Market Research Blog – Page 3535 – New Product Development

Food Service Equipment Market Set to Reach New Heights Projected to Soar to US$ 82,099.3 Million by 2034

The global Food Service Equipment Market is undergoing a paradigm shift, driven by rising takeout orders, evolving eating habits, and a booming hotel industry. The market is set to surge at a robust CAGR of 5.6% from 2024 to 2034, propelled by digitization, the demand for sustainable equipment, and stringent consumer safety regulations. Technological advancements and changing societal norms are reshaping the landscape of end-user equipment, with a focus on innovation and sustainability.

The market is witnessing a surge in demand for visually appealing, multi-functional cooking equipment, fueled by the growing preference for convenience and automated technologies. The rise of ghost kitchens, coupled with an increased emphasis on energy-efficient solutions, is driving market expansion. Quick-service restaurants (QSRs) are anticipated to play a pivotal role, supported by a growing middle class and a surge in disposable income.

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Key trends shaping the food service equipment market include the integration of smart technology, a need for modular and adaptable equipment, and a heightened focus on sustainability. Manufacturers are responding to the rising demand for eco-friendly options by introducing equipment designed to reduce food waste and extend the shelf life of perishable items.

Key Takeaways from the Food Service Equipment Market Study:

The global market is expected to rise at a CAGR of 5.6% by 2034.
The United States is projected to surge at a CAGR of 4.3% by 2034.
Based on equipment type, the cooking equipment segment is expected to hold a market share of 43.3% in 2024.
By end-use, the hotel segment is projected to account for 20.3% market share in 2024.
The global market is expected to reach US$ 82,099.3 million by 2034.

“Food service equipment, including mixers, blenders, ice-cream machines, dishwashers, ovens, grills, and slicers, are being used more frequently as quick-service restaurants gain popularity. Integrating IoT and data analytics with food service equipment, including smart inventory management systems, touchscreen kiosks, integrated cooking equipment, and smart kitchens, contributes to waste reduction and increased restaurant efficiency,” says Nandini Roy Choudhury, Client Partner at Future Market Insights

Competitive Landscape

Leading companies in the market are Electrolux Professional, Dover Corporation, Middleby Corporation, Duke Manufactures, and Tupperware Hobart Corporation. The increasing use of environmentally friendly technology equipment is directing key players to concentrate on business plans that benefit their companies, such as joint ventures, mergers, and acquisitions.

Manufacturers are working with solution providers to offer equipment that is focused on the client’s needs and addresses food waste by supermarkets, hypermarkets, and grocery shops. Furthermore, technical developments and the Internet of Things specifications define the food service equipment industry.

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Key Companies Profiled

Rational AG
LG Electronics
Robert Bosch
Samsung Electronics
ACP Solution Inc.
Philips Electronics
Selecta
Haier Inc.
Illinois Tool Works
Electrolux Professional
Dover Corporation
Middleby Corporation
Duke Manufactures
Meiko
Tupperware Hobart Corporation
Ali Group SpA
Panasonic Corporation
Welbit

For instance,

In 2020, Middleby Corporation acquired Zhuhai Guangdong, a China-based United Food Service Equipment Group.
In May 2022, Welbilt, Inc. launched the Smart Restaurant Ecosystem.

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Food Service Equipment Market Segmentation

By Equipment:

Food Preparation Equipment
Drink Preparation Equipment
Cooking Equipment
Heating and Holding Equipment/ Buffet Service Equipment
Table Tops
Food Safety and Sanitation Equipment
Small Wares (1 Unit = 6 Pieces)
Dishwashers
Bar Supplies (Set)
Refrigerators and Chillers
Baking Equipment
Storage and Shelving Equipment
Food Packaging and Wrapping Equipment
Dinnerware (Set)
Glassware (1 Unit = 6 Pieces)

By End-use Industry:

Hotels
Fine Dine Restaurants
Casual Dining Restaurants
Fast Food and Quick Service Restaurants
Cafeteria
Institutional Canteens and Catering
Bakery
Commercial Kitchens
Travel Retail Services (Airways, Ships, Railways)
Household

By Sales Channel:

Online
Offline

By Region:

North America
Latin America
Europe
East Asia
South 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 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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Europe Second-hand Apparel Market: Set to Achieve 8.4% CAGR Growth by 2032, Reflecting Rising Demand for Sustainable Fashion Choices

The European second-hand apparel market is poised to achieve a valuation of US$ 18,100 million in 2022, with an anticipated surge in demand driving its value to US$ 40,676 million by 2032, representing an impressive compound annual growth rate (CAGR) of 8.4% throughout the forecast period. This growth trajectory reflects a growing consumer preference for sustainable fashion options, coupled with economic considerations and shifting attitudes towards pre-owned clothing. As awareness of environmental issues continues to rise, the appeal of second-hand apparel is expected to resonate strongly with European consumers, fueling the market’s expansion over the next decade.

Wherever the talks about fashion sustainability take place, vintage and second-hand clothing always have an important role to play. This is due in part to their relatability: people have amazing thrift shop buys and old stuff they cherished for years. But the cultural significance of these goods could be rather intricate.

Russia and Eastern Europe are the places associated with second-hand shops buying a previously worn garment was seen as proof of poverty in Soviet times. Things are changing in the newer generations. 25% of the second-hand customer’s clothing is made up from preowned apparel, thus making second hand market very popular.

