COVID-19 Impact Analysis
The domestic specialty chemicals sector is anticipated to witness significant opportunities amid the pandemic, which might result in improved international relations and expansion of supply contracts. In the initial phase of the lockdown in India, several specialty chemical players had to temporarily close their manufacturing units; however, the production of chemicals listed under essential commodities continued.
The pandemic has stirred anti-China sentiment among Indians, and most players in the specialty chemicals sector are looking for suppliers outside China. Thus, several Indian players have witnessed an inflow of orders from global chemical manufacturers. Players dealing with hygiene-related specialty chemicals in the industry, such as Fine Organics and Galaxy Surfactants, witnessed a surge in demand, even during the lockdown period. Additionally, business segments of companies, such as, SRF Limited, PI Industries Limited, and Aarti Industries that cater to the pharmaceutical and agrochemical sectors have experienced growth. Vinati Organics Limited, a company producing specialty chemicals and organic intermediaries, reported an increase of ~30% in the sale of isobutyl benzene (IBB) chemical, used in the production of Ibuprofen.

Key growth drivers of the market
Increased demand for specialty chemicals in end-user industries such as food processing, personal care, and home care is propelling the Indian specialty chemicals market. Due to busy work schedules, people lack the time to cook and prefer consuming processed and packaged foods. Therefore, growing consumption of processed and packaged food has led to the spurt in demand for edible colors.
Improved standard of living as a result of globalization and increased per capita income are fuelling growth in the premium home care and personal care segments. In addition to the rising demand from end-user industries, the economic slump faced by the Chinese chemical market in the past few years has developed export opportunities for Indian manufacturers.

Key deterrents to the growth of the market
The specialty chemicals market in India is operated mostly by small-scale firms that cannot compete with large firms functioning in the global market. Moreover, the demand and supply of specialty chemicals largely depend on the demand from end-user industries. Therefore, a minor change in the operation of end-user industries leads to significant implications in the specialty chemicals market. Due to the fragmented nature of the market and high dependence on end-user industries, specialty chemicals companies in India face stiff competition with buyers switching brands based on product quality and price.

Companies covered
Aarti Industries Limited
Atul Limited
BASF India Limited
Bodal Chemicals Limited
Deepak Nitrite Limited
Galaxy Surfactants Limited
PI Industries Limited
Pidilite Industries Limited
SRF Limited
Vinati Organics Limited

The post Specialty Chemicals Market in India 2020 first appeared on CRI Report.

Segment insights:
Based on the end-user application, India’s air treatment products market is segmented into residential and non-residential. The non-residential segment is comprised of the commercial, industrial, government, and automotive sectors. As of 2019, the non-residential segment dominated the market, accounting for 76.85% of the total market share. Based on technology, the HEPA-based air treatment devices segment held a market share of ~98.60% in 2019, in terms of sales. HEPA devices are largely used by both the residential and non-residential sectors.

Impact of COVID-19:
The contagion has marked a positive impact on the air treatment products market in India. The fear of airborne transmission of the deadly virus has increased awareness regarding the degrading quality of air among people. As a consequence, the demand for air treatment products has gained significant momentum in the Indian market.
Companies covered:
Crusaders Technologies India Private Limited
Eureka Forbes Limited
Kent RO Systems Limited
Daikin Airconditioning India Private Limited
Dyson Technology India Private Limited
Honeywell International India Private Limited
Panasonic India Private Limited
Philips India Limited
Samsung India Electronics Private Limited
Sharp Business Systems (India) Private Limited

The post Air Treatment Products Market in India 2020 first appeared on CRI Report.

Market insights:

The Ayurveda industry in India was valued at INR 335 Bn in 2019 and is expected to reach a value of INR 1,042.07 Bn by 2025, expanding at a compound annual growth rate (CAGR) of ~22.15% during the FY 2020-FY 2025 period. Growing awareness regarding the benefits of Ayurvedic products and consumers’ inclination towards maintaining a healthy lifestyle are the leading factors responsible for driving the growth of the Indian Ayurveda industry. Moreover, initiatives undertaken by the Indian government to encourage the use of natural and herbal products are likely to boost market growth. However, factors such as shortage of quality raw materials for the production of Ayurvedic compounds and lack of skilled personnel in the industry hinder the growth of the market.

Segment insights:
In terms of product usage, the Ayurveda industry in India is segmented into Ayurveda products and Ayurveda services. As of 2019, the Ayurveda products segment dominated the Ayurveda market in India, accounting for around 75% of the overall market share. In the aftermath of the pandemic, the Ayurveda services market segment is expected to witness slow growth, owing to the temporary closure of all the Ayurvedic service providing centers; it is expected to account for ~14.50% of the overall market in 2025.
Impact of COVID-19:
The rapid spread of the contagion prompted lockdown across the country that brought trade, manufacturing, and commerce to a standstill, radically transforming India’s overall business scenario. However, the Ayurveda industry is among the few to have benefitted from the virus outbreak. The demand for Ayurvedic immunity boosting products such as Chawanprash, Giloy tablets, Giloy churna, honey, and Ashwagandha tablets has skyrocketed, in the wake of the pandemic. Furthermore, the demand for natural dietary supplements to relieve stress and strengthen immunity has increased. Thus, increasing adoption of natural products and Ayurvedic compounds for the prevention and treatment of COVID-19 have marked a positive impact on the overall industry.
Companies covered:
Dabur India Limited
Emami Limited
Charak Pharma Private Limited
Herbolab India Private Limited
Nagarjuna Herbal Concentrates Limited
Patanjali Ayurved Limited
Shahnaz Ayurveda Private Limited
Shree Baidyanath Ayurved Bhawan Private Limited
The Himalaya Drug Company
Ananda In The Himalayas
Ayurogashram Private Limited
Mercure Goa Deevaya Retreat
Somatheeram Ayurvedic Hospital and Yoga Centre Private Limited

The post Ayurveda Industry in India 2020 first appeared on CRI Report.

Market segmentation:
Based on the raw material used, the Indian flexible packaging industry can be segmented into flexible plastic packaging, paper packaging, and foil packaging. The flexible plastic packaging segment dominates the flexible packaging industry. However, industry players are moving toward biodegradable and other sustainable packaging options.

Impact of COVID-19:
The COVID-19 pandemic had a mixed impact on the market players, depending on the portfolios of different end-user industries. The industry segments catering to essential services, such as fresh and processed food, hygiene and home care products, healthcare consumables, and e-commerce, witnessed a spike in demand for flexible packaging services. On the other hand, the non-essential segments experienced a short-term contraction in demand. As a result, established players capitalized on this opportunity and strategically allocated their resources and covered up for the losses incurred for the other end-user industries (which do not fall under the essentials category).

Competitive landscape:
The flexible packaging industry is occupied by several unorganized players, which makes it highly fragmented. Established players are extending their services to various end-user industries to enhance their presence in the market.

Companies covered:
Cosmo Films Ltd
Essel Propack Ltd.
Garware Polyester Ltd.
Huhtamaki PPL Ltd.
Jindal Poly Films Ltd.
TCPL Packaging Ltd.
Uflex Ltd.
Paharpur 3P
Constantia Flexibles Group
Amcor Flexibles India Pvt. Ltd.

Related reports:

https://www.cri-report.com/product/warehousing-market-in-india-2018-2023/

https://www.cri-report.com/product/global-flexible-packaging-market-research-report-forecast-to-2023/

The post Flexible Packaging Market in India 2020 first appeared on CRI Report.

Organic Personal Care Market 2020

Impact of COVID-19 and the way forward:
The demand for hand sanitizers skyrocketed in early February 2020, due to the spread of the COVID-19 in the country. By the end of February, hand sanitizers went out of stock. The exponential increase in the demand created a massive gap in supply; and industry players utilized their manufacturing proficiency to expand production to avoid supply shortage. This also paved the way for companies from different sectors to foray into the Indian hand sanitizer space. Furthermore, to stabilize the price of sanitizers amid the huge demand and avoid any exploitation within the industry, the government had capped the market price of hand sanitizers sold in the country. However, hand sanitizers were removed from the Essential Commodities Act, 1955 as supply normalized post-July 2020.

Competitive landscape:
The hand sanitizer market in India had a few established players such as Reckitt Benckiser, HUL, Himalaya Drug Company, and Godrej Consumer Products Limited (GCPL) at the beginning of 2020. However, post the spread of COVID-19, smaller players entered the market to take advantage of the demand surge and grabbed more than 60% of the market share as of September 2020. New entrants primarily included distilleries that had easy access to the extra neutral alcohol (ENA) required in manufacturing sanitizers, after the government granted them production license. Moving forward, high demand is expected to come from institutional buyers; and the larger, established players are likely to capture market share.

Companies covered:
• 3M India Limited
• Colgate Palmolive India Ltd (Palmolive)
• Dabur India Limited
• Godrej Consumer Products Limited (Protekt)
• Hindustan Unilever Limited
• ITC Limited (Savlon)
• Herbal Strategi
• Reckitt Benckiser India Limited (Dettol)
• The Himalaya Drug Company
• Vi-Jon Group

The post Hand Sanitizer Market in India 2020 first appeared on CRI Report.