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Analyzing Trends and Growth Prospects: Men’s Underwear Market Poised to Surpass US$ 65.3 Billion with a Projected CAGR of 5.3% by 2033

In 2023, the global men’s underwear market is anticipated to reach a valuation of US$ 38.96 billion, with projections indicating a surpassing of US$ 65.3 billion by the end of the forecast period, driven by a Compound Annual Growth Rate (CAGR) of 5.3%. This growth trajectory underscores a steady increase in demand for men’s underwear worldwide, fueled by factors such as evolving fashion trends, rising disposable incomes, and increasing awareness of comfort and style. The forecasted expansion signifies a promising outlook for manufacturers and retailers operating in the men’s underwear market, highlighting opportunities for innovation and market penetration.

Rising health awareness has resulted in an increase in the demand for underwear that offers comfort and support. The demand for premium underwear has grown due to the increasing purchasing power of consumers and their willingness to pay a premium for better quality products. Changing fashion trends have also led to an increase in demand for stylish underwear.

The men’s underwear industry also faces several restraints such as intense competition among established players, high cost of raw materials, and increasing use of counterfeit products. Established players are always striving to maintain their market share, leading to intense competition.

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Key Takeaways from the Men’s Underwear Market:

The demand for men’s underwear in the United States is predicted to rise at a CAGR of more than 6.5% between 2023 and 2033.
In the United Kingdom, the men’s underwear sector is expected to develop at a CAGR of more than 5%.
During the forecast period, the men’s underwear market in Thailand is anticipated to expand at a CAGR of over 3%.
The cotton segment is expected to dominate the market with a CAGR of more than 2% over the projected period.
The boxer briefs category is likely to rise at a CAGR of 8.2% throughout the evaluation period.
The XXL segment is expected to increase at a CAGR of more than 5% over the projection period.

The high cost of raw materials such as cotton, silk, and polyester results in higher production costs, which can increase the price of the final product. The increasing use of counterfeit products is also a key concern for the industry, as it affects the reputation of established brands.

Emerging economies such as China and India offer huge potential due to the large population and increasing purchasing power of consumers. The increasing popularity of sustainable and eco-friendly products also presents an opportunity for the industry to tap into a growing niche market.

The men’s underwear industry is witnessing several trends such as the increasing popularity of athleisure, the use of innovative materials, and the emergence of new designs and patterns. Athleisure, which involves wearing athletic clothing for everyday wear, has gained popularity among consumers, leading to an increase in the demand for comfortable and supportive underwear.

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How Players are Revolutionizing the Men’s Underwear Industry?

The men’s underwear industry is highly competitive with several key players dominating the market. Some of the leading players in the industry include Hanesbrands Inc., Calvin Klein, Jockey International Inc., and Fruit of the Loom. These companies have been able to maintain their market share and remain competitive by focusing on several key strategies.

One of the key strategies employed by these companies is innovation. By constantly developing new materials, designs, and styles, these companies can stay ahead of the competition and offer products that appeal to a wide range of customers. In addition, many of these companies are investing in new technologies such as smart fabrics and 3D printing to further differentiate their products and appeal to tech-savvy consumers.

Consumers are increasingly looking for underwear that is both stylish and comfortable, and companies that can offer products that combine these features are likely to see significant growth in the coming years. Additionally, there is a growing trend towards inclusivity and diversity in the industry, with companies offering products that cater to a wider range of body types and skin tones.

Key Companies Profiled

Hanesbrands Inc.
Philips-Van Heusen Corporation
Ralph Lauren Corporation
Jockey International Inc.
American Eagle Outfitters Inc
Iconix Brand Group Inc.
C. Penney Corporation Inc.
Under Armour, Inc.
RibbedTee Company
Ramblers Far, Inc.
Levi Strauss & Co.
Perry Ellis International Inc.
Naked Brand Group Inc.

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Recent Developments in the Market:

In August 2022, Calvin Klein launched the ‘Autumn 2022’ campaign, showing the latest underwear and jeans styles. The series is intended for everyday usage, with a modern aesthetic and a mix of recyclable materials to give wireless comfort.
In April 2022, Hanes brand, Inc. could introduce the new ‘X-Temp Full Support Pouch’ men’s underwear with cooling fabric and breathable mesh panels, as well as quick-drying and moisture-wicking qualities.
Jockey International Inc. collaborated with Olympic gold winner Usain Bolt to create a new style of underwear, which attracted extensive media attention and aided in brand exposure.
Buttercloth, a Shark Tank menswear startup, produced the first underwear with cooling chilly cotton fabric in 2021.

