Baby Products Market Size Worth $16.78 Billion By 2025

The global baby products market size is expected to reach USD 16.78 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a healthy CAGR of 5.5% over the forecast period. The increasing population in emerging economies of Asia Pacific including India and China is likely to drive the demand for baby products over the forecast period. Increased spending capacity in developed economies of North America and Europe will also augment industry growth over the next few years.

Moreover, rising awareness about infant nutrition, hygiene, and safety in developing regions will fuel the demand further. Continuous innovation in the field is also expected to propel industry growth in the future. The cosmetics and toiletries segment held the largest share in the global market. Cosmetics help enhance infant skin, provide nourishment, resist swelling, itching, rashes, and inflammations. Apart from that, they possess antibacterial, antifungal, antimicrobial properties, which soothe and provide luster to the skin.

These beneficial properties are expected to drive demand over the forecast period. Infant food provides essential ingredients, which include vitamin B12, protein, carbohydrate, and iron, which are required in different growth phases to develop a good immune system. The availability of different food varieties coupled with its ease of use during traveling is expected to have a positive impact on the segment growth.

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https://www.grandviewresearch.com/industry-analysis/baby-products-market

Further key findings from the study suggest

  • The global baby products market is expected to witness a CAGR of 5.5% from 2018 to 2025 owing to increased female working population resulting in higher demand for ready-to-use items
  • Cosmetics & toiletries will witness the fastest growth at a CAGR of 5.7% from 2018 to 2024 owing to rising awareness regarding infant hygiene
  • Asia Pacific market was the largest baby products market in the past and will expand further on account of growing awareness about baby nutrition, hygiene, and safety
  • Key companies in the global market include Procter & Gamble Company, Kimberly-Clark Corporation, Johnson & Johnson PLC, Unilever PLC, Nestle S.A., and Abbott Nutrition
  • Most of these companies focus on increasing their global presence through M&A and brand awareness activities
  • For instance, in 2017, Abbott Nutrition announced its acquisition over Alere, Inc. The acquisition was intended to strengthen Abott’s presence in the diagnostics market

Non-alcoholic Drinks Market Worth $1.6 Trillion By 2025

The global non-alcoholic drink market size is expected to reach USD 1.6 trillion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.3% over the forecast period. Rising concerns over adverse effects associated with consumption of alcoholic beverages are expected to expand the use of functional beverages as alternatives. Moreover, increasing demand for healthy and nutritious on-the-go beverages has propelled the demand for wide variety of natural beverages in the market.

Functional beverages are expected to expand at the fastest CAGR of 6.0% from 2019 to 2025. Changing diet patterns among the young population owing to fast moving lifestyle have fueled the demand for functional products such as probiotic beverages. Moreover, these products are beneficial for improving gut health, bones strength, and immunity of the body. They provide essential nutrition for proper functioning metabolism and normal functioning of the body.

North America led the market and accounted for a share of 34.5% in 2018. Over the past few years, the major players of the region have been adopting marketing strategies including innovative product launch and mergers and acquisitions in order to cater to the increasing demand for natural, less sugary, and low calorie content beverages.

For instance, in January 2019, The Coca-Cola Company launched a new range of sparkling cocktails under the brand name ‘Bar None’ in U.S. This product is available in four flavor variants including Bellini Spritz, Sangria, Ginger Mule, and Dry Aged Cider. The company has introduced these beverages as a best alternative to the alcoholic beverages in the parties.

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https://www.grandviewresearch.com/industry-analysis/non-alcoholic-drinks-market

Further key findings from the report suggest:

  • By product, soft drinks held the largest share of 24.3% in 2018
  • The online distribution channel is expected to expand at a CAGR of 5.6% from 2019 to 2025
  • In terms of revenue, North America accounted for the largest share of 34.5% in 2018
  • Asia Pacific is projected to expand at the fastest CAGR of 6.0% from 2019 to 2025 owing to product innovation and establishment of partnerships with the distributors located in developing countries including China and India
  • Key players of non-alcoholic drinks market include PepsiCo, Inc.; The Coca-Cola Company; Danone S.A.; Starbucks Corporation; Nestle S.A.; Parle Agro; Suntory Beverage & Food Limited; Keurig Dr Pepper Inc.; Red Bull Gmbh; and Unilever.

Biofuels Market Size Worth $231.2 Billion By 2027

The global biofuels market size is expected to reach USD 231.2 billion by 2027, expanding at a revenue-based CAGR of 6.9%, according to a new report by Grand View Research, Inc. Rising environmental concerns and increase in various government policies by countries around the world to form regulations for the blending of biofuel has turned to be the key driver in broadening the market for biofuels.

Globally, increase in the demand for biofuel with addition to raising concerns for the energy security is likely to drive the market over the upcoming year. North America and European Union have formed a market by introducing new energy policies which stipulates the required rate to incorporate biofuels in petroleum products.

Few of the market leaders such as Green Plains Inc. and Biodico, Inc. are vertically integrated. Hence providing the companies an advantage in the procurement of raw material and distribution; thus, helping it to achieve various economies of scale. Some market leaders including Gevo Inc. and Wilmar International are repeatedly strengthening their core capabilities in the fields of supply chain management, operational excellence, and project execution.

However, raw material utilized for producing of biofuels are majorly agricultural crops such as corn and sugarcane. Further, large scale development of biofuels from agricultural crops poses a threat to food security and can affect availability of food products manufactured from these agricultural crops. These factors are expected to hinder the growth of the market during the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/biofuels-market

Further key findings from the study suggest:

  • North America held the largest share in 2019 in both volume as well as the value terms owing to presence of large number of ethanol manufacturing plants in the region along with rising awareness to curb carbon emissions in the transportation sector
  • The liquid form segment emerged to be the largest segment in 2019, in terms of revenue, owing to blending mandates of ethanol with gasoline fuel set in various countries such as U.S., Brazil, and various European nations
  • Asia Pacific is expected to witness highest growth rate of 6.4%, in terms of volume, in the forecast period owing to presence of biofuel supporting policies and regulations present in countries such as China, India, and Indonesia
  • The solid form segment is expected to witness highest growth rate of 8.5%, in terms of revenue, in the forecast period owing to rise in adoption of biomass energy for electricity generation and for utilization of solid biofuels for space heating in residential and commercial building
  • The saseous form segment emerged to be the second largest segment in 2019, in terms of revenue, as gaseous biofuel provides a cleaner and renewable substitute for cooking gas and it is also utilized as transportation fuel.

Film Adhesive Market Size Worth $477.4 Million By 2027

The global film adhesive market size is anticipated to reach USD 477.4 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.3% from 2020 to 2027. Increasing utilization of film adhesive in medical equipment and other related applications in the industry is anticipated to boost market growth over the forecast period.

Film adhesives have a thin layer of adhesive backed by a peelable liner. Their phenomenal properties including lightweight, high strength, and strong structural bonding give them a competitive edge over other alternatives in the market. As a result, they find applications in various end-use industries, such as toys, aircrafts and cars, appliances and electronic instruments, medical equipment, building and construction, and packaging.

The product is available in various forms, such as thermoset, thermoplastic, and pressure sensitive, and their usage varies upon their application. Thermoset film adhesive requires heat and pressure to attach to the substrate, making an irreversible bond, which enables it to resist temperature. Thermoplastic needs heat for getting attached and can be detached with heat itself. Pressure sensitive, as the name implies, is attached to the substrate with pressure and no heat.

Based on application, electronics and electrical held the largest share in the market. The product is used for joining intricate shapes in the electronic systems. For instance, in laptops, they are used for mounting labels, contamination control, gasket bonding, LCD assemblies, low resistivity electrical grounding and shielding, and thermal management. Their usage varies for each consumer good and electronic and electrical equipment.

Automotive accounted for a major share in the market. Film adhesive is used for paint protection in automobiles. For instance, 3M’s scotchgard is a polyurethane film with adhesive backing, which is used for shielding car’s front from debris and dirt. Apart from cars, film adhesive is used by the aerospace industry, especially in interior applications. For example, in aircrafts, it is used to bond decorative laminates to composite panels for interior applications.

North America is expected to witness sluggish growth over the forecast period. This can be attributed to the decline in the industrial production, mainly in U.S., owing to global pandemic crisis of Covid-19. The manufacturing facilities have halted their production and the raw material supplies are delayed owing to transport-related issues. The raw materials are unavailable in certain cases because their requirement is more essential in other applications. For instance, alcohol is used in adhesive production but its usage is more urgent in hand sanitizers. The market will take time to stabilize in the region, and hence is anticipated to register a slow growth rate over the forecast period.

The market is characterized by the presence of various leading players, which has resulted in high competition. Technological advancements, long-term contracts, investments in capacity expansion, and mergers & acquisitions are some of the key strategic initiatives adopted by the major players of the market in order to increase their revenue share in the industry. For instance, in July 2019, Bostik announced the acquisition of Prochimir, a company that specializes in thermobond adhesive films.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/film-adhesive-market

Further key findings from the study suggest:

  • By application, the electronics and electrical segment accounted for the largest volume share of 34.7% in 2019. This is attributed to growing demand for film adhesives from the industry. In October 2019, Henkel opened a new adhesive plant in Songdo-dong, South Korea, especially for electronics, which is expected to commence its full production by 2022
  • The medical application segment is anticipated to register the fastest CAGR of 2.7% in terms of revenue during the forecast period on account of increasing demand from the medical equipment sector, which is further propelled amidst the Covid-19 pandemic situation
  • Asia Pacific is expected to witness the fastest growth over the forecast period owing to growth in the end-use industries. The industrial output, which is declining across the globe in 2020 owing to Covid-19, is anticipated to be stable in China as manufacturers are resuming their operations in the country
  • Key players of the market are engaged in expanding their footprints across the globe. The growth in the Asia Pacific market has attracted investments. For instance, in March 2019, tesa SE announced its plans to invest a sum of more than €30 million in the Suzhou site in China for constructing a unit dedicated for production of precision adhesive tapes for the electronics and automotive industries.

Aluminum Flat Products Market Size Worth $74.9 Billion By 2027

The global aluminum flat products market size is expected to reach USD 74.9 billion by 2027, expanding at a CAGR of 4.2%, according to a new report by Grand View Research, Inc. Establishment of plants and stringent regulation policies is projected to assist in the growth of the market. In July 2018, BMW announced its plans to invest USD 1.7 billion in a new car factory in Hungary. Establishment of new manufacturing plants is anticipated to increase the demand for aluminum flat products in the automotive sector. In November 2017, Aleris Corp announced its capacity expansion to increase the production of aluminum sheet for the automotive sector in Europe. These initiatives by the major end-use industries and manufacturing companies are likely to propel market growth over the forecast period.

Growing demand for electric vehicles and favorable tax policies by government is another factor driving the market. Considering the environmental pollution, in January 2019, the Federal Ministry of Finance in Germany announced its plan to implement that the consumers using electric vehicles have to pay less tax than the consumers using the combustion engine to promote the sales of electric vehicles. Utilization of lightweight materials enhances the performance of electric vehicles. As electric mobility penetrates the automotive sector of the country, it is likely to generate demand for aluminum flat products over the forecast period.

The use of recycled material by the enduse industries to reduce the production cost and environmental pollution caused during the extraction of bauxite. For instance, in September 2017, Jaguar Land Rover announced to expand the use of recycled aluminum in vehicles. Jaguar Land Rover invested USD 2.3 million to meet the target of using Recycled Aluminum through Innovative Technology (REALITY) from the end of vehicles life and used in new vehicle body structure.

Availability of substitutes is likely to hamper market growth over the forecast period. Carbon fiber and magnesium alloy are major substitutes for aluminum in the automotive sector. Properties of magnesium alloys such as dent-resistance and machinability coupled with its ability to shield electromagnetic radiation and damped vibrations are likely to propel its utilization over the coming years.

Outbreak of COVID-19 in the first quarter of 2020 is projected to put short term negative impact on the market. Most governments around the world have observed lockdown due to highly contagious nature of COVID-19. This has affected temporary closure of non-essential businesses such vehicles and aircraft manufacturing creating impact in the demand of various metals and its alloys.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/aluminum-flat-products-market

Further key findings from the report suggest:

  • In terms of volume, building and construction was the largest application segment and accounted for 10,693.5 kilotons of volume in 2019. The growth of the segment is attributed to growing infrastructure investments in emerging countries such as India and Brazil
  • In terms of revenue, automotive and transportation segment is projected to witness a CAGR of 3.6% over the forecast period. Increasing aluminum content per vehicle is key factor promoting the growth of this application segment
  • Plates accounted for revenue share of 42.0% in 2019. The growth of the segment is attributed to increasing demand in shipbuilding and consumer durables industry
  • Asia Pacific is projected to remain largest regional market over the coming years on account of growing demand from automotive and construction sector.

Surgical Masks Market Size Worth $419.8 Million By 2027

The global surgical masks market size is anticipated to reach USD 419.8 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.3% from 2020 to 2027. Rising demand for respiratory protection within the healthcare industry, especially during the COVID-19 pandemic, is anticipated to spur the market growth.

Increasing advancements in the field of medical diagnosis and surgery, coupled with rising number of surgeries and medical procedures on a daily basis across the globe, are expected to drive the demand for surgical masks. Moreover, rising awareness regarding protection provided by surgical masks against airborne diseases is likely to complement growth.

The recent outbreak of the COVID-19 pandemic impacting several countries has resulted in boosting the demand for surgical masks. Moreover, government authorities have implemented measures for the usage of appropriate respiratory protective equipment to contain the spread of the virus, which is anticipated to have a positive impact on the market growth.

In addition, several automobile companies are converting their manufacturing facilities into a medical device manufacturing department to cater to the rising demand for surgical masks and other equipment. For instance, in March 2020, Automobili Lamborghini announced to convert some departments of its Sant’Agata Bolognese plant for manufacturing surgical masks.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/surgical-masks-market

Further key Findings from the Study Suggest:

  • The basic product segment accounted for 43.3% share of the global revenue in 2019 on account of to easy availability of the product, coupled with its widespread use in the healthcare sector
  • The online distribution channel segment is estimated to expand at the fastest CAGR of 8.8% from 2020 to 2027 on account of increasing penetration of e-commerce in the developing economies, coupled with consumer convenience and ease of delivery
  • Europe is anticipated to expand at a CAGR of 7.1% over the forecast period owing to the developed healthcare industry, coupled with rapid spread of the COVID-19 pandemic in the region
  • In Asia Pacific, India is anticipated to expand at a CAGR of 9.7% from 2020 to 2027 on account of growing elderly population, coupled with high prevalence of lingering illnesses, such as tuberculosis and asthma.

Sports Supplement Market Worth $43.3 Billion By 2025

The global sports supplement market size is anticipated to reach USD 43.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 11.2% over the forecast period. Increasing number of health clubs and fitness centers and urbanization are the key driving factors in the market. Some of the important trends observed in the market are growing demand for caffeine-free products and increasing investment by the companies in product development.

Demand for supplements has increased globally due to growing health concerns. Moreover, the need for sports supplements has been increasing from the past few years. Earlier athletics and sports activities were limited to teenage and young people. However, from the last few years, it has been observed that participation of children in such activities has been increasing. Parents are also supporting their children to participate in sports events to promote their overall development, thereby encouraging the growth of the market.

Protein powder is the largest product segment in the market and expected to generate a revenue of around USD 29.68 billion by 2025. Protein-based powders are one of the most common sports supplements with 1,174 brand variants and a total of 411 brands captured by Lumina Intelligence. This product category also attracted the most customer reviews, with a global total of 1.62 million and an average of 940 reviews per product.

Protein bar is expected to witness rapid growth over the forecast period, registering a CAGR of 10.3%. Shifting consumer inclination towards fruit and nut bars is expected to increase the product demand in the foreseeable future.Common supplements to increase an athlete’s energy are Guarana, Vitamin, Asian ginseng, B12, and Caffeine. Caffeine, one of the favorite energy drinks, can be found in different forms such as tablets or capsules, pills, and in common beverages like tea and coffee.

The online distribution channel is expected to witness significant growth in the market. In 2018, North America was the leading revenue contributor in the market, accounting for 34.8% share of the overall revenue. Increasing number of health and fitness centers and gyms, growing health awareness, and changing consumer preferences for protein products are some of the primary reasons for the market growth in the region.

Asia Pacific is anticipated to emerge as the fastest growing regional market and exhibit a CAGR of 12.4% during the forecast period. This is attributed to growing health and fitness awareness, rising disposable income, and increasing number of global retailers in the region.

Some of the key players operating in the market are Glanbia Plc.; Plethico Pharmaceuticals Limited; GNC Holdings, Inc.; Universal Nutritio; and NBTY. Other key players in the market are Scitec Nutrition, Creative Edge Nutrition, Enervit S.p.A., Herbalife Ltd., and MaxiNutrition.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/sports-supplement-market

Further key findings from the study suggest:

  • In terms of revenue, the powder product segment dominated the global market in 2018 and is projected to expand at a CAGR of 11.7% over the forecast period
  • North America dominated the global market in 2018 and constituted more than 34.0% share of the overall revenue. This trend is projected to resume over the next few years
  • The industry is highly competitive due to the presence of key players including Glanbia Plc.; Plethico Pharmaceuticals Limited; GNC Holdings, Inc.; Universal Nutrition; and NBTY
  • Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments.

Safety Eyewear Market Size Worth $3.0 Billion By 2025

The global safety eyewear market size is expected to reach USD 3.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.1% over the forecast period. The market is expected to witness significant growth due to increase in demand for protective equipment from various end-use industries. Strict regulations laid by the regulating bodies like the Occupational Safety and Health Administration (OSHA), along with various product offerings made by manufacturers in this market, have positively impacted growth.

Industrial manufacturing held a major share of the global market owing to the hazardous nature of the jobs in this sector. Moreover, many strict precautionary regulations have been imposed on the employers and the workers in this sector to increase adoption of protective equipment and prevent fatal injuries. The military application segment is expected to expand at the highest CAGR in the forecast period. Manufacturers are targeting this segment to provide more customization and increase their product offering as governments are investing heavily in the safety of military personnel.

The non-prescription product segment accounted for a significant share in the market. The prescription segment is anticipated to witness growth due to increasing demand for customized eyewear for individuals using spectacles for regular vision. Additionally, manufacturers are providing consultation services and trial products before buying safety eyewear. This is expected to propel the growth of the prescription segment, thereby driving the overall market demand.

Asia Pacific is anticipated to witness substantial growth in the coming years due to increasing industrialization, especially in China and India. U.S. was the largest consumer of protective eyewear in the world, followed by Germany, owing to implementation of stringent regulations by various governing bodies.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/safety-eyewear-market

Further key findings from the study suggest:

  • Based on application, the construction industry is expected to expand at a CAGR of 4.2% over the forecast period. The industrial manufacturing segment dominated the market in 2018 and accounted for more than 30% share of the overall revenue
  • Application of the product is expected to grow in the military sector in developing countries including India, South Korea, China, and Japan owing to heavy expenditure on the defense industry and protection of personnel
  • The industry is highly competitive in nature due to presence of the key players including 3M Company, Bolle Safety, and Honeywell Safety Products
  • Various manufacturers are concentrating on research and development to augment product innovations and product offerings
  • In December 2016, Hoya Vision acquired the safety prescription eyewear business of 3M Company. This acquisition expanded the product portfolio of Hoya Vision and enabled it to enter the safety eyewear market.

Baby Bottle Market Size Worth $3.6 Billion By 2025

The global baby bottle market size is expected to reach USD 3.6 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.7% over the forecast period. Hectic working hours and increasing number of working women are the key reasons behind the growth of the market. Furthermore, decrease in the infant mortality rate is a significant aspect driving the market. The World Health Organisation (WHO) suggests that breastfeeding is the only method to provide nutrition to the baby. However, due to reasons like lack of time for working women compel the manufacturers to produce nutritional content milk formula that can be used as a substitute for breastfeeding.

Demand for baby bottles is maximum in countries such as U.S., Germany, China, and Japan, wherein the markets are profitable. Demand for the product is high in the countries of Asia Pacific including China, Indonesia, Hong Kong, and Vietnam. These countries are expected to be the major contributors to the growth of the industry.

Plastic baby bottles are the largest product segment in the market and anticipated to expand at a CAGR of 5.6% from 2019 to 2025. Plastic bottles are the most preferred products among all as they are lightweight, easy to use, and possess high strength, which make them convenient to carry during traveling.

The offline segment dominated the market in 2018, accounting for 83.3% share in the global market. Baby feeding products are sold through various channels including supermarket and hypermarket, retail store, and pharmacy store in countires such as India, China, and U.S. The online segment is the fastest growing distribution channel as many manufacturers, especially from China, are selling their products through online channel. Furthermore, many regional and domestic players have their own portals for selling these products through online channel. 

Asia Pacific is expected to be the fastest growing regional market throughout the forecast period. China accounted for the largest share of 30.3% of the overall revenue in 2018. Awareness of infant nutrition and health and increasing population of working women are the major factors responsible for the growth of the market in China. Some of the key players in the market are Mayborn Group Limited, BABISIL, Pigeon, Handi-Craft Company, and Munchkin.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/baby-bottle-market

Further key findings from the study suggest:

  • Based on product, the plastic segment is anticipated to expand at a CAGR of 5.8% over the forecast period. Stainless steel was valued at USD 0.6 billion in 2018 and is projected to witness substantial growth in the next few years
  • Asia Pacific dominated the global market in 2018 and constituted 32.4% share of the overall revenue. This trend is projected to resume over the next few years due to increasing number of working women
  • The industry is highly competitive due to presence of the key players including Mayborn Group Limited, BABISIL, Pigeon, Handi-Craft Company, and Munchkin
  • Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments.

Personal Care Wipes Market Size Worth $23.1 Billion By 2025

The global personal care wipes market size is expected to reach USD 23.1 billion by 2025, expanding at a CAGR of 5.6%, according to a new report by Grand View Research, Inc. Several characteristics such as convenience, performance, ease of use, time saving, disposability, safety/regulation, and consumer-centric aesthetics are driving product demand. Moreover, growing population andhygiene awareness are the key factors responsible for the market growth.

Sudden rise in the infant population, rapid growth in urbanization, high disposable income of female consumers, and surge in hygiene consciousness among consumers are having a positive impact on the market growth. Over the past one decade, various kinds of wipes have been introduced such as intimate, wet, flushable, feminine, and scented owing to their diversified applications. Growing concerns pertaining to beauty among men and women and constant increase in air pollution are also driving the demand for the products.

Convenience and effectiveness of these products have slowly diminished the usage of traditional cleansing means. Facial and hand and body wipes are of various kinds, such as wet, hygienic, intimate, and fragrance. Wet wipes are the perfect solutions in many life situations. They can be used as a cleaning tool frequently during water scarcity and unavailability, which is a serious problem in many countries. Additionally, portability of these variants enables all types of users to easily maintain and raise personal and environmental hygiene standards and eventually reduce the risk of cross contamination.

North America emerged as the largest regional market in 2018 owing to growing demand in hygiene and household applications. In 2018, U.S. was the largest market accounting for 61.0% share due to growing demand by the U.S. population for the products that can provide convenience, save time, and still give the same cleaning result. Cost of raising a baby is high in U.S. as baby diapers and wipes are used frequently when taking care of a baby. Due to scarcity of water in many places of U.S., wipes are often used for the purpose of cleaning in restaurants, hotels, and washrooms, thereby making it the largest market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/personal-wipes-market

Further key findings from the study suggest:

  • In terms of revenue, the baby wipes segment is projected to expand at a CAGR of 5.5% over the forecast period
  • Products sold through the convenience stores accounted for 30.4% share of the overall revenue in 2018
  • U.S., China, Germany, Brazil, and South Africa are the major countries with the largest market in their respective regions.