Market Research Blog – Page 3394 – New Product Development

Almond Flour Market Poised for Nutty Growth at 8.3% CAGR: Invest in Gluten-Free & Health Trends | FMI

The almond flour market is projected to be valued at US$ 1.9 billion in 2023 and is expected to reach US$ 4.1 billion by 2033. The sales of throughout the projection period, almond flour is anticipated to register a noteworthy CAGR of 8.3%.

Customer tastes are shifting quickly as per capita incomes and living standards rise globally. The benefits of ingesting products made with almond flour are one of the main factors driving industry expansion. Global adoption of gluten-free diets is growing, which is driving market expansion. This is due to the rising prevalence of celiac disease, which can present with a host of symptoms including anemia, growth problems, bloating, gas, and diarrhea. Around the world, the Food and Beverage (F&B) business uses almond flour extensively to produce baked goods such cakes, cookies, bread, and pastries.

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This, combined with rising product employment in the personal care industry for creating various skin care products such as lotion and cream, results in a positive market outlook.

Other factors are anticipated to propel the sector, including the increased prevalence of lactose intolerance and the simpler accessibility of dairy-free products. Along with the growing tendency to purchase almond flour through online distribution channels, which offer simple product availability, wide catalogs, and speedy shipping alternatives, this is assisting in boosting the sector. Furthermore, in the upcoming years, protracted promotional campaigns and celebrity endorsements by product manufacturers on social media platforms are likely to positively impact almond flour sales.

Key Takeaways from the Almond Flour Market

With a projected 8.9% growth rate from 2023 to 2033, the category of blanched almond flour provided more than three-fifths of the market share for almond flour globally. The demand for blanched almond flour is progressively rising in developed countries, driving the segment growth. It is employed worldwide in various bakery goods, confectioneries, and hair and skin care products. The cosmetics industry is anticipated record a CAGR of 8.7%. Almond flour is frequently milled and can be used in various ways. It is becoming more popular as a gentle exfoliating ingredient in cosmetics and personal care formulations, expected to drive market growth in the coming years.
The United States dominates global almond production, accounting for more than 80% of the total crop and generating an estimated US$ 1.0 billion in revenue in 2023. Since California is the world’s leading producer and exporter of almonds, the industry is highly concentrated and reliant on a single region. The amount of rain that falls during the bloom period significantly impacts almond production.
The United Kingdom has a significant market share in Europe for almond flour, with a CAGR of 8.7%. Consumer preference for cooking at home instead of dining out, coupled with the on-the-go convenience trend, has fueled the growth of the country’s almond flour industry.
With a revenue of US$ 70.8 million in 2021, India is one of the world’s significant almond flour markets. A considerable population increased urbanization, and an expanding middle-class population is driving the market. In addition, the market is progressing due to the increased number of participants who have the opportunity and consumer health consciousness, particularly in urban regions.

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Competitive Landscape:

Companies are maintaining a competitive position in the market by pursuing inorganic growth strategies, such as partnerships, geographical expansion, and mergers & acquisitions.

Archer Daniels Midland Company, Olam International Limited, Barry Callebaut Group, Blue Diamond Growers, John B. Sanfilippo & Son, Borges Agricultural & Industrial Nuts, Savencia SA, Kanegrade Limited, Royal Nut Company, and Döhler GmbH are among the key players in the almond ingredients market. To meet the growing demand for almond ingredients, market players have adopted various business strategies such as expansions, new product launches, agreements, partnerships, collaborations, and acquisitions in recent years.

Almond Flour Market

By End Use:

Household
Food and Beverage
Industrial
Cosmetics
Dietary Supplements
Others

By Form:

Blanched
Natural

By Nature:

Organic
Conventional

By Distribution Channel:

Direct
Indirect
Pharmacy Stores
E-retailers
Specialty stores
Supermarkets

By Region:

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

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Exploring the Skies: Airport Retailing Market Set to Soar with a Projected CAGR of 11.7% by 2033

In 2022, the global airport retailing market was valued at US$ 26.83 billion and is anticipated to experience remarkable growth. By 2033, the market is expected to surpass a significant milestone, reaching over US$ 90.23 billion. This substantial growth trajectory represents a significant leap from its projected valuation of US$ 29.84 billion in 2023. Throughout this period, the market is forecasted to demonstrate a Compound Annual Growth Rate (CAGR) of 11.7%.

In today’s airports, airport commerce has grown indispensable. It offers a vast array of products and services. Its main objective is to make travel more enjoyable and convenient. It also functions as an effective marketing tool for companies. It makes a substantial financial contribution to airports, particularly those that host low-cost airlines.

The number of people using airports has significantly increased as a result of the increase in air travel worldwide. Airport merchants benefit greatly from this large increase in passenger volume. As a result, it creates more prospects for revenue generation and sales.

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Key Trends And Highlights of Airport Retailing Market

Surge in Air Passenger Traffic: The steady increase in global air travel has significantly contributed to the growth of the airport retailing market. As more individuals opt for air travel for both business and leisure purposes, the footfall in airports has surged, leading to higher sales in retail outlets located within airport premises.
Growing Inclination Toward Unique Experiences: Modern travelers are increasingly seeking unique and exotic holiday experiences. This trend has led them to explore diverse destinations, thereby increasing the demand for products and services offered at airport retail outlets, which often showcase local specialties and exclusive items.
Rising Disposable Incomes: With rising incomes and improved spending capacity among the middle and upper classes worldwide, travelers are more willing to indulge in shopping experiences during their airport layovers or upon arrival. This increased purchasing power has directly contributed to the expansion of the airport retailing market.
Evolving Consumer Preferences: Consumers today are more discerning and value experiences that align with their personal preferences and lifestyles. Airport retail outlets have responded by diversifying their product offerings to cater to a wide range of consumer preferences, from luxury brands to locally sourced products and unique souvenirs.
Escalating Demand for High-End Products: There is a growing demand from consumers for high-end and extravagant products, including luxury fashion items, premium electronics, and duty-free goods. Airport retail outlets capitalize on this demand by offering an array of upscale products, attracting affluent travelers and driving sales growth.
Ongoing Development of Airport Infrastructure: Continuous investments in airport infrastructure and amenities have enhanced the overall passenger experience, including shopping facilities. Renovations and expansions of terminal buildings often include the addition of new retail spaces, contributing to the expansion of the airport retailing market.
Travel as a Priority Expenditure: Travel is increasingly prioritized as a primary expenditure for many individuals, with a particular focus on exclusive luxury experiences and thrilling adventure activities. As a result, the number of travelers continues to rise, directly influencing sales at airport retail stores and further fueling the growth of the airport retailing market.

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Duty-free shopping remains a significant attraction for travelers. The term “duty-free” refers to products available at airports that are exempt from national taxes, duties, and certain local taxes. Airport retailers leverage duty-free regulations to provide competitive pricing. This appeals to customers who are seeking deals and savings. Travelers moving between countries primarily purchase duty-free items like liquors, tobacco, perfumes, fashion, and electronics.

Airports are also embracing the excitement of pop-up stores and temporary retail activations. By offering limited-time opportunities, airports create a sense of urgency and exclusivity, captivating customers’ interest and encouraging spontaneous purchases. Furthermore, airports are introducing experiential retail concepts, such as beauty consultations and product trials, elevating the overall shopping experience to new heights.

Key Takeaways from the Airport Retailing Market:

The airport retailing industry in the United Kingdom is anticipated to rise, exhibiting a CAGR of % through 2033.
The United States held a 28.4% share of the global airport retailing industry in 2022.
With a CAGR of 15.8% over the forecast period, India is predicted to develop rapidly in the airport retailing industry.
In 2022, Japan had a 5.3% share of the airport retailing industry globally
The airport retailing industry in China is expected to increase, registering a CAGR of 13.5% over the forecast period.
Germany accounted for 5.6% of the global airport retailing industry in 2022.

Competitive Landscape in the Airport Retailing Market

Key airport retail industry players are implementing various strategies to enhance their market position and drive growth. A few of these strategies are:

Demonstrating their commitment to customer convenience by opening new retail outlets in airports worldwide
Embracing diversity by offering a broad range of products to cater to the unique preferences of travelers
Engaging with customers through personalized marketing initiatives and social media campaigns
Expanding into duty-free and luxury segments to provide an unparalleled shopping experience
Forming strategic partnerships with renowned brands and retailers to enhance product selection and customer experience
Implementing innovative technologies to streamline the shopping experience
Prioritizing sustainability by incorporating eco-friendly practices

Recent Developments by Key Players

In May 2022, Gebr. Heinemann and Highsnobiety formed the joint venture GATE ZERO. This partnership combines Travel Retail expertise and global reach. It all started with a pop-up store by Highsnobiety at Zurich Airport. Now, it has evolved into a long-term partnership between the two companies.
In March 2019, Mydutyfree and Mumbai Duty Free, operated by Flemingo, announced a partnership. Mydutyfree offers a click-and-collect service for traveling shoppers. The collaboration aims to increase the visibility of Flemingo’s locations among Mydutyfree’s audience in Eastern Europe and the Middle East. The partnership aims to enhance the shopping experience for travelers in these regions.

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Key Segments of the Airport Retailing Market

By Category:

Fashion & Accessories
Perfumes & Cosmetics
Liquor & Tobacco
Food & Beverages
Others

By Distribution Channel:

Direct Retailer
Convenience Store
Specialty Retailer
Departmental Store

By Airport Size:

Medium Airport
Small Airport
Large Airport

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa
Europe

Author

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

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

About Future Market Insights (FMI)

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

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Furfuryl Alcohol Market on the Rise: Technological Advancements and Industrial Expansion Fuel Growth

The global furfuryl alcohol market is poised for significant expansion, with projections indicating a steady 5.9% compound annual growth rate (CAGR). Starting at US$ 1.0 billion in 2022, the market is expected to surpass US$ 1.5 billion by 2028. This growth trajectory underscores the increasing demand for furfuryl alcohol across various industries, driven by its versatile applications in resins, solvents, pharmaceuticals, and agricultural chemicals, among others. Factors such as technological advancements, expanding industrial sectors, and the growing emphasis on sustainable practices are likely to further fuel market growth in the coming years.

Furfuryl alcohol (C4H3OCH2OH), also known as 2-furylmethanol or 2-furancarbinol, is an organic compound containing a furan substituted with a hydroxymethyl group. Furfuryl alcohol is made from furfural by means of catalysis with hydrogen. It is colourless or pale yellow in appearance and finds adoption in various applications.

As a result, the global market for furfuryl alcohol is expected to witness significant growth in 2018, reaching a market value of US$ 836.2 Mn with a y-o-y growth rate of 4.5% as compared to 2017. Furthermore, the global demand for furfuryl alcohol will also be influenced by the rising utilisation of the chemical in pharmaceutical solvents and wood impregnation.

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The strong shift towards the development of bio-based chemicals against the backdrop of volatile petrochemical prices is expected to remain a key driver for the growth of furfuryl alcohol market. Predominantly, over the years, the consumption of furfuryl alcohol in foundry resins has reached an unprecedented level, owing to the physical and chemical properties possessed by furfuryl alcohol. Increasing industrial production, relatively stable economic conditions and consistent growth in automotive sales in various regions such as India, SEAP and China are the factors estimated to drive the growth in the demand for furfuryl alcohol.

In the recent past, the furfuryl alcohol market has witnessed significant developments from the competition perspective. Production capacity expansion and commencement of production are some of the preferred strategies opted by prominent players to sustain and enter in the global furfuryl alcohol market.

Based on the application, the foundry resin segment is expected to remain dominant in terms of the global furfuryl alcohol market volume share and account for approximately an 88.6% share by the end of 2028.

Based on source type, corn cob raw material is expected to remain behemoth in the global market and account for more than 86% of the revenue by 2028-end. Corn cob is one the most consumed raw materials in the production of furfural and then, furfuryl alcohol.

On the other hand, the production of furfuryl alcohol from sugarcane bagasse is expected to grow at a CAGR of 6.4%. In terms of growth, bagasse will remain one of the most attractive segments. Importantly, sugarcane bagasse has a yield just next to that of corn cob.

In 2017, China was the most attractive region in the global furfuryl alcohol market and accounted for more than 61.3% of the global market share. Further, being at the forefront in terms of furfuryl alcohol production and consumption, China is pegged to control the global furfuryl alcohol market in the future as well.

The increasing demand for furfuryl alcohol has influenced prominent manufacturers to expand their production facilities. In India, various manufacturers are poised to start the production of furfuryl alcohol on account of the anticipated demand rise in the coming years.

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Top Key Players in the Furfuryl Alcohol Market

KRBL Limited
China XLX Fertilizer Ltd.
Aurus Specialty Company Limited
Hongye Holding Group Corporation Limited
Xingtai Chunlei Furfuryl Alcohol Co., Ltd.
Zhucheng Taisheng Chemical Co., Ltd.
Zibo Donghai Industrial Co., Ltd.
DynaChem, Inc.
International Furan Chemicals B.V. (IFC)
Shijiazhuang Worldwide Furfural and Furfuryl Alcohol and Furan Resin Co., Ltd.
Silvateam S.p.a.
Illovo Sugar (Pty) Ltd.
Zibo Huaao Chemical Co., Ltd.

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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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Mining Shovels: The Powerhouses of Unearthing Progress

Mining shovels are the burly giants of the mining industry, tirelessly scooping and loading colossal amounts of earth, rock, and minerals. These essential machines play a crucial role in extracting the raw materials that fuel our modern world. The mining shovel market is experiencing a dynamic shift, driven by factors that demand innovation and adaptation.

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Growth Factors

While the mining shovel market faces challenges, several key factors are driving growth:

Rising Demand for Critical Minerals: The growing demand for minerals essential for renewable energy technologies and electric vehicles is creating opportunities for specific sectors of the mining shovel market.
Focus on Sustainability: Mining companies are under pressure to adopt sustainable practices. Manufacturers are developing more fuel-efficient and environmentally friendly mining shovels.
Emerging Markets: The development of mining projects in emerging economies is creating a demand for reliable and cost-effective mining shovels.

Opportunities: Digging Up New Possibilities

The dynamic market presents exciting opportunities for various players:

Manufacturers: Developing innovative mining shovels with features like higher capacity, automation capabilities, and fuel efficiency will be crucial for capturing market share.
Technology Providers: Developing advanced automation and data analytics solutions for mining shovels can be highly lucrative.
Service and Maintenance Companies: Providing comprehensive service and maintenance solutions for mining shovels will be crucial for ensuring optimal equipment performance.
Rental Companies: Offering a flexible rental model for mining shovels can cater to temporary project needs and smaller mining companies.

The global mining shovel market size is likely to be valued at US$ 8.0 billion in 2023. The increasing demand for infrastructural development and construction activity is driving market growth. The market is estimated to garner US$ 10.4 billion in 2033, recording a CAGR of 2.7% from 2023 to 2033.

The patchouli oil market is expanding, driven by a surge in demand for natural ingredients in cosmetics and personal care products

Unveiling Patchouli Oil market From Ancient Aromatics to Modern Demand – Exploring the Growth Journey from US$ 75.3 Million to $101.4 million with a 3% CAGR in the worldwide market by 2033.

The oil is made from the well-known essential oil of patchouli, which comes from the mint family plant Pogostemon cablin. The oil is well known for its unique scent, which is earthy, musky, and slightly sweet. Many diverse cultures have used patchouli oil for its therapeutic and aromatic properties since ancient times. Due to customer demand for natural and organic products in the personal care, cosmetics, and fragrance industries, the patchouli oil industry has experienced tremendous expansion in recent years.

The global patchouli oil market is projected to expand at a compound annual growth rate (CAGR) of 3% during the forecast period, according to FMI’s estimation. The industry is predicted to have increased from US$ 75.3 million in 2023 to US$ 101.4 million by the end of 2033.

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Patchouli oil is increasingly being used for skin health in the personal care and cosmetics industry, which is expected to promote market expansion. The use of patchouli oil in the regeneration of skin cells is well documented. The essential oil is crucial in the fight against bacteria and germs that can cause acne, pimples, and other skin problems. Therefore, it is anticipated that the growing worries about beauty among the general public, particularly among females, will positively impact the patchouli oil industry.

Over the course of the projected period, market expansion is anticipated to be supported by the widespread use of patchouli essential oil to repel a variety of insects, including fleas, ants, house flies, mosquitoes, and other pests. The medicine is also recommended to treat impotence and increase libido due to its potent aphrodisiac qualities. Due to its energising earthy scent, the aromatic oil also finds use in shampoos, deodorants, oils, liniments, topical lotions, and laundry detergents, among other things.

Key Highlights of the Patchouli Oil Market:

The United States market is projected to lead in the forthcoming years as well. By 2033, the market is estimated to attain US$ 22 million, expanding at a CAGR of 2.6%.
India is expected to hold a significant market share in Asia Pacific region, reaching a market valuation of US$ 9 million by the end of the analysis period. From 2023 to 2033, the market is expected to record a CAGR of 2.6%.
China patchouli oil industry is expected to grow at a rapid pace, exhibiting a CAGR of 4.1% over the forecast period. By the end of 2033, the market is projected to reach US$ 6.7 million.
In Europe region,, Germany is assessed to be a significant market for patchouli oil. The market is slated to reach US$ 6.3 million by 2033, registering a CAGR of 2.5% in the next 10 years.
The United Kingdom market is expected to reach US$ 4.1 million by 2033, exhibiting a 2.6% CAGR in the meantime.
Rising demand for conventional patchouli oil due to its affordability and easy availability is projected to boost the segment growth. The segment is predicted to expand at a CAGR of 2.8% over the forecast period.

New Developments in the Field of Cosmetics and Personal Care to Boost the Demand for Patchouli Oil:

With the launch of 82°E, a skincare and wellness brand, founded by Deepika Padukone and Jigar K Shah, the actress has ventured into beauty and skincare segment. The brand, in November 2022, introduced Patchouli Glow Sunscreen containing SPF 40, and Ashwagandha Bounce, which is a revitalizing moisturizer.
In March 2022, Givaudan Active Beauty introduced Patchoul’Up™, which is a 100% upcycled active ingredient for scalp and hair. The product helps in eliminating dry flakes, normalizing scalp microbiome, and rebalancing sebum production for overall well-being.

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Global Patchouli Oil Market Segmentation

Analysis by Product Type:

Light Patchouli Oil
Dark Patchouli Oil

Analysis by NatureL:

Organic
Conventional

Analysis by Extraction Process:

Steam Distillation
Hydro Distillation

Analysis by End Use:

Cosmetics and Personal Care
- Hair Care
- Skin Care
- Perfumes and Fragrances
Aromatherapy
Food and Beverage Industry
Pharmaceuticals
Others

Analysis by Distribution Channel:

Direct
Indirect
- Specialty Stores
- Drug Stores
- E-Retail

Analysis by Function:

Anti-inflammatory
Anti-depressant
Flavoring Agent
Mood-harmonizer
Deodorizing
Others

Analysis by Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific
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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Growing Demand for Preterm Care Propels Neonatal and Fetal Monitors Market to 14.4 Billion by 2032

The global neonatal and fetal monitors market is poised for significant growth, reaching an estimated value of US 14.4 Billion by 2032. This surge represents a CAGR (Compound Annual Growth Rate) of 6.5%, driven by a rising demand for advanced monitoring solutions in caring for preterm newborns.

Fetal and Neonatal Monitors: Essential Tools for Pregnancy and Childbirth

Fetal monitors play a vital role in obstetrics and gynecology, offering continuous monitoring of fetal health during labor and delivery. Neonatal intensive care units (NICUs) heavily rely on sophisticated neonatal monitors specifically designed to address the unique needs of premature and critically ill newborns. These monitors provide crucial insights into fetal heart rate, uterine contractions, and other vital signs during pregnancy and childbirth.

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Key Drivers Fueling Market Growth

Technological Advancements: The market is experiencing a significant boost due to continuous advancements and innovations in monitor technology. These advancements are leading to more precise and user-friendly devices, driving up demand.
Rising Pregnancies with Multiples: The growing use of assisted reproductive technologies is resulting in an increase in twin and triplet births, which are more likely to be premature. This trend is expected to further propel the demand for neonatal and fetal monitors.
Focus on Reducing Neonatal Mortality: Healthcare authorities, particularly in developing nations, are actively implementing initiatives to raise awareness and improve neonatal care practices. This focus on reducing newborn mortality rates is contributing to the market’s expansion.
FDA Approvals: The US Food and Drug Administration (FDA)’s approval of new and advanced neonatal and fetal monitors is expected to significantly impact market growth by fostering the adoption of these life-saving technologies.

A Promising Outlook for Neonatal and Fetal Monitors:

The combined effect of these factors paints a promising picture for the future of the neonatal and fetal monitors market. As technology continues to evolve and the focus on improving neonatal care intensifies, this market is anticipated to witness substantial growth in the years to come.

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Competitive Analysis

By Prominent Market Players

Koninklijke Philips N.V.
GE Healthcare
Medtronic PLC
Becton, Dickinson and Company
Spacelabs Healthcare
Drägerwerk AG & Co. KGaA
Siemens Healthineers
Phoenix Medical Systems
Analogic Corporation
Masimo Corporation

Neonatal and Fetal Monitors Market: Segmentation

By Product:

Fetal Monitoring Devices
- Heart Rate Monitors
- Uterine Contraction Monitor
- Pulse Oximeters
- Others
Neonatal Monitoring Devices
- Cardiac Monitors
- Capnographs
- Blood Pressure Monitors
- Pulse Oximeters

By End User:

Hospitals
Neonatal Care Centers

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About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Smart Home Appliances Market: Projected Growth at a 7.9% CAGR by 2033

In 2023, the global smart home appliances market is anticipated to reach a value of US$ 37.73 billion. The demand for these products is being propelled by various factors, including the increasing adoption of smart home technology, a rise in home renovation activities, and rapid advancements in IT and wireless communication.

Over the period from 2023 to 2033, the overall demand for smart home appliances is predicted to grow at a Compound Annual Growth Rate (CAGR) of 7.9%. By 2033, the market is expected to reach a total valuation of approximately US$ 80.71 billion.

In the last few years, smart home idea changed from just science fiction to become real. Smart home gadgets are changing how we live thanks to technology.

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The smart home appliance market has seen big changes and improvements. From smart thermostats to security devices that you can control with your voice, it’s caused a lot of growth over time.

The market for smart home gadgets has grown really fast because of the spread of high-tech stuff like artificial intelligence (AI). These technology improvements have allowed the addition of smart parts into many machines.

People are paying more attention to sustainability and saving energy, which makes them want smart home appliances that save power.

Drivers Underpin Smart Home Appliances Industry Expansion

Technological advancements integrated into homes are driving industry growth forward.
Manufacturers continuously innovate and refine smart home appliances to meet the needs of tech-savvy consumers seeking convenience.
Brands have been enhancing smart automation and incorporating high-tech features for smart homes.
Digital smart controls and voice-controlled lighting with customizable settings are expected to attract millennial customers.
However, the high costs associated with technological advancements may impede industry development.
The increasing preference for smart home appliances in emerging economies like China and India is anticipated to be a significant demand driver.
The growing purchasing power of consumers is also likely to contribute to market expansion.
Major brands are offering a wide range of products tailored to the preferences of millennials and Gen-Z, creating numerous growth opportunities.
For instance, LG introduced an Auto Smart Connect top mount refrigerator with 260 liters capacity, featuring multiple functionalities such as auto-connect with inverter and smart diagnosis.

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Key Takeaways:

The smart home appliances industry in the United States was predicted to hold a value share of 32.9% globally in 2022.
The smart home appliances market in the United Kingdom is projected to be expanding at a CAGR of 8.5% from 2023 to 2033.
During the forecast period, the market for smart home appliances in China is expected to secure a 10.3% CAGR.
The value share of the smart home appliances industry in Japan was estimated to reach 4.5% in 2022.
India’s smart home appliances industry is predicted to move forward at a 12.8% CAGR during the forecast period.

Key Players:

Whirlpool Corp
LG Electronics
Haier Group
Samsung Electronics Co. Ltd.
Panasonic Corp.
BSH Hausgeräte GmbH
Electrolux AB
Koninklijke Philips N.V
GE Appliances
Xiaomi Corp.

What is the Structure of Competition in the Smart Home Appliances Market?

The competition in the smart home appliances industry is highly dynamic and competitive, with several key players vying for market share.

The market is characterized by intense rivalry among established companies, as well as emerging players.

These companies compete on various factors, including product innovation, technological advancements, pricing strategies, distribution networks, and brand reputation. Moreover, the market is witnessing increasing collaborations, partnerships, and acquisitions among companies to strengthen their market position and expand their product portfolios.

Market players are focusing on enhancing their customer relationships by providing efficient after-sales services and personalized solutions. The competition is further intensified by the continuous introduction of new products and features, creating a constant need for innovation and differentiation.

Overall, the competition in the smart home appliances industry is robust, driving companies to strive for excellence and cater to the evolving demands of tech-savvy consumers.

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Major Segmentation Analysis:

By Product:

Smart Washing Machines
Smart Refrigerators
Smart Air Purifiers
Smart TV
Other Smart Home Appliances

By Distribution Channel:

Online Sales of Smart Home Appliances
Offline Sales of Smart Home Appliances

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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

Emerging Markets Drive Demand: Zinc Chloride Market Set for US$ 505.6 Million Surge by 2033

By 2023, it is anticipated that the size of the global zinc chloride market will be worth US$ 309.6 million. Throughout the anticipated period, the market is anticipated to surge at a CAGR of 5.0%. By the end of the forecast period 2023 to 2033, a market value of US$ 505.6 million is predicted.

Demand for zinc chloride is expected to rise as a result of expansion in a number of sectors, including chemicals, medicines, and agriculture. These sectors rely substantially on zinc chloride due to the variety of manufacturing techniques and product compositions it is used in.

Demand for consumer goods and infrastructure development in emerging nations is being fueled by growing populations and rising disposable income levels. Batteries, textiles, rubber, and plastics- all vital components of numerous consumer goods and building materials, are produced with the help of zinc chloride.

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Demand for renewable energy technology is rising as environmental laws and a focus on sustainable energy sources become more prevalent. Zinc chloride is a crucial component in the renewable energy sector since it is used in the production of solar cells and other energy storage devices.

To fulfill the rising need for food, the agriculture sector is transitioning to more efficient and sustainable farming methods. Widely used in fertilizers as a micronutrient, zinc chloride promotes healthy plant growth and increases agricultural yields. Demand for zinc chloride is anticipated to increase as agricultural activities expand to meet the world’s food needs.

Growing demand for zinc chloride is probably due in part to ongoing research and development efforts to find new uses for it. Zinc chloride is being used in a variety of disciplines, including medicine, electronics, and water treatment.

Scientists and engineers are continuously looking for new and creative applications for it. It is projected that these developments would expand market prospects and increase demand for zinc chloride globally.

Demand will also be pushed by growing awareness of and adoption of zinc-based products in the healthcare and personal care sectors. A multitude of medicines, ointments, lotions, and cosmetic goods are made with zinc chloride.

Due to its antibacterial qualities, it is a useful component in antiseptics, wound care treatments, and oral hygiene products. Sales of zinc chloride, a crucial ingredient in these formulations, are anticipated to increase along with high demand for healthcare and personal care products, which is likely to continue to climb globally.

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Key Takeaways from the Zinc Chloride Market Study:

The global zinc chloride industry witnessed a CAGR of 1% during the historical period from 2018 to 2022.
India zinc chloride industry is set to create an absolute dollar opportunity of more than US$ 25 million in the next ten years.
China zinc chloride industry is anticipated to create an absolute dollar opportunity of more than US$ 40 million by the end of the forecast period.
Based on grade, the high purity segment is expected to expand at 9% CAGR from 2023 to 2033.
Chemical end-use sector segment is estimated to generate revenues of over US$ 50 million throughout the evaluation period.

“Color cosmetic products such as eyeliners, eyeshadow, and mascara are made using zinc chloride. Owing to its binding properties, pigments on the skin adhere better and last longer. In order to provide a smooth application and improved wear, zinc chloride can additionally help to the general stability and texture of cosmetic compositions. It is set to create new opportunities in the global market.” – Says a lead analyst at Future Market Insights (FMI).

Competitive Landscape

A small number of manufacturers represent about half of the market share in the modestly consolidated global zinc chloride market. These players outperform their rivals in terms of production capacity. As a result, they are a leading producer and exporter of zinc chloride worldwide.

Important market players are also using a variety of techniques to increase their profits. Focusing on lowering carbon emissions in order to support sustainability objectives is a well-known method. With this strategy, important firms might improve their market standing while also preserving the environment.

Smaller market participants, in contrast, place a higher priority on raising their production capacity to fulfill the expanding regional demand. To increase their sales outside of local markets, they are currently focusing on export-driven markets. Small firms can expand their market share and sales potential by entering new markets and forging supply chain agreements with end users.

For instance,

Toothpaste infused with zinc salt was developed by Unilever, a prominent brand in the personal care goods sector, in March 2021. It guarantees to lower blood pressure and improve nitrate reductase activity.

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Top Key Players in the Global Zinc Chloride Market

Zaclon LLC
Costal Zinc Group
Jinzhou Jitian Zinc Industry Co., Ltd.
Weifang Dongfangsheng Chemical Co., Ltd.
Lipmes SA
HaloPolymer OJSC
Tianjin Nanping Chemical Co., Ltd.
TIB Chemicals
Flaurea Chemicals
Vap Industries

Get More Valuable Insights into the Zinc Chloride Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global zinc chloride industry, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on grade (high purity grade, battery grade, technical grade, and commercial grade), form (powder and liquid), end-use sector (electronics, chemical, agriculture, pharmaceuticals, and others), and regions.

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Macroalgae Market Poised to Reach US$ 18.3 Billion by 2033 with 7.8% CAGR, Driven by Growing Demand for High-nutritional Food Products

According to Future Market Insights (FMI), the worldwide Macroalgae market is valued at US$ 9,302.6 million in 2023 and it is anticipated to reach US$ 18,305.1 million by 2033. Over the next decade, global Macroalgae demand is likely to increase at a CAGR of 7.8%.

Macroalgae or seaweed refers to large, multicellular species of algae. They have gained wider traction amongst consumers due to their several applications across a wide range of sectors. Macroalgae also play a crucial role in capturing carbon and producing oxygen.

Macroalgae is rich in proteins and other essential nutrients. As a result, manufacturers are finding increased demand across the food & beverage industry. Rising preference for high-nutrition foods globally is expected to stimulate growth in the macroalgae industry.

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Various species of macroalgae have a high relative abundance of long-chain polyunsaturated fatty acids (PUFA). These are essential components in human and animal nutrition.

The potential applications of macroalgae in pharmaceutical, food, nutraceutical, and cosmetics sectors due to their biologically active and regenerative properties will boost the market.

Growing usage of macroalgae in cosmetic and personal care products will elevate demand in the global market. Macroalgae contain minerals such as calcium, manganese, potassium, zinc, etc. It possesses anti-inflammatory, antioxidant, and detoxifying properties. As a result, it is being used in various cosmetics products.

The market is also anticipated to expand as a result of the quick development of novel strains and scientific developments that can withstand high salinity and boost energy effectiveness. The urgent requirement for early contaminant detection is expected to create new growth opportunities for novel photobioreactor microalgae producers.

Key Takeaways from the Macroalgae Report:

The global macroalgae market is expected to reach a valuation of US$ 18,305.12 million by 2033.
Global demand for Macroalgae is likely to soar at 7.8% CAGR over the forecast period.
The global macroalgae market is valued at US$ 18,305.12 million by 2023 for historical period.
United States is projected to hold a dominant value share of 33.1% in the global market by 2033.
Japan is projected to hold a dominant value share of 11.0% in the global market by 2023

“The market for macroalgae is expanding as a result of rising interest in environmentally friendly, plant-based food sources as well as growing public awareness of the advantages of seaweed farming. Its expansion is having an effect on the world by giving the food, cosmetics, and pharmaceutical industries a nourishing and adaptable ingredient. It also helps to sequester carbon and improves ocean health.” – says a lead analyst at Future Market Insights (FMI)

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Who is Winning?

Cargill, Incorporated, Acadian Seaplants Limited, CP Kelco, Dow Chemical Company, E. I. du Pont de Nemours and Company, Gelymar SA, Irish Seaweeds, Marcel Trading Corporation, Qingdao Gather Great Ocean Algae Industry Group (GGOG), Seasol International Pty Ltd, Yan Cheng Hairui Food Co., Ltd., Ocean Harvest Technology Limited

Mara Seaweed, Algatechnologies are key Macroalgae companies listed in the report.

These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market. For instance,

In 2020, Algaia French company the company launched a new line of organic seaweed-based products for the food industry, including vegan gelling agents and texture enhancers.

Macroalgae Market Segmentation

By Type:

Red Macroalgae
Green Macroalgae
Brown Macroalgae

By Application:

Food & Beverages
Agriculture
Pharmaceuticals
Cosmetics & Personal Care
Others

By Region:

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

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Author by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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.
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Home Audio Equipment Market: Sales Projections Show Expected 12% Rise by 2032

The global home audio equipment market is projected to soar at a 12% annual growth rate, reaching a value of US$ 90 billion by 2032. The increasing demand for home audio equipment is fueled by consumers’ growing inclination towards high-end products and the rising number of households in urban areas. Developing nations such as Mexico, India, and South Africa are experiencing notable surges in demand for advanced home audio equipment, driven by the evolving preferences and tastes of the younger generation in these countries.

Fast city building, along with growing money that people can spend easily, is one of the main things helping this business. Also, more people are buying big HD TV screens by the day. This exciting entertainment business and growing liking for content you can watch when you want is making market look very good too.

So, more people are using OTT services. This means they want better home audio gear for a deeper watching experience. More and more people are joining in with streaming services, which is making the industry grow.

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Furthermore, the development of showrooms and the e-commerce business is resulting in the simple availability of items accompanied by added conveniences such as free doorstep delivery, interesting deals, and safe payment options. This contributes to the market’s growth. Leading manufacturers are also engaging in competitive marketing strategies and promotional activities in order to reach a larger customer base and enhance product sales.

Additionally, technical breakthroughs such as the creation of architecturally appropriate Dolby Atmos systems, short-throw projectors, ambient light rejecting screens, motorized window coverings, and huge LED panels are fueling market expansion. Furthermore, significant expenditures in research and development (R&D) activities are projected to fuel the market.

Key Takeaways:

The global home audio equipment market is estimated at US$ 25 Billion in 2021
The global home audio equipment market to value US$ 30 Billion in 2022.
The global Home Audio Equipment market is estimated at US$ 90 Billion by 2032.
The global home audio equipment market is expected to expand at a 12% growth rate till 2032.
North America is anticipated to exhibit a 10.6% CAGR from 2022 to 2032.
Asia Pacific is projected to record an 11% CAGR during the forecast period.
The online segment is likely to expand at 10% CAGR in the forecast period.

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“During the projection period, market expansion will be driven by rising demand for smart technologies such as multi-room solutions and ongoing advancement in in-house entertainment systems.”

Competitive Landscape

Key players in the global home audio equipment market include:

Amazon.com, Inc.
Apple Inc.
Blaupunkt GmbH
Bose Corporation
Bowers & Wilkins Group Ltd.
Creative Technology Ltd.
Edifier Technology Co., Ltd.
Google LLC
JVCKENWOOD Corporation
Koninklijke Philips N.V.
Sennheiser Electronic GmbH & Co. KG.
LG Corporation
Panasonic Corporation
Pioneer Corporation
Plantronics Inc.
Polk Audio
Samsung Electronics Co., Ltd.
Sonos, Inc.
Sony Corporation
VIZIO Inc.
Voxx International Corporation
Yamaha Corporation

Recent key developments among players are:

In August 2022, the Odyssey Neo G8, the world’s first 240Hz 4K gaming display, was introduced by Samsung Electronics. It received the Best of Innovation Award in the Gaming category at CES 2022, recognizing its technological brilliance.
In April 2022, Sonos, Inc. bought Mayht Holding BV (Mayht), a producer of revolutionary audio transducer solutions. These devices are essential components of sound-generating speakers. Mayht has reengineered them to be lighter and smaller without sacrificing quality. Mayht intends to develop speaker technology that allows more components to be packed into smaller places while saving electricity. Market participants are concentrating on increasing their competitive edge and speeding up their future roadmap.

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Key Segments Covered in the Home Audio Equipment Market Report

Home Audio Equipment Market by Technology:

Wired Home Audio Equipment
- Speaker
- Soundbar
- Home Theater in a Box (HTiB)
- Receiver
Wireless Home Audio Equipment
- Speaker
- Soundbar
- Home Theater in a Box (HTiB)
- Receiver

by Distribution Channel:

Online
Offline

by Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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