Global Feed Micronutrients Market to Surpass US$ 3.52 Billion by 2033, Forecasts Future Market Insights, Inc.

The feed micronutrients market is predicted to be worth US$ 1.91 billion in 2023 and rise to US$ 3.52 billion by 2033. The global industry was expanding at a CAGR of 4.6% from 2018 to 2022.

Consumers are becoming more concerned about animal welfare and the effects of livestock production on the environment. The demand for feed micronutrients that enhance the health and welfare of animals and are produced ethically and sustainably is rising as a result.

The adoption of cutting-edge animal husbandry techniques in both developed and developing nations open up new opportunities for the industry. The global feed micronutrients industry is expected to expand as agricultural and breeding expenditures for livestock rise.

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The detrimental effects on the environment are a significant barrier to the expansion of the global feed micronutrient sector. The soil contamination brought on by the usage of metals like zinc and copper in livestock feed is included in this.

The importance of feed micronutrients for the welfare and health of animals is becoming more and more understood by farmers and producers in different regions. Products providing feed micronutrients that can help boost animal performance and reduce the risk of sickness are in higher demand.

Key Takeaways

  • By 2033, Europe’s feed micronutrients market is expected to expand at a CAGR of 6.2%.
  • The feed micronutrients market was significantly expanding, with a size of US$ 1.8 billion in 2022.
  • The market is anticipated to expand at a valuation of US$ 2.30 billion by 2026, as a result of rising animal welfare activities.
  • Due to the market’s excellent potential and rising use of zinc in the industry, analysts expect it is likely to rise 1.06 times between 2022 and 2023.
  • In the United Kingdom, the poultry livestock segment is likely to lead with a valuation of US$ 1.4 billion by 2033.
  • Based on products, trace minerals dominated the market with a 3/5th share in 2022. Moreover, the market continued to lead during the forecast period.
  • Based on livestock, the poultry segment led the market with a 1/3rd share in 2022.

Critical Approaches Increasing Top Players’ Wealth

The feed micronutrients industry is moderately consolidated, with a few multinational corporations holding the leading market shares. This includes Archer Daniels Midland Company, Kemin Industries Inc, Cargill Inc., Alltech, Zinpro Corporation, Tanke Biosciences Corp., Purina Animal Nutrition LLC, Novus International Inc., Pancosma S.A., Koninklijke DSM N.V., Biochem Zusatzstoffe Handels, QualiTech Inc.

Newcomers to the feed micronutrients market confront several obstacles. including tighter restrictions, greater manufacturing costs, and a lack of consumer awareness.

Recent Developments

  • Balancius, the first microbial muramidase, was released in September 2018 by DSM and Novozymes. It is essential for enhancing feed efficiency and digestibility in broilers. The product claims that as a result, the feed conversion ratio of grill chickens increased by 4-6 points (or 3%) overall.
  • The current feed enzyme distribution contracts between Cargill and BASF have now access to more markets and R&D resources. As the companies made an announcement of their partnership in October 2021. Through this partnership, it is easier to create, manufacture, promote, and market swine-specific enzyme goods.

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Key Segments

Feed Micronutrients by Product:

  • Feed Micronutrients as Trace Minerals
    • Iron
    • Zinc
    • Manganese
    • Copper
    • Boron
  • Feed Micronutrients as Vitamins
    • Vitamin A
    • Vitamin B
    • Vitamin C
    • Vitamin D
    • Vitamin K
    • Vitamin E
    • Carotenoids

Feed Micronutrients by Livestock:

  • Poultry
  • Ruminant
  • Swine
  • Aquaculture
  • Others

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 FMI:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Fish Oil Alternatives Market to Reach US$ 4.1 Billion by 2033 on Rising Demand from Restaurants and Hotels

The global fish oil alternatives market reached a value of USD 2.4 billion by the end of 2022 & expanding at US$ 2.5 billion in 2023. Future Market Insights (FMI) anticipates it to grow at a rate of over 5% between the years 2023 and 2033. As per this fish oil alternatives market analysis report, the overall valuation is projected to reach US$ 4.1 billion by 2033.

Increasing the acceptability of plant-based diets to lessen the burden of cardiovascular diseases is boosting the sales of fish oil alternatives. It is anticipated that global consumption of omega-3 fatty acids may rise as public knowledge of its health advantages rises.

As soybean, safflower, sunflower, cotton, and corn seeds are abundant sources of omega-3, there is an increasing demand for vegetable oils made from their seeds globally. So, the fish oil alternatives sector is anticipated to rise promisingly throughout the projected period.

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Traditionally the demand for omega-3 constituents has encouraged the use of fish oil substitutes high in omega-3 fatty acids. Moreover, the availability of omega-3 fats is no more limited to only those who strictly adhere to a plant-based diet. It is likely to be produced more for non-veg consumers as plant-based diets can lower the risk of heart disease.

Growing demand for fish oil alternatives in industrial verticals, including cosmetics, animal feed, and pharmaceuticals, is poised to develop the market. During the forecasted period, producers of fish oil alternatives are projected to have development prospects with their expanding scope of application.

Increased adoption of fish oil alternatives in home cooking is projected to strengthen the online sales channel of the market. eCommerce websites can also be regarded as having developed the market for the commodity in many new regions.

Key Takeaways from the Fish Oil Alternatives Market Study Report

  • The United States holds a greater share of the global fish oil alternatives market due to higher consumption of Omega-3. The market is yet to reach its peak as the trend of veganism is continuously increasing its sales.
  • With the increased need for pre-portioned baby food formulae, Asia Pacific could witness a greater need for oil alternatives. This is because nations like India, China, Japan, and Thailand are expected to have a higher demand for infant formula.
  • The healing qualities of fish oil alternatives are predicted to drive the pharmaceuticals segment’s growth during the forecast period.
  • With a revenue share of more than 50% in 2022, the application of fish oil alternatives in supplements and functional food ingredients is the dominant segment.

Competitive Landscape for the Fish Oil Alternatives Market Players

Burcon Nutrascience Corp., Cargill Inc., Dupont PVT Ltd., and Sotexpro are a few of the industry leaders globally. To increase their market share, these key players are investing highly in product innovation and the acquisition of regional players. Given the vast market potential, there have been new players entering the market at all points along the value chain.

Recent Developments by the Fish Oil Alternatives Industries

For instance, Algorithm, AlaskOmega, and Aenova collaborated to develop chewable vegan soft gel capsules in September 2021. This product containing microalgae-based alpha mega omega-3 DHA oil was designed to provide businesses with a competitive advantage over rivals.

Due to the environmental advantages of plant sources over fish oil, major fish oil suppliers are now switching effectively. For instance, Cargill Incorporated introduced “Latitude” in October 2018 as a sustainable alternative source of omega 3 in feeds.

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Key Segments

Product Type:

  • Chia Seed Oil
  • Soybean Oil
  • Canola Oil
  • Hemp Seed Oil
  • Algae Oil
  • Walnut Oil
  • Flaxseed Oil
  • Other Oils

Application:

  •  Food & Beverage Industry
  •  Cosmetics and Personal Care
  •  Animal Feed
  •  Pet Food Additive
  •  Pharmaceuticals
  •  Neutraceuticals

Sales Channel:

  • Offline Channel
    • Supermarkets or Hypermarkets
    • Departmental Stores
    • Convenience Store
  • Online Channel
    • Company Website
    • E-commerce Platform
    • Other Online Websites

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 FMI:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Olive Oil Market Set to Reach US$ 18.35 Billion by 2033, with 2.9% CAGR – Future Market Insights, Inc.

The global olive oil market is projected to be worth US$ 13.79 billion in 2023 and is expected to surpass US$ 18.35 billion by 2033. The market is expected to register at a CAGR of 2.9% during the forecast period.

The market is rapidly expanding, owing primarily to rising demand for olive oil in both the food service and retail sectors. Olive oil is extracted from olives that contain beneficial fatty acids such as oleic acid, palmitic acid, and linoleic acid. It’s a cooking oil with numerous nutritional advantages. Because of its widespread popularity, the market offers a wide range of olive oils.

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Increasing Knowledge of the Health Benefits of the Products to Support Market Performance

Due to their positive health effects, MUFA-containing fats and oils are becoming more popular among consumers. Consuming foods that are omega-3 enriched has recently been linked to improved cardiovascular health and other bodily processes, according to several clinical studies. Due to consumers’ growing awareness of the value of consuming essential fatty acids in maintaining good health, the high omega-3 content of olive fruit oil has fueled their demand. Due to the fact that it contains healthy fatty acids, antioxidants, and vitamins, olive fruit oil has become incredibly popular as a healthy oil all over the world.

The demand for olive fruit oil has significantly increased as ethnic Mediterranean cuisines become well-liked around the world. Its widespread inclusion in many different cuisines, including Italian, Greek, and Spanish cuisines, has also contributed to its rise in demand. Additionally, consumers’ willingness to try new flavors, textures, and exotic cuisines, as well as the growth of travel and tourism, has boosted market performance.

Artisanal and Minimally Processed Edible Oils are Becoming More Popular, which May Spur Growth

The market has grown as a result of consumers’ growing interest in raw, natural, and cold-pressed cooking oils, which are thought to be safer and healthier than their processed counterparts. According to such claims, edible oils that have undergone minimal processing and manufacturing are thought to be free of any harmful chemicals. Because there is little to no processing, the nutrients are retained, making the food healthier. Additionally, as virgin and extra-virgin olive oils undergo less processing and have a profile with a consistent fatty acid, their demand has increased lately.

Due to their pure flavor and unaltered organoleptic properties, cold-pressed virgin oils have seen an increase in demand, which further propels the market performance. Additionally, the demand for natural, minimally processed edible olive fruit oil is expected to increase in the coming years due to the growing environmental sustainability concerns around the world.

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Key Takeaways:

  • Olive oil is becoming increasingly popular as consumers seek out healthier and more natural food and beverage options.
  • Technological advancements in the production and distribution of olive oil have helped to improve the quality and consistency of the product.
  • Producers have the opportunity to expand into new markets, particularly in developing countries.
  • Sustainability is becoming an increasingly important factor for consumers and producers, and producers who can promote their sustainability practices are likely to differentiate themselves in the market.
  • Olive oil faces competition from other oils, such as palm oil and canola oil, which are often cheaper and more widely available.
  • The olive oil market is subject to fluctuations in prices and supply, which can be impacted by factors such as weather conditions and political instability.

Competitive Landscape

The global olive oil market is dominated by several regional players. Olive oil producers are targeting consumers who prefer pure and health-beneficial extra virgin olive oil. Deoleo, Cargill Inc, Borges, Almazaras de la Subbética, and California Olive Ranch are a few of the key players in the global olive oil market. Multinational players control 30-40% of the market, while domestic players control 5-10%. These businesses are involved in the olive oil industry, operate on a smaller scale, and are more export-oriented.

Recent Developments

  • Curation Foods, Inc., under the brand O Olive Oil & Vinegars, released a batch of Olio Nuovo Extra Virgin Olive Oil in February 2022, which is a seasonal oil with a fresh and robust flavor.
  • Pietro Coricelli, an Umbrian olive fruit oil producer and one of the extensive and most widely distributed olive fruit oil brands, has announced to join IBM Food Trust to trace its extra-virgin olive fruit oil using the Blockchain technology.
  • Del Monte Foods, Inc. launched one-liter olive fruit oil pouches at a competitive price in India in January 2021, making healthy edible oil more affordable.

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Given Below are the olive oil market Segments

Type:

  • Refined/Pure
  • Virgin
  • Others

End User:

  • Household/Retail
  • Foodservice/HoReCa
  • Food Manufacturing
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The 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.

Contact FMI:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Surging Demand for DSLR Cameras Boosts Padded Dividers Market, Expected to Reach at a US$ 8.1 Billion by 2032

Padded Dividers Market
Padded Dividers Market

The global padded dividers market size is expected to be worth US$ 3.1 billion in 2022 and US$ 8.1 billion in 2032 in the world. Between 2022 and 2032, it is anticipated to expand at a compound annual growth rate (CAGR) of 11.3% . Over the assessment period, padded divider sales are expected to be driven by the e-commerce sector’s rapid rise and the growing demand for high-priced products like cameras.

The increasing demand for DSLR cameras is expected to drive the global market for padded dividers, as these dividers play a crucial role in safeguarding the delicate components of cameras during transportation. By offering enhanced cushioning, they ensure that cameras are securely protected, facilitating seamless and convenient handling.

Furthermore, padded dividers are commonly integrated into durable cases used for military applications. These cases, often equipped with extendable drawers, utilize padded dividers to provide added protection for fragile military equipment and explosives during transit and storage. This growing utilization of padded dividers in military logistics is anticipated to positively impact the market’s growth trajectory.

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Market Drivers-

  1. Pharmaceutical Industry Growth : The expansion of the pharmaceutical sector demands secure packaging for fragile items, such as vials and glass containers, driving the need for padded dividers to ensure safe transportation.
  2. Electronics Manufacturing : With the electronics industry constantly evolving, padded dividers are essential for protecting delicate electronic components during shipping and storage.
  3. E-commerce Boom : The rise of e-commerce has increased the demand for protective packaging, with padded dividers being a preferred choice to safeguard products during transit.
  4. Rising Consumer Awareness : As consumers become more conscious of the need for sustainable packaging, there’s a growing demand for eco-friendly padded dividers made from recyclable materials.
  5. Customization and Branding : Companies seek unique and branded packaging solutions, and padded dividers offer opportunities for customization, enhancing the brand image and customer experience.

Global Padded Dividers industry: Key Manufacturers

  • Topper Cases
  • Pelican Products
  • B&W International
  • Nanuk
  • GWP Group
  • SKB Cases
  • Seahorse Protective Cases

Padded Dividers for Electronic Devices

When it comes to storing electronic devices, such as laptops, tablets, or portable gaming consoles, padded dividers play a vital role in safeguarding them from scratches and impacts. These dividers are lined with soft, protective materials that keep delicate screens and casings free from harm.

Protecting Fragile Glassware with Padded Dividers

Moving delicate glassware can be nerve-wracking, especially during relocations or when transporting valuable collections. Padded dividers provide a cushioned and secure environment for glassware, minimizing the risk of breakage during transit.

Global Padded Dividers industry: Regional Outlook

Among the key countries, China and India are projected to register higher growth in the global padded dividers industry. Revenue from developed countries, such as the USA and Germany, is expected to collectively account for a higher share during the forecast period. Increase in the demand for padded dividers for the transportation of fragile goods in China is expected to drive the padded dividers market.

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Key Segmentations:

By Product Type:

  • PP Padded Divider
  • HDPE Padded Divider
  • PET Padded Divider
  • Others

By Application:

  • Glass Industry
  • Military Industry
  • Pharmaceutical Industry
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Easter Europe
  • APEJ
  • Japan
  • Middle East & Africa

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries:  sales@futuremarketinsights.com
Website:  https://www.futuremarketinsights.com
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Impact of Packaging: Driving Key Trends in the Candle Box Market, Expected to Reach US$ 5.80 Billion by 2033

Candle Box Market
Candle Box Market

By 2033, the candle box market is projected to grow from its 2023 valuation of US$ 3.48 billion to US$ 5.80 billion. The market is anticipated to develop at a compound annual growth rate (CAGR) of 5.4% during the course of the projected period.

When a product is showcased in appealing packaging, it holds the potential to significantly sway the purchasing decisions of consumers, thereby impacting the trends and opportunities within the candle box market. It’s undeniable that the choice of packaging plays a pivotal role in determining the success of a product and the brand behind it.

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Consequently, the candle box industry is directly influenced by the packaging choices made by manufacturers. Investing in high-quality, innovative, and distinctive candle boxes can set products apart from competitors and elevate brand visibility. Customized candle boxes empower brands to establish a commanding presence on store shelves, consequently driving opportunities for success in the market. Additionally, the attractiveness of candle boxes extends beyond the specific product they contain, as they contribute to enhancing the overall appeal of a brand’s entire product lineup.

Top Highlights from the FMI’s Analysis of the Candle Box Market

  • Lock bottom box segment holds the lion’s share in the global market. The lock bottom box, also called the 1-2-3 bottom box, is finding increasing demand due to its capacity to hold weighty items.
  • Countries in the Asia Pacific are observing high adoption of candle boxes due to the shifting trend toward dining out, which offers the option of candle-light dinner or fragrant eating experience.
  • Australia is expected to become a significant investment market for candle boxes in the upcoming years.

Key Developments Stimulating the Market Growth 

  • In April 2023, See’s Candies, a California-based candy company, revealed its newly launched ‘Chocolate Shop’ candle. The brand welcomes customers to take the scent of their iconic crafted candle, with the fragrance of caramel, vanilla, and cacao, into their homes. Each candle is packed in a bespoke black and white candle box.
  • In May 2023, Assouline announced the debut of its candle collection. The company is capitalizing on the spectrum of fragrant stimuli that invoke fond memories of travel and associated experiences. The box packaging of these wax candles is influenced by the series’ book covers, consisting of unique designs and vibrant hues.
  • In February 2023, Le Labo, a cult-loved fragrance brand, included another captivating scent in its ever-growing candle lineup. The latest AMBROXYDE 17 candle is introduced as the ‘close cousin’ of the most famous ANOTHER 13 fragrance.

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About Future Market Insights Inc. (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:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Brand Awareness and Customer Engagement: The Role of Custom Boxes in Modern Packaging Trends | Says FMI

Custom Boxes Market
Custom Boxes Market

The global custom boxes market is estimated to capture a valuation of US$ 48.34 billion in 2023 and reach US$ 74.36 billion by 2033. The global market is anticipated to register a CAGR of 4.4% during the forecast period.

The global market is experiencing growth driven by a rising need for customized packaging solutions across diverse industries. Manufacturers are observing heightened demand for custom boxes as they seek to enhance brand visibility among consumers.

Secondary packaging strategies are being extensively modified to differentiate products or brands within the global market. Beyond aesthetic enhancements, custom boxes are being tailored to fit product dimensions, ensuring optimal protection during transportation.

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While established industry leaders have set trends with innovative custom box offerings, emerging firms are anticipated to embrace evolving directions for enhanced growth prospects. This signifies a dynamic landscape where companies strive to meet evolving consumer demands and market trends through customized packaging solutions.

Key Players Achieving Their Goals in the Global Market

The global market is highly competitive by the present essential players. Key players continuously fuel the global market through innovative skills, ideas, and strategies. These players are trying to offer better, improved, and advanced technology products to meet end users’ requirements.

These players are adopting various marketing strategies such as mergers, collaborations, product launches, and agreements to uplift the global market.

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Recent Developments in the Global Market are:

In 2020, International Paper announced the acquisition of DS Smith. This strategic acquisition strengthened the International paper company’s portfolio in custom packaging.

Custom Boxes Market by Segmentation

By Box Style:

  • Briefcase style Box
  • Five Panel Hanger Box
  • Seal End Box
  • Hexagon Box
  • Others

By Packaging:

  • Retail Box Packaging
  • Cosmetic Box Packaging
  • Food and Beverage Box Packaging
  • Others

By End-use Industry:

  • Food & Beverage
  • Healthcare
  • Cosmetic
  • Personal & Homecare
  • Others

By Sales Category:

  • B2B sales
  • B2C sales
  • Independent Vendors

By Region:

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

About Future Market Insights Inc. (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:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Rising Demand for Scented Trash Bags Fueled by Introduction of Smart Trash Cans | Says FMI

Scented Trash Bags Market
Scented Trash Bags Market

As per Future Market Insights, the global scented trash bags market is projected to reach a valuation of US$ 1.7 billion in 2022. Demand is forecast to increase at a 3.5% CAGR over the assessment period, pushing the market size to US$ 2.3 billion by 2032.

Smart trash cans provide advanced features such as self-changing, self-sealing, and automatic garbage disposal, offering convenience and efficiency to users. The pioneering TOWNEW bin from Knectek Labs Inc. exemplifies this innovation with its touchless operation, activated by a simple wave of the hand.

To enhance the user experience further, scented trash bags can be utilized in these smart bins. By incorporating automation into the garbage disposal process, the demand for scented trash bags is anticipated to surge. This symbiotic relationship between smart trash cans and scented trash bags underscores the evolving landscape of waste management solutions driven by technological advancements.

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Key Takeaways:

  • Based on material, sales in the Polyethylene segment are forecast to create an incremental opportunity of US$ 391 Million by the end of 2032.
  • By capacity, demand for up to 10 gallons scented trash bags is anticipated to remain high.
  • In terms of end user, the retail & consumer end use segment is estimated to hold 51% of the total market share by 2032.
  • The U.S. scented trash bags market is expected to create an incremental opportunity of US$ 101.5 Million over the forecast period.

Sales in the Germany scented trash market are anticipated to grow at a 2.9% CAGR over the forecast period.

“The scented trash bags market is driven by increasing focus on minimizing the risk of disease spread, along with surging demand for biodegradable waste disposal options. Leading manufacturers are emphasizing the incorporation of material-level innovation and increasing market presence through new product development,” says FMI Analyst. 

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List of Key Players Covered in Scented Trash Bags Market are:

  • The Clorox Company
  • Berry Global, Inc.
  • Reynolds Consumer Products, LLC
  • Napco National
  • Simplehuman, LLC
  • Yantai Bagease Packaging Products Co., Ltd.
  • AbbeyPolythene Ltd.
  • Sakthi Poly Products
  • Shenzhen Juyi FII Co., Ltd.
  • Easy Flux Polymers Pvt. Ltd.

Scented Trash Bags Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global market for scented trash bags market by material type (Polyethylene (PE) ((Low-density Polyethylene (LDPE), Linear Low-density Polyethylene (LLDPE), High-density Polyethylene (HDPE))), Polypropylene (PP), bioplastics), capacity (up to 10 gallons, 11-25 gallons, 26-55 gallons, above 55 gallons) and end user (retail & consumer, institutional, industrial) across seven regions.

About the Packaging Division at Future Market Insights

The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

About Future Market Insights Inc. (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:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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Automotive Belts Market Aims for US$ 21,136.4 Million by 2033 with 3.9% CAGR

The automotive belts market size is projected to surpass US$ 14,417.0 million in 2023 and is likely to attain a valuation of US$ 21,136.4 Million by 2033. The automotive belts market size is anticipated to thrive at a CAGR of 3.9% from 2023 to 2033.

Production of automobiles has increased steadily worldwide, particularly in developing economies. Automotive belts, which are crucial parts of several systems including the engine, power steering, air conditioning, and water pump, are in great demand as many vehicles are produced day by day.

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Factors including population expansion, urbanization, and rising living standards in many areas are contributing to the increase in the number of automobiles on the road. With more cars on the road, there is a great need for automotive belts for routine maintenance, repairs, and replacement.

Advanced belt materials that provide better performance, durability, and efficiency have been introduced as a result of ongoing research and development activities.  Also, in the production of belts, for instance, the use of synthetic rubber, high-strength fibers, and composite materials has increased their durability, strength, and resilience to wear and tear. The use of these modern, high-performance belts is encouraged by technological advances, which help the market expand.

A significant opportunity for the market for automotive belts is the rising popularity of electric cars. Additionally, for the electric motor systems and auxiliary systems like air conditioning and power steering, EVs need specific belts. Also, the market’s expansion is favorably impacted by the rising demand for belts especially made for electric powertrains, which is fueled by the popularity of EVs.

The automobile industry is placing a great emphasis on lightweight vehicle designs to increase fuel economy and lower carbon emissions. Moreover, lightweight automotive belts contribute to weight reduction without sacrificing performance. When used in conjunction with other lightweight components, belts have the potential to reduce the overall weight of a vehicle.

The need for lightweight automotive belts is anticipated to rise as manufacturers seek to develop light cars, which is expected to propel market expansion.

Leading Key Players:

  • Gates Corporation
  • Midas International Corporation
  • Mitsubishi Belting Ltd. Group
  • Helicord Transmissions Pvt. Ltd.
  • B&B Manufacturing
  • The Carlstar Group LLC
  • Continental AG
  • Bearings and Power Transmission Solutions
  • CRP Industries Inc.
  • BG Automotive
  • Hutchinson Group
  • Bando Chemical Industries Ltd.

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Recent Developments:

  • In October 2022, JK Fenner Americas Inc., a subsidiary of JK Fenner (India) Ltd., introduced its extensive Top Drive line of power transmission equipment in the markets of North, Central, and South America. The Top Drive brand’s introduction couldn’t have come at a better time for businesses that have dealt with supply chain delays and shortages given the global sourcing model that is just beginning to gain traction.
  • In August 2021, American manufacturer, General Motors fixed an issue by developing a revolutionary ‘Buckle-To-Drive’ feature for vehicles. This system, which is now being added to GM’s Chevrolet and GMC vehicles, stops the driver from shifting gears and keeps the car in “park” until they buckle up. Although this safety system is already in use in some areas of the United States, all GM SUVs, including the Chevrolet Silverado and GMC Sierra, are slated to come standard with it.

Automotive Belts Market Segmentation:

By Type:

  • Drive Belts
  • Timing Belts
  • Single V-Belt
  • Multifunctional V-Belt

By Vehicle Type:

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Sales Channel:

  • Original Equipment Manufacturer
  • Aftermarket

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • 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:   

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Plastic Vials Market is Expected to Grow at a 6.40% CAGR and Reach at a US$ 3.9 Billion by 2034 | FMI

Plastic Vials Market
Plastic Vials Market

The global plastic vials market  is preparing for significant growth over the next decade, with projections indicating substantial expansion. Valued at US$ 2.1 billion in 2024, the market is forecasted to grow at a compound annual growth rate (CAGR) of 6.40%, reaching US$ 3.9 billion by 2034. This anticipated trajectory reflects a robust upward trend, indicating promising opportunities for growth and development within the market landscape.

Plastic vials are small plastic containers used to store the content or to collect the samples. The plastic vials help in protecting the content from the external environment as well as keeping the content at the required temperature.

The plastic vials offer better thermal insulation compared to other vials made from other materials. Also, the plastic material is a strong material it reduces the fear of vials getting broken down. This helps in reducing the need for replacing the lost sample.

The plastic vials are made available in different capacities such as up to 2 ml, 3-5 ml, 5-7 ml, and 8 ml & above. These vials are used in various end use industries such as pharmaceuticals & healthcare, cosmetic & personal care, and others.

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The demand in the plastic vials market is expected to burgeon due to the increasing need for vials in the pharmaceutical industry. Rise in the spread of the different virus across the world will propel the demand for plastic vials in the pharmaceutical & healthcare industry.

Moreover, the plastic vials can be easily cleaned and sterilized which gains popularity among the end use industries. The plastic vials are light in weight and easy to handle which helps in reducing the transportation & extra storage cost. The expanding personal care & cosmetic industry helps in bolstering the demand for plastic vials.

Future Market Insights (FMI) opines, key players operating in the plastic vials market will witness remunerative growth opportunities due to the innovation & customization offered by manufacturers of plastic vials.

Key Takeaways from Plastic Vials Market

  1. By material, high-density polyethylene (HDPE) plastic vials segment is estimated to expand at a CAGR of 5.1% during 2022-2032
  2. The pharmaceuticals & healthcare segment is projected to hold significant share in the plastic vials market due to high demand for plastic vials in hospitals & laboratories.
  3. Based on end-use, pharmaceuticals & healthcare industry is anticipated to hold around 81% of the market share by the end of 2032.
  4. North America and Europe are estimated to remain the most lucrative market for the plastic vials market due to the presence of various pharmaceutical & healthcare companies

“ Rising need to maintain and keep the content at the right and required temperature among pharmaceutical, personal care & cosmetic, and chemical industries will augment the sales of plastic vials.” –says  FMI Analyst

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 Expansion of Pharmaceuticals & Healthcare Sector to Bolster Plastic Vials Sales

The development of various drugs and medications among various global pharmaceuticals & healthcare companies supplement the sales of plastic vials. Expansion of pharmaceutical & healthcare sector is driving the demand for plastic vials across the globe.

Increasing patient pool in hospitals due to different illnesses and health problems is also expected to bolster the demand for plastic vials. Subsequently, growing production of pharmaceutical drugs and products will push the sales of plastic vials.

Plastic Vials Market by Category

By Materials:

  • Polypropylene (PP)
  • High-density Polyethylene (HDPE)
  • Polyethylene Terephthalate (PET)
  • Other (Polystyrene)

By Capacity:

  • Up to 2 ML
  • 3-5 ML
  • 6-7 ML
  • 8 ML & Above

By End Use:

  • Pharmaceuticals & Healthcare
  • Cosmetics & Personal care
  • Chemicals

By Region:

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

Plastic Vials Market Landscape

Gerresheimer AG, Berry Global Inc., Wheaton (DWK Life Science Inc.), Thornton Plastics, Schott AG, and Sigma-Aldrich Co. LLC are some of the key players operating in the plastic vials market. Also, some of the noticeable players in the plastic vials market include Suncity Plastic Vial Factory, Althor Products, LLC, Containers Plus, Genius Style (India) Pvt. Ltd., and others. The players in tier 1 hold around 10-15% of the global plastic vials market.

About Future Market Insights Inc. (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:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries:  sales@futuremarketinsights.com
Website:  https://www.futuremarketinsights.com
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Sustainable Evolution: The Push Towards Eco-Friendly Packaging in the Soap Box Market | Says FMI

Soap Boxes Market
Soap Boxes Market

From 2023 to 2033, the soap boxes market is projected to grow at a consistent CAGR of 5.4%. According to forecasts, the soap box demand to advance from US$ 40.16 billion in 2023 to US$ 67.95 billion in 2033.

Soap box manufacturers are adopting innovative strategies to meet evolving consumer demands for unique and sustainable products. Key players in the industry are introducing novel solutions such as deodorant soaps and fragrance-free, clear soap scrubs to attract clients. Moreover, there is a concerted effort to incorporate organic and vegan ingredients, aligning with growing consumer preferences for natural and ethical products.

Additionally, businesses are actively working on implementing eco-friendly packaging solutions, transitioning away from plastic towards materials like recycled plastic, paper, and metal. These initiatives underscore a collective commitment to sustainability, as the industry strives to reduce its environmental footprint and offer more planet-friendly options to consumers.

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Driving Forces Shaping the Soap Boxes Market: Sustainability, Online Retail, and Customization

Several key factors escalate the soap boxes market. The increasing global population and awareness of personal hygiene push the demand for soap boxes.

The growing consumer preference for eco-friendly and sustainable packaging solutions fuels the adoption of recyclable and biodegradable soap boxes. The expanding online retail sector provides a convenient platform for consumers to access soap products, contributing to market growth.

Innovative packaging designs and customization options offered by manufacturers attract customers. Gifting personalized soap boxes also contributes to market expansion, serving as unique and thoughtful gifts for various occasions.

Challenges and Restraints Impacting the Soap Boxes Market

The fluctuating raw material prices can increase manufacturers’ production costs, affecting pricing and profit margins. Stringent government regulations on packaging materials and waste disposal create challenges for compliance, particularly in regions with strict environmental standards.

Competition from alternative packaging solutions, such as refill stations and package-free options, can divert consumer preferences away from traditional soap boxes. The economic slowdown in some regions and shifts in consumer buying behavior may dampen overall demand. Addressing these challenges may be crucial for sustained soap boxes market growth.

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Regional Outlook

There is expected to be an increase in the use of washing and bathing surfactant products for hygiene purposes in the North American region. This growth can be attributed to the increase in coronavirus-infected patients in the United States during the first half of 2020.

Asia Pacific is projected to hold a sizable market share for soap boxes due to densely populated countries like China and India in the region. Increased literacy in the area is also anticipated to raise people’s understanding of the importance of hygiene, which may enhance soap box demand. The demand for soap boxes is increasing due to growing urbanization and lifestyle changes.

South American, Middle Eastern and African markets are emerging regions. The demand for hygiene products in these regions is probably driven by the rise in hygiene programs, such as hand hygiene, by organizations like the World Health Organization (WHO).

Key Takeaways 

  • The non-degradable category is anticipated to dominate the market by 2033 with a CAGR of 2.7%.
  • The material type segment for kraft paperboard packaging is anticipated to profit from the strong upward growth trajectory of paper recycling throughout the expected time frame.
  • The amount of retail sales conducted online is rapidly rising. E-commerce trade is expected to grow in Europe at a 20% annual growth rate.

Competitive Landscape

The competition in the soap box market is intense and dynamic. Numerous packaging companies established players, and emerging startups vie for market share. Factors influencing competition include product quality, pricing, design innovation, sustainability features, and customization capabilities.

Soap box manufacturers continuously seek ways to differentiate their offerings to attract consumers and secure partnerships with soap producers. Companies must stay agile and responsive to consumer trends as the market evolves to maintain a competitive edge.

Novel Developments

McLaren has invested £350,000 in Blue Box Design

McLaren Packaging has invested £350,000 in Blue Box Design, a company based in Stirling that produces high-end, rigid presentation boxes for the food and beverage industry. To increase revenue to £20 million and add 15 new employees by 2020, this builds on past investments at their Port Glasgow locations, which included solar panels for clean energy.

About Future Market Insights Inc. (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:      

Nandini Singh Sawlani 

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