Luggage Market to Grow at CAGR Of 8.1% By 2016

What’s the most important thing while travelling and without it you would feel very incomplete? It’s definitely your luggage. The one thing that goes synonyms with travelling is luggage.  Women specially are said to be the one who carry excess bags and baggage while on the move. If you’re going for a day or months, to a hot or cold climate luggage is a must have.  From toiletries, clothes travel necessities, eateries and while returning from the trip, souvenirs. Carrying a luggage was there in our culture for a very long time. If history is to be believed the first luggage roller was introduced in Palestine to carry weapons and equipments. Then the idea gradually changed from carrying weapon to day to day necessities.

Luggage often referred as baggage or a suitcase was before a mere necessity. Early luggage would be a trunk or a box shaped bag which would be heavy and less travel friendly. But now consumers want a sleek, new and edgy look to their luggage and have become more of a style statement than a necessity. This has kept the luggage market on their toes. From introducing trolley bags to compact size luggage there is a generous use of technology to craft something new and better every time.

The competition is very stiff and the luggage market is one of the fastest growing industries. A market research report states that the global Luggage market is set to grow at a Compound annual growth rate (CAGR) of 8.1% in the next 4 years. Now-a-days people are mostly globe-trotting; this ensures that the luggage market is having a smooth sail.

Women and Beauty Products: Best Friends Forever

One thing that most of the fairy tales had in common was the obsession of beauty of the women characters. Be it Cinderella’s wicked step sisters or Snow white’s evil stepmother, their story happened in the first place because of their mesmerizing beauty. So it can be easily concluded that it’s not our fault that women are crazy about beauty products as they have it in their GENES!

According to historians, one of the first beauty products was during The Ancient Egypt time where they used sandalwood, perfume and aromatherapy products for pilgrims like an antiseptic. In the early 19th century, only the actors were allowed to wear makeup. But only after World War II that people were allowed to use beauty products in the west. Cosmetic Industry or Beauty care industry are companies that manufacture or make personal products such as cream, lotions, perfumes or makeup, skin care, fragrances, hair care etc.

A market research report states some staggering facts. On an average, women above 18 years spend  $144 a year on beauty products . The beauty products industry is estimated to grow annually by 8.5% till the year 2014. This shouldn’t be surprising as an average woman spends at least 20 minutes to get ready.

We love Beauty products:

Women, irrespective of what age always has a soft corner for beauty products. This was proven during economic slowdown, only 45% woman cut back on their beauty spending. “The lipstick effect” is the best example of beauty products during an economic slowdown, Women didn’t cut down on their purchases instead they indulged in cheaper products .This industry has seen a consistent growth since a long time. It’s a known fact that women are crazy about beauty products but that isn’t the only factor, there are several factors that accelerate the demand in the market.

• Easy availability of International brands in the store is increasing the demand for luxury perfumes and brands.

• Globally, rising per capita incomes and higher spending powers.

• Men also becoming more conscious of their looks and hence they too adding to the demand.
• An aggressive promotional strategies used to market the products.
• High Profile celebrities promoting the brands which results in their fans purchasing the products.
• Tech Savvy consumers using online shopping methods to purchase exclusive products.
• Majority of famous brands has smaller versions of their products that don’t allow people to return empty handed.
• Free sample and discounts offered by brands to lure customers.
• Advancement of technology that helps them to bring new and better products in the market.

Women have always been very coy about their spending on beauty products. Some of the best brands in the market right now are MAC, Proctor Gamble, L’Oreal, Dove, Channel, and Lancôme Etc. The beauty product market has evolved with time. This constant change has not only bought better and new products in the market but also increases their foothold in the market.

Indian Dairy Market on a Roll

The dairy market in India is a most sought after market. Even if there are a lot of FMCG products in India, Diary market has always proved to be in constant demand. The dairy industry has been climbing the stairs of progress since Indian Independence. India is the world’s largest milk producing country. The dairy industry has grown from 17 million tonnes to 121 million tonnes from 1951-2011.The sole reason that attributes the progress is the structural change in the Indian Diary Industry which was bought by the arrival of dairy cooperatives.

According to a market research report, the Indian dairy products market has been predicted to rise at a compound annual growth rate (CAGR) of 5% through to 2017.

What’s pushing the demand?

Dairy Industry plays a pivotal role in the social economic development of India. It generates rural employment and also provides nutritious food to large population. Initially, the dairy market was dominated by the unorganized sector but slowly there is a growth in organized sector also.

There are several factors that enable the sector to grow:

• Rapid urbanization that leads to the busy lifestyle and therefore creates a demand for packaged food products.
• Higher disposable income that helps in generating higher spending power of consumers.
• Aggressive marketing and promotion campaigns.
• The crossbreed technology used by the Indian Diary Industry has accelerated the possibility of the dairy units by increasing the milk production per animal.

The majority of the delicacies is prepared by using milk or milk products. This signifies the demand for the dairy products in the market.

Mirrors Don’t Lie: Cosmetic Surgery in Demand

Who doesn’t want to look perfect? And if you don’t have it naturally, take the help of your doctor. Going under the knife was once considered a taboo. There was always a hush-hush talk about it. But things have changed and so has the mindset, people are now more comfortable in accepting their flaws and making the necessary correction. Cosmetic surgery is a voluntary medical procedure that is performed on usual body parts with the sole purpose of correction or removing any signs of aging. Cosmetic or aesthetic surgery is a slight alteration of a body part which one is unhappy about. It doesn’t necessarily involve plastic surgery as it could also be done through laser or non surgical. Some popular kinds of cosmetic surgery include Blepharoplasty, rhinoplasty, and rhytidoplasty.

Cosmetic surgery is one of the few types of medical care for which patients are ready to spend whatever amount from their pockets. The exorbitant fees for the surgery are willingly paid by the patients. And the country that tops the highest use of this surgery is America. The U.S. market for cosmetic surgery, facial aesthetics and medical laser devices were valued over $3 billion in 2012, an increase of almost 10% from the previous year. This segment of medical care was unaffected during an economic slowdown. A market research survey estimated that, the US cosmetic surgery market will hit a value of US$17.57 billion by 2015.

From Ugly Duckling to Beauty Queen:

The desire to look good gives minimum contribution for the growth of cosmetic industry. There are other factors that are driving and continuing to fuel the growth of the market.

• The growth in the market is driven by the social acceptance of the surgeries. Earlier it was the celebrities who would get it done. But now even teenagers and men have joined the bandwagon.
• The growth of the augmentation and reconstructive implant market.
• Mainstream media influence is also responsible for accelerating the growth. It has changed the perception of appearance and beauty on other factors like aging population and obesity.
• Availability of new products and procedures.
• The high degree of competition at workplace.
• Innovations of injectable fillers which recover quickly and are easy on the pocket.
• Direct marketing and advertising campaigns causing awareness amongst people.

The cosmetic surgery is ‘The In thing’ right now. From teenagers, men and celebrities everyone’s lining the doctor’s clinic for image correction and beautification. 

Refrigeration Appliance Industry to Freeze the CAGR at 11% by 2018

The correct use of a refrigeration appliance is most wisely done by the food service industry or hotels or restaurants. Restaurant owners purchase things in bulk so efficient refrigeration is required by them in order to store the food items and ingredients safely at a favorable temperature. Commercial refrigerating appliances are necessary for the food industry as without them it will be impossible to store the food items in large quantities. There are different types of designs and models available for the refrigerating appliances in the market, and it becomes quite confusing for the consumer to choose amongst them.

The need for a commercial refrigerator depends upon the size of the business, its functionality, space limitation, storage requirements, increasing international food trade, growth in horticulture, cropping up of fast food chains and supermarket and the budget of the company. According to a global market report, the refrigeration sector used for transportation is predicted to achieve a  revenue of 10.2 billion dollars  by the year 2018 with attaining a compound annual growth (CAGR) of 11.1 percent. Presently, the food service segment contributes the highest revenue of 9.3 billion dollars which will attain a figure of 16.1 billion dollars by the year 2018. Approximately a CAGR of about 9.8 percent will be recorded by the year 2018 in the beverage, food and distribution market which needs refrigeration appliances. Universally the refrigeration equipment market is estimated to reach 40.6 billion dollars by the year 2018 with a CAGR of 8.2 percent.

Glamorous Kitchenware Industry to Soar

An Indian woman is very much possessive about her kitchen and most of the time spent by her is in the kitchen preparing all sorts of tasty dishes. Kitchenware refers to all appliances, bakeware, utensils, cutlery, cookware, dishes and so on which are used in the kitchen. In India, kitchenware market is entirely motivated by its functional requirements and there is an  enormous scope for market development. Health conscious people are very pleased to have products like non-stick cookware and anodised cookware which seals the base metal from getting into the food and uses a very negligent amount of oil for cooking. For eating purposes also these mindful healthy people opt for cutlery made up of glass, ceramic etc.

A market survey report shows that the cookware market for aluminium and non-stick utensils increased by 60 percent in the United Kingdom but in India it is likely to grow steadily. Kitchenware industry in India grows annually at a rate of 40%. A kitchen hood has become popular and is required while cooking food to avoid smoke and the pungent fragrance of the spices. The revenues generated by the kitchen hood market in India  goes up to a compound annual growth rate (CAGR) of 9.9 percent achieving an amount of US dollar 183.3 million by the year 2017. Over the last few years, Indian pressure cooker market is proposed to be between Rs 1300 to Rs 1400 crore and the CAGR shows a 10% hike.

In the coming years kitchenware market will show remarkable growth because of the increase in the standards of living which changes the way of looking at our kitchens, keeping an eye on the ecological concern, attractive models yet useful kitchenwares. Modular kitchens attaches a feel of glamour to your kitchen interiors.

Detergent Market Shows a Growing Trend of 8-10% per Year

Detergents are chemicals used in diluted form which have cleansing nature. There are different categories of detergents such as housing detergents used for household cleaning (washing clothes, toilet soap etc.), industrial detergents formulated for industries, synthetic detergents (bars, powder and liquids) and biological reagent for sanitization of proteins found in living cells.

The utilization of detergents in India is on the higher side with 2.7 kilos per annum as compared to the countries like Thailand, Indonesia and China it is approx 2 kilos per annum. It is predicted that, the Indian detergent market will expand in terms of volume by 7 to 9 percent. The growth in the textile industry and the consumer awareness increased the usage of detergent and soaps with a record of 8 to 10 percent per year. The synthetic detergent market is divided into three sectors; premium like surf and Ariel; mid price like Rin and Wheel; and popular segments like Nirma which reports for about 15 percent, 40 percent and 45 percent respectively of the total industry. The concept of low cost detergents was created by Nirma.

The introduction of improved products like Comfort fabric conditioner, Rin liquid blues etc. in the laundry market is following the market trend for creating a new post wash section. Liquid detergent wheels over 20 percent in the South East Asia, making the market extremely dynamic by replacing the existing one. Household and industrial detergents show a fast growth in Asia Pacific over the United States and Middle East because of the rise in the demand and expanding markets.