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.
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.
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.
The tennis equipment market is poised to attain a valuation of US$ 9.24 billion by 2023, with projections indicating a potential increase to US$ 12 billion by 2033. Anticipated sales growth of tennis equipment is expected to progress steadily at a Compound Annual Growth Rate (CAGR) of 2.6% from 2023 to 2033. These forecasts underscore the enduring popularity of tennis and the sustained demand for related gear and accessories. As the market evolves, manufacturers and retailers have the opportunity to innovate and cater to the diverse needs of tennis enthusiasts, driving further expansion in the sector.
Racquets are expected to contribute the highest revenue share in the global tennis equipment market in 2022. In recent years, increasing number of women participation in sports activities such as tennis has been complementing the growth of the global sports industry, thereby potentially raising the demand for sports equipment.
The number of individual buyers of tennis equipment are likely to increase at rapid pace, owing to growing participation of young and cardio tennis players over the past few years. Additionally, manufacturers are on an innovation spree, as lightweight racquets, such as Head Graphene 360 Radical Lite racket, continue to gain significant tractions, enabling players to swing them faster and generate more topspin on the ball.
Independent sports outlet is estimated to be the leading sales channel in the global tennis equipment market in 2022, due to availability of high quality products at affordable price which is affecting larger competitors in the market.
According to FMI’s report, endorsement is one of the key strategies used by tennis equipment manufacturers to drive their sales. Shoes and apparels endorsed by athletes are 60% more likely to get sold as compared to those without any endorsement. Tennis shoes and apparels consumers are also being influenced by brand promotions done by their favorite stars.
Additionally, various manufactures of tennis equipment have shifted their concentration heavily upon the distribution of equipment through online sales channels. It could be evidently seen that a majority of tennis shoe manufactures, such as Adidas, Puma, Yonex and Li Ning, have turned their attention to capture sales of tennis shoes through online channels, such as company’s official e-commerce websites and third-party e-commerce websites.
South & East Asia Remains Prominent Market for Tennis Equipment
Growing influence of professional tennis among the Asian population is offering a lucrative opportunity for tennis equipment market players in South & East Asia. Additionally, factors such as booming Chinese economy, development of sports infrastructure, and training facilities have created opportunities for various stakeholders in the sports equipment manufacturing ecosystem.
Profound interest of government as well as private sector in sports activities such as tennis has helped to strengthen the image of sports within the developing countries. Transition of casual to core tennis participation is likely to contribute substantial growth to the tennis equipment market. The increasing fitness trend among millennials in the Asia Pacific region is expected to provide an impressive growth to the tennis equipment market during 2022-2029.
Rising awareness about protecting our environment and the preference for natural products is expected to promote the growth of biodegradable and eco-friendly tennis products. People are preferring natural gut tennis strings, as an eco-friendlier option. These strings are made from recycled synthetics or alternative materials.
The raw material used in natural gut strings is a by-product of the meat industry, a viable alternative to petroleum-based plastics. Furthermore, people are preferring athletic clothing made from recycled or sustainable materials which is creating a massive opportunity for the growth of the global tennis equipment market during the forecast period.
FMI’s business intelligence also highlights significant insights into the competitive scenario of the tennis equipment market along with manufacturers’ differential strategies. Key players in the tennis equipment market are focusing on new product development and efficiency enhancement to gain brand penetration and loyalty among consumers. For example, in 2018, Amer Sports Corporation’s brand Wilson launched the Iconic John Wooden sneaker.
It features a revolutionary polyurethane sole that is lightweight. This launch was aimed at expanding the company’s product portfolio. According to FMI’s report, companies are also continuously expanding awareness about their products in the market by showcasing them at various events with the objective to increase sales as well as brand penetration in the tennis equipment market.
Key Players Are:
Amer Sports Corporation
Head N.V.
Dunlop Sports Co. Ltd.
Tecnifibre
Oliver Sports & Squash GmbH
Harrow Sports Inc.
Babolat
Yonex Co. Ltd.
