Market Research Blog – Page 3504 – New Product Development

Essential Oils and Oleoresins Market Driven by Growing Consumer Demand for Natural and Healthy Ingredients in Food Industry

The Essential Oil and Oleoresins market notable expansion within the food sector. These items are becoming more and more well-liked as natural taste enhancers and preservatives due to the growing customer desire for natural and healthy ingredients. Food makers have used them more frequently due to their adaptability and possible health benefits, which has sped up the market’s growth.

Sales of oleoresins and essential oils are projected to increase at a compound annual growth rate (CAGR) of 6.5%, reaching US$ 12,567 million in 2022 and US$ 23,479 million by 2032. Growth is attributed to the expanding use of consumer products and personal hygiene. The market for oleoresins and essential oils grew at a compound annual growth rate (CAGR) of 5.7% between 2016 and 2021.

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Consumer-Driven Demand:

Increasing Demand in Various Industries: Consumer preferences for natural food products drive the heightened demand for essential oils and oleoresins in end-user industries like drinks, bakery and confectionery, soup, and curry powder.
Diverse Applications in Household Items: The pharmaceutical, cosmetic, and perfumery industries widely use essential oils and oleoresins in various products, including mouthwash, toothpaste, body lotions, and creams, catering to consumer demands in these sectors.
Global Demand Surge: The global market for essential oils and oleoresins is propelled by the escalating demand for these products in numerous end-user industries, further fueled by the popularity of natural scent in medications, cosmetics, and other items

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The primary usage of essential oils, which are raw plant materials used in the manufacturing of food and beverages, is to improve the flavour and scent of food products. They come from oleoresins, which are one of the greatest places to get essential oils. Oleoresins and essential oils can both be produced through distillation or solvent extraction. Since both can be used to enhance the flavour and aroma of food, essential oils and synthetic chemicals are highly competing with one another in the fragrance market.

Key Takeaways:

Exponential Growth Trajectory: The Essential Oils and Oleoresins market witnesses remarkable growth in the food industry, propelled by increasing consumer demand for natural and healthy components. The market is projected to reach US$ 23,479 million by 2032, indicating a robust CAGR of 6.5% from US$ 12,567 million in 2022.
Versatility and Health Benefits: Essential oils and oleoresins find popularity as natural taste enhancers and preservatives due to their versatility and potential health advantages. Food manufacturers are increasingly incorporating these products, accelerating market expansion.
Diverse Applications: Essential oils, derived from raw plant materials, primarily serve to enhance the flavor and scent of food products. Oleoresins, a rich source of essential oils, experience high demand in the fragrance market due to their ability to improve aroma. The market competitiveness between essential oils and synthetic chemicals in the fragrance industry intensifies.
Global Market Dynamics: The market’s growth between 2016 and 2021 reflected a compound annual growth rate (CAGR) of 5.7%. Sales are expected to rise from US$ 12.5 billion to US$ 23.5 billion by 2032, fueled by applications in personal hygiene and consumer goods.

The demand for premium oils is rising as aromatherapy, which uses both essential oils and other aromatic compounds for its medicinal powers, gains popularity. The demand for natural perfumes and cosmetics is anticipated to increase over the course of the forecast period, which is likely to have an effect on the world market for essential oils and oleoresins.

Due to the increased demand for essential oils in a number of end-user industries, such as curry powder, soup, bakery and confectionery, and drinks, the market is anticipated to grow. Consumer preference for savoury cuisine is another element driving the growth of the global market for essential oils and oleoresins oils.

Essential Oils and Oleoresins Market Driven by Consumers’ Demand for Natural Food Products

Since customers are shifting to consuming food products made from natural sources, demand for essential oils and oleoresins has increased across a number of end-user industries, including drinks, bakery and confectionery, soup, and curry powder. Solvent extraction is a method used to extract essential oils from botanical sources. They are used in the food and beverage industries because of their distinctive scent. Additionally, they are employed in the production of cosmetics and natural perfumes in the fragrance and flavour sector. These features are expected to cause the market for essential oils and oleoresins to develop significantly during the next years.

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Increasing Application in Various Household Items

There is diversity in the application of essential oils and oleoresins. They are often used in the pharmaceutical industry for the production of mouthwash and toothpaste. Essential oils and oleoresins also find application in the cosmetic industry where they are used to produce the aromatic scent gotten from body lotion, cream, and many more. Consumers’ demand for these items is a significant factor fueling the surge in demand for essential oils from the pharmaceutical industry, cosmetic industry, perfumery industry, and others. The rise in demand will also facilitate the growth of the global essential oils and oleoresins market.

Essential Oils and Oleoresins Market Restraint

The growth of the global essential oils and oleoresins market is threatened by the surge in the price of high-quality products that essential oils are used to produce. Consumers are often discouraged when the cost of items is high in the global market. A rise in the price of a product will foster consumers to switch towards the consumption of items with similar quality but a low price. And this will hamper the growth of the essential oils and oleoresins market globally.

