Market Research Blog – Page 3653 – New Product Development

Garage and Service Station Market Share Expected to Reach US$ 5,927.48 Million by 2032

The global garage and service station market share is projected to be valued at US$ 2,031.98 Million as of 2022, representing an annual increment worth 10.2% from 2021. By 2032, the industry is projected to reach US$ 5,927.48 Million, representing a CAGR of 11.3%.

The global garage and service station market is more than just an eye catching phrase which actually embodies all the business coming up from automobile repair workshops that tends to do diagnosis, repair and servicing for automotive. The market is gaining traction with the increasing number of organised players in the global garage and service station market. These stations provides a series of maintenance procedures that are carried out when a vehicle has travelled a certain distance. The intervals for servicing are highly dependent on the type of vehicle and are generally specified by the vehicle manufacturer.

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The major services by the garages and service stations are inclusive of engine tuning, replacement of fuel filter, replacement of air filter, replacement of spark plugs, change of engine oils, car washing, greasing and lubricating, etc.

Majorly the demand for garage and related services are dependent on the car usage and number of cars and motors on the road. Convenient location and marketing strategies are some of the chief factors affecting the individual companies’ profitability.

The rising technological advancements and developments in the automotive market is disrupting the market for garages and service stations. There is a trend of increasing number of personalised vehicles that are networked and technologically radical which at the same time are rooted with driver-assist technologies that tends to fewer accidents and lesser errors and ultimately reducing the need for servicing.

Garage and Service Station: Drivers & Restraints

The garage and service station market is expected to grow due to several factors such as growing automotive industry, increasing safety concerns, increasing automotive aftermarket needs. The marketing of products and services online is increasing which is providing growth potential to the service providers. The increasing number of auto service companies offering various car related services are also responsible for the growing market for garage and service station market.

The auto repairing are still based on trust which is responsible for the fragmentation of the market with large number of small garages and service station. This can again restrain the growth of organized players in the market. On the other hand unorganized local service stations finds difficulty in expanding their base. Additionally rising technological developments are posing threat to the industry. The industry is also facing a major gap in trust and consumer satisfaction with the garages and service stations which is yet again an obstacle restraining the growing garage and service station market

Key Segments Covered in the Garage and Service Station Market Report

Product Type:

Mechanical Repair Garage and Service Station
Collision Repair Garage and Service Station
Car Washes Garage and Service Station
Oil Change & Lubrication Garage and Service Station
Other Garage and Service Station Types

Ownership:

Automotive Garage and Service Dealerships
Franchise General Repair Garage and Service Shops
Franchise Specialty Garage and Service Shops
Locally Owned Repair Garage and Service Establishments

Sector:

Organized Garage and Service Stations
Unorganized Garage and Service Stations

Garage and Service Station: Region-wise Outlook

The garage and service station market is expected to register a favourable growth for the forecast period, 2015?2025. The Asia-Pacific and North America market is projected to endure control on the global garage and service station market followed by Europe and Middle East & Africa. The demand for repairing services in surging across Asian regions. The factors contributing to the rising demand in APAC is increasing market of vehicles and succeeding demand for services related to their repair and maintenance.

Garage and Service Station: Key Players

The global garage and service station market is highly fragmented. Some of the organized auto service companies in the market are Firestone Complete Auto Care, Meineke, Jiffy Lube, Midas, Safelite Group, Monro Muffler Brake etc.

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Future Market Insights (ESOMAR certified 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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Automotive Lighting Market Set to Reach US$ 69 Billion by 2033

The global automotive lighting market is anticipated to attain a valuation of US$ 37.1 billion in 2023 and is predicted to reach US$ 69 billion by 2033, trailing a CAGR of 6.4% during the forecast period.

Stringent lighting regulations have propelled developed countries to focus on the vehicle lighting industry in Europe and North America. Adequate vehicle lighting is crucial, particularly for travel on busy highways. Governments globally prioritize road safety, as highlighted by the World Health Organization (WHO), which reports 1.3 million annual fatalities from road traffic collisions. Many countries experience a 3% GDP loss due to road accidents. Therefore, enhancing driving conditions is essential, and improving the lighting system plays a significant role in achieving this goal.

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In 2011, the European Union has made it compulsory for all new motor vehicles to have daytime running lights (DRLs) in order to enhance road safety. DRLs are designed to improve the visibility of the vehicle for other road users rather than aiding the driver’s vision. According to the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA), DRLs have resulted in a 13.8% reduction in fatal road accidents. Such regulatory measures are expected to significantly influence the growth of the global automotive lighting market.

The growing demand for automotive lighting is fuelled by the rising adoption of advanced lighting in vehicles. Leading original equipment manufacturers (OEMs) are prioritizing the development and integration of advanced lighting solutions to enhance both vehicle visibility and aesthetics. Notably, Hella GmbH is actively involved in the development and provision of cutting-edge automotive lighting systems. These lighting systems offer various functions, such as pedestrian communication, to ensure safety and meet customer expectations.

Key Takeaways

North America automotive lighting market is expected to grow with a CAGR of 6% during the forecast period.
The demand for automotive lighting in China is expected to grow with a CAGR of 6.3% during the forecast period.
By vehicle type, passengers vehicle segment is projected to grow with a CAGR of 6.8% during the forecast period.
Brazil is expected to grow with a significant CAGR of 5.8% throughout the forecast period.

“Rising adoption of advanced lightings in vehicles and development of cutting edge lighting by key players is expected to drive market growth during the forecast period,” comments an FMI analyst.

Competitive Landscape

The market for automotive lighting is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.

The key industry players Koito Manufacturing Co. Ltd., Hella KGaA Hueck & Co., Stanley Electric Co., Valeo SA, Osram Licht AG, Magnetti Marelli, Varroc Group.

Some key developments in the automotive lighting market are:

In May 2021, OSRAM Continental and REHAU formed a development partnership to integrate lighting into exterior components, offering automotive manufacturers creative lighting solutions with enhanced design flexibility and functionality.
In January 2020, Hella introduced Hella FlatLight technologies, a ground-breaking lighting innovation for rear combination lamps.
In July 2021, Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a subsidiary of Motherson Group, entered into an MoU with Marelli Automotive Lighting to explore a technological partnership centered around smart illuminated exterior body parts.
Valeo revealed their ground-breaking 360° lighting solution at the April 2021 Shanghai Auto Show. This technology envelops the vehicle in a light band, projecting clear and immediate signals that can be easily observed by nearby road users, particularly vulnerable individuals like cyclists, scooter riders, and pedestrians.

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Key Segments Profiled in the Automotive Lighting Market Industry Survey

By Application:

Front Headlights
Fog Lights
Rear Lights
Side Lights
Interior Lights

By Vehicle Type:

Passenger Cars
Compact
Mid
Luxury
SUVs
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles
Battery Electric
Plug-in Hybrid Electric
Hybrid Electric
Two Wheelers
Motorcycles
Scooters

By Light Source:

Halogen
LED
Xenon

By Sales Channel:

OEM
Aftersales

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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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Colostrum Market Nourishing Wellness and Boosting Immunity, Anticipated to Reach US$ 6.3 Billion by 2033 | FMI

The colostrum market is booming due to its health-boosting properties and essential nutrients, attracting health-conscious consumers. Anticipated growth at a 6% CAGR is set to bring in $6.3 billion, driven by the industry’s innovation catering to expanding wellness needs.

The market for colostrum has been growing quickly due to its growing recognition as a potent health supplement. Because it has immune-boosting properties and contains important minerals, colostrum is greatly sought after by those who value their health. The business is always creating innovative new items to meet the needs of a growing consumer base when it comes to wellness.

The colostrum market will shift if we accept the growing wave of demand. Due to colostrum’s numerous advantages, a 6% CAGR is expected to generate US$ 6.3 billion in revenue over the course of the projected year.

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Colostrum has innumerable health benefits; it can strengthen adults’ immune systems through nutritional supplements, nourish infants through formula, and even rejuvenate skin through cosmetics that include its antioxidant-rich essence. It is anticipated that the colostrum market would grow and have a long-lasting effect on people’s wellbeing all across the world as knowledge of its incredible benefits spreads.

Key Takeaways are:

The market for colostrum is dominated by the United States, which has a sizeable 21.1% of the global market. This strong position can be due to elements including a developed healthcare system, a large market for nutritional supplements, and rising public knowledge of the advantages of colostrum for health.
With a market share of 8.5%, Germany is a significant player in the colostrum industry. A large presence in the market is attributed to the nation’s reputation for producing healthcare products of the highest calibre, its potent research and development resources, and its population of health-conscious consumers.
Japan holds a 9.4% share of the global colostrum market, highlighting its significance in the world economy. Colostrum products are in high demand because of the nation’s developed healthcare sector, emphasis on innovation, and ageing population. Colostrum is known for its capacity to boost immunological health and general wellbeing.
The market share of Australia in the colostrum industry is 2.0%. The nation’s presence on the market is aided by its abundant agricultural resources, strict quality control procedures, and emphasis on natural and organic goods. Customers looking for premium and dependable sources are drawn to Australia by its reputation for producing high-quality colostrum products.

Competitive Landscape:

Major firms are engaged in an unrelenting struggle for market share in the intensely competitive colostrum industry. The availability of raw materials, especially cow colostrum, is a key factor in determining the level of competitiveness. The number of businesses that can enter the market may be limited by the availability of raw resources. Additionally, the regulatory framework in many nations is crucial. Colostrum products are produced and sold under strict standards, which can be a barrier for new competitors. Consumer demand is another important aspect affecting competition. The competitive environment gets increasingly intense as more businesses enter the market as a result of the high demand for colostrum products. Players in the sector must take a strategic stance in this dynamic environment to overcome obstacles and seize development possibilities.

Key Players are:

NOW Health Group, Inc.
APS Biogroup
Sovereign Laboratories
Genceutic Naturals
Biostrum Nutritech Pvt. Ltd.
Vivesa holding s.r.o.
Cure Nutraceutical PVT. LTD.
iodane Pharma A/S
Agati Healthcare Pvt Ltd
PuraLife, LLC.
Bionatin Bv
Farbest Brands
MIP Colostrum NZ
BIN Science LLC.
Jarrow Formulas Inc.

NOW Health Group, Inc.

A well-known US manufacturer of dietary supplements. The business offers a large selection of colostrum products and has a solid reputation for quality. NOW Health Group is renowned for employing cutting-edge marketing techniques.

APS Biogroup

A significant provider of colostrum in Europe is APS Biogroup. The business places a high priority on research & development and is always seeking for new methods to enhance its offerings. Additionally, APS Biogroup has a robust distribution system in Europe.

Sovereign Laboratories

One of the top US colostrum manufacturers is Sovereign Laboratories. The business places a high priority on quality and provides a variety of colostrum products. Additionally renowned for its dedication to customer service, Sovereign Laboratories.

Genceutic Naturals

Genceutic Naturals is a well-known colostrum manufacturer in India. The business emphasises innovation heavily and provides a large selection of colostrum products. Additionally well-known for its affordable prices is Genceutic Naturals.

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Recent Key Developments:

The market for colostrum products has expanded along with the industry for pet health and wellbeing. Pet owners are becoming aware of the potential advantages of colostrum in promoting the immune systems, digestive health, and general wellbeing of their furry friends. This has increased demand for pet supplements and specialty foods containing colostrum, which is fueling expansion in this specialized area of the colostrum industry.
Colostrum is gaining popularity in the sports nutrition sector because to the increased emphasis on athletic performance and recovery. Studies looking at its potential advantages in promoting athletic performance, lowering exercise-induced inflammation, and supporting muscle recovery have been prompted by its rich nutritional profile, which includes growth factors and immune-boosting qualities. This investigation into the therapeutic potential of colostrum in sports nutrition brings up fascinating opportunities for product development and commercial growth.

Colostrum Market by Categorization:

By Nature:

Organic
Conventional

By Product Type:

Whole
Whole Colostrum Powder
Skim Colostrum Powder
Specialty Colostrum Powder
Colostrum Finished Products
Capsules
Chewable Tablets
Individuals Sachets
Specialty Formulated Products

By End Use:

B2B
Dietary Supplements
Sports Nutrition
Functional Foods
Animal Nutrition
Cosmetics
Infant Formula
Pharmaceuticals
B2C
Store-Based Retail
Hypermarket
Convenience Stores
Speciality Stores
Drug Stores
Health & Wellness Stores
Others
Online Retailing

By Animal Type:

Cow
Buffalo

By Region:

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

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
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Fire Trucks Market Expected to Reach US$ 8,549.6 Million by 2033

The global fire trucks market is expected to expand at a CAGR of 3.7% in year 2023 to 2033. The overall market value is projected to reach US$ 8,549.6 million by 2033. The demand for fire trucks was around US$ 5,741.6 million in 2022.

The rising need for dependable equipment on the vehicle and cutting-edge firefighting technology have substantially transformed the fire truck industry in the last few years. Increased fire and safety awareness to prevent fire-related fatalities has also surged the demand to establish fire truck stations in rural areas.

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Besides high-rise buildings and industrial complexes, bustling streets in metropolitan cities have necessitated specialized firefighting trucks and equipment. So, modern and advanced fire vehicles better suited to tackle all kinds of situations are garnering higher traction in the market.

“As natural disasters are getting more common, the establishment of rescue fire truck manufacturing facilities is expanding with federal support in several countries. Manufacturers and suppliers in the municipal fire department trucks are adopting new, creative strategies to get the most out of the intense competition. – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

Key Takeaways from the Fire Truck Market Study Report

The United States continues to be the leading market for fire trucks and is poised to advance at a CAGR of 2.7% through 2033.
Due to Germany’s status as a global hub for automotive components, the demand for firefighting trucks is anticipated to surge at 5.5% CAGR through 2033.
China dominates the Asia fire truck market and is expected to progress at a lucrative 4.4% CAGR during the forecast period.
The India fire truck industry is thriving, with regional players expecting an annual growth rate of 4.3% from 2023 to 2033.
Increasing production and sales of tankers is expected to increase this segment’s global revenue share from 29.9% in 2022.

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Competitive Landscape for the Fire Truck Market

Considering there are so many well-established suppliers and manufacturers, the worldwide market is quite competitive for emergency response trucks. New industry participants are imitating leading players like Rosenbauer and Oshkosh, who have strengthened their worldwide positions via advanced product developments and strategic collaborations.

Key Players

Rosenbauer International AG
Oshkosh Corporation
Magirus GmbH
Spartan Motors
Morita Group
REV Group
Naffco
Ziegler Group
Danko Emergency Equipment Co.
Zoomlion

Recent developments in the Fire Truck Industry

The REV Fire Group unveiled Vector, its first-ever electric engine in North America, during FDIC 2022 in April of that year. The engine was developed in collaboration with Emergency One Group LTD, a preeminent fire and rescue apparatus producer in the United States. Likewise, SCANIA created a hybrid vehicle for industrial and maritime use in March 2023 that is ideal for all types of fire trucks.
Charlotte Fire Department added electric fire trucks for eco-friendly fire stations under its jurisdiction in December 2022. In preparation for its new all-electric firehouse opening in 2024, it has placed orders in bulk with the electric fire truck’s supplier, Spartan Emergency Response.
Rosenbauer Incorporate and Volvo Company united in July 2021 to build a brand-new electric fire vehicle called Revolutionary Technology. They aim to develop the first electric fire truck equipped with proven and adaptable technology from Volvo Penta, Volvo, as well as its client Rosenbauer.

Scope of Market Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	US$ million or billion for Value and 1,000 Units for Volume
Key Countries Covered	United States, Canada, Brazil, Mexico, Rest Of Latin America, Germany, France, United Kingdom., Russia, Italy, Rest of Europe, China, Japan, South Korea, ASEAN.
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

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Key segments

By Product:

Tankers
Pumpers
Aerial Platform
Rescue Fire Trucks
Other Specialty Trucks

By End-use Sector:

Residential & Commercial Buildings
Enterprises & Airports
Military
Other End Uses

By Region:

North America Market
Latin America Market
Europe Market
China Market
APEC Market
ROW Market

Author

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

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
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Automotive Composites Market Expected to Reach US$ 26.1 Billion by 2033

The automotive composites market is to reach a valuation of US$ 8.3 billion in 2023. Future Market Insights reports say that the market is anticipated to expand at a 12.1% CAGR from 2023 to 2033. The Market is anticipated to reach US$ 26.1 billion by the end of 2033.

The market for automotive composites always remains competitive, due to the prevalence of giant players with expertise in advanced manufacturing technologies for sustainability in the global automotive composites market in the future, where, product development is considered to be the key growth strategy that is being adopted by market participants.

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Launching advanced products provides various practical benefits, and at the same time affirms existing emission norms and other regulations in the market, which is going to thus help the market players in strengthening their presence in the global automotive composites market.

Key Takeaways from the Market Study

Sales of the automotive composites market expanded at a CAGR of 11.3% from 2018 to 2022.
Automotive composites market reached a valuation of US$ 6.2 billion.
Overall sales of automotive composites across the globe are projected to increase by 1.5x, registering year-on-year (YoY) growth of 5.10% in 2022.
Automotive industry in Asia Pacific is said to hold a market share of 7.8%.
Australia is said to expand at a CAGR of 4.5%.
Automotive industry in India is witnessing significant expansion over the past half-decade contributing a market share of 6.89%.
North America is expected to be the second most dominant automotive composites market holding a market share of 38.6%.
The United States is estimated to hold a significant portion of North America’s market with a value share of 23.8%.
China is estimated to witness strong growth in the automotive composites market, accounting for more than 19% of the market share.
Glass fiber composites are estimated to hold a significant position in the market.
Glass fiber composites segment is expected to account for a dominant market share of 49.8%.
Passenger car contributes to an increase in sales in the automotive composites market.
Passenger car segment is anticipated to witness significant growth with a market share of 62.8%.
Exterior application holds a leading position in the market.
Exterior segment is anticipated to witness dominant growth with a market share of 44.3%.
Sales of thermoplastic resins lead to growth in the market.
Thermoplastic resins are expected to raise the sales of the market with a value share of 36.1%.

Lack of technological advancements and low recyclability of composites acts as a major restraint to hinder the market growth”, comments a Future Market Insights Analyst.

Some of the prominent players in the global market are:

Toray Industries Inc.
Gurit Holding AG
Solvay Group
SGL Carbon SE
Teijen Limited
Mitsubishi Chemical Holding
Owen Corning
E.I. du Pont de Nemours & Co.
UFP Technologies Inc.
Quantum Composites

Some of the important developments of the key players in the market are:

In February 2023, Belgian chemicals group Solvay (SOLB.BR) forecasted lower earnings this year due to weaker demand from chemicals, coatings, and consumer markets, sending its shares down more than 3% even as it reported record profits for 2022.
In May 2023, Belgian chemicals group Solvay reported higher-than-expected first-quarter results and lifted its full-year profit and cash outlooks, but lower volumes hit its shares.

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Automotive Composites Market by Category

The global automotive composites market is segmented into five segments in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.

Material:

Glass Fiber Composites
Natural Fiber Composites
Carbon Fiber Composites
Aramid Fiber Composites
Others

Application:

Interior
Exterior
Underbody
Chassis
Power Train
Engine Components

Resin:

Thermoplastic
Thermoset

Vehicle Type:

Passenger Cars
- Compact
- Luxury
- Mid-Size
- SUVs
LCVs
HCVs
- Straight Trucks
- Dump Trucks/Garbage Trucks
- Semi-Trailers
- Fire Trucks
- Others
Agricultural
- Tractors
- Tillers
- Rotavators
- Harvesters
- Threshers

Region:

North America
Latin America
Western Europe
Eastern Europe
South East Asia & Pacific
India
China
Japan
MEA

Author

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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Food and Beverages Market: Nourishing the Future with Innovative and Health-Conscious Options, Projected to Reach US$ 253.3 Billion by 2033

The Kids’ Food and Beverages Market is a dynamic industry that satisfies kids’ dietary needs and preferences. Businesses are emphasizing health and nutrition by providing new and appealing things, like drinks, snacks, and ready-to-eat meals, in an effort to meet the demands of both parents and children.

The market for children’s food and drink is expected to reach US$ 138.8 billion in 2023, growing at a compound annual growth rate (CAGR) of 6.2% between 2023 and 2033. A global study on the food and beverage industry for children predicts that by 2033, the market would be valued at US$ 253.3 billion.

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Growing family incomes around the globe play a significant role in the growth of the global market for foods and drinks marketed towards children. The company’s expansion has also been facilitated by compelling advertising that uses digital media to influence consumers from different cultural backgrounds and focuses on certain age groups. Due to how much advertising contributes to the success of kids’ products, many players have made it their major marketing approach. Due of deceptive marketing goals, governments all over the world are passing regulations that restrict the promotion and advertising of children’s food. Alarmingly, both high-income and low-income nations are currently seeing an increase in the percentage of children under the age of five who are overweight. Therefore, future market restrictions are predicted.

Certain European Union nations have outlawed the promotion of HFFS products to viewers in specified age categories in order to reduce the market potential for regional enterprises. Due to the problems caused by childhood obesity and its general rise, parents now choose foods with lower sugar content. Producers of kid’s beverages have recently released new products with less sugar, more protein, and more fresh fruits and vegetables.

Key Takeaways

As per the FMI market predictions, the overall demand for this category of products in the United States is estimated to be US$ 63.6 billion by 2033.
Sales of kids’ food and beverages are anticipated to register a CAGR of 9.3% in China, as compared to any other country.
Positive market influences include the expansion of e-commerce platforms in emerging economies and the growing popularity of packaged food items around the world.

Competitive Landscape

Atkins Nutritionals Inc., Britvic Plc, Brothers International Food Corp., Campbell Soup Company, Conagra Brands Inc., Elevation Brands LLC, General Mills Inc., GlaxoSmithKline Consumer Healthcare Ltd., GlaxoSmithKline Plc, Kellogg Company, Lifeway Foods Inc., McKee Foods Corporation, Mondelez International, Nestlé S.A., PepsiCo Inc, The Kraft Heinz Company, Tipco Foods Public Company Limited, Want Want China Holdings Ltd. Among others are some of the significant players in the global kids’ food and beverages industry

Recent Developments

Danone launched the Dairy & Plants Blend formula in July 2022, in response to requests from parents for feeding options that are appropriate for vegetarian diets and plant-based diets, while also addressing the specific nutrient needs of their children. According to the Gerber Company, the plant-based, carbon-neutral baby food line Plant-tastic had its market launch in April 2022. It is sponsored by Nestlé and sells a range of organic pouches, snacks, and complete meals made from nutrient-rich, plant-based sources.

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Given Below are the Kids’ Food and Beverages Market Segments

By Product Type:

Frozen Foods
Dairy Products
Beverages
Cereals
Meals
Self-stable Produce
Snacks (Salty & Sweet)
Fortified Foods
Others

By Age Group:

2 to 3 years
4 to 8 years
9 to 13 years
14 to 18 years
Others

By Category:

Organic
Conventional
Others

By Distribution Channel:

Drugstores or Pharmacies
Supermarkets or Hypermarkets
Convenience or Retail Stores
Online Distribution Channel
Other Distribution Channels

By Region:

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

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Shaking Up the Market: The Rise of Packaged Milkshakes and Their Journey to a US$ 596.58 Million Industry by 2033

The packaged milkshakes market is projected to increase at a 6.3% CAGR to reach $596.58 million by 2033 from $323.84 million in 2023. Demands for quick, nutrient-rich solutions from health-conscious consumers and busy lifestyles are driving this expansion.

With a projected valuation of US$ 323.84 million in 2023, the packaged milkshakes market is expected to grow at a compound annual growth rate (CAGR) of 6.3%. By 2033, there will be a $596.58 million global market.

The market is primarily being driven by consumers’ busy lives and growing health concerns. Because of the mobility of packaged milkshakes and their incorporation of proteins, vitamins, and other trace elements, demand is anticipated to rise during the estimated time.

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Packaged Milkshakes Market in the Future: Key Trends and Bottlenecks

Accelerated Use of Tetra Packs for Milkshakes to Positively Impact Market Growth

Asia Pacific is a leading producer and consumer of milk. Unfortunately, milk availability varies considerably. Tetra Pak is transforming the landscape in collaboration with groups like Amul and the Karnataka Milk Federation. Milk cooperatives and private dairies can transport fresh milk from farmers to homes because of innovative, affordable, and small Tetra Pak pack forms.

Tetra Packs are smaller and need less energy to send. Food waste is reduced because the contents remain longer. During the anticipated period, the packaged milkshakes industry is expected to develop due to the expanding use of tetra packs for milkshake packaging.

Milkshake Innovations to Push Up Demand for Packaged Milkshakes

The packaged milkshake market is expanding as a result of the creation of new, inventive milkshake varieties. To strengthen its position in the beverage sector, a new line of shakes in four flavors was introduced.

Aimed at young people, Amul Kool Milk Shake is a combination of milk and fruits (banana, mango, and strawberry), whereas Amul Kool Milk Shake Badam contains nuts. Tetra packs and cans were used to package the four kinds.

The market is expected to increase between 2023 and 2033 as a result of these types of cutting-edge product introductions.

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Inadequacy of Infrastructure, Hurdles in Conducting Business, and Profitability Concerns Challenges Currently Facing Market Growth

Despite the packaging industry’s preference, several factors are preventing the sector from growing. The market is being constrained by a lack of suitable infrastructure and operational challenges. To have a more individualized experience, certain classes of customers in certain regions prefer unpackaged milkshakes from local sellers, possibly merely in glasses.

Such consumer groups may be discouraged from choosing bottled milkshakes due to misconceptions about packaging. The packaged milkshake market is experiencing growing challenges as a result of these problems.

Key Takeaways

In a packaged milkshake, the chocolate flavor is one of the most popular tastes, and during the projection period, sales of this flavor accounted for 39.2% of total sales.
Paper dominated the market in terms of packaging material, accounting for 37.2% of global revenue during the forecast period.
Between 2023 and 2033, Asia Pacific had a 32.0% packaged milkshakes industry share.
The Middle East and Africa are anticipated to record a CAGR of 7.2% throughout the projection period.
By 2023, the market in India is predicted to reach US$ 16.68 billion, recording a CAGR of 12.9%. By 2033, it is anticipated that the Indian market is likely to be worth US$ 56.12 billion.

Competitive Landscape

The Hershey Company, CavinKare, Mother Dairy Fruits & Vegetables, Britannia, Friesland Campina, Danone, Nestle, GCMMF, Dean Foods, The Hershey Company, Muller UK & Ireland, and Mother Dairy Fruits & Vegetables are a few of the key market participants in the sector.

Due to the local merchants’ presence in the unorganized market and unpackaged milkshakes, the market has medium to low entry barriers. The packaged milkshakes industry is further fueled by novel flavor combinations and packaging innovations.

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Key Segments

By Flavor:

Chocolate
Vanilla
Strawberry
Others

By Packaging Material:

Glass
Tin
Paper
Plastic

By Region:

North America
Europe
Asia Pacific
The Middle East and Africa
Central and South America

Recent Development

Mother Dairy launched the brand ROCKET to the cutting-edge ice cream industry.

In July 2020, Mother Dairy debuted the brand ROCKET, joining the cutting-edge Ice Cream – Chocolate category with two revolutionary flavors: Belgian Chocolate and French Vanilla.

Neila, a brand mascot that represents Mother Dairy’s preferred color Blue, was also developed by the company! With the introduction of ROCKET Ice Cream – Chocolate, Mother Dairy continues to prioritize innovation and customer service.

CavinKare introduced cleaning goods under its personal care brands.

Beginning in March 2020, CavinKare introduced sanitizing goods at Re 1. The company has adopted its decision across all new SKUs, including 10 ML, 50 ML, 90 ML, 400 ML, 800 ML, and a 5-liter pack, and it is well within the government’s recently established pricing guideline.

The business has launched hand sanitizers under the personal care brands Chik and Nyle, as well as its professional brand Raaga.

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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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Indulging in the Flavors of Tomorrow Exploring the Rapid Growth of the Vegan Asian Food Market | FMI

Vegan Asian Food Market is a dynamic culinary sanctuary that combines creative plant-based dishes with the deep flavors of traditional Asian cuisine. This market serves vegetarians as well as foodies with a wide variety of delectable cuisine. It’s a haven for every pallet, with mouthwatering faux meats and tantalizing tofu creations.

The market for vegan Asian food is expected to grow from US$ 18,196.8 million in 2023 to US$ 30,806.3 million in 2033. It is anticipated that the market for vegan Asian cuisine will grow at a CAGR of 6%.

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As salaries increase, Asian consumers now have more disposable income to spend on food. This tendency is being driven by the growth and development of the local economy. Consumers with more disposable income can afford to purchase more expensive food items including processed meals, meat, and dairy. This could raise demand for both these products and high-end and opulent food items.

Consumer preferences are changing across Asia as people become more health conscious and look for foods that are low in sugar, salt, and fat. This trend is being driven by the increasing prevalence of lifestyle-related diseases including obesity and diabetes as well as a better awareness of the relationship between diet and health.

Consumers are looking for food products that can help them maintain a healthy diet and prevent these diseases. Therefore, firms that produce healthy and natural food products, such as organic and whole foods, as well as functional foods that provide health benefits, may have a significant opportunity to capitalize on this trend.

Government support is also a driver of the vegan Asian food industry. Governments in Asia are investing in the food industry to increase production and improve food security. This may lead to increased investment in the industry, the development of new technologies and products, and the creation of new jobs. Governments are also implementing policies and regulations to improve the safety and quality of food products. These policies may drive innovation and improvements in food safety and quality.

There are market prospects for innovation in the Asian vegan food industry.Businesses may develop new products and technologies to meet the changing needs of consumers. This could entail developing new flavours, packaging, and products that cater to specific market segments. The need for products to stand out and be distinctive in a crowded market is driving this trend.

Consumer worry about the reliability and calibre of food goods is rising. This tendency is being driven by an increased understanding of food-borne illnesses as well as the negative environmental effects of pesticides and synthetic fertilisers. Consumers look for food products that have been produced in compliance with food safety and quality regulations.

Key Takeaways

The vegan Asian food market is growing at a fast pace due to increasing demand for plant-based products.
The market is driven by factors such as rising incomes, urbanization, and changing dietary habits.
Countries like China, India, and the United Kingdom are considered attractive markets for vegan Asian food.
The market is expected to see increased competition from both established food companies and startups.

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Competitive Landscape

The competitive landscape in the vegan Asian food market is becoming increasingly crowded, with a growing number of companies entering the market. Traditional food companies are expanding their product offerings to include vegan options, while new startups are launching with a focus on vegan Asian food products.

In terms of startups, the vegan Asian food industry is relatively new and the ecosystem is still developing. However, several startups are making a name for themselves in the market. These startups are focused on developing new and innovative vegan Asian food products, such as plant-based meat, dairy, and other protein products. Some examples include Impossible Foods, Beyond Meat, and Omnipork, which are known for their plant-based meat alternatives.

Large food companies are also starting to enter the market, such as Nestle, Unilever, and Tyson Foods, which are investing in plant-based protein research and development.

Key Segments

Alternative:

Fish Alternative
- Vegan Sashimi
- Vegan Unadon
- Vegan Daing
- Vegan Hitsumabushi
Crab Alternative
- Vegan Black Pepper Crab
- Vegan Gejang
- Vegan Chilli Crab
- Vegan Mitten Crab

Distribution Channel:

Direct Sales
Indirect Sales
- Specialty Stores
- Hypermarket/Supermarket
- Online Retail

Region:

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

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Saucing Success Global Vegan Sauces Market Set to Double by 2033, Fueled by Health and Allergy Concerns

The global vegan sauces market is valued at $285 million and estimated to reach $545 million by 2033, growing at a 6.7% CAGR. This growth is driven by rising food allergies globally and a growing interest in veganism due to health benefits and animal welfare concerns.

The market for vegan sauces is currently valued at US$ 285 million, and it is projected to grow to US$ 545 million by 2033 at a compound annual growth rate (CAGR) of 6.7% between 2022 and 2032.

The global incidence of food allergies is expected to fuel a substantial expansion of the vegan sauce market throughout the forecast period.

Nowadays, a lot of films and documentaries are available on the internet that talk about adopting a vegan diet to save animals. Excessive positive health effects with few negative effects can be the reverse feature.

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The post-pandemic era is witnessing a greater consumption to vegan sauces as the end-consumers are preferring to bee preventive in place of curative. Vegan sauces in greater demand include vodka sauce, mayonnaise, alfredo sauce, pesto, and Worcestershire sauce. They are known for adding moisture, flavor, and visual appeal to a dish. Besides, dependence on packaged and premade sauces is increasing.

Online distribution channels are playing a vital role in propagating vegan sauces. Many offers are running on these channels regarding vegan sauces; like a different variety of vegan sauces is offered as a complementary product to the sauces asked for. The other add-on benefits include cash-back offers, and coupons.

Future Market Insights has etched these findings with insights in its latest market study entitled ‘Vegan Sauces industry’. It has its team of analysts and consultants deploying an eagle’s eye-view along macros and micros.

“The ongoing trend of veganism is driving the vegan sauces industry and the scenario is expected to remain unchanged in the forecast period”, says an analyst from Future Market Insights.

Key Takeaways from Vegan Sauces Market

North America holds the largest market share due to majority of the populace turning vegan since the last few years. Food Allergy Canada says that nearly 3 Million people based out of Canada are reported to have atleast one food allergy (mostly from eggs). As such, there is an increasing demand for vegan eggs. This factor is expected to take the vegan sauces industry by storm in the upcoming period.
Europe holds the second-largest market share with economies like Spain, France, the UK, Germany, and Italy leading from the front. This could be attributed to allergies resulting out of consumption of meat, egg, honey, milk, and likewise.
The Asia-Pacific is expected to grow on a good note in the vegan sauces industry going forward with rising consumption of other vegan sauces (apart from tomato-based) all through.

Competitive Sauces

Sir Kensington’s is known for creating ketchup made out of organic vinegar, sun-ripened tomatoes, and organic sugar.
Heinz, which was known for conventional ketchup, did come up with ketchup’s vegan version in the year 2018. Nevertheless, it did market it as a more sustainable and a healthier alternative to the conventional one.
Primal Kitchen (known for vegan sauces and condiments) has entered into partnership with Whole Foods and Amazon for increasing its products’ availability in more number of locations.
The Honest Stand does source ingredients from organic and sustainable farms and makes use of eco-friendly packaging.
Follow Your Heart, in October 2021, did launch Dairy-free Bleu Cheese Crumbles after successful ‘Dairy-Free Feta Crumbles’ (launched in 2020). This product has been advertised to be good for crostini, salads, or even on sprinkling over pizza.
Daiya Foods Inc., in July 2021, tabled an e-Commerce site for direct access to the plant-based food line. The player is amongst the well-known dairy-free cheese manufacturers in Canada and the US.
Michelin chefs Eoin Lennon and Gavin Cassidy, in March 2020, started ‘Porter & Nash’ with initial investment of EUR 55,000. It offers a fat-free, gluten-free sauce called kombu seaweed-based vegan sauce.

What does the Report enclose?

The research study is based on product type (tomato-based, mustard-based, BBQ, hot sauces, and likewise), and by distribution channel (supermarkets, health food stores, online retailers, and likewise).
With rising demand for plant-based alternatives, the global vegan sauces industry is likely to grow on an astonishing note going forward.

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Key Segments

By Product Type:

Tomato-based
Mustard-based
BBQ
Hot sauces
Others

By Distribution Channel:

Supermarkets
Health food stores
Online retailers
Others

By Region:

North America
Latin America
Europe
Asia Pacific (APAC)
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 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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Pet Insurance Market is Expected to Increase at a CAGR of 16.8% by 2033 | FMI

With an estimated worth of US$ 9.53 billion in 2023, the pet insurance market anticipates significant expansion, targeting a staggering US$ 40 billion by 2033. Projections suggest a robust adoption rate, poised to advance at an impressive Compound Annual Growth Rate (CAGR) of 16.8% throughout the forecast period. This upward trajectory reflects the increasing recognition of pets as integral family members and the growing awareness of the importance of their healthcare needs. As the market continues to evolve, stakeholders have ample opportunities to capitalize on the rising demand for pet insurance, catering to the evolving needs of pet owners worldwide.

This customization fosters a deeper sense of care, resonating with pet parents who seek tailored protection for their beloved companions. The integration of technology is revolutionizing the industry. Digital platforms offer seamless claim processing, real-time health monitoring, and telemedicine services, simplifying interactions between pet owners and insurers. This tech-savvy approach enhances convenience and nurtures a stronger bond between pets and their human counterparts.

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Sustainability is also taking center stage. Eco-conscious pet parents seek insurance providers that align with their values by offering coverage options for holistic and alternative treatments, encouraging a more sustainable and natural approach to pet healthcare. In terms of opportunities, the untapped market of senior pet insurance is gaining traction. As pet longevity increases, there is a growing need for policies that address age-related conditions and provide comprehensive care for older animals.

Key Takeaways from the Pet Insurance Market:

As per FMI, the United States is spearheading the growth across North America, augmenting at a CAGR of 16.7% during the forecast period.
Sales of pet insurance are expected to surge at 6% CAGR across India in the next ten years.
United Kingdom is expected to surge at a CAGR of 16.5% by 2033.
Anticipated in 2023, the accident and illness policy category is projected to lead the market, encompassing approximately 47% of the global market share.
By end user, dog pet insurance is poised to expand at over 9% CAGR by 2033.

“The remarkable expansion of the pet insurance industry mirrors an increased consciousness regarding the welfare of pets. Customized plans and expanding coverage options signal a promising and evolving landscape”, remarks an analyst at FMI.

How Key Players are revolutionizing the Pet Insurance Market?

Key players are catalyzing a transformative shift in the pet insurance market. By offering tailored coverage, personalized plans, and seamless digital experiences, they are reshaping how pet owners protect and care for their companions. Collaborations with veterinary networks ensure comprehensive healthcare, while educational initiatives empower informed decisions.

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This revolution transcends financial security, embracing pet wellness and responsible ownership. Through innovative approaches and unwavering commitment, key players are paving the way for a future where pets receive optimal care, owners are empowered, and the pet insurance market plays an integral role in nurturing the well-being of beloved animals.

Product Portfolio

Embrace Pet Insurance Agency, LLC presents a comprehensive product portfolio dedicated to safeguarding furry companions. Their offerings include tailored insurance plans that cover medical emergencies, routine care, and wellness programs, epitomizing a commitment to holistic pet health and providing peace of mind to pet owners.
Figo Pet Insurance LLC displays an innovative product portfolio designed to redefine pet protection. From comprehensive health coverage to real-time pet tracking and digital pet healthcare tools, their range seamlessly blends technology with compassion, ensuring pets receive optimal care and owners stay connected.
Hartville Group, a leader in pet insurance, offers a diverse product portfolio that champions pet well-being. Their range includes customizable insurance plans for various breeds and ages, encompassing everything from accidents to preventive care, reflecting a dedication to nurturing happy, healthy pets through every life stage.

Key Companies Profiled

Embrace Pet Insurance Agency LLC
Figo Pet Insurance LLC
Hartville Group
Nationwide
Pet Assure Corp
PetFirst
Ipet Insurance
Pets Best Insurance Services LLC
Royal & Sun Alliance (RSA)
Trupanion

More Insights Available

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

To understand opportunities in the pet insurance market, the report is segmented on the basis of policy type (accident, accident & illness and embedded wellness), and end user (dogs, cats, horses, exotic pets and others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).

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Market Segmentation

By Policy Type:

Accident
Accident & Illness
Embedded Wellness

By End User:

Dogs
Cats
Horses
Exotic Pets
Others

By Region:

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

About the Consumer Products Division at Future Market Insights

The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and 1 Billion+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.

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