Market Research Blog – Page 3227 – New Product Development

Europe Dog Dewormers Market: Expected to Grow at a CAGR of 10.67% by 2033, Revealing Trends and Opportunities

The Europe dog dewormers market was anticipated to reach US$ 427.49 million in 2023 and grow at a CAGR of 10.67% between 2023 and 2033. By 2033, the market is expected to be worth US$1,178.20 million.

The Dog Dewormer Market in Europe Witnessed a Burst of Energy

Research and development, medical supplies, and veterinary services across Europe were significantly impacted by the widespread spread of the pandemic.
Following the World Health Organization’s classification of the illness as a pandemic, several European countries, including Germany, the United Kingdom, and Russia, implemented complete lockdown measures to contain the spread.
The animal healthcare sector, including the Europe dog dewormers market, experienced adverse effects as a result of the pandemic, such as decreased veterinary clinic admissions and disruptions in the dewormer drug supply chain.
However, with the emergence of e-commerce channels and the easing of pandemic restrictions, coupled with the resumption of veterinary services, the market’s growth gradually resumed in the latter half of 2020.

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Dog Dewormers Have Some Side Effects that May Constrain the Potential Market

The main things that can inhibit the Europe dog dewormers market growth are the negative effects of dog dewormers and the strict government requirements for the approval procedure of dog dewormers.

In Europe, the Dog Dewormer Market had a Growth Spurt.

The pandemic’s spread paralyzed the area, impacting practically every region of Europe’s research and development, medical supplies, and veterinary services. European nations like Germany, the United Kingdom, and Russia among others announced a total lockdown to stop the spread after the WHO declared the disease to be pandemic due to its broad nature. The animal healthcare sector has suffered as a result, much like numerous other industries.

Decreased veterinary clinic admission rates and supply chain disruptions for dewormer medicines are just a couple of the market effects of the pandemic. The market for dog dewormers in Europe recovered growth in late 2020 thanks to e-commerce channels, and the restart of veterinary services.

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Key Takeaways

The distribution channel category for the veterinary clinics may account for a sizeable revenue share of 39% in the Europe dog dewormers market during the anticipated term.
E-commerce is expected to experience a significant growth rate of 11.08% over the forecasted period in the distribution channel category.
With a share of almost 14% during the projected period, the United Kingdom is expected to dominate.
Due to the existence of significant market participants, Germany had a remarkable revenue share over the forecast period at over 15.0%.
Norway’s market is expected to develop at a quick rate throughout the forecast period.

Competitive Landscape

Fairly fierce competition exists in the Europe dog dewormers market. The prominent market players include Merck & Co., Inc., Boehringer Ingelheim International GmbH, Ceva, Sava Healthcare, Beaphar, and Bob Martin, among others.

To acquire a competitive advantage over one another, these players engage in acquisitions, the introduction of new products, partnerships, and collaborations.

Recent Development

Approval

Boehringer Ingelheim International GmbH declared in January 2021 that NexGard medicines, which are used as antiparasitics in dogs and cats, have received marketing authorization approval in Europe. European Medicines Agency (EMA) and European Commission approved the request.

Acquisition to boost their pipeline-building efforts

In 2021, Dechra Pharmaceuticals boosted its pipeline activities by acquiring Mirataz, Osumia, and 15% of Medical Ethics.

Launch to treat stomach and lungworms, and other worms

In April 2019, Taurador, a dewormer for a topical treatment to treat lungworms, gastrointestinal roundworms, warbles, and other worms in cattle, was introduced by Norbrook Laboratories Ltd.

Key Segments

By Distribution Channel:

Veterinary Clinics
Retail/Pet Stores
E-commerce

By Country:

Germany
Italy
Spain
Portugal
Romania
Slovakia
Czech
Hungary
Poland
Ireland
The United Kingdom
France
Denmark
Sweden
Norway
Rest of Europe

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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Off-Highway Vehicle (OHV) Telematics Market Size to Reach US$ 2154.3 million by 2033 at 16% CAGR

The off-highway vehicle (OHV) telematics market size is expected to be valued at US$ 488.3 million in 2023, rising to US$ 2154.3 million by 2033. The off-highway vehicle (OHV) telematics market is predicted to develop at a 16% CAGR between 2023 and 2033.

The forecast for the OHV telematics market remains positive, mostly due to the increased implementation of telematics solutions in construction, agriculture, and mining equipment.

The automotive sector is utilizing next-generation technologies including automotive telematics while assisting in the creation and efficiency of machines. As a result of this, the market is expected to increase significantly over the forecast period.

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The expansion of the automobile sector and the use of sophisticated technologies for improved equipment performance have increased end-user demand for telematics technologies.

The incorporation of big data and other modern technologies for improved connectivity and real-time data has increased in off-highway vehicles. Moreover, the increased demand for sophisticated OHVs for applications including precision farming is driving the use of telematics technologies.

The rise of telematics, combined with great performance and reduced labor costs thanks to the support of AI and IoT, has increased sales of OHVs equipped with modern telemetry systems.

The growing requirement for OHV security and protection without sacrificing cost or efficiency has resulted in the implementation of a smart telematics system that optimizes machinery operations.

Key Takeaways:

According to FMI’s study, the construction segment is projected to account for around 65% of global OHV telematics market sales.
In the last five years, the market recorded a CAGR of 11%.
The market for automated guided vehicles in the United States is expected to develop at a 15% CAGR through 2033, according to FMI.
According to FMI’s analysis, Germany is expected to lead Europe’s (OHV) telematics market, rising at a healthy 14% CAGR throughout the projection period.
The market’s main players control roughly 60% of the market.

Competitive Landscape:

Leading industry participants are emphasizing the extension of their already extensive product portfolios. Moreover, increasing expenditure on research to develop improved products is another key strategy for market players to preserve their market position. Other important objectives include facility expansions and strategic alliances to help meet the increased demand for OHV telematics from a variety of end-use sectors. For example,

July 2022 – Guidepoint Systems, a global provider of car telematics and Software as a Service (SaaS), partnered with Free2move, Stellantis’ global fleet, mobility, and linked data firm.
March 2022 – Navistar reaffirmed its commitment to a connected and data-driven future by standardizing a factory-installed telematics solution on the recent Class 6-8 International Truck and IC Bus vehicle ranges.

Key Companies Profiled

Omnitracs, LLC
ORBCOMM
Stoneridge, Inc.
Teletrac Navman
TomTom International BV
Trackunit A/S
Wacker Neuson
Zonar Systems Inc.
TTCONTROL GMBH
ACTIA Group

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OHV Telematics Market by Category

By Sales Channel:

Original Equipment Manufacturers (OEMs)
Aftermarket

By Technology Type:

Cellular
Satellite

By End-Use Application:

Construction
- Cranes
- Dozers
- Dump Trucks
- Excavators
- Loaders
- Others
Agriculture
- Harvesters
- Tractors
Mining
- Surface Mining Machinery
- Underground Mining Machinery

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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New Car Features Drive Airbag Market to US$ 35 Billion by 2033, Premium & Mid-Level Vehicles Lead the Charge

The global automotive airbag market is projected to have a high-paced CAGR of 4.4% during the forecast period. The current valuation of the automotive airbag market is US$ 12.2 Billion in 2023. The value of the automotive airbag market is anticipated to reach a high of US$ 35 Billion by the year 2033.

The key aspects pushing the adoption of the automotive airbag are new premium and mid-level passenger automobile models hitting the market that come standard with airbags. Furthermore, the need for safety systems in all types of cars is expected to skyrocket in the future years.

Furthermore, rising disposable incomes of the growing middle-class population, as well as increasing urbanization, is likely to drive the sales of all types of automobiles, boosting the global automotive airbag market growth throughout the forecast period.

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Curtain airbags are deployed to protect the passenger’s or driver’s head and neck, reducing the risk of harm in the event of a side impact. As a result, they are used in vans, SUVs, and other vehicle types to improve safety. Increasing safety regulations in all types of automobiles are driving market expansion. Due to the needed safety regulations in these vehicles, the demand for the automotive airbag is expected to witness increased usage in heavy-duty trucks and mini-cars.

The healthcare business also offers considerable prospects in the automotive airbags market since these devices protect patients’ necks and heads in the event of an unforeseen collision. As a result, ambulance manufacturers are incorporating sensors in their vehicles that deploy and give additional protection after an accident. These factors are anticipated to generate creative opportunities in the global automotive airbag market share.

The Intermodal Surface Transportation Efficiency Act of 1998 requires that all automobiles and light commercial vehicles sold in the United States have front rider and passenger airbags. As a result, demand for airbags in the United States has increased since then.

In addition, Road Transport and Highways Minister Nitin Gadkari announced the clearance of a draught GSR Notification to make a minimum of six airbags mandatory in motor vehicles carrying up to 8 occupants. All these factors collectively contribute to the product demand and expand the global automotive airbag market size.

However, airbag systems are not too important for automobile owners in developing countries. As a result, many automobile manufacturers supply low-cost airbags just to comply with safety rules. However, in order to save money, passenger safety is sacrificed, and the durability of that airbag system falls short of consumer expectations. This inhibits people from purchasing automobiles with airbag systems. As a result, this business has two major challenges: cutting out cheap airbag producers and working on the high cost of airbag systems for all types of automobiles, which may hamper the market growth.

Key Takeaways:

During the forecast period, India is expected to account for the largest share of the global automotive airbag market. The market in this region is expected to rise since automobile and auto-component manufacturers believe India to be one of their favoured economies for setting up manufacturing plants. Moreover, various companies have collaborated with a local carmaker to export the cars in conformity with government regulations.
The hair dryer market in the North America is predicted to develop rapidly, particularly in the U.S., during the projected period. This is attributed to rising government rules for vehicle safety and standards, quick adoption of new technology, and major investment in product innovation. Furthermore, frontal airbags have been required standard equipment for all passenger automobiles and light commercial vehicles in North America since 1998 due to strict regulation implementation.
Owing to increasing driver safety issues and burgeoning passenger vehicle manufacturing, the “passenger” vehicle type is expected to hold the greatest revenue, through the forecast period.
As it provides superior physical features such as increased impact resistance, decreased density, and a high specific heat capacity, the “nylon” yarn type, accounts for a significant share and is the most preferred type.

Competitive Landscape:

The global automotive airbag market share is experiencing a transformational period as a result of technological breakthroughs and various innovations. The creativity that goes into the production of hair dryers is predicted to continue attracting clients, creating enormous chances for major suppliers to leverage on such expanding trends and launch fresh product lines.

KEY PLAYERS:

Autoliv Inc., Takata Corporation, Daicel Corporation, Denso Corporation, Hyundai Mobis Co. Ltd., Toyoda Gosei Co. Ltd., ZF Friedrichshafen AG, Kolon Industries, Toray Industries Inc., Porcher Industries SA, Nihon Plast Co. Ltd., Delphi, Wacker Chemie AG, Hyosung Co., Toyobo Co. Ltd.

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Automotive Airbag Market by Category

By Vehicle Type:

Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle

By Product Type:

Driver Airbag
Passenger Airbag
Side Airbag
Curtain Airbag
Knee Airbag
Other Airbags

By Coating Type:

Neoprene
Silicone
Non-Coated

By Yarn Type:

Nylon
Polyester

By Sales Channel:

Original Equipment Manufacturers (OEMs)
Aftermarkets

By Region:

North America
Latin America
Eastern Europe
Western Europe
Asia Pacific excluding Japan
Japan
Middle East and Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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E-V Power Surge Drives USA & Global Automotive Wiring Harness Market Size to US$ 119.3 Billion by 2033

The global automotive wiring harness market size is expected to reach a staggering value of US$ 119.31 billion by 2033, according to Future Market Insight. This projection reflects a CAGR of 8%, highlighting substantial growth compared to the projected value of US$ 55.26 billion in 2023.

The increasing popularity of electric vehicles in the United States is a significant development affecting the automotive wire harness industry. The number of electric vehicles in use in the United States is now 1.7 million, with a total of around 285 million automobiles on the road. EVs require specialised wiring harnesses to accommodate high-voltage equipment and battery connections. As EV usage grows, so will the demand for specialised wire harnesses.

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A growing concern for road safety has increased the demand for advanced vehicle safety features. Examples of these features include Advanced Driver Assistance Systems (ADAS), collision avoidance systems, lane departure warnings, and adaptive cruise control. To support these technologies, robust and intricate wiring harnesses are essential. Wiring harnesses facilitate the seamless integration of sensors, cameras, and control units.

The integration of advanced infotainment systems, telematics, and connectivity features in modern vehicles demands sophisticated wiring systems. These wiring harnesses enable the smooth transfer of data and seamless communication between diverse vehicle components. As consumer demand for connected cars continues to soar, the need for state-of-the-art wiring harnesses becomes increasingly pronounced.

Nowadays, vehicles are equipped with electronic systems, infotainment features, navigation systems, and connectivity options. The demand for seamless integration and functionality increases the need for efficient and reliable wiring harnesses. Wiring harnesses are critical in transmitting data and power effectively throughout the vehicle. As in-car connectivity and advanced infotainment systems continue to evolve, the demand for advanced wiring harnesses is expected to rise further.

Governments worldwide implement stringent regulations for vehicle safety, fuel efficiency, and emission standards. These regulations require specific safety features and technologies in vehicles, leading to the need for additional wiring harnesses. Automotive manufacturers strive to comply with these regulations. Safety features like airbags, anti-lock braking systems (ABS), and electronic stability control (ESC) rely heavily on robust wiring harnesses for their optimal functionality. As a result, the demand for automotive wiring harnesses intensifies.

The aftermarket segment presents substantial growth prospects for the automotive wiring harness market. As vehicles age, the need for wiring harness replacement and repair becomes increasingly prevalent. This creates significant opportunities for manufacturers and suppliers operating in the market. Moreover, the proliferation of electric vehicle charging stations necessitates the usage of wiring harnesses to support power transmission and facilitate seamless connectivity.

Key Takeaways from the Automotive Wiring Harness Market

The automotive wiring harness industry in the United Kingdom is anticipated to rise sizably, exhibiting a CAGR of 7.6% through 2033.
The United States held a 17.8% share of the global automotive wiring harness industry in 2022.
With a CAGR of 7.8% over the forecast period, India is predicted to develop rapidly in the automotive wiring harness industry.
In 2022, Japan had a 5.2% share of the automotive wiring harness industry globally.
The automotive wiring harness industry in China is expected to flourish speedily, registering a CAGR of 8.2% over the forecast period.
Germany accounted for 4.7% of the global automotive wiring harness industry in 2022.

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Competitive Landscape in the Automotive Wiring Harness Market

Key players are actively engaged in various strategies to maintain their market position and meet the evolving demands of the automotive industry. These strategies include product innovation, research and development, partnerships and collaborations, mergers and acquisitions, and geographic expansion. Companies are focusing on developing advanced wiring harness solutions that offer higher efficiency, increased durability, and improved performance. Additionally, they are investing in technologies such as electrification and autonomous driving to cater to the growing demand for electric vehicles and advanced driver-assistance systems.

Key Companies Profiled In The Automotive Wiring Harness Market

LEONI Group
Samvardhana Motherson Group
Sumitomo Electric
Yazaki Group
Fujikura Ltd.
Lear Corporation
Furukawa Electric Co. Ltd
YURA Tech Corporation
Nexans

Key Segments Profiled In The Automotive Wiring Harness Market

By Product Type:

Chassis & Safety
- Conventional Chassis
- Semi-Forward Chassis
- Full Forward Chassis
Body
- Roof
- Door & Window
- Facia
- Seat
- Interior
HVAC
Engine
Sensors

By Vehicle Type:

Passenger Cars
- Compact
- Mid-Sized
- SUV
- Luxury
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles
- BEV
- PHEV

By Sales Channel:

First Fit
Replacement

By Region:

North America
Latin America
Europe
Asia 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.

Contact Us:

Nandini Singh Sawlani

Ultrafiltration Membranes Market to Boom: Poised to Reach US$ 10.7 Billion by 2033

The global ultrafiltration membranes market is anticipated to be US$ 10.7 billion by 2033. It is estimated to record a steady CAGR of 8.0% in the review period 2023 to 2033. It is likely to total US$ 5.0 billion in 2023. The global ultrafiltration membranes market registered an astonishing CAGR of 10.7% in the historical period between 2018 and 2022.

The ultrafiltration membrane market manufactures, distributes, and applies ultrafiltration membranes. Ultrafiltration (UF) is an essential process in several industries and applications, including water treatment and filtration.

Ultrafiltration is a membrane-based separation technology that uses semi-permeable membranes with typical pore sizes ranging from 1 to 100 nanometers. It separates particles, colloids, and macromolecules from solutions or suspensions. UF operates on the size exclusion principle, permitting smaller molecules to pass over the membrane while retaining larger molecules.

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UF is used for filtration, concentration, and purification in milk processing, juice filtration, and whey protein separation. Ultrafiltration plays an important role in protein purification, virus removal, and concentration in biopharmaceutical production. It is likewise used in medical applications such as hemodialysis. Several industries, including chemical, petrochemical, and electronics, use ultrafiltration for wastewater recycling, water treatment, and product filtration.

Factors such as growing concerns over water quality, rigorous environmental regulations, and demand for advanced separation technology are driving the development of the ultrafiltration membrane market. Continuous research and development efforts drive the growth of more efficient and cost-effective ultrafiltration membranes with enhanced performance.

Rapid industrialization and urbanization in developing economies generate significant opportunities for applying ultrafiltration technology. The need for sustainable and environmentally friendly solutions drives the adoption of ultrafiltration technology, which can reduce chemical use and energy consumption compared to traditional treatment methods.

Key Takeaways from the Ultrafiltration Membranes Market Report

The United States ultrafiltration membranes industry is projected to reach US$ 1.9 billion in the forecast period.
The United Kingdom’s ultrafiltration membranes industry is set to be valued at US$ 413.1 million by 2033.
China’s ultrafiltration membranes industry is likely to total US$ 1.6 billion by 2033.
Japan’s ultrafiltration membranes industry is estimated to register US$ 1.1 billion by 2033.
Based on material type, the ceramics materials are set to witness a CAGR of 7.8% from 2023 to 2033.

“Several membranes uphold certain purity levels through separation courses used in food and beverage processing, water treatment, and pharmaceutical applications. Concerns about the impact of contaminants in groundwater, such as pesticide and pharmaceutical deposits, have been elevated. The need for discerning separation technology to meet recognized water quality values in such cases is ultimately the driving force behind the worldwide market.” – says Nikhil Kaitwade, Associate Vice President, Future Market Insights

Competitive Landscape and Recent Developments in Ultrafiltration Membranes Industry:

Increased investment and ongoing research and development in membrane separation technology have led to the outline of membrane separation goods with improved toughness and higher flow rates. Furthermore, manufacturers are emerging membrane separation technology for industrial applications to meet the specific necessities of end-use industries.

For instance,

In February 2021, Toray Industries, Inc. announced the launch of polyvinylidene fluoride (PVDF) and ultrafiltration (UF) membranes for water treatment with outstanding virus removal rates and augmented water permeability.
In June 2020, H20 Innovation Inc. announced the signing of a strategic cooperation agreement with Nanostone Water, Inc., a ceramic membrane manufacturing company.
In September 2019, DuPont Safety & Construction announced that it had entered into an agreement to acquire BASF’s Ultrafiltration Membranes business, including inge GmbH.

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Top Key Players in the Global Market

3M
Advantec Mfs Inc
Alfa Laval
Asahi Kasei
Atech Innovations GmbH
B. Braun Medical Inc

Get More Valuable Insights into Ultrafiltration Membranes Market Report

In its new offering, future Market Insights (FMI) provides an unbiased analysis of the global ultrafiltration membranes market, presenting historical demand data (2018 to 2022) and forecast statistics from 2023 to 2033.

The study incorporates compelling insights on the ultrafiltration membranes industry based on material type (ceramics, polymers, other material types) and end-use (hemodialysis, industrial processes, food and beverage, potable water, biopharmaceuticals, wastewater) across several regions.

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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Pharmaceutical Plastic Packaging Market is Expected to Reach at a US$ 96,339.2 Million by 2033 | FMI Report

Attributing to several benefits of pharmaceutical plastic packaging the overall attractiveness of the market is expected to remain high during the forecast period. By registering a CAGR of 5.8% the overall valuation of the global pharmaceutical packaging market is anticipated to reach US$ 96,339.16 million by 2033.

Increasing pressure to dispatch novel and sensitive medicines, especially those having less shelf life is pushing demand for active packaging solutions. Technological advancements in drug packaging along with supply chain and inventory tracking play a vital role in safe drug delivery from the lab to the market.

During the pandemic, pharmaceutical and packaging industries faced challenges in the supply chain and the need to change the packaging. Limitations on transportation were creating insufficiency of the raw material and other resources, straining the pharmaceutical plastic packaging solution production processes.

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In the first quarter of 2021, the pharmaceutical plastic packaging market did recover at a rapid pace, as various nations resumed their manufacturing activities. They also started taking initiatives for reforming regulations and allowing plastic packaging of drugs for quick distribution of medicines and eliminating Covid-19.

Key Takeaways from the Pharmaceutical Plastic Packaging Market Study Report

The United States pharmaceutical plastic packaging market is expected to witness consistent growth of 3.6% in the forecast period, owing to rising demand after the pandemic.
East Asia has emerged as the most lucrative market for pharmaceutical plastic packaging and is expected to create an incremental opportunity of nearly US$ 12 billion by 2030.
Among the different types of products, plastic bottles rule the roost by contributing 40% market share, followed by caps & closures.
Primary packaging witnesses the highest demand as it comes in direct contact with the drug. Secondary and tertiary packaging implies the packaging of different groups of primary packaging.
The next generation of prefilled syringes and cartridges is expected to outbid demand for expensive intravenous infusions (IV infusions) during the forecast period. Such advancements may lead to significant momentum in the production and sales of pharmaceutical plastic packaging going forward.
Also, Zip-lock bags and pouches are gaining significant traction in the global market as it requires skill to slide a zipper and access the content. Further, the flap provided on the zipper covers it completely when the bag is not in use making it higher in demand these days. It could be quite lucrative for drug packaging solution providers to increase their production capacity and market position in the coming days.

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Competitive Landscape for the Pharmaceutical Plastic Packaging Market Players

Gerresheimer AG, SCHOTT AG, Alpha Packaging Holdings Inc., Klöckner Pentaplast Group, Amcor Plc., Berry Global, Inc., Becton, Dickinson and Company, Parekhplast India Ltd, West Pharmaceutical Services, Inc., Wipak Group, Mondi Plc., Sealed Air Corporation, and Constantia Flexibles Group GmbH among others are some key players in the global pharmaceutical plastic packaging market.

In January 2020, Gerresheimer AG expanded its production capacities in plants based out of China and India for manufacturing pharmaceutical plastic packaging. Besides, in April 2020, Gerresheimer Group company Centor Inc., a plastic packaging manufacturer, expanded storage capacity. It also introduced a pre-fillable polymer syringe at a Germany-based plant.

Recent Developments by the Pharmaceutical Plastic Packaging Industries

Increasing demand for child-resistant packaging among consumers is one of the factors driving the pharmaceutical plastic packaging market during the forecast period. Pharmaceutical plastic bottles and containers with an added layer of security are provided with an advanced design to make them child-resistant. As per the United States FDA, pharmaceutical plastic packaging manufacturers have to highlight ‘child-resistant packaging’ on the product label for appraising the consumer.

Key Segments Covered

By Product:

Plastic Bottles
Caps & Closures
Pre-fillable Inhalers
Pre-fillable Syringes
Ampoules & Vials
Blister Packs
Bags & Pouches
Jars & Canisters
Cartridges
Other Products

By Material Type

Polyethylene (PE)
Polypropylene (PP)
Polyethylene Terephthalate (PET)
Polyvinyl Chloride (PVC)
Polyamide (PA)
Cyclo-olefin Polymer (COP)
Cyclo-olefin Copolymer (COC)
Other Materials

By Packaging Type:

Flexible Packaging
Rigid Packaging

By Drug Delivery Mode:

Oral Drug Delivery Packaging
Injectable Packaging
Topical Drug Delivery Packaging
Pulmonary Drug Delivery Packaging
Transdermal Drug Delivery Packaging
Ocular Drug Delivery Packaging
Nasal Drug Delivery Packaging
Other Drug Delivery Packaging

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa (MEA)

About Future Market Insights Inc. (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

Light Up Shoes Market Forecasted to Reach US$ 376.5 Million by 2033, with a 4.00% CAGR Growth Trajectory

According to newly released data by Future Market Insights (FMI), the light-up shoes market is estimated at US$ 254.4 million in 2022 and is projected to reach US$ 376.5 million by 2033, reflecting a CAGR of 4.00% from 2023 to 2033.

The concept of light-up shoes originated in 1992 when the popular shoe brand LA Gear introduced a unique sneaker featuring a transparent heel and lights that illuminated with each step. Initially targeting kids in America, the manufacturers soon found that adults were also interested, leading to the popularity of these LED light-up shoes. However, the trend quickly faded due to the lack of advanced technology and the use of harmful batteries in these shoes.

There are many driving factors that are fuelling the light up shoes market. the main market for the light up shoes are United States, China and Korea. The influence of celebrities, use of light up shoes by social media influencers and content creators, use of light up gears and accessories at concerts, night clubs and rave parties and do-it-yourself light-up shoes trends in many countries are helping the market growth.

On the other hand, it is expected that the availability of locally manufactured, replicated, or phoney products would limit market growth. The COVID-19 outbreak had many countries to regulate the import and export, ultimately affecting the raw material supply chain, posing a challenge for the light up shoes industry.

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Key Takeaways from the Light Up Shoes Market Study

The lace-up light up shoes are the popular type among all the different shoes type. These shoes are bit heavy, as they have LED light and batteries, and to give better grip and comfort, these shoes have laces, which have overall best holding strength.
Rubber soles are widely used for light up shoes. Transparent rubber soles and translucent soles are utilised in light up shoes to make them seem high-end while also keeping light from spreading inside the shoes.
Men’s light up shoes are in higher demand than children’s and women’s light up shoes. Although there are several makers of unisex shoes, men are the primary customers and users of light up shoes.
In the case of regional analysis of regions like the North America and Asia is expected to gain traction in the light up shoes market.

“The light up shoes are trending again in many countries. The night life of party people and increasing number of music concerts are responsible for increasing trend for the light up shoes.” Says an FMI Analyst.

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Who is winning?

Leading players operating in the Light Up Shoes Market

Skechers
Bold N Elegant
Voovix
Mr. SHOES
Li Ning Shoes
BRIGHT LED shoes
The Quirky Naari
Flyknit
CHiU
DIYJTS
Shinmax
Others

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Future Market Insights, in its new offering, provides an unbiased analysis of the market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Light Up Shoes Market by Product Type (Adult LED Shoes, Children LED Shoes), Closure Type (Lace-Up, Elastic, Velcro, Slip-on, Others), Sole Material (Rubber, Polyurethane, Leather, EVA, Others), Outer Material (Genuine Leather, Faux Leather, Canvas, Mesh, Other), Sales Channel (Multi-brand Stores, Independent Small Stores, Online Retailers, Others) & Region – Forecast to 2022-2032

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Nandini Singh Sawlani

Training Shoes Market Poised to Reach US$ 356.6 Million by 2032, Reflecting a 3.9% CAGR Growth Trajectory

According to newly released data by Future Market Insights (FMI), the Training Shoes Market is estimated at US$ 243.2 million in 2022 and is projected to reach US$ 356.6 million by 2032, at a CAGR of 3.9% from 2022 to 2032.

As awareness grows regarding the importance of wearing appropriate footwear for sports activities to prevent muscular injuries, sprains, knee pain, and back pain, individuals are also becoming mindful of potential future complications such as hip and lower back issues. Prolonged stress on calf muscles and tendons can lead to ruptures and damage.

The versatility of training footwear has contributed to its increasing popularity among a diverse range of users, including athletes, fitness enthusiasts, gym-goers, and those engaging in light exercise routines. Available in various varieties, training footwear is crafted from high-quality materials such as leather, foam, plastic, and modern chemical additives.

Manufacturers’ use of social media for promotion and marketing has made these training shoes a hot topic. Furthermore, in addition to shops and retail stores, internet marketplaces are a popular platform for purchasing training shoes. Discounts and numerous incentives are available while purchasing products online, attracting more buyers.

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The biggest hindrance to the market is environmental concerns, as these shoes are constructed of synthetic materials and the production process involves the use of chemicals and dyes that are hazardous to the environment. Waste debris and waste water are commonly dumped into rivers, creating pollution and endangering marine life. Many government measures and restrictions are constraining producers and, as a result, the total training shoe industry.

Key Takeaways from the Sneaker Market Study

The lace-up training shoes are the popular type among all the different shoes type. The laces are commonly employed by manufacturers as they provide additional support and can be adjusted by loosening or tightening them.
PU soles are widely used for Training shoes. PU soles are ideal for the training shoes, as they are comfortable, provide support and also are durable, keeping them in top shape even in strenuous physical activities.
Men’s Training shoes are in higher demand than children’s and women’s Training shoes. Men are preferring the training shoes for different physical activities, including workouts and weight training.
In the case of regional analysis of regions like the North America and Asia is expected to gain traction in the Training shoes market.

“As people are re-joining gyms and starting to include exercise in their daily life, training shoes are gaining their demand back. People are not aware of using proper shoes of different activities.” Says an FMI Analyst.

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Who is winning?

Leading players operating in the sneaker market

Nike Inc.
Adidas Group
Asics Corp.
Puma SE
New Balance Inc.
Skechers Inc.
Reebok
Under Armour
FILA Ltd.
Others

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Future Market Insights, in its new offering, provides an unbiased analysis of the sneaker market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the Training Shoes Market by Closure Type (Lace-Up, Elastic, Slip-on, Velcro, Others), Sole Material (Polyurethane, Rubber, Leather, EVA, Others), Outer Material (Leather, Mesh, Synthetic Material, Other), Consumer Orientation (Men, Women, Kids), Sales Channel (Multi-brand Stores, Independent Small Stores, Online Retailers, Others) & Region – Forecast to 2022-2032

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Training Shoes Market by Category

By Closure Type

Lace Up
Elastic
Slip-on
Velcro
Others

By Sole Material

Polyurethane
Rubber
Leather
EVA
Others

By Outer Material

Leather
Mesh
Synthetic Material
Others

By Consumer Orientation

Men
Women
Kids

By Sales Channel

Multi-brand Stores
Independent Small Stores
Online Retailers
Other Sales Channel

By Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Nandini Singh Sawlani

Chunky Sneaker Market: Projected to Reach US$ 68,725.6 Million by 2032, Unveiling the Future of Footwear Trends

According to newly released data by Future Market Insights (FMI), the Chunky Sneaker Market is estimated at US$ 44,254.3 Million in 2022 and is projected to reach US$ 68,725.6 Million by 2032, at a CAGR of 4.50% from 2022 to 2032.

With the resurgence of the chunky sneaker trend, there has been a noticeable surge in the number of people in major cities worldwide embracing the hype. As the trend gains momentum, so does the demand for chunky sneakers. This increasing demand has prompted numerous brands to create their own innovative chunky sneaker designs. As more consumers make purchases, the production of chunky sneakers is expected to further escalate. It’s all about the fundamental principles of supply and demand, my friends.

They are referred to by one segment of society as “simply casual dad shoes” and by another as “the next big thing in fashion.” Regardless of the ongoing argument, these adaptable clunky sneakers have made a significant reappearance this year.

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It was high time for a sustainable option in the sneaker industry, considering the detrimental impact of the fashion sector on the environment. Major sports brands such as Puma, Nike, and Adidas have taken deliberate steps to manufacture eco-friendly sneakers. These sneakers are crafted using vegan leather with minimal PVC content. Additionally, brands like Yeezy have utilized locally grown algae to create their latest Foam Runner line.

Customers who are more likely to buy these bulky trainers undoubtedly want to make a statement, whether or not they are aware of it. Over the previous 12 months, chunkier soles, brighter colours, and increased attention to detail have all been seen on sneakers. Take the Balenciaga Triple S, a large shoe with three stacked sole portions that instantly caught the attention of social media users and sneakerheads.

“The Chunky Sneaker Market to greater heights because of increase attention seen on sneaker and social media users and sneakerhead.” Says an FMI analyst.

Key Takeaways:

Through 2032, Men Chunky Sneaker Market is expected to hold a significant market share in terms of Chunky Sneaker Market.
Application Type, through 2032, demand will continue to increase in the Male Segment by xx%.
North America shares the major share in the Chunky Sneaker Market by xx%.
Speciality Stores shares the major share is xx% in the Chunky Sneaker Market.

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Who is winning?

Leading players operating in the Chunky Sneaker Market are

Puma
Balenciaga
Louis Vuitton
Adidas
A.P.C.
Nike
Gucci
Fila
Champion
Topshop
Jeffrey Campbell
Sketchers
Ash
Treton
Off-White and among others

The Chunky Sneaker Market by Category

By Type :

Road
Treadmill
Trail
Mud
Snow

By Waterproofing :

Waterproof
Water Repellent

By Consumer Orientation :

Men
Women
Kid

By Price Range :

Below US$ 20
US$ 20 – US$ 50
US$ 50 – US$ 100
Above US$ 100

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Nandini Singh Sawlani

PET Preform Market is Expected to Surge at a CAGR of 4.4% During the Forecast Period 2034 | FMI

The Global PET Preform Market is anticipated to reach a valuation of US$ 17.5 billion in 2024, driven by eco-friendly packaging solutions. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.4% between 2024 and 2034, and reaching a total valuation of approximately US$ 26.3 billion by 2034.

One of the major factors contributing to the growth of the market is the ability to offer customization for small batch production, which allows PET preform manufacturers to cater to niche markets and specific customer requirements, fostering innovation and flexibility.

Advancements in 3D printing technologies may influence the market by enabling more rapid prototyping, customization, and cost effective production processes. Beyond simply using recycled materials, companies adopting comprehensive sustainability practices, such as reduced water usage, energy efficiency, and waste reduction, may attract environmentally conscious consumers.

Ongoing research and development in the field of elastic polymers can lead to the creation of PET preforms with enhanced flexibility and durability, expanding their applications in various industries. The growth of direct to consumer models in various industries, including food and beverages, may influence packaging requirements. PET preform manufacturers can adapt to the changing needs of brands selling directly to consumers.

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Companies investing in research and development to create innovative PET preform solutions, including improvements in barrier properties, lightweighting, and design, can gain a competitive edge. Packaging designs that prioritize consumer convenience, such as easy to open caps or resealable features, can be a driving factor in product differentiation within the PET preform market.

The increasing trend towards non-alcoholic beverages, including mocktails, non-alcoholic beers, and specialty drinks, presents new opportunities for PET preform manufacturers in the beverage packaging sector. Collaborations between manufacturers, suppliers, and distributors, as well as mergers and acquisitions, can reshape the competitive landscape and create new growth opportunities in the PET preform market.

Key Takeaways from the Market Study

From 2019 to 2023, the market demand expanded at a CAGR of 2.4%.
The market in India is expected to expand at a CAGR of 7.1% through 2034.
By capacity, the 500 ml to 1000 ml segment to account for a market share of 53.3% in 2024.
From 2024 to 2034, PET preform market is expected to flourish at a CAGR of 4.4%.
By 2034, the market value of PET preform is expected to reach US$ 26.3 billion.

“Integration of smart packaging technologies, such as RFID tags or QR codes, can provide traceability and authentication features, which can be appealing to both consumers and businesses, influencing purchasing decisions,” says Ismail Sutaria (Lead Consultant, Packaging and Materials).

Competitive Landscape

Prominent players in the PET preform market are

ALPLA Werke Alwin Lehner GmbH & Co KG
Plastipak Holdings Inc.
RETAL Industries Ltd.
Resilux NV
Societe Generale Des Techniques (SGT)
Taiwan Hon Chuan Enterprises Co. Ltd.
Zhongfu Enterprise Co Ltd.
Manjushree Technopack Limited Co.
Logoplaste UK Ltd.
Indorama Ventures Public Co. Ltd.

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Key Developments

In 2022, The ALPALA Group unveiled a strategic collaboration with premier company of Austria, Voslauer, marking the introduction of an innovative returnable PET bottle. The primary objective behind this product launch is to achieve a 30% reduction in carbon emissions, highlighting the commitment of both entities to sustainable and eco-friendly initiatives.

More Valuable Insights Available

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

To understand opportunities in the PET preform market, the market is segmented on the basis of capacity (up to 500 ml, 500 ml to 1000 ml, 1000 ml to 2000 ml, more than 2000 ml), neck type (ROPP/BPV, PCO/BPF, alaska/bericap/obrist, others), and end use (beverages, food, personal care, pharmaceuticals, home care), 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 Inc. (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