Market Research Blog – Page 9663 – New Product Development

Carpal Tunnel Release Systems Market to US$ 863.2 Million by 2029 | FMI

Driven by the rising prevalence of carpal tunnel syndrome, global sales of carpal tunnel release systems surpassed a market value of 563.6 Mn in 2021. Carpal tunnel release systems market is poised for a healthy growth outlook during 2022 – 2029. Growing availability of efficient carpal tunnel release surgery equipment is another strong factor that would continue to bolster the growth of carpal tunnel release systems.

A. M. Surgical, Inc. developed an endoscopic carpal tunnel release system, which allows a clear view of surgical field and structure of median nerve. Leading manufacturers are collaborating with contract manufacturing organizations for the development of efficient carpal tunnel release systems. In June 2021, A.M. Surgical Inc. entered into new comprehensive product development and manufacturing agreement with Medigus Ltd for an integrated visualization device.

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Although endoscopic surgeries are cost intensive, advantages such as less incision, reduced recovery time, and favorable reimbursement policies are boosting their adoption rate.

Key Takeaways – Carpal Tunnel Release Systems Market Study

Owing to increasing preference for open carpal tunnel release systems for surgeries, open carpal tunnel release systems continue to contribute a significant market share.
Demand for endoscopic carpal tunnel release system is expected to gain traction during the forecast period owing to increasing adoption of minimally invasive endoscopic surgery.
Increasing patient visits to hospitals for carpal tunnel syndrome treatment is expected to increase market share of hospitals in terms of end user.
Owing to rising number of carpal tunnel release surgeries along with reimbursement policies, Europe is expected to be significant revenue generator.

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Innovative Product Launches Strategic Focus of Manufacturers

Stryker Corporation and Smith & Nephew plc. are among the leading market players in the carpal tunnel release systems market. These manufacturers continue to dominate the market landscape of carpal tunnel release systems by ensuring product availability, strengthening manufacturing facilities, and strategizing R&D for diversification of product portfolio. The market positioning acquired by Arthrex, Inc. through its innovative brand Centerline helped it maintain significant market share.

More Valuable Insights on Carpal Tunnel Release Systems Market

Carpal tunnel release systems market, a new study from Future Market Insights, provides unparalleled insights on evolution of the market during 2014 – 2021 and presents demand projections during 2022 – 2029 on the basis of product type (open CTR systems, endoscopic CTR systems), end user (hospitals, ambulatory surgical centers, specialty clinics) across seven major regions.

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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 8-years.

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Aortic Stents Grafts Market to reaching a valuation of around 2.8 Billion by 2028 | FMI

[215 Pages Report] Future Market Insights delivers key insights and presents a revised forecast of the global aortic stent grafts market for a 10-year period from 2018 to 2028 in the report titled “Aortic Stent Grafts Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028.” The revision in the market size and volume forecasts has been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of the key market participants. In terms of revenue, the global aortic stent grafts market is projected to expand at a 7.6% CAGR over the forecast period of 2018–2028.

North America is expected to contribute a high revenue share in the global aortic stent grafts market over the forecast period. North America is witnessing a large demand for aortic stent grafts due to high adoption of endovascular repair surgeries, which is expected to boost the growth of the aortic stent grafts market.

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The global market is segmented based on product type, end users and region. Based on the product type the market is segmented into abdominal aortic stent graft and thoracic aortic stent grafts. Abdominal aortic stent graft product type segment is expected to represent high revenue share in the global aortic stent grafts market. The thoracic aortic stent graft segment is expected to gain significant share in the forecast period due to increasing focus of the manufacturers on product launch for TEVAR procedures. Based on end users, the market is segmented into the hospitals and ambulatory surgical centers/outpatient surgical centers. Among both the end users, the hospitals is expected to be the leading segment the market.

New product launches with improved stent graft designs are expected to provide enormous opportunities for the growth of the aortic stent grafts market and fulfil the demand from surgeons to overcome complications during surgeries. Increasing government initiatives to reduce the burden of abdominal aortic aneurysm, favourable recommendation and regulatory approvals, mergers, and acquisitions among manufacturers are the key market trends, which are expected to boost the growth of aortic stent grafts market.

Increasing prevalence of aortic aneurysm among the older population, favourable reimbursement policies, adoption of new minimally invasive technologies are the major factors expected to impel the growth of the aortic stents grafts market. Increasing number of government screening programs for people over 65 age has provided huge growth opportunities for the manufacturers operating in the aortic stent grafts market. However, product recalls and lack of skilled healthcare professionals are factors hindering the growth of the aortic stent grafts market.

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The market for aortic stent grafts market is consolidated with large number of major players operating in the global market. Examples of some of the key players identified in global aortic stent grafts market are

Cook Medical Inc.
W.L. Gore & Associates
MicroPort Scientific Corporation Inc.
Medtronic Plc.
Lombard Medical Inc.
Endologix
INC.
Terumo Corporation Inc.
Cardinal Health Inc.
Becton
Dickinson and Company
Cryolife Inc.
Lombard Medical Inc.

Aortic Stents Grafts Market By Category

Product Type:

Abdominal Aortic Stent Graft
Thoracic Aortic Stent Graft

End User:

Hospitals
Ambulatory Surgical Centers/Outpatient Surgical Centers

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Glacier Cruises Market Worth US$ 1.95 Bn By 2032 | CAGR 3% – By FMI

The Glacier Cruises Market is estimated to reach US$ 1.45 Bn in 2022. As per the report, sales are forecast to increase at a robust 3% CAGR, with the market valuation reaching US$ 1.95 Bn by 2032.

For those interested in glacier cruises, the most popular travel locations are Alaska, Canada, Norway, Sweden, Finland, and Iceland. Glacier cruises have developed into activities for people of all ages. The original target audience for these tours was senior citizens from western countries with extra time and money. Today, even families and children are selecting these non-conventional alternatives due to the spectacular beauty. The millennial generation strongly favours travelling to uncommon and exciting locations. Cruises to glaciers frequently stop in remote, untouched locations.

They give their customers exceptional experiences like witnessing sub-arctic species, flying in private planes to observe entire glacier ranges and river basins, and taking part in a range of sports like rafting, ATV excursions, and hiking. Top companies in the cruising sector are offering package solutions that include charter flights over stunning glaciers to reach the core regions that are challenging to cruise. This makes it possible for visitors to fully enjoy their glacier excursion. Expeditions to the glaciers are significantly hampered by the short season and uncertainty of the weather.

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Global warming is one of the major restraints in the glacier cruises market. As the glaciers have started to melt at a much higher rate than the past years. This has caused a sense of panic amongst the tour providers and the local citizens as cruise tourism is one of the integral part of economy for a fair share of population. However the cruise companies are coming up with new technologies to improve the cruising and find more sustainable ways which causes minimum impact to the environment and the natural habitat in the region.

“Along with seniors, Millennials showing interest in glacier cruises and cruise companies taking efforts to deliver the best experience to the travellers will positively impact the Glacier Cruises Market” Says an FMI analyst.

Key Takeaways:

By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly ~80%.
In terms of age group, demand in the age group from 46-55 years and 56-65 years will continue gaining traction through 2032.
Based on packages, Glacier cruise travelers will continue to opt packaged deals over the normal travel deals.
Glaciers will have rush in the span from spring to autumn i.e. May to September.

Impact of COVID-19

The COVID-19 epidemic had a significant impact on the tourism industry and consequently the cruise market because of tight restrictions that were put in place to treat the virus. Visits from foreign tourists decreased drastically from the same time last year.

The significant negative consequences of COVID-19 on people’s financial situations clearly had an effect on their purchasing power and spending habits when looking at the effects from the perspective of the passenger. Because the ships were carrying fewer people than normal, they had to be anchored in the ports. They were the ones who were most severely affected by the epidemic since the economies of those living in port communities are mostly dependent on cruise trips. Currently the cruising sector is getting back to normal and with the implementation of novel strategies, it is set achieve new heights.

Who is winning?

Major players present in the Glacier Cruise Market are Princess Cruises, MSC Cruises Company, Silversea Cruises, Holland America Line, Star Clippers, Carnival Cruises, Celebrity Cruises, Carnival Cruise Line, G Expedition, Discerning traveller, Trafalgar, Quark Expedition, Aurora Expedition, and Cruiser Adio among others.

Glacier Cruise Market by Category

By Cruise Destinations:

Alaska
Canada
Antarctica
Greenland
Others

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
56-65 Years
66-75 Years

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About Future Market Insights (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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Alaskan Cruises Market to Hit US$ 2.51 Bn by 2032 | Future Market Insights

As per a recent market analysis by Future Market Insights (FMI), Alaskan Cruise market is poised to reach a valuation of US$ 1.87 Bn in 2022. Sales are projected to increase at a 3.0% CAGR, with the market size reaching US$ 2.51 Bn by 2032

Various attractive tour packages are offered by a number of cruising lines. Travellers who were locked at their homes were eagerly waiting for an opportunity. Cruising lines providing new offers and packages has gained the interest of these travellers. The cruising lines are also set to make the most out of the opportunity by launching new luxury cruises and exciting activities to add on to the consumer’s cruising experience. Consumers are increasingly interested in unique experiences like Fishing, Wildlife, Northern Lights, Denali, Hiking, Camping, Glaciers, and many more of such activities.

The U.S Government is also taking special effort to get the tourism and cruising in the Alaskan region back on track. U.S. Government introduced bicameral legislation to provide a one year extension of the Alaska Tourism Restoration Act (ATRA). This act was signed into the law in May 2021. This new act ensures that if Canada restricts its borders for foreign passengers, the Alaska delegation is ready and able to again temporarily authorize foreign-flagged passenger vessels to bypass Canada.

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Besides this, in order to expand the range of business and also to contribute to the prevention of environmental changes, the top players in the Alaskan cruising market are developing new ships that will be ecofriendly. These new ships will not emit greenhouse gases and thus help in saving preventing the pause in obstacles in cruising due to recurring natural disasters. This will also gain the attention of travelers that care about environment and increase the number of people opting for cruise travel.

“Government initiatives and growing options in the cruising sector will boost the Alaskan Cruising Market “Says an FMI analyst.

Key Takeaways:

Based on cruise destination, Juneau is predicted to account for a dominant share of Travellers in the market through 2032.
By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly 58%.
In terms of age group, demand in the senior citizens will continue gaining traction through 2032.
Based on packages, Alaskan cruise travelers will continue to opt packaged deals over the normal travel deals.
Alaska will have travelers throughout the year but cruising season will have rush in the span from May to September.

Impact of COVID-19 on the Alaskan Cruise Market:

Due to lockdown limitations were implemented to manage the virus, the COVID-19 epidemic had a huge impact on the tourism sector and hence the Cruise market too. International tourist visits declined by huge margin from, compared to the period in past years.

The ships were forced to be anchored as the ports as they were carrying fewer passengers than the usual. As the economy of population in port towns mainly rely on the cruise travel, they were the ones who got badly hit by the pandemic.

Currently, the Cruise travel is getting back to normal and is expected to grow at a good rate as the limitations after the pandemic have eased up.

Who is winning?

Leading players in the Cruising market are focusing on smart promotional strategies, advertisements, and new packaged deals to improve sales in the market.

Major players present in the Alaskan Cruise Market are Alaskan Luxury Cruises, Phillips Cruises and Tours, LLC,Custom Alaska Cruises, 26 Glacier Cruise, Major Marine Tours, Stan Stephens Glacier & Wildlife Cruises, Lu-Lu Belle Glacier Wildlife Cruises, Kenai Fjords Tours, Seward Ocean Excursions, Coldwater Alaska – Water Taxi, Alaska Tour & Travel, Mahay’s Jet Boat Adventures, Holland America Line, Carnival Alaskan Cruises, Celebrity Alaskan Cruises, Norwegian Cruise Line, Carnival Cruise Line among others.

Alaskan Cruise Market by Category

By Cruise Destinations Type:

Juneau
Ketchikan
Skagway
Seward
Sitka

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Tour Type:

Independent Traveler
Tour Group
Package Traveller

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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Literary Tourism Market to be worth US$ 2.96 Billion by 2032, Get Insights FMI

As per a recent market analysis by Future Market Insights (FMI), the Literary tourism market is poised to reach a valuation of US$ 2.2 Billion in 2022. Sales are projected to increase at a 3% CAGR, with the market size reaching US$ 2.96 Billion by 2032.

Literary tourism is increasing, particularly in places with a long history and a rich cultural heritage. The top city in the world for literary tourists is London, which is followed in that order by New York, Paris, San Francisco, and Rome in Italy. These cities have at least one well-known poet, writer, or artist as residents.

Their countries are happy that they have featured notable literary figures, but they are also happy because their economies have profited from their notoriety and the literary tourism that their writings have stimulated. The idea of literary tourism celebrates a place’s history and culture. The idea is to visit places in different parts of the world that are prominent in various non-fiction books. They can captivate new visitors, boost domestic travel, and advertise the tourist destinations.

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Literary tourism happens when authors or their works of literature become so well-known that visitors are drawn to either the places where the authors were born, lived, or died, or the places where their works have been based (Busby & Klug, 2001). The practice of visiting locations linked to authors, characters, or works of literature is known as literary tourism.

This could involve going to an author’s tomb, a place where they currently live or once lived, the setting of a book, or even the path travelled by a fictitious character. Insofar as they may see or touch items or memorabilia connected with the authors (or their writings), visiting such locations enables literary admirers to interact with the authors they respect.

England is the most popular location for book tourists, and London and Stratford are well-known because of world-renowned Shakespeare. Shakespeare’s Globe is a contemporary recreation of the Elizabeth Globe Theater in Southward, London, which was the setting for several of William Shakespeare’s plays.

Key Takeaways from the Literary Tourism Market Study:

The North America and Europe regions hold a market share of ~18% and ~28% respectively.
The Covid-19 pandemic had a 45% impact on the value of the Literary tourism sector.
New Zealand, the USA, France, India, Japan, the UK, and Ireland are some of the most popular destinations for Literary tourism.
There is a growing international market for literary tourism which has, in part, been driven by links between literature, literary characters and film productions that embed characters in real or imagined places
Ratio of literary tourism in global tourism industry is less than 1%
Locations associate with authors birthplace; graveyard home are the most popular location types in the Literary tourism market.
Online booking channels lead the charts in Literary tourism market booking channel segmentation.

“Customer satisfaction and love for literature is competent for Tourism market.” – FMI Analyst said.

Impact of COVID-19

The tourism industry was one of the best-performing industries in many different parts of the world. The rise of the tourism industry was crucial for many nations’ economic progress. Many nations locked their borders and went into lockdown as soon as the COVID-19 pandemic was declared in order to stop the virus from spreading. Travel restrictions were in place, and only necessities like food and medical care were available during the pandemic.

The epidemic caused a great deal of damage to the tourism industry. There were no tourists at tourist attractions because everyone was in lockdown in their homes and transportation was suspended. The marketing industry for these places went out of business along with the tourism industry.

Following the pandemic’s halt, tour operations in the literary tourism industry increased. The consumer demand increased gradually before skyrocketing once the restrictions were completely abolished. Due to the repressed demand for travel, the businesses received a large number of customers right once, which helped the market’s condition and put it on a growth trajectory.

Who is winning?

The top businesses are able to maintain their competitive advantage in the industry by offering all-inclusive packages and saving travellers the effort of browsing multiple channels for their trips. Government investments and initiatives have helped firms improve their service offerings while also boosting the market.

The key players in the Literary tourism market are Intrepid, Explore, Exodus Travel, G Adventures, on the Go Tours and among others.

Literary Tourism Market by Category

By Type of Place:

Author-related
Fictional-related
Book-related
Festival related

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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BRICS Tourism Market to cross US$ 688.31 Bn by 2032, Says Future Market Insights

As per a recent market analysis by Future Market Insights (FMI), the BRICS tourism market is poised to reach a valuation of US$ 465 Billion in 2022. Sales are projected to increase at a 4.0% CAGR, with the market size reaching US$688.31 Billion by 2032.

The topic of expanding intra-BRICS tourism was discussed recently in the BRICS Tourism Ministers’ Meeting, which was presided over by Shri G. Kishan Reddy, India’s minister of tourism. Representatives from all the member countries attended the meeting, which acknowledged the COVID-19 pandemic’s effects and produced a thorough Ministers’ Communiqué.

Shri G Kishan Reddy emphasized that ecotourism, cultural tourism, nature and wildlife tourism specific locations may be utilized to improve visitor influx after the BRICS alliance for Green Tourism was adopted. The Sustainable Development Goals and sustainability will form the cornerstone of the new tourism strategy. In accordance with this strategy, measures will be implemented to promote renewable energy, product development, information sharing, and policy reform.

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Each of the BRICS countries has been recognized for their ability to grow the tourist sector, and experts in the field believe that the strategic alliance may one day account for the majority of the world’s tourism. In addition, the infrastructure and inbound tourist capabilities of China have been recognized. Brazil’s rich biodiversity significantly enhances its appeal as a travel destination. Russia and India are known for their strengths in cultural and heritage tourism, whereas South Africa is known for its beautiful terrain.

Key Takeaways from the Film Tourism Market Study:

Ratio of BRICS Tourism in global tourism market is 0.07%
The Covid-19 pandemic had a 0.9% impact on the value of the BRICS tourism Market.
Brazil, Russia, India, China and South Africa comes in BRICS Tourism Market
Cultural & Heritage Tourism, Medical Tourism, Eco/Sustainable Tourism, Sports Tourism, Wellness Tourism are the most popular Tourism types in the Brics tourism market.
Online booking channels lead the charts in Brics tourism market booking channel segmentation.

“The BRICS nations have decided to review their tourist policy, transition to renewable energy sources, and broaden information exchange which might impact on expenses from Tourists.” – FMI Analyst said.

Impact of COVID-19

The Travel & Tourism market has seen a decline in users and income as a result of the COVID-19 pandemic. Many travelers were discouraged from choosing foreign locations due to widespread ambiguity over infection and incidence rates as well as regional and/or national limitations. As a result, many began to travel within their own country, even if there was a general decline in the number of leisure trips. Many travel agencies provided free cancellations in an effort to lessen the pandemic’s detrimental effects. Currently, as nations begin to open up again, there are more options for both domestic and international travel. Within the following few years, we anticipate a modest market recovery.

Who is winning?

The top businesses are able to maintain their competitive advantage in the industry by offering all-inclusive packages and saving travellers the effort of browsing multiple channels for their trips. With the largest range of vacation packages, flights, hotels, vacation rentals, rental cars, cruises, activities, and attraction locations, it enables travellers to effortlessly plan and book their whole trip. Government investments and initiatives have helped enterprises improve their service offerings while also igniting the market.

The key players in the Brics tourism market are Thomas Cook, Cox and Kings, SOTC, Kesari Tours, Expedia, Signature Tours, Natripp and among others.

Global BRICS Tourism Market by Category

By Activity Type, Global BRICS Tourism Market is segmented as:

Cultural & Heritage Tourism
Medical Tourism
Eco/Sustainable Tourism
Sports Tourism
Wellness Tourism & Others

By Booking Channel Global BRICS Tourism Market is segmented as:

(OTA) Online Travel Agents
Traditional Agents
Direct Booking

By Tourism Type, BRICS Tourism Market is segmented as:

Domestic
International

By Tour Type, Global BRICS Tourism Market is segmented as:

Independent Traveler
Tour Groups
Package Traveler

By Consumer Orientation, Global BRICS Tourism Market is segmented as:

Men
Women

By Age Group, Global BRICS Tourism Market is segmented as:

15-25 Years
26-35 Years
36-45 Years
46- 55 Years
66-75 Years

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Tech Savvy Hotel Chains Market is Estimated to Reach at a US$ 220 Bn by 2032 | FMI

The global tech savvy hotel chains market to be appraised at US$ 53.5 billion in 2022, likely to reach US$ 220 billion by 2032 with a CAGR of 15% during the forecast period (2022-2032).

Hotel chains around the world are fast adopting the technological advancements that are crawling into the fast changing global hospitality scenario. Over the last few decades, several renowned brands of the hotel industry have successfully inducted technology into their daily operational flowchart. The long-term bonhomie has impacted the overall growth of the industry. Over the years the service levels in several plush hotels have surged due to the able use of technology.

The new breed of smart hoteliers is promoting digitisation to slash the recurring costs and also to table some of the state-of-the-art services to their elite customers through the best possible use of technology. Not only big properties, smaller players of the hospitality segment are also infusing effective technologies to enhance industry standards.

Tech-savvy hotel chains are slowly but steadily mushrooming around the world. The tech-savvy hotel chains are reaping the benefits of the technology and digital boom. Mass digitisation has created a huge platform for tech-savvy hotels. Proper use of technology has not only changed the brand image in the market, but it has also enhanced the global customer outreach. Social media is a powerful podium to share opinion and views and it also helps gauge the market behaviour to a large extent.

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Tech Savvy Hotel Chains: Game Changers

The proper incorporation of technology will have multiple effects on the demography of the fast changing hospitality industry according to market experts. In the last few years, the entire climate of the hotel industry has changed. The technological revolution has impacted the revenue outcome, successfully created a safer ambience for the boarders and also pulled up the service levels.

The technological advancement is the need of the hour. After a long haul, the hotel and hospitality industry has limped back to normalcy with the help of advanced technology. The massive IT boom around the world impactedthe upsurge of multiple tech savvy hotel chains across the world.

To survive in the competitive hospitality market, the incorporation of technology is a necessity. Tech-savvy hotel chains are earning an edge over the competitors as they are collecting more accolades from their customers and they are also slowly building a robust list of loyal customers for them with passing time.

The emergence of a huge pool of tech-savvy customers is also creating a massive opportunity for tech savvy hotel chains. Today’s customers are smart and they want fast and convenient services. To woo this massive base spread across the globe hotel chains are fast changing their existing strategies and doling out tech savvy measures to stay afloat in the market. In the last few years, several hotels across the globe have become the scapegoat of some of the deadliest terror attacks.

Tech Savvy Hotel Chains: Restraints

The organic growth of tech savvy hotel chains is blocked by the surging cost of hotel friendly technologies. Most of the medium level hotel chains cannot afford costly technological makeovers. The dearth of skilled manpower to handle technology is also plummeting the growth of tech savvy hotel chains.

Tech Savvy Hotel Chains: Bigwigs

There are several apps and advanced technologies which are presently dominating the hospitality segment. Radisson iConcierge app, LodgeNet service by Hotel Duval is equipped with 23-inch ICE (Interactive Customer Service), Hyatt Regency offers a gamut tech-savvy services to their customers. ARIA, Las Vegas is another hotel chain which provides some distinctive services to its customers.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

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Sustainable Tourism Market to surpass US$ 8.4 Tn by 2032, Says FMI

The sustainable tourism market is expected to grow at a 33.3% in 2022. As per the FMI analysis, the sustainable tourism market size will surpass US$ 1.0 Tn in 2022.

Between 2022 and 2032, the market is expected to exhibit compound annual growth rate (CAGR) of 23.4%. The share of global sustainable tourism market in the parent market (travel and tourism industry) is estimated to be at 2%-5%.

Sustainable tourism is the type of tourism that establishes an appropriate stability among the environmental, economic and socio-cultural features of the travel industry; it plays a vital role in preserving biodiversity. The primary objective of sustainable tourism is to reduce the negative impact of tourism on surroundings and local culture so that it will be offered for future generations, while funding to generate income, occupation, and the preservation of local ecologies.

Sustainability in tourism is an ethical practice in tourism similar to responsible tourism and ecotourism. Sustainable tourism has been in practice since 1992. Sustainable tourism is all about efficient technology, cleaner production, environmental protection and communal engagement. Sustainability is well-known amongst travel lodging amenities mainly trailed by tour agents as well as new destinations.

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Sustainable Tourism: Drivers and Opportunity Areas

Largely, a sense of accountability towards the environment with an addition to the socioeconomic wellbeing of local societies amongst tourism operators is fuelling the demand for sustainable tourism all over the globe.

The other drivers that trigger the need and requirement of the sustainable tourism segment include growing awareness towards securing the natural and traditional habitat of the destination concerned as well as a shift in the mindset of many travellers from traditional travelling concerns such as price, brand, quality, and convenience towards social, cultural and environmental issues that are significant to the places they holiday.

Sustainable tourism is still an emerging concept and many regions are not aware of this type of tourism; hence enormous opportunities including covering many untapped areas and the fusion of sustainable tourism with ethno-tourism and eco-tourism are coming up as possible opportunity areas for sustainable tourism in the global tourism industry.

Sustainable Tourism: Trends

The millennial and baby boomer generation of travellers is more inclined towards sustainable tourism and their preferred destination seems to be South Africa. Holidaying in places with an abundance of natural habitat and ensuring eco-friendliness is becoming an emerging trend among the tourists during their sustainable travel; travellers enjoy the ecstasy of the natural habitat of a place without causing any discomfort to the local plant, animal and bird species or human localities.

Nowadays there is a trend of undertaking a fusion vacation of sustainable tourism with eco-tourism. Another noticeable trend encountered is the transformation of sustainable tourism from a holiday trip to social work. Among the young generation of tourists, sustainable tourism is a growing trend where they are ready to pay more for sustainable brands that display commitment or dedication to environmental and social values.

The trend among tourism operators to practice sustainable tourism is growing as travellers are demanding more creative and responsible holidays. In fact tourists prefer buying services and products from the vendors who are dedicated and practice programs on giving or paying back to society.

Sustainable Tourism: Restraints

However, there are certain factors that are hindering the growth of the sustainable tourism segment such as a limited audience or travellers as this concept of tourism is not very comfortable and luxurious to most travellers. Another restraint is less awareness among global tourists about sustainable tourism, as some travellers prefer highly comfortable and luxurious vacations and look for such options only.

Many tourists do not find this concept relevant, and changing their mind-set in favour of sustainable tourism is another challenge for the sustainable tourism segment.

Sustainable Tourism Market: Options

There are numerous destinations where sustainable tourism is practiced and most of them are at the destinations of natural habitat. Sustainable tourism is largely practiced in the regions of Africa, India, and Brazil among others.

Major destinations where sustainable tourism is advocated and practiced include National Park, Marine Park, National Reserve, Marine Reserve, Wildlife Sanctuary, State Forest, Local Authority Forest, Sacred Forest, Wildlife Conservancy, Game Ranch, Beach, and World Heritage Site among many others.

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Market by Category

By Type (% of Demand), Sustainable Tourism Market is segmented as:

Ecological Tourism
Eco Tourism/ Green Tourism
Soft Tourism
Community Tourism

By Booking Channel (% of Demand), Sustainable Tourism Market is segmented as:

Phone Booking
Online Booking
In Person Booking

By Consumer Orientation (% of Demand), Sustainable Tourism Market is segmented as:

Men
Women

By Tourism Type (% of Demand), Sustainable Tourism Market is segmented as:

Domestic
International

By Tourist Type (% of Demand), Sustainable Tourism Market is segmented as:

Independent Traveler
Tour Group
Package Traveler

By Age Group (% of Demand), Sustainable Tourism Market is segmented as:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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Frozen Meat Grinder Market Size, Share Production and Consumption Analysis With Forecast To 2032

According to the recent Future Market Insights (FMI) report, the sales of frozen meat grinders are expected to surpass a value of US$ 1,892.5 Mn in 2032, rising at a CAGR of around 5.4% through the end of 2032.

Growing meat consumption coupled with rising demand for more meat options, such as humanely raised, free-range, organic, and sustainably grown meat is fuelling the growth. These types are more expensive than regular meat, and the cutting and processing of the meat products must be handled by professionals. Advanced automatic meat grinders are in high demand in industrialized countries due to the strong demand for high-quality meat products with minimal waste.

Meat production is an important part of the world economy, with considerable contributions to local, national, and international trade. The expansion of the meat market is intimately linked to the number of slaughterhouses and meat consumption. Meat demand will expand dramatically as consumers in emerging countries gain more purchasing power, providing a valuable source of high-quality protein in many people’s diets.

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Commercial frozen meat grinders are made to meet the needs of commercial meat markets that want to offer the best-minced meat to their customers. Due to factors such as the rising popularity of meat products and the simplicity with which they can be processed, the market for meat grinders is likely to rise rapidly during the forecast period.

Key Takeaways from the Frozen Meat Grinder Market Study:

Europe and North America is expected to hold significant portion of the frozen meat grinder market global share.
In terms of equipment, countertop will dominate the global frozen meat grinder market through 2022 & beyond.
India and Australia are expected to lead the growth in South Asia and Oceania frozen meat grinder market.
The U.S. will vanguard the sales in North America frozen meat grinder market owing to the growing consumption of meat products.

“Growth is attributed to rising awareness of food safety in emerging economies such as India and China, as well as increased demand for processed beef products. Using a frozen meat grinder, large pieces of meat are mashed into a smaller, more manageable paste. They are generally used in the home kitchen or in professional butcher shops, and they are available in both floor-model and countertop models.” said a lead analyst at FMI.

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Who is winning?

Key players in the global frozen meat grinder market are adopting a slew of strategies to reach expand their consumer base, including product development, marketing, and promotional efforts, distribution channel strengthening, and sustainable production.

Increasing spending on convenience and ready-to-eat food, improved designs blades grinder of commercial meat grinders, and an increasing number of supermarkets offering meat products.

Some of the leading companies offering equipment are Barsso, ERBEL GmbH, GEA Food Solutions, Paul Kolbe GmbH, Hobart, Skyfood Equipment, Minerva Omega Group, BIRO Manufacturing, ITW Food Equipment Group, KitchenWare Station LLC., LEM Products, and others.

Market Segments Covered In Frozen Meat Grinder Market Analysis

By Equipment Type:

Floor-Model
Countertop

By Types:

Semi-Automatic
Automatic

By Type:

Restaurants and QSRs
Slaughter House
Pet Food Processing Industry
Catering & banqueting

By Power:

Supermarket
Specialized Tool Shop
Ecommerce

Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Frequently Asked Questions

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Wheat Fiber Market Research Report- Opportunities and Challenges With Completely Different Segments, Forecast- 2032

The global wheat fiber market is set to witness growth at a CAGR of 7.4% and is anticipated to reach a valuation of around USD 3.5 Bn by 2032.

The changing perspective of natural food ingredients among consumers can be seen in their purchasing habits. The health benefits of natural products are the most important factors driving increased demand and, as a result, the growth of the natural ingredients market. Natural ingredients are becoming increasingly popular among customers.

The reason for this is that an increasing proportion of the population suffers from various diseases and is allergic to synthetic ingredients. Customers prefer wheat fiber because they are made from natural ingredients that improve health and well-being. As a result, the growing demand for ingredients derived from natural sources such as wheat is expected to boost the use of wheat fiber in a variety of food products.

Consumers want to know how their food is made, where it comes from, and how good the ingredients are. Consumers are demanding transparency as they become more aware of the harmful effects of added chemicals and pesticides.

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To ensure food safety, consumers are tracing the journey of their food from source to consumption using technology. The recent focus on food safety issues has raised consumer awareness of potential safety risks in the products they consume, fueling increased demand for traceability. Labeled products are provided by Cargill, Incorporated and Ingredion Incorporated to meet market trends and consumer demands.

Key Takeaways from Market Study

The market is segmented based on nature, wherein the conventional wheat fiber is anticipated to account for around 89% of the market share over the forecast period.
The North America wheat fiber market is anticipated to dominate the global market with a market share of around 27.0% in 2022.
On the basis of type, soluble wheat fiber is expected to hold a market share of 62% in 2022, which is also expected to witness a lucrative growth rate over the forecast period.
Obesity has nearly tripled worldwide since 1975, according to the World Health Organization. Obesity and health problems associated with being overweight kill more people than underweight issues in the majority of the world’s population. It was also discovered that 39 percent of adults aged 18 and up were overweight in 2016, with 13 percent obese. Obesity can be avoided by limiting overeating and adhering to a healthy diet. Soluble wheat fibers can help you lose weight by reducing your appetite and calorie intake.

“The key players operating in the global wheat fiber market are focusing on partnership, collaboration, acquisitions, and mergers, with regional and local manufacturers and distributors to increase the products’ penetration and revenue of the company.” says a Future Market Insights analyst.

Competitive Landscape

Leading wheat fibre producers are attempting to expand their footprint across promising areas by introducing new products, increasing production capacity, developing strategic partnerships with existing players, and acquiring small-scale producers. The following are some noteworthy market developments:

Cargill, Incorporated invested USD 35 million in a Cargill plant in Europe in October 2019 to produce soluble fibres that meet consumers’ demand for healthier products. The investment was part of the company’s ongoing efforts to provide on-trend solutions, and it marked the company’s first foray into soluble fibres in Europe.

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Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global wheat fiber market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Wheat fiber Market by Category

By Nature, Wheat Fiber Market is Segmented as:

Organic
Conventional

By Type, Wheat Fiber Market is Segmented as:

Soluble Wheat Fiber
Insoluble Wheat Fiber

By End-use Industries, Wheat Fiber Market is Segmented as:

Food & Beverages
- Bakery Products
- Confectionery
- Sauces, Soups, and Dressings
- Jams & Jellies
- Meat Products
- Others
Dietary Supplements
Personal Care & Cosmetics
Animal Feed
Pharmaceuticals
Others

By Region, Wheat Fiber Market is Segmented as:

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

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Frequently Asked Questions

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About FMI

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