From a departmental store to a supermarket or a convenience store, consumers find shelves stacked with multiple brands of canned food irrespective of the kind of store they go in. The canned food market has experienced significant growth in recent years and is expected to grow further in the coming years. Canning is a preservation method for food and storing it in airtight containers. It is a three-step process of processing the food, sealing the food into cans, and then heating the cans to prevent spoilage. The canned food is easy and handy snacking and meal option for the consumers. The various types of food available in canned packaging in the market include fruits and vegetables, seafood and meat, sweets, soups, and sauces, ready-to-cook meals, spices, drinks, and more. 

These are appropriate and convenient to use, consume, and store. There is a growing acceptance of canned food among consumers across the globe due to the wide availability and long shelf lives. The canned food is also a healthy choice because of its ability to retain nutrients, color, and flavor. Most minerals, proteins, carbs, fat, and vitamins A, D, E, K are retained.

Key Drivers of the Market

The market is expected to grow due to the rising urban population and their increasing disposable incomes. Consumers, nowadays, are willing to pay a premium price for these high-quality, healthy canned products. The inclining canned food market growth is also owed to the rise in the working population especially working women that now have a busy lifestyle and are looking out for a convenient solution in form of these ready-to-go and ready-to-eat products.

 There is greater awareness among the consumers regarding the disadvantages of conventional plastic packaging, the harm done to both nature and human bodies. So, there is a watch for a sustainable solution out of this bizarre problem. Furthermore, there is an increasing acceptance and adoption of recycling and reusing which is further fuelling the demand for these canned products packaged in aluminum and tin cans.

Also, consumers are now becoming increasingly health-conscious and would choose these canned products that can retain essential nutrients over other packaged food. The young, millennial population is readily accepting these canned products due to the increasing western influence and the emergence of new products by well-known brands.

In recent years, e-commerce platforms have bloomed tremendously making these canned food products just a click away from the consumers. This is also one of the reasons for the increasing demand seen by these products.

There has also been a rise in the different kinds of retail stores and their presence, even in remote areas, making canned food widely available, further increasing the market size for these products.

Hurdles Along the Way

The cans made of aluminum and tin, though recyclable, are non-biodegradable, further harming the environment. Due to this reason, there is a reluctance on the part of both the consumers and the governments. Regulations and bans are imposed in certain regions due to environmental concerns hampering the growth of the market. Additionally, the manufacturers of these products are extensively dependent on the raw material suppliers for their packaging. 

That said, a lot of companies in the canned food market are investing heavily in the Research and Development for alternate substitute packaging causing less, preferably, no harm to the environment. This opens gates of opportunity for new entrants to enter the otherwise crowded market with innovative packaging. The canned packaging has a huge room for innovation. Recently, in January 2021, Grupo Calvo, a Spanish company, announced to have found a revolutionary way of canning Tuna through a Real Peel technology through which the company can balance oil usage. And, it easily facilitates the disposal of the product entirely through a flexible aluminum lid.

Furthermore, there is a rising awareness about the advantages of fresh food among consumers across the globe. This proves to be a challenge for the growth of the canned food market due to the use of preservatives and the high amounts of salts and sugar present in the products. Though, companies have realized this and so are venturing into different, innovative categories like the canning of organic products.

Impact of Pandemic

The Pandemic has grappled the global markets with its shackles. The supply chains both local and international have been completely disrupted due to the lockdown imposed by several countries to curb the spread of the virus. This has had a multifold impact on the canned food manufacturing companies. On one side, the acquisition of raw materials has become difficult and on the other side, the distribution channels are disorganized. Furthermore, the disposable income of people has drastically decreased forcing them to restrict themselves to the essential commodities resulting in falling demand for the canned food.

However, on the brighter side, the E-commerce platforms have further flourished and have received increased usage leading to wider availability and presence for the products.

Geographical Landscape

Canned food market size is expected to increase in both the developed and emerging economies. However, the market is dominated essentially by two regions of North America and Europe. In North America, the markets in countries like us, Canada, and Mexico have the presence and headquarters of global giants who have been researching and investigating extensively about the canned food market, facilitating the local producers. The acceptance of canned food is also more in the region owing to the soaring working population, their busy schedules leading to the increasing demand for these convenience goods. The growth in the region is also owed to the presence of good infrastructure in the region, facilitating supply chains.

The market is witnessing an inclining growth trend in the region of Europe because of the high consumer base for canned food in the countries Italy, Spain, Germany, France, and the UK. Not just individual consumption, but the growth of the market in the region can also be attributed to the restaurants and food joints using canned food in their preparations.

There is an expected rise in the demand for canned food in the Asia-Pacific market in countries like China, Japan, India, and Korea essentially due to the influence of Western culture and the increasing working population. The huge population, rapid urbanization and rising internet exposure, and an increasing number of retail stores have created a high consumer demand in the region. That said, the region facilitates more through the production and exports.

The Middle East and African region are set to experience low but steady growth due to the changing food habits and dietary preferences. The usage of canned vegetables and meat in the Middle Eastern Cuisines will further drive the growth of the canned food market in the region.

The Security Printing Market is estimated to reach a market size of US$45.027 billion by the end of 2026. The market was worth US$31.319 billion in 2019 and is anticipated to grow at CAGR 5.32%.

Security printing is the branch of the printing industry which deals with the printing of banknotes, cheques, passport, stock certificates postage stamps and identity cards among others. Key end-market applications include Banking and financial service, tickets, Personal ID, and brand protection services. The primary intent behind using security printing measures is to prevent forgery, tampering or counterfeiting of any official documents or government-issued notes.

Accordingly, growing cases of tampering, forgery and counterfeiting crimes are the major driving factors for growth in the security printing market. For instance, in February 2021 RBI found 32,000 worth of fake currency in 100 denominations from several nationalised banks. To tackle and identify such currency counterfeit problems, Interpol has introduced several web-based tools such as I-24/7. Moreover, Interpol aims at educating law enforcement communities, financial institutions and other related parties with knowledge, skills and most beneficial practices to identify counterfeited currency notes.

More recently, these newer methods have become widely feasible to commercial providers allowing them to utilise these techniques to protect their high-value documents. The application of these techniques has not been confined to the protection of high-value documents; businesses are now using these techniques for protecting their lesser value documents such as transcripts, coupons by incorporating security printing features to ensure utmost protection to their documents.

Notable players in the market are 3M, ABCorp, Gemalto, Giesecke + Devrient, Thomas Greg & Sons Ltd, and De La Rue Supply Chain Bolton

Brand Protection and Tickets to Dominate the Market

The security printing market can be segmented as Brand protection and tickets. Brand protection involves protecting intellectual property such as patents, copyrights, trademarks and their associated brands against counterfeiters and infringers’. Main aim of brand protection is to safeguard the company's image, overall value and prevent brand abuse. Whereas, Tickets are vouchers that indicate an individual’s admission to an event or establishment. The market for brand protection and tickets is estimated to dominate over the forecasted period. The fundamental reason for increasing adaptation security printing solution in the brand protection and tickets segment is due to the surging availability of pirated products on both offline and online channels along with a drastic effect on company operations and brand name.

Increasing Adaption of Security Printing of Currency Is Estimated to Significantly Contribute to the Growth of the Security Printing Market

The key factor driving demand growth in the market is rising technological advancement along with the adoption of currency printing for better governance and regulation. Printing of fake currency severely affects the economy as it increases the quantum of currency which furthers devalues the currency on an international level against a foreign currency, thus affecting the economy. Furthermore, the circulation of fake currency in the economy increases inflation, thus affecting the prices of daily commodities in the market. For instance, the Indian government demonetized its currency in 2016 intending to reduce terror funding, circulation of black money and fake currencies in the economy. The government banned the circulation of 500 and 1000rupee notes intending to prevent counterfeiting of notes for illegal purposes. According to NRCB data,  Post demonetization, Delhi had the highest collection of fake notes valued around Rs.3.01 crore. However, its quantum was far less than that of the Rs 1000 note. Hence governments around the world are adopting various measures to curb the use of fake currencies in the economy.

Moreover, companies are heavily investing in the research and development of efficient technological solutions for the prime security of financial documents and currency. Additionally, governments are adopting these innovative technological solutions to reduce economic losses arising out of counterfeiting and tampering. The use of hybrid printing papers and technology in the printing of currency is anticipated to reduce money counterfeit, money laundering and corruption, hence driving the market. For instance, the European central bank has introduced new Euro 100 ad Euro 200 notes that are denominated with bold design and satellite hologram and have bold shades to monitor circulation in the region.

Moreover in India, NRCB has developed a national level database and instilled a web-enabled software for online recording and reporting of fake Indian currencies. Additionally, RBI uses a technique of picture preparation that depends upon the extraction of highlights on Indian Banknotes. Predominantly used Security highlights by RBI are watermarks, Idle strings, Security strings and optically factor ink. Similarly in the US, a three-step digital technological process is used in counterfeiting.

The Asia Pacific Region Is Predicted to Hold a Notable Share of the Market

The Security printing market is fragmented in nature; companies have various departments of security printing for products such as currencies, passports, visas to prevent counterfeiting of products. Key market players around the world have adopted various business strategies to sustain, grow and develop in the Security Printing market. Various business strategies that have been employed by organizations around the world are partnerships, acquisitions, mergers and other related commercial agreements which have assisted conglomerates to develop and provide services to a large group of people worldwide. Through such collaborative agreements between market players and governments and other allied government agencies in the North American region have resulted in significant development of the market on the whole.

The North American region holds a significant market share and is projected to grow at a decent CAGR over the forecasted period. The major driving factor is the rising scrutiny and investment in combating counterfeiting currency and documentation, along with stringent government rules and regulations. For instance, according to the Bureau of Engraving and Printing, manufacturing of United States currency or altering genuine currency is a violation of title 18, section 471 of the United States code. However, the Asia Pacific region is estimated to hold a remarkable share and is projected to grow at an exponential rate owing to rapid technological advancements in countries like Nepal, China and India. Moreover, rising concerns over corruption, terror funding and fake currency are estimated to augment the demand in the market. Besides, advancement in technology and the growing use of digital methods for banking and financial services will further boost the market in the region.

Teleradiology is a branch of telemedicine in which transmission of radiological patient images using telecommunication systems is done from one location to another, over a distance to radiologists and physicians for consultation and diagnosis purposes. There exists a disequilibrium between the demand and accessibility of radiology diagnostic services. The United States is predicted to encounter an insufficiency of nearly 122,000 physicians by 2032 according to the Association of American Medical Colleges. This imbalance is leading to the increased adoption of teleradiology services. It provides great utility for institutions wanting to limit the costs of a radiology specialist. Additionally, it is beneficial for institutions with a low number of patients needing such radiology consultancies. The technological advancement in this field of telemedicine has bridged the distance and reachability gap for rural areas where there are no radiology specialists.   

Surging Demand for Radiology Consultancy Will Drive the Market Growth

There is a high demand for radiology consultancies but a dearth of such specialists. According to the World Health Organization, annually worldwide, more than 3600 million diagnostic radiology examinations are performed. This is one of the key factors for the growth of the teleradiology market in the coming years. Coupled with that is the increase in chronic diseases like cardiovascular diseases, cancers, chronic respiratory diseases, and diabetes hinting at an unfulfilled demand for skilled radiologists. The International Agency for Research on Cancer predicts that there were nearly 19.3 million new cancer cases in 2020, worldwide. Furthermore, there has been an increase in government expenditure on healthcare information services pointing towards the growth potential of the market.

There has been a significant increment in the number of imaging procedures conducted. This further hints at the expanding market size of the teleradiology market. There has also been an escalation in the adoption of cloud-based solutions prompting the growth of the market.

The growth of the teleradiology market is also owed to people becoming conscious of their health and needing second opinions on their diagnosis. Moreover, the situations of emergencies can be well taken care of through the use of this technology.

Digital diagnosis is gaining acceptance because of being cost-effective as compared to paying for a physical meeting with the radiologist. It is also quick and effective and has less turnaround time. So, there has been escalating focus of market leaders towards bringing innovation to digital diagnosis. This will lead to further growth in the market.

Data Security Concerns Will Hinder the Market Growth

Teleradiology requires the minimum infrastructure of broadband connections. However, there is low availability of such connections, especially in developing countries. Consequently, though being cost-effective, the poor people and a large population residing in rural areas are unable to take advantage offered by the technique.

Additionally, even for consulting through telecommunication, there is a shortage of skilled radiologists.

One of the major hindrances to the growth of the market is data security concerns. People are not confident enough regarding the maintenance of privacy of their data and, so, are reluctant to adopt the digital method of diagnosis. The teleradiology services and certain professionals are also unaware of the regulations imposed against the breach of privacy protocols.

Impact of COVID-19

The COVID – 19 Pandemic has had a positive impact on the teleradiology market. The demand for such services as chest X-rays and CT scans skyrocketed. People want expert’s opinions regarding the uncertainty of a better approach at handling the deadly situation. The number of consultancies required against the number of specialists was huge, the professionals are under immense pressure, so the physicals appointments were out of the question. The regulations of social distancing imposed further pushed the people towards the adoption of digital diagnosis.

The governments across the nations increased their healthcare expenditures and promoted eHealth to curtail the spread of the virus.

Huge investments are being made for Research and Development in teleradiology to combat the challenges of the market. Government incentives and a surge in demand prompted the key players to look for innovation in the technique to boost the market growth.

In February 2021, Telerad Tech Pvt. Ltd, an AI-enabled teleradiology software global provider announced a business expansion. The company is entering four more countries – Saudi Arabia, South Africa, Israel, and Egypt.

Regional Analysis

North America is expected to account for the largest share in the teleradiology market owing to favoring government initiatives, technological advancement, and the rising number of healthcare facilities. Moreover, a high prevalence rate of chronic diseases leading to greater adoption of digital diagnosis.

The Asia-pacific region is predicted to be the fastest-growing region due to the increasing infrastructure in the countries. A significant share of the population in these developing countries is below the poverty line who would choose the cost-effective diagnosis method over the on-site expensive one.

The Quantum Dots market is expected to grow at a compound annual growth rate of 18.44% over the analysed period to reach a market size of US$10.843 billion in 2026 from US$3.316 billion in 2019.

Quantum dots are defined as artificial nanoparticles that have a semi-conductor property to help in the transportation of the electrons. These small semiconductors have the ability to emit out the light of myriad colours after UV light is incident on them. These particles have unique optical and electronic properties which are different from the large particles. Their diameters range between 2 to 10 nanometres influencing the wavelength of the light emission. The shape, composition and structure affect the light emission capabilities. Optoelectronic characteristics of the quantum dots alter as the function of the shape and size. These particles find the spectrum of applications in the information storage, single-electron transistors, agriculture, imaging, electronics, medicines, catalysis, UAVs or drones and sensing devices. Based on electronic properties they can be an active material in the single-electron transistors.

The quantum dots act like naturally occurring molecules or atoms and its properties can be modified by the removal or addition of the electrons. Due to its unique illumination properties when exposed to a source of energy such as UV light, it can be used in many optoelectronic devices such as TVs, LEDs, Photoconductors among other applications and its demand and its uses are still witnessing rapid growth.

Market Players included in the report of the quantum dots market are Nanosys Inc., Quantum Materials Corporation, Quantum Laser, NN-Labs Inc.,  Crystalplex Corporation, Nanoco Group Plc, Ocean NanoTech, NanoPhotonica.

Market Size

Based on geography, the quantum dots market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions. The North American region is projected to hold dominating share of the market. This can be attributable to the region’s state-of-art infrastructure, fast adoption of 4K LED television and early adoption of the advanced technology.

Meanwhile, Asia Pacific region is expected to grow at the fastest rate during the forecasted period primarily due to the growing technological advancement, inclination of the consumer towards the adoption of the technologically advanced products, innovation and the increase in the awareness along with the involvement of various organization and universities investing heavily in the research and development of technology especially in the display and healthcare.

The quantum dots market by product type is segmented as Quantum Dots Solar Cells, Quantum Dots Display, Quantum Dots Medical Device, Quantum Dots Laser and Others.

The quantum dots market by a material is segmented as Cadmium-based Quantum Dots, Silicon, Graphene and Lead Sulfide,

The quantum dots market by end-user industry is segmented as Telecommunication, Healthcare, Military and Defence, Consumer Electronics and Others.

The consumer electronics segment is expected to hold to grow at a significant rate due to the surge in the demand for the technologically advanced consumer electronic good. The advertisement is playing a major role in boosting the market growth of quantum dots. Further, the quantum dots technology enhancing their product by improving display performance in terms of colour accuracy and gamut and reduced power consumption, further the unique characteristics such as pure colour, wavelength tenability and high brightness, thus making it a popular demand among the consumer electronics segment.

Market Growth

Quantum dots are used in LCD device such as TV, smartphones and tablets. It produces narrow colour-band frequency emission and its smaller size enable them to manage the brightness of the display while ensuring the less consumption of the power than LCD and OLED displays. The key players of the television manufacturing such as Samsung and Sony are developing 8K and 4K LCD, LED TVs that is quantum dot-based and is lesser in cost than OLED technology. The high demand of the quantum dots in the display are driving the market growth of the quantum dots. Quantum dots produce higher peak brightness for many of the optimized devices and can drive up the colour brightness and the gamut of the display. This is encouraging the other players of the market including TV and LED display manufacturers to adopt the quantum dots as it provides an efficient way of producing the next generation of high-definition and brilliant TV screen display.

Quantum Dots are emerging slowly in the optoelectronics and is expected to increase along with its product development.

Technology

Quantum dots are tiny semiconductor nanomaterials that are made from different manufacturing and synthesis method. They have wide applications in electronics, imaging, sensing devices, information storage, medicine and catalysis. Its capability of churning the large quantity of the nanocrystals in the batched based on the exact parameters is further boosting the market demand for the quantum dots technology. Quantum dots is majorly used in two major industries, display and lightning as it is a most popular alternative to the conventional display technologies. The quantum dots technology is expected to be commercialized soon in the lightning segment as the providers of the lightning solution are widely adopting quantum dots for the manufacturing of the lightning devices.  For instance, OSRAM have started adopting the quantum dots in the manufacturing of the LED. Thus, the surge in the adopting of the quantum dots in the LED lightning is offering growth opportunities to the quantum dots market.

However, most of the raw materials of the quantum dots possess the best characteristics which are suitable for the quantum dots but have limited availability. While the rest of the materials are not environmentally friendly and are highly toxic for instance, cadmium. Currently, cadmium is being used as the most effective raw material during the manufacturing of quantum dots as they possess high brightness and intensity, thus proving to be useful in the optoelectronics application. Cadmium should be used optimally.  For instance, Quantum Materials Corp., leading US-based cadmium-free quantum dot and nanomaterials manufacture, produced 100% cadmium free 55-inch QDX quantum dot display technology that can achieve a superior level of performance of industry-leading 95% Rec by utilization of the company’s proprietary QD-enhanced film. While eliminating the cost barrier film which was previously required for the QD-based display design.