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According to a recent report by Fortune Business Insights™, the global video games market was estimated at USD 188.73 billion in 2021 and is anticipated to expand to USD 307.19 billion by 2029, with a notable CAGR of 6.3% during the forecast period. This growth is attributed to the rising technological advancements in the industry. The comprehensive analysis can be found in the report titled "Video Games Market, 2023-2029."

Companies leading the video games market are Sony Group Corporation (Japan), Microsoft (U.S.), Nintendo (Japan), Tencent (China), Activision Blizzard (U.S.), Electronic arts (U.S.), Epic Games (U.S.), Take-two interactive (U.S.), Ubisoft (France), Bandai Namco Holdings Inc. (Japan), and more. 

Report Coverage-

The report provides an extensive overview of key drivers and challenges impacting market augmentation over the forecast timeframe. It studies the market thoroughly by fragmenting it into segments and regions. Growth rate and market share estimates of each segment and region are documented as well. Moreover, the report encompasses company profiles section that briefs readers about strategic moves made by leading players and enables them to make informed decisions.

Drivers & Restraints-

Increasing Integration of Advanced Technologies will Stimulate Industry Expansion

The growing integration of 3D, sound effects, high-definition graphics, Augmented Reality (AR), and Virtual Reality (VR) in games increases their appeal. Video games nowadays are very realistic due to their high-quality visual effects, sound effects, and detailing. A shift toward user centricity and personalization is further contributing to the global video games market growth.

On the other hand, rising concerns regarding growing aggression among teenagers due to the promotion of violence in games will act as a challenge for businesses operating in this domain.

What are the factors driving applications of the Video Games Market?

• Technological Advancements: The relentless pace of technological innovation is a major driver of video game applications. From high-definition graphics to virtual reality (VR) and augmented reality (AR), advancements have enabled developers to create more immersive and visually stunning games. These technologies are not just for entertainment; they also find applications in fields like training simulations and healthcare.
• Gaming Consoles and Platforms: The proliferation of gaming consoles and platforms, such as Xbox, PlayStation, and PC gaming, has expanded the reach of video games. These platforms provide a stable ecosystem for game developers to create and distribute their products, attracting a wide range of gamers.
• Mobile Gaming: The rise of smartphones has brought gaming to the fingertips of billions. Mobile gaming apps offer convenience and accessibility, making gaming a part of everyday life. This has opened up new avenues for game developers and increased the diversity of gaming applications.
• Esports and Competitive Gaming: Esports has emerged as a significant driver of the video games market. Competitive gaming tournaments and leagues have not only turned professional gaming into a career but have also boosted the development of games designed for esports. This trend is expected to continue as esports gains more mainstream recognition.
• Streaming and Content Creation: Platforms like Twitch and YouTube Gaming have allowed gamers to become content creators. The ability to livestream gameplay and create engaging content has turned gaming into a spectator sport, further expanding the reach and applications of video games.
• Educational and Training Games: Video games are increasingly being used as educational tools. Serious games, designed with learning objectives in mind, are utilized in schools, universities, and corporate training programs. These games offer an engaging and interactive way to acquire knowledge and skills.
• Health and Wellness: Gamification has entered the realm of healthcare and wellness. Gamified apps and devices encourage physical activity, manage chronic conditions, and aid in mental health therapy. Games are also used in physical rehabilitation and pain management.

Segments-

Increasing Penetration of Smartphones will Drive Market Growth

Based on device, the global market is split into smartphones, PC/laptop, and consoles. Among these, the smartphones segment held the largest video games market share. Increasing adoption of smartphones and easy access to 5G networks resulted in a rise in the number of gamers. Technological advancements in smartphones and availability of high speed internet have boosted mobile gaming, which will also aid market proliferation.

Technological Advancements and Tech Savvy Populace will Aid Market Proliferation

According to age group, the market is divided into generation X, generation Y, and generation Z. Generation Z is tech savvy as they grew up in an era of technological advancements, availability of high speed internet, and growing smart phone penetration.

Launch of Gaming Smartphones Will Propel the Market

As per platform type, the market is arrayed into online and offline. Among these, the online segment captured the largest share due to launch of new smartphones with advanced features, increasing digitization, and rapid internet penetration. The segment consists of various types of games such as first-Person Shooter Games (FPS), Multiplayer Online Battle Arena Games (MOBA), Real-Time Strategy Games (RTS), Battle Royale games, and others.

Geographically, the market is fragmented into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.

Regional Insights-

Asia Pacific to Dominate Stoked by Presence of Leading Players

Asia Pacific is a leading contributor to market growth owing to the presence of leading companies in the region and rising internet and smartphone penetration. The growing usage of smartphones urges developers to focus on developing multiplayer video games such as PUBG and COD to meet the demand of expanding consumer base, which, in turn, propels market expansion.

North America is projected to grow rapidly owing to expanding gaming community, easy access to internet, and availability of devices with advanced technology.

Competitive Landscape-

Product Launches to Promote Market Augmentation

Leading companies often make strategic decisions such as partnerships, mergers & acquisitions, collaborations, and investments in research & developments to maximize profits. One such decision is to launch new products with advanced features to meet growing consumer requirements.

Key Industry Development-

• July 2022: Asus launched the new ROG Phone 6 Pro and ROG Phone 6 and expanded its gaming smartphone line. The phones have IPX4 rating, latest Snapdragon 8+ Gen 1 system-on-chip, 512 GB storage, and up to 18GB RAM.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/video-game-market-102548

According to Fortune Business Insights™, the cotton towel marketsize was valued at USD 3.86 billion in 2021 and is projected to reach a valuation of USD 4.05 billion in 2022. The market is expected to reach USD 5.98 billion by 2029 with a CAGR of 5.72% during the forecast period. The increasing necessity for towels from various end-users such as hotels, fitness clubs, and hospitals is anticipated to drive market growth. The current spike in the textile industry has made consumers more aware of their home’s appearance, which is expected to propel the market course. The shift towards luxury products is projected to assist in market development. Fortune Business Insights™ shares this information in its report titled “Cotton Towel Market, 2022-2029.”

COVID-19 Impact:

Halt on Tourism Activities Affected Market Growth

Due to the COVID-19 pandemic, shops were forced to close shops due to various restrictions and lockdowns, which led to a loss in the market. The halt in tourism activities led to a decline in market growth.

Fortune Business Insights™ lists out all the cotton towel market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

• Utopia Deals (U.S.)
• Grund America (S.)
• Dunroven House (S.)
• Orahome (S)
• Iris Hantverk (Sweden)
• The DMC Corporation (France)
• MATTEO (U.S.)
• ELSATEX Ltd. (K.)
• Red Land Cotton (S.)
• Danica Studio (Canada)

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Increasing Demand from Hospitality Sector to Improve Market Growth

One of the major reasons for the increase in the demand for such towels is increasing demand from the hospitality sector, which is anticipated to drive cotton towel market growth. There has been a rise in the instance and penetration of e-commerce channels. According to the U.S. Census Bureau News, e-commerce sales in the U.S. touched USD 870 billion in 2021, its marks an increase of 14.2% over 2020 and an increase of 50.5% over 2019.

However, high fluctuations in the costs of the raw materials is expected to hamper the market growth.

Segmentation

Egyptian to Dictate Due to its Various Benefits

On the basis of type, the market is segmented into Pima, Egyptian, Turkish, and blended. Egyptian accounts for the largest part due to as they are heavy-duty, plush, and ultra-soft due to high absorbent action. It accounted for 43.32% in 2021 due to high adoption of amongst consumers.

Household to Govern Due to Increasing Demand for Cotton Towels

Based on application, the market is categorized into up to household and commercial. Household is anticipated to dominate the market during the coming years due to increasing demand for cotton towels. Cotton is one of the most used fabrics and is also a versatile one making it an ideal choice for the household.

Offline Channel to Lead Due to Wide Variety of Products

On the basis of distribution channel, the market is categorized into offline and online. Offline channel to hold the majority part as it provides a wide variety of specialized products and consumers have the freedom to validate the authenticity of the products.

Regional Insights

Asia Pacific Lead the Market Owing to Rising Preferences for Luxury Products

Asia Pacific is expected to have largest part in the cotton towel market share due to the rise in the demand for comfortable and soft towels. Rising preferences for luxury products and premium textile products is expected to boost market growth for the region. China is one of the dominant countries due to emergence of small-scale textile manufacturers at cheap rates which is also expected to contribute to market development.

North America is anticipated to have a considerable substantial growth in the forecast period due to high demand from countries such as U.S., Canada, and Mexico.

Europe has a moderate growth due to growing importance of bathing habits throughout the region.

Rеаѕоnѕ to Get thіѕ Rероrt:

• A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
• Data on market value for each section and sub-segment
• Indicates the region and market segment that is likely to expand the fastest and dominate the market.
• The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
• The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.

Competitive Landscape

Digital Marketing Strategies by Key Players to Advance Market Path

Digital campaigns by the market players are anticipated to advance market grip. In December 2020, Trident Group, an Indian home textile company launched its digital campaign for their towel portfolio expansion. In coming years, the demand for smart and technologically innovative products as they provide convenience and comfort to consumers. Digital campaigns are expected to offer various opportunities in the coming years.

Key Industry Development

October 2021- Welspun India Limited announced its partnership with DuPont Biomaterials for the launch of home textile product range. The product range includes bedsheets and bath towels which are made from bio-based materials.

Frequently Asked Questions (FAQs):

1. Is the Cotton Towel Industry growing?

Answer: Fortune Business Insights says that the worldwide market size was USD 3.86 billion in 2021 and is anticipated to reach USD 5.98 billion by 2029.

2. Who are the key players in the Cotton Towel Market?

Answer: Utopia Deals, Grund America, Dunroven House, Orahome, Iris Hantverk, DMC, MATTEO, ELSATEX Ltd., Red Land Cotton and Danica Studio are the leading players worldwide.

3. What are Key Factors Raising the Market?

Answer: Increasing Demand from Hospitality Sector to Improve Market Growth

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/cotton-towel-market-103847

The gaming market is fragmented by major companies that are focusing on maintaining their presence. They are doing so by proactively investing in R&D activities to develop engaging online video games. Additionally, other key players are adopting organic and inorganic strategies to maintain a stronghold that will contribute to the growth of the market during the forecast period. The global gaming market size is expected to gain momentum by reaching USD 545.98 billion by 2028 while exhibiting a CAGR of 13.20% between 2021 and 2028. In its report titled "Gaming Market Size, Share & COVID-19 Impact Analysis, By Game Type (Shooter, Action, Sports, Role-Playing, and Others), By Device Type (PC/MMO, Tablet, Mobile Phone, and TV/Console), By End-User (Male and Female), and Regional Forecast, 2021-2028", Fortune Business Insights mentions that the market stood at USD 203.12 billion in 2020.

Online video games have become more prevalent in recent years. Most people find online games attractive and a modest way to find free time from their hectic schedules. Moreover, during the pandemic, the inclination toward gaming increased dramatically.  Many companies such as Nintendo and Tencent witnessed an increase in their sales during the first quarter. The former showcased a profit of 41%, as it sold many of its games digitally. The demand for online games will be persistent in upcoming years, and this market is anticipated to boom during the forecast period.

List of the Companies Profiled in the Global Gaming Market:

• Microsoft Corporation (Redmond, Washington, United States)
• Nintendo Co., Ltd (Kyoto, Japan)
• Rovio Entertainment Corporation (Espoo, Finland)
• Nvidia Corporation (California, United States)
• Valve Corporation (Washington, United States)
• PlayJam Ltd (London, United Kingdom)
• Electronic Arts Inc (California, United States)
• Sony Group Corporation (Tokyo, Japan)
• Bandai Namco Holdings Inc (Tokyo, Japan)
• Activision Blizzard, Inc (California, United States)

What does the Report Provide?

The market report for gaming provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaborate that will further contribute to the market growth.
Moreover, the research analyst has adopted several research methodologies such as PORTER's Five Point Analysis and PESTEL to obtain information about the current trends and industry developments that will drive the market growth in the forthcoming years.

Driving Factor:

Rising Youth Employment to Spur Demand for Video Games

The rising millennial youth population is expected to drive the gaming market growth. For instance, a report from the American Association of Advertising Agencies.Org, published in February 2019, mentioned that the generation z population plays games daily. Their number is higher than that of millennials by 84%.  Moreover, rising disposable income is resulting in a higher consumption rate of video games. For instance, the data released by the World Bank.Org, states that the global youth unemployment in 2018 is 15.19% which is a decline from 15.37 % from its prior year.

Market Segmentation:

Based on game type, the market is divided into shooter, action, sports, role-playing, and others.

Based on game type, the shooter segment held a gaming market share of about 23.35% in 2020. The segment is expected to experience considerable growth since it provides 3D realistic graphics. It makes players experience a whole new experience of the virtual world. This fascinating atmosphere provided by battle games is driving the segment market.  

By device, it is segmented into PC/MMO, tablet, mobile phone, TV/console. On the basis of end-user, it is bifurcated into male and female. Finally, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa based on region.

Regional Insights

Asia Pacific to Remain at Forefront Backed by Rising Urban Population

Asia Pacific – The region is expected to hold the highest position in the market during the forecast period. This is ascribable to the rapid growth in the urban population. The rising awareness about trending video games is helping the market to thrive in the region.  The report from World Bank.Org data suggests that in 2019 the urban population of the East Asia Pacific was 59.887 % which rose from 59.053 % from the previous year. The regional market stood at USD 86.96 billion in 2020.

North America – The rising number of children with their smart devices is surging the market. For instance, the data released by the National Public Radio.Org in October 2019 stated that more than half of the children in America possess their smartphones.

Key Industry Development

November 2020: Microsoft launched the next-generation Xbox video game console. The cheaper counterpart Series S will also be launched with the flagship console.

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/gaming-market-105730

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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The global potato starch market size is projected to reach USD 672.68 million by 2027, exhibiting a CAGR of 3.9% during the forecast period. Development of clean-label starch products by food companies is expected to prove beneficial for this market, shares Fortune Business Insights™ in its report, titled “Potato Starch Market Size, Share & COVID-19 Impact Analysis, By Nature (Organic & Conventional) End-use (Textile & Paper, Food & Beverages, and Pharmaceuticals), Type (Native and Modified), and Regional Forecast, 2020-2027”. Clean-label food products are those that are free of any chemical modifications or alterations and are made from natural ingredients. Starch is a carbohydrate that is generally synthesized chemically, but consumers are now demanding clean-label, or naturally-derived, starches and other ingredients that are used in foods and drinks. As a result, many companies are now developing innovative starch concoctions made from organic sources. For instance, Tate & Lyle developed the CLARIA® Functional Clean-Label Starches, its new product line of non-Genetically Modified Organism (GMO) starch offerings, designed to meet several preparation requirements in the food industry.  Cargill, too, came up with its SimPure line of native starches developed specifically for convenience foods.

The COVID-19 pandemic has created unparalleled turmoil, uncertainty, anxiety, and apprehensions in the global economy. Governments are pulling all stops to wade their countries out of this crisis, while the private sector is exploring alternatives to survive these hard times. At Fortune Business Insights™, we are taking constant efforts to provide you with comprehensive market intelligence and aid your business to emerge successfully from this crisis. We are offering precise market reports based on our expertise and experience in the field of market research.

The report states that the global market value in 2019 stood at USD 500.07 million and provides the following information:

• Intelligent insights into the long-term and short-term impact of COVID-19 on this market;
• Actionable research into the market trends, drivers, and constraints;
• Detailed analysis of the key market segments; and
• Careful examination of the regional and competitive dynamics shaping the market growth.

Market Driver

Digestive Benefits of Potato Starch to Stoke Adoption

A leading factor fueling this market growth is the numerous benefits that resistant starch derived from potatoes has on the body’s digestive system. According to the National Institutes of Health (NIH), resistance starch helps in strengthening the colon by reducing inflammation in the area and potentially lowering the risk of colorectal cancer. In bolstering the colon’s functionality, this type of starch can prevent the development of chronic bowel disorders such as Crohn’s disease and ulcerative colitis. The NIH also highlights the advantages that resistant starch offers for metabolism. For instance, regular consumption of this starch type through meals can improve insulin sensitivity, which in turn can lower blood sugar levels and reduce the risk of diseases such as type 2 diabetes, heart disease, obesity, and even Alzheimer’s. Increasing awareness about the vast benefits of potato starch and other naturally derived ingredients is expected to augur well for the market in the coming years.

Regional Insights

High Demand for Plant-based Food Items to Support Market Growth in Europe

Europe is anticipated to have a commanding hold on the potato starch market share during the forecast period on account of high demand and consumption of plant-based, naturally made food items in the region. In addition to this, food & beverage companies in the region are increasingly developing health snacks by infusing them with potato starch, which is favoring the market growth in the continent.

The market size in North America stood at USD 178.75 million in 2019 and is expected to expand at a steady pace owing to surging demand for organic foods and drinks in the region. In Asia Pacific, rapid urbanization is boosting the demand for ready-to-eat organic foods, which is creating promising prospects for the players in this market.

Competitive Landscape

Key Players to Engage in Collaborative Efforts to Promote Plant-based Nutrition

With the widening ambit of plant-based foods and drinks, key players in this market are taking concrete steps to innovate and augment the potential of naturally-derived starches, including potato starch. To that end, many companies are joining large-scale initiatives to promote plant-based nutrition products. On the other hand, a few other companies are making tactical acquisitions to expand their global presence.

Industry Developments:

• December 2019: Roquette became part of the ‘Beyond Starch’ campaign launched by Starch Europe, the European association of starch industries. The purpose behind this campaign is to spread awareness about the use of starch in the food industry through a series of events organized by its 27 member companies.
• March 2019: Ingredion Incorporated announced the acquisition of the operations of Western Polymer, a US-based producer of native and modified potato starches for food and industrial applications. This move will allow Ingredion to strengthen its production, augment processing capacities, and broaden its portfolio of specialty ingredients.

Source:

https://www.fortunebusinessinsights.com/industry-reports/potato-starch-market-101789

The global skincare market size is expected to gain momentum by reaching USD 145.82 billion by 2028 from USD 100.13 billion in 2021 while exhibiting a CAGR of 5.52% between 2021 to 2028. In its report titled, “Skincare Market Size, Share & COVID-19 Impact Analysis, By Product (Creams, Lotions, Powders, Sprays, and Others), Packaging Type (Tube, Bottle, Jar, and Others), Gender (Men and Women), Distribution Channel (Cosmetic Stores, Supermarkets/ Hypermarkets, Online Channels, and Others), and Regional Forecasts, 2021 – 2028,” Fortune Business Insights™ mentions that the market stood at USD 98.83 billion in 2020.

In recent times, skincare has become one of the important rituals in everyone’s life. This is because these products improve the quality and health of the skin and provide nourishment. Men & women both use it daily for purposes such as cleansing, moisturizing, and hydrating. Additionally, awareness toward natural and herbal skin care is also generating traction.

For instance, ingredients such as aloe Vera, various root and leaf extracts have replaced chemicals in these personal care products since people are now aware of the adverse effects of synthetic chemicals on the skin. Therefore, major skincare companies are labeling their products to be natural. For example, key companies such as Avon and Garnier have launched their natural and herbal range as ‘Avon Naturals’ and ‘Garnier Organic’ to attract customers.

COVID-19 Impact

The pandemic crippled the global economy. The manufacturing facilities saw a decline in their production capacity due to lockdown and stringent regulations imposed by governments amid the pandemic to curb the spread of the virus. This is impacting the companies’ product revenues. Additionally, factors such as the closure of beauty retail stores and cosmetic businesses and the shortage of raw material supplies due to the lockdown restrictions hampered the product consumption rate.

However, the market is expected to revive during the forecast period, as there is a shift in the consumer behavior towards personal care, wellness and beauty increased while they were indoors, amid lockdown.

What does the Report Provide?

The market report for these products provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the market growth.

Driving Factors

Increasing Awareness Regarding Personal Grooming to Drive Market Growth

The rising trend of skin nourishment products by the young population to treat their skin problems such as acne, black spots, scars, dullness, and tanning is expected to drive skincare market growth. Products such as toners, scrubs, and sunscreen are highly in demand from the younger population, whereas products that treat wrinkles, cracked heels are demanded from the aged population. Moreover, incessantly changing lifestyle, increasing disposable income, and spending patterns of consumers on beauty care products is expected to boost the market in upcoming years.

Furthermore, the increasing demand for men’s grooming products, strong advertising initiatives by manufacturers, and the digitalization trend that have enhanced consumer awareness about personal care products are also promoting market growth. For instance, as per ‘Prima & Prep’s Men Grooming survey 2019’, around 89.5% of the men are concerned about skin issues, of which 35.8% of men use skincare and anti-aging products on a daily basis.

Regional Insights

Asia Pacific to Dominate Backed by Increasing Working Population

Asia Pacific is expected to remain at the forefront and hold the highest position market during the forecast period. This is attributable to the increasing employed population and rising disposable income in the region. For instance, a report by India Brand Equity Foundation on FMCG published in May 2018 states that in India, total consumption expenditure was USD 1,595 billion in 2016, which is projected to reach about USD 3,600 billion by 2020. The region’s market stood at USD 51.31 billion in 2020.

Europe is expected to showcase significant skincare market share in upcoming years, owing to the increasing demand for skin nourishment products by both male and female population. Additionally, the greater spending power of the populace in the region, coupled with the strong presence of key players operating in the market, is promoting the regional market.

Competitive Landscape

Key Players to Focus on New Launches & Acquisitions to Strengthen Their Presence

The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships, and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects.

Market Segmentation:

By product type, the market is divided into creams, lotions, powders, sprays, and others.  By packaging type, the market is segmented into tubes, bottles, jars, and others. On the basis of gender, the market is bifurcated into men and women. By distribution channel, the market is segmented into cosmetic stores, supermarkets/ hypermarkets, online channels, and others.

Based on type, the creams segment held a market share of 33.41% in 2020.  This is attributable to

Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

• December 2019: A subsidiary of Kao Corporation, e’quipe, LTD., launched its new brand named ‘athletia’ in February 2020. The brand offers skin nourishment products, such as ‘tune & charge,’ the ‘active & go’ and ‘breathe & sleep’ range.
• January 2020: Procter & Gamble acquired a women's body care company named Billie Inc. Through this acquisition, the company is expected to strengthen its product range as Billie is primarily involved in supplying female beauty as well as grooming products.

Source:

https://www.fortunebusinessinsights.com/skin-care-market-102544

The global meat substitutes marketis set to gain traction from the surging shift of people towards vegan diets, especially in North America and Western Europe. The Vegan Society, for instance, declared that if the world went vegan, it could reduce greenhouse gas emissions by two thirds, save around 8 million human lives, and save healthcare expenditure by 2050. This information is given by Fortune Business Insights™ in a report, titled, “Meat Substitutes Market Size, Share & COVID-19 Impact Analysis, By Source (Soy-based Ingredients, Wheat-based Ingredients, Textured Vegetable Proteins, and Other grain-based Ingredients), Distribution Channel (Mass Merchandisers, Specialty Stores, Online Retail, Other Retail Channels, and Foodservice), and Regional Forecasts, 2021 – 2028.” As per the report, the market size was USD 4.98 billion in 2020. It is projected to grow from USD 5.37 billion in 2021 to USD 10.80 billion by 2028, exhibiting a CAGR of 10.48% during the forecast period.

List of renowned providers of meat substitutes operating in the global market:

• Tyson Foods, Inc. (Arkansa, United States)
• Greggs plc (Newcastle upon Tyne, United Kingdom)
• Marlow Foods Ltd (Middlesbrough, United Kingdom)
• Conagra Brands, Inc. (Illinois, United States)
• Unilever NV (London, United Kingdom)
• Hilton Food Group plc (Cambridgeshire, United Kingdom)
• Kerry Group Plc (Tralee, Ireland)
• Savage River Inc. (California, United States)
• JUST, Inc. (California, United States)
• Impossible Foods Inc. (California, United States)

Unavailability of Fresh Meat amid COVID-19 Pandemic to Bolster Growth of Market

The COVID-19 pandemic has accelerated the demand for meat substitutes across the globe because of disruptions in supply chain, absence of employees in meat-processing plants, and unavailability of fresh meat. At the same time, several researches conducted amid the pandemic, such as one from the Food and Agriculture Organization, stated that multiple diseases are directly associated with animal-based food items.

Report Coverage-

The research report offers a comprehensive analysis of organizations that can affect the outlook throughout the forthcoming years. Besides, it provides an authentic assessment by highlighting information on several aspects that may include growth drivers, opportunities, trends, and hindrances. It also represents the size of the meat analogues industry from a global perspective by analyzing qualitative insights and historical data.

Drivers & Restraints-

Increasing Demand for Allergen-free Alternatives to Propel Growth

Plant-based meat made from peas and soy has high protein content. Hence, people are choosing them over chicken, beef, and pork. They also have a meat-like texture. Besides, the rising vegetarian populations and surging trend of health and fitness worldwide would propel the market in the upcoming years. People are nowadays looking for allergen-free alternatives, especially chickpeas because of rising health consciousness. Therefore, various companies are striving to come up with products infused with pea protein. However, meat substitutes are very expensive and it may hamper growth.

Regional Insights-

Presence of Flexitarian Consumers to Help Europe Grow in Future

Geographically, Europe procured USD 1.62 billion in terms of revenue in 2020. The surging ethical focus of consumers, high demand from millenials, and the presence of flexitarian consumers would drive growth in this region. Asia Pacific, on the other hand, is expected to be the fastest growing region on account of the high popularity of unique diet patterns and demand for soy-based meat analogues.

Competitive Landscape-

Key Players Focus on Introducing Novel Products to Meet Consumers’ Demand

The global market for meat substitutes houses a large number of companies that are currently striving to keep up with the high consumer demand. To do so, they are launching innovative products or are collaborating with government agencies for setting up R&D centers.

Segments-

Soy-based Ingredients Segment Held 63.65% Share in 2020: Fortune Business Insights™

Based on the source, the soy-based ingredients segment generated 63.65% in terms of the meat substitutes market share in 2020. It is expected to remain dominant in the near future because of the presence of essential amino acids and high-quality protein. Also, the emergence of soy protein isolates that have a close resemblance with the organoleptic properties of meat and animal products would propel the segment’s growth.

Below are the two significant industry developments:

• January 2020: Gardein launched its new Ultimate Plant-Based Burger that smells, cooks, and looks exactly like real beef, with non GMOs and soy ingredients. The company aims to cater to the needs of those following a vegan or vegetarian diet.
• February 2019: The Institute of Chemical Technology (ICT) Mumbai joined hands with The Good Food Institute India to create the world’s first research center backed by the government for developing clean meat. It will be located in Maharashtra.

Source:

https://www.fortunebusinessinsights.com/industry-reports/meat-substitutes-market-100239

According to Fortune Business Insights™, the global jewelry industryis expected to showcase considerable growth by reaching USD 266.53 billion while exhibiting a CAGR of 3.7% between 2020 and 2027. This is attributable to the increasing adoption of technology and the remarkable emergence of digital media platforms that propel the demand for luxury jewelry globally. Fortune Business Insights, published this information in its latest report, the report further mentions that the market stood at USD 330.0 billion in 2019 and is projected to gain momentum in the forthcoming years.

What does the Report Include?

The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. Moreover, the report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnership, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027. 

KEY DRIVING FACTORS

The emergence of Digital Media Platforms to Promote Growth

The growing influence through reality shows, music videos, and movies enable digital media platforms to play a pivotal role in propelling the sales of luxurious jewelry products globally. In addition to this, the adoption of technology in the manufacturing of the ornaments is anticipated to bode well for the global Jewelry Industry growth during the forecast period. For instance, the products such as Luxe Smart Ring by The Ringly are equipped with several technological features such as health and fitness monitoring and GPS, along with being equipped with large gemstones.

Reduce Number of Labor Workforce amid COVID-19 to Hinder Growth

The global pandemic has led to a lockdown announced by government agencies across the globe. This has led to a partial lockdown of industrial operation and has left several laborers unemployed. Owing to the reduced number of jobs, the workforce has opted to return to their native places that has severely affected the market growth. However, collective efforts by the manufacturers and government to ensure a safe working environment by taking measures to contain the widespread effect of COVID-19 is expected to drive the market in the near future.

Jewelry products mainly consist of gold, silver, diamonds, and other exotic gemstones. They have been a symbol of luxury since centuries and adorn by people for beautification and enhancing their overall appearance. Additionally, the high demand for bridal ornaments, and the different festivities and traditions followed by people globally boosts the consumption of exotic gemstones and other products.

SEGMENTATION

Necklace Segment Held a 22.70% Market Share

The necklace segment, based on product, held a market share of about 22.70% in 2019 and is likely to showcase considerable growth during the forecast period. This is ascribable to factors such as the increasing adoption of jewelry products by women consumers across the globe.

REGIONAL INSIGHTS

Presence of Established Manufacturers in Asia-Pacific to Favor Growth

Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the global Jewelry Industry during the forecast period. This dominance is attributable to the presence of established manufacturers such as Tanishq, Queelin, and others in countries such as India and China in the region. Asia-Pacific generated USD 130.49 in terms of revenue in 2019.

The market in North America is expected to experience significant growth owing to the presence of several millionaires in countries such as the U.S. that propels the sales of exotic and premium jewelry in the region. For instance, as per the Global Wealth Report 2019, 40% of the total millionaires globally are present in the United States.

COMPETITIVE LANDSCAPE

Major Companies Focus on Expansion Strategies to Leverage Market Opportunities

The global Jewelry Industry is experiencing stiff competition owing to the presence of several major companies that are focusing on expanding their facilities to cater to the increasing demand for luxury jewelry products globally. In addition to this, key players are adopting strategies such as merger and acquisition, partnership, and collaboration to maintain market stronghold in the forthcoming years.

Source:

https://www.fortunebusinessinsights.com/jewelry-market-102107

The global food enzymes market size is expected to rise considerably owing to extensive adoption of clean-labeled and natural ingredients in food & beverage industry. Fortune Business Insights, in its latest report, titled “Food Enzymes Market Size, Share & Industry Analysis, By Source (Microbes, Plants, and Animals), Type (Carbohydrases, Proteases, Lipases and Others), Application (Bakery, Dairy, Beverages, Nutraceuticals and Other Processed Foods), and Regional Forecast, 2020 – 2027.”, further observes that the market value stood at USD 1.69 billion in 2019, which is likely to hit USD 2.39 billion by 2027 while exhibiting a 4.70% CAGR during the forecast period.

What does the Market Report Include?

The market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.

Drivers and Restraints:

Increasing Consumption of Clean-Labeled Food to Surge Demand

According to the European Food Safety Authority (EFSA), long-term exposure of chemicals at high concentrated levels through food may have a toxicological effect on humans. Though they are essential building blocks, synthetic chemicals as additives have an adverse effect on health when consumed. Increasing awareness among people regarding the health concerns associated with the consumption of synthetic ingredients is expected to surge the demand for clean-labeled food across the globe. The gradual shift of the consumers from chemical ingredients to naturally processed food products that are safe and healthy will boost the demand for food enzymes in the forthcoming years. For instance, in October 2019, Tiny Organics, a U.S.-based direct-to-consumer brand, announced its launch of organic plant-based recipes that are healthy for toddlers. The recipes include baby burrito bowls, pumpkin spice oatmeal, and coconut curry-induced dishes. 

Regional Analysis:

Increasing Demand for High-quality Processed Food to Augur Growth in North America

Among the regions, North America is anticipated to remain dominant and register high global food enzymes market revenue in the forthcoming years.  This is ascribable to factors such as growing demand for naturally occurring ingredients. Additionally, increasing demand for high-quality processed food and rising investments from manufacturers to develop innovative products is likely to drive the market growth in the region. Asia-Pacific, on the other hand, is likely to register steady growth for the market during the forecast period. This is attributable to factors such as growing demand for bakery and dairy products.

Competitive Analysis:

Joint Ventures Among Companies to Spur Demand for Food Enzymes

In November 2019, Cargill along with DSM announced its plan to enter into a joint venture. Avansya, the joint venture between the two giants is about constructing a commercial facility to manufacture stevia sweeteners through the fermentation process. The companies are likely to consolidate their position with their collaboration by setting up the 10,000 sq. ft. plant that costs around USD 50 million, located at Blair, Nebraska. Adoption of strategies such as joint ventures, product launches, and expansion of product offerings by the companies to cater to the increasing consumer demand is likely to favor the global food enzymes market growth between 2020 and 2027.

Key Industrial Development:

March 2019: AB Enzymes, a leading biotech company, announced its launch of a new enzyme product, ROHALASE. The new enzyme will limit the need for chemicals to extract oil from seeds such as sunflower, soy, and canola, among others while helping the company to deliver high yields.

Source:

https://www.fortunebusinessinsights.com/food-enzymes-market-102835

The global hummus market size is set to gain momentum from the increasing shift of people towards the vegan diet, especially in Europe and North America. The surging awareness of environmental sustainability and animal welfare is compelling people to opt for plant-based dips. As per Statista, in the U.S., sales of refrigerated plant-based dips went up to USD 11 million in April 2019. As per the report, the market size was USD 2.62 billion in 2020. It is predicted to grow from USD 2.95 billion in 2021 to USD 6.60 billion in 2028 at a CAGR of 12.17% in the forecast period.

Companies profiled in the hummus market report are:

• Nestlé S.A. (Vevey, Switzerland)
• Cedar’s Mediterranean Foods, Inc. (Massachusetts, U.S.)
• Haliburton International Foods, Inc. (California, U.S.)
• Strauss Group, Ltd. (Sabra Dipping Company, LLC) (Petah Tikva, Israel)
• Bakkavor Group Plc (London, United Kingdom)
• Tribe Hummus (Massachusetts, U.S.)
• Boar’s Head Brand (Florida, United States)
• Hummus Gourmet, LLC (Lantana Foods) (Texas, U.S.)
• The Kraft Heinz Company (Illinois, U.S.)
• Hope Foods, LLC. (Colorado, U.S.)

Report Coverage:

We have conducted extensive primary and secondary research to gather information about various aspects of this report. Our special interviews with end-user respondents and supply side respondents helped in gaining insights into the average pricing, per capita consumption trend, and average spending on products, growth rate, market size, and dynamics. We have also taken information from reputed journals, articles, and press releases of companies operating in this industry.

Drivers & Restraints:

Rising Usage of Functional Ingredients to Improve Immunity will Aid Growth

Consumers across the globe are nowadays demanding for unique flavors in their dips. Hence, several manufacturers are striving constantly to come up with novel products to cater to the taste and preferences of consumers. O'Dang Foods, for instance, introduced two new flavors of balsamic feta and classic Mediterranean hummus in the U.S. in June 2020 to fulfill the high demand for Mediterranean cuisine. A few other companies are equipping their dips with various functional ingredients, such as lime, turmeric, blueberry, and lavender because of the ongoing COVID-19 pandemic for enhancing immunity. However, the increasing availability of substitutes, namely, salsa and tahini may hamper the hummus market growth.

Regional Insights:

North America to Dominate Fueled by Higher Consumption of Dips and Spreads in the U.S.

Geographically, North America held USD 1.33 billion in terms of revenue in 2020. It is anticipated to dominate the market in the upcoming years. The surging consumption and production of spreads and dips, especially in the U.S. would bolster growth. Also, companies are trying to produce attractive and new dips to generate more sales. Argania Foods, for instance, introduced vegan cauliflower keto hummus dip in the U.S. in December 2019. On the other hand, Europe is likely to remain in the second position backed by the high popularity of the product in the U.K. In Asia Pacific, the rising disposable income of people is expected to aid growth.

Segments:

Classic Segment Earned 41.40% Share in 2020: Fortune Business Insights™

Based on type, the market is divided into red pepper, classic, black olive, white bean, roasted garlic, and others. Out of these, the classic segment is set to remain at the forefront in the near future because of its versatility and easy availability. It can be consumed as a dip, spread, or appetizer. At the same time, it is highly nutritious and naturally gluten-free. The segment generated 41.40% in terms of the hummus market share in 2020.

Competitive Landscape:

Key Players Focus on New Product Development to Intensify Competition

The global market houses a large number of international and local companies that are constantly launching state-of-the-art products in various sizes to meet consumers’ needs. Most of them are conducting R&D activities to create unique dips.

KEY INDUSTRY DEVELOPMENTS:

• April 2021: Ithaca Hummus unveiled two popular flavors, namely, Lemon Dill and Lemon Garlic in the sharing-size 17 oz. container for the first time. It would help the company to offer innovative products to those who consume the product on a regular basis.
• May 2020: Brami launched a new hummus made from lime juice, sunflower & olive oil, and lupini beans. It does not require refrigeration or contain artificial preservatives.

Browse Detailed Research Insights with Table of Content:

https://www.fortunebusinessinsights.com/hummus-market-105632

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The global condom market size is expected to reach USD 10.97 billion by 2028, exhibiting a CAGR of 9.4% during the forecast period. The growing awareness regarding STDs such as, hepatitis B, Syphilis, trichomoniasis, and chlamydia can fuel demand for condoms, which, in turn, will aid the expansion of the market, states Fortune Business Insights, in a report titled, “Condom Market Size, Share & COVID-19 Impact Analysis, By Type (Male and Female), Material (Latex and Non-latex), Distribution Channel (Mass Merchandisers, Drug Stores/Pharmacies, Online Retail Stores, and Others), and Regional Forecast, 2021-2028.” The market size stood at USD 5.31 billion in 2020.

The coronavirus incident has caused colossal loss to several industries across the globe. The governments of several countries have instigated a lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.

COVID-19 IMPACT:

Increased Supply of Essential Health Products to Elevate Market amid COVID-19

The lockdown imposed by governments restricted the supply of various products. However, the accessibility and supply of essential wellness products have improved the scope of the market during the pandemic. The United Nations Population Fund (UNFPA) provided a summary in their brief published in April 2020 ‘Condoms and lubricants in the time of COVID-19’.

It has provided necessary actions that needed to be taken to sustain supplies of condoms during COVID-19 to ensure unintended pregnancies and other concerns of unprotected sex do not surface during the lockdown. Moreover, the increasing product availability and enhanced supply chain with no lockdown will consequently boost the growth of the market in the time of the pandemic.

The Report Lists the Key Companies in this Condom Market:

• Reckitt Benckiser Group (Slough, U.K.)
• LifeStyles Healthcare Pte Ltd (Melbourne, Australia)
• Caution Wear Corp. (New Hampshire, USA)
• Church & Dwight Co., Inc. (Ewing, U.S.)
• Cupid Limited (Nashik, India)
• Karex Berhad (Selangor, Malaysia)
• CPR GmbH (Sarstedt, Germany)
• ONE Condoms (Massachusetts, USA)
• Sagami Rubber Industries Co., Ltd. (Kanagawa, Japan)
• Okamoto Industries, Inc. (Tokyo, Japan)

The report on this market features:

• Far-reaching analysis of the market
• Essential facts about prominent players
• Dominant regions in the market
• Key drivers and trends
• Significant development
• Market challenges and restraints
• Coronavirus effect

Driving Factor:

Increasing Consciousness about Birth Control to Effectively Uplift Market

The growing knowledge about the use of condoms as a contraceptive can have an excellent impact on the market growth during the forecast period.  As per the Contraceptive Use by Method 2019 of the United Nations report, the prevalence of male condoms has escalated from 4.5% in 1994 to 10.0% in 2019 globally.

As per the same report, the number of women (those with reproductive age of 15 to 49 years) relying on male condoms as a means of contraception has substantially increased from 64 million in 1994 to 189 million in 2019.

Furthermore, the increasing utilization of other control methods such as oral pills can simultaneously improve the prospects of the market. However, oral pills have adverse effects and cause hormonal imbalance in women, resulting in serious health problems. Therefore, the weakened inclination towards contraceptive pills among women can subsequently fuel the demand. Besides, the rising sex education in developing nations can have a positive impact on the market in the forthcoming years.

Regional Insights:

Ever-increasing Population to Spur Demand in Asia Pacific

The market in Asia Pacific is lucrative and is expected to experience a rapid growth rate during the forecast period owing to the ever-increasing population and increasing education level in developing nations. The growing awareness regarding birth control methods can have an excellent impact on the market in Asia Pacific. The implementation of childbearing policies to control the population will effectually aid the growth of the market in the region. The increasing number of unwanted pregnancies will further spur demand for condoms, thus promoting the growth of the market.

As per the report, Contraceptive Use by Method 2019 of the United Nations, in Eastern and South-Eastern Asia, these are one of the most prevalent contraceptive methods accounting for 17% share in 2019. Europe and North America are expected to experience a steady growth rate due to contraceptive products' higher usage rate. As per the report, Contraceptive Use by Method 2019 of the United Nations, condoms in Europe and Northern America account for 14.6% share among all contraceptive methods in 2019.

Market Segments:

The market is segmented into male and female product types. The male segment is expected to dominate the market based on type owing to the higher usage rate, greater availability, and relatively lower cost compared to female product types. The market is classified into latex and non-latex.

The latex segment is expected to hold a major market share due to its greater stretchability and strength compared to non-latex materials such as polyurethane. The market is divided into mass merchandisers, drug stores/pharmacies, online retail stores, and others. The drug stores/pharmacies segment is expected to hold the largest condom market share owing to the high availability of trusted brands.

Competitive Landscape:

Rising Emphasis on Eco-friendly Products by Prominent Companies to Spur Opportunities

To attract customers, companies are focused on producing original product designs, such as those with unique tastes and lubricants. Furthermore, they are concentrating on making their goods environmentally friendly and safer to use for customers, such as through the use of environmental friendly components and the responsible use of utilities throughout the production process.

For example, Ritex, a German company, has employed EKOenergy-certified power in their sustainable product line "PRO NATURE." As a result, the launch of new goods, the adoption of environmentally friendly production techniques, and mergers and acquisitions strategies are expected to aid manufacturers in their company growth.

Key Industry Development:

October 2020: Durex, a condom brand based in Britain, introduced a new product range, ‘‘Durex invisible condoms’’. This was launched in India as India’s thinnest condom product.

Source:

https://www.fortunebusinessinsights.com/condom-market-104519