Adidas AG
Gamma Sports
Prince Global Sports LLC
ProKennex
One Strings
Solinco
Nike Inc.
Playmate Ball Machines
Volkl Int. GmbH
Market Segmentation
By Product Type:
Tennis Racquets
Tennis Balls
Apparel
Footwear
Ball Machines
Tennis Bags
Other Accessories
By Material:
Composites
Metallic
Other Materials
By Buyer:
Tennis Equipment for Individuals
Tennis Gear for Beginners
Tennis Equipment for Intermediate
Advanced
Tennis Equipment for Institutional Use
By Sales Channel:
Dedicated Stores
Dedicated e-Commerce
Specialty Retailers
Multi-Brand Stores
Online Retailers
By Region:
North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
Middle East & 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.
The hybrid vehicles market is experiencing significant growth, with a projected market size of over US$ 232 billion in 2023, expected to reach a staggering valuation of US$ 1.6 trillion by 2033.
This growth is being driven by several key factors.
Firstly, increasing per capita and disposable income worldwide have led to a rise in demand for personal vehicles and passenger cars. However, concerns about carbon emissions from traditional combustion engine vehicles have also been rising due to environmental awareness and surging fuel prices. As a result, there is a growing demand for alternative vehicles that offer lower emissions and improved fuel efficiency.
Hybrid vehicles have emerged as a popular choice among consumers seeking environmentally friendly transportation options. The hybrid vehicles market is expected to thrive due to their ability to reduce carbon emissions and offer better fuel efficiency compared to traditional vehicles.
In Japan, the hybrid vehicles market is particularly robust, with an anticipated valuation of about US$ 8,633.9 million in 2023. Japanese consumers perceive hybrid vehicles as dependable, safe, and easy to use, leading to a willingness to pay a premium price for these vehicles. Despite the increasing popularity of electric vehicles, many Japanese consumers still prioritize hybrid vehicles due to their perceived value and environmental benefits.
Overall, the hybrid vehicles market is poised for significant growth globally, driven by increasing demand for eco-friendly transportation solutions and the advantages offered by hybrid technology in reducing carbon emissions and fuel consumption.
Key Takeaways from Hybrid Vehicles Market Report:
In 2018, the global market size stood at US$ 90,798.9 million.
The market expanded at a CAGR of 20.7% from 2018 to 2022.
In 2022, the global market size stood at US$ 192,712.4 million.
The United States captured 30.4% of global market shares in 2022.
India captured 22.8% of global market shares in 2022.
China captured 24.3% of global market shares in 2022.
The United Kingdom captured 22.2% of global market shares in 2022.
The hybrid vehicles segment captured 32.2% of global market shares in 2022.
The passenger cars segment acquired 27.6% of global market shares in 2022.
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
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.
In 2023, the global bamboo products market is poised to reach a substantial valuation of US$ 73,432.4 million, with projections indicating significant growth potential driven by increasing focus on sustainability and reduction of plastic waste. Forecasts suggest a robust Compound Annual Growth Rate (CAGR) of 6.0%, propelling the market size to an impressive US$ 131,506.2 million by 2033. This trajectory underscores the escalating demand for eco-friendly alternatives and the expanding adoption of bamboo-based products across various industries. Stakeholders are positioned to capitalize on this momentum by aligning their offerings with consumer preferences for sustainable and environmentally friendly solutions.
Growing consumer awareness of durable, environmentally friendly products and infrastructure development initiatives. It is expected that these elements will propel the growth of the global business.
Sales of bamboo goods are being driven by manufacturers’ adoption of sustainable building and construction materials as a result of rising investments in infrastructure development. Growing customer knowledge of the advantages of bamboo could keep driving market demand.
With a CAGR of 6.0%, automatic bamboo products dominate the market.
The United States market is forecast to increase at a steady 7% CAGR through 2033. the United States bamboo products market is projected to offer an absolute dollar opportunity of US$ 5.15 billion, with the market valuation reaching US$ 12.3 billion by 2033.