Essential Oils and Oleoresins Market: Region-wise Analysis

The Asia Pacific is slated to experience rapid growth during the forecast period due to the rising preference of consumers and manufacturers for food items such as black pepper, cloves, and others. North America is the next region expected to witness significant growth over the forecast period. Countries like India and China are in high demand for essential oils and oleoresins. For this reason, the Asia Pacific is expected to register a healthy CAGR over the forecast period.

Essential Oils and Oleoresins: Competitive Landscape

doTERRA International LLC
Mountain Rose Herbs, Inc.
Synthite Industries Ltd.
Clarion Casein Ltd.
Universal Oleoresins Private Limited
Young Living Essential Oils LC

Region-wise Analysis

North America (U.S., Canada)
Latin America (Mexico, Brazil)
Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
East Asia (China, Japan, South Korea)
South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
Oceania (Australia, New Zealand)
Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

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Market Restraint:

The surge in the price of high-quality essential oil products acts as a restraint on the market’s growth. High product costs may prompt consumers to seek alternatives with similar quality but at a lower price, hampering market expansion.

Regional Analysis:

Asia Pacific Growth: The Asia Pacific is anticipated to experience rapid growth, driven by increasing consumer and manufacturer preferences for food items like black pepper and cloves.
North America’s Prominence: North America, particularly countries like India and China, shows high demand for essential oils and oleoresins, contributing to significant market growth

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 5000 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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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Continuous Peripheral Nerve Block Catheter Market En Route to Surpassing US$ 1,058.6 Billion by 2033

The continuous peripheral nerve block catheter market share is anticipated to reach a valuation of US$ 585.6 million by 2023. Continuous peripheral nerve block catheter sales are projected to reach US$ 1,058.6 million by 2033. Continuous peripheral nerve block catheter revenue is expected to increase at a compound annual growth rate of 6.1%.

Over the course of the forecast period, the continuous peripheral nerve block catheter market is predicted to expand in revenue due to the growing use of analgesics and post-joint replacement operations, such as hip and knee replacement, for pain management.

The continuous peripheral nerve block catheter market is driven by factors such as the need for adequate postoperative pain management, a high prevalence of orthopedic and trauma surgeries, and a focus on reducing opioid use. The increasing demand for effective pain management and the desire to reduce opioid dependency is expected to drive the demand for continuous peripheral nerve block catheters.

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The growth of ambulatory surgery centers (ASCs) has created a favorable environment for continuous peripheral nerve block catheters. Continuous peripheral nerve block catheters are finding applications beyond orthopedic surgeries, including in thoracic surgery, abdominal surgery, and chronic pain management. The expanding scope of use is driving market growth.

Regulatory agencies are increasingly recognizing the value of nerve block catheters in pain management and postoperative care, which can boost adoption.

Ongoing research and development activities are leading to the introduction of new catheter designs, pain management protocols, and local anesthetic agents, further driving market growth. Integrating telemedicine and remote monitoring technologies can enhance the management of patients with nerve block catheters, making these devices more accessible and convenient.

Key Takeaways

From 2018 to 2022, the packaging machinery market demand expanded at a CAGR of 5.6%
Based on product type, the non-stimulating catheter segment is expected to account for a CAGR of 6.0% during the forecast period.
Global continuous peripheral nerve block catheter demand in Germany is expected to expand at a CAGR of 5.7% during the forecast period.
In the United States, the market is expected to reach US$ 245.6 million between 2023 and 2033.
A growth rate of 5.9% is expected for the hospital segment over the forecast period.
China is projected to expand by 5.5% between 2023 and 2033.
By 2033, the market in India is anticipated to expand at a CAGR of 5.4% during the forecast period.

“Growing surgery volume coupled with the soaring need for effective postoperative care is anticipated to support the market growth during the forecast period.”

Competitive Landscape

The market players invest in research and development, sustainability initiatives, and digitalization to stay competitive and provide innovative packaging solutions to various industries.

Some of the recent developments from the market are as follows-

In February 2022 InfuSystem, a national healthcare service provider, announced an agreement with Solo-Dex, for the development of continuous peripheral nerve block catheters. InfuSystem and Solo-Dex are moving development toward the acute pain management market.
Stryker is a leading medical technology company with a presence in the continuous peripheral nerve block catheter market. The company has worked on developing integrated pain management solutions that include catheters and infusion pumps for precise anesthetic delivery. Stryker has expanded its product portfolio to provide a comprehensive range of pain management solutions.

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Market Segmentation

By Product Type:

Stimulating Catheter
- Open Tip Catheter Stimulating Catheter
- Closed Tip Catheter Stimulating Catheter
Non-Stimulating Catheter
- Open Tip Catheter Non-Stimulating Catheter
- Closed Tip Catheter Non-Stimulating Catheter
Over-The-Needle Catheter

By Insertion Technique:

Nerve Stimulation Based Insertion
Ultrasound Based Insertion

By Indication:

Trauma Cases
Upper Extremity Surgeries
Lower extremity Surgeries
Pain Management
Other Indications

By End User:

Hospitals
Ambulatory Surgical Centers

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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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Insights: Dimethylformamide Market Set to Grow with 4.8% CAGR from 2023 to 2033

The dimethylformamide (DMF) market is anticipated to thrive at an average CAGR of 4.8% between 2023 and 2033. The market is expected to have a market share of US$ 627.7 million by 2033, while it is likely to be valued at US$ 392.8 million in 2023.

