Global Food Glazing Market – Reinforcing Retail Food Growth

food glazing market

Additives which when applied over food products provide it with polished, protective, and shiny coating, are known as food glazing agents. Bakery and confections, fruits as well as ready-to-eat (RTE) products, among others are generally applied with food glazing agents. These additives are derived from both artificial and natural sources.

Vegetable Waxes, Beeswax, Other Insect Waxes and Spermaceti, Whether or Not Refined or Coloured (Excluding Triglycerides)

food glazing market

In Thousands of US Dollars

Source: International Trade Centre

The food and beverage industry has been experiencing a rapid transformation during the past few years due to a multitude of factors that are inclusive of but not limited to digitalization, globalization, incomes increase, internet penetration, policy changes, population growth, shifts in food consumption patterns and diets, trade liberalization as well as urbanization. One of the most significant to start with is globalization, which has food markets in both developing and developed markets. This is mainly due to the resultant creation of a single global market that is devoid of protectionism and is promoted by trade agreement among various nations. To this end, it is important to note that as of June 2020 there are 303 regional trade agreements (RTAs) were in effect. The most recent being the European Union Vietnam Free Trade Agreement (EVFTA) & EU-Vietnam Economic Integration Agreement (EVIPA) between EU and Vietnam, whereby 65% of duties on EU exported to Vietnam will be reportedly abolished whereas the remaining will be gradually eliminated in coming 19 years. On the other hand, 71 % of duties on exported originating from Vietnam will be eliminated while the remaining be eliminated over seven years.

It is an ambitious agreement that seeks to eliminate almost 99% of customs duty between the EU and Vietnam, it is expected to facilitate investments in the food industry, among others. The complementary nature of Vietnam’s competitiveness in the agri-food sector and labor-intensive industries and the EU’s high-tech and quality management expertise with investment capabilities is expected to make the situation more conducive, especially for the processed food category. Further according to report by Delegation of the European Union to Vietnam one of the benefits from tariff elimination for EU exporters that have been exampled therein is that of food preparations will become duty-free after 7 years. Further facilitating increased access to Vietnamese markets. Further, the internationalization of the food market has effectively contributed to the diffusion of snacking practices among others which has been further augmented by the proliferation of fast-food restaurants across the world, food delivery services as well as increased innovation.

In view of the above, it is important to note the APAC region is expected to drive the global food glazing agents market growth to new heights. Taking the example of the food processing industry of Joan which is to the tune of $220 billion according to USDA reports of July 2020 is known to produce a wide range of food products concomitantly fueling the food retail industry which in 2019 registered a food and beverage sales $483 billion. Confections are one of the leading applications that hold a share of the retail food sector. Particularly to Japan, this is exemplified by the recent launch of a new KitKat snack mix that combines sweet and salty flavors by Nestles. Additionally, convenience is expected to further augment the growth of the market facilitated by digitization. This would partly drive the APAC region to contribute to market growth. For instance despite the COVID-19 pandemic continued to impact the daily operations of chinse food deliver giant Meituan-Dianping’s (SEHK: 3690) merchants, that includes restaurants, hotels, and other local services, the organization reportedly registered a revenue for the end quarter of 2020 increased by 8.9% year-over-year to RMB24.7 billion from RMB22.7 billion for the same period of 2019.

Moreover, the Gross Transaction Volume of its food delivery business increased by 16.9% year-over-year to RMB108.8 billion. At a rate of 6.9% year-over-year, the daily average number of food delivery transactions increased to 24.5 million. The food delivery business further registered an increase in average value per order by 9.4% year-over-year.  The operating profits from the food delivery business transitioned to a positive figure of RMB1.3 billion for the second quarter of this year and increased by 65.7% year-over-year with operating margins improving by 2.7%-points year year-over-year. On the other hand, in India, Amazon.com, Inc. (NASDAQ: AMZN) had launched its online food delivery operations in select pin codes of Bengaluru. With Amazon Food this strategic initiative comes when Uber sold its food delivery business, Uber Eats, in India to local rival Zomato during January 2020, suggesting the degree promise which the Indian market holds.

Rural Population (% of Total Population)

food glazing market

Source: World Bank

Before all foregoing, it is important to note that the globalfood glazing agent market is also influenced by the increasing global population and rural to urban migrations. In view of the above, the gradual growth of the population and simultaneous rapid urbanization and adoption of new trends is anticipated to further drive the demand for processed food. A marked shift from the traditional means of food and beverage consumption and increasing expenditure on processed food which is native to urban and peri-urban areas. Presently a majority of the global population lives in urban areas. In 2018, Northern America was the most urbanized region in the world, with 82 % of its population living in urban areas. Further, according to the UN, the share of the global population is anticipated to rise from 55 % in 2018 to 60 % in 2030. Additionally, the fastest-growing cities are in Asia and Africa, with the African urban population projected to grow three times the present and that of Asia is to increase by 61% which in turn is expected to propel the growth of the urban population. By 2030 the number of megacities is expected to increase numbering to 41 hosting 14% of urban dwellers across the world.

Pet Food Ingredients Market Trend – Nourishing the Rise of Quadruped Flexitarians

Globally, the proclivity of pet ownership is increasing. Especially with regards to the aging population in matured economies, many consumers are considering animals their companions. Furthermore, the rising population of singles and childless couples are increasingly perceiving pets as companions. In developing economies, the increasing availability of disposable income has facilitated pet adoption in greater numbers. It is a fact that the existence of pets in human lives is a time-honored aspect, nevertheless with an increasing shift in perception pets now occupy human spaces that even extend to social media.

Thus, with the advent of pet parents emerges the concept of humanization. This has resulted in aspirations for offerings for pets that take into account the same concern for health and wellbeing, which would influence consumer choices when purchasing products meant for human consumption. The aforesaid is one of the fundamental determinants influencing the decision of pet food purchases that are expected to drive the demand for pet food ingredients.

The Emerging Trend of Limited-Ingredient Diets to Positively Influence the Pet Food Ingredients Market

The human dietary pattern is marked with a variety of trends, a few of them pertain to a substantial restriction of certain kinds of food. The same has emerged in the pet food market and is being made commercially available in the form of limited-ingredient diets (LID) that are known to constitute a short ingredient list to deliver maximum nutrition. More consumers are turning to limited ingredients for simplicity in their pets’ diets with the increasing momentum of meat-first formulations that focus on high-quality proteins at the forefront of a short ingredient. Due to the reduction of ingredients salmon oil, patented probiotic, miscanthus grass, inulin, among others are few of the consideration which is increasingly becoming integral to pet food and supplement. Further, particularly for pets that may have specific dietary restrictions, a high-quality, accessible limited-ingredient diet has the potential to improve pets’ well-being and allow them more quality time with their owners.