Key Segments Profiled

By Material:

Cotton
Wool
Silk
Polyester
Rayon
Linen
Nylon
Others

By Category:

Regular Brief
Boxer Brief
Boxer Shorts
Trunks
Thongs

By Sales Channel:

Wholesalers/ Distributors
Hypermarkets/Supermarkets
Specialty Stores
Multi-brand Stores
Online Retailers
Others

By Price Range:

Below US$10
US$ 10 to US$ 20
US$ 20 to US$ 30
US$ 30 & Above

By Age Group:

15 to 25
26 to 35
36 to 45
46 to 55
56 to 65
65+

By Size:

XS
S
M
L
XL
XXL
XXXL

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M2M Services Market: Anticipated Surge to US$ 376.3 Billion by 2032 with 25.2% CAGR

The global M2M services market is projected to reach US$ 376.3 Billion by 2032. The market is expected to reach a CAGR of 25.2% during the forecast period from 2022 to 2032. The absolute dollar market value for M2M services was ranked at US$ 336.5 Billion in 2016–2021 during the forecast period.

In recent years, there has been unprecedented growth in embedded devices. These devices traditionally worked independently as well as locally and provided services to humans in their environment. The advancements in radio technologies have enabled mobile devices to be easily connected to target devices using the Internet.

Applied to devices such as sensors, RFID tags, actuators, vehicles, machines, and industrial embedded devices, these trends can now be seen in the number of case studies that use physical equipment services.

The managed M2M services provide a wireless interface between machines and devices, thus allowing them to be transformed into smart assets, creating new opportunities for growth while enhancing customer service.

By using these services, businesses can optimize the efficiency and productivity of the business activities associated with connected machines, stimulating innovation, enabling faster decision-making, and reducing the need for time, effort, and cost.

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Key Takeaways from the M2M Services Market Report:

Market growth is expected to reach a CAGR of 25.2% in the forecast period, valuing the global M2M services market at US$ 39.7 Billion.
In India, the market is predicted to reach US$ 18.9 Billion while growing at a CAGR of 28% during the forecast period.
China’s market will grow at a 26.8% CAGR during the forecast period.
U.S. recorded a CAGR of 24.7% CAGR during the forecast period.
Connectivity and Data Storage Services is expected to reach a CAGR of 25.5% during the forecast period between 2022 and 2032.

M2M Services Competitive Landscape:

In October 2021, Wavecom S.A. signed a definitive agreement to acquire Anyware Technologies, a leading provider of client-server software solutions for machine-to-machine (M2M) applications located in Toulouse, France. Having been a Wavecom technology partner for several years, Anyware Technologies is pleased to join forces with Wavecom technologies in further enhancing the deployment of our complete turn-key solutions that enable customers to create wireless products that seamlessly integrate with their IT infrastructure.
SONDA acquired M2M solutions in September 2021 as part of its strategic plan for the 2019–2021 period, which focuses on strengthening four key industries at a regional level: transportation, retail, financial services, and government. With their proven track record of successful transport solutions, Sonda has assisted in improving the quality of life of Latin Americans by transforming the way they move daily. Throughout the years, SONDA has built a solid base of expertise that M2M solutions can strengthen over the years.

Leading Key Players:

AT&T
Germalto NV
PTC
Oracle
Ericsson AB
VERIZON COMMUNICATIONS INC
Deutsche Telekom AG
Vodafone + Telefonica
Aeris

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M2M Services Market Segmentation:

By Organization Size:

Large Enterprises
SMEs

By Service Type:

Managed
Professional
Connectivity and Data Storage

By Application:

Retail
Manufacturing
Healthcare
Automotive
Consumer Electronics
Energy and Mining
Transportation and Logistics
Oil and Gas
Others (Education, Hospitality)

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Payment Processing Solution Market: Forecasted Surge to US$ 231.7 Billion by 2032, Showing a 9.9% CAGR

The global payment processing solutions market is expected to secure US$ 231.7 Billion while exhibiting a CAGR of 9.9% during the forecast period from 2022 to 2032. The growing application of smartphones and increasing internet penetration across the globe are expected to play a significant role in driving the market in the forecast period.

Moreover, various countries; such as India, France, and others, take favorable initiatives, which are expected to strengthen the market during the forecast period. The Indian government introduced the Unified Payments Interface (UPI) to smoothen digital payments nationwide. Similarly, the French National Cashless Payments Committee was established in 2015 to promote contactless payments.

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With rising financial inclusion across the globe, the market is likely to witness significant opportunities for market growth. According to the Reserve Bank of India, India’s Financial Inclusion Index was 53.9 by the end of March 2021. The expanding financial inclusion across emerging economies is expected to augment the market size in the forecast period.

North America is expected to dominate the global market owing to the rapid technical development in the region. The rapid technological development and the growing popularity of online payment systems are expected to provide a significant boost to the market.

Key Takeaways from the Payment Processing Solutions Market Report:

The global payment processing solutions market to secure US$ 90.4 Billion in 2022
The global payment processing solutions market is expected to exhibit a CAGR of 9.9% from 2022- to 2032
By payment method, the credit card segment is projected to expand at a CAGR of 9.3% during the forecast period
The U.S. market to value US$ 75.1 Bn by 2032
Market in China to grow by 8.6% CAGR from 2022- to 2032
The U. K market to hold a value of US$ 10.3 Bn by 2032
By mode of deployment, the cloud-based segment is expected to exhibit a growth rate of US$ 8.9% during the assessment period.
The market in Japan is to expand by 8.6% CAGR by the end of the forecast period.

What is the Contribution of Key Players in the Global Payment Processing Solutions Market?

Key players in the global payment processing solutions market include Global Payments, Mastercard, Paypal, Visa, Wirecard, and others. Key developments in the industry are:

In November 2021, Fiserv launched Clover Online Ordering with Delivery, which offers flexible food delivery services with menu management, payment processing, and ordering through the newly launched platform.
In October 2021, Zettle Terminal was launched. It is a new, all-in-one point-of-sale solution that gives increased mobility in-store for SMEs. By 2022, Zettle Terminal will reach the USA It has already been launched in the UK in 2021.

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Payment Processing Solutions Market Segmentation:

By Payment Method:

Debit Card
Credit Card
E-Wallet
ACH
Other

By Mode of Deployment:

On-Premises
Cloud-Based

By Vertical:

BFSI
Government and Utilities
Telecom and IT
Healthcare
Real Estate
Retail and E-Commerce
Media and Entertainment
Travel and Hospitality
Other Verticals

By Region:

North America
Europe Payment
Asia-Pacific
Middle East & Africa
Latin America

Author By:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Life Science Analytics Market: Projected Growth to US$ 68.6 Billion by 2032, Surging at 10.7% CAGR

The global life science analytics market is anticipated to rise from US$ 24.8 billion in 2022 to US$ 68.6 Billion by 2032, expanding at a compound yearly growth rate of 10.7%. The R&D and business sectors are expected to undergo a significant transformation as a result of the adoption of artificial intelligence in healthcare over the next few decades.

Life science organizations are under pressure to cut medical expenses, boost productivity, and implement analytics solutions in clinical trials and drug development as they adopt sophisticated analytics techniques.

With life science, AI can be trained to differentiate cancer cells in the lab, analyze complex genomic datasets, and identify patterns in medical images, like X-rays. In addition, analytics can also identify unexpected or novel patterns and predict treatment responses by analyzing consumer, treatment, diagnostic, and lab data stored in natural language.

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Companies in the life sciences are finding it increasingly difficult to handle exponentially growing data volumes. Algorithms that use machine learning might be able to help analyze data and decide which parts of it are relevant, allowing huge amounts of data to be analyzed for insights. Moreover, AI can be used in repurposing drugs and developing new drugs, as well as in diagnosing diseases more swiftly providing more efficient treatments, as well as identifying hypotheses based on data.

Key Takeaways from the Life Science Analytics Market Report:

Life science analytics experienced a growth rate worth 11.8% between 2016 and 2021
The global life science analytics market is valued at US$ 39.9 Billion in 2026, during the forecast period.
Software components in the life science analytics segment to expand at a CAGR of 10.1% during the forecast period
In the U.S., the market is predicted to reach US$ 27.5 Billion while growing at a CAGR of 10.7% during the forecast period.
Life science analytics applications in research and development are expected to grow at a CAGR of 11.8% during the forecast period.
China’s market is expected to reach a market value of US$ 6.3 Billion with a CAGR of 18.6% during the forecast period.

Competitive Landscape:

Are among companies that offer products and technologies that will allow customers to take advantage of new technologies.

In March 2022, EQT closed the acquisition of LSP and launched EQT Life Sciences. As announced on 10 November 2021, EQT AB completed the acquisition of LSP after signing a definitive agreement on 28 February 2022. EQT has issued 7,548,384 shares to LSP’s selling shareholders, representing a dilution of approximately 0.8 percent, as part of the total consideration of EUR 475 million. Following the completion of the Transaction, EQT will have 993,828,524 ordinary shares issued and outstanding.
For US$ 2.2 billion, TPG Capital will purchase ClaimsXten, Change Healthcare’s claims editorial service, from UnitedHealth in April 2022. To proceed with ClaimsXten’s sale, UnitedHealth will have to acquire Change Healthcare first. The deal has been put on hold after the U.S. Department of Justice filed a lawsuit. Reports indicated that UnitedHealth hoped to acquire Change Healthcare for US$ 8 billion through the sale of ClaimsXten.

Leading Key Players:

Accenture Plc.
Cognizant Technology Solutions Corporation
IBM Corporation
MaxisIT, Inc.
Oracle Corporation
IQVIA (Quintiles, Inc.)
SAS Institute Inc.
Scio Health Analytics
Take Solutions, Inc.
Wipro Limited
SAP SE

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Life Science Analytics Market Segmentation:

By Component:

Software
- On-premise
- On-demand
Services
- Professional
- Managed

By Application:

Clinical and Preclinical Trials
Regulatory Compliance
Research and Development
Sales and Marketing
Supply Chain Management

By Type:

Descriptive
Predictive
Prescriptive

By End-Use Application:

Biomedical Companies
Laboratory and Pharmaceuticals
Medical Device Companies

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
South America

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Location Based Marketing Services Market: Surging Towards US$ 299.3 Billion by 2032 with an 18.1% CAGR

The location based marketing services market is expected to reach US$ 299.3 Billion by 2032, expanding at a high CAGR of 18.1%. The industry is likely to yield a dollar opportunity worth US$ 252.3 Billion across the 2022-2032 forecast period.

Increasing demand for mobile location-based services, the surge in demand for location-enabled mapping, tracking, and navigation solutions, and the proliferation of social media, smartphones, and location-based applications among consumers are expected to accelerate the market growth during the forecast period.

From 2015 to 2021, location based marketing services demand expanded at a CAGR of 18.8%, yielding US$ 47 Billion. Growth prospects improved further during the COVID-19 pandemic, as the extensive presence of consumers on social media platforms made it easier for industries to target specific customers across different geographies.

Furthermore, regulatory measures to ensure consumer safety, the proliferation of new data sources, and evolving methodology for marketing purposes are likely to promote market growth.

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Moreover, the rise in GPS-enabled precision applications, such as farming, logistics, and automotive, has created a high demand for location-based solutions. Also, the increasing demand for mobile location-based services, the surge in demand for location-enabled mapping, tracking, and navigation solutions, and the proliferation of social media, smartphones, and location-based applications among consumers are providing significant opportunities for the growth of the location-based services market.

Key Takeaways from the Location Based Marketing Services Market Report:

The global location based marketing services market was valued at US$ 56.5 Billion by 2022-end
The U.S to account for the highest value share of US$ 90.9 Billion of global market demand until 2032
My target location, the physical locations category to be most preferred, documenting a CAGR of 18.1%
China to experience prolific market growth, surpassing US$ 40 Billion by 2032, following a CAGR of 21.1%
Based on promotion type, search result-based location-based marketing reigns supreme, growing at a 17.3% CAGR

Competitive Landscape:
Players in the global location based marketing services market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market.

Some of the recent developments among the key players are:

In September 2021, BT and Oracle partnered to optimize their network resources and bring new 5G offerings to market faster. The solution will enable BT to quickly and seamlessly test and implement 5G services.
In July 2021, TomTom Virtual Horizon was designed for automated and non-automated vehicles, with and without embedded navigation. It provides a seamless connection between digital maps and ADAS functionality.
In July 2021, IBM and Atos collaborated and built a secured infrastructure for the Dutch Ministry of Defence. This infrastructure provides advanced technologies, and infrastructure services, and safeguards its It system, among others.

Leading Key Players:

ALCATEL-LUCENT
APPLE INC.
AT&T Inc.
Bharti Airtel Limited
Cisco Systems, Inc.
Google LLC
HERE
International Business Machines Corporation
Microsoft Corporation
Oracle Corporation
Qualcomm Technologies, Inc.

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Location Based Marketing Services Market Segmentation:

By Location Type:

By Physical Location
By Location of Interest

By Promotion Type:

Banner Display/Pop-ups Promotion
Video Promotion
Search Result Promotion
E-mail and Message
Social Media Content Promotion
Voice Calling Promotion

By Industry Vertical:

Retail
Hospitality
Healthcare
BFSI
Education
Technology and Media
Transportation and Logistics
Automotive and Other Industries

By Region:

North America
South America
Europe
Asia Pacific
Middle East and Africa

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani

Exploring Opportunities in the Car Rental Service Market: Projections Suggest a Surge Beyond US$ 307.5 Billion by 2033

The global car rental service market is projected to accrue a value of US$ 307.5 billion by 2033, with the demand growing at a healthy CAGR of 7.2% from 2023 to 2033. The market will likely reach an estimated US$ 153.4 billion in 2023. Substantial growth in the number of people taking business and leisure travel trips is spurring the demand for the car rental market in the forecast period.

The widespread access to and use of the internet across developing as well as developed nations have helped enterprises in the market to expand their customer base with the aid of mobile applications. In addition, the subscription model introduced by many market players is expected to contribute to market growth.

Rapid advancements in technology are anticipated to be an essential factor aiding the expansion of the market size. Technologically-empowered web-based solutions like online sales and booking channels enable consumers to rent a car at their convenience and ease. Technological advancements in this sector have improved customer and corporate information management and enabled hassle-free internet bookings.

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These considerations will supplement the growth of the car rental market. Again, the heightened dependency of consumers on smartphones for carrying out myriad tasks- tasks that were conventionally done by computers- has altered the car rental experience for consumers. This is because swift technological progress has helped enterprises in this sector to introduce various applications that will ensure a smooth booking process for consumers which, in turn, drives global market growth.

The market is also significantly influenced by the introduction of concepts like opaque renting which is a booking platform that allows online customers to offer the value that they will pay for a specific travel-related product or service without knowing the brand beforehand. The brand is only revealed after the consumer makes an online purchase. This concept, thus, enables car rental businesses to grow and use their fleet to their full capacity. This trend is expected to have an immense impact on the car rental services market. Hence, technological advancements in mobile capacities along with advancing web-based media enable the growth of opaque renting which, in turn, drives the overall car rental market growth.

Key Takeaways:

Sharp rises in fuel prices will likely serve as an impediment to the global car rental services market.
Favorable government initiatives like the implementation of policies regarding the reduction of carbon emissions will likely strengthen market prospects.
The car rental market in the US will be driven by the presence of market leaders like The Hertz Corporation.
China’s car rental market will dominate the East Asia region with East Asia registering a CAGR of 10.8% from 2023 to 2033.
By car type, the economy cars segment will dominate the international marketplace.
Based on end-users, the on-airport segment will account for over 40% of the market share.

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Competitive Landscape

Enterprise Holding Inc., The Hertz Corporation, Localiza-Rent A Car, Sixt SE, and Avis Budget Group, among others, are a few of the significant players in the car rental market profiled in the full version of the report.

In a competitive market, key players are keen on capitalizing on ongoing technological advancements. These organizations make use of web and mobile-based advancements to attract a wider consumer base. Strategic service offerings, mergers, and acquisitions are also employed by these participants to gain a competitive edge. For instance, Localiza Rent A Car SA merged with Car Rental Systems in 2020 to meet strategic guidelines for simplification and administrative and financial rationalization.

Car Rental Services Market by Category

By Car Type:

Economy Cars
Compact Cars
Intermediate Cars
Premium Cars
Luxury Cars
Others

By End Use:

Intercity
Intracity
On-Airport
Others

By Booking Mode:

Offline Access
Mobile Application
Other Internet Access

By Sector:

Organized
Unorganized

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa (MEA)

Author

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

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Nandini Singh Sawlani

Halal Cosmetics Market: Projected Growth at 11.6% CAGR to Reach US$ 127.8 Billion by 2033

The Halal Cosmetics Market is predicted to be worth US$ 42.65 billion in 2023 and rise to US$ 127.8 billion by 2033. Demand initially expanded at a market CAGR of 11.6% between 2023 and 2033.

The demand for halal cosmetics has increased globally, especially in areas with of Muslims, such as the United Arab Emirates, Indonesia, Malaysia, Saudi Arabia, Turkey, and others. As a result, the halal cosmetics market has increased the scope of its product line to significantly tap into the cosmetics market.

With the rising need for safe and clearly labeled products, the size of the halal-certified cosmetics industry is projected to present significant development potential for prospective participants in the years to come.

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In recent years, there has been an increase in product demand on a global scale as customers become more conscious of eco-friendly living strategies and the problems caused by non-halal cosmetics. As natural personal care and cosmetics are essential to living a healthy lifestyle, the adoption of halal cosmetics is likely to increase.

Key Takeaways:

The halal trend is being shaped both offline and online in the German market by the halal-certified brand VIE Halal.
Asia Pacific is predicted to control the bulk of the world’s halal cosmetics industry by 2032, mostly as a result of the rising Muslim population in Southeast Asian countries.
The halal cosmetics market was significantly expanding, with a size of US$ 38.21 billion in 2022.
Over the projection period, the United States is anticipated to lead the North American halal cosmetics industry, luring new competitors and maximizing commercial opportunities.
Skin care segment dominated the market in 2022, and is likely to hold a top spot regarding product type by 2033.

Competitors Winning Strategies:

With the Muslim population expanding, international companies like L’Oreal, Unilever, P&G, and others have prospects to enter the halal cosmetics sector in order to meet the rising demand for halal cosmetics. Three companies dominate the market: Iba Cosmetics, Ivy Beauty Corporation Sdn Bhd, and Kao Corporation. To remain competitive, well-known firms make considerable investments in research and development and product innovation.

To reach customers and shoppers via an omnichannel distribution strategy, the leading corporations are concentrating on market penetration efforts while bolstering their market presence.

While intensifying their efforts to improve their online and social media presence, key companies in the sector are also concentrating on promotional operations. This is to inform customers about the availability and advantages of cosmetics that have received halal certification.

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Key Players are:

Iba Cosmetics
Martha Tilaar Group
Clara International
Kao Corporation
Andalou Naturals
Ivy Beauty Corporation Sdn Bhd
Nature’s Dream
Prolab Cosmetics
Inglot Cosmetics
One Pure
Talent Cosmetics

What’s on the Horizon of Leading Manufacturers in this Industry?

A Muslim-owned skincare company called Flora and Noor unveiled novel halal-approved skin care products in June 2021. This business sells a range of halal-approved, vegan, and devoid animal goods. There are moisturizers, bath bombs, toners, serums, body scrubs, and cleansers.
In order to create recyclable packaging and reduce the impact of plastic on the environment, Lion Corporation and Kao Corporation, a Japanese maker of halal-certified cosmetics, worked together. Detergent, soaps, medicines, and oral hygiene products are all produced by Lion Corporation.

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Key Market Segmentation:

By Product Type:

Skin Care
- Creams & Lotions
- Face Cleanser
- Others
Hair Care
- Shampoo
- Conditioner
- Hair Oil
- Others
Makeup
- Facial Products
- Eye Products
- Lip Products
- Nail Products
Body Care
- Soaps
- Shower Gels
- Lotions
- Others
Fragrance

By End User:

Men
Women
Unisex

By Sales Channel:

Hypermarkets/Supermarkets
Convenience Stores
Specialty Stores
Multi-brand Stores
Online Retailing
Other Sales Channel

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Nandini Singh Sawlani

Tallow Amine Market Set to Surge at 4% CAGR, Reaching a Staggering US$ 13.77 Billion by 2032

Tallow amines represent the wide range of non-ionic surfactants derived from animal fats i.e. tallow. Tallow is a hard fat comprised of glyceryl esters of oleic, palmitic, and stearic acids. Tallow amines are hydrophilic surfactants with a weak ammonia smell. Tallow amines are immiscible in water, and are easily dissolved in alcohols, chloroforms, benzene, and ethers. Animal fats are hydrolyzed to give a mixture of fatty acids mainly comprised of palmitic, oleic, linoleic and myristic. These fatty acids are converted into amines by the nitrile process. Tallow amine is finding various applications in numerous industries. Tallow amines are widely used as cationic collector in the mining industry, as an emulsifier, and as wetting agents in agrochemical formulation.

Tallow amines are also used as additives in fuel and lubricants. They are used as additives in fuel & lubricants as well as dyes & pigments. Tallow amines are also used as corrosion inhibitors and thickeners for many industrial applications. Tallow amines are also finding its application is soap formulation and leather dressing. In certain regions and countries such as France, there are regulations and bans being imposed on tallow amine due to the uncertain health risks.

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Tallow Amine Market: Dynamics

Changing farming techniques and advancement of the farming technology has reshaped the agriculture industry. Rapidly growing population has fueled the agricultural production across the world. Advancement of technology and agriculture science there is rise in the adoption of agrochemicals. The up surging demand for high productivity or high agricultural yield is boosting the demand for agrochemicals, rising demand for agrochemicals will drive the growth of tallow amine market.

In this rapidly growing modern industrial there is substantial advancement in the technology and industrial activities. Advancement of technology is boosting the demand for efficient fuels and lubricants, growing demand for fuel and lubricants will positively influence the tallow amines market. Rising urban population and increasing GDP growth has increased the construction activities and infrastructure spending, Increasing demand for asphalt boost the growth of tallow amine market. Growing Textile as well as Paints & Coatings industry will have a positive impact on the tallow amine market. Rapid industrialization across the globe is increasing the mining and exploration activities around the world, growth of mining industry will fuel the demand for tallow amine. Increasing number of regulations and imposition of ban on certain types of tallow amine in certain regions will hamper the growth of tallow amine market.

Tallow Amine Market: Regional Outlook

Agrochemicals and dyes & pigment production activities are growing in the Asia Pacific region. Also, in Asia Pacific there is significant rise in construction activities and infrastructural development, especially in the developing countries such as China & India. Rising mining activities coupled with above factors is estimated to make Asia Pacific a prominent market region for tallow amine market. Despite being the matured market Europe and North America can be considered as potential market regions owing to increasing demand for fuel & lubricants, dyes & pigments and rising construction activities. The regions of Africa are very rich in terms of natural resources reserves and there are several countries in Africa which have untapped natural resource reserves, owing to which there is substantial number of mining activities ongoing in Africa, also there is rise in the number of agrochemical industry in the regions such as Middle East and Africa, owing to which Middle East and Africa can be considered as promising market for tallow amine.

Tallow Amine Market: Key Participants

Examples of some of the market participants operating in the global Tallow Amine market are:

Kao Chemicals
Oriental Union Chemical Corporation
SINO-JAPAN CHEMICAL CO.,LTD.
JiangYin HuaYuan Chemical Co.,Ltd.
Lantian Finechem, Shandong paini Chemical Co., Ltd.
Shandong Kerui, Prasol Chemicals Pvt Ltd.
Huntsman International LLC

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The Tallow amine market research report presents a comprehensive assessment of the Tallow amine market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Tallow amine market research report provides analysis and information according to Tallow amine market segments such as geographies, applications and industries.

The Tallow amine Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Tallow amine market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Tallow amine market segments and geographies.

Tallow Amine Market Key Segments

By Grade:

Reagent Grade
Industrial Grade

By Form:

Solid
Liquid

By Application:

Emulsifier
Cationic collector
Additives
Anti-caking agent
Corrosion inhibitor
Thickener
Anti-static agent

By End-Use:

Mining
Fuel & Lubricants
Construction
Dyes & Pigments
Agrochemicals
Others

By Region:

North America
Latin America
Asia Pacific
Europe
Middle East and Africa(MEA)

Upcoming Trending Topics:

According to Future Market Insights research, during the projected period, the global polyurethane (PU) adhesives market is set to top a valuation of US$ 9.63 Billion in 2022, and further expand at a CAGR of 6.1% from 2022 to 2032.

The global market for alkyl acrylate was valued at US$ 8.75 Billion in 2022 and is expected to reach US$ 16.43 Billion by 2032. This is expected to happen at a CAGR of 6.5% from 2022 to 2032.

According to Future Market Insights’ most recent market study, the global market for Aerospace Adhesives and Sealants is expected to reach US$ 921.4 Million in 2022 and grow at a CAGR of 5.1% between 2022 and 2032.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani

Global Magnetic Materials Market to Surpass US$ 40,286 million by 2033, Propelled by Technological Advancements and Industrial Applications

By 2033, the magnetic materials market is anticipated to be worth more than US$ 40,286 Million. During the evaluation period from 2023 to 2033, it is set to generate an absolute dollar potential of US$ 20,441 Million. In 2023, it is anticipated that the market for magnetic materials will reach a value of around US$ 19,845.2 Million. In the forecast period from 2023 to 2033, it is expected to cross a CAGR of 7.3%. Sales of magnetic materials are anticipated to increase due to rising demand from the electronics and petroleum industries. Businesses can save money by using this technology to eliminate waste and optimize energy use.

Other materials such as steel or iron can be drawn to or repelled by magnetic elements. Magnetic materials have a wide range of practical applications, particularly in transformers, motors, and generators. They are extensively used in data storage devices, speakers, and MRI equipment.

Consumer devices such as cell phones, computers, and tablets are in high demand. Permanent magnets, magnetic sensors, and magnetic storage components are just a few of the magnetic components used in these gadgets. Demand for these materials is projected to increase as they are important parts of electronic products.

The use of renewable energy sources such as solar and wind power is expanding globally. It is hence projected that the use of magnetic materials in generators, wind turbines, and other energy systems will increase.

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The market for electric cars (EVs) is growing as environmental awareness among modern consumers increases. For their electric motors and powertrains, EVs significantly rely on magnetic materials, particularly rare-earth magnets.

The need for magnetic materials is increasing along with the trend toward industrial automation. They are utilized in actuators, sensors, and motors for robotics and manufacturing automation.

Demand for magnetic materials is expected to increase as infrastructure, including transportation & communication networks and power grids are developed. These are intended for use in transformers, motors, and other machinery.

Demand for smaller, more effective magnetic materials is anticipated to increase with the growing trend toward shrinking of systems such as sensors and actuators.

Demand for consumer electronics and other devices that rely on magnetic materials is rising as raw materials become cheaper developing nations. The market for magnetic materials is anticipated to hence expand significantly until 2033.

Key Takeaways in Magnetic Materials Market:

From 2018 to 2022, the global magnetic materials industry was reported to expand at a CAGR of 7.9%.
China magnetic materials industry is expected to spur at a CAGR of 14.4% in the forecast period.
Germany magnetic materials industry is anticipated to expand at a sizable CAGR of 5.8% over the estimated period.
The United States market is likely to exceed a valuation of US$ 6,447.5 Million by the end of 2033.
By product type, the permanent magnetic materials segment is expected to account for more than 70% of the global market share in the assessment period.

“One of the biggest consumers of magnetic materials is the auto industry. Requirement for magnetic materials is anticipated to increase along with the need for electric vehicles. It is anticipated that growing use of renewable energy sources such as wind turbines and solar panels will further increase demand for magnetic materials,” – Future Market Insights (FMI).

Competitive Landscape:

Manufacturers have started to concentrate on acquisitions in recent years to expand their product lines in the global magnetic materials market. To increase production efficiency and cut costs, they are also implementing cutting-edge automation and robotics technology.

A few new players are making significant investments in research initiatives to produce new and improved magnetic materials that are more effective, long-lasting, and affordable. To fulfill the evolving needs of their clients, they are always reinventing their products by introducing new shapes, sizes, and materials.

For instance,

A new kind of magnet made without rare earth elements was created by Hitachi Metals in October 2020. The magnet is referred to as RE-free. According to the manufacturer, rare earth metal-free magnets have high magnetic qualities that are comparable to those of regular magnets.

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Key Companies Profiled:

Advanced Composites Inc.
AGY Holdings Corp.
Jushi Group
TDK Corp.
Magnetics, Inc.
Arnold Magnetic Technologies, Corp.
Magnetics, Inc.
Taishan Fiberglass Inc
Beijing Zhong Ke San Huan
Advanced Materials and Technology Co., Ltd
Electron Energy Corp.
Hengdian Group DMEGC Magnetics Co., Ltd
ASAHI FIBER GLASS Co., Ltd
Nippon Electric Glass Co., Ltd
Owens Coming
Saertex Group

Market Outlook by Category:

By Product Type:

Soft Magnetic Materials
Iron-Si Alloys (Electrical Steel)
Ni-Fe Alloys
Amorphous and Nano Crystalline Alloys
Soft Ferrites
Permanent Magnetic Materials
Alnico
Nd-Fe-B
SmCo Type
Ferrite

By Application:

Transformers
Drives and Motors
Generators
Relays
Inductors
Communication Equipment
Data Storage Devices
Medical Devices and Equipment
Electronic Equipment / Appliances and Accessories
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia and the Pacific
Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani

Global Chloromethane Market Set to Surge to US$ 8.8 Billion by 2032, Fueled by Expanding Silicone Elastomer Demand Across Automotive and Construction Sectors

The global chloromethane market size is expected to reach a valuation of US$ 8.8 Billion by 2032, with the demand growing at a standard CAGR of 5.2% from 2022 to 2032. Valued at US$ 5 Billion in 2021, the target market scaled up to US$ 5.3 Billion in 2022. Heightened demand for silicone elastomers across different industrial verticals, particularly from the automotive and construction industries, is expected to facilitate the growth of the chloromethane market during the forecast period.

Chloromethane is used as a chemical intermediate to produce derivatives like chloroform, methylene chloride, and carbon tetrachloride. The chemical is also used in the production of silicone. With rapid industrialization taking place across the globe, the demand for these derivates of chloromethane- chloroform, methylene chloride, and carbon tetrachloride -is expected to rise which, in turn, will augur well for the target market. Furthermore, as chloromethane is also used to produce silicone, the demand for chloromethane will likely continue to rise in the automobile and electronics sectors as these industries make considerable use of silicone.

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Again, silicones also find application in the construction industry which facilitates growth for the chloromethane market. In the construction industry, silicones are utilized for structural glazing and weatherproofing. Silicone also contributes towards the maintenance of energy efficiency of buildings, reduction of material waste, an extension of building life, and maintenance of in-shop productivity. Thus, with the expansion of the construction sector, the use of chloromethane to produce construction-grade silicone is anticipated to grow over the upcoming decade and push the overall market growth.

Additionally, the pharmaceutical industry is projected to drive the expansion of the global chloromethane market size. A prime use of chloromethane in the pharmaceutical sector is the manufacturing of chloroform, a very popular anesthetic. Chloromethane is also utilized as an intermediate in the manufacturing of medicinal drugs. All of these factors, along with others, will induce growth for the chloromethane market during the forecast period.

“Surging use of chloromethane as a local anesthetic and as an intermediate in drug manufacturing will fuel the global growth of the chloromethane market over the forecast period,” says an FMI analyst.

Key Takeaways in Chloromethane Market:

High volatility and adverse effects of chloromethane on the environment are aspects that will deter the growth of the target market during 2022-2032.
High demand for electronics and automobiles will drive Asia Pacific’s chloromethane market to grow at a CAGR of 5% during the assessment period.
The chloromethane market in Europe will experience notable growth with Germany accounting for a major portion of the growth.
Increasing adoption of hydrofluoro olefins, a better sustainable refrigeration substitute for CFCs, will generate greater market prospects for the chloromethane market.

Competitive Landscape in Chloromethane Market

Some of the major players in the chloromethane market are profiled in the full version of the report

AkzoNobel N.V.
Asahi Glass Co. Ltd.
Dow Chemical Company
Gujarat Alkalies & Chemicals Ltd.
Ineos
Solvay S.A.
Shin-Etsu Chemical Co. Ltd.
Tokuyama Corporation

In a highly competitive market, prominent market players are concentrating on adopting various organic and inorganic business strategies to strengthen their market presence. A few of these participants account for a sizeable portion of the market.

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More Insights into Chloromethane Market

In its latest report, FMI offers an unbiased analysis of the global chloromethane market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type, application, and region.

According to the report, based on regional segmentation, the chloromethane market in the Asia Pacific region will exhibit substantial growth during 2022-2032. The target market in this region will record a CAGR of 5% during this period. Factors such as the ample availability of livestock and the significant availability of shale gas reserves in China immensely influence the growth of the chloromethane market. Further, many countries like India offer raw materials and skilled labor at inexpensive rates which fuel the target market growth in Asia Pacific. Besides, Europe’s chloromethane market will also demonstrate notable growth during the assessment period primarily due to the extensive application of chloromethane in pharmaceutical industries, especially in Germany. Thus, demand for chloromethane in the chemicals, pharmaceuticals, and other industries will propel the chloromethane market growth during the forecast period.

Key Segments Profiled in the Chloromethane Industry Survey

Product Type:

Methyl Chloride
Methylene Chloride
Carbon Tetrachloride
Chloroform

Application:

Silicones
Agriculture Chemicals
Pharmaceuticals
Chemical Intermediate
Personal Care
Other Applications

Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East & Africa

Upcoming Trending Topics:

At a CAGR of 5% from 2022 to 2032, the maleic anhydride market is anticipated to increase from US$ 4.87 billion in 2022 to US$ 5.49 billion by 2032.

FMI anticipates the worldwide sales of SiC fiber will be worth around US$ 1,710 Million by the year 2032 by registering a CAGR of 9.5% during this period.

The current valuation of the fireproof insulation market in 2022 is US$ 27.5 billion and it is projected to grow at a modest CAGR of 3.5% during the forecast period to reach a market value of US$ 38.79 billion by 2032.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani