Smart Water Grid Market: Anticipated 6.5% CAGR Leading to a Valuation of US$ 48,683.6 Million by 2033

Global Smart Water Grid Market Poised for Remarkable Growth

The smart water grid Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the smart water grid market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for smart water grid. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The smart water grid market, which boasted a substantial worth of US$ 27,620.8 million in 2022, is poised for an extraordinary upswing. Forecasts suggest an impressive compound annual growth rate (CAGR) of 6.5%, driving its value to an astonishing US$ 48,683.6 million by 2033. The smart water grid industry is set for remarkable expansion, thanks to a convergence of compelling factors that position it as a symbol of innovation and efficiency.

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Driving Factors Accelerating Growth:

  1. Cost-Effectiveness: The smart water grid’s intrinsic ability to optimize resource allocation and reduce operational costs is proving to be a game-changer for businesses and municipalities alike. By harnessing cutting-edge technologies such as IoT and data analytics, cost savings are achieved through the minimization of water wastage and infrastructure maintenance expenses.
  2. Unparalleled Efficiency: In an era where efficiency is paramount, smart water grids have emerged as a beacon of hope. They enable real-time monitoring and data-driven decision-making, ensuring swift responses to leakages and supply fluctuations. This heightened efficiency is a boon to businesses and governments seeking to enhance service quality while preserving resources.
  3. Time & Energy Savings: The smart water grid’s automation capabilities translate into substantial time and energy savings. Streamlined operations, predictive maintenance, and reduced downtime translate into an optimized workflow, freeing valuable resources for other critical tasks.
  4. Reliability Redefined: The reliability quotient of smart water grids is off the charts. The ability to foresee issues, proactively address them, and maintain consistent water supply even in the face of unexpected events is transforming how we perceive water management. This newfound reliability is instrumental in ensuring uninterrupted water access for all.

Challenges on the Horizon:

Despite the promising growth trajectory, the global smart water grid market does face certain challenges:

  1. Initial Investment: The adoption of smart water grid technology often requires a significant initial investment, which can be a deterrent for some organizations. However, it is essential to view this as a long-term investment that yields substantial returns in terms of cost savings and efficiency gains.
  2. Data Security Concerns: With the integration of digital technologies, data security becomes a paramount concern. Safeguarding sensitive information and ensuring protection against cyber threats are vital considerations in the smart water grid ecosystem.

Key Takeaways:

  • Smart City Growth: The development of smart cities, particularly in emerging economies like India and other developing nations, is a significant driver for the smart water grid industry.
  • Global Smart City Projects: Approximately 200 smart city projects are currently underway worldwide, indicating a global trend towards urban development that relies on advanced technologies.
  • Improving Urban Water Infrastructure: Smart water grids, comprising interconnected devices that collect and exchange data with other devices and data centers, play a pivotal role in enhancing urban water infrastructure.
  • Utilizing IoT and ICT: The growth of smart cities is closely linked to the adoption of IoT (Internet of Things) and Information and Communications Technologies (ICT) to address urban living challenges and optimize resource utilization.
  • Quality of Life Enhancement: The primary goal of these technologies is to improve the quality of life in urban areas by ensuring more efficient use of limited resources, including water.
  • Meeting Rising Water Demand: As smart cities expand, there is a growing demand for water. Smart water grids are instrumental in meeting this demand by securing access to clean water resources and efficiently distributing water through urban networks.

Competitive Landscape Overview:

In the global smart water grid market, prominent manufacturers are actively pursuing innovation and advancements to solidify their market presence. Notably, several key companies are forging strategic partnerships with top-tier national logistics firms and government entities. These collaborations are geared towards expeditious product delivery while upholding product quality and durability.

Simultaneously, market leaders are implementing a multifaceted approach, which includes investments, partnerships, acquisitions, and mergers, to expand their market share. Furthermore, they are keenly dedicated to adopting novel strategies and leveraging evolving technologies to enhance the overall performance of water grids.

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Key Players:

  • Xinapse Systems Ltd, Prezi Inc.
  • ICT, co., Ltd.
  • Wetsus
  • The Whitmore Group
  • ABB Group
  • Arqiva
  • Toshiba Corporation
  • Neptune Technology Group Inc.
  • Schneider Electric
  • Badger Meter, Inc.

Key segments

By Technology:

  • Smart Infrastructure
  • Control & Automation
  • ICT & Analytical Software
  • Design & Engineering

By Application:

  • Residential
  • Commercial
  • Utility

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Synchronous Condenser Market: Investment Opportunities with CAGR of 8.4 % and US$ US$ 2,381.08 Million Projected by 2033

The global synchronous condenser market is predicted to register a valuation of US$ 1,102.90 million in 2023 and reach up to US$ 2,381.08 million by 2033. The global market is estimated to progress at a CAGR of 8.4% during the forecast period.

Opportunities in the Synchronous Condenser Market

Advanced Control Systems: Manufacturers are developing advanced control systems integrated with the Internet of Things to improve the capabilities and performance of synchronous condensers, attracting end users’ needs. These condensers are maintaining costs, monitoring real-time data, and operating remotely, bringing lucrative opportunities to the market.

Energy Storage: The increasing adoption of energy storage technologies with synchronous condensers is driving market opportunities. These combinations enhance voltage support, frequency regulation, and grid resilience.

Customized Solutions: Manufacturers offer diverse synchronous condenser designs to satisfy end users’ requirements. They are developing unique and customized grid stability for effective solutions and are advancing the market opportunities.

Hybrid Power Plants: The rising hybrid power plants are increasing the demand for synchronous condensers with renewable energy sources for a stable power supply. These power plants offer sustainable energy to support grid stability and are capturing end users’ attention.

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Global Expansion: Manufacturers are growing renewable energy industries in the international market by offering clean energy sources and advanced grid solutions. They are expanding their reach with high-quality power supply solutions.

Research and Development: Key players are investing huge amounts of money in research and development activities to offer compact and efficient synchronous condensers. They are adopting advanced and eco-friendly materials to design these condensers to reduce environmental impact.

Cybersecurity Solutions: Rising digitalization is advancing the energy sector by offering cybersecurity solutions to reduce errors and hacks and protect data.

Educational Programs: The establishment of training and educational programs to understand grid operation and maintenance is increasing the demand for synchronous condensers.

These are some of the opportunities that manufacturers are bringing to shine in the global market.

“Rising demand for electricity around the globe is significantly increasing the adoption of highly efficient and advanced synchronous condensers. The manufacturers are focusing on developing sustainable power supply solutions to expand their market reach and increase their profits,” says an analyst at FMI.

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Key Takeaways:

  • The synchronous condenser marketis expected to grow at a CAGR of 8.4% from 2023 to 2033.
  • The United States is expected to register a CAGR of 7.2% through 2033.
  • Canada is anticipated to capture a CAGR of 7.7% through 2033.
  • India is anticipated to register a CAGR of 9.3% over the forecast period.
  • China significantly drives the global market with a CAGR of 9.2% through 2033.
  • With a CAGR of 7.7% from 2023 to 2033, the United Kingdom is rapidly advancing in the global market.
  • The hydrogen cooled is estimated to lead the global market during the forecast period.

Key Players Uplift the Synchronous Condenser Market

Key players are playing a vital role in the global market by innovating cost-effective, high-quality, and improved products for their customers. They are heavily invested in research and development activities to fulfill consumers’ demands.

These players are adopting various marketing strategies to capture high revenue in the global market, including mergers, acquisitions, product launches, collaborations, and partnerships. These players are focusing on capturing consumers by launching affordable products to attract them.

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Key Segments in the Global Synchronous Condenser Market

By Product:

  • New synchronous condenser
  • Refurbished synchronous condenser

By Cooling Type:

  • Air cooled
  • Hydrogen cooled
  • Water cooled

By Power Rating:

  • Less than 50 MVAR
  • 50 to 80 MVAR
  • 80 to 100 MVAR
  • 100 to 150 MVAR
  • 150 to 200 MVAR
  • Above 200 MVAR

By Starting Method:

  • Static frequency converter
  • Pony motors
  • Others

By End Use:

  • Electrical power utilities
    • Electric grids
    • Solar farms
  • Mining
  • Commercial
  • Others

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Glass Tempering Systems Market Gears Up for Remarkable Growth, Expected to Achieve a Valuation of US$ 108.9 Billion by 2033

The Glass Tempering Systems Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Glass Tempering Systems market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Glass Tempering Systems. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The global glass tempering systems market is poised for significant expansion and is expected to reach a valuation of approximately US$ 71,389.8 million by the conclusion of 2023. This noteworthy trajectory reflects a reinvigorated industry, marked by a robust adoption rate across critical sectors such as automotive, architecture, and electronics. Forecasts suggest a consistent and substantial Compound Annual Growth Rate (CAGR) of 4.8% during the period from 2023 to 2033, ultimately resulting in an impressive valuation of approximately US$ 108,864.8 million by the year 2033.

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Driving Factors Accelerating the Global Glass Tempering Systems Market

  1. Thriving Automotive Industry: The automotive sector, a perennial powerhouse of innovation, is fervently embracing glass tempering systems. Enhanced safety and design aesthetics have become paramount, driving the demand for tempered glass in vehicle manufacturing. This thrust is compelling automakers to integrate advanced tempering technologies into their production processes.
  2. Architectural Advancements: Aesthetic excellence, energy efficiency, and security are pivotal in modern architectural designs. Glass, due to its versatility, has become the cornerstone of these architectural advancements. Glass tempering systems play a pivotal role in ensuring the durability and safety of architectural glass, leading to a surge in their adoption within the construction industry.
  3. Electronics on the Rise: The relentless march of technology places ever-increasing demands on electronic devices. Tempered glass is a linchpin in the production of durable, shatter-resistant screens for smartphones, tablets, and other gadgets. As consumer electronics continue to proliferate, so too does the demand for glass tempering systems.
  4. Stringent Safety Regulations: Governments and regulatory bodies worldwide are becoming more stringent in their safety regulations, particularly in sectors like automotive and construction. Glass tempering systems offer compliance with these rigorous standards, making them indispensable in ensuring product safety and adherence to regulations.
  5. Sustainability Surge: With the global emphasis on sustainability and environmental responsibility, tempered glass is gaining traction due to its recyclability and energy-efficient properties. Businesses are leveraging this trend to meet the demands of eco-conscious consumers and reduce their carbon footprint.

Challenges Hindering Market Growth

While the glass tempering systems market is primed for unprecedented growth, it is not without its challenges:

  1. High Initial Investment: Implementing advanced glass tempering systems requires a significant upfront investment. This can be a deterrent for smaller businesses looking to enter the market or upgrade their existing equipment.
  2. Intensive Technological Expertise: Operating and maintaining tempering equipment demands a high level of technical expertise. Businesses may face challenges in sourcing and retaining skilled personnel.
  3. Fluctuating Raw Material Costs: The cost of raw materials for tempered glass, particularly high-quality glass, can fluctuate due to market conditions. This can affect profit margins and pricing strategies.
  4. Global Supply Chain Disruptions: The glass industry, like many others, is susceptible to supply chain disruptions, including raw material shortages and transportation bottlenecks. These disruptions can impact production schedules and delivery times.

Key Takeaways: Integration of Advanced Technologies in Glass Tempering

  • Automation in Flat Tempering: Key manufacturers are adopting advanced technologies to automate flat tempering processes, streamlining production and improving efficiency.
  • Online Stress Calculation: The use of an online stress calculation solution, which leverages process data, helps in real-time assessment of temperature and stress distribution during quenching in the tempering process.
  • Tempering Process Autopilot: Automation reduces the need for constant operator input, offering precise process control without manual adjustments, enhancing efficiency and consistency.
  • Benefits for Customers: Customers benefit from these innovations with increased bed utilization, leading to improved energy efficiency, greater capacity, enhanced quality, repeatability, and enhanced operational safety.
  • Predictive Maintenance: Machines equipped with these technologies can proactively manage predictive maintenance, minimizing downtime, and can suggest spare part replacements when needed, optimizing overall equipment performance.

Competitive Landscape

Leading manufacturers of glass tempering systems are aggressively expanding their customer base by actively participating in global exhibitions, where they showcase their cutting-edge products and innovations. Additionally, they maintain a relentless focus on enhancing their existing product portfolios while simultaneously developing innovative, high-quality, and dependable products. Merger and acquisition activities are also a strategic imperative for these companies, aimed at bolstering their global presence.

Furthermore, these manufacturers are deeply committed to the integration of artificial intelligence (AI) in automating the glass tempering process. For instance, on August 17, 2022, Glaton Corporation unveiled its latest advancement in automating flat tempering, introducing an online stress calculation solution that utilizes real-time process data to compute temperature and stress distribution within the quenching segment of the tempering process.

Notable recent developments in this dynamic industry include:

  • In 2020, Hegla significantly expanded its foothold in the glass processing sector by introducing the CTF series of flat glass tempering furnaces.
  • In May 2021, Glaston Corporation entered into a strategic partnership with Softsolution, an Austria-based manufacturer specializing in quality assurance systems for the glass industry. This collaboration marks a substantial leap forward in advancing glass quality inspection within heat treatment processes.
  • In 2018, TaiFin successfully sold its CTF tempering furnace to Garibaldi Glass Industries, underlining its commitment to providing cutting-edge solutions to meet the evolving needs of the glass industry.

Key Players:

  • LiSEC Austria GmbH
  • Luoyang Landglass Technology Co. Ltd.
  • Luoyang North Glass Technology Co., Ltd.
  • Keraglass Industries Srl .
  • SAS VILUX
  • CoolTemper Ltd
  • Lambert GT Services Ltd
  • IGE Glass Technologies, Inc
  • Saint-Gobain SA.
  • EFCO

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Key Segments Covered in Glass Tempering System Industry Analysis

By Tempering Technology:

  • CHQE
  • Standard Configuration
  • Advanced Configuration
  • Chemical Treatment

By Application:

  • Flat
  • Continuous
  • Oscillating
  • Bent
  • Combined Flat and Bent

By End Use:

  • Automotive Window
  • Architectural
  • Windows And Façade
  • Mirror & Partitions
  • Furniture
  • Electronics
  • Smartphone
  • Appliances
  • Solar Applications
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

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About Us

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.   
Christiana Corporate,
200 Continental Drive, 
Suite 401, Newark, 
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T: +1-845-579-5705
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Odour Control System Market: CAGR of 4.8% and US$ 1.99 Billion Expected by 2033, with a 4.8% CAGR

The odour control system Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the odour control system market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for odour control system. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The odour control system market is poised for a meteoric rise, with projections indicating a significant valuation of US$ 1.19 billion in 2022 and an anticipated surge to US$ 1.25 billion by the close of 2023. This remarkable trajectory is underpinned by a robust compound annual growth rate (CAGR) of 4.8%. By 2033, the global odour control system market is expected to reach an impressive market worth of US$ 1.99 billion.

Driving Factors Fueling Global Odour Control System Market Growth:

  1. Environmental Regulations and Compliance: Stringent environmental regulations imposed by governing bodies across the globe are compelling industries to invest in odour control systems. Compliance with these regulations is not merely a choice but a necessity, driving the adoption of odour control solutions.
  2. Industrial Expansion: The burgeoning industrial landscape, especially in emerging economies, is generating a higher demand for odour control systems. As industrial activities expand, so does the need to mitigate odour emissions to ensure a harmonious coexistence with surrounding communities.
  3. Urbanization and Population Growth: Rapid urbanization and population growth have led to the development of residential areas in close proximity to industrial zones. This proximity necessitates efficient odour control measures to address potential odor nuisances.
  4. Technological Advancements: Advances in technology have led to the development of more efficient and cost-effective odour control solutions. Innovations such as biofiltration and chemical scrubbers are enhancing the efficacy of odour control systems.
  5. Health and Quality of Life Concerns: Increasing awareness about the impact of odour emissions on public health and quality of life is driving individuals, communities, and industries to invest in odour control systems as a proactive measure.

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Challenges Restraining Market Growth:

  1. Cost Constraints: The initial investment required for installing odour control systems can be substantial, posing a challenge for some businesses, particularly smaller ones. However, the long-term benefits often outweigh these upfront costs.
  2. Complex Regulatory Landscape: Navigating the complex landscape of environmental regulations and compliance standards can be daunting for businesses. Adherence to evolving regulations necessitates ongoing adjustments and investments.
  3. Technological Adaptation: While technology is a driving force, its rapid evolution can pose challenges in terms of keeping up with the latest innovations and ensuring that systems remain up-to-date.

Key Market Trends and Highlights

Waste-to-Energy Projects:

  • Rising importance of renewable energy sources fuels waste-to-energy initiatives.
  • Odour control systems are crucial to mitigate emissions, ensuring eco-friendly energy production and social acceptance.

Electronics Manufacturing:

  • Data centers and electronics manufacturing facilities require odour control systems.
  • Necessary for protecting sensitive equipment from corrosive gases, ensuring stable operations.

Legal Cannabis Market Expansion:

  • Legalization drives indoor cannabis cultivation.
  • Specific odour control systems are vital to manage potent odours and meet regulatory requirements.

Public Transportation:

  • Odour control systems are essential for enhancing air quality.
  • Improve lavatory cleanliness and passenger comfort, leading to better service and increased traveler satisfaction.

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Competitive Landscape

The market is characterized by intense competition among major players, presenting a fragmented structure. To enhance their market presence, these firms employ various strategies, including mergers, acquisitions, collaborations, and partnerships. These strategic maneuvers enable companies to expand their global operations and enhance their product offerings, particularly in specific geographic regions.

As numerous businesses focus on advancing sophisticated and cost-effective system types and technologies, it is anticipated that industry competitiveness will further intensify. Major competitors are currently prioritizing the provision of affordable and low-maintenance products to secure a substantial market share. Additionally, primary industry players are allocating significant resources to research and development efforts, aiming to deliver superior system types.

Key Players:

  • Babcock & Wilcox Enterprises, Inc.
  • CECO Environmental.
  • Anguil Environmental Systems, Inc.
  • Evoqua Water Technologies LLC
  • Scotmas Limited
  • Ecolab Inc.
  • Tholander Ablufttechnik GmbH

Segmentation Analysis of the Odour Control System Market

By System:

  • Physical Odour Control
    • Adsorption System
    • Ozone Generators
  • Chemical Odour Control
    • Chemical Scrubbers
    • Thermal Oxidizers
  • Biological Odour Control
    • Biofilters/Biotrickling Filters
    • Bio Scrubbers

By Application:

  • Waste Treatment Facilities
  • Food & Beverages
  • Pulp & Paper
  • Chemical & Petrochemical
  • Other Industries

By Region:

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

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.
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Quad-Flat-No-Lead Packaging Market Surges: Global Valuation Set to Skyrocket from US$ 62 Billion to Over US$ 235 Billion by 2027

The Quad-Flat-No-Lead Packaging Market, valued at approximately US$ 62 billion, is on an upward trajectory projected to exceed a staggering US$ 235 billion by the end of 2027. This remarkable growth is anticipated during the forecast period of 2017-2027, driven by a substantial compound annual growth rate (CAGR) of 13.1%.