Higher demand for dyes, fertilizers, pesticides, and herbicides has flourished the market growth. Furthermore, the advanced SBR latest production also involves the usage of dimethylformamide. Hence, the future for the market looks promising during the forecast period.

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As an aprotic solvent in chemical transformation, the DMF is also used as a reagent, catalyst, and stabilizer. Hence, these different applications of it help specific chemical operations. New derivatives and saturation levels also decide the performance of the DMF as separate elements in a chemical reaction.

The many probable mechanisms originating through these reactions also help the chemical sector growth. The affordable and safe DMF can undergo a series of controlled experiments with the source of ‘CN’ units.

The increased manufacturing and demand of synthetic leathers, adhesives, films, fibers, and sugar face coating are anticipated to add value to the market. The effective usage of it at separating and suspending carbon nanotubes is also expected to create new opportunities for the market.

Key Points

The United States market leads the North American dimethylformamide (DMF) market in terms of market share in North America. The United States held a market share of 21.3% in 2022. The factors attributed to the growth are a higher government budget for research-based institutions, chemical product preparation, and restored production space.
The German dimethylformamide (DMF) market held a healthy market share of 9.8% in 2022. The market growth is caused by higher manufacturing of adhesives and improved supply chain. The European quest to deliver sustainable solutions for manufacturing and production.
The Indian market thrives at a steady CAGR of 8.3% between 2023 and 2033. The growth is attributed to the government extending chemical product research and development.
China thrives at a booming CAGR of 28.4% between 2023 and 2033. The rapid growth is due to the restored manufacturing and production of acrylic and other chemical-based products.
Based on operation type, the semi-automatic segment held the leading market share of 24.6% in 2022—increased application of it in synthetic resin and leather industries and dose-related massive necrosis in animals.
Based on end use, the pharmaceutical industry segment leads as it held a market share of 43.1% in 2022

Competitive Landscape

The key suppliers focus on multi-purpose usage, delivering enough derivatives, and passing different grade checks. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments

Artha Enterprise has introduced a 170 kg drum and tanker load of dimethyformamide (DMF). The product comes from RCF and is imported to Indian markets through Artha Enterprises.
Zhejiang Jiangshan Chemical has launched its Dimethylformamide (DMF) with its different derivatives.

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Key Players

Cable House
J. N. Chemical
Artha Enterprise
Alpha Chemika
Antares Chem Pvt. Ltd.
BASF
Eastman Chemical
Merck
Luxi Chemical Group
Jiutian Chemical Group
Mitsubishi Gas Chemical
The Chemours
Zhejiang Jiangshan Chemical
Chemanol
AK-KIM
Pharmco Products
Ineos AG
Arkema Group

Key Segmentation Covered

By Derivatives:

N, N-DMF Dimethyl Acetal
N, N-DMF Ditert-Butyl Acetal
N, N-Dimethylformamide

By Application:

Industrial Solvent
Polymer Fibres
Surface Coatings
Films
Processing of Acrylic Fibres
Wire Enamel

By End User:

Pesticides
Pharmaceuticals
Solvents
Chemicals

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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Baby Diaper Market Poised to Advance at a 5.5% CAGR, Expected to Surpass US$ 120 Billion by 2033: Exploring Growth Opportunities and Trends

With an estimated value of US$ 70 billion in 2023, the baby diaper market anticipates substantial growth, projected to exceed US$ 120 billion by 2033. Forecasts suggest a steady adoption rate for baby diapers, poised to advance at a Compound Annual Growth Rate (CAGR) of 5.5% throughout the forecast period. This trajectory underscores the enduring demand for essential childcare products and the increasing emphasis on convenience and hygiene. As the market continues to expand, manufacturers and retailers have significant opportunities to innovate and cater to the evolving needs of parents and caregivers worldwide, driving further growth in the sector.

The global baby diaper market is a lucrative industry that continues to experience significant growth due to the increasing demand for baby care products and the rising population of infants worldwide. Numerous opportunities and trends are emerging in the market that can benefit baby diaper manufacturers and retailers.

An emerging trend in the baby diaper market is the increasing popularity of smart diapers. Smart diapers are designed with sensors that can detect moisture levels and notify caregivers when it is time for a diaper change. This feature can help reduce the risk of diaper rash and infections, providing a more comfortable experience for infants and caregivers.

The demand for premium and high-quality baby diapers is growing due to the rise in disposable income and changing consumer preferences. Baby diaper manufacturers are investing in advanced technologies to produce superior quality diapers with enhanced absorbency, comfort, and flexibility, thus meeting the needs of discerning consumers.

