Market Research Blog – Page 3733 – New Product Development

United States Lidding Film Industry: Projected to Reach US$ 1,222.3 Million by 2033, Reflecting Growth in Packaging Sector

According to recent data, lidding film sales in the United States reached US$ 721.7 million in 2022 and are expected to grow by 4.2% year-on-year in 2023. Looking ahead, the demand for lidding films in the United States is forecasted to experience a steady increase, with a projected compound annual growth rate (CAGR) of 4.9% over the forecast period. The latest industry analysis indicates a positive trajectory for lidding film demand, with total revenue in the country estimated to climb from US$ 755.4 million in 2023 to US$ 1,222.3 million by 2033.

Revenue in the United States is poised to more than double by 2033, with an estimated compound annual growth rate (CAGR) of 2.1%, surpassing historical figures. This growth trajectory is driven by increased demand for packaged food products, a rising preference for flexible packaging solutions, and the growing necessity to prolong the shelf life of food and pharmaceutical items. The market’s expansion reflects evolving consumer trends and industry requirements, emphasizing the critical role of lidding films in meeting the demand for efficient and sustainable packaging solutions in the United States.

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Business Growth Drivers:

Growing Demand for Convenience Packaging: As consumer lifestyles become increasingly fast-paced, there’s a rising demand for convenient packaging solutions like lidding films, which offer easy-open features and resealability, enhancing consumer convenience and product freshness.
Focus on Sustainability: With growing environmental concerns, there’s a push towards sustainable packaging solutions. Lidding films that are recyclable, compostable, or made from bio-based materials are gaining traction, driven by consumer preferences and regulatory pressures for eco-friendly packaging.
Innovations in Material Science: Advancements in material science are enabling the development of lidding films with improved barrier properties, extending shelf life, enhancing product protection, and reducing food waste. Innovations such as high-barrier coatings and active packaging technologies contribute to the growth of the industry.
Rise in Ready-to-Eat and Convenience Foods: The increasing consumption of ready-to-eat meals and convenience foods, coupled with the growth of online food delivery services, fuels the demand for lidding films suitable for microwave and oven applications, as well as those compatible with various packaging formats.
Technological Advancements in Manufacturing: Continuous technological advancements in manufacturing processes, such as improved printing techniques, enhanced sealing technologies, and automation, lead to higher production efficiency, lower costs, and improved product quality, driving the growth of the lidding film industry.

Industry Restraints:

Regulatory Compliance and Safety Standards: The lidding film industry is subject to stringent regulatory requirements and safety standards, particularly in food packaging, which can increase compliance costs and pose challenges for smaller manufacturers or those operating with outdated equipment.
Price Volatility of Raw Materials: Fluctuations in the prices of raw materials, such as plastics and adhesives, impact the manufacturing costs of lidding films. Price volatility can affect profit margins and competitiveness within the industry, especially for companies without long-term supply contracts or hedging strategies in place.
Competitive Landscape and Price Pressures: The lidding film industry is highly competitive, with numerous players competing on factors such as price, product quality, and innovation. Intense competition can exert downward pressure on prices, squeezing margins for manufacturers and limiting profitability.
Consumer Preferences and Market Trends: Changing consumer preferences, such as a shift towards alternative packaging formats or materials, can pose challenges for lidding film manufacturers. Adapting to evolving market trends requires flexibility and investment in research and development to stay ahead of consumer demands.
Waste Management and Environmental Concerns: Despite efforts towards sustainability, the disposal and recycling of lidding films remain a challenge due to limited infrastructure for collecting and processing flexible packaging materials. Addressing end-of-life issues and promoting recycling initiatives are essential for mitigating environmental impacts and improving the industry’s sustainability profile.

Key Players:

Amcor Plc
Sonoco Product Company
Graphic Packaging International, LLC
Sealed Air Corporation
Berry Global Inc
Novolex Holdings, LLC
Klöckner Pentaplast Group
Profol GmbH
Dunmore
ProAmpac Holdings Inc.
Toray Plastics
Plastopil BV.
Mondi Plc
Momar Industries
Dupont Teijin Films U.S.
Dow Inc.

Recent Developments:

In February 2023, the launch of a line of extended shelf-life refrigerated meals was announced by Preferred Packaging.
In January 2022, Sonoco Products Company further enhanced its food packaging portfolio through the acquisition of Ball MetalPack, a leading manufacturer of metal food and household packaging.

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Key Segmentations

By Product:

Dual-Ovenable Lidding Films
Speciality Lidding Films
High Barrier Lidding Films
Breathable Lidding Films
Die-Cut Lidding Films

By Material:

PE
PET
- APET
- CPET
PP
PVC
Polyamide
EVOH
Aluminum
Others

By Application:

Cups
Trays
Cans & Bottles
Jars
Others

By End Use:

Food
Pharmaceutical
Personal Care & Cosmetics
Other Industries

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

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United States and Canada Child Resistant Bottles Market Opportunities: Industry to Reach US$ 1.59 Billion by 2030

Child-resistant bottles, also known as childproof bottles or safety bottles, are specially designed packaging containers intended to prevent children from accessing potentially harmful substances such as medications, chemicals, or household cleaners. These bottles incorporate mechanisms that make them difficult for young children to open, thereby reducing the risk of accidental ingestion or exposure.

The United States and Canada child resistant bottles market is poised for substantial growth, with a projected valuation of approximately US$ 1.06 billion by the year 2023. This upward trajectory is expected to continue, as the market is estimated to expand at a commendable compound annual growth rate (CAGR) of approximately 5.9% from 2023 to 2030. By the culmination of the forecast period in 2030, the market is anticipated to achieve a noteworthy valuation of about US$ 1.59 billion.

The United States and Canada child-resistant bottles market is poised for significant growth in the coming years, with estimations suggesting a promising outlook. Projections indicate that the market will offer substantial incremental growth potential, with an anticipated opportunity of US$ 523.4 million over the next decade.

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Drivers:

Healthcare Industry: Child-resistant bottles are commonly used in the pharmaceutical and healthcare sectors, and the growth of these industries drives the market for child-resistant packaging.
Regulatory Compliance: Stringent regulations and child safety standards require the use of child-resistant packaging, driving the demand for child-resistant bottles in both countries.
Child Safety Concerns: Increasing awareness of child safety and a desire to prevent accidental ingestions or poisoning incidents fuel the adoption of child-resistant bottles.
Medical Marijuana and Cannabis Industry: The legalization of medical marijuana and cannabis in various states in the United States and Canada has created a need for child-resistant packaging solutions, boosting the market.
Consumer Awareness: Parents and caregivers are increasingly conscious of the need for child-resistant packaging, leading to greater demand for such bottles.
Technological Advancements: Ongoing advancements in child-resistant bottle design and materials contribute to the market’s growth.

Restraints:

Production Costs: Child-resistant bottles can be more expensive to manufacture compared to standard packaging, leading to increased production costs.
Design Complexity: Child-resistant packaging may be more complex to use, which can sometimes frustrate adult consumers and lead to challenges in product adoption.
Limited Applications: Child-resistant bottles are primarily used in industries where safety is a priority, limiting their application to specific sectors.
Competing Packaging Solutions: Alternatives such as blister packaging and pouches may compete with child-resistant bottles in certain industries.
Environmental Impact: The use of child-resistant packaging materials can raise environmental concerns, particularly if they are not recyclable or biodegradable.
Consumer Preferences: Some consumers may prefer more user-friendly packaging and may be deterred by the design complexity of child-resistant bottles.

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Key Players:

Berry Global Inc.
COMAR LLC.
O.BERK
Origin Pharma Packaging
SGD Pharma
KISICO GmbH
BERICAP
Weener
NEUTROPLAST
FH Packaging
United States Plastics Corp
Berlin Packaging
SKS Bottles & Packaging, Inc
C.L Smith

United States and Canada Child Resistant Bottles Market Outlook by Category

By Material:

Plastic
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Others (PVC)
Glass
Metal
Paper & Paperboard

By Capacity:

15 ml to 100 ml
101 ml to 500 ml
501 ml to 1000 ml
Above 1000 ml

By Closures:

Push & Turn
Squeeze & Turn
Snap On
Dropper

By Country:

United States
Canada

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Cornstarch Packaging Market Rising to US$ 1,145.0 million with 17.3% CAGR by 2033

The Cornstarch Packaging Market is expected to see tremendous growth in the coming years. In 2023, the market size is projected to be valued at US$ 233.0 million, and it is anticipated to rise to US$ 1,145.0 million by 2033. The sales of cornstarch packaging are expected to expand at a remarkable CAGR of 17.3% during the forecast period.

