Consumer and Retail

Format: 2016-10-28
Format: 2016-10-28
October 28, 2016 | 50 Pages | SKU: IRTNTR9999

Outlook of the textile manufacturing market in Serbia

In Serbia, the market for textile manufacturing will grow at a modest rate and will be positively affected by the strategic location of the country. Serbia is located in the Balkan Peninsula and is bordered by Croatia and Bosnia-Herzegovina to the west, Hungary to the north, Bulgaria to the east, Montenegro to the southwest, and Albania and Macedonia to the south. This strategic location provides the country with a significant advantage from the point of view of trade as it is located at the crossroads of Europe and Asia. The country’s strategic location will be an important factor in influencing the inflow of FDI into the country's manufacturing sectors, including the textile manufacturing industry. Furthermore, its ideal location puts the country in close proximity to leading fashion capitals, such as Italy and France, which enables the manufacturers to keep abreast of changing market trends. According to Technavio’s market research analyst, the textile manufacturing market in Serbia will grow at a CAGR of more than 3% by 2020.

The recent increase in sourcing of textiles from Serbia will also spur this market’s growth potential over the next few years. Benefits like the availability of cheap labor, strategic location, and favorable trade agreements with neighboring countries have helped Serbia become a leading destination for high-quality textiles. Despite poor economic conditions in recent years, such as a drop in foreign investments, the textile manufacturing market in Serbia managed to post sustained growth due to factors like consistent demand, which provides ample growth opportunities to SMEs in the country.

Competitive landscape and key vendors

This market is fragmented and is dominated by small and medium-sized enterprises, which account for approximately 75% of the market. There are a total of about 400-500

October 28, 2016 | 50 Pages | SKU: IRTNTR10119

Overview of the consumer electronics market in Bulgaria

Market research analysts at Technavio have envisaged that consumer electronics market in Bulgaria will witness staggering growth and will post an impressive CAGR of more than 10% over the forecast period. The smartphone segment is one of the key contributors to the consumer electronics market. Bulgaria’s accession to the EU and subsequent economic growth has led to the proliferation of the smartphones market. Moreover, the consumers in Bulgaria have access to the latest services, including 4G/LTE. This has also contributed to the growth of the smartphone and tablets market in the country. By the end of 2014, there were more than 3 million users of smartphones and almost 1.5 million users of tablets in Bulgaria. Also, as per Vivacom, a leading telecom services provider, there has been a boost in the penetration of smartphones in Bulgaria due to increasing popularity of Android-based smartphones in the market, which will aid in the growth of the consumer electronics market in Bulgaria.

Bulgaria is emerging to be one of the most sought after manufacturing hubs in southeastern Europe due to the availability of advanced manufacturing technologies, experienced workforce, and low competition. Most of the companies in this sector are either small or medium-sized enterprises and are generally export oriented. They manufacture products that cater to several industries including industrial, automotive, medical, telecommunications, military, lighting, security, defense, renewable energy equipment, and consumer electronics markets. The majority of manufacturers have implemented in-house quality management systems. Also, OEMs that develop and manufacture their own products offer services such as EMS to Bulgarian and international clients. Moreover, Bulgaria also offers other advantages such as low raw material and manufacturing costs, which are expected to attract

October 28, 2016 | 50 Pages | SKU: IRTNTR10110

Outlook of the furniture manufacturing market in Bulgaria

According to Technavio’s market research analyst, the market for furniture manufacturing in Bulgaria will grow steadily and will be positively affected by changing consumer preferences. Over the past two years, it has been observed that the consumers of furniture in Bulgaria are purchasing low and medium-priced products as opposed to premium furniture products, which were in substantial demand before the global economic crisis of 2008. Manufacturers of such products are focusing on enhancing their production processes to increase productivity and lower costs, along with expanding their portfolios. This has opened up new growth opportunities for manufacturers of furniture operating in this price segment. A comprehensive market study carried out by the analysts at Technavio has shown that the market for furniture manufacturing in Bulgaria will grow at a CAGR of over 5% by 2020.

The augmented demand for wood-based panels is another factor spurring growth in this market. Wood-based panels are being extensively used as raw materials for the production of furniture in Bulgaria. Consequently, the demand for solid wood has decreased. The recent increase in the demand for wood-based panels from furniture manufacturers is also because of their low price, especially when compared to sawn wood. Since wood-based panels offer ease-of-assembly to furniture manufacturers, the manufacturing costs for vendors will also decrease.

Competitive landscape and key vendors

This market is marked by the presence of diverse international and regional manufacturers. However, as international players have established their footprint in the market, regional manufacturers are finding it increasingly difficult to compete with them, especially on the basis of quality, technology, and pricing. The competitive environment in this market will likely

October 26, 2016 | 60 Pages | SKU: IRTNTR9987

Overview of the furniture manufacturing market in Turkey

According to the market research analysts at Technavio, the furniture manufacturing market in Turkey will witness tremendous growth and post a staggering CAGR of more than 9% during the forecast period. The major distinguishing factor in the furniture manufacturing industry is the cost of the product, which is directly dependent on labor costs. This works in favor of the Turkish manufacturers due the abundance of cheap labor in the country compared to the other European countries that are faced with issues like strong labor rights, shorter working hours, high wages, and social security costs. Such benefits allow Turkey to produce high-quality furniture that conforms to European standards at low prices.

The augmented use of medium-density fiberboard (MDF) in furniture is one of the emerging trends spurring this market’s growth prospects during the forecast period. MDF is an engineered product made by breaking down hardwood or softwood residuals into wood fibers, combining it with wax and a resin binder, and forming panels by compressing this mixture under high temperature and conditions. MDF is denser than plywood and because of its high tensile strength and flexibility, MDF panels and MDF-based products have become the materials of choice in the furniture industry in Turkey. Also, Turkey is one of the largest manufacturers of MDF in Europe, which will also contribute to the growth of this market during the predicted period.

Segmentation by product type and analysis of the furniture manufacturing market in Turkey

  • Office and shop furniture
  • Kitchen furniture
  • Mattresses

In terms of revenue, the office and shop furniture segment dominated the furniture manufacturing market in Turkey and accounted for close to 39% of the total market shares during 2015. Office furniture includes a

October 20, 2016 | 73 Pages | SKU: IRTNTR10648

Overview of the global baby bottles market

Technavio’s market research analyst predicts the global baby bottles market to grow moderately over the forecast period, registering a CAGR of more than 4%. Owing to hectic schedules and increased number of working women, many lactating mothers are opting for formula milk for the baby instead of breast milk. Vendors are coming up with baby formula milk that can be stored for longer durations after preparation. These baby formulas also claim to contain nutrients present in breast milk. The harmful effects of BPA on health is another area of focus for the vendors yo develop BPA-free baby bottles for the healthy growth of the infants. Vendors are focusing on developing BPA-free baby bottles, made of either PES/polyamide or polypropylene instead of polycarbonate. At present, the majority of the vendors, such as Green to Grow, Nuby, Momo Baby, Mother's Milkmate, and Medela, are manufacturing and distributing BPA-free baby bottles.

In terms of geographical analysis, APAC accounts for the highest share of the global baby bottles market, owing to the rapid population and high fertility rates in the region. APAC is witnessing an increase in demand for high-tech baby bottle products with trendy designs and features. Baby bottles are not highly expensive products, which makes them affordable to consumers of most classes. With the rise of Internet retailing and growing consumer awareness, the baby bottle market in APAC is expected to register high growth during the forecast period.

Competitive landscape and key vendors

The global baby bottles market is dominated by a few global vendors including Philips, Pigeon Corporation, Mayborn, Handi-Craft, and Munchkin. Intense competition prevails in the market where these key players contend to

October 20, 2016 | 64 Pages | SKU: IRTNTR10644

Overview of the global home theater projector market

Technavio’s market research analysts predict the global home theater projector market to grow at a CAGR of around 8% between 2016 and 2020. The growing preference for a theater-like movie or gaming experience among consumers has led to the increased adoption of home theater projectors. Also, these projectors are portable and more economical than products like flat-screen TVs. One of the recent developments in the market is the growing demand for ultra-short throw projectors with high brightness. Also, consumers are opting for energy-efficient and eco-friendly projectors. Recently, Casio launched a new range of eco-friendly LampFree projectors that consume over 50% less electricity than regular projectors. Vendors have also introduced smart projectors, which automatically shifts to an idle mode when not in use, thereby saving electricity.

Geographically, APAC is one of the fastest-growing regions in the global home theater projector market. China, Japan, and India are the major revenue contributing countries in this region. The emerging middle-class population of the region with their increasing disposable income is the major driving force in the growth of the market in APAC. With the increasing procurement of expensive products, including advanced audio and video devices, by a large segment of the population, the home theater projector market in APAC will witness a huge growth rate during the forecast period.

Competitive landscape and key vendors

Marked by the presence of well-established global as well as local players, the global home theater projector market is highly fragmented. Intense competition prevails in the market where the manufacturers are constantly