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Frozen Vegetable Price in U.S. Averages $1,289 per Ton

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Frozen Vegetable Price in U.S. Averages $1,289 per Ton

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U.S. Frozen Vegetable Import Price per Ton August 2022

In August 2022, the frozen vegetable price per ton amounted to $1,289, rising by 3.7% against the previous month. Over the last seven months, it increased at an average monthly rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In August 2022, the country with the highest price was Mexico ($1,625 per ton), while the price for China ($931 per ton) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

U.S. Frozen Vegetable Import Prices by Type

Average prices varied noticeably amongst the major supplied products. In August 2022, the product with the highest price was frozen vegetables other than potato and corn ($1,411 per ton), while the price for frozen sweet corn ($1,212 per ton) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by frozen sweet corn (+2.1%), while the prices for the other products experienced more modest paces of growth.

U.S. Frozen Vegetable Imports

Frozen vegetable imports into the United States contracted modestly to 164K tons in August 2022, with a decrease of -4% against the previous month. Overall, imports showed a perceptible decline. The most prominent rate of growth was recorded in March 2022 with an increase of 26% m-o-m. As a result, imports reached the peak of 245K tons. From April 2022 to August 2022, the growth of imports remained at a somewhat lower figure.

In value terms, frozen vegetable imports dropped to $211M (IndexBox estimates) in August 2022. In general, imports showed a pronounced contraction. The growth pace was the most rapid in March 2022 when imports increased by 25% against the previous month. As a result, imports attained the peak of $297M. From April 2022 to August 2022, the growth of imports remained at a lower figure.

U.S. Frozen Vegetable Imports by Type

Frozen potatoes (102K tons), frozen vegetables other than potato and corn (60K tons) and frozen sweet corn (2.1K tons) were the main products of frozen vegetable imports to the United States.

From January 2022 to August 2022, the biggest increases were in frozen potato (with a CAGR of -1.5%), while purchases for the other products experienced a decline.

In value terms, the most traded types of frozen vegetables in the United States were frozen potatoes ($124M), frozen vegetables other than potato and corn ($84M) and frozen sweet corn ($2.5M).

U.S. Frozen Vegetable Imports by Country

In August 2022, Canada (93K tons) constituted the largest frozen vegetable supplier to the United States, accounting for a 57% share of total imports. Moreover, frozen vegetable imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (24K tons), fourfold. The third position in this ranking was taken by Belgium (13K tons), with an 8.2% share.

From January 2022 to August 2022, the average monthly growth rate of volume from Canada totaled -2.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (-6.5% per month) and Belgium (-3.0% per month).

In value terms, Canada ($114M) constituted the largest supplier of frozen vegetable to the United States, comprising 54% of total imports. The second position in the ranking was taken by Mexico ($39M), with a 19% share of total imports. It was followed by Belgium, with a 7% share.

From January 2022 to August 2022, the average monthly rate of growth in terms of value from Canada was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (-5.3% per month) and Belgium (-0.7% per month).

Source: https://www.indexbox.io/blog/frozen-vegetable-price-per-ton-august-2022/

Global Thermal Paper Developer Market to Generate Revenue of $34.03 Million by 2030
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Global Thermal Paper Developer Market to Generate Revenue of $34.03 Million by 2030

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Global thermal paper developer market was valued at US$ 20.15 million in 2021 and is projected to reach valuation of US$ 34.03 million by 2030 at a CAGR of 6.4% during forecast period 2022-2030.

Thermal paper is currently the most popular kind of paper for printing because it is cheap to produce and can withstand high temperatures. In 2021, thermal paper sales were valued at $3.8 billion, and are expected to grow by 5% each year until 2030. The reason for this growth is simple: thermal paper is most suitable for printing advertising panels, barcodes, labels, bills, ATM receipts, and other products in the global thermal paper developer market that need to be displayed in an environment with high temperatures.

Thermal paper developers are used in the production of thermal printer medium such as receipts, invoices, and statements. The increasing demand for thermal paper is mainly attributed to the growth of digital transactions and the increasing population of consumers using smartphones and other electronic devices.

Another key factor driving the growth of the thermal paper developer market is the increasing adoption of quick printing solutions by various businesses such as restaurants, cafeterias, healthcare institutions, and retail establishments. In addition, recent regulatory changes in major countries such as the US and UK have paved way for widespread use of thermal paper in retail applications.

However, The paper’s popularity comes with a downside: it’s not very environmentally friendly. Thermal paper requires a lot of energy and harmful chemical to produce, which means it has a negative impact on the environment. Additionally, thermal paper releases volatile organic compounds (VOCs), which can have harmful effects on the environment. To mitigate these issues, some companies in the global thermal paper developer market are looking into alternatives to thermal paper, such as electronic print media.

Bisphenol A Generates Over 35% Revenue Global Thermal Paper Developer Market Despite Being Declared as Harmful

Bisphenol A also known as BPA is the most used developer in the production of thermal paper. It is one of the popular plasticizers and is often found in products such as food containers, water bottles, and laptop cases. It can also be found in thermal paper, which is a type of paper that is used to print documents and receipts.

Thermal paper typically contains bisphenol A in levels that are hundreds of times greater than what is found in typical paper. BPA has been shown to have harmful effects on humans and animals. It has been linked to cancer and other health problems, and the EPA has declared it a toxic chemical.

Despite these dangers, bisphenol A continues to be heavily used in the production of thermal paper in the global thermal paper developer market. There are some alternatives to using bisphenol A in thermal papers, but they often cost more or require different manufacturing processes. Until alternatives are available, consumers should choose environmentally friendly options when purchasing thermal papers and products that contain bisphenol A.

Manufacturers use BPA because it helps make thermal paper more durable and smoother. It also helps create the “feel” of plastics. Some manufacturers have stopped using BPA in their products, but it’s still in large quantities. Some countries have banned it altogether, while other countries have only imposed restrictions on its use.

Top Trends in Thermal Paper Developer Market

  • Increase in Usage of Thermal Paper Developer for Labels and Tags

As the portable printing technology advances, there has been an increase in the usage of thermal paper developer for labels and tags. The reason for this is that thermal paper developers offer high-quality prints at low costs. In addition, they are perfect for applications such as labelling and tagging where a quick turnaround is needed.

  • Development of New Thermal Paper Developer Technologies

In order to continue offering high-quality prints at low costs, thermal paper vendors in the global thermal paper developer market have developed new technologies such as direct writing thermal paper developer and sublimation printing thermal paper developer. These technologies help save on ink and print costs while still providing quality prints.

  • Expansion Into Emerging Markets

With the rise in e-commerce, there has been a corresponding increase in the use of thermal paper developer in emerging markets such as Asia Pacific and Africa. This is because these regions are rapidly growing markets with large populations that are seeking improved access to information and goods.

Competition is Fierce in Thermal Paper Developer Market

Global thermal paper market is highly fragmented owing to different application segments across regions. Asia Pacific dominates the market due to high demand for large format thermal papers in commercial and retail printing applications. Europe is estimated to account for third largest share of the global market by 2028., while Asia Pacific will grow at a faster rate due to increasing demand from electronic imaging and print customization products.

In terms of manufacturing processes, many companies in the market are working on improvements such as seamless packaging of complex substrates or improved drying procedures for final prints. By making these changes, these businesses can improve efficiency and throughput while reducing costs associated with producing thermal papers.
Astute Analytica has produced a comprehensive industry report, ‘Thermal Paper Developer market – Global Trends and Forecasts through 2022–2030’ that provides analysis of the industry drivers, competitive landscape, current trends, future outlook for key players in this sector.

Overall, the report on global thermal paper developer market finds that producer competition is fierce and growth prospects are uncertain; however, there are opportunities for those who can seize them fast enough. To stay ahead of the competition, producers will need to improve their efficiency and productivity levels; invest in R&D initiatives to improve product quality; develop new marketing strategies to lure customers away from alternative print solutions; and build stronger partnerships with suppliers and other partners in the value chains.

Top Players in the Global Thermal Paper Developer Market

  • ANAYANG GENERAL CHEMICAL
  • CHAMELEON SPECIALTY CHEMICALS
  • CONNNECT CHEMICAL
  • SOLENIS
  • THE DOW CHEMICAL COMPANY
  • EVONIK INDUSTRIES AG
  • SINOPEC
  • NIPPON SODA CO., LTD.
  • WEIFANG DAYOO BIOCHEMICAL CO., LTD.
  • SABIC
  • TORAY INDUSTRIES, INC.
  • MITSUBISHI CHEMICAL GROUP CORPORATION
  • Other Prominent Players

About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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India’s Acetic Acid Imports Doubled in the Past Decade

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IndexBox has just published a new report: ‘India – Acetic Acid – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

In the past decade, India doubled acetic acid imports in physical terms. In 2020, they grew by +7.7% y-o-y to 953K tonnes. Malaysia, Singapore and China constitute the most significant suppliers, accounting for 70% of India’s acetic acid imports. Taiwan featured the highest growth rate of exports to India in 2020. Last year, the average acetic acid import price dropped by -22.9% y-o-y to $349 per tonne.

India’s Acetic Acid Imports by Country

India’s acetic acid imports increased twofold, from 457K tonnes in 2010 to 953K tonnes in 2020. In 2020, imports grew by +7.7% on the previous year’s figure. In 2020, imports grew by +7.7% on the previous year’s figure. In value terms, acetic acid imports dropped notably from $401M in 2019 to $333M (IndexBox estimates) in 2020.

Malaysia (294K tonnes), Singapore (220K tonnes) and China (153K tonnes) were the leading suppliers of acetic acid imports to India, with a combined 70% share of total imports. These countries were followed by Taiwan (Chinese), Saudi Arabia, Iran and South Korea, which together accounted for a further 28%.

Taiwan saw the highest growth rate of export volume among the key exporters. Indian imports from Taiwan rose from $50M in 2019 to $136M in 2020.

In value terms, the largest acetic acid suppliers to India were Malaysia ($104M), Singapore ($79M) and China ($53M), together comprising 71% of total imports. These countries were followed by Taiwan (Chinese), Saudi Arabia, Iran and South Korea, which together accounted for a further 27%.

The average acetic acid import price stood at $349 per tonne in 2020, waning by -22.9% against the previous year. Average prices varied noticeably amongst the major supplying countries. In 2020, the highest prices were recorded for prices from Singapore ($358 per tonne) and South Korea ($355 per tonne), while the price for Iran ($326 per tonne) and Saudi Arabia ($337 per tonne) were amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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U.S. Preserved Crab Meat Imports Recover from Last Year’s Slump 

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IndexBox has just published a new report: ‘U.S. – Prepared Or Preserved Crab Meat – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.

American imports of prepared or preserved crab meat show a sign of recovery this year. In the first seven months of 2021, the U.S. imported 17.5K tonnes of crab meat, which was +4.4% higher than the figures for the same period of 2020. In 2021, the average price for imported crab meat rose approximately by +22% compared to the previous year. Indonesia remains the largest supplier, providing nearly half of the total American import volume. Last year, the U.S. boosted purchases from Indonesia, while imports from Venezuela and China declined.

American Imports of Prepared or Preserved Crab Meat

In the first seven months of 2021, the U.S. purchased 17.5K tonnes of crab meat against 16.7K tonnes of the same period of 2020. In value terms, they increased from $327M to $417M. The average price for imported crab meat grew approximately by +22% compared to the figures of 2020.

In 2020, the amount of prepared or preserved crab meat imported into the U.S. dropped to 30K tonnes, down by -7.8% against the year before. In value terms, prepared or preserved crab meat imports dropped sharply from $693M to $562M (IndexBox estimates) in 2020.  In 2020, Indonesia (14K tonnes) constituted the largest supplier of prepared or preserved crab meat to the U.S., with a 47% share of total imports. Moreover, imports from Indonesia exceeded the figures recorded by the second-largest supplier, Venezuela (2.5K tonnes), sixfold. China (2.4K tonnes) ranked third in terms of total imports with an 8.2% share.

In 2020, the import volume from Indonesia rose by +11.2% y-o-y. The supplies from Venezuela and China declined by -15.9% y-o-y and -14.4% y-o-y respectively.

In value terms, Indonesia ($280M) constituted the largest supplier of prepared or preserved crab meat to the U.S., comprising 50% of total imports. The second position in the ranking was occupied by the Philippines ($46M), with an 8.2% share of total imports. It was followed by Viet Nam, with a 7.4% share.

The average import price for prepared or preserved crab meat stood at $18,894 per tonne in 2020, declining by -12.1% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the Philippines, while the price for China was amongst the lowest.

Source: IndexBox Platform

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Heat-Resistant Nickel Alloy to Witness Soaring Demand from Onshore Power Plants over 2021-2027

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Nickel alloy has always been an important material for various industries, including some high-revenue sectors such as automotive, aerospace & defense, owing to its high solubility with iron, chromium, and other vital metals. The high versatility of the material, along with its exceptional heat and corrosion resistance properties enables its application in aircraft gas turbines, steam turbines in power plants, and other high-performance applications.

In onshore wind power plants, nickel-based alloys are primarily used in the gearing and generator components. On the other hand, in hydroelectric installations, nickel alloys are used in turbines owing to their exceptional erosion and corrosion resistance features.


A growing world government emphasis on scaling up power plant infrastructures, coupled with the soaring number of onshore power projects sanctioned to cater to the rapidly rising electricity demand, would foster the demand for nickel alloy to a large extent.

According to Global Market Insights, Inc., report, the global nickel alloy market size is expected to witness remunerative growth by 2027.

Nickel-based alloys and metals have wide-ranging applications in the automotive sector. Apart from its utilization in many automotive parts, nickel is extensively used in the batteries of electric vehicles. Nickel-manganese-cobalt (NMC) lithium-ion battery is witnessing significant adoption in EVs due to its extended power backup.

The rise in electric vehicle production globally is likely to drive the demand for nickel alloy in the coming years. As per the International Environment Agency, approximately 2.1 million electric vehicles were sold in 2019. Moreover, nickel and chromium plating are also used on numerous automotive components to enhance vehicles aesthetics.

The heat-resistant nickel alloy segment is forecast to hold considerable market share by the end of 2027, particularly owing to increasing demand in high-temperature applications. These applications include oil & gas production, and power plants, among others. There have been rising government initiatives to develop a large number of onshore and offshore power plants and oil & gas refineries mostly in developed nations.

From a regional frame of reference, the European nickel alloy industry share is anticipated to expand exponentially owing to the rising number of passenger jet fleets. As per the CAPA Fleet Database, the passenger jet fleet in Europe rose by 1.8% month-on-month in February 2021, to 3,400. The applications of nickel in aircraft engine turbines bring toughness, high-temperature strength, and durability.

Meanwhile, stringent environmental norms encouraging the adoption of electric vehicles and the establishment of renewable-energy power plants would positively influence nickel alloy business in Europe.

Leading companies involved in global nickel alloy business include Ametek Inc., Sandvik AB, Rolled Alloys, Inc., Aperam S.A., Voestalpine AG, Allegheny Technologies Incorporated, Haynes International, Precision Castparts Corporation (Berkshire Hathaway), and ThyssenKrupp AG, among others. These industry players are focusing on strategic alliances and novel product development to strengthen their position in the global market.

Nickel alloy plays a vital role in the transportation sector, right from its utilization in EVs, aircraft, and traditional automotive. Nickel-based stainless steel is used in passenger trains and subways to offer strongness and durability to the outer body. Superior mechanical properties, along with the ability to dilute with other materials expected to foster applications of nickel and nickel-based materials in the forthcoming years.

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Dry-Type Power Transformer Market to Register Commendable Proceeds in the Coming Years

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Rapid urbanization has increased the demand for electricity which has fueled the proliferation of the power transformer market. Many countries need an effective integration of large-scale power grids to satisfy these demands. Such a significant shift of preference to develop an efficient electric infrastructure will boost the usage of power transformers.

As per a Global Market Insight Inc. report, the power transformer market is anticipated to register a CAGR of around 5% by the end of 2027.

Technological advancements with the implementation of grid networks based on cloud systems have bolstered the consumption of power transformers. In addition, increased financial assistance for setting a grid infrastructure providing power at longer distances will propel the demand for power transformers.

In terms of cooling methods, the dry-type power transformers have high dielectric strength, low maintenance costs and offer zero carbon emissions. Many key players are heavily investing in research and development activities which will probably bolster the product demand. Citing the aforesaid with an instance, ABB, in 2018, announced the Ability TXper digital dry-type transformer which consists of processing units for data analytics, hardware for data storage, temperature sensors, integrated cloud systems. Driven by such initiative and benefits, dry-type power transformer market revenue surpassed USD 5 billion in 2020.

When it comes to the type of insulation, oil insulation is primarily used for commercial and industrial applications. This is one of the reasons that the segment dominated the power transformer market in 2020 with a major share of 58.9%. Increased construction of distribution and transmission infrastructure for inter-state and cross-border projects will significantly contribute to the industry growth. In addition, oil insulation offers fast dissipation of heat, uniform transformer conduction and recoverable insulation performance.

Industrial expansion in developing economies along with increased integration of sustainable sources of power generation have propelled the >800 MVA rating segment. There has been a sizeable rise in the consumption of electricity across large- and medium-level industries such as food processing plants, oil & gas refineries which has boosted the segment growth. With renewable grid structures adopting novel power transmission units, the >800 MVA segment will probably flourish over the projected timeframe.

Regionally, the power transformer market in the Middle East & Africa is projected to showcase sizeable growth owing to increased investments for the infrastructural development of the electric network. This, along with strict regulatory policies for reducing the usage of equipment emitting carbon has bolstered the market growth in the region. With the establishment of micro-grid networks along with revamping & reconstruction of existing power grids, the market for power transformers will promote substantial growth over the coming years.

However, the ongoing COVID-19 pandemic has reduced the investment from private and public sector organizations. But developed countries have taken some radical steps in reestablishing transmission & distribution networks across developing and underdeveloped economies. Such initiatives have stabilized the growth of the market.

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Anti-Reflective Prescription Goggles to Witness Considerable Demand

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Prescription goggles are getting highly popular eyewear among people, who generally use contacts or glasses. These goggles are generally made up of tough polycarbonate and provide features of shatterproof design, better vision, comfort, stability, and many more. Prescription goggles are also specifically designed to be used during various sports and other activities including construction and landscaping. Some of these googles come with anti-fog coating, which prevents fogging and is highly suitable in situations where having a clear vision plays a critical role.

Prescription sports eyewear is witnessing strong demand across swimming, volleyball, diving, baseball, golf, snow sports, and others. With the increase in the number of sports participation and sports events globally, the adoption of prescription glasses is likely to mount considerably in the upcoming years. Global prescription goggles market size is anticipated to significantly grow by 2027.

Polycarbonate goggles demand over plastic glasses

The industry share from the polycarbonate goggles segment is predicted to grow at a notable rate up to 2027, owing to an increasing preference for plastic glasses or lenses. Polycarbonate lenses are lightweight, impact-resistant, and provide protection against UV rays, owing to which they are highly suitable in many applications. These applications include sports goggles, safety glasses used in industrial settings or workshops, space shuttle windshields, helmet visors for astronauts, and others.

Popularity of rimless lens

The rimless lens segment is expected to witness a considerable share in the prescription goggles industry. Rimless lenses are extremely lightweight, less noticeable than the framed glasses, and leaves no marks on the face. These properties are making them highly popular eyewear among corporate professionals, doctors, and students, who are required to continuously wear lenses due to their profession.

AR coated glasses for automotive

The prescription goggles industry share from anti-reflective coating lenses is slated to grow substantially over the next few years. Anti-reflective (AR) coated lenses reduce eyestrains, improve vision, and make eyeglass more attractive. AR lenses are highly preferred in sunglasses, as it eliminates glares from sunlight. Computer glasses are highly adopted among working professionals, employees, students, and computer operators, which help in eliminating eye problems caused by blue light rays.

Prevalence of eye injury in North America

North America’s prescription goggles industry will expand at a notable pace, owing to the presence of corporate sector consumers generating tremendous demand for anti-reflective and rimless lenses. Moreover, the region has a high prevalence of eye problems among employees, which is creating strong demand for polycarbonate lenses.

RxSport, Wenzhou Sunshine Optics, Uvex Safety Group, Speedo, Wenzhou Sunshine Optics, Goggleman, and Essilor, are among some notable makers of prescribed goggles globally. These companies are emphasizing partnerships, mergers, and new product development to enhance their market share and strengthen their presence in the global market.

Recent technological advancements in contacts and lenses have significantly enhanced eye vision even in the low-light and continuous light interference. For instance, the application of modern anti-reflective coatings can eliminate the reflection from lenses and allow 99.5% of light to refract through the lenses and enter the eye for better vision.

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5 Crucial Trends Set to Influence Contact Lenses Market Outlook

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The growing geriatric population coupled with an increasing prevalence of visual defects across the world are some factors responsible for the expansion of the overall contact lenses market size. The increased occurrence of vision impairments across the world can evidently be cited by the 2018 WHO report which suggested that approximately 1.3 billion people were diagnosed with some kind of eye disorder.

On that note, according to Global Market Insights Inc., the contact lenses market is speculated to exceed USD 14 billion by the end of 2025.

Here are some trends that are expected to boost contact lenses market size from 2019 to 2027:

Growing adoption of hybrid lens

A hybrid lens is the combination of a soft lens and an RGP lens. These lenses provide a fine balance of clarity and comfort, owing to which the hybrid lens segment is touted to proliferate at a rate of 5% over the projected timespan. Hybrid lenses are primarily used by patients diagnosed with presbyopia and astigmatism owing to their large diameters that enable a stable vision. These lenses are also preferred by sportspersons due to their stable positioning even during rigorous physical activities.

Increasing usage of hydrogel material to spur the production of contact lenses

Hypoxia is the condition where the corneal surface of the eye receives less oxygen. Contact lenses made using hydrogel material allow more oxygen flow in comparison to the one with polymer material, thus relinquishing the possibility of hypoxia. Owing to all these factors, the hydrogel material is anticipated to account for an 80% market share by the end of 2025.

Surging penetration of smartphones to benefit online distribution channel

There has been a significant rise in the smartphone consumer base in recent times. This has subsequently paved the way for increased consumption of internet services. Such large-scale penetration has prompted contact lens manufacturers to promote and sell their products on e-commerce platforms. This widens their consumer reach to a greater extent.

Not only that, these platforms offer a premium shopping experience through their websites, and the products are priced competitively. Additionally, online shopping platforms prioritize consumer convenience with prompt home deliveries. Considering all these factors, it is forecasted that over 350 million units of contact lenses would be shifted through these channels by 2025.

Growing prevalence of near-sightedness to stimulate the demand for spherical lens

Globally, a significant number of people are being diagnosed with near-vision impairments like myopia and presbyopia. A WHO report of 2018 suggested that over 826 million were diagnosed with near-vision disorders worldwide. These patients are recommended to use spherical lenses to adjust their vision. In addition, people with low levels of astigmatism are also prescribed spherical lenses. Owing to these factors, the spherical lens is speculated to register a growth rate of above 7% through 2025.

Increasing patient awareness campaigns in North America

The contact lenses market in North America held a market share of 30% in 2018. This sizeable share can be credited to the increasing prevalence of eye disorders in the region. Supporting this statement, data provided by the National Health Interview Survey stated that over 26.9 million American adults are diagnosed with vision impairments.

This has prompted key contact lens manufacturers to initiate awareness programs regarding eye disorders and their treatments. For instance, Essilor Group initiated an awareness campaign for myopia across the United States in September 2018. This campaign addressed the rising prevalence of myopia in the country and provided solutions like using contact lenses for vision adjustment.

Fire Protection Systems
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Fire Protection Systems Market Revenue to Observe 5.5% Gains to 2027

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Recent trends in the global fire protection systems market are driven by an upsurge in product launches by major fire safety equipment suppliers.

For instance, in October 2020, Honeywell rolled out the first tools from its new suite of CLSS (Connected Life Safety Services), the company’s first all-in-one cloud platform for fire protection systems. The organization’s CLSS line of tools, developed on the Honeywell Forge platform, allows fire technicians to provide compliance, minimize disruption, and decrease the time required for installation, design, maintenance, commissioning, and reporting of life safety systems.

According to Sameer Agrawal, Honeywell’s General Manager of Global Fire Software and Services, today’s global environment requires the life and fire safety industry to innovate solutions that allow system integrators and facility managers to diagnose issues and monitor their systems irrespective of the time and location.

Similar advancements are expected to boost the demand for fire protection equipment through the forthcoming years. On this note, the global fire protection systems market size is estimated to surpass USD 70 billion by 2027, cites the latest research by Global Market Insights, Inc.

This growth is attributed to the rising product demand in light of the surging number of fire accidents due to the lack of fire protection systems at heritage sites.

For exemplar, in 2019, the NCHA (National Cultural Heritage Administration) reported almost six fire accidents at heritage sites and buildings. For overcoming like issues, the Chinese government has started the deployment of fire protection systems as prevention measures.

Some major trends driving fire protection systems industry outlook comprise:

Increasing industrialization and urbanization in the APAC

The Asia Pacific fire protection systems market is set to exhibit an appreciable CAGR through 2027, considering the rising urbanization and industrialization in the region.

Various countries comprising India, Japan, and China are focusing on the implementation of numerous building guidelines and codes for the fire safety of structures, bolstering the demand for fire protection equipment in the region.

Rising corporate strategies by major industry participants

Prominent players in the fire protection systems market include Schneider Electric, Johnson Controls International PLC, Siemens AG, Fire Suppression Limited, Napco Security Technologies, Hochiki Corporation, Schrack Seconet AG, and others.

These fire safety equipment suppliers are focusing on various collaborative strategies such as acquisitions and mergers for the expansion of their geographical footprint.

For instance, in June 2018, Johnson Controls rolled out its fire protection system, Autocall, in the Middle East for its application in large as well as small projects in industries comprising oil & gas and chemical.

Surging product usage across the residential sector

An escalation in the loss of life and property damage on account of the rising residential fire accidents is slated to foster the growth of the residential segment in the fire protection systems industry through the ensuing years.

Furthermore, a rise in the demand for construction activities due to an increase in population is expected to boost the deployment of fire protection systems in buildings.

In a nutshell, surging government standards and regulations for the improvement of the safety of individuals and industrial, commercial and residential property during fire outbreaks will augment fire protection systems market share over the assessment period.

Source: Global Market Insights, Inc.

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Rapid Urbanization and Westernization of Diets in Asia Propel the Cheese Market

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IndexBox has just published a new report: ‘Asia – Cheese – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

Although cheese consumption in Asia remains lower than in Europe and the U.S., the westernization of food habits of the Asian population leads to an increase in demand, especially from young more exposed to fast-foods. The boosting online sales channel and an early shift from the lockdown in China offset the negative impact of the Covid crisis on HoReCa and retail. 

Key Trends and Insights

Cheese consumption in Asia remains low compared with Western countries because the Asian population is more disposed to suffer from lactose intolerance, and there is a lack of established cheese production and consumption culture.

The process of rapid urbanization in Asia, combined with the rise in household incomes and the increasing popularity of the Western lifestyle amongst the middle- and high-income population, promote the cheese market. The increasing consumption of pizza and other European-style fast-foods appears as a fundamental consumer trend, particularly amongst young people. Thus, the cheese market in Asia is concentrated in large cities, where the average-high income segment of the population mainly lives. For the above reasons, and due to the growing population, IndexBox expects the Asian cheese market to expand with an anticipated CAGR of +1.4% from 2020 to 2030, which is projected to bring the market volume to 3.4M tonnes.

Imports buoy over 40% of cheese consumption in Asia. Although an increase in the demand is forecast in the medium term, the possibility of a sharp surge in output remains limited due to the lack of pasture land to expand milk production. High costs for producing cheese in Asia could become another restraining factor. China’s cheese costs may exceed those in the UK or U.S. near twofold.

The spread of Covid-19, to a certain extent, disrupted trade chains in Asia but did not impact dramatically on the major consumption trends. In 2020, cheese imports in China, Iraq, and Korea rose significantly despite the pandemic restrictions.

China constitutes the largest producer and consumer of cheese in Asia. Still, the per capita consumption remains significantly lower than in the other Asian major cheese-consuming countries and tangibly lower than in the U.S. or Europe. This indicates a weak market saturation and a robust potential for market growth. The rising demand in China, driven by rapid urbanization and a middle-class expansion, is to continue driving the Asian cheese market.

Cheese imports by the Republic of Korea have been increasing steadily, buoyed by a sharp increase in consumer demand for packaged meals containing cheese and rising demand from the food processing industry. Moreover, tariff reductions and increased tariff-rate quotas have lowered cheese prices, boosting imports.

Developed countries, such as Japan and Israel, are set to indicate only weak market growth. Per capita cheese consumption is already high, the population is stagnating, and there are currently no prerequisites for any sharp changes in consumer preferences. In Japan, the free trade agreement with the EU entered into force in 2019, which improves the availability of European cheese against that from Australia and New Zealand. In 2020, imports into Japan slightly decreased owing to reduced consumer purchasing power, which falls disproportionately on high-priced milk products such as cheese.

In the Middle East, moderate growth of the cheese market is forecast, driven by similar trends of the gradual rise in household incomes and the penetration of a western lifestyle. A certain potential remains relevant for the markets of Syria and Iraq, should both countries recover from the instability of recent years.

Albeit not affecting the market fundamentals dramatically, the pandemic led to significant shifts in sales channels. During the HoReCa sector was hampered by the lockdown, online sales emerged rapidly. Cheese is widely used in Western-style fast-foods that could keep the take-away services in operation, which mitigated the negative effect of the pandemic. China shifted from the pandemic earlier than other countries, which also contributes to the market recovery.

Cheese Consumption by Country

In 2020, the Asian cheese market increased by 0.6% to $12.1B, rising for the fourth year in a row after two years of decline. The market value increased at an average annual rate of +1.5% over 2012 to 2020. The most prominent growth rate was recorded in 2017 when the market value increased by 9% year-to-year. Over the period under review, the market reached the maximum level in 2020 and is likely to see gradual growth in years to come.

The countries with the highest volumes of cheese consumption in 2020 were China (506K tonnes), Japan (377K tonnes) and Iran (316K tonnes), with a combined 41% share of total consumption. These countries were followed by Turkey, Saudi Arabia, Israel, Myanmar, South Korea, Syrian Arab Republic, Azerbaijan, Kazakhstan and the United Arab Emirates, which accounted for a further 41%.

From 2012 to 2020, the most notable growth rate in terms of cheese consumption, amongst the main consuming countries, was attained by South Korea, while cheese consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese markets in Asia were China ($2.1B), Japan ($1.7B) and Israel ($1.1B), with a combined 41% share of the total market. These countries were followed by Iran, Saudi Arabia, Turkey, Myanmar, South Korea, Syrian Arab Republic, Azerbaijan, the United Arab Emirates and Kazakhstan, which accounted for a further 42%.

In 2020, the highest levels of cheese per capita consumption were registered in Israel (19 kg per person), followed by Azerbaijan (7 kg per person), Saudi Arabia (6.19 kg per person) and the Syrian Arab Republic (4.74 kg per person), while the world average per capita consumption of cheese was estimated at 0.62 kg per person.

Cheese Imports by Country

In 2020, Japan (292K tonnes), distantly followed by Saudi Arabia (181K tonnes), South Korea (148K tonnes) and China (129K tonnes), represented the largest importers of cheese, together committing 61% of total imports. The United Arab Emirates (52K tonnes), the Philippines (41K tonnes), Malaysia (35K tonnes), Kazakhstan (34K tonnes), Taiwan (Chinese) (34K tonnes), Kuwait (29K tonnes), Indonesia (27K tonnes), Jordan (25K tonnes) and Yemen (20K tonnes) followed a long way behind the leaders.

From 2012 to 2020, the most notable growth rate in terms of purchases amongst the key importing countries was attained by China, while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($1.3B), Saudi Arabia ($683M) and South Korea ($629M) appeared to be the countries with the highest levels of imports in 2020, with a combined 49% share of total imports. China, the United Arab Emirates, Malaysia, Taiwan (Chinese), Kuwait, the Philippines, Indonesia, Kazakhstan, Jordan and Yemen lagged somewhat behind, accounting for 34% (IndexBox estimates).

Source: IndexBox AI Platform