Global Joint Reconstruction Devices Industry is expected to grow at a 4.8% CAGR to reach US$ 41.5 Billion by 2032 | A Change in Healthcare Paradigms

The Global Joint Reconstruction Devices Industry is expected to grow from US$ 26 billion to US$ 41.5 billion by 2032, marking a significant transformation. This significant increase is supported by a consistent compound annual growth rate (CAGR) of 4.8% expected between 2022 and 2032. Global Joint Reconstruction Devices Market Size, Share, and Growth Trends Analysis

Joint reconstruction is a multifaceted domain, encompassing an array of treatments ranging from physiotherapy to surgical interventions and advanced pain management strategies. While physiotherapy remains a primary choice for many, surgical procedures emerge as the preferred course of action for those seeking lasting solutions. Notably, minimally invasive surgeries are gaining momentum, offering convenience for both surgeons and patients, coupled with reduced hospital stay durations and quicker turnaround times.

In the landscape of joint reconstruction, artificial implants take center stage due to their simplicity of installation. Arthroscopes are revolutionizing the field by facilitating outpatient surgeries and providing patients with enhanced convenience. Moreover, the integration of advanced tools, including image magnifiers and pre-operative planning systems, is further propelling the evolution of joint reconstruction procedures.

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Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Joint Reconstruction Devices’ through its dedicated team of analysts and consultants. The bottom-up approach is bound to go a long way regarding the rapport with clientele. Also, micros and macros have been efficiently worked upon.

Key Takeaways from the Global Joint Reconstruction Devices Industry

  • North America holds more than 30% of the market share. This could be credited to the US housing a huge number of industry players.
  • Europe stands second on the similar grounds and the status quo is expected to remain unchanged even going forward.
  • The Asia-Pacific is expected to grow at the fastest rate. This could be attributed to FDI being approved by the governments of India and China. Japan is another country leading from the front.
  • With increase in the number of distribution partners, Mexico and Brazil are expected to dominate the joint reconstruction devices industry for LATAM.

Global Joint Reconstruction Devices Industry Competitive Devices

  • Smith + Nephew, in February 2022, did announce launching next generation handheld robotics platform called ‘CORI Surgical System’ at the commercial scale. It stands out from its counterparts concerning compactness. Minimal set-up time along with portability implies that it could be moved from one theater to the other for optimizing patients’ flow via surgical units.
  • Zimmer Biomet Holdings, Inc., in December 2020, did announce that it had completed acquisition of A&E Medical Corporation and its entire portfolio comprising sternal closure devices. They included cable systems, sternal sutures, and rigid fixation.
  • DePuy Synthes, in March 2022, did acquire CUPTIMIZE Hip-Spine Analysis – a tool floated with the objective of better understanding and addressing effect of abnormal motion between pelvis and spine in certain patients who need THA (total hip arthroplasty). It improvises on surgical planning capabilities related to VELYS Hip Navigation (a solution from DePuy Synthes’ VELYS Digital Surgery platform for connected technologies).
  • LimaCorporate, in October 2022, did receive approval from the US FDA for a new-fangled shoulder platform emphasized on glenoid baseplate. Humeral stem is 3D-printed in its entirety. This dental implant system, using patented TT (Trabecular Titanium) technology, does aim to obtain robust primary fixation with successful growth of secondary bone.
  • Smith + nephew PLC, in September 2022, launched OR3O dual mobility system for usage in revision and primary arthroplasty in Japan.

“With success concerning rheumatoid arthritis and osteoarthritis, the global market is bound to grow inadvertently shortly”, says an analyst from Future Market Insights.

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How does the Report reconstruct itself?

  • The research study is based on technology (joint reconstruction devices for joint replacement, joint reconstruction devices for osteotomy, joint reconstruction devices for arthroscopy, joint reconstruction devices for resurfacing, joint reconstruction devices for arthrodesis, and joint reconstruction devices for other technologies), and by type (knee joint reconstruction devices, hip joint reconstruction devices, shoulder joint reconstruction devices, ankle joint reconstruction devices, and other joint reconstruction devices).
  • With growing occurrences of orthopedic diseases coupled with an increasing geriatric population, the global joint reconstruction devices market is expected to witness a noteworthy CAGR shortly.

Key Segments Covered In The Global Joint Reconstruction Devices Industry Survey

Global Joint Reconstruction Devices Industry by Technology:

  • Joint Reconstruction Devices for Joint Replacement
  • Joint Reconstruction Devices for Osteotomy
  • Joint Reconstruction Devices for Arthroscopy
  • Joint Reconstruction Devices for Resurfacing
  • Joint Reconstruction Devices for Arthrodesis
  • Joint Reconstruction Devices for Other Technologies

Global Joint Reconstruction Devices Industry by Type:

  • Knee Joint Reconstruction Devices
  • Hip Joint Reconstruction Devices
  • Shoulder Joint Reconstruction Devices
  • Ankle Joint Reconstruction Devices
  • Other Joint Reconstruction Devices

Global Joint Reconstruction Devices Industry by Region:

  • North America Joint Reconstruction Devices Market
  • Latin America Joint Reconstruction Devices Industry
  • Europe Joint Reconstruction Devices Market
  • Asia Pacific Joint Reconstruction Devices Industry
  • Middle East & Africa Joint Reconstruction Devices Industry

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Author

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

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

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

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com

Tableware Market Set to Soar: Global Valuation Projected to Reach US$ 81.8 Billion by 2033, Driven by Rising Demand for Ceramic Dinnerware and Changing Lifestyles

The global tableware market is poised for significant growth, with an estimated valuation of US$ 47 billion in 2023, projected to progress at a remarkable Compound Annual Growth Rate (CAGR) of 14% from 2023 to 2033. According to the latest market analysis report by FMI, the overall market value is expected to exceed US$ 81.8 billion by the end of the forecast period.

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Key Market Insights:

  1. Dominance of Ceramic Segment: The ceramic segment is anticipated to hold a significant share of the global tableware market, driven by increasing demand for ceramic dinnerware for household use. Moreover, hotels and restaurants are increasingly opting for ceramic ware to add a unique and personal touch to their dining experiences. Changing lifestyles, rising disposable income, and the introduction of low-cost ceramic ware are expected to further fuel market growth.
  2. Diverse Usage of Tableware: Tableware, including cutlery, glassware, serving dishes, containers, spoons, forks, and various accessories, is extensively used for both practical and decorative purposes. Cultural diversity, diverse food chains, and the number of diners influence the demand for quality tableware, with items such as knives, forks, spoons, and silverware making up a significant portion of the market.
  3. Impact of Changing Purchasing Behavior: The expansion of the residential sector and urbanization have led to a shift in purchasing behavior, with an increasing adoption of Western culture, particularly in metro areas. This trend is expected to propel the demand for tableware over the forecast period.
  4. Growth Opportunities in Tourism Sector: The rapidly expanding tourism industry, supported by efforts to strengthen economies worldwide, is driving the establishment of accommodation businesses. This, in turn, is expected to boost sales of tableware as hospitality establishments seek to enhance dining experiences for guests.

Key Trends and Growth Factors:

  • Improving Economic Conditions: High spending power, particularly in emerging economies, is contributing to the growth of the tableware market.
  • Future Opportunities in Eco-friendly Materials: The development of biodegradable materials with sufficient strength for producing eco-friendly tableware presents significant growth opportunities.
  • Market Trends in Online Sales Channels: Both existing and emerging local players are increasing their presence on online sales channels, leveraging digital platforms to reach a wider consumer base and drive sales.

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Industry Trends:

  1. Health and Safety Focus:
    • Increasing demand for tableware with antimicrobial properties and easy-to-clean surfaces, aligning with heightened awareness of hygiene and safety concerns.
  2. Minimalistic and Functional Designs:
    • Preference for minimalist and multifunctional tableware designs that reflect contemporary aesthetics and suit modern living spaces.
  3. Digital Integration:
    • Integration of technology in tableware products, such as smart plates or utensils that monitor food consumption or temperature, aligning with the broader trend of smart home innovations.
  4. Global Influences on Design:
    • Growing influence of global cultures on tableware design, leading to a diverse range of patterns, colors, and shapes that reflect a fusion of traditional and modern elements.
  5. Rise of Artisanal and Handcrafted Products:
    • Increasing popularity of artisanal and handcrafted tableware, driven by consumer appreciation for unique, locally sourced, and expertly crafted items.

Market Innovation: 

Innovation within the Tableware Market has undergone a remarkable transformation, elevating dining experiences through a convergence of design aesthetics, functionality, and sustainability. Noteworthy advancements include the integration of eco-friendly materials, such as recycled and biodegradable options, reflecting a heightened environmental consciousness among consumers. Smart tableware innovations, incorporating temperature-regulating features and augmented reality elements, add a tech-infused dimension to traditional dining setups, enhancing user engagement.

Customization has taken center stage, with collaborations between manufacturers and artists leading to unique, limited-edition pieces, allowing consumers to express individuality in their dining spaces. Furthermore, space-saving modular designs cater to urban living, emphasizing efficiency without compromising on style.

Hygienic innovations, featuring anti-bacterial materials, address contemporary concerns, ensuring a clean and safe dining experience. Collectively, these innovations propel the Tableware Market into a dynamic realm, where creativity meets functionality to meet the evolving demands of modern consumers.

Key Companies Profiled              

  1. Lenox Corporation
  2. Abert SpA
  3. Anhui Deli Household Glass Co., Ltd.
  4. Meyer Corporation Group
  5. Saint-Louis
  6. Steelite International plc
  7. Raynaud Limoges
  8. ARC International SA
  9. Villeroy & Boch AG
  10. Noritake Co., Limited
  11. Lifetime Brands, Inc.
  12. La Opala RG Limited
  13. Stölzle-Oberglas GmbH
  14. The Oneida Group, Inc.
  15. Dankotuwa Porcelain PLC

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Global Tableware Market by Category

By Material:
Glass
Ceramic
Metal
Others (Plastic, Fiber, Wood, etc.)

By Distribution Channel:
Online
Offline

By Product:
Plates
Bowls
Cups
Trays

Author

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

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

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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Blow Fill Seal Technology Market Set to Boom: Value Projected to Reach US$ 6,206.5 Million by 2033, Driven by Increasing Demand from Pharmaceutical Industry

Blow Fill Seal Technology Market

The global blow fill seal technology market is projected to witness substantial growth, with an estimated valuation of US$ 6,206.5 million by 2033, representing a robust Compound Annual Growth Rate (CAGR) of 6.8% over the forecast period. This growth is driven by the expanding pharmaceutical and food & beverage sectors, which have spurred innovation in packaging solutions, particularly through the incorporation of blow fill seal (BFS) technology.

Key Market Insights:

  1. Dominance of Pharmaceutical Industry: The pharmaceutical industry significantly consumes blow fill seal technology, expected to hold more than 97% market share in terms of value by the end of 2023. This dominance is attributed to the need for precise and contamination-free packaging solutions to facilitate accurate drug delivery.
  2. Plastic Usage and Product Type Trends: Plastic accounts for a significant share in blow fill seal technology, with ampoules anticipated to gain one-fifth of the market share by 2033. The plastic segment is expected to expand at a CAGR of above 6.9% over the forecast period, driven by its versatility and suitability for various packaging applications.
  3. End User Preferences: BFS technology is favored by numerous end users due to its contamination-free packaging capabilities and enhanced processing speed. North America and Western Europe pharmaceutical industries, in particular, adopt blow fill seal tech for flexible filling to meet the demand for diverse biotech drugs and manufacturing formats.

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Growth Drivers:

  1. Expansion of Pharmaceutical and Food & Beverage Sectors: The expansion of these industries has fueled demand for precise and improved packaging solutions, driving the adoption of BFS technology globally.
  2. Need for Accurate Drug Filling: The growing need for accurate drug filling and safe packaging is fueling the widespread adoption of BFS technology, particularly in the pharmaceutical sector.
  3. Innovative Product Offerings: Manufacturers are launching new products and technologies, such as pre-sterilized components molding techniques, to meet the demand for versatile designs of injectable products and ensure high sterility, flexibility, and cost-effectiveness

Future Growth Opportunities:

  1. Expanded Applications in Pharmaceuticals: The BFS technology offers vast potential for expanding its applications in the pharmaceutical industry, particularly in the production of unit-dose packaging for liquid medicines and vaccines. With increasing demand for sterile and convenient packaging solutions, BFS is poised to revolutionize pharmaceutical packaging processes.
  2. Emergence in Nutraceuticals and Biologics: As consumers prioritize health and wellness, the demand for nutraceuticals and biologics continues to surge. BFS technology presents a lucrative opportunity for manufacturers to streamline production processes and ensure product integrity in these rapidly growing sectors.
  3. Customization and Personalization: Consumer preferences are evolving towards personalized products and packaging. BFS technology enables customizable packaging solutions, allowing manufacturers to cater to diverse consumer needs and preferences, thereby driving product differentiation and brand loyalty.
  4. Sustainable Packaging Solutions: Environmental sustainability is a key driver shaping packaging industry trends. BFS technology facilitates the production of lightweight and eco-friendly packaging materials, minimizing carbon footprint and contributing to sustainable practices across various industries.
  5. Global Expansion and Market Penetration: With increasing globalization and market integration, BFS technology presents significant opportunities for global expansion and market penetration. Emerging markets, particularly in Asia-Pacific and Latin America, offer untapped potential for BFS technology adoption, fueled by rising disposable incomes and growing healthcare expenditures.

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Industry Trends:

  1. Advancements in Material Sciences: Continuous advancements in material sciences are driving innovations in BFS technology, enabling the development of novel materials with enhanced barrier properties, durability, and compatibility with a wide range of formulations.
  2. Automation and Robotics Integration: Automation and robotics integration are revolutionizing BFS manufacturing processes, enhancing efficiency, precision, and scalability while minimizing human intervention and operational errors.
  3. Regulatory Compliance and Quality Standards: Stringent regulatory compliance and quality standards continue to shape the BFS industry landscape, emphasizing the importance of adherence to Good Manufacturing Practices (GMP) and compliance with international regulatory frameworks to ensure product safety and efficacy.
  4. Digitalization and Data Analytics: The integration of digitalization and data analytics is transforming BFS manufacturing operations, enabling real-time monitoring, predictive maintenance, and process optimization to enhance productivity and reduce production costs.
  5. Collaborative Partnerships and Strategic Alliances: Collaborative partnerships and strategic alliances between BFS technology providers, pharmaceutical companies, and packaging manufacturers are fostering innovation and driving the development of integrated solutions tailored to meet evolving market demands.

As a leading provider of Blow Fill Seal Technology, we are committed to driving innovation, sustainability, and excellence in the packaging industry. We remain dedicated to harnessing these growth opportunities and industry trends to deliver value-added solutions that empower our customers and drive sustainable growth.

Key Takeaways:

  • The BFS technology industry is to exhibit 5.4% Y-o-Y growth in 2021
  • The U.S. will emerge as a highly lucrative destination, accounting for over 84% of the North American market
  • The U.K. is set to exhibit 8% Y-o-Y growth in 2021
  • France and Germany will emerge as highly lucrative markets for BFS technology in Europe
  • Japan and South Korea will continue exhibiting high demand

“Blow fill seal technology has been witnessing high demand from pharmaceutical companies in Latin America and the Asia Pacific. Unit dosage packaging, such as prefilled syringes are in high demand, which in turn is spurring the demand for blow fill seal technology in these regions” says an FMI analyst.

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Blow Fill Seal Technology Industry by Category

By Product Type:

  • Bottles
  •          0.2-100 ml
  •          100-500 ml
  •          Above 500 ml
  •          0.1-10 ml
  •          10-100 ml
  •          0.1-10 ml
  •          10-50 ml
  • Ampules
  • Vials
  • Others(prefilled syringes & Injectables)

By Material Type:

  • PE
  •          LDPE
  •          HDPE
  • PP
  • Others

By End Use:

  • Pharmaceuticals
  •          Ophthalmic
  •          Injectables
  •          Biologics
  •          Wound Care
  •          Respiratory
  • Food & Beverage
  • Cosmetics & Personal Care
  • Others

By Region:

  • North America
  • Latin America
  • Asia Pacific Excluding Japan
  • Eastern Europe
  • Western Europe
  • Japan
  • Middle East and Africa (MEA)

Author:   

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

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

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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Glass Container Market Set to Skyrocket: Valuation Projected to Reach US$ 102.5 Billion by 2033, Driven by Surging Demand from Food and Beverage, Pharmaceutical, and Cosmetic Industries

The global glass container market is poised for substantial growth, with a projected valuation of US$ 102.5 billion by 2033, exhibiting a robust Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period. This growth is driven by various factors, including rising disposable income, urbanization, and consumers’ preference for aesthetics, as well as increasing demand for transparency in packaging food and beverage items.

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Key Drivers of Market Growth:

  1. Rising Disposable Income and Urbanization: Increasing disposable income and urbanization are driving consumer preferences towards aesthetically pleasing packaging solutions. Glass containers offer a luxurious look and are increasingly preferred by consumers seeking eye-catching surroundings.
  2. Demand for Home Decor and Luxury Looks: The growing demand for home decor and luxury looks is further fueling the adoption of glass containers. Consumers are increasingly gravitating towards light-glittering bottles and candle jars, contributing to market growth.
  3. Preservation of Food Items: Consumers’ demand for glass containers to preserve food items such as pickles, sauces, and other ingredients is enhancing the quality and freshness of packaged goods, driving market growth in the food and beverage sector.
  4. Transparency in Packaging: Food and beverage manufacturers are increasingly adopting glass containers to provide transparency in packaging, meeting consumer preferences for visible product quality and freshness.
  5. Growing Trends in Design Containers: The market is witnessing a surge in demand for various design containers, driven by rising key marketers and consumer preferences for unique and innovative packaging solutions.
  6. Adoption by Dairy Industry: Dairy owners are increasingly adopting glass container bottles to sell milk and related products, leveraging the material’s properties to enhance product appeal and freshness.
  7. Investment and Research & Development: The rising number of investments in research and development activities, coupled with the availability of cheap labor, is driving market opportunities, leading to product innovations and advancements.

As the global glass container market continues to expand, it presents unparalleled opportunities for stakeholders across the value chain. From manufacturers to retailers, the emphasis on quality, aesthetics, and sustainability is reshaping the packaging landscape.

Industry Trends:

  1. Premiumization: Consumers are increasingly willing to pay a premium for high-quality products and packaging. The glass container market is witnessing a trend towards premiumization, with brands investing in luxurious packaging designs and premium materials to enhance perceived value. Capitalizing on this trend requires a focus on craftsmanship, aesthetics, and brand storytelling to create memorable consumer experiences.
  2. Digitalization and Smart Packaging: The integration of digital technology into packaging solutions is reshaping the glass container market. Smart packaging innovations, such as QR codes, NFC tags, and augmented reality experiences, offer brands new opportunities for consumer engagement and product traceability. Embracing digitalization trends can enable brands to build interactive brand experiences and gather valuable consumer insights.
  3. Globalization and Market Expansion: The glass container market is experiencing globalization, driven by expanding consumer markets and growing demand for premium products worldwide. International expansion presents opportunities for glass container manufacturers to diversify their customer base and tap into emerging markets. Strategic partnerships and distribution networks can facilitate market entry and drive growth in new geographic regions.
  4. Sustainability and Circular Economy Initiatives: Environmental sustainability is a key focus area for the glass container market, with industry players embracing circular economy principles and eco-friendly practices.
  5. E-commerce Expansion: The proliferation of e-commerce platforms has transformed the retail landscape, presenting new avenues for growth in the glass container market. Optimizing packaging designs for e-commerce shipments, such as lightweight yet durable options, can streamline logistics and reduce shipping costs. Embracing digital marketing strategies and online retail channels can expand market reach and drive sales in the e-commerce sector.

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Key Takeaways:

By product type, lightweight bottles will be highly preferred by industries and customers alike, owing to the change in behaviour pattern in consumers and rising environmental concerns

  • As glass is chemically inert, demand for pure, green and sustainable packaging is driving sales of glass containers.
  • US to be a lucrative market, owing to its increase in alcohol, malt beverage and juice consumption by its people.
  • Germany is expected to remain one of the highly valuable market for glass containers, because the distribution of alcohol consumption is heavily concentrated in the country.
  • France to show a significant rise in sales due to the demand of luxury packaging items for cosmetics industry.
  • UK to show a steady Y-o-Y growth as glass accounts for a major share of soft drink packaging.

Glass containers industry: prominent drivers

  • Increase in the rise of the beverage and luxury items industry, which is steering the growth of glass containers market.
  • Rising healthcare spending will create lucrative opportunities and provide a significant ground for the proliferation of glass manufacturers across key regions.
  • Glass bottles are estimated to dominate the market, according to product type, due to the packaging demand from the beverage industry.
  • Amber glass containers are expected to gain popularity due to its protection against the UV rays
  • Vendors are focusing on environmental sustainability concerns, which will increase the demand of lightweight packaging, thereby minimizing the use of raw materials and the expense of logistics.

Key restraints:

  • Reluctance of the consumers to dine out due to the pandemic fear still continues to pose as a problem in the industry’s growth from the food and beverage section.
  • Glass, being brittle in nature, faces the risk of getting broken during the shipment of these items, which makes it unfavourable to be transported over long distances, as compared to the plastic containers.
  • Glass is also more dangerous when broken as compared to other packaging material. Broken glass can cut a person’s skin and can at times, also be life-threatening. This is a danger that is very true for those working in factories, shops and even transportation and packaging operative who are responsible in handling them.

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Segmentation by Category:

By Product Type:

  • Glass Bottle
  • Glass Jar
  • Glass Vial
  • Candle Glass Container

By Color:

  • Amber Glass Container
  • Blue Glass Container
  • Clear Glass Container
  • Frosted Glass Container
  • Other Colored Glass Container

By End-use Industry:

  • Cosmetic & Perfumes
  • Pharmaceuticals
  • Food Packaging
  • Beverage Packaging
  • Other Products

By Region:

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

Author

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

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

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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Continuous Thread Metal Cap Market Set for Strong Growth; Global Valuation Projected to Reach US$ 5.2 Billion by 2033

The global continuous thread metal cap market is poised for significant growth, with a projected valuation of US$ 5.2 billion by 2033, exhibiting a robust Compound Annual Growth Rate (CAGR) of 8.74% from 2023 to 2033. This growth is fueled by design innovations and the launch of value-added offerings by key players, along with increasing regulations on the safety and effectiveness of food and beverage products and pharmaceutical formulations.

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Key Drivers of Market Growth:

  1. Design Innovations and Value-added Offerings: Key players in the continuous thread metal cap market are driving growth through design innovations and the introduction of value-added offerings. These include threaded, tamperproof, airtight, dispensing-friendly metal caps and closures, catering to the stringent safety and effectiveness regulations in the food and beverage and pharmaceutical industries.
  2. Functionalities and Additional Features: The launch of metal caps and closures with additional functionalities such as open ability, resealing ability, and flavor incorporation is driving preference toward thread metal caps in the packaging industry. Consumer demand for aesthetically pleasing alcoholic beverages with novel taste sensations is also contributing to market growth.
  3. Protection and Shelf Life Extension: Metal caps and closures act as a barrier, protecting packaged contents from exposure to ambient air, light, and dust particles, thus extending the product’s shelf life. Tight seals are crucial for food and beverage packaging, enhancing protection against microbial attacks.

Regional Outlook:

  1. North America: Expected to dominate the continuous thread metal closure market, North America is projected to accumulate 38% market share by the end of the forecast period. The region’s food and beverage sector, along with increasing health consciousness among consumers, is driving demand for metal caps and closures. Growing consumption of both alcoholic and non-alcoholic beverages further contributes to market growth.
  2. India: The Indian beverage packaging market is experiencing robust growth, with increasing demand for sustainable packaging solutions. The beverage industry, including carbonated soft drinks, bottled water, fruit drinks, and flavored milk, is a significant user of thread metal caps in the region, driven by the growing need for convenience and sustainability.
  3. Asia-Pacific: Growing consumption of wine in countries like Japan and China has led to increased usage of different metallic caps, fueling product demand. Various types of metallic caps, including ROPP metal caps and screw metal caps, are witnessing high demand in the Asia-Pacific region.

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Future Growth Opportunites: 

  1. Sustainability-driven Caps: With increasing consumer awareness about environmental issues, there’s a growing demand for sustainable packaging solutions. Continuous thread metal caps made from recyclable materials or with minimal environmental impact are gaining traction.
  2. Customization and Branding: Companies are leveraging continuous thread metal caps as a branding opportunity. Customized designs, colors, and finishes are in demand, allowing brands to differentiate themselves on the shelves and establish stronger brand recognition.
  3. Health and Safety Features: With health and safety concerns at the forefront, there’s a rising demand for continuous thread metal caps with innovative safety features such as tamper-evident seals or child-resistant closures. These features enhance consumer trust and compliance with regulatory standards.
  4. E-commerce Packaging Solutions: The surge in e-commerce has led to a need for robust packaging solutions. Continuous thread metal caps, known for their durability and secure sealing, are increasingly preferred for products sold online, ensuring safe transit and minimizing the risk of leakage or damage during shipping.
  5. Technological Advancements: Incorporation of advanced technologies such as RFID (Radio-Frequency Identification) tags or NFC (Near Field Communication) for inventory management and authentication purposes is a growing trend in the continuous thread metal cap market. These technologies enhance supply chain visibility and offer anti-counterfeiting measures, addressing concerns related to product authenticity and traceability.

Competitive Landscape Analysis

The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Continuous Thread Metal Cap Market market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.

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Key Players

  • Crown Holdings Inc.
  • O.Berk Company
  • Reynolds Packaging Group Ltd
  • Pelliconi & C. SpA
  • Sks Bottle & Packaging Inc.
  • Berlin Packaging
  • Tecnocap S.p.A
  • Berry Global
  • Guala Closures S.p.A
  • Closure Systems International

Continuous Thread Metal Cap Segmentation

Application Type:

  • Beverages
  • Alcoholic Beverages
  • Non-Alcoholic Beverages
  • Chemicals
  • Cosmetics
  • Pharmaceutical
  • Others

Material:

  • Aluminium
  • Tin-plated
  • Steel

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

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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Polycoated Paper Packaging Market Set for Robust Growth; Global Demand Projected to Increase Significantly During 2021-2031

The global poly-coated paper packaging market is forecasted to experience substantial growth from 2021 to 2031, propelled by increasing demand across various industries such as food and beverages, building and construction, chemicals, cosmetics, and automotive. This growth is not only evident in developed regions but also in developing countries, with the Asia Pacific region emerging as a particularly opportunistic market due to ongoing industrial developments and rising consumer consumption.

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Key Drivers of Market Growth:

  1. Versatile Properties of Polycoated Paper Packaging: The surge in demand for polycoated paper packaging can be attributed to its myriad properties, including hygiene enhancement, extended preservation times, and heat sealing capability. Additionally, the material offers grease, aroma, gas, and moisture barrier properties, making it suitable for diverse applications across industries.
  2. Specialized Design and Durability: Polycoated paper packaging features a unique design, often characterized by a shiny or waxy coating on one or both sides, enhancing its durability and versatility. This makes it a preferred choice for industries such as food service, packaging, steel production, and shipping.
  3. Environmental Considerations: In response to growing concerns about the environmental impact of plastic packaging, there is increasing demand for environmentally friendly alternatives such as polycoated paper packaging. As awareness of environmental issues and waste management grows, the demand for sustainable packaging materials continues to rise worldwide.

Market Outlook for North America:

  • United States: The North American market, particularly in the United States, presents significant growth opportunities for polycoated paper packaging, driven by the culture of packaged food consumption and the growth of the paper and packaging industry. The food and beverages sector in the US is a major consumer of polycoated paper packaging, further boosting market demand.

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Future Growth Opportunites: 

  1. Sustainable Packaging Solutions: With growing environmental concerns, there’s a rising demand for polycoated paper packaging solutions that are eco-friendly and biodegradable, presenting an opportunity for manufacturers to develop innovative sustainable options.
  2. Food Delivery and Takeout Services: The surge in food delivery and takeout services, especially due to the COVID-19 pandemic, has led to an increased need for convenient and durable packaging solutions. Polycoated paper packaging offers a lightweight yet sturdy option for these purposes.
  3. E-commerce Packaging: The rapid expansion of e-commerce has boosted the demand for packaging materials that can withstand shipping and handling while maintaining product integrity. Polycoated paper packaging provides a cost-effective and protective solution for online retailers.
  4. Customization and Branding: Companies are increasingly investing in customized packaging solutions to enhance brand visibility and create a memorable unboxing experience for customers. Polycoated paper packaging offers versatility in design and printing, allowing for unique branding opportunities.
  5. Regulatory Compliance: Stringent regulations regarding single-use plastics and packaging waste management are driving businesses to adopt more sustainable packaging alternatives. Polycoated paper packaging aligns with these regulations and offers a viable solution for compliance while meeting consumer expectations.

Competitive Landscape Analysis

The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Polycoated Paper Packaging Market market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.

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Market Segmentation

Based on Product Type:

  • Bleached
  • Unbleached

Based on Product Form:

  • Printed polycoated paper
  • Unprinted polycoated paper

Based on Application:

  • Food and Beverages
  • Cosmetics and personal care
  • Automotive
  • Building and Construction
  • Electrical and Electronics
  • Chemical
  • Others(Animal Feed,etc.)

Based on the Region:

  • North America
    •  U.S. and Canada
  • Latin America
    • Mexico, Brazil, Peru, Chile, and others
  • Western Europe
    • Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg
  • Eastern Europe
    • Poland and Russia
  • Asia Pacific
    • China, India, Japan, ASEAN, Australia, and New Zealand
  • The Middle East and Africa
    •  GCC, Southern Africa, and North Africa

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Speech and Voice Analytics Market is Expected to Expand at a CAGR of 22.3% from 2022 to 2032

The Speech and Voice Analytics Market incomes were assessed at US$ 1.8 Bn in 2021 and is expected to develop at a CAGR of 22.3% from 2022-2032, as per an as of late distributed Future Market Insights report. Toward the finish of 2032, the market is supposed to arrive at a valuation of US$ 16.2 Bn.

Banks can offer normal, human-like conversations and satisfying commitment with clients by coordinating speech innovation with telephone banking. Banking firms focus on development to further develop their web banking offices. Beforehand, they depended on tedious and badly arranged techniques, for example, secret word verification, security questions, and One-Time Passwords (OTPs).

This situation, however, is evolving. Banks have perceived the need of supporting client experience and reinforcing security by integrating speech acknowledgment innovation into portable applications. Monetary help organizations, for example, Barclays Bank, United Services Automobile Association (USAA), and ING Bank have proactively started offering voice confirmation administrations to their clients to further develop the client experience, and they have gotten an ideal response.

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As per a FICO survey acted in the United States and Canada, 65% of Americans and 64% of Canadians were happy with uncovering their biometric data in 2020, demonstrating trust in biometric security. Barclays Bank participated close by Nuance Communications (US) in April 2020 to carry out a voice-biometric framework connected with regular language handling (NLP) to check clients via telephone.

The bank says that customer complaints about security have been decreased by 90%, and that average contact time has been lowered by 15%. HSBC has become the first bank to employ speech recognition for banking clients in February 2019. It has made a fundamental step toward the establishment of biometric banking.

Korean bank IBK also implements a biometric speech identification system that is dependent on speech recognition technology, allowing customer service centers to authenticate IDs in 15 seconds. Such advancements are likely to increase the need for speech analytics.

Key Takeaways from the Market Study

  • Global Speech and Voice Analytics Market is expected to reach a market size of US$ 2.2 Bn by 2022.
  • In terms of Component, the Solutions segment is expected to have the highest CAGR rate of 20.9% during the forecast period.
  • In terms of Deployment Mode, the Cloud segment is expected to have the highest CAGR rate of 19.9% during the forecast period.
  • United States is likely to remain the most dominant market with an absolute dollar growth opportunity of US$ 4.5 Bn during 2022 – 2032.
  • The market in U.S. is set to experience the highest CAGR of 21.6% during the forecast period.

“During the projected period, the rise of Solutions in terms of the component can become a key driver in raising the Speech and Voice Analytics Market revenue.” comments a Future Market Insights analyst.

 Competitive Landscape

The Speech and Voice Analytics Market is highly concentrated, with only a few competitors accounting for the vast majority of the market share. The established firms are attempting to obtain supremacy in this sector. These firms are increasing their profits and market shares through smart joint projects. Some development in the Speech and Voice Analytics Market include:

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  • In August 2021, Avaya, a leading company in solutions to improve and enhance communications and collaboration, declared the acquisition of CTIntegrations, a U.S.-based specialist contact center system integration, and software development firm. CTIntegrations also announced to expand Avaya’s digital capabilities for its large contact center client base and enhanced the Avaya OneCloud AI-powered experience platform.
  • In December 2021, Genesys Telecommunications, a provider of customer experience management, announced that it has completed the takeover of Pointillist and Exceed.ai. Exceed.ai, renowned for its established intelligence lead activation and discussion processor, and Pointillist, known for its award-winning experience management platform, will fast-track how organizations communicate with consumers across the sales, marketing, and service lifecycle.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Speech and Voice Analytics Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Speech and Voice Analytics Market in terms of Components (Solutions (Speech Engine, Indexing and Query Tools, Reporting and Visualization Tools, Quality Management, Root Cause Analysis, Other Solutions (Emotion Detection and Workforce Optimization)), Services (Managed Services, Professional Services)), Application (Customer Experience Management, Call Monitoring and Summarization, Agent Performance Monitoring, Sales and Marketing Management, Risk and Compliance Management, Sentiment Analysis, Other Applications), Deployment Mode (On-premises, Cloud), Organization Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), Vertical (Banking Finance Services and Insurance (BFSI), IT and Telecom, Media and Entertainment, Healthcare and Life Sciences, Retail and E-Commerce, Travel and Hospitality, Government and Defence, Other Verticals), and across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa (MEA)).

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Market Segments Covered in Speech and Voice Analytics Market Analysis

By Component:

  • Solutions
    • Speech Engine
    • Indexing and Query Tools
    • Reporting and Visualization Tools
    • Quality Management
    • Root Cause Analysis
    • Other Solutions
  • Services
    • Professional Services
    • Managed Services

By Application:

  • Customer Experience Management
  • Call Monitoring and Summarization
  • Agent Performance Monitoring
  • Sales and Marketing Management
  • Risk and Compliance Management
  • Sentiment Analysis
  • Other Applications

By Deployment Mode:

  • On-premises
  • Cloud

By Organization Size:

  • Large enterprises
  • Small and Medium-sized Enterprises (SMEs)

By Vertical:

  • Banking Finance Services and Insurance (BFSI)
  • IT and Telecom
  • Media and Entertainment
  • Healthcare and Life Sciences
  • Retail and E-Commerce
  • Travel and Hospitality
  • Government and Defence
  • Other Verticals

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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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Social Media Content Creation Market Thrives: Valuation Surges to US$ 5.07 Bn in 2022, Projected CAGR of 14.5% by 2032

According to a recent study, Social Media Content Creation Market reached a valuation of US$ 5.7 Bn in 2022 and is expected to reach US$ 19.64 Bn in 2032, at a 14.5% CAGR from 2022 to 2032. As marketing professionals seek to reach a bigger consumer base, there is a growing demand for content development tools across many business sectors. A rapid rise in the adoption of social media content creation tools is expected owing to:

  • increased IT expenditure
  • AI usage
  • cloud computing implementation
  • decreased data storage costs
  • rise of e-commerce business platforms.

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Marketing and sales tactics are increasingly heavily reliant on social media content creation software tools and service platforms. And, in almost every industry, digital marketing is becoming a critical—if not essential—part of any marketing department.

Digital content development for social media platforms like Twitter, Facebook, and YouTube is exploding, propelling the social media content creation market forward. HubSpot, Moovly Media, Shopify, Zoom Video Communications, and Atlassian Corporation are all active IT businesses in the field, and they all control the social media content creation market share.

Manufacturers and software developers are offering new prospects as a result of technology developments and product innovations that merge hardware and software to generate social media content. Not only are the market’s major players stepping up their game, but start-ups and newcomers are carving out a position for themselves in an increasingly global social media content creation marketplace.

SME growth is accelerating in high-growing areas such as Asia-Pacific (APAC) and the Middle East, contributing considerably to the expanding social media content creation market. In this demographic, social media creation and management solutions are perfect since they allow marketers to communicate directly with their audiences across several social media platforms at a cheap cost.

The social media content creation market is segmented into content type, enterprise size, end-user industries and region. The YouTube content creation segment of the social media content creation market is expected to lead the market with a share of 40.3% in the global industry. The large enterprises segmented is also driving the social media content creation market forward with a share of 73.2%. The share of SMEs in the social media content creation market is less but it is picking up at a rapid pace owing to the changing market outlook and global scenario.

US Social Media Content Creation Demand to Grow Nearly 11.9% Annually Through 2032

The demand for social media content creation in USA is projected to have a share of 72.4% in 2022 and is expected to lead the social media content creation market at a high pace.

APAC region is anticipated to lead the social media content creation market throughout the forecast period owing to growing customer base and changing consumer preferences. Growth in the APAC region could be attributed to the following factors:

  • The Indian social media content creation market is projected to have a share of 39.8% in the global market and is also expected to grow at a high rate of 14.2% throughout the forecast period.
  • The Chinese social media content creation market is growing at a CAGR of 15.9% from 2022 to 2032.
  • The demand for social media content creation in Japan is expected to grow at a rate of 12.2% throughout the forecast period and it is also holding a market share of 32.9% globally.
  • The China social media content creation market is holding the highest share of the market in the APAC region of 47.1%.

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The report provides a thorough analysis of the social media content creation market. In-depth qualitative research, verifiable data from reliable sources, and market size predictions are all included in the report. The estimates are based on well-established research methodology.

Key segments

By Content Type:

  • Instagram Content Creation
  • Facebook Content Creation
  • Tiktok Content Creation
  • YouTube Content Creation
  • Others

By Enterprise Size:

  • Small & Medium Sized Enterprise
  • Large Enterprise

By End Use:

  • Travel & Hospitality
  • Retail
  • Education
  • Healthcare
  • Media & Entertainment
  • Telecom & IT
  • Others

By Region:

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

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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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Currency Exchange Bureau Software Market Thrives with a 7.2% Y-o-Y Surge, Anticipates Reaching US$ 1.2 Billion by 2032

By 2032, sales of currency exchange bureau software market are projected to reach US$ 1.2 billion, growing at a compound annual growth rate of 6.4%. More support from the government to encourage market expansion is anticipated in the upcoming years. In 2022, the industry is projected to generate US$ 654.4 million.

The industry is growing as a consequence of the accessibility of several online platforms that guarantee the delivery of goods and services in a centralised, secure setting and streamline international currency conversion. Because of easy options, money availability, and technological developments, the currency exchange bureau industry is predicted to increase.

As per the analysis, the software segment is anticipated to hold remunerative opportunities for the global currency exchange bureau software market. Various developing countries are making significant developments in their budgets, thereby, offering lucrative opportunities to players in the market.

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Key Takeaways:

  • By component, the software segment is expected to record a 6.5% CAGR by 2032
  • By enterprise size, the large enterprise segment to expand at a 6.6% growth rate during the forecast period
  • The U.S market to garner US$ 432.6 Million and record a 6.1% CAGR from 2022-2032
  • Market in China to procure US$ 86.8Million, expanding at a 5.7% growth rate during the assessment period 

“Increasing use of currency exchange bureau software by various industry verticals such as travel agencies, BFSI, healthcare, resorts, hotels, and retail is expected to fuel the demand of currency exchange bureau software market over the forecast period” says an analyst at Future Market Insights 

Competitive Landscape

Eminent players of the global currency exchange bureau software market include Currenex, OANDA, Currency Exchange International, Merkeleon, and Biz4x among others. Recent key developments among players include:

  • In November 2021-OANDA partners with CONVRS to enhance the account opening process and better engage with clients. The partnership will allow prospective traders in the emerging markets to open a demo account directly from a wide range of messaging apps, making the process simpler than ever. The new integration also enables OANDA to converse with prospects and clients through Facebook Messenger, WhatsApp, LINE, Telegram, and SMS in 53 languages.
  • In November 2021 – State Street Corporation announced its GlobalLink Division that will combine its Currenex and TradeNeXus into a single platform called GlobalLink FX. Bringing the three businesses together will result in significant benefits for clients including FXConnect Market Monitor, an improved price discovery tool for FXConnect buy-side clients. This enhancement will utilize Currenex streaming price feeds and market data in order to provide clients with a curated view of their liquidity providers, driving better decision-making and execution outcomes.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global currency exchange bureau software market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of component (Software, Services) by enterprise size (Small and Medium Enterprise (SMEs), Large enterprises) by Application (Personal, business), and Region (North America, Europe, APAC, Middle East & Africa, and Latin America)

Key Segments Covered in the Currency Exchange Bureau Software Industry Survey

Currency Exchange Bureau Software Market by Component:

  • Currency Exchange Bureau Software
    • On-Premises
    • Cloud
  • Currency Exchange Bureau Services
    • Managed Services
    • Professional Services

Currency Exchange Bureau Software Market by Enterprise Size:

  • Currency Exchange Bureau Software for Small and Medium Enterprise (SMEs)
  • Currency Exchange Bureau Software for Large Enterprises

Currency Exchange Bureau Software Market by Application:

  • Currency Exchange Bureau Software for Personal Applications
  • Currency Exchange Bureau Software for Business Applications

Currency Exchange Bureau Software Market by Region:

  • North America Currency Exchange Bureau Software Market
  • Europe Currency Exchange Bureau Software Market
  • APAC Currency Exchange Bureau Software Market
  • The Middle East & Africa Currency Exchange Bureau Software Market
  • Latin America Currency Exchange Bureau Software Market

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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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Demand for Microalgae in Fertilizers Sector Soars to US$ 28.7 million by 2033: Exploring Growth | Future Market Insights

Demand for Microalgae in Fertilizers Sector

According to Future Market Insights (FMI), the demand for microalgae in the fertilisers sector is expected to expand steadily. Its total market value is predicted to exceed US$ 28.7 million by 2033, up from US$ 11 million in 2023. The demand for microalgae in the fertilisers sector is expected to increase at a 10% CAGR from 2023 to 2033.

Microalgae is an organic, natural material that produces renewable energy from seawater or freshwater. Various species are discovering water retention and nutrition roles for various soil profiles.

For many years, they have been employed as a soil conditioner in several trials, where liquid preparation and powdered extracts have been used successfully on cereal crops, resulting in greater crop production, higher nutrient uptake, and improved herbicide tolerance.

Dry algae is also gaining traction as compost, assisting in soil binding, making it ideal for use as a bio-fertilizer. As dry algae is an organic material, it may store nutrients and provide them to plants via capillary action for a longer period.

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Conventional chemical fertilizers dissolve in water and settle deep in the ground. Consequently, nutrients in fertilizers become unavailable over time. Microalgae fertilizers are used to resolve this problem. It also increases the soil’s water-holding capacity and the intermolecular space between soil molecules, allowing sufficient aeration to reach the root system.

Consumer preference for organic and environment-friendly fertilizers to enhance crop yield along with increasing concerns about sustainability drive the demand for microalgae in the fertilizers industry. Rising concerns pertaining to reduced soil salinization, greenhouse emissions, and abiotic stress in agriculture are driving the demand for natural ingredient-based fertilizers, supporting the incorporation of microalgae.

Growing Applications of Microalgae Residue

Cyanobacteria and microalgae have numerous applications and are a significant source of bioactive compounds. Generally, microalga is a rich source of essential macro and micro-elements, which can be used as a protein source in food, feed, and fertilizer applications.

Microalgae contain lipids, carbohydrates, and proteins. Lipids extracted from algae are rich in oxygen (O) (26.3%), C (49.0%), N (5.76%) and hydrogen (H) (6.96%).

Untreated microalgae and microalgae biomass are rich in organic matter and macronutrient contents. This supports soil fertility, which in turn helps consumers to gain higher crop yield. Moreover, the cost of microalgae is comparatively low. Therefore, several fertilizer manufacturers utilize algae waste in their products.

Who is Winning?

Key players who are engaging in producing and supplying microalgae in fertilizers sector are actively involved in changing market strategies and expanding production capacities to keep up with the demand for microalgae in the fertilizers sector.

Some of the key players operating in microalgae demand analysis in the animal feed sector include DIC Corporation, Cyanotech Corporation, Koninkliijke DSM NV, Roquette Frères, BASF SE, Fuji Chemical Industries Co., Ltd., Parry Nutraceuticals, BGG (Beijing Gingko Group), KDI Ingredients, Sinoway Industrial Co., ltd., INNOBIO Corporation Limited, Yunnan Alphy Biotech Co., Ltd, Algaecan Biotech Ltd., Algatechnologies Ltd., Cardax, Inc, Igene Biotechnology, Inc., Fenchem Biotek Ltd., AstaReal Inc., Valensa International, Kunming Biogenic Co., Ltd., and many others.

Demand for Microalgae in Fertilizers Sector by Category

By Species Type:

  • Spirulina
  • Chlorella
  • Dunaliella
  • Schizochytrium
  • Euglena
  • Nannochloropsis
  • Nostoc
  • Others

By Source:

  • Marine water
  • Fresh Water

By End Use Application:

  • Biofertilizers
  • Biocontrole
  • Soil microalgae
  • Biostimulants
  • Fungicide & Insecticide
  • Pesticide
  • Soil Conditioner
  • Agriculture Herbicide
  • Animal Repellent
  • Others

By Region:

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

Key Questions Answered in the Report

  • What is demand for microalgae in fertilizers sector market size?

Propelled by improvements in research and development and emerging technologies in the fertilizers sector, the global demand for microalgae in fertilizers sector will surpass US$ 9,479.4 Thousand in 2021 and it is also expected to surpass US$ 21,747.6 Thousand by 2031.

  • At what rate did the demand for microalgae in fertilizers sector expand in the last five years?

According to FMI’s analysis, demand for microalgae in fertilizers sector sales have grown at 6.6% CAGR between 2016 and 2020. The market’s valuation stood at over US$ 8,805.2 Thousand in 2020.

  • What are the key trends shaping the demand for microalgae in fertilizers sector?

Key trends shaping the market include growing environment-friendly and sustainable agricultural practices. Organic farming will continue fuelling the demand for microalgae in the fertilizers sector across the forecast period. High biotechnology potential for soil research is driving consumer attention.

  • What are the key factors driving demand for microalgae in fertilizers sectors?

Growing requirements of soil conditioners, efforts to improve abiotic stress tolerance to improve crop yield and stability of soil drive the demand for microalgae in fertilizers sector over forecast period.

  • What are the statistics of microalgae demand in the North America fertilizer sector?

Demand for microalgae in the fertilizer sector in North America is set to rise, aided by the demand for bio-fertilizers across the U.S. and Canada. As per FMI research, North America will hold 34.3% of the global demand in 2021.

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About Future Market Insights (FMI)

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

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