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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

 

 

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 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

 

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According to Fortune Business Insights™, 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.

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. 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)

 

Report Aim & Scope:

  • An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
  • The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
  • The various parameters accelerating the growth of the market are incorporated in the research report.
  • The report analyzes growth rate, market size and valuation of the market during the forecast period.

 

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.

 

Browse Detailed Summary of Research Report with TOC:

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