Market News Point

A number of factors, such as the growing construction industry, booming hospitality and tourism sectors, surging concern toward sound and healthy sleep, and increasing prevalence of back and spine problems, across the country, are expected to drive the growth of the U.S. mattress market at a CAGR of 4.8% during the foreseeable period (2020–2030). According to P&S Intelligence, the market generated $16,716.5 million revenue in 2020, and it is expected to reach $26,790.4 million by 2030.  One of the prime factors aiding the U.S. mattress market growth is the surging construction industry. For instance, as per the U.S. Census Bureau, construction spending reached $1.324 trillion in 2019, from $1.271 trillion in 2018 in the country. Moreover, the spending on private construction was 1.6% more in 2019 as compared to 2018. Likewise, residential construction spending was 2.7% higher in 2019, than the previous year. The data states that the construction sector is observing notable growth

A number of factors, such as the slow charging process at charging stations, need for less time consumption in charging and lower upfront cost of electric vehicles (EVs), less availability of proper charging infrastructure, and rise in investments in the manufacturing of lithium-ion batteries, are driving the electric vehicle battery swapping market, which valued ~$150 million in 2020. The battery swapping technology acts a suitable substitute for supplying power to EVs as it eradicates the requirement of slow-charging stations.  The market is currently witnessing a trend of technological advancements. The advancements in battery swapping technologies are allowing drivers to swap the discharged batteries at a dedicated swapping center with charged ones. This enhances the EV’s uptime, while reducing its operational costs. Additionally, the increasing sales of EVs, falling prices of batteries, and improving technologies are projected to drive the need for battery swapping technologies ac

Celiac disease or gluten sensitive enteropathy refers to an autoimmune ailment that affects genetically predisposed people, whose small intestine is damaged due to the ingestion of gluten. It is a hereditary disease and can develop at any age after individuals start consuming food items or medicines that contain gluten. According to the Celiac Disease Foundation, this disease affects 1 in 100 people worldwide. As per this foundation, the only treatment for this illness is lifelong adherence to a gluten-free diet.  The increasing incidence of celiac disease will, therefore, help the gluten-free products market progress in the upcoming years. To cater to the needs of people living with gluten sensitive enteropathy, Alara Wholefoods, Glutamel, General Mills Inc., Domino's Pizza Inc., H.J. Heinz Company, and Kelloggs are offering gluten-free products globally . The labelling of these products varies from country to country. For example, in the U.K., food products containing less than 2

These days, the adoption of animal as pets has been increasingly rapidly, as people are getting more attached to animals. A number of studies have shown that adopting a pet make a person happier and even elongate their lives. Pets are of specific help to people who suffer from stress, depression, anxiety, or any other mental health issue. The affectionate nature of pets, especially dogs, can considerably aid in dealing mental health issues. Furthermore, pets can have a significant effect on the psyche of children and can help them in learning valuable life lessons.  Just like humans, animals suffer from health problems and need regular health checkups, which is why the animal pharmaceuticals market is growing rapidly. Pharmaceuticals for animals are utilized for treating, diagnosing, and curing veterinary disorders and diseases. In addition to this, the consumption of protein-rich foods, such as meat, eggs, and milkis on a rise all across the globe. Animals that are reared for the purp

The surging prevalence of foodborne zoonotic diseases in the U.S. is creating a huge requirement for animal healthcare products. Such diseases are caused by the intake of water or food contaminated by pathogenic microorganisms, such as viruses, parasites, and bacteria. These disease-causing microorganisms enter the animal body through the gastrointestinal tract, where the initial symptoms are observed. Most common foodborne zoonotic diseases are caused by listeria, salmonella, E. coli, campylobacter, yersinia, trichinella, cryptosporidium, toxoplasma, giardia, and toxins of Clostridium perfringens, Bacillus cereus, Staphylococcus aureus, and Clostridium botulinum, which can be eliminated by certain animal healthcare products.   Additionally, the increasing domestic consumption and export of meat and milk will support the U.S. animal healthcare market growth in the coming years. For instance, according to the U.S. Meat Export Federation (USMEF), between January 2021 and May 2021, the co

Greening the earth is arguably one of the biggest trends today. While the literal meaning of ‘green earth’ might hint at reforestation, the concept also includes bringing down the pollution levels. Now, since automobiles are one of the biggest sources of air pollution, a major change is being brought about in their functioning. Their internal combustion engines (ICE), which burn gasoline and diesel, and, therefore, release greenhouse and toxic gases into the atmosphere, are being gradually replaced with electric batteries and motors. To achieve this, governments around the world are implementing stringent emission regulations, which are making conventional automobiles costlier every year, and offering financial support to boost the manufacturing and sales of electric vehicles (EVs). P&S Intelligence expects the electric scooter and motorcycle market size, driven by all these factors, to rise from $5,913.9 million in 2019 to $10,529.7 million by 2025 , at a 14.4% CAGR between 2020 a