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The e-commerce channel is becoming an essential distribution channel for baby diaper products, driven by the growing penetration of smartphones and the internet. Consumers are increasingly purchasing baby diapers online due to the convenience and ease of shopping, providing an opportunity for manufacturers to expand their online presence.

Key Takeaways:

As per FMI analysis, the United States currently holds the leading share, accounting for a CAGR of 5.3% in the global market in 2022.
Germany emerged as a significant player in the baby diaper industry, with a CAGR of 5.1% in 2022.
China’s baby diaper industry held a CAGR of 5% in 2022.
The pant style segment is expected to dominate the baby diaper industry with a CAGR of 5.6% in 2022.
The disposable diaper segment is expected to dominate the baby diaper market, capturing a CAGR of 5.4% in 2022.

“The baby diaper market is witnessing a rapid shift towards more sustainable and eco-friendly options, as well as the adoption of advanced technologies for increased convenience and performance”, suggests an analyst at FMI.

How Key Players are Revolutionizing the Manufacturing of the Baby Diaper market?

The baby diaper industry has a very competitive environment due to numerous companies that operate globally. Leading players in the baby diaper market are constantly innovating to revolutionize the manufacturing process. Among the key areas of focus is sustainability, with several companies making efforts to reduce their environmental impact. For example, Procter & Gamble has introduced a diaper recycling program that turns used diapers into items like plastic lumber and roofing materials.

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A prominent aspect is technology, with companies investing in advanced materials and manufacturing processes to improve the performance and comfort of diapers. For example, Kimberly-Clark has developed a patented technology called ‘Airflex’ which allows for the creation of a thinner, more flexible diaper without sacrificing absorbency.

Leading players are also investing in research and development to better understand the needs and preferences of parents and babies. This includes developing new product features and improving existing ones to meet the evolving demands of the market.

Key Players:

Kimberly-Clark Corporation
Procter & Gamble Company
Kao Corporation
Unicharm Corporation
Cardinal Health Inc.
Ontex International N.V.
Bambo Nature USA,
PAUL HARTMANN AG,
C. R. Bard, Inc.
Aleva Naturals (D&G Laboratories Inc.)
B. Braun Melsungen AG
Babyganics (S.C. Johnson & Son Inc.)
Bambino Mio Ltd.
Bambo Nature USA (Abena Group)
The Honest Company Inc.

Recent Developments in the Baby Diaper Industry:

In February 2021, Procter & Gamble launched its new line of eco-friendly diaper products, called ‘Pampers Pure Protection – Natural Diapers’.

More Insights Available:

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

To understand opportunities in the reusable incontinence products market, the report is segmented on the basis of Product (Underwear Pants, Cloth Diapers, Flat Cloth Diaper, Pre-Fold Cloth Diaper, Pocket Diaper, Fitted Cloth Diaper, Hybrid Cloth Diaper, All-in-One Diaper, Preemie Diapers and Swim Diaper), Age (0 to 5 Months, 5 to 8 Months, 9 to 24 Months and Above 24 Months), Style (Tape Style and Pant Style), Functionality (Disposable Diaper and Reusable Diaper), across 5 major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Market Segmentation:

By Product:

Underwear Pants
Cloth Diapers
Flat Cloth Diaper
Pre-Fold Cloth Diaper
Pocket Diaper
Fitted Cloth Diaper
Hybrid Cloth Diaper
All-in-One Diaper
Preemie Diapers
Swim Diaper

By Age:

0 to 5 Months
5 to 8 Months
9 to 24 Months
Above 24 Months

By Style:

Tape Style
Pant Style

By Functionality:

Disposable Diaper
Reusable Diaper

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

Author

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

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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New Rules and Urbanization Propel China’s Casino Tourism to a Potential US$ 22.30 Million Market by 2032 | FMI

According to recently published statistics by Future Market Insights (FMI), the China casino tourism market is anticipated to grow at a compound annual growth rate (CAGR) of 8.1% from 2022 to 2032, from an expected US$ 10.234 million in 2022 to US$ 22.30 million by 2032.

Online gambling is the practice of wagering on casinos and other sports-related events through the use of the Internet. Since computer programs regulate the activity, there is no physical interaction between players when playing online. Sports betting, blackjack, poker, roulette, and slot machines are just a few examples of the games that may be played online.

These games can be accessible through a website or downloaded using gambling software on a computer. Due to its accessibility from any smart device, cashless transactions, real-time gambling experience, and ability to set players’ own spending limits, online gambling has become extremely popular in China.

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The legalization of online gambling in China is the main factor driving the industry for this type of gambling. To regulate and police online poker, casinos, and sports betting businesses, the government has adopted new rules and regulations. Consumer interactions with domestic and foreign gambling websites and mobile applications are developing as a result of expanding internet access and increased urbanization.