With increasing awareness of the environmental impact of plastic, corn starch-based packaging has the potential to capture a significant market share in the coming years.

During the pandemic, customers shifted to single-use plastics to protect their health and hygiene. However, with increasing immunization rates, customers and businesses are now focusing on sustainability.

Unlike traditional packaging materials like plastic, cornstarch packaging is made from renewable resources and can be biodegraded or composted after use.

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The complexity and cost of switching from plastic to cornstarch packaging are significant variables that could affect market growth.

Growth Factors

Embracing corn-starch packaging brings forth a dual benefit, aligning advantages for both businesses and the environment, rendering it a highly valuable choice. Opting for corn-starch packaging not only demonstrates social responsibility for companies but also appeals to environmentally conscious customers who actively seek out eco-friendly businesses.

In an era where customers are increasingly informed about greenwashing and scrutinize the materials used in packaging, it becomes imperative for companies to adapt and integrate sustainable changes. Employing corn-starch packaging not only addresses these concerns but also positions companies as leaders in environmental stewardship.

Drivers:

Sustainability and Environmental Concerns: The growing emphasis on sustainability and eco-friendliness has fueled the demand for cornstarch-based packaging, as it is biodegradable, renewable, and reduces the environmental impact of traditional plastics.
Regulatory Support: Government regulations and policies promoting the use of biodegradable and compostable materials have encouraged businesses to adopt cornstarch packaging.
Consumer Preference: Increasing consumer awareness of environmental issues and their preference for eco-friendly products have driven manufacturers to incorporate cornstarch packaging to meet consumer demands.
Retailer Initiatives: Retailers and businesses are actively adopting sustainable packaging practices to appeal to environmentally conscious consumers, driving the demand for cornstarch packaging.
Brand Image: Companies using cornstarch-based packaging can enhance their brand image as environmentally responsible, attracting eco-conscious customers and improving their market position.

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Regional Insights

Europe, with a market share of 30.6% in 2022, is a significant market for cornstarch packaging products. Due to rising consumer demand and government regulations to limit plastic waste.

The United Kingdom witnessed a growth rate of 14.6% during the analysis period. It is also a growing market due to government measures to ban single-use plastic products.

The United States, holding a market share of 14.1% in 2022, is another significant market for cornstarch-based packaging products. As many businesses seek sustainable packaging solutions to meet consumer demand for eco-friendly products and reduce their environmental impact.
The Asia Pacific region, with a growing middle class and increasing demand for packaged food and beverages, is another growing market for cornstarch-based packaging products. Additionally, China is set to record a CAGR of 19.7% between 2023 to 2033.

India is also witnessing a growing demand for cornstarch-based packaging products, with a CAGR of 17.2% during the analysis period. Driven by increased awareness of the benefits of recycling and bioplastics.

Key Players

Amcor Ltd.
Constantia Flexibles Group GmbH
Berry Global Group, Inc.
Huhtamäki Oyj
Sonoco Products Company
Bemis Company, Inc.
Sealed Air Corporation
AR Packaging Group AB
Mondi Group
DS Smith Plc
CCL Industries Inc.

Key Segments Covered in the Cornstarch Packaging Market Report

By Product Type:

Pouches

Bags

Boxes

Tableware

By End Use:

Food

Personal Care and Cosmetics

Pharmaceuticals

Retail

Textile

By Sales Channel:

Online

Offline

By Region:

North America

Latin America

Western Europe

Eastern Europe

Asia Pacific Excluding Japan (APEJ)

Japan

The Middle East & Africa (MEA)

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Migratory Birds Tourism Market Takes Off: US$ 35 Billion Valuation Projected with 7% CAGR by 2032 | FMI

The migratory birds tourism market is poised to reach a valuation of US$ 12 Billion in 2022. Sales are projected to increase at a 7% CAGR, with the market size reaching US$ 35 Billion by 2032.

