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Running Shoes Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2032

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Running Shoes Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2032

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The Running Shoes Market is estimated to reach US$ 44,254.3 Million in 2022. As per the report, sales are forecast to increase at a robust 4.50 % CAGR, with the market valuation reaching US$ 68,725.6 Million by 2032.

Running shoes are footwear made specifically for jogging and running. Running shoes protect the front and back of your foot while allowing for forward motion. They might help in the prevention of tendinitis, shin splints, stress fractures, and other problems. They are sold in supermarkets, hypermarkets, specialty shops, brand outlets, and online channels and are used by adults, women, and children. For road, trail, and all-terrain use, Hoka makes both low-profile and max-cushion shoes.

Across the board, Hoka shoes maintain characteristics like a low weight-to-cushion ratio and midsole and outsole geometry created to encourage natural stability and an effective stride. The shoes were first preferred by ultramarathon runners because of their improved cushion and built-in stability, but they quickly gained favour with other runners since they provide the most cushion for the least amount of weight. In addition to the brand's original, highest-cushion models, lighter-weight shoes that nonetheless maintain a large portion of the brand's distinctive cushion are now available in the Hoka collection, along with lightweight training shoes, racing shoes, and track spikes.

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Product demand is expected to rise as consumers become more aware of how sports and fitness can improve health and lower the risk of chronic diseases. Running shoes are likely to be in high demand throughout the forecast period as a result of consumers realising how important the right equipment is to prevent muscular soreness, knee and leg pain, and other problems.

Running shoe producers are putting more effort into creating footwear that are stable and comfortable. To draw in additional customers, several manufacturers also provide customisation options. The market for running shoes is anticipated to increase during the forecast period as a result of company sales expansion and novel product launches through online channels, marketing campaigns, and promotional methods.

"North America will drive the Running Shoes market to greater heights because of its advancements in technology, sports events and fitness freaks that make the shoes market grow easily." Says an FMI analyst.

Impact of COVID-19

The COVID-19 epidemic has had a negative impact on a number of industries, including the global market for athletic footwear. Global manufacturing centres were experiencing a significant negative impact. The first is the epidemic-related suspension of operations. Then, an increasing number of international consumers are cancelling orders because they are unable to sell or store goods. Additionally, companies like Adidas, Nike, and Puma observed a fall in customer demand for sports footwear as a result of consumers' reduced or postponed discretionary expenditure in response to COVID-19's effects.

Who is winning?

Leading players operating in the Running Shoes Market are Adidas AG; ASICS Corporation; Fila Inc.; Under Armour, Inc.; Lotto Sport Italia S.p.A; New Balance Athletics, Inc.; Vans, Inc.; Nike, Inc.; Puma SE; and Reebok International Ltd. and among others.

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Future Market Insights, in its new offering, provides an unbiased analysis of the Running Shoes Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on Running Shoes Market by Type (Road, Treadmill, Trail, Mud, Snow) By Waterproofing (Water Repellent, Waterproof) By Consumer Orientation (Men, Women and Kid) By Price Range (Below US$ 20, US$ 20 – US$ 50, US$ 50 – US$ 100, Above US$ 100) & Region - Forecast to 2022 – 2032.

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Luxury Fine jewellery Market Key Leaders Analysis, Segmentation, Growth, Future Trends, Demands, Emerging Technology by Regional Forecast to 2032

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Luxury Fine jewellery Market Key Leaders Analysis, Segmentation, Growth, Future Trends, Demands, Emerging Technology by Regional Forecast to 2032

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According to Future Market Insights, the global luxury fine jewellery market size is projected to expand at a CAGR of 6.5% over the forecast period (2022-2032), reaching a valuation of US$85,887.5 Mn by the end of 2032.

Growth in the market is driven by changing consumer behavior and fashion trends, growing demand for used jewellery, and the trend of jewellery businesses prioritizing social media and celebrity collaborations.

During the shutdown, sales of used jewellery increased, especially in the fine vintage market, reflecting consumers' desire for ethical purchasing as well as potential savings. A preoccupation with vintage jewellery and archival culture is on the increase in 2022, due to the advent of e-commerce, resistance to incessant new-season products, and a yearning for more meaningful luxury.

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Fashion lovers are working hard to get rare collectibles, fine couture, and statement jewellery that can be customized and made even more distinctive as investment purchases. An increase in auction concepts is being fueled by the allure of vintage goods and archive-based materials and experiences. These concepts are intrinsically linked to the thrill of telling a story through objects and scrambling to find a treasure, something that is missing from the accessibility of objects in today's world.

Never before has social media been more crucial to all brands, across all industries. One of the best methods for boosting brand recognition and reaching new audiences is to design campaigns with a social media focus.

Companies are employing many tactics to expand their customer base and transform the jewellery industry. For instance, in 2015, Missoma, a demi-fine jewellery company aimed at women in their 20s and 30s, switched from being mostly a wholesale brand to being 95% online. According to the brand's founder Marisa Hordern, this helped the company identify and understand its target market.

The company used a strong influencer approach, giving gifts to women who were properly vetted and matched the brand's look and ideals. Additionally, they were among the first brands to go a step further and create a unique collection in collaboration with an influencer.

“Key luxury fine jewellery companies are branding through social media platforms and celebrity endorsements to expand their global reach. Besides this, they are offering customized products to increase their customer base”, says an FMI analyst.

Who is Winning?

Leading manufacturers of luxury fine jewellery are focused on new product launches, aggressive promotional strategies, and advertisements to gain a competitive edge in the global market

Leading players operating in the global luxury fine jewellery market are Richemont, Guccio Gucci S.p.A., The Swatch Group Ltd., Pandora Jewelry, LLC, GRAFF, Louis Vuitton SE, Signet Jewelers Limited, Chopard International SA, MIKIMOTO, Tiffany & Co., and Chopard International SA among others.

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Italy Tourism Market Key Leaders Analysis, Segmentation, Growth, Future Trends, Demands, Emerging Technology by Regional Forecast to 2032

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Italy Tourism Market Key Leaders Analysis, Segmentation, Growth, Future Trends, Demands, Emerging Technology by Regional Forecast to 2032

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The global Italy tourism market is anticipated to propel at an impressive CAGR during the forecast period from 2022 to 2032. The global market registered a valuation of US$ 23.1 Billion by the end of 2022 and is estimated to reach around US$ 43.8 Billion in 2032. Nearly 8 million travelers visited Italy in the first half of 2022 amounting to US$ 5.4 Billion.

According to the latest updates conducted by Future Market Insights, over the coming year, around 92 million arrivals are expected to happen, with 343 million overnight stays in Italy. In addition to that, with surging awareness of sustainable tourism in Italy and other European regions, the overall demand is forecast to increase at a prolific CAGR between 2022 and 2032.

According to the historical analysis conducted by Future Market Insights, on average, each of the tourists arriving in 2020 spent about $450 dollars. Conversely, the inhabitants of Italy spend as much as $511 dollars a year when they themselves spend vacations abroad. Such high-spending on-tourism activities is in turn helping the growth of the regional market.

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Furthermore, various other tourism activities such as culinary tourism, and casino tourism among others are considered to bolster sectors in the country attracting a large pool of consumers and alternatively, boosting the local market. The market witnessed a growth rate of around 5.1% during the historic period of 2017 to 2021.

Italy is known to welcome tens of millions of visitors every year from all over the globe on the basis of its approximately 7600 kilometers of coastline and location on the Mediterranean Sea. Additionally, the population of Northern European nations is specifically attracted to Italy because of its lovely climate. Italy’s unique history and culture and architecture are well-known on a global scale. In the nation, there are more than 100,000 historical sites, many of which are remnants of the former Roman Empire. Various such factors are attracting global tourists to the country’s enriching travel destinations, thus, contributing substantial revenue toward market growth.

Competitive Landscape

Various travel and tourism companies are assuring a safe and affordable travel experience in Italy. Some of the top tour operators offer fascinating travel packages and offers distinctive travel packages around Europe, America, Asia, and the Middle East.

More Insights into the Italy Tourism Market

Foreign visitors are anticipated to dominate the Italy tourism market as they account for a significant share of around 44% in the overall Italy tourism market.

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Contact Lenses Market Key Leaders Analysis, Segmentation, Growth, Future Trends, Demands, Emerging Technology by Regional Forecast to 2029

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Contact Lenses Market Key Leaders Analysis, Segmentation, Growth, Future Trends, Demands, Emerging Technology by Regional Forecast to 2029

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The global contact lenses market is set to reach US$ 12.5 Bn in terms of revenues by the end of 2029. A new Future Market Insights (FMI) study reveals that the contact lenses market will see a moderate CAGR over 2029. Soft contact lenses are the most prescribed contact lenses, while toric lens designs are significantly gaining popularity over the recent past. The latter are gaining traction attributing to their properties to correct mixed astigmatism.

Moreover, these lenses are fashionable, serve various purposes owing to their anti-radiation (block UV rays) properties, and abilities to filter dim lights and work on miniature components. Demand for silicone hydrogel contact lenses is also on a constant rise, as they reduce the risk of hypoxia related eye problems.

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Growing prevalence of myopia among young children and elderly demographic will continue to create significant opportunities for prominent players in the contact lenses market. Daily wear soft contact lenses made of flexible plastic that enables oxygen to pass through the eyes are gathering traction in market. Besides such innovations, online sales will help manufacturers reap sizeable profits in the global market.

Smart Contact Lenses Gaining Traction

Contact lens companies have been introducing novel products in the market, attributable to R&D advancements. Smart contact lenses represent one such innovation that continues to gain popularity worldwide. These lenses do not require surgery and can be inserted or removed by users. Researchers from the Harbin Institute of Technology in China and the University of California San Diego are developing innovative biomimetic smart soft contact lenses that users can zoom in and out by simply blinking.

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Future Market Insights, in its new offering, provides an analysis of the global contact lenses market, presenting historical demand data (2014-2021) and forecast statistics for the period of 2022-2029. The report on the global contact lenses market reveals compelling insights on the basis of product type (soft lenses [daily wear and extended wear] and gas permeable), design type (spherical, toric, multifocal, and others), wear type (disposable and reusable), and sales channel (online [e-Commerce portal and company owned portal] and offline [exclusive stores and multiband stores]), across seven major regions.

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Leather Sneakers Market Key Leaders Analysis, Segmentation, Growth, Future Trends, Demands, Emerging Technology by Regional Forecast to 2032

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Leather Sneakers Market Key Leaders Analysis, Segmentation, Growth, Future Trends, Demands, Emerging Technology by Regional Forecast to 2032

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As per newly released data by Future Market Insights (FMI), the Leather Sneakers Market is estimated at USD 449.2 million in 2022 and is projected to reach USD 697.6 million by 2032, at a CAGR of ~4.5% from 2022 to 2032.

Sneakers are well-known for their athletic capabilities, fashionable appearance, and comfort when participating in physical activities. Leather shoes, on the other hand, are regarded as exquisite and high-class footwear. Leather sneakers are the ideal blend of athleisure and formal footwear.

These shoes provide comfort and a perfect fit, with the added benefit of leather, which is weather resistant, far more durable than other materials, and has a beautiful appearance. Some trending significant factors for the leather sneakers market are post-covid effect on fashion trends and rising adoption of comfy footwear.

Customised leather sneakers are gaining popularity among big spenders and sneaker enthusiasts, helping the market to grow.

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On the other hand, it is expected that the availability of locally manufactured, replicated, or phoney products would limit market growth. Also, alternatives to the genuine leather as artificial leather made from plastic and other materials are impacting the market. Increasing awareness of the animal cruelty among people is ultimately increasing the demand for cruelty free products. The COVID-19 outbreak had many countries to regulate the import and export, ultimately affecting the raw material supply chain, posing a challenge for the Leather Sneakers industry.

“Leather sneakers are becoming increasingly popular across the world. The versatility of these shoes, as well as the desire for versatile items in the post-Covid era, will benefit the leather sneakers industry.” Says an FMI Analyst.

Impact of COVID-19 on the Market

Many sectors were temporarily closed due to the COVID-19 pandemic. Because the virus spreads through touch and air, public venues were closed. Public transit was governed by rules, and public gatherings were prohibited. Lockdown eventually led to a desire for comfier footwear. After the lockdown ended and normal life resumed, individuals began wearing sneakers, since they are both comfortable and adaptable. People wear leather shoes to be active while also getting a comfortable fit and a high-end style. Manufacturers are creating shoes for various purposes and activities, which is growing demand. The import and export of raw materials and shoes were also restricted owing to government laws in several nations. All of these variables have an impact on the Leather Sneakers market.

Who is winning?

Leading players operating in the sneaker market Hermès International S.A., Salvatore Ferragamo S.p.A., Crockett & Jones, Kering S.A., Bruno Magli, Prada Holding B.V., Cole Haan, PROVOGUE, Genesco Inc., LVMH, DModot, Allen Edmonds and among others.

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Future Market Insights, in its new offering, provides an unbiased analysis of the sneaker market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the leather sneakers market by closure type (lace up, zipper, slip-on, others), sole material (rubber, polyurethane, leather, others), consumer orientation (men, women, kids), sales channel (hypermarket/supermarket, wholesales/distributors, specialty stores, multi-brand stores, independent small stores, online retailers, other) & region - Forecast to 2022-2032.

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Work Shoes Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2032

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Work Shoes Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2032

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As per newly released data by Future Market Insights (FMI), the Work Shoes Market is estimated at USD 417.6 million in 2022 and is projected to reach USD 680.3 million by 2032, at a CAGR of ~5.00% from 2022 to 2032.

The work shoes are primarily used to prevent injuries to the foot while working. These shoes are designed specifically according to the hazards in industries and manufacturing plants. These shoes have metal mesh or special plates, that protect toes and metatarsal area of foot. The metal layers or plates in the shoes protect the toes and foot against hazards that might cause serious damage.

To keep injuries under control and maintain workers' well-being, the government and companies are implementing safety measures and requiring the usage of safety equipment in the workplace. Workers are given specifically designed PPE kits, which include these work shoes. All of these safety precautions are required, and those who fail to do so face severe consequences.

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Manufacturers are making the work shoes according to the hazards at the work places. Some shoes provide insulation form extreme heat or cold, some are waterproof and antiskid, keeping user stable in wet and slippery conditions. The manufacturing industries and constructions sites are the most hazardous places, where work related accidents are very common.

The biggest market constraint is the availability of low-cost and counterfeit work shoes. Local producers employ low-cost materials to make these shoes, which they sell at a lesser price than authentic items. Customers prefer cheaper items over originals, and there is a risk of user injury.

“Many manufacturing industries are mandating the safety outfits in the premises to keep workers from injuries. Governments are also making sure that the work shoes used are up to the standards.” Says an FMI Analyst.

Impact of COVID-19 on the Market

COVID-19 has an influence on all industries worldwide. Regulations to limit the virus had an influence on the footwear sector as well. Work shoes were severely damaged when demand from the primary markets abruptly decreased. Many producers have to retain product in inventory and manage sales by forecasting future customer behaviour. As the market did not recover quickly after the pandemic, the manufacturers had to face losses, along with changed consumer preferences further having a negative effect on market,

The manufacturing companies, construction departments, and government agencies are the primary consumers of work shoes. As buildings and businesses throughout the world came to a halt, so did demand for work shoes. Regulations in the sales and distribution sectors have a significant impact on the work shoe industry.

Who is winning?

Leading players operating in the sneaker market Honeywell International, Dunlop Boots, Bata Industrials, Rock Fall, ACME Fabrik Plastic Co., Bova Safety Footware, W.L. Gore, Gabri Safety Shoes, Wolverine, V.F. Corporation, Simon Corporation and among others.

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Future Market Insights, in its new offering, provides an unbiased analysis of the sneaker market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the Work Shoes market by Application (Manufacturing, Construction, Mining, Others), Closure Type (Lace Up, Buckle, Hook and Loop, Others), Features (Slip Resistant, Flexible, Puncture Resistant, Breathable, Others), Sole Material (Rubber, Polyurethane, Leather, EVA, Others), Outer Material (Genuine Leather, Synthetic Material, Mesh, Other), Sales Channel (Multi-brand Stores, Independent Small Stores, Online Retailers, Others) & Region - Forecast to 2022-2032.

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Bar Accessories Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2032

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Bar Accessories Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2032

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The global bar accessories market is projected to amass revenue of about US$ 4.08 billion by 2032, up from US$ 2.4 billion in 2022, advancing at a CAGR of 5.4% during the forecast period.

Bar & Wine Accessories Market Overview As the wine continues to gain popularity and consumption, the keenness for the wine lifestyle is flourishing. Market players are seeing tremendous growth prospects in all associated product categories, particularly as wine cellars are now practically a staple in several homes.

Wine refrigerators are as regular as dishwashers, and wine accessories have become as important as silverware.

The global bar and wine accessories market is witnessing new accessories trends surfacing based on different shakers, glassware, and different bar accessories. Market players are developing different styles and utilizing different materials to market the accessories, which seems to be attracting consumers.

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Personalizing a shaker, a mug, or whiskey glass for a liquor enthusiast or else simply for the bar case is projected to be maneuvering towards printing companies when the requests for personalized barware comes through.

Bar & Wine Accessories Market – Growth Restraints

The availability of cheap and counterfeit substitute products of bar & wine accessories is projected to impede the market growth. The higher cost associated with the bar and wine accessories are unaffordable amid the middle class as well as low-income group customers.

Further, the maintenance cost concerning the accessories is higher, these factors are likely to hinder the growth of the bar and accessories market over the forecast period.

COVID-19 Impact on Bar & Wine Accessories Market

The COVID-19 pandemic has inflicted a nationwide lockdown mandate that has forced the wine sector to shift its focus toward online platform sales and digital marketing. As per recent market research, the alcohol e-commerce sector has multiplied in contrast to the previous year’s figure.

It further states that wine has encountered the biggest success, making up approximately 70% of the overall online retail sales.

While COVID-19 might have added more challenges, incorporating bottling and shipping delays, the company has been capable to keep their supply chain moving. The rise in wine sales has led to growth in the bar and wine accessories market.

Bar & Wine Accessories Market – Region-wise Analysis

North America and Europe will remain dominant in the global bar and accessories market due to an increase in production and consumption of wine in the region. According to Statista, the wine accessories sale in the U.S. retail is amounted to about US$ 314.4 MN in 2019. The figure is estimated to grow during the forecast period.

Growing consumer base will inflate the market scope of the bar and wine accessories market to continue the momentum of growth in the Asian and other developing regions over the assessment period.

Market players are focusing on new product launches to gain a competitive edge over others.

For instance, Home Brew Ohio has introduced Keg Dry-Hopping Filter made from Stainless Steel. The 300-micron stainless steel mesh lets hop-oils to flow into beer yet holds the hop material inside. The filter holds around two ounces of a leaf.

Thirstystone has launched its barware collection available in stainless steel, marble finishes as well as leather exchange. Hydro Flask has launched its new cooler cup made from durable 18/8 Pro-Grade Stainless Steel construction that works as a bottle or can cooler along with a 12 oz beverage cup.

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Travel Expenses Processing Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2032

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Travel Expenses Processing Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2032

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The Travel Expenses Processing Market is currently forecasted to grow at a rate of ~10% CAGR during the forecast period 2022 to 2032. The travel expenses are connected to going on business trips to conferences and meetings. The main expenses are transportation, accommodation, fares and fees requires for admission for some events and sometimes food is also included or partially expended. All these expenses are provided by organizations to employees, and the records for these expenses are kept for tax deduction on that amount.

The regulations governing expense deductions vary by nation, and all organizations are aiming to offset the cost of their expenses with tax. Organizations must provide a thorough report of employee travel expenses in order to qualify for a tax deduction grant. To keep track of all these expenses, organizations prefer using software's which track expenses, form a report and also suggest strategies and budget related decisions, when required data is provided.

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"Travel Expenses management softwares are the best solution available for organisations to plan and execute budgets for corporate travelling" - FMI Analyst said.

Impact of COVID-19

COVID-19 has adverse effects on about all industries, and long term effects are observed on tourism and transportation industries. The pandemic was declared over after a year, but emergence of new variants of virus led to expansion of lockdown around the world. Some countries have strict rules for travelling and public gatherings.

Corporate travel is impacted by all of these issues as well. During lockdown, the staff members worked from their homes, and they now choose to work remotely. Employees prefer virtual meetings over travelling to various cities and countries to attend meetings for two reasons: the digitalization of work and sense of personal wellbeing. Because they are proven to be cost-effective, several firms are also favoring these communication techniques.

Even though, less travelling during pandemic has not reduced the expenses. The expenses are now directed towards the work setups required to employees while working from home and the new technologies required for them to work efficiently. These are proving to be complex situation for organizations and finance departments, to decide whether these expenses can be claimed for deduction or not.

Who is winning?

The important software companies providing expense management and tracking softwares in Travel Expenses Processing sector are Chrome River Technologies Inc., Coupa Software Inc., Infor, TravelPerk, Fyle, TravelBank, Zoho Expense, etc.

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Online Laundry Services Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2033

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Online Laundry Services Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2033

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The global online laundry services market garnered a market value of US$ 31 Billion in 2023 and is expected to accumulate a market value of US$ 450 Billion by registering a CAGR of 30% in the forecast period 2023-2033.

A recently published study by FMI expects the global online laundry services industry to augment at a 30% CAGR from 2023 to 2033. By the end of the said assessment period, a valuation of US$ 450 Billion is expected for the market.

The online on-demand home services market for laundry includes firms who offer easy laundry cleaning services and operate in the digital marketplace, which mostly consists of applications and web portals. Customers may easily obtain laundry or dry-cleaning services by utilising the app or online web portals. An on-demand laundry business permits doorstep pickup and delivery of garments by engaging delivery experts and collaborating with local laundry suppliers.

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The rising demand for clean and fragrance-based clothes has compelled customers to invest in these amenities. Increasing penetration of internet-based devices and e-commerce operations, online services providing various facilities incorporating consumer convenience such as free pick and delivery services, increased availability of seed and venture capital funding, increased consciousness and command for eco-friendly laundry detergents, and promotion of a safe and healthy lifestyle among consumers are some of the important and significant aspects that are anticipated to boost the growth of the online laundry service market in the forecast period.

Moreover, increasing awareness about healthy and hygienic lifestyles, as well as rising usages of laundry product or service for enhancing fabric life and hygiene via washing and cleaning dirt, would all contribute to the expansion of the online laundry service market in the forecast timeline. In addition, North America leads the online laundry service market due to a shifting consumer trend toward scented lifestyle, a growing number of health-conscious customers, and increased investment in the area for the development of new and improved products. The Asia-Pacific region is predicted to have the highest growth rate due to the area's growing customer base and the presence of numerous industry competitors.

“The residential sector will have the biggest revenue share in the online laundry service industry during the forecast period. Due to increased health concerns about personal hygiene and cleanliness, online laundry services for daily wear clothes, online washing services have been made feasible by a shift in customer preference toward professional cleaning. Furthermore, firms are establishing themselves in the industry to explore the unorganised sector,” says an analyst at FMI

Market Competition

Key players in the online laundry services market are DhobiLite, CLEANLY, Inc., FlyCleaners, Laundrapp Ltd, Zipjet Ltd, Rinse, Inc., Mulberrys Garment Care, Laundryheap Ltd., WASHMEN and IHATEIRONING.

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Cat Food Toppers Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2032

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Cat Food Toppers Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2032

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As per Future Market Insights (FMI), the sales in cat food toppers market is expected to surge with growing awareness of the ingredients used in pet food items. Cat owners are becoming increasingly aware of the health advantages of natural and organic cat food products, therefore, generating high demand for organic and natural cat food products. Cat owners also prefer food that is devoid of artificial colors and preservatives while also being nutritious for their cats.

Observing the rising trends for organic cat food products, the manufacturers are expanding their product portfolio to offer organic cat food products and to cater to the needs & requirements of cat owners. The manufacturers are heavily investing in research to develop superior quality and high nutritional organic cat toppers.

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For instance, in 2021, The Honest Kitchen, a manufacturer of natural pet meals, toppers, treats, and vitamins, launched a 100% human-grade cat food portfolio. The new product line includes dehydrated, dry, and wet feeds that are comprehensive and balanced. Along with this, they also introduced toppers, snacks, and a hydration booster. The company made the limited number of items currently available at independent supply stores, websites, and approved e-commerce distributors.

Further, the global cat food toppers market is estimated to expand at a CAGR of over ~8.7% during the forecast period of 2022-2032, and it is estimated to be valued at US$ ~6,700.2 Mn by the end of 2032.

“Cat food topper manufacturers are formulating strategies and sales channels for the expansion of their product line to cater to all types of cat breed requirements. Key players are focusing on innovation in product portfolio to improve the shelf life and for the customisation of the product.” Says an FMI analyst.

Who is winning?

Leading manufacturers of cat food toppers are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of cat food toppers market globally.

Major players present in the cat food toppers market Stella & Chewy's, The Honest Kitchen, Blue Buffalo Co., Ltd., Nature’s Variety, Merrick Pet Care, Inc., Castor & Pollux Natural Petworks, Mars Incorporated, Only Natural Pet, Petco Animal Supplies, Inc. (WholeHearted), Applaws Natural Cat and Dog and Cat Food, and Tiki Pets among others.

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Pet Hotels Market Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2032

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Pet Hotels Market Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2032

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The global pet hotel market is predicted to reach a value of US$ 9679.1 Mn by 2032, with sales growing at a robust CAGR of 8.4% from 2022 to 2032. Predicted to reach an estimated US$ 4320.6 Mn in 2022, the target market is fueled by shifting and prevailing trends for premium pet services. The growing awareness of veterinary health further aids the growth of the pet hotel market during the forecast period.

The increasing popularity of pet daycare services, rising pet humanization, along with a fast-paced lifestyle and unavoidable work commitments of pet owners is expected to act as a major growth driver for the pet hotel market. In addition, more and more pet owners are inclined to spend more on the welfare of pets which ultimately increases the overall expenditure for animal care, including services like pet sitting. This will likely further propel the growth of the target market.

The emergence of evolved, cost-effective, and personalized services, that includes a wide range of services such as grooming, pet entertainment and others, has resulted in the rise, the establishment and adoption of pet hotels. Similarly, the chance for pet parents to be able to customize the experience of their pets in these hotels is a highly appealing factor which invites a larger consumer base.

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Again, increasing impact of social media and e-commerce platforms as well as the rise in pet ownership, particularly amongst millennials and Generation Zs, is predicted to supplement the pet hotels market growth. All of these considerations, in addition to others, will augment the global sales of the pet hotels market during the forecast period.

“Rising pet ownerships coupled with increasing pet humanization efforts are expected to supplement the global growth of the pet hotels market over the forecast period,” says an FMI analyst.

Competitive Landscape

D Pet Hotels, Critterati, Camp Bow Wow, Posh Pet Hotel, The Barkley, Best Friend Pet Care, Old Towne Pet Resort, The Ings Luxury Cat Hotels, Wag Hotels, and Pacific Pet Resort, among others are some of the major players in the pet hotels market profiled in the full version of the report.

Leading market players are focusing on adopting new and developed technologies to enhance their facilities and provide better service. Offering a wide range of services, upgrading their product offerings, and expanding their operations are some strategies used by these market participants. These firms also employ tactics like mergers, acquisitions, and partnerships to gain a competitive edge.

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District Heating Market Analysis By Future Demand, Top Players, Size, Share, Opportunities, Revenue and Growth Rate Through 2032

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District Heating Market Analysis By Future Demand, Top Players, Size, Share, Opportunities, Revenue and Growth Rate Through 2032

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The district heating market was valued at USD 170 Bn in 2021 and is expected to grow at a CAGR of 4% to approximately USD 260 Bn by 2032. District energy is a rapidly growing industry around the world, fueled by the aggressive climate goals set by the world’s economies.

Based on preliminary evaluations, some district heating and cooling companies like Vattenfall and Goteborg are identified as operations with extraordinary growth and value potential with a different holding structure. Higher renewable energy levels can be used for thermal purposes by incorporating electrically powered heat pumps into the district heating supply, resulting in integration and balance between energy systems.

With a growing global wind turbine capacity, large heat pumps will play an important role in sustaining global green energy development and the quest to phase out fossil fuels by 2050.

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District heating is a method of delivering thermal energy to buildings (both residential and commercial) in hot water via a network of highly insulated pipelines. The potential for increased use of industrial district heating, on the other hand, is limited. Moreover, converting industrial processes to district heating involves varying heat loads across industries and processes.

The conversion to district heating results in an 11 percent reduction in electricity use, a 40% reduction in the use of fossil fuels, and a total energy end-use savings of 6% among industries.

It is possible to reduce global carbon dioxide emissions by 112,000 tonnes per year by converting industrial processes. However, the residential and commercial markets are expected to account for a sizable portion of the district heating market.

Competitive Landscape

Major companies operating in the district heating market include Fortum, Vattenfall, Goteborg Energi, Statkraft, STEAG, RWE, Shinryo Corporation, Ørsted, NRG Energy, Ramboll Group A/S, Korea District Heating Corporation, Keppel DHCS Pte Ltd., LOGSTOR A/S, Kelag Warme GmbH, and Hafslund.

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Waste to energy (WTE) Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2032

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Waste to energy (WTE) Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2032

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The global waste to energy market is projected to reach a valuation of US$ 82.49 Bn in 2032, with sales growing at a healthy CAGR of 7.3% during the forecast period of 2022 to 2032. Valued at US$ 38 Bn in the year 2021, the waste to energy market will reach an estimated US$ 40.77 Bn in 2022. Escalating waste production is an immense concern. In addition to this, there is heightened demand for clean energy. Thus, the waste to energy technology is gaining mass recognition as it addresses two issues at the same time.

Rapid urbanization and industrialization have led to greater power requirements. With High power needs and emphasis on cultivating energy from renewable sources, the waste to energy market looks at bright market prospects. More and more countries are investing in renewable energy and reducing their dependency on fossil fuels which creates lucrative opportunities for the waste-to-energy sector. Elevated greenhouse gas emissions have resulted in the implementation of strict government regulations.

This in turn induces manufacturers of green technology to continue to produce novel and innovative technologies that will aid in the production of cleaner energy. This fosters an environment of growth for the waste to energy market. Many governments across the globe increasing their investment in renewable energy sources to decrease their dependency on fossil fuels. This, too, contributes to the market expansion of waste to energy market.

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Heightened demand for thermochemical waste to energy technology also fosters market growth for the waste to energy technology over the forecast period. Due to constant developments in waste treatment technology, thermal technologies are expected to dominate the waste to energy market. Waste is transformed into usable heat during thermal treatment and this heat or steam is then used to turn a turbine and produce power. This technology is being adopted by many companies around the world and is likely to drive the waste to energy market.

“Government initiatives and policies coupled with developing waste treatment technologies will likely drive the growth of the waste to energy market over the forecast period,” says an FMI analyst.

Competitive Landscape

Veolia, Velocys, Biffa, Sims Limited, Stericycle, Keppel Seghers, Recology, Waste Connections, Xcel Energy, Hitachi Zosen Inova AG, China Everbright Environment Group Limited, JANSEN Combustion and Boiler Technologies, Wheelabrator Technologies, SUEZ, OMNI Conversion Technologies, WM Intellectual Property Holdings, and Covanta Holding Corporation and others are some of the major players in the waste to energy market that are profiled in the full version of the report.

Leading market players are concentrating on increasing their investments in R&D activities to develop new technologies with advanced and variety of features. These businesses are also keen on mergers and acquisitions to expand their revenue stream.

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Fuel Cell Market Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2032

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Fuel Cell Market Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2032

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The global fuel cell market is garnering strength and is predicted to move at an impressive CAGR of 25.2% during 2022-2032.

Fuel cells convert electrical energy sourced from chemical energy, through an electromechanical reaction with oxygen or other oxidizing agents. Primarily, a fuel cell functions as a battery, but is different in the way that in a fuel cell, fuel is supplied from an external source and fuel is converted to electricity without any involvement of a burning process. The demand for alternative energy sources is growing at a global level, which in turn propels the development of associated products. The first commercial application of fuel cells happened with NASA’s space programs.

Fuel cells were used for application in probes, satellites and space capsules. Generally, fuel cells utilize oxygen and hydrogen during the electrochemical reaction process and generate electricity, heat and water. These cells are used where continuous flow of electricity is required. The cells provide continuous flow of electricity as long as source fuel is supplied. As fuel cells are carbon-free due to their non-burning nature, environmental norms support the development of this market.

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At a global level, various fuel cell design modifications are available. This includes solid oxide fuel cell (SOFC), proton exchange membrane (PEM), molten carbonate fuel cell (MCFC) and a few others. Furthermore, the fuel cell market can be categorized on the basis of source type as hydrogen powered, methanol powered, biogas powered, natural gas powered and hydrocarbons powered. Fuel cell technology finds application in stationary power, portable power and transportation power, and specialty vehicles, fuel cell electric vehicles, auxiliary power units and material handling equipments. Fuel cell technology has become one of the dominant technologies in the power generation industry owing to its carbon-free, non-burning nature and safe energy source.

Rising environmental concerns along with stringent regulations, especially in North America and Europe to reduce carbon emission, is likely to fuel the demand for fuel cell systems over the forecast period. Furthermore, various other factors such as consistently declining fuel cell cost due to technological advancement and uncertainty of the source of fuel cell are likely to spur growth of the fuel cell market. Such factors limit the application of fuel cells to a narrower spectrum. Depletion of global oil and gas reserves coupled with the demand for clean energy are fuelling the global fuel cell market. Moreover, companies and governments worldwide promote the shift in focus towards renewable energy generation options.

Fuel cell manufacturers are also involved in the operational expansion through the setting up of new plants. Recently, Daimler AG and The Linde Group entered into strategic alliance to build hydrogen fuelling stations in Germany. Such initiatives are helpful to commercialize fuel cell application in the transportation sector. Furthermore, fuel cell-powered vehicles require hydrogen filling stations, and with such initiatives, it is possible to commercialize fuel cell-powered automobiles.

Dominant market participants in the fuel cell market are Toshiba Corporation, Panasonic Corporation, Hydrogenics Corporation, Kyocera, AFC Energy, Ballard Power Systems, Inc., Ceres Power Holdings PLC, Aisin Seiki Co. Ltd., Ceramic Fuel Cells Limited and Doosan Corporation.

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Portable & inflatable Swimming Pool Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2032

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Portable & inflatable Swimming Pool Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2032

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The global portable & inflatable swimming pool market is expected to secure US$ 6,300.2 Million in 2032 while expanding at a CAGR of 11%. The market is likely to hold a value of US$ 2,350.7 Million in 2022.

Additionally, the huge amount of expense required to build and maintain a personal swimming pool creates an opportunity for alternative options, and thus, the growth rate of the inflatable swimming pool in terms of sales is high.

Inflatable Swimming Pool Market Forecast and CAGR

The inflatable swimming pool market is set to witness steady growth during 2021-2031, with a CAGR of around 10.8%. Demand for the inflatable swimming pool will witness steady growth due to the rise in demand for personal recreational equipment.

Additionally, the huge amount of expense required to build and maintain a personal swimming pool creates an opportunity for alternative options, and thus, the growth rate of the inflatable swimming pool in terms of sales is high.

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What is Driving Demand for Inflatable Swimming Pool Market?

The demand for inflatable swimming pools is projected to grow during the forecast period 2021-2031, mainly due to the inclining of customers towards portable, compact and convenient options for sporting activities.

The increasing rates in the construction industry and rising population leading to a decrease in residential areas, especially in the developing regions are promoting the development of inflatable swimming pools.

The availability of such novel solutions in the market tends to boost the demand and sales of any product from the respective industry and inflatable swimming pools have proven to be a live example. The use of PVC allows the pool to resist certain stress, keeps it leak-proof. However, it has a high chance of being punctured, which renders the growth.

What Factors are Likely to Augment Inflatable Swimming Pool Sales?

Inflatable swimming pools have a huge demand among kids due to the various recreational activities and physical games involved in swimming.

Many physicians also, recommend swimming to be necessary involved activity in an individual’s life, as it allows them to build muscle strength, burn calories, improves flexibility, enhance metabolism, and overall fitness.

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Dog Collars, Leashes & Harnesses Market Business Opportunities, Top Manufacture, Growth, Share Report, Size, Regional Analysis and Global Forecast to 2032

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Dog Collars, Leashes & Harnesses Market Business Opportunities, Top Manufacture, Growth, Share Report, Size, Regional Analysis and Global Forecast to 2032

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The dog collars, leashes & harnesses is expected to reach a valuation of US$ 5.432 Bn in 2022. Projected to grow at a robust CAGR of 7.6% between 2022 and 2032, totaling around US$ 11.301 Bn by the end of 2032 .Rising dog ownership is expected to provide a major fillip to adoption of various accessories, including collars, leashes and harnesses.

This has led to a vibrant global dog collars, leashes & harnesses market that has seen considerable growth in the past decade; however, the Covid-19 crisis is likely to have a major impact on the market in the near future.

Dog collars, leashes & harnesses may be made up of a variety of materials including nylon, chain, leather, neoprene, faux leather, cotton, biothane, hemp or rubber. Their aim is to help in identification, walking and training of dogs by ensuring comfort for dogs and their owners without compromising on an owner’s ability to control them.

Dog collars, leashes & harnesses may be segmented as per individual types of collars such as choke chains, pinch collars, flat and rolled collars, martingale collars and electronic collars; harnesses such as body harnesses and head halters; and leashes such as standard leashes, chain leashes, retractable leashes, hand-free leashes, split leashes, adjustable leashes and martingale leashes.

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Dog Collars, Leashes & Harnesses Market

A rapid growth in numbers of dogs being adopted in the last decade has been a leading driver of the dog collars, leashes & harnesses market. Increase in disposable incomes of dog owners has also proved favourable to the market. Furthermore, increasing consumer awareness about types and utilities of collars, harnesses and leashes is also driving the market.

These products find utility in terms of enhancing safety of dogs in public places and while imparting basic training to young dogs. The dog collars, leashes & harnesses market is also witnessing a positive impact due to increasing governmental legislations across the globe regarding conduct of dogs in public places. Such legislations are aimed at ensuring public safety and welfare of pet animals.

Trends in the Dog Collars, Leashes & Harnesses Market

Dog owners are increasingly looking for collars and harnesses that are trendy and stylish; the aspects such as designs, colours, materials and patterns of collars and harnesses have thus found increasing traction among manufacturers. Simultaneously, incorporation of technology has also been increasing the utility of collars and harnesses.

Notable recent technological innovations in collars include light-reflecting collars, light-up collars, GPS tracking enabled collars and audio system enabled collars. Such innovations are observed in dog harnesses as well though the primary focus of harnesses is centred around safety, comfort and functionality by reducing stress on a dog’s anterior muscles while walking, running or exercising.

The trend of increasing product utility is observed in leashes as well and multi-purpose, retractable leashes have seen a growth in sales.

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Over-night Hair Treatment Products Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2032

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Over-night Hair Treatment Products Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2032

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The market for over-night hair treatment products will grow at a consistent rate of 5.3% CAGR during the years 2022-2032.

The demand for over-night hair treatment products is increasing at an unprecedented rate due to the availability of numerous hair care products, including sleep masks, serum, oil, and more.

Consumers today are increasingly concerned with their image, which includes using hair care products. The growing popularity of hairstyles and the desire for healthy, attractive hair have increased demand for hair care products, which has drawn customers’ attention to goods for overnight hair treatments including hair masks and water-based hair care gel.

Over-night Hair Treatment Products Market: Overview

Over-night hair treatment products are the hair repair products which often known as hair masks, water based gel that have properties to make hair soften, soothe and condition. The primary purpose of using over-night hair treatment products are infusing hair shaft with moisture and glossy shine to hair. It also reduces hair breakage.

These properties have of over-night hair treatment products make it popular and demanding among consumers. Now a day, consumers around the world are more conscious about their appearance which includes haircare products.

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The growing trend of hair style and desire of beautiful hair have stimulated demand for hair care products, which in result, catching the eyes of consumers for over-night hair treatment products such as hair masks, water based hair care gel etc. Being attractive is the trend that everyone follows, especially women. The growing beauty conscious consumers thus prefer to use over-night hair treatment products to repair their hair condition. However, growing counterfeit products hamper the growth of the over-night hair treatment products market.

Changing lifestyle and beauty consciousness are the factors that push the market for more innovative products such as protective hair serum, anti-aging overnight hair rescue hair treatment from various manufacturers. Manufacturer in this segment face a tough competition due to high concentration of players in the market. Thus, manufacturers are focusing on new innovations and new product launches to attract new and retain their old customers. Currently, manufacturer are coming with products which are free of paraben, gluten, mineral oil etc.

Over-night Hair Treatment Products Market: Market Dynamics

The use of over-night hair treatment products are not new in the market. Growing consumer interest and demand from market has pushed the manufacturers for new innovative products. Using natural products are currently trending in the global market, hence manufacturers are focusing on natural over-night hair treatment products which provides hair repair along with hair shine. The rapid change in lifestyle and increasing popularity of hair care products drive the demand for over-night hair treatment products, primarily the hair mask.

The growing home beauty culture has put the over-night hair treatment products market into a bigger risk. Consumer’s nature of trying new home beauty tips and products have pushed the manufacturers to come up with innovative & attractive products, not only by product quality and properties, but also the price point. High manufacturing concentration has been observed in North America and other developed region such as Europe.

The growing trend of attractiveness and usage of over-night hair treatment products is more in the USA compared to other countries. The Asia Pacific is holding a significant portion of the over-night hair treatment products market due to growing manufacturing in Asia Pacific region such as Chinese, Japanese and Korean Companies. Moreover, demand for paraben free and natural products are trending across the geographies and expected to see a robust growth in future market.

Over-night Hair Treatment Products Market: Key Players

Some of the over-night hair treatment products key players operating in the global over-night hair treatment products market are L’Oréal Paris, Johnson & Johnson Consumer Inc. (Neutrogea), IGK Hair, Arvazallia, Briogeo, Sachajuan, Anthem USA, and others.

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Hunting Boots Market Size, Growth Factors, Top Leaders, Trends, Analysis, ComHunting Bootsitive Landscape and Regional Forecast 2032

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Hunting Boots Market Size, Growth Factors, Top Leaders, Trends, Analysis, ComHunting Bootsitive Landscape and Regional Forecast 2032

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The hunting boots market is anticipated to reach a valuation of US$ 6970 million in 2032. The market is expected to grow at a CAGR of 5.2% during the forecast period, and the market estimation as on 2022 is US$ 4200 million.

Typically, while getting involved in hunting or related activities, it is a known fact that we have to run or at times even sprint. For the running to take place effortlessly, we need to ensure that we select those hunting boots which are proportionate to our body weight.

On selecting the appropriate weight, we will be able to walk/run effortlessly. This is anticipated to increase the sales of hunting boots.

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Along with handling our body weight effortlessly, these are designed for extreme and long-standing usage. This allows the users to manage the hunting boots as per their wish.

One of the most important factors why hunters select the hunting footwears are because these are water resistant. The jungles are meant for their unpredictable pathways, wherein a person may have to go through a wet and sloppy landscape, and that too all of a sudden. This might increase the sales of hunting boots, as such feature, apart from the ones mentioned above are not offered by other kinds of shoes.

Thus, based on the analysis of FMI The increasing requirement by hunters to be on comfort while covering a lot of ground while hunting, along with the sturdiness offered by the hunting boots and many other factors are expected to increase the demand for hunting boots.

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Aquarium & Fish Bowls Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2032

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Aquarium & Fish Bowls Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2032

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The Aquarium and fish bowl market size is composed to reach a valuation of US 1.5 Billion in 2022. Sales of aquarium & fish bowl are projected to increase at a 5.0% CAGR, with the aquarium & fish bowl market size reaching US$ 3.0 Billion by 2032.

Aquarium fish keeping is a centuries-old popular hobby that has seen consistent aquarium & fish bowl market growth in its trade-in over 125 countries due to rising interest. With the growing popularity of home aquariums, the public aquaria sector now accounts for about half of the aquarium & fish bowl market, with the rest remaining confined to hobbyists impacting the aquarium & fish bowl market key trends and opportunities.

The majority of ornamental fish is sourced from tropical and subtropical developing countries. Thousands of rural people in underdeveloped nations are employed as a result of the international trade in ornamental fish influencing the aquarium & fish bowl market trends.

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Every year, more species are added as a consequence of developments in breeding, transportation, and aquarium technology. As a result, everything points to the aquarium and fish bowl market future trends along with aquarium & fish bowl market opportunities.

About more than 30 freshwater fish species, including livebearers, neon tetra, angel fish, goldfish, zebra danio, and discus, are thought to dominate the aquarium & fish bowl market. The manufacture of a large variety of fish breeds with colourful, appealing varieties enticed consumers to spend more money on fish as pets, resulting in a significant surge in aquarium and fish bowl production boosting the aquarium & fish bowl adoption trends.

“The Aquarium and fish bowl market is rising due to the rising the fish industry due to a variety of colourful ornamental fish’s breeds “. Says –FMI Analyst

Impact of COVID-19 on the Market

The coronavirus (COVID-19) pandemic has induced a significant drop in the demand for aquarium & fish bowl. Due to government-imposed lockdowns in highly affected areas, the logistical arrangements for transporting aquarium & fish bowl products have been severely hampered.

Thus, end-users are resorting to the homemade tank to ensure the safety of the fish. On the other hand, online sales of aquarium & fish bowl have as significantly increased. Non-contact delivery with easy online e payment easy returns leads to online aquarium & fish bowl market.

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Pet Market Movements by Trend Analysis, Growth Status, Revenue Expectation to 2032

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Pet Market Movements by Trend Analysis, Growth Status, Revenue Expectation to 2032

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The pet market size (purchasing of pets) is projected to be worth US$ 16,607.2 Mn in 2022. Sales are anticipated to grow at a 7.5% CAGR from 2022 to 2032, valuing the entire market at US$ 34,140.7 Mn by that year.

Rapid urbanisation, rising disposable income, and health concerns are driving an increase in pet adoption and ownership, which is driving pet sales globally. Currently, houses with pets account for 70% to 8% of all households.

Similar to this, the expansion of the pet grooming and pet care industries, together with the rising trend of humanization, would likely fuel market growth throughout the projection period.

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A rising number of individuals regard their dogs like part of their families, providing them with food and treats based on the nutritional requirements of their pets or their own beliefs and eating habits, such as veganism.

“Rapid urbanization and rise of pet humanization have boosted triggered pet adoption and ownership, thereby creating chances to improve profitability in the market”– says the FMI Analyst

Who is Winning?

Leading suppliers in pet market size (purchasing of pets) are focused on promotional policies, online services, advertisements, and new launches and offers that have driven sales growth of the pet market (purchasing of pets).

Major players present in the pet market (Purchasing of Pets) are Petco, Pet finder, PetSmart, Pet mate, Petco Foundation, Adoptapet, Best Friends Animal Society, The Shelter Pet Project, Petango, Petland, and others.

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Mobile Phone Accessories Market Analysis, Development, Revenue, Future Growth and Forecast to 2032

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Mobile Phone Accessories Market Analysis, Development, Revenue, Future Growth and Forecast to 2032

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The mobile phone accessories market is anticipated to be worth $86.6 billion in 2021. The market is anticipated to grow at a CAGR of 6.7 percent through 2031 and reach US$ 166 billion.

The United States continues to account for 78 percent of total sales in North America. While China will continue to be the region’s largest market, South Korea and Japan’s demand are anticipated to grow quickly.

According to the report, the key accessories available in the mobile phone accessories market consist of a case for protection, headphones or earphones, a charger, a battery, a memory card, a power bank, a portable speaker, and “others”.

Among these products, demand for protective cases is most robust currently, with this segment accounting for one-fifth of the overall market in 2021. FMI expects demand for protective cases to remain strong during the forecast period 2021-2025.

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Inability of modern-day smartphone batteries to withstand heavy usage has led to robust demand for power banks. Owing to stellar demand, power bank segment is expected to gain 230 BPS during the forecast period, and increase its market share from 10% in 2014 to 12.3% in 2025. Power bank segment is also expected to witness the highest CAGR, growing at 9% between 2015-2025.

The key factors that are driving the global mobile phone accessories market include rising smartphone ownership and mushrooming of multi-brand distributors and retailers.

Smartphone sales are buoyant in emerging economies, such as China, India, Brazil, and Indonesia. Smartphone shipments increased from 1.1 Bn units in 2013 to 1.2 Bn units in 2014. Around 45% of these 1.2 Bn units were shipped to China. FMI expects the rising smartphone ownership to create secondary demand for products that are not usually included in the box, such as power banks and protective cases.

In addition to multination brands, the smartphone segment in emerging nations also includes regional players, such as Xiaomi and Micromax. FMI’s analysis revealed that compared to multinational brands, these local players offer fewer mobile accessories in their offerings in a bid to keep the prices competitive. Owing to this, a majority of consumers buy mobile accessories from the local market or from e-commerce sites. Increase in the sales of smartphones made by local manufacturers is expected to provide an impetus to the mobile phone accessories market during the forecast period.

Mushrooming of multi-brand distributors and retailers has given mobile phone accessory manufacturers the opportunity to target a larger customer base. Furthermore, sales of mobile phone accessories through e-tailers is also contributing to the growth of the market globally. FMI expects both multi-brand stores and e-commerce stores to expand during the forecast period, which in turn, is anticipated to provide an impetus to the global mobile phone accessories market.

Although FMI maintains a positive outlook on the global mobile phone accessories market, few factors can restrain the growth during the forecast period.

Lack of stringent checks on pirated accessories is eating into the revenue share of key stakeholders in the market. Pirated mobile accessories are offered at a fraction of the price of original products, making it difficult for manufacturers to compete with them.

Currently, there exists a lack of standardization in technology and components used for manufacturing mobile accessories. Undefined standards in the market lead to high product and price differentiation, this may hinder growth of the mobile accessories market to some extent.

The key trends analysed by FMI in the global mobile phone accessories market include growing demand in Asia and spate of mergers and acquisitions. Diversification of product portfolio and product advancement are the other major trends in the global mobile phone accessories market.

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Luxury Hotel Market Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2032

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Luxury Hotel Market Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2032

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The luxury hotel market is poised to reach a valuation of US$ 95,113 million in 2022 and US$ 160,481.2 million in 2032. Demand is projected to increase at a 5.0 % CAGR during the forecast period.

The growth of the travel and tourist industry, a rise in consumer demand for leisure travel, and changes in standard of living all contribute to the expansion of the world’s luxury hotel market.

Additionally, in order to draw visitors, luxury hotels are always raising the standard of their services, from the design of their rooms and menus to the addition of spas, fitness centers, swimming pools, and laundry services.

In order to diversify their offers and open additional franchise locations around the world, luxury hotel operators invest heavily and do considerable research. The tourism business has also had a big impact on the rise of luxury hotels, which opens up new potential for the hospitality sector.

The luxury hotels are only available in large cities, though. This is due to the products and services required to manage these hotels are only available in certain places. As a result, there aren’t many of these luxury hotels in a nation, which leads to a shortage.

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Rapid urbanization, sudden surge in infrastructure development, and swift technological advances are expected to drive the market in Asia Pacific.

The luxury hotel market is expected to rise in the forecast periods with a CAGR of 5.0% due to the increasing per capita income and improved standard of living.

Competitive Landscape:

As a current trend in the luxury hotels, sustainability is once again at the forefront of the hospitality sector. In order to keep clients hooked on their services, luxury hotel owners are also concentrating on membership cards.

Major players present in the luxury hotel market are Four Seasons Holdings Inc., Intercontinental Hotels Group, Marriott International Inc., Hyatt Corporation, ITC Hotels Limited, Shangri-La International Hotel Management Ltd., Jumeirah International LLC, and The Indian Hotel Companies Limited.

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Contact Lenses Market Movements by Trend Analysis, Growth Status, Revenue Expectation to 2029

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Contact Lenses Market Movements by Trend Analysis, Growth Status, Revenue Expectation to 2029

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The global contact lenses market size  is set to reach US$ 12.5 Bn in terms of revenues by the end of 2029. A new Future Market Insights (FMI) study reveals that the contact lenses market will see a moderate CAGR over 2029. Soft contact lenses are the most prescribed contact lenses, while toric lens designs are significantly gaining popularity over the recent past. The latter are gaining traction attributing to their properties to correct mixed astigmatism.

Moreover, these lenses are fashionable, serve various purposes owing to their anti-radiation (block UV rays) properties, and abilities to filter dim lights and work on miniature components. Demand for silicone hydrogel contact lenses is also on a constant rise, as they reduce the risk of hypoxia related eye problems.

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Growing prevalence of myopia among young children and elderly demographic will continue to create significant opportunities for prominent players in the contact lenses market. Daily wear soft contact lenses made of flexible plastic that enables oxygen to pass through the eyes are gathering traction in market. Besides such innovations, online sales will help manufacturers reap sizeable profits in the global market.

Smart Contact Lenses Gaining Traction

Contact lens companies have been introducing novel products in the market, attributable to R&D advancements. Smart contact lenses represent one such innovation that continues to gain popularity worldwide. These lenses do not require surgery and can be inserted or removed by users. Researchers from the Harbin Institute of Technology in China and the University of California San Diego are developing innovative biomimetic smart soft contact lenses that users can zoom in and out by simply blinking.

Know More About Contact Lenses Market Report

Future Market Insights, in its new offering, provides an analysis of the global contact lenses market, presenting historical demand data (2014-2021) and forecast statistics for the period of 2022-2029. The report on the global contact lenses market reveals compelling insights on the basis of product type (soft lenses [daily wear and extended wear] and gas permeable), design type (spherical, toric, multifocal, and others), wear type (disposable and reusable), and sales channel (online [e-Commerce portal and company owned portal] and offline [exclusive stores and multiband stores]), across seven major regions.

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Perfume Market Trends, Size, Growth Insight, Share, Competitive Analysis, Regional and global Industry Forecast To 2031

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Perfume Market Trends, Size, Growth Insight, Share, Competitive Analysis, Regional and global Industry Forecast To 2031

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According to a recent report by Future Market Insights (FMI), the perfume market is expected to reach a valuation of US$ 35 Bn in 2021, expanding at a steady 4% CAGR through 2031.

Shifting consumer preference towards natural ingredients in perfumes that offers a unique and soothing aroma is encouraging product developments by manufacturers, thereby augmenting growth of the market.

Rapid urbanization, along with increasing adoption of smartphones has led to more awareness regarding various side effects caused by the undisclosed chemical used in perfumes. In addition to this, rising adoption of perfumes among old-age customers is encouraging manufacturers to use natural ingredients with a pleasant aroma.

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The aforementioned factors are spurring demand for renewable ingredients in perfume manufacturing. Moreover, players are initiating the use of microbial-based natural ingredients in perfumes to increase the spray quality and cater to the demand from environment and health-conscious consumers.

Who is winning?

Leading players operating in the perfume market are Estee Lauder Companies Inc., LVMH Moet Hennessey Louis Vuitton, Coty Inc., L’Oréal S.A., Eliabeth Arden Inc., Shiseido Co Ltd., Puig SL., Perfumania Holdings Inc., Avon Products Inc., Hermes International S.A., Natura Cosmetics S.A., Channel S.A., Clarins, Revlon Inc., and Givaudan among others.

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