A recent example is the launch of Brilliant Salmon Oil, which is a single ingredient product and devoid of any additives, by Hofseth BioCare, during July 2020, in Canada and the United States that has been made commercially available in the independent pet specialty channel. The supplement is reportedly human grade and is known to offer functional benefits that include healthy coat, skin and paw pad as well as facilitate the increase in appetite and energy. The company reportedly manufactures its salmon oil in Norway using Norwegian Atlantic salmon and a patented extraction process. Further augmented by increasing consciousness of allergens and food sensitivities for companion animals, and due to the growing adherence with the trend towards clean eating, the growing popularity of LID is expected to foster pet food product innovation which in turn is expected to drive the growth of pet food ingredients market.

The Transcendent Trend of Plant-Based, Vegetarian and Vegan and Its Influence Favorable to Pet Food Ingredients Market Growth

With increasing awareness that pets do not essentially need animal meat but they need protein, which can be derived from a plethora of sources that are, inclusive of but not limited, to proteins from plants, insects, fungi, and cell-based lab production, the pet food ingredient market growth is estimated to be driven by the aforementioned trend, as well. For instance, in August 2019, the renowned maker of koji-protein dog treatsWild Earth, Inc., had reportedly launched its first dog food product at SuperZoo which was made commercially available by independent US pet retailers. The reportedly balanced and complete diet for dogs is meatless and each serving contains 31% complete protein derived from yeast. Other ingredients, which the diet comprises are sweet potatoes, spinach, pumpkin, oats, chickpeas, blueberries, and spinach and is devoid of artificial flavors or preservatives. Moreover, in August 2020, it was reported that the Scoular Company will construct its $13 million barley protein concentrate (BPC) manufacturing facility, to the south of the company’s existing livestock feed ingredient facility, in Jerome. It spans 15,000 sq. ft and is to be reportedly constructed on 4 acres of land, in Jerome. Earlier in June that year, a partnership with Montana Microbial Products was announced by the company to produce and market the sustainable, plant-based protein ingredient for Asian and North American pet food manufacturers, among others.

Further, proteins are not the only consideration for pet food formulators who have to carefully weigh in the science behind a trend, the size of the product that is in trend, and the product portfolio diversification.  Vitamins, minerals, and fibers are also equally important which was exemplified by the reported launch of new vegetable ingredients by Duynie Group, a ROYAL COSUN company earlier in November 2018. These ingredients are dried and reportedly ground where applicable.  Further, it was also reported in May 2020, that to respond to the demand for sustainably produced high-quality pet food ingredients, Duynie Ingredients will officially move to its new office at the climate-neutral factory which has been recently built in Cuijk, the Netherlands. The factory would reportedly operate entirely on residual heat from an adjacent biopower station.

COVID 19 and Its Influence on the Pet Food Ingredient Market

Just like it is in the case of retail food for humans the pet food market is also expected to witness a surge in demand for all-natural products with a special emphasis on the origin of the ingredients and how the ingredients have been sourced. The high rates of furloughs and unemployment due to the pandemic are expected to dissuade the consumers from aspiring for premium price tags which comes with the territory of sustainable as well as naturally-formulated pet products. However, the trend for pet food with naturally derived ingredients is expected to witness an upwards trajectory, in the years to come. Another trend that is expected to primarily stem from trade disruptions due to COVID 19, is the increasing domestic sourcing of ingredients which is expected to augment the growth of domestic pet food ingredient markets. Nevertheless, national regulatory compliances (wherever present) are expected to create challenges that are estimated to further provide opportunities for pet food ingredient manufacturers resulting in newer product developments.

Organic Feed Market Trend – Fostering Sustainable Livestock Farming

Animal feed is fundamental to animal health and welfare which results in the production of quality and safe products of animal origin. Additionally, the increased demand for proteins derived from animals has led to an intensification of livestock production. The issue of feed safety has also achieved prominence due to an increasing trend of clean label consumption trends as well as the need to prevent and control hazards like dioxin, aflatoxins, and other undesirable substances. The aforementioned factors are collectively responsible for increasing demand for animal feed.

The current general production scenarios as per FAO is that the global meat production in 2020 is expected to fall by 333 million tons (carcass weight equivalent), 1.7 % lower than that of 2019. Also, pig meat production is expected to fall duet to African swine fever (ASF) that is largely concentrated in Asian countries. On the contrary, the global poultry meat production is estimated to grow. Also, with a growth output of modest nature, ovine meat production is expected to grow. Further world milk production is forecasted to grow by 0.8 % to 859 million tons. The factors that are responsible for growth are increasing in production in Asia and North America, with modest growth in the Caribbean, Oceania, Central America, and Africa. Additionally, despite the economic difficulties due to COVID-19 along with logistical hindrances, and a sharp decline in sales of food and beverage due to the closure of food and beverage establishment, the demand for dairy and meat products has been met through an increased eCommerce purchase which sustained the food and beverage industry during the lockdown measures. Moreover, post world normalization the demand for meat and dairy is going to rise.

Further, increasing modernization of farms in China and the engagement of village cooperatives in India are sustaining milk output growth in Asia. On the other hand, there is a reported increase in milk output in the Russian Federation which is largely driven by a modern dairy farm. At the same time, the international meat trade is anticipated to increase to 37 million tons in 2020, up 2.4% year-on-year. Much of the trade momentum is expected to be provided by China, as imports are seen rising by 24 % year-on-year. The demand for meat imports which is projected to rise is expected to be met mainly through increased exports by the USA, the United Kingdom of Great Britain, the European Union 27 member countries (EU), Northern Ireland (the UK), and Brazil. The aforesaid is a snapshot that further reaffirms the importance of feed safety to ensure food security. This supports the need for the same degree of quality assurance that is observed in the case of food production, thereby potentially contributing to the anticipated organic feed market growth.

According to a recent report by the Research Institute of Organic Agriculture (FiBL)as of 2018, 186 countries around the world have been partaking in organic activities, the global organic market registered value of 96.7 billion euros and above all, there were 103 countries with organic regulations as compared to 93 countries in 2017. Additionally, in Europe, the highest organic shares were for sheep and cattle. Due to the high demand for eggs, the organic share for poultry witnessed the greatest increase. Accounting for 4.85 million heads in Europe, the largest numbers of bovine animals are present in Germany, France, and Austria. With an overall share that is more than 20%, the highest organic shares are in Latvia, Liechtenstein, Sweden, and Austria. The highest organic shares that are more than 40% encompasses the Baltic countries of Estonia, Latvia and Lithuania, and the Czech Republic. Moreover, the European organic cow’s milk product as of 2018 was to the tune of 5.4 million metric tons constituting 3.4 % of the European Union’s milk production from dairy cows. The report also notes that with the aid of increasing availability of organic feed, organic livestock is projected to grow significantly for pigs and poultry, with the possibility of the share of organic poultry doubling to 5%. Further, facilitated by increasing organic cheese production, the growth of organic dairy is expected to grow. Thus, with such a well-developed European organic livestock farming, among others and the expectation of growth in organic demand mentioned in a new publication on the agricultural outlook 2019-2030, Europe is expected to hold a robust share of the organic feed market. According to the Commission, the EU organic area is projected to reach 18 million hectares by 2030, i.e. 10 % of the total agricultural land, representing growth in land use of 3 % per year.

Thus, despite the characteristic high labor input associated with organic production the aforementioned reaffirms with the estimated upward trajectory of organic feed market in the coming few years. Further, a variety of standards, legislation, and policy support are expected to augment the growth of the same. Thus, again revisiting the aspects of the EU, it was reported that Regulation (EC) No 834/2007, on the basis which the region had gained considerable experience, will be repealed and replaced by the new Regulation (EC) No 2018/848 from the 1st of January 2021. Contained with the regulation the intention of ensuring the integrity of organic production at all stages of the production and processing and distribution processes of animal feed, among others, has been mentioned. Earlier, in April 2019, a Memorandum of Understanding on Organic Products was reportedly implemented between Brazil and Chile to facilitate trade in organic products in both countries through the mutual recognition of their certification and control systems. The negotiations were executed between the Ministry of Agriculture, Chile through the Agricultural and Livestock Service (SAGI) and the Coordination of Agroecology and Organic Production of the Ministry of Agriculture, Livestock and Supply of Brazil (COAGRE-MAPA). Thus, with such initiatives implemented by the government, it can be stated with certitude that the environment is gradually becoming more conducive for the use of organic feed.

Organic Tea Market Trend – Fostering Soildari-Tea Over Healthy Invigoration

Tea that is produced from tea crop that has been cultivated using organic agriculture is generally referred to as organic tea. According to a report by FAO, considering climate change adaptability, organic agriculture stands a better chance when it comes to sustaining tea production. This is important to note because tea production is by default geographically limited to a few areas around the world and it is highly sensitive to changes in growing conditions which is currently at risk due to climate change. Along with key determinants of the global tea economy which are inclusive of but not limited to cultural influences, demographics, among others the demand for organic tea is mainly driven by the increasing availability disposable income particularly because in comparison to the conventional tea organic tea is priced 20% to 50% higher. Concomitantly the growing consumer interest in organic locally secured specialized premium teas has also increased which is anticipated to drive the organic tea market.

From the perspective of cultivation, of organic tea, it should be noted that the use of organic permanent cropland which is inclusive of in-conversion areas in 2018 was 1,40,511 hectares compared to that of 1,24,910 hectares in 2017 as reported by Research Institute of Organic Agriculture (FiBL). In Asia, approximately 1,32,000 hectares of organic permanent cropland are utilized for tea with almost 3.7% of the total tea grown that is being organic. A majority of which is grown in China accounting for 1,11,000 hectares which are followed by Vietnam accounting for almost 8,900 hectares. On the other hand, with a rising quantum of export of organic tea, the share of certified organic tea farms accounts for 6.3 % of the total tea farms, in Japan. According to the latest report by FiBL, the share of these farms is considerably higher than that of other organic crops in Japan. On the other hand, with the adoption of the National Organic Agriculture Policy (NOAP) in 2016 by the Government of Bangladesh, there has been an increase in the growth of the organic sector in the country. The total certified area that comes under the purview of organic production is 6,000 hectares, out of which 503.9 hectares is covered by organic tea. Germany, Japan, the UK, and the USA are the main export markets for organic tea produced in Bangladesh.  The aforementioned snapshot suggests an upward trajectory in the demand for organic tea which is anticipated to contribute to the organic tea market growth.

Moreover, organic agriculture has a range of benefits that are inclusive of but not limited to the preservation of inherent soil fertility through the retention of organic matter in soils. This aids in the sustenance of soil productivity even during the cases of floods, irregular rainfall, rising temperature, and drought. Organic farming also has the potential of reducing greenhouse gas emissions as it requires less fossil fuel per hectare. The enhanced soil fertility leads to the stabilization of soil organic matter and in many cases leads to the sequestration of carbon dioxide into the soils. These benefits have incentivized various national governments to implement national programs to promote organic farming. Besides the example of Bangladesh cited earlier, the Government of India has implemented a national program that comprises the promotion of organic farming, standards for organic production, and the accreditation program for Certification Bodies, among others called the National Program for Organic Production (NPOP). A noteworthy mention is the declaration of the fully organic status of the state of Sikkim in 2016 which is known for its variety of organic teas. Such national compliance requirements are expected to augment the growth of the organic tea market.

From the perspective of importing countries, Europe holds a substantial share of the organic tea market which is facilitated by larger consumer awareness, certifications, and product innovations and the recent clean label movement that is revolutionizing the food and beverage industry. According to the Centre for the Promotion of Imports from developing countries, West European countries and Poland are the largest European tea markets, with a strong tea tradition. With the preference for unique tea blends and value-driven consumption habits, the demand for tea that is organically produced is expected to grow in the next few years. For instance, a UK based brand Jing Tea has reportedly launched its single garden Organic Darjeeling First Flush Supreme, a spring 2020 tea in July 2020. This tea pertains to those leaves picked during early March 2020 from Badamtam Garden estate. It is reportedly one of the best known and highest quality estates for the first flush in Darjeeling, India.

Besides Europe, earlier in June 2019 Davidson’s Organic Teas which is a vertically integrated organic tea company that blends, packages and distributes all its products internationally from its facility in Sparks, Nevada, USA has reportedly added 12 new tea blends to its product line. The products of the organization are Fair Trade Certified and USDA Organic Certified.  Earlier the same year in during February, AKEBONO TEA, which is the world’s first and only organic tea brand specializing in Japanese green tea bases, had reportedly announced the launch of their line of organic teas which infuse herbs with traditional Japanese teathat are derived from tea leaves that are grown and handpicked at a farm located at the bottom of Mt. Fuji. All the blends are reportedly certified organic by JAS. During the same month it was reported that to respond to the increasing demand for high quality and authentic organic Japanese matcha tea, Sugimoto Tea Company has opened a second factory in Shizouka, Japan, enabling the company to produce more blended teas in Japan. Thus, these key market developments pertaining to organic tea market exemplifies an upward trajectory that has been forecasted for the same.

Global Gas Turbine Market Trend – Fostering Clean Power Generation

Rising population, a rapid rate of urbanization resulting in the increased demand for energy along with rising acknowledgment of negative environmental impacts of coal-based power generation is anticipated to drive the gas turbine market to a new zenith during the next few years. A recent example pertaining to the latter is the announcement by TransAlta Corporation (NYSE: TAC) in September 2019, about Clean Energy Investment Plan amounting to CND$2 billion that reportedly included the conversion of its existing Alberta coal assets to natural gas, thereby enabling the organization to achieve a leadership position in the renewable energy-based power generation by 2025. In view of the above, it was reported in June 2020, that the organization is reportedly converting Keephills and Sundance coal-fired plants to natural gas, located in Alberta, Canada. As part of its coal-to-gas conversions (CTG), the two 230MW Siemens F class gas turbines, which were purchased by the organization reportedly in October 2019, will be integrated into the steam turbine that is already installed in Sundance Unit 5, facilitating the conversion into an efficient combined-cycle unit.

Projectionof Total Population at Mid-Year, World

gas turbine market

Source: United Nations,

2020-2060: MEDIUM VARIANT

According to IEA, the year 2019 witnessed the expansion of gas fire generation by 3%.  China experienced a slow down in its growth reportedly witnessing a reduction from 30% in 2018 to 6% in 2019 with gas supporting a small share of power generation that was reportedly less than 4%. Europe witnessed an increase in usage of gas for power generation which was around 9% due to CTG conversions. In Japan, the use of gas dropped by 8% that in part stemmed from overall lower power demand and higher nuclear power output. Spending on gas-fired power continued to decline in the United States and the MENA region during the year while increasing in Russia and Europe. Since 2016, for the first time, the number of gas-fired generation grew, which comprised more than 55 GW. Planned gas fire projects especially those of combined-cycle plant projects had reportedly increased driven by the need for ancillary services, firm capacity, and ensuring flexibility to the system with more variable renewable projects being commissioned.

Nevertheless, the APAC region had witnessed developments in power projects pertaining to gas turbines.  For instance, Doosan Heavy Industries & Construction (KRX: 034020) had reportedly announced in September 2019, the final assembly of large 270MW gas turbine in development as part of the national projects which was developed with a total investment of KRW one trillion and took 6 years to complete. The resulting establishment of the new gas turbine industrial ecosystem is expected to substitute energy imports of about KRW 10 trillion 2030. Moreover, in July 2020 GE (NYSE: GE) had reportedly announced that Advanced Gas Path (AGP), which is the organization’s advanced gas turbine technology upgradefor the upcoming 718-megawatt (MW) combined cycle power plant in Meghnaghat, Bangladesh by a joint venture between India’s Reliance Power and Japan’s JERA called Reliance Bangladesh LNG & Power Ltd. In view of the above Meghnaghat power plant will be powered by two GE 9F gas turbines, among others, to generate electricity from re-gasified liquified natural gas (LNG).

Nevertheless, the applications pertaining to power generations will witness a downward draft as the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, have been cutting output since May by 9.7 million barrels per day due to the crisis that has been brought about by COVID 19 which had reportedly affected a third of global demand that lead to a price collapse, leading to 21-year low which is below $16 during April 2020. This has led to the oversupply of the byproduct of the crude output which is known as natural gas leading to a fall in price. This has led to a historic price drop, which has led to the decision to cut down production, among others, thereby eliminating gas output as well. The further market of gas turbines is estimated to face a slight dent in growth due to cancellation of projects as evidenced by an announcement in April 2020, whereby E-Fan X, a joint effort between Airbus and Rolls-Royce to develop an experimental hybrid-electric aircraft, which encompassed, among others, a Rolls-Royce AE 2100 gas turbine-driven power generation system and high power electronics resulting in a reported 2.5 MW power generation system.

On the other hand, Iberdrola Clientes S.A.U. (BMAD: IBE) had in June 2020, reportedly canceled a project in Mexico pertaining to build a combined cycle power plant because of the organization couldn’t reach a supply agreement with the state utility, known as CFE. Further delays in deal closures are also expected to affect the gas turbine market. For example, a deal between OMV Aktiengesellschaft, an Austrian company that is known to produce and market oil and gas and Gazprom has been delayed, and reportedly the two companies aim to sign the final transaction documents by June 2020.  Within the ambit of the deal, the agreement of payment by OVM of 905 million euros ($1 billion) for 24.98% of Gazprom’s Achimov IV and V phase development at the Urengoy gas fields was made. This deal was initially scheduled to be closed by the end of 2019. Another recent development that is affecting the revenue stream of the equipment manufacturers is the deferring of maintenance schedule by power plant operators which is in turn impacting equipment manufacturers who are also major service providers to power plants. For example, during first-quarter revenues of GE’s reported segment was down by 13%. Moreover, the segment profit of negative $129 million was down by $239 million, primarily due to lower services volume and additional costs from COVID-19 disruptions.

Access to Electricity (% of Population)

gas turbine market

Source: THE WORLD BANK

Another category of gas-turbine, which is known as microturbines is expected to augment the growth of the market. A far recent development is concerned in August 2020, Capstone Turbine Corporation (NASDAQ: CPST), globally renowned as the leading clean technology manufacturer of microturbine energy systems, had announced that it secured an order for a global hotel chain for Three low-pressure natural gas-fueled C65 ICHP microturbines to be installed in one of its hotels in Northern California.  These turbines will reportedly provide up to 195 kilowatts (kW) of power and 1.2 MMBTU/hr of hot water to offset utility power purchase and boiler natural gas use. Besides, in the next few years, the soaring energy demands along with the addition of environmental drivers will lead to more investments further driving the growth of gas turbines to new heights.

Importance of Safety Switches

A safety switch is a commonly used device that swiftly switches off the electricity supply on detecting any type of fault aiming to minimize the risk of electricity-related catastrophe. The rising concerns towards the safety and security of industry personnel coupled with the increasing adoption of automation solutions in the hazardous industrial environment are expected to provide an impetus in burgeoning the safety switches market growth during the forecast period.

Increasing fire accidents globally is the main reason for driving the demand for safety switches during the forecast period. For instance, in 2016, there were 1,342,000 fires reported in the United States (source: National Fire Protection Association). These fires caused more than three thousand civilian deaths, 14,650 civilian injuries, and around US$10.6 billion property damage. In industries, combustible liquid, flammable gas, and hot ember or ash are the major causes of fire and cooking, smoking and heating equipment are the major causes of fire accidents at home. The fire death rate per 1,000 fires and the average loss per fire and associated losses are generally lower in high-rise buildings than in any other buildings. This is due to the fact that high-rise buildings make use of new advanced safety switches that ensure the safety of the building.

safety switch market

 

Growing Adoption of Smart Building Concepts

Smart buildings are leading the way of living in today’s life. A smart building that today is gaining popularity is any type of a structure that uses automated processes to control the building’s operation including air conditioning, lighting, heating, ventilation, and security. Fire detection and suppression systems are the major components of these types of buildings that ensure proper safety against fire. Improved quality of smart and safety switches for the physical structure in the case of a smart building is driving the demand for such buildings. Increasing the need to have a safe and advanced building structure will boost the demand for smart buildings which in turn will have a positive influence on the demand for smart and safety switches and systems over the forecast period. Countries around the globe have started building such buildings for better fire protection and efficiency. For an instance, Ottawa has committed to smart buildings across Canada and the federal government also said it will roll out its smart building initiative to up to 100 public buildings across the country over the next three years’ time frame.

Total Infrastructure Investment(Billion Us$, 2015 Prices), 2016 to 2040

safety switch market

Source: Global Infrastructure Outlook, GIHub

The latest technologies like industrial wireless for the industrial Internet of Things (IIoT) promises lower cost of deployment, massive interconnectivity, increased efficiency of the operations, and improved operational analytics which require efficient switching solutions. The manufacturers around the globe are now incorporating the Internet of Things (IoT) in their facilities so as to improve competitiveness, productivity, and responsiveness to customer needs. Emerson Electric Co. on 10 October 2017, laid the foundation for Industrial IoT adoption across the entire manufacturing enterprise. The company even predicts that the next 10 years will see the exponential growth in the adoption of wireless technology that helps companies maximize safety and reliability, optimize production, and enable Industrial IoT strategies.

Growing Industrial Automation Is Expected to Drive the Growth of the Market

The growing automation and increasing complexities about the power management of equipment will be one of the major driving forces for this segment of the market due to the multiple advantages such as the ability to operate in the universal input range and comply ability with standards such as IEC61000-3-2. Furthermore, the dynamic nature of industrial and domestic power consumption will further upscale the demand for active controllers in order to actively maintain the power factor. Moreover, the demand for these switches will also increase to maintain operational efficiency and minimize losses due to higher power consumption and damages to equipment owing to the improper voltage waveform that can even lead to any type of catastrophic event. In addition to this, the growing demand for energy efficiency and power management across various domains coupled with a decline in the prices for the components used in active controllers will lead to the fusible safety switch segment of the safety switch market to rise in the coming years. The growing development of electric vehicles and their increasing popularity has increased to the setup EV charging stations around the world. According to the joint data by the Organization for Economic Co-operation and Development (OECD) and the International Energy Agency (IEA), the publicly available slow chargers rose from 11 thousand outlets in 2011 to 318 thousand outlets in 2017. The number of These charging stations utilize multiple active power factor controllers, resulting in a further increase in the demand for these devices during the coming years.

The European Region Is Anticipated to Hold a Significant Share in the Market

Manufacturing is one of the most important industries in Europe. It employed 29.9 million people in the European Union (EU) in 2015 (source: Eurostat statistics). The manufacturing and semiconductor industry holds a major share, i.e., 33.02% in the Europe safety switches market as the population working under the manufacturing sector is at a greater verge of getting affected by any type of harmful event. Therefore, manufacturers are increasingly using these switches in their facilities so as to provide protection and safety at the workplace. Forward-thinking employers are recognizing that investment in overall safety equipment such as safety switches and workplace health and safety is essential for increased performance. This leading to an increased demand for safety switches from the manufacturing sector. The market is expected to grow at a fast pace owing to a number of manufacturers investing in full advancement of their manufacturing facility with the adoption of technologically advance switches to protect workers from any type of fire disaster with the standards of the worker’s safety set by OSHA and The Scientific Committee On Occupational Exposure Limits (SCOEL) in European Union.

Retail Automation Market Grows Along with Automation in Industries

There is a growing need for automation along all the industry verticals. This is mainly driven by an increasing demand for improvement in operational efficiency and cost reduction. Retail automation is no such exception, with the adoption of innovative tools, technology, and processes it has become easier to ensure a smooth and efficient operation in retail stores resulting in providing a better shopping experience for the consumers. On the other hand, it has become cost-effective for the retailers by helping them in reducing labor costs. In addition, automation in retail stores can help in boosting product sales. The major reason being that the deployment of automation technologies will significantly contribute to reducing longer waiting times in queues for payments. Also, the number of footfalls will increase significantly.

retail automation market

It is widely realized that today retail automation isn’t just used by big players. Several small and upcoming retailers are also finding ways for serving their customers by utilizing better automation solutions. These further help in reducing errors and help in serving particular customer needs. Also, the products are sold in a manner that a customer finds useful. Some of the popular retail automation products include vending machines, service kiosks, retail kiosks, self-checkout and retail apps. Retail Apps are referred to as mobile apps that add to a retail in-store experience. These apps integrate the e-commerce and in-store channels so that a customer is able to purchase a product is not available in-store as per his/her requirements. The presence of apps that are designed in order to interact with in-store items and displays are further offering strong opportunities for the retail automation market to grow at a significant pace. The growing e-commerce sales is further augmenting the market growth with the increasing internet penetration in the world along with the adoption of mobile devices like a smartphone. As per the United Nations telecommunications agency, around 8 billion individuals predicted to use internet by the end of 2018. Africa showed the strongest growth rate in accessing internet that increased from around 2% to 24% from 2005 to 2018.

 

retail automation market

Source: United Nations-ITU Statistics, Internet Access Growth Rate in Africa, 2005-2018

Retail Automation Is Sustainable

It has been noticed that retailers and customers are interested is linking automation with the growing trend of sustainability. Retailers estimated that automation can help them in offering more sustainable and eco-friendly solutions. This further indicates a strong consumer preference who wish to shop with retailers demonstrating green credentials. Many consumers desire to purchase items from those retailers that utilize automation for reducing food waste, reduction in consumables like printed receipts, and contribute to the improvement of energy efficiency, and thus offering sustainable information related to products.  Hence, the increasing sustainability drive across the world will continue to propel the retail automation market growth at present and in future as well. 

Retail Auomation Is Responding to the Changing Needs of the Customer

Coop Norway has offered an intelligent solution for individuals returning late at night who often look for something to eat.  The company introduced an app allowing customers to enter the unstaffed store and help people to self-serve. Coop introduced a store in Central Oslo, Norway. The hyperlocal store functions in a regular manner during daytime but after it turns dark, the store transforms into an unmanned autonomous mode. All transactions are carried out in a digital mode. People who wish to shop after 11:00 PM and before 7 in the morning are allowed to purchase items through a cashless mode. The customer unlocks the door via an app, Coop Key. In order to keep away from thieves, the store contains two doors that needs to be unlocked by the customer itself. In between the two doors, a camera is installed for detecting that whether more than one person is trying to enter the store. The visitor scans a QR code in order to authenticate himself or herself. The customers pay for their purchase through the app and shopping is performed as usual. The company observed an increase in revenue between 11:00 PM and 12:00 midnight. A significant rise was observed for high-margin commodities such as frozen pizzas.

Hence, with the evolving customer needs, retail automation is gaining popularity that has helped in saving a lot of customer’s time and money. This is further attributed to the increasing demand for automation solutions with increasing urbanization and the adoption of modern living conditions. With the adoption of a modern lifestyle consumers demand convenient purchasing solutions that match their busy schedule. The growing construction of modern retail stores along with renovation of old retail outlets, the market is further projected to thrive. The trend is specifically being observed in the developing economies of the world.

In China, with a booming retail industry, online-to-offline strategy is being adopted by most of the retailers. It has been observed that many traditional retailers are actively engaged in pursuing digital expansion in order to promote a seamless incorporation of all channels that include physical, online, mobile, and others. The use of smart technologies is gaining momentum where to facilitate online-to-offline integration is significantly contributing to enhance the customer experience. This is further supported by the emergence of multiple technology-driven business models where digitization has led to the deployment of stores like AI-driven pop-up stores and unmanned stores. The growing deployment of pop-up stores in the country have led to reduction in set-up costs in comparison to permanent stores that rely on long-term leases.

Retail Automation Solutions

Xerox Corporation, workflow automation solutions for retail, Xerox® is capable of replacing manual error-prone tasks that are repetitive too. The automated retail workflows when in combination with data analysis and integrated with core systems is capable of reducing cycle times and delivering superior service. The solution provides a competitive edge in the current omnichannel era by operating at the convergence of digital and physical channels.

Probiz Technologies Pvt Ltd. offers the best hardware and software solutions for the retail industry. The solutions range from point of sale to handling complicated retail structures.

Understanding the Potential of Inductor Market

An inductor stores energy in the magnetic field when electric current flows through it and is often called reactor, chokes, or coil. Increasing demand for consumer electronics such as smartphones, tablets, laptops, and personal computing devices among others is expected to be one of the major factors driving the demand for inductors around the globe.

inductor market

 

Expanding Automotive Industry

The automotive industry has witnessed a drastic evolution in recent years with many important advancements in technology. The old-fashioned four-wheeled cars, which were earlier equipped with basic features, have transformed into connected cars with advance wireless connectivity such as Bluetooth, ZigBee, and Ultra-Wide Band and there are several applications that are pushing for the adoption of newly advance electronic systems in automotive systems both within the vehicle and between the vehicle and its surroundings.

The combination of WiFi and Bluetooth solution powers the infotainment and telematics systems in today’s connected cars that allow the drivers and the passengers to easily sync and stream content from mobile devices to the car’s infotainment system while enabling high-speed connectivity beyond the vehicle. Rising demand for connected cars, hybrid autonomous cars, and electric vehicles are fuelling the use of advanced wireless technologies in vehicles. Increasing surge for autonomous driving, artificial intelligence interfaces, telematics, and vehicle-to-vehicle (V2V) connectivity are driving the growth of inductors in the automotive sector. For instance, recently, Ford has launched its fusion hybrid autonomous vehicle at Consumer Electronics Show (CES) 2017 that uses the current Ford autonomous vehicle platform with advanced computing capabilities.

It and Telecommunication Is Shaping the Future of Inductors

With the telecom sector facing challenges to increase their revenues, the industry is actively automating their processes and is incorporating advanced technologies such as Artificial Intelligence (AI), Machine learning, and the Internet of Things (IoT). Over the past few years’ artificial intelligence, business intelligence, and big data have become the standard features in the enterprise which is increasing the need for enterprise hardware to be more efficient and durable. With powerful computing, it becomes easier to deliver the benefits of AI, IoT to the industry. Industrial pc is playing a crucial role in the services-based industries such as IT and Telecom as it provides powerful computing, low power functionality, performance efficiency, longer product life cycle, customizable features, durability, and product reliability. As telecom providers are moving from providing simple basic connectivity to becoming a provider of digital services, they are investing in AI to gain the competitive edge and start-ups that are coming up with digital innovation. In April 2017, Vodafone launched its AI Chabot Tobi to enhance its customer service and relationships. Thus, the inductor market is expected to grow at a steady pace owing to the increasing incorporation of Artificial Intelligence in industrial applications.

China Is One of the Leading Players in the Global Inductor Market

China is the hub of electronic equipment production as more than half of the global production takes place in the country. It is primarily because of the conducive business environment which attracts foreign firms to open there manufacturing hub in the country. In fact, China is sufficiently dependent on the global economic environment in order to sustain its growth as it generates a significant proportion of the GDP through exports. The export of machinery and electronic production from China to the rest of the world has increased from US$698,387,520.16 thousand in 2010 to US$895,639,747.87 thousand in 2016 (source: World Integrated Trade Solutions, World Bank). China is a hub of smartphone manufacturing along with the other smart consumer electronic products, which is creating a demand for inductors in the country. In fact, the growing number of sensors and functions per electronic product is driving the demand for higher capacitance per electronic item which is driving whole semiconductor industry. For instance, the MLCC capacitance demand is estimated approximately double from its current requirement of roughly 2,000µF in a high-end smartphone by 2020 while it expected to grow modestly for a middle-class and low-end smartphone. Looking at the opportunity for generating higher revenues, many manufacturers are expanding their capacitor manufacturing in the country. In September 2018, Murata Manufacturing Co. Ltd announced its plans of expanding the production of multi-layer ceramic capacitors in China. Similarly, Samsung Electro-Mechanics announced its plans to invest US$443 million to increase the production capacity of MLCC in its Tianjin plant.

The Indian Subcontinent Is Driving the Growth of the Market

India has been aiming to encourage local production of different electronic items, with the government making key policy changes in order to make India a more attractive destination for foreign investment. It is indicated by the fact India has jumped and reached the top 100 in the ease of doing business ranking given by the World Bank, with the country now aiming to breach within the top 50 brackets soon. Simultaneously, the growing employment rate and the availability of quality jobs are also boosting the growth of disposable income, which is increasing the demand for different consumer electronic products.

India Transmission Lines and Substations

inductor market

Source: Ministry of Power, Government of India

As such, the major global companies are establishing production facilities in order to target the local market while simultaneously meeting global demand. For instance, in July 2018, Samsung Electronics opened the world's largest mobile manufacturing facility that can manufacture 120 million units a year. Moreover, India is now the second-largest mobile manufacturer in the world, with the mobile production of mobile phones increasing from 3 million units in 2014 to 11 million units in 2017 (source: Indian Cellular Association). The growing production of different consumer electronic products is driving the demand for inductors in the country. Moreover, India is also investing heavily to generate and distribute electricity to a larger proportion of the population. For instance, the installed transmission line in the country has increased from 274,588 ckm in March 2013 to 399,142 ckm in August 2018 showing a growth of more than 45% in just five years (source: Ministry of Power, Government of India).

Dairy Alternative Market Trend – Fostering Plant-Based Revolution

The airy alternative markets are estimated to witness a robust growth primarily due to the unrestrained popularity of plant-based food which in turn stems from the rising adoption of vegan and vegetarian diets that has emerged as a ubiquitous matter. The rationale of this trend is consumers' interest in health and the considerations of animal welfares and as well as the negative spillover effect that results from dairy farming. Additional factors like lactose intolerance have steered consumers away from dairy-based protein and adopt dairy alternative products. 

dairy alternative market

Moreover, irrespective of the product category, food and beverage products have always been associated with four mains aspects which are value, taste, identity, and convenience. The growing pool of millennial consumers has added two new attributes which are namely ethical values and benefits. Therefore, the consumption behavior is expected to drive the dairy alternative market growth. 

Final Consumption Expenditure of Households – Non-Alcoholic Beverage, Australia

dairy alternative market

Source: EUROSTAT

In Millions of Euro, at current prices

The APAC region is expected to contribute to a sturdy contribution to the forecasted growth of  dairy alternative market, primarily due to the increasing population, the growing availability of disposable income, expansive penetration of eCommerce due to availability higher internet bandwidth. With respect to Australia, the important purchasing considerations which influence the consumption behavior I an environment based on the environment, health, wellness, among others. The country has one of the highest levels of per capita income GDP. Before the advent of COVID-19, the Australian economy registered economic growth consecutively for the past 29 years. The Australian consumer foodservice industry is valued at A$58 billion (US$44 billion), as per USD. The consumers in Australia are also open to new experiences and are open to product innovation, a factor that is in part expected to drive the growth of the market pertaining to dairy alternatives in the next few years.

Underscored by positive nutrition there also has been a marked shift from food avoidance to include healthy alternatives like that of dairy alternative. On the other hand, with respect to India, the advent of COVID-19 and the resultant nationwide lockdown has substantially altered consumer behavior leading to preferences. Moreover, due to growing at-home consumption consumers in India have accommodated the convenience and price value frozen, ready-to-eat, packaged, and processed foods, within their purchase considerations which are expected to drive the growth of this market among others. Also facilitated by social distancing norms is the increased reliance on eCommerce.

Besides the realization of the need for investing in a variety of strategic moves to consolidate their respective market share in the dairy alternative market by various food and beverage establishment is expected to augment the growth of dairy alternative market, catering to both B2B and B2C demands. Moreover, the emergence of small disrupters essentially food-tech startups is incentivizing a higher degree of investment in product launches, mergers as well as acquisitions, which is not only enabling them to safeguard their market share but also allowing them with an opportunity to expand their presence both nationally and internationally.

September 2018 – Acquisition

The Netherlands based multinational food company with a focus on organic foods had reportedly completed the acquisition of Abbot Kinney’s, which was reportedly a fast-growing brand and market leader in organic almond and coconut yogurts and ice-creams. According to the latter, this acquisition by the former would facilitate in the materialization of Abbot Kinney’smission to make plant-based dairy alternatives mainstream.

September 2018 – Product Launch

GreenSpace Brands Inc. (TSXV: JTR) had announced the launch of Riot Eats™?, which is its new plant-based dairy brand. The brand was reported to enter the market with several new products across various categories that comprise plant-based butter, cheeses, and spreads.

March 2019 – Product Launch

So Delicious® Dairy Free, an organization that specializes in plant-based foods, has reportedly launched a new range of oat-based chilled desserts, which according to the organization was a market first. Then relatively new products are devoid of GMO as well as gluten and are essentially vegan. During the announcement, the range of products was made commercially available in three flavors Caramel Apple Crumble, Oatmeal Cookie, and Peanut Butter & Raspberry.

October 2019 – Product Launch

With the rationale to reinvent the saturated RTD (ready to drink) industry a relatively new dairy alternative brand, OATH had reportedly announced its launch with OATH Organic Oat-Milk with Plant Protein which has been made commercially available in four flavors, namely Double Chocolate, Golden Turmeric, Indian Rose and Matcha Chai. Leveraging ingredients like protein-rich oats, nuts, and seed OATH facilitates the enhancement of metabolism and restoration of energy.

November 2019 – Ingredient Launch

A range of next-generation chickpea isolates have been reportedly launched by a food-tech startup called ChickP Ltd had that are particularly designed for plant-based dairy alternative products. This reportedly path-breaking plant protein has been developed by scientists at the Hebrew University of Jerusalem by employing patent-pending technology to extract up to 90% pure protein out of the chickpea seed. This ingredient is expected to provide alternative dairy producers with means to overcome challenges in processing as well as foster consumer acceptance, thereby responding to the demand for highly nutritious and tasty products.

January 2020 – Partnership

In partnership with Oatly the coffee chain conglomerate, Starbucks had reportedly announced a new range of plant-based kinds of milk which are essentially Oatly’s vegan oat milk to its permanent menu at around 1,300 locations across Canada and the US.

March 2020 – Funding Raising

A food tech startup called Prolupin which is known for its portfolio of dairy-alternative products with proteins derived from lupin beans as one of its ingredients has reportedly announced the conclusion of financing round which was reportedly led by Capricorn Partners and Novax. It accounted for double-digit million euro. This round will reportedly enable the company to respond to the demand and work toward the international expansion of their vegan brand called “Made with LUVE.”.

In addition to the current market conditions, the above snapshot of key market developments pertaining to dairy alternative underscores the upward trajectory that has been forecasted for this market.

Food-Grade Gases Market Growth – Facilitating the Growing Demand for Haigh Value Food

Gases that are employed by the food and beverage industry at every step of the supply chain that commences from the field, right to the consumption. Food grade gases are extremely important for preventing food losses along with the implementation of coordinated strategies. Further due to increasing purchasing capacity, rapid urbanization coupled with the hectic schedule has resulted in the increasing demand for processed food in developing economies, at the same time there has been a steep rise in natural, fresh, and minimally processed foods with fewer artificial additives, including preservatives. The preference for food with high nutritional quality is estimated to be a long-term trend.  Food grade gases find a variety of applications that are inclusive of but not limited to cooling and deep freezing, inerting and carbonating beverages, hydrogenation of oils, as well as modified atmosphere packaging (MAP), among others.

food grade gases market

The food-grade gas market growth is expected to be augmented by various government, supra-national regulations, and policies that mandate the adherence to certain principles and guidelines during the application of gases for food applications. With regards to regulatory policies in the EU, the following is important to note: The Regulation (EC) No 178/2002 of the European Parliament and of the Council of 28 January 2002 establishing the requirements of the general principles of food law laying down the foundation for European Food Safety Authority and prescribing the procedures pertaining to food safety. Also, the regulations on foodstuff hygiene which is Regulation (EC) No 852/2004 of the European Parliament and of the Council of 29 April 2004 as well as the Regulation (EC) No 1935/2004 on materials and articles intended to come into contact with food of the European Parliament of the Council of 27 October 2004. Another is Directive EC/2008/84 that covers specific purity criteria of food additives. There are also professional associations from different sectors that impact the compliance of food-grade gas through the means of recommendations.

For example, the International Society of Beverage Technologists (ISBT) publishes guidelines covering different processes of beverage production. Included within the guidelines are carbon dioxide and nitrogen which are subjected to dedicated documents that comprise procedure for gas analytical impurity measurement protocols, delivery, specification, supply chain, and testing. Further, national and regional industrial associations around the world, such as AIGA (Singapore), ANZIGA (Australia/New Zealand), CGA (United States), JIMGA (Japan), and SACGA (South Africa) that cooperate among each other and with European Industrial Gases Association (EIGA) of which the former are associated members. The member companies closely cooperate in matters of safety as well as technical matters that comprise production, transport, storage, and application to ensure highest safety standards are met and environmental considerations are taken into account during the handling of gases.

The APAC food and beverage industry is witnessing the growth of consumption at a rapid pace primarily due to increasing disposable income, rapid urbanization, increased internet penetration, growing digitalization, and population growth. According to the United Nations (UN) as of 2019 with a population numbering to 4.6 billion, Asia is expected to reach 4.9 billion by 2030.  This is expected to create a profusion of opportunities for the food and beverage companies enabling them to cater to a higher degree of demand. Besides the growing population, the rising per capita income has facilitated a shift from traditional starch-based meals to more varied, higher value, further-processed, and protein-based foods that reportedly include dairy, fruits, meat, poultry, seafood, vegetables, and wheat-based products. Thereby creating new avenues for food-grade gas applications which will aid in making convenient and ready-to-use products, among others through the means of chilling, crust freezing, freezing, hardening, temperature control, and modified atmosphere packaging.

Furthermore, the aspect of the diverse taste and preference to which the multinational food and beverage corporations need to adapt and create a localized brand is also expected to catapult the food-grade gas markets to stratospheric heights. Moreover Besides, as per the State of Global Islamic Economy Report 2019/2020, as of 2018, there were 1.8 billion Muslim consumers around the world, and in the same year, they had spent an estimated US$2.2 trillion on food, among others. Additionally, the launch of a Halal Lifestyle District that is to the tune of US$18 million has been Indonesia’s aspiration. Moreover, the Halal Economy Masterplan 2019 – 2024 was also carried out by the nation via its National Shariah Finance Activity, recently established to foster an efficient ecosystem, of companies within the ambit of halal food and products. Considering the substantial short-term disruption brought about by COVID-19 pandemic, the Malaysian hotel, restaurant, and institutional (HRI) industry is one of the fastest-growing sectors in the country and is primarily propelled by heathy tourism and growing consumer spending.

As per USDA, the nation’s retail sector is developing at a fast pace and the popularity of high-end/premium grocery stores is growing rapidly. In 2019 the total sales were to the tune of $26 billion. Moreover, in 2019 the food processing industry of the country accounted for approx. 10% of the nation’s total manufacturing output and is growing at a pace of 3% per year. Moreover, the food processing industry has been identified as a critical sector by the Government of Malaysia for future economic growth. On the other hand, considering China, while there is a preference for fresh food, the Chinese diet is evolving and is more oriented towards convenient snacking. Further due to increased disposable income which is being increasingly spent on processed ready to eat food products. Further, the growing population has also necessitated the increased import of food-related products to meet the demand. In 2018, the import value of consumer-oriented food products reached approximately $45 billion, up 18 % from 2017. Urbanization that is leading to the rise of 2nd and 3rd tier cities is creating more opportunities for imported food and beverages where there is relatively less market saturation. The prevalence of eCommerce and its reinforcement due to CoVID 19 lockdown measures is expected to indirectly impact the food-grade gases market during the next few years facilitating a robust growth of the same.