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The fear of a recession may cause a reversal in the profitability trend, just as the cost-of-living problem may encourage individuals to transform their clothes into an additional source of revenue. In addition, significant progress has been made in privacy and product-authentication standards, making it simpler and safer for individuals to market their items online.

Second-hand fashion also caters to the demand for exclusivity among customers. It has numerous celebrity admirers, including Zendaya, who has frequently appeared on the red carpet wearing vintage clothing. Lorde and Rihanna, both singers, are admirers of the second-hand trend. All of these variables will continue to influence the industry during the forecast period.

Key Takeaways from the Europe Second-hand Apparel Market Study

Spain second-hand apparel market is expected to be worth US$ 1,900 Mn in 2022, growing at 6% CAGR from 2022 to 2032.
Sales of second hand apparels in Russia are expected to surge at 9.1% CAGR from 2022 to 2032.
In terms of product type, the sweater and coats & jackets segments will witness highest growth over the forecast period.
By sales channel, online retailers are expected to generate maximum revenue across Europe for second hand apparels.

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“Businesses that enters the resale market may assist to ease consumers’ concern about counterfeiting. However, in order to thrive in this new retail environment, brands and retailers will need to develop and adopt creative business strategies that represent the changing nature and evolving customer habits.” Says an FMI Analyst.

Who is winning?

Leading players operating in the Europe & Spain Second-hand Apparel market are:

Vinted
Ebay
Vestaire Collective
StockX
Depop
Artpal
Etsy
Rubylane
Amazon
Spoonflower
Farfetch
Yaga
F&P Stock Solutions
Garson & Shaw
Others (as per request)

Europe Second-hand Apparel Market by Category

By Product Type:

Dresses & Tops
Shirts & T-Shirts
Sweater
Coats & Jackets
Jeans & Pants
Others

By Sector:

Resale
Traditional Thrift Stores & Donations

By Target Population:

Men
Women
Kids

By Sales Channel:

Wholesalers/Distributors
Hypermarkets/Supermarket
Multi-brand Store
Independent Small Stores
Departmental Stores
Online Retailers
Other Sales Channel

By Country:

Spain
Germany
United Kingdom
France
Italy
Russia
Ukraine
Netherlands
Poland
Hungary
Rest of Europe.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the Europe & Spain second-hand apparel market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Europe second-hand apparel market by product type (dresses & tops, shirts & t-shirts, sweater, coats & jackets, jeans & pants, and others), by sector (resale, traditional thrift stores & donations), by target population (men, women, kids), by sales channel (wholesalers/distributors, hypermarkets/supermarket, multi-brand store, independent small stores, departmental stores, online retailers, other sales channel) & Country (Spain, Germany, U.K., France, Italy, Russia, Ukraine, Netherlands, Poland, Hungary & Rest of Europe).

Author

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

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

About Future Market Insights (FMI)

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

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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Injectable Drug Delivery Market is poised to play a pivotal role in the evolving landscape of healthcare, with a projected CAGR of 8.9% by 2033

The global injectable drug delivery market is poised for an extraordinary expansion, projected to witness a remarkable Compound Annual Growth Rate (CAGR) of 8.9% over the forecast period. Recent market analysis reveals a substantial surge from its 2023 valuation of US$ 45.3 Billion to an estimated US$ 106.4 Billion by 2033, indicating a monumental transformation in healthcare dynamics.

This surge in the injectable drug delivery sector signifies a rapidly evolving landscape, propelled by innovative delivery mechanisms and patient-centric solutions. These advancements address the escalating demand for efficient, precise, and user-friendly medication administration across diverse therapeutic areas.

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Injectable drug delivery systems have emerged as a cornerstone in healthcare, playing a pivotal role in meeting the escalating demand for enhanced medical care. Their significance lies in providing patients with streamlined treatment options and healthcare providers with improved avenues for precise medication administration.

Key factors driving this exponential growth include technological advancements enabling novel delivery mechanisms, coupled with a heightened focus on patient welfare and treatment efficacy. These developments underscore the industry’s commitment to fostering innovation in healthcare, optimizing therapeutic outcomes, and ensuring patient comfort.

The projected trajectory of the injectable drug delivery market signifies a transformative period, revolutionizing healthcare paradigms worldwide. As this sector continues to evolve, it not only offers promising prospects for stakeholders but also paves the way for enhanced patient care, aligning with the evolving needs of the healthcare ecosystem.

Key Research Findings:

Increase in demand for point-of-care devices and reduced reliance on healthcare facilities are driving the growth of the global injectable drug delivery market
North America will be the dominant regional market for injectable drug delivery devices due to early adoption of advanced technologies
Most of the major players operate from the U.S., which makes the U.S. the leading market for injectable drug delivery devices in North America
In Europe, a large number of diabetes patients are switching towards needle-free injectable drug delivery devices from conventional injections since it is a painless process and reduces the risk of needle stick injuries
Disposable injectors are the most commonly available type of injectors since they are user friendly and do not require special skills for administration
Prefilled needle-free injectors are the most preferred type of injectors since they are much easier to administer than the fillable type
Price control for most of the injectable drug delivery devices is fierce. For instance, Mylan was pressurised to launch the generic version of the EpiPen to reduce the price of the product in the market. However, this has declined the revenue of the company.
In developed regions, such as North America and Europe, hospitals are the dominant distribution channel due in injectable drug delivery due to the reimbursement policies
The growing competition in the emerging market and the rising demand for injectable drug delivery are the future opportunities for the growth and expansion of the injectable drug delivery market.

