Growing Trend of Eating Out Driving Demand for Frozen Bakery Items

The fact that the phrase ‘breaking bread’ is used to describe a meal tells how important this humble baked product is for humans. Whether they are those that puff up when baked or unleavened, flat ones, breads are the primary source of carbohydrates, the main energy-giving foods, around the world. However, all such edible items are perishable and have a rather short best-before date, typically of 2–3 days from the day of manufacturing/cooking. Therefore, to increase their shelf life, they are now being deep-frozen.

This is why P&S Intelligence predicts significant growth for the frozen bakery market in the coming years. Freezing such products at between –18 to –40 degrees Celsius stops the growth of mold, thereby preventing them from spoilage and raising their shelf life to up to 12 months! Moreover, deep-freezing helps maintain the nutrient content of bakery products for longer. Hence, with people becoming aware of a healthy life and focusing increasingly on improving their diet, the demand for frozen bakery items is rising.

Frozen Bakery Market Outlook

Developed regions, such as Europe and North America, are still the larger frozen bakery markets because of the lifestyle here that is becoming increasingly busy, especially in major cities. Additionally, with the easy and convenient availability of food at restaurants and other food service settings, the trend of cooking at home is diminishing. For instance, as per the Bureau of Labor Statistics, almost half the food budget of the people of the U.S. is spent on eating out. Similarly, as per another study, only 10% Americans love cooking at home.

Many of the cheap restaurants keep frozen food items, which they simply put in a microwave or pan before being eaten. Anyone who has seen Kitchen Nightmares hosted by Gordon Ramsay knows this. And, since not everyone is well-versed in baking from scratch, frozen bakery items go a long way in feeding hungry mouths without much ado. As a result of the growing demand for such eatables, companies, including Associated British Foods, DuPont, Archer Daniels Midland Company, Palsgaard, Puratos Group, Sensient Technologies Corporation, ConAgra Foods Inc., Kellogg Co., David Michael & Co., Kerry Group, and Lonza Group Ltd., are offering new types of frozen bakery products.

Hence, with a shift in people’s food habits, the demand for frozen bakery items will rise further.

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Growing GHG Emission Concerns Propelling Electric Car Production

According to the International Energy Agency (IEA), 2.3 million electric cars were sold across the world, in 2020. High volume sales of electric vehicles (EVs) can be attributed to the stringent government emission norms, on account of the rising environmental pollution concerns. Over the last decade, greenhouse gas (GHG) levels have significantly surged due to the vast number of fossil fuel-based automobiles operating on global roads. To mitigate the adverse effects of GHGs, governments across the world are supporting the production and adoption of such cars within their territories.

Moreover, the rising consolidation and surging number of joint ventures among the leading electric car manufacturers will fuel the electric car market at a CAGR of 33.6% during 2017–2023. The market sold 0.8 million units in 2016 and it is projected to sell 5.3 million units by 2023. Manufacturers are collaborating with each other to develop novel technologies to create more advanced electric cars that cater to the surging needs of customers. For example, in September 2017, Mahindra & Mahindra Ltd. allied with Ford Motor Co. to develop and produce EVs and connected vehicle technology for 3 years. 

Electric Car Market Outlook - P&S Intelligence

According to P&S Intelligence, APAC records the highest sales of electric cars, due to the huge government support in terms of incentives and subsidies on such vehicles and implementation of stringent vehicular emission norms in Japan and China. For instance, according to the China Association of Automobile Manufacturers (CAAM), the sales of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) passenger cars increased from 155,000 in October 2020 to 186,000 in November 2020.

Whereas, the European electric car market is expected to register the highest sales rate in the coming years, due to the increasing adoption of such new energy vehicles in the U.K., Norway, and Germany. According to the European Federation for Transport and Environment, 507,000 new PHEV electric cars were sold in the 27 member nations of the European Union in 2020. In the same year, one out of eight cars purchased in Germany was an EV. As per this organization, Renault Zoe, Volkswagen ID, and Tesla Model 3 were the most commonly procured BEVs in the EU countries.

Thus, the rising government initiatives toward promoting EV sales and manufacturing and increasing collaborations among OEMs will augment the adoption of electric cars in the foreseeable future. 

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How Is Polyethylene Glycol Market Driven by Growing Pharmaceutical Sector?

The polyethylene glycol market is primarily witnessing growth on account of the rising usage of this chemical as a specialty solvent and surface-active agent in toothpaste, lotions, creams, shampoos, lipsticks, soaps, deodorants, bath oils, detergents, and conditioners. Moreover, due to the importance of the compound in the medical device, automobile, paper and ceramics, paint and coating, and construction sectors, its sales already generated ~$4.5 billion revenue in 2020, which is set to increase massively during 2021–2030 (forecast period).