Sales of bamboo products in China are expected to grow at a robust 9% CAGR through 2033, providing an absolute dollar opportunity of US$ 1.9 billion over the forecast period
Based on product type, sales in the building and construction segment are expected to remain high over the forecast period.
Top Manufacturers of Bamboo Products and their Recent Developments
Some of the key players in the bamboo products market are:
MOSO International BV
Bamboo Village Company
Kerala State Bamboo Corporation
Shanghai Tenbro Bamboo Textile Company
Smith & Fong Company
Huayu Group
Pappco Greenware
Xiamen HBD Industries and Trade Company
Bamboo Master
Meysher Industrial Group
Jiagxi Bamboo Technology Development Company Ltd.
Recent Developments:
Mosol International BV launched MOSO Bamboo X-treme curved decking boards in March 2022 that come with a 25-year warranty for decking and roofing. MOSO Bamboo X-treme curved decking boards’ unique properties include high stability, an anti-slip finish, and resistance to moisture, mold, and termites.
As part of India’s National Bamboo Mission launched in 2018, the mission encourages the conservation and cultivation of bamboo, as well as strengthening the marketing of bamboo products such as handicrafts. The mission has launched several initiatives that provide access to credit, knowledge, and markets to craftsmen and small enterprises involved in bamboo-based business activities.
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.
The automotive interior leather market is poised for steady growth, with a projected Compound Annual Growth Rate (CAGR) of 4.5% between 2023 and 2033. By 2033, the market is expected to reach a market share of US$ 54.27 billion, compared to a valuation of US$ 34.94 billion in 2023.
Several factors are driving this growth, including high expenditure driving rapid development in the automotive sector. As consumer preferences continue to shift towards vehicles offering superior comfort and visual appeal, the demand for automotive interior leather is expected to rise. This trend is particularly prominent in midrange and premium passenger vehicles, where automotive interior leather is widely used to enhance the overall aesthetics and feel of the vehicle interior.
Overall, the automotive interior leather market is set to experience steady growth over the forecast period, driven by increasing consumer demand for vehicles with enhanced comfort and visual appeal, especially in the midrange and premium segments.
Key Takeaways
Over the historical period, the global market grew at a CAGR of 3.9%.
By 2033, the global market is expected to be worth US$ 54.27 billion.
In 2022, Asia Pacific had the highest proportion of revenue of more than 42%.
In terms of revenue, the passenger vehicle segment surpassed the automotive interior leather marketplace with a share of more than 51.5% in 2022.
The sum vehicle sales in the United States reached 16.60 million in January 2021, up from 16.30 million in December 2020, as reported by Trading Economics.
“Growing demand for replacement and aftermarket deployment of interior leather is expected to benefit the market substantially. This creates prospects for both newcomers and veteran competitors to gain traction. As a result, better custom demand solutions for drivers is anticipated to emerge” says FMI analyst.
Competitive Landscape
Some of the market’s strongest competitors are making investments in studies and research (R&D) in order to facilitate the provision of an extensive selection of leather manufactured in a variety of colors and substances for a variety of applications. Companies hope to keep up with the changing environment by doing so. For instance,
Sage-ONF, a synthetic leather creator and vendor, began serial manufacturing of silicone artificial leather for automobile interiors in July 2022. In response to high demand from consumers, the sage-ONF plant has begun manufacturing in Shanghai, China.
ILM organized an exclusive virtual forum in December 2021 that brought together important stakeholders from across the automobile leather distribution network to shed illumination on the key advancements as well as short to long-term circumstances that will impact the sector in the months and decades to come.
Some of the leading companies operating in the market are
Lear Corporation
Seiren Co., Ltd
GST AutoLeather Inc
BOXMARK Leather GmbH & Co KG
Bader GmbH & Co. KG
Katzkin Leather,Inc.
Leather Resource of America
WOLLSDORF LEDER SCHMIDT & Co. Ges.m.b.H.
DK Leather Corporation
Scottish Leather Group Limited
Global Automotive Interior Leather Market by Category
Material Type:
Genuine Leather
Synthetic Leather
PU Leather
PVC
Vehicle Type:
Passenger Cars
Compact
Mid-Sized
Sedan
Luxury
Van
Light Commercial Vehicles
Heavy Commercial Vehicles
Application:
Upholstery
Dashboard
Seat belts
Air-bags
Floor & trunk carpets
Headliners
Others
Sales Channel:
OEM
Aftermarket
Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
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.
The market for outbound tourism from China is anticipated to grow at a robust 14.1% CAGR between 2022 and 2032, with sales predicted to surpass US$ 184,201 million in 2022. The market’s expansion is attributable to China’s travel industry’s increasing growth. The report projects that by 2032, the market for outbound travel from China will exceed US$ 690,719 million.
China’s outbound market stands out for its size and quick expansion in departures and spending. Destinations worldwide are more eager to draw into this market due to the steady increase in Chinese tourists’ spending abroad. The wealthiest regions of China’s east and southeast are where most of the country’s international tourism is produced.
The leading travel destinations for Chinese visitors are neighboring nations in North- and South-East Asia and Hong Kong, Macao, and Taiwan Province of China. Chinese tourists are increasingly traveling to emerging locations.
Moreover, there is a surge in millennials traveling overseas which causes increased use of online platforms for the collection of related information as well as tour booking. China has the world’s largest population, making it the best market for outbound travel. With the economy increasing, China’s Outbound Travel Market is set to attain new heights.
“China outbound travel market to benefit from increasing disposable income, affordable travel abroad, and growing preference for clean and scenic location trips.” Says an FMI analyst.
By booking channel, the online booking segment is anticipated to hold a share of nearly ~80%.
In terms of age group, demand in the youngsters in the age group 15-25 years and 26-35 years will continue gaining traction through 2032 due to increasing travel trends, enthusiasm to travel and rising income.
Based on packages, China outbound travelers will continue to opt packaged deals over the normal travel deals.
Rising trend of tourism on social media is expected to result in significant growth of China outbound travel market.
Who is winning?
Leading players in China outbound travel Market are focusing on strategic alliance with various local tour operators to diversify business service portfolio. Also market leaders are emphasising on advertisement and promotional activities to attract various tourist across the country.
The leading players in China outbound travel market
Future Market Insights, in its new offering, provides an unbiased analysis of the China Outbound travel Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the China Outbound travel Market by Tourism Types (Business, Leisure, VFR & Others) Booking Channel (Phone Booking, Online Booking & In Person Booking) Tour Type (Independent Traveller, Package Traveller and Tour Group) Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, 66-75 Years)- Forecast to 2017 – 2032
China Outbound travel Market by Category
By Purpose:
Business
Leisure
VFR
Others
By Booking Channel:
Phone Booking
Online Booking
In Person Booking
By Tour Type:
Independent Traveler
Tour Group
Package Traveller
By Age Group:
15-25 Years
26-35 Years
36-45 Years
46-55 Years
56-65 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.
The lightweight automotive body panels market is poised for substantial growth, with a projected value of US$ 122,054.9 million in 2023 and an anticipated increase to US$ 191,369.2 million by 2033. Sales in this market segment are forecasted to experience a noteworthy Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period.
Several factors are expected to drive this growth. Firstly, rising environmental concerns are pushing automakers to produce vehicles with reduced emissions and improved fuel efficiency. This has led to an increased focus on lightweighting strategies, including the adoption of lightweight automotive body panels, to enhance vehicle performance while minimizing environmental impact.
Furthermore, the growing electric vehicle (EV) sector is contributing to the demand for lightweight automotive body panels. EV manufacturers are prioritizing lightweight materials to extend driving range and improve overall efficiency, thus driving the adoption of lightweight body panels in the automotive industry.
Overall, the combination of environmental concerns and the growth of the EV sector is expected to fuel significant growth in the lightweight automotive body panels market during the forecast period.
