Anti-wrinkle Products Market Worth $29.77 Billion By 2025 | CAGR: 5.7%

 The global anti-wrinkle products market size is anticipated to reach USD 29.77 billion by 2025 registering a CAGR of 5.7%, according to a new report by Grand View Research, Inc. Growing geriatric population and rising disposable income are expected to propel the demand over the projected period. Asia Pacific has been the largest market for anti-wrinkle products. Rising awareness about physical appearance across countries, such as South Korea, Japan and India, have led to an inflated demand for anti-wrinkle creams and serums in the region. However, a major chunk of Asian population prefers natural and organic essential oils, such as sweet almond and geranium oil. Serums and oil-based products are witnessing high demand across the globe. Thus, manufacturers are focusing on the development of such products.

For instance, Kiehl’s introduced its night recovery concentrate, an elixir oil product infused with lavender oil to improve firmness and elasticity of the skin. Similarly, Clinique launched its repair serum suitable for all skin types to reduce puffiness and slower the aging process. Continuous product launches by the manufacturers with an aim to cater to various consumer-specific problems are expected to drive the growth of the global market. The industry is highly competitive in terms of product offerings and pricing. Major companies in the market are benefitted by their acknowledged buyer base and goodwill in the market. In recent years, the market has been experiencing several technological innovations, especially in the product formulation. Companies like L’Oreal, Innisfree, Allergen, Estée Lauder’s, and Beiersdof focus on improving the effectiveness of anti-aging creams, serums, etc. to attract more consumers.

To request a sample copy or view summary of this report, click the link below:

https://www.grandviewresearch.com/industry-analysis/anti-wrinkle-products-market

Further key findings from the study suggest:

• Asia Pacific anti-wrinkle products market is said to witness the fastest CAGR of 6.3% from 2019 to 2025 owing to growing disposable income levels and geriatric population in the region
• South Korea accounted for the highest market share in 2018 due to high R&D expenditure on technological advancements in the sector and consumer preference for organic products
• European countries, such as Italy and Germany are also likely to register healthy growth over the forecast period due to growing geriatric population base
• Hyper & supermarkets held the major share; while the online distribution channel will record the highest CAGR from 2019 to 2025 due to ease of payment and rise in digitalization of payments
• Manufacturers are focusing on achieving optimum business growth by implementing strategies, such as M&A, joint ventures, capacity expansion, product development, promotion of key product brands, and increased R&D investments

Brewer’s Yeast Market Size Worth $5.22 Billion By 2025 | CAGR: 8.0%

 The global brewer’s yeast market size is expected to reach USD 5.22 billion by 2025 at an 8.0% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Growing demand for by-products in animal feed is likely to augment market size.

Demand for feed supplements is anticipated to exhibit high growth over the coming years, on account of increasing awareness regarding proper animal nutrition and feed supplements. Use of natural additives and ingredients is becoming more widespread in animal feed, which will also aid in market growth. In addition, health benefits associated with brewer’s yeast, such as increasing animal well-being, production abilities, and enhancing intestinal flora, are driving product consumption in animal feed formulations. Animal feed brewer’s yeast is expected to support farmers in meeting this increased demand among consumers, thereby elevating the scope of the market. Research and development activities carried out by market players to provide consumers with efficient products are also expected to boost market growth.

Leading market players are channelizing their efforts for the development of new products and technologies with the help of advanced methods to effectively and efficiently manufacture yeast strains. On account of this, yeast and specialty yeast products are gaining importance among market players across the world. These companies are adopting and implementing various strategic plans to manufacture yeast and specialty yeast products.

Asia Pacific is the fastest-growing market for brewer’s yeast globally. The region is one of the largest animal feed producers in the world, which is expected to play a key role in boosting the utilization of brewer’s yeast-based animal feed in this region. China, India, and Japan are the major animal feed producers in Asia Pacific. Moreover, rising production of swine feed in emerging economies such as Indonesia and Vietnam is expected to have a positive impact on the market over the forecast year.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/brewers-yeast-market

Further key findings from the report suggest:

• By type, the dry yeast segment is anticipated to reach a market volume of 667 kilo tons by 2025, at a CAGR of 7.8% from 2018 to 2025
• On the basis of application, the feed supplement segment dominated the global brewer’s yeast market in 2017, with a revenue share of nearly 60.0%
• U.S. has been one of the largest importers of brewer’s yeast, globally; in 2013, the country imported over 38.9 kilo tons of brewer’s yeast, which has increased to a valuation of 144.2 kilo tons as of 2017
• Countries in Asia Pacific, most notably India, Indonesia, and China, are expected to observe commendable growth over the forecast period. In terms of revenue, the India brewer’s yeast market is anticipated to reach USD 164.8 million by 2025
• The global industry is characterized by capacity expansions, mergers and acquisitions, and substantial investments to improve the market share of manufacturers.
• Some of the prominent companies in the industry are Nutreco N.V.; Cargill Inc.; Lesaffre Group; Archer Daniels Midland Company; and Associated British Food Plc.

Micro Perforated Food Packaging Market Worth $1.96 Billion By 2025

 The global micro-perforated food packaging market size is projected to reach USD 1.96 billion by 2025 expanding at a CAGR of 5.7% during the forecast period, according to a new report by Grand View Research, Inc. Rapid growth of the retail sector is one of the key factors driving market growth.

Micro-perforated food packaging contains micro holes, which enable gas permeation to maintain the rate of respiration of food products. This packaging offers various advantages, including extended shelf life and moisture retention of food products. The immense growth of retail chains globally, attributable to shifting consumer preference toward convenience goods, is expected to drive demand for micro-perforated food packaging, globally.

North America was the largest market in 2017, due to increased import of fruits and vegetables and high demand for bakery and confectionery in the region. The North America micro-perforated food packaging industry is also driven by growing demand for lightweight packaging solutions for food products. This is complemented by recent consumer trends that have necessitated convenience in packaging products to facilitate their portability.

Asia Pacific’s grocery retail industry has been boosted by rising population and a dramatic increase in consumer spending. In addition, many large format retailers in this region have enjoyed considerable growth through expansions, despite facing increased rivalry from more developed countries. While countries such as India, Japan, and India have emerged as frontrunners in the food packaging industry in Asia Pacific, countries such as Singapore and Thailand have played a key role in consumption of packaging products, including micro-perforated food packaging materials.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/micro-perforated-food-packaging-market

Further key findings from the report suggest:

• In terms of revenue, the global micro-perforated food packaging market is anticipated to reach USD 1.96 billion by 2025, at a CAGR of 5.7% from 2018 to 2025
• By material type, polypropylene is expected to witness steady growth over the forecast period owing to increasing demand from food manufacturers
• On the basis of application, fruits & vegetables dominated the market with a revenue-based share of 48.1% in 2017, owing to significant demand from retail stores
• The competition is intense among key players owing to the fact that the products offered by manufacturers have low differentiation
• Some of the key companies present in the market are Sealed Air, Mondi, Bolloré Group, Amcor Limited, Uflex Ltd, TCL Packaging, COVERIS, Amerplast, NOW Plastics, and Aera.

Seafood Processing Equipment Market Size Worth $2.51 Billion By 2025

 The global seafood processing equipment market size is expected to value USD 2.51 million by 2025 at a 3.2% CAGR over the forecast period. The demand for seafood products and food, in general, is high in developed as well as in developing regions. This factor is expected to boost the global seafood processing equipment market by 2025. Government regulations to safeguard the manufacturing processing and to provide a framework for hygiene and standardization of products are anticipated to enhance business growth over the forecast period.

Increasing demand for fish and other seafood products with increasing investments to manufacture efficient units is predicted to encourage market growth in the near future. Increasing the industrial automation rate coupled with the easy availability of these units is predicted to encourage the expansion of the market for seafood processing equipment over the forecast years.

In terms of product, frozen seafood emerged dominant in 2017. It is forecasted to expand at a CAGR of 1.8% over the forecast period owing to advancements in processing technologies. Frozen seafood is expected to ramp up the production of seafood processing equipment over the next decade owing to the exponential growth in demand, particularly from Asia Pacific and Africa. However, canned seafood is expected to emerge as the fastest-growing product segment with a CAGR of 3.6% over the forecast period.

In terms of equipment, scaling equipment emerged dominant with a market share of over 22.07% in terms of value in 2017. It is expected to be the fastest-growing segment with a CAGR of 3.8% over the forecast period. Recent advancements in the machine and equipment sector are expected to revolutionize the industry and boost the market share further in the forthcoming years. It is expected to dominate the equipment segment of seafood processing equipment in the year 2017.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/seafood-processing-equipment-market

Further key findings from the study suggest:

• The U.S. seafood processing equipment market revenue is projected to expand at a CAGR of 2.1% over the forecast period
• Favorable regulations, along with the economic benefits offered by equipment manufacturers and distributors, are projected to boost growth by 2025
• The U.K. market, in terms of value, accounted for USD 107.08 million in 2017
• Scaling equipment is expected to have a significant CAGR of 2.5% during the forecast period
• India is among some of the prominent markets in Asia Pacific and is expected to reach USD 208.22 million over the forecast period owing to the significant rise in population and industrial development
• BAADER Group., GEA Group Aktiengesellschaft, Arenco AB, Marel, Uni-Food Technic A/S, SEAC AB, and Polar Systems Ltd. are some of the key players operating in the market.

Bioherbicides Market Size Worth $4.14 Billion By 2024 | CAGR 15.7%

 The global bioherbicides market size is expected to reach USD 4.14 billion by 2024, according to a new report by Grand View Research, Inc. The market is estimated to expand at a strong CAGR of 15.7% during the forecast period. Increasing preferences for organic farming along with rising consumption of eco-friendly weed control products is projected to drive the market in the near future.

Innovations in organic farming practices for sustainable crop cultivation are also expected to bolster the market growth over the forecast period. Shifting consumer preference toward greener and nutritional diet is fueling the demand for organically produced food grains and vegetables, which, in turn, will boost the market growth.

Bioherbicide products are also used in gardening, maintenance of golf courses, and clearing of railway tracks. This is expected to further contribute toward the industry development in the turf and ornament sector. Various regulatory norms and policies to promote organic farming are projected to increase product demand in the North America and Europe regions. However, the availability of cheap, chemical-based herbicides may hinder market growth.

To request a sample copy or view summary of this report, click the link below:
www.grandviewresearch.com/industry-analysis/bioherbicides-market

Further key findings from the study suggest:

• The global bioherbicides market was valued at USD 1.28 billion in 2016 and is anticipated to reach USD 4.14 billion by 2024, expanding at a CAGR of 15.7% over the forecast years
• Fruits and vegetables accounted for over 27% of the global industry in 2015 and emerged as the largest application segment due to extensive product usage
• North America led the global market in 2015 with a demand share of 29.5%. It is estimated to expand further on account of government initiatives and high consumer awareness about health and environmental issues
• Asia Pacific is anticipated to witness the highest CAGR of 16.1% in the coming years. Product demand in Australia is anticipated to significantly contribute to the growth of this region
• Key companies operating in the industry are Bioherbicides Australia (BHA); HerbaNatur Inc.; Hindustan Biotech Ltd.; Fitz Chem Corp.; Marrone Bio Innovations Emery Oleochemicals; Engage Agro USA; and Mycologic, Inc.

Adipic Acid Market Size Worth $8.0 Billion By 2024 | CAGR 4.7%

 The global adipic acid market size is projected to reach USD 8.0 billion by 2024, according to a new report by Grand View Research, Inc. The global market is projected to expand at a CAGR of 4.7% during the forecast period. Increasing product demand from the automobile industry for the manufacturing of lightweight vehicles is a prime factor responsible for the market.

Growth of the nylon 66 market is likely to have a positive impact on the adipic acid market demand in India. Nylon 66 accounts for a majority share in adipic acid’s demand. Rapidly growing consumer electronics industry in Asia is also one of the major factors contributing to industry development.

The Asia Pacific region holds excellent potential for market penetration as adipic acid’s supply in this region is disrupted owing to low spot prices.

Moreover, the region has a business-friendly atmosphere and is close to the nylon and polyurethane manufacturing industry. The product demand in this region is expected to reach 1,551.8 kilo tons by the end of the forecast period.

Adipic acid manufacturers are currently strategizing to physically position themselves between raw material supply hub and end-use industries to attain optimum growth and profit margins. Major adipic acid manufacturers and distributors operating around the globe include Asahi Kasei Corporation, BASF SE, Invista, Lanxess AG, and Ascend Performance Materials LLC.

To request a sample copy or view summary of this report, click the link below:
www.grandviewresearch.com/industry-analysis/adipic-acid-market

Further key findings from the study suggest:

• Global consumption for adipic acid was estimated to be 2,986.4 kilotons in 2016
• Oil price shocks in this industry are extremely evident as the economics of low crude oil prices have trickled down to the adipic acid value chain during 2015–2017
• Adipic acid manufacturers are capitalizing on cheap, abundant raw material currently present in the market. However, this is giving rise to overutilization in the industry further bringing down the prices
• Polyurethane is likely to emerge as the second fastest-growing segment over the forecast period accounting for a market share of 15.98% by 2025
• The market size estimated for adipic acid consumed for manufacturing nylon 66 fiber and resins was estimated to be around 2,600-kilo tons in 2016.

Fire Protection System Market Size Worth $114.9 Billion By 2028

 

Fire Protection System Market Growth & Trends

The global fire protection system market is expected to reach USD 114.9 billion by 2028, registering a CAGR of 6.8% over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing adoption of wireless technology in the fire protection system, growing human and property loss owing to fire breakouts, and stringent fire safety regulations are projected to fuel the market. Increasing implementation of building safety codes and renovation projects is also anticipated to be a major factor influencing the market growth. The application and usage of fire protection systems are anticipated to increase continuously with the developments of commercial entities and corporations.

Furthermore, technology enhancements, such as extinguishing technology based on mist and products, such as laser optical/infrared smoke detectors, alarms with embedded voice evacuation announcements, hypoxic air fire suppression systems, and wireless fire alarm systems, are expected to gain traction in the market globally. Moreover, in 2020, the market was adversely affected due to the COVID-19 crisis, which has interrupted production, impacted demand, and caused supply chain disruption. The growing trend of integrating fire alarm and detection systems with building automation systems offers vast growth opportunities to the market.

Connectivity with building automation systems is increasingly becoming a major feature of fire protection systems in commercial, industrial, and residential applications. This can be attributed to the fact that such integration allows for the development of systems that are capable of sharing and gathering data, which can help in alerting individuals about fire safety issues in the premises. A notable rise in investments in smart building automation technologies across several regions is expected to lead to new opportunities for building automation systems in the industrial and commercial sectors.

Consumers in developed regions, such as Europe and North America, have seen a steady rise in demand over the past few years, and the growth trend is also projected to continue over the next few years. However, a lack of stringent regulations and the high cost of advanced fire protection systems have kept the markets in emerging countries largely untapped. Nevertheless, improving economic conditions in countries, including Brazil and India, are anticipated to boost the demand for fire protection systems over the forecast period.

Infrastructural development activities across the Asia Pacific region owing to the rising demand for new transport and utility infrastructure will drive demand. The high rate of urbanization is placing increased pressure on under-invested, weak city infrastructure. The consecutive rise in focus on new residential and infrastructural development projects is expected to propel the demand for fire protection systems across this region; thus, such factors fueling the fire protection system market growth.

Request a free sample copy or view report summary:
Fire Protection System Market Report

Fire Protection System Market Report Highlights

• The fire detection product segment accounted for the largest revenue share in 2020 and is expected to retain the leading position over the forecast period
• The maintenance services segment is anticipated to register the fastest CAGR over the forecast period
• The demand for these services is often driven by new building construction activities, modernization activities, and demand for system upgrades
• The commercial application segment led the market in 2020 and is expected to retain the leading position throughout the forecast period
• Increasing investment by companies for reducing the loss of property & life and safeguarding the infrastructure across several applications is estimated to propel the product demand in the commercial sector
• North America is projected to account for the majority share of the market by 2028. The increasing demand for smart buildings and intelligent houses, which deliver optimum safety and security is expected to drive the regional market growth

Location Based Advertising Market Size Worth $224.40 Billion By 2027

 

Location Based Advertising Market Growth & Trends

The global location based advertising market size is expected to reach USD 224.40 billion by 2027, expanding at a CAGR of 17.4%, according to a new study conducted by Grand View Research, Inc. Growing digitalization initiatives among brands and advertisers to promote products and services, proliferation of GPS enabled smartphone usage, and increasing usage of social media and e-commerce sites are aiding the growth of the market for Location Based Advertising (LBA). Mobile applications with location based services have formed a direct link between brands and customers enabling high consumer engagement and increased sales. Moreover, technological advancements in network connectivity such as 5G, proliferation of new data sources, and use of analytics to gain consumer insights is likely to impact the market positively over the forecast period.

As per the recent mobile industry report, in 2020, around 3.5 billion people worldwide were smartphone users, which accounts to about 45% of the world’s population. Similarly, around 49% of the world’s population is active on social media platforms and is anticipated to grow at 8.5% annually. With growing internet, social media, and GPS enabled smartphone penetration, digital advertising has become a significant mode of advertising among marketers. Moreover, prominent players such as Google LLP and Facebook Inc. account for major digital advertisement share of the market and emerged as platform provider for advertisers. However, new players in social media arena are likely to pose competition to existing players owing to their increasing use of location based services for advertising purposes. For instance, in March 2018, Snapchat introduced location based advertisement targeting that will help advertisers to target advertisements based on a radius around a specific geographic area. Snapchat’s move is likely to be followed by other social media platforms and anticipated to boost the location based advertising.

The data carriers and operators such as AT&T, Vodafone, and Verizon are providing affordable plans to consumers and enterprises which has made location based advertising cost effective channel of marketing. Besides traditional marketing touch points such as SMS, MMS, and websites, social media sites, and Over the Top (OTT) platforms, are the trending marketing channels. Besides this mobile applications are becoming the major inventory for advertisements to be displayed in and replacing the conventional mobile web. However, resistance by users to mobile applications opt-in permissions, privacy concerns, and accuracy of location targeting are some of the challenges faced by marketers that might impede the growth of the market.

Request a free sample copy or view report summary:
Location Based Advertising Market Report

Location Based Advertising Market Report Highlights

• Pull type LBA segment is predicted to expand at the highest CAGR over the forecast period owing to increasing user interaction with brands on mobile sites or applications and growing use of personalization features and engagement strategies by advertisers and marketers. Moreover, use of advertisements as display advertising integrated with publisher content or search advertising is also likely to boost the segment growth
• Multimedia is anticipated to be the fastest growing segment owing to increasing number of search queries on mobile devices and collaboration of brands and marketers with social media platforms such as Facebook, Instagram, and Twitter
• The application of location based advertising at airports is likely to be the fastest growing segment over the forecast period. Owing to increasing use of location services for places of interest such as airports by the travelers and use of geo-fence targeting strategy by advertisers to target its audience is likely to boost the segment growth
• Asia Pacific is expected to emerge as the fastest-growing region owing to the proliferation of low cost smartphone devices, rise in use of digital product and services, and increasing digital marketing spend by large and local enterprises. Moreover, government initiatives to develop navigation/GPS infrastructure enabled by satellites, necessary equipment manufacturing, and supportive research funding is likely to foster the technology penetration and boost the confidence of the location based service providers and marketers

Application Transformation Market Size Worth $17.9 Billion By 2027

 

Application Transformation Market Growth & Trends

The global application transformation market size is expected to reach USD 17.95 billion by 2027, expanding at a CAGR of 10.4%, according to a new study conducted by Grand View Research, Inc. Growing digitalization initiatives among industries, rising penetration of cloud computing technology, and increasing demand for scalability are aiding the market growth. Moreover, the constant need to keep the applications updated with upcoming technologies and improve the Return on Investment (ROI) will also increase the utility of these services in coming years.

Application transformation helps enterprises to reduce the number of applications within an enterprise and move applications to the cloud so as to meet government regulations and update compliance. Moreover, application transformation solutions aid IT departments to address the social media usage in enterprises and growing use of mobile computing. Presently, the IT companies and vendors are collaborating and partnering to offer digital transformation solutions to the industries worldwide. For instance, in April 2020, Tech Mahindra Ltd., an IT services provider company, collaborated with IBM to form technology innovation centers to help digital transformation for its customers. The innovation centers will help address complex business problems across industries, including financial services, insurance, telecommunication, manufacturing, retail and healthcare. Moreover, Tech Mahindra Ltd. will assists its clients migrate its main business applications to the IBM public cloud utilizing IBM Cloud Paks.

Prominent vendors in the market such as IBM Corporation, Microsoft Corporation, and Accenture Plc., are instrumental in helping clients to plan their transformation journey with in-house services capabilities, application portability, and flexible pricing options. Moreover, the evolving technologies will aid in automating the operational and managerial processes, seamless integration capabilities, and improve overall customer experience. However, high implementation and management costs are some of the challenges that might impede the growth of the market over the forecast period. Besides, recent outbreak of COVID-19 disease across the world is likely to slow down the growth of the market temporarily.

Request a free sample copy or view report summary:
Application Transformation Market Report

Application Transformation Market Report Highlights

• UI Modernization segment is predicted to expand at the highest CAGR over the forecast period owing to increasing need to improve customer experience, scalability and reliability, better security, and fast data accessibility
• Growing implementation of application transformation solutions among SMEs in developing regions such as South Asia and Latin America is likely to boost the market growth over the forecast period
• The healthcare end-use segment is expected to expand at the highest CAGR over the forecast period owing to accelerating adoption of digital technologies in the sector. Moreover, AI-enabled medical device, blockchain electronic health records, and telemedicine are some of the technological innovations/trends which will make application modernization a necessity in healthcare sector
• Asia Pacific is expected to emerge as the fastest-growing region owing to the increasing focus of SMEs and large enterprise to enhance their digital initiatives. The presence of major cloud enterprises such as IBM with their establishment of cloud computing hubs in India, China, Vietnam, and South Korea, is likely to boost the growth

Electric Vehicle Battery Thermal Management Systems Market Worth $12.1 Billion By 2027

 

Electric Vehicle Battery Thermal Management Systems Market Growth & Trends

The global electric vehicle battery thermal management systems market size is expected to reach USD 12.1 billion by 2027, registering a CAGR of 28.5% from 2020 to 2027, according to a new report by Grand View Research, Inc. Thermal management systems are used in electric vehicles (EVs) for maintaining the heating temperature of the batteries used in these vehicles. These batteries provide power to the motors for the traction of the vehicle and therefore, the vehicle movement is entirely dependent on battery health. Hence, the need to control the battery heat becomes critical for the seamless operation of EVs.

Stringent government regulations have been observed in various nations for controlling the carbon emissions from the vehicles. Also, governments are taking initiatives to boost the adoption of EVs. For instance, the Chinese government has waived off the purchase taxes on EVs till 2020. In addition, most of the countries are planning for a complete transformation from Internal Combustion Engine (ICE) vehicles to battery EVs. As a result, the sales of new and more efficient EVs have increased. This trend is expected to fuel the growth of the overall market in the coming years.

Automobile manufacturers across the globe are increasingly investing in R&D to develop new methods and systems for maintaining & controlling the battery temperatures. For instance, in 2019, Robert Bosch GmbH announced a cloud-connected software service for battery management, which is capable of monitoring and managing the electric battery remotely. Such innovations and developments are projected to bolster the market growth.

Request a free sample copy or view report summary:
Electric Vehicle Battery Thermal Management Systems Market Report

Electric Vehicle Battery Thermal Management Systems Market Report Highlights

• The passive segment held the largest revenue share of over 78% in 2019. This growth was credited to the benefits offered by these systems including low cost and ease of installation in the vehicle
• The active segment is expected to register the highest CAGR from 2020 to 2027 owing to the benefits of these products, such as enhanced efficiency and improved battery life
• Passenger vehicles segment accounted for the majority share in 2019 primarily owing to the high penetration of EVs in this segment
• The commercial segment is expected to expand at steady a CAGR over the forecast period due to the increasing demand for battery-powered buses and lightweight trucks
• Asia Pacific is expected to be the largest as well as fastest-growing regional market from 2020 to 2027 owing to the highest production and adoption of EVs in the region

Clinical Communication & Collaboration Market Worth $4.99 Billion By 2027

 

Clinical Communication & Collaboration Market Growth & Trends

The global clinical communication and collaboration market size is anticipated to reach USD 4.99 billion by 2027, exhibiting a CAGR of 18.0% over the forecast period, according to a new report by Grand View Research, Inc. The rising trend among healthcare practitioners to gain cross-functional support platforms for using a web-based interface or different mobile devices to support flexible communications anytime anywhere is driving the market growth. These platforms allow doctors and caretakers to indulge in real-time communications by leveraging technologies, including Voice over IP (VoIP), video conferencing, secure text messaging, on-call scheduling, and the ability to access critical patient information from Electronic Health Records (EHR) as and when needed. The need for efficient and effective communication between hospital staff and doctors to tackle mission-critical cases and ensure seamless hospital management is expected to offer an impetus to adoption of clinical communication and collaboration solutions.

These solutions are expected to benefit significantly from the integration of big data analytics technology. Big data analytics technology is expected to help doctors analyze specific trends and future events based on data accessed from web-based or electronic platforms. This facilitates timely intervention and better continuity of care by enabling communication amongst patients and healthcare providers. Big data also ensures continual operations of communication platforms such as patient portals, emails, and call centers. For instance, call center representatives can access patient data and indulge in informed and personalized conversations based on prior interactions with the healthcare system, which offers a more holistic and satisfactory patient experience.

The integration of blockchain technology with clinical data sharing and collaborative care offers significant market growth prospects. Blockchain technology provides improved health information exchange by tracking data origin and encrypting the information exchange chain, thus providing a safe ecosystem for data transfer activities. The practical use cases of blockchain technology involve more efficient EHR management, authentication, secure registering of patient payment sources, and efficient hospital resource usage. The technology is also expected to shorten negotiation cycles, improve network co-ordination, mitigate time delays and communication gaps caused by legacy communication technology, and make clinical processes more seamless.

Implementation of the 5G delivery system in clinical communication is expected to offer significant market growth prospects owing to its ability to transfer large volumes of data in less time. Digital pathological data, such as MRI and X-ray scans, can be easily shared in real-time across other facilities, promoting high-bandwidth availability and ultra-high-speed internet. Such advancement enables remote healthcare providers and specialists to meet, exchange data, and collaborate without experiencing latency. Furthermore, low latency feature of 5G internet is expected to aid in telesurgery, by helping doctors in remote locations to perform real-time surgeries using surgical robots.

Request a free sample copy or view report summary:
Clinical Communication & Collaboration Market Report

Clinical Communication & Collaboration Market Report Highlights

• The hosted deployment segment is expected to witness the highest CAGR of more than 19%, owing to rising demand amongst hospitals and clinical labs to adopt a cloud-based communications infrastructure
• The services segment is envisioned to witness significant growth due to the availability of pre-existing communication systems and the need to leverage collaboration and communication services to indulge in better healthcare practices
• The hospitals segment is expected to dominate over the forecast period owing to the availability of larger IT budgets and provision to access better services and solutions from platform providers
• The large hospitals segment is expected to witness the highest CAGR owing to a higher need to indulge in collaboration activities between cross-functional departments
• Asia Pacific is envisioned to expand at the fastest CAGR exceeding 21% due to the presence of a significant number of smartphone and internet users in the region, which offers promising potential for technological penetration in the healthcare market

Cold Chain Equipment Market Size Worth $33.9 Billion By 2027

 

Cold Chain Equipment Market Growth & Trends

The global cold chain equipment market size is expected to reach USD 33.9 billion by 2027, expanding at a CAGR of 19.0% from 2020 to 2027, according to a new report by Grand View Research, Inc. Rising demand for the storage of processed food and frozen products is estimated to fuel market growth. Changing lifestyle of the people has led to the increased consumption of food and beverages, which is expected to increase the demand for cold chain equipment during the forecast period. Besides, the stringent government regulations for food and pharmaceuticals safety during storage and transit are boosting the demand for cold storage and transportation equipment. 

The temperature-sensitive products such as vaccines, biotech products, and insulin require cold storage for their preservation. Moreover, amidst the coronavirus pandemic, the transit of various medicines, drugs, and test samples has increased worldwide. As a result, laboratories and companies require a reliable cold chain equipment to store these products during the transit, which is anticipated to propel the market growth.

Consumers are shifting their diet preferences towards value-added food categories, such as cheese, milk, yogurt, fresh vegetables, salads, ready-to-eat food products, and processed meat. Growing demand for chilled and frozen, packaged, and ready-to-eat food is paving the way to lucrative opportunities for local as well as foreign cold chain equipment players. The commonly used cold chain equipment in these applications include walk-in refrigerators, milk coolers, cold boxes, among others. Demand for organic fruit pulps and baby food is growing globally. Cold chain equipment is vital to store these fruit pulps, along with their essential nutrients for extended periods. The fruit pulp industry would play a decisive role in shaping the demand for the market. Cold chain equipment is being utilized effectively, right from the harvesting stage of fruits to reduce the losses associated with improper handling and storage.

The on-grid storage equipment segment held the largest market share in terms of revenue in 2019. However, the cold chain equipment manufacturers are making an early foray into the off-grid storage equipment and managing to deliver efficient and high-quality products that are expected to gain a competitive advantage in the market. Governments across the globe are encouraging the use of alternate energy source cold storage facilities to overcome the problems associated with the lack of access to reliable electricity and the cost associated with the on-grid storage facilities. As such, demand for off-grid cold storage equipment is anticipated to increase over the forecast period.

North America dominated the market in 2019 and is estimated to maintain its dominance over the forecast period leveraging its high technology adoption rate, a well-developed network of transportation and distribution systems, and growing demand for processed food products. In addition, the regional market is characterized by the presence of a large number of equipment manufacturers and cold storage warehousing facilities. The Middle East and Africa is expected to emerge as the fastest-growing regional market over the forecast period owing to rising population, increasing food demand, and rise in adoption of off-grid storage equipment, particularly in emerging economies of Africa.

---

Request a free sample copy or view report summary: Cold Chain Equipment Market Report

---

Cold Chain Equipment Market Report Highlights

• The off-grid cold chain storage equipment is expected to expand at the highest CAGR of 21.7% from 2020 to 2027 due to increasing need to prevent food losses post-harvest and processing in developing countries

• Increasing concerns over food safety and counterfeit pharmaceutical incidents have forced the government to tighten regulations on supply and production

• The pharmaceuticals application segment is expected to witness significant growth over the forecast period owing to increased trade and transit of drugs, chemicals, and medicines amidst the COVID-19 pandemic

• North America held the largest revenue share of more than 45.0% in 2019. The region is highly fragmented with the presence of numerous local companies.

Anti-biofilm Wound Dressing Market Size Worth $1.1 Billion By 2027

 

Anti-biofilm Wound Dressing Market Growth & Trends

The global anti-biofilm wound dressing market size is expected to reach USD 1.1 billion by 2027, expanding at a CAGR of 9.1%, according to a new report by Grand View Research, Inc. The rising incidence of Hospital Acquired Infections (HAIs), growing prevalence of chronic diseases, and the increasing number of burn cases are the key driving factors for the market.

Increasing the prevalence of chronic diseases across the globe is anticipated to drive the market. For instance, as per the International Diabetes Federation, the global prevalence of diabetes is expected to increase from 366.0 million in 2011 to 552.0 million by 2030. Since prolonged diabetes leads to diabetic foot ulcers, thus, the rising prevalence of diabetes is expected to render a positive impact on market growth over the forecast period. The anti-biofilm wound dressing is very much effective in healing chronic injuries, thus, this factor is expected to propel the demand for the product. Furthermore, the increasing geriatric population across the globe is also anticipated to surge the market growth. For instance, as per the World Health Organization (WHO), the global geriatric population is anticipated to rise from 90.0 million in 2016 to 2.0 billion by 2050. Since the geriatric population is prone to chronic diseases and ulcers, thus growing geriatric population is also expected to surge market growth.

Increasing cases of accidents and trauma such as burns are expected to contribute to market growth. Traumatic events are most common in low and middle-income countries in comparison to high-income countries. Around 50.00% of people globally are exposed to fire-related traumas. For instance, as per the WHO, over 1,000,000 people are registered, annually, as moderately or severely burnt. Therefore, such an increase in the number of burn cases is projected to boost the demand for the products, thereby propelling the market growth over the forecast period.

Request a free sample copy or view report summary:
Anti-biofilm Wound Dressing Market Report

Anti-biofilm Wound Dressing Market Report Highlights

• In terms of revenue, the chemical mode of the mechanism segment held the largest share in 2019. Increase in the use of silver anti-biofilm wound dressing in chronic and acute injuries is the major factor driving the segment
• Acute wounds segment held the largest market share in 2019 owing to the rising number of surgical procedures across the globe
• Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to the rising number of surgeries and the presence of many local players.

Pharmaceutical Contract Packaging Market Worth $47.7 Billion By 2027

 

Pharmaceutical Contract Packaging Market Growth & Trends

The global pharmaceutical contract packaging market size is expected to reach USD 47.7 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.1%, over the forecast period. The access to advanced technologies, cost-saving, and focus on core competencies are anticipated to propel market growth over the forecast period.

The growing pharmaceutical industry with high competition within the market is the major factor driving the market. Pharmaceutical companies are outsourcing the packaging activities to third parties, mainly in emerging nations such as China, India, and Brazil. Further, rising pricing pressure on pharmaceutical companies is boosting the demand for contract packaging services in the industry. The stringent regulatory scenario in developed countries and changing regulations in emerging countries are driving the market.

Moreover, the large Contract Packaging Organizations (CPOs) and Contract Development and Manufacturing Organizations (CDMOs) are continually acquiring small contract service providers to fill any gaps in the value chain or expand their existing portfolios. As smaller service provider have customer bases which comprise of small and mid-sized pharmaceutical companies, it allows larger CPOs and CDMOs to better compete with small service providers. Thus, maintaining the threat of new entrants at a moderate level for larger CPOs and CDMOs.

In addition, lack of in-house wrapping capabilities, expertise, and budget constraints are the major issues faced by small pharmaceutical companies in the industry. Contract packaging service providers are recognized as an effective approach to curb such issues of the small companies owing to the low-cost service offering. Lack of resources and budgets has prompted many small pharmaceutical companies to established mutually beneficial relationships with CPOs and CDMOs. Contract service providers are making significant attempts to meet their client’s expectations and provide highly sophisticated wrapping facilities.

The stringent regulations in developed regions such as North America and Europe are expected to drive the market over the forecast period. For instance, compulsory barcodes system for the pharmaceutical wrapping and the transfer of large volumes of data related to the supply of medicines under serialization legislation.

Request a free sample copy or view report summary:
Pharmaceutical Contract Packaging Market Report

Pharmaceutical Contract Packaging Market Report Highlights

• By type, the primary packaging segment held the largest market share in 2019 owing to the increase in outsourcing of primary wrapping activities to CPOs
• Bottles primary packaging segment held the largest market share of 29.7% in 2019 owing to the lack of internal wrapping capabilities
• The glass segment held the largest segment in 2019 as it is suitable for the most parenteral and non-parenteral preparations in the industry
• Asia Pacific is expected to witness the fastest growth over the forecast period owing to the presence of a large number of contract service providers in the region

Synoptophore Market Size Worth $297.6 Million By 2027 | CAGR: 4.6%

 

Synoptophore Market Growth & Trends

The global synoptophore market size is estimated to reach USD 297.6 million by 2027, expanding at a CAGR of 4.6%, according to a new report by Grand View Research, Inc. The key factors such as increasing prevalence of visual acuity disorders such as amblyopia, strabismus, diplopia, and other convergence insufficiency ailments are expected to drive the market.

Increasing the prevalence of risk factors leading to amblyopia and strabismus is expected to drive the demand for synoptophore machines in the extended run. For instance, there are multiple risk factors causing amblyopia that includes strabismus, uncorrected refractive errors, premature birth, cataract, ptosis, traumatic head injury, and hereditary factors.

The growing awareness about the importance of early diagnosis to avoid surgical intervention in the future will increase the utilization rate of synoptophore. Moreover, the increasing inclination towards non-surgical treatment procedures is expected to propel the growth of the market.

The reliability, versatility, and accuracy of synoptophore in performing comprehensive binocular vision assessments in patient with ocular motility disorders have increased its installation rate. However, high cost, lack of portability, and the difficultly in setting up the pediatric patient for diagnosis are the factors restraining the growth of the market.

Request a free sample copy or view report summary: 
Synoptophore Market Report

Synoptophore Market Report Highlights

• The diagnostic segment held the largest market share in the market in 2019
• The therapeutic application segment is expected to grow at the fastest rate during the forecast period owing to the factors such as excellent visual restoration rate, in the amblyopic eye using synoptophore, and rising demand for orthoptic exercise are the factors driving segment growth
• Automated synoptophore machines are expected to witness the fastest growth rate during the forecast period owing to their ability to perform visual acuity tests quickly and efficiently adhering to a standard protocol with minimal orthoptic intervention
• The hospital segment accounted for the largest revenue share in 2019 because of the factors such as large patient base, high procurement capabilities, and availability of skilled orthoptist
• The clinics segment is expected to grow at a significant rate over the forecast period owing to factors such as shorter wait time, increased accessibility, and low cost compared to hospitals is the factor expected to contribute towards the growth of the segment
• The presence of key market players, rising incidence of strabismus and amblyopia, and increasing inclination towards non-surgical treatment methods are factors that can be attributed to the growth of the market in North America.

Biologics Contract Development Market Worth $11.2 Billion By 2027

 

Biologics Contract Development Market Growth & Trends

The global biologics contract development market size is expected to reach USD 11.2 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.8% over the forecast period. The market comprises of organizations that offer services such as the development of cell lines, upstream and downstream processes, analytical methods, and formulations. These organizations specialize in developing and manufacturing stable cell lines that are extensively used in a number of important applications including drug screening, gene functional studies, and biologics production. The market is segmented on the basis of biological source, product service (Upstream and Downstream), and disease indication. Factors such as increasing adoption of advanced technologies for biologic development, favorable environment for clinical trials in developing countries, and an increase in outsourcing of R&D activities are paving way for the growth of the market.

Growing M&A and collaboration activities between biopharma companies and CDOs are yet another factor assisting in market growth, allowing more financial stability and amalgamation of advanced and specialized technologies. For instance, in February 2020, LakePharma, Inc., and NJ Biopharmaceuticals LLC, a CRO, providing integrated chemistry and biology services, announced a strategic alliance to offer streamlined Antibody-Drug Conjugate (ADC) development solutions for biotechnology and pharmaceutical sectors. Many biopharma and pharma companies are increasingly looking for outsourcing their activities as it helps accelerate workflow (speed) of the company, provides unique specialized services, decreases drug manufacturing costs, and provides expertise. These factors are expected to boost the biologics contract development and manufacturing organization market growth in the coming years.

Request a free sample copy or view report summary: 
Biologics Contract Development Market Report

Biologics Contract Development Market Report Highlights

• Mammalian source emerged as the largest product segment in 2019, as the majority of research activities are being carried out using mammalian cell lines
• The process development segment is expected to witness the highest CAGR over the forecast period, as many companies are opting to outsource for production of recombinant proteins and Monoclonal Antibodies (MABs)
• North America dominated the market in 2019. Increase in strategic acquisitions and partnerships and rise in demand for specialized testing services are likely to have a positive impact on the market
• In Asia Pacific, the market is expected to encounter the highest CAGR over the forecast period.

Medical Gauze And Tapes Market Size Worth $8.7 Billion By 2027

 

Medical Gauze And Tapes Market Growth & Trends

The global medical gauze and tapes market size is expected to reach USD 8.7 billion by 2027, expanding at a CAGR of 4.2%, according to a new report by Grand View Research, Inc. The rising incidence of Hospital Acquired Infections (HAIs), rising prevalence of chronic diseases, and the increasing number of accident cases are the key driving factors driving the market. Increasing incidence of road accidents across the globe is anticipated to drive the market.

According to the Association for Safe International Road Travel (ASIRT) 2018, around 20 to 50 million people are injured or disabled every year, and 1.4 million people die in road accidents. According to the WHO, road traffic injuries are estimated to be the 9th leading cause of mortality, globally. The ASIRT also reported that in the U.S., more than 38,000 people die in road accidents per year and around 4.4 million are injured or disabled.

According to the Ministry of Road Transport and Highways, Government of India, in 2016, around 494,624 people were injured in road accidents. This number has increased by 25.6% from 2007 to 2017. In 2016, the states that recorded the highest number of road accidents were Uttar Pradesh (25,096), Tamil Nadu (82,163), Maharashtra (35,884), and Karnataka (54,556). This is anticipated to propel market growth over the forecast period. In some cases, road accidents result in amputations, which, in turn, are expected to boost the market growth. Moreover, according to the CDC, in the U.S., falls (52%) and road accidents (20%) are the first and second leading causes of all TBI-related hospitalizations, respectively. Thus, the increasing number of road accidents and falls is expected to fuel market growth during the forecast period.

Request a free sample copy or view report summary: 
Medical Gauze And Tapes Market Report

Medical Gauze And Tapes Market Report Highlights

• In terms of revenue, the tapes segment held the largest revenue share in 2019 and is anticipated to witness significant growth over the forecast period. Increase in the use of medical tapes and rise in the awareness about the use of medical adhesive products in sports injuries are some of the factors driving segment growth
• Acute wounds segment held the largest market share in 2019 owing to the rising number of surgical procedures across the globe
• In Asia Pacific, the market is anticipated to witness the fastest growth over the forecast period owing to the rising number of surgeries and the presence of many local players.

Large Molecule Bioanalytical Testing Service Market Worth $2.6 Billion By 2027

 

Large Molecule Bioanalytical Testing Service Market Growth & Trends

The global large molecule bioanalytical testing service market size is expected to reach USD 2.6 billion by 2027, expanding at a CAGR of 9.1%, according to a new report by Grand View Research, Inc. The major factor attributing to market growth is the increased application of bioanalytical testing in clinical trials of biomarkers, large molecules, and others.

Rising prevalence of HIV, infectious disease, and others has led to increasing demand for bioanalytical testing services globally. Moreover, increasing government initiatives to control the outbreak of various infectious diseases such as Corona and Ebola virus is anticipated to offer more opportunities for the market. Hence, the market is expected to grow over the assessment period.

The market is expected to witness lucrative growth during the forecast period due to increased research activities and the presence of a huge pipeline of peptides, biologics, and amino acids based molecules. Additionally, bioanalysis of large molecules requires skilled professionals with innovative analytical instruments and infrastructure. These services are readily offered by bioanalytical testing service providers and are likely to propel the growth of the market during the assessment period.

North America accounted for the highest share in 2019. The U.S. holds the highest market share due to the increasing prevalence of various chronic diseases and the growing adoption of large molecule therapeutics as an alternative for small molecules.

For example, according to International Diabetes Federation Report 2019, around 49.0 million geriatric population in the U.S. has diabetes and this has led to increasing requests for bioanalysis of the novel (large molecule compounds) peptide therapeutics such as glucagon-like peptide 1(GLP-1). Due to this reason, the market is expected to show growth over the forecast period. In addition, the presence of major players in the region contributed to market growth.

Request a free sample copy or view report summary: 
Large Molecule Bioanalytical Testing Service Market Report

Large Molecule Bioanalytical Testing Service Market Report Highlights

• By type, the clinical segment held the largest market share in 2019 owing to increasing demand for clinical trials due to the rising prevalence of various infectious diseases
• Bioavailability held the largest market share of 20.9% in 2019 owing to increasing adoption in generic drug manufacturing
• The oncology segment held the largest revenue share due to the increasing prevalence of cancer globally
• The U.S. is expected to witness the fastest growth over the forecast period owing to the growing adoption of advanced therapeutic techniques in the country.

Medical Supply Delivery Service Market Worth $96.6 Billion By 2027

 

Medical Supply Delivery Service Market Growth & Trends

The global medical supply delivery service market size is expected to reach USD 96.6 billion by 2027, expanding at a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc. The increasing need for quick and secure transportation of samples and specimens for testing and reducing logistics costs are some of the major factors driving the market.

Based on the application, the medical supplies segment accounted for the largest revenue share in 2019 owing to the increasing need for faster delivery of medicines required at the time of natural calamities and emergencies. On the other hand, the emergency services segment is expected to exhibit the fastest growth during the forecast period owing to the increasing demand for ambulance drones to deliver various drugs and devices in emergencies. For instance, in September 2018, Bloodstream used drone-based transportation to transform and revolutionize the supply of blood, vaccines, anti-snake venom, emergency medicines, and defibrillators in rural areas.

In 2019, the courier delivery segment accounted for the largest revenue share in the market. The rising demand for courier services to transport lab specimens, paperwork, prescription medications, lab work, infusion medicine, and equipment are driving the market growth. On the other hand, drones delivery segment is anticipated to be the fastest-growing segment, owing to the rising adoption of drones to transport blood and blood components during emergencies and disease outbreaks.

Based on end-user, pharmaceutical and medical device companies accounted for the largest revenue share of 24.8% in 2019. This is attributable to the growing demand for safer transport of drugs and life-saving medical devices during outbreaks and emergencies. On the other hand, the blood bank segment is anticipated to be the fastest-growing segment owing to the increasing need to ensure the safe and timely delivery of blood and blood components.

In 2019, North America dominated the market owing to the rise in the demand for fast and cost-efficient delivery of medical supplies throughout the region. On the other hand, Asia Pacific is expected to be the fastest-growing region during the forecast period. This is attributable to the increasing infrastructure investments and increasing implementation of drone-based technology to deliver medical supplies at the time of COVID-19 outbreak in developing countries.

Request a free sample copy or view report summary:
Medical Supply Delivery Service Market Report

Medical Supply Delivery Service Market Report Highlights

• The medical supplies application segment dominated the market with a revenue share of 34.9% in 2019, owing to the increasing demand for third-party logistics to deliver medical supplies to healthcare providers
• The courier delivery segment dominated the market in 2019 owing to increasing adoption of courier services for transportation of sensitive healthcare items safely, securely, and on time
• The pharmaceutical and medical device companies segment dominated the market in 2019 owing to increasing demand for drugs and respiratory devices amid COVID-19 pandemic
• North America dominated the market in 2019 owing to the increasing adoption of drones and healthcare logistic services to transport healthcare supplies in the region.

Vermouth Market Size Worth $15.7 Billion By 2027 | CAGR: 7.6%

 

Vermouth Market Growth & Trends

The global vermouth market size is expected to reach USD 15.7 billion by 2027, expanding at a CAGR of 7.6%, according to a new report by Grand View Research, Inc. Increasing demand for low alcohol content drinks among millennials and adults in pubs and restaurants is expected to be a key factor for the growth of the market. Moreover, growing popularity of fortified and aromatized wines among millennials on a global level is expected to remain one of the key driving factors for the market over the forecast period.

Over the past few years, the enthusiasm of fortified wines with low alcohol content has grown significantly across the globe. People around the world prefer vermouth in order to taste more flavored alcoholic drinks. Wine can be aromatized with cardamom, cloves, cinnamon, and many more spices, whereas it is fortified with various spices, herbs, roots, flowers, barks, and seeds. This drink is replacing various conventional drinks such as gin in many parts of the world including Spain.

Europe was the largest market and accounted for market share of more than 50.0% in 2019 as a result of the high concentration of consumers in countries including Spain, Italy, and France. Sweet as well as dry vermouth were first introduced in Italy which played a significant role in the large consumption of the wine in the region. Moreover, major players in the market are launching new products in order to increase the booze tourism in the region.

The vermouth market is slightly consolidated in nature owing to the presence of strong players with large customer base across the globe. Moreover, the market is full of new product launches owing to significant rise in the popularity of vermouth. For instance, in July 2019, El Bandarra, a brand known for craft vermouth launched a new product under the brand name ‘El Bandarra Vermut Rosé’ in Barcelona, Spain. This product contains 30.0% less sugar and 15.0% Alcohol by Volume (ABV).

Request a free sample copy or view report summary:
Vermouth Market Report

Vermouth Market Report Highlights

• Sweet was the largest product segment with a market share of more than 55.0% in 2019 and expected to maintain its dominance over the forecast period
• Dry is expected to be the fastest growing product segment with a CAGR of 7.8% from 2020 to 2027 owing to increasing demand for the dry and extra-dry vermouth majorly is North America, having low sugar syrup content
• The on-trade distribution is anticipated to be the fastest growing segment with a CAGR of 7.8% from 2020 to 2027 owing to high sale of product through pubs, bars, nightclubs, hotels, restaurants, and Cafés (HoReCa)
• Europe was the largest market for vermouth and accounted for a market share of more than 50.0% in 2018 owing to substantial consumption across the region majorly in Spain, Italy, and France
• Key players include Martini and Rossi, William Grant and Sons Limited, Branca International S.p.A., Bacardi Limited, Atsby Vermouth, Ransom Spirits, E.and J. Gallo Winery, Anchor Brewers and Distillers, Davide Campari-Milano S.p.A., and Contratto.

Camel Milk Products Market Worth $18.3 Billion By 2027 | CAGR: 6.8%

 

Camel Milk Products Market Growth & Trends

The global camel milk products market size is expected to reach USD 18.3 billion by 2027, expanding at a CAGR of 6.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing awareness about the health benefits of camel milk products is driving the market growth. They help in preventing numerous diseases such as diabetes, autism, shingles, and cancer. Additionally, it is easy to digest, thus making these products popular among lactose-intolerant consumers. Furthermore, camel milk is the most nutritive dairy drink, which comprises copper, sodium, iron, potassium, magnesium, vitamin A and C, and manganese.

The plain milk segment led the market in 2019 with more than 40% of the total revenue share. This is a traditional drink of the Middle Eastern countries, where a large part of the population consumes raw or plain milk. However, manufacturers are introducing innovative products including powder, cheese, yogurt, butter, ice creams, chocolates, and infant formula considering the growing demand.

For instance, in June 2019, Summer Land Camels launched the first camel cheddar cheese in the world. It took one-year researching and refining as the milk is difficult to curdle owing to its less fat content. Similarly, in February 2019, Camelicious announced to launch a new line of ice creams in U.K. The product range will include five flavors: vanilla, strawberry, chocolate, pistachio, and hazelnut.

North America is expected to witness the fastest growth rate over the forecast period. Camel dairy is gaining popularity among consumers in U.S. and Canada. Furthermore, increasing number of diabetic and lactose-intolerant people has widened the opportunity for the manufacturers of the industry in the region.

Request a free sample copy or view report summary:
Camel Milk Products Market Report

Camel Milk Products Market Report Highlights

• In terms of distribution channel, offline sales led the camel milk products market, contributing for more than 80% of the global revenue
• North America is expected expand at the fastest CAGR of 7.6% from 2020 to 2027, owing to growing market demand for low-fat and nutritional drinks
• Middle East and Africa dominated the market in 2019, accounting for more than 60% share of the global revenue owing to high consumption of raw milk in the nations including Saudi Arabia, Somalia, and Ethiopia
• The fermented product segment is expected register a CAGR of 9.5% from 2020 to 2027
• Major players in the camel milk products market include Camelicious; Desert Farms, Inc.; The Camel Milk Co.; Summer Land Camels; VITAL CAMEL MILK LTD; Camel Dairy Farm Smits; Al Ain Farms; Tiviski pvt Ltd.; UK Camel Milk Ltd.; and Aadvik Foods