Market Research Blog – Page 3353 – New Product Development

Contact Center as a Service Market Eyes US$ 16 Billion by 2032, with 13.52% CAGR

The market for contact center as a service market would be worth US$ 4.5 billion in 2022 and US$ 16 billion by 2032, a CAGR of 13.52% over that time. The increased usage of cutting-edge contact center technologies, which organize client connections to improve customer experiences and the market’s functionality, maybe the cause of the market’s growth.

Market participants are creating cloud contact centers to enhance operational performance for users, which is projected to propel market expansion throughout the anticipated time frame. The market for contact centers as a service has expanded as a result of the rising popularity of cloud-based software as a service and AI-powered chatbots. An organization is introducing application programming interfaces.

Businesses may manage their customer interactions using the cloud thanks to the expanding Contact Centre as a Service (CCaaS) sector. Call routing, automatic call distribution, interactive voice response, and CRM interfaces are just a few of the features that CCaaS platforms provide.

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Businesses that require a high degree of customer service or those with significant call volumes, such as e-commerce corporations, financial institutions, and healthcare organizations, frequently employ CCaaS platforms. Several advantages are provided by CCaaS platforms, such as the capacity to scale up or down rapidly and simply, save expenses, and enhance customer support.

The most well-known CCaaS platforms are Genesys Cloud, Five9, and Amazon Connect. These platforms provide a variety of features and fee structures to accommodate the requirements of companies of different sizes.

The need for organizations to enhance their customer service offerings, the rising need for flexible and remote work solutions, and other reasons all contribute to the growth of the CCaaS market. Businesses may manage customer contacts across a variety of channels, such as voice, chat, email, and social media, using CCaaS platforms, resulting in a seamless and consistent customer experience.

Competition Analysis:
Key players in the global contact center as a service market include NICE, Evolve IP, Luware AG, 8×8, Talkdesk, Cisco Systems, and others. Recent developments in the industry include:

In July 2020, NICE LTD announced the launch of Real-Time Interaction Guidance, a solution powered by the company’s ENLIGHTEN AI platform. Based on predictive behavioral models, the solution offers determining and scoring agent behavior to boost customer satisfaction and enhance sales opportunity identification. The solution forms an integral part of NICE’s CXone platform

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Contact Center as a Service Market Segmentation:

By Function:

Interactive Voice Response (IVR) Contact Center as a Service
Multichannel Contact Center as a Service
Automatic Call Distribution Contact Center as a Service
Computer Telephony Integration (CTI) Contact Center as a Service
Reporting and Analytics Contact Center as a Service
Workforce Optimization Contact Center as a Service
Customer Collaboration Contact Center as a Service
Other Contact Center as a Service Functions

By Enterprise Size:

Contact Center as a Service for SMEs
Contact Center as a Service for Large Enterprises

By Industry:

Contact Center as a Service in BFSI
Contact Center as a Service in IT and Telecommunications
Contact Center as a Service in Government
Contact Center as a Service in Healthcare
Contact Center as a Service in Consumer Goods and Retail
Contact Center as a Service in Travel and Hospitality
Contact Center as a Service in Media and Entertainment
Contact Center as a Service in Other Industries

By Region:

North America
Europe
Asia Pacific
Latin America
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

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Fertilizer Additives: A US$ 1.76 Billion Solution for Boosting Crop Yields and Protecting the Environment

The fertilizer additive market is estimated to be worth US$ 1,167.62 million in 2023 and is projected to be valued at US$ 1,761.88 million in 2033. Between 2023 and 2033, the industry is expected to register a growth rate of 4.20%.

The increasing use of fertilizer additives for crop production, the overall growth of agricultural production worldwide, and the overall growth of the agriculture industry worldwide contribute to the market’s development. The growing concern towards yield enhancement has led to various formulations of fertilizers that incorporate unique fertilizer additives to impart necessary properties as per climate, soil type, and crop type across regions. This trend and typical usage formats significantly push the global fertilizer additive market.

The environmental impact of traditional fertilizers, such as nutrient runoff and water pollution, has raised concerns. Fertilizer additives can help reduce these adverse environmental effects by optimizing nutrient release uptake and reducing nutrient loss. The growing environmental concern driving the market demand. Fertilizer additives can improve the efficiency of nutrient uptake by crops, reducing the amount of fertilizer required for the same yield. This not only saves costs for farmers but also reduces the environmental impact of excess fertilizer application.

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The growing awareness among consumers about the environmental and health impacts of agricultural practices. This awareness has pushed producers and policymakers to seek more sustainable and environmentally friendly solutions, expected to drive the growth of the fertilizer additive market during the forecast period. The growing shift towards sustainable and regenerative agricultural practices has also increased the demand for fertilizer additives.

Key Takeaways

In 2022, the fertilizer additive market was valued at US$ 1,119.05 million.
Based on product type, the anti-caking agent segment is expected to account for a share of 54.6% in 2023.
Global fertilizer additive demand in China is predicted to account for a CAGR of 5.80% through 2033.
Fertilizer additive in the United States is expected to account for a CAGR of 2.60% between 2023 and 2033.
Japan is projected to expand by a value CAGR of 1.70% between 2023 and 2033.
By 2033, the fertilizer additive market in India is anticipated to record a CAGR of 7.90% during the forecast period.

“The rapidly growing agricultural sector, with a focus on food security and increased crop yields. are anticipated to drive the market growth during the forecast period.” says an Analyst at Future Market Insights (FMI).

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Competitive Landscape

The global fertilizer additives market depicts a fragmented competitive landscape due to numerous players in the market. The key players in the market have adopted innovative strategies like mergers, partnerships, and acquisitions to enhance their market presence and strengthen their market hold.

Clariant AG is a global specialty chemicals company that produces a range of additives for various industries, including agriculture. They offer products like AGRIFIX, designed to improve the stability and performance of granular fertilizers.
Solvay S.A. is a multinational chemical company that provides various solutions for agriculture. They offer products like TIXOSIL® and HYPHOS® that improve fertilizers’ flowability and anti-caking properties.
KAO Corporation is a Japanese chemical and cosmetics company. They produce a variety of fertilizer additives, including anti-caking agents and coating agents to improve the handling and release of nutrients from fertilizers.

Key Companies Profiled

Clariant AG
Arkema S.A
Dorf Ketal
ArrMaz
Timac Agro USA
Michelman, inc.
Hubei Forbon Technology Co Ltd
Fertibon Products Pvt Ltd
Chemipol SA
Neelam Aqua & Speciality Chem (P) Ltd

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More Valuable Insights Available

Future Market Insights offers an unbiased global fertilizer additives market analysis, providing historical data from 2018 to 2022 and forecast statistics between 2023 and 2033.

To understand opportunities in the fertilizer additives market, the market is segmented based on Product Type (Anti- Caking Agent, Dust Suppressor, Drying Agent, Granulation Agent, Others) by Application (N(Nitrogen), P2O5, K2O, Others), Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, the Middle East, and Africa).

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~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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Glass Growlers Market is Expected to Reach at a US$ 8.7 Billion by 2033 | FMI

The global glass growlers market is anticipated to reach a valuation of US$ 6.4 billion in 2023, driven by rising craft beer culture. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 3.2% between 2023 and 2033, and reaching a total valuation of approximately US$ 8.7 billion by 2033.

One of the major factors contributing to the growth of the glass growlers market is sustainability and reusability. In an era of increased environmental consciousness, consumers are actively seeking eco-friendly packaging options. Glass growlers, being reusable and recyclable, offer a sustainable alternative to single-use packaging like cans and plastic bottles. The eco-friendly aspect appeals to environmentally conscious consumers who want to reduce their carbon footprint and contribute to waste reduction.

Brewpubs, tasting rooms, and local breweries often offer craft beverages for takeaway, and glass growlers are an ideal packaging solution for this purpose. Consumers can purchase freshly brewed beer and other craft beverages in these containers, preserving the beverage’s taste and aroma for an extended period. The convenience of carrying home draft beer from their favorite establishments is a significant factor driving the demand for glass growlers.

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Manufacturers are continuously introducing innovative closure systems for glass growlers to ensure better sealing and preservation of the beverage’s freshness and carbonation. Flip-top lids, gasket closures, and swing-top mechanisms have become popular, providing consumers with a reliable and leak-proof container for their beverages.

Key Takeaways from the Market Study

Global glass growlers market was valued at US$ 58.0 billion by 2022-end.
From 2018 to 2022, the market demand expanded at a CAGR of 2.4%.
North America is expected to hold a dominant CAGR of 3.1% during the forecast period.
By sealing type, swing top segment is expected to constitute a CAGR of 3.1% in 2033.
On the basis of sales channel, online sales segment is expected to dominate the market with a CAGR of 3.1% in 2033.
From 2023 to 2033, glass growlers market is expected to flourish at a CAGR of 3.2%.
By 2033, the market value of glass growlers is expected to reach US$ 8.7 billion.

Personalization and branding opportunities, across the globe, is a major factor that is expected to propel the growth of the glass growlers market in the near future, remarks an FMI analyst.

Competitive Landscape

Prominent players in the glass growlers market are Berlin Packaging, LLC, Ardagh Group, Owens-Illinois, Inc., Drink Tanks Corporation, Alpha Packaging, Portland Growlers Company, William Croxsons & Sons Limited, Global Glass Solutions, Orange Vessel Co., GrowlerWerks, Inc., and Boelter Companies, Inc., among others.

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Recent Developments:

In 2022, GrowlerWerks, Inc. announced the launch of its new GrowlerWerks G4 Growler. The G4 Growler is a stainless-steel growler that features a vacuum insulation system that helps to keep beer fresh for up to two weeks.
In 2023, Global Glass Solutions announced the launch of its new line of glass growlers. The new line includes growlers in a variety of sizes and styles, including a growler with a built-in tap.
In the same year, Portland Growlers Company announced the launch of its new online store. The store sells a variety of growlers, growler filling stations, and other beer-related products.
In 2023, Boelter Companies, Inc. announced the launch of its new growler filling station. The growler filling station allows consumers to fill their growlers with fresh, cold beer from a variety of local breweries.
In the same year, Drink Tanks Corporation announced the launch of its new line of stainless-steel growlers. The new line includes growlers in a variety of sizes and styles, including a growler with a built-in handle.

More Valuable Insights Available

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

To understand opportunities in the glass growlers market, the market is segmented on the basis of sealing type (swing top, screw on, and others (gasket cap)), by product type (clear glass growlers, amber glass growlers, and green glass growlers), capacity (32 oz, 64 oz, 128 oz, others), and by sales channel (online sales, supermarket/hypermarket, independent stores, and breweries), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).

Key Segments Profiled In The Global Glass Growlers Market

By Sealing Type:

Swing Top
Screw On
Others (Gasket Cap)

By Product Type:

Clear Glass Growlers
Amber Glass Growlers
Green Glass Growlers

By Capacity:

32 Oz
64 Oz
128 Oz
Others

By Sales Channel:

Online sales
Supermarket/Hypermarket
Independent Stores
Breweries

Region:

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

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Nandini Singh Sawlani

Radiology Information System Market Expected to Reach US$ 2.2 Billion by 2032, Driven by Rising Demand for Medical Imaging

The global radiology information system (RIS) market is poised for significant growth, reaching an estimated US$ 2.2 billion by 2032. This projection reflects a compound annual growth rate (CAGR) of 7.9%, according to industry insights.

“The surging demand for computerized medical imaging is a key driver propelling the RIS market forward,” says FMI. RIS systems, which function as networked software solutions, play a crucial role in managing medical data and images within radiology departments. They streamline recordkeeping, billing, and workflow, while also offering comprehensive oversight of a patient’s radiology journey.

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Benefits of Radiology Information Systems (RIS):

Enhanced Workflow Management: RIS streamlines workflows, allowing radiology departments to operate more efficiently.
Improved Patient Care: RIS facilitates better patient care by providing a centralized platform for managing all radiology-related data.
Accurate Billing and Reimbursement: RIS ensures accurate billing and reimbursement for radiology services.

With the growing emphasis on improving healthcare efficiency and patient outcomes, RIS solutions are expected to witness continued adoption across radiology departments worldwide.

Growing Demand for Radiology Information Systems Driven by Chronic Diseases and Aging Population:

The radiology information system (RIS) market is experiencing significant growth due to several key factors. One major driver is the rising prevalence of chronic diseases like cancer, arthritis, cardiovascular disease, and diabetes. These conditions, often linked to modern lifestyles with increased fast food consumption and decreased physical activity, are leading to a surge in demand for diagnostic imaging procedures.

An aging population further contributes to the market expansion. As the global population ages, chronic diseases become more prevalent, driving the need for efficient and cost-effective healthcare solutions. Radiology information systems play a crucial role in streamlining workflows, optimizing resource allocation, and ultimately improving patient care.

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Furthermore, the expanding applications of RIS beyond traditional radiology are propelling market growth. The increasing adoption of minimally invasive procedures, which rely heavily on accurate and readily available diagnostic data, fuels the demand for robust RIS solutions.

This trend highlights the growing importance of RIS in today’s healthcare landscape. By providing efficient management of patient information, workflows, and diagnostic results, RIS empowers healthcare providers to deliver faster, more cost-effective, and higher-quality care.

Key Players:

Siemens Healthcare GmbH
Carestream Health
McKesson Corporation
Cerner Corporation
General Electric Company (GE Healthcare)
IBM Watson Health
Allscripts Healthcare, LLC
Epic Systems Corporation
Hologic, Inc.
MedInformatix, Inc.

Key Segments Covered in the Radiology Information System RIS Industry Survey:

By Product:

Integrated RIS
Standalone RIS

By Deployment:

Web-based RIS
Cloud-based RIS
On-premise RIS

By Region:

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

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Sodium Metabisulphite Market Set for Steady Growth: FMI Predicts 5.3% CAGR by 2028

A new decadal study presented by top research firm Future Market Insights studies the demand patterns, trends, and growth scenario of the global sodium metabisulphite market from 2022 – 2028. Market projections reveal revenue from the sales of sodium metabisulphite to reach a value of US$ 266.5 Million by 2028, up from an estimated US$ 159.1 Million by 2022 end. This is reflective of a CAGR of 5.3% during the forecast period.

Sodium metabisulphite is predominantly used in the food and beverages industry as a preservative in dried food products and to enhance the shelf life of fruit juices. However, Future Market Insights predicts demand for industrial grade sodium metabisulphite from the mining and water treatment sectors to surge in the near future. In the mining industry, sodium metabisulphite finds application as a reducing agent to remove cyanide. Sodium metabisulphite is also used in water treatment as an anti-chlor agent to remove chlorine and heavy metals from water prior to releasing it into natural sources.

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The textile industry utilises sodium metabisulphite as a bleach to brighten fabric and remove stains and it is also used in the paper and pulp industry as a bleaching agent. These wide applications of sodium metabisulphite have boosted demand across industries, upping revenue in the global market for sodium metabisulphite as a result.

Revenue from the Sales of Sodium Metabisulphite to Receive a Fillip Owing to Burgeoning Demand Across Industries

An increasing demand from the food and beverages industry is a key revenue growth driver for the global sodium metabisulphite market. Besides application as a preservative and to improve product shelf life, sodium metabisulphite is used as a dough softener in bakery products. Sodium metabisulphite finds application in the mining industry for cyanide detoxification in gold mining and also as a source of sulphur dioxide for the destruction of cyanide in the process of commercial gold cyanidation.

Over the years, several stringent laws have been imposed on gold extraction plants to completely eliminate cyanide and metal cyanide complexes before final discharge into the environment. This has increased the adoption of sodium metabisulphite in the mining industry.

As an anti-chlor agent, sodium metabisulphite removes chlorine from water and is extensively used in municipal and industrial water treatment facilities. With declining availability of fresh sources of water, rising levels of water pollution, and climatic changes, governments and global environment protection associations have implemented stringent regulations to conserve existing water resources and reduce water pollution. This has led to an increase in demand for sodium metabisulphite used in the chemical processing of water.

Manufacturers of Sodium Metabisulphite to Expand Production Capacity to Meet Rising Demand from End-use Industries

Rapidly growing demand from the mining and water treatment industries has pushed manufacturers of sodium metabisulphite to increase their production capacity to meet product requirements from multiple industries. A key trend being observed in the global sodium metabisulphite market is the increase in dependence on imports from China.

China is the leading producer and consumer of sodium metabisulphite given the easy availability of raw material in the country and presence of a large number of local manufacturers of sodium metabisulphite. Companies functional in the global sodium metabisulphite market find it convenient to import sodium metabisulphite at reduced prices from Chinese manufacturers. This is further expected to boost revenue growth in the global sodium metabisulphite market in the near future.

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Top Key Players in the Global Sodium Metabisulphite Market

Ak Kim Kimya Sanayi Ve Ticaret Anonim Sirketi
Aditya Birla Chemicals
BASF SE
Qingdao Tianya Chemical Co., Ltd
Yuanye Chemical Co., Ltd
Ineos Calabrian Corporation
Esseco Group S.r.l.
Grillo-Werke Aktiengesellschaft
Shandong Kailong Chemical Technology Development Co., Ltd.
Shanghai Jiading Malu Chemical Co., Ltd.
Meizhou Union Chemical Co., Ltd.
Tangshan Sanjiang Chemical Co., Ltd.

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:

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USA Percussion Massage Gun Market Set to Expand with a 4.4% CAGR by 2033

The estimated value of the percussion massage gun market in the USA stood at around $120.0 million in 2023 and is anticipated to hit approximately $184.6 million by 2033. Over the span of these ten years, the market is forecasted to grow steadily at a Compound Annual Growth Rate (CAGR) of 4.4%. Within the broader massage market, the USA percussion massage gun market holds a share ranging from 8% to 12%.

Top Trend Pushing Sales of Percussion Massage Guns in the USA

Low brand loyalty in the USA percussion massage gun market is driving manufacturers to diversify their product offerings.
Greater product penetration and increased rivalry are pushing manufacturers to create a wider variety of products to attract customers who value product variety.
Intense competition in the market is prompting companies to introduce new options that cater to diverse customer preferences.
Many manufacturers are shifting their focus from high-income groups to low and middle-income groups, leading to the development of a wide range of items with competitive prices.
Innovative strategies aimed at offering relatively low-cost products are expected to drive growth in the USA percussion massage gun market.
Companies are leveraging competitive pricing and innovative product development to capture market share in the increasingly competitive landscape.

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Key Takeaways from the U.S. Percussion Massage Gun Market:

The U.S. percussion massage gun market is expected to grow significantly from US$ 120.0 million in 2023 to US$ 184.6 million by 2033.
The U.S. percussion massage gun market is expected to grow at a CAGR of 4.4% from 2023 to 2033.
Canada’s percussion massage gun market is expected to grow steadily in the coming years due to the increasing popularity of massage guns among athletes, fitness enthusiasts, and people in developing countries who suffer from muscle pain.
The percussion massage gun market in the United Kingdom is expected to grow at a moderate pace in the coming years due to the increasing awareness of the benefits of massage guns, the growing popularity of fitness and wellness among consumers in growing countries, and the rising demand for portable and easy-to-use massage devices.
The percussion massage gun market in Germany is expected to grow steadily in the coming years due to the strong economy and the high penetration of e-commerce in developing countries.
The percussion massage gun market in Japan is expected to grow at a moderate pace in the coming years due to the increasing awareness of the benefits of massage guns, the growing popularity of fitness and wellness among consumers in growing countries, and the rising demand for portable and easy-to-use massage devices

Competitors Winning Strategies

Competitors in the U.S. percussion massage gun market are focusing on many strategies like investing in marketing their products to get more customers and make their targeted audience aware of the benefits of massage guns. They are also implementing more technologies and feature that helps customer to get a variety of products with different features so that they can choose which fits perfectly for them.

Therabody, Hyperice, Dr. Ho, Phoenix, Bob & Brad, Breo, Achedaway, and LifePro are some of the leading competitors in the U.S. percussion massage gun market.

Recent Developments

Therabody: Therabody announced its new PRO 4 model. The PRO 4 boasts a more powerful motor, a longer battery life, and a new app that lets users monitor their development.
Hyperice: Hyperice presented their Hypervolt GO model. The Hypervolt GO is a small, lightweight massage gun meant for on-the-go application.
Ho: Dr. Ho’s massage guns feature a unique oscillating head, and it is designed to provide deep tissue massage.
Phoenix: Phoenix is famous for its cheap massage guns that give excellent value for money.
Bob and Brad: Bob and Brad developed a massage gun series suited for the ordinary user. Their massage guns are simple to operate and give many settings to select from.

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USA Percussion Massage Gun Market Outlook by Category

By Product Type:

Spherical Head
Round/Cylindrical Head
U-Shaped/Double Head
Tower Head
Flat/Wolf Head
Meniscus Head
Thumb Head
Comb Head
Rubble Gas Head
Air Cushion Head
Others

By Application:

Back Massage
Deep Tissue Massage
Large Muscle Group Massage
Neck & Shoulder Massage
Muscle Shaping & Relaxation
Point Massage
Massage for Sensitive Body Parts
Others

By Battery Type:

Rechargeable
Replaceable

By Size:

Small Size/Handheld
Mid-Size/Professional
Large Size/Powerful

By End User:

Athletes
Chiropractor
Fitness Enthusiasts
Expectant Women
Others

By Sales Channel:

Direct Sales
Indirect Sales
- Specialty Stores
- Modern Trade
- Independent Departmental Stores
- Pharmacy Stores
- Online Retailers
- Wholesalers/Distributors
- Other Sales Channel

Author

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

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Mineral Wool Market is Expected to Reach at a US$ 23.0 Billion by 2033 | FMI

The global mineral wool market is anticipated to reach a valuation of US$ 15.1 billion in 2023, driven by rising demand from industrial applications. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.3% between 2023 and 2033, and reaching a total valuation of approximately US$ 23.0 billion by 2033.

One of the primary factors driving the growth of the mineral wool market is the increasing Construction Activities. There is a rising demand for energy-efficient and environmentally friendly construction materials, with rapid urbanization, population growth, and the need for sustainable building solutions. Mineral wool, with its superior insulation properties, is extensively used in residential, commercial, and industrial buildings to enhance energy efficiency, reduce heat transfer, and provide soundproofing. The growing emphasis on sustainable construction practices is expected to fuel the demand for mineral wool insulation.

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Rising environmental concerns and the need to reduce energy consumption have led to a greater emphasis on energy-efficient buildings. Mineral wool insulation helps improve the thermal performance of buildings, reducing the need for heating and cooling and thereby lowering energy consumption. The demand for mineral wool is expected to witness substantial growth, with increasing awareness of energy efficiency and the benefits of insulation.

Advancements in manufacturing technologies are expected to propel market growth. Innovations such as advanced fiberizing techniques and binder formulations have led to the development of high-quality mineral wool with improved thermal insulation and fire resistance properties. The advancements have resulted in enhanced product performance, better energy efficiency, and increased durability, thereby driving the adoption of mineral wool in various applications.

The rising awareness of environmental sustainability has fueled the demand for eco-friendly construction materials. Mineral wool is considered a sustainable option as it is made from natural or recycled materials. It is non-combustible, has low VOC emissions, and can be recycled at the end of its lifecycle. The demand for eco-friendly and sustainable insulation materials is expected to drive the growth of the mineral wool market.

Mineral wool finds extensive use in various industries such as automotive, aerospace, and manufacturing. In automotive applications, mineral wool is used for acoustic insulation, reducing noise and vibrations in vehicles. In the aerospace industry, it is used for thermal insulation in aircraft. The increasing industrial applications of mineral wool are expected to contribute to its market growth.

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Key Takeaways from the Market Study

Global mineral wool market was valued at US$ 14.5 billion by 2022-end.
From 2018 to 2022, the market demand expanded at a CAGR of 2.3%.
China is expected to hold a dominant CAGR of 4.2% during the forecast period.
By Type, the rock segment is expected to constitute a CAGR of 4.2% in 2033.
On the basis of Application, the construction segment is expected to dominate the market with a CAGR of 4.1% in 2033.
From 2023 to 2033, mineral wool market is expected to flourish at a CAGR of 4.3%.
By 2033, the market value of mineral wool is expected to reach US$ 23.0 billion.

Expansion of the automotive industry, across the globe is a major factor that is expected to propel the growth of the mineral wool market in the near future, remarks an FMI analyst.

Competitive Landscape

Prominent players in the mineral wool market are Compagnie de Saint-Gobain S.A., Johns Manville, Knauf Insulation, Korff Isolmatic GmbH, Owens Corning, Poly Glass Fibre Insulation, Rockwool International A/S, TechnoNICOL, URSA Insulation S.A, and ROXUL ROCKWOOL Technical Insulation, among others.

