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Replacement Sheet Market is projected to Generate Huge Profits by 2030

[240 Pages] According to a recent study by Future Market Insights (FMI), the global replacement sheets market was valued at over US$ 111.9 Mn in 2020 and is expected to exhibit a CAGR of 4.6% over the forecast period.

Sales of replacement sheets stagnated to an extent due to the lockdown restrictions imposed to contain the novel COVID-19 outbreak. However, with a persistent rise in medical procedures related to COVID-19 and other disorders, demand for replacement sheets grew at a 4.3% CAGR in 2020.

Expedited vaccine drives, resumption of production and logistics, and growing preference for retail through online channels are anticipated to positively shape the sales outlook for replacement sheets over the assessment period.

Replacement sheet based patient transfer is one of the crucial methods to change/move patient’s position within healthcare settings. Usage of these sheets ensure that the patient transfer is easy and safer. Moreover, it is the most comfortable method of patient handling for healthcare professionals and the patient.

The geriatric population is most likely to undergo old-age mobility disorders. For example, as per the World Economic Forum, Japan has the title for having around 29% of the largest geriatric population over 65 years out of the total population in mid-2020.

Key players operating in the replacement sheets market are investing in research and development top launch products with different technologies. This is indicative of the emergence safe and high-quality products that would minimize patient’s complications, resulting in lucrative growth prospects for regional and global market players.

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Key Takeaways from Market Study

The turn sheet segment is expected to gain 1.6X revenue in the market by 2031.
Based on end-users, the hospital segment accounted for more than 28% of the market share in 2020.
The U.S. is projected to dominate the North America replacement sheets market, capturing 81% of the total market share in 2021.
Replacement sheets market in Germany is anticipated to expand at a 5.3% CAGR over the forecast period.
The U.K. is expected to emerge as a lucrative market, growing at a 4.3% CAGR through 2031.
China will remain an attractive pocket, commanding over nearly half of the East Asia replacement sheets market share in 2021.
Sales of replacement sheets in Japan are projected to grow at a 4.0% CAGR, while South Korea holds 19.0% of the East Asia market share currently.

“Government initiatives adopted to improve the healthcare infrastructure in developing economies, coupled with rising demand for affordable and safer patient repositioning equipment will continue providing tailwinds to replacement sheets sales over the forecast period,” says the FMI analyst.

Competitive Landscape

To gain a competitive edge in the global replacement sheets market, key market players are investing in strategic collaborations, mergers, and acquisitions. Apart from this, players are focusing on new product developments to deliver safer and convenient options to ensure patient’s comfortability and safety in both existing and new markets. For instance:

Etac, in July 2019, acquired a 70% stake in the US Company, HoverTech International, to strengthen its position in the patient handling segment in the US market.

More Insights into the Replacement Sheets Market Report

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global replacement sheets market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on replacement sheets segment based on product (slide sheet {disposable slide sheets and reusable slide sheets} and turn sheet {disposable turn sheets, reusable turn sheets and air transfer gliding sheets}), end user (hospitals, ambulatory surgery centres, long term care centres, skill nursing facilities, assisted living facilities and others) across seven major regions.

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Report Scope as per Replacement Sheets Industry Analysis

Attribute	Details
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	US$ Mn for Value and Volume
Key Regions Covered	North America, Latin America, Europe, South Asia East Asia, Oceania, and Middle East & Africa
Key Countries Covered	US, Canada, Brazil, Mexico, Germany, U.K., France, Italy, Spain, Benelux, Russia, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, China, Japan, South Korea, Australia, New Zealand, Turkey, South Africa, and GCC Countries
Key Market Segments Covered	Product, End User, and Region
Key Companies Profiled	Hill-Rom Services, Inc. Etac AB HoverTech International EHOB Inc. Vendlet ApS Arjo- Getinge Group Stryker Corporation

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 9-years.

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Home Infusion Therapy Devices Market is projected to total US$ 3.8 Billion by 2031 | FMI

According to a recent study by Future Market Insights (FMI), sales of home infusion therapy devices are expected to top US$ 2.0 Bn in 2021, growing at a CAGR of over 6.5% during the forecast period (2021-2031).

Home infusion therapy devices are used for the intravenous administration of medicines. It is commonly prescribed for patients with serious infections and specialized diseases when orally administered medicines are not or comparatively less effective.

Application of home infusion therapy devices is increasing with the rising number of surgeries conducted across the globe. Post-surgery pain management at home can be done with the help of home infusion therapy devices.

Besides this, rising healthcare expenditure and growing awareness regarding the risk and infection amidst the outbreak of COVID-19 is driving the demand of home infusion therapy devices.

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Key Takeaways from Home Infusion Therapy Devices Market Study

By product type, infusion system accessories will hold around 45% of value share globally.
Based on the application, antibiotic administration is leading with over 34% of the market share.
Home care settings sales will dominate the home infusion therapy devices, with a market share of 65% during the forecast period.
By region, the U.S. will dominate the global home infusion therapy devices market with a value share of around 37% during the forecast period.
Followed by North America, Europe will be the second-largest leading region, with a value share of 93.2% during the forecast period.
India is the dominant country in term of revenue for South Asia Home infusion therapy devices market, accounting for nearly 48% of market share in 2021.
China holds leading position in East Asia and is expected to account for nearly 52% of market share.

“Growing prevalence of chronic diseases such as diabetes and cancer in the midst of COVID-19 pandemic and high risk of infection across hospitals encouraged key players to invest in new product launches. This is expected to enable growth in the market in the coming years” says a FMI Analyst.

Who is Winning?

Key players are focusing on new product launches and approvals. Other growth strategies adopted by leading players include, agreements, and collaborations among key manufacturers. By focusing on these strategies, key players are expanding their geographic presence and strengthening their existing product portfolio.

For instance,

In June 2019, Baxter International Inc. announced that Myxredlin that is the first and only ready-to-use insulin for IV infusion get the US FDA approval.
In Jan 2019, Fresenius Kabi AG launched two colourful bags via white spiral cables to supply the nutrient solution for parenteral nutrition.
In April 2017, B. Braun Melsungen AG announced the launch of home infusion therapy App named Easypump® for healthcare professionals and patients.

The key market players profiled by FMI include Becton, Diciknson & Company, B.Braun Melsungen AG, Baxter International, Fresenius Kabi, Terumo Corporation, ICU Medical, Nipro Corporation, Smiths Medical, Micrel Medical Devices SA, Moog Inc., JMS Co.Ltd., Intera Oncology, and Others Top-up.

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Home Infusion Therapy Devices Market by Category By Product Type:

Disposable Elastomeric Pumps
Insulin Pumps
PCA Pumps
Electronic Ambulatory Pumps
Infusion System Accessories

By Applications:

Enteral Nutrition
Parenteral Nutrition
Chemotherapy
Antibiotic Administration
Others

By End User:

Home Care Settings
Long Term Care Centers

About FMI:

Saudi Arabia Hajj Tourism Market is Likely to Surge at a Vigorous 7.0 % CAGR in 2032

The saudi arabia hajj tourism market is projected to reach a valuation of US$ 150.0 Billion in 2022, likely to surge at a vigorous 7.0 % CAGR from 2022 – 2032

The Hajj is an annual journey to Mecca in Saudi Arabia and is the world’s largest mass gathering. All the physically and financially able grownup Muslims make Hajj at least once in their lifetime.

Around two million Hajjis travel to Saudi Arabia during September to visit Islam’s holiest places, Mecca and Medina. Earlier, Hajj was a simply a traditional ritual in the Islamic world, but in recent days it has become a tourism destination because of the facilities evolved over the last few years.

The Hajj signifies main tourism prospect for both national and international stakeholders, mainly tour operators and hotel groups. The Saudi Arabia government is also supporting this holy gathering by investing in hotels and renovating ancient religious sights. To promote Hajj tourism globally a landmark hotel named as Abraj Kudai Hotel is in the pipeline – this hotel is anticipated to be the world’s largest hotel with 10,000 rooms.

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Hajj is emerging as a perennial flow of religious tourists and is a primary source of revenue generation from international pilgrims from countries with a large Muslim population. Domestic pilgrims are also contributing to the revenue generation. Some of the international pilgrims come from countries such as India, Indonesia, Nigeria, Morocco, and Algeria among many other Muslim countries.

Saudi Arabia Hajj Tourism Market: Drivers and Opportunities

Mainly, factors such as religious faith or established rituals to follow among spiritual Hajjis and the growth in per capita income are driving Saudi Arabia Hajj Tourism Market by bringing Hajjis from all over the globe. The other drivers that trigger the demand for Hajji Tourism in Saudi Arabia are the comforts and facilities built for the devotees, ease in travel and accommodation. Besides, many historical monuments are renovated by the Saudi government which become add-on tourist spots and major attractions for the pilgrims.

Saudi Arabia Hajj Tourism Market is an enormous opportunity for travel and hotel industry for future business prospects. Some opportunities listed are many domestic and international airlines including Qatar Airways, Qatar’s Al Maha airlines that provide their services on domestic and international routes, and this will increase the competition.

The rise in the volume of national and international Hajjis propell the demand for accommodation thereby boosting hotel rentals. Backpack concept in areas such as Riyadh, Jeddah and Medina is also coming up as a possible opportunity with a business and facility point at Hajj Tourism within the Saudi Arabia tourism industry.

Saudi Arabia Hajj Tourism Market: Restraints

As Hajj is practiced from ancient time and is a tradition in Islamic region, persistence in the visit by devotees can be seen significantly, but some factors such as lack of facilities, chances of accidents, and lack of travelling provinces are slowing down the volume of pilgrims to an extent.

Although the government and private sector have taken many initiatives to overcome the hindrances to some extent, certain restraints such as large rental car booking, shortage of rental vehicles, over occupancy of accommodation, serious crowding of the places and unorganised facilities hinder Saudi Arabia Hajj Tourism Market.

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Saudi Arabia Hajj Tourism Market: Options

As per the 2013 Saudi Tourism and Antiquities Committee (SCTA) count, there were around 160 tour agents in Saudi Arabia catering only to religious tours mainly Saudi Arabia Hajj Tourism Market.

Some of the prominent Hajj tour operators who provide their services to tourists across the world include Flynn’s Company LCC Accor KSA, Al Tala’a International Transportation Co. Limited, Fly Dubai Saudi Arabia, Al Tayyar Travel Group, Zamil Travel, Avis Saudi Arabia, Zahid Travel Group, Boudl Hotels & Resorts, Wyndham Hotel Group Saudi Arabia, and Europcar Saudi Arabia among many others.

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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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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Unit No: 1602-006
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United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
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Cultural Travel Market is Estimated to be Valued at US$ 462.50 Million in 2022 | FMI

The global cultural travel market size is expected to reach US$ 559.30 Million by 2032. The cultural travel market is growing rapidly.

As per FMI Analysts, the global Cultural travel market is estimated to be valued at US$ 462.50 Million in 2022 and is projected to increase at a CAGR of 6.54% in the forecast period from 2022 to 2032.

The developing tourism arena is flanked by millions of tourists. These tourists are gutsy and they are ready to extend their horizon of knowledge. The cultural travel segment is one such segment of tourism that ushers in a huge pool of tourists who are eager to follow a new path and quench their indomitable thirst for knowledge. Cultural travel is a perfect platform for gaining knowledge about any place.

Most of the culturally rich countries are promoting this extremely rich mode of tourism for the last few years. Cultural tourism is not only feeding the wanderlust of tourists, but it is also a correct medium to preserve some abrogating cultures spread across the globe. Cultural travel is a marriage of the past and present.

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Through cultural travel, countries are not only benefitting their tourism economy, but they are also providing a befitting platform to showcase a particular culture. By curating a proper cultural travel network the cultural branding of a particular property or location can attract immediate media attention.

Recent studies have clearly highlighted the evolving spending pattern of cultural travelers, who spend approximately 37 percent more on their travel than the normal globetrotters. Hotels and luxury properties also earn more as the cultural tourists tend to extend their stay in a cultural locale. The emerging trend of experimental tourism is also redefining the contours of cultural travel.

Cultural Travel: Game Changers

The growth of cultural travel is backed by the all-round development of the tourism industry. The cultural travel sector is also extremely benefitted by the slew of promotional measures doled out by several governments to promote dimming cultures. The emergence of a new army of tourists who are opulent, educated and aged is also providing adequate fodder for the development of cultural travel.

Cultural Travel: Restraints

The phantom of terrorism is diminishing the global surge towards cultural travel. Several cultures have been badly fractured by the wrath of terror unleashed on them over the last few years. Natural disasters and the swelling number of millennial tourists are also barricading the organic growth of cultural travel as a potential tourism experience.

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Cultural Travel: Bigwigs

There are several institutions and travel agencies that organise tailor-made cultural tours. Government aided tours are also organised in different parts of the world with the sole intention of promoting and nourishing a particular culture.

Key Segments Profiled in the Cultural Travel Market

By Type:

Domestic cultural tourism
International cultural tourism

By Category:

Cultural eco-tourism
Indigenous cultural tourism
Socio-cultural tourism

By Region:

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

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Tech Savvy Hotel Chains Market is Expected to Expand 15% CAGR in 2032 | FMI

The global tech savvy hotel chains market is likely 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).

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.

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.

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.

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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.

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Wildlife Tourism Market is Growing Rapidly Due to COVID-19 Effect has Reduced Significantly

The wildlife tourism market is expected to reach US$ 219.9 Billion in 2032 and anticipated to grow at robust 5% CAGR during 2022-2032

During the visit to wildlife destinations, tourists contribute to the improvement and conservation of the conditions of wild animals. Wildlife tourism also improves the life of the local tribes, as when tourism flourishes, they get opportunities of improved livelihood. Continuous flow of tourists keep the poachers away from killing endangered species of animals. When tourists visit wildlife sanctuaries certain amount of entrance fee is charged from them.

Wildlife tourism – or observing wild animals in their own habitat – is a critical part of the tourism industry in Australia, America, Africa, Canada, Indonesia, Maldives and Sri Lanka.

Wildlife tourism includes interaction with wildlife in the form of photographing and watching animals in their very own habitat from a long distance. Wildlife tourism comes under the category of adventure tourism while supporting the core values of nature conservation and eco-tourism.

This money is directed towards animal conservation programmes. However there are some negative impacts too. The disturbance is always high when tourists approach the wildlife very closely to take photos. Also, the breeding patterns of animals may also get disturbed due to constant pressure of tourists to take photographs of animals with their young ones.

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Wildlife Tourism: Drivers

As the entry fee charged from tourists is invested in the conservation of animals, more and more tourists are willing to re-visit wildlife sanctuaries and are ready to pay extra as entry fees, just to ensure animal life conservation. In addition to merely watching animals, tourists are also aware of the various fauna and flora species, which attracts them to wildlife tourism, which is consequently driving the growth of the wildlife tourism sector.

Lot of infrastructural development in and nearby wildlife sanctuaries such as hotels, guest houses and eco-tourism villages and jungles are also attracting a large number of tourists. So now tourists not only visit national parks and wildlife sanctuaries to see animals but also for relaxation which they get by being away from the hustle and bustle of city life. Due to better infrastructural development movie shootings also take place in nearby areas which attract local travellers and this fuels the growth of wildlife tourism.

Many schools arrange trips in wildlife sanctuaries to introduce students to the flora and fauna in sanctuaries. Besides, wildlife photographers who keep visiting the sanctuaries also create robust development in the sector of wildlife tourism. Many wildlife sanctuaries are famous for tigers. Ranthambore wildlife sanctuary and Kanha National Park in India are among the few sanctuaries where tourists can get very close to tigers.

Many tourists frequently visit these sanctuaries just to see tigers and this is boosting the global wildlife tourism sector.

Famous Wildlife Sanctuaries Across the World

Lone Pine Koala Sanctuary in Brisbane, Australia, Chengdu Moonbear Rescue Centre in China, Noah’s Ark in Georgia, USA, Corbett National Park in Uttarakhand, India are some of the famous wildlife sanctuaries across the globe.

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Key Segments Profiled in the Wildlife Tourism Market

By Wildlife Tour Types:

Forest Wildlife Tours
Marine Wildlife Tours

By Age Group:

15.25 Years
26-35 Years
36-45 Years
46-55 Years
66- 75 Years

By Tourist Type:

Domestic
International

By Tour Type:

Independent Traveler
Tour Group
Package Traveler

By Consumer Orientation:

Men
Women
Children

By Region:

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

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Punnet Market Trends, Growth, Future Demand, Analysis and Forecast by 2032

According to a market study by Future Market Insights (FMI), the demand for plastic punnets increased among end users with growing consumption of packaged fresh food. However, due to growing environmental concern, manufacturers and end users are adopting sustainable packaging formats to preserve nature and ensure maximum product shelf life.

To capitalize on this existing trend, some of the manufacturers are developing PCR material based punnets and are also developing alternatives to plastic punnets such as cardboard, paper and molded fiber punnets.

For instance, leading manufacturer, Smurfit Kappa Group identified that globally around 95% of all plastic packaging is used for single time and then converted into waste by discarding all of them.

This increased the litter and ultimately landfills. Hence, demand for paper based punnets is expected to increase as they are completely recyclable and reduce the plastic waste.

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Meanwhile, Westpack Group Ltd. recently launched cardboard based punnets which are heat sealed. This innovation will minimize long-standing dependency of grocery manufacturers on plastic punnets for commercial heat sealing process. The company is offering set of commercially viable paper based alternative to plastic punnets.

As these paper or cardboard punnets are also good in absorbing moisture, FMI anticipates that they will witness astonishing growth, accelerating the demand in the global punnet market over the coming decade.

Key Takeaways from Punnet Market
The plastic punnet segment is estimated to create an incremental opportunity of US$ 529.4 Mn during the forecast period.

The fresh food produce segment will witness robust growth at a CAGR of 6.5% in the forecast period.

North America punnet market is to anticipated to hold nearly 25% of the global market share during the forecast period.

South and East Asia are anticipated to be the most attractive region for the punnet market during the forecast period.

China and the U.S are expected to dominate the East Asia and North America punnet market, respectively.

“Adoption of sustainable material with ~100% recyclability which can increase the shelf life of fresh produce with attractive print on the punnet is increasing. This is expected to create lucrative growth avenues in the market over the coming decade” –FMI Analyst

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Need to Increase Shelf Life of Fresh Produce to Accelerate Demand for Punnet Packaging
The punnet market is poised to expand with rising demand for products with longer shelf lives. It takes time for packaged food to reach consumers across the globe after it is packaged. As a result, the packaged food may not be fresh, and its aroma and taste may be lost before it reaches the consumer. Hence, to keep the packaged food and fruits more fresh, adoption of punnets is increasing.

Further, packaging industries are investing in technologies and various new packaging techniques, such as intelligent packaging to increase the shelf life of the product. Punnet packages’ enhances the shelf life of fresh goods for longer period of time. This is creating growth opportunities for punnet manufacturers.

Punnet Market Landscape
Leading players operating in the global punnet market include Smurfit Kappa Group Plc, LC Packaging International BV, Coveries Holding SA, T&B Containers Ltd, Tacca Industries Pty. Ltd., Raptis Pax Pty. Ltd., INFIA srl, Quinn Packaging Ltd., Groupe Guillin SA, Paccor Netherlands BV, Leeways Packaging Services Ltd., AVI Global Plast Private Limited, Royal Interpack Group, Alta Global Inc. and Ilip S.r.l.

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Punnet Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global market for punnet market by material type (paper, plastic, molded fiber punnets), by capacity (Up to 150 gm, 151-330 gm, 301-500 gm, above 500 gm), by application (fruits and vegetables, meat poultry and seafood, frozen food, Ready-to-Eat), by end use (retail outlets, hotels, restaurants and cafes, household).

Cans Market Report | Size, Growth, Demand, Scope, Opportunities and Forecast 2022-2032

As per FMI, the global cans market is projected to reach US$ 51.6 Bn in 2032 and exhibit growth at a CAGR of 3.8% in 2022-2032. The market is estimated to reach a valuation of over US$ 35.6 Bn in 2022.

Cans are best suited for preserving food as it prevents growth of microorganisms that cause foodborne illnesses. Being 100% recyclable, food cans are expected to be the ideal packaging choices for manufacturers across the globe. They are nowadays emphasizing sustainable packaging solutions.

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The aluminum segment by material type is estimated to generate a dominating market share throughout the forecast period. Growth is attributed to its extensive use in various end-use industries such as beverages, pharmaceuticals, cosmetics & personal care, and homecare products. According to the Environmental Protection Agency of the United States (EPA), in 2018, about 1.9 million tons of aluminum packaging was generated from beers and soft drink cans and 49.2 percent of aluminum beverage cans were recycled. Hence, aluminum cans are estimated to dominate the market.

Key Takeaways from Cans Market

By material type, the aluminum segment is likely to create an incremental opportunity of US$ 13.1 Bn during the forecast period.
Based on end use, the beverages segment is expected to accelerate at a CAGR of 0% in the global cans market during the forthcoming years.
The China cans market is anticipated to generate a share of around 47% in the forecast period.
The India cans market is projected to register a CAGR of 0% during the forecast period.
The global cans market exhibited growth at a CAGR of 5% during the historic period of 2015-2021.

Global Cans Market Outlook By Category

By Material Type:

Aluminum
Steel/Tin Plated
Plastic
Paper Composites

By Capacity:

Up to 200 ml
201 – 750 ml
More than 750 ml

By End Use:

Food
Beverages
- Alcoholic Beverages
- Non-alcoholic Beverages
Healthcare
Cosmetics & Personal care
Homecare Products
Paints & Lubricants
Others Consumer Goods (Gifts, Toys, Merchandizing, etc.)

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“Government initiatives to ban single-use packaging options is expected to create new growth opportunities for cans manufacturers globally. Besides, high demand for easily recyclable and eco-friendly packaging options would drive the need for cans in the market,” says a FMI analyst.

Key Cans Manufacturers Are Prioritizing Sustainability

Participants in the global cans market are primarily focusing on adopting new packaging formats that would have less influence on the environment and generate relatively lower carbon footprints when converted into waste. Therefore, some of the manufacturers are taking initiatives and investing more on research & development activities to accelerate material or product innovations. Additionally, they are focusing on manufacturing new facilities for the recycling of scrap cans.

As per a recent report published by the American Iron and Steel Institute, steel food cans consist of the highest recycling rate out of all food packaging that is equivalent to 58%. This rate is significantly higher than alternative food packaging that includes plastic (13%), glass (33.9%), cartons (16%), and pouches (2%). Nearly 30,000 food cans are recycled every minute in the U.S. Steel cans made of recycled steel results in 75% less greenhouse gas emission than making food cans with virgin steel. Thus, FMI estimates that various initiatives by market players will significantly increase the demand for cans in the next decade.

Competitive Landscape: Cans Market

Some of the leading participants in the global cans market are Ball Corporation, Mondi Group, Novelis Inc., Crown Holdings, Inc., Silgan Holding Inc., Ardagh Group S.A, Orora Packaging Australia Pty. Ltd., the Olayan Group, Ardagh S.A., Canpack, CPMC Holdings Ltd., Bangkok Can Manufacturing ,Nampak Ltd., Mahmood Saeed Beverage Cans & Ends Industry Company Ltd,Kian Joo Can Factory Berhad, Swan Industries (Thailand) Company Ltd, GZ Industri, Toyo Seikan Co., Ltd. and Envases Group.

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Get More Insights on Cans Market

Future Market Insights, in its new report, offers an unbiased analysis of the global market for cans market by material type (aluminum, steel/tin plated, plastic, and paper composites), capacity (up to 200 ml, 201-750 ml, and more than 750 ml), end use (food, beverages, pharmaceuticals, cosmetics & personal care, homecare products, paints & lubricants, and others consumer goods), across seven regions.

Crates Market Current and Future Trends, Leading Players, Industry Segments and Regional Forecast By 2032 | Says FMI Analyst

The global crates market is projected to grow from US$ 5.2 Bn in 2022 to US$ 9.2 Bn by 2032, exhibiting a CAGR of 5.9% throughout the forecast period. Rising usage of crates across numerous end-use industries such as food & beverages, pharmaceuticals, automotive, and logistics is a key factor driving growth in the global crates market.

Crates are huge, robust containers that are useful in a variety of end-use industries. They are being increasingly used to transport products across various industries as they provide better protection and ventilation to the goods.

Similarly, rise in import/export trade activities across the world is anticipated to generate enormous demand for packaging solutions like crates during the next ten years.

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Demand is especially rising for plastic crates due to their low cost, easy transportation, and lightweight features. However, with rising environmental concerns, sales of wooden crates are likely to gain traction during the forecast period.

The expanding R&D initiatives related to crates design for effective transportation at cheaper costs are likely to boost the market growth. The use of crates in the booming import and export business around the world is expected to have a substantial impact on the crates market.

Regionally, demand for crates is likely to grow at a higher pace across developing nations because of rapid economic development and expanding manufacturing sector.

However, fire hazards connected with wood, plastic, or recyclable crates, as well as food safety problems associated with the usage of wooden crates are expected to have a negative influence market growth.

Key Takeaways from Global Crates Market

Based on material type, the plastic crate category is expected to hold almost 1/4^th value share in the global crates market.
By product type, collapsible crates segment is expected to grow at the fastest CAGR during the forecast period.
Based on end use, the food and beverages segment is anticipated to expand at 6.5% CAGR through 2032.
The U.S. crates market is projected to grow at a CAGR of 5% between 2022 and 2032, reaching a valuation of around US$ 892.4 Mn in 2022.
The Indian crates market is expected to grow at a CAGR of 6% during the projection period.

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“The global crate market is likely to witness significant growth over the projected period due to rapid expansion of food & beverages industry worldwide. Furthermore, HDPE crates are projected to be extremely profitable for crate makers.” –comments FMI Analyst

Food & Beverages Sector is the Key Driver of Global Crates Market

The food and beverage business has the highest demand for crates on the market. The rise of the food processing industry due to growing consumption of packaged foods is likely to play a key role in fostering sales of crates during the forecast period.

Due to increased beverage consumption around the world, crates are in great demand. 85.6 percent of Americans over the age of 18 have consumed alcohol at some point in their life, according to the 2019 National Survey on Drug Use and Health. Attributing to increasing sales of beverages, demand for partition crates for transportation of delicate glass beverage bottles is rising at a robust pace.

Global Crates Market by Category

By Material Type:

Plastic
- High-density Polyethylene (HDPE)
- Polypropylene (PP)
Wooden
Metal

By Product Type:

Stackable
Nestable
Collapsible

By End Use:

Food & Beverages
- Fruits & Vegetables
- Dairy Products
- Meat, Poultry & Seafood
- Others
Pharmaceuticals & Medical Devices
Automotive
Building and Construction
Logistics and Transportation

Who is Winning?

Key players in the plastic crate industry are concentrating on providing lighter-weight and more environmentally friendly crates. Some of these key players are Brambles Limited, Schoeller Allibert AB, NEFAB GROUP, Myers Industries, Inc., DS Smith PLC, Dynawest Limited, Craemer UK Ltd, SABIC, Supreme Industries Limited, Rehrig Pacific Company, Inc.

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Global Crates Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global market for global crates market by material type (plastic crate, wooden crate, and metal crate), by product type (stackable, nestable, and collapsible), by end-use (food & beverages, pharmaceuticals & medical devices, automotive, building and construction, logistics and transportation) across seven regions.

Tea Packing Machine Market Share by 2032: Upcoming Trends and Analysis

As per Future Market Insights (FMI), the global tea packing machine market size is estimated to be valued at US$ 811.4 Mn in 2022. Furthermore, with rising production and consumption of tea globally along with increasing need for improving production efficiency in manufacturing facilities, the overall sales of tea packing machines are slated to grow at 5.7% between 2022 and 2032, totaling around US$ 1,418.1 Mn by 2032.

Similarly, increasing adoption of the smart automated techniques for the tea packing is expected to fuel the sales of tea packing machines during the forecast period.

Tea packing machine is important as it acts as a responsible packaging solution. It helps in providing consistency in terms of taste, colour and volume of the tea. The efficient tea packaging ensures that the natural health of the tea is preserved.

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Manufacturers have increased usage of tea packing machines as they reduce the time and effort for the product packaging. Rising demand for ready to drink tea has also boosted the tea packing machine market.

The tea packing machine can be used for the production of application products such as pouches, bags, stick packs, sachets, bottles & jars etc. However, tea pouches are mostly used as they are more flexible and can be customized according to the requirement.

Key Takeaways from Tea Packing Machine Market

Based on machine type, form fill-seal equipment segment is estimated to grow at the rate of 6.0% CAGR during the forecast period.
By application, pouches segment is likely to grow at the fastest CAGR of 6.9% between 2022 and 2032.
The U.S. tea packing machine market is predicted to expand at 4.1% CAGR through 2032.
Tea packing machine market in China is likely to grow at the highest CAGR of 6.2% during the next ten years.
Demand for tea packing machines in India is slated to grow at 5.3% CAGR, totalling around US$ 94.2 Mn by 2032.

“The rising consumption and production of the tea is creating opportunities for the key players as end-use manufacturers are opting for the smart automated tea packing machines which can reduce the cost and increase the production efficiency” – says FMI analyst

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Tea Packing Machines Are Getting Traction as Smart Manufacturing Through Automated Machines

Manufacturers of the tea packing machines are focused on innovating existing packaging systems due to increased demand for the automated packing process. End-use industries are setting up automated packaging systems to increase production efficiency and reduce production costs.

Automated tea packing machines help in reducing the laborious task, saving time and eliminating errors. The smart manufacturing option presented by the tea packing machines has gained a significant advantage in the market. End-users are opting for smart tea packaging. Thus, tea packing machines are getting traction as smart packaging through automated machines is boosting the end use production activities.

Growing Count of Tea Flavours to Push the Demand for Tea Packing Machines

There are more than 1000 varieties of tea available worldwide, which are mainly classified as white, green, black or oolong. Tea is considered the second most popular drink in the world.

The customer base of tea is increasing due to increased demand for tea in emerging economies such as India or China. The consumption has increased the demand for the tea in different packaging such as stick packs, bags, sachets etc.

One of the reasons for the increased consumption is the easy availability of ready-to-drink tea. People are consuming ready-to-drink tea, as it does not need any sort of preparation and can be easily consumed. Thus, the growing count of the tea flavours and increasing customer base of the tea is increasing the demand for tea packing machines.

Who is Winning?

ACMA S.p.A., Omag srl, Teepack Spezialmaschinen GmbH & Company KG, Universal Pack S.r.l. and Omori Europe are the key players operating in the global tea packing machine market.

Also, some of the noticeable players operating in the tea packing machine space are I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A., Xiamen Sengong Packing Equipment Co. Ltd., Unitek Packaging Systems Private Limited, AVM Packaging Systems, A. P. Pack Solutions, Vista Technopack Machines, Synda Pack, Dopack, HANGZHOU YOUNGSUN INTELLIGENT EQUIPMENT CO., LTD, Nichrome Packaging Solutions., Nasa Corporation, Zirve International., Pavel Blažek, balicí stroje s. r. o., dph International GmbH, Spack Machine and others.

Most of these players are focused towards providing customized packaging solutions to end users. Besides this, they are adopting strategies such as new product launches, partnerships, mergers, and acquisitions to increase their revenue share and expand their global footprint.

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Tea Packing Machine Market by Category

By Automation:

Automatic
Semi-automatic
Manual

By Machine Type:

Form Fill-seal Equipment
Filling & Dosing Equipment
Cartoning Equipment
Case Packing and Sealers
Wrapping and Bundling Equipment
Palletizers

By Application:

Pouches
Bags
Stick Pack
Sachets
Bottles & Jars
Containers & Boxes
Cans

Tea Packing Machine Market Report

Future market insights, in its new report, offers an unbiased analysis of the global tea packing machine market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals market growth projections on the tea packing machine based on the automation (automatic, semi-automatic and manual), machine type (form fill-seal equipment, filling & dosing equipment, cartoning equipment, case packing and sealers, wrapping and bundling equipment and palletizers), and application (pouches, bags, stick pack, sachets, bottles & jars, containers & boxes and cans) across seven regions.