Key Segments Covered in Lightweight Automotive Body Panels Market Analysis
By Material Type:
Metals
High-strength Steel
Magnesium
Aluminum
Polymers & Composites
Carbon Fiber Reinforced Plastics
Glass Fiber Reinforced plastics
Other Polymer & Composite Materials
By Component Type:
Bumpers
Hood
Door Panels
Trunk Lids
Roof
Others
By Vehicle Type:
Light Commercial Vehicle
Heavy Commercial Vehicle
By Region:
North America
Latin America
Europe
East Asia
South Asia Pacific
Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
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.
The Erythritol market is predicted to develop at a 7.6% CAGR from 2023 to 2033, above the 7.2% CAGR witnessed between 2018 and 2022. The market value of erythritol climbed significantly from US$ 225.86 million in 2023 to US$ 449.6 million in 2033, indicating rising demand for the sugar substitute. This growth rate increase is indicative of this trend.
A number of factors have contributed to the recent significant growth in the erythritol market. One of the primary causes is the rising desire from consumers for sugar alternatives that are healthier and lower in calories. Erythritol is a naturally occurring sugar alcohol that comes from fruit or maize. It has a low glycemic index, no calories, and doesn’t promote tooth decay. An increasing number of food and beverage applications are using erythritol as a prominent ingredient as consumers want to cut back on sugar and become more health conscious.
Sustained Growth Projection: The Erythritol market is anticipated to witness a robust 7.6% CAGR from 2023 to 2033, indicating a steady surge in demand for Erythritol as a sugar substitute and a substantial market value rise from US$ 225.86 million in 2023 to US$ 449.6 million in 2033.
Consumer-Driven Expansion: Increased consumer demand for healthier, low-calorie sugar substitutes propels the Erythritol market forward. Derived from fruit or maize, Erythritol’s natural origins, zero calories, and low glycemic index make it an attractive component in various food and beverage applications.
Limiting Factors: Despite its popularity, the Erythritol market faces challenges such as the high production cost compared to other sweeteners and taste characteristics, including a cooling effect. These factors could hinder widespread adoption.
Opportunities Amidst Challenges: Opportunities emerge from the growing prevalence of diabetes, obesity, and lifestyle disorders, positioning Erythritol as a desirable sugar alternative. Additionally, the rising demand for clean-label and natural food products opens avenues for Erythritol as a natural sweetener.
The market’s growth, meanwhile, is threatened by a few limitations. The high cost of erythritol’s production in compared to other sweeteners is one of the main obstacles, which could prevent its widespread use. Further impediments to commercial expansion include the availability of other low-calorie sweeteners and the taste characteristic of erythritol, which may have a cooling effect.
Despite these constraints, the Erythritol industry offers a number of opportunities. The rising frequency of diabetes, obesity, and other lifestyle disorders makes Erythritol an attractive sugar alternative. Furthermore, the rising popularity of clean-label and natural food items opens the door to the usage of Erythritol as a natural sweetener. Market participants may capitalize on these possibilities by investing in R&D to increase production efficiency, lower prices, and improve the taste profile of Erythritol. Furthermore, strategic alliances and collaborations with food and beverage makers can assist increase market reach and create novel Erythritol-based products to meet changing customer tastes.
Market Dynamics by Region:
United States Growth: The market in the United States is forecasted to grow at a CAGR of 4% in 2022, highlighting a steady pace of expansion.
UK’s Health Conscious Trajectory: The United Kingdom is expected to exhibit a CAGR of 5.5% by 2033, driven by increasing consumer awareness and a preference for healthier sugar substitutes.
India’s Stable Trajectory: India is projected to witness a CAGR of 5.8% in 2033, showcasing stable development as the country recognizes Erythritol’s advantages in managing diabetes and weight.
China’s Robust Rise: China is set to experience a remarkable CAGR of 11.8% by 2033, fueled by growing consumer health consciousness and the expanding food and beverage industry.
Japan’s Moderate Growth: Japan’s market is forecasted to grow at a CAGR of 5% in 2022, indicating a stable yet moderate growth trajectory.
Competitive landscape
The Erythritol market’s competitive environment is characterized by numerous competitors fighting for market supremacy. Cargill, Incorporated, Jungbunzlauer Suisse AG, Shandong Sanyuan Biotechnology Co., Ltd., Foodchem International Corporation, and Mitsubishi-Kagaku Foods Corporation are some of the market’s major rivals.
