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Future Market Insights (FMI) in a new study predicts the electroplating market to exhibit 3.6% Y-o-Y growth in 2021. Electroplating has become a vital application in a number of industries such as electronics, automotive, and machinery parts & components, due to its indispensable characteristics of corrosion resistance.

Rapid industrialization, coupled with high disposable income in developing countries, is fueling the demand in the automotive, electronics, and jewelry industry, which in turn has been creating opportunities for electroplating applications.

According to the report, the global electroplating market is projected to rise at a CAGR of ~4.3% during the forecast period of 2021-2031, reaching a market value of ~US$ 25 Bn by 2031. While the growth projections for electroplating market continues to be strong during the forecast period, the ongoing COVID-19 pandemic crisis is anticipated to cause a minor strain in demand.

Closure of manufacturing units and supply chain networks due to shutdowns in a number of countries is expected to affect the consumption of Electroplating in key industries like electronics, automotive and aerospace & defense. However the market is expected to recover in year 2021.

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Among various industries exhibiting demand, the automotive and electrical and electronics segment will continue accounting for the lion’s share. Of these, the automotive segment is expected to maintain dominance, accounting for above 34% of electroplating sales through 2031.

Key Takeaways from Electroplating Market Study

• Electroplating market will continue exhibiting growth after a temporary period of lull in 2020. It is likely to exhibit 4.3% CAGR between 2021 and 2031
• US holds 81.6% of North America market in 2021 and outlook remains positive
• UK will register a growth of 2.8% Y-o-Y in 2021
• Germany and France will continue exhibiting steady growth
• JAPAN and Korea will continue to be a bright spot, yet China will hold dominance in East Asia

 “With small manufacturers eating into the market share, global players are looking into ways to improve margins by engaging in more B2C sales through collaboration with large scale end users”– says FMI analyst

Electroplating Market: Participant Insights                                              

Key global players in the Electroplating market, like Atotech Deutschland GMBH, Interplex Holdings Pte. Ltd, Kuntz Electroplating Inc., Pioneer Metal Finishing Inc., Roy Metal Finishing Inc., are focused on establishing partnerships with automotive OEMs, machinery equipment providers and electronic companies to form long term supply contracts. Manufacturers also are focusing on innovations to gain competitive advantage. For instance, Fischer has launched an innovative laser technology to improve plastic electroplating.

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Key Segments

Plating Metal

• Gold
• Silver
• Copper
• Nickel
• Chromium
• Zinc
• Others

Substrate

• Manually Operated Inhaler Devices
• Base Metal Plating
• Plastic Plating

Function

• Decorative
• Functional

End-Use

• Automotive
• Electrical & Electronics
• Aerospace & Defense
• Jewelry
• Machinery Parts & Components
• Others

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To Know More about Electroplating Market:

A recent market study published by Future Market Insights (FMI) on the global Electroplating market report offers insights into the consumption scenario of Electroplating on both global and regional level. The report analyses the Electroplating market demand through three segments – plating metal, substrate, function, and end-use, across six regions.

The Electroplating report also offers key insights into key growth drivers by end use, major competitors across application, manufacturer margins, and import/export scenario, along with COVID impact analysis on the market demand trend.

About FMI

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

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The global Chromium Picolinate market size total US$10.5 billion in 2021. Chromium Picolinate sales are projected to get a valuation of $11.5 billion by 2022, growing at a remarkable CAGR of almost 8% to 9% in the forecast Year of 2022-32. Demand for chromium picolinate is estimated to exceed $20 billion by the end of 2032.

Chromium is naturally present in trace amounts in food such as meat, grain bread, fish, etc., but still, the risk of getting chromium deficiency is increasing due to changing lifestyle and poor eating habits, and thus, the consumption of chromium picolinate is an effective way to obtain the daily requirement of the chromium.

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Increase in Weight-management Problems Boosts the Demand for Chromium Picolinate.

According to the World Health Organization, in 2016, more than 1.9 billion adults were noted as overweight, out of which around 650 million adults were obese. Around 13% of the global adult population was obese in the year 2016. The consumers are changing their lifestyle and eating habits to maintain a healthy life, and thus, are willing to buy dietary supplements to fulfill the nutritional requirement. The rise in the prevalence of obesity and overweight problems are anticipated to increase the sales of weight-loss supplements, and thus, is estimated to increase the demand for chromium picolinate.

Chromium picolinate is used as a dietary supplement. The scientific studies have indicated that chromium picolinate helps in decreasing the carbohydrate cravings and also helps in metabolizing fats and carbohydrates. Chromium picolinate decreases triglyceride and cholesterol levels.

Chromium picolinate acts as a natural appetite suppressant, and thus, is used as a weight-loss supplement. Therefore, the increase in weight management problems is anticipated to increase the sales of chromium picolinate.

The increase in the prevalence of diabetes is expected to serve as one of the major drivers for the increase in the demand of chromium picolinate. According to the World Health Organization, in 2016, around 1.6 million deaths were caused due to diabetes and is estimated to be the seventh leading cause of death in 2016. As health awareness among the consumers is increasing, the demand for dietary supplements is increasing as they satisfy taste as well as nutritional requirement.

The lack of awareness about chromium picolinate and the preference for plant-based dietary supplements is anticipated to serve as a major restraint for the chromium picolinate market. Due to an increase in awareness about the side-effects of the chemicals, the consumers prefer the use of plant-based products.

There are many types of dietary supplements that are present in the market. The companies are trying to develop plant-based dietary supplements to attract health-conscious consumers. Also, the lack of awareness about the dosage of chromium picolinate can cause side-effects.

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The dose of chromium picolinate will depend on various factors such as gender, age, etc., and thus, the lack of knowledge can have side-effects such as renal impairment, liver damage, etc. Therefore, the preference for plant-based dietary supplements and the lack of awareness is expected to hinder the growth of chromium picolinate market.

Chromium Picolinate Market: Regional Analysis

The hectic schedule, changing eating habits, increase in the disposable income, preference for a healthy lifestyle, etc., are anticipated to increase the sales of dietary supplements in the Asia Pacific region, and thus, is expected to have a positive impact on the chromium picolinate market. The increase in the prevalence of diabetes in the Asia Pacific region is estimated to increase the demand for chromium picolinate.

Chromium Picolinate Market: Key Participants

Some of the market participants in the Chromium Picolinate market are:

• Merck KGaA
• Resonance Specialities Ltd.
• Sellwell(Group) Chemical Factory
• Amsal Chem Private Limited
• Cambridge Commodities Limited
• Chemlock Metals Corporation
• Oceanic Laboratories Pvt. Ltd.
• Celtic Chemicals Ltd
• Anmol Chemicals Group
• Yihan Industrial Co., Ltd.
• Mubychem Group
• Salvi Chemical Industries Ltd.

The research report presents a comprehensive assessment of the chromium picolinate market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as grade, and end-use.

The report covers exhaustive analysis on

• Chromium Picolinate Market Segments
• Market Dynamics
• Market Size
• Supply and Demand
• Current Trends/Issues/Challenges pertaining to chromium picolinate market
• Competition Landscape and Emerging Market Participants in chromium picolinate market
• Technology related to Production/Processing of chromium picolinate
• Value Chain Analysis of the chromium picolinate market

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Regional analysis includes

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
• East Asia (China, Japan, South Korea)
• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
• Oceania (Australia, New Zealand)
• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

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

Chromium Picolinate Market Segmentation

The Chromium Picolinate market can be segmented on the basis of grade, and end-use:

On the basis of the grade, the chromium picolinate can be segmented as:

• Food Grade
• Pharmaceutical Grade
• Others

On the basis of end-use, the chromium picolinate market can be segmented as:

• Food and Beverage Industry
• Dietary Supplement Industry
• Nutraceutical Industry
• Others (e.g. Pharmaceutical Industry, etc.)

About FMI

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

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Plant-based burger market is witnessing a spike in demand, which is expected to continue post pandemic according to a recent report published by Future Market Insights (FMI). Although the pandemic has hit production and supply chains across the world, the global plant-based burgers market has managed to attract demand from consumers says FMI.

The global plant-based burgers market is poised to witness extraordinary growth with CAGR of above 22% for the forecast period 2020-2030, according to FMI. Though plant based burgers were originally developed with vegan and vegetarian consumers in mind, many others are also joining in the ongoing trend. The concepts like ‘flexitarians’ and similar others are gaining traction owing to concerns for health as well as eco system.

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Furthermore, animal borne diseases such as COVID-19, SARS, bird flu and many others are pushing more people towards plant based food products. The magnitude and intensity of novel Corona virus is making consumers opt for healthier food substitutes with high nutritional value.

Plant based burgers are made as replacement of regular animal meat burger, using plant ingredients and natural sources without compromising the benefits, but attempting to reduce the drawbacks. These greener and healthier alternatives to the existing food choices are gaining momentum in the market post the onset of COVID-19 suggests report.

Some of the key takeaways from the report are as follows:

• Europe to continue as the largest market in terms of market size throughout the forecast period
• Plant based beef is identified as the most lucrative product in the segment
• Brands in the food and beverages industry looking to partnering with plant based food companies to expand reach
• HoReCa (food service sector) to emerge as the largest distribution channel throughout forecast period
• East Asia and Latin America to achieve highest growth by the end of forecast period 2020-2030

“As the demand for plant-based burger continues to grow, market players are aiming at innovating packaging and storage solutions to ensure nutrients in their products remain intact for a longer period. They are even forging partnerships with several leading names in food chains to ensure they have a widespread footprint” says analyst at FMI.

COVID-19 Impact on Plant Based Burgers Market

COVID-19 pandemic has impacted life and business since its advent. The lockdowns imposed by the governments to reduce the impact of the pandemic has brought businesses across the world to halt. Many businesses incurred heavy losses owing to the shutdowns in the production. However, plant based food was one particular industry which saw a spike in growth amidst all the uncertainty caused by the pandemic.

This growth could be attributed to the fear in people’s minds because of the animal borne disease such as COVID-19. As the impact of the disease grew stronger, the growth in the sales of healthy and nutritious plant based meat substitutes saw exponential increase. Lockdown imposed in March 2020 saw one of the biggest spikes in sales of plant based meat substitutes in regions including Europe, North America, Latin America and others.

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Who is Winning?

Companies are looking at mergers and acquisitions as the key strategy to gain advantage over the competitors in the market.

Many popular brands in the food and beverages industry are partnering with plant based food companies to reach out to the vegan, vegetarian and flexitarian community.

For instance, fast food giants such as burger King, McDonalds and many other popular restaurant chains are partnering with popular plant based burger brands such as impossible burgers, beyond meat and so on to cater to the wider group of consumers.

Many other food joints are following suit and bringing plant based meat substitutes to their menus. Rising popularity of plant based foods is forcing known brands and new players in the food industry to invest big in the market.

For instance, Burger King partnered with ‘Impossible foods’, a popular brand of plant based products to offer plant based burgers to its customers. Introducing these plant based options has helped Burger King in gaining advantage over rival and popular brand McDonalds. It also increased its customer base as vegan and vegetarian consumers were added because of the new additions in the offerings.

Valuable Insights on Plant-Based Burger Market

Product Type

• Plant based Chicken
• Plant based Beef
• Plant based Pork
• Plant based Fish/Fishless Fish

Source

• Soy-based Protein
• Wheat-based Protein
• Pea-based Protein
• Canola-based Protein
• Fava Bean-based Protein
• Potato-based Protein
• Rice-based Protein
• Lentil-based Protein
• Flax-based Protein
• Chia-based Protein
• Corn-based Protein

Distribution Channel

• Hypermarkets/Supermarkets
• Convenience Stores
• Specialty Food Stores

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• MEA
• Oceania

Frequently Asked Questions

• How big is the plant-based burgers market?
• Which region exhibits highest demand for plant-based burgers?
• Which are the top companies in the plant-based burgers market?
• Which is the most preferred distribution channel in the plant-based burgers market?
• What is the outlook on the plant-based burgers market?

About FMI

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

Contact Us:
Unit No: 1602-006
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Plot No: JLT-PH2-X2A
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