Tag: Taiwan

Pet Food Ingredient Market Worth $59.45 Billion By 2025

The global pet food ingredients market size is expected to reach USD 59.45 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 5.9% during the forecast period Increasing pet ownership is one of the key trends escalating market growth.

dog and a cat are eating together from a bowl of food. Concept cat and dog friendship

Rendered protein meals such as fishmeal, poultry by-product meals, and meat and bone meal are universally used in companion animal’s feed owing to protein-rich content along with a good balance of amino acids. Balancing essential and conditionally essential fatty acids is an important factor for the selection of specific fats in a diet regime.

The global sales of dog foods with probiotics exhibited a whopping 139.0% growth from 2017 to 2018. Superfood is witnessing strong growth in sales, including 2.0% sales growth for pet foods with blueberry, 8.0% for cranberry, and 13.0% for sweet potato. Increasing focus on nutrition of companion animals and rising consumer willingness to spend on pet care are anticipated to drive the market at a healthy growth rate over the coming years.

Rising number of hypermarkets along with pet specialty stores resulted in development of distribution channels, which is augmenting the global pet food ingredient market. Key manufacturers are involved in marketing and educational campaigns to increase consumer awareness regarding benefits of nutritious ingredients, which is likely to propel the market over the coming years.

Some of the major players in the market are Diana Pet Food; AFB International; Kemin Industries; Lallemand, Inc.; Vitablend USA; American Dehydrated Foods, Inc. (ADF); Alltech; Kalsec, Inc.; Ameri-Pac, Inc.; and BTSA.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/pet-food-ingredient-market

Further key findings from the report suggest:

  • The global pet food ingredient market is likely to generate a demand of 24,600.6 kilotons by 2025
  • In terms of revenue, Asia Pacific emerged as the fastest growing region in the pet food ingredient market
  • Asian countries such as India and China are expected to witness notable growth in the coming year

Essential Oils Market Demand To Reach 473.31 Kilotons By 2027

The global essential oils market demand is expected to reach 473.31 kilotons by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 7.5% from 2020 to 2027. Aromatherapy is rapidly gaining momentum as a convenient method of healing lifestyle diseases, which is contributing to the demand for essential oils. It is also important to notice that sales are closely related to consumer education-the more consumers are informed regarding applications and usage of essential oils, greater is the sales.

Essential oils are majorly composed of terpenes and their oxygenated derivatives, which usually include monoterpenes and sesquiterpenes. They are present in specialized cells/glands in various plants and the position of these glands varies depending upon the morphology and physiology of the plant. During manufacturing process, these glands are ruptured by pressing or by application of heat, which emanates aroma. The product is composed of aromatic compounds, which are volatile as well as hydrophobic in nature.

A majority of the consumers demand essential oils for various purposes, such as for enhancing air freshness at home by adding drops in aroma pots or aroma diffusers, which diffuse oil in the form of atomized particles, and in aroma bath by adding oils to the water. Young women use these products for making homemade cosmetics owing to their natural content and medicinal benefits.

Rising demand for organic products is another factor influencing consumer trends. Further implementation of regulations favoring the use of environmentally friendly ingredients in cosmetics and food and beverage industry has awakened people’s interest to seek products made from natural ingredients. The industry has witnessed a sharp increase in demand for 100% plant-based products that are devoid of synthetic fragrances and animal-derived components. As a result, majority of the population is turning to organic products to gain health benefits.

Owing to the outbreak of coronavirus around the world, many of the countries are observing lockdown situations. This is expected to lead to major raw material shortages, disruption in supply chain, and increased prices of highly demanded products in the next two to three quarters. Moreover, restrictions on imports and exports of goods by any means from most of the South East Asian countries can worsen the situation in the coming months. However, on the brighter side, the temporary closure or slowing down of manufacturing plants of synthetic flavors and fragrances in China can be seen as an opportunity to the essential oil distillers as the manufacturers may turn to the smaller vendors to fulfil their raw material requirements.

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

Further key findings from the report suggest:

  • In terms of revenue, the orange oil product segment is expected to expand at a CAGR of 7.4% over the forecast period
  • In 2019, food and beverages application emerged as the second largest application segment with a share of 38.6% in terms of volume
  • Asia Pacific is projected to witness the fastest growth over the forecast period.

Vetiver Oil Market Size Worth $88.0 Million By 2027

The global vetiver oil market size is expected to reach USD 88.0 million by 2027, expanding at a revenue-based CAGR of 9.4%, according to a new report by Grand View Research, Inc. The market is expected to witness surging product demand owing to its increasing applications in pharmaceutical, food and beverage, and fragrance. Growing use of the product in the fragrance industry is expected to boost market growth over the forecast period. It also has widespread usage in varied fragrance products including perfumes, deodorants, cosmetics, lotions, soaps, and scented toiletries. R&D related to synthesis of the molecules present in the product, particularly is expected to provide unique odor to this product and thereby increase its usage in the fragrance industry.

Vetiver oil has widespread usage in medical applications such as treatment of gout, arthritis, muscle aches, cramps, and rheumatism, which is further expected to favorably impact market growth. Furthermore, this essential oil sedates nervous irritations, convulsions and emotional outbursts such as epileptic, restlessness, and hysteric attacks. The product is also used to ease inflammation of the nervous as well as circulatory systems.

Increasing use of vetiver oil as a flavoring agent in the food and beverage segment including ice creams, milkshakes, and several other cool drinks is expected to favorably impact market growth over the forecast period. Furthermore, vetiver oil is also used in certain canned foods such as asparagus as well as peas, wherein the product is used to reinforce natural odor as well as taste.

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

Further key findings from the report suggest:

  • The vetiver oil market is anticipated to reach 748.4 tons by 2027 in terms of volume, at a volume-based CAGR of 7.8% from 2020 to 2027
  • In terms of revenue, the food and beverages application segment is projected to ascend at a CAGR of 9.8% over the forecast period
  • In terms of volume, spa and relaxation emerged as the largest application segment in 2019 owing to increasing consumption of personal care and cosmetics products in developing economies
  • Asia Pacific is projected to witness a remarkable growth rate of 8.9%, in terms of volume, in the near future, owing to the increasing consumption of personal care and cosmetic products in the region
  • Some of the key companies present in the industry are Unikode S.A.; Fleurchem, Inc.; Aromatic Hebals Private Ltd.; Frager S.A.; Manohar Botanical Extracts Pvt. Ltd.; Imperial Extracts; Falcon; and Van Aroma.

Wafer And IC Shipping & Handling Market Worth $14.16 Billion By 2025

The global wafer and integrated circuits (IC) shipping & handling market size is expected to reach USD 14.16billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to grow substantially over the forecast period on account of the rising demand for ICs in communication systems and consumer electronics.

The market is expected to witness significant growth over the forecast period on account of increasing demand for integrated circuit (IC) chips in communication systems, automotive and consumer electronics. In addition, the rising demand for ICs is expected to have a positive impact on the demand for silicon and integrated circuits (IC) processing & storage, shipping & handling markets, which is likely to drive the demand for wafer carriers over the projected period.

The raw material manufacturers are trying to integrate across various stages of the value chain, namely supply of raw material, manufacturing of the products and supply of the manufactured products to achieve higher profit margins and meet the rising consumer demand, by reducing the lead time.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/wafer-integrated-circuits-ic-shipping-handling-market

Further key findings from the report suggest:

  • The demand for IC trays is expected to grow substantially over the forecast period as the product aids in bulk shipment and maximum protection to the ICs. It is most commonly used the product as an IC tray can accommodate between 10 and 400 chips, which is only a small portion of what is on a wafer.
  • JEDEC trays account for over 90% of the overall processing & storage products market. The high strength of the product coupled with the efficient design of the trays is expected to be the driving force in the processing application.
  • The demand for carrier tapes is expected to witness substantial growth over the forecast period on account of the utilization of different types of material to meet a variety of shipping & handling needs. Materials including polycarbonate and polystyrene are utilized in the manufacturing of carrier tapes, as they are non-conductive and possess antistatic properties.
  • Asia Pacific accounted for the largest revenue share on account of the presence of a large number of semiconductor manufacturers and integrated device manufacturers (IDMs). The growing demand for the ICs and silicon wafers in the region coupled with increasing exports from Taiwan and South Korea is expected to drive demand
  • The demand in the Middle East is spearheaded by Israel owing to the presence of manufacturers such as fabless, multinational design and fabs. As there are established local players such as Mellanox and Broadlight and startups Siverge and Anobit the demand for silicon wafers is high in the country resulting in high demand for wafer carriers.
  • The companies in the wafer and integrated circuits (IC) shipping & handling market are highly competitive and compete on the basis of prices and regional expansion. Global players such as Entegris and Dalau cater to their local market while catering to the demand across all the other regions.

Systemic Lupus Erythematosus Market Size Worth $3.08 Billion By 2025

The global systemic lupus erythematosus market size is expected to reach USD 3.08 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 7.0% during the forecast period.Introduction of new biological therapies, which will add to treatment alternatives and medication costs, in the development pipeline is estimated to fuel revenue generation of the market. Certain new promising drugs that are currently in Phase III trials are anticipated to augment the market as these drugs may target the lupus nephritis patient subset with few effective alternatives and significant unmet needs to be met. This factor is likely to have a strong impact on the market as nearly 50.0% of SLE patients suffer with lupus nephritis.

Use of approved biologic, Benlysta, through clinical studies, has revealed drastic improvements and substantial decrease in consumption of anti-inflammatory glucocorticoids in moderate SLE cases. GSK’s current initiatives center on further increasing opportunities for Benlysta. The company is conducting indication expansion clinical trials, combination therapy studies with rituximab, and new product development, to widen opportunities for its therapy. In this direction, recent launch of Benlysta’s subcutaneous formulation in several countries is expected to boost the SLE market over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/systemic-lupus-erythematosus-sle-market

Further key findings from the study suggest:

  • North America was the major contributor for the SLE market revenue in 2017 and is anticipated to rise at a CAGR of 8.1% during the forecast period. This is due to availability of reimbursement and better healthcare infrastructure and accessibility to biologics.
  • Europe was ranked as the second largest regional market in the SLE market in 2017 and is expected to register a CAGR of 5.5% over the forecast period
  • Immunosuppressants held the largest share in the market in 2017 due to their low cost and high accessibility, whereas the biologics segment is projected to post the highest CAGR during the same period
  • In 2017, the oral segment held the dominant share of over 54.0% in the market, followed by the intravenous segment that requires trained medical personnel for administration. Over the forecast years, the latter is poised to expand at a CAGR of 10.4%
  • Key players in this space include GlaxoSmithKline, Roche, Pfizer, Novartis, Bayer, and Sanofi. By 2025, other companies such as ImmuPharma, Aurinia Pharmaceuticals, and Astra Zeneca are anticipated to enter the SLE market.

Medical Tourism Market Worth $179.6 Billion By 2026

The global medical tourism market size is expected to reach USD 179.6 billion by 2026, according to a new report by Grand View Research, Inc., registering a 21.9% CAGR during the forecast period. Medical tourism generates direct foreign exchange income and contributes to the overall development of any economy. It also provides employment and business opportunities for residents. Moreover, it aids the growth of associated businesses such as pharmaceuticals, medical devices, and tourism. Government support to maintain the general reputation and political stability of the host country is a key factor driving the medical tourism market.

Government authorities are willing to invest in local enterprises to capitalize on the growth of medical tourism. Such government bodies have been authorizing projects that help in the overall development of infrastructure in a country, such as public transport system and water supply facilities, to attract high-end medical travelers.

Medical tourism. Flat design modern vector illustration concept.

Medical tourism has led to a rise in state-of-the-art medical facilities in developing countries to attract foreign nationals, resulting in fast growth of healthcare infrastructure in such countries. Moreover, healthcare providers now offer comprehensive medical tourism packages that include services ranging from ticket booking to hotel stay and medical insurance.

Thailand dominated the market in terms of revenue in 2018 owing to low cost and good quality medical services offered in the country. In 2016, Thailand ranked 18th in the International Healthcare Research Center’s Medical Tourism Index. Moreover, the country ranked 13th on the same index in terms of quality of facilities and services provided owing to well-developed healthcare infrastructure and increasing number of medical professionals. Thailand is also home to Asia’s first largest private hospital, Bumrungrad International Hospital, which is also the first hospital to receive a JCI accreditation and ISO 9001 certification. Till date, over 53 private hospitals have received JCI accreditation.

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

Further key findings from the report suggest:

  • While Thailand is popular for cosmetic procedures, India is most preferred for cardiovascular and orthopedic procedures. Brazil and Costa Rica, on the other hand, are preferred for dental procedures
  • Thailand dominated the market in terms of revenue in 2018 due to the massive difference in treatment cost compared to developed countries. Around 2.4 million people visited Thailand to seek medical care in 2017 owing to low cost and good quality medical services
  • Singapore, Colombia, Taiwan, and Spain are some of the fastest growing medical tourism destinations in this market. Medical tourism is an important source of revenue generation for these countries, boasting advanced healthcare infrastructure and skilled manpower to cater to international patients
  • Bumrungrad International Hospital and Apollo Hospitals Enterprise Ltd. are the leading treatment destinations for medical tourism in Thailand and India respectively. Other prominent examples include Mexicali Bariatric Center in Mexico and TMC Fertility in Malaysia.