Key Takeaways:

Through 2032, Punto Banco is expected to hold a significant market share in terms of Game type.
Age-wise, through 2032, demand will continue to increase in the 35 to 50-year-old range.
Nearly 15 million tourist visit China for casinos every year.
Based on type of tourist, International tourists will continue to grow in the forecasted period.

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Key Players

Thrillophilia.com
Kayak
Travel Triangle
Veena World
Milesandsmilesholidays
Tripadvisor
TourRadar
Holidify Travels Pvt. Ltd.
Agoda
Yatra.com
chinadiscovery.com
Expedia, Inc. (as per request)

The China Casino Tourism Market by Category

By Game Type:

3 Card Poker
American Roulette
Blackjack
Casino Stud Poker
Dice
Punto Banco
Others

By Casino Type:

Commercial
Tribal
Limited Stakes
I-gaming

By End Users (% of Demand):

Gambling Enthusiasts
Social Exuberant
Dabblers
Lottery Loyalists
Unengaged Audience

By Tourist Type:

Domestic
International

By Tour Type:

Independent Traveller
Package Traveller
Tour Group

By Consumer Orientation:

Men
Women

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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

Tinnitus Management Market Forecasted Surge to US$ 3.7 Billion by 2033

The tinnitus management market will grow rapidly. According to Future Market Insights, the market’s current value of US$ 2.62 billion in 2023 would increase to US$ 3.7 billion by 2033. Through 2033, this increase is expected to be supported by a 3.7% CAGR.The market for tinnitus management has expanded significantly in recent years due to the ongoing global increase in tinnitus prevalence. A condition that causes millions of people to experience ringing or buzzing sounds in their ears without any external source, tinnitus lowers quality of life. This has spurred more funding for research and development, which has resulted in the release of novel treatments and solutions for the management of tinnitus. Numerous variables, such as the ageing population and increased exposure, are driving the market.

Increased tinnitus awareness and the creation of novel treatments are anticipated to propel market expansion. Tinnitus is a common condition that can have a negative effect on a person’s quality of life. Demand for tinnitus management has increased as a result of the growing need for effective treatment options. This demand is anticipated to accelerate market growth for tinnitus management.

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Furthermore, the tinnitus management market is also influenced by the integration of digital health solutions and telemedicine. The COVID-19 pandemic has accelerated the adoption of telehealth services, and tinnitus management is no exception. Patients can now access remote consultations with audiologists and therapists, making it more convenient to seek treatment and support. This trend is likely to continue, driving growth in the telehealth and digital health segments of the market. Overall, with ongoing research, technological advancements, and the increasing focus on patient-centric care, the tinnitus management market is poised for further expansion as it strives to address the needs of individuals living with this challenging condition.

Key Takeaways

The significant developments in Tinnitus technology and tinnitus management devices which provide long-term relief and are well-accepted sound therapies all over the world are boosting the sales in the tinnitus management market.
The growing prevalence of tinnitus and increasing investment in research & development initiatives will continue driving the tinnitus management market.
An exponential increase can be seen in the prevalence of hearing aids at a global level owing to the sales of the tinnitus management market through the forecast period.
Owing to the increased research and development initiatives will continue driving the tinnitus management market.
World Health Organization (WHO) projects around 466 million people are affected by disabling hearing aid and this figure is increasing each day globally accounting for increased sales in the tinnitus management market.
There has been a significant shift in patient preference towards innovative and advanced technologies such as mobile apps and other hearing aids accessories in the recent past, propelling growth in the market.

Key Players

Pfizer Inc.
Sanofi
Teva Pharmaceutical
GlaxoSmithKline
Eli Lilly and Co.
Bayer AG
Takeda Pharmaceutical Company Ltd.
Boehringer Ingelheim
Merck & Co.
Abbivie
Starkey Laboratories, Inc.
GN Hearing A/S
Widex A/S
Oticon Inc.
Neuromod Devices Ltd.
Neuromonics, Inc.
Puretone Ltd.
Signia

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Key Segments

By Product:

Devices
- Sound Masking Devices
- Notched Music Devices
- Hearing Aids
Drugs
- Tricyclic Antidepressants
- Antianxiety
- Anticonvulsants

By Indication:

Subjective Tinnitus
Objective Tinnitus

By Distribution Channel:

Audiology Centers
ENT Clinics
Hospitals
E-Commerce

By Region:

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

Author By:

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Dimethyl Disulfide Market to Reach US$ 343.7 Million by 2033: Rising Demand Beyond Agriculture

According to the FMI report, the total sales of the dimethyl disulfide market are expected to record an average annual growth rate of 4.2%. The market is predicted to grow rapidly throughout the projection period until 2033, concluding at a value of about US$ 343.7 million.

DMDS is a powerful soil fumigant, and insect control agent used worldwide for sustainable and effective agricultural techniques. Farmers favor it because it can inhibit nematodes, insects, and weed seeds while enhancing crop output. DMDS is also frequently utilized in the oil and gas sector, where it helps to increase oil well productivity and improve heavy oil recovery.

The demand for dimethyl disulfide, however, is growing presently with its growing uses outside of the oil and gas industry and the agricultural sector. This chemical is in high demand, particularly in the pharmaceutical production, due to its function in medication development. It forms a crucial step in the synthesis of active pharmaceutical ingredients (APIs) in the pharmaceutical industry. Due to its adaptability, DMDS is also an essential ingredient in synthesizing antioxidants, contributing to its rising popularity.

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Key Takeaways from the Global Dimethyl Disulphide (DMDS) Market Study Report by FMI

The global market is poised to witness an absolute dollar growth of US$ 116 million over the next ten years.
The United States currently holds the top position in the consumption of dimethyl disulfide among all the countries.
In Europe, Germany is the leading producer of dimethyl disulfide solutions, while presently, its consumption is rising fast in the United Kingdom.
Asia Pacific countries, like China and India, are the notable countries with higher anticipated CAGRs through 2033.

Competitive Landscape for the Dimethyl Disulphide (DMDS) Market Players

Arkema, Chevron Phillips, Sigma-Aldrich, IRO Group, Affon Chemical, Uniwin Chemical, Langfang Jinshenghui, Erdos Flourishing Fine Chemical, and Alkyl Amines are some top market players. These leading market players have somewhat consolidated by making investments in research and development to improve product quality and investigate new applications.

The recent intensification of market competition among rivals may be ascribed to the increased use of dimethyl disulfide across several industries. This, in turn, is boosting the commercial opportunities of market participants engaged in its manufacture and supply in local and international markets.

The growth of market participants into new regions has also been assisted by alliances and cooperation with end-user industries, guaranteeing a timely and effective supply.

Recent Developments by the Dimethyl Disulphide (DMDS) Manufacturing Industries

Chevron Phillips Chemical stated in January 2023 that its dimethyl disulfide (DMDS) production plant in Baytown, Texas, may expand. This expansion by Chevron Phillips Chemical is expected to assist the business in meeting the product’s rising demand.

IRO Group announced the introduction of their fresh line of DMDS products having a high degree of purity and no smell for the refining sector in November 2022. This new product line is intended for use in a range of refining processes, including hydrotreating, hydrocracking, and desulfurization.

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Key Segments Profiled in the Dimethyl Disulphide (DMDS) Industry

By End User:

Petrochemical
Pesticides & Fertilizers
Oil & Gas
Chemicals
Food & Beverages
Other End-user Industries

By Region:

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

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

Vegan Cosmetics Market: Forecasted Evolution at a 6.1% CAGR by 2033 Unveils Growing Trends and Opportunities

In 2023, the vegan cosmetics market boasts a valuation of US$ 16,8674 million, with projections indicating a steady evolution at a Compound Annual Growth Rate (CAGR) of 6.1% from 2023 to 2033. By the end of 2033, the industry is anticipated to reach a substantial worth of US$ 30,493 million. These forecasts underscore the escalating demand for cruelty-free and environmentally friendly beauty products, reflecting shifting consumer preferences towards sustainability and ethical consumption. As the market continues to expand, stakeholders have significant opportunities to capitalize on the growing popularity of vegan cosmetics and cater to the evolving needs of conscientious consumers.

The market’s expansion is influenced by several variables, such as the consumer demand for cruelty-free cosmetics, the expansion of the cosmetics market, and the advertising and marketing tactics used by cruelty-free cosmetics manufacturers.

Marketing and Promotion Power the Cruelty-free Cosmetics Industry

Recent years have seen strong expansion in the cosmetics sector, driven by rising incomes and changing lifestyles. Due to the increase in disposable income, more people are buying high-end goods that promise to deliver results.

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In developing countries, demand for cosmetics has constantly increased. A huge shift has occurred as customers go from budget-friendly to high-end branded cosmetics. Men’s grooming products now include deodorants, bath products, hair care products, concealers, skin-whitening products, sunscreens, anti-aging items, and classic shaving supplies. The global cruelty-free cosmetics market has grown in demand due to this shift in customer preferences. This changing customer behavior promises a bright future for the sector.

E-commerce’s Role in Empowering Small and Medium-sized Cosmetics Enterprises

Cross-border trade has increased due to globalization and deregulation, leading to increased B2B and B2C transactions. Online business, especially in e-commerce, has been spurred by technological advancements and expanded internet access. Thanks to technological advancements like AI, the e-commerce industry has grown as a result of the move toward online buying.

Using social media and smartphones, small and medium-sized cosmetics companies have discovered a platform to display their products. Due to the rise in internet purchasing, technological advancements, and increased consumer knowledge of the market, cruelty-free cosmetics are expected to grow. Key cruelty-free makeup manufacturers benefit from cooperation with significant online retailers, which indicates a positive future for the global vegan cosmetics market.