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Major Contributors of the Injectable drug delivery Market are:

Amgen Inc.
Antares Pharma Inc.
Becton Dickinson and Company
Consort Medical Plc (Bespak)
Crossjet
Medtronic plc,
Mylan N.V.
SHL Group
West Pharmaceutical Services
Ypsomed

Key Segments:

Product Type:

Self Injector
Needle Free Injectors
Auto-Injectors
Wearable Injectors
Insulin Pens

Technology:

Non-Smart Injectors
Smart Injectors

Usage:

Disposable Injectors
Reusable Injectors

Indication:

Anaphylaxis
Diabetes
Cardiovascular disease
Multiple Sclerosis
Rheumatoid Arthritis
Cancer

Distribution Channel:

Hospital Pharmacies
Drug Stores
Retail Pharmacies
Online Pharmacies

By Region:

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

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Gellan Gum Market to Exceed Valuation of USD 85.1 million by 2032: Future Market Insights, Inc.

The Gellan Gum Market is on an upward trajectory, anticipating significant growth from $56.4 million in 2022 to $85.1 million by 2032, with a commendable 4.2% CAGR. This surge is primarily attributed to the dominance of the food segment, contributing to over 50% market share in 2022. Gellan gum, a versatile hydrocolloid, finds extensive use in food and beverage products globally, especially in dairy, protein-fortified beverages, and nut milk.

Manufacturers are strategically increasing production capacity, leading to a competitive landscape. The market exhibits diverse applications, with segments like seafood, personal care, and cosmetics displaying noteworthy CAGR figures. The pharmaceuticals segment is poised to exceed $85.1 billion by 2032, showcasing a robust yearly growth rate.

Country-wise insights indicate substantial growth in North America’s fast-food industry and the Latin America region’s food and beverages industry. Europe, particularly Western Europe, is expected to maintain a significant market share, driven by the dairy products sector.

China emerges as a leader in the Asia-Pacific region, while APEJ experiences rapid volume growth. The Asia Pacific food segment is forecasted to grow at a CAGR of 5.7%, with the beverages sub-segment expanding at a notable 6.4% CAGR until 2026.

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Demand of the Market

The increasing demand for gellan gum stems from its pivotal role as a hydrocolloid substitute, addressing the growing needs of the food and beverage industry globally. With a focus on enhancing product suspensions, gellan gum is becoming indispensable in protein-fortified beverages, nut milk, and various food applications. The forecasted surge in the pharmaceuticals segment further amplifies the market’s demand, offering a diverse array of applications across industries.

Growing Factor:

The growth of the Gellan Gum Market is propelled by the dynamic food and beverage sector, where it serves as a key ingredient. Its adaptability as a hydrocolloid substitute and its role in enhancing suspension properties in diverse products contribute to its increasing adoption. Manufacturers’ strategic capacity expansions, coupled with the rising popularity in sectors like seafood, personal care, and cosmetics, are key factors driving the market’s growth. The pharmaceuticals segment’s substantial growth further adds to the overall expansion, making gellan gum a sought-after ingredient in various industries.

Key Deterrents for Growth in Global Gellan Gum Consumption

Procuring raw materials required for production of gellan gum remains to be a major challenge for manufacturers. Complex techniques used for formulating gellan gum from lactose or glucose inhibits their production among local players that have a modest manufacturing infrastructure.
Gellan gum is now being actively substituted by alternative hydrocolloids such as xanthan, pectin and gelatine, which are cheaper to produce and easier to harvest from raw materials. The consumption of carrangeenan, among such hydrocolloids, is projected to gain traction as opposed to gellan gum.

Nevertheless, several companies in the global food & beverage industry will continue to prefer gellan gum as organic thickeners for products such as jellies, soups and packaged yogurts. Leading gellan gum manufacturers in the world are expanding their production capacity, primarily focusing on delivering gellan gum products for food & beverage applications. Royal DSM, a prominent manufacturer of gellan gum, recently acquired manufacturing plants in China, while CP Kelco made headlines for expanding the production capacity of its San Diego plant.

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Dancheng Caixin Sugar Industry Co. Ltd., Zhejiang Tech-Way Biochemicals Co. Ltd., Hangzhou Gellan Solutions Biotec Co. Ltd., Zhejiang DSM Zhongken Biotechnology Co. Ltd., Meron Group, Hebei Xinhe Biochemical Co. Ltd., Fufeng Group, and Inner Mongolia Rainbow Biotech Co. Ltd., are gellan gum manufacturers based in APEJ countries such as China and India. In terms of global market value, APEJ gellan gum market will account for over one-third share throughout the forecast period. US-based CP Kelco will continue to account for over 70% of global gellan gum revenues, making North America a dominant region in the global gellan gum market through 2032.

Global Gellan Gum Market Segmentation

Product Type

High Acyl Content
Low Acyl Content

Application

Food
Confectionary
Jams and Jellies
Fabricated Foods
Water-based Gels
Pie Fillings and Puddings
Dairy Products
Processed Meat
Beverages
Personal Care and Cosmetics
Industrial and Household Cleaners
Pharmaceuticals
Others

Region

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
MEA

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GCC Shisha Tobacco Market: Projected Growth at 6.1% CAGR by 2032 Signals Continued Demand for Traditional Smoking Practices

In 2022, the GCC shisha tobacco market is poised to reach a value of US$ 949.4 million, with a projected compound annual growth rate (CAGR) of 6.1% anticipated between 2022 and 2032. By the end of this period, sales in this market are forecasted to exceed US$ 1,724.3 million. This growth trajectory underscores the enduring popularity of shisha tobacco in the Gulf Cooperation Council (GCC) region, fueled by cultural traditions and evolving consumer preferences. With increasing disposable income and a burgeoning hospitality sector, the demand for shisha tobacco is expected to sustain its upward momentum in the years ahead.

