Overview of the global baby changing stations market
According to Technavio’s analyst, the global baby changing stations market is anticipated to grow at a steady rate and will post a CAGR of close to 4% during the forecast period. The government regulations in the US will drive the growth prospects for the global baby changing stations market until the end of 2021. According to the BABIES Act, good health for families in the US is promoted by equipping women's and men's washrooms with baby changing stations. This act is increasingly drawing the attention of parents and driving the demand and sales of baby changing tables in the country. Furthermore, according to the market research information, various public places such as malls, theaters, convention centers, and other private restrooms are equipped with baby changing units, which, in turn, will drive the growth rate of global baby changing stations market.
The growing demand for portable baby changing stations or folding changing table will drive the growth prospects for the global baby changing stations market for the next four years. Some of the major factors responsible for the growing preference for portable baby changing units among individuals is the availability of soft surface to rest the baby while changing diapers and the added feature to fold the portable baby changing station into a compact shape.
Competitive landscape and key vendors
The global baby changing stations market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. It has been observed that international players are increasingly focusing on increasing their footprint in the market by investing heavily in the infrastructure and research and developmental activities. Also, regional vendors find it
Overview of the food storage container market in the US
The market research analyst at Technavio predicts that the food container market in the US will grow at a CAGR of close to 4% during the forecast period. One of the primary factors driving this market’s growth is the growing preference for durable and lightweight containers. The constant rise in urbanization has led to the increase in people’s spending on food and food service establishments. Moreover, there is also a sharp increase in the number of supermarkets and hypermarkets offering fresh food. Furthermore, the rise in organized retail segment has led to changes in the shopping patterns of the market with vendors trying to develop food and storage containers in new sizes and patterns to meet the demands of the end user. Innovations to maintain freshness, enhancing safety and convenience, and extended shelf life are some of the key aspects the vendors are focussing on to cater to the augmented demand for food containers. With significant investments being made by the vendors in designing and producing lightweight and durable products, this market is anticipated to have a positive outlook over the coming years.
One of the latest trends that will gain traction in the food storage container market in the US is the use of non-reactive and non-toxic materials for manufacturing food storage containers. Factors like improper usage of different ingredients, commodities, and raw materials leading to food contamination can have an adverse effect on the businesses. Seen as one of the biggest threats, food contamination is a major challenge for the food service companies in the US. Measures like Hazard analysis and critical control points (HACCP), a precautionary food safety approach helps mitigate the food-related hazards in any food
Overview of the global lock market
Technavio’s market research analyst predicts the global lock market to grow steadily at a CAGR of above 6% by 2021. One of the primary drivers for this market is the increase in adoption of intelligent building management system. The use of the intelligent building management system includes the deployment of various security systems that help address security concerns. The safety aspect of the intelligent building management system includes the use of safety lockers, electronic locking systems, and intruder alarm systems among other security devices. The adoption rate of the intelligent building management system is higher in developed countries. This is due to the convenience that such integration offers. For instance, automation in heating, lighting, security, ventilation, and climate control systems offers operational convenience to end-users. Moreover, the exponential growth of the construction industry will further propel the market growth of the global lock market during the forecast period.
In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. This is mainly due to the growth witnessed in investments in the residential security systems and home improvement segments. Also, the increase in the cases of residential burglaries has contributed to the increased adoption of locking systems in the region.
Competitive landscape and key vendors
The global lock market is highly fragmented due to the presence of several international and regional vendors. To gain a competitive edge, regional vendors provide low-cost products compared to
Overview of the global underbars refrigeration market
Market research analysts at Technavio predict that the global underbars refrigeration market will grow steadily during the next four years and post a CAGR of almost 6% by 2021. This market research analysis identifies the demand for chilled beverages as one of the primary growth factors for this market. IT has been observed that the underbars refrigeration market is directly proportional to the growth of the alcoholic beverage industry. During the next few years, countries in the APAC, especially China and India will witness a significant increase in the demand for alcoholic drinks. Also, there is a growing preference of people across the world towards consuming alcoholic drinks at social gatherings and the increased spending in pubs and lounges. This will boost the demand for alcoholic beverages and will consequently increase the demand for underbars refrigeration equipment.
Different beverages have the need to be stored at different temperatures. For instance, white wine should be stored at a temperature of 46°F-56°F, whereas, red wine has to be stored at a temperature of 58°F-68°F. This demands the need for separate coolers that not only increases sourcing costs but also increases the consumption of energy. As a result, end-users will start preferring dual-zone underbars refrigerators which will induce vendors to provide underbars refrigerators in various models with digital temperature controls.
Competitive landscape and key
Overview of the gloves market
Technavio’s market research analysts have predicted that the global gloves market will witness robust growth and will post a CAGR of more than 10% over the forecast period. One of the major factors driving this market’s growth is the sharp increase in natural rubber production in countries like Thailand, Vietnam, and Indonesia. Although the world rubber production is expected to be weak during 2016-2017, the consumption in the Association of Natural Rubber Producing Countries (ANRPC) will increase by a significant margin. In order to overcome the factors leading to a decline in rubber production, the rubber board of India has taken several initiatives, which has led to an increase in production of rubber, which will positively affect the gloves market over the coming years.
One of the recent trends gaining traction in the market is the increasing adoption of green and recyclable material for manufacturing gloves. Most product manufacturers are increasingly focusing on the use of green manufacturing processes, technologies, and sustainability. Also, they are using renewable resources like sun and wind power to minimize costs. The growing demand for green products will lead to innovations in new manufacturing processes, ensuring that vendors are committed to use environmental friendly alternatives rather than petroleum-based plastics. Such initiatives will propel this market’s growth until the end of 2021.
Competitive landscape and key vendors
The global gloves market is highly competitive and fragmented with the presence of several well-established vendors in the market. The vendors compete on the basis of price, quality, branding, and customer service. Since there is
Overview of the global commercial baking equipment market
Technavio’s market research analyst predicts the global commercial baking equipment market to grow steadily at a CAGR of above 5% by 2021. One of the primary drivers for this market is the rise in the number of food service establishments preparing baked goods. This increase in the rapid rise of the food service establishments can be attributed to the change in customer preferences towards simple baked goods that are both healthy and organic. Also, the expansion of bakery chains is significantly contributing to the growth of the commercial baking equipment market. Owing to the growing demand for healthy and organic baked products, a number of vendors are attempting to open several stores in various regions of the globe. For instance, in 2015, Croatia-based Mlinar Bakery announced its plans to open multiple bakeries across Germany by the end of 2020. This consumer shift towards freshly baked products will segment the growth of the commercial baking equipment market during the forecast period.
One of the latest trends gaining traction in this market is the development of advanced technology and new product launches. The commercial baking equipment market is at a growing stage and is witnessing rapid technological advances. The focus of these advances is primarily to the operations or control of the equipment, where they are being designed with unique features such as touchscreen controllers, smart and automatic functions, and inbuilt safety sensors. Moreover, the rising demand from the end-users for more energy and water efficient equipment will propel the