Key Takeaways

The facial products in the product type category to grab a share of 36.40% through 2033.
Pumps and dispensers in the packaging type segment to acquire 23.60% of the market share by 2033.
The United States vegan cosmetics industry to grab a share of 32.5% by 2033.
Canada to hold a vegan cosmetics market share of 3.2% by 2033.
By 2033, the United Kingdom is going to own 6.8% of the global market.
Germany is going to dictate 5.2% of the global vegan cosmetics market by 2033.
By 2033, China may possess 8.4% of the global vegan cosmetics market.
India is anticipated to hold a 7.8% cruelty-free makeup market share by 2033.
By 2033, Japan’s cruelty-free cosmetics market is going to latch a 5.8% share.

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Competitive Landscape

International and domestic cruelty-free cosmetic manufacturers might be found in the market. To improve their portfolio offering in the market, prominent vegan makeup manufacturers put a lot of effort into methods, including innovation and new product launches.

Key Vegan Cosmetics Manufacturers Companies

Milani
Too Faced
Tarte
Urban Decay
Wet n Wild
Lush
Kat Von D Beauty

Recent Breakthroughs

A vegan nail lacquer with 128 different hues was announced in January 2022 by Colorbar, one of the industry’s top manufacturers, to increase its selection of vegan items in the Indian market.
A cooperation between the consumer goods behemoth ‘Unilever’ and Hourglass, one of the producers of vegan beauty products, to see the release of a carmine-free vegan lipstick in the market in March 2021.
The 100% vegan mascara from ‘Kat Von D Beauty’ cosmetics company was introduced in April 2019. It is manufactured from a combination of sunflower and olive oil.

Urbanites’ Trust in Vegan Certifications Threatens Traditional Cosmetic Brands

Urban consumers who appreciate ethical products are the main market for cruelty-free makeup manufacturers. Urbanites trust vegan and cruelty-free certificates more than advertisements to ensure that products aren’t tested on animals.

The Vegan Awareness Foundation’s cruelty-free logo and Cruelty-Free International’s Leaping Bunny certification are essential. To obtain vegan certification, businesses must update their production techniques and follow stringent regulations. These regulations prohibit the use of GMOs, animal testing, and animal products. Investment and efficient marketing are required for this accreditation. The hesitation of well-known cosmetics companies to use cruelty-free products presents a growth obstacle for the private-label vegan cosmetics market.

Regional Outlook

In North America, Europe, and Asia Pacific, the vegan cosmetics market size is expanding rapidly. Demand for vegan cosmetics is rising in North America as consumers become more aware of ethical and environmentally friendly beauty products. With strict legislation promoting cruelty-free and plant-based beauty products, Europe remains a significant market.

Asia Pacific, meanwhile, is turning out to be a lucrative market as a result of expanding veganism and K-beauty trends. These areas are seeing an increase in cutting-edge, non-cruelty formulations and eco-friendly packaging, which points to a bright future for the cruelty-free cosmetics market.

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Key Segmentation

By Product Type:

Facial Products
Eye Products
Lip Products
Nail Products

By Packaging Type:

Pumps & Dispensers
Compact Cases
Jars
Pencils and Sticks
Tubes
Others

By Consumer Orientation:

Men
Women
Kids

By Price Range:

Mass
Premium

By Sales Channel:

Wholesalers/ Distributors
Modern Trade
Convenience Stores
Departmental Stores
Specialty Stores
Online Retailers
Others

By Region:

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

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

Drug of Abuse Testing Market Accelerating Towards a Projected US$ 2.69 Billion by 2033

The drug abuse testing market share is expected to be valued US$ 1.65 billion by 2023 and US$ 2.69 billion by 2033. Over the estimated period, the market is anticipated to increase at a compound annual growth rate (CAGR) of 5.3%.

The market for drug abuse testing is expanding significantly and is predicted to keep growing in the upcoming years. In this market, biological samples like blood, saliva, or urine are tested to look for the presence of illegal substances or prescription drugs that aren’t used as directed. The demand for drug testing services is expanding globally due to the increased prevalence of drug addiction and growing awareness of the negative impacts of substance abuse on health and workplace safety.

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Technological advancements have played a crucial role in expanding the Drug of Abuse Testing Market. Innovations in testing methodologies, including the development of rapid, accurate, and easy-to-use point-of-care testing devices, have gained momentum. Additionally, stringent regulations and workplace policies mandating drug testing, along with the need for testing in sports and law enforcement, are further propelling market growth. As a result, the drug of abuse testing market is anticipated to witness steady expansion as it continues to address the pressing need for drug screening across various sectors, ultimately contributing to improved public health and safety.

Factors contributing to the global market growth are:

Increase Substance Abuse: The demand for Drug Abuse Testing for prescription and illicit drugs drives the global market. It is significantly used in various settings for drug detection, including schools, workplaces, and rehabilitation centers.
Workplace Safety: Employers across several industries prefer drug testing programs to enhance workplace safety. This testing helps to identify employees under drug influence, which helps to reduce the risk of injuries and accidents.
Sports and Athletics: Drug testing play a key role in maintaining fair competition in sports activities. The government and sports organizations initiate anti-doping, which increases the demand for Drug Abuse Testing to enhance players’ performance.
Advanced Technologies: The rising advanced technologies to develop efficient, accurate, and sensitive drug testing methods fuel the global market. The growing innovations of point-of-care testing, immunoassays, and chromatography techniques drive the global market.
Growing Awareness: The rising awareness of the side effects of drugs and prevention are increasing the adoption of Drug Abuse Testing. Government bodies, healthcare, and NGOs are initiative education campaigns that contribute to expanding the global market.

Top Highlights by FMI’s Analysis:

The Drug Abuse Testing market is estimated to secure a valuation of US$ 2.69 billion in 2033 with a CAGR of 5.3% during the forecast period.
In the historical period, the market secured a valuation of US$ 1.5 billion in 2022.
The United States dominates the global market by capturing a maximum share of 25.5% during the forecast period.
Germany is significantly driving the global market by registering a share of 4% by 2033.
With a share of 3.3%, Japan is securing a significant share in the global market during the forecast period.

How are Key Players Adding Value in the Global Market?

Several prominent players consolidate the market presence globally. These players are developing innovative products by adopting advanced technologies. They offer improved and high-quality products to their consumers as per their needs.

Key players are adopting various marketing methodologies to elevate the global market. These marketing methodologies are partnerships, mergers, acquisitions, collaborations, product launches, and agreements. The key players are conveniently provided delivery of their products and services through their distribution networks.

They are marketing and promoting their products in social media, online retailers, and offline platforms to increase their sales volume. These players are significantly expanding the market by providing awareness and educating their customers at trade shows, exhibitions, and seminars.

Major Players are:

Quest Diagnostics
Roche Holding AG
Thermo Fisher Scientific, Inc.
Siemens AG (Siemens Healthineers)
Abbott Laboratories (Alere, Inc.)
Shimadzu Corporation
Express Diagnostics International Inc.
Drägerwerk AG & Co. KGaA
Laboratory Corporation of America Holdings

Key Developments in this Market:

Abbott Laboratories offers a variety of Drug Abuse Testing, such as laboratory testing solutions, immunoassays, and point-of-care testing. The company invests in research and development activities to expand its business portfolio.

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Key Segmentation:

By Drug Type:

Psychostimulants
Narcotic
Cannabinoids
Sedatives
Others

By Technique:

Immunoassay
Chromatography
Rapid Testing

By End User:

Hospitals
Diagnostics Laboratories
Forensic Laboratories
Others

Author By:

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Forecasting India’s Outbound Tourism: Eyeing a Strong 11.4% CAGR and US$ 44.79 Billion Market by 2032 | FMI

As per Future Market Insights (FMI), the India outbound tourism market is suspended to reach a valuation of US$ 15.16 Billion in 2022. Sales are projected to grow at an 11.4% CAGR, with the market extent reaching US$ 44.79 Billion by 2032.

Foreign tourist boards are preparing to accommodate the increasing number of Indians who are travelling overseas and overspending. The initial step is to start direct flights. There is encouraging news from the travel and tourism industry and a slow economy. India is now the outbound market with the most significant growth rate in volume, coming in second only to China.

The South African tourism board agrees that India has emerged as a significant source of international travel. The number of Indian tourists visiting Thailand surpassed 1 million for the first time. Thai Airways has begun offering direct flights between Delhi and Phuket and Mumbai and Phuket to meet the growing demand from Indians seeking vacation and destination wedding locations.

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Further, the demand for packaged holidays offered by companies such as Cox & Kings is rising as more Indians travel overseas for the first time. Indian travelers are growing more daring and like to customize their travels by selecting unexpected locales and novel activities. To improve the outbound tourist business, the government might take measures like increasing direct links to popular and emerging places, permitting foreign cruise ships to sail in Indian waters, and making deliberate and coordinated efforts on several fronts.

Key Takeaways from the India Outbound Tourism Market Study:

European and North American destinations, is currently dealing with issues like exceptionally long visa processing times and scarce air connectivity with high prices.
Top three tourist destinations for Indians are expected to be Thailand, Singapore, and the U.S.
Business travels and holiday/leisure are the most popular purpose types in the India outbound tourism market
Online booking channels is expected to dominate the India outbound tourism market in terms of booking channel.

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Key Players:

Orbit
Thomas Cook
SOTC Kuoni
Raj Travels
In Orbit Tours
Cox and Kings
TCI
Kesari
Travelmart India
Riya Travels
Akbar Travels
BTI Sita
BCD Travels
Mercury Travels
Gold Chip
Kesari
Amadeus ( as per request)

India Outbound Tourism Market By Category

By Purpose Type:

Business
Holiday/Leisure
VFR & Others

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Tourism Type

Cultural & Heritage Tourism
Medical Tourism
Eco/Sustainable Tourism
Sports Tourism
Wellness Tourism & Others

By Tour Type:

Independent Traveller
Package Traveller
Tour Group

By Consumer Orientation:

Men
Women

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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