Author: Mohitpatil

The global MICE market size was valued at USD 693.21 billion in 2022 and is projected to grow from USD 904.30 billion in 2023 to USD 1,605.17 billion by 2030, exhibiting a CAGR of 8.54% during the forecast period.

MICE refers to a group travel segment focused on planning, booking, and the organization of seminars, conferences, and events. The market growth is being driven by an upsurge in globalization which offers numerous opportunities for business expansion.

Fortune Business Insights™ provides this information in its research report, titled “MICE Market, 2023-2030”.

List of Key Players Mentioned in the Report:

• ITA Group (U.S.)
• Flight Centre Travel Group Limited (Australia)
• Freeman (U.S.)
• Meetings and Incentives Worldwide, Inc. (U.S.)
• Conference Care (U.K.)
• One10, LLC (U.S.)
• BCD Meetings & Events (U.S.)
• Creative Group, Inc. (U.S.)
• Access (U.S.)
• CWT Meetings & Events (U.S.)

Segmentation:

Meetings Segment Leads the Market Driven by Upsurge in Corporate Events

By event type, the market is subdivided into incentives, meetings, exhibitions, and conventions. The meetings segment holds a dominating market share. This can be attributed to a rise in the number of corporate events across the globe. Some of these events comprise management planning meetings, general meetings, annual business meetings, board meetings, supplier meetings, and others.

Based on geography, the market for MICE has been analyzed across North America, Asia Pacific, Europe, South America, and the Middle East & Africa.

Report Coverage:

The report provides an insight into the key trends in the global market. It further delves into the impact of COVID-19 pandemic on market expansion. The report gives an overview of the prominent factors driving the industry expansion over the coming years. The vital strategies deployed by market players for expanding the reach of their services have also been covered in the report.

Drivers and Restraints:

Expanding Travel and Tourism Sector to Drive Industry Expansion

The MICE market growth is being driven by an upsurge in business trips across the globe and the expanding travel and tourism sector. Additional factors favoring industry expansion included the ease in travel bookings, change in lifestyle, and a surge in infrastructure.

However, the industry growth may be restrained by the political instability across the globe. Such occurrences particularly affect countries dependent on the tourism sector for revenue generation.  

Regional Insights:

Europe Dominates the Market Driven by the Surge in Corporate Activities

Europe accounts for a leading MICE market share in the global market. This can be attributed to an escalation in corporate activities across numerous industries such as automobiles, pharmaceuticals, information technology, and others.

Asia Pacific is set to expand at the highest CAGR over the study period. This is due to an upsurge in government investments focused on infrastructure enhancement in the region. 

Over the past couple of years, the regions of South America and the Middle East registered an upsurge in tourist footfall. The Latin America market is set to rise owing to the upsurge in professional business event organizers in the region.

Competitive Landscape:

Industry Players Focus on Innovation to Gain Strong Footing

Major MICE industry players are deploying numerous strategies to gain strong footing in the market. Some of these steps constitute partnerships, innovation, and business expansion. Furthermore, to raise brand awareness, market players are adopting marketing and promotion strategies.

Key Industry Development:

• September 2023 – Freeman announced a collaboration with 42Chat. The deal focuses on the launch of conversational AI chatbots for supporting attendee engagement for conference and trade show organizers.

Reference Link:

https://www.fortunebusinessinsights.com/mice-market-108653

The global hand sanitizer market size hand sanitizer market size was valued at USD 2.85 billion in 2022 and is projected to grow from USD 3.01 billion in 2023 to USD 3.80 billion by 2030, exhibiting a CAGR of 3.8% during the forecast period.

Hand sanitizers refer to anti-infection skincare products that protect the hands from disease-causing bacteria and viruses. As more people are becoming aware of the benefits of maintaining a good personal hygiene routine, the demand for hand sanitizers is projected to grow across the world. This will positively impact the hand sanitizer market growth.

Fortune Business Insights™ displays this information in a report titled, “Hand Sanitizer Market, 2023-2030.”

LIST OF KEY COMPANIES PROFILED

• Reckitt Benckiser Group Plc (U.K.)
• Gojo Industry Inc. (U.S.)
• Henkel AG & Company (Germany)
• Himalaya Global Holdings Ltd. (India)
• Unilever Plc. (U.K.)
• Bacardi Limited (Bermuda)
• CVS Health (U.S.)
• Best Sanitizer Inc. (U.S.)
• Proctor & Gamble (U.S.)
• SC Johnson & Son, Inc. (U.S.)

Segments:

Gel Segment to Dominate due to based Wide Demand for Gel-based Sanitizing Solutions

Based on product form, the market is segmented into foam, gel, and liquid. The gel segment is expected to hold a considerable market share as gel-based sanitizers are more effective for germ protection than its counterparts.

Alcohol-based Sanitizers to Gain Traction due to their Robust Disease-Fighting Capabilities

Based on type, the market is segmented into alcohol-based and alcohol-free. The alcohol-based segment is predicted to dominate the market as these products are more effective in fighting off disease-causing bacteria and germs and can prevent infections.

Customers to Prefer Supermarkets/Hypermarkets for their Wider Product Choice and Heavy Discounts

Based on distribution channel, the market is segmented into pharmacy stores, supermarkets/hypermarkets, online retail channels, and others such as department stores, drug stores, and grocery stores. The hypermarket & supermarket segment holds a dominant position in the global market as these stores house a wider range of hand sanitizing solutions from different brands and offer heavy discounts on bulk purchases.

Hand Sanitizing Products to Gain Popularity Across Hospitals Due to Rising Patient Admissions

Based on end-user, the market is segmented into schools, restaurants, hospitals, household purpose, and others such as shopping plazas, the military, the corporate sector, and hotels.

The hospital segment dominates the market as the average patient footfall across hospitals is rising every year, which may boost the demand for hand sanitizing solutions.

With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report analyzes the market in detail and highlights crucial areas such as prominent companies, product types, forms, leading end-users, and distribution channels. The report also delivers insights into the latest market trends and covers top industry developments. Besides the factors mentioned above, the report informs readers on the industry’s competitive landscape and the factors that have contributed to the market’s growth in recent years.

Drivers and Restraints:

Rising Government Support to Promote Hygiene Products will Augment Market Progress

Governments across the world are launching various initiatives and programs to promote the significance of personal hygiene and cleanliness, thereby generating robust demand for personal care items. Moreover, doctors and healthcare professionals are increasingly recommending various tips to maintain a good hygiene routine, which will further propel the market growth.

However, rising availability of alternative products may hinder the market’s development.

Regional Insights:

North America to Lead Market Growth with Growing Presence of Reputed Product Manufacturers

North America is set to dominate the global market as the region has a vast presence of leading product manufacturers such as Nice Pak, Gojo Industries Inc., Vi Jon Inc., Edgewell Personal Care, and many others.

Europe is also anticipated to hold a sizeable market share due to the governments’ support to create a strong medical infrastructure.

Competitive Landscape:

Effective Distribution Channels and Product Innovations by Leading Companies to Accelerate Market Growth

Some of the key companies operating in the market are focusing on innovating their disinfectant solutions to attract more customers. They are also trying to create and expand a strong product distribution network to seal their market positions and increase their global presence.

Key Industry Development:

November 2022: Reckitt Benckiser Group Plc. partnered with Essity AB to introduce a wide range of personal care products, such as antimicrobial foam soaps, multipurpose cleanser sprays, and hand sanitizing gels in Ireland, the U.K., Austria, and Germany.

Reference Link:

https://www.fortunebusinessinsights.com/hand-sanitizer-market-102710

The global baby apparel market size was valued at USD 62.36 billion in 2022 and is projected to grow from USD 64.64 billion in 2023 to USD 95.22 billion by 2030, exhibiting a CAGR of 5.69% during the forecast period.

The children’s wear industry has been significantly influenced by the growing impact of social media and evolving fashion trends. An example of this is the introduction of Gerber Modern Moments baby apparel by Gerber Childrenswear LLC in March 2020. This clothing line, made from organic cotton, was developed in response to the rising demand for environment-friendly garments. Fortune Business Insights presents this information in their report titled “Global Baby Apparel Market, 2023–2030.”

List of Key Players Profiled in the Report:

• Carter’s, Inc. (U.S.)
• Hennes & Mauritz AB (Sweden)
• Gerber Childrenswear LLC (U.S.)
• Cotton On Group (Australia)
• The Children’s Place, Inc. (U.S.)
• Industria de Diseño Textil, S.A (Inditex) (Spain)
• Nike, Inc. (U.S.)
• Mothercare plc (U.K.)
• Gianni Versace S.r.l. (Italy)
• Burberry (U.K.)

Segments:

Bodysuits Garner Substantial Market Share due to the Convenience Offered

Based on type, the market is divided into bottom wear, top wear, and others. Top wear is further segmented into bodysuits, tops/shirts, and others. Bodysuits segment is anticipated to capture a substantial market share for offering parents a convenient solution for diaper coverage and effortless access to diaper changes.

Preference for Cotton Clothes leads to Segmental Growth

Based on material, the market is divided into cotton, wool, and others. The dominance of the cotton segment is attributed to its inherent softness, which is highly favored for children’s wear.                                      

Increasing Newborn Boys to Lead to the Boys Segment Dominance
Based on end-user, the market is bifurcated into boys and girls.
Due to higher number of male newborns compared to female newborns globally, the boys segment is anticipated to lead the market.

Geographically, the market is studied across North America, South America, Europe, Asia Pacific, and the Middle East and Africa.

Report Coverage:

The report offers: 

• Major growth drivers, restraining factors, opportunities, and potential challenges for the market. 
• Comprehensive insights into regional developments. 
• List of major industry players. 
• Key strategies adopted by the market players. 
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints:

Positive Impact of Assisted Reproductive Techniques to Drive Market Growth

Assisted reproductive techniques, such as in-vitro fertilization and surrogacy, have played a crucial role in addressing parental infertility concerns, resulting in an increase in the number of newborns. This, in turn, has increased the baby apparel market share. Furthermore, infants up to the age of 24 months tend to outgrow their clothing sizes quickly, leading to frequent purchases of new clothes.

On the contrary, renting, leasing, and re-commerce practices may impede the baby apparel market growth.

Regional Insights

Asia Pacific Leads the Market due to Presence of High Population

Asia Pacific holds 38.64% of the global revenue in the baby apparel industry. China is anticipated to lead the market due to cancellation of the single child policy.           

The growth of the market in Europe is fueled by rising demand for full-body nightwear and winter wear, attributed to the cold climatic conditions experienced during the winter season.

Competitive Landscape

Market Leaders Focus on Acquisitions and Mergers to Exceed Reach

To solidify their position in the market, major players are implementing strategies such as acquisitions and mergers and enhancing the supply chains. An example of this is the Children’s Place, which acquired the assets of Gymboree and Crazy 8 in April 2019, thereby broadening their range of kidswear products and expanding their product portfolio.

Key Industry Development: 

• November 2022: Bed Bath & Beyond Inc., North America’s baby and toddler specialty retailer, launched its buybuy BABY banner. The launch offers customers a large collection of baby and toddler essentials.

Reference Link:

https://www.fortunebusinessinsights.com/baby-apparel-market-102106

The global toaster market size was USD 3.76 billion in 2022 and is projected to grow from USD 3.90 billion in 2023 to USD 5.71 billion by 2030, exhibiting a CAGR of 5.61% during the forecast period.

Toasters are a kitchen essential, serving as an everyday solution for crisping up bread slices for breakfast. The market is expected to rise due to the growing demand for luxurious kitchen appliances such as mixer grinders, toasters & ovens, and refrigerators. 

Fortune Business Insights™ provides this information in its research report, titled “Toaster Market, 2023-2030”.

List of Key Players Mentioned in the Report:

• Panasonic Corporation (Japan)
• LG Electronics (South Korea)
• Samsung Electronics Co. Ltd. (South Korea)
• Gorenje (Slovenia)
• Haier Group Corporation (China)
• De’Longhi S.p.A. (Italy)
• Severin Elektrogerate GmbH (Germany)
• BSH Hausgeräte GmbH (Germany)
• HAEGER (U.S.)
• Walton Hi-Tech Industries Ltd. (India)

Segmentation:

Product Segment to Lead Driven by Soaring Demand for Multi-Slot Toasters

On the basis of product, the market is divided into oven, conveyor, and pop-up. The conveyor toaster segment is expected to lead the market due to the substantial demand for multi-slot toasters in settings such as cafes and quick-service restaurants.

Commercial Segment to Dominate due to Improving Living Standards of the Global Population

In terms of application, the market is fragmented into commercial and residential. The commercial segment is expected to dominate due to the busy lifestyles and improving living standards of the global population.

Online Segment to Maintain its Leadership owing to Shifting Consumer Preference Toward Online Shopping

Based on the distribution channel, the market is divided into offline and online. The online segment is poised to dominate with the largest market share, as a significant number of consumers prefer the convenience of shopping for home appliances through digital platforms.

On the basis of geography, the market has been studied across Asia Pacific, Europe, South America, the Middle East & Africa, and North America.

Report Coverage:

The report provides a detailed analysis of the leading factors favoring the industry growth over the coming years. The report offers insights into the latest market trends and highlights key industry developments. Other aspects of the report include the impact of COVID-19 pandemic on the growth of the market.

Drivers and Restraints:

Rising Number of Commercial Infrastructural Settings to Impel Industry Growth

Rising number of commercial infrastructural settings such as hotels, schools, cafes, and restaurants has driven the demand for the toasters. For instance, the Dubai government’s initiatives in 2021, facilitated the establishment of over 1000 commercial and industrial activities. The demand for these products in these settings contributes to the overall growth of the market. Other factors such as supportive government policies and social media influence have propelled the toaster market growth to a great extent.

However, the availability of substitute products such as cooking pans could hinder the industry expansion to some extent.

Regional Insights:

Asia Pacific to Emerge as Key Region Owing to High Consumption of Premium Kitchenware Products

The Asia Pacific is likely to hold a prominent toaster market share. This is driven by the high consumption of premium kitchenware products in countries such as India and China.

The North American market is expected to grow at a strong growth rate over the analysis period due to the rising disposable income of consumers.

Competitive Landscape:

Companies Focus on Strategic Investments to Boost Electronic Appliance Sales

Companies are relentlessly innovating in the kitchen appliance sector to boost revenue. Robust online marketing efforts target electronic appliance sales through digital channels. Simultaneously, a commitment to energy-efficient home appliances enhances market competitiveness.

Key Industry Development:

• December 2022 – Chinese home appliance company, Haier Group Corporation, joined hands with Waterline Ltd., to distribute its series of home appliances globally.

Reference Link:

https://www.fortunebusinessinsights.com/toaster-market-103851

The global costume jewelry market size was valued at USD 32.83 billion in 2022. The market is anticipated to expand from USD 34.81 billion in 2023 to USD 56.35 billion by 2030, exhibiting a CAGR of 7.12% during the forecast period.

Costume jewelry, often called fashion, artificial, or imitation jewelry, is created from cost-effective and mass-produced materials. The surge in demand for contemporary jewelry is a key driver fueling the costume jewelry market growth. In addition, the surging demand for contemporary designs contributes significantly to the costume jewelry market.

Fortune Business Insights™ provides this information in its research report, titled “Costume Jewelry Market, 2023-2030”.

List of Key Players Mentioned in the Report:

• Azone (China)
• TTT Jewelry (China)
• Teemtry Ltd (China)
• Kanhai Jewels (India)
• DWS Jewellery Pvt. Ltd. (India)
• Swarovski (Austria)
• YIBI Jewelry Co., Ltd. (China)
• Blingy Jewellery Pty Ltd (Australia)
• Viange Vintage (India)
• JewelryBund.com (China)

Segmentation:

Necklaces and Chains Segment Dominates Due to Their Popularity

Based on type, the global market is segmented into necklaces, rings, bracelets, earrings, and others. The necklaces & chains segment leads the market. Necklaces & chains are favored choices for gifts during various occasions such as birthdays, weddings, anniversaries, and holidays. The tradition of gifting such items contributes significantly to the sustained demand for necklaces and chains.

Women Segment to Lead Market Owing to Wide Availability of Designs in Jewelry

By end users, the global market is divided into men and women. The women’s segment is poised to dominate the market over the study period. The dominance of the women’s segment is fueled by the extensive availability of innovative and contemporary jewelry designs, meeting women’s preferences for elegant and stylish accessories. 

Offline Segment Dominated the Market Owing to Direct Engagement with In-store Staff

On the basis of distribution channel, the market is divided into online and offline. The offline segment captured the key share in the market. The personalized shopping experience and direct engagement with in-store staff, who provide recommendations and expert guidance based on individual preferences.

In terms of region, the market for costume jewelry is categorized into Europe, North America, the Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

Providing a comprehensive outlook, the report analyzes key factors fueling industry growth, with a spotlight on product types and prominent companies. Additionally, it delves into major trends influencing the global business environment and addresses the impact of the COVID-19 pandemic on market growth.

Drivers and Restraints:

Rising Number of Fashion-Conscious Consumer Base to Spur Market Growth

The growing population of fashion-conscious consumers is a significant factor supporting the growth of the market. As individuals increasingly prioritize staying on-trend and accessorizing their outfits, there is a corresponding surge in demand for these products. This trend is particularly is more pronounced among younger consumers, including the influential Gen Z demographic, who actively seek out fashionable accessories to complement their personal style.

However, the fierce competition from fine and demi-fine jewelry companies is a significant factor restraining the growth of the market.

Regional Insights:

North America to Dominate the Market Owing to Influence of Celebrities and Pop Culture

North America is poised to capture the largest costume jewelry market share during the study period. The rising popularity of specific jewelry styles and designs influenced by celebrities, fashion influencers, and pop culture is a significant driver of market growth in North America.

Growing consumer disposable incomes in Japan, South Korea, India, and China, are fuelling significant growth in the Asia Pacific region.

Competitive Landscape:

Key Manufacturers Focus on R&D Activities to Gain a Competitive Edge

Manufacturers are actively engaged in research and development, creating new products from recycled materials to address the increasing consumer demand for sustainable options. Additionally, they consistently introduce innovative designs to differentiate their products and maintain a competitive edge in the market.

Key Industry Development:

• April 2023: San Francisco-based leather bag brand Gusto introduced its inaugural jewelry collection, Gia. The collection included rings, pendants, necklaces, and earrings, crafted from brass metal with a gold polish.

Reference Link:

https://www.fortunebusinessinsights.com/costume-jewelry-market-108843

The global luxury goods market size was valued at USD 272.74 billion in 2022 and is anticipated to grow from USD 284.00 billion in 2023 to USD 392.40 billion by 2030, exhibiting a CAGR of 4.7% during the forecast period.

Luxury products signify the status symbol of an individual. Businesses focus on high-income populations with visually appealing designs and technology-integrated products. For instance, NFC-installed chips in jewelry; a product called Verselux was created by Cathy Hackl in March 2023. Fortune Business Insights presents this information in its report titled “Global Luxury Goods Market, 2023–2030.”

List of Key Players Profiled in the Report:

• LVHM (France)
• Compagnie Financière Richemont SA (Switzerland)
• Kering SA (France)
• Chow Tai Fook Jewellery Group Limited (Hong Kong)
• The Estée Lauder Companies Inc. (U.S.)
• Luxottica Group SpA (Italy)
• The Swatch Group Ltd. (Switzerland)
• L’Oréal Group (France)
• Ralph Lauren Corporation (U.S.)
• Shiseido Company, Limited (Japan)

Segments:

Fast Fashion Trend Increases Demand for Clothing Segment

By product type, the market is categorized into watches & jewelry, perfumes & cosmetics, clothing, bags/purses, and others. Fast fashion trends and demands from both men and women led the clothing segment to hold a significant market share.

Inclination Toward Grooming by Women to Increase Demand for Luxury Items

By end-user, the market is divided into men and women. The women segment dominates the market due to availability of numerous luxury products such as bracelets, cosmetics, earrings, fragrances, and handbags.                                      

Online Channel to Hold Largest Share due to Greater Convenience in Purchasing

Based on distribution channel, the market is bifurcated into offline and online. Due to the presence of stores and shops, customers can touch and feel the product, which allows the offline segment to hold a significant market share. 

Geographically, the market is studied across North America, South America, Europe, Asia Pacific, and the Middle East and Africa.

Report Coverage:

The report offers: 

• Major growth drivers, restraining factors, opportunities, and potential challenges for the market. 
• Comprehensive insights into regional developments. 
• List of major industry players. 
• Key strategies adopted by the market players. 
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints:

Increasing High-net Worth Population to Spur Demand

An increasing population with high-net worth drives the market for luxury goods. Businesses selling luxury goods concentrate on Gen-Z and millennial audiences by offering customized products. Around 2,153 billionaires have more wealth than 60% of the global population, which is 4.6 billion, according to the data published in January 2020 by Oxfam International.

On the contrary, purchasing or renting second-hand luxury products hinders the luxury goods market growth.

Regional Insights

Increasing Disposable Income of Individuals in Asia Pacific to Augur Market Growth

Asia Pacific holds the largest luxury goods market share due to its growing population and people’s high disposable income. The availability of luxury items is another factor contributing to the region’s market growth.           

Due to the presence of large players in the region, the luxury items market in Europe holds substantial share.

Competitive Landscape

Key Players Focus on Acquisitions to Sustain Position

Major companies in the market maintain robust product portfolios to maintain their position in the market. Partnerships, acquisitions, and new product developments are prioritized by luxury item companies to maintain dominance.

Key Industry Development: 

• November 2022: Estee Lauder Companies, Inc., a global cosmetics maker, acquired Tom Ford, a luxury footwear, handbags, and accessories brand, to expand its business in the Chinese luxury beauty products industry.

Reference Link:

https://www.fortunebusinessinsights.com/luxury-goods-market-103866

The global deodorant market size was valued at USD 24.36 billion in 2022 and is projected to grow from USD 25.16 billion in 2023 to USD 37.44 billion by 2030, exhibiting a CAGR of 5.57% during the forecast period.

Fortune Business Insights™ cites this information in its research report, titled “Deodorant Market, 2023-2030”.

List of Key Players Mentioned in the Report:

• Unilever PLC (U.K.)
• Procter & Gamble (U.S.)
• Beiersdorf AG (Germany)
• Henkel AG & Co KGaA (Germany)
• L’Oreal S.A. (France)
• Sky Organics (U.S.)
• Speick Natural Cosmetics (Germany)
• Truly’s Natural Products (U.S.)
• Erbaviva (U.S.)
• Spirit Nest (U.S.)
• EO Products (U.S.)
• Elsa’s Skincare (U.S.)

Segments:

Spray Segment Held a Leading Position Impelled by Surging Demand from Consumers

Based on product type, the market is fragmented into stick, roll-on, spray, and others. Of these, the spray segment dominated the market and is anticipated to register substantial expansion over the forecast period. The rise is on account of the surging demand from consumers for an array of products.

Plastic Segment to Depict Substantial Growth Propelled by Lower Cost

On the basis of packaging material, the market for deodorants is trifurcated into plastic, metal, and others. The plastic segment is slated to record considerable growth throughout the projected period. The surge is driven by the durability and lower cost of plastic containers.

Men Segment to Register Appreciable Surge Owing to Rising Sports Participation

By end-user, the market is bifurcated into men and women. The men segment is anticipated to register appreciable expansion over the study period. The growth is impelled by the increasing participation of men in sports activities such as cricket, football, basketball, and others.

Based on geography, the market for deodorants has been studied across Europe, North America, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report gives a comprehensive analysis of the key trends impelling industry expansion across various regions. It further delves into the vital aspects augmenting the global market share over the projected period. These insights have been furnished after extensive research from credible sources.

Drivers and Restraints:

Market Value to Rise Driven by Growing Consciousness Associated with Personal Grooming

The deodorant market growth is being impelled by the soaring consciousness with regards to personal grooming. Additional factor favoring industry expansion is an increase in the promotional campaigns of fragrance and cosmetic products through social media, print media, radio, and television.

However, the industry expansion may be hampered by the possibility of skin allergies.

Regional Insights:

Europe to Lead Propelled by Presence of Cosmetic Giants

Europe is set to dominate the deodorant market share, exhibiting an appreciable CAGR over the forecast period. The rise is propelled by the presence of a large number of cosmetic giants in the region. Some of these include Unilever, Avon, Beiersdorf, L’Oreal, and others.

The North America market is anticipated to register significant CAGR throughout the study period. The growth is driven by the increasing awareness associated with the maintenance of personal hygiene and health.

Competitive Landscape:

Major Companies Ink Partnership Deals to Strengthen Industry Foothold

Leading industry participants are centered on adopting an array of strategic steps for strengthening the positions of their businesses. These comprise acquisitions, merger agreements, and the rollout of new solutions. Some of the other initiatives include an escalation in R&D activities.

Key Industry Development:

• June 2022 – Good Avenue collaborated with Nuud and its innovative odor control solutions. The rollout helped in enhancing the depth of personal care products.

Reference Link:

https://www.fortunebusinessinsights.com/deodorant-market-102687

The global feminine hygiene products market size was valued at USD 39.66 Bn in 2022 and is projected to reach from USD 41.29 Bn in 2023 to USD 62.66 Bn by 2030, exhibiting a CAGR of 6.1% during the forecast period.

The sales of feminine hygiene products have grown tremendously in recent years as more women are gaining awareness on the importance of maintaining proper menstrual hygiene. Women residing in rural areas neither have access to proper menstrual hygiene products nor receive adequate education on the importance of the same. Such lack of awareness can have some serious consequences such as temporary infection in the genital areas and infertility. Such factors are expected to positively affect the feminine hygiene products market growth.

Fortune Business Insights™ displays this information in a report titled, “Feminine Hygiene Products Market, 2023-2030.”

LIST OF KEY COMPANIES PROFILED IN THE REPORT

• Procter & Gamble Company (U.S.)
• Unicharm Corporation (Japan)
• Essity AB (Sweden)
• Kimberly-Clark Corporation (U.S.)
• Ontex Group NV (Belgium)
• Edgewell Personal Care (U.S.)
• Maxim Hygiene (U.S.)
• Hengan International Group (China)
• TZMO SA (Poland)
• Unilever Plc. (U.K.)

Segments:

Menstrual Care Products are Highly Used by Women to Effectively Manage Menstrual Cycle

Based on product type, the market is segmented into menstrual care products and cleaning & deodorizing products. The menstrual care products segment accounted for the largest feminine hygiene products market share as women use these products every month during their menstrual cycle.

Heavy Discounts and Bulk Purchases to Boost Customer Footfall at Hypermarkets/Supermarkets

In terms of distribution channel, the market is segmented into hypermarket/supermarket, convenience stores, drug stores, and others. The hypermarkets/supermarket segment holds a dominant position in the market as women buy their hygiene products in bulk at these stores since these shops offer heavy discounts on such products.

With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The research report offers an in-depth analysis of the industry and highlights prominent areas, such as distribution channels, competitive landscape, and key product types. The report also offers insights into the latest market trends and highlights key developments in the industry.

Drivers and Restraints:

Growing Menstrual Literacy Rate to Boost Market Growth

Feminine hygiene products play a vital role in helping women manage their period flow effectively. Nowadays, more women in the rural areas are receiving education on the importance of using products, such as menstrual cups, tampons, and sanitary pads, thereby boosting the menstrual literacy rate. Since there has been a commendable rise in the number of working women, the demand for these products has grown, thereby boosting the market growth.

However, low access of menstrual hygiene products in underdeveloped areas may hinder the market development.

Regional Insights:

Asia Pacific Market to Grow Considerably with Better Awareness About Menstrual Hygiene

Asia Pacific is expected to dominate the global market as the region is witnessing a notable rise in hygiene awareness in countries such as India and China.

North America and Europe markets have shown tremendous growth due to factors such as higher income level of women, better sanitation practice, and greater awareness about menstrual hygiene.

Competitive Landscape:

Key Market Players to Develop Innovative Products to Cement their Market Positions

Companies, such as Unilever, Procter & Gamble, Kimberley Clark, and many local and startup companies, are leading the market growth as these players are developing easy-to-use and safer feminine hygiene products. These products are being made with softer materials to minimize the risk of rashes and allergies, which will help them consolidate their market positions.

Key Industry Development:

• June 2021: Callaly, a British manufacturer of menstrual management products, partnered with Sustainable Materials Innovation Hub (SMI Hub) to produce sustainable materials for menstrual hygiene products.

Reference Link:

https://www.fortunebusinessinsights.com/feminine-hygiene-products-market-103530

The global luxury furniture market size was valued at USD 21.67 billion in 2022 and is projected to grow from USD 22.78 billion in 2023 to USD 33.31 billion by 2030, exhibiting a CAGR of 5.57% during the forecast period.

The industry outlook is being positively influenced by growing consumer spending and various other factors such as household debt levels, per-capita income, and consumer expectations. Other aspects, such as ever-increasing disposable income, improvement in living standards, growing demand for furniture, and robust popularity of home renovation and decoration projects, will also fuel the market growth.

Fortune Business Insights™ presents this information in a report titled, “Global Luxury Furniture Market, 2023-2030

LIST OF PROMINENT COMPANIES PROFILED IN THE REPORT

• SCAVOLINI S.P.A. (Italy)
• Cassina S.p.A (Italy)
• Kimball International, Inc. (U.S.)
• Brown Jordan International (U.S.)
• Herman Miller, Inc. (Knoll Inc) (U.S.)
• Vivono (India)
• Boca do Lobo (U.K.)
• DURESTA (U.K.)
• Haworth, Inc. (Italy)
• MUEBLES PICO SA (Spain)

Segments

Aesthetic Design and High Durability Offered by Wooden Furniture to Support Market Expansion

Based on raw material, the market is divided into wood, metal, plastic, and others. The wood segment is expected to hold a dominant market share, owing to its adaptability and high-quality finishing. Wood is the most popular material due to its high aesthetic value and durability. These features will boost the sales of luxurious wooden furniture.

Rise in Home Décor Projects to Fuel Market Growth

Based on end-user, the market is divided into residential and commercial. The residential segment is predicted to hold a significant market share owing to the large-scale manufacturing of home décor and furnishing products.

Growing Demand for Personalized Shopping Experience to Boost Sales of Offline Distribution Channels

In terms of distribution channel, the market is divided into online and offline. The offline segment is predicted to capture a sizeable industry share as it offers customers a personalized experience and allows them to check a product’s quality through physical inspection.

Report Coverage:

The research report analyzes the industry in detail and highlights several crucial aspects such as prominent companies, competitive landscape, raw materials, end users, and distribution channels. Apart from this, the report also offers insights into the industry trends and underlines many important developments in the market.

Drivers and Restraints:

Rapid Growth of Real Estate Sector to Contribute to the Luxury Furniture Industry Growth

The real estate sector has recently shown substantial expansion due to increased demand for office and residential spaces. The growing construction of residential and commercial buildings will drive the market progress.

The wide availability of counterfeit products might hinder the market development. Counterfeiting also involves placing the logo or trademark of a famous brand on a product, but the product is not manufactured or authorized by that brand.

Regional Insights:

In terms of region, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa (MEA). The Europe region is anticipated to capture a sizeable luxury furniture market share during the forecast period as many companies across the region are involved in in-depth research & development. They are also constantly upgrading technologies used in the production of luxury furniture, thereby spurring the product sales across the region.

The North America region is also predicted to hold a major market share as there is a notable presence of reputed luxury furniture manufacturers. Also, the construction of residential and commercial buildings will spur the adoption of luxurious furnishing products.

Competitive Landscape:

Acquisitions and Partnerships by Leading Companies to Boost Market Growth

Reputed organizations, such as Scavolini S.P.A., Cassina S.p.A., Kimball International, Inc., Brown Jordan International, and many others, are developing a wide range of growth strategies to fortify their presence in the global market. For example, in October 2022, Linly Designs acquired Marge Carson, a luxury furniture brand, which manufactures high-end residential furniture. The deal is expected to enhance operational efficiencies and product offerings.

Key Industry Development:

• May 2022: Natuzzi S.p.A. signed a partnership deal with a reputed listed furniture supplier to speed up the brand’s retail expansion in the APAC region. This move will help generate more revenue and increase customer base.

 Reference Link:

https://www.fortunebusinessinsights.com/luxury-furniture-market-107326

The global paper straw market size was valued at USD 1.45 billion in 2022 and is projected to grow from USD 1.51 million in 2023 to USD 2.23 million by 2030, exhibiting a CAGR of 5.75% during the forecast period of 2023-2030.

This information is provided by Fortune Business Insights™ in its research report, titled “Paper Straw Market, 2023-2030”.

List of Key Players Mentioned in the Report:

• Fueling Technology (China)
• Footprint (U.S.)
• Charta Global (U.S.)
• Canada Brown Eco Products Ltd (Canada)
• Huhtamaki Oyj (Finland)
• Hoffmaster Group Inc. (U.S.)
• Transcend Packaging (U.K.)
• Duni Group (BioPak) (Sweden)
• Nippon Paper Industries Co., Ltd. (Japan)
• Focus Technology Co., Ltd. (China)

Segments:

Virgin Paper Segment Share to Surge Owing to Growing Demand for High Quality Straws

On the basis of material, the market for paper straw is segmented into recycled paper and virgin paper. The virgin paper segment is expected to record appreciable growth over the forecast period. The expansion can be credited to the increase in technological advancements in the process of producing virgin fiber.

Printed Paper Segment to Register Commendable Growth Due to Customizability

Based on product, the market is fragmented into non-printed and printed. The printed segment is estimated to register a substantial surge throughout the projected period. The surge can be attributed to the increasing product adoption in foodservice outlets.

Foodservice Segment to Gain Traction Owing to Surging Product Demand

Based on application, the market is fragmented into household and foodservice. Of these, the foodservice segment is slated to depict commendable expansion over the study period. The escalation can be credited to increasing technological advancements in food delivery.

Based on geography, the market has been analyzed across North America, South America, Asia Pacific, Europe, and the Middle East & Africa.

Report Coverage:

The report gives an analysis of the prominent factors impelling business expansion over the forecast period. It further delves into the significant trends propelling the industry landscape throughout the projected period. Additional insights include the key steps taken by major market participants for strengthening their industry foothold.

Drivers and Restraints:

Market Share Affected Due to Ban on Single-use Plastic Products

The paper straw market growth can be attributed to increasing government regulations and policies to ban single-use plastic products. This is on account of increasing product demand and the growing number of applications in the foodservice sector.

However, the industry expansion is likely to be hampered owing to the negative impact on the manufacturing process and quality.

Regional Insights

North America to Emerge as Leading Region Owing to Strict Regulations on Single-use Plastics

The North America paper straw market share is expected to record considerable expansion over the forecast period. The surge can be attributed to the higher usage of drinking straws in the food service industry and strict regulations on single-use plastics.

The Europe market is slated to register notable growth throughout the study period. Some of the largest straw-consuming countries in the region include Italy, France, and Germany.

Competitive Landscape:

Leading Companies Develop New Products to Propel Business Expansion

Major paper straw companies are focused on the adoption of various strategic initiatives such as acquisitions, the formation of alliances, mergers, and others. Many companies are also entering into collaborations and partnership agreements for strengthening their position in the market. Additional initiatives include increase in research activities.

Key Industry Development:

• September 2021 – Nestle rolled out a sustainable paper straw for Milo drink. In collaboration with IPL team Royal Challengers Bangalore (RCB), the initiative is centered on promoting sustainability.

Reference Link:
https://www.fortunebusinessinsights.com/paper-straw-market-107149