Food and other related industries because they are dangerous to backward life in this era of diseases being more prevalent have a major focus on biologically lethal elements. This issue is now more often narrowed to the close examination of cigarettes alternative in the industry. Water pipe smokers may have a little break away from the stern grasp of the researches in a short while, but the truth is going to be well-known in the future that it is actually harmful. In a while, regulations and restrictions imposed on shisha tobacco market might be the consequences of current research and development.

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For instance, Hookain, the famous shisha tobacco brand, now sells non-nicotine steam stones and conventional shisha tobacco. They are produced from natural soapstone soaked in molasses and have “an extra 30% of flavor to compensate for the lack of nicotine while simultaneously offering an explosion of pure taste.” Athletes frequently swap them for traditional tobacco products. At least in the GCC market, nicotine-free alternatives such as steam stones will be the dominant trend of the future, pushing the evolution of shisha smoking.

Key Takeaways from the Shisha Tobacco Market Study

In terms of sales channel, direct sales segment is expected to account for maximum sales in the GCC shisha tobacco market.
By product type, the strong shisha tobacco segment is expected to gain traction over the upcoming decade.
Based on flavor, the fruit flavors are expected to witness immense growth in the GCC shisha tobacco market
UAE shisha tobacco market is projected to witness robust growth in the GCC shisha tobacco market between 2022 and 2032

“Leading manufacturers in the GCC shisha tobacco market have increased their R&D efforts in order to extend their product range and produce a product which is less harmful for health. Businesses are focusing on new potential markets in order to grow their consumer base and establish a stronger regional presence.” Says an FMI analyst.

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Who is winning?

Leading shisha tobacco manufacturer are focusing on aggressive promotional techniques, commercials, and new product launches to boost shisha tobacco sales growth in GCC. Major players present in the shisha tobacco market are-

Al-Eqbal Company for Investment PLC
Gulbahar Group
Samara Premium Tobacco Molasses
MSG Group of Companies
Romman Shisha Ltd
Middle East Tobacco Co. Ltd
Al Zawrae Industrial Company
Ugly Tobacco Hookah Inc.
Eastern Tombac & Tobacco Establishment
BMJ Industries
Debaj Tobacco Factory L.L.C
Royal Hookah UAE
AL MUFASA GEN.TRD. LLC

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GCC Shisha Tobacco Market by Category

By Product Type:

Strong Shisha Tobacco
Mild Shisha Tobacco
Light Shisha Tobacco

By Flavor:

Fruit
Chocolate
Caramel
Mint
Blended
Others

By End User:

Beginner/ New Diver
Casual Diver
Active Diver
Advanced/ Professional Diver

By Sales Channel:

Direct Sales
Hypermarkets/ Supermarkets
Specialty Stores
Convenience Stores
Independent Small Stores
Online Retailers
Other Sales Channel

By Country:

KSA
United Arab Emirates(UAE)
Bahrain
Kuwait
Qatar
Oman

Author

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Automotive Wheel Coating Market to Boom: Eco-Friendly Solutions Drive US$ 1 Billion Growth by 2033

The automotive wheel coating market is poised for substantial growth, projected to reach a valuation of US$ 759.6 million by 2023, exhibiting a notable compound annual growth rate (CAGR) of 3.10% until 2033. This consistent upward trend suggests that the global market is anticipated to achieve a significant milestone, potentially reaching US$ 1,163.83 million by 2033. Such forecasts underscore the increasing demand for automotive wheel coatings, reflecting the industry’s ongoing evolution and innovation to meet consumer preferences and regulatory standards.

The growth of the market is attributed to the decorative and performance coatings made through sustainable technology and environmentally friendly materials are further expected to drive the market in the next ten years. The rising demand for protective coatings, decorative coatings, performance coatings, and anti-corrosive coatings for automotive wheels is anticipated to drive the market during the projected period.

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The demand for automotive wheel coatings is anticipated to surge at a steady pace with the rapid growth of the automotive industry. Increasing demand for automotive-like passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs) has led to a surging production of vehicles, as well as subsequent accessories such as automotive wheels. These wheels are most of the time made of metal and metal alloys, which are most likely prone to corrosion in changing weather conditions. Automotive wheel coatings, therefore, are necessary to protect the surface of these wheels from environmental changes and to keep them safe, durable, and ready to perform in a long run.

Yet another brilliant aspect of automotive coatings is to offer attractive looks to vehicles. In order to enhance the look of an automotive vehicle, innovative designs of wheels coated with catchy and bright colors are expected to drive market growth over the projection period. This combination would help to boost the demand for cars, especially those falling under the luxury and sports segment among the millennials and gen Z. Thus, demand for wheel coatings for luxury and decorative purposes is also propelling the market. In addition to that, young buyers and owners of two-wheelers and passenger cars are specifically attracted to using allow rims and metallic coated wheels for their vehicles because they believe that the use of such accessories enhances their vehicle’s look. They also associate the same as the user’s outer personality and status symbol.

