Market Research Blog – Page 3930 – New Product Development

Hong Kong Outbound Tourism Market Aims for a US$ 1,088.0 Million , Guided by an 8.5% CAGR Vision by 2032 | FMI

The Hong Kong outbound tourism market is estimated to reach US$ 483.0 Million in 2022. As per the report, sales are forecast to increase at a robust 8.5% CAGR from 2022 to 2032. The market is set to reach a valuation of US$ 1,088.0 Million by 2032.

Hong Kong has a great scope in the outbound tourism market. Domestic tourism in the region is very limited and the people of Hong Kong tend to cross regional boundaries for their holidays. It has a great system of transportation that accelerates outbound travel.

Moreover, English is the secondary language used in the country, which acts as an added benefit for travelers while traveling overseas. The residents of Hong Kong possess a special administrative region (SAR) passport, which enables them to travel to more than 160 countries without a visa.

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Additionally, an initiative has been planned to uplift tourism in Southern China, including Hong Kong. This initiative plans to build a Greater Bay Area in the region, which will attract more tourists globally and is expected to boost the economy. This will help to raise the earnings of the residents and increase their spending capacity.

Also, the climatic conditions in Hong Kong are warm and humid, opposite to the climate in other parts of the world. This can act as a push factor to attract more travelers to take international trips.

Key Takeaways from the Hong Kong Outbound Tourism Market Study:

By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly 70% in the Hong Kong outbound tourism market by 2032.
Travelers belonging to the age groups of 36-45 years and 46-55 years are expected to opt for international travel more than the other age groups.
The Honk Kong outbound tourism market is estimated to reach US$ 483.0 Million in 2022.
Along with Paris and Singapore, Hong Kong was named the most expensive city in the world in 2019.
Between 5000 and 6000 people visit Hung Hom each day, which would propel the Hong Kong outbound tourism market by 2032.

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Competitive Landscape: Hong Kong Outbound Tourism Market

Leading players operating in the Hong Kong outbound tourism market are focused on aggressive promotional strategies, advertisements, and new product launches. They are striving to compete with their rivals by investing huge sums in the development of personalized packages catering to specific requirements of tourists.

Some of the leading players in the Hong Kong outbound tourism market

Expedia
Trip Advisor
Any Tours
Rome 2 Rio
Thrillophilia
Thomas Cook
Romania Tour Store
Tour My India
Affordable Tours
Tour Radar
Explore
G Adventures
TUI China
World Expeditions

Hong Kong Outbound Tourism Market Outlook by Category

By Purpose:

Business
Leisure
VFR
Others

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tour Type:

Independent Traveler
Tour Group
Package Traveler

By Age Group:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Global Bone Health Supplement Industry is expected to witness a surge, reaching US$ 38,677.8 Million by 2034, supported by a projected 7.8% CAGR as per FMI

The global bone health supplement industry demand is set to experience significant growth, with estimations pointing to a Compound Annual Growth Rate (CAGR) of 7.8% by 2034. Recent reports suggest a substantial surge from its value of US$ 19,523.9 million in 2024 to a projected US$ 38,677.8 million by 2034. In 2023, the market stood at a value of US$ 18,234.1 million and is on track to exhibit a year-on-year (y-o-y) growth of 6.8% in 2024. This trajectory indicates a robust and consistent expansion in the demand and consumption of bone health supplements globally.

The rise in awareness regarding bone health maintenance and the increasing prevalence of bone-related disorders are key contributors to this market surge. With an aging population and a growing emphasis on proactive healthcare measures, the demand for supplements catering to bone health is anticipated to witness a steady uptick over the forecasted period.

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Factors such as a sedentary lifestyle, inadequate nutrition, and a rising number of musculoskeletal disorders have further propelled the necessity for these supplements, fostering an environment conducive to the rapid growth of the bone health supplement market.

As consumers continue to prioritize preventive healthcare practices and seek solutions to improve bone strength and overall health, the market is responding with innovative products and formulations. This includes a spectrum of supplements enriched with essential nutrients vital for bone health maintenance, catering to diverse consumer needs and preferences.

The projected market expansion not only signifies a growing focus on personal wellness but also presents substantial opportunities for industry players, encouraging research, development, and innovation within the bone health supplement sector.

The bone health supplement market is projected to experience significant growth between 2024 and 2034, fuelled by several key factors:

Aging Population: The global population is aging rapidly, and with age comes an increased risk of bone-related issues like osteoporosis and fractures. This demographic shift creates a larger pool of potential consumers for bone health supplements.
Rising Awareness: There’s growing awareness about the importance of bone health and the potential benefits of supplements in maintaining it. This is driven by media coverage, health campaigns, and increased focus on preventive healthcare.
Calcium Deficiency: Calcium is a crucial mineral for bone health, and deficiencies are quite common. Bone health supplements offer a convenient way to address this deficiency and support bone density.
Vitamin D Importance: Vitamin D also plays a vital role in bone health by aiding calcium absorption. The recognition of its importance has led to increased demand for supplements containing Vitamin D alongside calcium.
Focus on Natural Solutions: Consumers are increasingly seeking natural solutions for health concerns, and bone health supplements often cater to this preference by using plant-based ingredients or herbal extracts.

These factors combined paint a picture of a thriving bone health supplement market in the coming decade. It’s important to remember that this is a complex market with various stakeholders and considerations, and individual growth rates may vary across different regions, product types, and distribution channels.

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Competition Analysis:

Koninklijke DSM N.V.
Herbalife International
Nature’s Bounty Co.
Abbott Laboratories
Bio-Tech Pharmacal Inc.
Seroyal International Inc.
NutriGold Inc.
Glanbia PLC
Bayer AG
Kerry Group PLC
BASF SE
Alticor Inc.
NOW Health Group, Inc.
USANA Health Sciences, Inc.
Nutramax Laboratories, Inc.
P&G
Amway

Bone Health Supplement Market Outlook by Category:

By Ingredients:

Vitamins and Minerals
Amino Acids
Botanical Supplements
Others

By Form:

Tablets
Liquids
Capsules
Powder

By Distribution Channel:

Pharmacies Drug Stores
Health and Beauty Stores
Specialty Stores
Online Sales

By Region:

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

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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.

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Medicated Bath Additive Industry is poised to achieve a value of US$ 56.7 Billion by 2034, with a CAGR of 6.6% | FMI

The global medicated bath additive industry size is on a trajectory of exponential growth, poised to surge at a remarkable rate of 6.6% during the forecast period, as per industry analysis. The market value, expected to hit a staggering US$ 56.7 billion by 2034, reflects an impressive advancement from its projected value of US$ 29.8 billion in 2024.

In 2023, the industry posted a valuation of US$ 28.0 billion, setting the stage for a significant upward trajectory in demand and market expansion. This robust growth trajectory signifies a promising future for the medicated bath additive sector. Anticipated to witness dramatic growth in the upcoming years, the industry’s potential showcases a landscape ripe with opportunities and innovations.

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Growing demand for therapeutic products that can effectively treat various skin-related ailments and provide multiple benefits, such as stress relief, relaxation, and improved skin health, is driving significant growth in the medicated bath Additive market.

Herbal bath soaps are popular in the personal care industry, accounting for a 33.2% share of the market value in 2024. This trend can be attributed to the increasing consumer preference for natural and herbal products readily available as bathing Additive.
Liquid bathing Additive, with a market share of 34.0%, dominate the global market. This trend is expected to continue in the upcoming years due to the extended shelf life of the products and their ability to provide a smooth texture to the skin.
The bathing Additive market is expected to be led by the bacterial infection segment, which is anticipated to hold a market value share of around 38.9% by 2024. Given the daily increase in bacterial infections, bathing Additive are crucial to safeguard the body against such infections.
The female bathing Additive market is expected to develop at a compound annual growth rate of 7.4% and reach a 51.1% market value share by 2024. This results from the large corporations involved in the bathing Additive industry with these items.
As a distribution channel, general store websites dominate the worldwide market for bathing Additive. They are anticipated to persist with a projected CAGR of 6.5% throughout the forecast years, holding a market share of 30.0% in 2024.

For the refinement of skin tone and to tackle skin problems, individuals need consistent care and access to daily-use skincare products. Since the outbreak of COVID-19, people have become increasingly concerned about hygiene. This has led to a significant driving force for the global medicated bath Additive market growth.

Many individuals encounter hormonal imbalance issues due to their luxurious lifestyle. These problems can lead to hair fall, alopecia, and acne on the face. As a result, the market presents a promising opportunity. Hospitals, hotels, and men’s and women’s salons are introducing bathing bars, shower gels, shampoos, conditioners, and other products, which indicate a highly profitable growth potential in the projected period.

“Rising acne, skin-related disease, and hair fall issues due to pollution, hormonal imbalance, chemical contains bathing Additive is set to propel the sales of bathing Additive across the globe,” says an analyst of Future Market Insights.

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Market competition:

The market for medicated bath Additive is highly fragmented, with a wide range of players, varying from regional to established ones. Top players have introduced diverse marketing campaigns to promote the skin-friendly benefits of bath Additive.

The market for medicated bath Additive is growing due to an upsurge in skin-related clinical conditions, female health issues, and pollution rates. Key competitors are introducing a range of new bathing Additive with innovative features to capture customers’ engagement.

A new Valentine’s Day collection from Lush, including shower jelly (including strawberry shower jelly in the shape of a heart) and bath bombs, was released on January 10, 2023.
In July 2021, Wipro Consumer Care and Lighting introduced a broad line of shower gels under all its brands. To meet various consumer needs and provide great bathing experiences, the company introduced body wash under the brands Hygienix, Santoor, Yardley, and Aramusk.

Key Companies in the Medicated Bath Additive Market:

L’Occitane en Provence
Soothing Touch
Shanghai Jahwa United Co., Ltd
Kneipp
Westlab ltd
THE MOHER SOAP CO.
Borghese Inc
PrettyValley
Unilever
Reckitt Benckiser
L’Oreal Paris
Himalaya Wellness Company

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Key Market Segments Covered in Medicated Bath Additive Industry Research:

By Product:

Bath Bombs
Bath Soaps
Shower gel
Shampoo
Conditioner
Accessories

By Form:

Solid
Gels & Jellies
Liquid
Others

By Indication:

Bacterial Infection
Fungal Infection
Parasitic Infection
Others

By Gender:

Male
Female

By Distribution Channel:

Retail Pharmacies
Supermarket/Hypermarket
Online Sales
General Stores
Cosmetic Stores

By Region:

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

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Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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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Nandini Singh Sawlani

Global Ayurvedic Supplement Industry is projected to undergo significant growth, with Future Market Insights targeting a value of US$ 4,708.2 Million by 2034

The global ayurvedic supplement industry growth is poised for substantial expansion, marking an impressive valuation of US$ 1,831.8 million in 2024 and forecasted to exhibit a remarkable Compound Annual Growth Rate (CAGR) of 9.9% over the coming decade. According to recent analysis by industry experts, this flourishing market is anticipated to soar to an estimated valuation of US$ 4,708.2 million by 2034.

