Huge demand for Luxury Apparels Market Projected to Reach $81.23 Billion, Globally, by 2023

According to a new report published by Allied Market Research, titled, Luxury Apparels Market by Material, Gender, and Mode of Sale: Global Opportunity Analysis and Industry Forecast, 2017-2023,the luxury apparels market size was valued at $62.62 billion in 2016, and is projected to reach $81.23 billion by 2023, growing at a CAGR of 3.9% from 2017 to 2023. Cotton, one of the widely-worn materials, dominated the global market and is expected to maintain this trend till 2023. However, Asia-Pacific is expected to dominate the market throughout the forecast period due to rapid increase in urbanization and rise in disposable income.

Growth in online mode of sale, rapid urbanization, and change in lifestyle, owing to increased disposable income of the consumers, drive the luxury apparels market growth. In addition, growth in the emerging economies, such as Asia-Pacific and LAMEA, is anticipated to create lucrative opportunities for the global luxury apparels market. However, high cost of raw materials hampers the luxury apparels market growth.

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Leather is the second highest growing material in luxury apparels market during the forecast period, and is expected to exhibit a growth of 4.6% by 2023. Fashion-conscious consumers are getting increasingly sensible of the environment and thus, prefer eco-friendly apparel fabric products, which further promotes harmless and non-toxic production method of leather. Moreover, some of the consumers from BRICS (Brazil, Russia, India, China, and South Africa) are ready to pay higher prices for environmental-friendly fabric in which toxic and harmful dyes are not included. Some of the manufacturers in luxury apparels market, such as LVMH Moet Hennessy Louis Vuitton SA, Coach, Inc., Kering SA, Prada S.p.A, and Hermes International SCA, are involved innovating leather apparels and other goods using eco-friendly fabric material, thereby reducing the emission of pollutants and conserving the environment.

The market for denim is expected to drive with strong growth of denim production in Asia-Pacific, such as India, China, Pakistan, and others. The availability of cheap labor in Asia-Pacific is expected to contribute toward excess denim production, thereby supplementing the luxury denim market growth. In addition, advances in the denim industry have attracted customer base. For instance, the initiation of Lycra hybrid technology in the industry has gained popularity due to its super stretch properties. The blend of Lycra with denim has made denim more stretchable than the conventional stuff allowing customers to choose from a variety of options.

Denim is the most worn fabric apparel among global consumers and offers a wide range of products than other materials. Apparels, such as denim jackets, jeans, dresses, shirts, shorts, skirts, and tops, are some of the popular and preferred denim apparels used as regular wear. Moreover, unique weaving pattern of raw denim showcase it as a luxury apparel.

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Online sales in luxury apparels industry are expected to grow at the highest rate by 2023. E-commerce sales have gained popularity from the past years as online shopping offers a platform for easy shopping to the large customer base. The consumers are well informed about the garments fabric, size, and color code from the pictures and photos posted on the companys website or an e-commerce site. It has been observed that small-town customers have been contributing to the online sales due to lack of accessibility of authentic luxury apparels in the nearby stores, creating lucrative opportunities for the manufacturers to widen their regional base.

Europe accounted for the highest market share in luxury apparels market in 2016, and is expected to maintain its lead throughout the forecast period, owing to majority of the top luxury apparels manufacturers headquartered in UK, Italy, France, and Switzerland. LAMEA exhibited significant growth, owing to improvement in the purchasing parity, better standard of living, and availability of wide options.

Key Findings of the Luxury Apparels Market:

• In 2016, cotton material accounted for the maximum market revenue, and is projected to grow at a CAGR of 3.1 % during the forecast period.
• E-commerce sales are expected to grow at a significant CAGR of 5.6%, as it is a convenient way of shopping.
• The female consumers segment accounted for more than half of the global luxury apparels market in 2016.
• China is the major shareholder in the Asia-Pacific luxury apparels industry, and accounted for around 42.4% share in 2016.

The key players in luxury apparels market focus to expand their business operations in the emerging countries by adopting various strategies, such as acquisition and contact/agreement. The major players profiled in this report include Ralph Lauren Corporation, Christian Dior, Michael Kors, Coach, Inc., Gianni Versace S.P.A., Girogio Armani S.P.A., Nike, Inc., Hermes International, Inc., Tommy Hilfiger USA Inc., and Burberry Group, Inc.

Household Vacuum Cleaners Market is Expected to Garner $16,657 Million, Globally, by 2022

Household Vacuum Cleaners Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $16,657 million by 2022. Upright vacuum cleaners segment is estimated to dominate this market during the analysis period. Asia-Pacific accounted for more than one-third of the market in 2015 and would maintain its dominance throughout the forecast period.

Growth in urban population in developing nations, improved infrastructural facilities, and rise in awareness towards cleanliness and hygiene worldwide, are factors that drive the market. Cost-effectiveness, safety, efficiency, high accessibility to corner & small areas, and automation in household cleaning has resulted in increased demand for vacuum cleaners. In addition, improvement in living standards, rise in disposable income, increase in working population, coupled with high purchasing power, and ease of operations in vacuum cleaners are anticipated to further drive the demand for household vacuum cleaners globally. However, unawareness, high energy consumption in conventional type of vacuum cleaners, and high prices of robotic cleaners limit the market growth.

