The South Africa skincare market was valued at USD 663.51 million in 2020, and it is projected to register a CAGR of 4.25% during the forecast period, 2022-2031
The COVID-19 pandemic is still transforming the growth of numerous industries, however, the pandemic’s immediate impact is varied. While some sectors may experience a decline in demand, many others continue to stay unaffected and exhibit strong development prospects. The skincare market has been witnessing significant growth due to the increasing health and hygiene consciousness among consumers, owing to the impact of the COVID-19 pandemic. The pandemic led to a shift in consumer priorities in 2020, with a focus on overall health and wellbeing. Consumers also prioritized naturally healthy and glowing skin as opposed to hiding their imperfections with make-up. Over the long term, the market is experiencing accelerating demand for anti-aging products, like anti-wrinkle cream, face cream, serum, eye cream, and others, due to other factors, such as pollution and hard water conditions that are bombarding such products’ needs. An increasing number of consumers in the market are becoming aware of pollution’s impact on the skin. Increasing awareness about skin rituals and the urge to have a beautiful and younger appearance is driving product sales, allowing deeper penetration and expansion to new markets. Consumers in the region are showing great interest in products formulated with natural and organic ingredients. Dermalogica, a European cosmetic brand, emphasizes the use of goat milk in its product formulations. Moreover, with the growth of the middle class and increased spending power across many socio-economic groups in South Africa, demand for affordable, but reliable quality skincare products exist, to fulfill the requirements of different ethnic groups and meet the demand for natural ingredients Key Market Trends Rising Demand Among Increasing Women Workforce The country is experiencing a decent contribution of women in the workforce in recent years which remains one of the key factors boosting the demand for skincare products in the country. Now, the African woman is not just engaged with skincare, rather it is fast becoming a daily necessity and less of an indulgence. This behavior is being driven by a growing desire to understand skin, the impact of the climate, and the need for products that consistently deliver the desired results. According to industry experts, with increased disposable income and urbanization, women expect high standards and quality of products and services. Moreover, South African women, in particular, are mostly inclined to herbal and natural ingredients preferring natural active ingredients derived from vegetable extracts, like lavender, aloe vera, and other essential oils. Eyeing on the trend, many manufacturers are introducing innovative products incorporated with active ingredients. Online Sales to Foster the South Africa Skincare Market The rapid development of technology in the country is expected to be the major contributor to the growth of e-commerce in the country. The evolution of easy payments methods in the country is also one of the prominent drivers for the e-commerce market. The launch of Rabaki, an online retail store, is offering opportunities for locally present brands to improve their sales and stabilize in the prevailing uncertain economic situations. Brands are experimenting by being more creative with their narrative across platforms and consumer touchpoints throughout the purchase journey from inspirational and positive social campaigns, to content designed to save the consumer’s time while searching for a certain skincare product in the store. This is further driving the domestic brands and international brands that have a presence in the country to offer more products via e-commerce. Competitive Landscape South Africa's skincare market is highly fragmented due to the prominence of several small players in the market. Some of the prominent manufacturers present in the country are Unilever, Beiersdorf AG, Natura & Co, Estée Lauder Inc., among others. Companies are adopting acquisitions, mergers, and launching innovative products to cater to the growing demand for naturally sourced products. The active companies have adopted product innovation as their key strategy, to increase their geographic presence and customer base. With the growing demand for natural and effective skincare products, the market studied has witnessed an emergence of new kinds of products to cater to the growing demand of consumers of all age groups having different skin types. About US SDKI Inc.'s goal is market scenarios in various countries such as Japan, China, the United States, Canada, the United Kingdom, and Germany. Is to clarify. We also focus on providing reliable research insights to clients around the world, including growth indicators, challenges, trends and competitive environments, through a diverse network of research analysts and consultants. With SDKI gaining trust and a customer base in more than 30 countries, SDKI is even more focused on expanding its foothold in other pristine economies. Contact Us 15/F Cerulean Tower, 26-1 Sakuragaoka-cho Tokyo, Shibuya-ku, Japan + 81-50-50509159 [email protected]
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The Agriculture in Oman is projected to register a CAGR of 2.4% during the forecast period (2022-2031).
