73 – CRI Report

North America Turkey Thighs Market Research Report Forecast to 2028

admin — Thu, 30 Mar 2023 02:15:19 +0000

Turkey Thighs Market Analysis

Market Overview

The North America turkey thighs market is expected to grow at a notable pace during the forecast period. Turkey meat is generally considered healthier because it contains less cholesterol and fat than red meat. It is also rich in high-quality protein, a significant trace of vitamins and minerals (especially selenium and sodium), and therefore recommended for obese, cardiac, and hypertensive patients. This is expected to contribute to the expansion of the North America turkey thigh market during the review period. Expansion of the food service industry and the high nutrition value of turkey meat is likely bolstering the market growth. However, the increasing adoption of vegan diets may limit the North America turkey thigh market growth.
Turkeys are a mainly domesticated avian sub-species and a popular poultry product, especially in North America. Turkeys and turkey thigh are traditionally consumed during culturally significant festivals such as Thanksgiving and Christmas.
Turkeys are a primarily domesticated subspecies of birds, a common poultry product, especially in North America, and are raised for meat. Turkey meat is generally considered healthier because it contains less cholesterol and fat than red meat. It is also rich in high-quality protein, a significant trace of vitamins and minerals (especially selenium and sodium), and therefore recommended for obese, cardiac, and hypertensive patients. This is expected to contribute to the expansion of the North America turkey thigh market during the review period. Expansion of the food service industry and the high nutrition value of turkey meat is likely bolstering the market growth. However, the increasing adoption of vegan diets may limit the North America turkey thigh market growth.

Major Players

The key players operating in the North American turkey thigh market include Cargill incorporated (US), The Kraft Heinz Company (US), Hormel Foods Corporation (US), Conagra Brands, Inc. (US), Land o’ Frost (US), Copas Traditional Turkeys (UK), Gardein (US), Bernard Matthews Foods Limited (US), Shady Brook Farms (US) and Hannaford Bros. Co. (US).