The grade segment of the market is categorized into PEG 6000, PEG 4000, PEG 3350, PEG 400 FCC Grade, PEG 400, PEG 300, and PEG 200. Among these, the PEG 400 category dominated the market for PEG in 2020, and it is set to advance significantly during the forecast period. PEG 400 has a low molecular weight and toxicity, which makes it useful in numerous applications. Moreover, this grade’s hydrophilic nature allows for its usage in drugs to improve the bioavailability and solubility of drug molecules that are weakly soluble in water.

On the basis of application, the polyethylene glycol market is divided into medical, industrial, construction & infrastructure, and personal care. During the historical period (2015–2020), the largest share, in terms of volume and value, was held by the medical category due to the wide usage of PEG in drugs as an excipient (inactive agent). Some of the most-common medicines have this ingredient, such as acetaminophen, cetirizine, diclofenac, ibuprofen, and tramadol. Moreover, PEG 3350 is used to treat constipation, by helping in the retention of water in the stool.

The polyethylene glycol market garnered the highest revenue from the Asia-Pacific (APAC) region in 2020 because of the region’s vast and growing pharmaceutical industry. India is one of the largest exporters of medical drugs, which keeps the demand for PEG and other raw materials high here. Moreover, PEG is an important raw material in the automotive and construction chemical sectors, which are also witnessing rapid growth in APAC. China and India are already two of the largest construction and automotive markets globally, and their booming population is giving a further boost to these industries. 

Therefore, the market will continue to grow with the rising demand for pharmaceutical products across the globe.

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Customer Preference Increasing for Beauty Devices over Surgical Treatments

 The World Psoriasis Day Consortium estimates that nearly 125 million people across the world are currently affected by psoriasis. Furthermore, the National Eczema Association states that approximately 9.6 million children under the age of 18 years and 16.5 million adults in the U.S. are living with atopic dermatitis. Moreover, an article on the National Center for Biotechnology Information (NCBI) states that melasma is found in 15%–50% of the pregnant women worldwide. Thus, the surging incidence of skin ailments, such as psoriasis, melasma, atopic dermatitis, and acne, is creating a huge requirement for beauty devices.

Access Report Summary - Beauty Devices Market Segmentation Analysis

In addition, the increasing public awareness regarding the safety profile and benefits of energy-based aesthetic devices, primarily laser ones, will accelerate the beauty devices market at a healthy CAGR of 20.6% during 2021–2030. According to P&S Intelligence, the market was valued at $50,814.4 million in 2020, and it is projected to generate $311,039.3 million revenue by 2030. As compared to surgical treatments, energy-based aesthetic devices are minimally invasive, have fewer side-effects, and offer quicker recovery and less discomfort.

Currently, beauty device manufacturers are engaging in partnerships and facility expansions to offer their products to a greater number of customers. For instance, in August 2020, Shiseido Cosmetics partnered with YA-MAN Ltd. to develop and produce anti-aging devices in Japan. Other companies following these steps are Panasonic Corporation, Conair Corporation, Candela Corporation, L'Oréal SA, Lumenis Ltd., Spectrum Brands Holdings Inc., Carol Cole Company Inc., Nu Skin Enterprises Inc., LightStim, Home Skinovations Ltd., and MTG Co. Ltd.

Geographically, North America led the beauty devices market in the preceding years due to the high disposable income of people in the U.S. and Canada. Additionally, the rising incidence of skin diseases and surging appearance consciousness among customers will augment the usage of these devices in the region. For instance, the American Academy of Dermatology (AAD) estimates that approximately 50 million, 7.5 million, and 16 million Americans are affected by acne, psoriasis, and rosacea, respectively, every year.

Whereas, the Asia-Pacific (APAC) region is expected to utilize these devices at the highest rate in the forthcoming years. This can be ascribed to the mounting public awareness on them and rising geriatric population in the region. The United Nations Population Fund (UNFPA) forecasts that the population of people aged 60 years and more in APAC will reach around 1.3 billion by 2050. Moreover, the increasing availability of affordable beauty products and devices by leading brands is encouraging their adoption.

Therefore, the rising incidence of skin ailments and growing customer awareness on beauty devices are accelerating their usage, especially those that use different forms of energy.

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Increasing Pollution Levels Bolstering Sales of Surgical, Face, and Respiratory Masks

Due to the rising air pollution levels, the demand for surgical, face, and respiratory masks is growing explosively across the world. The increasing industrialization and urbanization is fueling the emission of pollutants from factories and vehicles. According to the findings of the Health Effects Institute and the Institute for Health Metrics and Evaluation (IHME), 4.1 million people lost their lives because of high PM2.5 levels in 2016. 

Browse detailed report - Surgical, Face, and Respiratory Mask Market Revenue Estimation and Growth Forecast

Moreover, with the growing incidence of heart diseases, stroke, chronic lung diseases, respiratory infections, and lung cancer, the sales of face masks are rising sharply across the world. Besides these factors, the surging population of geriatric people and the increasing number of surgical procedures are also propelling the sales of surgical, face, and respiratory masks across the globe. This is, in turn, driving the advancement of the global surgical, face, and respiratory mask market.

This will be because of the increasing prevalence of airborne disease and the rising requirement for surgical procedures around the world. Because of the ongoing COVID-19 pandemic, the demand for such masks is exploding, as these masks are being extensively used by people and healthcare practitioners for minimizing the spread of the infection. Individuals, hospitals, clinics, and ambulatory surgery centers (ASCs) are the major end users of respiratory, surgical, and face masks across the world.

Out of these, the usage of these masks is predicted to be the highest in hospitals in the coming years, on account of the fact that nearly all medical practitioners working at hospitals are wearing masks, because of the presence of strict regulations regarding the wearing of masks at hospitals. These masks are sold via direct and indirect channels. Between these, the sales of these masks via indirect channels are predicted to be higher in the coming years.

Hence, it can be said with full confidence that the demand for surgical, respiratory, and face masks will soar all over the world in the future years, mainly because of the rising prevalence of airborne and lung diseases and the increasing implementation of strict regulations regarding mask usage at healthcare settings across the world. 

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Why Has Antimicrobial Coatings Market Witnessed Positive Impact of COVID-19?

The antimicrobial coatings market is being propelled by the increasing awareness on proper hygiene and safety, stringent regulations being implemented in this regard, and surging consumption of such materials in a range of industries and applications. Additionally, with time, doctors have come to prefer these products over disinfectants because coatings prevent the sticking of microbes on the surface of medical devices, thus helping prevent hospital-acquired infections (HAIs). As a result, the market stood at $3.6 billion in 2020, and it will grow significantly during 2021–2030 (forecast period).

Medical & healthcare, building & construction, food & beverage, heating ventilation, and air conditioning (HVAC) system, transportation, and protective clothing are the categories of the application segment. Among these, the medical & healthcare category dominated the market during the historical period (2015–2020) due to the increasing prevalence of HAIs. As per the Centers for Disease Control and Prevention (CDC), every day, among every 25 hospital patients in the U.S., at least one contracts an HAI. Thus, the hygiene and safety regulations implemented for healthcare settings are becoming stricter, thereby driving the market.

Research activities to come up with better materials are the key antimicrobial coatings market trend. Such activities have especially picked up during the ongoing coronavirus pandemic, during which the market players are making concrete efforts to come up with antimicrobial coatings that can damage the cell structure of the virus, to kill them. For instance, the Nerolac Excel Virus Guard emulsion paint, developed with the Japanese Shiquy Technology, has shown effectiveness in reducing microbial growth on walls significantly.

North America has been the largest antimicrobial coatings market till now, mainly because of the favorable government initiatives. For instance, the construction of hospitals and other medical settings in the U.S. is encouraged under the Affordable Healthcare Act, which is propelling the consumption of such anti-infective agents. Moreover, due to the strict government regulations, manufacturers of HVAC systems are using such coatings in their products, especially now, during the raging COVID-19 pandemic.

Therefore, with the surging public awareness on infection prevention, currently and long after the pandemic has ended, the market will witness continuous growth.

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Why Is North America Leading 3D Printing High-Performance Plastics Market?

Factors such as the escalating demand for mass customization of products and increasing applications of 3D printing technology in the automotive, defense, aerospace, and aviation industries will facilitate the 3D printing high-performance plastics market growth during the forecast period (2021–2030). According to P&S Intelligence, the market revenue reached around $73.5 million in 2020. In recent years, increasing shift of manufacturers from traditional production methods to 3D printing, due to the zero-material wastage, more customizability, and cost-effectiveness offered by this technology, has become a major market trend.

One of the key catalysts for the market growth is the widening application base of 3D printing high-performance plastics in the aerospace industry. The rising production of aircraft components, primarily on account of the mushrooming demand for aircraft to ferry more cargo and passengers. 3D printing technology is an effective method of producing aircraft parts, as it uses filaments, which help in reducing the weight of the manufactured products. Furthermore, the usage of filaments also assists in enhancing strength and designing and creating complex structures for aircraft components. 

Currently, players operating in the 3D printing high-performance plastics market are engaging in partnerships to gain a significant position. For instance, in March 2021, Stratasys Ltd. partnered with Xometry to offer a wide range of high-performance nylon materials to end users. With this partnership, the customer base of Xometry, which includes Fortune 100 companies and startups, got access to the selective laser sintering (SLS) 3D printing technology of Stratasys Ltd. Other companies focusing on improving their presence through partnerships include Saudi Basic Industries Corporation (SABIC), EOS GmbH Electro Optical Systems, Solvay, and Victrex plc.

Geographically, North America held the largest share in the 3D printing high-performance plastics market in 2020, and it is expected to maintain its dominance throughout the forecast period as well. This can be ascribed to the increasing investments being made in the research and development (R&D) of 3D printing materials, on account of the escalating focus on technological advancements. Moreover, the expanding manufacturing base of the robotics, aerospace, medical prostheses, and automobile industries in the region will also catalyze the market growth in the forthcoming years. 

Thus, the increasing demand for aircraft and automobiles will supplement the market growth in the foreseeable future.

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