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Canister household vacuum cleaners segment accounted for about one-fourth of global household vacuum cleaners market in 2015, as these are the most commonly used vacuum cleaners for household cleaning, due to their high suction power and easy accessibility. In addition, robotic household vacuum cleaners segment is the fastest growing segment, and is projected to account for over 20% of the overall market by 2022, owing to their various advanced features such as automated GPS system, self-charging, navigation sensors, and self-adjusting cleaning head.

The world household vacuum cleaners market is anticipated to witness steady demand during the forecast period on account of growing working population and rising consumer expenditure across the globe. Moreover, individuals are inclined towards technologically advanced products such as robotic vacuum cleaners due to their automatic operation & significant reduction in time, which would further fuel the demand.

Upright household vacuum cleaners segment is estimated to continue to dominate the overall household vacuum cleaners market, owing to their comparatively small size, high suction power, and large cleaning surface area. Wet/dry and drum vacuum cleaners are projected to exhibit moderate growth during the forecast period.

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Offline mode of sale segment is projected to maintain its lead, due to benefits such as overall product experience, in-depth knowledge of product & specifications, and reduced shipping time features. The growing demand of online retail shops in the developed & developing economies of North America, Europe, and Asia further boosted the market growth.

Asia Pacific accounted for the majority of revenue in 2015, owing to the increased adoption of automated cleaning solutions in metro cities, increased awareness about health & hygiene, rise in popularity of robotics & drum household vacuum cleaners, and growth in disposable incomes. Moreover, government initiatives such as Swach Bharat Abhiyan and rapid urbanization in countries such as India, Malaysia, and South Korea are expected to further boost the demand for vacuum cleaners in this region.

Stiff government regulations in Europe regarding energy efficiency by the EU and decrease in lifespan of products are anticipated to facilitate the demand for stick, handheld, and robotic vacuum cleaners in the European region. Low product differentiation and presence of significant number of small and large market players have resulted in price reduction of these products.

Geographically, Asia-Pacific region is expected to maintain its leading position, followed by Europe. Asia-Pacific on account of significant demand from countries such as China, Australia, Japan, South Korea, India, and other South Asian countries, is expected to pose lucrative opportunities for the market players. Moreover, in North America and LAMEA regions, the growth momentum would continue as a result of favorable economic conditions and growing awareness.

Key Findings of Household Vacuum Cleaners Market Study:

• In the year 2015, upright vacuum cleaners led the overall household vacuum cleaners market revenue, and is projected to grow at a CAGR of 2.7%.
• Robotic vacuum cleaners are expected to gain a significant market share over the forecast period, owing to their automotive GPS operations and increased demand in household segment due to its ease of access.
• Others vacuum cleaners segment is projected to grow at a CAGR of 4.9%. The offline mode of sale is projected to generate the highest revenue in the mode of sale segment.
• Asia-Pacific generated the highest revenue, among all regions in 2015, owing to rising female working population & growing demand for programmed products.
• China is the major shareholder, accounting for about one-third share of the Asia-Pacific household vacuum cleaners market.

The key players in the household vacuum cleaners market focus on expanding their business operations in the fast-growing emerging countries with new product launch as their preferred strategy. The major players profiled in this report include AB Electrolux, Haier Group Corp., LG Electroncis, Inc., Miele & Cie. KG, Samsung Electronics Co., Ltd., Dyson Ltd., Bissell Inc., iRobot Corporation, Panasonic Corporation, and Koninklijke Philips N.V.

Food Robotics Market will Hit $3,612 Million, Globally, by 2023, growing at a CAGR of 13.0%

According to a new report published by Allied Market Research titled, "Food Robotics Market by Type, Payload and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023," the food robotics market was valued at $1,535 million in 2016 and is projected to reach $3,612 million by 2023, growing at a CAGR of 13.0% from 2017 to 2023. Asia-Pacific is one of the prominent customers of food robotics and held more than three-fifths of the total market share in 2016.

Technological advancement across various industries widens the application horizon of robotics. Major applications of robotics is automotive, electrical and electronics, metal, chemical and plastics, and food. Robotics are being adopted in the food & beverage industry in the recent few years. This is mainly attributed to the advantages offered by these robots such as high speed of productivity, better cleanliness and hygiene, more flexibility, and others.

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Increase in the food safety regulations is anticipated to drive the demand for food robotics in the near future. In addition, employee safety rules is expected to replace manual labors with industrial robots. These robots have added advantage that, they can perform multiple tasks at the same time, thus giving more and improved productivity. The changes in lifestyle of people results in surge in demand for packaged and ready-to-eat food products. This in turn, is anticipated to boost the demand for food robotics during the analysis period.

An increase in demand for food robotics services in Asia-Pacific and LAMEA is expected in the near future, owing to the augment in industrialization and high degree of implementation of automation in this region. Reducing the operating costs and labor cost is anticipated to boost the demand for robotics in food & beverage industry.

Articulated segment is expected to maintain dominance in the global food robotics market during the forecast period. However, scara are anticipated to gain traction in the near future. Increase in demand for automation in food & beverage industry is anticipated to drive the growth of this segment in the near future. In 2016, articulated and scara collectively accounted for approximately three-fifths share in the global food robotics market.