The thriving global Quad-Flat-No-Lead Packaging Market is poised for substantial expansion, fueled by various factors shaping its landscape.

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Global Quad-Flat-No-Lead Packaging Market: Factors Influencing Growth

Factors such as rising demand for wireless applications, growing adoption of portable devices, small form factor, enhanced thermal performance, rising applications in the automobile sector, high electrical performance and increased reliability are boosting adoption and consequently the growth in revenue of the global quad-flat-no-lead packaging market. However, aspects such as changing price of raw materials, more space needed by QFN packaging, wirebond challenge, high competition with WLCSP and BGA, high cost and problems associated with assembling the QFN package are hindering the growth of the global market.

Global Quad-Flat-No-Lead Packaging Market: Segmental Snapshot

The global quad-flat-no-lead packaging market is segmented on the basis of type, QFN variants, application and by region.

  • By type, the plastic moulded QFNs segment is expected to reflect high market attractiveness and is the largest segment. The plastic moulded QFNs segment is estimated to reach a value higher than US$ 180 Bn by the end of the year of forecast thus dominating the global market. Air-cavity QFNs segment is projected to grow at a higher pace in the coming years.
  • By QFN variant, the quad-flat-no-lead segment is anticipated to reach a noteworthy valuation by the end of the assessment period. The ultrathin quad-flat-no-lead segment is projected to grow at the fastest rate to register a CAGR of 14.4% throughout the period of assessment.
  • By application, the radio frequency devices segment is estimated to be valued at around US$ 26 Bn in 2017 and is likely to lead the global market. The wearable devices segment is projected to register the fastest growth rate of 0% owing to increased use of quad-flat-no-lead packaging in wearable devices.
  • By region, Asia Pacific excluding Japan reflects high growth potential. The quad-flat-no-lead packaging market in Asia Pacific excluding Japan is projected to grow at the highest rate and is estimated to be the largest among all other regional markets, thus dominating the global market.

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Global Quad-Flat-No-Lead Packaging Market: Forecast Highlights

The global quad-flat-no-lead packaging market is anticipated to reach a value higher than US$ 235 Bn by the end of the year of assessment from a valuation of more than US$ 68 Bn in 2017. The global market for quad-flat-no-lead packaging is projected to grow at a stellar CAGR of 13.1% throughout the period of forecast.

Global Quad-Flat-No-Lead Packaging Market: Competitive Assessment

The research report on the global market for quad-flat-no-lead packaging includes analysis on key players and presents vendor insights in a dedicated chapter. Intelligence on key players such as NXP Semiconductor, Fujitsu Ltd., Toshiba Corporation, Texas Instruments, Microchip Technology Inc., STATS ChipPAC Pte. Ltd., ASE Group, Amkor Technology, UTAC Group, Linear Technology Corporation, Henkel AG & Co., and Broadcom Limited has been included in this chapter.

Market Segmentation

By Type

  • Air-Cavity QFNs
  • Plastic-moulded QFNs

By QFN Variants

  • Very thin quad flat no-lead (VQFN)
  • Ultrathin quad flat no-lead (UQFN)
  • Quad flat no-lead (QFN)
  • Others

By Applications

  • Radio Frequency Devices
  • Wearable Devices
  • Portable Devices
  • Others

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

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Author:

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

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

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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Booming Growth Ahead: Frozen Potato Market Set to Surpass US$ 104,348.9 million by 2033, Offering Compelling Investment Potential

Frozen Potato Market

The global frozen potato market size is anticipated to record substantial growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is poised to exceed a valuation of US$ 60,887 million in 2023. It is anticipated to reach a valuation of US$ 104,348.9 million by 2033. The market is predicted to exhibit a striking CAGR of 6% from 2023 to 2033.

As global potato output is increasing, food manufacturers are getting more opportunities to introduce a wide range of potato-based food products, both fresh and frozen, resulting in a surge of new product launches in recent years.

Moreover, the excellent nutritional content of frozen potato products is also one of the fundamental reason for their rising consumption.

For example, according to the United States Department of Agriculture, 100 grams of potatoes provide around 4% of the RDA for calorie consumption, 6% of the RDA for carbohydrates, 9% of the RDA for dietary fiber, 4% of protein, and 33% of the RDA for vitamin C, among other nutritional intake requirements.

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Key Takeaways from Market Study

  • The frozen potato market is expected to expand at 2.7% and 5.9% CAGR in North America and Latin America, respectively through 2032.
  • The Europe frozen potato market is expected to witness CAGR of 3.5% over the forecast period.
  • Among the product type segment, potato fries are expected to hold significant share of 42.6% in 2022 and it is expected to grow with significant CAGR of 2.9% over the forecast period.
  • The commercial use segment is expected to account for 83.6% in 2022 and it is expected to grow at CAGR of 3.5% over the forecast period.
  • Among the distribution channels, the B2B segment will hold 73.4% share in 2022 and it is expected to grow with CAGR of 3.4% over the forecast period.

“Sales of frozen potato products will rise considerably as consumers around the globe are shifting to plant-based fast foods in response to concerns about the environmental impact of meat consumption,” says a analyst.

Competitive Landscape

Understanding the ongoing demand for frozen potato products several food product manufacturers are entering into the frozen potato market by introducing their own from potato range.

  • On January 2021, Aviko who is one of the world’s biggest manufacturers of chips and added value potato products launched its frozen potato range.
  • In 2017, Amul one of the leading milk co-operative launched its frozen potato products in India.

Market Segmentation

By Product Type:

  • Potato Fried
  • Potato Wedges
  • Stuffed Potatoes
  • Potato Slices
  • Potato Chunks
  • Potato Dices
  • Baked Potato
  • Others

By End-user:

  • Commercial Use
  • Residential Use

By Distribution Channel:

  • B2B
  • B2C
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Specialty Stores
    • Retail Stores
    • Online Retail

By Region:

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

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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Rapid Growth Projected: Kombucha Tea Market to Reach US$ 5.4 Billion by 2033, Offering Lucrative Investment Opportunity

Kombucha Tea Market

The kombucha tea market is projected to expand its roots at a steady CAGR of 12% during the forecast period. The market is likely to hold a revenue of US$ 1.72 billion in 2023 while it is anticipated to cross a value of US$ 5.4 billion by 2033.

One of the key drivers of the global kombucha tea market is the growing need for convenient packaging. Busy lives and time restrictions around the world have raised demand for on-the-go meal options.

This is growing sales of portable kombucha tea. To capitalise on this, important manufacturers are introducing appealing packaging that increases the shelf life of kombucha tea storage.

Kombucha tea manufacturers are also continually offering consumers more inventive flavour options. The kombucha tea innovation is done to suit consumer demand for a healthy and nutritious drink while maintaining the product’s flavour, taste, texture, and nutritional qualities.

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Key Takeaways from Market Study

  • Organic kombucha tea is expected to grow at a lucrative 13.8% CAGR during the forecast period.
  • North America kombucha tea market is expected to dominate the global market in 2022, with a share of around 24.1% by 2032
  • In terms of sales channels, modern trade is expected to have a dominant share in 2022
  • Online retail stores are expected to grow at a rapid pace during the forecast period.
  • In terms of product type, green tea is expected to dominate the global market in 2022
  • Black kombucha tea is expected to grow at a rapid pace during the forecast period.

 “Manufacturers of kombucha tea are focusing on increasing product transparency. They are also putting together dedicated teams to devise legal marketing strategies to ensure proper kombucha tea representation to woo consumers.” says a analyst.

Competitive Landscape

Kombucha tea manufacturers are introducing new products to cater to consumers’ diverse preferences and tastes.  Kombucha tea market trends such as changing consumer preferences toward non-alcoholic beverages and increased consumption of healthier beverages, key players are focusing on expanding their product portfolio.

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global kombucha tea market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Kombucha Tea Market by Category

By Nature:

  • Organic
  • Conventional

By Product Type:

  • Green Tea
  • Black Tea
  • Oolong Tea
  • Others

By Flavor Type:

  • Regular/Unflavored
  • Flavored

By Sales Channel:

  • Modern Trade
  • Convenience Stores
  • Traditional Grocery Stores
  • Specialty Stores
  • Online Retail Stores
  • Others

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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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Global Wine Fermentation Equipment Market Envisions US$ 2,173.3 Million Valuation by 2033, Propelled by a Steady 4.0% CAGR Growth

The global wine fermentation equipment market is positioned for substantial expansion, showcasing a steadfast Compound Annual Growth Rate (CAGR) of 4.0%. From its initial valuation of US$ 1,468.2 million in 2023, the market is anticipated to reach an impressive US$ 2,173.3 million by 2033, marking a flavorful odyssey of progress on the global stage.

At the heart of this captivating trajectory lies the intricate and almost mystical process of wine fermentation—an alchemical transformation that elevates humble grape juice into the revered nectar of the gods. This awe-inspiring journey unfolds as the market experiences significant expansion from 2023 to 2033, driven by the extraordinary reaction wherein yeast, nature’s precision catalyst, adeptly consumes the sugars within grape juice. This transformative process yields both carbon dioxide and the sought-after elixir we recognize as alcohol, encapsulating the very essence of wine.

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Wine Fermentation Equipment Market Flourishing in the USA: Driven by Relaxed Trade Duties

The wine fermentation equipment market in the USA is poised for remarkable growth, with a projected CAGR of 38% over the next decade, according to insights from FMI. This surge in demand can be attributed to the enduring fascination with wine, acting as a driving force for manufacturers to innovate and introduce novel products.

Notably, the relaxation of trade duties and tariffs within the country is anticipated to further amplify the appeal of wine. The Wine Institute reports that wine consumption per capita in the USA stood at 3.18 gallons in 2021, showcasing a promising increase from the 3.07 gallons recorded in 2020.

Germany’s Surging Interest in Wine Fermentation Equipment: Fueled by Sensorial & Premium Brands

Germany stands at the forefront of Europe’s burgeoning wine production, witnessing a twofold growth. This growth can be attributed to a growing consumer inclination towards sustainable and health-conscious food and beverage products. FMI predicts a steady CAGR of 4.4% for the German wine fermentation equipment market during the evaluation period.

In Germany, wine consumption has become intertwined with a luxurious and affluent lifestyle, prompting consumers to seek diverse and distinctive tastes. This trend has prompted key players to introduce sensorial and premium brands, catering to the evolving preferences of German consumers.

China’s Emerging Role as a Thriving Hub for Wine Fermentation Equipment:

The wine fermentation equipment market in China is poised for rapid expansion, driven by factors such as flavor innovation and premiumization of wine products. FMI predicts a substantial growth trajectory for this market segment. Notably, the introduction of exclusive wines tailored to Chinese tastes and preferences is steering the growth of wine fermentation equipment sales.

In August 2022, Penfolds, a flagship Australian wine brand owned by Treasury Wine Estates, unveiled an exclusive wine offering for the Chinese market. The Penfolds Tribute 177, crafted from Californian grapes, was introduced exclusively at China’s VATS Liquor Store, a renowned national spirits and wine distributor.

The UK’s Dynamic Wine Fermentation Equipment Market: Embracing Innovation

The UK is anticipated to be a rapidly evolving market for wine fermentation equipment, as per FMI’s projections. This growth is being fueled by the growing demand for wine in diverse hospitality establishments, including cafeterias, hotels, quick-service restaurants, and full-service restaurants.

A prevailing trend among millennials and Generation Z is the penchant for premiumization, drawing long-term revenues for key players in the UK. The introduction of canned wine products by various wine-making companies in the country, offering enhanced convenience and portability, is further propelling market growth.

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Key Players:

  • Adamark air knife system
  • Agrovin
  • Criveller Group
  • DT pacific LTD.
  • G.W.kentinc.
  • LoeMueller Company Inc
  • Grapeworks Pty Ltd
  • Vitikit Ltd

Wine Fermentation Equipment Market Outlook by Category:

By Product:

  • Tank and Fermenters
  • Crushing and Pressing Equipment
  • Temperature Control Equipment
  • Filtration Equipment

By Application:

  • Commercial Kitchen
  • Household Kitchen
  • Others

By Region:

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

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Author:

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

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

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

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

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

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
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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Global Tea Processing Equipment Market Aims for US$ 25.4 Billion Valuation by 2033, Driven by Strong 6.4% CAGR Growth

The global tea processing equipment market is poised to attain a valuation of US$ 12.8 billion by 2023, projecting a robust Compound Annual Growth Rate (CAGR) of 6.4% from 2023 to 2033. By the close of the decade, an impressive valuation of US$ 25.4 billion is anticipated, emphasizing the enduring global preference for tea.

At the core of this growth trajectory is the pivotal role played by tea processing equipment, serving as the cornerstone for large-scale production of this beloved beverage. Manufacturers rely on a diverse array of specialized machines to expertly transform tea leaves into the variety of teas cherished by millions worldwide. These machines encompass various categories, including tea sorting equipment, orthodox tea machines, fibre extractors, CTC (Crush, Tear, Curl) tea processing equipment, tea drying equipment, tea grading equipment, and tea powder grinding machines.

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Driving Forces in the Global Tea Processing Equipment Market:

The global market for tea processing equipment is on an upward trajectory, fuelled by the escalating consumption of diverse tea variants, encompassing black tea, green tea, and decaffeinated tea. This trend is expected to persist throughout the forecast period.

Likewise, the surge in tea exports and advancements in manufacturing technologies are poised to propel the tea processing equipment market during the upcoming decade.

While the black tea sector currently commands the largest share of tea processing equipment consumption, it is the green tea segment that is predicted to outpace all others in the forecast period. This projected dominance is attributed to the burgeoning worldwide production and consumption of green tea.

Key Insights from the Study on Tea Processing Equipment Market:

  • Rising Momentum in CTC Tea Processing: Among processing techniques, the CTC tea processing machines segment is poised for robust growth, exhibiting a higher Compound Annual Growth Rate (CAGR) during the forecast period.
  • Automation’s Swift Ascent: In terms of automation grade, the automatic segment is projected to demonstrate the most rapid expansion between 2023 and 2033, indicating a shift towards enhanced automated processes.
  • U.S. Leading the Way: Presently, the U.S. commands a significant share, accounting for approximately 20% of the global tea processing equipment market, reflecting its dominant stature.
  • China’s Accelerated Market Surge: China’s tea processing equipment market is anticipated to experience the swiftest growth rate over the upcoming decade, underlining its dynamic progression.
  • North America’s Steady Growth: The tea processing equipment market in North America is expected to sustain steady growth, with an estimated CAGR of 6.13% between 2023 and 2033, showcasing consistent advancement.

Leaders Emerging in the Field:

FMI’s assessment points to notable industry leaders in the tea processing equipment market, including Steelsworth, Marshall Fowler Engineers, Kawasaki Kiko, Bharat Engineering Works, and G.K Tea Industries.

These prominent players are actively embracing a spectrum of organic and inorganic approaches, such as introducing novel products, engaging in mergers, acquisitions, collaborations, and partnerships. These strategic maneuvers are instrumental in solidifying their competitive advantage within the market.

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Tea Processing Equipment Market by Category:

By Processing Technique:

  • CTC Tea Processing Machine
  • Orthodox Tea Processing Machine

By Process Components:

  • Tea Sorting equipment
  • Tea Powder grinding
  • Tea Rolling machine
  • Fermenting Machine
  • Tea Drying equipment

By End-use Industry:

  • Black Tea Industry
  • Green Tea Industry
  • Oolong Tea Industry
  • Others (Bubble tea, Yellow Tea, Decaffeinated tea etc.)

By Automation Grade:

  • Automatic
  • Semi-Automatic
  • Manual

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

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Author:

Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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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Beer Market Outlook: Projected to Reach US$ 1,679.5 Billion by 2033, Driven by Global Consumption

Beer Market

The global beer market value is set to reach a valuation of US$ 759.1 billion in 2023. This value is predicted to ascend to around US$ 1,679.5 billion by 2033. Notably, Sales of beer are poised to demonstrate a substantial CAGR of 7.6% throughout the forecast period.

Alcoholic beverages are produced by fermenting malt, wheat, molasses, fruits, botanicals, and other components. Fermentation and distillation are performed based on the sort of drink to be produced. Beer and wine are not distilled, but spirits are produced by distilling a fermented base. Distillation processes vary depending on the type of drink, such as steeping, percolation, and so on.

Beer can be brewed in a variety of methods, but the main ingredients are malted grains (such oats, barley, or rye), yeast, and hops (flowers). The malt is principally responsible for the hue, while all of the listed ingredients contribute to the beer’s flavour. It is a common misperception that darker beers contain more hops than pale kinds or are “bitter”. Often, the contrary is true, but the general guideline is to never judge a beer solely on its appearance.

Alongside this, a consistent growth is being observed since past few years for preference for low ABV (alcohol by volume) drinks. Owing to this, the sales of low-alcohol or no-alcohol beers is expected to escalate in the near future. This can be attributed to the rising interest of health-conscious consumers in drinks with low alcohol content and a wider choice of new flavored beers with improved taste. Due to the above-listed factors, the demand for beer is predicted to surge over the forecast period (2022-2032).

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Key Takeaways from Market Study

  • Europe is expected to dominate the global beer market, accounting for the maximum value share of about 28% by 2022 end, followed by North America
  • The U.S. is expected to account for the maximum share of nearly 80% of the North America beer market
  • By product type, lager is expected to account for the maximum market value share by 2022 end
  • Higher income groups and working population have an increased spending capacity which is likely to increase the demand for beer in the near future
  • Online channel is expected to show an impressive growth as compared to all the other channels over the assessment period (2022-2032)

 “The demand for beer is increasing globally because of the growing consumption by the millennial population. Beer flavoring is used as a taste enhancer for beer and other alcoholic drinks, which is expected to influence the demand for beer in the coming decade”, says a Future Market Insights analyst.

Competitive Landscape

Key market participants are following different marketing and promotional strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to address the needs of the consumers and serve accordingly, thus, creating a larger customer base in the coming years.

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global beer market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

By Product Type, Global Beer Market is segmented as:

  • Ale
  • Lager
  • Stouts
  • Others

By Packaging, Global Beer Market is segmented as:

  • Can
  • Bottle
  • Glass
  • Others

By Production, Global Beer Market is segmented as:

  • Macro-brewery
  • Microbrewery
  • Craft Brewery
  • Other

By Distribution Channel, Global Beer Market is segmented as:

  • Direct
  • Indirect
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Specialty Stores
    • Independent Retailers
    • Online Retailers

By Region, Global Beer Market is segmented as:

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

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Frequently Asked Questions

  • At what value is the beer market expected to reach?
  • At what rate is the global beer market expected to grow?
  • What strategies are adopted by the key players in the beer market?
  • What percent of share does the top 10 companies in the beer market hold?
  • Which are the major countries driving demand for beer?

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