These firms have a significant market presence and provide a comprehensive selection of Erythritol goods to meet the demands of their customers. They concentrate on product innovation, quality assurance, and increasing distribution networks to gain a competitive advantage. Furthermore, strategic alliances, acquisitions, and collaborations are frequent methods used by these rivals to strengthen their market position and capitalize on the expanding demand for Erythritol as a low-calorie sweetener and sugar alternative.
Cargill is a global leader in Erythritol, providing high-quality Erythritol as a low-calorie sweetener and ingredient for a wide range of food and beverage applications.
Jungbunzlauer specializes in the development of natural Erythritol obtained from fermentation, offering the market sustainable and non-GMO choices.
Sanyuan Biotechnology is well-known for its large manufacturing capacity and diverse Erythritol products, including granular and powdered forms.
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.
The global horse riding equipment market is to register a CAGR of 4% during the forecast period of 2020 and 2030. Future Market Insights (FMI) provides insights into the Horse Riding Equipment market’s analysis’s shortcomings and future opportunities. The growth trend of the world market for horse riding equipment is shown.
In the same way as other sports, artificial intelligence is leading to disruptions in water-sports industry. Immersive visual reality sports specially designed equipment are the current focuses of attention.
Fashion trends have played a pivotal role in shaping the thriving horse riding equipment market, paralleling the emphasis on performance within the sport itself. Over the years, renowned brands like U.S Polo have spearheaded fashion innovation within the equestrian realm. Offering an array of products ranging from t-shirts to team jerseys and boots, the brand has established itself as a quintessential part of the sport’s culture. According to Future Market Insights, the global landscape of horse riding equipment will be heavily influenced by fashion trends, with a particular focus on sophistication and minimalism, underscoring the evolving preferences of riders worldwide.
The virtual sporting experiences are driven by the Internet of Things IoT aside from that they need smart sensors, gamification and custom gear. Using virtual reality gear, sports enthusiasts can race against other participants at the same time eliminate direct risks associated with real watersports.
Consumer goods have improved over the past ten years as digitalization has spread around the world. Companies are adapting their go-to-market strategies and capabilities in response to the shift in customer preference toward online markets.
Industry players are adapting to the “digital era” and placing more and more dependence on internet platforms to draw in customers. Through a variety of digital channels, e-penetration commerce’s into the consumer goods market has brought about some very amazing transformations. The market report analysis provides in-depth perspectives on the situation as it stands.
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.
In the rapidly expanding food industry, Corn Silage Market has Came to be a revolutionary. Its nutrient-rich profile and cost-effectiveness have captured the attention of farmers and food manufacturers alike. With an increasing demand for sustainable and high-quality livestock feed, the Corn Silage market is set to soar, shaping the future of agriculture.
Corn Silage Market has emerged as a revolutionary force in the quickly growing food business. Both farmers and food producers are interested in it because of its nutrient-rich profile and affordability. The market for maize silage is expected to rise due to the growing demand for high-quality, sustainable animal feed, which will have a significant impact on agriculture going forward.
The market for maize silage is anticipated to expand at a CAGR of 7.1% during the forecast period. By 2022 and 2032, the market is projected to be valued US$ 342.4 million and US$ 677.33 million, respectively. Dairy and beef cattle normally eat maize silage in their diets. Cattle can get vital nutrients from maize silage.
Because of its high-calorie content and ease of digestion, ruminants frequently eat it. Premium silage is made from late-harvested maize leaves that are brown and lifeless. Furthermore, weight-loss corn from a drought or excessive heat can be used to make silage.
India is the world’s largest producer and consumer of milk, producing 186 million tonnes and consuming 77.7 million tonnes respectively per year. Because the economies of these countries rely so heavily on the production, consumption, and export of milk, it is essential to maintain the milk’s quality and nutritional value.
The milking cattle obtain these nutrients with the aid of maize silage. The market expansion for maize silage is anticipated to be boosted by the factors listed.
India is the world’s largest producer and consumer of milk, producing 186 million tonnes and consuming 77.7 million tonnes respectively per year. Because the economies of these countries rely so heavily on the production, consumption, and export of milk, it is essential to maintain the milk’s quality and nutritional value.
The milking cattle obtain these nutrients with the aid of maize silage. The market expansion for maize silage is anticipated to be boosted by the factors listed.
Key Takeaways:
Steady Growth Trajectory: The Corn Silage market is set for a steady growth rate with a CAGR of 7.1% from 2022 to 2032.
Revenue Projections: The market is expected to expand significantly, reaching a valuation of US$ 677.33 million by 2032, indicating rising demand and potential opportunities.
Global Market Dynamics: In 2022, the United States emerged as the leading market for Corn Silage, capturing a substantial share, followed by notable growth in India and other regions.
Diverse Applications: Corn Silage finds applications in milking and beef cattle feed, presenting a wide range of opportunities.
Increasing Demand for Corn Silage due to Associated Health Beneficial Factors
Because countries like India, the European Union, and the United States are the leading milk producers, there are a lot of cattle to feed. For the cow to produce milk with a high nutritional content, high-content feed and pasture are necessary. For these economies and producers, maintaining the premium quality and nutritious content of milk in the fiercely competitive market is essential.
Producers are becoming more attentive to and cautious with the feed they give their cattle as consumer awareness of the nutritional worth of meals grows. The necessity for the milk to maintain its nutritional value is driving up demand for maize silage.
Once prepared, maize silage has a shelf life of about two years and has a higher nutritional content than other forms of feed. Climate change is causing severe drought conditions in several places, which results in an unequal production of cattle feed globally.
due to the advantages and better option for closing the supply-demand gap and boosting the economy In the 5th edition of the India Maize Summit in 2018, the Ministry of Agriculture and Farmers Welfare of the Government of India announced PPP (Public-Private Partnership) chances for constructing maize-based silage units. Due to the numerous investment prospects created by this action, maize silage is now in high demand on the international market.
Competitive Landscape and Key Players:
United Agro Feeds
BF Global Trading Pty Ltd
Krishna Multicomm Private Limited
Lakkavaram Silage Fodder Pvt. Ltd.
Qadir Exports
Explore Enterprise
Ambica Enterprise
Bac Quang Trading Investment JSO
Gralimex Import Export Joint Stock Company
Palaya Eco Natural Farm Corporation
Pt. Arkananta Lestari Energina
AMT International
Hang Xanh International Co. Ltd.
Nong Trai Xanh
Innovations and Development in Global Corn Silage Market
As of now, there is no major supplier for Corn Silage as corn farmers directly sell it to cow-keeper as feed. This can also cause inconsistent feed with uneven distribution of nutrients. Manufacturers have identified this as an opportunity to supply Corn Silage as a feed for milking and beef cows to provide them with essential nutrients.
Manufacturers are aiming at producing high-quality silage which is fermented, high moisture content. This helps in reducing the volume of feed hence lessening the cost to store feed and restore all the essential nutrients required by cattle and sheep.
Manufacturers are acquiring state-of-the-art technology for 100% computerization and procedure control mechanism for keeping up the consistent quality and nutrition value throughout all the batches of silage. These technologies are partnered up with government institutions for striving up the dairy market and countries economy.
Current trends/issues/challenges pertaining to Corn Silage industry
Competition landscape and emerging market participants in Corn Silage industry
Technology related to production/processing of Corn Silage
Value chain analysis of the Corn Silage industry
Regional Analysis Includes
North America (U.S., Canada)
Latin America (Mexico, Brazil, Rest of Latin America)
Europe (Germany, U.K., France, Italy, Spain, BENELUX, Poland, Russia, Nordic, Rest of Europe)
East Asia (China, Japan, South Korea)
South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
Oceania (Australia, New Zealand)
Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
The Corn Silage market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
The report also features a complete qualitative and quantitative assessment by analysing data gathered from industry analysts and market participants across key points in the industry’s value chain.
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