Methanol

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methanol fuel
Methanol is a toxic, colorless, flammable liquid. It used to be called wood alcohol because it’s a byproduct of the destructive distillation of wood, a process by which wood is heated to a high temperature in the absence of oxygen in order to extract various chemicals. Now it’s made using natural gas in a catalytic industrial process. Methanol can also be made from coal, biomass, landfill gas and power plant or industrial emissions. Methanol has been one of the most widely used industrial chemicals since the 1800s.

Today’s market size shows methanol revenues for 2018, 2020 and 2027.1 Data for 2027 is projected. According to the Methanol Institute, global demand for methanol increased at a compound annual growth rate of 5.9% from 2014 to 2019. Production takes place on 5 continents and in the Middle East. There are 90 plants with a combined production capacity of 110 million metric tons worldwide. Forty percent of the methanol consumed is used for emerging energy applications and about 33% is used in the production of formaldehyde. Formaldehyde is used in the production of resins, glues and various plastics. It’s also used to produce acetic acid which is used in the production of polyester fibers and PET plastics. The newest and growing use for methanol is in the production of light olefins ethylene and propylene. Ethylene is used in the production of packaging and nonpackaging film, PET plastics, PVC and polystyrene. Propylene is used as an alternative to propane and as a fuel gas in the chemical and plastics industries. Most methanol to light olefin production is done in China.

Emerging energy applications for methanol include automobile fuel, marine fuel, DME, biodiesel, fuel cells, electricity and boilers and cookstoves.2 China leads the world in using methanol as an automotive fuel. Currently, a majority of passenger cars in China are fueled by M15, a blend of 85% gasoline and 15% methanol. Since 2012 China has been participating in a pilot program to study the efficacy of using 100% methanol. In the last few years, 470,000 buses, trucks and taxis have been converted to run on either 100% methanol (M100) or a blend of 85% methanol and 15% gasoline (M85). In March 2019, China issued a policy paper encouraging the broad adoption of M100 as a vehicle fuel. Australia, Egypt, Iceland, and Israel also have programs testing the viability of using methanol as a transportation fuel. The United States researched using methanol as fuel in the 1980s and 1990s. Ford, GM, and Chrysler produced methanol-fueled versions of popular car models and sold them at the same price as gasoline-powered models. By 1997 there were 15,000 methanol-fueled vehicles on the road with 100 fueling stations in California alone. But, once the price of gasoline dropped below the price of methanol, the automakers stopped producing methanol-fueled vehicles. Despite this, with more than 200 million miles driven, methanol-fueled vehicles proved to be a viable alternative to gasoline-powered vehicles.

Why methanol? Renewable methanol, made from agricultural waste, forestry residues, municipal solid waste, and carbon dioxide from industrial exhaust, lowers carbon emissions by 65-95% when compared to fossil fuels. According to the Danish Department of Energy, carbon dioxide emissions from methanol on a well-to-wheel basis are the lowest of all alternative fuels, including battery-electric. Carbon dioxide emissions totaled 176g/km for gasoline engines, 178g/km for hydrogen, 142g/km for hybrid engines, 132g/km for diesel, 98g/km for battery-electric, and 83g/km for methanol. Renewable methanol fuel also has lower emissions of nitrogen oxides and volatile organic compounds and contains no benzene, toluene, ethylbenzene, and xylene. These last four cancer-causing chemicals in gasoline emissions do not biodegrade easily and can contaminate groundwater. And, while methanol emissions do contain toxic formaldehyde, if a heated catalytic converter is used, the levels meet or exceed California’s strict Ultra Low Emission Vehicle emission targets. With ground transportation accounting for close to 73% of all transportation greenhouse gas emissions in Europe alone in 2015, widespread adoption of methanol-fueled vehicles can have a dramatic effect on lowering carbon emissions and reducing the effects of climate change.

In 2019, three regions of the world accounted for approximately 75% of methanol consumption globally. More than half of global consumption was in China, followed by Eastern Europe and the United States. The industry is fragmented with the top 10 companies having less than 30% of global capacity. The leading producer of methanol is Methanex. Other top companies include SABIC, Celanese Corp., Eastman Chemical Co., BASF SE, and Atlantic Methanol among others. Methanex, SABIC, QAFAC, and GPIC produce low carbon methanol. BASF, BioMCN, Enerkem, New Fuel, and Nordic Green produce bio-methanol. Renewable methanol is produced by Carbon Recycling International and Innogy. More than 30 companies are involved in the research and development of low carbon methanol, bio-methanol, and renewable methanol.

1 Source for 2018 and 2027 data: “The Global Methanol Market to Garner $56,151 Million by 2027,” AB Newswire Press Release, March 17, 2020 available online here. Source for 2020 data: “Global Methanol Market 2020 : Industry Outlook, Top Countries Data, Comprehensive Insights, Growth and Forecast 2026,” MarketWatch Press Release, February 5, 2020 available online here.
2 DME stands for dimethyl ether. It’s used as a replacement for propane in liquid petroleum gas and can be used as a replacement for diesel fuel in transportation.

Geographic reference: World
Year: 2018, 2020 and 2027
Market size: $34.5 billion, $36.85 billion and $56.2 billion, respectively
Sources: “The Global Methanol Market to Garner $56,151 Million by 2027,” AB Newswire Press Release, March 17, 2020 available online here; “Global Methanol Market 2020 : Industry Outlook, Top Countries Data, Comprehensive Insights, Growth and Forecast 2026,” MarketWatch Press Release, February 5, 2020 available online here; “Energy,” Methanol Institute available online here; “The Methanol Industry,” Methanol Institute available online here; Tammy Klein, Methanol: A Future-Proof Fuel, Methanol Institute, February 2020 available online here; “The Chemical,” Methanol Institute available online here; “Methanol,” Chemical Economics Handbook, December 2019, IHS Markit press release available online here; Renewable Methanol Report, ATA Markets Intelligence S.L. on behalf of the Methanol Institute, December 2018 available online here; “Methanol Fuel in the Environment,” Methanol Fuels available online here; “Ethylene Uses and Market Data,” Independent Commodity Intelligence Services, December 9, 2010 available online here; “Methanol Market Size, Share, Demand, Trends, Industry Analysis, Statistics Worldwide 2026 | BASF SE, SABIC, Eastman,” MarketWatch Press Release, March 5, 2020 available online here; “Propylene,” Industrial Gases available online here.
Image source: Paul Brennan, “pumping-gas-fuel-pump-industry-gas-1631634,” Pixabay, August 31, 2016 available online here.

Smart Pills

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We have smartphones, smart speakers and even smart homes. Why not smart pills?

Those of us of a certain age remember the Jetsons Peek-a-Boo Prober Capsules. A form of this went from science fiction to reality in 2014 when the U.S. Food and Drug Administration (FDA) approved the PillCam. It’s a pill-sized camera that the patient swallows. It makes its way through the digestive system in about 8 hours taking pictures. The data is then sent to a receiver the patient wears around his or her waist. Later, a doctor can review the results. This type of pill is meant to be an alternative to a colonoscopy or endoscopy.

Another type of smart pill has an indigestible sensor built into the pill that monitors when a patient takes a dose. The sensor is activated when it comes in contact with stomach fluid. It sends a message to a wearable patch which in turn sends a message to an app on a patient’s smartphone. If the patient allows, the information can be sent to the patient’s doctor. Smart pills of this sort are created with the purpose of making it easier for patients to remember to take their medications and to let doctors know if their patients are complying.

In the United States, up to 50% of people do not take their medication as prescribed. In developing countries, adherence is even less. Medication nonadherence can account for up to 50% of treatment failures. According to the Office of the United States Inspector General, 125,000 deaths from cardiovascular diseases such as heart attack and stroke are caused by nonadherence to long-term drug therapies. Also, up to 23% of admissions to nursing homes, 10% of hospital admissions and many doctors’ visits, diagnostic tests and treatments are due to nonadherence. An estimated $100 to $300 billion in healthcare costs can be saved annually if medication adherence rates were higher. “Adherence rates of 80% or more are needed for optimal therapeutic efficacy.”1

In November 2017 the FDA approved the first drug with a digital ingestion tracking system, Abilify MyCite, a medication used to treat bipolar disorder and schizophrenia. Those who have schizophrenia have one of the highest medication noncompliance rates on average. However, some argue that suggesting people with schizophrenia swallow a digital pill that will send signals outside their body will only worsen their condition, especially for those who already experience paranoia or persistent feelings about being watched or persecuted. Others like Mitchell Mathis, M.D., director of the Division of Psychiatry Products in the FDA’s Center for Drug Evaluation and Research state: “Being able to track ingestion of medications prescribed for mental illness may be useful for some patients.” Regardless, according to the FDA, “Abilify MyCite’s prescribing information notes that the ability of the product to improve patient compliance with their treatment regimen has not been shown. Abilify MyCite should not be used to track drug ingestion in ‘real-time’ or during an emergency because detection may be delayed or may not occur.” Abilify MyCite retails for, in some cases, twice the amount of the generic, non-digital equivalent.

Since the advent of this drug, smart pills have been designed for conditions such as uncontrolled hypertension, type-2 diabetes, and more recently cancer. According to a research study by Proteus Digital Health, the manufacturer of the drugs, those taking smart pills for uncontrolled hypertension and type 2 diabetes had better results when compared to people taking standard therapies.

Today’s market size shows the global smart pill revenue figures for 2016, 2018 and projected for 2025. As of 2016, more than 75% of smart pill revenue came from capsule endoscopy versus less than 25% for drug delivery. North America led the world in the share of smart pill revenue with 57.1%. North America is expected to continue its lead into the future due to technological advances in the healthcare sector, increases in the incidence of colorectal cancer and regulatory approval of new products. Major companies include Medtronic PLC; Proteus Digital Health; CapsoVision, Inc.; Olympus Corporation; and Medisafe. In December 2019, etectRx received FDA approval for its ID-Capsule system to compete with Proteus’s system. etectRx’s system has a lanyard rather than a wearable patch.

1 Source: Jennifer Kim, et. al., “Medication Adherence: The Elephant in the Room,” U.S. Pharmacist, January 19, 2018 available online here

Geographic reference: World
Year: 2016, 2018 and 2025
Market size: $779.4 million, $850 million and $1.5 billion, respectively
Sources: “Smart Pills Market Analysis by Application (Products [Capsule Endoscopy, Drug Delivery], Tools, and Patient Monitoring Software), by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), and Segment Forecasts, 2018 – 2025,” Grand View Research Report Summary, December 2017 available online here; “Smart Pills Market by Component (Smart Pills and Workstations), by Application (Imaging and Monitoring), and by End-User (Hospitals, Clinics, Research Institutes, and Home Healthcare): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025,” Zion Market Research, June 7, 2019 available online here; Matt Novak, “George Jetson Gets a Check-Up,” Smithsonian Magazine, January 2, 2013 available online here; “The FDA Approved a PillCam the Jetsons Predicted 50 Years Ago,” Paleofuture, February 7, 2014 available online here; Adherence to Long-Term Therapies, World Health Organization, 2003 available online here; Jennifer Kim, et. al., “Medication Adherence: The Elephant in the Room,” U.S. Pharmacist, January 19, 2018 available online here; Michael Rucker, “Digital Pills are Coming to Health Care,” Verywell Health, December 6, 2019 available online here; “FDA Approves Pill with Sensor That Digitally Tracks If Patients Have Ingested Their Medication,” FDA News Release, November 13, 2017 available online here; Erin Brodwin, “A Silicon Valley Company Just Launched ‘Smart’ Cancer Pills That Track You With Tiny Sensors Stamped Into Your Medication,” Business Insider, January 19, 2019 available online here; Sam Draper, “How Smart Pills Could Revolutionize Healthcare,” Wearable Technologies, May 23, 2018 available online here; Elise Reuter, “New ‘Smart Pill’ Maker Gains FDA Approval,” MedCity News, December 9, 2019 available online here; Richard Staines, “FDA Approves etectRx ‘digital pill’ as Rivals Struggle,” Pharmaphorum, December 10, 2019 available online here; “Abilify,” GoodRx available online here; Christina Farr, “Digital Health Start-Up Once Worth $1.5 Billion is Racing to Keep Lights on as Investors Flee,” CNBC, December 8, 2019 available online here.
Image source: Steve Buissinne, “medicine-pills-prescription-4097308,” PIxabay, April 2, 2019 available online here. Picture does not show smart pills. Image is used for illustration purposes only. See the picture in the MedCity News source for a picture of one type of smart pill.

Women-Owned Businesses

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Women-owned businesses
On March 8 we celebrate International Women’s Day. A day to bring awareness to gender inequality and injustice across the globe and to inspire people to take action to bring about change. This year, 2020, marks the 25th anniversary of the adoption by 189 United Nations Member States of the Beijing Declaration and Platform for Action. This document presents a way forward toward gender equality not only in the late 20th-century but in the 21st century as well. As Ban Ki-Moon, former Secretary-General of the United Nations, wrote in the Forward of the 20th Anniversary Edition of this document: “When we empower women and girls, we realize a better future for all.”

The Beijing Declaration states: “We are determined to … promote women’s economic independence, including employment, and eradicate the increasing burden of poverty on women…” Two ways to do this are to encourage entrepreneurship and support women-owned businesses.1 Globally in 2018, 252 million women were entrepreneurs, with another 153 million women operating established businesses.

Worldwide for every 10 male entrepreneurs, there are 7 female entrepreneurs. Only 6 countries in the world have equal rates of entrepreneurship among men and women: Indonesia, Thailand, Panama, Qatar, Madagascar, and Angola. The countries with the highest percentage of female entrepreneurs include Angola (40.7% of the adult female population are entrepreneurs), Guatemala (24.5%), Chile (21.2%), Madagascar (21.1%), Peru (20.9%), Thailand (19.3%), Colombia (17.8%), Lebanon (17.4%), Brazil (17.3%), and Sudan (17.1%). Where does the United States rank? 14th, with 13.6% of the adult female population being entrepreneurs.

Why did women establish their businesses? Did they seize opportunities given to them or did they start their businesses out of necessity? In almost all of these countries, a majority of women saw an opportunity to start a business and took it. Only in Angola did more women start businesses out of necessity rather than after an opportunity presented itself, 49.5% versus 47.2%, respectively.

Today’s market size shows the number of women-owned businesses in the United States in 2007, 2012, 2017 and 2019. Data for 2017 and 2019 are projections based on the 2012 Survey of Business Owners from the U.S. Census Bureau and adjusted using the gross domestic product figures for January of that year. Over this time period, the number of women-owned businesses grew by 66.1%. In 2007, 28.8% of businesses in the United States were owned by women; in 2019, 42% were. Revenues increased 54.6%, from $1.2 trillion to $1.85 trillion. While most women-owned businesses have no employees—in 2012, this amounted to about 90%—the number of people employed by those that do increased 24% from 7.5 million in 2007 to 9.4 million in 2019.

Half of all women-owned businesses fall into three industries: other services; healthcare and social assistance; and professional, scientific, and technical services. “Other services” includes hair and nail salons and petcare businesses. Women who start these types of businesses tend to do so out of necessity or a need for a job with flexible hours. “Healthcare and social assistance” includes child daycare and home healthcare. “Professional, scientific, and technical services” includes lawyers, bookkeepers, architects, public relations firms and consultants.

The top 10 fastest-growing women-owned companies in the United States are Not Ordinary Media (revenue of $21.4 million in 2018), nutpods ($19.1 million), Kindred Bravely ($9.6 million), SD3IT ($11.9 million), Skinny Dipped ($10.2 million), TalEx ($48.5 million), TrueChoicePack ($7.8 million), 4th & Heart ($14.3 million), Core Software Technologies ($4.6 million) and WT Stevens Construction ($7.2 million). Not Ordinary Media ranked number 10 on the 2019 Inc. 5000 list with a growth rate of 11,996% from 2015 to 2018. The Inc. 5000 is a list of the fastest-growing privately held companies in the United States.

1 Women-owned businesses are businesses that are at least 51% owned, operated and controlled by one or more women.

Geographic reference: United States
Year: 2007, 2012, 2017 and 2019
Market size: 7.8 million, 9.9 million, 11.6 million and 12.9 million respectively.
Sources: “Statistics for All U.S. Firms by Number of Owners by Industry, Gender, Ethnicity, Race, and Veteran Status for the U.S.: 2007,” 2007 Survey of Business Owners, U.S. Census Bureau, December 15, 2015 available online here; “Statistics for All U.S. Firms by Number of Owners by Industry, Gender, Ethnicity, Race, and Veteran Status for the U.S.: 2012,” 2012 Survey of Business Owners, U.S. Census Bureau, February 23, 2016 available online here; Beijing Declaration and Platform for Action, United Nations, 1995, reprinted by UN Women in 2014 available online here; Global Entrepreneurship Monitor 2018/2019 Global Report, Global Entrepreneurship Research Association, January 21, 2019 available online here; “More Than 250M Women Worldwide Are Entrepreneurs, According to the Global Entrepreneurship Monitor Women’s Report from Babson College and Smith College,” CISION PR Newswire, November 18, 2019 available online here; Brit Morse, “These Are the 20 Fastest-Growing Female-Founded Companies in 2019,” Inc., September 19, 2019 available online here; The 2017 State of Women-Owned Business Report, American Express, 2017 available online here; The 2019 State of Women-Owned Business Report, American Express, 2019 available online here; “Women-Owned Businesses,” U.S. Census Bureau available online here.
Image source: Christin Hume, “Workspace Wonder Woman,” Unsplash, July 12, 2017 available online here

Podcasts

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A podcast is an episodic audio program made available in digital format for downloading or streaming over the internet. The word podcast itself is an amalgamation of the “pod” in iPod and the “cast” in broadcast. Podcasts were first offered on Apple iTunes, for download on an iPod, in 2004. Then, more than 3,000 free podcasts were offered. The number of choices has grown considerably and continues to grow due to the low cost of entry into the medium. In the first 10 months of 2019 alone, 192,000 podcasts were launched. Today’s market size shows the number of podcasts worldwide in January 2020 and the number of episodes available for download.1 Podcast content can be heard in 155 countries and in more than 100 languages.

Along with the number of choices, the percentage of the U.S. population that is familiar with podcasting rose from 22% in 2006 to 70% in 2019.2 According to Edison Research and Triton Digital, 2019 was the first year that a majority of the U.S. population, 51% or an estimated 144 million people, reported ever listening to a podcast. Monthly listeners totaled 90 million while weekly listeners amounted to 62 million, or 22% of the population. This is more than triple the 7% of weekly listeners reported in 2013.3

Why do people listen to podcasts? Top reasons include: to learn new things, to be entertained, and to stay up-to-date with the latest topics. But many forms of media allow a person to do those things. Why podcasts? Listeners report that they like that they can do other things while listening, podcasts are portable, and they can listen wherever they are.

The potential of earning money from advertising motivates many to develop a podcast. Podcast advertising revenue in 2019 was expected to reach $679 million and is projected to climb to $863 million in 2020 and more than $1 billion in 2021. Popular podcasts charge between $10 and $50 for every thousand listeners, which is two or three times more expensive than the rate for broadcast radio. Do podcast advertisements work? Fifty-four percent of listeners surveyed reported that they were more likely or much more likely to consider brands advertised on podcasts. Only 7% of listeners reported that they were less likely or much less likely to consider brands advertised on that platform. The other 39% were neutral. Some large, well-known companies sponsor podcasts; others are producing their own.

Some podcasting apps and media companies such as Stitcher Premium, Luminary, and Slate Plus (affiliated with Slate Magazine) offer a small number of podcasts and exclusive content for a monthly fee. Heavy podcast users, those that listen 6 or more hours a week, and new listeners are more likely to pay for content.

Top podcast publishers by number of unique listeners in the United States for January 2020 include NPR (23.7 million unique listeners), iHeartRadio (21.9 million), Wondery (10.2 million), PRX (9.32 million), and The New York Times (9.26 million). Top podcasts: The Daily (published by The New York Times), NPR News Now (NPR), Up First (NPR), Stuff You Should Know (iHeartRadio), and The Ben Shapiro Show (Daily Wire). The most popular apps for downloading and streaming podcasts are Apple Podcasts, Spotify, Stitcher, SoundCloud and Google Podcasts.

1 The reported number of podcasts and episodes available vary by source. A November 2019 Forbes article noted: “There are now over 800,000 active podcasts with over 54 million podcast episodes currently available worldwide.”
2 U.S. population 12 years of age and older.
3 2013 was the first year for which there are data.

Geographic reference: World
Year: 2020
Market size: More than 850,000 (More than 30 million episodes)
Sources: Ross Winn, “2020 Podcast Stats & Facts (New Research from Jan 2020),” Podcast Insights, February 7, 2020 available online here; Brad Adgate, “Podcasting is Going Mainstream,” Forbes, November 18, 2019 available online here; Melissa Locker, “Apple’s Podcasts Just Topped 50 Billion All-Time Downloads and Streams,” Fast Company, April 25, 2018 available online here; The Infinite Dial 2019, Edison Research and Triton Digital, 2019 available online here; Brad Hill, “Edison/Triton: ‘Consequential Year’ for Podcasting in New Podcast Consumer Report,” Kurt Hanson’s Radio & Internet News, April 11, 2019 available online here; “Top Publishers,” Podtrac available online here; “Top Podcasts,” Podtrac available online here; Mia Breunissen, “27 Most Popular Podcast Apps,” We Edit Podcasts, June 19, 2019 available online here.
Image source: Jonathan Farber, “Podcasting Setup With Headphones, Desk and Professional Microphone,” Unsplash, September 4, 2019 available online here.

Aramid Fiber

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Aramid fibers - Firefighter's Jacket

What do bulletproof vests, firefighters’ jackets and electrical insulation have in common? They are all made with aramid fiber. Aramid fiber is so named because it is made up of aromatic polyamides. There are two types: meta-aramid fiber and para-aramid fiber. 

Meta-aramid fiber was invented in the 1960s by DuPont. The fiber is similar to normal textile fiber but is heat and flame resistant. It is also resistant to abrasion and organic solvents. Some uses for meta-aramid fiber are protective clothing for firefighters, military personnel and auto racers; electrical insulation; and as a substitute for asbestos in friction and sealing products. Three brands are Nomex, New Star, and Teijinconex.

Para-aramid fiber was developed in the 1960s and 1970s by DuPont and Akzo Nobel. This fiber is lightweight, stiff, and has greater strength than meta-aramid fiber. However, it degrades when exposed to alkalies, acids, and bleaches. Some uses for para-aramid fiber include bulletproof body armor, helicopter rotor blades, and wing assemblies. Fibracell woodwind reeds are also made using para-aramid fiber. Kevlar and Twaron are two brands.

Today’s market size shows worldwide aramid fiber revenues for 2019 and projected for 2027. Para-aramid fiber claimed 75.6% of revenues in 2019. Revenues for this segment of the market are expected to grow at a compounded annual growth rate of 8.1% from 2020 to 2027. The growing need for security and protection in the military and in the mining, healthcare, oil and gas, and building construction industries is expected to fuel growth for aramid fiber over this time period. In 2019, security and protection applications claimed the highest market share, followed by frictional materials, optical fibers, and rubber reinforcement. Together these applications constituted more than three-quarters of the market. Besides DuPont de Nemours Inc. and Akzo Nobel N.V., some companies that produce aramid fiber include Teijin Aramid, Toray Industries Inc., Yantai Tayho Advanced Materials Co. Ltd., SBO Group Ltd., and Kermel Inc.

Geographic reference: World
Year: 2019 and 2027
Market size: $3.6 billion and $6.8 billion, respectively
Sources: “Aramid Fiber Market Size, Share & Trends Analysis Report by Product, by Application (Security & Protection, Tire Reinforcement, Optical Fibers, Rubber Reinforcement, Aerospace), by Region, and Segment Forecasts, 2020 – 2027,” Grand View Research Report Summary, February 2020 available online here; “Aramid Fiber Market Size Worth $6.8 Billion by 2027 | CAGR: 8.2%: Grand View Research, Inc.,” CISION PR Newswire, February 20, 2020 available online here; “Aramid,” Wikipedia, January 5, 2020 available online here; “Aramid Fiber,” Conservation and Art Materials Encyclopedia Online, November 26, 2019 available online here; “The Great Reed Debate,” The Polydelphia Conservatory available online here.
Image source: ciobanucatalina, “firefighter-fireman-fire-4011614,” Pixabay, February 21, 2019 available online here.

Anti-Fatigue Cosmetics

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anti-fatigue cosmetics

Working long hours, staying up late with a sick child, binge-watching a favorite TV show until the wee hours of the morning, late-night partying or insomnia due to stress and worry. There are many reasons people don’t get enough sleep. The National Sleep Foundation recommends adults get between 7 and 9 hours of sleep a night. According to the National Health Interview Study in 2018, 35.6% of adults in the U.S. regularly get 7 hours or less of sleep a night, that’s up from 30.9% in 2010. Worldwide, 51% of adults report getting less sleep than they need on an average night with 80% using the weekend to catch up on their sleep. 

Besides causing tiredness, nervousness, irritability, and cognitive impairment, chronic sleep deprivation increases a person’s risk of 7 of the 15 leading causes of death in the United States, including cardiovascular disease, cancerous tumors, cerebrovascular disease, accidents, diabetes, septicemia, and hypertension. 

In addition, sleep deprivation affects the largest organ of the body: the skin. Lack of sleep leads to high cortisol levels which in turn interfere with how the skin regenerates and heals itself. Continuously high cortisol levels also lead to lower levels of human growth hormone and a breakdown in collagen and elastic tissue. Together this leads to thinning skin and fine lines and wrinkles. When a person sleeps less than the optimal amount of hours, their skin cells also produce fewer antioxidants. Antioxidants protect against damage from the sun’s ultraviolet rays. Lack of sleep promotes inflammation and that can lead to dry skin. A Swedish study found that after just one night with no sleep people experience swollen, dark undereye circles and paler skin. Anti-fatigue cosmetics are created to alleviate these skin problems.

Today’s market size shows anti-fatigue cosmetic revenues for 2018 and projected for 2025. Cosmetic companies use words like energizing, invigorating, nourishing, brightening, and reviving to describe their anti-fatigue products which include skin care products that hydrate the skin, reduce dark undereye circles and puffy eyes, brighten dull complexions and shrink enlarged pores. Also included are cosmetics that hide and correct these issues.

Globally, creams had the highest revenue share in 2018 at 35%. Overnight moisturizers, under-eye creams, and under-eye primers were the most popular products. Creams also had the highest revenues in the United States, followed by gels. Oils, lotions, and serums came next holding similar market shares. Customers prefer to shop for anti-fatigue cosmetics at brick-and-mortar stores such as health and beauty retailers, hypermarkets, and supermarkets. In 2018, 80% of revenues came from these channels. Some of these retailers offer experts who advise shoppers about product usage, ingredients, and benefits. Some also offer samples to help consumers decide which products work best for them.  The global market is fragmented with several large, small and regional companies offering anti-fatigue products. Leading companies in this industry include L’Oréal S.A., Unilever, Shiseido Co. Ltd., The Estée Lauder Companies Inc., Bio Veda Action Research Co., Christian Dior SE, Nuxe Inc., Mesoestetic, Groupe Clarins S.A., and The Ordinary.  

North America was the leading market for anti-fatigue cosmetics in 2018 with a revenue share of 37.3%. Asia-Pacific countries such as China, Japan, South Korea, and India are expected to experience growing demand for these products as awareness of these products and purchasing power increases. Overall, growth in this industry is expected to come from an increasing number of people who feel more stressed and tired and their demand for natural cosmetic products. Caffeine, matcha green tea, ginseng, papaya, almond, pomegranate, and kelp are just some of the natural ingredients used in these products. Innovative products along with manufacturers’ skincare awareness campaigns targeting Millennials and Generation Z consumers on social media and beauty blogs are also expected to lead to growth over this time period. 

Geographic reference: World
Year: 2018 and 2025
Market size: $13.9 million and $18.9 million, respectively
Sources: “Anti-Fatigue Cosmetics Market Size, Share & Trends Analysis by Product (Oil, Cream, Lotion, Serum, Gel), by Distribution Channel (Offline, Online), by Region, and Segment Forecasts, 2019-2025,” Grand View Research Report Summary, January 2020 available online here; “Anti-Fatigue Cosmetics Market Size Worth $18.9 Million by 2025: Grand View Research, Inc.” PRNewswire Press Release, January 30, 2020 available online here; Cassie Shortsleeve, “What Happens to Your Skin When You Don’t Get Enough Sleep,” Allure, July 13, 2016 available online here; Vijay Kumar Chattu, et. al., “The Global Problem of Insufficient Sleep and Its Serious Public Health Implications,” Healthcare (Basel), March 2019, page 7 available online from the U.S. National Library of Medicine, National Institutes of Health here; “Stats: 51% of Adults Worldwide Don’t Get Enough Sleep,” Travel Agent Central, August 8, 2018 available online here; “The Anti-Fatigue Market is Projected to Perk Up,” CoastSouthwest, February 4, 2020 available online here.
Image source: stux, “cream-skin-care-cream-colors-194126,” PIxabay, October 12, 2013 available online here. Use of image does not constitute endorsement.

Video on Demand

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video on demand streaming
Video on demand is a method of media distribution in which viewers can access a provider’s library of video content with or without a television set and without the constraints of a static broadcasting schedule as is the case with over-the-air programming. Video on demand can be offered through internet protocol television (IPTV) services or through over-the-top (OTT) media services. IPTV uses a dedicated, private network provided by an internet service provider to stream live television, pay-per-view, and video on demand content over the internet through a set-top box or “stick” device connected to a customer’s television or directly through an app on a smart TV that has wi-fi capabilities. IPTV content can also be viewed using apps on tablets and smartphones and on computers through a web browser or through video applications that can play M3U8 files. As of April 2019, there were an estimated 100 million IPTV subscribers worldwide.

While there are many legal IPTV providers such as Sling TV, Xfinity Flex, DirecTV Now, AT&T U-verse and Zattoo, to name a few, there are also many companies that provide content they are not licensed to sell. According to a 2017 Sandvine Intelligent Broadband Networks study, 6.5% of North American households have accessed a pirated IPTV service. Pirated IPTV services were valued at $840 million per year while traditional content providers lost $4.2 billion per year due to copyright infringement. In recent years, content providers have filed lawsuits against IPTV providers that transmit unauthorized content. In 2019, Set TV NOW, with more than 180,000 subscribers, was the first major IPTV provider to shut down. The judge ordered the company to pay DISH Network Corp. more than $90 million in damages. In November 2019, police raids in Spain, Italy, the Netherlands, France, and Bulgaria shut down Xstream-codes.com, a company that provided the software that ran many IPTV systems. Its 5,000 clients, IPTV providers, served more than 50 million customers around the world. In 2020, more lawsuits against these types of companies are expected in the United States and around the world. Lawsuits against companies that make the services possible such as website hosting companies, file hosting companies, and companies that process the payments are also expected.

OTT services use the open internet to stream their video on demand content. A customer’s internet service provider treats data packets for streamed content the same as data packets for any other content sent over the internet. As a result, the quality of the viewing experience depends on the speed and quality of the customer’s internet connection. Customers need either a set-top box, “stick” device, multipurpose device like a game console that can stream video content, or a wi-fi enabled smart TV to view content on their television sets. OTT content can also be viewed on computers, tablets, and smartphones.

There are three types of OTT services: advertising-based (AVOD), transaction-based (TVOD), and subscription-based (SVOD). Advertising-based services are free to use, but customers must watch commercials like they do when they watch over-the-air, cable or satellite TV. YouTube and DailyMotion are examples of AVOD services. Transaction-based services allow users to sign up for the service for free and then the amount they pay is dependent on the content they watch. iTunes is an example of a TVOD service. Subscription-based video on demand services may be the best-known type of OTT. A user pays a monthly or yearly fee to stream an unlimited amount of video content. Netflix and Hulu are two examples of subscription-based OTT services.

Today’s market size shows the total global revenues for video on demand services for 2019 and projected for 2024. OTT services have the highest market share with subscription-based service revenue expected to grow at the highest compound annual growth rate (CAGR) over this time period. Overall, the global video on demand market is expected to grow at a CAGR of 17.5%. According to analysts, growth in this industry will be due to increasing broadband internet access globally, including access to 4G and 5G technologies, and the increasing popularity of smartphones. Services that offer a large variety of content in different genres and languages will also contribute to growth in this industry. North America is expected to account for 40% of the revenue between 2019 and 2024, with the Asia-Pacific region claiming 30%, Europe 20%, Latin America 5% and the Middle East and Africa 5%. Leading companies include Netflix, Amazon, Google, YouTube, Apple, Roku, Vudu, Hulu, Huawei, and Fujitsu among others. In the Asia-Pacific region the following companies are expected to capture most of the market share: YouTube, iQiyi, Tencent Video, Youku, ByteDance, Netflix, Amazon, Hotstar, and Hulu Japan.

Geographic reference: World
Year: 2019 and 2024
Market size: $38.4 billion and $87.1 billion, respectively
Sources: The Video on Demand (VoD) Market Size is Expected to Grow from USD 38.9 Billion in 2019 to USD 87.1 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 17.5%,” CISION PRNewswire Press Release, January 28, 2020 available online here; “2017 Global Internet Phenomena,” Sandvine Intelligent Broadband Networks, October 27, 2017 available online here; “What is IPTV? Everything Cord Cutters Need to Know,” AntennaJunkies.com available online here; Luke Bouma, “IPTV Came Under Fire in 2019 & in 2020 It Maybe All Out War,” Cord Cutters News, January 1, 2020 available online here; Luke Bouma, “Dish Officially Announces Legal Action Against Two IPTV Services,” Cord Cutters News, January 19, 2018 available online here; Ali Ahmed Awan, “Understanding the Terms SVOD, AVOD, TVOD and the Difference Between VOD and OTT,” ClipBucket, March 7, 2019 available online here; Dan Price, “The Best Legal IPTV Service Providers in 2019,” MakeUseOf, December 4, 2019 available online here;
Image source: Glenn Carstens-Peters, Unsplash, June 10, 2019 available online here.

Cannabis-Infused Beverages

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cannabis beverage tea
About two-thirds of Americans live in states where some form of cannabis is legal. Although it is illegal at the Federal level, 33 states have legalized medical cannabis and 10 states have legalized cannabis for adult recreational use. Canada legalized cannabis for medical use in 2001, recreational use in 2018 and in 2019 legalized cannabis edibles, extracts, and topicals. In the rest of the world, legalization varies by country but it has been decriminalized or made legal in some form throughout most of Central and South America and Africa. With cannabis legalized in so many locations throughout the world, the potential customer base for cannabis-infused beverages is quite large. According to a Yahoo News/Marist poll in 2017, in the United States alone, 54.5 million adults use marijuana, with 34.7 million adults using marijuana on a regular basis.1

Today’s market size shows the worldwide revenues of cannabis-infused beverages for 2018 and projected for 2025. While THC-infused product demand is driven by adults who use cannabis for recreational purposes, CBD-infused products are mainly consumed for medicinal purposes.2 Many consumers believe that CBD can treat chronic pain, anxiety, substance use disorders, and nervous system diseases among others. Growth in the cannabis-infused beverage market is expected to be fueled in part by rising demand for wellness drinks. Recently, cannabis consumer preferences have been turning away from smoking and toward the consumption of beverages, tinctures, chocolates, and other edibles. In the next few years, cannabis-infused beverages are expected to gain market share over other consumables that health-conscious consumers consider unhealthy, such as chocolates, cookies, brownies, and gummies. Those looking for healthier drinks tend to prefer nonalcoholic cannabis-infused beverages such as tea, water, carbonated beverages, and fruit and energy drinks. The nonalcoholic beverage category was the largest and fastest-growing segment in the market in 2018 with demand largely fueled by millennial women.

The alcoholic cannabis-infused beverage market was more than half the size of the nonalcoholic segment in 2018. Brewers are capitalizing on the cannabis-infused beverage demand by infusing their beers with THC and CBD. In some cases, brewers are partnering with marijuana growers to develop new products. In 2017, Constellation Brands, the third-largest beer manufacturer in the U.S., partnered with Canopy Growth, the world’s largest marijuana grower, to develop a line of new products. While trying to gain market share in this new product category, breweries may also be trying to maintain their market share overall. In a 10 year study at the University of Connecticut and Georgia State University, researchers found that in U.S. counties where marijuana was legalized, sales of beer and wine decreased by 15%.

By region, North America is the largest and fastest-growing market for cannabis-infused beverages and Europe is expected to see significant growth in the next few years due to the rising numbers of cannabis consumers in the region. Top companies in this industry include New Age Beverages Corp.; The Alkaline Water Co.; Phivida Holdings, Inc.; Koios Beverage Corp.; VCC Brand; Dixie Brands Inc.; Keef Brand; Hexo Corp.; Aphria; and Canopy Growth.

1 Once or twice a month.
2 THC stands for tetrahydrocannabinol. It is the chemical in cannabis that has psychoactive properties. CBD stands for cannabidiol. CBD does not have psychoactive properties.

Geographic reference: World
Year: 2018 and 2025
Market size: $901.8 million and $2.8 billion, respectively
Sources: “Cannabis Beverages Market Size, Share & Trends Analysis Report by Type (Alcoholic, Non-Alcoholic), by Component (Cannabidiol (CBD), Tetrahydrocannabinol (THC)), and Segment Forecasts, 2019 – 2025,” Grand View Research Report Summary, January 2020 available online here; “Cannabis Beverages Market Size Worth $2.8 Billion by 2025 | CAGR: 17.8%: Grand View Research, Inc.” CISION PRNewswire, January 14, 2020 available online here; “Yahoo News/Marist Poll: Weed & The American Family,” Marist Poll Press Release, April 17, 2017 available online here.
Image source: Kimzy Nanney, “Marijuana Herbal Tea,” Unsplash, February 28, 2019 available online here.

Shared Micromobility

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micromobility e-scooters

Shared micromobility systems are fleets of rentable lightweight one-passenger vehicles used mostly for utilitarian purposes. Riders use a smartphone app to unlock and rent vehicles. In cities where shared micromobility systems exist electric scooters (e-scooters), bicycles, and electric pedal-assisted bicycles (e-bikes) are the primary vehicles in use. When micromobility services were first offered, vehicles were docked. There were dedicated places where the vehicles were to be picked up or dropped off. More recently, companies have implemented a dockless model. Vehicles can be left anywhere or anywhere within a geofenced area as long as they do not impede pedestrian and motor vehicle traffic.

While some cities have embraced micromobility services as part of their overall transportation plan others have banned such services outright. For those that have allowed e-scooters and bicycle sharing systems in their city, these services are seen as a way to reduce traffic congestion and vehicle emissions. More than half the car trips in the United States are 5 miles or less. According to a study by the Portland Bureau of Transportation, had e-scooters not been available in Portland, Oregon, 34% of residents and 48% of tourists who have used this mode of transportation said that they would’ve taken a car, taxi or ride-haling service to their destination. For those who do not have a car and who may not live near public transportation, shared micromobility services allow them to get to and from their home, shopping and workplace easier by using these modes of transportation as a way to get to and from public transportation stops. But, these services may also be a replacement for public transportation for some riders. The average trip lengths for rail, bus and streetcar transportation are 4.9, 3.8 and 2.0 miles, respectively.1 Distances that can easily be traversed with a bicycle or e-scooter. And, while lower ridership on public transportation is a concern for some cities that have banned or strictly regulated shared micromobility solutions, especially e-scooters, the bigger concern is with public safety.2 Where bike lanes are unavailable, riders are more likely to share sidewalks with pedestrians. This presents a possible danger for pedestrians as well as e-scooter riders as these vehicles can travel up to 15 miles per hour. The danger for the e-scooter rider or e-bike rider if sharing the road with cars and trucks is even greater. Injuries due to inexperienced riders, uneven riding surfaces, nighttime use, and malfunctioning equipment are also concerning to city administrators. According to Consumer Reports, from the fall of 2017 to June 2019, there were 1,500 injuries3 to riders of rentable e-scooters and 8 deaths. 

Today’s market size shows the number of trips taken on shared micromobility vehicles in 2010, 2014 and 2018 in the United States. From 2017 to 2018 the total number of trips taken more than doubled from 35 million in 2017 to 84 million in 2018. Nearly all of this increase was due to e-scooter use. In fact, the number of e-scooter trips surpassed the number of station-based bike-share trips that year. Trips taken on shared e-scooters totaled 38.5 million, followed by station-based shared bicycles (36.5 million), e-bikes (6.5 million) and dockless shared bicycles (3 million). By the end of 2018, there were 85,000 e-scooters in use in 100 cities around the U.S. Station-based bikes numbered 57,000. Meanwhile, dockless bicycle-sharing all but disappeared. Seattle was the only city to still offer this service at the end of 2018. Despite the popularity of e-scooters overall, in 2019 both Lyft and Uber (JUMP brand) took their e-scooters off the streets of several cities due to lack of profitability and tightening regulations. Lyft reported they would refocus their e-scooter sharing operations in markets where population density is the greatest. Other leading e-scooter rental companies operating in the United States include Lime, Bird, Skip, Spin, and Scoot. Leading station-based bike-share systems by ridership include Citi Bike NYC (New York, NY), Capital Bike Share (Washington, D.C.), Divvy (Chicago, Ilinois), Ford GoBike (Bay Area, California), Bluebikes (Greater Boston area, Massachusetts), and Biki (Honolulu, Hawaii). In 2018, 84% of all station-based bike-share rides in the United States were concentrated in these 6 cities. That same year, 40% of all e-scooter rides were concentrated in Los Angeles, California; San Diego, California; and Austin, Texas.

1 Includes both heavy rail and light rail but not commuter rail.
2 Other concerns involve the dockless e-scooters and bikes being left on city sidewalks impeding pedestrians and the disabled. Some cities have imposed restrictions on the use of these vehicles in order to address the concerns.
3 Injuries in which the rider went to the hospital. Data from 110 hospitals in 47 cities.

Geographic reference: United States
Year: 2010, 2014 and 2018
Market size: 0.3 million, 18 million and 84 million, respectively
Sources: George Paul, “Lyft Will End E-Scooter Operations in 6 Cities and Lay Off Around 20 Staff Members,” Business Insider, November 18, 2019 available online here; Rasheq Zarif, Derek Pankratz, and Ben Kelman, “Small is Beautiful,” Deloitte Insights, April 15, 2019 available online here; “Micromobility,” Wikipedia, December 17, 2019 available online here; “Shared Micromobility in the U.S.: 2018,” National Association of City Transportation Officials, April 2019 available online here; Greg Gardner, “Nashville Mayor Proposed E-Scooter Ban; Then Council Changed the Rules,” Forbes, September 16, 2019 available online here; 2019 Public Transportation Factbook, American Public Transportation Association, April 2019 available online here; 2018 E-Scooter Findings Report, Portland Bureau of Transportation, January 15, 2019 available online here; Megan Rose Dickey, “JUMP Pulled Its Bikes From a Number of Markets in the Last Few Months,” Tech Crunch, September 13, 2019 available online here; Megan Rose Dickey, “Lyft is Ceasing Scooter Operations in Six Cities and Laying Off 20 Employees,” Tech Crunch, November 14, 2019 available online here; Adeyemi Ajao, “Electric Scooters and Micromobility: Here’s Everything You Need to Know,” Forbes, February 1, 2019 available online here.
Original source: National Association of City Transportation Officials.
Image source: Christian Bueltemann, “e-scooter-escooter-electric-scooter-4496668,” Pixabay, October 2019 available online here. Use of image does not constitute an endorsement.

Apprenticeships

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Apprenticeships are programs in which employers provide on-the-job mentored training to apprentices, employees who receive related technical and academic instruction at community colleges, technical schools or apprenticeship training programs. Businesses may also provide instruction online and on the job site. Apprentices receive wages that increase as more knowledge and skills are attained. The average starting wage for apprentices in programs registered with the U.S. Department of Labor is $15 an hour. Apprenticeships last between one and six years depending on the type of occupation and the amount of training needed. Graduates receive nationally-recognized industry credentials and in many cases college credit that can be used toward an associate or bachelor’s degree.

Apprenticeships are used to train workers in a variety of industries. Most apprentices work in the construction sector, 166,629, followed by public administration (19,447), manufacturing (15,630), transportation and warehousing (12,335), and utilities (7,281). Electrician is the most popular occupation. Nearly 44,000 apprentices trained to work in this field in 2018. Carpenter (25,921), construction craft laborer (15,612), plumber (14,471), and heavy truck driver (11,410) round out the top 5 apprenticeship occupations.

The expansion of apprenticeship program availability has been signature policies of both former President Barack Obama and current President Donald Trump. However, apprenticeships have yet to win over many parents and educators. While some see apprenticeships as an alternative pathway to a lifelong, well-paying career, especially for students who learn better by doing or those who do not want to take on staggering debt, others see it as a lower-level pathway to employment that will create a two-tier class system: those who can afford to will go to elite colleges and obtain white-collar careers while lower-income students will be discouraged from going to college while encouraged to apprentice in blue-collar professions. Many parents and educators believe that the only way students, especially low-income students, can obtain a high-paying, secure career is through, at minimum, a 4-year college degree.

Today’s market size shows the number of people that were participating in registered apprenticeship programs in the United States in 2013 and 2019.1 Not all apprenticeship programs are registered with the Federal government, however. Some experts estimate that there were about one million apprentices in 2019, one-twentieth the number of those enrolled in colleges and universities. In 2018 there were a total of 23,441 apprenticeship programs registered with the U.S. Department of Labor, 3,229 of which were new programs. This was the highest number of new programs in at least 10 years. According to the U.S. Department of Labor, in the past two years, more than 700 new programs have been created in fields such as cybersecurity, financial services, information technology, healthcare, and other white-collar industries. Overall in 2018, California had the most apprentices, 89,949, followed by South Carolina (20,763), Michigan (20,576), Ohio (19,081), and New York (18,337).

1 Excludes the United Services Military Apprenticeship Program, which had 98,435 apprentices in 2018.

Geographic reference: United States
Year: 2013 and 2019
Market size: 375,000 and 633,625, respectively
Sources: Farah Stockman, “Want a White-Collar Career Without College Debt? Become an Apprentice,” The Denver Post, December 29, 2019, pp. 1K, 6K; “Apprenticeship Toolkit: Frequently Asked Questions,” U.S. Department of Labor available online here; “Data and Statistics,” U.S. Department of Labor, Employment and Training Administration available online here.
Image source: Gerd Altmann, “dream-job-application-location-job-2904780,” Pixabay, November 1, 2017 available online here.

Personal Luxury Goods

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Personal luxury goods include high-end apparel, leather goods, accessories, watches, jewelry, perfume, beauty products and other high-end goods for personal use. Today’s market size shows the total global sales of personal luxury goods for 2018 and projected for 2025.1 Top companies in this sector, ranked by 2018 sales, include LVMH ($53.66 billion), EssilorLuxottica ($18.57 billion), Richemont ($16.05 billion), Kering ($15.71 billion), Swatch ($8.71 billion), Chow Tai Fook ($8.71 billion), Hermés ($6.88 billion), Ralph Lauren ($6.42 billion), Tapestry ($5.96 billion), and Capri Holdings ($5.38 billion).2

Traditionally consumers who wanted to purchase personal luxury goods shopped at specialty boutiques or high-end department stores such as Nordstroms, Bergdorf Goodman, or Saks Fifth Avenue. But, just as other brick-and-mortar retail establishments have been affected negatively by online retailers, so too have personal luxury goods retailers. Several online sites such as Net-a-Porter offer multiple brands of high-end merchandise for sale, free shipping and the convenience of shopping from home. Overall, in-store traffic decreased by 30% from 2012 to 2018. Still, according to EY Advisory, although more than 70% of purchases are influenced by online channels, nearly 90% of purchases are made in store.

Increasingly, many shoppers in their 20s through 40s who can afford high-end merchandise do not want to pay full price for their purchases. In addition, while many Millennials and Generation Z consumers want to be seen in new styles often, they are also concerned about sustainability. They see clothing resale and reuse as a way to conserve resources while also satisfying their want of a new wardrobe. Overall, 26% of luxury shoppers also buy secondhand. While wealthy consumers are unlikely to shop at places such as Goodwill or other thrift stores, they are shopping online at sites such as Fashionphile and TheRealReal which allow consumers to buy, sell and consign used luxury clothing and accessories and at sites such as Rent the Runway which allows consumers to rent high-end clothing for a monthly fee. Millennial and Generation Z consumers made a third of luxury purchases worldwide in 2018 according to Bain & Co. Purchases made by consumers in these two generations combined contributed to nearly all of the growth in the luxury goods sector in 2018.

Some luxury brands such as Gucci and Louis Vuitton have been opening boutique stores and expanding their website offerings in order to control their exclusivity while at the same time their merchandise is discounted at resale sites. Some luxury retailers are focusing on experiences and services to compete with online retail, resale, and rental sites by offering customers champagne and hors d’oeurves while they shop, having cafés and beverage bars in store, and hiring style advisors to help customers. Nordstrom partnered with Rent the Runway to offer customers the ability to drop off their Rent the Runway fashion items at their store. After learning that half their customers also buy or sell used merchandise, Neiman Marcus invested in a minority share of Fashionphile, however, they do not plan to sell secondhand merchandise in their stores or on their website.3 They may want to rethink that strategy, however. In ThredUp’s 2019 Resale Report, GlobalData, a retail analytics firm, found that 33% of consumers would buy more from luxury retailers if they offered secondhand clothing.

1 For the projected 2025 data, the source mentions the “luxury goods market.” The article in which this appears reports only on personal luxury goods, therefore, our editors assumed that this figure was for personal luxury goods only.
2 The source reports sales figures in euros. Our editors used the December 31, 2018 conversion rate of 1 Euro = 1.1466 U.S. dollars given on the Market Insider website here to convert the sales figures to U.S. dollars. Rankings do not include cosmetics companies. If they did the following companies would be in the top 10: L’Oréal ($30.84 billion), Estée Lauder ($13.99 billion) and Beiersdorf ($8.26 billion). Cosmetics sales include products at all price points.
3 Through the partnership with Fashionphile, Neiman Marcus has designated a few of their stores as drop-off points for customers who want to sell their merchandise on Fashionphile. Sellers receive an immediate quote from Fashionphile for their merchandise and immediate payment if they choose to sell. Neiman Marcus is hoping that customers will then want to use that payment to buy merchandise in their stores.

Note: Any mention of brands or companies in this post does not constitute an endorsement.

Geographic reference: World
Year: 2018 and 2025
Market size: $286.53 billion and $445 billion, respectively
Sources: Anne D’Innocenzio, “Luxury Stores Adapt to Changing Shoppers,” The Denver Post, December 29, 2019, pp. 1K, 6K; Florine Eppe Beauloye, “The 15 Most Popular Luxury Brands Online in 2019,” Luxe Digital, April 20, 2019 available online here; “Tailoring the Luxury Experience: The Luxury and Cosmetics Financial Factbook 2019 Edition,” EY Advisory S.p.A., 2019 available online here; ThredUp 2019 Resale Report, March 2019 available online here; Tom Ryan, “Are Secondhand Sales the Right Branding Move for Neiman Marcus?” RetailWire, April 23, 2019 available online here.
Original source: Bain & Co.
Image source: FranckinJapan, “bag-luxury-accessories-japan-ginza-2060110,” Pixabay, February 13, 2017 available online here. Use of image does not constitute an endorsement.

Livery Cabs in New York City

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taxicab

In New York, mobility options for people who do not own a car include the subway, busses, Yellow taxis, Green taxis,1 ride-hailing services, and livery cabs. Unlike other taxicabs, livery cabs are not authorized to pick up customers who hail them in the street. Customers must call a livery cab base station to book a ride. Many of the base stations are in the outer-boroughs and low-income areas of New York where public transportation options are sparse. Many stations are owned by Latino immigrants and owners and drivers live in the neighborhoods they serve. Dispatchers in some cases are multilingual. Many customers feel more comfortable calling for a ride from these services, from people they have known for years and who speak their native language. According to Cira Angeles, spokesperson for the Livery Base Owners Association, livery cabs continue to be an integral part of Latino neighborhoods.

However, in recent years, fewer livery cab bases are able to stay in business. Today’s market size shows the number of livery cabs in New York City in 2015 and 2019. More than 100 livery cab bases have gone out of business since 2015; 46 in 2019 alone. According to owners of these types of businesses, caps on the number of licenses, while meant to reduce traffic congestion and keep salaries high by limiting competition, make it harder for them to replace retiring drivers and drivers whose licenses cannot be renewed due to outstanding tickets. Also, more bookings through ride-hailing apps coincide with fewer calls to livery cab bases. Livery cabs are not the only types of transportation services to see fewer riders as a result of ride-hailing services, however.2 From October 2015 to August 2019,3 rides per day increased by nearly 300% for ride-hailing services but dropped 75.5% for Green taxis, 57.6% for livery cabs, and 51% for Yellow taxis. In October 2015, Yellow taxis completed more than 397,000 trips per day; ride-hailing services, 163,168; livery cabs, 91,496; and Green taxis, 52,598. By August 2019, ride-hailing services topped 648,000 trips per day. Yellow taxis completed 194,798 trips per day; livery cabs, 38,815; and Green taxis, 12,866.

1 Green taxis, also known as boro taxis, are types of livery cabs that operate in northern Manhattan and the boroughs outside of Manhattan. They are authorized to pick up customers who hail them in the street. Customers may also call their livery cab base to arrange a ride over the phone. In addition, as part of a two year pilot program that started in 2018, customers can use an app to book a ride.
2 Ride-hailing companies include Uber, Lyft, Juno and Via.
3 August 2019 was the most recent month in which livery cab data were reported by the New York City Taxi and Limousine Commission.

Geographic reference: New York, New York
Year: 2015 and 2019
Market size: 22,000 and 9,600
Sources: Claudia Torrens, “In Ride-Hail Boom, Livery Cabs Feel Squeezed,” The Denver Post, December 29, 2019, p. 2K; “Taxi and Ridehailing Usage in New York City,” available online here; “Aggregated Reports,” New York City Taxi and Limousine Commission available online here; “Taxicabs of New York City,” Wikipedia, January 1, 2020 available online here; “You Can Hail NYC Green Cabs With an App,” Fox 5 New York, September 25, 2018 available online here.
Original Source: New York City Taxi and Limousine Commission
Image source: Pexels, “automobile-automotive-blur-car-1845650,” Pixabay, November 21, 2016 available online here

Floatation Centers

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floatation centers, still water

Floatation centers are alternative health and wellness businesses that have one or more float tanks for their clients’ use. Float tanks are tanks filled with skin-temperature warm water mixed with enough Epsom salt to allow a person’s body to float. The temperature of the water makes it imperceptible to the person floating in the tank. The tank is sound-proof and pitch-black blocking out any outside stimuli. These tanks are sometimes called sensory deprivation tanks or isolation tanks.

In the 1950s, interest in the brain’s reaction to sensory deprivation began among neuroscientists. Some scientists believed that the brain would shut down into a coma-like state. Others believed that the brain would still remain active, just looking inward for stimulation. Neuroscientist John C. Lilly built the first float tank in 1954 at the National Institute of Mental Health Laboratory in the Virgin Islands; however, unlike modern floatation tank clients, the subjects of Lilly’s experiments were submerged underwater and needed to wear divers helmets with tubes to breathe. The results of the experiments proved that the brain does not go into a comatose state when deprived of stimuli. Subjects reported feeling energized and motivated to fulfill their highest life potential afterward. This led Lilly to build more float tanks in research centers in the United States.

In the early 1970s, Lilly partnered with Glenn and Lee Perry to develop a commercially available float tank that people could have in their homes. In 1979, the first floatation center opened in Beverly Hills, California with 5 of these tanks. The business was a success and floatation centers opened across the United States. Business boomed in the early 1980s. Now called Restricted Environmental Stimulation Therapy (REST), research continued although some scientists found it difficult to get funding. Lilly’s reputation for being eccentric and the 1980 cult-classic movie Altered States, inspired by Lilly’s life, led some to believe that floatation tank research was “a hippie fad.” By the mid-1980s, AIDS was taking a toll on the population and on floatation center businesses. Most went out of business. Then in the 2000s and especially the 2010s, floatation centers saw a resurgence in popularity as alternative health and wellness practices became more available and acceptable.

According to some studies, after float sessions, patients experience lower levels of stress-related hormones.1 Lower blood pressure and improvements in mood, pain, and muscle tension have also been reported. In some cases, effects last for several months. Floating has been shown to lessen stress-related pain, anxiety, and depression. Patients suffering from various conditions such as addiction, arthritis, fibromyalgia, and post-traumatic stress disorder may also be helped by floating.

Today’s market size shows the number of floatation centers in the United States in 2011 and 2019. California had the highest number of floatation centers in 2019, 70, followed by New York and Florida (tied with 29 each), Texas (20), Pennsylvania (18), and Illinois (17). In a majority of cases, floatation centers offer other services such as massage, infrared saunas, reiki, yoga, meditation, sound and light therapy, counseling services, and acupuncture. Despite this, according to a survey conducted by Float Tank Solutions, more than three-quarters of these businesses earn most of their income from floating. In 2019, the average annual revenue from a float tank totaled $41,939.

1 Float sessions last a minimum of 30 minutes at floatation centers.

Geographic reference: United States
Year: 2011 and 2019
Market size: 85 and 462, respectively
Sources: Mandy Oaklander, “Float Hopes, Moods Lift,” Time Special Edition: Mental Health a New Understanding Reissue, 2019, pp. 50-53; “Sensory Deprivation Tank Locations by Region,” Floatation Locations available online here; 2019 State of the Float Industry, Float Tank Solutions available online here; “Float HIstory,” True REST: The Science of Feeling Great available online here.
Image source: Dimhou, “sea-water-ocean-quiet-horizon-3652697,” Pixabay, September 5, 2018 available online here.

Tea

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tea

Worldwide, tea is the second-most consumed nonalcoholic beverage behind packaged water.1 Per capita consumption totaled 35.2 liters in 2017. According to legend, tea was discovered in China in 2737 B.C. by the emperor when leaves from a wild tree blew into a pot of boiling water. He named the drink “ch’a”, which means “to investigate”, to describe the warm feeling he felt when drinking this new beverage as if the liquid was investigating every part of his body. In 200 B.C. the emperor of China at that time ruled that a special written character be used when mentioning tea. The character consisting of wooden branches, grass and a man between the two was meant to symbolize tea bringing nature and humankind into balance in the Chinese culture.

Starting in the 8th century, trade with China introduced this drink to other parts of the world. It is now an important part of the culture in countries such as Japan, the United Kingdom, and Turkey in addition to China. In 2016, Turkey ranked number one in per capita consumption in the world, 6.96 pounds, followed by Ireland (4.83 lbs.), the United Kingdom (4.28 lbs.), Russia (3.05 lbs.), and Morocco (2.68 lbs.). Although the United States ranked 34th in per capita consumption in 2016, tea played an important role in its early history. To capitalize on its popularity in the American colonies, Britain, which exported tea to the colonies, imposed a tea tax. The tax eventually reached 119% of the original price at wholesale. The Boston Tea Party, one of the events that led to the American War of Independence, was a protest against this high taxation.

Today’s market size shows worldwide revenues for tea in 2018 and projected for 2026. In 2017, the last year for which data exists, China was the top producer of tea, followed by India, Kenya, Sri Lanka, and Viet Nam. Black and green are the most popular types globally, commanding 39.2% and 30.5% of the market, respectively. In the United States, sales totaled $19.7 billion in fiscal year 2018, according to Beverage Marketing Corporation. Black tea accounted for 84% of the tea consumed; green tea, 15%. Ready-to-drink tea was the only category to see an increase in both sales volume and value from 2017 to 2018. Ready-to-drink tea represents 46% of the U.S. market by volume, followed by teabags at 44%. Loose leaf tea, tea pods, and iced tea mix account for the rest. Major global manufacturers of tea include Tata Global Beverages, Unilever, Associated British Foods Plc., TAETEA, Barry’s Tea, Apeejay Surrendra Group, Bettys & Taylors Group Ltd., McLeod Russel, ITO EN Inc., and Mighty Leaf Tea Company, among others.

Sales are expected to grow through 2026 due to rising disposable income in many countries and consumers’ growing preferences for organic products and healthier beverages. Some sources claim that the polyphenols in tea, which have anti-inflammatory and antioxidant properties, can lower the risk of type 2 diabetes and cardiovascular disease. Others claim tea can boost one’s immune system, strengthen bones and teeth, reduce the risk of cancer and kidney stones and control blood cholesterol levels. According to Qi Sun, assistant professor in the Department of Nutrition at the Harvard School of Public Health, “Tea consumption, especially green tea, may not be the magic bullet, but it can be incorporated in an overall healthy diet with whole grains, fish, fruits and vegetables, and less red and processed meat.” Sun goes on to warn, however, that any health benefits of tea will likely be negated if one chooses to drink only processed, sugar-sweetened tea beverages.

January is National Hot Tea Month in the United States. May our readers have time to brew a cup, slow down, and savor life’s beautiful moments!

1 Does not include tap water.

Geographic reference: World
Year: 2018 and 2026
Market size: $52.1 billion and 81.6 billion, respectively
Sources: Sumesh Kumar and Roshan Deshmukh, “Tea Market by Type (Green Tea, Black Tea, Oolong Tea, Fruit/Herbal Tea, and Others), Packaging (Plastic Containers, Loose Tea, Paperboards, Aluminum Tins, and Tea Bags), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Stores, And Others) and Application (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2019-2026,” Allied Market Research Report Summary, December 2019 available online here; “The History of Tea,” Coffee Tea Warehouse available online here; “List of Countries by Tea Consumption Per Capita,” Wikipedia, November 13, 2019 available online here; “Crops,” Food and Agriculture Organization of the United Nations, January 18, 2019 available online here; Dan Bolton, “Tea Consumption Second Only to Packaged Water,” World Tea News, May 1, 2018 available online here; Dan Bolton, “RTD Leads Growth in US Tea Market,” World Tea News, December 17, 2018 available online here; “Tea Market Size, Share & Trends Analysis Report by Product (Black, Green, Oolong, Herbal), by Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online), by Region, and Segment Forecasts, 2019 – 2025,” Grand View Research Report Summary, August 2019 available online here; “Tea Fact Sheet – 2018-2019,” Tea Association of the U.S.A. Inc. available online here; “Tea: A Cup of Good Health?” Harvard Men’s Health Watch, August 2014 available online here.
Image source: TerriC, “tea-cup-vintage-tea-cup-tea-cup-2107599,” Pixabay, March 1, 2017 available online here.

Rum

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Whether “on the rocks,” mixed in a mojito, or poured over a cake, rum remains a popular and versatile drink. It is the third most popular distilled spirit in the United States, behind vodka and whiskey. In recent years, rum distillers have been adding flavorings such as coconut, citrus, and spices to their product. In 2019, for the holidays, Captain Morgan introduced gingerbread spiced rum to its product lineup. Currently, flavored and spiced rum accounts for more than 55% of rum sold in the United States.

Rum is an alcoholic beverage made from molasses, a byproduct of sugar refining.1 It was first distilled in the early 17th century in the West Indies. Due to trade, the popularity of this drink spread to the British colonies of North America. The first distillery in the colonies opened in 1664 on Staten Island, New York. Soon after, colonial New England became a distilling center. Distilleries in Massachusetts and Rhode Island provided up to three-quarters of the rum for export. By the middle of the 18th-century, 93 distilleries in these two states were producing about 1.2 million gallons per year. 

Rum figured prominently in the trade between the North American British colonies, Africa, and the West Indies. Slaves were brought from Africa to the West Indies and traded for molasses. The molasses would be made into rum in colonial New England distilleries, then exported to Africa to trade for more slaves.

Distilleries in Connecticut, New York, and Pennsylvania mostly supplied the domestic market. By the Revolutionary War, the consumption of rum in the colonies was estimated to be three imperial gallons for every man, woman, and child.

Today’s market size shows the total U.S. rum supplier gross revenues for 2008 and 2018. Overall sales have been trending downward since 2013 when sales reached its highest in at least a decade and a half, 25.6 million 9-liter cases. In 2018, 23.9 million cases were sold, a 1.51% drop from the 24.24 million cases sold in 2008, and a 6.6% drop from 2013 levels. Gross revenues increased by 5.41% from 2008 to 2018 but trended downward 3.93% from 2013 to 2018. While value and premium types of rum have seen their sales decrease, high-end premium and super premium sales increased from 2008 to 2018. High-end premium sales increased by 21.21%, with revenues increasing by 24.11%. Sales of 9-liter cases of super premium rum increased by nearly 250% during this time period, its revenues increasing 258%. Currently, there are 194 rum distillers in the United States producing more than 400 brands. Bacardi was the top brand in 2018, selling 6.49 million 9-liter cases in the United States. Worldwide, the top five brands by 2018 sales volume include Tanduay (20.1 million 9-liter cases), Bacardi (17.1 million), Captain Morgan (11.7 million), McDowell’s No. 1 Celebration (11.2 million) and Havana Club (4.6 million).

1 Some modern brands of rum are made from sugarcane juice.

Geographic reference: United States
Year: 2008 and 2018
Market size: $2.18 billion and $2.3 billion, respectively
Sources: “Rum: More Than Just Piña Coladas…,” Distilled Spirits Council, February 2019 available online here; “Rum,” Wikipedia, November 25, 2019 available online here; “Rum,” Encyclopedia Britannica available online here; Kyle Swartz, “Captain Morgan Rolls Out Gingerbread Spiced Rum,” Beverage Dynamics, November 21, 2019 available online here; Thomas Henry Strenk, “Rum’s Conundrum,” StateWays, May 31, 2018 available online here; “American Rum Producers,” Rob’s Rum Guide available onlne here; “Colonial Molasses Trade,” Wikipedia, March 31, 2019 available online here; Jan Conway, “Rum Industry – Statistics & Facts,” Statista, August 6, 2018 available online here; Jan Conway, “Sales Volume of the United States Spirits Industry from 2010 to 2018, by Category,” Statista, February 19, 2019 available online here; Jan Conway, “Leading Rum Brands Worldwide in 2018, Based on Sales Volume (in Million 9 Liter Cases)*,” Statista, July 8, 2019 available online here; Jan Conway, “Volume Sales of the Leading Rum Brands in the U.S. 2018,” Statista, August 5, 2019 available online here.
Image source: Paul Steuber, “cocktail-mojito-drink-alcoholic-2306939,” PIxabay, May 12, 2017 available online here.

Poinsettias

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poinsettias

‘Tis the season to see poinsettias in supermarkets, department stores, churches, and maybe even in your own home. This was not always the case in the United States. After finding this plant growing along the side of the road in Taxco, Mexico, Dr. Joel Poinsett, amateur botanist, physician and the first U.S. ambassador to Mexico, sent cuttings back to his home in South Carolina in 1828. While most botanists of the time considered it a weed, Dr. Poinsett continued to study and breed the plant in his greenhouse and share his plants with his horticulturist friends. In the United States, poinsettias are named in honor of him. Since the mid-1800s, the United States has observed December 12th, the anniversary of Dr. Poinsett’s death, as National Poinsettia Day.

In Mexico and Guatemala, this plant is known as Flor de la Nochebuena, or Flower of the Holy Night. The Holy Night being Christmas Eve. The colorful leaves of this plant are thought to resemble the Star of Bethlehem. Besides being used as decoration at Christmastime, poinsettias are used as decoration to celebrate the feast of Our Lady of Guadalupe in Mexico on December 12, a national holiday commemorating the belief that Jesus’ mother Mary, who is Mexico’s patron saint, appeared to a man in Mexico City on December 9 and 12 in 1531.

In temperate climates, the plants are perennial shrubs that can grow as high as 10-12 feet tall. In the early 1900s, Paul Ecke, Sr. developed the first poinsettia that could be grown indoors as a potted plant. He grew them in open fields along Sunset Boulevard and sold them at roadside stands in Hollywood. However, his son, Paul Ecke, Jr. is credited with being the father of the poinsettia industry. In 1965, under his supervision, hybridizers at Ecke Ranch in California created a plant whose blooms lasted more than a week and whose leaves stayed on the plant for more than a few days. He also developed a growing technique that caused the seedlings to branch, creating a fuller and more aesthetically pleasing plant. Paul Ecke, Jr. contributed to the current popularity of poinsettias by donating them to leading women’s magazines for their holiday layouts1 and to popular TV shows such as The Tonight Show, the Dinah Shore Show and the Bob Hope Christmas Specials in order to stimulate demand among consumers. By 1986, the poinsettia was the top-selling potted plant in the United States. When Ecke Ranch was sold to the Dutch company Agribio Group in 2012, it commanded more than 70% of the market in the United States and 50% of the worldwide market.

In terms of dollar value, Christmas/Hanukkah is the top floral buying holiday. Thirty percent of consumers purchase flowers or plants as gifts during this time of year. Of those, 53% purchase poinsettias. There are currently more than 100 varieties. The most popular color by far is red (74%), followed by white (8%), pink (6%) and mixed (3%).

Today’s market size shows the value of wholesale sales of potted poinsettias in 2015 and 2018 in the United States.2 In 2018, nearly 34.2 million potted poinsettias were sold at wholesale, up from 31.97 million in 2015. In the United States, 96% of poinsettias produced are sold at wholesale. In both 2015 and 2018, the top two states in terms of both dollar sales and units sold were California and North Carolina. In 2018, more than 7 million potted poinsettias were sold at wholesale in California valued at $29.4 million, up from nearly 5.8 million sold in 2015 with a value of $29.3 million. In North Carolina, 3.8 million potted poinsettias were sold at wholesale in 2018, down from 4.3 million in 2015. The value of the plants sold also dropped from $16.4 million in 2015 to $14.1 million in 2018. In 2015, Florida rounded out the top 3 with 3.1 million plants sold valued at $12.3 million. However, in 2018, New York was third in dollar sales ($12.4 million) and Michigan was third in units sold (nearly 2.8 million). In 2015, there were 578 producers; in 2018, 581.

1 Because magazines created their Christmas layouts in July and August, Ecke, Jr. needed to bloom plants out of season.
2 Businesses with $100,000 or more in sales.

Geographic reference: United States
Year: 2015 and 2018
Market size: $139.7 million and $148.8 million, respectively
Sources: Floriculture Crops 2018 Summary, United States Department of Agriculture, National Agricultural Statistical Service, May 2019 available online here; Dr. Leonard Perry, “Fun Facts About Poinsettias,” University of Vermont Extension, Department of Plant and Soil Science available online here; Susan La Fountaine, “Master Gardener: Here’s How Plants Became Part of the Christmas Story,” Fremont News Messenger, November 19, 2019 available online here; Erica D. Seltzer and MaryAnne Spinner, “Poinsettia Facts,” University of Illinois Extension available online here; “Christmas/Hanukkah Floral Statistics,” About Flowers, Society of American Florists, 2018 available online here; Elaine Woo, “Paul Ecke Jr., 76; Made Poinsettia U.S.’ Top-Selling Potted Plant,” Los Angeles Times, May 16, 2002 available online here; Matt Krantz, “Paul Ecke Sr.: ‘Poinsettia King’ Cultivated A Holiday Tradition,” Investor’s Business Daily, November 21, 2018 available online here; “Feast of Our Lady of Guadalupe in the United States,” timeanddate.com available online here.
Image source: Susanne Jutzeler, suju-foto, “poinsettia-adventsstern-4636921,” Pixabay, November 22, 2019 available online here.

Cookies

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chocolate chip cookies

In the United States, December 4th is National Cookie Day. But most people don’t wait for a holiday to indulge in their favorite sweet treat. In a survey conducted by Ask Your Target Market, 22.75% of U.S. consumers reported buying cookies once a month and about the same percentage, 22.25%, reported buying cookies more than once a month.

The love of cookies extends beyond the United States. Cookies are a beloved treat all over the world. Amaretti in Italy, macarons in France, kleicha in Iraq, rafioli in Croatia, stroopwafel in the Netherlands, and chocolate chip in the United States. Cookies come in many shapes, sizes, flavors, and textures. To pique the interest of consumers, bakery manufacturers add unusual flavorings such as pineapple and chai spices to their products. However, in developed countries like the United States, Germany, and the United Kingdom, chocolate cookies continue to be highly favored. Nabisco Oreos are the best selling cookies in the world with more than $2 billion in annual sales. In 2018, Oreo sales totaled more than $698 million in the United States.

To capitalize on consumers’ health-consciousness, cookie manufacturers add oats, quinoa, and other whole grains to their products. Consumers’ concerns about gluten intolerance, especially in North America and Europe, will continue to create product demand for gluten-free products and growth in the market. Consumers’ continued demand for on-the-go foods is also expected to increase revenues in the coming years.

Today’s market size shows worldwide cookie revenue in 2018 and projected for 2025. North America, the Asia-Pacific region, and Europe were the largest markets for cookies in 2018. Cookie revenues in North America alone totaled more than a third of all worldwide revenue in this category in 2018, $10.42 billion. By 2025, 25% of worldwide cookie revenues are expected to come from the Asia-Pacific region due to rising incomes and changing lifestyles.

Most people buy cookies at supermarkets and convenience stores; however, online sales are expected to experience the fastest growth between 2018 and 2025. By 2025, nearly 20% of cookie sales are projected to take place online. Some top cookie manufacturers include The Kellogg Co.; Nestlé S.A., PepsiCo, Inc.; Britannia Industries Ltd.; The Campbell Soup Co.; Mondele̅z International, Inc.; Danone S.A.; and Parle Products Private Ltd.

Geographic reference: World
Year: 2018 and 2025
Market size: $30.62 billion and $44.01 billion, respectively
Sources: “Cookies Market Size, Share & Trends Analysis Report by Product (Bar, Molded, Rolled, Drop), by Distribution Channel (Offline, Online), by Region (North America, APAC, MEA, Europe, CSA), and Segment Forecasts, 2019 – 2025,” Grand View Research Press Release, April 2019 available online here; “Cookies Market Size Worth $44.01 Billion by 2025 | CAGR: 5.3%: Grand View Research, Inc.,” CISION PR Newswire Press Release, May 22, 2019 available online here; Anne Pilon, “Cookie Survey: People Buy More Cookies Over the Holidays,” AYTM, December 4, 2014 available online here; Stephanie Ashe, “13 Things You Didn’t Know About Oreo Cookies,” Insider, March 5, 2019 available online here; “2017 Fact Sheet,” Mondele̅z International available online here; “Top 50 Most Popular Cookies in the World,” TasteAtlas, November 19, 2019 available online here; “Top 8 Most Popular African Cookies,” TasteAtlas, November 19, 2019 available online here; “U.S. Cookie and Snack Sales,” The Manufacturing Confectioner, February 2019, p. 15 available online here.
Image source: Steven Giacomelli, “cookies-chocolate-chip-cookies-1264263,” Pixabay, March 18, 2016 available online here.

Onions

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onions

Whether diced in a dip, sliced in a salad, minced in stuffing, or fried atop a green bean casserole, onions are versatile vegetables that add flavor to dishes without adding many calories. Perhaps because of this, onions were the third most consumed vegetable in the United States in 2018.1 Only potatoes (113.7 pounds per capita) and tomatoes (86.1 pounds per capita) had higher consumption rates. Per capita consumption of onions totaled 22.3 pounds, the vast majority of which, 20.4 pounds, was in the form of fresh onions. Yellow onions were the most popular, 34% of sales, followed by red onions (14.3%), scallions (13.3%), white onions (11.3%), Vidalias (7.4%) and shallots (1.5%).2

Today’s market size shows the total value of utilized production in the United States for 2016, 2017, and 2018. In 2018, onions ranked 5th behind tomatoes, head lettuce, romaine lettuce, and sweet corn. In 2016, onions ranked 3rd. Most of the value comes from fresh onions. In 2018, fresh onion value totaled $655.1 million. Processed totaled $162.4. From 2016 to 2018, the price per hundredweight of harvested onions fell from $16.50 down to $13.50. Prices may increase during the 4th quarter of 2019 due to a smaller harvest in the Northwest and Rocky Mountain regions. Rain in the summer delayed planting, harvesting was delayed because of more rain and because the onions were still in the ground later than usual, a mid-October freeze may have affected 20-25% of the crop. The top three states for onion production are California, Washington, and Oregon.

1 Per capita food availability measures.
2 Market shares are based on sales at supermarkets, drug stores, mass merchandisers, military commissaries, and select club and dollar chains for the 52 weeks ended June 17, 2018. Source: Market Share Reporter, 30th Edition, Gale, a Cengage Company, 2020, pages 401-402. Original source: Fresh Foods – A Supplement to Winsight Grocery Business. Annual 2018, p. 41, from IRI.

Geographic reference: United States
Year: 2016, 2017, and 2018
Market size: $1.059 billion, $1.042 billion, and $817.5 million, respectively
Sources: Vegetables 2018 Summary, United States Department of Agriculture, Agricultural Statistical Service, March 2019 available online here; “Food Availability (Per Capita) Data System,” United States Department of Agriculture, Economic Research Service, July 31, 2019 available online here; Market Share Reporter, 30th Edition, Gale, a Cengage Company, 2020, pages 401-402; Greg Johnson, “October Freeze May Spike Onion Market,” Blue Book Services, October 17, 2019 available online here.
Image source: Shutterbug75, “bulb-onions-diet-flavor-food-1238332,” PIxabay, March 5, 2016 available online here.

Digestive Health Supplements

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Digestive health supplements

Soft drinks, potato chips, candy, fast food. Tasty, yes. But also high in fat, added sugar and salt. Some researchers believe that a diet high in these types of food, along with a diet of highly processed foods, can be a factor in the development of digestive disorders. Other top factors include smoking, pollution, and genetics.

As consumers become aware that gut health contributes to overall health, demand for digestive health supplements is predicted to increase. Probiotics, prebiotics, enzymes, and fulvic acid are some types of digestive health supplements. Probiotics, prebiotics, and enzymes can also be found in some types of food, food which also contains many beneficial nutrients.

Probiotics are live bacteria and yeasts that are beneficial for the digestive system. They are found in foods such as yogurt,1 kefir, unpasteurized sauerkraut, and kimchi. Probiotic supplements are used to treat antibiotic-associated diarrhea in adults and infectious diarrhea in infants and children. They are also given to people with Crohn’s disease, ulcerative colitis, and irritable bowel syndrome to help them maintain remission of their disease. Supplements contain various strains of probiotics, depending on the brand. Some popular brands of over-the-counter probiotic supplements that have been tested for use with gastrointestinal disorders include Align (Bifidobacterium infantis 35624), Culturelle (L. rhamnosus GG), and Florastor (Saccharomyces Boulardii).2 

Prebiotics are a type of plant-based fiber that the human body cannot digest. Prebiotics provide food for probiotics; together they maintain a healthy colony of bacteria and microorganisms in a person’s gastrointestinal tract. Prebiotics can be found in fruits, vegetables, and whole grains. Apples, garlic, onions, asparagus, barley, and oats are some foods that contain prebiotics. Most people get enough prebiotics in their diet if they eat a variety of fruits, vegetables, whole grains, and fermented foods, but for those that don’t, prebiotic supplements may be beneficial. Some popular brands of prebiotic supplements include Benefiber, Metamucil, and Fiber Choice.

Digestive enzymes break down food so that a person can absorb its nutrients. A majority of digestive enzymes are manufactured in the pancreas. Lipase breaks down fats. Amylase breaks down carbohydrates. Proteases and peptidases break down proteins. Doctors prescribe digestive enzyme supplements to people with cystic fibrosis, chronic pancreatitis, and pancreatic cancer. These conditions cause a person’s digestive enzyme levels to be low. Over-the-counter digestive enzyme supplements include lactase supplements to break down lactose, the sugar in dairy products, and alpha-galactosidase supplements, to break down the complex carbohydrates in foods such as beans, broccoli, cabbage, and cauliflower. Lactaid and Beano are two popular brands of these types of digestive enzymes, respectively.

Fulvic acid has been used in traditional Indian medicine for 3,000 years. Shilajit, a tar-like substance found in the Himalayas, Caucasus mountains, Altai Mountains and the mountains of Gilgit Baltistan, is created from the decomposition of plants. It contains soil-based organisms and is composed of 15-20% fulvic acid. Some believe that ingesting fulvic acid supplements such as shilajit can improve a person’s gut flora to treat such conditions as small intestinal bacterial overgrowth, irritable bowel syndrome, leaky gut, chronic constipation, and diarrhea. It’s believed that poor gut health caused by oxidative stress leads to chronic inflammatory diseases. As an antioxidant, fulvic acid is thought to counteract the oxidative stress.

Today’s market size shows the total global revenue for digestive health supplements in 2018 and projected for 2025. In Japan, the incidence of ulcerative colitis alone increased from 8 cases per 100,000 people in 1985 to 64 cases per 100,000 in 2005. In the United States, 60-70 million people are afflicted with digestive diseases according to the National Institute of Diabetes and Digestive and Kidney Diseases. The growing prevalence of digestive disorders in Japan, the United States, and several European countries has contributed to the increased demand for digestive health supplements. This is projected to continue through 2025. In the United States, probiotics constitute an overwhelming share of the digestive health supplement market. Currently three-quarters of the supplements sold are in the form of tablets and capsules, however; powdered supplements are expected to gain in popularity in the coming years due to consumer interest in organic ingredients and the convenience of being able to add powdered supplements to the foods they eat. Also, powdered supplements can be absorbed by the body faster. Nearly a third of the supplements sold worldwide in 2018 were manufactured in Italy, Japan, and the United States. Top manufacturers of digestive health supplements include Bayer AG, Amway, Nature’s Bounty Co., and NOW Foods, among others.

1 Manufacturers of some brands of yogurt add additional probiotics to their product. Two such brands are Activia and Danactive.
2 Any mention of brands in this post does not constitute an endorsement. The strain of probiotic in the product is included within the parentheses.

Geographic reference: World
Year: 2018 and 2025
Market size: $8.67 billion and $15.67 billion, respectively
Sources: “Digestive Health Supplements Market Size, Share & Trends Analysis Report by Product (Prebiotics, Probiotics, Enzymes), by Form, by Distribution Channel (OTC, Prescribed), by Region, and Segment Forecasts, 2019 – 2025,” Grand View Research Report Summary, October 2019 available online here; “Digestive Health Supplements Market Size Worth $15.67 Billion by 2025: Grand View Research, Inc.,” CISION PR Newswire, October 23, 2019 available online here; Ames Gross, “Gastrointestinal Diseases Rise in Asia,” MedTech Intelligence, January 22, 2016 available online here; Hrefina Palsdottir, “11 Probiotic Foods That Are Super Healthy,” Healthline, August 28, 2018 available online here; Matthew A. Ciorba, “A Gastroenterologist’s Guide to Probiotics,” Clinical Gastroenterology and Hepatology, U.S. National Library of Medicine, National Institutes of Health, September 2012 available online here; Arlene Semeco, “The 19 Best Prebiotic Foods You Should Eat,” Healthline, June 8, 2016 available online here; “Gut Reaction: A Limited Role for Digestive Enzyme Supplements,” Harvard Health Letter, Harvard Health Publishing, Harvard Medical School, March 2018 available online here; Zawn Villines, “What is the Difference Between Prebiotics and Probiotics?” Medical News Today, October 29, 2018 available online here; Joanne Slavin, “Dietary Fiber: The Prebiotic Connection,” Clinical Advisor, April 20, 2015 available online here; Angela Stringfellow, “The Best Fiber Supplements (2019 Reviews),” Family Living Today, January 9, 2019 available online here; Janet Renee, “About the Enzyme Alpha Galactosidase,” Livestrong.com available online here; “Should You Take Probiotics?” Harvard Health Letter, Harvard Health Publishing, Harvard Medical School, April 2015 available online here; John Winkler and Sanjoy Ghosh, “Therapeutic Potential of Fulvic Acid in Chronic Inflammatory Diseases and Diabetes,” Journal of Diabetes Research, U.S. National Library of Medicine, National Institutes of Health, September 10, 2018 available online here; “Digestive Diseases Statistics for the United States,” National Institute of Diabetes and Digestive and Kidney Diseases, November 2014 available online here; “Shilajit,” Wikipedia, November 6, 2019 available online here.
Image source: Efraimstochter, “dietary-supplements-pills-3512184,” Pixabay, July 3, 2018 available online here.

Polyaryletherketone

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Plastic polymer granules

Polyaryletherketone, or PAEK, is a group of thermoplastics that is strong, flexible, and durable. These thermoplastics are resistant to corrosion and do not break down when sterilized. They can be machined and are versatile for many applications in the oil and gas, electrical and electronics, aerospace, automotive and medical industries. Seals, valves, and bearings for oil drilling; surgical implants; chemical pumps; and automotive gears are some of the applications for various forms of PAEK.

Three types of PAEK thermoplastics are polyetheretherketone (PEEK), polyetherketone (PEK), and polyetherketoneketone (PEKK). PEEK thermoplastics are used as a replacement for metal in high temperature and high wear applications. Depending on the use, glass or carbon fillers are added to PEEK to increase its strength and thermal stability. Unfilled PEEK has low smoke and toxic gas emissions when burned. As a result, it’s often used in airplane interiors. PEEK is also used to manufacture items such as bearings, piston parts, and electrical cable insulation. Increasingly, it’s being used for spinal fusion devices and reinforcing rods.

PEK thermoplastics are used for components that need to retain their strength when exposed to high temperatures over long periods. Gears, shafts, bushes, bearings, and miniature rotational precision parts in the aerospace and automotive industries are some of the end uses for PEK.

PEKK, like PEEK, lends itself to uses in 3D printing applications. However, PEKK has 80% more compression strength than PEEK and is naturally antibacterial. Because of its antibacterial properties, its osteoconductivity properties allowing for bone growth and its radiolucent properties compatible with MRI machines, this material is used in patient-specific 3D-printed implants. Oxford Performance Materials, Inc. received U.S. Food and Drug Administration approval for its PEKK cranial and fascial implants in 2013 and 2014, respectively. In 2019, this company obtained a license to sell its PEKK implants in various countries throughout Asia. PEKK, like other PAEK thermoplastics, is used in end-market industrial components also.

Today’s market size shows the expected total global revenue for PAEK thermoplastics in 2019 and 2024. In 2018, PEEK had the highest market share. Demand for PEEK is expected to increase during this time due to increased demand from the oil and gas, electrical and electronics and medical industries. Worldwide, the APAC region is projected to have the highest market share, 41%, followed by North America (30%), and Europe (10%). Some leading providers of PAEK products include Victrex PLC, Solvay, Evonik Industries AG, Arkema SA, Celanese Corporation, Gharda Chemicals Ltd., and Panjin Zhongrun High-Performance Polymers Co. Ltd.

Geographic reference: World
Year: 2019 and 2024
Market size: $851 million and $1.15 billion, respectively
Sources: “The PAEK Market Size is Expected to Grow from USD 851 Million in 2019 to USD 1,149 Million by 2024, at a CAGR of 6.2%,” Olean Times Herald, October 23, 2019 available online here; “PAEK Market by Type (PEK, PEEK, PEKK), Fillers (Glass Filled, Carbon Filled, Unfilled), Application (Oil & Gas, Electricals & Electronics, Automotive, Medical, Aerospace), Region (APAC, Europe, North America, South America, MEA) – Global Forecast to 2024,” Marketresearch.com Report Description, October 2019 available online here; “Polyaryletherketone,” Wikipedia, November 25, 2017 available online here; Andy Pye, “Operating at PAEK Performance: An Overview of Polyaryletherketones,” Prospector, February 10, 2017 available online here; “PEEK (Polyetheretherketone),” Performance Plastics available online here; “PEEK vs. PEK vs. PTFE,” Greene Tweed available online here; Marco, “All You Need to Know About PEKK,” 3devo, June 28, 2017 available online here; Daphne Allen, “3D Printer of PEKK Implants Expanding in Asia,” MD+DI, July 20, 2018 available online here.
Image source: feiern1, “plastic-polymer-granules-1061731,” Pixabay, November 25, 2015 available online here. Picture is of plastic polymer granules, not PAEK thermoplastic granules.