Key Takeaways From the Automotive Wheel Coating Market Report:

The frequency of changing environmental conditions all over the world has significantly surged over recent years which has resulted in leaving a negative impact on the wheels and rims. It has resulted in the corrosion and wear-and-tear of the substrate material. Demand for all-weather coatings from industries such as construction and automotive witnessed decent growth from all over the world, but especially in North American and Atlantic countries.
The atmosphere in various countries situated in such regions has a high salt content and therefore they become very cold & snowy during the winter season. Such a hostile environment affects the wheel substrate and its coating.
The tire and wheel are known to be those vehicle components that are subjected to the most complex conditions, it is necessary to shield the wheel with the best possible technology to sustain its longevity. A thorough composition prevents salt from corroding the wheels which help in eliminating the probability of high-magnitude wear and tear. Therefore, demand for all-weather automotive wheel coatings from automobile manufacturers and individual consumers is expected to be a rising trend in the industry.
Auto accessories shops in present times are loaded with such metallic wheel coatings owing to the high customer demand. In order to meet the rising customer demand, automotive wheel coating manufacturers have launched various wheel coating sprays that can be used without any prior guidance.

“The findings reveal a growing demand for these coatings, driven by the automotive industry’s continuous pursuit of innovative solutions that offer both protection and style. As the automotive landscape evolves, the market for wheel coatings is expected to witness substantial growth and innovation in the coming years, catering to the discerning needs of vehicle manufacturers and consumers alike.” –Says an Analyst at Future Market Insights, Inc.

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Competitive Landscape

Prominent players in the market for automotive wheel coatings are concentrating on the acquisition of other market players in order to increase their consumer base. In addition to that, their rapid expansion and strategic steps include capacity expansions and geographical expansions in emerging economies to bolster the stronghold in the market. Key market players are heavily investing in research and innovations for product development. At the same time, they are introducing sustainable coatings with attractive finishing properties to boost sales.

Top Key Players

Akzo Nobel N.V.
Kansai Paint Co. Ltd.
PPG Industries Inc.
Axalta Coating Systems
BASF SE
Emil Frei Gmbh and Co. KG
Lankwitzer Premium Coatings
TIGER Coatings GmbH and Co. KG
Arsonsisi
Helios Coatings

More Insights into the Automotive Wheel Coatings Market

Over the last few years, China is anticipated to dominate the global chemical manufacturing industry attributing to its low labor costs, rapid investments, flexible government regulations, enormous supply chains, and easy availability of raw materials. Growth in the manufacturing industry has also flourished in end-use industries that cater to the cumulative growth of China as the biggest raw material manufacturer and consumer.

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Micellar Casein Market Soars: Anticipated to Reach US$ 933.0 Million by 2034 with a 5.5% CAGR | Sustained Growth Driven by Health-Conscious Consumers

The Micellar Casein market is set for robust and steady growth, reaching an estimated value of US$ 578.5 million in 2024 and projecting a significant surge to US$ 933.0 million by 2034. The impressive Compound Annual Growth Rate (CAGR) of 5.5% from 2024 to 2034 underscores the industry’s sustained upward momentum. This growth is fueled by heightened awareness and a surge in health-conscious consumers seeking protein-rich products, especially in sports nutrition and bodybuilding.

Driven by the discerning preference for micellar casein, renowned for its unique slow-release properties, the market has witnessed substantial growth. Micellar casein’s ability to provide a sustained release of amino acids is crucial for muscle recovery and growth, making it an ideal choice for athletes and fitness enthusiasts. The market’s notable uptick is closely linked to the increased emphasis on protein intake in sports and bodybuilding, aligning with evolving consumer preferences.

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Trends Driving Market Growth:

Shift Towards Functional Foods: Micellar casein’s nutritional characteristics position it as an ideal ingredient for fortified and functional foods. Health-conscious consumers seek products that offer enhanced nutritional benefits, contributing to the market’s expansion.
Sports Nutrition Boom: With a fundamental shift in consumer preferences towards a healthier lifestyle, the sports nutrition industry is witnessing a surge. Micellar casein, recognized for muscle repair benefits, plays a pivotal role in meeting the demands of athletes and fitness enthusiasts.
Global Market Dynamics: North America and the Asia Pacific emerge as dominant regions, with the United States and India leading the micellar casein market. Rising irregular eating patterns and fitness goals contribute to the market’s revenue growth.

“The analyst anticipates sustained growth in the micellar casein market, driven by increasing consumer awareness of its health benefits and versatile applications in sports nutrition and functional foods,” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Category-wise Insights:

Micellar Casein Concentrates Dominate: Micellar casein concentrates are expected to hold a market share of 65.5% in 2024, owing to their versatile applications across industries. Their moderate protein content, slow-release properties, and excellent solubility make them a preferred choice.
Supplements Lead the Way: The supplements category is projected to secure 20.9% of the revenue share in 2024, highlighting the demand for convenient and effective nutritional solutions. This dominance aligns with preferences for optimized protein intake, muscle recovery, and overall wellness.

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Product Portfolio

ProteinCo is a dedicated player in the protein industry, offering a comprehensive range of protein ingredients for various sectors. Their portfolio includes high-quality whey, casein, and plant-based proteins, allowing customers to develop exceptional products in the food, beverage, and sports nutrition markets. ProteinCo is the go-to source for protein excellence.
Glanbia Nutritionals, Inc. is a trusted provider of advanced nutritional solutions. Their extensive product portfolio encompasses top-notch dairy and plant-based proteins, functional ingredients, and customized formulations. They are committed to delivering premium ingredients that empower food and beverage manufacturers to create products that promote health and wellness.

Key Takeaways:

Market Projection: Micellar casein market expected to reach USD 933.0 million by 2034, driven by health-conscious consumers and sustained demand for protein supplements.
Global Presence: North America and Asia Pacific dominate, with the United States and India leading market growth.
Category Dynamics: Micellar casein concentrates and supplements emerge as top segments, catering to diverse consumer needs.

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Recent Developments:

In 2022, Muscle Nector launched a micellar casein-based slow-release protein, targeting health-conscious consumers.
Bionova introduced BTN, a micellar casein protein powder with 80% protein content, focusing on muscle repair and recovery.

Key Players:

Arla Foods Ingredients Group P/S
Glanbia Nutritionals, Inc.
ProteinCo
Idaho Milk Products
Nutrimed Healthcare Private Limited
The Milky Whey, Inc.
Ingredia SA
Havero Hoogwegt
AMCO Proteins
Milk Specialties Global
FrieslandCampina

More Insights Available

To understand opportunities in the micellar casein market, the report is segmented on the basis of type (Micellar Casein Isolate and Micellar Casein Concentrated), Application (Beverages & Smoothies, Clinical Nutrition, Bakery, Meat Products, Nutritional Powders & Bars, Protein Fortification, Dairy Beverages, Supplements, Infant Nutrition, Fresh Dairy Products, Cheese and Others), Sales Channel (B2B, B2C, Specialty Stores, Modern Trade, Grocery Stores, Sports Stores, Online Channel and Others), across 7 major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).

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Menstrual Cups Market: Predicted to Develop at a Compound Annual Growth Rate (CAGR) of 6.4% by 2033

By the conclusion of 2023, the menstrual cup market is projected to reach a valuation of US$ 889.9 million, with further expansion anticipated to elevate it to US$ 1,654.90 million by 2033. Throughout the period spanning 2023 to 2033, the menstrual cup industry is forecasted to witness development at a compound annual growth rate (CAGR) of 6.4%. This growth trajectory reflects an increasing acceptance and adoption of menstrual cups as a sustainable and cost-effective alternative to traditional menstrual products. As awareness grows and preferences shift towards eco-friendly options, the menstrual cup market is poised for substantial progression in the coming decade.

The menstrual cup market is estimated to grow during the forecast period due to the increased use of menstruation cups and increased awareness of sophisticated, feminine hygiene products. Menstrual cups comprise medically graded studied material that is safe to implant into the body.

Shattering Stereotypes: The Surging Numbers of Women

The expanding female population is expected to impact market dynamics during the projection period. The growing female population is a major menstrual cup industry driver in developed and developing countries. Women’s numbers are increasing.

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Consumption of menstrual products is increasing as the female population grows. This increase in population may assist the market. Raising female hygiene awareness is another factor boosting the menstrual cup market. Infections are transferred through the use of sanitary pads and tampons.

From Foundations to Frontlines: Investing in Healthcare Infrastructure to Support Medical Professionals

Another key aspect impacting the market’s growth rate is raising healthcare expenditure, which aids in improving its infrastructure. Various government organizations seek to improve healthcare infrastructure through increased financing and influence market dynamics.

The growing awareness of the advantages of menstruation cups over sanitary pads and tampons may spur growth in the menstrual cup industry. Additionally, increased disposable income and changing lifestyles due to fast modernization may boost the market growth for menstrual cup.

Cost Barrier: The High Cost of Menstrual Cups and its Impact on Market Growth

The high cost of menstruation cups and their production may slow the menstrual cup market growth. The absence of healthcare infrastructure in emerging economies, combined with a stringent regulatory environment, can pose a hurdle to the menstrual cup business. People’s lack of awareness and bad reimbursement policies may hinder and impede the market’s growth rate throughout the predicted period.

Industry Restraints:

Cultural Taboos and Stigma: In certain cultures and regions, there is still a stigma associated with menstruation and the use of menstrual products, which can hinder the adoption of menstrual cups.
Lack of Education and Awareness: Despite increasing awareness, there are still many women who are unfamiliar with menstrual cups or hesitant to try them due to a lack of education about their benefits and usage.
Initial Cost Barrier: While menstrual cups are cost-effective in the long run, the initial purchase cost may be a barrier for some women, especially those from low-income backgrounds.
Comfort and Fit Issues: While menstrual cups are designed to be comfortable and adaptable, some women may experience discomfort or difficulty finding a cup that fits them properly, which can discourage continued use.
Regulatory Hurdles: Regulatory requirements vary by region, and navigating these requirements can pose challenges for manufacturers looking to market menstrual cups globally.
Competition from Alternative Products: While menstrual cups have gained popularity, they still face competition from other menstrual products like pads, tampons, and period panties, which have their own loyal user bases.

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Regional Outlook

North America dominates the menstrual cup market in terms of market share and revenue, and this dominance is expected to continue during the projected period. This is attributed to rising technical advancements and rising healthcare expenditures, which are propelling the menstrual cup market growth in this area. The presence of significant important companies, as well as rising pharmaceutical usage, may escalate the market growth for menstrual cup even speedily.

Due to an increase in the prevalence of dysmenorrhea and menstrual health illnesses for treatment in this region, Asia-Pacific is predicted to be the swiftly-growing between 2023 and 2033. The growth rate of the market may be accelerated by the development of healthcare infrastructure and rising government initiatives.

Key Takeaways

The United States might increase its market share by 31.4% between 2023 and 2033.
Between 2023 and 2033, Germany may hold 8.2% of the menstrual cup
Japan’s share of the menstrual cup business could reach 5.8% between 2023 and 2033.
Australia to hold a 2.4% share of the market from 2023 to 2033.
During the forecast period, Chinese menstrual cup business to expand at a CAGR of 7.8%.
From 2023 to 2033, the United Kingdom menstrual cup industry to register at a 6.5% CAGR.
Through 2033, the Indian market to record a CAGR of 8.2%.
Reusable segment of the product type category is predicted to have a market share of 63.9% by 2033.
The silicone segment to hold a market share of 42.7% in the material type category between 2023 and 2033.
North America market to grab a market share of 36.8% from 2023 to 2033.
European menstrual cup business to acquire a share of 28.9% between 2023 and 2033.

Competitive Landscape

With the introduction of novel menstrual cup manufacturers and the expansion of current brands, competition in the menstrual cup industry is heating up. To obtain a competitive advantage, established organizations are focusing on innovation, marketing initiatives, and strategic collaborations. To meet consumer demands, the market is seeing expanded product diversity and improved features.

Key Players:

Blossom Cup
Diva International Inc
Fleurcup
INTIMINA
Jaguara s.r.o. (LadyCup)
Lena Cup LLC
Silky Cup
Chemco Group
Mooncup Ltd
The Flex Company
Me Luna Gmbh
Soch Green
Procter and Gamble
The Keeper, Inc.
Other (on request)

Latest Innovations

Launch

In January 2023, HLL Lifecare Limited debuted three menstrual cup brands in India: Thinkal, Velvet, and Cool Cup.
In August 2022, Z-Cup, an innovative, inexpensive, and sustainable menstruation cup, has been launched. The Z-Cup offers all menstruators a leakproof period that is ideal for intensive activity.

Menstrual Cup Foam Wash Market Outlook by Category

By Capacity:

50ml
80ml
100ml
200ml

By Sales Channel:

Modern Trade
Convenience Stores
Departmental Stores
Specialty Stores
Mono Brand Stores
Online Retailers
Drug Stores
Other Sales Channel

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

Author

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Global Orthopedic Prosthetics Market is anticipated to witness a remarkable surge, hitting the US$ 3,909.9 million by 2034 | FMI Study

The global orthopedic prosthetics market is poised for substantial growth, with an anticipated valuation of US$ 3,721.6 million in 2024, according to recent market analysis. Projections suggest that by 2034, the industry will soar to a remarkable US$ 3,909.9 million, reflecting a robust Compound Annual Growth Rate (CAGR) of 5% between 2024 and 2034.

A key driver behind this unprecedented expansion is the escalating global prevalence of obesity. Factors such as excessive consumption of junk food and sedentary lifestyles have contributed to this alarming trend. Consequently, individuals grappling with obesity often face challenges related to mobility, particularly in joints such as the knees. This has led to a surge in demand for orthopedic prosthetics to alleviate difficulties in walking, sitting, and running.

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Moreover, the market is witnessing significant growth due to a concerted effort to enhance healthcare facilities and infrastructure worldwide. Collaborations between public and private entities are on the rise, resulting in increased funding and the application of advanced technology. These collaborations have not only bolstered the quality of orthopedic prosthetics but have also created lucrative opportunities within the market.

“We are at the forefront of a transformative period in the orthopedic prosthetics market,” remarked Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “As the global prevalence of obesity continues to rise, the demand for innovative orthopedic solutions is unprecedented. Our commitment to advancing technology and collaborating with key stakeholders positions us to meet these evolving needs and drive positive outcomes for patients worldwide.”

With advancements in technology and strategic collaborations driving innovation, the future of the orthopedic prosthetics market looks exceptionally promising. As stakeholders continue to prioritize research and development initiatives, the industry is poised to revolutionize patient care and improve quality of life for millions around the globe.

Key Takeaways from the Market Study:

Based on technology, the electric powered segment is expected to hold a market share of 48.1% in 2024.
China is estimated to register at a CAGR of 7.7% by 2034.
The United Kingdom experiences significant growth, projected at a CAGR of 5.4% by 2034.
Based on product, lower extremity prosthetics is anticipated to hold a market share of 63.6% in 2024.

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Competitive Landscape:Top of Form

The competitive landscape of the orthopedic prosthetics market is marked by intense innovation and strategic collaborations among key players. Companies strive to enhance prosthetics designs, ensuring superior comfort and mobility for users.

Technological advancements, personalized solutions, and a global market presence characterize the competitive dynamics as industry leaders vie for market share by addressing the evolving needs of a diverse patient population.

Some of the recent developments are:

In January 2020, Essentium, Inc. and Vorum entered a collaborative venture, merging Essentium’s High-Speed Extrusion (HSE) 3D printing technology with Vorum’s SurePath methodology and CAD/CAM solutions.
In June 2020, REJOINT introduced a groundbreaking approach, integrating artificial intelligence with GE Additive Arcam’s Electron Beam Melting (EBM) technology.

Key Companies Profiled:

Exatech Inc.
Howard Orthopaedics Inc.
Hanger Inc.
Wishbone Medical
Pega Medical
OrthoPediatrics
Arthrex
Touch Bionics Inc.
Advanced Arm Dynamics
Medtronic Spinal
Integra Lifesciences

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Key Segments of Orthopedic Prosthetics Industry Survey:

By Product:

Upper Extremity Prosthetics
- Hand Prosthetics
- Elbow Prosthetics
- Shoulder Prosthetics
Lower Extremity Prosthetics
- Foot & Ankle Prosthetics
- Knee Prosthetics
- Hip Prosthetics
Liners
Sockets
Modular Components

By Technology:

Conventional
Electric Powered
Hybrid Orthopaedic Prosthetics

By End-user:

Hospitals
Prosthetics Clinics
Rehabilitation Center
Others

By Region:

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

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Nandini Singh Sawlani

Clothing Recycling Market Set for Steady Growth: Expected CAGR of 10.9% Through 2033

In 2023, the clothing recycling market is expected to reach a valuation of US$ 6,491.0 million, driven by increasing awareness of the circular economy. With a projected growth rate of 10.9% CAGR until 2033, the demand for clothing recycling is set to soar. The high adoption rate of clothing recycling reflects a growing commitment to sustainability, culminating in a forecasted market value of US$ 18,265.4 million by 2033. This trend underscores a shift towards eco-conscious consumer behavior and highlights the importance of recycling in mitigating the environmental impact of the fashion industry.

People think that the clothing recycling business will change a lot in the next years. More and more people who care about the environment and make good choices are pushing up market growth. To help the environment stay healthy, companies that make clothes from used clothing try to fix problems like using up things we need for cloths. They want to stop big textile plants making a lot of waste and burning it too much.

Making a lot of polyester and fake clothes for fast fashion creates very high levels of greenhouse gases. So, a big need for recycled fabrics around the world has been caused.

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Many companies that recycle are starting to tell people more about recycling clothes. They’re doing this with programs where they pick up old and worn-out clothes right from homes doorsteps. So, let’s spread the word about reusing old clothes. These companies are also using special ways to get clothes from people who have already used them by putting cloth boxes in public places like parks, roads and shopping centers.

Advancing technology and equipping processing units with newly upgraded automation processes are expected to further stimulate market growth. The European Commission-led eco-innovation initiative called Textile for Textile (T4T) is a good case in point. This initiative has introduced near-infrared (NIR)-spectroscopy technology to execute automated sorting applications in the recycled textile sector.

The advent of eco-clothes that are composed of recycled fabrics, plastics, and other raw materials is also catering to the market growth of clothing recycling. Companies are making decisive and concerted efforts in the direction of sustainability to make circularity a new standard in the fashion and apparel industry.

Garments’ new future involves using recycled materials that can be recycled more than once.

Top Highlights from the FMI’s Analysis of the Clothing Recycling Market:

Demand for clothing recycling in Europe is overriding that of other regions. The region acquired a 25.7% market share in 2022.
North America is following in the tracks of Europe, following behind with almost 2%. In 2022, North America captured 23.9% share of the overall market.
The United States acquired 19.4% of the overall market share in the historical period.
The German market gained 6.5% of the global market in 2022.
The Japanese market acquired 4.3% of the global market in 2022.
India is projected to observe explosive growth in the forecast period, expanding at a CAGR of 14.6%.
China is expected to register a CAGR of 12.4% in the forecast period.
The United Kingdom is estimated to pace at a CAGR of 9.4% over the estimated time-period.
By clothing type, the polyester segment is projected to gain more than 35.4% value share over the forecast period.
In 2022, the apparel segment gained a 29.5% market share.

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Key Players

Other Players Operating in the Clothing Recycling Market include:

Worn Again Technologies
Evrnu SPC
Carbios
I:Collect GmbH
Renewcell
Fabscrap
Infinited Fiber Company
PurFi Global LLC
MUD Jeans International B.V.
CuRe Technology
Birla Cellulose

Keeping up with the New Innovations in Clothing Recycling Industry:

In March 2023, Re/DRESS, an entirely recycled/ upcycled textile fashion brand, was introduced in Dhaka. Thought innovation and development of fashion products by Re/DRESS happen in Bangladesh. The brand offers a unisex collection made of breathable, soft knit, and woven textiles made of almost 100% recycled plastic bottles and cotton waste. As a social enterprise, it promotes responsible fashion.
In May 2022, Shein, a global e-retailer of fashion, lifestyle, and beauty products, unveiled evoluSHEIN, which is a recycled clothing line. Underpinned by responsibly-sourced materials and inclusive sizing, the latest line is proving itself as an affordable option for customers practicing deliberate and eco-conscious shopping. The debut of evoluSHEIN observed recycled polyester, made of plastic waste, as a key feature. Customers further support Vital Voices, a leading NGO that financially supports women leaders, by shopping for evoluSHEIN clothing.
In April 2023, Zara, a Spanish retail clothing chain, partnered with Circ, which is a fashion technology firm that upcycles textile waste. The aim of this partnership, as revealed by these firms, is to offer a recycled textile women’s capsule collection. The recycled textile is sourced from polycotton textile waste. The collection is presently distributed in 11 markets.
In January 2022, Rent the Runway introduced a project to reprocess fast fashion garments. The program is part of their anti-fast fashion campaign popularized as “Fast Fashion Free”. For this initiative, the company aimed its resources to gather “unwearable” and cast-off fast fashion products and recycle them in January. The recycled clothing is expected to be transformed into an insulation material for new buildings and houses.

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Key Segments

By Type:

Cotton Recycling
Nylon Recycling
Wool Recycling
Polyester Recycling
Other Fiber Recycling

By End-use:

Apparel
Industrial
Home Furnishings
Non-woven
Other

By Waste Type:

Pre-consumer
Post-consumer

By Recycling Type:

Mechanical Recycling
Chemical Recycling

By Distribution Channel:

Online Channel
Retail & Departmental Store

By Region:

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

Author

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani