Hydration Backpack Market Size Worth $701.9 Million By 2025

The global hydration backpack market size is anticipated to reach USD 701.9 million by 2025 registering a CAGR of 12.4%, according to a new report by Grand View Research, Inc. Increasing number of hiking enthusiasts, especially in emerging economies, such as India, China, and Brazil, is expected to assist in market growth over the forecast period. Moreover, rising awareness about maintaining a healthy lifestyle has led to increased participation in various outdoor activities, such as cross country running and walking, thereby fueling the product demand.

Sports end user segment accounted for the largest market share in 2018. Various sports associations are spreading awareness about the importance of proper hydration and are advising athletes to use hydration packs, boosting the product adoption. However, the military segment is anticipated to expand at the fastest CAGR of 13.0% owing to the introduction of camouflage fabrics. Specialty store was the leading distribution channel segment in 2018 and will retain the position throughout the forecast years.

Major companies, such as Decathlon S.A. and Lululemon Athletica, Inc., are focusing on enhancing their geographic reach, which, in turn, is expected to drive the segment growth. For instance, Decathlon has around 40 stores in U.K. and plans to open a few more by the end of 2019. Online segment is anticipated to expand at the fastest CAGR of 13.1% over the forecast period. Extensive usage of smartphone and exposure to digital media, especially in developing countries like India and China, is expected to assist in product sales through online channels.

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

Further key findings from the study suggest:

North America was the dominant regional market for hydration backpack in 2018 and will expand further at a steady CAGR from 2019 to 2025. The market is driven by the increasing participation in outdoor activities
Asia Pacific is projected to witness the fastest growth over the forecast period due to rising popularity of outdoor activities, such as trekking, cycling, and cross country running, in emerging countries
Moreover, rising number of retail outlets as major companies are focusing on expanding their businesses in APAC due to potential growth opportunities is expected to impel market growth
The global hydration packs market is highly competitive in nature. Some of the key companies are Vista Outdoor Operations LLC; Cascade Designs, Inc.;Samsonite IP Holdings S.A.R.L.; Osprey Packs, Inc.; Deuter Sport GmbH; HydraPak, LLC; Mazama Designs, LLC; Jack Wolfskin; and Columbia Sportswear Company

Canned Wine Market Worth $155.1 Million By 2027

The global canned wines market size is expected to reach USD 155.1 million by 2027, expanding at a CAGR of 10.4% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for portable and less fragile wine containers than glass for increased convenience is a key factor fueling the market growth. Moreover, increasing participation in outdoor recreational activities, such as camping, fishing, and hiking, is propelling the demand for the product.

Over the past few years, increasing enthusiasm for outdoor recreational activities has opened new avenues for canned wines. Millennials and working class people are increasingly spending on wine over other alcoholic beverages, such as whiskey and rum. Moreover, these metal cans are less expensive than the glass bottles, more environment friendly, and have considerably higher recycling rate than glass. These advantages are expected to boost the demand for these canned drinks over the forecast period.

North America emerged as the largest regional market for canned wines with a share of more than 35.0% in 2019 owing to increasing number of households participating in camping as an outdoor recreational activity. According to the statistics provided by the 2019 North American Camping Report, the number of camping households in U.S. increased by 1.4 million from 2017 to 2018. Moreover, major players in the market are launching new products in order to increase the booze tourism in the region.

The market is slightly fragmented owing to the presence of a number of domestic as well as international players across the globe. Moreover, major players are adopting various market strategies in order to capture greater market share. For instance, in March 2020, Integrated Beverage Group (IBG) announced the acquisition of Ransom Wine Co. & Distillery.

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

Further key findings from the study suggest:

By product, sparkling canned wine held the largest share of more than 60.0% in 2019 and is expected to maintain its lead over the forecast period. This segment consists of all types of sparkling wines, including demi-sec, extra dry, brut, and extra brut
Fortified canned wine is expected to exhibit the fastest CAGR of 10.7% from 2020 to 2027 owing to increasing demand for fortified wines, especially vermouth, majorly in North America and Europe owing to their low sugar as well as ABV content
The online retail distribution channel is anticipated to expand at the fastest CAGR of 10.7% from 2020 to 2027 owing to increasing participation of millennials, young generation, and working class population in the online shopping of food and beverages
North America led the canned wine market and accounted for a share of more than 35.0% in 2019 owing to substantial consumption among millennials in U.S.
Key market players include E & J Gallo Winery, Union Wine Company, Integrated Beverage Group LLC, SANS WINE CO, Sula Vineyards Pvt. Ltd., and The Family Coppola.

Ready Meals Market Size Worth $244.29 Billion By 2027

The global ready meals market size is expected to reach USD 244.29 billion by 2027, expanding at a CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising consumers’ preference for food products with minimum preparation or cooking time and higher shelf life is the key factor for the market growth. Moreover, growing busy schedule and hectic lifestyle among the working-class population and young generation is anticipated to offer new avenues for the market over the forecast period.

With the increasing busy work schedules among working-class people as well as students, they find less time for proper cooking at home. Moreover, consumers are cooking healthy food at home due to increasing focus on healthy lifestyle. Ready meals significantly complete all these requirements, and hence they are gaining popularity among youngsters across the globe.

Manufacturers are launching a wide range of products in order to cater to the rising customer demand, which is increasing the scope of ready meals in the global market. For instance, in July 2019, JBS S.A., the largest meat processing Brazilian company, launched a new range of low calories ready meals with no preservatives. These products are available in six different flavor options under the brand name of ‘Seara Foods’.

The unexpected breakdown of COVID-19 pandemic across the globe has significantly increased the demand for ready meals owing to their higher shelf life and least cooking time as compared to the fruits, fresh veggies, and meat. Furthermore, nearly all the countries in the world have proposed a country level lockdown in order to prevent the spread of this infectious disease. This has propelled the product demand across the globe.

North America held the largest share of more than 35.0% in 2019. Demand for ready meals is increasing in this region as it is one of the most severely affected regions by this pandemic. According to some local news of U.S., demand for ready meals and frozen food products has increased by around 300% in the second week of March 2020. These market trends are anticipated to surge the product demand in this year and are expected maintain a high demand over the forecast period.

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

Further key findings from the study suggest:

By product, frozen and chilled meals held the largest share of more than 50.0% in 2019 and are expected to maintain their lead over the forecast period owing to a wide range of products with high shelf life
Canned products are anticipated to register the fastest CAGR of 6.1% from 2020 to 2027 owing to rising popularity among young consumers across the globe
By distribution channel, online retail is anticipated to expand at the fastest CAGR of 6.2% from 2020 to 2027 owing to growing trend of online shopping among the consumers
North America accounted for the largest share of more than 35.0% in 2019. Food preferences among the consumers are increasing the demand for ready meals in the region
Key market players include Nestlé S.A.; ConAgra Brands Inc.; Kraft Heinz Company; Chao Xiang Yuan Food Co. Ltd.; Dr. Oetker; BRF S.A.; Berkshire; Green Mill Foods; General Mills; and Tyson Foods.