Agriculture in Oman has registered positive growth during the COVID-19 pandemic outbreak. Agriculture is considered the pillar of economic growth, thus, it resulted in an immediate response from the national government to ensure food safety and security in the country. According to Oman's agriculture ministry, despite COVID-19, the agriculture and fisheries sector saw a growth of 9.8% in 2019-2020. Hence, Oman's agriculture market witnessed impressive growth during the pandemic. The increase in the adoption of advanced farming technologies and conducive government policies supporting domestic crop production are some of the factors driving the market growth in the country. Oman majorly meets its domestic fruits, vegetables, and cereals demand through imports. Therefore, to reduce import dependency, the country is aiming for self-sufficiency in agricultural products by encouraging its farmers to adopt advanced farming techniques. Agricultural production of Oman constitutes mainly dates, vegetables, fruits, and other crops in a minor quantity. According to FAO, the total amount of agricultural land present in Oman was about 1.4 million hectares in 2019, 1.5% of the total land area. Fruits like bananas and papaya are also grown in coastal regions, which accounted for 23,837 ton of production in 2018. Oman has increased its barley, sorghum, and wheat production in recent years. The government has launched several initiatives to encourage private sector production, such as updating regulations, providing low-interest loans, aiding domestic production, and running campaigns to increase the visibility of locally made products, which is anticipating the growth of the agriculture in Oman during the forecast period. Key Market Trends Consumer Shift Towards the Healthy Diet Due to the rising disposable incomes, people in Oman are presently more focused on healthier diets, with more fruits and vegetable inclusion. Additionally, with the increasing ex-pat population in Oman, there is a shift in the traditional dietary habits toward organic food. This is anticipated to influence vegetable production in the country. Moreover, the interest in wellness and immunity has spiked as a result of the COVID-19 pandemic, leading to a higher demand for fruits and vegetables in the domestic market and in partner countries. This factor is likely to have a significant impact on market growth. Dairy consumption is likely to witness the fastest growth, followed by cereals consumption. While the consumption of cereals is set to rise due to its prominence in the daily meal, Furthermore, the demand for dairy and cereals is likely to be supported by tourist arrivals anticipated to increase on the back of the government‘s plan to strengthen the tourism sector through the development of tourist spots and by encouraging private investments. The reliance on imports has further increased with the growing demand for high-quality produce. Thus, with the rising demand for animal-sourced protein, fruits, and vegetables, the government's support to ensure a sufficient supply of commodities influences the agriculture market in Oman. Thus, the market is projected to record a healthy growth rate during the forecast period. Development in Retail Chains The distribution network and retails chains, with respect to agriculture, are expanding consistently in Oman. The Omani retail industry is characterized by strong consumer demand, robust economic growth, distinct demographic factors, and a high-end technology system that ensure better customer service and efficient customer checks. The increasing presence of major retailers and supermarkets and their aggressive import strategies are resulting in better access to many fruits and vegetables for the Omani population at a comparatively cheaper rate. In 2017, Lulu hypermarkets alone imported 65 metric tons of vegetables and bananas to Oman to increase the availability of agricultural produce in the local markets.Oman Investment Authority announced a new project of an integrated company for the marketing of vegetables and fruits in the country, under Oman Food Investment Holding Company. Under the project, retail outlets are likely to be established in densely populated cities. Additionally, SPAR opened its supermarket in 2017. The convenience-focused store has a retail selling area of 395m², of which 85m² is dedicated to fresh produce, fish, and meat. Thus, increase in urbanization rates and the rise of hypermarkets have also triggered the demand for high-value processed foods. Moreover, the convenient logistics service provided by the retail chains is changing the consumer demand patterns in the market studied in Oman. Hence, the changing retail structure may influence consumer shopping behavior. Thus, this is likely to improve the market growth. About US SDKI Inc.'s goal is market scenarios in various countries such as Japan, China, the United States, Canada, the United Kingdom, and Germany. Is to clarify. We also focus on providing reliable research insights to clients around the world, including growth indicators, challenges, trends and competitive environments, through a diverse network of research analysts and consultants. With SDKI gaining trust and a customer base in more than 30 countries, SDKI is even more focused on expanding its foothold in other pristine economies. Contact Us 15/F Cerulean Tower, 26-1 Sakuragaoka-cho Tokyo, Shibuya-ku, Japan + 81-50-50509159 [email protected] The Machine Learning-as-a-service (MLaaS) Market was valued at USD 1.60 billion in 2020, and it is expected to reach USD 12.10 billion by 2031, registering a CAGR of 39.86% during the period of 2022-2031.
The COVID-19 pandemic caused many organizations to accelerate their migrations to public cloud solutions, since cloud service elasticity can meet unexpected spikes in service demand. Migrations to the cloud helped companies reinvent the way they conduct their businesses in the time of COVID-19. The need for AI services has grown, and many cloud providers offer AIaaS and MLaaS. As a result, the global cloud market recorded significant growth in the healthcare segment in 2020. AI and ML technology is being used considerably to fight COVID-19. Machine learning (ML), a subfield of artificial intelligence (AI) in its most straightforward description, spans a broad set of algorithms that are used to extract valuable models from raw data and grew out of traditional statistics and analysis. Since it revolves around algorithms, model complexity, and computational complexity, it requires skilled professionals to develop these solutions. With advancements in data science and artificial intelligence, the performance of machine learning accelerated at a rapid pace. Companies are now identifying the potential of this technology, and therefore, the adoption rate of the same is expected to increase over the forecast period. Companies are offering machine learning solutions on a subscription-based model, making it easier for consumers to take advantage of this technology. In addition, it provides flexibility on a pay-as-you-use basis. MLaaS products offered by companies are microservices offered by significant cloud computing firms like Amazon Web Services, Microsoft Azure, and Google Cloud Platform. These solutions typically include pre-built natural language processing (NLP), computer vision, and general machine learning algorithms. The MLaaS model is poised to dominate the market, with users having an option to choose from a wide variety of solutions focused on different business needs. Also, factors, such as the increasing adoption of cloud-based services, IoT, and automation and the growing demand for consumer behavior analysis, are expected to drive the growth of the machine learning-as-a-service market. As the emergence of electronic sensors, connected machines, and equipment in the industry continues, reinforced by the advancements in network connectivity technology, the demand for MLaaS is expected to grow considerably over the forecast period. Furthermore, industries have emerged into big data generators and need a highly efficient supporting system for gaining insight promptly. Download The Sample PDF Report Here: https://www.sdki.us/sample-request-114678 Key Market Trends Increasing Adoption of IoT and Automation to Drive the Market IoT operations ensure that the thousands or more devices run correctly and safely on an enterprise network, and the data that is being collected is both timely and accurate. While the sophisticated back-end analytics engines work on the heavy lifting of processing the stream of data, ensuring the quality of the data is often left to obsolete methodologies. To ensure the rein in sprawling IoT infrastructures, some IoT platform vendors are baking machine learning technology to boost their operations management capabilities. Machine learning could engage in demystifying the hidden patterns in IoT data by analyzing significant volumes of data utilizing sophisticated algorithms. ML inference could supplement or replace manual processes with automated systems utilizing statistically derived actions in critical processes. Solutions built on ML automate the IoT data modeling process, thus, removing the circuitous and labor-intensive activities of model selection, coding, and validation. Small businesses adopting IoT could significantly save on the time-consuming process of machine learning. MLaaS vendors could conduct more queries more quickly, providing more types of analysis to get more actionable information from vast caches of data generated by multiple devices in the IoT network. As enterprises increasingly adopt IoT-based technologies and solutions, more companies leverage machine learning technologies for data analytics. As a result, MLaaS is expected to drive innovation in IoT. According to Ericsson, total IoT connections are poised to increase from 12.4 billion in 2020 to 26.4 billion in 2026, with a CAGR of 13%. Although MLaaS already has the capacity to integrate with various kinds of sensors, MLaaS is poised to a critical role in IoT and automation. North America is Expected to Hold Largest Market Share The United States has a robust innovation ecosystem, fueled by strategic federal investments into advanced technology, complemented by the presence of visionary scientists and entrepreneurs coming together from across the world, and renowned research institutions, which has propelled the development of MLaaS in the North American region. The region is also witnessing a significant proliferation of 5G, IoT, and connected devices. As a result, Communications Service Providers (CSPs) need to efficiently manage an ever-growing complexity through virtualization, network slicing, new use-cases, and service requirements. This is expected to drive MLaaS solutions as traditional network and service management approaches are no longer sustainable. Moreover, major technology firms present in the region, such as Microsoft, Google, Amazon, and IBM, have stepped up as major players in the ML as a Service race. Because each of the companies has sizeable public cloud infrastructure and ML platforms. This allows the companies to make ML as a Service a reality for those looking to use AI for everything ranging from customer service to robotic process automation, marketing, analytics, predictive maintenance, etc., to assist in training the AI date models being deployed. The region’s ML marketplace is changing due to cloud, and serverless computing makes it possible for developers to get ML applications up and running quickly. Also, the prime driver of the ML as a Service business is information services. The most significant change that serverless computing has brought is that it has eliminated the need to scale physical database hardware. Request The Sample PDF Report Here: https://www.sdki.us/sample-request-114678 Competitive Landscape The machine learning as a service market is highly competitive and consists of several major players. In terms of market share, few major players, currently dominate the market. However, with the advancement of Artificial Intelligence, many companies are increasing their market presence by securing new contracts, by tapping new markets. April 2021 - Microsoft Corporation announced an open Dataset for transportation, health and genomics, labour and economics, population and safety, supplemental and common datasets to improve accuracy of machine learning models with publicly available datasets. This also allows the company to deliver insights at hyperscale using Azure Open Datasets with Azure’s machine learning and data analytics solutions that boosts sales of the company’s MLaaS About Us SDKI Inc goal is market scenarios in various countries such as Japan, China, the United States, Canada, the United Kingdom, and Germany. We also focus on providing reliable research insights to clients around the world, including growth indicators, challenges, trends and competitive environments, through a diverse network of research analysts and consultants. With SDKI gaining trust and a customer base in more than 30 countries, SDKI is even more focused on expanding its foothold in other pristine economies. Contact Us Lauren Brown 600 S Tyler St Suite 2100 #140 AMARILLO, TX 79101 Email:– [email protected] |