Global Frozen Food Packaging Market With CAGR of 8.3%: Trends, Growth Drivers, and Future Outlook by 2033

The frozen food packaging market is estimated to be valued at US$ 900 million in 2023 and is rising to US$ 2.0 billion by 2033. Sales of frozen food packaging are likely to grow at a CAGR of 8.3% during the forecast period.

The coverage of various sectors and applications that may have future market impact are covered in the Frozen Food Packaging Bag Market 2023 report. The specifics are based on historical turning points and present trends. The amount of production on the global market and for each type during the anticipated time are also examined in this part. For companies intending to enter or grow in a market, these studies offer insightful information that is helpful in guiding their strategic decisions. Overall, a market research study on frozen food packaging bags is an effective tool for comprehending market dynamics and capturing potential possibilities.

The demand for frozen food packages in the food and beverage industry is anticipated to increase due to consumers’ growing desire for fresh food products. Additionally, it is anticipated that rising demand for frozen dessert delivery will favourably affect the development of the global market for frozen food packaging. The global market for frozen food items is anticipated to grow at a CAGR of 7.5% between 2022 and 2032, according to Future Market Insights.

Moreover, surge in demand for frozen dessert products among customers has further contributed towards growth of the global frozen food packaging market. With the growing need to protect the food products from exposure to extreme weather conditions and moisture, manufacturers are implementing enhanced packaging solutions such as temperature controlled and tamper-proof packaging.

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Major player in the global market of frozen food packages are Ball Corporation, Amor Ltd., Crown Holding Inc., Bemis Company Inc., Pactiv LLC., International Paper Company, Sonoco Products Company, Sealed Air Corporation, Printpack Inc., Berry Global Group Inc. and Huhtamaki Oyj.

Bound to these factors, sales of the frozen food packages in the food and beverages industry is projected to witness robust growth throughout the forecast period.

Packages for frozen food products also remain concentrated among the suppliers of the frozen food products. Manufacturers in the food and beverage industry witness significant demand for frozen food products as they have a fresh flavor and can be preserved for comparatively long time.

Suppliers of prefer opting for frozen food product packages in order to protect the product from moisture and unprecedented climate conditions. These factors are projected to fuel demand for the frozen food packages in the food and beverage industry positively.

On the other hand, high quantity of sodium in various frozen food products has led to a drop in the sales of the frozen food products, which has in turn led to a drop in demand for the frozen food packages.

In addition, increasing prices of the frozen food products add to the overall cost price of the product, which is projected to witness drop in demand for the frozen food packages. These factors are projected to inhibit growth of the global market of frozen food throughout the forecast period.

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Global Frozen Food Packaging Market by Category

By Material Type:

  • Plastic
  • Aluminum
  • Paper and Paperboard
  • Tempered Glass

By Packaging Type:

  • Rigid
  • Boxes
  • Tubs & Cups
  • Cans
  • Trays
  • Flexible
  • Pouches
  • Bags (includes boil in bags)
  • Films
  • Others

By Food Type:

  • Ready to Eat Products
  • Fruits and Vegetables
  • Meat, Poultry, & Seafood
  • Dairy Products
  • Others (Soups, etc.)

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Plastic Materials to Witness Robust Demand

With the increasing demand for tamper-proof packaging, manufacturer prefer using plastic materials for frozen food product packaging. By packaging material, the plastic segment is projected to represent relatively high revenue growth, reflecting more than US$ 7,000 Mn by 2022-end. On the other hand, the paper & paperboard segment is expected record a relatively high CAGR through 2022.

Based on the packaging type, the bags & pouches segment is projected to register a robust CAGR, recording more than US$ 2,000 Mn by 2017-end. During the forecast period, the frozen specialties application type segment is expected will reflect a healthy CAGR.

On the other hand, the meat, poultry & seafood segment is projected to account for more than US$ 3,000 Mn by 2022-end. Europe will continue to remain a leading market for the frozen food packages globally.

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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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USA Bed Pillow Market Size is Set to Reach ~US$ 837.1 Million in 2023

The USA bed pillow market is set to reach US$ 837.1 million in 2023. Overall, bed pillow sales in the USA market will surge at 5.0% CAGR over the next ten years. By the end of 2033, the United States market valuation will exceed US$ 1,365.0 million.

Rising usage of bed pillows across households, hotels, and hospitals is driving the USA market forward. Besides this, growing popularity of smart pillows will boost sales through 2033.

Sleep is vital for refining physical and mental health as well as improving the quality of life. Rising awareness about the importance of sleep due to busy lifestyles promote the utility of products. This includes bed pillows and other bedding items.

Rising geriatric population in the region is expected to elevate demand for bed pillows through 2033. As per the statistics released by the United Nations Population Fund in 2022, people aged 15 to 64 accounted for a large proportion in the USA. According to the same source, in 2022, 17% of the population was aged 65 and above.

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Older people are more prone to low back pain due to age and tear of spinal discs or other body structures. Hence, they are showing a keen inclination towards adopting innovative bed pillows. Rising adoption of pillows such as down/feather will boost sales in the United States.

Development of innovative products is acting as a catalyst triggering sales in the United States market. New sustainable and eco-friendly products are entering the USA market. They are being integrated with advanced technologies to provide additional benefits.

Key companies are focusing on launching novel products to improve customer experience. They are also employing merger & acquisition strategy to expand their presence. For instance, in 2020, Texas-based Alex Orthopedic Inc. acquired an ergonomic product, pillow and cushion maker Jobri. These strategies adopted by manufacturers will boost the USA bed pillow market.

Key Takeaways from the USA Bed Pillow Market Study

  • Bed pillow sales in the United States are set to rise at 0% CAGR through 2033.
  • The USA pillow market will reach a valuation of US$ 1,365.0 million by 2033.
  • By product type, down/feather segment holds around 1% share of the USA market
  • Based on application, residential segment is likely to account for 5% market share in 2023.
  • By sales channel, online retailers’ category will progress at 8% CAGR through 2033.

“Rising geriatric population with severe neck disorders will elevate bed pillows demand in the USA. Besides this, increasing incidence of falls and injuries will bode well for the market.” says an FMI analyst.

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Who is Winning?

Market players are focusing on introducing various initiatives to promote sustainability. For example, various manufacturers are shifting towards reusable and recyclable methods and it has been appealing to consumers.

New smart bed pillows are being developed to improve consumers’ sleeping experience. Market players are also focusing to tie up with retailers to expand the product sales.

Brooklyn Bedding, United Pillow, Paradise Pillow Inc., Hollander Sleep & Décor, Pillows & Fibers, Inc., Soft-Tex International Inc., Future Foam Inc., Star Bedding Company, Tempur Sealy International, Inc., Foam ‘N More, Inc., Made Rite Bedding, Star Linen USA, FXI Innocor, Carpenter Co., Sinomax, Bedgear, and Serta, Inc. are leading bed pillows manufacturers operating in the USA market.

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

The study divulges compelling insights on the bed pillows market by product type (fiberfill/fiber, down/feathers, memory foam, gel memory foam, contour pillows, other types), application (hotels, hospitals, residential), by price range (>$15, $16 to $40, $41 to $75, $76 to $99, $100 to $149, $150+), and sales channel (online retailers, club brick & mortar, hypermarket/supermarket, departmental stores, specialty store & furniture store, others) across the USA.

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The consumer product team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the consumer product industry, the team is happy to help with every business intelligence research and consulting requirement.

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Green Tire Market will reach a value of US$ 78.6 Billion by 2032 | Future Market Insights, Inc.

The global green tire market size is projected to increase from US$ 31.1 Billion in 2022 to US$ 78.6 Billion by 2032, accelerating at a CAGR of 9.7% between 2022 and 2032. Rising demand for fuel efficient vehicles and vehicle components to reduce environmental pollution is a key factor driving the global green tires market.

Green tires are essential for lowering the price and fuel efficiency of automobiles. Changes in customer preferences for sustainable transportation options and strict laws are driving up demand for tires that are both energy-efficient and environmentally friendly.

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Green tires assist in minimizing the energy lost as a result of tire-to-rolling surface friction. Silica is used in the manufacturing of these tires to create low rolling resistance, which may eliminate tire friction on any given surface. It increases the energy efficiency of tires and raises the general level of tire and vehicle safety.

Changing consumer preferences for fuel-efficient automobiles, government regulations on carbon emissions, as well as a growth in demand from the e-commerce and logistics industries, would all boost the global market for green tire during the forecast period.

Key Takeaways of Green Tire Market Study

  • By tire size, the 18” tire size segment is projected to increase at a value CAGR of 9.1% during the forecast period.
  • In terms of vehicle type, passenger vehicles are anticipated to account for more than 68% of the global market.
  • Based on application, on-road segment is projected to grow at a value CAGR of 9.6% through 2032.
  • With implementation of stringent government regulations in the automotive industry, green tires market in Europe is projected to expand at 9.0% CAGR over the next ten years.
  • The green tire market in China is poised to expand at a value CAGR of 3%from 2022 to 2032.

“The market for green tire is expected to be supported by rising government regulations, and changing consumer preference for fuel-efficient tires. Besides this, product development with sustainable materials by prominent players coupled with adoption of strategies like collaborations and partnerships will bode well for the market.” says Future Market insights analyst

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Competitive Landscape

Market players are attempting to increase their market share by developing eco-friendly materials-based green tires and modernizing existing product lines. To increase their sales channels in the market, the major corporations are looking to partner with distributor networks and vehicle manufacturers.

Leading manufacturers of green tires also adhere to important supply trends including the introduction of new products and significant expenditures on R&D.

Continental AG, Bridgestone, Goodyear Tire & Rubber Company, Michelin Group, Pirelli & C S.p.A are a few of the market’s major participants.

Key Segments Covered in Green Tire Industry Analysis

Green Tire Market by Tire Size:

  • Below 15″
  • 16″
  • 17″
  • 18″
  • 19″
  • Above 19″

Green Tire Market by Vehicle Type:

  • Passenger Vehicle
  • LCV
  • HCV

Green Tire Market by Application:

  • On-Road
  • Off-Road

Green Tire Market by Sales Channel:

  • OEM
  • Aftermarket

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Find More Valuable Insights

The research report analyzes the market demand trends of green tire. The global market estimation and growth projection are based on factors like end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of green tire. As per Future Market Insights’ research scope, the green tire market has been studied and segmented on the basis of tire size, vehicle type, application, and sales channel. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.

About Future Market Insights (FMI) 

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Oceania Commercial Ice Machine Market Size Would be Worth US$ 80.9 Million in 2023

In 2023, the commercial ice maker market size in Oceania would be valued at US$ 80.9 million. By 2033, it would be more than US$ 133.9 million. From 2023 to 2033, demand for commercial ice machines would expand at a consistent 5.1% CAGR.

Demand for commercial ice machines is expected to surge due to urgent need from food service and healthcare sectors. Hence, companies are looking for continuous production of fresh and clean ice.

Rapidly growing tourism industry is supporting the expansion of local restaurants and hotels. It is driving the demand for ice machines. Rising consumption of alcoholic beverages would also spur the consumption of commercial ice machines.

Market players are constantly focusing on research and development activities to launch new product models. These would help to meet changing demand from modern consumers. To meet high demand for edible ice in beverages, market players are launching new machines that can produce ice cubes of different shapes.

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For instance, Hoshizaki produces heart-shaped ice cubes. These are tailor-made for bartenders and cocktail bars who like the unique shape of ice to differentiate themselves.

They also add to the complete cocktail experience. They do not compromise the purpose of properly chilling the drink. Similarly, increasing demand for ice machines of various sizes, shapes, capacities, and price points is driving industry players to launch new products.

Key Takeaways from the Oceania Commercial Ice Machine Market Study

  • Beverage service by end use segment dominated the Oceania commercial ice machine market with a revenue share of 4% in 2022.
  • By condensing unit, air cooled segment generated Oceania commercial ice machine market share of 9% in 2022.
  • By machine type, the under counter ice maker sub-segment would hold a significant share of more than 35% by 2033.
  • Based on ice type, the ice cube segment would generate the lion’s share from 2023 to 2033.
  • The Oceania commercial ice machine market registered a CAGR of 5% between 2018 and 2022.

“To keep up with high demand, manufacturers are developing advanced products in a variety of categories. Introduction of energy and water efficient ice makers would propel the market.” – says an analyst.

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Competitive Landscape: Oceania Commercial Ice Machine Market

Industry participants are practicing different growth strategic initiatives. They want to expand their product/service portfolio and enhance their footprint. Their strategies include contractual agreements, mergers & acquisitions, and collaborations.

For instance,

  • Hoshizaki Corporation is a well-known ice machine company. It is dedicated to improving people’s lives through world-class ice making services and solutions. In 2022, Hoshizaki acquired rival ice maker Brema Group. The acquisition was made through the European subsidiary named Hoshizaki Europe Holdings. It aims to make it ‘Europe’s number one manufacturer of commercial ice machines.’

Key players present in the target market are:

  • Hoshizaki, Ali Group S.r.l.
  • Brema Ice Makers
  • Berkshire Hathaway, Inc.
  • Electrolux Professional
  • Vogt Ice
  • Stuart Ice Makers
  • Manitowoc
  • Follett Products, LLC
  • Bromic Group Pty Ltd (Bromic Refrigeration)
  • Polar Refrigeration
  • Icetro Co. Ltd.

Get More Valuable Insights into Oceania Commercial Ice Machine Market

Future Market Insights, in its new offering, provides an unbiased analysis of the Oceania commercial ice machine market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033. The study divulges compelling insights on the Oceania commercial ice machine by machine type (modular, free-standing), by end use (hotels & restaurant, beverage service, cafeteria, commercial canteens & catering, healthcare facilities, food carts/food trucks, ice cream outlets, convenience stores, on-the-go restaurants, fast food restaurants), by ice capacity (above 1500 lbs, 500 to 1500 lbs, 50 to 500 lbs, 0 to 50 lbs), by condensing unit (water cooled, air cooled, remote air cooled), and country.

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The consumer product team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the consumer product industry, the team is happy to help with every business intelligence research and consulting requirement.

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Middle East and Africa Latex Foil Balloons Market is Likely to Record a US$ 187.2 Million in 2023

The Middle East and Africa market for latex foil balloons is on its way to registering a US$ 187.2 million in 2023. A modest 5.6% CAGR between 2023 and 2033 should take the market to a US$ 322.8 million in 2033.

The adoption of latex foil balloons for events such as birthdays and weddings is on the rise across the Middle East and Africa. It’s not surprising considering the following advantages of latex foil balloons:

  • Low porousness, which leads to extended balloon lifespans
  • Availability in a diverse range of sizes and shapes
  • Vibrant and visually appealing designs

However, there are certain disadvantages of latex foil balloons as well, which are likely to hamper market acceleration. These disadvantages include:

  • Higher costs compared to traditional balloons
  • Slow decomposition, which is fueling environmental concerns

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Sales in the market for latex foil balloons are likely to surge owing to the acceleration of the private occasions segment based on application. Between 2023 and 2033, the segment is set to propel at a slow 3.5% CAGR.

From 2018 to 2022, the demand for latex foil balloons dipped in the Middle East and Africa. Market acceleration during this period slowed to a sluggish 4.5% CAGR. This was a reflection of the COVID-19 pandemic’s effects, which brought public gatherings to a standstill.

However, FMI anticipates the market to pick up the pace again in the coming years. As demand for decorative items soars in the Middle East and Africa, so would latex foil balloons sales.

Key Takeaways from the Latex Foil Balloons Market Study

  • In 2023, the Middle East and Africa market for latex balloons is set to attain a US$ 187.2 million.
  • Between 2023 and 2033, the market’s acceleration is likely to be supported by a 6% CAGR.
  • In 2033, the market’s valuation looks set to surpass US$ 322.8 million.
  • The Saudi Arabia and UAE markets should account for a 7% share in the regional industry.
  • On the basis of application, the private occasions segment is likely to register a slow 5% CAGR in the coming years.
  • Between 2018 and 2022, the market recorded sluggish acceleration owing to a 5% CAGR.

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“Significant acquisitions are probable in the years ahead as players look to diversify and differentiate their products. Latex foil balloons companies must also take into account the environmental impact of their products and invest in research & development to come up with eco-friendly alternatives.” -Says an FMI analyst.

Who is Winning?

The Middle East and Africa market for latex foil balloons is thriving. In the coming years, emerging players are set to provide stiff competition to established names. Manufacturers should aim to make their products more cost-effective as latex foil balloons are more expensive compared to conventional alternatives.

Leading players operating in the Middle East and Africa latex foil balloons market are Party Centre Inc., Balloon & Printing Manufacturers (Pty) Ltd., The Balloon Factory, Balloons and More, Galaxy Balloons Inc., Prolloon, Balloons N More, B-loony, Balloonsa, Rubek Balloons, Pioneer Worldwide, and Amscan Inc.

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Future Market Insights, in its new offering, provides an unbiased analysis of the Middle East and Africa latex foil balloons market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033. The study divulges compelling insights on the latex foil balloons market based on product type (latex party balloon, foil party balloon), type (plain balloons, occasional/message balloons, themed balloons, number & letter balloons) application (private occasions, public occasions), size (less than 5″, 5” to 10”, 10” to 15”, 15” to 20”, above 20”), and sales channel (direct sales, indirect sales) across prominent Middle East and Africa countries.

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About Consumer Product Division at Future Market Insights

The consumer product team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the consumer product industry, the team is happy to help with every business intelligence research and consulting requirement.

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.
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Plastic Rigid IBC Market: Trends, Growth Drivers, and Future Outlook for Efficient and Sustainable Intermediate Bulk Containers by 2032

The size of the worldwide plastic rigid IBC market is anticipated to grow at a CAGR of 4.8% from 2022 to 2032, reaching a valuation of US$ 5.6 Billion in 2022. By the end of 2032, the market is projected to reach US$ 9.1 billion. By the end of 2022, the top 3 countries are expected to hold between 30 and 35 percent of the world’s plastic rigid IBC market, increasing sector profits.

The market for plastic rigid IBC is predicted to grow at a lucrative rate throughout the anticipated timeframe. Between 2022 and 2032, it is anticipated that sales would rise dramatically, opening up a US$ 3.1 billion opportunity for future growth.

Sales of plastic rigid IBCs are also expected to increase due to the growing need for bulk containers for the distribution and storage of liquid contents. The global market for plastic rigid IBCs is anticipated to grow by 1.7 times its current rate between 2022 and 2032. North America and Europe are expected to see a surge in demand for plastic rigid IBC due to the existence of various well-established end-use industries and growing trade activities.

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Key Highlights on Global Plastic Rigid IBC Market

  •          Asia-Pacific excluding Japan region (APEJ) is highly lucrative region for the growth of the global plastic rigid IBCs. Owing to increasing technological developments supported by growing industrialization in this region, the need for storage and transportation of numerous bulky goods is rising. Moreover, due to low cost of land and labour, the APEJ region is marked by growing manufacturing plants in various fields such as chemicals, food and beverages, pharmaceuticals etc. This has triggered the demand for plastic rigid IBCs in this region
  •          By material type, the HDEP segment is the largest segment reflecting a high market share as of 2017. This segment is likely to expand in the years to come and to lead the global market by material type category. In 2017, this segment reflected a market share of 63.2%, making it the largest segment. The LLDPE segment also shows positive growth and is poised to register the highest CAGR during the assessment period followed by the LDPE segment
  •          By capacity type segment, the 1000-1500 litres segment is poised to grow at a higher CAGR of 6.5% owing to increasing demand for high capacity containers. Moreover, the 500-1000 litres segment is by far the largest segment showing good hold in the market. However, the above 200 litres capacity segment is expected to show slow growth owing to high costs of transportation compared to the material being transported and hence this capacity is used on a small scale and only in critical circumstances
  •          Industrial chemicals end use segment is anticipated to be a highly potential segment in the years to come. This segment has shown a very high intake of plastic rigid IBCs since couple of years. Tis segment is highly favourable for the growth of the plastic rigid IBC market during the assessment period. Moreover, the food and beverage industry also demands for more plastic rigid intermediate bulk containers and this end user segment represents a high CAGR of 6.5% throughout the 2017-2022 assessment period

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Key Player Analysis – Plastic Rigid IBC Competitive Scenario Included

The research study on global plastic rigid IBC market has included profiles of key players. This competitive analysis section includes key facts such as SWOT analysis, developments and innovations, product portfolio as well as key financials of various companies. In this report companies like Maschiopack GmbH, Bulk Handling Australia Pty Ltd, Snyder Industries, Inc., Hoover Ferguson Group, Inc., Time Technoplast Limited, Mauser Group B.V, Schutz Container Systems Inc., and Greif, Inc., are profiled.

Plastic Rigid IBC Market Outlook by Category

By Material:

  •          HDPE
  •          LDPE
  •          LLDPE
  •          PP

By Capacity:

  •          Up to 500 Liters
  •          501-1000 Liters
  •          1001-2000 Liters
  •          Above 2000 Liters

By End Use:

  •          Industrial Chemicals
  •          Petroleum & Lubricants
  •          Paints, Inks & Dyes
  •          Food & beverages
  •          Building & Construction
  •          Pharmaceuticals
  •          Others (Waste Disposal/Recycling & Silage, etc.)

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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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Electric Vehicle Battery Market to surpass US$ 18.09 billion by the year 2032

The global electric vehicle battery market is estimated to develop at a robust CAGR of 8.5% from 2022 to 2032. The target market will reach a valuation of US$ 18.09 billion by 2032, rising from US$ 8.68 billion in 2022.

Key Takeaways:

  • Supply chain disruptions and harmful manufacturing processes are factors that may hinder the growth of the electric vehicle battery market.
  • By vehicle, the passenger car segment will generate the most demand for the market and grow at a CAGR of 9%.
  • Based on vehicle technology, the hybrid electric vehicle category accounts for a substantial portion of the market. This segment will gain traction due to its twin-powered engine and electric motor which reduces fuel consumption.
  • Asia Pacific electric vehicles battery market will prove to be highly remunerative owing to the expanding automobile sector in this region.
  • The electric vehicle battery market in Europe will grow rapidly over the assessment period due to the commissioning of several mega factories in the region.

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The market for electric vehicle batteries is strongly influenced by surging fuel prices, increasing use of lithium-ion batteries, and growing sales of hybrid/ electric vehicles. Technology advancements and an evolving automotive industry further aid the expansion of the electric vehicle battery market during the forecast period.

With numerous governments across the world promoting the use of electric or hybrid vehicles, the prospects for the electric vehicle battery market are strong over the upcoming years. Hybrid or electric vehicles make use of alternative or sustainable fuels which are necessary for environmental preservation and aid with emission control. This environmental-friendly factor prompts governments all over the globe to foster the growth of electric vehicles which, in turn, augurs well for the electric vehicle battery market.

The sustainability drives are encouraging more and more consumers to opt for electric vehicles as they are financially and environmentally friendly. Densely populated countries like India and China are leaning towards alternative fuels due to the low availability of fuel, high prices, and low per capita income. As a result, there’s a notable growth in the demand for electric vehicles which augurs well for the electric vehicles battery market.

The introduction of enhanced and powerful batteries that have a longer shelf life and exhibit better performance also spurs the growth of the electric vehicle battery market. Further, the growing awareness of the advantages of electric vehicle batteries such as low running costs, cost-effective maintenance, and no tailpipe pollution also aids the market growth. With constant product upgradation and the launch of innovative products, consumers have a wide range of choices which bodes well for the overall market growth. Other factors like high fuel prices, troubling socio-political conditions, and increasing innovations further aid the growth of the electric vehicle battery market during the projection period.

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Competitive Landscape 

LG Chem Ltd, BYD Company Limited, Panasonic Corporation, Tesla Motors, Inc., Samsung SDI Co, Ltd, and Narada Power Source Co., Ltd, among others, are some of the prominent players in the electric vehicle battery market profiled in the full version of the report.

Leading market players are focusing on product upgradation and development as well as the release of new products. These companies are adopting novel chemistry techniques and engaging in various organic and inorganic business strategies to enhance their market footprints.

Key Segments

By Battery Capacity:

  • Less than 20 kWh
  • 21-40 kWh
  • More than 41 kWh

By Vehicle Technology:

  • HEV
  • PHEV
  • BEV

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By Vehicle Type:

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Others

By Battery Type:

  • Lithium Ion
  • Lead Acid
  • Nickel Hydride
  • Others

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

More Insights into Electric Vehicle Battery Market 

In its latest report, FMI offers an unbiased analysis of the global electric vehicle battery market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of battery type, vehicle technology, vehicle type, battery capacity, and region.

According to the same reports, based on segmentation, the passenger car vehicle type segment will dominate the global marketplace. In terms of vehicle technology, hybrid electronic vehicle technology will contribute substantially to the overall market growth. Based on region, the electric vehicle battery market in Asia Pacific will assume the lead in the international space with the ownership of a sizable portion of the market share. Rising fuel prices, environmental concerns, and expanding automotive sector are responsible for the growth of the Asia Pacific electric vehicle battery market. Europe, too, will aid the global growth of the electric vehicle battery market.

About Future Market Insights (FMI) 

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Global Rigid Food Containers Market Size to Extend US$ 317.7 billion by 2033, Registering CAGR of 4.9%

The global market for rigid food packaging is anticipated to increase from the US$ 197.5 billion that has not yet been calculated in 2023 to US$ 317.7 billion in 2033, according Future Market Insights. Between 2023 and 2033, the market is projected to grow rapidly at a CAGR of 4.9%.

The global rigid food containers market is expected to experience significant growth in the coming years. This is due to a number of factors, including the increasing demand for packaging solutions that are both convenient and sustainable. Rigid food containers, which are made from materials such as plastic, glass, and metal, are widely used for the packaging of a variety of food products, including fresh produce, dairy products, and prepared meals.

One of the main drivers of the rigid food containers market is the growing demand for convenient packaging solutions. Consumers are increasingly looking for packaging that is easy to open, reclose, and store, and rigid food containers offer all of these features. In addition, the use of rigid food containers can help to extend the shelf life of food products, which is an important consideration for both manufacturers and consumers.

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The growth of the e-commerce industry is also driving the demand for rigid food containers. As more consumers opt for online shopping, there is an increasing need for packaging solutions that can protect food products during transportation. Rigid food containers are well-suited for this purpose, as they are strong and durable and can help to ensure that food products arrive at their destination in good condition.

The global rigid food containers market is highly competitive, with a large number of manufacturers offering a wide range of products.

Key Takeaways from Rigid Food Packaging Market

  • Based on material, rigid food packaging made from bagasse material is expected to cover 12.4% of the global market share in 2022.
  • The cups & tubs segment by packaging type is anticipated to expand by 4.3% CAGR during the forecast period in the rigid food packaging market.
  • Based on application, the baby food category is estimated to grow 1.3 times the current rigid food packaging market value during the forecast period.
  • The U.S. rigid food packaging market is set to generate a share of around 12.7% in 2033.
  • India is projected to cover about 5.4% of the rigid food packaging market share throughout 2023.

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Demand for ready-to-eat food products, increasing hygiene concerns, and rising consumption of canned food are set to burgeon the rigid food packaging market during the estimated time frame,” says a lead analyst at Future Market Insights.

Competition Landscape: Rigid Food Packaging Market
Amcor plc, Greif Inc., Crown Holdings, Inc., Mauser Packaging Solutions, Berry Global Inc., Silgan Holdings Inc., Sonoco Products Company, Pactiv LLC, Printpack, ITC Packaging, DS Smith plc, WestRock Company, Sealed Air Corporation, Smurfit Kappa Group plc, Huhtamaki Oyj, Genpak, LLC, and Georgia-Pacific LLC among others are few of the key players spurring the global rigid food packaging market.

Rigid Food Packaging Market Outlook by Category

By Material:

  • Plastic
  • Paper & Paperboard
  • Metal
  • Glass
  • Bagasse

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By Packaging Type:

  • Trays & Clamshell
  • Bottles & Jars
  • Cans
  • Cups & Tubs
  • Boxes & Cartons
  • Others (Bowls, Cutlery)

By Application:

  • Meat, Poultry & Seafood
  • Dairy Products
  • Bakery & Confectionary
  • Ready-to-eat Food
  • Baby Food
  • Produce Food
  • Other Foods (Spices, Sauces)

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.

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

Glass Bottles Market: Emerging Trends, Growth Drivers, and Future Outlook for Sustainable Packaging Solutions by 2033

The glass bottles market is expected to increase from US$ 40.2 billion in 2023 to US$ 70.2 billion by 2033, at a 5.7% CAGR from 2023 to 2033.

Production of glass bottles is witnessing technological advancements for offering sustainability and enhanced customization. This factor is majorly driving the glass bottles market. This applies to pharmaceutical, food & beverages, perfume & fragrance vertical, and likewise. Another advantage is that glass could be easily recycled. Also, it stays chemically inert.

Besides, the fact that the trend to look through transparency with respect to food packaging persists. The consumers prefer seeing the product through packaging before buying. This is another factor driving the glass bottles market.

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At the same time, the fact that glass is a brittle material can’t be ignored. As such, it needs to be handled with utmost care. Future Market Insights has entailed these facts with insights in its latest market study entitled ‘Glass Bottles Market’.

Key Takeaways from Glass Bottles Market

The Asia-Pacific holds the largest market share with Australia, Japan, India, and China leading from the front. This could be credited to the fact that the food and beverages industry is expanding at a good rate in these regions. Plus, countries like Chinas are more into manufacturing pharmaceuticals. South Korea is also expected to come around due to greater demand for beauty products.

The Europe and North America are expected to grow at a significant rate in the glass bottles market going forward. This is evident from the fact that Verescence’s 3 glass production sites and 4 decoration locations in North America and Europe produce 500 Mn bottles every single year. Germany accounts for almost 25% of Europe’s market share, followed by France (12%). Also, Canada, in February 2021, saw launching of the Loop/Reusable/Returnable Packaging platform in conjunction with Loblaw Inc. for rendering waste-free shopping for several household products. Heinz Ketchup (glass) bottle has been made available on the ‘Loop’ mentioned above.

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Competitive Landscape

  • Vitro, in October 2021, did announce investment close to US$ 70 Mn to construct a new-fangled ‘Container’ furnace at Vitro plant based out of Toluca (State of Mexico). The furnace would be providing extra capacity for supporting customers and their requirements regarding glass containers.
  • Verescence, in November 2021, did announce launching Verre Infini 20 (Infinite Glass) that does combine 20% PCR and glass tint for addressing upscale businesses’ visual needs. Spain and France are already making the composition. The US began this year and South Korea next year.
  • Saverglass, in November 2021, did open a multi-service warehouse spanning 430,000 square feet in Fairfield (California) with the objective of providing alcohol and wine companies quick access to a wide range of the glass bottle services.
  • Stoezle Oberglass, in February 2022, completed rebuilding and expanding its flint furnace. It’s an investment worth EUR 22 Mn aimed at making manufacturing site all the more sustainable and efficient with respect to carbon dioxide emissions and energy emissions. It claims to reach close to 270 tons of melted glass on the daily basis. 13% of energy could be saved per ton of glass.
  • Owens-Illinois, in October 2021, did announce spending US$ 178.8 Mn on its two novel facilities based out of Brazil.
  • ALPLA Group, in August 2021, did announce acquiring Wolf Plastics Group for expanding the product portfolio and expand the presence in Southeastern and Central Europe.

“With consumption of beer increasing worldwide, the global glass bottles market is slated to grow on an astonishing note in the near future”, says an analyst from Future Market Insights.

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How does the Report bottle itself?

The research study is based on grade (Type I, Type II, and Type III), by manufacturing process (tubing and blown), by capacity (up to 50 ml, 51 – 200 ml, 201 – 500 ml, 501 – 1000 ml, and 1001 ml & above. By end-user, it’s food, beverages, pharmaceuticals, personal care & cosmetics, perfume & fragrances, chemicals, and likewise.

The fact that glass stays inert irrespective of the drinks the glass bottle contains is expected to drive the glass bottles market in the forecast period.

Glass Bottles Market by Category

By Grade:

  • Type I
  • Type II
  • Type III

By Manufacturing Process:

  • Blown
  • Tubing

By Capacity:

  • Up to 50 ml
  • 51 – 200 ml
  • 201 – 500 ml
  • 501 – 1000 ml
  • 1001 ml & Above

By End User:

  • Food
  • Beverages
  • Pharmaceuticals
  • Personal Care & Cosmetics
  • Perfume & Fragrances
  • Chemicals
  • Others

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

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

Floriculture Market in US is Anticipated to Rise at a CAGR of ~6.2% in 2023 to 2033 | FMI

The floriculture market is estimated at USD ~57.5 billion in 2023, and is projected to reach USD ~106.1 billion by 2033, at a CAGR of 6.3% from 2023 to 2033.

The market for floriculture, which is mostly supported by cut flowers, will grow significantly thanks to the recent explosion in popularity of edible flowers.

Institutions/events that currently hold around 3/5 of the share in the market would remain the prominent adopters of floriculture items.

Huge potential for flowers for the purpose of decoration throughout multiple occasions would fuel the growth of the institutions/events segment during the forecast period.

Flowers are bought for a variety of purposes, including expressing love or sympathy, as well as achieving environmental and aesthetic aims. Horticulture is currently being adopted because of the necessity to incorporate green cover into workplace interior designs.

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Key Takeaways – Global Floriculture Market Study

  • Europe is expected to retain its dominant position in the global floriculture market, attributed to increasing adoption of gardening activities in the region.
  • Among product type, the cut flowers segment is considered a key contributor to growth of the global floriculture market, due to high consumption of fresh roses in decorations such as bouquets at events, vase arrangements, and as gifts on special occasions.
  • The cut foliage segment is expected to witness a significant CAGR in the global floriculture market, owing to increasing use of mix bouquets in flower arrangements at events and festivals.

Rising Environmental and Social Responsibility to Shape Market Trends

Consumers demand sustainably produced flowers, attributable to increasing consumer awareness regarding environmental and social impact of production and trade of floriculture products worldwide. Thus, all participants in the floriculture value chain aim adopt sustainable agricultural practices such as integrating pest management and conservation agriculture to reduce negative impact of their activities on the environment.

Consumers in the market are also willing to pay more for sustainably grown flowers. Thus, companies aim to obtain certifications and are offering fair trade, FPP, and other certified flowers to their consumers in order to improve their market position.

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Floriculture Market: Competitive Landscape

Prominent players in the global floriculture market are Tropiflora Ltd., Forest Produce Ltd., Selecta Cut Flowers S.A.U., Native Floral Group, Tropical Foliage Plants, Inc., Oserian Group, Esmeralda Farms, Marginpar BV, DOS GRINGOS, LLC, Flamingo Horticulture Ltd., Danziger Group, Florensis Flower Seeds UK Ltd., Verbeek Export B.V., Florance Flora, Karuturi Global Ltd., and others.

Players in the floriculture industry are focusing on Asia for production and sales of commercial floriculture products, owing to significant rise in demand for low cost flowers in this region. Companies are also entering various strategic partnerships with domestic players to expand their market footprint.

Key Segments of Floriculture Industry Survey

Floriculture Market by Product:

  • Cut Flowers
  • Cut Foliages
  • Plants
  • Propagation Materials

Floriculture Market by Flower:

  • Roses
  • Chrysanthemums
  • Tulips
  • Lilies
  • Gerberas
  • Carnations
  • Texas Bluebells
  • Freesias
  • Hydrangeas
  • Others

Floriculture Market by End Use:

  • Floriculture for Personal Use
  • Floriculture for Institutions/Events
  • Floriculture for Hotels, Resorts, & Spas
  • Floriculture for Industrial Use

Floriculture Market by Sales Channel:

  • Direct Sales of Floriculture Products
  • Floriculture Products Sold at Specialty Stores
  • Floriculture Products Sold at Franchises
  • Floriculture Products Sold at Florists & Kiosks
  • Floriculture Products Sold at Supermarkets/Hypermarkets
  • Floriculture Products Sold at Independent Small Stores
  • Floriculture Products Sold by Online Retailers
  • Others

Floriculture Market by Region:

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

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

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