The migration of birds mainly takes place during the harsh winters which are extremely difficult for most of the living beings to survive. These migratory flights usually start from northern to the southern part of the world. Birds migrate majorly because of scarcity of food during extremely cold temperatures and breeding. There are various species of birds that migrate because of unsuitable conditions for survival during extreme climatic shift to several locations.

These birds travel large distances across countries and sometimes continents. These unique species attracts birdwatchers by their elegance and magnificence.

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There has been a rise in the number of people interested in bird watching, while migratory birds are fascinated by most of the population. The wild life photographers are interested in these spectacular species of birds as well, increasing the potential of bird watching audience. While governments and associations all over the world are taking great initiatives to tackle the restraints in the migration of birds and their survival. This has increased the amount of destinations in migratory birds’ flight routes. The tour providers are coming up with exciting packages to gain attention of more and more tourists. This has provided a rigid foundation for the extension of Migratory Birds Tourism Market and is anticipated to grow at an appreciable pace.

Key Takeaways:

Based on age of tourists, 35-45 and 46-55 years segment are predicted to account for a dominant share of Travelers in the market through 2032.
By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly ~75%.
Based on packages, Migratory Birds tourism travelers will continue to opt packaged deals over the normal travel deals.

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Key Manufacturing Companies

India Bird Watching
Junglelore Pvt Ltd
Yatra.com
Travel Tour World
National Geographic Partners
Shikhar Travels
Ranthambore natoinal park.com
Toehold Travel
Himalaya Birding
Nature trip

Key Segmentation by Migratory Birds Tourism Market

By Bird Type, Migratory Birds Tourism Market is segmented as:

Greater Flamingo
Artic tern
Siberian Crane
Great White Pelican
Others

By tour duration, Migratory Birds Tourism Market is segmented as:

1-3 days
4-6 days
7 days and more

By Booking Channel, Migratory Birds Tourism Market is segmented as:

Phone Booking
Online Booking
In Person Booking

By Tourist Type, Migratory Birds Tourism Market is segmented as:

Domestic
International

By Tour Type, Migratory Birds Tourism Market is segmented as:

Independent Traveler
Tour Group
Package Traveller

By Age Group, Migratory Birds Tourism Market is segmented as:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
56-65 Years
66-75 Years

By Region, Migratory Birds Tourism Market is segmented as:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Rotels Market Eyes US$ 79.9 Billion and 11.6% CAGR by 2032 | FMI

The Rotels market is estimated to reach US$ 22 Billion in 2022. As per the report, sales are forecast to increase at a robust 11.6% CAGR, with the market valuation reaching US$ 79.9 Billion by 2032.

Travelers all around the world are always looking for something new and interesting to feed their unceasing desire of wanderlust. Searching for good place to stay along with traveling often makes the tour hectic for the travelers. This scenario is taken care by just opting for a rotel suitable for traveler’s route.

Once they have decided the type of rotel according to their wish, the only job left for the travelers is to enjoy their journey without any extra complications that might add on when travelling individually or when the travel and accommodation has to be operated separately.

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Rotels also offer exciting tour packages with luxurious experience which is something every traveler craves for. These travel tours often comprise of pilgrim routes, routes that have historical and cultural importance and also the routes with heart melting scenic views.

In addition to this, there are several emerging companies who are willing to have a share of this market. Hence, the promotion of these new hotels on wheels is happening on a great pace gaining the attention of tourists. These new companies are taking rotel concept on next level by addition of new routes of travel and world class cuisine offered on board.

Key Takeaways from the Rotel Market Study

Germany followed by India dominated the market and held the largest revenue share of in 2021. Germany, India and France are the key markets for Rotel globally.

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In terms of booking channel, online booking segment is estimated to account for the relatively highest value share in the Rotel market as this mode of booking is very convenient and various discounts and offers by the agencies encourage tourist to opt for online mode of booking.
In terms of vehicle type, railway segment leads in terms of market share as there are lot of options and traveling by railway provides more comfort and luxury.
In terms of tourist type, domestic segment dominated the Rotel market in 2021, as travellers are more familiar with the rules, laws and tax policies pertaining in their region.
In terms of age group, 26 to 35 age segment dominated the market, as they are energetic, inquisitive, and adventurous, with a positive attitude toward indulging in and exploring new places, as well as having a general understanding of their respective culture and theme.

Key Players

Das Rollende Hotel
Truck Surf Hotel
Radisson Blue
Georg Höltl GmbH & Co.KG (Rotel Tours)
Audley Travel Group Limited
Palace on Wheels
Midnight Trains

Rotel Market by Category

By Vehicle Type Rotel Market is segmented as:

Railway
Bus
Van

By Booking Channel Rotel Market is segmented as:

Phone Booking
Online Booking
In-person Booking

By Tourists Type, Rotel Market is segmented as:

Domestic
International

By Tour Type, Rotel Market is segmented as:

Independent Traveler
Tour Groups
Package Traveler

By Age Group, Rotel Market is segmented as:

15-25 Years
26-35 Years
36-45 Years
46- 55 Years
56-65 Years
66-75 Years

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Alaskan Cruises Market to Spearhead with US$ 2.51 Billion Revenue and 3% CAGR by 2032 | FMI

The Alaskan cruise market is poised to reach a valuation of US$ 1.87 Billion in 2022. Sales are projected to increase at a 3.0% CAGR, with the market size reaching US$ 2.51 Billion by 2032

Various attractive tour packages are offered by a number of cruising lines. Travellers who were locked at their homes were eagerly waiting for an opportunity. Cruising lines providing new offers and packages has gained the interest of these travellers. The cruising lines are also set to make the most out of the opportunity by launching new luxury cruises and exciting activities to add on to the consumer’s cruising experience. Consumers are increasingly interested in unique experiences like Fishing, Wildlife, Northern Lights, Denali, Hiking, Camping, Glaciers, and many more of such activities.

The U.S Government is also taking special effort to get the tourism and cruising in the Alaskan region back on track. U.S. Government introduced bicameral legislation to provide a one year extension of the Alaska Tourism Restoration Act (ATRA). This act was signed into the law in May 2021. This new act ensures that if Canada restricts its borders for foreign passengers, the Alaska delegation is ready and able to again temporarily authorize foreign-flagged passenger vessels to bypass Canada.

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Besides this, in order to expand the range of business and also to contribute to the prevention of environmental changes, the top players in the Alaskan cruising market are developing new ships that will be ecofriendly. These new ships will not emit greenhouse gases and thus help in saving preventing the pause in obstacles in cruising due to recurring natural disasters. This will also gain the attention of travelers that care about environment and increase the number of people opting for cruise travel.

Key Takeaways:

Based on cruise destination, Juneau is predicted to account for a dominant share of Travellers in the market through 2032.
By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly 58%.
In terms of age group, demand in the senior citizens will continue gaining traction through 2032.
Based on packages, Alaskan cruise travelers will continue to opt packaged deals over the normal travel deals.
Alaska will have travelers throughout the year but cruising season will have rush in the span from May to September.

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Who is winning?

Leading players in the Cruising market are focusing on smart promotional strategies, advertisements, and new packaged deals to improve sales in the market.

Major players present in the Alaskan Cruise Market

Holland America Line
Carnival Alaskan Cruises
Celebrity Alaskan Cruises
Norwegian Cruise Line
Carnival Cruise Line
G Expedition
Discerning traveler
Trafalgar
Quark Expedition
Aurora Expedition
Cruiser Adio

Alaskan Cruise Market by Category

By Cruise Destinations Type:

Juneau
Ketchikan
Skagway
Seward
Sitka

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Tour Type:

Independent Traveler
Tour Group
Package Traveller

By Age Group:

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

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Travel & Tourism User Generated Content Market Predicted to Hit US$ 744.38 Million by 2032 | FMI

As per a recent market analysis by Future Market Insights (FMI), the travel & tourism user generated content market is poised to reach a valuation of US$ 184 Million in 2022. Sales are projected to increase at a 15% CAGR, with the market size reaching US$ 744.38 Million by 2032.

User-generated content (UGC), is any type of content that users have uploaded to online spaces like social media, forums, and wikis. Examples include photographs, videos, text, and audio. It’s a product that users make to share information on online goods or the companies who sell them. Applications for user-generated material are numerous and include issue solving, news, entertainment, customer interaction, advertising, rumors, research, and many more. It serves as an illustration of how traditional media hierarchies are flattening and content generation becoming more democratic.

By 2020, businesses will be using user-generated content more and more to market their goods because it is considered as a genuine and affordable approach to boost a brand’s reputation and sales. The Internet offers an easy platform to develop and disseminate user-generated content because of new media and technology affordances, such as low cost and low barriers to entry, which allows the transmission of information at a quick rate in the wake of an event.

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Tourism organizations cannot afford to ignore the growth of user created content, and online communities. In contrast to being irrelevant, blogs are frequently seen as more legitimate and trustworthy than conventional marketing communications. Customers trust websites with reviews more than professional guides and travel firms. However, there is a problem: given the enormous number of potentially appropriate travel blogs, finding, extracting, and interpreting blog content has so far proven to be time-consuming, draining, and expensive, offsetting the relative worth of the information acquired. A blog visualization system or the application of artificial intelligence and “opinion mining” could be a solution.

Key Takeaways from the Travel & Tourism User Generated Content Market Study:

Marketing companies are largely engaged in promoting usage of user generated content for travel industry.
The Covid-19 pandemic had an 80% impact on the value of the Travel & Tourism User Generated Content Market.
Social media, Blogs, Video sharing services are the most popular Platform types in the Travel & Tourism User Generated Content Market.
Online booking channels lead the charts in Travel & Tourism User Generated Content Market booking channel segmentation.

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Who is winning?

The top players are able to maintain their competitive advantage in the industry by offering all-inclusive packages and saving travellers from the hassle of browsing many channels for their trips. The market is being stimulated by government investments and efforts, which have also helped enterprises improve the services they offer. The pandemic has significantly increased the use of online multimedia as well as the production and proliferation of informational content across numerous channels (social media networks, blogs, whitepapers, etc.).

Key Players

Travel Technology & Solutions
Amara Marketing and among others

The Travel & Tourism User Generated Content Market by Category

By Platform Type:

Social media
Blogs
Video sharing services

By Type of Content:

Photos
Videos
Blogs
Infomercials

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Tour Type:

Independent Traveller
Package Traveller
Tour Group

By Consumer Orientation:

Men
Women

By Age Group:

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

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Home Office Spending Market witnesses unprecedented growth, reaching US$ 29,388.12 million valuation in 2023

The size of the global home office spending market is anticipated to be US$ 29,388.12 million in 2023 and to grow at an impressive CAGR of 17% to reach a valuation of US$ 141,263.65 million by the end of 2033.

Key elements that could fuel market expansion include:

expanding the use of remote work, particularly in the wake of the COVID-19 pandemic.
modern IT solutions to defend against cyberattacks.

Given the current state of social estrangement, many businesses are giving cloud computing services top priority and enabling remote access to their corporate networks because remote working has become urgently necessary.

On the other hand, remote working options broaden the potential points of entry for cybercriminals. IT systems that are remotely managed negatively impact security services in every way. to ensure safety and minimise risks. Solution providers develop and uphold a customised risk management plan.

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The application of home office spending equipment implies incremental usage of cloud-based models. The companies are willing to invest millions of dollars in cloud-based models as it is crucial for storing massive amounts of data, which can be accessed from anywhere. This is further supported by the increasing penetration of the internet and rapid urbanization.

The manufacturers are of the view that these assist the Information Technology firms in particular from cyberattacks. Owing to this, the Information Technology market in particular is betting on home office spending equipment.

Key Takeaways:

In 2023, the market size is expected to be at US$ 29,388.12 million.
By 2033, the valuation is expected to reach US$ 141,263.65 million.
The CAGR during the forecast period is anticipated to be at 17%.
On the basis of regional analysis, North America is expected to hold the dominant market share.
The United States market is expected to record a CAGR of 11.9%.
German market is anticipated to post a CAGR of 13.35%.
China market is projected to register a CAGR of 16.38%.
Japanese market is expected to advance at a CAGR of 19.59%.
South Korean market is projected to record a CAGR of 22.77%.
On the basis of deployment, the cloud segment is expected to hold the dominant market share and is anticipated to record a CAGR of 14%.
On the basis of application, the business productivity segment is projected to hold the dominant position, and is expected to post a CAGR of 15.1%.

Competitive Landscape:

The key players in the home office spending market are putting huge amounts of money on mergers and acquisitions. The key idea is to increase the market share. The manufacturers are also bringing on board executives who have been a part of the sector for decades, and have helped the previous companies deliver higher numbers. With sectors taking proactive measures to reduce carbon footprints, the key players are also implementing measures to ensure that emission remains minimal. The strategic partnership is also a part of the long-term plan as it may enable the manufacturers in knowledge and technology sharing.

Significant developments in the home office spending market:

In December 2022, Amazon Web Services and American Family Insurance teamed up to drive innovation in the insurance industry.
In January 2023, Avaya was named the leader position in the inaugural report from Aragon Research for Conversational AI (CAI) in the Intelligent Contact Center.

Key Players focus on Collaboration to work on Data Safety
The strategic collaborations mainly focus on improving the experience of organizations, thereby laying huge emphasis on data security. Through this, the customers can also migrate existing workloads, which may help in capacity expansion as well. In January 2023, Red Hat and Oracle expanded collaboration to bring Red Hat enterprise Linux to Oracle Cloud Infrastructure.

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Home Office Spending Market Segmentation:

By Solution:

Home Office Tools
Home Office Services

By Deployment:

Cloud
On-Premise

By Application:

Business Productivity
Information Security
Enterprise Communication
Others

By Region:

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

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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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USA and Canada Bag-in-Box Market Size: Industry Anticipated US$ 473.0 Million by 2033

Bag-in-box (BIB) is a type of packaging format that consists of a collapsible bag typically made of a flexible material such as plastic, aluminum foil, or other barrier films, placed inside a rigid outer box or container. This packaging design is commonly used for the storage and dispensing of liquids, particularly beverages and liquid foods, but it can also be used for non-food products such as chemicals and pharmaceuticals.

By 2033, the USA and Canada Bag-in-Box Market is expected to witness tremendous growth of US$ 473.0 million & likely to surge at 5.1% CAGR over the years between 2023 and 2033.

A key driver behind this remarkable growth trend is the rising consumer demand for eco-conscious and sustainable packaging solutions. Bag-in-box packaging, in particular, stands out as an environmentally friendly option that contributes to a significant reduction in carbon emissions associated with product shipping and storage.

The appeal of bag-in-box packaging extends across diverse industries, encompassing not only food and beverages but also pharmaceuticals and chemicals. Its recyclability and eco-friendly attributes make it a preferred choice, aligning with the sustainability goals of various sectors.

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Drivers:

Cost-Efficiency:Bag-in-Box packaging can be a cost-effective choice for both manufacturers and consumers. It reduces packaging material costs, lowers shipping expenses, and minimizes storage space, making it an attractive option for various products.
Growing Demand for Sustainable Packaging: Consumers in the USA and Canada are increasingly seeking sustainable and eco-friendly packaging solutions. Bag-in-Box packaging, which is often recyclable and reduces waste, is gaining popularity due to its environmental benefits.
Extended Shelf Life:Bag-in-Box packaging offers effective protection against oxygen and light, prolonging the shelf life of products, particularly liquids like wine and fruit juices. This extended shelf life can reduce product waste and costs.
Versatility:Bag-in-Box packaging is versatile and adaptable for various industries, including wine, juice, dairy, and industrial liquids, which contributes to its widespread adoption.
Wine Industry Growth:Bag-in-Box packaging has gained significant traction in the wine industry due to its ability to preserve the quality and freshness of wine. The increasing popularity of wine consumption in the USA and Canada has driven demand for this packaging type.
Efficient Dispensing:Bag-in-Box packaging allows for efficient dispensing and portion control, making it suitable for both commercial and consumer applications.

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Competitive Landscape: The USA and Canada Bag-in-Box Market Landscape

The manufacturers of bag-in-box present in the USA & Canada are focusing on developing innovative bag-in-box packaging solutions.

For instance,

In January 2021, Liqui-Box Corporation developed an innovative bag-in-box packaging solution called Eco-Flex. This bag is made from a unique blend of materials that includes renewable resources, and it has a reduced amount of plastic content.

In February 2022, Scholle IPN Corporation developed an innovative bag-in-box packaging solution called Bag-in-Bottle. This technology involves placing a high barrier bag inside a rigid bottle. This system reduces the amount of oxygen that comes into contact with the product, which helps to preserve its freshness and taste.

Some of the key players dominating the USA and Canada Bag-in-Box Market are Smurfit Kappa Group Plc, DS Smith Plc, Scholle IPN Corporation, Liqui-Box Corporation, Aran Group, Goglio S.p.A., CDF Corporation, Vine Valley Ventures LLC, TPS Rental Systems Ltd, ABCO Automation, Inc., International Paper, Mondi plc, Vine Valley Ventures LLC and many more.

Market Segmentation

By Capacity:

Less than 2 Liters
2 to 3 Liters
4 to 20 Liters
20 to 25 Liters
Above 25 Liters

By Material:

Polyethylene (PE)
Ethylene Vinyl Acetate
Metallized-PET
Ethylene Vinyl Alcohol
Nylon
Foil

By Application:

Dairy Products
Tomato Pulp/Sauces, Vinegar & Flavouring
Processed Fruits and Vegetables Puree
Liquid Egg Products
Wine & Spirits
Fruit Juice
Water
Cookies
Cereals
Oil
Chemical Solutions
Liquid Detergent

By End Use:

Retail
Food
Beverage
Other B2B Industry
- Chemical
- Homecare
- Cosmetics & Personal Care

By Country:

The USA
Canada

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Zoned Flash Market Accelerates, Anticipating 36.7% CAGR Towards US$ 9,194.51 Million by 2033

The zoned flash market is expected to be worth US$ 403.5 million in 2023. Zoned flash device sales are predicted to expand at a 36.7% CAGR and achieve a market valuation of US$ 9,194.51 million by 2033.

The ongoing COVID-19 epidemic has resulted in a major increase in cyberattacks, with multiple organizations reporting compromises across online platforms and data theft. As a result, enterprises have increased their spending on hardware-based storage systems, providing excellent growth possibilities for the zoned flash industry. As data assimilation becomes more sophisticated, significant businesses are taking advantage of the circumstance to increase their market position.

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Key Takeaways from the Zoned Flash Market Report:

The global zoned flash market will surpass US$ 3.5 Bn by the end of the forecast period.
In terms of the drive surface, the SATA category is anticipated to account for maximum sway in the global market.
Based on the component, the SSD management software category will rise to reach a market valuation of over US$ 2.6 Bn by 2030.
In terms of end-user, business enterprises will witness impressive growth prospects, reaching at an estimation of US$ 1.2 Bn through 2030.

Zoned Flash Market — Key Trends

The implementation of solid-state drives (SSDs) is acquiring significant traction within the global market.
The provision of using larger capacity devices in a more cost-efficient way that enables proficient system-wide performance management has opened up impressive growth prospects for the zoned flash market.
Non-Volatile Memory Express (NVMe) host controller interface provisions are egressing as the keystone of the global market

Zoned Flash Market — Regional Analysis

North America is poised to register a monumental CAGR of 36.8% during 2020–2030 due to various notable developments concerning data collation.
Europe will witness a substantial scenario shift due to favorable pricing policies introduced by governments across the region.
East Asia will be the fastest-growing region recording a dexterous CAGR of 42.8% owing to the flexibility of operations and favorable reimbursement policies.

Zoned Flash Market — Competitive Landscape

Prominent companies in the zoned flash market are shifting towards developing sturdy data storage solutions by dishing out the latest hardware devices incorporated with smart solutions to pull in a broader consumer base. Additionally, they are investing in acquisitions, collaborations, and partnerships to increase their market impressions.

Western Digital’s OpenFlex Solution is selected by the ICM Brain & Spine Institute to restructure treatment options and critical cures. The solution will help doctors capture, share, and analyze patient data from multiple clinical imaging tools through diverse labs.

Leading Key Players:

IBM Corporation
Radian Memory Systems Inc.
Western Digital Corporation
SK Hynix
SANBlaze
Microchip Technology Inc.

Key Segments of Zoned Flash Industry Survey

By Component:

Zoned Flash SSD
SSD Management Software

By Drive Interface:

Serial Advanced Technology Attachment (SATA)
Statistical Analysis Systems (SAS)

By End User:

Zoned Flash Devices for Data Centres
Zoned Flash Devices for Enterprises
- Zoned Flash Devices for Large Enterprises
- Zoned Flash Devices for SMEs
Others

By Region:

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

About Future Market Insights (FMI):

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

Contact Us:

Nandini Singh Sawlani