Smart Grid Sensor Market to Record Sturdy Growth by 2021

A smart grid sensor is a small and lightweight node that serves as a detection station in a sensor network. Smart grid sensors enable the remote monitoring of equipment such as transformers and power lines, and the demand-side management of resources on an energy smart grid. Smart grid sensors are generally used to monitor weather conditions and power line temperature, which can then be used to calculate the line’s carrying capacity. This process, known as dynamic line rating, helps in increasing the power flow of existing transmission lines for power companies. A smart grid sensor can also be used within homes and businesses to increase energy efficiency. A smart grid sensor can be of four types: microcomputer, transducer, power source, and transceiver .

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Transducers can be used to generate electrical signals based on phenomena such as power-line voltage. Microcomputers can be used to process and store the sensor output. The transceiver receives command from a central computer and transmits data to that computer. The power for each sensor can be derived from the electric utility or from a battery. Smart grids require monitoring, control functions, and multiple sensing at various levels. Smart grids can solve various problems in  managing current electric grid infrastructure by enabling broad knowledge  and control of operations at all levels, from generation to transmission and distribution to end use. All these functions, such as monitoring, control functions, and multiple sensing, depend on real-time collection and communication of a wide range of data throughout the grid, which creates significant opportunities for various types of sensors.

Based on the sensor type, the global smart grid sensor market is divided into four segments: energy conservation sensors, humidity and temperature sensors, current sensors, and oil moisture sensors. On the basis of application, the global smart grid sensor market is divided into four segments: advanced metering infrastructure (AMI), smart meters, SCADA, lead management, and others .

In terms of geography, North America dominates the global smart grid sensor market. The U.S. represents the largest market for smart grid sensor, followed by Canada in North America. In Europe, France, Germany, Italy, Spain, and the U.K. hold the major share of the smart grid sensor market. However, Asia Pacific is expected to witness high growth rates in the next five years in the smart grid sensor market. China and Japan represent the largest markets in Asia Pacific.

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Convergence  of severe weather, growing interest in green technologies, ageing infrastructure, and inefficient power balancing are some of the major driving forces for the global smart grid sensor market. Smart metering and meter data analytics, grid management, and renewable energy grid integration create opportunities for the global smart grid sensor market.

Some of the major companies operating in the global smart grid sensor market are Alstom, Atmospheric Systems, Corp. (ASC), AT&T, ABB, Axiom Power, IUS Technologies, Toshiba, Ford, Elster Solutions, GE’s Digital Energy, Silver Spring Networks, Cisco, Google, FreeWave Technologies, Honeywell, Honda, Schneider Electric, Mitsubishi, Eaton, and Siemens.

Wireless Audio Device Market to Record Sturdy Growth by 2021

A device that uses wireless technology to play different types of audio files is called a wireless audio device. A wireless audio device consists of microphones, sound bar, wireless speaker system, wireless transmitter and receiver system, integrated audio system, dedicated speaker docks, speaker adapters, in-ear monitoring systems, and musical pickups. Depending on the design, modern wireless audio devices either come with power cables or run on batteries. A wireless audio device offers proper connectivity, expandability, flexibility, and convenience. These devices can operate in the vacant spectrum between frequency ranges of 520 MHz and 1800 MHz.

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Based on technology, the global wireless audio device market is segmented into four categories: Airplay, Bluetooth, Wi-Fi, and others (including skaa, play- fi, and sonos). Among various applications, Bluetooth accounts for the largest segment in the wireless audio device market.

Based on application, the global wireless audio device market is segmented into four categories: consumer and home application, commercial application, automotive application, and others (including security application and defense application). Commercial application forms the largest segment owing to the soaring demand of wireless audio devices from thte automotive and defense sectors. Based on product, the global wireless audio device market is classified into four categories: sound bars, wireless speaker systems, wireless headsets & microphones, and others. Wireless speaker systems are further divided into three different categories: Bluetooth speakers, speaker adapters, and dedicated speaker docks.

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Increasing mobility requirement, advancements in wireless audio technologies, and growing demand for infotainment services are the key factors driving the global wireless audio device market. Negative health effects on children and other user groups as well as other issues, such as operating frequency compliance acts, restrain the global wireless audio device market. Major companies such as Apple, Inc., Bose Corporation, DEI Holdings, Inc., Harman International, Inc., and Plantronics, Inc. offers innovative audio devices with the latest features. Growing investment for research and development of sophisticated wireless audio devices further helps in the growth of this market.

North America is the largest market for wireless audio devices, followed by Asia Pacific. In North America, the U.S. accounts for the largest market share in the wireless audio device market. China, Japan, and India are some of the major market for wireless audio devices in Asia Pacific. This market is expected to exhibit double digit growth rate during the forecast period.

 

 

High-speed Camera Market to Record Sturdy Growth by 2021

High-speed cameras are the sophisticated version of normal digital cameras with high resolution capacity and ability to capture ultra-high speed events. High-speed cameras can analyze invisible objects which are beyond the capacity of human eye. The quality of a high-speed camera is determined by various attributes such as, frame rates, resolution, memory size, battery, image processing, and light sensitivity. A variety of high-speed cameras are available in the market with extensive range of frame rates varying from zero frames per second (FPS) to 100 billion frames per second and resolution ranges from 1MP (megapixel) to billions of megapixels. Wide range of frame rate of high speed camera is helping in its increasing penetration in comparison with digital normal camera, which is capable to reach only 30 frames per second. High-speed cameras are used in various industries such as entertainment, military, aerospace, media, healthcare, paper and printing, automotive, and scientific research industries.

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Due to advanced features of high-speed cameras over other cameras, its demand is growing across industries. Demand for high-speed camera within the R&D sector is also growing owing to its high frame rate, image processing, and wide light sensitivity range. Entertainment & media is an emerging market for high-speed cameras and is providing white market space to the high-speed camera manufacturers.

Based on components, the global high-speed camera market is segmented into image sensors, lens, memory systems, battery, image processors, fans and cooling systems, and others, including semiconductor components. Based on accessories, the market is segmented into memory cartridge, lens adapters and extenders, camera lenses, lighting accessories, triggers and tripods, and liquid heads.

Asia Pacific is a major market for high-speed cameras and is set to grow at the fastest rate during the forecast period. China, Japan, and India are the main markets in this region. North America is the second-largest market for high-speed cameras, with the U.S. accounting for major market share.

Strict mandates for automotive clearance, rising number of sensor manufacturers, and increasing performance due to advancement of latest technology are further expected to impel the global high-speed camera market during the forecast period. This market is projected to expand at single-digit growth rate during the forecast period. Long product replacement cycle and high cost of high speed camera are some of the factors which act as a restrain for the global high-speed camera market.

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Some of the major players in the market are Vision Research Inc., Photron Limited, Olympus Corporation, Mikrotron GmbH, nac Image Technology, Del Imaging Systems LLC, Motion Capture Technologies, AOS Technologies AG, Fastec Imaging Corporation, Optronis GmbH, PCO AG, and Weisscamm. Among these, some leading companies such as Vision Research Inc., Photron Limited, Olympus Corporation, and Mikrotron GmbH are offering innovative high-speed cameras with emphasis on latest technology and features. Growing investment in R&D of high-speed cameras is further driving the growth of this market.

Touch Screens in Mobile Devices Market to Record Sturdy Growth by 2021

Touch screens in mobile devices are interface between users and devices that enable an easy interaction and visual experience. The use of touch screen technology in smartphone, tablets, laptops, mobile phones, and other portable information devices is gaining momentum. Touch screens enables the user to interact freely with the device without any hassles and with strong control. In the current scenario most of the touch screen based mobile devices are equipped with multi-touch technology. This is due to the ability of multi-touch screens of providing better functionalities (interaction ability) than single touch screens. Multi-touch enables the users with the ease of zooming, scrolling or rotating the screens according to the requirement.

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Touch screen in mobile devices market is segmented on the basis of type of technologies used for developing the screen, type of device and geography. There are basically four types of touch screen technologies used for mobile devices, namely, capacitive touch screen, resistive touch screen, surface acoustic wave touch screen and infrared touch screens. Capacitive touch screens account for the major share in mobile devices market owing to its less cost as compared to other touch screen technologies and it durability in harsh environment. The touch screens are controlled by the using an internal circuitry called as touch screen controllers. These controllers are designed depending upon the type of touch screen technology. In additions to the controls, the touch screens operations are based on other components such as touch screen software driver and touch screen sensors. The type of portable devices using touch screens includes smartphone, tablets, laptops, smart watches and other portable devices. Smartphone segment contributes maximum to the units of shipments of touch screens in mobile devices market. Owing to the high growth rate of smartphone market in Africa, Asia and Middle East, the touch screen market is expected to show high growth across these regions over the forecast period.

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Touch screen in mobile devices market is primarily driven by the rising adoption of smartphone across the globe. The market is expected to show high growth rate owing to the emergence of new touch screen devices such as tablets and smart wearable devices. Additionally, with entry of low cost smartphone manufacturers, the availability of smartphone with touch screens at affordable prices has increased manifold, thereby further boosting the growth of the touch screen market. However, the extra cost involved in protecting the screen from the dirt and scratches is hindering growth of the market. The impact of this restraint is expected to minimize over the coming years due to technological advancement is screen protections solutions. For instance the screen protections films such as Gorilla Glass, Dragontail and Xensation are developed to protect the screens on the mobile devices. However, the market has tremendous growth opportunities in developing countries of Africa, Asia and Middle East where the market for mobile devices is at nascent stage and is expected to grow at high rates.

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The key players offering touch screen in mobile devices are Alps Electric Co. Ltd., Atmel Corporation, Cirque Corporation, Cypress Semiconductor Corporation, Synaptics, Incorporated, Touch International, Neonode, Inc. Samsung Electronics Co., LG Display Co., Sharp Corp., Chimei Innolux Corp., TPK Holding Corp. and Wintek Corp. among others. Mobile devices providers such as Apple, Inc. get the touch screens from different vendors and install them on their devices. Currently Apple, Inc’s iPad 2 has touch screens manufactured by four different vendors, namely, Samsung, Inc., Chimei Innolux Corp., TPK Holding Corp. and Wintek Corp. Huawei Technologies Co. Ltd has recently chosen Cypress Semiconductor Corporation’s TrueTouch Gen5 touch screen controller for its MediaPadX1 tablet.

Point-to-Multipoint Microwave Backhaul Market to Record Sturdy Growth by 2021

Point-to-multipoint microwave backhaul systems offer economical, flexible and easy to deploy communication system for remote sites. These systems are ideal for deployment in security and surveillance systems, campus buildings, control systems, WISP (wireless Internet service provider) applications and integrating remote business sites, among others. The rapid emergence of mobile data and multimedia services and the newer network technologies such as LTE, HSPA+, mobile WiMAX, CDMA and EV-DO (enhanced voice-data only), among others, are creating need for high-speed wireless infrastructure. Organizations and corporations are increasingly demanding high network availability and dedicated capacity for their daily operations.

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The cost of mobile backhaul has been a significant factor for launch of new solutions and services. At the same time solutions such as E1 TDM (time division multiplexing) are proving to be inefficient as the associated cost scales linearly with increase in capacity. Initially, the focus of point-to-multipoint microwave backhaul solution vendors was on bandwidth management, adaptive modulation and statistical multiplexing .However, there has been an increasing focus on interference management and dynamic bandwidth sharing in the recent years. The growth of point-to-multipoint microwave backhaul solutions is driven by the increased need for higher capacity and efficient technology among mobile operators in order to be able to satisfy the growing consumer demand for high data rate and efficient services. Further, the growing number of small cell networks and LTE, the increased pressure on networks due to high data traffic, and contrasting small cell deployment scenarios is forcing the operators to review their approach toward backhaul. Point-to-multipoint microwave backhaul products provide operators a better, powerful and cost-efficient wireless solution fitting the current and future high-capacity access and backhaul needs in the heterogeneous environments. Point-to-multipoint solutions are also easy and quick to deploy. This makes them a better solution in environments where there is immediate need for enhancing network capacity.

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Various segments in point-to-multipoint microwave backhaul market include split-mount, all outdoor and small cells. Initially, majority of point-to-multipoint backhaul deployments were based on FDD (frequency division duplexing). However, there has been an increased push toward the use of TDD (time division duplexing) in the recent years. The LTE deployments and growth of small cells would significantly drive the growth of point-to-multipoint microwave backhaul market over the coming years. Emerging markets in Asia Pacific are expected to lead the LTE adoption during the coming years. Regions including Asia Pacific, Africa and Middle East are experiencing continued growth in demand for point-to-multipoint microwave backhaul solutions. The more developed markets are expected to drive the growth of small cells market. Thus, there is significant scope for growth of point-to-multipoint microwave backhaul solutions in both emerging and developed economies. There is also increasing emphasis on deployment of fiber networks among mobile operators and this represents a challenge for the growth of backhaul solutions. However, backhaul solutions are cheaper and easy to deploy and thus would continue to find increasing demand, especially, in the developing economies.

Key players in this market include Cambridge Broadband Networks Limited (VectaStar), Airspan

Herbal Supplements Market in Australia to Rise US$ 760.9 Mn by 2025

The report has profiled leading manufacturers of herbal supplements across Australia and New Zealand. Companies such as Deep Blue Health (NZ) Co. Limited, Phytomed, NZ Herbals, Blackmores Limited, Vitaco Holdings Limited, Bioglan, Integria Healthcare and Sanderson are key players partaking in the growth of Australia and New Zealand’s herbal supplements market.

Balancing diets of the common people continues to be a top priority of governments witnessing an alarming rise in food-related disorders. Some regions are augmenting their staple foods while others are adopting new edible products in their nutritionally deficient diets. On the same lines, the demand for herbal supplements is also on an upsurge. Herbal supplements taken as medications are helping consumers become more resilient to generic diseases, which is incidentally prompting companies to increase their production. In Australia and New Zealand, the demand for herbal supplements is also expected to gain traction in the years to come. Persistence Market Research’s report on Australia & New Zealand’s herbal supplements market projects that by the end of 2025, a little over US$ 760 Mn will be amassed in revenues.

According to the report, titled “Herbal Supplements Market: Australia & New Zealand Industry Analysis and Forecast, 2017-2025,” the market is expected to bring in US$ 434.9 Mn by the end of 2017. In the eight-year forecast period, the herbal supplement revenues in Australia & New Zealand will have soared at an impressive 7.2% CAGR. The region’s rich dietary culture and growing per capita healthcare expenditure will continue to favor the growth of its herbal supplements market. Increasing demand for herbal supplements to strengthen one’s immunity and a sizeable population of baby boomers are two crucial factors driving the sales of herbal supplements in Australia and New Zealand.

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Moreover, the consumers in this region are also actively aware of new products entering their market, particularly the ones with functional benefits. In 2016, more than US$ 150 Mn worth of herbal supplements were sold as tablets across Australia and New Zealand. The demand for herbal supplements in form of capsules and liquid products will continue to remain relatively high, registering a value CAGR of 7% and over. Demand for powdered herbal supplements will remain relatively less towards the end of forecast period.

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In addition to this, increasing application of herbal supplements in production of beauty & cosmetic care products is also driving the market’s growth. However, over 20% of Australia and New Zealand’s herbal supplements sales through 2025 will be emanating from sales of digestive & heart supplements. Prevalence of cardiovascular diseases among the region’s demographics will continue to boost the sales of herbal supplements. Revenues amassed from sales of bone & joint supplements are also expected to soar robustly, surpassing US$ 100 Mn towards the end of 2025.

Cold Pressed Juice Market : Grocery stores to Rise US$ 300 million by 2024

According to the report, titled “Cold Pressed Juice Market: Global Industry Analysis and Forecast, 2016-2024,” Persistence Market Research projects that adoption of cold-press technology has gained traction in the US and Canada. In 2016, sales of cold-pressed juices in North America accounted for more than one-third of global revenues. By the end of 2024, North America’s cold-pressed juice market is anticipated to be valued over US$ 311 million. Consumption of cold-pressed juices in Europe is also expected to grow rapidly during the course of projection period. Through 2024, Europe’s cold-pressed juice revenues will have soared at a CAGR of 7%. Latin America and Middle East & Africa are two regions which are likely to incur moderate revenue growth, while contribution of Asia-Pacific to global cold-pressed juice market revenues will witness a bordering decline over the forecast period.

Commercial extraction of pulp or juice directly from fruits, vegetables and other agricultural produce has become easier due to the advent of cold-press technology. The temperate pressure applied on produce during a cold-pressed process not only helps in extracting a fine blend of juice and pulp, but also improves the quality of extract. Consumers from around the world are being acquainted with the fact that cold-pressed juices & pulps are healthier and beneficial than conventionally-grinded fruit extracts. A recent study conducted by Persistence Market Research estimates that the global sales of cold-pressed juices in 2016 brought in about US$ 492 million in revenues. The study also predicts that by 2024, the global market for cold-pressed juices will have soared at 7% CAGR to be valued at US$ 845 million.

Pepsi Co., the beverage behemoth, partakes in the global market for cold-pressed juices by offering its flagship product line – the Naked Pressed juices. Along with Pepsi, several other New York-based companies are observed to be key players in the global cold-pressed juice market. These include, Liquiteria LLC., Evolution Fresh, Inc., Juice Press, Hain BluePrint, Inc., and Juice Generation. Additionally, global demands for cold-pressed juices are also being met by beverage makers such as Juice Warrior (UK), Presha Food (Australia), RAW Pressery (India) and Suja Life LLC (US).

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The report indicates that in 2017 and beyond, the global demand for cold-pressed juices will remain largely inclined towards their organic nature. Conventional nature of cold-pressed juices will gradually lose out to the surging popularity of organic cold-pressed juices. By accounting to nearly three-fourth of global revenues, the global sales of organic cold-pressed juices will have raked in revenues worth over US$ 630 million by the end of 2024. Based on the type of produce, more consumers are opting for cold-pressed juices derived from mixed fruits & vegetables. The combined nutrition availed from a mix of fruits & vegetables treads along global health trends that strongly impact the choice of consumers. In 2016, more than US$ 130 million worth of fruit-based cold-pressed juices were sold globally, while revenues from global sales of vegetable-based cold-pressed juices reached US$ 85 million. However, cold-pressed juices extracted from mixed fruits & vegetables will continue to account for major chunk of global revenues, procuring nearly half a billion dollars by the end of 2024.

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While retail stores are predominantly the largest distribution channels for cold-pressed juices, internet selling is also playing an instrumental role in boosting global sales. Through 2024, retail and grocery stores will account for around US$ 300 million in global revenues, but sales of cold-pressed juices will be the fastest through online e-tailing platforms. Global revenues harvested from selling cold-pressed juices over the internet will register a 7.4% CAGR. Hyper market or supermarkets will also be one of the dominant distribution channels for cold-pressed juices. Convenience stores, on the other hand, will lose a considerable share of global cold-pressed juices revenues over the forecast period.

Dressing Condiments Market to Rise at a CAGR of 2.1% by 2024

Over 60% of global condiments volume being consumed during the projection period will be accounted by vinaigrettes. Among theses, demand for emulsified vinaigrette condiments will account for sales of over 65,000 metric tons condiments by the end of 2024. However, global sales of condiments labelled as seasoning sauces will incur sluggish growth. The report further expects a majority of global condiments consumption being concentrated in European countries. In 2016, Europe accounted for sales of an estimated 60,818 metric tons of condiments. On the other hand, consumption of condiments is projected to drop in North America, while Asia-Pacific’s condiments consumption will reach surpass 27,000 metric tons by 2024-end.

Dressing vinegar and condiments are predominantly included in almost every kitchen in the world. Their importance in culinary preparations and food seasonings makes them some of the highly-consumed food ingredients in the world. However, manufacturing of dressing vinegar and condiments has been tainted by emergence of speculated production practices being carried out around the world. Consumers are being conscious regarding health prejudices emanating from contaminated raw materials used in production of vinegar. Following such factors, the global demand for dressing vinegar and condiments is expected to remain restrained from growing lucratively. Persistence Market Research recently conducted a study on global market for dressing vinegar and condiments which estimates that by end of 2024, an estimated 313,671 metric tons of dressing vinegar and condiments will be sold in the world.

According to Persistence Market Research’s report, titled “Dressing Vinegar & Condiments Market: Global Industry Analysis and Forecast, 2016-2024” –

In 2016, more than 115,000 metric tons of dressing vinegar were sold globally, while global consumption of condiments surpassed 125,000 metric tons in volume., By the end of 2024, around 147,694 metric tons of condiments are expected to be sold in the world, while global consumption of dressing vinegar is predicted to reach 165,977 metric tons., In terms of volume, global dressing vinegar market will soar at 4.7% CAGR, while global market for condiments will register a sluggish CAGR of 2.1%.

US-based manufacturers of dressing vinegar products and condiments are recognized as leading brands in the global market. Companies such as Fleischmann’s Vinegar Company, Inc., Annie’s Homegrown, Inc., BRIANNAS, Del Sol Food Co., Newmans Own Inc., and the Kraft Heinz Company are actively partaking in growth of global market for dressing vinegar and condiments. Besides, Puget, Cecil Vinegar Works, Mizkan Group, and Borges Branded Foods S.L.U are also prominent manufacturers of dressing vinegar and condiments profiled in the report. 

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The report projects that balsamic vinegar products will be widely-preferred by consumers in 2017 and beyond. Other types of dressing vinegar such as white wine vinegar, rice vinegar, garlic vinegar, sherry vinegar, cava vinegar and honey vinegar will witness marginal rise in their global demand. However, more than 130,000 metric tons of apple cider vinegar are anticipated to get sold by the end of 2024. Balsamic vinegar will continue accounting for one-third of global dressing vinegar revenues, while red wine vinegar is likely to be the second-most dominant type of dressing vinegar throughout the forecast period.

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A major portion of global demand for dressing vinegar products will keep arising from Europe. In 2017 and beyond, European countries will be accounting for at least one out of every two dressing vinegar products being sold globally. Consumption of dressing vinegar products will be the fastest in Asia-Pacific region, while North America will remain the third-largest regional market by the end of 2024.

 

Frozen Pastries Market : Supermarket to Rise US$ 1,299.1 Mn by 2024

Key players operating in the global market for frozen pastries include Gourmand, Delifrance, F.B.F. S.p.A, Wolf ButterBack, Lantmännen Unibake UK Limited, LBP (UK) Ltd, Le Bon Croissant, and La Danoiserie Corp.

The PMR report further delivers key insights on factors restraining the market growth such as quality challenges, the role of regulations, upcoming alternate products and effect of price fluctuations.

“Growing popularity of e-commerce and online retailing is expected to support the expansion of frozen pastries market globally. Moreover, frozen pastries offer the convenience of ready-to-eat pastry items in the comfort of home, which is further fueling their demand in the market.” – Persistence Market Research (PMR)

PMR examines the global frozen pastries market in its upcoming report titled, “Frozen pastries Market: Global Industry Analysis and Opportunity Assessment, 2016 – 2024”. The market is foreseen to expand at a compound annual growth rate of 5.9% in terms of value over 2024.

Report Highlights: Key Market Drivers

The impressive shelf life of frozen pastry products is playing a vital role in developing the supply-side for such products., The convenience offered by frozen pastries is pivotal to market growth based on demand-side., Frozen pastry products are proving to be much more economical for retail eatery chains and fast food restaurants. These products last longer than normal conventional pastry items, thus, restaurant owners bare fewer losses from spoilage and contaminations., Increasing demand for sugar-free frozen pastries is also expected to be a key factor in driving the overall market growth in the near future., Since freezing the pastries locks-in the product’s properties, it thereby prevents nutrient or texture loss for a prolonged duration.

Increasing demand for premium frozen pastry products has greatly influenced the popularity of specialty frozen pastries amongst consumers. Specialty frozen pastries are mostly handmade and are baked using premium quality ingredients.

Based on product type, the market is bifurcated into viennoiserie and Danish products.  Demand for viennoiserie type pastry products is expected to remain relatively higher than Danish type pastry products throughout the assessment period. In addition, the consumption of frozen pastries of both the types has grown to a significant extent in recent years, with plant and filled croissants products witnessing a considerable rise in demand.  Increasing demand for pastries worldwide is driving the frozen pastries market. The plain and filled croissant products are leading with maximum market share and are expected to grow further over the next couple of years. This is primarily attributed to the incessantly high consumption in Europe and their recent growth in popularity in new regional markets.

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Based on distribution channels, the hypermarket/supermarket segment occupies lion’s share of the market. In 2016, the segment was valued at around US$ 785.9 Million and is expected to increase at over 6% CAGR to reach US$ 1,299.1 Million by 2024-end. The development of in-store bakeries or bakeries within supermarkets/hypermarkets has emerged as a prominent growth factor for the market. Whereas, the artisan bakers is anticipated remain as the second largest segment of the market. The segment is particularly gaining traction in parts of Europe and North America.

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North America, Latin America and Asia Pacific are anticipated to witness the robust growth of the market between 2016 and 2024. Despite holding a relatively smaller market size, Asia Pacific is expected to gain substantial market share due to increasing demand from countries such as Australia, New Zealand (ANZ) and Japan. Since most of these products originated from several Western European countries, Europe is expected to command for nearly 62.3% revenue share of the market during the forecast period. Likewise, growing popularity of frozen pastry products in developing countries is expected to create a host of new opportunities for leading players in the market.

 

Citrus Oils Market : Orange oil will Rise US$ 2,649.5 Million by 2026

The global citrus oils market growth will be majorly influenced by the growing supply of citrus oils from developing regions due to the low cost of production. Moreover, the extensive demand for citrus flavors in food and beverage products in recent years is further propelling the market growth.

A study conducted by Persistence Market Research (PMR) identifies that the global market for citrus oils is set to reach US$ 4,353.8 Million by the end of 2026, riding on a modest CAGR of 4.9%.

Increasing demand for citrus oils for preparing therapeutic massage oils is projected to have a significant contribution to the overall development of citrus oils market. Based on application, the therapeutic massage oils segment is expected to account for the highest share of the market, reaching US$ 1,276.6 Million by the end of the assessment period (2016-2026). Cosmetics and personal care will continue to be the second largest segment of the market, capturing over 28% market share by the end of 2026.

“The growing prominence of aromatherapy is identified as a primary factor driving the global citrus oils market. Such therapies are applied in rejuvenating, relaxing and treating certain minor health disorders. Increasing popularity of aromatic oils and therapeutics is largely attributed to shifting preference for convenient, harmless, and natural alternatives over traditional allopathic solutions. Hence, higher consumer interest in aromatherapy is translating into great yields in citrus oils market”. – PMR

Based on oil type, the orange oil will remain as the predominant segment and is estimated to reach a market valuation of US$ 2,649.5 Million by the end of forecast period. Amongst other oil types, lemon oil is projected to witness a healthy growth, accounting for nearly 11% share of the market in term value over 2026.

As citrus oils find more application in the F&B sector, concerns over their preservation and quick perishable nature are limiting their use to a certain extent. The risk of citrus greening disease and increasing use of synthetic chemicals to preserve citrus oil products are seen as major market hindrances. In addition, low awareness in emerging countries is anticipated to further restrict the market growth during the forecast period.

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While North America will continue to hold the top spot, the markets in Latin America and Asia Pacific will register exponential gains. In 2015, Asia Pacific accounted for 14.1% market share and is expected to gain 60 BPS to capture 14.6% market share by 2026. In terms of volume, Asia Pacific is expected to register a strong CAGR during the forecast period. Whereas, Latin America is expected to account for of 9.0% share of the market by end of the assessment period.

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The PMR report delivers key insights on some of the top players competing in the global citrus oil market. Few these players include Symrise AG, Lionel Hitchen (Essential Oils) Ltd, Bontoux S.A.S., Citrus and Allied Essences Ltd., Young Living Essential Oils LC, Citrus Oleo, Mountain Rose Herbs, Inc., doTERRA International, LLC., Citrosuco Paulista SA, and Citromax S.A.C.I.