COVID 19 Impacts

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1 EXECUTIVE SUMMARY
1.1 NORTH AMERICA TURKEY THIGHS MARKET, BY CATEGORY
1.2 NORTH AMERICA TURKEY THIGHS MARKET, BY PRODUCT TYPE
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
2.5 KEY BUYING CRITERIA
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
3.6 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
4.1 OVERVIEW
4.2 DRIVERS
4.2.1 GROWTH OF THE FOODSERVICE INDUSTRY
4.2.2 GROWING POPULARITY OF TURKEY MEAT DUE TO ITS LOW-FAT CONTENT
4.3 RESTRAINT
4.3.1 INCREASING ADOPTION OF VEGETARIAN AND VEGAN DIET
4.4 OPPORTUNITIES
4.4.1 RISING CONSUMER PREFERENCE FOR ORGANIC MEAT PRODUCTS
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS
5.2 PORTER’S FIVE FORCES MODEL
5.2.1 THREAT OF NEW ENTRANTS
5.2.2 BARGAINING POWER OF SUPPLIERS
5.2.3 THREAT OF SUBSTITUTES
5.2.4 BARGAINING POWER OF BUYERS
5.2.5 RIVALRY
5.3 IMPACT OF THE COVID-19 OUTBREAK ON THE NORTH AMERICA TURKEY THIGH MARKET
5.3.1 IMPACT ON SUPPLY CHAIN
5.3.2 IMPACT ON CONSUMER BUYING BEHAVIOR
5.3.3 IMPACT ON PRICE
5.3.4 IMPACT ON RETAIL SALES (STORE-BASED VS. NON-STORE-BASED)
5.4 CATEGORY INSIGHTS
5.4.1 PRICING TREND, 2019-2028 (HISTORIC & FORECAST)
5.4.2 PRICING ANALYSIS
5.4.3 RAW MATERIAL ANALYSIS
5.4.4 CONTRACT TERMS & PRACTICE
5.4.5 LIST OF SUPPLIERS OF TURKEY IN NORTH AMERICA
6 NORTH AMERICA TURKEY THIGHS MARKET, BY CATERGORY
6.1 OVERVIEW
6.1.1 NORTH AMERICA TURKEY THIGHS MARKET ESTIMATES & FORECAST, BY CATERGORY, 2019–2028
6.2 PROCESSED
6.2.1 PROCESSED: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028
6.3 FRESH
6.3.1 FRESH: MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028
6.4 FROZEN
6.4.1 FROZEN: MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028
7 NORTH AMERICA TURKEY THIGHS MARKET, BY PRODUCT TYPE
7.1 OVERVIEW
7.1.1 NORTH AMERICA RTD ALCOHOLIC BEVERAGES MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2019–2028
7.2 BONE-IN
7.2.1 BONE-IN: MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028
7.3 BONELESS
7.3.1 BONELESS: MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028
8 NORTH AMERICA TURKEY THIGHS MARKET, BY COUNTRY
8.1 NORTH AMERICA
8.1.1 US
8.1.2 CANADA
8.1.3 MEXICO
9 COMPETITIVE LANDSCAPE
9.1 INTRODUCTION
9.1.1 MARKET STRATEGY ANALYSIS
9.2 COMPETITIVE BENCHMARKING
9.3 KEY DEVELOPMENTS & GROWTH STRATEGIES
9.3.1 PRODUCT LAUNCH
9.3.2 ACQUISITIONS
9.3.3 EXPANSIONS
10 COMPANY PROFILES
10.1 CARGILL INCORPORATED
10.1.1 COMPANY OVERVIEW
10.1.2 FINANCIAL OVERVIEW
10.1.3 PRODUCTS OFFERED
10.1.4 KEY DEVELOPMENTS
10.1.5 SWOT ANALYSIS
10.1.1 KEY STRATEGIES
10.2 THE KRAFT HEINZ COMPANY
10.2.1 COMPANY OVERVIEW
10.2.2 FINANCIAL OVERVIEW
10.2.3 PRODUCTS OFFERED
10.2.4 KEY DEVELOPMENTS
10.2.5 SWOT ANALYSIS
10.2.6 KEY STRATEGIES
10.3 HORMEL FOODS CORPORATION
10.3.1 COMPANY OVERVIEW
10.3.2 FINANCIAL OVERVIEW
10.3.3 PRODUCTS OFFERED
10.3.4 KEY DEVELOPMENTS
10.3.5 SWOT ANALYSIS
10.3.6 KEY STRATEGIES
10.4 CONAGRA BRANDS, INC.
10.4.1 COMPANY OVERVIEW
10.4.2 FINANCIAL OVERVIEW
10.4.3 PRODUCTS OFFERED
10.4.4 KEY DEVELOPMENTS
10.4.5 SWOT ANALYSIS
10.4.6 KEY STRATEGIES
10.5 LAND O’ FROST
10.5.1 COMPANY OVERVIEW
10.5.2 FINANCIAL OVERVIEW
10.5.3 PRODUCTS OFFERED
10.5.4 KEY DEVELOPMENTS
10.5.5 SWOT ANALYSIS
10.5.6 KEY STRATEGIES
10.6 COPAS TRADITIONAL TURKEYS
10.6.1 COMPANY OVERVIEW
10.6.2 FINANCIAL OVERVIEW
10.6.3 PRODUCTS OFFERED
10.6.4 KEY DEVELOPMENTS
10.6.5 SWOT ANALYSIS
10.6.6 KEY STRATEGIES
10.7 GARDEIN
10.7.1 COMPANY OVERVIEW
10.7.2 FINANCIAL OVERVIEW
10.7.3 PRODUCTS OFFERED
10.7.4 KEY DEVELOPMENTS
10.7.5 SWOT ANALYSIS
10.7.6 KEY STRATEGIES
10.8 BERNARD MATTHEWS FOODS LIMITED
10.8.1 COMPANY OVERVIEW
10.8.2 FINANCIAL OVERVIEW
10.8.3 PRODUCTS OFFERED
10.8.4 KEY DEVELOPMENTS
10.8.5 SWOT ANALYSIS
10.8.6 KEY STRATEGIES
10.9 SHADY BROOK FARMS
10.9.1 COMPANY OVERVIEW
10.9.2 FINANCIAL OVERVIEW
10.9.3 PRODUCTS OFFERED
10.9.4 KEY DEVELOPMENTS
10.9.5 SWOT ANALYSIS
10.9.6 KEY STRATEGIES
10.10 HANNAFORD BROS. CO., LLC
10.10.1 COMPANY OVERVIEW
10.10.2 FINANCIAL OVERVIEW
10.10.3 PRODUCTS OFFERED
10.10.4 KEY DEVELOPMENTS
10.10.5 SWOT ANALYSIS
10.10.6 KEY STRATEGIES
11 REFERENCES
11.1 RELATED REPORTS

The post North America Turkey Thighs Market Research Report Forecast to 2028 first appeared on CRI Report.

Texas Tortilla Market Forecast to 2028

admin — Fri, 05 Aug 2022 07:16:06 +0000

Texas tortilla Market Forecast 2028

Market Overview
The Texas tortilla market is expected to grow at a significant pace during the forecast period. The mounting growth of the fast-food industry is one of the significant factors for the rising growth of the tortilla market in Texas.

The consumption of tortilla chips has increased at a high rate among the consumers of Texas, which will accelerate the demand for tortillas during the forecast period. Gluten sensitivity among consumers is exceptionally high, which is anticipated to restrict the sales of wheat-based tortillas in Texas. The rising of organic food products is expected to offer a lucrative opportunity to the manufacturers of tortillas.

However, fluctuation of raw material prices is anticipated to pose a major challenge among the manufacturers of tortillas.

The Texas tortilla market is expected to register a notable growth rate during the forecast period. The growth of the fast-food industry, increasing demand for convenience food products, rising population of health-conscious consumers, and increasing consumption of tortillas in the form of tortilla chips are the major factors driving the market growth.

Enhanced production techniques and demand for organic products are expected to create new opportunities for vendors active in the market. However, rising incidences of gluten sensitivity and high R&D investments are restricting the growth of the market. Suppliers of the tortilla are witnessing challenges owing to the fluctuation in the product prices.

Regional Analysis
A tortilla is a form of baked bread that is majorly prepared from corn and wheat and consumed mostly in Spain and Mexico. The use of corn in the preparation of tortillas enhances its nutritional value as corn is a rich source of proteins, vitamins, and minerals. The process of production of tortillas from corn involves the soaking of corn in the limewater.

Market Segmentation
Based on product type, the Texas tortilla market has been segmented into tortilla mix, pre-cooked tortilla, frozen tortilla, and tortilla chips. The pre-cooked tortilla segment accounted for the largest market share of 44.58% in 2020.
Based on the source, the market is classified into corn and wheat. The corn segment accounted for a larger market share of 58.63% in 2020 and is projected to register a higher CAGR of 5.81% during the forecast period.
Based on the claim, the global market has been segmented into gluten-free, low-carb, organic, and multi-claim. The multi-claim segment accounted for the largest market share of 45.30% in 2020.
Based on distribution channels, the market has been segmented into food retail and food service. The food retail segment accounted for a larger market share of 52.88% in 2020 and is projected to register a higher CAGR of 5.83% during the forecast period.

Major Players
The prominent players operating in the Texas tortilla market are Tyson Foods, Inc (Arkansas), General Mills, Inc. (US), PepsiCo, Inc. (the US), Gruma, S.A.B. de C.V (Mexico), Grupo Bimbo SAB de CV (Mexico), La Original Tortilla Co. (US), and LA Mexicana Tortilla Factory, Inc (US).

The post Texas Tortilla Market Forecast to 2028 first appeared on CRI Report.

Green Technology Market in India 2021

admin — Mon, 11 Oct 2021 04:18:08 +0000

The green technology market in India is dominated by green energy. The electric vehicles, and water and wastewater treatment are the other important market segments. The installed capacity of the green energy sector stood at 94.43 GW in FY 2021, with a target to reach 275 GW by FY 2027. In terms of sales volumes, the electric vehicles market in India reached 148,430 units in FY 2021, expanding at a remarkable compound annual growth rate (CAGR) of 42.80% during the FY 2017 and FY 2021 period. In terms of revenue, the market for water and wastewater treatment in India is estimated to reach INR 2,413.70 Bn by 2026, expanding at a CAGR of 12.03% during the 2021 – 2026 period.
Segment insights:
The green energy sector in India is dominated by solar energy, followed by wind, biomass, and small hydro. Several initiatives to promote solar parks, solar cities, and solar pumps, as well as the National Solar Mission are responsible for the remarkable increase in India’s solar capacity. In FY 2021, India’s installed capacity for solar and wind energy stood at 40.09 GW and 39.25 GW, respectively. Wind energy projects in India are concentrated in Tamil Nadu, Rajasthan, and Maharashtra. The country’s aim is to attain green energy capacities of 175 GW by FY 2022 and 275 GW by FY 2027. However, factors such as supply chain disruptions because of the pandemic is likely to hinder installation targets.
In FY 2021, electric two-wheelers was the largest segment in the electric vehicles market in India, accounting for ~96.91% of the total sales volume. The electric four-wheelers has gained traction owing to the gradual adoption of electric vehicles for public transport. Moreover, the growing popularity of hybrid e-cars is expected to propel the electric four-wheeler market.
Market influencers:
The enormous potential for green energy in India, coupled with the approval of 100% FDI, has made the country an attractive destination for capital influx. During the first quarter of FY 2021, India witnessed investments worth USD 6.6 Bn. Supportive policies such as the National Electric Mobility Mission Plan (NEMMP) and Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) have fostered the penetration of electric vehicles in India. In addition, investments through public-private partnerships (PPP), tax reductions, and exemptions from basic customs duty are estimated to boost the sale of electric vehicles during the forecast period.
The green technology market in India is constrained by the lack of an integrated and unified policy structure and difficulties in accessing finance. There are numerous policies catering to various sub-segments of the green technology sector, which also lack in terms coordination at the state and central levels. On the other hand, green technology start-ups face challenges in acquiring early-stage funding. The stringent eligibility criteria prevent green tech entrepreneurs from availing the benefits of government schemes. Moreover, challenges in the form of grid integration, scheduling, forecasting, and power purchase agreements (PPA) impede the realization of India’s green energy potential.

Impact of COVID-19:
With COVID-19 infections increasing again in the first quarter of FY 2022, there were delays in the commissioning of green energy projects and halting of capacity addition programs. The sales and registration of EVs also slumped in FY 2021. The registration of new EVs dropped by 20% in FY 2021 as compared to the previous year. The negative impact of the pandemic on pulp and paper, food and beverages, power, and electronics, which are the major end-user industries, slowed down the water and wastewater treatment market.
In the long term, the pandemic is anticipated to bring in several positive changes in the green technology market. Growing penetration of EVs in public transportation and increased participation of green energy sources in the energy mix are a few of them. EVs havethe potential to play a key role in lessening the economic impact of the pandemic by lowering oil import bills. On the other hand, electric mobility is projected to be the key facilitator of a sustainable growth plan of the transportation sector in a post-pandemic India.

Global Green Hydrogen Market to Reach $4,455.8 Million by 2031

The post Green Technology Market in India 2021 first appeared on CRI Report.

Green Technology Market in India 2020

admin — Sat, 12 Sep 2020 05:25:48 +0000

Market insights
The green technology market in India is mostly dominated by green energy; electric vehicles, and water and wastewater treatment are the other key market segments. In terms of installed capacity, the green energy sector stood at 87.02 GW in FY 2020 and has set a target to reach 275 GW of installed capacity by FY 2027. In terms of sales volume, the electric vehicles market in India reached 156,000 units in FY 2020, expanding at a compound annual growth rate (CAGR) of 66.90% during the FY 2018-FY 2020 period. In terms of revenue, the market for water and wastewater treatment in India is estimated to reach INR 2,141.60 Bn in 2025, expanding at a CAGR of 12.28% during the forecast period.
Segment insights:
Based on installed capacity, the green energy sector in India is dominated by solar energy, followed by wind, biomass and small hydro. Several initiatives to promote solar park, solar cities, solar pumps and the National Solar Mission can be attributed for the remarkable growth of solar capacity in India. India’s installed capacity for wind energy stood at 34.63 GW in FY 2020. Wind energy projects in India are mostly concentrated in the states of Tamil Nadu, Rajasthan and Maharashtra. The country aspires to attain green energy capacities of 175 GW and 275 GW by FY 2022 and FY 2027, respectively. However, supply chain disruptions owing to the pandemic and safeguard duty on solar cells are likely to hinder the installation target.
Electric two-wheelers was the largest segment of the electric vehicles market in India in FY 2020, accounting for ~97.44% of the total sales volume. The other two segments – electric four-wheelers and bus – are slowly gaining traction owing to the gradual adoption of electric vehicles for public transport. Moreover, the growing popularity of hybrid e-cars is expected to propel the electric four-wheelers market.
Market influencers:
The enormous green energy potential in India, coupled with 100% FDI approval has made India an attractive destination for capital influx. During the FY 2018-FY 2020 period, the green energy sector in India received investments worth ~INR 1.34 Tn. Further, the Indian government’s focus to boost the electric mobility sector is projected to fuel the green technology market in India. Supportive policies like National Electric Mobility Mission Plan (NEMMP) and Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) have fostered the penetration of electric vehicles in India. In addition, investments through public-private partnerships (PPP), reduction in tax and exemption of basic customs duty are estimated to boost the sale of electric vehicles over the forecast period.
The green technology market in India is constrained by the lack of an integrated and unified policy structure and the difficulty in accessing finance. There are numerous policies catering to various sub-segments of the green technology sector, which also lack in terms co-ordination at state and central levels. On the other hand, green technology start-ups face challenges in acquiring early-stage funding. The stringent eligibility criteria act as a roadblock for green tech entrepreneurs to be entitled for government-support schemes. Moreover, challenges in grid integration, scheduling, forecasting and power purchase agreements (PPA) impede the full-realization of green energy potential.

Impact of COVID-19:
The outbreak of COVID-19 has led to severe disruption in the solar energy supply chain since India is highly dependent on China for the sourcing of PV modules. The import of solar modules and cells dropped by 76.4% in the first quarter of CY 2020 as compared to the first quarter of CY 2019. Furthermore, the nationwide lockdown resulted in a halt in construction activities in the second quarter of CY 2020. The Ministry of New and Renewable Energy (MNRE) directed green agencies to consider the pandemic as force majeure (unprecedented events or circumstances beyond human control) and allowed a blanket extension of 30 days beyond the lockdown period for all renewable energy projects.
The interruption in the global supply chain and logistics has created lucrative opportunities for domestic players of the green technology market to enhance the self-sufficiency of the country. The government has stressed on the indigenous production of solar cells, PV components and Lithium-ion battery. The government’s focus to establish India as the manufacturing hub for electric vehicles has been pushed by the supply chain disruption in China, which is currently the leading manufacturer. Furthermore, the major turmoil created in the fossil fuel market during the pandemic has increased reliance on green energy owing to its flexibility and cost-effectiveness.

Companies covered
• Adani Power Limited
• Bharat Heavy Electricals Limited
• Exide Industries Limited
• Suzlon Energy Limited
• Tata Chemicals Limited
• Tata Power Limited
• Thermax Limited
• Ampere Vehicles Private Limited
• Hero Electric Vehicles Private Limited
• Mahindra Electric Mobility Limited

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Smart Home Market in India 2019

admin — Sat, 12 Sep 2020 05:24:48 +0000

The smart home market in India is expected to reach INR 324.14 Bn by 2024, from INR 90.15 Bn in 2019, expanding at a compound annual growth rate (CAGR) of ~29.17%. Increasing disposable income, rising geriatric population and initiatives undertaken by the government for smart city development, have provided an impetus to the smart home market in India. In addition, escalating demand for energy-efficient systems and growing popularity of smart speakers have also been fueling market growth. However, high cost of smart home devices is expected to limit the widespread adoption of these products in the country.
Market segmentation:
Based on product type, the smart home market is segmented into smart lighting, control and entertainment systems, security and access control, smart thermostat, and smart home appliances.
The smart home appliance segment is the leading segment, which held a market share of ~45.55% in 2019. These appliances are controlled either using smartphones, voice or touch technology, making it more convenient for users to operate. These control features have attracted several users to adopt connected appliances in their households. This, in turn, has propelled the growth of the smart home appliance market in India.
Smart lighting is anticipated to be the fast-growing segment, expanding at a CAGR of ~47.57% during the forecast period. Various energy-saving initiatives by the government, along with improved awareness about energy-efficient lighting products have increased the adoption of smart lighting among Indians.
The control and entertainment systems segment is expected to expand at a CAGR of ~27.48%. Smart speakers have gained immense popularity among the growing millennial and Gen-Z population. Smart speaker manufacturers like Amazon, Apple and Google are adding new features such as voice recognition in regional languages, music playback, and streaming podcasts, among others, to attract more customers. Apart from smart speakers, entertainment systems like Amazon Fire TV Stick, Apple TV and Google Chromecast are also expected to flourish in the Indian market.
Market insights:
Voice-activated assistants like Alexa, Bixby, Google Home and Siri are being increasingly adopted as controlling units for the Indian smart home ecosystem. Hence, original equipment manufacturers (OEMs) are launching new smart home products compatible with more than one voice assistant.
Smartphones have become the primary interface for remotely controlling smart home devices. The companies are leveraging the potential of smartphone apps to provide remote access to users. Users can easily receive notifications/warnings about unauthorized entry, operate air conditioners, and control lighting systems, among other functions, using such apps.
Companies covered
• ABB India Ltd.
• Honeywell International India Pvt. Ltd.
• Amazon India Ltd.
• Google India Pvt. Ltd.
• Legrand (India) Pvt. Ltd.
• Prama Hikvision India Pvt. Ltd.
• Samsung India Electronics Pvt. Ltd.
• Schneider Electric India Pvt. Ltd.
• Signify Innovations India Ltd.
• Xiaomi Technology India Pvt. Ltd.

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Online Education Market in India 2019

admin — Sat, 12 Sep 2020 05:21:49 +0000

Online education is a flexible learning method that offers teachings by means of the Internet, which contains web-based courses, e-learning (electronic learning), m-learning (mobile learning), and computer-supported distance education. This type of education is delivered through various ways which include massive open online courses (MOOCs), online courses, hybrid or blended courses, and certification courses.
With the increasing adoption of the Internet and rise in awareness about e-learning, the online education industry is expected to witness promising growth during the forecast period.

Market insights:
The online education market in India was valued at INR 39 Bn in 2018 and is expected to reach INR 360.30 Bn by 2024, expanding at a CAGR of ~43.85% during the 2019-2024 period. Ease of learning, flexibility, and a wide range of study materials have influenced the overall growth of the industry. However, the lack of formal recognition and accreditation, and abundance of freely available content presents a critical threat to the growth of the sector. The industry is moving towards the adoption of innovative technologies like Artificial intelligence (AI) and machine learning (ML), Big Data Analytics, Blockchain and others to improve the learning experience.

Market segment insights:
The online education market is segmented into primary and secondary supplemental education, test preparation, reskilling and certification, higher education language, and casual learning. The online primary and secondary supplemental education segment was valued at INR 11.99 Bn in 2018 and is expected to reach INR 123.65 Bn by 2024, expanding at a CAGR of ~46.48% during the 2019-2024 period. The change in consumer behavior towards detailed learning and surge in demand from tier II and tier III cities are driving the growth of this segment.
The online test preparation market is expected to reach INR 94.75 Bn by 2024, expanding at a CAGR of ~50.84% during the 2019-2024 period. This segment is expected to be the fastest-growing segment in the online education market, owing to growth in career-focused population, enhanced Internet infrastructure and increased penetration of digital payment methods.
The online reskilling and certification market is expected to reach INR 93.81 Bn by 2024, expanding at a CAGR of ~36.95% during the 2019-2024 period. The growing business landscape has widened the skill gap among employees, which is why the demand for reskilling courses is picking up.
The online higher education market was valued at INR 5.01 Bn in 2018 and is expected to reach INR 40.63 Bn by 2024, expanding at a CAGR of ~40.74% during the 2019-2024 period. The conventional education system is insufficient for the growing population, and therefore students are switching to online higher education courses.

Key market trends:
Gamification is one of the most prevalent trends among online education providers to encourage learning through immersive experiences. Simulation of concepts, level advancement badges and incentive-based learning are driving user engagement on online education platforms. Online learning players, nowadays, are continuously competing to offer differentiated products to the target audience, mostly by offering value-added services with regular courses. Value-added services like internships, live projects, group discussions, and career counselling sessions, offered along with regular courses enhance users’ experiences.

Competition analysis:
The Indian online education market is highly fragmented with around 3,500 edtech start-ups operating in the country. Many foreign players are entering the Indian online education industry. BYJU’s, Udemy, Coursera and Duolingo are a few prominent players in the industry, catering to the requirements of different target audiences.

Companies covered:
• NIIT Limited
• Aeon Learning Private Limited
• Coursera Inc.
• Duolingo Inc.
• Individual Learning Private Limited
• Simplilearn Solutions Private Limited
• Sorting Hat Technologies Private Limited
• Think and Learn Private Limited
• Udemy India LLP
• upGrad Education Private Limited

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Hotel Industry in India 2019

admin — Sat, 12 Sep 2020 05:21:30 +0000

In India, the tourism industry plays a significant role in generating employment and earning revenue from foreign exchange. The hospitality sector, being a part of the travel and tourism industry, is greatly affected by the expansion of the industry. The government has taken several steps to make India a global hub for tourists to boost the Indian hospitality industry.

Market insights:
India accounts for the highest number of domestic leisure travellers in the world. Business travellers are gradually increasing in number, owing to the rapid growth of the IT sector in India and the emergence of several global companies. The KPIs used by the industry to measure business development and management of hotels are average room rate (ARR) and revenue per available room (RevPAR). ARR of the hotel industry in India stood at INR 5,844.81 in FY 2019 as against INR 5,527 in FY 2016, and is expected to reach INR 6,707.46 by FY 2024, expanding at a compound annual growth rate (CAGR) of ~3.16% during the FY 2020-FY 2024 period. RevPAR of Indian hotels stood at ~INR 4,002.76 in FY 2019 and is expected to reach
INR 5,305.91 by FY 2024. After the onset of FY 2020, the Indian hotel industry is anticipated to expand at a promising rate, since India will be hosting the ICC Men’s World Cup in 2023, which would increase the foreign tourist footfall in the country. Difficulties in talent management act as a significant challenge for the hotel industry. Insufficient supply of quality workforce and increased competition for skilled employees from competing service sectors like aviation have raised the attrition rate in the industry.

Segmentation insights:
Based on type, the hotel industry in India can be segmented into independent/unbranded hotels, alternate accommodations, new-age hotel chain, and branded/traditional chain. The independent/unbranded segment comprises more than ~70% of the total available hotel rooms. Alternate accommodation is the second-largest segment, owing to the growing popularity of homestays among tourists. The new-age hotel chain is expected to witness the most promising growth during the forecast period, from ~7.36% in FY 2018 to ~14.80% in FY 2024. Moreover, the branded/traditional hotel segment, which dominates the organized sector, accounts for about 5% of the overall hotel industry, in terms of room supply.
Based on the city-wise supply of rooms, tier I cities like New Delhi and Mumbai reported the highest number of rooms, followed by Bengaluru and Chennai, and together they account for ~30% of the total market share in the country. About 27% of the industry is dominated by smaller cities where the market is mostly unorganized and is primarily dominated by independent/unbranded hotels.

Government initiatives:
The hotel industry in India is highly dependent on the tourism sector for business, and hence, government initiatives, by enhancing tourism, play a crucial role in aiding the expansion of the industry. The Ministry of Tourism, along with the Ministry of Civil Aviation and The Ministry of Railways, promotes tourism in the country.
Schemes like SWADESH DARSHAN (Integrated Development of Tourist Circuits around Specific Themes), PRASHAD (National Mission on Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive) and the promotion of E-Visa has been taken up by the Ministry of Tourism to increase the tourist inflow in the country.
Vision 2040, UDAN – Ude Desh ka Aam Nagrik and NABH Nirman are a few initiatives taken by the Ministry of Civil Aviation to boost air connectivity, which would increase hotel guests in even the remote corners of the country.
As domestic travelers constitute the largest guest share of the hotel industry, the Ministry of Railways is improving rail infrastructure throughout the country to ease traveling for domestic trips.

Competition analysis:
The hotel industry in India is highly fragmented with numerous small and unorganized players dominating the market. It has witnessed a shift in favor of the mid-market and budget hotel segments, along with the development of hotel aggregators in the budget segment that has led the massive and unorganized hotel industry towards consolidation.
Based on existing inventories among organized players, Marriott Hotels India Private Limited accounts for the largest share (~22.35%), followed by Grand Taj Hotels Private Limited, Radisson Hotel Group, Accord Hotels and Resorts Private Limited, and ITC Hotels.

Companies covered:
• Bharat Hotels Limited
• Hotel Leelaventure Limited
• ITC Hotels Limited
• Lemon Tree Hotels Limited
• The Indian Hotels Company Limited
• Sarovar Hotels Private Limited
• The Park Hotels
• Hyatt Hotels and Resorts
• Marriott Hotels India Private Limited
• Radisson Hotels Asia Private Company

The post Hotel Industry in India 2019 first appeared on CRI Report.