With more than 1.3 million people dying in road accidents each year, as per the World Health Organization (WHO), the focus on making roads safer is strengthening. Since most of the accidents are attributed to human error, many governments are mandating the adoption of some level of vehicle autonomy so that the burden on the driver can be reduced. Such awareness and the increasing inclination of people for improved vehicles are leading to the integration of advanced driver assistant systems (ADAS), which automate many functions of automobiles and display real-time information. As per P&S Intelligence, this will be a key reason behind the growth of the automotive data logger market during 2020–2030, since valuing around $3 billion in 2020. This device is similar to the all-important flight data recorder (FDR) in airplanes, which records what happens to the aircraft systems with every push of the button or foot-operated pedal, shift of the stick, push or pull of the lever, and turn o

The U.A.E. fragrance market revenue stood at $720.2 million in 2020 and it is predicted to demonstrate a CAGR of 8.3% from 2020 to 2030 (forecast period). The market is being driven by the soaring investments being made in marketing and advertising initiatives, particularly on digital channels, increasing disposable income of people, surging consciousness of people toward grooming, and burgeoning requirement for natural, environment-friendly, and custom-made perfumes across the region. The growing public awareness about the necessity of grooming is a major growth driver of the U.A.E. fragrance market. Fragrances improve self-esteem and positively impact the overall personality of people. Moreover, fragrances also help in improving personal hygiene. Besides, the surging digital marketing activities are also propelling the advancement of the U.A.E. fragrance market. Many fragrance producing organizations are turning to digital marketing for gaining relevant information, growing their op

The International Organization of Motor Vehicle Manufacturers (OICA) recorded that a total of 21,787,126 commercial vehicles and 55,834,456 cars were manufactured in 2020. The manufacturers of these vehicles are increasingly shifting from heavy metals to lightweight plastics for vehicle interiors, to reduce the overall vehicle weight. The reduction of the vehicle weight helps in enhancing the fuel efficiency. With the rising awareness on the alarming air pollution levels and depleting fossil fuel reserves, customers are increasingly opting for lightweight vehicles. Thus, the booming demand for lightweight vehicles will add to the prosperity of the automotive plastics market in the foreseeable future. Automakers use polybutylene terephthalate, polyurethane, polypropylene, acrylonitrile butadiene styrene, polyvinyl chloride, polycarbonate, high-density polyethylene, and polyamide to reduce the automobile weight. In the coming years, automobile manufacturers will adopt a significant volum

According to the World Economic Forum (WEF), electric bike (e-bike) sales in the U.S. grew by 145% during 2019–2020. The organization further predicts that annual e-bike sales in Europe could surge from 3.7 million in 2019 to 17 million by 2030. The increasing adoption of the new-energy-based two-wheelers can be attributed to the surging government subsidies and financial incentives being offered to manufacturers and consumers of the e-bikes. For instance, the Government of Sweden will offer a subsidy of 25% (up to $1,119) on each e-bike purchased by its citizens, till the end of 2021. Moreover, the rising deployment of such two-wheelers in shared mobility fleets, owing to the mounting environmental concerns, will also help the e-bike market to advance at 10.3% CAGR during the forecast period (2020–2025). According to P&S Intelligence, the market revenue will increase from $14.4 billion in 2019 to $25.9 billion by 2025. Furthermore, governments of several nations are putting variou

Neem extracts are being increasingly used in the production of bio-pesticides due to their ability to exhibit unparalleled insecticidal effects. As these extracts act as nonneurotoxic pest control agents, they are being preferred over chemical-based bio-herbicides, bio-fungicides, and bio-insecticides. Neem extracts have antifeedant and deterrent effects on many insects, especially the ones belonging to the polyphagous species. Thus, the surging public awareness about the harmful effects of fertilizers and pesticides and the increasing requirement for soil and water preservation, will create a huge demand for neem extracts in India in the foreseeable future. Moreover, the rising shortage of animal feed, on account of the burgeoning demand for animal products, is creating a huge requirement for an alternative feed, such as neem extract-based feed. Neem extract is one of the most ideal plant-based feeds as it helps in facilitating the growth of animals. Additionally, the soaring number o

With the burgeoning requirement for video surveillance for road safety purposes, the sales of vehicle cameras are predicted to surge sharply in the coming years. The increasing prevalence of road accident is pushing up the requirement for technologies and systems that can improve vehicle safety. According to the World Health Organization (WHO), around 1.3 million deaths are recorded every year because of road crashes. The organization also reported that road accidents are the leading cause of deaths for young adults aged between 5 and 29 years and children. Additionally, the sales of vehicle cameras are also being driven by the rapid advancements being made in complementary metal oxide semiconductor (CMOS) image sensors that are incorporated in automotive cameras. Besides, the rising focus of automakers on replacing side view mirrors with cameras and the increasing focus of governments and insurance companies on the incorporation of cameras in automobiles are also fueling the demand f