Recent Developments

In 2023, Uralita introduced a new range of mineral wool products with enhanced fire resistance properties. The products are designed to provide effective fire protection in various applications, including commercial buildings, industrial facilities, and transportation.
In 2022, Owens Corning introduced a new mineral wool insulation product called Thermafiber RainBarrier HD. The product is designed to provide enhanced thermal and moisture management performance in exterior wall systems, offering improved energy efficiency and water resistance.
In the same year, Rockwool invested in the construction of a new manufacturing facility in Romania. The facility is expected to support the company’s growth strategy and cater to the increasing demand for mineral wool insulation in the Eastern European market.

More Valuable Insights Available

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

To understand opportunities in the mineral wool market, the market is segmented on the basis of type (glass, rock, and slag), and by application (construction, transportation, industrial, residential, sound absorbers, emission control, acoustical, and fire-proofing), across five major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).

Key Segments Profiled In The Global Mineral Wool Market

By Type:

Glass
Rock
Slag

By Application:

Construction
Transportation
Industrial
Residential
Sound Absorbers
Emission Control
Acoustical
Fire-Proofing

Region:

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

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Unlocking Growth: Capitalize on the Booming Bioceramics and Hydroxyapatite Market with CAGR of 6.9% by 2028

The market for bioceramics and hydroxyapatite market is anticipated to continue to grow at a 6.9% CAGR over the course of the forecast period, with a strong long-term outlook (2022-2028). The aluminium oxide segment is anticipated to maintain its dominance and represent approximately 45% of the worldwide bioceramics and hydroxyapatite market. Due to improved characteristics including high mechanical strength and biocompatibility, hydroxyapatite, a bio-inert ceramic with these qualities, will continue to be a favoured component in the manufacturing of orthopaedic implants. Zirconia-based bioceramics are also widely utilised for dental implants, and it is anticipated that they will continue to represent a lucrative market niche in the overall bioceramics and hydroxyapatite market.

Healthcare organizations like to invest in hydroxyapatite since it interacts with the body’s living tissues to provide efficient solutions for bone formation. The scope of market growth for the worldwide bioceramics and hydroxyapatite market has been expanded due to the increasing use of hydroxyapatite in the healthcare sector. In 2017, the market for hydroxyapatite and bioceramics saw a year-over-year growth of 5.7%. The global market for bioceramics and hydroxyapatite is anticipated to reach US$ 3 billion by the end of 2022. By the end of 2018, North America and Europe are expected to hold a value share of roughly 60% of the global market for bioceramics and hydroxyapatite, and it is predicted that demand for these materials will grow moderately due to their use in dental and orthopaedic implants as well as other applications.

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Bioceramics are also known as medical ceramics as they are mainly used as an important component in the production of the dental and orthopedic implants. Bioceramics materials are mostly oxides, carbides or nitrides based. Preference for bioceramics continues to persist and they can be distinguished as biologically active, inert or resorbable depending on the material type. Aluminum oxide, zirconia, calcium phosphate (tricalcium phosphate, hydroxyapatite) and bioglass are witnessed to be some of the commonly used bioceramics across industries. Hydroxyapatite is a calcium phosphate bioceramic and is biologically active by nature. The natural human bone comprises 70% hydroxyapatite. Thus it has excellent biocompatibility. Hydroxyapatite also aids in the bone growth and promotes bone health. However, low mechanical strength of hydroxyapatite has constrained the application of hydroxyapatite to coat the metal implants to trick the body as the tissues will directly come in contact of bioceramics and hydroxyapatite instead of metal. Thus the implants can gain the strength of the metal and biological acceptability of bioceramics and hydroxyapatite.

Growing need for developing effective dental implants, hip, joints, and knee replacement devices are projected to fuel demand for bioceramics and hydroxyapatite over the forecast period. Production of implants per capita has further translated to an exponential market growth over the past decade.

There has been increase in percentage of ageing population which are prone to greater risk of diseases such as osteoarthritis, knee , joint and hip problems, tooth decay amongst others. Ageing population coupled with other factors such as increasing number of accidents, bad eating habits leading to tooth decay amongst others is projected to drive the demand for bioceramics and hydroxyapatite over the forecast period.

Attributed to enhanced biocompatibility, high mechanical strength, and chemical and thermal stability, bioceramics and hydroxyapatite are increasingly being used for orthopaedic and dental implants. Growing health concerns pertaining to the impact of the materials used for developing dental implants has led manufacturers to direct their investments towards utilizing titanium as an important component. However, lack of maintenance of titanium implants can result in corrosion of the implants. To offer improved patient care, the manufacturers are developing zirconia-based implants that are white colored ceramic material. These implants offer improved biocompatibility and are likely to encourage demand for bioceramics and hydroxyapatite in the healthcare industry.

Contrary to the factors boosting the market growth, availability of bioceramics and hydroxyapatite at premium prices and lack of awareness among consumers is likely to inhibit growth of the global bioceramics and hydroxyapatite market over the coming years. Also, lack of technological advancements in developing countries of Asia Pacific region there has been still been prevalence of metal-based implants which may hinder the bioceramics and hydroxyapatite market growth in the long run.

To remain in the forefront of the competitive market, leading market players are focusing on long-term partnerships with implant manufacturers, and expanding their regional footprints in the bioceramics and hydroxyapatite market. In-depth research and development have also been conducted for developing 3-D printing and artificial bones thus expanding the application area and product offerings for bioceramics and hydroxyapatite.

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Segmentation Analysis

On the basis of material type, the aluminium oxide segment is projected to retain its dominance in the global bioceramics and hydroxyapatite market throughout the forecast period, accounting for a value share of ~45% by the end 2018.
On the basis of type, bio-inert is expected to remain a leading segment in the global bioceramics and hydroxyapatite market, recording a CAGR of 6.8% over the forecast period. However, the bio-active segment is expected to witness higher growth rate in terms of value.
On the basis of application, sales of the bioceramics and hydroxyapatite is likely to remain concentrated for the development of the orthopaedic implants. However, other applications such as dental implants and implantable electronic devices are projected to witness significant growth over the coming years in terms of consumption.

Vendor Insights

The report highlights some of the top companies operating in the global bioceramics and hydroxyapatite market, which include

Morgan Technical Ceramics
CeramTec
Berkeley Advanced Biomaterials, Inc.
Kyocera Corporation
Cam Bio Ceramics BV
FLUIDINOVA
Premier Biomaterials
Plasma Biotal Ltd.
SofSera
Bonesupport AB

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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 ~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

Work Boots Market: Anticipated Growth to Strengthen Its Roots with a 9.2% CAGR by 2032

Between 2022 and 2032, the global work boots market is expected to grow steadily at a Compound Annual Growth Rate (CAGR) of 9.2%. By the year 2032, it is projected to reach a value of US$ 26.5 billion. As of 2022, the market is currently valued at US$ 11.03 billion.

Major Growth Drivers for Work Boots Market

Rapid industrialization, government initiatives, and advancements in sole technology are driving the growth of the work boots market.
Increased sales of work boots are observed in new regions due to expanding industries and government support.
Work boots market surveys indicate promising growth prospects fueled by the adoption of latest technologies across multiple industries.
Sensory and material-based technologies are expected to boost sales of work boots by enhancing safety and comfort for workers.
Emerging sole technologies designed to prevent slipping and absorb shock are gaining popularity, shaping the future of the market.
Companies are focusing on developing industry-specific boots tailored to the needs of workers, aiming to improve precision and productivity.

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Growth prospects of the market with the increasing industries in the multiple regions with the scope of future around the latest technology. New technology like sensory and material-based technology is anticipated to fuel the sales of work boots.

Key Takeaways from the Market Study

The work boots market is expected to increase with a market share of 25.0% in North America.
Europe is expected to account for 22.89% market share during the assessment year.
Based on material, the leather segment is expected to grow at a CAGR of 6.3% during the forecast period of 2022 and 2032. The growth prospects are attributed to non-conductivity that protects from fatal electric shocks, protection against punctures, falling objects, burns, cutting hazards, and extreme weather condition.
Construction segment has the highest market share in the work boots market in the application category, holding a market share of 4.95% by 2027. The higher growth is there because these shoes comes with qualities like impermeable, resistant to casting oils, concrete & fuels, no resistance loss, water resistance, and protection against chemicals

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“The latest sensor technology, artificial intelligence, nanotechnology, and mixed material for better grip are some elements used in the new boots. These boots and their success is going to define the future prospects for the work boots market. The companies are now working on producing industry-specific boots such as factory smart boots, outdoor work boots, and healthcare smart boots. Researchers and boot makers have developed “smart boots” for the healthcare industry.” says a Future Market Insights analyst.

Key Players Are:

Alpha Gripp
Mksafety
DKMILY DRY
Skechers
Timberland PRO
Wolverine
Columbia
Black Diamond Group
KEEN Utility
Reebok

Competitive Landscape

A new market research report on work boots states that as market rec recovers from the course of the pandemic, government and private players are investing in the industries to enhance its productivity and transform its workings. Therefore, higher adoption of industry worker gear is pushing the key player to make the boots more reliable, strong, and comforting.

Timberland Pro has introduced its new set of waterproof work boot that comes in different toe styles such as steel and composite toe. These are electrical hazard protection and blood-borne pathogen resistance. These boots have revolutionized the boot industry and have pushed the sales of work boots around the industrial spaces.
Indian company, Black Diamond Safety has introduced its safety shoes for the factory workers around the nation. The USP is the aggressive pricing of these shoes while not compromising with the safety checks available.
DKMILY DRY introduced its waterproof safety boots for men that comes in steel tow variants and are slip resistant, static dissipative and can be used on any construction site as the company claims them to be indestructible.
SureWerx, a leading global manufacturer of safety, tool & equipment products, announced recently that it has acquired MEGA Comfort International Inc. This will expand its sales and distribution channel for better sales.

Sole Technology

Talking of soles, the use of various kinds of toes are also prevalent, enabling the end user choose according to the industrial application. Multiple toe types and their description are following:

Steel Toe: The original kind of safety toe that has provided the protection in the industrial spaces for over 80 years.
Alloy Toe: Made from lightweight material such as titanium, aluminum , etc., Alloy toes are the new kind of toes used in the shoe and boots manufacturing that provides protection while being thinner and lighter than steel toe, similar in weight to composite toes while allowing for more toe room and better comfort.

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Work boots Market by Category

By Material

Leather
Rubber
Plastic
Waterproof
Polyurethane

By Product

Shoes
Boots

By Application

Construction,
Manufacturing
Oil & Gas
Chemicals
Transport
Mining
Food
Pharmaceutical

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

Super Generics Industry Analysis in Europe Poised for Steady Growth to reach US$ 14.2 billion by 2033, Fueled by Rising Healthcare Needs and Innovation

The super generics industry analysis in europe is estimated to reach US$ 11.6 billion by 2023, and is projected to reach US$ 14.2 billion by 2033, reflecting a steady growth trajectory at a CAGR of nearly 2.0% from 2023 to 2033. This market intelligence is according to a recent Super Generics Industry Analysis in Europe.

Super generics, also known as improved generics, offer a compelling alternative to traditional generics. They provide patients with additional benefits such as improved delivery systems, reduced side effects, or increased efficacy. These advancements are achieved through new technologies or improvements in formulation and manufacturing processes.

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Factors Driving Market Growth:

Rising Demand for Affordable Healthcare: Increasing healthcare costs are driving demand for cost-effective solutions like super generics.
Growing Prevalence of Chronic Diseases: The rising burden of chronic diseases like diabetes is creating a need for effective and accessible treatments.
Expanding Geriatric Population: The aging population in Europe is a significant factor influencing the demand for super generics, as they often require chronic medications.
Supportive Government Policies: Government initiatives promoting generic drug use are fostering market growth.
Technological Advancements: Innovations in drug delivery and formulation technologies are propelling the development of improved generics.

Challenges and Opportunities:

While the outlook is positive, the super generics market faces some hurdles. Stringent regulatory requirements can hinder market entry, while competition from traditional generics remains fierce. Additionally, raising awareness among healthcare professionals and patients is crucial for wider adoption.

Overcoming these challenges will unlock the full potential of the super generics market in Europe. Pharmaceutical companies that can navigate regulatory complexities, differentiate their offerings, and effectively communicate the value proposition of super generics are poised to lead this dynamic market.

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Key Takeaways – Super Generics Industry Analysis in Europe from 2023 to 2033

The Super Generics Industry Analysis in Europe is expected to reach US$14.2 billion by 2033, growing at a CAGR of 2.0% over the forecast period.
The anti-diabetic segment is expected to hold the largest market share in terms of value, followed by the cardiovascular and oncology segments.
Spain is expected to lead the Super Generics Industry Analysis in Europe, followed by France, Poland, and Germany.
Key drivers of the market growth include increasing government support for generic drugs, rising demand for affordable healthcare, and growing prevalence of chronic diseases.
Key challenges to the market growth include complex regulatory environment and stringent intellectual property laws.

Key Trends in the Super Generics Industry Analysis in Europe:

Some of the key trends driving the growth of the Super Generics Industry Analysis in Europe include:

Increasing focus on research and development: Pharmaceutical companies are investing heavily in research and development to develop new and innovative super generics.
Growing adoption of biosimilars: Biosimilars are a type of super generic that are similar to biologic drugs. They are gaining popularity in Europe due to their lower cost and comparable efficacy.
Expansion of the super generics portfolio: Pharmaceutical companies are expanding their super generics portfolio to include a wider range of therapeutic areas.
Government support: Governments in Europe are supporting the growth of the super generics market through various initiatives, such as tax breaks and subsidies.

Key Companies Profiled:

AbbVie
Sun Pharmaceutical Industries Ltd.
Endo International
Viatris Inc.
Dr. Reddy’s Laboratories Ltd.
Innovida Pharmaceutique
SERB Specialty Pharmaceuticals
Eagle Pharma
Novartis AG

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Key Segments Covered in the Europe Super Generics Space:

By Drug Class:

Antihistamines
Antimicrotubule Agents
Aryl Acetic Acid Derivatives
Atypical Antipsychotics
Anti-diabetic
Anti-Obesity Drugs
Calcium Channel Blockers
Corticosteroids
Fabric Acid Agents
GABA Analogs
Opioid Analgesics
Proton Pump Inhibitors
Retinoids
Others

By Route of Administration:

Oral
Topical
Parenteral
Others

By Indication:

Oncology
Cardiology
Diabetics
Neurology
- Migraine
- Epilepsy
- Alzheimer
- Pain Management
Gastroenterology
Dermatology
Analgesics & Anti-inflammatory
Weight Management
Ophthalmology
Others

By Distribution Channel:

Hospital
Specialty Clinics
Retail Pharmacies
Drug Stores
Online Pharmacies/ Mail Order Pharmacies

By Region:

Western Europe
Eastern Europe
Rest of Europe

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Nandini Singh Sawlani