Hot Melt Adhesives Market to witness significant gains from packaging & automotive industry, Europe to register highest growth

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Hot Melt Adhesives (HMA) Market is gaining considerable traction with growing need for high standard performance adhesives across various industries. HMA also known as hot glue, is a form of thermoplastic adhesive that provides optimal hold & superior manufacturing flexibility. In industrial applications, HMA provide several advantages over waterborne or solvent based adhesives. Some of the expectational benefits offered by HMA including longer shelf life, quick drying, increase throughput in production, and easy disposal have significantly driven the product demand. As of 2015, HMA industry stood at USD 5.5 billion and is projected to surpass USD 10 billion by 2024. According to Global Market Insights, Inc., the global hot melt adhesives market is foreseen to record an annual growth rate of more than 6% over the period of 2016-2024.

U.S. Hot Melt Adhesives Market Share, By Application, 2015
U.S. Hot Melt Adhesives Market Share, By Application, 2015

Hot melt adhesives market will continue to expand at a rapid pace, as these adhesives address the ever-growing environmental concerns. The usage of HMA are favored by regulatory bodies as they are categorized as eco-friendly, VOC free, and safe thermoplastics suitable for storage, transportation, and production. The global hot melt adhesives industry is gaining high prominence in North America and Europe, as the product usage has received a green signal from the regulatory bodies such as REACH and EPA. With almost all the industries seeking more smart and competent solutions to manufacture and package goods, boost line speed, and reduce operational time, the HMA industry is witnessing a plethora of application scopes across myriad industries.

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Packaging represents a major end-use market for hot melt adhesives. Hot melt adhesives market share from the packaging application is expected to exceed USD 3 billion by 2024 and attain a CAGR of 5.5% over 2016-2024. The hot glues based with styrene block copolymer and amorphous poly-alpha olefins are widely used in hygiene products including adult incontinence, baby diapers, and female hygiene products. Hot melt adhesives industry size from disposable applications is projected to surpass a valuation of USD 1.6 million by 2024.  Apart from this, HMA also finds usage in footwear, furniture, textiles, automobiles, and pressure sensitive products.

APAC represents​ one of the fastest growing market for HMA. India and China are the prominent growth avenues in Asia Pacific, supported by robust infrastructure development and aggressive investments in the manufacturing sector. China hot melt adhesives industry share has witnessed a substantial raise, owing to strong demand from the furniture and the construction industry. This wide application scope has also stimulated the polyamide, EVA, and PUR based products. The EVA hot melt adhesives market is projected to generate revenue over USD 3.5 billion by 2024. Amorphous poly-alpha-olefin and EVA are two main product segments which are mainly used in automobile, paper industry, and woodworking applications. Amorphous poly-alpha-olefin hot melt adhesives industry is estimated to record a CAGR of 5% over 2016-2024. APAOs are used for repairing motorcycles, marine crafts, trucks, and cars on account of high resistance to moisture, chemical inertness, and UV protection.

Europe, led by Germany hot melt adhesives market, is expected to record highest gains at an annual growth rate of 4.5% over 2016-2024. Escalating automotive industry, packaging, electronics, and textile industries in the region has provided a positive outlook for regional hot melt adhesives industry to flourish. Moreover, stringent regulation by EPA and REACH pertaining  to the use of bio-based products has fueled HMA market growth.

Globally, hot melt adhesives industry is quite consolidated in nature with companies such as Dow Chemical, 3M Company, Avery Dennison, Henkel, Sika AG, and H.B. Fuller accumulating significant industry share.

Author Name : Ojaswita Kutepatil

Flexographic printing inks industry to accrue profitable returns via packaging applications over 2016-2024, APAC to majorly drive the global demand

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Flexographic Printing Inks Market graph is expected to display an upward trend, subject to extensive product usage across the food & beverage, pharmaceuticals, and cosmetics sectors. These products are extensively used in the packaging sector pertaining to their favorable properties. The thriving Flexible Packaging Industry, which is anticipated to accrue a massive revenue of more than USD 250 billion by 2024, will thus, favorably influence the business trends. According to Global Market Insights, Inc., “Flexographic Printing Inks Industry is forecast to hit the targeted revenue of more than USD 11 billion by 2024, registering a CAGR of over 5% during the period from 2016 to 2024.

U.S. Flexographic Printing Inks Market size, by product, 2015 & 2024 (KT)
U.S. Flexographic Printing Inks Market size, by product, 2015 & 2024 (KT)

Taking into consideration the geographical landscape, Europe flexographic printing inks market is forecast to record notable gains of over 4.5% over the coming seven years. The huge presence of cosmetic manufacturing firms in the region is expected to drive the market. Germany and France are likely to be the major revenue contributors. The North America industry is expected to make major revenue contributions toward flexographic printing inks industry, driven by escalated product demand across the food packaging sector. The U.S. is projected to contribute a large chunk towards the regional share.

Asia Pacific flexographic printing inks market, which collected a revenue of over USD 2.5 billion in 2015, is anticipated to experience a notable surge over the coming timeframe. The growth can be credited to altering lifestyles of consumers along with the rise in the purchasing capacity of the middle-income groups. India and China are expected to majorly boost the regional share.

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Flexographic printing inks find extensive applications in corrugated containers, tags & labels, flexible packaging, metal cans, and folding cartons. Flexographic printing inks industry size in the flexible packaging sector is forecast to grow considerably over the years to come, driven by the product’s favorable features such as moisture retention, aroma preservation, sealing, and improvement of aesthetic appearance.

UV-cured, water-based, and solvent-based inks are the major products types of flexographic printing inks industry. Water-based flexographic printing inks market, which dominated the overall industry size in 2015, is expected to witness a substantial growth over the next few years. The growth can be ascribed to its major application in newspaper, paper, and cardboard printing. Growing use of non-VOC inks across the printing sector coupled with mounting government support for usage of low VOC inks across the food & cosmetic packaging sectors will push the revenue.

Solvent-based flexographic printing inks industry revenue, which was estimated at over USD 1.5 billion in 2015, is expected to expand remarkably over the coming years. Favorable properties such as scratch resistance, exceptional printing ability, and durability has made the product more popular across the packaging sector.

UV-cured flexographic printing inks market size is expected to grow at a CAGR of over 6% during the period from 2016 to 2024, driven by the product’s ability to provide color consistency, chemical resistance, gloss, and rub resistance.

Flexographic printing inks industry is highly fragmented with top six industry players contributing less than 20% of the global market share in 2015. TOYO Ink Group, Flint Group, ALTANA AG, INX International, Wikoff Color Corporation, Sun Chemical, Zeller+Gmelin GmbH & Co. KG, A.M. Ramp u. Co. GmbH, T&K TOKA Company Limited, Siegwerk Druckfarben AG & Co. KGaA, Sun Chemical, Zhongshan DIC Colour Company Limited, XSYS Print Solutions Limited, and Shanxi Tercel Ink Group are the major participants of flexographic printing inks market.

Author Name : Dhananjay Punekar

Silver Nanoparticles Market to witness remarkable gains from healthcare applications, Global revenue to surpass USD 3 billion by 2024

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Silver Nanoparticles Market is capitalizing on its core product properties to gain a remarkable impetus in F&B, healthcare & life sciences, electronics & IT, and textiles industries. The silver nanoparticles are one of the most commercialized nanoparticles, which occupied half of the global nanomaterials landscape in 2015. The industry players are constantly focusing on innovating technologies toward advancements of nano products. Many industry experts are seen investing more in R&D to facilitate biosynthetic processes pertaining to its environment friendly and cost-effective properties.

U.S. Silver Nanoparticles Market size, by application, 2013-2024 (USD Million)
U.S. Silver Nanoparticles Market size, by application, 2013-2024 (USD Million)

In order to gain a competitive edge over the co-industry players, top-notch companies such as Dior and Chi are adding a point of difference in their product values. For instance, the Chi company recently launched a hair straightener which contains silver nanoparticles to guard against infections. Another top beauty product company Dior, has introduced a nano-based cosmetic product ‘Diorskin Forever’ for better skin.

These silver nanoparticles possess distinct optical, thermal, and electrical properties which make it suitable for electronics and textiles applications. These products offer UV protection, resistance to fungi or stains, water repellence, and breathability. The product is also used in upholstery fabrics, bed & table linen, floor covering, geotextiles and car seats. Silver nanoparticles market share from textile application was more than 20% of overall industry stake in 2015. The product also has a huge growth potential in smart textiles, which are equipped with electronics and sensors for safety and fitness purpose.

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The surging electronics & IT sector in Asia Pacific is also set to stimulate the regional silver nanoparticles industry share. High demand for electronic products and mass production units in this region have significantly propelled silver nanoparticles industry to expand.  For instance, Samsung has incorporated silver nanoparticles in its washers to provide it with antibacterial effect.

Silver nanoparticles industry is further witnessing a rising application scope in food & beverages sector, owing to its ability to prevent pathogens and improving the product shelf life. In 2015, silver nanoparticles market from F&B generated revenue worth over USD 70 million. Reportedly, the product has a Food Contact Substance approval from FDA. Making best of the opportunity, Nanox, a Brazilian company doubled the shelf life of pasteurized fresh milk from seven to fifteen days. The company was able to achieve this feat by including silver microparticles with antimicrobial, bactericidal, and self-sterilizing properties into the plastic bottles that are used for packaging of the milk.

Stringent food safety standards and growing food & beverage industry in the U.S. have positively influenced the regional silver nanoparticles market growth. Moreover, the region is also witnessing high demand for clothes sterilizing, owing to rising health and safety concerns among workers. U.S. silver nanoparticles industry share was worth UDS 300 million in 2015, and is expected to attain lucrative growth over the coming years.

The escalating developments in the healthcare industry have provided a substantial push to Europe silver nanoparticles market. The healthcare & life science application in Europe accounted over 30% of the regional market, owing to rising consumer spending in medical services and the growing health concerns. Silver-based nanoparticles are used in wound healing processes and sterilizing medical equipment. The soaring healthcare industry in UK has also provided a significant impetus to the regional silver nanoparticles industry share, which stood at USD 40 million in 2015.

Industry players are seeking technological progressions pertaining to biological route with an aim to make the products environmental friendly. Many competitors are also working on using alternative nanomaterials to combat high market price associated with silver. However, the exceptional incorporation of silver nanoparticles by various companies in their product portfolios demonstrates that this market is certain to attain a remarkable valuation over the coming years. As per a report by Global Market Insights, the global silver nanoparticles market is estimated to record a CAGR of 13% over 2016-2024.

Key silver nanoparticles industry players include Emfutur Technologies, American Elements, Nanoshel, Nanocs, Cima Nanotech, Cline Scientific, Bayer, Meliorum Technologies.

Author Name : Ojaswita Kutepatil

APAC biostimulants industry to observe a massive surge over 2017-2024, Global revenue to surpass USD 4 billion by 2024

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An intense need to practice sustainable methods of farming to increase the crop yield for rapidly rising population will stimulate Biostimulants Market size over the coming years. According to the UN reports, the total food production needs to be raised by 50% by the end of 2024, to fulfill the demand of the global population, which is anticipated to hit 9.2 billion by 2050. Favorable government legislations encouraging the usage of biological agrochemicals in farming activities along with the growing consumer trend towards organic food consumption will beneficially leverage the business scope. As per Global Market Insights, Inc.,” Biostimulants industry value, which was estimated at USD 1.5 billion in 2016, is projected to surpass USD 4 billion by 2024.

Europe Biostimulants Market Size, By Crop, 2016-2024 (USD Million)
Europe Biostimulants Market Size, By Crop, 2016-2024 (USD Million)

Biostimulants are extensively used in seed treatment, foliar treatment, and soil treatment. Foliar treatment applications, which produced an income of more than USD 1.4 million for biostimulants market in 2016, are anticipated to register an annual growth of more than 10% over 2017-2024. Large-scale use of microorganisms in organic farming and the introduction of new farming techniques in agriculture to raise the crop production is expected to impel the industry revenue.

Biostimulants market share from soil treatment application is expected to exceed USD 400 million by 2024, subject to the product use to improve the soil texture and enhance the plant growth.

Taking into consideration the topographical trends, Asia Pacific biostimulants industry is anticipated to record a CAGR of more than 12.5% over the coming seven years, owing to the mounting need for improving the fertility of soil to fulfill the rising food demand. Promotion of ecofriendly agricultural activities by the regional governments will further contribute towards the revenue.  India and China are expected to drive the regional growth.

MEA biostimulants market is projected to hit a revenue of USD 155 million by 2024, driven by the rise in non-traditional crop production for export in Europe and the U.S. Egypt, Saudi Arabia, and Tunisia are predicted to be the major regional revenue contributors.

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Europe industry, which contributed more than 36% towards the global biostimulants industry share in 2016, is forecast to make notable contributions towards the industry size in the future. High consumer demand for organic agro-based products coupled with strict norms addressing issues related to food safety will propel the growth.

Biostimulants are available in liquid and dry forms. Dry biostimulants market which generated a revenue of USD 1 billion in 2016 is expected to drive biostimulants market size over the coming years. Product’s capability to promote cell multiplication, improve respiration process in plants, delay plant aging, and make the process of photosynthesis faster will fuel the industry trends.

Liquid formulations which were valued at over USD 1.2 billion in 2016, are projected to grow at a CAGR of 12% over the coming seven years. Elongated shelf life and low cost of production will boost the product demand.

Based on active ingredients, biostimulants market is classified into extract based and acid based ingredients. Extract based ingredients, which contributed more than USD 550 million towards biostimulants industry size in 2016, are forecast to grow at a cumulative rate of 10.5% over the period of 2017-2024. Product’s ability to improve abiotic & biotic tension tolerance as well as enhance the growth of roots and seeds is expected to push the revenue.

Acid based ingredients are expected to contribute more than USD 2 billion towards biostimulants industry revenue by 2024, subject to easy availability of raw materials such as organic wastes and humic materials at lower costs.

Biostimulants are majorly used in the production of row and turf & ornamental crops. Turf and ornamental crops covered 11% of the overall industry and is anticipated to witness substantial gains over the coming timeframe. Rising consumer expenditure on leisure activities such as gardening, golf, turf sports, and nurseries will contribute remarkably towards the profits.

Row crops are foreseen to produce a revenue of greater than USD 2 billion by 2024.The revenue growth can be attributed to high food grain & oilseed production. The ability of biostimulants to improve crop protection at times of drought will further push the demand.

Market participants will adopt key growth strategies such as joint ventures, mergers & acquisitions, regional expansion, and strategic alliances to gain a competitive advantage in the global industry space. Artal Agronutrients, Ag Concepts, Cairochem, Valagro, Mahafeed Specialty Fertilizers Private Limited, Micromix Plant Health Limited, Lallemand Incorporation, Agrinos Incorporation, Evergrow, Agricultural Sciences Incorporation, and Seipasa S.A. are the key players of biostimulants industry.

Author Name : Dhananjay Punekar

Cancer biological therapy market to exceed the 100 billion-dollar mark by 2023, U.S. to be the key growth avenue

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Cancer is becoming a leading cause of death on a global scale, owing to which cancer biological therapy market has witnessed a significant surge over the recent years. According to WHO, over 14 million new cases and 8.2 million cancer related deaths was recorded in 2012. Furthermore, WHO also estimated new cancer cases to raise by 70% over the next two decades. Tobacco consumption is considered as the most prominent risk factor stimulating the cancer occurrence in people.

U.S. Cancer Biological Therapy Market size, by product, 2012 – 2023 (USD Million)

U.S. Cancer Biological Therapy Market size, by product, 2012 - 2023 (USD Million)

The growing geriatric population is more prone to cancer as per the statistics documented by ACS. Individuals aged 50 and above accounted for more than 86% of cases in the US. As per the reports, In US, more than 246,660 breast cancer cases and 180,890 prostate cancer cases had been diagnosed in 2016. This has considerably surged the global cancer biological therapy market share which was worth USD 61.3 billion in 2015. As per a report by Global Market Insights, Inc., Cancer Biological Therapy Market is estimated to cross USD 100 billion mark by 2023, by attaining a growth rate of 6% over 2016-2023.

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Cancer biological therapy uses the body’s immune system to fight cancer or to lessen the side effects. Cancer vaccines & monoclonal antibodies are among the most promising biological approaches toward cancer treatments. The antibody therapy has by far been the most thriving approach for the treatment of solid tumors and hematological malignancies. Over the period of 2016-2023, the bispecific monoclonal antibodies market is projected to grow at an annual rate of 6.5%, thereby fueling cancer biological therapy industry growth. The cancer vaccines market is also projected to grow at an annual rate of 17.2% over 2016-2023.

Japan contributes a major share in the Asia Pacific cancer biological therapy industry, subject to high prevalence of cancer in growing geriatric population base. The region covered more than 40% of overall APAC revenue share in 2015. Furthermore, China is also set to provide huge growth potential for cancer biological therapy market with favorable government policies and investment in R&D to innovate novel treatments. Strong governmental support and beneficial reimbursement policies will attract huge investments by the industry players to advance the manufacturing capabilities.

North America cancer biological therapy market is driven by a considerable increase in local and private funds for research and development activities. U.S. was the leading country accounting for more than 80% of North American revenue generation in 2015. Germany cancer biological therapy industry acquired a major revenue chunk of the overall Europe market in 2015. Favorable insurance policies in the region are expected to boost the industry share over the coming years.

Company players are majorly focusing on developing various innovative products with minimal side effects. Prominent companies are targeting on the invention of novel drugs to sustain their market positions. Encouraging governmental initiatives and funding have further created new growth avenues for the industry participants. Some of the key cancer biological therapy industry players include Bristol-Myers Squibb, Eli Lilly, Celgene Corporation, Seattle Genetics, Inc., Amgen Inc., GlaxoSmithKline Plc, Novartis International Ag, F. Hoffmann-La Roche AG, Spectrum Pharmaceuticals, Inc., and Merck & Co., Inc.

Author Name : Ojaswita Kutepatil

Antidiabetics market to witness substantial gains via the type II diabetic applications, APAC to emerge as one of the most promising growth avenues over 2016-2023

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Global antidiabetics industry is strongly characterized by the regulatory norms implemented by leading organizations such as the European CE and the FDA. These organizations undertake the responsibility of regulating the commercialization of antidiabetics in clinical trials. With the exponentially growing population and the prevalence of a sedentary lifestyle, a significant rise in the patient pool suffering from diabetes has been observed, which is likely to spur global Antidiabetics Market.

   Europe insulin antidiabetics market size, 2015 & 2023, (USD Million)

Europe insulin antidiabetics market size, 2015 & 2023, (USD Million)

The rising number of diabetic cases have prompted the governments across various geographies to take steps toward promoting awareness regarding this disorder. For instance, the ‘Diabetes UK’ is slated to launch one of the biggest campaigns to encourage consciousness regarding Type II diabetes. The program will also make people aware of the harmful consequences of developing diabetes, encourage them to get screened regularly, and provide other related details. Such campaigns and awareness programs are certain to bring about a positive influence on global antidiabetics market.

In consequence to the unmet medical requirements of the healthcare fraternity and the rapid increase in the diabetic patient base, antidiabetics industry players have been concentrating on increasing their funding on research & development activities with an aim to launch novel insulin products that will efficiently treat this persistent sugar disorder. Major companies such as Sanofi Aventis, Eli Lilly, and Novo Nordisk currently dominate global antidiabetic market, pertaining to their popular brand value, wide range of products, and increased R&D investments. Many antidiabetics products that are currently in the pipeline to be commercialized are manufactured by these companies. In addition, global antidiabetics industry involves the participation of other generic manufacturers such as Pfizer, Oramed Pharmaceuticals, Inc., Takeda Pharmaceuticals, Boehringer Ingelheim, and Merck & Co. Inc.

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According to a report generated by Global Market Insights, Inc., worldwide antidiabetics market size was valued for USD 51.1 billion in 2015, and is anticipated to surpass USD 116 billion by 2023, with a CAGR estimation of more than 10% over 2016-2023. Global antidiabetics industry already has a strong foothold across various geographies, and is expected to strengthen its position across the globe over the years to come. For instance, North America, in 2015, had covered more than 42% of the overall antidiabetics market share, with a valuation of USD 22.2 billion. The United States is a major contributor toward the regional revenue. As per estimates, in 2015, the U.S held the largest share of North America antidiabetics industry, pertaining to the availability of an estimated 24-million patient base, 23% of which were undiagnosed. Subject to the presence of high grade medical infrastructural facilities, increased healthcare expenditure, and a rather supportive reimbursement framework, North America antidiabetics market is expected to grow rather significantly over the forthcoming years.

Global antidiabetics industry is driven by sulphonylureas, DPP-4 inhibitors, SGLT-2, insulin products, alpha-glucosidase inhibitors, GLP-1 agonists, thiazolodinediones, meglitinides, and biguanides. Insulin occupies a lion’s share in the overall demand of antidiabetic products. Pertaining to the growing prevalence of diabetes, a subsequent increase in the diabetic patient pool, and increasing number of awareness programs, insulin antidiabetics market is expected to cross a valuation of USD 75 billion by 2023, with a CAGR projection of around 13.2% over 2016-2023.

Long acting analog insulin antidiabetics industry is expected to cross USD 40.9 billion by 2023, subject to the product popularity and the rapidly rising diabetic cases across the globe. Other products including DPP-4 inhibitors, GLP-1, and biguanides are projected to witness a growth rate of 7.2% over 2016-2023.

Regulatory and governmental bodies across the globe have been striving to increase public awareness regarding diabetes. For instance, the National Institute of Diabetes and Digestive and Kidney Diseases has undertaken several education campaigns such as ‘Small Steps, Big Rewards’, ‘Control your Diabetes for Life’, etc., to increase the importance of diabetic screening, diagnosis, and treatment, which will most certainly carve out a lucrative growth path for global antidiabetics market over the years ahead. Not far behind in the list of organizations is the American Diabetes Association, that has also launched several awareness programs regarding diabetes. In addition, the International Diabetes Federation, along with its member associations celebrate the 14th of November as ‘World Diabetes Day’, utilizing the 24-hour span to initiate awareness campaigns and other related programs. With a strong regulatory framework and governmental support, global antidiabetics industry will chart a profitable growth curve over the coming seven years.

Author Name : Saipriya Iyer

Plant-based waters market to witness an intensely competitive landscape, coconut water to be a major contender in the product spectrum

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Plant-based waters market valuation is poised to witness a commendable surge in the years ahead, driven by the paradigm shift in the lifestyles of the global population. With the depreciating usage of carbonated drinks pertaining to the risk factors associated with them, the plant-based waters industry has witnessed a tremendous demand over the recent years. As per the estimates, the global valuation of the Plant-Based Waters Market in 2016 was approximately USD 2.5 billion. These low-calorie drinks derived from the plants are deemed to address the numerous health concerns of the consumers such as obesity, diabetes, cardiac ailments, etc. Driven by the associated health benefits, the plant-based beverages have witnessed an appreciable degree of adoption and have served as a sustainable alternative to the routine drinks.

U.S. Plant-based Waters Market Size, By Product, 2013 – 2024 (USD Billion)
U.S. Plant-based Waters Market Size, By Product, 2013 - 2024 (USD Billion)

The coconut water amasses the major chunk of the plant-based waters market pertaining to the volume as well as the revenue. As per the estimates, this segment dominated the overall plant-based waters product landscape in 2016 and is slated to register phenomenal growth over the coming timeframe. The prospective commercialization of the coconut water market is quite evident from the active participation by the industry players to exploit this business space. Earlier this year, one such instance demonstrating the massive potential of this industry was the announcement by PepsiCo, where it declared its plan to acquire All Market Inc., the owner of coconut water brand dubbed Vita Coco. The deal would leverage PepsiCo with a strong position in the overall plant-based waters industry.

This acquisition would also establish a strong battleground for the two world’s biggest soda companies – PepsiCo and The Coca-Cola Company. The latter had acquired Zico coconut water brand in 2013 and has a rather strong foothold in the overall plant-based waters market. However, if the deal of PepsiCo acquiring All Market Inc. materializes, the overall plant-based waters market would witness a fiercely competitive landscape in the years ahead.

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Asia Pacific is gaining a major traction pertaining to the commercialization of the plant-based waters market. The market participants are vigorously exploiting the APAC belt to explore the plethora of untapped opportunities in this region. The region is one of the top repositories of coconut, which still falls in the unbranded and unorganized category.

However, in addition to the regional penetration, the distribution network of the industry players will also be a major parameter defining their profitability margins. Along these lines, the online distribution channels are witnessing a swift growth in this business space, owing to the easy product availability and enhanced marketing approach of these channels. The players are increasing their tie-ups with these online platforms to enable an effective distribution model. The retail stores are the second largest distribution channels and are estimated to register the highest CAGR of 23% over the period of 2017-2024. The diversified product landscape of the plant-based waters industry will drive the retail distribution channel adoption in the coming timeframe.

Speaking of the broader product portfolio, the plant-based waters industry is also gaining a remarkable share from the rising sales of Birch and Maple water. These products are still in the nascent stage but the pace at which they are penetrating the U.S. and U.K. markets is indeed appreciable. North America plant-based waters market is projected to witness significant gains from the increasing sales of maple water and the increasing packaged water consumption. Birch, having an ample availability in Europe, will substantially drive the regional plant-based waters industry.

The industry might face growth restraints pertaining to the shorter shelf life and the complex supply chain model of the relevant products. However, the innovations in the packaging industry are addressing these durability issues at a rather quick pace.

In the years ahead, the industry is estimated to witness a broader product portfolio with the incorporation of new flavors. Global penetration, brand recognition, and effective distribution channels are some of the major parameters characterizing the profitability landscape. With this diversified product spectrum and a plethora of potential untapped opportunities, the global plant-based waters market is forecast to exceed a valuation of USD 10 billion by 2024.

Author Name : Shikha Sinha