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Medium payload food robotics accounted for lions share in the global food robotics market in 2016 and is anticipated to remain dominant during the forecast period. These robots offer high flexibility and better process control to cater to the changing manufacturing needs in this industry.

Palletizing application segment is anticipated to remain dominant in the global food robotics market during the analysis period. In 2016, palletizing and processing application segments collectively accounted for approximately half share in the global food robotics market. Processing application segment is anticipated to expand at the highest CAGR during the forecast period, owing to increase in demand in meat processing industry.

Key Findings of the Food Robotics Market:

• In terms of value, the articulated segment is expected to grow at a CAGR of 12.5% during the forecast period.
• Asia-Pacific is projected to maintain its lead position throughout 2023, growing at a CAGR of 15.1%, in terms of value. LAMEA is anticipated to witness the highest growth during the forecast period.
• Palletizing application segment is estimated to occupy more than two-fifths share of the total market in 2016.
• China is expected to occupy more than one-third of the total Asia-Pacific food robotics market by 2023.
• In the global food robotics market, India is expected to grow at a CAGR of 20.8%, in terms of value, from 2017 to 2023.

In 2016, Asia-Pacific accounted for approximately three-fifths share of the total food robotics market and are expected to continue to be dominant during the forecast period. The Asia-Pacific food robotics market is anticipated to grow at a significant CAGR, specifically in China, India, and the other developing countries. Rise in food & beverage sector and increase in demand for packaged food is the major reason for the growth of the market in Asia-Pacific.

The key players profiled in the report are Mitsubishi Electric Corporation, ABB Group, Rockwell Automation Incorporated, Kawasaki Heavy Industries Ltd., Kuka AG, Fanuc Corporation, Yaskawa Electric Corporation, Seiko Epson Corporation, Staubli International AG, and Universal Robotics A/S.

Growing demand for Online Travel Market to reach $1,091 Billion, Globally, by 2022

Online Travel Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $1,091 billion by 2022, registering a CAGR of 11.1% during the period 2016-2022. Asia-Pacific is expected to witness the highest growth during the forecast period. Direct travel suppliers, such as hotels, airlines and car rental companies, which offer booking facilities on their websites, dominate the market, whereas Online Travel Agencies (OTAs) would witness higher growth over the next 5 - 6 years.

Growth of the online travel market is driven by the increase in internet penetration, rise in disposable income of people in emerging markets, and ease of comparing a variety of travel options online. Market players are introducing innovative travel and vacation package deals to assist travelers in making sound travel decisions as per their spending capability, such as affordable packages for international destination, discounts on car rentals and cash back on international flights.

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Direct travel suppliers segment accounted for approximately 57% of the overall online travel market revenue in 2015.Though, the segment would continue to dominate the market over the analysis period, a gradual reduction in its market share is expected, owing to the growing popularity of online travel agencies (OTAs). OTAs are expanding their offerings at a rapid rate to attract travelers and increase their customer base.

The travel market has evolved considerably over the past few years, owing to digitalization of travel services and the growing travelling trend, worldwide. The proliferation of mobile devices largely supplements the growth of this market. The market is witnessing consolidation, with leading OTAs acquiring the start-ups and other smaller players, thereby, giving a tough competition to the established direct travel suppliers and travel agents 

Based on booking platforms, the market is segmented into mobile and desktop. Mobile platform attributes to two-sevenths of the market revenue and is anticipated to witnesshighest growth in coming years. This is attributed to increased penetration of smartphones and growing confidence of people in safety of mobile payments.

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Transportation segment is projected to maintain its lead in the overall online travel services market, owing to rise in online flight bookings. Expansion in the number of low-cost carriers and growth in the number of connecting flights for tier I and II cities across the globe, drive the growth of flight bookings. In addition, online rail bookings witnessed a significant growth in the past few years. Expedia, a leading online travel agency, has announced its plans to launch a rail ticketing service in Europe by end of 2016, to mark its presence in the rail services within the transportation segment.

The online travel market is segmented on the basis of age group, wherein the travelers in the age group of 32 - 43 years, occupy a major portion of the market. However, from a growth perspective, the young travelers within the age group of 2231 years, would witness the highest CAGR, due to extensive use of social media and smartphones for travel planning and bookings.

North America accounted for the majority revenue in 2015; however, Asia-Pacific is estimated to overtake North America in coming years to become the leading revenue-generating region. This is attributed to growing disposable income, growth inmiddle-class segment, increased penetration of Internet facilities, and increase in the number of youth population in emerging markets of Asia-Pacific.

Key Findings

• Growing exposure to multimedia phones and increased penetration of online services would accelerate the growth of the overall online travel market.
• India is estimated to be the fastest growing country in Asia-Pacific, growing at a CAGR of 18.5% during the forecast period.
• Travelers within the age group of 22 and 31 years are more inclined towards online travel services, as they are more tech savvy and are constantly connected to social media.
• Flights and hotel bookings are anticipated to grow at an unprecedented rate.

Key players profiled in this report are Expedia, Inc., Priceline Group Inc., TripAdvisor Inc., Ctrip.com International, Ltd., Hostelworld Group, Hotel Urbano Travel and Tourism SA, Fareportal, Inc., Trivago GmbH, ThomasCook Group, and MakeMyTrip Limited.

Managed Security Services Market Revenue Projected to Reach $40.97 Billion by 2022

The managed security services market focuses on various applications which include managed IPS/IDS, DDoS, UTM, firewall management, endpoint security, and others. IPS/IDS constitute the highest market share as the they provide protection to any sized networks. The combined package of IDS and IPS solution provides the features of both solutions in single package. Nonetheless, Endpoint security application is witnessing growth with the rise in application of mobile devices to access corporate network.

Generally, managed security services are delivered in two basic modelson-premise or customers premise equipment and cloud-based managed security service model. The on-premise or customers premise equipment constitute the highest market share and is preferred in cases when organization/companies are concerned about security of sensitive information over cloud.

Based on organization size, the report covers businesses under two main groups such as large businesses and small- & medium-sized businesses. Financial loss incurred due to data theft and network damage affects both large businesses as well as small- & medium-sized businesses. Thus, small- & medium-sized businesses also have a significant share in revenue generation.

The global market is expected to garner $40.97 billion by 2022, registering a CAGR of 16.6% during the period 2016-2022. North America is expected be the largest market for managed security services during the forecast period owing to the growing awareness about the information security among businesses.

Based on organization size, the report covers businesses under two main groups such as large businesses and small- & medium-sized businesses. Financial loss incurred due to data theft and network damage affects both large businesses as well as small- & medium-sized businesses. Thus, small- & medium-sized businesses also have a significant share in revenue generation.

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North America currently constitutes the highest market share in theManaged security services market during the forecast period. However, the Asia-Pacific region would witness the highest CAGR of 20.3% during the forecast period. A growth in security awareness and emphasis to maintain the brand image would contribute to the increasing demand for managed security services from various industry verticals.

The managed security services market comprises dominant players such as IBM Corp., HP, Dell SecureWorks, Cisco Systems Inc., Symantec, AT&T, BT Group, Verizon, and others. These market players primarily focus on the development of new features, launch of innovative products with exceptional variations, and adoption of R&D and acquisition as their key strategies to establish their position in the market.

Confectionery Market Estimated to Reach $232,085 Million, Globally, by 2022 - Says Allied Market Research

Confectionery Market Report, published by Allied Market Research, forecasts that the global market was valued at $184,056 million in 2015, and is expected to reach $232,085 million by 2022, supported by a CAGR of 3.4% during the forecast period 2016 - 2022. The chocolate confectionery segment dominated the market in 2015 with more than one-third revenue share.

Confectionery industry manufactures wide variety of food products that contain high sugar content such as candies, chocolates, caramels, gums, and cookies. Product innovation, rise in gifting trend, retail market expansion, and strong marketing campaigns are major factors that drive the growth of the global confectionery market. In addition, economic growth and rise in disposable income of emerging economies supplement the market growth, thus increasing the purchasing power of customers. Sucrose, cocoa products, flours, sugar, and food additives are some of the raw materials utilized in confectionery production. Manufacturers are increasing their product range by including organic herbal fillings, exotic flavors, and functional ingredients in their product formulations to cater to the changing consumer demands. International Organization for Standardization (ISO), Canadian Food Inspection Agency (CFIA), Food and Drug Administration (FDA), Health Canada, World Health Organization (WHO), and European Union (EU) are some of the regulatory authorities present in the confectionery market.

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Growth in health awareness and fluctuation in cost & availability of raw materials such as cocoa products are some of the factors that hinder the growth of the confectionery market. However, rise in demand for sugar-free, low-calorie, and organic products boosts the market expansion.

Based on type, the market is segmented into sugar, chocolate, fine bakery wares, and others. Others include gums, snack products, brand ice creams, and raw pastes. In 2015, chocolate confectionery showed the highest growth rate, accounting for more than one-third of the market, in terms of revenue, owing to innovation and product quality. Introduction of organic ingredients, alcohol flavors, nuts such as hazelnut, and unusual fruits such as raspberry in chocolate confections increased the demand for different flavors among customers, thus fueling the chocolate confectionery market growth.

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Key Findings of Confectionery Market :

• Europe is expected to continue to lead the market during the forecast period, followed by Asia-Pacific region.
• Dark chocolate is expected to show highest growth rate in chocolate confectionery market, registering a CAGR of 4.3%.
• Mints is projected to significant growth, registering a CAGR of 3.6%.
• Brazil accounted for 35.27% share in the LAMEA confectionery market in 2015.
• India is expected to grow at a faster rate, registering a CAGR of 4.6%.
• Italy accounted for 7.33% share in 2015.

Europe and Asia-Pacific collectively contributed more than half of the share to the global confectionery market revenue in 2015. In the same year, Europe dominated the market, owing to the product innovation in terms of textures, flavors, shapes, and pack sizes.

The prominent market players profiled in the report include Delfi Limited (Singapore), Ezaki Glico Co., Ltd. (Japan), Ferrero SpA (Italy), Lindt & Sprngli AG (Switzerland), Lotte Confectionery Co. Ltd. (South Korea), Mars, Incorporated (U.S.), Mondelez International, Inc. (U.S.), Nestl S.A. (Switzerland), The Hershey Company (U.S.), and Wm. Wrigley Jr. Company (U.S.).

Nutraceuticals Market Worth $302,306 Million by 2022, At a CAGR of 7.04% from 2016 to 2022

Nutraceuticals market report published by Allied Market Research, forecasts that the global market is expected to be $184,092 million in 2015, growing at a CAGR of 7.04% from 2016 to 2022 to reach $302,306 million by 2022. The functional food segment dominated the market in 2015 with more than one-fourth share, in terms of revenue.

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Nutraceuticals are standardized grade of food sources derived from food sources with extra benefits in addition to basic nutritional value found in food. Integration of nutraceuticals with personal care has benefitted the market with cosmeceuticals owing to its anti-aging properties. In addition, increase in demand for nutraceutical in dietary supplements products is expected to drive the market owing to decreased use of genetically modified foods and crops. The expensive medical treatments have paved the way for nutraceuticals as an alternative to expensive drugs which is expected to boom in near future. However, production of nutraceuticals coupled with raw materials cost have increased substantially restricting the affordability of the consumers.

Patented products of pharmaceuticals products with nutraceuticals is a lucrative delivery platform for pharmaceutical industries.

Both functional foods & beverages occupy three-fifth of the total volume by revenue. Functional medicines segment in the nutraceuticals industry, and emerges as the best alternative for normal medicines. Nutraceuticals influence drug metabolism, and can also boost the pharmaceuticals in the body when optimally balanced, thus opening lucrative business opportunities through patented combinations of nutraceuticals and pharmaceuticals.

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Key findings of the Nutraceuticals Market:

• Functional food segment is expected to grow with a CAGR of 6.84% during 20162022.
• The European branded flour market is expected to garner with a CAGR of 6.99% during the forecast period.
• LAMEA is expected to achieve a CAGR of 7.13% in proteins & peptides market during the forecast period.
• The functional food segment is the fastest growing market occupying more than one-fourth of the total volume in terms of revenue.
• The personal care and pharmaceuticals product is expected to grow with a CAGR of 7.61% during 20162022.
• Asia-Pacific occupies approximately one-third of the total volume by revenue in terms of geography.

Asia-Pacific and Europe collectively contributed more than half of the share to the global nutraceuticals market revenue in 2015. India is expected to achieve a CAGR of 14.23% during the forecast period.

The top market players include Archer Daniels Midland Company, Cargill Incorporated, Royal DSM N.V., BASF SE, Nestle S.A., Groupe Danone S.A., E. I. du Pont de Nemours and Company, PepsiCo Inc., Aland (Jiangsu) Nutraceutical Co., Ltd., and General Mills, Inc.

Biostimulant Market Expected Will Reach $4,089 Million, Globally, by 2023 | CAGR 12.6%

Biostimulant Market Report, published by Allied Market Research, forecasts that the global market was valued at $1,784 million in 2016, and is projected to reach $4,089 million by 2023, growing at a CAGR of 12.6% from 2017 to 2023. Europe is one of the prominent consumers of biostimulants, accounting for more than 40% of the total market in 2016.

Biostimulants are naturally derived fertilizer additives used to enhance plant growth and productivity. These products also contribute towards nutritional enhancement of agricultural products. Acid- and extract-based biostimulants are the major types of biostimulants available in the market. Acid-based biostimulants include humic acid, fulvic acid, and amino acid, whereas seaweed extracts and other plant extracts are considered under plant extracts. Various regulations are imposed on the use of biostimulants by regulatory bodies.

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Increase in demand for high crop yields and quality, and focus on sustainable agriculture to protect the environment drive the growth of biostimulant products. However, lack of education and awareness among farmers about the benefits of using biostimulants in agricultural activities is expected to impede the market growth in the near future.

Humic acid has gained dominance in the recent years, owing to its superior properties as compared to other types of biostimulants. Humic substances are naturally occurring organic materials derived from biological sources, i.e., decomposed organic matter. 

Acid-based biostimulants are expected to maintain dominance in the global biostimulant market during the forecast period. However, the extract-based biostimulants are anticipated to gain traction as well. In 2016, Europe dominated the acid-based biostimulant market, with more than 40% revenue share. Humic acid was the dominant type among the acid-based biostimulants in 2016, and is expected to maintain the similar trend during the forecast period. Among the extract-based biostimulants, seaweed extracts held a major share in 2016.

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Row crops & cereals dominated the global biostimulant market, with 63% revenue share in 2016. Turf & ornamentals segments is expected to grow at the highest CAGR during the forecast period as compared to the other crop types considered. Growth in usage of biostimulants in the aforementioned crop types is anticipated to drive the global biostimulants market.

The foliar application segment dominated the market in 2016, and is expected to maintain this trend during the forecast period. However, the significant higher CAGR of seed application segment drives the biostimulant industry.

Key Findings of the Biostimulant Market:

• In terms of value, the extract-based segment is expected to grow at a CAGR of 13.2% during the forecast period.
• Europe is projected to maintain its lead position throughout 2023, growing at a CAGR of 12.2%, in terms of value.
• The seed application segment is estimated to grow at a high CAGR of 14.4%.
• Italy is expected to occupy around 25% of the European biostimulant market by 2023.
• India is expected to grow at the highest CAGR of 13.7%, in terms of value, from 2017 to 2023.

In 2016, Europe and North America collectively accounted for approximately 65% share of the global biostimulant market, and are expected to continue their dominance, owing to rise in focus on sustainable agriculture.

The major companies profiled in the report include BASF SE, Biolchim S.p.A., Isagro S.p.A., Koppert B.V., Biostadt India Limited, Italpollina S.p.A, Novozymes A/S, Platform Specialty Product Corporation, Sapec Group, and Valagro S.p.A.

Adventure Tourism Market Will Reach $1,335,738 Million, by 2023, at a CAGR of 17.4%

According to a new report published by Allied Market Research, titled, Adventure Tourism Market by Type, Activity, Type of Traveler, Age Group, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2017-2023, The global adventure tourism market was valued at $444,850 million in 2016, and is projected to reach $1,335,738 million in 2023, registering a CAGR of 17.4 % from 2017 to 2023.

Adventure tourism involves exploration or travel to remote exotic areas. It includes unique and challenging experiences during the vacation, in which travelers interact with local populations and connect with their core values. Adventure travel is a kind of niche tourism, which includes numerous activities such as caving, climbing, cycling, hiking, hunting, rafting, and others.

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Adventure tourism is growing exponentially worldwide, as travelers prefer to visit previously undiscovered destinations. Moreover, with the increase in government initiatives in the form of public and private partnership to promote tourism has led to growth of the adventure tourism market. However, involvement of high risk in adventure travelling and unpredictable weather conditions hinder the growth of the market. Irrespective of challenges, increase in social media trend has created a huge opportunity for adventure travel market, as Facebook has become the most preferred social network among travelers to share experiences.

Adventure tourism market grows at the highest rate, owing to the development of the travel & tourism industry. Factors such as the availability of low-cost airline carriers, change in life style, increase in disposable income, consumers seeking for life changing experience/activity further accelerate the growth of market. 

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The market is segmented on the basis of type, activity, type of travelers, age group, sales channel, and geography. By type, the market is classified into hard, soft, and others. Based on activity, it is divided into land-based activity, water based-activity, and air-based activity. Depending on type of travelers, it is fragmented into solo, friends/group, couple, and family. According to age group, it is categorized into below 30 years, 30-41 years, 42-49 years, and 50 years & above. The sales channel segment includes travel agent and direct. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

In 2016, the land-based activities was the leading revenue contributor to the global market. However, the air-based activities is expected to witness lucrative growth rate during the forecast period.

Key Findings of the Adventure Tourism Market::

• In 2016, Europe dominated the global market with more than one-third share, in terms of value.
• Asia-Pacific is estimated to witness the highest growth rate during the forecast period.
• Soft adventure segment generated the highest revenue to the global market in 2016, and is expected to grow at a CAGR of 17.8%.
• The air-based activity segment is estimated to register the highest growth rate, in terms of revenue, registering a CAGR of 18.2%.

The key players profiled in the report are Austin Adventures, Inc., G Adventures Inc., Mountain Travel Sobek, TUI AG., ROW Adventures, REI Adventures, InnerAsia Travel Group, Inc., Intrepid Group Limited, Butterfield & Robinson Management Services, Inc., and Abercrombie & Kent Group of Companies S.A.

Wearable Technology Market Expected to Grow at a CAGR of 16.2% from 2016 to 2022

According to a new report published by Allied Market Research, titled, Global Wearable Technology Market by Devices, Product type, Application, and Geography: Global Opportunity Analysis and Industry Forecast, 2014-2022, the wearable technology market size was $19,633 million in 2015, and is projected to reach $57,653 million by 2022, growing at a CAGR of 16.2% from 2016 to 2022. North America is expected to be the leading contributor to the global wearable technology market, followed by Europe and Asia-Pacific.

The growth of the global wearable technology market is driven by convenient usage of wearables and entry of various smartphone manufacturers. In addition, rise in health concerns among consumers fuels the adoption of wearable devices, which enable them to provide real-time information on their overall health. Multiple benefits offered by these devices such as GPS tracking, heart monitoring, and notification alert further supplement the wearable devices market growth. Moreover, rise in disposable income of consumers and increase in standard of living propel the growth of the global wearable technology market. However, increase in security concerns is projected to hamper the market growth, as the risk of data leakage is a major issue for users. Moreover, the limited battery life and high manufacturing cost restrain the market growth. Advancement in wearable devices technology is expected to provide numerous growth opportunities for the market.

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In 2015, wrist wear segment accounted for the maximum revenue shares in the overall wearable technology industry, owing to the flexibility provided by wearables. Moreover, wearables can be used to monitor heart rate and blood pressure, thus reducing the hospital bills. In addition, rise in demand for wearable devices from North American and European countries is expected to have a positive impact on the market growth, as these regions have strong economic base. The smartwatch segment is expected to witness the fastest growth, registering a CAGR of 19.9%. Technological advancements in wearable electronics such as introduction of smart rings, innovative body wear, baby monitors, and others are anticipated to provide growth opportunities for the market.

The wearable technology industry in Asia-Pacific is expected to grow at the fastest rate during the forecast period, owing to growth in urbanization, improved living standards of the consumers, and introduction of various innovative wearable features that help to minimize regular tasks. Furthermore, continuous economic development in countries such as India, China, and Australia is expected to provide numerous growth opportunities to the market.

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The fitness & sports segment dominated the wearable technology market with over 39% share in 2015, and is projected to maintain this trend throughout the forecast period. However, Entertainment sector is anticipated to grow at a highest CAGR of 35.7% during the forecast period. The growth of the consumer application is expected to be driven by increase in awareness of wearables and innovative features & benefits provided by the wearable product manufacturers.

North America accounted for the major share of the global wearable technology industry in 2015, and is expected to maintain its dominance during the forecast period, owing to rise in demand for convenient wearables. Asia-Pacific is estimated to grow at the highest rate due to increase in the adoption of technologically advanced products; growth in demand for smart wearables; and extensive economic growth in developing countries such as China and India.

Key findings of the Wearable Technology Market

• In 2015, the wrist wear segment accounted for the maximum revenue, and is projected to grow at a notable CAGR of 16.6% during the forecast period.
• North America held the highest market share in 2015, and is anticipated to dominate the global wearable technology market throughout the forecast period.
• China is the major shareholder in the Asia-Pacific wearable technology market, accounting for more than 34% share in 2015.

The key players profiled in the wearable technology industry include Apple Inc., Fitbit, Inc., Garmin Ltd., Adidas AG., Nike, Inc., Samsung Electronics Co., Ltd., Sony Corporation, Huawei Technologies Co., Ltd., LG Electronics Inc., and Motorola Solutions Inc. These players have adopted various strategies such as product launch, collaboration & partnership, and acquisition to expand their foothold in the wearable technology market. Apple introduced Apple Watch Nike+, which is an important tool for runners, pairing exclusive Nike Sport Bands with Apple Watch Series 2, which features GPS, a two times brighter display, water resistance up to 50 m, a powerful dual-core processor, and watchOS 3. The introduction of technologically advanced products is likely to gain acceptance among the tech savvy people, specifically in developed regions of North America and Europe.

Reverse Osmosis Membrane Market Growth By Top Key Players and Opportunities, 2018-2025

According to a new report published by Allied Market Research, titled, Reverse Osmosis Membrane Market by Material Type, Filter Module, and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global reverse osmosis membrane market size was estimated to be $6,201 million in 2017, and is estimated to reach $12,125 million by 2025, registering a CAGR of 8.7% from 2018 to 2025. In 2017, the spiral-wound reverse osmosis membrane segment accounted for more than two-fifths of the total reverse osmosis membrane market.

There are two main types of water treatment technology namely, thermal and membrane technology. The membrane technology includes microfiltration, ultrafiltration, nanofiltration, and reverse osmosis, among others. Reverse osmosis membrane market is one of the fastest growing market. Reverse osmosis is a form of membrane separation, which uses pressure to force a solution through a membrane that retains the solute and allows the pure solvent to pass to the other side. Typically, this membrane is designed to allow only water to pass through while the solutes (for example, salt ions) are being separated. Capable of separating dissolved solids, bacteria, viruses, and other selected dissolved substances, it is largely used for the desalination of seawater. The reverse osmosis membrane is essentially non-porous, and it preferentially passes liquid and retains most of the solutes including ions. Reverse osmosis emerged along with electrodialysis as a new technology in the second half of the 20th century and became an alternative to commonly used techniques of evaporation and distillation.

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The reverse osmosis membrane industry growth is significantly influenced by rise in inclination towards low energy consuming water treatment process. Moreover, considering the rising trend of reverse osmosis membrane use in alternative water source treatment, including desalination plants and wastewater recycling, the reverse osmosis membrane-based water and wastewater treatment processes hold a great potential for the future. Especially in regions with water scarcity, the provision of water from seawater desalination plants has become increasingly important.

Rising awareness related to global water crisis and inclination towards energy efficient technology drive the reverse osmosis membrane market.

Over the years, the cost of water treatment by conventional treatment plants has risen up, owing to very high energy cost and relatively lower efficiency. Thermal desalination-both multi-stage flash (MSF) and multiple effect distillation (MED)-are more energy intensive than reverse osmosis (RO) membrane technology. Thermal processes require both electrical energy and heat, which is what make it more energy intensive than reverse osmosis (RO) membrane technology. Thus, low operating expenditure of reverse osmosis plant, propels the growth of the reverse osmosis membrane market.

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The Earths surface is covered with 70% of water, however, only 3% of it is freshwater, which is fit for human consumption. And, approximately two-thirds of the freshwater are frozen as glaciers, and thus, it is unavailable for our consumption. According to WWF, around 1.1 billion people across the globe lack proper access to water, and approximately 2.7 billion people come across water scarcity for at least a month in a year. Some of the effects of water scarcity are poor access to drinking water, loss of irrigation, and sanitation issues. These three problems have high impact on human health and lead to various diseases. These problems can be controlled by application of water treatment technologies, such as reverse osmosis membrane, wastewater is recycled, leading to control in usage of natural water resources. And accordingly, public sectors are taking initiative at local & national level to address the issue. Thereby supporting the growth of reverse osmosis membrane market.

The key application of reverse osmosis membrane are desalination and RO purification system. Desalination is the process of removal or extraction of salt and other minerals from a water source (sea water and brackish water). Desalination is done to produce water suitable for human consumption or irrigation. The amount of salt content in seawater ranges from 30,000 mg/L to 40,000 mg/L, majorly depending on the region. Whereas, brackish water has less salt than seawater but has more salt than freshwater. Typically, brackish water contains from 0.5 to 30 grams of salt per liter. Brackish water is found in estuaries, mangroves, brackish seas and lakes, brackish marsh, and others.

