Worldwidanalysis

Food Grade Lubricants Market Will Reach $516.5 Million by 2030

Industrial lubricants classified as “food grade” are primarily used to maintain food production equipment. Food Grade Lubricants carry out the same technical work as conventional lubricants; they must resist food product deterioration, display chemical behavior that is neutral toward processing machinery and food packaging and adhere to laws governing the health and safety of food.

By 2030, it is predicted that the food-grade lubricants market will be worth $516.5 million. This can be attributed to the growing global worries about food safety as well as the rise in occurrences of diseases from unhygienic food.

Such diseases are becoming more common; worldwide, each year, 650 million individuals suffer from them, according to the latest statistics. A lot of food-related illnesses are brought on by unintentional contact with the lubricants used in machinery.

Therefore, there is a high demand for food-grade lubricants to prevent contamination of both raw materials and finished goods.

The need for processed canned food products has changed as a consequence of the shifting lifestyles of the population. The consumption of processed food is rising rapidly, especially in emerging economies, due to people’s busy schedules, lack of time to make home-cooked meals, and increasing urbanization. Units that produce processed foods employ lubricants that are suitable to use in food.

Manufacturers Are Shifting Towards Automated Units

The adoption of automatic lubrication systems has significantly increased as a result of recent technological breakthroughs. The deployment of such technologies lowers maintenance costs while reducing equipment failure likelihood by 50%.

Both stationary and moving equipment that can have their lubricant supply controlled at regular intervals can benefit from these systems. They also help to lower the possibility of pollution.

To guarantee that the products they create are of the highest quality, manufacturers are now turning to automated systems, which are generating attractive prospects for the food-grade lubricants demand growth.

Additionally, as customer worries over food safety increase, makers of food-grade lubricants may have additional opportunities to develop and launch new products.

Mineral Category Lead the Segment

The most revenue is produced from the mineral food-grade lubricants category. Their low price in relation to other goods and their strong need in the food, beverage, and cosmetic sectors are credited with this.

Additionally, consumers are increasingly more conscious of mineral oils than synthetic and bio-based oils. Additionally, the existence of more mineral oil manufacturers is crucial to the expansion of the industry in this sector.

Europe Is Dominating Region

Geographically, the Europe industry generated $89.1 million in the past, which is predicted to grow at a CAGR of 8.1% in the coming years. This is because of the matured and well-established industries.

Additionally, the post-recession economic recovery and the rising need for lubricants and grease in contemporary machinery are anticipated to propel food-grade lubricants market expansion.

The growing demand for processed foods and drinks is another important element driving the area’s demand for bio-based food-grade lubricants. The demand for such lubricants in the food processing sector is anticipated to increase as consumers become more aware of the health advantages of processed food.

Booming Tourism Sector Propelling Mattress Market Growth

The global mattress market revenue is expected to rise from $32,875.3 million in 2020 to $64,045.5 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 7.0% from 2021 to 2030 (forecast period). The market is being driven by the booming tourism industry, which is causing a massive rise in tourist footfall and propelling mattress sales, in several countries. Additionally, the rising health concerns of consumers are driving the demand for various everyday items, such as mattresses.

Besides the aforementioned factors, the growing disposable income of people and the implementation of government policies regarding real estate development are also propelling the home ownership rate all over the world, which is, in turn, fueling the expansion of the mattress market. As per the Organisation for Economic Co-operation and Development (OECD), government initiatives and the surging average annual growth rate in disposable income, which is more than 2%, are making housing affordable for the masses.

The other major factor fueling the demand for mattresses is the increasing migration of people from rural to urban areas, especially in the Asia-Pacific (APAC) and Middle Eastern regions. As per the World Urbanization Prospects report published by the United Nations (UN), nearly 55% of the global population resided in urban areas in 2018, and this share is expected to rise to approximately 68% by 2050. Depending on distribution channel, the market is divided into offline and online.

Of these, the online category is predicted to demonstrate faster growth in the coming years. This is because of the growing popularity of online shopping, owing to its ability to provide greater convenience and home deliveries, among customers. Furthermore, many manufacturers are increasingly adopting strategies for increasing their online sales, such as handing out huge coupons and discounts. In addition, online platforms provide customers with several options to choose from with detailed specifications.

Geographically, the Asia-Pacific (APAC) region contributed the highest revenue to the mattress market in the years gone by, and this trend is predicted to continue in the coming years as well. This will be because of the mushrooming tourist footfall in regional hotels and resorts. In addition, the growing disposable income of the middle-class populace and their improving living standards are also predicted to positively impact the sales of mattresses in the region.

The major players operating in the mattress market are focusing on product launches in order to consolidate their position. For example, Tempur Sealy International Inc. launched a new line of mattresses, that leverage the ultra-responsive coal technology and memory foam for providing enhanced support and durability, in February 2021.

Furthermore, Serta Simmons Bedding LLC announced the launch of its new iComfort Hybrid mattress collection in January 2018 at the Winter 2018 Las Vegas Market.

Hence, the sales of mattresses will soar in the coming years, mainly because of the rising disposable income of people, rapid urbanization, and surging tourist footfall in various countries.

U.A.E. Ranked 22^nd in Term of Lowest Base Price for Bottled Water

The aim of the U.A.E. Water Security Strategy 2036 is to decrease the consumption of water per person by half, in addition to focusing on workable practices. The policy pursues to advance a storage capacity for the water supply system lasting for 48 hours under normal circumstances, equal to 16 days in crises, and sufficient to source water for more than 1.5 months in extreme emergency situations. Because the country majorly being a desert, there is much scarcity of water, and people are much inclined toward packaged drinking water.

This also comprises the formation of six linking networks among electricity and water entities all around the country. The networks will deliver 91 liters water for every person in emergency, or 30 liters each day in extreme crises. Because of so much emphasis on providing and conserving water, the U.A.E. packaged drinking water market was stood at $625.4 million in 2021, and it will advance at a 4.7% CAGR from 2021 to 2030, to reach an amount of $948.2 million in 2030.

Approximately 87 million public in the Arab lacks access to an enhanced drinking water source on-premises. This surges the risk of the COVID-19 disease during water collection from public standpipes, mainly for women. Although some families in the region purchased drinking water when it is not obtainable through a tap, a large share of families cannot afford private substitutes and rely on wells and hydrants, to collect water. This is true with rural and peri-urban societies and settlements not connected to the networks of water supply.

The U.A.E. is has one of the lowest base prices of packaged water. This does not essentially decipher into the rates of packaged water available in cafes and hotels. Maximum Packaged bulk drinking water sales in the country are made to workplaces, as most offices make use or use bottled water for drinking. In the nation, there are strict regulations pertaining to employee health. For example, the Ministry of Human Resources & Emiratisation has warned businesses that employees must be given water containing minerals approved by the health authorities at all times.

There is a rapid increase in the number of offices and commercial spaces in the U.A.E. and this is having a positive impact on the U.A.E. packaged drinking water market. Abu Dhabi saw the issuing of 25,427 new licenses, a surge of 21.5% as opposed to 20,925 in 2020, as per the 2021 Business Activity Report of ADDED. This report also revealed that economic licenses that were renewed augmented to 83,484, rising by 15.8%, from 72,070 in 2020, a clear sign of post-pandemic recovery. When all the people are back in the office, there is an increased need for drinking water.

When a country has a scarcity of water, it knows the value of clean drinking water. This is perhaps one of the main reasons for the continuous demand for packaged drinking water in not just the U.A.E., but the whole of Arabia.

Hottest Trends in Plant-Based Protein Market – 2022

Plant protein is simply a meaningful food source of protein which is from plants. This group can include pulses, tofu, soya, tempeh, seitan, nuts, seeds, certain grains and even peas. Pulses are a large group of plants, which include chickpeas, lentils, beans, and split peas.

Plant proteins are highly nutritious – not only as good sources of protein, but also because they provide other nutrients such as fibre, vitamins and minerals. Our intake of fibre tends to be too low, however by incorporating certain plant proteins into your diet, such as pulses, peas and nuts, you can easily boost your fibre intake. Therefore, the plant-based protein market is expected to generate $26,721.3 million revenue in 2030.

Why Protein Is Important?

Protein is a vital nutrient responsible for the growth, maintenance and repair of our bodies. So, we must ensure we eat enough high-quality protein every day to keep our bodies healthy. Essentially, protein is fundamental to the basic structure of our body.

There are 9 essential amino acids, and when you eat a protein source containing all of these it is called a ‘complete’ protein. Animal protein sources are complete, and they include fish, poultry such as chicken and red meat.

What are the Trends in the Market?

1. Plant-Based Milks with More Protein

Consumers’ strong demand for more protein from their foods and beverages is driving innovation even in plant-based protein products, with Silk Ultra as one of the latest examples. Silk Ultra provides a whopping 20 grams of protein per serving—similar to a protein shake—but can be used in cereal, coffee, and other milk applications. Almond and coconut milks fortified with pea protein are also part of the more-protein trend.

2. Clean Label Plant-Based Meats

More than one in three consumers are influenced by natural labels when grocery shopping, with half saying it’s important to avoid chemical-sounding ingredients, reports the International Food Information Council.

Plant-based meat companies are beginning to respond to this preference, seeking ways to replace ingredients like methylcellulose and titanium dioxide, for example, with recognizable ingredients and by using shorter ingredient statements.

3. Expansion of Plant-Based Frozen Meals

The Plant Based Foods Association reports plant-based frozen meals grew by almost 29% last year, compared to 8% growth in the frozen foods category overall. This indicates a strong demand for convenient, heat-and-eat meals in plant-based options. Plant-based pasta dishes, burritos, and pizzas are some popular meals that will continue to expand in the frozen aisle.

4. More Realistic Plant-Based Meats

A majority (54%) of US consumers think plant-based meat should closely mimic the taste of meat, according to Mintel. Since most of today’s plant-based meat consumers are not vegan, the expectation is that plant-based meat should deliver the same eating experience as animal-based meat. Plant-based meat companies are increasingly prioritizing meaty flavor and juicy texture to meet this demand.

5. Next-Gen Plant Proteins

Since adding variety to the diet is the third most cited reason consumers turn to plant-based protein products, it’s no surprise that plant-based food companies continue to search for new varieties of proteins that can appeal to consumers. A health halo is especially important here, with legumes and seeds key categories for new plant proteins.

Read More: plant-based protein market 

Radiofrequency (RF) Transceiver Market To Value $3,384.5 Million in 2030

The major factors responsible for the growth of the radiofrequency (RF) transceiver market are the increasing demand for smartphones and rising penetration of the internet of things (IoT) technology. Due to this, the revenue generated by the market players, which stood at $3,892.1 million in 2019, is projected to grow at a 0.8% CAGR during 2020–2030 (forecast period), to reach $3,384.5 million by 2030. The RF transceiver is an important instrument in telecommunications, as it receives and transmits voice and data signals in the form of RF waves.

The divisions of the RF transceiver market, when segmented on the basis of type, are 2G, 3G, 4G, and 5G. Among these, during the historical period (2014–2019), the industry was dominated by the 4G transceiver division, on account of the rapid expansion of 4G mobile communication services around the world. Compared to 3G, 4G connectivity is smoother and faster, as 4G transceivers work on a frequency band of 600 Megahertz (MHz) to 2.5 Gigahertz (GHz) and transmit internet data at up to 20 Megabits per second (Mbps).

Moreover, telecommunications, military & defense, consumer electronics, aerospace, cable/broadcasting, healthcare, and others are the categories under the vertical segment. In 2019, the consumer electronics category generated the highest revenue in the RF transceiver market because of the rapidly rising demand for tablets, smartphones, desktop computers, gaming consoles, laptops, networking equipment, IoT devices, and surveillance equipment. With people’s rising disposable income driving the demand for such products, the consumer electronics category will also witness the fastest growth till 2030.

A key driver for the RF transceiver market is the rising adoption of the IoT on account of the increasing awareness about the technology’s advantages in operational data gathering and preventive maintenance. Moreover, the rampant construction of smart cities is propelling the usage of several types of smart ecosystems, such as smart homes, smart factories, smart traffic signals, smart waste management systems, and smart utilities. The rising adoption of the IoT has significant raised the demand for fast and smooth internet connectivity, in turn, propelling the integration of 5G RF transceivers.

Additionally, lucrative RF transceiver market opportunities are being created by the continuous advancements in the telecommunications technology. For instance, Qualcomm Technologies Inc. and Lenovo Group Limited came together to develop a 5G-compatible laptop in May 2019, which was launched in January 2020. The laptop supports higher-quality images and videos and faster data transfer. Therefore, with the development of such advanced devices for communication, the demand for enhanced RF transceivers will continue to increase.

Presently, the RF transceiver market players generate the highest revenue in Asia-Pacific (APAC), owing to the rapid growth in the telecommunications and consumer electronics industries of regional countries. With the increasing demand for smartphones, rising penetration of the internet, surging usage of social media, music, video streaming, gaming, and news websites, and growing usage of IoT, the market will keep experiencing prosperity in the region. In addition, numerous Asian countries are making efforts to launch 5G services, which is another key driver for the market.

For instance, 5G services have already been launched in certain areas of Japan and China. Japan has launched such services ahead of the 2020 Tokyo Summer Paralympics and the 2020 Tokyo Olympic games. The idea was to support the live telecast of the event in high definition via drones and satellites. Moreover, with India’s digital transformation initiative, as more data from the pen-and-paper mode goes online, the existing telecommunications infrastructure will come under immense pressure, which will drive the demand for RF transceivers here.

Hence, with the advancements in the telecommunications infrastructure around the world, the demand for 4G and 5G RF transceivers will pick up.

Read More: https://www.psmarketresearch.com/market-analysis/rf-transceiver-market

Falling Prices of LEDs Driving Emergency Lighting Market Growth

The global emergency lighting market reached a value of $5,386.0 million in 2020, and it is expected to attain a revenue of $9,993.4 million by 2030. According to the estimates of P&S Intelligence, a market research company based in India, the market will exhibit a CAGR of 6.4% from 2021 to 2030 (forecast period). The market is being driven by the surging number of construction projects, falling prices of LED lights, rapid technological innovations in the lighting industry, and increasing implementation of government initiatives aimed at promoting the use of energy-efficient lighting solutions across the world.

In recent years, the prices of LEDs have plunged sharply. This has consequently pushed up the use of these lights in several application areas, such as residential, commercial, and industries. Moreover, the companies manufacturing lighting products have focused on broadening their portfolio of LED emergency lights in recent years, owing to the mushrooming need for LEDs, due to their high energy-efficiency. Additionally, these companies are making huge investments in research and development (R&D) projects in order to improve the lifespan and performance of their products.

The adoption of LEDs in red and green exit signs is one such major technological advancement in the emergency lighting market. These lights are more cost-effective and exhibit greater energy-efficiency than conventional lighting sources. With the growing use of emergency red and green exit signs in various residential areas, companies are increasingly focusing on expanding their product portfolios. Depending on power system, the market is segmented into central, hybrid, and self-contained categories, out of which, the self-contained category held the largest market share in 2020, and it is predicted to retain its dominance throughout the forecast period as well.

This is attributed to the rapid deployment of self-contained power systems and their high cost-effectiveness, which is making them ideal for small and medium enterprises (SMEs). The emergency lighting market is also classified, on the basis of source, into LED, induction, incandescent, and fluorescent. Among these, the LED category contributed the highest revenue to the market in the years gone by, and this trend will continue in the upcoming years as well. This will be because of the rising public awareness about the benefits of using energy-efficient lighting solutions and the implementation of government initiatives for boosting their adoption.

Globally, the Asia-Pacific (APAC) region is predicted to be the largest emergency lighting market in the coming years. Moreover, this region will also be the fastest-growing market throughout the forecast period. This is credited to the surging number of smart homes and launch of various initiatives by the governments of regional countries, such as India, China, Thailand, and South Korea, for facilitating infrastructure development, including several smart city development projects.

Thus, the demand for emergency lighting solutions will shoot up in the coming years, mainly because of the plunging prices of LED lights, surging number of construction and infrastructure development projects, and soaring need for energy-efficient lighting systems across the world.

Read More: https://www.psmarketresearch.com/market-analysis/emergency-lighting-market

How is Unhealthy Dietary Habit Increasing the Use of Electric Toothbrush?

According to a 2019 study, titled ‘Long-term impact of powered toothbrush on oral health: 11-year cohort study’, published in the Journal of Clinical Periodontology, use of electric toothbrushes has resulted in 17.7% less progression in decayed, missing, filled surfaces (DMFS), 22% less gum recession, and 19.5% rise in the number of teeth retained in comparison to manual toothbrushes, throughout the study. Thus, the surging awareness about the benefits of smart toothbrushes is fueling the need for this oral product.

Moreover, the increasing prevalence of unhealthy dietary habits will drive the electric toothbrush market at a CAGR of 5.7% during the forecast period (2020–2030). At this rate, the market is expected to increase its revenue from $2.7 billion in 2019 to $4.8 billion by 2030. Unhealthy dietary habits include high consumption of alcohol, intake of sugary foods, and chewing of tobacco that have a detrimental effect on oral health. Alcohol and sugary foods contain a high level of sugar that converts into acid after coming in contact with plaque, thereby, destroying the teeth over time.

Read More: https://www.psmarketresearch.com/market-analysis/electric-toothbrush-market

These toothbrushes are primarily used by adults, due to their unhealthy eating habits that lead to poor oral health. The worsening teeth quality has increased the use of advanced toothbrushes, as newer models help customers in removing more plaque and prevent gingivitis. Moreover, electric toothbrushes are useful for adults with orthodontic attachments, as these make brushing easier for them.

Furthermore, the demand for children electric toothbrushes is also escalating, due to rising incidence of tooth decay and cavities among children and growing awareness among parents regarding the oral health of children.

The head movement segment of the electric toothbrush market is bifurcated into sonic/side-by-side and rotation/oscillation categories. The sonic/side-by-side category is expected to hold the largest market share in coming years, as the sonic technology provides thorough cleaning. A sonic toothbrush cleans the surface of the teeth by breaking up the plaque and then removing it from hard-to-reach areas inside the mouth. This is due to the better fluid dynamics and a higher number of strokes per minute offered by side-by-side toothbrush, in comparison to the rotation toothbrush.

Currently, European nations are adopting maximum number of electric toothbrushes, due to the rising consumption of sugar products, tobacco, and alcohol; booming geriatric population; and increasing focus on oral health in these countries. Heavy consumption of alcohol and a sugary diet are major issues in the European region. According to the World Health Organization (WHO), the member nations of the European Union (EU) consume the highest volume of alcohol in the world. This has led to several oral problems like periodontal diseases, dental caries, and destruction of teeth.

Furthermore, the Asia-Pacific (APAC) electric toothbrush market is expected to register the fastest growth during the forecast period. This can be attributed to the increasing adoption of online shopping that has resulted in easy availability of advanced toothbrushes. Moreover, the growing elderly population will fuel the demand for electric toothbrushes, as they are susceptible to chronic oral diseases, due to which they could develop sensitive gums and teeth. According to the 2019 World Population Ageing report by the UN, Asia will have nearly 954.6 million people aged 65 years and above by 2050.

Thus, growing consciousness regarding oral health and awareness about advantages of smart toothbrushes will propel the demand for electric toothbrushes in foreseeable future.

Rising Demand for Workforce Optimization To Drive HR Analytics Market

Driven by the changing business dynamics, increasing demand for an optimized workforce and efficient hiring, shift toward data-driven decision making, and growing need for effective talent retention strategies, the HR analytics market will witness a CAGR of 15.6% during the forecast period of 2019–2024. At this rate of progression, the value of the market is expected to increase from $2,045.5 million in 2018 to $4,763.5 million by 2024.

This projected growth is primarily driven by the surging demand for workforce optimization across the globe. Workforce optimization helps in capturing performance data in a standardized structure, for better decision making, orienting skills and resources to a certain job and customer demand, and empowering the HR to track the contribution and performance of employees by identifying employees who are at risk of missing their service goals. All this ultimately helps companies drive production and remain profitable amid strong competition from other companies in their industry.

Read More: https://www.psmarketresearch.com/market-analysis/hr-analytics-market

HR analytics is a popular technique that is being utilized for workforce optimization, by analyzing organizational data. These solutions provide HR professionals with an extensive understanding of the strengths and weaknesses of employees, the best way forward, and future shifts. These benefits help the HR in planning for an effective workforce, which is needed in any organization to stay ahead of the competition. The need for a skillfully articulated workforce planning strategy will, therefore, propel the HR analytics market growth during the forecast period.

The rising demand for efficient hiring is also adding significantly to the growth of the industry. HR analytics software offers insights into potential hires by analyzing their expertise and skills. In addition to this, the software assists organizations in making an unbiased decision based on this data, to reduce the discrepancies in hiring. Through this software, organizations yearn to have productive hiring that will help in the growth of their business.

Additionally, the adoption of new technologies in these solutions is one of the prime factors offering growth opportunities to the industry. HR analytics market players are incorporating machine learning and artificial intelligence (AI) in their products to widen their applications. AI could help HR leaders in identifying high-potential employees, endorsing learning courses, predicting results of talent decisions, forecasting employee flight risk, and unearthing engagement issues. This will eventually increase the workforce efficiency of enterprises.

The offering segment of the market is bifurcated into solutions and services, wherein the solutions category accounted for the larger market share in 2018 due to the increasing application of HR analytics software in several organizations. The solutions category is further divided into employee engagement, workforce planning, employee development, retention, compensation and incentive program, recruitment, and others, which includes time & attendance and employee performance. Among these, the workforce planning category of the HR analytics market generated the highest revenue in 2018 due to the growing demand for efficient resource utilization within enterprises.

Geographically, North America dominated the market in 2018, which can be primarily owed to the presence of several sizable industries with a highly skilled workforce. Moreover, the increasing expenditure on IT and technological developments will boost the regional market growth during the forecast period. Furthermore, it is being projected that the Asia-Pacific (APAC) HR analytics market will showcase the fastest growth during the forecast period, driven by the growing investments in IT by organizations, primarily in India and China, for improved operations.

Thus, in order to achieve higher profitability, by having a skilled and efficient workforce, companies are adopting HR analytics solutions.

Increasing Focus on Appearance Driving Sale of Color Cosmetics in U.A.E.

People in the U.A.E. are becoming more conscious of their appearance, therefore adopting color cosmetics, such as lipsticks, nail paints, hair color items, and eye shadow palettes. Thus, the adoption of these products is surging among young and working-class women as they help them look more beautiful. Moreover, social media sites are becoming a significant part of their life, and as they emphasize on the physical appearance and are more photo-centric, people’s appearance consciousness is surging. This will ultimately take the U.A.E. color cosmetics market size to $769.7 million by 2030 from $370.6 million in 2020, at a 7.6% CAGR.

Other than people becoming self-conscious, the growing digital marketing activities are propelling the demand for color cosmetics. Some of the major digital marketing channels are Instagram, Twitter, Facebook, and YouTube. They, along with several beauty blogs, are influencing consumers to try new cosmetics. In the U.A.E., there are around 1,000 beauty influencers, who provide information about the latest trends and options in cosmetics. Thus, digital platforms are boosting the sale of such products by becoming a significant tool for producers to interact with consumers.

This way companies have been able to sell more of luxury cosmetics than those targeted at the mass segment. It can also be ascribed to the surging personal income of the people and their shifting inclination toward a lavish lifestyle. The CEIC noted an increase in the disposable income of the country to $299,569.0 million in 2020 from $257,386.2 million in 2010. Even though luxury products are expensive, they witness high sales in the country because of the vibrant social and corporate culture here.

As a result, among all the color cosmetic products available, the country registers the highest demand for facial make-up products, including bronzers, facial compacts, highlighters, blushes, and foundations. It is also due to the increasing number of working women and their rising awareness on physical appearance. With offices of almost all multination companies in the U.A.E., the focus on looking good among peers is rather strong among women here, a trend that is now also picking up among men.

Thus, Dubai has been the largest contributor to the U.A.E. color cosmetics market till now. The increasing per capita expenditure over cosmetics has also played a key role in this regard. In addition, the increasing sales of cosmetics through various online channels have boosted the opportunities for personal care companies in Dubai. The population here is more cosmopolitan and richer in comparison to other emirates, as Dubai is one of the biggest financial hubs in the developing world.

Another key trend in the country with respect to cosmetics is the growing demand for organic products. Just like most synthetic products, synthetic cosmetics are made from crude oil derivatives and chemicals that harm the environment and human skin. Hence, with several beauty blogs also cautioning against the usage of products that are harmful to the skin and with the growing sustainability concerns, the demand for organic and natural cosmetic products is rising here.

Thus, the growing focus on physical appearance will elevate the demand for color cosmetics in the U.A.E. in the coming years.

Read More: https://www.psmarketresearch.com/market-analysis/uae-color-cosmetics-market

Surging Deployment of Electric Vehicles Fueling Demand for Battery Management Systems

The mushrooming deployment of electric vehicles, on account of the increasing concerns being raised over the escalating air pollution levels, is driving the demand for battery management systems across the world. As per the International Energy Agency (IEA), electric car sales surpassed 2.1 million in 2019. Furthermore, the organization reported that electric cars accounted for around 1% of the worldwide car stock in 2019. The emissions generated by petrol- and diesel-powered vehicles are majorly responsible for the deteriorating air quality levels.

As per Our World in Data, the transportation industry produced 16.2% of the total greenhouse emissions across the world in 2018. As electric vehicles assist in mitigating the emission of toxic gases, their increasing deployment is helping governments and environmental organizations reverse climate change and improve public health. Since battery management systems are integral components of electric vehicles, the soaring production of electric vehicles is positively impacting their worldwide sales. Apart from the surging deployment of electric vehicles, the increasing usage of rechargeable batteries in consumer electronic devices is also fueling the growth of the battery management system market.

Battery management systems are extensively used in consumer electronic devices for controlling battery operations. Additionally, they also monitor the state of rechargeable batteries, collect and report data, and monitor the health of batteries. This is why the ballooning use of consumer electronic devices such as laptops, wearable devices, and mobile phones is predicted to propel the revenue of the battery management system market from $5,661.0 million in 2020 to $22,279.6 million by 2030.

Furthermore, the market will advance at a CAGR of 15.0% from 2021 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. Battery management systems are used for managing lead-acid, lithium-ion, and nickel batteries. Out of these, the usage of these systems is expected to rise sharply for managing lithium-ion batteries in the coming years. This is credited to the fact that the use of lithium-ion batteries has surged massively over the last few years, on account of the soaring adoption of consumer electronic devices such as digital cameras, wearable devices, and mobile phones.

Geographically, the sales of battery management systems were found to be the highest in the Asia-Pacific (APAC) region in the past years. Moreover, the demand for these systems is expected to rise at the fastest pace in this region in the forthcoming years. This will be because of the growing deployment of electric vehicles, especially in China, which is rapidly becoming a major electric vehicle hub, owing to the launch of numerous joint ventures between leading automakers such as Ford Motor Company, Bayerische Motoren Werke AG, and Renault SA, and Chinese organizations such as Great Wall Motor, Zotye Auto, and Jiangling Motors Corporation Group.

Hence, it is safe to say that the sales of battery management systems will soar all over the world in the coming years, primarily because of the growing deployment of electric vehicles and the surging use of consumer electronic products such as laptops and mobile phones, in which, lithium-ion batteries are used extensively.

Read More: https://www.psmarketresearch.com/market-analysis/battery-management-system-market

Dynamic Pumps Dominate Cryogenic Pump Market, Owing to 79.4% Share

In 2021, the cryogenic pump market was valued for $1,407.6 million, and it is growing at a rate of 3.1% during the forecast period from 2021 to 2030, to hit $1,860.1 million revenue by 2030, attributed to the rising deployment of cryogenic pumps in chemicals, metallurgy, and electronics industry. Increased investments are made in the power generation sector to boost electricity production.

Dynamic pumps contribute massively to the cryogenic pump market revenue, accounting for 79.4% share, attributed to superior properties, higher efficiency, low maintenance, long life, and cost-effectiveness. There is increased demand for dynamic pumps in various industries such as healthcare, shipbuilding, energy, and power industries, resulting in market expansion.

Nitrogen is expected to experience the fastest growth in the market, and it is predicted to progress at a rate of 3% in the near future, ascribed to the major use of nitrogen gas in plant maintenance, as well as start-up and shut-down preparations of the refinery and petrochemical companies. Therefore, it is utilized in various industries such as metallurgy, healthcare, and oil & gas, hence causing a market boom.

Under the end user segment, the oil & gas industry dominates the cryogenic pump market, attributed to the surge in natural gas production and rising demand in various industries such as petrochemical, refining, fertilizer, and special chemical industries. Furthermore, the healthcare industry is expected to witness the fastest growth in the market, attributed to rising vaccine development with increased investments in the public and private sectors.

Cryogenic gases are massively used for the preservation of body fluids such as plasma, cells, and blood in healthcare facilities. In addition, cryogenic gas pumps also assist in the manufacturing of various pharmaceutical gels, ointments, tablets, and capsules due to their properties such as corrosion resistance and ability to function in high-temperature conditions leading to cryogenic pump market proliferation.

The surging demand for the chemicals and petrochemicals proliferate the cryogenic pump market, attributed to various applications such as oxidation process, sulfur recovery, cool reactors, coal gasification, and regenerative catalysis. It is ascribed to the worldwide increasing requirement for various petrochemicals and chemicals. For example, the petrochemicals’ production capacity is expected to reach 3,103.6 million tons per annum by 2030, resulting in enhanced petrochemicals and chemicals sector with increased investments.

APAC dominates the cryogenic pump market, accounting for $538.2 million revenue, and it is expected to follow the same trend in the near future, attributed to the rapid urbanization and development of energy & power, and metallurgy sectors in India, Japan, and China. Moreover, the Indian government is planning to ensure 24*7 uninterrupted electricity supply to its citizens. It is required to develop electricity generation systems to achieve the set target, therefore the government is focusing on the construction of natural gas-fired power plants that will lead to rising demand of cryogenic pumps in near future.

Therefore, various industrial applications of the cryogenic pumps with their low-cost maintenance and increased efficiency boom the market.

Read More: https://www.psmarketresearch.com/market-analysis/cryogenic-pump-market

Mattress Sales in Europe Driven by Rising Awareness of Sleep Deprivation Dangers

Almost every element of one’s health and well-being are influenced by sleep. The body lacks the resources it requires to function correctly if it does not get enough rest. A comfy mattress is one of the most basic remedies for a good night’s sleep. A mattress’s durability and longevity are influenced by a variety of variables. While all mattresses ultimately degrade, made of high-quality material last longer before sagging or forming permanent body indentations.

A decent mattress should aid sleep rather than disrupt it. If individuals experience discomforts every night, have trouble sleeping or wake up with physical aches, then a good mattress can be a life saver for them. People sleep in numerous sleeping positions without even realizing it. They can enhance or preserve their posture by having not only a decent but also the proper mattress. There are several health advantages to having a decent mattress, including:

• Promote good form and posture

• Keep mental and emotional health in check

• Enhance Quality of sleep

• Offer riddance from back and neck pains

Population in Europe are choosing mattresses from internet sites these days, thanks to the popularity of various online platforms. To preserve social distance and prevent COVID-19 infection, consumers are turning to internet platforms. Furthermore, while store-based commerce remains popular, big manufacturers are focusing on improving their internet presence and acquiring a competitive edge. The Europe mattress market to generate $14,382.8 million by 2030 from $7,877.0 million in 2021, advancing at a 6.9% CAGR from 2021 to 2030.

Commercial buildings such as hotels and restaurants and healthcare and hospitality sectors are the major users of mattresses in Europe. Such companies are producing customized mattresses suitable for multipurpose hospital beds to profit from the increased mattress demand from hospitals and clinics. Similarly, as tourism grows, the hotel industry is projected to see a surge in demand for premium and personalized mattresses in the years ahead.

Customized mattresses are quite popular among consumers. For example, Tempur Sealy International Inc. has begun to offer clients the option of customizing the thickness, stiffness, and size of their mattresses based on their preferences. Because each customer’s physical characteristics, including weight and height, are unique, personalization provides superior support while sleeping for various body types. Furthermore, while most mattresses come in conventional sizes, they do not always fit precisely in bespoke bed frames; therefore, a customized mattress is suggested in these situations.

Between 2000 and 2009, the overall disposable income of European Union (EU) households increased by 14%. Following the financial crisis, it fell by roughly 3% between 2009 and 2013, before rising by 11% between 2013 and 2019. During the COVID-19 pandemic, the growth rate in 2020 was 0.6 percent. As a result, growing disposable income has a beneficial impact on mattress demand, as mattresses are one of the most fundamental human needs. Furthermore, numerous governments have identified homeownership as a key policy aim and have created mortgage interest payments to encourage it.

Hence, the health of benefits of good sleep is snowballing the demand for a mattress. People are getting knowledge about how the mattress is affecting health which is also growing demand for a mattress.

Read More: https://www.psmarketresearch.com/market-analysis/european-mattress-industry

Why Are Working Women Increasingly Making Use of Diapers?

The number of working women has risen considerably in the past few years. As they have started realizing that they need to be responsible for themselves and be independent, more women have started stepping out of the boundaries of their houses. Over the years, the proportion of women in different industries has seen a hike.

Read More: https://www.psmarketresearch.com/market-analysis/diapers-market

This being said, it is also true that a large number of women are still majorly responsible for bringing up their children. Finding a balance between the personal and professional lives has never been more important for women. Ascribed to this, the demand for products that can aid in maintaining this balance, such as the humble diaper, has increased as well.

As per a research study conducted by P&S Intelligence, the diaper market is set to generate revenue of $90.8 billion by 2030, increasing from $50.5 billion in 2019 at a 5.7% CAGR during the forecast period (2020–2030).

How Are Women Really Responsible for Increasing Diaper Sales?

The diaper industry caters to both babies and adults; the demand for baby diapers has been higher up till now. The demand for these products is further predict to rise in the years to come, owing to the increasing birth rate in emerging economies. In addition to this, the increasing disposable income of people and growing awareness regarding hygiene also projected to lead to the high demand for these products.

Women, especially working women, really do have an important role to play here. As they head off to work not long after giving birth, they need something to keep the baby dry and sanitized, while they are away. This has been

encouraging them to go for diapers, so they can be assured about at least one aspect of baby care and work in relative peace.

Rising Awareness about Adult Incontinence also Bolstering Diaper Sales

Incontinence, the loss of bladder control, is, more often than not, an embarrassing problem for people. The severity of this problem can range from the leakage of urine while sneezing or coughing to having a strong and sudden urge to urinate, leaving the person with inadequate time to reach the toilet. The problem majorly affects older people, and it can be managed by seeking medical treatment.

Using a diaper is one of the best alternative ways via which this problem can be managed. The increasing geriatric population, growing number of adult incontinence cases across the globe, rising affordability and availability of these products, decreasing hesitation among people regarding the use of diapers, and surging disposable income are leading to the high demand for adult diapers.

Increasing Tourist Activities Driving Mattress Demand in U.S.

The U.S. Travel Association states that 79.3 million global visitations were recorded in the U.S. in 2019. The association also states that the federal government invested more than $21 million in the tourism sector in the financial year (FY) 2020–2021. It also reveals that the people in the U.S. made 2,317 million trips within the country in 2019. As the tourism industry is the backbone of the hospitality sector, the surging number of domestic trips will create a huge requirement for mattresses in the U.S.

Additionally, the booming construction sector, on account of the growing population and mounting investments being made in residential construction, will help the U.S. mattress market exhibit a CAGR of 4.8% during 2020–2030. According to P&S Intelligence, the market revenue will rise from $16,716.5 million in 2020 to $26,790.4 million by 2030. According to the U.S. Census Bureau, the population of the country will surge from 326 million in 2017 to 404 million by 2060. As per the bureau, the population will cross 400 million by 2058.

Read More:https://www.psmarketresearch.com/market-analysis/us-mattress-market

In recent years, the U.S. populace has shown a high inclination toward customized mattresses to enhance comfort and avoid potential back issues. Additionally, the availability of customized mattresses also enables customers to choose mattresses that fit perfectly into personalized bed frames. For example, Americans can buy customized mattresses from Tempur Sealy International, which offers the option of modifying the size, thickness, and firmness of mattresses as per the height and weight of individuals.

In the preceding years, the residential and commercial sectors in the U.S. preferred queen-size mattresses over king-size, single-size, and double-size mattresses, as they offer adequate space for two people and do not occupy much space in a room. All these different sizes of mattresses are available on online and offline distribution channels. In recent years, offline distribution channels recorded the highest sales of mattresses in the country as a large number of people prefer to visit a physical store to buy these products and trust physical retailers for aftersales services.

In the U.S., both distribution channels offer different sizes of latex, water, air, gel, hybrid, innerspring, and memory foam mattresses manufactured by Corsicana Mattress Company, Saatva Inc., Spring Air International, Purple Innovations Inc., Tempur Sealy International Inc., Kingsdown Mattress, Sleep Number Corporation, Leesa Sleep LLC, Casper Inc., and Serta Simmons Bedding LLC. These companies are currently focusing on offering improved mattresses to cater to the evolving needs of the customers.

Geographically, the Southern region dominated the U.S. mattress market in the recent past, primarily on account of the accelerating urbanization rate. Moreover, the presence of a large population in southern cities is also propelling the need for mattresses in the region. The U.S. Census Bureau states the population of the Southern region grew from 124,569,433 in 2018 to 125,580,448 in 2019. As per the organization, a large section of the country’s population resides in the region.

Thus, the flourishing tourism industry and expanding construction sector will create an enormous requirement for mattresses in the U.S.

Baby Food Products: Ideal Option for Working Women to Take Care of Their Babies’ Nutritional Needs

The number of working women across the globe has been increasing rapidly across the globe. For example, as per the Office for National Statistics, in September 2018, 74% of mothers were working in England, in comparison to 68% five years ago. Since it gets hard for working women to juggle work and take care of their children simultaneously, they are looking for ways that can help them maintain some balance. Attributed to this, the demand for baby food has risen significantly.

Owing to the limited amount of time that mothers have these days on their hand, parents are increasingly preferring baby food to take care of the baby’s needs. As per a report by P&S Intelligence, the global baby food market is predicted to advance at a substantial pace in the years to come. In addition to the increasing number of working women, the awareness about nutrition is also increasing around the world, which is further driving the market.

Read Full Report: Baby Food Market Revenue Estimation and Growth Forecast Report

Moreover, owing to the increasing disposable income, more people are now able to afford such products, which is why their demand is growing. Baby food is majorly meant for babies that are less than or about two years of years. In order to make the consumption easier for babies, the food is deliberately made soft. The different types of baby foods are prepared baby food, dried baby food, and formula, out of which, the demand for milk formula-based products has been considerably high.

Other than this, the demand for dried baby food is also projected to increase considerably in the coming years, since the food requirements of babies shift from milk formula-based foods to prepared and dried food, as they grow. Furthermore, the demand for prepared baby food is also predicted to increase in the in the near future because of the rising need for ready-to-eat baby foods across the globe.

Baby food products are available at mom& pop stores, supermarkets/hypermarkets, convenience stores, pharmacies, online, specialized stores, and online platforms. Owing to the swift growth of the e-commerce industry, the demand for baby foods is rising from online channels. As per the U.S. Census Bureau, the worldwide e-commerce retail sales increased by 16%, i.e. to $453.5 billion, in 2017, and held 8.9% share of the total retail sales. . People can shop for baby food products conveniently through online channels, which is why their popularity is growing.

Geographically, the baby food market was dominated by Asia-Pacific in the past, because of the surging population in a number of Asian countries, including Myanmar, India, Indonesia, and Bangladesh. In addition to this, the expanding organized retail sector is also resulting in the growth of the regional market. Besides this, the demand for baby food is also expected to rise in Middle East & Africa in the coming years, as the region includes countries with highest fertility rates.

In conclusion, the demand for baby food is growing due to the rising number of working women, increasing awareness about nutrition, and increasing disposable income across the globe.

How are Stepper Motors Making Countries Realize Smart Manufacturing Future?

The growing usage of miniature stepper motors in numerous electronic applications such as those requiring sensing and position control is the biggest factor driving the global demand for stepper motors. Miniature stepper motors are basically low-power stepper motors, built for functioning within the size constraints of many electronic devices. These motors are increasingly being used in digital cameras and lenses, electronic games and toys, computer peripherals, and industrial automation systems.

Apart from the ballooning demand for miniature stepper motors, the rapid progress of the robotics and automation industry is also fueling the sales of stepper motors across the globe. This is because of the rising requirement for industrial robotics solutions in manufacturing operations. Due to the various advantages of industrial robots such as their ability to be used as autonomous vehicles and the provision of on-floor personal assistance, they are increasingly being used in manufacturing plants.

Read More: https://www.psmarketresearch.com/market-analysis/stepper-motor-market

Additionally, the adoption of industrial robots allows the streamlining of manufacturing operations and human resources and the smoothening of logistics and supply chain management. Moreover, these robots greatly improve the efficiency of production processes and reduce the overall manufacturing time. Due to these factors, the popularity of industrial robotics systems is rising rapidly all over the world. This is, in turn, pushing up the demand for stepper motors, which is subsequently causing the boom of the global stepper motor market.

As a result, the market valuation is predicted to rise from $2.5 billion to $3.7 billion from 2019 to 2030. Furthermore, the market is predicted to advance at a CAGR of 3.4% between 2020 and 2030. Depending on type, the stepper motor market is divided into variable-reluctance, permanent-magnet, and hybrid motors. Out of these, the hybrid category recorded the highest growth in the market in the past years and this trend is likely to continue in the coming years.

Surge in Public Expenditure To Encourage Color Cosmetics Use in Saudi Arabia

The General Authority for Statistics (GASTAT) estimates that the average per capita monthly income and average per capita monthly expenditure of Saudi Arabia were SAR 2,741 and SAR 2,857, respectively, in 2018. As per the organization, the average monthly household expenditure of the male population and female population on personal goods and services stood at SAR 3,728 and SAR 1,111, respectively, in 2018. Thus, the rising expenditure of people on personal goods on account of their soaring per capita income will encourage the consumption of color cosmetics in Saudi Arabia.

Additionally, the increasing participation of women in the labor force will help the Saudi Arabian color cosmetics market witness a CAGR of 7.1% between 2020 and 2030. According to P&S Intelligence, the market revenue stood at $603.6 million in 2020, and it will reach $1,197.2 million by 2030. As per the GASTAT, nearly 20.7% of the labor force of the country comprised women in the first quarter of 2020, and the participation surged to 25.3% in the second quarter of 2020.

Moreover, the hefty investments being made in advertising and marketing initiatives, especially through digital channels and social media influencers, owing to the growing internet and mobile phone penetration, will facilitate the consumption of color cosmetics in Saudi Arabia. The Communications and Information Technology Commission (CITC), Ministry of Communications and Information Technology (MCIT), states that 93% of the people were internet users and 43.8 million people were mobile subscribers in Saudi Arabia in 2019. The CITC also states that the country has one of the largest numbers of social media users currently.

Men, women, and the unisex populations in the country can procure luxury and mass color cosmetic products from multi-brand retail stores, grocery/department stores, online stores, and supermarkets/hypermarkets. In the last few years, supermarkets/hypermarkets were the preferred distribution channels for color cosmetics in Saudi Arabia, owing to the availability of such mass and luxury products under a single roof and convenient operational timings of these stores. In addition, the surge in the urbanization rate, competitive pricing, and boom in the working population increase the footfall of customers at supermarkets/hypermarkets.

Read More: https://www.psmarketresearch.com/market-analysis/saudi-arabia-color-cosmetics-market

Surging Construction Industry Driving U.S. Mattress Market Growth

A number of factors, such as the growing construction industry, booming hospitality and tourism sectors, surging concern toward sound and healthy sleep, and increasing prevalence of back and spine problems, across the country, are expected to drive the growth of the U.S. mattress market at a CAGR of 4.8% during the foreseeable period (2020–2030). According to P&S Intelligence, the market generated $16,716.5 million revenue in 2020, and it is expected to reach $26,790.4 million by 2030.

One of the prime factors aiding the U.S. mattress market growth is the surging construction industry. For instance, as per the U.S. Census Bureau, construction spending reached $1.324 trillion in 2019, from $1.271 trillion in 2018 in the country. Moreover, the spending on private construction was 1.6% more in 2019 as compared to 2018. Likewise, residential construction spending was 2.7% higher in 2019, than the previous year. The data states that the construction sector is observing notable growth in the U.S., which is driving the demand for mattresses.

Furthermore, the booming hospitality and tourism sectors are also driving the need for mattresses in the U.S. For instance, travel activities in the country reached a total of 2.3 billion person-trips, augmented by 1.7%, in 2019. Moreover, domestic leisure travel activities stood at 1.9 billion person-trips, increased by 1.9%, in 2019. Similarly, domestic business travel activities reached 464 million person-trips, amplified by 1.1%, in 2019, as compared to 2018.

The product segment of the U.S. mattress market is categorized into innerspring, memory foam, and latex. Among these, the memory foam category is projected to witness the fastest growth during the forecast period. This can be ascribed to the high usage of this type of mattresses by individuals, as these help in relieving muscle pain and body stress. Moreover, they are suitable for side-sleepers and helpful in reducing allergies.

Increasing Disposable Income Leading to Surging Demand for Razors

In 2021, the global razor market was worth around $17,405.4 million, which is predicted to touch $20,866.6 million by 2030, growing at a 2.0% CAGR from 2021 to 2030. Humans have always been captivated by physical attractiveness, which is related to self-confidence and self-esteem. The increased awareness of personal cleanliness among both men and women, as well as the growing demand for on-the-go grooming options, are driving razor demand even higher.

In 2021, the cartridge razors category led type segment of the razor market, with a sales share of roughly 40%. This is because cartridge blades are quite simple to replace. This product is also highly marketed by personal care firms, which helps in its widespread usage. Furthermore, cartridge razor demand is particularly strong in Europe, and APAC accounts for the majority of sales. Gillette cartridge razors are by far the most commonly used razors across the world.

The electric razor category is predicted to have the highest razors market CAGR, of roughly 5%, in the coming years. The rising demand for electric razors in APAC is to attributed for this. Global usage of electric razors has also been fueled by their ease of use and convenience. Additionally, it is expected that the growing fad for growing beards and stubble, particularly among young people, will further fuel the adoption of electric razors throughout the decade.

In 2021, the stainless-steel category held the biggest razor market share in terms of blade type. This is mostly due to the better construction quality and resistance to corrosion of stainless-steel blades. Manufacturers and customers are transitioning to stainless-steel blades as a result of these factors. Customers are more inclined to purchase these blades since they maintain their sharpness for a longer time. Additionally, the blade heats up rapidly so that users won’t feel the metal’s coldness on their skin.

The category of hypermarkets/supermarkets accounted for the biggest revenue share among distribution channels in 2021, with a share of almost 40%. This is mostly because a wide variety of razor goods are readily available, allowing buyers to physically compare and check products before making a purchase. The online distribution channel category, on the other hand, is predicted to develop at the highest CAGR, of 3.0%, during the projection period.

Read more: https://www.psmarketresearch.com/market-analysis/razor-market

Rising Aromatherapy Demand Fueling Essential Oils Market Growth

A number of factors such as the booming demand for aromatherapy, surging customer preference for natural products, and increasing consumption of essential oils in the cosmetics and food and beverage industries are expected to drive the essential oils market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated a revenue of ~$11 billion in 2020. In recent years, the escalating use of essential oils at spas has become a prominent market trend, owing to the rising public awareness of skincare treatments.

The burgeoning demand for aromatherapy is one of the primary growth drivers for the market. Aromatherapy refers to an alternative treatment process that utilizes naturally harvested essences to support, harmonize, and balance the mental and physical health of patients. This treatment process uses essential oils as they activate the smell receptors in the nose, which convey information to the brain through the nervous system. The oil is also used to treat anxiety or chronic stress, fatigue, skin problems, depression, and respiratory infections.

At present, the essential oils market is fragmented in nature, due to the presence of few companies such as Frontier Co-op, dōTERRA International LLC, PublicGoods, Plant Therapy Inc., Organic Aromas, Rocky Mountain Oils LLC, REVIVE Essential Oils LLC, Young Living Essential Oils, NOW Health Group Inc., Edens Garden, Majestic Pure Cosmeceuticals, and Vitruvi. These market players are mostly focusing on product launches to gain a competitive edge. For instance, in August 2020, Young Living Essential Oils announced a series of new products, such as Ecuadorian oregano oil and cassia oil.

Categories under the essential oils market are orange, eucalyptus, cornmint, peppermint, citronella, lemon, lime, clove, spearmint, rosemary, lavender, and others. Among these, the orange category generated the highest revenue in 2020, as the consumption of orange oil helps in improving the skin, hair, nail, and hair quality. The oil is used to treat stretch marks and acne, improve skin blood flow, rejuvenate skin, and loosen up nearby tissues. Moreover, the vast availability of oranges in India, Mexico, and China will also support the growth of this category in the foreseeable future.

Read More: https://www.psmarketresearch.com/market-analysis/essential-oils-market

How is the Expanding E-Commerce Industry Contributing to Growing Demand for Seasonings and Spices?

The preference of consumers has changed radically since the past few years. A major reason for this is globalization, owing to which, different cultures are now being celebrated all across the globe. This includes the changing eating habits of people, as now consumers are open to experimentation and are increasingly trying new flavors and tastes. Recently Mexican, Chinese, and Continental cuisines have become increasingly popular all across the globe. These cuisine make extensive usage of different kinds of spices and seasoning, because of which, the demand for these products is growing rapidly all across the globe.

Another major reason for the growth of the seasonings and spices market is the rapid expansion of the e-commerce industry. Much like several other industries, the seasonings and spices has also recognized the potential of online platforms, which is why several companies have started selling their products on a number of online platforms. Other than this, online advertising has also become a major part of marketing campaigns for these companies. Through online advertising, seasonings and spices companies are encouraging people to come up with new recipes at their houses and hosting competitions, which aid in establishing the identity of the brand in the market.

People these days are becoming conscious regarding their health, due to which they have started cooking meals at home instead of going out. This, in turn, is resulting in the growing demand for seasonings and spices. In addition to this, consumers are increasingly becoming aware regarding the medical benefits. These products can significantly help in the management of several diseases and disorders. For example, the utilization of cinnamon aids in lowering heart disease risk factors and blood sugar levels. Similarly, sesame seeds help in improving blood pressure and heat health, balancing hormones, enhancing nutrient absorption, and fighting cancer.

The global seasonings and spices market is projected to generate a revenue of $30.4 billion by 2023, increasing from $21.5 billion in 2017, and is predicted to progress at a 6.0% CAGR during the forecast period (2018–2023). The market is bifurcated into whole and ground in terms of product, between which, the whole bifurcation accounted for the larger share of the market in 2017. This is due to the fact that whole seasonings and spices are utilized in both residential and industrial sectors. The bifurcation is further divided into ginger, aniseed, saffron, chili flakes/pepper, vanilla, chives, tarragon, cinnamon, thyme, cumin, rosemary, dill, sesame, fennel, blue poppy seeds, and white poppy seeds.

Increasing Demand for High Bandwidths Boosting Adoption of Structured Cabling

Structured cabling can help in making cabling management easy as it can be laid and managed by fewer staff members. This is why this system is required in today’s times, when the penetration of the internet is rising in almost every sector. According to P&S Intelligence, the increasing use of the internet is raising the demand for high bandwidths, as they enable data-intensive enterprise processes, such as high-volume online search, real-time data gathering and transfer, remote employee monitoring, and video conferences.

Thus, the installation of advanced cabling is rising among government, telecommunications, commercial, and industrial organizations. In addition, this cabling system can be cost-effective in the long run and time saving, and it is a more-organized and -standardized cabling approach than patch cords. Due to such advantages, the structured cabling market 2030 size will be $12,916.5 million, compared to the estimated $6,912.1 million of 2021, growing at a stable 7.2% CAGR till 2030.

Get More Insights: Structured Cabling Market Segmentation Analysis Report

A proper structured cabling system comprises cables and other components, all of which could be of copper or optical fiber. Among these, copper cables were the most-highly demanded in the past due to their cost-effectiveness over fiber cables and their installation. Copper is among the best conductors of electricity and corrosion-resistant, which reduces the risk of deterioration and cuts maintenance costs. In addition, copper wires can be bent into different shapes, which allows for their installation in narrow openings and tight corners.

Considering the applications for which these cables and other components are used, the structured cabling market was dominated by the LAN category in the past. It is attributed to the fact that LANs offer great flexibility to a company to connect printers, computers, surveillance cameras, phones, and photocopiers to the overall enterprise IT network. This makes the devices used by companies independent, which ultimately helps in improving the overall productivity.