Tag: Container

Candle Market Size Worth $6.06 Billion By 2025

The global candle market size is expected to reach USD 6.06 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.4% during the forecast period. Increasing popularity of using candles in home décor and ambience creation is expected to fuel the growth. Rapid rise in adoption for residential and commercial applications coupled with the demand for candles for religious purposes is anticipated to further drive market. Service providers such as hotels, restaurants, and beauty and spa use candles to create a warm, cozy, and relaxing ambiance. This factor is projected to further drive the product demand.

Scented candles have been gaining popularity in the recent years among urban millennials from developed countries including U.S., Germany, and France. These scented candles are available in various fragrances including basil, eucalyptus, jasmine, lavender, lemon, orange, rosemary, and vanilla among many others. Each of these fragrances are situation specific and have unique health benefits. For instance, basil helps create a positively alert mental state. It helps ensure better concentration and is found to be beneficial for nervous system stimulation, migraine relief, and improved digestion. Similarly, eucalyptus is found beneficial for the treatment of various diseases including asthma, sinusitis, bronchitis, cough, pneumonia, rheumatism, and arthritis.

In April 2019, Yankee Candle Company, launched a Sunday Brunch Candle collection. These products are available in jars under the brand names, Easter Basket and Rainbow Shake. These products will be launched in seven different fragrances including Grilled Peaches, Vanilla, Honey Lavender Gelato, Strawberry Bellini, Belgian Waffles, Blush Bouquet, and Sweet Morning Rose. Louis Vuitton, the French fashion house and luxury retailer, launched a line of scented candles in October, 2018. It will comprise of four scented candles including L’Air du Jardin, Île Blanche, Feuilles d’Or, and Dehors Il Neige.

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

Further key findings from the report suggest:

  • Votives product forms accounted for more than 25% of the global revenue in 2018
  • Pillar candles is expected to witness the fastest CAGR of 9.0% from 2019 to 2025
  • Online segment is expected to register the fastest CAGR of 8.7% over the forecast period
  • Paraffin products accounted for more than 30% of the global market share in terms of revenue in 2018
  • Key players operating in the candle market are Yankee Candles, White Barn Candles, Village Candles, Thymes, Slatkin & Co, NEST, Malin + Goetz, Jo Malone, Diptyque, Colonial Candle, Circle E Candles, Bridgewater Candles, Better Homes and Garden, and Bath & Body Works

Aluminum Foil Market Size Worth $33.1 Billion By 2025

The global aluminum foil market size is anticipated to reach USD 33.1 billion by 2025, accelerating at a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. The superior barrier properties of the product coupled with rising demand for flexible packaging is expected to drive the market.

Aluminum foil is used in various packaging and industrial applications. Packaging involves protecting food & beverage products, medicines, cosmetics, and tobacco from chemical, climatic, and physical parameters. Industrial applications of the product involve transportation, building & construction, and electrical & electronics along with it being used to manufacture heat exchanger tube fins for air conditioners, thermal insulation wrappers for pipes & ducts, and coil & capacitors.

Packaging industry is projected to generate a considerable product demand over the forecast period. Aluminum foil is an excellent material for preserving food products stored on shelves or in freezer/cooler. Containers made of this material are popular for use in food packaging. Moreover, aluminum foil containers are highly suitable for use in all types of ovens including conventional, convection, microwave, and boiler ovens.

Aluminum foil is a consumer-friendly product and is recyclable. Apart from containers, the product has a wide application scope in the form of wrappers, lids, pouches, blister packs, and collapsible tubes in a diverse range of industries such as personal care & cosmetics, pharmaceutical, and food & beverage. Moreover, the product is lightweight and is, therefore, economical and easily transportable. Its ability to act as an absolute barrier and its impermeability makes it a versatile material for packaging manufacturers.

China dominated the global aluminum foil market in 2018, which can be attributed to the country’s ability to manufacture the product at a considerably lower cost than other countries. The abundance of bauxite ores in China allows manufacturers to procure raw materials such as alumina at a low cost and thus, produce downstream products such as aluminum foil at a relatively cheaper price compared to other countries.

Other developing regions, such as India, are expected to grow at significant rates owing to the thriving economy and rapidly expanding packaging sector. Developing nations along with their burgeoning population, create a vast potential for the players in the industry. The U.S. is the major consumer of the product in the North American market. The establishment of antidumping & countervailing duty on import of aluminum foil from China in the U.S. is likely to open new growth avenues for domestic manufacturers.

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

Further key findings from the report suggest:

  • Packaging segment dominated the global market in 2018 and accounted for 69.3% of the market share in terms of volume owing to the consistent product demand from food and pharmaceutical packaging sectors
  • In packaging industry, food & beverage application accounted for the largest revenue share of 68.0% in terms of revenue in 2018
  • Pharmaceutical packaging segment is expected to progress at the fastest CAGR of 7.2% from 2019 to 2025, in terms of revenue, owing to rapid expansion of the global pharmaceutical sector
  • Asia Pacific was the largest regional market for aluminum foil, which accounted for 54.6% of the overall volume share in 2018, on account of a wide population base and the presence of a vast food packaging industry in the region.