Monday, April 19, 2021

Premium Lager Market to Observe Strong Development by 2025

Industry Insights

The global premium lager market size was worth USD 161.1 billion, in 2018. It is expected to grow with a CAGR of 4.5% during 2019 to 2025. The market is expected to gain traction owing to rising demand among consumers for larger beer with its smooth taste when compared to conventional beer available in the market.

Health-related problems such as diabetics, prevention of minor fractures, blood pressure and fungal infection can be dealt with the consumption of premium lager products. Further, other factors like rise in disposable income, urbanization and increasing customer inclination towards the consumption of alcohol-based beverages are projected to accelerate the market in developing nations like China and India are.

U.K.premium lager market size

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Moreover, trends of adopting western culture like alcohol consumption in office parties can be a significant factor propelling the premium lager market. New market opportunities are expected from the tremendous shift of rural population towards urban areas in the developed countries mentioned above along with their adoption to western culture.

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Supportive policies of government are predicted to play major role in determining the industry trends. Recently, various agencies such as the U.S. TTB (Alcohol and Tobacco Tax and Trade Bureau),and the U.S. EPA (Environmental Protection Agency) have been incorporating strict norms on emissions and packaging related to the manufacturing of beer. Moreover, other norms include legal issues related to age limit, consumption and sale of alcohol are projected to negatively affect the demand-supply over the forecast period.

Product Insights

In 2018, traditional premium beer held the largest share with 54.6%s. It is manufactured by breaking down in a relatively low temperature of 45 to 60-degree Fahrenheit. The low price of raw materials along with easy procurement of these beers, easy preparations facilitate a satisfactory return on investment for the producers.

The growth accounts for the existing consumption of regular beers in European countries like the U.K., France, and Germany. Moreover, increasing consciousness pertaining to health benefits of beer like faster recovery from injury and pain, better kidney health, and prevention of type 2 diabetes is predicted to boost the demand of regular premium lager.

Craft premium lager beer is projected to grow with a CAGR of 4.8% in the forecasted period. Beers manufactured in craft brewing facilitate an original taste is attributed to attract customer desires. Canada, U.S., U.K., and Germany are the leading consumers of lager products. Daily drinking of beer to prevent anxiety and work stress is preferred by the population of these countries. The producers are concentrating on the development of new flavors and types with added health benefits from having this type of beer.

Distribution Channel Insights

The premium lager are procured through on-trade channels like restaurants, hotels, bars, and clubs. The on-trade division accounts for the highest share of 65.0% as a result of an increase in resto-bars in big economies. Furthermore, the pure taste of beer or good ambiance of clubs attracts more customers. New players like B-Dubs, an international sports bar like Buffalo Wild Wings, Inc., are entering with new alcoholic products for India. These are some of the key factors driving the market growth.

Global premium lager market share

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The off-trade segment is anticipated to grow with a CAGR of 5.0% in the forecasted period. The off-trade channel is projected to remain a leading channel among the customers in the evolving nations like India and China as they provide products in retail. Services like combo packs and gift packages also draw customers to these channels. The hectic work style of the working class is promoting an after-drinking culture which is predicted to drive the use of these channels by customers to buy alcoholic drinks like premium lager from off-trade channels like beer stores.

Regional Insights

 In terms of region, Europe is expected to acquire share of 40.0%,by 2025. The prevalent drinking of premium lager in Western European countries such as the U.K. and Germany with relation to rising health benefits like appropriate functioning of kidneys, digestive system and heart are predicted to remain key trend. Moreover, premium products by new entrants acquiring new verticals of lager market. In January 2017, Heineken announced the launch of a new craft lager production in collaboration with Bintang an Indonesian lager beer brand in the U.K.

The market in the Asia Pacific is projected to touch USD 63.7 billion by 2025. On account of the increase in middle-class families in major countries like India, Philippines, Thailand, and China are anticipated to gather some notable gains. Increase in spending of customers on resto-bar due to the incorporation of new offices in service and manufacturing sectors with the help of auxiliary government policies. This scenario is predicted to increase resto-bars and pubs with the growing use of premium lager over the forecast period, 2019 to 2025.

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Costume Jewelry Market Seeking Excellent Growth

Industry Insights

The global costume jewelry market size was estimated at USD 25.2 billion, in 2018 and is projected to grow at a CAGR of 6.5% from 2019 to 2025. The increasing fashion trends, changing lifestyle along with the rising income levels of consumer are major factors contributing to the market growth.

Furthermore, the growing interest of working individuals towards jewelry products is expected to boost the market growth. These products also available at affordable price rates and have demand from working women, youth, and corporate people. This trend is anticipated to propel the product demand in the coming few tears. Additionally, continuous price variations in silver and gold is a key factor driving the market growth.

North America costume jewelry market size

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For example, in India, the price of gold gets increased by 11.5% per year. Thus, it is challenging for the economic class groups to buy gold especially in countries such as India, where there is a high demand for jewelry ornaments. These factors are anticipated to boost demand for costume jewelry products in the next few years.

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The growing internet penetration, and rural, urban development has a positive impact on the cosmetics industry. For instance, jewelry product through online retailer has seen growth over 15.0% in the recent few years. Furthermore, increasing demand from men for the product is expected to propel the market growth.

However, the rising cost of raw material, FAD items is hindering the market growth. The unorganized supply chain also possesses a negative impact on the growth of the market. The rising number of online retailers are anticipated to provide huge growth opportunities for manufacturers in the market.

End User Insights

Based on end-user, the costume jewelry market is bifurcated into men and women. In 2018, the women segment held the highest market share of over 59.0% in the overall market.  Jewelry is considered as a key element in the woman’s outfit. Furthermore, the growing price of diamond and gold has attracted women towards costume jewelry. The increasing trend of luxury jewelry, especially among corporate women is also expected to boost market growth.

Distribution Channel Insights

Based on the distribution channel, the market for costume jewelry is bifurcated into offline stores and online stores. In 2018, offline stores channel held the largest market share of over 74.0% in the overall market. This segment is dominant owing to the availability of wide products under one roof. The consumer also prefers to visit offline stores for personalized product designs.

Online channel is projected to grow at the highest CAGR of 7.1% from, 2019 to 2025.  The growing number of internet users across rural and urban areas is a key factor driving the growth of the segment.

Type Insights

The costume jewelry market is divided into necklaces, bracelets, rings, earrings, and others depending on the type of the product. In 2018, the ring-type accounted for the largest market share of 33.6% in the overall market. Owing to the rising demand of different gems, rings demand is projected to increase especially in countries such as India in the next few years.

Global costume jewelry market

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Earring jewelry products are projected to grow at the CAGR of 6.9% from, 2019 to 2025. The growing popularity among the youth population is particularly in women is anticipated to proliferate the product demand in the next few years. In India, there is a huge demand for earrings as they are widely used by all age groups of women which in turn is boosting the market growth.

Regional Insights

The Asia Pacific region held the largest market share of over 35.0%, in 2018 and is also estimated to remain the leading shareholder over the forecast period, 2019 to 2025. In the region, India is projected to grow at a CAGR of 6.2% during the forecasted period. The availability of a wide variety of products for all age groups is a key factor driving the growth of the market.

Europe is projected to grow at the highest CAGR of 8.0% from 2019 to 2025. Europe is known as the fashion capital of the world and rising demand for premium and traditional ornaments in jewelry is a primary factor driving the market growth in the region. Top companies are focusing on designing new innovative designs for their consumers.

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Fish Powder Market to Gain Significant Revenue in the Period of 2025

Industry Insights

The global fish powder market size was estimated at USD 6.64 billion, in 2018 and is projected to grow CAGR at 6.5 % over the forecasted period, 2019 to 2025. The growth is attributed to the rising awareness of consumption of fortified foods. Increase in consumption and production of functional food is expected to further accelerate this market.

Increasing investment on different fish species such as horse mackerel, anchovy, capelin, and sand eel is expected to boost the sales. The product development is depending on the availability of a wide variety of fish species such as sardine, menhaden, capelin, anchovy and white fish such ascod and haddock.

Europe fish powder market size

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Increasing awareness among consumers related to proteins and minerals contain in fish powder is expected to drive the market demand during the forecast period.

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Increasing demand for ready to eat meal coupled with highly functional ingredients is expected to fuel the market growth. Dried fish contain large amount of protein. Therefore, it is added in ready to eat meals to enhance the protein content of the food by 30%. Growing demand of fish powder in ready to eat meal products is anticipated to proliferate the market demand.

Source Insights

By source, the market is divided into whole fish and by-product. Whole fish segment accounted for the largest market share with 61.53%, in 2018. This high revenue share can be attributed to the growth of captured fisheries. Rise in the demand of frozen food coupled with advanced technology such as spiral freezer and horizontal wrapper packaging are expected to witness positive impact on market.

By-product, the segment is expected to grow at the highest CAGR of 7.8% during the forecast period. This high growth rate can be attributed to increasing production of by-product of fishes. Due to rise in this segment, it is expected that fishmeal production will increase more than 25% in the forthcoming years. In 2016, the wild capture production was 3.7 million tons compared to aquaculture production of 1.94 million tons in the same year. These factors are expected to drive the demand for this market over the forecast period.

Application Insights

By application, the fish powder market is segmented into swine, aquaculture and poultry. Among application, aquaculture segment held the largest market share of 52.03% of the global market share, in 2018 owing to the increasing aquaculture production. This production has been increased from 58.96 million tons to 80.03 million tons from 2010 to 2016. Moreover, rising demand for sea food is expected to further flourish the market demand and expected to expand with CAGR of 5.15% during, 2019 to 2025.

Global fish powder market share

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Poultry segment is expected to grow with CAGR of 8.40% from 2019 to 2025 due to development of feed industry. The feed industry is also expected to register more than 8% CAGR in forthcoming years due to the increasing number of cattle, poultry industry, and aqua feed. The growth of the feed industry coupled with rising demand in fisheries will positively impact the market growth.

Regional Insights

Asia Pacific held the largest share of 71.54%, in 2018. This is attributed to the increasing aqua feed production. Europe is projected to witness the highest CAGR of 8.2% over the forecast period, from 2019 to 2025 due to growth in aquaculture industry. Further in Europe the aquaculture application is expected to growth at the fastest rate with a CAGR of 8.2%, during the forecast period. In addition, fisheries &aqua culture segment production accounted 6.45 billion and expected to grow at a CAGR of 6% over the forecast period. Increasing number of catchers for fisheries is expected to drive the market growth in this region.

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Global Kitchenware Market to Observe Strong Development by 2025

Industry Insights

The global kitchenware market accounted for USD 56.8 billion, in the year 2018. It is estimated to grow significantly, at a CAGR of about 4.5% over the forecast period. There has been a rapid increase in urbanization in developing nations. Their economies are becoming stronger with time. Furthermore, the lifestyle of people has seen a massive change and the buying power of the consumers has also increased. These factors have fueled market growth from, 2018-2025.

Further, growing preference of consumers towards having a smart kitchen is expected to provide traction to the market growth. This has also led to the change of preference of kitchenware products by the consumers. Moreover, there has been a rapid increase in the number of households in countries like India. The migration of people to different countries is also a prime reason behind the increasing number of residential buildings. These are some of the key factors which are expected to drive the market during the forecast period, 2019 to 2025.

North America Kitchenware market

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Nowadays, most of the students from countries like India prefer going abroad for higher studies. Further, employees of different companies move abroad for work. This has accelerated the market demand. Moreover, manufacturers are focused on constantly innovating the products to gain competitive advantage over its rivals. This has influenced the customers to constantly buy the products.

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There has been a rapid increase in the hospitality segment in Asia Pacific. A large amount of investment has been made in this sector. Moreover, the rise in the tourism sector in countries like Thailand and Malaysia has also fueled the growth of several hotels and resorts which indirectly propelled the demand for kitchenware products. The leading players in the hospitality sector are trying to improve their services to cope up with the increasing competition. Therefore, sector is expected to provide substantial demand over the forecast period.

Globalization has impacted the adoption of different cuisines across regions. Consumers prefer to cook different types of cuisines in different kitchenware products. For example, for cooking North Indian dishes people use cookware products and for cooking Italian dishes people use bakery ware products. This has propelled the demand for kitchenware products and is expected to further drive the market over the next few years. According to the Indian tradition, most of the people prefer cooking vegetarian and non-vegetarian dishes in separate utensils. This has influenced them to purchase different kitchenware products in a large number. 

Distribution Channel Insights

In terms of revenue, the offline distribution channel accounted for greater than 80.0% of kitchenware market share, in 2018. This method of shopping is prevailing in the market since the past few decades. Moreover, consumers have developed a perception that online distribution channels will not deliver the products properly as the products are very delicate. The key players such as Homecentre and Inter Ikea Group are deeply rooted in the market and are influencing the consumers to purchase the products using offline channels.

The online distribution channel segment is estimated to grow at a CAGR of about 5.3% during the forecast period. An increase in the number of online retail stores that provide attractive discounts, replacement facilities, and faster and safer delivery are proliferating the growth of the segment. A rise in the number of working populations who prefer using online retail shops for easier accessibility has driven the demand for this segment. Moreover, there has been a rise in the adoption and usage of the internet among the rural population which is one of the most important driving forces propelling the market growth. 

Product Type Insights

In the year 2018, the market share of the cookware segment accounted for more than 35.0% and is estimated to have the largest market share among the other segments. It has been observed that a majority of people from countries like India prefer to cook food rather than going out or ordering online. Youngsters, nowadays, are very concerned about their health and fitness. Therefore, they are more inclined towards cooking their own food instead of eating outside. These are the major factors that have contributed to the growth of the cookware segment.

Global kitchenware market

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The segment of bakeryware is projected to grow significantly from, 2018-2025. There has been a rise in the adoption of bakeryware products in countries like China and India. The lifestyle of people is changing rapidly. Their disposable income is also increasing. These factors have driven the kitchenware market growth in the forecast period. Further, there is high demand for bakeryware products in European region as their cuisine mostly consists of baked food items. These are some of the factors resulting in the high revenue share for the bakeryware segment, in 2018. 

Regional Insights

In 2018, the revenue share held by Europe was highest with more than 34.0% and it is estimated to grow significantly in the forecast period. Germany held the largest share in Europe, in the year 2018. Further, the country is projected to grow at a CAGR of 4.4%, during 2019 to 2025. The regional growth is driven by factors such as high consumption for kitchenware products and increase in the buying power of consumers.

Asia Pacific is anticipated to grow at the fastest rate during, 2019 to 2025 owing to rise in demand for the product from emerging economies like China and India. Further, there has been an increase in the number of households because of the growing population. Moreover, countries from this region have estimated continuous development, which has accelerated the demand for this product at a higher pace. The market growth is propelled by factors such as increase in disposable income of consumers, rapid urbanization, growing hospitality &tourism sectors, and increase in number of resorts and hotels at tourist places in countries such as Malaysia and Thailand.

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Thursday, April 15, 2021

Artisanal Ice Cream Market Size Is Rising Tremendously

Industry Insights

The global artisanal ice cream market size was accounted for USD 6.0 billion, in 2018. The market is projected to grow at a significant CAGR during the forecast period. The market is primarily driven by growing demand for ice creams with fruit flavors. Artisanal ice cream is a mixture of different flavors such as strawberry, vanilla, and other fruit flavors. The consumer are looking for natural & organic ice cream that are enhanced with mixed flavors which come up with low fat, and sugar content in it. This is a key factor driving the growth of the market.

Artisanal ice cream is made with natural ingredients, artificial flavors, and zero preservatives. These products have short shelf life, which is of eight weeks, whereas industrial ice cream have long shelf life. Thus, these ice cream product supplements ready to eat demand for the food as dessert.

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The artisanal ice cream is gaining traction among youth population as a healthy snack food product. Due to the health consciousness, and the presence of nutritional ingredients, demand of the product is expected to increase in the forecast period. In addition, the growing consumer preference for organic or plant-based products is also anticipated to drive the market growth.

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The Asia Pacific region is projected to propel the demand of the product owing to the large population of sweet tooth, and supportive climatic conditions. Additionally, the rising preference towards handmade ice cream is projected to increase the artisanal ice cream market growth.

The top manufacturers in the market, focus on developing new products with nutritional and healthy attributes. For instance, in 2018, Eden Creamery LLC has introduced ice cream with low-calorie content in the gingerbread flavor. The company has also launched mini ice creams in various flavors such as mint chip, strawberry cheesecake, chocolate chips, and peanut butter. 

Distribution Channel Insights

The distribution channels are bifurcated into supermarket and hypermarket, convenience stores, and specialty stores. In 2018, the specialty stores channel accounted for the largest market share of 35.9%, in the overall market. The consumers are preferring specialty stores owing to the factors such as enhanced test, confidence, and trust on the brands. The growing trend of organic, gluten free, and vegan are gaining in popularity which in turn is increasing the demand of the ice creams. Moreover, the companies focus on extending their retail chain network. For example, in 2019, Naturals, has launched 125 stores in Indian market. Also, Ice cream lab, is planning to open 100 stores in the Indian market in the next few years.

Supermarket & hypermarket segment is projected to grow at the fastest CAGR of 7.4% during the forecasted period, from 2019 to 2025. Increasing busy lifestyle is prompting consumers for one-time shopping at hypermarket, which is boosting the growth of the channel. Major players in the market locate their brands through supermarkets. For instance, in 2015, Haagen-Dazs, launched ice cream in banana rum flavor, while Ben & Jerry launched ice cream in raspberry flavor.

Regional Insights

In 2018, North America accounted for largest market share of 41.4% in the overall market. The growing health consciousness and changing diet among consumers has spurred the growth of the organic and natural ice creams in the region. The growing awareness about artificial flavors, and sugar content is a major factor increasing the demand of the product.  Moreover, it has been observed that, consumer focus on packaging aspects before buying food product. For example, in 2017, Van Leeuwen saw rise in its revenue after packaging change.

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Asia Pacific is estimated to grow at a significant CAGR rate from 2019 to 2025. The region is expected to have significant demand of ice cream as a popular dessert dish. The rising population along with rapid urbanization in the countries such as India, Thailand, and China is anticipated to propel the demand of the product in the next few years.

For instance, China surpassed the U.S., in 2014 for ice cream in the global market. Furthermore, the increasing demand of premium ice cream owing to the health benefits is anticipated to bolster the demand for the product in the coming few years.

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