Functional Apparels Market Analysis in Good Shape in 2024; COVID-19 to Affect Future Growth

The functional use of a fabric refers to its utility and durability in a garment which is influencing the purchase intent of consumers across the globe.Several utilities offered by functional apparels include shape retention, comfort, ease of care, and safety.Durability of a functional apparel refers to the serviceability of the fabric regarding strength, abrasion resistance, and resistance to degradation by chemicals and other foreign elements. attract, the design, material used, manufacturing, and the finish of a garment defines the aesthetic performance of functional apparels.

The global Functional Apparels Market Sharehas been divided, by end user, into men and women.The men segment is expected to dominate the global functional apparels market during the assessment period.Large men population involved in gymnasium and other activities including cycling, golfing, skateboarding, and many more looking For comfort and style are expected to fuel the global functional apparels market during the forecast period.Large number of men are employed in jobs involving high life risk such as real estate and factories manufacturing goods which require safety precautions at work are further boosting the global functional apparels market.However, the women segment is projected to record the highest CAGR due to growing number of working women and increasing involvement of women in sports activities such as swimming and volleyball as well as fitness regimes including yoga.

Regional Analysis:
The global functional apparels market has been segmented by North America, Europe, Asia-Pacific, and the rest of the world.

The functional apparels market in North America is expected to dominate during the forecast period.Rising consumption of high calorie and fast food has aroused a sense of health consciousness among consumers of the region.This change has influenced the consumers to get involved in physical and sports. .activity, which in turn is expected to drive the regional market growth during the forecast period.

Asia-Pacific is expected to dominate and continue to grow rapidly during the forecast period. High adoption of cross cultural fashion trends, growing inclination for outdoor sports and increasing need for safety gears in hazardous work life are expected to increase the adoption of functional apparels across the region.

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Segmentation:
The global functional apparels market has been segmented based on product type, end use, and region.

By product type, the global functional apparels market has been segregated into protective wear, sportswear, laboratory wear, and others. The protective wear segment has been further segmented into eye protection, hand protection, foot protection, and others. The sportswear segment has been divided into head gear, eye & face shields, mouth guards, and others. The laboratory wear is further segregated into safety goggles, footwear, lab coat, hand wear, and others.

The global functional apparels market has been classified as end use into men and women.

Key Players:
Some of the key players in the global functional apparels market are Adidas AG (Germany), Icebreaker (New Zealand), Tommy Hilfiger Licensing LLC (Netherlands), Nike, Inc. (US), New Balance Athletics, Inc. US ), Under Armor, Inc. (US), ASICS Corporation (Japan), Russell Brands, LLC (US), Skechers USA, Inc. (US), and Puma SE (Germany).

Oleoresins Market Analysis Recorded Strong Growth in 2024; COVID-19 Pandemic Set to Drop Sales

Oleoresins are a naturally occurring combination of oil and resin that can be extracted from plants. They are a highly concentrated substance that exists in liquid form. Oleoresins are generally obtained by evaporation of solvents used for their production. Oleoresins are natural liquid flavoring that contain both volatile and non-volatile flavor components especially obtained from ground spice or herb with more rapid flavor release. Application of oleoresins in foods and personal care products is increasing from last few years. Oleoresins is replacing the original ground spice with a standardized taste and aroma that can be personalized as per the requirement of the product which is reflecting positive attitude of consumers towards oleoresins.

Market Forecast

Globally the Oleoresins Market is mainly driven by increasing application of oleoresins in food industry as a flavoring and coloring agent. Growing demand for Ready to Eat (RTE) meals has boosted the sales of oleoresins especially capsicum, onion and black pepper as flavoring agent. Rising application of oleoresins in pharmaceutical industry due to health benefits associated with oleoresins is influencing the market growth. Increasing demand in bakery products is also supporting the market growth. Many personal care products manufacturers are using oleoresins for fragrance which is also driving the demand of oleoresins.

These factors will play a key role in the growth of Oleoresins market at the CAGR of 4% during 2016-2022.

By Application Analysis-

Oleoresins are largely used for used as a flavoring and coloring agent in food and beverages products. Among the various ingredients vanilla, green ginger, cumin, fennel are popular due to their increase in applications in confectionery, candies, jellies and dairy products. Increase in demand for frozen foods, desserts, soups, meat sauces as a vibrant coloring agent is supporting market growth for oleoresins. Soaps, candle, perfume and hair lotion manufacturers are using oleoresins to get desired fragrance in their products. Poultry feed is also driving higher demand for oleoresins as they enhance color of eggs and poultry products.

Competitive analysis-

The major key players in oleoresins market are

• Asian Oleoresin Company (India)
• Silverline Chemicals Ltd (India)
• Jean Gazignaire SA (France)
• Qingdao Ruibang Biotechnology Co., Ltd (China)
• Agnes Herbs (India)
• Shijiazhuang city bio technology co., ltd (China)
• Adani Pharmachem Private Limited (India)
• Kancor Ingredients Limited (India)
• Ozone Naturals (India)
• Plant lipids (India)

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Regional Analysis

The global oleoresins market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Among this Asia Pacific region is dominating the oleoresins market followed by Europe. Growing popularity of healthy and nutritious food products in world is driving the demand of natural flavoring and coloring agent in food. Increasing disposable income and awareness about health benefits of oleoresins in developing countries like India and China has creating the demand of oleoresins in Asia Pacific regions. The European Food Safety Authority has recommend the capsicum oleoresins as potential feed additive for chicken which is playing the key role in growth of oleoresins market in Europe.

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Molasses Market Analysis in Good Shape in 2024; COVID-19 to Affect Future Growth Trajectory

Molasses is a viscous bi product obtained from refining sugarcane and sugar beets into sugar.Sugar cane and sugar beets molasses has a thicker texture. Sugarcane cultivation rate is high in these countries. Molasses is used for healing burns, treating constipation, alleviating blood pressure, and reducing fat accumulation in the human body. Thus, considering these factors, molasses market is expected witness high growth in forecast period.

Based on type, the global Molasses Industry Trends has been segmented into light, dark, blackstrap, and others.The blackstrap segment is anticipated to gain the largest revenue share in the global molasses market and shall maintain lead throughout the forecast period.Blackstrap molasses is being used in various applications such as food, alcoholic beverages, animal feed, and others due to the health benefits offered by the blackstrap molasses syrup.This is a crucial determinant that is catalyzing the growth of blackstrap segment in the global molasses market.The same segment is expected to grow with the highest growth rate owing to the growth of end-use industries in which molasses is used.

The global molasses market has been segregated, by category, into organic and conventional.The conventional segment is expected to garner major share in the global molasses market owing to the huge availability of conventional molasses.However, the organic segment is anticipated to project a higher CAGR during the forecast period due to the rising inclination of consumers towards organic products.

The global molasses market is been classified, by source, into sugarcane, sugar beets and others.The sugarcane segment is expected to gain largest share, owing to the factor that sugarcane is cultivated on a large scale and the cost of the process to extract molasses is low.

The global molasses market has been segregated, by application, into functional food & beverages, animal feed, biofuel and others. The food & beverage segment is projected to gain largest share in the global molasses market due to the major application of molasses as sweetener in food and beverage products. The high antioxidant activity of molasses categorizes it as superfoods and play a vital role as a food supplement. However, the animal feed segment is anticipated to grow with the highest growth rate during the forecast period owing to the significant increase in animal farming.

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Regional Analysis:

The global molasses market has been segmented on the basis of region, into North America, Europe, Asia-Pacific, Rest of the World.

Asia-Pacific is expected to dominate the global molasses market owing to the large production of molasses in the region. Countries such as India, Thailand, Philippines and Indonesia are among the largest producers of molasses in the region.

Europe and RoW molasses market is expected to grow at a rapid pace due to the surging production and consumption of molasses in the regions.More, North America is also expected to project a significant market share owing to the increasing awareness regarding the health benefits of molasses and increasing preference of among the consumers in the region.

Juice Concentrates Market Analysis in Good Shape in 2024

Increasing awareness about healthy lifestyle which helps in enhancing overall health has driven growth of the juice concentrate market.Demand from the working class has increased in recent years. Juice concentrates are high in nutrition hence consumers have seen rise in demand for it.Along with all these growing demand about healthy alternative to carbonated drinks also boosting the juice concentrate market growth further.Market Research Future, a firm which specializes in market reports related to the Foods, Beverages & Nutrition sector among others, recently forecasted in its report “Global Juice Concentrates Market Size Research Report- Forecast to 2023 ”that the market will demonstrate an exceptional CAGR% while achieving million dollar growth readily in the forecast period.

Juice concentrate is a non-fermented liquid extract obtained by squeezing fresh fruits which has almost no water content. Juice concentrates are as healthy as the fresh fruits.Low-cost involvement in logistics and storage, and high demand for fruit drinks, yogurt, ice Cream, and baby food are primarily driving the global juice concentrate market.Also, high demand of juice concentrate from confectionary industry has surged the global juice concentrate market.

Juice concentrate is light on stomach and good for digestion as it is enriched with some of the most essential nutrients and minerals that our body needs.Due to hectic work schedules that working class goes through every day, they are unable to take proper nutrient regularly and their body lacks these as well as antioxidants that helps in treating various heart, skin, hair and other health related problems.The demand for juice concentrate is expected to increase exponentially in the coming years especially in developed countries where juice concentrate is becoming an important part. Juice concentrate is mainly available in liquid, powdered and frozen form so that conveniently suits numerous consumers' requirement.R & D, innovative product line,improvement in the packaging technology are some of the latest methods followed by key manufacturers which have been driving the market growth in recent years.

Globally, the juice concentrate market is mainly driven due to growing awareness among consumer regarding importance of nutrient intake. Consuming vegetable juices is convenient than consuming cooked vegetable as cooking is a tedious process especially when hectic schedule is followed every day without fail. Increasing popularity about natural as well as healthy ingredients in juice concentrate is effecting growth of the market. Manufacturers are introducing number of products with different combination of vegetables, fruits and other ingredients which is fueling sales of juice concentrate worldwide. Rising recommendation of juice concentrate from dieticians is also supporting the market growth due to urge for living a healthy lifestyle.

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Latest Industry Updates

Sep 2017 Sysco Corporation SYY has launched seven new products, which include cheesecakes, juice concentrates, organic chicken and shrimp amongst others.These products are designed to suit the health and wellness of consumers as well as save labor.

Aug 2017 Prodalim Group, one of the leading suppliers of juices, concentrates and multiunit blends, has entered into an agreement to acquire the Louis Dreyfus Company (LDC) juice facility in Winter Garden, Florida.The company is focusing towards mergers / acquisitions to strengthen its business portfolio.

Knitwear Market Analysis in Good Shape in 2024; COVID-19 to Affect Future Growth Trajectory

The clothes manufactured through knitting wool or other fabrics are commonly known as knitwear. The major determinant fueling the growth of global knitwear market is the surging penetration of e-commerce platform in the sales of knitwear. Countries such as Russia, China, India, Brazil, and South Africa are mainly witnessing a surging demand for knitwear through online retail channel.

Global Key Players:

Some of the key players in the global knitwear market are Adidas AG (Germany), Gildan Activewear Inc. (Canada), Loro Piana S.p.A. (Italy), Puma SE (Germany), Ralph Lauren Corporation (the US), The Nautical Company (UK) Ltd (UK), Victoria’s Secret (the US), Maglificio Ripa S.p.a (Italy), LENZING AG (Austria), Ecowool (New Zealand), and Sana Hastakala (P) Ltd. (Nepal).

The global knitwear market has been segregated, by category, into men, women, and kids. The women’s segment is expected to dominate the global knitwear market during the assessment period as a major demand of apparels is from the women’s category. Moreover, knitwear for women are available in a wide variety of designs and patterns. The same segment is anticipated to witness a higher CAGR during forecast period due to higher awareness among women regarding changing fashion trends and their willingness to buy new apparels.

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Based on material type, the global knitwear market has been segmented into natural, synthetic, and blended. The natural segment gained the highest market share in 2017 owing to the versatile, cozy, anti-wrinkle, high absorption capacity, and warm nature of natural fabrics such as cotton, silk, and wool. However, the blended segment is expected to register a higher growth rate during the forecast period owing to the mixed properties offered by blended fabrics. Blended fabric material provides comfort, coziness, elasticity, durability and is easy to work upon.

The global market for knitwear has also been classified, by distribution channel, as store based and non-store based. The store based segment is anticipated to gain the lion’s share in the global knitwear market due to the presence of established brick & mortar stores across the globe. However, the non-store based segment is anticipated to project a higher CAGR during the forecast period due to the rising penetration of e-commerce in knitwear sales.

The global market for knitwear has also been classified, by end-use, as innerwear and outerwear. The outerwear segment is expected to dominate the market due to the availability of different formats of outwear knitwear. In addition, the rate of wear and tare of outerwear is high as compared to innerwear, which in turn is surging the sales of outerwear segment.

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On the basis of region, the global knitwear market has been segmented into North America, Europe, Asia-Pacific, and RoW. North America and Europe are expected to account for the highest market share in the global knitwear market owing to presence of several prominent market players in the regions. Moreover, the customers in the respective regions have a higher purchasing ability to buy premium knitwear products.

Asia-Pacific is expected to exhibit the highest CAGR in the global knitwear market due to the surging demand for textile products in countries such as India, China, Taiwan, and Indonesia. Market players are outsourcing their production operations from Asia-Pacific, which in turn is catalyzing the region’s market growth.