The significant surge in valuation reflects a growing global interest in traditional healthcare practices and natural remedies. Ayurveda, with its roots in ancient Indian medicine, has gained prominence as consumers increasingly seek holistic approaches to wellness.

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“The projected growth of the Ayurvedic supplement industry underscores the shift towards natural and holistic healthcare solutions,” said Future Market Insights. “Consumers are increasingly drawn to the therapeutic benefits offered by Ayurvedic supplements, which often prioritize natural ingredients and holistic well-being.”

The projected expansion of this market is attributed to several factors, including rising awareness about the efficacy of Ayurvedic supplements in promoting overall health and wellness. Additionally, a surge in lifestyle-related health concerns and a growing preference for organic and plant-based products are further propelling the demand for Ayurvedic supplements.

Furthermore, the market’s growth is also influenced by innovative product developments and strategic collaborations among key industry players to expand their product portfolios and reach a wider consumer base.

The forecasted trajectory indicates immense potential for businesses operating within the Ayurvedic supplement sector, providing opportunities for innovation, research, and market expansion.

As the industry continues to evolve and captivate global attention, stakeholders, investors, and consumers are keenly observing this upward trend, anticipating a transformative landscape in the wellness and healthcare domain.

Key Takeaways from the Market Study:

Nutritional supplements are the leading product segment and are expected to hold a 9% market share in 2024.
Capsules/tablets segment is set to lead in the form of ayurvedic supplements with a projected market share of 9% in 2024.
By distribution channel, e-commerce is leading in the ayurvedic supplements market, with a forecasted market share of 9% in 2024.
Japan is predicted to be one of the leading countries in the market. For the 2024 to 2034 period, Japan’s CAGR is 9.1%.
India and China are the other Asian countries marked with potential for the market. For the forecast period, the CAGR for China and India is projected to be 8.8% and 8.1%.

“Several businesses have launched products with nature-inspired components because of the market’s apparent high demand for natural ingredients. Additionally, leading market players are focusing on novel product development with an enhanced formulation that is effective due to increasing concerns among people about the side effects of conventional medication.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).

Ayurvedic Supplement Market Outlook:

Data Points	Market Insights
Market Value 2023	US$ 1,708.5 million
Market Value 2024	US$ 1,831.8 million
Market Value 2034	US$ 4,708.2 million
CAGR 2024 to 2034	9.9%

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Market Competition:

There are numerous regional, up-and-coming, and established businesses in the ayurvedic supplement market, which is fragmented. Key players have started product launches and marketing activities to broaden the product line. Some prominent companies in the market.

Recent Developments:

In March 2021, the Ayurveda brand Maharishi Ayurveda rolled out its digital advertisement campaign, featuring a celebrity face in Milind Soman to promote the product Amrit Kalash.
In February 2020, Dabur India Ltd. brought out Dabur Keratex, a hair oil enriched with ayurvedic ingredients to control dandruff and nourish the dry scalp.
In September 2021, NatureCode launched a new range of dry herbs and ayurvedic wellness products.

Key Companies Profiled:

Maharishi Ayurveda India Products Private Limited
Surya Herbal Ltd
Gynoveda Femtech Private Ltd.
Herbal Health Solutions
Dabur India Limited
‎ Emami Limited.
Veloce Herbals Pvt. Ltd.
Riaan Wellness Pvt. Ltd.
Global Healthfit Retail India LLP
‎ Pharma Science
The Himalaya Drug Co.
Tactus Nutrascience
‎ Relevium
‎Organic Dehydrated Foods Pvt. Ltd.
BACFO PHARMACEUTICALS (India) Ltd.
Herbolab India Pvt Ltd
Green Cross Health Innovation
ManSure
Banyan Botanicals

Key Market Segments Covered in Ayurvedic Supplements Industry Research:

By Product:

Dietary Supplements
Nutritional Supplements
Men and Women Health Supplements
Ayurvedic Skin Supplements
Others

By Form:

Capsules/Tablets
Powder
Syrups
Oil and Ointment
Other

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Mail Order Pharmacies
E-commerce

By Region:

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

Author By:

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain:

Dietary Supplements Market Outlook: The global dietary supplements market size is likely to exceed US$ 163.66 billion by 2033. The dietary supplements market players can anticipate a compelling CAGR of 9.1% through 2033. This growth of the dietary supplements industry globally comes on the heels of the current market valuation of US$ 68.20 billion in 2023.

Probiotic Supplements Market Growth: The probiotic supplements market is estimated to be valued at US$ 7,078.1 million in 2023. It is anticipated to reach US$ 23,977.9 million in 2033. The market is expected to grow at an impressive CAGR of 13.0% from 2023 to 2033.

Pain Management Devices Market Size: The global demand for pain management devices is expected to grow at a healthy CAGR of 9% between 2022 and 2032, totaling a valuation of over US$ 5.68 Billion by the end of 2032.

Diabetes Care Devices Market Share: The global diabetes care devices market size is projected to be valued at US$ 9.7 Billion in 2022 and is anticipated to reach US$ 17.87 Billion by 2032, with a rapid CAGR of 6.3% from 2022 to 2032.

Lung Cancer Surgery Market Demand: The global Lung Cancer Surgery Market was valued at US$ 1.23 Billion in 2021 and is expected to reach US$ 1.98 Billion by 2029, finds Future Market Insights (FMI) in a recent market survey.

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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Nandini Singh Sawlani

Global At-Home Food Sensitivity Tests Industry is expected to grow at a CAGR of 8.5%, reaching US$ 547 million by 2034, as per FMI

As per our latest industry analysis, the valuation for the global at-home food sensitivity tests industry demand is projected US$ 241.4 million in 2024. The overall market is projected to exhibit a CAGR of 8.5% between 2024 and 2034, with an estimated valuation of US$ 547 million by 2034.

Changing dietary patterns has increased the intake of the ingredients and foods in the diet, which produces reactions in people suffering from food sensitivity. The most common types of food causing food sensitivity are those containing lactose, histamine, and gluten. Hence, the possible cause needs to be determined to avoid future complications, requiring a test that could find the underlying reason for the condition, propelling the market for at-home food sensitivity tests.

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The global allergy diagnostics business, mainly its food intolerance testing sub-segment, has grown impressively due to the high healthcare spending and rising demand for high-quality medical care and diagnostic services. According to the World Bank, the total healthcare expenditure in 2019 was 9.83% of the GDP.

Furthermore, increasing research and development in producing new and improved methods of at-home food sensitivity tests that would produce more accurate results are a few initiatives the market players took to increase the sales of at-home food sensitivity test kits.

“Increased awareness regarding allergy management, increased consumption of foods containing histamine, lactose, and gluten, as well as the cases of celiac disease and inflammatory bowel disease, is set to propel the sales of at-home food sensitivity tests across the globe,” says an analyst.

Key Takeaways from the Market Study Report:

Blood sample tests are the leading segment as a product and hold around 33.4% market value share in 2023.
Due to the rising demand for blood sample tests, the invasive type test segment is expected to take the lead with a 63.4% market share in 2023.
Gastrointestinal diseases are dominating among indication segments and could continue with a 9.6% CAGR from 2024 to 2034.
Hospital pharmacies make the leading distribution channel and are anticipated to expand during the forecast years with a CAGR of 7.3%.
North America is the leading region, with almost one-third market share in 2023.
Owing to the high prevalence of food insensitivity cases, India and China are the two remarkably growing markets with 7.3% and 6.2% CAGRs through 2034, respectively.

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Market Competition:

Market players are incorporating various strategies like new product launches, expansions, and collaborations. Key players have initiated promotional activities to introduce the design and engineering of novel at-home food sensitivity tests.

In 2022, FoodMarble launched the first pocket-size personal digestive tracker, FoodMarble AIRE 2, with hydrogen and methane breath analysis technology to determine the dietary items that cause food intolerance in people.

On April 20, 2022, LabCorp introduced a convenient home diagnostic test collection service in collaboration with Getlabs to bring together Getlabs’ phlebotomy service with LabCorp’s diagnostic testing to conveniently test customers in the comfort of their homes.

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the at-home food sensitivity tests market in its latest study, presenting a historical demand assessment of 2019 to 2023 and projections for 2024 to 2034. The global at-home food sensitivity tests market is segmented in detail to cover every market aspect and present a complete market intelligence approach to the reader.

The research study is based on the product– (blood sample test, tissue sample test, swap test, fecal test, and breath test), by test type (invasive and non-invasive), by indication (gastrointestinal diseases, joint pain, skin/allergic disease and others), by distribution channel (hospital pharmacies, retail pharmacies, and e-commerce), across seven key regions of the world.

Key Market Players:

Vitagene
myLAB Box
FoodMarble Digestive Health Ltd.
Laboratory Corporation of America Holdings
cerascreen LLC.
Everlywell, Inc.
YorkTest
TesMyAllergy (Global Science Technology Limited)
5Strands Affordable Testing
UCARI
Pinnertest Food Intolerance Test

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Key Market Segments Covered in At-home Food Sensitivity Tests Industry Research:

By Product Type:

Blood sample test
Tissue sample test
Swap test
Fecal test
Breath test

By Test Type:

Invasive
Non-invasive

By Indication:

Gastrointestinal diseases
Joint pain
Skin/allergic disease
Others

By Distribution channel:

Hospital Pharmacies
Retail Pharmacies
E-commerce

By Region:

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

Author By:

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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

Vegan Footwear Market Is Anticipated to Expand at a Healthy 7.3% CAGR and Reach US$ 60,992.6 Million in Value by 2033 | FMI

The global vegan footwear market According to FMI, the vegan footwear market is projected to grow from US$ 30,072.1 million in 2023 to US$ 60,992.6 million by 2033, expanding at a CAGR of 7.3% from 2023 to 2033.

Rising adoption of vegan trends and the increasing vegan population is expected to push the market to an estimated US$ 14.7 Bn in 2022. Government regulations regarding leather products along with elevated environmental concern among the consumers will supplement the vegan footwear market growth over the forecast period.

In the past few years, consumers have been displaying an inclination for sustainable goods. Concern for the environment coupled with a drive for sustainability- by consumers as well as by manufacturers- will propel the vegan footwear market.

The global efforts to reduce carbon footprints and safeguard ecosystems are contributing factors. Initiatives and steps taken by market giants for a sustainable manufacturing process will further propel the vegan footwear market. Besides, rapidly changing consumer behavior also bode well for the market.

Driven by a wide range of variety and the retail space the vegan footwear market is expected to show impressive market growth over the period of assessment. The growing e-commerce platforms are accountable for the swift expansion of the vegan footwear market. An increasing number of specialty stores, too, aid the sales of vegan footwear.

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However, due to convenience and discounts, online sales channels are more popular with consumers. All these factors, thus, promote the sales of vegan footwear for the forecast period.

“Benefits like durability, comfort, and eco-friendliness of vegan footwear will bolster the sales of vegan footwear over the forecast period,” says an FMI analyst.

Key Takeaways:

Rising e-commerce and sustainability drives to boost market prospects.
By 2030, the vegan footwear market in Germany will reach an estimated US$ 26.14 Bn.
The vegan footwear market in the U.S. is expected to undergo impressive growth over the assessment period.
By product type, shoe segment will experience a rise in sales over the forecast period.
Microfiber segment is anticipated to be in high demand for the projection period.

Competitive Landscape

LVMH, Nike, Adidas, Puma, Under Armour, Skechers, Tommy Hilfiger, Asics, VF Corp, Columbia Sportswear Co., and others are some of the major players in the vegan footwear market that are profiled in the full version of the report.

Major market players are concentrating on the expansion and development of their businesses. These organizations are keen on introducing new products to the market to aid their business expansion.

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More Insights into the Vegan Footwear Market Report

In its latest report, FMI offers an unbiased analysis of the global vegan footwear market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2030.

To understand the global market potential, growth, and scope, the market is segmented based on product type (shoes, sneakers, boots, sandals, heels, loafers, others), material type (microfiber, polyurethane (PU), recycled plastics, recycled polyester, cotton, natural rubber, hemp, others), pricing (mass/ economic, premium), end-user (men, women, kids), sales channel (indirect (hypermarket/ supermarkets, specialty stores, multi-brand stores, independent stores, convenience stores, online retailers, other sales channels), direct) and region.

According to the latest FMI reports, based on region, Germany is predicted to continue its market domination till 2030. The vegan footwear market in Germany will reach a valuation of US$ 26.14 Bn. The rising number of vegans in the country has led to a spike in the demand for vegan products. In addition, vegan footwear is eco-friendly and helps in environmental protection. Thus, the regional market is propelled toward growth.

In the United States, the vegan footwear market is expected to register considerable growth over the assessment period. This growth is attributed to the expanding vegan population in the region. Swift changes in consumer trends will also positively influence the market in this region.

The vegan footwear market in India will witness an impressive rise in its demand. With the increasing demand for plant-based products in South Asia, India is expected to contribute to this growth with its massive vegetarian population. Moreover, heightened demand for handcraft and shoes also supplement the regional market growth.

Based on segmentation, by product type, the shoe category is expected to lead the market due to the high demand for comfortable and trendy footwear. In terms of material, the microfiber segment will display significant growth due to its durability.

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Market for Sun Care Products is Anticipated to Expand at an Average Growth Rate of 6.4% During the Forecast Period 2033 | FMI

The sun care products market is anticipated to reach a valuation of US$ 13.6 billion in 2023 and is expected to be worth US$ 25.3 billion by 2033. The market is likely to register a CAGR of 6.4% during the forecast period.

The surge in skin-related disorders, including acne, eczema, tanning, rashes, and infection, is expected to drive market growth. Moreover, the market expansion is fueled by rising urbanization, shifting lifestyles, disposable income, and innovation. In addition, the rising consumer awareness of skin diseases, exposure to UV rays, and dullness of skin are increasing the demand for organic sun care products. These products aid in toxin clearance and skincare maintenance.

Customers are molding towards SPF & UV protection sun care products to prevent aging and provide deep moisturization. Manufacturers develop solutions using natural components to treat damaged skin, focusing on consumer needs. In addition, these producers expand market prospects by offering plant-based components free of harmful chemicals.

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Why do Consumers Prefer Sun Care Products in Tubes Packaging?

Tubes packaging is expected to dominate the cosmetic market by securing a 42.8% share by 2033. The manufacturers provide cosmetic products such as shampoo, face wash, cream, lotion, and toothpaste in tube packaging.

Tube packaging is dependable and practical because it stores the products and is simple to use. Many sorts, forms, and shapes of tubes are created by manufacturers along with product descriptions. High-quality tubes were designed by the makers for product packing to extend shelf life. Moreover, leading cosmetic and new start-up companies are developing innovative paper tube packaging to facilitate recycling and lower carbon emissions.

Key Takeaways:

The sun care products market is likely to reach a valuation of US$ 25.3 billion by 2033.
The sun care products market is expected to record a CAGR of 6.4% during the forecast period.
The market in the United States is anticipated to capture 81.1% of the share through 2033.
With a CAGR of 57.8%, the Australia sun care products market is expected to increase significantly during the forecast period.
The market in India is expected to secure a share of 27.3% over the forecast period.
The market in China is projected to reach a share of 42.6% by 2033.

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Who is Winning?

The prominent players play a vital role in the global market by capturing maximum output. These prominent players focus on consumers’ requirements and launch innovative products to meet their needs. For example, they are developing sun care products without side effects and premium packaging to enhance product life.

These players invest in research and development activities to expand the market size. In addition, the key players upsurge the market through marketing strategies, including collaborations, partnerships, product launches, mergers, and acquisitions.

Other Players in the Market are:

Estee Lauder Companies, Inc.
Coty, Inc.
Revlon, Inc.
Clarins Group
Clinique Laboratories, Inc.
Natura & Co.
Amway Corporation
Shiseido Company, Limited
AmorePacific Corporation
Revlon, Inc.
Kiehl’s LLC
Others (On Request)
Beiersdorf AG
The Procter & Gamble Company
Unilever PLC
L’Oreal Group

Recent Developments in the Market are:

In September 2020, a Korean Brand, KOKOSTAR, launched its new product Sunscreen Capsule Mask by adding sunscreen oil and sunblock serum. The company launched this vegan mask with biodegradable ingredients.
In May 2022, L’Oréal launched its new UV filter technology-based product UVMune 400, to protect skin from harmful UVA radiation.
In February 2022, Beiersdorf established its new center in the United States for therapeutic OTC and sun care products.

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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Generic Oncology Drug Industry in Europe and MENA is poised for continual growth, with projections indicating a potential rise to US$ 8.2 Billion by 2033

The generic oncology drug industry in Europe and the MENA demand region witnessed substantial revenue totaling US$ 6.5 billion in 2022, and it is projected to climb to US$ 6.7 billion by 2023. A comprehensive analysis forecasts an impressive 2.1% Compound Annual Growth Rate (CAGR) over the assessment period, indicating a surge in sales that is anticipated to propel the market to a significant US$ 8.2 billion by 2033.

Key findings revealed that the small molecule segment dominated with a robust 73.1% share in terms of value in 2022. Forecasts suggest a continued upward trajectory with a CAGR of 1.9% throughout the forecast period. This growth can be attributed to the escalating demand for small-molecule cancer drugs owing to their multifaceted benefits.

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“We are witnessing a notable uptick in the generic oncology drug market, particularly in Europe and the MENA region. This growth is indicative of the increasing reliance on small molecule-based cancer treatments, reflecting their effectiveness and versatility,” stated Future Market Insights.

The anticipated rise in revenue underscores the growing importance of generic oncology drugs in addressing the healthcare needs of patients in these regions. Factors such as the expanding prevalence of cancer and the efficacy of small molecule drugs are expected to fuel this market’s growth trajectory.

The comprehensive analysis also highlights the significance of strategic collaborations, innovative research, and advancements in drug development as pivotal drivers in propelling the market forward.

As the market continues to evolve, Future Market Insights remains committed to delivering high-quality generic oncology drugs, contributing to improved patient outcomes and advancing healthcare in Europe and the MENA region.

Europe and MENA: Generic Oncology Drugs Offer Hope and Affordability for Cancer Patients:

A new wave of hope is sweeping across Europe and MENA for millions of cancer patients seeking affordable and effective treatment options. The rise of generic oncology drugs is offering a much-needed alternative to expensive branded medications, paving the way for more accessible and comprehensive care.

Generic oncology drugs, identical in therapeutic effect to their branded counterparts but significantly lower in cost, are gaining significant traction across the region. This trend is driven by several factors, including:

Cost-effectiveness: Generic drugs offer comparable efficacy at a fraction of the price, typically around 80% less than branded medications. This translates to significantly reduced financial burden for patients and healthcare systems, enabling wider access to essential cancer treatment.
High efficiency: Generic drugs undergo rigorous quality and safety testing to ensure they meet the same stringent standards as branded medicines. Patients can be confident they are receiving effective and reliable treatment options.
Increased adoption: Healthcare professionals and patients are increasingly recognizing the value of generic oncology drugs. This growing awareness is driving demand and boosting the overall market for these affordable alternatives.

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The impact of generic oncology drugs extends beyond just individual patients. By reducing treatment costs, these medications contribute to:

Improved access to care: More patients can now afford the treatment they need, leading to earlier diagnosis, better outcomes, and increased quality of life.
Enhanced healthcare sustainability: Reduced costs associated with cancer treatment alleviate pressure on healthcare budgets, allowing resources to be allocated to other critical areas.
Innovation and development: The success of generic drugs encourages further research and development in the oncology field, leading to the discovery and introduction of new and even more effective treatment options.

The emergence of generic injectable drugs and off-label medications has further fueled the growth of accessible cancer care. By offering alternative treatment pathways, these options are playing a crucial role in making cancer treatment more manageable and affordable for a wider population.

As the demand for generic oncology drugs continues to rise, the future of cancer treatment in Europe and MENA looks brighter than ever. These cost-effective and high-quality medications offer a vital lifeline for patients, paving the way for a future where hope and affordability are no longer obstacles to accessing effective cancer care.

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Competitive Landscape:

Many producers of generic oncology drugs are vying for supremacy in the increasingly competitive generic oncology drug market in Europe and the Middle East and North Africa (MENA). These stakeholders are actively engaged in strategic endeavours as part of their pursuit of a competitive advantage. These programmes include the introduction of new products, obtaining regulatory approvals, working with medical facilities, and creating combination treatment plans.

Recent Developments in the Europe and MENA Generic Oncology Drug Business:

In March 2023, Regeneron Pharmaceuticals, Inc. reported that the European Commission (EC) granted approval for the use of Libtayo (cemiplimab) in combination with platinum-based chemotherapy.
In September 2022, the Committee for Medicinal Products for Human Use (CHMP) and the European Medicines Agency (EMA) jointly issued a favorable recommendation for the approval of marketing authorization for Sorafenib Accord. This medication is specifically developed for the treatment of hepatocellular and renal cell carcinoma.

Key Companies Profiled:

Cipla
Eli Lilly & Co.
GlaxoSmithKline Plc.
Sanofi S.A.
Teva Pharmaceutical Industries Ltd.
Sun Pharmaceutical Industries Ltd.
Lupin Ltd.
Hikma Pharmaceuticals PLC
Viatris Inc. (Mylan N.V)
Johnson & Johnson
Takeda Pharmaceutical Company Limited
AstraZeneca
Bristol Myers Squibb Co.
F.Hoffmann-La Roche Ltd.
Bayer AG
Astellas Pharma
Accord Healthcare
Actero Pharma
HEC Pharm
Aqvida GmbH
MEDICHEM S.A.
Pharco Corporation
Krka
Gedeon Richte

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Europe and MENA Generic Oncology Drug Industry Analysis by Category:

By Molecule:

Large Molecule
Small Molecule

By Route of Administration:

Oral
- Tablet
- Capsule
Parenteral

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Managed Care Institutions

By Region:

Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- BENELUX
- Nordics
- Poland
- Hungary
- Romania
- Czech Republic
- Rest of Europe
Middle East and North Africa
- Saudi Arabia
- Egypt
- Algeria
- United Arab Emirates
- Kuwait
- Jordan
- Türkiye
- Iran
- Morocco
- Qatar
- Oman
- Bahrain
- Israel
- Sudan
- Libya
- Rest of MENA

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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Nandini Singh Sawlani

Cultural Tourism Market on a Global Scale Advancing to US$ 22,772.0 Million with a 14.4% CAGR by 2033 | FMI

As per Future Market Insights, the global cultural tourism market is set to reach US$ 5,931.2 million in 2023. Over the next ten years, sales in the market will rise at 14.4% CAGR. This will take the global cultural tourism market size to US$ 22,772.0 million by 2033.

Growing interest towards exploring different cultures is driving the global market forward. Besides this, increasing affordability due to rising disposable income will boost the market through 2033.

Cultural tourism is emerging as one of the most lucrative tourism markets globally. Cultural tourism and interest in culture among travelers is on the rise. This type of tourism allows tourists to learn and cherish different cultures of the world. Increasing interest of visitors in cultural experiences will elevate demand in the market.

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Growing awareness about various cultural and heritage sites through social media platforms is likely to boost sales. Besides this, integration of advanced technologies and availability of attractive packages will create growth prospects.

Visitors are now offered audio tours to various cultural heritage places, podcasts for cultural sites, and many other experiences. This is bringing diversity to cultural tourism sector.

For instance, Kerala (India) Tourism launched Street Project to enhance experiential tourism market. Its agenda is to take tourism deep into the state’s urban and rural development.

In the first phase, the project would be implemented in the city of Kadalundi which is located in Kozhikode. Then it will be introduced in other cities of the states. With such experiential development toward cultural tourism infrastructure, countries such as India, Germany, France, and Italy, are experiencing a huge number of travelers’ spike from different parts of the world.

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Key Takeaways from Cultural Tourism Market:

Cultural tourism market is forecast to reach US$ 5,931.2 million in 2023.
Global demand for cultural tourism is likely to rise at 14.4 % between 2023 and 2033.
By age group, 16 to 25 category will generate the most revenue in the market.
By tourism type, edutainment segment is likely to hold a prominent share by 2033.
Online booking channels segment will witness most cultural tourism bookings.
Thailand cultural tourism market is set to exhibit a robust CAGR over the next ten years.
Cultural tourism demand across Italy is forecast to surge at a healthy pace through 2033.

Who is Winning?

Leading players in cultural tourism market are Intrepid, Explore, Exodus Travel, G Adventures, On The Go Tours, and many more. These companies are introducing new attractive tour packages to woo more and more customers.

Key Companies Profiled

Intrepid
Explore
Exodus Travel
G Adventures
On The Go Tours
Others

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of cultural tourism market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study divulges compelling insights on cultural tourism by direct suppliers (airlines, hotel campaigns, car rental, trains, tour operators), indirect suppliers (online travel agency, traditional travel agencies, travel management companies, corporate buyers, aggregators), and number of bookings (by age, by demographic, by nationality, by booking channel, by visitors type, by tour type, by tourism type), across several countries.

Global Cultural Tourism Market by Category

By Direct Suppliers:

Airlines
Hotel Companies
Car Rental
Train
Tour Operators
Government Bodies

By Indirect Suppliers:

OTA (Online Travel Agency)
Traditional Travel Agencies
TMC’s (Travel Management Companies)
Corporate Buyers
Aggregators

By Number of Bookings:

By Age:

Under 15
16 to 25
26 to 35
36 to 45
46 to 55
Over 55

By Demographic:

Male
Female

By Nationality:

Domestic
International

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tour Type:

Individual Travel
Professional Groups
Group Travels

By Tourism Type:

Edutainment Tourism
Cultural heritage Tourism
Educational Tourism
Marine Life Exploration Tourism
Eco-conscious Cultural tourism
Others

By Visitors Type:

Purposeful
Incidental
Serendipitous
Casual
Sightseeing

By Country:

United States
Canada
Brazil
Mexico
Germany
Other

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Sales of Interdental Cleaning Products are Anticipated to Increase at a Steady 4.7% CAGR by 2033 | FMI

The market for interdental cleaning products is expected to be worth US$2,886.3 million in 2023. By 2033, the market is expected to grow at a CAGR of 4.7%, hitting a valuation of US$ 4,568.8 million. Since individuals have become more aware of the importance of oral hygiene, the interdental cleaning products market has grown significantly.

The demand for interdental cleaning solutions has increased as dental caries and periodontal illnesses have become common. The industry has also grown because of the accessibility of a variety of interdental cleaning tools, including picks, floss, and brushes.

The high cost of interdental cleaning solutions is a main barrier to industry expansion. The adoption of interdental cleaning solutions in poor nations may be hampered by the availability of inexpensive alternatives like conventional dental floss. Furthermore, the lack of interdental cleaning product awareness in these populations may further restrain market expansion.

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For producers, the rising demand for natural and organic interdental cleaning solutions represents a sizable potential. The possible negative consequences of oral hygiene products with chemical bases are becoming widely known by consumers, which has increased the demand for natural and organic goods.

Environment-friendly packaging and the use of sustainable materials provide companies with another chance to stand out from the competition and attract customers who care about the environment.

The development of intelligent interdental cleaning products is the recent trend in the interdental cleaning products market. These tools detect and monitor oral hygiene using technologies like sensors and Bluetooth.

Technology integration in interdental cleaning products can offer customers individualized advice for the best oral hygiene in real-time. The market for interdental cleaning solutions is anticipated to rise because of this trend, particularly among tech-savvy customers.

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Key Takeaways from the Interdental Cleaning Products Market:

The interdental cleaning products market in the United States is expected to account for 20.30% of the overall market share in 2023.
In 2023, Europe’s interdental cleaning products market is anticipated to capture 23.50% of the overall market share.
In 2023, the East Asian interdental cleaning products market is projected to account for 19.1% of the overall market share.
The dental floss segment dominated the industry with a share of 28.40% in 2022.
In terms of age group, the 41 to 65 years age group held around 36.20% in 2022.
Sales in the mass/economy sector will likely increase steadily in the forecast period.

How Key Players Are Revolutionizing the Industry Landscape?

The interdental cleaning products industry is very competitive, with several respected manufacturers vying for market dominance. Colgate-Palmolive Company, Procter & Gamble Co., DenTek Oral Care, Inc., Johnson & Johnson Services, Inc., and Sunstar Suisse S.A. are some of the market’s prominent participants.

These companies have a substantial market share and offer a diverse variety of interdental cleaning products, including toothbrushes, floss, picks, and water flossers. They also spend a lot of money on marketing and advertising in order to sell their products and establish brand awareness.

To remain competitive, these businesses stress innovation, generating new and improved goods to satisfy shifting client demands. They cooperate with retail chains and online platforms to grow their distribution networks in order to boost the availability and accessibility of their products.

The market also offers these enterprises obstacles, such as increased competition from regional and local competitors offering low-cost items, as well as shifting customer tastes toward natural and organic products.

Key Developments in the Industry:

In January 2021, Colgate-Palmolive launched its new product line, Colgate Keep, which includes a range of interdental cleaning products such as floss and interdental brush handles.
In December 2020, Sunstar Suisse S.A. launched its GUM ActiVital Sonic toothbrush, which is designed to improve interdental cleaning.
In October 2020, Trisa AG acquired the French interdental brush manufacturer, Pierre Rolland SAS, to expand its product portfolio in the interdental cleaning products market.
In June 2020, Jordan AS launched its new product line, Jordan Clean Between, which includes interdental brushes and floss.

Key Segments

By Product Type:

Interdental Brushes
Toothpicks
Dental Tapes
Dental Floss

By Age Group:

0 to 6 years
7 to 19 years
20 to 40 years
41 to 65 years
Above 65 years

By Price Range:

Mass/Economy
Premium

By Sales Channel:

Wholesalers/Distributors
Online Retailers
Hypermarkets/Supermarkets
Pharmacies/Drug Stores
Specialty Stores
Convenience Stores

By Region:

North America
Latin America
Eastern Europe
Western Europe
Asia Pacific, excluding China and Japan
Japan
China
Middle East and Africa

About Future Market Insights (FMI)

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