Market Research Blog – Page 3288 – New Product Development

Global Intra-abdominal Pressure Measurement Devices Market Set for Explosive Growth at 12.4% CAGR, Reaching US$ 318.3 million by 2033.

The global intra-abdominal pressure measurement devices market is projected to witness significant growth, reaching a value of US$ 318.3 million by 2033. This represents a remarkable Compound Annual Growth Rate (CAGR) of 12.40% from its estimated valuation of US$ 98.9 million in 2023.

Rising Abdominal Hypertension Cases Fuel Market Expansion

Several key factors are driving this growth trajectory. One primary driver is the increasing prevalence of abdominal hypertension, a condition linked to various health concerns, including trauma, organ failure, and pancreatitis. As the number of patients with abdominal hypertension rises, so too does the demand for effective management and monitoring tools, propelling the market for intra-abdominal pressure measurement devices.

Heightened Awareness and Technological Advancements Create Synergy

Growing awareness among healthcare professionals regarding the complications associated with abdominal hypertension, such as decreased cardiac output, organ dysfunction, and impaired respiratory function, is leading to a greater emphasis on early detection. This focus on early intervention is driving the adoption of intra-abdominal pressure measurement devices.

Furthermore, the rapid advancements in healthcare technologies are playing a crucial role in market expansion. The incorporation of features like wireless connectivity, smart sensors, and real-time monitoring capabilities enhances the reliability, user-friendliness, and accuracy of these devices. Additionally, seamless integration with electronic health record systems provides a more comprehensive overview of patient health.

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Improved Patient Safety and Demographic Shifts Drive Demand

The ability to monitor abdominal pressure effectively translates to improved patient safety by offering healthcare providers the means to prevent complications and enhance treatment outcomes. As a result, hospitals and clinics are increasingly investing in these devices to minimize risks and improve patient care.

The growing geriatric population and the rising incidence of chronic diseases such as chronic kidney disease, diabetes, cardiovascular issues, and obesity are further contributing to market growth. These demographics require close monitoring, and intra-abdominal pressure measurement devices provide a valuable tool for managing such conditions.

Key Takeaways:

The intra-abdominal pressure measurement devices market is estimated to secure a valuation of US$ 328.3 million with a CAGR of 12.40% by 2033.
In the historical period, the market captured a valuation of US$ 89.4 million with a CAGR of 10.6% in 2022.
The United States dominates the global market by registering a share of 45.1% during the forecast period.
Japan is anticipated to secure a share of 6.4% in the global market by 2033.
With a CAGR of 15.70%, Australia is significantly driving the global market by 2033.
Germany is another nation predicted to register a share of 6.7% in the global market during the forecast period.

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Competitive Landscape:

The market is highly fragmented, with several competitors in the intra-abdominal pressure measurement devices space. These companies are implementing mergers and acquisitions, partnerships and collaborations, and new product launches to meet consumer demand and expand their customer base.

Other Prominent Players in the Global Market are:

R. Bard, Inc.
ConvaTec Group PLC
Stryker Corporation
Biometrix Ltd. (Degania Silicone, Ltd.)
Centurion Medical Products
Holtech Medical
ConvaTec Group PLC
Potrero Medical
Gaeltec Devises Ltd.
Speigelberg GmbH & Co. KG.
C2Dx Inc.
Scranton Gillette Communication
Nutrimedics S.A.
SEM Mthembu Medical (Pty) Ltd
Carl Zeiss AG

Market by Category:

By Product:

Disposables
Equipment

By Application:

Intra-abdominal Hypertension
Intra-compartment Pressure

By End User:

Hospitals
Clinics
Trauma Centers
Ambulatory Surgical Centers (ASCs)

By Region:

North America
Latin America
Europe
Asia Pacific
The Middle East and Africa

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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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Global WAN Optimization Market Poised for Robust Growth, According to New Analysis Report

According to the detailed report by Future Market Insights, the global WAN optimization market recorded sales of US$ 935.1 million in 2018. The market is anticipated to achieve revenue of US$ 1,150.9 million in 2023. Over the forecast period, the global market is projected to expand at a CAGR of 6.2%, resulting in a market size of US$ 2,106.9 million by the end of 2033.

WAN optimization, often known as WAN acceleration, is an algorithm that improves data flow efficiency across wide area networks, boosting application performance and lowering bandwidth demands. The WAN is categorized based on the distance between endpoints and the volume of data transferred. Branch to Headquarters and Data Centre to Data Centre (DC2DC) are two prevalent enterprise WAN topologies. The purpose of optimization in an enterprise WAN is to improve user experience by boosting the speed with which end users may access business-critical applications and information. Increased throughput, reduced latency and packet loss, and optimized restricted bandwidth are the most typical measurements of data transmission effectiveness.

WAN optimization is used by many organizations to avoid unnecessary traffic, control internet traffic, and give precedence to specific hosts on the network. Moreover, the increased need for WAN optimization across various major and small and medium entities to eliminate data duplication is boosting market expansion.

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Rise in the number of data centers and branch offices is an essential variable in accelerating market growth, as is an increase in cloud-based WAN optimization solutions, an increase in consumer appetite for solutions that help businesses efficiently track and handle data center networks, an increase in the adoption of cloud and electronic WAN optimization controllers, and an increase in the number of branch offices and data centers.

With the advent of next generation 5G networks, various providers of communication services around the globe are significantly introducing virtualized Radio Access Network (RAN) and core networks to decrease overall infrastructure and other indirect expenses. Furthermore, the need for edge computing is growing significantly among entities in order to reduce latency during data calculation. As a result, communication service providers and companies worldwide are progressively deploying optimization solutions to optimize their networks efficiently while assuring minimal downtime.

As VoIP and video content become increasingly prevalent in businesses, they have caused increasing challenges in this sector. Video is a popular medium for corporate interaction, training, and education. The main issue with these videos is that they are spread both within and outside of the company, covering a vast network. As a result, maintaining reliability and delivering high-quality data to end consumers becomes difficult. This is likely to hinder growth of the WAN optimization market in the coming years.

Key Takeaways

North America exhibited a market share of 26.5% in 2022 globally and emerged as a dominant region for the growth of the WAN optimization market.
With a share of 21.3% in the global market for WAN optimization in 2022, Europe established itself as a key region for market players.
Emerging economies such as India and China owing to the rapid urbanization in the countries are expected to expand at a healthy CAGR of 7.8% and 5.4% respectively during the forecast period.
Germany in 2022 accounted for 7.4% of the total shares in the WAN optimization market.

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Market Competition

The major players profiled in the wide area network (WAN) optimization market research report are as follows:

Cisco Systems Inc.
HPE (Silver Peak)
Riverbed Technology
Citrix Systems Inc.
Fortinet
Vmware Inc.
Broadcom
FatPipe Networks Inc.
Versa Networks Inc
Exinda
Blue Coat System

Recent Developments

July 2023 – Hewlett Packard Enterprise (HPE) announced that they will start the production of high-volume servers in India. This manufacturing operation will support the increasing need from consumers in India and further strengthen and diversify HPE’s global supply chain.
June 2023 – In Eastern Europe, the Middle East, and Africa, Cloud Software Group formed a strategic alliance with Midis Group. This relationship offers Cloud Software Group with the local resources its customers require to support their transformative technology journey, as well as the scale necessary to expand its footprint in these regions.

Market Segments Covered in WAN Optimization Market Analysis

By Component:

Solutions
Services

By Deployment Type:

Cloud
On-Premises

By End User:

SME’s
Large Enterprises

By Vertical:

Banking, Financial Services, and Insurance
Healthcare
Healthcare
Manufacturing
Retail
Media & Entertainment
Energy
Education
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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Global Obesity Management Market Poised for Steady Growth Rate CAGR of 5.2%. will increase continuously, reaching US$ 3,494.5 Million by 2033

The global obesity management market is seeing a spike in demand as obesity and the health problems it poses become more common. In response, it is anticipated that the market for obesity control goods and services would grow steadily between 2023 and 2033, with a Compound Annual Growth Rate (CAGR) of 5.2%. will increase continuously, reaching US$ 3,494.5 million by 2033 from US$ 2,095.6 million in 2023.

Market Driven by Growing Awareness and Need

This significant growth is primarily attributed to a heightened awareness of the critical need for obesity management, both among the public and healthcare professionals. The market, currently valued at approximately US$ 2,095.6 million in 2023, is expected to reach a staggering US$ 3,494.5 million by 2033, according to a Future Market Insights (FMI) analysis report.

Demand for Solutions Drives Market Expansion

The increasing incidence of obesity worldwide underscores the vital role effective obesity management services and solutions play in public health. Consequently, companies specializing in obesity management are witnessing a significant rise in demand for their offerings. This trend towards proactive healthcare management is fueling financial growth for businesses involved in obesity control.

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Future Outlook for a Pressing Challenge

As the battle against obesity continues, the obesity management market is well-positioned for sustained growth in the coming years. Addressing this global health challenge will require continued innovation and accessibility within the market to ensure effective solutions reach those who need them most.

Businesses that have understood the benefits of integrating obesity management services into their employee wellness programs are also contributing to the market’s growth. Growing awareness and focus on preventative healthcare is encouraging people to get expert assistance in managing their weight and overall health. Additionally, industrialized places where obesity and other lifestyle-related disorders have become major public health concerns exhibit this tendency.

Many customers are unable to receive professional treatment or participate in weight-management programs because of the stigma attached to obesity and cultural prejudices. Additionally, some people may be deterred from using obesity control programs and therapies by their high cost, particularly in low-income areas or emerging nations.

Key Takeaways from the Global Obesity Management Market Study Report by FMI

The United States is the leading market in the adoption of obesity management strategies and generated around 32.1% of the global revenue share in 2022. Moreover, market players in the United States are making continuous investments in research and development, working with healthcare practitioners, and taking a patient-centric approach.
Germany is the leading market in the Europe region which had a global market share of 29.5% in the year 2022.
It is anticipated that demand for obesity management services and solutions in the Asia Pacific region could witness a high CAGR through 2033. For instance, China and India are poised to witness 6.6% and 6.4% CAGRs over the next ten years.

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Competitive Landscape for the Obesity Management Market Players

The complexity of obesity and the lack of a universally applicable management strategy are two key barriers even for these leading market players. It is difficult to provide solutions that are universally beneficial since each individual may require a treatment plan that is specialized and unique to them.

In recent years the growing percentage of obese people in third-world countries has encouraged many start-ups to adopt the business of obesity management. However, for such emerging players, it could be essential to make sure obesity control treatments are affordable and accessible to increase their impact.

Key Players Profiled in the Global Market:

GlaxoSmithKline Plc.
VIVUS, Inc.
Novo Nordisk A/S
Currax Pharmaceuticals LLC
Cheplapharm Arzneimittel GmbH
Bausch Health Companies Inc.
Takeda Pharmaceuticals, Inc.

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Key Segmentation

By Drug Type:

Bupropion and Naltrexone
Orlistat
Lorcaserin
Phentermine and Topiramate
Liraglutide

By Surgery Type:

Gastric Bypass Surgery
Adjustable Gastric Banding Surgery
Gastric Sleeve Surgery
Duodenal Switch Surgery
Others

By Distribution Channel:

Hospitals Pharmacies
Retail Pharmacies
E-commerce

By Region:

North America
Latin America
Asia Pacific
The Middle East & Africa (MEA)
Europe

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Rapid Surge in Tax Management Market Projected to Reach US$ 61.4 Billion by 2032

The market for indirect tax management is anticipated to reach US$ 5.744 billion in 2023 and develop at a robust CAGR of 11.8% between 2023 and 2033. The market is anticipated to be valued US$17.57 billion by 2033.

The indirect tax management industry is expected to develop at a faster rate due to a number of variables. Among these issues are the growing complexity of tax regulations, the need for precise and efficient tax compliance, and the increasing globalisation of business.

Because of the growing need for precise and efficient tax compliance in a global company environment, the indirect tax management industry has a promising future. It is expected that companies will continue to use state-of-the-art tax management systems in order to maximise efficiency, reduce risks, and make tactical choices based on data.

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Key Takeaways

The deployment category’s on-premises segment is expected to have a leading market share of 65.1% by 2033.
In the application category, the banking, financial services, and insurance (BFSI) industry hopes to gain a sizable market share of 18.2% from 2023 to 2033.
North America holds a market share of US$ 57.52 billion in the global market from 2023 to 2033.
Europe to grab a share of 21.5% from the global market between 2023 and 2033.
China’s market is to expand at a CAGR of 10.2% during the forecast period.
The United Kingdom Market to register a CAGR of 8.6% from 2023 to 2033.
Indian market to record a CAGR of 13.2% through 2033.
The United States to acquire a market share of 16.6% in the global market from 2023 to 2033.
From 2023 to 2033, Germany may hold a 7.1% share of the global market.
Japan to gain a 3.9% market share in the global market between 2023 and 2033.
From 2023 to 2033, Australia to have a global market share of 2.1%.

Navigating the Indirect Tax Maze: Unveiling the Driving Forces of the Indirect Tax Management Market

The need for effective tax management solutions is fueled by the complexity of tax laws and the pressure on businesses to comply with them. Increased cross-border and e-commerce activity has increased indirect taxes, demanding automated solutions for precise computation and reporting.

Businesses can increase operational efficiency and optimize their tax administration operations by implementing cloud-based platforms and cutting-edge technology like artificial intelligence and machine learning. Finally, the demand for indirect tax management solutions is fueled by the emphasis on cost-cutting and risk mitigation.

Unleashing the Power of Indirect Tax Management: Seizing Opportunities in a Complex Tax Landscape

Businesses looking to optimize their tax compliance operations can find lucrative prospects in the indirect tax management industry. Organizations require cutting-edge solutions to ease indirect tax management due to rising laws and complex tax systems around the world.

Innovative software solutions are available on the market that automates tax calculations, reporting, and compliance, minimizing errors and gaining efficiency. These technologies offer organizations real-time visibility into tax liabilities, empowering them to plan and reduce risks.

Companies that provide comprehensive and scalable solutions can take advantage of market opportunities and position themselves as reliable partners for tax management requirements. As the demand for seamless indirect tax management solutions increases.

Unmasking the Challenges: Overcoming Restraining Forces in the Indirect Tax Management

Numerous restraints on the indirect tax management business could prevent it from expanding and being more widely used. Businesses face difficulties navigating diverse tax rates, laws, and reporting obligations due to the complexity of tax regulations in many jurisdictions. Smaller businesses with limited resources may be discouraged by the initial expenditure needed to install effective tax management software and infrastructure.

The adoption of automated tax management solutions may be hampered by a lack of openness to change and a dependence on manual procedures from the past. Businesses could be reluctant to employ cloud-based tax management tools because of worries about data security and privacy. Education, awareness, and a gradual transition to digital tax management practices are necessary to overcome these impeding obstacles.

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Competitive Edge

The indirect tax management market is highly competitive. There is an expanding need for reliable software solutions and services as businesses work to efficiently manage their indirect taxes and remain compliant with changing tax legislation.

Due to the high indirect tax management demand, there is a competitive market with many businesses offering a variety of goods and services.

Technological Advancements and Scientific Discoveries

SAP and Google Cloud Strengthen Partnership to Create Open Data and AI Future for Businesses

A comprehensive open data offering created to simplify data landscapes and unleash the power of company data. It was introduced by SAP SE and Google Cloud as part of a significant expansion of their cooperation.

Expanding its Global Tax Automation Portfolio, Vertex Acquires LCR-Dixon

The acquisition of LCR-Dixon Corporation, a specialist in SAP technologies, was announced by Vertex, Inc. and its subsidiaries. A customer’s ability to retain, analyze, and validate tax data in procure-to-pay and order-to-cash processes is improved by LCR-Dixon’s products. In SAP setups, tax complexity is made simpler by LCR-Dixon’s solutions.

Growth Motivators

The growing use of electronic accounting
Investing more in digital solutions

Challenges

Lack of consistency in tax laws

Key Segment

By Type:

Cloud-Based
On-Premise

By Application:

Banking Financial Services and Insurance (BFSI)
Information Technology (IT) and Telecom
Energy & Utilities
Healthcare
Government
Retail
Others

By Region:

North America
Asia Pacific
Europe
The Middle East and Africa
Latin America

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Global Auto-Injectors Market Expected to Reach US$ 67,200.1 Million by 2033, Driven by Rising Demand and Technological Advancements

The global auto-injectors market is experiencing a surge in demand, with a projected value of US$ 67,200.1 million by 2033, reflecting a healthy Compound Annual Growth Rate (CAGR) of 8.2% from 2023. This growth is attributed to several key factors:

Increasing Prevalence of Allergies and Chronic Diseases: Rising awareness of allergies and chronic conditions like diabetes and rheumatoid arthritis is fueling the demand for auto-injectors, which offer a convenient and safe method for self-administration of medication.
Growing Demand for Emergency Treatment: Heightened awareness of anaphylaxis, a severe allergic reaction, is leading to a greater need for auto-injectors such as EpiPens. This trend is supported by growing efforts from healthcare professionals and government bodies to ensure access to life-saving medications.
Technological Advancements: Continuous advancements in auto-injector technology are enhancing user experience and functionality, further propelling market growth.

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However, the auto-injector industry also faces some challenges:

Regulatory Hurdles: Stringent regulatory processes, particularly in developed markets, can create delays in the approval and market launch of new auto-injector devices.
Cost Concerns: The high cost of some advanced auto-injectors can be an obstacle for patients, especially in regions with limited insurance coverage. Addressing affordability and ensuring wider access to auto-injectors will be crucial for sustained market growth.

“The growing adoption of auto-injectors among healthcare experts is opening up intriguing possibilities for their application in diverse medical scenarios.”- says an FMI analyst

To further support this claim, medical experts are paying more attention to diseases like diabetes and rheumatoid arthritis as they realize the many benefits auto-injectors provide in terms of accurate and effective drug delivery.One other noteworthy potential is to broaden the auto-injector indications beyond allergy treatment. Increased research and development expenditures may also result in novel auto-injector designs and features, which could lead to the opening of new markets and uses.

The development of connected and smart auto-injectors is a major trend in the automotive industry. These gadgets improve treatment monitoring and patient engagement by sending usage data and patient information to healthcare providers. Furthermore, home-use auto-injectors are becoming more and more common, enabling patients to effortlessly administer their own prescriptions. Pharmaceutical companies and auto-injector manufacturers are working together to create co-branded devices for certain treatments, which guarantees precise and user-friendly drug administration.

Key Takeaways from the Auto-Injectors Market:

Prefilled auto-injectors dominate the market, commanding an impressive share of 86.30% in 2023.
The anaphylaxis indication Segment exhibits remarkable strength, capturing an overwhelming share of 88.7% in 2023.
The United States auto-injectors market boasts a substantial share of 29.10% in 2023.
Germany established a notable market share of 8.80% in 2023.
Japan claims a respectable market share of 1.60% in 2023.
Australia secures a significant market share of 5.60% in 2023.
China showcases its market prowess with a substantial share of 8.00% in 2023.
India also feels its impact with a substantial market share of 8.30% in 2023.

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Key Players in the Auto-Injectors Market Striving for Better Revenue Prospects

The auto-injectors industry boasts a highly competitive landscape with several prominent players vying for market share. Some notable participants include Becton, Dickinson, Company, Sanofi, Pfizer, Inc., Mylan N.V., and Novartis AG. These companies have established their dominance through innovative product offerings and strategic partnerships. Moreover, their extensive global presence enables them to cater to a wide range of therapeutic areas and patient populations.

Another key trend in the competitive landscape is the formation of strategic collaborations between pharmaceutical companies and auto-injector manufacturers. This collaboration results in co-branded devices for specific medications, ensuring precise and user-friendly drug delivery.

This approach has created a win-win situation, with pharmaceutical companies gaining a competitive edge by offering differentiated delivery solutions and auto-injector manufacturers benefiting from increased product demand. As the industry continues to evolve, these partnerships are expected to shape the competitive landscape further, driving innovation and expanding market reach.

Recent Developments in the Market:

Stevanato Group Signed an Exclusive Agreement for Aidaptus Auto-Injector: In May 2022, Stevanato Group signed an exclusive agreement with Owen Mumford Ltd. for its Aidaptus auto-injector. The Aidaptus auto-injector is designed for the self-administration of injectable drugs.
Antares Pharma Signed an Agreement for XYOSTED in the UAE and Saudi Arabia: In May 2023, Antares Pharma signed an agreement with Lunatus Global Medical Supplies for the distribution of XYOSTED, an autoinjector for the treatment of growth hormone deficiency, in the UAE and Saudi Arabia.
SHL Medical Acquires Weibel CDS: In May 2023, SHL Medical acquired Weibel CDS, a Swiss company that develops and manufactures autoinjectors. The acquisition may strengthen SHL Medical’s position in the autoinjector market.
Eli Lilly Invests in New Manufacturing Facility for Autoinjectors: In May 2023, Eli Lilly announced an investment of US$ 470 million in a new manufacturing facility for autoinjectors in Durham, North Carolina. The new facility is expected to be operational in 2025.
Ypsomed Launched a New Autoinjector Platform for Liquid Pharmaceuticals: In October 2022, Ypsomed launched a new autoinjector platform for liquid pharmaceuticals with capacities between 1.5 mL and 5.5 mL. The new platform is designed to be easier and more comfortable for patients.

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Key Companies in the Market:

Becton, Dickinson, and Company
Sanofi
Pfizer, Inc
Mylan N.V.
Novartis AG
Bayer AG
Janssen Global Services, LLC
Antares Pharma, Inc.
Amgen Inc
Eli Lilly and Company
Teva Pharmaceutical
Merck KgaA
GlaxoSmithKline plc
Ypsomed
SHL Medical
Gerresheimer AG
Midas Pharma GmbH
Aptar Pharma
Solteam Medical
Stevanato Group
E3D
West Pharmaceutical Services, Inc

Key Segments:

By Product:

Prefilled Auto-Injectors
Fillable Auto-Injectors

By Indication:

Anaphylaxis
Multiple Sclerosis
Rheumatoid Arthritis
Others

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Drug Stores

By Region:

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

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North America Sporting Goods Market Estimated to Reach US$ 336.32 Billion by 2033, Securing a CAGR of 8.5%

In 2023, the North America sporting goods market is registering a valuation of US$ 148.75 billion, projected to reach US$ 336.32 billion by 2033. Securing a CAGR of 8.5% during the forecast period.

Growth Factors:

Increasing Participation in Sports and Fitness Activities: The growing awareness of a healthy lifestyle has resulted in higher participation rates in sports and fitness activities, consequently driving the adoption of sporting goods.
Growing Popularity of Outdoor Recreation Activities: The rising preference for outdoor recreation has fueled demand for sporting goods such as camping equipment, bicycles, and hiking gear.
Rising Disposable Income: With an increase in disposable income, consumers are more inclined to invest in sports and fitness equipment, driving the growth of the sporting goods market.

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There has been a growing trend toward incorporating technology into sporting goods in recent years. It helps individuals to monitor and track their physical activity and progress toward their fitness goals.

This technology can help individuals stay motivated and engaged in their fitness routines. Healthcare professionals also help in tracking the progress of patients in rehabilitation or physical therapy programs. While the North America sporting goods market is not directly involved in helping patients, its products can promote physical activity.

Key Takeaways of Growth in the North American Sporting Goods Market:

Health and Wellness: Growing awareness of health benefits associated with physical activity fuels demand for fitness equipment, apparel, and footwear.
Rising Disposable Income: Increased discretionary spending in developing regions like Mexico contributes to market expansion.
Outdoor Activities: Increased participation in hiking, camping, and other outdoor pursuits drives demand for specialized equipment and apparel.
Athleisure Trend: Blending of athletic and casual wear creates a larger market for comfortable and stylish sportswear.
Technological Advancements: Integration of technology in sports equipment (e.g., smart fitness trackers) enhances performance and attracts tech-savvy

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Innovation in Sporting Goods by Key Players Upsurge the Market Growth

Key players play a crucial role to innovate products in the North America sporting goods market. Manufacturers constantly look for ways to improve their products through new materials, designs, or technology.

In recent years, we have seen a significant increase in the use of technology in sporting goods. For example, wearable fitness trackers, smart sports equipment, and virtual reality (VR) training systems have become increasingly popular. These technologies have helped to monitor physical activity and track progress toward fitness goals.

Another area of innovation has been using sustainable materials and manufacturing processes. Consumers are increasingly concerned about the environmental impact of the products they use. Therefore, many sporting goods manufacturers have responded by developing products made from eco-friendly materials.

Innovations in design have also played a role in the growth of the sporting goods market. Manufacturers are developing products that are functional but also stylish. They have further helped to expand the market beyond traditional sports enthusiasts to a wide audience.

Overall, innovation in sporting goods by key players has helped to drive market growth by changing the preferences of consumers. Technology advances and consumers become more environmentally conscious are expanding the market size further.

North America Sporting Goods Market- Major Players

Nike Inc., Adidas AG Under, Armour Inc., Puma SE, New Balance Athletics Inc., Columbia Sportswear Company, VF Corporation, Skechers USA Inc., ASICS Corporation, The North Face Inc., YETI Holdings Inc., Callaway Golf Company, Dick’s Sporting Goods Inc., Hibbett Sports Inc., Academy Sports + Outdoors

Recent Developments in the North America Sporting Goods Market

Nike: Nike has been focused on expanding its digital capabilities, including investing in mobile apps and e-commerce platforms. They have also been prioritizing sustainability to use 100% renewable energy across their operations by 2025.
Adidas: Adidas has been focused on innovation and sustainability. They have developed new materials, such as recycled polyester and are exploring 3D printing technology to create sustainable products. They have also invested in e-commerce and digital marketing to reach young consumers.
Under Armour: Under Armour has been focused on streamlining its operations and cutting costs after struggling financially in recent years. They have also invested in new technology and products, such as connected fitness devices and breathable fabrics.
Puma: Puma has been expanding into new markets, particularly in Asia. They have also been investing in sustainability to reduce their carbon footprint and use sustainable materials in their products.
Columbia Sportswear: Columbia Sportswear has been focused on expanding its product offerings beyond outdoor apparel and footwear. They have been investing in new technologies, such as breathable and waterproof fabrics, and expanding their direct-to-consume

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North America Sporting Goods Market by Category

By Distribution Channel:

Online
Offline

By Sports Type:

Racquet Sports
Ball Sports

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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Nandini Singh Sawlani

USA Bird Food Market Projected to Reach US$ 3,931.1 Million by 2033

In 2023, the USA bird food market size is estimated at US$ 3,011.0 million, projected to reach US$ 3,931.1 million by 2033, expanding at a CAGR of 2.5% from 2023 to 2033. Its share in the global pet food market, which ranges from 20% to 25%, solidifies its position as a significant player in the industry.

The demand for bird food is expected to experience rapid growth over the next decade, fueled by increasing bird adoption rates and the growing culture of pet ownership in the USA.

Additionally, heightened concerns regarding the feeding habits of bird adopters are anticipated to drive the demand for bird feeders throughout the assessment period. One of the key factors propelling this demand is the trend of humanizing birds, which is often accompanied by rising affluence among pet owners.

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They are hence prepared to invest more to guarantee that their dogs receive the best care available. The following are few of the main advantages of keeping a pet bird, according to bird owners:

Birds offer camaraderie, love, and affection (45%)
Happiness and emotional support (56%
Stress relief (62%)
Entertaining to watch and keep at home (50%)

For instance, more than 9 million families in the USA maintain birds as pets, which would further boost bird food sales in the nation. The same source also states that 14% of all respondents, including pet owners and non-pet owners, purchased a new pet during the epidemic.

At least 25% of new pet owners said the pandemic had an impact on their most recent pet purchase. It included dogs (47%), birds (46%), saltwater fish (60%), reptiles (27%), cats (40%), freshwater fish (34%), small animals (46%), and horses (27%).

Key Takeaways from the USA Bird Food Market Study

Top 5 bird food producers in the USA generated around 15% to 20% of share in 2022.
By product type, the sunflower seeds/hearts segment generated a share of more than 1% in 2022.
Based on price range, the under US$ 15 segment held more than 35% of total revenue in 2022.
In terms of sales channel, the indirect category accounted for 4% of total revenue in 2022.
Kaytee Products, Inc., Pennington Seed, Inc., and Wild Birds Unlimited, Inc. are top 3 USA-based bird food manufacturers.

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Competitive Landscape: USA Bird Food Market

Market players are increasingly focusing on introducing various initiatives to promote new products. Apart from product offerings, players are also providing services and recommendations to bird owners in terms of various bird food.

For instance, Des Moins Feed Co. Inc. actively assists its customers regarding bird feed supplies. It also helps them to choose a suitable food as per the age of birds. It helps the company to maintain a strong relationship with its customers and gain a new client base.

Leading players present in the USA bird food market are:

Kaytee Products, Inc.
Pennington Seed, Inc.
Wild Birds Unlimited, Inc.
Des Moins Feed Co. Inc.
GLOBAL HARVEST FOODS LLC.
M. Brown’s Sons, Inc.
Wagner’s LLC.
Hartz
Mars Inc.
Nestle SA

USA Bird Food Market Outlook by Category

By Product Type:

Sunflower Seeds/Hearts
Peanuts
Niger
Millet
Others (Suet, Mealworms)

By Price Range:

Under US$ 15
US$ 15 to US$ 25
US$ 25 to US$ 50
US$ 50 to US$ 75
Above US$ 75

By Sales Channel:

Direct Sales
Indirect Sales
- Hypermarkets/Supermarkets
- Specialty Stores
- Multi-Brand Stores
- Garden Centers
- Pet Stores
- Other Sales Channels

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

USA Beauty and Personal Care (BPC) Retail Vending Machine Market: Rapid Expansion at a 10.5% CAGR by 2033

The USA beauty and personal care (BPC) retail vending machine market size would surpass US$ 91.6 million in 2023, expanding rapidly at a CAGR of 10.5% from 2023 to 2033. Improving living standards and technological advancements are attributed to the growth, reshaping the market. By 2033, the USA beauty personal care (BPC) retail vending machine market would reach US$ 248.4 million, driven by ongoing advancements in technology.

Increasing adoption of smart vending machines would push BPC retail vending machine sales in the USA. The inclination toward ready-to-use and easily available beauty & personal care products would also aid demand.

Growing awareness about regular hygiene in the USA is also supporting the beauty personal care vending machine market share. Demand for ready-to-use grooming products would be supplemented by innovations in machine designs.

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Changing consumption patterns is another crucial factor for the USA market. Changes in designs and processes of vending machines would also elevate sales.

Reduced long-term maintenance costs have resulted in high demand for beauty and personal care retail vending machines. Key companies are investing millions of dollars each year in their stores and platforms.

They want to ensure that they deliver high-quality products in a timely manner. Backed by these factors, the USA market would surpass US$ 248.4 million by 2033.

Key Takeaways from the USA BPC Retail Vending Machine Market Study

In 2022, Nebraska held a significant revenue share of 6% in the USA BPC retail vending machine market.
The BPC retail vending machine market in New Hampshire would expand at a CAGR of 6% throughout the forecast period.
On the basis of temperature control, refrigerated BPC retail vending machines would surge at a robust CAGR of 14% by 2033.
By product type, free standing BPC retail vending machines generated a share of 1% in 2022.
In terms of payment method, the cashless segment currently holds a share of 7%.

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“To keep up with high demand, BPC retail vending machine manufacturers are developing new products in a variety of categories. Introduction of energy-efficient vending machines would propel the market.” – says an analyst.

Competitive Landscape: USA BPC Retail Vending Machine Market

Manufacturers are concentrating on boosting their research & development expenditure. They are opting for product innovations.

They are manufacturing small, streamlined, and fashionable BPC retail vending machines. Producers are also planning to launch new machines that would fit well in both huge rooms and exterior environments.

Key players present in the USA BPC retail vending machine market are:

S. Hughes Company Co., Inc.
Royal Vendors, Inc.
Digital Media Vending International, LLC
Seaga Manufacturing Inc.
Gilly Vending Inc.
Vendlife
Azkoyen Group
Crane Merchandising Systems
Fuji Electric Co., Ltd.
Guangzhou Reyeah Technology Co., Ltd.

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USA Beauty and Personal Care (BPC) Retail Vending Machine Market Outlook by Category

By Product Type:

Wall Mounted
Free Standing
Wheels or Appliance Casters

By Temperature Control:

Ambient
Combo
Refrigerated

By Selection Method:

Keypad
Touch Screen
Mobile App Based

By Payment Method:

Cash
Cashless

By Installation Site:

Airports
Subway Stations
Commercial Spaces & Institutional
Hotels & Resorts
Stadiums
Residential Community

About Consumer Product Division at Future Market Insights

The consumer product team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the consumer product industry, the team is happy to help with every business intelligence research and consulting requirement.

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

Automotive Performance Accessories Market Poised to Reach US$ 546.4 Million by 2033, USA Performance Accessories Market Drives Customization Boom

In 2023, the Automotive Performance Accessories Market worth US$ 352.9 million. The market is expected to reach US$ 546.4 million by 2033, expanding at a 4.5% CAGR throughout the forecast period. Automotive performance accessories play a crucial role in enhancing the overall performance, aesthetics and handling of vehicles.

The Automotive Performance Accessories industry in the United States is predicted to reach a market share of US$ 92.8 million by 2033, growing at a 4.7% CAGR.

The automotive performance accessory industry in the United States is expanding, catering to a diverse spectrum of automobiles, jeeps, and trucks. The infatuation with antique vehicles is strongest in the United States. Vintage car enthusiasts in the United States are dedicated to the preservation and restoration of automobiles, and they seek performance upgrades that improve the appearance and performance of these classic vehicles. Engine upgrades, suspension tweaks, and brake systems are just a few of the options available from firms who specialise in performance accessories. These vintage automobiles are auctioned at a premium price, which persuades car enthusiasts to maintain their vehicles up to date with the needed performance standards.

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Key Takeaways from the Automotive Performance Accessories Market:

The Automotive Performance Accessories industry in the United States is predicted to reach US$ 92.8 million by 2033, increasing at a 4.7% CAGR.
During the forecast period, the Automotive Performance Accessories industry in China is expected to reach a market share of US$ 109.2 million, securing a 4.7% CAGR.
The Automotive Performance Accessories industry in Japan is predicted to reach US$ 43.7 million by 2033, increasing at a 4.5% CAGR.
With a CAGR of 4.7% from 2022 to 2033, Exhaust system is expected to dominate the Automotive Performance Accessories industry.
With a market share of 62.3% from 2022 to 2033, Passenger car segment is expected to dominate the Automotive Performance Accessories industry.

How Does the Competition Look in the Automotive Performance Accessories Market?

The Automotive Performance Accessories industry has a highly competitive landscape, with a significant number of players vying for market share. Several significant participants in this industry comprise Tenneco Inc., Brembo, Robert Bosch GmbH, Continental AG, BorgWarner Inc., Mahle GmbH, Donaldson Company Inc., Holley Performance Products, Mitsubishi Heavy Industries, Ltd., Honeywell International Inc. among other companies.

The major companies are heavily spending in research and development efforts to create innovative and inventive goods with enhanced effectiveness, dependability and affordability. They are also focusing on expanding their product line and strengthening their distribution methods in order to fulfil shifting consumer expectations.

Tactical alliances and partnerships with other companies are becoming more common in the industry, allowing parties to leverage one another’s strengths and expand their market influence. Consolidation and mergers are being utilized by leading players to fortify their market standing and acquire entry to fresh markets.

Key firms are enhancing their distribution networks and developing local manufacturing facilities to increase their presence in these areas. In order to achieve a competitive advantage they are also focusing on providing cost-effective solutions to customers in these markets.

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Segmentation Analysis of the Automotive Performance Accessories Market

By Product Type:

Exhaust Systems

Headers
Mufflers
Oxygen Sensors
Exhaust Pipes

Suspension Parts

Suspension Bushing
Sway Bars
Shock Absorbers

Brakes

Brake Pads
Brake Rotors
Brake Caliper
Brake Lines
Brake Master Cylinders
Vacuum Pumps

Fuel Air & Intake Systems

Air Filters
MAF Sensor
Intake Manifold
Throttle Bodies
Fuel Filters
Spark Plugs
Fuel Injectors
Fuel Pumps

Transmission Parts

Clutch Pressure Plates
Flywheels
Torque Converters
Clutch Linkage

Power Adders

Turbochargers
Intercoolers
Nitrous Oxide Systems
Superchargers

By Vehicle Type:

Passenger Cars

- Compact
- Mid-Size
- SUV
- Luxury

Light Commercial Vehicles
Heavy Commercial Vehicles

By Sales Channel:

First Fit
Aftermarket

By Region:

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

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.

Contact Us:

Nandini Singh Sawlani

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Automotive Valve Spring Market to Reach US$ 5663.8 Million by 2033

The automotive valve spring market is projected to witness significant growth, with an estimated value of US$ 4093.6 million in 2023. It is expected to expand at a CAGR of 3.30% throughout the forecast period, reaching a market value of US$ 5663.8 million by 2033. The adoption of automatic valve springs is revolutionizing industrial processes due to various factors.

Industrial operations are increasingly demanding enhanced efficiency and reliability, which is driving the demand for automotive valve springs. These springs play a vital role in controlling valve movements in diverse industries such as automotive, oil and gas, aerospace, and manufacturing. By providing precise and consistent force, they optimize operational performance, minimize downtime, and ensure proper valve functioning.

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Automation of valve springs is particularly valuable in industries requiring high-speed and high-frequency valve actuation. Automotive valve springs offer rapid response times, enabling quicker valve opening and closing. This, in turn, improves production efficiency and allows for better process control, leading to enhanced quality and yield in manufacturing operations.

Moreover, the adoption of automotive valve springs contributes to increased safety and reduced human error in industrial processes. By automating valve actuation, the reliance on manual intervention is minimized, mitigating the risk of accidents and ensuring consistent operation. This is particularly important in hazardous environments or applications involving hazardous substances.

Despite challenges such as initial implementation costs and the requirement for skilled maintenance personnel, the automotive valve spring market benefits from favorable opportunities. The growing focus on process optimization, energy efficiency, and sustainability creates a conducive market environment. Additionally, the integration of advanced technologies like IoT and machine learning facilitates the development of smart valve spring systems, enabling remote monitoring, predictive maintenance, and real-time performance optimization.

In conclusion, the automotive valve spring industry is bringing about a transformative impact on industrial processes. These springs enhance operational efficiency, improve safety, and enable precise control across various sectors. With the integration of advanced technologies and the growing demand for enhanced performance, the market is expected to witness significant growth in the coming years.

Key Takeaways from the Automotive Valve Spring Market:

The automotive valve spring market in the United States is forecasted to achieve a valuation of US$ 623 million by 2033, displaying a steady CAGR of 3.30 %.
In the United Kingdom, the automotive valve spring market is projected to expand at a CAGR of 2.40 %, reaching a market size of US$ 259.5 million by 2033.
The automotive valve spring market in Japan is anticipated to reach a valuation of US$ 480.9 million by 2033, driven by a CAGR of 2.70 %.
The dominant segment in the automotive valve spring market is the Single Valve Spring system segment, projected to exhibit a strong market 2022 to 2033.
Within the automotive valve spring market, the automotive industry is set to dominate from 2022 to 2033.

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How Does the Competition Look in the Automotive Valve Springs Market?

The automotive valve springs market is characterized by fierce competition, as numerous players strive to secure their market share. Key participants in this industry include renowned companies such as Eaton Corporation, Mahle GmbH, Schaeffler AG, Umea Fahrwerksfedern GmbH, and Federal-Mogul LLC, among others.

To maintain a competitive edge, major players in the automotive valve springs market are actively involved in research and development endeavors. They are investing in the creation of innovative and technologically advanced products that offer enhanced performance, durability, and cost-effectiveness. These companies are also focused on expanding their product portfolios and strengthening their distribution networks to meet the evolving demands of customers.

Strategic alliances and collaborations with other firms are increasingly prevalent in the market. These partnerships enable participants to leverage each other’s capabilities and strengthen their market presence. Additionally, leading players employ consolidation and mergers to reinforce their market position and gain access to new markets. This trend is particularly noticeable in the automotive industry, as companies seek to expand globally and tap into emerging markets.

The automotive valve springs market is witnessing substantial growth in developing economies, particularly in countries like India and China. Key players are expanding their operations in these regions by establishing local manufacturing facilities and bolstering their distribution networks. This approach allows them to cater to the specific requirements of customers in these markets and offer cost-effective solutions, thus gaining a competitive advantage.

The competition in the automotive valve springs market is intense, with companies focusing on innovation, product expansion, and strategic collaborations. As the market continues to grow, players are actively seeking opportunities in emerging economies and emphasizing localized manufacturing and distribution to maintain their competitiveness in this dynamic landscape.

Segmentation Analysis of the Automatic Valve Spring Market

By Type:

Single Valve Spring
Dual Valve Spring
Variable Valve Spring

By Material:

Steel
Titanium Alloy
Composite Material

By Vehicle Type:

Passenger Cars
Commercial Vehicles
Motorcycles
Off-Road Vehicles

By Application:

Engine Valve train
Fuel Injection Systems
Exhaust Systems

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani