments in new technologies will drive industry growth in the near future,” says an FMI analyst.

Competitive Landscape

Several companies compete for Metallic Stearate in highly competitive industries. In recent years, niche industries targeting specific demographics have become increasingly popular. A strong partnership and innovation have contributed to the industry’s success. Recent years have seen a rapid increase in demand for Metallic Stearate in India.

Industry Developments Include

Baerlocher Group- Baerlocher produces metallic stearate around the world. Their product line includes calcium stearate, zinc stearate, and magnesium stearate, all of which are of high quality. Plastics, rubber, and construction industries all use these products.
Dover Chemical Corporation- Located in the United States, Dover Chemical manufactures metallic stearate, among other specialty chemical additives. Metallic stearate from their company are commonly used to enhance the processing and performance properties of plastics and rubber. Technical expertise and custom solutions are the hallmarks of Dover Chemical.
PMC Biogenix- PMC Biogenix specializes in producing metallic stearate and esters, as well as glycerides and glycerols. With a commitment to customer satisfaction and high-quality additives, the company is renowned for its high-quality products.

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Top Key Players in the Metallic Stearate Industry

Dover Chemical Corporation
Valtris Specialty Chemicals
Peter Greven GmbH & Co. KG
Baerlocher GmbH
Faci S.p.A
Norac Additives
Sun Ace Kakoh (Pte.) Limited
PMC Biogenix Inc.
James M. Brown Ltd.
Nimbasia Stabilizers LLP
Marathwada Chemicals
Seoul Fine Chemical Ind. Co. Ltd.
IRRH Specialty Chemicals India Limited
Akrochem Corporation

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.

Contact Us:

Nandini Singh Sawlani

Turpentine Market to Boom: Eco-Friendly Solvent Poised for US$ 2.6 Billion Valuation by 2034

The turpentine market size is anticipated to reach a valuation of US$ 1,506.98 million in 2024. The industry is likely to surpass US$ 2,598.64 million by 2034. The escalating demand for natural and sustainable raw materials across diverse sectors. The demand for turpentine is projected to expand at a CAGR of 5.60% through 2034. Turpentine, derived from pine resin, aligns with the global shift toward eco-friendly solutions, especially in the fragrance, flavor, pharmaceutical, and paint industries. Additionally, the therapeutic properties of turpentine, such as its use in traditional medicine, contribute to its rising demand in the healthcare sector.

One significant factor is the dependency on pine forests for resin extraction. Limited forest resources and the time-intensive process of resin tapping impose constraints on the overall supply. The susceptibility to environmental changes, including pests and climate variations affecting pine tree health, adds another layer of complexity.

The expanding applications of turpentine in the pharmaceutical and cosmetic sectors, driven by its antimicrobial and aromatic properties, open avenues for diversification and market expansion. A notable trend is the integration of advanced technologies in extraction processes, enhancing efficiency and reducing environmental impact.

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The rise of bio-based solvents as an eco-friendly alternative in various industries signifies a broader market shift. Furthermore, there is a discernible surge in collaborative initiatives among industry players, focusing on research and development to explore novel applications and innovative solutions.

“The growing inclination toward green and sustainable practices presents a ripe landscape for turpentine derivatives. Companies embracing eco-friendly sourcing and production methods can position themselves as leaders in the emerging market of sustainable chemicals.” Says Lead Analyst at FMI

Key Takeaways from the Turpentine Market

The turpentine industry in the United States is poised to ascend with a CAGR of 4.5% through 2034.
Germany’s turpentine industry is set to ascend with a projected CAGR of 3.3% through 2034.
China’s dynamic turpentine industry anticipates steady expansion with a CAGR of 7.4% through 2034.
India’s turpentine industry is poised for remarkable growth, projecting a CAGR of 8.7% through 2034.
Australia’s turpentine industry is slated for expansion with an estimated CAGR of 6.6% through 2034.
The gum turpentine segment is likely to hold a 44.80% market share in 2024.
The fragrance application segment is poised to hold a 30% share in 2024.

Competitive Landscape of the Turpentine Market

The turpentine market is characterized by intense competition among key players. These industry giants focus on expanding their product portfolios, investing in research and development, and forming strategic alliances. Smaller players often specialize in niche segments, catering to specific applications like adhesives, solvents, and fragrances.

In a bid to gain a competitive edge, companies are emphasizing product innovation. They explore novel extraction methods, optimize production processes, and enhance the quality of turpentine derivatives. Sustainable practices are also in the spotlight, with a focus on eco-friendly sourcing, efficient utilization of raw materials, and reduced environmental impact. Companies that align with circular economy principles and prioritize sustainability are likely to thrive. Moreover, certifications such as FSC (Forest Stewardship Council) and ISO 14001 enhance credibility and attract environmentally conscious consumers.

North America, Europe, and Asia Pacific are key consumption hubs. North America, driven by the robust construction industry and demand for bio-based products, holds a significant share. Europe, with its stringent environmental regulations, encourages sustainable practices. Meanwhile, Asia Pacific witnessed rapid growth due to rising industrialization, urbanization, and increased adoption of turpentine in paints, coatings, and personal care products.

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Recent Developments in the Turpentine Market

Naval Overseas and the Vietnamese maritime company Vinhconship Group have recently agreed to transport PT. Naval Overseas’s products to multiple locations in Asia and Europe.
Wuzhou Pine Chemicals Ltd. intended to augment its yearly turpentine production by 20,000 tons by establishing a new manufacturing facility in Guangxi Province.

Top Key Players in the Turpentine Market

PT. Naval Overseas
Wuzhou Pine Chemicals Ltd.
Punjab Rosin and Chemicals Works
Wuzhou Sun Shine Forestry & Chemicals Co.
Forestar Chemical Co., Ltd.
Deqing Yinlong Industrial Co., Ltd.
Deqing Jiyuan Synthetic Resin Co., Ltd.
Resin Chemicals Co., Ltd
CV. Indonesia Pinus
Guilin Songquan Forest Chemical Co., Ltd.
EURO-YSER.
Vinhconship Group

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.

Contact Us:

Nandini Singh Sawlani

Customisation and Personalisation in Travel Market: Harnessing a 17.8% CAGR Potential by 2032 | FMI

Customisation and Personalisation in the Travel Market

The customisation and personalisation in travel market is anticipated to a CAGR of 17.8% (2022 to 2032), reaching a value US$ 620.71 Million by 2032

New travel portals have created a virtual corridor for travellers leading them into a better and bigger arena of the travel world. A host of travel tools are now in use and many of the leading travel agents around the world are using these tools for customisation and personalisation in travel marketing.

Millennial travellers are suave and are always in search of something special during their business or leisure tours. They are smart, well researched, very clear about their priorities and needs and are eager to shell out any money to gain a comfortable travel experience. The scope and relevance of a travel marketer are massive in the modern tourism market.

The trend of customisation and personalisation in travel marketing is slowly but steadily emerging in the market. A properly planned tour with significant inputs can change the entire travel experience for a tourist. The use and accumulation of travel data has changed the face of the travel industry and given it a new dimension.

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Personalised and customised travel marketing holds the key to success for key stakeholders in the travel industry. Modern day customers are shifting towards tailor-made and customised travel packages. Emails are a passé in the evolving travel industry. Travel companies are using advanced tools to promote their offerings.

To woo a new lot of travellers companies are rehashing their travel marketing strategies by collating in-depth information about a particular traveler and sending out professional and customised emails by gauging the exact choice of the customer.

Most of the travel companies are using high-end marketing tools to segregate customer information and are then scripting personalised mails and newsletters to ignite the interest of the tourists about a specific tour package.

Social media platforms are playing a pivotal role in changing the canvas of customised and personalised travel marketing. Several travellers around the globe are using social media platforms to complete their pre-travel research.

Key Trends: Customization and Personalization in the Travel Market

In the dynamic landscape of the travel industry, the paradigm of customer preferences is shifting towards a demand for unique and personalized experiences. Customization and personalization have emerged as pivotal trends, redefining how travelers plan, book, and embark on their journeys. This evolution is driven by advancements in technology, changing consumer expectations, and a desire for more meaningful and tailored travel experiences.

Tech-Driven Personalization: Cutting-edge technologies like artificial intelligence, machine learning, and data analytics play a pivotal role in understanding and predicting traveler preferences. Travel platforms are leveraging these technologies to analyze vast datasets, enabling them to offer personalized recommendations, from destination suggestions to accommodation preferences.
Tailored Itineraries: Gone are the days of one-size-fits-all travel packages. Modern travelers seek bespoke itineraries that align with their interests, hobbies, and lifestyle. Travel agencies and platforms are responding by providing customizable packages, allowing customers to curate their experiences, whether it’s an adventure-filled excursion, a cultural immersion, or a relaxing retreat.
Hyper-Personalized Marketing: Marketing strategies in the travel industry are becoming increasingly personalized. Companies are utilizing customer data to create targeted campaigns, offering exclusive deals and promotions based on individual preferences and past behaviors. This not only enhances customer engagement but also fosters loyalty by demonstrating a deep understanding of each traveler’s unique needs.
Seamless Booking Processes: Streamlining the booking process is a key focus in the quest for personalization. User-friendly interfaces, intelligent chatbots, and mobile applications are making it easier for travelers to customize their bookings. From selecting room preferences to dietary requirements, the entire travel experience is being fine-tuned to individual specifications.

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Customisation And Personalisation In Travel Marketing: Game Changers

Factors such as emergence of millennial travellers and travel-friendly economies across the globe are acting as a key component in the development of customisation and personalisation in travel marketing.

The massive digital wave that eroded the entire travel industry has created a ground of benefits for customised and personalised travel marketing. The mushrooming of new travel destinations across the globe is also expediting the need for personalised and customised travel marketing.

Customisation And Personalisation In Travel Marketing: Restraints

A massive population of tourists across the world are still dependent on conventional ways of travelling. The pool of aged travellers is still shunning modern and customised travel marketing as they are ignorant to new technologies.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

Key Players:

Best Western
Carnival Corp.
Club Family Hotel
Delta Flights
EasyJet
KLM Royal Dutch
Princess Cruises
Virgin Hotels
IBERIA LAE SA
Expedia Group, Inc.

Key Segments Profiled in the Customisation and personalisation in Travel Market

By Service Type:

In-flight personalization
Cruise lines personalization
Adventure Travel
In-hotel personalization
Other personalization

By Mode of Booking:

OTA Platform
Offline

By Age Group:

Millennial
Generation X
Baby Boomers
Others

By Purpose:

Leisure
Business

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani