Market Trends and Growth: July 2020

Friday 31 July 2020

Riding Boots Market Size Worth $2.18 Billion By 2025 | CAGR: 6.1%

The global Riding Boots Market size is expected to reach USD 2.18 billion by 2025, exhibiting a CAGR of 6.1% during the forecast period, according to a new report published by Grand View Research, Inc. Increasing enthusiasm for cruiser, sport, and dirt bikes for long road trips and adventurous off-roading is expected to be a key growth driver. Rising road safety awareness in order to prevent the road traffic crashes is anticipated to drive the market demand for various safety gear including riding boots.

Stringent government policies to encourage motorcycle safety and adoption of safety gears, such as riding shoes for riders as well as pillions is expected to positively influence the market growth. Rising incidence of road crashes is one of the major challenges for the governments and authorities. Introduction of effective and sustainable safety solutions for such accidents is expected to further drive the product demand. According to the Global Status Report on Road Safety 2018, published by the World Health Organization (WHO), in 2016, 1.35 million people lost lives in various motorbike and road traffic accidents. Rising awareness regarding rider safety is expected to drive the bike shoes market over the forecast period.

Sport and race boots was the largest product segment in the market, with a share of more than 60% in 2018 and is anticipated to continue its dominance during the forecast period. Key manufacturers offer innovative boots, developed from composites materials for utmost safety and comfort. For instance, in July 2018, Alpinestars S.p.A launched a newest series of riding gears including riding boots called Tech 10. These boots are designed using latest Front Flexion Control Frame technology with resigned foot shell and slimmer outsole. According to the company, the new buckles added to the footwear are durable and better to operate. Such product launches are anticipated to boost the bike gear market over the forecast period.

Europe was the largest market, with a share of more than 30.0% in 2018. Strong foothold of largest sports bike manufacturers including Ducati, Aprilia, Benelli, and Cagiva is expected to ensure the continuous popularity of motorcycling in Europe and thus, in turn, will expand the scope of riding footwear over the next few years. Key product manufacturers, such as Alpinestars S.p.A, LeMans Corporation, Dainese S.p.A, FOX, FLY Racing, and TCX S.r.l., focus on launching new products to gain greater consumer base.

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Further key findings from the report suggest:

Asia Pacific is expected to register the fastest CAGR of 6.6% from 2019 to 2025, owing to implementation of road safety rules along with the strong foothold of motorbike consumers in countries including China, Japan, South Korea, and India
Cruising and touring riding shoes market is expected to witness the fastest CAGR of 6.3% from 2019 to 2025 owing to rising popularity of long road trips as a recreational activity
Online distribution channel segment is anticipated to register the fastest CAGR of 6.8% from 2019 to 2025, as these channels offer high level of convenience to the consumers
Key market players include Alpinestars S.p.A, LeMans Corporation, Dainese S.p.A, FOX, FLY Racing, GAERNE USA, Harley-Davidson, Inc., Royal Enfield, SULLIVAN'S INC., and TCX S.r.l.

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Mineral Cosmetics Market: Industry Outlook, Opportunity Analysis and Forecast

The global Mineral Cosmetics Market size is expected to reach USD 4.3 billion by 2025, expanding at a CAGR of 5.3%, according to a new report by Grand View Research, Inc. Shifting consumer preference for organic and natural beauty products is driving the market across the globe. Increasing consciousness about physical appearance coupled with growing purchasing power in the developing economies including China, Brazil, and India is fueling demand for the products. In addition, rising female participation in the corporate sector on a global level has been boosting the demand for mineral cosmetics products over the world.

Facial products accounted for more than 40% of the total revenue in 2018. Over the past few years, the mineral foundation has become popular among consumers as they are more beneficial for skin as compared to conventional makeups. These foundations generally contain zinc oxide and titanium dioxide, which provide sun protection, better coverage, and hide the aging lines nicely. The growing popularity of online makeup tutorials and social media has been propelling the growth of facial makeup products over the world. Lately, water-resistance and sweat-proof foundations are gaining significant popularity among consumers.

The industry is highly competitive and has well-established companies offering a wide range of products across several product categories. Manufacturers have been strengthening their position and expanding product lines through merger and acquisition and product innovation. For instance, in January 2016, L’oréal S.A. acquired Raylon Corporation, a wholesale distributor operating in 48 states. The acquisition was done in an attempt to expand its distribution network in U.S. to boost the company’s market penetration. Similarly, in June 2017, BWX Limited acquired North Castle Partners’s Mineral Fusion Natural Brands LLC. Through this acquisition, BWX entered the U.S. cosmetics market as Mineral Fusion is a well-established natural cosmetics brand in this country.

The key competitors in the industry include Mineralissima Mineral Make-up; Glo Skin Beauty; Shiseido Company Limited; Iredale Cosmetics, Inc.; BWX Limited; L'Oréal S.A.; Revlon, Inc.; The Estée Lauder Companies Inc.; Ahava Dead Sea Laboratories, Limited; and Cover FX.

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Mineral Cosmetics Market Report Highlights

The face products segment generated a market revenue of more than USD 1 billion in 2018, emerging as the largest segment. Lip products are expected to witness the highest CAGR of 5.6% from 2019 to 2025 owing to rising appearance consciousness among working women
In terms of distribution channel, offline sales dominated the mineral cosmetics market and accounted for more than 75% of the global revenue in 2018. Online distribution channel is expected exhibit a CAGR of 6.0% from 2019 to 2025
North America dominated the market in 2018, accounting for more than 35% of the global revenue share. Asia Pacific is expected to observe the fastest growth during the forecast period owing to rising purchasing power of consumers.

Car Wash Services Market Growth, Size, Share and Forecast

The global Car Wash Service Market size is expected to reach USD 41.1 billion by 2025, according to a new report by Grand View Research, Inc., registering a 3.2% CAGR over the forecast period. Growing trend of vehicle maintenance in order to boost its resale value is expected to boost the demand for car wash services in the coming years. Harmful chemicals that accumulate on the vehicle over time can cause the metal to corrode. These deposits are difficult to remove by merely cleaning with a sponge or brush. Moreover, these household cleaning products could result in scratches on the surface of the vehicle, further damaging the vehicle’s exterior. As a result, consumers prefer and trust professional car wash services. In addition, the hassle of self-cleaning is avoided thanks to such amenities.

As per International Carwash Association (ICA), there has been a steady decline in home vehicle washes in the past 18 years. In 1996, 47.6% consumers preferred washing their vehicles at home whereas in 2014, only 28.4% consumers opted for the same. This significant shift is owing to benefits such as speed, convenience, and efficiency offered by professional car wash operators. Growing consumer discretionary spending in certain countries is also expected to support market growth. Increasing awareness regarding wastage of water by washing vehicles at home is giving the market a major boost.

However, strict government regulations regarding water usage in professional vehicle washing services act as a restraint for market growth. For instance, in California, car wash services are required to reuse 50% of the water used during a car wash. To adhere to this requirement, operators are compelled to use zero-degree nozzles, which results in added cost of investment and lower profit margins. Nevertheless, some operators see this as an opportunity to go green and are turning to waterless cleaning practices. Self-service vehicle washing is highly popular among consumers who prefer to wash their vehicles by themselves. Flexibility on usage of foam, water, brush, and other equipment for car wash and payment only for the amenities they use are some of the factors behind the rising popularity of this service.

The market in Middle East and Africa is estimated to witness steady growth over the forecast period owing to increasing number of cars and improving economic conditions in numerous countries in the region. With a ban on washing vehicles in public spaces in several countries in the region, there is more scope for professional car washes. Scarcity of water in the region has also compelled operators to introduce innovative eco-efficient car wash techniques.

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Car Wash Service Market Report Highlights

The self-service segment accounted for the second-largest market share in 2018 and will also register steady growth over the forecast period. Flexibility on usage of cleaning supplies and payment only for the amenities used are some of the factors driving the popularity of this service
The roll-over/in-bay segment held the largest revenue share in the market in 2018 thanks to low operating cost and less space required for installation. The segment is anticipated to retain its lead through 2025
North America is the largest and most mature market for car washing solutions, with U.S. accounting for more than 43.0% of the global revenue in 2018. More than 2 billion cars are washed in the region each year
Some of the key players operating in the global car wash services market are Mister Car Wash; Zips Car Wash; International Car Wash Group (ICWG); Autobell Car Wash; Quick Quack Car Wash; Super Star Car Wash; True Blue Car Wash; Magic Hand Car Wash; Hoffman Car Wash; and Wash Depot Holdings Inc.

Scented Candles Market: Industry Outlook, Opportunity Analysis and Forecast

The global Scented Candles Market size is expected to reach USD 545.2 million by 2025, expanding at a CAGR of 8.4%, according to a new report by Grand View Research, Inc. Shifting traction towards various therapeutic procedures including aromatherapy, massage, and spa in order to relax human’s body is expected to expand the market and scope for scented candles. Additionally, organically prepared scented candles play a unique role in aroma therapy as they act as diffuser for fragrances, which can be inhaled easily by consumers.

The utilization of these candles in aromatherapy results in providing various benefits such as improving sleep, soothing sore joints, treatment of headaches and migraines, fighting bacterial infection, improving digestion, and boosting immunity. According to a research published in November 2016, in Pain Research and Treatment on “The Effectiveness of Aromatherapy in Reducing Pain”, it was found that the therapeutic procedure had a significant beneficial effect in combating pain. Such research studies are expected to play a key role in promoting the application of various therapeutic procedures and thus, in turn, will expand the market for scented candles over the next few years.

Product innovation is expected to remain a critical success factor over the next few years. In September 2019, iheartpopcandles launched the "McDreamy" candle inspired by fictional neurosurgeon on Grey’s Anatomy, Dr. Derek Shepherd. The candle is being sold on Etsy for USD 20 and is expected to have a fragrance resembling a mix of sea and salt. In the same month, another manufacturer, Poundland launched three new cocktail inspired scented candles, such as Rhubarb and Ginger, Bellini Surprise, and Prosecco Fizz.

In September 2019, Yankee Candle Company launched a candle range designed for any new parents of a newborn. The range is available in varieties of colors and emblazoned with different colored balloons expressing the gender of the baby. The larger jar is available for GBP 27.9 and the smaller jar is available for GBP 17.9. Available fragrances include clean cotton, soft blanket, cherry blossom, fluffy towels, and warm cashmere.

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Scented Candles Market Report Highlights

The container based segment accounted for more than 55% of the global market revenue in 2018. The dominance is attributed to easy access to these products through offline channels along with excellent convenience offered to the buyers. The pillar segment is expected to witness a CAGR of 8.1% from 2019 to 2025
The online segment is expected to witness fastest growth at a CAGR of 9.2% from 2019 to 2025. Most major manufacturers are spending on development of their in-house online distribution channels, in order to serve their buyers. Convenience stores accounted for more than 55% of the global scented candles market revenue in 2018
North America accounted for more than 35% of the global market revenue in 2018. Increased number of spa and massage center in U.S. and Mexico is expected to keep the dominance of the region over the next few years

Thursday 30 July 2020

Stuffed Animal & Plush Toys Market Worth $13.34 Billion By 2025

The global Stuffed Animal & Plush Toys Market size is expected to reach USD 13.34 billion by 2025 registering a CAGR of 7.61%, according to a new report by Grand View Research, Inc. Growing target population across the globe is expected to be the major factor driving the growth of this market. Moreover, high impact of various cartoon shows and action movies plays a key role in boosting the demand for stuffed and plush toys. In addition, collaborations among key companies and constant product innovations are expected to have a positive impact on the growth of this market.

For instance, Reliance Retail acquired one of the world’s largest toy store, Hamleys, to expand its geographical reach. Manufacturers are focusing on innovation and development to offer products equipped with advanced features, such as GPS trackers and sensors. North America is anticipated to be the largest regional stuffed & plush toys market by 2025 due to increasing sales of custom-made toys, such as action figures and cartoon toys. On the other hand, Asia Pacific is estimated to register the fastest CAGR over the forecast period. The offline distribution channel segment is expected to account for the largest market share by 2025.

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Further key findings from the study suggest:

In terms of revenue,cartoon toy products segment is projected to ascend at the fastest CAGR of 9.32% over the forecast period
The offline distribution channel segment dominated the global stuffed animal & plush toys market with an overall share of 86.33% in the year 2018
North America was the dominant regional market in 2018 and is projected expand further at a steady CAGR over the next few years
Mattel, Inc.; Bandai Namco Group; LEGO A/S; Hasbro, Inc.; Simba Dickie Group; Spin Master Ltd.; and Budsies LLC are some of the key companies in this market

Smart Toilet Market Size is Projected to Observe 10.3% CAGR till 2025

The global Smart Toilet Market size is expected to reach USD 12.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.3% over the forecast period. Rising consumer awareness regarding cleanliness and maintaining proper hygiene at the global level is expected to promote the utility of smart toilet. Additionally, shifting preference towards smart homes in the urban cities due to increasing importance of proper sanitation and offering convenience to the buyers is expected to increase spending on the installation of new smart toilets in the residential and commercial sectors.

The governments of different countries including U.S., Germany, France, China, and India have been implementing numerous initiatives to increase awareness regarding the importance of saving water at the global level. As a result, smart toilets are expected to optimize the water flow and thus, likely to gain importance over the next few years.

The commercial segment generated a revenue of USD 4.6 billion in 2018. These types of smart products are majorly installed in hotels, restaurants, shopping malls, and bars as consumers perceive them as the luxury products. Furthermore, increasing spending on real estate investment in the commercial sector of countries including China, India, Brazil, and Mexico is a key factor driving the segment. Supportive government policies aimed at infrastructure development are expected to expand the scope for smart toilet vanities as luxury products over the next few years.

The offline channels generated a revenue of USD 5.3 billion in 2018. Consumers prefer these channels as they provide a choice of physical verification, prior to any purchasing decision. Additionally, these brick and mortar stores offer installation as well as aftersales services, which encourage the buyers to use these channels.

Asia Pacific is expected to be the fastest growing region with a CAGR of 12.8% from 2019 to 2025. Key countries contributing to the growth of the smart toilet market are China, Japan, India, Australia, and Singapore. It has been observed that sale of the smart toilet is increasing due to factors including rise in disposable income of the middle class population and increasing number of smart houses in the urban cities of the aforementioned countries. Furthermore, growing consumer spending on bathroom hygiene and sanitation is expected to expand the market scope in the upcoming years.

Some of the key smart toilet manufacturers are Kohler Co.; Toto Ltd.; Roca Sanitario SA; LIXIL Group Corporation; Duravit AG; Wellis; Masco Corporation; Bradley Corporation; Fortune Brands; and Villeroy & Boch AG. Companies are investing in product innovations to expand their customer base. For instance, in December 2016, “Somany Ceramics Ltd.” has launched a range of smart toilets with automatic flash system.

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Further key findings from the report suggest:

The residential application segment is expected to expand at the fastest CAGR of 10.7% from 2019 to 2025 as a result of increasing number of smart homes in the urban cities of key markets including U.S. and China
The offline segment generated a revenue of USD 5.3 billion in 2018. Online channel is the fastest growing segment with a CAGR of 10.8% from 2019 to 2025 due to its doorstep delivery services
Europe was the largest regional market with a revenue of USD 2.4 billion in 2018
New product launch is expected to remain a key strategy among the market participants over the next few years.

Wednesday 29 July 2020

Spectacles Market Trends and Growth Opportunities

The global Spectacle Market size is expected to reach USD 92.96 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 2.4% during the forecast period. Rising incidences of refractive errors, especially among younger population is anticipated to boost the product demand. Furthermore, preference for prescription glasses over contact lenses for effective vision correction is expected to positively influence the growth. Rise in aging population is anticipated to further drive the growth. Increasing prominence of computer glasses to reduce eye strain and headaches is also anticipated to fuel the product demand.

Vision problems are prevalent among younger generation owing to technological disadvantages of extended usage of computers, smartphones, televisions, and other digital devices. Increased risk of Computer Vision Syndrome (CVS) is anticipated to drive the demand for anti-glare glasses and in turn fuel the spectacles market.

Currently, around 30% of global population is myopic. Around 80% to 90% young population of Asian countries such as China, Japan, Singapore, and South Korea suffers from myopia. According to the Journal of Ophthalmology, by 2050, around 50% of the global population will be myopic. According to the National Health Commission, in 2018, around 53% of mainland Chinese children and adolescents were suffering from myopia. Such high prevalence of nearsightedness is a prominent factor driving the demand for spectacles from Asia Pacific.

Commoditization of eye wear industry, influence of media and entertainment personalities, and willingness to splurge on fashionable spectacles are some of the factors driving the product demand. Rising fashion consciousness among millennials coupled with availability of a wide range of fashionable spectacles is anticipated to propel the market. Furthermore, rising demand for vision correction lenses among aging population from Asian and Latin American countries is anticipated to fuel the market growth.

Lens segment held the largest market share of 56.2% in 2018, owing to the rising occurrence of vision problems. Rising demand for plastic frames owing to their improved durability and ease of repairing is anticipated to impel the growth of this segment. Manufacturers constantly innovate lens material and add new features to the product. For instance, Crizal lenses by Essilor Ltd. are manufactured using hydrophobic coating that prevents water droplets from sticking to the surface of the lens.

Online distribution channel is expected to witness the fastest CAGR of 3.2% from 2019 to 2025 owing to increasing prominence of online shopping for spectacles. The ease of shopping with customization and configuration options coupled with doorstep delivery is anticipated to fuel the growth of the segment. Prominent players in the segment include Warby Parker and ZENNI OPTICAL, INC.

North America held the largest market share of 32.6% in terms of revenue in 2018. Rise in aging population in U.S. and Canada is expected to drive the regional demand for spectacles. According to the Vision Council of America, 75% adults from U.S. use vision correction measures, of which around 64% use eyeglasses. This factor is anticipated to propel the regional market over the forecast period.

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Further key findings from the report suggest:

North America held the largest revenue share of the spectacles market in 2018 and is anticipated to continue its dominance over the forecast period
Frames segment is expected to expand at the fastest CAGR of 2.7% from 2019 to 2025 due to rise in demand as a result of increased commoditization
In 2018, offline distribution channel held the largest market share of about 84.9% in terms of revenue
The market is highly competitive in nature with the presence of key players including Essilor, Ltd.; Johnson & Johnson Vision; CIBA VISION; ZEISS International; HOYA Corporation; ZENNI OPTICAL, INC.; Warby Parker; Lenskart; Titan Company Limited; and MODO

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Portable Toilet Rental Market Trends, Segmentation and Future Scope

The global Portable Toilet Rental Market size is expected to reach USD 24.70 billion by 2025 registering a CAGR of 7.30%, according to a new report by Grand View Research, Inc. Rising concerns about proper hygiene and sanitation in emerging region like Asia Pacific is the key factor driving the market growth. Moreover, rise in the demand for cost-effective and low-maintenance portable toilets on account of rapid urbanization and expanding construction sector in Asia Pacific will boost market growth.

In addition, strict regulations and heavy investments by the governments across the globe to provide proper sanitary units is fueling the demand for portable toilets. Thus, increasing number of installations of portable toilets in public areas, such as parks and streets, is likely to augment the market growth. Asia Pacific is anticipated to be the largest as well as the fastest-growing regional market over the forecast period. Led by Germany and France, Europe is also estimated to witness a significant growth in future.

Major companies in the market have undertaken several strategies, such as product development, mergers and acquisitions, marketing campaigns, etc. to gain a higher market share. For instance, Sanitech acquired Rent-A-Toilet’s Namibian operations. Some of the prominent companies in the market include Sanitech; Satellite Industries; ADCO International; B&B Portable Toilets; Camco Manufacturing, Inc.; PolyJohn Enterprises Corp.; Shorelink International; NuConcepts, and ARMAL, Inc.

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Further key findings from the study suggest:

The luxury portable toilets product segment is projected to ascend at the fastest CAGR of 8.41% over the forecast period
The construction application is estimated to be the largest segment accounting for a share of more than 55% by 2025
Asia Pacific was the dominant regional market in 2018 and is projected to expand further at the maximum growth rate from 2019 to 2025
The region’s growth can be attributed to the increasing disposable income levels in emerging countries, such as India, South Korea, and China

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Tuesday 28 July 2020

Global Rice Bran Oil Market Size is Estimated to Value $5.12 Billion By 2025

The global Rice Bran Oil Market size is anticipated to reach USD 5.12 billion by 2025, according to a new report by Grand View Research, Inc. The global market is estimated to expand at a CAGR of 3.44% from 2019 to 2025. This growth is attributed to rising awareness about the health benefits of rice bran oil. Moreover, high product demand as a result of increased health consciousness and consumption of fat-free and nutritious food products will boost the growth further.

The food & beverage held the largest market share of more than 55% in 2018 and will retain the dominant position throughout the forecast years. This is owing to rising usage of rice bran oil in various food and beverage products. On the other hand, the nutraceutical application segment is expected to witness the fastest CAGR of 5.01% form 2019 to 2025.

In 2018, the offline distribution channel accounted for the largest market share. The online segment, however, is forecasted to expand at the highest CAGR of 5.59% over the forecast period. Popularity of e-commerce sites and rising number of manufacturers establishing their own websites are driving the growth of this segment. Asia Pacific was the largest regional market in 2018 owing to the high product consumption in countries, such as India, China, and Japan.

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Further key findings from the study suggest:

The online distribution channel segment is projected to register the fastest CAGR over the forecast period
Nutraceutical application is estimated to be the fastest-growing segment at a CAGR of 5.01% from 2019 to 2025
Asia Pacific accounts for the highest market share of the global rice bran oil market; while North America is projected to register the maximum growth rate during the forecast years
Some of the key companies are Ricela Health Foods, BCL Industries & Infrastructure, 3F Industries Ltd., Sethia and A.P. Refineries Pvt. Ltd., Maheshwari Solvent, Malar Solvent, Modi Naturals Ltd., Harwin Agro Enterprises, Vaighai Agro Products Ltd., Adani Wilmar, Marico Ltd., ITC Ltd., and N.K. Proteins Ltd.

Cashew Milk Market Size is Expected to Observe 5.0% CAGR till 2025

The global Cashew Milk Market size is expected to reach USD 53.2 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.0% from 2019 to 2025. Growing awareness regarding benefits of cashew milk such as weight loss, strengthening of immunity, beneficial for lever health, and antioxidant support. Moreover, it reduces the risk of heart diseases, lowers the cholesterol level, improves digestive system, and treats inflammation, thereby driving the demand for the product.

Growing penetration of cashew milk as a diary alternative is attributed to increasing number of individuals with lactose intolerance. Moreover, rising health consciousness among the consumers and growing demand for high nutrition and reduced fat beverages are expected to drive the market in the coming years. Companies are spending on research and development to distribute the product through emerging online channels and make it feasible for the consumers to consume it.

Plain milk held the largest share of 72.7% in 2018. High demand for plant based milk in the creamy fluid texture due to increasing health consciousness is driving the segment. Flavored milk is expected to expand at the fastest CAGR of 5.3% over the forecast period. Changing taste and preferences are resulting in high consumption of flavored milk. For instance, White Wave Foods Company launched silk vanilla cashew milk under Non-GMO project with special creaminess and no preservatives.

Online distribution channel is expected to expand at the fastest CAGR of 5.7% over the forecast period. Companies are tying up with online retailers as well as introducing their e-portals such as Alibaba, Amazon, Walmart, Big basket, nature’s basket, luckyvitamin.com, and delights food (India). For instance, So Delicious Co. has tied up with Amazon to distribute its product and reach a vast consumer base.

North America was the largest regional market with a revenue of USD 12.9 million in 2018 and is expected to maintain its lead over the forecast period. Companies are engaging themselves into development and new product launches owing to growing trend of consumption of nutrients, vitamins, and proteins. For instance, So Delicious Co. provides unsweetened cashew milk beverage through various distribution channels in order to cater to the vast consumer base.

Key players in the market include White Wave Services Inc.; Forager Project; Provamel; Plenish Cleanse Ltd.; Nutty life, LLC.; So Delicious Dairy Free; Blue Diamond Growers; Cashew Dream; Danone SA; and Alpro.

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Further key findings from the report suggest:

By type, plain cashew milk led the global market with a share of 72.7% in 2018
North America dominated the market in 2018 with a revenue of USD 12.9 million in 2018. This trend is projected to continue over the next few years
APAC is anticipated to witness high demand on account of increase in awareness and change in lifestyle
The cashew milk market is highly competitive in nature with the main players including White Wave Services Inc.; Forager Project; Provamel; Plenish Cleanse Ltd.; and Nutty life, LLC
Various manufacturers are concentrating on new product launches and capacity expansion in order to estimate existing and future demand patterns from upcoming product segments.

Monday 27 July 2020

Air Sports Equipment Market Size is Expected to Observe 6.7% CAGR till 2025

The global Air Sports Equipment Market size is expected to reach USD 23.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.7% over the forecast period. Increasing participation in the extreme sports by college graduates and working professionals is expected to be a key factor driving the market over the forecast period. Moreover, supportive policies by the governments of developed countries including U.S. and U.K. on promoting spending on outdoor recreational activities are expected to expand the scope for various equipment over the next few years.

Over the past few years, popularity of the extreme sports has grown significantly owing to increasing adoption among millennials, college grads, working professionals, and older adults in order to experience thrill in the outdoor activity. Moreover, social media, movies, and cinemas have played an important role in promoting these extreme sports across the globe. Participation of customers of different age groups in various outdoor recreational activities has increased significantly in the past few years.

According to the statistics provided by the United States Parachute Association (USPA), out of the total jumpers, 11.2% of them were retired by occupation. This implies older adults have been increasingly participating in the extreme sports. This significant increase in the participation among old adults is expected to drive the demand for air sports equipment in the foreseeable future.

Europe was the largest market, accounting for a share of more than 35.0% in 2018 owing to presence of favorable geographical conditions such as hills and mountains in the region. The market is expected to witness significant growth in the coming years owing to growing adventurous sports tourism. European countries including U.K., France, Italy, Switzerland, Spain, and Hungary are some of the prominent countries with the highest penetration of the air sports including ziplining, parachuting, paragliding, wingsuit flying, and canopy piloting.

Major manufacturers are Velocity Sports Equipment; Aerodyne Research, LLC; OZONE POWER LTD; SUP’AIR; Peregrine Manufacturing, Inc.; Sunrise Manufacturing International Inc.; Sun Path Products, Inc.; Mirage Systems, Inc.; Firebird USA LLC; and Flyneo.com. New product developments in terms of high-end protective apparel for addressing human biomechanics are expected to remain favorable for the air sports equipment industry growth.

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Further key findings from the report suggest:

By application, parachuting held the largest share of above 40.0% in 2018 due to increasing enthusiasm among millennials, college grads, and working professionals, coupled with availability of safer equipment and ease of access to the sport
Container/Harness was the largest product segment with a share of more than 60.0% in 2018 as it is used in pursuing various air sports activities including ziplining, parachuting, paragliding, wingsuit flying, and canopy piloting
Europe was the largest regional air sports equipment market, accounting for a share of more than 35.0% in 2018
Asia Pacific is expected to expand at a CAGR of 7.5% from 2019 to 2025
Key players include Velocity Sports Equipment; Aerodyne Research, LLC; OZONE POWER LTD; SUP’AIR; Peregrine Manufacturing, Inc.; Sunrise Manufacturing International Inc.; Sun Path Products, Inc.; Firebird USA LLC; and Flyneo.com.