Global Eyewear Market Overview 2018, Demand by Regions, Share, Size, Growth and Forecast to 2023

The global eyewear market has been witnessing a positive growth over the years. This can be attributed to various factors which include rising prevalence rate of chronic diseases due to changing dietary patterns and excessive exposure to electronic devices.

Eyewear are the accessories or items that are worn over the eyes for the purpose of improving or enhancing visual activity. These are also used for providing protection against the damage caused by excessive light, pollution, UV rays and dust among others. Frames for eyewear products can be manufactured by using metal or plastic, depending upon the specific requirements of these frames. These products are available in different shapes, designs and sizes. A new research report by IMARC Group, titled “Eyewear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market was around US$ 116 Billion in 2017. The report further anticipates the market to reach nearly US$ 138 Billion by 2023, at a projected CAGR of 3% over the forecast period.

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Global Eyewear Market Drivers/Constraints:

  • There has been a substantial rise in the prevalence rate of chronic diseases owing to the changing dietary habits and excessive exposure to electronic devices. This is one of the major factors which is propelling the growth of the global eyewear market.
  • Several organisations as well as governments across various nations have been conducting programmes in order to spread awareness about eyesight-related issues along with the importance of eyewear. This, in turn, highly contributes towards the augmented demand for eyewear.
  • Some of the other factors which are fostering the market growth include growing geriatric population, increasing disposable incomes, improving living standards and changing fashion trends.
  • However, some of the challenges such as price differentiation between the unbranded and branded frames along with the availability of illegal novelty contact lenses act as obstacles for the growth of the market.

eyewear market segmentation

Product Insights:

On the basis of type, there are a large number of eyewear available in the market including spectacles, sunglasses and contact lenses. Currently, spectacles represent the largest product type due to the availability of aesthetically appealing frames in the market.

Gender Insights:

The market has been further segregated into gender types which include men, women and unisex. Among these, men exhibit a clear dominance over the market, holding the majority of the market share.

Distribution Channel Insights:

Based on distribution channel, optical stores represent the most popular segment of the global eyewear market. It is followed by independent brand stores, online stores and retail stores.

Regional Insights:

On a geographical front, Europe enjoys the leading position in the market on account of a high demand for eyewear in the region. Some of the other major markets include North America, Asia-Pacific, Middle East and Africa, and Latin America.

Competitive Landscape:

The market is fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

  • Luxottica
  • Essilor
  • Johnson & Johnson Vision Care
  • Safilo
  • Alcon

 

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Global Exercise Bike Market Overview 2018, Demand by Regions, Share and Forecast to 2023

The global exercise bike market has witnessed a healthy growth over the past several years. This can be accredited to the rising health issues, growing trend of fitness clubs, product innovations and inflating disposable incomes.

The latest report by IMARC Group, titled “Exercise Bike Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global exercise bike market reached a value of US$ 476 Million in 2017. Exercise bike, also known as exercise bicycle, spinning bike, spin bike, or exercycle, is a stationary device similar to a bicycle and consisting of a saddle, pedals, and some form of handlebars. These bikes are used as an exercise equipment for the purpose of increasing general fitness and training. The recurring cycling motion results in burning fat and exercising the muscles. This low-impact, safe, and effective cardiovascular exercise provided by the exercise bikes has made them highly popular across the globe.

exercise bike market share

Highlights of the global exercise bike market:

  • Increasing health awareness among the consumers remains the key growth inducing factor.
  • Recumbent exercise bikes represent the most popular product type.
  • North America is the leading market, holding the majority of the total share.

The global exercise bike market is driven by the growing number of lifestyle diseases such as obesity, diabetes, hypertension and stress, and the subsequent health consciousness among the consumers. In line with this, rising number of fitness clubs, gyms and health centers have stimulated the demand for exercise bikes globally. Moreover, manufacturers are now working extensively on product innovations, to widen their consumer base. Some of the new technologies include bikes that allow the rider to watch live stream videos on its screen while cycling in the studio, or cycle through different landscapes around the world by virtual reality. Additionally, on account of surging disposable incomes, consumers are now willing to spend more on their fitness and also prefer to own private equipment within the comfort of their homes. Owing to the abovementioned factors, the market is expected to reach a value of US$ 585 Million by 2023, exhibiting a CAGR of 3.5% during 2018-2023.

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The market has been segmented on the basis of product type, including recumbent exercise bikes, upright exercise bikes and others such as indoor bikes, dual action stationary bikes, etc. Amongst these, recumbent exercise bikes represent the most popular product type. Based on applications, the home consumers segment accounts for the largest share, followed by gyms/health clubs. Region-wise, North America represents the leading market, followed by Europe and Asia Pacific. Other regions include Latin America, and Middle East and Africa. On evaluating the competitive landscape of the market, it is found that Brunswick Corporation, Icon Health & Fitness, Inc., Nautilus, Precor and Technogym are the key players operative in the market.

The report by IMARC Group has examined the global exercise bike market on the basis of:

Product Type:

  • Recumbent Exercise Bikes
  • Upright Exercise Bikes
  • Others (Dual Action Stationary Bikes, Indoor Bikes, etc.)

Applications:

  • Home Consumers
  • Gyms/Health Clubs

Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Key Players:

  • Brunswick Corporation
  • Icon Health & Fitness, Inc.
  • Nautilus
  • Precor
  • Technogym

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Global Generic Injectables Market Overview 2018, Demand by Regions, Share, Size and Forecast to 2023

The global generic injectables market has witnessed a healthy growth over the past few years. This can be attributed to the aging population coupled with rapidly increasing cases of chronic diseases and unhealthy lifestyle.

Generic-injectables-market-share

Generic injectables refer to medication which yields the same therapeutic effect as their innovator drugs since they have the similar active ingredients, strength, quality, performance, intended use and dosage. Owing to their low cost, generic injectables have gained popularity in the healthcare sector. Moreover, the number of competitors in the generic injectables market is lower in comparison to oral generics which has resulted in higher profit margins and limited price erosion. A new research report by IMARC Group, titled “Generic Injectables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market was worth US$ 26.2 Billion in 2017. The report further anticipates the market to reach US$ 45 Billion by 2023, at a projected CAGR of 9.5% over the forecast period.

Global Generic Injectables Market Drivers/Constraints:

  • The numerous advantages of generic injectables, including low cost, short approval time and low capital investment compared to brand name injectables are catalysing the generic injectables market across the globe.
  • The governments of various countries are supporting the manufacturing of generic injectables as these drugs help to reduce the healthcare costs. This has given an impetus to the market growth.
  • Some of the other factors fuelling the growth of the market are the growing geriatric population, patent expiry of a number of drugs, rising prevalence of chronic diseases and an increase in drug shortages.
  • The negative perception of the consumers towards generic drugs coupled with stringent regulations laid down by the governments are some of the challenges faced by the global generic injectables market.

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Therapeutic Insights:

On the basis of therapeutic area, oncology accounts for the majority of the global share. The rising concerns over cancer coupled with oncology drugs going off-patent is projected to fuel the growth of this segment. Other major therapeutic areas include anaesthesia, cardiovascular, anti-infectives and parenteral nutrition.

Distribution Channel Insights:

Based on distribution channel, the market has been segmented into hospitals and retail pharmacy stores. Amongst these, hospitals represent the leading segment as generic injectables cannot be administered or traded without medical assistance or permission from a certified practitioner.

Regional Insights:

On a geographical front, the market has been segregated into Asia, North America, Europe, Latin America, and Middle East and Africa. Currently, North America represents the leading market on account of an increase in chronic diseases due to sedentary lifestyle and poor eating habits of the population.

Competitive Landscape:

The market is highly concentrated with the presence of a handful of manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

  • Hospira (Pfizer Inc.)
  • Fresenius Kabi Ag
  • Hikma Pharmaceuticals PLC
  • Sandoz (Novartis)
  • Sagent Pharmaceuticals, Inc. (Nichi-Iko Pharmaceutical Co. Ltd.)
  • Sanofi

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US Generic Injectables Market Research Report 2018-2023

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Global Chewing Gum Market Overview 2018, Demand by Regions, Share, Trends, Analysis and Forecast to 2023

Over the years, the global chewing gum market has experienced a steady growth. Some of the factors that have facilitated the market growth include health benefits, impulse purchasing, attractive packaging, innovative flavours, etc.

chewing-gum-market

Chewing gum is a soft and non-edible substance produced only for the purpose of chewing. The texture of chewing gum is reminiscent of rubber owing to the properties of polymer, plasticizer, and resin components, which gives it a chewy characteristic. In addition to this, they help to eliminate bad odours by providing a refreshing taste and long-lasting flavour. While the ancient gums were produced from the sap of spruce trees, the modern chewing gum is made up of gum base, food colours, flavours, polyol coating among others. A new research report by IMARC Group, titled “Chewing Gum Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market reached a value of more than US$ 21 Billion in 2017. The report further anticipates the market to exceed US$ 25 Billion by 2023, expanding at a CAGR of over 3% during 2018-2023.

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Market Drivers/Constraints:

  • One of the primary factors behind the surging demand for chewing gums is their health benefits which include combating stress and anxiety, improving concentration, and reducing oral bacteria due to inclusion of isomaltulose.
  • Another factor which has augmented the demand for chewing gums is impulse purchasing. This demand is generally supported by the younger generation who resorts to chewing gum after a meal, smoking or during long working days.
  • Moreover, manufacturers are targeting young population by introducing unique flavours and attractive packaging. Some of the new flavours include cherry, banana, lemon, cinnamon, blueberry, grapes and orange.
  • However, there are several factors that hamper the market growth. For instance, sugar-free gums also run a risk of dental erosion owing to acidic flavourings and preservatives that are added.

Product Type Insights:

On the basis of type, the market has been segmented as pallet type, stick/tab type, centre-filled type, cut and wrap type, and ball type. Currently, pallet type dominates the market with the largest share.

Sugar Type Insights:

Based on market breakup by sugar type, sugar free chewing gum represents the largest segment followed by sugared chewing gum. This can be accredited to the oral and dental benefits offered by sugar-free chewing gums.

Distribution Channel Insights:

On the basis of distribution channel, supermarkets and hypermarkets represent the largest segment as they offer convenience to the consumers. They are followed by pharmacies, convenience stores, departmental stores and online.

Regional Insights:

On a geographical front, Asia-Pacific enjoys a leading position in the global chewing gum market. Asia-Pacific is followed by North America, Europe, Middle East and Africa, and Latin America.

Competitive Landscape:

The market is fragmented with the presence of both small and large manufacturers who compete in terms of prices and quality. There is an intense competition in the market which makes it difficult for small players to survive. Some of the leading players operating in the market are:

  • Mondelez
  • Perfetti
  • Wrigley
  • Lotte, Cloetta
  • Hershey

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Global Home Audio Equipment Market Overview 2018, Demand by Regions, Share, Size and Forecast to 2023

The global home audio equipment market is growing at a healthy rate as there is an upsurge in the demand for wireless systems due to urbanisation, technological developments and expansion in the entertainment industry.

home-audio-equipment-market

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Over the years, innovations in technology has consistently helped humans in making lives simpler and convenient. One such technology being home audio equipment which is installed inside the home, aimed to imitate the commercial theatre performance. It imparts a bona fide theatre experience and replicates the realistic scenario by enhancing the audio quality. Some of the components of home audio equipment include shelf stereos, surround sound receiver and a projection system. A new research report by IMARC Group, titled “Home Audio Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market was worth US$ 17 Billion in 2017. The report further anticipates the market to cross US$ 23 Billion by 2023, at a projected CAGR of more than 5% over the forecast period.

Market Drivers/Constraints:

  • The primary factor for the growth of the home audio equipment market is a rise in the streaming of audio content via wireless systems, for instance, Bluetooth which can be connected to a portable device.
  • Further, a shift in the preferences of consumers towards a high-performance home theatre system and expanding need for an improved user experience are positively influencing the market growth.
  • With the development of the internet of things (IoT) technology worldwide, there has been a soaring demand for devices which are compatible with different devices. This has broadened the growth aspects of the global home audio equipment market.
  • Flourishing entertainment industry, increasing disposable incomes, urbanisation and industrialisation rates, technological advancements and product innovations by manufacturers are some of the other factors which are strengthening the demand for home audio equipment.
  • However, high audio frequency coming from home audio equipment may injure the inner ear structures and cause noise-induced hearing loss (NIHL) within the longer run. This acts as a major constraint for the growth of the home audio equipment market.

Product Type Insights:

On the basis of type, the market is segmented as Blu-ray and DVD players, home theatre in-a-box (HTIB) and soundbars. Among these, Blu-ray and DVD players currently exhibit a clear dominance in the market.

Application Insights:

Based on application, the major segments include television and computers. Home audio equipment is extensively used in television as well as computers on account of its ability to amplify the volume emitted by the standard device and cater convenience as well as luxury within the domestic sphere.

Distribution Channel Insights:

On the basis of distribution channel, supermarkets and hypermarkets represent the largest segment as they offer easy accessibility and convenience to the consumers. They are followed by specialty stores, convenience stores and online stores.

Regional Insights:

On a geographical front, North America presently holds the majority of the market share owing to the inclination towards technologically advanced entertainment products in the region. North America is followed by Europe, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape:

The market is highly concentrated with the presence of established manufacturers who compete in terms of prices. There is an intense competition in the market which makes it difficult for new entrants to survive. Some of the leading players operating in the market are:

  • LG
  • Qualcomm
  • Sony Corporation
  • Yamaha Corporation
  • Bose Corporation

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Global Perfume Market Overview 2018: Growth, Size, Demand and Forecast Research Report to 2023

The global perfume market has experienced a healthy growth over the past several years. This can be accredited to the increase in the spending power of the consumers in confluence with innovative product packaging and advertising techniques.

perfume-market

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Perfumes are made from the mixture of fragrant essential oils or aroma compounds, fixatives and solvents, used to give human bodies, animals, objects, and living spaces a pleasing scent. The natural ingredients used to manufacture perfumes include flowers, grasses, spices, fruits, woods, roots, resins, balsams, leaves, gums, and animal secretions. A new research report by IMARC Group, titled “Perfume Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market was worth US$ 37.4 Billion in 2017. The report further anticipates the market to cross US$ 46.5 Billion by 2023, at a projected CAGR of 3.7% over the forecast period.

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Global Perfume Market Drivers/Constraints:

  • The rising trend of personal grooming along with a growing demand for youth-oriented as well as exotic fragrances are the major factors driving the growth of the global perfume market.
  • The increasing customer spending on luxury fragrances owing to inflating disposable incomes and improving standards of living are bolstering the demand for perfumes worldwide.
  • The product diversification by manufacturers, growing urbanization, aggressive advertising and rising population are some of the other major factors impelling the demand for perfumes across the globe.
  • However, the side effects of the chemical materials used in the manufacturing of perfumes are anticipated to hinder the growth of global perfume market.

Product Type Insights:

On the basis of product type, the market has been segmented into premium and mass perfume products. Currently, premium perfume products are the most popular type dominating the global perfume market. This can be attributed to the greater emphasis on quality and personalization which are not offered by mass products.

Category Insights:

Based on perfume categories, female fragrances dominate the perfume market, accounting for nearly two-thirds of the total share. Female fragrances are followed by male fragrances and unisex fragrances.

Regional Insights:

Region-wise, Brazil represents the world’s largest market for perfumes. The important role of fragrances in the Brazilian culture as a sign of personal care, beauty and enhanced self-esteem has contributed to the market growth in the country. It is followed by the United States, Germany, France and Russia.

Competitive Landscape:

The global perfume market is fragmented in nature with a large number of small and big players operating in the industry. The premium perfume market, however, is driven by strong brand recognitions with some of the larger players controlling a significant share of this market. Some of the leading players operating in the market are:

  • Avon Products Inc.
  • Natura Cosméticos SA
  • Chanel SA
  • Coty Inc.
  • LVMH
  • L’Oreal Groupe

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Global Cassava Starch Market Overview 2018, Demand by Regions, Share, Price Trends and Forecast to 2023

The global cassava starch market is currently experiencing a positive growth. This is due to the factors which include high nutritional content, thriving food industry, rising non-food applications and low capital investment.

Cassava-starch-market

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Cassava starch, also known as tapioca starch, can be easily extracted from the roots of cassava as compared to other starches. It incorporates a simple process which can be performed on a small-scale with limited capital. In addition to this, cassava starch has high amounts of calcium, iron, folate, manganese and carbohydrates, whereas low amounts of saturated fat and sodium. Some of the physical and chemical properties of cassava starch include high level of purity, neutral taste, high paste viscosity, high paste clarity and high freeze-thaw stability which are advantageous to many industries. A new research report titled “Cassava Starch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” by IMARC Group estimates that the market reached a volume of 6.7 million tons in 2017. The report further anticipates the market to cross 7.4 million tons, registering a CAGR of approximately 1.6% by 2023.

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Market Drivers/Constraints:

  • Cassava starch is known for its hydrating, thickening, water absorption and texturising properties and thus, it is extensively used in the processing of bakery & pastry products, noodles, soups, yogurts, ice creams, soft drinks, etc. This represents a major factor for the growth in demand of cassava starch.
  • In the adhesive industry, cassava starch is highly preferred as it possesses characteristics which help in improving the appearance, strength and printing properties of paper.
  • Cassava starch offers numerous health benefits such as it reduces cholesterol levels, maintains blood sugar levels, prevents constipation, aids digestion and provides satiety. This coupled with the growing health consciousness among the consumers has further augmented the global demand for cassava starch.
  • However, the price of cassava starch is currently higher than other types of starches, such as corn starch, which is limiting its consumption. This acts as a major road block for the growth of the market.

End-Use Insights:

Based on end-use, sweeteners exhibit a clear dominance in the market, accounting for the majority of the global share. This can be attributed to the thickening and texturising properties of cassava starch. It is followed by MSG/lysine, food industries, paper industries, modified starch and textile.

Regional Insights:

On a geographical front, Asia-Pacific enjoys a leading position in the global cassava starch market owing to the socio-economic conditions of the region. Within Asia-Pacific, Thailand and Indonesia currently represents the biggest markets. Asia-Pacific is followed by Latin America and others.

Competitive Landscape:

The market is surrounded by the presence of manufacturers with different capacities who compete in terms of prices and quality. Some of the leading players operating in the market are:

  • SPAC Starch Product India Limited
  • Vaighai Agro Products
  • Matna Food Ltd.
  • Thai German Processing Co. Ltd.
  • Psaltry International Limited
  • TAPIOCA VIETNAM Company
  • Lentus Foods Ltd.
  • Keng Seng Group of Companies

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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