The reverse osmosis (RO) purification system has applications in many areas such as residential, commercial, municipal, industrial, medical diagnostics, and dialysis equipment. The reverse osmosis (RO) purification system uses several types of reverse osmosis membranes based on the level of filtration and the process. The reverse osmosis (RO) systems used in residential and commercial are to provide a continuous supply of clean, fresh drinking water. Industries often require highly purified water for drinking, boilers, food and beverage processing, cosmetics, pharmaceutical production, and many other applications.

Key Findings of the Reverse Osmosis Membrane Market :

• The desalination system segment of the reverse osmosis membrane market is anticipated to witness the fastest CAGR of 10.1% during the forecast period, that is, 2018 to 2025.
• The thin film composite membrane segment dominated the global reverse osmosis membrane market in 2017, and it is anticipated to grow at a lucrative CAGR of 9.1% during the forecast period.
• The hollow-fiber segment is anticipated to witness the highest CAGR of 9.1% in terms of value during the forecast period.
• The Asia-Pacific region led the global reverse osmosis membrane market in 2017, and is anticipated to witness a CAGR of 10.1% during the forecast period, in terms of value.
• By filter module, the spiral-wound segment dominated the reverse osmosis membrane market in 2017, and is anticipated to witness a significant CAGR of 8.8% during the forecast period.

The key companies profiled in the reverse osmosis membrane market are Toray Industries, Inc., LG Chem., Hydranautics (A Nitto Group Company), Toyobo Co., Ltd., Lanxess AG, The Dow Chemical Company, Koch Membrane System, Microdyn-Nadir GmbH, Membranium (JSC RM Nanotech), and Axeon Water Technologies.

Curcumin Market Expected to Reach $104.19 Million by 2025 | CAGR: 8.9%

Curcumin Market by Application: Global Opportunity Analysis and Industry Forecast, 2018-2025 the global curcumin market was valued at $52.45 million in 2017, and is projected to reach $104.19 million by 2025, registering a CAGR of 8.9% from 2018 to 2025. In 2017, the pharmaceutical segment accounted for more than 50% share of the global curcumin market in terms of value.

Curcumin is a bioactive compound found in turmeric, known for its powerful medicinal and therapeutic properties. It has been used as a spice and medicinal herb for thousands of years in Asian countries such as India, Thailand, Indonesia, and others. Owing to its anti-inflammatory, antioxidant, and cartilage building properties curcumin finds extensive applications in the cosmetic and pharmaceutical industry. Medicines containing curcumin extracts are used for treatment of numerous diseases and health problems such as wound healing, treating sprains, arthritis, liver problems, diabetes, gastric problems, Alzheimer, and migraine. Curcumin extracts have been formulated in many skincare applications in the form of skin creams, ointments, powder, and others. It helps to heal and prevent dry skin, treat skin conditions such as eczema and acne, and delay the aging process. Thus, the increase in use of curcumin in cosmetic and pharmaceutical industry has propelled the curcumin market growth in recent years.

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Curcumin is responsible for the aroma, color, and bitter-warm taste of turmeric. Turmeric is used as one of the most traditional spices in many Indian, Thai, and Western cuisines. It enhances and balances the flavors of all other ingredients; hence it is used for flavoring, coloring, and seasoning purpose. The focus of food manufacturers is mostly on incorporation of curcumin in food products, which is expected to provide ample opportunities for curcumin industry. Other factors such as rise in living standards, increase in preference for healthy & natural food products, rapid urbanization, and surge in demand for ayurvedic and herbal skincare products have an indirect positive influence on the growth of the global curcumin market. Nonetheless, the presence of less expensive synthetic food colorants and formulation challenges in curcumin-based items are expected to hamper the market development. Technological advancements and introduction of innovative curcumin extract products such as powder, capsules, and syrups in pharmaceutical, skincare, and other commercial applications are expected to provide lucrative opportunities for the curcumin industry during the forecast period.

Key Findings of the Curcumin Market: 

• The pharmaceutical segment was the highest contributor to the curcumin market in 2017, and is projected to grow at a CAGR of 9.1%.
• Europe is the quickest developing locale enlisting a CAGR of 9.5% over the figure time frame. Developing interest from purchasers combined with administrative help from the European Food Safety Association (EFSA) is expected to fuel the growth of the Europe market.
• In 2017, North America was the most elevated donor regarding quality and volume and is projected to grow at the most astounding CAGR of 9.0% from 2018 to 2025.
• In 2017, Asia-Pacific accounted for almost 14% of the share in terms of value in the global curcumin market and is projected to grow at a significant CAGR of 8.2%.
• China accounted for the highest curcumin market share accounting approximately 36.5% in the Asia-Pacificregion, in 2017.
• In 2017, the food & beverage segment accounted for 33.2% of curcumin market share and is expected to grow at significant CAGR of 9.5%.

In terms of value, Asia-Pacific and LAMEA collectively contributed one-fifth share in the global curcumin market in 2017. The key players operating in the curcumin market are Biomax Life Sciences Ltd., Synthite Industries Ltd., BioThrive Sciences, Konark Herbals & Health Care, Arjuna Natural Extracts Ltd., SV Agrofood, Star Hi Herbs Pvt. Ltd., NOW Health Group, Inc., Phyo life Sciences, and Herboveda India Pvt. Ltd.

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