Global Coil-Assisted Flow Diverters Market Projected to Reach USD 640.42 Million by 2033 with a rapidly rising CAGR of 7.7%

The global coil-assisted flow diverters market is poised for significant expansion, projected to reach a value of USD 640.42 million by 2033, with a remarkable compound annual growth rate (CAGR) of 7.7% from 2023 to 2033. In 2022, the market is estimated to be valued at USD 283.2 million, marking a substantial growth trajectory over the next decade.

Key factors driving this growth include the escalating incidence of brain aneurysms and associated risk factors, alongside a burgeoning preference for minimally invasive treatment options. Public awareness campaigns about available treatments and governmental initiatives aimed at reducing intracranial aneurysm occurrences further bolster market expansion.

The approval of several devices by the FDA for treating cerebral aneurysms has notably propelled the adoption of coil-assisted flow diverters since 2021. This innovation is anticipated to eclipse the market dominance previously held by embolic coils, once considered the gold standard in cerebral aneurysm treatment.

“The coil-assisted flow diverters market is witnessing robust growth driven by technological advancements and increasing patient preference for minimally invasive therapies,” commented FMI. “As the market continues to evolve, we anticipate continued momentum in innovation and treatment efficacy.”

Key Takeaways from the Coil Assisted Flow Diverters (CAFD) market are as follows:

  • The market for Coil Assisted Flow Diverters has been experiencing significant growth due to increasing cases of intracranial aneurysms and the need for effective treatment options. CAFD devices are being increasingly adopted as a minimally invasive treatment option, driving market demand.
  • Coil Assisted Flow Diverters offer several advantages over traditional treatment methods for intracranial aneurysms. They provide better aneurysm occlusion rates, reduce the risk of recurrence, and have a lower risk of complications compared to other treatment options. These factors contribute to their rising popularity in the market.
  • The market is witnessing continuous technological advancements in Coil Assisted Flow Diverters, leading to improved device designs and enhanced treatment outcomes. Manufacturers are focusing on developing devices with better navigability, increased flexibility, and improved flow diversion capabilities.
  • The increasing prevalence of intracranial aneurysms globally is a significant driver for the Coil Assisted Flow Diverters market. Factors such as aging population, lifestyle changes, and improved diagnostic techniques contribute to the higher detection rate of aneurysms, thereby increasing the demand for effective treatment options like CAFD.
  • Governments and healthcare organizations in several countries have recognized the clinical benefits of Coil Assisted Flow Diverters and have implemented favorable reimbursement policies. This has led to increased accessibility and affordability of CAFD devices, further boosting market growth.

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Coil Assisted Flow Diverters Market: Drivers and Restraints:

Drivers:

  • Growing prevalence of intracranial aneurysms: The incidence of intracranial aneurysms has been increasing globally, primarily due to factors such as aging populations, lifestyle changes, and improved diagnostic capabilities. This rising prevalence creates a significant demand for effective treatment options like CAFDs.
  • Minimally invasive nature: Coil Assisted Flow Diverters offer a less invasive alternative to traditional surgical treatments for intracranial aneurysms. They can be placed using endovascular techniques, reducing the need for open surgery and associated risks, such as infection and longer recovery times. This minimally invasive nature attracts both patients and healthcare providers.

Restraints:

  • High cost: The cost of CAFDs can be relatively high, including the cost of the device itself and the associated procedure. This can limit their adoption, especially in regions with limited healthcare budgets or where reimbursement policies may not adequately cover the expenses.
  • Lack of awareness and expertise: CAFDs are relatively new in the market, and their adoption may be hindered by a lack of awareness and expertise among healthcare professionals. Training and education are crucial to ensure proper utilization of CAFDs and to increase their acceptance.

Coil Assisted Flow Diverters Market: Key Players

  • Medtronic
  • DePuy Synthes
  • Stryker
  • MicroPort
  • OBEX Medical
  • Abbott
  • Cardiatis
  • ADMEDES
  • Penumbra Inc. and Balt.

Coil Assisted Flow Diverters Market: Segmentation

Applications:

  • Wide-neck bifurcation aneurysms
  • Bifurcation aneurysms

Distribution Channels:

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centres

Regional analysis includes:

  • North America (USA. Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany Italy France, United Kingdom, Spain)
  • Eastern Europe (Poland Russia)
  • Asia-Pacific excluding Japan (China India ASEAN Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries South Africa Northern Africa)

About Future Market Insights (FMI)

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

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Global Wellness Services Market Set for Significant Growth Driven by Corporate Wellness Initiatives and Rising Health Awareness

The global wellness services market is set to expand at a robust compound annual growth rate (CAGR) of 5.5%, projected to grow from a value of USD 4,937.49 billion in 2022 to USD 8,433.95 billion by 2032. This growth is primarily driven by escalating healthcare costs, heightened awareness of health among employers, and the increasing prevalence of chronic diseases. Moreover, the growing emphasis on corporate wellness programs and the rising demand for personalized health services are key factors pushing the market forward.

Key Drivers of Market Growth

The wellness services market is witnessing an unprecedented boom, especially in the corporate sector. Companies are increasingly investing in wellness initiatives to promote a healthy and productive workforce. Wellness enthusiasts—high-income individuals who actively follow wellness trends and are engaged with new product launches—are driving much of the demand in the sector. Meanwhile, price-conscious shoppers are also contributing to the growth by carefully considering the value and benefits of wellness products and services.

The rising focus on holistic wellness approaches, including mental, physical, and emotional health, is another key trend gaining traction. This approach is particularly significant in light of the growing global burden of chronic conditions, including cancer. According to the American Cancer Society, the global cancer death toll is expected to reach 16.3 million by 2040, underscoring the need for proactive wellness initiatives in both personal and corporate settings.

Challenges and Opportunities

Despite its promising growth, the wellness services market faces challenges, such as the shortage of skilled personnel and the use of substandard products by some service providers seeking to reduce costs. Additionally, regional variations in wellness service offerings may lead to non-standardized experiences for consumers. However, these challenges present opportunities for market players to innovate and differentiate their offerings.

Recent Trends and Market Statistics

  • In 2020, the wellness economy contributed 5.1% to global economic output.
  • The wellness real estate market grew at a rapid pace, reaching US$ 275 billion in 2020, despite the pandemic.
  • The mental wellness market saw an increase of 7.2%, reaching US$ 131 billion in 2020.
  • Workplace wellness services faced a slight decline, from US$ 52 billion in 2019 to US$ 49 billion in 2020, due to the COVID-19 pandemic and subsequent changes in workplace dynamics.

The report covers an exhaustive analysis on

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition and Companies Involved
  • Technology
  • Value Chain

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Regional analysis includes

  • North America
  • Latin America
  • Asia-Pacific
  • Japan
  • Western Europe
  • Eastern Europe
  • Middle East & Africa

About Future Market Insights (FMI)

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

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Global Mitochondrial-Based Therapeutics Market Poised for Significant Growth to reach USD 854.2 million by 2033 with a rapidly rising CAGR of 7.8%

The global mitochondrial-based therapeutics market is set to witness robust growth, projected to reach USD 854.2 million by 2033, expanding at a rapid CAGR of 7.8% from 2023 onwards. This estimation, initially valued at USD 403.06 million in 2023, underscores a promising trajectory driven by increasing incidences of mitochondrial diseases and advancements in therapeutic interventions.

Mitochondrial diseases, characterized by inheritable or spontaneous genetic mutations in mitochondrial DNA, affect multiple organ systems including the heart, kidneys, liver, and nervous system. These conditions necessitate specialized treatments that target mitochondrial function and alleviate associated symptoms.

“The market for mitochondrial-based medicines is poised for substantial growth as advancements in genetic testing and therapeutic options expand,” stated FMI. “We anticipate significant developments in mitochondrial replacement therapies and the discovery of biomarkers crucial for early diagnosis and treatment monitoring.”

Key factors driving market growth include the rising prevalence of mitochondrial myopathies, supported by ongoing clinical trials and increased research and development investments. Pharmaceutical innovations like idebenone and L-carnitine are enhancing mitochondrial function, offering new hope for patients worldwide.

Regionally, North America is anticipated to lead the market share, driven by advanced medical infrastructure and heightened awareness of mitochondrial diseases. Meanwhile, Asia Pacific shows promising growth potential, bolstered by expanding healthcare access and rising investments in genetic diagnostics.

As the market expands, stakeholders are focusing on developing novel therapies and enhancing diagnostic capabilities. Initiatives to integrate high-throughput gene sequencing technologies and biomarker discovery are expected to further accelerate market growth.

Key Takeaways: Mitochondrial-Based Therapeutics Market

  • The global market for mitochondrial-based therapeutics is expected to reach USD 854.2 million by 2033, growing at a fast pace of 7.8% CAGR.
  • North America will lead the market due to high approval rates for new drugs and a large population with mitochondrial dysfunction.
  • Europe is a strong contender with increasing investments in R&D for these therapies.
  • Asia-Pacific shows the highest growth potential due to a large patient population.
  • Limited healthcare spending restricts market growth in the Middle East and Africa.

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Some key players contributing in mitochondrial-based therapeutics market are:

  • Pfizer Inc.
  • Norvartis AG
  • Takeda Pharmaceuticals
  • Amgen Inc.
  • NeuroVive Pharmaceutical AB
  • Entogene AG
  • Stealth Biotherapeutics
  • Ixchel Pharma
  • Reata Pharmaceuticals
  • Khondrion BV
  • Alkeus Pharmaceuticals
  • Intercept Pharmaceutics

Mitochondrial-based Therapeutics Market: Segmentation

The global mitochondrial-based therapeutics market is classified based on drug type, indication, route of administration, distribution channel and region.

Drug Type:

  • Anti-inflammatory Biologics
  • Non-Steroidal Anti-inflammatory Drugs (NSAIDs)
  • Corticosteroids

Indication:

  • Mitochondrial Myopathy
  • Leber’s heredity Optic Neuropathy
  • Leigh Syndrome
  • Mitochondrial DNA Depletion Syndrome
  • Mitochondrial Encephalomyopathy
  • Lactic Acidosis
  • Myoclonic Epilepsy with ragged red fibres

Route of Administration:

  • Oral
  • Intravenous

Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Drug stores
  • Online Pharmacies

Regional Analysis:

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

About Future Market Insights (FMI)

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

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Global Home Blood Testing Devices Market is anticipated to hit USD 45.6 Billion by 2033

According to the latest data, the global home blood testing devices market is currently valued at an impressive USD 14.76 billion. These estimations project a continual upward trajectory, with an anticipated revenue of USD 16.35 billion by the end of 2023. Moreover, the market is expected to reach a staggering USD 45.6 billion by 2033, demonstrating a robust Compound Annual Growth Rate (CAGR) of 10.8% from 2023 to 2033.

The surge in the home blood testing devices market can be attributed to the increasing demand for convenient and accessible healthcare solutions. These devices empower individuals to monitor their health parameters from the comfort of their homes, eliminating the need for frequent visits to healthcare facilities. As the market encompasses a diverse range of testing devices, including blood glucose monitors, cholesterol testing kits, blood pressure monitors, and more, it caters to a wide array of health monitoring needs.

One of the driving factors behind this growth is the growing prevalence of chronic diseases such as diabetes and cardiovascular disorders. Regular monitoring of these conditions is crucial for effective disease management, and home blood testing devices provide a practical solution for individuals seeking proactive healthcare management.

Future Market Insights recognizes the significance of these trends and is well-positioned to capitalize on the opportunities presented by the burgeoning home blood testing devices industry. Our commitment to delivering insightful market intelligence and strategic analysis positions us as a key player in this evolving landscape.

As the industry continues to evolve, we remain dedicated to providing timely and relevant information to our clients, enabling them to make informed decisions in this dynamic market. We are excited about the prospects that lie ahead and look forward to contributing to the continued growth of the global home blood testing devices industry.

Key Takeaways Home Blood Testing Devices Market:

  • Market Growth and Demand: The home blood testing devices market has been experiencing significant growth due to increasing consumer demand for convenient and accessible healthcare solutions. These devices allow individuals to monitor various health parameters in the comfort of their homes, reducing the need for frequent visits to healthcare facilities.
  • Health Monitoring: Home blood testing devices encompass a range of products designed for monitoring different health metrics, including blood glucose levels, cholesterol levels, blood pressure, hemoglobin levels, and more. These devices cater to individuals with chronic conditions such as diabetes, cardiovascular diseases, and anemia.
  • Convenience and Accessibility: One of the primary drivers behind the growth of this market is the convenience and accessibility offered by home blood testing devices. Users can monitor their health status without the need for frequent visits to clinics or laboratories, saving time and reducing the associated costs.
  • Technological Advancements: Advances in technology have led to the development of more accurate and user-friendly home blood testing devices. These devices often come with features like smartphone connectivity, data storage, and user-friendly interfaces, making it easier for individuals to track and manage their health data.
  • Rising Health Awareness: Increased awareness about the importance of proactive health management has contributed to the popularity of home blood testing devices. People are becoming more interested in monitoring their health parameters and making lifestyle adjustments based on the collected data.

Heightened Market Interest: Our Complete Report Delivers Extensive Analysis and Trends!

Home Blood Testing Devices Market: Key Players:

  • Athelas
  • PixCell Medical
  • Nanogenecs
  • pts Diagnostics
  • Tasso
  • Cue
  • Abbott
  • D&A health
  • Walgreens
  • Everlywell

Home Blood Testing Devices Market: Segmentation

The global home blood testing devices market is segmented based on the indication type, distribution channel and region.

Indication Type:

  • Bacterial infection testing
  • Heart condition testing
  • Cancer testing
  • Glucose testing
  • Others

Distribution Channel Type:

  • Hospital Pharmacies
  • Online Stores
  • Drug Stores
  • Retail Stores

About Future Market Insights (FMI)

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

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Global Excessive Daytime Sleepiness Market is expected to reach USD 12.39 Billion by 2033 with a fast-expanding CAGR of 8.8%

The excessive daytime sleepiness market drowsiness was projected to be worth USD 4.9 billion in 2022. With an expected CAGR of 8.8% from 2023 to 2033, this market is expected to earn USD 5.33 billion by 2023 and USD 12.39 billion by 2033. Hypersomnia, often known as excessive daytime sleepiness, is a sleep disorder that involves persistent daytime sleepiness. Obstructive sleep apnea (OSA), Narcolepsy, and other sleep-altering/-depriving habits, medical or mental illnesses are the main causes of excessive daytime sleepiness.

OSA is brought on by airway blockages, whereas narcolepsy is a neurological disorder with long-term decreased regulation of the sleep-wake cycle. The National Sleep Foundation estimates that 40% of people worldwide struggle with excessive daytime sleepiness.  Daytime extreme drowsiness, low energy, and frustration are symptoms of this condition. Stimulants, antidepressants, amphetamine salts, and sodium oxybate are examples of therapeutic drugs.

Devices such as continuous positive airway pressure (CPAP) machine are used for Excessive daytime sleepiness therapies and Nocturnal polysomnography, polysomnography and other devices are used for Excessive daytime sleepiness diagnostics. Coronavirus and lockdown has propelled the global excessive daytime sleepiness market by the economic crisis, work-from-home stress and disrupted circadian cycle has surged the excessive daytime sleepiness market.

The devices for OSA, including CPAP, BiPAP devices and special ventilators were deliberated with massive production to meet the unprecedented demands of increasing Coronavirus patients. The overall global market of Excessive daytime sleepiness market is growing at lucrative rate.

Excessive daytime sleepiness Market: Drivers and Restraints

The drivers of global excessive daytime sleepiness market include increase of population, awareness, healthcare expenditure diverse drug array and Government reimbursement policies. The advancing R&D and technology of manufacturers and academics rocket the excessive daytime sleepiness market by developing novel therapeutics and unraveling the pathogenesis.

Several targeted drugs and devices for Excessive daytime sleepiness diagnosis and therapies are in pipelines and clinical trials to hit the market. However, the global excessive daytime sleepiness market is constrained by stringent drug regulations of the government, lack of acceptance of OSA masks and wearable because of their discomfort and higher cost.

Although the advancing technologies are propelling the global excessive daytime sleepiness market and open the vast horizon of opportunities of future growth, coupled with the emerging telemedicine technology and mobile health with improved convenience of treatment with the facility of video visiting sleep doctors.

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Excessive daytime sleepiness Market: Overview

The global Excessive daytime sleepiness market is expected a growth revamp driven by the increasing Excessive daytime sleepiness disorders, therapy demands and the advancing R&D. By Diseases, OSA dominates the market of excessive daytime sleepiness market with its giant market of devices and drugs.

The segment of Narcolepsy is expanding at a faster pace. By treatment, devices for excessive daytime sleepiness market rules the segment with its diverse and massive market of masks, wearable sleep trackers, cushions, Positive Airway Pressure Devices, CPAPs and others.

The segment of Therapeutic drugs is growing at a faster pace of sodium oxybate market. By Distribution channels, Hospitals and sleep centers occupy the largest segment of excessive daytime sleepiness market, propelled by the advanced diagnostics, precision therapies and government reimbursements. The Home Care Settings segment is growing at a faster rate with affordability and comfort.

Excessive daytime sleepiness Market: Regional Outlook

North America dominates the global excessive daytime sleepiness market with rising patients, key players, advanced healthcare and research. Europe holds the second-largest excessive daytime sleepiness market due to its high prevalence of excessive daytime sleepiness and advanced healthcare.

The Asia-Pacific excessive daytime sleepiness market is revamping with the highest growth rate, driven by its rising Excessive daytime sleepiness cases, advancing therapies and technology. South Asian regions including India, where Government and healthcare institution provide aid for awareness and therapies for excessive daytime sleepiness.

Latin America excessive daytime sleepiness market is also growing with the surging cases of OSA and improving healthcare. Middle East & Africa excessive daytime sleepiness market is also elevating due to the surging cases of OSA, narcolepsy and increase in awareness.

Excessive daytime sleepiness Market: Key Players

The key players of global excessive daytime sleepiness market include

  • Teva Pharmaceutical Industries Ltd.
  • GE Healthcare
  • Jazz Pharmaceuticals
  • Compumedics
  • Fisher & Paykel Healthcare
  • BIOPROJET
  • BMC Medical Co. Ltd.
  • Avadel Pharmaceuticals plc
  • Cadwell Laboratories Inc. Ltd
  • GlaxoSmithKline plc
  • Braebon Medical Corporation
  • Pfizer
  • Becton Dickinson
  • Theranexus
  • LivaNova PLC and Merck & Co.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.

The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaust analysis on

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Indication
  • Value Chain

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.

The report also maps the qualitative impact of various market factors on market segments and geographies.

Excessive daytime sleepiness Market: Segmentation

The global excessive daytime sleepiness market is segmented into diseases, treatment, distribution channels and regions.

Diseases

  • Obstructive Sleep Apnea (OSA)
  • Narcolepsy

Treatment

  • Devices (Diagnostics, Therapy)
  • Therapeutic Drugs (Stimulants, Anti-Depressants, Amphetamine salts, Sodium oxybate)

Distribution channels

  • Hospitals & Sleep Laboratories
  • Home Care Settings

About Future Market Insights (FMI)

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

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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
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Global Contractual Cleaning Services Market Set for Steady Growth Driven by Sustainability and Workplace Health Trends

The global market for contractual cleaning services is projected to reach an impressive USD 276.69 billion by 2033, growing at a compound annual growth rate (CAGR) of 4.3% from its estimated size of USD 181.61 billion in 2023. This market expansion is driven by an increasing demand for workplace cleanliness, enhanced employee health standards, and the growing emphasis on sustainable practices across various industries.

Key Growth Drivers

The surge in demand for contractual cleaning services is being propelled by several factors:

  • Workplace Health & Sustainability: As employee health concerns and workplace sustainability become central to business priorities, the demand for regular and specialized cleaning services is rising. A cleaner and healthier work environment has proven to boost productivity and reduce employee absenteeism.
  • Growing Awareness of Cleanliness: Awareness about cleanliness and hygiene, particularly in workplaces and commercial spaces, is at an all-time high. Services like dust cleaning in theaters, event venues, and stadiums are increasingly sought after as part of this shift.
  • Rise of Green Cleaning Practices: Environmental concerns are pushing the market toward “green cleaning” solutions, where eco-friendly, non-toxic cleaning products are used. This is gaining traction due to the harmful effects of traditional cleaning chemicals, including allergies and carcinogens. The increasing shift towards green cleaning services is expected to significantly boost market demand over the next decade.

Regional Insights

  • United States: The U.S. market is the largest, with significant growth driven by increasing demand for sanitary working environments and a projected rise in janitorial positions.
  • United Kingdom: The U.K. is witnessing a shift towards eco-friendly cleaning solutions, particularly in the construction and mining sectors, as demand for green cleaning services grows.
  • Asia Pacific: Asia Pacific, led by rapid urbanization and increased construction activities, is projected to experience robust growth, with key markets like China and India driving demand for cleaning services.

Key Players

  • Sodexo
  • ISS AS
  • Compass Group plc
  • ABM Industries Inc.
  • Anago Cleaning Systems
  • Jani-King International Inc.
  • Aramark Corporation
  • ChemDry
  • Pritchard Industries Inc.
  • Mitie Group plc
  • Vanguard Cleaning Systems
  • The Clean Space
  • CleanNet USA Inc.
  • Duraclean International Inc.

Recent Development

  • In October 2022: Under a five-year agreement, SBFMl offered PureGym, the leading gym operator in the United Kingdom, a comprehensive range of commercial cleaning services at all of its United Kingdom sites.
    • With its main headquarters in Leeds, SBFM, and PureGym entered into the deal on September 1, 2022.
    • PureGym’s facilities are typically open, serving 1.7 million members over 525 clubs, mostly in the United Kingdom and Europe.
    • The organization recently disclosed plans to double the number of clubs in its portfolio, to have more than 1,000 clubs globally by the year 2030.
  • Abelian United Kingdom Ltd., a cleaning firm situated in London, was purchased by Clean Space in February 2022. The firm wanted to boost resources and make Clean Space more competitive in London with this purchase.
  • To offer better and more creative service options with a larger range of technical talents, Pinnacle acquired Lancashire, a cleaning service firm, in November 2021.
  • A national expert in contract cleaning, CCM Facilities Ltd. was acquired by Excellerate Services in January 2021.

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Key Segments

By Service Type:

  • Exterior
    • Parking Lot
    • Street
    • Window
    • Other Exterior
  • Interior
    • Floor & Corridor
    • Lobby
    • Other Interior
  • Fabric Cleaning
    • Carpets
    • Upholstery
  • Restoration & Remediation Services
  • Swimming Pool & Maintenance

By End Use:

  • Residential
    • Individual Houses
    • Apartments
  • Commercial
    • Educational Institutions
    • Hotels and Restaurants
    • Healthcare and Medical
    • Retail Outlets
    • Corporate Offices
    • Others (Financial Institutions)
  • Industrial

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
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Global Battery Energy Storage System Market to Reach USD 52.9 Billion by 2033, Growing at a Robust CAGR of 11.1%

The global Battery Energy Storage System market is set to experience robust growth, projected to increase at a compound annual growth rate (CAGR) of 11.1%, reaching a market value of USD 52.9 billion by 2033, up from USD 18.5 billion in 2023. This substantial growth is driven by the rising demand for renewable energy sources, grid modernization projects, and the need for dependable electricity supply, particularly within the commercial and industrial sectors.

The global transition toward renewable energy sources such as solar and wind is creating a surge in demand for energy storage solutions capable of managing the intermittency of these power sources. The BESS market is set to benefit from increased investments in grid infrastructure and an expanded reliance on battery storage solutions to stabilize electricity supply.

Key Drivers of Market Growth

  • Rising Renewable Energy Penetration: With the growth of solar, wind, and other renewable energy sources, there is an increasing need for efficient energy storage solutions that can smoothen the fluctuating power supply. BESS is seen as essential for storing excess energy during periods of high production and releasing it when generation is low.
  • Grid Modernization Projects: Ongoing efforts to upgrade and modernize electrical grids across the globe are expected to drive the adoption of battery storage systems. These systems play a key role in enhancing grid reliability, reducing transmission losses, and supporting the integration of renewable energy sources into national grids.
  • Commercial and Industrial Applications: Businesses in sectors more vulnerable to power outages—such as manufacturing, data centers, and healthcare—are increasingly adopting energy storage systems. The ability to store and quickly deploy electricity in times of disruption is becoming a competitive advantage.

Battery Technologies: Lithium-Ion to Lead the Charge

Lithium-ion (Li-ion) batteries remain the dominant technology in the BESS market, thanks to their high energy density, long lifespan, and compact design. These batteries are extensively used in grid-connected and off-grid systems, as well as in electric vehicles (EVs), which further fuels their market growth.

The lithium-ion battery segment is expected to expand at a CAGR of 11.1%, reflecting a significant rise in demand for mega renewable energy projects worldwide. With advancements in battery technology, the cost of lithium-ion systems is expected to decrease, further facilitating adoption across sectors.

Challenges and Opportunities

While the market holds immense potential, there are challenges that could impede growth, particularly the high upfront costs associated with advanced storage systems, such as lithium-ion and flow batteries. However, ongoing innovations in battery chemistry and manufacturing processes are expected to drive cost reductions and improve the economic feasibility of large-scale deployments.

Opportunities for Growth

There is substantial room for growth in emerging markets, particularly in rural electrification projects in regions like Africa, Southeast Asia, and Latin America. Governments in these regions are investing heavily in renewable energy and battery storage solutions to power remote communities and enhance grid stability.

Regional Insights

  •  China: China is projected to dominate the BESS market with a CAGR of 13.1%, reaching US$ 6.2 billion by 2033, driven by electrification and government incentives.
  • United States: The U.S. BESS market is expected to grow at a CAGR of 11.9%, reaching US$ 15.8 billion by 2033, fueled by grid modernization and renewable energy adoption.
  • United Kingdom: The UK BESS market is anticipated to grow at a steady pace, reaching US$ 2.0 billion by 2033, driven by government policies and renewable energy integration.
  • India: India’s BESS market is projected to grow at a CAGR of 12.6%, attaining a value of US$ 378.2 million by 2033, bolstered by rural electrification and clean energy initiatives.
  • Japan: Japan’s BESS market is expected to reach US$ 4.3 billion by 2033, growing at a CAGR of 12.0%, driven by the adoption of energy storage systems and sustainability goals.

Key Players

  • BYD Company Limited (China)
  • SAMSUNG SDI Co., Ltd. (South Korea)
  • LG Energy Solutions Co., Ltd. (South Korea)
  • Panasonic Corporation (Japan)

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Key Segments

By Storage System:

  • Front-of-the-meter
  • Behind-the-meter

By Element:

  • Battery
  • Others

By Battery Type:

  • Lithium-ion Batteries
  • Advanced Lead-acid Batteries
  • Flow Batteries
  • Others

By Connection Type:

  • On-grid
  • Off-grid

By Ownership:

  • Customer-owned
  • Third-party Owned
  • Utility-owned

By Energy Capacity:

  • Below 100 MWh
  • Between 100 to 500 MWh
  • Above 500 MWh

By Application:

  • Residential
  • Commercial
  • Utility

By Region:

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

About Future Market Insights (FMI)

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

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Global PV Inverter Market Set for Strong Growth Driven by Rising Demand for Renewable Energy and Technological Advancements

The global PV Inverter market is poised to capture a valuation of USD 1.5 billion in 2023 and expand to USD 2.8 billion by 2033, according to a new report by Future Market Insights. The market is forecast to grow at a robust Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period from 2023 to 2033. The growth is being driven by a combination of rising demand for clean energy, government incentives, and increasing concerns over environmental sustainability.

Key Market Growth Drivers

  • Rising Demand for Electricity: The increasing global demand for electricity, exacerbated by frequent power cuts and rising consumption, is fueling the adoption of PV inverters. Solar energy offers an effective alternative, supporting the market’s growth trajectory.
  • Growing Environmental Awareness: The global push for reducing carbon emissions and the widespread awareness of sustainable energy sources are driving the demand for solar energy systems, including PV inverters. These systems are integral to harnessing solar power efficiently.
  • Commercial and Industrial Adoption: There is a significant surge in the use of PV inverters in commercial and industrial sectors for generating renewable energy. This is particularly evident in urbanized and energy-hungry regions, where the demand for sustainable electricity is high.
  • Government Support & Initiatives: Government incentives, such as Feed-in Tariffs (FiTs) and tax credits, are enhancing the affordability and adoption of PV inverters. In countries like the United States, the government offers a 26% tax credit for solar installations, further stimulating market growth.
  • Expanding Demand in Emerging Markets: Developing countries, particularly in Asia, are experiencing increasing adoption of PV inverters. China and India, in particular, are ramping up investments in renewable energy to meet growing electricity consumption and mitigate power shortages.

Market Trends Driving Growth

  • Technological Advancements: The demand for hybrid solar inverters and other advanced models is rising due to their high efficiency, which allows for better energy management and reduced waste. These inverters are particularly popular in residential, commercial, and industrial installations.
  • Adoption of On-Grid Connectivity: The on-grid segment is expected to dominate the market with its cost-efficiency and capability to meet rising electricity consumption. The market is seeing increased investments in grid-connected solutions to optimize solar energy production.
  • Phase Type & Product Preferences: The three-phase inverter type continues to dominate the market due to its superior efficiency in energy distribution and performance. Additionally, central-type inverters are growing in popularity, especially for large-scale solar installations, thanks to their ability to provide constant power and efficiency.

Regional Insights

  • United States: The U.S. PV inverter market is poised for growth, driven by increasing adoption of hybrid solar inverters and government subsidies.
  • United Kingdom: The UK market is expanding due to favorable government policies and technological advancements in solar inverter efficiency.
  • China: China’s PV inverter market is fueled by growing demand for renewable energy solutions and extensive solar installations.
  • Japan: Japan’s market growth is supported by rising electricity consumption and a shift towards renewable energy sources.
  • South Korea: South Korea’s PV inverter market is showing steady growth, driven by increased adoption of solar energy in urban and rural areas.

Competitive Landscape

Several key vendors are increasingly focusing on developing environmentally friendly, non-hazardous solar inverters to support a healthier ecosystem. These companies are leveraging advanced technologies and innovative techniques to create unique and efficient solar devices. The growing popularity of automated systems, machines, and robotic devices has also captured consumers’ attention, as these solutions promise seamless and efficient operation with minimal effort.

Manufacturers are embracing more adaptable, atmospheric-friendly inverters, which are expected to further drive market expansion. To meet consumer demand for durable and high-performing products, leading vendors are implementing strategies to design long-lasting PV inverters. These companies are also utilizing various growth strategies, including mergers, acquisitions, partnerships, collaborations, and strategic agreements.

Key Players in the Market are

  • Eaton
  • Sungrow
  • Growatt New Energy
  • Darfon Electronics Corp
  • Schneider Electric
  • Enphase energy
  • Seimens
  • Fimer Group

Recent Developments in the Market are

  • In 2021, Sungrow Power partnered with Hudaco Energy to distribute solar products in South Africa.
  • In September 2021, Sungrow dealt with an agreement with a local distributor in Pakistan to supply commercial and residential inverters to get rid of the electricity cut-off.
  • In March 2021, Fronius International announced its single phase, Primo GEN24 Plus, a hybrid inverter. This inverter launched in the 3.0–6.0 kW category with a high-tech, flexible, stylish design.
  • In March 2020, Fimer Group acquired ABB, a solar inverter company. This acquisition took place to boost the company’s presence.

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PV Inverter Market Segmentation by Category

By Product:

  • String
  • Micro
  • Central

By Phase:

  • Single Phase
  • Three Phase

By Connectivity:

  • Standalone
  • On-grid

By Nominal Power Output:

  • < 0.5 kW
  • 0.50–3 kW
  • 3–33 kW
  • 33–110 kW
  • >110 kW

By Nominal Output Voltage:

  • < 230 V
  • 230–400 V
  • 400–600 V
  • 600 V

By Application:

  • Residential
  • Commercial & Industrial
  • Utility

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Packing Belt Market is Expected to Generate USD 3.2 Billion by 2033: Future Market Insights, Inc.

The global packing belt market is poised for robust growth, with an estimated valuation of USD 2.0 billion in 2023 and a projected compound annual growth rate (CAGR) of 5.2% between 2023 and 2033. By 2033, the market is expected to reach USD 3.2 billion, driven by increasing demand for reliable and high-quality packaging solutions across industries.

As companies across logistics, e-commerce, and manufacturing sectors place greater emphasis on product safety and protection, the role of packing belts in ensuring secure product bundling has become critical. Packing belts are specifically designed to hold products firmly together, reducing the risk of damage during handling, transportation, or storage.

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By preventing product movement and minimizing the chances of collision or breakage, packing belts enhance product integrity and ensure safer delivery to end customers.

The rise of customized packaging solutions is further amplifying market growth. Businesses are increasingly opting for tailored packing belt solutions to meet specific product requirements, ensuring optimal security and stability during transit. This trend is particularly evident in industries where goods are transported over long distances or require repeated handling throughout the supply chain.

Understanding The Packing Belt Market

The Packing Belt Market refers to the industry segment involved in the production, distribution, and use of packing belts. These belts are typically used for packaging and securing goods during the shipping and handling processes. Packing belts are often made from materials like plastic, polyester, or steel and are used to bundle or strap items together to ensure that they are securely packaged and transported.

Key Takeaways From The Packing Belt Market

  • The global demand for packing belts is expected to grow at a 2.2% CAGR from 2018 to 2022.
  • In 2022, the packing belt market was valued at USD 1.9 billion.
  • The United States packing belt market is forecasted to generate an absolute $ opportunity of USD 202.6 million from 2023 to 2033.
  • India’s packing belt market is expected to grow at a 5.6% CAGR, driven by increasing manufacturing activities.
  • The polyester segment is predicted to capture around 52.4% of the market share during the evaluation period.
  • The shipping & logistics industry is projected to show significant growth, contributing an incremental opportunity of USD 344.6 million from 2023 to 2033.

Competitive Landscape

Key companies in the packing belt market are heavily focused on increasing profits from their present product portfolios while also researching potential new applications. The players are focusing on improving their packing belt production capacities to meet demand from a wide range of end use industries. Prominent players are also advocating for geographical development to reduce reliance on imported packaging belts.

Recent Developments

  • In June 2022, Dynaric Inc., a global provider of strapping equipment and materials, announced the launch of a new range of battery-powered hand tools for plastic strapping. The tools offer increased efficiency and ease of use, catering to the growing demand for portable and versatile strapping solutions.
  • In February 2022, Signode, a leading manufacturer of packaging systems, introduced a new line of high-performance polyester strapping. The strapping is designed to provide improved strength, reliability, and stability for securing heavy loads during transportation.

Key Players: Packing Belt Market

Teufelberger holding ag; Samuel Strapping Systems; FROMM Packaging Systems Inc.; Mosca GmbH; Linder GmbH; The Plastic Strapping Company Ltd; Northshore Strapping Company; Plastic Extruders Ltd.; National Webbing Products; Campanini UGO S.P.A; Consent LLC; Narrowtex Pty (Ltd.); Universal Strapping Inc.; Nottingham Narrow Fabrics Ltd; DAE YANG STRAPS CO., LTD; Niyo Film Packaging; Jaishni Packs Private Limited; Auto Strap India; Signor Polymers Pvt. Ltd; Ruparel Polystrap Pvt. Ltd.

Key Segments Profiled in the Global Packing Belt Market

By Material:

  • Polypropylene (PP)
  • Polyethylene (PE)
  • Polyethylene Terephthalate (PET)
  • Polyvinyl Chloride (PVC)
  • Polyester
  • Nylon

By Thickness:

  • Below 0.5mm
  • 0.5mm-0.75mm
  • 0.76mm-1mm
  • Above 1mm

By End Use Industry:

  • Food & Beverage
  • Pharmaceuticals
  • Electrical & Electronics
  • Automotive
  • Building & Construction
  • Textiles & Apparels
  • Chemicals & Fertilizers
  • Shipping & Logistics

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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PET Hinged Container Market is Projected to Grow at a Strong CAGR of 2.9% by 2034 | Future Market Insights, Inc.

The global PET hinged container market is projected to achieve a valuation of USD 4.4 billion by 2034, rising from an estimated USD 3.3 billion in 2024. Despite a modest compound annual growth rate (CAGR) of 2.9% over the forecast period, the market continues to show potential, driven by key industry trends and consumer behavior shifts.

Advancements in packaging technologies and increasing automation across developed and developing regions are playing a pivotal role in shaping the industry. Furthermore, the rapid growth of last-mile delivery services in Asian markets, particularly in India, China, Japan, and South Korea, has significantly contributed to the rising demand for PET hinged containers, setting a strong foundation for future market expansion.

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The growing adoption of PET hinged containers is attributed to their diverse application across multiple sectors, including pharmaceuticals, nutraceuticals, and food & beverage. The rise of urban lifestyles and on-the-go consumption habits in densely populated countries has further boosted the popularity of these containers over the past few years.

Additionally, heightened environmental consciousness among consumers and businesses is fueling the demand for PET hinged containers due to their recyclability and lower carbon footprint compared to other plastic materials. With increasing efforts toward sustainability, PET hinged containers are being recognized as a viable, eco-friendly solution for modern packaging needs.

Key Takeaways From the PET Hinged Container Market

  • Consistent demand driven by widespread use in pre-packaged foods, salads, and ready-to-eat meals, with a 2.1% CAGR reported from 2019 to 2023.
  • India’s PET hinged container industry is forecasted to grow at a 6.3% CAGR from 2024 to 2034.
  • The global PET hinged container market is projected to rise at a 4.7% CAGR through 2034, with China’s growth fueled by booming e-commerce and food delivery sectors.
  • The United States market indicates maturity, with an expected CAGR of 1.7% through 2034.
  • The APET segment is expected to hold a 36.2% industry share by 2024.
  • The thermoformed segment accounts for up to 53.7% of the overall market share.

Prominent Drivers of the PET Hinged Container Market

  • Growing Demand for On-the-Go Food Packaging
    With the rising trend of fast food, takeaways, and ready-to-eat meals, PET hinged containers provide a convenient, lightweight, and durable packaging solution for both consumers and food service providers.
  • Increased Focus on Sustainability
    PET is widely recyclable, and the increasing emphasis on eco-friendly packaging has led to a higher adoption of PET hinged containers as a sustainable alternative to non-recyclable materials.
  • Superior Product Protection and Visibility
    PET containers offer excellent clarity, allowing consumers to view the product inside, while the hinged design provides secure closure and protection, making them ideal for fresh produce, bakery items, and deli products.
  • Rising Popularity in Retail and E-commerce
    With the growth of retail food chains and online grocery delivery services, demand for safe and visually appealing packaging, such as PET hinged containers, has surged.
  • Stringent Food Safety Regulations
    PET is known for being food-safe and compliant with various global packaging standards. The need for hygienic, tamper-proof packaging has driven its adoption in the food and beverage industry.l

Competitive Landscape

The packaging industry is continually developing. The same trend is seen in the PET hinged container industry, where businesses are investing extensively in R&D to develop sustainable and high-performance packaging solutions.

The industry is crowded with global and domestic corporations, all seeking to grow their operations in undeveloped markets. Mergers and acquisitions are typical in this area, as corporations attempt to expand their market reach, technological capabilities, and product offerings.

Recent Developments

  • In April 2023, Tesco and Faerch launched a pioneering initiative to recycle used PET trays from European curbside waste into new packaging for its chilled ready meals, marking a significant step towards sustainability in the food packaging industry.
  • In 2024, Sabert Corporation, headquartered in the United States, has launched its new Pulp Hinged Containers and Pulp Portion Cups. The expansion includes sustainable and compostable products. These new offerings aim to meet the needs of foodservice operators seeking eco-friendly packaging solutions.

Key Players in the PET Hinged Container Industry

  • Amcor Limited
  • Berry Global Group, Inc.
  • Sonoco Products Company
  • Silgan Holdings Inc.
  • Sealed Air Corporation
  • Placon Corporation
  • Pactiv LLC
  • Anchor Packaging Inc.
  • Dart Container Corporation
  • Linpac Packaging Ltd. (Klöckner Pentaplast)
  • Sabert Corporation
  • Genpak, LLC

Key Segments of the PET Hinged Container Industry

By Material:

By material type, the market includes Recycled Polyethylene Terephthalate (R-PET), Crystallized Polyethylene Terephthalate (C-PET), and Amorphous Polyethylene Terephthalate (A-PET).

By Capacity:

In terms of capacity, the market is categorized into containers holding up to 20 ounces, 20 to 30 ounces, 30 to 40 ounces, and more than 40 ounces.

By End-use:

By end use, the market serves various sectors such as meat, poultry, and seafood; fruits and vegetables; ready-to-eat meals; bakery products; snack foods; and others.

By Region:

Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.

About Future Market Insights (FMI)

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

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube