Savory Snacks Market Size Worth $218.44 Billion By 2025

The global savory snacks market size is expected to reach USD 218.44 billion by 2025, according to a new report by Grand View Research, Inc. The rising health awareness coupled with growing consumption of healthy snacks is expected to drive demand for the product.

Savory snacks are majorly categorized as snacks that are not sweet in taste. The market growth of these products is driven by health considerations and consumer taste. The presence of numerous flavors coupled with rising R&D investment by major industry players in order to introduce new products is further expected to propel growth over the coming years.

The major products in the market are potato chips, nuts & seeds, extruded snacks, and popcorn. The growing consumption of convenience food is expected to fuel the demand for the product. The changing retail landscape and the rise of e-commerce are expected to have a positive impact on the growth over the next nine years.

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http://www.grandviewresearch.com/industry-analysis/savory-snacks-market

Further key findings from the report suggest:

Nuts & Seeds are expected to be the fastest growing segment with a CAGR of 9.4% from 2016 to 2025 on account of rising demand from Japan and Brazil
Convenience stores are expected to be the highly preferred distribution channel in 2025 with a share of over 33% on account of easy availability of the products
The roasted/toasted flavored savory snacks are the largest flavor segment in the market growing at a CAGR of over 8.0% from 2016 to 2025. The familiarity of taste and availability of a large number of products in this flavor are expected to drive the demand.
Asia Pacific is the fastest growing regional segment with market share of over 30% in 2015. The growing demand from developing countries such as India, Indonesia, and Thailand is expected to propel the demand over the next nine years.
The industry participants are constantly engaged in improving their operations and introduction of new flavors to gain market share. The industry is characterized by high marketing costs and rising investments in order to improve the supply chain of the company.

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.

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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.

Vegan Sauces, Dressings & Spreads Market Worth $365.8 Million By 2027

The global vegan sauces, dressings & spreads market size is expected to reach USD 365.8 million by 2027, expanding at a CAGR of 8.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising adoption of vegan lifestyle owing to increasing awareness pertaining to adverse environmental effects of eating habits is expected to drive the market. New products launches have also been acting as a catalyst for the market growth.

For instance, in December 2019, Il Mulino, a New York-based Italian restaurant, launched plant-based sauces, including Organic Tomato Basil, Marinara, Bolognese, Vodka, and Pomodoro. These come in small batches and include San Marzano tomatoes and cold-pressed EVOO from Abruzzi as major ingredients. These products are priced between USD 12 and USD 15.

Moreover, in January 2020, Tesco through Wicked Kitchen launched vegan sauces and dressings, including beetroot dressing, siracha, teriyaki, Asian style BBQ, mango, and horseradish and mustard. Similarly, in October 2019, LEON has launched a new range of sauces, including mayonnaise, beetroot ketchup, chili, and brown, through 600 Sainsbury’s stores. The company is focused on inspiring people to consume plant-based food. The company claims its products are free of artificial ingredients.

Additionally, in October 2019, French Cravings launched a range of vegan dips through Walmart. Most of these dips are derived from almond and cashew. These dips are available in various flavors including Kickin’ Queso Style Cashew, Zesty Ranch Cashew, Creamy Dill Cashew, Creamy Garlic Almond, Spicy Garlic Almond, Organic Creamy Vanilla Cashew Dip, Organic Chocolate Mousse Cashew Dip, and Smokehouse Almond. The company is focusing on expanding its buyer base by targeting those customers who have been shifting towards veganism.

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https://www.grandviewresearch.com/industry-analysis/vegan-sauces-dressings-spread-market

Further key findings from the report suggest:

Based on product, the sauces segment was valued at USD 90.4 million in 2019. This is attributed to increasing adoption of the product in various cuisines across the globe
Plant-based dressings are expected to register the fastest CAGR over the forecast period owing to increasing dependence on salads as meals globally
Online distribution channel is expected to witness the fastest growth from 2020 to 2027. The convenience pertaining to direct to customer delivery and access to a large variety of flavors are expected to drive this channel in the years to come
North America and Europe jointly accounted for more than 65.0% share of the global revenue in 2019. Growing importance of vegetarianism in developed countries, such as U.S., Germany, U.K., France, and Canada, is expected to have a positive impact on the market growth in these regions.

Thermal Energy Storage Market Size Worth $10.1 Billion By 2027

The global thermal energy storage market size is expected to reach USD 10.1 billion by 2027, expanding at a CAGR of 12.6% from 2020 to 2027, according to a new report by Grand View Research, Inc. Rising demand for cost competitive and efficient energy sources is likely to boost the market growth over the forecast period.

The market is primarily driven by the use of thermal energy storage as a major renewable option for electricity generation. Heat stored by seasonal and short-term thermal energy storage systems helps balance the variations in the production and distribution of renewable electricity in a cost-effective manner. Moreover, it is a sustainable energy source and causes no adverse environmental impact. Growing adoption of renewable energy is expected to positively influence the market growth.

Several thermal energy storage equipment manufacturers and service providers adopt strategies, such as collaborations, joint ventures, partnerships, agreements, and new product development, to cater to the changing technological requirements of different end users, thereby enhancing their foothold across the market. Major manufacturers include Evapco Inc.; Ice Energy; Caldwell Energy Company; and Abengoa Solar, S.A. The manufactured systems include ice thermal energy systems, heating terminals, heating pump chillers, heat exchangers, solar steam systems, air conditioning systems, heliostats, and parabolic trough collectors.

The global market is characterized by high competition and market players are focusing on forward integration by establishing their presence in manufacturing as well as distribution. Distributors in the value chain include thermal energy storage stations and plants, combined heat power (CHP) plants, microgrids, and cogeneration power plants as well as district energy, district heating and cooling, and process cooling.

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https://www.grandviewresearch.com/industry-analysis/thermal-energy-storage-market

Further key findings from the report suggest:

Molten salt technology occupied the largest revenue share in 2019 owing to its high technological efficiency and usage in several solar power projects
Ice-based technology is projected to witness significant growth over the forecast period owing to growing applications of ice storage air conditioning
By product type, sensible heat storage occupied the largest revenue share in 2019 owing to its applicability across large scale heating, ventilation, and air conditioning (HVAC) systems
Asia Pacific is expected to be the fastest growing regional market over the forecast period owing to growing demand for reliable power supply across developing economies, such as China and India.

Drinking Water Adsorbents Market Size Worth $603.9 Million By 2025

The global drinking water adsorbents market size is expected to reach USD 603.9 million by 2025, registering a CAGR of 4.0% over the forecast period, according to a new report published by Grand View Research, Inc. Increasing demand for activated carbon for filtration of drinking water, owing to its advanced properties and low cost is predicted boost the product demand.

Rising focus on the use of natural raw materials, such as coconut shell, wood, plant waste for production of activated carbon in order to develop environmentally sustainable product is anticipated to create growth opportunities for the market in the forthcoming years. Fluctuation in prices of aluminium hydroxide, which is a primary raw material in production of alumina is expected to influence the product prices.

The rising level of water contamination has forced governments across the globe to impose strict waste treatment and pollution control norms to reduce the contamination of groundwater and water resources. These norms and regulations mandate industries to adopt environmentally-friendly and efficient water treatment and disposal methods.

The market is facing challenges in disposal of spent adsorbents, as they are classified as hazardous materials, since metal ions attached to these adsorbents poses a risk for direct disposal. Hence, these materials are typically treated by stabilization or solidification before landfilling, which adds significant cost to the overall operation.

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https://www.grandviewresearch.com/industry-analysis/drinking-water-adsorbents-market

Further key findings from the report suggest:

Activated carbon was the dominant product segment occupying 65.7% of the market share in terms of revenue in 2018, as the product is a preferred choice for the removal of multiple contaminants, owing to its ability to remove every single type of contaminant
The market for zeolite based drinking water adsorbents is expected to expand at a CAGR of 4.1% from 2019 to 2025 on account of superior performance of the product in the removal of heavy metals form water
China is expected to remain a major consumer in the drinking water adsorbents market, owing rising product demand from various end-use industries for water treatment processes and is expected to realize a revenue of USD 117.5 Million by 2025
Europe is expected to expand at a CAGR of 3.3% by revenue over the forecast period, on account of the presence of stringent regulations governing municipal water
The companies lay high emphasis on expanding their footprint in an attempt to increase market share and drive revenue. Companies are expanding their services in the Middle East, Asia Pacific, and Africa regions to cater the needs of emerging nations

Whiskey Market Size Worth $89.60 Billion By 2025

The global whiskey market size is expected to reach USD 89.60 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 6.4% during the forecast period on account of rising product consumption across the globe. Growing product usage in the artistic preparation of alcoholic drinks is the key factor driving the industry. Blended whiskey is likely to remain the most lucrative product segment over the forecast period due to ongoing experimental activities to produce innovative drinks.

The market has also experienced a high demand for rye-based and single- and double-malt whiskey rich in new flavors. Use of malt whiskey in cocktail formulation is anticipated to increase the demand further. The segment is predicted to experience a steady CAGR over the next few years. The overall whiskey market has witnessed a shift from branded and premium drinks to super-premium and high-end premium drinks produced by skilled craftsmen using traditional processes.

High-end premium segment is likely to witness considerable growth due to market consolidation and high-entry-barrier of new companies. However, a small customer base and high prices of these products may limit the segment growth. The U.S. whiskey market is proliferating in line with the increasing disposable income levels, which has resulted in rising demand for the premium-quality products, such as corn and malt whiskeys.

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https://www.grandviewresearch.com/industry-analysis/whiskey-market

Further key findings from the study suggest:

Blended whiskey dominated the global market in 2018; while, the malt whiskey segment is projected to ascend at a CAGR of 7.1% over the forecast period
The premium quality segment led the global market in 2018 accounting for a revenue share of 43.7%
Rising preference for high-quality craft whiskey over those provided by established brands owing to the distinct taste and flavors will drive the segment
The whiskey market in North America has grown at a prolific rate over the past few years owing to consumer preference for conventional, locally produced drinks
Pernod Ricard, Hotaling & Co., William Grant & Sons, and Diageo plc are the prominent companies in the global market
Most of these manufacturers provide whiskeys produced from locally-grown grains, such as rye, barley, and wheat. The whiskey distilleries owned by these companies are majorly located in U.S. and Europe owing to the substantial demand

Powder Coatings Market Size Worth $19.9 Billion By 2027

The global powder coatings market size is expected to reach USD 19.9 billion by 2027, at a revenue-based CAGR of 7.0% from 2020 to 2027, according to a report by Grand View Research, Inc. The market is expected to witness significant growth over the forecast period primarily owing to superior properties of powder coatings over conventional paints including high resistance to corrosion, chipping, and abrasion, durability, cost-effectiveness, excellent finishing, and reduced processing time.

Growing purchasing power, high living standard, and rapid urbanization is expected to drive the consumer goods sector, thereby driving product demand over the forecast period. Powder coatings are used in consumer goods such as refrigerators, washer tops and lids, air-conditioner cabinets, water heaters, range housings, dishwashers, microwave oven cavities, and freezer cabinets.

Asia Pacific emerged as the fastest-growing region and is expected to witness a CAGR of 7.8%, in terms of revenue, over the forecast period. Increasing demand for consumer goods such as washing machines and refrigerators in countries such as India, China, Vietnam, Philippines, and Thailand are expected to boost demand for powder coating in these applications. Growing demand for automobiles in emerging markets such as China and India coupled with favorable FDI norms by governments is expected to facilitate investment in the region.

North America was the third-largest market and held a market share of 21.9%, in terms of revenue, in 2019. Expanding automotive industry in U.S. and rising concerns regarding VOC emissions released from the coatings used in automobile production are expected to boost the demand for powder coatings in the region.

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https://www.grandviewresearch.com/industry-analysis/powder-coatings-market-analysis

Further key findings from the report suggest:

Epoxy-Polyester (Hybrid) is expected to be the fastest growing resin type during the forecast period from 2020 to 2027
Consumer goods application occupied the largest revenue share on account of rising demand for domestic appliances in emerging countries such as India, China, Vietnam, Philippines, and Thailand. This, in turn, is expected to boost the demand for powder coatings in the coming years
Major key players in powder coatings market includes Akzo Nobel N.V; The Sherwin-Williams Company; PPG Industries, Inc.; BASF SE; DSM; Valspar; Axalta Coating Systems; Arkema S.A.; and Bayer AG.

Castor Oil & Derivatives Market Worth $2.0 Billion By 2025

The global castor oil and derivatives market size is expected to reach USD 2.0 billion by 2025, expanding at a CAGR of 6.7%, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a fast pace owing to increasing demand from end-use industries, especially biodiesel, cosmetics, and pharmaceutical. The growth in the market can be attributed to increasing demand for biodegradable and sustainable products on account of shifting industry trends toward reducing the dependency on petrochemicals.

Mounting preference of end-use manufacturers toward bio-based chemicals can be attributed to the fluctuating prices of petrochemical-based products, which are a result of the demand-supply gap. This shift toward bio-based products has caused distress in the global chemical industry and has fueled the demand for vegetable oils, especially castor oil. Favorable regulatory support from developed economies of North America and Europe, owing to the resolutions for reducing environmental hazards related to petrochemicals and conventional sources, is anticipated to fuel the market growth in the near future.

The product is primarily found in semi-tropical and tropical regions across the globe. India is the largest manufacturer of castor oil and the production is anticipated to rise on account of high availability of seeds in the country. According to the Amisy Group, prominent producers in 2018 were Brazil, China, and India, which account for over 80% of the global castor oil production volume. Plant cultivation is dependent on the climate and its harvesting requires approximately six months, resulting in an unpredictable supply of raw material. Fluctuating prices of the raw material owing to inconsistency in supply chain and high dependency on climatic conditions are projected to restrain the market growth.

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https://www.grandviewresearch.com/industry-analysis/castor-oil-derivatives-industry

Further key findings from the report suggest:

The castor oil and derivatives market demand is anticipated to reach 1,079.9 kilotons by 2025, at a CAGR of 4.1% from 2019 to 2025
In terms of revenue, the undecylenic acid product segment is projected to ascend at a revenue-based CAGR of 7.5% over the forecast period
In terms of volume, plastics and resins emerged as the largest application segment in 2018, owing to growing preference for biodegradable plastics across the globe
Europe is projected to witness a remarkable revenue-based growth rate of 6.5% in the near future, owing to the increasing consumption of personal care and cosmetic products in the region
Jayant Agro Organics, NK Proteins Limited, and Adani Wilmar Limited are the market leaders owing to their strong product portfolio. Adani Wilmar Limited has a broad product portfolio of castor oil and derivatives and operates in over 50 countries, globally

Building Thermal Insulation Market Size Worth $38.95 Billion By 2025

The global building thermal insulation market size is expected to reach USD 38.95 billion by 2025, at a CAGR of 4.8%, according to a new report by Grand View Research, Inc. Implementation of stringent regulations by various governments to reduce greenhouse gas emission is expected to have positive impact on the growth.

Increasing demand in residential and commercial applications, owing to rising energy costs and importance of energy conservation is expected to drive the market over the forecast period. In addition, government initiatives to promote energy efficient operations is estimated to benefit the product demand.

The market exhibits high level of integration by the raw material suppliers across the value chain. This enables the players to expand their scope of operations and enter new geographies. The manufacturers may face pricing pressure due to fluctuation in raw material prices on account of unstable crude oil prices.

Increasing R&D expenditure to develop transparent insulation technology to impart superior aesthetic appearance to thermal insulation materials is expected to boost the product adoption. In addition, development of vacuum insulation panels as an economically viable solution for household applications is expected to propel growth of the building thermal insulation market.

The industry is capital intensive, hence entry and sustenance requires considerable time, resources, and planning. Favorable government regulations coupled with increasing regulatory support is expected to attract a number of new entrants. Highly fragmented nature of the market is expected to encourage the entry of new players.

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https://www.grandviewresearch.com/industry-analysis/building-thermal-insulation-market

Further key findings from the report suggest:

Glass wool accounted for the market share of 28.3% in 2018, owing to its ability to withstand temperature fluctuations and reduce energy consumption
Wall insulation led the market in 2018 and is estimated to reach USD 16.77 billion by 2025, owing to larger surface areas of insulation coupled with rising number of residential construction activities across the globe
Commercial application emerged as largest application segment in terms of revenue in 2018 and is expected to expand at a CAGR of 4.5% from 2019 to 2025, owing to increasing importance of energy efficiency in commercial and public buildings due to rising energy costs
The consumption in Asia Pacific stood at 5,535.3 kilotons in 2018 and is expected to exhibit the fastest growth over the forecast period due to the rapid economic development coupled with rising construction spending by the governments to improve public infrastructure
Major companies in the building thermal insulation market such as Owens Corning are focused on mergers and acquisitions to expand their geographical presence

Aerospace & Defense MRO Market Size Worth $161.60 Billion By 2025

The global aerospace and defense MRO market size is projected to reach USD 161.60 billion by 2025, according to a new report published by Grand View Research, Inc. It is expected to expand at a CAGR of 5.4% over the forecast period. Expanding aircraft fleet coupled with increasing fleet replacement age is anticipated to propel the growth.

Intensified demand for air travel, driven by a rising disposable income of consumers from the emerging markets is likely to have a positive impact on the growth of the market for aerospace and defense Maintenance, Repair, and Overhaul (MRO). Burgeoning adoption of advanced aircraft by various government agencies to increase their defense capabilities is projected to propel the market growth. Also, a longer in-service period of aircraft is expected to benefit the market growth.

The aerospace and defense MRO market has been witnessing an increasing integration by the OEMs, which is expected to intensify the market rivalry. The market participants are trying to focus on creating additional value by adopting business models that span across the product life cycle. This has led to exponential growth in several strategic alliances, including mergers and acquisitions, leading to intense competition.

Despite a large number of potential opportunities, the new entrants are expected to face operational hurdles due to infrastructure, regulatory, and geopolitical challenges. Furthermore, the presence of established players, controlling a large market share and a strong foothold of the market players coupled with the capital intensive nature of the business is expected to restrict entry to the new players.

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https://www.grandviewresearch.com/industry-analysis/aerospace-defense-maintenance-repair-overhaul-mro-market

Further key findings from the report suggest:

Line maintenance is expected to be the fastest-growing product segment with a CAGR of 6.3% over the forecast period owing to mandatory schedule periodic line maintenance of aircraft, coupled with growth in passenger and freight traffic
Narrow-body aircraft accounted for the largest market share of 53% in 2018, owing to rise in replacement of regional jets and turboprops with single-aisle aircraft
Military MRO is projected to witness significant growth over the forecast period, on account of rising initiatives by the governments to strengthen its defense with the procurement of advanced aircraft
Asia Pacific is projected to witness the fastest CAGR and surpass North America over the forecast period, due to a rise in passenger traffic in developing economies in Asia, especially in China and India
The aerospace and defense MRO market participants compete based on proximity to the customers, geographical presence, skilled labor force, and service cost to gain greater market share